Journalist @baltimoresun writer artist runner #amwriting Chaplain PIO #partylikeajournalist

Journalist @baltimoresun writer artist runner #amwriting Chaplain PIO #partylikeajournalist
Journalist @baltimoresun writer artist runner #amwriting Md Troopers Assoc #20 & Westminster Md Fire Dept Chaplain PIO #partylikeajournalist
Showing posts with label US budget spending. Show all posts
Showing posts with label US budget spending. Show all posts

Sunday, September 15, 2013

News from The Hill: Angry House Republicans demand better communication By Molly K. Hooper

News from The Hill:

Angry House Republicans demand better communication 


By Molly K. Hooper

Republican lawmakers are growing increasingly frustrated with what they say is a lack of communication from their leaders.

Both centrist and conservative members in the House believe that Speaker John Boehner (R-Ohio) and his lieutenants could have done more earlier this year to counter the Tea Party's effort to defund ObamaCare. 

Some Republicans on Capitol Hill say such an effort is politically impossible with a Democratic-controlled Senate and a Democrat in the White House. Regardless, the rift on what to do on ObamaCare has opened up a civil war within the GOP.

That deep division is flaring at a time when fiscal showdowns are front and center following the August recess.


 Read the story here.

http://thehill.com/homenews/house/322305-angry-house-republicans-say-gop-leaders-need-to-communicate-better
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Thursday, April 11, 2013

FOXBusiness Obama Unveils 2014 Budget Proposal - By Kathryn Buschman Vasel


Obama Unveils 2014 Budget Proposal

By Kathryn Buschman Vasel

Published April 10, 2013

FOXBusiness Read more: http://www.foxbusiness.com/personal-finance/2013/04/10/obama-budget-targets-millionaires-replaces-sequester-cuts/

The budget battle on Capitol Hill heated up Wednesday as President Barack Obama released his budget for fiscal 2014 that aims to find middle ground to progress long-stalled budget negations.

The president's budget includes 215 proposals to cut spending, will raise $680 billion in new tax revenues and reduce future deficits by $600 billion over 10 years. The White House says the president's plan includes $1.8 trillion in deficit reduction, replacing the $1.2 trillion in automatic spending cuts poised to take effect over the next 10 years.

The budget aims to find middle ground between the dueling parties by including reductions to popular entitlements, which doesn’t sit well with Democrats, as well as Republican-loathed tax increases.

"My budget will reduce our deficits by nearly another 2-trillion dollars so that, all told, we will have surpassed the goal of 4-trillion dollars in deficit reduction that independent economists believe we need to stabilize our finances," the president said in the Rose Garden on Wednesday.

Read the president's budget here

Medicare and Social Security face cuts under the president’s budget, which has drawn criticism from members of his own party…

Read more here: http://www.foxbusiness.com/personal-finance/2013/04/10/obama-budget-targets-millionaires-replaces-sequester-cuts/
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Wednesday, March 13, 2013

President Obama: The sky is falling March 13, 2013 by Kevin E. Dayhoff


President Obama: The sky is falling March 13, 2013 by Kevin E. Dayhoff

http://www.thetentacle.com/ShowArticle.cfm?mydocid=5670

Almost two weeks have gone by since the so-called “sequester” of the federal budget went into effect and all indications lead us to believe that the Zombie Apocalypse has not happened. Nor has it otherwise resulted in the end of the world as we know it.

Remember the sequester? It was the key and critical provision of the Budget Control Act of 2011, which took effect on March 1.

According to Dylan Matthews on March 1, 2013, in The Washington Post:

“The 2013 sequester includes: $42.7 billion in defense cuts (a 7.9 percent cut); $28.7 billion in domestic discretionary cuts (a 5.3 percent cut); $9.9 billion in Medicare cuts (a 2 percent cut); $4 billion in other mandatory cuts (a 5.8 percent cut to nondefense programs, and a 7.8 percent cut to mandatory defense programs).”

According to a number of astute political observers, including Chris Cillizza, also of The Washington Post, the sequester may very well have been over-hyped by a president who is not used to media scrutiny.

Mr. Cillizza wrote in “Did President Obama cry wolf on the sequester,” “In the days leading up to the March 1 sequester deadline, dire warnings about its impact were being issued daily from President Obama. Lines at airports would be interminable. First responders would be compromised. Things would be, in a word, bad.”

At my advanced age, I can easily recognize political silliness when I see it.

According to Media Research Center’s Brent Baker, who wrote in an article titled, “Krauthammer: Obama on Charm Offensive Because ‘Media Could No Longer Cover for Him,’” “Charles Krauthammer credited President Obama’s charm offensive toward Republicans to his losing the news media which couldn’t any longer abide his ridiculous sequester ‘cut’ exaggerations.

Mr. Baker is the vice president for Research and Publications at the Media Research Center, a conservative media watchdog organization and think tank.

President Obama’s strongest constituency, which, according to Dr., Krauthammer, “is not the left, it’s the mainstream media, could no longer cover for him without being entirely embarrassed,” Krauthammer observed last Friday night on the Fox News Channel, “It had to expose the one exaggeration after another on the sequester.”

