For years, President Obama has been clear about his preferred tax policy: Tax the rich more and protect households that make less than $250,000 from higher taxes.
It’s not clear what he’ll say about taxes on Wednesday when he lays out his ideas for how to tackle the country’s long-term debt. If history holds, he’ll stick [...]
Posts Tagged ‘taxpayers’
TAX THE RICH! OK, BUT THEN WHAT?
April 12th, 2011 by Financial Writer
Tags: 2012, AIG, au, ben, bipartisan, Debt, deficit, economic, economically, economy, fed, household, households, increase, Invest, investment, lawmakers, money, mortgage, obama, president, rate, spending, taxpayers, ubs, us
more...Kotlikoff: How to Fix the Mortgage Mess
January 17th, 2011 by Financial Writer
Fannie Mae and Freddie Mac. What cute-sounding names. They suggest adorable siblings, not twin financial disasters that may cost $1 trillion when we get the final bill.
According to Edward Pinto, Fannie Mae’s former chief credit officer, in 2008 the two government-supported mortgage finance companies, along with the Federal Housing Administration [...]
Tags: au, bank, banks, borrow, borrowers, borrowing, business, buyers, Debt, economic, economics, fannie Mae, fed, finance, financial, freddie Mac, glo, Global Financial, government, home prices, housing, interest rate, Invest, investment, investor, investors, lender, lenders, loan, loans, money, mortgage, mortgage applications, mortgage finance, mortgage market, mortgages, oil, president, rate, stock, subprime mortgages, taxpayers, ubs, us, wall street
Former auto czar pays $10 million fine
December 30th, 2010 by Financial Writer
Quadrangle investment group founding partner and former Obama “auto czar” Steven Rattner agreed Thursday to pay a $10 million fine in a settlement with the New York attorney general’s office over a pension fund scheme.
Rattner was accused of a “pay-to-play” scheme involving New York’s pension fund, in which Rattner’s Quadrangle allegedly gave kickbacks to officials [...]
Tags: au, crisis, financial, financial crisis, government, Invest, investment, money, new york, obama, obama administration, rate, Retirees, taxpayers, us
Hoenig: Big banks may still threaten their smaller rivals
August 23rd, 2010 by Financial Writer
Despite Dodd-Frank Act, community banks face ‘higher costs of capital’: Hoenig
Over 6,500 U.S. community banks may continue to face “higher costs of capital” than their big bank rivals even after a sweeping bank reform law has sought to end the ‘too-big-to-fail’ perception, Federal Reserve Bank of Kansas City President Thomas Hoenig said Monday.
“Because the market [...]
Tags: banking sector, big banks, Capital economics, Federal Reserve, financial institutions, investors, recession, taxpayers
Imports slow second-quarter growth
July 31st, 2010 by Financial Writer
Economic growth slowed in the second quarter as a capital investment drive by businesses sucked in imports at the fastest pace since the first quarter of 1984.
Gross domestic product expanded at a 2.4 percent annual rate, the Commerce Department said in its first estimate on Friday, after an upwardly revised 3.7 percent growth pace in [...]
Tags: business investment, businesses, commerce department, economic growth, financial crisis, financial system, taxpayers, unemployment rate, us stocks
Holding Bankers’ Feet to the Fire
July 18th, 2010 by Financial Writer
KUDOS to the Federal Housing Finance Agency, overseer of Fannie Mae and Freddie Mac, the crippled mortgage finance giants. While some in Washington have continued to coddle the big banks even after they drove our economy into the ditch, this agency seems serious about recovering money for taxpayers by holding bad financial actors to account.
The [...]
Tags: banks, business, economy recovery, fannie Mae, financial markets, financial system, freddie Mac, Global Economy, investors, mortgage finance, taxpayers, us economic, us stocks, wall street
Bailed-out small US banks face takeover risk -panel
July 14th, 2010 by Financial Writer
Smaller banks that got U.S. government bailout money are likely to run into trouble repaying it and may become vulnerable to takeovers as a result, a congressional watchdog agency warned on Wednesday.
In its latest critique of the Treasury Department’s handling of the Troubled Asset Relief Program, or TARP, the Congressional Oversight Panel said smaller banks [...]
Tags: banks, commercial real estate, economic, financial crisis, real estate investment, taxpayers, us, us economic, us government, us treasury, wall street