ACORN May Face Trial for First Time as Nevada Prosecutors Allege 'Widespread' Criminal Policies - Local News News Articles National News US News - FOXNews.com
LAS VEGAS — When ACORN took to Las Vegas and started playing "Blackjack" and "21," the activist group was making a far bigger gamble than it ever guessed, according to Nevada prosecutors.
There's nothing wrong with playing the tables in Vegas, but authorities say ACORN was using the names of those casino games as a cover to illegally pay workers to sign up voters as part of an illegal quota system.
ACORN is just full of surprises. In this case, I think ACORN just threw snake-eyes.
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Wednesday, September 30, 2009
Monday, September 28, 2009
Bank of America Pulls Back From ACORN Work
Bank of America Pulls Back From ACORN Work - Political News - FOXNews.com
In response to questions from The Wall Street Journal, a spokesman for the banking company said it has "suspended current commitments" to ACORN Housing, an affiliated group, and "will not enter into any further agreements with ACORN or any of its affiliates," pending assessments by the bank of the organization's operations.
ACORN isn't doing so hot.
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In response to questions from The Wall Street Journal, a spokesman for the banking company said it has "suspended current commitments" to ACORN Housing, an affiliated group, and "will not enter into any further agreements with ACORN or any of its affiliates," pending assessments by the bank of the organization's operations.
ACORN isn't doing so hot.
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White House Sees Global "Consensus" to Pressure Iran on Nuclear Program
White House Sees Global 'Consensus' to Pressure Iran on Nuclear Program - Political News - FOXNews.com
The international community is readier than ever to pressure Iran to end its suspected pursuit of a nuclear weapon, the White House said Monday, but some lawmakers expressed skepticism that upcoming talks with the Islamic Republic can produce any results.
Representatives from Iran are expected to meet in Geneva Thursday with delegates from Germany and the five permanent members of the U.N. Security Council, including the United States.
Once again, we are dealing with Iran. With their recent missile test, I believe that there will be a showdown.
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The international community is readier than ever to pressure Iran to end its suspected pursuit of a nuclear weapon, the White House said Monday, but some lawmakers expressed skepticism that upcoming talks with the Islamic Republic can produce any results.
Representatives from Iran are expected to meet in Geneva Thursday with delegates from Germany and the five permanent members of the U.N. Security Council, including the United States.
Once again, we are dealing with Iran. With their recent missile test, I believe that there will be a showdown.
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Friday, September 25, 2009
Ahmadinejad: Obama Will "Regret" Accusing Iran of Hiding Nuclear Plant
Ahmadinejad: Obama Will 'Regret' Accusing Iran of Hiding Nuclear Plant - Political News - FOXNews.com
President Obama, along with the leaders of Britain and France, will "regret" accusing Iran of hiding a nuclear facility, Iranian President Mahmoud Ahmadinejad said Friday.
To be quite honest, I believe that Iran is hiding its program and is well on its way to creating if not using a nuclear weapon. I further believe that North Korea does not quite have a nuclear weapon and is just stating that they have one in order to negotiate the lifting of trade sanctions.
Iran, on the other hand, is keeping things very secret and is actively pushing a line of pacifism only to keep the US and other nations from discovering the truth. In short, I would be worrying about Iran rather than North Korea.
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President Obama, along with the leaders of Britain and France, will "regret" accusing Iran of hiding a nuclear facility, Iranian President Mahmoud Ahmadinejad said Friday.
To be quite honest, I believe that Iran is hiding its program and is well on its way to creating if not using a nuclear weapon. I further believe that North Korea does not quite have a nuclear weapon and is just stating that they have one in order to negotiate the lifting of trade sanctions.
Iran, on the other hand, is keeping things very secret and is actively pushing a line of pacifism only to keep the US and other nations from discovering the truth. In short, I would be worrying about Iran rather than North Korea.
