usdemocrats.com political news weblog
October 13, 2008
back to weblog index
usdemocrats.com political news weblog
October 13, 2008
back to weblog index
|
Britain to invest billions
in banks -------------------------------------------------------------------------------- The Treasury will pump 37 billion pounds ($64 billion) into the Royal Bank of Scotland, HBOS and Lloyds TSB. “The overall aim of these measures is to support stability in the financial system; to protect ordinary savers, depositors, businesses and borrowers; and to safeguard the interests of the taxpayer,” a statement from the Treasury said. The banks have been battered in the global
financial meltdown and the influx of funds is designed to stabilize
their positions and boost the country’s long-term economic
outlook. |
|
Krugman Wins Nobel Prize -------------------------------------------------------------------------------- Said Krugman: "It's been an extremely
weird day, but weird in a positive way." |
|
Forum Poll: Obama Leads in
North Dakota -------------------------------------------------------------------------------- Forum Poll: Obama Leads in North Dakota "The poll indicates McCain's once-comfortable
lead in North Dakota has melted away as Obama is the widely favored
choice among voters who consider the economy the most pressing
issue." |
|
Obama Closing Deal in Pennsylvania -------------------------------------------------------------------------------- Nonetheless, Politico says "the McCain campaign continues to signal it intends to contest the state and its 21 electoral votes to the end. It is a high-risk, high-return endeavor: Pennsylvania represents a costly gambit, one that siphons resources from must-win states such as Ohio and Florida, but a win here would enable McCain to lose a few other states that George W. Bush carried and still capture the White House." Time notes the Clintons will campaign with
the Bidens in Scranton, PA later today. |
|
PPP Poll: Obama Way Ahead
in Colorado -------------------------------------------------------------------------------- Key findings: Obama is now leading 71% to 21% with Hispanic voters, a considerable improvement from a 57% to 36% edge in PPP's survey of the state taken three weeks ago. The white vote is exactly the same as it was previously, a 48% to 47% advantage for Obama. Analysis: "The numbers paint a picture
that shows it nearly impossible for McCain to win the state at
this point. Only 6% of voters are undecided, and among those
who do have a preference currently only 6% say there's any chance
they could change their mind. Obama's lead at this point is such
that McCain would have to win virtually every undecided, keep
everyone who could change their mind currently supporting him
in his camp, and win over almost 100% of current Obama supporters
who say they aren't totally committed to him. The chances of
all those things happening? Not very good." |
|
House and Senate Race Roundup -------------------------------------------------------------------------------- http://feeds.dailykos.com/~r/dailykos/index/~3/9PEjb10zZ7c/627859 |
|
C-SPAN Daily Alert -------------------------------------------------------------------------------- C-SPAN Highlights Tonight: Tomorrow: Tonight: Tomorrow: Tonight: Tomorrow: ********************************************************************** Tonight: Tomorrow:
********************************************************************** * 3rd Presidential Debate at Hofstra Univ.
in Hempstead, NY - Weds., C-SPAN, 9pm ET LIVE * Newspaper Articles * The owners of a construction company and a dirt excavation business testified Friday that Alaska Sen. Ted Stevens and his wife paid them thousands of dollars for services associated... - Full Story at www.c-span.org/capitolspotlight/ * In which census did California surpass
New York as the nation’s most populous state? - Answer at
www.c-span.org/capitolspotlight/ |
|
Hoyer Statement Following
Meeting with House Democratic Leaders and Economic Experts --------------------------------------------------------------------------------
WASHINGTON, DC - House Majority Leader Steny H. Hoyer (MD) released the following statement today after House Democratic leaders met with economic experts: "Let me assure you: No one here underestimates the gravity of our economic crisis. That is why House Democrats have held several forums starting last December with economic experts to discuss how to respond to the crisis. "But I left today's meeting confident that the Emergency Economic Stabilization legislation Congress passed early this month gives the Treasury Department the authority and flexibility it needs to respond to this crisis. "I am encouraged that Secretary Paulson has shown a willingness to use this authority to make direct capital investments in financial institutions, which the economists advised us is the most beneficial action that can be taken in the short term to stabilize the system. "Let there be no doubt, Congress stands behind Treasury and the Federal Reserve as they take the aggressive action we need to put a stop to this crisis. I applaud Secretary Paulson and Chairman Bernanke for their work. "The economic recovery program won't turn our economy around instantly—especially when none of the authorized money has been spent yet. We're investing taxpayer money, and it's essential that that money be invested deliberately, not recklessly. "However, I am still confident that the financial recovery program will unfreeze our credit markets, protect families' homes, and help millions of workers keep their jobs. "Even so, the financial recovery program was emergency surgery—it will take much more work to get our economy back to health. "In the short term, I believe Congress needs to consider further legislation to create jobs and help families in need. The House is taking immediate action by asking relevant committees to hold hearings to discuss options that will best help our economy grow. "But even more, Congress needs to be flexible. As conditions change, we may also consider strengthening the tools available to the Treasury and the Fed to respond to the credit crisis, steady the housing market, and take other stabilizing steps. "As for the next Congress, I think it should have two main economic priorities. "First, we must restore effective oversight to our financial markets. "The Democratic Congress has already passed comprehensive subprime lending reform, and we intend to continue on that path. "Second, it's clear that a deep cause of this crisis has been fiscal recklessness—the record deficits and debt that have created a collapse of confidence in our financial system and set a horrible example for businesses and consumers. "Stimulating our economy is important—but so is fiscal discipline. "Striving toward it must remain a central goal. "In many ways, this is the economic challenge of our lifetimes. "But I am confident that we will rise to meet the challenge with the optimism and innovation that have made our country great."
