NEW YORK (CNNMoney.com) -- A stock selloff gained speed Thursday as investors dumped technology and other large cap stocks amid weaker economic reports, a stronger dollar and continued jitters in the aftermath of last week's selloff.
The market wariness overshadowed Ford Motor's first profit in 4 years and President Obama's announcement of a push for jobs.
NEW YORK (CNNMoney.com) -- A stock selloff gained speed Thursday as investors dumped technology and other large cap stocks amid weaker economic reports, a stronger dollar and continued jitters in the aftermath of last week's selloff.
The market wariness overshadowed Ford Motor's first profit in 4 years and President Obama's announcement of a push for jobs.
Source:CNNMoney.com
Showing posts with label OSU no punish banks. Show all posts
Showing posts with label OSU no punish banks. Show all posts
Thursday, January 28, 2010
Obama's State of the Union Address: Who's Your POTUS?
Obama's State of the Union Address: Who's Your POTUS?
President Barack Obama was unapologetic and a bit defiant as he delivered his first State of the Union address on Wednesday. Obama focused mainly on the economy and essentially reaffirmed his Democratness, which was a refreshing change from a week of Democratic leaders surrendering in response to Scott Brown's hairy abdomen.
He affirmed his support for the stimulus plan and the banks. He said we needed the bailout and have already recovered most of cash spent on banks. Obama proposed a fee on banks to recover the rest use $30 billion repaid to help small banks. He also expressed support for investment in alternative energy sources, affirmed the existence of climate change and endorsed an aggressive trade policy with other countries.
The Republicans didn't enjoy the early part of the speech. Poor babies.
Obama uttering a platitude on healthcare reform finally got the GOP to stand. Not sure why. President Obama cited Congressional Budget Office (CBO) numbers that show healthcare reform cutting the deficit $1 trillion over 20 years. Obama said Congress should look at bill again, or offer an alternative. He added "Let's get it done."
Next, we got a history lesson. Obama mentioned the surplus President Clinton left us and how it turned into a huge deficit. He mentioned no specific person or party, and blamed nobody in particular. Senator John McCain was shown mouthing something like "Blaming Bush?" to Senator Lindsey Graham. A real knee-slapper. Of course, we could be mistaken.
President Obama also mentioned his budget freeze idea, which McCain allegedly supports.
He criticized the Supreme Court decision on election finance, which Justice Samuel Alito's shaking head didn't like. This Bostonist always watches the State of the Union address and has never seen that.
The concluding segment went like this in Congress: Troops? Support 'em! Haiti? Help 'em. Freedom? Love it. Gays and immigrants? We know about them.
Source:bostonist.com/
President Barack Obama was unapologetic and a bit defiant as he delivered his first State of the Union address on Wednesday. Obama focused mainly on the economy and essentially reaffirmed his Democratness, which was a refreshing change from a week of Democratic leaders surrendering in response to Scott Brown's hairy abdomen.
He affirmed his support for the stimulus plan and the banks. He said we needed the bailout and have already recovered most of cash spent on banks. Obama proposed a fee on banks to recover the rest use $30 billion repaid to help small banks. He also expressed support for investment in alternative energy sources, affirmed the existence of climate change and endorsed an aggressive trade policy with other countries.
The Republicans didn't enjoy the early part of the speech. Poor babies.
Obama uttering a platitude on healthcare reform finally got the GOP to stand. Not sure why. President Obama cited Congressional Budget Office (CBO) numbers that show healthcare reform cutting the deficit $1 trillion over 20 years. Obama said Congress should look at bill again, or offer an alternative. He added "Let's get it done."
Next, we got a history lesson. Obama mentioned the surplus President Clinton left us and how it turned into a huge deficit. He mentioned no specific person or party, and blamed nobody in particular. Senator John McCain was shown mouthing something like "Blaming Bush?" to Senator Lindsey Graham. A real knee-slapper. Of course, we could be mistaken.
