2Small2Succeed Report

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Chairman of OneUnited, bank in Rep. Maxine Waters case, faced personal trouble

Washington Post Staff Writer
Wednesday, August 11, 2010; 6:59 PM

As chairman and chief executive of OneUnited Bank, Kevin L. Cohee sought to build a company that was about more than just money. He promoted the bank, now at the center of a House ethics case against Rep. Maxine Waters (D-Calif.), as a uniquely responsible investor in impoverished minority communities and urged prospective clients to live modestly.

Customers ought to focus on “real connections, real relationships,” Cohee urges in a recording on the bank’s Web site. Avoid “people who want to be with you based on the things that you have.”

“Do you really need a Mercedes-Benz?” he asks. “Houses don’t make you, cars don’t ma….read more Washington Post

Rod Blagojevich jury deadlocked on some charges. Now what?

The jury weighing 24 criminal charges in the corruption trial against former Illinois Gov. Rod Blagojevich is deadlocked. That doesn’t necessarily mean a hung jury.

By Mark Guarino, Staff Writer / August 11, 2010

Chicago
The jury deliberating the fate of Rod Blagojevich is deadlocked on some of the 24 counts facing the former Illinois governor in his federal corruption trial.

US District Judge James Zagel received a note from jurors Wednesday, the 11th day of deliberations, saying they had made “a reasonable attempt” to reach a unanimous decision on all counts but could not make a consensus on some.

Judge Zagel called the jury “exceptionally disciplined” and said he would tell the jury it was “permissible” for them to return verdicts on some counts and not on others.

On late Wednesday afternoon, the judge said he wants to consult with the jurors before deciding what happens next. He added that the note did not make it clear regarding which counts the jury count …read more CSMonitor

U.S. Plans More Aid for Jobless Homeowners

By DAVID STREITFELD

Published: August 11, 2010

In an acknowledgment that the foreclosure crisis is far from over, the Obama administration on Wednesday pumped $3 billion into programs intended to stop the unemployed from losing their homes.

The housing market, which usually helps lead the country out of a recession, is this time helping hold the recovery back. Interest rates are at record lows, but too few can afford to buy or refinance. Unemployed homeowners who live in communities where values have fallen sharply are often unable to sell. Their foreclosures weaken neighborhoods and create a vicious circle by further undermining the market….read more NYtimes.com

UPDATE: US Stocks Fall Broadly On Fears About Global Economy

(Updates with additional company information, beginning in the ninth paragraph.)

    By Donna Kardos Yesalavich    Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)–Blue-chip heavyweights Alcoa, Boeing and Caterpillar led broad declines in U.S. stocks Wednesday as signs of weakening growth in China exacerbated fears about a global economic slowdown.

The Dow Jones Industrial Average tumbled 265.42 points, or 2.49%, to 10378.83, in its biggest one-day point drop since June 29. Wednesday marked the 11th time the Dow fell more than 200 points in a day this year, and the decline put it into negative territory for the year. The measure is now off 0.47% for 2010.

All 30 of the Dow’s components fell, with Alcoa, Boeing and Caterpillar hit the hardest. Alcoa dropped 69 cents, or 6.1%, to 10.66, while Boeing fell 3.02, or 4.4%, to 65.60, and Caterpillar declined 2.71, or 3.8%, to 68.71.

The Nasdaq Composite slid 68.54, or 3.01%, to 2208.63. The Standard & Poor’s 500 index fell 31.59, or 2.82%, to 1089.47. For both measures, Wednesday marked the biggest one-day drop since July 16.

Just five of the S&P 500’s components managed to end Wednesday’s session in positive territory, including Macy’s, which climbed 1.14, or 5.9%, to 20.52. The department-store operator’s fiscal second-quarter earnings soared, topping analysts’ expectations. Macy’s also raised its earnings forecast for the year.

The declines elsewhere came as a string of economic reports from China, including retail sales and industrial output, indicated the nation’s economic growth is slowing. China is a big source of demand for U.S. companies, especially in the materials sector. In turn, investors are concerned about its impact on the U.S. economy, especially after the U.S. Federal Reserve noted Tuesday the U.S. economic recovery is “more modest” than anticipated.

