Good evening ladies and gentlemen, welcome to SDA Late Nite Radio. Tonight, for your delectation and pursuant to our Tuesday night vintage music show and a mail-in request from listener Jimbo, here are Jelly Roll Morton and his Red Hot Peppers performing The Chant (1926, 3:14).
Your Reader Tips are, as always, welcome in the comments.
Posted by Vitruvius at November 12, 2008 12:01 AMArguably the greatest trad jazz band ever. Thanks Vitruvius.
Posted by: Jimbo at November 11, 2008 11:51 PM
Rebuilding
One of the grand mysteries of faith -- of human life -- is the irrevocable act. We do things that can never be undone. We make decisions that, in the clearer light of retrospect, should never have been made. But they were made, and acted upon, and the consequences are now out of our hands. How do we salvage the mess we have created? How could anyone salvage the mess, without the ability to go back in time? Great destruction can be wreaked in a moment; the salvage must proceed incrementally.
More At:
http://davidwarrenonline.com/
Posted by: Revnant Dream at November 11, 2008 11:53 PMI'm glad you liked that, Jimbo, your
recommendations are always welcome.
Revnant Dream, "One of the grand mysteries of faith -- of human life -- is the irrevocable act."
This is so incredibly true. Decisions that are made by Government in the furor of a "Chicken Little" style of public debate usually lead to irrevocable harm. This is because the Government that makes those decisions is usually Left, has the support of the MSM, and will not acknowledge it's mistakes. We now have a new President in the US. He, like all Lefties will do unimaginable damage on the gun control front.
For the past several years, the US is the only country that has resisted firmly the UN's Gun Control Menace. This is not black helicopter stuff. This is real.
The anointed one will turn all that around overnight. Remember, you heard it here first.
Some evidence here: **http://www.garymauser.net/presentations.html***
The MSM in Quebec has decided Mario Dumont and the A.D.Q., the only party that has some free enterprise ideas and is currently the official opposition in the National Assembly, are out of the race in the current provincial election.
Once this narrative is set, it is very hard to get your message across (see columnist L. Ian MacDonald in The Gazette and the National Post). Premier Charest and P.Q. leader Pauline Marois have also taken to only attacking each other and not mentioning Dumont.
Despite Dumont's lapses into nationalism, he is from a region and generation that supports small business and choice in schools, for example. He wants to cut taxes and bureaucracy. Unfortunately in the past some of his ideas were ridiculed (abolishing school boards) by the MSM and he has had a hard time recovering. The usual problems with 'new' parties also plague the A.D.Q. - difficulty in attracting name candidates, lack of funds. This is a vicious cycle of course, since the fact that you have no name candidates means you have difficulty attracting funds.
The English rights party Affiliation Quebec has announced it is not running candidates in this election because of a lack of resources (a lot of rich anglos have left the province and many left are getting on in years to fight the good fight!).
What's the point of HRC's when we import hate every year?
"(Toronto) Mosque fights for rights, but denounces Jews, West"
(TORONTO STAR)
A mosque asking that Canadian workplaces respect a strict Muslim dress code is at the same time disseminating slurs against Jews and Western societies, and warning members against social integration.
The Khalid Bin Al-Walid Mosque near Kipling Ave. and Rexdale Blvd. serves as the religious authority for eight Somali women complaining to the Canadian Human Rights Commission that UPS Canada Ltd. violated their religious rights at a sorting plant. The mosque, founded in 1990 and serving upwards of 10,000 people, preaches strict adherence to sharia, or Islamic law, and no compromise with the West.
Teachings on the mosque's website, khalidmosque.com, refer to non-Muslim Westerners as "wicked," "corrupt" and "our clear enemies."
Sometimes Jews are singled out.
"Is it permissible for women to wear high-heeled shoes?" begins one posting in question-and-answer format. "That is not permissible," comes the reply. "It involves resembling the Disbelieving Women or the wicked women. It has its origin among the Jewish women."
Modern pastimes are condemned.
"What is the ruling on subscribing to sports channels?" another question begins. "Watching some of the female spectators, when the camera focuses on them time after time" stirs "evil inclinations," the lesson reads. "Some (players) may not even believe in Allaah."
