Senate Banking Committee

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Warren Calls Fed Chair a 'Dangerous Man'

She tells Jerome Powell she will oppose his renomination

(Newser) - Sen. Elizabeth Warren addressed what she called the "elephant in the room" at a Senate Banking Committee hearing Tuesday—the question of whether Jerome Powell will be renominated as Federal Reserve chair. The Democrat told Powell that she considers him a "dangerous man" who has weakened the country'...

Warren to Regulators: Why Don't You Take More Banks to Court?

Senator makes a splash at first hearing; critics see grandstanding

(Newser) - Elizabeth Warren has kept a low national profile in her first month on the job as a senator, but that changed yesterday at a hearing in which she grilled federal regulators of Wall Street, reports the Boston Globe and MassLive . In the exchange getting the most attention, Warren noted that...

Elizabeth Warren Goes to Washington

Will she hold fast to populist stances, or learn art of compromise?

(Newser) - Sen.-elect Elizabeth Warren is heading back to Washington, this time riding in as a member of the very institution that sent her unceremoniously packing over her anti-Wall Street rhetoric and Consumer Financial Protection Bureau, and the New York Times takes a look at what sort of legislator the latest...

Watchdog: SEC Sued Goldman to Bury Ponzi Probe

SEC official quashed Stanford probe then sought to represent him

(Newser) - The SEC in April faced the release of a report slamming it for bungling an alleged Ponzi scheme. So what's a watchdog to do? Sue Goldman Sachs the same day, the agency's own internal watchdog told a Senate committee yesterday. Inspector-general H. David Kotz said it "would strain credulity...

Obama to GOP: Go Ahead, Make My Day
Obama to GOP:
Go Ahead,
Make My Day
Apr 15, 2010 10:08 AM CDT

Obama to GOP: Go Ahead, Make My Day

He won't compromise on financial reform; dares them to vote nay

(Newser) - After a tense meeting on financial reform with GOP leaders yesterday, Barack Obama put on his Michael Corleone face and told them his final offer was this: nothing. The president made it clear that he wouldn’t accept any compromise that would weaken the legislation, and essentially dared Republicans to...

Republicans Say Financial Reform Will Pass

'This is so unlike the health care debate,' says Bob Corker

(Newser) - Two top Republican Senators say Barack Obama’s bid to overhaul the financial regulatory system is sure to get through the upper chamber. “This is so unlike the health care debate,” Bob Corker told Politico , saying Republicans had made a “major strategic error” by refusing to negotiate...

Dodd, Shelby at 'Impasse' Over Financial Reform

Prospect of bipartisan deal fades

(Newser) - Attempts to craft a bipartisan financial regulatory overhaul have broken down, Chris Dodd announced today, raising the possibility of another partisan brawl like the health care debate. “Last night, Senator Shelby assured me that he is still committed to finding a consensus,” the Senate Banking Committee chairman said...

Maybe Dodd's Angling for 'Cushy Bank Job'

Senator's threats on Volcker rule insane, and bad politics

(Newser) - That Sen. Chris Dodd would sacrifice tighter regulations on big banks in the name of bipartisanship is so insane—and bad politics, to boot—that his threats on the so-called Volcker rule have Joe Klein wondering if the Connecticut Democrat “just wants a nice, cushy bank job after he...

Bank Risk Rules Could Die in Senate
 Bank Risk Rules 
 Could Die in Senate 
DODD: BIPARTISAN OR BUST
Feb 1, 2010 6:14 PM CST

Bank Risk Rules Could Die in Senate

Retiring Dodd wants GOP support, Obama be damned

(Newser) - President Obama’s plan to limit the amount of risk big US banks can take could well die in the Senate if the measure isn’t seen as bipartisan enough by Chris Dodd, the retiring Banking Committee chair, and Senate Republicans. “He wants to end his career with an...

Dodd to Join Ritter, Dorgan in Dem Exodus

Connecticut Dem second senator to eschew re-election bid in 24 hours

(Newser) - Embattled Connecticut Sen. Chris Dodd plans to announce today that he will not seek re-election this year, ending a 30-year Senate career, according to Democratic sources. Dodd joins Sen. Byron Dorgan who announced his exit less than 24 hours ago, and Colorado Gov. Bill Ritter, expected to do the same...

