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IMMIGRANT SON – Breaking News, Provocative Stories, Global Economic Analysis

NORTH KOREA LAUNCHES ROCKET

NORTH KOREA FIRES ROCKET

PASSED OVER THE JAPAN…

BOOSTER MECHANISM FALLS INTO SEA OF JAPAN…

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

BREAKING NEWS: HEDGE FUND MUST GIVE UP CONTROL OF CHRYSLER

HEDGE FUND DOWN

PAPER: Cerberus Capital Management will lose its equity stake in Chrysler LLC’s struggling automotive company as a condition of the Treasury Department’s bailout deal with the U.S. auto maker, according to several people familiar with the matter.

The New York private-equity firm purchased an 80% stake in Chrysler in 2007, promising to bolster the auto maker’s performance by operating as an independent company. The plan, however, collapsed due to an unprecedented slowdown in the U.S. auto industry and a lack of capital at the auto maker to weather the storm…

OBAMA: LET THEM GO BANKRUPT…

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

About Beck He’s Mad, Apocalyptic, Tearful, and a Rising Star, NYT Says

PAPER: “You are not alone,” Glenn Beck likes to say. For the disaffected and aggrieved Americans of the Obama era, he could not have picked a better rallying cry…

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

Japan to Activate Missile Defense if North Korea Fires, Orders ‘Destruction Order’

Japan’s Self Defense Forces plan to deploy Aegis destroyers off Japan and move PAC-3 missile units now stationed in 6 locations to northern Japan, over which a missile would likely pass…

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

Obama Admin. Set to Propose Largest Expansion of Government Tomorrow

REGULATE

PAPER: The Obama administration’s plan, described by several sources, would extend federal regulation for the first time to all trading in financial derivatives and to companies including large hedge funds and major insurers such as American International Group. The administration also will seek to impose uniform standards on all large financial firms, including banks, an unprecedented step that would place significant limits on the scope and risk of their activities…

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

Burger King Masked Gunman Shot and Killed by Customer with Gun Permit

PAPER: Police said a man wearing a ski mask walked into the store at Biscayne Boulevard and 54th Street and demanded money from a clerk.

A customer, who has a concealed weapons permit, pulled a gun, said Officer Jeff Giordano, a Miami police spokesman…

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, , , , , , , , , , , , , , , , , , ,

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

gibbsrussiameeting

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

ACORN Behind Protests at AIG Exec. Homes (Video)

PAPER: So why not pack a bus with community activists, invite a representative from every media organization in the free world and see the Fairfield County mansions of the “filthy rich and most recently infamous” — American International Group executives. After all, these are the people who packed their wallets with millions in taxpayer bailout bonuses for helping take their company and the U.S. economy down the tubes, organizers said.

And that’s exactly what the Working Families Party and ACORN did Saturday morning…

acornaig

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

Treasury Continues With $1 Trillion Government Fund, ‘Public Investment Corp.’

SOCIALIZED INVESTMENTS

Paper: The Treasury Department will unveil the next step in its financial rescue efforts tomorrow, announcing that it intends to create a government body, called the Public Investment Corp., to finance the purchase of as much as $1 trillion in soured loans and toxic assets from ailing banks, according to sources…

Chip Somodevilla/Bloomberg News
Chip Somodevilla/Bloomberg News

Obama’s $1 Trillion ‘Detox…’

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

Japan Prime Minister: Must Build Defense

Japan Prime Minister“You must be well aware that we face many issues in the Asia-Pacific region, including North Korea’s nuclear and ballistic missile development...for us to assure peace and stability in Japan, it is extremely important to further strengthen the Japan-US alliance as well as to make its own efforts for self defense…”

U.S. To Move Troops From Japan to Guam…

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

Venezuela’s Military Takes Control Of Airports

“Venezuela’s military took control Saturday of all the country’s major airports and maritime ports, following a recently enacted law handing management of the facilities to the central government.

Soldiers occupied major facilities under the legal reform approved by the pro-Chavez parliament, taking over maritime terminals in the opposition stronghold city of Maracaibo in the state of Zulia, the port of Guanta in Anzoategui and others in the states of Carabobo and Nueva Esparta…”

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

Starbucks Supports Union Bill

“Three big retailers are expected to back an alternative proposal next week on a hotly contested bill that would make it easier to unionize workplaces, a move some experts said would bolster the legislation’s chance of passage. Costco Wholesale Corp., Starbucks Corp. and Whole Foods Market Inc. are supporting the alternative proposal, according to someone familiar with the effort. Ray Krupin, a management labor lawyer in Washington said the most likely compromise would allow employees to unionize if 70% of them sign union-authorization cards, as opposed to 50% as currently proposed in the Employee Free Choice Act…”

We’re not all froth…

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

WSJ: Will Obama Go AWOL on VA Health Benefits?

“If you were injured in Iraq or Afghanistan and you have not paid your co-pay, please press 1. If you were injured during military training and you have not yet reached your deductible, please press 2. If your family has reached its maximum insurance benefit, please call back after you have purchased additional coverage. Thank you for your service…”

Charles Dharapak/AP

Charles Dharapak/AP

The American Legion Chief Says Obama “Refused to Hear About Government-Avowed Obligations…”

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

RUSSIA MAY SEND BOMBERS TO CUBA

“Russia could land strategic bombers at Cuban and Venezuelan airfields while conducting patrols, the head of the Russian strategic air force was quoted as saying by the Interfax news service…”

“”There are four or five airfields in Cuba with 4,000-meter-long runways, which absolutely suit us,” Maj. Gen. Anatoly Zhikharev told Interfax…”

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

Most Democrats Wanted Bush to Fail in 2006…

“Rush Limbaugh took a lot of heat for saying he wants President Obama to fail — but a lot of Democrats felt the same way about former President George W. Bush during his second term…”

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

CNN Reporter Becomes Communist Candidate in El Salvador

The presidential candidate [1] of the Farabundo Martí National Liberation Front (FMLN), the communist revolutionaries in El Salvador the Reagan administration battled in the 1980s, is, a Monday Washington Post story noted, “a former correspondent for CNN en Espanol [2].” In the March 9 article, “In El Salvador Vote, Big Opportunity for Leftists [3],” reporter William Booth relayed from San Salvador that the journalist-turned-politician “considers himself to be El Salvador’s Barack Obama….”

Filed under: Media, World, , , , , , , , , , , , ,

UNEMPLOYMENT RATE JUMPS TO 8.1%, HIGHEST IN QUARTER-CENTURY

The U.S. unemployment rate spiked to 8.1%…WORSE than 7.9% forecast…

Payrolls decline by 651,000…

Last months number was revised, 161,000 additional jobs cut…

soup

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