Delaware
Carper and Coons Give a Big Thumbs Up to TBTF
And a big thumbs up to letting banks put the money in deposit accounts in the same kind of risky bets that their investment accounts are in. I can’t say that I’m too surprised at this — banks do own the road here — but I’m still appalled at this position. It is a position that is ONLY good for banks — the rest of us with deposit accounts (and who pay taxes) are definitely the losers here. Because the point of a Glass-Steagall 2 is to separate the deposit accounts (the only part of the banking business explicitly guaranteed by the feds), from the investment business (which is not insured). The point of Glass-Steagall 2 is to dismantle one more part of the TBTF scheme — specifically the part where banks get to privatize their profits and get to socialize their losses. Until taxpayers get a say in the risks (and get a cut of the benefits) of the TBTF business, taxpayers should not backstop what the banks do here.
Charlie Copeland is going to get a new job today.
The state GOP is holding their special convention today, during which they will elect their new State Party Chairman. Former Chairman John Sigler resigned back in May, and the newly elected vice Chair, Nelly Jordan, a Sussex County tea party activist, took over as Acting Chairman. However, she has had some trouble fundraising and is not running in her own right for a full term. She has instead endorsed the only candidate for Chairman, former State Senator and du Pont heir Charlie Lamont Copeland. So really, today is more of a coronation than an election, but whatever.
Copeland is viewed by others in the party as the ideal candidate to heal the civil war within the party between the Northern establishment business Republicans and the Southern radical tea party Republicans. And that is because Charlie embraced the tea party in 2010 while still having the literal bloodlines of the establishment.
“I think the rumors of the death of the Republican Party in Delaware have been wildly exaggerated,” [Copeland] said. “The myth is that there’s a big difference between Greenwood and Greenville.”
I guess he forgets the 2010 U.S. Senate Republican Primary. I guess he forgets Booth v. Bodenweiser. Rollins v. Urquhart. Copeland is your typical Republican. He doesn’t like the facts, so he pretends that the facts and the reality are myths.
But Copeland is pledging to do something that is sure to cause further division in his party….
Chart of the Day — Dodd Frank Isn’t Hurting Banks
Everyone who is surprised that the Banking Apocalypse that Dodd-Frank was loudly predicted to be hasn’t materialized, raise your hand. Thought so. While bank profits have had ups and downs since the crash, they are certainly plenty profitable and definitely not in any real risk as they tried to convince us otherwise. So here is the chart from the article in NY Magazine:
First Looks at the Delaware Health Insurance Exchange
Under the ACA, each state is supposed to create and manage a medical insurance marketplace where people who aren’t covered by insurance can buy plans. Delaware’s Health Insurance Marketplace website went live this AM — although the details of the exchange and the insurance options on offer are not yet available. I’m mildly surprised that California and NY got theirs up earlier — I had thought at one time that Delaware was pretty far ahead of the planning curve for planning and implementing this. Which is probably a misconception on my part.
![Thursday Daily Delawhere [7.18.13]](http://farm6.staticflickr.com/5339/9312334148_a62397db91_z.jpg "Thursday Daily Delawhere [7.18.13]")
Vance Phillips Pleads the Fifth
At least that is what is being reported in the Cape Gazette today. You’ll remember that Phillips is being accused of sexually assaulting a campaign staffer in 2011 — repeatedly. So much for looking forward to Phillips telling his side of the story — as his legal team claimed he was eager to do.
![Wednesday Daily Delawhere [7.17.13]](http://farm4.staticflickr.com/3751/9165273535_206c52976e_z.jpg "Wednesday Daily Delawhere [7.17.13]")
Election 2014: Delaware’s Most Vulnerable Incumbents
I’m El Somnambulo, and I’m a listaholic.
Admit it: So are you.
Bearing in mind that incumbents need viable challengers in order to be vulnerable, here is a list of those with at least reason to be worried:
State Auditor Tom Wagner: A do-nothing R in an increasingly D state. Here’s the problem. If a do-nothing R is replaced by a do-nothing D, does it really make any difference? No doubt it does to Tom Wagner. But not to Patrick Harker or Lonnie George. Which is my point. And the problem.
State Treasurer Chip Flowers: While the R’s talk hopefully, and, IMHO, delusionally, about defeating him, I suspect that any real challenge would come from the Democrats. We’ll likely know in 6 months or so whether there will be a party-backed challenger. We might as well get used to Flowers being a polarizing figure by choice. Which would be fine if it was principle, not ego, driving that train.
State Senator Greg Lavelle (4th SD): Got 50.8% against Michael Katz. Probably less vulnerable this time, but he’s got two more years of anti-gay and pro-gun votes on his record. Will a credible challenger emerge?
I know that people expect me to have Ernesto Lopez on this list, but I don’t see him as particularly vulnerable. Feel free to make a case.
More inside….
![Tuesday Daily Delawhere [7.16.13]](http://farm4.staticflickr.com/3818/9212400214_22438f026c_z.jpg "Tuesday Daily Delawhere [7.16.13]")
Gambling on Delaware’s casinos
Markell is in a tough spot when it comes to the casinos. But does it justify a million-dollar bailout that amounts to a small band-aid on a gushing wound?
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