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Thursday, September 24, 2009
Frank Seeks to Clarify Position on ACORN, Expresses Regret Over Probe Request
Frank Seeks to Clarify Position on ACORN, Expresses Regret Over Probe Request - Political News - FOXNews.com
Rep. Barney Frank sought to clarify his position on ACORN on Wednesday after backpedaling on a request for an investigation by the Congressional Research Service into the community organizing group.
Frank said his "biggest error was to sign a letter to the Congressional Research Service which I had not thoroughly read and which does not accurately represent my own position in all aspects."
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Rep. Barney Frank sought to clarify his position on ACORN on Wednesday after backpedaling on a request for an investigation by the Congressional Research Service into the community organizing group.
Frank said his "biggest error was to sign a letter to the Congressional Research Service which I had not thoroughly read and which does not accurately represent my own position in all aspects."
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ACORN Vows "Serious" Internal Probe, Sues Filmmakers
ACORN Vows 'Serious' Internal Probe, Sues Filmmakers - Political News - FOXNews.com
ACORN vows to do a serious internal investigation and also sues the filmmakers. Oh, well. No good deed goes unpunished.
The IRS said it would no longer include ACORN in its volunteer tax assistance program. The program offered free tax advice to about 3 million low- and moderate-income tax filers this spring. ACORN provided help on about 25,000 returns, the IRS said.
As for the lawsuit, ACORN says no tax returns were actually prepared at the Baltimore office, and that the audio portion of the video recorded there was obtained illegally, since Maryland requires two-party consent for sound recordings. The multimillion-dollar lawsuit cites "extreme emotional distress" on behalf of two workers who were fired after the video was posted online.
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ACORN vows to do a serious internal investigation and also sues the filmmakers. Oh, well. No good deed goes unpunished.
The IRS said it would no longer include ACORN in its volunteer tax assistance program. The program offered free tax advice to about 3 million low- and moderate-income tax filers this spring. ACORN provided help on about 25,000 returns, the IRS said.
As for the lawsuit, ACORN says no tax returns were actually prepared at the Baltimore office, and that the audio portion of the video recorded there was obtained illegally, since Maryland requires two-party consent for sound recordings. The multimillion-dollar lawsuit cites "extreme emotional distress" on behalf of two workers who were fired after the video was posted online.
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Wednesday, September 23, 2009
FDIC Considering Borrowing Billions From Banks
FDIC Considering Borrowing Billions From Banks - ABC News
The Federal Deposit Insurance Corporation is considering borrowing billions of dollars from banks to shore up its dwindling deposit insurance fund.
Now this is an interesting twist to all of this. I wonder what sort of interest the US government will have to pay for all of this.
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The Federal Deposit Insurance Corporation is considering borrowing billions of dollars from banks to shore up its dwindling deposit insurance fund.
Now this is an interesting twist to all of this. I wonder what sort of interest the US government will have to pay for all of this.
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Top Five Highest-Paid, Worst-Performing CEOs
Top Five Highest-Paid, Worst-Performing CEOs - ABC News
Investor returns for these companies all dropped at least 20 percent for the one-year period ending this past June. For Abercrombie, BJ and Nabors, the drops were closer to 60 percent.
This is absolutely wonderful. While people are getting laidoff by the thousands, these guys get bonused for poor performance and for saving money by laying people off.
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The CEOs, all of whom saw compensation in excess of $30 million each in 2008, are:
Abercrombie & Fitch: Michael S. Jeffries, $71.8 million
BJ Services Company, J.W. Stewart: $34.6 million
Comcast Corp., Brian L. Roberts: $40.8 million
International Paper, John V. Faraci: $38.2 million
Nabors Industries, Eugene M. Isenberg: $79.3 million
Investor returns for these companies all dropped at least 20 percent for the one-year period ending this past June. For Abercrombie, BJ and Nabors, the drops were closer to 60 percent.
This is absolutely wonderful. While people are getting laidoff by the thousands, these guys get bonused for poor performance and for saving money by laying people off.
