Archive for the ‘bank’ Category

ACORN Protesters At Homes of AIG Execs Similar To Lawlessness For UK Bank Exec?

March 25, 2009

Politics is one thing.  But sending people to protest at people’s homes seems an invitation to lawless behavior to many…

When ACORN funded protests at the homes of AIG executives last weekend, most of the mainstream media was silent.  Those that reported on the protests didn’t mention ACORN at all.

And certain congressmen fueled these protests: asking for the names and addresses of AIG workers.

For what purpose?

Paying protesters can only lead to trouble.  Sending protesters to private homes can only make homeowers and neighbors fearful which could mean the police get involved and confrontations occur.

We condemn such conduct: no matter how much we seem to think someone has wronged us; sending protesters to his house is out of bounds and invites trouble….

Related:
Did ACORN Organize Protests At Homes of AIG Execs?

 Protesters At Homes Of AIG Execs (Organized by ACORN?)

See Michelle Malkin:

http://michellemalkin.com/2009/0
3/25/the-rule-of-the-mob/

ACORN at the homes of AIG execs….

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The Times (UK)

An anti-capitalist vigilante group calling itself Bank Bosses Are Criminals has claimed responsibility for an attack on the home and car of Sir Fred Goodwin, the former chief executive of the Royal Bank of Scotland.

The ex-banker’s £3 million Edinburgh house was targeted in the early hours, with at least four ground-floor windows smashed and a black Mercedes vandalised. Police were called at around 4.15am to Morningside, a leafy suburb of the Scottish capital lined with substantial, stone-built homes.

A storm of controversy has engulfed Sir Fred over the £16.9 million pension he negotiated as he was made to leave RBS last October for his part in bringing the bank to its knees. The 50-year-old financier has already started to collect an annual pension of around £700,000, and refused invitations to hand it back..

Less than an hour after the attack, an e-mail was sent to local media outlets, signed by Moira McLeod, claiming responsibility and threatening further vigilante assaults. The e-mail account used to send the warning was named “Bank Bosses Are Criminals”.

Read the rest:
http://business.timesonline.co.uk/tol
/business/industry_sectors/bankin
g_and_finance/article5974253.ece

http://nicedeb.wordpress.com/2
009/03/21/acorn-aig-protest-fail/

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Pelosi’s Lawlessness

And then we have Nancy Pelosi, the third in line to the presidency, virtually telling illegal immigrants to violate the law: that the law is “Un-American.”

Well, here’s more “anything to win” — changing law by illegal acts and shenanigans.

If Nancy wants to make good law; she is in the catbird seat to do so.  The Speaker of the House knows how to make good law and how to defeat those that stand in her way too….

Pelosi made the stimulus bill and Obama has already offered her the health care revolution.  But she’s not satisfied yet: now she’ll rewrite immigration law by not picking up a pen: she’ll use the microphone.

Obama, Pelosi: Anything to Win

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When I wrote last week’s column, before the AIG fury erupted, I argued that we in Washington should dial back our rhetoric because public passions were already dangerously high — and we have so many hard decisions in probably hard times ahead of us that we need to face as a united people. Little did I expect that within hours of my writing those words, congressmen would be calling for the names and addresses of AIG employees to be made public — even though the congressmen had been told that the lives of the employees’ children had been threatened as a result of the uproar. Congressmen who would risk the lives of innocent children to save their own political skins are not likely to provide noble leadership in the months and years to come.

By Tony Blankley
http://www.rasmussenreports.com/public_conte
nt/political_commentary/commentary_by_ton
y_blankley/the_most_dangerous_city_in_the_world

http://lewlew.wordpress.com/200
9/03/25/a-big-stick-but-no-carrot/

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Bank bailout could cost $4 trillion

January 28, 2009

The cost of the bank bailout is likely to be much higher than $700 billion.

While the Obama administration hasn’t asked Congress for more money yet, some experts warn that government spending on support for struggling financial services companies will ultimately reach into the trillions of dollars.

The first half of the controversial $700 billion program to help banks has already been spent — mostly on buying up preferred shares of troubled banks.

By Colin Barr, senior writer
Fortune

Part of the remaining $350 billion may be used to purchase troubled assets from bank balance sheets and place them in what Federal Deposit Insurance Corp. chief Sheila Bair has dubbed an “aggregator bank.”

And while taxpayers will surely recover some of that sum eventually, more money is likely to be needed in order for the bank rescue to work.

“The amount of working capital you’d expect the government to take into this would be around $3 trillion to $4 trillion,” said Simon Johnson, a senior fellow at the Peterson Institute for International Economics and author of its Baseline Scenario financial crisis blog.

Johnson, who until last year was the chief economist at the International Monetary Fund, said that banks will need more rounds of capital from the government because their cushion against losses is too thin. He also said that there is a need to get rid of some of the toxic assets weighing on financial institutions before they can recover.

Read the rest:
http://money.cnn.com/2009/01/27/news
/bigger.bailout.fortune/index.htm?postve
rsion=2009012711

Obama team weighs government bank to ease crisis

January 18, 2009

The incoming Obama administration is considering setting up a government-run bank to acquire bad assets clogging the financial system, a person familiar with the Obama team’s thinking said on Saturday.

The U.S. Federal Reserve, Treasury and Federal Deposit Insurance Corp have been in talks about ways to ease a banking crisis that is once again deepening — and a government-run “aggregator bank” is among the options.

By Tim Ahmann
Reuters

Outgoing Treasury Secretary Henry Paulson and FDIC Chairman Sheila Bair both said on Friday a government bank was one of a number of ideas U.S. regulators had been discussing.

The source said advisers to President-elect Barack Obama, who takes office on Tuesday, were also considering the idea of an aggregator bank among a range of options that could be pursued.

 
Above: Printing Money?

David Axelrod, a top adviser to Obama, told Reuters the new administration would have something to say about a fresh approach to the financial crisis in “the next few days.”

“I’m not going to get into the structure of how we’re going to approach the revamped financial rescue package,” Axelrod said after speaking to a conference of mayors in Washington.

“What we have to do is approach this with a lot more transparency on the front end.”

Read the rest:
In Britain’s Bank Bailout, Taxpayers Face Years of Debt: How About in the US?

Read the rest:
http://finance.yahoo.com/news/Obama-team-
weighs-government-rb-14091318.html