The Bain Report

by R. Al Bain

Home Builder Confidence Falls to Lowest Level Since June
A modest setback on the housing front, as home builder confidence unexpectedly fell in January, as concern about job growth and the large supply of foreclosed homes on the market weighed on builders’ sentiment.
January 2010 Home Builder Confidence Index Falls to Lowest Level Since June 2009 – DailyFinance

TARP Tax Trickery: Banks Won’t Really Pay Back All $90 billion
Did you hear about the new tax proposed by President Obama, designed to recoup $90 billion in lost TARP money from the nation’s largest financial firms? Well, there’s a catch: The banks won’t actually repay all $90 billion, because the new tax will be tax deductible.
TARP Tax Trickery: Banks Won’t Really Pay Back All $90 billion – DailyFinance

Five Potential Potholes on the Road to U.S. Recovery
News that business inventories and industrial production are rising suggests the U.S. economic recovery is on track. But unlike previous recessions, there are five potential “potholes” in the road ahead. Declining employment and increasing commercial real estate foreclosures are two possible biggies.
Five Potential Potholes on the Road to U.S. Recovery – DailyFinance

Food Shortages Coming? Famed Investor Jim Rogers Thinks So
A severe food shortage is on its way, according to famed investor Jim Rogers. Food inventories are the lowest in decades and “many farmers cannot get loans to buy fertilizer now, even though we have big shortages developing,” he said.
Famed Investor Jim Rogers Says Food Shortages Coming – DailyFinance

Wall Street Bankers Make Stunning $145 Billion for 2009
In a move that is sure to irritate an already outraged public, major U.S. banks paid out $145 billion in compensation in 2009, up 18% from 2008
Wall Street Bankers Make Stunning $145 Billion for 2009 – DailyFinance

Obama Surrenders U.S. Sovereignty: His INTERPOL Executive Order
Unsettling issuance of an executive order recently signed by President Barack Obama. Executive Order — Amending Executive Order 12425, signed December 16 and released a day later, grants the International Criminal Police Organization (INTERPOL) rights on American soil that place it beyond the reach of our own law enforcement agencies, such as the Federal Bureau of Investigation (FBI). Obama’s order gives the group the authority to avoid Freedom of Information Act (FOIA) requests — which means this foreign law enforcement organization can operate free of an important safeguard against governmental abuse. “Property and assets,” including the organization’s records, cannot be searched or seized. Their physical locations and records are now immune from U.S. legal or investigative authorities.
Pajamas Media » Obama Surrenders U.S. Sovereignty: His INTERPOL Executive Order

Is ‘Cash for Clunkers’ Gearing Up for a Comeback?
But does the nation really want it? It’s normal and expected for politicians to minimize the concerns of their critics, but LaHood seems to want to deny that the critics of Cash for Clunkers even exist. A 2009 Rasmussen Reports survey found that 54% of Americans oppose Cash for Clunkers, compared with just 35% who support it. Edmunds.com estimated that the program ended up costing taxpayers about $24,000 for every car sale that it stimulated.
Is ‘Cash for Clunkers’ Gearing Up for a Comeback? – DailyFinance

ObamaCare Backdoor Deal Creates Public Option
ALERT: Congress is forcing Americans to have health insurance — and prove it on their tax returns or face a fine. The Internal Revenue Service will enforce this new health insurance mandate.
Congress.org – : Letter to Senator Kay Hagan (D-North Carolina): ObamaCare Backdoor Deal Creates Public Option

Fannie, Freddie, Fraud
Edward Pinto, a former chief credit officer for Fannie Mae and a housing expert, began to penetrate the media fog. Pinto has documented that as far back as 1993, Fannie and Freddie were buying risky subprime and Alt-A loans, but routinely misrepresenting them as prime. Let me drive this point home. Without Fannie and Freddie’s certification of millions of bad loans as safe, other banks both domestic and foreign wouldn’t have bought them. More importantly, world financial markets wouldn’t have relied on those packaged loans as collateral and collapsed when they went bad.
Fannie, Freddie, Fraud

Conspiracy Theories: The Council on Foreign Relations
The common link between most conspiracy theories is that there are persons or organizations attempting to put a one world government in place. The organizations most often mentioned in conspiracy theories are The Council on Foreign Relations.
Conspiracy Theories

