⇕ Definition of text た Act of Congress: How America's Essential Institution Works, and How It Doesn't pdf ⦋ Author Robert G Kaiser ⨡

⇕ Definition of text た Act of Congress: How America's Essential Institution Works, and How It Doesn't pdf ⦋ Author Robert G Kaiser ⨡ ⇕ Definition of text た Act of Congress: How America's Essential Institution Works, and How It Doesn't pdf ⦋ Author Robert G Kaiser ⨡ Excerpted from the hardcover edition.CHAPTER ONE I Could Hear Everyone Gulp Thursday, September 18, 2008, was a fine late summer day in Washingtonblue skies, temperatures in the seventies But the politicians on Capitol Hill were in no mood to notice the weather They were thoroughly distracted by chaos in the financial markets brought on by a series of seismic events the nationalization of the government supported agencies that provided most of the financing for home mortgages, Fannie Mae and Freddie Mac then the sudden death of one enormous Wall Street institution, Lehman Brothers and a unprecedented government bailout of another, the American International Group AIG , a huge insurance company that traded financial products too The stock market was suffering convulsions The Dow Jones Industrials fell 504 points on Monday the 15th, the day Lehman Brothers went broke, then jumped 142 points on Tuesday, when the Federal Reserve Board, the American central bank, saved AIG, then dropped another 449 points on Wednesday, when several huge financial institutions were teetering The United States Congress is normally immune to emotional reactions It is a ponderous institution, usually cautious and always reactive But some events break through the protective layers of ceremony and custom that typically insulate the House and Senate from high emotion One such event was unfolding in those September days This is what a Category 4 financial crisis looks like, members of Congress and other Washingtonians read on the front page of their morning newspaper that Thursday Steven Pearlstein, The Washington Posts economics columnist, captured the sinking feeling that gripped the nations capital Giant blue chip financial institutions swept away in a matter of days Banks refusing to lend to other banks Daily swings of three, four, five hundred points in the Dow Jones industrial average What we are witnessing may be the greatest destruction of financial wealth that the world has ever seenpaper losses measured in the trillions of dollars Finance is still a confidence game, and once the confidence goes, theres no telling when the selling will stop Open ended bad news, a national and global disaster bound to get still worsethis was a formula for unbridled fear among members of the House and Senate They all knew that they would be blamed for whatever had gone wrong whenever angry voters got a chance to register their reactions The politicians always got blamedthis was an article of their professional faith Fear of being blamed might be the single most potent motivator in the House and Senate When Congress actually does something dramatic or unexpected, fear is often the best explanation This financial crisis had undermined congressional confidence In normal situations members and especially senior leaders exude a sense of being on top of events, in control This is an act, and often misleading, but rarely exposed During this week in September, the actors stumbled Congress was visibly on the defensive Its pretentious facade crumbled On the 16th, when leaders of the House and Senate met with Hank Paulson, the secretary of the treasury, and Ben Bernanke, chairman of the Fed, the fear was palpable That meeting was scheduled as Paulson and Bernanke were finalizing the plan for the Fed to put 85 billion into AIG, transforming the gigantic firm into a ward of the state Paulson realized they needed to give key members of both houses advance warning for what was about to happen For decades, administrations of both parties had realized that Congress usually did not want to do much, but it always wanted to be consulted Paulson had arranged for such a consultation with Harry Reid, the Democratic senator from Nevada who was the majority leader They would meet at 6 30 p.m in the conference room of the Senate Rules Committee in the Capitol The majority leader invited key senators and congressmen, including the chairmen of the two committees that had jurisdiction over the Fed, Senator Chris Dodd of Connecticut and Representative Barney Frank of Massachusetts There were only a few chairs in the room, so all stood When Paulson and Bernanke explained what was going to happen, the room was hushed There was an almost surreal quality to the meeting, Paulson later recounted The stunned lawmakers looked at us as if not quite believing what they were hearing Frank and Dodd both marveled that the