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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: Federal government

Federal government stories: 34 news summaries

1 - 20 of 34 Stories | 1 2 Next >>

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$250K APIECE

Bonuses at Morgan Stanley, JPMorgan, Goldman Hit $30B

Average payout will be five times median household income in US

Nov 9, 09 4:55 AM CST
(Newser) - Recession? What recession? Some Wall Street firms are not feeling any pain this year as record bonuses at just three of the top firms are likely to hit an eye-popping $30 billion. Goldman Sachs, Morgan Stanley and JPMorgan Chase, the three biggest banks to be bailed out by the feds,... More »

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executive compensation • Goldman Sachs • Morgan Stanley • bonuses • compensation • Federal government • bailout • JPMorgan Chase • executives • Wall Street bailout • TARP

PEGGY NOONAN

 'Stupid' Leadership 
 Has Sapped 
 America's Hope 

Business is losing faith as government spends like spoiled kids

Oct 30, 09 3:00 AM CDT
(Newser) - The economy's growing again but the people Peggy Noonan talks to—"the American leadership class who are not in Washington, most especially those in business"—have lost their confidence that a turnaround is coming. That's because they don't think the government has any solutions to America's problems other... More »

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government spending • Federal government • Peggy Noonan • Obama administration • taxation

 29-Year-Old SEC Honcho 
 Came From Goldman 

New COO Adam Storch did 'business intelligence' at connected Wall Street bank

Oct 16, 09 2:08 PM CDT
(Newser) - The first person named to the new chief operating officer position in the SEC’s enforcement division is a 29-year-old whiz kid who previously worked at uber-connected Goldman Sachs, Bloomberg reports. "Adam’s skill in technology systems, workflow process, and project management will greatly benefit the division," his... More »

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fraud • Goldman Sachs • Bill Clinton • SEC • Federal government • COO • regulator • Securities and Exchange Commission • Adam Storch • chief operating officer • enforcement • Robert Khuzami

noonan to obama:

Enough Already! Stop Trying to Grow Government

We're already too crowded with social problems; no room left

Oct 16, 09 3:45 AM CDT
(Newser) - The Obama administration hasn't just misjudged the national mood by trying to push through health care reform in the middle of a recession, it's misjudged the whole era we're living in, writes Peggy Noonan. This isn't the '30s, when income tax was new and the federal government was still lean,... More »

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health care reform • Max Baucus • budget deficit • Federal government • Peggy Noonan • Obama administration • Paul Ryan

OPINION

Mr. President, Stop Picking On 'Bureaucrats'

What happened to making government 'cool' again?

Sep 12, 09 12:55 PM CDT
(Newser) - In his admirable quest to make government work for the people, President Obama has stooped to the lowest common denominator and vilified “bureaucrats,” writes Max Stier in the Washington Post. A typical shot from the president recently: “I don't want government bureaucrats meddling in your health... More »

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Medicare • health care reform • Social Security • Federal government • President Obama • bureaucrats • government workers • moniker • derision

 Help Wanted: 
 Fed Govt. 
 Needs 600K 
 New Workers 

270K new hires deemed critical to make up for retirement

Sep 3, 09 11:30 AM CDT
(Newser) - The federal government must hire 600,000 people over the next 4 years to balance a wave of retirement and keep pace with President Obama’s ambitions, the Washington Post reports. Nearly half of those positions are considered absolutely essential for agencies to provide their services, a new report states,... More »

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Barack Obama • government spending • employment • bureaucracy • Department of Homeland Security • Federal government • job • Obama administration • President Obama • hiring

(Newser) - General Motors will start making temporary loans to dealers who have yet to be reimbursed by the federal government under the Cash for Clunkers plan, the Wall Street Journal reports. Dealers, some now irate, essentially did the same thing for customers participating in the trade-in plan—covering the government... More »

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General Motors • auto industry • loan • car dealers • Federal government • automobile • reimbursement • Cash for Clunkers • Car Allowance Rebate System • cash advance

(Newser) - The SEC today simultaneously announced a complaint against former AIG chief Hank Greenberg and the resolution of the matter—a $15 million payment to settle the suit, the New York Times reports. Greenberg and a former AIG CFO were accused of “numerous improper accounting transactions” between 2000 and... More »

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insurance companies • accounting • AIG • Hank Greenberg • settlement • Federal government • Securities and Exchange Commission

(Newser) - US tax revenue is set to shrink 18% from last fiscal year to the current one, ending in October—the largest falloff since 1932, the AP reports. Individual income-tax receipts are off 22%, and corporate revenues have sunk an astounding 57%. “Our tax system is already inadequate to support... More »

