the panel also approved sarah raskin and peter diamond to be on the fed board. the nominations now go to the full senate for a vote. >> tom: still ahead, from mattel to ibm, big multinational companies can see big swings in their earnings depending on the value of the dollar. tonight's "street critique" guest explains why. he's wolfgang koester, c.e.o. of currency management firm fireapps. >> suzanne: the tickets will cost up to $30,000 each. no, we're not talking about the super bowl. it's tonight's fundraiser with president obama here in new york. there are two of them, actually. the events mark that bipartisan time of year when lawmakers put their fundraising efforts into high gear ahead of the fall elections. and this year, the events are expected to raise more than $3 billion, a new record. darren gersh reports. >> reporter: they used to call the august congressional break a "recess." but that sounded too much like a vacation. so when lawmakers leave town next week, they will officially be taking a summer district work period. they could just as easily call

i am pleased to join with the senators in very strong support of sarah bloom raskin to go on the federal reserve board. this is a terrific appointment. it really comes at the right time, given the responsibilities that the fed is assuming in the legislation and many of the responsibilities it already has. . . in the 1990's, she served for five years, roughly five years on the staff of the banking committee. she was an outstanding member of the staff, very measured in her judgment, extremely hard working, very smart, and very able to deal with people across the board. she was part of a terrific staff, including kathy casey, who went from the committee staff to the sec and is serving there now with distinction. i want to take just a moment of the committee's time to quote from some letters that have come in in support of sarah, because i think it gives you some sense of the breadth of support for her. the conference of state bank supervisors has written to chairman dodd and ranking member shelby. i will just quote one paragraph from this. as maryland banking commissioner, commissioner rask

i am pleased to join with the senators in very strong support of sarah bloom raskin to go on the federal reserve board. this is a terrific appointment. it really comes at the right time, given the responsibilities that the fed is assuming in the legislation and many of the responsibilities it already has. i will not repeat the biographical statement that senator card and made, but i just want to make a few quick observations. sarah has been an outstanding commissioner of financial regulation for the state of maryland over the last three years. in the 1990's, she served for five years, roughly five years on the staff of the banking committee. she was an outstanding member of the staff, very measured in her judgment, extremely hard working, very smart, and very able to deal with people across the board. she was part of a terrific staff, including kathy casey, who went from the committee staff to the sec and is serving there now with distinction. i want to take just a moment of the committee's time to quote from some letters that have come in in support of sarah, because i think it gives yo

i am here in strong support of sarah bluegrass in to be on the federal reserve board. -- sara bloom raskin. i am not going to repeat the biographical statement that senator card in made. i do want to make a few quick observations. sarah has been an outstanding commissioner of financial regulation for the state of maryland over the last three years. forhe 1990's, she served five years on the staff of the banking committee. she was an outstanding member of the staff, very measured in her judgment, extremely hard- working, very smart, and very able to do with people across the board. she was part of a terrific staff, including, incidentally, kathy casey who went from the committee staff to the sec and is serving there now with distinction. i want to take just a moment of the committee's time to quote some letters that have come in in support of sarah. the conference of state bank supervisor has written to chairman dog and ranking member shall be. -- chairman dodd and ranking shelby.shall b she brings leadership to her agency and maryland's financial industry. the conference of state superviso