Archive for the ‘Economy’ Category

AIG’s insistence on bonuses raises ire in Washington

March 15, 2009

(CNN) — White House officials and some members of Congress reacted strongly Sunday to news that insurance giant AIG had intended to pay out $165 million in bonuses and compensation. The company has received at least $170 billion in federal bailout money. (more…)

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How to stop the drug wars

March 6, 2009

Mar 5th 2009
From The Economist print edition

Prohibition has failed; legalisation is the least bad solution

Illustration by Noma Bar

A HUNDRED years ago a group of foreign diplomats gathered in Shanghai for the first-ever international effort to ban trade in a narcotic drug. On February 26th 1909 they agreed to set up the International Opium Commission—just a few decades after Britain had fought a war with China to assert its right to peddle the stuff. Many other bans of mood-altering drugs have followed. In 1998 the UN General Assembly committed member countries to achieving a “drug-free world” and to “eliminating or significantly reducing” the production of opium, cocaine and cannabis by 2008.

That is the kind of promise politicians love to make. It assuages the sense of moral panic that has been the handmaiden of prohibition for a century. It is intended to reassure the parents of teenagers across the world. Yet it is a hugely irresponsible promise, because it cannot be fulfilled. (more…)

Music taste ‘linked to drug use’

January 1, 2009

More than a quarter of classical music fans have tried cannabis, says a study from the University of Leicester.

Researchers were trying to find out what people’s taste in music revealed about their lifestyles.

They discovered that fans of every style of music had taken drugs, with those who preferred DJ-based club music topping the list. (more…)

Bush’s Final F.U.

December 15, 2008

The administration is rushing to enact a host of last-minute regulations that will screw America for years to come

TIM DICKINSON

Posted Dec 25, 2008 11:55 AM

With president-elect Barack Obama already taking command of the financial crisis, it’s tempting to think that regime change in America is a done deal. But if George Bush has his way, the country will be ruled by his slash-and-burn ideology for a long time to come. (more…)

10 Republicans Who Should Go Away

December 15, 2008

Ben Cohen Mon Nov 24, 10:04 am ET

With a new political era looming, veterans of the old political arena will scramble to redefine themselves in order to make a living. Politicians, media commentators and analysts may be ill equipt to deal with the changing electorate, increased power of the blogosphere and massive discontent with the status quo. Who will survive in the modern epoch? Here are 10 who should really think about calling it quits: (more…)

Big Three CEOs Flew Private Jets to Plead for Public Funds

November 19, 2008

Auto Industry Close to Bankruptcy But They Get Pricey Perk

By BRIAN ROSS and JOSEPH RHEE

November 19, 2008—

The CEOs of the big three automakers flew to the nation’s capital yesterday in private luxurious jets to make their case to Washington that the auto industry is running out of cash and needs $25 billion in taxpayer money to avoid bankruptcy.

The CEOs of GM, Ford and Chrysler may have told Congress that they will likely go out of business without a bailout yet that has not stopped them from traveling in style, not even First Class is good enough. (more…)

5 Reasons Sarah Palin Would Lose a 2012 Presidential Bid

November 14, 2008

Sarah PalinBefore John McCain’s presidential bid had even ended, many were touting Sarah Palin as a possible GOP presidential candidate for 2012. And in an interview with Matt Lauer this morning, Palin said that, “if there is a door open in 2012 or four yeas later…then I’ll plow through that door.”

If Sarah Palin tries to run for president in 2012, she’ll get plowed over. In fact, she probably wouldn’t even make it out of the primary. Palin-watchers can take their pick from a plethora of reasons as to why. (more…)

Election unleashes a flood of hope worldwide

November 7, 2008
Wednesday, November 5, 2008

PARIS: From the front lines of Iraq to more genteel spots like Harry’s Bar in Paris, the election of Barack Obama opened a floodgate for the world’s hope that a new U.S. leader would redeem promises of change, rewrite the political script and provide a kind of leadership that would erase the bitterness of the Bush years.

Whether it was because of Obama’s youth, race, message or manner, some European leaders abandoned diplomatic niceties to compete for extravagance in their praise, while others outside the United States – fascinated by an election that had been scrutinized around the globe – reached for their most telling comparisons. (more…)

So Little Time, So Much Damage

November 5, 2008
November 4, 2008
Editorial

While Americans eagerly vote for the next president, here’s a sobering reminder: As of Tuesday, George W. Bush still has 77 days left in the White House — and he’s not wasting a minute.

President Bush’s aides have been scrambling to change rules and regulations on the environment, civil liberties and abortion rights, among others — few for the good. Most presidents put on a last-minute policy stamp, but in Mr. Bush’s case it is more like a wrecking ball. We fear it could take months, or years, for the next president to identify and then undo all of the damage. (more…)

NO BONUSE$ FOR YOU

November 5, 2008

New York Post

NO BONUSE$ FOR YOU

By NELL MINOW

November 2, 2008 –Secretary Henry Paulson came up with a $700 billion emergency plan to pour government money into the Wall Street firms to save them from collapsing – not to fund a bonus pool for the billionaire boys’ clubs of the investment banking firms. It is the economy that is supposed to be bailed out – like the millions of homeowners currently or soon to face foreclosure – not the bankers.

(more…)