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Power Finance
29 ноября, 18:26

German minister praises French candidate Fillon’s economics

Germany’s powerful finance minister is praising conservative French presidential candidate Francois Fillon’s economic program as strong and says he hopes that far-right leader Marine Le Pen never becomes president in France.

07 сентября, 21:19

Minister Who Masterminded Mexican President Peña Nieto's Meeting With Trump Ousted

Mexican President Peña Nieto accepted the abrupt resignation of his powerful Finance Minister, who was instrumental in setting up the controversial meeting with Donald Trump.

29 июля, 12:15

Chuck Schumer's audacious prediction

Forget 2016: Democrats are on the cusp of a golden era, the incoming Democratic Senate leader says in a POLITICO interview.

05 декабря 2015, 00:59

How Google Is Cleverly Becoming Your Power Utility

It's quite fitting that while COP21 is going on in the background, with leaders and governments talking about climate change, Google announces 842MW of renewable energy purchased. While world leaders plan to make the world greener and promise money towards future research, Google is actually doing the work of moving us towards a greener more sustainable future. What you might not know is that Google's current renewable energy portfolio of ~$3Bn (investments and assets) makes it one of the largest renewable energy owning utilities in the world. Google has invested in Solarcity, Sunpower, Wind Farms in Carson County Texas, Jasper Power in South Africa, Clean Power Finance (a residential solar financing company) and runs several locations on hundreds of megawatts of clean energy with plans to run all it's facilities on renewables by 2025. That's more investments in renewables than even the most progressive US utility (in a glacial industry like the utility industry it's not quite hard to be called progressive)!! As with dinosaurs, what will kill you is not a bigger dinosaur. It is the meteorites you didn't even know were coming your way. Remember how Google powered Yahoo search? Guess who's wondering where the internet went now? What the utilities signing solar participation deals with Google don't seem to realize is that they have a powerful competitor on their hands. The industry forgets that Google had Powermeter (a dashboard for residential energy use management) that was shut down after 2 years it launched in 2010. What they don't know is that Powermeter was not a failed experiment, Powermeter was a 2 year beta test to learn things like how consumers only spend 6mins a year thinking about their energy (outside of paying their bills)! Sidenote: when Powermeter was shut down I sent an email to someone at Google trying to buy it for $10 or something ridiculous like that, I thought it would be a great 'win' for the company I'd founded then! Unsurprisingly I never got a response.. Still don't think Google is planning on becoming your utility? A few more indicators of intent: Nest: Unlike most analysts suggested, the Nest acquisition was not for data. It was the PowerMeter replacement with a product that actually manages the energy in your home rather than just measure and monitor the ~1400/year the average consumer spends. Most utilities are spending millions of dollars to own the connected home to hedge their future. While the utilities are trying to figure this out Google, through Nest and it's Google Fiber product in cities like Austin and Kansas City, already owns the Connected Home infrastructure layer...power over ethernet will get better. Toothpaste Test: Power (and energy) usage passes Larry Page's toothpaste test; Other than energy, I can't think of too many other things that you and I use all day and makes our lives better. Energy is probably the only thing left that passes this test that Google isn't currently involved in at scale. Power (the other one): What is more important than access to the internet for most of us? If you've read this far, you already guessed it; it's the energy that we use to power the devices that give us access to the internet. From Google's perspective why not control that too? From a systems perspective, one of the input flows for what makes our use of the internet possible is energy. Own the energy and you own another critical element in how you and I survive in this technology driven world we live in. Smart Cities/Infrastructure: Google is doing serious work, through Sidewalk (one of the few startups to have been spun out of Google), on smart city development and understanding. Energy is one of the 4 core elements of a smart city. The other three are policy, infrastructure and people. Google is making big and bold statements through investments in both energy and city infrastructure. Market Size: The global energy industry is one of the few Trillion Dollar opportunities left. It also just so happens that the product does not need customization in every new market you go into... These investments, these steps, are the elements of the long game where losses are incurred in the short-term (something the utility competitors cannot afford due to shareholder pressure) to lay the ground for long term competitiveness and outsize returns based on learnings from in-house experiments and external bets. It's the typical strategy for innovative companies. What would complete Google's move towards this inevitable future? It would be actually purchasing renewable energy and connected home assets of a utility. Or even the utility itself. One big one did just come up for sale... Now that's a #BigIdea... Coming soon! My ebook on systems thinking (and doing) for disruption. Sign up here! -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

