In first post-election news conference, Obama lays out second term

November 15, 2012

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Washington, November 15:President Obama said in his victory speech last week that “elections matter.” On Wednesday, he made clear how much the election matters to him — and to the way he intends to govern in his second term.


Appearing in his first post-victory news conference, the customarily cautious Obama spoke like a politician with nothing to lose after winning the last race of his life.

Over the course of an hour, he struck an unabashedly populist tone in characterizing his second-term “mandate” to help the poor and the middle class, and he warned his partisan rivals that voters had sided with his approach to the economy during the long campaign.


There was a confidence and ease in Obama's manner far removed from the listlessness of his first presidential debate in Denver six weeks ago. There also was a stridency that had been absent during key moments in his first term, much to the dismay of his supporters.

Displaying a rare flash of anger, Obama fiercely defended U.N. Ambassador Susan E. Rice, a leading candidate to be the next secretary of state, from Republican attempts to “besmirch her reputation.” He told GOP senators to “go after me” instead and, showing the potential risks of his approach,they soon did.


“As I said during the campaign, there are going to be times where there are fights, and I think those are fights that need to be had,” Obama said, sounding like someone eager to have them.


“But what I think the American people don't want to see is a focus on the next election, instead of a focus on them,” he continued. “And I don't have another election.”


Presidents often use their first post-election news conferences to set a tone and a direction for the second term, as George W. Bush famously attempted in 2004 when he declared that he would spend his “political capital” in the years ahead.


Obama proved no different in Wednesday's White House news conference, only the 20th of his presidency. His self-assurance on display in the East Room, despite a looming fiscal crisis and a widening scandal involving former CIA director David H. Petraeus, suggested he would take a far more combative approach with Congress than he did during his first term.


The event also reflected a sense that Obama understands the need for a fast start after a draining and negative campaign. Although his term will last another four years, a second-term president's power slips away sharply after about two.


“Even less really, because the congressional elections will be taking away attention before that,” said Robert Dallek, a presidential scholar. “This is when he has his authority and influence, and his political capital is right there to be spent. He doesn't need to wait until January.”


With that narrowing window in mind, Obama said Wednesday that he intends to be as ambitious as possible, while avoiding the second-term mistakes that have afflicted at least the past three two-term presidents.


“I'm more than familiar with all the literature about presidential overreach in second terms,” he said. “We are very cautious about that. On the other hand, I didn't get reelected just to bask in reelection.”

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News Network
June 6,2020

Washington, Jun 6: US President Donald Trump has said that countries like India and China would have much more coronavirus cases than America, the worst-hit country in the world, if they conduct more tests.

Trump, in his remarks at Puritan Medical Products in Maine, said that the US has carried out 20 million tests.

Compared to the US, Germany is at four million and much talked about South Korea is about three million tests, he said on Friday.

According to Johns Hopkins Coronavirus Resource Center, the US has reported nearly 1.9 million cases and over 1,09,000 deaths, making America the worst affected country, while the total number of coronavirus cases in India and China stand at 2,36,184 and 84,177 respectively.

India has so far conducted over 4 million coronavirus tests, according to the health ministry.

Commenting on the COVID-19 tests in the US, Trump said: "We will be well over 20 million tests. Remember this, when you test more, you have more cases.

"I say to my people every time we test; you find cases because we do more testing. If we have more cases, if we wanted to do testing in China or in India or other places, I promise you there would be more cases... you are doing a fantastic job in getting out the swabs".

Puritan is one of the only manufacturers in the world producing the high-quality medical swabs that are crucial for rapid testing.

"And every swab you make at Puritan is proudly stamped with the beautiful phrase made in the USA."

"Thanks to the testing capacity that you are making possible, our country is reopening and our economy is recovering like nobody would've thought possible," he said.

Referring to the latest monthly employment numbers, Trump said that the economy is now back on track.

"We absolutely shattered expectations, and this is the largest monthly jobs increase in American history, think of that; that's a long time.

"I think it's more than double or about double of what our highest was before so this is the largest monthly job increase in American history. And we're going to have a phenomenal next year. We're going to have a tremendous couple of months prior to the election on November 3 very, very important date," the president said.

Seeking re-election for his second consecutive term, Trump is pitted against Democratic presidential nominee Joe Biden in November 3 presidential elections. Most of the opinion polls shows that Biden is several points ahead of Trump.

"It's going to be a very important election because the only thing that can screw it up is if you get the wrong president and they raise your taxes, and they open up your borders so that everybody pours into our country," Trump said.

Reiterating that he has built a strong economy in the last three years, Trump vowed to bring the economy back on track, which has been badly hit by the coronavirus pandemic.

Describing the fight against coronavirus as the greatest national and industrial mobilisation since the World War II, Trump said that his administration has marshaled the full power of the US government and US industry to defeat the invisible enemy.

"It is indeed an enemy. It came from China, should have been stopped in China. They didn't do that," he alleged.

