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Washington, D.C. (July 21) – President Obama signed H.R. 4173 Restoring American Financial Stability Act into law this morning ending a decade of Republican recklessness regarding the nation’s economic stability. The legislation creates a Consumer Financial Protection Bureau with the authority over a large portion of the nation’s financial industry. The Bureau will have broad powers [...]
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With a country in economic turmoil, and millions of unemployed and unable to find jobs, Wall Street is making its come back “recovery”. Big banks and large brokerage houses on Wall Street, the entities responsible for the financial crisis that began during the last administration, and which required bailing out by the citizens of the United States in the autumn of 2008, are quietly smiling.
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As America continues to contemplate its trade mess, the question naturally arises how other developed nations manage to trade with the world without deficits and without turning high-wage industries into low-wage industries to compete. Although some other developed nations, like Britain and Spain, have trade situations almost as bad as ours in recent years, some have been quite the opposite.
America’s financial mess and our festering trade crisis were both caused by bad policies that mainstream economics told us were OK. This has made the public cynical about economists, but has produced few specific suggestions on how to actually fix the discipline. So—what should we do to restore its ability to give sound advice? For [...]
Senate Republicans successfully blocked the measure to place Wall Street Financial Reform to the floor for debate for the second time.
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The GOP not having a leg to stand-on during the upcoming Senate races zeroed in on the Democratic Candidate Alexi Giannoulias association to one of the seven bank failures that occurred Friday in Chicago.
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Senate Banking Chairman Chris Dodd (D-CT) along with, Senator Mark Warner (D-VA) held a news conference today to introduce the goals of the Finance Reform bill.
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On April 8, 2010 the World Bank’s Board of Executive Directors approved us US$3.75 billion loan to South Africa’s power utility, Eskom to achieve a reliable electricity supply.
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Home loan modifications and HAFA as a backup option may help stressed out homeowners in a state facing crippling unemployment.
During the White House briefing today, Press Secretary Robert Gibbs had mentioned that “Financial Reform Bill” may be next up for the U.S. Senate to work on.
