A massive foreclosure rescue bill cleared a key Senate test Tuesday by an overwhelming margin, with Democrats and Republicans both eager to claim election-year credit for helping hard-pressed homeowners.
Sen. Chris Dodd said Monday that the controversy over two loans he received will not compromise his ability to lead Congress' efforts to ease the subprime mortgage meltdown.
A broad bipartisan coalition supporting a massive foreclosure rescue beat back GOP efforts to gut it Thursday, defying a White House veto threat and quashing a bid to make it victim to revelations about two senators' VIP mortgages.
Be honest: How many of you are really shocked to find out that a bunch of Washington insiders were part of a VIP program coordinated by mortgage giant Countrywide Financial?
Senate Banking Committee Chairman Christopher J. Dodd acknowledged Tuesday that he knew in 2003 that Countrywide Financial Corp. placed him in a "VIP section" when the firm reportedly gave him preferential rates on two mortgages.
Mortgage industry and business groups are urging lawmakers to drop pieces of a housing bill they say would be too restrictive on lenders.
The dismal jobs report on Friday has prompted renewed calls for a second congressional effort to stimulate the economy.
Failed presidential candidates never have an easy time back in the Senate, but Clinton's return will be particularly tough
When the Senate Banking Committee passed a housing bill intended to limit foreclosures, panel Chairman Christopher Dodd, D-Conn., said he expected the measure could help 500,000 borrowers stay in their homes.
Treasury Secretary Henry Paulson is talking tough, but don't expect Washington to bring Fannie Mae to heel till the housing crisis eases.
A massive foreclosure rescue bill cleared a key Senate test Tuesday by an overwhelming margin, with Democrats and Republicans both eager to claim election-year credit for helping hard-pressed homeowners.
Sen. Chris Dodd said Monday that the controversy over two loans he received will not compromise his ability to lead Congress' efforts to ease the subprime mortgage meltdown.
A broad bipartisan coalition supporting a massive foreclosure rescue beat back GOP efforts to gut it Thursday, defying a White House veto threat and quashing a bid to make it victim to revelations about two senators' VIP mortgages.
Be honest: How many of you are really shocked to find out that a bunch of Washington insiders were part of a VIP program coordinated by mortgage giant Countrywide Financial?
Senate Banking Committee Chairman Christopher J. Dodd acknowledged Tuesday that he knew in 2003 that Countrywide Financial Corp. placed him in a "VIP section" when the firm reportedly gave him preferential rates on two mortgages.
Mortgage industry and business groups are urging lawmakers to drop pieces of a housing bill they say would be too restrictive on lenders.
The dismal jobs report on Friday has prompted renewed calls for a second congressional effort to stimulate the economy.
Failed presidential candidates never have an easy time back in the Senate, but Clinton's return will be particularly tough
When the Senate Banking Committee passed a housing bill intended to limit foreclosures, panel Chairman Christopher Dodd, D-Conn., said he expected the measure could help 500,000 borrowers stay in their homes.
Treasury Secretary Henry Paulson is talking tough, but don't expect Washington to bring Fannie Mae to heel till the housing crisis eases.
A group of Democratic lawmakers unveiled sweeping legislation Wednesday that promises to shield consumers from harmful, and in some instances predatory practices, by the credit card industry.
For years, financial firms made good money making government-guaranteed loans to college students.
Paying for college is rarely easy, but this year parents and students could have a tougher time securing the necessary financing.
The Federal Reserve bailed out Bear Stearns to prevent a failure that could have dealt serious consequences to the U.S. economy, Federal Reserve Chairman Ben Bernanke said
Congress on Thursday will scrutinize JPMorgan Chase's controversial acquisition of Bear Stearns and quiz top executives from both firms as well as the regulators who helped engineer the rescue.
The Senate, in a surprise move, has agreed to work out a bipartisan housing package that could come to the floor as soon as Wednesday.
Top Democrats Monday dismissed the Bush administration's plan to overhaul the nation's financial regulatory system as inadequate, with one leading senator calling the proposals a "wild pitch."
Is Treasury Secretary Henry Paulson's plan to overhaul the financial services industry going too far? Not far enough? Does the plan put too much power in the hands of the Federal Reserve?
A pair of high-profile backers of Sen. Barack Obama have called on his rival, Sen. Hillary Clinton, to drop out of the race for the Democratic nomination for president.
The federal government is keeping Bear Stearns out of bankruptcy. Are you next?
Lawmakers grilled bank regulators Tuesday about why they didn't intervene as lax lending standards led to a meltdown in the mortgage market and a credit crunch that threaten the economy.
