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March 26, 2009

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FDIC Seeks Comment on the Recently Announced Legacy Loans Program

FOR IMMEDIATE RELEASE
March 26, 2009 Media Contact:
Andrew Gray (202) 898-7192
angray@fdic.gov

The Federal Deposit Insurance Corporation (FDIC) today announced the opening of the public comment period for the Legacy Loans Program (LLP). The FDIC and the Department of the Treasury recently announced the LLP, which will remove troubled loans and other assets from FDIC-insured institutions and attract private capital to purchase the loans. The FDIC is requesting comment from interested parties on the critical aspects of the proposed LLP.

The program is intended to boost private demand for distressed assets that are currently held by banks and facilitate market-priced sales of troubled assets. It is necessary because uncertainty about the value of these assets makes it difficult for banks to raise capital and secure stable funding to support lending to households and businesses.

The LLP, announced by the Administration on Monday, will combine an FDIC guarantee of debt financing with equity capital from the private sector and the Treasury. The partnerships will purchase assets from banks and place them into what will be known as Public-Private Investment Funds (PPIF).
Institutions of all sizes will be eligible to participate in the LLP to sell assets. It is expected that a range of investors will participate. The program will particularly encourage the participation of individuals, mutual funds, pension plans, insurance companies and other long-term investors. Investors will be pre-qualified by the FDIC to participate in auctions.

For providing a guarantee, the FDIC will be paid a fee, a portion of which will be allocated to the Deposit Insurance Fund. The FDIC will be protected against losses by the equity in the pool, the newly established value of the pool's assets and the fees collected.
The FDIC will play an ongoing reporting, oversight and accounting role. In addition, the FDIC will structure the debt that the selling bank will take back when the legacy loans are sold. Participant banks may then resell the debt into the market.

The FDIC is seeking public comment from interested parties on the critical aspects of the LLP. Comments are requested no later than April 10.
For more details on the program and to review and submit comments to the questions, please go to www.fdic.gov/llp/index.html.
# # #


STS-119 MCC Status Report #20
Tue, 24 Mar 2009 23:00:00 -0500
After more than four months in space, astronaut Sandra Magnus takes the first step on the road home today when space shuttle Discovery undocks from the International Space Station.

Chicago Press Releases for Federal Bureau of Investigation

This information has recently been updated, and is now available.


Remarks At The Women Leaders Dinner
Hillary Rodham Clinton

Secretary of State

Mexico City, DC, Mexico

March 25, 2009


U.S. Department of State Background Notes : Sweden (03/09)
Thu, 26 Mar 2009 09:41:57 -0500
AFFTC Technical Library Excess List #09-45

