Where’s the Oil?

by: toniD
July 29th, 2010

The Oil on the surface in the Gulf has seemed to disappear. Where did it go? My bet is that it is still there, below the surface and the Marshes are still loaded with it. Let’s see what the “experts” say.

Oil in gulf is degrading, becoming harder to find, NOAA head says

Oil from the BP blowout is degrading rapidly in the warm waters of the Gulf of Mexico and becoming increasingly difficult to find on the water surface, the head of the National Oceanic and Atmospheric Administration said Tuesday.

“The light crude oil is biodegrading quickly,” NOAA director Jane Lubchenco said during the response team daily briefing. “We know that a significant amount of the oil has dispersed and been biodegraded by naturally occurring bacteria.”

Lubchenco said, however, that both the near- and long-term environmental effects of the release of several million barrels of oil remain serious and to some extent unpredictable.

“The sheer volume of oil that’s out there has to mean there are some pretty significant impacts,” she said. “What we have yet to determine is the full impact the oil will have not just on the shoreline, not just on wildlife, but beneath the surface.”

But much of the oil appears to have been broken down into tiny, microscopic particles that are being consumed by bacteria. Little or none of the oil is on seafloor, she said, but is instead floating in the gulf waters.

Her conclusions come from the work of several NOAA boats now collecting water samples, as well as the analysis of academics brought in to help study the spill effects. The goal, she said, is to get a scientifically sound assessment of the overall environmental effects of the spill.

“To do this, we’re working with the best scientific minds in the government, as well as the independent scientific community, to produce an estimate of just how much oil has been skimmed, burned, contained, evaporated and dispersed,” she said. “We’re getting close to an answer.”

And from the NY Times:

John Amos, president of SkyTruth, an environmental advocacy group that sharply criticized the early, low estimates of the size of the BP leak, noted that no oil had gushed from the well for nearly two weeks.

“Oil has a finite life span at the surface,” Mr. Amos said Tuesday, after examining fresh radar images of the slick. “At this point, that oil slick is really starting to dissipate pretty rapidly.”

The dissolution of the slick should reduce the risk of oil killing more animals or hitting shorelines. But it does not end the many problems and scientific uncertainties associated with the spill, and federal leaders emphasized this week that they had no intention of walking away from those problems any time soon.

The effect on sea life of the large amounts of oil that dissolved below the surface is still a mystery. Two preliminary government reports on that issue have found concentrations of toxic compounds in the deep sea to be low, but the reports left many questions, especially regarding an apparent decline in oxygen levels in the water.

From the Washington Post:

Now, 14 days after the well was closed and 100 days after the blowout, U.S. government scientists are working on calculations that could shed some light on Hayward’s analysis (even if they can’t shed light on why he said it). They are trying to figure out where all the oil went.

Up to 4 million barrels (167 million gallons), the vast majority of the spill, remains unaccounted for in government statistics. Some of it has, most likely, been cleaned up by nature. Other amounts may be gone from the water, but they could have taken on a second life as contaminants in the air, or in landfills around the Gulf Coast.

And some oil is still out there — probably mixed with chemical dispersants. Some scientists have described it floating in underwater clouds, which one compared to a toxic fog.

“That stuff’s somewhere,” said James H. Cowan Jr., a professor at Louisiana State University. His research has shown concentrations of oil still floating miles from the wellhead. “It’s going to be with us for a while. I’m worried about some habitats being exposed chronically to low concentrations of toxins. . . . If the water’s contaminated, the animals are going to be contaminated.”

‘The truth is in the middle’

We’ll be living with the mess for at least this century. And Just because you can’t see it, doesn’t mean it’s not there in some shape or toxic form.

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War Funds vs Wikileaks

by: toniD
July 28th, 2010

Just like the BP Oil Spill in the Gulf didn’t seem to change the minds of many Congressmen and Senators, the Huge Wikileak dump of documents about the War in Afghanistan didn’t change the minds of many Congressmen and Senators. All but 12 of the Republicans in the House voted for War Funding and we are waiting to see how many Republicans will vote for the Energy Bill since it has been pushed back till after the Summer Recess of the Senate.

