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Good Morning San Antonio 4:30a

The KSAT 12 News Team provides a look at local, regional, statewide and national news events and the latest information on local traffic and weather issues.

A dense fog advisory and a special weather statement in effect for 25 regions in the area

See the complete list

LIVE

Good Morning San Antonio 4:30a

A dense fog advisory and a special weather statement in effect for 25 regions in the area

SHERROD BROWN


These 4 senators are the most likely to lose their seats in 2024

A top non-partisan political handicapper predicts Democrats face a serious challenge holding on to four crucial Senate seats as they attempt to protect their razor-thin majority in 2024

foxnews.com

Early jockeying for Senate seats foreshadows competitive 2024 elections

Lawmakers are already setting their sights on 34 Senate seats that will open up in 2024, indicating a busy election season.

npr.org

'Retire or get fired': Senate GOP campaign committee targets Manchin, red-state Democrats with ad campaign

The Senate GOPโ€™s campaign committee is targeting Joe Manchin and two other Democratic senators from red-leaning states that likely face very challenging reelections in 2024

foxnews.com

A wave of declarations across the U.S. is condemning racism as a public health crisis

Over 200 cities, counties and leaders across the country have declared racism a public health crisis. According to experts, decades of systemic racism continue to negatively impact the overall health of people of color.

news.yahoo.com

Washington Needs a Crypto Rethink

The spectacular demise of Sam Bankman-Fried and his trading platform should change the debate about the regulation of digital assets.

newyorker.com

Ohio Republican takes steps to launch Senate challenge against vulnerable Democrat Sherrod Brown in 2024

Ohio Republican Matt Dolan is taking concrete steps that could set him up for a second straight run for the Senate when Democratic Sen. Sherrod Brown is up for reelection in 2024.

foxnews.com

Lawmakers grapple with sheer size of FTXโ€™s missing billions

After Sam Bankman-Fried was charged with multiple financial crimes, the Senate Banking Committee considered proposals for tighter industry regulation.

washingtonpost.com

Former FTX CEO Sam Bankman-Fried declines to testify before Senate or accept service of subpoena, committee says

FTX CEO Sam Bankman-Fried refused to testify at a Wednesday hearing in front of the Senate Banking Committee.

cnbc.com

Senate Banking Chairman Brown to introduce bill closing 'shadow' banking loophole after Elon Musk says Twitter will process payments

Sen. Sherrod Brown, D-Ohio, presented a bill Tuesday that aims to level the playing field between traditional banks and large companies practicing banking.

cnbc.com

Sen. Sherrod Brown calls on Treasury Secretary Janet Yellen to help rein in cryptocurrency firms after FTX collapse

Sen. Sherrod Brown, chair of the Senate Banking, Housing and Urban Affairs Committee, urged Treasury Secretary Janet Yellen's help after the FTX collapse.

cnbc.com

Democratic senators urge regulators to monitor SoFi trading activity, expressing concern during crypto meltdown

A SoFi spokesperson said the company believes it has "been fully compliant with the mandates of our bank license and all applicable laws."

cnbc.com

After FTX meltdown, Congress starts to ask: Did it neglect crypto?

The stunning collapse of the worldโ€™s third-largest exchange has forced lawmakers to reckon with the costs of legislative inaction.

washingtonpost.com

Senate Banking Committee Chair Brown scrutinizes banking fees as consumers struggle with inflation

Witnesses highlighted oversight agency's activities to ensure fair banking standards for American consumers.

cnbc.com

More Democrats criticize Fed rate hikes

Sens. Sherrod Brown (D-Ohio) and John Hickenlooper (D-Colo.) raised concerns that the Fedโ€™s inflation fight will have other consequences for the job market and broader economy.

washingtonpost.com

Biden zeroes in on economic message as campaign winds down

President Joe Biden is focusing on economic issues as he fine-tunes his closing argument in upstate New York for voters trying to cope with raging inflation and fears of a recession heading into the Nov. 8 election.