Dr. Krauthammer went on to observe that … http://www.thetentacle.com/ShowArticle.cfm?mydocid=5670
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Wednesday, March 06, 2013

The Tentacle: How I learned to love the sequester by Kevin E. Dayhoff Mar 6, 2013 http://tinyurl.com/a4s5zu8


The Tentacle: How I learned to love the sequester by Kevin E. Dayhoff Mar 6, 2013 

http://www.thetentacle.com/ShowArticle.cfm?mydocid=5658

Last Friday, March 1, the much ballyhooed and overhyped “sequester” of the federal budget began. A key and critical provision of the Budget Control Act of 2011, sequestration was signed into law on August 2, 2011 by President Barack Obama.

In August 2011 “bipartisan majorities in both the House of Representatives and Senate voted for sequestration as a mechanism to compel the Congress to act on deficit reduction,” according to a March 1, 2013 Office of Management and Budget memo to Speaker of the House, John A. Boehner (R., OH).

The letter further detailed that “As a result of the Congress's failure to act, the law requires the President to issue a sequestration order today canceling $85 billion in budgetary resources across the Federal Government for FY 2013…”

This latest artificial governance-by-crisis has been unfolding for a number of weeks – err, months… http://www.thetentacle.com/ShowArticle.cfm?mydocid=5658

Labels: Pres 2009 44 Obama admin,US budget sequester - sequestration, US budget spending, US Congress, US Congress fiscal discipline,
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Tuesday, March 05, 2013

The Farm Credit Council “The Insider”: USDA Faces 5% Cut Due to Sequester; FCA Exempt

The Farm Credit Council “The Insider”: USDA Faces 5% Cut Due to Sequester; FCA Exempt

An article in The Farm Credit Council “The Insider, reports:

http://kevindayhoff.blogspot.com/2013/03/the-farm-credit-council-insider-usda.html 

Labels: Ag Farm Credit Council, Ag Farm Credit Council The Insider, Pres 2009 44 Obama admin,US budget sequester - sequestration, US budget spending, US Congress, US Congress fiscal discipline, US Dept of Ag

The White House late last week issued its orders for the sequester cuts, which includes a reduction of approximately 5% for USDA for the remainder of fiscal 2013. The cuts are to take place over seven months and amount to about 13% from defense spending and 9% from non-defense programs.

The plan calls for furloughs of meat inspectors for the Federal Safety and Inspection Service. FSIS is expected to reduce its spending by about $53 million out of a $1.05 billion budget. Commodity programs are to be cut by $329 million and disaster spending is to be reduced by about $70 million.

USDA Secretary Vilsack said the budget cuts could disrupt the agricultural economy by as much as $8 billion, affecting as many as 60,000 jobs, and could prevent as much as $35 million in USDA loans being made to as many as 1,500 farmers.

Vilsack added that USDA is prepared to continue distributing direct payments and is committed to giving farmers in the Average Crop Revenue Election program options to stay in or withdraw from ACRE.

“Sequester may impact the amount of payments, but I don't think it will affect whether people get payments,” Vilsack said. He added that he believes it would be difficult for Congress to reduce or modify direct payments this year, either in response to the sequester or as part of a new farm bill.

The Senate last week failed to pass either of two competing bills to address the sequester. The plan favored by Senate Democrats, urged by Senate Majority Leader Harry Reid (D-NV) and Agriculture Committee Chairwoman Debbie Stabenow (D-MI) would have included a number of cuts to agriculture spending, including elimination of direct payments. Chairwoman Stabenow said this would spare agriculture from a new round of sequestration cuts in the future.

House Agriculture Committee Chairman Frank Lucas (R-OK) said it was disappointing that the Senate failed to pass a replacement, but that he was pleased that the Reid-Stabenow plan was rejected because it would have unfairly targeted agriculture.

“The agriculture portion of their proposal called for a 50 percent cut to a single title in the farm bill that accounts for six percent of overall agriculture spending and less than one percent of overall federal spending,” Chairman Lucas said.

Complicating the picture for a new farm bill is the fact that the current continuing resolution funding government operations is set to expire March 27. Without an extension or a replacement, the federal government will be unable to spend money to keep certain operations running. House Republicans are expected to introduce their plan this week for extending routine government spending through September, the end of the current fiscal year.

In addition, the Congressional Budget Office last week released new estimates substantially downgrading the promised savings from the House and Senate farm bills.

The report says the Senate-passed farm bill would save only $13.1 billion over 10 years, compared with a promised $23.1 billion last July. The House Agriculture Committee plan would save $26.6 billion compared with $35.1 billion estimated last year.

The Farm Credit Administration is exempt from the cuts required by the sequester. Because FCA’s funding comes from assessments paid by Farm Credit System institutions and not from appropriated funds, FCA’s budget will not be reduced.
+++++++++++

Headlines:

USDA Faces 5% Cut Due to Sequester; FCA Exempt

Farm Credit Leaders Conduct Capitol Hill Visits

Farm Credit's Founding Tied to Wilson's Vision, Berg Tells Council Annual Meeting

Council, Ag Groups Form 'Agriculture Workforce Coalition' on Immigration Reform

USDA to Set Maximum Rates on FSA Guaranteed Loans

FCA Names Paulsen Deputy Director of Office of Examination

Latest News from The Farm Credit Council's Legislative Action Center

Farmers, Others Worried About Crop Insurance Status

Farm bill would save less than previously thought

Local food movement growing ranks of younger farmers

Visit the Legislative Action Center for the latest daily news on key issues affecting the Farm Credit System

[20130304 sdosm The FCC Insider USDA faces 5 percent cut]
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Tuesday, January 29, 2013

