This Blog is created to stress the importance of Peace as an environmental directive. “I never give them hell. I just tell the truth and they think it’s hell.” – Harry Truman
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Information Regarding the Gramm-Leach-Bliley Act of 1999 (click at title, thank you.)- AKA Financial Modernization Act
Gramm is McCain's Financial Advisor
October 2, 2008 Byron Dorgan’s Crystal Ball (click here - Video) Many believe the 1999 Financial Modernization Act as one of the causes of the current financial crisis In 1999 Congress passed the Financial Modernization Act, which allowed banks, insurance companies and investment houses to merge. Many experts point to it as one of the causes of our current financial crisis. At the time, Byron Dorgan was one of the few senators to speak out strongly against the legislation. Looking back, his predictions in 1999 seem prophetic and, looking forward, his views raise more questions about the $700 billion bailout plan.
N-deal with India unbelievable mistake: Dorgan (click here) ..."This agreement is an unbelievable mistake. We are saying to India it is okay if you produce additional nuclear weapons if we cannot see them. I think that is almost unbelievable," said Senator Dorgan moving the amendment on the bill that he said allows India to build on its nuclear arsenal behind a curtain....
ND senators split on bailout (click here) ...Dorgan opposed deregulation of the banking industry nine years ago . He says he does not believe the current bill will do enough to regulate financial markets, especially hedge funds and derivatives trading....
The issue is leadership in the USA. The current administration and the past Republican majority that facilitated the beginnings of messes like 'the bailout' and 'the Korean missile' issue are all due to an Executive Branch making mischief instead of engaging peace. At every turn, the Bush White House has BEEN A PROBLEM throughout the globe. The entire mess with economics with allies, abandonment of allies in Afghanistan and instigating hostilities globally by making statments like 'Axis of Evil.' That is a group of words one might expect from Steven King but not the president of the USA.
We need new leadership in a very big way and we need it now !! India should be ashamed of itself for escalating tensions with China. And if China is 'steamed' about something, you know darn well North Korea will be, too.
China and India leading Asian missile buildup (click here) ...Kimball, the arms control analyst, said the availability of cruise missiles with greater range and destructive power was a growing concern after being belatedly added to the agenda of nonproliferation initiatives....
Koreas set to hold military talks (click here) By John Sudworth BBC News, Seoul North and South Korea are set to hold military talks, renewing official lines of contact between the two governments that have been frozen for months....
Mike ! I found a whole directory of them. This is getting easier.
Now I am no horse trader, but, according to this chart we have not only 'been there' before with Subprime lending, but, we actually faired through the mess okay.
It seems all to obvious to me, that the way Paulson structured the "Mark the Market" restrictions on investment firms is what CREATED this mess, not the market itself.
This is indictable. Paulson deliberately manipulated the circumstances that disaffected these firms to enhance Goldman-Sachs share of the market.
NO BAILOUT. Mike's got the right idea (click here), let the wealthy bail themselves out and they might even have to do it from indictment hearings. The 'rich' might have to get 'REAL' jobs and live like the rest of us. Gee, what a shame. The Democrats have to take over otherwise this will all be covered up.
The International Community might want to file a class action suit against those responsible. The problem is how do other country's get the records without the assistance of the USA? They don't. They will be in court forever.
This is from the Federal Reserve
For Immediate Release September 15, 2005 Data Show Continued Improvement in Credit Quality, Slight Increase in Credit 1 Commitment Volume (click here) The quality of syndicated bank credits showed continued improvement this year, according to the Shared National Credit (SNC)2 review released today by federal bank and thrift regulators. The review, which encompassed credits of at least $20 million that are shared by three or more financial institutions, also found that most industries exhibit much improved credit quality from peak problem levels experienced only a few years ago. The results--reported by the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision--are based on analyses prepared in the second quarter of 2005 and reflect business and economic conditions at that time. Total classified credit commitments (those rated as either substandard, doubtful or loss) fell by $21.5 billion, or 29 percent, from the previous year, compared with a net decrease of $78.2 billion, or 51 percent, the year before. Commitments rated special mention decreased by $7.0 billion, or 21 percent, in contrast to 2004 when they fell by $22.4 billion, or 41 percent. None of these figures includes the effects of hedging or other techniques that organizations often employ to mitigate risk. The ratio of classified credit commitments to total commitments fell to 3.2 percent, the lowest level since 1999. Total adversely rated credits 3 (classified and special mention combined) also fell considerably, to 4.8 percent of total commitments (see Chart 1 below)....
