The Senate tonight passed a sweeping overhaul of the rules that govern Wall Street with the aim of better protecting Main Street if the markets were ever to meltdown again. The legislation would greatly empower the Federal Reserve Bank to monitor and oversee financial flows in order to predict and prevent a massive pooling of risk – …
Senate
Toomey/Sestak Race Starts Ugly
On Tuesday night as Pennsylvania Senator Arlen Specter took the stage to give his concession speech he thanked the crowd and remarked at the large number of media in the room – which nearly doubled the size of his audience. “Look at all these reporters, I don’t think I’ve ever seen so many,” he said chuckling lightly at his …
Today’s Winner
Sure, yesterday’s primaries sent the signal that just about everyone outside the Beltway loathes just about everyone inside the Beltway. But there is one guy here who’s coming out of this a king maker. A profile of Senator Jim DeMint and his crop of candidates.
Specter Exits Stage Left
Arlen Specter has survived a lot of things: a brain tumor, two bouts with Hodgkin’s lymphoma and five squeaker elections for the U.S. Senate. But in an anti-establishment year where the far right hates the moderates and the far left hates the moderates, Specter – whose voting record over the past 30 years is almost perfectly down the …
War on the Home Front
From TIME’s Pentagon Correspondent, Mark Thompson, who also happens to hail from the Nutmeg State:
Richard Blumenthal, the Connecticut Democrat seeking to succeed Christopher Dodd in the U.S. Senate, did a lot more fighting over Vietnam Tuesday than he ever did inside the country. That’s because, despite his claims to the contrary, he
…
Kerry, Lieberman Unveil Climate Bill
What is it about Senator Lindsey Graham that brings out the Mr. Smith in the most inveterate politicians? First, Chuck Schumer unveils their working draft of immigration legislation in the vain hope that by making a good faith, bipartisan bid some other Republicans might sign on; the response has not been deafening. Now Senators John …
The Trader’s View On Derivatives Reform
Wallace C. Tubeville, a former Goldman Sachs VP and former CEO of derivative broker VMAC, has done us all a service. In a post on New Deal 2.0, he lays out the over-the-counter derivative trader’s view of why financial reform is a bad thing.
A level playing field is anathema to the trader. Successful traders must have advantages over
…
DSCC Doubles Down on “Demon Sheep”
In a gambit to recapture the fascination with Carly Fiorina’s bizarre web video, the Democratic Senatorial Campaign Committee has thrown together this number to prebut the California Republican Senate debate tonight in Los Angeles. It features, among other things, an endless stream of ovine puns:
I guess the lesson in all this is …
Crist Pulls ahead
Lincoln and Specter: Insiders, Outside
With 14 days until their respective primaries, Blanche Lincoln and Arlen Specter are up with two new ads trying to encapsulate their candidacies in a concentrated dose and carry the bloodied incumbents into the general. Both Senators have flagging approval ratings, but are currently polling (plurality) leads against their primary …
Mitch Endorses
In an unusual move, Senate Minority Leader Mitch McConnell today endorsed his long time protege Kentucky Secretary of State Trey Grayson for forced out, er, retiring Jim Bunning’s Senate seat.
With two weeks to go before the Bluegrass State’s first contested Senate GOP primary, Grayson is trailing insurgent Tea Party darling Rand …
Bob Corker and Resolution Authority: Is Financial Reform a Recipe for Bailouts?
Senate Minority Leader Mitch McConnell came out in vociferous opposition to the current financial reform bill on Tuesday, arguing the legislation “institutionalizes… endless taxpayer-funded bailouts” that will ultimately allow the failed giants of Wall Street to escape accountability.
McConnell’s criticism comes at a pivotal …
GOP Party Like It’s 1994?
Not so much. Today, I look at five reasons why this cycle is different from 1994… so far.
