Forget California's huge budget deficits, high unemployment levels and nasty political campaigns. One of the most polarizing issues in the Golden State today is about a proposal to ban Happy Meals toys in San Francisco.
Lehman Brothers Holdings, the once great Wall Street firm that went bankrupt at the height of the financial crisis, says it will have to pour hundreds of millions of dollars into two struggling units to avoid failures that could cost the investment bank billions.
A bill that passed the House of Representatives on Friday would, among other things, eliminate the $75 million cap on liabilities related to oil spills. The overhaul of the nation's offshore drilling regulations would require oil companies to pay the full cost involved with any spills.