The U.S. and the U.K. have moved “substantially” closer to losing their AAA credit ratings as the cost of servicing their debt rose, according to Moody’s Investors Service.
The UK taxpayer could still end up forking out for the bailout of debt-stricken Greece despite Treasury assurances, politicians warned last night.
Ever since this editor exposed the foreign money and foreign- and domestic-based operatives who engineered George W. Bush’s re-election in 2004, I was on the receiving end of vitriol from the fake progressive sector of cyberspace.
Relations between Israel and the United States have hit a 35-year low, Israel’s ambassador in Washington said amid simmering tensions between the two key allies.
It would be easy to fix the broken incentives system – so that Wall Street big shots could “see” the destructive effects of fraudulent and risky behavior – if the government could get out of bed with Wall Street long enough to fix the broken incentive system.
Kevin Drawbaugh and Rachelle Younglai
March 15, 2010
The Federal Reserve would win sweeping new powers over nonbank financial firms and keep much of its authority over banks, under revised legislation to be unveiled on Monday by the chief architect of financial reform in the Senate.
In a remarkable recovery by the U.S. central bank after a steep drop in its political popularity, Senate Banking Committee Chairman Christopher Dodd was poised to release a bill that leans heavily on the Fed, sources said on Sunday.
Not only would a new government watchdog for financial consumers be housed within the Fed, but it would also retain much of its present authority over large bank holding companies and gain new authority over selected nonbank financial firms.
Dodd’s bill would give the Fed authority to supervise bank holding companies with more than $50 billion in assets, down from an earlier threshold of $100 billion, sources said.
Full article here
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