The administration, he said, has delivered over 1.5 billion pieces of personal protective equipment to doctors and nurses on the front lines. "We slashed the red tape to speed up the development of vaccines. And vaccines are coming along incredibly well, wait till you see, and therapeutics. And we partnered at private sector leaders such as Puritan to build the largest and most advanced testing capacity on the face of the earth, like this one," he said.

The Puritan factory in Maine, he said, quickly ramped up the production to produce nearly 20 million foam tipped swabs each month.

"Then in April, my administration invoked the Defence Production Act to help you scale up even more. Under a USD 75 million public-private partnership, Puritan will soon double production to 40 million swabs per month," Trump added.

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Agencies
July 28,2020

Kuala Lumpur, Jul 28: Malaysia's ex-leader Najib Razak was found guilty Tuesday in his first trial over the multi-billion-dollar 1MDB scandal, two years after the fraud contributed to the downfall of his long-ruling government.

The former prime minister could now face decades in jail after being convicted on all charges in the case related to the looting of sovereign wealth fund 1Malaysia Development Berhad.

Billions of dollars were stolen from the investment vehicle and spent on everything from high-end real estate to pricey art, while investment bank Goldman Sachs also became embroiled in the scandal.

Anger at the looting played a large part in the shock loss of Najib's long-ruling coalition in elections in 2018, and he was arrested and hit with dozens of charges following his defeat.

The verdict was a test of Malaysia's rule of law. It comes about five months after Najib's scandal-plagued party returned to power as part of a coalition, development observers had feared could affect the outcome of the case.

About 16 months after it began, the Kuala Lumpur High Court delivered the verdict in Najib's first trial, which centred on the transfer of 42 million ringgit ($9.9 million) from a former 1MDB unit, SRC International, into his accounts.

Najib had vehemently denied wrongdoing.

But Judge Mohamad Nazlan Mohamad Ghazali took apart all the arguments put forward by his defence, and found him guilty on the seven charges he faced.

"In conclusion, after considering all the evidence in this trial, I find the prosecution has successfully proven the case," the judge told the court.

The charges were one of abuse of power, three of criminal breach of trust and three of money-laundering.

The counts of abuse of power and criminal breach of trust are punishable by up to 20 years in jail each, while the money-laundering charges are punishable by up to 15 years each.

Sentencing was not handed down straight away. The 67-year-old will likely appeal and he may not be sent to jail immediately. If his conviction is upheld, he will also be barred from political office for several years.

Najib had insisted he was ignorant of the transactions.

The defence team portrayed Najib as a victim and instead sought to paint financier Low Taek Jho, a key figure in the scandal who has been charged in the US and Malaysia, as the mastermind.

Low, whose whereabouts are unknown, maintains his innocence.

Prosecutors insisted Najib was in control of the 1MDB unit, SRC International.

The return of Najib's party to power as part of a coalition in March followed the collapse of Mahathir Mohamad's reformist administration.

Since then, 1MDB-linked charges were unexpectedly dropped against the ex-leader's stepson Riza Aziz, a producer of Hollywood movie "The Wolf of Wall Street", in exchange for him agreeing to return assets to Malaysia.

Prosecutors also dropped dozens of charges against Najib ally Musa Aman, the former leader of Sabah state.

The amounts involved in Najib's first case are small compared to those in his second and most significant trial, which centres on allegations he illicitly obtained more than $500 million.

Malaysia had charged Goldman Sachs and some current and former staff, claiming large amounts were stolen when the bank arranged bond issues for 1MDB.

But the two sides agreed to a $3.9 billion settlement last week in exchange for charges being dropped.

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News Network
June 15,2020

Jun 15: Oil prices fell on Monday, with U.S. oil dropping more than 2%, as a spike in new coronavirus cases in the United States raised concerns over a second wave of the virus which would weigh on the pace of fuel demand recovery.

Brent crude futures fell 66 cents, or 1.7%, at $38.07 a barrel as of 0016 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 81 cents, or 2.2%, to $35.45 a barrel.

Both benchmarks ended down about 8% last week, their first weekly declines since April, hit by the U.S. coronavirus concerns: More than 25,000 new cases were reported on Saturday alone as more states, including Florida and Texas, reported record new infection highs.

"Concerns about the recent uptick in COVID-19 infections in the U.S. and a potential 'second wave' are weighing on oil at the moment," said Stephen Innes, chief global market strategist at AxiCorp.

Meanwhile, an OPEC-led monitoring panel will meet on Thursday to discuss ongoing record production cuts to see whether countries have delivered their share of the reductions, but will not make any decision, according to five OPEC+ sources.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, have been reducing supplies by 9.7 million barrels per day (bpd), about 10% of pre-pandemic demand, and agreed in early June to extend the cuts for a month until end-July.

Iraq, one of the laggards in complying with the curbs, agreed with its major oil companies to cut crude production further in June, Iraqi officials working at the fields told Reuters on Sunday.

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