Powell again is facing political pressure as worries mount over the economy

No stranger already to political pressure, the Fed chief this week found himself the focus of concern from Sen. Sherrod Brown.

cnbc.com

Ohio Dems press party to invest in high stakes Senate seat

Democrats across Ohio are pleading for help in the stateโ€™s high-stakes Senate contest.

Honda, LG to build $3.5B battery plant, hire 2,200 in Ohio

Honda says it will build a $3.5 billion joint-venture battery factory in rural southern Ohio and hire 2,200 people to staff it as it starts to turn the state into its North American electric vehicle hub.

Big bank CEOs face 2nd day of questioning from lawmakers

The CEOs of the nationโ€™s biggest banks were in for a second day of tough questioning from lawmakers Thursday, as Americans face inflation not seen since the early 1980s and a midterm election is only weeks away.

As 'buy now, pay later' plans grow, so do delinquencies

A growing number of American shoppers have jumped at the chance to use โ€œbuy now, pay laterโ€ loans to pay for new sneakers, electronics, or luxury goods in installments.

Biden touts legislative record as midterms approach

The news is filled with stories about investigations into former President Donald Trump and the fallout over the Supreme Court's ruling on abortion.

Rejected by courts, retirees take last shot to save pensions

When General Motors went through the biggest industrial bankruptcy proceedings in history, 20,000 retirees from GM's Delphi Corp. subsidiary saw their retirement savings slashed.

Fed ethics inquiry clears Powell and Clarida trades

The Federal Reserveโ€™s inspector general concluded that financial trades made several years ago by Chair Jerome Powell and Richard Clarida, then the vice chair, did not violate any laws or ethics rules.

US solar companies weigh challenge to Biden pause on tariffs

U.S. solar manufacturers are considering legal challenges after President Joe Biden declared a two-year pause on tariffs for solar imports from Southeast Asia.

Crypto comes to Washington. Will the millions buy influence?

Cryptocurrency tycoons are emerging as new power players in American politics.

Yellen trip to Capitol detours into tense abortion debate

Treasury Secretary Janet Yellenโ€™s appearance before a Senate committee took an unexpected and tense detour into the abortion debate Tuesday when senators questioned her about the potential impact of an abortion ban on the American economy.

'Pass the damn bill': Biden demands chips legislation to counter China tech rise

President Biden urged Congress to make swift work on the Bipartisan Innovation Act, a multibillion dollar investment in the U.S. semiconductor industry.

cnbc.com

Bill to improve federal benefits for the elderly, blind and disabled may herald broader reform, Sen. Sherrod Brown says

A bipartisan bill to raise asset limits for SSI beneficiaries could be the first step in updating the outdated federal benefits program, Sen. Sherrod Brown said.

cnbc.com

Election 2022: JD Vance wins Ohio's GOP Senate primary

โ€œHillbilly Elegyโ€ author JD Vance has won Ohioโ€™s contentious and hyper-competitive GOP Senate primary, buoyed by Donald Trumpโ€™s endorsement in a race widely seen as an early test of the former presidentโ€™s hold on his party.

Bipartisan bill aims to update rules for federal benefits for elderly, disabled

Supplemental Security Income benefits for the disabled, blind and elderly have strict asset limits. Now, two senators want to raise those caps.

cnbc.com

2022 midterms: What to know about Ohio, Indiana primaries

The first multistate contest of the 2022 midterm election season takes place Tuesday.

Lindsey Graham complained to a Capitol Police officer that they 'let people breach the Capitol' while they tried to outline an evacuation plan on January 6, book says

"Shut up, Lindsey!" Sen. Sherrod Brown replied, while another person chided Graham, telling him there were "no cameras" in the room.

news.yahoo.com

Ohio Democrats make play for women's vote in governor's race

Democrats selecting their nominee for governor in Ohio have a choice between a two-woman ticket and a man-led ticket endorsed by feminist icon Gloria Steinem.

