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Keyword: govwatch

Brevity: Headers | « Text »
  • A gas tax... for livestock?

    11/28/2008 6:18:52 PM PST · by 2ndDivisionVet · 29 replies · 2,324+ views
    The High Plains / Midwest Ag Journal ^ | November 28, 2008 | Ken Root
    The proposal is finally out there that will regulate all emissions of greenhouse gases released into the atmosphere, even if they are the bodily functions of livestock. Ridiculousness aside, the goal of curbing the release of carbon and hydrogen into the air is going to reach all the way to the rangeland of Kansas, the hog lots of Iowa and the front yard of the American home. Don't over-react or under-react to the desire of the public to control global warming. Don't deny the volume of methane that a cow can generate on a good day of grazing. There is...
  • Minority Report-style CCTV that spots crimes BEFORE they happen

    11/27/2008 5:32:11 PM PST · by Stoat · 13 replies · 639+ views
    The Daily Mail (U.K.) ^ | November 28, 2008 | James Slack
    CCTV cameras which can 'predict' if a crime is about to take place are being introduced on Britain's streets. The cameras can alert operators to suspicious behaviour, such as loitering and unusually slow walking. Anyone spotted could then have to explain their behaviour to a police officer. The move has been compared to the Tom Cruise science-fiction film Minority Report, in which people are arrested before they commit planned offences. It will also fuel fears that Britain is becoming a surveillance society. There are already 4.2million cameras trained on the public. The technology could be used alongside many of...
  • Get FREE Government Money Now!!

    11/26/2008 6:38:31 AM PST · by reaganaut1 · 9 replies · 756+ views
    $10,000, $20,000 even $50,000 free money available in government grants find out how to access this money with an easy to use FREE kit while quantities last find out TODAY don't let this great opportunity pass you by.The government administers a vast number of programs that provide grants to individuals who qualify. People use this FREE money to help them pay for their kids' school, start a business, buy a house, have the chance to go to college and many other opportunities to help you realize the American dream. Just like eighteen year olds who qualify for government grants so...
  • Transparency in Government Spending

    11/26/2008 7:29:00 AM PST · by nateriver · 1 replies · 307+ views
    Thanks to a bill President –elect Barack Obama help pass in 2006 we will be able to see where some of the billions of tax dollar he will spend will go. Inspired by this bill by Senator T. Colburn and Obama, elected officials at the state level also set up internet sites where taxpayers can now be “fiscal watchdogs”.
  • Social services 'set up CCTV camera in couple's bedroom'(U.K)

    11/25/2008 10:10:09 AM PST · by thetru · 35 replies · 2,202+ views ^ | 23 Nov 2008 | Martin Beckford
    Social services 'set up CCTV camera in couple's bedroom' Social workers set up a CCTV camera in the bedroom of a couple with learning difficulties in order to monitor their behaviour, a new report claims. By Martin Beckford, Social Affairs CorrespondentCouncil staff are said to have spied on the young parents at night as part of a plan to see if they were fit to look after their baby, who was sleeping in another room. The mother and father were forced to cite the (Human Rights Act), which protects the right to a private life, before the social services team...
  • UK forests & rivers may be sold

    11/25/2008 9:12:51 AM PST · by TenthAmendmentChampion · 7 replies · 377+ views
    Off-Grid Newsletter ^ | 23 Nov 2008 | Nick Rosen
    Canals and forests, going, going….goneHaving nationalised the banks, Britain’s Labor government looks set to sell off the country’s forests and waterways to private buyers, in an attempt to balance the books ahead of the next election. The Forestry Commission which manages the country’s forest stock and British Waterways,the body that manages Britain’s rivers and canals, both control huge swathes of land that would be ideal for off-grid living. In the event they were sold, these possibilities may disappear, although they may also move up the agenda as the new owners attempt to maximise profitablity. British Waterways currently allows live-in vessels...
  • Joint Statement by Treasury, Federal Reserve and the FDIC on Citigroup