The world is facing a global crisis and Thomas L. Friedman is scared. Maybe Republicans are nothing but scared most of the time. They shoot from their hip internationally and back up every word diplomatically with 'ALL OPTIONS ARE ON THE TABLE.' So, it would appear Republicans are 'genetically scared.' Inbred ! You know, 'Second Amendment' mess, too.
Scared of losing their money all the time, but, not scared enough to regulate. No, no, nothing like that kind of scared. No, Republicans are scared they won't have the opportunity to EXPLOIT every possible 'idea' for 'cashing in' on others naivety. As a matter of fact, they are so scared of not having the USA Treasury to bail them out of their fiscal irresponsibility all the time, they'll do ANYTHING, including invading countries illegally and irrespectively of the national security of the USA, while telling 'tales' of Weapons of Mass Destruction to scare the USA citizens silly.
Let's see, the last time it was George H. W. Bush and Silverado and dear sonny, Neil that launched a bailout while sapping the FDIC. So, the question is when will this chronic misuse of the USA infrastructure STOP?
Well, Thomas you are a lucky man today, because, I AM NOT ! I believe I haven't been scared most of my life, and especially when Bush was scared of NOT invading Iraq. I knew the USA was "W"rong and I stated over and over again, right there on the OLD NY Times Message Boards.
The Global Crisis I face has dearly little to do with Paulson's fiscal needs. It is about Human Induced Global Warming and we are running out of time before Climate Change causes conditions on Earth to be unbearable or worse.
If Thomas Friedman along with all the spineless have their way, they'll sink the chance of the USA to rebuild its infrastructure. There is NO GUARANTEE to the 'rush to debt' that Paulson advocates. He has no balance sheets, no proof and NO ANALYSIS of what this fiscal consequence of DE-REGULATION has done.
Not only did Paulson forget about producing the facts, not long ago Alan Greenspan testified that all the 'factors' that played into this idiocy (my words, not his) weren't fully understood. So for Paulson to state he has the best approach to any circumstance that PRIVATIZED INVESTMENT BANKING has caused, is flatly "W"rong.
Hm. Imagine that, spending $700 billion blindly for the sake of a 'lark into fiscal rescue' when no one even knows what exactly they are rescuing.
No, I'm not scared. There is little that does scare me. I know my world. I know the facts as they present themselvse and I know where I stand. Its a darn shame Friedman and those like him, don't !
The insistence by the current Executive Branch to enforce false value of financial holdings were a very real part of the collapse of the investment banking infrastructure.
Legislators of the House must regroup and go forward with reforms, but, without the blanket $700 billion free for all funding.
It would be helpful to the national security of the USA, if the House would give special consideration to funding the agricultural needs of the nation, by bolstering the funds available through 'steadfast' agricultural lenders such as Farmers' Home Administration (click here). There should be a blanket understanding that our farmers and their well being are paramount to this nation without a second thought to their fiscal needs.
By supporting our farm sector unconditionally, it expresses "Nation First" and "We are taking our country back." Of PRIMARY focus to our nation's agriculture; is the need to be the empowerment of Family Farms and NOT the corporate mess that exists today in majority.
Thank you !
...The $US700 billion bailout bill rejected by Congress earlier in the week contained sections giving SEC the power to suspend mark-to-market accounting for any company, and launch a study on how the accounting changes have affected financial institutions. Mark-to-market valuing, where financial institutions are forced to put a fair value on their assets or liabilities each quarter based on what price those assets could attract in the current marketplace, was introduced in the US last November....
PGG Wrightson can’t settle Silver Fern deal (click here) by Sarah McDonald Wednesday October 1 2008 - 09:31am PGG Wrightson has delayed its $220 million purchase of meat company Silver Fern Farms, citing problems with funding arrangements due to market turmoil. It is still wanting to settle the deal but PGG Wrightson chairman Craig Norgate says the delay will probably be "weeks rather than days". Mr Norgate says a number of banks that had committed to participate in funding the transaction had since been unable to finalise their credit approvals in time for today's part-settlement. "This is entirely a function of the extreme financial market conditions and their impact on banks' lending capacity in the current environment,” he said....