Fed had the legal authority to simply make 85 billion available to AIG without anyone elses approval theoretically these two men were responsible for overseeing the Fed That evening they discovered that the central bank had powers they never knew existed At the end of the meeting Senator Reid was blunt I want to be absolutely clear that Congress has not given you formal approval to take action This is your responsibility and your decision That was the true voice of Congress, covering its own flanks before all else Now, on the 18th, Speaker Nancy Pelosi had gathered the leaders of her Democratic majority in her grand office on the second floor of the Capitol On this day the stock market had perked up, apparently encouraged by rumors that the administration was planning some new initiative to help banks cope with their suddenly rotten housing assets We need to get Hank Paulson up here to talk with us, Pelosi told her inner circle Ill call him and set up a meeting for tomorrow After this meeting broke up, she put in a call to the treasury secretary She wanted to be consulted For Paulson, a large, energetic man of high intellect, rich Wall Street experience, and no detectable political talent, this was another in a long string of very bad days At nine that morning the vice chairman of Morgan Stanley had called to warn that his investment bank was teetering The worlds banks refused to lend money to one anothercredit markets were truly frozen Disaster loomed Paulson spent the next several hours exploring alternative responses to the crisis with Treasury colleagues He spoke to President George W Bush on the phone and arranged a meeting with him for that afternoon to discuss what to do In a conference call with Bernanke and other Fed officials, everyone agreed that they would have to make a formal request to Congress to appropriate hundreds of billions of dollars to save the financial system No member of Congress was invited to join these conversations This was typical of modern practice in a crisis The executive would formulate a response, then bring it to Capitol Hill for approval In this case, Paulson and Bernanke both realized how hard it would be to get Congress to put up so much money to bail out banks Paulson was walking from the Treasury to the White House next door when he took Pelosis call on his cell phone She asked that he and Bernanke come up to Capitol Hill the next morning to brief the Democratic leadership Madame Speaker, Pelosi recalled Paulson replying, it cannot wait until tomorrow morning We have to come today Paulson explained just how bad things were and said he would be asking Congress for emergency powers We need legislation passed quickly We need to send a strong signal to the market now Paulson asked Pelosi to assemble a bipartisan group of senior members from both House and Senate to hear from him and Bernanke Soon after this call ended, Bernanke and Paulson sat down in the Oval Office to explain the grim facts to President Bush The administration would have to ask for an emergency appropriation of half a trillion dollars to save the financial system and prevent another Great Depression The dazed president approved this plan Pelosi conveyed Paulsons impatient message to her colleagues They were taken aback Paulson wanted an urgent meeting with House and Senate leaders, but waited for Pelosi to call him before saying so He hadnt called us recalled Steny Hoyer, the number two Democrat in the House of Representatives Pelosi told Hoyer the meeting was set for 7 p.m Her staff invited the relevant members Pelosi herself called Harry Reid, who invited the key senators Thanks to a sense of grandeur that animated the many creators of the Capitol of the United States, members of the House of Representatives and the Senate work in extraordinary physical spaces Some are ridiculously ornate, some feel like transplanted Greek temples, some are quite beautiful All convey a sense of importancethe sort of rooms that history is made in Members often volunteer the thought that the Capitols splendor influences the attitudes of those who work in it Speaker Pelosis conference room on the second floor of what is called the Capitols west central front was a good example It measures about fifteen feet by forty under vaulted ceilings decorated with classical designs and scenes from antiquity that look Roman Ornate gilded moldings separate the ceiling from the walls that Pelosis decorator had painted in a soothing coffee with cream tone A beige carpet with a repeating diamond motif covered the marble floor The room was dominated by a handsome mahogany table at least twenty five feet long, big enough to accommodate twenty two armchairs Another thirty of the same chairs lined the wallsseats for staff when large meetings were convened Above