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Member since: Tue Nov 9, 2004, 04:15 PM
Number of posts: 30,391

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Mnuchin to Put $455 Billion in Funds Out of Yellen's Easy Reach

Source: Bloomberg

Treasury Secretary Steven Mnuchin will put $455 billion in unspent Cares Act funding into an account that his presumed successor, former Federal Reserve Chair Janet Yellen, will need authorization from Congress to use.

Mnuchin plans to place the money into the agency’s General Fund, a Treasury Department spokesperson said Tuesday. That fund can only be tapped with “authority based on congressionally issued legislation,” according to the Treasury’s website.

The money includes $429 billion that Mnuchin is clawing back from the Federal Reserve -- which backed some of the central bank’s emergency lending facilities -- and $26 billion that Treasury received for direct loans to companies. Both initiatives were created under the sweeping Cares Act that was passed earlier this year as the coronavirus pandemic inflicted economic pain on the U.S.

The move will leave Yellen -- selected by president-elect Joe Biden as his nominee for Treasury secretary -- with just under $80 billion available in the Treasury’s Exchange Stabilization Fund, a pot of money that can be used with some discretion by the Treasury chief.

Read more: https://www.bloomberg.com/news/articles/2020-11-24/mnuchin-to-put-455-billion-in-funds-out-of-yellen-s-easy-reach?sref=KhY5gfAd

Remember when Trump said "If he is elected, the stock market will crash"


Dow jumps 300 points on vaccine hope, hits high of day on news Yellen may be Biden’s Treasury pick


The Dow hit its session high in the final hour of trading amid news that President-elect Joe Biden plans to nominate former Federal Reserve Chair Janet Yellen for Treasury secretary. The Wall Street Journal first reported the pick. CNBC later confirmed the report through sources.

Secret Service members asked about protecting soon-to-be-former president Trump full time in Florida

Source: ABC News

As states begin to certify election results that seal a victory for President-elect Joe Biden, even though Donald Trump hasn't conceded there is one clear sign his post-presidency life is taking shape: Secret Service agents in the president's detail are being asked whether they're interested in transferring to Palm Beach, Florida, sources have told ABC News.

The Secret Service's Miami field office also has begun looking at physical reinforcements to Mar-a-Largo, the president's golf club to which he refers as "the winter White House," the sources added. These moves are considered unofficial as Trump has yet to concede to Biden.

Trump, a longtime New Yorker born in the borough of Queens, changed his residency to Florida last year and voted there via absentee ballot earlier this month.


Renovations to living quarters expected to be occupied by Trump and first lady Melania Trump are underway, ahead of when they'll be living there full time after the Jan. 20 inauguration, sources familiar with the planning told ABC News.

Read more: https://abcnews.go.com/Politics/secret-service-members-asked-protecting-president-trump-full/story?id=74364989

NBC News: Trump concerned his team is comprised of "fools that are making him look bad"


Behind the scenes, Trump frustrated with his legal team's maneuvers


The president has been complaining to aides and allies about his personal attorney Rudy Giuliani and recently-removed lawyer Sidney Powell’s over-the-top performances at a news conference at the Republican National Committee headquarters last week, these people said. Both Giuliani and Powell have continued to make conspiratorial and baseless claims about widespread voter fraud, for which they have provided no evidence.

The president is concerned his team is comprised of “fools that are making him look bad,” said one source familiar with the thinking. Asked why he would not fire them, this person replied, in essence, who knows?


Trump was also not pleased with the optics of the brown substance, presumed to be hair dye or a makeup product, dripping down Giuliani’s face during the nearly two-hour news conference Thursday, according to one of the sources familiar with the president’s reaction.


Giuliani got his major role on the team “by default,” according to one ally, because he’s unabashed in his support for Trump and willing to say and do things other attorneys may not. Adding to that, the president’s first choice — longtime aide David Bossie — was sidelined from the effort when he was infected with the coronavirus earlier this month.

Black Detroit voters sue Donald Trump over attempt to nullify their votes

Source: MLive

The plaintiff has become the defendant, as a group of Black Detroiters and the Michigan Welfare Rights Organization have sued President Donald Trump over post-election efforts to nullify their votes.

The MWRO and Detroit voters Maureen Taylor, Nicole Hill and Teasha Jones are suing Trump and his campaign in U.S District Court for the District of Columbia for trying to disenfranchise voters in Detroit.

The plaintiffs are represented by NAACP Legal Defense and Educational Fund lawyers.