From the NY Times on the House Vote for War Funding:

House Approves Money for Wars, but Rift Deepens

The House of Representatives agreed on Tuesday to provide $59 billion to continue financing America’s two wars, but the vote showed deepening divisions and anxiety among Democrats over the course of the nearly nine-year-old conflict in Afghanistan.

The 308-to-114 vote, with strong Republican support, came after the leak of an archive of classified battlefield reports from Afghanistan that fueled new debate over the course of the war and whether President Obama’s counterinsurgency strategy could work.

But Mr. Obama and top military officials said Tuesday that the disclosure of the documents should not force a rethinking of America’s commitment to the war. As Mr. Obama told reporters in the Rose Garden, “While I’m concerned about the disclosure of sensitive information from the battlefield that could potentially jeopardize individuals or operations, the fact is these documents don’t reveal any issues that haven’t already informed our public debate on Afghanistan.”

On a day of continuing political and military fallout over the leaked reports, Pentagon officials said that Pfc. Bradley Manning, 22, an Army intelligence analyst arrested last month on charges of leaking a video of an American helicopter attack in Iraq and charged this month with downloading more than 150,000 classified diplomatic cables, was a “person of interest” in an Army criminal investigation to find who provided the battlefield reports to the group WikiLeaks.

Administration officials said passage of the spending bill, which now goes to Mr. Obama for his signature, showed that the leak had not jeopardized Congressional support for the war and noted that the Senate passed the measure last week with no objection. Democratic leaders in the House said the Congress needed to act to provide the money troops overseas.

“The president is taking a wise and balanced approach in Afghanistan, and it deserves our support,” said Representative Steny H. Hoyer, the Maryland Democrat and majority leader.

In the House vote, 148 Democrats and 160 Republicans backed the war spending, but 102 Democrats joined 12 Republicans in opposing the measure. Last year, 32 Democrats opposed a similar midyear spending bill. Among those voting against the bill on Tuesday was Representative David R. Obey, a Wisconsin Democrat and the chairman of the Appropriations Committee, the panel responsible for the measure.

Some of the Democratic opposition stemmed from the decision by party leaders to strip from the bill money that had been included in the original House version to help address the weak economy at home, including funds to help preserve teachers’ jobs. But some of those voting against it said they were influenced by the leaked documents, which highlight the American military’s struggles in Afghanistan and support claims that elements of Pakistan’s intelligence service were helping the Taliban.

“All of the puzzle has been put together and it is not a pretty picture,” said Representative Jim McGovern, Democrat of Massachusetts. “Things are really ugly over there. I think the White House continues to underestimate the depth of antiwar sentiment here.”

More from this article on the confirmation hearing for the replacement of Gen. Patraeus for Central Command, Gen James Mattis and his views on Wikileaks…..

On another part of Capitol Hill, at a confirmation hearing for Gen. James N. Mattis to lead the military’s Central Command and oversee the wars in Iraq and Afghanistan, Democrats on the Senate Armed Services Committee pressed General Mattis about the course of the war.

Senator Jack Reed, Democrat of Rhode Island, pointedly asked General Mattis whether he agreed that a July 2011 deadline for the start of American withdrawals from Afghanistan would mean shifting from the current troop-intensive counterinsurgency strategy to an “increasingly important emphasis” on counterterrorism. In other words, should not the United States use the date to begin moving toward a more limited strategy of hunting down insurgents without trying to rebuild Afghanistan? General Mattis quickly agreed.

“I think that is the approach, Senator,” he said.

General Mattis and two Republicans on the panel, Senator John McCain of Arizona and Senator Lindsey Graham of South Carolina, used the occasion to denounce the leaks, which Mr. McCain said were “simply an extended footnote to a well-known reading of recent history.”

General Mattis agreed with Mr. McCain. “One of the newspaper headlines was that war is a tense and dangerous thing,” he said. “Well, if that is news, I don’t know who it’s news to that’s on this planet.”

In his opening statement, General Mattis declared, “Despite any recent papers leaked to the media, we are remaining in the region; we are not leaving.”

