American Morning

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July 16th, 2010
05:58 AM ET

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Editor's Note: Welcome to American Morning's LIVE Blog where you can discuss the "most news in the morning" with us each week day. Join the live chat during the show by adding your comments below. It's your chance to share your thoughts on the day's headlines. You have a better chance of having your comment get past our moderators if you follow our rules: 1) Keep it brief 2) No writing in ALL CAPS 3) Use your real name (first name only is fine) 4) No links 5) Watch your language (that includes $#&*).

No oil leaking as BP conducts critical pressure tests in Gulf oil well

New Orleans, Louisiana (CNN) - A highly anticipated test designed to measure pressure within BP's ruptured Gulf of Mexico oil well finally began Thursday, and for the first time in nearly three months, oil stopped flowing into the Gulf.

The move was lauded by a variety of officials as a positive step, accompanied by a strong note of caution that the cutoff was simply part of the test, as BP and government experts try to assess how the well is holding up.

The test got under way after two days of delays, first as government scientists scrutinized testing procedures and then as BP replaced a leaking piece of equipment known as a choke line.

The data are being particularly closely scrutinized at six-hour intervals. Higher pressure readings mean the well is containing the oil, while lower pressure means some is leaking out.

The "well integrity" test could end after one of the six-hour periods, if the results are disappointing. But it could go on for 48 hours. The longer it goes, the better indications are that the well is holding with a custom-made sealing cap. Read More

Wall Street reform: On to Obama

WASHINGTON (CNNMoney.com) - The Senate on Thursday afternoon passed the most sweeping set of changes to the financial regulatory system since the 1930s, sending the Wall Street reform bill to President Obama.

The Senate voted 60 to 39 to pass the reforms, ending more than a year-long effort to pass legislation in response to the 2008 financial crisis. Obama is expected to sign the bill into law next week.

The bill aims to strengthen consumer protection, rein in complex financial products and head off more bank bailouts.

To secure enough votes, Senate Democrats made lots of deals, which watered down the bill. For example, Wall Street banks will get wiggle room to make limited risky bets, which is tougher than the current law, but weaker than earlier drafts. Read More

Sound off: We want to hear from you this morning. Add your comments to the LIVE Blog below and we'll read some of them on the show.


Filed under: American Morning • Top Stories
soundoff (17 Responses)
  1. Marsha

    The news that inmates is doing other crimes is not news. Any fool would be smart enough to realize criminals commits other crimes. The reporter telling this story acts like he has found a gold mine. This is why CNN is turning into a joke. The Guard in the story is the real joke too. For this to have gone on so long at their jail.

    July 19, 2010 at 7:45 am |
  2. Joanie Schulfer

    Soooooooo.... I voted for Mr. OBama cuz I got caught up in all the "change"... well I got change. My company relocated and I am in this wondrous job market at 58 years old and on unemployment which is even more change... ( get the pun..change). but I digress... so we can give 7.6 BILLION

    July 19, 2010 at 7:41 am |
  3. Cleveland Sanders

    When the weather report is given why is South Carolina over looked?
    The weather is given for parts of GA. and NC. , like that will please us and help us in SC. SC has navel, interstate and air traffic, also we are not just one of the fifty states, but one of the original states.

    Cleveland Sanders
    Orangeburg, SC.

    July 16, 2010 at 12:07 pm |
  4. Jeff

    Wall Street reform, isn't that a play on words. The government is to bogged down in their own red tape to pass any reform that can be effective. The fact that the Republicans and Democrats can't seem to get along because their party affiliation gets in the way of doing the right thing is enough to derail the whole thing.

    July 16, 2010 at 9:02 am |
  5. Tom-Vermillion, Ohio

    I find it interesting that the BP live feeds of those pressure gages that are supposedly being round the clock monitered are not to be seen by the general public. The question is, is why? I want to see the well head pressure. You know, the one whose pressure is supposed to stabilize at 8000 PSI. These gage readings are important.

    July 16, 2010 at 9:00 am |
  6. William Gillespie

    It remains a mystery to me how the Tea Party continues to keep folks within it's ranks. Their spokespeople are unfailingly laughable and from what I've seen in the past few days, entirely unversed in the art of debate. It's amusing to watch them repeatedly shoot themselves in the foot.

    July 16, 2010 at 8:49 am |
  7. Malcom

    It is great that they have finally stopped the oil leak. I hear the White House is not ready to celebrate yet. I agree. There should be no celebration from the White House until the 200 billion gallons of oil in the gulf & on the coast are cleaned up and the people on the gulf are made whole again.

