A year ago Thursday, jubilant Democratic lawmakers — including then-Sen. Christopher Dodd and Rep. Barney Frank — joined President Obama on stage as the president signed a new financial reform law."The American people will never again be asked to foot the bill for Wall Street's mistakes.
There's a new cop on the money beat: The Consumer Financial Protection Bureau, and it opens its doors Thursday. It was created by the Dodd-Frank financial overhaul, signed by the president one year ago.The bureau will look out for the financial best interests of American consumers.
Business groups are complaining to lawmakers about taxes in Illinois.The first in a series of hearings on the state's tax structure was held Tuesday in Chicago.Senate President John Cullerton and House Speaker Michael Madigan called for the hearings after major companies, including Caterpillar and t
When troubled media mogul Rupert Murdoch shuttered his News of the World tabloid in the wake of the U.K. phone hacking scandal, he might have hoped it would help end the crisis quickly.But the move only stirred anger in the online world.
Illinois lawmakers are re-examining the state's business tax climate, just six months after raising the corporate income tax rate. The move comes as some corporate giants threaten to move out of Illinois.
Washington may be preoccupied with the debate over whether to raise the debt ceiling and the consequences of a default, but so far at least, the nation's financial markets seem to be taking the prospect in stride.Although politicians from President Obama on down have been predicting for weeks that a