Excess List #09-45

Documents

GAO/NSIAD-96-141 – Operation & Maintenance Funding Trends in Army & Air Force Use of Funds for Combat Forces & Infrastructure, Jun 1996
GAO/NSIAD-96-143BR – Civilian Downsizing Unit Readiness Not Adversely Affected, but Future Reductions a Concern, Apr 1996
GAO/NSIAD-96-144 – Precision-Guided Munitions Acquisition Plans for the Joint Air-to-Surface Standoff Missile, Jun 1996
GAO/NSIAD-96-149 – Military Bases Update on the Status of Bases closed in 1988, 1991, & 1993, Aug 1996
GAO/NSIAD-96-155 – Environmental Protection Status of Defense Initiatives for Cleanup, Compliance, & Technology, Aug 1996
GAO/NSIAD-96-157 – Operational Support Airlift Analysis of Joint Staff Estimate of Military Wartime Requirements, Jun 1996
GAO/NSIAD-96-160 – U.S. Combat Air Power Aging Refueling Aircraft Are Costly to Maintain & Operate, Aug 1996
GAO/NSIAD-96-170 – Bottom-Up Review Analysis of DOD War Game to Test Key Assumptions, Jun 1996
GAO/NSIAD-96-172 – Military Base Closures Reducing High Costs of Environmental Cleanup Requires Difficult Choices, Sep 1996
GAO/NSIAD-96-175 – Electronic Warfare Additional Buys of Sensor System Should Be Delayed Pending Satisfactory Testing, Sep 1996
GAO/NSIAD-96-177 – Combat Air Power Joint Mission Assessments Needed Before Making Program & Budget Decisions, Sep 1996
GAO/NSIAD-96-190 – Battlefield Automation Army Land Warrior Program Acquisition Strategy May Be too Ambitious, Sep 1996
GAO/NSIAD-96-192 – Air Force Bombers Options to Retire or Restructure the Force Would Reduce Planned Spending, Sep 1996
GAO/NSIAD-96-222 – Weapons of Mass Destruction Status of the Cooperative Threat Reduction Program, Sep 1996
GAO/NSIAD-96-224 – Wartime Medical Care DOD Is Addressing Capability Shortfalls, but Challenges Remain, Sep 1996
GAO/NSIAD-96-225 – Foreign Missile Threats Analytic Soundness of Certain National Intelligence Estimates, Aug 1996
GAO/NSIAD-96-226 – Defense Budget Trends in Reserve Components’ Military Personnel Compensation Accounts for 1990-97, Sep 1996
GAO/NSIAD-96-232 – Contract Pricing Pricing of F-16 Mid-Life Update Program Contracts, Sep 1996
GAO/NSIAD-97 -1 – Aviation Requirements DOD Should Reassess the Marine Corps’ Helicopter Modernization Decision, Oct 1996
GAO/NSIAD-9 7-11 – B-2 Bomber Status of Efforts to Acquire 21 Operational Aircraft, Oct 1996

Carol Lahoski
AFFTC Technical Library
812 TSS/ENTL
306 E. Popson Ave, Bldg 1400, Rm 110
Edwards AFB, CA 93524-3360
661 277-3606
Email: carol.lahoski@edwards.af.mil
DoD News Briefing with Geoff Morrell from the Pentagon
Thu, 26 Mar 2009 08:45:00 -0500

U.S. Department of State Daily Appointments Schedule for March 26, 2009
Washington, DC

March 26, 2009


The US Nuclear Regulatory Commission, Office of the Inspector General, recently issued the following report(s):
OI-09-A-08, Audit of NRC's Agreement State Program - March 16, 2009
http://www.nrc.gov/reading-rm/doc-collections/insp-gen/2009/oig-09-a-08.pdf
Treasury Outlines Framework For Regulatory Reform
March 26, 2009
tg-72

Philadelphia Press Releases for Federal Bureau of Investigation

This information has recently been updated, and is now available.


Remarks With Mexican Foreign Secretary Patricia Espinosa After Their Meeting
Hillary Rodham Clinton

Secretary of State

Mexico City, DC, Mexico

March 25, 2009


DAILY WHIPLINE | THURSDAY, MARCH 26, 2009

Thursday, March 26, 2009
House Meets At…Votes Predicted At…
10:00 a.m. For Morning Hour Five “One-minutes” Per SideLast Vote: 1:00 – 2:00 p.m.


Any anticipated Member absences for votes this week should be reported to the Office of the Majority Whip at 226-3210

