Saturday, September 06, 2008
The proposal to place both mortgage giants, which own or back $5.3 trillion in mortgages, into a government-run conservatorship also grew out of deep concern among foreign investors that the companies’ debt might not be repaid. Falling home prices, which are expected to lead to more defaults among the mortgages held or guaranteed by Fannie and Freddie, contributed to the urgency, regulators said.
The details of the deal have not fully emerged, but it appears that investors who own the companies’ common stock will be virtually wiped out; preferred shareholders, who have priority over other shareholders, may also wind up with little. Holders of debt, including many foreign central banks, are expected to receive government backing. Top executives of both companies will be pushed out, according to those briefed on the plan.
Friday, September 05, 2008
...was Andy McCain's bank.
HENDERSON, Nev.--(Business Wire)--
Silver State Bancorp (NASDAQ:SSBX), the holding company for Silver
State Bank, announced today that Andrew K. McCain submitted his
resignation today as a director on the Boards of Directors of Silver
State Bancorp and Silver State Bank, citing personal reasons.
Mr. McCain previously served as a director of Choice Bank in
Scottsdale, Arizona from 2006 to April 1, 2008 when Choice Bank merged
into Silver State Bank. Mr. McCain had been appointed to the Boards of
the Company and Silver State Bank in February, 2008 and had served on
the Audit Committee. Mr. McCain has recently been appointed Chairman
of the Greater Phoenix Chamber of Commerce, effective this month.
Breaking News 9:01 PM ET:
Government Preparing Plan to Seize Fannie Mae and Freddie Mac, Officials Say
(ht p o'neill)
...WaPo has more. They're firing the top executives which is good, though I'm not sure why common stock shareholders won't be wiped out completely. Preferred, too.
Buses on an experimental route in the Bronx are moving significantly faster thanks to a series of innovations meant to cut travel time, including having riders pay before they board, transit officials said on Thursday.
A trip from end to end on the Bx12 route that previously took close to an hour now takes about 12 minutes less, a time saving of 20 percent, said Joe Smith, New York City Transit’s senior vice president for buses.
- WASHINGTON (AP) -- An industry group says a record 9.2 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis continues to mount.
Thursday, September 04, 2008
Georgia Republican Rep. Lynn Westmoreland used the racially-tinged term "uppity" to describe Democratic presidential candidate Barack Obama Thursday.
Westmoreland was discussing vice presidential nominee Sarah Palin's speech with reporters outside the House chamber and was asked to compare her with Michelle Obama.
"Just from what little I’ve seen of her and Mr. Obama, Sen. Obama, they're a member of an elitist-class individual that thinks that they're uppity," Westmoreland said.
...since it appears some people don't know...
There isn't one job for community organizers, but generally they're advocates and mediators for people in their neighborhoods, both acting in the interest of their neighborhood in general and helping people and families at the more individual level. They work to get both city and nonprofit attention to the needs of the neighborhood, try to provide greater voice and representation for residents, they help people link up with information and programs they need, they help people deal with day to day bullshit when they get in over their heads (things like tax help, dealing with creditors, etc...). Sometimes organizing is more explicitly oriented to a specific goal, and sometimes it's just adding a bit of glue to hold a neighborhood together. People looking out for you and your neighborhood. Your local lobbyist.
The number of U.S. workers filing new claims for jobless benefits jumped by 15,000 last week, the government reported on Thursday, adding to signs of a weakening labor market.
Initial claims for state unemployment insurance benefits climbed to a seasonally adjusted 444,000 in the week ended Aug. 30 from a revised 429,000 in the prior week, the Labor Department said. Analysts polled by Reuters had forecast 425,000 claims, the same as the previously reported count for the prior week.
Wednesday, September 03, 2008
Perhaps I'm focusing on an irrelevant issue, but the presence, or non-presence, of Johnston on the stage tonight strikes me as important. It's one thing for delegates to be understanding and compassionate about the fix these two teenagers have gotten themselves into. It's another to actually celebrate it. And, given what we've learned in the last few days, if Johnston is up on stage with his girlfriend and the Palin family, and Republicans are wildly cheering, it will certainly look like they are celebrating this situation.
