Congress launched a formal debate on reforming the ailing U.S. health care system Wednesday with a Senate committee considering a comprehensive bill backed by Democrats and the Obama administration.
The national debate on health care entered a new arena Tuesday, with Senate Democrats proposing a comprehensive bill that will launch a heated congressional battle to determine if America adopts universal coverage.
The average American family carries $8,000 to $10,000 in credit-card debt. A new Web site, called helpwithmycredit.org, was developed by the credit card industry to help consumers out. The site promises to help you manage your debt; communicate better with your credit card companies, and will hook you up with accredited credit counselors.
In the U.S. Senate, seniority is all: You wait your turn. No one knows that better than Democrat Chris Dodd, the senior senator from Connecticut. "I went through 28 years of sitting next to people who either had the constitution of mules or great longevity," Dodd told Fortune late one afternoon recently in his arch-windowed office on Capitol Hill.
There is a chill wind blowing across this land of ours.
AIG understated the amount of money it paid out to top executives after receiving federal bailout money, the attorney general of Connecticut says -- but AIG denies the accusations.
Fallout from anger over AIG's bonuses is following Sen. Chris Dodd from Washington back home to Connecticut.
Twenty state attorneys general announced investigations Friday into the $165 million bonuses paid by insurance giant AIG last week, with Connecticut's top lawyer issuing subpoenas to CEO Edward Liddy and 11 other executives.
A defiant Sen. Chris Dodd defended his actions on bonuses for AIG executives Friday as news surfaced that a senior company executive was returning his $6 million bonus.
Treasury Secretary Timothy Geithner confirmed Thursday that the department did talk to Sen. Chris Dodd about a clause he put forth in the stimulus legislation that would have strictly limited executive bonuses.
Congress launched a formal debate on reforming the ailing U.S. health care system Wednesday with a Senate committee considering a comprehensive bill backed by Democrats and the Obama administration.
The national debate on health care entered a new arena Tuesday, with Senate Democrats proposing a comprehensive bill that will launch a heated congressional battle to determine if America adopts universal coverage.
The average American family carries $8,000 to $10,000 in credit-card debt. A new Web site, called helpwithmycredit.org, was developed by the credit card industry to help consumers out. The site promises to help you manage your debt; communicate better with your credit card companies, and will hook you up with accredited credit counselors.
In the U.S. Senate, seniority is all: You wait your turn. No one knows that better than Democrat Chris Dodd, the senior senator from Connecticut. "I went through 28 years of sitting next to people who either had the constitution of mules or great longevity," Dodd told Fortune late one afternoon recently in his arch-windowed office on Capitol Hill.
There is a chill wind blowing across this land of ours.
AIG understated the amount of money it paid out to top executives after receiving federal bailout money, the attorney general of Connecticut says -- but AIG denies the accusations.
Fallout from anger over AIG's bonuses is following Sen. Chris Dodd from Washington back home to Connecticut.
Twenty state attorneys general announced investigations Friday into the $165 million bonuses paid by insurance giant AIG last week, with Connecticut's top lawyer issuing subpoenas to CEO Edward Liddy and 11 other executives.
A defiant Sen. Chris Dodd defended his actions on bonuses for AIG executives Friday as news surfaced that a senior company executive was returning his $6 million bonus.
Treasury Secretary Timothy Geithner confirmed Thursday that the department did talk to Sen. Chris Dodd about a clause he put forth in the stimulus legislation that would have strictly limited executive bonuses.
Senate Banking committee Chairman Christopher Dodd told CNN Wednesday that he was responsible for language added to the federal stimulus bill to make sure that already-existing contracts for bonuses at companies receiving federal bailout money were honored.
When Senator Chris Dodd, (D-Connecticut) crammed what he dubbed "tough new limits" on "lavish Wall Street bonuses" into the stimulus package, he may have created a bigger problem for the economy than the one he was trying to solve. The reason? His plan inadvertently rewards nonperformance and will drive talented financiers away from the companies that need them most.
An amendment in the $787 billion economic stimulus package passed by Congress Friday would severely restrict bonuses and other forms of compensation for top executives at companies receiving federal bailout money.
This much we know -- the Obama administration wants to set aside between $50 billion and $100 billion to address the foreclosure crisis.
Cash-strapped consumers got some welcome news on Thursday when regulators voted to rein in controversial credit card practices. But they'll have to wait another year and a half to get relief - the new rules won't take effect until July 1, 2010.
It arrived in Rich Stevens' mailbox a few weeks ago: the notice that Citibank had "rate-jacked" the Visa cards belonging to him and his wife.
Cash-strapped consumers might get some welcome news on Thursday when regulators vote to rein in controversial credit card practices.
If and when Detroit's automakers actually get their taxpayer-funded lifelines, Senator Christopher Dodd will be remembered for his tough-guy demand that General Motors CEO Rick Wagoner be shown the nearest exit.
The case for a bailout of U.S. automakers came under sharp scrutiny on Tuesday at a congressional hearing that portrayed the Big Three as both short-sighted in their business strategies and central to the economy.
Senate Democrats on Friday said they plan to vote on a bill meant to aid struggling automakers despite vocal opposition from Republicans.
The top Democrat on the Senate Banking Committee said Thursday there is not enough support among Republicans to pass a proposed bailout package for the auto industry.
Lawmakers pressed bank executives on Thursday to explain how they were using the billions of dollars they've received from the federal government as part of the $700 billion bailout.
The debate over whether Washington should enact an extraordinary bailout of the nation's financial system reached a fever pitch at a Senate hearing on Tuesday.
At a hearing Tuesday before the Senate Banking Committee, federal officials said a bailout is needed immediately for the health of the U.S. economy.
If you've ever had your interest rate jacked up on your credit card, it's your turn to gripe. Here are top tips on how to make your complaints count.
Failed presidential candidates never have an easy time back in the Senate, but Clinton's return will be particularly tough
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.
Paying for college is rarely easy, but this year parents and students could have a tougher time securing the necessary financing.
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."
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.
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
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.
Too many of them -- in Congress and the presidential campaign -- still don't get national security
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.
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 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.
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.
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.
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.
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.
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.
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.
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?
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...
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...
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