Republican Study Committee Update: No Budget, No Pay

January 29, 2013
Tuesday, January 29, 2013 | View Online
RSC Update: No Budget, No Pay
From the Chairman
     American families and businesses put together a budget each and every year, but for the last four years the Senate has refused to live by those same standards.  It’s not only irresponsible - it’s also illegal. Yet the Senate has simply ignored the law for the last four years.  In order to preserve the American Dream for future generations, Washington must stop the budget gimmicks and rein in the out of control spending that is killing American jobs and placing an unbearable mountain of debt on the backs of our children and grandchildren.  It is long-past time that the Senate pass a budget as required by law.  It is time to put American families first by moving the federal government towards a budget that balances within the next ten years. 
     Last week, the House, with the collaboration of the RSC, took the first step in halting Washington’s spending addiction by voting for H.R. 325 (“No Budget, No Pay”), which places Members’ salaries in escrow after April 15th until they pass a budget.  “No Budget, No Pay,” will force the Senate to do its job and craft a budget for the first time in four years.  Since regaining control of the House of Representatives two years ago, House Republicans have passed a budget each year, but because of the Senate’s lack of action, American families have suffered. 
     “No Budget, No Pay,” was the first of many steps to put us on a path to a balanced federal budget within 10 years, but it is certainly not our last step.  We must do more.  Entitlement spending is out of control, accounting for about 60% of federal outlays, and we will never get our debt crisis under control until we tackle serious entitlement reform. To add insult to injury, the liberals’ tax, spend and regulate approach is killing our small businesses and American jobs, further jeopardizing our ability to create economic growth for our country. Washington’s old way of operating by spending now and sending the bill to our kids is over, and I am proud of the work we just started to make Washington tighten its belt so we can get our economy back on track and preserve the American Dream for the next generation. 

God Bless,

Congressman Steve Scalise
Chairman, Republican Study Committee

RSC Media Activity– RSC members work hard to ensure that the conservative viewpoint is well-represented in all corners of the media. Visit our Media Centerfor more.
RSC Member Activity–RSC members make it a priority to introduce productive, conservative solutions for America’s future.
  • Rep. Diane Black (TN-06) introduced H.R. 217“Title X Abortion Provider Prohibition Act,” which Amends thePublic Health Service Act to prohibit the Secretary of Health and Human Service (HHS) from providing any federal family planning assistance to an entity unless the entity certifies that, during the period of such assistance, the entity will not perform, and will not provide any funds to any other entity that performs, an abortion.
     
  • Rep. Marsha Blackburn (TN-07) introduced H.R. 61“Title X Abortion Provider Prohibition Act,” which Amends the Public Health Service Act to prohibit the Secretary of Health and Human Service (HHS) from providing any federal family planning assistance to an entity unless the entity certifies that, during the period of such assistance, the entity will not perform, and will not provide any funds to any other entity that performs, an abortion.
     
  • Rep. Jason Chaffetz (UT-03) introduced H.R. 249“Federal Employees Tax Accountability,” whichwould not only terminate the employment of current tax delinquent federal employees, but would also prohibit the hiring of future federal employees who already have a seriously delinquent tax debt.
     
  • Rep. Jason Chaffetz (UT-03) introduced H.R. 252“Jerusalem Embassy Relocation Act,” which would recognize Jerusalem as Israel's capital and require the relocation of the US embassy from Tel Aviv to Jerusalem by January 1, 2015.
     
  • Rep. Scott Garrett (NJ-05) introduced H.R. 104“Jerusalem Embassy Relocation Act,” which would recognize Jerusalem as Israel's capital and require the relocation of the US embassy from Tel Aviv to Jerusalem.
     
  • Rep. David McKinley (WV-01) is building support for a Letter to SASC on Hagel Nomination.
     
  • Rep. Alan Nunnelee (MS-01) is building support for H.R. 346“To amend title I of the Patient Protection and Affordable Care Act to ensure that the coverage offered under multi-State qualified health plans offered in Exchanges is consistent with the Federal abortion funding ban.”
     
  • Rep. Mike Pompeo (KS-04) is building support for EDA Elimination Act.
     
  • Rep. Phil Roe (TN-01) introduced H.R. 351 “To repeal the provisions of the Patient Protection and Affordable Care Act providing for the Independent Payment Advisory Board,” which repeals the Independent Payment Advisory Board.
     
  • Rep. Todd Rokita (IN-04) is building support for State Health Flexibility Act to Block Grant Medicaid.
     
  • Rep. Austin Scott (GA-08) is building support to Protect Small Business Owners from Being Sued With Their Own Tax Dollars.
RSC Reports
  • RSC Updates are now online! Looking for one of our recently released charts and graphs? Click here.
     
  • Stay up to date on budget and spending news with reportsfrom the RSC Budget and Spending Task Force.
     
  • Keep up with national security by reading the National Security Working Group’s newest report.
     
  • Check out the Repeal Task Force’swork to eliminate bad laws and regulations.
OFFICE LOCATIONS:
House Republican Study Committee
2338 Rayburn House Office Bldg
Washington, DC 20515
Phone: (202) 226-9717
Fax: (202) 226-1633
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Monday, April 09, 2012

United States Budget Lessons


United States Budget Lessons

Lesson # 1:

* U.S. Tax revenue: $2,170,000,000,000
* Federal budget: $3,820,000,000,000
* New debt: $1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $38,500,000,000
Let's now remove 8 zeros and pretend it's a household budget:
* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts: $385

Got it?

