GOP loves tax reform, in theory. In reality? Not so much
February 26th, 2014
07:56 PM ET
7 months ago

GOP loves tax reform, in theory. In reality? Not so much

Washington (CNN) – Republicans, who have spent years clamoring for tax reform, were much less enthusiastic Wednesday when faced with a sweeping tax overhaul plan in an election year, reticent to discuss whether the proposal from House Ways and Means Chairman Dave Camp, R-Michigan, should even get a vote.

Camp's "Tax Reform Act of 2014" would lower tax rates for most Americans, but presents conservatives with an uncomfortable tradeoff: It raises the tax bill for large banks and the wealthy.

"This is the beginning of the conversation," House Speaker John Boehner told reporters. When asked about the tax increases in the draft, he dismissed the question, answering, "Blah, blah, blah, blah."
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Filed under: Financial Reform • Republicans • Taxes
Obama to discuss financial crisis anniversary Monday
September 14th, 2013
02:11 PM ET
1 year ago

Obama to discuss financial crisis anniversary Monday

WASHINGTON (CNN) - President Barack Obama will deliver remarks in the Rose Garden on Monday to mark the five-year anniversary of the collapse of Lehman Brothers, which triggered a massive, nationwide financial meltdown.

A White House official said Obama would discuss his record on creating jobs during the first five years of his presidency, as well as his administration's continued efforts to bolster hiring. The unemployment rate currently stands at 7.3% - far lower than when Obama took office in January 2009, but still high compared to historic levels.

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Obama renews push for consumer bureau chief
December 1st, 2011
08:30 PM ET
3 years ago

Obama renews push for consumer bureau chief

Washington (CNNMoney) - The Obama Administration is renewing its push for the Senate to confirm a director to run the Consumer Financial Protection Bureau.

"The longer we wait to confirm a director, the more we're leaving millions of Americans who aren't doing business with banks vulnerable to the kind of predation and abuse that caused so much damage in this crisis," said Treasury Secretary Tim Geithner at a press conference Thursday.

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Gingrich fires back at lobbying charge
November 15th, 2011
04:43 PM ET
3 years ago

Gingrich fires back at lobbying charge

(CNN) - Republican presidential candidate Newt Gingrich fired back Tuesday at accusations that he was paid to lobby Republicans on behalf of mortgage giant Freddie Mac.

"I was up there and that's just not true," he told CNN. "I have never lobbied."
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Filed under: 2012 • Financial Reform • Newt Gingrich
October 12th, 2011
09:19 PM ET
3 years ago

Bachmann weighs in on terror plot, financial reform

(CNN) – GOP presidential candidate Michele Bachmann said Tuesday President Barack Obama took his eye off of what she referred to as the No. 1 issue in the Middle East: "Iran obtaining nuclear weapons."

On CNN's "Erin Burnett Outfront," the Minnesota congresswoman also expressed concern over the Democratic-backed financial reform legislation from 2010, arguing it "drives up costs for the consumer, costs to get loans for purchasing a house" and makes it difficult to get loans from a bank.


Filed under: 2012 • Financial Reform • Michele Bachmann
20 senators support Biden's efforts on Planned Parenthood
March 16th, 2011
07:12 PM ET
4 years ago

20 senators support Biden's efforts on Planned Parenthood

Washington (CNN) - Massachusetts Sen. John Kerry, along with 19 other Democratic senators, penned a letter Wednesday in support of Vice President Joe Biden's effort to maintain government subsidies for Planned Parenthood in the final budget negotiations for the 2011 funding bill.

The group said a Republican-led proposal to de-fund the organization would harm the economy.
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July 23rd, 2010
03:00 PM ET
4 years ago

CNN/Opinion Research Poll – July 16-21 – Midterm Elections

TOPICS: Midterm elections, Obama approval rating on issues, opinion of Democrats, Republicans, Tea Party, health care, financial reform

Full results (pdf)


Filed under: 2010 • CNN Poll Archive • Extra • Financial Reform • Health care
July 21st, 2010
07:48 AM ET
4 years ago

Wall Street reform law's starting line

New changes for the financial industry will be effective immediately after President Obama signs legislation this afternoon.
New changes for the financial industry will be effective immediately after President Obama signs legislation this afternoon.

Washington (CNNMoney.com) - As soon as President Obama's name shows up on the Dodd-Frank Wall Street reform law Wednesday, there will be some changes in the way the financial industry does business.

Immediately, regulators will get new powers to take down failing giant financial firms – powers they didn't have in 2008 when the investment firm Lehman Brothers collapsed and threatened the entire financial system.

Other big provisions are closer to a year away, such as forcing complex financial contracts to be traded on open exchanges, and creating new consumer protection rules requiring more disclosure and fewer hidden fees for mortgages and credit cards.

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Filed under: CNNMoney.com • Financial Reform • issues • Wall Street
July 21st, 2010
07:23 AM ET
4 years ago

Obama to sign Wall Street reform bill

ALT TEXT

 President Obama will sign into law Wednesday a sweeping Wall Street reform bill. (PHOTO CREDIT: Getty Images)


Washington (CNN) – President Obama will sign into law Wednesday the Wall Street reform bill - the most-sweeping set of changes to America's financial regulatory system since the 1930s.

The legislation will vastly reform the way big financial firms do business.

This is "reform that will prevent the kind of shadowy deals that led to this crisis, reform that would never again put taxpayers on the hook for Wall Street's mistakes," the president said last week.

The bill aims to strengthen consumer protection, rein in complex financial products and head off more bank bailouts.

The Senate approved the reforms Thursday on a 60 to 39 vote, ending more than a year-long effort to pass legislation in response to the 2008 financial crisis.

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Filed under: Financial Reform • issues • President Obama • Wall Street
July 21st, 2010
07:15 AM ET
4 years ago

Borger: Obama wins on Wall St., loses Main St.

CNN Senior Political Analyst Gloria Borger says with President Obama’s signing of financial reform legislation, he wins on Wall Street but loses on Main Street.
CNN Senior Political Analyst Gloria Borger says with President Obama’s signing of financial reform legislation, he wins on Wall Street but loses on Main Street.

Editor's note: Gloria Borger is a senior political analyst for CNN, appearing regularly on CNN's "The Situation Room," "AC360°" and "State of the Union," as well as participating in special event coverage.

Washington (CNN) - Ask anyone at the White House about the importance of the financial reform bill the president will sign today, and the answer is near-universal: a colossal achievement. And why not?

It's sweeping legislation: creating new consumer protections, making it unattractive for institutions to become "too big to fail," imposing new rules for financial transparency.

And, by the way, it's also a pretty popular idea, in theory at least: 60 percent of Americans say they want to reform Wall Street, according to a recent CNN poll. So it's a no-brainer, right?

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Filed under: Financial Reform • Gloria Borger • issues • President Obama • Wall Street
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