The Kensington Review

17 September 2008


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Latest Commentary: Volume VII, Number 111
Palin Won’t Cooperate in “Troopergate” Probe -- Alaska Governor Sarah Palin has announced she won’t cooperate with the state legislature’s investigation into the firing of Alaska’s Public Safety Commissioner Walt Monegan. The allegation is that she and her family wanted former brother-in-law, State Trooper Mike Wooten, kicked off the force. When that didn’t happen, the governor sacked Mr. Monegan. Ms. Palin is making a mistake.

Ukraine’s Coalition Splits, Elections Don’t Loom -- The Russo-Georgian conflict claimed another victim yesterday, the ruling coalition of Ukraine. President Victor Yushchenko has 30 days to cobble together a new government. If he can’t, the country will go to the polls. However, the politics of Ukraine have undergone a tectonic shift that may mean elections are unnecessary.

US Nationalizes American International Group -- The administration of George W. Bush turns out to be a raging bunch of pinkos. Overnight, the government loaned $85 billion to troubled insurance giant American International Group in exchange for 79.9% of the company. That’s right. Mr. & Mrs. America now own the insurance company that the financial hotshots decided was too big to fail. Actually, they got a good deal; $85 billion at Libor plus 8.5% (11.31% at the moment) for two years, backed by over $1 trillion in AIG assets.

Fed Holds Interest Rates Stable -- The Federal Reserve chose to leave American interest rates unchanged, with the fed funds rate at 2%. The financial industry had hoped for a cut to pump money into the system and halt the pain of Lehman’s collapse. The Fed, however, did the right thing in holding off.

© Copyright 2008 by The Kensington Review, Jeff Myhre, PhD, Editor. No part of this publication may be reproduced without written consent. Produced using Fedora Linux.

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