NEW YORK (CNNMoney.com) -- The Federal Reserve made it clear Thursday that the hike in its emergency lending rate won't mean a thing for the interest rates paid by consumers and businesses any time soon. Now, the debate is whether it was right to make that promise. There are plenty of expert... Read more...
For U.S. Representative Ron Paul, the ninth time may be the charm. After fighting for decades to increase scrutiny of the Federal Reserve or abolish it, the Texas Republican’s proposal requiring audits of the central bank’s interest-rate decisions is getting traction. The long-shot 2008 pres... Read more...
Last week, in the name of protecting the little guy from Wall Street, the House passed HR 4173 to increase the little guy’s false sense of security in the financial system. This mammoth piece of legislation would massively increase government regulation and oversight in the banking industry unde... Read more...
Fed Chairman Ben Bernanke's warning that further regulation would "impair" the economy is a "hoax," according to Rep. Ron Paul (R-Texas). Responding to Bernanke's op-ed in The Washington Post this past weekend, in which the Federal Reserve chairman said that Paul's bill to audit the Fed would har... Read more...
NEW YORK (CNNMoney.com) -- AIG announced Tuesday that it completed a deal wiping out $25 billion of its debt to taxpayers by selling stakes in two subsidiaries to the Federal Reserve Bank of New York. The troubled insurer gave the New York Fed preferred shares of two of its international life ins... Read more...
WASHINGTON (CNNMoney.com) -- The Federal Reserve on Thursday released a new rule to prohibit banks from automatically enrolling customers in overdraft protection programs, which charge fees when consumers spend more than they have. Starting on July 1, 2010, all banks will have to ask their... Read more...
I knew I should've voted for Ron Paul. lol NOVEMBER 22ND.. (more…) Read more...