Mosque leaders refused repeated requests for an interview.
The mosque's stand on the UPS case also appears contradictory.
In September, a Canadian Human Rights Tribunal heard two weeks of testimony from eight mosque members alleging "Islamophobia" at the company's west Toronto plant. Three final days of testimony are scheduled for next week.
The eight women, who lost their jobs at UPS, say Islam dictates that they wear a full-length skirt for modesty. The courier company insists that any skirt be knee-length for safety, as workers climb ladders up to 6 metres high.
Under their skirt, the women wear full-length trousers but say they do not want the lower part showing in case the shape of the calf can be discerned.
On the other hand, the mosque's website teachings forbid women to work outside the home in the first place. "It is known that when women go to work in the workplaces of men, this leads to mixing with men," one such posting says.
"This is a very dangerous matter," it reads. "It is in clear opposition to the texts of the Shariah that order the women to remain in their houses and to fulfill the type of work that is particular for her ...
"We ask Allah to protect our land and the lands of all Muslims from the plots and machinations of their enemies."
................
I guess they figure Canada is their land now.
Posted by: irwin daisy at November 12, 2008 8:14 AM"The Islamist Role in the 2008 Canadian Elections"
by Raheel Raza
American Thinker
In Montreal, the NDP paraded Samira Laouni, as "the first veiled candidate," in the province. She ran from the riding of Bourassa and made no attempt to hide her support for what she referred to as "real Shariah." She did not win. Jack Layton should have vetted out NDP candidates who favor Sharia like Laouni, whom Mansur has called a "CIC operative."
It seems strange that with Canadian forces fighting the Taliban in Afghanistan, the same support for Taliban style orthodoxy is allowed in Canada. Besides pro-Sharia politicians like Laouni, Islamists are spreading their message on the street. In Mississauga, Ontario, a woman by the name of Farhat Hashmi runs an Islamic school for girls. Hashmi wears a full niqab (face covering) and encourages young girls to emulate her. She is known for promoting a very conservative Islamic ideology that is based on Wahhabism. She, like other Islamists is in favor of Sharia in Canada.
The results of the Canadian election were an eye-opener because all Muslim candidates from all parties lost, with the exception of Yasmin Ratansi, who for some time has been trying to distance herself from her Muslim identity despite being the first Muslim woman to get elected to the Canadian parliament..
This is a clear indication that because of the incessant and unreasonable demands by Islamists, Canadians punished all Muslims. Most ordinary Canadians, well-meaning and decent folks, are fed up with demands for unreasonable accommodation and are no longer willing to put up with politics disguised as religion in the public sphere. Although Canadians are politically correct and diplomatic in public, the election result shows their true feeling about the trend that Muslims who may have an Islamist agenda are not welcome in Canada. Of course, the usual suspects are already screaming Islamophobia - again.
There is no rampant Islamophobia in Canada - only an attempt at gradual Islamization.
....
Elsewhere, a leading supporter of the Islamist causes and past Member of Parliament, Omar Alghabra, was defeated. He has previously condemned Canadian newspapers that called Hamas and Hezbollah "terrorist" organizations, advocated the complete repeal of Canada's anti-terrorist laws, and supported Sharia law in Ontario. Throughout the urban districts of Canada, many Islamists tried to sneak through but met with thumping defeats. Along with the Islamists, many secular and liberal minded progressive Muslims were also trounced in what may be described as "collateral damage."
http://www.meforum.org/article/2007
Not only Jews, alive and dead, are/have been baptized by the Mormons.
Mormons have baptized you and your ancestors.
...-
"Jewish group wants Mormons to stop proxy baptisms
NEW YORK - Holocaust survivors said Monday they were abandoning negotiations with the Mormon church over its posthumous baptisms of Jews who were killed in Nazi death camps.
Survivors claim elders of the Salt Lake City-based Church of Jesus Christ of Latter-Day Saints have refused to systemically search for and remove the names of Holocaust victims from their master genealogical database and have failed to prevent "zealots" from adding thousands of new Jewish names to the list in recent years - including thousands lifted from Yizkor books of Jews massacred at Berdichev in Ukraine.
