Palin Preps For Vice Presidential Debate

Not only that, she's gonna win!!!!!


Governor Sarah Palin of Alaska campaigned yesterday at a rally at Capital University in Bexley, Ohio. (Mark Lyons/Getty Images)

I must admit, the lady grows on you. I despise McCain now because he is such a liar; I've swung from support for Sarah to vitriolic opposition to a more nuanced, in-favor position. So be it.

"Palin says she's ready for debate with Biden

Amid growing doubts about her readiness, Sarah Palin said yesterday she is looking forward to the one and only vice presidential debate on Thursday night with Democratic rival Joe Biden.

"I have to admit, though, he's a great debater, and he looks pretty doggone confident, like he's sure he's going to win," she told voters in Columbus, Ohio. "But then again, this is the same Senator Biden who said the other day that University of Delaware would trounce the Ohio State Buckeyes. Wrong!"

You know, the EVERYMAN thing must be rubbing off on me because I am not offended by the ditzy and vacuous response. She's kinda cute, even though I don't like the idea of comparing the debate to a football game.

Given her already-mocked interview with Katie Couric of CBS News last week, some Republicans fear how she will fare in the unscripted forum of a debate. Palin answered her critics, saying on CBS last night that "not only am I ready, I'm willing and able (AP)."

Oh, yeah, so am I! Come on and bring it, girl!!

Hey, there is a precedent!

Poor George Bush

FUCK HIM!!!!!

"In history books, credit may not come easy for Bush" by Peter S. Canellos, Globe Staff | September 30, 2008

WASHINGTON - At home in the White House, the president is probably most proud of the fact that his own composure - and his confidence in himself - never wavered. His presidency may have been, as many critics insist, an exercise in denial, but it would arguably have been worse if he had visibly wilted under the pressure, as Lyndon Johnson and Richard Nixon did.

Not for much longer, asshole!!!!!

For a man who overcame an undisciplined youth, such stoicism in the face of unrelenting demands is a personal victory, a triumph of character.

Permission to puke, readers.

So it probably will be galling for Bush to see his early peccadilloes, dramatized in a new movie, "W.," set to debut in two weeks. The trailer, already playing in theaters, shows the youthful Bush at booze-filled parties and driving his car on his family's front lawn. In one campy scene, his father protests, "Who do you think you are? A Kennedy? You're a Bush. Act like one."

The movie is directed by Oliver Stone, whose style is to approach US history with a blend of satire and tragedy; his movies, including "JFK" and "Nixon," mix aspects of "Saturday Night Live" and William Shakespeare.

Based on Stone's track record, "W." could be either terrible or great, or perhaps both. But its marketing slogan, "Anyone can grow up to be president," is evidence of how Americans right now are less interested in examining Bush's accomplishments than in exploring how he ever got to be president in the first place. --more--"

Fuck Stone's movie!!!

If he doesn't get at 9/11 TRUTH, then it is a WASTE of MONEY in these eyes!!!!

The Greatest Refugee Crisis You Never Heard Of

That's because the U.S. CAUSED IT!!!!

"Pakistani officials estimate the fighting in Bajur has displaced as many as 500,000 people who have sought refuge elsewhere within Pakistan. Most have been taken in by relatives across northwestern Pakistan, though about 100,000 are living in camps."

Also see: Pakistan's Greatest Refugee Crisis Ever

U.S. Caused Pakistan Refugee Crisis

"Fighting prompts Pakistanis to flee; UN says 20,000 go to Afghanistan" by Stephen Graham, Associated Press | September 30, 2008

ISLAMABAD, Pakistan - Heavy fighting between Pakistani troops and insurgents in the lawless tribal regions of the country's northwest has caused some 20,000 Pakistanis to flee across the border into Afghanistan, the United Nations said yesterday.

So despite the lip service, the Pakistan government is still killing its own for us.

"In the last two weeks alone, over 600 Pakistani families [around 20,000 people] have fled into Afghanistan," the UN refugee agency said. The refugees have gone to Afghanistan's Kunar province, which is itself plagued by fighting between Islamic militants and Afghan troops backed by US-led coalition forces.

It is known as OUT of the FRYING PAN and INTO the FIRE!!!

And that is where the refugees are fleeing TO!!!!

Pakistani officials estimate the fighting in Bajur has displaced as many as 500,000 people who have sought refuge elsewhere within Pakistan. Most have been taken in by relatives across northwestern Pakistan, though about 100,000 are living in camps. --more--"

Occupation Iraq: An Insulting Brief

What else would you expect from a Zionist War Daily that helped lie us into this abominable occupation?

THEY are JUST AS RESPONSIBLE for the MASS-MURDER and DEATH as BUSH!!!!

"Funeral set for Conn. native killed in Iraq" by Associated Press | September 30, 2008

MONROE, Conn. - The family of a Connecticut native who was killed in combat in Iraq last week has scheduled his funeral for Thursday in Monroe. Army First Lieutenant Thomas Brown died Sept. 23 after his patrol came under small-arms fire about 60 miles north of Baghdad. Brown grew up in Shelton, Conn., and had been living in Burke, Va. The funeral is scheduled for Thursday at 11 a.m. at St. Jude Church (AP)."

Occupation Iraq: Iraq's Bailout Bill

Here is why:

"Pressures are coming from east and west and north and south, but we are determined to rise above all these difficulties and pressures because we want this agreement to be passed, and we will go ahead despite all that is being said" -- Prime Minister Nouri al-Maliki, U.S. puppet

Huh. Sounds like the U.S. Congress and the American people regarding the Wall Street Looting Bill.

"Maliki working for accord on keeping US troops; Presses for longer stay for forces" by John Daniszewski, Associated Press | September 30, 2008

BAGHDAD - Prime Minister Nouri al-Maliki said yesterday that the government is ready to compromise to reach a security accord with the United States because Iraq still needs American troops despite the drop in violence.

We are NEVER LEAVING, folks!

Didn't this puke say he wanted us to leave about a month ago?

PFFFFFFTTTT!!

We know who is pulling his strings!

In an interview, Maliki said neither he nor Iraq's parliament will accept any pact that does not serve the country's national interests. A poorly constructed plan would provoke so much discord in Iraq that it could threaten his government's survival, he said. Maliki said, however, that he is firmly committed to reaching an accord that would allow US troops to remain in the country beyond next year.

In violence yesterday, gunmen attacked a tribal sheik, Ahmed Salim, wounding him and killing two of his sons in the village of Rasoul in Diyala Province, police said. Separately, an American soldier was killed by small-arms fire during a patrol Monday afternoon in northern Baghdad, the military said.

In Baghdad? I thought we secured that shit!

Supporters of anti-American cleric Moqtada al-Sadr oppose the accord, arguing US forces should leave Iraq as soon as possible. Neighboring Iran also has been speaking out vociferously against a long-term US presence in Iraq.

I'm TIRED of the WAR PROPAGANDA, Zionist War Daily!!!

