Food Blogger Camp 2011
1 day ago
Regional-banking shares led the decline in the financial-services sector on Monday. Among the biggest losers were National City Corp., Washington Mutual Inc., Zions Bancorp Inc., Sovereign Bancorp Inc., KeyCorp, First Horizon National Corp., M&T; Bank Corp. and Regions Financial Corp.Read More......
Washington Mutual shares closed the session off nearly 35%. Lehman Brothers analysts in a report Monday said WaMu could be forced to "substantially" boost its reserves to cover an estimated $28 billion of losses on the balance sheet, with $21 billion coming from mortgages. They said home prices and mortgage credit are showing no signs of stabilizing.
Meanwhile, National City shares were briefly halted Monday amid a panic-driven plunge before the company in a statement tried to quell what it labeled market rumors. "National City is experiencing no unusual depositor or creditor activity," the Cleveland-based bank said. The stock rebounded from a low of $2.99 but still finished the day down almost 15%.
An escalating number of voters registering as Democrats is providing evidence that the 2008 election could produce a wave of support for Barack Obama — and trigger a decades-long shift of party allegiance that could affect elections for a generation.Something is happening in Florida for sure. It could be a big year for Democrats -- which brings me to Annette Taddeo.
The numbers are ominous for Republicans: Through May, Democratic voter registration in Broward County was up 6.7 percent. Republican registrations grew just 3 percent while independents rose 2.8 percent.
Democrats have posted even greater gains statewide, up 106,508 voters from January through May, compared with 16,686 for the Republicans.
Today I attended an event put on by 11 Democratic congresswomen from Southern California. Each of the 11 donated a minimum of $1,000 to each of 8 women who are running for Congress from around the country. As soon as I walked in Blue America incumbent-- and one of the event's hostesses-- Hilda Solis, introduced me to Annette about who she was extremely enthusiastic. It didn't take long before I understood why.Don't forget our ActBlue page for Annette. She will be the kind of Democrat we really need more of in D.C. -- a better Democrat. Interesting, too, that as far as I can tell, Annette is the only Democratic Latina running as a challenger this year.
A successful entrepreneur, Annette is a thoughtful progressive who backs women's rights, gay rights, a quick, responsible end to the occupation of Iraq (which she has opposed from the very beginning of Bush's misadventure) and she is eager to work to get corporate bribes out of the political system. She took a strong position against warrantless wiretaps and retroactive immunity. She is extremely charismatic and made a spectacular speech during the lunch, if not stealing the show, at least sharing the spotlight with Linda Sanchez and Darcy Burner, each of whom also was greeted with thunderous applause.
Coming up on the five year anniversary of when I deployed. Yesterday's attack – full frontal on a base – NEVER would have happened when I was there. We used to joke when we pulled perimeter security for the FOB (forward operating base) that the only real danger was from a sergeant catching you racked out. The enemy was disorganized and didn't even have the capacity to mount a serious attack on an American base. ACMs (anti-coalition militias) focused on soft targets (aid workers, civilians) almost exclusively.Read More......
The first time I went into the mountain villages, I was really shocked by all the Karzai posters in peoples' homes. The Afghans were really on board with us. The biggest difference between Afghanistan and Iraq – and there are a lot – is that Afghans have been at war since 1978. They were exhausted. They didn't want to fight anymore. They were happy to have us take over for them.
I'm not there, now, so I don't know what I'm not seeing, but it seems like that's gone. We've been there almost 7 years, and we still can't get decent roads built? We can't protect our friends and allies? It's bullshit, but it was clear even in '03 that no one at the highest levels really cared about our theater. Newsweek was already calling it the Forgotten War. We never resourced it properly, so we didn't kill the insurgency in its cradle.
I think we probably can still pull Afghanistan out, but not as long as we're stuck in Iraq, and every day we delay, getting to win gets more and more unreachable. We saw it yesterday. We're losing Afghanistan slowly. When I think about the fact that we're losing two wars, and so many people, it's so fucking depressing.
"President Bush has tried to give the impression that the $3 trillion dollar estimate of the total cost of the war that we provide in our new book may be exaggerated.Read More......
"We believe that it is, in fact, conservative....
"In adding up the quantifiable costs of the war, it is hard not to come up with a number in excess of $3 trillion. In putting a $3 trillion price tag on the war, we believe we have been excessively conservative - a $4 or $5 trillion tag would be more reasonable. And remember - this is just the cost for America."
SEN. JOHN McCain says that President McCain would balance the federal budget by 2013. The plan is not credible.Not credible. Strong words. But, do the facts matter to the punditry? Read More......
The Congressional Budget Office projects a deficit of $443 billion in 2013 if President Bush's tax cuts are extended, as Mr. McCain wants, and the alternative minimum tax is merely patched to make certain it does not hit growing numbers of taxpayers. But Mr. McCain is proposing far more tax cuts. The only way he avoids having them add hundreds of billions more to the deficit in 2013 is by phasing them in and adding other caveats. Mr. McCain says on the campaign trail that he would repeal, rather than merely adjust, the alternative minimum tax, slash the corporate tax rate, now 35 percent, to 25 percent, and double the exemption for dependents. It turns out that none of that would be fully implemented by the end of the first McCain term. The nonpartisan Tax Policy Center estimates the extra cost of the scaled-back plan at $47 billion in 2013, bringing the deficit to a daunting $490 billion. Sen. Barack Obama's campaign claims it would be far higher, somewhere between $650 billion and $750 billion.
