HIGHEST BIDDER TAKES ALL !

********************* FLASH NEWS *********************

Regulators and Bush Admin. to LOOSEN REGULATIONS in attempt to fix crises !!!??? 

With little notice, regulators at four agencies that oversee the nation’s banks and savings associations on Monday and Tuesday proposed a significant change in accounting rules to bolster banks and encourage widespread industry consolidation by making them more attractive to prospective purchasers. The regulators and the Bush administration have decided to resort to further loosening of the accounting rules to try to get the industry through problems that some experts have attributed in large part to years of deregulation. 

Separately, the Securities and Exchange Commission imposed new limits on short-selling and issued guidelines to help financial institutions prop up money market accounts in light of losses reported by one large fund on Tuesday. 

And on Sunday, the Federal Reserve announced that it had eased restrictions that had prevented regulated companies from transferring money to less regulated and more risky affiliates. That action would, for instance, enable one arm of a giant financial company, like the commercial banks of Bank of America or Citigroup, to move money to another arm, like their investment units. 

The action by the four banking agencies provides more favorable accounting treatment of so-called goodwill, an intangible asset that reflects the difference between the market value and selling price of a bank. The move is similar to a step taken in the midst of the savings-and-loan crisis that helped many institutions in the short run. Over the longer term, that decision increased the overall costs of the bailout after the government took away the goodwill benefits. Under the proposal issued this week, the regulators would permit buyers of banks and thrifts to count some of the goodwill toward meeting their regulatory capital requirements. 

http://current.com/items/89313711_regulators_and_bush_admin_to_loosen_regulations_in_attempt_to_fix_crises

* "Politics is the entertainment branch of industry." - Frank Zappa

HIGHEST BIDDER TAKES ALL !   ... AND YOU'RE NOT !

http://www.youtube.com/watch?v=MmhL8bjL9vc

SORRY, YOUR JOB'S BEEN OUTSOURCED !

Seems like the Democrats and Republicans are two wings of the same party ? Are modern democracies reduced to being but a choice between 2 merely identical political philosophies? One being in the right corner & the other in the far-right ? What is this duopoly, found in most modern democracies, serving for ?  Who is pulling the strings and laughing all the way to the bank while the standard of living of the middle class plummets ?

"Every 10 days $2 billion is removed from the U.S. Treasury and placed in the accounts of Halliburton, Blackwater and all other war profiteers that are getting rich off the misery of Iraqis and Americans. Every 10 minutes an Iraqi civilian is injured or killed in a war that George Bush says will not end until he leaves office. Every 10 hours an American soldier is killed in a war that George Bush says will not end until he leaves office. " / An Alleged "Two Party System" By Ed Ciaccio

"Private interests have looted the treasury, and the administration has sanctioned unrestrained fraud and corruption. We have watched Congress and the press become weak and willing handmaidens to those who would rip apart the fabric and laws of our democratic society. We hunger for the restoration of hope, common sense and purpose." - Jann S. Wenner 10/26/07 RS40

SORRY, YOUR JOB'S BEEN OUTSOURCED ! 
Thousands of manufacturing jobs have moved to countries that skimp on wages and regulations. Now the service sector is also at risk. NAFTA granted strong legal protections to corporate investors while offering only token protection of worker rights and the environment. Predictably, NAFTA produced a 50% increase in the number of factories along the Mexican border, where wages typically run 70 cents to $1 an hour. 
"The real owners are the big wealthy business interests that control things and make all the important decisions. Forget the politicians. The politicians are put there to give you the idea that you have freedom of choice. You don't. You have no choice. You have owners. They own you. They own and control the corporations. They've long since bought and paid for the Senate, the Congress, the state houses, the city halls, the judges. And they own all the big media companies so they control just about all the news and information you get to hear. They spend billions every year lobbying to get what they want. Well we know what they want. They want more for themselves and less for everyone else. They don't want a population of citizens capable of critical thinking. They don't want well informed, well educated people. That's against their interests. They want obedient workers." - George Carlin