Would YOU like RUSSIAN OCCUPIERS in CANADA and MEXICO, 'murkns

"Pressures are coming from east and west and north and south, but we are determined to rise above all these difficulties and pressures because we want this agreement to be passed," Maliki said, "and we will go ahead despite all that is being said."

The prime minister also noted with gratitude the high cost paid by American taxpayers, the US military and the forces of other coalition members to secure Iraq's freedom over the past five years.

I hope he didn't gag on the cum shot!

In a separate development yesterday, the Iraqi Defense Ministry said Iraq has bought 12 new US-built reconnaissance planes to monitor militants and the borders, a small step in the country's attempt to reassert itself in air space now controlled by US-led forces.

Oh, so some WAR PROFITS were MADE as the NEXT WAR is set up, huh?

A ministry spokesman, Major General Mohammed al-Askari, said six King Air planes had been delivered and the other six are expected soon. --more--"

Gates Calls For Balanced Wars

Sort of like a balanced meal, huh?

So what's that mean, we need about FIVE WARS going at the same time?

"Gates calls for a balanced military" by Lolita C. Baldor, Associated Press Writer | September 29, 2008

WASHINGTON --Defeating the enemies of tomorrow -- from rogue nations to terror networks -- will require a balanced and nimble military that can coax or confound an adversary as well as it can crush one, Defense Secretary Robert Gates said Monday.

Speaking to a class at the National Defense University, Gates said the Pentagon must have a broad range of capabilities, but should not try to buy its way out of every problem.

Tell it to Wall Street, Bob!

Oh, and btw, I am SICK of the DAMN WARS!!

How about ENDING THEM?!!!!

Instead, he said that lessons learned in Iraq and Afghanistan show that the Defense Department must learn to move with more speed and agility to field needed weapons and equipment. As examples he pointed to the struggles to get to Iraq mine-resistant vehicles and effective countermeasures for deadly roadside bombs -- efforts that stumbled along for months as more troops died before the countermeasures finally took hold.

Asked about the effects of the current economic crisis, Gates acknowledged that the significant increase in defense spending spurred by the wars in Iraq and Afghanistan is probably now over, and the Pentagon will be fortunate if future budgets keep pace with inflation.

Yeah, while the REST OF US will see MASSIVE CUTS!!!

Still, he said he believes the U.S. government and its elected officials have learned their lesson and will avoid the kind of drastic budget cuts that followed previous military buildups for World War 2, the Korean and Vietnam wars and the Cold War.

MISSION ACCOMPLISHED, 'eh, WAR PROFITEERING LOOTERS?!!!!!

"Experience is that ability to recognize a mistake when you make it again," Gates said. "One would hope that the fifth time around that we've learned the lesson." In the end, Gates said, America's ability to deal with future threats will depend on its performance in its current wars.

Then Washington D.C. has no experience in anything because they keep making the same "mistakes!"

Unless they are NOT mistakes at all!!!!

"To be blunt, to fail -- or to be seen to fail -- in either Iraq or Afghanistan would be a disastrous blow to our credibility," Gates said, "both among our friends and allies and among potential adversaries. --more--"

What is "failure?" What is "success?" Unending occupation?

Truth is, I don't give a fuck about U.S. cred; what I want is the CESSATION of U.S. MASS-MURDER, Bob!

I could GIVE A TWO-CENT SHIT about AmeriKa's "credibility!"

Afghan Policeman Kills AmeriKan

A BRIEF, of course!

AmeriKa's MSM wouldn't want you to know the Bush presidency is a failure.

"Afghan officer fires on US troops, kills 1

KABUL - An Afghan police officer opened fire on US troops inside a police station in eastern Afghanistan, killing an American soldier and wounding several others, officials said yesterday. The shooting took place in Paktia province Sunday after US troops and Afghan police brought militant suspects to the station. It was not clear whether the officer who opened fire was a militant who had infiltrated the station (AP)."

The AmeriKan MSM's Syrian Cover Story

Please see:

Israel's Dirty Games

Fatah al-Islam is Mossad

The Redirection

Saudis and Syrians Going At It

Sort of like an AXIS of EVIL?

"Lebanon, Syria blame attacks on militants; 4 soldiers killed in latest bombing" by Borzou Daragahi, Los Angeles Times | September 30, 2008


The mother of a Lebanese soldier displayed a picture of her son as she mourned his death outside her house yesterday. (AFP/ Getty Images)

Tell me again how Muslims are barbarians who hate more than love, Zionist propagandists.

BEIRUT - Lebanese and Syrian authorities yesterday each placed blame for recent bombings on Islamic militants tied to Al Qaeda and probably based in a Palestinian refugee camp in Lebanon.

You mean THIS Al-CIA-Duh?

Yesterday, a roadside bomb struck a military bus in the northern Lebanese city of Tripoli, killing four Lebanese soldiers and a civilian and injuring 30 people, Lebanese officials said. The attack came two days after a 440-pound bomb detonated in a pedestrian area of Damascus, the Syrian capital, killing 17 people.

A senior Lebanese security official said authorities suspect that Jund al Sham, a militant group that was detected first in Afghanistan during the late 1990s and surfaced in Lebanon around 2004, is responsible.

See: Jund al-Sham and Mossad

The official said the bombings were revenge for the Lebanese military's defeat last year of Fatah al Islam, an ally of the militant group, in a months-long battle around the Palestinian refugee camp of Nahr el Bared.

Gotta love the COVER STORY put out by the ZIONIST-CONTROLLED, AGENDA-PUSHING, AmeriKan MSM, huh?

"They are declaring a terrorist war against the Lebanese army to avenge the battle of Nahr el Bared and to demoralize the army and regain the influence that they lost in the last battles," said the official, who requested anonymity. "They are not an organization that has a known command or known spokesman. They're linked to Al Qaeda and have bases in the Palestinian camps."

Yup, "Al-CIA-Duh" linked to PALESTINE, uh-huh!!

FUCK YOU, ZIONIST WAR-MONGERS!!!!

Syrian officials yesterday also suggested that evidence pointed to an Islamic group in Lebanon for the deadly weekend car bomb explosion in Damascus, although they did not name the group. In an official statement, Syria said the explosives-packed vehicle had entered the country a day before the bombing and the alleged driver, who died in the blast, was linked to the group by suspects in custody.

The SAUDIS, the USraelis, what's the DIFFERENCE?

Syrian authorities have asserted that mostly Sunni northern Lebanon has become a hotbed of Islamic extremism, drawing some veterans of the Iraqi insurgency. Radical Sunni groups, often members of the puritanical Salafi movement, have been increasingly active in Lebanon, angered by the perception that the army is allied with the Shi'ite militia Hezbollah and that Lebanon's Sunni leader, Saad Hariri, is ineffectual. --more--"

That enough Zionist bullshit for you, America?

Who knew the stuff was translucent?

Where Were Those Ukranian Weapons Headed?

