For general discussion and debate. Possible talking point: NY judge blocks sale of Wachovia to Wells Fargo:
A New York State judge has temporarily blocked the merger of Wachovia with Wells Fargo, according to a news release by Citigroup - which is trying to buy Wachovia itself...The battle also has implications for taxpayers. The Citigroup offer had come with a backstop from the Federal Deposit Insurance Corporation (FDIC), would cover any losses on Wachovia's $300 billion loan portfolio beyond the first $42 billion. The Wells offer does not ask for FDIC assistance.
This one should clearly interest taxpayers, for the Wells offer is not only better for Wachovia stockholders, but also costs the U.S. government and the FDIC NOTHING. As such, if Citicorp ends up winning the court battle, the entire nation loses. Thoughts?
Editor at Large
Comments Policy
Was anything on paper?
October 5, 2008 - 09:43 ET by JWFWas anything on paper? Was there a contract? If so, a deal is a deal. We are still a nation of laws even if we are going straight into the dumper because of marxist-socialist experiments in social engineering.
Sincerely,
a Veteran of a 1000 psychic wars.
»→ We totally support Citigroup
October 5, 2008 - 09:53 ET by Cool ArrowIn fact, we all voted $700 Billion just for such instances as this.
Free Market? HA!
Our elected officials legitimized the equality between Government backed and privately backed risk.
We kicked Hezbollah out of Lebanon - Joe Biden
Are you up to the task?
October 5, 2008 - 10:08 ET by BlondeOff topic I know, but kind of funny.
Are you up to being a subject of His Highness, the One?
David Gregory, do you know which damn network you lie for? ~ Uncle Jimbo, @Blackfive
Another round of thundering aplause, please.
October 5, 2008 - 10:38 ET by RackieLet's all stand once again in awe and respect for the smart, sophisticated, bizschool barons of finance and industry for another fine mess they've gotten us into. yeaaaaaaah.....clap........clap.........clap......(sniff)
We beg to differ!
October 5, 2008 - 10:49 ET by JWFThis mess was a result of Democrats trying yet another marxist experiment in social engineering that went horribly awry due to the law of unintended consequences.
Bizschool barons of finance and industry tend toward profitability and lesser risk when left to their own in a free market.
You are buying into the leftist propaganda that is straight out the the communist playbook sir. This is further propagated by the MSM who are mainly leftists themselves. Please, don't eat from the liberal baby food jar.
Sincerely,
a Veteran of a 1000 psychic wars.
NY Judge
October 5, 2008 - 10:42 ET by Kingfish17I'm not surprised that a NY judge is trying to block this deal. He's no doubt supported by CITI a lot more then he's supported by Wells Fargo.
I'm not an expert on FDIC, but it's my understanding here that the FDIC didn't take over Wachovia, but merely aranged a takeover by CITI. Nothing has been approved yet by the real owners of Wachovia, and in America, that's the shareholders of the bank. (If FDIC were to declare Wachovia insolvent, then that's another story.)
As this plays out I'd be surprised if Wells Fargo loses their bid to take over Wachovia, unless Citi ups the ante and bids higher.
Kf... I agree, with what
October 5, 2008 - 12:45 ET by bigtimerKf...
I agree, with what I have followed about this so far, plus WF offered 7 times the bid that Citi did if I heard right yesterday somewhere.
Let the free market work...
I feel the govt. intervention have really made another mess of things now...this is going to come back to bite us all in the long run...just like they always do...and they have zilch for accountability at our expense.
"America isn't the problem...America is the solution." ~ Rush Limbaugh
Buh-Bye OJ
October 5, 2008 - 10:43 ET by JoelCTWow, this is the current cnn.com "QuickVote":
Quick Vote
Should O.J. Simpson spend the rest of his life in prison?
Yes 80% 186824
No 20% 48141
Total Votes: 234965
»→ CNN vote
October 5, 2008 - 10:52 ET by Cool ArrowAnd it's true today. CNN viewers hate black people.
That incident among acquaintances in no way should garner a life sentence.
"John McCain has not talked about my Muslim Faith" - Barack Hussein Obama
Bah Ha Ha
October 5, 2008 - 10:58 ET by JoelCTI'm glad I wasn't taking a sip of my delicious coffee at the moment I read that, because I would be heading out to buy a new monitor right now...
Thanks, that was my kinda humor.
Joel
October 5, 2008 - 15:44 ET by ricklailI thought we were through with OJ. He has been playing golf in Florida while at the same time desperately seeking the killer of his ex-wife and Ron Goldman. Maybe after his sentencing and he goes to prison that will be the last we hear from him.
Several years ago Congress passed a law, PREA, The Prison Rape Elimination Act. That law is really going to help OJ from becoming someone's bitch. RIGHT. It works so good they should expand it to all society.
Free Economy
October 5, 2008 - 10:52 ET by JDWYesterday I read the judge's injunctive order was granted to permit Wachovia the opportunity to negotiate with others.
