Wednesday, October 14, 2009

Wall Street On Track To Award Record Pay

This is an utter outrage. And it is definitive proof that the U.S. government is in the back pocket of Wall St. If this isn't a call for rebellion on the part of American people against the two-party system, then I don't know what is.

in reference to:

"Major U.S. banks and securities firms are on pace to pay their employees about $140 billion this year -- a record high that shows compensation is rebounding despite regulatory scrutiny of Wall Street's pay culture."
- Wall Street On Track To Award Record Pay - (view on Google Sidewiki)

Senate Takes Aim at Insurance 'Monopoly'

This should have been done sooner, and first. It could be the single greatest cause of what is wrong with health care in America. Let's see whether the Congress has the you-know-what to do anything about it.

in reference to:

"Democrats declared war on the health insurance industry this morning, opening hearings on a bill that would strip its anti-trust exemption.

“It’s something that should have been done a long time ago,” said Majority Leader Harry Reid, who argued that insurance companies have gotten so large, “they dominate entire regions of the country.”

“They make more money than any business in America today,” he said. “What a sweet deal they have.”

The entire insurance industry got the exemption in 1945’s McCarran-Ferguson Act on the grounds that it was not engaged in interstate commerce, and, federal anti-trust probes would interfere with state rules.

Unlike other industries, insurance companies are allowed to discuss pricing, territories and other practices that would be considered collusion if not for the exemption."
- Mouth Of The Potomac - NY Daily News (view on Google Sidewiki)

(Video) Report: Troop Increase may not be Enough to Stabilize Afghanistan

Explorers: North Pole summers ice free in 10 years

How much more evidence do you need to convince the global warming naysayers.

in reference to:

"The North Pole will turn into an open sea during summer within a decade, according to data released Wednesday by a team of explorers who trekked through the Arctic for three months"
- Explorers: North Pole summers ice free in 10 years - Yahoo! News (view on Google Sidewiki)

U.N Meets on Israel War Crimes Report

No need for an investigation. We all know that only Muslims commit atrocities. The Israelis are only victims of terrorism. That is why we must bomb Iran. Because only Israel can have the bomb. They are a democracy, after all. Therefore, the rights of Palestinians must be ignored.

in reference to:

"The Palestinians called Wednesday for global action to punish Israel for alleged war crimes during its military assault on Gaza last winter, warning that the credibility of the United Nations and international human rights law was at stake."
- U.N Meets on Israel War Crimes Report - CBS News (view on Google Sidewiki)

Video: Afghan Women's Freedom In Jeopardy

Watch CBS News Videos Online

Obama says he's looking at any way to create Jobs

I don't think the President has a clue on how to create jobs. Cash for clunkers is no way to rebuild an economy. Neither is trickle-down economics, which has been the norm for so long. Most jobs for example are created by small businesses. Why not give incentives to create jobs rather than allowing corporations to outsource them? Education is essential, but so is creating industries in the U.S. that employ workers. That would help stimulate the economy. People who work spend it on goods, which is what makes businesses thrive.

in reference to:

"Standing at the site of a highway project funded by his massive economic stimulus plan, President Barack Obama said Wednesday he is committed to exploring all avenues to create jobs."
- Obama says he's looking at any way to create jobs - Yahoo! News (view on Google Sidewiki)

Dow Jones Hits 10,000 Again

Is this another bubble? It seems too fast. And what does it mean if the rest of the economy, in particular jobs, not shown similar advances. More disconnect between Wall St. and Main St. And isn't it time for the government to help small businesses and workers the way it did big business.

in reference to:

"The Dow index of 30 blue-chip stocks flirted all day with the 10,000 level thanks to blockbuster earnings this morning from JPMorgan Chase & Co., and better-than-expected profits from Intel Corp. after the market closed Tuesday."
- Dow Jones average breaks through 10,000, then edges back down -- (view on Google Sidewiki)

UN: World Hunger has been Increasing for a Decade

This fact is repudiation of the so-called boom of the 1990s. The global economy, thus big business, have been thriving during period - not the rest of us. The gap between rich and poor has been widening of over several decades. As a result poverty and hunger have worsened. Such a state of affairs has led to, for example, the rise in terrorism. And ultimately caused the stock market crash, as it did in the 1920s.
- Article source:

Transcript: President Obama’s Remarks on Health Care Bill (10-13-09)

Complete transcript. Excerpt below:

Today we reached a critical milestone in our effort to reform our health care system. After many months of thoughtful deliberation, the fifth and final committee responsible for health care reform has passed a proposal that has both Democratic and Republican support.

This effort was made possible by the tireless efforts of Chairman Max Baucus and the other members of the Senate Finance Committee. It’s a product of vigorous debate and difficult negotiations.

After the consideration of hundreds of amendments, it includes ideas from both Democrats and Republicans, which is why it enjoys the support of people from both parties. And I want to particularly thank Senator Olympia Snowe for both the political courage and the seriousness of purpose that she’s demonstrated throughout this process.

Now, this bill is not perfect, and we have a lot of difficult work ahead of us. There’s still significant details and disagreements to be worked out over the next several weeks as the five separate bills from the Senate and the House are merged into one proposal.

But I do believe the work of the Senate Finance Committee has brought us significantly closer to achieving the core objectives I laid out early in September.

Most importantly, this bill goes a long way towards offering security to those who have insurance and affordable options for those who don’t. It reins in some of the worst practices of the insurance industry, like the denial of coverage due to preexisting conditions.

It also sets up an insurance exchange that will make coverage affordable for those who don’t currently have it. And, as the nonpartisan Congressional Budget Office has certified, it will slow the growth of health care costs in the long term, and it will not add a penny to our deficit.

Police set up Web site to help catch a serial killer

We can do our part to fight crime. Visit this forum to participate.

in reference to:

"Her father, Thomas Lewis, recently posted a plea on a Web site established in September by the Jefferson Davis Parish Sheriff's Office to draw attention to the killing of his daughter and the deaths of seven other women in the area. Police say the slayings may be linked."
- Police set up Web site to help catch a serial killer - (view on Google Sidewiki)

Democrats Take a Pass on Civil Liberties Reform

I'll say it again - there is no fundamental difference between the 2 parties. If this President, who is a decent man, is a sellout then there is no hope of change while the Dems and Republicans rule.

in reference to:

"While we were busy fretting about Obama's Nobel, the Democrats dropped the ball on reforming Bush-era civil liberties abuses."
- Democrats Take a Pass on Civil Liberties Reform | The American Prospect (view on Google Sidewiki)