General Mattis, who is expected to be confirmed by the committee and the full Senate, is to replace Gen. David H. Petraeus, whose tour at Central Command was cut short when Mr. Obama asked him to take command of the allied mission in Afghanistan after Gen. Stanley A. McChrystal was relieved.

Even with 102 of the Democrats and 12 of the Republicans voting against the funding, it looks like, for now, this war will go on. We need an anti war protest the size of the Viet Nam protest to get through to these “leaders”. And here at home, at least two thirds of this nation is suffering from our economy. Doesn’t make sense. But lately not much does!

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Wikileaks Reaction and Other News

by: toniD
July 27th, 2010

The Washington Post is saying: Leak itself gains more attention than the contents. And another article in the WAPO: Is WikiLeaks the Pentagon Papers, Part 2? Parallels, and differences, exist.

Huffington Post has a list of reactions to Wikileaks War Diary Here.

Tony Hayward will get his life back: BP: Tony Hayward OUT, Robert Dudley IN As CEO On October 1 BP: Hayward Shipped Off To Russia

This may be the first test of the SCOTUS rules change of Corporate money being used top support candidates for office:

Target Corp. spending company money on candidates

ST. PAUL, Minn. — Here’s something Target Corp. isn’t advertising in its Sunday circular: The discount retailer is now a major donor to a group backing the Republican candidate for Minnesota governor.

And that’s not sitting well with every Target shopper.

Under new laws allowing corporations to spend company money on election campaigns, the Minneapolis-based chain gave $150,000 to a Republican-friendly political fund staffed by insiders from departing GOP Gov. Tim Pawlenty’s administration. The group, MN Forward, is running TV ads supporting state legislator Tom Emmer, the presumptive GOP nominee.

The corporate money is flowing since the U.S. Supreme Court threw out parts of a 63-year-old law that prohibited companies and unions from donating to campaigns for or against candidates. The decision, which came earlier this year, changed rules in about half the states. But the change is so new that experts don’t have a good handle on the likely impact nationally.

The Hill is reporting a new poll: Poll shows majority of seniors are bewildered by new healthcare reform law

Huffington Post’s Sam Stein and Ryan Grim are reporting: Momentum For Senate Filibuster Reform Builds

Sam Stein is also reporting: Next DNC Attack Line: RNC Can’t Handle Its Own Budget, Let Alone Nation’s

More news in comments.

THANK YOU SAM SEDER FOR CONTRIBUTING TO BLUE ROOTS RADIO PANEL YA THINK? LAST NIGHT

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Ya Think? Monday, July 26, 2010.

by: toniD
July 26th, 2010

The Ya Think? panel will be back at it tonight.

Some Subjects we will discuss tonight:
Wikileaks
Mid Term Elections
GOP agenda
BP and the Gulf Gusher – Tony Hayward

and special guest Sam Seder

Post here or call in with your comments or a new subject. We have a new feature at Blueroots Radio, a call in number:

Call (614) 556-4486 or Skype bluerootsradio for live talk
My status

We’d love to hear from you.

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WIKILEAKS Docs are out – Afghan War Files

by: toniD
July 26th, 2010

The long awaited Wikileaks files are out with some damning information.

The Obama Admin and top Generals have already come out condemning them. The biggest news from these leaks which has been reported before is that the Pakistani Gov’t is aiding the insurgents. The leaks, 90,000 files, cover the time from 2004 to 2009. Here’s some excerpts from several news sources:

From the NY Times:

“The documents, made available by an organization called WikiLeaks, suggest that Pakistan, an ostensible ally of the United States, allows representatives of its spy service to meet directly with the Taliban in secret strategy sessions to organize networks of militant groups that fight against American soldiers in Afghanistan, and even hatch plots to assassinate Afghan leaders. “

The Daily Beast has The 7 Most Shocking Secrets From the WikiLeaks Files

Among the findings:

1) Pakistan’s spy service, according to revealed documents, is a major supporter of insurgents in Afghanistan, allowing its members to meet secretly with the Taliban, offering strategy advice, organizing groups to fight coalition troops, and plotting the assassinations of members of the Afghan government.