The movement to return the agricultural sector to Family Farm units will become overwhelming within a few short years. California's demand to treat animals humanely is only the beginning to the demise of the factory farm and feedlot operations that are shameful to the landscape of the USA.
I encourage everyone that loves their country to support this initiative by California and make it grow across the country and return farm operations to ENERGY EFFICIENT and humane Family Farms.
New Poll Shows California Proposition 2 on Treatment of Farm Animals Leading 72% to 10% Finance Reports Also Reveal Strong In-State Support (click here) By Jennifer FearingChief Economist Humane Society of the United States As the quarterly campaign finance period closed today, the YES! on Prop 2 campaign reports a tidal wave of voter and donor support from Californians backing the effort to stop the cruel and inhumane treatment of animals on industrial factory farms. In contrast, the donations raised by the No on Prop 2 campaign have come from a handful of corporate factory farming interests—most from out of state and many which are embroiled in a national price-fixing scandal.The results of a new statewide poll by KSFN-Fresno/SurveyUSA shows overwhelming support from voters, with Prop 2 commanding a 62-point lead: 72-10 (18 undecided). Prop 2 is a November ballot measure that seeks to prohibit the most abusive factory farming practices in California and ensure modest animal welfare standards for farm animals by allowing them simply to turn around and stretch their limbs. Thousands of Californians who care about preventing animal cruelty and promoting food safety have thrown their support behind Prop 2. The opponents of this modest reform are just a handful of miserly corporate interests that put their profits ahead of consumers and animals. But real people understand that all animals deserve humane treatment, including animals raised for food. As of September 30, the YES! on Prop 2 campaign has raised approximately $6.6 million. The donations include funds from The Humane Society of the United States and nine other animal protection organizations, as well as nearly 17,000 gifts from individual donors, with an average gift of $134. Of the individuals who have donated, 63 percent are Californians. On the other side, the No campaign has reported 172 donations from factory farming corporations, totaling $6.9 million for an average gift of $40,285. Only 36 of these donations, or 21 percent, came from California companies. The contributions come from some of the most disreputable factory farms throughout the nation that have a sordid history of abusing animals, damaging the environment, and misleading and gouging consumers. Prop 2 is supported by The Humane Society of the United States, the California Veterinary Medical Association, the Center for Food Safety, the ASPCA, the Consumer Federation of America, the Center for Science in the Public Interest, the United Farm Workers, Farm Sanctuary, the Cesar Chavez Foundation, California Council of Churches IMPACT, Republican and Democratic elected officials, hundreds of California veterinarians, family farmers, religious leaders, and many others. Jennifer Fearing is chief economist for the Humane Society of the United States. She received a master's degree in public policy from Harvard University’s Kennedy School of Government and a bachelor's degree in economics and political science from the University of California at Davis.
Edible herbs and flowers at one of Jacobs Farm's four California locations (Photo courtesy Jacobs Farm)
SANTA CRUZ — In a victory for the state's organic farmers, a Santa Cruz County jury has awarded a North Coast grower $1 million in damages after deciding a pesticide company violated the farmer's rights when its chemicals drifted with the fog onto his organic crops. Jacobs Farms, which raises culinary herbs on about 120 acres in Wilder Ranch State Park, was preparing to leave the property if the chemical drift continued. Instead, the operation will stay, knowing area farmers will need to be much more careful or risk paying big fines, and organic farmers statewide now have a stronger case to seek redress should pesticides, even those applied properly, end up on their plants....
29 September 2008 The world's largest tidal power farm could be built in Scotland and Northern Ireland, following successful testing of the technology.ScottishPower Renewables has announced plans to install up to 60 turbines in three locations, to generate 60 megawatts (MW) – enough to power 40,000 homes.The Lanstrom tidal devices rest on the sea floor on three legs and have blades that are 20 metres long.They turn at least ten metres below the surface and are "predictable" because of the regularity of tides.According to ScottishPower Renewables director Keith Anderson, the Pentland Firth – one of the three sites – has enough tidal power to meet one third of Scotland's energy needs....
