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...executive ban on offshore oil drilling in Bristol Bay in the southeastern waters of the Bering Sea, potentially opening up what's been called America's "fish basket" to the fossil fuels industry. Although the Obama Administration has slowed the process, it hasn't stopped it - and Alaska's Republican Gov. Sarah Palin would be happy to "drill, baby, drill," especially as the declining price of oil diminishes state revenues. (Read "Drilling for Oil Way, Way Offshore...

Author: /time Magazine | Title: Remembering the Lessons of the Exxon Valdez | 3/24/2009 | See Source »

...that falls just after the Vernal Equinox. Among the guests who did show up, the best comments on Sunday came from Sen. Judd Gregg of New Hampshire who had agreed to be the Administration's Commerce Secretary and then pulled out at the last moment. Gregg remains the senior Republican on the Senate Budget Committee...

Author: /time Magazine | Title: Senator Gregg and the Princes of Anarchy | 3/23/2009 | See Source »

...There are still many hurdles the various bills must overcome, and even some Senators have suggested the legislation is more about scaring AIG employees into giving the bonuses back. Senator Judd Gregg, a New Hampshire Republican, Wednesday warned that the bills to take back the bonuses through a one-time special tax could face years of challenges in courts for violating attainder laws, which bar Congress from targeting individuals or small groups. "Of course" the government must get back the bonuses, but we've got to do it legally," Gregg told reporters...

Author: /time Magazine | Title: The AIG Backlash: Has Congress Flipped Out? | 3/20/2009 | See Source »

...Likewise, Democrats and Republicans have concerns about the constitutionality of the Judiciary Committee's bill, which would authorize the Justice Department to sue for the return of bonuses given to employees of companies that have received more than $10 billion from the government. The legislation, if passed, would also allow the Attorney General to restrict future payments to 10 times the average non-management wages at companies receiving TARP funds. "Congress has let expediency override common sense," said Representative Lamar Smith, the top Judiciary Committee Republican. "Congress already has learned the hard way the unintended consequences of rushing to legislate...

Author: /time Magazine | Title: The AIG Backlash: Has Congress Flipped Out? | 3/20/2009 | See Source »

...House Speaker Nancy Pelosi has said she'd like to see the matter resolved by the end of next week, though Senate Republicans already blocked a vote on Baucus's bill this week. "Other senators need time to consider the bill," Jon Kyl, the third-ranking Republican in the Senate, said on the Senate floor. "The public ought to have a right to review this legislation to make sure it doesn't have any additional loopholes or unintended consequences...

Author: /time Magazine | Title: The AIG Backlash: Has Congress Flipped Out? | 3/20/2009 | See Source »

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