Following the market’s strong recovery from the March 2009 lows, it is now “into the period where you go, ‘uh oh, is it over, are we going to double dip?'” said John Schonberg, portfolio manager at Columbia Management…read more WSJ

Townhall Latest Breaking News

Michelle Malkin

House Speaker Nancy Pelosi deserves a swift rap on the knuckles for hiding underneath the desk of the American schoolteacher. In a cynical ploy to evade accountability for the Democrats’ continued fiscal recklessness, Pelosi accused opponents of the $26 billion public employee union bailout bill of “demeaning” teachers — and nurses, police officers and firefighters. Pelosi took great offense at Republican leaders who called out the Big Labor special interests pushing the emergency summer rescue. But if they walk, talk, spend and lobby like special interests, let’s call them what they are…read more Townhall.com

Why Own Guns?

Aug 10th, 2010 | By Mitchell Rich | Category: Featured, Opinion

Over the past few months, I have been running into more articles where gun rights opponents are using questionable tactics to argue against gun ownership.  At first, I took the approach of discussing their points specifically and have come to realize that I was making the same mistake they were – discussing the right to bear arms as the basic principle instead of understanding the fundamental reasoning…read more Conservative Daily News

Senate will reconvene to pass border security measure

By Michael O’Brien – 08/11/10 12:48 PM ET

The Senate will convene briefly on Thursday for a short session to pass a border-security measure.

A spokesman for Senate Majority Leader Harry Reid (D-Nev.) said the Senate would go back to work to unanimously pass a $600 million border security bill and a resolution honoring the late Sen. Ted Stevens (R-Alaska)..read more TheHill.com

Crowd waiting for housing vouchers gets rowdy

By Mike Morris

The Atlanta Journal-Constitution

A crowd of people hoping to get federal housing assistance became unruly Wednesday morning with reports of fights breaking out in the crowd.

Thousands of people were lined up at the Tri-Cities shopping center, hoping to apply for a voucher from the East Point Housing Authority that will give them a discount on their rent.

People began lining up at the shopping center two days ago, and by Wednesday morning the crowd had grown to over several thousand people. East Point police, some wearing riot helmets, were patrolling the area. Firefighters and EMTs were attending to people who were overheating in the sun. Police from College Park, Hapeville, Fulton County and MARTA assisted in crowd control…read more ACJ

Joe Biden and Other Obstacles to Preventive Sick Care

By Michael Applebaum, MD

In the sick care domain, there are several dirty words. Two are “anabolic” and “steroid.”

The Ur anabolic steroid (AS) is testosterone (T). Erroneously characterized as a male hormone, it is produced by both sexes, where it exerts anabolic effects — i.e., it builds tissue. Another term for AS is “androgens” since AS also have androgenic (masculinizing) effects.

The relationship between sick care and these dirty words is multifarious, complex, broad, and deep.

The relationship between government and these dirty words is sickening. Literall

For now, all that will be covered is the matter of chronic illness prevention and anabolic steroids. (The values of AS in treatment are left for another essay.) ..read more American Thinker

The Livable Communities Act

By Ed Braddy

Is the American Dream getting smaller? Are we defining down the tools of opportunity and the pleasures of prosperity?

President Obama’s flippant dismissal of American exceptionalism last year stirred a lot of criticism because it suggested he did not believe the United States held a special place in the world. It also suggested America’s unique history is, to the president, no big deal…read more American Thinker

Peak Obama

By on 8.11.10 @ 6:09AM

Thirty-one months after the start of the recession, last week’s jobs report for July was a fiasco. The Labor Department reported yet another 131,000 jobs lost in July. The Department also revised the June report downward to show 221,000 jobs lost that month from 125,000. The unemployment rate remained at 9.5% only because 181,000 additional discouraged workers left the work force, and so were not counted as unemployed. That makes one million who have fled the work force since April…read more The American Spectator

Maybe It’s the Heat

By on 8.10.10 @ 6:09AM

TAMPA – The guy who wrote the song “In the Good Ole Summertime” wasn’t from around here. Florida summers aren’t for sissies. Nineties-everyday-except-when-it-rains-all-day begins in May and lasts into October. And it’s NOT a dry heat. Summer visitors here soon learn why Florida’s state bird is mildew… read more The American Spectator

America the Generous

By on 8.11.10 @ 6:09AM

Forty billionaires have just pledged to give away at least half their wealth to charity, concerning which a few observations.

