DIRS.INFO The most relevant business & tech news

☆ Senate Democrats laugh off Trump's endorsement of banning congressional stock trading. But there's still no consensus on passing their proposals in the lame duck session.
▼ + stars: | 2022-11-16 | by ( Warren Rojas | ) www.businessinsider.com time to read: +4 min

Senate Democrats have been wrestling with a proposed congressional stock trading ban. Donald Trump endorsed banning congressional stock trading in his 2024 campaign launch. He still felt qualified to weigh in on the unfinished legislative business Senate stock-ban point man Sen. Jeff Merkley of Oregon shelved until the lame duck in September. "I'm pleased to hear Trump supports a ban on congressional stock trading," Merkley wrote in an email. Stock trading ban advocate Sen. Elizabeth Warren of Massachusetts urged Democratic leaders to follow through on the most popular proposals before decamping for the holidays.

☆ The bulldog lawyer who helped recoup billions from MF Global's bankruptcy says investors burned by FTX may not be so lucky
▼ + stars: | 2022-11-16 | by ( Emmalyse Brownstein | Alex Morrell | ) www.businessinsider.com time to read: +6 min

The bulldog attorney and hedge fund manager says he sees similarities between MF Global and FTX, but also thinks it could be tougher for FTX customers to get their money back. Koutoulas' behind-the-napkin analysis is that FTX customers stand to recoup just 10 cents on the dollar in bankruptcy. But MF Global was also in a much stronger position financially when it filed for Chapter 11 bankruptcy on Halloween 2011. Of course, that does little to help FTX customers who were wiped out. "MF Global went bankrupt.

☆ Former FTX CEO Sam Bankman-Fried and allies lose influence in Washington as company collapses
▼ + stars: | 2022-11-14 | by ( Brian Schwartz | ) www.cnbc.com time to read: +6 min

Former FTX CEO Sam Bankman-Fried and his allies are losing advocates in Washington, as the company hits rock bottom. 2 Senate Democrat told CNBC on Monday that the contribution "will be donated to an appropriate charity." It was announced in February that FTX and FTX US were joining the group's board of directors. A spokesman for the crypto trade group told CNBC that "on Thursday, ADAM removed FTX.com and FTX.US from its membership." The lobbying group is led by the former Secretary of Homeland Security Tom Ridge.

“Senate Democrats have been committed to restoring balance to the federal judiciary with professionally and personally diverse judges,” Senate Majority Leader Chuck Schumer told NBC News on Saturday night. Senate Republican leaders told NBC News before the election that if they took the majority, they would use their power over the floor to compel Biden to send more centrist judges that GOP senators could support. He said Democrats keeping control means that if a Supreme Court vacancy were to open up, Biden’s nominee would be assured a vote. While the current 50-member Democratic caucus has been unified behind Biden’s judicial nominees, a 51st seat for the party could further embolden it. As a practical matter, that means Democrats currently need Republican sign-off to confirm judges in red states.

[1/2] The U.S. Supreme Court building is seen in Washington, U.S., June 26, 2022. The Senate has the authority to confirm a president's nominees to the federal judiciary including the Supreme Court. Biden's Republican predecessor Donald Trump put a major emphasis on getting judicial nominations confirmed as he worked to move the judiciary rightward. If Democrats retain control, Biden has a chance to match or surpass Trump's mark of having 234 judicial nominees confirmed over four years. Circuit courts are the regional federal appellate courts one step below the Supreme Court.

The surge in restrictive housing — informally known as solitary confinement — has perplexed BOP Director Colette Peters, who told NBC News that she "asked the same question when we saw the numbers come forward, so I'm curious as well." Colette Peters, director of the Federal Bureau of Prisons, testifies during a Senate Judiciary Committee hearing on Sept. 29. The federal government houses more than 142,000 inmates in its custody across the United States. It really is limiting the use of restrictive housing when absolutely necessary," Peters said. "We know so much more now from research around what solitary confinement can do to the hearts and minds of those there, and so this is something we need to take very seriously."

