Post Scripts

by Jack

A recent study says most of the banking executives that presided over the subprime mortgage and housing meltdown are still on the job and still drawing mega salaries.

CEO John Thain from Merrill Lynch was put on the spot when asked by reporters why he spent 1.2 million on his office renovations when his company was going broke. His response was, he found it difficult to work in the old office inviroment. Thain is one of the few that is now unemployed. Bank of America purchased the bankrupt Merrill Lynch brokerdage firm with bailout money, but can’t justify why, a stockhold class action suit has now been filed against B of A’s CEO.

by Jack Lee

Unemployment: And it just gets worse… 50 states and the District of Columbia recorded unemployment rate increases compared with the previous month and the year prior period, the Bureau of Labor Statistics of the U.S. Department of Labor reported. The report marked the first time every state recorded a rise in monthly unemployment since the bureau began keeping such records in 1976. The national unemployment rate rose to 7.2% in December, up from 6.8% the previous month and from 4.9% a year earlier.

Continue reading “Recession Details Updated” »

Posted by Tina

The economy is in the crapper. Americans have lost savings, homes, and jobs. In the midst of this economic meltdown American car manufacturers were deemed so essential to our survival that they had to be given large sums of cash. Our Congress was certain it was absolutely necessary. So after throwing all that money at them in the hopes that it would turn the industry around, save jobs, and help the economy what does the new change president do?

**
Continue reading “Anything But Stimulating” »

Posted by Tina

Please read this terrific article about the foolish way government tackles recessions:

‘Stimulus’ Plan Is Really About Enlarging Gov’t, by Thomas Sowell – IBD

** Spending money for infrastructure is another time-consuming way of dealing with what is called an immediate crisis. Infrastructure takes forever to plan, debate and go through all sorts of hearings and adjudications before getting approval to build from all the regulatory agencies involved. *** Out of $355 billion newly appropriated, the Congressional Budget Office estimates that only $26 billion will be spent this fiscal year and only $110 billion by the end of 2010. *** Using long, drawn-out processes to put money into circulation to meet an emergency is like mailing a letter to the fire department to tell it that your house is on fire. **

To this day, we are still subsidizing millionaires in agriculture because farmers were having a tough time in the 1930s.

Posted by Jack

Remember those great old western’s where the good guy always won, where right was right and wrong was wrong, where it was action packed and not a cuss word was heard?

If you’re over 50 click here, I’ve got something you need to see and I promise you won’t regret it. CLICK HERE.

Posted by Tina

The following article by the editors at National Review, A False Move on Gitmo offers another perspective on the situation that Guantanamo presents and the empty executive order that President Obama recently signed.

** The executive orders President Obama signed Thursday regarding the detention and interrogation of detainees in the War on Terror reflect an emerging Obama style: What is said is more rhetorical than illuminatingand what is most important is left unsaid. *** Take Guantanamo Bay, the oft-maligned subject of the first order. In announcing the closure of the prison there, the president forcefully asserted that he was following through on a campaign commitment. But the order only promises that the facility will be closed within a yeara nonbinding deadline Obama could extend simply by signing another order. Thats not exactly the immediate shuttering his antiwar base was clamoring for, and such delay would be intolerable if Obama really believed Gitmo were the travesty he has portrayed it as. *** Moreover, the physical facility itself is of only symbolic importance. The underlying question is what to do with the detainees held there. On that, the executive orders tell us precious little. **