    July 16, 2010 at 8:18 am |
  8. Cheryl Hancock

    time will tell if the leak is really fixed or not but the President doesn't need to drop the ball on the B.P. issues that still remain, the leak has caused an eco disaster that will be with us for decades and they need to be made to pay every last penny of the total costs that decades from now, we will still be dealing with the gulf coast disaster's continuous effects, and they also need to pay the fishermen and women for their losses too. I'm sick to death of hearing the Brittish whinning about theiri stock losses, just wait, sooner or later, the oil could possibly reach parts of Europe, this is not over by any means so stop whinning and put yourselves in our shoes, and think about what B.P. has done to us and to our way of life and to the animals and our eco system.

    July 16, 2010 at 8:18 am |
  9. Tammy/Florida

    Glad to hear that the Oil well is capped but is there a reason why we don't see the live video feed anymore?

    July 16, 2010 at 8:16 am |
  10. William Gillespie

    Good Morning. In the shadow of the bigger news about the oil leak being temporarily stopped, I am wondering about the information I just saw on your UPDATE ticker at the bottom of the screen. I read there that BP is one of the U.S. military's largest suppliers of fuel. Upon a quick search I found that BP was indeed the U.S. military's largest supplier of fuel in 2009 and remains the third largest supplier in 2010, continuing to be awarded contracts since April 20th. I am wondering why I haven't seen or heard more reported about this by you. After all, I'm sure I'm not the only person wondering why BP has the authority to have ordered arrests of those attempting to photograph the disaster and keep reporters from having interviewed clean up workers using state and federal authorities as their strong arm ( namely the Coast Guard among others). Is it just me or do the dots blatantly connect?

    July 16, 2010 at 7:29 am |
  11. art

    Wall Street financial reforms should have been tackled when Enron went under, but I'm gonna go out on a limb and say that McCain, Shelby, and McConnell didn't have a clue about how to go about such a task because it was not where their party's interests could be found. The new legislation may not be the perfect solution for what caused the economic disaster, but it's a good solid step in the right direction. Had the new legislation been in place just a few years ago, a lot of American wealth, homes, and jobs would not have been lost. I'm sure the new legislation could be amended down the road if derivatives prove to be a problem once more.

    Let's see here....

    The American Recovery and Reinvestment Act

    Health Care Reform

    Wall Street Financial Reform

    Not bad for the first seventeen months in office. Bring on the November midterm-elections!

    July 16, 2010 at 7:25 am |
  12. herbert

    BP was playing a political game with the oil spill.How come they didn't stop the spill after one month or in the 2nd month?why the idea came late??The gov should do another internal investigation as to why it took so long to put the cap in place.Earthquake in DC is a wake call to politician and DC residents that God is watching and warning them. DC change your ways don't be like Haiti,

    July 16, 2010 at 7:19 am |
  13. MeLoN

    Hopefully the Wall Street financial "reforms" will actually help and protect the American public and not be in the order of the health care INSURANCE "reform" that the Socialist are attempting to force on America.

    July 16, 2010 at 7:06 am |
  14. Randall of Texas

    Where is the Petetion Against Letting Goldman Sachs Off With A $550 Billion fine?

    A good American Marine would walk into Goldman Sachs headquaters Wall Street office and open up randomly firing and umloading an Uzi magazine and then hard working cement truck drivers empty two truckloads of cement on the floors and desks if it is on a ground floor.

    It is easier to understand the planes being flown into the World Trade Center which was the World Hub for capitalism.

    I can feel the likes of people like Donald Trump and friends laughing at the white trash all day after the inside news made it around the super rich circles.

    July 16, 2010 at 6:44 am |
  15. Ron Williams

    The fact that the writer of that offensive letter thought it was funny and wasn't offensive just shows how oblvious the Tea Party people are to their own hatefulness and racisim. It is a shame that in 2010 there are still people so hateful and bigoted. But what's even more disturbing is that they don't even realize or even understand how racist their comments and thoughts are. They think that that's just the way things should be. Which is the real problem.

    July 16, 2010 at 6:16 am |
  16. art

    What a fine morning!

    The gusher in the Gulf has been stopped for the time being,

    AND

    The Wall Street financial reforms have made their way through Congress and will soon become law.

    🙂

    July 16, 2010 at 6:06 am |
  17. MeLoN

    Good Morning CNN!

    Is it true?... The leak may be stopped? About time – if it is true.

    An earthquake in Washington D.C.?.... lol ... "GOD" trying to tell the politicians something, I wonder?

    July 16, 2010 at 6:03 am |