Keyword: regulators

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  • New report calls for ‘justice for millennials’

    07/18/2016 5:05:36 PM PDT · by BenLurkin · 45 replies ^ | 07/18/2016 | Luke Graham
    The report, "Stagnation Generation", calls for the social contract between young and old generations to be renewed, as millennials are at risk of becoming the first generation to earn less over their lifetime than earlier generations. According to the report, in the U.K. today's 27 year olds are earning the same amount as a 27 year old would have 25 years ago. "A typical millennial has actually earned £8,000 ($10,587) less during their twenties than those in the preceding generation – generation X," the report claims. ... Meanwhile, young people are failing to get onto the property ladder. The report...
  • Too Orange To Jail? US Government Drops Suit Against Countrywide's Mozilo

    06/17/2016 11:38:19 AM PDT · by ColdOne · 18 replies ^ | 6/17/16 | Tyler Durden
    U.S. prosecutors have abandoned their case against Angelo Mozilo, the over-tanned character at the center of the risky subprime mortgages that fueled the financial crisis, after a two-year quest to bring a civil suit against him. As Bloomberg reports, The Justice Department has decided not to sue Mozilo, according to people familiar with the matter, ending a decade-long hunt for someone, anyone to jail over what happened.
  • With Connecticut Foundations Crumbling, ‘Your Home Is Now Worthless’

    06/07/2016 4:27:57 PM PDT · by Theoria · 76 replies
    The New York Times ^ | 07 June 2016 | Kristin Hussey And Lisa W. Foderaro
    Sandra Miller was at work in January when her daughter called from their home here on Oakridge Drive with alarming news. The house was making loud noises, as if someone had jumped off the counter and landed with a bang. For seconds afterward, the house shook. A while later, it happened again, and again. Over the next several hours, terrifying bangs rattled the house. The next morning, Ms. Miller called Bill Neal, a structural engineer, who delivered the same stunning news to her that he has now told hundreds of homeowners: The concrete foundation was crumbling and, as a result,...
  • A very bad sign for all but America’s biggest cities

    05/31/2016 6:54:10 PM PDT · by Lorianne · 30 replies
    Washington Post ^ | 22 May 2016 | Jim Tankersley
    Americans in small counties are much less likely to start new businesses, a trend that jeopardizes the economic future of vast swaths of the country. ___ Americans in small towns and rural communities are dramatically less likely to start new businesses than they have been in the past, an unprecedented trend that jeopardizes the economic future of vast swaths of the country. The recovery from the Great Recession has seen a nationwide slowdown in the creation of new businesses, or start-ups. What growth has occurred has been largely confined to a handful of large and innovative areas, including Silicon Valley...
  • Why Not C-SPAN?

    03/31/2016 10:39:08 AM PDT · by dvan · 18 replies
    dvan | 3/31/2016 | dvan
    Are the rest of you as disgusted as I am with the current political process? This began over a year ago and has cost millions of dollars while no end is in sight. In fact we are no closer to having even a nominee for President. Wouldn't it be possible to host the debates on CSPAN as table discussions that could be run without the attacks and disputes that are fostered on the Media television channels? Wouldn't this be a more sensible way to present the candidates and their opinions? It could also eliminate the millions of dollars of fundraising....
  • Heard something profoundly disturbing today (Vanity)

    05/03/2016 4:23:41 PM PDT · by DuncanWaring · 167 replies
    Self | Today | Self
    Was talking to a recently-retired computer-science professor today; he said in the last few years he's been seeing students showing up in college who have literally Never. Used. A. Screwdriver. He has been teaching a higher-level class in automating control of a train setup. Part of the project is to assemble a train car from a kit. These kids have no idea how to do it.
  • They really DO think they've got money to burn! Rioters firebomb Greece's central bank

    11/12/2015 12:45:54 PM PST · by familyop · 9 replies
    Daily Mail ^ | 12 November 2015 | Jay Akbar
    Protesters threw Molotov cocktails at riot police and Greek's central bank building after a demonstration against austerity cuts turned violent today...Almost 25,000 people marched through the streets, as part of a 24 hour strike that has brought the capital to a standstill, to protest a new round of tax hikes and spending cuts. Flights were grounded, ships were docked, offices were empty and hospitals left with skeleton staff in the first major walkout in a year...Tsipras' left wing Syriza party, which leads the coalition government, has backed the strike but one protesting teacher said they have 'deprived every Greek of...
  • Farmers and ranchers are tired of EPA doubletalk