Floor Schedule and Procedure
Complete Consideration of H.R. 1404 – Federal Land Assistance, Management and Enhancement Act (Rep. Rahall – Natural Resources): Pursuant to H.Res. 281, amendments to the bill may be offered only in the order listed in the report of the Committee on Rules accompanying the resolution and may be offered only by the Member designated in the report. Consideration of the bill will continue as follows:
Debate and possible votes on amendments to the bill.
Possible debate and vote on Republican motion to recommit the bill.
Vote on passage of the bill. Democrats are urged to vote YES.
Bill Summary & Key Issues
H.R. 1404 - Federal Land Assistance, Management and Enhancement Act
For more than a decade, the skyrocketing costs of fighting wildland fires have forced federal land management agencies to "borrow " funds from non-fire programs, thus eroding the core mission of these agencies. Wildland fire activities now account for approximately 48 percent of the Forest Service budget. Projections indicate that this trend will continue into the foreseeable future as a result of drought, climate change and other factors.
H.R. 1404 establishes a federal FLAME fund for catastrophic, emergency wildland fire suppression activities to be used when annually appropriated funds run out. The FLAME Fund is to be used only for suppression of catastrophic, emergency wildland fires and only after the Secretary of Interior or Agriculture issues a specific declaration that the fire is large enough and dangerous enough to warrant tapping the fund.
The FLAME Fund would be available for catastrophic emergency wildland fire suppression activities on State and private land and would also be available for Indian tribes.
Section 3 of the FLAME Act requires the Secretary of the Interior and the Secretary of Agriculture to submit a report to Congress one year after enactment containing a cohesive wildland fire management strategy. The Government Accountability Office (GAO) has found that the federal land management agencies lack such a strategy and the USDA Inspector General found that the Forest Service lacks a system to ensure that the highest priority fuels reduction projects are being funded first. Therefore, the FLAME Act requires the report to address the GAO and Inspector General recommendations.
The bill also requires that annual reports on the FLAME Fund are made available to the public; requires the Secretaries to conduct a review of wildland fire incidents that result in expenses greater than $10,000,000; and requires the Secretaries to notify Congress whenever the FLAME Fund drops to a level estimated to cover just two months worth of expenditures.
The Senate companion measure to the FLAME Act was introduced by Senate Energy and Natural Resources Committee Chairman Jeff Bingaman and Ranking Member Lisa Murkowski. Furthermore, President Obama included funding that compliments the FLAME Act in his Fiscal Year 2010 budget request.
The FLAME Act is supported by the five living former Chiefs of the Forest Service, the Western Governors' Association, the American Forest and Paper Association, the National Association of State Foresters, the National Association of Counties, members of the Rural Voices for Conservation Coalition, the National Federation of Federal Employees, the Wilderness Society, the National Parks Conservation Association, and almost 40 other organizations.
Amendments to H.R. 1404 - Federal Land Assistance, Management and Enhancement Act:
Rahall (WV), Would strike from the bill the Sense of Congress language on the designation of Flame Fund appropriations as emergency spending. (10 minutes)
Perlmutter (CO), Would clarify that authorized suppression activities for the Flame Fund include containment activities in response to crisis insect infestations to reduce the likelihood of wildfires. (10 minutes)
Polis (CO), Would require revisions of the cohesive wildland fire management strategy at least once every five years. (10 minutes)
Hastings, Doc (WA), Would require advance notice, in writing, to adjacent landowners whenever the Department of Agriculture sets a prescribed fire on National Forest System land. (10 minutes)
Hastings, Doc (WA), Would require the review of certain wildfires specified in the bill to include an assessment of what actions, if any, could have been taken in advance of the fire that may have prevented the fire or at least reduced the severity of the fire. (10 minutes)
Hastings, Doc (WA), Would require the review of certain wildfires specified in the bill to include an assessment of the quantity of greenhouse gases produced as a result of the fire. (10 minutes)
Heinrich (NM), Would require the cohesive wildland fire management strategy required in the bill to include among its elements a system to assess the impacts of climate change on the frequency and severity of wildland fire. (10 minutes)
Minnick (ID), Would require that the Secretaries, in considering severity of and threat posed by a fire for the purposes of determining whether to declare that a wildland fire suppression activity is eligible for funding from the Flame Fund, take into account areas where insect infestation has created an extreme risk for wildfire.
(10 minutes)
Luján (NM)/Markey, Betsy (CO)/Connolly (VA), Would require the cohesive wildland fire management strategy required in the bill to include among its elements a system to study the effects of invasive species on wildland fire risk. Would add to the list of eligible uses for cost-share grants provided for in the bill implementation of fire-safety programs focused on the eradication or control of invasive species. (10 minutes)
Matheson (UT), Would require the cohesive wildland fire management strategy required in the bill to include among its elements a plan, developed in coordination with the National Guard Bureau, to maximize the use of National Guard resources to fight wildfires. (10 minutes)
Roskam (IL), Would prohibit obligation of funds in the Flame Fund until 30 days after the submission by the Secretaries of the Interior and Agriculture of an initial estimate of anticipated wildfire suppression costs for the current and following fiscal year. (10 minutes)
Kirkpatrick (AZ), Would amend the definition of "fire-ready community" in the bill to provide that a community satisfies the definition if it is located within a priority area identified by the fire risk maps required by the bill, and meets two of the other four criteria listed in the bill for "fire-ready communities." (10 minutes)
Goodlatte (VA), Would authorize the Secretary of Agriculture to enter into contracts or cooperative agreements with a State Forester to prepare and implement "good neighbor" projects on National Forest System land to complement any similar project being performed on bordering or adjacent non-Federal land. Would provide that the decision to proceed with a good neighbor project is in the Secretary's sole discretion. Defines good neighbor projects to include certain fuels reduction projects. (10 minutes)