Certainly NOT to "Al-CIA-Duh!"

"Some US officials fear the cargo aboard the MV Faina, which was seized by pirates Thursday, could end up in the hands of Al Qaeda-linked militants in Somalia.... But US officials, arms analysts, and maritime officials say the more likely original destination was southern Sudan, where the former rebel group Sudan Peoples' Liberation Movement, now governs an autonomous region....

Mark Bellamy, senior fellow in the Africa program at the Washington-based Center for Strategic and International Studies, said.... "There's theoretically a possibility these weapons can fall into the wrong hands, but what is Al Qaeda going to do with tanks in Somalia?"

So WHO then?

Also see: Memory Hole: U.S.-Approved

"US surrounds hijacked cargo ship off Somali coast; Fears vessel could pose terrorist threat" by Edmund Sanders, Los Angeles Times | September 30, 2008

NAIROBI - As additional US warships and helicopters gathered around a hijacked Ukrainian ship off the coast of Somalia yesterday, questions persisted about where the vessel's military cargo was destined and whether it posed a terrorist threat.

Pffft!

Some US officials fear the cargo aboard the MV Faina, which was seized by pirates Thursday, could end up in the hands of Al Qaeda-linked militants in Somalia if the pirates are allowed to escape. Somalia is seen as a key battleground in the war on terrorism in the region, which includes the Gulf of Aden, one of the world's busiest shipping lanes.

Oh, then THAT is WHY Somalia is SO IMPORTANT to the RACIST GLOBALISTS!!!

The governments of Kenya and Ukraine say the shipment of 33 Russian-built T-72 tanks, ammunition, and spare parts was part of a legal sale contracted last year to supply the Kenyan Army, according to representatives of both nations.

Shouldn't that be the end of it then?

But US officials, arms analysts, and maritime officials say the more likely original destination was southern Sudan, where the former rebel group Sudan Peoples' Liberation Movement, now governs an autonomous region. The group has been working aggressively over the last three years to transform its ragtag guerrilla army into a professional fighting force.

"We received reports that the cargo was intended for Sudan, so obviously our goal is to maintain watch over the ship while negotiations are taking place," said Lieutenant Nathan Christensen, spokesman for the US Navy's Bahrain-based 5th Fleet.

Christensen said several US destroyers and cruisers had surrounded the hijacked vessel yesterday, but no further actions were planned. He declined to say exactly how many other Navy ships had joined the USS Howard, a guided-missile destroyer.

The US ships have been deployed within 10 miles of the hijacked vessel and helicopters were circling overhead, Christensen said. He said the ships would remain there while negotiations were continuing between the pirates and the shipping country.

NEGOTIATING with TERRORISTS?

Mark Bellamy, senior fellow in the Africa program at the Washington-based Center for Strategic and International Studies, said the pirates "are more interested in the money than disposing of the cargo. There's theoretically a possibility these weapons can fall into the wrong hands, but what is Al Qaeda going to do with tanks in Somalia?"

Arms analysts questioned why Kenya would purchase Russian-made tanks given that its previous suppliers have been the United States, Britain, and China. Kenya's current tanks are British-built. Southern Sudan, by contrast, has been buying Russian-made tanks over the last year, officials said, including nearly 50 T-54s battle tanks. That deal drew attention in February when one shipment was held up briefly at the port of Mombasa amid postelection turmoil in Kenya.

Andrew Mwangura, head of the Seafarers Assistance Program in Kenya, said at least three arms shipments destined for southern Sudan have moved through Mombasa over the past year. The Kenyan government, however, insisted yesterday that the hijacked cargo is "important military equipment paid for by the Kenyan taxpayer for use by the Kenyan military."

A government spokesman declined to comment on why the government was purchasing Russian-made tanks or how they fit into the country's military strategy. Since signing a 2005 treaty with the regime that ended Sudan's 21-year north-south civil war, the Sudan Peoples' Liberation Movement has not hidden its desire to strengthen its former guerrilla army. It spends about half its budget on military training, salaries, and supplies.

In addition to purchases and assistance from countries such as the United States, Russia, and Ethiopia, the new autonomous southern Sudan government recently announced it might build its own air force. Under the terms of the peace treaty, southern Sudan is permitted to operate and fund its own military, separate from the national Sudanese Army.

The agreement does not prohibit southern Sudan from purchasing foreign weapons, nor is the region restricted by the UN arms embargo, which covers the Darfur region in western Sudan. --more--"

So they must be U.S. OPERATIVE, huh?

The Long And Short of Sudan

Why does the MSM promote one while briefing another?

"Aid helicopter is shot down; 4 dead

KHARTOUM - An aid helicopter for the UN-African Union mission in Darfur was shot down outside a refugee camp yesterday, killing all four crew members and scattering debris over a half-mile, Sudanese police and the UN said. The helicopter went down in Nyala, the capital of South Darfur. It was operated by a private company and hired by the joint mission to carry relief materials to Muhajiria from Nyala (AP)."

And since the Zionist-controlled, agenda-pushing MSM is all over this next story, I am suspicious!

"Troops rescue tourist hostages; Commandos aid Egypt, Sudan" by Sarah El Deeb, Associated Press | September 30, 2008

CAIRO - Egyptian and Sudanese troops, backed by European commandos, swooped down in helicopters yesterday to rescue a tour group that had been kidnapped in Egypt and taken on a 10-day dash across the Sahara to the frontier of Chad.

Freedom for the 11 European tourists and eight Egyptian guides came hours after Sudanese troops killed six of the abductors and captured two who revealed where the remaining gunmen were holding their captives. The European tourists and Egyptian guides returned to Cairo unharmed yesterday.

Some Egyptian officials spoke privately of a gun battle with the kidnappers that killed several of the gunmen, but there was no official confirmation of the reports. The five Germans, five Italians and a Romanian, along with eight Egyptian drivers and guides, arrived in Cairo on a military plane, smiling as they walked across the tarmac to be greeted with bouquets of flowers.

Something just stinks about this whole thing!

Reminds me of Columbia!

They were taken to a military hospital for checkups, but doctors said none had been hurt. The ordeal began Sept. 19 during a safari on the Gilf al-Kabir, a desert plateau renowned for prehistoric cave art in a remote corner of southwestern Egypt, near the Libyan and Sudanese borders. While the group was camping, heavily armed gunmen in SUVs seized them and took them across the unguarded border into Sudan.

The abduction - the first involving tourists in Egypt - was an embarrassment to the Egyptian government, which depends on tourism as the country's biggest foreign currency earner.

And CUI BONO, Israel?

The kidnappers, who officials said were Sudanese and Chadian tribesmen, reportedly demanded up to $15 million in ransom and were negotiating with German officials by satellite phone. At the same time, Egyptian and Sudanese troops working with German and Italian intelligence experts combed the desert looking for them.

On Sunday night, Sudanese troops encountered eight of the kidnappers, apparently sent to get fuel and food. In a gun battle, six of the kidnappers were killed and two were captured, Egyptian and Sudanese officials said.

