Word: bailouts
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...March 9 edition of CNBC's Squawk Box, Becky Quick was interviewing Berkshire Hathaway CEO Warren Buffett when the Oracle of Omaha expressed support for the Obama Administration's mortgage bailout. "Becky," co-host Joe Kernen broke in, "tell Warren you're mad that you've done all the right things and all these other people are going to get bailed out." Buffett replied, "There's nothing wrong with being mad, Joe. It's just that there are times when you're mad about something that you've got to overcome the emotion...
...senior statesmen, someone who endorsed Barack Obama early on in the presidential campaign and who hails from a solidly blue state. As chairman of the Senate Banking Committee, Dodd has played a central role in shepherding much of Obama's economic agenda, from the second half of the bank bailout to the coming overhaul of regulations governing Wall Street. With his good friend Ted Kennedy sidelined with brain cancer, Dodd has stepped in to help take a lead role on health-care reform. In fact, at one point earlier this year, before the Inauguration, Dodd was de facto chairman...
...George W. Bush's warrantless wiretapping powers over concerns from the left about granting telecom giants retroactive immunity for working with the Administration. Most notably, Dodd, against the wishes of the White House, slipped into the stimulus bill tough limits on compensation for Wall Street firms accepting additional federal bailout money. The restrictions were tougher, and more far reaching, than anything Obama had pushed for, and both White House advisers and the investment-banking community claimed that Dodd's provisions could have the perverse incentive of causing firms that really need help to refuse it. "I was sort of surprised...
...disappointed, however, that certain members of Congress have used this recession as an excuse to enact legislation that makes it all but impossible for financial firms to hire skilled foreign graduates of American universities, including Harvard. A little-known provision in the ARRA classifies all firms receiving federal bailout funds from the Troubled Assets Relief Program as H-1B dependent, legally mandating them to find American citizens or legal permanent residents to fill any job opening before offering a position to qualified international applicants...
...fact, Bunning's reliably - and defiantly - conservative voting record is largely in tune with Kentucky's reddest voters, the same folks who will decide the primary in 2010. His fervent opposition to the bank bailout increasingly looks smart, at least in the minds of many in Kentucky who are unimpressed with the economic recovery plans. Strongly against abortion and gay marriage, Bunning was rated last year as the third most conservative senator by the National Journal...