#4
Joe Farah was on Fox this morning saying he was there to investigate Obama's ties to the Kenyan president. He was also reportedly carrying a $1000 check from Farah to Obama's impoverished half-brother there.
The Kenya Government has decided to deport Dr Jerome Corsi, the author of a book critical of US Democratic presidential candidate Barack Obama.
Immigration officials have been holding him since Tuesday morning as he was due to launch the book, The Obama Nation: Leftist Politics and the Cult of Personality at Laico Hotel, Nairobi.
He was driven to the Jomo Kenyatta International Airport accompanied by an aide and he is on his way out of the country, according to a source.
#7
The book is largely seen as a smear campaign meant to undermine the Democratic candidate with charges that his criticism of Mr Obama is anchored on inaccuracies.
You gotta love the way Reuters reporters routinely insert their personal views into news reports.
The American author of a book critical of Barack Obama is being detained in Kenya while his immigration status is checked, a senior immigration official said Tuesday.
Jerome Corsi, who wrote "The Obama Nation: Leftist Politics and the Cult of Personality," was being held at immigration headquarters in Nairobi after police picked him up from his hotel Tuesday, said Carlos Maluta, a senior immigration official in charge of investigations. "We still haven't decided what to do with him," Maluta told The Associated Press. He said Corsi did not have a temporary work permit needed to conduct business in Kenya.
Obama is wildly popular in Kenya. His father, whom he barely knew, was a Kenyan economist.
Corsi's book claims the Illinois senator is a dangerous, radical candidate for president and includes innuendoes and false rumors that he was raised a Muslim, attended a radical, black church and is secretly seething with "black rage." Obama is a Christian who attended Trinity United Church of Christ in Chicago, and his campaign picks apart the book's claims on the Obama campaign's rumor-fighting Web site, FightTheSmears.com. Thanks for being subtle, AP.
According to a press release announcing Corsi's visit, he arrived last week at the invitation of Christian missionaries concerned about the rise of Islam. Corsi was planning to file daily dispatches all week, the statement said.
Obama's Kenyan uncle, Said Obama, said he was unaware of Corsi's detention.
Mauritanian security forces used tear gas to disperse anti-coup protesters late Sunday, a day before an African Union (AU) for the country to return to constitutional order was set to expire. A coalition of pro-democratic parties, the National Front for the Defense of Democracy, had called for a day of protest Sunday despite.
Posted by: Fred ||
10/07/2008 00:00 ||
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Stock markets across the Gulf continued to tumble Monday after a 'Bloody Sunday' of trading saw huge losses and credit conditions tightened, sparking fears that the Arab peninsula would be hit by the fallout in Europe and the United States.
In the Gulf's biggest stock market, Saudi Arabia, the leading TASI index plunged over 9 percent, while shares in big energy exporter Qatar fell 4.2 percent. In neighboring United Arab Emirates, Dubai's Financial Market crumbled almost 7percent, its lowest drop since March 14, 2006; while Abu Dhabi's index fell 5 percent.
Analysts said despite the $700 billion U.S. economic rescue package, passed earlier this week, there is an air of uncertainty as fears mounted that it may not be enough. "Uncertainty prevails despite the U.S. government passing the package and there is this lingering fear that the $700 billion may not be enough," the UAE's Gulf News quoted head of Al Dhafra Brokerage, Vyas Jayabhanu, as saying.
"Foreign institutions are heavily selling in the market. Some of them are exiting completely," says Amro Motasim, chief trader at Ahli Bank.
As markets slumped, credit tensions intensified and interbank lending rates in key Gulf states climbed, hitting levels not seen since late 2007 or early 2008. UAE one-month rates rose to 4.51875 percent while Saudi Arabia one-month rates hit 4.11750 percent.
In September, the UAE central bank said it would offer banks short-term funds through a 50 billion UAE dirham ($13.61 billion) facility in an emergency move to ease tensions in the money markets.
Posted by: Fred ||
10/07/2008 00:00 ||
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#1
There are financial bubbles all over the place eagerly waiting their turn to be burst. The US subpar housing loan crash didn't cause all these other bubbles. We've seen enormous growth in markets around the world for years. They are now resettling back to earth. Wish I had a little of Buffet's cash. I smell bargains in the air.
Posted by: Richard of Oregon ||
10/07/2008 9:02 Comments ||
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#2
Ya know, if $700 bn of US taxpayer money isn't enough, perhaps the super rich Gulf leaders can kick in a couple trillion.
#4
Just read an article in Financial Times about Pakistan squalling that they need an International Bailout to keep them from going bankrupt. They didn't give a number, but you should hold on to your socks when they finally ask for it, it's gonna be a big one.
#6
Remember, revolutions happen when a rising generation with economic expectations are suddenly and dramatically disappointed.
There'll be blood in the streets of the new cities of the Gulf over this. If I were an expat worker in the Emirates right now, I'd be beating feet for home.
Seriously.
Posted by: Mitch H. ||
10/07/2008 15:36 Comments ||
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#7
Mitch - I couldn't have said it better. The only people who should remain outside the US are those that are required to by their US GOVERNMENT job. The mobs aren't going to care who you are or where you're from when they start rampaging. Or maybe they will, and being an American will make one an even greater target. I especially expect to see bloodshed in Western Europe and North Africa.
Posted by: Old Patriot ||
10/07/2008 18:46 Comments ||
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#2
Inflation should be going down pretty soon now that oil is below $90 and dropping.
Posted by: Richard of Oregon ||
10/07/2008 8:52 Comments ||
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#3
Credit crunches are usually associated with deflation. Is Dhimmi al-Carter running the place?
Posted by: ed ||
10/07/2008 9:01 Comments ||
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#4
Inflation is of two types, consumables and assets. The bubbles we have seen were the result of asset inflation. The overextension of credit against these assets and the subsequent collapse of confidence in their value led to the credit crisis we are now enduring. To solve the problem, the Feds will pump money into the system, $1trillion so far, in an effort to reflate the asset values so that the assets value covers the amount lent. The result will be inflation in consumables as well, particularly as the low cost labor of China disappears in political disruption. Everyone will be screwed before this is over.
A Dhaka court yesterday issued arrest warrants against nine accused including former BNP ministers M Saifur Rahman, Aminul Haque and state minister AKM Mosharraf Hossain and former Jamaat minister Ali Ahsan Mohammad Mojahid in Barapukuria coalmine graft case.
Posted by: Fred ||
10/07/2008 00:00 ||
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#1
OTOH, WND this AM > ISLAMIC CLERIC: US WILL COLAPSE IN TWO DECADES, circa 2030 r.o. just in time for APOPHIS [2029-2036].
Speaking of APOPHIS, INTERFAX > SCIENTISTS SAY ROCKET CAN SAVE EARTH FROM ASTEROID COLLISION IN 2036.
It is the personal and moral-ethical duty, etc. of the present Generations to advise and warn those in the future - Unless the future OWG-NWO + GUAM desires Local-World Citizens to witness HORRIBLE EXPLOSIONS ON THE MOON = TERRA LUNA, BETTER MAKE SURE YOUR OWG ANTI-ASTEROID PLANNING INCLUDES CONTINGENCIES.
KARALETI, Georgia Russia accused the Georgian government on Monday of seeking to provoke new hostilities even as Russian peacekeepers were dismantling key checkpoints outside the separatist enclaves of South Ossetia and Abkhazia. Authorities in Abkhazia said that an Abkhaz border guard was killed Monday in an exchange of fire with gunmen on the Georgian side. On Friday, a car bomb in the South Ossetian capital, Tskhinvali, killed eight Russian soldiers and three Ossetian civilians.
