Open Thread


For general discussion and debate. Possible talking point: the Federal Reserve cut the fed funds rate by another 50 bps yesterday. That's 1.25 percent in six business days.

What does it mean? Does the Fed know something we don't know? Is the economy doing so poorly that interest rates need to be dropped so quickly? Or have America's leading banks gotten the Fed to bail them out?

Consider this possibility: heads of Citibank, BofA, etc., meet with Bernanke to discuss how they have to cut expenses quickly. They can either lay off LOADS of people, thereby worsening the recession, and forcing deeper interest rate cuts down the road, OR; Bernanke can lower interest rates FAST thereby allowing banks across the country to drop their savings rates FAST thereby dramatically reducing their biggest cost -- interest payments to depositers!

As such, is it possible this almost unprecedented drop in interest rates is more of a defacto bailout for America's banks than an economic stimulant?

Another possible talking point: might the economy do better with a less volatile monetary policy? After all, the Greenspan era was a period of booms and busts largely caused by excessive Fed easing and tightening.

Put another way, the Fed would have its foot so strongly on the gas that eventually a boom would result in stocks, commodities, bonds, or real estate. Once the boom reached bubble proportions, the Fed would slam on the brakes causing a bust. Once the bust started hurting the economy, the Fed would step on the gas again until another boom in assets occurred.

Lather. Rinse. Repeat.

It now seems Bernanke is following this same pattern.

With this in mind, maybe a more conservative monetary policy -- one with less extremes at both ends of the yield curve -- would produce less volatile economies without the booms and busts.

Thoughts?

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I need to

I need to refinance an equity line (inherited from a death *sigh*), so hopefully, I can get a better rate now

Hot News of the Day!

The other presidential candidate Clinton says "we have to slow down our economy to fight global warming".

http://blogs.abcnews...

Get your popcorn ready guys... this is going to be a good one!

The Clintons...

... already have their fortune so why should they care if anyone else makes any money?

Hillary agrees with Juan "Mexico First" McCain?

I had no idea they both wanted to slow the economy down. But don't worry all the sucker McCain supporters understand this that is why they are voting for him!

McCain and Lieberman Push for New Anti-Global Warming Legislation (The National Center for Public Policy Research)
Senators McCain and Lieberman Propose Energy Tax (The National Center for Public Policy Research)

"No drilling in ANWR, nor in the Everglades, nor off the coast of Florida... To think that drilling in ANWR is the solution to our incredible energy needs is frankly, is not keeping in the reality of what's there, and what it would take to get it out." - John McCain

"I always have a glass of ethanol before breakfast every morning" - John McCain

McCain’s Costly Tax on Energy (National Review Online)

- The EPA Estimates Sen. McCain's Plan Would Hike Gas Taxes By 68 Cents Per Gallon
- The EPA Estimates Sen. McCain's Plan Would Reduce United States GDP By As Much As $5.2 Trillion

The Anti 'Man-Made' Global Warming Resource

`I hate the gooks,'' McCain said yesterday

``I hate the gooks,'' McCain said yesterday in response to a question
from reporters aboard his campaign bus. ``I will hate them as long as I
live.''

http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2000/02/18/MN32194.DTL

Are you going to add this to your list?

Yeah, that's probably not

Yeah, that's probably not the best choice of words for a man who wants to be president. Hatred toward his captors is certianly understandable; but if you must call them something derrogatory, make it something that doesn't have racial connotations. "Rat Bastards" might work. 

What was the question, exactly, that elicited that response? I couldn't find it in the article.

*****

"People only insist that a debate stop when they are afraid of what might be learned if it continues." - George Will 

Vote McCain - He Hates the Gooks!

I love McCain, you could not even make this stuff up.

McCain Criticized for Slur (San Francisco Chronicle)

The Anti 'Man-Made' Global Warming Resource

McCain is racist? He must

McCain is racist? He must be a Democrat...

No wonder conservatives despise him 

I am giving McCain a pass on this one.

As he was held POW by those inhuman, Godless heathens, and underwent God only-knows what kind of mal-treatment, He has more than earned the right to call them anything he wishes.

But I am still not voting for the man.

None are so hopelessly enslaved as those who falsely believe they are free. -J.W. von Goethe

It Should Play Well With Asian Voters!

It Should Play Well With Asian Voters!

The Anti 'Man-Made' Global Warming Resource

Notice how painstakingly

Notice how painstakingly the Chronicle went into the reasons "why" he called his captors gooks?

As we always ask: What if a Republican said this!

Nice catch, Bruz.

I bet that, before this day is out, Monica's former boyfriend and Broom Hilda's husband will be going out of his way to tell us this is not what he meant to say.

Billy Jeff has let the cat out of the bag as to the true agenda of the America-hating, enviro-kook left.

None are so hopelessly enslaved as those who falsely believe they are free. -J.W. von Goethe

UN Ambassador for Peace?

George Clooney as UN Ambassado for Peace? Who knew that such a position existed? What does it do? How many U.S. tax dollars does it consume? And what does George Clooney know about peace that we don't know? This is much more important than any silly old economy, wouldn't you think?

