David R. Sands

Frank wants $40 billion for homeowners

House Financial Services Committee Chairman Barney Frank Friday laid out a series of conditions he will demand before the Treasury Department can spend the second half of the $700 billion Wall Street bailout fund that Congress approved in October.

January 10, 2009

Four Senate terms enough for Bond

Longtime Missouri Republican Sen. Christopher S. Bond, a dominant force in his state's politics for more than three decades, announced Thursday he will not seek a fifth term, dealing his party another setback in a bid to cut into the Democratic majority in the chamber.

January 9, 2009

Citigroup to back rewriting mortgages

Giant lender Citigroup announced Thursday it would support an effort in Congress to rewrite bankruptcy laws to give struggling homeowners the ability to rewrite the terms of their mortgages to avoid foreclosure -- the first major crack in the banking industry's opposition to the idea.

January 9, 2009

Sen. Bond won’t seek fifth term

Longtime Missouri Republican Sen. Christopher S. Bond, a dominant force in his state's politics for more than three decades, announced Thursday he will not seek a fifth term, dealing his party another setback in a bid to cut into the Democratic majority in the chamber.

January 8, 2009

Obama vows cutback in Social Security

President-elect Barack Obama vowed to tackle Social Security and Medicare spending as this year's deficit was projected to reach $1.2 trillion -- a figure to go higher thanks to an economic recovery package before Congress.

January 8, 2009

Chess masters defy drug testing

By attacking one of the kings of the game, the world's chess bureaucrats have backed themselves into a corner.

January 7, 2009

House rule changes squander good will

The spirit of bipartisan cooperation didn't survive the first day of the 111th Congress as House Democrats pushed through a package of rule changes Tuesday that the furious Republican minority said trampled their traditional rights to affect legislation.

January 7, 2009

Madoff scheme may hurt investor protection fund

The industry-financed fund that protects investors from securities fraud will be stretched badly by the $50 billion scandal involving Wall Street investing legend Bernard Madoff and may need a federal bailout, the head of the Securities Investor Protection Corp. said Monday.

January 6, 2009

Congress digs into Madoff scandal today

Congress gets its first crack today at the $50 billion financial fraud involving Wall Street investing legend Bernard Madoff, with Democrats vowing to use the scandal to spur an overhaul of the government's financial regulatory system.

January 5, 2009

Labor’s ‘priority’ on back burner

Labor unions invested heavily in Barack Obama's presidential victory, but the return on their investment may be awhile in coming.

December 29, 2008

Bailout funds face major hurdles

Under fire from the left and the right, Treasury Secretary Henry M. Paulson Jr. has a tough fight and few allies as he seeks congressional approval to top off the tank with the second $350 billion from the federal bailout fund.

December 21, 2008

Liberals lobbying for stimulus plan

A broad coalition of liberal, environmental and labor groups Thursday announced plans to spend up to $5 million to lobby Congress on a massive new economic stimulus plan that would be ready for President-elect Barack Obama to sign the day he takes office Jan. 20.

December 19, 2008

Coalition spends big for stimulus blitz

A broad coalition of liberal, environmental and labor groups Thursday announced plans to spend up to $5 million to lobby Congress on a massive new economic stimulus plan that would be ready for President-elect Barack Obama to sign the day he takes office Jan. 20.

December 18, 2008

Madoff scheme hits Jewish charities hard

UPDATED: The collapse of Wall Street legend Bernard L. Madoff's investment empire has generated scandal, bankruptcy, financial panic - and some socially awkward situations.

December 17, 2008

Illinois rivals Louisiana for most corrupt state

Revelations this week that Illinois Gov. Rod R. Blagojevich and his chief of staff have been charged with trying to sell the Senate seat of President-elect Barack Obama have sparked a perverse debate over which state is the nation's most corrupt, with partisans rushing to defend the (dis)honor of their native lands.

December 12, 2008

Lawmakers spar over bailout breakdown

Senate Banking Committee Chairman Christopher Dodd Friday urged the White House to act immediately to free up billions of dollars to bail out Detroit's Big Three, a day after the Senate killed a rescue package for the beleaguered car companies.

December 12, 2008

‘Most corrupt state’ title now in question

Take that, Louisiana.

December 11, 2008

Bush, Democrats OK $15 billion for Big 3

The White House and senior congressional Democrats reached an agreement on the outlines of a $15 billion taxpayer bailout plan for troubled Detroit automakers General Motors Corp. and Chrysler LLC.

December 10, 2008

Rush opposes Durbin’s call

Rep. Bobby Rush, a leading black lawmaker from Chicago, said Tuesday he opposed a special election to fill the Illinois Senate seat of President-elect Barack Obama, saying the process would take too long and would leave minority candidates at a disadvantage in the race to replace the Senate's only African-American.

December 9, 2008

UPDATED: Hopes dim for quick auto rescue

UPDATED: The Senate's top Republican poured cold water on plans for a $15 billion taxpayer bailout of Detroit's Big Three on Tuesday, as his Democratic counterpart said hopes for quick passage of the emergency funding bill appeared to be slipping away.