Senate Leaders Urge President Obama To Consider ‘Any Lawful Steps’ To Avoid Default

President Obama should consider “any lawful steps,” including action without congressional approval, to raise the federal debt ceiling in order to avoid a repeat of the brinksmanship last seen on the issue in 2011, top Senate Democrats advise. In a letter to the president dated January 11, the Senate Democratic … Continue reading

Protest Group Decries ‘Back-Door Bail-Out’ of Bank of America

A group organizing protests distinct from, but similar in spirit to, Occupy Wall Street is denouncing permission granted by the Obama administration to allow Bank of America’s holding company to transfer risky derivative assets from Merrill Lynch to its federally insured bank. The New Bottom Line — a coalition of … Continue reading