Obama’s Administration and Nuclear Polices

The announcement of a new campaign related to nuclear ambitions is expected by Obama administration that will be the new start of nuclear power production in the U.S. after a three long decade. It will begin with an $8.3 billion loan guarantee for Southern & Co. to build up the two new reactors in Georgia. The endeavor seeks to backstop a total of $55 billion in nuclear power plant loans, according to the Obama budget proposal. From what the recent news about the project, it sounds like possibly the perfect sort of infrastructure project that the government should be involved in it. The U.S. has been successfully using this energy source for a very long time. This project also gets a good grade. According to Reuters statements, it will create more than 3,500 construction jobs. It’s nice to see nuclear energy in the mix for U.S.

Overhauling financial rules is the one issue on Obama’s legislative agenda that appears still alive after Democrats’ devastating loss Tuesday in the Massachusetts Senate race. The White House is renewing Obama’s demand for an independent consumer financial protection agency as part of any overhaul. That’s one of the major sticking points in the Senate; the House has passed its version already.
Financial stocks led the latest pullback. Obama was to announce the plan for tougher regulation of the nation’s banks in remarks at 11:40 Eastern time, and analysts said some investors were nervously pulling money out of the market.

Analysts said concerns mounted about possible new restrictions on banks’ ability to trade using their own funds. Restricting some of these trades could hurt profits at big banks.

Broader concerns also dogged investors. Patrick Galley, chief investment officer at RiverNorth Capital in Chicago, said stocks have risen so fast in the past 10 months that expectations about an economic recovery are getting too high.

“The market can be quite fickle just because of the huge run-up that we’ve had,” he said. “A lot of folks have their trigger finger on the sell button if they start to sense that news won’t meet expectations.”

The market earlier was mixed as good earnings news was tempered by an unexpected jump in initial jobless claims. But banks, which have driven the market over the past year and a half, were the focus by late morning.

The Labor Department said workers filing for unemployment benefits for the first time rose by 36,000 to 482,000 last week. Economists polled by Thomson Reuters were expecting a small drop. The four-week average rose for the first time since August.

The report provided a grim reminder that while the economy might have improved modestly, a robust recovery is unlikely until companies start adding jobs. The unemployment rate remained at 10 percent last month.

Traders said weakness in manufacturing also brought concern that the economy might not be recovering as quickly as hoped. The Philadelphia Federal Reserve said manufacturing in its region fell in January from December. Its index of regional manufacturing conditions fell to 15.2 from a revised 22.5 last month.