Federal Reserve Chairman Ben Bernanke told Congress Thursday that the nation isn't "anywhere near" the dangerous stagflation situation of the 1970s
Former Democratic presidential candidate Sen. Chris Dodd on Tuesday endorsed Sen. Barack Obama for president, calling on fellow Democrats "to come together, to get behind this candidacy."
A proposal to bail out subprime mortgage borrowers who are at risk of foreclosure was floated at a Senate Banking Committee hearing Thursday.
In search of the perfect caucus, Joel Stein joined Iowans in their bead-throwing, rule-morphing festival
Sen. Hillary Clinton has taken an early lead in the race for the Democratic presidential nomination, even before voters make their voices heard in the first-in-the-nation presidential contests in Iowa and New Hampshire.
While the front-runners slugged it out in the days before Thursday's Iowa caucuses, second-tier Democratic presidential candidates spent the final hours before the big event plugging away in hope of staging an upset.
A Senate bill that would expand the functions of the Federal Housing Administration (FHA) could help upwards of 200,000 homeowners - though a similar House bill that passed last month is more aggressive.
It may be Thanksgiving, but for some of the presidential candidates, there will be no holiday.
Too many of them -- in Congress and the presidential campaign -- still don't get national security
Democratic presidential candidates faced questions directly from voters on Monday in the first CNN/YouTube debate.
A senior member of the Senate Foreign Relations Committee said Sunday he plans to vote against Michael Mukasey's confirmation as U.S. attorney general.
Five Democratic presidential candidates Tuesday sought to officially withdraw from Michigan's January 15 primary, rendering the event virtually insignificant.
Think picnic, political fundraiser, circus, and rally and it pretty much gives you a visual of The Harkin Steak Fry on a hot-air balloon field in Indianola, Iowa.
Republican senators on Friday were again able to block a Democratic amendment that would set "definite timelines" for bringing home American combat forces from Iraq.
The subprime crisis has put lawmakers under pressure to do something not only to help homeowners who could lose their homes but also to nail the guys who created the mess.
The 2008 presidential campaign and the debate over the U.S. role in Iraq came together Tuesday as five White House hopefuls got a chance to question the Bush administration's top officials in the war effort.
Questions about immigration dominated a forum for Democratic presidential candidates put on Sunday by the Spanish-language television network Univision.
Congressional Democrats promoting legislative solutions to the mortgage-market crisis said Wednesday that a Bush administration plan doesn't go far enough to protect homeowners who face huge increases in their monthly payments when rates on their adjustable mortgages jump in the months ahead.
Tens of thousands of frightened homeowners looking to get out from under the crumbling walls of the subprime mortgage collapse have found refuge in a variety of programs.
U.S. stocks are likely to open higher Wednesday after improved sentiment helped stem a massive flight to quality and yields on shorter-dated Treasurys rebounded.
Bond prices declined across the board Wednesday as the Federal Reserve pumped more money into the banking system to ease rate pressures.
Stocks jumped Wednesday afternoon, as takeover talk and bets that the Federal Reserve will cut interest rates next month soothed worries about the impact of the tightening credit market on equities and the economy.
Stocks rocketed out of the gates Wednesday, as takeover talk helped soothe investors worried that a tightening credit market would curtail the recent run of mergers and acquisitions.
A key U.S. lawmaker said on Tuesday that Federal Reserve Chairman Ben Bernanke pledged to use all tools necessary to calm turbulent financial markets, but he expressed skepticism that the U.S. Treasury appreciated the urgency of the U.S. housing finance crisis.
The Nasdaq composite and S&P 500 index rose Tuesday, as investors welcomed a meeting among Federal Reserve Chairman Bernanke, Senator Dodd and Treasury Secretary Paulson on the problems in the financial markets.
Stocks stabilized Tuesday afternoon as investors took comfort in falling oil prices and a meeting among Federal Reserve Chairman Bernanke, Senator Dodd and Treasury Secretary Paulson on the problems in the financial markets.
Investors again sought the safety of the government bond market Tuesday but reversed their purchases of the shortest-dated, safest securities in a sign that investors are a bit less nervous about the freeze-up in the credit markets.
Stocks stabilized Tuesday afternoon, as investors took comfort in falling oil prices and a meeting among Federal Reserve Chairman Bernanke, Senator Dodd and Treasury Secretary Paulson on the problems in the financial markets.
Stocks recovered near midday Tuesday, on initial positive reports about the meeting between Federal Reserve Chairman Bernanke, Treasury Secretary Paulson and Senator Dodd regarding the problems in the financial markets.
Stocks slipped Tuesday morning as investors mulled ongoing problems in the credit and mortgage markets and opted to put their money in the relatively safer haven of bonds.