OK, Lesson # 2 (The Debt Ceiling):

Let's say, You come home from work and find there has been a sewer backup in your neighborhood....and your home has sewage all the way up to your ceilings.

What do you think you should do......?

Raise the ceilings, or pump out all the crap?

Your choice is coming November 6, 2012.

[20120408 sdosm Budget Lessons]
*****
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Saturday, December 17, 2011

News from The Hill: House GOP members voice extreme opposition to Senate payroll tax plan By Russell Berman



News from The Hill:

House GOP members voice extreme opposition to Senate payroll tax plan 
By Russell Berman The two-month payroll tax cut extension that passed the Senate on Saturday may not be a done deal.
Rank-and-file House Republicans voiced extreme opposition to the package during a conference call Saturday afternoon in which Speaker John Boehner (R-Ohio) briefed them on the legislation and their options to respond, according to two sources with knowledge of the call.


One source said Boehner spoke approvingly of the deal as a win for the GOP but that three other members of the leadership team - Majority Leader Eric Cantor (Va.), Whip Kevin McCarthy (Calif.) and Conference Chairman Jeb Hensarling (Tex.) - all criticized it.


The source said that with the exception of Reps. Tom Cole (Okla.) and Walter Jones (N.C.), Boehner was the only person on the call to praise the deal.


Read the story here.

For all the latest news:
Visit TheHill.com 
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*****
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Monday, October 17, 2011

Speaker Boehner’s Press Office - Speaker Alert: 900 Days & Still No Budget from Senate Democrats

Speaker of the House John Boehner

900 Days & Still No Budget from Senate Democrats

October 16, 2011 | Posted by Speaker Boehner's Press Office | Permalink
Stopping Washington from spending money it doesn't have is a key part of the Republican jobs plan.The Democratic-led Senate, on the other hand, has now gone 900 days without passing a budget and is delaying action on more than a dozen House-passed jobs bills. In the Weekly Republican Address, Majority Whip Kevin McCarthy (R-CA) - a former small business owner - urged "the president to call on leaders in his party to follow the House, listen to the American people, stop pushing ideas we know won’t work, and pass these jobs bills." McCarthy also highlights potential areas where both parties can work together to remove barriers to job growth. Watch the address here and read more below:

Republicans Working to Find Common Ground On Removing Government Barriers to Job Growth
  • On Fox News, Speaker Boehner said the American people expect both parties in Washington to work together and: "Stop the regulatory onslaught coming out of Washington. Fix this tax code so that American companies can be more competitive in a worldwide economy. And then thirdly, stop the overspending that’s serving as a wet blanket over our economy."
  • Whip McCarthy outlines several potential areas of common ground in the weekly address, including repealing the IRS three percent withholding tax (an item in the president's plan).
Eliminating Excessive Government Regulations & Stopping Washington from Spending Money It Doesn't Have
  • In the weekly address, Whip McCarthy said, "We agree with the American people: No more budget tricks, no more accounting gimmicks, no more broken promises... that’s why we support a Balanced Budget Amendment to the Constitution."
Democrats' "Stimulus" Spending, Threat of Tax Hikes, & Excessive Regulations Are Creating a Worse Environment for Job Growth
  • Witnesses told the Natural Resources Committee that the Obama Administration's de facto energy moratorium is driving down energy production and sending American jobs overseas.
  • Roughly one-third of small businesses cite uncertainty regarding ObamaCare as one of the top reasons they're not hiring, according to an Education & the Workforce Committee hearing.
  • The House held another hearing this week on legislation preventing the National Labor Relations Board (NLRB) from imposing drastic new rules to significantly limit the rights of workers and employers, and place added burdens on American job creators. Learn about it here.
  • President Obama asked, "Does anybody really think that" rolling back excessive government regulations “is going to create jobs…?” Small business owners across the country have answered the president's question with a resounding "yes." See here.
Keeping the Pledge to Make Congress More Open & Accessible
  • You can now watch the debate and votes on the House floor live online from any desktop or mobile device with video capabilities via HouseLive.gov. Check it out now.
  • Click here to find new ways to connect online with lawmakers, committees, and staff in the House of Representatives.
Don’t forget to watch the weekly Republican address by Rep. McCarthy, and be sure to stay connected with the Office of the Speaker on Facebook, Twitter, Flickr, YouTube, and Speaker.gov. Thank you!
- Speaker Boehner’s Press Office
SPEAKER PRESS OFFICE
REP. JOHN BOEHNER (R-OH)
H-232, THE CAPITOL
(202) 225-0600 | SPEAKER.GOV
    

Speaker Boehner’s Press Office - Speaker Alert: 900 Days & Still No Budget from Senate Democrats
*****
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Wednesday, September 14, 2011

Nakamura - WaPo: Obama proposes raising taxes on the wealthy to pay for $447 billion jobs bill

44
Post Politics |  On Twitter Twitter: Post Politics |  On Facebook Facebook: Post Politics |   RSS

Obama proposes raising taxes on the wealthy to pay for $447 billion jobs bill

By David Nakamura 09/12/2011

http://www.washingtonpost.com/blogs/44/post/obama-calls-on-congress-to-pass-jobs-bill-no-politics-no-delays/2011/09/12/gIQA8uk3MK_blog.html?wpisrc=nl_pmpolitics

President Obama would fund his $447 billion plan to create jobs largely by raising taxes on wealthier families, White House aides said Monday after the president again called on Congress to support the package.

