AOL News has a new home! The Huffington Post.

Click here to visit the new home of Politics Daily!

Hot on HuffPost:

See More Stories
Politics Daily

credit default swaps

Published: 04/29/10

Debt Secrecy Poisoning Greek and U.S. Economies, Panel Says

By  Mari Fagel - Politics Daily
Debt Secrecy Poisoning Greek and U.S. Economies, Panel Says

Congress must act now to reform America's financial system before the country meets the same fate as Greece, said members of the House Financial Services committee. Greece is currently operating at a 13.6 percent budget deficit, and ratings agencies have dropped the country to junk status. "Unless we change course, I fear America will soon experience its own Greek tragedy," said Rep. Spencer Bachus, R-Ala. The key to avoiding a crisis in America is to create more transparency in credit default swaps markets, according to Rep. Paul Kanjorski, D-Pa. "Some very smart and sophisticated investors ...

Keep Reading »
 48 
Comments
SHARESHARE
Published: 04/19/10

Goldman Gives Democrats Momentum on Reform

By  Joseph Schuman - AOL News
Goldman Gives Democrats Momentum on Reform

(April 19) -- Every good political fight needs a villain. In its push to reform financial regulation, the Obama administration now has one in Goldman Sachs. Three days after the Securities and Exchange Commission accused Goldman of securities fraud linked to the financial crisis, the White House announced Monday that President Barack Obama is taking the offensive to Wall Street's back yard with a speech this week in New York. Obama plans to call for "swift" Senate action on the financial-regulation bill introduced last month. White House spokesman Robert Gibbs said Obama would "remind ...

Keep Reading »
Add Comment
SHARESHARE
Published: 03/9/10

Taming Financial Weapons of Mass Destruction

By  Joseph Schuman - AOL News
Taming Financial Weapons of Mass Destruction

(March 9) -- The campaign to rein in a type of risky investment villainized in the economic crisis and blamed for the government bailout of AIG and the financial collapse of Greece is gaining momentum in Washington and other capitals, where officials are comparing it to piracy of another age. On Tuesday, a key U.S. regulator added his voice to the call for tighter rules and less secretive practices for credit default swaps, while the European Union said it is looking into a ban on the complicated financial instruments that have mushroomed into a multitrillion-dollar market. Mario Tama, Getty ...

Keep Reading »
Add Comment
SHARESHARE
Published: 10/12/09

First Woman to Win Nobel Prize in Economics

By  Joann M. Weiner - Politics Daily
First Woman to Win Nobel Prize in Economics

Nobel prizes are not supposed to be awarded based on gender. Yet, it somehow feels right to acknowledge that a woman won the Nobel Prize in economics for the first time since the award was created in 1969. Her name is Elinor Ostrom and she is a professor of political science at Indiana University at Bloomington. Ostrom, who shared the prize with Oliver Williamson, a professor in the Haas business school at the University of California at Berkeley, was cited for her substantial and influential body of research on the management of common resources. Going against the conventional wisdom that ...

Keep Reading »
Add Comment
SHARESHARE

Follow Politics Daily

  • Comics
%PostTitle%
robert-and-donna-trussell
CHAOS THEORY
Featuring political comics by Robert and Donna TrussellMore>>
  • Woman UP Video
politics daily videos
Weekly Videos
Woman Up, Politics Daily's Online Sunday ShowMore»
politics daily videos
TV Appearances
Showcasing appearances by Politics Daily staff and contributors.More>>

News From Our Partners