Politics
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- TheBlueOne0
Here we go again...
"Nov. 22 (Bloomberg) -- The U.S. government may step in to rescue Citigroup Inc. after a crisis in confidence erased half the bank’s stock-market value in three days, according to investors and analysts.
Citigroup’s $2 trillion of assets dwarfs companies such as American International Group Inc. that got support from the U.S. government this year. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke may favor a rescue to avoid the chaotic aftermath of Lehman Brothers Holdings Inc.’s bankruptcy in September.
“Citi is in the category of ‘too big to fail,’” said Michael Holland, chairman and founder of Holland & Co. in New York, which oversees $4 billion. “There is a commitment from this administration and the next to do what it takes to save Citi."
- This 'too big to fail' notion is insanely irresponsible. These companies need to improve their practices or simply declaretommyo
- bankruptcy and allow someone new to buy it and revitalize it.tommyo
- Citibank is too big for one nation to save. Meanwhile expect Switzerland to follow Icelandinto bankruptcyTheBlueOne
- Ahhh, Rick Rubin, see my post below. Citigroup ignored the risk.********
- zaq0
Guess who?
- ukit0
Interview with the guy who designed the Obama logo
- GeorgesII0
aaahhh the truth, I hate the truth
- ********0
Surprise! CAIR officials slapped with subpoenas
http://worldnetdaily.com/index.p…WASHINGTON – When the Council on American-Islamic Relations held its 14th Annual Banquet at the Marriott Crystal Gateway Hotel tonight, it was planning to raise funds and honor some of its supporters, but instead several top officials of the Muslim lobby group were served with subpoenas for various civil and criminal offenses.
- ********0
Insiders reveal Citigroup ignored risk, made bigger bets on bad mortgages. (Robert Rubin did it! Now Obama's adviser)
http://www.nytimes.com/2008/11/2…
The bank’s downfall was years in the making and involved many in its hierarchy, particularly Mr. Prince and Robert E. Rubin, an influential director and senior adviser.
- http://en.wikipedia.… Rubin, alongside Austan Goolsbee and Paul Volcker, is one of Obama's economic advisers********
- http://www.msnbc.msn…********
- http://en.wikipedia.… Rubin, alongside Austan Goolsbee and Paul Volcker, is one of Obama's economic advisers
- ukit0
http://bloomberg.com/apps/news?p…
The U.S. government is prepared to lend more than $7.4 trillion on behalf of American taxpayers, or half the value of everything produced in the nation last year, to rescue the financial system since the credit markets seized up 15 months ago.
The unprecedented pledge of funds includes $2.8 trillion already tapped by financial institutions in the biggest response to an economic emergency since the New Deal of the 1930s, according to data compiled by Bloomberg. The commitment dwarfs the only plan approved by lawmakers, the Treasury Department’s $700 billion Troubled Asset Relief Program. Federal Reserve lending last week was 1,900 times the weekly average for the three years before the crisis.
- ********0
Obama's economic positions make U.S. trade partners nervous
http://www.bloomberg.com/apps/ne…Mexican President Felipe Calderon warned Barack Obama against trying to renegotiate the North American Free Trade Agreement, saying restricting commerce would only encourage illegal Mexican emigration to the U.S.
- Oh, so now you suddenly care what other countries think? Funny..you posted the exact opposite during the election...TheBlueOne
- ..you were all "Why should I care if other countries like Obama. Fuck them."...and now this?TheBlueOne
- I truly don't care, but this has a correlation with immigration, so in this case, I do care.********
- ukit0
- at last, a political cartoon worthy of Paul Conrad..mikotondria3
- What's with the vulcan ears?TheBlueOne
- For some reason, these cartoonists like to paint Obama with big ears, LOL!********
- Big ears, yeah, but pointy?TheBlueOne
- Dunno, I think they make him look like an elf or Calibos from Clash of the Titans.********
- ********0
Criminal bailout of friends expands to trillions! No oversight.
http://bloomberg.com/apps/news?p…
- BattleAxe0
the annual budget for the country was 2.8 trill , for the entire country, every branch of gov! how the fuk is 7.7 till even possible
- BattleAxe0
Troubled Asset Relief Program
or Troubled Relief Asset Program
- Pokute0
yawn x 2
- designbot0
Compare this:
https://www.anu.edu.au/polsci/ma…
Especially these key points:
Nevertheless, in most advanced countries, the following will be pretty generally applicable.