2) A top-secret group of American forces, nicknamed the “black” unit, is specially tasked with hunting down top Taliban leaders and either killing or capturing them on the spot—without a trial. The Obama administration has apparently increased the missions even though some have gone awry, killing civilians.

3) NATO troops are relying on remote-controlled Predator drones more and more heavily, controlling them from a base in Nevada and using them to kill an increasing number of Taliban targets.

4) The Taliban has access to heat-seeking missiles and has used them against American aircraft, a fact never before disclosed publicly. Many of the missiles aren’t successful, but Americans are forced into dangerous retrieval operations when the missiles crash, so that Taliban do not recover them.

5) Several documents detail the frustrating disappearance of money meant for humanitarian aid, such as the case of an orphanage erected with much fanfare and donations in Gardez. A year after its opening, American visitors reported that there we no orphans at the site, and that many had been called home for the holidays. (In Afghanistan, an orphan is defined as having no father, but many still have mothers.)

6) Civilian death tolls are rising consistently, with the Taliban conducting a successfull roadside bombing campaign. As of the writing of the report, one document cited 2,000 civilian deaths from roadside car bombs alone.

7) U.S. forces covered up a 2007 helicopter attack, according to the documents, claiming that Taliban brought down a coalition helicopter with conventional weaponry—when instead they used a missile. A U.S. official at the time said the attack, which killed seven soldiers, “had probably been brought down by a rocket-propelled grenade.”

And for those of you interested in reading the whole file, the Guardian, UK has reproduced full military logs behind more than 200 of the key events from the database – you can navigate around them. But if you want to download this data to play with it yourself, this is the place to come.

The Huffington Post has a Statement from Gen. James Jomes re the Leaks:

The United States strongly condemns the disclosure of classified information by individuals and organizations which could put the lives of Americans and our partners at risk, and threaten our national security. Wikileaks made no effort to contact us about these documents – the United States government learned from news organizations that these documents would be posted. These irresponsible leaks will not impact our ongoing commitment to deepen our partnerships with Afghanistan and Pakistan; to defeat our common enemies; and to support the aspirations of the Afghan and Pakistani people.

The documents posted by Wikileaks reportedly cover a period of time from January 2004 to December 2009. On December 1, 2009, President Obama announced a new strategy with a substantial increase in resources for Afghanistan, and increased focus on al Qaeda and Taliban safe-havens in Pakistan, precisely because of the grave situation that had developed over several years. This shift in strategy addressed challenges in Afghanistan that were the subject of an exhaustive policy review last fall. We know that serious challenges lie ahead, but if Afghanistan is permitted to slide backwards, we will again face a threat from violent extremist groups like al Qaeda who will have more space to plot and train. That is why we are now focused on breaking the Taliban’s momentum and building Afghan capacity so that the Afghan government can begin to assume responsibility for its future. The United States remains committed to a strong, stable, and prosperous Afghanistan.

Since 2009, the United States and Pakistan have deepened our important bilateral partnership. Counter-terrorism cooperation has led to significant blows against al Qaeda’s leadership. The Pakistani military has gone on the offensive in Swat and South Waziristan, at great cost to the Pakistani military and people. The United States and Pakistan have also commenced a Strategic Dialogue, which has expanded cooperation on issues ranging from security to economic development. Pakistan and Afghanistan have also improved their bilateral ties, most recently through the completion of a Transit-Trade Agreement. Yet the Pakistani government – and Pakistan’s military and intelligence services – must continue their strategic shift against insurgent groups. The balance must shift decisively against al Qaeda and its extremist allies. U.S. support for Pakistan will continue to be focused on building Pakistani capacity to root out violent extremist groups, while supporting the aspirations of the Pakistani people.

What I get from skimming this news is that the Pakistani Gov’t and the Afghan Gov’t are working against the US while taking our money and funneling it to the insurgents. Osama is either dead or living off the US funds somewhere and it’s a money pit for the US and other nations. Not to forget all the people that have lost their lives in that hell hole, both military and civilians. The only reason we are there now is because the Pakistani Gov’t has nuclear weapons and we don’t want the crazies in that area to acquire them.

