Wells Fargo & Co. tops the list of companies receiving the largest tax breaks since 2008, according to a joint study from Citizens for Tax Justice and the Institute on Taxation and Economic Policy.
The Federal Reserve’s policy committee, the Federal Open Market Committee (FOMC), met Tuesday and voted on what course of action they would take with respect to U.S. monetary policy in the coming months. Their statement reflects the commonly-held perception that the recovery from the Great Recession has stagnated:
As Democrats such as Colorado Sen. Mark Udall blame speculation in the financial markets for skyrocketing gas prices, Republicans – including U.S. Rep. Scott Tipton of Colorado – continue to target Obama administration policies. This time Tipton is fingering the Federal Reserve.
A video of Independent Vermont Senator Bernie Sanders is making the rounds this week. In the clearest language to come out of Washington on the topic, Sanders powerfully states what he sees as at stake in the battle over extending…
In a new paper released Wednesday, entitled “How the Great Recession Was Brought to an End,” prominent economists Alan Blinder and Mark Zandi say the stimulus, stress tests, emergency Federal Reserve maneuvers and Troubled Asset Relief Program saved the…
WASHINGTON– On Tuesday, the Senate voted in a landslide to approve the Audit the Fed amendment to Sen. Chris Dodd’s (D-Conn.) financial regulatory reform proposal. Sen. Bernie Sanders (I-Vt.), the author of the amendment, has directed the Government Accountability Office to publish a report on the Federal Reserve’s books by Dec. 1, 2010, reviewing in a way that “does not interfere with monetary policy” but does let the American people know the names of the recipients of the more than $2 trillion in taxpayer assistance doled out by the nation’s central banking system.
Last night, the Senate agreed to a proposal by Democratic Colorado Sen. Michael Bennet to reduce funds available for the Troubled Asset Relief Program or TARP, trimming it back substantially from $700 billion to $550 billion. Bennet’s amendment to…
WASHINGTON– Monday evening, Republicans in the U.S. Senate voted against Sen. Chris Dodd’s American Financial Stability Act, which seeks to reform regulation of the financial sector. It was only one round. There are many to come. Democrats only need one crossover to move the bill forward and the GOP line on the bill has already evolved, as Republican spin artist Frank Luntz’s “bank bailout” false talking point has failed to winover Americans, who overwhelmingly back reform. Bonus-loving Goldman Sachs has run out of sympathy on struggling Main Street.
Democratic U.S. Rep. Betsy Markey has cosponsored a bill that would establish regular auditing of the Federal Reserve– the nation’s bank, which presently, according to the bill’s sponsor, semi-Libertarian Texas Republican Rep. Ron Paul, is astonishingly free of oversight…
President Barack Obama rolled out his plan to overhaul financial regulation last week. While much of the Obama plan relies on the same regulators and structures that led to the current meltdown, there is one key exception.
The establishment of an independent Consumer Financial Protection Agency would give ordinary citizens a seat at the financial policy table for the first time and prevent the abuses in credit card and mortgage lending that have wreaked havoc on households all over the country.
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