Russia has said Georgia is responsible for these attacks and three others in the disputed territories in recent days. Russias foreign minister, Sergey V. Lavrov, made a formal appeal to his French counterpart, Bernard Kouchner, on Monday, asking the European Union to take necessary measures to stabilize the situation in keeping with its commitments.
A peace deal brokered by President Nicolas Sarkozy of France had set this Friday as the deadline for Russian troops to withdraw from the buffer zones outside the enclaves.
Shota Utiashvili, a senior official at Georgias Interior Ministry, denied any Georgian involvement in the attacks, saying that Georgia opposed any delay in the withdrawal. This a completely absurd accusation, he said.
In Karaleti, a village two miles north of Gori, ethnic Georgians passed freely through a Russian checkpoint where soldiers were busy winding up barbed wire, washing their clothes and packing their possessions.
Russian troops have been dismantling checkpoints for days, under the watch of some 200 European Union observers who began patrols in the buffer zone last week. Maj. Gen. Marat Kulakhmetov, commander of Russian peacekeepers in South Ossetia, said early Monday that the six southernmost posts would be removed within 24 hours.
The Organization for Security and Cooperation in Europe protested allegations printed in the Russian news media that the car that exploded in Tskhinvali on Friday had traveled into the area as part of an O.S.C.E. convoy. Ambassador Terhi Hakala, head of the organizations mission to Georgia, said she was outraged at the report. The spreading of untruthful propaganda about the mission which includes several previous entirely false accounts connected with O.S.C.E. staff and premises is a serious matter, endangers O.S.C.E. personnel and may be taken as a signal of unwillingness on the part of those responsible to work constructively, she said.
Posted by: Steve White ||
10/07/2008 00:00 ||
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#1
The colder it becomes Putin and his KGB thugs will invent another excuse for re-invading Georgia, with the objective of seizing the energy pipeline crossing southern Georgia.
Posted by: Mark Espinola ||
10/07/2008 3:34 Comments ||
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#2
Sounds familiar:: int. observers (of some kind) in, terrs get out of their holes.
#5
Remember, Putin is everything the crazed left says about Bush. I wouldn't put it past him to send his wetwork men in to kill a few conscripts to A) undermine his uppity underling Medvedev and B) blacken the reputation of the Georgians. Did they ever find the terrorists who blew up those Russian apartment buildings in the run-up to the second Chechnyan war?
Posted by: Mitch H. ||
10/07/2008 15:33 Comments ||
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#6
You're comparing the proverbial appples and oranges.
Mr. Ayers, if I understand correctly, is a domestic terrorist, and engaged in violent acts against his own government.
Also, if I understand correctly, the Russians invaded Georgia. Thus, if there are Georgians engaged in hostilities, however unwise and counter-productive, it is against a foreign force. Hence they could not exactly be classified as domestic terrorists, unless you consider Georgia to be part of Russia.
#2
Shades of CIA and AIDS. Congrats China, this means you have graduated to the big leagues.
Conspiracy theories about SARS have appeared before. After two Russian scientists said that SARS could have been manufactured in labs, Chinese activists pointed to the United States, saying Washington might be using it against China.
The truthiness is finally revealed. China, you are re-demoted to Uncle Sam's bitch.
Posted by: ed ||
10/07/2008 8:59 Comments ||
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WASHINGTON (AFP) -- China has canceled or postponed several military exchanges with the United States in protest against a proposed 6.5 billion dollar arms sale to Taiwan, a Pentagon spokesman has said. "The Chinese reaction is unfortunate and results in missed opportunities," said Major Stuart Upton.
Upton said senior level visits and exchanges involving humanitarian assistance, and disaster relief issues that had been scheduled to take place before the end of November, were canceled or postponed.
The Pentagon notified Congress Friday of 6.5 billion dollars in proposed arms sales to Taiwan, including advanced Patriot missile defenses, Apache attack helicopters and submarine-launched anti-ship missiles.
Chinese officials in Washington and Beijing "responded with displeasure to the US announcement," Upton said. "PRC officials have informed us that US-Chinese bilateral events may be affected," he said. Upton said there has been no change in US policy on arms sales to Taiwan and that the United States had faithfully abided by the US-Taiwan Relations Act, which provides for sales of defensive weapons to Taipei.
"We feel that the global security environment calls for US and PRC officials to maintain close relations to address common security challenges," he said. "Uncertainty over the motivations and direction of China's military expansion leads others to hedge," he said. "This could lead to a security environment less favorable to China's interests, the region's, and our own."
In protesting the proposed sales on Saturday, Chinese Foreign Ministry spokesman Liu Jianchao warned it would damage Sino-US relations, and called on Washington to call them off. "It is only natural that this move would stir up strong indignation of the Chinese government and people," he said, according to Xinhua. "We sternly warn the United States that there is only one China in the world, and that Taiwan is a part of China," Liu said.
The package includes 330 Patriot Advanced Capability (PAC-3) missiles and associated equipment worth up to 3.1 billion dollars. The advanced missile defense system has never been sold to Taiwan before. The Pentagon also is proposing selling Taiwan 30 AH-64 Apache Longbow attack helicopters and 1,000 Hellfire missiles to beef up its anti-armor capabilities, and for close air support of its ground forces. The helicopters are worth up to 2.5 billion dolllars, according to the Defense Security Cooperation Agency.
Taiwan has also asked to buy 31 UGM-84L submarine-launched Harpoon anti-ship missiles valued at up to 200 million dollars. It also requested 182 Javelin guided missiles with 20 Javelin command launch units worth 47 million dollars. The missiles are portable anti-tank weapons. Other proposed sales call for upgrading four E-2 Hawkeye aircraft and supplies of spare parts for fighter aircraft, transport planes, radar and communications equipment.
"The proposed sale will help improve the security of the recipient and assist in maintaining political stability, military balance, and economic progress in the region," the DSCA said. Congress has 30 days to raise objections to the proposed sales.
The announcements followed a visit to the United States this week by Taiwanese defense minister, Chen Chao-min, the first of its kind since 2002.
Posted by: Steve White ||
10/07/2008 00:00 ||
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#1
WORLD FORUM > ECONOMIC GLOBALIZATION, FIGHT AGZ TERRORISM ARE NOT ACCEPTABLE REASONS FOR NEW US IMPERIALISM IN ASIA; + NEW US ARMS SALES TO TAIWAN IS A SLAP IN THE FACE TO CHINA, + CHINA NATIONAL SECURITY BUREAU CHIEF [Tsai Chao-ming/Taiwan]: EVIDENCE EXISTS THAT CHINA'S SARS [PRC mainland] IS A BIOWARFARE AND CHEMICAL WAFARE AGENT [read, Proxy Attack agz PRC by foreign power(s) = US-West]; + MELAMINE POISONING SPREADS TO MAJOR VEGETABLE GROUPS + PRC GOVT MINISTRIES DEMAND FULL INVESTIGATIONS INTO FOREIGN ROLE IN MELAMINE POISONINGS.
*SAME > ANTI-AMERICANISM [ e.g. DENIAL OF DIPLOMATIC PAPERS-STATUS TO SECSTATE Diploms]]SPREADS TO SIX SOUTH AMERICAN NATIONS [Venezuela, Bolivia, Ecuador, Honduras, Nicaragua, Argentina]. HUGO calls for creation of NEW SOUTH AMER "REGIONAL AXIS". Jury still out as per BRAZIL.
