Wednesday, February 4, 2009

I Wonder What The Republican Definition Of “Stimulus” Is…Total Collapse Followed A Military Dictatorship?


I Wonder What The Republican Definition Of “Stimulus” Is…Total Collapse Followed A Military Dictatorship?

 


"The action I am taking is no more than a radical measure to hasten the explosion of truth and justice. I have but one passion: to enlighten those who have been kept in the dark, in the name of humanity which has suffered so much and is entitled to happiness. My fiery protest is simply the cry of my very soul. Let them dare, then, to bring me before a court of law and let the enquiry take place in broad daylight!"

- Emile Zola, J'accuse! (1898) –

 

“If ye love wealth better than liberty, the tranquility of servitude than the animating contest of freedom, — go from us in peace. We ask not your counsels or arms. Crouch down and lick the hands which feed you. May your chains sit lightly upon you, and may posterity forget that ye were our countrymen!”

-Sam Adams-

 

Republicans Clearly Are Willing to Let This Country Collapse if They Think it Will Win Them Elections

 

It is abundantly clear that the Republican leaders are going to do everything to prevent Obama and the Dems from doing anything constructive.

 

Last week, we witnessed how the Republicans will help serve this country in the worst crisis since the Great Depression.

 

By standing together in opposition to the stimulus package, they showed the world that they haven't at all joined the momentum of the new administration; rather they are still playing politics and are focused on the 2010 elections. Their objections to the stimulus have nothing to do with trying to solve this crisis.

 

I was always struck during the Bush Error (otherwise known as Era), that the axis of evil title was slapped onto any entity not aligned with their inane response to any issue they faced. Whether it was Iraq or Hurricane Katrina, time and time again we were expected to take their word through blind faith and or outright deceit.

 

Now the remaining cronies have sunk to an unthinkable new low. It is abundantly clear that the Republican leaders are going to do everything to prevent anything constructive from happening. They will be sure our damaged nation does not get fixed on Barack Obama's watch, the public be damned.

 

Last week, Obama's plans were debated in Congress. His goal of creating 2 million to 3 million jobs in the next two years through a massive rebuilding program of our crumbling infrastructure, was countered by the Republicans' revised stimulus plan. Their plan was not detailed beyond more tax cuts.

 

Here's the catch: The Republicans said their plan would create 6 million jobs. Really. Remember “Mission Accomplished”? Just saying something doesn't make it true.

 

The Republican playbook is about standing in opposition, knowing full well that the Democratic Congress is going to pass a stimulus package. Their next step is to go home and sell to what's left of their constituencies the notion that if we had listened to them, things would be far rosier. As a minority, a control group is unlikely to emerge that can disprove false numbers based on false rhetoric. They can go back and campaign in two years whether or not Obama's plan creates anywhere close to the number he hopes and tell the world, and claim that their plan would have provided double the number.

 

A perfectly manipulative strategy which plays to the short-term memory of the American electorate.

 

The minority role in government should be about balancing the need of their constituencies with real ideas that create a stronger way of finding a solution. In the modern era of politics Rush Limbaugh style, it is all about spewing hate and misinformation in the guise of governing for the good of the people. The very people that the Obama plan will help most, are the very same people that are being preached to by the likes of Limbaugh and his puppets in Congress.

 

Yes, the power of right-wing talk radio is finally being seen for what it is, the true center of gravity for one of the two major parties in this country. With a total vacuum of leadership in the Republican Party, they are left with the hot-air balloon of the airwaves creating the impression that failure is the best option for the good of this country.

 

This type of inertia is what Republicans think they need to get back in power, and they are going to their best to try and make that happen. The people of this nation will continue to suffer through this false debate that has nothing to do with solving problems, but is all about Election 2010. Make no mistake. This group of “unconscientious dissenters” can say anything and do nothing. Only time will tell if their strategy for regaining power is successful.

 

Given this tactic, it is up the Democrats and their supporters to now do what is best for the country and stop worrying about appeasing those people who do not serve for the good of the people. President Obama started with his best foot forward and will need to leave these negative forces in his wake.

 

The stakes are too great to play talk-radio politics and let us be falsely governed by an obstructive minority.

