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"I'm frankly getting tired of talking about Newt. I mean, it's a pointless exercise," Limbaugh said of Gingrich's dismissal of him on "Meet the Press." "I'm surprised by nothing when I'm dealing with people in the media who think they're in politics. ... They are fly-by-night operators, and most of them stand for nothing until they see a poll about what the American people want, and then they go out and try to say one way or another what the American people want while trying to falsely hold onto an ideology at the same time — and you can't count on them. You can't depend on them. They will sell you out; they will throw you overboard to save themselves, faster than anything. And they'll use you on their way up as often as they can at the same time."Ben has the entire transcript - go read it. Read More......
"I mean, next week Newt could come out and profess his total admiration and love for me if it would serve his purposes," he continued. "They're running TV ads against me. Newt Gingrich wishes they were running TV ads against him."
In a memo to senior government officials, Obama said they must check with Attorney General Eric Holder before relying on any of Bush's signing statements for guidance. Bush often issued a statement when signing a bill into law, and critics said the statements at times showed government officials how to circumvent the law if Bush disagreed with it on constitutional grounds.Read More......
So here’s the picture that scares me: It’s September 2009, the unemployment rate has passed 9 percent, and despite the early round of stimulus spending it’s still headed up. Mr. Obama finally concedes that a bigger stimulus is needed.The Republicans have made clear that saying-no is their only shot at being relevant. They didn't want this stimulus package, and they're really not going to want the next one, regardless of whether that position sends us into an even worse economic crisis. We learned over the past eight years that the GOP is more than happy to sacrifice country for party. Everything is ideology with them. And a big depression is a small price to pay for getting their majority back in Congress and their president back in the White House.
But he can’t get his new plan through Congress because approval for his economic policies has plummeted, partly because his policies are seen to have failed, partly because job-creation policies are conflated in the public mind with deeply unpopular bank bailouts. And as a result, the recession rages on, unchecked.
Fear and confusion have been driving consumer and investor behavior in recent months, Buffett said.Interesting points. Namely, that we've psyched the public out, and that needs to stop, and turn around. Two, we need to end the partisanship. That's impossible. But perhaps we can sufficiently beat into submission those who would be partisan, just as Bush did with the aftermath of September 11. He effectively shut down opposition for years. Three, Obama needs to look the part. Not that he doesn't, but this feeds into point 2. When Obama speaks about the economy, the perception needs to be that their commander in chief is speaking about the war. Authoritative, and untouchable. And four, Buffett is right, some morons are going to benefit from whatever plans we come up with. And I'm okay with that. If only because we have no choice. The alternative is letting things get much worse.
The nation's leaders need to clear up the confusion before anyone will become more confident, and he said all 535 members of Congress should stop the partisan bickering about solutions....
"What is required is a commander in chief that's looked at like a commander in chief in a time of war," Buffett said.
Whatever the government does to help the economy will likely benefit some people who made poor financial decisions, but Buffett said Americans should realize that everyone is in the same boat.
Goldman Sachs' chief executive said he opposed the full nationalisation of banks, but thought government stakes could be sensible in extreme situations, in an interview with German weekly Welt am Sonntag.Right. And what opportunity and reward are American taxpayers receiving by bailing out AIG, thus Goldman? Maybe he would care to comment on that situation next time. Read More......
"I don't think that nationalisation is a good solution. It is decisive that the financial system is being stabilised and governments have to act in a pragmatic manner," Lloyd Blankfein was quoted as saying.
"In extreme situations, it can be meaningful when the government takes a stake. However, full control should be avoided," he added.
Asked about the case of stricken German property lender Hypo Real Estate, which has already received 87 billion euro ($110 billion) in state guarantees, Blankfein said: "There can be extreme situations, where there is no alternative. Then the following must apply: If the tax-payer raises the whole capital of a company, it has to belong to him. Otherwise, the state is in danger of taking only risks, without having the opportunities."
GOP Rep. Patrick McHenry, a key player in helping craft the Republican message, has offered an unusually blunt description of the Republican strategy right now.I guess when you're guaranteed a government-paid salary of $170k or so a year - and get a raise just two months ago - you can afford to focus on more important things than the health of the nation. Read More......
McHenry’s description is buried in this new article from National Journal (sub. only):“We will lose on legislation. But we will win the message war every day, and every week, until November 2010,” said Rep. Patrick McHenry, R-N.C., an outspoken conservative who has participated on the GOP message teams. “Our goal is to bring down approval numbers for [Speaker Nancy] Pelosi and for House Democrats. That will take repetition. This is a marathon, not a sprint.”McHenry’s spokesperson, Brock McCleary, tells me his boss is standing by the quote.
Judge Keller, 55, has always kept her own counsel; her colleagues at the court have given her the nickname Mother Superior because of her reserved and diligent demeanor and her devout Roman Catholic faith.So, how does a devout Roman Catholic judge in Texas operate:
In 1998, Judge Keller wrote the opinion rejecting a new trial for Roy Criner, a mentally retarded man convicted of rape and murder, even though DNA tests after his trial showed that it was not his semen in the victim.Now, that's very Catholic. I don't purport to be a religious scholar, but I have a hard time thinking Jesus would share that view. Judge Keller is currently on trial for judicial misconduct:
“We can’t give new trials to everyone who establishes, after conviction, that they might be innocent,” she later told the television news program “Frontline.” “We would have no finality in the criminal justice system, and finality is important.”
