If you have a lot of time on your hands, you could probably read through the House and Senate versions of the financial reform bills, and get some idea of how each one addresses consumer financial protection. Or, you could just hope that a consumer lawyer would do it for you, and then summarize his findings in a tidy PowerPoint presentation. Guess what?
Government Policy
BP Oil Spill More Like 12,000-19,000 Barrels Per Day
By 5.28.10
First BP told us 1,000, then 5,000, and now a joint federal and independent research task force estimates that 12,000 to 19,000 barrels of oil were spewing into the Gulf since the crisis began, NYT reports. If the numbers are right, then we’re talking about as much as 30 million gallons. That would be more than 3x the amount from the Valdez disaster. [More]
Bipartisan Senate Push Seeks To Expose Owners Of Prepaid Cell Phones
By 5.28.10
A couple Senators are Voltroning to introduce legislation that would let authorities track identities of prepaid cell phone owners. Anyone who’s seen The Wire knows criminals thrive off of pre-paids. [More]
This Is Where Stinky Drywall Comes From
By 5.28.10
The Consumer Product Safety Commission has released the names of the top manufacturers of stinky, dangerous drywall, which emits high levels of hydrogen sulfide (the source of its stinkiness). According to the agency, drywall from the manufacturers, all based in China, emitted hydrogen sulfide at levels up to 100x greater than samples from non-Chinese manufacturers. [More]
Criminal Charges Are Possible For Tylenol Recall Scandal
By 5.27.10
CNN is reporting that the FDA has referred the Tylenol recall case to their criminal division for investigation. At issue is a pattern of non-compliance with FDA warnings and failures by management of McNeil to investigate and provide a timely resolution to serious problems with the product. These problems include excess amounts of the active ingredient in Tylenol, acetaminophen. [More]
Defense Department Has A 26-Page Brownie Recipe
By 5.27.10
Looking to make brownies that can be stored in a hot warehouse, dropped out of an airplane, dragged through the mud, left out with bugs and vermin and still be eaten 3 years later? Then you should check out this 26-page PDF from the Pentagon. [More]
If You See People Swipe iPhones, Don't Try To Cap 'Em
By 5.27.10
Police in Oregon say a trigger-happy man who witnessed an iPhone mugging shot at the thieves’ getaway car as the got away. Being that life is not Grand Theft Auto IV, the cops busted the guy. [More]
Want More Lead Or Pesticide In Your Body? Try Dietary Supplements
By 5.26.10
Lead has a deservedly bad reputation when it comes to human health and development, but because it’s classified as a heavy metal it will always be kind of awesome. Well, to me. Pesticide, not so much. If you dislike ingesting either type of toxin, you might be interested in a new study being released today by the Government Accountability Office that found trace amounts of “lead and other contaminants” in every sample of 40 health supplements tested. [More]
Lady Enters Security With $24,000 Rolex, Leaves Without, Suit Alleges
By 5.25.10
A woman is suing the TSA after she says she was forced to take off her $24,000 Rolex to pass through security, and when she went to retrieve it, it had mysteriously vanished. [More]
Federal Reserve Is Making All Sorts Of Money For The Treasury
By 5.25.10
Bloomberg is reporting that the Federal Reserve will probably transfer record earnings exceeding $70 billion into the US Treasury. The income is coming from assets that include mortgage-backed securities, says the Congressional Budget Office. [More]
Study Finds Sunscreen May Help Cancer Develop Rather Than Prevent It
By 5.25.10
The advice for the Class of 99 was to wear sunscreen, but the Environmental Working Group doesn’t think that’s such great advice, concluding that sunscreen does little to prevent skin cancer and in fact may speed up the rate at which cancer develops and spreads. [More]
Supreme Court Stuffs NFL's Antitrust Protection With Goal Line Stand
By 5.25.10
The NFL is an association of 32 separate businesses rather than one giant corporation with 32 branches, the Supreme Court ruled Monday, preventing the league from getting antitrust law protections it wanted. The suit originated from hatmaker American Needle, which the NFL dissed in favor of an exclusive deal with Reebok. American Needle said it was shut out thanks to a collaboration between the teams. [More]
54,000 More HP Batteries Recalled
By 5.24.10
Hewlett-Packard doesn’t just make props for cringeworthy feature length commercials; the company also sells batteries that sometimes catch fire. A year ago HP recalled about 70,000 bad batteries, and now it’s added another 54,000 to the list. [More]
Congress May Consider Banning Drop-Side Cribs
By 5.24.10
Kirsten Gillibrand, a senator from New York, is apparently unsatisfied with the CPSC’s pledge to implement a voluntary ban of drop-side cribs. Gillibrand plans to introduce legislation this week that would outlaw the sale of drop-side cribs and ban them from daycare centers and hotels. Earlier this month, the CPSC said that this crib design has killed at least 32 infants and toddlers since 2000, that over 7 million drop-side cribs have been recalled since 2005. [More]
To Settle Lawsuit, AT&T Lets You Unlock Anything That's Not An iPhone
By 5.24.10
AT&T has settled a class action suit by providing codes that unlock any phones that were bound to AT&T. That includes any phones but that pesky iPhone, which is bound by an exclusivity agreement that lasts til 2012 but may or may not have already been renegotiated. [More]
Congress Putting Genetic-Testing Companies Under Microscope
By 5.23.10
While Walgreens may have voluntarily chosen not to sell home genetic testing kits in the face of an FDA investigation, its action has brought attention to the entire for-profit testing industry, and others may not have the luxury to quietly shut down on their own. A congressional committee is looking into the business, and could end up regulating the industry. [More]
Some Skin Lightening Creams Are Full Of Banned Mercury
By 5.22.10
The Chicago Tribune bought 50 creams used to lighten skin and fade age spots and had them sent to an outside lab for testing — and got troubling results. Six of the creams were found to contain amounts of mercury banned by federal law. Five of the creams had enough of the toxic metal to cause kidney damage over time, the Tribune reports. [More]
Trader Joe's, Walmart Sprouts Recalled For Salmonella
By 5.22.10
Sprouts sold at Trader Joe’s, Walmart, Kings Super Market, Numero Uno Stores, Cárdenas Markets, Gonzalez Northgate Markets, Wal-Mart stores, Jons Markets, and Canton Foods have been recalled after an outbreak of salmonella sickened more than 20 people in 10 states. [More]