Выбор редакции
27 ноября 2015, 18:40

China, Czech pledge closer nuclear power, finance co-op

Chinese Premier Li Keqiang and his Czech counterpart pledged to boost cooperation in nuclear power, finance and other sectors.

18 ноября 2015, 15:19

Индия продаст 10% угольной госмонополии за $3,2 млрд

Правительство Индии в среду одобрило продажу очередных 10% из 78,65% госмонополии Coal India Ltd., крупнейшей угольной компании мира, сообщает Bloomberg.

18 ноября 2015, 15:19

Индия продаст 10% угольной госмонополии за $3,2 млрд

Правительство Индии в среду одобрило продажу очередных 10% из 78,65% госмонополии Coal India Ltd., крупнейшей угольной компании мира, сообщает Bloomberg.

18 ноября 2015, 15:19

Индия продаст 10% угольной госмонополии за $3,2 млрд

Правительство Индии в среду одобрило продажу очередных 10% из 78,65% госмонополии Coal India Ltd., крупнейшей угольной компании мира, сообщает Bloomberg.

17 ноября 2015, 15:44

Britain to build cyber attack forces to tackle IS, hackers

CHELTENHAM, England (Reuters) - British spies are building elite cyber offensive forces to strike at Islamic State fighters, hackers and hostile powers, finance minister George Osborne said on Tuesday after warning militants wanted to launch deadly digital attacks.

17 ноября 2015, 14:03

FACT SHEET: Administration Announces 68 Cities, States, and Businesses Are Working Together to Increase Access to Solar for All Americans

