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Report: 237 millionaires in Congress

Sat, 07 Nov 2009 22:21:19 GMT

clipped by: bferman
clipper's remarks: Given that there are so many liberal democrats in congress and the whitehouse, can we finally stop demonizing wealthy people?

Clip Source: www.politico.com

As Washington reels from the news of 10.2 percent unemployment, the Center for Responsive Politics is out with a new report describing the wealth of members of Congress.

Among the highlights: Two-hundred-and-thirty-seven members of Congress are millionaires

All told, at least seven lawmakers have net worths greater than $100 million, according to the Center’s 2008 figures.

lawmakers have profited from investments in companies that have received federal bailouts

Among executive branch officials, CRP says the richest is Securities and Exchange Commission Chairwoman Mary L. Schapiro, with a net worth estimated at $26 million.

Secretary of State Hillary Clinton is next, worth an estimated $21 million. President Barack Obama is the sixth-wealthiest, worth about an estimated $4 million

One caveat on those numbers: Federal financial disclosure laws don’t require members to list the value of their personal residences. That information could alter the net worth picture for many lawmakers.

Tags: politics, congress, obama, hillary, milionaire

Kucinich: Why Is It We Have Finite Resources for Health Care but Unlimited Money for War?

Sat, 07 Nov 2009 08:03:01 GMT

clipped by: papananook

Clip Source: www.commondreams.org

WASHINGTON - November 6 - Following a statement on the Floor of the House of Representative, Congressman Dennis Kucinich (D-OH) today made the following statement:

"Why is it we have finite resources for health care but unlimited money for war?

"The inequities in our economy are piling up: trillions for war, trillions for Wall Street and tens of billions for the insurance companies. Banks and other corporations are sitting on piles of cash of taxpayer's money while firing workers, cutting pay and denying small businesses money to survive.

"People are losing their homes, their jobs, their health, their investments, their retirement security; yet there is unlimited money for war, Wall Street and insurance companies, but very little money for jobs on Main Street.

"Unlimited money to blow up things in Iraq and Afghanistan, and relatively little money to build things in the US.

"The Administration may soon bring to Congress a request for an additional $50 billion for war.

Report: 237 millionaires in Congress

Sat, 07 Nov 2009 02:04:07 GMT

clipped by: sahara
clipper's remarks: Senators’ estimated median reportable worth sunk to about $1.79 million from $2.27 million in 2007. The House’s median income was significantly lower and also sank, bottoming out at $622,254 from $724,258 in 2007.

But CRP’s analysis suggests that some lawmakers did well for themselves between 2007 and 2008, even as many Americans lost jobs and saw their savings and their home values plummet.

Senate Minority Leader Mitch McConnell (R-Ky.) gained about $9.2 million. Sen. James Inhofe (R-Okla.) gained about $3 million, Sen. Daniel Inouye (D-Hawaii) had an estimated $2.6 million gain, and Richard Shelby (R-Ala.) gained about $2.8 million.

Some lawmakers have profited from investments in companies that have received federal bailouts; dozens of lawmakers are invested in Wells Fargo, Citigroup, Goldman Sachs and Bank of America.
Vice President Joe Biden has often tagged himself as an original blue collar man. The CRP backs him up, putting his net worth at just $27,000.

Clip Source: www.politico.com

Talk about bad timing.

As Washington reels from the news of 10.2 percent unemployment, the Center for Responsive Politics is out with a new report describing the wealth of members of Congress.

Among the highlights: Two-hundred-and-thirty-seven members of Congress are millionaires. That’s 44 percent of the body – compared to about 1 percent of Americans overall.

CRP says California Republican Rep. Darrell Issa is the richest lawmaker on Capitol Hill, with a net worth estimated at about $251 million. Photo: AP

CRP says California Republican Rep. Darrell Issa is the richest lawmaker on Capitol Hill, with a net worth estimated at about $251 million. Next in line: Rep. Jane Harman (D-Calif.), worth about $244.7 million; Sen. Herb Kohl (D-Wis.), worth about $214.5 million; Sen. Mark Warner (D-Va.), worth about $209.7 million

All told, at least seven lawmakers have net worths greater than $100 million, according to the Center’s 2008 figures.

Is the Economy Recovering? The Curious Case of 1920 vs. 1929

Fri, 06 Nov 2009 22:05:52 GMT

clipped by: merrie
clipper's remarks: The basic questions we need to ask here are:

1. Why do economies recover?

2. Are we recovering?

Q. Why do economies recover?

A. They recover because bad investments made during the bubble are liquidated, valuable capital is no longer being wasted on them, new capital is formed from savings, and profitable enterprises attract new capital to expand. Low real interest rates caused by increased savings encourage borrowing, manufacturers use the capital to make new machines, producers of consumer goods buy them, cash goes through the system, consumers see things are getting better, more consumer goods are produced, and consumers buy them. It has to happen this way or the recovery will fail.

