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Does Your Bank Need Help? Don’t Tell Geithner Or You’re Fired!

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Timothy Geithner, the man who couldn’t figure out TurboTax, made a warning on Sunday to all bank boards and CEOs. If they’re having trouble, and they ask for help, then he just might have to fire them.

“If in the future, banks need exceptional assistance in order to get through this, then we will make sure that assistance comes,” while ensuring that taxpayers are protected, Mr. Geithner said Sunday in an interview on “Face the Nation” on CBS. “Where that requires a change in management and the board, then we will do that.”

Isn’t this like the confused kid in class being told that if he asks too many questions he’s going to be held back? Let’s not shout threats to banks that make them want to cook the books to keep their boards and CEOs in place.

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Binghamton Shooter Had Just Been Laid Off From IBM

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Binghamton, NY is a quiet, blue collar college town, where a gunman committed mass murder today at the American Civic Association– a center for immigrants. 41 year-old Jiverly Voon, who killed himself and at least 13 others, had just been laid off from IBM. He was armed with a high-powered rifle, a 9mm handgun, and a knife. Voon held over 40 people hostage in the center during the horrifying attack.

Voon backed his car up to the rear door of the center, which assists immigrants in assimilating to America and on track to citizenship. He blocked the rear door before coming through the front on his rampage. He allegedly burst into the civic center wearing a bright green nylon jacket and dark-rimmed glasses and promptly shot two receptionists. One woman died, but the second woman pretended to be dead, and later crawled under a desk as Voong headed for another room, and called police.

Over 25 people barricaded themselves in a boiler room, and had to be reassured numerous times before they came out. At least 4 people are injured in the tight-knit community. There are reportedly 37 survivors. The center was full of people practicing for their citizenship exams.

Voon reportedly had lived in the area first in the early nineties, then moved to LA County until 2005 when he returned to the community. The immigrants that the center serves are placed there, in a 5 year process on the way to citizenship. Voon, it is said, was no stranger to the center, he had been there many times. All the teachers and workers at the center, except for 3, are volunteers.

Binghamton has been hit hard by the growing economic recession. IBM was actually founded nearby, and at it’s zenith in the ’80’s, employed around 14,000 people in the area. It now employs around 1200. Developing…

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Launch Window Now Open For North Korean Missile

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North Korea seems hellbent on launching what they say is a satellite; it’s fueled, on the launch pad, and could be fired at any time. World leaders have said that would violate a United Nations resolution and that evidence suggests North Korea is instead planning to test a Taepodong-2 missile capable of reaching Alaska. North Korea says it has the ability arm the missile with a nuke.

Japan has ordered any North Korean object entering its airspace to be shot down and South Korea vows to destroy it. Obama, trying to remain cool while in Europe says that Kim Jong Il “is not being helpful.” Hillary Clinton is with Obama on his G-20 tour, having left Joe Biden at home to make sure his $3 trillion plus budget passed. Appeaseth Obama:

“Should North Korea decide to take this action,” Obama said today, “we will work with all interested parties in the international community to take appropriate steps — to let North Korea know that it can’t threaten the safety and security of other countries with impunity.”

Obama told South Korean president Lee Myung Bak that he won’t allow North Korea to drive a wedge between them, a U.S. official said yesterday on condition of anonymity. Obama praised Lee for exercising restraint in dealing with provocations from the North. Both leaders agreed to respond to the launch by registering a firm protest with the UN. Woo. Lil’ Kim is surely shaking in his marching boots.

It doesn’t sound like Kim is afraid of UN protests. North Korea’s military this week vowed a “thunderbolt of revenge” if Japanese defense forces try to shoot down the rocket, adding to an earlier threat to wage war against Japan if it tried to intercept the missile. Japanese Defense Minister Yasukazu Hamada deployed guided-missile units around Tokyo on March 27 and ordered the interception of any North Korean object entering his country’s airspace.

This story is continuously developing, and Right Soup is monitoring the situation closely.

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Blago Indicted!