Seventeen months ago, lawyers for a man facing execution sought extra time to file a last-minute appeal. Judge Keller refused to delay the closing of her clerk’s office past 5 p.m., even though late filings are common on the day of a scheduled execution. The man, Michael Richard, was put to death by lethal injection a few hours later.So, here's the question? Where's the outrage from the Catholic hierarchy? Has Judge Keller been denied communion? Has the Catholic version of Rush Limbaugh, the racist, homophobic Bill Donohue, been bloviating about Keller? Of course not. The hypocrisy in the church is rampant. Can't criticize Keller. She's a Republican.
"This is all about the numbers. This not about lifestyle or anything else," says U.S. Census spokeswoman Cynthia Endo.Gee, are you counting the black lifestyle and the Asian lifestyle? How about the male and female lifestyles? Idiot.
The Federal Government may not treat same-sex relationships as marriages for any purpose, even if concluded or recognized by one of the states.That has zero to do with counting individual gay people or gay couples in the census. DOMA says the feds can't treat same-sex relationships as marriage. The census is already counting "unmarried partners," and they're including unmarried gay partners in the larger mix (they're not telling gay people not to include their partners there). The problem is that they're including straight partners too, so the numbers don't tell you much. But, in any case, counting gay couples, counting individual gay people, counting gay people who call themselves married doesn't not "endorse" gay marriage, nor does it "treat" those relationships the same as marriage. Why? Because the census counts lots of things that it doesn't treat the same as marriage. It counts how many Latinos we have in the country - is that because counting Latinos somehow treats Latinos as "marriage"? No. The census can count things without "endorsing" things. It could even count gay married couples in order to help stop the spread of God-awful gay marriage (snark, but true).
The deal is likely to cause anger among taxpayers and shareholders as previous deals for bailed out bankers have been described as rewards for failure.Banks have learned that it's best to promote the cases of the lower wage earners but more often than not, the big money somehow trickles up. Read More......
The Government is about to take a 77pc stake in the business in return for effectively underwriting £260bn of 'toxic debt' in the Treasury's asset protection scheme.
UK Financial Investments (UKFI), the Treasury agency which will hold the bank shares for the taxpayer, has agreed to a deal that means junior staff will continue to get bonus top-ups on a quarterly basis.
More senior managers will have to wait up to three years before collecting payments linked to their performance last year.
According to a banking source, the agency felt it was unfair to penalise branch staff and other junior employees, who are paid an average of £17,000 a year, for the crisis facing the group.
The bank's executive directors have already agreed to waive their bonus rights.
More than 40,000 junior staff will collect bonuses of around £1,000 this year, making up more than half of the bonus pot, while more senior managers will get the first of three payments next year unless their performance slips.
The rescue deal follows the heavy losses uncovered by Lloyds after the takeover of rival HBOS and means two of the big four High Street banks - Royal Bank of Scotland is the other - are now effectively 'nationalised'.
The United States should let some big troubled banks fail rather than commit more federal funds to prop them up, two key congressional Republicans said Sunday.Read More......
Senator Richard Shelby, top Republican on the banking committee, said the United States should not mimic Japan, which in the 1990s propped up failing banks and prolonged its economic downturn.
"Close them down, get them out of business. If they're dead, they ought to be buried," Shelby told ABC's "This Week" program. "We bury the small banks. We've got to bury some big ones and send a strong message to the market."
Financial authorities have been under increasing fire as hundreds of billions of dollars of loans and capital infusions into distressed institutions have failed to halt the economic downturn, which has only accelerated in recent weeks.
Senator John McCain, who remains a Republican leader after losing the 2008 White House race to President Barack Obama, criticized the new administration's response to the banks.
"I don't think they made the hard decision and that is to let these banks fail," McCain told "Fox News Sunday." As the U.S. government boosts its stakes in major banks such as Citigroup, talk of nationalization has stirred a debate over how far regulators will go to help the ailing financial system.
Shelby did not mention any banks by name but, when asked about Citigroup, he said: "Citi's always been a problem child."
With "no end in sight" for U.S. job losses amid a recession that could stretch into 2010, American workers will soon have to contend with another blow to their confidence: stagnant, or even falling wages.Read More......
Job seekers—already coping with the highest unemployment rate in a quarter century, their savings mugged by a plunging stock market—can also expect lower pay once they land a new job, labor market experts say, because the current downturn shows no signs of turning around anytime soon.
"There's no end in sight," said Tig Gilliam, chief executive of Adecco Group North America, the third-largest U.S. employer behind Wal-Mart and the postal service.
"March is going to be the same, and I don't see anything that will make April better." Lower wages, in turn, could further erode the outlook for the U.S. economy by hurting consumers' spending power.
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