#2
OOOPPSIES, forgot to add CHINA > TO STOP THE US AIRCRAFT CARRIER, CHINA INTENDS TO USE JH-7A BOMBERS IN COORDINATED STRIKES WID P-12 BALLISTIC MISSLES [Anti-Ship Ballistic Missles = ASBMS], plus other improved or advanced SRBMS, MBMS still Work-In-Progress.
*CHINESE MIL FORUM > ASIA TO SET UP US$80.0Bilyuhn FUND [ASEAN +3 Emergency Fund vee US Crisis]. SOKOR, CHINA. + JAPAN will pay for 80%, ASEAN to pay 10% of same.
#4
Someone needs to publicly rebuke them pointing out that the Chinese have the means already to buy Taiwan out. A hostile corporate merger without the need for an army, but lots of lawyers. I'm sure we can spare some of the smartest and wisest investment minds [strangely now available for travel and employment] to make it happen for them.
Iceland expressed disappointment on Tuesday that western allies had failed to provide support to help ease the countrys financial crisis, forcing it to turn to Russia for a 4bn loan.
We have not received the kind of support that we were requesting from our friends, said Geir Haarde, prime minister. So in a situation like that one has to look for new friends.
In spite of the new friendship, Mr Haarde said it did not extend to military co-operation, refuting the suggestion that Russia might be given access to an airbase vacated by the US air force in 2006. We are a founder member of Nato, noted an official, categorically denying any such deal.
There was confusion over the status of the Russian loan, with the central bank first saying it had secured 4bn ($5.4bn, £3bn) on a four-year deal, at between 30 and 50 basis points above the London interbank offered rate, before acknowledging that the pact had yet to be finalised.
Alexei Kudrin, Russias finance minister, confirmed Russia had received a request from the Icelandic government for credit. We will examine it, he said. Iceland is well known as a country with tough budgetary discipline and a high rating of reliability. We see such an application positively.
Iceland needs to bolster its foreign exchange reserves in an attempt to shore up the krona, whose depreciation has caused sharp price rises in imported goods such as fuel. The central bank said on Tuesday that it had begun intervening in currency markets to try to strengthen the krona, helping it to rise 13 per cent against the euro at IKr150.
Mr Haarde refused to say which countries had refused to offer help. He said the Nordic central banks were the only ones to come forward before Russia; they agreed a 1.5bn facility in the spring but the Icelandic government decided it needed more funds to shore up the currency. In a situation like this its turning out that its every man for himself, every country for itself, everybodys taking care of their best interest and thats what we are doing, the prime minister added.
Chris Weafer, chief strategist at Uralsib investment bank, said, Lending money to Iceland is a very strong and clear statement from Russia that it is solvent and it has spare cash.
This is going to make a big difference to the Icelandic economy and its a very clear statement. It builds up political goodwill which could be helpful when it gets into difficult negotiations over territorial rights in the Arctic, said Mr Weafer.
Iceland is continuing to look abroad for other funds but, if finalised, the Russian package will almost double its foreign currency reserves. Mr Haarde said the funding would be used to support the krona but would not be extended to commercial banks. He said despite ratings downgrades and a near-record price to ensure government debt from default, there would be no such move from the country. Iceland has never defaulted on its sovereign debt and will not, said Mr Haarde.
#2
It's not a lot of money, but I understand the Russians are spending big sums of cash to prop up their domestic institutions. They may not want to use their spare cash to help out the Icelanders.
#10
Lest we fergit, ICELAND is the initial NORAM nodal point for a proposed OWG translantic supertransit system [Air, Surface, Undersea] bwtn EUROPE ["Eurozone"] + NORAM [US NE + Great Lakes OWG Free Trade Zone].
D *** NG IT, "ALL ROADS LEAD TO ROME, USSA" - you know, the Weak Anti-Sovereign OWG Global SSR = United Soc Republics [USR] of Amerika. * OIL STORM > RUSSIA IS RUSSIA, CHINA IS CHINA, etal. BUY ONLY AMERICA IS AMERIKA/USR!?
#11
Lest we fergit, ICELAND is the initial NORAM nodal point for a proposed OWG translantic supertransit system [Air, Surface, Undersea] bwtn EUROPE ["Eurozone"] + NORAM [US NE + Great Lakes OWG Free Trade Zone].
D *** NG IT, "ALL ROADS LEAD TO ROME, USSA" - you know, the Weak Anti-Sovereign OWG Global SSR = United Soc Republics [USR] of Amerika. * OIL STORM > RUSSIA IS RUSSIA, CHINA IS CHINA, etal. BUT ONLY AMERICA IS AMERIKA/USR!?
Long Stratfor analysis. Bottom line up front: Germany is deeply aligned with Russia against NATO expansion and opposed to a range of US initiatives in eastern Europe and the Caucuses.
Rantburgers can draw their own conclusions about appropriate US policy.
#5
Well, judging from the existence and enforcement of the Wall, I would guess a substantial fraction of the East did not actually side with the Soviets.
#8
Glenmore, you are right, but there were a lot of BabyBoomer Germans on the West Side who ideologically allied with the Soviets as well.
General Comment, we all pretty much guessed your opinion. To tell you the truth a few months ago I didn't see the point to continuing NATO either but now I've seen the thuggish nature of Putin's Russia and I'm reevaluating that opinion. Only the general unworthiness of many European allies has made it even a question.
#9
Generally a nuisance:tThe propaganda's weak. Are you not getting direct deposits from the Homeland any more? I sense a lack of ....loyalty, and you know what that means....
Posted by: Frank G ||
10/07/2008 19:33 Comments ||
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#10
Ditch NATO. Replace it with 4 year mutual defence treaties with front line countries if you wish, but the fewer the better. EUrope is terminal. Do we really want an alliance with a muzzie country in 20 years?
Ok. So my wife passes her Naturalization Interview and is scheduled to be sworn in on Friday (Oct 10) after which we will drive up to Everett Wa (County seat of Snohomish County where we reside) in order to register to vote. She can register up to 15 days before the election as long as she goes to the Elections office.
What follows is from the official Washington State website on Registering to vote (see link).
Apparently you only need a utility bill, bank statement (Bank of America loves illegals btw) or a paycheck to register to vote in Washington State.
Does anyone see any sort of 'Proof of Citizenship' on this page? The page says its a requirement - but no need of actual proof.
ID Necessary to Register
If you register by mail and do not have a Washington State driver's license, Washington State ID card, or a Social Security number, you will be required to provide one of the following items when you cast your ballot.
* Valid photo ID
* Valid tribal ID of a federally recognized Indian tribe in Washington State * Copy of a current utility bill
* Current bank statement
* Copy of a current government check * Copy of a current paycheck
* A government document, other than a voter registration card, that shows both your name and address
If you do not provide one of the above items either before or at the time of voting, your ballot will not be counted. No wonder ACORN loves Washington State.....
CrazyFool, I think those are federal id rules. Trailing daughter #1 registered on-line after her eighteenth birthday with no problem. She did not have to go to the office in person. I believe she used her Ohio driver's license as identification.
#7
Thanks for the congrats everyone. She's been watching the presidential campaign and has a real appreciation for voting.
Washington also has a register-on-web site. All you need is a drivers license (available to anyone - even one of those Mexican Id cards is accepted as id to get one) or Washington ID card.
What gets me is that what's to stop someone who isn't a citizen from registering and voting in our federal election?
You do not have to provide any sort of proof to get a ballot with the presidential election on it and they don't have the means to qualify or disqualify anyone's presidentual ballot - because they don't even ask for proof.
#8
Sounds easy. Why don't we all go register a second time and vote in Washington too. All you need is a friend with an address you can have a bank statement sent to.
