The White House announced Friday that it will nominate Thomas M. Hoenig, a native of Fort Madison, to the position of vice-chairman of the board of directors for the Federal Deposit Insurance Corporation.
Tom Hoenig
Hoenig, the son of a local plumber and a graduate of St. Benedict’s More…
In an effort to further outpace campaign finance disclosure rules, supporters of presidential candidate Rick Perry have formed a group which, under IRS rules, can accept unlimited contributions from secret donors.
Today, there are two stories worth reading on the nexus of big finance and education. The first, in The Chronicle of Higher Education, reports that Nelnet — a Nebraska-based lending conglomerate — Sallie Mae, and other lenders will pay fines for defrauding taxpayers out of $1 billion:
This morning, Senate Minority Leader Mitch McConnell (Ky.) spoke out against the financial regulatory reform bill expected to come up for a Senate vote sometime at the end of the month. The central gist of the argument is that the bill puts the taxpayers on the hook for future More…
I’m pleased to announce that Megan Carpentier is joining the TWI team today — and for the weeks to come — as a guest blogger, covering the economy beat. Megan served as the news and politics editor of Air America until it (sadly) went under last month. Prior to that, More…
The economy continued down its rough road in 2009, with any hope of a quick recovery dashed by a rising wave of foreclosures and unemployment. Banks reined in lending to consumers and businesses while Wall Street firms pulled down record profits and offered generous bonuses. Perhaps the biggest economic More…
The premiere lobby group representing the private equity industry has surprised many observers by staying neutral in the epic battle between business and labor over the Employee Free Choice Act, a bill that would dramatically alter the rules for forming a union.
Unions support the bill because it would More…
With a new administration, dozens of new members of Congress, billions of dollars in stimulus spending up for grabs, and multiple national crises, 2009 is shaping up to be an intense year for the lobbying industry.
Politico is laying its bets on the biggest upcoming lobbying fights: 1) Gays in More…
The fight that neighborhoods in Cleveland are launching against banks that dump vacant and vandalized foreclosed homes back onto the real estate market received a bit of a setback, as I noted in my story Monday. A private, non-profit housing advocacy group had filed suit in local housing court More…
That’s the question Yves Smith at Naked Capitalism asks about Bernie Madoff’s huge Ponzi scheme. He also raises another good point: Why didn’t Madoff make a run for it?
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