"We are not going to continue meeting with the Mormon Church," said Auschwitz survivor Ernest Michel, head of the American Gathering of Jewish Holocaust Survivors, who has spearheaded efforts to scrub the Mormon lists since discovering in the 1990s that his parents were among 380,000 Holocaust victims having been baptized into the Christian faith.
Gary Motokoff, a Jewish genealogist who participated in meetings with Mormon leaders, described the negotiations as "fruitless.""
http://www.freerepublic.com/focus/f-news/2129676/posts
http://tinyurl.com/5q4xvh
Harsh rebuke by Judge towards OPP Lawyer and the political interference
by two ministers of McGuinty's government.
If you ever wanted proof just how much the lawyers within the Government are working hard to cover-up for Fantino all you have to do is read this story.
http://tinyurl.com/64dz46
Good cartoon on auto bailout.
Posted by: Glenn at November 12, 2008 10:02 AM(Via Israpundit) Another Brick In 'The Wall'?
Not many people can claim to have been at the center of arguably the greatest financial disaster and greatest national security disaster in American history. But [Jamie] Gorelick, said to be on the short list for attorney general by the New York Times, can. Surely that qualifies her for further government service.
Gorelick earned an estimated $26 million serving as vice chair of Fannie Mae from 1998 to 2003...
Before Fannie Mae, Gorelick was deputy attorney general in the Clinton Justice Department and architect of the policy that established a wall between intelligence and law enforcement, making "connecting the dots" before 9/11 a virtual impossibility...
(Via Israpundit) M. Zuhdi Jasser, Where Does the Fight Against Islamism Go from Here?
As President-elect Barack Obama and his administration begin the transition process from the Bush administration, anti-Islamists cannot help but be concerned. Those of us dedicated to stimulating and facilitating long overdue reform within the Muslim consciousness against the growing threat of political Islam cannot help but feel more adrift now than ever before with little legitimate “hope for change” in our policy against Islamists then we have ever had. The long and arduous two year campaign negligently spent little to no time laying out what the policy of the Obama administration would be toward Islamists, both foreign and domestic. While the Bush administration understood the basic need to promote liberty as an alternative to oppression in Muslim lands, they were unable to translate that into an effective policy with a critical engagement of Islamists. They did not seize the opportunities they had to counter political Islam by fostering grassroots movements for freedom against Islamists. If the Obama campaign is any sign of what is in store, we seem to be headed even further back into a retreat from any perceptible contest of ideas against the ideology of Islamism...
nicola - the Quebec MSM are still part of the Old Way of Quebec, which was and is focused only on the political identity of Quebec as either sovereign or part of a larger federation. This focus in a way ignores the economy of Quebec. That is, this focus doesn't answer the question of how Quebec would function, economically, as a sovereign state. It also doesn't deal with Quebec's productive role in a federation. It views Quebec only as a 'receiver' of federal largesse, not as contributing to the federation.
The separatistes ignore that Quebec has evolved itself as a dependent economy. Its industries are subsidzed by the federals, eg aerospace, dairy, films and art, information technologies. Head offices of the federal govt have been deliberately located there, to provide employment for thousands. It has set itself up as a social welfare state, depending on the federal largesse to support this easy lifestyle - and it has a massive debt. How would it economically exist without such a cocoon?
The two parties, the Liberals and PQ, don't deal with this issue. The Liberals expect the subsidies and support as part of being a 'federation'. The PQ expect the subsidies and support as payment for 'enslaving' Quebec.
The ADQ has a different focus, an economic focus on the ability of Quebecers to be self-sufficient and develop a non-dependent economy. This focus takes time to develop - after all, the only mindset of Quebecers has been one of dependency, either enraged or grateful. To move out of this cocoon and into self-reliance isn't easy.
The MSM are part of the 'old school' which sets Quebec up as 'captured' and therefore, the federal govt is 'obliged' to hand over the money to the detainees.
I think that Dumont's view is vital to Quebec. It can't continue to cocoon itself in the focus of the Old Way of Dependency. This is also what Bouchard was saying - Quebec has to move out of dependency and develop local economies.
Posted by: ET at November 12, 2008 10:27 AMYesterday's Remembrance Ceremonies in Owen Sound ontario.