The difficult part of a recovery is ugly. Bankrupt firms need to fail so that valuable capital resources are not wasted on their continuing activities. This means that unemployment rises (10.2% now) and business bankruptcies are high. Trillions of dollars of asset values are wiped out.

Clip Source: www.zerohedge.com

By Jeff Harding
The Daily Capitalist

In order to understand the present state of the U.S. economy you have to understand that there are two things happening at once. For the most part they are in conflict with each other, in that one track can negatively impact the other.

Here are some of the economic data that have come out this week, in no particular order:

PositiveNegative The Institute for Supply Management's manufacturing index rose 3.1 points to 55.7, the third straight month of growth and the highest level since April 2006. A reading above 50 indicates expansion for the sector.Current-dollar personal income decreased $15.5 billion (0.5 percent) in the third quarter, in contrast to an increase of $19.1 billion (0.6 percent) in the second.

The ISM's employment index rose for the first time in 15 months as manufacturers sought to recall workers or enlist temporary help.

Consumer confidence fell to 47.7 in October, from 53.4 in September.

Tags: austrian economics, economic crisis, recovery, fed policy, fiscal stimulus, free market economics, keynesian economics, stimulus, obama administration, krugman

Green.TMC.com - FCC threatens to disrupt Internet free market: FCC threatens to disrupt Internet fre

Thu, 05 Nov 2009 16:06:59 GMT

clipped by: heartlandinstitute
clipper's remarks: Internet/Op-Ed

Clip Source: green.tmcnet.com

EDITORIAL: FCC threatens to disrupt Internet free market: FCC threatens to disrupt Internet free market

Tags: heartland institute, telecom, jim lakely

How Risky Is It To Buy Commercial Property? | quizilla

Thu, 05 Nov 2009 15:34:40 GMT

clipped by: santosjr06
clipper's remarks: Great day of the week! Today's subject will respond the topic "Is It Risky To Buy Commercial Property?". As with other investments, buying a commercial property has its own share of risks. However, if you know what you are doing, you can each time get by the danger associated with it. This is Maybe not a recommended investing for beginners.

Clip Source: quizilla.teennick.com

How Risky Is It To Buy Commercial Property?

Great day of the week! Today's subject will respond the topic "Is It Risky To Buy Commercial Property?".

As with other investments, buying a commercial property has its own share of risks. However, if you know what you are doing, you can each time get by the danger associated with it. This is Maybe not a recommended investing for beginners. You can firstly try your hands with lesser deals like a single family residence or a 2-3 doors investment apartment units.

So at what time you acquire adequate experience and confidence in smaller residential investment property, you can kick off to try out and buy commercial property. The profit promise is huge and you can diminish your risks if you know how to do it very well.

Tags: buy commercial property, investment apartment, investment course, buying investment property, investing for beginners

Millionaire Mindset Habit #14: Rich People Manage Their Money Well

Thu, 05 Nov 2009 14:26:35 GMT

clipped by: nickel77
clipper's remarks: that's no surprise

Clip Source: bewealthminded.com

The person with a millionaire mindset knows that managing money well is an absolute. They realize that what has allowed them to become wealthy is their ability to use and manage other people’s money and their own. The millionaire will move their money in and out of investments and other vehicles for creating wealth so managing money is critical.

Tags: manage money, millionaire mindset

Can Stock Trading Software Make You Money?

Thu, 05 Nov 2009 11:09:52 GMT

clipped by: pennyinvest
clipper's remarks: Penny stocks business is different from other types of business. It is this business where the investor can start its business with low investment. Therefore it is easy to start it and you face no financial problem to arrange huge money to trade. To discover more about it, please visit Penny Stocks

Clip Source: nebulastocks.ning.com

Can Stock Trading Software Make You Money?

There are two types of stock trading software packages available. A single function package supplies just one function for example real-time penny stocks quotes. There are also all-in-one packages that feature every function that a penny stocks trader should know so as to reach a meticulous investing decision.

Whether you are investing in penny stocks, or bonds, options or commodities, you can rely on software out there to help you with your investments.

Tags: pennystock, pennystocks, pennystocksinvesting

Tags: penny stocks, penny stock

BUFFETT'S BET ON TRAINS

Thu, 05 Nov 2009 03:08:12 GMT

clipped by: ellington

Clip Source: roomfordebate.blogs.nytimes.com

Buffett’s Bet on Trains

Warren Buffett is betting big on railroads. He started buying Burlington Northern Santa Fe in 2006 and then made investments in Union Pacific and Norfolk Southern. On Tuesday, his company, Berkshire Hathaway, announced the purchase of the 77 percent of Burlington Northern it didn’t already own for about $44 billion (along with the assumption of $10 billion in debt). It is Berkshire’s largest acquisition.

It has been a long time since railroads were central to America’s booms, bubbles and busts. What does Mr. Buffett’s investment in trains say about prospects for the economy? How can his role be put in historical perspective?