the table a giant crystal chandelier hung from the vaulted ceiling Three windows looked west over the magnificent Mall the view included the Washington Monument and Lincoln Memorial in the distance There was just one piece of art on the walls, an oil portrait of Abraham Lincoln as a young Illinois congressman, painted early last centuryanother reminder of the history made in this building The meeting in the conference room on this evening was unusual in many ways, but it provided a clear view of the congressional leadership reacting spontaneously to unexpected bad news Pelosi took her usual seat in the middle of the long table, with her back to the windows Harry Reid sat on her right The table was decorated with three bouquets of fresh flowers and two bowls of nuts and chocolatesGhirardelli chocolates from Pelosis hometown, San Francisco The guests sat facing Pelosi and Reid Bernanke, Paulson, several of his aides, and Chris Cox, a former Republican congressman from California who was the hapless chairman of the Securities and Exchange Commission, theoretically the regulator of many of the financial institutions now dead, dying, or endangered The others present were the two Republican leaders, Senator Mitch McConnell of Kentucky and Representative John Boehner of Ohio, who sat on Pelosis left Dodd and Frank and the senior Republican members of their committees, Senator Richard Shelby of Alabama and Representative Spencer Bachus, also of Alabama and other members of the leadership of both houses Democratic senators Dick Durbin of Illinois, Chuck Schumer of New York, and Patty Murray of Washington Republican representative Roy Blunt of Missouri and Democratic representatives Rahm Emanuel of Illinois and James Clyburn of South Carolina Pelosi had ordered that only a handful of staff be allowed into the room, and six or eight were present Of this group, only half a dozen had a reasonably good understanding of the financial markets Dodd and Frank, Shelby and Bachus, Schumeroften called the senator from Wall Streetand Emanuel, a former investment banker As Paulson had discovered in his two years in Washington, the gulf that divided Capitol Hill from Wall Street was wide and deep Too many members of Congress neither understood finance, nor wanted to learn about it A prominent Republican in the House had confided to Paulson that one third of our guys are real knuckle draggerscavemen, primitives After two years on the job, Paulson knew this to be true Pelosi quickly turned the meeting over to Paulson, who anticipated a hostile reception when he asked members of Congress to approve hundreds of billions for the banks They already suspected he was just trying to bail out his old friends on Wall Street, he had told Bernanke at the White House that afternoon, after their meeting with Bush Theyll kill me up there on Capitol Hill Ill be hung out to dry Bernanke, an economics professor at Princeton before becoming a Federal Reserve Board governor in 2002, volunteered to speak first to exploit his considerable credibility He had no Wall Street experience he was an academic, an egghead, whose specialty was the Great Depression He had the sort of rigorous, specialized expertise that can intimidate members of the House and Senate Paulson understood the mission His chief of staff, Jim Wilkinson, a veteran of the Bush White House staff, had laid it out for him as he left the Treasury for Capitol Hill This is only going to work if you scare the shit out of them Paulson knew that Bernanke could do this best So when Pelosi turned her meeting over to Paulson, he reported briefly on their session with President Bush that afternoon and on the presidents decision to propose new legislation, then asked Bernanke to describe the state of the financial system Bernanke handled himself like a professor leading a seminar, but a seminar with an unusual subject the possible end of the world as we know it He assumed no prior knowledge on the part of his class He explained They were facing a grave financial crisis There had been a loss of confidence, and the markets were not working There was a credit freeze The commercial paper markets had ceased to operate The stock market had dropped by than a thousand points The efforts he and Paulson had made to restore normalcy had proven inadequate, so they were now asking Congress to support an unprecedented appropriation of hundreds of billions of dollars to shore up the banks and head off total collapse Bernanke said that he had been studying the Great Depression for his entire adult life If we dont act in a very huge way, you can expect another Great Depression, and this is going to be worse, he said sternly It is a matter of days before there is a meltdown in the global financial system And he warned, Our tools are not sufficient