___________________________________ 

If you can read this, thank a teacher. If it is in English, thank a Soldier. - My barber

he knows how to disturb the

he knows how to disturb the peace and support dictators...

perfect fit for the UN

Social Security Administration

I had occassion to go to our local Social Security office the other day, mainly for an opportunity to take a number and wait in line. As I was waiting, I noticed a sign posted above the clerk's window (yes, only 1 clerk working):

It is a federal offense to kill, kidnap, forceibly assault, intimidate or interfere with designated federal employees while they are engaged in or on account of the performance of their official duties. Violators are subject to criminal prosecution. 28 CPT Pert 64 (Order No 126-89).

Ok, folks. Don't kill your friendly federal employee unless they are on lunch break or something, else you will be called a violator (ouch) and might be criminally prosecuted.

Tell me -- what's the purpose of a sign like this? I thought you couldn't kill someone no matter what; why do we have a special order telling not to kill a federal employee while they are working? And being subject to criminal prosecution??? I could suggest a change of wording here: You will be hunted down like a dog, stand trial, and then be hanged. No maybes.

Our tax dollars at work.

___________________________________ 

If you can read this, thank a teacher. If it is in English, thank a Soldier. - My barber

well thisinthat

For a lot of the illegals who go in there to get free stuff, that might be the closest they come to understanding our laws.

"It is a federal offense

"It is a federal offense to kill, kidnap, forcibly assault, intimidate or interfere with ..."

couldn't this also read, "anyone, at any time?"

*****

"People only insist that a debate stop when they are afraid of what might be learned if it continues." - George Will 

You have to read between the lines

Translated to English the sigh reads:

If you get huffy, or ask a pointed question, or become short with your overpaid under motivated federal employee, it constitutes intimidation and interference with his/her duties, and federal agents with clubs and tasers will wrestle you to the ground, hog tie you and take you in the back room for 14 hours of interrogation, which also happens to be the same response that you would get if you had attempted kill the federal employee. Have a nice day.

 


Theory

Remember a few weeks ago when someone floated an idea to allow those with ARM's to convert to a fixed at the same low rate. Lots of people who weren't in trouble complained that it was rewarding bad behavior and penalizing those who did over-extend themselves. My thought is that by lowering the Fed Funds rate and eventually Mortgage rates, it will allow banks to refinace many who are in trouble without booking it as a loss. (i.e. offering a person a below market rate to avoid foreclosure.)
This would allow all of us to refinace and those in trouble and those who aren't also beneifit with the lower rates. Banks & Mortgage companies win and also make a heap of profit on the fees they get to charge in the process and ultimately avoid having to book huge paper losses. (Remember they're not real losses until the mortgage holder actually defaults and the home is foreclosed.)
Who loses? Anyone buying a house after the Fed has to eventually raise rates to counter inflation down the road.
I expect mortage rates to fall below 5% shortly, if they haven't already.

Long term mortgage rates do

Long term mortgage rates do not follow short-term interest rates that closely.

I'll never understand Europe.

Reasons 1,037,289, 1,037,290, and 1,037,291 why I'll never understand Europe. French pay a price for rules on sales.

"In America, merchants hold sales whenever they like. In parts of
Europe, it's the government that makes the rules.Twice a year, in
January and June or July, French law allows retailers to post the word
"sale" in their windows and significantly cut prices."

"Not only are out-of-season sales banned in countries including Belgium,
Italy, Spain, Greece and France, but a jungle of regulations also keeps
European retailers in lock step: In most countries, they can't sell
below cost; in others they can't advertise reduced prices in advance of
sales or discount items until they have been on shelves more than a
month."

"And while many Americans check their Sunday newspapers for sales, then
head to the mall, the French can't shop much that day -- because few
stores are open, thanks to a century-old labor code that decrees a day
of rest for all workers. (Moreover, newspapers aren't allowed to run
department store ads, out of concern about unfair competition.)"

Incomprehensible Europe

What a classic example of socialism, i.e., Liberalism! Whenever one of our Leftards decides to trumpet European greatness over our American provincialism, we need to publish stories like this to the American public. What an educational tool this could be. As Mr. Churchill said, "Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery."

And that fact right there

And that fact right there Dave is why the Europeans use LESS electricity per capita than the US.  They have far fewer business hours to keep on the lights and machinery, and it also explains why they have stubbornly high unemployment, I did a rough estimate on the business hour/man hour difference several months back. 

This is why liberals are making noises about the US of being a consumerist society, they are adroitly trying to frame the argument around US consumerism versus their failures in central economic planning.  Once the US is dragged down to the European level, then there is no frame of reference upon which to criticise Socialism but only the evils of Capitalism.

Hanlon's Razor: Never attribute to malice that which can be adequately explained by stupidity. dscott's corollary: The line between malice and stupidity is called depraved indifference.

Captain America is back!

Captain America is back! All is well in America again! Return to your homes, safe in the knowledge that, um, a fictional character, is...back?

http://www.cnn.com/2...

The Captain is back

but now he's better armed! Wonder how the control of guns crowd will react!

There is no sense in being stupid, if you can't prove it! - my dad V

If they didn't mind the

If they didn't mind the Punisher, I think Cap will be OK. :-)

First rule of comic books: Characters can and will come back from the dead, even if the original Steve Rogers is still dead.

