Posts
Tuesday, June 9, 2009
ECONOMY: BANKS TO PAY BACK
$50 BILLION TO TREASURY
WALL STREET JOURNAL: The Treasury Department expects an initial payback from the nation's largest banks of at least $50 billion in bailout funds . . . The $50 billion of repayments is the latest sign of improvement in the banking sector. . . . READ MORE
DEEDS WINS VA. DEM PRIMARY
WASHINGTON POST: Running with the least money and fewest ties to vote-rich Northern Virginia, State Sen. R. Creigh Deeds has won the three-way Democratic primary for governor, paving the way for a rematch with Republican Bob McDonnell in the fall. . . . READ MORE
WALL ST. P.M. 06.09.09
STOCKS POST SMALL LOSS
DOW JONES. -1.43 CLOSE: 8763.06
NASDAQ +17.73 CLOSE: 1860.13
S&P 500 +3.28 CLOSE: 942.43
WALL STREET JOURNAL: The dollar fell sharply Tuesday as a pop in oil prices and stability in U.S. stock markets boosted risk appetite and sent investors into currencies that pay higher yields than the greenback. . . . READ MORE
ASSOCIATED PRESS: Stocks ended a quiet day mostly higher Tuesday as traders pushed money into commodity and technology stocks. Higher commodity prices suggest investors expect the economy to improve and have a greater appetite for basic materials. . . . READ MORE
OIL HIKE HURTS RECOVERY
CNN/MONEY: Oil prices near $70 a barrel. Goldman Sachs recently said it sees crude at $85 by the year's end. With the economy still on life support, oil is drifting dangerously close to being the wet blanket at the recovery's party. . . . READ MORE
INVESTORS HEDGE; GOLD RISES
THE AGE/AUSTRALIA: Gold rose . . . on speculation that a weaker dollar will spur demand for the metal as an alternative investment. . . . "When we look at gold, we think that it’s going to be something that investors are going to increasingly want to have in their portfolios," Peter Arden, an Ord Minnett analyst, said today in a Bloomberg Television interview . . . READ MORE
GEITHNER: 'STORM RECEDING'
AP/BREITBART: In Italy for an upcoming G-8 meeting, U.S. Treasury Secretary Timothy Geithner said Tuesday, "I think it's fair to say that the force of the global storm is receding a bit." . . . READ MORE
NASDAQ +17.73 CLOSE: 1860.13
S&P 500 +3.28 CLOSE: 942.43
WALL STREET JOURNAL: The dollar fell sharply Tuesday as a pop in oil prices and stability in U.S. stock markets boosted risk appetite and sent investors into currencies that pay higher yields than the greenback. . . . READ MORE
ASSOCIATED PRESS: Stocks ended a quiet day mostly higher Tuesday as traders pushed money into commodity and technology stocks. Higher commodity prices suggest investors expect the economy to improve and have a greater appetite for basic materials. . . . READ MORE
OIL HIKE HURTS RECOVERY
CNN/MONEY: Oil prices near $70 a barrel. Goldman Sachs recently said it sees crude at $85 by the year's end. With the economy still on life support, oil is drifting dangerously close to being the wet blanket at the recovery's party. . . . READ MORE
INVESTORS HEDGE; GOLD RISES
THE AGE/AUSTRALIA: Gold rose . . . on speculation that a weaker dollar will spur demand for the metal as an alternative investment. . . . "When we look at gold, we think that it’s going to be something that investors are going to increasingly want to have in their portfolios," Peter Arden, an Ord Minnett analyst, said today in a Bloomberg Television interview . . . READ MORE
GEITHNER: 'STORM RECEDING'
AP/BREITBART: In Italy for an upcoming G-8 meeting, U.S. Treasury Secretary Timothy Geithner said Tuesday, "I think it's fair to say that the force of the global storm is receding a bit." . . . READ MORE
TERRORISM: HUGE BOMB
STRIKES PAKISTAN HOTEL
NEW YORK TIMES: Militants opened fire on security guards and rushed a small truck packed with explosives through the gates of a five-star hotel . . . detonating a huge bomb in the parking lot that killed at least 11 people and wounded 55 . . . READ MORE
AL-JAZEERA: At least 11 people are reported to have been killed and 46 wounded after a gun and bomb attack on a five-star hotel in the Pakistani city of Peshawar. Armed men entered the Pearl Continental hotel . . . on Tuesday and detonated explosives. . . . READ MORE
U.S. PLANNED TO BUY HOTEL
