Tuesday, October 27, 2009

Then and Now in the Democratic Party

Great orators of yesterday's Democratic Party:

'One man with courage makes a majority.' - Andrew Jackson

'The only thing we have to fear is fear itself.' - Franklin D. Roosevelt

'The buck stops here.' - Harry S. Truman

'Ask not what your country can do for you; ask what you can do for your country.' - John F. Kennedy

And from today's Genius Democrats

'It depends what your definition of 'Sex' is?'' - Bill Clinton

'That Obama - I would like to cut his NUTS off.' - Jesse Jackson

'Those rumors are false .... I believe in the sanctity of marriage.' - John Edwards

'I invented the Internet' - Al Gore

'The next Person that tells me I'm not religious, I'm going to shove my rosary beads up their ASS.' - Joe Biden

' America is -- is no longer, uh, what it--it, uh, could be, uh, what it was once was... uh, and I say to myself, 'uh, I don't want that future, uh, uh for my children.' - Barack Obama

'I have campaigned in all 57 states. - Barack Obama (Quoted 2008)

'You don't need God anymore, you have us Democrats.'- Nancy Pelosi (Quoted 2006)

'Paying taxes is voluntary.' - Sen. Harry Reid

'Bill is the greatest husband and father I know. No one is more faithful, true, and honest than he.' - Hillary Clinton (Quoted 1998)


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Saturday, October 24, 2009

History's Biggest Rip Off...........

by Janet Crain
If anyone doubted that the Stock Market Crash in September 2008 which caused so many damaging repercussions, was manipulated, maybe this article will change their mind.

On Tuesday, March 11th, 2008, somebody — nobody knows who — made one of the craziest bets Wall Street has ever seen. The mystery figure spent $1.7 million on a series of options, gambling that shares in the venerable investment bank Bear Stearns would lose more than half their value in nine days or less. It was madness — "like buying 1.7 million lottery tickets," according to one financial analyst.

But what's even crazier is that the bet paid.

At the close of business that afternoon, Bear Stearns was trading at $62.97. At that point, whoever made the gamble owned the right to sell huge bundles of Bear stock, at $30 and $25, on or before March 20th. In order for the bet to pay, Bear would have to fall harder and faster than any Wall Street brokerage in history.

The very next day, March 12th, Bear went into free fall. By the end of the week, the firm had lost virtually all of its cash and was clinging to promises of state aid; by the weekend, it was being knocked to its knees by the Fed and the Treasury, and forced at the barrel of a shotgun to sell itself to JPMorgan Chase (which had been given $29 billion in public money to marry its hunchbacked new bride) at the humiliating price of … $2 a share. Whoever bought those options on March 11th woke up on the morning of March 17th having made 159 times his money, or roughly $270 million. This trader was either the luckiest guy in the world, the smartest son of a bitch ever or…

Or what? That this was a brazen case of insider manipulation was so obvious that even Sen. Chris Dodd, chairman of the pillow-soft-touch Senate Banking Committee, couldn't help but remark on it a few weeks later, when questioning Christopher Cox, the then-chief of the Securities and Exchange Commission. "I would hope that you're looking at this," Dodd said. "This kind of spike must have triggered some sort of bells and whistles at the SEC. This goes beyond rumors."

Cox nodded sternly and promised, yes, he would look into it. What actually happened is another matter. Although the SEC issued more than 50 subpoenas to Wall Street firms, it has yet to identify the mysterious trader who somehow seemed to know in advance that one of the five largest investment banks in America was going to completely tank in a matter of days. "I've seen the SEC send agents overseas in a simple insider-trading case to investigate profits of maybe $2,000," says Brent Baker, a former senior counsel for the commission. "But they did nothing to stop this."

The SEC's halfhearted oversight didn't go unnoticed by the market. Six months after Bear was eaten by predators, virtually the same scenario repeated itself in the case of Lehman Brothers — another top-five investment bank that in September 2008 was vaporized in an obvious case of market manipulation. From there, the financial crisis was on, and the global economy went into full-blown crater mode.

Like all the great merchants of the bubble economy, Bear and Lehman were leveraged to the hilt and vulnerable to collapse. Many of the methods that outsiders used to knock them over were mostly legal: Credit markers were pulled, rumors were spread through the media, and legitimate short-sellers pressured the stock price down. But when Bear and Lehman made their final leap off the cliff of history, both undeniably got a push — especially in the form of a flat-out counterfeiting scheme called naked short-selling.

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What really happened to Bear and Lehman is that an economic drought temporarily left the hyenas without any more middle-class victims — and so they started eating each other, using the exact same schemes they had been using for years to fleece the rest of the country. And in the forensic footprint left by those kills, we can see for the first time exactly how the scam worked — and how completely even the government regulators who are supposed to protect us have given up trying to stop it.

© Janet Crain

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Tuesday, October 13, 2009

Beware of Greeks bearing gifts............

Published: October 13, 2009

WASHINGTON — The Senate Finance Committee voted on Tuesday to approve legislation that would reshape the American health care system and provide subsidies to help millions of people buy insurance, as Senator Olympia J. Snowe, Republican of Maine, joined all 13 Democrats on the panel in support of the landmark bill.

Stephen Crowley/The New York Times

Senators Olympia J. Snowe, Orrin G. Hatch and Charles E. Grassley, during the Senate Finance Committee's hearing on health care reform on Tuesday.

The vote was 14 to 9, with all of the other Republicans opposed.

© Janet Crain

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Saturday, October 3, 2009

How Many Czars does it Take to Screw up a Government?

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Blame it on Rio!!! Yes, Indeedy!!!

by Janet Crain
Flash back to the first time Rio (in the form of a bodacious 16 year old Rio beauty) caused a little trouble for President Obama. Jake Tapper even made a video to "prove" that our eyes were deceiving us here. "The prez was just watching his step going down the stairs." Who you gonna believe, your lying eyes or these innocent husbands off the leash?

Saturday, October 3, 2009

The Second City didn't even rank second in the eyes of the International Olympic Committee. After investing nearly four years and $50 million, leaders of Chicago's bid to host the 2016 Olympics were stunned when the committee eliminated Chicago during the first round of voting. Even a dramatic, last-minute visit from President Obama failed to sway the committee Chicago's way.

So party on, Rio. We'll blame it on you.

No explanation was forth coming for this off guard moment (and no handy stairs in sight) ;-)

© Janet Crain

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Thursday, October 1, 2009

BEST SELLER: Going Rogue!!!!!!!!!!!!


Book Description

From her humble beginnings to her time in the spotlight as the first female Republican Vice Presidential candidate, Sarah Palin has led an extraordinary life. Going Rogue will recount her political experiences, her time as Mayor of Wasilla and as the first female governor of Alaska, as well as her rapid rise on the national stage during the 2008 campaign. Additionally, she’ll share insights into the personal challenges she’s faced including balancing her time as a working mother, recognizing the war’s impact with her son serving combat in Iraq, having a child with a disability and supporting her teenage daughter through an unplanned pregnancy.

Palin has received much attention through the media, but never before has her complete story been told in her own words. The memoir will be both a personal and political chronicle of her life.

© Janet Crain

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