????? You guys had to KILL THEM so they WOULDN'T TALK, right?

If they ever existed at all, that is!!!

The two kidnappers told authorities the remainder of the gunmen and their captives were holed up in Tabat Shajara in Chad, just across the border with Sudan, some 250 miles southwest of the Gilf al-Kebir, an Egyptian security official said, speaking on condition of anonymity. --more--"

CIA Steerage of War Loot

"Ex-CIA officer says he steered contracts

The CIA's former executive director, the agency's third-ranking position, pleaded guilty yesterday to steering agency contracts to a defense contractor and concealing their relationship, making Kyle "Dusty" Foggo the highest-ranking member of a federal intelligence or law enforcement agency to be convicted of a crime, officials said. Prosecutors agreed to recommend on a sentence of no more than 37 months (Boston Globe)."

That's all?

I think we should start hanging the looters.

After a couple of them swing, watch the rest straighten right out -- or else!

Sweeping Up Californian Illegals

Strange how this is a brief when the pro-illegal, pro-NAU, pro-globalist Boston Globe celebrates illegals with a full piece.

"Immigration sweep brings 1,150 arrests

SANTA ANA - Federal immigration authorities say more than 1,150 people have been arrested in a special three-week sweep in California. The sweep targeted those who ignored deportation orders or returned to the United States illegally after being deported (AP)."

Second and Third Foreclosure Fatalities

See: First Foreclosure Fatality

Where were THEIR BAILOUTS, America?!!

"Web page portends death of couple" by John R. Ellement and Milton J. Valencia, Globe Staff | September 30, 2008

Burdened by debt and facing eviction, a self-employed Boston computer consultant killed his wife and then shot himself Sunday night - but not before leaving a chilling posting on his Internet website announcing their deaths, according to the posting, Boston police, and court records.

Christian Mogensen, 61, was inside the couple's 20th-floor apartment in Charles River Park when he shot and killed his wife of almost 12 years, 60-year-old Sharon Glassman, with a single gunshot around 9:30 p.m., authorities said. He shot himself a short time afterward, police said.

Watch the MSM turn this into a gun-control issue!!!!

According to a law enforcement source briefed on the investigation, Mogensen apparently became despondent over mounting financial problems. Investigators were trying to determine whether the shooting deaths were a joint decision or whether Mogensen acted on his own.

Mogensen owed about $28,500 in consumer debt, according to records at Boston Municipal Court, dating to 1994 in two separate loan packages. A more pressing financial problem was back rent. The couple owed $6,100 in rent and their landlord, Equity Properties of Chicago, had obtained an eviction order from Boston Housing Court, records show.

Mogensen was a computer industry consultant who ran his business out of the couple's apartment since 2001. Before that, Mogensen worked for a variety of high-tech companies in the Boston area, according to the resume he posted on his website. --more--"

He could be ME or YOU, readers!!!!

Boston Super Gets Praise Not Raise

Let me be the first one to thank her for DOING the RIGHT THING by TAXPAYERS!!!!

"Boston schools chief gets praise, no bonus" by James Vaznis, Globe Staff | September 30, 2008

The Boston School Committee has given Superintendent Carol R. Johnson rave reviews for her first year on the job, but she will not receive a dime more in pay.

Citing tough economic times, the School Committee has decided not to give her a bonus, which under the terms of her five-year contract could have been as much as $20,000 for a job well done. For that same reason, Johnson has decided not to take a contractually guaranteed pay increase, which would have boosted her $275,000 annual salary by 2.5 percent or $6,875. Other senior school administrators also will not have pay increases this year. --more--"

That is AS IT SHOULD BE; isn't 275k a year enough?!!

And for those who think I am being cruel and unfair, get the $$$ someplace else:

Of course, "flushing . . . millions of dollars away supporting a highly profitable industry" when it comes to $300 million in taxpayer dollars for Hollywood is o.k., even as the price of a school lunch rises; paying $13 million for a computer software system that could have cost less than $3 million is all right because the winner was a close friend of the House speaker, even as my poorer-than-dirt district "has been struggling to close a $2 million budget gap."; the lottery shellling out "millions of dollars" for sports tickets for "lottery officials, their family members, and friends" is fine, even as schools are closing; making interest payments to banks to the tune of "a staggering $22 billion" for the Big Pit, as we call it around here, is required, even as bridges are neglected across the state; and again, paying off banks like UBS, who can "demand repayment of an additional $2 million a month beginning in January" while also receiving a "$179 million payment," while the state pension fund loses $1 billion dollars -- which still didn't stop the executive director from carving himself a nice "$64,000 bonus on top of his $322,000 annual salary."

Oh, and did I not mention the $1 BILLION dollar giveaway to the pharmaceutical corporations, even though "it's never been easy to turn a profit in biotech?" Flush that money away, too, taxpayer. Of course, the war looters were next in line for a handout. And should the state be appropriating money for a "multimillion-dollar reconstruction" of golf courses?

Crabby Protesters

Hey, it worked.

Maybe that is a lesson for the AmeriKan people: GET UGLY!

"Protesters win fight over crabapple tree

Two women who tied themselves to a crabapple tree to protest its removal have rescued the tree and evaded eviction. Lee Perrone, 74, and Pat Henry, 65, protested on several days at their elderly housing complex, after the Housing Authority decided to cut down the tree to relocate a trash bin. Afterward, they received eviction notices. But yesterday, Christopher Uhl, the lawyer for Perrone, Henry, and a third woman threatened with eviction, said the housing authority agreed not to evict the women and the tree will not be removed (AP)."

Of course, the MSM won't cover these protests, but THEY WORKED, too!!!!!

The Other Bailout Bill You Haven't Heard Of

That's how they do things down there in D.C.' look that way, public -- as they pick your pocket!!!!

"House Democrats say they won't back down on tax package; Dispute imperils vote on policy" by Jim Abrams, Associated Press | September 30, 2008

WASHINGTON - With the legislative clock ticking down, House Democrats said yesterday they would not relent in their dispute with the Senate on a major tax relief package, increasing odds that businesses could lose out on critical tax breaks and millions could get hit by the alternative minimum tax this year.

And all I got was a $600 bribe, er, "rebate."

House majority leader Steny Hoyer, Democrat of Maryland, suggested it might be next year before consensus can be reached on a tax initiative that includes adjusting the alternative minimum tax, providing tax relief to disaster victims, and extending tax credits for renewable energy development, business investment, and individual education and child care costs.

The House had intended to adjourn for the year yesterday. But that plan changed when lawmakers rejected the $700 billion financial bailout legislation, forcing congressional and administrative leaders to regroup. The House now plans to reconvene Thursday, perhaps giving lawmakers another shot at the tax bill.

And the BAILOUT BILL, too, if the Senate has its way over the wishes of the American people.

