Archive for the ‘legacy’ Category

Stocks manage moderate gain after erratic session: weak demand for toxic assets

March 25, 2009

The Geithner plan is now on the market….and the demand for “toxic assets” was weak on day one…

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Wall Street has managed a moderate gain after an attack of nerves had investors giving back a big early advance and then barreling back into the market right before the close.

Tim Paradis, AP Business Writer

Trading was extremely erratic — the Dow Jones industrials rose as much as 203 points in early trading in response to upbeat economic data, then fell nearly 110 during the afternoon before closing up 90. Analysts said weak demand during an auction of government debt stirred up worries about how easily Washington will be able to raise money to fund its economic rescue program. The fear in the market is that the government might not be able to easily raise the hundreds of billions of dollars it needs.

The day shows how fragile Wall Street remains despite a two-week rally that saw the Dow regain more than 1,000 points. The market was pulled in different by opposing forces Wednesday that led to choppy trading — which may well be the pattern for stocks going forward.

Read the rest:
http://finance.yahoo.com/news/St
ocks-manage-moderate-gain-apf-1
4746401.html

Related:
 Obama, Economy: So Much Uncertainty Spins Off More…. Uncertainty

Michelle Malkin:
http://michellemalkin.com/2009/0
3/25/wonderboy-strikes-again/

http://americanheartland.wordpress.c
om/2009/03/25/325-voices-from-t
he-heartland-a-business-perspective/

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Bush Lost All Public Trust and Presidency In 2005 During Katrina Aftermath

December 30, 2008

Hurricane Katrina not only pulverized the Gulf Coast in 2005, it knocked the bully pulpit out from under President George W. Bush, according to two former advisers who spoke candidly about the political impact of the government’s poor handling of the natural disaster.

“Katrina to me was the tipping point,” said Matthew Dowd, Bush’s pollster and chief strategist for the 2004 presidential campaign. “The president broke his bond with the public. Once that bond was broken, he no longer had the capacity to talk to the American public. State of the Union addresses? It didn’t matter. Legislative initiatives? It didn’t matter. P.R.? It didn’t matter. Travel? It didn’t matter.”

Dan Bartlett, former White House communications director and later counselor to the president, said: “Politically, it was the final nail in the coffin.”

Their comments are a part of an oral history of the Bush White House that Vanity Fair magazine compiled for its February issue, which hits newsstands in New York and Los Angeles on Wednesday, and nationally on Jan. 6. Vanity Fair published comments by current and former government officials, foreign ministers, campaign strategists and numerous others on topics that included Iraq, the anthrax attacks, the economy and immigration.

Read the rest:
http://news.yahoo.com/s/ap/20081230/ap_
on_go_pr_wh/bush_advisers_speak_out

Lasting Legacy 2008 Part II

December 24, 2008

Another of those that passed away this year reminded me to question all things and all people.

Tim Russert made me think and for that I am very grateful.

Russert, the long time host of “Meet the Press” on NBC each Sunday, died this last June 13.

He probably died from working too hard to make us all think and not taking enough care of himself.

We are all diminished by his loss.

Tim Russert

Alex Wong / Getty Images file

Russert caused me to rething, delve into and research hundreds of issues and topics.  But one interview with Vice President Dick Cheney stands out for me.

I was heavily involved with couter-terror activities in the tribal areas of Pakistan.  The Taliban and al-Qaeda, had, in my opinion, taken the upper hand and President Musharraf and his army had allowed terrorists to retain their valuable refuge.

On Sunday, September 10, 2006, Tim hosted Vice President Cheny who made an extremely long supporting speech on the importance of General Musharraf to the United States.

I heard about this while in Pakistan working near my friend Muhammad.

Muhammad is now dead, killed by the Taliban, and Musharraf is no longer the kingpin in Pakistan.

But it was Tim Russert’s careful, probing inquiry with Cheney that opened my eyes to the growing troubles between the U.S. and Pakistan.

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Part of Vice President Cheney’s Remarks on “Meet the Press” with Tim Russert on Sunday, September 10, 2006:

“President Musharraf has been a great ally. There was, prior to 9/11, a close relationship between the Pakistan intelligence services and the Taliban. Pakistan was one of only three nations that recognized, diplomatically recognized the government of Afghanistan at that particular time. But the fact is Musharraf has put his neck on the line in order to be effective in going after the extremist elements including al-Qaeda and including the Taliban in Pakistan. There have been three attempts on his life, two of those by al-Qaeda over the course of the last three years. This is a man who has demonstrated great courage under very difficult political circumstances and has been a great ally for the United States”.

“So there’s no question in that area along the Afghan/Pakistan border is something of a no man’s land, it has been for centuries. It’s extraordinarily rough territory. People there who move back and forth across the border, they were smuggling goods before there was concern about, about terrorism. But we need to continue to work the problem. Musharraf just visited Karzai in, in Kabul this past week, they’re both going to be here during the course of the U.N. General Assembly meetings over the course of the next few weeks. We worked that area very hard, and the Paks have been great allies in that effort.”

“Pakistan, we’ve gone in and worked closely with Musharraf to take down al-Qaeda. Saudi Arabia, same thing. In all of those cases, it’s been a matter of getting the locals into the fight to prevail over al-Qaeda and al-Qaeda-related tyrants.”

“Think of Musharraf who puts his neck on the line every day he goes to work, when there’ve been attempts on his life because of his support for our position. And they look over here and they see the United States that’s made a commitment to the Iraqis, that’s gone in and taken down the old regime, worked to set up a democracy, worked to set up security forces, and all of a sudden we say it’s too tough, we’re going home. What’s Karzai going to think up in Kabul? Is he going to have any confidence at all that he can trust the United States, that in fact we’re there to get the job done? What about Musharraf? Or is Musharraf and those people you’re talking about who are on the fence in Afghanistan and elsewhere going to say, ‘My gosh, the United States hasn’t got the stomach for the fight. Bin Laden’s right, al-Qaeda’s right, the United States has lost its will and will not complete the mission,’ and it will damage our capabilities and all of those other war fronts, if you will, in the global war on terror.”