Welch urges Fed to implement “swipe fee” reforms
Welch says this reform benefits the smaller banks by leveling the playing field within the banking industry and more accurately reflecting the higher cost structures of smaller banks.
Sanders seeks more Fed lending details
Bernanke claimed the Fed does not know how much money wealthy private investors gained from an emergency lending program. Several multi-millionaires – including the wife of the CEO of Morgan Stanley (Christy Mack); the former owner of the Miami Dolphins (H. Wayne Huizenga); a multi-billionaire hedge fund manager (John Paulson); and the founder of one of the largest computer companies in America (Michael Dell) – stood to make significant profits or to have the Fed cover 90 percent of any losses they might incur.
Sanders: Fed loaned trillions to financial institutions
Calling the revelations “jaw dropping,” Sen. Bernie Sanders (I-Vt.) said today’s disclosure by the Federal Reserve that it gave banks and other institutions an estimated $3.3 trillion in emergency loans and other assistance during the financial crisis “begins to lift the veil of secrecy at the Fed.”
Sanders Supports Obama on Bank Regulation, faults Fed Chairman for Inaction
WASHINGTON, January 21 – Sen. Bernie Sanders (I-Vt.) issued the following statement today after President Obama proposed tough new restrictions on the size and activities of the nation’s largest financial institutions: “President Obama’s proposal is a major step forward to limit the greed and reckless behavior of Wall Street that has caused so much damage [...]
