Today, the failure of the US Congress to pass the financial system bail legislation might very well become one of the most important days in modern history. You see, the banking system is on the verge of collapsing and really needs a government rescue. More than half of the House of Representitives voted against allowing the government to buy up to $700 billion in toxic loans. This bill might very well have saved wall street, main street, and the rest of this country! The government today seperated themselves from wall street in what might be the biggest fundamental change in legislator mentality. Trillions of dollars in wealth has been lost in the last several weeks including lawmakers’ own money. The basic principle around that which our country is based is the more money people have and make the more money they can collect in taxes. Without all that tax money, what is Congress going to do? Hopefully take a nice pay cut next year like the rest of the population, but doubtfull….they will probably give themselves raises and continue to push for their pet projects that help out their own jurisdiction……
Today, the credit crisis might have morphed into the start of The Great Depression 2. Wake up Congress and save yourselves along with everyone else before it’s too late!
WaMu has become the latest failure in the financial meltdown that has plagued the United States banking system. One wonders who the idiots are let this happen? WaMu management? Regulators? Congress for not acting? The rating firms that lowered the ratings on their debt? Everyone’s deposits at the bank are safe as the branches and accounts were bought by JPmorgan Chase for $1.9billion.
What is amazing is the fact that it didn’t take a smart person to see this coming! Hopefully Americans do not lose faith in the banking system and continue to keep their money there as opposed to keeping it hidden in a mattress. I remember my grandmother tell me stories about days when they did this. They did not believe their money was safe in banks, one wonders if we will return to this era.
This is our idiot of the month, Henry Earl. He is a man from Lexington, KY that has been arrested 1,000 times for “Alcohol Intoxication”. He faced a judge this week for his 35th charge this year and the judge gave him 1,000 days in jail for his anniversary.
Earl, upset at the sentence and appearantly brain damaged from all the alcohol he’s been drinking, stated how he would see the judge again on Thursday. Whatever the hell that means. He pleaded guilty to begin with! This has to be a world record for arrests right?
For his 1,000 arrests he has spent a total of 4,123 days in jail.
This (Russian?) guy likes his audio cables better than women and he goes on to give a list of reasons why they are better! He is a troubled man who needs to get more……
A 4+ minute video of various ordinary things filmed with very very slow motion video equipment. Although I thought it was interesting, I quickly grew bored of waiting…………
The founder of an Oakland food factory that laces everything from cookies to barbecue sauce with marijuana has been on trial recently for a federal drug charge. Federal drug agents raided Tainted Inc. in Oakland a few years ago, and arrested three of Martin’s employees on drug charges for allegedly producing such marijuana-laced products as honey, soda and other snacks. At the time, federal officers couldn’t find Martin and considered him a fugitive. Martin said he was on vacation and made arrangements to promptly turn himself in once he’d heard of the raids.
As the financial markets continue to crumble China will soon swoop in and make us their bitch! That’s right soon there will be little American schoolchildren sweatshops making things for China. You see folks, your money in the bank is safe only as long as our government has the funds to guarantee it. If the domino effect of the financial system continues on it’s course, the entire economy could collapse. Your money in the bank will disappear and the government will not be able to pay out the insurance guarantee as it will have overpaid would it could pay out! Investments in a wide variety of financial instruments will become a fraction of what they once were. And yes, we will shortly be sending our school children to sew sneakers for snooty Chinese kids. There will soon be an even bigger Chinese economic boom at the cost of the United States! (more…)