Lawmakers in both chambers stressed that the tax relief bill would create tens of thousands of jobs and contribute to the nation's energy independence.

Ever notice that rapists always make the same promises?

But House Democrats insisted that more of the package, totaling $138 billion in House bills, be paid for so as not to increase the deficit. Senate Republicans said any changes in the Senate-passed tax bill would kill the package.

The House "has taken the morally and fiscally responsible position," said Representative Mike Ross, Democrat of Arkansas, a leader of the 49-member Blue Dogs, a group of fiscally conservative Democrats. As Ross spoke, Senate majority leader Harry Reid, Democrat of Nevada, tried to bring up a House-passed bill dealing with renewable energy and extension of business and individual tax breaks that expired last year or will lapse at the end of this year. Republicans objected to consideration of the bill.

Reid acknowledged that "we can't get it done" because Senate Democrats don't have the votes to move the bill without GOP cooperation.

One then wonders how REPUBLICANS MOVED ANYTHING when they where in charge!!

WHERE WERE YOU, Reid and fellow DemocraPs? How come YOU did not BLOCK anything?!!!!

HANH?!!!!!!!!!!!!!!!!!

The Senate still plans to meet later this week and could take up the House-passed fix to the alternative minimum tax separately. --more--"

And also try to FORCE THROUGH BAILOUT BILL number 2 -- which is what it will be!!!!

Stock Market Scare Tactics

America, please understand that the BANKS are DOING THIS ON PURPOSE to PRESSURE the Congress to GIVE THEM the TAXPAYERS MONEY!!!!

"Even before the House voted, credit markets had continued to tighten and by midday many had virtually stopped trading, creating further problems.... Big declines like these often get stock mutual fund managers looking for buying opportunities....

The availability of credit to businesses, from short-term loans to corporate bonds, came under intense pressure or dried up entirely yesterday. For example, after normal trading yesterday morning, corporate bonds - debts issued by companies -stopped trading for a period when the failure of the bailout plan became clear."

Seriously, WHERE have all the BILLIONS in LIQUIDITY BAILOUTS this summer go? Banks KEPT IT ALL, didn't they?! And NOW they want MORE!!!!!

Also see: Economists Say Bailout Bill Won't Work

"Market takes a record plunge" by Steven Syre, Globe Staff | September 30, 2008

This is the same writer who wrote: The "No-Bailout" Bailout

Where is that salt shaker, readers?

The Dow Jones industrial average suffered its worst one-day point decline in history as investors ran for safety after Congress failed to pass a bailout for the nation's beleaguered financial industry.

The sheer size and scope of losses in the major stock markets left many investors stunned. The Standard & Poor's 500 index lost 8.4 percent of its value, the most in more than 20 years. The entire stock market lost more than $1 trillion of value just yesterday.

The Dow, an index of 30 of the nation's top industrial companies, gyrated wildly in the 40 minutes that voting in the House of Representatives on the bailout bill was being broadcast on television.

Yeah, THAT has always bothered me: The "health" of the "market" is based upon the 30 RICHEST COMPANIES? Talk about a SKEWED MEASUREMENT!!!!

The bailout defeat reverberated around the world, with stock markets in other regions recording major losses; Brazil's stock exchange was forced to shut down in the afternoon after losses exceeded 10 percent.

The carnage spread to Asia today. All major stock markets in the region tumbled sharply, succumbing to heightened fears of a broader global credit crisis. Japan's benchmark Nikkei 225 index shed more than 544 points, or 4.6 percent, to 11,199.07 after losing 1.3 percent yesterday. Key indexes in Australia and New Zealand were both down about 4 percent, Seoul's Kospi lost 3.5 percent, and Hong Kong's Hang Seng index declined 5.5 percent.

Even before the House voted, credit markets had continued to tighten and by midday many had virtually stopped trading, creating further problems for many companies that want to borrow money. Meanwhile prices for commodities, including oil, plunged on fears that a broader, deeper economic recession would reduce demand.

Big declines like these often get stock mutual fund managers looking for buying opportunities. The rout was not limited to financial stocks. Oil companies, manufacturers, and even high-fliers like Apple Inc. and Google Inc. all took a pounding yesterday.

The availability of credit to businesses, from short-term loans to corporate bonds, came under intense pressure or dried up entirely yesterday. For example, after normal trading yesterday morning, corporate bonds - debts issued by companies -stopped trading for a period when the failure of the bailout plan became clear.

"There was just this universal moan," Kathleen Gaffney, co-manager of the Loomis Sayles Bond Fund in Boston, said of the vote results. "I heard it all around the office and watched the stock market drop like a stone. Everyone was in disbelief and then the corporate [bond] market just stopped trading because no one knew how to price anything."

Meanwhile another barometer of economic sentiment among investors, the Reuters/Jefferies CRB index of commodity prices took its hardest fall since 1956. --more--"

Banks Squeeze States in Bailout Blackmail

"State treasury officials said the credit markets abruptly froze midday.... Timothy P. Cahill, the state's treasurer: "There have always been cash shortages, but you could always go to the market and get more. This is the first time we haven't been able to do that." Cahill said he believes the credit market will in effect remain shuttered today as the nation's largest lenders hold on to their cash"

This is in addition to the U.S. Banks Driving Credit Crunch ON PURPOSE!!

"Unknown terrain for economy" by Robert Gavin and Casey Ross, Globe Staff | September 30, 2008

In an example of how fragile credit markets have become, the state of Massachusetts yesterday tried to borrow $400 million to make its routine quarterly local aid payments to cities and towns.

WTF are we doing BORROWING to meet AID PAYMENTS? WTF, readers?

Please read: Mass. Economy at the Mercy of Wall Street as it Borrows Itself Into Oblivion

Of course, "flushing . . . millions of dollars away supporting a highly profitable industry" when it comes to $300 million in taxpayer dollars for Hollywood is o.k., even as the price of a school lunch rises; paying $13 million for a computer software system that could have cost less than $3 million is all right because the winner was a close friend of the House speaker, even as my poorer-than-dirt district "has been struggling to close a $2 million budget gap."; the lottery shellling out "millions of dollars" for sports tickets for "lottery officials, their family members, and friends" is fine, even as schools are closing; making interest payments to banks to the tune of "a staggering $22 billion" for the Big Pit, as we call it around here, is required, even as bridges are neglected across the state; and again, paying off banks like UBS, who can "demand repayment of an additional $2 million a month beginning in January" while also receiving a "$179 million payment," while the state pension fund loses $1 billion dollars -- which still didn't stop the executive director from carving himself a nice "$64,000 bonus on top of his $322,000 annual salary."

Oh, and did I not mention the $1 BILLION dollar giveaway to the pharmaceutical corporations, even though "it's never been easy to turn a profit in biotech?" Flush that money away, too, taxpayer. Of course, the war looters were next in line for a handout. And should the state be appropriating money for a "multimillion-dollar reconstruction" of golf courses?

