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☆ Congressional Democrats bash Ron DeSantis for alienating Florida job creator Disney World in service of a 'flailing presidential campaign'
▼ + stars: | 2023-04-18 | by ( Warren Rojas | Kimberly Leonard | ) www.businessinsider.com time to read: +7 min

Ron DeSantis's Tuesday swing through DC, calling it ill-timed, his political resume goofy, and his ongoing fight with Walt Disney World a devastating vanity project. Walt Disney World has roughly 80,000 employees in Florida and is the state's biggest tourist attraction. The Florida governor wasn't being offered much cover by Florida Republicans on Capitol Hill. When another reporter asked whether DeSantis had gone too far by threatening Disney with state prisoners for neighbors, Scott claimed ignorance. "Ron DeSantis is out campaigning outside of the state of Florida and picking fights with Mickey Mouse," Fried said.

☆ Peering Into Volcanoes at Tanzania’s Crater Highlands
▼ + stars: | 2023-04-17 | by ( Patrick Scott | Photographs | ) www.nytimes.com time to read: +2 min

Cloud shadows darkened sections of the leafless rim and the tan crater floor. A silvery green lake spread out on the left, and a patch of emerald woodlands near a stream stretched out on the right. In the rainy seasons, the expansive floor is lush and teeming with animals, including massive herds of migrating wildebeests. And because nearly all of the inhabitants are herbivores, we saw no chasing and fleeing. Instead, the wildebeests milled about or rested in acacia shade, and the zebras did a lot of standing around, motionless, like they were trying to remember something they’d just forgotten.

☆ Tim Scott is the most intriguing GOP presidential hopeful most Republicans haven't heard of
▼ + stars: | 2023-04-12 | by ( Brent D. Griffiths | Warren Rojas | ) www.businessinsider.com time to read: +8 min

South Carolina Sen. Tim Scott is far from well-known by Republican voters. But if he runs for president, Scott would be well positioned to break out if either Trump or DeSantis falter. "I hope he is considering jumping into the race," Iowa Sen. Joni Ernst recently told Insider while on her way back to her Senate office. But more than just his colleagues, Republican voters may also be just as effusive. It's difficult to find polling on Scott's national favorability, but a recent Monmouth University poll of self-identified Republican voters showed significant promise.

☆ DeSantis wants to eliminate in-state college tuition for undocumented students and beneficiaries of the Obama-era DACA program
▼ + stars: | 2023-04-10 | by ( Sarah Al-Arshani | ) www.businessinsider.com time to read: +3 min

Ron DeSantis wants to repeal their access to in-state tuition rates for undocumented students. At least 12,000 DACA recipients benefit from in-state tuition in Florida. Ron DeSantis's extensive immigration reform legislative package, undocumented students could lose access to in-state tuition rates. The legislation would repeal a 2014 law that gave undocumented students and beneficiaries of the Obama-era Deferred Action for Childhood Arrivals program, which protects those who came as children from deportation, access to in-state tuition rates. DeSantis' proposal has garnered pushback from business groups, who say the move is not only "unfair" but could hurt the workforce.

☆ Senior Republicans rally behind Trump after criminal indictment
▼ + stars: | 2023-03-30 | by ( Tim Reid | ) www.reuters.com time to read: +3 min

Kevin McCarthy, the Republican speaker of the House of Representatives, said the indictment "weaponized our sacred system of justice" against Trump. Elise Stefanik, another member of the Republican House leadership, called the indictment a "political witch hunt and a dark day for America". Trump called the indictment a "political persecution." Ted Lieu, a House Democrat, called the indictment a "horrible precedent" but necessary if Trump committed crimes. Jamaal Bowman, a fellow House Democrat, said: "It's time we ensure Trump is banned from running for any public office again."

☆ Elizabeth Warren and Josh Hawley just teamed up on a bill that would let the government 'clawback lavish pay and bonuses when executives explode their bank'
▼ + stars: | 2023-03-29 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Elizabeth Warren and Josh Hawley are teaming up to put the heat on executives of failed banks. Mike Braun and Catherine Cortez Masto, introduced a bill called "Failed Bank Executives Clawback Act," which would require that federal regulators "claw back" compensation of executives from the five-year period before their bank fails. "It's time for Congress to step up and strengthen the law so bank executives bear the cost of failure, not line their pockets and walk away scot-free." In the days and weeks following Silicon Valley Bank's collapse, lawmakers on both sides of the aisle — and President Joe Biden — have scrutinized the circumstances that led to the bank's failure. Warren has also pushed to roll back 2018 tweaks to the Dodd-Frank Act, which raised the threshold of holdings that require banks to have greater oversight.