    11/23/2008 9:38:45 PM PST · by rabscuttle385 · 31 replies · 1,054+ views
    FDIC ^ | 2008-11-24
    Washington, DC — The U.S. government is committed to supporting financial market stability, which is a prerequisite to restoring vigorous economic growth. In support of this commitment, the U.S. government on Sunday entered into an agreement with Citigroup to provide a package of guarantees, liquidity access and capital. As part of the agreement, Treasury and the Federal Deposit Insurance Corporation will provide protection against the possibility of unusually large losses on an asset pool of approximately $306 billion of loans and securities backed by residential and commercial real estate and other such assets, which will remain on Citigroup's balance sheet....
  • Time to re-examine, re-invent the ag department

    11/23/2008 5:32:31 PM PST · by 2ndDivisionVet · 7 replies · 569+ views
    The Land ^ | November 23, 2008 | Alan Guebert
    One of the more astute observations on the role of government in farm policy ever uttered was offered by then-congressman, later (from 1991-93) secretary of agriculture, Ed Madigan. “The majority of farmers,” Madigan, a moderate Republican, told me in a September 1984 interview between campaigning around his central Illinois district, “just want to be left alone.” So, added the Ranking Member of the House ag committee, “I leave ’em alone.” Twenty-five years and hundreds of billions of taxpayer dollars later, Madigan’s leave-’em-alone admonition remains as true as it is unheeded. A generation of expensive, expansive policy has delivered a corporate...
  • Citigroup, U.S. in Talks to Create 'Bad Bank'

    11/23/2008 2:22:42 PM PST · by jimbo123 · 48 replies · 1,715+ views
    Wall Street Journal ^ | 11/23/08 | DAVID ENRICH and CARRICK MOLLENKAMP
    Citigroup Inc. is nearing agreement with U.S. government officials to create a structure that would house some of the financial giant's risky assets, according to people familiar with the situation. While the discussions remain fluid and might not result in an agreement, talks were progressing Sunday toward creation of what would essentially be a "bad bank." That structure would help Citigroup cleanse its balance sheet of billions of dollars in potentially toxic assets, these people said. The bad bank also might absorb assets from Citigroup's off-balance-sheet entities, which hold $1.23 trillion. Some of those assets are tied to mortgages, and...
  • Plan Begins to Emerge to Rescue Citigroup

    11/23/2008 2:19:31 PM PST · by jimbo123 · 22 replies · 1,067+ views
    NY Times ^ | 11/23/08 | ERIC DASH and GRETCHEN MORGENSON
    Federal regulators were considering a new rescue for Citigroup on Sunday, a step that could mark a third leg of the government’s broader efforts to bolster the nation’s financial industry, according to people briefed on the plan. Under the proposal, the government would shoulder losses at Citigroup if those losses exceeded certain levels, according to these people, who spoke on the condition that they not be identified because the plan was still under discussion. If the government should have to take on the bigger losses, it would receive a stake in Citigroup.
  • Urban tolls would reduce cost of housing, provide major social benefits study shows

    11/23/2008 9:33:02 AM PST · by Lorianne · 57 replies · 1,466+ views
    Toll Road News ^ | 16 November 2008
    An elaborate modeling of housing prices and traffic congestion in cities across the US concludes that financing roads with comprehensive congestion priced tolls rather than taxes rather would provide major benefits in reducing housing prices and sub-optimal densities - 'sprawl' - as well as reducing the familiar delays and uncertain travel times. Moving to tolls or other direct road use charges will significantly improve overall welfare, economic efficiency and standards of living, the study says. Authors are Ashley Langer University of California Berkeley and Clifford Winston, Brookings Institution. The study is reported in Brookings-Wharton Papers on Urban Affairs 2008. ......
  • Woes at Citigroup Began With Failed Bid for Wachovia

    11/22/2008 7:04:26 PM PST · by rabscuttle385 · 14 replies · 1,426+ views
    The New York Times ^ | 2008-11-21 | Ben White & Vikas Bajaj
    Less than two months ago, Citigroup emerged from the wreckage of the financial crisis as one of the last titans left standing on Wall Street. Now, in a stunning turnabout, the banking giant has sunk to its knees after a series of blows that have driven its stock price to a mere $3.77 on Friday — and left it running short on time and options. In the decade since Citigroup was born from the merger of Citicorp and Travelers Group, it weathered many storms that threatened to pull it apart. But the current turmoil can be traced back to the...
  • FDIC will guarantee up to $1.4T in bank debt

