The Last Of The Millenniums

Just because it always has been, doesn't mean it always will be

Archive for the day “January 8, 2013”

One set of rules for us – One set of rules for them – ‘Rescued by a Bailout, A.I.G. May Sue Its Savior’

AIG

‘Fresh from paying back a $182 billion bailout, the American International Group Inc. has been running a nationwide advertising campaign with the tagline “Thank you America.”

‘Behind the scenes, the restored insurance company is weighing whether to tell the government agencies that rescued it during the financial crisis: thanks, but you cheated our shareholders’.

‘The board of A.I.G. will meet on Wednesday to consider joining a $25 billion shareholder lawsuit against the government, court records show’.

‘The lawsuit does not argue that government help was not needed’.

‘It contends that the onerous nature of the rescue — the taking of what became a 92 percent stake in the company, the deal’s high interest rates and the funneling of billions to the insurer’s Wall Street clients — deprived shareholders of tens of billions of dollars and violated the Fifth Amendment, which prohibits the taking of private property for “public use, without just compensation.”

‘Maurice R. Greenberg, A.I.G.’s former chief executive, who remains a major investor in the company, filed the lawsuit in 2011 on behalf of fellow shareholders. He has since urged A.I.G. to join the case, a move that could nudge the government into settlement talks’.

‘The choice is not a simple one for the insurer. Its board members, most of whom joined after the bailout, owe a duty to shareholders to consider the lawsuit. If the board does not give careful consideration to the case, Mr. Greenberg could challenge its decision to abstain’.

‘Should Mr. Greenberg snare a major settlement without A.I.G., the company could face additional lawsuits from other shareholders. Suing the government would not only placate the 87-year-old former chief, but would put A.I.G. in line for a potential payout’.

‘Some government officials are already upset with the company for even seriously entertaining the lawsuit, people briefed on the matter said. The people, who spoke on the condition of anonymity, noted that without the bailout, A.I.G. shareholders would have fared far worse in bankruptcy’.

“On the one hand, from a corporate governance perspective, it appears they’re being extra cautious and careful,” said Frank Partnoy, a former banker who is now a professor of law and finance at the University of San Diego School of Law. “On the other hand, it’s a slap in the face to the taxpayer and the government.”

‘For its part, A.I.G. has seized on the significance and complexity of the case, which is filed in both New York and Washington’.

‘A federal judge in New York dismissed the case, while the Washington court allowed it to proceed’.
From : http://dealbook.nytimes.com/2013/01/07/rescued-by-a-bailout-a-i-g-may-sue-its-savior/

 

Pure Republican Obstructionism – ‘FLASHBACK: GOP Senators Praised Chuck Hagel’s Statesmanship, Foreign Policy Expertise’

mccain obstructs

Anything, ANYTHING to just obstruct.

‘In 2006, while he was preparing to run for president, McCain was asked whether he’d consider Hagel for a cabinet post. “I’d be honored to have Chuck with me in any capacity,” he said. “He’d make a great secretary of state.”

‘Two years later, McCain reaffirmed that position after securing the Republican nomination, telling The Associated Press that Hagel is a “respected leader in America” who “served his country admirably, with honor and distinction.”
@ : http://tpmdc.talkingpointsmemo.com/2013/01/republican-senators-praise-chuck-hagel.php

And now……

“I have serious concerns about positions Senator Hagel has taken on a range of critical national security issues in recent years”.
@ : http://www.mccain.senate.gov/public/index.cfm?FuseAction=PressOffice.PressReleases&ContentRecord_id=16503079-cb46-3a0a-a941-12eb7e0eb559

FOX lies #2 – ‘UPDATED: Fox Deceptively Crops 2008 Obama Speech To Falsely Suggest Assault Weapons Hypocrisy’

fox lies3

Keep lying and dumbing down your audience Fox.

‘During the January 7 edition of America’s Newsroom, anchor Bill Hemmer claimed that a report that the White House is considering a comprehensive gun violence prevention package, which includes reinstituting the assault weapons ban, “comes in stark contrast to President Obama’s position back in 2008’.

‘After airing a clip of Obama telling a campaign audience that he believes in the Second Amendment and won’t confiscate firearms, Hemmer said that those were comments Obama made when he “was trying to get elected”:

(What FOX says Obama said)
OBAMA (VIDEO CLIP): “So I don’t want any misunderstanding. When ya’ll go home and you’re talking to your buddies, and they say, “He wants to take my gun away,” you’ve heard it here, I’m on television so everybody knows it, I believe in the Second Amendment, I believe in people’s lawful right to bear arms. I will not take your shotgun away, I will not take your rifle away, I won’t take your handgun away”.

And what Obama actually said :

OBAMA: “I just want to be absolutely clear, so I don’t want any misunderstanding. When ya’ll go home and you’re talking to your buddies, and they say, “He wants to take my gun away,” you’ve heard it here, I’m on television so everybody knows it, I believe in the Second Amendment, I believe in people’s lawful right to bear arms. I will not take your shotgun away, I will not take your rifle away, I won’t take your handgun away… There are some common-sense gun safety laws that I believe in. But I am not going to take your guns away. So if you want to find an excuse not to vote for me, don’t use that one”.
From : http://mediamatters.org/blog/2013/01/07/fox-deceptively-crops-2008-obama-speech-to-fals/192067

 

‘First Annual “Gun Appreciation Day” Scheduled’

gun control appreciation day

Speechless.

‘The first holiday that’s all about guns will take place a little over a month after Sandy Hook’.

‘A political ad agency is putting together the first ever Gun Appreciation Day” on January 19, two days before the inauguration and a little over a month after the mass shooting at Sandy Hook Elementary School’.

‘Political Media’s CEO, Larry Ward, told BuzzFeed the idea originated with him. “We decided to run with this last week and put together a wide and growing group of conservative organizations, publications and businesses,” Ward said. The groups involved include the Second Amendment Foundation, the Committee to Draft Judge Andrew Napolitano, and Revolution PAC, a super PAC that supported Ron Paul’s presidential candidacy’.

“Typically we work behind the scnes, we’re an ad agency that works on the right,” Ward said. “This was a special case because I wanted to not have just one group spearhead it like the NRA.”
From : http://www.buzzfeed.com/rosiegray/first-annual-gun-appreciation-day-scheduled

 

The Takers and the Makers – ‘Fast-Food Worker Hours Cut, New Health Care Law Blamed’

wendy's

Let’s just make poor people even poorer rather then even try to part of the solution.

‘A fast-food chain is slashing employee hours so franchise owners don’t have to pay health benefits. Around 100 local Wendy’s workers have learned their hours are being cut. A spokesperson says a new health care law is to blame’.

‘The company has announced that all non-management positions will have their hours reduced to 28 a week’.

‘Gary Burdette, Vice President of Operations for the local franchise, says the cuts are coming because the new Affordable Health Care Act requires employers to offer health insurance to employees working 32-38 hours a week’.

‘Under the current law they are not considered full time and that as a small business owner, he can’t afford to stay in operation and pay for everyone’s health insurance’.

‘There are 11 Wendy’s restaurants in the metro’.

‘Burdette says the decision affects around 100 employees. It was a tough one and he understands why people are upset, but the hour reduction is effective in two weeks for all non-management. Management employees will continue to have benefits as they are officially full time’.
From : http://www.wowt.com/home/headlines/Fast-Food-Worker-Hours-Cut—185827392.html

 

 

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