Your comments and more news in comments.

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Sunday Summary

by: maggiesboy
July 25th, 2010

Minnesota wildflowers


Looks like your day would be better spent reviewing talks from Netroots Nation. cent suggested Building a Progressive Economic Vision.

Here’s the closing keynote with Al Franken and the panel discussion on Air America with Sam Seder, Laura Flanders, Nicole Sandler and the other guy (whose name escapes me) or check the conference archive (to be posted later), for now you can find the conference vids here.

Washington Journal: 7:30am – Matthew Lee, Associated Press, State Department Correspondent.  8:00am – Kweisi Mfume, Former President NAACP; Sophia Nelson, Political Commentator & Author; Leonard Steinhorn, Co-Author, “By the Color of Our Skin.”   9:30am – Raven Brooks, Netroots Nation, Executive Director

ABC’s This Week: Treasury Secretary Timothy Geithner.  Gov. Chris Christie (R-NJ).  Roundtable:Sam Donaldson, Cokie Roberts, Donna Brazile, Stephen Hayes.

CBS’ Face The Nation: Abigail Thernstrom, Vice Chair, U.S. Commission on Civil Rights. Michael Eric Dyson, Georgetown University. Cornel West, Princeton University. John Fund, Wall Street Journal Columnist. Michael Gerson, Washington Post Columnist.

Chris Matthews: Amy Walter The Hotline; Howard Fineman Newsweek; John Heilemann New York Magazine; Cynthia Tucker Atlanta Journal-Constitution.  Topics: Will African Americans Stick With Obama This Year?  Will This Year’s Elections Be an Historic Wave Year, and Is it Better for Obama to Lose Control of Congress?

CNN’s State of the Union: Gen. Michael Hayden on national intelligence.  FinReg with Mort Zuckerman. Christopher Edley Jr., Dean of University of California, Berkeley School of Law and past member of the Commission on Civil Rights,  and contributing editor to the Manhattan Institute City Journal and conservative commentator John McWhorter on race.

Fareed Zakaria – GPS: Afghanistan – U.S. Special Representative Richard Holbrooke; plus Richard Haass, Council on Foreign Relations; George Packer, New Yorker and Bret Stephens of the Wall Street Journal.  Then Harvard historian Niall Ferguson and Lord Robert Skidelsky: to spend or not to spend.  Plus oil drilling in the Niger Delta.

Fox News Sunday: Newt Gingrich and Howard Dean on the 2010 Midterms.  Plus, Rev. Jesse Jackson.  Fox News AllStars: Brit Hume, Mara Liasson, Bill Kristol, Juan Williams.

NBC’s Meet The Press: Treasury Secretary Tim Geithner. Roundtable: The New York Times’ David Brooks, The Washington Post’s E.J. Dionne, Former Obama White House Communications DirectorAnita Dunn, National Urban League President Marc Morial, CNBC’s Rick Santelli.

Enjoy your day off boss and h/t Elliot @ FDL for the table of talking head mumbo jumbo

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Saturday News Wrap Up

by: toniD
July 24th, 2010

Obama takes on the GOP in his Saturday Radio and Web Address and takes on Boehner. From ABC News:

Calling House Minority Leader John Boehner’s job creation plans “surprisingly short and sadly familiar,” President Obama blasted Republicans for economic plans that he said will kill jobs rather than create them.

“These are not new ideas,” Obama said in his weekly address, “They are the same policies that led us into this recession. They will not create jobs, they will kill them. They will not reduce our deficit, they will add $1 trillion to our deficit. They will take us backward at a time when we need to keep America moving forward.”

With the new HCR Insurance Companies are worried about how they will profit: Insurers Lobby to Shape Critical Rule in Health Law

Health insurers must spend at least 80 cents of every dollar they receive in premiums on the welfare of patients, but how that is defined will be critical to insurers’ profits.

