Chambliss speaks on finance, oil spill - WALB.com, Albany News, Weather, Sports

Chambliss speaks on finance, oil spill

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  • Worth Co. hosts open house

    Worth Co. hosts open house

    Monday, July 28 2014 11:24 PM EDT2014-07-29 03:24:37 GMT
    It's already back to school time for some south Georgia students. Classes start tomorrow in Worth County.On Monday afternoon, all the schools held open houses for parents and students.At Worth County elementary, families got to met the teachers and get acquainted with the school.The Principal says the staff is ready, and parents told us they appreciated the open house."We are just going to keep going strong with things that we have done in the past, we had a very successful school year last y...More >>
    It's already back to school time for some south Georgia students. Classes start tomorrow in Worth County.On Monday afternoon, all the schools held open houses for parents and students.At Worth County elementary, families got to met the teachers and get acquainted with the school.The Principal says the staff is ready, and parents told us they appreciated the open house."We are just going to keep going strong with things that we have done in the past, we had a very successful school year last y...More >>
  • Lee Co. Woman speaks out about scary home invasion

    Lee Co. Woman speaks out about scary home invasion

    Monday, July 28 2014 11:20 PM EDT2014-07-29 03:20:11 GMT
    A Lee County woman says she'll think twice before opening her front door after a frightening home invasion.Tonya Stewart says Friday night a group of young people rushed inside her home and beat her up.Her husband ran to help. In the meantime, her 2-year-old niece suffered a busted lip.Stewart ended up with bruises and a black eye.“I just felt like my house was in danger and my life was in danger. I felt like I was gonna be killed or someone in my house was gonna be killed. I had a little gir...More >>
    A Lee County woman says she'll think twice before opening her front door after a frightening home invasion.Tonya Stewart says Friday night a group of young people rushed inside her home and beat her up.Her husband ran to help. In the meantime, her 2-year-old niece suffered a busted lip.Stewart ended up with bruises and a black eye.“I just felt like my house was in danger and my life was in danger. I felt like I was gonna be killed or someone in my house was gonna be killed. I had a little gir...More >>
  • Football coaches stress hydration as South Georgia heats up

    Football coaches stress hydration as South Georgia heats up

    Monday, July 28 2014 11:12 PM EDT2014-07-29 03:12:23 GMT
    Football is an intense, and grueling collision sport, and when South Georgia heats up, practice is even more stressful on the body."We don't wanna lose a kid because of the fact they are not hydrating themselves," says Monroe Head Coach Charles Truitt.That's why coaches stress the importance of staying hydrated on and off the field."We preach when they get home at night after football practice, to hydrate themselves and then we they get up in the morning hydrate themselves," says Truitt.After...More >>
    Football is an intense, and grueling collision sport, and when South Georgia heats up, practice is even more stressful on the body."We don't wanna lose a kid because of the fact they are not hydrating themselves," says Monroe Head Coach Charles Truitt.That's why coaches stress the importance of staying hydrated on and off the field."We preach when they get home at night after football practice, to hydrate themselves and then we they get up in the morning hydrate themselves," says Truitt.After...More >>

By Jim Wallace - bio | email

ALBANY, GA (WALB) –   Senator Saxby Chambliss says the new financial reform bill will hurt small South Georgia business.

He says small businesses like dentists, orthodontists, funeral directors, and other businesses that accept monthly payments, will feel the biggest impact of the regulatory reform legislation.

"Any retail establishment that charges any amount of interest on a monthly basis is going to be subject to huge federal regulations. That's not what we need to be doing in times when we are trying to create jobs in the small business community."

Senator Chambliss said the bill would do little to stop the lending practices that led to the economic crisis, because Freddie Mac and Fannie Mae, are exempted from the oversight.

Chambliss said the oil spill in the gulf may turn into one of the biggest and most expensive environmental disasters in U. S. history.

And even though British Petroleum does not have "bottomless pockets," he says the oil company will have to pay for the clean up.

Chambliss said investigations and study are needed to find out what caused the oil rig explosion, and then come up with plans to make sure it never happens again. 

"It's pretty obvious here that BP did not have a disaster plan in place. I fault BP for that. They are going to have to suffer for the financial consequences of that."

Senator Chambliss said federal authorities don't need to make "knee jerk decisions" on the gulf oil crisis, until they have had time to study what caused the spill and what it will take to clean the gulf.

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