#9
our Utility Companies require proof of citizenship and franchise (no criminals are allowed utilities). I'm OK with that. Our Utility Companies can be trusted. I had to show a birth certificate to open a Cox cable acount, so I'm cool with that
/ACORN doode
Posted by: Frank G ||
10/07/2008 19:58 Comments ||
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Madonna She's still alive?
has banned the Republican vice-presidential candidate Sarah Palin from attending any of her concerts. She still does concerts? Who knew?
The singer told a crowd in Meadowlands, New Jersey on Saturday (October 4th) that the Alaskan governor wasn't allowed to her party. Ooooh, burn!
Sarah Palin can't come to my show. It's nothing personal, Madonna was quoted by the NY Post as saying . . . . There is, of course, no evidence that Sarah Palin ever wanted to come to her concert in the first place.
Sounds like Madonna is afraid of someone.
Posted by: Mike ||
10/07/2008 16:08 ||
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#1
Love seeing the tolerance and acceptance of other viewpoints from the left.
BOSTON (AP) - Rep. Barney Frank said Monday that Republican criticism of Democrats over the nation's housing crisis is a veiled attack on the poor that's racially motivated. The Massachusetts Democrat, chairman of the House Financial Services Committee, said the GOP is appealing to its base by blaming the country's mortgage foreclosure problem on efforts to expand affordable housing through the Community Reinvestment Act.
He said that blame is misplaced, because those loans are issued by regulated institutions, while far more foreclosures were triggered by high-cost loans made by unregulated entities.
"They get to take things out on poor people," Frank said at a mortgage foreclosure symposium in Boston. "Let's be honest: The fact that some of the poor people are black doesn't hurt them either, from their standpoint. This is an effort, I believe, to appeal to a kind of anger in people."
Frank also dismissed charges the Democrats failed on their own or blocked Republican efforts to rein in the mortgage companies Fannie Mae and Freddie Mac. The federal government recently took control of both entities.
House Minority Leader John Boehner of Ohio called Frank's remarks "a lame, desperate attempt to divert Americans' attention away from the Democratic party's obstruction of reforms that would have reined in Fannie Mae and Freddie Mac and helped our nation avoid this economic crisis."
"Congressman Frank should retract his ridiculous statements and start taking responsibility for the role he and other top Democrats played in putting Main Street Americans in this mess," Boehner said.
Frank said Republicans controlled Congress for 12 years and passed no regulation, while Democrats passed a Bush administration Fannie and Freddie regulation package since gaining control of the House and Senate in January 1997. "If I could have stopped a Republican bill during the Bush years, I would have started with the war in Iraq. Then I would have gone to the Patriot Act. Then I would have gone on to the hundreds of millions in tax cuts," said Frank, to applause from the audience.
The longtime congressman is being challenged this fall by both Republican and independent candidates. He has been criticized in his liberal district for being one of the leaders of congressional efforts last week to win approval of a $700 billion Wall Street bailout plan.
#1
I had no idea Barney was black.
I did, however, know that if I make 20,000 a year I can't afford a 350,000 triple decker in Dorchester. Even if Fannie Mae says I can.
#5
Someone tell Barney that there are more poor whites than poor blacks in the population by shear numbers. The blacks may have a higher proportion, but they are still fewer in number.
Nevada state authorities seized records and computers Tuesday from the Las Vegas office of an organization that tries to get low-income people registered to vote, after fielding complaints of voter fraud.
Bob Walsh, spokesman for the Nevada secretary of state's office, told FOXNews.com the raid was prompted by ongoing complaints about "erroneous" registration information being submitted by the Association of Community Organizations for Reform Now, also called ACORN. The group was submitting the information through a voter sign-up drive known as Project Vote.
"Some of them used non-existent names, some of them used false addresses and some of them were duplicates of previously filed applications," Walsh said, describing the complaints, which largely came from the registrar in Clark County, Nev. He said some registrations used the names of Dallas Cowboys football players.
Walsh said agents from both the secretary of state's office and Nevada attorney general's office conducted the raid, and "took a bunch of stuff."
ACORN spokesman Charles Jackson confirmed the group's Nevada office was raided.
#1
Related: According to the WA Sec of State, there are 3,515,393 registered voters here. The estimated 2006 state population is 6,395,798, with the average household consisting of 2.53 people. This registered voter number works out to about 1.819 people per household. And there are still over 400k applications to be processed plus any more that are delivered before the end of registration (Oct 20, IIRC)
ACORN is busy here,too, it appears.
#2
Registration ended yesterday here in Ohio. It was reported that ACORN was bussing in homeless people, and the registration offices for the counties in this area were very busy. I believe six days earlier they started accepting absentee ballots; it's expected that double the usual number will be sent in... but that also means there will be plenty of time to check that those voters are legitimate.
#3
"there will be plenty of time to check that those voters are legitimate"
You're lucky. Here in Wisconsin the State Elections Board is fighting 'tooth & nail' to NOT check legitimacy (they've had a couple of years to implement the Federal law, but it's "too difficult" for them to do on such 'short notice').
Posted by: Mullah Richard ||
10/07/2008 16:26 Comments ||
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#4
The ACORN office in Nevada had the whole starting line-uo from the Dallas Cowboys offense registered to vote in Nevada.
Posted by: Deacon Blues ||
10/07/2008 19:56 Comments ||
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FRENCH film star-turned-activist Brigitte Bardot took a swipe at Sarah Palin today, saying the US vice presidential candidate was a disgrace to women.
"I hope you lose these elections because that would be a victory for the world," Bardot wrote in an open letter to Republican John McCain's running mate in the November vote.
"By denying the responsibility of man in global warming, by advocating gun rights and making statements that are disconcertingly stupid, you are a disgrace to women and you alone represent a terrible threat, a true environmental catastrophe," wrote Bardot.
The screen icon from the 1960s, who now heads an animal rights foundation, went on to assail Gov Palin for supporting Arctic oil exploration that could jeopardise delicate animal habitats and for dismissing measures to protect polar bears.
"This shows your total lack of responsibility, your inability to protect or simply respect animal life," Bardot wrote.
In a final salvo against Gov Palin, the 74-year-old ex-star picked up on Gov Palin's depiction of herself as a pitbull wearing lipstick and said she "implored" her not to compare herself to dogs.
"I know them well and I can assure you that no pitbull, no dog, nor any other animal for that matter is as dangerous as you are," Bardot wrote.
#3
I was about 18-19 when I saw Bardot "nekked" in "And God Created Woman." I thought she was a pretty hot little strumpet at the time but then we often deluded in our youth and driven by our hormones. Do you think I might have a lawsuit for being corrupted by this woman?
#6
May TW and all other Rantburg ladies forgive me but:
"Sois belle et tais toi, co..se" (Be beautiful and shut up, idiot).
But it also applies to the Robert Redfords, Brad Pitts and Leonardo di Caprios (usually college dropouts) who think that just because they have interesting faces they are smarter than us and entitled to tell us who we must vote. It is only that I have zero interest in beautiful men so I cannot tell them the "Be beautiful and shut up, idiot" thing
#11
In other news Madonna has said Sarah Palin will not be allowed to come to any of her concerts. In her case I'll say, "Shut up and try to sing".
Posted by: Deacon Blues ||
10/07/2008 15:49 Comments ||
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#12
Madonna can't keep anybody from coming to her concert that plops down the $100 or $200 bucks. But why anyone would want to do that is beyond me. I wouldn't walk across the street to see her. The one redeeming thing she did right was to split with that idiot Sean Penn.
