Jesse Jackson Jr. Auction Brings In Few Bidders

Sep 17, 2013, 7:11 pm EST

Looking for an autographed photo of Bruce Lee from Fist of Fury? A framed and signed poster celebrating Michael Jackson’s induction into the Rock & Roll Hall of Fame? You might be in luck.

These are among the many items former Congressman Jesse Jackson Jr. illegally purchased with campaign funds that are being auctioned off online to help repay his debt.

The U.S. Marshals kicked off the auction today, in an attempt to earn back some of the $750,000 that Jackson Jr. illegally spent. Jackson Jr. was recently sentenced to 30 months in prison as a result, and ordered to pay that money back to the government. Read 

Firecracker Incident Locks Down White House

Sep 17, 2013, 1:39 pm EST

A man was arrested on Monday for throwing firecrackers at the White House soon after the shootings at the Washington Navy Yard.

The Daily Beast reports that a man that looked to be about 5’10 or 5’11 and in his late-30s threw the first firecracker over the White House fence before garnering the attention of Secret Service agents. The agents immediately rushed him as he lit the second firecracker and tossed it over the fence right before getting tackled by several agents.

Capitol Hill intern and eyewitness Clark Cashion said that the firecrackers didn’t cause a fire but they created a lot of smoke.  This incident follows the shootings at the Washington Navy Yard that alarmed the nation and left 13 dead. Cashion added that the whole situation is simply “crazy.” Read 

Washington Budget Battles Have a New Twist for Wall Street

Sep 17, 2013, 1:07 pm EST
Washington Budget Battles Have a New Twist for Wall Street

When it comes to fiscal debates in Washington, investors have become used to the playbook. Worries about the failure to reach a compromise lead to a stock market downturn in the weeks leading up to the relevant deadline, but eventually politicians save the day — and the markets — with an eleventh-hour deal.

The next set of deadlines is now approaching, but investors aren’t waiting around for the familiar storyline to play out before hitting the “buy” button. Instead, they’re ignoring the coming battles in Washington almost entirely, as evidenced by the nearly 4% rally in the S&P 500 in the past 12 sessions.

But is it wise to completely write off the potential for event risk in the coming weeks? Read 

Gun Control Advocates Gear Up for Possible Fight After D.C. Shooting

Sep 17, 2013, 10:19 am EST

Laying the groundwork with rhetoric by President Obama and U.S. Senator Diane Feinstein, the political debate over gun control began again after the D.C. shooting spree on Monday.

Sen. Feinstein said yesterday that “Congress must stop shirking its responsibility and resume a thoughtful debate on gun violence in this country. We must do more to stop this endless loss of life.”

President Obama used the words “yet again” in reference to the mass shooting. Read 

Obamacare Coverage Promises Lots of Homework

Sep 16, 2013, 10:19 am EST

It’s a combination 0f doing your taxes and doing your homework.

That’s how the Associated Press describes the process of applying for coverage under the Affordable Care Act — aka Obamacare coverage.

Open filing begins Oct. 1, pending some sort of surprise — and nearly impossible — measure by Republicans to block the Supreme Court-approved law from taking effect. Read 

Summers Withdraws From Fed Consideration

Sep 15, 2013, 6:33 pm EST

Just a couple of days after it looked like Larry Summers was in the driver’s seat for the Federal Reserve chairman’s position, the former U.S. Treasury Secretary has announced he is withdrawing from consideration for the Fed post.

Summers, who also served as an economic advisor to President Barack Obama, made the surprising announcement in a letter to Obama that was released today. In the letter, he cited a potentially rocky confirmation process as his reason for withdrawing.

“I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interest of the Federal Reserve, the administration or, ultimately, the interests of the nation’s ongoing economic recovery.” Read 

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