    11/22/2008 5:57:54 PM PST · by rabscuttle385 · 18 replies · 607+ views
    AP via Google ^ | 2008-11-21 | Marcy Gordon
    WASHINGTON (AP) — Federal regulators will guarantee as much as $1.4 trillion in U.S. banks' debt in a bid to get the distressed financial system pumping again. They also took steps Friday to make it easier for private investors to buy banks seized by the government. . . . . . Directors of the Federal Deposit Insurance Corp. voted to approve the bank-debt guarantee program, which is part of the government's financial rescue package. The FDIC program is meant to break the crippling logjam in bank-to-bank lending by guaranteeing the new debt in the event of payment default by the...
  • Citigroup, Under Siege, Holds Talks With U.S.

    11/21/2008 6:39:32 PM PST · by rabscuttle385 · 107 replies · 5,005+ views
    The New York Times ^ | 2008-11-22 | Andrew Ross Sorkin & Louise Story
    With the sharp stock-market decline for Citigroup rapidly becoming a full-blown crisis of confidence, the company’s executives on Friday entered into talks with federal officials about how to stabilize the struggling financial giant. In a series of tense meetings and telephone calls, the executives and officials weighed several options, including whether to replace Citigroup’s leadership or sell all or part of the company. Other options discussed included a public endorsement from the government or a new financial lifeline, people involved in the talks said. The course of action, however, remained uncertain on Friday night, these people said, and other options...
  • Bank Acquisition Information for PFF Bank and Trust, Pomona, CA

    11/21/2008 6:33:15 PM PST · by rabscuttle385 · 3 replies · 597+ views
    FDIC ^ | 2008-11-21
    On November 21, 2008, the banking operations of PFF Bank and Trust, Pomona, CA was sold in a transaction facilitated by the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC).
  • Bank Acquisition Information for Downey Savings and Loan Association, F.A., Newport Beach, CA

    11/21/2008 6:31:22 PM PST · by rabscuttle385 · 8 replies · 979+ views
    FDIC ^ | 2008-11-21
    On November 21, 2008, the banking operations of Downey Savings and Loan Association, F.A. - Newport Beach, CA was sold in a transaction facilitated by the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC).
  • The Community Bank closed, 20th failure of the year [FDIC Friday]

    11/21/2008 6:28:02 PM PST · by rabscuttle385 · 7 replies · 765+ views
    MarketWatch ^ | 2008-11-21 | John Letzing
    SAN FRANCISCO (MarketWatch) -- Loganville, Ga.-based The Community Bank has been closed by regulators, the Federal Deposit Insurance Corp. said late Friday, marking the 20th bank failure so far this year amid the ongoing financial crisis. All of The Community Bank's deposits have been transferred to Tappahannock, Va.-based Bank of Essex, the FDIC said, and all four of The Community Bank's branches will reopen Monday as Bank of Essex.
  • Prosecutor who had Cheney indicted yells at judge

    11/21/2008 5:41:29 PM PST · by deaconjim · 27 replies · 1,745+ views
    Yahoo! News ^ | November 21, 2008 | CHRISTOPHER SHERMAN, Associated Press Writer
    Prosecutor who had Cheney indicted yells at judge By CHRISTOPHER SHERMAN, Associated Press Writer RAYMONDVILLE, Texas – A county prosecutor who brought indictments this week against Vice President Dick Cheney and others pounded his fist and shouted at the judge Friday during a routine hearing. Willacy County District Attorney Juan Angel Guerra asked Presiding Judge Manuel Banales to recuse himself from the case, which alleges abuse at federally run prisons. Attorneys for the vice president and other defendants leapt to their feet in objection as Guerra pounded the table and accused Banales of giving the defendants special treatment. "Now all...
  • Davey Crockett and Farmer Bunce

    11/19/2008 12:03:44 PM PST · by Born In America · 5 replies · 521+ views
    The Life of Colonel David Crockett ^ | Sometime in 1884 | compiled by: Edward S. Elis (1884)
    "Several years ago I was one evening standing on the steps of the Capitol with some other members of Congress, when our attention was attracted by a great light over in Georgetown. It was evidently a large fire. We jumped into the hack and drove over as fast as we could. When we got there, I went to work, and I never worked as hard in my life as I did there for several hours. But, in spite of all that could be done, many houses were burned and many families made houseless, and, besides, some of them had lost...
  • New forecast: State budget shortfall $5B [WA state, up from 3.2B in Sept]

