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Law Legislation

  • Federal_reserve_blg_seal3.jpg

    With the economy weakening and fears growing of a double-dip recession,  the Federal Reserve is under pressure from some quarters to do more to help the economy.  But even Fed officials seem to be split over how the central bank could or should respond.

  • Alan Greenspan

    The stock market rally over the past few days has been encouraging and represent real profits, former Federal Reserve chairman Alan Greenspan told CNBC Thursday.

  • Timothy Geithner

    Taxes on US businesses are about average compared to those in the rest of the world, Treasury Secretary Tim Geithner told CNBC Wednesday.

  • Richard W. Fisher, president of the Federal Bank of Dallas

    The US government has inhibited economic growth by creating uncertainty about business costs, Dallas Fed President Richard Fisher told CNBC. Questions about healthcare expenses, for instance, have kept businesses from hiring new workers, he said.

  • 401k.jpg

    The Securities and Exchange Commission has introduced new rules to help investors figure out how target-date funds in their 401(k) and other retirement accounts are supposed to hit their target.

  • Publisher: MicrosoftCopies sold: 2 million on the Initially conceived as a side project, the latest installment in the “Halo” franchise took on a life of its own during development. It’s a different type of game than its predecessors, with no sign of the series hero - the Master Chief. Fans snatched it up, though and critics applauded the new style of play.

    At issue isn’t whether publishers can make violent games, but whether states can impose sales restrictions on those titles—effectively declaring them to be on the same level as pornography and legally limit their sale.

  • american_bank.jpg

    The removal of the barrier on paying interest on commercial demand deposits is going to be a big bottom-line negative for a wide number of institutions, according to H. Rodgin Cohen of Sullivan and Cromwell.

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    As the cash-poor states across the US struggle to pay their bills, two cities within especially distressed states—California and Pennsylvania—are emblematic of just how tough closing budget gaps can be. Vallejo, Calif. is in bankruptcy and, across the country, Harrisburg, Pa., the state capital, is insolvent.

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    Even as most Americans got ready to face the July 4th holiday weekend traffic, members of the United States Congress had already left town.

  • capitol_building_wallst_mainst.jpg

    Don’t you just love political cross dressing? Last night on CNBC my old boss David Stockman was totally root-canalled as he called for higher taxes and lower spending. Right on spending, but wrong on taxes.

  • beach_house.jpg

    You need look no further than this morning's news. Congress, at the eleventh hour, passes an extension of the closing date on the home buyer tax credit. It was supposed to expire at midnight last night.

  • mortgage_calculator.jpg

    A housing sector without Fannie Mae spacer and Freddie Mac is a possibility, Edward J. DeMarco, director of Federal Housing Finance Agency (FHFA), told CNBC Thursday.

  • video_game_playing_200.jpg

    With the Supreme Court scheduled to hear arguments later this year about whether states should be allowed to regulate the sale of violent video games, you might think game makers would consider dialing down the number of shooter titles.

  • San Francisco

    California has about 225,000 organized state employees—still—and many have been forced to take three-day-a-month furloughs without pay. A few thousand of them converged on the Capitol Wednesday to protest threats by the Governor to impose the $7.25 minimum wage on them starting Thursday. There's no budget, and no solution to the $19.1 billion deficit.

  • Anna Chapman

    Anna Chapman has been called the femme fatale of a spy case with Cold War-style intrigue — a striking redhead and self-styled entrepreneur who dabbled in real estate and mused on her Facebook page, "if you can dream, you can become it." Chapman's American dream, U.S. authorities say, was a ruse.

  • obama_barack_043010_200.jpg

    Seizing on a political opportunity, President Barack Obama on Wednesday lashed out at Republicans as out of touch with the daily problems of Americans, hoping to sharpen the contrast with the opposition party as midterm elections loom and economic anxiety still runs high.

  • US Capitol Building with cash

    After analyzing Washington for 35 years, it’s excusable to be a cynic. Actually, it’s mandatory. So let’s try out this extremely cynical premise: the Republicans are deliberately refusing to help unemployed workers or aid the states because they undoubtedly know this will hurt the economy further – and an ailing economy will help their prospects in November.

  • 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.

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    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.