I don't usually engage in these scenarios, but I'll do it here. If the Obamas had a 17 year-old daughter who was unmarried and pregnant by a tough-talking black kid, my guess is if that they all appeared onstage at a Democratic convention and the delegates were cheering wildly, a number of conservatives might be discussing the issue of dysfunctional black families.
- ST. PAUL -- Alaska Gov. Sarah Palin, the Republican vice-presidential nominee who revealed Monday that her 17-year-old daughter is pregnant, earlier this year used her line-item veto to slash funding for a state program benefiting teen mothers in need of a place to live.
Just think about this one for a moment. Palin is rabidly anti-choice, wanting it to be illegal in all cases except when the mother's life is threatened. This is a program which provides housing for teen mothers "in need of a place to live," presumably due to the fact that their parents and sperm donors are somewhat less than supportive. Despite this, these young women choose (that word!) to have their babies. And the program which might give them, and their newborns, a place to live is something Palin cuts the funding for. Maybe they can go live with the bears.
PAUL, Minn. (AP) John McCain touts his running mate, Alaska Governor Sarah Palin, as a force in his battle against earmarks and entrenched power brokers.
But under her leadership, Alaska has asked the federal government for almost $300 per person in requests for pet projects this year. That's more than any other state received, per person, from Congress and runs counter to the image the GOP ticket is pushing.
Redline Communications Group Inc. ("Redline") (TSX and AIM: RDL), a leading provider of WiMAX and broadband wireless infrastructure products, today announced that Utah Transit Authority (UTA) has selected Redline's RedACCESS AN80i broadband wireless platform to provide passengers with free Wi-Fi access aboard UTA's new high speed commuter train.
Redline's AN80i point to multipoint products were deployed on 12 double-decker trains on the new 40 mile (64 km) FrontRunner commuter rail between Ogden City and Salt Lake City in Utah. The RedACCESS system was installed along the tracks at 0.5 to 2.5 mile intervals. The track-side units communicate with on-board units connected to Wi-Fi access points on each train. As the train passes along the 40 mile corridor, connections from one access point to another are handed off, providing passengers seamless high speed connectivity.
“Let me tell you: If Roe vs. Wade is overturned, the lives and health of women will be put at risk. That's why this election is so important,” says the nurse-practitioner who narrates Obama’s ad. “John McCain's out of touch with women today. McCain wants to take away our right to choose. That's what women need to understand. That's how high the stakes are.”
An announcer then claims that “as president, John McCain will make abortion illegal,” before playing an exchange on "Meet the Press" in which McCain told moderator Tim Russert that he favors “a constitutional amendment to ban all abortions.”
“We can't let John McCain take away our right to choose. We can't let him take us back,” says the ad.
Tuesday, September 02, 2008
Many liberals are belittling the choice, suggesting that as a mother of five children — including an infant with Down syndrome — she has neither the time nor the experience to become vice president.
Email and ask, politely, for him to name and quote a single liberal suggesting any such thing.
...a good window into the Villager brain was provided by Margaret Carlson when she did an "exit interview" of Thompson when he left the Senate. Here are the questions she asked, responses omitted.
CARLSON: Senator Thompson, let me ask you the sad question first. Why are you leaving us?
CARLSON: And you didn't even -- you didn't even run on term limits, and you just went into the sunset.
CARLSON: What's the tipping point in a Washington scandal?
CARLSON: Many of us in the press and many of your colleagues thought you would run for president. Your good friend, John McCain, did. You never did. Why not? And will you ever?
CARLSON: Friendship's never stopped any ambitions in Washington.
CARLSON: You were too tall...
CARLSON: Now, who are you going to miss in the Senate?
CARLSON: You can have a club.
CARLSON: Any Democrats?
CARLSON: I hold the record for watching "Law and Order," reruns in particular!
CARLSON: So I know that...
CARLSON: I've been -- I've caught a few of the ones that you're now in. Are the writers accommodating a loquacious ex-senator?
