4 Big Mortgage Backers Swim in Ocean of Debt – NYTimes.com
4 Big Mortgage Backers Swim in Ocean of Debt – NYTimes.com.
Even as the biggest banks repay their government debt in what is being heralded as a successful rescue program, four troubled giants of the financial world remain on government life support.
These companies, the American International Group, Fannie Mae, Freddie Mac and GMAC, are not only unable to repay the government, they are in need of continuing infusions that make them look increasingly like long-term wards of the state.
Things will not be getting better anytime soon.
In House, Many Spoke With One Voice – Lobbyists’ – NYTimes.com
In House, Many Spoke With One Voice – Lobbyists’ – NYTimes.com.
Statements by more than a dozen lawmakers were ghostwritten, in whole or in part, by Washington lobbyists working for Genentech, one of the world’s largest biotechnology companies.
E-mail messages obtained by The New York Times show that the lobbyists drafted one statement for Democrats and another for Republicans.
And we wonder why people are fed up with Congress.
Senate health care bill – insurance companies can kick you out if you get cancer and treatment costs too much: AMERICAblog
AMERICAblog News| A great nation deserves the truth.
“A loophole in the Senate health care bill would let insurers place annual dollar limits on medical care for people struggling with costly illnesses such as cancer,” reports the AP. The Senate Finance Committee barred annual caps altogether. The merged Senate bill only erases “unreasonable” annual caps. What’s “unreasonable?” Hard to say.
Keep It In Your Pants!
Looks like Tiger Woods has joined a nice long list of guys with $$ who can’t keep it in there pants!
Others we know of recently:
and of course Bill Clinton!
Any body else I missed?
Healthcare Debate
Just read an article in The Week which describes the universal healthcare program in Massachusetts which sounds strongly similar to the program the Feds want to pass now. One of the main points of the article is that Massachusetts, when originally drafting and passing the plan, never took into account the rising costs of healthcare. Thus, when the recession hit, more people were out of work, more people applied for the state subsidies for insurance, and tapped out the insurance fund. The rising healthcare costs fueled a $9 Billion gap, which took away money from education, public safety, and other services.
Similarly, the government plan fails to address the rising costs of healthcare. No way are they going to discuss putting caps or limits on payouts if they want the healthcare industry on board with the plan.
The Word On The Street: Pyrrhic
Is it just me or does it seems like the word “Pyrrhic” is everywhere? Every time I read a news article lately, it seems as though the word “Pyrrhic” gets implanted.
Forced To Buy Health Insurance
Under Sen. Ron Wyden’s the proposed Senate Bill, people who refuse to buy health insurance will be fined over $1000/year.
I’m sorry, I didn’t vote Democratic so they can fine me for not choosing health insurance. As I have said before, I shouldn’t be forced to foot the bill for folks who choose to eat fast food three times a day. The cost for these programs will only go up. And they continue to take more money out of my paycheck to pay for these programs. Yet my pay isn’t going up that fast, which means I’m making less.
Why not have individual health insurance markets? I can choose my car insurance, life insurance, cell phone provider, internet provider, cable tv provider, etc? Competition would create lower prices.
In Europe, where health care is free and state run, many experts say we may be going down a slippery slope.
Fake AIG Outrage
And I thought “Change” was coming. Sounds like it’s the same ‘ol situation. Obama and pals are “outraged” at the bonuses AIG execs received while at the same time they’ve taken the company to the crapper. However, Senator Dodd, as well as Treasury Secretary Tim Geitner knew about the bonus payouts, new they were going out, and even approved of it.
And yet now they’re “Outraged”. Senator Grassley even suggested that the AIG execs to commit suicide.
Look, AIG shouldn’t have given out bonuses after claiming that they needed a bailout. But at the same time, we have a bunch of charlatans in Washington who are feigning outrage just because the American people who elected these jokers are outraged. They are reactive instead of being proactive.
