Jamesb101.com

commentary on Politics and a little bit of everything else

There Will Be a Financial Reform Bill with GOP Senate support……

The Dog predicted that there would be a “Wall Street’  Financial Reform Bill …..

And I also reported that The House Republicans will support the Bill……

I also said that the GOP senators would come around and join the vote for the bill…..

Well that’s gonna happen people…….

First ….The Goldman Sachs story has left the station and the Democrats …with the Bill have all the seats…..

Second….as I pointed out in my first post……Why not run against Wall Street this fall?

Third…….The Democrats…tired after the Healthcare fight are being more flexible….

Fourth.…the $50 Million  ‘Resolution Fund’ provision is going…going…gone….

Fifth…The Republican’s won’t say this out loud…but …they lost any control over the Healthcare Bill by staying away from it…..

They won’t do that again…..

"I believe this is the strongest Wall Street reform bill that we have seen to date," said Sen. Blanche Lincoln (D-Ark.). She is backing a measure that aims to increase transparency in derivatives markets.

[ I believe this is the strongest Wall Street reform bill that we have seen to date,” said Sen. Blanche Lincoln (D-Ark.). She is backing a measure that aims to increase transparency in derivatives markets. ]

Note….The Democrats are letting ‘in trouble’ Arkansas Senator Blanche Lincoln get all the glory on this one…..

Can this save her seat?

After a week of attacking the proposals as paving the way for new taxpayer “bailouts,” Minority Leader Mitch McConnell (R-Ky.) said on the Senate floor that he was “heartened to hear that bipartisan talks have resumed in earnest.” Later, after a meeting with fellow Republicans, he told reporters that while he believes that there are still serious flaws in the legislation, “I’m convinced now there is a new element of seriousness attached to this, rather than just trying to score political points. . . . I think that’s a good sign.”

The change in tone came as the Security and Exchange Commission’s lawsuit against Goldman Sachs for allegedly defrauding investors continued to dominate headlines, underscoring public anger at Wall Street and reminding lawmakers of the potential consequences of inaction. In the corridors of the Capitol, members of both parties, as well as a sea of lobbyists from across the financial spectrum, jockeyed to shape key provisions of the wide-ranging legislation before it hits the Senate floor.

The massive bill put forth by Sen. Christopher J. Dodd (D-Conn.) would create a new consumer protection bureau within the Federal Reserve to guard against lending abuses. It also would create oversight of the enormous derivatives market, reduce the regulatory powers of the Fed and give the government authority to wind down large, troubled financial institutions in an orderly way.

Half a dozen Republican senators met behind closed doors this week with Treasury Secretary Timothy F. Geithner and raised their concerns about the bill, including its impact on community banks and small businesses, as well as whether its creation of a $50 billion “resolution fund” would open the door to future taxpayer-funded bailouts.

Democrats have been unwilling to alter the legislation without a guarantee that it would bring Republican votes.

More……..

April 21, 2010 Posted by | Blogs, Breaking News, Government, Law, Media, Men, Other Things, PoliticalDog Calls, Politics, The Economy, Updates, Women | , , , | 1 Comment

The Financial Reform Bill has House GOP support but is still looking for Senate Bipartisanship…..

In a somewhat repeat of the Healthcare Bill……

The Senate Republicans are standing united to get a foothold in the upcoming Financial Reform Bill……

While its driving the Democrats a little crazy..the strategy has had a little movement by the dem’s to accommodate the GOP’s concerns…..

Late word is that a $50 Billion stand by fund advanced by Democrats  is expendable by the White house after Sen. Snowe voiced concerns about it……

There will be a Bill…..

Even though the 41 Republican Senators have indicated they won’t vote for it…..

We just have get through the horse trading that always goes on…..

And what politician wouldn’t like to run against Wall Street in the fall?

The difficulty Democrats have found in winning GOP support for campaign finance reform, an issue that has attracted Republicans in the past, reflects the highly partisan atmosphere in Congress, which has only intensified since the healthcare debate.