President Obama also mentioned his budget freeze idea, which McCain allegedly supports.
He criticized the Supreme Court decision on election finance, which Justice Samuel Alito's shaking head didn't like. This Bostonist always watches the State of the Union address and has never seen that.
The concluding segment went like this in Congress: Troops? Support 'em! Haiti? Help 'em. Freedom? Love it. Gays and immigrants? We know about them.
Source:bostonist.com/
State of the Union notes
This year, I will work with Congress and our military to finally repeal the law that denies gay Americans the right to serve the country they love because of who they are," Obama said.
But it fell short for some gay activists. An organization representing service members who had been dismissed called on Obama to push a repeal in the upcoming Pentagon budget.
STAYING AT HOME: HUD secretary gets the call
Housing and Urban Development Secretary Shaun Donovan got the nod to miss attending the speech in person -- fulfilling a requirement that someone in the line of succession stay away in case a catastrophe takes out the country's leadership.
Secretary of State Hillary Clinton also missed Obama's State of the Union address, but she was in London attending a conference.
REMEMBERING HAITI: A thank-you for pitching in
The president praised Americans who are helping Haiti recover. Obama said he was inspired by the "fundamental decency" of the American people. "It lives on in the 8-year-old boy in Louisiana, who just sent me his allowance and asked if I would give it to the people of Haiti," he said.
LET'S MEET: Extending a hand to the GOP
The president said he wanted to hold monthly meetings that included Republican leaders.
Obama looked at them and said, jokingly: "I know you can't wait."
A NOD TO THE MISSUS: Child obesity initiative lauded
The president lauded Michelle Obama for her initiative to lower the rate of child obesity in the country. The chamber stood in applause, while the first lady, sitting in the gallery, gently nodded.
"She gets embarrassed," Obama told members of Congress.
GALLERY GUESTS: The first lady's VIPs
The gallery guest list of 25 people sitting with Michelle Obama included:
• Tina Dixon, a former stay-at-home mom whom Obama met when he visited a jobs training site in Allentown, Pa., that received funding from the economic stimulus package
Source:freep.com/
But it fell short for some gay activists. An organization representing service members who had been dismissed called on Obama to push a repeal in the upcoming Pentagon budget.
STAYING AT HOME: HUD secretary gets the call
Housing and Urban Development Secretary Shaun Donovan got the nod to miss attending the speech in person -- fulfilling a requirement that someone in the line of succession stay away in case a catastrophe takes out the country's leadership.
Secretary of State Hillary Clinton also missed Obama's State of the Union address, but she was in London attending a conference.
REMEMBERING HAITI: A thank-you for pitching in
The president praised Americans who are helping Haiti recover. Obama said he was inspired by the "fundamental decency" of the American people. "It lives on in the 8-year-old boy in Louisiana, who just sent me his allowance and asked if I would give it to the people of Haiti," he said.
LET'S MEET: Extending a hand to the GOP
The president said he wanted to hold monthly meetings that included Republican leaders.
Obama looked at them and said, jokingly: "I know you can't wait."
A NOD TO THE MISSUS: Child obesity initiative lauded
The president lauded Michelle Obama for her initiative to lower the rate of child obesity in the country. The chamber stood in applause, while the first lady, sitting in the gallery, gently nodded.
"She gets embarrassed," Obama told members of Congress.
GALLERY GUESTS: The first lady's VIPs
The gallery guest list of 25 people sitting with Michelle Obama included:
• Tina Dixon, a former stay-at-home mom whom Obama met when he visited a jobs training site in Allentown, Pa., that received funding from the economic stimulus package
Source:freep.com/
The State of Our Union Is Long
President Obama made sure to convey to struggling Americans that he understands their anxieties. For them, he said, “change has not come fast enough. Some are frustrated; some are angry. They don't understand why it seems like bad behavior on Wall Street is rewarded, but hard work on Main Street isn't; or why Washington has been unable or unwilling to solve any of our problems. They're tired of the partisanship and the shouting and the pettiness. They know we can't afford it. Not now.”
