Topic: Financial Regulatory Policy
Top galleries, list articles, quizzes
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Senate freshmen: What the 14 new members bring to Capitol Hill
A freshman Senate class was sworn in Jan. 3, bringing diverse skills and experience – not to mention agendas – to the legislative body. Whether the 14 newest senators help break partisan gridlock, or refuse to work across the aisle, will be the test for the 113th Congress.Twelve were elected on Nov. 6, including three Republicans, eight Democrats, and an independent. In addition, a Republican and a Democrat were appointed to vacant seats after the election. Here is a look at the 14 and what they bring to the Senate:
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Briefing
Obama vs. Romney 101: 3 ways they differ on regulation
Wall Street is a big target – blamed for the financial crisis that led to the Great Recession. Mitt Romney says efforts to rein in financiers via more regulation are an attack on “economic freedom.” President Obama says new regulations would make it “more profitable to play by the rules than to game the system.” Here are three specifics on which the two differ.
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Ron Paul vs. the Federal Reserve: four epic moments
Ron Paul hasn't been the Federal Reserve's only critic, but he ranks among the most consistent and persistent in his charge that the Fed has debased the dollar and destroyed the wealth of Americans.
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Credit cards: Top 4 tips for retirees
Credit cards make sense in retirement, as long as you don't slack off on managing your credit. Seniors who maintain a healthy credit history and high FICO scores will benefit – not only from low interest rates and better terms on loans, but also from leveraging lucrative credit card sign-up bonuses to earn thousands in free travel, cash back, or other merchandise. The key is to use credit cards responsibly. Here are four tips on how to use your credit cards in retirement:
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Facebook IPO: Six key dates in its debacle
Facebook's first week as a publicly traded company will go down as a terribly botched corporate launch, perhaps one of the worst in recent history for such a highly visible entity. Eight days ago, it was the tech world's most highly anticipated initial public offering in eight years. Now, the social media company faces mounting legal woes and serves as an embarrassing example of how not to run an IPO. Despite rising insider pessimism about its growth prospects, Facebook kept boosting its asking price and the number of shares it would sell. The result: billions of dollars in losses; investigations by two congressional committees, the Securities and Exchange Commission (SEC), an industry watchdog, and the state of Massachusetts; at least 13 class-action lawsuits; and thousands of resentful shareholders who days later still were unsure how many Facebook shares they had or at what price. Here are six key dates in Facebook's unfolding IPO disaster.
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In visit with Pope, Angela Merkel urges strong financial regulation
Two days after Pope Francis called for world finance reform, German Chancellor Angela Merkel met with him to discuss financial crises worldwide. She emphasized the need for tightening financial regulation.
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No more big banker bonuses? Europe set to crack down.
Europe's financial ministers are expected to approve new rules today that would cap bankers' bonuses at two years' salary – a move unthinkable in the years before the Lehman collapse.
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New federal rule to prevent mortgage crisis: how it affects you
The Consumer Financial Protection Bureau announced it's new 'ability to repay' rule that sets guidelines for new mortgages, including limits on debt payments as a portion of income.
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Robert Reich Want to avoid bailouts? Break up the big banks.
It's time to limit the size of banks and break up the biggest ones on Wall Street, Reich writes.
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Senate freshmen: What the 14 new members bring to Capitol Hill
A freshman Senate class was sworn in Jan. 3, bringing diverse skills and experience – not to mention agendas – to the legislative body. Whether the 14 newest senators help break partisan gridlock, or refuse to work across the aisle, will be the test for the 113th Congress.Twelve were elected on Nov. 6, including three Republicans, eight Democrats, and an independent. In addition, a Republican and a Democrat were appointed to vacant seats after the election. Here is a look at the 14 and what they bring to the Senate:
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Barney Frank asks for interim Senate appointment
Frank, who served 16 terms and headed the House Financial Services Committee, says the next few months will be important for the nation's finances.
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Robert Reich Will Timothy Geithner lead us over or around the fiscal cliff?
Timothy Geithner sees the world through the eyes of Wall Street rather than Main Street, Reich writes, which complicates fiscal cliff negotiations.
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Euro officials cut a deal on Greek debt
Eurozone finance ministers agreed to give Greece the next installment of its bailout loan, totaling about $57.8 billion. Greece will soon enter its sixth year of recession.
