I mentioned earlier that the Goldman fraud allegations would likely be wielded by Democrats as an exemplar in the financial reform fight. Yup. (Emphasis mine):
Washington, DC—Nevada Senator Harry Reid released the following statement today in response to SEC charges against Goldman Sachs regarding mortgage investments:
“Millions
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Stephen Gandel over at the Curious Capitalist has some more context and analysis on the SEC action against Goldman.
Of political import:
The first question was who was damaged here. The answer is all of us. First of all, the investors who bought the securities lost about $50 billion on them. Those investors were mostly pension funds.
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Official White House Photo by Pete Souza
–President Obama has directed HHS to establish a rule whereby any hospital receiving Medicare or Medicaid funds (basically all of them) cannot deny visitation rights to gay and lesbian partners, among others.
–Charlie Crist vetoed a teacher merit pay bill in Florida. Why is that a big …
From Catherine Mayer, TIME’s London Bureau Chief:
On one topic at least there was a perfect consensus when the leaders of Britain’s three largest political parties faced each other in a 90-minute televised debate this evening, ahead of elections on May 6. This was the first ever such contest, and everyone – the protagonists Prime …
Our colleague Stephen Gandel over at the Curious Capitalist has a phenomenal post on taxes. The headline is sure to entice you Swampland folks:
Could the Tea Party be Right About Taxes?
Enjoy.
American Banker has a Q&A with FDIC Chair Sheila Bair today in which she largely echoes the sentiments of Senator Corker.
Do you see any way left for the government to bail out a financial institution?
BAIR: No, and that’s the whole idea. It was too easy for institutions to come and ask for help. They aren’t going to do that. This
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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 …
Official White House Photo by Chuck Kennedy
–The administration is trying to pick off individual Republican Senators to cross the aisle on financial reform. On their list: Olympia Snowe, Scott Brown and Kit Bond.
—Judd Gregg says he wants back at the negotiating table. Much of the GOP’s current argument is that opposition is …
Official White House Photo by Pete Souza
–If Mitch McConnell raised the curtain on this season of financial reform political theater yesterday, then the White House serves as backdrop for the first act today. Obama is set to meet with Speaker Pelosi, Leader Reid, Senator McConnell, Rep. Boehner and Rep. Hoyer at the White House …
It is with a heavy heart that I put up the first post-Karen 1,000 words from our White House photo blog:
Brennan Linsley / AP
Bit by bit, bipartisan negotiations in the Senate over financial regulatory reform have broken down. Richard Shelby, the ranking Republican on the Banking Committee split with the Democratic Chairman, Chris Dodd in February. Bob Corker filled the gap, stepping in to try to hammer out a compromise on an issue in which both parties see the …
Official White House photo by Pete Souza
—Mega-scoop from Ben Smith: Andy Stern reportedly plans to step down as president of the Service Employees International Union. Stern is a titan of the labor movement and the American left, not to mention an intimate ally to the White House. Marc Ambinder
Official White House Photo by Pete Souza
–Leaders from 46 countries have descended on Washington for this week’s nuclear summit. Whether anything beyond mere symbolism can be achieved is not yet clear.
–The meeting to watch today? Obama’s sit-down with Chinese President Hu Jintao. He needs to lock up China’s support for U.N. …
