Big Jim Donovan!

More Wit And Wisdom From The Boy Who Would (Still) Be A DJ

Posts Tagged “Henry Paulson”

Nov 12 2008

Banking On Borrowing Bailout Bucks?

Posted by Big Jim in What's So Funny About The News?

Federal bank regulators are issuing new guidelines to banks designed to encourage them to continue lending practices to creditworthy customers–an effort to make them aware that the billions in bailout money provided to them is there to help struggling borrowers and improve the overall economy. In other words, they ought to rethink the week-long Carribean cruise bonus for the fantasy football league…
Treasury Secretary Henry Paulson^W announced that the $700 billion government bailout plan will not be used to buy troubled assets–like mortgages–and would instead turn to financial markets supplying consumer credit for products like credit cards, auto loans and student loans, with Paulson stating that supporting this market is vital for lending and growth. This change could be due to plans by mortgages lenders to offer their own relief to homeowners at risk of foreclosure, or one too many holes in the dike for one litte boy’s fingers…
House Speaker Nancy Pelosi^W is leading the congressional charge to provide financial help for the auto industry, who are struggling with the double burden of poor sales and tighter credit. Some lawmakers worry that extending help to individual companies opens the floodgates to any and all comers–sorta like the argument, "if you help one poor starving person, you’ve got to help them all"…
A Connecticut judge’s ruling this morning has cleared the way for the state to legalize same-sex marriages, with several couples planning ceremonies within hours in New Haven. This was just the city where the court decision was handed down–Rosie O'Donnell^W isn’t planning to relocate here…
A federal task force charged with dealing with flight delay policies has approved some voluntary guidelines but offer no fixed limit that would permit passengers to leave planes stranded on tarmacs. I wouldn’t worry–airlines who are already charging for checked luggage, aisle seats, meals and carry-on pets will be more than happy to do something for their customers out of the goodness of their hearts…
A new Associated Press^W poll has found that the public wants the tax cuts promised during presidential campaign, but seem to be willing to wait while president-elect Obama works to tackle the economy first. I’m gonna guess that Joe the Plumber wasn’t part of this study–but I don’t think he’s taking that many calls these days…

Tags: airline, Barack Obama, financial bailout, gay marriage, Henry Paulson, Nancy Pelosi

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Sep 20 2008

The Trillion Dollar Solution

Posted by Big Jim in What's So Funny About The News?

Congressional leaders say they will act quickly on a plan from Fed chairman Ben Bernanke and Treasury Secretary Henry Paulson to buy up bad mortgages and other investments that are putting banks and other financial institutions in danger of collapse. Of course, now that the price tag is somewhere just south of a trillion bucks, that seems about as smart a re-election move as admitting you’re a distant relative of Osama bin Laden…
Nearly a week after Hurricane Ike struck south Texas, Houston is beginning to return to normal with electricity restored to nearly a million homes and traffic returning to normal–but Galveston Island remains closed and residents ordered to stay away while officials struggle to get just basic services restored. I can’t help but think of that classic Glen Campbell song: "Galveston, oh Galveston…I am so afraid my house is floating…" (watch out–audio is old and scratchy!)
The American Medical Association and the American Academy Of Pediatrics, along with twenty other medical groups, say public confidence in vaccine safety must be restored , amid reports of measles outbreaks at a 10-year high and a quarter of all toddlers not sufficiently immunized. The primary reason is that some parents fear that they cause autism–which is about as likely (to them, I’m sure) that they also cause homosexuality…
A new poll has found that support for a California constitutional amendment to ban same-sex marriage is fading and now trails by a 17-point margin. I believe there are two major reasons–one, that Ellen DeGeneres has done it, and Anne Heche hasn’t…
Federal law enforcement officials say former congressman Mark Foley likely won’t face charges for all those inappropriate emails and instant messages he sent to underaged pages. That may seem like another politician getting a break from the law, but I think the fact that Foley is now a political zero has probably punished him worse than any fine or jail time…
New Jersey’s attorney general has ordered an end to plea-bargains for teenagers ticketed for driving offenses, saying it undermines the state’s graduated license program–which mandates an improvement program for those offenders before a standard license is issued. It could have unforseen economic consequences–too many teens without cars could wipe out the Paramus Mall…