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Keyword: bailouts

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  • Bailouts, Bail-ins, and the Greeks’ Trojan Horse

    06/29/2015 12:59:47 PM PDT · by Sean_Anthony · 3 replies
    Canada Free Press ^ | 06/29/15 | Dr. Ileana Johnson Paugh
    The Greek market may be shocked and defaults of various debt instruments may emerge. While Americans are eagerly signing petitions to ban the American flag on the heels of Louis Farrakhan’s Nation of Islam leader call to ban the Stars and Stripes “due to its links to racism” or are busily banning anything attached in any way to the Confederate flag and our history, the United States and the world are in serious financial trouble driven by out-of-control debt, particularly the most visible nation of all, Greece. Healthcare for illegals, gay marriage, and other non-stop crises occupy American overwhelmed minds,...
  • Scott Walker On The Dana Show 5-22-15

    05/22/2015 12:56:54 PM PDT · by Cincinatus' Wife · 1 replies
    FM News Talk ^ | May 22, 2015 | Dana
    29:00 [click on picture then click on red dot to listen]
  • Scott Walker's New Flip-Flop: He Now Supports Auto Bailouts?

    05/08/2015 12:59:07 PM PDT · by 2ndDivisionVet · 38 replies
    Reason's Hit & Run Blog ^ | May 8, 2015 | Nick Gillespie, editor in chief
    Republican presidential hopeful Gov. Scott Walker of Wisconsin has already flip-flopped when it comes to immigration. Once upon a time, he supported the Reaganite position which holds that immigration is a good thing and illegals should be given work permits at least. In 2006, Walker supported the McCain-Kennedy bill that would have granted a path to citizenship (nativists vilify that as amnesty) for illegals. But that was then, reported Politico, and the governor now supports curbs on legal immigration. Walker has a new apparent flip flop in the works, this one about the auto bailouts. Back in 2012, he was...
  • Barney Frank D-MA defends his role leading up to crisis (just another stump speech on meltdown)

    10/26/2008 4:52:25 AM PDT · by Libloather · 26 replies · 747+ views
    South Coast Today ^ | 10/26/08 | Steve Urbon
    Barney Frank defends his role leading up to crisisBy Steve Urbon Standard-Times senior correspondent October 26, 2008 6:00 AM NEW BEDFORD — It's essentially a stump speech by now, as U.S. Rep. Barney Frank explains yet again what was and what wasn't his role in the nation's financial meltdown, particularly in the housing market. Ten days ago at White's of Westport before the regional Chambers of Commerce, again at a Standard-Times editorial board meeting last Thursday, and countless other times, Rep. Frank ran down the list. These were the errors, misjudgments and schemes that amounted to a "Ponzi scheme" of...
  • Proven Failure of Obama Socialism

    10/23/2008 1:26:15 AM PDT · by EyesAndEars4U · 7 replies · 499+ views
    Timeline proving that the mortgage industry crisis is the Democratic socialist experiment. Another socialist experiment failed, this time a massive federal effort, imperiling the whole US banking industry. Facing this economic disaster, can an informed American people put their trust Obama’s socialist ideology to bring remedy? Will they bring in an acetylene torch to put out the fire? http://eyesandearsweekly.blogspot.com/2008/10/narrative-for-change-proven-failure-of.html
  • Repeal, Don't Reform the IMF!

    03/30/2015 4:38:19 PM PDT · by Kaslin · 4 replies
    Townhall.com ^ | March 30, 2015 | Ron Paul
    A responsible financial institution would not extend a new loan of between $17 and $40 billion to a borrower already struggling to pay back an existing multi-billion dollar loan. Yet that is just what the International Monetary Fund (IMF) did last month when it extended a new loan to the government of Ukraine. This new loan may not make much economic sense, but propping up the existing Ukrainian government serves the foreign policy agenda of the U.S. government. ?? Since the IMF receives most of its funding from the United States, it is hardly surprising that it would tailor...
  • Democratic (and Obama) Fund-Raiser Nemazee Indicted In $292 Million Fraud