We paraded up our main st.(4blocks) to the Cenotaph, with our cadets, cadet band, contingent from LFTC Meaford, a local pipe band, our full color party from our legion & about 20 Vets this year made the march & many legion members.
At the cenotaph we had a covered area for our vets to sit & view out of the elements. Again a very impressive turnout, i would estimate larger then last year(last yr 2500 or so). We have a couple of Owen Sounder's that gave the supreme sacrifice in Aphganistan & their parents layed wreaths, very touching.
The weather was a heavy wet snow during the parade that changed to sun then a rain by the end of the ceremony.
I observed a few people still wearing their poppies on their right side, Always on Left.
As for a few that commented yesterday on making this a National Day holiday. The RCLegion has spoken against this for the simple reason that people would not treat this as a National Day of Mourning, and would use it as a day off work to lay around or go to Shopping. Myself & a few others discussed this yesterday with a retired teacher who is our Master of Ceremonies for the wreath laying, He said you would most likly not get students to even come to the cenotaph, I dont know how the 11th is rec'd in provinces that have it as a day off.
Matthew Levitt and Michael Jacobson, The Money Trail: Finding, Following, and Freezing Terrorist Finance
U.S. and international efforts to combat the financing of terrorism are an underappreciated and little-understood aspect of the global counterterrorism campaign. But since terrorist attacks are often inexpensive to mount -- the September 11 attacks were staged for less than $500,000 -- why should governments devote so much attention to tracking and severing the money trail for terrorism?
[Full report in PDF only.]
Hey, what did you expect for only $2 billion? Subsidies to favoured industries and regions continue, no matter what colour the stripe of the government....
"OTTAWA -- The Harper government was warned by its own experts at Environment Canada two years ago that a multibillion-dollar plan to boost production of green fuels could cause more problems than benefits, Canwest News Service has learned.
"Based on global Life Cycle Assessments (LCA) of biofuel production, impacts on acidification, land degradation, waste generation, water use and human and environmental impacts were found more often to be unfavourable than favourable."
The government adopted legislation to regulate new targets last spring. It requires that gasoline contain an average renewable fuel content of 5% and that diesel contain an average renewable fuel content of 2% by 2010."
....Environment Minister Jim Prentice's office referred questions to his department which did not dispute the warnings from the briefing notes.
When you are pounding out subsidies to farmers, and you can call it 'environmental spending', hey, who is to know?
Thank heavens our government is conservative, and not liberal.
....
But some mechanics say E10 is nothing more than a quick fix. "They think that it's the next best thing, but they're finding out the hard way that it is not. It's causing more harm, damage then good," According to George Dunbook of Dunbrook Mobil in Albany. He says he's seen more cars come in with maintenance problems and lower fuel efficiency.
http://tinyurl.com/6ospn9
---------------
Posted by: MaryM at November 12, 2008 9:49 AM - great post - sadly, most politics is done in exactly this same fashion, in the courts on the taxpayers dime. Politicians and politicos fight to spend your money buying votes, or spend your money on their reputation. Either or, it's your money...
Great thought on Corus radio yesterday during Remembrance Day show. From an email to that show in response to an opinion lacking support for Canada's army:
'Every country has a standing army. Either your own or someone else's'
Posted by: Andrea at November 12, 2008 12:23 PM"The Americans With No Abilities Act (AWNAA)
WASHINGTON , DC 1/30/08- Congress is considering sweeping legislation
which will provide new benefits for many Americans. The Americans With
No Abilities Act (AWNAA) is being hailed as a major legislative goal by
advocates of the millions of Americans who lack any real skills or
ambition.
'Roughly 50 percent of Americans do not possess the competence and drive
necessary to carve out a meaningful role for themselves in society,'
said California Senator Barbara Boxer. 'We can no longer stand by and
allow People of Inability to be ridiculed and passed over. With this
legislation, employers will no longer be able to grant special favors to
a small group of workers simply because they have some idea of what they
are doing.'
In a Capitol Hill press conference, House Majority Leader Nancy Pelosi
and Senate Majority Leader Harry Reid pointed to the success of the U.
S. Postal Service, which has a long-standing policy of providing
opportunity without regard to performance. Approximately 74 percent of
postal employees lack any job skills, making this agency the single
largest U. S. Employer of Persons of Inability.
