Treasury Secretary Tim Geithner, who’s testifying this morning before the House Financial Services Committee on legislation empowering the White House to take over Wall Street firms when their failure threatens the finance system on the whole, just made a curious claim. Asked by Rep. Maxine Waters (D-Calif.) whether More…
Different bill; same concerns.
House Democrats introduced legislation Tuesday granting the White House broad new authority to bail out investment houses and other non-banks when their potential collapse is a threat to the larger financial system. But while the bill goes far beyond a similar White House proposal More…
A House Oversight and Government Reform hearing on the controversial merger between Bank of America and Merrill Lynch has been postponed “due to additional documents recently received,” the panel announced today.
The hearing, initially to be held Thursday, has not been rescheduled.
He was practically a fixture on Capitol Hill during the Wall Street bailout debate and subsequent oversight discussions. But Ken Lewis, CEO of Bank of America, is set to retire at the end of the year.
Lewis and BoA have been in hot water over their government-backed deal to More…
Less than two weeks after Goldman Sachs posted record quarterly profits, some congressional lawmakers are wondering if the Wall Street giant isn’t taking dangerous risks in its investment strategy — risks similar to those that led to the recent financial collapse.
In a letter today to Federal Reserve More…
Since the Wall Street bailout was signed into law last October, critics of the strategy have often been met with a central reassurance from leaders of the Treasury Department and the Federal Reserve: The taxpayer-funded rescue, these officials have said, is not a bailout at all, but an investment that More…
Just a few days after Federal Reserve Chairman Ben Bernanke testified before House lawmakers about his role in Bank of America’s controversial buyout of Merrill Lynch, House Oversight and Government Reform Chairman Edolphus Towns (D-N.Y.) announced that former Treasury Secretary Henry Paulson will be the next official to take the More…
Federal Reserve Chairman Ben Bernanke is testifying this morning before the House Oversight and Government Reform Committee about his role in catalyzing Bank of America’s controversial December buyout of Merrill Lynch.
The saga made headlines this spring when former BoA CEO Ken Lewis told New York’s attorney general that he More…
Just how tough are the Obama administration’s new executive compensation limits for bailed out firms? Well, as a hint, Wall Street sees them as no threat at all. Indeed, The Washington Post today gets a few telling quotes from bankers who are giddy that these are the only More…
Earlier this week, Legistorm discovered that the House Clerk’s Office had posted lawmakers’ latest financial disclosure forms — scheduled for release Friday — a few days early. The Washington Post dug through the records yesterday to find that some of the top cheerleaders for the $700 billion Wall More…
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