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Date Sent: 2009-09-06
Freedom's Phoenix Global Edition for September 6, 2009, Sunday edition |
How Safe Is My FDIC-Insured Bank Account? Uh-Oh. -- Is the FHA the Next Disaster?
Travelers Now Must Provide Airlines with Birth Date and Gender -- Obama adviser Jones resigns in controversy -- The latest from Washington: National Debt = Wealth? -- Ex-agent who ran Customs office faces cocaine smuggling charges -- An M.D.'s Plan for Legal Industry Reform -- White House Discloses 10 More Ethics Waivers for Administration Officials -- Your August Bailout Update: $393 Billion Outstanding -- The U.S. government is the NEW sub-prime lender
-- Dollar Falls on Expectation of Quick Global Economic Recovery --
BAYER AND BAXTER KNOWINGLY INFECTED HEMOPHILIAC PATIENTS WITH HIV/AIDS
TAINTED VACCINE!!
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News Link • Government
How Safe Is My FDIC-Insured Bank Account? Well here is your answer.
09-05-2009
•
BlueLoriBlogSpot
Your bank account may not be as safe as you think (or hope).I thought the FDIC has full faith and credit backing by the US treasury?
Actually, no, it does not. The language in Section 14 of the FDIC Act is clear and unambiguous (emphasis mine):
(a) BORROWING FROM TREASURY.-- The Corporation is authorized to borrow from the Treasury, and the Secretary of the Treasury is authorized and directed to loan to the Corporation on such terms as may be fixed by the Corporation and the Secretary, such funds as in the judgment of the Board of Directors of the Corporation are from time to time required for insurance purposes, not exceeding in the aggregate $30,000,000,000 outstanding at any one time, subject to the approval of the Secretary of the Treasury: Provided, That the rate of interest to be charged in connection with any loan made pursuant to this subsection shall not be less than an amount determined by the Secretary of the Treasury, taking into consideration current market yields on ou
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News Link • Obama Administration
Is FHA the Next Disaster?
09-05-2009
•
Wall St. Pit
We’ve seen this rodeo before, haven’t we. Someone starts raising questions about the quality of a loan portfolio and the capital standing behind it, a lot of confusing numbers get thrown around by the institution in question as it assures us all that nothing bad could happen and you know the rest of the story. One would hope that this would lead to a proper investigation by Congress in which the real economic risk is quantified but don’t count on it.
The reality is that FHA has always taken too much risk Even though the housing crisis has pretty well documented that no or low downpayment loans are a prescription for a disaster, FHA continues to make them. Though ostensibly they require a 3.5% downpayment, there are any number of ways around that. The $8,000 tax credit has only exacerbated the problem. Many local government programs allow for the tax credit to be used for a downpayment. Moreover, FHA allows for downpayment gifts from family members and certain other parties. It doesn’t
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News Link • Police State
Travelers Provide Airlines with Birth Date and Gender Starting Saturday
09-05-2009
•
www.securitymanagement.com
Starting September 1st, some travelers will begin providing their birth date and sex when booking their airline reservations.
It's the second part of the government's phased-in program, Secure Flight,
to match passengers' names against the government's terrorism watch
list. Earlier in the summer, when passengers booked their online travel
they had to provide the airline with exactly how their name appears on
their government-issued identification card"whether it be a driver's
license or a passport.
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Ernest Hancock
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News Link • Federal Reserve
Don’t Kill the Goose that Laid the Golden Egg
09-05-2009
•
Wall St. Pit
As the Lehman anniversary approaches, defenders of the financial sector struggle into position " partly in response to your comments (also here). They offer three main points:
1. We need finance to make the economy work.
2. Financial innovation delivers value, although it’s not perfect (but what is?)
3. Don’t kill the goose that laid the golden egg.
Private sector capture of the state is bad enough, wherever it happens in the world. But when the capturers have an unparalleled ability and willingness to “tax” the rest of us, we should really be afraid.
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News Link • Obama Administration
Obama adviser Jones resigns in controversy
Environmental official had signed 9/11 petition, dispara
09-05-2009
•
MSNBC
An environmental adviser for President Barack Obama, Van Jones, has resigned amid controversy over past inflammatory statements, the White House said early Sunday.Van Jones, an administration official specializing in environmentally friendly "green jobs," has been linked to efforts suggesting a government role in the Sept. 11 terrorist attacks and to derogatory comments about Republicans.
