Senators Write Letter To Harry Reid Opposing Fast Track Authority For TPP and TTIP

By: Thursday January 16, 2014 9:55 am

According to a letter obtained by Firedoglake, 12 United States Senators have written a letter to Senate Majority Leader Harry Reid to convey their opposition to the “prospect of renewing Trade Promotion Authority” or fast track authority. Specifically mentioned in the context of that opposition is the Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment [...]

Renewed Push To Curb Money Laundering Could Threaten Wall Street

By: Thursday November 7, 2013 8:52 am

New legislation being proposed in Congress meant to crackdown on illegal money laundering could pose a problem for Too Big To Jail banks on Wall Street that frequently make use of offshore business entities to avoid taxes and regulations. Bills proposed by representatives Maxine Waters and Carolyn Maloney would close many of the loopholes corporations [...]

Syria: Chemical Weapons Allegedly Used, U.S. Senator Calls For No Fly Zone

By: Wednesday March 20, 2013 7:00 am

An Israeli official has claimed that chemical weapons have been used in Syria, crossing the stated “red line” of the Obama Administration regarding U.S involvement in the Syrian Civil War. A senior Israeli official said Wednesday that it is “apparently clear” that chemical weapons were recently used in Syria, and that the alleged attack will [...]

Merkley, Levin Call Out Obstructionist Regulators Holding Up Volcker Rule

By: Thursday October 25, 2012 10:43 am

Almost four months after the deadline passed on finalizing the Volcker rule, the firewall on most types of proprietary trading set up between investment and commercial banks, the regulators tasked with writing the rule are no closer to a resolution. The Treasury Department last promised that the rule would get written by the end of [...]

Defense-Minded Senators Broach Idea of “Balanced” Solution to Avoid Sequester

By: Tuesday September 25, 2012 6:16 am

A curious coalition has come together to petition the Senate leadership of both parties to work on a bipartisan deal to avoid the sequester, the automatic cuts to defense and discretionary spending. Six senators, three in each party, wrote the letter to Harry Reid and Mitch McConnell. It’s mostly generic, but the identity of those [...]

Levin Goes After JPMorgan Chase with Subcommittee Investigation

By: Friday September 7, 2012 7:06 am

Carl Levin is at it again. His Senate Subcommittee on Permanent Investigations, perhaps the best investigatory panel in Congress, particularly on financial matters, has honed in on JPMorgan Chase and the Fail Whale trades. JPMorgan Chase & Co.’s wrong-way bets on derivatives are the focus of an escalating investigation by a U.S. Senate panel led [...]

Yesterday Was “Relieve Goldman Sachs of Their Legal Exposure” Day

By: Friday August 10, 2012 6:20 am

I mentioned yesterday that Goldman Sachs got a rare “reverse Wells notice” from the SEC, when they were told that a mortgage-backed securities deal which they earlier heard they would face prosecution for would not net them any civil enforcement. But that was just the beginning. Later in the day, they learned they would not [...]

Romney’s 2010 Tax Return Lacks Disclosure on Swiss Bank Account

By: Wednesday July 18, 2012 11:50 am

Just to follow up on this tax return issue that is playing havoc with Mitt Romney’s Presidential campaign, it turns out that the returns he claimed to have fully disclosed were not fully disclosed: Mitt Romney has not released his full tax records from 2010, including key documentation connected to his Swiss bank account [...] [...]

Snapshots of an Era of Bank Greed and No Accountability

By: Tuesday July 17, 2012 6:55 am

I thought that, given all the pervasive bank crimes over the last several years, we wouldn’t have a time when the roof appeared to cave in on the financial industry. But I’m getting that feeling today. All of the criminality and venality and greed seems to be coming to a head. Take JPMorgan Chase, not [...]

In Response to Massive, Multi-Trillion-Dollar Fraud, Geithner Sent a Memo

By: Friday July 13, 2012 6:10 am

The flames of the Libor scandal have been creeping up under the feet of Treasury Secretary Timothy Geithner. Evidence showed that the New York Fed found out about the rate-rigging from Barclays and other banks in 2007, when Geithner was still the bank President. This appeared to display regulatory impotence in the face of massive [...]

Defense Establishment Starts Bargaining on Trigger Cuts

By: Thursday June 14, 2012 6:21 am

One of the more confusing positions for Democrats in the end-of-the-year “fiscal slope” negotiations concerns where they stand on the defense trigger. Obviously, with Republicans desperate to close these cuts, at least for the first year, Democrats have an opportunity to leverage that into a better deal. However, Defense Secretary Leon Panetta has undermined that [...]

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