ROBERT MACKEY/NYT: The hotel was an obvious target for militants -- even before a report surfaced two weeks ago that the United States was planning to buy the hotel as part of a plan to greatly expand its diplomatic presence in the city. . . . Saeed Shah and Warren P. Strobel of McClatchy Newspapers reported the hotel was apparently at the center of an American plan to establish a long-term presence in Peshawar . . . READ MORE AP NEWS VIDEO:
REUTERS: Militants shot their way through a security post at the gate of the Pearl Continental Hotel in the northwestern city of Peshawar and a suspected suicide bomber set off the truck-bomb in front of the lobby. . . . "I was in the Chinese restaurant when we heard firing and then a blast. It was totally dark and people started shouting and running," hotel waiter Ali Khan . . . READ MORE
UK TIMES: It was the latest in a series of recent militant attacks on Pakistan’s main cities , , , Suspected militants opened fire at the Pearl Continental hotel shortly before a large explosion tore through it, starting a fire that swept through the building, according to witnesses and security officials. They described seeing a deep crater outside the four-storey building in the high-security Khyber Road area, and rescue workers carrying several wounded people, including at least two foreigners, to safety. One of the foreigners worked for the United Nations’ children’s agency . . . READ MORE
THE NEWS/PAKISTAN: The injured include mainly the servants of the hotel. . . . The whole area is plunged into darkness. The blast site is awash with smoke. The building caught fire soon after the blast. Several vehicles were destroyed in the blast. The sounds of gunshots are still being heard in the area. At least 40 injured were rushed to Lady Reading Hospital. A large number of security personnel arrived on the spot and cordoned off the area. Khyber Road has been blocked for traffic. . . . READ MORE
BBC: A suicide bomb attack on a luxury hotel . . . has killed at least 11 people and injured dozens more. Reports say gunmen stormed the outer security barrier at the Pearl Continental Hotel before blowing up a vehicle in the car park. . . . READ MORE
CNN: A bomb exploded at a major hotel Tuesday in the northwest Pakistani city of Peshawar, killing at least five . . . . READ MORE
AP/BREITBART: At least five people were killed and 50 others injured . . . City administration official Sahibzada Anis told reporters at the site that the casualty figure might go up as people buried under the debris were being removed . . . READ MORE
UK TELEGRAPH: The death toll from the blast and suspected gun attack at the Pearl Continental Hotel late last night was expected to more than double, rescue workers said, as fears grew that a significant number of foreigners could be among the victims. . . . READ MORE
BLOG REACTION:
AL-JAZEERA: At least 11 people are reported to have been killed and 46 wounded after a gun and bomb attack on a five-star hotel in the Pakistani city of Peshawar. Armed men entered the Pearl Continental hotel . . . on Tuesday and detonated explosives. . . . READ MORE
U.S. PLANNED TO BUY HOTEL
ROBERT MACKEY/NYT: The hotel was an obvious target for militants -- even before a report surfaced two weeks ago that the United States was planning to buy the hotel as part of a plan to greatly expand its diplomatic presence in the city. . . . Saeed Shah and Warren P. Strobel of McClatchy Newspapers reported the hotel was apparently at the center of an American plan to establish a long-term presence in Peshawar . . . READ MORE AP NEWS VIDEO:
REUTERS: Militants shot their way through a security post at the gate of the Pearl Continental Hotel in the northwestern city of Peshawar and a suspected suicide bomber set off the truck-bomb in front of the lobby. . . . "I was in the Chinese restaurant when we heard firing and then a blast. It was totally dark and people started shouting and running," hotel waiter Ali Khan . . . READ MORE
UK TIMES: It was the latest in a series of recent militant attacks on Pakistan’s main cities , , , Suspected militants opened fire at the Pearl Continental hotel shortly before a large explosion tore through it, starting a fire that swept through the building, according to witnesses and security officials. They described seeing a deep crater outside the four-storey building in the high-security Khyber Road area, and rescue workers carrying several wounded people, including at least two foreigners, to safety. One of the foreigners worked for the United Nations’ children’s agency . . . READ MORE
