Friday, June 25, 2010

Financial Reform? Hah. Drilling Moratorium? Double Hah.

An agreement on financial "reform" is reached in Congress - mainly they agree that they should pass something that the banks don't dislike too much.

WaPo "Financial overhaul leaves Wall Street mainly intact. Bill does not break up the nation’s largest firms; ”Volcker rule” on derivatives was softened in response to lobbying from banks."

For a complete breakdown/takedown of the bill, read Barry

Oh, and BP has found an innovative way to drill underwater AND reach artic oil - in one fell swoop: Build an island and drill sideways.

Weak.

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