Chris Matthews
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New York, California set to lose House seats; Florida and Texas to gain after Census Bureau reveals 2020 counts

New York, California set to lose House seats; Florida and Texas to gain after Census Bureau reveals 2020 counts

The Census Bureau released the initial findings of its 2020 population count on Monday, and the data will lead to a recalculation of the number of seats in the U.S. House of Representatives apportioned to each state, which could upend the balance of power in Washington. California, Illinois, Michigan, New York, Ohio, Pennsylvania and West Virginia will all lose a congressional seat. Colorado, Florida, Montana, North Carolina, Oregon and Florida will gain one seat, while Texas will add two.The changes are smaller than many analysts had predicted. Consulting firm Election Data Services, for...

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Chris Matthews
Apr 26
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Sen. Warren: Robinhood ‘buried’ information on consumer rights in runup to GameStop saga

Sen. Warren: Robinhood ‘buried’ information on consumer rights in runup to GameStop saga

Sen. Elizabeth Warren denounced online broker Robinhood’s practices for disclosing its customer rights in a statement Wednesday, while calling on the Securities and Exchange Commission to ban the practice of requiring new customers to forfeit their right to sue their stock brokers in court. “Robinhood promised to democratize trading, but hid information about its prerogative to change the rules by cutting off trades without notice — and about customers’ inability to access the courts if they believe they’ve been cheated — behind dozens of pages of legalese,” the Massachusetts Democrat...

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Chris Matthews
Feb 17
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Here’s what to expect at the congressional hearings on GameStop and Robinhood

Here’s what to expect at the congressional hearings on GameStop and Robinhood

The House Financial Services Committee is set to grill several of the principal actors in the GameStop saga following public outcry against online trading platform Robinhood and other brokers’ decisions to briefly restrict trading in so-called meme stocks last month. Executives at Robinhood, market maker Citadel Securities, hedge fund Melvin Capital, social media firm Reddit, and Keith Gill, an independent investor who found fame and riches with his early purchases of GameStop Inc.shares, will all testify at the hearing, scheduled for . Here’s what to expect:The Players Robinhood: The...

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Chris Matthews
Feb 16
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DOJ drops California lawsuit, opening door for return of net neutrality

DOJ drops California lawsuit, opening door for return of net neutrality

The Department of Justice is withdrawing a lawsuit aimed at blocking California from establishing statewide net neutrality laws after the Federal Communications Commission repealed similar federal laws in 2018. The FCC’s repeal of net neutrality was controversial at the time, and opposed by Democrats on the commission, including Jessica Rosenworcel, the current acting head of the communications regulator.“I am pleased that the Department of Justice has withdrawn this lawsuit,” Rosenworcel said in a statement Monday. “When the FCC, over my objection, rolled back its net neutrality policies,...

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Chris Matthews
Feb 8
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Yellen meets with regulators over GameStop volatility, vows to protect investors

Yellen meets with regulators over GameStop volatility, vows to protect investors

Treasury Secretary Janet Yellen convened a meeting with the nation’s top regulators Thursday, who are continuing to review whether recent volatility in popular, so-called meme stocks, and brokers’ responses to it, “are consistent with investor protection and fair and efficient markets,” according to a Treasury Department statement. Yellen met with the heads of the Securities and Exchange Commission, Federal Reserve Board, Federal Reserve Bank of New York and Commodity Futures Trading Commission to discuss the functioning...Treasury Secretary Janet Yellen convened a meeting with the nation’s...

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Chris Matthews
Feb 4
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Democrats unveil broad antitrust bill that could upend tech sector

Democrats unveil broad antitrust bill that could upend tech sector

Senator Amy Klobuchar, the Chairwoman of the Senate Subcommittee on Antitrust, unveiled sweeping new legislation Thursday that could lead to the greatest expansion of federal power to maintain competition in a century. The Minnesota Democrat’s bill seeks to require the Justice Department and the Federal Trade Commission to block mergers that would create “monopsony” power, when a firm becomes an overly dominant employer or purchaser of goods and services in a particular market. Monopsonies are the inverse of monopolies, which are firms that are overly dominant sellers of goods and...

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Chris Matthews
Feb 4
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House Republicans block bill for $2,000 stimulus checks, defying Trump as government shutdown looms

House Republicans block bill for $2,000 stimulus checks, defying Trump as government shutdown looms

Republicans in the House blocked a bill put forward by Democrats on Thursday that would have sent $2,000 checks to individuals as part of a coronavirus financial aid package, up from the $600 agreed to in the measure approved by Congress earlier this week that President Donald Trump criticized as too meager. “Democrats agree with the president,” said House Majority Leader Steny Hoyer in a press conference following the vote. “$600 is not enough for individuals who have been struggling…it’s not enough to provide the boost our economy needs.”Hoyer, a democrat from Maryland, introduced the...

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Chris Matthews
Dec 24
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Mike Pence could ‘go rogue’ when Congress counts electoral votes, election experts warn

Mike Pence could ‘go rogue’ when Congress counts electoral votes, election experts warn

The campaign by President Donald Trump and his allies to cast doubt on the legitimacy of the November elections has dealt long-lasting damage to U.S. democracy and will set up the nation for more drama on Jan. 6, when Congress formally tallies the electoral votes for president, election experts said during a virtual forum staged by Ohio State University on Thursday evening.“There’s talk the Congress is supposed to sit in judgment of whether states conducted their elections legally,” said Ned Foley, professor at OSU’s Moritz college of law, referring to a campaign by Trump supporters in...

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Chris Matthews
Dec 17
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Mitch McConnell congratulates President-elect Biden on victory

Mitch McConnell congratulates President-elect Biden on victory

Senate Majority Leader Mitch McConnell recognized President-elect Joe Biden’s victory in the November election during a floor speech Tuesday morning. “Today I want to congratulate President-elect Joe Biden,” the Kentucky Republican said one day after the Electoral College . “I also want to congratulate the vice president–elect, our colleague from California, Sen. Harris. Beyond our differences, all Americans can take pride that our nation has a female vice president–elect for the first time.He said that while he had hoped the presidential election would “yield a different result,” the...

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Chris Matthews
Dec 15
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Larry Summers says deficit reduction would be ‘catastrophic,’ argues for new government debt yardstick

Larry Summers says deficit reduction would be ‘catastrophic,’ argues for new government debt yardstick

An all-star panel of economists implored Congress to pass a major new coronavirus stimulus package, with former U.S. Treasury Secretary Larry Summers making the argument that Washington politicians should become much more comfortable with large deficits and a growing national debt.During a virtual event staged Tuesday afternoon by the Brookings Institution to advise the incoming Biden administration and Congress on fiscal policy, Summers attacked the conventional wisdom behind the bipartisan Simpson-Bowles fiscal responsibility commission created by former President Barack Obama 10 years...

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Chris Matthews
Dec 1
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