NRC Vogtle Reactor Approval Should Blow Lid Off Nuclear Finance Scam

By: Gregg Levine Friday February 10, 2012 3:22 pm

Political activists were rightfully outraged when the Bush administration fought tooth-and-nail to keep the minutes of Vice President Dick Cheney’s energy task force secret. Now, aside from the good people at SACE, who else is working to uncloak an equally secretive–and equally offensive–Obama energy deal?

Nuclear Regulatory Commission Ignores Fukushima, Green-Lights First New Reactors in 34 Years

By: Gregg Levine Thursday February 9, 2012 5:46 pm

The Nuclear Regulatory Commission has granted a construction and operating license to Southern Co. for two reactors to be added to its Plant Vogtle facility in Georgia. The OK is the first granted by the US regulator since 1978.

The Party Line – September 30, 2011: No Will, No Way: Nuclear Problems Persist, But US Fails to Seize Fukushima Moment

By: Gregg Levine Friday September 30, 2011 4:55 pm

As September drew to a close, residents of southwest Michigan found themselves taking in a little extra tritium, thanks to their daily habit of breathing. The tritium was courtesy of the 40-year-old Palisades Nuclear Generating Station in Covert Township, which suffered its third “event” (as they are politely called) in less than two months, and was forced to vent an indeterminate amount of radioactive steam.

The reactor at Palisades was forced to scram after an accident caused an electrical arc in a transformer in the DC system that powers “indications and controls“–also known as monitoring devices, meters and safety valves.

While it is nice to see rectors shut themselves down when a vital system goes offline, remember that “turning off” a fission reactor is not like flicking a light switch. Shutting down a reactor is a process, and the faster it is done, the more strain it puts on the reactor and its safety and cooling systems. And even after fission is mitigated, a reactor core generates heat that requires a fully functional cooling system.

S&P’s History of Relentless Political Advocacy

By: David Dayen Monday August 8, 2011 7:00 am

If the rating agency’s entire argument was that the political system showed itself to be “less stable, less effective, and less predictable” during the debt limit debate, and that this failure of policymaking and institutional capability increases the chances of default, I don’t have much to argue about that. But, there’s a policy response for that. S&P could do exactly what Moody’s did and call for the debt limit to be extinguished, on the grounds that the legislative branch shouldn’t get to vote twice on funding, once when they appropriate it and another time when they decide whether or not the bill should be paid. If they really wanted to exert some influence on behalf of bondholders, they could have said that they would downgrade US debt further if the debt limit isn’t abolished within 90 days. Since the brinksmanship over the debt limit constitutes the biggest – perhaps the only – threat to paying off US sovereign debt, then the appropriate action for entities judging creditworthiness is to ask that the country in question eliminate the arcane and also dangerous practice.

But that’s not S&P’s only rationale.

Federal Agency NCUA Sues Banks Over Putbacks of Bad Mortgages

By: David Dayen Monday June 20, 2011 1:30 pm

Another day, another lawsuit for the big banks – in this case JPMorgan Chase and the Royal Bank of Scotland – over their mortgage and securitization practices. Only this one comes from the National Credit Union Administration, a federal agency.

Obamafication: Will White House Try to Nationalize House Races in 2012?

By: Jon Walker Monday April 4, 2011 6:30 pm

If the Obama campaign actually ends up spending real money in Texas, it would be a strong sign that they are thinking of trying for an “Obamafication” of the entire Democratic Party in the 2012. Embracing a strategy of making many of the House and Senate elections around the country a referendum on Obama, as well.

This Holiday Season, Give the Gift of Legal Aid for Foreclosure Victims

By: David Dayen Thursday November 25, 2010 7:45 am

This is really important. That $35 million for legal services for foreclosure victims isn’t likely to be appropriated, and the Administration’s efforts are insufficient. I’ve heard multiple stories of legal aid foundations planning to cut back on staff because of budget troubles.

The holidays are coming up. I can’t think of a better gift to give to someone than the opportunity for them to stay in their home. Legal aid foundations need our help. Find one in your area.

Re-Foreclosure, Counterfeit Notaries, and Petrified Lawyers: Tales of Foreclosure Fraud

By: David Dayen Monday November 15, 2010 6:30 pm

The other day, someone alerted me to this Boston Globe article about “re-foreclosures.” In some cases, the banks can obtain a successful eviction and control the property, but find themselves unable to obtain title insurance that they need to sell the property. So they go back to the previous homeowner, give them back the home, and try to foreclose on them again. Welcome to America circa 2010.

Election Day Today! (Sort Of)

By: Jon Walker Tuesday September 28, 2010 10:06 am

Technically, today is sort of election day in Ohio, Vermont, Georgia, South Dakota, and Iowa, given that voters can start voting in person for the midterm elections.

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