When Senate Majority Leader Harry Reid went "nuclear" last winter, he just might have saved a major part of Obamacare from a huge challenge it faces.» Read More
Over the last year, the Obama administration has pressed forward on hundreds of new mandates, while also stepping up enforcement of rules by increasing the ranks of inspectors and imposing higher fines for violations. The New York Times explains.
Public attitudes toward the economy have created ominous political problems for the Democratic Party and for Wall Street, according to the new NBC News/Wall Street Journal poll.
The Senate’s decision to drop a $50-billion resolution fund from its package of financial reforms increases the chance that the Obama administration can push through a controversial $90-billion bank tax.
Some fear the bill will wind up giving preferential treatment to big firms, while others worry that the American taxpayer will remain on the hook, much the way it happened with the near failuremof AIG and others in 2008.
After three entire days, the Republicans finally relented Wednesday after reducing bailout language in the current Dodd bill, but the debate and amendment process is just beginning.
Every now and then an idea takes hold that is, conceptually, so elegant and alluring as to be nearly irresistible. Resolution authority – like the call of the Sirens – has enchanted every US official who was in a decision-making capacity during the financial crisis.
The job of a market maker is to determine a price at which the trader is willing to buy a particular product AND a price at which that same trader will sell that same product at the same moment in time. Yes – a market maker will give you a price to buy, or sell – and they are generally indifferent to what you do, they just want you to do business.
Senate Democrats Wednesday prepared for a third procedural vote to advance a sweeping financial reform bill, after the latest round of talks on a bipartisan compromise appeared to yield no agreement.
Today four democratic senators — Charles Schumer, Michael Bennet, Mark Begich, and Al Franken — wrote a letter to Facebook CEO Mark Zuckerberg asking him to review the company's policies. They say they "look forward to the FTC examining the issue," and they're asking the FTC to get involved.
Democrats and Republicans keep talking about finding a bipartisan compromise but they'll have to agree enough to simply get the legislation on the Senate floor for debate.
The blame for the real politicization of the process should be laid at the feet of Senate Minority Leader Mitch McConnell, who charged that Democrats wanted to create a system to bailout the banks.
While the focus in Washington this week is on the forensics of Goldman Sachs’ actions during the financial crisis, and the outlook for domestic financial regulatory reform legislation, scant attention has been paid to the need for reforms to bring greater safety and stability to the global financial system.
While this is a heavy duty inside-the-beltway item, it has everything to do with whether the US government will be able to continue to prop up zombie institutions or pick winners and losers in the private sector.
With the Senate scheduled to begin debate on a financial overhaul bill this week, the fraud suit against the Wall Street titan Goldman Sachs has emboldened Democrats to ratchet up pressure on Republicans who oppose the Obama administration’s proposal.
President Barack Obama is preparing to travel outside Washington in the coming weeks to sell his proposal for financial regulatory reform to the country.
The overhaul is the next major piece of legislation that Obama wants to sign into law this year, but solid GOP opposition in the Senate is jeopardizing that goal.
As the Obama administration and Senate Republicans clash over the future of the nation’s financial regulatory system, there is one principle on which they agree: Taxpayers should never again have to bail out giant financial institutions.
The White House and Democratic Congressional leaders said Wednesday that they would press forward with legislation to tighten regulation of the nation’s financial system. Rebuffing Republican criticism, the Democrats effectively dared the minority party to side with Wall Street by opposing the measure.
When it comes to earmarks—lawmakers spending on their pet projects—Congress has gone on a diet. Earmarks have declined 10.2 percent in the 2009 fiscal year.
The government’s surging deficit can be cut, easy. Getting it done? Almost impossible. Economic recovery and the end to stimulus spending will do the heavy lifting in Treasury's plan to slash the deficit.