The Republican Party in the past has had a close relationship with Wall Street and big business. But lately there's growing tension and disagreement as some Republicans in Congress consider a possible government shutdown. The Tea Party seems to have the strongest criticism of big business.
Unless Congress and the White House come together on a bill to fund federal agencies, a large part of the government will be closed on Tuesday, Oct. 1. If a shutdown occurs, Social Security checks, food stamps and unemployment insurance will not be affected. But your vacation plans could be disrupted.
Three former employees at the London-based brokerage have been charged by the Justice Department with participating in a criminal scheme to rig an interest rate that anchors the world's financial system. It's alleged that the three brokers from ICAP colluded with a trader at Swiss bank UBS.
JP Morgan Chase is negotiating an $11 billion settlement, according to The Wall Street Journal. The firm would pay $7 billion in cash to regulators and $4 billion to consumers. JPMorgan is one of several large banks being investigated for its handling of mortgage-backed securities in the years leading up to the housing crisis.
Homeless-services providers in Los Angeles County are gathering data on the homeless population and ranking people by vulnerability. The goal is to get the most in need into permanent housing quickly. The "housing first" approach has been used in cities nationwide, but it has its critics, even among other advocates.
Congress has just days to avoid a government shutdown when the new fiscal year starts next Tuesday. Standing in the way is a House provision that cuts off all funding for the health care law known as Obamacare. The aim is to cripple that program just when its major provisions are about to kick in. But the Senate is not expected to pass any bill that defunds or delays Obamacare.