1. Abolition of property in land and application of all rents of land to public purposes.
2. A heavy progressive or graduated income tax.
3. Abolition of all rights of inheritance.
4. Confiscation of the property of all emigrants and rebels.
5. Centralization of credit in the banks of the state, by means of a national bank with state capital and an exclusive monopoly.
6. Centralization of the means of communication and transport in the hands of the state.
7. Extension of factories and instruments of production owned by the state; the bringing into cultivation of waste lands, and the improvement of the soil generally in accordance with a common plan.
8. Equal obligation of all to work. Establishment of industrial armies, especially for agriculture.
9. Combination of agriculture with manufacturing industries; gradual abolition of all the distinction between town and country by a more equable distribution of the populace over the country.
10. Free education for all children in public schools. Abolition of children's factory labor in its present form. Combination of education with industrial production, etc.
To what is currently happening in the states....welcome communism!
- Ah yes...abolition of childrens factory labor...horrors!ukit
- looks like it's headed there, with you know who in charge of the folly********
- You guys gather up the wimmin folk and childrens. Don't forge the shotgun and the confederate flag.TheBlueOne
- ********0
- TheBlueOne0
What a fucking joke you guys are..."welcome communism! "
Yeah..all under A FUCKING Republican rightwing jackhole presidential administration, yet you're already blaming the guy who's not in power yet.
Real nice cognitive dissonance.
Fuck off.
- You have no clue what you are talking about TBD. Go back and actually read the communist manifesto.designbot
- and if you were talking to me about blaming Obama, I don't blame Obama at all...come on now.designbot
- I am sure I don't like Bush anymore than you do, and agree he's done ALOT of damage. But you simply can't blame one man for it all either.designbot
- afterall this is a democracy no? If things get worse with Obama in office can I blame it all on him and his administration?designbot
- So, the plan by Paulson and other leaders of the corporate world is a Communist one?TheBlueOne
- Interesting. I thought these were all big Free Market guys..rah rah rah...TheBlueOne
- ukit0
Um...we are pretty freakin far from communism guys. If we are communists than why is it so hard to think of countries that are more right wing than us? I guess the whole world is communist!
- TheBlueOne0
Yo don't even know the difference between communism and the obvious fascist oligarchy land grab going on right in front of your eyes.
Communism is at least supposed to benefit "the workers". The only people here getting the money are the same assholes who invented these "exotic financial instruments" to fleece the "free market".
I see plenty of cash for Wall Street dickwads, and none for infrastructure, health care or anything else that would benefit John Q. Public.
Can't bailout the auto industry because you know, that would only keep millions of regular people employed. But Citibank cries and oh, here you go buddy $300 billion.
This ain't communism. his is corporate fascism.
- It isn't the governments job, why can't anyone see this? It will only make things much much worse. They are not a charity.designbot
- you want to give the american automobile manufacturers absolutely no reason to be innovative and keep doing "the same" this is a good start.designbot
- Damn those unions for destroying Citigroup!!!TheBlueOne
- same" this is a good start. Why do you think no American want American cars anymore? cause they are shit.designbot
- No, I think GM, Ford, etc. should be llowed to fail. But it's BS that the fiance industry gets money and then the auto industry doesn't...TheBlueOne
- it's not like if they go belly up all the assets will evaporate. Someone will come along and resurrect them with real innovation.designbot
- innovation.designbot
- industry doesn't. Esp. bc the auto ind. has a long train that effects many working americans.TheBlueOne
- Okay I agree with what you said there. I just think they (the gov't) should stay out period.designbot
- ********0
In other news...
Chavez accused of behaving like 'dictator' ahead of elections
http://www.telegraph.co.uk/news/…- Because he is a fucking dictator, Captain Obvious.TheBlueOne
- You really think so? I'm serious. Their election process if rigged?********
- TheBlueOne0
He was right a year ago. He's right now. And we're fucked.
- The guy you said whose economic leanings were 'ideal at best' has been saying these exact same things. Ron Paul. :)tommyo