Banks are still being closed and at half year, a Milestone was reached:
Bleak milestone: Bank failures this year surpass 100

U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, …

North Korea is really bothered by the Joint US/South Korea Military Exercises: NKorea vows nuclear response to US-SKorea drills

North Korea vowed Saturday to respond with “powerful nuclear deterrence” to joint U.S. and South Korean military exercises poised to begin this weekend, saying the drills amount to a provocation that would prompt “retaliatory sacred war.”

Iran is beating it’s chest again and threatening….Iran studies building nuclear fusion reactor

Iran’s nuclear agency began studies Saturday to build an experimental nuclear fusion reactor, something that has yet to be achieved by any nation.

The UK is still saying that BP wasn’t involved in the decision to release the Lokerbie Bomber: UK reiterates BP not involved in Lockerbie release

In a letter to U.S. officials, British Foreign Secretary William Hague calls the Scottish decision to release the man convicted of the Lockerbie bombing “wrong and misguided,” but says there’s no evidence Abdel Baset al-Megrahi was returned to Libya to facilitate oil deals for BP.

Tropical Storm Bonnie fell apart. It wasn’t as strong as it could have been, thank goodness so….Ships prepare to return to spill as storm weakens

Ships prepared to move back to the site of BP’s broken oil well Saturday as the remnants of a weakening Tropical Storm Bonnie rolled into the Gulf of Mexico.

More news in comments

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Welcome Chubby Bubba!

by: 60th Street
July 24th, 2010

Don't mess with the barh Barkley!


Just saw a registration for the world renown Folksy Folklorist Mr. C. Bubba!

It’s a red letter day on BlueRootsRadio.

We may have to do some kind of special later.

Please note Mr. Bubba your first post had to be moderated. It’s how we block da bots.

Posted in Peanut Butter | 355 Comments »

Health Insurance Huge Surpluses and Possible Public Option Comeback

by: toniD
July 23rd, 2010

Health Insurance companies have been raising rates since Health Care Reform, even the non-profits causing a huge surplus. Is this surplus the non-profits are holding too big? From the Washington Post:

Health plans may be raising premiums despite outsize surpluses, watchdog finds

Nonprofit health insurers may be setting aside unnecessarily large surpluses even as some of them continue to raise premiums, according to an analysis by a consumer rights group.

The report released Thursday by Consumers Union, the nonprofit publisher of Consumer Reports, found that seven of 10 Blue Cross Blue Shield affiliates examined had amassed surpluses more than three times the level regulators deemed necessary for them to remain solvent.

For instance at the close of 2009, Blue Cross Blue Shield of Arizona had a surplus of $717 billion, more than seven times the regulatory minimum. The same year the company raised premiums for its individual market customers between 8.8 percent and 18.4 percent.

Similarly, Regence Blue Shield of Oregon had about 3.6 times the regulatory minimum surplus, yet it raised rates on some individual policies an average of 25.3 percent in April 2009 and 16 percent in April of this year, the study found.

An insurance plan’s surplus is essentially the revenue it raises from premiums and investments minus expenses such as the cost of paying medical claims. Companies must maintain enough surplus to protect them from unexpected expenses and losses. But how much surplus is too much is a matter of some debate.

While most states require plans to maintain a minimum level of surplus, only a handful, including Maryland, also monitor whether a nonprofit plan’s surplus is “excessive” and if so, require the company to refund its customers.

For-profit plans are less likely to accumulate surpluses substantially above the required minimum because they have an incentive to give the money back to shareholders as profit, said Sondra Roberto, a staff attorney at Consumer Reports who co-wrote the report.

She worries that such profits may come at the expense of consumers. But Roberto said the prospect that nonprofit plans may be running unwarranted surpluses was even more troubling given their mandate as charitable organizations.  Read More at Link

So the non profits are sitting on money, too much for their needs at the time, and the For Profits are using increases to pay more to stockholders and, of course, to their CEOs while the people that are making less at their jobs and the unemployed are struggling to pay for insurance. Have you seen the cost of COBRA lately?

Meanwhile, in the House…..

Woolsey to introduce ‘robust public option’ bill

By Sahil Kapur
Thursday, July 22nd, 2010 — 8:35 am

WASHINGTON – What, did you think the fight for health care reform was over?