#13
May TW and all other Rantburg ladies forgive me but
There is nothing to forgive, cher JFM. That statement can only be made to a beautiful idiot, whereas it is well-known that the other Rantburg ladies are stunningly beautiful, frighteningly intelligent, and dangerous as a tigress with young cubs. It has been suggested that I take up the study of tea trays as an offensive weapon that I might join their ranks, but I haven't got beyond being appalled at the thought of hammering out the dents afterward, I fear.
#14
TW: a rubber mallet and a bean bag work admirably for removing dents from metal surfaces.
A little pratice on an old cookie sheet (or any Chevrolet hood) will have you doing the Ms. GoodWrench Shuffle in no time!
#15
I'm not surprised that Bardot would dislike Palin. Her life's work is animal rights activism and Palin hunts. Sorry Brigitte, no one cares what you think.
#17
Everyone has an opinion. Showbiz people get to have their opinions publicized because they're showbiz people. I don't begrudge her right to have an opinion, but I find it amusing that reporters think it newsworthy enough to cover.
#18
Bardot's wrong on this but, hey, nobody's right about everything. She's got Muzzies pretty well nailed and that carries a lot of weight with me since it's such a rare thing in La Belle France.
#19
It has been suggested that I take up the study of tea trays as an offensive weapon that I might join their ranks, but I haven't got beyond being appalled at the thought of hammering out the dents afterward, I fear.
TW, old Dodge or Pontiac hubcaps work equally as well, but won't take quite as sharp an edge. Never be afraid to improvise!
Posted by: Old Patriot ||
10/07/2008 19:28 Comments ||
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#2
I'm pretty fed up with all the attacks on Palin. The lady has brains and class, which is more than I can say for Madonna, Bardot, or any other sluts on the left.
#3
I wish someone would tell me what happened.[whine] My current unit will not do in page videos well. My real computer is down temporarily. [/whine] Is there a written description somewhere? I won't expect anything from the MSM.
#5
I really, really like Sarah Palin. She doesn't do it with that cool class Margaret Thatcher had but when she talks you can just hear that clear, crystal sound of the truth coming through.
#6
She is in no way ready to be President - but she does seem to be a fast learner. On the other hand, Obama is in no way ready to be President either, and he would not even have an opportunity to exercise any fast learning. So it goes.
Anyone see him using taxpayer money (for secret service) as he stayed a full half-hour after the debate to yuk it up with the attendees? I'm sure it was agreed that both Senator McCain and Obama would leave directly following the debate, but Obama used the opportunity to get some free, publicly funded campaign time in.
#1
We've got a war hero and Wonder Woman running against a ward heeler and a party hack, and the outcome's in question?
I'm still having trouble computing this.
Posted by: Fred ||
10/07/2008 10:42 Comments ||
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#2
I am wary of efforts for promoting "participation" (BTW, curiously those who are behind it are heay users of alcohol and drugs never do wells liberal actors). High turn out is good when it reflects an interest of citizenship in the future of the Nation. But that means voters who have made the effort to keep themselves informed in order to amke conscious choices. adn this is reading the local fishwrap and spendfive minutes watching CNN). So those efforts for mlaking people vote, lead to have people who know nothing about subject vote. And those people are the most vulnerable to demagogics, MSM lies or toothpaste smile tactics assorted to vague promises determining their vote.
I know it is un-PC and it could lead to many arbitrarities but I would subirdinate vote to success in an exam about politivcs with questions like: who controls the chamber and senate, who supported such or such piece of . I would like to find a magic formula allowing to vote even to pople who have low levels of instruction but would bar the guy who has discovered the names of the candidates the morning of election.
#4
If you read the article carefully, they are still comparing different polls for McCain/Obama. More subterfuge, I can't stand it any more, I'm gonna jump!!!!
#5
...or the "I'll work for Beer food" vagrant at the interchange off ramp.
Then again good old Joe seemed to have forgotten that the VP was the 'President of the Senate' not the President Pro tem(pore) of the Senate in the last debate even having served so many terms. I think he'd have to get constructive credit on that one to vote then.
#7
big-jim, I talked last with a friend in Pittsburgh. She told me she could never vote for McCain because he looks like a cadaver so she's voting for the nice-looking Obama. Besides, she's a Democrat and will ALWAYS vote Democrat no matter what. She has no idea what Obama's policies are and doesn't care. Unfortunately, there are millions of people like her out there.
Posted by: Deacon Blues ||
10/07/2008 12:20 Comments ||
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#8
Deacon: I blame feckless, emoting suffragettes who hate The Man.
#10
You have to look at polls in the details. They are notoriously skewed in favor of Democratic voters. Also, are they "eligible" voters, "registered" voters, "likely" voters, etc. Did they call on land-lines? None call on cell phones but 25% of American's have dropped their land lines. You also need to look at state by state polls. Its an electoral college not a popular vote. Economy for most people will be the number one concern. They are economic illiterates at best and completely clueless at worst, so it could favor Obama. But my bet is on McCain by a nose.
Posted by: Jack is Back! ||
10/07/2008 12:40 Comments ||
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#11
Obama is able to look sincere when he promises to kiss it and make it better. This gives him an advantage over non-depraved-sociopath candidates.
#12
McCain is losing because everyone blames the executive branch for all of the nations ills. Primarily because Bush doesn't defend himself even when others blame him for nonsense (or worse, things they did).
McCain has not pointed fingers at the Congress until very recently. It might be too late.
#14
I never could grasp anything of him here in France. I only saw the horrific, stuuuuuuupid and baaaaaad Starship Troopers movie (I know it doesn't reflect on the book). It was original thinking inspired by Belgium (where you are fined if you don't vote) and the "Get out the vote" movement. I think it is bad for democracy and they know it. In fact that is whay they do it.
#16
#3 I can't believe that 45% of the country actually wants to vote for Obama, I've gone my whole life thinking Americans were smarter than that.
bigjim-ky: you now see the master plan of destroying the public education over the last 40 years coming to fruition...
Posted by: Abu do you love ||
10/07/2008 19:01 Comments ||
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#17
I'm still having trouble computing this.
Increase the level on your Soros parameter.
The tracks are well covered. But recognize that Soros has no compunction in taking down a government or creating financial chaos. It serves both his politics (international meritocracy) and his trading style, and he's done it before.
It's a nearly perfectly timed "surprise".
My son, who has limited experience with these things, says Paulson has the look of a bought man.
Video at the link. The CNN newsblabster says at the end, (paraphrasing) "At the time Barack Obama met in Ayers living room in 1995 to be introduced politically, he was not aware of Ayers' past involvement with the radical Weathermen Underground."
Okay, fine, let's accept that for a moment. He wasn't aware back then.
He's aware now.
What does he have to say about it?
Posted by: Steve White ||
10/07/2008 00:00 ||
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#1
Gov Palin must continue hammering away, coupled with showing documentation in the form of functions both Obamas attended with these domestic communist terrorists.
Posted by: Mark Espinola ||
10/07/2008 3:30 Comments ||
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#2
I think the more Obama tries to dismiss this, the more mistakes he will make. Oh the tangled web we weave...
#5
He now has every major news network, with the possible exception of Fox, explaining his own actions FOR him. They are shilling for him out in the open now.
#6
McCain has been talking about the financial crisis and Obama's role in it too. About damn time. But then, as Nixon used to say, you don't want your campaign to peak until just before the election.
CHICAGO (AP) - Federal prosecutors moved Monday to delay indefinitely the sentencing of convicted fundraiser Antoin "Tony" Rezko, sending their strongest hint yet that he is ready to spill his political secrets. The filing asks for a postponement while prosecutors and defense attorneys "engage in discussions that could affect their sentencing postures."
