Good morning.
The President is heading to New York City today. He's going to the belly of the beast (or close to it. He'll be in Lower Manhattan at Cooper Union's Great Hall) to lay down the marker for what he wants in the financial reform that's currently being discussed in the Senate. From the Daily Guidance:
The President will urge Wall Street to join him in the effort to reform the financial system -- not fight it -- and to lean on Washington to pass the tough Wall Street reform bill in front of the Senate that protects consumers, ends Too Big to Fail and brings transparency to the derivatives market.
Okay, this is just a gut feeling: I don't expect Wall Street to join Obama in the reform effort.
Reports from Capitol Hill are that a bipartisan deal may be near on the financial reform bill. Majority Leader Harry Reid could schedule votes for Monday. Of course, now that legislation is real, expect those Wall Street bankers and their army of lobbyists to go into overdrive.
This afternoon, Michelangelo Signorile is hosting a town hall meeting called
"The Path Forward: An LGBT Leadership Town Hall." The event will be broadcast during Mike's show on Sirius XM Radio’s OutQ Channel. John and I will be attending and reporting from the event. This is coming at a critical time. Yesterday, we
got even more evidence that the Obama administration does not want legislative action on the repeal of Don't Ask, Don't Tell this year. Time is running out for that to happen. And, it's not often that the majority party in Congress will pass legislation that defies a president of their own party.
Let's get it started...should be an interesting day....
Read More......