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Disgraced Gov. Rod Blagojevich, who is on vacation at DISNEYWORLD, was indicted today on a host of federal corruption charges dating back to 2002 even before he was sworn in as governor. Several aides were also charged in the 75-page indictment filed late Thursday afternoon in federal court.

The U.S. Attorney’s Office said in a statement that:

“Since 2002, even before he was first elected governor … Governor Rod Blagojevich and a circle of his closest aides … engaged in a scheme to deprive the people of Illinois of honest government.”

Blago was indicted on 16 felony counts, including racketeering conspiracy, wire fraud, extortion conspiracy, attempted extortion and making false statements to federal agents. He allegedly abused his office by seeking money, campaign contributions, and employment for himself and others, in exchange for official actions, including trying to leverage his authority to appoint a United States senator, U.S. Attorney Patrick J. Fitzgerald said in a statement.

Blago responded:

“I’m saddened and hurt but I am not surprised by the indictment. I am innocent,” Blagojevich said in a statement. “I now will fight in the courts to clear my name.”

Here are the charges and possible sentences and fines: after the jump Click Here to Continue Reading »

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Obama Looking Isolated At G-20

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Europe has basically banded together en masse to reject Obama’s crazy spending ideas and schemes. We’re getting spanked by socialists. The iPod gift to the queen with HIS SPEECHES ON IT wasn’t such a great idea, either. Here’s the text of the official end communique from today. Barry’s about to make his address before the foreign press, (late as usual). Here’s Prime Minister Gordon Brown announcing “The New World Order Is Emerging At The G-20”.

And here’s Obama putting his spin on the conference:

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The Rush Is On Again With The Budget And McCain’s Amendment

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Democrats are at it again, and the Senate, who clearly dislikes reading, are rushing to stuff down taxpayers’ throats a deficit-exploding $3.5 trillion budget that represents the largest tax increase in American history. Despite passing a “no reconciliation” promise, what really matters is what comes out of the conference committee at the end of the process. The GOP knows that the Dems are likely to still sneak in reconciliation instructions at the end, and I don’t trust them not to either. These instructions would allow the Dems to push through their massive spending by only 51 votes, vs. the 60 needed normally.

The GOP is fighting valiantly; John McCain is leading McCain Alternative, which is his amendment to the bill. Republicans are fighting for more for the military, which the Dems only give 8% that goes up to 10% in 2 years. The GOP budget seeks to reduce federal spending for the short and the long term. By 2019 interest on the debt under the Democratic budget will exceed what we spend on defense.

The McCain/GOP alternative caps spending at current levels, only increasing with inflation except for veterans and the military. It reduces the debt within 10 years rather than increasing it enormously. It extends the Bush tax cuts…this is the wrong time to raise middle class taxes! Sadly, the GOP is having to use the amendment process to try and steer and limit the Democrat’s spending grab. There are over 100 proposed amendments right now, and the Dems are trying to subject as many of them as they can to a voice vote.

The Dems are still playing smoke and mirrors with the projected deficit in 10 years, by assuming ridiculously strong GDP growth. They say the deficits in both proposed budgets would be very close by that time. If you believe that one…

Contact your Senators and tell them to support the GOP alternative budget, the McCain Amendment. We’ve already spent trillions, and the administration wants it all. Americans are having to cap their spending, and government must also. As fights over our future go, this is the big one. The vote will likely come this evening.

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AP Continues To Slant Truth, Smear Republicans With Cap & Trade Lies

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At least not all supposed journalistic entities still pretend to not be soaked in liberalism. The Associated Press (AP), however, does still wear its mask. The front page of Yahoo! boasts this headline link:

Republicans propose big tax cuts and curbs on spending

Instead of getting details on the GOP proposal for a flat tax, the link leads to an article that opens with this paragraph:

The House took up a budget plan Wednesday that would allow Democrats to enact health care legislation more easily while Senate Republicans won a key vote to slow the advance of global warming legislation.

Ahh, so apparently the wonderful, benevolent, all-loved House Democrats fought for the poor, tired, and weak to receive health care while the big, mean, evil GOP spent their hours fighting for smog and acid rain with pro-global warming legislation. If the AP prints it, it must be true, right?

