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Senate Banking Committee Chairman Chris Dodd said he was hopeful a bipartisan agreement on a sweeping package of financial regulatory reforms could be reached in the coming days, but admitted there were still key differences between his party and the GOP.
Senate Banking Committee members Thursday continued talks in the hope of crafting a bipartisan bill covering sweeping reform of the financial sector, with panel chairman Christopher Dodd signaling that there was still no agreement yet on where and how a new consumer watchdog agency would fit into the current regulatory structure.
"We’re really close," said Sen. Bob Corker (R-Tenn.). "We’ve had a really good day. We’re getting to a place where Democrats and Republicans both can get comfortable with this. March 3 has been the best day yet in the process."
Three senior GOP members of the Senate Banking Committee have made a new proposal for the consumer financial protection agency to Democratic chairman Christopher Dodd.
Rush Limbaugh was pretty fired up about my interview earlier this week with Cato's Alan Reynolds.
President Obama’s new health-care push would apply the 2.9 percent health-care payroll tax to investments. We’ve never done this before. If we do, with the Bush tax cuts set to expire, the tax rate on capital gains and dividends could jack up over 50 percent.
A proposal to give the Federal Reserve the primary responsibility for protecting consumers from abusive and deceptive financial products emerged on Tuesday as a potential breakthrough after months of partisan gridlock in the Senate over the terms of a broad overhaul of financial regulations.
By maintaining a quixotic filibuster against a Senate jobless bill, Senator Jim Bunning lit the fire of Democratic and Republican hyperbole against him.
We need more legislators who are pragmatists and centrists to take the helm and provide true leadership. We need legislators who can find solutions and not hide behind obstructionist rhetoric. The fringe elements of both parties today have wrested control from the silent majority. The squeaky wheels are getting all the grease, while the axle is falling apart.
Obama planned to send a letter to Democratic congressional leaders later in the day detailing his plan and make a statement at the White House on Wednesday.
Under the latest proposal, the Federal Reserve would be given new powers to protect consumers in dealing with financial services companies and their products, according to sources.
A weekend of talks between Senate Banking Committee Chairman Christopher Dodd (D-Conn.) and Bob Corker (R-Tenn.) yielded some progress on crafting a bipartisan bill for financial regulatory reform, but there's no indication that a deal is imminent, several sources said.
Positions were formed long ago and the talk-fest provided photo ops and little more. Observers took away what they wanted.
Senate negotiators continue to work on a bipartisan financial regulatory-reform bill, following talks Saturday that yielded no "real progress", according to one source.
Senate Banking Committee Chairman Christopher Dodd has offered a slightly watered-down proposal for a consumer watchdog agency for financial products in an effort to win Republican support.
Senate Banking Committee Chairman Christopher Dodd (D-Conn.) and Republican member Bob Corker (R-Tenn.) are closer than ever to drafting a bipartisan bill on financial regulatory reform, but negotiations will stretch into next week, according to Congressional sources.
The two senators introduced a bill this week, which they modestly called the Bipartisan Tax Fairness and Simplification Act of 2010. The New York Times looks at what it means.
The Obama administration is planning to use the government’s enormous buying power to prod private companies to improve wages and benefits for millions of workers, according to White House officials and several interest groups briefed on the plan.
As key senators continue work on crafting a bipartisan bill for financial reform, Treasury Secretary Timothy Geithner is meeting with major trade groups today in an effort to build momentum.
The Obama administration redoubled its efforts on Tuesday to overhaul the nation’s financial regulations, saying it would not back down from its efforts to restrict the trading activities of banks and to create a consumer agency to regulate financial products.