☆ First came bank failures. Now comes the House hearing
▼ + stars: | 2023-03-26 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Federal regulators are being called to testify before the House Financial Services Committee on Tuesday about the collapse of Silicon Valley Bank and Signature Bank. What lawmakers are saying: Elected officials want a review of what happened at Silicon Valley Bank and Signature Bank earlier this month, as well as stricter regulations to prevent it from happening again. Regulators on March 12, just days after SVB collapsed, announced a guarantee of all deposits at the bank and Signature Bank. What to expect: It’s unclear what will come of the hearings on SVB and Signature Bank. Wednesday: The House Financial Services Committee’s hearing on the banking crisis continues for a second day.

☆ The rich keep getting richer and the poor keep getting poorer, says Rick Scott of the banking crisis
▼ + stars: | 2023-03-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe rich keep getting richer and the poor keep getting poorer, says Rick Scott of the banking crisisSen. Rick Scott (R-Fla.) joins 'Last Call' to discuss the current banking crisis and what can be done to deal with the problem.

Fed Chairman Jerome Powell sought to reassure investors about the soundness of the banking system, saying that the management of Silicon Valley Bank "failed badly," but that the bank's collapse did not indicate wider weaknesses in the banking system. "These are not weaknesses that are running broadly through the banking system," he said, adding that the takeover of Credit Suisse seemed to have been a positive outcome. The Federal Open Market Committee policy statement also said the U.S. banking system is "sound and resilient." The much-anticipated rate cut by the Fed, which had delivered eight previous rate hikes in the past year, sought to balance the risk of rampant inflation with the threat of instability in the banking system. The banking sector has been in turmoil after California regulators on March 10 closed Silicon Valley Bank in the largest U.S. bank failure since the 2008 financial crisis.

The latest move to restore calm to restive regional bank stocks came as Pacific Western Bank (PACW.O), one of the regional lenders caught up in the market volatility, said it had raised $1.4 billion from investment firm Atlas SP Partners. While that deal brought some respite to battered banking stocks, First Republic (FRC.N) remains firmly in the spotlight. For now, the rescue of Credit Suisse appears to have calmed the worst fears of systemic contagion, boosting shares of European banks (.SX7P) and U.S. lenders (.SPXBK). Reuters Graphics Reuters Graphics'HEAD IN SAND'The wipeout of Credit Suisse's Additional Tier-1 (AT1) bondholders has sent shockwaves through bank debt markets. Seeking to boost confidence among investors rattled by its $3 billion Credit Suisse rescue, UBS said on Wednesday it would buy back 2.75 billion euros ($2.96 billion) worth of debt it issued less than week ago.

☆ Exclusive: Republican U.S. Senator Rick Scott, Democrat Warren unveil Fed oversight bill
▼ + stars: | 2023-03-22 | by ( David Morgan | ) www.reuters.com time to read: +4 min

Republican Rick Scott and Democrat Elizabeth Warren blamed the collapse of the two banks on regulatory failures at the U.S. central bank, which has operated up to now with an internal inspector general who reports to the Fed board. "Our legislation fixes that by establishing a presidentially-appointed, Senate-confirmed inspector general at the Fed, like every other major government agency," Scott said in a joint release with Warren. Warren said this month's banking upheavals "have underscored the urgent need for a truly independent inspector general to hold Fed officials accountable for any lapses or wrongdoing." She sits on both the Senate Banking Committee and the Senate Finance Committee, and chairs subcommittees of both panels. Reporting by David Morgan and Heather Timmons; Editing by Scott Malone and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Two of the Fed's 12 regional bank presidents resigned as a result of that scandal and Powell launched a fast overhaul of the central bank's ethics rules as criticism mounted. Senator Elizabeth Warren, a longtime Powell opponent, saying she had lost confidence as well in San Francisco Fed President Mary Daly, whose bank was responsible for supervising SVB. Still, turbulence in financial markets and the banking system is likely to feature prominently in Powell's post-meeting news conference, which is scheduled to begin at 2:30 p.m. EDT (1830 GMT). The U.S. central bank will release its policy statement and new economic projections from Fed officials at 2 p.m. EDT. Market expectations are tilted heavily towards the Fed approving another quarter-of-a-percentage-point rate increase, which would lift its benchmark overnight interest rate - the federal funds rate - to the 4.75%-5.00% range.

