Posts by Jeff Fecke

In another sign of the worsening American credit crisis, JP Morgan Chase agreed to buy out insolvent investment firm Bear Stearns for approximately $267 million.

Bear Stearns, which was valued at $3.54 billion at close of trading on Friday and almost $16 billion as recently as last year, was damaged fatally by a liquidity crisis evidently [...]

Attorney Ashwin Madia picked up 32 of 49 delegates up for grabs Saturday, to widen his lead over State Sen. Terri Bonoff, DFL-Minnetonka, in the race for the DFL’s Congressional endorsement in Minnesota’s 3rd District.

Madia now holds 82.5 of the 124.5 named delegates to the DFL’s 3rd District convention. Bonoff trails with 63. The remaining [...]

Sen. Barack Obama, D-Ill., has strongly decried comments made by his former pastor, Rev. Jeremiah Wright and defended his decision to remain a part of his church.

“I vehemently disagree and strongly condemn the statements that have been the subject of this controversy,” wrote Obama. “I categorically denounce any statement that disparages our great country or [...]

The U.S. House of Representatives today passed a reauthorization of the Foreign Intelligence Services Act that does not include retroactive immunity for telecommunications companies.

By a vote of 213-197-1, the House amended the Senate bill to strip language that would have given immunity to telcoms that may have assisted the Bush administration in setting up illegal [...]

George W. Bush videoconferenced with military and civilian personnel in Afghanistan Thursday morning. “I must say, I’m a little envious,” he said. “If I were slightly younger and not employed here, I think it would be a fantastic experience to be on the front lines of helping this young democracy succeed.”

When Bush was younger and [...]

Edina Mayor Jim Hovland today suspended his campaign for the Democratic endorsement in the 3rd Congressional District.

Hovland, a recent convert to the DFL, had been trailing behind attorney Ashwin Madia and State Sen. Terri Bonoff, DFL-Minnetonka, in the race for the endorsement. The winner will face off against State Rep. Erik Paulsen, R-Eden Prairie, for [...]

Speaking before the National Newspaper Publishers Association, an association for African- American community newspapers, Sen. Hillary Clinton, D-N.Y., apologized Wednesday night for comments made by former Rep. Geraldine Ferraro, D-N.Y., a prominent Clinton supporter, regarding Clinton’s chief rival for the Democratic nomination, Illinois Sen. Barack Obama.

Ferraro had initially said that Obama owed his position in [...]

There are six weeks until the Pennsylvania primary, and just a handful of states are still waiting to cast their ballots. So where does the Democratic race stand, and can it be said to still be a race? Here’s a quick run-down of the states outstanding, and where Clinton and Obama can look to advance [...]

Eliot Spitzer, the combative New York governor who has been under fire after revelations he engaged the services of prostitutes, announced today that he will resign effective next Monday, March 17.

Spitzer, a Democrat who rose to prominence as the picture of a squeaky-clean, take-no-prisoners prosecutor, was subdued in his resignation.

“I am deeply sorry that I [...]

Under fire for saying Barack Obama is leading the Democratic race for the presidency because he is African-American, an unrepentant former Rep. Geraldine Ferraro, D-N.Y., lashed out at critics in a series of interviews on Tuesday.

“Any time anybody does anything that in any way pulls this campaign down and says let’s address reality and the [...]