TIME’s photo editors bring you the best pictures of the past week from the Beltway and beyond.
Calling into question the entire foundation of neo-liberal economics and proposing one world financial order? You never know what those radicals over at the Pontifical Council for Justice and Peace will come up with next.
Texas governor and GOP presidential candidate Rick Perry still knows about as much about monetary policy as Sarah Palin knows about American history—or, for that matter, about monetary policy—but maybe there was a glimmer of insight in Perry’s dopey rant about Federal Reserve chairman Ben Bernanke’s treasonous plot to re-elect President Obama. Because if you [...]
Michael Grunwald joins me for this week’s podcast:
By a 60-39 vote Thursday, the Senate passed legislation that re-calibrates the flow of capital through the American financial sector and provides new powers to the regulatory regime that oversees it. The final bill is the culmination of a near two-year effort launched after 2008′s Wall Street crisis thrust the nation into recession and marks [...]
For all the talk of being the “41st Senator” (thus denying the Democrats their supermajority), Scott Brown sure has a knack for delivering numero 60 for Harry Reid and Co. in a pinch. You may remember the time he saved the Democrats’ jobs bill. Today the Massachusetts Senator, who won late-in-the-game concessions in conference committee, [...]
A little while back, a reader asked me, “what is in the [financial reform] bill that affects us little people?” I gave only a very cursory answer, but the first item on my list was the Consumer Finance Protection Bureau. By overseeing the loans and financial products companies sell to individual consumers, the CFPB has [...]
Maria Cantwell intends to vote for the bill, her spokesman tells me. She was won over by a letter from Commodity Futures Trading Commission Chairman Gary Gensler, in which he reassured her the language regulating derivatives is sufficiently clear and enforceable. Cantwell voted against the original Senate version because of concerns that there were loopholes [...]
The House of Representatives passed a sweeping overhaul of America’s financial sector and the regulatory structure that oversees it Wednesday evening, the penultimate step in a two-year effort sparked by the 2008 crisis. The 237-192 vote split largely along party lines, with most Democrats supporting the measure and most Republicans opposing it. The version of [...]