    04/22/2015 5:09:20 AM PDT · by thackney · 11 replies
    Drovers Cattle Network ^ | April 15, 2015 | Bob Stallman
    EPA claims that it’s simplifying regulations and making them easier to follow, but the fine print tells another story. Business owners around the country have joined with farmers and ranchers in speaking out on the Waters of the U.S. rule. More than 30 states also oppose the rule. Yet, even in the face of mounting opposition, the EPA still isn’t listening. EPA Administrator Gina McCarthy has unveiled her latest, campaign-style WOTUS spin, calling the effort the “Clean Water Rule” – as though a bumper-sticker approach to a complex regulation would change anything for people so profoundly affected by her agency’s...
  • NHTSA To Impose New Safe Testing

    05/19/2014 5:39:40 PM PDT · by RetiredTexasVet · 2 replies
    Bureaucrats Daily | 5-19-14 | Retired Texas Vet
    NHTSA announced today that GM (Government Motors) would be required to perform new tests and certify the results of those tests. GM will be required to engineer, test and certify that all sub-prime market vehicles can withstand a bowling ball or small child being attached to the keychain will not turn off the vehicle or disable the safety features of the vehicle. NHTSA studies have indicated that an inordinate number of sales of these vehicles by GM to customers that are Common Core public school graduates or have been recently released from institutions and do not possess significant common sense...
  • Dental regulators work to shut down teeth whitening businesses

    05/17/2014 3:55:07 PM PDT · by Olog-hai · 22 replies
    Fox News ^ | May 16, 2014 | Jonathan Serrie
    With her children grown, Trisha Eck thought it would be fun to go from being a stay-at-home mom to a small entrepreneur—so she rented a room at a medical spa, where she started her own business, Tooth Fairies Teeth Whitening. She purchased equipment and supplies from a vendor she met at a trade show, including non-prescription strength teeth whitening gels. Customers could purchase her products as a take home kit or apply them to their own teeth while visiting the spa. Since she’s not a dentist, Eck says she never performed the treatments on customers but was there to offer...
  • Guess Who Makes More Than Bankers: Their Regulators

    04/22/2014 7:22:47 AM PDT · by SeekAndFind · 2 replies
    Wall Street Journal ^ | 04/22/2014 | PAUL KUPIEC
    Long before George Bailey wrestled with Mr. Potter in "It's a Wonderful Life," the public decried the pay of top executives in large financial institutions. Overpaid bank executives are the villains in regulatory morality tales and feed distorted public perceptions about bankers' pay. It is true that the very top bank executives make more in a year than most of us make in a lifetime, but compensation of this magnitude is rare. Most banks in this country are small businesses and pay employees modest salaries. The Bureau of Labor Statistics reports that the average annual salary of a bank employee...
  • Schultz's Dirty Secret: Regulators 'Sheriff' Warren Scalded Are Obama Appointees

    02/15/2013 6:23:25 PM PST · by governsleastgovernsbest · 8 replies
    NewsBusters ^ | Mark Finkelstein
    Ed Schultz was in seventh heaven, lionizing Elizabeth Warren [new first name 'Sheriff'] for the way she grilled financial regulators for failing to take big banks to trial. Just one teenie-weenie factoid Ed failed to mention: those two regulators he showed Warren scalding during his MSNBC show tonight were appointed by, yup, President Barack Obama. View the video here.
  • Federal Regulators Admit That Clinton's Mortgage Scam Caused the Economic Crisis

    01/10/2013 6:56:15 PM PST · by Nachum · 27 replies
    Rush Limbaugh ^ | 1/10/13 | Rush
    RUSH: "Federal regulators for the first time are laying out rules," this is from the AP, "aimed at making sure that people who borrow money for mortgages can afford to repay them." Do you realize what this means? Do you realize what this means? "Federal regulators for the first time..." It's 2013! For the first time? This is a tantamount admission. Nobody's calling it this, except I, El Rushbo, except me. I'm telling you: It's a tantamount admission that the subprime mortgage mess was exactly what it was. It was people who were given loans that could never pay 'em...
  • Big US banks submit "living wills" to regulators