Including Commitments to Scale Up Solar Access and Decrease Energy Bills in the Nearly 50 Percent of Households and Business that Cannot Install Solar Systems The Obama Administration is committed to addressing climate change, promoting clean energy, and creating good paying jobs.  That is why, at a National Community Solar Summit at the White House today, the Administration is announcing 68 cities, states, and businesses are joining together to promote community solar, with an emphasis on scaling up solar for low- and moderate- income households. Community solar allows multiple households and businesses to pool their resources and invest in shared solar systems to save on their energy bills. Today, private sector organizations are building on the initial commitments announced in July, bringing the total number of pledges to advance community solar and scale up solar and for low- and moderate- income households to more than 20,000 households and $545 million across 21states. Actions like the ones announced today, will help the U.S. transition to cleaner sources of energy faster and ensure the opportunity to access clean energy is available to those who need it most, putting the U.S. on a strong playing field to secure an ambitious climate agreement in Paris.    Since President Obama took office, the amount of solar power installed in the U.S. has increased nearly twenty fold. Since the beginning of 2010, the average cost of a solar electric system has dropped by 50 percent. However, nearly 50 percent of American households and businesses are renters or lack the capital and adequate roof space to install solar systems. Community solar has the potential to unlock economic growth across the United States while providing clean solar power to historically underserved communities and allowing them to benefit from the falling costs and increased deployment of solar. Low-income households, which spend four times greater proportion of their income on energy than the national median, can see significant benefits from community solar. Access to solar power could substantially reduce the energy burden of low-income households by providing stable electricity prices below local utility rates. STATE, LOCAL, AND PRIVATE SECTOR COMMITMENTS TO INCREASE ACCESS TO SOLAR ANNOUNCED TODAY Scaling Up National Community Solar Partnership Members: To unlock access to solar power for these Americans, in July the Administration launched the National Community Solar Partnership. The partnership is a collaboration between the Department of Energy (DOE), the Department of Housing and Urban Development (HUD), the Department of Agriculture (USDA), the Environmental Protection Agency (EPA), representatives from solar companies, NGOs, and state and local community leaders. The members work together to leverage the interest in the public and private sector to expand access to community solar, with an emphasis on low- and moderate- income households, while utilizing the technical expertise of DOE and its national laboratories. This includes working on greater utilization of existing federal and state resources, sharing of best practices at the state level, development of new financing arrangements and business models, new approaches to customer acquisition and community building, and multifamily deployment considerations. Today, we are announcing that, since July, more than 40 companies, organizations and universities have joined the effort to increase access to community solar, nearly tripling the number of partners to 68: 3Degrees – San Francisco, CA Amazon – Seattle, WA Arcadia Power – Washington, DC BARC Electric Cooperative – Millboro, VA Black Rock Solar – San Francisco, CA Bishop Paiute Tribe – Bishop, CA BlueWave Capital – Boston, MA Citi – New York, NY Clean Energy Collective – Louisville, CO Clean Energy Solutions – Boston, MA Colorado State Energy Office – Denver, CO Community Energy, Inc. – Radnor, PA Connecticut Green Bank – Rocky Hill, CT Cook County Department of Environmental Control – Chicago, IL District of Columbia Department of the Environment – Washington, DC Ecolibrium3 – Duluth, MN Elevate Energy – Chicago, IL Everyday Energy – Carlsbad, CA First Solar, Inc. – Tempe, AZ Fresh Energy – St. Paul, MN Global Green USA – Santa Monica, CA Grand Valley Power – Grand Junction, CO Greater Cincinnati Energy Alliance – Cincinnati, OH GRID Alternatives – Oakland, CA Groundswell – Brooklyn, NY Hawaii Department of Business, Economic Development and