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FBI Looking Into MF Global

Bankruptcy may be the least of MF Global’s problems: the FBI is one of several federal agencies investigating the bankrupt brokerage firm run by former New Jersey governor Jon Corzine. According to The New York Times, there is no indication yet that any criminal laws were broken. But $600 million in customer money has yet to surface. The Commodity Futures Trading Commission and the SEC are investigating whether MF Global used customer funds to support its own trades to prop up the company in its final days. MF Global’s lawyers say that there is no shortfall.
Read it at The New York TimesNovember 2, 2011 6:24 AM

French Newspaper Firebombed

The Paris office of the French satirical newspaper Charlie Hebdo was firebombed early Wednesday, one day after the paper named the Prophet Muhammad the “editor-in-chief” of the latest issue and rechristened itself “Sharia Hebdo” to “celebrate” the victory of Tunisia’s Islamist party Ennhada. The attackers threw a single Molotov cocktail into the office. “We no longer have a newspaper,” said the magazine’s editor in chief, who is known as Charb. “All our equipment has been destroyed or has melted.” He said, however, that the staff will do everything it can to put out another issue next week. No one was injured in the attack, and police are looking for two suspects spotted near the scene.

Bloomberg: Banks Didn’t Cause Crisis

Maybe New York City Mayor Michael Bloomberg is trying to get the goat of Occupy Wall Street protesters. He said on Tuesday that big banks are not to blame for the financial crisis. “It was not the banks that created the mortgage crisis,” Bloomberg said Tuesday. “It was, plain and simple, Congress who forced everybody to go and give mortgages to people who were on the cusp.” He said, “We want to go vilify the banks because it’s one target, it’s easy to blame them, and Congress certainly isn’t going to blame themselves.”

We’re No Longer Alone: Obama’s Tax Lies Refuted Throughout Media

Do you remember (it wasn’t that long ago) when Barack Obama told the “rich fat cats” on Wall Street…? This is back during the days of the AIG and other Wall Street bonus scandal, and you had all of Obama’s ACORN-type people showing up on the front yards of AIG homes to protest their bonuses. Remember Obama telling the AIG people and all the other, quote, unquote, “rich fat cats” on Wall Street that he was the only thing standing between them and the pitchforks? Well, guess what? Now it is only Obama’s skin color that is standing between him and the pitchforks of the Congressional Black Caucus. Members of the Congressional Black Caucus are openly admitting: If this were a white president who had done this economically to their constituents, they would be marching on the White House.   

Job’s Job’s Job’s

By Rich Galen   September 21, 2011 

The Popular Press is swooning over what they consider to be the new-found potency in President Barack Obama’s demands that the Congress pass his Jobs Bill.

For reasons which I cannot understand, the President decided to make his case for his bill by leading with who was going to pay for it, notwithstanding we have no idea how the first job will be created by the jillions of dollars of new taxes he is proposing.

You want people who make millions of dollars a year to pay more in taxes? Ok. I don’t have an answer to that.

But somehow, in the translation, anyone with a family income north of about $250,000 (husband and wife each making a little over $10 k per month) becomes the equal of Warren Buffett’s income and needs to be penalized for the family’s success.

Hello? Here’s what I would have done, had I owned the world:

I would have made the Republicans and the Democrats in the House and Senate sit in the House Chamber (the Senate isn’t big enough) and I would have had House Majority Leader Eric Cantor and Senate Majority Leader Harry Reid put before the joint session one idea to create jobs after another.

Message to Obama: Stop the ‘Fair Share’ Garbage

Whenever a left wing plan fails, as have all of Obama’s tax and spend plans, the only possible reason liberals can imagine is that the plan wasn’t big enough and didn’t spend enough. It’s never that the logic was faulty or that their plan would hurt rather than help the economy. So everyone get ready. Get ready for more of the same. Barack Obama has proposed another “jobs” plan, and on Monday he announced $1.5 trillion in new taxes. He wants to create jobs by further taxing the job creators


Boehner Won’t Budge

House Speaker John Boehner’s speech in response to President Obama’s $447 billion jobs bill could be said to be conciliatory—if conciliatory means softening his rhetoric and disagreeing with everything else. He still blasted the employment plan, calling it full of “short-term gimmicks.” And he firmly reiterated his no-tax-increase position. The Daily Beast’s Patricia Murphy says the fact that Boehner won’t budge on tax reform is a non-starter.

Boehner urges debt committee to tackle tax reform

WASHINGTON (AP) – House Speaker John Boehner says the congressional committee charged with recommending large deficit cuts should lay the groundwork for tax changes that would enhance economic growth.

GOP wins Wiener’s House seat in Democrat district


NEW YORK (AP) – It sounded improbable on the surface that a New York City congressional district where Democrats have a 3-1 registration edge and have held office for nearly a century could even come close to electing a Republican to the U.S. House. But voter frustration over the sour economy and President Barack Obama’s policies made the improbable a reality, as a Republican political novice, Bob Turner, scored an upset victory in a special election Tuesday.

Washington Update

Obama Proposes Higher Taxes on Wealthy to Fund Jobs Bill (Washington Post)

President Obama announced plans Monday to fund his $447 billion jobs bill largely by raising taxes on wealthier families, provoking immediate opposition from congressional Republicans. The sequence of event suggests that despite the recent pledges of greater bipartisanship, many of the fiscal and economic stumbling blocks that have left Washington gridlocked in recent months remain firmly in place. The White House said Congress should pay for the jobs plan by imposing new limits on itemized deductions for individuals who earn more than $200,000 a year and families earning more than $250,000. Eliminating those deductions would bring in an additional $400 billion in revenue, aides said. The administration also recommended ending subsidies for oil and gas companies and changing the depreciation rules for corporate airplanes.
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