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Tuesday, September 22, 2009
ACORN's Internal Investigation Draws Skepticism From Hill
ACORN's Internal Investigation Draws Skepticism From Hill - Political News - FOXNews.com
ACORN's hiring of a Boston attorney to conduct an internal review of its practices was met with skepticism Tuesday as a California lawmaker called for congressional hearings of the community organizing group over use of taxpayer money.
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ACORN's hiring of a Boston attorney to conduct an internal review of its practices was met with skepticism Tuesday as a California lawmaker called for congressional hearings of the community organizing group over use of taxpayer money.
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Reid Threatens "Nuclear Option" to Pass Health Care Reform as Panel Starts Work
Reid Threatens 'Nuclear Option' to Pass Health Care Reform as Panel Starts Work - Political News - FOXNews.com
Senate Majority Leader Harry Reid threatened on Tuesday to use a procedural maneuver to steamroll opponents of health care reform, even as a Senate panel began delicate negotiations over a package that could have the best chance at passing.
The "nuclear option" is a procedural maneuver that would allow Democrats to pass key parts of the legislation with a simple majority, as opposed to the 60 votes needed to avoid a Republican filibuster.
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Senate Majority Leader Harry Reid threatened on Tuesday to use a procedural maneuver to steamroll opponents of health care reform, even as a Senate panel began delicate negotiations over a package that could have the best chance at passing.
The "nuclear option" is a procedural maneuver that would allow Democrats to pass key parts of the legislation with a simple majority, as opposed to the 60 votes needed to avoid a Republican filibuster.
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ACORN Selects Former Massachusetts Attorney General to Lead Internal Investigation
ACORN Selects Former Massachusetts Attorney General to Lead Internal Investigation - Political News - FOXNews.com
Former Massachusetts Attorney General Scott Harshbarger will lead the internal investigation into ACORN's activities following a scandal over the group's operation, ACORN Board Chairwoman Maude Hurd announced Tuesday.
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Former Massachusetts Attorney General Scott Harshbarger will lead the internal investigation into ACORN's activities following a scandal over the group's operation, ACORN Board Chairwoman Maude Hurd announced Tuesday.
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Equifax: Mortgage Delinquencies Set Record
Equifax: Mortgage Delinquencies Set Record - FOXBusiness.com
NEW YORK--High U.S. unemployment keeps pushing up the rate of mortgage delinquencies, which could in turn drive personal bankruptcies and home foreclosures, monthly data from the Equifax Inc credit bureau showed on Monday.
Comment: For a lot of families who have experienced layoffs, the American dream of home ownership has slipped away.
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NEW YORK--High U.S. unemployment keeps pushing up the rate of mortgage delinquencies, which could in turn drive personal bankruptcies and home foreclosures, monthly data from the Equifax Inc credit bureau showed on Monday.
Comment: For a lot of families who have experienced layoffs, the American dream of home ownership has slipped away.
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ACORN Worker in Video Reported Duo to Police
ACORN Worker in Video Reported Duo to Police - Local News News Articles National News US News - FOXNews.com
NATIONAL CITY, Calif. — Police say a worker with the activist group ACORN who was caught on video giving advice about human smuggling to a couple posing as a pimp and a prostitute had reported the incident to authorities.
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NATIONAL CITY, Calif. — Police say a worker with the activist group ACORN who was caught on video giving advice about human smuggling to a couple posing as a pimp and a prostitute had reported the incident to authorities.
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Friday, September 18, 2009
Congress Targets ACORN in a Bipartisan Way
Congress Targets ACORN in a Bipartisan Way - Political News - FOXNews.com
Congressional Republicans are clearly united against funneling federal dollars to the community organizing group ACORN. But surprisingly, so are many Democrats.
In a legislative surprise Tuesday, the House overwhelmingly voted to withhold all funding for ACORN. Later Thursday, a Republican senator targeted the group through yet another spending bill, also eyeing a total ban.
