First up, Chris Dodd shares his vision of a new super bank regulatory committee, one far different than our president’s. He hopes to combine four different commissions into one, also limiting the role of the Federal Reserve. Senator Dodd says, “We clearly need to put in place an architecture that restores confidence and makes people feel that when they engage in financial activities, from making a bank deposit to buying insurance or investing in stock, that they can have confidence in the system,” Read more at the NYT.
In recent op-eds Thomas Friedman makes another pitch for a manly gas tax.
Next up, world leaders are meeting at the UN in New York to discus international efforts to combat climate change. Looks like yet again Europe is expecting a head to head confrontation with a timid America. Could be a tough fight because a recent study shows a slowing of current polar melting trends.
Finally, an interesting article on Roger Penske whose Penske Automotive Group is expected this month to complete its acquisition of Saturn from G.M, a brand that has lost an estimated 20 billion dollars in the last 24 years. A man with a long history of fixing quagmires, Penske may be making an educated bet, but at the end of the day it’s still a gamble.