Scottish Power unveils plans to serve 40,000 homes with tidal energy (click here) Proposed £100m project will be the largest of its type in the world Tom Young, BusinessGreen, 29 Sep 2008 Scottish Power today confirmed that it is looking at three coastal sites for the development of the world's largest tidal power project, valued at £100m. The company said the three sites – two in Scotland and one in Northern Ireland – will each install up to 20 Lànstrøm tidal turbines that have been specially developed by Hammerfest Strøm AS, a company jointly owned by ScottishPower Renewables, StatoilHydro and Hammerfest Energi. The rapid technological advancement of tidal power has enabled the company to accelerate its marine renewables plans, according to Keith Anderson, director of Scottish Power Renewables....
Study eases fear about wind farm threat to birds (click here) Tue Sep 30, 2008 9:01pm EDT LONDON (Reuters) - Wind turbines do not drive birds from surrounding areas, British researchers said on Wednesday, in findings which could make it easier to build more wind farms. Conservation groups have raised fears that large birds could get caught in the turbines and that the structures could disturb other species. But scientists found only one of the 23 species studied, the pheasant, was affected during their survey of two wind farms in eastern England. The findings published in the Journal of Applied Ecology could help government and business efforts to boost the number of wind farms as a way to increase production of renewable energy. "This is the first evidence suggesting that the present and future location of large numbers of wind turbines on European farmland is unlikely to have detrimental effects on farmland birds," Mark Whittingham, whose team from Newcastle University carried out the research, said in a statement....
Pakistan cleans up 'pro-Taliban' spy agency (click here) October 1, 2008 ISLAMABAD: Pakistan has replaced the head of its powerful Inter-Services Intelligence (ISI) in an apparent effort to clean up the military spy agency amid western claims that it secretly backs the Taliban. The move came as the United Nations said fighting between the Pakistani military and pro-Taliban insurgents forced 20,000 people to flee from Pakistan to war-torn Afghanistan, and as the Afghan President, Hamid Karzai, turned to the king of Saudi Arabia to help broker peace talks with the Taliban. Pakistan's military released a statement yesterday saying Lieutenant General Ahmed Shujaa Pasha had been appointed director-general of the ISI, replacing Nadeem Taj, a loyalist of the former president Pervez Musharraf, who took up the post last October. General Pasha is now director of military operations and is considered a key aide to the army chief, Ashfaq Kayani. Pakistan's intelligence agency has been at the centre of concerns among Western allies that it is either turning a blind eye to militants in Pakistan's troubled tribal areas bordering Afghanistan, or even actively sponsoring the rebels....
UN: 20,000 flee from Pakistan into Afghanistan (click here) 1 day ago KABUL, Afghanistan (AP) — The United Nations says 20,000 Pakistani refugees have fled to Afghanistan to avoid fighting between militants and Pakistan's military. The U.N.'s refugee agency says nearly 4,000 Pakistani families have fled Pakistan's Bajur tribal agency into Afghanistan's Kunar province. Pakistan's military launched an offensive in Bajur, the most northerly of Pakistan's wild tribal regions, several of which have fallen largely under the control of militants opposed to the Afghan and Pakistani governments. Tens of thousands of civilians have fled into other parts of Pakistan as a result of the 2-month-old offensive. The agency says it believes the majority of those who have crossed into Afghanistan will return home once the fighting stops.
NATO Troops
Karzai pleas for Saudi peace role (click here) Mr Karzai says that he is 'working for peace' Afghan President Hamid Karzai has said that he has made repeated efforts over the last two years to engage Saudi Arabia in peace talks with the Taleban. The president said there had not yet been any direct negotiations, only requests for help. He said that Afghan officials had travelled to Saudi Arabia and to Pakistan to kick-start the process. The comments came during the president's traditional message to the Afghan people during the Eid holiday....
U.S. deaths in Iraq (click here) Tuesday, September 30, 2008 As of Monday, at least 4,175 members of the U.S. military have died in the Iraq war since it began in March 2003, according to an Associated Press count. At least 3,379 military personnel died as a result of hostile action, according to the military's numbers.