Speculation has simmered for weeks that the key fundraiser for Gov. Rod Blagojevich and Sen. Barack Obama was whispering what he knows about corruption in Illinois government to federal prosecutors in hopes of getting a lighter sentence. Rezko raised more than $1 million for Blagojevich's campaign fund and was one of the governor's key advisers. He was frequently by the governor's side in the early days of his administration and could be in a position to shed considerable light on federal investigations into patronage hiring and a host of other issues involving Blagojevich.
The governor has not been charged with wrongdoing. A spokesman did not immediately respond to an e-mail message after business hours seeking comment.
U.S. District Judge Amy J. St. Eve had set Sept. 3 as a firm date for sentencing Rezko on his conviction for launching a $7 million scheme to use his clout with the Blagojevich administration to squeeze kickbacks out of a contractor and seven money management firms wanting to do business with the state. Then she postponed the sentencing date to Oct. 28.
Federal prosecutors filed a three-paragraph brief late Monday asking for that date to be stricken and the sentencing postponed indefinitely. The wording left little doubt that Rezko offered enough to make the government consider some sort of sentencing break.
Very, very likely that Blago is the target, not Obama. Also very, very likely that there won't be an indictment of anyone until after the election. And if Obama wins, maybe never.
Posted by: Steve White ||
10/07/2008 00:00 ||
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Singing like a canary he is...
Posted by: DanNY ||
10/07/2008 7:45 Comments ||
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#2
Awaiting a very likely presidential pardon no doubt.
#3
Felicity Nitz, 60, of Brooklyn says she kept on clicking on Obamas online fundraising appeals, I just kept punching it when I got the emails, she said, Im an insane supporter.
That says it all - insane!
Posted by: Jack is Back! ||
10/07/2008 12:44 Comments ||
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#4
Repetitive pattern muscle motion is executed from the lower brain stem and requires no cognitive intervention from frontal lobes.
#3
The 24-hour rule proves out once again. So much for Candidate Obama being a friend of the Jews. On the other hand, he uses them just as willingly as he uses everyone else, so there's no discrimination here.
WASHINGTON - U.S. President George W. Bush will sign legislation opening a potentially lucrative nuclear trade with India on Wednesday, a week after the deal was ratified by the U.S. Congress, the White House said on Monday. The pact will provide India access to U.S. nuclear fuel, reactors and technology, overturning a three-decade ban on such trade. The ban was instituted in 1974 when India first tested nuclear weapons.
Before it can take effect, Bush will have to certify that the pact is consistent with the nuclear Non-Proliferation Treaty as well as that it is U.S. policy to work with others to restrict the further transfer of equipment and technology for uranium enrichment and reprocessing spent nuclear fuel. India and the United States will also exchange diplomatic notes to put into effect the agreement, ratified by the U.S. Senate last week and the House of Representatives last month.
The India-U.S. deal could open up around $27 billion in investment in 18 to 20 nuclear plants in India over the next 15 years, according to the Confederation of Indian Industry.
Posted by: Steve White ||
10/07/2008 00:00 ||
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Standard & Poor's cut Pakistan's sovereign rating further into junk territory, saying the country's worsening external liquidity may imperil its ability to meet about $3 billion in upcoming debt obligations. S&P lowered Pakistan's foreign currency debt rating to CCC-plus from B, just several notches above a level that would indicate default. Pakistan's local currency debt rating was lowered to B-minus from BB-minus.
The widely expected action comes after Pakistan said on Saturday its foreign reserves fell $690 million to $8.1 billion in the week ending on September 27, an announcement that helped send the Pakistani rupee to a record low against the dollar on Monday. The State Bank of Pakistan said its reserves fell to $4.7 billion from $5.4 billion previously, representing a little over two months of import cover.
S&P's downgrade of Pakistan was its second this year. The ratings agency noted Pakistan would require external assistance in meeting its debt obligations -- which includes $500 million in dollar bonds maturing in February -- but expressed concern about whether it could count on the help in time.
S&P also noted the uncertain political situation and social tension cast doubt about whether the government would have the ability to adopt the appropriate policy measures. "The rating on Pakistan could be lowered further if the foreign exchange reserve cushion continues to shrink and meaningful economic stabilisation measures remain wanting," S&P warned in its statement.
Posted by: Fred ||
10/07/2008 00:00 ||
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#1
"further into junk territory"?
Remember, you can only go into a forest halfway....
#5
They had 10% growth there for a couple years, with an emergent business class that spent all their money on Rolexes and BMWs and Prada clothes. Should have diversified their portfolios I guess.
#7
No sympathy here. Pakistan's stock market at the peak went up 15X from Sept. 11, 2001 level. They've milked Uncle Sugar for all he's worth and he's running dry.
Posted by: ed ||
10/07/2008 12:58 Comments ||
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Israeli Foreign Minister Tzipi Livni pressed ahead with efforts to secure a ruling coalition on Monday, a day after delivering her first foreign policy speech since being named to form a new government. Elected on September 17 to replace Prime Minister Ehud Olmert at the head of the Kadima party, Livni needs to put together a governing coalition if she is also to take over as premier while averting a snap election.
She planned to meet on Monday with leaders of two religious parties -- the Shas, which has 12 mandates in the 120-seat parliament, and the United Torah Judaism, which has six MPs -- media reported.
Livni, 50, a former Mossad spy, was formally asked by President Shimon Peres on September 22 to form a new government, after she took over as Kadima chairman from Olmert who stepped down as police recommended he be indicted over graft allegations.
At a conference organized by her ministry on Sunday, she delivered her first foreign policy speech since the Kadima election. "Israel wants to achieve peace with all its neighbors, including the Palestinians, the Syrians and the Lebanese. Israel wants to achieve peace and normalization with all the Arab countries," she said.
She also said Iran, which Israel considers a strategic threat, is an issue that should be dealt with at the international level.
Posted by: Fred ||
10/07/2008 00:00 ||
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A comment from one of Israel's newspapers "Tzipi Livni held 7 (seven) ministerial positions can anybody say without checking which, or recollect that she did while holding them?"
Ooooh. A "a Palestinian expert on Koranic science". Let's all listen...
Dr. Ahmad Al-Muzain: The Prophet Muhammad said that there is no need to wash off the urine of the male infant. Only the urine of the female infant should be washed. In the case of the urine of the male infant, it is enough to sprinkle water lightly over it. From this, the religious scholars have concluded that the urine of the male is less impure than the urine of the female. This gives rise to many questions: Why is there a distinction between the urine of the male and the female? What is the wisdom in this? Is this, as some Orientalists claim, discrimination against the female, even in infancy? God forbid that this is true. But, first, lets go to the scientific proof...
In order to prove the wisdom behind this, scientists from an Iraqi university have conducted a unique experiment. Of course, this experiment was supervised by a professor from the International Commission on Scientific Signs in the Quran and the Sunna. This experiment proved that a type of bacteria known as E. coli - and you can see a picture of this bacteria behind me... We found this type of bacteria in the urine culture of both male and female infants. What was strange, however, was that the urine of the male infant contained much fewer bacteria than that of the female. Well. Isn't that amazing...
This proves unequivocally that this is the true religion, and that this knowledge was conveyed to the Prophet by Allah. ...and who can argue with that.
#1
Have you had the E. Coli checked in your urine lately? For just twenty dollars, you can find out if you are right with Allah. Get your urine tested here, now!
Posted by: Richard of Oregon ||
10/07/2008 10:39 Comments ||
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#2
I think these folks need a scientific double blind study. The template could be a wine taste test. A distinguished panel of imams can bring a jarful to their noses and appreciate the bouquet. Then a taste test, being sure to swoosh it around the mouth to get a full appreciation of it's unique qualities. But no swallowing, please. Judges can then score the specimen as blessed islamic male or impure hussy female.