It is not simply the

It is not simply the "interest rate" that gets changed, one must also consider the change in reserve requirements on the banks which affects how much money they can use to make loans. Here is a good explanation of what goes on.  http://www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=reserve%20requirements  That drop in interest rate is only the visible portion of what the Fed is doing, they by dropping the interest rate are also increasing the amount of money available for banks to loan, hence a liquidity increase for mortgages.

Given that our problem is the housing sector, and a rouge trader screwing up in France using derivatives, the drop in interest rates are the right policy to pursue. Handing out $200 billion in rebates is inflationary and just increases our national debt.

Hanlon's Razor: Never attribute to malice that which can be adequately explained by stupidity. dscott's corollary: The line between malice and stupidity is called depraved indifference.

I make a prediction....

In a story entitled "Soldiers’ brain injuries might be overstated, military docs say"

By MARILYNN MARCHIONE of the Associated Press

Published on Thursday, January 31, 2008 published the notion that the role of traumatic brain injury — blamed for symptoms plaguing thousands of soldiers returning from Iraq — might be overstated, and cites a provocative military study that offers hope for successful treatment.

The story seems to focus on the thesis statement that TBI is probably not the cause of much of maladies being suffered by returning troops, but rather pins the blame on PTSD instead and cites that the only concrete symptom of TBI proven in the study is headaches. 

Regardless of this study, I suspect that the study and its data will be ignored by the press.  What I predict is that TBI will quickly become the illness of common cause for the press such as Agent Orange of the late 70's and PTSD of the mid - 80's.  The VA will quickly be overloaded by claims of TBI by persons wearing faded Desert Camouflage Uniforms and beards who seek "Treatment" but have no proof that they ever served in the military.

Murderers will attempt to prove that TBI cause dthem to kills their spouses, and the unemployed will cite TBI as reasons to not show up for work.

Those who actually suffer from TBI will quietly go about their lives much like the rest of us.  Working in jobs with conviction, raising their families as well or better as the rest, regardless of the pain that it will inflict upon them.

As if my I’m not mad

As if my I’m not mad enough, then in the mail comes another “poll” from the RNC, wanting “my” opinion. I guess they did not get my last letter to them with the brick I had attached to tell them to build the fence.

I know that I am going to dip deep in my pocket, to pay for a ticket to be sold down the river.

 

 

 

These are the boys of Pointe du Hoc. Ronald Reagan- 40th Anniversary of D-Day

How can anyone get

How can anyone get treatment at the VA without having evidence of serving?  To me taht is the most hairbrained idiotic idea I have heard.

Nuke em til they glow then shoot em in the dark.

The dirty little secret is

The dirty little secret is that the VA has been riddled with fraud for the past thrity years.  Policies by the Dept of Veterans Affairs in Washington have fostered a climate in which claims of veterans status do not have to be proven prior to treatment being commenced.

I encourage you to visit the webpage http://www.stolenvalor.com/

In the book of the same name the authors catalogue the fraud that has been foisted upon the VA for the past thirty years by non-veterans who use it as a hammock....

→ Cramer - Interesting thought

Couple of days ago, Jim Cramer of "Mad Money" wondered aloud if the 75 point cut was maybe due to one of the major lenders secretly divulging to the FED it was about to go bankrupt.

As good a guesstimation as any.

♣ a seal

Well as far as the economy

Well as far as the economy goes I think that the US is screwed, with the choices we have coming up. One you have a guy that no expectance at anything but promises the moon and unicorns. Then you have Billary, that thinks that corporations make too much money and that extra money needs to be taken away. Then we have one that tells us that corporations are greedy and vote against tax cuts. Then the only one that understands the economy, (that is the one, that is not likely to get the nod.)

 

 

 

These are the boys of Pointe du Hoc. Ronald Reagan- 40th Anniversary of D-Day

If there is

 CA If there is smoke??? 

 

 

These are the boys of Pointe du Hoc. Ronald Reagan- 40th Anniversary of D-Day

Ha ha ha ha... Citi or BoA

Ha ha ha ha... Citi or BoA pay significant interests on deposits? Coffee -> Keyboard

A Look Back

Let's all please take a moment to reflect what the past eight years have done for us and where that leaves us now:

Pros:

  • no attack since 9/11
  • five years in Iraq
  • temporary tax cuts
  • Roberts and Alito

Cons:

(if McCain gets the nod)

  • We've lost the fight to stop amnesty.
  • Social Security swells as 15 million fresh citizens use illegal employment as credit.
  • The war in Iraq is used to capture bad guys, fly them into the states, and give them lawyers on our tax dime.
  • We've lost on global warming and resign ourselves to sacrifice for the planet.
  • All tax cuts for the rich expire and a new wave of tax breaks for the poor ensues.
  • The White House reaches across the aisle to cut a deal on government healthcare.
  • Any Republican who complains about McCain is thrown beneath the wheels.
  • All criticism shifts from being called BDS to MDS.
  • Judges like Alito are ignored while the White House consults Democrats to find good compromises.