I am glad to see that Republicans and Democrats can come together on this. If it were only one incident, I may have said nothing about it and just let it go. But, with all of the videoes and each worse than the last, it is time to investigate the organization who has been receiving federal funds and was being used by the Census Bureau.
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Congressional Republicans are clearly united against funneling federal dollars to the community organizing group ACORN. But surprisingly, so are many Democrats.
In a legislative surprise Tuesday, the House overwhelmingly voted to withhold all funding for ACORN. Later Thursday, a Republican senator targeted the group through yet another spending bill, also eyeing a total ban.
I am glad to see that Republicans and Democrats can come together on this. If it were only one incident, I may have said nothing about it and just let it go. But, with all of the videoes and each worse than the last, it is time to investigate the organization who has been receiving federal funds and was being used by the Census Bureau.
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Tuesday, September 15, 2009
Fourth Videotape Reveals ACORN Advising "Pimp", "Prostitute" in California
Fourth Videotape Reveals ACORN Advising 'Pimp,' 'Prostitute' in California - Local News News Articles National News US News - FOXNews.com
Not again! A fourth video about ACORN providing advise to get around the IRS and get money for housing.
Much like in their previous undercover stings at the group's offices in Baltimore, Washington and Brooklyn, N.Y., filmmaker James O'Keefe, 25, and his 20-year-old partner Hannah Giles, who posed as a prostitute named "Eden," were given assistance on Aug. 17 from a staffer at ACORN's office in San Bernardino on how to avoid detection by law enforcement. The couple even tell ACORN staffer Tresa Kaelke — who admits on the videotape to previously having sex for money — that they plan on bringing in 12 girls from El Salvador to work in a home they hope to acquire via the community organization.
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Not again! A fourth video about ACORN providing advise to get around the IRS and get money for housing.
Much like in their previous undercover stings at the group's offices in Baltimore, Washington and Brooklyn, N.Y., filmmaker James O'Keefe, 25, and his 20-year-old partner Hannah Giles, who posed as a prostitute named "Eden," were given assistance on Aug. 17 from a staffer at ACORN's office in San Bernardino on how to avoid detection by law enforcement. The couple even tell ACORN staffer Tresa Kaelke — who admits on the videotape to previously having sex for money — that they plan on bringing in 12 girls from El Salvador to work in a home they hope to acquire via the community organization.
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Is Rude Behavior Becoming the Norm?
Is Rude Behavior Becoming the Norm? - FOXNews.com
I am sorry. There is no excuse for rude behavior. Children do not use "sir" or "ma'am" at all. Manners do matter! It shows that you respect and care for that individual. By failing to extend that courtesy to individuals, you have, in short, said that you don't respect them at all.
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I am sorry. There is no excuse for rude behavior. Children do not use "sir" or "ma'am" at all. Manners do matter! It shows that you respect and care for that individual. By failing to extend that courtesy to individuals, you have, in short, said that you don't respect them at all.
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Monday, September 14, 2009
Republican Lawmakers Turn Up the Heat on ACORN
Republican Lawmakers Turn Up the Heat on ACORN - Political News - FOXNews.com
A growing number of Republican lawmakers are calling for congressional hearings and IRS audits of ACORN following the release of three videotapes that show the group's employees offering advice to a "pimp" and a "prostitute" on how to skirt the law.
Rep. Steve King, R-IA, said a video released Monday that shows filmmaker James O'Keefe, 25, and Hannah Giles, 20, getting advice from ACORN employees in Brooklyn, N.Y., on how to launder their earnings and avoid detection while running a prostitution business is "another reason to turn it up" on ACORN.
Further in the news article, ACORN has threatened legal action against FOX and those who made the videos.
ACORN chief organizer Bertha Lewis said the videos capturing her former workers were "doctored, edited, and in no way the result of the fabricated story being portrayed by conservative activist 'filmmaker' O'Keefe and his partner in crime."
