While FAA inspectors complained that they've had to cancel inspections because of the agency's tight travel budget, the GAO said it couldn't confirm the assertions because the FAA said doesn't keep separate data on travel expenditures for oversight of foreign repair stations. The report also criticized the FAA for not collecting data from airlines on the... » Read More
With the possible collapse of the Congressional health care effort, health insurers might seem to have reason to celebrate. The legislation threatened to remake much of their business, with the prospect of burdensome government regulation and less profit from selling coverage to individuals and small businesses. The New York Times reports.
President Obama wants to cut down to size those too-big-to-fail banks. But his vow on Thursday to rewrite the rules of Wall Street left many questions unanswered, the New York Times reports, including the big one: Would this really prevent another financial crisis?
President Obama's crackdown on big banks could slow the economic recovery and spark a major selloff in stocks, some experts said.
The Supreme Court struck down Thursday long-standing limits on corporate spending in U.S. political campaigns, such as this year's congressional races and the 2012 presidential contest.
The banking industry has unfairly come into the crosshairs of both the public and politicians, former Bear Stearns CEO Alan "Ace" Greenberg said.
Introducing legislation separating investment banks from commercial banks would be a "boon" for shareholders, despite banks' opposition, Richard Bove, banking analyst at Rochdale Securities, told CNBC Thursday.
The bigger upshot from the Massachusetts vote is this: Maybe we weren't repudiating 30 years of Reagan-style, less-is-better government when we elected Barack Obama president. Maybe we voted for the man because we liked him—and now we're realizing we DON'T like his policies.
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President Barack Obama on Wednesday ordered a new crackdown on federal contractors who don't pay their taxes.
President Obama and his Democratic Party have declined considerably in popularity in the year since he took office, weighed down by public discontent over the economy and the health care debate in Congress, according to a new NBC News/Wall Street Journal poll.
The US Supreme Court on Tuesday refused to order immediate closure of shipping locks near Chicago to prevent Asian carp from infesting the Great Lakes. The court rejected a request by Michigan for a preliminary injunction to close the locks temporarily while a long-term solution is sought to the threatened invasion by the ravenous fish.
This weekend, Democrats are struggling to hang on to a seat held by Mr. Kennedy for 46 years in one of the most enthusiastically Democratic states in the country. Conservatives are enjoying a grass-roots resurgence, and Republicans are talking about taking back the House in November.
Senate banking negotiators are discussing plans that could significantly weaken - or even jettison - President Barack Obama's proposed independent consumer finance agency.
President Obama's proposed bank tax will not damage the economy and is a fair way to reimburse taxpayers for the Wall Street bailout, Treasury Secretary Timothy Geithner told CNBC.
Striving to close the deal on health care, President Barack Obama planned a trip to Capitol Hill on Thursday to urge rank-and-file House Democrats to yield on key issues still standing in the way.
Should someone in Idaho or Nevada have significantly different health care coverage from someone in Massachusetts? That, essentially, is one of the biggest questions Congress will be wrestling with as it tries to meld House and Senate bills into a single law to revamp the nation’s health care system.
Health care reform is "hanging on by a thread," and one or two votes could determine the outcome of the heavily-debated bill, Democratic Senator Chris Dodd told CNBC Monday.
Tax inspectors had already been increasing their focus on multinational businesses, specifically taking aim at an arcane area of international accounting called transfer pricing. Such scrutiny is intensifying, according to tax experts, as governments seek ways to close their growing budget deficits.
A group of investors in Allen Stanford's alleged Ponzi scheme are demanding a powerful Texas congressman give them the same kind of support he showed Stanford when regulators shut down the alleged scam in February.
New York State’s courts are closing the year with 4.7 million cases — the highest tally ever — and new statistics suggest that courtrooms are now seeing the delayed result of the country’s economic collapse. The New York Times reports.