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IRS • recession • Social Security • Internal Revenue Service • federal income tax • Federal government • tax revenue • Great Depression • financial crisis • economic downturn

(Newser) - The Government Accountability Office has put the struggling US Postal Service on its list of “high-risk” federal programs, the Hill reports. The federal watchdog says the USPS will lose $7 billion this year, and that even the end of the recession will not return business that has migrated to... More »

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Congress • mail • deficit • Government Accountability Office • USPS • Federal government • US Postal Service

(Newser) - President Obama has big plans for the economy, and that’s too bad because he knows nothing about it, Fred Barnes writes in the Weekly Standard. All of his proposals and angry jabs at Wall Street are counter to his professed interest in growth and job creation. “Obamanomics... More »

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economics • recession • Federal government • economy • Obama administration • financial crisis • President Obama • economic downturn • Fred Barnes

(Newser) - The government’s Car Allowance Rebate System—the “Cash for Clunkers” plan—goes into effect today, but it might not be such a good deal for you or the environment, Elisabeth Leamy and Nathalie Tadena write for ABC News. New-car buyers who trade up more than 4mpg in mileage... More »

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environment • auto industry • Federal government • used cars • gas mileage • Cash for Clunkers • Car Allowance Rebate System • new car

 Feds Reject Plea 
 for Calif. Bailout 

Aid ruled out for now as state warns of fiscal meltdown

Jun 16, 09 6:09 AM CDT
(Newser) - The federal government has rejected pleas for emergency aid from top California officials, reports the Washington Post. State officials warn that its budget crisis is approaching the point of a "fiscal meltdown" that will cause massive cuts and deepen the state's recession. But the Obama administration fears bailing out... More »

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California • budget • budget deficit • Federal government • bailout • state budgets

Obama Orders Review of Government Secrecy

President creates task force to overhaul declassification policy

May 28, 09 1:50 AM CDT
(Newser) - President Obama has ordered a sweeping review of the government's secrecy policy, the Washington Post reports. Obama sent a memo to government officials reaffirming his administration's commitment "to operating with an unprecedented level of openness," and directed his national security adviser  to review how classified information is handled... More »

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secrecy • classified information • Federal government • Janet Napolitano • Eric Holder • Obama administration • President Obama

(Newser) - Texas Gov. Rick Perry’s stand against the intrusion of federal power on states’ rights is straight from an 1832 playbook, Ed Kilgore writes for the Democratic Strategist. And the argument John C. Calhoun made then is still wrong. Miffed that the GOP is out of power, Kilgore writes, Perry... More »

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Texas • Rick Perry • secession • Federal government • states' rights • nullification • John C. Calhoun

(Newser) - A new federal study may be music to the ears of stressed firefighters and bomb squads, the New Scientist reports. The Department of Homeland Security is trying to record their brain activity when alert or calm, translate it into music, and play it back to soothe their frayed nerves. But... More »

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brain • Department of Homeland Security • Federal government • music therapy

(Newser) - Chrysler is preparing to file for bankruptcy as early as next week, the New York Times reports. The best-case scenario for survival: Chrysler will strike a deal with its lenders, file for bankruptcy protection to shed liabilities, then merge its strongest assets with Fiat. If those deals fall through, the... More »

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Chrysler • United Auto Workers • bankruptcy • auto industry • Federal government • Fiat • Obama administration • UAW

(Newser) - In an effort to increase revenue, the Internal Revenue Service is relaxing penalties on offshore tax evaders in hopes they will come forward, the New York Times reports. A penalty that was 50% of offshore holdings will drop as low as 5%. “They need to get money back into... More »

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taxes • IRS • UBS • tax evasion • Internal Revenue Service • Federal government • penalty • offshore

(Newser) - Chrysler, which has received $4 billion in federal money for its manufacturing operations and $1.5 billion for lending, wants another $1.5 billion for its loan arm, the Detroit Free Press reports. “We’ve gone to Treasury and said we need to re-up that amount,” Chrysler’... More »

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Chrysler • Detroit • auto loans • Federal government • emergency lending • auto bailout

Borrowers Now Flocking to the Feds to Default on Loans

Same cause of subprime mess blamed for new threats to taxpayers

Mar 8, 09 1:13 PM CDT
(Newser) - History is repeating itself, and taxpayers will be footing the bill for it: Flawed lending practices are enabling borrowers to receive mortgage loans they can’t repay—but this time, Washington’s involved, the Washington Post reports. Many of the loans provided by the Federal Housing Administration default after just... More »

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mortgage • Federal Housing Administration • borrowers • Federal government • taxpayers • predatory lenders

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