For those with a basic grasp of (non-political) economics and a keen memory for how massive consumer fraud and non-transparent financial products helped cause the current economic crisis, it’s an obvious proposition: Helping consumers avoid fraud, usury, overly powerful banks and fee-hungry brokers is good for the economy. But a More…
As if it weren’t difficult enough to avoid being tricked by your credit card company into fees, higher interest rates and variable rates that only ever go up, Andrew Martin and Ron Lieber of The New York Times report on the aggressive campaign by your bank More…
Sen. Charles Grassley (Iowa), senior Republican on the Finance Committee, told reporters today that he will oppose Ben Bernanke’s bid for a second term atop the Federal Reserve, citing “concerns about inflation and the pattern of resistance to accountability.”
We need a chairman focused on a strong dollar and low
Late last week, it seemed as if the tide of Democratic support was shifting away from Ben Bernanke’s bid to serve a second term atop the Federal Reserve. Just a few days later, he’s not looking so bad.
Over the weekend, Bernanke won the endorsement of Sens. Chris More…
Things aren’t looking up for Ben Bernanke, nominated by President Obama for a second term as head of the Federal Reserve. Sen. Barbara Boxer (Calif.) has become the latest Democrat to announce her opposition, reports Ryan Grim at The Huffington Post.
“I have a lot of respect for
It’s no mystery that Treasury Secretary Tim Geithner has been opposed to some of the very bank reforms proposed by President Obama yesterday (which explains why those reforms weren’t rolled out earlier). But it’s quite another thing for Geithner to go behind Obama’s back and grumble More…
Here’s the statement just released by Sen. Russ Feingold (D-Wis.), explaining why he intends to oppose Federal Reserve Chairman Ben Bernanke’s bid for a second term:
A chief responsibility of the Chairman of the Federal Reserve is to ensure a sound financial system. Under the watch of Ben
Here’s the letter from Rep. Edolphus Towns (D-N.Y.), chairman of the House Oversight and Government Reform Committee, asking Treasury Secretary Tim Geithner to testify later this month on the more than $60 billion filtered to Goldman Sachs and other Wall Street giants as part of the AIG bailout. Bloomberg News More…
The Federal Reserve has instructed federal investigators to withhold from Congress certain documents related to the Fed’s payments to AIG counterparties, according to a recent letter from Neil Barofsky TARP inspector general, to Rep. Darrell Issa (R-Calif.). The letter, available here, was published on Issa’s site.
“The Federal Reserve More…
Here’s part of today’s statement from Senate Banking Chairman Christopher Dodd (D-Conn.), announcing his support for a second term for Federal Reserve Chairman Ben Bernanke.
I intend to vote to support your nomination in this Committee and on the floor of the United States Senate, because I believe that you
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