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13 Jan 2012 10:33

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Politics: Why Obama wants Congress to allow him to merge federal agencies

  • what President Obama plans to ask Congress for the right to merge together a number of sprawling trade and commerce agencies with somewhat similar purposes.
  • why It’s an effort to cut resources and minimize overlap, and the move would save $3 billion over 10 years. The election-year timing is also a consideration for Obama. source
Posted by Ernie Smith • 0 Comments • Permalink

18 Dec 2011 11:20

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Politics: So … who’s paying for the payroll tax cut, anyway? Homeowners

  • $17 per month charges on new homeowners’ mortgages source
  • » Those who refinance will feel the pinch, too: To help pay for the $33 billion cost of the extended-by-two-months payroll tax cut, the federal government will increase the cost for homeowners to get their homes insured by Fannie Mae and Freddie Mac, who currently back nine out of ten home mortgages in the U.S. The fee, currently around 0.3 percentage points, would jump by 0.1 percentage points, which translates to roughly $17 per month for most homeowners. However, this fee would not affect current homeowners unless they refinance starting next year. Is this the best way to handle the extension?
Posted by Ernie Smith • 0 Comments • Permalink

01 Jul 2010 09:35

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Biz: The federal government coming out ahead on Citibank bailout

  • 7.7B number of shares the government owns due to the Citibank bailout
  • $10.5B revenues from selling a third of those shares (around 2.6 billion)
  • $2B amount in profits the government has made from the sales source
Posted by Ernie Smith • 0 Comments • Permalink

28 May 2010 10:30

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Politics: This is how bad Obama’s response to this spill could ding him

  • Having flown over this disaster, I can tell you it greater than anyone can ever imagine. My constituents are watching a slow-motion tragedy unfold in front of them. Our culture is threatened, our coastal economy is threatened, and everything I know and love is at risk.
  • Rep. Charlie Melancon • In a House Energy subcommittee meeting. After saying this, Melancon excused himself because his emotions got the best of him. Melancon is a Democrat, by the way. Democratic strategist James Carville has also taken Obama to task for a perceived slow federal response to the oil spill. This is why Obama is headed to the Gulf today and is going out of his way to get involved in this mess. Because if he doesn’t, this could be worse for him than Katrina was for Bush.  source
Posted by Ernie Smith • 3 Comments • Permalink

09 Apr 2010 15:30

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Biz, U.S.: In Oklahoma City, the mall is technically a federal building

  • You gotta love toxic assets. After the government took on $70 billion in bad assets from AIG and Bear Stearns in the wake of their collective crap-outs, there’s been a lot of confusion as to what those assets were. Well, the feds own loans for hotels worldwide, the Miami airport and Chicago’s Civic Opera House. But after the owners of this mall couldn’t make their payments, the government took over the mall. Which is kinda hilarious. source
Posted by Ernie Smith • 0 Comments • Permalink

28 Jul 2009 20:42

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U.S.: The feds use a little stimulus cash to boost up police

  • $1 billion more to put more cops on the streets; no word on donuts source
Posted by Ernie Smith • 0 Comments • Permalink

02 Jun 2009 21:56

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U.S.: Latest reason we’re all gonna die: Nuclear data accidentally leaked

  • *forehead slap* Great job, federal government. The U.S. revealed in a newsletter yesterday that somebody messed up and released a 266-page document LOADED with information about civilian nuclear holdings as well as maps of where we keep all of the fuel for our nuclear weapons. The document was marked “highly confidential,” which sounds scary. Some experts claim the leak isn’t THAT big a deal, but it’s not the first data screwup while Obama’s been in office. source
Posted by Ernie Smith • 0 Comments • Permalink
 

01 Jun 2009 08:44

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Biz, U.S.: Big auto news #2: GM files for bankruptcy protection

  • One of the country’s greatest icons of industry is no longer independent. After years of mounting losses and an inevitable couple of weeks, General Motors filed for bankruptcy this morning. source
  • The automaker, which has been eroding market share since the ’80s and lost $30 billion last year alone, will likely be 60% owned by the federal government, which is sarcastically awesome. source
Posted by Ernie Smith • 0 Comments • Permalink

22 Feb 2009 10:23

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U.S.: The Feds and Roland Burris have a nice fireside chat

  • Wonder what they talked about. Burris, who had delayed the chat for several weeks, was asked by the Feds about his role in the Rod Blagojevich scandal, which saw the former Illinois governor try to sell Burris’ current Senate seat for profit or personal gain. Rod got kicked out last month, but now Burris is a giant question mark due to his recent admission that he actively campaigned to raise funds for Blagojevich. Burris faces no criminal charges – well, in this probe. source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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