 

CNN Political Ticker: All politics, all the time Blog Archive ...
By CNN Associate Producer Martina Stewart
They will try to topple or cripple the Obama Administration with lies, obstruction, impeachment (wait and see), filibusters, distortion, half-truths, and delay. Don't believe any of this small government/individual liberty crap that ... Had the Republicans in Congress had an ounce of oversight where Bush/Cheney were concerned, we wouldn't be in this mess right now!! Prayerfully Americans will remember just who put us into this mess before pointing the finger at Obama. ...
CNN Political Ticker - http://politicalticker.blogs.cnn.com/

 

That’s Nice; Now What The Hell Are You Prepared To About It?

DELAHUNT POSTS JUDICIARY REPORT ON BUSH ABUSES

http://www.house.gov/delahunt/imperialpresidency.pdf

  http://www.house.gov/delahunt.

 

As I write this, thousands of workers are gathering on Capitol Hill to call for an economy that works for everyone.

Joined by members of Congress, they came to deliver dozens of boxes containing some of the 1.5 million signatures on our petition to pass the Employee Free Choice Act and rebuild the middle class.

But corporate lobbyists are mounting a ferocious campaign to defeat this bill. We need your grassroots power to fight back.

So we've set a new goal: 2 million signatures before Congress goes on its February break. Every new name on the petition will add strength to our brand new online roll call showing the million-plus supporters of the Employee Free Choice Act!

Here's 4 ways you can help right now:

1. If you haven't already, sign the petition TODAY and help
rebuild the middle class.
http://action.unitehere.org/ct/SpSMYen18q-V/

2. Send this message to a few friends and ask them to sign
before February 16.
http://action.unitehere.org/ct/S7SMYen18q-Z/

3. Post our scrolling petition showing the million-plus
supporters of the Employee Free Choice Act to your website or
blog. http://action.unitehere.org/ct/SdSMYen18q-K/

4. Join UNITE HERE for Change, UNITE HERE's campaign to win the
change that working people voted for.
http://action.unitehere.org/ct/S1SMYen18q-D/

Every worker bringing boxes of petitions to their Senator today is also bringing a message: it's time our economy worked for everyone. Too often, a lifetime's hard work is rewarded with soaring healthcare costs, home foreclosure, and an uncertain
future.

The Employee Free Choice Act is critical to our economic recovery. Good union jobs built America's middle class, and this legislation will rekindle the American Dream by leveling the playing field empowering worker to form unions and bargain for a
better life.

That's why greedy CEOs are terrified of this bill. One top executive has called it "the demise of a civilization."* And they’re fighting with underhanded tactics, misleading ads, shady front groups, and of course, big budgets..

But we can win, if enough of us get involved. Members of Congress have a weeklong break this month, and we've planned hundreds of lobby meetings at their home offices.

Imagine those workers handing over our petition and being able to say, "Two million people support the Employee Free Choice Act."

Please, sign the petition now. And ask your friends to do the same.

We'll keep you posted on how you can help once the bill is introduced and as the vote gets closer. Thank you, once again, for being part of this fight.


For more on the Employee Free Choice Act and UNITE HERE's efforts visit www.UniteHereforCHANGE.org

http://action.unitehere.org/join-forward.html?domain=heregetactive&r=P7SMYenqRrGM

If you received this message from a friend, you can sign up for
UNITE HERE e-Activism at:
http://action.unitehere.org/heregetactive/join.html?r=P7SMYenqRrGME

 

 

Caps on Executive Pay Seen as Precursor to Further Bailout Moves

 

In a precursor to a broad overhaul of the troubled financial industry bailout, President Obama on Wednesday announced strict restrictions on the executive compensation of aid recipients.

Obama said companies receiving “exceptional assistance” from the government must put a salary cap of $500,000 on their top executives. Those executives would not be eligible for bonuses above their base pay, according to sources familiar with the plan.

“As part of the reforms we are announcing today, top executives at firms receiving extraordinary help from U.S. taxpayers will have their compensation capped at $500,000 – a fraction of the salaries that have been reported recently,” he said. “And if these executives receive any additional compensation, it will come in the form of stock that can’t be paid up until taxpayers are paid back for their assistance.”

