Archive for the ‘Dubai’ Category

Obama Spending $1 Billion an Hour of Borrowed Money in First 50 Days

March 11, 2009

“In just 50 days, Congress has voted to spend about $1.2 trillion between the Stimulus and the Omnibus,” Senate Minority Leader Mitch McConnell (R-Ky.) said. “To put that in perspective, that’s about $24 billion a day, or about $1 billion an hour—most of it borrowed. There’s simply no question: government spending has spun out of control.”

And, sadly, the economy has not shown new signs of life…..

On Obama:

“No one wants him to fail,” McConnell, 67, said in an interview. “But saying ‘no’ to bad policy is not saying ‘no’ to everything.”

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Senate Minority Leader Mitch McConnell (R-Ky.) has come up with a vivid new way to express his contention that the nation is spending way too much money it doesn’t have.

McConnell includes the tweaks in his opening remarks on the Senate floor on the 51st day that President Obama has been in office.

“In just 50 days, Congress has voted to spend about $1.2 trillion between the Stimulus and the Omnibus,” McConnell says. “To put that in perspective, that’s about $24 billion a day, or about $1 billion an hour—most of it borrowed. There’s simply no question: government spending has spun out of control.”

From Politico:
http://www.politico.com/new
s/stories/0309/19884.html

and
http://news.yahoo.com/s/bloom
berg/20090311/pl_bloomberg
/a9ygbyjyi4dq

And where has the Bank Bailout (TARP) money gone?
.
Ask Cleveland Democratic Rep. Dennis Kucinich.

Kucinich staffers questioned the propriety of an $8 billion Citigroup Inc. loan to Dubai, a $7 billion Bank of America investment in China Construction Bank Corp., and a $1 billion investment in India by J.P. Morgan. The three financial institutions got a total of $120 billion in tax dollars through the bailout program.

Although the transactions are not illegal,  Kucinich questioned the wisdom of directing money to foreign governments rather than the domestic economy.

“How does a multibillion financing deal to Dubai ease the liquidity crisis in the United States of America?” Kucinich asked at the subcommittee hearing. “What about other kinds of uses of funds: corporate spending on lavish parties, the continuation of contractual agreements to pay for naming rights on professional sports stadiums, corporate sporting event sponsorships?”

The memo also cited “significant shortcomings” in Treasury Department oversight over money dispersed through TARP, and claimed the department hasn’t questioned any TARP recipient about its use of the money.

Nancy Pelosi is already saying the nation will need another stimulus bill before we get out of this recession….

The $787 billion economic-stimulus plan was followed by today’s omnibus for $410 billion….

The interest payment on the debt from the stimulus and the omnibus will be about $500 billion…..

Elect me after I promised to end earmarks and “business as usual.”  Priceless?  Hardly.  Hypocracy.  Much of the price will be paid by your children and grandchildren.  John McCain calls that “generational theft.”  Not “priceless.”

Related:
President may Ask For “Global Bailout”
Obama, Geithner: recession requires global action 

Even Democrats Showing Signs Of Economic Despair, Worry at White House Inertia

http://michellemalkin.com/2009/03/1
1/earmark-zilla-futuregen-boondoggle-
grows-even-bigger/

http://giovanniworld.wordpress.com
/2009/03/11/howard-fineman-grows-up/

Hypocracy President Signs Omnibus, 9,000 Earmarks, Claims “Honest Budget”

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Obama Envoy Mitchell’s Firm Lobbied for Dubai’s Ruler

January 27, 2009

George Mitchell, President Barack Obama’s special Middle East troubleshooter, was chairman of a law firm that was paid about $8 million representing Dubai’s ruler in connection with a child-trafficking lawsuit.

From Bloomberg

The DLA Piper law firm did legal and lobbying work on the case, which alleged that Dubai’s Sheikh Mohammed bin Rashid al- Maktoum and another official used children kidnapped from other countries to ride as jockeys in camel races. The firm lobbied federal agencies, members of the U.S. House and about two dozen Senate offices, including those of Obama, Vice President Joe Biden and Secretary of State Hillary Clinton in 2006 and 2007, according to Justice Department foreign-agent disclosures.

Mitchell, 75, who isn’t a registered lobbyist, didn’t lobby either on this issue or for Dubai generally. DLA Piper partner Bill Minor said in an e-mail that Mitchell, a former Democratic senator from Maine, mainly focused on growth and management at the firm of almost 4,000 attorneys and 65 offices worldwide, and high-profile projects such as an investigation of steroid use in Major League Baseball.

Read the rest:
http://www.bloomberg.com/apps/news?pid=206
01087&sid=aa7hdtvtfYxc&refer=worldwide

Best Excuse Ever? Opium Was Herbal Tea?

January 12, 2009

Pakistan’s troubled fast bowler [cricket] Mohammad Asif, who has faced multiple doping charges, told prosecutors in Dubai he thought the opium found in his possession was a herbal remedy, a report showed Sunday.

Asif, 26, was detained in the Gulf emirate for nearly three weeks in June last year for possession of a banned substance before public prosecutors determined the amount of the drugs was insignificant and deported him.

AFP

A prosecutors’ report, a copy of which was obtained by AFP, reveals Asif — who faces a two-year ban from an Indian doping tribunal on a separate offence — confessed to using the substance, but said he did not know it was opium.

“I think it’s a herbal dark substance found with me which I use for energy… to reduce blood pressure and gain energy. I have obtained it from one of the public curers in Pakistan,” the report quoted Asif as saying.

“I started using it once every year, by one small piece each time when necessary,” he told investigators.

“I did not intend to bring it to the country and I don’t know whether it is a narcotic drug or otherwise, and I don’t know whether it is prohibited in the UAE or not.”

Read the rest:
http://news.yahoo.com/s/afp/20090111/wl_sth
asia_afp/cricketpakasif_newsmlmmd

Egypt, Dubai Cancel New Year Celebrations “In Solidarity with Palestinians”

December 31, 2008

Egypt has cancelled official New Year’s Eve events in solidarity with the suffering of the Palestinians being “massacred” in Gaza, the state-owned Al-Ahram daily reported on Wednesday.

“In solidarity with the painful events in the Palestinian territories and the massacres which Gazans are faced with … the ministries of culture and information have decided to cancel New Year’s festivities,” the paper said.

Cancelled events include a special concert by famed Egyptian singer Mohammed Munir set to be held at Cairo’s Opera House and a variety performance hosted by the ministry of information due to be broadcast on state television.

Read the rest from AFP:
http://www.breitbart.com/article.php?
id=081231092343.hyi46t26&sho
w_article=1

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Dubai Cancels New Year Events

By
The Times (UK)

Dubai’s opulent, multimillion-pound New Year’s Eve celebrations have been cancelled due to the Gaza violence, leaving hordes of expatriates hastily making alternative plans.

Sheikh Mohammed bin Rashid Al Maktoum, ruler of the Gulf state, called off festivities late last night.

He said “all public New Year’s celebrations” should be stopped “in solidarity with the Palestinian people, who are currently enduring death, suffering and destruction in Gaza”.

The city, home to thousands of Western expatriate businesspeople and tourists, usually holds spectacular public firework displays and open-air entertainments worth millions.

Read the rest:
http://www.timesonline.co.uk/tol/news/
world/middle_east/article5423839.ece

New Year's Eve fireworks explode above the Sydney Harbour ... 
New Year’s Eve fireworks explode above the Sydney Harbour Bridge and the Opera House. A record crowd of up to 1.5 million people have kicked off global New Year celebrations with a fireworks extravaganza over Sydney’s iconic harbour and Opera House.(AFP/Torsten Blackwood)