Private-sector industries with good records of nondiscrimination against
the Inept include retail sales (72%), the fast food industry (68%), and
home improvement 'warehouse' stores (65%). At the state government
level, the Department of Motor Vehicles also has a great record of
hiring Persons of Inability (63%).
Under the Americans With No Abilities Act, more than 25 million 'middle
man' positions will be created, with important-sounding titles but
little real responsibility, thus providing an illusory sense of purpose
and performance.
Mandatory non-performance based raises and promotions will be given, to
guarantee upward mobility for even the most unremarkable employees. The
legislation provides substantial tax breaks to corporations that promote
a significant number of Persons of Inability into middle management
positions, and gives a tax credit to small and medium-sized businesses
that agree to hire one clueless worker for every two talented hires.
Finally, the AWNA Act contains tough new measures to make it more
difficult to discriminate against the Nonabled -- banning, for example,
discriminatory interview questions such as 'Do you have any skills or
experience which relate to this job?'
'As a Nonabled person, I can't be expected to keep up with people who
have something going for them,' said Mary Lou Gertz, who lost her
position as a lugnut twister at a GM plant in Flint, Michigan , due to
her lack of any discernible job skills. 'This new law should really help
people like me.' With the passage of this bill, Gertz and millions of
other untalented citizens will finally see some light at the end of the
tunnel.
Said Massachusetts Senator Ted Kennedy: 'As a Senator With No Abilities,
I believe the same privileges that elected officials enjoy ought to be
extended to every American with No Abilities. It is our duty as
lawmakers to provide each and every American citizen, regardless of his
or her inadequacy, with some sort of space to take up in this great
nation.'"
There are several new articles at Current Trends in Islamist Ideology:
Joshua T. White, Vigilante Islamism in Pakistan
Stefan Meining and Ahmet Senyurt, The Case of the Bavarian Taliban
Altay Goyushov, Islamic Revival in Azerbaijan
Ehud Rosen, The Muslim Brotherhood's Concept of Education
It's good to see that the University of Waterloo is not averse to hosting a seminar that is actually about social and economic liberty, ie. a conservative (or, if you will, a traditional liberal) perspective. Maybe there is at least one of our institutions of higher learning that is not completely in thrall to marxism and political correctness. Still, I wonder if the event will draw out the usual array of marxist and nihilist "protestors".
http://liberalstudies.ca/events/
Alan - sounds like a conversation I had with a friend yesterday !!
In the mid 90s he helped establish a gold mining operation in the former USSR. Fully operational, it had a work force of about 700.
A much smaller, but similar mine was operating nearby. It's work force was about 7000. Yes 10 times as many workers producing less product.
Why do some in North America want to go down the Socialism road ??
Posted by: ron in kelowna at November 12, 2008 2:29 PMJoshua Muravchik, Two Cheers: Second Thoughts on the Bush Doctrine
George W. Bush’s presidency is drawing to an end in a diminuendo that will not do much for his poll ratings but may someday boost his historical standing. The war in Iraq seems finally to have turned around. Victory there may yield some of the beneficial effects that Bush promised when he ordered American forces into Iraq. One result is Bush being viewed in a softer light. Summing up some recent magazine essays, the Washington Post muses that “history may treat The Decider much more gently than many of his critics imagine.”...
Some clear signals being made. I am deeply skeptical about what this mouth-breathing sophist usually has to say - more than likely this is simply 'messaging to the base' crap. But if its true, I'll take back a nasty thing I said about the little fella....
Flaherty comments on auto sector oabsolutely disgusting": CAW
1 hour ago
TORONTO — Union officials are not happy with the latest comments from Federal Finance Minister Jim Flaherty on possible help for North American automakers.
Flaherty says people on the street in his own riding of Whitby-Oshawa are telling him not to use taxpayer dollars to rescue an industry that might not survive.
Chris Buckley, president of CAW Local 222 in Oshawa, says it's "absolutely disgusting" that Flaherty says he's only monitoring the situation when immediate action is required.
Buckley says Canada can't wait for the United States and President-elect Barack Obama to take office in January, saying he's worried GM in Canada could be gone by then.
