STOCK MARKET WATCH, Friday, September 30, 2011

[Pale Blue Dot]

Source: du

STOCK MARKET WATCH, Friday, September 30, 2011

AT THE CLOSING BELL ON September 29, 2011

Dow 11,153.98 +143.08 (+1.28%)
Nasdaq 2,480.76 -10.82 (-0.44%)
S&P 500 1,160.40 +9.34 (+0.80%)
10-Yr Bond... 1.95 -0.05 (-2.45%)
30-Year Bond 2.99 -0.06 (-1.97%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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Bush Administration Officials Convicted = 2
Names: David Safavian, James Fondren
Dishonorable Mention: former House majority leader, Tom DeLay

Bush Administration Officials Charged = 1
Name(s): Richard Lopez Razo

Financial Sector Officials Convicted since 1/20/09 = 12

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This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

Read more: du

[Pale Blue Dot]

1. Today's Reports

Sep 30 08:30 Personal Income Aug -0.3% 0.1% 0.3%
Sep 30 08:30 Personal Spending Aug -0.2% 0.2% 0.8%
Sep 30 08:30 PCE Prices - Core Aug 0.2% 0.2% 0.2%
Sep 30 09:45 Chicago PMI Sep 53.0 54.0 56.5
Sep 30 09:55 Michigan Sentiment - Final Sep 57.0 57.5 57.8

Read more: http://www.briefing.com/investor/calendars/economic/2011/09/26-30/#ixzz1ZQsmzbpw

[Pale Blue Dot]

2. Oil above $82 as recession worries fade for now

BANGKOK – Oil prices inched higher Friday as recession alarm bells quieted following a glimmer of positive U.S. economic news and steps in Europe toward controlling its debt crisis.

Benchmark crude was up 35 cents to $82.50 per barrel at midafternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 93 cents to close at $82.14 per barrel in New York.

German lawmakers took a major step toward dealing with Europe's debt crisis Thursday by strengthening a bailout fund for financially strapped countries. That eased worries about Greece, which only has enough money to pay its bills through mid-October.

The country risks a massive default on its debts, an event that could spiral into a financial and banking crisis across the continent. Some experts say a Greek default could lead to a global recession, thus hurting demand for oil.

http://old.news.yahoo.com/s/ap/oil_prices

[Demeter]

12. Would you believe I paid $3.26 for gas yesterday?

I'm still in shock.

[AnneD]

30. Here in Houston.....

the lowest price seems to be $3.17 but I got a customer discount at my grocery store for $2.97. Now THAT caused me to be speechless.

[Pale Blue Dot]

3. U.S. Stock Futures Decline on Economy Concerns

U.S. stock-index futures fell, indicating the Standard & Poor’s 500 Index will extend its biggest quarterly drop since 2008, after reports from China and Germany added to concern the global economy is slowing.

Caterpillar Inc. (CAT), the world’s largest construction and mining-equipment maker, slipped 0.6 percent in German trading. JPMorgan Chase & Co. (JPM) dropped 0.4 percent, while Bank of America Corp. (BAC) slid 1.6 percent. Exxon Mobil Corp. (XOM) decreased 1 percent in European composite trading as oil headed for the biggest quarterly decline in New York since 2008.

S&P 500 futures expiring in December retreated 1.1 percent to 1,144 at 10:49 a.m. in London. Dow Jones Industrial Average contracts fell 105 points, or 1 percent, to 10,994.

“Those concerns are very much alive,” Veronika Pechlaner, who helps manage about $1.8 billion at Jersey, Channel Islands- based Ashburton Ltd., said in a telephone interview, referring to a slowdown in economic growth. “Now we’re going through the process of really finding out how bad it’s going to be.”

http://www.bloomberg.com/news/2011-09-30/u-s-stock-futures-decline-on-concern-worldwide-economic-growth-is-slowing.html

I'll admit that I enjoyed putting these two headlines right next to each other.

[Po_d Mainiac]

4. Good mornin

:donut:

[DemReadingDU]

5. rec #4

must be slow news day, or everyone is sleeping in
:hi:

[Tansy_Gold]

6. I'm up! I'm up!

Dogs wanted out at 2:55. There are four of 'em, and they're big.

:hi:

[AnneD]

32. Dogs and cats......

alarm clocks are for wimps. Who needs them when you have dogs and cats.

They also make hand towels, washcloths, dishwashers, dustrags, and vacumn cleaners obsolete.

[Tansy_Gold]

35. About the vacuum cleaners. . . ...

:rofl:

Two of my dogs are long haired and black.

The BF obsessively runs the vacuum at least twice a day, sometimes more often.

[Demeter]

41. Well, Tansy, If the Vacuuming Bothers You

send him over here. I could use that kind of help.

[Po_d Mainiac]

51. If the mutts had worms, he'd be hosing the place down on

on an hourly basis.

Can you say 'scooter'?

[DemReadingDU]

52. The best sweepers!

I never realized how clean my kitchen floor was when we had a dog, until we didn't have a dog.
Crumbs, crumbs and more crumbs, everywhere. I now have 2 dogs and a cat.
:)

[Fuddnik]

53. Nothing wakes you up like having your nose and ears chewed on.

Hair? Where?

[xchrom]

7. good morning!

:donut:

[Po_d Mainiac]

10. A negative print on personal income and spending

might castrate a couple of yesterday's bulls.

Bank O A'holes got lots of free advertising with their plans to fleece Debit card holders....Wunner if Barfett blew that turd while taking a bath also?