Companies getting federal bailout funds would also have to report their expenses more fully.

“Companies receiving federal aid are going to have to disclose publicly all the perks and luxuries bestowed upon senior executives and provide an explanation to the taxpayers and to shareholders as to why these expenses are justified,” Obama said.

The restrictions are by far the most sweeping imposed on companies that have been lambasted for continuing lavish corporate getaways, handing out billions of dollars in bonuses and other business-as-usual moves that infuriated lawmakers and the public alike.

 

Jerusalem Post attacks Georgetown University’s Arab Studies centers

Posted by: Anna Bank in Uncategorized, tags: bias, center for contemporary arab studies, center for muslim-christian understanding, jerusalem post, middle east, program for jewish civilization

 

The fighting in Gaza may have cooled for now, but the Arab-Israeli conflict seems to have set its sights on Georgetown.

 

Amir Romirowsky of the Jerusalem Post published an article earlier this week lauding Georgetown’s Program for Jewish Civilization and lambasting the Center for Contemporary Arab Studies (CCAS) and the Prince Alwaleed bin Talal Center for Muslim-Christian Understanding (CMCU), alleging that the Centers have a pro-Arab bias.

 

CMCU Associate Director John Voll called the article “basically ill-informed” and took issue with its characterization of his Center as “the locus of academic apologetics for Wahhabism in America”:

 

“I have seen the article and am glad to see that the Program for Jewish Studies gets a positive description. However,the author clearly has not bothered to read anything that the people on the faculty of the Alwaleed Center have written. For example, I would find it difficult to describe what I have written on Sufism (the mystical tradition in Islam which is opposed by strict Wahhabi teachers) as presenting ‘a glossy version of Wahhabi Islam.’”

 

CCAS Director Michael Hudson echoed Voll’s sentiments and denied Romirowsky’s controversial allegation that CCAS supports a one-state solution to the Palestinian-Israeli conflict, saying that CCAS does not take advocacy positions, although he did add that “as the possibilities for a two-state solution have receded (due in part to Israel’s colonization of East Jerusalem and the West Bank, and in part to the failure of the U.S. to curb it) there is more discussion of going back to a one-state model.”

 

The Voice has defended the CMCU against allegations of bias in the past, and the latest accusations seem equally unfounded. Perhaps it’s naive to hope that the PJC, CCAS, and CMCU can be impartial places of academic inquiry, rather than lobbying organizations for their respective sides. But in light of the recent crisis, impartiality at places like Georgetown is more necessary than ever.

 

For more reporting on Georgetown’s take on the Gaza crisis, check out Eric Pilch’s News feature over on the main site.

 

 

THE BULLSHIT SECTION

http://www.informationclearinghouse.info/article21903.htm

 

The War on Terror is a Hoax | By Paul Craig Roberts

 

According to US government propaganda, terrorist cells are spread throughout America, making it necessary for the government to spy on all Americans and violate most other constitutional protections. Among President Bush’s last words as he left office was the warning that America would soon be struck again by Muslim terrorists.

If America were infected with terrorists, we would not need the government to tell us. We would know it from events. As there are no events, the US government substitutes warnings in order to keep alive the fear that causes the public to accept pointless wars, the infringement of civil liberty, national ID cards, and inconveniences and harassments when they fly.


The most obvious indication that there are no terrorist cells is that not a single neocon has been assassinated…

 

WHITE NOISE INSANITY » Blog Archive » Dick Cheney is getting ready ...
By kayinmaine
Dick Cheney may not be in office anymore, but he still has contact with those in his Shadow Government. Between his Shadow Government and the Shadow Economy created under the Bush Regime, it’s amazing we’ve all survived ...
WHITE NOISE INSANITY - http://whitenoiseinsanity.com/

 

Pat Dollard | Young Americans | Blog Archive » Down The Path To ...
In an interview Tuesday with Politico, Cheney unyieldingly defended the Bush administration’s support for the Guantanamo Bay prison and coercive interrogation of terrorism suspects. .... Impeach OBAMA now!!! February 4th, 2009 at 10:17 am; Steve in NC. We owe a debt of gratitude for his service to this country. Shame is he is probably right. Remember Biden said to gird your loins for the attack to soon come. February 4th, 2009 at 10:52 am; DesignR. From the horse’s mouth. ...
Pat Dollard | Young Americans - http://patdollard.com/

