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Senate Showdown Looming Over 'Don't Ask, Don't Tell'
By Patricia Murphy - Politics DailyThe Senate will take a key vote Tuesday to avoid a Republican filibuster on the Department of Defense Authorization bill, the annual legislation that sets policies and spending levels for the Pentagon. But two controversial additions to the bill -- language to begin the repeal of the ban on gays serving openly in the military and a last-minute amendment to give young illegal immigrants a path to citizenship -- have significantly complicated the bill's fate. "Do we have the votes?" Sen. Carl Levin said Monday at a press conference. "My answer is, 'I don't know whether we have the votes or ...
Gen. David Petraeus Passes Out at Senate Hearing, Appears to Be OK
By Politics Daily Staff - Politics DailyGen. David Petraeus, head of U.S. forces in the Afghanistan and Iraq wars, briefly passed out Tuesday morning during a Senate Armed Services Committee hearing and had to be escorted from the room on Capitol Hill.. As Sen. John McCain (R-Ariz.) gave an opening statement on the progress in the war in Afghanistan and praised Petraeus for his role in battling the counterinsurgency there, Petraeus leaned his head onto the table in front of him and seemed to nearly lose consciousness. Several uniformed officers from the Pentagon rushed to the general's side as he raised his head up from the ...
'Don't Ask, Don't Tell': Way May Be Clear for Repeal of Military Gay Ban
By Patricia Murphy - Politics DailyOffice of Management and Budget Director Peter Orszag notified key members of Congress late Monday that the Obama administration will support a specific measure to repeal the Pentagon's longtime ban on gays serving openly in the military. The news, which one advocate called "a dramatic breakthrough," virtually assures the measure will pass Congress later this week. As a presidential candidate, Barack Obama vowed to end the military's policy within his first year in office, but progress of the repeal has been marked by fits and starts since his inauguration as he focused on the wars in Iraq ...
Senators Propose Law Banning Banks From Betting Against Customers
By Christopher Weber - Politics DailyTwo Democratic senators are proposing rules that would ban investment banks from betting against their customers, a practice that has led to a fraud probe against Goldman Sachs. Sen. Carl Levin (D.-Mich.) told The Wall Street Journal he drafted the legislation to prohibit companies "from taking the opposite side of the deal for their own account," at least when they are pushing investments they have created themselves. The legislation, co-sponsored by Sen. Jeff Merkley (D., Ore.), would come in the form of an amendment to the financial-overhaul bill being debated in the Senate. At a Senate ...
Carl Levin Will Go After Wall Street in Wake of Goldman Sachs Hearing
By Patricia Murphy - Politics DailyQuick -- who said, "Clearly, the world needs more regulation" at Tuesday's Senate hearing on Goldman Sachs? That comments came not from a Democrat on the panel, but from Goldman CEO Lloyd Blankfein, and he may get what he wants when Sen. Carl Levin (D-Mich.), the chairman of the panel, finishes amending the Wall Street regulation bill that the Senate could begin debating this week. Following the hearing of the Permanent Subcommittee on Investigations, which featured testimony from seven Goldman Sachs executives, Levin said he wants the bill strengthened in several ways in response to that ...
Goldman Sachs' 'Fabulous Fab' Denies Fraud Charges at Hearing
By Patricia Murphy - Politics DailyFabrice Tourre, the Goldman Sachs executive recently charged with fraud by the Securities and Exchange Commission, denied all accusations against him during an appearance before a U.S. Senate subcommittee Tuesday. "I deny categorically the SEC's allegations and I will defend myself in court against this false claim," he told the senators. Tourre has worked at Goldman since 2001 and described to the panel his role in investing for "sophisticated financial institutions" to manage their credit and market risks. "For the average person, the utility of these products may not be obvious," he said. ...
Goldman Sachs Executives Face a Grilling by Senate Panel
By Patricia Murphy - Politics DailySeven Goldman Sachs executives will appear before the Senate Permanent Subcommittee on Investigations on Tuesday, the panel behind some of the most infamous Congressional investigations in modern history, including crackdowns on organized crime, child pornography, the United Nations' oil-for-food scandal and the McCarthy hearings. Goldman chief executive Lloyd Blankfein and his colleagues will explain -- under oath -- their firm's role in pumping up the market for mortgage-backed securities that seemed like a sure bet, while they worked behind the scenes with a hedge fund to reap huge profits ...
Jobless Benefits Restored for 200,000-Plus
By Tom Diemer - Politics DailyBreaking a logjam, Congress voted to restore extended unemployment benefits to more than 200,000 Americans who were cut off for two weeks during a debate over how to pay for the $18 billion program. President Obama signed the bill into law Thursday night. Republicans have argued that cuts should be made in other programs to fund the unemployment benefits, which can extend to 99 weeks in some states. "What unemployed workers really want are jobs and paychecks, not almost two years of unemployment checks and more debt for our country," the New York Times quoted Rep. Kevin Brady (R-Tex.) as ...
The Brothers Levin: Liberal Without Apology
By Tom Diemer - Politics DailyStraight shooters, liberal without apology, unpretentious, low profile, and conscientious about public service and their obligations to their constituents and state. Those are some of the things that colleagues and reporters who have covered them say about Rep. Sander Levin and his younger brother, Sen. Carl Levin. Partisan political opponents and conservative activists are not as kind, especially when it comes to the liberal part. But after this week, all sides must also say that the Levins are among the most powerful brother combinations to ever walk the halls of Congress. And even now, ...
Senator: Afghan Security Forces Remain Weak Link
By Dale Eisman - AOL NewsWASHINGTON (Jan. 13) – American and Afghan troops are gaining ground in their drive to stabilize Afghanistan, but development of the Afghan security forces continues to suffer from a shortage of U.S. and allied trainers, Sen. Carl Levin, D-Mich., asserted today. Ending a three-day swing through Afghanistan and Pakistan, Levin told reporters that he found "very reassuring" signs that U.S. and Afghan forces are operating as partners against the Taliban and that the Afghans ultimately will be able to take charge of their own security. "The confidence level here of our leaders and the ...
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