 

(if Romney wins)

  • The fight for global warming is given one more chance.
  • The White House works with Democrats to compromise on universal healthcare.
  • Social Security is ignored.
  • The Bush tax cuts expire and the White House doesn't have the muscle to re-enact them.
  • Congress and the White House compromise on anmesty, the fence is never built.
  • The war in Iraq drags on for a few more years: Congress ups the ante for a veto override to end the war.

 

....and these are the best we can hope for.

We've lost on global

We've lost on global warming and resign ourselves to sacrifice for the planet.

I listened to McCain's acceptance speech after Schwartzie's AGW blubbering endorsement.   McCain then went on to confirm how he was going address the AGW issue...the likes of GE and the other big corporations to help in this effort, in other words SUBSIDIES, Billions of Dollars of taxpayer money.  AAAHHHRRRGGGG

It's not just this we lost here, it's the whole economy.  I hate to say it but at this point I'm considering rooting for a recession at least then these lame idiots can't raise taxes or allow the tax rate to rise on anyone.  Horrible, just horrible.  If you got investments - Wait for the rebates to be handed out, the market to go up and then sell into cash. 

Hanlon's Razor: Never attribute to malice that which can be adequately explained by stupidity. dscott's corollary: The line between malice and stupidity is called depraved indifference.

This is why the cartel is after the Clintons!!!!!!!!!

I have been posting here wondering why on earth the cartel has been after the Clinton's in blackmailing them to take a dive on this presidential campaign and the New York Times have given the information in a story exposing Bill Clinton as the uranium supplier to the world terrorist Muslim nations.

I have recorded here the evidence before that Bill signed off on Saddam staying in power in return for millions in bribes via Marc Rich laundering the money for numerous UN, Clinton and European leaders.
This same clique also refined NIGER URANIUM via France which VAL PLAME WAS SENT IN TO COVER UP.

Bill dealing in uranium was very profitable for him and is worth millions more now due to his Canadian buddy, Frank Guistra........BILL CLINTON WAS ON THE PLANE TO KHAZAKISTAN BROKERING THE DEAL WHICH MADE GUISTRA THE BIGGEST URANIUM EXPORTER IN THE WORLD.
Clinton got the Chicoms and India on board.........AND CUT OUT RUSSIA, the ROTHSCHILDS AND ROCKEFELLERS.

THIS IS WHY THEY ARE AFTER HILLARY NOW as the Clintons screwed over their masters in dealing nuclear death around the world.

I hope Newsbusters follows up on this as this is the key portion I was searching for and the NEW YORK TIMES TO SINK HILLARY HAS JUST BLOWN THIS ENTIRE SCAM WIDE OPEN!

Links and story below for those too lazy to surf the Times.

 

http://www.nytimes.c...

 

January 31, 2008

After Mining Deal, Financier Donated to Clinton Charity

By JO BECKER and DON VAN NATTA Jr.

Late on Sept. 6, 2005, a
private plane carrying the Canadian mining financier Frank Giustra
touched down in Almaty, a ruggedly picturesque city in southeast Kazakhstan.
Several hundred miles to the west a fortune awaited: highly coveted
deposits of uranium that could fuel nuclear reactors around the world.
And Mr. Giustra was in hot pursuit of an exclusive deal to tap them.

Unlike more established competitors, Mr. Giustra was a newcomer to
uranium mining in Kazakhstan, a former Soviet republic. But what his
fledgling company lacked in experience, it made up for in connections.
Accompanying Mr. Giustra on his luxuriously appointed MD-87 jet that
day was a former president of the United States, Bill Clinton.

Upon landing on the first stop of a three-country philanthropic
tour, the two men were whisked off to share a sumptuous midnight
banquet with Kazakhstan’s president, Nursultan A. Nazarbayev, whose
19-year stranglehold on the country has all but quashed political
dissent.

Mr. Nazarbayev walked away from the table with a propaganda coup,
after Mr. Clinton expressed enthusiastic support for the Kazakh
leader’s bid to head an international organization that monitors
elections and supports democracy. Mr. Clinton’s public declaration
undercut both American foreign policy and sharp criticism of
Kazakhstan’s poor human rights record by, among others, Mr. Clinton’s
wife, Senator Hillary Rodham Clinton of New York.

Within two days, corporate records show that Mr. Giustra also came
up a winner when his company signed preliminary agreements giving it
the right to buy into three uranium projects controlled by Kazakhstan’s
state-owned uranium agency, Kazatomprom.

The monster deal stunned the mining industry, turning an unknown
shell company into one of the world’s largest uranium producers in a
transaction ultimately worth tens of millions of dollars to Mr.
Giustra, analysts said.

Just months after the Kazakh pact was finalized, Mr. Clinton’s
charitable foundation received its own windfall: a $31.3 million
donation from Mr. Giustra that had remained a secret until he
acknowledged it last month. The gift, combined with Mr. Giustra’s more
recent and public pledge to give the William J. Clinton Foundation an
additional $100 million, secured Mr. Giustra a place in Mr. Clinton’s
inner circle, an exclusive club of wealthy entrepreneurs in which
friendship with the former president has its privileges.

Mr. Giustra was invited to accompany the former president to Almaty
just as the financier was trying to seal a deal he had been negotiating
for months.

In separate written responses, both men said Mr. Giustra traveled
with Mr. Clinton to Kazakhstan, India and China to see first-hand the
philanthropic work done by his foundation.

