'Your papers, please' must never be heard in America
Independent voices from the TWT Communities
The Senate on Monday unanimously confirmed President Obama's appointment of Mary Jo White to lead the Securities and Exchange Commission, even as Republicans continue to reject Richard Cordray, who was nominated at the same time to head another financial watchdog agency.
Senate Republicans used the confirmation hearing for the head of President Obama's new Consumer Financial Protection Board to air their continued unhappiness with the agency's funding and what they said was its lack of accountability.
Federal Reserve Chairman Ben S. Bernanke Tuesday morning warned Congress that $85 billion of across-the-board spending cuts due to start on Friday will dampen economic growth this year.
A conservative U.S. senator from Idaho who has said he doesn't drink because of his Mormon faith has been charged with drunken driving.
The Senate on Tuesday began considering proposed legislation to extend for two years a Great Recession program that provides open-ended government insurance backing for certain non-interest-bearing bank accounts.
The Federal Reserve took aggressive action Thursday to try to reinvigorate the economy and generate more jobs, announcing a major program of purchasing $40 billion a month in mortgage bonds that it hopes will drive down interest rates to record lows and spur faster growth.
Congress is pressing ahead with a new package of crippling sanctions on Iran, expanding on financial penalties and targeting Tehran's energy and shipping sectors in the hope that economic pressure undercuts its suspected nuclear weapons program.
Two senior Republican senators have questions about the Obama administration's approval of more than a half-billion dollars in taxpayer funds to help a California automaker build hybrid subcompact cars in Finland that will cost buyers more than $100,000 each.
Consumer prices were unchanged in June, held down by cheaper gas. Outside the volatile food and energy categories, inflation was mild.
Federal Reserve Chairman Ben Bernanke sketched a bleak picture of the U.S. economy Tuesday — and warned it will darken further if Congress doesn't reach agreement soon to avert a budget crisis.
A key House lawmaker said he plans to press both American bankers and U.S. regulators as Congress steps up its probe into a interest-rate-setting scandal that has erupted on both sides of the Atlantic.
The former Countrywide Financial Corp., whose subprime loans helped start the nation's foreclosure crisis, made hundreds of discount loans to buy influence with members of Congress, congressional staff, top government officials and executives of troubled mortgage giant Fannie Mae, according to a House report.
The CEO of JPMorgan Chase & Co. had a much tougher reception Tuesday when he returned to Capitol Hill for a second round of questions about the bank's $2 billion trading loss.
A former George W. Bush administration official joined Democrats Wednesday in calling for the reauthorization of the U.S. Export-Import Bank as it faces a May 31 deadline to stay in business.
A Senate committee has approved President Obama's two nominations to fill vacancies on the Federal Reserve's board. But prospects for a quick confirmation in the full Senate are uncertain.
