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...Energy is putting taxpayers on the hook for bailing out costly and dangerous nuclear-reactor projects when the loans used to finance those projects default," said Ben Schreiber, the climate- and energy-tax analyst for the Friends of the Earth, in a statement. "This is great news for Wall Street but a bad deal for Main Street...
...with construction delays, and the Congressional Budget Office (CBO) estimates that the risk of default on a new nuclear plant is higher than 50%. In a conference call with reporters, Energy Secretary Steven Chu seemed unaware of the CBO report, although he downplayed the fiscal risk. "Even Wall Street traders say these reactors are too risky to invest in," said Schreiber...
...pictures of TIME's Wall Street covers...
...energy bills, showing that congressional Democrats are as susceptible to the influence of money as Republicans. The President now understands. After the Massachusetts election, he went over the heads of the system to ask for help in getting action on banking reform. Now it's us vs. Wall Street in a fight to win over our Representatives...
...pictures of TIME's Wall Street covers...