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By Robert Scheer, Christopher Scheer and Lakshmi Chaudhry
By Yalman Onaran
$23.40
$21
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Chairman of the Federal Reserve Ben Bernanke and multibillionaire Warren Buffett spoke to CNN Money about the Occupy Wall Street protests.
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When you sit back and ponder all the ways in which our government’s functionality might be improved, you immediately seize upon the notion that if Fed Chairman Ben Bernanke held news conferences, we’d be that much closer to a true democracy, right?
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Wikimedia Commons
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Responding to the State of the Union is an odd honor. You become the face of the opposition for 10 minutes but you have to immediately follow extraordinary rhetoricians at their chosen sport. House Budget Committee Chairperson Paul Ryan gets the job this year.
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AP / Pablo Martinez Monsivais
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There’s a new sheriff in town for the Republican Party. Ousted Chairman Michael Steele has been replaced by Reince Priebus, former party chief in Wisconsin and a friend of the irascible tea party movement.
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Wikimedia Commons / Steele for Chairman
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A tussle within the Grand Old Party is in prospect. Michigan Republican Saul Anuzis has announced he will challenge Michael Steele, current GOP chairman, in an electoral contest that will determine who will lead the Republicans into the 2012 elections.
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AP / Reed Saxon
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Is the recession over? Will there be another? Much like the famous groundhog from Punxsutawney, Federal Reserve chief Ben Bernanke showed up to offer an eagerly awaited sign—in this case to economists gathered Friday at Jackson Hole, Wyo., and to the world at large ... (continued)
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Wikimedia Commons / U.S. Federal Reserve
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Those out-of-work Americans hoping to hear something encouraging from the general direction of Capitol Hill wouldn’t like what Federal Reserve Chairman Ben Bernanke had to say to Congress on Wednesday.
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Wikimedia Commons / World Economic Forum
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BP’s embattled CEO, Tony Hayward, is stepping out of the limelight after intensifying the company’s PR issues since the Gulf of Mexico oil spill began its relentless spread—and particularly after royally ticking off certain members of Congress last week.
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Wikimedia Commons / U.S. Federal Reserve
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There are economic indicators that we want to be on the high end of the scale, but unemployment isn’t one of them. Unfortunately, according to Federal Reserve Chairman Ben Bernanke, the U.S. unemployment rate ... (continued)
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Wikimedia Commons / U.S. Congress
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Following Rep. Charles Rangel’s announcement Wednesday that he’d no longer head up the House Ways and Means Committee, naturally the nation awaited the revelation of his successor with bated breath ... or not. But either way, Rep. Sander Levin has been picked to take over. Levin’s a Democrat from Michigan, and as The Christian Science Monitor notes ... (continued)
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C-SPAN via YouTube
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Facing ethics investigations on multiple fronts, Rep. Charlie Rangel announced Wednesday that he’s stepping down from his position as chairman of the House Ways and Means Committee. Although Rangel characterized the move as temporary, he might be looking at a longer—i.e., permanent—hiatus.
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AP / Susan Walsh
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Well, it’s good news for Mr. Bernanke, at least: The U.S. stock market did better Monday than it had in the last three days of trading, thanks in part to signs that Federal Reserve Chairman Ben Bernanke’s support in the Senate appeared solid. The sunny quarterly report from Apple Inc.—coming just days before the company was expected to make a major announcement—also helped reverse last week’s slide.
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AP / J. Scott Applewhite
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With unemployment running at 10 percent and Wall Street bankers again pocketing big bonuses, many see Federal Reserve Chairman Ben Bernanke’s priorities as skewed. But absent from those critics is the White House, which believes Bernanke will be reconfirmed for a second term next week.
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Flickr / eflon
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The Fed has nothing to hide about its dealings with AIG when it saved the too-big-to-fail insurance behemoth during the great bailout of 2008-9—or at least Federal Reserve Chairman Ben Bernanke has signaled his full willingness to make the central bank’s relevant “records and personnel” available to investigators from the Government Accountability Office.
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With an eye on this year’s midterm elections and a look back at where the Republican Party might have misstepped in recent months, RNC Chairman Michael Steele dropped in at “Fox & Friends” on Wednesday to discuss the so-called tea party movement. He said the movement’s rise is “a revelatory moment for us” and that the GOP can “crystallize that new foundational support for our principles” in 2010.
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Federal Reserve
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It’s been a good week for Federal Reserve Chairman Ben Bernanke. First came the news that he’d been chosen to be Time magazine’s Person of the Year, and then, on Thursday, the Senate Banking Committee voted to approve his nomination to lead the Fed for another four years.
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quadcitychamber.com
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Those two little words keep popping up amid all the chatter about health care reform, and here they are again, thanks to Sen. Tom Harkin, chair of the Health, Education, Labor and Pensions Committee: “public option.”