    07/03/2012 3:05:19 PM PDT · by Libloather · 3 replies
    Google ^ | 7/03/12 | ALEX VEIGA
    Big US banks submit "living wills" to regulatorsBy ALEX VEIGA, AP Business Writer – 1 hour ago Nine of the largest U.S. banks have submitted plans offering roadmaps for how the government could break up and sell off their assets if they are in danger of failing. The Federal Deposit Insurance Corp. released summaries of the "living wills" on Tuesday for Bank of America, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley and UBS. The plans were required under the 2010 financial overhaul, which gave regulators the power to seize and dismantle banks that threaten the...
  • Regulators surge in numbers while overseers shrink

    06/26/2012 4:32:47 PM PDT · by Oldeconomybuyer · 7 replies
    Washington Post ^ | June 24, 2012 | By Andrew Zajac
    As the U.S. government’s regulatory bureaucracy has ballooned, one agency has been left behind: the office that oversees the regulators. The number of people working in federal agencies with regulatory authority has doubled to about 292,000 under both Republican and Democratic administrations during the past 30 years. In the same period, the Office of Information and Regulatory Affairs, the White House bureau that reviews most major rules, has shrunk to 45 employees from 90, according to data compiled by researchers at George Washington University and Washington University in St. Louis. That means there are fewer people to carry out the...
  • Perry Ruling: Perry Denied (only Mitt & Paul on ballot)

    01/14/2012 4:40:56 PM PST · by Texas Fossil · 74 replies
    Red State Virginia ^ | January 14, 2012 | Kurt Feigel
    A Judge has ruled that the ballot will stand as is for the Virginia primary with Ron Paul and Mitt Romney as the only candidates in the presidential primary. In a 22 page ruling the Judge basically said that the Plaintiff’s: Perry,Gingrich,Santorum,Huntsman waited too long to file their request for an injunction. The Judge said: “In essense, they played the game, lost, and then complained that the rules were unfair,” Judge Gibney pulled no punches here: “They knew the rules in Virginia many months ago; the limitations on circulators affected them as soon as they began to circulate petitions. The...
  • The Fragmenting of the New Class Elites, or, Downward Mobility

    01/12/2012 5:44:35 PM PST · by grey_whiskers · 5 replies
    The Volokh Conspiracy ^ | Oct. 31, 2011 | Kenneth Anderson
    Glenn Reynolds is correct in his weekend post to point to the social theory of the New Class as key to understanding the convulsions in the middle and upper middle class; I’ve written about it myself here at VC and in a 1990s law journal book review essay. The angst is partly income, of course — but it’s also in considerable part, as Glenn notes, “characterized as much by self-importance as by higher income, and is far more eager to keep the proles in their place than, say, [Anne] Applebaum’s small-town dentist. It’s thus not surprising that as its influence...
  • America's Crossroads - Big Government or Almighty God

    01/07/2012 9:21:12 AM PST · by kindred · 10 replies
    The Ignorant ^ | January 6, 2012 | DJP I.F.
    Today many in the United States are crying out to President Obama and Government to do more and more to fix our social ills. The notion that Big Government has all of the answers and solutions we need in this very chaotic and unstable world is a fairy tale. It is one that is rooted in the mistaken belief that Fallen Man through and by the efforts of Big Government or Socialism can bring security and comfort to its citizens or constituents. There is no man-made ideology or system that can ever usher in a world Utopia of perfection and...
  • So powerful in 2010, the Tea Party this time around has missing in action: Is the Tea Party over?

    01/07/2012 9:30:30 AM PST · by 2ndDivisionVet · 50 replies · 2+ views
    WFTS-TV ^ | January 7, 2012 | Brendan McLaughlin
    TAMPA - Two years ago in the midterm elections, the Tea Party dominated the conversation -- and the results at the polls. But this time around, with the presidency at stake, the Tea Party is making very little noise. And that's making some people wonder if the Party's over. With Sarah Palin at the helm, and a legion of newly energized voters, the Tea Party wielded enormous clout in 2010, sending favored sons and daughters like Rand Paul of Kentucky and Nikki Haley of South Carolina to Congress. The defeats of Sharon Angle and Christine O'Donnell show that they didn't...
  • Regulators dig in at MF Global in money pursuit

