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| Latest Commentary: | Volume VII, Number 115 |
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Rightists Delay Finance Industry Rescue Package -- The rightists in the House of Representatives yesterday went into open revolt against their president and his treasury secretary, delaying the Wall Street rescue package. Rather than sign onto a deal that had been brokered over the last several days, they offered a brand new approach that Treasury Secretary Henry Paulson said won’t work. Congressman Barney Frank (D-MA) this morning said, “At this point, we have absolutely no participation or cooperation from House Republicans.” Meanwhile as if to remind everyone of what is at stake, Washington Mutual failed and was snapped up by JPMorganChase for about $2 billion
Pakistan Shoots as US Helicopters -- The Pakistani government has given its forces orders to repel any US or Afghani forces crossing the border from Afghanistan pursuing possible Al Qaeda or Taliban operatives. Yesterday, two US helicopters received fire from Pakistani ground forces. The US claimed the choppers hadn’t crossed the border and didn’t return fire. The Pakistanis said both of those statements were false. And these two countries are supposed to be allies. Buffet Buys $5 Billion Stake in Goldman Sachs -- One good way to lose money is to do the opposite of what Warren Buffet and his Berkshire Hathaway enterprise do. It’s not that he’s perfect, but he’s right often enough and profits often enough to be the richest investor on the planet. So, the world should take note of his $5 billion investment in Goldman Sachs. House OKs $25 Billion Loan Package for Detroit -- On Wednesday while the McCain Campaign was suspending its operations to deal with the credit problems, the US House of Representatives quietly passed a $25 billion loan package for the Big 3 (or 2.5) US car makers. The vote wasn’t even close, 370 yea and 58 nay. Could it be that Michigan and Ohio, where the Big 3 operate, are swing states this election? © 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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