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...letter on Wednesday to Bank of America employees, Lewis wrote, "Some will suggest that I am leaving under pressure or because of questions regarding the Merrill deal. I will simply say that this was my decision, and mine alone." It is also abrupt. Just months ago, Lewis told Congress he intended to stay on as head of Bank of America until all the assistance it had gotten from the government to survive the financial crisis had been repaid. It seems unlikely that Bank of America will be able to pay back the government $45 billion anytime soon...
...Congress is one of them. The Kerry-Boxer bill is only one of several pieces of legislation that the Senate will need to consider as it takes on cap and trade - about which the Finance Committee is only one powerful group that will have its say - and the chances that any kind of carbon cap will pass seem vanishingly small. As long as the Senate is stuck on other business, like health care, Obama and his negotiators will have their hands essentially tied at the U.N. climate-change summit in Copenhagen three months from now. They can't commit...
...position was not previously known, Senators Bill Nelson and Thomas Carper. It still failed, 13 to 10, but the new tally indicated that there may be some room to negotiate with wary Democrats on the structure of a public option. The Senate Finance Committee is one of five in Congress with jurisdiction over health care; bills from the Senate Health, Education, Labor and Pensions Committee and three committees in the House do contain public options. There is also a chance, however slight, that 60 Senators would vote to end a filibuster, even if some of them peeled away when...
President Barack Obama is taking out a blank sheet of paper this week as he weighs his options in Afghanistan, and Congress stands more than willing to fill it in. The Senate on Sept. 29 is expected to debate amendments to the 2010 defense appropriations bill that are likely to include everything from timelines for withdrawal of U.S. troops from Afghanistan to proposals to send upwards of 40,000 more. But, unlike health-care reform, this isn't a decision Obama can leave in the hands of the Legislative Branch - however undecided he remains today...
Along those lines, Republicans are expected to introduce a spate of amendments to this week's fiscal 2010 Defense Appropriations Act in the Senate. One will probably be a demand to have McChrystal testify before Congress - a move the Defense Department has so far resisted until after the Administration sets its policy. Other potential amendments include one to increase funding for troop training, an amendment expressing the sense of the Senate in support of troop increases and maybe even one expressly supporting McChrystal's recommendations. On the Democratic side, an amendment is expected, perhaps from Wisconsin Democrat Russ Feingold, that...