Treasury Secretary Jacob J. Lew urged Congress to fulfill a U.S. pledge to reinforce the war chest of the International Monetary Fund, saying the lender has helped mitigate financial crises from the Middle East to Europe.
The International Monetary Fund’s Christine Lagarde used the word “challenging” to describe the Cyprus rescue to which she pledged $1.3 billion. She might say the same about where the IMF stands with the U.S. Congress.
President Barack Obama asked Congress to approve a plan to boost the International Monetary Fund’s crisis-fighting resources, trying to make good on a pledge 2 1/2 years ago that would also increase China’s clout at the institution.
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.
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