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
President Barack Obama says his administration is creating the first U.S. program to authorize offshore projects to generate electricity from wind and ocean currents.
It is good news that the big banks are reporting profits, though as some observers have noted, it’s not hard to make money with free funds (provided by thousands of smaller banks who cannot continuously roll over Federal Funds as a way to fund assets), writes William Dunkelberg, Economics Professor at Temple University.
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.
President Barack Obama is going on the road to pitch his energy plan—as well as environmentally friendly jobs production—in a hard-hit Iowa town, while administration officials make a similar push back in Washington.
Governors have made headlines for refusing at least some of the economic stimulus package. But cash-strapped cities and counties have also been turning down money.
President Barack Obama meets today with a key Middle East ally. He'll have a one-on-one meeting with Jordan's King Abdullah of Jordan in the Personal Dining Room, followed by an expanded meeting in the Oval Office.
Requiring banks to account for their use of funds remains a top complaint, said Neil Barofsky, special inspector general to the TARP.
Taxpayers are increasingly exposed to losses, and the government is more vulnerable to fraud, under initiatives that have created a federal bank bailout program of "unprecedented scope," a government report finds.
President Obama’s top economic advisers have determined that they can shore up the nation’s banking system without having to ask Congress for more money any time soon, according to administration officials.
Gun and ammunition sales have been spiking, partly due to fears President Obama will reinstate a federal ban on assault weapons.
Top executives of credit card companies will meet Obama administration officials next Thursday at the White House, as the industry faces the possibility of legislation aimed at curbing deceptive practices, sources familiar with the plans said.
The Obama administration will disclose details about its banking stress tests and what capital participants may need in a two-stage process beginning next week.
JPMorgan Chase could rule the day Thursday. Traders expect the stock and Treasury markets to take their cue from the bank's first quarter earnings report and forward comments.
The most challenging venue for a tea party protest may have been in the nation’s capitol, Washington D.C.
President Barack Obama seized the opportunity on tax-filing day to assert that his administration is easing the tax burden of working people.
Stocks are struggling against a wave of economic and earnings news, but traders say it's not a bad thing that the market is giving up gains this week.
President Barack Obama is juggling a glass-half-full take on the economy with a determination to not be seen as naive about problems still washing over the business landscape.
Delsa Bernardo was ready to pop rolls in the oven at Yiya's Gourmet Cuban Bakery when she heard the news: After years of separation, she could finally visit her 80-year-old aunt in Cuba, any time she wanted.
King Abdullah II will meet US President Barack Obama on 21 April in Washington DC. The meeting will focus on efforts to reach a two-state solution to the Israeli-Palestinian conflict and achieve a comprehensive peace in the region. Talks will also address Jordan-US ties.
After years of encouraging their customers to borrow beyond their means by extending credit beyond any reasonable ability to pay back, the banks are adding insult to injury by jacking up the interest rates seemingly ad nauseam.
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