 

Disgusted Beyond Belief: Dick Cheney is an Evil Man
By DBB
In an interview Tuesday with Politico, Cheney unyieldingly defended the Bush administration’s support for the Guantanamo Bay prison and coercive interrogation of terrorism suspects. And he asserted that President Obama ...
Disgusted Beyond Belief - http://disgustedbeyondbelief.blogspot.com/

 

The Splendid Isolationist.: Bush Admin Threatened The UK Not To ...
By Anders.
It appears that the British government were threatened by the Bush admin not to release details of a British resident currently being held in guantanamo bay, in what sounds like a case of black mail, the Bush admin ...
The Splendid Isolationist. - http://mrknightblog.blogspot.com/

 

I Am Going To Repeat Myself.  Your Silence Is Surrender To The Continued Republican Neocon Drive.  A Better Idea Yet;  100,000 Or More Americans Marching On And Into The House And Senate Chambers Demanding That We Be Put First On That We Will Exercise Our Declaration Of Independence Rights And Replace The Entire Corrupt Non Functional System We Are Witnessing Piss Away America!

 

Dear Ed,,

 

100 to 1. We've gotten word from our progressive friends on Capitol Hill that for every one hundred phone calls to Congress from conservatives trying to obstruct change, there is only one phone call from a citizen demanding passage of President Obama’s economic recovery bill.

 

Backed by this conservative grassroots pressure, Senate Republicans are moving rapidly as a block to obstruct — pushing reforms that are designed essentially to make the plan fail. They're demanding that billions be cut from a plan that, if anything, is already too small, and that more be diverted to top-end tax cuts.

 

That's not how you create jobs or counter a recession.

 

We can't allow this partisan posturing in the midst of a national crisis. Progressives need to pick up the phone now to counter the onslaught of calls pouring into the Senate from conservatives.

 

Call 1-866-544-7573 and tell your Senators: Pass the American Recovery and Reinvestment Act NOW!

 

Consider what conservatives might succeed in passing if they continue to out-call us 100 to 1:

 

  • Giving corporations a 30% tax cut, instead of investing in clean green energy that will put people to work.
  • $3.1 trillion in tax cuts for the wealthy that we know simply don't work to create jobs.
  • Less help for states that will be forced to lay off workers, instead of funds to retain police and teachers.

 

This is not the change America is demanding. It's the same failed Bush policies that drove us to economic disaster. It's time to get to work. This is the first big battle of the Obama administration, and we’ve got to reignite the fight for change.

 

Call 1-866-544-7573 and tell your Senators: Resist right-wing pressure and pass an economic recovery bill that puts ordinary Americans first.

 

Most Americans support a big and bold bill that creates jobs, generates clean energy, modernizes infrastructure, makes education and health care more affordable and protects state governments from slashing services.

 

But that message is getting drowned out in Washington as conservatives out-organize us and bury Congress in calls. We need to respond!

 

Call 1-866-544-7573 and tell your Senators: Pass a big and bold economic recovery bill that puts America back to work.

 

On the night Barack Obama was elected President, he said, "This victory alone is not the change we seek. It is only the chance for us to make that change. And that cannot happen if we go back to the way things were. It cannot happen without you."

 

And it cannot happen if we let conservatives out maneuver us on this pivotal first fight 100 to 1. If we want to turn change from a slogan to reality, we must speak up. Now.

Sincerely,

Robert L. Borosage, Co-Director
Campaign for America’s Future

Barnicle Complained About Caps On Salaries For Bank Execs Without Noting His Wife Is One

 

On the February 4 edition of MSNBC's Morning Joe, political analyst Mike Barnicle referenced reports that President Obama will require banks that receive a significant amount of money from the federal government to cap the salaries of their top executives and asserted: "You know, it's fun -- it's fun making fun of the banks. It's fun holding them up and saying they can only get -- make 500 grand a year if they're going to take federal money.

