AMERICAblog: US banks may need to raise cash again in 2009
Older_Wiser
· 10 months ago
Somewhat OT, but not really, since it seems the Dems are hellbound to let us know that they, too, are part of the corporate plan for the US. I was appalled when I read this (and I live in NC):
Jan. 6 (Bloomberg) -- Virginia Governor Tim Kaine has a Harvard Law School degree, has twice won statewide office, and is fluent in Spanish. It’s a recent line on his resume that may become an issue as President-elect Barack Obama’s choice to head the Democratic Party.
Kaine, 50, is the chairman of the Southern Governors’ Association, a group that raises money from tobacco, oil, energy and pharmaceutical companies in exchange for access to governors and other state officials.
The donors include more than 60 associations, trade groups and companies, including tobacco giants Altria Group Inc. and Lorillard Tobacco Company, Pfizer Inc. and Exxon Mobil Corp. Participants in the group’s Corporate Affiliates Program also include mortgage lender Freddie Mac, which was taken over by the federal government last year, and General Motors Corp., which is among automakers being rescued by the government.
Kaine’s continuing involvement with the SGA as Democratic National Committee chief may raise questions for Obama, who targeted special interests during his campaign, vowing to end their “days of setting the agenda in Washington.”
“If Tim Kaine is going to be the head of the DNC, given Obama’s rhetoric in the past, Mr. Kaine will have to either change the rules of the SGA or step down as chairman, because the policies of the SGA appear inconsistent with Obama’s,” Melanie Sloan, executive director of the Washington-based watchdog Citizens for Responsibility and Ethics in Washington.
“Money paid to the SGA so you could have a seat with Tim Kaine would also get you a seat with the head of the DNC,” Sloan said.
Kaine’s press secretary, Gordon Hickey, said the governor plans to retain the SGA chairmanship and there’s no “move afoot to change any of the rules.” His term as governor expires next year, and he began his one-year term as SGA chairman in August.
Tommy Vietor, an Obama transition spokesman, declined to comment.
On its Web site, the association pledges corporate interests will get “special opportunities to interact with governors and their key staff.” The group’s Corporate Affiliates Program gives donors varying amounts of access --including guarantees of private sessions -- to the governors and their staff depending on how much they pay. The group won’t disclose the cost of the membership levels.
The SGA’s Web site says the group “supports the work of Southern governors by providing a bipartisan, regional forum to help shape and implement national policy and solve regional problems.”
Well, well, well. Isn't that interesting? I'm sure it's nothing that will bother any power playing politician. ☺
beware of the leopard
· 10 months ago
Pay to play? I'm shocked, just shocked.
Indigo
· 10 months ago
No one could have foreseen that the banks would need more money.
Older_Wiser
· 10 months ago
Oh yes...read up on credit default swaps, what I call the "hidden horror." It wasn't just a fluke that AIG was bailed out...
Indigo
· 10 months ago
I followed the link you posted. It doesn't look reassuring.
katiec
· 10 months ago
The financial institutions should not be given one more cent. They continued to pay their outrageous bonuses, paid 400 million for their name on a stadium, spent and wasted our tax money while thumb ing their noses at us. The fact that there was no oversight, stipulations on how the funds were used, is another indication of what the republicans stand for. Big business, screw middle class America. Thank God it is about to end. That is if we can get the "right" to, for once, put country before party.
EmGD
· 10 months ago
I think we're a few months from banks just saying "Print more money and ship it over, we need it for another vague reason. There will be no inflation problems." Then I can finally use a wheelbarrow full of money to buy a loaf of bread like I always wanted. God I love our financial industries.
You'd think the loan-sharking on the credit cards would be enough to fund even the most inefficient organizations.
Apparently not.
tbhull
· 10 months ago
Of course the government will unload a few more trillion of US taxpayer dollars off on these failures.
Do I hear taxpayer gripes? Get back to work you fucking peons.
Older_Wiser
· 10 months ago
I love that banner ad up at the top...a source of amusement. $500K in your portfolio? Hell, I don't even have a $5 portfolio. I'm sure old Ken Fisher has some scheme to get your money...
tbhull
· 10 months ago
OT -
Are top Senate dems split on seating Burris? Harry says no while the AP reports other dems appear to say yes. Is Harry losing his grip on power?