    09/21/2009 3:33:07 PM PDT · by pissant · 86 replies · 4,048+ views
    NasDaq ^ | 9/21/09 | Chad Bray
    NEW YORK -(Dow Jones)- New York businessman and prominent Democratic fund- raiser Hassan Nemazee was indicted Monday for allegedly defrauding three banks out of $292 million in loans. Nemazee, 59 years old, was charged with aggravated identity theft and three counts of bank fraud in the indictment. Each bank fraud count carries a term of up to 30 years in prison. A lawyer for Nemazee didn't immediately respond to a request for comment. Nemazee, who was involved in various presidential campaigns and once served as finance chairman of the Democratic Senatorial Campaign Committee, was initially charged criminally in August related...
  • Super Hero of Cartoon Character

    02/14/2015 7:01:17 AM PST · by Kaslin · 12 replies
    Townhall.com ^ | February 14, 2015 | Charles Payne
    "I want to work with Congress to replace mindless austerity with smart investments that strengthen America," said President Obama in a recent speech at the Department of Homeland Security. In the making of a counter-cultural hero, in an era of failed responsibility and in an era of passing the buck, a new superstar has been found. In America, we have Elizabeth Warren, who is coming on like gangbuster as an alternative to Hillary Clinton, something I predicted a long time ago. In Europe, Yanis Varoufakis, the Greek finance minister whose un-tucked shirts worn with blue jeans have become a symbol...
  • Will There Be a 2016 Lame-Duck Disability Bailout?

    01/07/2015 9:46:41 AM PST · by Kaslin · 11 replies
    Townhall.com ^ | January 7, 2015 | Terry Jeffrey
    If you thought the lame-duck Congress that met in December -- in which House Speaker John Boehner cut a deal with President Barack Obama to fund almost all of Obama's programs through the rest of the current fiscal year -- was a bad deal for America, wait until the next lame-duck Congress convenes after the 2016 election. That could be the "bipartisan" moment for a bailout of the federal disability program -- and perhaps Social Security with it. The very dry, very long Annual Report of the Board of Trustees of Social Security, released in July, included two crucial predictions....
  • Obama's State of the Union Sales Tour

    01/05/2015 9:06:19 AM PST · by Kaslin · 7 replies
    Townhall.com ^ | January 5, 2015 | Conn Carroll
    resident Obama will travel to three cities this week where he will offer a preview of his January 20th State of the Union address.In Detroit on Wednesday, Obama will celebrate the end of the "auto rescue" which he claims saved one million auto industry jobs and is responsible for the resurgence of manufacturing in the United States. Obama will make no mention that his bailout of General Motors and Chrysler cost taxpayers $16 billion according to the latest Troubled Asset Relief Program Inspector General's report. On Thursday, Obama will travel to Phoenix where he will claim his administration's Home Affordable Modification Program is responsible...
  • Ukraine Needs Second Bailout, Currency Reserves Drop to Critical Level

    12/08/2014 10:47:42 AM PST · by Kaslin · 14 replies
    Townhall.com ^ | December 8, 2014 | Mike Shedlock
    On Wednesday I noted the arrival of carpetbaggers in Ukraine. (See Enter the Carpetbaggers: Ukraine's New Finance Minister a US Citizen, New Economy Minister from Lithuania). No carpetbagging mission is ever complete without at least one visit from the IMF. On Friday we learned that Ukraine will be blessed with a second visit from the IMF as its Foreign-Currency Reserves Dip Below $10 Billion. UkraineÂ’s central bank reported foreign-currency reserves at their lowest for almost a decade, raising pressure on the West to provide more financing to the country being squeezed by Russia. It also presents a dilemma for the...
  • What To Be Thankful For?

    11/27/2014 9:17:42 AM PST · by Kaslin · 19 replies
    Townhall.com ^ | November 27, 2014 | Judge Andrew Napolitano
    What if the government is designed to perpetuate itself? What if the real levers of governmental power are pulled by agents and diplomats and bureaucrats behind the scenes? What if they stay in power no matter who is elected president or which major political party controls Congress? What if the frequent public displays of adversity between the Republicans and the Democrats are just a facade and a charade? What if both major political parties agree on the transcendental issues of our day? What if they both believe that our rights are not natural to our humanity but instead are gifts...
  • Wait. So THAT’S what the bailouts were about?

