Media

The Senate Banking Committee hearings on Tuesday enlightened the public on one extraordinarily important fact. Politicians can be expected to lie, bully, and engage in character assassination to serve the basest of motivations.

On the third anniversary of the Credit Card Accountability Responsibility and Disclosure Act being signed into law, the average debt has declined, but many Americans are still using credit cards as a way to cover basic living expenses, according to a national survey from the policy center Demos.

A national research firm says a recent survey of low and middle income consumers indicates the2009 Credit Card Accountability Responsibility and Disclosure Act is helping consumers reduce their credit card debt load.

Oil companies are doubling down on fighting a transparency provision in Dodd-Frank that would require the disclosure of payments made to foreign governments in connection with energy projects in their country. The provision requires information on payments for production licenses, taxes, royalties and other aspects of energy and mineral projects to be disclosed by oil and mineral companies to the Securities and Exchange Commission.

The revelation that Apple chief Tim Cook pulled in $378 million in compensation in 2011, more than any other CEO, has sparked the usual debate about how much CEOs are worth. Cook made $300 million more than the next highest paid exec in America, Oracle's Larry Ellison, leading some to wonder whether he's really that much better than his peers (especially since the late Steve Jobs is widely seen as the genius behind Apple's current success.)

The Credit CARD Act is helping households pay down balances faster, with a third of low- and middle-income households that carry credit card debt reporting that new disclosures have caused them to pay down their balances faster.

David Brooks offers up a spirited defense of private equity today in the Times, and many of his points make perfect sense: In fact, many private equity firms don't set out to laden the firms they buy with debt and cash out before the company goes bankrupt.

In the latest unfortunate news at the intersection of motherhood and politics, stay-at-home moms are doing worse emotionally than their working counterparts.