Bailout and Financial Crisis News

Paul Krugman writes: Bizarro Health Reform Arguments: As health reform moves to its final, make or break vote… Republicans are still denouncing it as a vast, evil government takeover. But they have a problem: Obamacare is very much like the Massachusetts health reform, which was not only implemented by a Republican governor, but by a [...]

Ben Armbruster writes: Think Progress: Sen. Tom Udall Calls Reid’s Promise To ‘Take A Look At The Filibuster’ A ‘Warning Shot’ To Republicans: Motivated by unprecedented GOP obstruction this year in the U.S. Senate, Sen. Tom Udall (D-NM) recently announced a proposal to revamp the Senate’s filibuster rules at the start of the next Congress. Citing [...]

Good Evening: U.S. stocks continued their recent advance today, and the benchmark S&P 500 has now posted positive closes in eight of the previous nine trading sessions. Though the rally is most likely attributable to price momentum and rising risk appetites, more than a few will credit today’s levitation in share prices to [...]

Senate candidate and Connecticut Attorney General Richard Blumenthal explained the new lawsuit he’s filing against the ratings agencies on Bloomberg this afternoon. What’s his rationale? Basically that the Moody's (MCO) and S&P were operating at the behest of their Wall Street overlords (who were looking for good ratings) rather than offering objective judgments. Join the conversation about this [...]

The Majority Leader: Senator Harry Reid Pledges Filibuster Reform: “The filibuster has been abused. I believe that the Senate should be different than the House and will continue to be different than the House,” Reid said. “But we’re going to take a look at the filibuster. Next Congress, we’re going to take a look at it. [...]

Say a prayer for the citizens of Illinois this evening. Chicago Tribune: Gov. Pat Quinn today called for a 33 percent increase in the state income tax rate to raise money for education and ease deep cuts he’s proposed in his new budget plan. In his short budget speech to the House and Senate, Quinn argued that an [...]

By Jacob Goldstein Some day, the Senate will finally unveil its big finance-reform bill. Until then, we’ll have to survive on the endless stream of leaks about what’s likely to be in it. Like, for example, the $50 billion trust fund that may be created to wind down big, failing financial institutions. The proposed pool, described [...]

Senate candidate and investor Peter Schiff will now be a regular on CNBC. He sent out a note last night saying the Fast Money crew had invited him to be on twice a week. As such, he’s calling on everyone to watch CNBC again, and boost the networks ratings: — Due to your support and viewership, CNBC’s Fast [...]

Four congressional procedure experts: Reconciling With the Past: THOMAS E. MANN, NORMAN J. ORNSTEIN, RAFFAELA WAKEMAN and FOGELSON-LUBLINER: WITH President Obama and Congressional Democrats intent on one last push for health care reform, the main Republican talking point is outrage over the likely use of the reconciliation process to pass a separate House-Senate compromise. The Republicans’ [...]

The Financial Times reports: Big bank oversight to stay with Fed Chris Dodd … is set to propose this week that the 23 largest institutions stay under the Fed’s oversight … At issue … was the regulation of several hundred state chartered institutions that also want to remain under the Fed’s supervision.…“The Fed feels it is [...]

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