    11/03/2011 9:00:26 PM PDT · by NormsRevenge · 17 replies
    Yahoo ^ | 11/3/11 | Sarah N. Lynch and Christopher Doering - Reuters
    WASHINGTON (Reuters) - U.S. regulators are launching a broad review into the business practices of failed futures brokerage MF Global Holdings Ltd as their hunt continues for over $600 million in missing customer money. Round-the-clock shifts for examiners have become the norm as they sort through the collapse of the firm headed by former New Jersey Governor Jon Corzine. MF Global filed for bankruptcy on Monday after risky bets on European debt scared away clients and investors. "We will look at every aspect of how the firm conducted business," Mary Schapiro, chairman of the U.S. Securities and Exchange Commission, told...
  • To All My Valued Employees

    10/28/2011 9:48:27 AM PDT · by Dick Bachert · 23 replies
    Unknown ^ | 10 28 2011 | Unknown
    To All My Valued Employees: There have been some rumblings around the office about the future of this company, and more specifically, your job. As you know, the economy has changed for the worse and presents many challenges. However, the good news is this: The economy doesn't pose a threat to your j What does threaten your job however, is the changing political landscape in this country. However, let me tell you some little tidbits of fact which might help you decide what is in your best interests. First, while it is easy to spew rhetoric that casts employers against...
  • A Pack of Nonsense: Will GOP 2012ers Get Serious?

    10/26/2011 9:50:44 PM PDT · by Steelfish · 39 replies
    NYPost ^ | October 26, 2011 | John Podhoretz
    A Pack of Nonsense Will GOP 2012ers Get Serious? October 26, 2011 John Podhoretz Memo to the Republican field: You’re running for president. Of the United States. Of America. Start acting like it. Stop proposing nonsense tax plans that won’t work. Stop making ridiculous attention-getting ads that might be minimally acceptable if you were running for county supervisor in Oklahoma. Stop saying you’re going to build a US-Mexico border fence you know perfectly well you’re not going to build. Give the GOP electorate and the American people some credit. This country is in terrible shape. They know it. You know...
  • U.S. Gov't Financial Regulators Earn Tax-Funded Salaries of $225,000-Plus

    10/26/2011 5:48:34 PM PDT · by Nachum · 9 replies · 1+ views ^ | 10/26/11 | Matt Cover
    ( – Federal employees at several financial regulatory agencies – including the new Consumer Financial Protection Bureau (CFPB) – are earning six-figure salaries and taking home bonuses up to $5,000, according to federal records obtained by Judicial Watch. At least 228 such regulators make $225,000 a year. In comparison, members of Congress make $174,000 a year; the Speaker of the House makes $223,500; and the majority and minority leaders pull in $193,400 a year. The records, obtained through the Freedom of Information Act (FOIA), show the number of employees at five of the six major financial regulatory agencies. In addition...
  • Occupy Wall Street: The scene on the ground (using McDonalds restrooms, hunt for Starbucks)

    10/05/2011 1:10:54 PM PDT · by Libloather · 57 replies
    CBS News ^ | 10/05/11 | Brian Montopoli
    Occupy Wall Street: The scene on the groundBy Brian Montopoli October 5, 2011 2:55 PM **SNIP** Meanwhile, groggy demonstrators found their way to the makeshift kitchen in the middle of the park, where food donated by sympathizers - much of it vegan - was being given out. After nearly three weeks of the "occupation" -- which began as a relatively small protest in response to a call from anti-consumerist magazine Adbusters -- a semi-functioning society has sprung up. Barred by police from using megaphones, protesters created a structure whereby whoever is speaking says his piece, and then the rest of...
  • Perry 'taken aback' by debate crowd reaction (on hypothetical case of young uninsured sick man)

    09/13/2011 1:53:07 PM PDT · by SeekAndFind · 95 replies · 8+ views
    MSNBC ^ | 09/13/2011 | Carrie Dann
    TAMPA, FL -- The morning after a sometimes-rocky appearance in front of a Tea Party debate audience, Gov. Rick Perry said he was "taken aback" by cheers from some crowd members on a hypothetical question of whether a young man who decides not to buy health insurance should be refused care if he develops a life-threatening illness and be left to die. "I was a bit taken aback by that myself," Perry told NBC News and the Miami Herald after appearing at a breakfast fundraiser in Tampa. "We're the party of life. We ought to be coming up with ways...
  • The Unsustainable Cost of Local Pensions

