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From the daily archives: Thursday, October 16, 2008
And we get to hear Hank-the-Bank Paulson yodel!
Swiss authorities moved to stabilize their storied banking system today, agreeing to take $60 billion in troubled assets off the books of financial giant UBS and put them into a special government-backed fund, in a deal financed at least initially by the U.S. Federal Reserve.
In a forceful example of how dollars from the Fed are being put to work in the global financial system, the Swiss National Bank said it would use up to $54 billion from the Fed to buy “illiquid securities” from UBS.
The Fed announced earlier this week that it would provide dollars on an unlimited basis to a consortium of foreign banks, including Switzerland’s, in hopes of freeing up world credit markets that have all but ceased to function. Though the foreign banks post their own currency with the Fed in return, protecting the balance sheet of the U.S. central bank, the Swiss announcement said access to dollars through the Fed allowed them to pursue a major bailout that might have been hard to finance otherwise.
Sarah Palin is certainly full of something, but it ain’t the Holy Spirit, kid.
[youtube]http://ie.youtube.com/watch?v=zRqcfqiXCX0[/youtube]
Inland GOP mailing depicts Obama’s face on food stamp
The latest newsletter by an Inland Republican women’s group depicts Democratic presidential candidate Barack Obama surrounded by a watermelon, ribs and a bucket of fried chicken, prompting outrage in political circles.
The October newsletter by the Chaffey Community Republican Women, Federated says if Obama is elected his image will appear on food stamps — instead of dollar bills like other presidents. The statement is followed by an illustration of “Obama Bucks” — a phony $10 bill featuring Obama’s face on a donkey’s body, labeled “United States Food Stamps.”
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Sheila Raines, an African-American member of the club, was the first person to complain to Fedele about the newsletter. Raines, of San Bernardino, said she has worked hard to try to convince other minorities to join the Republican Party and now she feels betrayed.
“This is what keeps African-Americans from joining the Republican Party,” she said. “I’m really hurt. I cried for 45 minutes.”
more: Inland GOP mailing depicts Obama’s face on food stamp | Southern California News
US Republican presidential nominee Senator John McCain (R-AZ) reacts to
almost heading the wrong way off the stage after shaking hands with
Democratic presidential nominee Senator Barack Obama (D-IL) at the
conclusion of the final presidential debate at Hofstra University in
Hempstead, New York, October 15, 2008. By Emmanuel Dunand/AFP/Getty.
today’s moodcat
