Sunday, August 9, 2009
Traditionally has been a state and local effort.
When Arne Duncan was the head of the Chicago public schools, one of the calls he dreaded most came from a certain federal bureaucracy — the Department of Education. “It wasn’t a call about teaching kids to read,” Duncan recalled. “It was a call about a compliance report or something.” Now Duncan sits atop the Education Department — meaning he’s the one making those calls to school systems across the country, hoping to reshape education and the role of the federal government in what traditionally has been a state and local effort...Link
Is Obama Punking Us?.............
“AUGUST is a challenging time to be president,” said Andrew Card, the former Bush White House chief of staff, as he offered unsolicited advice to his successors in a television interview last week. “I think you have to expect the unexpected.” He should know. Thursday was the eighth anniversary of “Bin Laden Determined to Strike in U.S.,” the President’s Daily Brief that his boss ignored while on vacation in Crawford. Aug. 29 marks the fourth anniversary of Hurricane Katrina’s strike on the Louisiana coast, which his boss also ignored while on vacation in Crawford...Link
Favoring White House Plan............
WASHINGTON — The drug industry has authorized its lobbyists to spend as much as $150 million on television commercials supporting President Obama’s health care overhaul, beginning over the August Congressional recess, people briefed on the plans said Saturday...Link
Three more bank failures.........
US authorities have closed three more US regional and local banks, bringing the total of failed US banking institutions to 72 this year, the Federal Deposit Insurance Corporation announced...Link
Saturday, August 8, 2009
More Than $500,000...............
Backers of Republican Rep. Ron Paul’s 2008 presidential bid are working their fundraising magic with prospective Connecticut Senate candidate Peter Schiff. They’ve rallied around Schiff, a libertarian financier and former Paul presidential adviser, helping him raise $528,000 since announcing in mid-July that he was formally exploring a challenge to incumbent Democrat Christopher J. Dodd. And today they are launching a “money bomb”—the type of one-day online fundraising push that helped Paul net more than $6 million in a 24-hour-period in December 2007—that Schiff organizers hope will bring in $200,000 more...Link
Its strength lies solely in faith in the currency.
Money is the most common medium of exchange, representing and functioning as legal tender. But how did man develop a world in which currencies are traded speculatively, where some are pegged against others, where others float – and where money can be exchanged without money being exchanged? Surely this was a gradual process, from cavemen trading saber-toothed tiger pelts to investing in weighted baskets of currencies in real time, the development of modern money contains many interesting steps along the way. The following is what we would humorously refer to as ‘the annotated history of money’...Link
Geithner asks for higher US debt limit........
WASHINGTON, Aug 7 (Reuters) - U.S. Treasury Secretary Timothy Geithner formally requested that Congress raise the $12.1 trillion statutory debt limit on Friday, saying that it could be breached as early as mid-October...Link
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