The six senators who introduced legislation Thursday to slow down implementation of the "Volcker rule," designed to prohibit banks from profiting from trading on their own accounts, are the recipients of ample amounts of campaign cash from the financial industry.
Three Democrats and three Republicans are cosponsoring the effort to push back the effective date of a rule that has provoked bitter complaints from the banking industry. The Dodd-Frank law mandated that it go into effect July 21, the second anniversary of the financial regulatory overhaul. More than 17,000 comments have flooded into federal financial agencies. The proposed legislation ...Continue reading
Senators selected to work to combine the House and Senate financial regulation bills in a conference committee are some of... View ArticleContinue reading
In the 2004 Presidential election Ohio was a crucial battleground state, its electoral votes deciding the outcome. The surge in GOP activism and the excitement in the party have since subsided due to a series of high profile corruption scandals resulting in guilty pleas by the Governor, a chief Bush fundraiser, and a sitting congressman. All of these scandals will likely depress Republican voter turnout in a state with a toss-up Senate race, an open governor’s mansion, and four close House races. Local corruption issues, just like national ones, look to have a big impact on the midterm elections in important races.Continue reading