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Aug 18, 2010

Obama seeks new design for housing, Fannie/Freddie

WASHINGTON (Reuters) – The U.S. government’s role in housing finance should undergo “fundamental change,” but it should still provide some guarantees in the mortgage market, Treasury Secretary Timothy Geithner said on Tuesday.

Setting the stage for what promises to be a long debate about fixing Fannie Mae and Freddie Mac, Geithner convened a conference of housing industry leaders and heard a range of ideas about reforms for the $10.7 trillion mortgage market.

Aug 17, 2010

No quick fix for Fannie and Freddie seen from meeting

WASHINGTON (Reuters) – The Obama administration will pick the brains of housing finance leaders on Tuesday on how to fix Fannie Mae and Freddie Mac, but no major changes in the government-rescued mortgage companies are expected before 2011.

Treasury Secretary Timothy Geithner will host a conference as the administration works to make good on its promise to unveil an overhaul plan by January for the troubled firms, now under government control.

Jul 20, 2010

Global effort needed on bank capital: U.S. officials

WASHINGTON (Reuters) – Global cooperation will be crucial to hardening world banks’ capital armor along the lines backed by Congress and the Obama administration, senior U.S. regulators said on Tuesday.

As standard-setters in Switzerland hammer away at a new set of worldwide bank capital standards, U.S. Treasury Department official Lael Brainard said, “Capital rules must be harmonized internationally to be effective domestically.”

Jul 16, 2010

White House eyes Warren for new consumer watchdog

WASHINGTON (Reuters) – Elizabeth Warren, an outspoken consumer rights advocate feared by Wall Street, is among top contenders to head a new financial consumer watchdog bureau, a senior White House adviser said on Friday.

“There are other candidates as well. But Elizabeth is certainly a candidate to lead it,” adviser David Axelrod told reporters on a conference call, calling Warren a “great champion of middle-class consumers.”

Jul 16, 2010

W.House eyes Warren for new U.S. consumer watchdog

WASHINGTON, July 16 (Reuters) – Elizabeth Warren, an
outspoken consumer rights advocate feared by Wall Street, is
among top contenders to head a new financial consumer watchdog
bureau, a senior White House adviser said on Friday.

“There are other candidates as well. But Elizabeth is
certainly a candidate to lead it,” adviser David Axelrod told
reporters on a conference call, calling Warren a “great
champion of middle-class consumers.”

Jul 16, 2010

Wounded Dodd guided Wall St reform to victory

WASHINGTON (Reuters) – For Senator Christopher Dodd, approval of the Wall Street reform bill that he co-wrote closes out two turbulent years of remarkable legislative success — an accomplishment often eclipsed by a career-ending political crisis.

The senior Connecticut Democrat will retire in several months after 30 years in national politics. Facing weak poll numbers and a wave of voter disenchantment with incumbents, Dodd decided months ago not to seek reelection.

Jul 16, 2010

Wounded Sen. Dodd guided Wall St reform to victory

WASHINGTON, July 16 (Reuters) – For Senator Christopher
Dodd, approval of the Wall Street reform bill that he co-wrote
closes out two turbulent years of remarkable legislative
success — an accomplishment often eclipsed by a career-ending
political crisis.

The senior Connecticut Democrat will retire in several
months after 30 years in national politics. Facing weak poll
numbers and a wave of voter disenchantment with incumbents,
Dodd decided months ago not to seek reelection.

Jul 16, 2010

Wall Street reform clears Congress

WASHINGTON (Reuters) – The Congress on Thursday approved the broadest overhaul of financial rules since the Great Depression and sent it to President Barack Obama to sign into law.

By a vote of 60 to 39, the Senate passed a sweeping measure that tightens regulations across the financial industry in an effort to avoid a repeat of the 2007-2009 financial crisis.

Jul 15, 2010

Wall St reform clears Congress, goes to Obama

WASHINGTON, July 15 (Reuters) – The U.S. Congress on
Thursday approved the broadest overhaul of financial rules
since the Great Depression and sent it to President Barack
Obama to sign into law.

By a vote of 60 to 39, the Senate passed a sweeping measure
that tightens regulations across the financial industry in an
effort to avoid a repeat of the 2007-2009 financial crisis.

Jul 15, 2010

Wall St reform passes, goes to Obama for signing

WASHINGTON (Reuters) – The U.S. Congress on Thursday approved the broadest overhaul of financial rules since the Great Depression and sent it to President Barack Obama to sign into law.

By a vote of 60 to 39, the Senate gave final approval to a sweeping measure that tightens regulations across the financial industry in an effort to avoid a repeat of the 2007-2009 financial crisis.