Welcome Speaker Boehner! Go Away Pelosi, far, far away…
Update: Boehner full speech and swearing in courtesy of theRightScoop.com
Jeebus I thought she would never shut up….
God Bless Speaker Boehner and the new Majority of the 112th Congress, may you have the courage of your convictions, and convictions that are unshakeable in the face of the D.C. Machine. Stick to the Constitution, it will never steer you wrong.
For those Critters about to rock, we salute you~
What do you do for $:Fed reveals partial data on emergency lending facilities, still mum on discount window
Update: Well, it would appear absolutely EVERYONE got a bailout except the middle class. And I do mean everyone.
Zero Hedge breaks down the 35 foreign banks that the Fed bailed out here.
…$1.27 trillion in agency MBS was traded by foreign banks…
led by the $410 billion by German-based Deutsche Bank ..
…the $382 billion by the Switzerland-based Credit Suisse.
Other highlights of the disclosure include that GE among other commercial endeavors got $ from the Fed, and that the Fed has essentially been taking all the polluted assets from everyone with a pulse (again, except for the US middle class consumer/homeowner who has been lectured about ‘moral hazard’ and whose house has been foreclosed upon):
.the Federal Reserve purchased $1.25 trillion in agency MBS from all participating banks.
Goldman Sachs borrowed 84 times from Fed’s dealer facility (PDCF) from Sept. 15 to 11/26/08 for amounts ranging from $100m to $8b
Bank of America borrowed 118 times from the PDCF from Sept 18 2008 to May 2009, in amount ranging from $375 million to $11 billion.
And even CA Pension funds got in on the bail out action, per ZeroHedge:
Looking at the TALF data, we see that the biggest borrower by subscription is Calpers, with a total of about $5.4 billion
Federal Reserve data breakdown and press release here. More from WSJ here
…The data released Wednesday include short-term liquidity moves for financial institutions and companies made as part of the Fed’s traditional role as lender of last resort, liquidity injections directly to borrowers and investors in key credit markets and financial support for Bear Stearns Cos. and American International Group Inc. (See all the data from the Fed)
Fed officials reported details on more than 21,000 transactions from December 2007 to July 2010. The emergency programs caused the size of the Fed’s balance sheet to swell. (See a history of the Fed’s lending)…
Demon Sheep II – Dirty Deeds
Vodpod videos no longer available.
h/t RedState who also has a MUST SEE photoshop of Harry Reid up today….
Whiskey on ice: Shackleton’s Antarctic 100 year old Mackinlay Scotch whiskey recovered
Video Update:
SCOTUS allows Chrysler sale to Fiat: Rejects request to stop sale…
Update: CNBC
…The high court rejected a request from Indiana pension funds and other opponents of the sale to delay the deal while they challenge Chrysler’s sale to a group led by Fiat, a union-aligned trust and the U.S. and Canadian governments…
The Court did not have 4 Justices who felt the Indiana Pension funds had standing or claim to challenge the sale Phil LeBeau is reporting now..ergo the stay is lifted..Gee if only the Senior Secured Bondholders had COJONES and had filed, I am looking at you Perrella Weinberg….
…coming from Reuters via Larry Kudlow live on CNBC….
I know I play this one a lot, but it IS perfectly appropriate here….some say I always find AC/DC appropriate…well they are folks, they are…for every conceivable occasion or happening….
Courtesy of Longhorn2X
AC/DC, with the great Bon Scott, playing “Highway To Hell” live in Arnhem. 1979
Update: Spratt Budget Opening Remarks…Market Mover Wednesday: Congressional Budget…
They begin with, it’s all Bush’s fault, and it’s all downhill from there, the House is hopeless, but Conrad in the Senate looks to be slicing away at some of the spending spree..sounds like Spratt is on Xanax….maybe Pelosi doped him to get him to Just Say Yes….
Congress to release its version of Teh Budget today…..
AP aka Hack Central:
Senate Budget Committee Chairman Kent Conrad, D-N.D., announced a budget blueprint Tuesday that would scrap Obama’s signature tax cut after 2010 while employing some sleight of hand to cut the annual budget deficit to a sustainable level….
… they still promise to award big budget increases to education and clean energy programs, while assuming Obama’s plans to overhaul the U.S. health care system advance……
It’s also becoming clear that Obama’s controversial global warming initiative has experienced a setback, as neither House nor Senate Democrats are directly incorporating into their budget plans Obama’s controversial “cap-and-trade” system for auctioning permits to emit greenhouse gases.
In the House, Budget Chairman John Spratt Jr., D-S.C., said his companion blueprint would employ fast-track procedures to allow Obama’s overhaul of the U.S. health care system to pass Congress without the threat of a GOP filibuster in the Senate….
Neither budget includes Obama’s $250 billion set-aside for more bailouts of banks and other firms.
They have a web page, good grief!
HA!! They finish on TAX DAY the day of our big TEA PARTY HA!!
First Monday in February- President submits budget to Congress.
February 15 -Congressional Budget Office submits economic and budget
outlook report to Budget Committees.
Six weeks after President
submits budget- Committees submit views and estimates to Budget Committees.
April 1 -Senate Budget Committee reports budget resolution.
April 15- Congress completes action on budget resolution.
Mortgage rates are falling 15 yr is around 4.43 and 30 yr 4.64 ish…..
Think anyone informed TOTUS the dollar has actually been falling? Yeah probably not.
Moderate in the Middle 