IE 11 is not supported. For an optimal experience visit our site on another browser.

2012: Bracing for a wild week

“It's the biggest secret in a city known for not keeping them. The nine Supreme Court justices and more than three dozen other people have kept quiet for more than two months about how the high court is going to rule on the constitutionality of President Barack Obama's health care overhaul,” the AP writes. “This is information that could move markets, turn economies and greatly affect this fall's national elections, including the presidential contest between Obama and Republican challenger Mitt Romney. But unlike the Congress and the executive branch, which seem to leak information willy-nilly, the Supreme Court, from the chief justice down to the lowliest clerk, appears to truly value silence when it comes to upcoming court opinions, big and small.”

“Washington is in for one of its wildest weeks in a long time, and the stakes could hardly be higher for President Barack Obama,” Politico writes. “The Supreme Court is expected to hand down its landmark decision on the president’s signature first-term achievement, the 2010 health care law, a ruling with huge implications for Obama’s legacy and his prospects for a second term. A second high court opinion on Arizona’s immigration law will touch on another hot-button campaign issue. Across the street at the Capitol, meanwhile, Congress will confront two critical legislative disputes that Obama has put at the forefront of his campaign lately: student loan rates and highway funding.”

The Detroit Free Press: “If the justices strike the insurance mandate, but leave the rest of health reform intact, this case will provide little relief to opponents of the Affordable Care Act. That's because the insurance mandate was mainly intended as a way to contain costs. Without it, but with the other reforms charging forward, the pressure will be back on Republicans in Congress to work with President Obama to come up with an alternative form of cost savings.”

Financial Times: “Bank chiefs enjoy double-digit pay rises.” “Top US and European bankers, including JPMorgan Chase’s Jamie Dimon and Citigroup’s Vikram Pandit, have enjoyed double-digit annual pay rises averaging almost 12 per cent, despite widespread falls in profits and share prices, Financial Times research shows. The disclosure will stoke concern on both sides of the Atlantic over chief executive pay levels that has already led to several high-profile investor revolts, including at Citi and at Barclays. It comes as Europe’s leaders debate a cap on bank bonuses.”

“When it comes to the economy, half of Americans in a new poll say it won't matter much whether Barack Obama or Mitt Romney wins — even though the presidential candidates have staked their chances on which would be better at fixing the economic mess,” AP writes.