Check Off Another Securitization Fraud Task Force Promise

By: Wednesday May 9, 2012 11:36 am

One of the items Eric Schneiderman has been using to push back on claims that the Residential Mortage Backed Securities (RMBS) working group is being slow-walked and made ineffectual is that they have a funding stream earmarked for it that testifies to the seriousness of effort with respect to resources. In an op-ed two weeks [...]

Democrats Try to Reverse Stand Your Ground in Appropriations Bill

By: Tuesday May 8, 2012 1:37 pm

In the House appropriations bill for Commerce, Justice and Science that will get preliminary votes today, Progressive Caucus co-chairs Keith Ellison and Raul Grijalva will introduce a “Stop Shoot First Laws” amendment, a direct reaction to the death of Trayvon Martin, whose death and ensuing trial may turn on Florida’s “Stand Your Ground” law. The [...]

Frank, Miller Try to Open Up Accountability for Fed, OCC

By: Thursday April 19, 2012 7:35 am

Barney Frank and Brad Miller tried to shake up a House Financial Services Committee hearing yesterday. As per usual, Republicans wanted to go after the CFPB’s funding and subject it to the appropriations process. As it stands, CFPB derives its funding from a portion of the funding of the Federal Reserve, which comes from sources [...]

Government Funding Bill Expected By End of Week

By: Monday December 12, 2011 10:28 am

Congress has apparently decided that it can only deal with one major fight at a time. At the same time that the parties jockey over whether to extend the payroll tax cut and unemployment insurance, at the end of this week the current continuing resolution to fund the government expires. Currently only one-quarter of the [...]

CFTC Budget Slips Away; Staff Cuts Expected

By: Monday November 21, 2011 12:15 pm

The Commodity Futures Trading Commission, perhaps the biggest loser in the appropriations deal secured last week, may lose staff after their budget was cut by 1/3 from the President’s budget request. This comes at a time when the CFTC takes on expanded responsibilities in the wake of Dodd-Frank. It’s a remarkable situation that underscores the [...]

Appropriations Bill Funding the Government Zeroes Out High Speed Rail

By: Friday November 18, 2011 7:00 am

One thing that Democrats and Republicans were able to get together on yesterday was to pass a continuing resolution to fund the government for an additional four weeks beyond today’s deadline, until December 16. The continuing resolution was attached to a “minibus” of three appropriations bills, for various federal departments, including Commerce, Justice, Transportation, Housing [...]

Continuing Resolution to Attach to “Minibus” Appropriations, Pass This Week

By: Monday November 14, 2011 10:55 am

OK, mystery solved. Over the weekend I was stumped with how Congress would handle the expiring continuing resolution that funds the government. Friday was the deadline, and there was seemingly no activity to suggest that anything would be done to extend the CR. But finally, we have learned the plan: the CR will attach to [...]

Um, Continuing Resolution Runs Out November 18. Anyone?

By: Saturday November 12, 2011 8:49 am

In six days, the continuing resolution to fund the government runs out. To avoid a government shutdown, the House and Senate will have to agree on some stopgap measure to allow the government to continue to run. Yet all the talk in Washington is over a completely separate budget process, the Super Committee deliberations, which [...]

Policy Riders at Issue with Government Funding Bills

By: Wednesday November 2, 2011 8:15 am

I mentioned yesterday that we were headed for a looming government shutdown in a couple weeks, because Republicans appeared poised to, just like back in April, demand certain concessions as a condition for allowing a continuing resolution to fund the government. Back then it was about spending cuts, though several policy riders played a role [...]

Jobs Measures Doomed, Shutdown Looms: Your Congress in 2011

By: Tuesday November 1, 2011 12:14 pm

I guess the President is meeting with House Democrats at this hour to map out some kind of strategy on jobs and the economy. Regardless of the strategy, here’s what’s going to happen: there will be no jobs bills, and Republicans will bring the country to the verge of a government shutdown. Again. On the [...]

Allegedly “Meaningless” 2011 Budget Cuts Cost 370,000 Jobs

By: Friday October 28, 2011 6:16 am

Way back in April, Congress agreed, after nearly causing a government shutdown, on a budget deal that cut $39 billion over the next six months. There were a lot of articles written in the aftermath about how the outlays actually increased and how Obama fleeced Boehner and how the whole thing got accomplished with no [...]

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