Automakers have said they need more than $1 billion in loan guarantees to help tide the sector over until demand recovers for North American-produced vehicles in the U.S.
The federal Conservatives have long rejected direct intervention in the auto sector.
well, that didn't take long. Guess the leprechaun gets to spread your gold around picking winners and losers with taxpayers cash. All the automakers have to do is dress properly, observe the dress code, and pay fealty to the wonderful all-knowing all-seeing truth holding Government....
On Wednesday, he confirmed that discussions with Canada's Big Three auto manufacturers are in progress, and reiterated that there is money to be spent under certain conditions. But Flaherty suggested for the first time Sunday that Ottawa may be willing to help, with the proviso that aid is targeted at auto plants with viable prospects.
"We have been having discussions with the Detroit Three here in Canada," he said. "We have money available for innovation -- transformational money, if I may call it that. Because at the end of the day, we need car makers who are making cars people want to buy."
'We' need car makers. 'We'. The Royal one. You know. 'We'.
Central planning indeed, comrade.
Posted by: hardboiled at November 12, 2008 2:48 PMStock up on yer anti-freeze subsidies. Free from the State. Buy and hold 'til the warming turns cold to ICE.
It's Flaherty's Cooling.
Don't worry ... it's all krap.
...-
"Earth may face freeze worse than Ice Age--study
alertnet.org"
""There's no excuse for saying 'we've got to keep pumping carbon dioxide (CO2) into the atmosphere", he told Reuters by telephone, adding that the cooling was projected to start in 10,000 to 100,000 years."
""We're saying: 'don't push the panic button'," said Thomas Crowley, an American scientist at Edinburgh University who shared authorship of the study in the journal Nature with a colleague at Toronto University."
http://www.freerepublic.com/focus/f-news/2130862/posts
this seems to be a few years old . but there are some interesting interconnections.
BMW owns:
-BMW
-Mini
-Rolls Royce
Chrysler owns:
-AMC (brand discontinued -- Chrysler bought AMC primarily for the Jeep brand which was owned by AMC)
-Chrysler
-Dodge
-Eagle (brand discontinued)
-Jeep
-Plymouth (brand discontinued)
Daimler/Chrysler owns:
-Chrysler (small percentage)
-Maybach
-Mercedes-Benz
-Smart
Fiat owns:
-Alfa Romeo
-Ferrari
-Fiat
-Lancia
-Maserati
Ford owns:
-Aston Martin (SALE PENDING)
-Ford
-Jaguar
-Land Rover (bought from BMW)
-Lincoln
-Mazda (Ford owns 33% of Mazda)
-Mercury
-Volvo cars
Fuji Heavy Industries owns:
-Subaru
General Motors owns:
-Buick
-Cadillac
-Chevrolet
-Daewoo (GM owns 44%)
-Fiat (GM has decided to divorce itself from Fiat as of Feb '05, but will retain 10% ownership.)
-GMC
-Holden
-Hummer
-Oldsmobile (brand discontinued)
-Opel
-Pontiac
-Saab
-Saturn
-Suzuki (2.5%, from 20%)
-Vauxhall
Honda owns:
-Acura
-Honda
Hyundai owns:
-Hyundai
-Kia
Isuzu owns:
-Isuzu
(Mitsubishi Corp., Itochu Corp. and Mizuho Corporate Bank owns part of Isuzu.)
Mitsubishi Corp. owns:
-Isuzu (13.6%)
-Mitsubishi Motors Corp (13%)
Nissan owns:
-Infiniti
-Nissan
-Renault (Nissan owns 15%)
PSA Peugeot Citroen owns:
-Citroen
-Peugeot
Porsche owns:
-Porsche
-VW (~31%)
Renault owns:
-Nissan (Renault owns 44%)
Toyota owns:
-Daihatsu (~51%)
-Fuji Heavy Industries -- Subaru (Toyota owns ~20%. Toyota bought this from GM in late 2005. )
-Isuzu (5.9%, announced 7 Nov. 2006)
-Lexus
-Scion
-Toyota
Volkswagen owns:
-Audi
-Bentley
-Bugatti
-Lamborghini
-SEAT
-Skoda
-Volkswagen
The last paragraph says it all...
