Law Legislation

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    Congress will hold its first hearing Tuesday about how to restructure the mortgage system in the wake of the financial crisis.

  • Sen. Christopher J. Dodd (D-CT) speaks at a news conference following the Senate's cloture vote on health care reform legislation on Capitol Hill.

    Senate Banking Committee Chairman Christopher Dodd (D-Conn.) finally unveiled his financial reform legislation. It was not worth the wait.

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    When Josh Beckett pitches for the Red Sox at Yankee Stadium, New York collects income tax on the portion of his salary earned in New York State.  But what about a Boston Scientific sales representative who comes to New York to pitch medical products to a new client? New York wants a slice of that paycheck, too.

  • Ambulance

    House Democratic leaders are believed to be at least a half-dozen votes short of the 216 votes they need to pass health care reform, but have said they are confident they can secure the needed votes. The New York Times reports.

  • Barney Frank

    Rep. Barney Frank told CNBC Friday that he does not support removing the Federal Reserve's authority, because it wasn't the only government agency to make the mistakes that led to the financial crisis.

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    The latest version pays for the health care expansion largely on the backs of investors who face a smorgasbord of new taxes on interest, dividends, capital gains and other investment income.

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    The threat is no longer low-cost manufacturing; it’s high-tech and ideas. And the proof? As of this year, China has overtaken Germany as the world’s biggest exporter. And it’s not limited to less expensive products.

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    While Alabama and Milan are rarely mentioned in the same breath, both locations now share something: they are making bankers nervous.

  • Lehman Brothers

    SEC and Fed officials were warned by a leading Wall Street rival that Lehman Brothers was incorrectly calculating a key measure of its financial health months before its collapse, the FT reports.

  • One of the most popular Web sites that let people post opinions about restaurants, shops and local services is being sued by several small businesses. These businesses claim that the site, Yelp, pressured them to advertise in exchange for getting negative reviews squashed.

  • Cost of healthcare

    The revised health care bill that Democrats released in advance of a House vote this weekend contained one initial mystery: how did they revise the Senate health care bill to make it more generous to the uninsured while simultaneously shaving more from the federal budget deficit?

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    We’ve heard a lot about the losers from state budget cuts but here’s an unlikely winner: state prisoners.

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    In a sunny Rose Garden ceremony, Obama said the legislation will help the private sector start hiring again.  It is the first of several jobs measures promised by Democrats this year.

  • Senate Republicans say the "door is open" to negotiating a bipartisan bill on financial reform with Democrats, but "there will be a lot of Republican votes against it as it is," says the GOP's senior member of the banking committee.

  • Close up of someone typing on a laptop.

    Tencent, the world’s third-largest internet company by market capitalization, said China’s crackdown on mobile text messaging was starting to hurt its business.

  • Surgeons

    President Barack Obama's much-challenged health care overhaul gained traction Wednesday as a liberal lawmaker became the first to switch his opposition and Catholic nuns declared their support in an unusual public break with the bishops.

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    Companies that hire unemployed workers will get a temporary payroll tax holiday under a bill that easily won final congressional approval Wednesday.

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    So where are the criminal indictments of Wall Street CEOs after the largest economic crime spree is U.S. history?

  • Speaker of the House Nancy Pelosi (D-CA) speaks during her weekly news conference at the US Capitol in Washington, DC.

    Speaker Pelosi is as good as it gets in wrestling votes for legislation she favors. She is the female version of that titan, Tip O'Neill (D. Mass.) who famously said, "All politics is local." But as good as she is, the Speaker seems to have come up short with the necessary votes to get the Senate version of the health care bill passed in the House of Representatives.

  • Sen. Christopher J. Dodd (D-CT) speaks at a news conference following the Senate's cloture vote on health care reform legislation on Capitol Hill.

    Sen. Chris Dodd’s financial-regulation proposal raises the possibility of substantial progress on the road to ending “too big to fail” and bailout nation for banks and other financial institutions.