Quote of the Day
“We must go beyond textbooks, go out into the bypaths and untrodden depths of the Wilderness and travel and explore and tell the world the glories of our journey.”

- John Hope Franklin

The Office of the House Majority Whip | H-329, The Capitol
Washington, DC 20515 | p. (202) 226-3210 | f. (202) 225-9253


DOE Fossil Energy NEWSALERT
--------------------------

Research sponsored by the U.S. Department
of Energy Oil and Natural Gas Program has
found a way to distinguish between groundwater
and the water co-produced with coalbed natural
gas, thereby boosting opportunities to tap
into the vast supply of natural gas in Wyoming
as well as Montana. For more details, link
to the Energy Department's Fossil Energy Web
site at:

http://www.fossil.energy.gov


Celebrate Apollo: NASA Commemorates the 40th Anniversary
Wed, 25 Mar 2009 23:00:00 -0500
NASA is planning a number of activities and events in 2009 as America nears the 40th anniversary of the first moon landing on July 20. The events will celebrate the Apollo Program, its accomplishments, and the benefits to our lives today.

Tampa Press Releases for Federal Bureau of Investigation

This information has recently been updated, and is now available.


NRC to Discuss 2009 Performance Assessment for Byron Nuclear Power Plant Unit 1 and 2
VACANCY: 09-148, Attorney Advisor, CT-0905-11/12/13/14 CTFC
Division of Market Oversight, Washington, DC
Closes April 7, 2009

Louisville Press Releases for Federal Bureau of Investigation

This information has recently been updated, and is now available.


South and Central Asia: Daily Press Briefing - March 26
Thu, 26 Mar 2009 13:25:41 -0500
Gordon Duguid

Acting Deputy Department Spokesman
Daily Press Briefing

March 26, 2009


Africa: Daily Press Briefing - March 26
Thu, 26 Mar 2009 13:25:41 -0500
Gordon Duguid

Acting Deputy Department Spokesman
Daily Press Briefing

March 26, 2009


FLOOR SCHEDULE FOR THURSDAY, MARCH 26, 2009
House Meets At… Last Vote Predicted…

10:00 a.m.: Legislative Business

Five “One Minutes” Per Side 1:00 – 2:00 p.m.

H.R. 1404 - Federal Land Assistance, Management and Enhancement Act (Rep. Rahall – Natural Resources) (Complete Consideration)
Rahall Amendment (10 minutes)
Perlmutter Amendment (10 minutes)
Polis Amendment (10 minutes)
Hastings (WA) Amendment (10 minutes)
Hastings (WA) Amendment (10 minutes)
Hastings (WA) Amendment (10 minutes)
Heinrich Amendment (10 minutes)
Minnick Amendment (10 minutes)
Luján/Markey (CO)/Connolly Amendment (10 minutes)
Matheson Amendment (10 minutes)
Roskam Amendment (10 minutes)
Kirkpatrick Amendment (10 minutes)
Goodlatte Amendment (10 minutes)


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