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☆ The GOP push to censure Adam Schiff may only help his Senate campaign in California
▼ + stars: | 2023-06-21 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

But with Schiff running for Senate as a #Resistance hero, the censure is only likely to help him. His Senate campaign fundraised heavily on it, and he thanked his GOP colleagues in a floor speech. In a floor speech earlier on Wednesday, Schiff thanked his Republican colleagues for bringing the censure resolution, saying he stood "proudly" before them. The censure resolution alleges that Schiff "misled the American people and brought disrepute upon the House of Representatives" for his handling of the Trump-Russia investigation. Schiff has also led Porter in recent fundraising, though the congresswoman has amassed a large war chest from her House campaign account.

Persons: Adam Schiff, Schiff, fundraised, —, Paul Gosar of, Alexandria Ocasio, Cortez, Anna Paulina Luna, MAGA, we've, Donald Trump, Trump's, he's, Doug LaMalfa, John Duarte, Trump, Kevin Kiley, I'm, Marjorie Taylor Greene, Georgia excoriated Schiff, Katie Porter, Barbara Lee, Porter Organizations: Senate, GOP, Service, Republicans, Representatives, Republican Rep, Democratic Rep, MAGA Republicans, Trump, House Intelligence, Republican, Democratic Locations: California, Paul Gosar of Arizona, Alexandria, Cortez of New York, California's, Russia, cahoots

☆ Steve Garvey, All-Star for the Dodgers and Padres, Explores Senate Run in California
▼ + stars: | 2023-06-02 | by ( Neil Vigdor | ) www.nytimes.com time to read: 1 min

Steve Garvey, a perennial baseball All-Star in the 1970s and 1980s for the Los Angeles Dodgers and San Diego Padres, said on Friday that he was weighing a run for the United States Senate in California as a Republican. a celebrity name in the high-profile race to replace Senator Dianne Feinstein, 89, a Democrat, who is the chamber’s oldest member and is retiring at the end of her term. She has recently struggled with health problems that have prompted calls from some fellow Democrats for her to retire sooner. In heavily Democratic California, the race has drawn tepid interest from Republicans. California hasn’t elected a Republican to the Senate since 1988, and a host of prominent Democrats are waiting in the wings, including Representatives Adam Schiff, Katie Porter and Barbara Lee.

Persons: Steve Garvey, Dianne Feinstein, Adam Schiff, Katie Porter, Barbara Lee Organizations: Los Angeles Dodgers, San Diego Padres, United States, Republican, Democrat, Republicans, California hasn’t Locations: California, Democratic California

☆ California Rep. Ro Khanna again calls on Dianne Feinstein to resign over health concerns: 'It's painful to watch.'
▼ + stars: | 2023-05-20 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Rep. Ro Khanna said it was "painfully obvious" that Sen. Feinstein should no longer serve in office. "I think they should have a loving conversation about it being time," Khanna said of Feinstein's confidantes. "First, let me say, I admire her career," Khanna told Wagner. Upon her return to the Senate, Feinstein appeared disoriented as an aide whisked her through the Capitol, according to The Times. "While she has had a lifetime of public service, it is obvious she can no longer fulfill her duties.

☆ With Feinstein Ailing, Newsom’s Vow Looms Over Senate Race
▼ + stars: | 2023-05-19 | by ( Thomas Fuller | Shane Goldmacher | ) www.nytimes.com time to read: +1 min

Two years ago, Gov. Gavin Newsom of California vowed on national television that if Senator Dianne Feinstein stepped down early, he would appoint a Black woman to replace her. It was a promise that was only theoretical at the time even though questions were already emerging about the fitness of Ms. Feinstein, who turns 90 next month, to serve out her term. But after Ms. Feinstein contracted shingles earlier this year, was homebound and then returned to Washington frailer than ever, the contingency plan has become far more pressing — and more politically complicated. Now, if a vacancy comes, Mr. Newsom would have to decide whether to elevate Ms. Lee over her white rivals or find a caretaker who would agree not to seek a full term in 2024, presuming he keeps his pledge.