THE NEWS/PAKISTAN: The injured include mainly the servants of the hotel. . . . The whole area is plunged into darkness. The blast site is awash with smoke. The building caught fire soon after the blast. Several vehicles were destroyed in the blast. The sounds of gunshots are still being heard in the area. At least 40 injured were rushed to Lady Reading Hospital. A large number of security personnel arrived on the spot and cordoned off the area. Khyber Road has been blocked for traffic. . . . READ MORE
BBC: A suicide bomb attack on a luxury hotel . . . has killed at least 11 people and injured dozens more. Reports say gunmen stormed the outer security barrier at the Pearl Continental Hotel before blowing up a vehicle in the car park. . . . READ MORE
CNN: A bomb exploded at a major hotel Tuesday in the northwest Pakistani city of Peshawar, killing at least five . . . . READ MORE
AP/BREITBART: At least five people were killed and 50 others injured . . . City administration official Sahibzada Anis told reporters at the site that the casualty figure might go up as people buried under the debris were being removed . . . READ MORE
UK TELEGRAPH: The death toll from the blast and suspected gun attack at the Pearl Continental Hotel late last night was expected to more than double, rescue workers said, as fears grew that a significant number of foreigners could be among the victims. . . . READ MORE
BLOG REACTION:
CRIME: CHARGES DROPPED
IN GANG RAPE OF GIRL, 15
WFOR-TV/MIAMI, FLA.: The Broward State Attorney's Office has decided not to file criminal charges against two of the men accused of participating in the rape of a 15-year-old girl. . . . James Hunte and Ryan Johnson will not face charges, even though Plantation Police reports indicated that both men admitted receiving a sex act from the girl. . . . READ MORE
ORLANDO SUN-SENTINEL: The Broward State Attorney's Office says a 15-year-old girl who said she was gang-raped in an apartment is not cooperating with authorities, so prosecutors have declined to file charges against two men in the case. . . . READ MORE
BLOG COMMENT: RED ALERTS, THE CURVATURE, THE NEW AGENDA, WHAT ABOUT OUR DAUGHTERS
ORLANDO SUN-SENTINEL: The Broward State Attorney's Office says a 15-year-old girl who said she was gang-raped in an apartment is not cooperating with authorities, so prosecutors have declined to file charges against two men in the case. . . . READ MORE
BLOG COMMENT: RED ALERTS, THE CURVATURE, THE NEW AGENDA, WHAT ABOUT OUR DAUGHTERS
TOP STORY: OBAMA AND JOBS
REUTERS: President Barack Obama said on Monday accelerated stimulus spending would create or save 600,000 jobs over the next 100 days, pledging action to slow the growth of unemployment that has reached a 25-year high. . . . READ MORE
ASSOCIATED PRESS: The job estimate is so murky, it can never be verified. The economy has shed 1.6 million jobs since the stimulus measure was signed in February, far overshadowing White House announcements estimating the effort has saved 150,000 jobs. Public opinion of Obama’s handling of the economy has declined along with the jobs data. . . . READ MORE
WALL STREET JOURNAL: "Saved or created" has become the signature phrase for Barack Obama as he describes what his stimulus is doing for American jobs. His latest invocation came yesterday, when the president declared that the stimulus had already saved or created at least 150,000 American jobs -- and announced he was ramping up some of the stimulus spending so he could "save or create" an additional 600,000 jobs this summer. . . . READ MORE
FORBES: This is not a new claim or a new number, but it underscores one of the biggest challenges of the public relations act that accompanies the stimulus package -- convincing the American people that it's doing what it's supposed to be doing. . . . READ MORE
WASHINGTON POST: Amid all the bickering over statistics, here are two numbers that are not in dispute -- 9.4 and 42. The first is the unemployment rate as of May . . . The second is the percentage of respondents in the latest Gallup poll who disapprove of Obama's handling of the economy, up 12 points since February. . . . READ MORE
