DeFazio, D- Ore., said the Formosa Mine, which is on federal and private land outside Riddle, illustrates what is wrong about the 1872 Mining Act: the Canadian companies that reopened the mine in the 1990 s have disappeared; the bond put up for cleanup was nowhere near enough to cover the true costs; and the federal government never got a penny in royalties.» Read More
Testimony from Fed Chairman Ben Bernanke and ADP's employment report are two of the big events for Wednesday.
Perhaps a new breed of speculators is emerging, especially in the condo market, investors with cash and the patience to wait for demographics to catch up with supply, writes William Dunkelberg, Economic Strategist, Boenning & Scattergood.
Washington is asking some painful questions about how to prevent the next financial meltdown. Should it reinvent the Federal Deposit Insurance Corporation? Abolish the seemingly feckless overseer of savings and loans? Grant new powers to the Federal Reserve?
President Obama couldn't let General Motors fail, but he won't concede he's taking over the company.
Cuba has agreed to resume talks with the Obama administration on legal immigration of Cubans to the United States and direct mail service between the two countries, a State Department official said Sunday.
Obama is calling for a sweeping $18 billion proposal covering birth to higher education. It includes reforms for teaching, funds for pre-school programs, college tax credits as well as revamping the college student loan system.
Stocks started the week worried about the weakening dollar but have since developed a case of bond market phobia.
The Treasury market took the government's latest 7-year note auction in stride, compared to Wednesday's wild action.
The recommendations include creation of a new banking regulator and an expansion of powers for the Federal Reserve and FDIC.
Treasury bonds were firmer and trading quietly on Thursday compared with yesterday's wild action, though the market is awaiting the government's 7-year note auction this afternoon.
The stock market is watching the bond market, wary a spike in interest rates will derail a fragile economic recovery and snuff the market's rally.
The big number for markets Wednesday is April's existing home sales, which should tell the story of a weak spring selling season.
Following President Barack Obama's nomination of New York Appeals Court Judge Sonia Sotomayor to the Supreme Court, CNBC went to the experts for their opinons on the decision.
President Barack Obama tapped U.S. Circuit Judge Sonia Sotomayor for the Supreme Court on Tuesday, making her the first Hispanic picked to wear the robes of a justice.
Here's some background on Sonia Sotomayor, who President Barack Obama chose to succeed Justice David Souter on the Supreme Court Tuesday, and her view of business issues: right/CNBC/Sections/News_And_Analysis/__Story_Inserts/graphics/__GOVERNMENT/supreme_court_building.jpg120015000righttruehttp://msnbcmedia.msn.comAP ASCOTUS ROBERTSWASHINGTONDCUSA632638944000000000false1DCMC105Pfalsefalsefalsefalse
Look for sweeping legislation covering everything from consumer protection to executive compensation to more hedge fund supervision and the creation of a super regulator.
Sonia Sotomayor's path to the pinnacle of the legal profession began in the 1960s at a Bronx housing project just a couple blocks from Yankee Stadium, where she and her family dealt with one struggle after another.
Markets head into the last session before the three-day Memorial Day weekend, with a wary eye on the dollar and interest rates.
The reflation trade - strong commodities, weak dollar - was back in vogue Wednesday, even as a revised economic forecast from the Fed took the steam out of stocks.
A daunting litany of ills imperils U.S. banks, from toxic assets to rising loan defaults. After the irritating spectacle that played out in Washington yesterday, we can add a new threat: the Congressional Oversight Panel tracking TARP.
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