Republicans supportive of the Citizens United decision, which would allow unlimited corporate and union spending on individual campaigns, have attacked the Democratic effort as politically motivated, noting that the chief sponsors are Van Hollen, the current chairman of the Democratic Congressional Campaign Committee, and Schumer, the former head of the Democratic Senate campaign arm.

With Sen. John McCain (R-Ariz.), a longtime champion of greater restrictions on campaign finance, sidelined in a tough reelection primary fight, Democrats had set their sights on the newest GOP celebrity with centrist appeal, Sen. Scott Brown (Mass.), the freshman Republican who won the seat held by the legendary Sen. Edward Kennedy (D) for decades.

After weeks of courting, however, Brown turned down the Democrats late last week, according to spokeswoman Gail Gitcho and several sources close to the negotiations. Brown delivered the news to Schumer on the Senate floor Thursday.

“Sen. Brown’s priorities continued to be jobs, the economy and national security,” Gitcho explained when asked why he declined to co-sponsor.

More……..

April 20, 2010 Posted by | Blogs, Breaking News, Government, Law, Media, Other Things, PoliticalDog Calls, Politics, The Economy, Updates | , , | Leave a comment

Here we go again!…The GOP wants to rewrite the Wall Street Regulations Bill…..

De Ja’ Vu…..

The Healthcare Bill dance all over….

Didn’t we just do this?

I suppose that’s how the system works…..

We can look forward to hand-wring, name calling, side deals for certain state, presidential calls and peep talks, Wall Street bashing and media hype…..plus a big dose of watering down the language…..

In the end there will be rules…..

Which the Wall Street people will figure out how to get around in ten minutes and make even MORE money…..

All 41 Senate Republicans have signed a letter to Senate Majority Leader Harry Reid (D-Nev.) urging him to reopen bipartisan negotiations on a Wall Street reform bill.

The unified Republican front puts pressure on Democratic leaders to make revisions to legislation drafted by Senate Banking Committee Chris Dodd (D-Conn.) with substantial input from the White House.

“We are united in our opposition to the partisan legislation reported by the Senate Banking Committee,” Republicans wrote in the letter. “As currently constructed, this bill allows for endless taxpayer bailouts of Wall Street and establishes new and unlimited regulatory powers that will stifle small businesses and community banks.”

The letter is significant because it presents a unified front and shows Reid that he cannot pass financial regulatory reform without making some changes. Democrats need at least one Republican vote to muster the 60 needed to overcome various procedural objections.

The letter, however, is not as strong as some GOP lawmakers described earlier in the week.

More……..

April 16, 2010 Posted by | Blogs, Breaking News, Counterpoints, Government, Law, Media, Men, Other Things, PoliticalDog Calls, Politics, The Economy, Updates, Women | , , , | Leave a comment

The Democrats look at the GOP offerings…..Give Bipartisanship a chance?

Has President Obama ‘s talking summit kindled the spirit of bipartisanship?

Or has the Republican’s grip singled that the Democrats need some GOP votes?

Whatever….

The Dog is happy both parties are talking…..true governance is both power centers working to gether…..

And that gives the Dem’s cover…..

There is a growing sense among Democratic lawmakers that an effort should be made to include GOP proposals in healthcare reform legislation in the wake of Thursday’s summit.

This has given an opening to centrist Democrats who want to take on trial lawyers by reforming medical malpractice law. These centrists say that Republican policy makers have made a strong case for lawsuit reform and it would be in the best interests of healthcare reform to meet them part-way.
News organizations have largely characterized the meeting between President Barack Obama and congressional leaders as a stalemate.

But while some liberal activists say Democrats should ram legislation through the Senate using special budget rules that require only a simple majority vote, Democratic leaders have taken a different view.

Speaker Nancy Pelosi (D-Calif.) said Friday that Obama “has a vision and he wants to build consensus.”

Pelosi noted that Democrats spent weeks negotiating with Republicans on the Senate Finance Committee to reach a bipartisan agreement, adding that Obama “still has the door open to that.”

