FROM David Cho
Obama Picks a Fight with the Big Banks Former chair of the Federal Reserve, Paul Volker, is gaining clout with the Obama Administration, pushing a crackdown on Wall Street. Meantime the current chair, Ben Bernanke , may not have the votes to be reconfirmed when his term runs out in a little over a week. David Cho reports for the Washington Post . Segment image of yesterday's Obama-Volker. Official White House Photo: Pete Souza
Too Big to Fail...and Still Growing Banks that were rescued as “too big to fail” are now bigger than ever. JP Morgan Chase, Bank of America, Wells Fargo and Citigroup now issue half of America’s mortgages and two-thirds of its credit cards.
Too Big to Fail - and Still Growing Some banks are paying back their part of the $700 billion in TARP loans -- with interest. But challenging questions remain. America's banks that were rescued as "too big to fail" are now bigger than ever, but smaller banks are failing fast. What's the connection? With just four banks -- JP Morgan Chase, Bank of America, Wells Fargo and Citigroup -- now issue half America's mortgages and two-thirds of its credit cards, do consumers still have any choice? Are the institutions that put the entire economy at risk being rewarded? Will it be harder than ever for the government to wrestle them down to size?
New Rules on Executive Compensation The financial crisis was front and center today with the announcement of plans to tighten restrictions on compensation for executives of banks and other companies getting federal bail-out money. President Obama dismissed such rewards in the midst of the current economic crisis as “bad taste” and “bad strategy” that he would not tolerate. David Cho covers the Treasury Department and the financial crisis for the Washington Post .
Can Barack Obama Follow the Money? At Barack Obama's request, President Bush will ask Congress before he leaves office for the second half of the $700 billion financial bailout . But the first half was so badly spent that Congress may not go along.
Can Barack Obama Follow the Money? Lawmakers in both parties are outraged that the Bush Administration lost track of $350 billion, the first half of last year's massive financial bailout . Today, at Barack Obama's request, President Bush agreed to ask for the second half, so Obama will have it as soon as he takes office next week. We hear how banks refused to account for their use of taxpayer money, while there was no effort to prevent mortgage foreclosures. What's Obama saying to assure Congress he can do better?
Terrorism and tweets, hate speech and murder Just days before an election, Britain is coping with a rash of deadly terrorism, and Prime Minister Theresa May is on the defensive. And again today, President Trump has tweeted criticism of the Mayor of London. Later, a double murder in Portland, Oregon has revealed the ugly past of a supposedly “progressive” city. One immediate question: is “hate speech” protected by the First Amendment?
Trump's new look at civil rights and global warming President Trump is reportedly ready to pull the US out of the Paris Agreement on Climate Change. We look at the possible consequences. On the second half of the program, we hear about cuts in Obama-Era civil rights programs called for by the Trump Administration's first budget plan.
Replacing Obamacare: Now you see it… now you don’t As the Senate deliberates replacing Obmacare, health coverage for millions of people is at stake. There've been no public hearings, and a draft measure won't be made public. Is the House version so unpopular that that Senate is hiding a version that looks much the same?
The Trump agenda: where's the beef? President Trump says big things are happening. After celebrating a House bill on health care, he doesn’t yet have Senate agreement. With James Comey’s public testimony scheduled tomorrow, the President today tweeted his selection of a new FBI Director. Is the Chief Executive all style and no substance? Later, terror attacks in Iran and conflicting claims about who’s behind them.