Tourism – Honolulu, HI Inovus Solar – Boise, ID Institute for Sustainable Communities – Montpelier, VT Interstate Renewable Energy Council – Latham, NY Massachusetts Clean Energy Center – Boston, MA Massachusetts, Dept. of Energy Resources – Boston, MA Meister Consultants Group – Boston, MA National League of Cities – Washington, DC Next Step Living – Boston, MA Northwest SEED – Seattle, WA Pedernales Electric Cooperative – Johnson City, TX Pfister Energy of Baltimore – Baltimore, MD Posigen – New Orleans, LA Razor Sharp Solar – Littleton, CO RE–volv – San Francisco, CA Rocky Mountain Institute – Boulder, CO RREAL – Pine River, MN Sacramento Municipal Utility District, - Sacramento, California State of California  State of New York Solar Energy Industries Association – Washington, DC Solar Electric Power Association – Washington, DC Solar Gardens Institute – Westminster, CO Solar One – New York, NY SolarCity – San Mateo, CA Solstice Initiative – Boston, MA Spear Point Energy – Aspen, CO SunShare – Denver, CO Sustainable Capital Advisors – Washington, DC Tucson Electric Power – Tucson, AZ TegDB – Richmond, TX The Solar Foundation – Washington, DC University of Houston – Houston, TX University of Maine – Orono, ME University of Minnesota – Minneapolis, MN U.S. Department of Agriculture U.S. Department of Energy U.S. Department of Housing and Urban Development U.S. Environmental Protection Agency Vermont Energy Investment Corporation – Burlington, VT Vermont Public Service Department – Montpelier, VT West Monroe Partners – Chicago, IL Vote Solar – Washington, DC Private Sector Companies Announcing Commitments to Increase Financing for and Deployment of Community Solar Across the Country: Today, private sector organizations are building on the initial commitments announced in July, bringing the total number of pledges to advance community solar and scale up solar and for low- and moderate- income households to more than 20,000 households and $545 million across 21 states. Clean Energy Collective (CEC) is announcing that it has developed the first program that allows investor-owned utilities to own and rate-base community arrays without non-participant subsidization or upward pressure on rates. This program builds upon its industry-leading efforts to partner with utilities in implementing community solar programs. Prompted by New York’s newly enacted shared renewables program, CEC is bringing community solar to New York, empowering residential and business consumers to tap the financial and environmental benefits of local shared renewable energy generation—regardless of income level, home or business location, or property ownership. Development is already underway on more than a dozen project sites from the five boroughs of New York City to upstate. Groundswell is committing to convene five community solar projects that will serve low- and moderate-income communities in the Mid-Atlantic and Southeast over the next 18 months. This builds on Groundswell’s seven years of experience educating, engaging, and organizing economically diverse households and small businesses to switch to affordable renewable energy. These projects will make solar available to the nearly 50 percent of customers who currently cannot access it, while also delivering more distributed generation capacity that promotes reliability, resiliency, and sustainability across the power grid. First Solar, Inc. and Clean Energy Collective, LLC (CEC) are announcing today that they are partnering on  an initial four community solar projects that will serve customers of Black Hills Energy (Pueblo, CO), CPS Energy (San Antonio, TX), Nueces Electric Cooperative (Corpus Christi, TX), and Holy Cross Energy (Rifle, CO). Combined, these projects introduce the concept of community solar to nearly one million potential residential users, many of whom would not be able to install solar on their own homes. RE-volv is announcing today the launch of a crowdfunding platform in early 2016 to finance solar energy systems for nonprofits and cooperatives. RE-volv recently won support from the U.S. Department of Energy's SunShot Initiative Catalyst program to develop the platform. This will allow them to build a revolving fund that will finance 200 community-based solar projects across the country over the next three years. Sustainable Capital Advisors is committing to deploy $25 million of private capital in order to finance community solar projects serving low- and moderate-income communities