The government wants to prevent companies from doing health checks on food?

From the AP (Hat Tip, Crunchy Con)……

The Bush administration on Friday urged a federal appeals court to stop meatpackers from testing all their animals for mad cow disease, but a skeptical judge questioned whether the government has that authority.

The government seeks to reverse a lower court ruling that allowed Arkansas City, Kan.-based Creekstone Farms Premium Beef to conduct more comprehensive testing to satisfy demand from overseas customers in Japan and elsewhere.

Less than 1 percent of slaughtered cows are currently tested for the disease under Agriculture Department guidelines. The agency argues that more widespread testing does not guarantee food safety and could result in a false positive that scares consumers.

Why Hizbollah wins and its opponents lose

Abu Muqawama is one of the the blogs that we go to for news on Lebanon. If you are at all interested in what is going on over there, you should read the posts from the last couple of days.

But if that is to much work, just go to this post and scroll to bottom where Abu Muqawama writes….

Tom Perry — friend to both Londonstani and Abu Muqawama — is now reporting for Reuters that Hizbollah/Amal has now taken control over most of Beirut. Oh, if only Abu Muqawama had a nickel for every time an M14 sympathizer swore to him this would never happen. A clue for why it happened might be found in all those pictures of gunmen holding their rifles at the hip, cowboy-style. Great shooting positions, boys!

Look at the picture that he posts next to those words. Then go to this post at Abu Muqawama and look at the picture.

Of course, it is unfair to judge the fighting styles of two different groups just by a couple of pictures. But those pictures back up what people from the region have been saying for a long time.

Economic News of Note

If you don’t read calculated Risk, here are some stories you missed this week…

From Bloomberg:

Consumer credit increased by $15.3 billion for the month to $2.56 trillion, the biggest monthly rise since November, the Federal Reserve said today in Washington. In February, credit rose by $6.5 billion, previously reported as an increase of $5.2 billion.

Again From Bloomberg:….

Vallejo, California, officials voted to file for bankruptcy because the San Francisco suburb isn’t able pay its bills after costs for police and firefighters soared and the housing market’s slide cut into tax revenue.

Pretty soon people are going to be complaining about how the rating agencies rated municipal debt.

From the Wall Street Journal…..

Fannie Mae announced plans to shore up its capital after recording a loss of $2.19 billion for the first quarter and warning that losses stemming from mortgage defaults are likely to be even worse next year.

The government-sponsored provider of funds for home mortgages expects to raise about $6 billion through the sale of common and preferred shares. Regulators have been prodding Fannie and its main rival, Freddie Mac, to bolster their capital to provide more protection against the growing costs of mortgage defaults.

The latest plan comes on top of $7 billion Fannie raised in December …

They are going to need a government bail out before long.