U.S. Senators John McCain and Byron Dorgan proposed creating a select committee to examine the causes of the financial crisis, saying congressional efforts to expose abuses have lagged behind those of state officials such as New York Attorney General Andrew Cuomo.
Sept. 13 (Bloomberg) -- Richard Bove, an analyst at Rochdale Securities, Richard Breeden, chief executive officer at Breeden Capital Management LLC, Byron Dorgan, senior policy advisor for Arent Fox LLP, and Sallie Krawcheck, former head of Bank of America Corp.'s wealth-management division, participate in a panel discussion about the state of the banking industry and outlook for regulation. Bloomberg’s Robert Friedman moderates the panel at the Bloomberg Markets 50 Summit in New York. (Source: Bloomberg)
Citigroup Inc., Bank of America Corp. and their biggest rivals could be forced to shrink or divest businesses under proposals emerging as the U.S. Senate weighs a sweeping overhaul of financial-industry regulations.
U.S. lawmakers might be too focused on elections in November to approve legislation this year that charges power plants and other industrial companies a price for releasing carbon dioxide into the atmosphere, said Senator John Kerry , a leading advocate of the pollution-cutting plan.
Senators Byron Dorgan and Charles Grassley plan to propose an amendment to financial reform legislation requiring the Federal Reserve to disclose the terms and recipients of its loans during the credit crisis.
Interior Secretary Ken Salazar , who promised to be the “new sheriff in town” when he took over the agency that regulates offshore drilling, faces increased scrutiny of his leadership before the explosion at a BP Plc well set off the worst U.S. oil spill.