Earlier this week, Rep. Brad Sherman (D-Calif.) told Fox News that he doesn’t support a tax hike to pay for the Afghanistan war until the nation’s jobless rate drops below 5 percent.
I think we should pay for this war, but we should pay for it after the
Appearing before a House panel on Thursday, Treasury Secretary Tim Geithner made his best pitch for legislation granting the White House broad new powers to seize Wall Street firms when their collapse might torpedo others in the industry.
It didn’t go so well.
[Congress1]A number of Democrats on the House More…
Treasury Secretary Tim Geithner, who’s testifying this morning before the House Financial Services Committee on legislation empowering the White House to take over Wall Street firms when their failure threatens the finance system on the whole, just made a curious claim. Asked by Rep. Maxine Waters (D-Calif.) whether More…
Different bill; same concerns.
House Democrats introduced legislation Tuesday granting the White House broad new authority to bail out investment houses and other non-banks when their potential collapse is a threat to the larger financial system. But while the bill goes far beyond a similar White House proposal More…
In the wake of the recent financial meltdown, it sounds like a reasonable idea: A proposal granting the White House broad new authority to take over when a failing institution threatens to drag others — perhaps the whole economy — down with it.
Yet that proposal, included as a part More…
The Federal Reserve on Thursday proposed a new program of monitoring executive compensation at the nation’s largest financial institutions, a move designed to prevent banks from using pay incentives that encourage risky transactions like those that recently toppled the global economy.
Long before the AIG bonus scandal erupted this month, Rep. Brad Sherman (D-Calif.) was at the forefront of (failed) congressional efforts to install stricter pay limits for employees of bailed out banks. Sherman was an early critic of the Troubled Asset Relief Program, arguing last fall that it didn’t More…
Rep. Brad Sherman (D-Calif.) challenged Treasury Secretary Timothy Geithner today to release details of bonuses given to executives of companies that have received TARP funds, Talking Points Memo reports.
When Geithner didn’t immediately jump on the idea, Sherman jumped on him.
“You won’t commit to telling the American people how More…
As Weigel pointed out earlier, the GOP appears poised to make a strategy of blaming Democrats — notably Senate Banking Committee Chairman Chris Dodd (Conn.) — for allowing the AIG bonuses that have become so controversial this week.
We pointed out a few reasons earlier today why Dodd More…
As House leaders are debating a bill to apply a 90 percent tax on controversial bonuses paid by bailout recipients like AIG, at least one Democrat has already found a gaping loophole.
Rep. Brad Sherman (D-Calif.), a member of the House Financial Services Committee, said the bill might rein in More…
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