Big Banks Win

Huge drama on Capitol Hill all day yesterday and last night. The House barely passing a $1.1 trillion spending bill to keep the government running. There was a rebellion on the left as lawmakers left in a giveaway to the big banks.. essentially insuring the American taxpayer will be on the hook for any major losses by the big banks for risky trading. JP Morgan lobbied legislators to make the bill happen, and Citibank reportedly helped write the bill.

There was also a rebellion on the right as conservatives were upset the GOP didn't take a tougher stand against the President's executive actions on immigration, and Obamacare. In the end, though, there were enough votes to pass the measure. Now it faces another battle in the Senate. Republican Ted Cruz and Democrat Elizabeth Warren expected to fight the bill's passage. There's lots to discuss in the actions of this late Congress today.. we'll try to get to it all.

We're also getting new reaction to the CIA Director John Brennan's news conference on CIA interrogation methods after 9/11. Brennan defended the CIA as Senator Dianne Feinstein of California was basically tweeting that Brennan wasn't telling the whole truth. Fascinating times.

The massive storm that's been slamming Northern California and the Sierra Nevada mountains now also hitting Southern California. The storm has caused power outages and has toppled trees and caused flooding. California is in a record-setting drought, so the moisture is needed.

No deal so far on emissions targets as the U.N. global climate change talks wrap up in Lima, Peru.

Oil prices fell below $60 a barrel today for U.S. crude in world markets as gas and energy prices continue a more than 40% drop. Stocks here in the U.S. closed higher yesterday, but gave up most of the days earlier big gains on new concerns about energy companies. Futures are lower for today. President Obama meets with Saudi Arabia officials today at the White House.

Sad news to report. Our colleague Dominic Di-Natale has died. He was just 43 years old.

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Clint Henderson

Clint Henderson is the Executive Producer for “Happening Now” and an avid traveler. Follow his adventures on Twitter, ClintPHenderson, and Instagram, clintpage1.