Regulation of pollutants and JPMorgan will dominate discussions in the nation’s capital today, along with fallout from yesterday’s elections.
The Senate Banking Committee will hear from Treasury Secretary Tim Geithner and Federal Reserve, FDIC, and other market regulators on what led to JPMorgan Chase & Co.’s $2 billion trading loss and the progress being made on implementation of Dodd-Frank rules. Geithner asked bankers to give specifics on their longstanding complaint that Dodd-Frank Act is imposing costly, confusing and burdensome regulations, Bloomberg News reported today.
Meanwhile, former EPA regional chief Al Armendariz, who linked pollution enforcement to Roman crucifixion, testifies at House Energy Committee hearing on the agency’s priorities and practices. Later, Senators Jeff Bingaman and Lisa Murkowski will appear at the Bipartisan Policy Center to discuss proposals for disposing of the nuclear waste that’s piling up at power stations across the country after Congress failed to come up with a long-term storage solution.
White House rules chief Cass Sunstein, Texas Environmental Quality Commission’s Michael Honeycutt and Illinois Chamber of Commerce energy council director Tom Wolf testify on EPA rules and jobs at House Science Committee. And Transportation Secretary Ray LaHood and European Commission climate director Jos Delbeke testify to the Senate Commerce Committee on the impact of the EU’s emissions-trading system on the airline industry. Delta Air Lines and other U.S. carriers say the regulations will cost them more than $3.1 billion by 2020.
Wisconsin Republican Gov. Scott Walker won his recall election yesterday, and Mitt Romney, who gained enough delegates to secure the Republican party’s presidential nomination on May 30 in Texas, swept primaries in Montana, New Mexico, New Jersey, South Dakota and California.