Biden picks Michael Barr for Fed's bank regulation post

President Joe Biden says he plans to nominate Michael Barr to be the Federal Reserveโ€™s vice chairman of supervision.

Fed casting its inflation fight as battle against inequality

As the Federal Reserve intensifies its efforts to tame high inflation, its top officials are casting their aggressive drive in a new light: As a blow against economic inequality.

Senate advances controversial Fed nominee on party-line vote

The Senate on Tuesday agreed to consider the nomination of Lisa Cook for a position on the Federal Reserveโ€™s Board of Governors on a 50-49 party-line vote.

Powell and 3 other nominees to Fed posts clear Senate panel

The Senate Banking Committee has approved Jerome Powellโ€™s nomination to a second four-year term as chair of the Federal Reserve.

Raskin nomination for Fed in peril as Democrat opposes pick

Sen. Joe Manchin says he opposes the nomination of Sarah Bloom Raskin to a key position on the Federal Reserveโ€™s Board of Governors.

GOP Fed blockade has Democrats worried about other nominations, including the Supreme Court

Dems are nervous that Fed blockade could expand to other nominees, possibly including SCOTUS.

washingtonpost.com

Investors bought a record share of homes in 2021. See where.

An analysis of 40 major metro areas revealed unequal levels of investor activity, with southern cities and Black neighborhoods disproportionately affected

washingtonpost.com

Senate Republicans boycott committee vote on Biden's Federal Reserve nominees

Republicans on the Senate Banking Committee skipped Tuesday's meeting, denying Democrats the quorum needed to advance Biden nominees.

cbsnews.com

Vote on Biden Fed picks delayed as GOP presses for answers on Raskin's ties to firm

Chairman Sherrod Brown (D-OH) questions Treasury Secretary Janet Yellen and Federal Reserve Chairman Powell during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act, at the Hart Senate Office Building in Washington, DC, September 28, 2021. Sen. Sherrod Brown, the chairman of the Senate Banking Committee, said Tuesday afternoon that the committee will delay its votes on five of President Joe Biden's nominees to the Federal Reserve. This is breaking news. Please check back for updates.

cnbc.com

Senate GOP delays votes on Raskin and 4 other Fed nominees

Republican members of the Senate Banking Committee boycotted a vote on President Joe Bidenโ€™s five nominees to the Federal Reserve, delaying indefinitely the confirmation of Chair Jerome Powell to a second four-year term.

GOP moves to block vote on Biden Fed nominees over Raskin ties to fintech firm

Senate Republicans intensified their fight against one of President Joe Biden's nominees to the Fed when they threatened to boycott a committee vote.

cnbc.com

Climate change a rising Fed concern as nominees face hearing

How far the Federal Reserve can go to compel banks to consider the consequences of climate change in their lending policies could take center stage at a Senate hearing Thursday on the nominations of Sarah Bloom Raskin and two economists to the Fedโ€™s influential Board of Governors.

Socialist reign at stake in Portugal election

The prospect of another weakย minority government comes as Portugal is trying to boost its tourism-dependent economy which has been badly hit by the coronavirus pandemic

news.yahoo.com

Ryan, not onstage, takes central focus at Ohio Senate event

Democrat Tim Ryan wasnโ€™t onstage when two of his competitors in Ohioโ€™s U.S. Senate contest came together Thursday night for an unconventional debate, but his stature in the race featured prominently.

Federal Reserve's Powell: High inflation 'exacts a toll'

High inflation is taking a toll on American families.

Fed's Powell: High inflation poses a threat to job market

Federal Reserve Chair Jerome Powell said Tuesday that high inflation is a serious threat to the Fedโ€™s goal of helping put more Americans back to work, and said the Fed will raise rates more than it now plans if needed to stem surging prices.

