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...President Obama and many Democrats have insisted on one. Republicans don't want to hand Obama a victory; even before they lost their supermajority, Democrats didn't want to repeat the ugly get-to-60 process that squeezed health care reform through the Senate. Democrats are ideologically inclined to support strict regulations; Republicans, not so much - one reason none of them voted for the reform bill that passed the House last year...

Author: /time Magazine | Title: Why the Dems Need to Hang Tough on Financial Reform | 3/13/2010 | See Source »

...only hope for consensus is a bill that takes an unmistakably tough line on Wall Street, which could end up striking a political chord and persuading recalcitrant Republicans and unenthusiastic Democrats that they have to support it if they don't want to look like Wall Street apologists. Again, this is not a likely scenario; the health care experience suggests that even preposterous attacks on complex legislation can provide cover for opponents, and Republicans are already starting to portray tougher financial rules as a new Wall Street bailout. But this is at least a plausible scenario; a Harris poll released...

Author: /time Magazine | Title: Why the Dems Need to Hang Tough on Financial Reform | 3/13/2010 | See Source »

...most credible scenario for an irresistible groundswell of public support would have to include a tough consumer agency that would regulate financial products the way the FDA regulates food and drugs, along the lines proposed by bailout watchdog Elizabeth Warren. It wouldn't have to be a stand-alone agency; the FDA isn't, and nobody thinks of the Office of the Comptroller of the Currency as a Treasury agency just because its employee emails end with treas.gov. But it would have to be truly independent, with its own budget, its own presidentially-appointed director, and preferably its own address...

Author: /time Magazine | Title: Why the Dems Need to Hang Tough on Financial Reform | 3/13/2010 | See Source »

Geldof's spirited denials (he called the BBC a "rotten old cherry" and said there was not a "shred" of evidence to support the claim) drew support from NGOs that worked in Ethiopia at the time, along with those who remember the miseries of the famine which killed hundreds of thousands of people, as well as the gumption Geldof showed by pulling together rock stars from the U.S and Britain to help feed the victims. In the days since, however, Geldof has raised eyebrows for his apparent refusal to acknowledge the possibility that money may have been skimmed...

Author: /time Magazine | Title: When Humanitarian Aid Winds Up in the Wrong Hands | 3/13/2010 | See Source »

...more expensive, so companies like Massey are reluctant to alter current practices. Going forward, however, Massey has pledged to monitor water quality; periodically it assembles a 30-member environmental review arm to do so. The EPA is also keeping tabs on mining's impact, while Obama has pledged to support the development of clean energy. Activists like Bonds say attention from the top levels of the current administration helps them continue fighting at this crucial time. But for the former residents of Lindytown, W. Va., it may just be too little too late...

Author: /time Magazine | Title: In West Virginia, a Battle Over Mountaintop Mining | 3/12/2010 | See Source »

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