In addition to being the launch date for the Consumer Financial Protection Bureau, this is the one-year anniversary of the Dodd-Frank financial reform law. I wrote yesterday about how the law has not really caused much of a ripple on Wall Street. Let’s hone in on one, maybe the most
The Consumer Financial Protection Bureau opens for business today. It’s an agency with a simple idea: protect consumers from getting screwed in their financial dealings on credit cards, student loans, mortgages, payday lending, bank dealings, etc, etc. Some of the agency’s powers will not be transferred today, because it does
The New York Times is reporting that Congressional leaders have been informed about a “major deal” that would increase the debt limit, cut spending massively and garner future revenue from taxes after an overhaul of the system. This is being worked out between House Speaker John Boehner and President Obama.
The Labor Department reports that first-time unemployment claims rose last week to 418,000, the 15th straight week that unemployment topped 400,000. This is seen as the dividing line for job growth, and for over three months, we’ve been on the wrong side of it. I’m sure that the usual invocation
In Wisconsin, another good poll shows the distinct possibility that Democrats will be able to take back the state Senate, as retribution for passage of an anti-union law that eliminates most forms of collective bargaining for almost all public employees. The poll looks at the race between Republican Sen. Luther
I find this almost unbelievable, and I expect a walkback anytime now, but Grover Norquist told the Washington Post editorial board today that letting the Bush tax cuts expire would not constitute a tax increase for the purposes of his anti-tax pledge. With a handful of exceptions, every Republican member