President Barack Obama vowed in his State of the Union address on Wednesday to make job creation his top priorityThe US economy is forecast to have gathered steam in the final three months of last year, helped by a gradual revival of the housing market.Wall Street analysts expect growth to have picked up to 4.6% [...]
Embattled Federal Reserve Chairman Ben Bernanke won confirmation for a second term Thursday, but only by the closest vote ever for the crucial post and after withering criticism from lawmakers for bailing out Wall Street while other Americans suffer…
• Campaign tour to give details of economic plan• Allies welcome fresh focus on boosting employmentBarack Obama flew out of Washington today on the first leg of a campaign to sell to disenchanted voters the job creation programme he set out in his state of the union address.Obama used Wednesday’s speech to mark a significant [...]
Prolific novelist who took the world of the New York wealthy as his subjectIn his two careers, as a lawyer and a novelist, Louis Auchincloss, who has died aged 92, spent a lifetime exploring the American ruling class and its money – how it was made, inherited, spent and lost. Born in New York, Auchincloss grew up in [...]
The news is out: The Wall Street bankers we bailed out are giving themselves 2009 cash bonuses of a half million dollars on average — not including stocks.
If Ben Bernanke is approved for a second term as chair of the Federal Reserve Board, the decision will ignore his key mistakesThe US Senate’s decision on approving Ben Bernanke for a second term as chair of the Federal Reserve Board is coming down to the wire and the Wall Street crew is once again [...]
Well-funded and influential lobby operation will argue that better regulation will be enough to solve problemsBanks are mobilising a smooth-running lobbying machine in Washington to battle Barack Obama’s plans to limit the size and scope of Wall Street institutions, as financial services firms gear up to stop a shake-up that could slice away large chunks [...]
PM believes US move indicates willingness in Washington to contemplate radical reform of marketsGordon Brown plans to exploit Barack Obama’s surprise crackdown on Wall Street banks to step up Britain’s campaign for a new global transaction tax on financial products.The prime minister believes the dramatic US move to curb risky activities by major US banks [...]
Obama’s criticism of Wall Street’s ‘binge of irresponsibility’ applies equally to the City – they both need reformIt has taken a year but Barack Obama has finally got it. Wall Street is to be cut down to size. The White House will take on big finance’s army of lobbyists. Banks stuffed full of US taxpayer [...]
Days of excess numbered as president proposes strict restrictions, including anti-hedge fund ‘Volcker rule’An era of high rolling at the Wall Street casino will shortly come to an end if Barack Obama gets his way. The US president has delivered his biggest broadside yet against the financial industry’s excesses and is proposing the strictest restrictions [...]