Judge Blocks Provisions of the STOCK Act

By: Friday September 14, 2012 8:55 am

A federal judge blocked a provision of the STOCK Act, the law passed earlier this year cracking down on insider trading. While the law originally pertained solely to members of Congress and their staffs, House Republicans extended that to members of the executive branch. Judge Alexander Williams gave a preliminary injunction to block enforcement of [...]

Paulson Delivered Inside Information on GSEs to Cronies

By: Tuesday November 29, 2011 7:35 am

Bloomberg News, quickly becoming the leading muckraker of the financial markets, has another blockbuster story today, on the heels of its release of information about Federal Reserve bailouts. Here they have former Treasury Secretary Henry Paulson essentially aiding and abetting an insider trading scheme while in office, as far as I can tell: Treasury Secretary [...]

FinReg Cloture Vote Passes, Will Become Law

By: Thursday July 15, 2010 9:05 am

The Senate passed their cloture vote, as expected, on the Dodd-Frank financial regulatory reform bill. The vote was 60-38, with Scott Brown, Olympia Snowe and Susan Collins supporting from the Republican side, and Russ Feingold opposing. Senatus says that the final vote will be taken up this afternoon, but I haven’t confirmed that. (UPDATE: It’s [...]

Safe Banking Amendment Fails in Snap Vote, 33-61

By: Friday May 7, 2010 5:00 am

It was Thursday afternoon and Ted Kaufman was upbeat. “We’re rolling,” he said before a conference call began. “We have the big mo!” He didn’t realize that, within a matter of hours, his Safe Banking Act, which would have capped the size and leverage of the largest financial firms, would get a rushed vote and [...]

Cuomo’s Charges Against BofA: How Big Can This Get

By: Friday February 5, 2010 1:35 pm

Yesterday, New York Attorney General Andrew Cuomo filed a lawsuit against Bank of America, its former Chairman Ken Lewis and CFO Joseph L. Price on civil fraud charges, alleging that they hid information from shareholders about large losses at the investment firm Merrill Lynch, which BofA picked up in a merger, and that they lied [...]

AIG Hearings – A Preview

By: Wednesday January 27, 2010 4:00 am

This morning at 10am ET, the House Oversight Committee will hold three separate panels on the AIG bailout. The first features Treasury Secretary Timothy Geithner, who chaired the New York Federal Reserve Board at the time, which was instrumental in managing the bailout. The second panel will feature former Treasury Secretary Hank Paulson, who was [...]

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