Word: newes
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...Staten Island's motto, "Don't dump on me," comes from the fact that its western shore was long dominated by the Fresh Kills landfill, the repository of much of Manhattan's garbage. Culturally, the island nestling at the southern tip of New York state is a world away from New York City's other four boroughs. It has just one-tenth the population density of Manhattan, and its mostly Republican denizens have more in common politically and demographically with the Deep South than with the heavily Democratic and diverse Gotham. In fact, Staten Island tried to secede from New...
...McMahon has taken a lot of heat from the left for his vote against President Obama's top priority. New York City Council Speaker Christine Quinn canceled a fundraiser for him, and the Service Employees International Union withdrew its support and is now actively searching for a Democrat to challenge McMahon in the September primary, as are MoveOn.org and the local progressive Working Families Party. Still, the unions are split on McMahon, who is usually a strong supporter of the labor agenda, and most other local chapters in his district have remained noticeably quiet on his health care vote. Many...
...city hall - and the two hospitals that serve it are facing big funding cuts under the legislation. The district is also one of the oldest in the state, and McMahon says that over 40% of his seniors are on Medicare Advantage, a program that will be gutted by the new bill. "My constituents are very happy with [my] vote because they understand and they share my concerns," McMahon says in an interview outside the bingo hall. "I know some people are upset, but I've already begun meeting with the progressive clubs in the district to try and smooth things...
...Little in these reforms is really new," Kaufman says of the current White House-backed Democratic Banking Committee plan. He calls the provisions for new "resolution authority" to dissolve failing banks "an illusion," since the sheer size of the institutions makes painless, prepackaged liquidation unlikely. He worries about loopholes that exempt certain highly profitable derivatives from federal oversight. But most of all, he believes the current Senate plan, which relies on the wisdom of bank regulators, won't prevent another crisis. "The sad reality is that regulators had substantial powers," he announced during another Senate-floor speech in March...
...Senate office, Kaufman has stacked the latest books on the financial crisis on his desk, background reading for his regular trips to New York to meet with bankers and analysts. Financial regulation is a crusade he never expected to take on when he accepted his two-year posting. But his 32 years as a Senate aide - and his subsequent time as an academic observer of Washington - taught him not to be discouraged by long odds...