    10/17/2014 8:10:42 AM PDT · by Lorianne · 11 replies
    Medium ^ | 07 October 2014 | Matt Stoller
    To understand the backstory, letÂ’s take a quick look at AIGÂ’s role in the housing bubble. Broadly speaking, AIG sells insurance, and one of its divisions (AIG Financial Products) sold a very specific type of insurance called a credit default swap. If you were a big bank and you owned a mortgage backed security (stuffed into a collateralized debt obligation, or CDO), you could buy a credit default swap against the possibility that the security would default. Then, because you owned this insurance, whatever that security might contain, be it good loans or the most toxic dreck imaginable, it was...
  • Paul Ryan on the Ex-Im Bank, bailouts: Tactics trump purity

    08/25/2014 5:50:41 AM PDT · by fredericbastiat1 · 9 replies
    TheBlaze Books ^ | 2014-08-25 | Benjamin Weingarten
    During the interview, Ryan addressed several issues on which conservatives have been critical of the Republican Party, from perpetuating crony capitalism to immigration. Perhaps most interesting was the congressman’s defense of votes he and fellow Republicans took in favor of TARP and the 2009 auto bailout, and his belief in the efficacy of a short-term reauthorization of the Export-Import Bank. When asked how his votes for TARP and the auto bailout comport with the populist, free market philosophy Rep. Ryan espouses in his new book, noting that he "did not enjoy" such votes, Ryan justified them on grounds of "defensive...
  • Everything You Need to Know about Greece…Plus Remarkably Bad Poll Numbers for Obama

    07/04/2014 10:37:37 AM PDT · by Kaslin · 18 replies
    Townhall.com ^ | July 4, 2014 | Daniel J. Mitchell
    We’re going to touch on two topics today. I realize that not that many readers care about Greek economic policy, but sometimes other nations can teach us very important lessons. For better or worse. And in the case of Greece, the lesson is that government intervention and bureaucracy is an enemy of entrepreneurship. Probably the most amazing – and weird – example is that the Greek government wanted stool samples from entrepreneurs seeking to set up an online company (and, just to be clear, I’m not talking about furniture). We now have another example, but it’s seems more tragic than...
  • An Obamacare Bailout? Insurers Already Got One!

    06/26/2014 7:49:05 PM PDT · by upbeat5 · 4 replies
    CNBC.com ^ | June 26, 2014 | Jake Novack
    For ordinary consumers, the answer varies. A lot of Americans who never had insurance before have indeed been able to find health coverage AND health care, (they're two different things, after all). But a lot of Americas have lost their previous plans, and now they're having trouble finding actual doctors to treat them even under their more expensive coverage. Whether the ACA has actually helped more citizens than it's hurt has turned into a partisan war of statistics. That war will be waged for years to come. While I believe the new law will ultimately hurt more people than it...
  • Delaware Senate OKs $10M bailout for casinos

    06/26/2014 10:58:36 AM PDT · by beaversmom · 20 replies
    The Washington Post ^ | June 25, 2014
    Senate lawmakers on Wednesday approved a $10 million financial bailout for Delaware’s three gambling casinos. The Senate voted 14-5 to pass legislation to help the casinos, which say they are struggling with increased competition from neighboring states and have to share too much of their gambling revenue with the state. [...] The change would take effect in July 2015, at an estimated cost to the state of about $10 million annually. To help the casinos until then, lawmakers cobbled together a similar amount of taxpayer money, mostly from unspent funds that are supposed to be used for economic development projects....
  • Bribery, ObamaCare Style

    05/22/2014 4:39:07 AM PDT · by IBD editorial writer · 7 replies
    Investor's Business Daily ^ | 05/21/2014 | IBD Staff
    Bailouts: Last Friday, the Obama administration quietly expanded an insurance industry bailout program that it publicly insisted never existed. In exchange, Obama wants a big political favor from insurers. Last week, the administration promised insurers it would use "other sources of funding" to protect their profits "in the unlikely event" that ObamaCare costs more than expected. The language was buried in a 435-page regulatory filing that only the industry would normally care about. But it caught the eye of the Washington Examiner's Philip Klein on Friday. The bailout story got legs this week when the Los Angeles Times followed suit,...
  • Too Big to Fail?

