Y2Kyoto: This Is Awkward

Alternative Subsidy 23 Comments

“This was the moment that the rise of the oceans began to slow…”

The White House is facing fresh political headaches over energy loans as a second Energy Department-backed company goes bankrupt and Republicans prepare to subpoena White House internal communications on the failed solar company Solyndra.
Beacon Power Corp., the energy storage company that received a $43 million Energy Department (DOE) loan guarantee last year, filed for bankruptcy over the weekend, prompting a fresh wave of GOP criticism of the embattled DOE loan program.

Meanwhile, across the pond…

“They have effectively bankrupted thousands of companies, including 25,000 jobs,” he said. “Most of them will be gone before Christmas. We built a business on the back of David Cameron’s promises. He has betrayed us twice. Anybody thinking of investing in government-sponsored green opportunities, I would advise them to run away.
“All my business will stop with immediate effect if this goes through. It’s an extremely black day.”

You know, if I were running NDP strategy, I’d be carpet bombing Bill Boyd’s oil-rich Kindersley constituency with pamphlets detailing these billion dollar international boondoggles, with a focus on the SaskPower wind projects.
On the other hand, if I were running Bill Boyd’s office, I’d get him an internet connection so he can learn about about them for himself.

Sex Scandal with Prominent Black American Politician

Media 48 Comments

Reading the headline, you probably assumed you’d be reading about this, right?
Instead, please focus your attention on the name “Vera Baker“. Most people have never heard of her. Why? Because the vast majority of the mainstream media doesn’t strive to report the news fairly, in an unbiased manner. Instead they just serve as a defensive wall around Barack Obama and viciously attack anyone who threatens his reign of the kingdom.
There are a few cracks though.

It’s Probably Nothing

Great Moments In Socialism 23 Comments

It’s just been that kind of morning.
Reuters;

Stocks tumbled about 2 percent on Tuesday after the deal to rescue Greece and prevent a wider sovereign debt crisis was thrown into disarray.”
Adding to the gloomy sentiment, factory activity in Asia’s big export economies slowed to their weakest rate in nearly three years in October, while UK manufacturing suffered a sharp decline, reigniting fears of a global slowdown.

“Papandreou’s power weakens.” Meanwhile, in Germany….

It’s Probably Nothing

Radioactive 29 Comments

Via email;

The servers are buried right now, but the FT is reporting that the Australian Stock Exchange (ASX) has closed it’s commodity exchanges “until further notice” due to the large number of contracts held by MF Global’s clients.
The firm apparently tapped customer funds to try and save itself. Every open account’s current balance, held by that firm, is now open to question. The collateral call by counterparties, last Thursday, since we now can see that that was what was going on, a massive liquidation of positions to satisfy collateral needs, has frozen every account and position across the globe.
Here’s the link to the FT story, and here’s the customer theft story:

What began as nearly $1 billion missing had dropped to less than $700 million by late Monday. It is unclear where the money went, and some money is expected to trickle in over the coming days as the firm sorts through the bankruptcy process, the people said.
But regulators are examining whether MF Global diverted some customer money to support its own trades as the firm teetered on the brink of collapse. If that was the case, it could violate a fundamental tenet of Wall Street regulation: Customers’ money must be kept separate from company money.

This is going to get very, very big.
Only real press, not behind a firewall, that I can get to, so far…

More here: Regulators Investigating MF Global for Missing Money. MF Global was run by former New Jersey Governor, Jon Corzine.
Flashback!

A similar benefit was held in April at the home of the wife of Jon Corzine, the ex-governor of New Jersey and former chief executive of Goldman Sachs. Both events are part of a concerted effort to lure deep-pocketed donors back to Mr. Obama’s corner for his 2012 re-election campaign.

And check out all the ways Corzine is connected to Democrats and Obama.

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