☆ Pelosi's daughter is Dianne Feinstein's primary caregiver at the Capitol, but the former speaker denies using the relationship to help her protégé replace the aging senator
▼ + stars: | 2023-05-18 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Since Dianne Feinstein returned to office in May, Nancy Pelosi's daughter has been alongside her. A recent report from Politico suggested Pelosi could be using her daughter to keep Feinstein from retiring, possibly helping Rep. Adam Schiff's chances of replacing her. Pelosi's office denied any political motives for aiding Feinstein. Feinstein, 89, missed several months of votes in the Senate due to her diagnosis in February before returning in May. And earlier this week, Feinstein denied ever missing time away from the Senate due to shingles.

☆ Dianne Feinstein claimed she hasn't 'been gone' when asked about her lengthy absence from the Senate: 'No, I've been here. I've been voting'
▼ + stars: | 2023-05-16 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

Sen. Feinstein insisted to reporters on Tuesday that she hasn't been absent from the Senate. I've been voting," she told LA Times' Ben Oreskes at the Capitol on Tuesday. The 89-year-old senator returned to Washington last week after a nearly 3-month-long absence. "No, I haven't been gone," she told the Times' Ben Oreskes on Tuesday when asked how her Senate colleagues have responded to her return. Feinstein then reportedly deflected a question about lawmakers calling for her to resign before an aide wheeled her away.

☆ Dianne Feinstein once mistook GOP Sen. Tim Scott for Democratic Sen. Raphael Warnock, book says
▼ + stars: | 2023-05-11 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

Dianne Feinstein once mistook two different Black senators, according to a story relayed in a new book. She confused GOP Sen. Tim Scott for Democratic Sen. Raphael Warnock, saying she'd been rooting for him. Scott reportedly played along, telling Feinstein that her "support means a lot." Scott, a Republican who's served in the Senate since 2013, is said to have played along with Feinstein's apparent confusion. Dean Phillips 🇺🇸 🟧 (@RepDeanPhillips) April 12, 2023But on Wednesday, Feinstein finally returned to the Capitol, continuing to suffer balance and vision impairments.

☆ Dianne Feinstein returns to the Senate following a nearly 3-month absence and calls for her resignation from fellow Democrats
▼ + stars: | 2023-05-10 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +2 min

Sen. Dianne Feinstein returned to the US Senate on Wednesday. Several fellow Democrats called for her to resign, arguing her absence imperiled their party's agenda. The 89-year-old California Democrat returned this week after spending nearly 3 months away from Washington due to complications from a shingles infection. But her prolonged absence created a deadlock on the Senate Judiciary Committee, preventing Democrats from swiftly advancing nominees to the floor that lacked Republican support. Feinstein arrived at the Capitol just before 3pm on Wednesday and was greeted by Senate Majority Leader Chuck Schumer.

CNN —Democratic Sen. Dianne Feinstein of California, who has been away from the Senate since February while recovering from shingles, will return to Washington on Tuesday, according to a spokesperson. Feinstein sits on the Senate Judiciary Committee, and without her vote on the panel, Democrats said that they would have to delay some of President Biden’s key judicial nominees. In April, Democratic Rep. Ro Khanna of California became the first member of Congress to call on Feinstein to resign. In April, the California senator asked Senate Majority Leader Chuck Schumer to temporarily replace her on the Judiciary Committee, and he proposed that Maryland Sen. Ben Cardin take her spot. She needs to get well so she can get back to work,” Iowa Sen. Chuck Grassley, who is also 89, said.

