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Law Legislation

  • Meredith Whitney on Closing Bell

    Despite relatively strong second-quarter earnings, US banks are still suffering from poor revenue growth and will continue to do so into next year, financial analyst Meredith Whitney told CNBC.

  • Goldman Sachs

    Facing pressure from critics of Wall Street to limit its role in elections, Goldman Sachs  has pledged not to spend any of its vast corporate reserves on political advertising. The NYT reports.

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    During the go-go days of lending in California (and Nevada, and Florida, and...), people who could prove they had a pulse were hired as mortgage brokers or loan officers. They made loans to other people who could prove they had a pulse, even if they didn't need to prove income. It did not turn out well.

  • Yes, they need to be cut. It’s how to do it. In Newsweek, Fareed Zakaria states, “Raise My Taxes, Mr. President!” and the NYT Sunday Op-Ed had something similar entitled, “What They’re Not Telling You.” Both articles are worth reading to understand the US fiscal deficit and how it became $1.4 trillion.

  • History shows that the S&P 500's performance during the three calendar months leading up to the presidential election have been a good predictor of whether the president or his party are re-elected.

  • The 850-pound "Bahia Emerald"

    The case of who really owns the 840-pound Bahia emerald is headed to trial in September after a judge rejected a motion to dismiss a Northern California man's ownership claim.

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    Dueling pieces of legislation, both of which were introduced in Congress in July, address the issue of whether to close the loophole that allows online shoppers in most states to avoid paying  sales tax.

  • As the markets and businesses delve into the recent major pieces of legislation, they find the bills contained onerous provisions that mandate non-economic activity and increases in costs.

  • "The argument that raising the marginal rate somehow hurts economy activity has been tested," Frank said. "When Bill Clinton became president in 1993, I voted with his policy to take the marginal rate, the top parts of income, from 36 percent to 39 percent. It had zero negative impact."

  • Now here's a real Democratic supply-side reformer in the John Kennedy tradition. Sen. Bayh has explicitly chosen growth over class warfare.

  • Crisis in the Gulf

    1st paragraph of story should go here

  • Jeffrey Skilling

    Former Enron CEO Jeffrey Skilling’who is three-and-a-half years into a 24-year prison sentence—wants out of jail while a federal appeals court reconsiders his case.

  • A dead fish coated in heavy oil floats near shore June 4, 2010 near East Grand Terre Island, Louisiana.

    The oil is clearing much faster than expected, but concern remains over the unseen effects. The NYT reports.

  • An oil-stained Sandwich Tern sits on oil absorbent boom in Long Bay on June 19, 2010 west of Port Sulpher, Louisiana. The bird was reported and delivered to the Louisiana Department of Wildlife and Fisheries for rehabilitation.

    As BP transitions to a new CEO, the company is also subtly transitioning to a new, more aggressive strategy when it comes to its liabilities for the Gulf oil spill.

  • Does the price action on major banks in Europe tell investors that the continent is now not a threat to risk appetite and that Wall Street can mount a sustained rally without a repeat of May’s negative blow-up?

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    Under a little noticed provision of the Dodd-Frank Wall Street reform bill, the government will pay bounties that could amount to millions of dollars to whistle-blowers who bring evidence of fraud to the Securities and Exchange Commission.

  • businessman_whistling_200.jpg

    Under little-noticed new provisions of the Dodd-Frank Wall Street reform law, whistleblowers who alert the SEC to potential fraud will for the first time be entitled to collect between 10- and- 30 percent of the money recovered by the government.

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    Corporate bonds are registered securities—municipal bonds are not. That key distinction is meaningful as details of the new law are unraveled and especially meaningful in light of the controversy surrounding bond sales and the ratings agencies.

  • Apple iPhone

    Owners of the iPhone will be able to break electronic locks on their devices in order to download applications that have not been approved by Apple.The government is making that legal under new rules announced Monday.

  • Every year, government agencies put forth ideas on how their particular department can save money. This year, the Obama administration is proposing 126 cost saving measures totaling $23 billion for the 2011 federal budget. Some of these measures are big-ticket items involving the reduction or deletion of specific programs that can save hundreds of millions or even billions of dollars on their own.Other measures are small, common cost-saving measures that often equate to turning out the lights wh

    Take a look at 10 cost-saving measures the administration is considering that do not involve staffing reductions or elimination of programs — measures that could be implemented today.