(WDCpix)

(WDCpix)

This week Minnesota’s members of Congress went back to work after the July 4 break, except for Sen. Al Franken who was showing up — finally — for the first time. Rep. Keith Ellison put forward a credit reform bill, Rep. Betty McCollum announced her plan to expand the Peace Corps, and Republicans criticized the Democrats’ energy and stimulus policies. Here’s how the week shook down:

Rep. Keith Ellison introduced legislation to reform credit rating agencies on Wednesday. “When these agencies put their mark of approval on complex products they confer a legitimacy that may not actually exist,” he said. “We’ve learned of instances where credit rating agencies have given top ratings to products backed by dubious mortgages and other loans. Under current law there was really no one looking over the agencies’ shoulders to make sure that they were making reasonable assumptions or had even a basic understanding of the risks they were assessing.”

Rating agencies are currently subject only to limited oversight by the Securities and Exchange Commission (SEC), but are critical elements of the financial system.

Rep. Michele Bachmann sent a video to people attending the Tea Parties over the weekend; she was appointed to the Congressional Coalition on Adoption Institute’s Advisory Board; and she says that President Obama is destroying the American dream — or, rather, the American dreams of Chrysler auto dealers.

Rep. Betty McCollum is gearing up for a Congressional softball game. Proceeds from the game be donated to the Young Survival Coalition (YSC), a group that works to educate and support young women living with breast cancer.

McCollum also spoke passionately on the House floor on Thursday about expanding the Peace Corps.

[T]oday the Peace Corps, one of the most successful foreign policy initiatives, is at a crossroads. Peace Corps is not capable of meeting the demand of Americans of all ages who want to serve… We have an opportunity here today in this moment to reinvigorate Peace Corps for the next new century, but it’s going to take leadership from Congress. The President’s request simply was not enough, even though the President does propose to double, increase and fully fund Peace Corps out into the years.

Rep. James Oberstar is still pushing a $450 billion funding bill and $50 billion for high-speed rail. Also, Oberstar was in New York on Friday with Obama’s transportation secretary, Ray LaHood, to mark the 50th anniversary of the St. Lawrence Seaway, which is crucial to Duluth’s status as a seaport.

Rep. Erik Paulsen talked to the Eden Prairie News about the cap-and-trade energy bill working its way through Congress. “If we’re going to be serious about securing our energy future, we need to focus on having nuclear energy be a part of that,” he said.

Rep. John Kline penned an editorial for the website “America’s Right” slamming Obama’s stimulus policies. “Republicans are committed to pro-growth policies that will get our economy back on track without saddling future generations with unmanageable debt,” he wrote. “We offered a stimulus plan that would have created twice the jobs for half the price.”

But Media Matters says his statement doesn’t hold water: “[T]he GOP got its ‘twice the jobs’ claim by misusing a formula in an academic paper that they later admitted they weren’t able to understand in the first place.”

Sens. Al Franken and Amy Klobuchar split their votes on immigration policy, specifically on the border fence between the United States and Mexico. Franken voted against it. Klobuchar voted for it.

One of Franken’s first tasks as senator was to sign on to the Employee Free Choice Act, a pledge he’s made throughout his campaign. “I just became a cosponsor of my first bill in the Senate, the Employee Free Choice Act,” he said on Tuesday.