    11/19/2008 12:34:24 PM PST · by sionnsar · 22 replies · 1,027+ views
    Seattle Times ^ | 11/19/2008 | Andrew Garber
    The bottom just fell out of the state budget. A new state forecast released this morning estimates tax revenues will drop an additional $1.9 billion below projections. If that number holds true, state lawmakers could face about a $5 billion shortfall when they meet in January to put together a new two-year budget. That's up from a $3.2 billion gap projected in September. "This is as bad as I've ever seen it," said Victor Moore, the governor's budget director. Growth in state tax revenues have fallen sharply...
  • Bankruptcy only path to salvation

    11/19/2008 6:24:53 AM PST · by Graybeard58 · 39 replies · 862+ views
    Waterbury Republican-American ^ | November 19, 2008 | Editorial
    The U.S. economy is in the toilet because Congress, led by Sen. Christopher Dodd and Rep. Barney Frank, browbeat lenders into giving mortgages to unqualified borrowers. To date, the government has allocated almost $4 trillion it doesn't have to try to repair the resulting economic damage. Unchastened by the experience, Congress may lend the nation's Big Three automakers $25 billion to keep them afloat into 2009. Congress has become the bank of last resort for General Motors, Ford and Chrysler because they no longer can get private financing. For good reason. Combined, they have a negative net worth exceeding $60...
  • Sex-abuse caseworker accused of soliciting (Truth stranger than fiction)

    11/17/2008 7:32:30 PM PST · by buccaneer81 · 7 replies · 2,028+ views
    The Columbus Dispatch ^ | November 17, 2008 | John Futty
    Sex-abuse caseworker accused of soliciting Monday, November 17, 2008 9:50 PM By John Futty THE COLUMBUS DISPATCH A Franklin County caseworker who investigates child sexual abuse is accused of soliciting a Columbus vice detective for sex at her Far West Side condominium. Vanise M. Dunn, an employee of Franklin County Children Services, was arrested at 11:41 a.m. Wednesday on a misdemeanor charge of prostitution. Police say she offered the detective oral sex for $150. She pleaded not guilty on Friday and requested a jury trial. Dunn, 31, was placed on paid leave pending an investigation into whether she violated agency...
  • Inhofe: Cancel the 'blank check'

    11/16/2008 7:18:28 PM PST · by Pantera · 63 replies · 1,793+ views
    Tulsa World (From Drudge) ^ | 11/16/2008 | Jim Myers
    He criticizes Henry Paulson for changing the $700 billion bailout plan. WASHINGTON — U.S. Sen. Jim Inhofe said Saturday that Congress was not told the truth about the bailout of the nation's financial system and should take back what is left of the $700 billion "blank check'' it gave the Bush administration. "It is just outrageous that the American people don't know that Congress doesn't know how much money he (Treasury Secretary Henry Paulson) has given away to anyone,'' the Oklahoma Republican told the Tulsa World. "It could be to his friends. It could be to anybody else. We don't...
  • Gingrich Explains Why He Did Global Warming Ad With Pelosi

    11/16/2008 3:05:24 PM PST · by neverdem · 104 replies · 3,589+ views ^ | 2008-04-23 | Noel Sheppard
    Former Speaker of the House Newt Gingrich recently did a global warming ad with Nancy Pelosi that was sponsored by Nobel Laureate Al Gore's Alliance for Climate Protection (embedded right).Obviously, he has taken a lot of heat -- no pun intended -- from conservatives for not only staking out a seemingly unconservative position on this controversial issue, but doing so in such a high-profile way with the likes of Pelosi and Gore.Update: Sheppard responds to his critics at end of post.With that in mind, Gingrich posted the following explanation [1] at his blog (emphasis added, h/t Terra Rossa [2]): The...
  • A case of irony or poetic justice?

