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Obama: Sweeping Financial Reforms Will 'Hold Wall Street Accountable'
By Patricia Murphy - Politics DailyIt took 20 hours and some frantic, last-minute dealmaking, but House and Senate negotiators wrapped up a marathon session Friday morning with a final deal to overhaul the American financial system nearly two years after the 2008 crisis that brought the American economy to the brink of collapse. Just before 6 a.m. Friday, bleary-eyed lawmakers approved the House-Senate conference committee report on a party-line vote of 27-16 after a grueling two-week session that Sen. Chris Dodd (D-Conn.) compared to living in purgatory. But as President Obama departed for the G-8 Summit hours after the ...
Springsteen Rocks, Pols Roll in Dough With Fundraisers at Concerts
By Tom Diemer - Politics DailyA raucous Bruce Springsteen concert, replete with sweaty, working-class anthems, would not at first blush seem like an ideal venue for guys in tailored business suits and French-cuffed shirts. But it turns out rock concerts and similar entertainment events have become favored settings for political fundraising, thanks to the easy access congressmen have to skyboxes controlled by private companies and lobbying groups. In 2009 alone, at least 108 congressional fundraising parties were staged at Washington's three premier entertainment venues, ProPublica reported Friday. At least 19 ...
Chaos Theory -- Tea Party Racist? Homophobic? Show Me the Video
By Robert and Donna Trussell - Politics Daily...
Optimism on Passage of Bill Tightening Screws on Wall Street
By Tom Diemer - Politics DailyLooking to build political momentum, President Obama met Wednesday with top Democrats pushing for reform of the nation's financial system. The meeting occurred amid signs that a long-delayed package tightening regulations on Wall Street and large banks may emerge from Congress this year. Obama met at the White House with Sen. Chris Dodd (D-Conn.) and Rep. Barney Frank, (D-Mass.), chairmen of the respective banking committees in the Senate and House. "There's no doubt that financial reform is something the president expects to sign this year," White House Press Secretary Robert Gibbs ...
Sarah Palin Mocks Self, Journalists at Gridiron Dinner
By Lynn Sweet - Politics DailyFormer Alaska Gov. Sarah Palin had a second chance to make a first impression on Saturday night, speaking at the Gridiron Club annual winter dinner -- supposedly enemy territory since it is a black-tie gathering of elite mainstream Washington journalists. ...
Candidates for Scrutiny Under Barney Frank's Corporate 'Death Panel'
By Joann M. Weiner - Politics DailyAt Thursday's House Financial Services Committee hearing on systemic regulation, Chairman Barney Frank, Democrat of Massachusetts, argued that it is time to stop using taxpayer funds to save firms that pose a systemic risk to the U.S. economy. Frank knows exactly how he wants to put this practice to an end: "There will be 'death panels' set up by Congress to put these institutions out of business," he said. ...
Administration Plans Limits on Institutions 'Too Big to Fail'
By David Sessions - Politics DailyCongress and Obama administration officials are planning to introduce legislation this week to rein in companies so large that the government has no choice but to rescue them from financial trouble, the New York Times reported Monday. The Times says the proposed legislation would "make it easier for the government to seize control of troubled financial institutions, throw out management, wipe out the shareholders and change the terms of existing loans held by the institution."Rep. Barney Frank, the chairman of the House Financial Services Committee, could introduce the bill this week after ...
Barney Frank: 'I Will Either Die Fat or Hungry'
By Patricia Murphy - Politics DailyJust before the financial meltdown reared its head, Rep. Barney Frank (D-Mass.) told biographer Stuart Weisberg that he'd like to be a Cabinet secretary, specifically head of Housing and Urban Development, to cap off his nearly 30-year career in Congress. "I want at least two years with President Obama and a solidly Democratic Senate so that we can get the federal government back in the housing business," he told Weisberg in 2008. When the writer asked if Frank wouldn't rather have the more glamorous post at the Treasury Department, Weisberg told Politics Daily, "He said he didn't want to ...
Chaos Theory - Here's to You, Mister Kennedy
By Robert and Donna Trussell - Politics Daily...
Video: Barney Frank Confronts Town Hall Protester
By David Knowles - Politics DailyEarlier today, Massachusetts representative Barney Frank had a run-in with a town hall protester who opposes President Obama's proposed health care reform. The woman asked asked the congressman, "Why do you continue to support a Nazi policy?" Frank's off-the-cuff response shows why he has become a favorite of cable television talk shows. Watch: ...
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