South Carolina Governor Admits Affair

South Carolina Governor Mark Sanford, who had gone missing for several days over the past week, admitted today that he has been having an affair with a woman he met in Argentina eight years ago.

Sanford had told his staff that he was taking a few days off, and strongly implied that he would be hiking on the Appalachian Trail. His wife told reporters that Sanford often disappears like this, and she was not concerned. In reality, she learned about five months ago that he was having an affair, and she knew that he was actually in Argentina this past weekend.

"What I did was wrong. Period," he told reporters in a hastily-called press conference, in which he also resigned as chairman of the Republican Governors Association. "This was selfish."

Sanford was remarkably candid with reporters today, explaining how the two met, and how he grew close to her.

When he met the woman, she was separated, and the two had a deep conversation about why she should get back with her husband. "Not only was it God's law, but ultimately her two boys would be better for it," he said.

At the end of the conversation, they exchanged e-mail addresses. Over the years, they became very close, sharing personal details of their lives and asking for advice.

"When you live in the zone of politics, you can't ever let your guard down," Sanford explained. "It could be a front page story."

Because the woman lived thousands of miles away, Sanford felt a "zone of protectiveness." The two developed a "remarkable friendship," that "sparked into something more than that" about a year ago. He had seen her three times since then.

This illicit relationship was the first and only time he's been unfaithful to his wife, he told reporters.

His wife learned of the affair five months ago, Sanford said. At that point, he tried to figure out what to do next.

"I spent the last five days of my life crying in Argentina, so I could repeat it when I came back here," Sanford said. "From a heart level, it was something real."

Need To Close the Gaps In Resolution Regimes

By Kayleigh Harvey - Talk Radio News Service

“From the outset I have argued that our financial system is not merely in need of ‘reform,’ but of ‘modernization,’” said Senator Christopher Dodd (D-Conn.), Chairman of the Senate Banking, Housing and Urban Affairs Committee.

At the hearing, which discussed “Enhancing Investor Protection and the Regulation of Securities Markets,” Senator Dodd asked the Chairman of the SEC Mary Schapiro, “Were you consulted by the Treasury and the Fed? What role do you think the SEC should play in this resolution mechanism, given the oversight and regulatory responsibilities?”

Senator Dodd also asked Ms. Schapiro to “comment on the reports of the regulatory changes that Secretary Geithner has mentioned this morning.”

Ms. Schapiro responded, “generally there was consultation.”

Ms Schapiro added, “We clearly have gaps in our resolution regime for large financial institutions....I fully support the concept of closing the gap in resolution regime so that we have a more coherent approach.”

Senator Chuck Schumer (D-N.Y.) said, “We all believe people should be rewarded for good performance, that’s not the problem, but what we’ve seen in many instances that has enraged Americans is a heads-eye wind tail you lose system. In which executives are rewarded for flashing the pan short term gains, or even worse, rewarded richly when the company does poorly and the shareholders have been hammered.”

Obama Administration Needs To Work With Latin America

By Kayleigh Harvey - Talk Radio News Service

Sergio Bendixen, President of Bendixen and Associates; Dr Cynthia McClintock, Professor of political science and international affairs, and director of the Latin America and Hemispheric Studies Program at George Washington University, Eric Farnsworth, Vice-president of the Council of Americas and Ray Walser, senior policy analyst for Latin America in The Heritage Foundation's Douglas and Sarah Allison Center for Foreign Policy studies, gave testimonies today before the Subcommittee on the Western Hemisphere.

The witnesses created a lot of attention, with people lining up outside to hear the testimonies on "U.S. Policy Toward Latin America in 2009 and Beyond".

Congressman Gregory Meeks (D-NY), said: "You can tell by the way the room is filled today the interest in the Western Hemisphere".

Subcommittee Chairman Eliot Engel (D-NY) opened the hearing by welcoming Congressman Connie Mack (R-FL) as the committee's new Ranking Member and then outlined some positive steps he would like the Obama administration to pursue.

"First and foremost, I believe that President Obama's participation in April's Summit of the Americas in Trinidad and Tobago would send an extremely positive message to the heads of the state from Latin America, to the Caribbean. Second, as Chairman Berman moves forward with foreign aid reform and the Obama administration prepares its FY 2010 budget, it is essential that we increase funding for countries in the Western Hemisphere...Third, cooperation between the US and Brazil significantly expanded during the Bush Administration. This relationship needs to be further deepened under President Obama...Fourth, we must continue to support our friends in Mexico through the Merida Initiative...Fifth, I would urge President Obama to focus on Ecuador and Paraguay...and sixth, we must continue to support disaster recovery efforts in Haiti", Engel said.

Chairman Engel then went on to discuss the attacks in a synagogue in Caracus, Venezuela.

"On Monday, I sent a letter, along with 19 of my colleagues, to President Chavez urging him to end the bullying and harassment of the Jewish community in Venezuela and to extend the community the robust protection it deserves in light of the threats it faces. The Venezuelan government must quickly change its tune with regard to the country's Jewish community".

Dr McClintock said: "In Lationobarometer surveys between 2000 and 2005, approval ratings of the United States fell by more than 20 points in Ecuador, Chile, Brazil and Bolivia; more than 30 points in Mexico and Uruguay; and more than 40 points in Argentina, Paraguay, and Venezuela".

Ray Walser commented on America's dependence on the oil industry, with Congressman Ron Klein (D-FL) backing up his argument and stated that America needs to stop "buying oil from a country {Venezuela} that is hostile to our interests".

The committee also discussed the American economy and its ability to assist Latin American countries. Sergio Bendixen said: "We need to be realistic. Not only about what our friends want but what Latin America wants...we have economic limitations".

Other issues the committee discussed were the desires from the Obama administration, the April 2009 summit of the Americas in Trinidad and Tobago, human rights in Cuba, immigration, drugs control and free trade.

Eric Farnsworth suggested in his testimony that Brazil and Mexico should be allowed to join the G8. "Listening to Latin America is important...the rest of the hemisphere also has good ideas".

Chairman Engel said: "We cannot ignore our own backyard".

The committee hearing ended after 120 minutes as Congress was called to vote.