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26 June 2010 4:58 PM | Tagged: credit default swaps
WASHINGTON — The revamp of financial regulation that was agreed to Friday and is going to a vote in both houses of Congress next week addresses head-on much of what brought about the financial crisis: — Mortgage and predatory lending.Numerous federal regulators lose consumer protection powers to a new Bureau of Consumer Financial Protection , which has the consumer as its sole focus.

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26 June 2010 4:58 PM | Tagged: sen john mccain
Arizona Sen.John McCain has opened a big lead over his GOP primary opponent, former Rep.J.D.Hayworth.A new Magellan Strategies poll of likely Republican voters in the state finds McCain leading Hayworth by 23 points, 52 percent to 29 percent.While McCain has led Hayworth in the polls for months, this is the senator's biggest lead in the race.McCain led Hayworth by just 12 points last month —

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26 June 2010 4:58 PM | Tagged: michael hastings
David Brooks occupies a lofty perch on the op-ed page of the New York Times, one that permits the columnist to get inside the corridors of Washington power.He's got enough pull in the White House to reference President Obama as a senior background source.Brooks wrote Friday about how the most interesting part of my job is [getting] to observe powerful people at close quarters. There, he's heard

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26 June 2010 4:57 PM | Tagged: keith olbermann
Washington Post blogger David Weigel resigned from the newspaper Friday, after the publication of emails that included harsh criticism of right-wing media personalities and some elements of the conservative movement.   Dave offered his resignation and we accepted it, a Post spokeswoman told Yahoo! News.Weigel, a prolific reporter and blogger, covered the conservative movement for seve

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26 June 2010 4:57 PM | Tagged: credit default swaps
The House and Senate hope to send a landmark financial regulatory overhaul to President Obama by the end of next week, after finalizing the legislation in a bruising 20-hour marathon conference early Friday that hinged on a compromise over derivatives trades by banks. The House is expected to take up the conference report on Tuesday or Wednesday and the Senate is expected to follow suit on Wednes

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26 June 2010 4:57 PM | Tagged: political rhetoric
WASHINGTON – The Obama administration is telling North Korea not to link the case of a detained American with efforts to censure the communist nation for the sinking of a South Korean warship.The State Department said Thursday that North Korea should separate political rhetoric from this matter concerning a private American citizen. The call came after North Korea, citing hostile U.S poli

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26 June 2010 4:57 PM | Tagged: massive oil spill
NEW ORLEANS A tropical storm churning in the Caribbean could be the latest bad news for BP crews trying to contain and clean up the massive oil spill in the Gulf, an effort that has been plagued by setbacks for more than two months.It is still too early to tell exactly where Tropical Storm Alex might go, or how it might affect oil on and below the surface of the Gulf of Mexico, forecasters said.

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26 June 2010 4:57 PM | Tagged: xinhua news agency
BEIJING Workers struggled to repair a broken dyke in south China where persistent heavy rains and devastating floods have so far left at least 379 people dead, state media and government agencies said.Bulldozers dumped rocks and soil to repair a breach in the dykes hemming in the Fu River, in Jiangxi province, which forced over 100,000 people from their homes earlier this week.More water may be