Free Republic

Fretting about bonus money is Wall Street's latest fixation, but investment bankers may soon have more pressing worries. September could bring a wave of layoffs as big banks aim to bounce back from the summer's credit market swoon. Mass firings now could help brokerage firms cut costs and show investors they're taking decisive action to compete better in a tough market. It also may have dawned on banking honchos that cutting staff will help preserve whatever's left of their dwindling bonus pools. "I think [bank execs] are thinking, if I cut right now maybe I save some of this bonus,"...

The New York investment bank will cut 1,200 positions in 23 locations as a result of the closing of BNC Mortgage. It will take an after-tax charge of $25 million and a goodwill write-down of $27 million, it said. Lehman said that poor market conditions in the mortgage space of late have "necessitated a substantial reduction in its resources and capacity in the subprime space," according to a release. The company said earlier this summer that it was combining its two non-prime residential mortgage businesses - Aurora Loan Services of Littleton, Colo., which specializes in Alt-A mortgages, and BNC Mortgage...

NEW YORK (CNNMoney.com) -- Investors who are counting on the Federal Reserve to cut interest rates sometime in the next month or so may end up badly disappointed. The credit crunch of the last month has convinced many on Wall Street that a cut in the central bank's key short-term interest rate is basically a lock. Stocks jumped Friday after the Fed announced a surprise cut in the little used discount rate that the central bank charges on loans made directly to banks - and again on Tuesday on bets the Fed will cut its other key rate, the fed...

H&R Block Inc.'s (HRB:H&R Block, Inc News, chart, profile, more Last: 19.79+0.59+3.07% 9:15am 08/22/2007 Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: HRB19.79, +0.59, +3.1%) Block Financial Corp. unit withdrew a net of $650 million from its working capital lines of credit to cover capital needs during the credit crunch. The Kansas City, Mo., company said it withdrew $200 million on Aug. 16 and an added $850 million on Aug. 20, using the money to pay off the previous loan. The company said in recent weeks "the credit market has become increasingly constrained and unstable," cutting...

WASHINGTON - Plummeting stock prices. Mortgage lenders filing for bankruptcy or shutting down. Layoffs at homebuilders and banks. Soaring foreclosures and loan defaults. Damage from the nation's slumping housing market is evident throughout the economy and permeates financial markets. Add real estate agents to the growing list of victims, although they know few tears will be shed for them. The National Association of Realtors expects membership rolls to decline this year for the first time in a decade. The group ended 2006 with nearly 1.4 million members — almost double the roughly 716,000 it had in 1997 — but expects...

It was time for the "Childfree Landslide News." Christine Fisher leaned forward and announced this in a soft voice that would sound surprisingly strong when it aired as part of her weekly (at least on Mars, she says, where weeks are 13 days) online show, the "Adult Space Child Free Podcast." She had just put in a day at the pharmaceutical company where she works and was home in her Newark apartment, shoes off, with her husband flopped on a sofa reading in the next room and her two cats roaming underfoot. She started the podcast, a medley of commentary,...

Cincinnati (FR) - The completely unknown and cordially disliked Free Republic poster "You Dirty Rats" announced today from his PC that he is not a candidate for the Republican nomination for President for 2008. "After carefully consideration of the chances of victory, I have decided against a run for 2008," he said. YDR noted that his negatives were much less than over half of the Representatives and Senators who have either announced a run, considered running or have issued statements that they aren't running. "Lots of people have seen Jimmy Cagney movies, and they might vote for me on that...

<p>FORMER PRESIDENT BILL CLINTON ON NOT CAPTURING BIN LADEN: 'At least I tried. That's the difference between me and some, including all the right wingers. They ridicule me for trying. They had eight months to try, they did not try. I tried. So I tried and failed'...</p>

The FBI has drafted sweeping legislation that would require Internet service providers to create wiretapping hubs for police surveillance and force makers of networking gear to build in backdoors for eavesdropping, CNET News.com has learned. FBI Agent Barry Smith distributed the proposal at a private meeting last Friday with industry representatives and indicated it would be introduced by Sen. Mike DeWine, an Ohio Republican, according to two sources familiar with the meeting. The draft bill would place the FBI's Net-surveillance push on solid legal footing. At the moment, it's ensnared in a legal challenge from universities and some technology companies...

Former President Clinton told one of the nation's largest Latino civil rights groups Saturday that the conservative wing of the Republican Party is using the immigration issue to divide Congress and the nation. "It is a way of creating a divided community and distracting people from the real challenges facing the country, whether it is in Iraq and Afghanistan, or homeland security, or how to build a clean energy future, or how to solve the healthcare crisis, or how to create new jobs for America," he said. Clinton made the remarks, some of his most extensive since the issue of...

