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Tag Archives: Senate

6 things worth fighting for in the Senate bill

Excellent table via Rortybomb… although it’s actually 7 or 8 things worth fighting for in the Senate financial reform bill… Mr. Rortybomb misses a big one related to legislation on the Federal Reserve… Ryan Grim of HuffPo writes about it the grant of $4 trillion of lending authority to the Federal Reserve with no Congressional […]

Bubble watching and bank supervision

Shahien Nasiripour of Huffington Post wrote a great story today about new language spotted in the FOMC meeting statement… and the pointed use of that language to send a message to the lawmakers who are deciding the new scope of the Fed’s authority… The Federal Reserve is arguing that it must maintain supervisory authority over […]

Upward to insolvency?

Bloomberg reports on the Senate’s failure on it’s first try to address the burgeoning fiscal crisis facing the United States. The Senate voted 53-46 against legislation that would have mandated that Congress adopt recommendations made by a newly created budget panel. This panel could have recommended tax increases, changes in entitlements or other structural changes. First strike for […]

Would someone please ask Chairman Bernanke about the remaining $1.6 trillion notional outstanding exposure of AIG and the American taxpayer?

Lucian Bebchuk of Harvard has made the best rebuttal to Chairman Bernanke’s defense of AIG counterparty payments at 100 cents on the dollar… but no one seems to be focused on the remaining CDS exposure of $1.6 trillion that AIG and the US taxpayers have… I think this might be an important point before the […]