☆ Democratic Lawmakers Ask Justice Department to Publish Data on Corporate Crime
▼ + stars: | 2022-10-20 | by ( Dylan Tokar | ) www.wsj.com time to read: +2 min

A trio of Democratic lawmakers is asking the U.S. Justice Department to publicly disclose data related to its prosecution of corporate crime. ), comes after a top Justice Department official said data showed a decline in corporate criminal prosecutions. “We need to do more and move faster.”Sen. Durbin serves as chair of the Senate Judiciary Committee, which plays an oversight role over the Justice Department. The federal government hasn’t published a comprehensive report on corporate crime trends since 1979, the Democratic lawmakers said Thursday. A Justice Department report titled “Illegal Corporate Behavior” recommended that the agency start publicizing enforcement data through the Bureau of Justice Statistics.

☆ Jan. 6 committee shows video footage of congressional leaders pleading for help during attack
▼ + stars: | 2022-10-13 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Rebecca-Shabad-Circle-Byline-Template.Jpg | Rebecca Shabad | ) www.nbcnews.com time to read: +5 min

WASHINGTON — The House select committee investigating the Jan. 6 insurrection presented previously unseen video Thursday of congressional leaders pleading for help from governors, the acting secretary of defense and the acting attorney general as rioters attacked the Capitol. The video montage began with House Speaker Nancy Pelosi, D-Calif., walking through the Capitol flanked by security guards at 2:23 p.m. The video from Thursday's hearing shows Pelosi and other congressional leaders repeatedly asking for help from law enforcement. Sen. Dick Durbin of Illinois, the Democratic Senate whip, appeared in another clip with leaders. "What we are being told very directly is it’s going to take days for the Capitol to be OK again," Pelosi told Pence.

☆ Democratic senator seeks 'freeze' on U.S.-Saudi cooperation after OPEC cuts production
▼ + stars: | 2022-10-11 | by ( Zoë Richards | Zoë Richards Is The Evening Politics Reporter For Nbc News. | ) www.nbcnews.com time to read: +3 min

The top Democrat on the Senate Foreign Relations Committee is calling on the Biden administration to "immediately freeze" U.S. cooperation with Saudi Arabia after OPEC+ announced it would reduce daily oil production. The Kingdom of Saudi Arabia chose the latter in a terrible decision driven by economic self-interest," Menendez said. “The United States must immediately freeze all aspects of our cooperation with Saudi Arabia, including any arms sales and security cooperation beyond what is absolutely necessary to defend U.S. personnel and interests,” he added. The alliance said it would cut oil production by 2 million barrels a day, which is likely to increase gas prices. 2 Democrat in the Senate, accused Saudi Arabia of “conspiring with Vladimir Putin to punish the U.S. with higher oil prices” last week.

The Credit Card Competition Act of 2022 has been added to the National Defense Authorization Act (NDAA). This amendment, which would affect both Visa and Mastercard, will work to increase competition between credit card issuers. Currently, Visa and Mastercard account for nearly 83% of the credit card market, leading to a massive duopoly with little competition. While the Credit Card Competition Act of 2022 has the potential to force merchants to accept more credit cards, it may also backfire on those who collect credit card rewards. We'll see if — and when — the Credit Card Competition Act of 2022 is passed.

☆ Biden White House preparing to take executive action to protect DACA 'Dreamers'
▼ + stars: | 2022-09-29 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Josh-Lederman-Circle-Byline-Template.Jpg | Josh Lederman | ) www.nbcnews.com time to read: +6 min

The White House is preparing to take executive action to protect hundreds of thousands of immigrants known as “Dreamers,” people close to the White House told NBC News, as the Biden administration braces for a potential court defeat that could end the decade-old Deferred Action for Childhood Arrivals program. Circuit Court of Appeals, possibly within days. Although the Biden administration is likely to appeal the order, the Supreme Court has indicated it would agree with a 5th Circuit ruling that ends the Obama-era program. The order would direct Immigration and Customs Enforcement to deprioritize deporting DACA recipients and refrain from deporting them if they aren’t deemed threats to public safety or national security. And if something terrible comes out of the 5th Circuit, I think it could be an issue in November,” said Durbin, referring to the November midterm elections.

The Democratic-led Senate confirmed four new circuit court judges in the last two weeks, most recently U.S. District Judge Florence Pan to the powerful U.S. Court of Appeals for the D.C. By contrast, Trump had installed 69 judges at this point in his tenure. The most recent two-term presidents, Barack Obama and George W. Bush, each secured 325 Senate-confirmed judges for district courts, circuit courts and the Supreme Court over eight years. McConnell's allies say a GOP-run Senate would force Biden to pick judges who are acceptable to conservatives in order to get floor votes. Republicans ended the tradition for circuit judges in the Trump era and some liberals want to end it for district judges so that GOP senators in red states cannot block Biden’s nominees for vacancies.