During a Rose Garden appearance, Obama pledged to send Congress the American Jobs Act on Monday evening when the legislative body resumes its session. Aides revealed for the first time that the plan will include limits on itemized deductions for individuals who earn more than $200,000 a year and families that earn more than $250,000.

[…]

Obama has proposed similar tax hikes on the wealthy in the past, but they were rejected by Congress.

[…]

The cost of the jobs plan would be in addition to the $1.5 trillion that a bipartisan congressional “supercommittee” is tasked with finding to reduce the country’s spiraling deficit. However, the administration said that it is open to other ways to pay for its proposal. If the committee settles on a plan to reduce the deficit by the $1.5 trillion and also the amount of Obama’s jobs package, the tax hikes will not longer take effect, White House officials said.

[…]

http://www.washingtonpost.com/blogs/44/post/obama-calls-on-congress-to-pass-jobs-bill-no-politics-no-delays/2011/09/12/gIQA8uk3MK_blog.html?wpisrc=nl_pmpolitics

[20110912 WaPo Nakamura Obama proposes raising taxes] [20110908 Obama speech 447B USD Jobs plan]

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Nakamura - WaPo: Obama proposes raising taxes on the wealthy to pay for $447 billion jobs bill

+++++++++


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Wednesday, February 03, 2010

DealBook: Dodd Calls Obama Plan Too Ambitious

DealBook: Edited by Andrew Ross Sorkin
The New York Times
Wednesday, February 3, 2010
------------------------------
------------------------------
For updates throughout the day, visit:
http://dealbook.blogs.nytimes.com/
----------------------------------------
To view the latest DealBook headlines on
your mobile device, go to:
http://mobile.nytimes.com/blogs/dealbook
----------------------------------------
For tips, feedback: e-mail dealbook@nytimes.com;


1. Top Story: Dodd Calls Obama Plan Too Ambitious
2. M & A: MetLife Confirms Talks Over A.I.G. Unit
3. Banking: From Sydney: Interest Rates and Indiscretion
4. Private Equity: Istithmar Said to Shop Port Unit
5. Hedge Funds: Galleon Case Informant Faces S.E.C. Charges
6. Offerings: A Word of Caution on New Russian I.P.O.s
7. Venture Capital: Agnilux? It Means, 'Won't Say a Peep'
8. Legal: In Court, Challenges of Madoff Trustee's Plans


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----------------------------------------


1. Top Story: Dodd Calls Obama Plan Too Ambitious
----------------------------------------

Christopher J. Dodd, the chairman of the Senate Banking Committee,
warned that the Obama administration's new proposals to rein in Wall
Street firms ran the risk of derailing months of delicate negotiations
over overhauling financial regulations.

"It's not a movable feast," the chairman, Christopher J. Dodd, told
Paul A. Volcker, the former Federal Reserve chairman, who has become an
influential outside adviser to President Obama. "It's adding to the
problems of trying to get a bill done," he said at the end of a hearing
on the proposals, after all the other committee members had already
left, The New York Times reports.

Mr. Dodd, Democrat of Connecticut, added that the administration was
"getting precariously close" to excessive ambition for the legislation.
"I don't want to be in a position where we end up doing nothing because
we tried to do too much," he said.

Go to Article from The New York Times:
http://www.nytimes.com/2010/02/03/business/03regulate.html?dbk


Mr. Volcker pushed his plan on Tuesday to restrict the investment
activities of large banks, telling the Senate Banking Committee that
there was no "rationale for public funds -- taxpayer funds --
protecting and supporting essentially proprietary and speculative
activities."

Go to Item from DealBook:
http://dealbook.blogs.nytimes.com/2010/02/02/volcker-takes-tough-line-on-trading-by-banks/


Does former Mr. Volcker know the difference between private equity
firms and hedge funds? One blogger wants to know.

Go to Article from Private Equity Analyst via The Wall Street Journal:
http://blogs.wsj.com/privateequity/2010/02/02/volckers-understanding-of-pe-comes-across-as-hazy/

Read More
http://dealbook.blogs.nytimes.com/?p=174589&dlbk&emc=dlbk

Add a Comment
http://dealbook.blogs.nytimes.com/?p=174589&dlbk&emc=dlbk#respond


2. M & A: MetLife Confirms Talks Over A.I.G. Unit
----------------------------------------

MetLife on Tuesday confirmed that it is in talks with the American
International Group to buy a major life insurance unit, commonly known
as Alico.

Go to Item from DealBook:
http://dealbook.blogs.nytimes.com/2010/02/02/metlife-confirms-talks-over-aigs-alico/

Go to MetLife Press Release (PDF):
http://www.metlife.com/assets/cao/pr/MetLife4Q2009Rls2-2.pdf

Go to Article from Reuters via The New York Times:
http://www.nytimes.com/reuters/2010/02/02/business/business-us-metlife.html?dlbk

Go to Previous Item from DealBook:
http://dealbook.blogs.nytimes.com/2010/01/19/metlife-nears-a-deal-for-aigs-alico-unit/

Read More
http://dealbook.blogs.nytimes.com/?p=174445&dlbk&emc=dlbk

Add a Comment
http://dealbook.blogs.nytimes.com/?p=174445&dlbk&emc=dlbk#respond

-----

Britain's consumer watchdog has asked for a say in the planned merger
of the U.K. arms of France Telecom's Orange and Deutsche Telekom's
T-Mobile, raising prospects of at least a delay to any deal.

