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Biden and McCarthy reach a final deal and now must sell it to Congress
Securities Law Firm |
2023/05/29 10:15
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With days to spare before a potential first-ever government default, President Joe Biden and House Speaker Kevin McCarthy reached final agreement Sunday on a deal to raise the nation’s debt ceiling and worked to ensure enough support in Congress to pass the measure in the coming week.
The Democratic president and Republican speaker spoke late in the day as negotiators rushed to draft and post the bill text for review, with compromises that neither the hard-right or left flank is likely to support. Instead, the leaders are working to gather backing from the political middle as Congress hurries toward votes before a June 5 deadline to avert a damaging federal default.
“Good news,” Biden declared Sunday evening at the White House.
“The agreement prevents the worst possible crisis, a default, for the first time in our nation’s history,” he said. “Takes the threat of a catastrophic default off the table.”
The president urged both parties in Congress to come together for swift passage. “The speaker and I made clear from the start that the only way forward was a bipartisan agreement,” he said.
The final product includes spending cuts but risks angering some lawmakers as they take a closer look at the concessions. Biden told reporters at the White House upon his return from Delaware that he was confident the plan will make it to his desk.
McCarthy, too, was confident in remarks at the Capitol: “At the end of the day, people can look together to be able to pass this.”
The days ahead will determine whether Washington is again able to narrowly avoid a default on U.S. debt, as it has done many times before, or whether the global economy enters a potential crisis.
In the United States, a default could cause financial markets to freeze up and spark an international financial crisis. Analysts say millions of jobs would vanish, borrowing and unemployment rates would jump, and a stock-market plunge could erase trillions of dollars in household wealth. It would all but shatter the $24 trillion market for Treasury debt.
Anxious retirees and others were already making contingency plans for missed checks, with the next Social Security payments due soon as the world watches American leadership at stake.
McCarthy and his negotiators portrayed the deal as delivering for Republicans though it fell well short of the sweeping spending cuts they sought. Top White House officials were briefing Democratic lawmakers and phoning some directly to try to shore up support.
One surprise was a provision important to influential Sen. Joe Manchin, D-W.Va., giving congressional backing for the controversial Mountain Valley Pipeline, a natural gas project, that is certain to raise questions. |
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Islamic scholar acquitted of rape by Swiss court
Court News |
2023/05/24 09:41
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A Swiss court on Wednesday acquitted noted Islamic scholar Tariq Ramadan on charges of rape and “sexual constraint,” citing lack of material evidence more than a decade after the alleged actions, contradictory witness statements and what resembled love messages to the accused.
The court said it would pay Ramadan’s lawyers’ fees. It was a first victory for the former Oxford scholar with a worldwide reputation who had a brutal fall from grace with similar accusations still pending in France.
Ramadan faces potential trial in France over allegations by several other women that emerged more than five years ago.
Ramadan, a Swiss citizen, was jailed in February 2018 in France and handed preliminary rape charges over two alleged assaults in France, one in 2009 and another in 2012. A third woman filed a rape complaint against him in March. He was released on bail nine months later.
The outspoken scholar has consistently denied any wrongdoing and filed a lawsuit saying the allegations were false.
In the Swiss case, the court noted that it didn’t pass judgment on Ramadan’s sexual practices or his morality. A statement said the plaintiff’s accusations weren’t corroborated by any material elements, including traces of sperm or blood. It also considered the “the numerous internet exchanges” between the Swiss plaintiff and several people implicated in the French case were “of a nature to influence” what she and witnesses told the court.
The court said that messages the plaintiff exchanged with Ramadan immediately after the acts in question and for weeks later appear more like “messages of love and, above all, make no mention” of her allegations during a night at a hotel.
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Russia indicts ICC prosecutor, judge who issued war crimes
Securities Class Action |
2023/05/22 12:33
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Russia on Sunday announced indictments in absentia for a judge and prosecutor of the International Criminal Court who issued a war crimes warrant for President Vladimir Putin.
A statement from the national Investigative Committee said the judge, Rosario Salvatore Aitala, and prosecutor Khan Karim Asad Ahmad are both charged with “preparing to attack a representative of a foreign country enjoying international protection in order to complicate international relations.”