The latest deaths reported by the military: A soldier was killed Monday by small arms fire in northern Baghdad. The latest identifications reported by the military: Army Capt. Michael J. Medders, 25, Elyria; died Wednesday in Jisr Naft of wounds suffered in a suicide bombing; assigned to the 2nd Squadron, 3rd Armored Cavalry Regiment, Fort Hood, Texas. Army Staff Sgt. Ronald Phillips Jr., 33, Conway, S.C.; died Thursday in Bahbahani after his vehicle struck an explosive; assigned to the 3rd Battalion, 7th Infantry Regiment, 4th Brigade Combat Team, 3rd Infantry Division, Fort Stewart, Ga. Army Pfc. Jamel A. Bryant, 22, Belleville, Ill.; died Saturday in Baghdad of injuries from a vehicle accident in Wahida; assigned to the 40th Engineer Battalion, 2nd Brigade Combat Team, 1st Armored Division, Baumholder, Germany. SOURCE: Associated Press
The Army is sending about 10,000 Fort Lewis troops to Iraq in a period from this winter into the summer of 2009.
Originally published September 30, 2008 at 9:35 AM
Page modified September 30, 2008 at 9:35 AM FORT LEWIS, Wash. — The Army is sending about 10,000 Fort Lewis troops to Iraq in a period from this winter into the summer of 2009. A spokeswoman says they are the I (First) Corps headquarters unit, and the 3rd and 5th Stryker brigades. Maj. Kathleen Turner says this is the first combat deployment for the I Corps headquarter unit since the Korean War. She says it will take over in Baghdad as the command and control for multinational units in Iraq. This will be the first deployment for the 5th Stryker brigade and the third for the 3rd Stryker brigade. The Fort Lewis troops are part of 26,000 the Pentagon is deploying to maintain 14 combat brigades in Iraq.
Fort Riley brigade tabbed for Iraq (click here) (Published September 30, 2008) FORT RILEY, Kan. — A Fort Riley brigade that returned in April from 15 months in Iraq has been notified that it is scheduled to go back in 2009. The 4th Brigade of the 1st Infantry Division was part of the surge of troops sent to Baghdad in 2007. It was told Tuesday that it would go back to Iraq in the spring or summer of 2009. The 3,500 soldiers will have been back in the U.S. for at least a year....
(September 30, 2008)—Seven brigade combat teams, one corps headquarters, a Marine expeditionary force headquarters and Fort Hood’s 1st Cavalry Division Headquarters will deploy to Iraq beginning this winter and continuing into next summer, the Department of Defense announced Tuesday. The deployment announced Tuesday involves a total of about 26,000 troops, the Pentagon said. “The deployed headquarters units will provide command and control, intelligence, surveillance and reconnaissance capabilities in support of security operations in the country,” the Pentagon said. Six of the brigade combat teams will replace units now in Iraq and one security force brigade “will assure freedom of movement and continuity of operations in the country” including base defense and route security, the Pentagon said....
The 82nd Airborne Division’s 1st and 4th Brigade Combat Teams will deploy to Iraq in the next year, the Department of Defense announced today. The Fort Bragg brigades are two of seven Army combat brigades scheduled to deploy to Iraq any time this winter through next summer. Lt. Col. Clarence Counts, spokesman for the 82nd Airborne Division, said he was not sure what months the brigades would deploy. A corps headquarters from Fort Lewis, Wash., a division headquarters from Fort Hood, Texas, and a Marine expeditionary force headquarters from Camp Lejeune also are scheduled to deploy. The Department of Defense said that total, about 26,000 people, would be sent to Iraq. The deployments will be replacement forces that will maintain the current troop level in Iraq, the DOD said.
Bailout failure shows Bush's weakness Justin Webb 29 Sep 08, 07:22 PM GMT With the Republican revolt in the House of Representatives, President Bush is now confirmed as the weakest Commander-in-Chief in modern history. He puts Jimmy Carter in the shade. Just as well America faces no serious problems... A big opportunity for leadership now from Mr McCain or Mr Obama (or both?) - do they have what it takes? And as a backdrop for Sarah Palin's prime-time outing on Thursday, it could not be worse. I hear she has been accusing Joe Biden of being old. Eh?
