Senate Banking, Housing, and Urban Affairs Committee hearing entitled Turmoil in U.S. Credit Markets: Recent Actions Regarding Government Sponsored Entities, Investment Banks and Other Financial Institutions, September 23, 2008 A Summary of Chairman Dodd’s proposal in response to the Treasury Department’s plan Full text of the draft legislation: To provide authority for the Federal Government… Continue Reading
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Monthly Archives: September 2008
Board announces the approval of a policy statement on equity investments in banks and bank holding companies
“The Federal Reserve Board on Monday announced the approval of a policy statement on equity investments in banks and bank holding companies. The policy statement provides additional guidance on the Board’s position on minority equity investments in banks and bank holding companies that generally do not constitute “control” for purposes of the Bank Holding Company… Continue Reading
New GAO Reports: Combating Nuclear Smuggling, NATO Enlargement, Secure Border Initiative
Combating Nuclear Smuggling: DHS’s Program to Procure and Deploy Advanced Radiation Detection Portal Monitors Is Likely to Exceed the Department’s Previous Cost Estimates, GAO-08-1108R, September 22, 2008 Information Technology: Treasury Needs to Better Define and Implement Its Earned Value Management Policy, GAO-08-951, September 22, 2008 NATO Enlargement: Reports on Albania and Croatia Respond to Senate… Continue Reading
Court Orders VP Cheney to Preserve Documents in Citizens Group Lawsuit
Follow up on postings related to the White House visitor logs, this news release: “U.S. District Court Judge Colleen Kollar-Kotelly issued a preliminary injunction in CREW, et al. v. Cheney et al., requiring Vice President Cheney, the Office of the Vice President, the Executive Office of the President, that archivist and the National Archives and… Continue Reading
Morgan Stanley Granted Federal Bank Holding Company Status By U.S. Federal Reserve Board of Governors
News release: “Morgan Stanley today announced that its application to become a bank holding company was approved by the U.S. Federal Reserve Board of Governors. Morgan Stanley has elected to be deemed a financial holding company under the Bank Holding Company Act. Morgan Stanley sought this new status from the Federal Reserve to provide the… Continue Reading
Goldman Sachs To Become The Fourth Largest Bank Holding Company
News release: “The Goldman Sachs Group, Inc. (NYSE: GS) today announced that it will become the fourth largest Bank Holding Company and will be regulated by the Federal Reserve. In recent weeks, particularly in view of market developments, Goldman Sachs has discussed with the Federal Reserve our intention to be regulated as a Bank Holding… Continue Reading
Federal Reserve Board Approves Applications of Goldman Sachs and Morgan Stanley to Become Bank Holding Companies
News release: The Federal Reserve Board on Sunday approved, pending a statutory five-day antitrust waiting period, the applications of Goldman Sachs and Morgan Stanley to become bank holding companies. To provide increased liquidity support to these firms as they transition to managing their funding within a bank holding company structure, the Federal Reserve Board authorized… Continue Reading
Pelosi Statement on Legislation to Address Crisis in Financial Markets
“Speaker Pelosi issued the following statement today as Congress and the White House work to craft legislation to address the crisis in our financial markets: Congress will respond to the financial markets crisis by taking action this week in a bipartisan manner that will protect the taxpayers interests. The Administrations $700 billion proposal does not… Continue Reading
Treasury Provides Further Clarity For Guaranty Program for Money Market Funds
News release: “The U.S. Treasury Department is continuing to develop the specific details surrounding the temporary guaranty program for money market funds that was announced on September 19, 2008. While these details are being finalized, Treasury is making the following clarifications…” Related postings on financial system Continue Reading
SEC Approves Amended Order Requiring Reporting of Short Positions by Certain Investment Managers
News release: “The U.S. Securities and Exchange Commission today approved amendments to its emergency order of September 18 (Release No. 58591) requiring that certain institutional money managers report their new short sales of certain publicly traded securities. In addition to making technical amendments, the revised order also provides that the information disclosed by investment managers… Continue Reading
New DHS Immigration Statistics Reports
Estimates of the Unauthorized Immigrant Population Residing in the United States: January 2007 (PDF – 7 pages): “This report provides estimates of the unauthorized immigrant population residing in the United States as of January 2007 for periods of entry and leading countries of birth and states of residence. Nonimmigrant Admissions to the United States: 2007… Continue Reading
Report: Global Water Futures – A Roadmap for Future U.S. Policy
Center for Strategic and International Studies: Global Water Futures – A Roadmap for Future U.S. Policy, by Erik R. Peterson and Rachel Posner “U.S. policies on the range of pressing international water-related issueshumanitarian relief, human health, economic development, environmental stewardship, and stability and securityare fragmented, underresourced, and insufficiently coordinated. In particular, both the U.S. governments… Continue Reading