    09/01/2011 2:23:22 PM PDT · by rhema · 6 replies
    American Spectator ^ | 9/1/11 | RiShawn Biddle
    You wouldn't think that Erie County, Pa., epitomizes the least visible yet most insidious aspect of the nation's pension crisis. With just 280,566 residents, the county is better known for its once-grand status as being the hub between the Rust Belt metropolises of Pittsburgh, Cleveland, and Buffalo, for the sandy Presque Island State Park, and for being the site of one of the few battles won by the Americans in the War of 1812. But these days, Erie County taxpayers are learning plenty about the high cost of pension and retiree healthcare deals struck over the past five decades by...
  • APNewsBreak: Some unions to skip 2012 convention

    08/12/2011 11:00:49 AM PDT · by Justaham · 27 replies
    Associated Press ^ | 8-12-11 | SAM HANANEL
    More than a dozen trade unions are planning to sit out the 2012 Democratic convention because they are angry it will be held in a right-to-work state. The unions say they are disappointed that labor wasn't consulted before Democrats settled on North Carolina, a state that is considered one of the least union-friendly in the nation. They are also frustrated that job creation hasn't been a higher priority for Democratic lawmakers. The unions include the Laborers, Painters and Electrical Workers. The move would deprive the party of millions of dollars spent on sky boxes and other sponsorships that usually help...
  • Belgium, France, Italy, Spain Overrule European Regulator, To Impose Standalone Short-Selling Bans

    08/11/2011 4:34:00 PM PDT · by tcrlaf · 3 replies
    Zero Hedge ^ | 8-11-11 | Tyler Durden
    Stop the presses. Barely did we have time to report that European regulators failed to impose a coordinated short selling ban, that Bloomberg reports that the countries most impact by the market plunge are about to impose standalone short-selling bans. These are Belgium, Italy, Spain and France. In other words, it really is on and the 2008 Lehman PTSD flashbacks may now resume. Until we get a headline that says it isn't. The rescue of the Borsa Italian is now more schizophrenic than that of Greece. As a reminder, in the previous post the FT quoted Abraham Lioui, a professor...
  • CNN Anchor: Some Republicans Concerned Obama May Be Caving to Republicans on Debt Ceiling

    07/22/2011 4:23:40 PM PDT · by markomalley · 14 replies
    Newsbusters ^ | 7/22/11 | Matt Hadro
    CNN anchor Fredricka Whitfield apparently thinks some Republican players in the debt ceiling debate are concerned that President Obama is conceding too much. During the 12 p.m. EDT hour Friday, Whitfield alleged that many important players from both parties think Obama may be "caving" to Republicans. "You know, there are a lot of players who are very concerned – Democrats and Republicans who are concerned – and particularly Democrats are concerned that the president may be giving up too much in order to come about a deal," Whitfield remarked while stumbling over her words. [Video below the break.] Whitfield explained...
  • Breaking: GOP passes Cut, Cap, & Balance Act (Paul Ryan Declares Victory, Bachmann Dissents)

    07/19/2011 6:58:39 PM PDT · by SeekAndFind · 84 replies
    Hotair ^ | 07/19/2011 | Ed Morrisey
    John Boehner and the Republican caucus in the House passed the Cut, Cap, and Balance Act as promised on a near-party-line vote tonight, 234-190. The move puts the onus back on the White House to propose an alternative or assume responsibility for killing the debt-ceiling hike it contains: Defying a veto threat, the Republican-controlled House passed legislation Tuesday night to slice federal spending by $6 trillion and require a constitutional balanced budget amendment to be sent to the states in exchange for averting a threatened government default.The 234-190 vote marked the power of deeply conservative first-term Republicans, and stood in...
  • It Is As I Feared (McConnell rounding up Dem support to cede congressional authority to Obama)

    07/14/2011 7:33:30 PM PDT · by teg_76 · 66 replies
    Redstate ^ | 7/14/2011 | Erick Erickson
    And so as the sun is setting today, I learn from multiple Hill sources and now media reports that after McConnell sent out notice that he was signing on to Cut, Cap, and Balance, he began making door to door visits throughout the Senate lining up support for the Pontius Pilate Pass the Buck Act of 2011 — his plan to allow Barack Obama to raise the debt limit by $2 trillion. What’s more, McConnell has enlisted the help of Nancy Pelosi and Harry Reid to line up Democrat votes for the plan. Meanwhile, Speaker Boehner is saying the McConnell...
  • John Boehner: New debt option ‘may be worthy'