State treasury officials said the credit markets abruptly froze midday, leaving them $170 million short. The state will have to use its own funds to complete the local aid payments, draining the state's balance to extremely low levels.

"I don't think any treasurer alive could say they've ever seen anything like this," said Timothy P. Cahill, the state's treasurer. "There have always been cash shortages, but you could always go to the market and get more. This is the first time we haven't been able to do that."

Cahill said he believes the credit market will in effect remain shuttered today as the nation's largest lenders hold on to their cash amid uncertainty over plans for a federal bailout. In short, the House's rejection of a $700 billion Wall Street bailout plan takes Massachusetts and the rest of the US economy into territory that few policy makers and analysts wanted to explore.

It tests the forecasts of Federal Reserve chairman Ben Bernanke and Treasury Secretary Henry Paulson that failure to approve the plan will dry up credit markets, damage the financial system, and send the fragile US economy spiraling into a deep recession. The economy may yet muddle through, analysts said, but the risks of a catastrophic downturn have risen.

Because the BANKS are HOLDING BACK!!!! This DESTRUCTION of the U.S. ECONOMY is being done ON PURPOSE, folks!!!!

Eugene White, economics professor at Rutgers University, said the collapse of the financial system and the subsequent drying up of credit created such a spiral in the early 1930s, turning the economic downturn into the Great Depression. He said the House's failure to act could be compared to the Fed of that period, which largely stood on the sidelines during a wave of bank failures. "We need government to come in and take decisive action," White said.

The AGENDA-PUSHING NEVER ENDS!!!

The situation, however, is nowhere near as bad as in the 1930s, in large part because the Federal Reserve today has acted aggressively, analysts said.

Then WTF is with the RHETORIC?!!!!

The Fed has cut interest rates by more than 3 percentage points in a little more than a year, and, working with other central banks, pumped hundreds of billions of dollars into credit markets to keep the global financial system operating. Yesterday, the Fed and foreign central banks acted to pump hundreds of billions more into the financial system.

Yeah, about 600 BILLION!

And WHERE is that MONEY GOING? WHERE is the CREDIT? Banks are just HOLDING the BILLIONS with their TIGHT FISTS, huh? America, do the LIES EVER STOP?!!!

The rejection of the bailout package leaves the Fed on its own, analysts said. After rushing to prevent the collapse of firms such as AIG and Freddie and Fannie, and combating panic across global markets, Fed officials and the Bush administration sought the bailout as a comprehensive approach to shore up the financial system.

William Niskanen, an economist at Cato Institute, a libertarian think tank in Washington, said a case-by-case approach would be best. He said some large financial institutions might yet fail, but ultimately the economy needs to work out the excesses of the housing and credit bubbles without massive government intervention.

Also see: Economists Say Bailout Bill Won't Work

The Fed, however, can still help the economy avoid a deep downturn by aggressively cutting interest rates, said Brian Bethune, an economist at Global Insight, a Waltham forecasting firm. Lower interest rates encourage businesses and consumers to borrow and spend, which boosts economic activity.

Even though that will DESTROY the DOLLAR!!! Damned if you do, damned if you don't, America, that is your economic system. And these guys want authority to "fix" the problems?

Bethune said the Fed needs to cut its key interest rate, which now stands at a historically low 2 percent, by half or three-quarters of a percentage point. It could provide an additional boost by coordinating its rate cuts with foreign central banks.

"This puts the onus on the Fed," Bethune said. "The game isn't over, but it's halftime and we're down three touchdowns." --more--"

It is NOT a GAME, dammit!!!

Besides, I thought the Feds had done better than in '33? WTF is with the LYING in the SAME ARTICLE, agenda-pushers?

Republican Leadership Right Back at Bailout Bill

Readers, What Part of "NO!" Does the U.S. Congress Not Understand?

"House minority whip Roy Blunt, a Missouri Republican, said that despite the setback, he would try to persuade members of his party to vote for a new version of the bill"

"Crashing down; Bailout rejected; new bill vowed" by Bryan Bender and Michael Kranish, Globe Staff | September 30, 2008

WASHINGTON - President Bush and congressional leaders, stunned by the defeat of a $700 billion Wall Street bailout plan yesterday, vowed to quickly craft a new proposal to win over skeptical lawmakers before the worst financial crisis in generations deteriorates into a widespread economic meltdown.

The stinging rejection of Bush's plan by the House of Representatives - by just 23 votes - sent the stock market into a nosedive of historic proportions. It also injected uncertainty into whether the Senate will take up the measure as expected tomorrow, or whether any bill can garner enough public support and calm a jittery market.

Except the Dow UP TRIPLE DIGITS!!!

Yup, DIDN'T GET OUR MONEY and now it is BACK to BUSINESS, huh?

The SKY DIDN'T FALL DOWN?!!!!

Sigh!

In the meantime, Wachovia Corp., one of the nation's largest banks, yesterday joined a growing list of leading financial institutions whose bad-mortgage-related debt has led them to the brink of collapse. In a deal facilitated by the Federal Deposit Insurance Corp., Citigroup will absorb as much as $42 billion in Wachovia losses, while the FDIC will cover the rest.

I wouldn't put too much "stock" -- if you will -- in the bankrupt FDIC, folks!

"The fund, which stood at $45.2 billion at the end of June, has been severely depleted."

Just what the looters want you to believe to keep the $$$ in their hands, not yours.

95 Democrats - including John Tierney, Stephen Lynch, and William Delahunt of Massachusetts - also voted no out of concern the plan would do nothing to help average Americans who have lost their homes in record numbers but were being asked to help foot the bill to save Wall Street firms.

Representative Henry Cuellar, a Texas Democrat, said the bill was too focused on helping Wall Street: "This puts the burden of all this on the taxpayers."

Wall Street reeled from the growing opposition to the bill, plunging as the votes were tallied. By the end of the day, the market posted its worst one-day percentage drop in more than a decade, while the Dow Jones Industrial average plunged nearly 800 points, the largest single point drop in American history.

House minority whip Roy Blunt, a Missouri Republican, said that despite the setback, he would try to persuade members of his party to vote for a new version of the bill: "We're going to be talking to our members and see how we can come together in the next few days to reverse whatever negative impact there may be in the economy over the next few days because Congress has failed to act."

These fucking guys are acting like a bunch of date rapists.

--more--"

U.S. Consumers Killed Credit Markets

And -- surprise, surprise -- the GOVERNMENT LIED!!!

"Spending remains level in August; Consumers' activity may be weakest since '91" by Bloomberg News | September 30, 2008

WASHINGTON - Spending by US consumers was unchanged in August, confounding forecasts of a gain, as households retrenched in the face of rising unemployment and slumping confidence.

No change followed a 0.1 percent rise in July that was smaller than previously estimated, the Commerce Department said yesterday in Washington.

I told you, readers! They REVISE (read: LIE) all the time!!!!

Consumer spending is faltering as the boost from tax rebates fades and Americans grapple with mounting job losses, declining home-equity wealth, and a credit squeeze that has turned into a financial meltdown.