WILLIAM Jefferson Blythe III was born on August 19, 1946, in Hope, Ark. After his mother remarried, he took the family surname, Clinton. Clinton was a good student. He enjoyed playing the saxophone and even considered a professional musical career. While in high school, a fortuitous meeting with President John Kennedy led him to choose a life of public service.

THESE ARE THE SENATORS WHO VOTED TO GIVE SOCIAL SECURITY BENEFITS TO ILLEGAL ALIENS REGARDLESS OF POLITICAL PARTY, THESE POLITICIANS NEED TO BE DEFEATED IN 2006, 2008 OR 2010, WHENEVER THEY NEXT COME UP FOR OFFICE. SEND THIS TO EVERYONE YOU KNOW; THE ENTIRE POPULATION OF THE UNITED STATES NEEDS TO KNOW THIS INFORMATION -- THAT IS, UNLESS THEY DO NOT MIND SHARING THEIR SOCIAL SECURITY WITH FOREIGN WORKERS WHO NEVER PAID INTO IT AND AMERICAN CITIZENS ARE BEING LEFT OUT. Grouped by Home State Alabama: Alaska: Stevens (R-AK), Yea Arizona: McCain (R-AZ), Yea Arkansas: Lincoln (D-AR), Yea Pryor (D-AR),...

I am curious why none of the media covers the most important aspect of the Malvo shootings. If you look at Newspapers on the dates when the shootings are underway you discover something I find quite interesting. The shootings begin to dominate the news the day before the debate on the Iraq war starts and they catch them the day after the declaration of war??? If you ask most people "do you remember the debate about starting the second Iraq war", they will all answer "yes of course". But if you followup with the question "name one point in the...

I recently received a reply to a post that stated: "This should be beneath a "freeper". Sad." So I asked.. what is it that makes a FReeper? My reply (and I will admit was tasteless) was also questioning. It stirred controversy and was removed? Why Moderators? Can you not tell me? Did it not meet with your "FReeper" mentality? According to all posted guidelines it should be listed but no, you chose to delete it. Yes.. I'm the first one IBTZ, I'm sure you'll nick me for speaking up..

In this war freedom should come first not after! In New Hampshire the Motto is Live free or Die! I don't need Bush spying on law abiding americans and taking our freedoms. Anyone who surrenders a square inch of freedom to the government in the name of saftey is a traitor and should be treated like one! Let the Bush Fashists all drop dead! Filthy Commys! LET FREEDOM RING!

Fellow Americans, there comes a time every mans life when we must give up ourselves before we are worthy to recieve. There comes a time in this war on terror when in order to protect liberty, we have to give it up in the mean time for safty. That's right folks. Today, Americans have forsaken the creator for the creation and have decided that they would value our "civil liberties" than protecting western civilization and rich white people from the tender mercies of radical Islamic terrorists. Selfish liberals insist and whine that Bush has no right to spy on Americans...

Yaa, you repukes are not doing so well, huh? Imagine, you repukes control the presidency, both houses of Congress, and appointed 7 of the 9 Supreme Court justices. Yet the Supreme Court thre out sodomy laws in all 50 states and recognized the right of government to seize land for any reason. And you couldn't pass your Social Security changes could you? Sorry, that was your last shot. Come November, we're going to start seeing more Democratic faces in the House. It's the end for you guys. You guys are celebrating when Bush's numbers go *up* to 45%. Then Faux...

Bush’s giant Right Wing Noise Machine (RWNM) loves to preach about the Bush economic miracle. In fact, the RWNM’s current thinking is Bush doesn’t spend enough time talking about his economic triumphs. If only he did, then everyone would fall in line and believe in the great Bush economic miracle. There is one problem with this argument: it’s a lie. Any way you look at the Bush economy, it comes up short. Today, I want to compare Bush’s job creation record with other economic recoveries. As usual, Bush comes up way short. The national Bureau of Economic Research has identified...

Why does anybody support George w Bush as President? He is clearly the worst President I have ever seen -- a complete disaster. And before you say anything, I have been a registered Republican for 25 years.

After reading all of the crap that people have been saying regarding Adult Private Social Clubs, I felt that I had to post an article and give my opinion. I am sick and tired of all the religous groups that are saying that there are drugs, prostitution, minors, non-consenting people, and just immoral people at these clubs! First of all, who do these people think they are to decide what is morally right or wrong for me? I believe that I have a good set of morals. I am a law abiding, tax paying citizen, I work full time and...