    07/14/2011 7:09:59 PM PDT · by Sub-Driver · 69 replies
    John Boehner: New debt option ‘may be worthy' By: David Rogers July 14, 2011 09:12 PM EDT With White House debt talks at a make-or-break stage, Speaker John Boehner signaled Thursday that he’s open to new options to avert a default next month, including a novel Senate plan that would surrender much of Congress’s power over Treasury’s borrowing to the president. It would be a remarkable shift for House Republicans — something like telling Pickett’s charge to go around Cemetery Ridge and not up it. And Boehner’s remarks may be a ploy as he keeps throwing out options to his...
  • This Is The Part Where The Ratings Agencies Start Destroying The Economy

    07/14/2011 7:20:49 PM PDT · by The Magical Mischief Tour · 36 replies
    Business Insider ^ | 07/14/2011 | Joe Weisenthal
    The hot news of the night comes from S&P, which has warned that there's a 50% chance that the US will lose its AAA rating over the next 90 days. Obviously the debt ceiling fight as a lot to do with this, but there's more! It seems S&P specifically wants to see $4 trillion in deficit reductions, and if this debt deal doesn't produce that, then the US might still lose its AAA. There's virtually no chance of a $4 trillion deficit reduction without severe cuts to spending or tax hikes, either of which could be very negative to the...
  • Could $12 Trillion Really Be Right? Absolutely! (The latest liberal lies)

    07/14/2011 3:47:50 PM PDT · by Beave Meister · 14 replies
    Complete Proof of the $12 Trillion Republican Debt Just below you can see the calculation and the documentation links for the Reagan-Bushes $12 Trillion ($12,049 Billion) national debt as of September 30, 2010. You can download this as an excel spreadsheet by clicking: Download as XLS. Their debt has 4 parts, but the bulk of it is calculated from 4 inputs (yellow and tan) that you can check with the color coded links to the treasury at the bottom. This will verify the $3.4 Trillion Reagan-Bush debt and the $6.1 Trillion G.W. Bush debt. Together that's $9.5 Trillion. Now some...
  • Reid, McConnell Craft ‘Hybrid’ Option (The McConnell Plan gets even worse)

    07/14/2011 2:40:54 PM PDT · by Qbert · 67 replies
    National Review ^ | July 14, 2011 | Andrew Stiles
    After introducing his controversial contingency plan, Senate minority leader Mitch McConnell (R., Ky.) is working with majority leader Harry Reid (D., Nev.) to craft a “hybrid” solution that would allow the debt ceiling to rise and include a modest amount of spending cuts: WASHINGTON — The Senate’s top two officials are working on what one aide called a “hybrid,” fail-safe solution to the debt ceiling debate that could garner enough political support to pass Congress. The plan, which is being hatched by Senate Majority Leader Harry Reid (D-Nev.) and Senate Minority Leader Mitch McConnell (R-Ky.), would ensure that over $1.5...
  • Bachmann's inexperience

    07/13/2011 4:57:47 PM PDT · by 2ndDivisionVet · 51 replies
    The Economist ^ | July 13, 2011 | W.W.
    A COUPLE weeks back, I argued that Michele Bachmann's lack of relevant experience makes it unlikely she'll win the Republican nomination. This elicited several thoughtful responses worth addressing, especially in light of Tim Pawlenty's recent digs at Ms Bachmann's lack of qualifications. Jonathan Chait suspects that "the Bachmann skeptics think she'll implode largely because she reminds them of Palin, when in fact she has a professional staff and is far more in control than Palin". Ms Bachmann does not in fact remind me much of Sarah Palin. I agree that her cannon is not as loose as Ms Palin's, and...
  • Layoff Notices Go Out To Connecticut State Workers; More To Come

    07/13/2011 2:39:41 PM PDT · by DeaconBenjamin · 3 replies
    The Hartford Courant ^ | 6:40 p.m. EDT, July 12, 2011 | By CHRISTOPHER KEATING
    On the day that Gov. Dannel P. Malloy announced that at least 200 private-sector jobs will be added at the new CIGNA insurance headquarters in Bloomfield, the governor said he is moving forward with laying off as many as 6,500 state employees to balance the state budget.Layoff notices have already gone out to hundreds of employees, but the vast majority will be going out in the coming days to all departments throughout the state. Even the Department of Correction and the state police — two areas that traditionally had been seen as protected from employee reductions — are not exempt....
  • McConnell: Debt ceiling will not get ‘a single Republican vote’