Lewis said ACORN will take legal action against FOX News and those involved in the making of the videos. She said ACORN offices were also targeted in San Diego, Los Angeles, Miami, New York and Philadelphia, among other places.
After riding this article and the others, ACORN needs to be investigated. According to USASpending.gov, a federal government Web site for tracking government grants, ACORN Housing Corporation received $1.6 million to provide housing services to low-income communities in this fiscal year, ending Sept. 30. The Department of Housing and Urban Development Grants has given $8.2 million to ACORN between 2003 and 2006, as well as $1.6 million to ACORN affiliates.
I think ACORN should use legal action against FOX and the makers of the videos. To be quite honest, ACORN will also suffer from their own legal actions. Going to court or suing someone is like using a double-edged sword. It cuts both ways.
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A growing number of Republican lawmakers are calling for congressional hearings and IRS audits of ACORN following the release of three videotapes that show the group's employees offering advice to a "pimp" and a "prostitute" on how to skirt the law.
Rep. Steve King, R-IA, said a video released Monday that shows filmmaker James O'Keefe, 25, and Hannah Giles, 20, getting advice from ACORN employees in Brooklyn, N.Y., on how to launder their earnings and avoid detection while running a prostitution business is "another reason to turn it up" on ACORN.
Further in the news article, ACORN has threatened legal action against FOX and those who made the videos.
ACORN chief organizer Bertha Lewis said the videos capturing her former workers were "doctored, edited, and in no way the result of the fabricated story being portrayed by conservative activist 'filmmaker' O'Keefe and his partner in crime."
Lewis said ACORN will take legal action against FOX News and those involved in the making of the videos. She said ACORN offices were also targeted in San Diego, Los Angeles, Miami, New York and Philadelphia, among other places.
After riding this article and the others, ACORN needs to be investigated. According to USASpending.gov, a federal government Web site for tracking government grants, ACORN Housing Corporation received $1.6 million to provide housing services to low-income communities in this fiscal year, ending Sept. 30. The Department of Housing and Urban Development Grants has given $8.2 million to ACORN between 2003 and 2006, as well as $1.6 million to ACORN affiliates.
I think ACORN should use legal action against FOX and the makers of the videos. To be quite honest, ACORN will also suffer from their own legal actions. Going to court or suing someone is like using a double-edged sword. It cuts both ways.
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Election Trouble Brewing for House Dems in 2010
Election Trouble Brewing for House Dems in 2010 - Political News - FOXNews.com
NEW YORK -- Despite sweeping Democratic successes in the past two national elections, continuing job losses and President Barack Obama's slipping support could lead to double-digit losses for the party in next year's congressional races and may even threaten their House control.
Fifty-four new Democrats were swept into the House in 2006 and 2008, helping the party claim a decisive majority as voters soured on a Republican president and embraced Obama's message of hope and change. Many of the new Democrats are in districts carried by Republican John McCain in last year's presidential contest; others are in traditional swing districts that have proved tough for either party to hold.
I knew this would happen. If the Republicans want to get back in the good graces of the American people, they need to remain true to their ideology.
NEW YORK -- Despite sweeping Democratic successes in the past two national elections, continuing job losses and President Barack Obama's slipping support could lead to double-digit losses for the party in next year's congressional races and may even threaten their House control.
Fifty-four new Democrats were swept into the House in 2006 and 2008, helping the party claim a decisive majority as voters soured on a Republican president and embraced Obama's message of hope and change. Many of the new Democrats are in districts carried by Republican John McCain in last year's presidential contest; others are in traditional swing districts that have proved tough for either party to hold.
I knew this would happen. If the Republicans want to get back in the good graces of the American people, they need to remain true to their ideology.
- Small government: Reduce the government's footprint and its desire to worm its way into the lives of Americans.
- Fiscal responsibility: Don't spend like drunken sailors. Reduce the waste in government.
- Be responsive to the people: Listen to the people. Don't tell them what they should think and tell them that only elected officials know what's best. This is the big one for most voters. Politicians have been acting like they are not working for us. BIG MISTAKE! If our leaders believe that they don't need to listen to us, we get their attention by voting them out of office.
