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June 23, 2010 - by Moshe Bildner

  • Democratic leaders are asking Sen. Blanche Lincoln (D – AR) to “water down” her provision in the Senate FinReg  bill that would ban banks from receiving government subsidies for their profitable – but risky – derivatives trading operations. Lincoln is refusing. (New York Times)
  • Sen. Lincoln is also pushing a change in the bill that would exempt an Arkansas bank owned by the Walton family (of Wal-Mart fame) from certain capital holding requirements. (Wall Street Journal)
  • House, Senate negotiators agree to establish a consumer protection bureau housed in the Fed as part of the new financial regulation bill. (Businessweek)
  • House Democrats, nervous about deficit, propose $7 billion in budget cuts for next year. (AP)
  • Deficit worries have also driven cuts in the Senate’s stalled unemployment relief bill, but massive tax breaks remain untouched. (The LA Times)
  • The House subcommittee on the Constitution, Civil Rights, and Civil Liberties will hold hearings on Thursday to examine “location-based mobile services”. Concerns over possible privacy violations are expected to be the main focus of the hearings. (Washington Post)
  • Rep. Joe Barton (R – TX-06) tweeted an article supporting his infamous “shakedown” accusation, the tweet was quickly retracted by Barton’s spokesman.  (Washington Post)
  • Senate is expected to quickly confirm Petraeus to be the new to commander in Afghanistan.(Politico)
  • Senate and House feud over medicare cuts. (Politico)
  • Iran prepares for and reacts to Congress’ sanctions on Iran’s fuel exports. (WashingtonPost)
  • Highlighting Congress’ oil spill legislation, The Political Climate has used OpenCongress links to explain current bills.
  • House Democrats prepare to draft legislation in order to tighten oil spill practices. (Reuters)
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Comments

  • Chris51 06/29/2010 10:32am

    Congress that rushed through a $700 billion bailout of Wall Street in 2008 in a matter of days, and authorized a further financial windfall to the banks and speculators five months later, cannot bring itself to support even the most meager subsistence for the unemployed workers who are the victims, not the perpetrators, of the economic crisis.
    The Wall Street Journal reported last week that American CORPORATIONS have increased their cash reserves to $1.84 TRILLION, the highest figure in history! In other words, big business and the banks, after an unprecedented bailout by the public treasury, are hoarding the funds that could put millions back to work. The cash reserves of major corporations have jumped 26 percent in one year, the largest percentage increase in nearly 60 years. The cash reserves of working people, and particularly the unemployed, have not been so fortunate.
    IT’S TIME FOR CHANGE.ORG REMOVE GOP/CORPORATION EXECUTIVES DISTROYING OUR COUNTRY

  • Comm_reply
    Chris51 07/08/2010 7:20pm

    Senator’s excuse for not passing is a false statement.
    Read all about it:
    The funding argument is even harder to swallow. I’d be more sympathetic with these new converts to fiscal responsibility if they were as enthusiastic about paying for extending $32 billion worth of special interest tax breaks as they are about funding the unemployment extension. If I understand correctly, these lawmakers insist that Congress fund every dime of added jobless aid, which nearly all analysts agree will help boost the economy. But they feel no need to pay for continuing these special interest tax breaks, which will not.
    Full Story:
    http://www.csmonitor.com/Money/Tax-VOX/2010/0707/Senate-struggles-with-unemployment-benefits

  • Comm_reply
    Chris51 07/08/2010 7:20pm

    GOP are determined to bloc everything the President is trying to do for the USA right now. He has a vested interest, and seems to take pride in doing the best job he can while in office.
    We are in trouble as long as Republican politicians continue favoring their special interest.
    How can any CEO or Owner of business get anything done if half of his managers or executives stand in his way just to be defiant.