Senate Banking Committee Chairman Christopher Dodd sought Monday an unusual meeting with two top U.S. economic policy-makers, Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson, to discuss the recent financial market volatility.
The House Financial Services Committee asked the Federal Reserve and the U.S. Treasury Department to testify at a hearing Sept. 5 that will examine the current crises in the credit and mortgage market, Chairman Barney Frank, a Massachusetts Democrat, said Monday.
U.S. Senate Banking Committee Chairman Christopher Dodd on Friday called for an examination of the credit rating agencies' role in valuing the subprime mortgage securities market.
In the wake of the subprime mess, Democratic presidential candidates are grabbing hold of the issue and offering their own solutions. And the problem, according to many of them, lies with the mortgage broker.
More and more Wall Streeters - especially those new-money hedge fund and private equity managers with net worths stretching toward and beyond the billion-dollar mark - are throwing their considerable moneyed weight behind Democratic candidates. So far, presidential contenders Hillary Clinton and Barack Obama have managed to charm these masters of Manhattan with their policy smarts and scent of potential victory, even while decrying the country's "highest concentration of wealth...since 1929," as Clinton puts it.
The eight candidates vying to be the Democrat nominee for president in the 2008 elections answered questions submitted by CNN and YouTube users in a debate Tuesday night. Here is a full transcript of the event:
Frustrated by Republican efforts to block votes on bringing American combat troops home from Iraq, Senate Democratic leaders rolled out sleeping cots Tuesday for an all-night debate on the war.
Presidential contender Sen. Barack Obama raised at least $32.5 million in the second quarter of 2007, topping his first quarter effort by nearly $7 million, the Illinois Democrat's campaign announced Sunday.
U.S. bank regulators Friday tightened standards for mortgage lending in a bid to curtail risky practices that have been blamed for a record level of foreclosures.
What will New Hampshire voters be listening for when 18 presidential hopefuls square off Sunday and Tuesday in presidential debates? It depends on whom you ask, but on one issue, there is widespread agreement: People want to hear about Iraq.
Every presidential candidate sees New Hampshire as a critical state, but for Democratic candidates looking a breakthrough, the Granite State is the political land of hope and possibility.
Connecticut Democratic Sen. Christopher Dodd said Monday that federal regulators have been "asleep at the switch" and must start exercising their authority to stop the hemorrhaging of the subprime mortgage market.
A day after Senate Democrats and a leading Republican reached agreement on a resolution "disagreeing" with the president's new Iraq strategy, Bush allies scrambled Thursday to prevent more Republican defections.
Democratic lawmakers challenged credit card executives Thursday over rising late fees and other penalties and marketing practices they portrayed as predatory.
Democratic leaders Wednesday moved quickly to back Ned Lamont, the winner of the Connecticut primary.
The White House said Tuesday that the administration has no plans to reach out to Raul Castro, who has temporarily replaced his brother, Cuban President Fidel Castro, due to health problems.
Sen. Christopher Dodd urged President Bush on Sunday to reconsider appointing John Bolton as the next U.S. ambassador to the United Nations without Senate confirmation.
The lavishly acclaimed new era of good feelings in the Senate lasted less than four days.
A Senate vote on John Bolton as U.S. ambassador to the United Nations won't come until at least next month after Democrats forced a delay Thursday, demanding the Bush administration turn over documents.
Why did Monday's Democratic assault on John Bolton at the Senate Foreign Relations Committee have so little to do with how he would perform as U.S. ambassador at the United Nations and so much about Cuban biological warfare?
In the wake of Senate Minority Leader Tom Daschle's election defeat Tuesday, Sen. Harry Reid of Nevada said Wednesday that he has enough support among his colleagues to become the next Democratic leader.
The 800-pound gorilla has long been a metaphor for corporate power. After all, a hefty primate is a much more evocative symbol of size than a huge market cap. But now that good old-fashioned accura...
Ordinary Americans are prohibited from climbing Mount Rushmore, where the faces of four great Presidents are carved in granite. But this September, just before the Senate began debating campaign fi...
Sen. Phil Gramm (R-Texas) loves to brag about blocking health reform legislation: "I am proud that we killed it." But he's less forthcoming about why he just singlehandedly sabotaged a popular bill...
A minor miracle: The Senate Banking Committee brought forth a bill repealing parts of the Depression-era Glass-Steagall Act, which bars commercial banks from most securities activities. The legisla...
The latest big sell in Washington is for federal support of day care, and you'd better believe the merchandise is hot. Democratic political consultant Peter Hart calls it ''the sleeper issue of 198...
It is not much of a secret that the U.S. Senate is in serious trouble. Designed by the country's founders to be a parliamentary body of unique distinction, one in which fundamental questions would ...
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