I rarely befriend or agree with Republicans. They have abused power in the Legislature and the Executive Branch and have ignored some of the most sensitive issues in our day, but, I found allies with this 'go round' and they don't include John McCain.
The Paulson Bailout for this Wall Street cronies was just bad government. The Conservatives may not have liked the Pelosi speech, but, they wouldn't have risked their country for the sake of some untoward words. The Conservatives ditched the House Bill yesterday because they found an excuse. A convenient excuse and they went with it.
Old Palin morphs into something new (click here) DAN FAGANCOMMENT Published: September 27th, 2008 11:18 PMLast Modified: September 27th, 2008 11:46 PM What happened to our governor? I don't recognize her anymore. I still haven't made up my mind if I like the new Sarah Palin or the old one better. Remember the old Palin. Remember how well she got along with Democrats. Democrats marched in unison with her as she went to war with the oil industry, raised taxes through the stratosphere and gave away free cash. Ultra-liberal Les Gara was her new best friend and loudest spokesman. The old Palin liked the D's so much she let Sen. Hollis French write her tax code. The old Palin's only real enemies were a handful of conservative Republicans who were not afraid of a fight. But look at the new Palin. Her old friends and allies in the Democratic party no longer like her. And now Republicans adore her. The new Palin is sounding like a conservative. This must come as a real shock to her old friends, Democrats Gara, French, and Kerttula.... ...The old Palin was clearly more transparent, open and honest. True, the old Palin withheld damaging e-mails just because she wanted to. But you have to credit the old Palin for promising to go along with the independent investigator. The old Palin, for the most part, was an open book. But the new Palin slammed that open door shut.... continued...
This is the year 2008, when the USA has troops deployed, Climate Change is in full swing and there is inflation and unemployment. Even Dan Quayle, the guy that couldn't spell potato, was more qualified than Palin.
Former Secretary of State Madeleine Albright says chance of Palin presidency scares her (click here) by Mark Naymik Madeleine Albright, who became the first female U.S. Secretary of State and highest ranking woman in government in 1997, is frightened by the possibility that Alaska Gov. Sarah Palin, Republican John McCain's running mate, could assume the presidency. Asked today in an interview with Plain Dealer editors and reporters if she is scared by the prospect of Palin being a heartbeat away, Albright, who has endorsed Democrat Barack Obama, responded without hesitating, "Yes. Yes." "Having served two presidents, I think the job of the president is the most difficult job in the world," said Albright, who advised President Carter on national security and foreign policy and later President Clinton as secretary of state. "What you need in a vice president - and I've felt this for a long time because I've watched [vice president Walter] Mondale and [vice president] Al Gore - is that you need a partner. The job is huge and needs somebody not only for the heartbeat part but in the day-to-day governance. "Gore went a step further of being almost like a prime minister ... taking away the underbrush of issues to do with how two countries relate to each other. So you need somebody that actually knows what they are doing. I see that with the Obama-Joe Biden relationship. I certainly don't see it in the McCain-Palin relationship."... Tuesday September 30, 2008, 12:15 PM
Remember how important scientific investigation is when it comes to protecting species exposed to Climate Change that face extinction. Evidently when it comes to understanding SCIENCE, John McCain believes investigation into species 'specifics' leading to protection and preservation is hideous.
Journal of Wildlife Management Article: pp. 1592–1600 AbstractPDF (672K) CONSERVATION RISKS OF MALE-SELECTIVE HARVEST FOR MAMMALS WITH LOW REPRODUCTIVE POTENTIAL (click here) PHILIP D. McLOUGHLINA, 1, MITCHELL K. TAYLORB, and FRANÇOIS MESSIERC A. Department of Biology, University of Saskatchewan, 112 Science Place, Saskatoon, SK S7N 5E2, Canada, B. Department of the Environment, Government of Nunavut, P.O. Box 209, Igloolik, NU X0A 0L0, Canada, C. Department of Biology, University of Saskatchewan, 112 Science Place, Saskatoon, SK S7N 5E2, Canada We used harvested, stochastic population models for grizzly bears (Ursus arctos) and polar bears (U. maritimus) to illustrate the propensity for male-biased harvesting to reduce mean male age and numbers of sexually mature males for species with relatively low reproductive potential....
