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Sam Knight - page 38

Sam Knight has 859 articles published.

St. Louis Fed President: Another Interest Rate Hike “May Not Be Far Off,” Despite Global Instability

Another tightening of credit markets is just around the corner, according to Federal Reserve Bank of St. Louis President James Bullard. Bullard said Thursday that the Fed is likely to soon hike interest rates for the second time in months, despite signaling last week that it had grown more concerned about global economic developments. “The relatively minor downgrades… suggest that the next rate increase may not be far off provided that the economy evolves as expected,” Bullard said. On March 16, the Fed announced after a… Keep Reading

Obamacare Oversight of Hospitals Saved 87,000 Lives, Top Dem Claims

If Republicans are hoping to make libertarian-minded opposition to healthcare reform a central part of their election campaign this fall, they’re going to have to go up against a lot of people who are reportedly alive because of a Big Government intrusion. In celebrating the sixth anniversary of the Affordable Care Act coming into law, a leading House Democrat touted a study that claims increased oversight of hospitals has saved tens of thousands of lives. “The Affordable Care Act also is improving the quality of care,”… Keep Reading

Social Security Admin Admits it Wronged Gay Couples after Landmark Marriage Equality Decision

The Social Security Administration (SSA) is working to correct errors that caused same sex couples grief over the past few years, just as they started to achieve equality under the law. The administrator said this month that it is no longer asking married gay Americans to repay benefits that deemed them single. The payments were systematically and mistakenly issued by SSA after the Supreme Court in 2013 struck down the Defense of Marriage Act, a law that prohibited the US government from recognizing same sex… Keep Reading

Congress Setting Up Last Minute Puerto Rico Debt Crisis Response

As a non-state, Puerto Rico faces a unique set of laws exacerbating its $72 billion debt crisis. But Congress won’t even consider reforms or a rescue package for the troubled territory until just weeks before it looks set to miss significant debt payments. Treasury Secretary Jack Lew warned on Tuesday that Puerto Rico will likely miss “big payments due in May and July.” The same day, House Speaker Paul Ryan (R-Wis.) said that a bill to assist the island will not even be taken up… Keep Reading

“Around the World” Fight against Terrorism Urged by Administration After Brussels Bombings

The terrorist attacks carried out in Brussels on Tuesday bolstered calls from the administration to confront the Islamic State (ISIL) throughout the world. Defense Secretary Ash Carter told the House Armed Services Committee hours after the killings that the United States’ counter-ISIL strategy needs to look beyond Iraq and Syria. “If we can expel ISIL from Raqqa and Mosul, that will show that there’s no such thing as an Islamic State based upon this ideology,” Carter said, referring to the largest cities held by ISIL. “We also… Keep Reading

In 6-2 Vote, SCOTUS Rejects Challenge to Colorado Marijuana Legalization

The Supreme Court dealt a blow on Monday to the War on Drugs when it voted 6-2 against considering a challenge to Colorado’s legalization of cannabis. Nebraska and Oklahoma had asked the court to declare unconstitutional the state’s move to permit the recreational use of marijuana. Only Clarence Thomas and Samuel Alito believed that the Justices should have heard the case. “Whatever the merit of the plaintiff States’ claims, we should let this complaint proceed further rather than denying leave without so much as a word of… Keep Reading

Still Unsure if Goldman Sachs is “Too Big to Fail,” Fed Allows Giant to Acquire $17 Billion in GE Capital Assets

The Federal Reserve might not yet be certain if Goldman Sachs is “too big to fail,” but it believes the notorious behemoth isn’t too big to acquire other banks. Goldman’s purchase of $17 billion in deposits from GE Capital Bank was approved on Monday by the Fed. The deal had been in the works since last August. Fed officials noted that public comments filed in response to the proposed merger charged that Goldman “should not be allowed to increase in size and complexity, arguing that… Keep Reading

Technocratic All-Star Not Likely to Convince Republicans to Drop SCOTUS Obstructionism

After meeting with President Obama’s choice to replace Antonin Scalia, the top Democrat on the Senate Judiciary Committee touted the nominee as “non-controversial” and eminently capable. Sen. Patrick Leahy (D-Vt.) said that under regular order, Merrick Garland would fly through the Supreme Court nomination process by the end of Spring. But with most Senate Republicans banding together to call for a replacement to only be considered after the November election, Leahy suggested this is highly unlikely. “If we followed our normal routine, we could easily… Keep Reading

Congressman to Rick Snyder: “You Didn’t Go to Flint For Seven Months”

Gov. Rick Snyder (R-Mich.) didn’t visit Flint for more than half a year after the city’s mayor first informed him it was in the midst of a severe water crisis, a Democratic congressman said Thursday. Rep. Gerry Connolly (D-Va.) blasted Snyder, saying he shirked unique responsibility for the widespread lead-poisoning in Flint, given Snyder’s championing of a law that had put wide-reaching municipal powers into his administration’s hands. “This is a failure of a philosophy of governance you advocated,” Connolly told Snyder at a House… Keep Reading

Financial Industry Allies “Preempt” C.F.P.B. Payday Lending Fight

Conservatives are assailing a rule on payday lending currently being formulated by the Obama administration as an attack on states’ rights. Right-wing members of the House Financial Services Committee accused the Consumer Financial Protection Bureau of trying to “preempt” state law, in its impending regulatory initiative focusing on short-term loans. Bureau Director Richard Cordray told the committee on Wednesday that a rule will be coming in the Spring, but that it wouldn’t be based on preemption. He said it will be focused on setting minimum standards… Keep Reading

National Backlash Against Money in Politics Complicates Routine S.E.C. Nominations

A bipartisan effort to pair two Securities and Exchange Commission nominees might get the thumbs down from Democrats on the Senate Banking Committee. Sens. Chuck Schumer (D-N.Y.) and Bob Menendez (D-N.J) said Tuesday they would consider voting against both picks due to the nominees’ skepticism of an initiative that would force companies to disclose campaign contributions. “I’m not satisfied with either answer. I’m putting you folks on notice,” Schumer told Lisa Fairfax and Hester Maria Peirce at their confirmation hearing. The former is a Democratic nominee; the… Keep Reading

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