Is a Second U.S. Stimulus Package Headed Our Way? – By Jon D. Markman – Money Morning
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revenue source? – Fines for too-tall grass could rise to $1,000 a day in Jupiter – By BILL DIPAOLO – Palm Beach Post
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Fed Makes Monitoring Capital Foremost Concern Amid Bubble Talk – By Craig Torres and Michael McKee – Federal Reserve officials are stepping up scrutiny of the biggest U.S. banks to ensure the lenders can withstand a reversal of soaring global-asset prices, according to people with knowledge of the matter. – Bloomberg
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Treasury to Auction Off Big-Bank Warrants – By ERIC DASH – … The Treasury will sell warrants that the government received as part of the taxpayer-financed rescue via auctions next month. The sales could raise $1.3 billion to $3.1 billion. The move will free the three banks — JPMorgan Chase, Capital One Financial and TCF Financial — from the Troubled Asset Relief Program, or TARP. … – NY Times
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Panel Votes to Broaden Oversight of the Fed – … The House Financial Services Committee approved a measure proposed by Representative Ron Paul of Texas that would allow Congress to order audits of all the Fed’s lending programs as well as of its basic decisions to set monetary policy by raising or lowering interest rates, Edmund L. Andrews writes in The New York Times. … Fed officials have adamantly opposed the measure, saying it would undermine the central bank’s political independence and gravely threaten its credibility as a bulwark against inflation. The vote on Thursday occurred despite the opposition of Representative Barney Frank, … – NYT Dealbook