A quintet of Democratic senators introduced legislation Wednesday to specifically prohibit investment maneuvers that have been likened to "selling a car with faulty brakes and then buying an insurance policy on the buyer of those cars".
Senators Jeff Merkley (Ore.), Carl Levin (Mich.), Sherrod Brown (Ohio), Ted Kaufman (Del.) and Jeanne Shaheen (N.H.) are pushing the Obama administration's proposal to rein in banks' Wall Street-like practices, such as trading securities for their own profit, while they enjoy the protections afforded by U.S. taxpayers through deposit insurance and access to cheap funds courtesy of short-term loans from the Federal Reserve. Their legislation also attempts to sever the ties between banks and largely unregulated hedge funds and private equity funds -- firms that invest and bet for the benefit of their investors.
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March 11, 2010
March 10, 2010
You And What Armey?
Former House majority leader and presumed head of the Tea Party movement Dick Armey should perhaps be congratulated for excommunicating the anti-immigrant zealot Tom Tancredo. When I talked several weeks ago with Freedom Works, the group Armey leads that is behind much Tea Party activity, a representative authorized to speak for Armey expressed similar sentiments, telling me that they were "worried about Tom Tancredo" who could alienate the "libertarian branch" of the movement.
The spokesman contrasted the failed candidacy of the (very) culturally conservative gubernatorial candidate Ken Blackwell in Ohio in 2006 to the surging (by his account) campaign of the (very, like eliminate the state income tax) fiscally conservative John Kasich. The implication is that Tea Party candidates will succeed if they can focus attention on so-called pocketbook issues, such as cap-and-trade, the stimulus package, and earmarks. But if attention turns to divisive cultural issues, of which immigration is presumed to be one, the Tea Party will shatter like so many delicate teacups.
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The spokesman contrasted the failed candidacy of the (very) culturally conservative gubernatorial candidate Ken Blackwell in Ohio in 2006 to the surging (by his account) campaign of the (very, like eliminate the state income tax) fiscally conservative John Kasich. The implication is that Tea Party candidates will succeed if they can focus attention on so-called pocketbook issues, such as cap-and-trade, the stimulus package, and earmarks. But if attention turns to divisive cultural issues, of which immigration is presumed to be one, the Tea Party will shatter like so many delicate teacups.
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Leading Senator Wants New Fed Governors Committed To Full Transparency, Consumer Protection (LETTER)
The chair of a Senate panel overseeing the Federal Reserve wants the Obama administration to appoint Fed officials committed to transparency, consumer protection and lowering the unemployment rate -- three critical areas that the Fed needs to beef up.
In a Wednesday letter to Treasury Secretary Timothy Geithner and top White House economic adviser Lawrence Summers, Sen. Sherrod Brown (D-Ohio) expresses his concern about the two current vacancies on the Fed's seven-member Board of Governors and the impending vacancy to be created with the June departure of vice chairman Donald L. Kohn.
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In a Wednesday letter to Treasury Secretary Timothy Geithner and top White House economic adviser Lawrence Summers, Sen. Sherrod Brown (D-Ohio) expresses his concern about the two current vacancies on the Fed's seven-member Board of Governors and the impending vacancy to be created with the June departure of vice chairman Donald L. Kohn.
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Message to Republicans: Stop Hiding Behind the Troops
In what can only be described as a cheap partisan attack masquerading as patriotic chest-thumping, House Republicans this morning issued a statement opposing Ohio Representative Dennis Kucinich's resolution for the withdrawal of troops from Afghanistan because... [drum roll please] the Republicans strongly support the troops in Afghanistan.
In a statement of Republican policy forwarded to GOP politicians and their staffers, the House Republican Leadership and the House Committees on Foreign Affairs and Armed Services Republicans write, "Since the President's speech, more United States Armed Forces have been deployed to the Afghanistan theatre in support of the implementation of our nation's counterinsurgency strategy. Many of them leave behind family and friends for the second, third, and fourth time. They have been engaged in the largest offensive since the beginning of the war there, and they have done a magnificent job. House Republicans are mindful these troops and their families will be watching this debate and remain committed to working towards swift and clean action when the resources impacting their military readiness, operational needs, and family support is debated and passed this spring."
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In a statement of Republican policy forwarded to GOP politicians and their staffers, the House Republican Leadership and the House Committees on Foreign Affairs and Armed Services Republicans write, "Since the President's speech, more United States Armed Forces have been deployed to the Afghanistan theatre in support of the implementation of our nation's counterinsurgency strategy. Many of them leave behind family and friends for the second, third, and fourth time. They have been engaged in the largest offensive since the beginning of the war there, and they have done a magnificent job. House Republicans are mindful these troops and their families will be watching this debate and remain committed to working towards swift and clean action when the resources impacting their military readiness, operational needs, and family support is debated and passed this spring."
