Vice President Joe Biden took no questions Monday during his brief Briefing Room appearance at the White House. He was there to drive a message, not discuss. Iraqi security forces, with U.S. military support, had killed the two most senior leaders of Al Qaeda in Iraq, operational leader Abu Ayyub al-Masri and spiritual leader Abu Omar …
financial reform
The Call: Financial Reform and Tea Parties
This week’s podcast features TIME Senior Correspondent Michael Grunwald and Washington Correspondent Alex Altman. Enjoy:
That Didn’t Take Long…
I mentioned earlier that the Goldman fraud allegations would likely be wielded by Democrats as an exemplar in the financial reform fight. Yup. (Emphasis mine):
Washington, DC—Nevada Senator Harry Reid released the following statement today in response to SEC charges against Goldman Sachs regarding mortgage investments:
“Millions
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Re: More Bad News For Big Banks
Stephen Gandel over at the Curious Capitalist has some more context and analysis on the SEC action against Goldman.
Of political import:
The first question was who was damaged here. The answer is all of us. First of all, the investors who bought the securities lost about $50 billion on them. Those investors were mostly pension funds.
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More Bad News For Big Banks: Goldman Sachs Charged With Fraud
Last night, at a fundraiser in Florida, President Obama demonstrated just how hard he plans to take it to the banks in the coming months. He compared bank lobbyists to flesh-eating fish. No joke.
Now, it’s no surprise that the financial institutions that profit from the status quo have sent hordes of lobbyists to kill reform. It’s
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Resolution Authority and Bailouts, Continued
American Banker has a Q&A with FDIC Chair Sheila Bair today in which she largely echoes the sentiments of Senator Corker.
Do you see any way left for the government to bail out a financial institution?
BAIR: No, and that’s the whole idea. It was too easy for institutions to come and ask for help. They aren’t going to do that. This
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Bob Corker and Resolution Authority: Is Financial Reform a Recipe for Bailouts?
Senate Minority Leader Mitch McConnell came out in vociferous opposition to the current financial reform bill on Tuesday, arguing the legislation “institutionalizes… endless taxpayer-funded bailouts” that will ultimately allow the failed giants of Wall Street to escape accountability.
McConnell’s criticism comes at a pivotal …
On Derivatives, The White House and Senate Dems Hold A Line Against The Bank Lobby
For weeks now, suspense, like springtime pollen, has flitted through the air in Washington. The reason is something that almost no one in America understands: derivatives. One type of these complex financial products–credit default swaps–played a central role in the recent financial collapse, serving as a sort of Trojan Horse that hid …
A GOP Financial Reform Bellwether
Bit by bit, bipartisan negotiations in the Senate over financial regulatory reform have broken down. Richard Shelby, the ranking Republican on the Banking Committee split with the Democratic Chairman, Chris Dodd in February. Bob Corker filled the gap, stepping in to try to hammer out a compromise on an issue in which both parties see the …
Paul Volcker Sounds Hopeful On Financial Reform, With Some Warnings As Well
White House advisor Paul Volcker sounded hopeful Tuesday about the possibility of meaningful financial regulatory reform passing this year. “I do think we have the promising possibility of getting agreement here,” he said during lunchtime address to the Peterson Institute for International Economics. “I feel more optimistic now …
The Call: Financial Reg, Midterms and More
Just in case Karen’s health care Q&A isn’t quite enough to sate your hunger for Saturday podcast action, here’s Jay and Michael joining me for this week’s edition of The Call:
Bob Corker Is Outraged To Find Gambling In The Casino
Joe mentions Bob Corker the bipartisan deal maker below. We might also mention Bob Corker the Banking Committee fundraiser as well. The Tennessee Republican is running away from his own fundraisers, now that Politico has uncovered a Corker solicitation that sold in rather explicit terms access to Corker over the Easter break for $5,000 …
“Heidi Montag Says No to Plastic”
I’m not sure what’s more surprising here, that’s the guys pushing for financial reform have resorted to this or that Ron Howard directed the video. But it is pretty funny…
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