Hell, make it a 16 week TV event ala American Infidel Idol.
Posted by: ed ||
10/07/2008 11:00 Comments ||
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#3
As soon as I went over the academic paper proving Islam was the true religion, I knew that urine would be involved.
"Hey - get a load of this piss"
#11
urine of the male infant contained much fewer bacteria than that of the female.
I have always understood that love for an infant helps his/her body's natural immune sysem fight disease. So girls are second-class citizens, not as loved by parets, more subject to honor killings later on... So this might be accurate as to the description of what the urine contains...
#14
#12 I'm not sure what all the 'he he' had to do with koranic science. Looks like some US election politics instead. Does this really belong on this thread?
The government is weighing a bold plan to buy massive amounts of unsecured short-term debts in a dramatic effort to break through a credit clog that is imperiling the economy.
The Federal Reserve is working with the Treasury Department on the plan to buy "commercial paper," a short-term financing mechanism that many companies rely on to finance their day-to-day operations, such as purchasing supplies or making payrolls, according to a person with knowledge of the plan. The person spoke on condition of anonymity because the plan is still being put together.
The market for this crucial financing, which relies on investors rather than banks, has virtually dried up. That has made it increasingly difficult and expensive for companies to raise money to fund their operations. Commercial paper is a way of borrowing money for short periods, typically ranging from overnight to less than a week.
The unstable situation has left many companies vulnerable. The notion under the plan is for the government to come up with a backstop that would provide companies with a new place to get cash. Depending on the ultimate shape of the plan, the Fed could become a source of credit for nonfinancial businesses in addition to commercial banks and investment firms.
The Fed made an opaque reference on Monday that it was exploring "ways to provide additional support" to "unsecured funding markets." The creation of a separate legal entity was being examined as one way for the Fed to get into the commercial paper market, the person with familiar with the plan said.
Posted by: ed ||
10/07/2008 08:48 ||
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The market for this crucial financing, which relies on investors rather than banks, has virtually dried up. That has made it increasingly difficult and expensive for companies to raise money to fund their operations. Commercial paper is a way of borrowing money for short periods, typically ranging from overnight to less than a week.
Beating a dead horse. This is what a Bank of the United States could and would do. Banks would be forced to compete or forfeit that market.
Depending on the ultimate shape of the plan, the Fed could become a source of credit for nonfinancial businesses in addition to commercial banks and investment firms.
Gee, if it walks like a duck, swims like a duck...
Instead of infusing $700B into the hands of middlemen, why not just do it yourself?
#2
Yeah. And the feds should take over FedEx too. After all it has Fed in the name already.
You should spend time in commercial and governmental lending units before you so quickly endorse having the government decide how to lend other peoples money.
#3
News Alert NS - they're already leading other peoples money, i.e. bailout to the tune of soon to be a trillion dollar figure. We're all on the bottom line for that.
#5
More small business loans for minorities and the "economically repressed" no doubt. People who are just as unqualified to own a business as they were to buy a house. Why do I see this ending just as badly as the housing debacle?
If they vet the companies well enough it would be a fantastic move, small business accounts for a lot more jobs and tax $$ than big business could ever dream of. But I see a pattern with anything the govt. touches, and it doesn't turn to gold.
#7
Ya know, hangin' was a great deterrent to bank robbers in the 1800's. Since then, we've decided it's too "cruel and unusual", and crime is rampant. Maybe if we re-introduced hangin' for serious crimes, it might send the same message it did before. The biggest criminals I know all seem to be in Congress...
Posted by: Old Patriot ||
10/07/2008 19:03 Comments ||
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Central bank doubles to $300 billion the amount it will loan banks. Loans could reach $900 billion by end of year.
The Federal Reserve announced Monday that it will increase by hundreds of billions of dollars the money it makes available to the nation's banks.
The central bank said that its so-called term auction facility, which accepts financial instruments such as mortgage-backed securities as collateral, will be doubled immediately to $300 billion. The total amount available to banks will rise to $600 billion under the moves announced Monday. In addition, the Fed signaled it could increase the amount available through those loans to $900 billion by the end of the year, increasing the amount the Fed will loan through the program by $750 billion above its previous limit.
The moves come in the wake of the passage on Friday of a $700 billion bailout bill that will allow Treasury to buy damaged assets directly from banks and Wall Street firms. Experts said the moves by the Fed were an acknowledgement that many of the nation's leading financial institutions may not be able to wait until Treasury sets up its program. It may take weeks or perhaps even months before the Treasury can pump billions into the system itself by buying the damaged assets held on their balance sheets.
"The crisis in credit markets has become very acute, not just here but in Europe as well," said Lyle Gramley, a former Fed governor who is now an economist with the Stanford Group. "In a situation like this, you have to provide all the liquidity that is needed so that illiquid institutions don't become insolvent institutions."
The rapid expansion of the Fed program is essentially like an emergency bridge loan for institutions caught in a credit squeeze, said Kevin Giddis, head of fixed-income sales trading and research for investment firm Morgan Keegan.
The Fed had little choice but to try to pump as much cash as possible into the system, no matter the risks associated with taking damaged assets as collateral, Giddis said. "Liquidity is needed immediately, and we're talking hours," he said. "I think the Fed will continue to take whatever steps it can until we unlock the problem."
Giddis and Gramley both agree that the Fed appears to be focused on these kinds of non-traditional measures to pump cash into the market rather than simply cutting interest rates, which is how the central bank has historically spurred a slowing economy. But neither would rule out the possibility that the Fed will do an emergency rate cut before its Oct. 28 and 29 meeting if problems in credit markets continue to worsen.
The term auction facility was announced in December as a move to pump cash into the already battered credit markets. The Fed allows banks to bid in an auction for the rate they're willing to pay to borrow the funds, and it accepts a much wider range of collateral for the loans than in other forms of lending by the central bank.
The Fed started loaning $20 billion in its first auction in December, but it quickly reached a $150 billion limit by late May and has stayed at or near that level since then. The auctions are split between different length loans. The Fed's statement Monday said it doubling both its 28-day and 84-day auctions to $150 billion each immediately. The Fed conducted a previously scheduled 84-day auction Monday morning for $150 billion of funds. That was originally set to be a $75 billion auction before Monday's announcement.
...
Posted by: ed ||
10/07/2008 08:44 ||
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I hear we need so much new cash injected in the system that the Fed has hired Bob Mugabe as head of Bureau of Printing and Engraving.
Posted by: Jack is Back! ||
10/07/2008 12:33 Comments ||
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Nearly half the production from the biggest US oil and natural gas region remains shut down in the wake of hurricanes Gustav and Ike, which swept through the Gulf of Mexico last month. However, the Department of Energy said high petrol prices caused by the disruption should subside in the next few weeks as the refineries and market conditions returned to normal. Many companies used the shutdowns for maintenance work, which also affected supplies and raised prices.
The damage was not confined to production platforms in the gulf, which produces 20 per cent of US oil and natural gas, as several pipelines and processing facilities onshore were damaged. Regulators estimate that 48.2 per cent of oil production in the gulf and 44.6 per cent of natural gas production remains shut.
The hurricanes destroyed 52 offshore platforms and four drilling rigs, while 29 platforms and one rig suffered extensive damage and 33 platforms moderate damage. Six gas transmission pipelines were damaged. The closure of 15 refineries, responsible for about 20 per cent of US refined product, also hit supplies, as it can take two weeks to check all machinery and restart.
