To the Point
Stress Tests: Economics and Politics
So-called "stress tests" on nineteen big banks have postponed decisions that could be politically unpopular for the Obama Administration. Now that the results are due, we hear what the consequences might be. Also, Secretary Clinton goes back to Capitol Hill, and transportation produces almost a quarter of all greenhouse gases. Will garbage help to reduce global warming?
So-called "stress tests" on nineteen big banks have postponed decisions that could be politically unpopular for the Obama Administration. Now that the results are due, we hear what the consequences might be. Also, Secretary Clinton returns to Capitol Hill, and California is at it again with new regulations on global warming. This time, the result could be fuel made from garbage.
Banner image: Treasury Secretary Geithner Testifies before the Congressional TARP Oversight Panel. Photo: Win McNamee/Getty Images
In this episode
3 storiesSecretary Clinton Back on Capitol Hill
The military Taliban have seized control of another district of Pakistan, just 70 miles from Islamabad, the capital city. Secretary of State Hillary Clinton told Congress today that more people ought to be worried. Clinton's testimony was her first before Congress since she was confirmed in January.
Read the story8 minBanks Still Pose a Significant Headache for Obama
The Obama Administration does not want to nationalize banks that appear to be failing, and Congress is not likely to come up with more bailout money. Yesterday, Treasury Secretary Tim Geithner brushed aside concerns , saying that there's enough bank bailout money left so he won't have to ask Congress for more.
Read the story34 minCalifornia Green Fuel Standards Lead the Way
Corn-based ethanol plants are closing down, but the race to produce fuel that doesn't produce greenhouse gases is still on. This week, California's Air Resources Board is expected to enact the world's first regulation to reduce the carbon footprint of fuel.
Read the story9 min