Rep. Lynn Woolsey (D-CA), co-chair of the progressive caucus, is making good on her promise to continue pushing for a public health insurance option after the enactment of sweeping reform legislation.

On Thursday afternoon, the Northern California congresswoman will announce the introduction of a bill offering consumers a choice between private plans and a “robust” public plan in the health insurance exchanges set up by the law.

“The robust public option offers lower-cost competition to private insurance companies,” Woolsey told Raw Story. “This will make insurance more affordable for those who do not have it and keep insurance affordable for those who do. We are introducing the public option now so is will be available as a ready-made off set or deficit reducer in this or the next Congress.”

Read More at link

And Ezra Klein report

CBO looks at another public plan proposal:

“CBO estimates that the public plan’s premiums would be 5 percent to 7 percent lower, on average, than the premiums of private plans offered in the exchanges…roughly one-third of the people obtaining coverage through the insurance exchanges would enroll in the public plan…CBO and the staff of the Joint Committee on Taxation (JCT) estimate that the proposal would reduce federal budget deficits through 2019 by about $53 billion.

This would be great if it were allowed to pass in Congress. We know there won’t be any help from the GOP because it seems they want to repeal HCR altogether. We can only hope they fail!

Is it too much to ask for Medicare for all?

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What’s Happening in Washington DC

by: toniD
July 22nd, 2010

President Obama signed the Financial Reform Bill yesterday, in case you missed it with the dust up about Shirley Sherrod. The Irony of where he signed this bill into law is that the signing was held:

Inside a building named after a Republican president (Ronald Reagan) who championed deregulation and praised the “magic of the marketplace,” the Democratic president signed into law the most ambitious overhaul of financial regulation in generations, saying he was acting to protect ordinary consumers and to “rein in the abuse and excess” on Wall Street that pushed the U.S. economy to the brink of collapse.

Not everyone liked this bill but for different reasons. The Liberals didn’t think it went far enough to protect the people, the Republicans and the banks and financials thought it went too far. Here’s a synopsis of what the bill covers:

The law closely resembles the blueprint unveiled by the administration in June 2009. It establishes an independent consumer bureau within the Federal Reserve to protect borrowers against abuses in mortgage, credit-card and some other types of lending. It grants the government new authority to seize and wind down large, troubled financial firms — such as the failed investment bank Lehman Brothers — and sets up a council of federal regulators to monitor threats to the financial system. It mandates oversight of the vast market for derivatives — complex financial instruments that helped fuel the crisis — and gives shareholders more say on how corporate executives are paid.

The Senate finally passed a bill to extend Unemployment Benefits through November, now it goes back to the House before it goes to the President. But Politico is saying:

But with victory in hand, Democrats and the White House were left with the realization that their biggest new stimulus program this summer may be just that — unemployment benefits

Since the GOP lost the fight on Unemployment Benefits, their new obstruction is to Small Business. From the NY Times:

Senator Mary L. Landrieu, Democrat of Louisiana and chairwoman of the small-business committee, who is a main author of the legislation, said the Senate Republican leader, Mitch McConnell of Kentucky, seemed intent on denying Mr. Obama and the Democrats a chance to pump up the economy ahead of the midterm elections.

“I think Senator McConnell knows and believes this bill could actually create millions of jobs and doesn’t want to give the president and Democrats credit for doing what we do, which is standing up for the middle class,” Ms. Landrieu said.

“If Democrats don’t stand for small business, I don’t know what we stand for,” she added. “I don’t want to go into this election standing for Wall Street and big business.”

The main point of disagreement is the centerpiece of the legislation: a proposed $30 billion lending program that would make credit available to small businesses through local banks. Some Republicans have decried the proposal as a mini “bailout” and said they would vote against it.

It looks like the Party of NO will continue to obstruct at least through the elections in November in hopes they can take over the House and possible the Senate. It remains to be seen if the Dems will fight hard and it also remains to be seen of the people of this Nation will vote to change back to Republican lead. If that happens we’re in for a tough ride.

What’s Happening with the Oil Spill? Storm Coming!

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