After 99 weeks, or more, of unemployment, traveling to a political rally is a luxury. Across the country, thousands of 99ers, Americans who have exhausted the maximum weeks of unemployment benefits, have written letters or called Congress advocating for legislation extending benefits or creating jobs programs. But the first 99ers More…
Rep. Maxine Waters (D-Calif.) will face a House ethics trial over allegations that she intervened to encourage the bailout of a bank her husband owned stock in. Waters sits on the House Financial Services Committee, and is the head of its housing and community opportunity subcommittee.
The More…
Wall Street giving to Democrats is down this election cycle, and Republicans are having even worse luck tapping into bankers’ largess. But Rep. Eric Cantor (R-VA), the House minority whip, is cleaning up:
President Obama and the Democrats are both kicking their midterm election efforts into a higher gear today. The President held a fundraiser for the Democratic National Committee last night in DC, is hosting two more DNC events today in New York City, and will host four more events around More…
This afternoon, the U.S. Senate passed a sweeping financial regulatory reform bill, overhauling the regulation of everything from the biggest banks to consumer financial products to exotic instruments like credit-default swaps to the derivatives used by farmers. The bill passed 60 to 39.
[Congress1] Earlier on Thursday, Republicans Olympia More…
The headline on a top story in The New York Times today reads: “Wall Street Hiring in Anticipation of an Economic Recovery.” And here are the summary paragraphs:
The shift [towards hiring] underscores the remarkable recovery of the biggest banks and brokerage firms since Washington rescued them in the
In the past few days, both The Washington Post and Politico have run stories on the dramatic drop in contributions from Wall Street donors to Democrats. From the Post’s story:
A revolt among big donors on Wall Street is hurting fundraising for the Democrats’ two congressional campaign committees, with
David Cho reports that moderate Democrats, with the support of the Democratic leadership, are pressuring Sen. Blanche Lincoln (D-Ark.) to scale back a proposal that would force derivatives to be cleared on an exchange instead of being traded in private deals:
At the meeting among key Democrats in the
Mike Konczal, Roosevelt Institution fellow and the blogger known as Rortybomb, tells us how to get the best out of the House and Senate FinReg bills, focusing on a few crucial provisions:
Last night, after falling in the polls in recent days, Sen. Blanche Lincoln (D-Ark.) managed to eke out a win in her primary runoff against Lt. Gov. Bill Halter. Lincoln is a conferee on the committee to merge the House and Senate versions of the financial regulatory reform bill, More…
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