You are currently browsing the tag archive for the '2008 election' tag.
Failing investment, insurance, and financial giants are selling themselves like no tomorrow. As if our housing crisis (so many foreclosures) wasn’t enough – there goes our national economy. The next president has a lot of work to do.
On the up side, Bank of America, now has largest brokerage in the world after the acquisition of Merrill Lynch. I’m glad that my bank is doing well, unlike WaMu), for example. Anyway, here is the month of September, as presented by a selection of Breaking News Alerts from the The New York Times.
—–
Wednesday, September 17, 2008
Stocks Plunge; Dow Off Nearly 450 Points
Stocks fell sharply as the Federal Reserve’s rescue of the giant insurer A.I.G. failed to calm jittery financial markets; prices for Treasury bills, gold and oil rose sharply.
—–
Tuesday, September 16, 2008
Fed to Give A.I.G. $85 Billion Loan and Take 80% Stake
In an extraordinary turn, the Federal Reserve agreed Tuesday to take a nearly 80 percent stake in the troubled giant insurance company, the American International Group, in exchange for an $85 billion loan.
—–
Tuesday, September 16, 2008
Fed Leaves Key Interest Rate Unchanged
The Federal Reserve said the strains on the financial markets have increased significantly, but it kept its key short-term interest rate unchanged at 2 percent.
—–
Monday, September 15, 2008
News Alert: Dow Closes Down More Than 500 Points
The Dow Jones industrial average fell more than 500 points on Monday in the first day of investor reaction to some of the most dramatic developments in the history of high finance.
—–
Monday, September 15, 2008
Crude Oil Declines, Trading Below $100
After more than six months in triple-digit territory, oil prices dropped sharply, falling under the symbolic $100-a-barrel threshold as financial woes raised concerns about slowing oil demand.
—–
Monday, September 15, 2008
Dow Falls 300 Points Within Minutes of Opening
The Dow Jones industrials fell more than 300 points shortly after the open as the markets reacted to turmoil at major Wall Street investment banks.
—–
Monday, September 15, 2008
Lehman Brothers Announces It Will File Chapter 11 Bankruptcy
Lehman Brothers, the storied Wall Street securities firm, announced on its Web site early Monday that it will file for Chapter 11 bankruptcy protection.
—–
Sunday, September 14, 2008
A.I.G. Seeks $40 Billion in Fed Aid to Survive
The American International Group is seeking a bridge loan from the Federal Reserve as it faces a potential downgrade from credit ratings agencies.
—–
Sunday, September 14, 2008
Bank of America in Talks to Buy Merrill Lynch
Bank of America is in advanced talks to buy Merrill Lynch for $25 to $30 a share, people briefed on the negotiations said on Sunday.
—–
Wednesday, September 10, 2008
Lehman Sees $3.9 Billion Loss and Plans to Shed Assets
The struggling investment bank Lehman Brothers said that it would report a $3.9 billion loss for the third quarter and would sell a majority stake in its investment management unit as it struggles to stay afloat.
—–
Monday, September 8, 2008
U.S. Takeover of Mortgage Giants Lifts Markets
Following rallies in Asia and Europe, the Dow Jones industrial average jumped more than 340 points, or about 3 percent, within two minutes of opening.
—–
Friday, September 5, 2008
Government Preparing Plan to Seize Fannie Mae and Freddie Mac, Officials Say
Senior officials from the Bush administration and the Federal Reserve informed top executives of Fannie Mae and Freddie Mac, the mortgage-finance giants, that the government is preparing a plan to seize the two companies and place them in a conservatorship, officials and company executives briefed on the discussions said.
—–
Friday, September 5, 2008
Economy Shed 84,000 Jobs in August; Unemployment Rate Jumped to 6.1%
The government said Friday that the American economy lost 84,000 private nonfarm jobs in August, the eighth straightmonth of job losses. The unemployment rate jumped to 6.1 percent in August, the highest in nearly five years. Both figures were worse than economists had forecast.
(Anne) Kilkenny sent out an e-mail earlier this week to friends and family answering, from her perspective, the question Outsiders are asking any Alaskan they know: “Who is this Sarah Palin?”