IN DEPTH Climate Change Wildlife photography Will we see The Last Polar Bear in our lifetime? (click here) ...Essayist Charles Wohlworth describes in detail the drowned polar bears spotted by the U.S. Minerals Management service and the unfortunate walrus calves, far from ice or shore, swimming after the small boats launched from a U.S. National Science Foundation icebreaker....
The weather at Glacier Bay National Park (Crystal Wind Chime) is:
Roger Toombs of Cape Vincent remarked to his wife that "the water's funny out there today," as he looked out on Lake Ontario Monday morning. Moments later he saw a cloud nearly touching the water, and then a waterspout appeared. It lasted several minutes as Mr. Toombs snapped a number of digital photos, which he passed along to NewsWatch50. The waterspout was between the shoreline of Mud Bay and Fox Island. Toombs estimates it was a couple of miles out on the water.
Waterspout reported over Lake Buchanan By Hudson Lockett Wednesday, September 10, 2008, 08:55 AM The Llano County sheriff’s office and the LCRA reported a rare waterspout over Lake Buchanan on Tuesday night, said a meteorologist at the National Weather Service. Essentially small-scale tornadoes that form over water, waterspouts are common along the southeast U.S. coast, according to the National Weather Service’s tornado FAQ. “This type of phenomenon for Lake Buchanan, that’s a rare event,” said Robert Blaha, meteorologist and forecaster for the service. No damage had been reported, he said, and the waterspout, which was seen at about 6:30 p.m. on Tuesday, had dissipated that evening. The waterspout is unrelated to Hurricane Ike, which is still hundreds of miles away...
A waterspout was photographed off the South Devon coast as a storm swept inland at the same time, bringing high winds and a downpour. Alison Heather, 21, a student, photographed the twister from her home in Livermead, Torquay. She said: “It was moving across the bay and you could actually see it was drawing the sea spray up a couple of hundred feet into the air.” Dave Perry, from Torquay, who photographed the waterspout off Torre Abbey Sands, said: “First of all we thought it was a cloud but then we saw it was actually sucking up the water. I haven’t seen anything like it before in Torbay.” Pleasure-boat skippers reported seeing the waterspout two miles (3km) east of Berry Head, near Brixham. One said: “It was a long, thin formation coming out of the sky and when it was near the surface water was sucked up to meet it....
Above 5 years of stock prices. Note the price took off after Paulson took office as Treasury Secretary. Below, yesterday. Paulson needs to resign !
Goldman Sachs (NYSE: GS) opened at $134.49. So far today, the stock has hit a low of $124.37 and a high of $134.62. GS is now trading at $128.39, down $9.60 (-6.96%). Over the last 52 weeks the stock has ranged from a low of $86.31 to a high of $250.70. Shares of GS are falling this morning as investors seem to be disappointed with the $700 billion financial bailout plan currently up for vote in Congress. Judging from this morning's action, it seems like investors are worried the bailout may not stabilize credit markets. Technical indicators for the stock are neutral and S&P gives GS a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on GS the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 150 range. [ABR-Seven Summits Strategic Investments NewsBite]
Market Summary At 3:07 AM ET: Treasuries in London are mixed across the curve today as the 2-year note is down 8/32 to 100 14/32, yielding 1.75%, up from 1.61% at the previous close. The benchmark 10-year bond is down 16/32 to 102 31/32, yielding 3.63%, up from 3.57% while the 3-month T-bill's current discount rate is little changed at 0.13%. The discount rate on the 6-month T-bill is up 0.24 percentage points to 1.44%.
3.63% - US Treasury Bonds. Gee. What a way to make money.
Abramoff Sentenced To Four More Years (click here) By John Bresnahan Sep 4, 2008 ...Justice Deptartment officials, pointing to Abramoff''s extensive cooperation with federal investigators, had urged U.S. District Judge Ellen Huvelle to sentence Abramoff to an additional 39 months behind bars stemming for his role in the Washington corruption case that rocked Congress and the Bush administration. Abramoff's attorneys were seeking even less timefor the one-time K Street star, but Huvelle rejected those requests....