 

When are we gonna get around to looking in the mirror? Everyone out there went out and took a second mortgage to buy a big-screen TV or add a deck onto their house because they thought money was free. Nothing's free." However, at no point did Barnicle disclose that his wife, Anne M. Finucane, is the chief marketing officer and Northeast president of Bank of America, which, according to The New York Times, was among "five of the biggest companies to get help" from the Treasury Department's Troubled Asset Relief Program (TARP). According to her Bank of America biography, Finucane is also "the managing director of Bank of America's Political Action Committee (PAC)."

 

In a February 3 article, the Times reported that the "Obama administration is expected to impose a cap of $500,000 for top executives at companies that receive large amounts of bailout money, according to people familiar with the plan." According to the Times, "Executives would also be prohibited from receiving any bonuses above their base pay, except for normal stock dividends."

 

A February 4 Bloomberg News article reported that "[t]he guidelines will focus on companies that, going forward, take 'exceptional' amounts of bailout money from the Treasury, as Citigroup Inc. and American International Group Inc. have in the past. They won't be retroactive to companies that have already taken rescue money, although those companies must agree to strict monitoring and oversight."

 

A February 4 White House press release on the rule change stated: "Today, the Treasury Department is issuing a new set of guidelines on executive pay for financial institutions that are receiving government assistance to address our current financial crisis. ... The guidelines distinguish between banks participating in any new generally available capital access program and banks needing 'exceptional assistance.' ... If a firm needs more assistance than is allowed under a widely available standard program, then that is exceptional assistance." The press release added: "Banks falling under the 'exceptional assistance' standard have bank-specific negotiated agreements with Treasury. Examples include AIG, and the Bank of America and Citi transactions under the Targeted Investment Program."

 

From the February 4 edition of MSNBC's Morning Joe: (More)

 

 

Although rudimentary by current standards, the rocket used by Iran to orbit a satellite yesterday nonetheless signals a mounting capability to launch ballistic missile attacks, The New York TimesNazila Fathi and William J. Broad survey. “This may be a gloomy conclusion, but it is difficult to escape it: The countdown toward an Israeli attack on Iran’s nuclear facilities has begun,” Homeland Security Daily Wire adds. Apparently looking to impress the Obama administration, North Korea is reportedly preparing to test-launch a long-range missile capable of carrying a nuclear warhead, The Washington Post’s Blaine Harden recounts.

 

Feds: A bill passed by the House yesterday would require DHS to produce declassified threat info for state and local first responders, The Associated PressJim Abrams reports. Many posters on TSA’s Evolution of Security site use the blog to vent, “but simply having a valve for passenger angst can help dispel the image of a faceless — and heartless — bureaucracy,” National Journal’s David Herbert spotlights. “The unemployment rate is climbing, jobs are scarce and people are looking for more security. Now some are finding it, with the U.S. Border Patrol,” Seattle’s KOMO 4 NewsMatt Markovich leads. It was the National Security Agency that uncovered a 1973 plot to bomb Gotham, a scheme since linked to a Black September terrorist who is nearing release from prison, AP’s Adam Goldman and Randy Herschaft learn.

 

One Hundred Days: The House homeland honcho has requested an independent audit of security surrounding the inauguration of President Obama after questions were raised, the Post’s Aaron C. Davis recounts. “In the first real test of the Obama administration’s ability to respond to a disaster, Kentucky officials are giving FEMA good marks for its response to a deadly ice storm,” AP’s Roger Alford relates — but see Bruce Schreiner’s report to the contrary, also from AP. While immigration reform has collapsed in Congress in recent years, an expert predicts to McClatchy NewspapersGreg Gordon that DHS’s Janet Napolitano would work with “middle-of-the-road Republicans . . . to get some meaningful change.”

 

Dear ACLU Supporter,

 

We expected this to happen. President Obama’s bold first moves on Guantánamo Bay and military commissions have been met by brazen campaigns of misinformation from those who want to retain disastrous Bush administration policies.

Fox News is raising the specter of terrorists living in people’s “backyards.” Senators are saying that bringing detainees to the U.S. “will endanger American lives.” Rush Limbaugh is spreading the totally unsupported claim that 61 already-released detainees have “returned to the battlefield.” And, naysayers continue to make claims that our criminal justice system is incapable of prosecuting terrorism suspects.