☆ Photo of Chuck Schumer's notes show he's 'hopeful' Dianne Feinstein returns to the Senate next week
▼ + stars: | 2023-05-03 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Chuck Schumer and Dianne Feinstein are "hopeful" she'll return to the Senate next week, per a photograph of Schumer's notes. Feinstein hasn't voted in the Senate since mid-February, around the time of her shingles diagnosis. In her absence, Senate Democrats have faced difficulties confirming judges. With Feinstein absent from the Senate, Senate Republicans — along with Democratic Sen. Joe Manchin — voted 50-49 to roll back a Biden-era Environmental Protection Agency rule regarding pollution from trucks. Several prominent California Democrats have already declared to run for her seat, including Reps. Adam Schiff and Katie Porter.

☆ These are the top Senate races to watch in 2024
▼ + stars: | 2023-04-28 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +8 min

They have reason to be hopeful: Democrats face a daunting 2024 Senate map that puts them on defense in 23 of the cycle's 34 races, including multiple seats considered ripe for GOP challenges. The grim outlook has some Senate Democrats considering retirement, even after the caucus expanded to a 51-49 majority following a better-than-expected showing in the midterms. Jim Justice, reportedly the state's richest man and one of its favored contenders for the Senate race. But the 2024 Senate race in Ohio is currently considered a toss-up, as Republicans have made significant gains in the state in the last two election cycles. Sabato's Crystal Ball and the Cook Political Report both say the Michigan Senate race leans Democratic.

☆ Rep. Katie Porter recounts her frustration at having to explain housing policy to onetime HUD secretary Ben Carson during a congressional hearing: 'I was tutoring a neurosurgeon'
▼ + stars: | 2023-04-16 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Rep. Katie Porter detailed an odd 2019 exchange she had with Ben Carson over housing policy. Carson was unaware of the term REO and thought she said Oreo, as in the cookie sandwich. But Carson thought she was talking about a cookie — an Oreo to be specific. Porter detailed how she asked Carson if he knew the meaning of an REO during the hearing. "Secretary Ben Carson, the man in charge of housing for our nation, asked me if I meant 'Oreo.'

☆ House Dems start to call on Sen. Dianne Feinstein to resign
▼ + stars: | 2023-04-12 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Two Democratic members of Congress just called on Sen. Dianne Feinstein to retire. "I agree with @RoKhanna," Phillips wrote, "Senator Feinstein is a remarkable American whose contributions to our country are immeasurable. Feinstein, who's 89 years old, hasn't cast a vote since mid-February, around the time of her shingles diagnosis. Feinstein currently sits on the Senate Judiciary Committee, where Democrats hold 11 votes to the Republican Party's 10. Without Feinstein present, committee chair Sen. Dick Durbin has for delay committee meetings on multiple occasions when Feinstein would be the pivotal 11th vote, according to NBC News.

☆ High egg prices send profits at largest US producer soaring more than 700%
▼ + stars: | 2023-03-29 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Cal-Maine Foods, the largest egg producer in the United States, reported revenue doubled and profit surged 718% last quarter because of sharply higher egg prices. Despite the higher prices, the total number of eggs it sold edged up 1%, so its overall revenue rose 109% to $997.5 million. A deadly and highly infectious avian flu has forced US farmers to kill millions of egg-laying hens, reducing the country’s egg supply and driving up prices. Egg producers’ pricing decisions have been criticized by some politicians, who accuse them of profiteering and price gouging. Egg prices did start to retreat slightly in the government’s most recent inflation reading for February, but are still up more than 55% from a year earlier.

The first test in the race to replace Sen. Dianne Feinstein of California is a year away, but the top three contenders are already furiously raising money, crisscrossing the state and amassing endorsements in what could become one of the most expensive statewide contests in recent memory. Reps. Barbara Lee , Katie Porter and Adam Schiff have been hitting the campaign trail hard, shoring up support and introducing themselves to new voters since Mrs. Feinstein announced in February that she would retire at the end of her term. The trio are some of the biggest names in Democratic politics but the field appears wide open, with no candidate drawing more than a quarter of the vote in an early poll.

