Bailout and Financial Crisis News

(Robyn Beck/AFP/Getty Images) By Jacob Goldstein Wal-Mart already has “MoneyCenters” in 1,000 of its U.S. stores, and the company said yesterday it plans to to add 400 more by the end of the year. The centers offer services like check cashing and bill pay [...]

(This guest post originally appeared at FederalReserve.gov) Chairman Frank, Ranking Member Bachus, and other members of the Committee, I am pleased to have the opportunity to discuss the Federal Reserve’s role in bank supervision and the actions that we are taking to strengthen our supervisory oversight. The Federal Reserve’s Role in Supervision Like many central banks around [...]

(This guest post previously appeared at the author’s blog) The Chinese new year has only just started, and already trade tensions are ratcheting up. This is perhaps appropriate — astrologers tell us that the year of the Tiger is often a year of instability and conflict — and I suspect things will almost certainly get worse. [...]

Annally Capital plots the data from the latest Federal Reserve flow of funds report: And Edward Harrison at Credit Writedowns explains exactly what this means: First of all, what this chart shows you is that the consumer is not deleveraging significantly (see Consumer credit down, but does it show deleveraging? and Why is everyone saying consumer credit [...]

Senior Obama administration officials say the nation’s economic recovery could stall if Congress doesn’t pass a climate bill this year. The officials warn that investors are so uncertain about the future cost of emitting greenhouse gases that they are sitting on capital rather than pouring it into “clean” technology, new power plants or energy-intensive manufacturing. The administration [...]

It’s not that we want to delve into contentious Mid East — though it is a huge story — but we have been highlighting the fraying US-Israeli relationship as evidence that healthcare reform is blotting out the sun. See, we’ve been stunned by the lack of conservative uproar over Obama and Israel. That all changes this evening, [...]

These are the items that I found worth reading today: • Regulation two-fer: - – --Wall Street Loses as Small Banks Win (WSJ) - - -Reform Bill Adds Layers of Oversight (NYT) • 4 bln yanked from U.S. stock funds in February (Reuters) • Lehman Two-fer: - – -At Lehman, Watchdogs Saw It All (NYT) - - -Lehman Whistle-Blower’s Fate: Fired (WSJ) • [...]

(This guest post originally appeared at The Senator’s website) Mr. President, last Thursday, the bankruptcy examiner for Lehman Brothers Holdings Inc. released a 2,200 page report about the demise of the firm which included riveting detail on the firm’s accounting practices.  That report has put in sharp relief what many of us have expected all along:  [...]

Chinese officials are closing the ranks when it comes to the nation’s yuan exchange rate policy — the currency will only be adjusted when China is ready and when it is in their interest. Moreover, the yuan isn’t to blame for America’s economic problems according to commerce spokesman Yao Jian. The trade deficit is a natural outcome [...]

Pete Davis expresses the sentiment very well: Thank You Marjorie Margolies-Mezvinsky: I’ve always wanted to thank Marjorie Margolies-Mezvinsky (D-PA) for her courageous deciding vote for President Clinton’s 1993 deficit reduction bill. Her Republican colleagues jeered her as she walked down the aisle to cast her vote with shouts of “Bye, Bye Marjorie!” Her crime — voting [...]

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