throughout the U.S. over the next 18 months. The project will focus harnessing the collective financial strength of diverse communities through aggregation and other pooling mechanisms. Solstice Initiative committing to deploy community solar to 1,000 Massachusetts households over the next year. This commitment builds on the Solstice Initiative’s ongoing Massachusetts pilots, which transform local organizations such as churches and workplaces into solar hubs, and which has already enrolled members in 1.5 megawatts of community solar. RREAL is committing to deploy 450 kilowatts (kW) of community shared solar for low-income households in Minnesota over the next 18 months. One of these community shared solar systems will be sited on tribal land. This commitment builds on the company’s success in community and low-income solar, having installed solar electric and solar thermal systems benefiting over 430 low-income households to date. Bath, Alleghany and Rockbridge Counties (BARC) Electric Cooperative is announcing that they are moving forward on building of their 500 kW of community solar facility, the first community solar installation in Virginia. Everyday Energy is committing to deploy 28 megawatts (MW) of shared solar PV to multi-family affordable housing properties throughout California over the next 12 months, utilizing virtual net metering that primarily benefits low-income renters. Vermont Energy Investment Corporation is announcing today a new commitment to deploy three or more community solar systems in Vermont over the next three years. This commitment builds on the launch of a new business subsidiary, Sun Shares LLC, which is aimed at using the innovative design strategies of community solar brought to the employer/employee benefit sector. Next Step Living is committing to generate at least 20,000 reservations for community solar arrays over the next 12 months. This commitment builds on successfully securing nearly 11,000 reservations to date. BUILDING ON EXISTING INITIATIVES AND RESEARCH The National Community Solar Partnership was formed in response to the research of the National Renewable Energy Laboratory’s (NREL’s) 2012 Guide to Community Shared Solar, which provides a framework for the development of this model for solar deployment in communities. The SunShot Initiative is also seeking applications for the next round of Small Business Innovation Research (SBIR) grants, which includes community solar. In addition, the Department of Energy’s SunShot Initiative is helping local governments and utilities create community solar programs through the following initiatives: Solar Powering America by Recognizing Communities (SPARC) is establishing a national recognition and technical assistance program for local governments to make their communities more solar-friendly and ignite local solar markets. The SPARC designation will spur communities across the country to earn recognition for achievements that distinguish them from their peers as they eliminate market barriers and reduce soft costs. SunShot Incubator program provides early-stage assistance to help startup companies cross technological barriers to commercialization while encouraging private sector investment. Three recent projects, from the Clean Energy Collective, Sunvestment Group, and Village Power Finance, are tackling the technological barriers of managing community solar projects. Solar Market Pathways program supports 15 SunShot projects that are advancing solar deployment across the United States. These projects take a variety of approaches to develop actionable strategic plans to expand solar electricity use for residential, community, and commercial properties. Seven projects are currently developing best practices and toolkits for launching community solar projects across the country. SunShot Catalyst Energy Innovation Prize is an open innovation prize challenge that aims to catalyze the rapid creation and development of products and solutions that address near-term challenges in the U.S. solar marketplace. The current prize cycle features two companies, SunSwarm and MapMySolar, which are building prototype systems to make it easier and faster to deploy community solar. Solar Utility Networks: Replicable Innovations in Solar Energy (SUNRISE) program is helping utilities develop adaptable and replicable practices, long-term strategic plans, and technical solutions to sustain reliable operations with large proportions of solar power on the grid.

