House Will Take Up Pakistan Resolution Today

The House today will debate H.Con.Res.301, a resolution introduced by Rep. Dennis Kucinich (D-Ohio) that directs the President, pursuant to section 5(c) of the War Powers Resolution, to remove the United States Armed Forces from Pakistan…

Langevin Becomes Speaker For A Day, Celebrates ADA Anniversary

Congressman Jim Langevin (D-R.I.) became the first Member in a wheelchair to preside over the House of Representatives Monday. House Speaker Nancy Pelosi said Langevin, who was paralyzed over 30 years ago, continues to set a great example for people all over the U.S. with diabilities.

“He is first because of his courage.  He is first because of his inspiration.  And he is first because when I became Speaker, he said to me: ‘Now that you are presiding, I want to preside too.’  So when that day — when we made history, having the first woman Speaker of the House, it became clear that we had to make history today in having Jim Langevin preside on this historic occasion,” said Speaker of the House Nancy Pelosi. 

Europe's Economic Recovery Dependent On Banks

Now that most European banks have passed their stress tests, they still face a stiffer challenge in the coming months, the ability to raise billions of dollars of long-term funding to finance new lending. 

Europe’s economic recovery may be at stake if banks are not able to pull off their long-term goal. Unlike the situation in the U.S., a large majority of companies in Europe depend on banks for their finances. Unless the banks can tempt investors in the bond markets, they won’t be able to make long-term loans to allow businesses to finance investment.

Closing Argument In Blago Trials Began Monday

The closing arguments in the federal corruption trial of former Illinois Gov. Rod Blagojevich began Monday. Blagojevich did not take the stand in Monday’s hearing but is expected to before the trial is over. The Illinois Democrat was removed from his office in January 2009 due to allegations that he attempted to sell the U.S. Senate seat that had previously been occupied by President Barack Obama.

Tony Hawyard's Next Post Might Be In Russia

BP’s CEO Tony Hayward might step down from his post in October. There have been rumors saying Hayward will be reassigned to BP’s joint venture in Russia. BP’s businesses in Russia are approximately the same size as the company’s venture in the U.S. and the position would still leave Hayward with plenty of say-so in the company. 

Managing Director Robert Dudley, current manager of cleanup efforts in the Gulf of Mexico, has been mentioned as a possible successor as BP’s new CEO.