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POPS Sen. Reid Cries 'Bankruptcy' In Front Of Reporters The SEC has been issuing subpoenas for an investigation into rumor-driven market manipulation. Of course, Harry Reid stood up in broad daylight to talk about a troubled insurer "with a name that everyone knows," so his contribution was merely obtuse. And predictably destructive. The steep drop in the share prices of insurance companies Thursday destroyed wealth for uncounted middle-class investors holding onto stock in companies still considered healthy. It calls to mind *Senator Chuck Schumer's public suggestion in July that troubled IndyMac Bank "could face collapse." It did, after a deposit run. Senator Schumer said criticizing his action was akin to blaming "the fire on the guy who called 911." The nation's shareholders would sleep better at night if some Members of Congress enrolled in Arsonists Anonymous. The $4 Billion Senator* http://online.wsj.com/article/SB121607771017452513.html?mod=article-outset-box
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POPSThe bailout is a sham favoring foreign investors There isn't any provision to prevent Secretary Paulson from defining any other financial asset as "promoting financial market stability", and while he must notify Congress, they cannot block his purchase. Why is the cut off date for mortgages to be helped so far in the past? March 14, 2008 seems a bit arbitrary to me.
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POPSOMG... another sterling example of the mentality of Congress
Citizen "Steve" had this to say... THE MORONS LEFT TOWN BEFORE PASSING THE PART OF THE BILLS THAT TOOK CARE OF MIDDLE CLASS AMERICA…..WHAT DID WE GET FOR OUR 700B? 1. We had 700B of our hard earned tax dollars taken from our pockets and given to Wall St 2. They added Pork on the Bill wasting more of our tax dollars 3. GUESS WHAT!!!!! CNN reported they left town before passing the part of the bill that will help middle class America…can you believe it. They left town and forgot us after all that B.S. talk about this bill taking care of middle class America. Gee…I wonder if they will come back to work to take care of Main St — yea right! At this stage, I don’t care who voted yes or no for this bill. They are all bums and should be thrown in jail for violating our trust…. What the terrorists can’t accomplish in America, Congress will. How the hell can any American trust these morons to take care of Main St….NO MORE! Don’t let these morons be re-elected.
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POPSGeorgia better be careful who they trust During a recent trade mission to Georgia, Ambassador John K. Veroneau, stressed the American government’s commitment to helping the Georgian economy regain traction. " he I spoke with are very bullish on Georgia’s future," Veroneau told EurasiaNet. "I think they see Georgia as a very strong market to be in for the long term."
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POPSCommentary from a Central Banker "And what better way to ensure the corporate largesse is returned to the GOP to win back the White House and Congress in 2012 as the depression fuels public anger?"
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POPS ACORN Members Ask Feds: "Where's the Hope?" "This country needs to address the crisis on Main Street, the foreclosures that are plaguing our communities and dragging down the entire economy." - Guess what moron, your stupid organization contributed largely to this economic crisis in forcing banks to go along with your dopey organization to make these ill advised loans to unqualified borrowers to begin with. That is why the economy cratered and you're asking us to pour more money down that same hole, hopefully we aren't that stupid again.
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POPS"I'm Barack Obama, and I Approve This Bailout" Both left and right on Main St. oppose the bailout bill, and for good reason. Take a look here at how mad many on the left are. Here is his punch line to the get-a-long Democrats in Congress--call it a hard left hook: To the former, the Democratic Party, I say: your support of this Bill as it stands or in any form that simply hands over money and asks the market to take care of the mess makes you our enemies, not our advocates. ...then he lands one squarely on Obama's jaw: To Barack Obama I say: you are a fraud on public credulity. You are no more a "change" agent than I am the Pope. With your support of this bailout, you have acted in direct contradiction to your promise of change Last chance to call your house rep before they RUIN both the market and the economy with those latest Bailout bill.
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POPSBailout plan fails to strengthen markets The revised bailout plan to help out from the economic crisis of the United States failed to lift up the indexes in spite of the hopes. The House of Representatives probably will meet on Friday to analyze and to revise again the plan.
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POPSCoercion and Freedom if you were to ask, say, the average senior citizen whether Social Security, Medicare and prescription drug subsidies should be continued, he would probably answer yes. The same would be true if you asked a college professor whether higher education should continue to be subsidized, or a farmer or a dairyman whether their products should be subsidized, or a manufacturer whether there should be tariffs and quotas on foreign products that compete with his product. The problem with congressmen producing favors and privileges to all interest groups is that it creates what none of us wants: massive control, numerous dictates and micromanagement of our lives.
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POPSSen Coburn Says Root Of The Problem Is Political Greed In Congress .....members of Congress chose to ignore the problem and distract themselves with unprecedented amounts of pork-barrel spending.” “Taxpayers who want to ensure that this doesn’t happen again should send a very clear message to Washington that it’s time for Congress to live within its means and restore the principles of limited government and free markets that made this country great. I will do everything in my power to ensure that this bill does not lead us down a slippery slope of European style socialism and slow economic growth. I will also promise taxpayers that I will do everything in my power to block what I expect will be hundreds of attempts by politicians in Washington to continue business-as-usual borrowing and spending in the next Congress. In a time of crisis, American families have to make hard choices between budget priorities. So should Congress."