PRESS RELEASE
Canada's Banks Welcome Federal Government's Steps to Facilitate Credit Markets
Last update: 12:14 p.m. EST Nov. 12, 2008
TORONTO, ONTARIO, Nov 12, 2008 (MARKET WIRE via COMTEX) -- The Canadian Bankers Association (CBA) welcomes the announcement today that the government will buy an additional $50 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation (CMHC), will reduce the base commercial pricing of the Canadian Lenders Assurance Facility by 25 basis points and waive the 25 basis point across-the-board surcharge.
These steps are in addition to the move by the Office of the Superintendent of Financial Institutions (OSFI) to increase the allowable limit of innovative and preferred shares in Tier 1 capital and the Bank of Canada's measure to provide additional liquidity to the Canadian financial system through the Canadian Dollar Term Loan Facility, for which eligible collateral will be the non-mortgage loan portfolio.
"The steps taken by the federal government, OSFI and the Bank of Canada are prudent measures that will help ensure that our stable banks are not put at a disadvantage because of the steps other governments have taken to support their banks," said Nancy Hughes Anthony, President and CEO of the CBA.
TORONTO, Nov 12 (Reuters) - The Canadian government will buy up to another C$50 billion ($41 billion) in insured mortgages from banks as part of a series of steps announced on Wednesday to improve the availability of long-term credit.
WASHINGTON (MarketWatch) -- Treasury Secretary Henry Paulson laid out details for the next stage of the government's financial-market rescue package Wednesday, announcing that he has shelved the original plan to buy troubled mortgage assets while turning his attention to nonbank financial institutions and consumer finance.
In a broad and deep review of the controversial $700 billion effort, Paulson defended the steps taken to date, but in the same breath said that financial markets remain fragile and that the focus must remain on "recovery and repair." See MarketWatch First Take commentary.
But in a striking admission, Paulson said that buying up mortgage assets "is not the most effective way" to use government funding.
Purchasing these so-called "toxic" assets was once the cornerstone of the rescue plan for financial markets and was almost the entire focus of Congress when the package was being debated before its enactment. But almost as soon as Treasury received the money, it decided that giving capital to banks in return for preferred stock was a better use of the funds.
'[Paulson's] been flip-flopping on every plan and it doesn't look like he has a plan.'
Oops. Re-do!!! Mulligan!!!
Posted by: hardboiled at November 12, 2008 3:02 PMosama obama tomato tomata
http://www.cnn.com/2008/POLITICS/11/12/binladen.hunt/index.html?iref=mpstoryview
at least obama has the experience of working with terrorists.
Posted by: cal2 at November 12, 2008 3:55 PMI am telling ya, it's the worst -- I am telling ya, the very Media Hyped worst thing since the Great Depression ??
http://2.bp.blogspot.com/_otfwl2zc6Qc/SRr6OYt8_CI/AAAAAAAAHs8/Gcu1rstJxig/s1600-h/unrate.bmp
Posted by: ron in kelowna at November 12, 2008 4:09 PM
"National Socialism (parallels between the Russian and German experience with socialism)
In 1944, Ludwig von Mises published one of his least-known masterworks: Omnipotent Government: The Rise of the Total State and Total War. Drawing on his prewar experience in Vienna, watching the rise of the national socialists in Germany (the Nazis), who would eventually take over his own homeland, he set out to draw parallels between the Russian and German experience with socialism.
It was common in those days, as it is in ours, to identify the Communists as leftist and the Nazis as rightists, as if they stood on opposite ends of the ideological spectrum. But Mises knew differently. They both sported the same ideological pedigree of socialism. "The German and Russian systems of socialism have in common the fact that the government has full control of the means of production. It decides what shall be produced and how. It allots to each individual a share of consumer's goods for his consumption."
http://www.freerepublic.com/focus/f-news/2130921/posts
(entire article)
things just got alot more dangerous out there.
http://www.foxnews.com/story/0,2933,450144,00.html
Posted by: cal2 at November 12, 2008 6:00 PMWho is 'Hardboiled' talking to?
I suppose he thinks the old Proctor and Gamble media frequency method will make a difference?
Perhaps he should test his message before broadcasting it.
Weird.
Posted by: irwin daisy at November 12, 2008 10:57 PM