Over $7.7 billion stolen in crypto scams in 2021 and 4 other updates you should know

Here are five important things that happened in the crypto space last week.

cnbc.com

Democrats face a frustrating end to a stormy year, with no guarantee of smoother sailing ahead

The year appeared poised to end on an especially ignominious note for Democrats Friday, with Manchin upending Democratsโ€™ domestic policy plans and Sinema standing in the way of rules changes needed to pass voting rights legislation.

washingtonpost.com

Time is no ally as Dems strain to finish Biden's $2T bill

Democrats are hoping that Congress is nearing the finish line in its seven-month trek on President Joe Bidenโ€™s $2 trillion social and environment package.

Elizabeth Warren ally Richard Cordray under discussion for Fed bank supervisor role, key senator says

Sen. Sherrod Brown told CNBC that he's spoken to the Biden administration about Cordray possibly serving as the Fed's vice chair for supervision.

cnbc.com

Biden's political standing fuels Democratic worry about 2024

Some Democrats have begun saying out loud what others are saying privately โ€” that Joe Bidenโ€™s political standing is so weak less than a year into his presidency that he may not be able to win reelection in 2024 if he were to run again.

Pharmaceutical industry likely to shatter its lobbying record as it works to shape Democratsโ€™ spending bill

Years-long battle over prescription drug prices reaches apex as industry spends tens of millions to alter plan.

washingtonpost.com

Stock buybacks surge to likely record highs, but a tax from Congress poses a threat

Companies are buying back their shares at a near-record pace as lawmakers weigh a new tax.

cnbc.com

Biden's pick to run a key bank regulator runs into Democratic resistance in the Senate

Senate Democrats are fractured over whether to support Saule Omarova, Biden's indicated choice to lead the Office of the Comptroller of the Currency.

cnbc.com

McConnell seizes on debt standoff to undermine Biden agenda

During the recent standoff over the nation's debt limit, Senate Republican leader Mitch McConnell showed just how far he'll go to stop President Joe Bidenโ€™s agenda.

What a tax on stock buybacks would, and wouldn't, mean for the bull market

A 2% tax on stock buybacks is among corporate tax proposals to pay for President Biden's spending plan. Would it slow or stop share repurchases?

cnbc.com

Senate confirms Biden pick to lead consumer watchdog agency

The Senate has narrowly approved President Joe Bidenโ€™s pick to run the Consumer Financial Protection Bureau, giving the bureau a director who is likely to embrace an aggressive โ€œwatchdogโ€ role.

A potential Powell renomination for Fed faces some dissent

Resistance to the potential renomination of Federal Reserve Chair Jerome Powell intensified this week, with Sen. Elizabeth Warren becoming the first senator to publicly oppose Powell and many progressive groups pushing for some alternative leader at the Fed.

Bernie Sanders just urged progressives to tank the Biden infrastructure bill if Pelosi brings it up for a vote in two days

Sanders is now the strongest progressive voice urging a no vote. Sen. Elizabeth Warren echoed his comments to reporters: "We had a deal."

news.yahoo.com

Supplemental Security Income benefits haven't changed in years. Now there's a push in Congress to alter that

About 8 million people collect monthly checks for the aged, blind and disabled. But those benefits haven't been updated in years. Congress could change that.

cnbc.com

Democrats consider new taxes aimed at CEO pay, stock buybacks for $3.5 trillion budget plan

Congressional Democrats are weighing a raft of taxes that would target CEO pay and big U.S. companies that buy back shares.

cnbc.com

AOC, Tlaib and Pressley urge Biden to replace Fed chair Jerome Powell

Reps. Alexandria Ocasio-Cortez (D-N.Y.), Rashida Tlaib (D-Mich.) and Ayanna Pressley (D-Mass.) are calling on President Biden to replace Federal Reserve Chair Jerome Powell with someone more focused on "eliminating climate risk and advancing racial and economic justice," according to a joint statement reported by Politico.Driving the news: Powell's term will end in early 2022, though some economists have said Biden will likely reappoint him.Stay on top of the latest market trends and economic in

news.yahoo.com

Where the push to bring Supplemental Security Income benefits up to federal poverty level stands

Some Supplemental Security Income benefits have not been updated in years. Why thereโ€™s a push to include program reforms in the budget package on Capitol Hill.

cnbc.com

Frustration as Biden, Congress allow eviction ban to expire

Millions of Americans face being forced from their homes with the midnight Saturday expiration of a moratorium on evictions during the pandemic.