    11/16/2008 8:24:44 AM PST · by rellimpank · 1 replies · 666+ views
    Las Vegas Review-Journal ^ | 16 nov 08 | Vin Suprynowicz
    The Nevada Democratic Party and its affiliated unions did a great job turning out voters for the Nov. 4 general election and placing in the hands of many of those voters endorsement sheets "recommending" how they might vote -- all the way down the ballot to the supposedly "non-partisan" elections for judgeships, School Board, etc. The Democratic Party also had huge success with its sleazy million-dollar direct-mail campaign against Nevada state Sens. Joe Heck and Bob Beers, who they targeted based on growing Democratic registrations in Senate districts 5 and 6 -- the overall goal being to seat enough Democrats...
  • Raise the Gas Tax (Barf)

    11/15/2008 5:01:06 PM PST · by TornadoAlley3 · 41 replies · 1,073+ views
    washingtoncompost ^ | 11/16/08 | Editorial
    Energy independence won't happen if falling gas prices lead to a resumption of bad habits. THE PRICE OF crude oil closed at $57.04 a barrel on Friday. That's about $90 cheaper than it was in July. The average price of a gallon of regular gasoline Friday was $2.15, nearly $2 less than it was in July. This is definitely good news for the battered American consumer. But we fear that the temptation to return to gas-guzzling vehicles, to drive more and to forget the painful lessons learned last summer will be too great to resist.
  • Coal plants jeopardized over climate

    11/14/2008 5:14:18 PM PST · by Lorianne · 16 replies · 519+ views ^ | 12 N0vember 2006 | Josef Hebert
    The fate of scores of new coal-burning power plants is now in limbo over whether to regulate heat-trapping greenhouse gases. The uncertainty resulted when an Environmental Protection Agency appeals panel on Thursday rejected a federal permit for a Utah plant, leaving the issue for the Obama administration to resolve. The panel said the EPA's Denver office failed to adequately support its decision to issue a permit for the Bonanza plant without requiring controls on carbon dioxide, the leading pollutant linked to global warming. The matter was sent back to that office, which must better explain why it failed to order...
  • Utah coal plant permit blocked by EPA panel

    11/13/2008 5:40:42 PM PST · by TornadoAlley3 · 48 replies · 1,550+ views ^ | 11/13/08 | H. JOSEF HEBERT
    WASHINGTON (AP) — The Environmental Protection Agency was blocked Thursday from issuing a permit for a proposed coal-burning power plant in Utah without addressing global warming. The ruling by an agency appeals panel means the Obama administration probably will determine the fate of other similar plants.
  • Seattle Parks seeking to ban nudity

    11/13/2008 9:18:53 AM PST · by Red Badger · 25 replies · 1,330+ views ^ | 11/13/2008 | By Erik Lacitis
    This city's famous tolerance for the unconventional just got a little less so. Here is a message from Seattle Parks and Recreation to all you nature lovers: Cover up those rear ends or face a possible criminal-trespass prosecution. The proposed rule will have a public hearing Jan. 8, and parks commissioners will make a recommendation to Parks Superintendent Tim Gallagher two weeks later. That means you types who like to sneak a little skinny dipping at one of the city's beaches. That means you naturists who like to get together in some secluded park location, and ... barbecue naked! Maybe...
  • Oregon: "GPS And Taxes..."

    11/13/2008 6:31:24 AM PST · by chrislind2 · 22 replies · 1,248+ views
    The Washington Dispatch ^ | Jul 18, 2003 | Cathryn Crawford
    GPS And Taxes: An Intrusive Combination The Washington Dispatch ^ | July 18, 2003 | Cathryn Crawford Posted on Friday, July 18, 2003 7:07:28 AM by Cathryn Crawford GPS And Taxes: An Intrusive Combination by Cathryn Crawford Jul 18, 2003 Some things just aren’t that shocking anymore. Oregon, the state known for its law that fines you for speaking out against a public worker or a state official, has a new socialistic program in mind. It’s a dream come true for the government, both state and federal, in that it not only promotes the idea of Big Brother, but it...
  • U.S. takes early steps toward offshore drilling expansion

