I miss Big Dawg: President Clinton

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January 7, 2009. Tags: , , , . Politics. Comments off.

Update: Video: Full House: a Royal Flush…aww Big Dawg, G.H.W. Bush, Dubyah and PEBO at Oval…

Courtesy of topnewsmakers

Update: ABC covers the meeting:

“I think [what] we all share is that we want you to succeed. Whether we’re Democrat or Republican, we care deeply about this country. And to the extent we can, we look forward to sharing our experiences with you,” President Bush said.

“All of us who have served in this office understand that the office itself transcends the individual — and we wish you all the very best,” the outgoing president said.

Obama met with Bush for half an hour before sitting down with former presidents Jimmy Carter, George H.W. Bush and Bill Clinton, without any staff present.

It makes me tear up it really does, and I am not a fan of several of these men. Awww, I love America. God Bless America and our leaders, who, regardless of our opinions of their views or policies, surely we agree these men have always, always done what they felt in their hearts would keep America and her people safe.

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January 7, 2009. Tags: , , , , , , , , , . Music, Obama Administration, Politics, Popular Culture. Comments off.

Breaking: Sheila Bair to stay on at FDIC–HOORAY!!!

Sheila Bair - FDIC Chief

Sheila Bair - FDIC Chief

We LOVE Sheila Bair here at MiM, if Paulson or Geithner or Bernanke had listened to Sheila we would have had mods underway for a year or more by now…they continuously refused her requests that TARP funds be used to fund an FDIC housing plan despite the repeated requests by Congress that they do so…

Barney Frank (D-MA) and Maxine Waters (D-CA)have gone to town on Kashkari for this refusal to implement Chairwoman Bair’s plans and we are sure they had her back in this appointment, (see Waters on our video wall)  (she has butted heads with Tim Geithner the incoming Treasury Secretary over the Citibank attempt to buy Wachovia so there is bad blood there….)

We are ECSTATIC that she is staying on at FDIC..

Read more about Chairman Sheila Bair in our previous posts on her work at FDIC, her incredible bio, and her mort mod plans in our previous posts here and here and here

FDIC BIO of Sheila C. Bair


January 7, 2009. Tags: , , , , , , , , , , , , , . Economy, FDIC, Finance, Foreclosures, Hillary Clinton, Housing, Music, Obama Administration, Politics, Popular Culture, TARP, Unemployment Statistics, Wall St. 6 comments.

Update DOW closes down 245 Market Update: India’s Enron: Satyam Computer CEO admits to years of fraud…ADP job numbers shocker…TWX down on earnings warning…

Update: 5:11pm EST: Markets closed with biggest drop since 12/1. DOW down 245; NAS down 53 and S&P down 28; even GLD was down 23…nothing good ahead of Friday’s job numbers and did we mention Paulson spoke again today? (as good an indicator for down markets as any, the Harry Reid of downers HA!)…yeah he is all for FAN FRED being used to buy up Mortgage at 4.00% now…basically just talking to talk as they continue to do nada about housing and the bad economic data snowballs…

President-elect Barack Obama is the “decision maker” in spending the rest of a $700 billion financial bailout fund, but should consider continuing bank capital injections, outgoing U.S. Treasury Secretary Henry Paulson said Wednesday.

Meredith Whitney had a killer report out on the ongoing need for capital injections to the financials today as well…

Homebuilders are on the Hill asking for stimulus to include tax breaks for homebuyers and a low interest rate of 2.99% for first 6 mos on 30 yr mortgages…see Diana Olick of CNBC video update here

and CNBC’s Steve Liesman reports on FastMoney that ING projections suggest we could soon reach a point where we have 1 million job losses a month…meanwhile back in progressive land Paul Krugman is worried that PEBO economic stimulus could reduce unemployment by only 1-2% points or less, that simply isn’t good enough..click on our blogroll to read Paul’s column….

Original Post: DOW down 160…okay someone compare the Satyam logo and that outside the Enron building and tell me I am not seeing the pattern here, Oy!

satyam

Here at MiM we have personal stakes in outsourcing IT jobs to India, in the sense that many of OUR jobs keep getting outsourced, so we are biased, but here is the report coming over the wires:

Via CNBC:

The chairman of India’s Satyam Computer Services quit Wednesday after admitting the company’s profits had been doctored for several years, shaking faith in the country’s corporate giants as shares of the software services provider plunged nearly 80 percent.

The company’s balance sheet — riddled with “fictitious” assets and “non existent” cash — contained a $1 billion hole that could no longer be concealed after a deal intended to save the struggling company was scuppered, Chairman B. Ramalinga Raju said in a letter to the board.

See CNBC video here, November 3rd, one of MANY interviews given by Satyam Chairman on the joy and beauty of outsourcing, all while knowing his books were completely fraudulent, very bad man IMO. Int his one he claims his earnings are UP 28%, yeah right okayyy

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January 7, 2009. Tags: , , , , , , , , , , , . Economy, Finance, Immigration, Labor Department, Unemployment Statistics, Wall St. 2 comments.

Reid Flip Flop Video Added: Senate Dems to seat Burris….

Via AP:

Changing course, Senate Democrats emerged from a meeting with Senate appointee Roland Burris on Wednesday and set forth the legal steps under which they’re willing to welcome him into the Senate in President-elect Barack Obama’s vacated spot. (Jan. 7)

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January 7, 2009. Tags: , , , , , , . Obama Administration, Politics. 1 comment.

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