A spokesman for Mr. Clinton said the former president knew that Mr.
Giustra had mining interests in Kazakhstan but was unaware of “any
particular efforts” and did nothing to help. Mr. Giustra said he was
there as an “observer only” and there was “no discussion” of the deal
with Mr. Nazarbayev or Mr. Clinton.

But Moukhtar Dzhakishev, president of Kazatomprom, said in an
interview that Mr. Giustra did discuss it, directly with the Kazakh
president, and that his friendship with Mr. Clinton “of course made an
impression.” Mr. Dzhakishev added that Kazatomprom chose to form a
partnership with Mr. Giustra’s company based solely on the merits of
its offer.

After The Times told Mr. Giustra that others said he had discussed
the deal with Mr. Nazarbayev, Mr. Giustra responded that he “may well
have mentioned my general interest in the Kazakhstan mining business to
him, but I did not discuss the ongoing” efforts.

As Mrs. Clinton’s presidential campaign has intensified, Mr.
Clinton has begun severing financial ties with Ronald W. Burkle, the
supermarket magnate, and Vinod Gupta, the chairman of InfoUSA, to avoid
any conflicts of interest. Those two men have harnessed the former
president’s clout to expand their businesses while making the Clintons
rich through partnership and consulting arrangements.

Mr. Clinton has vowed to continue raising money for his foundation
if Mrs. Clinton is elected president, maintaining his connections with
a wide network of philanthropic partners.

Mr. Giustra said that while his friendship with the former president
“may have elevated my profile in the news media, it has not directly
affected any of my business transactions.”

Mining colleagues and analysts agree it has not hurt. Neil
MacDonald, the chief executive of a Canadian merchant bank that
specializes in mining deals, said Mr. Giustra’s financial success was
partly due to a “fantastic network” crowned by Mr. Clinton. “That’s a
very solid relationship for him,” Mr. MacDonald said. “I’m sure it’s
very much a two-way relationship because that’s the way Frank
operates.”

Foreseeing Opportunities

Mr. Giustra made his fortune in mining ventures as a broker on the
Vancouver Stock Exchange, raising billions of dollars and developing a
loyal following of investors. Just as the mining sector collapsed, Mr.
Giustra, a lifelong film buff, founded the Lion’s Gate Entertainment
Corporation in 1997. But he sold the studio in 2003 and returned to
mining.

Mr. Giustra foresaw a bull market in gold and began investing in
mines in Argentina, Australia and Mexico. He turned a $20 million shell
company into a powerhouse that, after a $2.4 billion merger with
Goldcorp Inc., became Canada’s second-largest gold company.

With a net worth estimated in the hundreds of millions of dollars,
Mr. Giustra began looking for ways to put his wealth to good use.
Meeting Mr. Clinton, and learning about the work his foundation was
doing on issues like AIDS treatment in poor countries, “changed my
life,” Mr. Giustra told The Vancouver Sun.

The two men were introduced in June 2005 at a fund-raiser for
tsunami victims at Mr. Giustra’s Vancouver home and hit it off right
away. They share a love of history, geopolitics and music — Mr. Giustra
plays the trumpet to Mr. Clinton’s saxophone. Soon the dapper Canadian
was a regular at Mr. Clinton’s side, as they flew around the world
aboard Mr. Giustra’s plane.

Philanthropy may have become his passion, but Mr. Giustra, now 50, was still hunting for ways to make money.

Exploding demand for energy had helped revitalize the nuclear power
industry, and uranium, the raw material for reactor fuel, was about to
become a hot commodity. In late 2004, Mr. Giustra began talking to
investors, and put together a company that would eventually be called
UrAsia Energy Ltd.

Kazakhstan, which has about one-fifth of the world’s uranium
reserves, was the place to be. But with plenty of suitors, Kazatomprom
could be picky about its partners.

“Everyone was asking Kazatomprom to the dance,” said Fadi Shadid, a
senior stock analyst covering the uranium industry for Friedman
Billings Ramsey, an investment bank. “A second-tier junior player like
UrAsia — you’d need all the help you could get.”

The Cameco Corporation, the world’s largest uranium producer, was
already a partner of Kazatomprom. But when Cameco expressed interest in
the properties Mr. Giustra was already eying, the government’s response
was lukewarm. “The signals we were getting was, you’ve got your hands
full,” said Gerald W. Grandey, Cameco president.

For Cameco, it took five years to “build the right connections” in
Kazakhstan, Mr. Grandey said. UrAsia did not have that luxury.
Profitability depended on striking before the price of uranium soared.

“Timing was everything,” said Sergey Kurzin, a Russian-born
businessman whose London-based company was brought into the deal by
UrAsia because of his connections in Kazakhstan. Even with those
connections, Mr. Kurzin said, it took four months to arrange a meeting
with Kazatomprom.

In August 2005, records show, the company sent an engineering
consultant to Kazakhstan to assess the uranium properties. Less than
four weeks later, Mr. Giustra arrived with Mr. Clinton.

