News Focus
News Focus
Followers 212
Posts 319403
Boards Moderated 11
Alias Born 12/01/2002

Re: daytraderkidd post# 19462

Tuesday, 06/22/2010 5:41:12 PM

Tuesday, June 22, 2010 5:41:12 PM

Post# of 95274
Today's edition of quick hits:

* Mike Allen thinks all signs point to Gen. McChrystal's ouster. Michael Scherer thinks all signs point to the opposite. I guess we'll find out soon enough.

* There is one report, from Joe Klein citing an anonymous source, that McChrystal has offered to resign.

* Defense Secretary Robert Gates said today that his top commander in Afghanistan "made a significant mistake and exercised poor judgment" in his remarks to Rolling Stone.

* Plenty of Republicans have been critical of McChrystal today, but as far as I can tell, only one has said publicly that the president probably ought to fire him.

* Ugh: "Sales of previously built homes dropped in May after huge gains the previous two months, a sign that the federal tax credit that helped energize sales at the start of the selling season has sputtered out sooner than expected."

* OMB Director Peter Orszag will leave his post next month, becoming the first member of the president's cabinet to depart. His 18 months on the job is actually a fairly lengthy run by contemporary standards.

* Good to see this on the radar again: "The Obama administration on Tuesday unveiled an ambitious plan that aspires to end homelessness among some of society's most vulnerable groups within the next decade."

* In a pleasant surprise, the Senate confirmed a whole bunch of pending administration nominees, and three district court judges, in one unanimous vote today.

* Five months after a devastating earthquake, all is not well in Haiti's Port-au-Prince.

* Standing up for health care reform: "President Barack Obama unveiled a package of consumer benefits Tuesday to build support for his health care overhaul within a divided nation and warned Republicans about trying to repeal his landmark law. 'We're not going back,' said a defiant president."

* On a related note, Obama is pushing insurers not to use reform as an excuse to raise premiums.

* New Jersey Gov. Chris Christie (R)'s economic plan would increase taxes on some in the middle class, and a cut taxes on millionaires. No wonder the right loves him.

* Will Congress pass a budget blueprint this year? Not so much.

* Good news out of the Wall Street reform conference committee on card-swipe fees.

* GAO to investigate for-profit colleges. Should be interesting.

* Big news in the media world: "CNN announced on Monday that it will no longer use content from the Associated Press, ending a business relationship that had been in place since the cable network's inception." CNN will be in a position to act as a permanent AP rival.

* Speaking of interesting media developments, Rolling Stone scored an incredible scoop with its McChrystal story, but handled it incredibly poorly.

* And in case anyone missed it, the major Rolling Stone on McChrystal is, finally, online.


#board-2412


"We are what we repeatedly do. Excellence, therefore, is not an act, but a habit." - Aristotle

Discover What Traders Are Watching

Explore small cap ideas before they hit the headlines.

Join Today