Evictions looming, Biden fails to get Congress to extend ban

A national eviction moratorium is set to expire after President Joe Biden and Congress failed to extend it.

Bill Hwang nonprofit saw assets soar by over $100 million 2 years before trades from his office led to market selloff

Bill Hwang's nonprofit saw its assets jump by over $100 million just two years prior his office set off a market meltdown.

cnbc.com

Biden to allow eviction moratorium to expire Saturday

The Biden administration will allow a nationwide ban on evictions to expire Saturday.

Senate Banking Committee presses crypto experts on systemic risk at hearing

Lawmakers appeared unconvinced cryptocurrencies would make a good solution to the existing and very flawed financial system.

cnbc.com

Senators, White House in talks to finish infrastructure bill

Senators and the White House are locked in intense negotiations to salvage a bipartisan infrastructure deal.

Senators race to overcome final snags in infrastructure deal

Lawmakers racing to seal a bipartisan infrastructure deal early this coming week are hitting a major roadblock over how much money should go to public transit.

Groups worry about tapping COVID relief for infrastructure

Organizations representing long-term care facilities are urging lawmakers working on a bipartisan infrastructure plan to avoid dipping into COVID-relief funds to help pay for the roughly $600 billion in new spending sought for the public works buildout.

Democrats Want to Reform This Program That Helps Poor Elderly and Disabled Americans

โ€‹โ€‹President Joe Biden invoked Franklin Delano Roosevelt several times as he has implemented sweeping anti-poverty measures to tackle record unemployment and economic turmoil. Hoping to model his legacy on the President who helped the nation climb out of the Great Depression, Biden has spent $1.9 trillion so far on stimulus checks, the expanded child tax credit, and enhanced unemployment insurance, among other relief measures. โ€œDisabled people and the poorest of the poor havenโ€™t had really any help in years,โ€ says Democratic Sen. Sherrod Brown of Ohio.

news.yahoo.com

Biden's 3rd trip to reddish Ohio pushes his economic agenda

President Joe Biden just canโ€™t quit Ohio โ€” even if it rejected him in last yearโ€™s election.

AOC says Republicans have been 'killing time for months' as infrastructure talks stretch on with no end in sight

Many Democrats are wary about the GOP sucking up time on infrastructure, similar to what happened with the Obamacare talks a decade ago.

news.yahoo.com

Democrats Set Political Tripwire for 2024: Payments to Parents

Photo Illustration by The Daily Beast / Photos GettyDemocrats think the newly created Child Tax Credit programโ€”which began sending out monthly benefit checks to tens of millions of families this weekโ€”could be the most impactful policy victory of the Joe Biden era.It could also be the key to keeping Congress and the White House in Democratic hands.As congressional Democrats craft another multi-trillion-dollar package to solidify their economic agenda, some lawmakers are trying to set up a lengthy

news.yahoo.com

As prices rise at rapid pace, Fed chief seeks patience

For anyone worried about surging prices for everything from food and gas to airplane tickets and clothes, Federal Reserve Chair Jerome Powellโ€™s message in two days of congressional hearings this week was straightforward: Just give it more time, and those price gains should slow, or even reverse.

Fed Chair Powell grilled by grouchy senators over inflation and climate change, even as economy rebounds

An economic rebound, rising wages and declining unemployment weren't enough to spare Fed Chairman Jerome Powell from gripes in the Senate.

cnbc.com

The government is sending up to $300 monthly checks to families with kids starting today. Democrats want to make it permanent as a new form of Social Security.