Unemployment Rates by County January 2007 4.6%
According to the U.S. Department of Labor’s Bureau of Labor Statistics, there are more than 31 million people currently unemployed — that’s including those involuntarily working parttime and those who want a job, but have given up on trying to find one. In the face of the worst economic upheaval since the Great Depression, millions of Americans are hurting. “The Decline: The Geography of a Recession,” as created by labor writer LaToya Egwuekwe, serves as a vivid representation of just how much. Watch the deteriorating transformation of the U.S. economy from January 2007 — approximately one year before the start of the recession — to the most recent unemployment data available today.
multimediafinal

Income Tax Never Ratified, So Why Pay?
The Federal Reserve, which is no more Federal than Federal Express, has long since been carrying out strictly enforced laws in regards to the income tax, however, in light of the Tax Honesty movement as well as We The People Foundation, new light is being shed upon this once complex and strung out tax code.
Income Tax Never Ratified, So Why Pay?

Largest Embezzlement in American History
While the mainstream media swarmed all over Bernie Madoff, AIG and corporate billionaires, the gentlemen of the press, who are so proud of fighting for the Little Guy, were mostly out to an expense-account lunch when Melissa King allegedly made off with $42 million rightfully belonging to members of the Laborers International Union of North American (LIUNA). In what is being called the largest union embezzlement in American history, the LIUNA Local 147 (New York) office administration was apparently unsatisfied with her meager $500,000 a year paycheck. So much for the Union Representation!
» Most of MSM Yawns, Rolls Over As Largest Union Theft in History Goes Largely Unreported – Big Journalism

The Federal Reserve made $45 billion last year
The Fed has refused to detail its loan activities. The Administration recently raised the prospects of a large tax on banks to cover losses taxpayers may have taken on bank aid including the TARP. The Fed’s numbers raise the issue of whether the government has already profited substantially from its bailout activity.
The Fed Earns An Astounding $45 Billion In 2009 – 24/7 Wall St.

Even the White House Is Not Immune to Plunging Real Estate Market
How much is the White House worth? Online real estate database Zillow came up with $292,386,000 as of Jan. 18, that is down $15 million since the Obama family took up residence a year ago, and down another $24 million since George W. Bush’s final year in office.
Even the White House Is Not Immune to Plunging Real Estate Market – DailyFinance

Initial Jobless Claims Surge on Year-End Filings
Jobless claims jumped 36,000 to 482,000 for the week ending January 16, 2010
Jobless Claims Surge 36,000 on Year-End Filings – DailyFinance

‘Fat Cat’ Bonuses at Morgan Stanley Despite Dismal Year
To understand why the American public is so enraged by Wall Street’s bonus structure, one needn’t look further than New York-based Morgan Stanley. Despite a dismal year in 2009, the company paid out record bonuses and salaries.
‘Fat Cat’ Bonuses at Morgan Stanley Despite Dismal Year – DailyFinance

Obama’s New Order: No Government Contracts for Tax Cheats
On Wednesday, President Obama signed an executive order directing federal agencies to keep contractors who are delinquent on their taxes from getting new government contracts. But I guess it’s ok to nominate TAX CHEATS to his administration!
Obama’s New Order: No Government Contracts for Tax Cheats – DailyFinance

Obama’s Domestic Agenda Needs a Reset
I think Massachusetts Republican State Senator Scott Brown’s victory in the election to replace the late Senator Ted Kennedy is 40% a result of his far superior campaign — his defeated opponent was a painfully inept campaigner — and 60% a bolt of lightning delivered to the White House’s nervous system from voters in what had previously been thought of as the safest Democratic state in the union. The message traveling down that bolt of lightning was that perennial favorite — it’s the economy, stupid.
Obama’s Domestic Agenda Needs a Reset – DailyFinance

December Housing Starts Fall 4% in Weak End to Awful Year
Housing starts unexpectedly fell 4% in December to close out the nation’s worst year for the housing sector since the end of World War II. In 2009, housing starts plunged 39% to a record low 554,000.
December Housing Starts Fall 4% in Weak End to Awful Year – DailyFinance

State GOP Reinvigorated
Jubilation among Michigan Republicans and hand-wringing for state Democrats. Those were the reactions in the wake of Scott Brown’s surprising victory Tuesday to win the Massachusetts Senate seat held by the late Edward Kennedy for 47 years.”This will be a big help in waking up a lot of donors and energizing traditional Republicans,” said Lansing political consultant John Truscott. “After last night, they’re going to … open their wallets.”
State GOP reinvigorated | freep.com | Detroit Free Press

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  1. #1 by Robert Feeley on Sunday, January 24, 2010 - 13:06

  1. Week in review « Craig W. Wright

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