WALL STREET'S LOBBYEST LOBBYISTS
The Volcker Rule’s a’comin, and Wall Street’s not happy. To equate their reaction to an alcoholic’s take on prohibition might be understating the case. They’re pissed, and they’re writing letters. Read More
Extremely tall former Federal Reserve Chairman Paul Volcker, who now acts as an advisor to President Obama, said last night that the financial system is just as broken as it was when the world as we knew it was ending in 2008.
It’s not liable to get any less broken any time soon. A Read More
Wall Street’s Wild West days are almost over. Tonight, by a count of 59 to 39, with four Republicans voting along with the Democratic majority, the Senate passed a 1,500-page financial reform bill. It not only includes the so-called Volcker Rule, which limits banks’ proprietary trading, but will create new consumer protection, curbs on banking, federal Read More
Remember the city’s plan to root out bad teachers? Well, it’s in full swing; there have been three dismissals!
Mort Zuckerman isn’t dismissing the idea of running for the Senate. The real estate and media mogul is talking to George Pataki and Ed Cox about running as a Republican.
In fact, lots of Read More
Not long ago, President Barack Obama finally got around to filling three of the top jobs at the Treasury Department that had been vacant since his inauguration.
But even afterward, one top financial job was left conspicuously unfilled—namely, the role of Economic Surrogate in Chief.
A good economic statesman—somebody who can crunch budget projections by Read More
In several conversations with Democratic insiders about Barack Obama’s transition process over the last week, one prospect that apparently was under consideration by the campaign was to temporarily appoint a well-known and highly credible figure to the position of Treasury Secretary to instill confidence until the nation overcame the current financial crisis.
It was in Read More
A fortnight ago, the Federal Reserve raised its base rate for the 17th time in two years, to 5.25 percent. The purpose of the hike was to fight inflation, classically defined as too much money chasing too few goods. Higher interest rates are thought to suppress the demand for credit, and with it, the specter Read More
A fortnight ago, the Federal Reserve raised its base rate for the 17th time in two years, to 5.25 percent. The purpose of the hike was to fight inflation, classically defined as too much money chasing too few goods. Higher interest rates are thought to suppress the demand for credit, and with it, the specter Read More