    11/12/2008 7:31:51 PM PST · by Red Steel · 7 replies · 577+ views
    Houston Chronicle ^ | November 12, 2008 | KRISTEN HAYS Houston Chronicle
    The Interior Department is seeking public comment on the possibility of selling oil and gas leases 50 miles or more from Virginia’s shore, an area that has been off limits along with most U.S. federal waters for more than 20 years. Randall Luthi, director of the Minerals Management Service, the agency that regulates offshore oil and gas activity, said today that the call for public comments as well as intent to submit statements on environmental impacts are the first steps in a “scoping process” for a lease sale tentatively scheduled for 2011. In July, President Bush lifted a presidential ban...
  • Paulson Rolls Out New TARP ( No Bad Mortgage Bailout for Banks as Promised)

    11/12/2008 2:57:45 PM PST · by Candor7 · 16 replies · 731+ views
    Yahoo Finance Newsmakers ^ | Nov 12, 2008 12:59pm EST | Aaron Task
    Bailout Improv: Paulson Rolls Out New TARP With the first half of the $700 billion TARP program nearly depleted, Treasury Secretary Hank Paulson spoke today to both defend the program, and announce some changes going forward. Paulson's comments come amid criticism of his handling of the bailout and a political battle over whether the government should rescue U.S. automakers. Assuming the answer is "yes", the debate — starting as early as next week in a lame-duck session — will be over whether or not the funds come from the second $350 billion of TARP money, which requires Congressional authorization (however...
  • GE says gets FDIC backing for $139 billion in debt

    11/12/2008 2:56:24 PM PST · by Shermy · 60 replies · 2,194+ views
    Reuters ^ | November 12, 2008
    BOSTON (Reuters) – General Electric Co (GE.N) has secured the temporary backing of the Federal Deposit Insurance Corp for up to $139 billion of the debt of its finance arm, a spokesman said on Wednesday. "We are eligible now and included in the FDIC temporary liquidity guarantee program," said Russell Wilkerson, a spokesman for the U.S. conglomerate.
  • Boehner Wants Transparency on Bailout Money [Bloomberg FOIA]

    11/12/2008 12:53:51 PM PST · by rabscuttle385 · 36 replies · 1,050+ views
    Roll Call ^ | 2008-11-12 | Stephen T. Dennis
    House Minority Leader John Boehner (R-Ohio) took a whack at the Bush administration on Wednesday for failing to disclose all of the financial institutions that are getting emergency loans under the $700 billion bailout. Boehner said the Treasury and Federal Reserve should comply with a Freedom of Information Act request into who is receiving taxpayer money, and “they must begin providing lawmakers and taxpayers all information about how they are using federal tax dollars.” Boehner said the bipartisan negotiations behind the financial bailout package stressed the need for meaningful oversight of how the money was being spent.
  • Social Worker: “All Homeschoolers Get Psychological Evaluations”

    11/11/2008 2:51:52 PM PST · by Sopater · 104 replies · 672+ views
    The Smiths (named changed to protect privacy), an HSLDA member family in Miami, received an unexpected note on their front door from a social worker asking them to call the number on an attached business card. Little did they know, this was the beginning a nightmare they would not soon forget. The father, a doctor, telephoned as requested. The social worker to whom he spoke asked to meet the family. Dr. Smith requested that the meeting be at a neutral site at a time that would minimize interruptions in his busy work schedule at a medical clinic. The social worker...
  • Ex-AIG CEO says government support will have to continue [calls $700B bailout "woefully inadequate"]

    11/11/2008 2:31:21 PM PST · by rabscuttle385 · 42 replies · 494+ views
    Reuters ^ | 2008-11-11 | Lilla Zuill
    NEW YORK (Reuters) - Former American International Group Inc (AIG.N) Chief Executive Maurice "Hank" Greenberg said on Tuesday the U.S. government support for the giant insurer will have to continue until the hobbled company is back on its feet.
  • Milwaukee Puts Vote Fraud Cop Out of Business

    11/11/2008 12:10:02 PM PST · by PBRCat · 13 replies · 424+ views
    The Wall Street Journal ^ | November 4, 2008 | John Fund
    Mr. Sandvick's unit released a 67-page report on what it called an "illegal organized attempt to influence the outcome of (the 2004) election in the state of Wisconsin" -- a swing state whose last two presidential races were decided by less than 12,000 votes. The report found that between 4,600 and 5,300 more votes were counted in Milwaukee than the number of voters recorded as having cast ballots. Absentee ballots were cast by people living elsewhere; ineligible felons not only voted but worked at the polls; transient college students cast improper votes; and homeless voters possibly voted more than once....
  • Next Bailout On the Horizon: Pensions