JDW
DAILY WAVE
'Hey Chuck, Stand Up!'
my 2 cents: Palin & Romney
October 5, 2008 - 10:52 ET by mom_roxI would like to see Sarah Palin and Mitt Romney team up and campaign in the northern battleground states, especially in Michigan . People will respect Romney's analysis on the economy.
regarding Barack Obama's tax plan - I never received a job from a poor person.
American Carol
October 5, 2008 - 10:56 ET by Kingfish17I hope it's OK to post about this movie in the open thread:
I've been looking forward to this movie since I heard about it. I'm a Kelsey Grammer fan and wanted to see a movie with a right leaning slant where Michael Moore got his come-uppance. But....I was fearful that this movie was going to suck.
So many times, when the right tries to make a movie or television show, (remember that terrible Fox parrody on the MSM news?), that lampoons the left, the dismal production value and poor quality overshadows any humor or wit.
But this time, I was not disapointed. American Carol was a very good movie. It was funny throughout, the acting was great, and the slapstick comedy didn't get in the way of the rest of movie. There were a couple of slow spots and a couple of edgy things that were pushed to stir up a little controversy, but overall I loved this movie.
Make sure you go out and see it. The people behind this movie need our support. There were more people in the theatre for American Carol then for any movie I have gone to see in a long time! So I have my fingers crossed that the numbers are going to be good.
Thanks KF
October 5, 2008 - 11:55 ET by general companyGreat, we have been interested in this movie to.
"Television is a freak show" Bernie Goldberg
Saw it last night and I
October 5, 2008 - 12:34 ET by HermanoSaw it last night and I concur. One of the most poiniant moments was with the Ghost of 4th of July's past - George Washington, played by Jon Voight. He opens a door and... see the movie to find out.
At the theater I watched it at, they played a preview of the movie "W." It ended with "See it in theaters on such and such date." Then during a little silence between trailers, I said in a not so quiet voice, "Yeah, right." the 30 or so people within earshot all started laughing. The theater was almost completely full, BTW.
The Newsbusters Comments Crew: Saving the Environment - One Ribeye at a Time! h/t Dr_Liberty
Carol ahead so far
October 5, 2008 - 12:37 ET by JoelCTIt's a close matchup so far. Here are the weekend estimates:
Movie Friday / Saturday / Sunday = Total
Carol $1,225,000 / $1,550,000 / $1,035,000 = $3,810,000
Religulous $1,100,000 / $1,400,000 / $1,000,000 = $3,519,000
$4 million bucks? Wow, that
October 5, 2008 - 15:25 ET by ckc1227$4 million bucks? Wow, that sucks. Plus "Religious" was in a third of the theaters(500) that "American Carol"(1600) was in. Ouch!
Obama's Economic plan: more taxes, more spending, more regulation. Prosperity here we come.
Somewhat Dubious
October 5, 2008 - 15:56 ET by Kingfish17I'm not saying JoelCT's dollar figures aren't accurate, but unless he is precognative, how can he know what Sunday's dollar figures are when he posted these numbers at 1:30 pm EDT on Sunday?
Only BHO can do that sort of thing.
(EDIT)
(Sorry JoelCT. I saw the "estimate" part after I made this post.
'S OK
October 5, 2008 - 20:11 ET by JoelCTIt's ok, <sniff> I'll get over it... somehow.
»→ American Carol
October 5, 2008 - 12:47 ET by Cool ArrowI was disappointed. Got bored waiting for something inspired.
The only scene filled with biting sarcasm was the Slave Scene. Rest of the movie was low hanging fruit.
"John McCain has not talked about my Muslim Faith" - Barack Hussein Obama
I liked it.
October 5, 2008 - 20:14 ET by JWFThe overall theme was deathly serious. Kinda hard to work with. But I thought they did it well.
Sincerely,
a Veteran of a 1000 psychic wars.
McCain's Keystone Cops
October 5, 2008 - 11:20 ET by billbI've never seen such an inept campaign in my life! Now they're providing Obama with a timeline of coming events. Is McCain putting his strategy up for approval or concensus?
Puffington Dolt slams Palin saying support, instead of "help"
October 5, 2008 - 12:05 ET by Jack BauerIt's hardly worth quoting some of the media's "Let's Get Palin" psychosis anymore.
It's beyond insane and it's like you're living in some parallel looniverse.
But Powerline has the whole story of how the Puffington Dolt is actually running a story slamming Palin because in quoting Madeline Albright, the Governor actually used the synonymous word "support" instead of "help."
There's something really wrong in these people's brains.
Well, Governor, that's what the "media" turned it into. I do hope you avoid any more recorded and edited interviews with these dolts.
Iowa Democrats get more sleazy
October 5, 2008 - 12:40 ET by nkviking75Iowa Democrats are racheting up the sleaze factor in state legislative races this year. Party officials turned over a binder full of information on Republican incumbents and challengers running for the Iowa House and Senate to the Des Moines Register. Democrats claim that there are an unusually high number of Republicans with legal problems. Get this quote from the House Democratic leader (Dems hold majorities in both houses):
"If these candidates were elected to office," [Kevin] McCarthy said, "it would not be a stretch that we would need to establish night court at the state Capitol, together with a bailiff and maybe bring in Jerry Springer to cover it."