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Eurozone, IMF clash over Greek debt as deadline looms
IMF chief Christine Lagarde and European financial ministers debated today over how to prevent Greece from collapsing, even as Athens faces mandatory debt payment on Friday.
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Progress Watch Poland takes top honors for 'most improved' in cutting red tape
It's getting easier to do business in many countries, according to a World Bank report, with Eastern Europe and Central Asia making significant strides this year.
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Robert Reich How Obama can defeat Romney: Break up the big banks.
President Barack Obama should counter Mitt Romney’s extraordinary solicitude toward Wall Street with a proposal to cap the size of the nation’s biggest banks, Reich writes.
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Discover: The card that pays you back after you overpay
Discover Bank agrees to reimburse $200 million to consumers it pressured to buy credit-monitoring and other costly credit-card add-ons. Discover will also pay a $14 million fine.
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European debt crisis: a dangerous week ahead
European debt crisis enters a dangerous phase with a German court ruling, Dutch election, and EU finance ministers meeting this week. A reversal of support for the EU's beleaguered nations could intensify the European debt crisis.
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Briefing
Obama vs. Romney 101: 3 ways they differ on regulation
Wall Street is a big target – blamed for the financial crisis that led to the Great Recession. Mitt Romney says efforts to rein in financiers via more regulation are an attack on “economic freedom.” President Obama says new regulations would make it “more profitable to play by the rules than to game the system.” Here are three specifics on which the two differ.
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Decoder Wire Did Joe Biden 'chains' remark go too far? (+video)
Team Obama says that Biden was referring to the harm to consumers if Republicans 'unshackle' Wall Street. But critics dub the remark an appeal to race.
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Robert Reich Big bank engineer rejects big banks. Will Obama and Romney follow?
Sandy Weill, who was instrumental in Wall Street banks becoming "too big to fail," has come out in favor of breaking up the big banks. Will one of the presidential candidates take up Weill's proposal?
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Ron Paul's last hurrah: a big, bipartisan vote to 'Audit the Fed'
Today's vote marks a high point for Paul, who is retires at the end of the year. His signature bill requires a full audit of the Federal Reserve – a move that critics, including Fed chair Ben Bernanke, dub 'nightmarish.'
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Ron Paul vs. the Federal Reserve: four epic moments
Ron Paul hasn't been the Federal Reserve's only critic, but he ranks among the most consistent and persistent in his charge that the Fed has debased the dollar and destroyed the wealth of Americans.
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Robert Reich Scandal of scandals: Barclays corruption probe digs up new dirt
When it comes to Wall Street, many of us suffer outrage fatigue and cynicism that nothing will ever be done to stop these abuses. The question is whether the unfolding Barclays scandal will provide enough energy to finally force a change.
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Robert Reich Dimon in the rough: Keeping regulators off of Wall Street
The main regulator of derivatives (bets on bets), wants to extend Dodd-Frank regulations to the foreign branches and subsidiaries of Wall Street banks. But JPMorgan CEO Jamie Dimon would greatly prefer this not happen.
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Dimon in the hot seat before Congress
The JPMorgan Chase CEO was in front of Congress for a second time; he is under fire for a $2 billion trading loss.
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JPMorgan Chase CEO: Shareholders had risk info
JPMorgan Chase CEO Jamie Dimon insisted his bank did its best to inform investors about its risk strategy preceding its $2 billion-plus trading loss. JPMorgan Chase used risk assessment models that provided the best information at the time, according to Dimon.
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Jamie Dimon fields Congress questions on $2B trading loss
Jamie Dimon, the embattled JPMorgan Chase CEO, returns to Congress Tuesday to face more questions about the $2 billion trading loss incurred by the bank. Jamie Dimon is testifying before the House Financial Services Committee.
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What Jamie Dimon told Congress: four key points
Before the Senate Banking Committee, Jamie Dimon, JP Morgan's CEO, apologized again for the firm's $2 billion loss last month. Here are some nuggets from his two hours of testimony.
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The Monitor's View: Lessons in risk for JPMorgan Chase chief
JPMorgan Chase bank chief Jamie Dimon explained his bank's $2 billion trading loss to Congress, revealing a lesson in not being complacent about risk management – a difficult task in a complex world of diffuse risks.
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