    11/11/2008 11:12:05 AM PST · by Fox_Mulder77 · 1 replies · 122+ views
    Stealthy News ^ | November 11, 2008 | Tom Fox
    Tax payer funded bailouts seem to be the "in" thing in Washington these days. And it seems a new bailout may be on the horizon: pensions. The president of the National Retiree Legislative Network is begging congress to act and prevent a collapse of pension plans across the nation. Is anyone in Washington listening?!? “The ‘perfect storm’ is bearing down on the pension plans of America’s workers and retirees,” said Bill Kadereit, NRLN president. “Congress needs to close loopholes in pension laws that allow companies to use pension plan assets for restructuring and downsizing.” “Congress should immediately amend the Employee...
  • Obama likely to escape campaign audit (What McCain was thinking ALERT)

    11/11/2008 9:26:49 AM PST · by 11th Commandment · 85 replies · 1,371+ views
    Politco (via YAHOO) ^ | 11/11/08 11:14 AM EST | KENNETH P. VOGEL
    The Federal Election Commission is unlikely to conduct a potentially embarrassing audit of how Barack Obama raised and spent his presidential campaign’s record-shattering windfall, despite allegations of questionable donations and accounting that had the McCain campaign crying foul. Adding insult to injury for Republicans: The FEC is obligated to complete a rigorous audit of McCain’s campaign coffers, which will take months, if not years, and cost McCain millions of dollars to defend.
  • Obama likely to escape campaign audit

    11/11/2008 9:29:50 AM PST · by Species8472 · 91 replies · 815+ views ^ | 11/11/08 | KENNETH P. VOGEL
    The Federal Election Commission is unlikely to conduct a potentially embarrassing audit of how Barack Obama raised and spent his presidential campaign’s record-shattering windfall, despite allegations of questionable donations and accounting that had the McCain campaign crying foul. Adding insult to injury for Republicans: The FEC is obligated to complete a rigorous audit of McCain’s campaign coffers, which will take months, if not years, and cost McCain millions of dollars to defend. Obama is expected to escape that level of scrutiny mostly because he declined an $84 million public grant for his campaign that automatically triggers an audit and because...
  • WSJ Editorial: Pay-go is Gone

    11/11/2008 8:48:24 AM PST · by St. Louis Conservative · 11 replies · 196+ views
    Newsbusters ^ | November 11, 2008 | Tom Blumer
    Showing once again that its opinion pieces serve a dual purpose as a news source, a Monday Wall Street Journal editorial noted that Democrats have quietly dropped a central plank of their successful 2006 effort to gain a congressional majority (HT Hot Air): Late last week the leader of the House Blue Dog Coalition, Tennessee Democrat Jim Cooper, announced that with Barack Obama about to enter the White House, "I'm not sure the old rules are relevant anymore." Why not? Because, Mr. Cooper said, "It would be unfair to the new President to put him in a budget straitjacket." Democrats...
  • Dumb Growth: Trading Sustainable Water for the Fools Gold of Global Warming

    11/11/2008 7:14:14 AM PST · by WayneLusvardi · 4 replies · 176+ views
    Pasadena Sub Rosa ^ | November 11, 2008 | Wayne Lusvardi
    Economist Tom Sowell once aptly wrote that “there are no solutions; there are only tradeoffs.” This can be no better seen than in the recent enactment of California Senate Bill 375 which will unknowingly trade precious groundwater resources for “Smart Growth” anti-urban sprawl policies. Under this legislation water will no longer be gold in California ; ethereal concepts about reducing “global warming” and producing “green power” will be California ’s new fools gold. It is little wonder that California is experiencing a “perfect drought” with the adoption of such policies. SB 375 is a piece of legislation which requires regional...
  • Shareholder sues AIG over U.S. government bailout

    11/10/2008 7:56:29 PM PST · by rabscuttle385 · 15 replies · 198+ views
    Reuters ^ | 2008-11-05 | Grant McCool
    NEW YORK (Reuters) - A shareholder claimed in a lawsuit that American International Group (AIG.N) violated her rights by accepting the U.S. government's $85 billion bailout in September in exchange for a majority stake in the insurer.
  • Bailouts Merely Institutionalize U.S. Mediocrity

