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...coalition of union, consumer and environmental groups, says Treasury lobbied "vigorously" for loopholes exempting certain over-the-counter derivatives from new regulations, a key objective of centrist New Democrats who took their concerns to Geithner - and one shared by the Chamber of Commerce, the National Association of Manufacturers and big banks...
...believed the Administration was reluctant to crack down on Wall Street, Volcker became the proof that wasn't in the pudding - the monetary version of the "most trusted name in news" who suddenly sounded like a Daily Kos blogger. If Obama really wanted to stop banks from getting too big to fail, why didn't he take Volcker's advice about how to stop them from getting too big? If Obama really wanted to stop Wall Street's excessive risk-taking, why didn't he take Volcker's advice to stop federally insured banks from gambling on their own accounts...
...innovation and the remorselessness of Wall Street. He was also making cagey references to his lack of influence with Obama, for whom he was chairing an obscure economic-recovery board. Congressman Paul Kanjorski says that last March, when he pitched Volcker on a plan to let regulators break up big banks that threatened the financial system, the former Fed chair said, "I'm out of vogue right now in the White House ... but I agree." Volcker secured his walk-on-water reputation by taming runaway inflation in the late 1970s, jacking up interest rates and ignoring intense public pressure...
...SUNDAY Catch Kyrgyzstan's national sport, ulak tartysh, at the hippodrome on the west side of town. Teams of riders vie to grab the corpse of a headless goat from the ground at full gallop and heave it into a vat. The big contests are held during the Nooruz Festival (March 21) and Kyrgyz Independence Day (Aug. 31), but smaller events take place at other times...
...starched white pinafores, delicate aromas of freshly brewed Darjeeling and Lapsang Souchong, the genteel tinkle of stainless steel on proper china: Whatever happened to the great British tearoom? With the homogenization of the high street, you could be forgiven for thinking they'd all but disappeared. Look beyond the big-brand coffee chains, however, and you'll find them alive and kicking. Here are some of the best...