### |
|
In these final three weeks,
our opponents are signaling they will do whatever they can to
distract voters and distort the truth, so we need to redouble
our efforts. -------------------------------------------------------------------------------- The negative ads and smears seem to grow by the day. The most effective way to respond is by reaching out to more people than ever before with the truth -- the stakes in this election are too high not to. We need to grow this movement by 100,000 new donors before Friday. A previous donor has promised to match your donation to encourage you to give for the first time. This is your last opportunity to partner with a fellow supporter and make your donation go twice as far. Your donation of $5 will become $10, $25 becomes $50, and $50 becomes $100. Double your impact by making a matched donation today.
Our first 100,000 donors gave this campaign the strength it needed to become a movement. Back then, few pundits or insiders thought we had a chance. But we overcame steep odds. Those first 100,000 donors turned into millions of people like you, all across this country, coming together to work for change. Now we need to come full circle. We have just one week to grow this movement by 100,000 donors. It won't be easy, but we've always grown this campaign when it mattered most. Will you step up and own a piece of this movement today? Make a donation right now and your gift will be doubled by a previous supporter: https://donate.barackobama.com/match We only have 22 days left. Help this campaign finish as strong as we started. Make a matched donation today. Thanks, Barack |
|
Early Voting Begins Ahead
of US Presidential Election -------------------------------------------------------------------------------- |
|
Interactive Map: Presidential
Battleground States -------------------------------------------------------------------------------- http://www.sciam.com/article.cfm?id=interactive-map-battleground-states |
|
Facts and figures in Canada's
federal election -------------------------------------------------------------------------------- http://ap.google.com/article/ALeqM5hR5BIHYfEPefQplRZZ4x8cdTbF6gD93PPBP02 |
|
US election: Obama lays out
details of $60bn economic plan -------------------------------------------------------------------------------- |
|
Senators share presidential
candidates' energy views -------------------------------------------------------------------------------- |
|
Stephanopoulos: No Candidate
Has Ever Lost with Obama's Lead Over ... -------------------------------------------------------------------------------- http://blogs.abcnews.com/politicalradar/2008/10/stephanopoulo-9.html |
|
Brokaw Trumpets: 'Democrats
Are About to Reclaim Their Power' -------------------------------------------------------------------------------- |
|
Congressional Democrats ramp
up efforts for another stimulus package -------------------------------------------------------------------------------- http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/10/13/MNBJ13G887.DTL |
|
Democrats target voters who
think race is an issue -------------------------------------------------------------------------------- |
|
House Democrats weigh new
economic stimulus -------------------------------------------------------------------------------- http://www.reuters.com/article/vcCandidateFeed7/idUSN1346906320081013 |
|
Democrats offer their vision
for economy -------------------------------------------------------------------------------- http://www.ft.com/cms/s/0/3acf4fd2-995b-11dd-9d48-000077b07658.html |
|
Senate Democrats not taking
any chances -------------------------------------------------------------------------------- |
|
Democrats work on economic
plan as election nears -------------------------------------------------------------------------------- |
|
Presuming They Win, Democrats
Must Not Overreach -------------------------------------------------------------------------------- |
|
A 'perfect storm' for Democrats? -------------------------------------------------------------------------------- http://thedailyvoice.com/voice/2008/10/a-perfect-storm-for-democrats-001225.php |
|
News brightens for Democrats
in nation's Senate races -------------------------------------------------------------------------------- |
|
Democrat victories in Texas
races could endanger House Speaker Tom ... -------------------------------------------------------------------------------- |
|
Homeland Union/Christian Democrats
win election -------------------------------------------------------------------------------- |
|
Democrats campaign through
the region -------------------------------------------------------------------------------- |
|
Registration gains favor Democrats -------------------------------------------------------------------------------- |
|
Rep. Mahoney seeks investigation -------------------------------------------------------------------------------- Mahoney, who is married, did not directly
address the ABC report, but said in a written statement, “I
was notified this afternoon about a story that ran on ABC News’
web site reporting allegations about a former employee. While
these allegations are based on hearsay, I believe that my constituents
need a full accounting. As such, I have requested the House ethics
committee to review these allegations. I am confident that when
the facts are presented that I will be vindicated.” |
|
Dow marks biggest-ever point
gain -------------------------------------------------------------------------------- The Dow Jones industrial average ended 936 points higher. The advance was the largest ever during a session on a point basis. The gain was equal to 11.1 percent, the fourth-best day ever on a percentage basis. The Standard & Poor’s 500 index added 11.7 percent and the Nasdaq composite added 11.8 percent. Stocks were buoyant Monday as investors welcomed a global effort to unfreeze the credit market and get money flowing through the system again. Although stocks reacted positively, credit markets barely budged. “We had some good news this morning
from the Fed and the other central banks, but we were also oversold
on an historic level and due for a big bounce,” said Ryan
Detrick, senior technical strategist at Schaeffer’s Investment
Research. |
|
Dow soars 900-plus points -------------------------------------------------------------------------------- The Nasdaq composite index closed up 11.8
percent and the broader Standard & Poor’s 500 index
closed up 11.6 percent from Friday’s close. |
|
Amid turmoil, investors try
gold -------------------------------------------------------------------------------- Amid a financial credit crunch that has left investors anxious about the health of banks, stocks and property markets, many are putting their money into gold. Industry experts say bare shelves at the Rand Refinery are a result of unprecedented demand for the precious metal among investors seeking more stable markets. “I think the sky’s the limit
at the moment,” said Geoff Millet, CEO at the Rand Refinery.