Tax rebates? That was SO YESTERDAY, MSM!!!!

As for that "credit squeeze": U.S. Banks Driving Credit Crunch ON PURPOSE!!

"There're not a whole lot of positives out there," Daniel North, chief economist at Euler Hermes ACI in Owings Mills, Md., said. Even "without all this bailout talk," the economy seems "pretty weak."

Please read: Economists Say Bailout Bill Won't Work

Economists forecast spending would rise 0.2 percent, after an originally reported 0.2 percent increase in July.

Why should we listen to those liars?

The report also showed inflation is eroding Americans' purchasing power.

NO SHIT!

The central bankers' preferred gauge of prices, which excludes food and fuel. --more--"

Just ONE MORE SKEWED STATISTIC from the LYING GOVERNMENT!

Obama Says Bailout Bill Will Pass

Sigh! Why even bother voting?

"As bailout bombs, camps' rhetoric turns combative; Obama urges calm, McCain lashes out" by Lisa Wangsness, Globe Staff | September 30, 2008

WASHINGTON - Barack Obama urged voters and the markets to "stay calm," saying congressional disputes were a normal part of the process and that he was "confident" lawmakers would agree on a deal. "Things are never smooth in Congress," he told 3,000 people at Mountain Range High School in Westminster, Colo. "Understand that it will get done, that we are going to make sure that an emergency package is put together, because it is required for us to stabilize the market."

Looking more and more like third-party come Nov. 4!

McCain must determine whether he will suspend his campaign again, weighing the political benefits of being consistent and trying to exhibit leadership against the potential pitfalls of adding to the partisan rancor and linking himself to possible failure.

Oh no! This guy FLIPS more than a PANCAKE!!!!

Obama, who followed McCain reluctantly to Washington last week, seems content to stay away from the negotiations, even as he continues to seek political advantage by focusing on the economy on the stump. --more--"

Just wanted you to get your daily dose of pro-McCain propaganda from the BG, readers!

Three Brave Bay Staters

For BUCKING the FASCIST LEADERSHIP of PELOSI and doing the RIGHT THING!!!!!!

"3 from Bay State reject a rescue" by Bryan Bender and Michael Kranish, Globe Staff | September 30, 2008

WASHINGTON - Three of the 10 members of the Massachusetts delegation voted against the financial bailout package yesterday, rejecting the advice of party leaders and their fellow Bay State congressman, Financial Services Committee chairman Barney Frank.

Stephen Lynch of Boston, William Delahunt of Quincy, and John Tierney of Salem were among 95 Democrats voting against the $700 billion bill, which was defeated by a margin of 228 to 205.

They portrayed their opposition largely in class terms, saying that working Americans would have to foot much of the cost to save ailing Wall Street firms but get little help and few guarantees that their nest eggs would be protected.

"Wall Street and the folks most likely to benefit from this bailout were not asked to contribute anything," Lynch said in a telephone interview. "This was largely placed on the shoulders of the American taxpayer. It is not in the best interest of the people who I represent."

Delahunt, calling the package "inadequate," told the Globe he could not support a bill that did not require the financial industry to kick in some money and did not provide relief for the record number of homeowners facing foreclosures because of Wall Street's bad judgment. "If you analyzed who would directly benefit, it was not the victims, but those who have benefited from this economic bubble," he said.

Like others, Delahunt lauded the efforts of Frank, who played a leading role in gaining the minimum taxpayer protections, "but, in good conscience, I couldn't support this."

Someone in Washington D.C. has a conscience?

Several who supported the bill said they did so reluctantly.

TOO BAD! GET OUT!!!

Representative Niki Tsongas of Lowell....

Representative James McGovern of Worcester....

"Two issues convinced me to vote yes," McGovern added. "I believe doing nothing would be catastrophe, and I trust Barney Frank." Lynchheld out hope that his concerns can be resolved in negotiations. --more--"

I wouldn't trust Barney: Memory Hole: Barney and Business

Damn liberals!

Boston Globe Says Public Wants Bailout Bill

I'm tired of the Boston Globe's MISREPRESENTATIONS and BIASES in regard to, well, ANY ISSUE at this point!!!!

Because they DO IT on EVERY SINGLE ONE!!!!

Oh, and WHERE is YOUR BAILOUT BILL, average American?

Whadda ya mean there ain't one?

"Public angry, anxious" by Erin Ailworth and Robert Weisman, Globe Staff | September 30, 2008

Joel Miller of Boston summed up the anger and frustration of many Massachusetts residents yesterday as the $700 billion bank bailout plan unraveled amid political squabbling, sending stocks into a free-fall.

"Congress is acting like children," said Miller, an industrial real estate broker, as he walked out of a Bank of America branch on Boylston Street. "I don't have an easy answer now. But fighting back and forth and grandstanding isn't solving anything."

A few blocks away, John Chambers of Canton said it was "scary" to watch the bailout fall apart.

Scary? I found it EXHILARATING and a cause for CELEBRATION!! See what I mean about the BG agend-pushing, readers?

They put two PRO-GIVEAWAY guys up front when the MASS of AMERICA is OPPOSED to this LOOTING SCHEME!

Across the region yesterday, many people said they were following the events on Wall Street and Capitol Hill with mounting anxiety. Some cheered the House of Representatives' failure to pass the bank-rescue plan, while others called drastic government intervention a necessary evil.

Of course, the Globe doesn't like to talk to those people!

But most agreed that the economic crisis came about because of rampant Wall Street excess. And there was little sympathy for those at the helm of the financial shipwreck.

Why should there be? Do you show sympathy for an anal rapist?

"I know one thing for sure," Victor Thomas of Boston said. "These guys on Wall Street aren't our friends."

Nope, they sure aren't!!!!

While regulators and bank officials across Massachusetts reported no unusual activity or high levels of withdrawals yesterday, many customers were seeking reassurance from bankers or financial advisers.

Yeah, I noticed the sky was still standing when I woke up this morning.

For many individual investors, the biggest question was how the worsening financial turbulence would affect their retirement savings. Others said they are concerned about keeping their jobs.

Yeah, toss out the FEAR, Globe! Thanx a lot!

Jeannie MacDonald, a former Boston bank employee, said, "I don't want to invest in the bailout. Our taxes are too high as it is. Food is too expensive. It's too much for the average working person."

But some tried to take a longer view amid the chaotic conditions - the market will eventually sort itself out, hit bottom and then rebound, they said.

"There has to be some pain and the market has to flush out all the weakness," said Miller, the Boston real estate broker. "But I still get up in the morning, I have my coffee and yogurt, and the real world doesn't look any different. And I haven't been hit yet by anybody jumping out of the Hancock building." --more--"

You mean, the world went on and the sky was still up above? You're kidding?!

After BUSH WARNED us of the PERIL?

Don't tell me that CRAP-MOUTH LIED AGAIN?!!!!

