Is there nothing that Obama can’t do?
The White House Friday highlighted a new multi-million-dollar technology fund for Muslim nations, following a pledge made by President Barack Obama in his landmark speech to the Islamic world.
The White House said the US Overseas Private Investment Corporation (OPIC) had issued a call for proposals for the fund, which will provide financing of between 25 and 150 million dollars for selected projects and funds.
The Global Technology and Innovation Fund will “catalyze and facilitate private sector investments” throughout Asia, the Middle East and Africa, the White House said in a statement.
(via Drudge)
And what would we do without “news” media?
I did the same search on “Global Technology and Innovation Fund”, and pulled up the same two results. It’s almost as though they don’t want people to know about it.
I hate to admit that I agree with Sarge here. Instead of sucking off the Saudi King, (How did Bush know when Laura had here time of month? Cheney’s crank tasted funny…) Obama just serves his economic interests with our whole foreign policy.
Let’s see, we can increase our dependence on Saudi Oil quickest and cheapest, which the King would prefer to a blow job any day?
Well, we could declare Canada’s Oil off limits because it is “too dirty”.
We could prevent drilling our own oil in the Arctic, off California, and the Gulf of Mexico because the areas are “too sensitive”
We could outlaw our own coal reserves, which, if used, would make us the Saudi Arabia of coal.
We could prevent development of our own oil shale, which would make us the Saudi Arabia of oil.
We could suppress nuclear power, just to rub the conservative’s nose in the fact that we don’t really give a crap about climate.
If Bush had to kiss the Saudi’s ass, it’s because Sarge’s left wing buddies tied his hands.
tim nails it !!
KevinB, you’re ignorant.
First of all, the FDIC has already PROVISIONED funds for expected losses through the end of this year and part of next year. So even though proper accrual accounting puts the DIF in the red, the FDIC is NOT BROKE.
The LAST thing Sheila Bair will do is tap the credit line of the Treasury. Losses will NOT reach up to $500 billion and Congress can vote to extend the debt ceiling. Sheila Bair specifically said she expects not to draw on that credit line and pre-paid assessments (from banks) will be more than enough to cover expected losses. Her point about the Treasury was that if the DIF runs out of money, no one has to fear their deposits will not be insured.
GCM, you’re also ignorant.
The FDIC can only choose to close the banks it regulates ITSELF. The other banking regulators must decide when it’s time to close their own regulated financial institutions. When THEY decide to close the bank, they appoint the FDIC as the receiver.
Many of the largest bank failures/losses came from non-FDIC regulated institutions. The OTS is the chief source of failure in examinations.
Banks are not usually “shut down”. Their assets, liabilities, and operations are usually sold to a buyer who continues to operate branches with no visible difference to depositors.
Closings usually involve loss-sharing agreements where the buyer assumes the first share of losses from the acquired institution, and the FDIC only if losses exceed that limit.
Loss ratios are often high because of bank FRAUD. The FDIC and other bank regulators don’t possess a magic crystal ball to find any and all misrepresentations by banks. You simply don’t understand the size and scope of a bank examination. You think regulators are all-knowing, all-seeing, and all-powerful. They are not and you don’t want them to be.
Did anyone else notice, that everytime she had a negative statement, ” I would like to take this opportunity to reassure consumers ( shaking her head for the no) that their insured deposits are absolutely safe.( 0:21)”
Now, was she shaking her head to no risk, or shaking her head to no safety? Anyone want to hazard a guess?
What is most interesting is that certain people here are busy are arguing about the “colour of the drapes” when the friggin house is on fire….