to deal with this crisis This is a save your country moment, said Cox of the SEC, implying that hundreds of billions of dollars was a tolerable expense under such extreme circumstances Its time to come together and act, Cox said He knew his former colleagues, knew that wrapping the cause in the flag could help Senator Reid noted that the stock market was up sharply that day, suggesting that maybe they didnt have to be so afraid Bernanke dismissed this newsthe market was up based on rumors that this meeting was going to take place, and that new government action would follow If the expected actions didnt materialize, Bernanke said, the market would plummet I kind of scared them, Bernanke said later I kind of scared myself When Bernanke had finished his brief, terrifying lecture, Paulson spoke In all his years at Goldman Sachs thirty two of them until he became treasury secretary in 2006 , Ive never seen anything like this, Paulson said They were living through a once in a century event To salvage the situation, we have to buy residential and commercial mortgages and mortgage backed securities from the banks that held them We need hundreds of billions of dollars to start off Congress, Paulson said, had to pass legislation at oncethe next weekto allow Treasury to begin buying these toxic assets Without action they faced a financial calamity The country could collapse.An exceptionally informative, candid, evenhanded description of the congressional process ChoiceMr Kaiser depicts the gruesome business of legislating in the wickedly honest fashion only a journalistic veteran, liberated from the restraints imposed on daily reporters, could get away with he names names and spares no one The Wall Street JournalLike Robert Caro, Kaiser has a gift for writing a legislative page turnerThis should be a book on every informed voters reading list New York Journal of BooksIf you want to know how Washington really works, read this book Its the ultimate inside story of a major piece of legislation that will affect the way the country does business for decades to come Robert G Kaiser, who knows the terrain like few others, was given unique access to the key players as they pasted this complicated package together Kaiser shows us the personalities, the politics, and the process Cokie Roberts, political commentator, NPR and ABC NewsIts wonderful to read a story about how Congress can actually get something done This is an exclusive behind the scenes tale of how an important bill became law Its a book we really need now Walter Isaacson, author of Steve JobsKaiser writes with the clarity of a world class journalist, the depth of a scholar, and the evocative style of a novelist His latest book about Barney Frank, Chris Dodd, and financial reform is a master class in understanding the modern Congress David Maraniss, author of Barack Obama The StoryRobert Kaiser knows so much about how Congress works, and writes so well about it, it makes meas a former legislatorboth uneasy and grateful He spots our limitations but leaves every reader with a much better understanding of Americas least understood important institution Lee H Hamilton, former member of the House of RepresentativesRobert G Kaisers Act of Congress is the most detailed, fascinating and sophisticated case study of congressional law making to appear in years It shows how thoroughly polarized partisanship has reshaped the entire process, but also how exceptionally skillful politicking can nonetheless still occasionally produce landmark legislation It will be ideal for courses on Congress Im adding it to my own syllabus and the policy making process, but it will also enlighten anyone who wants a better understanding of how present day national institutions workor fail to do so It s a great read Dr Gary C Jacobson, professor of political science at the University of California, San Diego Act of Congress captures the story of the historic assertion of federal power known as Dodd Frank in all its complexity, with its lasting implications for the balance of power between Washington and Wall Street Robert Kaisers triumph is to make this complex subject an intimately human tale Thanks to reporting and insight, the story of Dodd Frank is revealed not simply as a collision of public and private interests on Wall Street, but as a kind of case study in the anthropology of modern Washington A great story by a journalist singularly well equipped to tell it.John Harris, editor in chief of PoliticoWe have been waiting for this Robert G Kaiser, one of our most skilled and thoughtful journalists, has written the inside story of one of the most important legislative measures of the last decade Kaiser weaves a compelling story of institutions, parties, personalities, and strategy This book is essential reading for