Good News!!! Fed Must Make Public Reports on Emergency Bank Loans

According to Bloomberg:

The Federal Reserve must make records about emergency lending to financial institutions public within five days because it failed to convince a judge the documents should be exempt from the Freedom of Information Act.

Maybe we will get a little transparency now. Maybe we will be able to see which banksters have gotten billions of dollars of our money. Thank you Bloomberg!!!! :)

Read whole story here.

Looks Like The Cap and Trade Bill Going Down In Flames

According to Daniel Whitten and Simon Lomax in Bloomberg today:

The U.S. Senate should abandon efforts to pass legislation curbing greenhouse-gas emissions this year and concentrate on a narrower bill to require use of renewable energy, four Democratic lawmakers say.

Read the whole story here.

For my thoughts on the cap and trade bill read here.

Cap and Trade Fails To Pass In Australia

According to Bloomberg:

Australia’s Senate rejected the government’s climate-change legislation, forcing Prime Minister Kevin Rudd to amend the bill or call an early election.

Senators voted 42 to 30 against the law, which included plans for a carbon trading system similar to one used in Europe. Australia, the world’s biggest coal exporter, was proposing to reduce greenhouse gases by between 5 percent and 15 percent of 2000 levels in the next decade.

Australia is the only developed country to my knowledge has not gone into recession during this economic crisis. Read about Australia's good economy here.