Jan 6 (Reuters) – The decisions by two U.S. Senate Democratic heavyweights to call it quits at the end of this year will cost their party plenty of punch on Capitol Hill.
But it should not knock out any pending legislation, such as healthcare and regulatory reform, though it may affect other areas, from trade to fighting abuse in government contracts.
Here’s a look at the likely fallout from the announcements by Senators Christopher Dodd and Byron Dorgan that they will not seek what would have been their sixth and fourth terms, respectively, in November’s election.
Category Archives: Senate Banking Committee
For the Love of Pete
From TALKING POINTS MEMO:
Intrigue. Deceit. And forbidden love on a sun-kissed tropical island — with billions of dollars on the line.
No, this isn’t a Danielle Steel bodice-ripper. Or Mark Sanford’s latest confession about crossing “the ultimate line”. Instead, it’s the story of the tangled, high-stakes relationship between Rep. Pete Sessions (R-TX) and accused Ponzi schemer Allen Stanford.
Indiana Jonesin’ for Jobs
From The New York Times:
Remarks of President Obama at the town-hall style meeting in Elkhart, Ind., as provided by the White House
President Barack Obama traveled today to Elkhart, Indiana for a town hall on the American Recovery and Reinvestment Plan. The President spoke directly with Elkhart residents about the impact the plan will have on their lives, and answered questions about the challenges that they face.
In Elkhart, where 8,000 jobs were lost and unemployment tripled in the last year alone, the President shared his specific plans to bring jobs back to the community, provide tax relief, and help lower the cost of health care and college for working families.
Madoff Made Off With Everyone’s Dough
Dec. 17 (Bloomberg) — U.S. Securities and Exchange Commission Chairman Christopher Cox said the agency failed to act for almost a decade on “credible and specific allegations” of wrongdoing by Bernard Madoff, who authorities say bilked investors of as much as $50 billion.
Allegations dating back until at least 1999 “were repeatedly brought to the attention of SEC staff, but were never recommended to the commission for action,” Cox, 56, said in a statement yesterday. He announced an internal probe to review the “deeply troubling” revelations.
Lack of Motor Skills
From David Welch at Business Week:
On CBS’ “Face the Nation” today, Senator Chris Dodd (D-Conn.) said that General Motors Chairman and CEO Rick Wagoner should “move on.” That could mean that Dodd and other members of Congress will ask for Wagoner’s resignation before voting on a loan package for GM and Chrysler next week.
Drive Me Crazy
From Freep:
WASHINGTON — Democratic leaders in Congress called on Detroit’s automakers Friday to submit “credible” financial plans to lawmakers by Dec. 2 for spending up to $25 billion in government money, including vows for “significant sacrifices” by top executives.
Oh, c’mon, Dems, your lips tell them no no, but there’s yes yes in your eyes….
Original DVD cover.
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Maybe he’ll win one of those giant Publishers Clearinghouse checks
It seems like the foreclosure nightmare has trickled up to the rich and famous! Never one to not exploit someone else’s misfortune, the cadaverous Larry King interviewed Ed McMahon and his golddigger wife Pamela in the wake of the imminent foreclosure on their mansion.
McCainomics 101
From Consortium News:
John McCain has been purging lobbyists from his campaign trying to reclaim the mantle of political reformer, but there’s one lobbyist whose role as a key economic adviser makes him almost untouchable despite ties to the sub-prime debacle, links to the Enron disaster and alleged evasion of ethics rules.
Former Sen. Phil Gramm, who was listed as a lobbyist for banking giant UBS as recently as December 2007, has emerged as what Fortune magazine calls “McCain’s econ brain,” filling McCain’s acknowledged void on economic expertise (“I don’t know as much about the economy as I should”).
HYSTERICAL RAISINS 
