Goodwin to Temporarily Fill Byrd’s U.S. Senate Seat

July 16, 2010, 3:05 PM EDT

(Updates with comment from Manchin in third paragraph and Goodwin in seventh paragraph.)

July 16 (Bloomberg) -- West Virginia Governor Joe Manchin named his former general counsel, Carte Goodwin, to temporarily fill the U.S. Senate seat vacated by the death of Democratic Senator Robert Byrd.

Manchin, a Democrat who has said he is interested in running for the seat in a special election, announced his choice of Goodwin, a Charleston lawyer, at a news conference in the state capitol.

“I know he’s going to make us all proud,” Manchin said. He said Goodwin, at 36, will be the youngest serving senator, replacing “the most beloved, the most historic figure that the Senate has ever known.”

Byrd died June 28 at age 92 after 57 years in Congress, the longest-serving member in history.

Financial Reform Bill Passes the U.S. Senate

Published July 16, 2010 by: Nathaniel Hines

Regulatory Triggers May Take Some Time to Impact Immediately

Touted as the largest financial reform in the last 50-plus years of United States history, the Senate passed the Dodd-Frank bill on Thursday, July 15, by a vote of 60-39.

The new legislation has taken aim at tightening capital requirements for the banking industry, adding transparency to consumer transactions and developing wind down procedures for those institutions that fail to meet its conditions. President Barack Obama plans to sign the legislation next week.

Complex Financial Instruments Another component of the bill includes a harness on the derivatives market and complex financial instruments that have been blamed as critical fuel for the recent market downturn. Shareholders now have more say in the structure on how corporate executives obtain compensation.

US Senate to grill oil chiefs on Lockerbie

Catherine Philp, Washington | The Times | July 17, 2010 12:00AM

BP executives have been summoned to appear before a powerful Senate committee to explain the company's alleged role in freeing the Lockerbie bomber.

As Downing Street admitted yesterday the release of Abdul Baset Ali al-Megrahi from a Scottish jail had been a "mistake", BP officials found they would have to testify to US senators on July 29 about their alleged role.

Several influential US politicians have claimed Megrahi had been freed last year as a result of lobbying by the oil giant. "We must get to the bottom of what led to the mistaken release of the only person ever convicted of that terrible crime," Senate foreign relations committee chairman John Kerry said.

McCain debates other candidates as Senate race heats up

By the CNN Wire Staff
July 16, 2010 6:09 a.m. EDT

(CNN) -- John McCain will continue the fight to retain his Senate seat Friday as he debates his competitors in Arizona. McCain will square off against former Rep. J.D. Hayworth and Tea Party activist Jim Deakin in a debate at 7 p.m (10 p.m. ET) at the studio of CNN-affiliate KTVK in Phoenix.

The three are vying for the Republican nomination for the U.S. Senate seat. The primary is scheduled for August 24.

McCain is widely ahead of his two challengers, according to a poll released this week.

A Behavior Research Center survey indicates that 64 percent of likely Arizona Republican primary voters support McCain, and 19 percent Hayworth. Five percent support Deakin and 12 percent are undecided.

McCain, the GOP's 2008 presidential nominee, is bidding for a fifth term in the Senate.