LITTLE ROCK — QUOTE OF THE DAY
“The $20 billion might not be enough, maybe it will. Whatever it takes, these individuals and businesses must get paid.”
Kenneth Feinberg,
who has been tapped by President Barack Obama to run the Gulf of Mexico oil spill relief fund Article, 1AConsumer bureau loses Fed-site foe
WASHINGTON - U.S.
Representative Barney Frank, the lead negotiator on the financial-overhaul legislation, has accepted the Senate’s proposal to house a new consumer protection bureau at the Federal Reserve.
Frank, chairman of the House Financial Services Committee, will make the concession as part of a package of changes to be debated today, Steve Adamske, spokesman for the Massachusetts Democrat, said Monday.
Frank had supported creating a stand-alone agency, an idea included in the financial bill passed by the House in December.
Frank’s package of proposed changes to the Senate bill included restoring a measure that would exclude automobile dealers from oversight by the bureau. The exemption was included in the House version of the bill but was stricken by the Senate. The White House wants auto dealers to fall under the bureau’s jurisdiction. The measure is likely to be a subject of debate when negotiators meet today.
In addition, Frank proposed putting payday lenders, check cashers, money remitters and private student-loan providers under the supervision of the consumer bureau.
Dallas chief’s son slays 2, is slain
LANCASTER, Texas - Investigators said Monday that they believe that the 27-year-old son of Dallas Police Chief David Brown shot and killed a man at a suburban apartment complex and then opened fire on responding officers, killing one, before being shot to death.
Dallas County sheriff’s Deputy Lupe Valdez said investigators were still sorting out details, but that it appeared David Brown Jr. shot Jeremy McMillan, 23, on Sunday evening and opened fire on officer Craig Shaw and others when they responded.
Shaw, 37, was killed, the first officer to die in the line of duty in Lancaster, a city of 35,000 about 15 miles south of Dallas.
Brown died after other officers returned fire.
Investigators found several weapons in Brown’s home and car, she said.
Gates picks Amos to lead Marines
WASHINGTON - Defense Secretary Robert Gates announced his choices for new leadership of the Marine Corps on Monday.
Gates said he has recommended that President Barack Obama nominate Gen. James Amos for the top job of commandant of the Marine Corps. The job requires Senate confirmation.
The White House is expected to accept Gates’ choice. A public schedule released last week prematurely listed Amos as the nominee.
Amos is seen as willing to support Gates and other senior Pentagon leaders as they spend the next several months looking for cost savings.
In choosing him, Gates and Navy Secretary Ray Mabus passed over Gen. James Mattis, an expert in counterinsurgency warfare who was expected to pose a stiffer challenge to proposed budget changes.
Amos is the service’s assistant commandant. He would replace Marine Gen.
James Conway, whose fouryear term as Marine commandant ends this fall.
Front Section, Pages 3 on 06/22/2010