Scott Brown(R-Mass) Winning Fight For Loophole In Volcker Rule
In the battle between Scott Brown and Russ Feingold over financial reform, Scott Brown appears to be winning.
Senate staffers tonight are hammering out the shape of the so-called Volcker rule, which would limit insured financial firms' ability to take speculative bets with their capital, or prohibit it altogether.
Brown for weeks has been seeking a carveout in the legislation--originally authored by Sens. Carl Levin (D-MI) and Jeff Merkley (D-OR)--that would allow banks to invest a portion of their profits in hedge and private equity funds. And as the 60th vote for financial reform, his demands carry a lot of weight. Enter Feingold, who opposed financial reform from the left. After discussions with, and public pressure from, pro-reform groups, Feingold has toyed with the idea of changing his vote from 'no' to 'yes', becoming the new 60th vote and robbing Brown of his leverage--if the Volcker rule survived loophole free.
Multiple sources tonight say that in all likelihood the hedge fund loophole (known as a 'de minimis exemption') will be included in the offer that the conference committee considers this week.
One of the major fsctors that lead to the current economic wreckage is antiregulation fever. Brown appears to be a cheerleader for the next meltdown keeping America's greediest and laziest happy at the expense of working Americans..
Conservative media defend BP against "shakedowns," "show trials," and environmentalists at least 62 times
Media Matters has identified at least 62 recent instances of media conservatives defending BP, 38 of which occurred on the Fox News Channel, Fox Business, the Fox Nation, or the talk shows of Fox News hosts. There were at least 21 criticisms of BP's escrow account as an Obama "shakedown" or "slush fund," 10 attacks on President Obama for supposedly "demonizing" BP, 15 examples of conservatives deriding investigations of the company, 12 claims that environmental regulations are responsible for the spill, and five absurd conspiracy theories about the spill.Republicans in Congress are not representatives of the people; they're lobbyist for special interests whose salaries are paid for by tax payers. The tax payers they are intent on giving the shaft for their friends at BP.
Right-wing media portray BP as the victim of a "shakedown"
Freedom of speech? Not when it offends the new god of right-wing conservatism Glenn Beck - Bob Inglis's Defeat Sends Warning Signal To GOP: Don't Badmouth Glenn Beck
The landslide defeat of Rep. Bob Inglis (R-SC), who lost his Republican primary last night by a whopping 71%-29% margin against Spartanburg County Solicitor Trey Gowdy, could provide a stern warning to Republicans everywhere: If you deviate from the talk-radio and Tea Party line, this could happen to you.
In interviews this morning, two separate Republican sources cited to me two key events in Inglis's political downfall: When he told a town hall meeting last year to turn off Glenn Beck, and when he voted with House Democrats in September 2009 to reprimand Rep. Joe Wilson (R-SC) for yelling "You lie" at President Obama during a speech to Congress. Other factors that were cited included Inglis's vote for the TARP bailout -- an issue that also helped sink Sen. Bob Bennett (R-UT) at his state Republican convention in May -- and his work on the issue of climate change.
Two short years ago Inglis was far right-wing conservative - a smiley faced fascist - now he is not far Right enough. That tells everyone how out of touch Republicans have become and intend on staying.
