From the category archives:

Congress

Credit Card Reform and 79.9% Interest Rates

February 16, 2010

The average American family has five credit cards and just under $11,000 in credit card debt.  Our new credit card statements will be easier to read.  You will have 45 days notice if the rates change.  The credit card companies can raise our interest rates if we are 60 days late making our payments, but [...]

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Congressional Hearing on Breast Cancer Task Force

December 2, 2009

The Subcommittee Hearing was a total waste of time and about as off point as any in recent days if the discussion was to be about breast cancer.  The Democrats and the Republicans on the subcommittee squandered the opportunity to delve into the science of the breast cancer recommendations.  Rather, for the most part members [...]

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American Public Wins in House over Credit Card Banks

April 30, 2009

Perhaps, it was the November election of President Barack Obama that helped wake up Congress.  Or, perhaps the banks are short of lobby cash to pay off the reps and senators.  Or, perhaps change is really happening.
Whatever is going on, the House of Representatives slapped the banks and bankers today when they voted on some [...]

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Geithner Goes to Congress, Obama Goes Online

March 26, 2009

The G-O team of Secretary of Treasury Timothy Geithner and President Barack Obama were the stars of today’s showtime.
Secretary Geithner once again faced questions before the House Financial Services Committee, this time about reform:
“To address this will require comprehensive reform,” Geithner said in prepared testimony for a House Financial Services Committee hearing. “Not modest repairs [...]

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Two Wrongs Do Not Make a Right

March 22, 2009

The Democratic Party is acting like the ass that represents them.  Who could have imagined that Congress, both the House and the Senate, could squander the opportunity to lead our nation into a better place?
Well, this week we have seen the heavily Democratic dominated Congress act like the ringmasters of their own three ring circus.  [...]

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More Bonuses and Unpaid Corporate Taxes

March 20, 2009

Following the AIG bonus bungle, it is now reported that Fannie Mae is set to write bonus checks into the millions of dollars.

And reports surfaced that beleaguered mortgage giant Fannie Mae was set to pay millions in retention bonuses — the very sort of payouts that has fueled condemnation of AIG all this [...]

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House Taxes AIG Bonuses Back to Taxpayers

March 19, 2009

By a vote of 328-93, the House of Representatives voted to tax the AIG bonuses totally $165 Million by 90%.  It was nothing short of a two-ring circus in the House as the Republicans held dominated one ring and the Democrats the other.  Finally, due to the majority of votes being held by Democrats, Republicans [...]

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Edward Liddy Faces House Finance Subcommittee

March 18, 2009

Like everyone else in the country I am angry about the AIG retention bonuses.  But…
As I watched the first part of Edward Liddy’s testimony before the House Finance Subcommittee today, I was struck with a feeling of embarrassment.  Oh, I’m not going to say I have changed my mind on the bonuses.  I haven’t.  But, [...]

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Peanut’s Parnell Pleads Fifth Amendment Protection

February 11, 2009

Okay, so when I got up this morning I was torn between watching the Congressional hearings on the peanut salmonella case and watching eight bank CEO’s get a good grilling by another Congressional committee. I turned to the Congressional committee hearing on the peanut case first, wanting to get my first look at Stewart Parnell, [...]

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Rep. Gary Ackerman (D-NY) Burns SEC GC Andy Vollmer a New One

February 4, 2009

The second panel of the day before the House Finance Committee lived up to expectations. Perhaps, Representative Gary Ackerman (D-NY) lit the first brigade of fireworks. In fact, he came to the hearing with a rocket propelled grenade launcher.
Andy Vollmer, the General Counsel for the SEC, took direct hits. It was announced that Mr. Vollmer [...]

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