By Tabassum Zakaria
WASHINGTON, Dec 6 (Reuters) - Democrats are pulling out the big guns in tax talks.
President Barack Obama and Vice President Joe Biden are meeting with Democratic congressional leaders today to discuss the "progress being made" in negotiations with Republicans.
The meetings will give Obama a first-hand account of the lay-of-the-land on Capitol Hill, and perhaps a chance to discuss areas of potential compromise. Of course without Republicans in the room, it will be a one-sided discussion, but may provide some fresh ammo.
Sometimes tackling the big issues in Washington can seem a bit like reaching for the stars. Obama spoke today about America facing a "Sputnik moment" in its quest for economic recovery.
When President John F. Kennedy had his "Sputnik moment" a half-century ago, he called for an American to be sent to the moon, and ultimately succeeded. Will Obama's "Sputnik moment" end just as well?
Be sure to look at Scot Paltrow's special report on the depth of questionable signing and notarization practices at Lender Processing Services, a Florida-based firm that handles more than half of the country's foreclosures. LPS is not a household name, but it is a central player in the so-called robo-signing controversy.
It's all in the lingo. The Global Language Monitor says "Palinism" and "Obama-mess" are likely to be among the top global words of 2011, which will likely be commonly pronounced "Twenty-Eleven."
And speaking of lingo, searched far and wide for a Britishism for our departing Bureau Chief Simon Denyer, and came up with - Cheerio.
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Here are our top stories from Washington today:
Obama presses for tax-cut compromise
President Obama, closing in on a deal with Republicans to extend tax cuts, said he might not get "100 percent of what I want" but compromise was necessary to head off a rate increase for the middle class. [ID:nN06211347]
Special report: Legal woes mount for a foreclosure kingpin
Lender Processing Services is riding the waves of foreclosures sweeping the United States, but in late October its CEO, Jeff Carbiener, found himself needing to reassure investors in the ${esc.dollar}2.8 billion company. Although profits were rolling in, LPS's stock had taken a hit in the wake of revelations that mortgage companies across the country had filed fraudulent documents in foreclosures cases. [ID:nN06230361]
House eyes funding for Dodd-Frank, other needs
The House of Representatives is likely to vote this week on a measure that could fund the new Dodd-Frank financial-industry crackdown and other priorities of the Obama administration. [ID:nN06215800]
SEC to toughen custody rules for broker-dealers
The top securities regulator plans to hold broker-dealers more accountable for their customers' assets after Bernard Madoff duped his clients out of billions of dollars. "We are considering enhancing oversight of broker-dealer custody by providing new information and tools to regulatory examiners," SEC Chairman Mary Schapiro said at an accounting conference. [ID:nN06247504]
U.S., allies seek China, Russia help on North Korea
The U.S., Japan and South Korea pressed China and Russia to help defuse tensions on the Korean peninsula as Chinese President Hu Jintao warned President Obama the situation could "spin out of control." [ID:nL3E6N605W]
U.S. eyes trade 'triple crown' as APEC host
The United States plans a big push toward freer trade in the Asia Pacific region in 2011, starting with approval of bilateral free trade agreement with South Korea. "The 'triple crown' in 2011 is the U.S.-Korea Free Trade Agreement passed and implemented, significant progress on the TransPacific Partnership and a very strong APEC year with a lot of concrete outcomes on trade and investment issues," said Kurt Tong, senior U.S. official for APEC at the State Department. [ID:nN06211767]
US looks beyond espionage to deal with Wikileaks
Attorney General Eric Holder said on Monday the Obama administration was considering using laws in addition to the Espionage Act to possibly prosecute the release of sensitive government information by WikiLeaks. [ID:nN06190214]
US court to hear utilities' emissions suit appeal
The Supreme Court will hear an appeal by four big coal-burning utilities of a ruling that a group of states and New York City can proceed with a global-warming lawsuit seeking to reduce the carbon dioxide emissions of the power companies. [ID:nN06207948]
What we are blogging...
Obama has his "Sputnik moment," will it succeed like JFK's?
Trying to get the economy back on track may sometimes seem a bit like reaching for the stars. President Obama today declared that America is facing a "Sputnik moment." http://blogs.reuters.com/frontrow/2010/12/06/obama-has-his-sputnik-moment-will-it-succeed-like-jfks/
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