WASHINGTON (AP) — The House Financial Services Committee has voted to set new rules for credit rating agencies, which lawmakers say misled investors by giving high marks to risky securities tied to subprime mortgages.
The proposal was approved by a 49-14 Wednesday vote in a rare bipartisan show of support.
The bill, by Pennsylvania Democratic Rep. Paul Kanjorski, is the panel's latest attempt to tighten the rules of the road for financial institutions after last year's market crisis.
Q: I have a 2008 Ford Escape, and I am having an issue with my ABS and traction control. When I first start the vehicle, the ABS light and traction control lights are off, but moments after I start driving or once I take a left turn, the car starts to stutter, the ABS and traction control light both start blinking, but shut off as soon as I straighten out the car and it runs perfect again. (This does not happen taking a right turn.) Minutes later, after I drive a mile or longer, both the ABS and traction control light will turn on and stay on as long as the car is running. I can take left turns with no problems; almost like there's no problem with the car at all. Any thoughts as to what this could be? It all started when I was pulling a small utility trailer with nothing on it.
Profits at big U.S. companies broke records last year, and so did pay for CEOs.
The head of a typical public company made $9.6 million in 2011, according to an analysis by The Associated Press using data from Equilar, an executive pay research firm.
A newly formed group to help fishermen outlast an 80 percent cut in their yellowtail flounder catch offered no certain solutions Wednesday to a battered fishing industry some warn will soon collapse.
DANVERS — The roof of the Walmart on Brooksby Village Drive soon could be sporting solar panels, bringing the world's largest retailer one step closer to its goal of being 100 percent powered by renewable energy.
People
Tom Torello was named vice president of marketing and communications at Salem State University. Most recently, Torello was vice president of university relations at Pace University in New York. He has also worked in marketing at Rensselaer Polytechnic Institute and at Ithaca College. Torello earned his bachelor's degree in communications from Ithaca College, and completed a management development program at Harvard's Graduate School of Education.
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