Last week, Fannie Mae announced it lost $1.2 billion in the second quarter and asked the Treasury Department for an additional $1.5 billion to see it through.
This afternoon, the U.S. Senate passed a sweeping financial regulatory reform bill, overhauling the regulation of everything from the biggest banks to consumer financial products to exotic instruments like credit-default swaps to the derivatives used by farmers. The bill passed 60 to 39.
[Congress1] Earlier on Thursday, Republicans Olympia More…
The best explanatory writing about the final financial regulatory reform bill will happen this weekend, rather than today. Why? Last night, the members of Congress convened did much of their negotiating behind closed doors, and made dozens of minute changes to complicated provisions up until 5:39 a.m., and reporters don’t More…
David Cho reports that moderate Democrats, with the support of the Democratic leadership, are pressuring Sen. Blanche Lincoln (D-Ark.) to scale back a proposal that would force derivatives to be cleared on an exchange instead of being traded in private deals:
At the meeting among key Democrats in the
Via David Dayen, Tom Braithwaite at the Financial Times reports a blockbuster for proponents of strong bank reform: Sen. Blanche Lincoln’s (D-Ark.) provision to force Wall Street banks to spin off their swaps desks, something I thought dead in the water, might make it into the merged Senate More…
Mike Konczal, Roosevelt Institution fellow and the blogger known as Rortybomb, tells us how to get the best out of the House and Senate FinReg bills, focusing on a few crucial provisions:
Last night, after falling in the polls in recent days, Sen. Blanche Lincoln (D-Ark.) managed to eke out a win in her primary runoff against Lt. Gov. Bill Halter. Lincoln is a conferee on the committee to merge the House and Senate versions of the financial regulatory reform bill, More…
The conference committee to merge the Senate and House financial regulatory reform bills begins on Thursday, but the negotiating has long been underway behind closed doors, with Republicans determining the measures they most wish to block and Democrats determining the measures they most wish to champion.
The point of greatest More…
I’ll have a story up soon on today’s testimony from Warren Buffett, the head of investment giant Berkshire Hathaway, to the Financial Crisis Inquiry Commission on the role of credit rating agencies in the financial crisis and recession.
But here’s one nugget. Brooksley Born, the former head of the Commodity More…
TWI’s Annie Lowrey makes another appearance on Bloggingheads.tv today, discussing all things financial with Rortybomb’s Mike Konczal: regulatory reform, Blanche Lincoln’s derivatives proposal, Fannie and Freddie and the economic impact of the oil spill. Check out the video after the jump:
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