☆ Republican US senator doubles down on call for tighter Fed scrutiny
▼ + stars: | 2023-03-21 | by ( David Morgan | ) www.reuters.com time to read: +3 min

"The Federal Reserve, the world's largest and most powerful central bank, does not have a truly independent IG to investigate it. I'm fighting to fix that and will be introducing a bill soon - that I believe will have bipartisan support," Scott wrote. The online column marked the second time in two days that Scott has vowed to push for an independent Fed IG. He also informed Federal Reserve Chairman Jerome Powell of his plans in a letter on Monday. Republicans and Democrats in Congress have pledged tighter oversight of banking regulators following the collapse of Silicon Valley Bank and Signature Bank, which has been followed by billions of dollars in losses for financial stocks.

☆ US Sen. Scott pushes for new Fed inspector general, slams Fed over bank regulation,
▼ + stars: | 2023-03-21 | by ( David Morgan | ) www.reuters.com time to read: +3 min

Senator Rick Scott said on Monday he will introduce legislation to create an independent inspector general to oversee the Federal Reserve, as he called the U.S. central bank "unable or unwilling to properly regulate" banks in a letter to Fed Chair Jerome Powell. "I am proposing legislation to establish a presidentially-appointed and Senate-confirmed inspector general for the Federal Reserve," Scott told Powell in the letter. The Federal Reserve is responsible for supervising - monitoring, inspecting and examining - certain financial institutions to ensure that they comply with rules and regulations, and that they operate in a safe and sound manner. Scott's legislation stems from concern in Congress that the Federal Reserve's current inspector general is not independent enough to serve as a check on the central bank. Scott also urged the Fed chief to use the central bank's policy meeting this week to examine the bank failures and identify accountable Fed personnel.

But unspent COVID aid is a small target, with less than $80 billion unspent as of January, White House budget figures show. CARPENTERS, VETERANS AND MEDICAL RESEARCHReclaiming unspent COVID funds would have real-world repercussions. A clawback could also affect veterans' healthcare, as the Department of Veterans Affairs has yet to spend $4.6 billion of the money it received for COVID-19 related care. Republican governors of Nebraska and Arkansas last year rejected a second round of aid for people behind on their rent. Republican Senator Rick Scott in January urged governors and mayors to voluntarily return that money to help pay down federal debt.

☆ Dozens of Senate Republicans oppose overturning the law that made the disastrous 2003 Iraq invasion possible
▼ + stars: | 2023-03-16 | by ( Bryan Metzger | John Haltiwanger | ) www.businessinsider.com time to read: +7 min

The Senate began the process on Thursday to repeal the 1991 and 2002 Iraq War AUMFs. "It should be easy to remove," quipped Republican Sen. Rand Paul of Kentucky, a supporter of repeal. "I don't want to do anything that reduces the President's ability to kill somebody like Soleimani," said Republican Sen. Rick Scott of Florida. For Sen. Paul, repealing the Iraq War AUMFs — which he called "symbolic" — isn't going far enough. The 2001 AUMF opened the door for the invasion of Afghanistan, launching the longest war in US history.

☆ U.S. Senate Democrats, Republicans to battle over spending amid bank collapse
▼ + stars: | 2023-03-15 | by ( David Morgan | ) www.reuters.com time to read: +3 min

Biden's proposal is an early step in a negotiation over fiscal 2024 spending with Republicans who control the U.S. House of Representatives, who say they will refuse to raise the nation's $31.4 trillion debt ceiling unless Democrats agree to sharp spending cuts. "Republicans have pledged to use draconian cuts to pro-growth investments for everyday Americans," Whitehouse said in a statement on Tuesday. Leaders of both parties say they will not cut Social Security and Medicare which currently account for about one- third of the federal budget. Not touching those, or failing to cut defense spending, leaves little chance of addressing the government's budget deficit. Republicans are determined to avoid tax hikes and to preserve tax cuts for the wealthy implemented under former President Donald Trump.

☆ Biden's funding wish list quickly runs into headwinds as Republicans slam it as 'completely unserious' and 'a roadmap to fiscal ruin'
▼ + stars: | 2023-03-09 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

President Joe Biden released his budget proposal for fiscal year 2024 on Thursday. The budget, which amounts to more of a wish list of priorities than viable policy, has already sparked pushback. "President Biden just delivered his budget to Congress, and it is completely unserious," he wrote on Twitter. "Let's be clear – the budget put forward by President Biden today will not be enacted," Capito said. "I want to make it clear, I'm willing to meet with the Speaker anytime, tomorrow if he has his budget," Biden said.

