Good morning, BW readers. I haven't given you much to read lately. Let's catch up for a few with your favorite AM beverage.
Frankly, I've been working a lot, still trying to do things around the house, taking care of the pooties. One of them is Benny, whom this site is named after. He's funny and just likes to either sleep, eat, or have fun.
“I am pleased that the final bill includes the Merkley-Levin amendment that will ban high-risk trading inside the banks and put an end to conflicts of interest, where giants like Goldman Sachs bet against the very securities they were selling to their customers. This provision will encourage banks to return to the days where their main focus was lending. I can’t thank Senator Carl Levin enough for his tireless work to ensure that our banks won’t engage in high-risk trading and put our entire financial system at risk.
“In addition, I’m pleased that the bill includes provisions I championed to end some of the most egregious mortgage practices that led to the housing crisis and cost millions of families their homes. The bill will ban steering payments, liar loans, and prepayment penalties and give Americans the transparency they deserve when purchasing their own home. It will also create a Consumer Financial Protection Bureau dedicated to protecting consumers from financial tricks and traps, such as unfair overdraft fees and exploding interest rates. "
Senator Merkley adds though:
“Now, this bill will not solve every problem in our financial system, and from my perspective, could be stronger in significant ways. Regulators have been given an enormous amount of responsibility to implement the bill as intended. In order to ensure that they hold up their end of the bargain, Congress needs to conduct vigorous oversight of government regulators and our financial markets. "
I agree. So why is Treasury Secretary Geithner wanting to throw Elizabeth Warren under the bus in making her the Chief Oversight of Consumer Credit Protection?
If you want to see what else got left out of the bill, read Chris Bowers' rant at Open Left, as he was one of the New Progressive Fellows who worked on the bill.
And finally, the answer to Senator Inhofe's rhetorical question to Al Gore in at an Environmental hearing in 2007, "where is global warming when you need it?" Answer: when you don't need it. The News-Gazette (my hometown newspaper in Central Illinois) published a report in which U of Illinois scientists have been running models on greenhouse gas emissions and their effects on weather in the Midwest. Chicago could have a month or more of 100+ temp in the near future if we don't cut down on fossil fuel usage.
Time to check the leader board at the Open Championship, which is being played at St. Andrews, Scotland, and to run errands, amongst them, two weeks of recycling!
Happy Saturday, all.
Update: in taking in some recycling this morning, the Recycle Center was gone--or at least I thought it was until I saw a relocation sign on the gate. When I drove around the corner to it, I realized that it became a real drop-off place. The other place was always crowded, with sometimes having to wait to park, and often it took awhile to drive out.
This new facility can be driven in, and it's easier to bring your stuff closer to the bins. And for a change, there was space in each bin. Here's a photo I took with my smartphone: