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FINANCIAL TIMES CHIEF DECLARES ‘NEW WORLD ORDER’ AS POWER SHIFTS TO CHINA AT G20 MEETING

DURING TONIGHT’S LIVE BROADCAST OF CNBC WORLD’S ‘SQUAWK BOX EUROPE,’ FINANCIAL TIMES EDITOR LIONEL BARBER DECLARED THAT WE ARE NOW LIVING IN A ‘NEW WORLD ORDER’ WHERE THE ‘GROUP OF 20’ (G20) COUNTRIES WILL BE MAINLY FOCUSED ON WHAT CHINA WILL DO, INSTEAD OF THE UNITED STATES, IN SOLVING THIS FINANCIAL CRISIS. HE OFFERED THE IDEA THAT THE G20 OUGHT TO BE REFERRED TO AS THE G2 WITH THE U.S. AND CHINA BEING THE TWO HEGEMONIC POWERS…

FT Editor Lionel Barber interviews China’s Premier Hu Jintao

TEN-THOUSANDS PROTEST IN START OF ‘SUMMER OF RAGE…”

OBAMA MEETS BROWN FOR TALKS (VIDEO)…

OBAMA PREACHES GLOBAL ‘UNITY’ IN INTERVIEW WITH FT…

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Filed under: Economics, Politics, World, , , , , , , , , , , , , , , , , , , , , , , ,

HUNDREDS OF PROTESTERS THROWN OUT OF IOWA PUBLIC HEARING (Audio)

“This is the most atrocious thing I’ve seen in the history of the 15 years I’ve been a lobbyist. Pat Murphy has acted like a jack-booted Nazi,” said Ed Failor Jr., president of Iowans for Tax Relief, a conservative taxpayers’ rights group from Muscatine with 50,000 members…

AUDIO…

Filed under: Politics, , , , , , , , , , , , , , ,

Chris Matthews Says Palin Was McCain’s ‘Mail-Order Bride’

Filed under: Humor/Irony, Media, Politics, , , , , , , , , , , , , , , , , , , , , ,

GENERAL MOTORS CEO QUITS ON DEMANDS FROM OBAMA

YOU’RE FIRED

WIRE: The Obama administration asked Rick Wagoner, the chairman and CEO of General Motors, to step down and he agreed, a White House official said.

Wagoner’s departure is one of the remarkable strings attached to a new aid package the administration plans to offer GM…

Filed under: Obama, , , , , , , , , , , , , , , , , ,

OBAMA: DETROIT NO LONGER ‘VIABLE’

SURVIVAL OF THE FITTEST

WIRE: In surprising findings to be outlined at the White House on Monday, President Obama has concluded that neither GM nor Chrysler can survive as they now exist. But the White House is sparing them for a month or two, and is promising American consumers that the government will stand behind warranties if the automakers fail…

Tells GM CEO To Head Home…

Filed under: Obama, , , , , , , , , , , , , , , , , , ,

Financial Crisis ‘Caused by White People With Blue Eyes’

PAPER: In Brazil, Gordon Brown continued his pre-summit tour but there was embarrassment when his host, President Luiz Inacio Lula Da Silva, said the financial crisis was caused by “white people with blue eyes”. He told a joint press conference with Mr Brown that he had never met a black banker…

Filed under: Politics, World, , , , , , , , , , , , , , , , , , , , , , , , ,

House Democrats Slash $100 Billion from Obama’s $3.45 TRILLION Budget

PAPER: House budget leaders today unveiled a $3.45 trillion budget blueprint for fiscal 2010 that slices more than $100 billion from the spending plan President Obama proposed last month…

Filed under: Politics, , , , , , , , , , , , , , , , , ,

OBAMA ADMIN SEEKS POWER TO SEIZE NON-BANK FINANCIAL FIRMS

PAPER: The Obama administration is considering asking Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, according to an administration document…

Brendan Smialowski / Bloomberg News

Brendan Smialowski / Bloomberg News

Filed under: Economics, Obama, , , , , , , , , , , , , , , , , , ,

The Audacity of Hope Shines as Obama Plans to Persuade Democrats to Support Budget

PAPER: President Obama will go to Capitol Hill this week to try to persuade skeptical Senate Democrats to support the administration’s first budget request after an analysis showed that the spending plan would drive the nation deeply into debt over the next decade.


