In the wake of Saturday's Senate vote to move forward with debate on controversial healthcare reform legislation, CNN's John King may have posed one of the best questions asked on any of Sunday's political talk shows: To get Senator [Mary] Landrieu's vote, just to proceed, just to go across the starting line, language was inserted in the bill that gives her state up to $300 million. To get Senator [Ben] Nelson's vote, [Senate Majority Leader Harry Reid] agreed to drop a request that you take... Read Full Story
WASHINGTON (Reuters) - Two senators who authored legislation aimed at pressuring China to lift the value of its yuan said on Thursday they asked the Commerce Department to investigate alleged Chinese currency "manipulation." Sen. Charles Schumer, a New York Democrat, and Lindsey Graham, a South Carolina Republican, said the department has legal authority to determine whether China's currency practices are a form of subsidy and if so, impose tariffs on Chinese imports. "Commerce has authority... Read Full Story
WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner said on Thursday that no financial firm should be able to escape regulation, and the largest institutions need oversight from a single, strong regulator. "The regulation of the largest, most interconnected firms requires tremendous institutional capacity, clear lines of authority and single-point accountability. This is no place for regulation for council or by committee," Geithner said in testimony to the congressional Joint... Read Full Story
Treasury Secretary Timothy Geithner is pushing Congress to move quickly in overhauling the nation's badly flawed financial rules, which he says is essential for the health of the economy. Both the House and Senate are making progress toward revamping the current regulations, but Geithner said a rapid conclusion is needed to keep the economic recovery on track. "To ensure the vitality, the strength and the stability of our economy going forward, we must bring our system of financial... Read Full Story
Posted by AzBlueMeanie :
A brutal report issued last Monday by a government watchdog holds Timothy Geithner — then the head of the Federal Reserve Bank of New York and now the nation’s Treasury Secretary — responsible for over payments that put billions of extra tax dollars in the coffers of major Wall Street firms, most notably Goldman Sachs . Geithner Singled Out In TARP Watchdog Neil Barofsky’s Scathing Report On AIG Bailout :
The authoritative new narrative describes how, while... Read Full Story
Just moments ago the senate voted for cloture in the healthcare reform bill sending it ot the senate floor for debate. The vote passed 60-39. It is now inevitable that this bill will become law.
Conservative and moderate Democrats, such as Ben Nelson, who claimed to harbor doubts about the bill in the end fell in line with party leaders and voted to send this bill forward. These politicians who claimed that they would oppose the legislation only to vote in favor of it will use the... Read Full Story
On Thursday, following news that Senate Majority Leader Harry Reid (D-Nev.) had delayed a vote on cap and trade legislation until next year, the ranking Republican on the Senate Environment and Public Works Committee James Inhofe (R-Okla.) chose to rub it in at Chairwoman Barbara Boxer's (D-Calif.) expense: The fact that this whole idea on the global warming, I'm glad that's over and gone, done. We won, you lost, get a life. With Saturday's healthcare reform vote not going conservatives... Read Full Story
WASHINGTON — Political frustration over the rescue of Wall Street and high unemployment erupted in the House Thursday, with one committee threatening to impose tighter scrutiny on the Federal Reserve and another trading verbal insults with Treasury Secretary Timothy Geithner.
The House Financial Services Committee voted, 43-26, to approve a measure sponsored by Texas Republican Ron Paul, vociferously opposed by the Fed, that would direct the congressional Government Accountability... Read Full Story
I started writing this post before it was known that Mary Landrieu had accepted a $100 million bribe for her vote on healthcare reform. While it now seems pointless to fight this legislation anymore because the end result will be passage no matter how much bribe money Harry Reid has to offer I have decided to post in anyway.
The one and only victory that conservatives can claim in the battle over the healthcare reform bill that came out of the House of non-Representatives was on... Read Full Story
If you are opposed to the healthcare reform bill the prospects look bleak. It is hard to imagine any plausible scenario in which the bill will be defeated when you read a story like this one.
One wavering Democrat, Mary Landrieu, basically accepted a $100 million bribe for her vote. In order to gain Senator Landrieu’s vote Harry Reid wrote into the legislation $100 million in government subsidies to any state that suffered from a natural disaster in the last seven fiscal years. It just... Read Full Story
