FROM James Barth
Finance Reform under the Microscope A joint committee reached a surprise compromise last week on finance reform, and President Obama wanted both houses to pass it by the Fourth of July. But the death of Senator Robert Byrd deprived Democrats of a crucial vote, and today Massachusetts Republican Scott Brown pulled out , citing a $19 billion fee he called an unacceptable tax.
Finance Reform under the Microscope President Obama calls the finance reform compromise the biggest thing of its kind since the Great Depression, and he wants it on his desk by the Fourth of July. But the sudden death of Robert Byrd means one less Democratic vote in the Senate, and familiar questions are being raised all over again. Could banks still be "too big to fail?" Would consumers get better protection? Why would the mortgage giants Fanni Mae and Freddie Mac be left as they are? Will liberal Democrats or moderate Republicans get cold feet?
Finance Reform: Public Anger and Partisan Politics Yesterday, all the Senate Republicans and one Democrat voted not to allow a finance reform bill to go to the floor for debate. They claim they're trying to make improvements before they vote on the measure itself.
Roadblock on the Path to Financial Reform As a Senate committee was grilling Goldman Sachs executives today, Democrats called for another vote on finance reform , less than 24 hours after the last one. They claim all the Republicans voted "no" yesterday to protect Wall Street from a real crackdown. Republicans insist they just want a better bill. Behind the political theater, both sides seem to expect eventual action, because public anger has reached high-level intensity in this election year. Will the current measure shrink banks that are too big to fail? Will it protect taxpayers against future bailouts? Do we need more — or better — regulation?
The Rescue Plan and Its Possible Consequences After a weekend of political drama and late-night negotiations, Congress took up the latest version of the Wall Street rescue plan . With a price tag of $700 billion, nobody said they liked it, but supporters insisted the American people would be worse off without it. Opponents said it would never work. We hear the latest about what's in the plan and why is has just filed to pass a vote in the House. After their first debate , with no knockouts and no big mistakes, John McCain and Barack Obama are both claiming they made the bailout better. We hear from them.
House Republicans release their Obamacare replacement As two House committees take up "repeal and replacement" of "Obamacare," there may be life left in the Affordable Care Act after all. Even Republicans are divided, and proposed changes won't make good on President Trump's promise to provide "health insurance for everybody."
'Do-or-die' time on healthcare bill President Trump has demanded a House vote today on replacing Obamacare…whatever the details might be. Despite his campaign promise that nobody would lose health insurance, that's possible for 24 million people if he were finally to sign this bill into law.
The 'deconstruction' of the administrative state President Trump has failed to fill high-level positions in important agencies — and some people he has named want to phase out the agencies they're supposed to lead. We look at the possible consequences for delivering services and providing security — and at top aide Steve Bannon's plans for "deconstructing the administrative state."