Big Wall Street banks are to reverse a section of the Dodd-Frank financial reform bill that requires them to post collateral when making internal derivatives transactions among their affiliates and subsidiaries. Congressional Republicans have supported the banks’ efforts for several years. Now a key House Democrat has taken up their cause.Financial Services Committee member Rep. Josh Gottheimer (D-N.J.) has begun urging regulators to act on the matter, spearheading that asks them to take “quick action” to repeal the requirement. The letter, which is co-signed by 16 other Democrats, was...…Big Wall Street banks are to reverse a section of the Dodd-Frank financial reform bill that requires them to post collateral when making internal derivatives transactions among their affiliates and subsidiaries. Congressional Republicans have supported the banks’ efforts for several years. Now a key House Democrat has taken up their cause.Financial Services Committee member Rep. Josh Gottheimer (D-N.J.) has begun urging regulators to act on the matter, spearheading that asks them to take “quick action” to repeal the requirement. The letter, which is co-signed by 16 other Democrats, was...WW…

Treasury Secretary Steve Mnuchin made hundreds of millions in the wake of the 2008 financial crisis by executing mass foreclosures as the CEO of OneWest bank. Now, as he takes the helm of an unprecedented bailout fund enacted in response to the coronavirus crisis, he’s in a position to profit once again. The coronavirus stimulus bill gives Mnuchin broad authority over a $454 billion slush fund for bailing out large U.S. businesses. Lobbyists and policymakers are still working out the rules of which companies will qualify, but in its design, the Mnuchin-led fund is for assisting large...…Treasury Secretary Steve Mnuchin made hundreds of millions in the wake of the 2008 financial crisis by executing mass foreclosures as the CEO of OneWest bank. Now, as he takes the helm of an unprecedented bailout fund enacted in response to the coronavirus crisis, he’s in a position to profit once again. The coronavirus stimulus bill gives Mnuchin broad authority over a $454 billion slush fund for bailing out large U.S. businesses. Lobbyists and policymakers are still working out the rules of which companies will qualify, but in its design, the Mnuchin-led fund is for assisting large...WW…

Tom Williams/Pool via AP Sen. Thom Tillis attends the confirmation hearing for Supreme Court nominee Amy Coney Barrett, October 15, 2020. produces investigative journalism on lobbying and money in politics. The American Prospect is re-publishing this article.Congress has once again put itself in a situation of having to pass a last-minute omnibus bill to fund the government and prevent a shutdown. These truly are must-pass bills since much of the government grinds to a halt without them, so they often get used as vehicles for controversial bills that can’t pass on their own. Senators and...…Tom Williams/Pool via AP Sen. Thom Tillis attends the confirmation hearing for Supreme Court nominee Amy Coney Barrett, October 15, 2020. produces investigative journalism on lobbying and money in politics. The American Prospect is re-publishing this article.Congress has once again put itself in a situation of having to pass a last-minute omnibus bill to fund the government and prevent a shutdown. These truly are must-pass bills since much of the government grinds to a halt without them, so they often get used as vehicles for controversial bills that can’t pass on their own. Senators and...WW…

Bill O'Leary/The Washington Post via AP Rep. David Scott (D-GA) speaks during a House Financial Services Committee hearing, June 30, 2020, on Capitol Hill in Washington. produces investigative journalism on lobbying and money in politics. The American Prospect is re-publishing this article.With Rep. Collin Peterson (D-Minn.) going down in defeat to former Minnesota Lt. Gov. Michelle Fischbach, the top Democratic spot on the House Agriculture Committee is up for grabs for the first time since 2006. The next leader of the committee will have the power to steer House Democrats on things like...…Bill O'Leary/The Washington Post via AP Rep. David Scott (D-GA) speaks during a House Financial Services Committee hearing, June 30, 2020, on Capitol Hill in Washington. produces investigative journalism on lobbying and money in politics. The American Prospect is re-publishing this article.With Rep. Collin Peterson (D-Minn.) going down in defeat to former Minnesota Lt. Gov. Michelle Fischbach, the top Democratic spot on the House Agriculture Committee is up for grabs for the first time since 2006. The next leader of the committee will have the power to steer House Democrats on things like...WW…

SharePrisons & PolicingPolitics & ElectionsRacial JusticePolitics & ElectionsEnvironment & HealthPolitics & ElectionsThis article was produced by , an independent, ad-free investigative news site covering money in politics. Click to support Sludge.A prominent Koch network group that is helping to organize protests calling for states to reopen is tied to a campaign that promoted misleadingly optimistic information about a drug it claimed could effectively treat Covid-19.FreedomWorks, a nonprofit that grew out of the David Koch-founded , has employed its social media,...…SharePrisons & PolicingPolitics & ElectionsRacial JusticePolitics & ElectionsEnvironment & HealthPolitics & ElectionsThis article was produced by , an independent, ad-free investigative news site covering money in politics. Click to support Sludge.A prominent Koch network group that is helping to organize protests calling for states to reopen is tied to a campaign that promoted misleadingly optimistic information about a drug it claimed could effectively treat Covid-19.FreedomWorks, a nonprofit that grew out of the David Koch-founded , has employed its social media,...WW…