The cult behind the coup?
Yesterday’s Republican takeover of the New York State Senate was truly bizarre. Usually you can count on powerful social incentives to keep governing types from flouting basic standards of decorum
Golisano’s revenge
Golisano watches from back room as Republicans seize control of NYS Senate. (NYT) Supreme Court‘s Ginsburg issues order holding up Chrysler deal, casting uncertainty over restructuring. (FT) Shell pays $15.5
North Korea sentences US journalists to 12 years labor
North Korea sentences two journalists for Gore‘s Current TV to 12 years of labor. (FT) Treasury will expand oversight of executive compensation at bailed-out banks; program will be led by
Obama speaks from Cairo
From Cairo, Obama calls for “new beginning” in US-Middle East relations, outlines no peace plan. (FT) With banks unwilling to mark down holdings, FDIC cancels loan sell-off program. (NYT) FDA
Banks reap billions in wake of stress tests
Stress-tested TARP banks, including JP Morgan and Morgan Stanley, have raised $85 billion in last month by selling new stock. (WSJ) Sessions, top Republican on Senate Judiciary Committee, was once
GM workers left in lurch
Factory closings and layoffs a major part of GM restructuring; workers begin to learn their fate. (Reuters) Fed may announce as early as next week an initial set of banks
GM turns the page
GM files for bankruptcy. (Detroit Free Press) Abortion provider killed in Kansas; Holder directs federal marshals to “offer protection to other appropriate people and facilities around the nation.” (CNN) Carlyle
Auto adviser invested big in Chrysler owner
Obama auto adviser Rattner was investor in Cerberus, private equity firm with large stakes in GMAC and Chrysler. (NYT) Sotomayor‘s stance on abortion rights unclear. (NYT) Faced with federal insider-trading
Mixed but mainstream
In Wall Street-related and class action rulings, Sotomayor tends to side with corporate defendants, according to Journal; most positions are firmly in Democratic mainstream. (WSJ) California Supreme Court upholds gay
Obama picks Sotomayor
Sotomayor is Obama‘s pick for Supreme Court. (WaPo) Korea stages most powerful nuclear test yet; Rice says international community is united in opposing tests. (WSJ) Frank drafting bill to make