Archive for December 4th, 2009

We’re close to winning the new rules of the road for the big banks and Wall Street that will stop them from driving our economy off another cliff. But first we have to beat back the attempts to kill the hard-fought commonsense reforms we’ve brought this far.

We’re going to war with the big banks and their lobbyists next week. The financial reform package passed by Rep. Barney Frank’s (D-Mass.) committee during the past several months of consideration, debate and votes will finally be voted on by the entire House of Representatives. This bill contains much of what we’ve advocated to rein in greed and risk-taking on Wall Street and put the safety and security of Main Street first.

But you can be sure that the big banks and Wall Street are pulling every trick in the book to try to prevent the passage of these significant reforms.

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Is it strange that an economist at the Office of Management and Budget would attack the cost of a new clean air rule? Not when you consider the background of the economist, Randall Lutter, who is assigned to OMB from the Food and Drug Administration.

According to emails obtained by the Washington Post, statements from Lutter such as: “Are these really instances of zero-cost emissions reductions, or are they instead instances of emissions reductions that should already be in the baseline?” provide agencies like EPA cover in weakening regulations that protect the public.

But before Lutter was at FDA, he was a resident scholar at the American Enterprise Institute, which famously offered scientists $10,000 to undermine the Intergovernmental Panel on Climate Change report in 2007. The AEI has taken aim at EPA’s role in combating climate change, a recent post on AEI’s Enterprise blog compared EPA Administrator Lisa Jackson to Dirty Harry: “You can just see Jackson standing there with a .44 magnum in her hand, and a steely glint in her eye, telling industry

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