One of the ongoing criticisms of the Federal Reserve is that, despite its expertise and mandate, it presided over the failing institutions and didn’t understand enough about the complex transactions that triggered this financial crisis — not to mention that it hardly has the best interests of the consumers of More…
Recent media reports that Citigroup had discovered a potential way around regulations forbidding it from abusive rate hikes sparked more than a public outcry; it convinced Citi’s competitors to follow suit. Since the regulations are set to take effect Monday, card companies are scrambling to inform customers about More…
A central element of the Democrats’ strategy to stabilize the economy — empowering homeowners to prevent foreclosures through bankruptcy — has hit a wall in the Senate, where fierce opposition from the finance industry is threatening to kill the proposal this week.
Despite major concessions to the banks at the More…
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