The Wall Street Journal (June 17)
Nationally recognized statistical ratings organizations (NRSROs) may finally be on their way out. The Journal calls it a miracle, giving much credit to Congressman Barney Frank who “is close to eliminating one of the root causes of the financial meltdown of 2008.” Not yet a done deal, it looks as if all requirements to use NRSROs will be eliminated from federal laws and regulations.
Washington Post (May 25)
In London, Paris, Madrid and Athens, governments are moving from fiscal stimulus to spending cuts. But in Washington, “the long-awaited ‘pivot’ to fiscal restraint” remains unseen. Instead, Congress is sneaking new spending into as many places as possible. The Post finds much of this spending wasteful and self-serving.
In London, Paris, Madrid and Athens, governments are moving from fiscal stimulus to spending cuts. But in Washington, “the long-awaited ‘pivot’ to fiscal restraint” remains unseen. Instead, Congress is sneaking new spending into as many places as possible. The Post finds much of this spending wasteful and self-serving.
Tags: Congress, Governments, Stimulus, Washington
New York Times (May 22)
“Weak regulation is a recipe for disaster,” so the New York Times applauds the senate for finally passing a financial regulations bill. The work of Congress is not yet done. The House and the Senate must now work out the differences between their bills. Then, the joint version will require passage by both bodies. During the reconciliation process, revisions should be made to better protect investors, restore confidence in financial markets and avoid another meltdown.
“Weak regulation is a recipe for disaster,” so the New York Times applauds the senate for finally passing a financial regulations bill. The work of Congress is not yet done. The House and the Senate must now work out the differences between their bills. Then, the joint version will require passage by both bodies. During the reconciliation process, revisions should be made to better protect investors, restore confidence in financial markets and avoid another meltdown.
Washington Post (May 19)
In America, climate change legislation took a backseat to health care reform and financial regulation. The Post says that Senators John Kerry and Joseph Lieberman “have provided Congress with an opportunity.” The Post calls their climate bill “imperfect,” but a good start “in the right direction” and urges legislators to seize this opportunity. Waiting to pass a climate bill will simply make global warming more difficult (and expensive) to address.
In America, climate change legislation took a backseat to health care reform and financial regulation. The Post says that Senators John Kerry and Joseph Lieberman “have provided Congress with an opportunity.” The Post calls their climate bill “imperfect,” but a good start “in the right direction” and urges legislators to seize this opportunity. Waiting to pass a climate bill will simply make global warming more difficult (and expensive) to address.
Tags: Climate change, Congress, Global warming, U.S.
The New York Times (May 12)
“What could be worse than a 20-minute, 1,000-point drop in the stock market?” The newspaper answers “a 20-minute, 1,000-point drop that defies explanation.” Neither regulators nor stock exchange officials have been able to identify what caused the “Crash of 2:45.” The New York Times urges Congress to keep looking for answers and strengthen the regulatory framework in light of high-speed automated trading, which now accounts for the majority of trades.
“What could be worse than a 20-minute, 1,000-point drop in the stock market?” The newspaper answers “a 20-minute, 1,000-point drop that defies explanation.” Neither regulators nor stock exchange officials have been able to identify what caused the “Crash of 2:45.” The New York Times urges Congress to keep looking for answers and strengthen the regulatory framework in light of high-speed automated trading, which now accounts for the majority of trades.
Tags: Congress, High-speed trading, Stock market
