Washington’s Favorite Banker

Who is Obama's "favorite banker"? That's Jamie Dimon, the head of JPMorgan Chase (JPM) according to the New York Times. Dimon will hold a meeting of his board in Washington on Monday that the White House chief of staff, Rahm Emanuel, is expected to attend. The paper attributes the special guest appearance to Dimon's pull in the nation's capital. "With the crisis, Mr. Dimon, a longtime Democratic donor, has become even more politically engaged, in the process becoming perhaps the most credible voice of a discredited industry," the paper says. Dimon comes to Washington about twice a month and requires his senior managers to make the commute as well.

A national landmark of sorts—the Watergate Hotel—is back in the news. The hotel has been empty since 2007, and for the past year its owners have been trying to unload it, the Washington Post reports. The famous hotel reportedly needs a lot of renovations and might be a risky investment, but it's still creating plenty of buzz in the international real estate community. "The bank holding the $40 million loan is putting the foreclosed property up for auction, and in real estate circles, the much-anticipated sale is flooding the phones, fax lines and e-mail in-boxes of a District auction house," the paper says. Among potential suitors: a luxury hotel chain from the Middle East, a "big-time" D.C. developer, and a hotel company from London.

According to the New York Times, at least 13 states have invested millions of dollars, despite tight budgets, to cover 250,000 more children with subsidized government health insurance. "The states' willingness to spend, even under excruciating budget pressures, is a measure of the support for expanding health care coverage to the uninsured as Congress and the administration intensify their negotiations over a new federal health care bill," the article says. A number of states have held back from making this plunge, citing their "depleted coffers" as the reason that they can't expand their programs.

According to Reuters, Yahoo (YHOO) board member, Carl Icahn, has spoken out in favor of the company's long-rumored deal with Microsoft (MSFT). "I've been a strong advocate of getting a search deal done with Microsoft," he told Reuters, though he declined to comment on any negotiations between Yahoo and Microsoft. Meanwhile, Microsoft and Yahoo are coming close to reaching a much-anticipated search and online advertising deal, which could be announced in the next week.

The Washington Post clears up what kind of car qualifies as a "clunker" under the Consumer Assistance to Recycle and Save Act of 2009—also known as "Cash for Clunkers." The program will offer up to $4,500 for car owners who trade in old gas-guzzling cars for more fuel efficient models. A clunker is not necessarily an old, rusted piece of junk, the paper explains. "Mileage is key to identifying a clunker. To qualify, cars and trucks cannot get more than 18 miles per gallon for combined city and highway fuel economy. Industry watchers say vehicles made in the mid-1990s are among the most gas-guzzling cars and trucks on the road." As a result, a 1997 Lexus SC 400 coupe or even a luxury 1998 Mercedes-Benz M-Class sport-utility vehicle could qualify.

And finally, Harry Potter is making box-office magic once again. According to the LA Times, Harry Potter and the Half-Blood Prince made a $22.2 million midnight debut last week, and it's on track to gross about $80 million this weekend—to make a $160 million five-day opening.