Benzinga's Political Roundup July 6, 2011

President Barack Obama asked Congress yesterday to get a

as opposed to a makeshift, short-term solution. Obama also wants tax hikes included in the deficit reduction deal. Yesterday, Moody's cut Portugal's credit standing to junk, warning the country may need a

There may not be a contribution by

as it looks as if banks have sold off a substantial proportion of their Greek government-bond holdings despite saying they would not. The FDIC is going to back a

and take away up to two years of Wall Street executives' pay if they are found responsible for the collapse of a major financial firm. The People's Bank of China said it will

by 25 basis points.