Elizabeth Warren Demands Mortgage Settlement Documents From Regulators

By: Thursday January 31, 2013 9:43 am

Elizabeth Warren is not wasting any time trying to get answers from Wall Street’s regulators. Warren asked for documents relating to the recent mortgage settlement. U.S. lawmakers on Thursday asked bank regulators to turn over documents related to the $8.5 billion settlement that ended a government-mandated review of crisis-era foreclosures, saying transparency was needed to [...]

US House Plans to Sue Administration Over Executive Privilege in Fast and Furious Case

By: Monday July 2, 2012 7:35 am

House Speaker John Boehner indicated on Sunday that he would take the Administration to court over documents requested in the Oversight Committee investigation into the Fast and Furious scandal. The House of Representatives voted on Thursday to hold U.S. Attorney General Eric Holder in contempt of Congress for refusing to hand over documents relating to [...]

Museum President Sat on “Risk Committee” at JPMorgan Chase

By: Friday May 25, 2012 1:35 pm

It turns out that JPMorgan Chase had a risk oversight committee on its board of directors. There were individual risk managers at the various offices as well, but this board was designed to provide oversight for the entire operation. Or, if you prefer, it was designed to pretend to show that JPMorgan Chase cared about [...]

White House Confident State Department Can Manage Enormous Private Security Contractor Force in Iraq

By: Friday October 21, 2011 3:13 pm

On a conference call with progressive media, White House deputy national security adviser for strategic communication Ben Rhodes stressed that the United States would now commence a “normal” relationship with the Iraqi government, an equal partnership between two sovereign nations. But it’s hard to square that with the reality that the United States will have [...]

More Evidence of Systematic Bank Fraud And Violation of Law

By: Wednesday October 5, 2011 7:00 am

I could hardly keep up with all the reports on housing that came out over the past 24 hours. So let me try to summarize a couple: • A recently unsealed lawsuit shows that banks cheated military veterans by illegally adding attorney’s fees to their refinancing loans. Illegal fee additions have a rich history, especially [...]

Durbin Joins Call for Congressional Hearings on News Corp. Scandal

By: Monday July 18, 2011 11:26 am

Another powerful Senator has called for an investigation into Rupert Murdoch’s News Corp. after continued allegations and arrests into the phone hacking scandal in Britain. Sen. Dick Durbin (Ill.), the second-ranking Senate Democrat, has called for congressional hearings and investigations of Rupert Murdoch’s media empire to determine whether it employed illegal practices in the United [...]

Obama Signing Statement to Budget Bill Ignores Restriction on Advisers

By: Saturday April 16, 2011 9:04 am

The President signed the 2011 appropriations bill yesterday, and he attached a signing statement to it. There were two bones of contention. The first was the measure banning funds to transfer prisoners from Guantanamo. The President had already signed bills with this restriction, and his signing statement here mirrored the ones for those, expressing opposition [...]

Towns Reverses, Throws Support to Maloney in Oversight Committee Ranking Membership Battle

By: Wednesday December 15, 2010 7:10 am

Last night, it appeared that Elijah Cummings would attempt to leapfrog seniority and obtain the ranking membership of the House Oversight Committee with the backing of outgoing ranking member Ed Towns. However, Towns reversed course last night, saying in a statement, “I support Carolyn Maloney to become Ranking Member of the Oversight and Government Reform [...]

Towns Stepping Down from Oversight, Setting Up Three-Way Battle for Ranking Membership

By: Tuesday December 14, 2010 3:27 pm

Ed Towns will give up his post as the Democratic ranking member of the House Oversight Committee, setting up a potential battle for that spot, opposite Darrell Issa, who has promised vigorous and probably endless oversight of the Obama Administration. There was plenty of belief inside the Democratic caucus that Towns was not cut out [...]

Federal Regulators Asleep at the Switch on Foreclosure Fraud

By: Monday November 8, 2010 9:16 am

The story of the inflation and subsequent popping of the housing bubble is correctly seen as a failure of regulation, particularly by the Federal Reserve, which at the time held oversight for consumer protection. They ignored the violations of mortgage origination standards that essentially led to handing out loans to anyone with a pulse. And [...]

Cantor’s Streamlined House Agenda

By: Friday November 5, 2010 10:58 am

I want to go back to Eric Cantor’s blueprint for the House, because outside of the obvious change in legislative focus, I think there are some areas for agreement. This is particularly the case in the area of the committee and floor schedule. The first thing Cantor wants to do is to develop “clear standards” [...]

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