☆ California Rep. Ro Khanna passes on Senate run and backs liberal icon Barbara Lee over Reps. Katie Porter and Adam Schiff: 'She stood up so strongly against the war in Iraq'
▼ + stars: | 2023-03-26 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Ro Khanna on Sunday announced that he's backing Rep. Barbara Lee in the 2024 California Senate race. The progressive congressman is endorsing Lee over fellow Democratic Reps. Katie Porter and Adam Schiff. Khanna during his announcement said that Lee would bring a "unique voice" to the upper chamber. Rep. Barbara Lee of California. Scott Applewhite, File"Barbara Lee is a unique voice," Khanna said.

☆ Treasury Secretary Janet Yellen said the SVB collapse is 'very different' from the 2008 crisis and that the financial system is 'significantly stronger than it was 15 years ago'
▼ + stars: | 2023-03-21 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

In prepared remarks, Treasury Secretary Janet Yellen said the SVB situation is very different from 2008. "Our financial system is also significantly stronger than it was 15 years ago," she said. Dean Baker, a senior economist at the Center for Economic and Policy Research who predicted the 2008 housing bubble crash, told Insider that "this is not a 2008, 2009 story at all." "To this day I always argue with people, the problem was the housing bubble. "But the real problem was that the housing market was driving the economy — a housing bubble, and it collapsed, and there was no easy replacement for that.

☆ Op-ed: ESG investing and 2018 change in bank laws didn't cause Silicon Valley Bank to collapse, says former Sen. Heitkamp
▼ + stars: | 2023-03-21 | by ( Heidi Heitkamp | Former Democratic U.S. Senator North Dakota | ) www.cnbc.com time to read: +6 min

Within hours of the Silicon Valley Bank collapse, political spin machines on both the left and right got cranking. I was one of the Democrats on the Senate Banking Committee who negotiated that legislation, which granted regulatory relief to small community and mid-sized regional banks. Under the burden of increased regulation, smaller institutions and many regional banks were struggling to stay competitive. If all the bank depositors withdrew their deposits on the same day, any bank would fail regardless of liquidity or bank capitalization.) The Fed had the authority to enhance the current level of regional bank supervision, a step the central bank is considering in the wake of the SVB failure.

☆ Regulators need to report SVB executives' potential 'outrageous and indefensible' behavior to Congress to avoid mistakes made after the 2008 financial crisis, 2 top Democrats say
▼ + stars: | 2023-03-15 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Elizabeth Warren and Richard Blumenthal are calling on the SEC and DOJ to look into the collapse. "The nation's bank regulators cannot make the same mistake twice," they continued. Warren and Blumenthal wrote in their letter that "SVB officials showed a pattern of risky and questionable decision making" that may have contributed to the bank's collapse. They also noted the lack of stress tests that would have helped regulators determine whether the bank could respond to rising interest rates. But Warren has been persistent in her message, already introducing legislation alongside Rep. Katie Porter to roll back the 2018 changes.

☆ Joe Manchin says he looks at his 2018 vote on easing bank regulations 'differently now' after Silicon Valley Bank's collapse
▼ + stars: | 2023-03-14 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

In 2018, Sen. Joe Manchin was one of 13 Democrats to vote for easing some banking regulations. The rollback of those regulations meant that Silicon Valley Bank was subject to less scrutiny. That vote has come under renewed scrutiny after the abrupt shuttering of Silicon Valley Bank (SVB) and subsequent bailout of its depositors. Manchin did tell Raju that it was not a mistake to vote through that 2018 legislation, or at least it wasn't at the time. Other Democratic lawmakers who also voted for the 2018 legislation are similarly standing by their decisions.