Go to Article from Reuters via The New York Times:
http://www.nytimes.com/reuters/2010/02/03/business/business-uk-orange-tmobile.html?scp=1&sq=t-mobile&st=cse

Go to Article from The Financial Times:
http://www.ft.com/cms/s/0/184116de-1098-11df-975e-00144feab49a.html

Go to Press Release from the O.F.T.:
http://www.oft.gov.uk/news/press/2010/08-10

Go to Related Item from DealBook:
http://dealbook.blogs.nytimes.com/2010/01/26/t-mobile-needs-orange-merger-to-compete-exec-says/

Read More
http://dealbook.blogs.nytimes.com/?p=174735&dlbk&emc=dlbk

Add a Comment
http://dealbook.blogs.nytimes.com/?p=174735&dlbk&emc=dlbk#respond

-----

Pearson, owner of The Financial Times, has bought Medley Global
Advisors, a provider of macroeconomic intelligence to hedge funds and
banks, as the company shifts emphasis from advertising-funded
publications to subscription services.

Go to Article from Reuters via The New York Times:
http://www.nytimes.com/reuters/2010/02/03/business/business-uk-pearson-ft-acquisition.html?dbk

Go to Press Release from Pearson:
http://www.pearson.com/media-1/pearson-news/?i=1216

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-----

Bank of New York Mellon is growing, but at a price, Breakingviews says,
and PNC's shareholders seem to be getting the better end of the
transaction.

Go to Article from Breakingviews via The New York Times:
http://www.nytimes.com/2010/02/03/business/03views.html?dbk

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-----

Kraft declared victory on Tuesday in its pursuit of Cadbury, announcing
that it has won widespread support from the British confectioner's
shareholders.

Go to Item from DealBook:
http://dealbook.blogs.nytimes.com/2010/02/02/kraft-seals-deal-for-cadbury/


Hershey defended its decision to back away from a Cadbury bid and a
bigger stake in the global confectionery market, saying it remained
confident about its growth prospects and was raising its dividend.

Go to Article from Reuters via The New York Times:
http://www.nytimes.com/reuters/2010/02/02/business/business-us-hershey.html?dbk

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3. Investment Banking: From Sydney: Interest Rates and Indiscretion
----------------------------------------

As Chris Bath, an announcer for 7 News, spoke with Martin Lakos on live
television about the possibility of the Australian central bank
eventually lifting interest rates, a Macquarie employee was looking at
what appear to be semi-nude photographs in the background.

Go to Item from DealBook:
http://dealbook.blogs.nytimes.com/2010/02/03/interest-rates-and-nudy-shots-in-sydney/

Go to Article from The Australian:
http://www.theaustralian.com.au/business/media/macquarie-banker-filmed-ogling-nude-miranda-kerr-pictures-named/story-e6frg996-1225826327979

Go to Article from Bloomberg News:
http://www.bloomberg.com/apps/news?pid=20601208&sid=a4EdsRgfT6EM

Go to Video from 7 News via YouTube:
http://www.youtube.com/watch?v=v1m8a4Jl4ZI

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http://dealbook.blogs.nytimes.com/?p=174691&dlbk&emc=dlbk

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-----

Lazard, the independent investment bank, reported a $54.9 million loss
for its fourth quarter, as the firm took charges related to changes in
its compensation policies and stock payouts tied to the death of its
former chief executive, Bruce Wasserstein.

Go to Item from DealBook:
http://dealbook.blogs.nytimes.com/2010/02/03/lazard-posts-loss-in-4th-quarter-on-compensation-charges/

Go to Lazard Press Release via Business Wire:
http://www.businesswire.com/news/home/20100203005769/en/Lazard-Reports-Fourth-Quarter-Full-Year-2009-Results

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http://dealbook.blogs.nytimes.com/?p=174773&dlbk&emc=dlbk

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-----

Bank of America has approved more than $4 billion in 2009 pay for its
investment bankers and traders, according to The Wall Street Journal.

Go to Article from The Wall Street Journal:
http://online.wsj.com/article/SB10001424052748703338504575041663923952520.html

Go to Article from Reuters via The New York Times:
http://www.nytimes.com/reuters/2010/02/02/business/business-us-boa.html?dbk


The bank is also poised to hire 2,000 retail brokers this year, The
Financial Times reported, citing unidentified sources.

Go to Article from The Financial Times:
http://www.ft.com/cms/s/0/fa3a52a2-104e-11df-841f-00144feab49a.html

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http://dealbook.blogs.nytimes.com/?p=174659&dlbk&emc=dlbk

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-----

Mitsubishi UFJ Financial Group, Japan's top bank, swung to profit in
the quarter ending Dec. 31, buoyed by trading gains and an improvement
in its stock portfolio, and kept its full-year forecast.

Go to Article from Reuters via The New York Times:
http://www.nytimes.com/reuters/2010/02/03/business/business-mufg.html?dbk

Go to Press Release from Mitsubishi UFJ:
http://www.mufg.jp/english/ir/fs/

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-----

What are the odds that 2010 will be as benign as last year for the
world's economies? In his latest column, Thomas Friedman writes that
the odds are low, and wonders whether the struggle between banks and
President Obama has a win-win resolution.

