When President George W. Bush was considering candidates to be chairman of the Federal Reserve in the autumn of 2005, the rap on Ben Bernanke, a brilliant economist, was that he had never faced a crisis, might be too soft for a challenge and wasn’t politically astute.
With the release of the Volcker rule, the Dodd-Frank Act’s regulatory overhaul is largely complete, giving banks a new degree of certainty about the limits of their business in the wake of the 2008 credit crisis.
U.S. Representative Barney Frank, co-author of the biggest rewrite of Wall Street rules since the Great Depression, will retire instead of seeking another term after Massachusetts re-shapes his congressional district.
U.S. Representative Barney Frank , an architect of the financial-overhaul bill lawmakers sent to President Barack Obama yesterday, said he wants Congress this year to take up the White House plan for a $90 billion bank tax to recoup government bailout funds.
Months after House Financial Services Committee Chairman Barney Frank muscled an overhaul of Wall Street rules through Congress, he is showing signs of weakness in a Massachusetts re-election bid he says is his toughest ever.
Republican presidential candidates promised to deliver the leadership that Washington needs to overcome congressional gridlock as they pitched their plans for jobs and taxes and called for the removal of Federal Reserve Chairman Ben Bernanke during a debate tonight at Dartmouth College in Hanover, New Hampshire. Participating in the event, sponsored by Bloomberg News and the Washington Post, were former Massachusetts Governor Mitt Romney; Texas Governor Rick Perry; former pizza magnate Herman Cain; Michele Bachmann, a Minnesota congresswoman; Newt Gingrich, the former House Speaker; Ron Paul, a Texas representative; former Pennsylvania Senator Rick Santorum and former Utah Governor Jon Huntsman. Moderators of the debate included PBS talk show host Charlie Rose, Bloomberg reporter
In November 2011, Representative Barney Frank, the mouthy Massachusetts Democrat, announced that he would retire from Congress in January 2013. A few short weeks after his retirement last month, he had second thoughts about leaving Washington. He asked Governor Deval Patrick to consider appointing him interim senator after the incumbent, John Kerry, was confirmed as secretary of state.
For all the strange details to emerge in the Maxine Waters bank-bailout scandal, this one might be the most surprising: It turns out members of Congress are prohibited from doing “special favors” for anyone, even if they receive nothing of value in return.