Obama will address Senate Democrats on Wednesday, when budget committees are scheduled to meet in the House and Senate to consider the $3.6 trillion spending plan for the fiscal year that begins in October…

Source: Wired.com

Source: Wired.com

Filed under: Obama, , , , , , , , , , , , , , , , ,

Obama’s Secret Meeting With Gorbachev; Press Wasn’t Informed (Video)

gibbsrussiameeting

Filed under: Obama, , , , , , , , , , , , , , , , , , ,

Hotel Industry Annoyed With Congressional ‘Hypocrisy’ After Senators Take Lavish Trips

WIRE: The U.S. Senate last month passed a measure limiting “luxury” spending for corporate travel by recipients of federal bailout funds. Two weeks later, about two dozen senators of both parties left town for political meetings on the Florida coast…

Filed under: Humor/Irony, Politics, , , , , , , , , , , , , , , , , , ,

Senator Bayh (D-IN) Creating Centrist Democrat Group to Oppose Pelosi/Reid Faction (Video)

centristdems

Filed under: Politics, , , , , , , , , , , , , , ,

Sen. Shelby Says Treasury Sec. Geithner May Not ‘Last Long’

Shelby: “My confidence is waning every day…If he keeps going down this road, I think that he won’t last long…”

Win McNamee/Getty

Win McNamee/Getty

Filed under: Politics, , , , , , , , , , , , ,

BREAKING NEWS: OBAMA TO OVERHAUL EXEC. PAY AND FINANCIAL REGULATION

YOU’RE NEXT

“The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation, government officials said…”

Filed under: Economics, Obama, , , , , , , , , , , , , , , , ,

Obama on Tonight Show Videos; Insults Disabled, ‘Like the Special Olympics’

Jay capitulates to Obama…

obamaleno

Filed under: Humor/Irony, Media, Obama, , , , , , , , , , , , , , , ,

The Economist: Barney Frank Doubts Federal Reserve’s Future Ability to Regulate Banks

U.S. Representative Barney Frank spoke to “The Economist” and said: “The Fed has taken a bit of a hit over this AIG issue…[the] political case for the Fed as systemic risk regulator is going to have to be rebuilt, re-examined.”


Filed under: Politics, , , , , , , , , , , , , , , ,

HOUSE PASSES 90% TAX ON AIG BONUSES

90% TAX

“Spurred on by a tidal wave of public anger over bonuses paid to executives of the foundering American International Group, the House voted 328 to 93 on Thursday to get back most of the money by levying a 90 percent tax on it…”

Chris Dodd Added Loopshole Allowing AIG Bonuses at the Request of Obama…

Filed under: Politics, , , , , , , , , , , , , , ,

Sen. Dodd ADMITS He Inserted Loophole Allowing AIG Bonuses, On Obama’s Request (Video)

DODD: “We wrote the language in the bill, the deal with bonuses, golden parachutes, excessive executive compensation that was adopted unanimously by the United States Senate in the stimulus bill…”

dodd

Filed under: Politics, , , , , , , , , , , , , , , ,

Biden: Economy, ‘This is life and death’

“Vice President Joe Biden’s tone on the economy Monday night was a stark contrast from the upbeat message coming from the Obama administration over the past few days…”

BIDEN: “This president has inherited the most difficult first 100 days of any president, I would argue, including Franklin Roosevelt”

BIDEN: “Let me explain what I mean by that,” he added. “It was clear the problem Roosevelt inherited. This is a more complicated economic [problem]. We’ve never, ever been here before – here or in the world. Never, ever been here before.”

Filed under: Economics, Obama, , , , , , , , , , , , , , ,

Pelosi Seeks Subsidies for FAILING Newspapers

“We must ensure that our policies enable our news organizations to survive and to engage in the news gathering and analysis that the American people expect,” Pelosi wrote.

“Pelosi’s spokesman, Brendan Daly, said the speaker was moved by the recent announcement by the Hearst Corp., the parent company of The Chronicle, that it would be forced to sell or close the paper if it could not achieve major cost-savings quickly. Hearst has said the paper lost $50 million last year and that this year’s losses will likely be worse.”

Filed under: Media, Politics, , , , , , , , , , , ,

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