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POPSFactCheck: Who's really responsible for crisis? "Screwing up takes a great deal of cooperation." D's blame R's and R's blame D's - but those accusations (and I have made them, too, sorry to say) are far too simplistic to help us fix the problem. Here's a list of contributors to the perfect storm.
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POPSCongress OKs Bill to Improve Broadband Access Such an analysis might provide some insight as to why the U.S. -- the birthplace of the Internet -- lags behind other developed countries in broadband usage. The Organization for Economic Cooperation and Development ranks the U.S. 15th for broadband penetration. Rep. Edward Markey, D-Mass., who sponsored a similar bill that passed the House earlier this year, supported the legislation. "This initiative will help us ascertain whether the nation is achieving its broadband policy goals because, unfortunately, our current knowledge on the state of broadband deployment, speed and affordability in the U.S. is grossly and inexcusably lacking," Markey said.
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POPSSep 30th: Rosh Hashanah - Culture trumps country Today is the first day of the Jewish holiday, Rosh Hashanah, start of the civil year in the Hebrew calendar. Members of the USA congress are taking the next two days off, despite the fragile condition of the US economy.
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POPSWhy Americans Can't Get US Oil That last statement seems to be true. I rarely come to clipmarks that I don't see articles detailing the harm of wind, solar, nuclear, etc.
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POPSAnyone Remember the Cost of The Wars? Estimates of the true long-term costs of the President's war of choice, including payments of health care and veterans benefits into the distant future, soar into the budgetary stratosphere. They range from the Congressional Budget Office's $1-2 trillion to an estimate by economists Joseph Stiglitz and Linda J. Bilmes of up to $4-5 trillion. So we're talking somewhere between one-and-a-half and seven bailouts-worth of taxpayer dollars flowing into the morass of disaster, corruption, and carnage in Iraq. As Chalmers Johnson, author most recently of Nemesis: The Last Days of the American Republic, the final volume of his Blowback Trilogy, has pointed out for years, the Pentagon, the military-industrial complex, and America's wars are in the process of bankrupting us.
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POPSWhy Would Warren Buffett Stoop So Low?
The market still works! With all due respect to Buffett, nobody has yet made a compelling case to me that there is, in fact, a crisis that extends much beyond overleveraged banks with bad business practices. There's a simple fact lost among all of this fearmongering and jawboning about how bad things could get if the government doesn't throw $700 billion (or more) at failing financial institutions. The stock and vulture-capital markets are still generally working, in spite of the cries from politicians and failing speculators to the contrary. The market also has a really good mechanism to help struggling financial companies get money. It's called "price," and it's still functioning. You can see it in action by looking at the one-year CD rates that various banks are offering to entice people to deposit money with them. When the people lobbying the hardest for a bailout are those who stand to benefit from it, you have to ask whether their motives are altruistic or self-serving.
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POPSTHE SHIT PEDDLERS All the myths that are floated as truth, is nauseating beyond the puke bucket. The right-winged, learned ones who perhaps didn't sleep through all of their college courses, whip out the dialogue of mendacity every time they are threatened to be overthrown by THE OTHER PARTY. Oh they keep their fairytale myths alive all through their years of control but election time is when they really roll up their sleeves and get the SHIT shovels lined up to cover us all in blankets of Repulsive Untruths against our common senses and THE OTHER PARTY. I picked up a newspaper belonging to a red bible belt area where many of the followers or better word SHEEP live and who desperately want to believe the crap their Right-winged commanders spew forth, even if it doesn't quite make sense to them. MORE BELOW or follow this link... http://www.thethinkingblue.com/shitpeddlers.html
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POPSpork barrel politics (cont.)Legislation authorizing improvements in rivers and harbors, flood control and dams, construction of federal buildings, and highway construction traditionally caused members to scramble to get something in for their state or district. More recently, energy and defense appropriations bills have attracted pork barrel amendments. Members of Congress defend their pork barrel efforts as a way of more evenly distributing federal money throughout the nation. But critics charge that Congress often diverts funds to projects and places not out of national need but to enhance members' chances of reelection. Senator Norris Cotton (Republican–New Hampshire), who served on the Appropriations Committee, spoke for many when he ca
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POPSHelp Sourcing Text/Bill Proposal/HelpAnybody? Found on newsgroup.No source cited. Bill may have minimized this mess? I've searched phrases but only get results where the words are scattered across some unrelated text. Enlightening proposal. Who spoke? Who fought against? Currently sitting? It does not link me to govtrack from the newsgroup and when I go around and to govtrack.us from the outside I can't find THIS bill. This seems crucial to deciphering the current situation.
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