Does Anyone Want To Be The Secretary Of Defense?

By: Friday November 28, 2014 7:52 am

Senator Jack Reed has followed former Under Secretary of Defense for Policy Michèle Flournoy in taking himself out of consideration for being the next Secretary of Defense. Reed, who was the frontrunner, said he was not interested in the job shortly after the previous frontrunner, Flournoy, dropped out of the selection process to determine who [...]

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 [...]

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 [...]

Senate Republicans Block Student Loan Interest Rate Bill

By: Tuesday May 8, 2012 11:06 am

The Senate failed to advance a bill today that would have kept the interest rate on Stafford federal student loans from doubling to 6.8% by this June. Republicans and Democrats now profess to support averting the change, but they differ on how to pay for the extension. Republicans want to take the money from the [...]

Democrats Search for Solution to Avoid Doubling of Student Loan Interest Rates

By: Wednesday April 4, 2012 8:15 am

Leading Democrats and the White House have taken note of the threat of a doubling of the student loan interest rate by June 30 (from 3.4% to 6.8%), and are working on steps to prevent it. However, they have to contend with a stingy House GOP that isn’t interested in finding the $6 billion or [...]

Reid Pulls JOBS Act Bill After Amendments Fail

By: Tuesday March 20, 2012 3:48 pm

The Senate plan for the JOBS Act today, a financial deregulation bill that would weaken investor protections with no economic benefit, was for three cloture votes – an amendment to add investor protections to the bill, an amendment to attach a reauthorization of the Export-Import Bank to the bill, and, if those failed, a cloture [...]

Leading Dem Senators Want to Add Investor Protections to JOBS Act

By: Friday March 16, 2012 9:35 am

It appears a few Democrats have finally gotten around to reading the JOBS Act, the financial industry deregulation bill that would bring back penny-stock scams and remove investor protections. Multiple Democrats in the Senate have proposed changes to the legislation, which breezed through the House with ample Democratic support. “We can dial back this excessive [...]

Senate Democrats Criticize OCC Over Foreclosure Review Practices

By: Wednesday December 14, 2011 12:54 pm

A Senate Banking subcommittee on housing yesterday sharply questioned members of the Office of the Comptroller of the Currency over their foreclosure review process, and the lack of transparency thereto. I’ve been largely avoiding the OCC reviews because I think they’re a joke – the servicers get to choose their own independent consultants to carry [...]

Schneiderman Takes Over: Investigation Commenced on Wrongful Military Foreclosures

By: Wednesday November 30, 2011 7:09 am

Eric Schneiderman’s profile lately has been to go where federal regulators fear to tread, to actually do the jobs of the federal government when they fail to do so. In foreclosure fraud, he undertook the investigation that the feds would not. Now he is applying that to military foreclosures, although the authority here is a [...]

Democratic Senators Get Fed Up With John Walsh at OCC

By: Thursday June 23, 2011 10:16 am

It’s about time people recognize that John Walsh is a miserably bad regulator, and that the OCC is a useless agency. That they happen to be the main regulator for the nation’s banks is a fairly sad but expected corollary to this. But as bad as bank lobbyist John Dugan was running OCC in the [...]

Harkin, Reed Want to Take Medicare Off the Table in Debt Limit Negotiations

By: Friday June 3, 2011 8:30 am

In addition to promising not to cave on tax cuts for the rich, President Obama in his meeting with House Democrats also promised not to cave on Medicare, amid urging from the caucus. Kathy Hochul (D-NY), the newest member of Congress, stressed the importance of Medicare to her Congressional victory last week. And Nancy Pelosi [...]

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