4:00 PM Eastern
Good Thursday Afternoon -
The Senate has just passed the cloture vote on the Financial Takeover Bill in the Senate with a 60-40 vote. 3 Republicans voted with 57 Democrats. The Republicans were Scott Brown, Olympia Snowe and Susan Collins. A final vote could come as soon as tonight, but will likely be tomorrow.
On the heels of this vote, Durbin and Dodd admit that Fannie and Freddie are to blame. Robert Romano of Americans for Limited Government writes, "Yesterday, after the Dodd financial takeover bill failed to achieve the 60 votes necessary to end debate, Senator Dick Durbin appeared on the floor to impugn the motives of Republicans. 'It's not surprising that the Republicans are reluctant to be a part of Wall Street reform… We're trying to change the way Wall Street does business so we never have to face a recession like this again. The Republicans in the Senate, with only a few exceptions, have resisted our efforts to pass this bill.'"
The SEIU has stormed the house of a Bank of America exec and terrorized their family, according to a post on BigGovernment.com.
Jobless claims rise today. This is the largest rise in 3 months.
Obama's head regulator advocates imposing an internet Fairness Doctrine. Cass Sunstein said in a 2001 radio interview that he believes that political websites should advocate both sides of the spectrum.
Pennsylvania Attorney General Tom Corbett has subpoenaed Twitter in connection with some critical tweets. Read the story here.
Time Magazine writes that Jim DeMint has moved the Republican brand to the right. According to Jay Newton-Small, "Senator Jim DeMint knows when a brand's gone bad and what to do to fix it. The South Carolina Republican spent more than 25 years in advertising before going into politics, and his demeanor — from the pin stripe suit to his salesman pitch delivered with a smile — has a Mad Men quality to it, almost as if Don Draper had been thrown forward 50 years and his only client was the Tea Party movement."
Brian Doherty wonders if a single Senate candidate can the savior of the small-government movement at Reason.com.
The cavalry has arrived to defend Richard Blumenthal over what he claims has been statements taken out of context in reference to his service in Vietnam. According to the Daily Caller: "n the full video Blumenthal never attempted to clearly state he was not in Vietnam and most casual listeners likely heard him say he served 'during the Vietnam era' and later explicitly state he had been to the country. To say this constitutes Blumenthal 'accurately describing his service' seems to be bending over backwards to put this scandal in a less negative light for the beleaguered Senate hopeful."
World stocks tumble as debt woes mount. The European Debt crisis is being cited as the main fear causing stocks to fall dramatically.