Go to Op-Ed from The New York Times:
http://www.nytimes.com/2010/02/03/opinion/03friedman.html?dbk

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-----

The Financial Services Authority of Britain has told banks in the City
to cooperate in deferring 60 percent of all pay, regardless of
contractual obligations, or risk having their banking licenses
withdrawn, The Telegraph reports, citing unidentified sources.

Go to Article from The Telegraph:
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7141221/Banks-told-to-comply-on-bonuses-or-lose-UK-banking-licences-in-shock-FSA-ultimatum.html


Goldman Sachs's London-based partners expect the investment bank to
make them whole through stock grants, after having their 2009 bonuses
capped, The New York Post reported.

Go to Article from The New York Post:
http://www.nypost.com/p/news/business/goldman_to_defer_brits_1FAMv3AgV2gM85ehA3HSvL

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http://dealbook.blogs.nytimes.com/?p=174603&dlbk&emc=dlbk

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-----

The PNC Financial Services Group, one of the largest regional banks,
said Tuesday that it would pay back $7.6 billion in government bailout
money to the Treasury Department.

Go to Item from DealBook:
http://dealbook.blogs.nytimes.com/2010/02/02/pnc-to-repay-tarp-money-after-sale-of-unit/

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-----

Galileo Capital Management has started LGBT Capital, a specialist
corporate advisory and investment management unit that will focus
exclusively on the lesbian, gay, bisexual and transgender consumer
market.

Go to Item from DealBook:
http://dealbook.blogs.nytimes.com/2010/02/02/galileo-sets-up-lgbt-capital-for-gay-market/

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4. Private Equity: Istithmar Said to Shop Port Unit
----------------------------------------

Dubai World's investment arm Istithmar has put port and shipping agent
Inchcape Shipping Services up for sale for $600 million to $700 million
and has attracted interest from private equity groups, The Financial
Times reported Wednesday.

Go to Article from The Financial Times:
http://www.ft.com/cms/s/0/312dc536-102d-11df-841f-00144feab49a.html

Go to Article from Reuters:
http://www.reuters.com/article/idUSLDE6112OZ20100203

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-----

Odyssey Investment Partners said Tuesday that it had inked a deal to
buy Wencor Group, a commercial distributor and maker of aircraft parts.

Go to Article from The Salt Lake Tribune:
http://www.sltrib.com/business/ci_14319461

Go to Article from The Deal (Subscription Required):
http://www.thedeal.com/dealscape/2010/02/odyssey_acquires_aircraft_part.php

Go to Press Release from Odyssey via Earthtimes:
http://www.earthtimes.org/articles/show/imperial-capital-llc-advises-odyssey,1148587.shtml

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-----

Avista Capital Partners, a private equity firm specializing in energy,
healthcare and media investments, said on Tuesday that it has hired
former Bush administration official Jim Nussle to its advisory board.

Go to Item from DealBook:
http://dealbook.blogs.nytimes.com/2010/02/02/avista-hires-ex-bush-official-to-advisory-board/

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5. Hedge Funds: Galleon Case Informant Faces S.E.C. Charges
----------------------------------------

David R. Slaine, a former Wall Street hedge fund manager and head of
Nasdaq trading at Morgan Stanley who secretly recorded conversations
for the government in the Galleon Group insider trading case, was
accused of insider trading by the Securities and Exchange Commission on
Tuesday.

Go to Item from DealBook:
http://dealbook.blogs.nytimes.com/2010/02/02/galleon-case-informant-faces-sec-charges/


The Securities and Exchange Commission admitted in court filings that
federal prosecutors mistakenly sent the agency confidential wiretap
information from the criminal insider trading case against Galleon
Group founder Raj Rajaratnam.

Go to Item from DealBook:
http://dealbook.blogs.nytimes.com/2010/02/02/sec-admits-it-received-galleon-wiretaps/

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http://dealbook.blogs.nytimes.com/?p=174241&dlbk&emc=dlbk

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-----

The hedge fund Paulson & Co., run by John A. Paulson, has received an
information request from the Securities and Exchange Commission, The
Financial Times reported, citing unidentified sources.

Go to Article from The Financial Times:
http://www.ft.com/cms/s/0/a0bc0e48-105b-11df-a8e8-00144feab49a.html

Read More
http://dealbook.blogs.nytimes.com/?p=174759&dlbk&emc=dlbk

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-----

Harold E. Ford Jr.'s potential bid for New York Senator Kirsten E.
Gillibrand's seat has touched off a war for the city's richest donors,
especially those on Wall Street, as both camps race to nail down
financial support and demonstrate the breadth of their Rolodexes.

Go to Article from The New York Times:
http://www.nytimes.com/2010/02/03/nyregion/03donors.html?dbk

Go to Related Item from DealBook:
http://dealbook.blogs.nytimes.com/2010/01/29/bank-tax-is-knotty-issue-for-new-yorks-senators/

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http://dealbook.blogs.nytimes.com/?p=174687&dlbk&emc=dlbk

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-----

A key U.S. lawmaker, Senator Maria Cantwell of Washington, is set to
join forces with several business groups on Wednesday to call for
Congress to end the "reckless speculation" in commodity markets as the
Senate prepares to take on financial reform.

Go to Article from Reuters via The New York Time:
http://www.nytimes.com/reuters/2010/02/02/us/politics/politics-us-commodities-speculation.html?dbk

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-----

The hedge fund and private equity industry may not have been too
pleased with some of the proposals put forth by President Barack Obama
in his 2011 budget blueprint Monday.