    05/01/2014 7:52:42 AM PDT · by Academiadotorg · 5 replies
    Accuracy in Academia ^ | April 30, 2014 | Spencer Irvine
    At the Heritage Foundation, professors Charles Calomiris and Mark Flannery provided insights on the ramifications of the U.S. government’s bank bailouts after the 2007 financial crisis. Calomiris is the Henry Kaufman Professor of Financial Institutions at Columbia University’s Graduate School of Business and Flannery is the BankAmerica Eminent Scholar in Finance at the University of Florida. The major issue with Dodd-Frank, said Calomiris, was how none of these problems were adequately fixed. Regarding the promise to liquidate and not bail banks out, Calomiris said, “Unfortunately, and I think now there’s a clear consensus across the board in terms of economists...
  • Obama Didn't Invent the "Christie," He Just Uses it A Lot

    01/15/2014 3:18:30 PM PST · by Kaslin · 17 replies
    Townhall.com ^ | January 15, 2014 | John Ransom
    Another politico is claiming that he got “Christied.” This time it’s Jersey City mayor, Steven Fulop, who said that after he declined to endorse the Republican governor of New Jersey, Chris Christie, meetings with the governor were cancelled and money for hurricane relief dried up. I guess in this Alice-in-TV-Land world we live in, this counts as news. This comes on the heels of a federal investigation into Christie’s use of federal hurricane relief funds, which Obama is sure were used for nefarious purposes; presumably that means purposes that didn’t include electing Democrats. While Barack Obama didn’t invent the “Christie”...
  • Insurance-Company Bailouts: It's written into Obamacare and needs to be repealed

    01/14/2014 6:46:11 AM PST · by SeekAndFind · 37 replies
    National Review ^ | 01/14/2014 | The Editors
    Among the many legitimate criticisms of the 2008–09 Wall Street bailout was that it created a situation in which profits are private but losses are public, being borne by taxpayers who extended liberal loans and outright subsidies to various firms in order to head off total paralysis in the credit markets. Critics right and left regarded the combination of private profits and public losses as inherently objectionable — but Barack Obama and congressional Democrats apparently saw in the Wall Street bailout a model for health-insurance reform. And, surprise: Buried deep within the Affordable Care Act are not one but two...
  • Blue Cross Blue Shield: If Republicans kill a bailout for insurers, it’ll lead to single-payer

    01/11/2014 4:37:41 PM PST · by SeekAndFind · 66 replies
    Hotair ^ | 01/11/2014 | AllahPundit
    They’re nervous. “We are becoming increasingly concerned about momentum that is quickly building among some leading conservatives for elimination of the risk corridor and reinsurance programs,” [Blue Cross Blue Shield Association CEO Scott] Serota wrote…“Their efforts, along with growing support for repealing the risk corridor and reinsurance programs, could combine to create a perfect storm to, at a minimum, dissuade the Administration from modifying risk corridor program rules to provide increased funding in light of the recent ‘transitional policy’ allowing insurers to offer consumers the option to renew their 2013 health plans for 2014,” Serota wrote.In attached talking points, seemingly...
  • Krauthammer: Insurance Companies Ruined By ObamaCare Will Need a Bailout Next Year

    12/22/2013 9:22:15 AM PST · by Sub-Driver · 33 replies
    Krauthammer: Insurance Companies Ruined By ObamaCare Will Need a Bailout Next Year By Noel Sheppard Created 12/22/2013 - 12:00pm Syndicated columnist Charles Krauthammer made a dire prediction Sunday. Appearing on Fox News Sunday, Krauthammer said that all the exemptions the President has given to ObamaCare will ruin insurance companies thereby necessitating the White House to ask for a huge government bailout of these companies next year that Republicans in Congress should prevent (video follows with transcript and commentary): CHRIS WALLACE, HOST: I want to go back to this point that George was talking about, because the President in his news...
  • Barack Hussein Obama Will Be Remembered As One of Our Greatest Presidents

    12/16/2013 2:37:16 AM PST · by 2ndDivisionVet · 88 replies
    Thy Black Man ^ | December 6, 2013 | Eric L. Wattree
    I am sick to death of these so-call Black “intellectuals” spending so much time criticizing President Obama – not because I don’t feel that EVERY politician’s feet should be held to the fire, I do, but because most of the nonsense they’re spewing is pure, unmitigated, ignorance. And what makes it worse is it’s either purposeful ignorance, or ignorance due to a lazy-mindedness that could be corrected with less than ten minutes of objective research. The irony is, people like Tavis Smiley, Cornel West, the entire GOP, and a lot of other uninformed haters are severely criticizing the President, while...
  • CLASSIC: Young 'Conservative' David Brooks -Arguing for Fed Subsidies -Crushed by Milton Friedman

