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Bachus Propping Up Primary Campaign With Big Bank Cash
In addition to Presidential primaries in Alabama and Mississippi today, there are primary elections for Congress as well. We saw in Ohio with Jean Schmidt that incumbents are in no way safe in what...
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Corzine Ordered $200 Million Raid on MF Global Customer Accounts
In the most damning evidence thus far of malfeasance at MF Global, Bloomberg reports that former New Jersey Senator and Governor Jon Corzine, while CEO of the company, personally ordered $200 million...
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MF Global CFO Learned of Shortfall in Customer Funds During Firm’s Collapse
At a House Financial Services Committee hearing today, former MF Global CFO Christine Serwinski will testify that customer funds were used to cover proprietary bets. In testimony prepared for a...
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Frank, Miller Try to Open Up Accountability for Fed, OCC
Barney Frank and Brad Miller tried to shake up a House Financial Services Committee hearing yesterday. As per usual, Republicans wanted to go after the CFPB’s funding and subject it to the...
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Waters Challenges Khuzami on Securitization Fraud Task Force, Gets Revealing...
I don’t know how House Democrats managed to get a hearing in the Financial Services Committee on the SEC’s tendency to settle with financial firms and allowing the companies to get off without...
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Geithner Raked Over the Coals in House Committee About Libor
Tim Geithner is testifying before the House Financial Services Committee on a number of issues today. It looked like he would skate by without questions on the Libor scandal until Scott Garrett, an...
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Randy Neugebauer Angry that CFPB is Compensating Their Employees Decently
Rep. Randy Neugebauer (R-TX), who chairs the House Subcommittee on Oversight and Investigations in the House Financial Services committee, writes up a hatchet job on the Consumer Financial Protection...
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Waters Cleared in Long-Running Ethics Case
The House Ethics Committee has cleared Maxine Waters of wrongdoing in a celebrated but thin case over whether she improperly set up a meeting between the Treasury Department and a troubled bank in...
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Maxine Waters Easily Attains Ranking Democratic Spot on House Financial Services
Rep. Maxine Waters (D-CA) On both sides of the Capitol, there was news on the committee that holds oversight responsibilities over Wall Street today. In addition to Elizabeth Warren getting her spot on...
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House Moves To Gut Derivatives Regulations Again
Noted Wall Street ski buddy and House Financial Services Chairman Jeb Hensarling is moving to re-deregulate derivatives by gutting the Dodd-Frank Act. Apparently one financial crisis this century is...
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