Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (458345)	2/21/2009 2:28:49 PM
From: TopCat	Respond to of 1573746

"The primary culprit was not excessive credit. Yes, it is contributing to this mess but its the deflationary spiral of housing, caused by the subprime crap, that is the main culprit." You don't see the connection between "excessive credit" and the "subprime crap?" I guess I shouldn't be surprised.

To: tejek who wrote (458345)	2/21/2009 2:52:36 PM
From: Tenchusatsu	Read Replies (1) \| Respond to of 1573746

Ted, you make some good points in your post here, so if you don't mind, I'm just going to bring out a few: > Do you know that at the current rate of car buying, everyone's car would have to last 16-20 years? Anything is possible but I doubt the vast majority of Americans will be driving around in cars that old. Think about that for a minute. Can that continue? Of course not. People will have to replace their cars eventually, likely with more fuel-efficient, economic models. Demand will pick up on its own. The free market can still work. > People have to believe that someone is in charge in DC and knows what they are doing. That's the attitude Obama is trying to convey.......cool and calm. Its intentional. Its what people need right now. I've heard a tongue-in-cheek idea brought up. Obama can simply just go out there and talk up the economy. He can even sell his celebrity status via T-shirts, product endorsements, maybe even some TV guest appearances on shows like 30 Rock. I hope you get my point here. Every leader has to portray a cool and calm attitude. That's part of the job. Feel-good feelings feel good, but in the end they're still empty feelings and they still don't pay the mortgage ... or fill up the gas tank ... Tenchusatsu

To: tejek who wrote (458345)	2/21/2009 2:53:26 PM
From: longnshort	Respond to of 1573746

Obama victory bash owes city $1.74 mil. PARTY IN THE PARK \| Waiting for Dems to pay up February 20, 2009 BY FRAN SPIELMAN City Hall Reporter Chicago has yet to recoup the $1.74 million cost of President Obama's victory celebration in Grant Park -- despite a burgeoning $50.5 million budget shortfall that threatens more layoffs and union concessions. "The Democratic National Committee has not yet paid us,'' Peter Scales, a spokesman for the city's Office of Budget and Management, said Thursday after questions from the Chicago Sun-Times. "We're reaching out to them this week." THE BILL The bill for Barack Obama's election night rally at Grant Park Police $1 million Emergency Management and Communications Office $121,578 Fire Department $85,965 Streets and Sanitation $71,694 Transportation $49,659 Cultural Affairs $2,567 Environment $2,309 CTA $201,500 Chicago Park District $202,440 (Park District breakdown): Giant video boards $68,900 Electrical $37,185 Sound $37,500 Stagehands $29,850 Portable toilets $12,500 Security $7,505 Stage rental $6,000 Bike racks, barricades $2,000 Heavy equipment $1,000 Total bill $1,737,712 Stacie Paxton, a spokeswoman for the Obama-controlled DNC, explained the reimbursement delay by saying, "We are still looking at various costs and bills.'' She would not say whether parts of the bill are disputed. The city spent $1 million on police protection for the rally. The Office of Emergency Management and Communications racked up more than $120,000 in expenses, including $19,500 paid to police official Neil Sullivan to quarterback election night logistics. In late October, Mayor Daley assured that the cash-flush Obama campaign would reimburse the city for every penny spent on the rally. "We have a financial crisis," he said at the time. "The City of Chicago could not afford $2 million on this because we're gonna be laying off people, cutting back. That [cost] would really be unfortunate. . . . It's a huge cost to the City of Chicago. "This is not a presidential visit. . . . This is a political event, and they've agreed to pay for all those services -- all the expenses of that. ... It's costly, but they raised quite a bit of money. There's no [shortage] of money in that campaign." The day after the Nov. 4 election, Daley was asked again whether the Obama campaign would pay up. "Yeah. I don't know why you're so negative. ... What is this? He just won for president, and you say, 'He's not gonna pay his bills,' " the mayor said then. On Dec. 9, the day the Sun-Times disclosed the $1.74 million tab, Obama spokesman Ben LaBolt referred questions to the DNC. Paxton confirmed then that the rally was a "DNC-sponsored event" and that the party was discussing the itemized bill with the city. suntimes.com