Ron Paul Reacts to Obamas Change

YouTube
October 7, 2008

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Lehman Execs Took Millions Before Collapse

David Gardner
Mail Online
October 7, 2008

The disgraced head of the giant investment bank whose collapse set off a panic which led to the US economic rescue package took home more than £172 million since 2000, he told the U.S. Congress.

Richard S Fuld Jr, chief executive officer of Lehman Brothers, ignored a warning that the banks liquidity can disappear quite fast and dismissed suggestions that staff may not get their bonuses.

Days from becoming the largest bankruptcy in U.S. history, Lehman Brothers steered millions to departing executives even while pleading for a federal rescue, Congress heard.

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Delta Force officer: US officials stopped plans to kill bin Laden

David Edwards and Muriel Kane
Raw Story
October 7, 2008

After September 11, 2001, a team of elite Delta Force commandos was sent into Afghanistan with an assignment to find and kill Osama bin Laden at Tora Bora — but that mission failed.

The commander of the Delta Force team has now written a book which tells what he says is the true story of what went wrong. He appeared anonymously on CBSs 60 Minutes on Sunday to summarize that story.

Read more...

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Secret Bush Administration Plan to Suspend US Constitution

Tom Burghardt
Antifascist Calling
October 7, 2008

Ten months before the September 11, 2001 terrorist attacks, Secretary of Defense Donald Rumsfeld approved an updated version of the U.S. Armys secret operational Continuity of Government (COG) plans.

A draft document published by the whistleblowing website Wikileaks entitled, "Army Regulation 500-3, Emergency Employment of Army and Other Resources. Army Continuity of Operations (COOP) Program," dated 19 January 2001, spells out changes in Army doctrine.

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The Fed said it will lend against a special purpose vehicle at the targeted federal funds rate. The unit will purchase from eligible issuers three-month dollar-denominated commercial paper at a spread over the three-month overnight-indexed swap rate, according to a press release in Washington today.

The Fed said the paper purchased by the vehicle must be rated at least A1/P1/F1. Issuers will pay the unit an upfront fee based on the commercial paper initially sold to the vehicle. The vehicle will cease buying commercial paper on April 30, 2009, unless the Board of Governors agrees to extend it.

The Fed yesterday said it will double its cash auctions to banks to as much as $900 billion, and telegraphed today's announcement by saying it was looking for other ways to alleviate liquidity strains.

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(Part 2)

EMERGENCY POWERS ENACTED TODAY

Posted October 7th, 2008 by NCMarc

This is something big here...not sure what to make of it yet

Fed to Purchase U.S. Commercial Paper to Ease Credit Crunch
By Craig Torres

Oct. 7 (Bloomberg) -- The Federal Reserve Board, invoking emergency powers, will create a special fund to backstop the U.S. commercial paper market in an effort to support the financing needs of corporations.

The move comes as the credit freeze spreads to the market for short-term debt that hundreds of companies use to finance payrolls and meet other cash needs.

(Part 1)

America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.
Abraham Lincoln

3 in 5 voters: Boot every congressman - Rasmussen poll

Posted October 6th, 2008 by sempiternal

If given the choice, a new poll reveals, 59 percent of Americans would sweep Capitol Hill clean of the current batch of senators and representatives to elect an entirely new Congress.

Only 17 percent of voters polled said they would be willing to keep the current legislature.

Rasmussen Reports conducted the national telephone survey on the heels of Congress passing a widely unpopular financial bailout bill, revealing a significant amount of voter dissatisfaction with the nation's current lawmakers.

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"There is no nonsense so errant that it cannot be made the creed of the vast majority by adequate governmental action."
-- Bertrand Russell

The best candidates special interest money can buy or "Who Owns Whom?"

Top 10 Corporate PAC Contributors:

Obama:

Goldman Sachs $739,521
UBS AG $419,550
Lehman Brothers $391,774
Citigroup Inc $492,548
Morgan Stanley $341,380
Latham & Watkins $328,879
Google Inc $487,355
JPMorgan Chase & Co $475,112
Sidley Austin LLP $370,916
Skadden, Arps et al $360,409

McCain:

Merrill Lynch $349,170
Citigroup Inc $287,801
Morgan Stanley $249,377
Wachovia Corp $147,456
Goldman Sachs $220,045
Lehman Brothers $115,707
Bear Stearns $108,000
JPMorgan Chase & Co $206,392
Bank of America $133,975
Credit Suisse Group $175,503

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