Nearly two years after the economic meltdown in fall 2008, the U.S. Senate voted Thursday to approve a sweeping financial reform bill aimed at the reckless Wall Street investors who caused the crisis.
The Senate voted 60-39 to pass the reforms sought by President Obama. Three Republicans — Scott Brown of Massachusetts, along with Susan Collins and Olympia Snowe of Maine — joined Democrats in supporting the bill.
As Mitt Romney gets ready to attend a $2,500 a plate fundraiser at downtown’s Great American Tower, the local Democratic Party chairman says the presidential hopeful’s economic plan “would do nothing to create jobs now.”
Hamilton County Democratic Party Chairman Tim Burke released a statement this afternoon describing why he believes a Romney presidency would be disastrous for middle-class Americans.
Meanwhile, a group of community leaders led a protest outside of the East Fourth Street office building as attendees arrived for the fundraiser. The protest was organized by the Service Employees International Union (SEIU) District 1199, which represents more than 30,000 health-care and social service workers across Ohio, Kentucky and West Virginia.
“Mitt Romney holding $2,500 per person fundraiser at the Great American Tower is a perfect example of exactly who he is and who he represents,” said Becky Williams, SEIU’s district president, in a prepared statement. “While Romney is hobnobbing on the rooftop with his wealthy donors hosted by American Financial Group, ordinary Ohioans are struggling to find work and provide for their families.”
The co-host for the fundraiser is S. Craig Lindner, co-president and director of American Financial Group Inc., whose total compensation in 2010 totaled $8.3 million, according to Forbes magazine.
“Nothing Mitt Romney says can change the fact that he spent his career as a corporate buyout specialist who put profits over people and lined his pockets by outsourcing jobs, closing down plants and laying off workers,” Burke said.
“His 59-point economic plan would do nothing to create jobs now, fix America’s economy or help struggling homeowners avoid foreclosure. His tax plan would benefit the ultra-wealthy and do nothing to help middle-class families in Greater Cincinnati,” Burke added.
In preparation for Romney’s visit today, the Democratic National Committee pointed out that the investment firm once led by the candidate, Bain Capital, rejected a government offer to invest in General Motors (GM) during the 2008 financial crisis.
Romney has said on the campaign trail that he opposed the government bailout of U.S. automakers because the private market would have provided loans so GM and Chrysler Corp. could go through managed bankruptcy. But sources told The New York Times that Bain turned down an offer to help GM at the time.
“To go through the bankruptcy process, both companies needed billions of dollars in financing, money that auto executives and government officials who were involved with Mr. Obama’s auto task force say was not available at a time when the credit markets had dried up,” the article stated.
It added, “The only entity that could provide the $80 billion needed, they say, was the federal government. No private companies would come to the industry’s aid, and the only path through bankruptcy would have been Chapter 7 liquidation, not the more orderly Chapter 11 reorganization, these people said.”
The corporate parent of The Enquirer is offering a voluntary “early retirement” buyout proposal to rid the company of some older and more highly paid employees.
Robert J. Dickey, president of The Gannett Co.'s U.S. newspaper division, announced the buyout offer Thursday in a memorandum to employees.
William Floyd, known as “Baldy” to most people, died late Sunday night after a fire spread through a camp near Mehring Way and Sixth Street downtown. Baldy was 44 or 45, according to different records.
It's definitely a sign of the times we live in.
More than 70 unemployed people were joined by labor union leaders, clergy and community activists today to push of the passage of a federal jobs bill. In an event organized by the AMOS Project, the crowd circled Fountain Square chanting, “We need a job” and “I'm ready to work,” while brandishing signs containing similar sentiments.
As if the tightly wound Jean Schmidt hadn’t embarrassed Greater Cincinnati enough with her odd remarks sparking a Saturday Night Live parody in 2005, this weekend it was John Boehner and Mitch McConnell taking their turn in the satirical spotlight.
In SNL’s opening skit, Dan Ackroyd portrayed Boehner (the congressman from West Chester) and Darrell Hammond played McConnell (the U.S. senator from Louisville) as the pair plotted the Republican Party’s misguided comeback and debated whom the GOP should take advice from, Sean Hannity or Rush Limbaugh.
Some advertisers are evil. Its' true, we all can admit it. I'm sure Bill Gates thought that when the Apple people came after him. But Pizza Hut has not only taken evil to a whole new level and have managed to do it in a way that will probably get them less business. Check out this video.