Updated, Nov. 4, 11:25 a.m. | Joining our discussion this morning are: T.J. Stiles, a biographer of Cornelius Vanderbilt; Jean Strouse, author of “Morgan, American Financier”; and Charles R. Morris, a former banker and the author of “The Sages: Warren Buffett, George Soros, Paul Volcker and the Maelstrom of Markets.”

Tags: trains, buffett's, railroads, boom, bust

East Valley Tribune - FCC threatens to disrupt Web free market

Wed, 04 Nov 2009 15:41:37 GMT

clipped by: heartlandinstitute
clipper's remarks: Newspaper/Quote

Clip Source: www.eastvalleytribune.com

FCC threatens to disrupt Web free market

"The investments and technological breakthroughs that made the digital era possible were the result of risk-taking in an environment defined by private property rights and the freedom to innovate," wrote James G. Lakely, a former journalist who is co-director of the Center on the Digital Economy for the Heartland Institute, a free-market think tank. "If the products of that market process are separated from the property rights and freedom to innovate that made them possible, they soon would no longer be produced, the 'pie' would shrink, and we would all be less happy and less free."

Tags: heartland institute, telecom, jim lakely

Nicolas Cage Sues Business Manager Over Financial Ruin

Tue, 03 Nov 2009 23:47:43 GMT

clipped by: GossipandGab
clipper's remarks: I can't help but think Nicholas should have been paying a bit more attention!

Clip Source: gossipandgab.com

Nicolas Cage Sues Business Manager Over Financial Ruin

Oscar-winning actor Nicolas Cage is suing his former business manager, Samuel Levin, for leading him into “financial ruin” through bad investments and mismanagement of his assets. Cage can’t seriously be labeled as ‘broke’, since he reportedly has a net worth of $38 million, but he is apparently in the midst of a serious financial crisis.

Tags: entertainment, news, movies, film, celebrity, celebrities, nicholas cage broke, nicolas cage, nicolas cage bankrupt, nicolas cage broke

Flanita - Flanita.com

Tue, 03 Nov 2009 14:11:47 GMT

clipped by: stfmonitor
clipper's remarks: Flanita - Flanita.com
http://www.stfmonitor.com/?a=details&lid=2120

Clip Source: flanita.com

Flanita Investments.

Was developed for private investors based on commercial transactions with gold and securities, use of investment and exchange instruments. Flanita will help you to gain from putting your money into various funds and businesses on the global level. We pursue a goal to ensure high profits for our investors by using ample opportunities of differential investments. Moreover our ability of making profit is backed by real investments from the actual market.

Tags: flanita.com

Gold Investment

Tue, 03 Nov 2009 06:11:53 GMT

clipped by: asiahandbag
clipper's remarks: Gold Investment

Clip Source: www.bestgoldinvestments.com

Tags: gold investment

Goldman Sachs Banksters Knew and Bet on Meltdown

Sun, 01 Nov 2009 22:18:25 GMT

clipped by: blueridge
clipper's remarks: Filthy lucre on the backs of investors and then got Bailout money from taxpayers too, with the help of their "insider" (and Treasury Secretary) Timothy Geithner. (It helps to have pals in high places.--see Goldman-Geithner connections)

Clip Source: www.wvgazette.com

How Goldman secretly bet on the housing crash

WASHINGTON -- In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting.

Goldman's sales and its clandestine wagers, completed at the brink of the housing market meltdown, enabled one of the nation's premier investment banks to pass most of its potential losses to others before a flood of mortgage loan defaults staggered the U.S. and global economies.

Only later did investors discover that what Goldman promoted as triple-A investments were closer to junk.

a five-month McClatchy Newspapers investigation has found that Goldman's failure to disclose that it made secret, exotic bets on an imminent housing crash may have violated securities laws.

Lloyd Blankfein, Goldman's chairman and chief executive, declined to be interviewed

Tags: goldman sachs, banks, meltdown, housing crisis, economy, bailout

Sun Life Financial: Financial Planning Company

Fri, 30 Oct 2009 21:05:17 GMT

clipped by: Prod_Kyle
clipper's remarks: Financial services information from Sun Life Financial, a financial planning company

Clip Source: www.sunlife.com

Financial planning and advice

You can’t always predict the road you take through life. But a solid financial plan will help ensure that unforeseen events won’t prevent you from reaching your destination. Whether you’re looking for a secure retirement, education for your children, estate planning or growing your investments, Sun Life wants you to reach your financial goals. In fact, it’s our mission to help our clients achieve lifetime financial security.

Sun Life has been working with customers for almost 140 years – experience you can benefit from. We use this global insight to offer a diverse range of individual and group life insurance, health and dental insurance, investments, retirement planning and savings products, including pension plans, annuities, disability and medical plans and anything else you need to feel confident about your financial future.

Tags: sun life, financial planning company, insurance