“Having unsuccessfully filed numerous unsuccessful lawsuits, defendants have now turned to a new strategy: Pressure state and local officials not to certify election results in key states and then have state legislatures override the will of the voters by installing President Trump’s slate of electors,” the plaintiffs argue.

Read more: https://www.mlive.com/politics/2020/11/black-detroit-voters-sue-donald-trump-over-attempt-to-nullify-their-votes.html?utm_medium=social&utm_campaign=mlive_sf&utm_source=twitter

New report details Trump effort to seize thousands of acres of private land for border wall

Source: CBS News

The Trump administration acquired at least 135 tracts of private land to build barriers along the U.S.-Mexico border and planned to seize a total of 5,275 acres to fulfill President Trump's campaign pledge, according to a government watchdog report obtained by CBS News.

A study by the Government Accountability Office (GAO), Congress' independent investigative arm, found that the Trump administration had secured the 135 sections of private land along the southern border as of July by reaching agreements with the owners or taking them to court and seizing their property. Officials planned to acquire another 991 tracts, most of them in south Texas, according to the report.

Between January 2017 and August 2020, the Justice Department filed 109 lawsuits against landowners to access their property or seize it permanently, GAO said. The owners of the 285 acres that the government has taken outright without an agreement have been offered between $1,440 and $870,261 per acre in compensation.

Trump administration lawyers were preparing to file another 100 lawsuits against landowners to permanently acquire their property along the southern border, according to the report.

Read more: https://www.cbsnews.com/news/trump-border-wall-private-land-seizure-plans-eminent-domain/?ftag=CNM-00-10aab7e&linkId=105237776

GM flips to California's side in pollution fight with Trump

Source: AP

DETROIT (AP) — General Motors says it will no longer support the Trump administration in legal efforts to end California’s right to set its own clean-air standards.

CEO Mary Barra said in an letter Monday to environmental groups that GM will pull out of the lawsuit, and it urges other automakers to do so.

She said the company agrees with President-elect Joe Biden’s plan to expand electric vehicle use. Last week, GM said it is testing a new battery chemistry that will bring electric-vehicle costs down to those of gas-powered vehicles within five years.

Barra sent the letter after a call with California Gov. Gavin Newsom, the company said.

Read more: https://apnews.com/article/joe-biden-lawsuits-environment-california-gavin-newsom-f30458eb13b6ff967d05b12c178621e8

Detroit had more vote errors in 2016 when Trump won Michigan by a narrow margin. He didn't object


GOP Sen. Rob Portman says Biden transition funds should be released

Source: Axios

Sen. Rob Portman (R-Ohio) wrote in an op-ed for The Cincinnati Enquirer that while he supports legal checks on the 2020 presidential election, the General Services Administration should provide the funds and infrastructure for a Biden transition to begin.

Why it matters: Portman was a co-chair of Trump's re-election campaign in Ohio and rarely steps out of line with party leadership. He wrote in the op-ed that "there is no evidence as of now of any widespread fraud or irregularities that would change the result in any state."

What he's saying: "Based on all the information currently available, neither the final lawful vote counts nor the recounts have led to a different outcome in any state. In other words, the initial determination showing Joe Biden with enough electoral votes to win has not changed," Portman wrote.

"I voted for President Trump ... But I also believe that there is no more sacred constitutional process in our great democracy than the orderly transfer of power after a presidential election. It is now time to expeditiously resolve any outstanding questions and move forward."

Read more: https://www.axios.com/rob-portman-trump-ohio-republcians-senate-3e114489-4744-42b6-95ce-9f89ae854d7f.html?utm_source=twitter&utm_medium=social&utm_campaign=organic&utm_content=1100

Biden builds out White House legislative affairs team

Source: Politico

President-elect Joe Biden announced two more staff hires on Monday for his White House's Office of Legislative Affairs.

Reema Dodin and Shuwanza Goff, two Capitol Hill veterans, will join the Biden administration’s legislative affairs team as deputy directors.

Dodin currently serves as deputy chief of staff and floor director for Sen. Dick Durbin (D-Ill.), the Senate Democratic whip. She is also working for the transition on a volunteer basis leading legislative strategy and engagement for the confirmation process.

Goff has worked for House Majority Leader Steny Hoyer in a number of positions, most recently as floor director for the House of Representatives. She was the first Black woman to hold that position, which allowed her to set the legislative schedule and determine which bills came to the House floor.

Read more: https://www.politico.com/news/2020/11/23/biden-white-house-legislative-affairs-439672
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