GAO Report Shows Multiple Conflict of Interest Cases at Fed Regional Banks

By: Wednesday October 19, 2011 12:35 pm

Federal Reserve chair Ben Bernanke acknowledged yesterday that the central bank may need to do a better job dealing with asset bubbles. I think I just heard Dean Baker’s head explode. Specifically, Bernanke said that he would move to use interest rate policy and not just regulatory tools to head off bubbles. “In the decades [...]

Sanders, Cantwell Decry Weak New Commodity Speculation Rule

By: Wednesday October 19, 2011 8:15 am

After the Commodity Futures Trading Commission voted to impose position limits on commodity speculators, the emails started whizzing into my inbox. Since the vote fell strictly along party lines, you’d think the left-leaning emailers would be full of praise for the plan, while the right chagrined. But you would be wrong. There are basically two [...]

Democrats Coming Home to #OccupyWallStreet, Producing Synergy of Action and Dissent

By: Wednesday October 5, 2011 11:33 am

More Democratic politicians embraced the #OccupyWallStreet protests today, supporting the core grievances of a broken economy and corporate influence as broadly similar to their own platforms. This includes the co-chairs of the Progressive Caucus, Raul Grijalva and Keith Ellison, saying that “We share the anger and frustration of so many Americans who have seen the [...]

Giving Up the Argument: The Payroll Tax Cut Chase

By: Saturday August 27, 2011 9:30 am

Dave Weigel has a really nice piece about the Democrats’ cunning plan to trap Republicans into cutting payroll taxes. As Dave says, it wasn’t so long ago that lifting the payroll tax cap was a standard part of any Democrats’ stump speech. In fact, people like Jim Clyburn still mention it today, and Bernie Sanders [...]

Initial Fed Audit Shows Web of Conflict of Interest

By: Friday July 22, 2011 10:34 am

Matt Stoller, who worked on Capitol Hill from 2009-10, writes that the Dodd-Frank Act made no structural changes to the banking system, and that his main focus, the audit the Fed amendment, merely allowed “for the beginning of a real debate over our monetary system.” We don’t really have real debates on much of anything [...]

Whitehouse, Sanders: “Disconnect Between Administration and the Senate”

By: Friday July 8, 2011 9:35 am

Senators Bernie Sanders and Sheldon Whitehouse just held a conference call on the proposed Social Security cuts in the debt limit talks. And the takeaway was to inform the White House that they shouldn’t assume that Democrats will simply follow whatever deal they make, particularly if it includes cuts to the safety net. “There’s been [...]

Conrad Releases Senate Budget, With Even Split on Revenues and Spending

By: Wednesday July 6, 2011 6:50 am

Kent Conrad will present his long-term budget plan today, and you’ll be surprised to know that it shares no meaningful difference with the budget plan Bernie Sanders has been touting of late. Indeed, it includes a 50/50 ratio between tax increases and spending cuts. We’re in a topsy-turvy world when a plan that cuts the [...]

Senate Dems to Unveil Budget as Republicans Reject What They Initially Proposed

By: Thursday June 30, 2011 7:30 am

Senate Democrats will put forward their own budget next week, instead of leaving town for the 4th of July weekend. The biggest near-term consequence of this is that there will be no recess appointment of any Presidential nominee, meaning that the Consumer Financial Protection Bureau will indeed lose powers when it transfers over to the [...]

Obama Enters Debt Limit Talks, With a Focus on Revenue

By: Tuesday June 28, 2011 7:02 am

The President entered the debt talks yesterday, meeting with the leaders of both parties in the Senate. And we’re starting to get some numbers out of the negotiations. The “down payment” of deficit reduction is expected to be anywhere from $2-$2.4 trillion, of which between $500 billion and $1 trillion has been agreed to. So [...]

With Second Filibernie, Sen. Sanders Sets Up the Left Pole in the Deficit Debate

By: Monday June 27, 2011 1:35 pm

Sen. Bernie Sanders is about a half-hour into another “filibernie” stemwinder on the floor of the Senate today; the prepared text, which Bernie is likely to embellish, clocked in at over 10,000 words. Sanders has combined this speech, which concerns shared sacrifice, with an action item, a petition to the President that lays out the [...]

Sanders Accuses CFTC of Breaking the Law

By: Friday May 27, 2011 6:50 am

Yesterday we learned that Saudi Arabia warned US officials of oil price speculation back in 2007, telling them they had nowhere to sell additional crude even if they produced more. Since January, the Commodity Futures Trading Commission has had the authority to stop this rampant speculation, which has returned to the market, by using Dodd-Frank [...]

support firedoglake
Follow FDL News Desk