WASHINGTON, Aug 29 (Reuters) – Elizabeth Warren is folksy
and plain-spoken and favors cardigans over Washington power
suits. Many on Wall Street view her as their worst nightmare
but she is a hero to liberal activists and consumer groups.

This autumn, Warren, a contender to become the top U.S.
consumer financial regulator, could become a focal point in a
political debate over how far government should go to rein in
the financial sector and other corporate interests.

WASHINGTON, Aug 25 (Reuters) – The co-chairman of a
commission on the U.S. budget deficit came under fire on
Wednesday after an off-color remark that likened the payment of
government retirement benefits to milking cows.

Women’s groups and some lawmakers called for the
resignation of Alan Simpson, a Republican who serves on the
bipartisan deficit panel created by President Barack Obama.

WASHINGTON (Reuters) – The co-chairman of a commission on the U.S. budget deficit apologized on Wednesday after likening the handing out of government retirement benefits to milking cows.

Alan Simpson, a Republican who serves on the bipartisan deficit panel created by President Barack Obama, wrote this week that the Social Security retirement program has reached the point “where it’s like a milk cow with 310 million tits.”

WASHINGTON (Reuters) – General Motors Co GM.UL standing on its own again in the capital markets would be a victory for President Barack Obama as he begins to trumpet auto bailouts as a policy success ahead of the November elections.

The U.S. Treasury is heavily involved in the mechanics of selling its 60 percent federal stake in GM and shedding the “Government Motors” label. But the White House says it has no role in the share offering expected to be unveiled next week and floated on Wall Street this fall.

WASHINGTON (Reuters) – General Motors Co GM.UL standing on its own again in the capital markets would be a victory for President Barack Obama as he begins to trumpet auto bailouts as a policy success ahead of the November elections.

The U.S. Treasury is heavily involved in the mechanics of selling its 60 percent federal stake in GM and shedding the “Government Motors” label. But the White House says it has no role in the share offering expected to be unveiled next week and floated on Wall Street this fall.

WASHINGTON, Aug 11 (Reuters) – President Barack Obama
signed a bill on Wednesday aimed at easing costs for U.S.
manufacturers by reducing tariffs on materials used to make the
products they sell.

The bill is part of a “Make it in America” agenda Obama’s
Democrats are pushing ahead of the Nov. 2 congressional
elections. Backers say the initiatives will reduce the huge
U.S. trade deficit with China and other countries by bolstering
American manufacturing firms.

WASHINGTON, Aug 4 (Reuters) – BP Plc (BP.L: Quote, Profile, Research, Stock Buzz)(BP.N: Quote, Profile, Research, Stock Buzz) claimed
“a significant milestone” in efforts to plug its broken Gulf of
Mexico well for good on Wednesday, as the U.S. government said
nearly three-fourths of the spilled crude been dispersed or
captured or had evaporated.

“The long battle to stop the leak and contain the oil is
finally close to coming to an end,” said President Barack
Obama, whose approval ratings have been hurt by his
administration’s perceived slow response to the spill.
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WASHINGTON, Aug 3 (Reuters) – Harvard University law
professor Elizabeth Warren would be a very effective leader of
the new U.S. consumer financial agency but no decision has been
made yet about the post, U.S. Treasury Secretary Timothy
Geithner said on Tuesday.

“She, I think, would be a very effective, very capable
leader of that new entity because she, more than almost anybody
else in the country, was early and strong in pointing out the
need for better consumer protection,” Geithner told the ABC
News program “Good Morning America.”

WASHINGTON (Reuters) – President Barack Obama will tell Americans on Monday he is on track to carry out his campaign promise of ending the Iraq war as he marks a milestone in winding down major combat operations there this month.

Despite a deadlock in Baghdad on efforts to form a new government, Obama will highlight achievements in Iraq and discuss the formal shift taking place in the disposition of U.S. troops as they transition to a more advisory role.