Sole Fed governor with close ties to conservatives resigns
WASHINGTON — Kevin M. Warsh, who was the Fed’s chief liaison to Wall Street, will resign from the central bank’s board at the end of March, giving President Barack Obama yet another chance to leave his stamp on the Fed.
Financial meltdown was ‘avoidable,’ inquiry concludes
WASHINGTON — The 2008 financial crisis was an “avoidable” disaster caused by widespread failures in government regulation, corporate mismanagement and heedless risk-taking by Wall Street, according to the conclusions of a federal inquiry.
Bernanke to castigate China for continuing its currency games
WASHINGTON — Ben S. Bernanke, the Federal Reserve chairman, plans to argue Friday that a “two-speed global recovery,” with the richest countries lagging behind fast-growing emerging markets like China and India, is hampering the cooperation needed for worldwide economic expansion.
Bernanke to castigate China for continuing its currency games
WASHINGTON — Ben S. Bernanke, the Federal Reserve chairman, plans to argue Friday that a “two-speed global recovery,” with the richest countries lagging behind fast-growing emerging markets like China and India, is hampering the cooperation needed for worldwide economic expansion.
Obama administration lining up allies to pressure China
WASHINGTON — The Obama administration, facing a vexing relationship with China on exchange rates, trade and security issues, is stiffening its approach toward Beijing, seeking allies to confront a newly assertive power that officials now say has little intention of working with the United States.
Some professors say finance reform bill misses point
As Democrats close in on their goal of overhauling the nation’s financial regulations, several prominent experts say that the legislation does not even address the right problems, leaving the financial system vulnerable to another major crisis.
Health reform bill at impasse, Democrats push ahead alone
WASHINGTON — Democrats said on Thursday that they would go it alone in an effort to pass an overhaul of financial regulation, increasing the likelihood of a bitter partisan showdown.
In surprise move, Fed raises key interest rate
WASHINGTON — Taking a step to normalize lending after holding interest rates to extraordinary lows for more than a year to prop up the financial system, the Federal Reserve on Thursday raised the interest rate it charges on short-term loans to banks.
Amid Outcry, Gandhi’s Simple Things Sold for $1.8 Million
More than a decade ago, a Los Angeles filmmaker and peace activist named James Otis began collecting items that represented the ascetic lifestyle of Mohandas K. Gandhi. They were the simple belongings of a man who did not care for possessions: his steel-framed spectacles, a pair of sandals, a bowl, a plate and a pocket watch.