China’s growing economic clout and its role as lender to the US means Obama has less leverage to press for changes to US-China trade.
Sen. Christopher Dodd introduced a bill in the Senate Banking Committee Tuesday aimed at tightening bank regulation. Critics of the current system say regulators are too cozy with bankers now.
High executive pay and bonuses are unseemly after taxpayer bailouts, many Democrats charge. But GOP lawmakers worry about federal 'pay czar' meddling in the workings of capitalism.
The Treasury Department is ordering pay cuts for top executives at the seven big companies that have yet to pay back government bailout cash. The US public has balked as such firms have handed out huge bonuses.
The move makes for good politics, but is it good business?