    11/18/2013 5:14:25 AM PST · by Reaganite Republican · 13 replies
    Reaganite Republican ^ | 18 November 2013 | Reaganite Republican
    Should higher-education be subsidized? Friedman: 'You have a case in which you are imposing taxes on relatively low-income people to confer very large benefits on upper-income people...' Brooks: 'I think as soon as you start offering people economic incentives to get educated -or to use the education that they get for economic means- in other words when you put a price-tag on knowledge, I think that you're gonna be... Friedman: 'What are you talking about? You mean to say that the graduates of colleges and universities don't use their capacities in a direction influenced by the money they can earn...?...
  • If Obamacare fails, taxpayers get to bail out the insurers

    11/06/2013 6:17:05 PM PST · by 2ndDivisionVet · 28 replies
    The Washington Examiner ^ | October 26, 2013 | David Freddoso
    Obamacare's federal website is a mess, creating massive obstacles to enrollment in the law's health insurance exchange plans. Those taking President Obama's advice to apply by phone or by mail will fare little better, as their information must still be fed through the same glitchy computer system that is holding up everyone else. The website isn't the only problem, as things are only slightly better in the states that run their own websites. In Kentucky, less than 20 percent of the newly insured (or 4,832) have actually purchased plans – the rest will enter the taxpayer-funded Medicaid program. In Maryland,...
  • Now we find out what’s in it: Obamacare’s taxpayer bailout for health insurers

    10/26/2013 9:06:48 AM PDT · by The Old Hoosier · 12 replies
    Conservative Intel ^ | 10/26/13 | David Freddoso
    The short version? Obamacare contains a partial bailout for insurers with losses greater than 3 percent in any of the first three years...
  • Pension criticism=racism. Aaauugghh! Aaauugghh! Aaauugghh!

    08/19/2013 9:06:29 AM PDT · by Rusty0604 · 10 replies
    Cal Watchdog ^ | 08/14/2013 | Chris Reed
    when it comes to public employee benefits and the damage they wreak on local governments, scoundrels have another refuge: blaming racism for concerns about lavish, unaffordable benefits and broken governments. ”Public-sector workers are disproportionately black. In 2011, about 19 percent of black workers were employed by the government, compared with 14 percent of whites and 10 percent of Hispanics. The upshot is pretty clear: Reducing the value of public pensions and other benefits wouldn’t just hurt blacks disproportionately; it would do so at a time when other economic trends have already hurt them more than most. So the question isn’t...
  • Republicans have no clue how businesses work (Liberalism IS a Psychosis)

    08/09/2013 11:50:36 AM PDT · by pabianice · 5 replies
    salon | 8/9/13 | McElwee
    Link only.
  • Dems Favor Federal Bailout of Detroit, But Majority of Public Opposed [ CA will be bailed out too ]

    08/02/2013 9:06:24 PM PDT · by NoLibZone · 22 replies
    realclearpolitics.com ^ | 8-2-13 | By Tom Bevan
    A new national poll from Quinnipiac University shows that a majority Democrats believe the federal government should bail out Detroit, but an even larger majority of Americans oppose such a move. Fifty-one percent of Democrats support Washington providing federal assistance to Detroit, which last month became the largest American city ever to seek bankruptcy protection. Not surprisingly, there is a strong partisan divide on the question of a federal bailout for the Motor City. Seventy-three percent of Republicans oppose a bailout, while only 18 percent support the idea. Independents are nearly of the same mind as Republicans on the issue:...
  • ObamaCare Bailout? Detroit reportedly eyes health care law to cut costs

    07/29/2013 12:35:49 PM PDT · by Jim Robinson · 21 replies
    FOX News ^ | July 29, 2013
    Detroit could be looking to ObamaCare for a bailout as city leaders try to cut back on retiree health costs as they enter bankruptcy proceedings. The New York Times reported Monday that the city is proposing a plan aimed at reducing its $5.7 billion in outstanding retiree health costs. In short, they want to take those retirees too young to qualify for Medicare and send them into the ObamaCare insurance markets -- which are scheduled to launch next year. Doing so would ease the burden on the Detroit coffers by taking them off city coverage. But it would inevitably increase...
  • If You Weren’t Outraged by GM Bailout, You Will Be Now

