White House To Rein In ‘Too Big To Fail’ Institutions
The New York Times reports that the Obama administration is set to bring out new proposals for dealing with “too big to fail” institutions, with increased regulations for preventing failure: “The White House plan as outlined so far would already make it much more costly to be a large financial company whose failure would put the financial system and the economy at risk. It would force such institutions to hold more money in reserve and make it harder for them to borrow too heavily against their assets. Setting up the equivalent of living wills for corporations, that plan would require that they come up with their own procedure to be disentangled in the event of a crisis, a plan that administration officials say ought to be made public in advance.”
Obama’s Day Ahead
President Obama will meet at 11:30 a.m. ET with his national security team on Afghanistan and Pakistan. He will depart from the White House at 12:45 p.m. ET, arriving at 2:45 p.m. ET in Jacksonville, Florida. He will deliver remarks at 3:15 p.m. ET to servicemen and women, and will meet at 4 p.m. ET, with personnel from the Navy and Marine Corps. He will depart from Jacksonville at 4:25 p.m. ET, arriving at 5:35 p.m. ET in Miami. He will deliver remarks at a 7:25 DSCC/DCCC fundraising reception, and at a 7:50 p.m. ET DSCC/DCCC fundraising dinner.
Biden’s Day Ahead
Vice President Bide is traveling to Ohio today. He will attend a morning event in Columbus for Rep. Mary Jo Kilroy, and will travel to to Cleveland afterward. At 11:30 a.m. ET, he will join the President’s national security team meeting on Afghanistan and Pakistan, via videoconference. At 2 p.m. ET, he will hold an event at Cleveland Hopkins International Airport, to promote the stimulus program. He will return to Washington in the late afternoon. At 5:30 p.m. ET, he will attend the National Law Enforcement Officers Memorial Fund ceremony at the Capitol, where he will receive the NLEOMF’s Distinguished Service Award.
WaPo: If You Build A Mandate, Will They Come?
The Washington Post reports that some questions remain about the universal adoption of health insurance, even if an individual mandate gets passed, and will depend largely on outreach campaigns and ease of access. “When the choice itself is complicated, it can deter people from making choices,” said William J. Congdon of the Brookings Institution. “The small hassles associated with taking up programs — driving to an office, filling out a form — have a disproportionate effect in discouraging people.”
Lieberman: I’m Worried About The Deficit, Not Connecticut Insurance Companies
Sen. Joe Lieberman (ID-CT) told The Hill that his concerns about health care reform are not based on his home state’s insurance companies, but on the budget deficit. “Insurers aren’t my biggest concern — I sued them once when I was attorney general, and I’m not afraid to end anti-trust exemptions,” said Lieberman. “I am really worried about what this could do to the deficit.”
GOP Slowing Down The Senate With Cloture Votes
Roll Call reports that Senate Republicans have done a good job of forcing Harry Reid to hold cloture votes in order to get anything done — which even if they are successful, require 30 hours of debate before the cloture vote and 30 hours after. “We shouldn’t be having these cloture votes,” said a senior Senate Democratic aide.
Sebelius: Not Too Late For Swine Flu Vaccine — Because Another Wave Could Come
Secretary of Health and Human Services Kathleen Sebelius said that despite delays in getting the H1N1 vaccine mass-produced, and projections that the virus will peak at the end of the this month, the vaccines could still be needed: “I don’t think it’s too late … What we saw in 1950s (flu pandemic) was that there was a big outbreak in fall and then a new wave in the spring.”