The Register's article, which appears in today's paper, also notes:
The Register's review of online state and federal court records showed that none of the Republican or Democratic incumbents has any felonies or outstanding warrants. Nor do any of the Democratic challengers, although two Republican challengers do.
Most candidates from both parties have blank court records, aside from small-claims cases or traffic violations, records show.
When you put the clowns in charge, don't be surprised when a circus breaks out.
"God Forbid Palin get in"
October 5, 2008 - 14:39 ET by exLibAnybody catch John Roberts on CNN's American Morning or whatever it's called.
I think it was Friday morning, but as he was speaking to someone he says "God forbid this woman get elected".
No, exlib
October 5, 2008 - 15:30 ET by Cool ArrowI can't find that quote online.
"John McCain has not talked about my Muslim Faith" - Barack Hussein Obama
So who do Federal Judges prefer?
October 5, 2008 - 15:20 ET by DelsaNOT the private sectoe.
Citicorp is in trouble and needs the federal dollars. They cannot help Wachovia where Wells can.
Wells Fargo has been and is STRONG. The private investing and funding should go forward.
But looks like judges have the say.
GO WELLS FARGO
Thirty-nine years ago
October 5, 2008 - 16:25 ET by Roger the ShrubberThirty-nine years ago today, one of the most important events in television history occurred:
the premiere of the greatest show, EVER!!!
Woohoo!
And, now, in celebration of this occasion, I give you, Monty Python's greatest sketch.
Also, today is the birthday of Dr. Loomis, er, Lt. Blythe, er, Ernst Stavro Blofeld...
Call Arnold Slick from Turtle Creek, the greatest hockey player ever turns 43...
And, finally, rock and roll has a few birthdays: Steve Miller, Brian Johnson, Bob Geldof, Brian Connelly, and Fast Eddie Clarke.
»→ Like yesterday
October 5, 2008 - 16:31 ET by Cool ArrowI remember ironing my work clothes at my apartment watching "Take the bra off the dummy"
BTW, what was the name of that Mrs. who exploded?
"John McCain has not talked about my Muslim Faith" - Barack Hussein Obama
Rog
October 5, 2008 - 20:33 ET by Noel SheppardRog,
You think that's the best Python skit? Better than this? Or this? Or this? Or this? Or this? Or this? n
It's all guuuuuuuuud!
October 5, 2008 - 20:50 ET by Roger the ShrubberBarely
Barely
Barely
Barely
hell yes
Barely
Although, I might have accepted this or this :)
Stop that! You're being too silly...
Rog
October 5, 2008 - 21:50 ET by Noel SheppardRog,
We have different Python tastes. :-) ns
I like to think we just
October 6, 2008 - 07:50 ET by Roger the ShrubberI like to think we just prefer different vegetables on the side, Noel :)
»→ Joe Biden? or Bob Barker?
October 5, 2008 - 18:06 ET by Cool ArrowBe sure to spay or neuter your pets. Maybe they're just twins.
"John McCain has not talked about my Muslim Faith" - Barack Hussein Obama
Anybody watching "Huckabee" on FOX?
October 5, 2008 - 19:35 ET by bloolooHe has Jon Voight on and Jon is mentioning the 3 "A's" with regard to Obama...
1. William Ayers
2. Saul Alinsky
3. ACORN
This might become the "catch phrase" that the conservatives need to keep these stories out in front of the American people.
"I might be movin' to Montana soon..." - FZ
Jon Voight on Huckabee
October 5, 2008 - 19:38 ET by Michael M. BatesHe did a terrific job. Too bad only the faithful heard him.
Anybody watching "Huckabee" on FOX? - NO !
October 5, 2008 - 19:40 ET by Free StinkerAnybody watching "Huckabee" on FOX?
NO ! I blame &%$#@! Hucklbee for McCain getting the GOP nomination.
Free... GOOD
October 5, 2008 - 19:41 ET by Clear thinkerFree...
GOOD POINT!
Obama Must Prove He’s American Born
Making Fun of AGW http://giovanniworld.wordpress.com/
»→ Joe Biden suspends Campaign
October 5, 2008 - 19:37 ET by Cool ArrowJoe Biden's Mother-in-law passed away.
Suspending campaign thru Tues.
"John McCain has not talked about my Muslim Faith" - Barack Hussein Obama
Oh isn't this lovely...a
October 5, 2008 - 20:28 ET by bigtimerOh isn't this lovely...a little late my friends...
A few have us out here have been keeping track of this, attempted to make an issue out of it with our different links with latest info..now you are a little late to the party...
You cannot possible think there will be anything done about this now before the election...
This is one episode of too little, too late.
I just shake my head...
"America isn't the problem...America is the solution." ~ Rush Limbaugh
Take heart, it ain't over till the Fat Head blings
October 6, 2008 - 13:51 ET by Jack BauerI'd believe in aliens probes before I'd believe Obama on anything.
And to cheer up all conservatives... more wisdom from the year 2000.
http://www.slate.com...