Mr. Dzhakishev, the Kazatomprom chief, said an aide to Mr.
Nazarbayev informed him that Mr. Giustra talked with Mr. Nazarbayev
about the deal during the visit. “And when our president asked Giustra,
‘What do you do?’ he said, ‘I’m trying to do business with
Kazatomprom,’ ” Mr. Dzhakishev said. He added that Mr. Nazarbayev
replied, “Very good, go to it.”

Mr. Clinton’s Kazakhstan visit, the only one of his
post-presidency, appears to have been arranged hastily. The United
States Embassy got last-minute notice that the president would be
making “a private visit,” said a State Department official, who said he
was not authorized to speak on the record.

The publicly stated reason for the visit was to announce a Clinton
Foundation agreement that enabled the government to buy discounted AIDS
drugs. But during a news conference, Mr. Clinton wandered into delicate
territory by commending Mr. Nazarbayev for “opening up the social and
political life of your country.”

In a statement Kazakhstan would highlight in news releases, Mr.
Clinton declared that he hoped it would achieve a top objective:
leading the Organization for Security and Cooperation in Europe, which would confer legitimacy on Mr. Nazarbayev’s government.

“I think it’s time for that to happen, it’s an important step, and I’m glad you’re willing to undertake it,” Mr. Clinton said.

A Speedy Process

Mr. Clinton’s praise was odd, given that the United States did not
support Mr. Nazarbayev’s bid. (Late last year, Kazakhstan finally won
the chance to lead the security organization for one year, despite
concerns raised by the Bush administration.) Moreover, Mr. Clinton’s
wife, who sits on a Congressional commission with oversight of such
matters, had also voiced skepticism.

Eleven months before Mr. Clinton’s statement, Mrs. Clinton co-signed
a commission letter to the State Department that sounded “alarm bells”
about the prospect that Kazakhstan might head the group. The letter
stated that Kazakhstan’s bid “would not be acceptable,” citing “serious
corruption,” canceled elections and government control of the news
media.

In a written statement to The Times, Mr. Clinton’s spokesman said
the former president saw “no contradiction” between his statements in
Kazakhstan and the position of Mrs. Clinton, who said through a
spokeswoman, “Senator Clinton’s position on Kazakhstan remains
unchanged.”

Noting that the former president also met with opposition leaders
in Almaty, Mr. Clinton’s spokesman said he was only “seeking to suggest
that a commitment to political openness and to fair elections would
reflect well on Kazakhstan’s efforts to chair the O.S.C.E.”

But Robert Herman, who worked for the State Department in the
Clinton administration and is now at Freedom House, a human rights
group, said the former president’s statement amounted to an endorsement
of Kazakhstan’s readiness to lead the group, a position he called
“patently absurd.”

“He was either going off his brief or he was sadly mistaken,” Mr.
Herman said. “There was nothing in the record to suggest that they
really wanted to move forward on democratic reform.”

Indeed, in December 2005, Mr. Nazarbayev won another election, which
the security organization itself said was marred by an “atmosphere of
intimidation” and “ballot-box stuffing.”

After Mr. Nazarbayev won with 91 percent of the vote, Mr. Clinton
sent his congratulations. “Recognizing that your work has received an
excellent grade is one of the most important rewards in life,” Mr.
Clinton wrote in a letter released by the Kazakh embassy. Last
September, just weeks after Kazakhstan held an election that once again
failed to meet international standards, Mr. Clinton honored Mr.
Nazarbayev by inviting him to his annual philanthropic conference.

Within 48 hours of Mr. Clinton’s departure from Almaty on Sept. 7,
Mr. Giustra got his deal. UrAsia signed two memorandums of
understanding that paved the way for the company to become partners
with Kazatomprom in three mines.

The cost to UrAsia was more than $450 million, money the company did
not have in hand and had only weeks to come up with. The transaction
was finalized in November, after UrAsia raised the money through the
largest initial public offering in the history of Canada’s Venture
Exchange.

Mr. Giustra challenged the notion that UrAsia needed to court
Kazatomprom’s favor to seal the deal, contending that the government
agency’s approval was not required.

But Mr. Dzhakishev, analysts and Mr. Kurzin, one of Mr. Giustra’s
own investors, said that approval was necessary. Mr. Dzhakishev, who
said that the deal was almost done when Mr. Clinton arrived, said that
Kazatomprom was impressed with the sum Mr. Giustra was willing to pay
and his record of attracting investors. He said Mr. Nazarbayev himself
ultimately signed off on the transaction.

Longtime market watchers were confounded. Kazatomprom’s choice of
UrAsia was a “mystery,” said Gene Clark, the chief executive of Trade
Tech, a uranium industry newsletter.

“UrAsia was able to jump-start the whole process somehow,” Mr. Clark
said. The company became a “major uranium producer when it didn’t even
exist before.”

A Profitable Sale

Records show that Mr. Giustra donated the $31.3 million to the
Clinton Foundation in the months that followed in 2006, but neither he
nor a spokesman for Mr. Clinton would say exactly when.

In September 2006, Mr. Giustra co-produced a gala 60th birthday for Mr. Clinton that featured stars like Jon Bon Jovi and raised about $21 million for the Clinton Foundation.

In February 2007, a company called Uranium One agreed to pay $3.1
billion to acquire UrAsia. Mr. Giustra, a director and major
shareholder in UrAsia, would be paid $7.05 per share for a company that
just two years earlier was trading at 10 cents per share.