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News Link • Federal Reserve
Alan Blinder in CFR's Foreign Affairs: The Fed's Political Problem
09-05-2009
•
Daily Paul
Comment look who is sticking their nose in the usual suspect the CFR!
Summary - As the financial crisis continues, the U.S. Congress is considering a bill that would jeopardize the independence of the Federal Reserve. This is a shame. Monetary policy should be protected from congressional politics.
In the midst of the ongoing financial crisis, Congress is now considering a bill that would subject the Federal Reserve to congressional audits. It would be a shame to let that happen.
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News Link • Federal Reserve
Editorial: Is Focus on Bank CEO Pay a Smokescreen for Federal Reserve?
09-05-2009
•
American Banking News
Now that most of the big banks took bailout money in America, that assertion has been making the rounds in an attempt to take the focus off the real causes behind the failure of the American banking system.
Of course I don’t feel sorry for the bankers in any way, as they knew this was coming when they went running to the government and Federal Reserve begging for handouts. So there’s no sympathy there from me in any way.
The moment business runs to the government to access taxpayer money, they have essentially left the free market and are moving toward fascism and socialism, which has been proven over the long term to not work.
So with many writers with socialists leanings and sympathies write about the pay of bank CEOs being the thing that led to the failure of the banking system, they’re either completely ignorant of the business of banking in general, or are being totally dishonest in their assertions.
Does this mean the any business CEO should be rewarded for terrible p
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News Link • World News
G20 will curb bank bonuses
09-05-2009
•
Telegraph
However, the summit threw out French and German proposals that each banker's bonus pot should be limited, in a decision which will be welcomed by City banks. The Financial Stability Board, an international grouping of regulators, has been tasked with devising detailed rules over bonus structures between now and the main summit. Some suspect it may go so far as to dictate certain percentages of a bank's profits which are allowed to be put towards bankers' bonuses.However, experts have warned that the crackdown will be extremely difficult to impose.
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Feature Article • Government
No wonder America is in trouble did you know that National Debt=Wealth?
Pete Stark thinks it does! Watch Congressman Pete Stark blow up when Jan Helfeld asks him why Stark believes, "the more we owe, the wealthier we are." I also wanted to tell readers about this site. where I found this video. I find so much good information on it and it is easy and free to subscribe.
http://www.chrismartenson.com/blog/daily-digest-september-5/26676
Christopher Martenson, PhD, is an American scientist who has done research in biochemistry, neurotoxicology, applied pharmacologyand in vitro techniques. He received his doctorate in neurotoxicology in the Duke University in 1994 with his thesis Acrylamide neurotoxicity: effect on neuronal growth cones and axonal fast transport, and completed a post-doctoral programme at that university in 1995"1997 where he specialised in neuronal signal transduction and transport. Martenson also holds an MBA degree from Cornell University (1998) and is a fellow of the Post Carbon Institute.[5]
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News Link • Economy - Economics USA
Guns and Butter - Dress Rehearsal For Debt Peonage
09-05-2009
•
kpfa
Yes I know it is NPR, I know it is out of Berkley but it makes a lot of good points and it describes obamas takeover by the banks. That is what a friend sent to me in an e mail. I am open minded so I thought I would listen to it and having heard it I think it is worth your time to listen to it too. If you understand what NWO (own) is really all about (Fascism) I think this helps describe how they plan to get there.
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News Link • Corruption
Ex-agent who ran Nogales ICE office faces drug charges
09-05-2009
•
Arizona Daily Star
A former high-ranking U.S. Immigration and Customs Enforcement
agent who had worked in Nogales, Ariz., and had a residence in Green
Valley has been arrested on suspicion of cocaine smuggling charges.
The suspected criminal activity that Richard Padilla Cramer has
been charged with occurred in 2007 while he was working as an
Immigration and Customs Enforcement agent in Guadalajara, Mexico,
according to a criminal complaint issued on Aug. 28 by the U.S.
Attorney's Office in Miami.
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Terry Bressi
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News Link • Obama Administration
Mark Lloyd, the FCC Diversity Czar
9/4/09
•
GasdenLiveFree
Mark Llyod is the “Chief Diversity Officer” (whatever the hell that is) for the FCC. Otherwise known as the “Diversity Czar” in libertarian circles, Mr. Lloyd is on video record praising the Hugo Chavez Regime in Venezuela (Happy Global Anti-Chavez day, by the way!) and their handling of opposition over the airwaves…More
Yeah… this guy is being given power within the FCC to reconstruct the way radio and TV operate. Is there any guess as to his intent? He’s looking to silence ANY and ALL opposition to the administration over the air… and he’s not at all trying to hide it.