Posted by: Steve White ||
10/07/2008 00:00 ||
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A limiting factor in restoring capacity is availability of deep sea divers and support boats. Lots of underwater damage inspections and repairs to be done to platforms and pipelines. In 400' of water (or more - lots more!) even a small task is difficult. So, you adventurous, physically fit (and kind of masochistic or suicidal) folks who are looking for a good-paying (if a bit erratic) job opportunity .....
#2
I was diver and piledriver for 10 years, anything over 250' gets real expensive. Anything over 400' has to be done as a saturation dive. And thats the big money. Basically you and a crew live under pressure for a month at a time. It takes a while to get into the business though. About 3 years until you are doing any mixed gas dives. Starts with about 6 months of school (720 hours) to get your certificate. Then a year or two as a dive tender, then shallow dives, then deeper mixed gas dives, then the big money stuff. But its a great career for a young guy or gal. You should plan on traveling a lot, that's why I went back to school, but you can make a very nice living at it, as it will lead you into field supervision quite early.
U.S. officials began putting the newly approved financial bailout plan into effect this morning, even as global stock markets plummeted on new concerns about the health of the European banking system and the likelihood of a global recession.
Posted by: Fred ||
10/07/2008 00:00 ||
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On Sunday, German finance officials said they had stitched together a $70 billion bailout for Hypo Real Estate Holding AG, a blue-chip commercial lender that was in danger of failing. A rescue plan announced a week earlier had fallen apart after private banks involved in the deal said Hypo's liabilities were worse than expected.
Hypo officials said that they had been forthcoming about problems on their balance sheet but that credit conditions had worsened in recent days, making it extremely difficult for them to refinance debt. Lawmakers, however, reacted with anger; Steinbrueck, the finance minister, said it was "unthinkable" that Hypo's senior managers would be allowed to keep their jobs.
German officials said their decision to guarantee all personal bank deposits was made to avoid a full-blown financial panic and had nothing to do with Hypo, which has no retail branches and focuses on loans to property developers.
Okay, it's very debatable how well a U.S. style bailout is going to work, but these fucking socialists are so worried intent on rich bankers getting fired and 'The People' approving of what they do, that they've decided to insure individual accounts.
Neither of their 'goals' will have any effect whatsoever on the liquidity problem.
Firing bankers will not free up liquidity at any bank, anywhere, anywhen.
Export economies like Germany are going to be screwed and with dumbass 'voter approved' measures like this, they're onl making it worse.
Posted by: Mike N. ||
10/07/2008 0:55 Comments ||
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As of about 9am EDT today, futures are up big time and foreign markets are stable.
Congressman Dennis Kucinich warns of the effects of the $700 billion Wall Street bailout as the stock market is plummeting around the world. "The bailouts of Wall Street must stop. It will never be enough. When the Federal Government gets involved in picking winners and losers on Wall Street, we open up a financial whirlpool of insatiable greed," said Kucinich on Monday.
"If Wall Street does come back for another bailout, we must be prepared in advance to say NO," the Ohio Democrat said in a press release.
Last week, the US Senate approved the bailout bill to provide $700 billion to buy bad assets from banks and other institutions to shore up the financial industry but did not propose any solution for the wider US economy. The congressional approval did help ease fears on Wall Street, but failed to calm global stock markets or give hope to Americans worried about their financial future.
Kucinich also says any government efforts need to focus primarily on putting more money into the pockets of middle- and lower-income Americans struggling to keep their homes and jobs, not to Wall Street institutions.
As the government began enacting its bill Monday, the Dow Jones Industrial Average fell as much as 800 points during the day before settling down around 350 points at closing. The Dow dipped below 10,000 for the first time since 2004.
European stocks fell even further, a day after European governments rushed to save major collapsing banks on the continent.
"The fundamental problem that led to the credit crisis is that millions of homeowners are in jeopardy, and millions of people are out of work. Congress rushed to bail out Wall Street but sits on its hands when millions of homeowners are at risk," said Kucinich. "The only way to prevent another bailout is to take action which will directly impact the market stress at its root - the millions of homeowners who face default on their mortgages. This is the path toward market stabilization," he added.
Posted by: Fred ||
10/07/2008 00:00 ||
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When the Federal Government gets involved in picking winners and losers on Wall Street, we open up a financial whirlpool of insatiable greed," said Kucinich on Monday.
I agree with Congressman Kucinich, but I'm afraid the terms Federal Government and insatiable greed became synonymous many years prior to the recent Wall Street debacle.
#2
unfortunately the rest of Dennis's response was edited out: "Once our alien overlords arrive with Zygantium crystals, we can shift our currency to thought-notes backed by the Zygantium standards. Klaatu!"
Posted by: Frank G ||
10/07/2008 10:25 Comments ||
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#3
Right you are, Frank G. It'll be alien technology from my UFO friends. Lemme make some calls...
#6
#5 This could be the only rational thought ever to coalesce is Kucinich's brain.
Posted by bigjim-ky
Well if he were only granted one rational thought, he chose a good one. I only wish Senator McCain had followed his lead. It wouldn't have cost him a dime.
#7
As long as our national mortgage guarantee operations are being used for social experiments and to promote a world-view that is counter to basic economics (such as "people who can't afford a mortgage should get one anyway because that would be really nice"), we will have all sorts of problems. It is really nothing more than government yet again being used as a charity rather than a supporter of the economy.
It's okay, in about 5 more years Congress is going to run out of cash when they have to start honoring the Social Security trust fund IOUs. It will then be game over for big pork.
#9
WORLD FORUM Thread [China] > argues the US' FIGHT AGZ TERRORISM + MASSIVE DEFENSE SPENDING WON'T SAVE IT FROM BANKRUPTCY, as the USA = Econ, DOD has technically been bankrupt for a very long time now ala USGovt-BELOVED DEFICIT BUDGETING.
CNN HEADLINE NEWS > Segment debates HOW MUCH GOLD DOES THE US HAVE IN FORT KNOX, to pay for both the NEW SENATE-APPROV WALL STREET BAILOUT + RELATED PAN-ECON PROBLEMS???
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
The American author of a book critical of Barack Obama is being detained in Kenya while his immigration status is checked, a senior immigration official said Tuesday. 
Mauritanian security forces used tear gas to disperse anti-coup protesters late Sunday, a day before an African Union (AU) for the country to return to constitutional order was set to expire. A coalition of pro-democratic parties, the National Front for the Defense of Democracy, had called for a day of protest Sunday despite.
Stock markets across the Gulf continued to tumble Monday after a 'Bloody Sunday' of trading saw huge losses and credit conditions tightened, sparking fears that the Arab peninsula would be hit by the fallout in Europe and the United States. 
WASHINGTON - U.S. President George W. Bush will sign legislation opening a potentially lucrative nuclear trade with India on Wednesday, a week after the deal was ratified by the U.S. Congress, the White House said on Monday. The pact will provide India access to U.S. nuclear fuel, reactors and technology, overturning a three-decade ban on such trade. The ban was instituted in 1974 when India first tested nuclear weapons.
Nearly half the production from the biggest US oil and natural gas region remains shut down in the wake of hurricanes Gustav and Ike, which swept through the Gulf of Mexico last month. However, the Department of Energy said high petrol prices caused by the disruption should subside in the next few weeks as the refineries and market conditions returned to normal. Many companies used the shutdowns for maintenance work, which also affected supplies and raised prices.
Congressman Dennis Kucinich warns of the effects of the $700 billion Wall Street bailout as the stock market is plummeting around the world. "The bailouts of Wall Street must stop. It will never be enough. When the Federal Government gets involved in picking winners and losers on Wall Street, we open up a financial whirlpool of insatiable greed," said Kucinich on Monday. 