Go to Article from Reuters via The New York Times:
http://www.nytimes.com/reuters/2010/02/01/us/politics/politics-us-obama-budget-taxes.html?dbk

Go to Article from The Wall Street Journal:
http://online.wsj.com/article/SB10001424052748704107204575039132987274858.html

Go to Article from Politico:
http://www.politico.com/news/stories/0210/32350.html

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6. I.P.O.s/Offerings: A Word of Caution on New Russian I.P.O.s
----------------------------------------

Russian initial public offerings are set for a comeback, and investors
should be able to drive a hard bargain, Breakingviews says.

Go to Article from Breakingviews via The New York Times:
http://www.nytimes.com/2010/02/03/business/03views.html?dbk

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-----

Investors rallied on Tuesday behind signs of stability in the housing
sector and indications that businesses had bolstered revenue, lifting
stocks for a second day.

Go to Article from The New York Times:
http://www.nytimes.com/2010/02/03/business/03markets.html?dbk

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-----

China First Heavy Industries set its $1.67 billion Shanghai initial
public offering price below the top of its range, the first to do so
since China resumed I.P.O.s last June, and a sign of growing realism as
markets weaken and regulators demand more rational pricing.

Go to Article from Reuters:
http://www.reuters.com/article/innovationNews/idUSTRE61219Q20100203

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7. Venture Capital: Agnilux? It Means, 'Won't Say a Peep'
----------------------------------------

There's only one thing more frustrating for reporters than a stealth
start-up, and that's a stealth start-up run by former Apple employees.
That would be Agnilux, a secretive venture populated by chip designers.

Go to Item from Bits:
http://bits.blogs.nytimes.com/2010/02/02/agnilux-is-start-up-for-wont-say-a-peep/?dlbk

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http://dealbook.blogs.nytimes.com/?p=174157&dlbk&emc=dlbk

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-----

Silicon Valley's venture capitalists and their investors are finally
feeling the full effect of the dot-com crash a decade ago, thanks to
the industry's long-term approach to tracking returns.

Go to Item from Bits:
http://bits.blogs.nytimes.com/2010/02/02/dot-com-crash-catch-up-with-venture-capitalists/?dbk

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http://dealbook.blogs.nytimes.com/?p=174707&dlbk&emc=dlbk

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-----

Denham Capital said Tuesday that it has invested an additional $108
million in Vulcan Power, a developer of geothermal energy projects.

Go to Article from The Associate Press via The New York Times:
http://www.nytimes.com/aponline/2010/02/02/business/AP-US-Denham-Capital-Vulcan-Power.html?dbk

Go to Joint Press Release:
http://www.vulcanpower.com/html/news/vulcannews9.html

Read More
http://dealbook.blogs.nytimes.com/?p=174693&dlbk&emc=dlbk

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8. Legal: In Court, Challenges of Madoff Trustee's Plans
----------------------------------------

Victims of Bernard L. Madoff got their day in court to challenge how
Irving H. Picard, the trustee in charge of dividing up what can be
salvaged from Mr. Madoff's record-setting scheme, is calculating
investor losses.

Go to Article from The New York Times:
http://www.nytimes.com/2010/02/03/business/03sipc.html?dbk


A federal judge in Manhattan dismissed all of the Securities and
Exchange Commission's civil fraud complaints against Cohmad Securities,
a small brokerage firm that the S.E.C. said had played a role in the
long-running Ponzi scheme.

Go to Article from The New York Times:
http://www.nytimes.com/2010/02/03/business/03madoffside.html?dbk


Britain's Serious Fraud Office said Tuesday that it would not pursue
legal action against the British operations of Mr. Madoff, now in jail
in the United States.

Go to Article from The New York Times:
http://www.nytimes.com/2010/02/03/business/03madoff.html?dbk

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-----

The Obama administration is prepared to impose fees on financial firms
for as long as necessary to ensure that every cent spent on bailing out
banks is repaid, Treasury Secretary Timothy F. Geithner said.

Go to Article from Reuters via The New York Times:
http://www.nytimes.com/reuters/2010/02/02/business/business-us-obama-budget-geithner.html?dbk

Read More
http://dealbook.blogs.nytimes.com/?p=174649&dlbk&emc=dlbk

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-----

Moody's Investors Service said Tuesday that unless the U.S. government
makes more moves to decrease the budget deficit or the economy improves
more than anticipated, the government's ''Aaa'' bond rating will
eventually be put under pressure.

Go to Article from The Associated Press via The New York Times:
http://www.nytimes.com/aponline/2010/02/02/business/AP-US-TEC-US-Moodys.html?dbk

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-----

The American International Group has agreed to cut employee bonuses by
$20 million and will distribute about $100 million on Wednesday,
according to people familiar with the negotiations.

Go to Article from The New York Times:
http://www.nytimes.com/2010/02/03/business/03aig.html?dbk


A.I.G., which was saved from collapse by a $180 billion government
bailout, said Tuesday that it had named a former top lawyer from Lehman
Brothers as its general counsel.

Go to Item from DealBook:
http://dealbook.blogs.nytimes.com/2010/02/02/aig-taps-lehman-alumnus-for-its-top-lawyer/

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-----

Representative Barney Frank, chairman of the House Financial Services
Committee, contends that regulators should force companies to disclose
the compensation for their best-paid employees, potentially forcing
Wall Street to reveal how much top traders and money managers earn.

Go to Article from Bloomberg News:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aQ_6NbIIIpWs&pos=4

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