D.C. turns on Obama

The town is turning on President Obama — and this is very bad news for this White House.

Republicans have waited five years for the moment to put the screws to Obama — and they have one-third of all congressional committees on the case now. Establishment Democrats, never big fans of this president to begin with, are starting to speak out. And reporters are tripping over themselves to condemn lies, bullying [...]

Biden Vows Obama Will Use Executive Orders To Further Gun Control After Senate Failure…

On conference call with stakeholders, Biden says Obama will carry the gun control fight forward on his own. Updated: The White House says it is only implementing some of the executive actions Obama announced in January.

WASHINGTON — Vice President Biden told White House allies in the gun control fight Thursday that President Obama will be announcing new executive actions on gun violence in the days after the Senate voted down a [...]

Congressman: Immigration Bill ‘Worse Than We Thought’… Legalizes Relatives and Previously Deported… 844 Page Bill Would Take 3 Days to Read NONSTOP Before Friday Morning Hearing… GROUPS: ‘We’re going to fight’

Rep. Lamar Smith: Immigration Bill ‘Worse Than We Thought,’ Legalizes Relatives and Previously Deported

Rep. Lamar Smith (R-Texas) said today that the Senate immigration bill is even worse than feared, since it legalizes illegals’ relatives and even those previously deported:

“It’s hard to believe, but the Senate immigration bill is worse than we thought. Despite assurances, the border is not secured before almost everyone in the country illegally is given amnesty.  [...]

BANKRUPTCY LAWYER TAKES OVER IN DETROIT

DETROIT—Michigan’s governor on Thursday named a financial overseer of Detroit, who said his turnaround work could be completed in as little as six months if all of the stakeholders in the deeply troubled city work together.

http://online.wsj.com/article/….html

Congress mulls letting UN regulate Internet

via The hill:

 

House lawmakers will consider an international proposal next week to give the United Nations more control over the Internet.

The proposal is backed by China, Russia, Brazil, India and other UN members, and would give the UN’s International Telecommunication Union (ITU) more control over the governance of the Internet.

 

It’s an unpopular idea with lawmakers on both sides of the aisle in Congress, and officials with the Obama administration have [...]

Fixing the current crisis causing future one. How coming a financial tsunami can be stopped?

Western states are no longer able to repay its debt. Overwhelmingly, the debt burden of a number of stakeholders is predicated on the existence of large-scale and long-term commitments that are at the core of the overall social contract prevalent in the Western world and beyond. The policy approaches employed thus far, whether ‘quantitative easing’ or ‘twisting’ have not helped lower the debt waters — indeed, they have made matters worse. Instead [...]

HB363: Utah Gov. vetoes abstinence-only sex ed bill

Gov. Gary Herbert vetoed a controversial bill Friday evening that would have allowed school districts to drop sex education and required abstinence-only instruction in those that kept it.

It was a decision that followed pressure by thousands of Utahns on both sides of the issue since lawmakers passed HB363 last week. Utahns flooded the governor’s office with thousands of letters; more than 40,000 people signed an online petition against it; hundreds [...]

Carney: Obama Didn’t Turn Down The Keystone Pipeline

White House press secretary Jay Carney first says Republicans “forced” President Obama to deny the permit for the Keystone XL pipeline. Later in his press briefing, Carney says Obama didn’t turn down the pipeline.

“In terms of Keystone, as you all know, the history here is pretty clear. And the fact is because Republicans decided to play political with Keystone, their action essentially forced the administration to deny the permit process [...]

At a briefing ahead of Thursday’s launch, David Blood said capitalism has been blighted with short-termism and an obsession with instant investment results, which had ramped up market volatility, widened the gap between rich and poor and deflected attention from the deepening climate crisis.

The former CEO of Goldman Sachs Asset Management put forward five key actions which he hoped would revive the discussion on how to clean up capitalism and put companies, investors and stakeholders on the path towards long-term, sustainable profit.

These include ending quarterly earnings guidance from companies, which the authors said incentivized executives and investors to base decisions on short-term factors at the expense of longer-term objectives.

Companies have also been encouraged [...]

Why Isn’t Illinois A Bigger Story Than Greece?

John Rubino
Dollar Collapse
January 23, 2012

As the Greek default (and it is a default no matter what they end up calling it) is finalized this week, the consensus seems to be that failure to reach a deal would cause a global financial apocalypse.

That may be true. And if it is, why aren’t we more worried about Illinois? It’s more or less the same size as Greece, its finances are in the same generally [...]

Megawin. Republicans ask Leader Reid to cancel vote on PIPA.

by Donny Shaw

In an incredible turn of events, six Republican Senators have asked Majority Leader Harry Reid not to hold a vote on PIPA, the Senate version of SOPA.

They write, “Prior to committee action, some members expressed substantive concerns about the bill, and there was a commitment to resolve them prior to floor consideration. That resolution has not yet occurred.”

And as an amazing validation of the grassroots response to SOPA, led by groups like Fight for [...]

I recently visited China for the first time this fall and was struck by 2 things:

1. the first is how helpful, kind, patient, welcoming and curious the average Chinese person is. For instance I was stopped 3 times over the course of my 10 days by native chinese who wanted to buy me lunch or coffee just so they could sit down with me and practice thier English. And when my friends and I went to see a local live Chinese band, they played a [...]

Panic Behind The MF Scenes As Company Refuses To Disclose Information To Regulators Even In Death

by ZH

As in life, so in death. Reuters reports that “U.S. regulators are unhappy with the failure of MF Global Holdings Ltd to provide them with the required data and records, a source close to one regulator told Reuters on Monday. “So far they’ve been very disappointed with the cooperation in the fulsomeness of records and data from MF,” the source said, noting regulators have been working with the firm since [...]

We’re powerless against bank lobbyists!

It’s easy enough to determine which political persuasion is behind this chart. Perhaps the chart was made before ObamaCare?

(Source)

Well, I am little worried that this chart I am about to post has been prepared by someone with a political axe to grind, but with that risk noted, I will say that directionally nothing in it strikes me as overtly wrong.

If this chart is directionally true, and it [...]