They want to derail President Obama’s efforts to put an end to indefensible Bush administration practices and policies. That’s why we must get the truth out. How can you help?

Write a letter to the editor to get the facts out there and to make it clear that people all across America support President Obama’s actions to restore our nation’s commitment to justice and the rule of law.

We can’t let Gitmo apologists have the last word. By acting today, you can help counter their dangerous rhetoric.

President Obama’s executive orders were the crucial first steps. But, there is still much that needs to be done before the United States is once again a nation we can be proud of. Instead of backing down the way Rush Limbaugh and others are trying to force him to do, we need the President to follow through all the way.

That means insisting that Guantánamo Bay is shut down as soon as possible. It means making sure that the policies of the Obama administration do not allow for any form of indefinite detention. And, it means rejecting calls for a new system for prosecuting detainees. Our justice system and time-tested federal courts are fully capable of handling sensitive national security cases without compromising fundamental rights.

Help get the facts out there by writing a letter to the editor. Or, learn the facts and post on your favorite blogs or news sites .

Finally, America is headed in the right direction. We can’t afford to let irresponsible voices dominate the ongoing debate over Guantánamo Bay and detention issues.

Let’s make our voices heard until Guantánamo Bay is finally closed and every element of the Bush system of injustice is totally dismantled. Thanks for standing with us.

Sincerely,

Anthony D. Romero
Executive Director
ACLU

 

 

Senate Lacks Votes to Pass Stimulus

Senate Democratic leaders conceded that they do not have the votes to pass the stimulus bill as currently written and said that to gain bipartisan support, they will seek to cut provisions that would not provide an immediate boost to the economy. The legislation represents the first major test for President Obama and an expanded Democratic Congress, both of which have made economic recovery the cornerstone of their new political mandate. The stimulus package has now tripled from its post-election estimate of about $300 billion, and in recent days lawmakers in both parties have grown wary of the swelling cost. Moderate Republicans are trying to trim the bill by as much as $200 billion, although Democrats working with those GOP senators have not agreed to a specific figure.

http://www.ourfuture.org/sites/all/modules/daily_email/images/1px_trans.gif

Obama Draws Line on Stimulus Compromise

usatoday.com — President Obama is willing to change elements of his economic stimulus plan to meet objections in Congress, but he won't agree to increase its cost significantly or weaken its impact, his top economic adviser said. As the president conducted five television interviews to promote the $800 billion-plus package, National Economic Council Director Lawrence Summers said Obama wants to focus on the economy's needs, not the relatively small spending items Republicans have criticized. "We're focused on the pie, not the crumbs," Summers said. To back up its case, the White House provided a 50-state report estimating how many jobs would be created or saved, how many families would reap tax cuts or college tax credits, and other benefits.

http://www.ourfuture.org/sites/all/modules/daily_email/images/1px_trans.gif

500,000 Jobs Lost in January

huffingtonpost.com — Layoffs are spiking as the recession rips through the country, with retailers, banks, factories and others cutting costs ever deeper this week. It's inflicting a painful toll on workers, and there's little relief in sight. The latest round of pink slips and cost-cutting measures came on the heels of tens of thousands of layoffs ordered by a slew of companies last week alone. All told, economists, on average, estimate that at least 524,000 more jobs vanished in January alone, and some think the figure will total around 700,000. The unemployment rate — now at 7.2 percent — is expected to jump to 7.5 percent, a 17-year peak, in January when the government releases new figures.

http://www.ourfuture.org/sites/all/modules/daily_email/images/1px_trans.gif

Bailed-Out CEOs to Get Pay Cap

nytimes.com — The Obama administration is expected to impose a cap of $500,000 for top executives at companies that receive large amounts of bailout money, according to people familiar with the plan. Executives would also be prohibited from receiving any bonuses above their base pay, except for normal stock dividends. President Obama and Treasury Secretary Timothy F. Geithner plan to announce the executive compensation plan at the White House. The new rules would be far tougher than any restrictions imposed during the Bush administration, and they could force executives to accept deep reductions in their current pay. They come amid rising public fury about huge pay packages for executives at financial companies being propped up by federal tax dollars.

