New Controversy: Financial Reform Bill Contains Quotas For Minority Hiring On Wall Street(LOL)
Thursday 29th of July 2010 09:41:49 PM
Posted by admin / Under Finance
| New Controversy: Financial Reform Bill Contains Quotas For Minority Hiring On Wall Street Joe Weisenthal | Jul. 28, 2010, 5:27 AM This is always how it goes with big bills. Politicians and the media focus on a few big issues (prop trading, the Consumer Financial Protection Agency, etc.) while small, but controversial measures, get slipped in the back door, and then become the subject of fascination several days after the bill has passed. It happened with healthcare, after people suddenly realized there was a provision to go after fast food. And now with the Dodd-Frank Act, according to POLITICO, there's... |
How House Progressives Can Stop the Catfood Commission From Slashing Social Security
Thursday 29th of July 2010 09:41:49 PM
Posted by admin / Under Finance
| There is strong concern that the lame-duck Congress will be used to pass the Catfood Commission’s recommendations to slash America’s social safety net with cuts to Social Security and Medicare benefits. The idea of a Democratic President and a Democratic Congress allowing cuts to our great social programs that will result in millions of seniors falling into poverty is a horrifying thought. Fortunately, progressives in the House have the power to stop this if they are willing to play hardball politics. The Catfood Commission, conveniently, won’t release its recommendations until early December. That’s too late to let voters incorporate it... |
Special Report -- Consumer Confidential
Thursday 29th of July 2010 09:41:49 PM
Posted by admin / Under Finance
| The rules of money are getting a makeover, and it's about time. With the implosion of the housing market, the collapse of credit, the upheaval on Wall Street, and our brush with a second Great Depression, we've all paid a high price for the abuses at the center of our economic mess. The fallout has been painful: trillions of dollars in lost savings, 7.6 million people newly unemployed, and record-high home foreclosures and bankruptcies—a tidal wave that has yet to crest. Among those hurt most are Americans over 50, who had more to lose and have less time to recover.How... |
Financial reform law includes big cash incentives for whistle-blowers [gov't $ for informants]
Thursday 29th of July 2010 09:41:49 PM
Posted by admin / Under Finance
| The new financial reform law has what some lawyers call a secret weapon against fraud on Wall Street and in corporate America: the promise of a million-dollar jackpot to insiders who reveal an illegal scheme to the government. Tucked in the massive bill is a provision that for the first time extends a concept long applied to government contracts to the private sector. It gives whistle-blowers a mandatory 10% — and as much as 30% — of what the government recoups in fines and settlements in financial fraud cases. These can include insider trading, false earnings reports and classic Ponzi... |
Historic financial overhaul signed to law by Obama
Thursday 29th of July 2010 09:41:49 PM
Posted by admin / Under Finance
| WASHINGTON – Reveling over a new milestone in his presidency, a triumphant Barack Obama on Wednesday signed into law the most sweeping overhaul of lending and high-finance rules since the Great Depression, adding safeguards for millions of consumers and aiming to restrain Wall Street excesses that could set off a new recession ... |
Relief Effort Fails Many At Risk Of Foreclosure
Thursday 29th of July 2010 09:41:49 PM
Posted by admin / Under Finance
| WASHINGTON – The Obama administration's effort to help those at risk of losing their homes is failing to aid many and could spur a rise in foreclosures that would further depress the housing industry. More foreclosures would force down home prices and that would deter already-ailing homebuilders from starting new projects. |
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