In the first week of July, Andie Davis’ husband, who worked in manufacturing, lost his job, as hundreds of thousands of Michiganders have since the onset of the recession. Soon after, he started collecting unemployment insurance benefits that might last the family of four as long as 99 weeks. Davis More…
Today’s news that Sen. Richard Shelby (R-Ala.) cut a deal with Sen. Chris Dodd (D-Conn.) to remove the “bailout fund” — a $50 billion pool taxed from banks to be used by the government to wind down ailing financial firms — came as a surprise to no one in More…
Rather than taking a fourth cloture vote, the Senate just agreed to start formal debate on Sen. Chris Dodd’s (D-Conn.) financial regulatory reform bill by unanimous consent.
Earlier this afternoon, Senate Minority Leader Mitch McConnell (R-Ky.) said Republicans would no longer stand in opposition to the bill reaching the More…
This week, Sen. Chris Dodd’s (D-Conn.) financial regulatory reform bill moved to the floor of the Senate. And with that bill close to passage, Wall Street and lobbyists turned their attention to Sen. Blanche Lincoln (D-Ark.) and the Senate Agriculture Committee’s proposal to regulate More…
The White House wants it. Senate leaders support it. The House has already passed it. And, in the wake of the worst financial upheaval since the Great Depression, many consumer groups and state regulators say it’s vital if the country is to avoid another economic collapse. Yet the proposal to More…
If you were wondering what security and investment firms spent $93 million lobbying about last year, look no further than today’s New York Times, in which Tara Siegel Bernard reveals that they are lobbying for the right to give you bad financial advice as More…
An ambitious plan to update the Carter-era Community Reinvestment Act that supporters hope to see signed into law in 2010 comes amid charges that this legislation was responsible for nothing less than the subprime crisis and the resulting collapse of the residential real estate market.
The plan, sponsored by More…
At noon today, Sen. Chris Dodd (D-Conn.), from his home on Main Street in East Haddam, officially announced his retirement from Congress at the end of the year. For the five-term senator, it wasn’t supposed to end this way.
Though his father was a prominent U.S. senator, Dodd More…
As a House committee begins tackling major financial regulatory reform, consumer advocates find themselves shaking their heads over why something that should have been a slam dunk — reining in the financial industry in the wake of the subprime crisis — has turned into a hard-fought battle More…
Appearing on Wall Street today, President Obama accused some of the nation’s financial institutions of “misreading” the economy’s nascent recovery, and urged Congress to pass strict new banking regulations to prevent the industry’s “reckless behavior” from spurring another economic collapse.
We will not go back to the days
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