Word: nationalization
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...details of the government's role in keeping the lights on at what was once the nation's largest bank will again be on display on Thursday. For the first time, Citi's CEO will testify before the Congressional Oversight Panel (COP), set up by Congress to monitor the government's bailout of the financial system. Elizabeth Warren, a Harvard professor and longtime critic of the banking industry, heads the COP. Also testifying before the panel will be Herb Allison, who runs the Treasury Department's Troubled Asset Relief Program (TARP), the main vehicle the government has used to assist...
...estimate of cost is well above previous calculations of the impact of food-safety problems, and the new study suggests that foodborne illness will continue to take an increasing toll on public health if the nation's frayed food-safety net is not repaired. President Barack Obama called for new food-safety regulations a year ago, and the House of Representatives passed a bill to overhaul the system last July. The onus now is on the Senate, which is still waiting to act. "This study underlines how important this battle is," says Jim O'Hara, director of the Produce Safety...
...such as the salmonella outbreak that led to a massive recall of peanut products beginning in January 2009 - food safety rarely gets the attention it deserves. That's partially because the food-safety system in the U.S. is impenetrably complex; some 15 federal agencies are responsible for keeping the nation's food supply safe, which means that oversight in many cases falls through the gaps between the FDA, CDC and USDA. The USDA, for instance, is responsible for the safety of meat and poultry; the FDA handles other cases of food contamination; and the CDC tracks human illness in general...
...rules-averse Florida didn't already have some of the nation's most dangerous drivers - more pedestrians are killed there each year than in any other state - now it's dealing with the rising popularity of Mad Max-like high-speed motorcycles. The rogue bikes are a particular bane in South Florida, where the weather is warm year-round and many of the roads are so flat and straightaway that they can easily be turned into a racetrack. Florida motorcycle crashes have been up in recent years - from 8,990 in 2006 to 9,618 in 2008, when state legislators...
...Italians got early on by putting politics aside in order to cut energy deals with Russia," says Fabio Liberti, an expert on Russia and European affairs at the Institute of International and Strategic Relations in Paris. "Sarkozy also knows Europe's defense industry is still largely divided along national lines and appears destined for huge restructuring and consolidation. The nation with the biggest contracts out will get the biggest slice of that consolidated European pie - which is why neither the Mistral deal nor Russia as a military market should be underestimated...