Posted on 23 November 2009. Tags: 1913, Alan Grayson, audit, Barney Frank, Chairman, Congress, Democrats, Don Cohn, economists, Federal Reserve Bank, General Counsel Scott Alvarez, Glenn Greenwald, Government Accountability Office, House Finance Committee, HR 1207, Mel Watt, Ron Paul, Ryan Grim, Vice Chairman, Waterloo
For the first time in history, the Federal Reserve Bank may be facing an audit. On Thursday, the House Finance Committee passed a bill (HR 1207) that authorizes the Government Accountability Office (GAO) to conduct a wide-ranging audit of the Fed’s secretive deals with foreign central banks and major U.S. financial institutions.
HR 1207, sponsored by Rep. Ron Paul (R-TX), currently has 313 co-sponsors in the House from both sides of the aisle, which is a veto-proof majority. A companion bill in the Senate (S 604) has 30 co-sponsors.
Glenn Greenwald, an investigative reporter writing for Salon.com, points out what may be the most significant aspect of the passage of HR 1207: Read the full story
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Posted in Archive, Authors, Business, Cogent Nirvana, Education, Fact of the day, Featured, History, J.K., Politics, Texas, US Government, World Wide
Posted on 08 November 2009. Tags: 1980s recession, Arizona, Barack Obama, Bay Area, Beacon Trust Company of New Jersey, benchmark interest, BMO Capital Markets, Brad DeLong, California, California State University Channel Islands, Capital Economics Ltd., Carmen M. Reinhart, construction, Dan Greenhaus, David Greenlaw, December 1982, Democrat, Democratic policies, discouraged workers, economic recovery, economics professor, economists, federal government, financial crises, fiscal stimulus, Fred Fraenkel, full-time workers, Great Depression, Great Recession, Health Care, hiring rate, home buyers, hourly wage, House Republican leader, housing bubble, IHS Global Insight, interest-rate cuts, investment chief, job market, Joel Naroff, John Canally, Joseph Brusuelas, Joshua Shapiro, Kenneth S. Rogoff, law, layoffs, LPL Financial, manufacturing, manufacturing sector, Mark Gertler, MarketWatch, MFR Inc., Michigan, Miller Tabak and Co., monthly government survey of workers, Moody’s Economy.com, Morgan Stanley Research, Naroff Economic Advisers, New York University, Nigel Gault, Nonfarm payrolls, October 2009, official jobless rate, ohio, Oregon, part-time workers, Paul Ashworth, Paul Krugman, Payrolls, PG&E, Princeton University, rank-and-file workers, RBS Securities, recession, Rep. John Boehner (R-Ohio), Republican, Republican lawmakers, retail employment, Rhode Island, Sal Guatieri, San Francisco, seasonally adjusted unemployment rate, small businesses, south carolina, Stephen Stanley, stimulus, Sung Won Sohn, tax break, tax credits, Ted Wieseman, temporary-help agencies, The Fed, The Federal Reserve, The New York Times, U.S. Labor Department, U.S. Treasury Department, underemployment, unemployment, unemployment benefits, United States, University of California (Berkeley), wages, White House, work force
For all the pain caused by the Great Recession, the job market still was not in as bad shape as it had been during the depths of the early 1980s recession — until now. Read the full story
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Posted in Archive, Business, Featured, Politics, R.T., The Wire, US Government
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