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Wikimedia Commons / United States Federal Reserve
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After heading up the Fed during the nation’s biggest economic catastrophe in decades, Federal Reserve Chairman Ben S. Bernanke will be nominated to continue his role for a second term, according to another top Obama adviser, David Axelrod.
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Although he went down insisting that his relationship to Goldman Sachs had been “mischaracterized,” New York Federal Reserve Chairman Stephen Friedman resigned on Thursday after The Wall Street Journal, with a boost from Truthdig, brought up the issue of a potential conflict of interest earlier this week.
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AP photo / Susan Walsh
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The good news: Federal Reserve Chairman Ben Bernanke believes the U.S. economy may show signs of bouncing back before 2010—yay! The bad news: Bernanke also believes that aftershocks from the recession may continue to wreak havoc for a good while to come—sigh.
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AP photo / Nell Redmond
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Kenneth D. Lewis was relieved of the Bank of America chairmanship by shareholders Wednesday in a backlash from the highly criticized Merrill Lynch acquisition. He does, however, retain his two other titles, president and CEO.
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In a rare interview with Ben Bernanke broadcast Sunday on “60 Minutes,” the Federal Reserve chairman allowed himself to sound slightly more optimistic, although ever so cautiously so, about the possibility that the American economy will pull out of recession soon—perhaps, he said, by the end of this year.
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topnews.in
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While he was able to give the banking business a little lift on Tuesday, Federal Reserve Chairman Ben Bernanke also delivered the sobering news that the economy as a whole isn’t likely to make big gains in terms of recovery before 2010 or later.
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AP photo / Richard Drew
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This just in: Not everything is completely awful in the financial arena. Rejoice—stocks went up a little bit! Even if it’s just because Fed Chair Ben Bernanke assured Wall Street that our nation’s banks won’t be nationalized soon, and even if the 2 percent rise happened a day after the Dow dipped to 12-year lows.
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bet.com
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Could this be the Republican Party’s attempted answer to Barack Obama? Or is that too cynical a read on the new appointment of the GOP’s first African-American party chairman, former Maryland Lt. Gov. Michael Steele?
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AP photo / Jim Cole
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The inclusion of a racially charged satirical song about President-elect Barack Obama in a holiday-themed CD compiled by one Chip Saltsman, former Mike Huckabee aide and current candidate for Republican National Committee chair, has drawn sharp criticism from within GOP ranks.
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newsweek.com
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After weeks of deliberation about former Democrat-turned-independent Sen. Joe Lieberman, congressional leaders from his former party came to some conclusions Tuesday about his political future.
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Robert Greenwald’s Brave New Films is making the case that, as the title of its “Lieberman Must Go” video clip suggests, Sen. Joe Lieberman should be taken down a few big notches by the Democratic Party for his actions and assertions during the presidential campaign.
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AP photo / Susan Walsh
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All right, so we’re being a bit facetious with the headline here, but seriously, Sen. Joe Lieberman’s future vis-à-vis his former base at the Democratic Party is a tad uncertain at this time, to say the least.
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group30.org
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Former Federal Reserve Chairman Paul Volcker said Tuesday that the U.S. was already in a recession, despite the efforts of the U.S. government and other nations’ leaders to intervene. “I have seen a lot of crises but I have never seen anything quite like this one,” said Volcker, who headed up the Fed for eight years before Alan Greenspan took over in 1987.
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treehugger.com
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Sen. Ted Stevens of Alaska was indicted Tuesday on seven felony counts in a corruption scandal stemming from some mutual back-scratching he allegedly engaged in with oil service and construction company VECO. The charges against the Republican include secretly accepting renovations to his vacation home in exchange for official favors to VECO.
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www.prezydent.pl
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It’s official: Microsoft’s top-geek-made-good, Bill Gates, is leaving his full-time position as head of Microsoft on Friday. Now that he’s made more money than regular mortals can even fathom (aside from those congresspeople who approve the defense budget), he’s stepping down in order to focus on his philanthropic work with the Bill and Melinda Gates Foundation.
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broadcatching.wordpress.com
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Seems like everything is a crisis these days, what with the subprime mortgage crisis, the oil crisis and, perhaps most troubling of all, the climate change crisis. Former Federal Reserve Chairman Alan Greenspan acknowledged the complexity and interconnectedness of these unsettling trends Tuesday, stopping short of declaring that a major recession is on the way but without ruling out a recession of lesser magnitude.
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AP photo / Lionel Cironneau
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Actor Sean Penn has already made waves at the Cannes Film Festival, where he’s leading this year’s jury, by weighing in about the presidential race back home—and by pointedly bucking the local smoking ban. Suffice it to say that Penn won’t be joining Oprah on one of her pep rallies for Barack Obama anytime soon.
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As gas prices soar across the nation, Exxon’s board paid its recently-retired chairman, Lee R. Raymond, over $686 million since 1993—with $400 million of that coming in his final year with the company.
A compensation payout like that got N.Y. Stock Exchange Chairman Richard Grasso sued.
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Greenland’s Great Melt Is Pinned On Climate Change
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