Just had my credit card interest rates jacked up 4%. Where is all this money going?
antarctica
· 10 months ago
Let me see if I understand this correctly...the same banks we just gave nearly $700 million to need more money? The same banks that ended up using a lot of the money given to them for lavish vacations and bonuses for their corporate executives? The same banks that then turned around and jacked up the rates on everyone's credit cards? The same banks that gave Congress the finger when they asked where the money went? And now they want more?
Unfuckingbelievable - the balls of some of these people...
Bubbles
· 10 months ago
Just because Bush leaves on January 20th, doesn't mean the United States has survived him.
If the country, and its economy are still standing in fine fashion in 2060, then we can say we've survived him.
In the meantime the hole situation could melt down. An unrelenting economic melt down could mean that the union could be dissolved as soon as 2012.
beachboi
· 10 months ago
Tax payer money would be better spent at this point by spreading the wealth around to other industries. Financials have had enough. I do think we ought to bailout the "porn" industry, or adult entertainment as it should be referred to. Larry Flynt has raised this issue and porn is one of the last few remaining quality products produced in the U.S.
All Comments
Jan. 6 (Bloomberg) -- Virginia Governor Tim Kaine has a Harvard Law School degree, has twice won statewide office, and is fluent in Spanish. It’s a recent line on his resume that may become an issue as President-elect Barack Obama’s choice to head the Democratic Party.
Kaine, 50, is the chairman of the Southern Governors’ Association, a group that raises money from tobacco, oil, energy and pharmaceutical companies in exchange for access to governors and other state officials.
The donors include more than 60 associations, trade groups and companies, including tobacco giants Altria Group Inc. and Lorillard Tobacco Company, Pfizer Inc. and Exxon Mobil Corp. Participants in the group’s Corporate Affiliates Program also include mortgage lender Freddie Mac, which was taken over by the federal government last year, and General Motors Corp., which is among automakers being rescued by the government.
Kaine’s continuing involvement with the SGA as Democratic National Committee chief may raise questions for Obama, who targeted special interests during his campaign, vowing to end their “days of setting the agenda in Washington.”
“If Tim Kaine is going to be the head of the DNC, given Obama’s rhetoric in the past, Mr. Kaine will have to either change the rules of the SGA or step down as chairman, because the policies of the SGA appear inconsistent with Obama’s,” Melanie Sloan, executive director of the Washington-based watchdog Citizens for Responsibility and Ethics in Washington.
“Money paid to the SGA so you could have a seat with Tim Kaine would also get you a seat with the head of the DNC,” Sloan said.
Kaine’s press secretary, Gordon Hickey, said the governor plans to retain the SGA chairmanship and there’s no “move afoot to change any of the rules.” His term as governor expires next year, and he began his one-year term as SGA chairman in August.
Tommy Vietor, an Obama transition spokesman, declined to comment.
On its Web site, the association pledges corporate interests will get “special opportunities to interact with governors and their key staff.” The group’s Corporate Affiliates Program gives donors varying amounts of access --including guarantees of private sessions -- to the governors and their staff depending on how much they pay. The group won’t disclose the cost of the membership levels.
The SGA’s Web site says the group “supports the work of Southern governors by providing a bipartisan, regional forum to help shape and implement national policy and solve regional problems.”
More at Bloomberg.com
The fact that there was no oversight, stipulations on how the funds were used, is another indication of what the republicans stand for. Big business, screw middle class America. Thank God it is about to end. That is if we can get the "right" to, for once, put country before party.
http://thesebastards.blogspot.com/
Apparently not.
Do I hear taxpayer gripes? Get back to work you fucking peons.
Are top Senate dems split on seating Burris? Harry says no while the AP reports other dems appear to say yes. Is Harry losing his grip on power?
Bush lied again. This time to Obama and family.
http://www.youtube.com/watch?v=p9l1RIeKa3o&eurl...
That's how you break a bad habit.
Just had my credit card interest rates jacked up 4%. Where is all this money going?
Unfuckingbelievable - the balls of some of these people...
If the country, and its economy are still standing in fine fashion in 2060, then we can say we've survived him.
In the meantime the hole situation could melt down. An unrelenting economic melt down could mean that the union could be dissolved as soon as 2012.