Shelby, Dodd Expect Bipartisan Financial Reform

January markup possible as fears of a partisan battle fade

(Newser) - Hoping to avoid a repeat of the health care dogfight, Chris Dodd and Richard Shelby think they’ve made “meaningful progress” on a bipartisan deal on financial regulatory reform. Dodd’s initial solo draft of the bill drew Republican jeers asked top members of his Senate Banking committee to...

Banking Panel Snipes at Bernanke, But Backs Him

The 16-7 vote reveals unease about Fed chairman

(Newser) - The Senate banking panel endorsed Ben Bernanke’s nomination for a second term atop the Fed, but it was hardly a slam dunk for Time’s new person of the year. The 16-7 vote was a far cry from his original, near-unanimous appointment, with only four of the committee’s...

'I Did Not Anticipate a Crisis of This Magnitude'
'I Did Not Anticipate a
Crisis of This Magnitude'
bernanke's rough day
Dec 3, 2009 5:45 PM CST

'I Did Not Anticipate a Crisis of This Magnitude'

Fed chief takes a beating but seems to have support for new term

(Newser) - Ben Bernanke took some serious lumps today on Capitol Hill, but he still seems to have the support he'll need to get a second term as chief of the Federal Reserve. "I did not anticipate a crisis of this magnitude," he told members of a Senate panel during...

Bernanke on Defensive in Confirmation Hearing

Senators full of criticisms for the Fed

(Newser) - Ben Bernanke was forced to play defense in his confirmation hearing today, as the Senate Banking Committee rained down criticism on the Fed and its chairman. Some, like Chris Dodd, signaled approval of Bernanke’s leadership but not of the Fed’s bid for increased regulatory control. “Why should...

Bernanke on Offense Ahead of Confirmation Battle

Fed chair makes his case ahead of Senate hearing; Sanders will vote no

(Newser) - Ben Bernanke's reappointment to a second 4-year term is virtually certain, but the path appears likely to be a somewhat rocky one. The Fed chairman's confirmation will be the subject of a Senate Banking Committee hearing Thursday, and one senator has already said he'll vote no when the matter comes...

Bernanke: Hero on Wall Street, Despised in Congress

(Newser) - Ben Bernanke can expect a standing ovation from economists at a Fed retreat in Jackson Hole today—for the financial establishment, the Fed chairman is a superhero, hailed for his aggressive, unprecedented actions to stem the worst crisis in generations. Yet on Capitol Hill he's far less popular, and the...

White House Foreclosure Plan a $50B Bust

(Newser) - The Obama administration's plan to help millions of homeowners avoid foreclosure has so far been a major failure, Politico reports. It's reached just 160,000 of the 3 to 4 million homeowners it was supposed to protect, and another 2 million homes are expected to be foreclosed upon before the...

Congress Wary of Fed's Growing Power
Congress Wary of Fed's Growing Power
ANALYSIS
Jun 19, 2009 8:30 AM CDT

Congress Wary of Fed's Growing Power

After decades of deference, legislators turn on central bank

(Newser) - Tim Geithner testified before the Senate Banking Committee yesterday, but as the Washington Post reports, it's not the Treasury but the Fed whose growing powers most worry legislators. Republicans and Democrats are both venting that Ben Bernanke's office did little to stop the excesses of the boom years, only to...

Banks Raised $56B Since Tests: Geithner

Stress assessments boost confidence, have helped markets heal

(Newser) - Government stress tests boosted confidence in the nation’s biggest banks and helped them raise $56 billion in needed capital, Treasury Secretary Tim Geithner told Congress today. His remarks were met by bipartisan skepticism, with members noting that smaller institutions still face severe challenges, the Wall Street Journal reports. “...

Will the Real Chris Dodd Please Stand Up?
Will the Real Chris Dodd Please Stand Up?
analysis
Mar 27, 2009 12:38 PM CDT

Will the Real Chris Dodd Please Stand Up?

Senator part populist, part bank ally

(Newser) - Chris Dodd is a man of contradictions, writes David Whitford for Fortune. The Democratic senator portrays himself as a populist; he’s passed consumer-protection and family-issues laws, and he staunchly opposed the bankruptcy bill. But he’s also received loads of cash from financial companies, including AIG, and played a...

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