That same month, Mr. Dzhakishev, the Kazatomprom chief, said he
traveled to Chappaqua, N.Y., to meet with Mr. Clinton at his home. Mr.
Dzhakishev said Mr. Giustra arranged the three-hour meeting. Mr.
Dzhakishev said he wanted to discuss Kazakhstan’s intention — not
publicly known at the time — to buy a 10 percent stake in Westinghouse,
a United States supplier of nuclear technology.

Nearly a year earlier, Mr. Clinton had advised Dubai on how to
handle the political furor after one of that nation’s companies
attempted to take over several American ports. Mrs. Clinton was among
those on Capitol Hill who raised the national security concerns that
helped kill the deal.

Mr. Dzhakishev said he was worried the proposed Westinghouse
investment could face similar objections. Mr. Clinton told him that he
would not lobby for him, but Mr. Dzhakishev came away pleased by the
chance to promote his nation’s proposal to a former president.

Mr. Clinton “said this was very important for America,” said Mr.
Dzhakishev, who added that Mr. Giustra was present at Mr. Clinton’s
home.

Both Mr. Clinton and Mr. Giustra at first denied that any such
meeting occurred. Mr. Giustra also denied ever arranging for Kazakh
officials to meet with Mr. Clinton. Wednesday, after The Times told
them that others said a meeting, in Mr. Clinton’s home, had in fact
taken place, both men acknowledged it.

“You are correct that I asked the president to meet with the head of
Kazatomprom,” Mr. Giustra said. “Mr. Dzhakishev asked me in February
2007 to set up a meeting with former President Clinton to discuss the
future of the nuclear energy industry.” Mr. Giustra said the meeting
“escaped my memory until you raised it.”

Wednesday, Mr. Clinton’s spokesman, Ben Yarrow, issued what he
called a “correction,” saying: “Today, Mr. Giustra told our office that
in February 2007, he brought Mr. Dzhakishev from Kazatomprom to meet
with President Clinton to discuss the future of nuclear energy.”

Mr. Yarrow said his earlier denial was based on the former
president’s records, which he said “show a Feb. 27 meeting with Mr.
Giustra; no other attendees are listed.”

Mr. Dzhakishev said he had a vivid memory of his Chappaqua visit,
and a souvenir to prove it: a photograph of himself with the former
president.

“I hung up the photograph of us and people ask me if I met with
Clinton and I say, Yes, I met with Clinton,” he said, smiling proudly.

David L. Stern and Margot Williams contributed reporting.

 

 

*HIC IACET ARTORIVS REX QVONDAM REXQVE FVTVRVS

I lost you after Chapter 82.

I lost you after Chapter 82.

Ah, Lame, you could have just posted the link.

None are so hopelessly enslaved as those who falsely believe they are free. -J.W. von Goethe

The Kingpin

Giustra didn't take Clinton as a guest to impress the Kazakh. Giustra is a puppet in charge of a shell company. Clinton is using his foundation as a holding company and he went along to make sure Giustra didn't screw up the deal for Clinton Inc. Clinton has always been the kingpin, not Giustra.

BERKELEY, Calif. - Hey-hey,

BERKELEY, Calif. - Hey-hey, ho-ho, the Marines in Berkeley have got to go.

 

That's the message from the Berkeley City Council, which voted 8-1 Jan. 29 to tell the Marines that its Shattuck Avenue recruiting station "is not welcome in the city, and if recruiters choose to stay, they do so as uninvited and unwelcome intruders."

In addition, the council voted to explore enforcing its law prohibiting discrimination on the basis of sexual orientation against the Marines, and officially encouraged the women's peace group Code Pink to impede the work of the Marines in the city by protesting in front of the station.

In a separate council item, the council voted 8-1 to give Code Pink a designated parking space in front of the recruiting station once a week for six months and a free sound permit for protesting once a week from noon to 4 p.m.

*still scratching head*

And what exactly has Bush done to punish these anarchist cities?

Unknown.  I wonder if this

Unknown.  I wonder if this will get coverage by O'Reilly et al?

Perhaps the Berkley City council will be "Pinheads."

OBL salutes Berkely, CA!

I don't think you can ban military recruiters from US cities can you...?

Maybe OBL can set up a recruiting office there instead... 

No doubt

No doubt they'd welcome him with open arms.

Perhaps we should set a

Perhaps we should set a Gitmo recovery facility where the recruiting center stands now. We could even move it closer to campus. All the hoopla surrounding this desision imight increase the recruiting efforts and get more people.  Hmm maybe they could have some cannon go off during the hours of 12 to 4 pm just as the code pinkos are set up.

Nuke em til they glow then shoot em in the dark.

i think it would be great

i think it would be great to move the terrorist detention center to Berkely - so they feel more at home

"In a separate council

"In a separate council item, the council voted 8-1 to give Code Pink a designated parking space in front of the recruiting station once a week for six months and a free sound permit for protesting once a week from noon to 4 p.m."

Will the ACLU jump in when other nonprofit groups are denied this same privelege? That would be discrimination, right?

8-to-1. So, can we get some love for the council person who voted against this ridiculousness?