Each also faces other charges. Conviction could bring prison terms of up to 12 years. The committee also said other ICC officials are being investigated.
The March warrant against Putin accuses him of personal responsibility for the abductions of children from Ukraine. The court also charged Maria Lvova-Belova, the Russian presidential commissioner for children’s rights.
It was the first time the global court has issued a warrant against a leader of one of the five permanent members of the U.N. Security Council. |
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Suspect in fatal stabbing of Cash App founder pleads not guilty
Headline Legal News |
2023/05/18 09:26
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Tech consultant Nima Momeni pleaded not guilty Thursday to a murder charge in the stabbing death of Cash App founder Bob Lee on the streets of San Francisco.
San Francisco Superior Court Judge Victor Hwang ordered Momeni, 38, kept in jail without bail, saying he posed a public safety risk if released. Momeni, who appeared in an orange sweatshirt and pants, did not speak, and his attorney Paula Canny entered the plea on his behalf.
The case has drawn national attention, partly given Lee’s status in the tech world. Lee was found with three stab wounds, including one to the heart, shortly after 2:30 a.m. April 4 and was taken to a hospital where he later died. He was found in the Rincon Hill neighborhood in downtown San Francisco, which has tech offices and condominiums but little activity in the early morning hours.
Lee, 43, created Cash App, a mobile payment service, and was the chief product officer of the cryptocurrency MobileCoin. He was mourned as a loving father of two who made friends wherever he went.
Prosecutors have not provided a motive but say Momeni stabbed Lee after a dispute related to Momeni’s sister, who appeared in court Thursday alongside their mother.
Assistant District Attorney Omid Talai argued Thursday to detain Momeni without bail, saying that the defendant drove Lee to a secluded spot and used a knife that was part of a unique kitchen set belonging to his sister. Police recovered a knife with a 4-inch (10-centimeter) blade at the scene.
Talai said that analysis showed Momeni’s DNA on the handle of the knife and Lee’s DNA on the bloody blade and no evidence that Lee had touched the handle, contradicting Canny’s claim of self-defense for her client.
But Canny said that Momeni did not drive Lee to a secluded spot with the aim of killing him. Instead, she said, Lee directed him to pull over after calling an Uber because the two had argued. The last time Momeni saw Lee, Canny said, Lee was standing upright and walking away.
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‘Rust’ movie medic gets $1.15 million partial settlement
Court News |
2023/05/12 14:23
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A New Mexico judge has approved a $1.15 million settlement between a medic who worked on the “Rust” film set and one of several defendants she accused of negligence in the fatal 2021 shooting of a cinematographer by Alec Baldwin during a rehearsal.
Court records show the partial settlement between Cherlyn Schaefer and prop master Sarah Zachry was approved during a hearing Monday. Schaefer told the judge there’s not a day that goes by when she doesn’t think about what happened, the Santa Fe New Mexican reported.
In her civil complaint, Schaefer said she fought desperately in a failed attempt to save the life of cinematographer Halyna Hutchins. She said the shock, trauma and emotional distress that followed has made it impossible for her to continue working in her field.
Prosecutors dismissed an involuntary manslaughter charge against the actor and producer last month, citing new evidence and the need for more time to investigate.
State District Judge Kathleen McGarry Ellenwood had entered a default judgment against Zachry in November after the film worker failed to file responses within court deadlines.
Zachry’s current attorney, Nathan Winger, told the court Monday that her previous attorney, William Waggoner, let deadlines pass without her permission, and she intends to seek damages from him to fund her settlement with Schaefer. Waggoner disputes the claim.
Justin Rodriguez, one of several attorneys representing Schaefer, said the settlement “is a small portion of what we expect to receive in the future.” The remaining defendants include Rust Movie Productions, weapons supervisor Hannah Gutierrez-Reed and assistant director David Halls, but not Baldwin.
Schaefer’s complaint claims Zachry and Gutierrez-Reed failed to ensure there were no live rounds in Baldwin’s weapon. An involuntary manslaughter charge remains pending against Gutierrez-Reed, but her attorneys have said they fully expect her to be exonerated. |
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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The content contained on the web site has been prepared by Securities Law News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. | Affordable Law Firm Website Design by Law Promo |
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