☆ Elizabeth Warren and Katie Porter are taking the first step in repealing the Trump-era banking law they blamed for Silicon Valley Bank's collapse
▼ + stars: | 2023-03-14 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

NBC first reported on Tuesday that Sen. Warren and Rep. Porter are introducing a bill to repeal a 2018 banking law. Warren and other Democrats blamed the rollback for Silicon Valley Bank's collapse. Warren and Porter blamed the Trump-era rollbacks for SVB's abrupt shutdown on Friday, saying that if stricter regulations had been in place, the bank's collapse could have been prevented. Sen. Bernie Sanders also said on Monday that SVB's failure was a "direct result" of the 2018 legislation. "Americans deserve to know their money is safe when they deposit it in the bank," Porter said in a statement.

☆ Why Trump is being called out in the Silicon Valley Bank collapse
▼ + stars: | 2023-03-13 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Some Democrats have been blaming Trump-era regulations for Silicon Valley Bank's collapse. In 2018, Trump signed into law a bill that rolled back provisions in the Dodd-Frank Act and loosened oversight over banks. On Friday, regulators shut down Silicon Valley Bank following a tumultuous few days of failing to raise capital and a flood of customers withdrawing their funds from the bank. "Greg Becker, the chief executive of Silicon Valley Bank, was one of the ‌many high-powered executives who lobbied Congress to weaken the law," Massachusetts Sen. Elizabeth Warren wrote in a Monday opinion piece. Vermont Sen. Bernie Sanders said in a statement that the "failure of Silicon Valley Bank is a direct result of an absurd 2018 bank deregulation bill signed by Donald Trump that I strongly opposed."

☆ Wall Street — not taxpayers — will pay for the SVB and Signature deposit relief plans
▼ + stars: | 2023-03-13 | by ( Christina Wilkie | ) www.cnbc.com time to read: +3 min

WASHINGTON — Plans announced Sunday to fully reimburse deposits made in the collapsed Silicon Valley Bank and the shuttered Signature Bank will rely on Wall Street and large financial institutions — not taxpayers — to foot the bill, Treasury officials said. The DIF currently has over $100 billion in it, a sum the Treasury official said was "more than fully sufficient" to cover SVB and Signature depositors. To that end, federal officials strongly pushed back on the idea that the plans for SVB and Signature constituted a "bailout." Sen. Bernie Sanders, I-Vt., insisted that "If there is a bailout of Silicon Valley Bank, it must be 100 percent financed by Wall Street and large financial institutions." On Sunday afternoon, Treasury approved of plans that would unwind both SVB and Signature Bank, based in New York, "in a manner that fully protects all depositors."

☆ Senator Warren urges U.S. patent office to scrutinize Merck's Keytruda
▼ + stars: | 2023-02-23 | by ( Michael Erman | ) www.reuters.com time to read: +2 min

Senator Bernie Sanders, as well as Representatives Katie Porter and Pramila Jayapal also signed the letter. They expressed particular concern over Merck's efforts to patent a subcutaneous version of the currently infused drug, which Reuters reported on late last year. They wrote that Merck’s use of dozens of patents to fend off Keytruda competitors "appear(s) to be an example of the anti-competitive business practices ... that we have long beenconcerned about." Merck, which reported $20.9 billion in 2022 sales of Keytruda, has relied on the immunotherapy to fuel its growth. They urged Vidal to "give close scrutiny to any of Merck’s requests for new patents for Keytruda, and reject those that do not clearly meet the agency’s standards."

☆ Democratic Rep. Barbara Lee launches bid for California Senate seat held by retiring Sen. Dianne Feinstein, joining crowded primary
▼ + stars: | 2023-02-21 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

Rep. Barbara Lee, D-Calif., announced Tuesday she will join the competitive 2024 Democratic race for the Senate seat held by retiring Sen. Dianne Feinstein. "Californians deserve a strong, progressive leader who has delivered real change," Lee, 76, said in a social media post unveiling her long-rumored campaign for the coveted seat. Lee's announcement makes her the third major Democratic candidate in the running for the seat that the 89-year-old Feinstein has held since 1992. If elected in 2024, Lee would become the only Black woman serving in the U.S. Senate. "When my high school said cheerleaders couldn't be Black, I took them on," Lee said.

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