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Markos Moulitsas To Kucinich: You’ll Be Primaried If You Kill Reform
Daily Kos founder Markos Moulitsas warned on Tuesday night that if Rep. Dennis Kucinich (D-Ohio) plays a role in killing health care reform, a Democratic primary challenger would almost certainly await him in the next election.
In an appearance on MSNBC's Countdown with Keith Olbermann, Moulitsas conveyed pointed frustration with the Ohio Democrat's pledge to oppose reform on grounds that it doesn't go far enough. He said Kucinich was practicing a "very Ralph Nader-esque approach" to politics.
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In an appearance on MSNBC's Countdown with Keith Olbermann, Moulitsas conveyed pointed frustration with the Ohio Democrat's pledge to oppose reform on grounds that it doesn't go far enough. He said Kucinich was practicing a "very Ralph Nader-esque approach" to politics.
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March 8, 2010
Kucinich Becomes Target Of Health Care Whip Campaign
With the real possibility that a handful of lawmakers -- or even a single vote -- in the House of Representatives could end up deciding the fate of health care reform, advocates are suddenly targeting the chamber's most progressive holdout.
Rep. Dennis Kucinich (D-Ohio.) has firmly staked out his opposition to health care reform's passage, citing the timidity of the legislative language and, specifically, the unwillingness of lawmakers to seriously consider a single payer system.
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Rep. Dennis Kucinich (D-Ohio.) has firmly staked out his opposition to health care reform's passage, citing the timidity of the legislative language and, specifically, the unwillingness of lawmakers to seriously consider a single payer system.
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March 1, 2010
Who Killed Mom’s Cat? A Mystery About Aging Parents
My senior executive friend Cathy is a most rational and reasonable person. So when she called ranting about the crimes of her sister Lynette, I was taken aback. Their mother's beloved cat Rufus had been put to sleep while under Lynette's care, and Cathy was seething with grief and rage. You'd think her sister had murdered that sad, ancient tabby.
It seems younger sister Lynnette's home is in Ohio, an hour away from Mom, while Cathy lives in Manhattan. To help 87- year-old Mom out as she underwent a hospital procedure, Lynette picked up Rufus, planning to bring him back a week later. But while Mom awaited her beloved pet's return, the tabby began wobbling. When he got worse the next day, Lynette rushed him to the local vet and was told his condition was hopeless. Then she bundled Rufus into her car and drove him straight to Mom, who clutched the poor trembling animal to her chest, kissed him and wept. Together they agreed they needed to end his suffering, and Lynette supported her Mom through the horrible ordeal. Afterwards, Mom called Cathy to share the awful news.
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It seems younger sister Lynnette's home is in Ohio, an hour away from Mom, while Cathy lives in Manhattan. To help 87- year-old Mom out as she underwent a hospital procedure, Lynette picked up Rufus, planning to bring him back a week later. But while Mom awaited her beloved pet's return, the tabby began wobbling. When he got worse the next day, Lynette rushed him to the local vet and was told his condition was hopeless. Then she bundled Rufus into her car and drove him straight to Mom, who clutched the poor trembling animal to her chest, kissed him and wept. Together they agreed they needed to end his suffering, and Lynette supported her Mom through the horrible ordeal. Afterwards, Mom called Cathy to share the awful news.
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February 26, 2010
Can Dems Retain Control of the Senate?
One year ago, as the Democratic Senate majority inched towards the number 60, Party leaders expected to add to their majority at the mid-term election. Since then the political winds have shifted. Now Dems will be lucky to retain control of the Senate.
On November 2nd, 36 Senate seats will be decided: each Party currently holds 18. At the present time, 14 Republican incumbents appear safe. However, four Republican Senators are retiring (Kentucky, Missouri, New Hampshire, and Ohio) and their seats are in play.
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On November 2nd, 36 Senate seats will be decided: each Party currently holds 18. At the present time, 14 Republican incumbents appear safe. However, four Republican Senators are retiring (Kentucky, Missouri, New Hampshire, and Ohio) and their seats are in play.
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February 25, 2010
Holder, Gates Raise Constitutional Concerns About Terror Trial Funding Legislation
As Congress gets set to re-consider legislation that would cut off funding for terrorism trials in federal civilian courts, key members of the Obama administration have penned a letter to House leadership in both parties, raising constitutional concerns about the move.
Writing to House Speaker Nancy Pelosi (D-Calif.) and Minority Leader John Boehner (R-Ohio), Defense Secretary Robert Gates and Attorney General Eric Holder declared that the "exercise of prosecutorial discretion has always been and should remain an Executive branch function."
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Writing to House Speaker Nancy Pelosi (D-Calif.) and Minority Leader John Boehner (R-Ohio), Defense Secretary Robert Gates and Attorney General Eric Holder declared that the "exercise of prosecutorial discretion has always been and should remain an Executive branch function."
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