The Biden stimulus benefit is the US's inaugural version of guaranteed income geared to children. Millions could get direct payments every month.

news.yahoo.com

'This is what I saw in the Capitol.' Sen. Sherrod Brown posts Jan. 6 photos for first time

The photos showed a shattered glass table, overturned furniture and debris strewn across an office floor.

news.yahoo.com

Sen. Sherrod Brown: Ohio GOP should be 'ashamed of themselves' for election bill

Brown said proposed changes to Ohio's election laws and voting rights are a knee-jerk reaction to Donald Trump's "abject lie" about the 2020 election.

news.yahoo.com

Biden objects to raising gas tax to pay for infrastructure

The White House is making clear that President Joe Biden is opposed to letting the federal gasoline tax rise at the rate of inflation to help pay for an infrastructure package that a bipartisan group of 21 senators is trying to craft.

Most Democrats want to permanently send $300 monthly checks to families, but some centrist senators may push big cuts in Biden's infrastructure plan

The Biden stimulus benefit has deep Democratic support, but Senate moderates could slash the expanded child tax credit. Manchin hasn't weighed in.

news.yahoo.com

US lawmakers want Ma'Khia Bryant foster care journey probed

Three Democratic members of Congress are asking the U.S. Department of Health and Human Services to investigate the foster care experience of Ma'Khia Bryant that preceded the 16-year-old's fatal police shooting in Ohio. U.S. Rep. Joyce Beatty and U.S. Sen. Sherrod Brown of Ohio, along with U.S. Sen. Ron Wyden of Oregon, penned a letter last week on behalf of Bryant's parents, asking the federal agency to look into the teen's experience through the foster care system.

news.yahoo.com

Why Democrats Are Angry At Wall Street

Big banks are facing a new reality in Washington: Democrats control all levers of power and they are not shy about their intentions to ratchet up the pressure on the sector.

npr.org

Big Bank CEOs Field Questions From Congress On Wall Street Practices

The industry was blamed for the Great Recession and has spent most of the past year trying to appear more helpful to struggling borrowers.

newsy.com

Bank CEOs outline pandemic support; senators split on issues

The CEOs of the six biggest U.S. banks have appeared before Congress, eager to lay out their support for struggling consumers and small businesses.

Republicans vie for Trump's blessing in Ohio Senate primary

One Ohio U.S. Senate candidate has been circulating a whoโ€™s-done-more-for-Donald Trump scorecard.

Key piece of Biden's $1.8T families plan expires after 2025

President Joe Biden couldnโ€™t get everything he wanted into his own $1.8 trillion families plan.

Biden to propose free preschool, as speech details emerge

President Joe Biden will call for free preschool for all three- and four-year-old children as part of his American Families Plan.

Senators to Biden: Waive vaccine intellectual property rules

Ten liberal senators are urging President Joe Biden to back India and South Africaโ€™s appeal to the World Trade Organization to temporarily relax intellectual property rules so coronavirus vaccines can be manufactured by nations that are struggling to inoculate their populations.

Senate OKs tough former regulator as market watchdog chief

The Senate has approved President Joe Bidenโ€™s choice to lead a key agency overseeing Wall Street.

Fed to end relaxed capital requirements for large banks

The Federal Reserve says it will restore capital requirements for large banks that were relaxed as part of the Feds efforts to shore up the financial system during the early days of the pandemic. (AP Photo/Susan Walsh, Pool)WASHINGTON โ€“ The Federal Reserve says it will restore capital requirements for large banks that were relaxed as part of the Fedโ€™s efforts to shore up the financial system during the early days of the pandemic. But the SLR, unlike other bank capital requirements, doesn't take risk into account. Bank lobbyists argue that without an extension of the exemption, large banks will be less likely to hold Treasury securities. โ€œWe are also confident that the thousands of community banks that are not subject to the SLR requirements would be happy to accept deposits that large banks may reject,โ€ they said.

