Erika Eichelberger

Erika Eichelberger

Senior Editorial Fellow

Erika Eichelberger has written for The Nation, AlterNet, the Brooklyn Rail, EcoWatch and the Indypendent, and has interned at The Nation and Democracy Now!.

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Proposed Legislation Would Block Bank Execs From Regulating Banks

| Wed Jan. 9, 2013 1:09 PM PST

Four years after the financial crisis, and two years after "financial reform," top bank executives are still allowed to serve on the boards of regional Federal Reserve banks—institutions that are partially responsible for regulating the financial industry. People like Jamie Dimon, the JP Morgan Chase CEO whose term at the New York Fed just ended, have influence over whether banks get bailed out by taxpayers when they screw up. Dimon was on the New York Fed board during the 2008 financial crisis, and his bank got over $390 billion in low-interest emergency bailout loans from the Fed.

If liberal Senator Bernie Sanders (I-Vt.) has his way, all that may soon change.

Sanders announced Wednesday that he will reintroduce legislation to forbid financial industry executives like Dimon from sitting on any of the 12 regional Fed boards of directors.

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Will Thorium Nuclear Energy Save Us All?

| Mon Jan. 7, 2013 7:37 PM PST

Even in the wake of Hurricane Sandy, which half-drowned our biggest metropolis, Congress is still ostriching on climate change and thinking about chopping clean-energy programs as part of fiscal cliff, part II. Meanwhile, China, which has been leading the way on futuristic ideas from offshore wind energy to high-speed rail, is spearheading the development of nuclear energy derived from thorium, a naturally occurring radioactive element.

The Telegraph reports that the politically connected industrialist Jiang Mianheng is bankrolling a $350 million project at China's National Academy of Sciences to develop thorium power, which would be used to fuel molten-salt reactors, as opposed to old school uranium-fueled water reactors, and which would be much cleaner and meltdown-safe.

Fiscal Deal Could Make Health Insurance More Expensive

| Fri Jan. 4, 2013 1:38 PM PST

Conservative websites have been giddy in recent days because the fiscal deal President Barack Obama just signed repeals a piece of Obamacare—a long-term care program for the disabled that even the administration admits was not cost effective. But another section of the Affordable Care Act bit the dust at the same time, and consumers who will soon be required to purchase health insurance (i.e. everyone) should be none too happy about it.

The ACA established a federal loan program to subsidize nonprofit CO-OPs (consumer oriented and operated health insurance plans) so that these plans could participate in the new online health insurance exchanges with traditional plans. The goal: increasing competition and reducing costs for consumers. Half of the $3.8 billion allocated for the program has already been doled out to 24 nonprofits in 24 states, but the remaining $1.9 billion was slashed in the recent tax-cut deal.

Study: Cows Are 25 Percent Snake

| Thu Jan. 3, 2013 8:20 AM PST
snake-cow

You vaguely know how DNA works, right? You get it from your parents. Well, hold onto your britches, because scientists from down under are about to turn your world upside down.

A study by Australia's Adelaide and Flinders Universities and the South Australian Museum has found that in complex organisms, DNA is not only transferred from a parent to its offspring like your science book told you, but can also be "laterally" transferred between species. The research, published in the peer-reviewed Proceedings of the National Academy of Sciences in the US, involved comparing dozens of DNA sequences from different species. It found that cows inherited up to a quarter their genes from reptiles.

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