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Anonymous Watchman
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News Link • Federal Reserve
Fed Profits From the Bailout? Don’t Count Those Chickens Before They Hatch
09-03-2009
•
Wall St. Pit
There are three fundamental problems with these stories. The first is that it raises a question about the function of the Fed: should a branch of government seek profits at the expense of the private sector? It is ironic that Euroland’s regulators are calling for much more radical steps than Washington is willing to take. German Chancellor Angela Merkel and French President Nicolas Sarkozy are calling for more regulation and for limits on executive compensation even as the Obama administration continues to argue that such limits would constrain the financial sector’s ability to retain the “best and the brightest”. If the bozos that created this crisis are the best that Wall Street can find, it would be better to shut down the US financial system than to keep them in charge. It is doubly ironic that Nigeria (a country that normally would not come immediately to mind as a role model) has actually charged the leadership of five of its major banks with crimes. Each of these banks had recei
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News Link • Healthcare Industry
A Doctor's Plan for Legal Industry Reform
My modest proposal to rearrange how lawyers do busine
09-05-2009
•
WSJ
Since we are moving toward socialism with ObamaCare, the time has come to do the same with other professions"especially lawyers. Physician committees can decide whether lawyers are necessary in any given situation.
At a town-hall meeting in Portsmouth, N.H., last month, our uninformed lawyer in chief suggested that we physicians would rather chop off a foot than manage diabetes since we would make more money doing surgery. Then President Obama compounded his attack by claiming a doctor's reimbursement is between "$30,000" and "$50,000" for such amputations! (Actually, such surgery costs only about $1,500.)
Physicians have never been so insulted. Because of these affronts, I will gladly volunteer for the important duty of controlling and regulating lawyers. Since most of what lawyers do is repetitive boilerplate or pushing paper, physicians would have no problem dictating what is appropriate for attorneys. We physicians know much more about legal practice t
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News Link • Obama Administration
White House Discloses 10 More Ethics Waivers for Administration Officials
09-05-2009
•
ABC
Calling President Obama's Executive Order on Ethics for Executive Branch personnel "the strongest ethics standards in U.S. government history," White House counsel Norm Eisen on Friday announced 10 more waivers for Obama administration officials.The waivers will allow the officials to participate with persons with whom and entities with which "the appointees formerly had a professional relationship," Eisen wrote, "because there was a compelling public interest in allowing it." * Associate Deputy Secretary of Labor Naomi Walker; Walker was Director of State Government Affairs for the AFL-CIO but has been permitted to communicate with that organization because, the Obama administration decided, prohibiting her from doing so would be detrimental to the Department of Labor and the AFL-CIO's 11 million members. She is still prohibited for the next two years to participate in any matter having to do with regulations or contracts involving the AFL-CIO.
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News Link • Obama Administration
Van Jones: 'Resist' against police
9/04/09
•
Worldnet Daily
Anti-cop mission drawn up by Black Panther group
snip) Van Jones, President Obama's controversial environmental adviser, signed a petition calling for nationwide "resistance" against police, accusing them of using the 9/11 attacks to carry out policies of torture.
The petition was organized by the October 22nd Coalition, an anti-police organization whose mission statement was drawn up by leaders of the radical Black Panther Collective for Social Progress.
The movement organizes yearly national anti-police demonstrations, accusing police of "brutality, detentions, domestic spying, profiling and other attacks on human and civil liberties." The protests are held under the banner of the National Day of Protest to Stop Police Brutality, Repression and the Criminalization of a Generation." More;
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Anonymous Watchman
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News Link • Obama Administration
Et tu, Barack?: Czar 'continues to work for administration'
9/04/09
•
Worldnet Daily
Non-ringing endorsement starts countdown for Van Jones' exit from 'green jobs' post
snip) WND's Klein first reported Jones was an admitted radical communist and a self-described "rowdy black nationalist" and that in 2005 he boasted in an interview that his environmental activism was actually a means to fight for racial and class "justice."
