The Senate voted 67-31 to end debate on a reform bill to modify the Dodd Frank banking bill.  While overall the approach is needed and will likely find White House support, the Senate Bill -as constructed- doesn’t do enough to modify the control held by massive multinational financial institutions, who hold lobbying power over congress.  Unfortunately, the corruptocrat leadership in the Senate will not allow the house to modify the bill as needed.

The current reform bill sets the tiered definition for lowered regulation at $250 billion in assets and there are some domestic banking beneficiaries.  However, it doesn’t break up the investment division from influence over the commercial banking.  The argument against breaking up the system is that if divisional separation is required – the banks best interests would naturally put the investment division ahead of commercial lending and the liquid capital within the overall economy would shrink.

The Trump/Mnuchin approach toward a secondary deregulated but financially sound banking system focused on commercial lending and was constructed around Community Banks and Credit Unions with far less regulatory and compliance hurdles.

WASHINGTON – All Republicans and more than a dozen Democrats voted to move the bill toward a vote on final passage, which is scheduled for Wednesday evening.

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CNBC had an exclusive interview with Larry Kudlow (CNBC is his former job), it is laugh-out-loud interesting to hear (second-hand) how Kudlow explained the NEC Chairmanship perspective at the conclusion of several conversations with President Trump.   WATCH:

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It appears from the second-hand account within the interview above that Mr. Kudlow appreciates his position.  He can now practice making sandwiches.  (I kid. Well, sorta)

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An accurate headline could also be: President Trump puts a beautiful potted plant into the unused meeting room of the National Economic Council, and Wall Street cheers.

According to media and White House confirmation President Trump has selected Larry Kudlow to chair the National Economic Council:

[…] “Larry Kudlow was offered, and accepted, the position of assistant to the President for Economic Policy and Director of the National Economic Council,” Sanders said. “We will work to have an orderly transition and will keep everyone posted on the timing of him officially assuming the role.”  (link)

Kudlow is essentially adored by Wall Street (writ large), and as such all the nervous nellies will be back-slapping and high-fiving. As the stock market crowd cheers, what the insufferable dolts miss, thankfully miss and don’t appreciate, is the strategy of a master economic predator, Donald Trump. This Trumpian move is brilliant.

First, President Trump is immovable on his trade and economic agenda. Period; end of story. Ask Gary Cohn or any other member of the disassembled manufacturing council advisory board who quit last year because POTUS Trump just wouldn’t heed their duplicitous and high-minded advice. Do you remember candidate Trump mentioning the endless talking to nowhere that he has not time for? Yeah, that.

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A very interesting dynamic today, with a motive that may not be as transparent as initially appears. The New York Times and Washington Post are both reporting the FBI’s internal Office of Professional Responsibility (OPR) has recommended to AG Jeff Sessions that FBI Asst. Director Andrew McCabe should be fired.

The reason for the recommendation surrounds the DOJ Inspector General discovering that FBI Asst. Director Andrew “Andy” McCabe intentionally leaked information about the Clinton investigation to the media, and coordinated the leaks therein.  The IG referred the issue to the FBI’s internal OPR for review and recommendation to the Attorney General. The Times and Post are leaking information of the determination by the OPR that Andrew McCabe should be fired.

(NYT) […] Now, Mr. Sessions is the final arbiter of Mr. McCabe’s dismissal, shortly before his retirement takes effect Sunday. Though no decision has been made, people inside the Justice Department expect him to be fired before Friday, a decision that would jeopardize his pension as a 21-year F.B.I. veteran. (link)

If AG Jeff Sessions fires McCabe for cause, the former FBI Deputy could, likely would, lose his pension and benefits.  McCabe is scheduled to retire with those benefits on March 20th, six days from now.

The dynamic is interesting.  An OPR recommendation for disciplinary firing puts AG Jeff Sessions into a box; he has two options:  Option #1 is fire McCabe.  Option #2 is set aside the OPR ruling and allow McCabe to retire.  Sessions has to take one of those two actions.

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President Donald Trump is traveling to Missouri today to promote recent tax cuts and campaign for Republican U.S. Senate candidate Josh Hawley.  The president is scheduled to visit the Boeing plant in St. Louis where he will hold a round table with business leaders and workers, then plans to attend a fundraiser for the senate candidate.

The roundtable discussion with Boeing business leaders will be livestreamed at 4:00pm

UPDATE: Video Added

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The special election in Pennsylvania Congressional District 18 is today.  The polls close at 8:00pm EST.  The district political registration heavily favors the Democrat Conor Lamb with a +50,000 advantage in Democrat registered voters.  However, President Trump carried the mostly blue-collar district in 2016, and he supports Republican Rick Saccone.

Generally speaking the Democrat Conor Lamb is favored; and with that outcome in mind the media began using this likely Democrat win to position an anti-Trump narrative.  To counter that narrative President Trump went to PA and campaigned with Rick Saccone.  Both RNC and DNC have spent a lot of money on this temporary district race.

Democrat Conor Lamb is attempting to revive the extinct “blue-dog” model and has refuted Nancy Pelosi along with the far-left-wing of the Democrat party; while emphasizing his strong labor union relationships.  On the Republican side, the district is Pro-Trump on the national economics but candidate Rick Saccone has strongly supported ‘right-to-work’ policies which the local unions do not like.  So it’s a weird election.

Pennsylvania State Election Return Results – HERE

New York Times – Election Results HERE

After visiting the U.S.-Mexico border, and reviewing the border wall prototypes, President Trump delivered an amazing speech to service members at Marine Corps Air Station Miramar.

Speaking from the heart and with great humor, to a group he adores, President Trump delivered an uplifting speech to the Marine assembly. Terrific ‘Must Watch’ speech:

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President Donald Trump traveled to San Diego today for a tour of eight border wall prototypes today along with a speech to members of the military at Marine Corps Air Station Miramar.

This is President Trumps first trip to California as president. The peoples’ president spent about an hour reviewing the 30-foot wall segments near the U.S.-Mexico border. Trump’s promise of building a border wall was the primary visible promise made during the 2016 presidential campaign trail. As president, he has been steadfast in his push for the completed project.

“If you don’t have a wall system, we’re not going to have a country,” Trump said at the site of the prototypes. “There’s a lot of problems in Mexico. They have a lot of problems over there. And they have the cartels. And we’re fighting the cartels, and we’re fighting them hard. … But the fact is, if you don’t have a wall system, it would be bedlam, I imagine.”

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Secretary of State Rex Tillerson did an excellent job representing the professional and deliberate diplomatic approach of the U.S. and President Trump administration.  His personal view toward foreign service on behalf of the U.S. was exemplary, and deserves high praise.

Having said that, as President Trump stated earlier today, there was also more than a tinge of disunity between the advocated views of Tillerson and the views of the Commander in Chief toward economic national security.   At times the fractures between policy perspectives were visible.  Over time those differences became more obvious.

As Secretary of the DoS Rex Tillerson supported the Paris Climate Treaty; the President did not; Secretary Tillerson supported the Obama administration’s Iran deal; the President did not; Tillerson was more apologetic toward lax immigration policy; the President is not; and there were other visible departures visible surrounding the use of economic leverage to achieve national security advancements, specifically on the issue of China and North Korea policy.

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Former Secretary of State Rex Tillerson is scheduled to hold a press conference moments from now to discuss current events including his exit from the Dept. of State and his replacement by CIA Director Mike Pompeo.

UPDATE: Video Added

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