At a time when most Americans think the nation is on the wrong track, he president couched his assertion that the state of the union is strong in this way: “Despite our hardships, our union is strong. We do not give up. We do not quit. We do not allow fear or division to break our spirit.”
Though he made several pleas for bipartisan cooperation, the president could not hide his irritation with a GOP he sees as partisan and obstructionist. After listing tax cuts that we part of last year’s Recovery Act – “We cut taxes for small businesses. We cut taxes for first-time homebuyers. We cut taxes for parents trying to care for their children. We cut taxes for 8 million Americans paying for college” – he noted that Republicans in the chamber weren’t clapping.
“I thought I'd get some applause on that one,” he joked.
At another point, discussing how his proposed freeze on government spending “won't take effect until next year when the economy is stronger,” Republicans laughed, scoffing.
“That's how budgeting works,” the president ad-libbed, an edge in his voice.
He made clear his top priority. “I want a jobs bill on my desk without delay,” he said, though he also touched on energy, financial regulatory reform, education, exports, and lobbying and earmark reform.
Of health care reform – which has consumed so much time and political capital – the president made a push but offered no clear direction. Joking that “by now it should be fairly obvious that I didn't take on health care because it was good politics,” the president acknowledged about the health care bill that “the longer it was debated, the more skeptical people became. I take my share of the blame for not explaining it more clearly to the American people. And I know that with all the lobbying and horse-trading, the process left most Americans wondering, ‘What's in it for me?’”
“As temperatures cool, I want everyone to take another look at the plan we've proposed,” he said. “If anyone from either party has a better approach that will bring down premiums, bring down the deficit, cover the uninsured, strengthen Medicare for seniors, and stop insurance company abuses, let me know. Let me know. Let me know. I'm eager to see it. “
The president tried to re-claim the mantle of change. “I campaigned on the promise of change –- ‘Change we can believe in,’ the slogan went,” he said. “And right now, I know there are many Americans who aren't sure if they still believe we can change –- or that I can deliver it. But remember this –- I never suggested that change would be easy, or that I could do it alone.”
Source:blogs.abcnews.com/
Banking shares up after Obama says he does not want to punish banks
Shares in Barclays rose more than 4% this morning to become the FTSE 100's biggest gainer after President Obama loosened his hard stance on banks.
Shares in Barclays were up 11.5p, or 4.31%, at 278.35p.
In his State of the Union speech yesterday, Obama said that he does not want to punish banks. However, he added that he would reject any financial reform bill that is too weak.
"Look, I am not interested in punishing banks. I'm interested in protecting our economy. A strong, healthy financial market makes it possible for businesses to access credit and create new jobs. It channels the savings of families into investments that raise incomes. But that can only happen if we guard against the same recklessness that nearly brought down our entire economy," he said.
Shares in Lloyds were up 1.8p, or 3.56%, at 52.66p and shares in the Royal Bank of Scotland (RBS) were up 1.04p, or 3.15%, at 34.03p.
Source:guardian.co.uk/
Shares in Barclays were up 11.5p, or 4.31%, at 278.35p.
In his State of the Union speech yesterday, Obama said that he does not want to punish banks. However, he added that he would reject any financial reform bill that is too weak.
"Look, I am not interested in punishing banks. I'm interested in protecting our economy. A strong, healthy financial market makes it possible for businesses to access credit and create new jobs. It channels the savings of families into investments that raise incomes. But that can only happen if we guard against the same recklessness that nearly brought down our entire economy," he said.
Shares in Lloyds were up 1.8p, or 3.56%, at 52.66p and shares in the Royal Bank of Scotland (RBS) were up 1.04p, or 3.15%, at 34.03p.
Source:guardian.co.uk/
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