Monthly Archives: May 2010

Top Kill Method Fails –

After three days, the Top Kill method has failed and BP is already discussing alternative methods.  The oil and natural gas leak is one of the worst in history and plugging the well at a depth of 5,000 is very … Continue reading

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Top 5 DC Political Restaurants –

Congress.org has an article on the top 5 political restaurants in Washington.  The Capitol Hill Club is at the top of the list and Charlie Palmer’s Steakhouse also makes an appearance.  Four are available to the publice but The Capitol … Continue reading

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MMS Chief Resigns –

The head of the Minerals Management Service has resigned from the post.  There has also been a six month moratorium  placed on deep water drilling permits.  In addition, plans to drill off the Virginia coast have been cancelled and exploratory wells … Continue reading

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Roll Call House Overview –

One of the best sources for political news and analysis is Roll Call.  Roll Call has a recent article that provides an overview of the House elections.  The article cites a Rothenberg political report which indicates that 68 Democratic seats … Continue reading

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Djou Wins House Seat –

Djou cam in with almost 40% of the vote and won the special election in Hawaii.  The race has received a great deal of coverage mainly due to it being the district that Obama called home.  There were two Democrats … Continue reading

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FDIC Problem Bank List –

Financial news coming out of DC has not been all that pretty for the most part.  The FDIC problem bank list expanded to 775 which is 10% higher than the previous quarter.  The FDIC insurance fund is also still in the … Continue reading

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Specter Defeated –

Democratic Senator Arlen Specter lost a primary battle to Joe Sestek in the election on Tuesday.  Specter switched from the Republican party in an attempt to avoid a primary with Pat Toomey.  If elected, it would have been the sixth term … Continue reading

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Primary Day –

A number of primaries are being held today and the outcome will have a great effect on the next Senate.  Specter is facing a primary challenge from Sestak on the Democratic line.  Specter switched parties and a loss in this … Continue reading

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Candidates Raise Money For 2012 –

Although it is still two years away from their elections, some 2012 Senate candidates are raising money like it’s an election year.  Four Democrats are mentioned in a recent Congressional Quarterly article that discusses candidate fundraising.  McCaskill, Feinstein, Kohl and … Continue reading

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Republicans Select Tampa –

The Republican convention in 2012 will be held in Tampa Florida.  A Republican National Committee panel recommended Florida and it is the best possible choice for the Republicans.  The move will help secure the 27 electoral votes for the Republican … Continue reading

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Carried Interest –

Five Senators are attempting to have venture capital managers exempt from a tax increase that would effect carried interest.  Carried interest has been treated as long term capital gains which is a significantly lower tax rate.  The Senators cited the … Continue reading

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Federal Reserve Maintains Oversight –

The Federal Reserve held onto political independence and banking oversight responsibilities in two separate amendment votes.  According to Bloomberg, one vote was 90-9 to void an amendment to strip some of the Federal Reserve’s oversight responsibilites.  To read a related … Continue reading

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Insurance Tax Break –

Bloomberg reports that parents who add children under 26 to their employer provided health insurance can get get a tax break.  It is reported that the regulations allow for a deduction for the cost of insurance if the premium is … Continue reading

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Senate Approves Audit –

The Senate voted 96-0 and approved an amendment to the Financial Reform bill that provides for a one time audit of the emergency lending by the Federal Reserve.  The measure was submitted by Senator Sanders and allows for an audit of … Continue reading

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Financial Regs & Market Plunge –

Senate Democrat Christopher Dodd is one of the major supporters of the Finacial Reform legislation.  He is also one of the Senators pointing to the stock market drop as an example of the need for the legislation.  There have been reports … Continue reading

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