CATO/JEFFREY A. MIRON: The concept of "jobs saved" is problematic; it allows the administration to conclude, no matter how bad things get, that the stimulus worked because the economy would have been even worse without the stimulus. . . . READ MORE
BLOG COMMENTARY:
ASSOCIATED PRESS: The job estimate is so murky, it can never be verified. The economy has shed 1.6 million jobs since the stimulus measure was signed in February, far overshadowing White House announcements estimating the effort has saved 150,000 jobs. Public opinion of Obama’s handling of the economy has declined along with the jobs data. . . . READ MORE
WALL STREET JOURNAL: "Saved or created" has become the signature phrase for Barack Obama as he describes what his stimulus is doing for American jobs. His latest invocation came yesterday, when the president declared that the stimulus had already saved or created at least 150,000 American jobs -- and announced he was ramping up some of the stimulus spending so he could "save or create" an additional 600,000 jobs this summer. . . . READ MORE
FORBES: This is not a new claim or a new number, but it underscores one of the biggest challenges of the public relations act that accompanies the stimulus package -- convincing the American people that it's doing what it's supposed to be doing. . . . READ MORE
WASHINGTON POST: Amid all the bickering over statistics, here are two numbers that are not in dispute -- 9.4 and 42. The first is the unemployment rate as of May . . . The second is the percentage of respondents in the latest Gallup poll who disapprove of Obama's handling of the economy, up 12 points since February. . . . READ MORE
CATO/JEFFREY A. MIRON: The concept of "jobs saved" is problematic; it allows the administration to conclude, no matter how bad things get, that the stimulus worked because the economy would have been even worse without the stimulus. . . . READ MORE
BLOG COMMENTARY:
POLITICS: VA. DEMS PICK
GOV. NOMINEE TODAY
NY TIMES: Voters in Virginia's Democratic gubernatorial primary today choose between Terry McAuliffe, the former chairman of the Democratic National Committee; State Senator R. Creigh Deeds; and Brian J. Moran, a former member of the House of Delegates. The winner will oppose the Republican candidate, Robert F. McDonnell, in November. . . . READ MORE
MORE VA. PRIMARY COVERAGE:
MORE POLITICS:
MORE VA. PRIMARY COVERAGE:
MORE POLITICS:
N. KOREA: FAMILIES SEEK
LENIENCY FOR JOURNALISTS
REUTERS: Relatives of two U.S. journalists sentenced to 12 years hard labor in North Korea called on Pyongyang to show compassion, while a White House spokesman said the two were innocent and should be freed. . . . READ MORE
BLOG COMMENTARY: AMERICAN POWER, TROGLOPUNDIT, WEEKLY STANDARD, MEMEORANDUM
FOX NEWS VIDEO:
BLOG COMMENTARY: AMERICAN POWER, TROGLOPUNDIT, WEEKLY STANDARD, MEMEORANDUM
FOX NEWS VIDEO:
SPY SCANDAL: CLINTON ORDERS
STATE DEPT. SECURITY REVIEW
CNN: Secretary of State Hillary Clinton said Monday she has ordered a review of security and vetting procedures that let a State Department employee suspected of spying for Cuba slip through the cracks. . . . READ MORE
HERITAGE: The latest Cuban spy discovery involves a guilt-ridden former State Department official, Walter Kendall Myers, and his wife, Gwendolyn Myers, who were recruited by and worked for Cuba intelligence for decades. . . . READ MORE
HERITAGE: The latest Cuban spy discovery involves a guilt-ridden former State Department official, Walter Kendall Myers, and his wife, Gwendolyn Myers, who were recruited by and worked for Cuba intelligence for decades. . . . READ MORE
IRAN: THOUSANDS PROTEST
WALL STREET JOURNAL: Tens of thousands of demonstrators formed a 12-mile human chain across Iran's capital city Monday, chanting for change . . . READ MORE
LEBANON: HEZBOLLAH LOSES
ASSOCIATED PRESS: Lebanon's Western-backed coalition defeated Hezbollah and its allies, according to official results Monday that dealt a stunning setback to the Iranian-backed militants and set the stage for renewed political deadlock in the volatile nation. . . . READ MORE
300 WORDS OR LESS: 06.09.09
Republican Death Spiral?