    06/30/2013 12:05:28 PM PDT · by Red Statements · 19 replies
    RedStatements.co ^ | June 29th, 2013 | Steven H Ahle
    Before I tell you of all the new developments at government motors, I’d like to inform you of the true cost of the GM bailout. The “official” tally is ten billion, but the actual total cost to taxpayers is over 50 billion dollars. GM has a market cap (Net worth) of 28 billion. The paybacks we received from GM are the true, but kind. Read this for the true costs.
  • Making The Most Of Borrowed Time

    06/23/2013 12:43:52 PM PDT · by blam · 3 replies
    Bank Of International Settlements ^ | 6-23-2013 | Jaime Caruana
    Making The Most Of Borrowed Time (Central Banks Have Had Enough?)Jaime Caruana, General Manager of the BIS on the occasion of the Bank’s Annual General Meeting in Basel on 23 June 2013Good afternoon, ladies and gentlemen. Since the beginning of the financial crisis almost six years ago, central banks and fiscal authorities have supported the global economy with unprecedented measures. Policy rates have been kept near zero in the largest advanced economies. Central bank balance sheets have doubled from $10 trillion to more than $20 trillion. And fiscal authorities almost everywhere have been piling up debt, which has risen by...
  • Were Republican-owned GM dealerships targeted for closure in 2010? (Video)

    05/17/2013 6:04:41 PM PDT · by Perdogg · 45 replies
    Two members of Congress are asking if the Treasury Department disproportionately targeted more Republican or conservative owned auto dealerships during the government-lead restructuring of General Motors in 2009. Breitbart.com reported today that Mike Kelly (R-PA) and Jim Renacci (R-OH) released a letter asking Treasury Secretary Jack Lew to release documents regarding the process and methodology that determined which GM dealerships were closed.
  • Fisker Failure was Easy to See Coming

    04/24/2013 7:50:14 AM PDT · by jazusamo · 12 replies
    NLPC ^ | April 24, 2013 | Mark Modica
    While hindsight may always be 20/20, foresight should be pretty clear in many instances as well. The Fisker failure was one of these times. Many saw the folly in spending hundreds of millions of taxpayer dollars to support the green debacle. In fact, the Associated Press has reported that even the Obama Administration had warning of the Fisker loan risks back in April of 2010 when the Energy Department began emailing their concerns. Congress will be holding hearings starting today to address the scandalous waste of taxpayer money on Fisker. Reuters states one of the goals of the hearing, "'The...
  • Don't Worry About Cyprus, It Already Happened Here

    03/19/2013 1:35:58 PM PDT · by Kaslin · 10 replies
    Townhall.com ^ | March 19, 2013 | Bill Tatro
    I can just imagine Jay Leno taking to the streets in order to ask the average American citizen, “What do you think about Cyprus?” More than likely, the answer would be, “I really prefer oak or maple for my flooring, I never really thought about cypress.”  Jay would reply with, “No, the country Cyprus.  The IMF, EU, and ECB, the “troika,” just put a tax on bank accounts.  Well, no.  Actually, they just stole a portion and froze the rest of the money in spite of the increased guarantees.”  The average American would then respond, “There’s a country named Cyprus? ...
  • Everything you need to know about banking, bailouts, and Cyprus

    03/18/2013 4:34:29 PM PDT · by Ernest_at_the_Beach · 15 replies
    blogs.marketwatch.com/cody ^ | March 18, 2013, 2:04 PM | Commentary By Cody Willard
    Good morning and welcome back to the land of anarchy where contracts and guarantees don’t mean anything anymore. Over the weekend, as I’m sure you’ve already heard, Cyprus and the EU and the IMF (and the U.S. Treasury which is part of the official decision-making body at the IMF) all decided that it was in society’s best interests to confiscate the money in people’s checking and savings accounts. Not all of it, at least not yet.But as there’s a ton of confusion and misdirection about what this latest round of theft of private capital and descent into anarchy really is,...
  • Big Hollywood Bailout: Taxpayers Spent Nearly $40 Million To Subsidize Disney's 'Oz'

    03/14/2013 8:22:00 AM PDT · by MichCapCon · 21 replies
    Michigan Capitol Confidential ^ | 3/11/2013 | Tom Gantert
    In 2010, Michigan had an annual unemployment rate of 12.5 percent. Then-Gov. Jennifer Granholm told lawmakers to expect a $1.58 billion deficit in the following year and to expect a $263 per pupil cut for K-12 education. Yet, the state played a part in allowing one of the most lucrative companies in the world to post a record $4.8 billion in profits by handing it nearly $40 million in film tax credits. That was the year Disney made the movie, "Oz: The Great and Powerful," and received $39.7 million of the $75.2 million the state of Michigan handed out to...
  • Too Big to Nail: The Biggest Scandals...

