Thursday, July 15, 2010

Washington once again caved to Wall Street.

The US Senate voted Thursday to send President Barack Obama the most sweeping rewrite of Wall Street rules since the Great Depression of the 1930s, handing him a historic political win. The bill passed 60-39. However, a top Democratic senator who voted "no" is arguing that "Washington once again caved to Wall Street." Lawmakers voted 60-38 to end a year of often bitter partisan debate on the 2,300-page measure and set the stage for a final passage ballot expected shortly after a last procedural test at 2:00 pm. (1800 GMT).Link

Lets hope this is true.

BP engineers Thursday stopped oil flowing into the Gulf of Mexico for the first time since April as they shut all valves on a new cap placed on top of a fractured wellhead, a BP official said. "It is good to see no oil going into the Gulf of Mexico," said senior vice president Kent Wells, but he cautioned: "We are just starting the test." He said the oil flow stopped as the last of three valves on a huge capping stack was shut at around 2:25 (1925 GMT) Thursday, but engineers were keeping a close eye on the operation to see whether any oil began leaking again.Link