Following yesterday’s announcement of sweeping financial reform from Senate Banking Committee Chairman Chris Dodd, here’s a good fact sheet summarizing key provisions of the full bill. Worthwhile read for anyone who’s tired of trying to decode healthcare bills. This financial bill isn’t as grey as healthcare bills, but passing it will be an equally tough
Ben Bernanke was confirmed by a 16-7 Senate Banking Committee vote to lead the Fed for a second four year term. Next steps will be in January. Some details from Reuters below as well as additional comments: The Senate is not expected to take up Bernanke’s nomination for a second four-year term at the helm
The Senate Banking Committee announced that Bernanke’s confirmation vote will take place on December 17. Some believe Bernanke may set Paul Volcker’s 1984 record for ‘no’ votes. Click the Bernanke tag below for more recent coverage on this topic.
As Bernanke’s confirmation hearing with the Senate Banking Committee continues, one little tidbit from the Q&A that stood out is that he pointed out that banks aren’t lending more because they’re awaiting the possibility of new regulations that would raise capital controls.
Fed chairman Ben Bernanke will be up for Congressional re-confirmation on December 3. Below is what Chris Dodd, chairman of the Senate Banking Committee had to say about it in August, and also what other Senators are saying on both sides of the aisle. The problem with politicians is that they’re subject to election cycles
Spencer D writes, “One of the little known effects of the economic slowdown is a dramatic drop off in the portable john business as the home building industry was one of their biggest customers. You might say their business is in the toilet! I don’t know whether or not they have applied for a bailout
In testimony before the Senate Banking Committee today, Fed chairman Ben Bernanke said that the ‘severe’ recession will continue into 2010 unless regulators can help. Below is the full transcript of his testimony: Chairman Ben S. Bernanke Semiannual Monetary Policy Report to the Congress Before the Committee on Banking, Housing and Urban Affairs, U.S. Senate,
Fed chairman Ben Bernanke testified to the Senate Banking Committee today on the outlook for growth and inflation. The growth picture looks bleak, dragged down by housing, and the inflation looks higher because of rising food and energy prices. The tug of war continues. He also discussed some changes to mortgage approvals including the elimination
The full text of Fed chairman’s testimony before the Congressional Joint Economic Committee today is below. The most important part everyone was waiting for was an explanation of why the Fed chose to bail out Bear Stearns and not individual homeowners. The answer is as follows: “adverse effects would not have been confined to the
Fixed rates are even versus last week and ARM rates open the week down .125% from last Monday, but the volatility continues with rate swings of up to .375% on any given day. This is proof that credit markets are still not functioning properly, and that’s the topic on Capitol Hill Thursday when Fed Chairman
Fixed and ARM rates open this week down about .125% this week, but the rest of the week isn’t likely to trend downward. Fed Chairman Ben Bernanke gives his semiannual testimony on the economy before the House Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday – and he’ll have fresh inflation