Word: courting
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That does not mean that the bank cannot play the Merrill card in the court of public opinion. B of A's CEO Ken Lewis has already made the case the Henry Paulson virtually forced him to close the Merrill deal because it was in the best interests of the country's troubled financial system. If that transaction is at the heart of B of A's capital shortfall, the firm has a legitimate argument that because it helped the government when it was in a jam, it is time for the government to repay the favor...
Political junkies who weren't thrilled at the prospect of a relatively staid confirmation process for President Barack Obama's as yet unnamed Supreme Court nominee can rest easy. This week Senate Republicans named perennial bomb thrower Jeff Sessions, 62, of Alabama to be the top Republican on the Senate Judiciary Committee, promising to bring at least a few sparks to a confirmation process that - if Minnesota's Al Franken is seated - was bound to be relatively easy...
...years ago, the same committee he now leads on the Republican side rejected Sessions' nomination to the federal bench. President Ronald Reagan already had more than 200 conservative judges confirmed when he nominated Sessions, then the young U.S. Attorney for the Southern District of Alabama, to the U.S. District Court in Alabama. At his confirmation hearing, Democrats tracked down a Justice Department employee named J. Gerald Hebert who had worked with Sessions on civil rights cases. Hebert told the committee that Sessions had once complained to him that the American Civil Liberties Union and the National Association for the Advancement...
...Supreme Court nominations...
...amount of money owed to creditors at GM, some $27 billion, is about four times the amount that Chrysler had to deal with. The paper writes "General Motors' creditors number in the tens of thousands and include pension funds that bought the company's unsecured bonds." Will a court have more pity for that multitude than it would the few large firms that were Chrysler's creditors? Probably not, if justice is blind. Still, GM's list of bondholders is long enough so it could slow the pace at which a judge would be able make his way through...