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Anonymous Watchman
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News Link • Corruption
Mike Morgan Spends a Few Minutes on Goldman Sachs with Max Keiser
09-05-2009
•
Goldman Sachs 666
Here are a couple of videos Max Keiser just posted from a brief chat we had this week. I must keep repeating . . . Wake Up America. Today is another example. As I write this, it is Friday afternoon and the financial markets are being driven higher . . . even though we just saw the worse unemployment numbers yet AND the numbers were worse than anyone predicted.What is happening now is a wholesale raping of America as Goldman Sachs and the Banksters stuff pension funds, mutual funds, IRAs and consumer accounts with overpriced stock that Goldman Sachs ran up to hyper-inflated levels . . . with taxpayer bailout money.When the markets correct, Goldman Sachs and the league of Banksters will be shelling out billions in bonuses as you realize how it feels to be beaten up, financially raped and tossed in the gutter. And you'll feel worse, when you realize you still have to come up with the two trillion dollars these thugs have stolen out of the system.
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News Link • Government
Your August Bailout Update: $393 Billion Outstanding
09-05-2009
•
ProPublica
There’s no question that the taxpayer remains deep in the red.
In total, $392.6 billion remains outstanding to 641 recipients ($297 billion under the TARP and $95.6 billion that’s gone to Fannie and Freddie). That total excludes the 35 companies that have returned a total of $71.6 billion.
In August, the Treasury invested $129.8 million in nine banks (see our timeline for more details). It also put $10.7 billion more into Fannie Mae.
The Treasury will likely invest or spend billions more. Fannie and Freddie will probably need billions more in assistance. And two major bailout programs have yet to start shelling out committed funds. Treasury plans to use up to $30 billion for its toxic securities program, which could begin this month. It has also set aside $50 billion for its mortgage modification program, which is already well underway. Under the program, participating loan servicers are only paid subsidies if the loans they modify survive a three-month trial period without defa
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Feature Article • Government
The Democrats and Obama helped create this Financial Crisis and are now creating another
The Democrats and Obama helped create this Financial Crisis and are now creating another. Most people are led to believe that the fault for the current crisis rests totally on the banks. Yes they are major contributors especially since they mixed this poison throughout the financial system of the entire world.
However if you watch Cops like they say there is his side, her side and the truth lies somewhere in the middle. In that vein lets examine what led to the implementation of the crisis.
Back in 2005, Fannie and Freddie were, after years of dominating, on the ropes. They were enmeshed in accounting scandals that led to turnover at the top. At one telling moment in late 2004, captured in an article by my American Enterprise Institute colleague Peter Wallison, the Securities and Exchange Comiission's chief accountant told disgraced Fannie Mae chief Franklin Raines that Fannie's position on the relevant accounting issue was not even ``on the page'' of allowable
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News Link • Healthcare
YOU ARE DANGEROUS IDIOTS WHO RUIN THE LIVES OF INNOCENT PEOPLE. (send this to your O-bot Friends)
09-05-2009
•
http://www.Swamp-Ass.com
Let's get this straight, I am free to work, make money, but YOU & Obama decide how and where MY money is spent? Am I too stupid to do this myself? I work and you confiscate my money for your charities and to right your percieved injustices? Good thing your righteous kind has delivered itself upon this planet for our salvation, we are indebted. funny how this arrangement just happens to make me YOUR SLAVE and conveniently makes you and your brand of ilk the slavemasters? Your kindness and generosity is so convenient. IT MAKES ME SICK TO MY STOMACH. You've just reinvented the Politburo, a democratic dictatorship.
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Kaptain Steve
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News Link • Healthcare
NEWS Video: BAYER AND BAXTER KNOWINGLY INFECTED HEMOPHILIAC PATIENTS WITH HIV/AIDS TAINTED VACCINE!!
8/24/09
•
Youtube
Anyone remember this? Baxter is the company making the swine flu vaccine. Lets hope it is safe, hey!
The WHO and our Governments allowing BAXTER to make the vaccine is IN MY MIND LIKE LETTING CHARLES MANSON BABY SIT YOUR KIDS.
TOTAL MADNESS, THEY MUST HAVE BEEN PAID TO KEEP QUIET OR THEY ARE IN ON IT TOO. More..Video:
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Anonymous Watchman
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News Link • Obama Administration
U.S. government the NEW sub-prime lender
09-05-2009
•
Seeking Alpha
Old habits are hard to break. When the NASDAQ tech-bubble burst, the U.S. government and Federal Reserve Chairman “Bubbles” Greenspan created an even bigger asset-bubble to replace it (the U.S. housing bubble). It was characterized by a 1% “benchmark” interest rate, ridiculously lax lending standards, rampant fraud " and non-existent oversight.
