CNN’s Erin Burnett Bristles at Republican’s ‘Young Lady’ Comment
CNNIt was a rocky first appearance on CNN for Republican Rep. Troy Nehls—who inspired near-immediate pushback by addressing veteran host Erin Burnett as “young lady.”The interview was conducted amid continued chaos as Republicans continue to disagree about who should become the next Speaker of the House. Nehls, a supporter of Rep. Kevin McCarthy (R-CA), also cheekily referred to his maiden voyage on the “Clinton News Network”—a comment Burnett declared “a bit rude.”Just before the confrontation,news.yahoo.com
House panel to hold hearing on crypto exchange FTX collapse
WASHINGTON — (AP) — Lawmakers plan to investigate the failure of FTX, the large crypto exchange that collapsed last week and filed for bankruptcy protection, leaving investors and customers staring at losses that could total in the billions of dollars. The panel also expects to get testimony from FTX representatives, other crypto exchanges including Binance, Bankman-Fried’s hedge fund, Alameda Research, and others at a December hearing. But the sheer size of FTX's collapse highlights the massive market risks inherent in the growing crypto industry. The circumstances have prompted investigations by the Justice Department and Securities and Exchange Commission. “We must get to the bottom of this for FTX’s customers and the American people,” ranking member Rep. Patrick McHenry (R-N.C.) said.wftv.com
Homicides are up, but GOP misleads with claims about blame
But the claims by Republicans overlook the fact homicides are up in many cities, including ones that increased police spending or have Republican mayors. But the reductions were mostly modest, and the same big increases in homicides are being seen nationwide — even in cities that increased police spending. The numbers in it were alarming: Homicides in Chicago, up by 22% through late May compared with the same period last year. Nashville, Tennessee, also led by a Democratic mayor, increased the police budget but has seen homicides spike 50% so far this year over last. Now, just as then, misleading claims about crime seem designed to exploit racism among white voters while ignoring the real reasons behind the increase in homicides, she said.wftv.com
Deadline looms, but COVID relief deal may be far off
She said the two sides would take stock on Tuesday, which she has staked out as the deadline if a deal is to be reached before the election. Pelosi is angling for the best deal she can get — maybe that’s now, maybe it’s later. And if history is any guide, prospects for a deal in the lame-duck session after the election could be dim. But the Senate GOP bill has failed once before, and Trump himself says it's too puny. For months she has been promising a COVID relief package of more than $2 trillion stuffed with Obama-era stimulus ideas.
New jobs report diminishes GOP appetite for more virus aid
WASHINGTON An unexpectedly strong jobs report could further scramble an already uncertain picture for passing a fifth and possibly final coronavirus aid bill. The positive statistics are feeding the wait-and-see approach of the White House and its GOP allies in Congress. Republicans say the numbers vindicate their decision to take a pause and assess the almost $3 trillion in assistance they already have approved. The coming weeks are expected to bring difficult negotiations over what the package should contain, just months before an election where the White House and control of Congress are at stake. Fridays jobs report showed a 2.5 million gain instead of an expected loss of millions more, complicating prospects for the aid talks.
GOP congressman: Libra hearing is 'American innovation on trial' by lawmakers who don't get it
Republican Rep. Patrick McHenry told CNBC on Wednesday he's concerned that the hearing on the Facebook-backed cryptocurrency libra will stifle innovation. "My fear is that we now have American innovation on trial by policymakers here in Washington because they don't understand it," the North Carolina congressman said on "Squawk Box." "Because they're a big company doing this type of innovation, you have American policymakers trying to pounce on them," McHenry added. In prepared remarks, Zuckerberg told lawmakers the digital coin "will extend America's financial leadership as well as our democratic values and oversight around the world." The Libra Association has 21 members, including Facebook, Uber and Lyft, each with a single voting power.cnbc.com
House passes cannabis banking bill
The Secure and Fair Enforcement Banking Act, known as the SAFE Banking Act, passed the House Wednesday by a vote of 321 to 103. Banks providing services to state-approved cannabis businesses could face criminal and civil liability under some banking statutes, so cannabis companies resort to operating on cash. "The passage of the SAFE Banking Act improves the likelihood that other cannabis legislation will advance at the federal level," Hawkins said in a statement Wednesday. While Democrats supported the SAFE Banking Act, several reiterated their calls for the legalization of the drug. Ahead of the vote, House Majority Leader Steny Hoyer said in a statement that he's "proud" to bring the SAFE Banking Act to the House floor, "but I believe it does not go far enough."