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Third Videotape Reveals ACORN Assisting Pimp", "Prostitute" in Brooklyn, N.Y.
Third Videotape Reveals ACORN Assisting 'Pimp,' 'Prostitute' in Brooklyn, N.Y. - Local News News Articles National News US News - FOXNews.com
Days after the release of hidden-camera videos led to the firing of four ACORN workers in Baltimore and Washington who assisted an independent filmmaker posing as a pimp to apply for an illegal housing loan for a brothel, a third video has surfaced showing ACORN workers offering the same kind of assistance at the organization's office in Brooklyn, N.Y.
Once again, another ACORN problem. I guess there will be an investigation. Or, at least, I hope that there will be an investigation.
The other thing that is very interesting about this whole situation is the information they are giving out. Does ACORN run classes for their employees to teach them techniques on skirting IRS, banking regulations, falsifying loan application information and how to declare underage girls used as prostitutes as "dependents"?
ACORN is missing a perfect opportunity to generate revenue by offering these classes to the public. Or, maybe, they can offer them as part of the punishment as "community service".
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Days after the release of hidden-camera videos led to the firing of four ACORN workers in Baltimore and Washington who assisted an independent filmmaker posing as a pimp to apply for an illegal housing loan for a brothel, a third video has surfaced showing ACORN workers offering the same kind of assistance at the organization's office in Brooklyn, N.Y.
Once again, another ACORN problem. I guess there will be an investigation. Or, at least, I hope that there will be an investigation.
The other thing that is very interesting about this whole situation is the information they are giving out. Does ACORN run classes for their employees to teach them techniques on skirting IRS, banking regulations, falsifying loan application information and how to declare underage girls used as prostitutes as "dependents"?
ACORN is missing a perfect opportunity to generate revenue by offering these classes to the public. Or, maybe, they can offer them as part of the punishment as "community service".
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Saturday, September 12, 2009
After Census Severs Ties, ACORN May Face Scrutiny of Housing Grants
After Census Severs Ties, ACORN May Face Scrutiny of Housing Grants - Political News - FOXNews.com
Conservatives have cheered the Census Bureau's decision to sever ties with ACORN because it had lost confidence in the group, but the hidden-camera videos that prompted ACORN to fire four workers this week could raise more questions about the federal funding ACORN receives for housing outreach.
ACORN Housing Corporation received $1.6 million to provide housing services to low-income communities in this fiscal year, ending Sept. 30, according to USASpending.gov, a federal government Web site for tracking government grants.
The Department of Housing and Urban Development Grants has given $8.2 million to ACORN in the years between 2003 and 2006, as well as $1.6million to ACORN affiliates.
I think it is time we honestly look very closely at ACORN's activities. Needless to say, I agree with the Census Bureau's decision to sever its ties with ACORN.
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Conservatives have cheered the Census Bureau's decision to sever ties with ACORN because it had lost confidence in the group, but the hidden-camera videos that prompted ACORN to fire four workers this week could raise more questions about the federal funding ACORN receives for housing outreach.
ACORN Housing Corporation received $1.6 million to provide housing services to low-income communities in this fiscal year, ending Sept. 30, according to USASpending.gov, a federal government Web site for tracking government grants.
The Department of Housing and Urban Development Grants has given $8.2 million to ACORN in the years between 2003 and 2006, as well as $1.6million to ACORN affiliates.
I think it is time we honestly look very closely at ACORN's activities. Needless to say, I agree with the Census Bureau's decision to sever its ties with ACORN.
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Friday, September 11, 2009
Second Video Shows ACORN Officials Helping "Pimp", "Prostitute" in Washington Office
Second Video Shows ACORN Officials Helping 'Pimp,' 'Prostitute' in Washington Office - Local News News Articles National News US News - FOXNews.com
One day after two ACORN officials in Baltimore were fired for offering to help a man and woman posing as a pimp and prostitute to engage in child prostitution and a series of tax crimes, another secretly shot videotape has surfaced that shows the same couple getting similar advice from ACORN officers in Washington.