“Hopefully, we can find some initiatives to incorporate into the bill,” she said.

Democrats acknowledge there is little chance that any Republicans will vote for the controversial health bill. But some argue that including GOP proposals will give the legislation more “bipartisan appeal” and make it easier for centrist Democrats to support.

More………

February 27, 2010 Posted by | Breaking News, Counterpoints, Government, Media, Other Things, PoliticalDog Calls, Politics, Updates | , , | Leave a comment

From Nate Silver over @ FiveThirtyEight….Is 56 is the New 60?

FiveThirtyEight: Politics Done Right

Fom Nate Silver over @ FiveThirtyEigtht……..

The Senate’s vote this afternoon to end a filibuster on Harry Reid’s scaled-down jobs bill, which passed with not one but five different Republican votes (Scott Brown of Massachusetts; Olympia Snowe and Susan Collins of Maine, and the retiring Kit Bond and George Voinovich) was interesting on a number of levels. For one thing, it suggests that a bipartisan process, which Reid aborted on this bill after complaints that it had been laden down with unrelated provisions, is not necessarily that highly correlated with a bipartisan outcome.

There’s More…

If he’s right……. the Democrats will be better and can thank Senator Scott Brown for his loud and clear win…and warning…..

February 23, 2010 Posted by | Blogs, Breaking News, Government, Law, Media, Other Things, PoliticalDog Calls, Politics, Updates | , , , , , | Leave a comment

The new reality in the Congress…Bipartisanship…..

The Dog advised for this from the jump on Healthcare….get a few Republicans…the liberal’s and progressive wanted to go it alone……

That didn’t work…..Now we are back to basic’s…….

With their 60-vote Senate majority officially kaput and their health care reform efforts stuck in limbo, Democrats in Congress will complete a pivot away from health reform Tuesday to begin work on a bill designed to chip away at the nation’s stubbornly high unemployment rate.

But instead of going it alone, Senate Majority Leader Harry Reid is in the process of working with senior Republicans, including Orin Hatch and Chuck Grassley, to craft the measure to win GOP support for it early on. Without a filibuster-proof majority, he doesn’t have much choice.
“We want to work with the Republicans. And it appears to me on the jobs programs they want to work with us,” Reid said last Thursday when he announced his plans to take up a jobs bill.

Reid had scant details then about the plan, but he did give the broad outlines of what Senate negotiators, including Finance Committee Chairman Max Baucus, have been working on.

“It’s a plan that will create the right conditions for the private sector to hire more people,” Reid said. “It’s a plan for both our short-term recovery and our long-term prosperity. We believe we will do it in the right places.”

More specifically, other senators said last week they want the bill to include tax credits for small businesses that expand their workforces, an additional extension of unemployment benefits and COBRA subsidies, a lending program to generate capital for small businesses and a plan to help cash-strapped states dealing with severe budget shortfalls.

In addition to jobs, the House and Senate will take up half a dozen items in committees or behind closed doors on issues that, in some cases, fell by the wayside as health care dominated the agenda last year. The week’s* hot topics include:

More……..

And this from the Dog……

In the end this helps the Democrats and Reid…bouyed by Obama’s win …Democrats wrongly thought they go it alone…..The Dogs biggest worry about Obama’s win was that Democrats would lose the natural brake of a oppostion to make them relevant…That occured for the last year…The socalled Scott Brown effect has brought them down to earth….The Dog always argued that having a few Republican’s signing up on Healthcare was desireable….and when that didn’t happen no amount of democratic dancing would work….in addtion, having things that way gave the President no cover and he’s not really one to go before the American public without covering his butt…Barack Obama is not a natural-born fighter……

And so the Congress goes back to bargaining with both parties…which provides cover and makes life a lot easier in Blue Dog and voter angry districts…..

February 11, 2010 Posted by | Breaking News, Counterpoints, Government, Law, Media, Men, Other Things, PoliticalDog Calls, Politics, Polls, The Economy, Updates, Women | , | Leave a comment