Fiscal Hawks, Democrats working to cut one-time revenue from Jindal’s budget — The Lens | Don’t miss this story about unexpected political alliances forming in the Legislature to tackle state budget challenges. Democrats who supported Jindal’s budget last year may find common cause with the conservative Fiscal Hawks faction this time around, and force Gov. Bobby Jindal to balance the budget with recurring revenues rather than one-time money. The unpopular Jindal administration doesn’t seem to have an abundance of friends in the Legislature right now. To what extent will it have to compromise? The Lens political reporter Tyler Bridges lists the key players to watch.
Targeting Banks Too Big to Fail – Barrons.com | Wall Street is nervous about banking reform legislation — sponsored by Sen. David Vitter, R-La., and Sen. Sherrod Brown, R-Ohio — that would force “too big to fail” investment banks to either carry larger cash reserves or break up into smaller entities.
“Based on discussion drafts, the Brown-Vitter bill probably will call for 15% minimum capital for banks with assets of $400 billion or more. There are seven of those [JPMorgan Chase , Bank of America, Citigroup, Wells Fargo, and Goldman Sachs, Morgan Stanley, and GE Capital]. The bill is apt to seek 10% minimum capital for the roughly 30 banks with assets between $50 billion and $499 billion. Banks now are required to hold roughly 3%. “
DRC, the embattled disaster-recovery company that is in the crosshairs of a sprawling federal probe, hired a firm in 2010 with close links to Municipal Court Judge Paul Sens to help it manage the construction of a $9.6 million temporary jail it was building for Orleans Parish Sheriff Marlin Gusman, according to sources familiar with the arrangement. Sens is one of Gusman’s closest friends and the brother of John Sens, the sheriff’s former purchasing director, who has pleaded guilty in a kickback and bid-rigging scheme and is now cooperating with federal authorities. The company DRC tapped for help, Crowley Consulting LLC, was founded in March of that year, just three months before the sheriff’s office hired DRC. Its lone officer is Dan Crowley, a nephew-in-law of Sens’ who doubles as a minute clerk in Sens’ court.
Are ‘Lockdowns’ the New Standard? – The Atlantic Cities | Overreaction, or new security trend? The implications of the unprecedented (and largely voluntary) lockdown in Boston during the hunt for bombing suspects are worth some reflection. “Each and every U.S. mayor and governor is now asking themselves the same question: If and when this happens in my city or state, is the ‘lock down’ approach now the only politically palatable option?” Also recommended: Atlantic Cities writer Emily Badger’s piece titled “The Psychology of a Citywide Lockdown.”
“A decision by the U.S. Army Corps of Engineers to send more water into the Atchafalaya Basin could be a boon for crawfishermen, and some state officials are hoping it’s a sign the federal agency might be more open to future requests to manage water levels in the massive swamp.”
The Wild Side: Allain’s bill to protect reef funds — Columnists — The Advocate | The Louisiana Artificial Reef Fund was supposed to be constitutionally protected from being raided during lean times. However, that’s just what happened in 2010 and 2011, and the Jindal administration reportedly wants to raid it again this year. State senator Bret Allain, R-Franklin, has filed legislation to protect the fund. This recent NOLA.com | The Times-Picayune story has more background on the fund, which appears to be a rare “win-win” arrangement between big oil, commercial fisherman and recreational anglers.
Louisiana school head pulling student info from nonprofit’s database — The Town Talk | Two days after he gave assurances that a nonprofit database holding student information was secure, Louisiana Department of Education Superintendent John White has decided to withdraw the digital records. “’I’m confused,’ BESE member Lottie Beebe said early Friday after reading an email from White about the change. ‘The other day (he said) it was the best thing since mom’s apple pie!'”
Mark Moseley blogs at Your Right Hand Thief. Until mid 2014, Mark Moseley was The Lens' opinion writer, engagement specialist and coordinator for the Charter Schools Reporting Corps. After Katrina and...
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