“If you look at the billions of dollars of losses in the
various stock markets and the uncertainty, we’re talking
tons and tons of gold going into these markets.” |
|
House Dems ready new stimulus
deal -------------------------------------------------------------------------------- The package will have some of the same features as one passed earlier by the House but rejected by the Senate, she said, including “aid to the states” on health care, food stamps and unemployment. Last week Pelosi estimated the package
could cost as much as $150 billion. |
|
European nations take money
steps -------------------------------------------------------------------------------- French President Nicolas Sarkozy, who also currently holds the rotating presidency of the European Union, pledged to pour 360 billion euros into the French banking system. Of that, 320 billion euros ($435 billion) will be used to guarantee interbank loans, an effort to improve the flow of credit. In addition, he said another 40 billion euros ($54 billion) will be invested in French banks. The story was similar in Berlin, where Chancellor Angela Merkel pledged 480 billion euros ($653 billion) to support the German banking system, 400 billion in loan guarantees and 80 billion in investments to help recapitalize ailing banks. The British government on Monday said it will make a multibillion investment in three of the country’s major banks to help them through the “first financial crisis of the global age.” The Treasury will pump 37 billion pounds ($63 billion) into the Royal Bank of Scotland, HBOS and Lloyds TSB. In Madrid, the Spanish government said
it will set aside a maximum of 100 billion euros ($134 billion)
to guarantee inter-bank loans, Prime Minister Jose Luis Rodriguez
Zapatero announced. |
|
Britain invests billions in
banks -------------------------------------------------------------------------------- “It is not just important to economists and financial experts. It’s something that matters for every family and business in Britain,” British Prime Minister Gordon Brown explain at a Monday news conference. The banks have been battered in the global financial meltdown and the influx of funds is designed to stabilize their positions and boost the country’s long-term economic outlook, the Treasury said. Brown predicted other governments across
Europe and the United States would take similar action to support
banks in the coming days. |
|
Europe markets open strong;
Asian, Pacific markets mostly higher -------------------------------------------------------------------------------- Just before markets opened, the British Treasury announced a multi-billion dollar investment in three of the country’s largest banks. After the first hour of trading, London’s FTSE 100 was up 5.5 percent. The CAC 40 in Paris had gained 6.8 percent and the XETRA DAX in Frankfurt, Germany, was up more than 6 percent. One economist said he expects European markets to post strong gains on Monday after the leaders of 15 European nations agreed to a wide-ranging plan to shore up troubled banks over the weekend. Asian and Pacific markets were mixed on
Monday, but mostly higher. Some of the markets posted impressive
gains. |
|
In Ohio, Obama talks jobs,
multi-billion dollar economic plan -------------------------------------------------------------------------------- From CNN Senior Political Producer Sasha Johnson
Obama offered specifics on his economic
plan this afternoon. Watch: 'J-O-B-S,' says Obama “If Washington can move quickly to pass a rescue plan for our financial system, there’s no reason we can’t move just as quickly to pass a rescue plan for our middle-class that will create jobs, provide relief, and help homeowners,” Obama told Toledo voters. “If Congress does not act in the coming months, it will be one of the first things I do as President of the United States.” Obama proposed $60 billion worth of measures his campaign said would offer “relief” to homeowners and workers. Many of the ideas build on policies Obama has already proposed and authority the government already has. The campaign suggested many of them could even be passed in a lame duck session of congress after the election. The Democratic nominee wants to: temporarily lift taxes on unemployment benefits; allow investors a penalty free withdrawl of up to $10,000 from their 401k or IRA this year or next year; place a 90 day moratorium on foreclosures for homeowners who are “making a good-faith effort” at meeting payment deadlines; and temporarily offer businesses a $3,000 tax credit for “every net new job” added in the United States in 2009. “It’s a plan that begins with one word that’s on everyone’s mind, and it’s easy to spell, J-O-B-S. Jobs. We’ve got to work on jobs,” he said. John McCain’s campaign told reporters on a Monday afternoon conference call that Obama’s plan would have little impact — adding that the Republican nominee would be unveiling economic proposals of his own on Tuesday. Listen: McCain advisors blast Obama's proposals
— and tell reporters how the Republican nominee plans to
counter them |