Topic: U.S. Senate Committee on Banking, Housing, and Urban Affairs
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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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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Gallery: Retiring senators
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Ben Bernanke: Bring down the federal debt, don't just 'stabilize' it
Reducing the debt-to-GDP ratio is the most important long-term fiscal policy for the US, said Fed Chairman Ben Bernanke during his semiannual report to Congress.
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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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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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Jamie Dimon to testify on huge JPMorgan Chase loss
Jamie Dimon will testify before the Senate Banking Committee Wednesday about JPMorgan Chase's $2 billion trading loss. The Jamie Dimon testimony will be a chance for senators to score big political points.
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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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Facebook lawsuits: Did all shareholders get same data in IPO?
Facebook lawsuits charge that banks in charge of IPO didn't share company information with all shareholders. In addition to Facebook lawsuits, two congressional committees are also investigating the IPO.
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JPMorgan Chase trading fiasco: What to do about big banks?
JPMorgan's loss of $2 billion shows that the forces that unleashed the recession remain partially untamed – and that Congress is still struggling to get a handle on the solution.
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Ina Drew retiring after JPMorgan losses. Will she get $14.7 million?
Ina Drew, at the center of JPMorgan's stunning loss, was among its highest-paid executives. Proxy statement says Ina Drew would be entitled to nearly $14.7 million if she met 'full-career eligibility.'
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JP Morgan losses send Wall Street back to Capitol Hill (+video)
Congressional critics plan hearings to probe how America's largest bank posted $2 billion in trading losses – and whether new financial regulations, still being implemented, go far enough to rein in Wall Street abuses
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JOBS Act: Why are Democrats suddenly raising red flags?
No one wants to vote against jobs, but a wide swath of critics – ranging from the SEC, the AFL-CIO, and pension funds – worry that features in the proposed JOBS Act could hurt investors.
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Opinion: Payday lenders prey on the poor, costing Americans billions. Will Washington act?
The minimally regulated, fast growing payday lending industry strips Americans of billions annually. It's time for the new Consumer Financial Protection Bureau to implement regulations to curb predatory lending so that a $400 loan doesn't put a borrower thousands of dollars in debt.
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New finance watchdog: how much bite?
The Consumer Finance Protection Bureau, launched in July, gives Americans a new ally in dealing with credit card and other financial companies. But just how far will the agency go in handling individual cases?
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Mortgage lenders must pay homeowners for improper foreclosures
Mortgage lenders ordered to reimburse customers they foreclosed on improperly. Regulators tell 16 mortgage lenders to hire auditors to find out who could have avoided foreclosure in 2009 and 2010.
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Stocks tumble. Dow down nearly 170 points.
US stocks tumbled at midday after reports about a trade deficit in China and weak jobless claims in the US.
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Why the film industry chose former Sen. Chris Dodd to run the MPAA
Former Sen. Christopher Dodd is the new chairman and CEO of the film industry's MPAA, taking a position filled for four decades by the flamboyant Jack Valenti.
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Federal Reserve chief warns GOP: Don't hold debt-ceiling vote hostage
Federal Reserve Chairman Ben Bernanke approves of plans to bring federal deficits under control, but he tells senators not to link such a move to a coming vote on raising the debt ceiling.
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Now, US can get tough with China on currency
Changing economic conditions in China and the US have made it possible for the US government to take action on China's manipulation of the yuan.
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Think getting tough with China will solve our jobs problem? Think again.
The American government hints at trade sanctions against China, but those won't address the core problems: China needs to keep its people employed, and America needs its consumers to start consuming.
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Obama touts US exports plan again, as voters stew over slow economy
President Obama on Thursday again stressed his commitment to double US exports in five years and, thus, create 2 million jobs. Is a tougher stance toward China part of his plan?
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Reader mailbag: Should you loan money to parents?
A reader asks if it's unethical to charge interest on a loan to parents.
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