The McCain campaign says it will fill the hole with spending cuts. It would "reclaim billions" by rooting out existing earmarks and prohibiting new ones; impose a one-year freeze on discretionary spending other than for defense and veterans; and "reserve all savings from victory in the Iraq and Afghanistan operations" to use toward deficit reduction. These claimed savings are illusory.
The White House says President Bush is planning to lift an executive ban on offshore oil drilling.Read More......
In a Rose Garden statement on Monday, the president plans to lift the ban. But by itself, the move will not lead to more drilling off America's coastline.
Congress must still lift its own legislative ban before offshore drilling can happen.
"I'm a little on the fence here. It's obviously satire, made clearer by the fact that the New Yorker is a deeply friendly publication to Obama and the Democrats these days. So is the outrage -- encouraged here by the campaign -- an appropriate reaction? Or the new, pro-Obama PC? (If the latter, all's fair on the campaign trail in any case... but it could prove a worryingly powerful tool used from the White House.)"I like Ben, but I don't recall any such concern when his own story from two weeks ago was used by the McCain campaign, and corporate media pundits like Mrs. Greenspan and others, to repeatedly eviscerate Wesley Clark and me, among others, for questioning the connection between John McCain's wartime experience and whatever qualifications he may or may not have as commander in chief. We're told that it looks an awful lot like pro-Obama PC to object to the depiction of Mrs. Obama as some blackxploitation gunslinger, of Senator Obama as a look-alike for Osama, of both as flag burners who would defile the Oval Office. Depicting Obama and his wife in this offensive, stereotypical, and borderline racist manner is okay and fair game because, as Ben says, "all's fair on the campaign trail." But, as we learned just two weeks ago, asking questions and drawing conclusions about actual experiences from John McCain's life, and their impact on his qualifications for president, is beyond the pale, gutter politics, and downright un-American.
The Sunday Times reports Stephen Payne, a Bush pioneer and a political appointee to the Homeland Security Advisory Council, was caught on tape offering access to key members of the Bush administration inner circle in exchange for “six-figure donations to the private library being set up to commemorate Bush’s presidency.”Heckuva job, Payney. Read More......
In an undercover video, Payne is seen promising to arrange a meeting for an exiled leader of Krygystan with Dick Cheney or Condoleezza Rice. (Not President Bush because “he doesn’t meet with a lot of former Presidents these days,” Payne says. “I don’t think he meets with hardly anyone.”) All it will take for him to arrange this high-level meeting, says Payne, is “a couple hundred thousand dollars, or something like that”:PAYNE: The exact budget I will come up with. But it will be somewhere between $600,000 and $750,000, with about a third of it going directly to the Bush library. […]
200, 250, something like that. That’s gonna be a show of “we’re interested, we’re your friends, we’re still friends.”
Watch the startling video here.
As The Times reported two weeks ago, Iraq has monopolized our military and intelligence resources to the point where we don’t have enough predator drones or expert C.I.A. field agents to survey the tribal areas where terrorists are amassing in Pakistan. Meanwhile, the threat to America from Al Qaeda is “comparable to what it faced on Sept. 11, 2001,” said Seth Jones, a RAND Corporation terrorism expert and Pentagon consultant. The difference between now and then is simply that the base of operations has moved, “roughly the difference from New York to Philadelphia.”We're going to be paying for the misguided rush to war in Iraq and the illegal program of torture for a very long time. George Bush is the worst offender. But, every member of Congress who voted for Bush's war back in 2002 and failed to hold him accountable shares responsibility for the failure to finish the job. American soldiers are paying the price. And, the rest of us aren't any safer. Read More......
Yet once again terrorism has fallen off America’s map, landing at or near the bottom of voters’ concerns in recent polls. There were major attacks in rapid succession last week in Pakistan, Afghanistan (the deadliest in Kabul since we “defeated” the Taliban in 2001) and at the American consulate in Turkey. Who listened to this ticking time bomb? It’s reminiscent of July 2001, when few noticed that the Algerian convicted of trying to bomb Los Angeles International Airport on the eve of the millennium testified that he had been trained in bin Laden’s Afghanistan camps as part of a larger plot against America.
In last Sunday’s Washington Post, the national security expert Daniel Benjamin sounded an alarm about the “chronic” indecisiveness and poor execution of Bush national security policy as well as the continuing inadequacies of the Department of Homeland Security. Mr. Benjamin must feel a sinking sense of déjà vu. Exactly seven years ago in the same newspaper, just two months before 9/11, he co-wrote an article headlined “Defusing a Time Bomb” imploring the Bush administration in vain to pay attention to Afghanistan because that country’s terrorists “continue to pose the most dangerous threat to American lives.”
And so we’re back where we started in the summer of 2001, with even shark attacks and Chandra Levy’s murder (courtesy of a new Washington Post investigation) returning to the news. We are once again distracted and unprepared while the Taliban and bin Laden’s minions multiply in Afghanistan and Pakistan. This, no less than the defiling of the Constitution, is the legacy of an administration that not merely rationalized the immorality of torture but shackled our national security to the absurdity that torture could easily fix the terrorist threat.
That’s why the Bush White House’s corruption in the end surpasses Nixon’s. We can no longer take cold comfort in the Watergate maxim that the cover-up was worse than the crime. This time the crime is worse than the cover-up, and the punishment could rain down on us all.
The BBC has found the first evidence that China is currently helping Sudan's government militarily in Darfur.Read More......
The Panorama TV programme tracked down Chinese army lorries in the Sudanese province that came from a batch exported from China to Sudan in 2005.
The BBC was also told that China was training fighter pilots who fly Chinese A5 Fantan fighter jets in Darfur.
China's government has declined to comment on the BBC's findings, which contravene a UN arms embargo on Darfur.
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