Senate to Reduce Scale of TARP

Last night, the Senate agreed to a proposal by Sen. Michael Bennet (D-Colo.) to reduce the funds available to TARP, the Troubled Asset Relief Program, from $700 billion to $550 billion. Bennet’s amendment to Sen. Chris Dodd’s (D-Conn.) financial regulatory reform proposal also requires bailout funds repaid by Wall Street More…

Condemnation of AIG Coming From All Sides

Congressional leaders from all walks are joining President Obama in berating AIG for doling out millions in bonuses after accepting $170 billion in federal help.

Senate Majority Leader Harry Reid (D-Nev.) took to the chamber floor today to decry the news as a “breach of public trust,” while Senate More…