[Palin asked Wasilla librarian about censoring books via the Boston Herald]
I urge you to read the letter wrote on the Mayor-turned-Governor Palin that she has known:
—-
“I am a resident of Wasilla, Alaska. I have known Sarah since 1992. Everyone here knows Sarah, so it is nothing special to say we are on a first-name basis. Our children have attended the same schools. Her father was my child’s favorite substitute teacher. I also am on a first name basis with her parents and mother-in-law. I attended more City Council meetings during her administration than about 99% of the residents of the city…”
“She has bitten the hand of every person who extended theirs to her in help. The City Council person who personally escorted her around town introducing her to voters when she first ran for Wasilla City Council became one of her first targets when she was later elected Mayor. She abruptly fired her loyal City Administrator; even people who didn’t like the guy were stunned by this ruthlessness…”
[Excerpts from A Letter About Sarah Palin from Anne Kilkenny via Mudflats and verified by Snopes]
—-
Backing up Kilkenny’s perspective can be found in other articles such as this:
“But in the first major race of her career — the 1996 campaign for mayor of her hometown, Wasilla — Palin was a far more conventional politician. In fact, according to some who were involved in that fight, Palin was a highly polarizing political figure who brought partisan politics and hot-button social issues like abortion and gun control into a mayoral race that had traditionally been contested like a friendly intramural contest among neighbors.”
[Mayor Palin: A Rough Record via Time]
—-
An different take on Palin, from the POV of an Iranian immigrant:
“Right after the Revolution in Iran and the establishment of the Islamic Republic, the Iran-Iraq war was started…One of the problems the government faced was opposition from legions of mothers whose sons had been maimed or died in the war. To confront this problem, the government-controlled TV would parade a mother whose son had died in the war in front of the TV on a regular basis. Invariably, this “show mom” would be carrying an infant child and a few other siblings with her. And invariably, she would say something to the effect that “I have given one child to this ’sacred’ war, and I am ready to give the next one.” Almost always, there would be an adoring crowd who would follow her statements by chants…Sarah Palin was much better dressed than the average show mom paraded on Iranian TV more than 20 years ago. The show moms were typically dressed in a black veil. But that’s about the biggest difference. The rhetoric was eerily familiar. When she was finished, I knew I had seen her before. Only that it wasn’t her. It was her ideological predecessors at a different time in a different country.”
[Where Have I Seen Sarah Palin Before? by Arash Kamangeer]
—-
John McCain is a good man and a great Republican nominee for the presidency, but there’s just something that doesn’t ring true about his Vice Presential pick, Sarah Palin. I’ve had a bad feeling about her from the very start.
I think that Palin, as a politician or simply as a representative “media image”, attracts an interesting base of voters. All the frenzy & hoopla surrounding her various ’scandals’ makes her an even more sympathetic figure to those voters and (for Democrats) are serving as distractions from real problems against her. I’m laughing hard now, but I’m seriously hoping that I’m not underestimating her. On the bright side, her speech from the RNC raked in about $10 million on Obama’s behalf.
—-
Excerpt of the latest Policy Alert from the American Association for the Advancement of Science:
Republican VP Pick Supports Teaching “Both Sides.” Alaska Governor Sarah Palin, Sen. John McCain’s choice for his running-mate, has expressed views on a number of issues of interest to scientists. In a televised debate during the Alaska governor’s race in October 2006, Palin, in response to a question about teaching creationism in public schools, replied, “Teach both. You know, don’t be afraid of information. Healthy debate is so important, and it’s so valuable in our schools. I am a proponent of teaching both.” As governor, Palin has opposed the federal government’s decision to list the polar bear as a threatened species because of climate change and shrinking sea ice with an op-ed in The New York Times and a suit in federal court. She believes that human activities are not responsible for global climate change, favors drilling in the Arctic National Wildlife Refuge, and opposes federal funding for human embryonic stem cell research – all positions that conflict not only with the Democratic platform but also with positions McCain has taken in the past.