ACORN receives government money for their programs. I think there needs to be investigation.
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One day after two ACORN officials in Baltimore were fired for offering to help a man and woman posing as a pimp and prostitute to engage in child prostitution and a series of tax crimes, another secretly shot videotape has surfaced that shows the same couple getting similar advice from ACORN officers in Washington.
ACORN receives government money for their programs. I think there needs to be investigation.
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Thursday, September 10, 2009
ACORN Officials Videotaped Telling Pimp & Prostitute How to Lie to IRS
ACORN Officials Videotaped Telling 'Pimp,' 'Prostitute' How to Lie to IRS - Local News News Articles National News US News - FOXNews.com
Officials with the controversial community organizing group ACORN were secretly videotaped offering to assist two individuals posing as a pimp and a prostitute, encouraging them to lie to the Internal Revenue Service and providing guidance on how to claim underage girls from South America as dependents.
Another black eye for ACORN.
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Officials with the controversial community organizing group ACORN were secretly videotaped offering to assist two individuals posing as a pimp and a prostitute, encouraging them to lie to the Internal Revenue Service and providing guidance on how to claim underage girls from South America as dependents.
Another black eye for ACORN.
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Wednesday, September 9, 2009
Taxpayers Face Heavy Losses on Auto Bailout
Taxpayers Face Heavy Losses on Auto Bailout - Political News - FOXNews.com
WASHINGTON - Taxpayers face losses on a significant portion of the $81 billion in government aid provided to the auto industry, an oversight panel said in a report to be released Wednesday.
The Congressional Oversight Panel did not provide an estimate of the projected loss in its latest monthly report on the $700 billion Troubled Asset Relief Program. But it said most of the $23 billion initially provided to General Motors Corp. and Chrysler LLC late last year is unlikely to be repaid.
OUCH! This is going to continue to hurt the US. I cannot honestly see how our taxes will not be raised. With the debt piling up, our economy will continue to suffer.
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WASHINGTON - Taxpayers face losses on a significant portion of the $81 billion in government aid provided to the auto industry, an oversight panel said in a report to be released Wednesday.
The Congressional Oversight Panel did not provide an estimate of the projected loss in its latest monthly report on the $700 billion Troubled Asset Relief Program. But it said most of the $23 billion initially provided to General Motors Corp. and Chrysler LLC late last year is unlikely to be repaid.
OUCH! This is going to continue to hurt the US. I cannot honestly see how our taxes will not be raised. With the debt piling up, our economy will continue to suffer.
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Friday, September 4, 2009
Is the Dollar Doomed?
Read This Because the Dollar Is Doomed
Brian Richards and I wrote back in March that we thought the dollar might be doomed. That was because:1. The United States has a massive and growing deficit.2. The United States continues to generate significant trade deficits.3. The United States has become oh-so-willing to print money out of thin air to meet its increasing obligations, and to prop up the likes of AIG (NYSE: AIG) and Bank of America (NYSE: BAC).
Given the health care program, stimulus package, bank bailouts, "cash for clunkers" program, we are spending too much money and spending money we really don't have. Take a look at this article on wikipedia. Click here.
Read the article carefully and you will be appalled by what you see.
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Brian Richards and I wrote back in March that we thought the dollar might be doomed. That was because:1. The United States has a massive and growing deficit.2. The United States continues to generate significant trade deficits.3. The United States has become oh-so-willing to print money out of thin air to meet its increasing obligations, and to prop up the likes of AIG (NYSE: AIG) and Bank of America (NYSE: BAC).
Given the health care program, stimulus package, bank bailouts, "cash for clunkers" program, we are spending too much money and spending money we really don't have. Take a look at this article on wikipedia. Click here.
Read the article carefully and you will be appalled by what you see.
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