In a major concession, the Federal Reserve on Wednesday gave Goldman Sachs Group Inc . two more years to comply with a requirement that it divest part of its derivatives business to a separately capitalized unit. The Fed said Goldman Sachs would have until July, 2015 to comply. Known as the Lincoln Rule, after former Arkansas Democrat Sen. Blanche Lincoln, the measure was set up to have riskier credit derivatives trades take place in a separately capitalized unit so that any trading failure there would not have access to the institution's commercial bank division, which is backed by insured deposits and taxpayers through the Federal Reserve's discount window. Other agencies last month reportedly notified Bank of America Corp. and J.P. Morgan Chase & Co. and other institutions that they would have any additional 24 months to comply with the regulations. In addition, bipartisan bills have started to advance in the House and Senate seeking to transform the provision and allow some commodi...
FBN's Charlie Gasparino argues Wall Street will probably back Obama again in 2012.
Noelle Nikpour, former campaign manager for Rudy Giuliani, argues political backers don't want to waste their money on the midterm elections.
“Right now, we could decide that every American household would receive a tax cut on the first $250,000 of their income…The leaders across the aisle..want to hold th...
Former New York Governor George Pataki breaks down the midterm elections and what will turn the faltering economy around.
By Jasmin MelvinWASHINGTON (Reuters) - Black farmers involved in a decades-old discrimination case are questioning why the Obama administration has promised to haste...
Fmr. Reps Tom Tancredo and Martin Frost weigh in on campaign spending.
FBN’s Jenna Lee previews President Obama’s expected remarks on the progress of the final financial reform bill.
FBN's Ashley Webster on lawmakers reaching a final compromise on the financial reform bill.
FBN's Ashley Webster on how close Congress is to sending a final bill on financial reform to the President.
Lady Lynn Forester de Rothschild on the Super Tuesday winner and whether we’re better off with successful businesswomen in office.
Neil sounds off on the union funds that couldn't bring a win home for the Arkansas senator.
We break down whether the results of Super Tuesday will impact the midterm elections.
Senator Blanche Lincoln says that we need both revenues and spending cuts to fix the federal debt.
Dan Danner, NFIB CEO, on how small businesses will vote in November and how regulations are impacting the entrepreneurial spirit in America.
Former Sen . Blanche Lincoln , (D-Ark.), on the impact of regulations on business.
Former Sen . Blanche Lincoln , (D-Ark.), on the financial impact of regulations on small businesses and their ability to hire.
Senator Blanche Lincoln on bringing balance to Washington.
We take a look at how the WikiLeaks threat and insider-trading probe are impacting the financial sector.
While we keep counting down until the Bush tax cuts expire, there is another concern cropping up in 31 days: the death tax!If Congress does nothing, and raise your h...