*****

"People only insist that a debate stop when they are afraid of what might be learned if it continues." - George Will 

RUSH REVOLT

Rush's Black employees are sick and tired of their boss's openly racist attitudes.

Internal meetings have already been scheduled to address Rush's insane use of his pathetic Barack the Magic Negro song (yes, that's actually something he plays on his show).

Furthermore, radio stations that broadcast Rush are having similiar reservations. 

Can you believe it?  Black employees don't like the Magic Negro song.  Wonder why?

The right cries when they get accused of racism, but what can you expect when your slob of a spiritual leader plays racist songs on his show to the delight of his racist audience.

leon it was a Democrat who

leon it was a Democrat who coined the magic negro phrase:)

Get a clue leon

You are misinformed. Go blather in the other corner of your basement with kos kids

current racism: BLACK

current racism:

BLACK ENTERTAINMENT TELEVISION

EBONY MAGAZINE

THE NATIONAL ASSOCIATION FOR THE ADVANCEMENT OF COLORED PEOPLE

THE UNITED NEGRO COLLEGE FUND

THE BLACK PAGES

By the way what kind of white racist hires black people anyway?

hmmm

poor leon

if he understood the parody, he and his black friends who work for Rush would support the parody and have a complaint meeting with the people, who created the "barack the magic negro" label. uh, they were not in any way associated with Rush. check it out leon.

Rush has a human

Rush has a human being who happens to have darker skin guest host his show fairly frequently...

I believe the guy is black...

Ask a liberal I guess - those racists are obsessed with skin color...

VT, How am I misinformed

VT,

How am I misinformed exactly?

Rush doesn't play a song called Barack the Magic Negro?

1)  Is Negro still an acceptable term?  I mean when Spike Lee coined the phrase Magical Negro, he was using it to point out the rampant stereotypes of Black characters in literature and film.

2)  Cause he's black, not authentically?  Yeah, nothing to see here, that's not racist at all.

3)  Don't vote the Magic Negro in - not sure how this is either funny, not racist, or acceptable.

leon it was a Democrat who

leon it was a Democrat who coined the magic negro phrase:)

Spike Lee?

Spike Lee?

  here's where it picked

Good link TM...

...and the link in the article to Wiki is also good...

http://en.wikipedia....

v

"Information is the currency of democracy." - Thomas Jefferson

gratze

that Spike Lee and the LA Times - what a bunch of CONSERVATIVE REPUBLICAN RACISTS:(

no denying that you NB racist bots!!!

and "you people" complain when everyone correctly calls you bigots, harruumph...

you neocons belong squarely in the back of the cultural bus, stick to your separate wash rooms, and stay out of media productions that post LIBERALS ONLY on the front door - or else...

Leon: You just got

Leon:

You just got SCHACKED!!!!!

BD, How so?  It's a

BD,

How so?  It's a racist song parody.  Not sure how the fact that the term was coined by Spike Lee has any impact on Rush's use of the term.

Sounds like someone's a little bitter at LEON for pointing out that they don't really want to win in Iraq.  Don't let your apologism get you down.  Everybody's doing it!  It's cool. 

Leon:Your SHACKING

Leon:

Your SHACKING procedes from the fact that you assume that only a member of a supposed victimized minority can discuss that supposed minority.

Under this false theory.  Since I am not black, Asian, Hispanic, gay, or any of a hundred seperate supposed victimized minority, I cannot either discuss rationally or poke fun at that supposed vitimized minority.

It is the worst form of Political Correctness.

The others have pointed out the source of the comments (Spike Lee, and then Ehrenstein who applied them to Obama), its rationale , and then show the logic behind its use by a conservative talk show host.  Thus, your political correctness has been destroyed by history and logic.

To quote the Great Dennis

To quote the Great Dennis Miller:

...And yet this is what it's come to.This is what it's come to in contemporary America. Everybody's broken off into these petulant little Travis Bickle tribes. Everybody walks the perimeter of their own damaged esteem ever-vigilant against an incursion by They, Them. The Other Guys. Everybody's touchy and everybody's encouraged to be touchy, everybody that is . . . except me: the White Anglo-Saxon male. I'm everybody's a**hole. Black people think I'm oppressive and physically deficient. Women think I'm oafish and horny. Gay people think I'm overly macho and latently homosexual. And Asians think I'm lazy and stupid. Hey, you think you've got an ax to grind? I'm f-in' Paul Bunyan over here, okay, folks?

Leon, please tell me you

Leon, please tell me you aren't this stupid.

I'm sure you've never listened to Rush in your life. I'm also sure you dug this nonsense up from some equally unimformed website.

If you had have listened, you would know the parody features Al Sharpton being parodied complaining that Barack wasn't down for the struggle or "authentic like me"!

The entire bit is illustrating just how bigoted liberals really are. And evidently shows they aren't very bright. Or punctual! This bit is almost a year old.

Leon, you're misinformed. . .

The song is based on a quote from the LA_Times.  Lib journalists are so silly when they try to sound catchy. . .that they end up getting parodied.  I heard it myself once also.

But that's okay, because the libs can always conveniently forget where the lyric originated, right? 

Your side has the final say, Leon.  Get it?

This post is