Senators Accuse Credit Rating Agences of Conflicts
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The lawmakers said they were particularly concerned with a key aspect of the agenciesâ business models: they get paid by the companies whose bonds they rate.
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Senate Democrats on Friday criticized President Bush's plan to add personal accounts to Social Security and accused his administration of improperly using the Social Security Administration to promote the idea.
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For months, securities backed by risky mortgage loans have been in trouble. Now, the credit-rating agencies that once blessed those securities as safe investments are in trouble, too.
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U.S. senators questioned Thursday whether members of the U.S. Federal Communications Commission plan to enforce merger conditions that AT&T Inc. agreed to in its December acquisition of BellSouth Corp.
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Calling for swift reforms in the $85 billion student loan industry, Sen. Edward Kennedy released a report on Tuesday, alleging further instances of marketing misconduct among lenders and universities.
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A multibillion-dollar gap between what public companies book as expenses for their executives' stock options and what they report to the Internal Revenue Service under two sets of rules is costing the Treasury billions of dollars in taxes, a senator seeking to end the discrepancy said yesterday.
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Two senators on Wednesday threatened  to introduce bipartisan legislation that would block the  Federal Communication Commission from easing rules governing  media ownership.
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A bipartisan group of U.S. senators  threatened on Monday to override the Federal Communications  Commission if the agency votes to loosen media ownership  restrictions at a meeting scheduled for Tuesday.
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The Senate minority leader and others criticized the G.O.P. on Iraq, Social Security, healthcare, the budget and taxes.
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Senate and House Democrats attacked the Republican-led National Labor Relations Board at a Congressional hearing on Thursday, saying its recent decisions had favored employers over workers.
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Lawmakers on Tuesday urged the US Securities and Exchange Commission to move to reform the oversight of credit-rating agencies, with one suggesting its power
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A bill introduced in the U.S. Senate this week would require the U.S. Federal Communications Commission to reconsider what bandwidth rates qualify as broadband, a move that won praise from some groups that call current broadband penetration statistics misleading.
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WASHINGTON - The Senate, in an unusual Sunday session, saw its effort to pass a sweeping corporate tax bill grind to a halt in the face of delaying tactics by a Louisiana senator upset that the measure did not include pay support for members of the Reserves and National Guard.    By a 66-14 vote, lawmakers did agree to limit debate on the tax bill, which provides $136 billion in new tax breaks for businesses $10.1 billion to buy out tobacco farmers' government quotas...
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Financial Services Authority failed in its duty to consumers, says treasury select committee
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Senate Majority Leader Harry Reid caused a stir Thursday when he said Gen. Peter Pace failed in his job of providing Congress a candid assessment on the Iraq war and that he was concerned Gen. David Petraeus might be guilty of the same.
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A Senate panel is examining complex billing and interest-rate practices for credit cards that critics say confuse consumers and can push them deeper into debt.
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Fannie Mae&#039;s &#36;11 billion accounting  scandal should drive the Senate to stop delaying and advance  legislation that would overhaul supervision of U.S. mortgage  finance giants, some Republicans on the Senate Banking  Committee argued on Thursday.