John McCain News

Bipartisan Senate Megabank Bill Would Split Banking from Insurance, Other Risks

A small bipartisan group of U.S. senators on Thursday introduced legislation that would break up Wall Street’s megabanks by separating traditional banking activity from riskier financial services. The bill, called the 21st Century Glass-Steagall Act, has an uncertain future, but …

BP’s Partners Will Not Set Up Gulf Oil Claims Fund

The two oil companies that are BP’s partners in the now-capped oil well told Congress Thursday they will not set aside money for cleanup costs along the Gulf Coast because it is BP’s responsibility. Anadarko Petroleum Corp. and MOEX, a …

Obama, Republicans Clash at Healthcare Summit

President Barack Obama and Republicans clashed frequently Thursday at a summit on his stalled healthcare overhaul, battling over the size and cost of the proposal and moving no closer to a compromise agreement. Obama told about 40 congressional leaders his …

Obama Officials Say Health Plan Has Republican Ideas

Republicans should find things to like in President Barack Obama’s healthcare reform plan because they were taken from Republican bills or have been advocated by Republicans, the president’s top healthcare reform officials said Thursday. In an opinion piece for The …

Health Bill Passes Key Senate Vote

A broad healthcare overhaul passed its first crucial test in the Senate Monday, with 60 Democrats voting to put President Barack Obama’s top legislative priority on a path to passage by Christmas. In a middle-of-the-night vote in a snowbound U.S. …

Congress Weighs Restoring Wall Between Banking, Insurance

Financial giants such as Goldman Sachs Group could be broken up under two bills introduced in the U.S. Congress Wednesday, one with the backing of former Republican presidential nominee John McCain. Both would reinstate the 1930s-era Glass-Steagall laws that barred …

Katrina MRGO Ruling Could Bring New Deluge of Lawsuits

A landmark court ruling blaming the Army Corps of Engineers’ “monumental negligence” for some of the worst flooding from Hurricane Katrina could lead to a new deluge: billions of dollars in legal action from thousands of storm victims. The federal …

Obama Urges Congress to End Bickering and Pass Healthcare Reform

President Barack Obama told Congress Wednesday to end its political bickering and move quickly on a broad healthcare overhaul that would dramatically transform the U.S. health system and insurance market. In a sometimes emotional speech, Obama said lawmakers were closer …

Democrats Eye Health Co-Ops as Health Insurance Option Compromise

With Republicans fighting the idea of a government-run health insurance plan, Obama administration officials said that they are open to a compromise: a cooperative program that would expand coverage with taxpayer money but without direct governmental control. Congress began work …

Which Members of Congress Got Insurance Money In Last 2 Elections?

Auto, home, business and life insurance companies contributed $35,743,017 million to members of Congress during the last two election cycles, according to an analysis by the nonprofit, nonpartisan Consumer Watchdog. About $5 million went to members of the House subcommittee …