Failures and Consolidation Lead to Major Bank Shakeout

August 28, 2009

“The problem bank list is just about the only part of the industry that’s growing right now. The sector’s financial problems, outlined by regulators in excruciating detail on Thursday, could speed a shakeout that already has slashed banks’ ranks by almost half over two decades.” This will have wide ranging ramifications.

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Lockerbie Bomber Release Significant Blow to Special Relationship

August 27, 2009

“Eleven and a half days. That’s how much prison time the American commentator Charles Krauthammer reckons Abdelbaset Ali Mohmed al Megrahi served for each of the 270 people he murdered when he planted the bomb that blew Pan Am Flight 103 out of the skies.” This one stings more than that DVD gift basket.

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The CIA in Crisis: As Panetta Rumors Fly, Obama Targets Agency

August 27, 2009

“There is now just one group of people exempt from President Obama’s worldwide ban on torture: the men and women of the CIA.” CIA vet Herbert Meyer: “the President has done more than merely throw a bone to his base. He has removed all remaining doubt about how the US plans to confront radical Islam.”

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Ezekiel Emanuel, Rationer in Chief, Blames Hippocratic Oath for Health Cost Woes

August 27, 2009

Betsy McCaughey on the White House’s health rationer: “Dr. Emanuel is part of a school of thought that redefines a physician’s duty, insisting that it includes working for the greater good of society instead of focusing only on a patient’s needs. Many physicians find that view dangerous, and most Americans are likely to agree.”

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The Stratfor View: Obama's Foreign Policy Really is Bush Redux

August 27, 2009

George Friedman: “The single most remarkable thing about Obama’s foreign policy is how consistent it is with the policies of former President George W. Bush… Presidents operate in the world of constraints; their options are limited. Still, it is worth pausing to note how little Obama has deviated from the Bush foreign policy.”

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Goldman Sachs and its Enemies: Rage Boils Over at Firm

August 26, 2009

Lloyd Blankfein, 54-year-old chairman and CEO of Goldman Sachs, is profiled by Time: “the level of resentment and ire directed at Goldman — from Congress, from competitors, from the media, from the public — has never been higher. Blankfein, only the 11th leader of the 140-year-old firm, is having a tough time understanding why.”

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Cash for Clunkers $4500 is Taxable: Or Didn't You Know That?

August 26, 2009

“When you buy a new car you pay tax on the difference between the new car’s purchase price and the trade-in you present to the dealer.” Under cash for clunkers, “you pay sales tax on the full vehicle price (effectively paying sales tax on the $4,500!).” States with income tax will effectively tax you twice.

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Summer Boost or Permanent Shift? New Home Sales Jump 9.6%, Most in Four Years

August 26, 2009

Home sales increased 9.6 percent, “the most since February 2005, to a 433,000 annual pace…The gain in sales, together with rising purchases of existing homes and steadying prices, indicate the housing slump may be ending as Federal Reserve efforts to thaw credit and the Obama administration’s first-time homebuyer incentives lift demand.”

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Holder Prosecutes the CIA: Reopening Abuse Cases Will be an Avalanche

August 26, 2009

Holder unleashes the hounds: “As New York liberal Representative Jerry Nadler declared recently, going after the CIA interrogators who “waterboarded” a detainee with ‘eight ounces’ of water rather than the Bush lawyers who decreed they could only use three ounces, would be ‘terrible.’” This should be interesting.

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Ted Kennedy Dies at 77: Remembered for Power, Influence, Controversy and Hardened Liberalism

August 26, 2009

Ted Kennedy was unmatched in influence on American social policy in the US Senate for more than thirty years. His last significant act was almost certainly his decision to endorse Obama in 2008, bequeathing the blessing of American liberalism. We’ll leave his personal life for others to hash out, as it was almost entirely regrettable.

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