    07/13/2011 9:22:40 AM PDT · by yoe · 152 replies
    Washington Post ^ | July 1e, 2011 | Felicia Sonmez
    Senate Minority Leader Mitch McConnell (R-Ky.) said Wednesday that his party is united in opposing any effort to raise the debt ceiling, even as he maintained that the country will not default on its debt obligations. “I bet there won’t be a single Republican vote to raise the debt ceiling at the end of the day,” the Senate’s top Republican said in a radio interview Wednesday morning with conservative commentator Laura Ingraham. McConnell’s remarks come one day after the Kentucky Republican (sketched out a “back-up plan”) that would shift the political burden of raising the debt ceiling to President Obama...
  • Treasury: Tax Revenues for June $196.9B; Social Security Payments $50.7B; Veterans’ Programs $7.2B

    07/13/2011 1:02:41 PM PDT · by CNSNews · 7 replies
    CNSNews ^ | 7/13/11 | Terence P. Jeffrey
    ( - Despite President Barack Obama’s statement on CBS Evening News on Tuesday that he could not guarantee the government could pay out Social Security checks and veterans’ benefits after Aug. 3 if Congress does not agree to lift the limit on the national debt by then, official Treasury Department accounting documents for the month of June indicate that tax revenues for the month were almost three and a half times what the government needed to cover all Social Security benefits and veterans’ programs. The Daily Treasury Statement for June 30—which any American, including the president, can look up on...
  • U.S. Cannot Constitutionally Default on Its Debt, Says Constitutional Scholar

    07/13/2011 1:04:37 PM PDT · by CNSNews · 19 replies
    CNSNews ^ | 7/13/11 | Patrick Ryan
    ( - The United States cannot constitutionally default on its existing public debt even if the debt ceiling is not raised, constitutional scholar and attorney David Rivkin said during a Federalist Society news event. Instead, he said, the country should focus on the fiscal responsibility of new borrowing. “The United States, to put it more clearly, is one of the few countries in the world that is technically incapable of defaulting on its public debts, so we cannot have a situation like in Greece or Portugal or Ireland, ” Rivkin, co-chairman of the Center for Law and Counterterrorism, said during...
  • Obama: No, I can’t promise that Social Security checks will go out in August

    07/12/2011 4:10:26 PM PDT · by Hojczyk · 52 replies
    Hotair ^ | July12 ,2011 | Allahpundit
    If you’re looking for the case for and against the McConnell gambit, here’s Grover Norquist giving a thumbs up and Philip Klein giving a thumbs down. Norquist’s argument is straightforward: This debt-ceiling showdown has always been about politics for Obama, so let him choke on the politics of it. Force him to finally finally finally put his spending plan in writing after he and his party have ducked the issue for months. In fact, according to Roll Call, McConnell’s only question at yesterday’s debt-ceiling meeting was to ask how much the Biden plan would save in discretionary spending next year....
  • Surprise! $2.4 Trillion Debt Ceiling Increase Means No Deficit Reduction for FY 2012, 2013

    07/11/2011 8:35:51 PM PDT · by kristinn · 54 replies
    Monday, July 11, 2011 | Kristinn
    Media reports today are that a target of $2.4 trillion in deficit reductions is being negotiated to match an increase in the debt ceiling of $2.4 trillion to get the government funded into early 2013. The 18 months of borrowing from August 2011 through February 2013 works out to an annual rate of $1.6 trillion. That means the current deal allows for more deficit spending than FY 2011 ($1.5 trillion) and much more than the White House proposed earlier this year for FY 2012 ($1.1 trillion).The proposed deficit reductions are spread out over the next ten years and appears to...
  • John Boehner Statement On Practically Agreeing To A Debt Ceiling Hike

    07/09/2011 8:34:40 PM PDT · by Zakeet · 190 replies
    Zero Hedge ^ | July 9, 2011 | Tyler Durden
    Statement by Speaker Boehner on Debt Limit DiscussionsHouse Speaker John Boehner (R-OH) released the following statement today regarding ongoing debt limit discussions with the White House: "Despite good-faith efforts to find common ground, the White House will not pursue a bigger debt reduction agreement without tax hikes. I believe the best approach may be to focus on producing a smaller measure, based on the cuts identified in the Biden-led negotiations, that still meets our call for spending reforms and cuts greater than the amount of any debt limit increase." Zero Hedge translation: in two weeks we get news of no...
  • Regulators are causing bank failures. Returning banks to free market would strengthen economy

