Obama to sign historic financial overhaul bill

Obama to sign historic financial overhaul bill

President Barack Obama claims a moment of history Wednesday as he signs into law the most sweeping finance reform since the 1930s Great Depression. The legislation, which some Republicans have already pledged to repeal if they regain power in Washington, will fundamentally overhaul the US government’s regulation of Wall Street and create a political legacy […]

Kagan nomination clears Senate panel

Kagan nomination clears Senate panel

President Barack Obama‘s second US Supreme Court pick, Elena Kagan, drew one step closer Tuesday to being just the fourth woman to reach the high bench as a key senate committee backed her nomination. The Senate Judiciary Committee tasked with vetting Kagan voted 13-6 to send her nomination to the full Senate, where her all-but-certain […]

Obama goes into attack mode

Obama goes into attack mode

Barack Obama has decided that fiery self defense and withering mockery of Republicans are the best modes of attack as he tries to save Democrats from a drubbing in November’s mid-term elections. The US president road-tested his pitch to grassroots Democrats and wavering independent voters during a two-day western campaign swing last week, flinging partisan […]

Rich more likely to default on mortgages

Rich more likely to default on mortgages

No need for tears, but the well-off are losing their master suites and saying goodbye to their wine cellars. The housing bust that began among the working class in remote subdivisions and quickly progressed to the suburban middle class is striking the upper class in privileged. Whether it is their residence, a second home or […]

Problem for GOP: Where’s the passion?

Problem for GOP: Where’s the passion?

Republican senators have already blamed the breezy confirmation process for Elena Kagan on simple math, saying Kagan’s confirmation to the Supreme Court is already ensured with 58 Democrats in the Senate. But the GOP has more than just a math problem with Kagan. It has a passion problem — the party, which has used judicial […]

Wall Street pulling plug on donations to Democrats

Wall Street pulling plug on donations to Democrats

A revolt among big donors on Wall Street is hurting fundraising for the Democrats’ two congressional campaign committees, with contributions from the world’s financial capital down 65 percent from two years ago. The drop in support comes from many of the same bankers, hedge fund executives and financial services chief executives who are most upset […]

Possible Reid endorsement puts NRA under the gun

Possible Reid endorsement puts NRA under the gun

The National Rifle Association  is in unfamiliar terrain on the conservative firing range this election year: It’s the target. The conservative Netroots are abuzz over the possibility that the NRA may endorse Senate Majority Leader Harry Reid (D-Nev.). This would be the second major slight by the NRA for political conservatives — the gun group […]

Sen. Robert Byrd dead at 92

Sen. Robert Byrd dead at 92

Robert Byrd, 92, the longest serving Senator in American history, died this morning in a Washington area hospital. The West Virginia lawmaker was admitted last week for heat exhaustion and dehydration but his condition was far more serious. “However, upon further examination by his doctors, other conditions have developed which has resulted in his condition […]

BP claims progress in capping oil-spewing well

BP claims progress in capping oil-spewing well

BP appeared to make progress early Saturday in capping the worst oil spill in US history, but President Barack Obama warned the British energy giant not to shortchange victims of the disaster. BP offered the first positive signs since the massive oil leak began April 20, placing a cap on a ruptured pipe, which appeared […]

Government debt reaches record $13 trillion

Government debt reaches record $13 trillion

US debt has reached 13 trillion dollars for the first time in history, the Treasury Department said Wednesday, stoking a political furor over government spending. Amid vast government outlays designed to end the economic crisis, the debt reached a record 13,050,826,460,886.97 dollars on June 1, according to official figures. The debt has increased by around […]

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