12 ноября 2015, 21:14

Schäuble Accuses Merkel of "Careless Actions" Warns Germany Faces "Avalanche” of Refugees; Reckless not Careless

Wolfgang Schäuble, Germany's finance minister, and someone of high enough ranking to actually matter, has had enough of chancellor Angela Merkel's reckless refugee crisis.In his second attack on Merkel in a week, Schäuble Warns of Refugee "Avalanche". Germany may be facing “an avalanche” of refugees triggered by “careless” actions, Wolfgang Schäuble, the country’s powerful finance minister, has warned in a thinly-veiled criticism of his boss, chancellor Angela Merkel.“You can trigger avalanches when a rather careless skier goes on to the slope ... and moves a bit of snow,” said the 73-year-old finance minister at an economic conference on Wednesday evening. “I don’t know whether we are already at the stage where the avalanche has reached the valley or whether we are [still] on first third of the slope [and there is more to come].” It was Mr Schäuble’s second attack on Ms Merkel’s refugee policy in a week. On Sunday he defended interior minister Thomas de Maizière after Mr de Maizière was forced by Ms Merkel to withdraw plans for denying most Syrian refugees rights to bring their families to Germany.Mr Schäuble’s intervention helped to force the issue back on the agenda — and gave Mr de Maizière backing to continue arguing for it, notably in a Bundestag speech on Wednesday, when the interior minister said: “We cannot double or triple our high refugee numbers through family reunion.”In a sign of the pressure Ms Merkel faces, officials confirmed this week that on October 21 Mr de Maizière had — without telling the chancellor — reimposed the so-called “Dublin rules” for Syrians. The EU regulations allow a country, such as Germany, to return refugees to the member state in which they first arrived in the union. The suspension of these rules was the key technical change Ms Merkel made with her “refugees welcome” announcement this summer. Ms Merkel’s power is being undermined by the challenges to her refugee policy. Still, few CDU/CSU sceptics seem prepared to seriously question her leadership, focusing instead on pushing her towards a harder line.She and Mr Schäuble worked closely as Berlin led Europe’s response to the Greek crisis. But a rift emerged over the country’s most recent €86bn bailout, with Mr Schäuble taking a harder line and, some believed, even agitating for a Grexit.If Ms Merkel were forced out, Mr Schäuble’s allies see him as a likely successor: he is Germany’s second most powerful leader and an increasingly critical voice on refugee policy.Mr Schäuble has repeatedly sworn his loyalty to Ms Merkel. But MPs say he cannot forget that he was groomed for the top job for years by former chancellor Helmut Kohl only to find himself embroiled in 2000 in a party financing scandal. That opened the way for the previously little-known Ms Merkel to take over the CDU party and, later, the chancellery.Reckless not CarelessMerkel's policies are not careless, they are downright reckless. A skier who does not know of avalanche dangers is careless. A skier who does know of the dangers and skies anyway is reckless. Similarly, accidentally not paying attention while driving is careless, texting while driving is reckless.   Merkel has intentionally disregarded repeat warnings regarding inane political decisions. She is reckless.Schäuble Misses Boat as WellSchäuble misses the boat as well. As I pointed out before, a policy announcement denying families the right to hook up later, is a message "Bring the Wife and Kids Now, While You Can".Merkel's symbolic actions to replace cash assistance with vouchers for food and shelter are as useless. When you have no food and no shelter, you are going to spend free money on food and shelter. In essence, vouchers are nearly as good as cash, just less flexible.As for interior minister Thomas de Maizière's plan to "return refugees to the member state in which they first arrived in the union" he and Schäuble need to think ahead. I ask what the hell is Greece supposed to do with 2 million refugees? Can't anyone in Germany look ahead?Obviously the EU's border policy rules of requiring refugees to register at the place of first entry is broken beyond repair. That has led to fence building all over the place except where a fence is desperately needed: between Turkey and Greece, and between Turkey and Bulgaria. Those two badly needed fences will block all land access to the EU.As late as November 5 Merkel Reaffirmed "Refugees Welcome" Policy Over Her Own Party's Objections.Discussion of Merkel's incompetence would not be complete without mocking her pledge to relocate 160,000 refugees from Greece and other small states incapable of handling the refugee flow.For details, please see EU Pledged to Relocate 160,000 Refugees in One Year - Results So Far, 147 in Three Months.Do you see the irony? Germany pledged to spread around refugees in Greece, but now Mr. de Maizière reinstituted rules allowing Germany to return refugees to Greece!Comprehensive SolutionTo date, I believe I am the only one who has outlined a comprehensive solution to this madness.Mish Proposed StrategyBlock the border between Greece and Turkey.Block the border between Bulgaria and Turkey.Stabilize Syria, even under Assad, but also seek promises of free Syrian electionsEliminate the free handouts.Give Turkey some aid for US/UK role in this mess.Stabilize Syria. Halt all US support for alleged "moderate" Al Qaeda rebels. Instead, arm the Kurds now fighting ISIS.Peak MerkelOn September 18, I coined the phrase "Peak Merkel".Today, Wolfgang Schäuble, Germany's finance minister, confirmed my analysis.Mike "Mish" ShedlockMike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