By refusing to allow its economy to purge itself of bad debt and excessive credit, the U.S. government created a much more damaging bubble " aggravated by Wall Street's multi-trillion dollar, global Ponzi-scheme.
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News Link • Activism
Council gets an earful on G-20 rules
09-05-2009
•
Pittsburgh Post-Gazette
Proposed new rules meant to help police handle G-20 protests faced a
barrage of verbal rotten eggs at a Pittsburgh City Council
public hearing, and appear to be headed for a close vote.
The hearing was held to get views on rules that would allow police
to cite people wearing masks or carrying items from pipes to
high-powered rifles if they appear intent on thwarting police dispersal
orders. It became an outlet for concern about what some called the
pending militarization of Downtown, and what others characterized as
the demonization of protest.
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Powell Gammill
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News Link • Obama Administration
U.S. Recovery Leaving Workers Jobless May Spur Company Profits
09-05-2009
•
Bloomberg
The preconditions for gains in payrolls, including giving the army of part-timers longer hours and taking on additional temporary employees, weren’t met last month. At the same time, with economic growth forecast to resume this quarter, the figures set the stage for a surge in worker productivity and drop in labor costs that will stoke corporate profits.
“It’s disappointing and it tells us that we are not quite there yet,” said Michael Feroli, an economist at JPMorgan Chase & Co. in New York who used to work at the Federal Reserve. “It’s great for business and terrible for households” for coming months, Feroli said.
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News Link • Currencies
Dollar Falls on Bets Investors Seek Higher Yields as G-20 Meets
09-05-2009
•
Bloomberg
The dollar dropped against most of its major counterparts on speculation investors betting on a quick recovery in the global economy bought higher-yielding assets as Group of 20 finance ministers convened.
The Brazilian real and South African rand posted the biggest advances against the greenback among the most-traded currencies this week as U.S. employers slowed the rate of job cuts in August. Treasury Secretary Timothy Geithner reaffirmed his commitment to supporting the economy before conferring with G-20 officials in London. The U.S. government is scheduled to sell a combined $70 billion in notes and bonds next week.
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News Link • Economy - Economics USA
Five More U.S. Banks Are Seized, Pushing Total for Year to 89
09-05-2009
•
Bloomberg
Lenders in Illinois, Iowa, Missouri and Arizona collapsed, pushing the number of bank failures to 89 this year amid continuing fallout from the worst economic slump since the Great Depression.
Illinois lenders InBank of Oak Forest and Platinum Community Bank of Rolling Meadows; Vantus Bank of Sioux City, Iowa; First Bank of Kansas City, Missouri; and First State Bank of Flagstaff, Arizona were shut by regulators, and the Federal Deposit Insurance Corp. was named receiver, the agency said in statements yesterday. Closing the lenders, with combined assets of $1.1 billion and deposits of $982 million, will cost the deposit insurance fund about $401 million.
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News Link • Government
69th Bomb Squadron reactivates at Minot AFB
09-05-2009
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Minot AFB
he 69th Bomb Squadron was reactivated during an activation ceremony here Sept. 3. "This adds flexibility to the Air Force Global Strike Command mission," said Maj. William L. Byers 5th OG Det. 1, Chief of Standard Evaluations."The 69th allows for an even distribution of operations tempo between the 2nd Bomb Wing and 5th BW, and at the same time supports the persistent presence in United States Pacific Command," he added. This will help refine and focus nuclear mission training for B-52 units and is part of continued Air Force efforts to reinvigorate the Nuclear Enterprise.
The United States Air Force has a legacy of providing strategic capabilities as stewards of the nuclear enterprise, and is committed to conducting safe, secure and reliable nuclear operations.
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News Link • WAR: About that War
Is the Taliban on the U.S. Gov. Payroll?
09-05-2009
•
CBS News
A portion of
American taxpayer dollars slated for development projects in
Afghanistan is alleged to end up in the hands of the Taliban, the
GlobalPost reports. The United States Agency for International
Development is investigating if its funds are being used by contractors
to pay the Taliban for protection " from itself.
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Jim Stachowiak
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News Link • Martial Law
Fort Lee Troops And Police Take On Protesters in “Anti-Terrorism” Drill
09-05-2009
•
WTVR
FORT LEE - Some of the soldiers meeting today’s tough military standards put their skills to the test this morning at Fort Lee.It’s part of a three day long anti-terrorism drill. The Army post staged a fake protest to show how well soldiers and Fort Lee Police are equipped handle the situation.
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Jim Stachowiak
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