Former State Senator: Too Big To Fail Means Too Big To Insure

By Chingyu Wang-Talk Radio News Service

Sam Zamarripa, a former State Senator for Georgia, is calling on Congress to put regulations in place that would prevent financial institutions from becoming "too big to fail."

"Too big to fail is also too large to insure," Zamrripa, who nows chairs the organization Stop Too Big To Fail, said during a conference call Wednesday.

Zamrripa explained that if an institution grows large enough to pose a systemic risk if it fails, then the U.S. should be able to step in and essentially break it up.

Former chief economist for the International Monetary Fund Sloan Johnson, who joined Zamarripa on Wednesday's call, said that adding resolution authority financial reform legislation will effectively end "too big to fail."

If implemented, the federal government would be able to take control of an institution in crisis and provide a number of safeguards against systemic failure by liquidating it.

"The resolution authority is a magic bullet," Johnson added.

Secretary Sebelius Dismisses Legal Challenges To Health Care Reform

By Chingyu Wang-Talk Radio News Service

Health and Human Services Secretary Kathleen Sebelius Tuesday dismissed the legal challenges against the recently passed health care reform law.

"We are confident that the legal standing of the law is solid and this has more to do with politics and policy," said Sebelius during an appearance at the National Press Club. "Our job is to really focus on talking to American people about what really is in the bill, how the law will work to their benefits, what's available for them and that's where we are going to spend our time and energy."

Attorneys general from 14 states have filed lawsuits against the new law on the basis that a mandate requiring individual's to purchase insurance violates the constitution.

Sebelius noted that she believes there is significant political motivation for the 14 attorney generals.

"I think that the vast majority of lawsuits have been filed by attorney generals in states where they have also some interest in higher office," said Sebelius.

Human Rights Activists Challenge Legitimacy Of Upcoming Sudanese Election

By Ching Yu Wang-Talk Radio News Service

A collection of human rights activists told reporters during a conference call Thursday that the results of Sudan’s upcoming election will likely not be legitimate.

Sam Bell, the executive director of the Genocide Intervention Network, explained that opposition candidates have had limited access to media and are restricted by draconian national security laws.

“This is not going to be a legitimate election and it shouldn’t be recognized as such by the United States or other parties,” said Bell.

The election, scheduled to take place from April 11 through April 13, is the first multiparty election in the country in 26 years.

John Norris, the executive director of the Enough Project at the Center for American Progress, has accused the Obama administration of faltering in their interaction with Sudan.

“There is a divide in the administration about how to approach Sudan and how to approach Sudan policy," said Norris. “The administration needs to be far less delicate and it needs to be honest about what’s going on.”

Gabriel Stauring, the director of Stop Genocide Now, says that Congress should play a watchdog role over both Sudan and the Obama administration's relation with the country.

“Congress plays an important role here in providing oversight to ... redirect the U.S. policy in Sudan," says Stuaring, whose organization has ran ads on the social networking site Facebook targeting the constituents of members who sit on the Senate Foreign Relations Committee.

Drilling Alone Won't Solve Energy Crisis, Says Interior Secretary

By Chingyu Wang-Talk Radio News Service

President Barack Obama said Wednesday that the recent decision to allow for new oil and gas exploration off America's coasts will help fulfill U.S. energy needs and improve the economy. However, according to Interior Secretary Ken Salazar, offshore drilling alone will not help the U.S. achieve energy independence.

“We expect just in the eastern Gulf alone that approximately a hundred million barrels of oil will come in,” said Salazar during a conference call with reporters on Wednesday. “But ... it’s still a relatively minor amount to the amount of oil and natural gas we import from other sources.”

“We don’t believe that we are ever going to drill our way to energy independence,” he added.

College Will Soon Be Cheaper, More Accessible, Says Education Secretary

By Chingyu Wang-Talk Radio News Service

Secretary of Education Arne Duncan touted recent changes to the education system Tuesday after President Barack Obama signed the Health Care and Education Reconciliation Act.

Duncan, who spoke with reporters in a conference call, pointed to the expansion of Pell Grants as a major change and stressed that it will make college drastically cheaper and more accessible.

“Students are going to receive more Pell Grants,” said Duncan. “You can literally going to school for free with these Pell Grants.”

Duncan also explained that Americans who choose a career in public service will receive benefits.

"If you go into public service... after 10 years of public service work, all of your debt will be forgiven.”

Director of the Domestic Policy Council Melody Barnes, who joined Duncan in Tuesday's call, outlined the Obama administration's long-term aim for education.

“[President Obama's] goal is that the nation should graduate the highest proportion of college graduates in the world by the year 2020,” Barnes said.