In the News: October 6th-7th, 2008

CT

Little list of some headlines if you are just coming to the table.

_____________________________________________________________________________________





Wall Street tumbles amid global sell-off

JOE BEL BRUNO and TIM PARADIS AP Business Writers- Wall Street suffered through another traumatic session Monday, with the Dow Jones industrials plunging as much as 800 points and setting a new record for a one-day point drop as investors despaired that the credit crisis would take a heavy toll around the world. The Dow also fell below 10,000 for the first time since 2004, and all the major indexes fell about 5 percent.

The catalyst for the selling was the growing realization that the Bush administration's $700 billion rescue plan and steps taken by other governments won't work quickly to unfreeze the credit markets. Moreover, investors are increasingly unnerved by the paralysis in the credit markets that has started to affect companies trying to borrow for acquisitions or just to conduct their daily operations. Read more...

Well, this problem has not completely, and I emphasize completely, filtered down to the level of the average consumer. But I think we will feel its effects more and more in the coming weeks. Rising unemployment, which we have been seeing, is the first indicator, small businesses starting to close their doors on a mass level, then rampant inflation. Keep in mind, cooler heads will prevail, this could actually be a time for a smart investor to make some money, in the long term. But if grabbing on to your guns and God isn't doing it for you anymore don't fret none you always have the Obamessiah.

_____________________________________________________________________________________

Key Obama adviser called for US military invasion of denuded Israel

by Israel Insider staff-Samantha Power, a key Obama adviser, called in 2002 for billions of dollars in US military aid to Israel to be invested instead in Palestine and in a "mammoth" US-backed military force to impose a solution to the "Palestine-Israeli situation" on the pretext of preventing Rwanda-like genocide.

The Irish-born Power, pegged as a leading candidate for a top foreign policy position in a prospective Obama administration, perhaps NSC Advisor or even Secretary of State, left the Obama campaign after she was quoted as calling Hillary Clinton a "monster."

But that dismissal did not reflect a reduction in her influence on Obama's thinking. And when it comes to the Mideast, her views of Israel and American Jews appear to resemble those of Obama's democratic rival. Read more...

How do you go from fighting against terrorist states like Palestine, to giving them military aid and money against our ally, Israel? You are getting a glimpse of an Obama Presidency where the lunatics run the asylum. His appointees to the various cabinet positions are going to be more dangerous than Biden and him combined. Plus you throw in a Democratic controlled Congress. Whew, we are in for a world of hurt over the next few years.
_____________________________________________________________________________________

Russia's warships head for exercise with Venezuelan navy

Michael Evans, Defence Editor, Times Online- Russia displayed its military strength in the Mediterranean yesterday after warships heading to Venezuela passed through the Strait of Gibraltar in the second deployment of Russian naval vessels in the waterway since the Cold War.

The nuclear-powered missile cruiser Peter the Great, accompanied by the Admiral Chabanenko, an anti-submarine destroyer, as well as a reconnaissance vessel and a support ship, are destined for a maritime exercise with the Venezuelan navy. Read more...

Are we seeing a pattern yet? I heard a great joke from Governor Huckabee, he stated that,"This might be the first time the victor in a Presidential election will demand a recount of the votes." Sorry to all the Obamination supporters out there, you cry about Palin's lack of experience? There aren't any courses at Columbia or Harvard titled, "How to dig your way out of a Global mess 101." And you sure as hell don't get the experience necessary to deal with Putin on the mean streets of Chicago running with your Community Activist posse. Simply put we are screwed.

___________________________________________________________________

Knock Out: CNBC Confirms Lehman CEO Punched at Gym

By Jeff Poor, Business & Media Institute- It seems anxiety from the financial crisis is reaching new highs, but the tipping point for one individual came at the Lehman Brothers gym in the midst of the company’s collapse.

While former Lehman CEO Richard Fuld was testifying before the House Oversight Committee Oct. 6, CNBC reported he had been punched in the face at the Lehman Brothers gym after it was announced the firm was going bankrupt. CNBC and Vanity Fair contributor Vicki Ward said Fuld was attacked at the gym on a Sunday following the bankruptcy. Read more...

Well this is what we have come to. Not that a part of me doesn't think he didn't deserve it, but let the courts handle this. Believe me heads will role and his will be one of them.

_____________________________________________________________________________________

-CT

"Happy Hunting!"

Continue reading ...

Krauthammer, Critical Thinking, and Sub-Lame Lamenting

Pundit,



Alright, as much as I don't like to, I have to give some cred to CT, he might have gotten a part of the Sub-Lame crisis causes right. His political writing idol, Charles Krauthammer, and him seem to agree at least on the start of the Bubble going pop! I am just glad I got to the Townhall rag before he did, I would have never heard the end of it.

For decades, starting with Jimmy Carter's Community Reinvestment Act of 1977, there has been bipartisan agreement to use government power to expand homeownership to people who had been shut out for economic reasons or, sometimes, because of racial and ethnic discrimination. What could be a more worthy cause? But it led to tremendous pressure on Fannie Mae and Freddie Mac -- who in turn pressured banks and other lenders -- to extend mortgages to people who were borrowing over their heads. That's called subprime lending. It lies at the root of our current calamity. [1]

My little resident brain child (sacrcasm)wrote this in An Obama Fact Check, Sub Prime Finger Pointing ,

Let's backtrack to the Community Reinvestment Act and its amendment n 1995, under then President, Bill Clinton. As passed by the Carter administration, the CRA was supposed to provide credit, including home ownership opportunities to undeserved populations and commercial loans to small businesses. [2]

This might be the technical reason, but, what the Hamster and CT forgot is the personal reason. Greed and forgetting about you and me, the working guys and girls. Changing outdated regulatory laws, make a quick buck with some creative financing, and let's giveaway money to people who cannot repay it. Nothing in there for the middle class average working stiff from either party. Repubs driven by helping the corporate rats and the Demos driven by helping people with their damn hands out. Where is our representation?

Now the Chuckster does go on to lament, yup anudder big wurd, about "hanging" corporate execs.

Capping executive pay is piffle. What we need are a few exemplary hangings. [1]

I might not be the smurtest guy in da' world, but I know sarcasm when I hear it. My opinion is break them, make them donate their fortunes to the American taxpayer. If you make enough money to pay into to taxes, you get a small check courtesy of Wall Street execs and their companies. It won't be much but it sure as hell will send a message. You screw the law abiding, bill paying, decent citizens of this country over, you will pay them back one way or another.

As I see it, CT got most of the technical aspects of the causes correct. But overlooked the need for reparations to the American people, as well as did Krauthammer. Repub morons and Demowitted tards, you better listen and listen well. Your time and chances are running thin. You better get with the program cause the peasants are sharpening up their pitch forks and getting the torches ready to burn. You butt monkeys are gonnna get your collective asses voted out of office sooner or later and then you can sit in your coffee shops pointing fingers at each other while someone else runs the country!

[1] The Economic Crisis: Clearing the Fog
[2] An Obama Fact Check, Sub Prime Finger Pointing

-OmegaPundit

"The last word on everything."

Continue reading ...