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Apr 13, 2011

Senate panel slams Goldman in scathing crisis report

WASHINGTON (Reuters) – In the most damning official U.S. report yet produced on Wall Street’s role in the financial crisis, a Senate panel accused powerhouse Goldman Sachs of misleading clients and manipulating markets, while also condemning greed, weak regulation and conflicts of interest throughout the financial system.

Carl Levin, chairman of the Senate Permanent Subcommittee on Investigations, one of Capitol Hill’s most feared panels, has a history with Goldman Sachs.

Apr 8, 2011

House rejects FCC’s ‘open’ Internet rules

WASHINGTON (Reuters) – The House of Representatives voted on Friday to reject Internet “neutrality” rules that were adopted last year to keep big Internet service providers from blocking certain traffic

House Republicans, in a 240-179 vote, pushed through a measure disapproving the Federal Communications Commission’s rules. Tech and telecom giants such as Verizon Communications Inc and Microsoft Corp could be affected.

Apr 8, 2011

U.S. House votes against FCC ‘open’ Internet rules

WASHINGTON, April 8 (Reuters) – The U.S. House of
Representatives voted on Friday to disapprove Internet
“neutrality” rules that were adopted last year to keep big
Internet providers from blocking certain traffic

House Republicans, winning by a vote of 240 to 179, pushed
through a measure against the U.S. Federal Communications
Commission rule affecting tech and telecom giants ranging from
Verizon Communications Inc (VZ.N: Quote, Profile, Research, Stock Buzz) to Microsoft Corp (MSFT.O: Quote, Profile, Research, Stock Buzz).

Apr 7, 2011

Markets weigh 2 US gov’t shutdowns-1 bad, 1 awful

NEW YORK, April 7 (Reuters) – Investors face two possible
U.S. government shutdown scenarios, one of limited impact on
markets, and another so potentially devastating that analysts
are struggling to assess it fully.

Neither is sure to occur, but the limited-impact version
seemed distinctly possible on Thursday as Democrats and
Republicans argued over the federal budget. It would involve
the expiration at midnight on Friday of a stop-gap spending
measure known as a continuing resolution, or CR.

Apr 6, 2011

Markets weigh two US shutdowns-1 bad, 1 awful

WASHINGTON, April 6 (Reuters) – Investors are facing two
possible U.S. government shutdown scenarios, one of limited
impact on markets, and another so potentially devastating that
analysts are struggling to fully assess it.

Neither is sure to occur, but the limited-impact version
seemed distinctly possible on Wednesday as Democrats and
Republicans argued over the federal budget. It would involve
the expiration at midnight on Friday of a stop-gap spending
measure known as a continuing resolution, or CR.

Mar 31, 2011

Top banker and U.S. regulator offer duelling agendas

WASHINGTON (Reuters) – Jamie Dimon and Elizabeth Warren, both power players in U.S. finance, used a high-profile U.S. Chamber of Commerce platform on Wednesday to advance opposing agendas in the debate over regulation reform.

The two did not cross paths at the forum on capital markets in the chamber’s stately Washington headquarters, situated within view of the White House, but their remarks reflected the intensity that still characterizes the issue.

Mar 30, 2011

JPMorgan’s Dimon slams CFTC on swaps crackdown

WASHINGTON (Reuters) – Jamie Dimon, chief executive of Wall Street giant JPMorgan Chase, lashed out at efforts by U.S. regulators to police the $600 trillion swaps market, in which his bank is a big player.

New regulations being implemented by the U.S. Commodity Futures Trading Commission, mandated under 2010′s Dodd-Frank Wall Street reforms, “would damage America,” Dimon said Wednesday at a U.S. Chamber of Commerce event on capital markets.

Mar 30, 2011

Bearing olive branch, Warren braves U.S. Chamber

WASHINGTON, March 30 (Reuters) – Elizabeth Warren went
before some of her sharpest critics on Wednesday to defend the
independent funding of the U.S. financial consumer watchdog
agency she is setting up for the Obama administration.

At a U.S. Chamber of Commerce event attended by scores of
financial industry lobbyists keen to rein in her agency, Warren
said she is a strong supporter of business competition and that
she believes she has that in common with the chamber.

Mar 28, 2011

Big commodity traders mount last stand on U.S. curbs

WASHINGTON (Reuters) – A global push to damp down wild swings in oil and other commodity prices reached a pivotal point on Monday as big traders mounted their last attack on a U.S. plan to limit the role of speculators.

Many of the world’s biggest commodity market participants such as U.S. agribusiness giant Cargill Inc are resisting new rules that would cap how many futures and related swaps contracts any one company can control.

Mar 27, 2011

On financial regulation, it’s Warren vs. Dimon

WASHINGTON (Reuters) – Elizabeth Warren, the Obama administration’s defender of financial consumers, will venture into the corporate lion’s den this week, along with Jamie Dimon, CEO of banking giant JPMorgan Chase & Co.

The two will be speakers at an event set for Wednesday at the U.S. Chamber of Commerce, the country’s largest business lobbying group, in its Corinthian-columned headquarters situated within view of the White House.