SEC Requesting Comments on Money Market Fund Reforms natlawreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from natlawreview.com Daily Mail and Mail on Sunday newspapers.
<p><span>The Federal Reserve Act requires the Federal Reserve Board to submit written reports to Congress containing discussions of "the conduct of monetary policy and economic developments and prospects for the future." This report—called the </span><em>Monetary Policy Report</em><span>—is submitted semiannually to the Senate Committee on Banking, Housing, and Urban Affairs and to the House Committee on Financial Services, along with testimony from the Federal Reserve Board Chair.</span></p>
One of the pet villains of this site, Kathryn Wylde of the New York City Partnership (now apparently calling herself “Kathy” to seem more of a woman of the people) has returned to her highest and best use: saying things on behalf of the rich and Big Finance that they’re too circumspect to say themselves. As we’ll see shortly, Wylde is doing her official water-carrying for the preservation of the standing of the well-off by launching an “alert” opposing New York State plans to raise taxes to shore up the city’s shaky finances.
Wylde has a history of telling howlers to defend the funders of her business lobby, as a quick gander through our archives show. Recall that we supported Eliot Spitzer’s run for New York City Controller, since that would put him in charge of the city’s pension system, where he would be ideally positioned to take on the way private equity grifts at investor (and ultimately taxpayer) expense. Of course Wylde was not happy about the idea. From a