☆ Florida's DeSantis urges Biden to let unvaccinated Djokovic enter US for Miami Open
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

March 8 (Reuters) - Florida Governor Ron DeSantis has called on U.S. President Joe Biden to allow Novak Djokovic to compete at this month's Miami Open despite the world number one being unvaccinated for COVID-19. The Serbian, 35, formally withdrew from Indian Wells on Sunday. He has not played at Indian Wells or the Miami Open - which together comprise the "Sunshine Double" - since 2019. Indian Wells tournament director Tommy Haas, the United States Tennis Association and the U.S. Open were among those also hoping Djokovic would be allowed to enter. "The only thing keeping Mr Djokovic from participating in this tournament is your administration's continued enforcement of a misguided, unscientific, and out-of-date COVID-19 vaccination requirement for foreign guests," DeSantis said.

LOS ANGELES, March 5 (Reuters) - Novak Djokovic has formally withdrawn from the draw for the Indian Wells tournament, organisers said on Sunday in an indication that the world number one's application for a COVID-19 vaccine waiver to enter the U.S. might have failed. The Serbian, who is one of the most high-profile athletes unvaccinated against the virus, applied to the U.S. government last month for special permission to play at ATP Masters events at Indian Wells and Miami. Djokovic has not competed at the back-to-back ATP Masters events in Indian Wells and Miami, two of the biggest tournaments on the ATP calendar and known as the "Sunshine Double", since 2019. Indian Wells tournament director Tommy Haas, the United States Tennis Association and the U.S. Open were among those also hoping the 22-time Grand Slam champion would be allowed to enter. He would have been a heavy favorite to win his sixth Indian Wells title when the tournament kicks off in the Southern California desert on Wednesday.

☆ Paul Ryan Says Even MAGA Diehards Believe Trump Can’t Win in 2024
▼ + stars: | 2023-03-06 | by ( David Marchese | ) www.nytimes.com time to read: +23 min

Photo illustration by Bráulio Amado Talk Paul Ryan Says Even MAGA Diehards Believe Trump Can’t Win in 2024For a good long time during the George W. Bush and Obama presidencies, Paul Ryan was considered one of the intellectual leaders and shining stars of the Republican Party. Get out of this race.” But I don’t think Trump is going to get the nomination. I don’t think we want the lack of liberty that comes with government-made equality. Where I part company with the left is I don’t believe in socialism. I don’t believe in equality of outcomes.

☆ US senators reintroduce bill to make daylight saving time permanent
▼ + stars: | 2023-03-02 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, March 2 (Reuters) - A bipartisan group of 12 U.S. senators on Thursday reintroduced legislation that would make daylight saving time permanent, nearly a year after the Senate voted unanimously to end clock switching. But the bill failed to get a vote last year in the U.S. House of Representatives because lawmakers could not agree on whether to keep standard time or permanent daylight saving time, said Representative Frank Pallone. Some sleep experts say daylight savings time makes it harder to be alert in the morning. Daylight saving time has been in place in nearly all of the United States since the 1960s after being first tried in 1918. The bill would allow Arizona and Hawaii, which do not observe daylight saving time, to remain on standard time.

☆ Sonia Sotomayor pushes back on conservative SCOTUS justices who questioned the fairness of Biden's student-loan forgiveness plan, saying the US is 'not a society of unlimited resources'
▼ + stars: | 2023-03-01 | by ( Azmi Haroun | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

SCOTUS Justice Sonia Sotomayor questioned efforts to gut the Biden student-loan forgiveness plan Tuesday. Sotomayor was among a few justices pushing back on common GOP arguments on the "fairness" of the program. Sotomayor was joined by justices Ketanji Brown Jackson, Elena Kagan, and Amy Coney Barrett in scrutinizing the cases' standing to sue. Every law has people who encompass it or people outside it," Sotomayor said, adding that "that's not an issue of fairness. Conservative Justice Amy Coney Barrett joined the liberal justices in challenging the standing of both of the cases, but it would require the vote of an additional conservative justice to uphold Biden's debt relief plan.

☆ Several big-name GOP lawmakers won't go to CPAC this year amid chairman Matt Schlapp's sexual assault scandal
▼ + stars: | 2023-03-01 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

CPAC is typically a major opportunity for GOP politicians to boost their profile and give red-meat speeches. But many aren't going this year as chairman Matt Schlapp faces a $9.4 million sexual assault lawsuit. Nikki Haley, Sen. Ted Cruz of Texas, and Sen. Rick Scott of Florida — are still scheduled to speak later this week. Republican Sen. Steve Daines of Montana, the chairman of the National Republican Senatorial Committee. Republican Sen. Joni Ernst of Iowa, also not attending, visibly cringed when asked about CPAC.

☆ ‘Prime’ by Christian McBride’s New Jawn and ‘Corridors’ by Jazz Master Kendrick Scott Reviews: No Piano, No Problem
▼ + stars: | 2023-02-27 | by ( Larry Blumenfeld | ) www.wsj.com time to read: 1 min

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