'We can do big things,' Schumer says as Senate approves aid

Senate Majority Leader Chuck Schumer, D-N.Y., leaves the chamber just after the Senate narrowly approved a $1.9 trillion COVID-19 relief bill, at the Capitol in Washington, Saturday, March 6, 2021. Senate passage sets up final congressional approval by the House next week so lawmakers can send it to President Joe Biden for his signature. Adโ€œLessons learned: If we have unity, we can do big things,โ€ Schumer told The Associated Press in an interview after the vote. The outcome โ€œgives us optimism about doing more big things in the future โ€” because it worked,โ€ he said. He and Schumer spoke often as the Senate leader steered the pandemic aid to approval.

GOP's Josh Mandel joins race for open Senate seat in Ohio

FILEIn this file photo from Oct. 6, 2020, Jane Timken, the Chairwoman of the Ohio Republican Party, speaks at the Hamilton County Board of Elections during early voting in Norwood, Ohio. (AP Photo/Aaron Doster, File)COLUMBUS, Ohio โ€“ Republican Josh Mandel, a Marine veteran and former state treasurer, says he will make a third run for the U.S. Senate in Ohio, taking a pro-Trump message in a bid for the seat being vacated by the GOPโ€™s Rob Portman. AdMandel abruptly abandoned his last Senate campaign in January 2018, citing unspecified health issues being experienced by his then-wife, Ilana. He personally backed her takeover of the state party four years ago from a state chair allied with then-Gov. He has about $4.3 million remaining in his Senate campaign account, and about $500,000 in a leadership PAC.

In Ohio, open Senate seat sparks debate on gender, diversity

An open Senate seat in Ohio has set off a round of jockeying among ambitious Democrats and a spirited debate over who is best poised to lead a party comeback in a one-time battleground that has been trending Republican. While Acton and Ryan are believed to be the furthest along in their deliberations, several politicians who are Black are also eyeing the seat. The group is working to recruit a Black candidate for the Senate seat, he said. AdStill, Ryan got a boost Saturday when Hillary Clinton, the partyโ€™s 2016 presidential nominee, declared on Twitter that she was โ€œall inโ€ for a Ryan Senate candidacy. For some Ohio Democrats the cautionary tale is 2018, when a group of female gubernatorial candidates all ceded their ambitions to former Obama administration consumer chief Richard Cordray, who lost the race.

GameStop saga makes Wall Street an issue for Biden team

The SEC took a deregulatory tilt under chair Jay Clayton, a former Wall Street lawyer appointed by President Donald Trump. The populist strain recalls the anger fueling the Occupy Wall Street movement over the big bank bailouts that Congress brought in response to the financial crisis. At least two of them have closed out January's trading with losses of more than 40%, according to reports by The Wall Street Journal and Bloomberg News. Politicians and critics said Robinhood changed the rules of the road midway through, in favor of Wall Street firms who were still able to trade these shares. Wall Street brokerages, big banks and other financial companies were already expecting the Biden administration to be tougher on them than the Trump regime.

GOP's Rep. Jim Jordan won't seek Portman's US Senate seat

Rob Portman, R-Ohio, speaks to members of the media outside a Senate Finance Committee hearing on Capitol Hill in Washington. Portman said Monday, Jan. 25 that he won't seek reelection and plans to end a career in federal government spanning more than three decades. (AP Photo/Andrew Harnik, File)CINCINNATI โ€“ Republican U.S. Rep. Jim Jordan, a fiery Donald Trump supporter, won't run to succeed Ohio Sen. The former star college wrestler's style doesn't reflect that of Portman, a career establishment Republican with a reputation for bipartisanship. AdTrump rewarded Jordan, 56, for his steady support by giving him the Presidential Medal of Freedom before leaving office this month.

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