President Barack Obama will travel to New Jersey on Sunday to survey damage from Hurricane Irene.
A proposal before the Securities and Exchange Commission that would require public companies to disclose political contributions has drawn some favorable comments from investors, but it won’t go a long way in meeting the demands of those advocating for more transparency in political fundraising.
A group of 10 law professors filed a formal petition asking the commission to require corporations to list political contributions in annual proxy statements sent to shareholders. The professors cite a growing interest among shareholders for disclosure of political contributions.Read full article >>
Updated 9:50 p.m.
President Obama will address a joint session of Congress on Sept. 8 to lay out his plan for jobs and the economy, the White House announced Wednesday night.
The date is one day later than the president requested earlier Wednesday, but that date conflicted with a scheduled debate of Republican presidential candidates in California, drawing objections from GOP lawmakers.Read full article >>
WASHINGTON — The U.S. has lost billions of dollars to waste and fraud in Iraq and Afghanistan and stands to repeat that in future wars without big changes in how the government awards and manages contracts for battlefield support and reconstruction projects, independent investigators said Wednesday.
The Wartime Contracting Commission urged Congress and the Obama administration to quickly put in place its recommendations to overhaul the contracting process and increase accountability. The commission even suggested that the joint House-Senate debt reduction committee take a close look at the proposals.Read full article >>
A company that served as a showcase for the Obama administration’s effort to create jobs in clean technology shut down Wednesday, leaving 1,100 people out of work and taxpayers obligated for $535 million in federal loans.
Solyndra, a California solar panel maker, had long been an administration favorite. Over the past two years, President Obama and Energy Secretary Steven Chu each had made congratulatory visits to the company’s Silicon Valley headquarters.
Although Wednesday’s announcement came as a surprise, House Republicans and government auditors had questioned the wisdom of the administration’s loan guarantees to the company, backed by capital from billionaire Democratic fundraiser George Kaiser. In July, a House subcommittee subpoenaed White House documents related to the guarantee, and after Wednesday’s developments, Republican lawmakers vowed to continue investigating.Read full article >>
FreedomWorks is pulling out of a nationwide bus tour led by Tea Party Express over the inclusion of 2012 presidential candidate Mitt Romney as a speaker, saying the group cannot endorse any event where the former Massachusetts governor speaks.
FreedomWorks also took issue with an earlier speech by Sen. Orrin Hatch (R-Utah.).
The split signifies a growing divide between two groups that represent the ‘establishment’ of the tea party movement.Read full article >>