    07/06/2011 7:01:53 AM PDT · by SeekAndFind · 8 replies
    Washington Times ^ | 07/06/2011 | Richard Rahn
    Beware Greeks bearing debt - or any other country that has too much of it. Despite ever-increasing government regulation of banks, which often are required to hold government debt as reserves, the systemic risk of a failure in the global financial system is growing rather than diminishing. There are solutions that require less, rather than more, regulation. Some banks have been around for a couple of centuries or more, particularly in Switzerland, and yet they continue to thrive without government help. Only one Swiss bank out of 350 required state intervention in the financial crisis of the past few years....
  • Four signs the White House is worried about 2012

    06/29/2011 11:44:38 AM PDT · by mandaladon · 17 replies
    Yahoo News ^ | 29 Jun 2011 | Josh Kraushaar
    It's been a rough June for the White House. Instead of being able to run a campaign taking credit for economic improvement, President Obama will, according to the latest forecasts, be trying to win four more years amid a grim economy next year. The president's reelection team, once hoping to run on a "Morning in America" theme now doesn't have that luxury. No wonder, the president's advisers over the past month have been making moves that suggest they're awfully concerned about his prospects: 1. Searching for an economic message. Veteran Democratic pollster Stan Greenberg recently offered perceptive advice to the...
  • The Entitlement Crowd

    06/27/2011 5:11:46 PM PDT · by maddog55 · 4 replies
    You Tube ^ | Unknown | Unknown
    Perfect example of how the entitlemen crowd is infecting America. Notice how they huddle around Government looking for handouts.
  • Calif. regulators OK major greenhouse gas rules (state launching into a "historic adventure")

    12/16/2010 7:52:38 PM PST · by NormsRevenge · 34 replies
    AP on Yahoo ^ | 12/16/10 | Jason Dearan - ap
    SACRAMENTO, Calif. – California regulators on Thursday approved the first system in the nation to give polluting companies such as utilities and refineries financial incentives to emit fewer greenhouse gases. The Air Resources Board voted 9-1 to pass the key piece of California's 2006 climate law — called AB32 — with the hope that other states will follow the lead of the world's eighth largest economy. State officials also are discussing plans to link the new system with similar ones under way or being planned in Canada, Europe and Asia. California is launching into a "historic adventure," said Mary Nichols,...
  • Suffocated By Red Tape - 12 Ridiculous Regulations That Are Almost Too Bizarre To Believe

    11/27/2010 11:49:35 PM PST · by 2ndDivisionVet · 12 replies
    The Economic Collapse Blog ^ | November 12, 2010
    Even with all of the massive economic problems that the United States is facing, if the government would just get off our backs most of us would do okay. In America today, it is rapidly getting to the point where it is nearly impossible to start or to operate a small business. The federal government, the state governments and local governments are cramming thousands upon thousands of new ridiculous regulations down our throats each year. It would take a full team of lawyers just to even try to stay informed about all of these new regulations. Small business in the...
  • Regulators Close 6 Banks In Fla., Ga., Ill., Kan.

    WASHINGTON (AP) -- Regulators on Friday shut down a total of six banks in Florida, Georgia, Illinois and Kansas, lifting to 138 the number of U.S. banks that have fallen this year as soured loans have mounted and the economy has sputtered. The Federal Deposit Insurance Corp. took over the banks, the largest of which by far was Hillcrest Bank, based in Overland Park, Kan., with $1.6 billion in assets. A newly chartered bank subsidiary of Boston-based NBH Holdings Corp. was set up to take over Hillcrest's assets and deposits. The new subsidiary is called Hillcrest Bank N.A.
  • Science Kit Makers Battle Feds Over Safety Tests on Paper Clips

    10/02/2010 8:22:36 AM PDT · by LUV W · 69 replies ^ | October 1, 2010 | Judson Berger
    Federal regulators are hard at work making the world a safer place for kids -- starting with the threat posed by toxic paper clips. Never heard of a toxic paper clip? Neither have the manufacturers of science kits for classrooms across the country.