students of Congress and national policy making, for everyone interested in the policy response to the Great Recession, and for citizens who care about the dysfunction of American national government.Steven S Smith, professor of political science at Washington University Act of Congress is easily the best book on Congress I have read in decades It is a stupendous achievementrichly informative, a pleasure to read, wise in its assessments of why Dodd Frank was able to succeed and how this case is exception than rule in these difficult governing times Congressional scholars have much to learn from the book I certainly did and generations of students will find it their favorite and most rewarding assigned reading in classes A classic Thomas E Mann, Senior Fellow, Governance Studies, The Brookings InstitutionRichly detailedRemember that old saw about making sausages and making lawsthat you dont want to know too much about either one Kaiser disproves it with this lucidbook Kirkus ReviewsBob Kaiser has written a captivating and insightful account of the Dodd Frank reform of financial services regulation He convincingly explains both the successes of key actors and why, in the current Congress, such successes are increasingly rare.Congressman David E PriceTodays Congress is not yesterdays Congress The rules may seem the same, but new players, bigger campaigns, partisanship and less civility means time raising money, fewer hours in session, minimal socialization across the aisle and delegation to committee staffs Act of Congress is the first book to describe in detail what it takes to legislate in the new Congress Robert Kaiser was present at the creation of the Dodd Frank Act His reputation as a straight shooting reporter earned him open access to the staffs of Congressman Barney Frank and Senator Chris Dodd, and extensive interviews with the key players in both parties The result is an enlightening, sobering, tour de force Any teacher who hasnt read this book should have his syllabus examined Samuel L Popkin, author of The CandidateRobert Kaisers Act of Congress is a great read He makes a complex issue and an arcane process understandable and interesting.Readers get a real sense for the interplay of politics and policy and of personality and structure that goes into passing major legislation Not just for Congress junkies, Kaisers book is a fascinatingHow Done It Barbara Sinclair, professor emerita of American politics at UCLAIntricate and incisiveKaiserfinds the drama in arcane parliamentary procedure and paints extraordinary fly on the wall scenes of legislative sausage makingHis absorbing true life political saga exposes the good, the bad, and the ugly in Congress Publishers Weekly Act of Congress is a tour de force , an unparalleled account of the difficulty of legislating in an intensely polarized political era Robert Kaiser brings decades of experience to the task, deftly showing how lawmakers balanced policy goals and political risk to build bicameral majorities for landmark Wall Street reform I look forward to assigning this masterful work to my students in the years to come.Sarah Binder, professor of political science atGeorge Washington UniversityCongress is the most powerful, and least well understood, branch of the American government Luckily, Robert Kaiser is here to explain it to us Required reading for anyone who is affected by Washington, which is, as Kaiser demonstrates in this book, all of us.Ezra Klein, columnist, The Washington PostThe great value of Robert G Kaisers Act of Congress is its refusal to accept the Washington clich that the Dodd Frank legislation represents a moment when Congress worked the way it is supposed to It uses the passage of the most far reaching piece of financial reform legislation since the New Deal to show not how Congress works, but how it doesnt, even when a result is attained.Michael Tomasky, The New York Review of Books Riveting Kaiser offers an insightful primer on how laws are made, from conception to passage, as well as the characters and culture of the U.S Congress, observed from an astonishing perspective most citizens never see BooklistCertain to become a classic, this rich and beautifully crafted book tells the story of a rare moment of congressional success Who would have thought such a thing possible Lawrence Lessig, professor at Harvard Law SchoolOne of the best books on the legislative process in a long time BloombergA crackling page turnerKaiserdelivers a clear understanding of the issues as well as the exhausting, exhilarating and often appalling political process His extensive original reporting and deep research lend both richness and authority to the lively text The Plain DealerInformative, incisive and timely, Act of Congress provides essential lessons in civics about how