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Former French President Sarkozy found guilty of corruption, sentenced to prison

  
Analysis, Politics

Sarkozy going to jail

Sarkozy going to jail
Former French President Sarkozy was found guilty of corruption and sentenced to 3 years in prison, two of which are suspended.
The 66-year-old politician was convicted of trying to illegally obtain information from a senior magistrate in 2014 about a legal action in which he was involved.
The evidence was a wiretap in which Sarkozy promised a judge a job in exchange for leaking information about another legal case, known by the name of France’s richest woman, L’Oreal heiress Liliane Bettencourt.
In one of these phone calls with a co-accused, Sarkozy said of the judge: “I’ll make him move up … I’ll help him.”

Biden says ‘time to act’ on $1.9 trillion stimulus

  
Analysis, Politics

Biden urges Senate to pass legislation

Biden urges Senate to pass legislation
Biden called on the Senate to quickly pass the $1.9 trillion stimulus package after it cruised through the House.
“It’s time to act,” he said on Saturday, noting that an “overwhelming” percentage of Americans support the bill. “We have no time to wasted.”
The bill will provide $1400 each to Americans making up to $75,000 and families making $150,000 or less.
The bill will face about two weeks of hearings and debate. Senate leader Chuck Schumer pledged to pass it by March 14 when the previous round of stimulus expires.

White House Press Secretary Psaki holds first press briefings

  
Analysis, Politics

Takes over from Trump Administrations Kylie McEnaney

White House Press Secretary Psaki
  • Will bring back truth, transparency to briefing room
  • that she will participate in WHO meeting tomorrow
  • Biden’s 1st foreign leader call will be with Canada’s Trudeau on Friday
  • early leader calls will be with partners, allies
  • administration intends to return to regular health briefings
  • getting cabinet is front and center for president Biden (no cabinet members have been approved by the Senate)
  • plan to meet soon with congressional leaders on Covid
  • Covid relief package was not designed with $1.9 trillion as a starting point but based on need for special proposals
  • we are at the beginning of negotiations on Covid relief plan
  • clear preference is to move forward with bipartisan bill
  • will have more from health experts on schools reopening
  • follow on diplomacy will lead to constraints on Iran nuclear program
  • plans for Iran negotiations will be part of Biden’s early consultation with allies
  • more details on use of Defense production act for vaccine distribution tomorrow
  • Biden will leave the mechanics of running impeachment trial to Congress

As expected, Biden signs executive orders

  
Analysis, Politics

Getting started with the new Biden administration

As expected, Pres. Biden has signed a series of executive orders:
  • revocation of Keystone XL oil pipeline permit
  • document rejoining Paris climate cord
  • and to travel ban on some majority-Muslim countries
  • memo aimed at strengthening DACA program
  • executive order requiring mask wearing and federal buildings and on federal lands
  • end of emergency declaration used to divert funds to build wall on the US – Mexico border

The president also expressed that former Pres. Trump wrote a “very generous letter”.

Meanwhile on Capitol Hill,
  • Sen. Schumer says the Senate works best when they work together
  • Schumer adds that the Senate will work differently with Democratic majority
  • Sen. Reed says timing for Lloyd Austin Department of Defense vote will go through committee as soon as possible
  • Senate Minority Leader McConnell congratulates VP Harris and welcomes new centers
Having the day off in the NY session to absorb the inauguration ceremonies, I am filled with hope for a more united political environment which hopefully extends to the general public.  Having said that there will be disagreement and those that can’t “let it go”.  Also, with the margins in the House and Senate very close, it will keep the checks and balances in place and hopefully encourage cooperation and compromise from both sides of the aisle.
There is something refreshing about a new beginning.  Let’s hope and pray for the best for all.

Joe Biden sworn in as President of the United States

  
Analysis, Politics

Biden sworn in as 46th US President

Biden sworn in as 46th US President
That must be a surreal moment for a man who dreamed of becoming President for his entire adult life.
For reference, here are all the main market levels on his swearing in:
  • S&P 500 3841
  • DJIA 31,118
  • Nasdaq 13,424
  • 10-year note yield 1.095%
  • WTI crude $53.37
  • Nat gas $2.47
  • Gold $1868
  • DXY 90.47
  • EUR/USD 1.2111
  • GBP/USD 1.3658
  • USD/JPY 103.58
  • USD/CNH 6.46

Trump not expected to pardon himself – report

  
Analysis, Politics

Tomorrow is last-minute pardon day

Trump is expected to issue more than 100 pardons tomorrow, and one may include Julian Assange. However one person who won’t be getting one is Trump himself. The ability of the President to pardon himself is a murky legal concept and he’s not going to go down that round, according to Fox and a separate report from Reuters.
He’s also not going to offer protective pardons for his family, according to the same report.
CNN reported that Dr Salomon Melgen, a prominent eye doctor from Palm Beach who is in prison after being convicted on dozens of counts of health care fraud, is expected to be on the clemency list.
There’s also a disturbing report saying an associate of Rudy Giuliani told a former CIA officer a presidential pardon was “going to cost $2m”
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