14 октября 2015, 00:48

Clinton crushes it

But Sanders recovers after a rocky start in the first Democratic debate.

01 октября 2015, 22:39

The Bipartisan Push To Unwind Mass Incarceration Has A Terribly Long Way To Go

(function(){var src_url="https://spshared.5min.com/Scripts/PlayerSeed.js?playList=519123599&height=&width=100&sid=577&origin=undefined&videoGroupID=155847&relatedNumOfResults=100&responsive=true&ratio=wide&align=center&relatedMode=2&relatedBottomHeight=60&companionPos=&hasCompanion=false&autoStart=false&colorPallet=%23FFEB00&videoControlDisplayColor=%23191919&shuffle=0&isAP=1&pgType=cmsPlugin&pgTypeId=addToPost-top&onVideoDataLoaded=track5min.DL&onTimeUpdate=track5min.TC&onVideoDataLoaded=HPTrack.Vid.DL&onTimeUpdate=HPTrack.Vid.TC";if (typeof(commercial_video) == "object") {src_url += "&siteSection="+commercial_video.site_and_category;if (commercial_video.package) {src_url += "&sponsorship="+commercial_video.package;}}var script = document.createElement("script");script.src = src_url;script.async = true;var placeholder = document.querySelector(".js-fivemin-script");placeholder.parentElement.replaceChild(script, placeholder);})(); WASHINGTON - A new bipartisan overhaul of the criminal justice system would slightly reduce sentences for a small number of prisoners who meet strict criteria laid out in the package. Because it will not eliminate mandatory minimum sentences, as some advocates had hoped, the reform will likely do little to dent mass incarceration in the United States, though advocates are hailing it as a major step in the right direction. The watered-down proposal is the result of compromises needed to win the support of Judiciary Committee Chairman Chuck Grassley (R-Iowa), a longtime hardliner on criminal justice policy, according to one source close to Grassley and another who cosponsored the legislation.  "We didn’t start off in the best of circumstances. Sen. Grassley was very skeptical, and said so publicly," Sen. Dick Durbin (D-Ill.) said Thursday. "There are parts of this bill I would have written a lot differently. There are parts of this bill he would have written a lot differently." "This proposal is a step forward, but I advised groups working on the issue for more than a year that this is the most they will get with the strategy they were using," said one person familiar with Grassley's thinking on the issue. The person argued that without showing Grassley that Iowans had moved on this issue and were being impacted by it, he'd be hard to turn around.  The proposal makes modest reforms to draconian mandatory minimum sentences for drug offenders. It would reform the controversial “three strikes” law, making it so that offenders with two prior drug or violent felonies do not automatically face a life sentence on their third offense, but 25 years. Right now, any prior drug felony can trigger enhanced minimum sentences, but the bill would limit this to “serious” drug and violent felonies. This part of the proposal can be applied retroactively. The package also attempts to deal with "stacking," which can pile consecutive 25 year sentences on a defendant for different parts of the same crime. A Utah man famously had two 25-year sentences stacked on top of each other, and enhanced with another five, to wind up with a 55-year penalty for selling weed. In the proposed legislation, those minimums would be reduced from 25 to 15 years and could no longer be stacked. Fifteen years for such an offense is better than 55, but also signals just how far the system still has to go. The package expands the scenarios in which judges can issue sentences below the mandatory minimum. But the exceptions are very narrow, mainly applying to drug offenders with non-serious criminal records who didn't play leadership roles in the offenses. One new safety valve, for example, still requires offenders to meet stringent criteria, including not being “a member of a continuing criminal enterprise,” cooperating with the government and not using a firearm.  The compromise finally came together Wednesday, Durbin said. "Yesterday morning on the floor of the Senate, Cory Booker, Chuck Grassley and I stood together and had the last handshake on the last provision," he said. Grassley was under pressure at home from the Des Moines Register, faced a grassroots push to moderate his hardline stand and was the subject of intense lobbying by his colleagues. The top Democrat on the committee, Sen. Pat Leahy of Vermont, said Thursday he agreed to get on board when many of the reforms were made retroactive.  Sen. John Cornyn (R-Texas), a former prosecutor and the No. 2 Republican in the chamber, is a cosponsor of the bill and had long pushed for it to address mandatory minimums in a more robust way. Rolling back such penalties had broad bipartisan support, yet at the insistence of Grassley, the final bill even includes new mandatory minimums for domestic violence and arms trading offenses.  The new minimums are a window into how mass incarceration grew to such heights in the first place. No politician wants to oppose tough penalties for spousal abuse or arms dealing; one year leads to another and before long, two million people are behind bars. Grassley said at a press conference Thursday that those two new minimums were important to him. "It looks like a relatively small mouse to come out of such a big mountain, but it's something," said Mark Kleiman, a professor of public policy. "The debate in Washington has nothing to do with reality. Although it's not nothing: The federal system alone would be the biggest or second biggest state system, so it's not unimportant." The problem for Congress is that while it has authority over federal prisons and sentencing, the majority of those locked up are in state and local confinement. The federal prison population differs in significant ways from state prisoners and has a higher concentration of drug offenders and nonviolent criminals. Of the roughly 205,000 federal inmates, nearly half are in for drug offenses and another 1 in 10 are locked up for immigration offenses. That gives the legislation a better chance to help the population it applies to, but if it is copied at the state level, it will have diminished impact. "Most of this federal stuff matters as it influences state policy," said Kleiman. "In the federal system, nonviolent drug offenders actually matter. At the state level they simply don't." The compromise, however, may have been required to get something done. Obtaining Grassley's support gives the package a strong chance of moving through the Senate. Its prospects in the House are uncertain but it's not implausible that the package could become law.  