Morning Money has posted a Goldman Sachs research report, and it seems the investment bank is spooked by just one thing in the financial regulatory reform bill: Sen. Blanche Lincoln’s (D-Ark.) derivatives spin-off language.
To the extent that strains in European sovereign debt and short-term money markets cause broader
The Senate just voted on two amendments tackling the loss-taking government-sponsored enterprises Fannie Mae and Freddie Mac, which stabilize the mortgage market at a $7 billion-per-month cost.
Sens. John McCain (R-Ariz), Richard Shelby (R-Ala.) and Judd Gregg’s (R-N.H.) amendment to end Fannie and Freddie’s governmental conservatorships within three years and More…
In a symbolic gesture, the Senate this afternoon approved a resolution calling for the immediate release of Aung San Suu Kyi, the Burmese pro-democacy activist and Nobel Laureate whose been under house arrest at the hands of Burma’s military leaders for most of the last two decades. The resolution also More…
For months, Republicans have insisted that Congress should deal with Fannie Mae and Freddie Mac — the government-sponsored enterprises backstopping 90 percent of mortgages, which have received around $125 billion in taxpayer aid — in financial regulatory reform.
But their financial regulatory reform counterproposal offered little by way of More…
This morning, Treasury Secretary Timothy Geithner published an opinion piece in The Washington Post. In it, he argues:
Ending “too big to fail” also requires building stronger shock absorbers throughout the system so it can better withstand the next financial storm. To do that, the Senate bill closes loopholes
The two central theories behind the deficit commission created yesterday by President Obama are (1) Congress is too dysfunctional to make these tough choices on its own, and (2) everything must be left on the table as a possible solution to runaway deficit spending. That means that liberals More…
Here’s how history gets rewritten: Last week, the Senate killed legislation to create a bipartisan panel designed to tackle the country’s skyrocketing debt. President Obama endorsed it — as did many conservative Republicans — but it failed after six GOP co-sponsors and Senate Minority More…
The trouble facing Democrats hoping to use repaid bailout money to fund other things is this: The Troubled Asset Relief Program stipulates that all such funds be used to pay down the nation’s staggering debt.
That little inconvenience hasn’t dissuaded the Obama administration from proposing a More…
After a good deal of public airing, the Senate last week shot down a proposal empowering a bipartisan budget panel to recommend deficit-slashing strategies that Congress would then be forced to consider. Politico’s Mike Allen pointed out Tuesday that six GOP co-sponsors, including 2008 president candidate More…
The official line coming from the six GOP senators who sponsored, then voted against, the failed proposal to create a deficit commission was that they didn’t realize it would allow the panel to suggest tax hikes as a step toward balancing the federal budget.
A spokesman More…
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