That win by the Senate Republicans was a victory for all Americans as it slowed the progress of Barack Obama’s economy destroying Cap & Trade Scheme. The C&T would enact a national tax upon every single American.

This isn’t speculation, it is a fact:

Peter Orszag — now Mr. Obama’s budget director — told Congress last year that “Those [energy] price increases are essential to the success of a cap-and-trade program.”

Hit hardest would be the “95% of working families” Mr. Obama keeps mentioning, usually omitting that his no-new-taxes pledge comes with the caveat “unless you use energy.” Putting a price on carbon is regressive by definition because poor and middle-income households spend more of their paychecks on things like gas to drive to work, groceries or home heating.

The Congressional Budget Office — Mr. Orszag’s former roost — estimates that the price hikes from a 15% cut in emissions would cost the average household in the bottom-income quintile about 3.3% of its after-tax income every year. That’s about $680, not including the costs of reduced employment and output. The three middle quintiles would see their paychecks cut between $880 and $1,500, or 2.9% to 2.7% of income. The rich would pay 1.7%. Cap and trade is the ideal policy for every Beltway analyst who thinks the tax code is too progressive (all five of them).

Despite Obama’s campaign promise to never raise taxes on the middle class this Cap & Trade would do exactly that and more. Only Obama’s voters who live in trees and eat dirt would be untouched by this terrible plan.

Energy alternatives? Yes! Obama’s Cap & Trade tax on America? No!

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More Details On GOP Budget Alternative – 10% Tax Rate

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Following up on Obama’s criticism that they’ve become the “Party of No,” the GOP has released its 2010 Budget alternative plan. The details are thin at the moment as it’s still rolling out, but take a look at the highlights including a drastically cut tax rate: 10% for the first $100K.

The plan unveiled Wednesday by Wisconsin GOP Rep. Paul Ryan also freezes overall spending on domestic programs and repeals most of the spending in President Barack Obama’s recently passed economic stimulus bill.

Despite the spending reductions, the plan projects permanent deficits exceeding $500 billion into the future, fueled largely by big tax cuts.

The GOP plan would offer couples the option of a 10 percent rate on the first $100,000 of income, with a 25 percent rate thereafter.

Let me see which is lower: 10% or 28% (the rate when first hitting $100K). Well the calculator says 10%. More details to follow…

Wall Street Journal provides an in-depth review of the differences.

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AG Holder To Void Ex-Senator Ted Stevens Convictions

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Breaking news this morning via the NPR that U.S. Attorney General Eric Holder will void the convictions against former Alaska senator Ted Stevens:

The Justice Department will drop all charges against former Sen. Ted Stevens of Alaska, NPR has learned.

A jury convicted Stevens last fall of seven counts of lying on his Senate disclosure form in order to conceal $250,000 in gifts from an oil industry executive and other friends. Stevens was the longest-serving Republican in the Senate, however, he lost his bid for an eighth full term in office just days after he was convicted. Since then, charges of prosecutorial misconduct have delayed his sentencing and prompted defense motions for a new trial.

According to Justice Department officials, U.S. Attorney General Eric Holder has decided to drop the case against Stevens rather than continue to defend the conviction in the face of persistent problems stemming from the actions of prosecutors…

Justice Department officials say they will withdraw their opposition to the defense motion for a new trial and will dismiss the indictment — in effect voiding the Stevens conviction.

We’ll continue to keep you posted on the details as more information becomes available. NPR reports now that Holder is set to inform Stevens’ lawyers sometime this morning.

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Kathleen Sebelius Admits She Has A Tax Problem Too.

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Kathleen Sebelius, Obama’s late-term abortion cheerleader heading Health and Human Services, admitted today that she has a wee little tax problem, like a growing number of her homies in Obama’s administration. Her unpaid tab wasn’t quite as big as Geithner or Daschle’s, but it seems she has to pay $7,000 in back taxes.

Isn’t admitting you have a problem supposed to be the first step towards recovery? Obama’s gang needs some legal rehab, and these hypocrites should be spending ALL of their time working their “recovery programs,” not running our country with ridiculous ones.

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