For those who say the Republican party is in a death spiral, how come Republican candidates lead by double digits in this year's two gubernatorial elections?
In New Jersey, Chris Christie leads incumbent Jon Corzine 51-38 in the latest Rasmussen Poll. In Virginia, three Democrats are beating each other up to face Bob McDonnell in November.
Christie has led Corzine for several months in polling, as having “Wall Street Wizard” on your resume doesn’t seem helpful this election year.
In my home state of Virginia, Democrats thought they had the state going in their direction. Instead, their fractures are showing as another big talker – Terry McAuliffe – has failed to pull away despite big money and big endorsements.
It recalls 1992-93, when Republicans won both states after Bill Clinton’s election. They won with a cowboy conservative – George Allen in Virginia – and a moderate in Christie Todd Whitman, setting the stage for the 1994 takeover of Congress.
The Democrats’ road to holding these seats grows harder each day. Because their best attacks revolve around scaring voters about the past.
Corzine opened his re-election campaign Tuesday by bashing former President George W. Bush. Sorry, he’s gone back to Texas.
The Democrats’ anti-Bob McDonnell website features Pat Robertson. If Jerry Falwell were still alive, he’d be there too. But McDonnell’s favorability polling continues to surpass his Democratic rivals.
Winning both of these states would do wonders for the GOP. It creates a positive bandwagon effect, and in Virginia would keep control of redistricting in Republican hands.
Better yet, the Democrats will be at each others’ throats with losses. Their confidence and cockiness will take a hit. The news story won’t be Limbaugh vs. Frum, but angry Democrats feeling the magic slip away.
--Fisherville Mike
For those who say the Republican party is in a death spiral, how come Republican candidates lead by double digits in this year's two gubernatorial elections?
In New Jersey, Chris Christie leads incumbent Jon Corzine 51-38 in the latest Rasmussen Poll. In Virginia, three Democrats are beating each other up to face Bob McDonnell in November.
Christie has led Corzine for several months in polling, as having “Wall Street Wizard” on your resume doesn’t seem helpful this election year.
In my home state of Virginia, Democrats thought they had the state going in their direction. Instead, their fractures are showing as another big talker – Terry McAuliffe – has failed to pull away despite big money and big endorsements.
It recalls 1992-93, when Republicans won both states after Bill Clinton’s election. They won with a cowboy conservative – George Allen in Virginia – and a moderate in Christie Todd Whitman, setting the stage for the 1994 takeover of Congress.
The Democrats’ road to holding these seats grows harder each day. Because their best attacks revolve around scaring voters about the past.
Corzine opened his re-election campaign Tuesday by bashing former President George W. Bush. Sorry, he’s gone back to Texas.
The Democrats’ anti-Bob McDonnell website features Pat Robertson. If Jerry Falwell were still alive, he’d be there too. But McDonnell’s favorability polling continues to surpass his Democratic rivals.
Winning both of these states would do wonders for the GOP. It creates a positive bandwagon effect, and in Virginia would keep control of redistricting in Republican hands.
Better yet, the Democrats will be at each others’ throats with losses. Their confidence and cockiness will take a hit. The news story won’t be Limbaugh vs. Frum, but angry Democrats feeling the magic slip away.
--Fisherville Mike
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