THE contest is set between Ed Markey and Gabriel Gomez to replace John Kerry in the Senate. It’s not a race like when Scott Brown was running, with Gomez against reproductive rights, but also says he’s against overturning Roe v. Wade, and for Social Security cuts. It’s more like Mitt Romney’s resurrection. The question is [...]
Tag Archives | Wall Street
News Desk: Big Victory for Liberals and Labor in New York
New York City is poised to mandate that thousands of companies provide paid time off for sick employees, bolstering a national movement that has been resisted by wary business leaders. [New York Times] BILL LIPTON and “a raw display of political muscle by a coalition of labor unions and liberal activists,” as the Times described [...]
Senate Passes Non-Binding “Budget” in “Vote-a-Rama” and Amendment-palooza
On Friday, however, Senate Democrats stood up and voted for almost a trillion dollars more in tax hikes — and that’s on top of the tax hikes in the fiscal cliff deal. That’s about $375 billion more in tax increases than even Obama has been asking for lately. Republicans always said Senate Democrats needed to [...]
Fortune on J.P. Morgan CEO Jamie Dimon: “It’s always the cover-up that will get you”
The Senate Permanent Subcommittee on Investigations issued a scathing bi-partisan report last night. Fifty of the 300 pages of the report were devoted to a section entitled “misinforming investors, regulators and the public” in which Dimon was front and center. [...] But the report, citing Rules 10b-5 and Section 17(a) of the Securities Act of [...]
Congressional Progressive Caucus Unveil “Back to Work” Budget *Updated*
WHILE EVERYONE is listening to the squealing talking heads on morning cable, none of whom know much about what a real budget looks like that doesn’t channel the disastrous notion of austerity, House progressives showed the Democratic party, the White House, and everyone else in Washington, how it’s done. You can read the Progressive Congressional [...]
Through the Devolving Door: Scott Brown, Joe Lieberman and Jon Kyl
Moving on from Congress to jobs-you-get-because-you-were-in-Congress is obviously nothing new, and totally bipartisan. There is a difference between joining a lobbying firm (former Sen. Scott Brown) and joining a think tank (former Sens. Joe Lieberman and Jon Kyl), but there is a revolving door similarity. Serve in Congress, and you probably have a bit of [...]
Obama Invites Ryan to Lunch to “Sell ‘Grand Bargain’”
President Barack Obama –seeking to sell Republicans on a revival of “grand bargain” talks — has invited 2012 GOP veep candidate Rep. Paul Ryan (R-Wis.), the chairman of the House Budget Committee, over to the White House for lunch on Thursday, POLITICO has learned. [Politico] POWERFUL allies that could shift the discussion on the budget, [...]
It’s Great to Be A Corporation in The Golden Age of Profits
THE GRAPH above says it all and there’s more where it came from over at The Atlantic, in a post by Derek Thompson. Here are two things that are true about the economy today. (1) The Dow Jones industrial average is poised to set a new record as corporate profits stretch to all-time highs. (2) [...]
Elizabeth Warren Fillets Regulators: “Too Big to Fail” Becomes “Too Big for Trial” [Video]
“They violated every goddamn law in the book,” says Jack Blum, an attorney and former Senate investigator who headed a major bribery investigation against Lockheed in the 1970s that led to the passage of the Foreign Corrupt Practices Act. “They took every imaginable form of illegal and illicit business.” – Gangster Bankers Too Big to [...]
Top Story — Obama’s Inaugural Week, Reid and Schumer’s Weaknesses Follow
The joint budget resolution could also call for Medicare reforms and using the chained CPI formula to curb the cost of Social Security benefits. These entitlement reforms combined with tax reform would give Republicans political cover to accept tax increases — or at least more cover than if tax increases were merely packaged as an [...]
Senator Elizabeth Warren Eviscerates A.I.G.’s Hank Greenberg Over Possible Lawsuit Against Taxpayers Who Bailed them Out
AFTER WRECKING the U.S. economy, the numbskull who helped cause it, former AIG CEO Maurice “Hank” Greenberg, is trying to get A.I.G. to join his lawsuit against the New York Fed and the federal government, which was reported in a widely read story in the New York Times on Monday. The reaction in Washington and [...]
Boehner Opens House on Sunday, Hoyer Invokes Child Hostage Being Shot on Debt Limit
SHOCKING! SHOCKING, I say. Speaker Boehner is bringing back the House on Sunday, because Republicans are looking really small in this and at the bottom everyone knows middle class tax cuts will pass at some point and they might as well appear in the game. But, yes, I still believe a deal will get done [...]
Goldman Sachs Bailout King Blankfein to Powwow with House Republicans, While Obama Rules Out Social Security For Now
GOLDMAN SACHS bailout king CEO Lloyd Blankfein is headed to Capitol Hill to push his ideas for the fiscal cliff scheme in person. The guy who advised that the Social Security “retirement age has to be changed” in an interview with Scott Pelley of 60 Minutes recently, is headed to a meeting with House Republicans [...]
Top Story — Sen. Patty Murray: If No Revenue from Republicans, Let Tax Cuts Expire, Start Over in 2013
“If the Republicans can’t see their way to significant additional revenues targeted toward the people who are best off and targeted toward passive income and other things like that, then we’re better off going over the cliff and readdressing this with a better Congress in January,” Rep. Peter DeFazio (D-Ore.) said. “And we would have [...]
Chambliss Blasts Grover Norquist, but Larger Fight Centered on Elizabeth Warren
“I care more about this country than I do about a 20-year-old pledge.” – Senator Saxby Chambliss GROVER NORQUIST has no plan to pay down the debt, Chambliss charges. That’s because Norquist and the American right really do want to drown government in the bathtub. But if Republicans choose to listen to people championing this [...]
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