CARLSON: And you would filibuster anyway.
CARLSON: Well, now that you're in that life, you're kind of a Hollywood actor, maybe your foreign policy views will be taken seriously.
Are you and Sean Penn -- are you going to join...
CARLSON: Oh. Are you going to join Sean Penn in Baghdad?
- Republican Vice Presidential nominee Sarah Palin attempted to quietly have her daughter Bristol get married before news of her pregnancy leaked out, the NATIONAL ENQUIRER is reporting exclusively in its new issue. Palin planned for the wedding to take place right after the Republican National Convention and then she was going to announce the pregnancy. But Bristol, 17, refused to go along with the plan and that sparked a mother-daughter showdown over the failed coverup.
I try not to tell people how to parent their kids, but last night I said to Mrs. Atrios something along the lines of, "I don't know what goes on in their family, but at the very least if I had a pregnant teen daughter and I was asked to be a VP candidate I'd sit down with her and make sure that was ok."
Stein says that as mayor, Palin continued to inject religious beliefs into her policy at times. "She asked the library how she could go about banning books," he says, because some voters thought they had inappropriate language in them. "The librarian was aghast." The librarian, Mary Ellen Baker, couldn't be reached for comment, but news reports from the time show that Palin had threatened to fire her for not giving "full support" to the mayor.
When conservatives speak of freedom, what the hell are they talking about?
As part of their pushback against the charges of Lynette and Dexter Clark of the AIP, the McCain campaign says that Palin did not even attend the AIP convention in Wasilla in 1994.
For her part, Ms. Clark -- a self-employed gold miner who wants Alaska to become an independent nation -- says that the McCain campaign pushback that Pain was never part of the AIP is "hooey."
"This is like a cat covering up crap in its litter box," she says.
John McCain is the man George W. Bush was pretending to be, right down to the flight suit.
Monday, September 01, 2008
- Remember MEChA? Obama, al-Qaeda cat’s paw? Sully’s fifth column? It’s all here, folks, and it would be irresponsible not to speculate about the links between this and John McCain’s VC Manchurian Candidate problem. The only thing McCain can do to fix the situation is to literally throw Gov. Palin under the wheels of a speeding bus and then recruit Jeff Gannon to replace her. It’s the only way to keep this momentum going.
- This time, Microsoft’s opponent is Google, a familiar foe. On Tuesday, Google will release a free Web browser called Chrome that the company said would challenge Microsoft’s Internet Explorer, as well as the Firefox browser.
JUNEAU, Alaska -- Alaska Gov. Sarah Palin, the GOP vice presidential candidate, has hired a private practice attorney to defend her and members of her staff in the investigation into the firing of her public safety commissioner.
Other Republicans, especially those in the Senate and the House, will find that they simply cannot stay in support of this occupation through November 08. The White House won't like to bring the troop force down, but they will have to start that process before the election. And the Democrats will be obliged to continue to press for withdrawal. All that because of popular opinion. Democracy, for all its flaws, has one big thing going for it: the people feel empowered, and that makes their opinions valuable.
I highlight quotes like this because there has been, since after the '04 election, this weird faith in the fact that electoral politics would cause the Iraq war to magically end itself. Some things are just more powerful than popular opinion.
Sunday, August 31, 2008
When John McCain introduced Gov. Sarah Palin as his running mate Friday, her reputation as a tough-minded budget-cutter was front and center.
"I told Congress, thanks but no thanks on that bridge to nowhere," Palin told the cheering McCain crowd, referring to Ketchikan's Gravina Island bridge.
But Palin was for the Bridge to Nowhere before she was against it.
DENVER – As she walked the Pepsi Center grounds in the midst of the Democratic National Convention, Dallas Mayor Pro Tem Elba Garcia appeared convinced: Dallas should host this event in 2012.
Dallas' transportation and event capabilities, although already robust by national standards among the country's larger cities, will be even more so four years from now.
For example, the Dallas Area Rapid Transit light-rail system will have opened a third line that will include a stop at Dallas Love Field and regular service to American Airlines Center.