Former Abramoff lobbyist, Hill aide indicted (click here) By ERICA WERNER – Sep 8, 2008 WASHINGTON (AP) — A one-time congressional aide who went on to work with jailed lobbyist Jack Abramoff was arrested Monday and accused of conspiring to corrupt government officials including his former boss, current Rep. John Doolittle, R-Calif. Kevin Ring, 37, pleaded not guilty to a 10-count federal indictment that accuses him of conspiring with Abramoff to win assistance from congressional and executive-branch officials by giving them things of value, and helping them skirt requirements to report those gifts. He appeared in federal court unshaven, his hair rumpled, wearing shorts and a T-shirt and occasionally fighting back tears as he exchanged glances with his wife. Ring's lawyer said that despite cooperating voluntarily for two years, Ring was not allowed to surrender himself....
...David Safavian, the Bush administration's former top procurement official, (click here)was sentenced to 18 months in prison in October 2006. Safavian, the only scandal defendant to take his case to court, was found guilty of covering up his dealings with Abramoff. In July, a federal appeals court overturned his conviction. The Justice Department plans to retry him....
Vice President Dick Cheney, shown at a White House dinner last week, was sued to ensure no presidential records are destroyed or handled in a way that would make them unavailable. (CHIP SOMODEVILLA/GETTY IMAGES) WASHINGTON - A federal judge yesterday ordered Dick Cheney to preserve a wide range of the records from his time as vice president. The decision by US District Judge Colleen Kollar-Kotelly is a setback for the Bush administration in its effort to promote a narrow definition of materials that must be safeguarded under by the Presidential Records Act....
Anti-Palin rally calls for Colberg removal (click here) TROOPERGATE: More than 1,000 protesters gather in downtown Anchorage park. By KYLE HOPKINS khopkins@adn.com Published: September 28th, 2008 12:03 AMLast Modified: September 28th, 2008 02:46 AM A protest slamming Gov. Sarah Palin's handling of the state's so-called Troopergate investigation -- and calling for the attorney general to lose his job -- drew more than 1,000 people to the Delaney Park Strip in Anchorage on Saturday....
Canada has national health care. Just thought I'd remind everyone of that. They respect their citizens. As a rule they don't exploit them. Ah, yep. Ain't life amazin', huh? Who ever thought a bunch of southerners would be the heroes of the day. So, cool.
Federal surplus reaches almost $10B (click here) Paul Vieira , Canwest News Service Published: Monday, September 29, 2008 OTTAWA - The federal government posted a surplus for the last fiscal year of just less than $10 billion, the Department of Finance reported Monday, slightly below what had been anticipated. According to the 2007-08 annual financial report, the Canadian government recorded a $9.6-billion surplus for the 12-month period ended March 31, just off the $10.2-billion target anticipated in the last budget. Ottawa missed the forecast as revenue was $2.1 billion lower than forecast, whereas expenses were $1.7 billion less than anticipated. Also, public-debt charges were $200 million more than expected....
Paulson missed the mark by miles. Time for a change in administration. Bring back O'Neill ! Come on now, the market is still at 10,000.
...No state in the country cast as many votes against the measure as Texas, President Bush’s home, where the measure was defeated 22-9. (Not a single vote was cast for the measure in Arizona and Alaska, the homes of John McCain and Sarah Palin. Illinois, Barack Obama’s home, tied 9-9 and the lone Republican congressman from Joe Biden’s home of Delaware voted for the plan.)...
Everyone leave on recess for elections back home? Go with pride. This mess doesn't belong to the Democrats. Go campaign and bring home a majority !
NATIONAL AFFAIRS Failure To Cooperate (click here) Report: Top Bush aides ducked queries on prosecutor firings By Michael Isikoff NEWSWEEK Published Sep 29, 2008
Karl Rove was one of a number of former White House officials who declined to cooperate with the Justice Department inspector general's probe of the U.S. attorney firings.
...According to a blistering new report by the Justice Department inspector general released Monday, Rove was one of a number of former White House officials (including ex-White House counsel and Supreme Court nominee Harriet Miers) who declined to cooperate with its investigation into the U.S. attorney firings-even though the current White House counsel's office encouraged them to do so....
