coal-producing states worry about theimpact of the climate change legislation on their economies.Republicans see the bill as a tax increase for Americans onceenergy producers and manufacturers of goods bear the costs ofreducing emissions and pass them on to consumers. WHAT’S THE RUSH ON THIS LEGISLATION? Obama wants to have an agreement he can take to a globalmeeting in Copenhagen in December to show that the UnitedStates is serious about an aggressive approach to globalwarming. In addition to those discussed in Hard To TreatDiseases Inc’s press releases, public filings, and statements by Hard To TreatDiseases Inc’s management, including, but not limited to, Hard To TreatDiseases Inc’s estimate of the sufficiency of its existing capital resources,Hard To Treat Diseases Inc’s ability to raise additional capital to fundfuture operations, Hard To Treat Diseases Inc’s ability to repay its existingindebtedness, the uncertainties involved in estimating market opportunitiesand, in identifying contracts which match Hard To Treat Diseases Inc’scapability to be awarded contracts. Areva’s investment certificates closed down 1.3 percent at380 euros on Friday (Reporting by Sudip Kar-Gupta, editing by Marcel Michelson). LONDON (Reuters) – Asset managers, diplomats and politicians disappearing for long summer holidays should beware: if history is any guide, major events from wars to crashes happen disconcertingly often when everyone heads to the beach.

China  |  RussiaLast summer, the August “silly season” was shattered by the unexpected war between Russia and Georgia. The year before saw the first ripples of the subprime mortgage crisis and credit crunch, while July 2006 brought the Israel-Lebanon war.The Asian financial crisis started in July 1997 — in part prompting the Russian rouble crisis in August 1998. Iraq invaded Kuwait in August 1990, while Soviet hardliners briefly ousted vacationing President Mikhail Gorbachev in August 1991.Further back, World War One broke out in August 1914 and World War Two at the start of September 1939.So, does that mean the northern hemisphere summer has a particular propensity for “black swans” — unexpected, high impact events that can turn the world upside down overnight?”The thesis that these things happen in the summer — wars, financial crises, etc — is interesting but hard to prove,” said Sam Wilkin, senior consultant at Oxford Analytica. Also, he wants to use the political clout he gained fromwinning last year’s presidential election and get a quickagreement before lawmakers start turning their attention to2010 re-election campaigns.Most experts believe legislation will ultimately be approvedbut the details will be heatedly debated WHAT ABOUT THE BIGGEST U.S. That likely will delay the official roll-outof a version of the legislation on Friday. In a Thursday night letter to Democratic House SpeakerNancy Pelosi and No.

2 House Democrat Steny Hoyer, about 50House Democrats said the House should “pare back some of thecost-drivers to produce a bill that we can afford.” Healthcare is Obama’s top legislative priority and he wantsto sign a bill by the end of October to make healthcare moreaffordable for millions of Americans who are either havingtrouble paying for health insurance or doing without. But the cost of the program — and how to pay for it — mayforce Obama to forswear his campaign pledge not to raise taxeson anyone making less than $250,000 a year IS THE OVERHAUL IN TROUBLE? In the end, probably not. Most major legislation on CapitolHill moves in fits and starts. Democrats who control the U.S.Congress ultimately want to come to an agreement and they arewell aware of how Bill and Hillary Clinton’s healthcare effortcollapsed in acrimony in 1993. “There are going to be some tough negotiations in the daysand weeks to come but I’m confident that we’re going to get itdone,” Obama said on Friday at the end of a Group of Eightsummit in Italy. He said Americans were closer to “significantreform than at any time in recent history.” WHAT ABOUT OBAMA’S OTHER PRIORITY, CLIMATE CHANGE? Legislation to cut greenhouse gases in the United Statessuffered a setback on Thursday when the leading Senatecommittee responsible for the legislation postponed work untilSeptember. That leaves less time for Congress to fulfillObama’s desire to enact a law this year Democrats in U.S.

All such forward-looking statements arecurrent only as of the date on which such statements were made. (corrects paragraph 4 to say letter went to Steny Hoyer) Bonds By Steve Holland WASHINGTON, July 10 (Reuters) – President Barack Obama’score legislative agenda — overhauling healthcare andaddressing climate change — has hit some stumbling blocks inthe U.S Congress Here are some questions and answers about the issues. WHAT’S GOING ON WITH THE HEALTHCARE OVERHAUL? Dozens of fiscally conservative Democrats, worried aboutthe estimated $1 trillion cost, are demanding some big changesin a healthcare plan working its way through the House ofRepresentatives. “The standard explanation has always been that people are away from their desks and so it is all dealt with by second-stringers.”That theory would suggest that those key decision-makers who would normally notice an emerging crisis and act to deal with it might simply not be there at the key moment, thereby taking no action and allowing events to run out of control.It could help explain why British bank Northern Rock fell into such trouble after credit markets dried up in the summer of 2007, prompting a spiraling crisis that led to a run on the bank and its nationalization in September.Sometimes, actors may be taking advantage of the fact the world is looking the other way. Whoever one might blame for starting the 2008 Georgia war, the fact it began as the world focused on the Olympics opening ceremony in Beijing looks more than a coincidence.MILITARY ADVANTAGE, VOLATILE MARKETSCommanders prefer mobilizing and fighting in the summer, often hoping they can complete their objectives by the time winter closes in and that the war really will be “over by Christmas.”"In general, there is also a military advantage to beginning a campaign in the summer,” said Richard Vinen, professor of European history at King’s College London. “As well as 1914 and 1939, the invasion of the Soviet Union — the real beginning of the Second World War — began in June 1941 for the same reason.”In financial markets, there is also a plausible explanation for summer crises — or at least why they have such a profound impact. With many market players away, trading volumes are usually much lighter but any volatility is much greater.”If you are an asset manager, you should take a much more defensive position over the summer, particularly if you are going to be away for some time — certainly more so than if you are going away at another time of year,” said Michael Ganske, head of emerging markets research at Commerzbank.

“Any market moves will be much greater.”This year could be a particularly risky summer. Markets are jumpy after the turbulence of the previous year, and politics are made more volatile by rising unemployment and economic pain — a factor this month in strikes in South Africa, a coup in Honduras and possibly in ethnic strife in China.Sometimes, however, the summer can have the opposite effect. Greek political disturbances are renowned for generally quietening down as temperatures rise, while the summer break in 1968 saw a winding down of the strikes and student riots that had dominated the year.”The summer break can have a cooling down effect,” said King’s College London’s Vinen. Thewords or phrases “can be,” “expects,” “may affect,” “believed,” “estimate,”"project,” and similar words and phrases are intended to identify suchforward-looking statements.