CNBC's Eamon Javers reports compromise is needed on a two-year bipartisan budget deal that removes the risk of a shutdown and reduces the federal deficit.» Read More
An ex-aide to Commerce Secretary nominee Judd Gregg is under investigation for allegedly taking baseball and hockey tickets from a lobbyist in exchange for legislative favors.
Rep. Gary Ackerman (D-N.Y.) attacked SEC officials testifying before the House Financial Services committee for failing to detect Bernie Madoff’s $50 billion Ponzi scheme on Wednesday.
Tuesday the House dropped a provision from the stimulus bill that would allow film projects in 2009 to qualify for 50 percent write-offs, worth some $250 million in tax breaks.
President Obama kicked off a campaign to rein in corporate compensation with rules limiting executive pay to $500,000 a year for firms getting bailout funds .The following is Obama's speech on executive compensation.
President Obama kicks off a campaign to rein in corporate compensation with rules limiting executive pay to $500,000 a year for companies getting taxpayer bailout funds in the future.
Senior executives for companies receiving TARP money will be limited to annual salaries of $500,000 under executive compensation caps to be announced Wednesday by President Obama.
Where does the government get off telling a private company they should fire hardworking, qualified employees, solely because of where they're from?
The Obama administration is still struggling with the details of a bad bank concept that is expected to be part of a package of industry and consumer measures to be unveiled next week.
On February 12th, on bicentennial of the birth of Abraham Lincoln, Christie's will be auctioning an original handwritten manuscript of his victory speech from the election of 1864.
Former Senator Tom Daschle has withdrawn his name for Secretary of Health and Human Services. The action comes after Daschle admitted failure to pay past taxes.
Companies are cutting jobs by the tens of thousands. State and local governments are penny-pinching, too. So what about Uncle Sam?
Wednesday night’s House tally on the Democratic stimulus package, where not a single Republican voted in favor, was another shot across the bow for this incredibly unmanageable $900 billion behemoth of a program that truly will not stimulate the economy.
Officials from the Obama administration are holding around the clock meetings with senior Wall Street executives on how to create a new government bank to buy bad assets from major financial firms, people with direct knowledge of the talks tell CNBC .
Last night’s House vote on the Democratic stimulus package, where not a single Republican voted in favor, was another shot across the bow for this incredibly unmanageable $900 billion behemoth of a program that truly will not stimulate the economy.
Vice President Joseph Biden said in an interview on CNBC, that "all alternatives" are under consideration to stabilize the shattered banking system if the rescue fund is not adequate.
President Barack Obama will keep seeking bipartisan support in Congress despite being rebuffed by House Republicans who voted against a $825 billion economic stimulus package, his spokesman said Thursday.
Estimating how effective the huge program of tax cuts and spending will be in getting America’s economic engines humming again is a far more complex calculation requiring almost line-by-line scrutiny of the 647-page bill, lawmakers, the New York Times reports.
The New Deal was actually a combination of socialism and cartelization of industry with price controls and failed to stimulate growth and helped plunge the economy into the "Depression within a Depression" in 1937, says Andrew Busch.
The Fed was very gloomy in its Open Market Committee statement today. It suggested a gradual recovery could begin later this year, although there are plenty of downside risks.
The longer Congress deliberates, the worse things get and the harder they become to fix. That means, all else equal, every day we wait, the stimulus plan becomes worse.