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Subject: US Congress

The United States Congress is the bicameral legislature of the federal government of the United States of America, consisting of the Senate and the House of Representatives. Both senators and representatives are chosen through direct election.

Each of the 435 members of the House of Representatives represents a district and serves a two-year term. House seats are apportioned among the states by population. The 100 Senators serve staggered six-year terms. Each state has two senators, regardless of population. Every two years, approximately one-third of the Senate is elected at a time. Reelection rates for incumbents often exceed 90%.

Article I of the Constitution vests all legislative power in the Congress. The House and Senate are equal partners in the legislative process (legislation cannot be enacted without the consent of both chambers); however, the Constitution grants each chamber some unique powers. The Senate is uniquely empowered to ratify treaties and to approve top presidential appointments. Revenue-raising bills must originate in the House of Representatives, which also has the sole power of impeachment, while the Senate has the sole power to try impeachment cases.

The Congress meets in the U.S. Capitol in Washington, D.C.

The term Congress is also used to refer to a particular meeting of the national legislature, reckoned according to the terms of representatives. Therefore, a “Congress” covers two years. The current 111th Congress convened on January 6, 2009.

[Wikipedia: 2009]

Phony financial reform

Dodd-Frank won’t make better markets

Financial markets can be extremely complex, with many areas that can fail and break.

Unfortunately, instead of a ‘game-changing’ confidence-inspiring reform, the Obama administration presented the United States with the Dodd-Frank Act — a legislative miscarriage that has the potential to hold back recovery and impair the position of New York as a world financial center for decades — unless repealed or drastically amended.

Healthcare Economics

How will doctors react to Obamacare?

Hospital Samaritano, a private sector hospital in Brazil.

Barack Obama failed to achieve his dream of nationalized healthcare for one simple reason.

He forgot that doctors and hospitals were still operating under the Free Enterprise system. His focus was entirely on health insurance, as if this were the only road to healthcare. Doctors and hospitals are still in the private sector.

They are still free to act — and react. And they will.

US politics

Obamacare: Loopholes and enforcement

If you boil a frog very slowly, he may not jump out in time to save himself.

Poorly written law can sometimes be successful when the vast majority of people agree with the intent and there is bipartisan support to correct errors.

This is not the case with the Patient Protection and Affordable Care Act of 2010.

However, the most astounding thing about Obamacare is that the individual mandate is basically a misnomer — there are no penalties on individuals for not buying health insurance. Or are there? ECRV2Y9MMZ86

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Featured articles on inside pages

Stock buybacks

Buybacks + options + hedge funds

Stock buyback programs are a legalized form of market manipulation, sanctioned under SEC Rule 10b-18 and that serve to drive up the price of a company's stock and to give false value to executive stock options.
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Securities Analysis

Innovative institutional research methods

The Crash of 2008 led to questions concerning the scope and quality of institutional investment research. The flood of open source investment data on the Internet presents opportunities to researchers.There are new ways to manage institutional research, including separation of fact-gathering from data analysis, out-sourcing, student-sourcing, and home-sourcing, financial taxonomy, and semantic wikis.
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US Politics

President Obama and the Lincoln Bible

The Crash of 2008 put Barack Obama in the Oval Office and was the culmination of two secular financial trends. Americans now have an untested, inexperienced leader, with strange radical friends and a leftist deficit spending agenda. More ...

US equities

Stock values and cash dividends wither

Wall Street ballyhoo and flim-flam to the contrary, the year 2005 closed-out half a decade of misery and pain for the average investor in US equities. Average cash dividend yields never surpassed 3.8% during the period, and most of this was consumed by taxes and management expenses of the open-end mutual funds. More ...

US Bonds

Bond demand exceeds supply for a decade

Over the decade, 1995-2004, the demand for US bonds of all types has surpassed new bond issues in eight of the last ten years. This is the reason that bond prices have held firm, even in 2003, when net new issues reached almost $1.8 trillion. More ...

World Economy

Working off the US trade deficit

Foreigners hold $16.8 trillion in US financial assets as a result of selling more goods to Americans than they buy from them. Since the 'deficit' is in dollars, the US has no problem in 'paying it off'. More ...

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2011-09-19 16:01