Update: Dow UP TRIPLE DIGITS!!!

Nimby, Massachusetts

It's what is known as the YANKEE CHARM, which can be summed up with "can't get there from here."

Oh, how I envy the south and their hospitality at times!!!!

For a comparison of Mass. neighborhoods, see: Boston's New Ivory Tower

"Affordable housing gets cool reception on Vineyard; Residents agree it's essential, but worry about land values" by Kimberly Blanton, Globe Staff | September 30, 2008

EDGARTOWN - Islanders were outraged when a wealthy summer resident clear cut land last year next to an affordable housing development so he could land his helicopter.

But another fight brewing on Martha's Vineyard is not about the excesses of the rich in their summer houses. This one pits year-round residents against one another.

On one side is Bill Bennett, a Vineyard electronics contractor, who raised $1 million to buy land on the island's southern edge to build 11 houses costing $350,000 each - about half the island's median house price - so his employees and family can afford their first homes. Opposing the project, Cozy Hearth, are its neighbors whose understanding of how badly the Vineyard needs affordable housing to retain the island's working class is as keen as their desire to protect their privacy and property values.

"I was a working guy. I know we need workers," said Geoffrey Patterson, a building contractor who said he stretched financially in 1994 to buy his property, which is adjacent to Bennett's proposed project. "I don't want 11 houses in my backyard - I don't care if it's Jay Leno."

Fights over affordable housing on the Vineyard are different from disputes in other places, where such projects can improve blighted neighborhoods. On the island, where land costs start at $500,000 an acre, opponents often object because such projects can bring down property values.

For more on their distasteful food fight, go --here--"

Massachusetts Had RECORD HOME LOANS Last Year

But we are in the midst of a credit freeze? Come on!

Coincidence that this report is a BRIEF, readers?

"MassHousing makes a record $466.4m in loans

MassHousing, the Commonwealth's housing bank, said it made a record $466.4 million in affordable home loans last year, topping the previous record of $425.2 million, set in 2007. The agency's executive director, Thomas Gleason, called the volume of new loans remarkable, especially given the "unprecedented turmoil in the mortgage industry." Last year, MassHousing, which makes low-interest loans to middle- and working-class people, said that $30.6 million in loans were refinancings of adjustable-rate or subprime loans. But most of the loans made last year, worth $428.6 million, were for first-time buyers (Boston Globe)."

How does the AmeriKan MSM lie?

Let me count the ways.....

(I know a kid who just got a loan for a home buy this week, too! Lived just down the street)

No Sovereignty For Sovereign

However, this is the kind of occupation you could live with, Americans!

"Sovereign also stands to benefit if congressional leaders revive a section of the failed bailout proposal aimed at banks. That provision would have given Sovereign and other banks that are holding near-worthless preferred stock of fallen mortgage lenders Fannie Mae and Freddie Mac a tax write-off."

Where is YOUR BAILOUT and WRITE-OFF, Americans?!!!!!!!

"For banks, it's survival of the fittest; Swept up in broader sell-off, Sovereign loses 72% of value" by Ross Kerber, Globe Staff | September 30, 2008

In a bruising day on Wall Street, Sovereign Bancorp was singled out for a beating.

Shares in the third-largest bank in Massachusetts fell 72 percent - a striking loss even on a day when the market as a whole fell sharply after the US House rejected an emergency bailout package for the nation's troubled financial sector. The stock closed at $2.33, down $6.04.

Sovereign was swept up in broad sell-off of midsize banks. Investors feared the credit problems that had forced the sale of Wachovia's banking operations would spread to other institutions, including the Ohio banks Fifth Third Bancorp, down 44 percent, and National City Corp., down 63 percent.

"Sovereign is assumed to be one of the weaklings as the market looks around for who might be next," said Gary Townsend, a hedge-fund manager in Chevy Chase, Md., specializing in bank stocks. He said he has not owned shares of the bank.

Sovereign did not disclose any negative news that would have caused its shares to drop so much.

"We're not aware of anything specific to Sovereign's business that would justify this volatility in our stock," spokesman Andrew Gully said yesterday. The bank is "well-capitalized and fundamentally sound."

This guy's name McCain?

Analysts who follow the bank, as well as one of its large investors, said Sovereign may have suffered from a ricochet effect due to other banks' troubles. Two of Sovereign's largest stockholders were European institutions that lost large stakes in Washington Mutual, which failed last week, and in Wachovia, whose stock lost more than 80 percent of its value yesterday after regulators oversaw the sale of its banking assets to Citigroup Inc.

Read: European Banks to Follow Bush Blueprint for Bailout

These European investors subsequently sold Sovereign shares to avoid the risk of another loss, said the investor, who declined to be identified by name because of the sensitivity of the situation. That sparked a rush by other holders to unload their shares, too. "It was a cascade," the Sovereign investor said.

He identified the two investors as Norway's Norges Bank and London's Toscafund Asset Management, both of which held 5 percent of Sovereign as of July. Neither European firm could be reached for comment.

The Wall Street Journal reported last night that Sovereign's board plans a vote today to replace chief executive Joseph Campanelli with Paul Perrault, a former chief executive of Chittenden Corp., citing unidentified sources. Board members including P. Michael Ehlerman, Sovereign's nonexecutive chairman, wouldn't comment last night.

Sovereign, based near Philadelphia, expanded to Massachusetts largely by buying branches that BankBoston was forced to sell as a condition of its 1999 merger with Fleet Bank. Sovereign ranked third in Massachusetts, with $13 billion in deposits and 231 branches here, according to 2007 federal data.

Sovereign has moved recently to bolster its finances, first by raising $1.9 billion through a pair of stock offerings in May. Then, two weeks ago the bank said it unloaded a portfolio of troubled securities. While it incurred a loss of $254 million on the sale, Sovereign removed the uncertainty that the securities could be worth even less in the future.

Moreover, Sovereign also stands to benefit if congressional leaders revive a section of the failed bailout proposal aimed at banks. That provision would have given Sovereign and other banks that are holding near-worthless preferred stock of fallen mortgage lenders Fannie Mae and Freddie Mac a tax write-off. Sovereign had previously said it would take a charge for its $623 million holdings of those shares.

Bob Hughes, banking analyst at Keefe, Bruyette & Woods, ascribed Sovereign's plunge to "collateral damage" it suffered from other losses cutting through the banking sector. He added that Sovereign's capital position is relatively strong, and that the bank has only $200 million in debt coming due in the near term.

It is OFFENSIVE to use THAT TERM when describing MONEY!!!

When you say "collateral damage" be sure you mean PEOPLE MURDERED because of GEORGE W. BUSH'S LIES, 'kay?!!!

Yesterday's market plunge also hit other large publicly traded banks with operations in Massachusetts, including Bank of America and Citizens Bank's parent, Royal Bank of Scotland. --more--"

The whole damn thing is a house of cards!!!!

LET IT FALL!!!!!!