    02/04/2013 3:17:30 PM PST · by a5478 · 4 replies
    Breitbart ^ | 02/02/2013 | Virgil
    In other words, inside the Beltway, if the dollar numbers associated with shenanigans are big enough, they don’t call it a “crime,” they simply call it “policy.” That is, past a certain point, the money amounts are so huge that the whole system is implicated in the corruption. And nobody in DC wants to see that, lest the taxpayers out in flyover country start to wonder if there’s something systemically wrong with Washington. And so, through the power of spin, and with the complicity of the MSM, massively awful actions--the bank bailouts being the most spectacular example--are declared to be...
  • WATCH: SPECIAL FORCES CHIEF: ‘EVERYTHING DONE IN EVERY MARXIST INSURGE.BEING DONE IN AMERICA TODAY’

    02/04/2013 8:51:04 AM PST · by cricket · 39 replies
    Pat Dollard.com ^ | February 4, 2013 | H/T Sammy Madigan/Lt. Col. Jerry Boykin
    Many speak; but not nearly enough listening. More must 'wake up' and damn the bonds of political correctness - restore 'critical mind' - so that America can recover it's original-intent purpose. Lt.Gen. Jerry Boykin; 'Special Forces'; Green Beret. . .taught at Hampden-Sydney; now Exec.Vice President/Family Rersearch Council - 'owns' his credentials; and so, has both credibility and authority. A video link to share. Lt.Gen.Boykin: marxist insurgency link Further hand/in/hand verification: http://www.wnd.com/2013/02/why
  • FORMER GOLDMAN BANKER: I Miss The Great Recession Already

    01/24/2013 10:54:52 AM PST · by blam · 5 replies
    TBI ^ | 1-24-2013 | Michael, Bankers Anonymous
    FORMER GOLDMAN BANKER: I Miss The Great Recession Already Michael, Bankers AnonymousJanuary 24, 2013 I’m just going to come out and say it, ok? I miss the Great Recession already. I miss it for two reasons: first as an investor and second as a human. The Investment Side of the Great Recession As an investor, the Great Recession represented the good times, now past.[1] Recessions – or at least their financial unfolding via changes in asset prices – cause not only wealth destruction, but also wealth creation. For investors[2] in particular, a recession is often necessary in order to deploy...
  • Daniel Hannan | Occupy Wall Street Debate | Oxford Union

    01/13/2013 7:47:08 PM PST · by Lorianne · 6 replies
    You Tube ^ | 11 January 2013 | Daniel Hannan
    video 10:42
  • AIG, after thanking America, might sue it

    01/12/2013 7:46:30 AM PST · by Lorianne · 14 replies
    CNN Money ^ | 08 January 2013 | Chris Isidore
    Even as it runs ads thanking America for a $182 billion bailout, insurer AIG might join a lawsuit claiming that shareholders were unfairly hurt by the terms of the federal rescue that kept it out of bankruptcy four years ago.
  • Jack Lew Bagged $950,000 Bonus After Citigroup Bailout

    01/10/2013 5:30:38 PM PST · by george76 · 15 replies
    Breitbart ^ | 9 Jan 2013 | Wynton Hall
    In the wake of the financial meltdown, President Barack Obama derided Wall Street bonuses as “obscene,” calling them examples of “fat cats who are getting awarded for their failure.” But now, Mr. Obama has announced that he will nominate as his next Treasury secretary Jack Lew, a man who in 2009 bagged a $950,000 bonus after his bank, Citigroup, received billions in a taxpayer-funded bailout. Mr. Lew is the former chief operating officer of Citigroup’s Alternative Investments unit—a group that bet billions against homeowners paying their mortgages.
  • After Call From Senator Inouye’s Office, Small Hawaii Bank Got U.S. Aid