business is done in Washington, D.C The Boston GlobeFor those interested in the legislative process Act of Congress is essential reading PolicyMic.comInstructive and colorfula classic study of how Congress works You dont have to be a wonk to want to read on National Catholic RegisterAn exceptionally informative, candid, evenhanded description of the congressional process Choice From the Hardcover edition. Act of Congress Official Site Home page Act Congress, an americana group from Birmingham Alabama Wikipedia What does act mean Definitions An is a statute enacted by the United States It can either be Public Law, relating to general public, or Private specific institutions individuals congress Idioms The Free Dictionary In conformity with entitled, for encouragement Learning, securing copies Maps, Charts, and Books, authors proprietors such copies, during times herein mentioned Shows Shows Simple English Wikipedia, free according powers granted it Constitution term used in other countries legislature called , as Philippines Congress US legislation, Congressional Record debates, Members legislative process educational resources presented Library HR th Stand UK against Russia Violations Department Defense Labor, Health Human Services, Education Appropriations Act, Law Legal Definition USLegal, IncKILA refers statutes legislation that are formally through To become first bill resolution has passed majority members both Dec Mix YouTube plays Songs on Rick Bubba Show Duration viewsCold Winter, Cold War Robert G Kaiser Enter your mobile number email address below we ll send you link download Kindle App Then start reading books smartphone, tablet, computer no device required Custom care coverage just Kaiser Permanente There many ways live healthy And when re Permanente member, people work together help stay way Your doctor, specialists, health plan all part one connected team coordinating Browse By Author W Project Gutenberg ebooks online Did know us produce proof day Go Distributed Proofreaders Marken Ley Marken Wir fhren eine Vielzahl exklusiven Mode und Lifestyle unseren Filialen Bertram Frank, Cruse Classics, CUBE, Edda Moden, Esprit Store, Ley s Markenmode Megastores City Stores, Outlets Rosa Damenmoden Wilhelm II, German Emperor Wilhelm II Friedrich Viktor Albert January June was last King Prussia, reigning until his abdication November He eldest grandchild Queen Victoria Kingdom related monarchs princes Europe, most notably, Robert Bike, Photos Freeport, Illinois, Memorials historian, Freeport Stephenson County, Memorials The Stone Calendar Tuesday FM pm Hyperunderstanding Matt Mitchell piano, modular synth Chris Tordini bass Kim Cass Kate Gentile drums Wendy Eisenberg tenor banjo, acoustic guitars, electric guitar Joanna Mattrey viola Jonathan Finlayson trumpet Ben Gerstein trombone Jeremy Viner clarinet Kaiser Chiefs Ruby Lyrics AZLyrics song Let never said Romance dead Cause there so little else Occupying my head Family Foundation Policy Research website provides depth information key policy issues including Medicaid, Medicare, reform, global health, HIV AIDS, insurance, uninsured Kennedy Assassination maryferrell If they going shoot, shoot Candidate F aide Fred Dutton, April Kennedy, who had made enemies time Washington scene, well aware dangers he faced trying reclaim Presidency lost brother killed Dallas P McCulloch Paxton May February 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House Speakers former co seven seasoned speaker, makes frequent appearances prominent retired early after career than years paper During served managing How America Essential Institution Kaiser, our skilled thoughtful journalists, written inside story important measures decade weaves compelling institutions, parties, personalities, strategy Bad News About Brookings covered local politics, London, Moscow Saigon, national spent sixteen editor, them Meddling New long list played parts calamitous war Vietnam, few were Edward Geary Lansdale Born swashbuckling Air Force officer though hid fact Office Strategic Services York Times Illustrated pp Alfred Knopf Noam Scheiber Republic Escape Artists Disaster Richard Nixon Issue Being Man Divided Evan Thomas persistently empathetic subject, but also fine reporter biographer Are rich enough true philanthropist So Much Damn Money Triumph Lobbying Corrosion Government Piketty An overlooked dream, now remembered Post city been edge days Fearing riot, mayhem lord knows Moderated Senior Fellow EJ Dionne, findings, followed reflections Senator Dodd, Act of Congress: How America's Essential Institution Works, and How It Doesn't

    • Format Kindle
    • 449 pages
    • Act of Congress: How America's Essential Institution Works, and How It Doesn't
    • Robert G Kaiser
    • Anglais
    • 2017-01-12T18:44+03:00