http://www.ourfuture.org/sites/all/modules/daily_email/images/1px_trans.gif

Bailed Out Bank Nixes Vegas Trip

hosted.ap.org — Wells Fargo & Co. abruptly canceled a pricey Las Vegas casino junket for employees after a torrent of criticism that it was misusing $25 billion in taxpayer bailout money. The company initially defended the trip after The Associated Press reported it had booked 12 nights beginning Friday at the Wynn Las Vegas and the Encore Las Vegas. But within hours, investigators and lawmakers on Capitol Hill had scorned the bank, and the company canceled. The conference is a Wells Fargo tradition. Previous all-expense-paid trips have included helicopter rides, wine tasting, horseback riding in Puerto Rico and a private Jimmy Buffett concert in the Bahamas for more than 1,000 of the company's top employees and guests.

http://www.ourfuture.org/sites/all/modules/daily_email/images/1px_trans.gif

Frank to Banks: Stop "Being Stupid"

iht.com — Warning bankers to stop "being stupid," the chairman of a U.S. House of Representatives financial oversight panel outlined a 2009 reform agenda that targets executive pay, hedge funds, predatory lenders and the troubled asset securitisation system. Major banks and Wall Street will have their hands full this year dealing with the wide-ranging legislative package that House Financial Services Committee Chairman Rep. Barney Frank said he wants to pull together by April. The Massachusetts Democrat wants to create a federal systemic risk regulator and do more to protect investors battered by the crisis in the capital markets and a deepening recession.

http://www.ourfuture.org/sites/all/modules/daily_email/images/1px_trans.gif

Auto Sales Worst in 26 Years

money.cnn.com — Auto sales tumbled 38% in January, plunging even more than expected to their worst levels since 1982 as a pullback in purchases by rental car companies became the latest problem for the troubled industry. General Motors reported that its sales plunged 49% from a year ago. Ford Motor said sales fell 39% at its Ford, Lincoln and Mercury brands, and 40% overall when including sales at Volvo, which Ford is trying to sell. Chrysler reported a 55% drop in sales. But it wasn't just the U.S. automakers reporting sharply lower sales. Toyota Motor reported a 32% decrease in its U.S. sales, while sales at Honda Motor tumbled 28%. Nissan sales fell 30%.

http://www.ourfuture.org/sites/all/modules/daily_email/images/1px_trans.gif

Democrats Boost Road Building

usatoday.com — Top Democrats hope to add $25 billion in highway and mass transit funds to President Obama's economic recovery program, despite complaints from lawmakers in both parties that the legislation already is too expensive. "Our highways are jammed. People go to work in gridlock," Sen. Dianne Feinstein, D-Calif., said Tuesday as she and Sen. Patty Murray, D-Wash., advanced their proposal. The proposed increase in highway funding would raise spending to $40 billion, reflecting complaints from lawmakers in both parties that Obama's plan doesn't do enough to relieve a backlog of unfinished projects. Mass transit programs would get a $5 billion boost, while water projects would get $7 billion more.

http://www.ourfuture.org/sites/all/modules/daily_email/images/1px_trans.gif

Transit Faces Surge and Shortfall

nytimes.com — Transit systems across the country are raising fares and cutting service even when demand is up with record numbers of riders last year. Their problem is that fare-box revenue accounts for only a fifth to half of their operating revenue — and the sputtering economy has eroded state and local budgets that the systems depend on. The billions of dollars that Congress plans to spend on mass transit as part of the stimulus bill will also do little to help these systems with their current problems. That is because the new federal money is devoted to big capital projects. Money that some lawmakers had proposed to help transit systems pay operating costs, and avoid layoffs and service cuts, was not included in the latest version.

 

No comments:

Post a Comment

Fair Use Notice: This blog may contain copyrighted material. Such material is made available for educational purposes, to advance understanding of human rights, democracy, scientific, moral, ethical, and social justice issues, etc. This constitutes a 'fair use' of any such copyrighted material as provided for in Title 17 U.S.C. section 107 of the US Copyright Law. This material is distributed without profit.