    President Obama speech on CSPAN today, while in Kansas City, MO to support a future candidate. Was right on.
    If you are an unemployed American, and are thinking no one understands the difficulties of being jobless. Obama speech articulated the financial and emotional struggles well. Hat’s off to the President for saying what needed to be said.

    http://cspan.org/Watch/Media/2010/07/08/HP/A/35248/Pres+Obama+Remarks+at+Fundraiser+for+Missouri+Senate+Candidate+Robin

  • Comm_reply
    Chris51 07/10/2010 7:09am

    Republicans filibustered UI Ext bill! They’re asking for UI Ext be paid, while at the same time they’re fighting to give their Special Interest groups special tax stimulus. Rep are trying to look like they care about the deficit, but for 10 yrs (Bush Admin) they never spoke of concerns for the huge deficit they were digging us into as they approved large spending for Special Interest. The Rep debate on these UI Ext bills are like “broken record”. They want USA to use the stimulus money that is already committed to the agreed upon projects, programs, etc. Republicans want USA to “rob Peter to pay Paul”, so they can try to prolong the problem past November election. This is how they have operated for YEARS, and we’re in worse shape now because of their IRRESPONSIBLENESS. People should not be in Leadership positions if they cant make decision for the problems at hand.
    Dont take my word for it. Please read links Donny Shaw and others have provided with accurate research and reporting.

  • Chris51 06/30/2010 10:44pm

    The Senate needs to be held accountable for their incompetence and lack of integrity. Shame on them for not coming up with a 100% solution for all Americans who are forced to survive on their UI.

    President Obama can’t sign a bill, if Congress doesn’t get it to him. President Obama’s discussed the economy, and the need to help the displaced unemployed with UI Extentions on Monday and Tuesday. CSPAN.ORG

    As of today, we have 9.7% unemployed, 55% of the workforce have taken reduced work hours, pay-cuts, unpaid leave, forced to switch to part-time, and BP Oil Corporation’s IRRESPONSIBLENESS is adding to LOST JOBS and LOST LIVES.
    1.2 million who will lose their Unemployment Insurance if Republicans get their way.

    The GOP have no vested interest in hearing or helping jobless people. The only communication Republicans hear is $$$$$. That’s why they listen to and only support Oil Companies, Insurance Companies, Banks, Big Corporations, and Wall Street

  • Chris51 07/01/2010 9:05am

    Corporations have increased their cash reserves to $1.84 TRILLION, THE HIGHEST FIGURE IN HISTORY! Big business and the banks, after an unprecedented bailout by the public treasury, are hoarding the funds (Americans pay this back on their IRS tax bill). BIG CORPORATIONS EXECUTIVES ARE MAKING BIG BONUSES AND GETTING SALARY INCREASES FOR SHOWING HUGE PROFITS. The cash reserves of major corporations have jumped 26 percent in one year, the largest percentage increase in nearly 60 years. The cash reserves of working people, and particularly the unemployed, have not been so fortunate.

    REPUBLICANS bloc, the SENATE vote and defeat sevaral proposed extension of unemployment benefits for unemployed workers. Many of these same Senators rushed through a $700 BILLION bailout of Wall Street in 2008 in a matter of days, cannot bring itself to support even the most meager subsistence for the unemployed workers who are the victims, not the perpetrators, of the economic crisis.
    WWW.CHANGE.ORG

  • Chris51 07/03/2010 10:06pm

    REPUBLICAN FILIBUSTER ON UI EXT BILLS!
    Why don’t our Senators get that there is a great need?

    The job market is broken.
    The corporate executives are not going to give up their year-end profit bonus by adding jobs/payroll to their companies.

    Here are a few stories on our jobless nation:

    Job recovery hits a wall
    http://money.cnn.com/2010/07/02/news/economy/jobs_june/index.htm

    Job gloom at all time high
    http://money.cnn.com/2010/07/03/news/economy/discouraged_workers/index.htm

    7.9 million jobs lost- many forever
    http://money.cnn.com/2010/07/02/news/economy/jobs_gone_forever/index.htm

    Jobless claims spike
    http://money.cnn.com/2010/07/01/news/economy/jobless_claims/index.htm

    Thousands at risk for losing unemployment benefits
    http://www.myfoxphoenix.com/dpp/money/job_news/unemployment-benefits-jeopardy-6-28-2010

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