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Washington
Inside Washington (11/07/2008)
* WASHINGTON (11/10/08)--Restructuring oversight of the nation’s financial system is going to be a larger challenge than most people realize, said Rep. Mel Watt (D-N.C.) last week. Though policymakers agree that something should be done to remedy the problem, they do not agree on a solution. Agency heads also are concerned about keeping their jobs, so it may be difficult for them to suggest a new system that doesn’t involve them. Watt said he’s seen more “turf protection” than public policy (American Banker Nov. 7). The congressman also said he plans to ask regulators during a hearing this week why foreclosures weren’t stemmed earlier. His role in revamping the financial system is not yet clear--he currently serves as chairman of the House Financial Services oversight subcommittee, but says he could leave to head a subcommittee on the Judiciary Committee ... * WASHINGTON (11/10/08)--The U.S. Small Business Administration (SBA) awarded more than $450,000 in veterans assistance and services grants to fund programs that promote business ownership for veterans and services to small businesses. The recipients, SBA Small Business Development Centers, were selected based on their range of services provided to veterans. The grantees are the Research Foundation at the State University of New York, the University of Arkansas at Little Rock, the University of Kentucky Research Foundation in Lexington, the University of Texas at San Antonio and George Mason University in Virginia ... * WASHINGTON (11/10/08)--Speaker of the House Nancy Pelosi is considering a two-staged effort to help the economy by acting on a $60 billion to $100 billion stimulus package and permanent tax cut next year, she told The Wall Street Journal. The job market is weak, and the White House needs to work with Congress during the end of the Bush administration, she said. (The Wall Street Journal Nov. 6). Any action taken during the lame-duck session will be a foundation for later measures, Pelosi added ...


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