    07/01/2009 2:07:35 AM PDT · by JohnKSmith · 2 replies · 327+ views
    Hawaii Free Press ^ | 7-1-09 | Paul Kiel & Binyamin Appelbaum
    Inouye reported ownership of Central Pacific shares worth $350,000 to $700,000, some held by his wife, at the end of 2007 [5]. The shares represented at least two-thirds of Inouye's total reported assets. Inouye has requested a delay in filing his annual financial disclosure for 2008, which was due this spring, and he declined to provide the current value of his investment. Since the end of 2007, the bank's stock has lost 79 percent of its value. Central Pacific was founded in 1954 by a group of World War II veterans including Inouye who were emerging leaders in Hawaii's Japanese...
  • Hawaii Dem Linked to Questionable Bank Bailout

    07/01/2009 6:04:27 PM PDT · by Clintonfatigued · 10 replies · 445+ views
    CBS News ^ | July 1, 2009
    A struggling Hawaii bank received a $135 million federal bailout last fall two weeks after staff from the office of Sen. Daniel K. Inouye, a big investor in the bank, called federal regulators about the aid application, according to a report in ProPublica Tuesday. Bank regulators had designated Central Pacific Financial as a marginal candidate to receive federal assistance, according to documents cited in the report. But soon after the phone call from Inouye's office, the Treasury directed millions of dollars to bolster the bank's capital reserves. Inouye, D-Hawaii, owns shares in the bank that totaled between $350,000 and $700,000...
  • The Coming Derivatives Panic That Will Destroy Global Financial Markets

    12/05/2012 9:26:29 AM PST · by blam · 19 replies
    TMO ^ | 12-5-2012 | John Rolls - Michael Snyder
    The Coming Derivatives Panic That Will Destroy Global Financial Markets Stock-Markets / Financial CrashDec 05, 2012 - 04:24 AM By: John Rolls John Rolls Submits, Michael Snyder writes: When financial markets in the United States crash, so does the U.S. economy. Just remember what happened back in 2008. The financial markets crashed, the credit markets froze up, and suddenly the economy went into cardiac arrest. Well, there are very few things that could cause the financial markets to crash harder or farther than a derivatives panic. Sadly, most Americans don't even understand what derivatives are. Unlike stocks and bonds, a...
  • Opel cuts thousands of jobs across Germany

    11/01/2012 12:49:42 PM PDT · by Olog-hai · 5 replies
    TheLocal.de ^ | 1 Nov 12 15:37 CET | (The Local/DAPD/bk)
    Thousands of German workers at Opel cars will lose their jobs in another round of cuts announced this week by the car maker’s owner General Motors. As many as 2,300 people have already been let go. … The company lost half a billion dollars in Europe alone in the third quarter, when it produced just 196,000 cars—down from 270,000 in the same quarter last year. …
  • Our Greek Tragedy

    10/17/2012 6:55:42 PM PDT · by Tolerance Sucks Rocks · 6 replies
    Personal Liberty Digest ^ | October 17, 2012 | John Myers
    Regardless of who the President is after this close election, the equity markets and the U.S. economy are in trouble. Debt has spread throughout the Western world. The fallout is political dissonance, growing economic hardship and, in some places, mob violence.Ground zero for the spreading fear and panic is Greece, which was once the worldÂ’s greatest civilization and the birthplace of democracy, poetry and philosophy.There is violent evidence of the contradiction from what the ancients taught and what is unraveling in Greece. It would all just be another boring story at the end of the news day, except there is...
  • Bailing Out Obamacare: Sarah Palin Was Right

    09/29/2012 5:55:40 PM PDT · by Evil Slayer · 4 replies
    Powerline ^ | September 29, 2012 | Steven Hayward
    I missed this piece from Steven Rattner (who was a key figure in the Obama auto bailout) when it appeared in the NY Times a couple weeks ago. Tacitly acknowledging that costs are going to soar out of sight, Rattner opens with this frank admission: “We need death panels.” Jonah Goldberg wonders: When can Sarah Palin expect her letter of apology?” Rattner goes on to back away from “death panels,” but instead uses the R-word: rationing. Well, maybe not death panels, exactly, but unless we start allocating health care resources more prudently — rationing, by its proper name — the...