Scripture says it is easier for a camel to pass through the eye of a needle than for a rich man to enter the kingdom of Heaven (capitalized because, as Ralph de Toledano pointed out, it’s a place — you know, like Scarsdale). We could note in passing, but will not, that there is no suggestion that a rich woman would be similarly challenged…read more The American Spectator

A Grandmother on Trial

By on 8.11.10 @ 6:08AM

Ultra-leftist Congresswoman Maxine Waters (D-CA) faces three ethics charges (see official Ethics Committee document here) related to her attempt to get federal bailout money directed to a bank, OneUnited, in which her husband, Sidney Williams, was an investor. The value of Williams’ ownership had dropped from over $350,000 at the end of June, 2008, to $175,000 in September, 2008, after the government put Fannie Mae and Freddie Mac into “conservatorship” (because OneUnited had substantial investments in FNM and FRE-backed securities.) Williams had also been a member of the bank’s Board of Directors….read more The American Spectator

A Nation of Living Constitutions

By Daniel Greenfield  Wednesday, August 11, 2010

Today, people are more persuaded than ever that they have perfect freedom, yet they have brought their freedom to us and laid it humbly at our feet.” —The Grand Inquisitor

Freedom doesn’t grow on trees. It exists by virtue of independence from the powers that might take that freedom away. Since there is no such thing as perfect freedom, and we must all live under one form of authority or another, rights exist to fence out authority from the space allotted to freedom. Rights create an artificial form of freedom through a covenant with the authorities. The more leverage the citizens have over the authorities, the more they can prevent those rights from being trampled upon..read more Canada Free Press

Short Memories, Bad Politics, Big Debt

By Alan Caruba

“We have tried spending money. We are spending more than we have ever spent before and it does not work…we have just as much unemployment as when we started…and an enormous debt to boot!” It was a decade of disaster and the man who spoke these words was Henry Morgenthau, Jr., Franklin D. Roosevelt’s Secretary of the Treasury. The date was May 9, 1939….Full Story

Money and the State

By Vasko Kohlmayer

In the introduction to What Has Government Done to Our Money, Murray Rothbard – one of last century’s most brilliant economists – made an incisive observation. Rothbard noticed that most people, including most of those who consider themselves free marketers, “never think of state control of money as interference in the free market.”…Full Story

Congressman Ron Paul

Texas Straight Talk

A weekly column

The Cycle of Violence in Afghanistan

Last week the National Bureau of Economic Research published a report on the effect of civilian casualties in Afghanistan and Iraq that confirmed what critics of our foreign policy have been saying for years:  the killing of civilians, although unintentional, angers other civilians and prompts them to seek revenge.  This should be self-evident.

The Central Intelligence Agency has long acknowledged and analyzed the concept of blowback in our foreign policy.  It still amazes me that so many think that attacks against our soldiers occupying hostile foreign lands are motivated by hatred toward our system of government at home or by the religion of the attackers.  In fact, most of the anger towards us is rooted in reactions towards seeing their mothers, fathers, sisters, brothers and other loved ones being killed by a foreign army.  No matter our intentions, the violence of our militarism in foreign lands causes those residents to seek revenge if innocents are killed.  One does not have to be Muslim to react this way, just human.

Our battle in Afghanistan resembles the battle against the many-headed Hydra monster in Greek mythology.  According to Former General Stanley McChrystal’s so-called insurgent math, for every insurgent killed, 10 more insurgents are created by the collateral damage to civilians.  Every coalition attack leads to 6 retaliatory attacks against our troops within the following six weeks, according to the NBER report.  These retaliatory attacks must then be acted on by our troops, leading to still more attacks, and so it goes.  Violence begets more violence.  Eventually more and more Afghanis will view American troops with hostility and seek revenge for the death of a loved one.  Meanwhile, we are bleeding ourselves dry, militarily and economically…read more Congressman Ron Paul

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