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  • MacDonald: Damage from Gulf Disaster Will Last Lifetime Wednesday, 30 Jun 2010 | 9:47 AM ET
    Cody Fonseca (left) and his brother Chris sort through blue crab caught in the Barataria-Terrebonne National Estuary at the La Blue Crab Company on May 3, 2010 in Larose, Louisiana,

    Despite all the skimmers and sweepers, most of the oil leaking into the Gulf of Mexico sinks to the bottom or washes up on the shore and then sinks down in shallow layers below the sand, profoundly restructuring the ecosystem. The change cannot be undone in a lifetime.

  • Vallejo, California Police

    Two years ago, the Bay Area city of 120,000 went into a special kind of bankruptcy reserved for local governments called Chapter 9. It allowed the city of break contracts and suspend debt payments.

  • TARP Money May Help Fund Financial Reform Legislation Tuesday, 29 Jun 2010 | 3:32 PM ET

    Lawmakers are now considering ending the $700 billion TARP program early and using some of that money to help fund the new financial overhaul bill, CNBC has learned.  The proposal is being weighed as Democrats scramble to save the legislation.

  • Taxes on Foreign Profits Are Worrisome: Caterpillar CEO Tuesday, 29 Jun 2010 | 11:28 AM ET
    Doug Oberhelman, CEO Elect of Caterpillar

    Taxation on a US corporation’s foreign profits, now on the financial reform table in Congress, is a major concern, incoming CEO of Caterpillar, Doug Oberhelman, told CNBC Tuesday.

  • Sen. Robert Byrd (D-West Virginia) served in the Senate for more than 50 years.

    Sen. Robert Byrd's death Monday morning could affect the passage of the financial reform bill, said Sheila Bair, the chairman of the Federal Deposit Insurance Corporation.

  • There has been much attention paid today to the language in the bill as it applies to the market making function of trading and to the parts of a banks’ derivatives business that must be segregated in a separately capitalized subsidiary.

  • How Bank Reform Will Affect Proprietary Trading Friday, 25 Jun 2010 | 3:31 PM ET

    Kate Kelly's insight into why large banks are concerned about language that was taken out of the Volcker Rule because it may cut into their market-making profits, which is at the core of what they do in trading stocks and bonds.

  • Crescenzi: FinReg—Fewer Unknown Unknowns Friday, 25 Jun 2010 | 11:46 AM ET

    Now, with financial reform set to be implemented in Washington, there will be fewer unknown unknowns. This will contribute to a healing of the U.S. credit system. Moreover, the November election is likely to lead to more balance in the House and Senate, which means that the worst of the regulatory cloud and government involvement will soon pass. This could rally risk assets if this viewpoint becomes popular. Still, challenges remain.

  • Santelli & Dobbs Talk Tea Party Power Friday, 25 Jun 2010 | 10:58 AM ET

    So what exactly is the real message of the tea parties? And how large an impact will they have on the upcoming elections? These are just a couple of the questions I posed to my old friends Rick Santelli and Lou Dobbs on last night’s Kudlow Report.

  • This Won't Prevent Another Crisis: Isaac Friday, 25 Jun 2010 | 9:56 AM ET
    Government Regulation

    The financial regulation bill agreed upon by Congressional leaders overnight is too weak and will not reform the system, Williams Isaac, former chiarman of the FDIC, told CNBC.

  • Obama 'Gratified' by Deal on Financial Overhaul Friday, 25 Jun 2010 | 9:33 AM ET
    President Barack Obama

    President Barack Obama says he's "gratified" by the deal that Congress has worked out on overhauling Wall Street rules.

  • The real work now, the real test for President Obama and Treasury Secretary Geithner, is to quickly bring the rest of the world along on the only reforms that will truly protect the global financial system from crisis in the future: common standards for the appropriate quantity and quality of capital, and acceptable levels of leverage and liquidity.

  • Emotional Finish to Wall Street Reform Marathon Friday, 25 Jun 2010 | 7:51 AM ET

    At 5.06am lawmakers voted to name the financial reform bill after Barney Frank and Chris Dodd, the chairmen of the House financial services and Senate banking committees.

  • GOP Shoots Down Business Tax Breaks, Jobless Aid Thursday, 24 Jun 2010 | 6:51 PM ET
    Unemployment line

    A Democratic plan to provide additional aid to jobless workers, businesses and cash-strapped states failed in the U.S. Senate on Thursday in the face of solid Republican opposition.

  • Financial Reform Will Cause Credit Crunch: Sen. Gregg Thursday, 24 Jun 2010 | 12:39 PM ET

    The US will face a severe credit crunch if the financial regulation bill passes in its current form, Sen. Judd Gregg (R-NH) told CNBC Thursday.

  • Sluggish Growth for Rest of 2010: Goldman Economist Wednesday, 23 Jun 2010 | 5:44 PM ET

    The US should expect a notable slowdown in GDP growth, to ½ percent, during the second half of this year, Jan Hatzius, chief US economist at Goldman Sachs, told CNBC Wednesday.

  • Mob Money: Organized Crime Still Big Business Tuesday, 22 Jun 2010 | 1:55 PM ET
    John Gotti

    While the days of the flamboyant “Dapper Don” are over, New York's  five major crime families—Bonanno, Colombo, Gambino, Genovese and Lucchese—are still functioning. And more importantly, they’re still making money.

  • Oil Remains King in Russia, But for How Long? Tuesday, 22 Jun 2010 | 12:46 PM ET
    Russia

    One of the major topics of conversation at the just-concluded economic forum in St. Petersburg, Russia, was energy, specifically oil and the situation in the Gulf. That’s not surprising, as Russia is very rich in oil, natural gas and other commodities.

  • Gulf Prepares for Possible Blackouts Tuesday, 22 Jun 2010 | 11:14 AM ET
    A Greenpeace activist walks on an oil-covered beach along the Gulf of Mexico on May 20, 2010 near Venice, Louisiana. Although BP says that it is capturing more of the massive oil leak, thousands of barrels continue gushing into the Gulf south of the Louisiana coast.

    Blackouts are one more possible problem related to the BP oil spill for the residents of the Gulf of Mexico region. If that happens, the power outages have the potential to impact homes and businesses from western Louisiana to eastern Florida.

  • New financial services regulations will be so disastrous that Congress will need to repeal them to undo the damage they will cause, banking analyst Dick Bove said Monday.