Will a Mark-to-Market Fix Help Save the Banks?

To fix the banks, Washington needs to get toxic assets off their balance sheets. That’s easily said but not so easily done. One reason is an obscure accounting rule that is the subject of intense lobbying by representatives of the banking industry ahead of congressional hearings on Thursday on the matter

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Obama submits budget blueprint

President Obama on Thursday presented a budget that he said is an "honest accounting of where we are and where we intend to go." Congress received a 140-page summary of the budget for fiscal year 2010 Thursday morning. The full details are expected in April. The government’s fiscal year runs from October of one year to September of the next

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California: One Vote Short of Averting Catastrophe

It’s becoming a cliché: California lawmakers again fail to reach agreement on a budget. As California engages in a budget battle that has left the government of the world’s eighth largest economy slipping toward insolvency, Republican Governor Arnold Schwarzenegger and the Democratic legislative majority continue to search for one last Republican vote to pass a budget

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