Wednesday, July 28, 2010

Washington:Rep Rangel said he hoped to reach a settlement with House ethics investigators

·         Fed votes due in Senate Banking Committee on Wed (votes for three candidates being named to the Fed board); approval seen likely according to Bloomberg.  Bloomberg 

·         New study says the policies of Bush and Obama helped avert a second great depression - economists argue that without the Wall Street bailout, the bank stress tests, the emergency lending and asset purchases by the Federal Reserve, and the Obama administration’s fiscal stimulus program, the nation’s gross domestic product would be about 6.5 percent lower this year.  NYT    
·         Obama finally gets war funding bill passed through Congress ~6 months after making the quest (this is to pay for the 30K+ troop surge in Afghanistan); The House of Representatives gave final approval to $37 billion in funding for the war effort by a vote of 308 to 114 but more Republicans than Democrats voted for it. In all, 102 House Democrats voted "no.”  The Senate voted to approval earlier.  Reuters   
·         Dems expand the amount of seats they consider in play - Democrats added another 20 House seats to their list of targeted districts, officials confirmed Tuesday evening, raising the party’s commitment in television advertising for the final weeks of the campaign to more than $49 million – NYT     

·         Rep Rangel said he hoped to reach a settlement with House ethics investigators, while signs emerged that moderate Democrats might call for the his ouster; Politico says there is “no deal in sight for Rangel” – WSJ/Politico. 
·         Obama heads to NYC on Wed for a pair of high profile fund raisers; Two events benefiting the Democratic National Committee are planned for Wednesday evening, each with a ticket price of $30,400 (WSJ)   
·         MTA to unveil new higher transportation fares on Wed – NYT    
·         Campaign finance bill appears dead for the moment – WSJ

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