☆ Josh Hawley introduces a bill to hold colleges accountable for surging student debt instead of 'teaching nonsense like men can get pregnant'
▼ + stars: | 2022-09-21 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Sen. Josh Hawley introduced a bill to hold colleges accountable for student debt borrowers take on. Hawley said the schools have gotten endowments while "teaching nonsense like men can get pregnant." "For decades, universities have amassed billion-dollar endowments while teaching nonsense like men can get pregnant. Instead, it's time to put universities on the hook and give students the information they need to make informed decisions." On the same day that Biden announced his relief, Hawley bashed the policy while once again expressing his concern that "wacky professors" are teaching that "men can get pregnant."

☆ Walmart and Target push to lower credit card fees
▼ + stars: | 2022-09-20 | by ( Nathaniel Meyersohn | Cnn Business | ) edition.cnn.com time to read: +3 min

A pair of bipartisan bills in Congress aim to lower the swipe fees, also known as interchange fees, that retailers pay every time a customer makes a purchase with their card. Visa V Mastercard MA anddominate more than 80% of the US credit card market. Proponents of these bills say they would generate more competition in the credit card network market and break Visa and Mastercard's hold over the industry. "Credit card swipe fees inflate the prices that consumers pay for groceries and gas," Durbin said in July. "Bringing real competition to credit card networks will help reduce swipe fees and hold down costs for Main Street merchants and their customers."

☆ Sen. Dick Durbin calls GOP governors 'pathetic' for making promises to migrant families to get them on buses
▼ + stars: | 2022-09-18 | by ( Katie Balevic | ) www.businessinsider.com time to read: +2 min

Sen. Dick Durbin called GOP governors "pathetic" for relocating migrants to different states. Governors DeSantis and Abbott have flown and bussed immigrants to northern states and Washington, DC. On Sunday, Durbin, the Democratic Whip, said the GOP governors are jeopardizing migrants' stay in the US by relocating them. We saw it with the forcible removal of children from their parents, some who've never been reunited with their families," Durbin said. "And now, once again, it's the kids and families that are put on these buses and transported for political purposes across the United States."

☆ Black women in the legal world celebrate Ketanji Brown Jackson's historic Supreme Court nomination as a 'victory' for all Americans
▼ + stars: | 2022-03-03 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +13 min

The two were enrolled in the same classes, both members of the Black Law Students Association, and lived in the same dormitory building. Black women in the legal world celebrated Jackson's Supreme Court nomination, a milestone that they said marks significant progress for their representation in the legal field, but also for the country as a whole. Installing judges of diverse backgrounds can better ensure the legal system is working equitably for all Americans, Black women in the legal field told Insider. "Now when I tell her, 'You could be a Supreme Court justice,' she can look at the Supreme Court and think, 'Yes, I could, there's someone there who looks like me.'" MoveOnORG activists call for the immediate confirmation of Judge Ketanji Brown Jackson for the Supreme Court on February 25.

Johnson & Johnson has said it would provide a fair amount of money to the subsidiary to pay claims. Johnson & Johnson, valued at more than $450 billion, had about $31 billion in cash and marketable securities on hand at the end of the third quarter, securities filings show. One would absorb all the talc liability; the other would carry on the business free from the threat of billion-dollar judgments. Levesque replied that the “technical aspect” of the subsidiary bankruptcy wasn’t likely to cause concern about J&J’s creditworthiness. Is that what you're saying?” asked Jeffrey Jonas, a Brown Rudnick lawyer representing a creditors committee comprising talc plaintiffs.

Organizations: & $, & &

So how are politicians spending election night in the time of coronavirus? Others will be drinking beer and flipping channels between old movies and election results. That announcement helped kickstart a 36-day saga that finally ended with Bush winning the presidential election. There, she's having an election night party that's being live-streamed. "It's the ultimate easy comfort food for an election night that will be filled with a lot of anxiety early on, and hopefully a lot of joy later on."

Search resuls for: "Dick Durbin"

18 mentions found