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Joe Biden - John Thune - Bank failures, bailouts divide Congress on next steps - fox29.com - Usa - Washington - state Ohio - city Washington - state South Dakota
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Bank failures, bailouts divide Congress on next steps
WASHINGTON (AP) - Bills were filed, hearings were planned and blame was cast as Congress reacted this past week to the abrupt failure of two banks. A look at what lawmakers are saying and planning as the fallout continues from the collapse of Silicon Valley Bank and Signature Bank.While President Joe Biden called Monday on Congress to strengthen the rules for banks to prevent future failures, lawmakers are divided on whether any legislation is needed.Some congressional leaders are skeptical that a closely divided Congress will act at all."There’s people who are going to choose bills, but I cannot imagine that, with the hold banks have on Republican members of Congress, that we can pass anything significant," said Sen. Sherrod Brown, D-Ohio, chairman of the Senate Banking, Housing and Urban Affairs Committee.Republicans say the laws already in place were sufficient to prevent the bank failures, if only regulators had done their job by spotting obvious problems and directing the banks to take steps that would reduce their risk."If there are ideas out there that people have, you know, at some point, we would be willing to entertain those, but I think it would be premature to start talking about solutions before we fully define the problem and ultimately get answers from the regulators about why they were asleep at the job," said Sen.
Ohio train derailment: Should New Englanders be worried about air quality? - fox29.com - Usa - Canada - state Ohio - Palestine - county Atlantic - state Maine
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Ohio train derailment: Should New Englanders be worried about air quality?
the disastrous train derailment in East Palestine, Ohio, officials in Maine have been collecting data to see what impacts — if any — the plume of smoke and chemicals will have on air quality in the New England area. Wind patterns in and around New England often travel from west to east and many states are located downwind of Ohio, which usually means whatever pollutants Ohio gets, most of New England could eventually receive as well. "We have been often referred to, euphemistically, as the exhaust pipe for the nation because the way typical weather patterns move across the country, and if there’s any kind of pollution event that occurs elsewhere, it eventually finds its way to the East Coast, and more often than not, because of the way weather systems move in this area of the country, we get the last of it before it exits into the Maritimes of Canada or the Atlantic Ocean," said Andy Johnson, director of the air quality assessment division for the Maine Department of Environmental Protection.Smoke and flames rise after the train derailment in East Palestine, Ohio, United States.CREDIT: US Environmental Protection Agency / Handout/Anadolu Agency via Getty Images RELATED: What we know about the Ohio train derailmentBut will a train derailment and subsequent chemical smoke from hundreds of miles away have the capability of reaching as far east as Maine? According to Johnson, it’s not very likely. "When the train derailed, and the cars were on fire, and then they did intentionally vent some of the tanks to prevent explosions in the area, those emissions that got released into the air at that time, would have reached here in a day, two at the most," Johnson said.
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