President Obama is meeting with some of Wall Street's biggest bankers today. A lot of Americans are wondering exactly what we got out of the deal for bailing those banks out last fall, because some CEOs are still collecting and handing out bonuses like the financial meltdown never happened.
On Monday's American Morning, we spoke with Diane Brady, a senior editor with "Business Week," and our own Christine Romans about how much influence the president has over banks that received taxpayer bailouts.
Editor’s note: Arctic explorer Eric Larsen is trying to make it to the North and South Poles and the summit of Mount Everest in 365 days as part of an effort to raise awareness about climate change. Larsen joined us on American Morning before he set out on his Save the Poles expedition. Below is an excerpt from his online journal.
By Eric Larsen
On Tuesday, the Center for Biological Diversity's Climate Law Institute released a report demonstrating that President Obama has clear legal authority to commit the United States to reducing greenhouse gas pollution.
The report, titled “Yes, He Can: President Obama's Power to Make an International Climate Commitment Without Waiting for Congress”, concludes that the President need not wait for Congress to act before taking strong action to reduce U.S. emissions.
The report was released at an event hosted by Greenpeace at the conference site. The take away: President Obama's hands are not tied by Congress's lack of action or the grossly inadequate cap-and-trade bills currently under debate. President Obama can lead, rather than follow, by using his power under the Clean Air Act and other laws to achieve deep and rapid greenhouse emissions reductions from major polluters. The Constitution and existing domestic environmental laws give President Obama all the power he needs to join with other nations in making a real commitment to solve the climate crisis.
The CNN Express is hitting the road all this week to see if Americans are buying into claims the recession is over.
This morning, CNN Chief Business Correspondent Ali Velshi joined us live from Asheboro, North Carolina with the first part of his series, "Recovery Road."
Chairman of the Joint Chiefs of Staff Admiral Mike Mullen arrived in Kabul earlier today for a series of meetings with the Afghan government on the president's new war strategy.
Meanwhile, here at home, President Obama is rejecting criticism that he shouldn't have said he'd begin to draw down some of the 30,000 new troops to Afghanistan by the summer of 2011.
For the 30,000 additional troops headed to Afghanistan, the fight is a lot more complex than just good guys versus bad guys. Our Barbara Starr traveled to eastern Afghanistan for this AM original report.
President Obama is going toe-to-toe with big banks today. With very little leverage and even less to offer, he'll meet with the heads of twelve giant banking firms.
Here's his pitch: make less money, and lend more of it to the American people. It's a tough sell, for sure. Our Suzanne Malveaux has the report.
"A good, solid B+." That's how President Obama is grading himself for his first year in office. In an interview with Oprah Winfrey, he said that could improve to an "A" by creating jobs and getting health care done.
The president also told CBS' "60 minutes" he expects a health care reform bill to be on his desk sooner than people think. Today, though, there are new hurdles in the Senate. Our Jim Acosta has the report.