Friday
May062011
May 6, 2011 at 2:20 PMFriday
May062011
Friday
May062011
Friday
May062011
Senator: No Debt Ceiling Hike Without A Balanced Budget
The boldest plan to rein in spending and debt comes from newcomer Sen. Mike Lee (R-Utah), a Tea Party favorite who dispatched Republican incumbent Bob Bennett in the primaries before coasting to victory in the general election last fall. Lee has vowed to block passage of a debt-limit increase unless Congress signs on to his balanced-budget amendment which would cap annual federal spending at 18 percent of Gross Domestic Product (GDP). The amendment would require a super-majority of two-thirds in the Senate and House of Representatives. Lee’s bill is competing with another Republican proposal from Sens. Hatch (Utah) and Cornyn (Texas) to cap spending at 20 percent of GDP. The Hatch-Cornyn bill has weaker rules on its higher cap as well.
Friday
May062011
Wife: We're $14 Trillion In Debt; Husband: We Need More Credit Cards
Excellent work from Nick Gillespie at Reason TV.
Friday
May062011
Mike Capuano's Bank CEO Beatdown: "I'm Amazed That None Of You Have Been Prosecuted Yet!" (VIDEO)
Video: Rep. Mike Capuano takes on bailed-out bank CEOs - Flashback
Jamie Dimon, Lloyd Blankfein, Ken Lewis, John Thain, Vikram Pandit sit slack-jawed. Start watching at the 1:20 mark. Part of this clip was included in Charles Ferguson's Oscar-winning Inside Job.
- "Basically you come to us today on your bicycles, after buying Girl Scout cookies and helping out Mother Theresa."
Friday
May062011
Bush's Latest Communique On Bin Laden From Sizzler
Will Farrell's Funny or Die - Bush remarks from a Sizzler steakhouse in Texas.
He has personally overseen a 'strategic and covert operation.'
Friday
May062011
Keith McCullough: "Geithner Has Dollar Problems"
Video - Keith McCullough - May 3, 2011
- Dollar up most on euro since January after Trichet
- Market-manipulation mutterings intensify
- Rate hike needed by year-end: Minneapolis Fed President
- Gold Hits Air Pocket
- Super rich love to bet on commodity inflation
- Professor: Drop Crisis States from Euro
- Donald Trump Extensive Lawsuit History
- LIST - 10 worst corporate reputations
- Have lying mortgage bankers met their match?
- Bernanke: Regulators Must Avoid Rules That Are ‘Burdensome’ to Banks
- Real compensation per hour, which adjusts for inflation, fell by 2.5% - the biggest decline since the third quarter of 2008...
- Shock as Catholic bishop who brokered multi-million dollar sex abuse settlement is found GUILTY of importing child porn
Thursday
May052011
Big fish, little fish: Why the executives behind the financial crisis aren’t facing jail time but Charlie Engle is serving 21 months for a liar loan
Video - Joe Nocera on PBS Need to Know - April 30, 2011
New York Times columnist Joe Nocera discusses the case of Charlie Engle, one of the "little fish" who went to jail for lying on a mortgage application, while many of the "biggest fish" responsible for the financial crisis have escaped prosecution.
Thursday
May052011
WSJ Interactive Map - Food Stamp Use By State (14.3% Of U.S. Residents Benefit From Program)
Click map to go to the WSJ interactive feature...
Growth in the food stamp program appeared to reach a plateau in February — with 14.3% of the population relying on the safety net program.
The number of food stamp recipients was essentially flat in February, the most recent month available, with 44.2 million Americans receiving benefits, according a new report from the U.S. Department of Agriculture.
Wednesday
May042011
South Carolina Supreme Court Halts Foreclosures
The South Carolina Supreme Court halted pending foreclosures Tuesday and instated a mandatory foreclosure intervention program.
Chief Justice Jean Toal wrote in an administrative order that any foreclosure cases pending as of May 9 may not be subject to foreclosure or a foreclosure sale before going through a mediation program. Foreclosure intervention will also be mandatory for any foreclosure cases filed after that date.
South Carolina is a judicial foreclosure state, meaning each individual case must go through the court system to be valid. Toal is hoping mediation will relieve some of the burden foreclosure volumes are causing to the court system.
Wednesday
May042011
Brother, Can You Spare A Trillion?
Interest on the debt is an ugly beast says Government Gone Wild...