Wall Street

Wall Street dumps Obama, showers Romney with campaign cash

Wall Street dumps Obama, showers Romney with campaign cash

Wall Street, fed up with a barrage of attacks from President Barack Obama, is abandoning the incumbent President and throwing is considerable weight and wealth behind presumptive GOP nominee Mitt Romney. “They have basically ditched Obama,” Center for Public Integrity managing editor John Dunbar told CNN. “Romney is just a much friendlier candidate if you […]

Meet the new boss, not the same as the old boss

Meet the new boss, not the same as the old boss

Overhauling his team at the top, President Barack Obama on Thursday named banker and seasoned political fighter William Daley as his new chief of staff, hoping to rejuvenate both a White House storming into re-election mode and an economy still gasping for help. The choice of Daley immediately brought howls of protest from the left […]

Obama tax deal drives up rates

Obama tax deal drives up rates

What the Federal Reserve giveth, Obama taketh away. The U.S. central bank’s $600 billion stimulus plan was supposed to lower interest rates. But President Barack Obama‘s tax deal with Republicans, by rekindling fears of budget deficits in the bond market, has pushed them higher. As the Fed meets this coming week, the surprise shot in […]

Split Congress could mean more gridlock on Capitol Hill

Split Congress could mean more gridlock on Capitol Hill

Republicans grabbed the steering wheel of the U.S. House of Representatives on Tuesday, but weren’t expected to get out of the driveway when it comes to restraining Wall Street reforms and fixing housing finance. A political standoff lies ahead for two years on key banking and housing issues as election returns showed Democrats losing control […]

Obama faces voter anger, disappointment

Obama faces voter anger, disappointment

President Barack Obama on Monday said times were still tough for many Americans, as he defended his policies during aggressive questioning after the worst U.S. recession since the 1930s was declared over. As audience members at a townhall-style meeting voiced exasperation and disappointment at his administration, and one woman said she was “exhausted” from defending […]

Senate finally passes small business aid bill

Senate finally passes small business aid bill

The Senate passed a long-stalled measure on Thursday that would boost lending to small businesses, giving President Barack Obama’s Democrats one of their last chances before November elections they are working to revive the sluggish economy. The 61 to 38 vote sends the measure back to the House of Representatives, which has passed a similar […]

Feds fudged on mortgage bailout failure numbers

Feds fudged on mortgage bailout failure numbers

The Obama administration on Friday acknowledged it had underestimated the number of homeowners who fell seriously behind on their mortgage payments even after getting government help. Treasury officials blamed the error on mortgage finance giant Fannie Mae, which acts as the program administrator for President Barack Obama’s $50 billion Home Affordable Modification Program (HAMP). The […]

Obama signs Wall Street reform bill

Obama signs Wall Street reform bill

President Barack Obama signed into law on Wednesday the most comprehensive financial regulatory overhaul since the Great Depression, vowing to stop risky behavior on Wall Street that imperiled the U.S. economy. Influential business groups lined up to criticize the new law, underscoring Obama’s uneasy relationship with America’s business community. Some on Wall Street, however, welcomed […]

Financial reform passes House but Senate delays action

Financial reform passes House but Senate delays action

The U.S. House of Representatives on Wednesday approved a landmark overhaul of financial regulations but the Senate put off action until mid-July, delaying a final victory for President Barack Obama. Still, the 237 to 192 vote in the House marked a win for Obama and his fellow Democrats, who have made the most sweeping rewrite […]

Obama’s legislative wins: Too little, too late for Democrats?

Obama’s legislative wins: Too little, too late for Democrats?

Anxious and angry, Americans are not in a congratulatory mood. That’s bad news for President Barack Obama and his Democratic allies. After winning a landmark health care overhaul earlier this year, Obama now stands on the brink of seeing Congress approve the most far-reaching overhaul of Wall Street regulations since the 1930s. Democrats aim to […]