Former Federal Reserve chairman Alan Greenspan answered that he had placed his trust in a flawed theory when he was called before Congress to explain why he, Goldman Sachs Treasury Secretary Robert Rubin and Deputy Treasury Secretary Larry Summers, prevented Brooksley Born, head of the Commodity Futures Trading Corporation, a government regulatory agency, from doing her job of regulating over-the-counter derivatives.
Tag Archives: Markets
WASHINGTON – In the evening of May 1, 2011 word began to spread in the nation’s capital that one of the most wanted fugitives in human history had been located and killed by American teams operating in Pakistan. At roughly 11 p.m. tourists, students, and residents on the streets around Capitol Hill began congregating at the White House chanting patriotic slogans and singing the national anthem. Within an hour – during which time the president of the United States addressed the nation and confirmed the news – the crowd had swelled into the thousands.
The following excerpt was taken from The Huffington Post. Click here to read the article in its entirety
WASHINGTON – Most Americans misunderstand the way government actually works in Washington. They blame the White House for every defeat and trumpet it for every victory. In this vein “swing voters” have moved over to the GOP just in time for the November elections. They believe that the Democrats and President Obama are not doing enough to save the economy. This completely ignores the fact that the Republicans are doing everything in their power to clog the political machine.
WASHINGTON – Wall Street suffered a bit of a setback during the trading session yesterday. Despite a bit of a roller coaster during the day, the Dow Jones and S&P 500 were still able to post their best September performance since 1939. Nonetheless, the Dow still did drop 0.44 percent (47.23 points) on the day, followed by a 0.33 percent (7.94 points) fall on the NASDAQ and a 0.31 percent (3.53 points) drop on the S&P.