Rotating Villains and Audit the Fed: Which of the 67 Will Toady to Wall Street?

By: Tuesday May 4, 2010 9:05 am

In order for the Audit the Fed amendment to fail, even with a 60 vote bar, a significant number of Senators will have to outright toady to Wall Street since 67 of them either voted for or cosponsored the bill in the past year. Who’s going to be a Wall Street toady?


Audit the Fed Amendment “Probably” Will Need 60 Votes To Pass

By: Tuesday May 4, 2010 6:08 am

Sen. Bernie Sanders’ office believes that his amendment calling for an audit of the Federal Reserve will “probably” require 60 votes in order to pass and get into the broader financial reform bill, whether because of a bipartisan agreement on vote thresholds for amendments or a filibuster from a Senator opposed to the amendment.

Dodd’s FinReg Draft Keeps Federal Reserve as Main Regulator for Big Banks

By: Monday March 8, 2010 6:30 pm

Financial regulatory “reform” is beginning to look a lot like the status quo. We’ve already heard that the proposed Consumer Financial Protection Agency would be housed inside the Federal Reserve, which already held responsibility over consumer protection (and failed miserably at the task). Now the Financial Times reports that the Fed will also keep their supervision over the biggest banks, another area in which they failed but will face no diminution of power.

The Bernanke Confirmation: Incompetence, Indifference and Institutional Inertia

By: Wednesday January 27, 2010 5:33 pm

Fed Reserve Chair Ben Bernanke’s cloture vote will take place tomorrow, the day after the State of the Union. We may hear a 10 second news blip about him clearing a “key procedural hurdle,” and then the gas-bags will go back to analyzing the President’s body language and the First Lady’s taste in fashion.

And on Monday, Ben Bernanke will continue studiously ignoring the increasing unemployment rate while ensuring the Wall Street “Masters of the Universe” remain insulated from their disastrous decision-making.

Timeline: Follow the AIG Emails

By: Wednesday January 13, 2010 7:01 pm

This is a timeline based on the emails released by Federal Reserve Bank in response to a letter request from Rep. Darrell Issa. These emails show AIG trying to do plain vanilla disclosures, and initially involving the Fed to make sure they were disclosing enough. But the disclosures were inadequate and the Fed did not ensure AIG did make adequate disclosure. The emails released thus far are sufficiently damning and raise a host of suspicions;we have a right to know the full story. Further, because of the push back and forth, it is hardly wild speculation to think there is a smoking gun document out here.

Sen. Dorgan Basically Adding to the Hold on Fed Chair Bernanke

By: Thursday January 7, 2010 8:50 am

Sen. Byron Dorgan’s taking a “don’t mourn, organize” approach to his last year in the Senate.

Politico Plays Catch-up, Notes Transpartisan Unity on Bernanke’s Re-Appointment

By: Monday December 7, 2009 6:30 pm

Politico had a catch-up article about the interesting coalition opening up around Ben Bernanke’s re-appointment and issued of Fed transparency. I say a “catch-up” article because they’re just getting to where I was five days ago. Nonetheless, they have some interesting additions to this. I was amused by Jim DeMint’s palpable fear about being on [...]

Bernie Sanders Puts Official Hold on Bernanke Nom

By: Wednesday December 2, 2009 6:15 pm

Senator Bernie Sanders, Independent Socialist of Vermont, announced today that he has put an official “hold” on the re-nomination of Federal Reserve Bank Chairman Benjamin Bernanke.

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