Thursday, July 16, 2009

The Republican questioning of Sotomayor suggest they are less interested in having a fair judge on bench than playing politics. In particular, they are playing the kind of race politics that they showed during the last campaign and continue to show today in their attacks on President Obama. It is the politics of scapegoating and stereotyping.

I heard Pat Buchanan, a well known racial provocateur, calling Sotomayor a extremist and product of affirmative action. He dismissed all academic credentials as essentially having been given to her. In essence, he was arguing that her nomination was totally political. She is essentially a foot soldier in Obama's cultural war. This is how this bigot thinks, Buchanan. He also thinks Sarah Palin would make a great President.

This is how narrow minded the Republicans/Conservatives are.
Sent from my Verizon Wireless BlackBerry

JP Morgan Quarterly Profits Jump 36%

Good to hear some banks are doing well. But what about the rest of the economy? This proves that the bailout of Wall St. was first about protecting big business and secondly the economy.

JP Morgan reported record revenues in the second quarter on Thursday on soaring investment banking fees and a strong performance from its commercial banking business.

The US bank’s earnings beat analysts’ most bullish expectations, jumping 36 per cent and producing net income of $2.7bn, or 28 cents a share, compared with $2bn, or 53 cents, in the same quarter the prior year.

Revenues climbed by 41 per cent in the quarter to a record $27.7bn. This was driven by $7.3bn from JP Morgan’s investment banking division, which saw fees soar grow by 29 per cent. Retail banking revenues climbed 44 per cent to $970m on higher deposit-related fees and balances and gains from its acquisition of Washington Mutual.

Related Link:
- Goldman Sachs Posts Record Profits