The House oversight committee is holding a hearing now on the collapse of Lehman Bros. and the financial crisis generally. This hearing-- and four others-- will
The House oversight committee is holding a hearing now on the collapse of Lehman Bros. and the financial crisis generally. This hearing– and four others– will likely provide hints of how Congress, post-bailout bill, will try to revamp how the government polices Wall Street.
The committee has produced internal Lehman Bros. documents that show Lehman CEO Richard Fuld resisted claims to limit his compensation and rejected any responsibility for the investment bank’s bankruptcy. Fuld will testify in an hour, and it could get ugly. Rep. Elijah Cumming (D-Md.) wondered how “he sleeps at night”.
But for now, House Republicans are taking turns blasting Rep. Henry Waxman, (D-Calif.) the committee chairman, for not scheduling a hearing on Fannie Mae and Freddie Mac. The committee Republicans contend that Democrats had blind faith in Fannie’s and Freddie’s plan to help low- and middle-income homeowners and ignored the government sponsored enterprises’ risky purchases of subprime mortgages.
Rep. Tom Davis (R-Va.) and Rep. John Mica (R-Fl.) keep circling back to how the Clinton administration built up Fannie and Freddie. The shady accounting practices of former Fannie CEO Franklin Raines, a Clinton appointee, are also fair game.
The Republican seem off the mark. They keep hammering Raines, who resigned in 2004. But the riskiest purchases by Fannie and Freddie happened in 2005-2007.
Democratic and Republican committee members might soon unite in bashing Wall Street’s current symbol of greed, Fuld. But they look far apart in agreeing on how the government helped cause the crisis.
EPA Administrator Addresses Concerns About Oil Spill Waste Management
At a hearing of the national oil spill commission today, Environmental Protection Agency Administrator Lisa Jackson addressed concerns about waste disposal from
EPA administrator defends allowing Florida to write its own water pollution rules
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E-Verify Mandate Begins Today
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EPA administrator fires back at critics in op-ed
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EPA administrator says federal nutrient criteria is a ‘myth’
In testimony given late last week, EPA Administrator Lisa Jackson said that false accusations about her agency’s numeric nutrient criteria to govern Florida waterways are proving to be a detriment to their implementation. # Testifying before the House Agriculture Committee, Jackson said her agency’s work was often “mischaracterized” and addressed several myths surrounding its work
EPA and California Near Deal on Fuel Efficiency Standards
Two weeks ago, the Obama administration raised fuel efficiency standards by an average of two miles per gallon -- a modest change that disappointed some
EPA: BP Has 24 Hours to Find a Less Toxic Chemical Dispersant
Thought the massive quantities of oil pouring into the Gulf of Mexico were the only major threat to the country’s southeast coastal waters right now? Think
EPA announces hold on nutrient standards if Florida can come up with own criteria
The EPA announced today that it is now prepared to withdraw a portion of its proposed numeric nutrient criteria (a set of standards governing water pollution in inland waters) and delay the portion related to estuarine waters, to allow the state Department of Environmental Protection to develop its own criteria. # From a statement released by the EPA earlier today: # EPA recognizes that states have the primary role in establishing and implementing water quality standards for their waters. Therefore, EPA is prepared to withdraw the federal inland standards and delay the estuarine standards if FDEP adopts, and EPA approves, their own protective and scientifically sound numeric standards
EPA Chief Overruled Calif. Waiver, Too
The Washington Post reported in March that EPA Administrator Stephen Johnson was overruled by the White House in setting an ozone standard. Now, documents