    11/10/2008 5:40:40 PM PST · by rabscuttle385 · 29 replies · 358+ views
    Investor's Business Daily ^ | 2008-11-11 | Frank Ryan
    The automobile industry is at a crossroads. The speaker of the House recently met with management and labor about a government-sponsored bailout. Many speak with awe of the bailout of Chrysler many years ago during the Carter administration. They reminisce how Chrysler repaid the money and the government benefited financially. But is this a memory clouded by time? Did the bailout enable Chrysler to ignore the systemic problems in its industry as well as with Chrysler itself, virtually guaranteeing its need for another bailout or its ultimate demise? Anytime you bail out a company or an industry, you merely institutionalize...
  • Fed refuses to identify recipients of $2 Trillion

    11/10/2008 6:39:15 AM PST · by rabscuttle385 · 142 replies · 1,289+ views
    Link only due to FR policy.
  • Feds just closed down Security Pacific Bank

    11/07/2008 6:07:36 PM PST · by dragnet2 · 28 replies · 3,342+ views
    KFI Los Angeles AM640 ^ | 11/7/08 | KFI Los Angeles
    Will open Monday under new receivership. Just breaking. Announced at on Friday evening.. Oh yeah.
  • Prosperity Bank Acquires All the Deposits of Franklin Bank, S.S.B., Houston, Texas [FDIC Friday!]

    11/07/2008 4:58:52 PM PST · by rabscuttle385 · 7 replies · 667+ views
    FDIC ^ | 2008-11-07
    Franklin Bank, S.S.B., Houston, Texas, was closed today by the Texas Department of Savings and Mortgage Lending, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Prosperity Bank, El Campo, Texas, to assume all of the deposits, including those that exceeded the insurance limit, of Franklin Bank. Franklin Bank's 46 offices will reopen as branches of Prosperity Bank under their normal hours, including those with Saturday hours. Depositors of the failed bank automatically become depositors of Prosperity Bank. Customers of both banks should continue to...
  • Baldacci orders agencies to cut $150M (BIG government meltdown alert!)

    11/06/2008 11:37:53 AM PST · by mainestategop · 10 replies · 958+ views
    Bangor Daily News ^ | 11/05/08 | Mal Leary
    AUGUSTA, Maine — Gov. John Baldacci has told state agencies they have a week to come up with ways to cut $150 million from current state spending as state revenues fall further behind projections. “We are in a recession,” he said in an interview Wednesday. “I don’t want to cut, but I have an obligation to balance the budget.” Baldacci said Maine is not the only state facing steep declines in revenues, and he is having discussions with legislative leaders about whether to have a special session this month to make cuts he cannot make under the budget curtailment law...
  • Bad Refunds Issued By IRS In 2007 Reached $1 Billion

    10/31/2008 9:48:09 AM PDT · by Diana in Wisconsin · 2 replies · 243+ views
    All Headline News ^ | October 31, 2008 | AHN Staff
    Washington, D.C. (AHN) - Lack of resources to pursue all tax fraud cases was the explanation of the Internal Revenue Service for the over $1 billion bad refunds the agency issued in 2007. A report by the Treasury Department's inspector general for tax administration pointed out that due to the resource scarcity in IRS, its staff could not go through $742 million refunds. The IRS, in fact, identified $264 million fraudulent refunds, but by the time it did, the agency failed to stop the refunds from being sent. J. Russell George, the inspector general, urged the IRS to address its...
  • Obama Plans To Replace All 93 U.S. Attorneys On First Day In Office

    10/29/2008 6:40:59 PM PDT · by writer33 · 40 replies · 1,839+ views
    Elective Decisions ^ | 10/29/08 | Chris Davis
    Washington—As Senator Barack Obama, D-IL, measures the drapes in the Oval Office, one of his first reported moves is to fire and replace all 93 United States Attorneys on his first day. The decision comes from the Obama camp as it appears Senator John McCain has flamed out in the polls. With the election assured, Obama feels its time to flex his muscles and make the necessary announcements. And according to David Axelrod, Obama’s campaign strategist, “the election is over,” and it’s time to “implement change in America.”