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The Fed

President Obama: Replace Bernanke With Volcker

Jacob Heilbrunn | Posted 05.25.2011 | Business
Jacob Heilbrunn

No one is better positioned to crack down on Wall Street excesses and push through genuine deficit reduction than Paul Volcker.

Questions That Ben Bernanke Must Answer

Simon Johnson | Posted 05.25.2011 | Politics
Simon Johnson

With President Obama having launched a major new initiative to rein in the power of our leading banks, key Senators rightly begin to wonder: Where does Bernanke stand on the central issue of the day?

Questions For Ben Bernanke's Senate Hearing

Washington's Blog | Posted 05.25.2011 | Politics

The Senate Banking Committee will be chatting with Ben Bernanke this Thursday to vote on his reappointment. Demand that the Committee ask the followi...

Wall Street's Record Bonuses Return: Analysts Predict $30 Billion In Bonuses At Big 3

Bloomberg | Michael J. Moore and Ian Katz | Posted 05.25.2011 | Business

Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co.'s investment bank, survivors of the worst financial crisis since the Great Depressio...

"End The Fed" Rap Song (VIDEO

Posted 05.25.2011 | Business

Ever heard the phrase "the medium is the message"? In the case of the rap in "End The Fed," the anti-Federal Reserve music video below, the medium is ...

Arthur Delaney

Fed Shuts Down Credit Card Practices Congress Forgot To Ban

HuffingtonPost.com | Arthur Delaney | Posted 05.25.2011 | Business

The Federal Reserve announced Tuesday some new rules for the credit card industry, which will take effect Feb. 22 per the reform passed by Congress la...

Revisiting The Fed's Bailout Of AIG And The Benefits For Goldman Sachs

New York Times | GRETCHEN MORGENSON | Posted 05.25.2011 | Business

A RAY of sunlight broke through the Washington fog last week when Neil M. Barofsky, special inspector general for the Troubled Asset Relief Program, p...

Barack Obama Is Doing My Job; Why America Needs Him to Do His

Arianna Huffington | Posted 05.25.2011 | Business
Arianna Huffington

When it comes to dealing with Wall Street, President Obama seems to have traded in his position as our economy's commander-in-chief for a different role: pundit-in-chief.

The House Oversight Committee Sets Its Focus Where The Senate Financial Crisis Inquiry Commission Feared to Tread

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

During the Senate hearings many questions were asked, but not the question that would have been most revealing: Did Paulson and Blankfein discuss the viability of AIG?

Fed Tightens Rules On Regional Directors

nytimes.com | EDMUND L. ANDREWS | Posted 05.25.2011 | Business

WASHINGTON -- The Federal Reserve, under attack in Congress for being too entwined with big banks, closed a loophole on Wednesday that allowed a direc...

Big Pharma's Crime Spree: Drug Makers Pushing Products For Unapproved Uses

Bloomberg | David Evans | Posted 05.25.2011 | Business

Pfizer and Lilly lead a parade of U.S. companies that have paid $7 billion in penalties after promoting drugs for uses not approved by the FDA. This u...

The Statistics Of The Great Recession

AP | TIM PARADIS | Posted 05.25.2011 | Business

NEW YORK — A year ago this weekend, the Dow Jones industrial average had just finished a slow-motion crash. Over eight days, it fell 2,400 point...

Why the "Audit the Fed" Movement Is Dead Wrong

Hale "Bonddad" Stewart | Posted 05.25.2011 | Business
Hale

If the proposals of the "audit the Fed" crowd" are implemented, the U.S. economy will be crippled to the point of economic deadlock.

White House Looking To Cut Deficit With Extra TARP Cash

wsj.com | By DEBORAH SOLOMON and JONATHAN WEISMAN | Posted 05.25.2011 | Politics

The Obama administration, under pressure to show it is serious about tackling the budget deficit, is seizing on an unusual target to showcase fiscal r...

Wall Street Follies: The Next Act

New York Times | GRETCHEN MORGENSON | Posted 05.25.2011 | Politics

It certainly sounded good. Hoping, perhaps, to persuade a dubious public that curbing reckless business practices is indeed a Washington priority, t...

Friday Talking Points [107] -- What A Week

Chris Weigant | Posted 05.25.2011 | Politics
Chris Weigant

Much of the frenzied activity took place this week behind closed doors (and most decidedly not on C-SPAN), as health care reform entered its final negotiating phase.

Low Interest Rates Could fuel Speculative Financial Bubble: Federal Reserve

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — The Federal Reserve doesn't expect the recovery will be strong enough to quickly drive down the jobless rate, and acknowledged its ...

Economic Crisis Compels Economists To Reach For New Paradigm

Wall Street Journal | MARK WHITEHOUSE | Posted 05.25.2011 | Business

The pain of the financial crisis has economists striving to understand precisely why it happened and how to prevent a repeat. For that task, John Gean...

Roubini: How The Fed Should Withdraw The Stimulus

The Globe and Mail | Nouriel Roubini | Posted 05.25.2011 | Business

There's a general consensus that the massive monetary easing, fiscal stimulus and support of the financial system undertaken by governments and centra...

Who's Regulating The Regulators?

New York Times | GRETCHEN MORGENSON | Posted 05.25.2011 | Business

Senior regulators who stood idly by for years as financial firms built their houses of cards have been rewarded with even bigger jobs or are jockeying...

Government Faces Tough Decisions About Hot To Stabilize Mortgage Market

washingtonpost.com | Zachary A. Goldfarb and Dina ElBoghdady | Posted 05.25.2011 | Business

Only one lender of consequence remains: the federal government, which undertook one of its earliest and most dramatic rescues of the financial crisis ...

Ben Bernanke -- Now and Forevermore

Michael Brenner | Posted 05.25.2011 | Business
Michael Brenner

With Ben Bernanke ensconced for another term, keep your hand on your wallet -- and whatever is still in it.

A Recovery Foundation Built on Sand

Michael Pento | Posted 05.25.2011 | Business
Michael Pento

The Fed's conundrum is this: Bernanke needs to defend the dollar and raise interest rates to provide for a viable and long-lasting recovery. But the short-term effect would be a devastating recession.

The Fed, Da! Retail Sales, Nyet! Which Way Is Up?

Stanley Bing | Posted 05.25.2011 | Business
Stanley Bing

Economists, who are always cited but never quite right, it seems, expected a .1 percent gain in retail, excluding auto. Instead, the sector fell 6 percent. That qualifies as a surprise in any book.

Three More: Now Half Of Bank Of America's Directors Have Quit

McClatchy | Christina Rexrode | Posted 05.25.2011 | Business

The shake-up in Bank of America Corp.'s boardroom, apparently orchestrated by the hand of government regulators, continued Friday evening, when the ba...