The compromise is also a consequence of the sustained rhetoric around mass incarceration. While the language around criminal justice reform has gravitated toward "nonviolent drug offenders," the overwhelming majority of people in prisons and jails across the country are there for offenses categorized as violent that would disqualify them from relief under the bill. Mass incarceration is not primarily driven by nonviolent drug convictions, but rather by extremely long mandatory sentences doled out for crimes classified as violent. Often, there is an interplay between the two: a drug charge that is accompanied by a gun charge adds many years to a sentence. Few politicians, organizations or pundits are willing to stand up for people in prison for violent crimes, including crimes classified as violent that didn't result in any physical harm to another individual, such as gun possession, burglary or other property crimes.  "Sen. Grassley has long said that he was willing to have a conversation with his colleagues on a thoughtful approach to sentencing reform that didn't simply slice sentences across the board. His colleagues took him up on that offer. Grassley led months of bipartisan negotiations to get to this point," said Taylor Foy, a spokesman for Grassley.   Chairman Grassley was born in 1933 and was elected to the Senate in 1980. That amount of seniority may make him ill-equipped to adapt to the new climate around criminal justice, but it gives him outsized power in the Senate. In an unfortunate twist of fate for the millions of people incarcerated, Grassley ought not even be chairman of the committee that oversees criminal justice. By seniority, he could have taken the gavel of the more powerful Finance Committee. But had he done so, Sen. Orrin Hatch (R-Utah), himself born in 1934, wouldn't have been able to chair any of the Senate's significant committees. To help out Hatch, Grassley took one for the team and agreed to chair Judiciary. For that gentlemanly act, the criminal justice reform bill was dramatically weakened. "Obviously, I would have liked to have gone further but this is a negotiation and the progress that we have in this bill is extraordinarily significant," Sen. Cory Booker (D-N.J.) told The Huffington Post. Booker said he would like to return a lot more judicial discretion, perhaps eliminating some of the mandatory minimums or at least reducing them to a greater extent. But he said the proposal is nonetheless a “pretty significant demonstration” of Grassley’s commitment to reform. "I feel a lot of gratitude towards him today."  “This bill isn’t the full repeal of mandatory minimum sentences we ultimately need, but it is a substantial improvement over the status quo and will fix some of the worst injustices created by federal mandatory sentences,” said Julie Stewart, president of Families Against Mandatory Minimums, in a statement. Kleiman, though, said that a provision of the bill that would allow prisoners to serve some of their pre-release time in alternative forms of custody had the potential to revamp the system. He has previously proposed a graduated re-entry system, whereby prisoners would slowly be given and earn new freedoms. Massachusetts, he notes, currently sends prisoners directly from a super max to the street when their term ends. "Right now we push the guy out the gate with 40 bucks and a bus ticket and say good luck to you and the Red Sox," he said. "It's insane." Sign up to get an email when reporter Ryan Grim publishes a new story. 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15 августа 2015, 15:54

Greece and the euro: A third bail-out gets the green light

A MONTH ago Greek membership of the euro was in peril, as Wolfgang Schäuble, Germany’s powerful finance minister, argued that Greece should leave the monetary union for at least five years in what he euphemistically called a “time out”. Any such exit, which would almost certainly have turned out to be permanent, would have undermined a founding principle of the monetary union—that those joining the euro do so irrevocably. Even after euro-zone leaders meeting at a crucial summit managed to agree upon a framework for a bail-out agreement on July 13th the chances of it actually being concluded and avoiding a “Grexit” seemed slim. Mr Schäuble made clear in the following week that he still thought Greece should be temporarily expelled from the euro while Alexis Tsipras, the Greek prime minister, said he did not believe in the agreement he had just made at the summit.Yet, on August 14th, the Eurogroup of euro-zone finance ministers gave the green light to the bail-out, the third since May 2010, in which Greece will get up to €86 billion ($95 billion) in rescue funding over the next three years. The next hurdle is getting the consent of the German Bundestag, but this is unlikely to be a problem since the bail-out now has the support of Mr Schäuble. Even if national parliaments in smaller countries were to balk at the agreement this would not derail it because the voting ...