Archive - Apr 20, 2010

• Bolivia opens “people’s” summit on climate change
• Mexico’s shrimp industry reacts to new US regulations
• Lehman Brothers misled public, SEC failed in oversight, report finds
• Democrats push for financial regulation as Republicans remain critical
• Voting rights for DC residents postponed
• EPA announces new funds to clean up brownfield sites

• Former Argentine dictator sentenced to life for human rights violations
• TX Attorney General challenges gay divorce
• PA school district takes 56,000 pictures of students with computer spy cams
• Civil Rights matriarch dies at 98

This morning marked the official inauguration of the People’s World Summit on Climate Change and the Rights of Mother Earth in Tiqupaya, Bolivia. Organizers are calling it an alternative to last year's failed Copenhagen talks - one that puts front and center the needs and concerns of poorer nations many of which are expected to be hit hardest by climate change. FSRN's Jessica Camille Aguirre and Aldo Orellana report.

Starting today Mexico cannot export wild shrimp caught in the open ocean to US markets. The US State Department has decertified certain shrimping practices. Mexican shrimping fleets are now racing against the clock to come under compliance by the the start of the next shrimping season. Shannon Young reports.

On Capitol Hill today, the financial crisis -- and how to prevent it from happening again - was the focus of several hearings. The House Financial Services Committee looked at a 2,000-page report on the 2008 collapse of Lehman Brothers.

The day-long hearing consisted of four panels, including Treasury Secretary Tim Geithner, Federal Reserve Chair Ben Bernanke and SEC Chair Mary Schapiro, who became chair in January 2009. Schapiro said "vigorous regulation and a new culture and approach" are necessary.

"The examiner’s report raises serious questions about the oversight of Lehman’s liquidity pool asset valuation and its risk related internal control…It appears there was insufficient follow up on issues that should have raised concerns."

The report, released last month by court appointed examiner Jenner & Block, said Lehman "painted a misleading picture of its financial condition.” The firm also puts blame on the SEC. Partner Anton Valuukas said the SEC stood by "idly" rather than fulfilling its mission to "protect investors."

Democratic lawmakers say the case of Lehman Brothers is another example of the need for an overhaul of the financial regulatory system. The Wall Street reform bill is getting closer to a vote, but Democrats must once again persuade Republicans, who oppose the legislation. FSRN's Karen Miller has more.

Washington, DC residents will have to continue their long wait for equal rights. Democratic leaders on Capitol Hill announced today that they were scrapping plans to bring a controversial voting rights bill to a vote. The United States is the only democratic nation in the world that denies voting representation to the residents of its capital city. Tanya Snyder reports