Protests in Lower Manhatten are gaining momentum...A couple unions have finally woken up.

Oil holding above $80, as the dixy soars? Hmmmmm

Gonna be an interesting Friday roller coaster.
Tight Lines!

[Demeter]

15. I don't want any more interesting days

The Kid developed an abscess due to inflammation of an undefined cyst, which I noticed Monday morning. And we've been spending 1-2 hours a day at th doctors, since.

The good news is it isn't bacterial. The bad news is, it's an inch deep.

So every day we go in to have the incision packed with a gauze wick to pull out whatever, and as it heals from the bottom up, this will mean less gauze until it's completely healed, and then she'll need surgery to remove the cyst.

And when I first brought the cyst to the doctors' attention, several years ago, they all said, "Don't worry about it." :eyes:

And while it heals, I have to keep her out of the bathtub and shower, which means constant vigilance, since she doesn't understand...and tries to sneak in anyway.

[Tansy_Gold]

22. Invest in beauty

September marks, for some, the end of summer in the northern hemisphere. I thought maybe The Last Rose of Summer would be something nice to look at.




This is a photographer's website www.jnama.com with a lot of rose pictures, but other flowers and a few herbs as well.

Here in the desert we're finally cooling off a little. If we get rain this winter -- we had damn little this summer -- our flowers will bloom in January and February. We even have some roses.

[Demeter]

25. My Roses Haven't Been Abundant This Year

due to the weird and volatile weather, but they have been beautiful.

There have been years when I had roses up to November. Don't think that will happen this year. We are forecast a high of 49F tomorrow, while I'm at my first Big 10 football game...

In NH, in the solar greenhouse, I'd have roses in time for Valentine's Day every year. I hear tell the new owners tore it off. Hope they pay $3000 a year in heating costs now.

[Tansy_Gold]

33. I remember a particularly bizarre autumn in Indiana

We had cool weather and even some snow, but no frost, and one of my roses produced a beautiful bloom for Christmas.

I have had erratic luck with roses in Arizona. They grow well here -- there is a fantastic rose garden on the campus of Mesa Community College

<a href="http://www.tripadvisor.com/LocationPhotos-g31281-d2233075-Rose_Garden_at_Mesa_Community_College-Mesa_Arizona.html"><img alt="Photos of Rose Garden at Mesa Community College, Mesa" src=""/></a><br/>This photo of <a href="http://www.tripadvisor.com/Attraction_Review-g31281-d2233075-Reviews-Rose_Garden_at_Mesa_Community_College-Mesa_Arizona.html">Rose Garden at Mesa Community College</a> is courtesy of TripAdvisor


And there is a huge rose farm in Waddell, AZ. I will not speculate on the status of the many workers shown in the photos at this link.
http://www.azcentral.com/photo/Community/Surprise/19097#phototop

[AnneD]

36. I know it is your kid and all Demeter...

but thanks for being so vigilant in your special needs child's care. I deal with many disabled every day and it breaks my heart at what happens when they are no longer in the school system. We try so hard to teach them to be independent but most need some time of caring oversight to fully function independently. :pals:

[Demeter]

38. The Kid Had a Classmate Who Was Abandoned by Her Family at an Early Age

so that she would be a ward of the state. The family "got back in touch" after she turned 18....the poor girl was so happy about it, too.

[JDPriestly]

56. What would you do if you couldn't afford to go to the doctor?

[AnneD]

59. That is an easy answer.....

esp when you consider many hard core street people are mentally disabled. They clog the emergency rooms if they have the where with all to come in, otherwise they die in the streets. Thank You Saint Ronnie.

[kickysnana]

76. Any way you can cover it with Transparent Film Dressing?

My Aunt was doing rehab after a stroke and she was getting blisters from diabetes and poor leg circulation which made her ineligible to be in the pool. Being able to stand improved her circulation and she could only stand while in the pool. The therapists at Courage Center gave her some samples and we got some and used it. She did not react to it as she does to some adhesives. Just a thought.

[Demeter]

79. The Kid Has No Ability to Keep Herself Clean and Out of Trouble

but thanks for the thought.

[xchrom]

8. asia: China takes giant leap, puts space lab into orbit

http://timesofindia.indiatimes.com/world/china/China-takes-giant-leap-puts-space-lab-into-orbit/articleshow/10177972.cms

BEIJING: China on Thursday successfully launched its first unmanned "space laboratory" . The Tiangong-1 , which means " Heavenly Palace" , blasted off from a site in the Gobi Desert around 6.46pm (India time).

The 10.5m-long , cylindrical module was launched two days before its National Day celebrations, making China the third country after the US and Russia to operate a permanent space station, which it expects to be operational by 2020.

Chinese Premier Wen Jiabao watched as the unmanned "space lab" and the Long March rocket that heaved it skyward from a pad at Jiuquan in northwest Gansu province, lifted off under clear skies.

The Tiangong-1 will orbit on its own for a month after which it will be joined by another spaceship, Shenzhou-8 . Both will then conduct the first space docking. The next two years will see two more spaceships.

[xchrom]

9. south asia: Gold price rises by Rs 200, silver up by Rs 800 on festive demand

http://timesofindia.indiatimes.com/business/india-business/Gold-price-rises-by-Rs-200-silver-up-by-Rs-800-on-festive-demand/articleshow/10184020.cms

NEW DELHI: Snapping two days of losses gold on Friday rose by Rs 200 to Rs 26,640 per 10 grams on buying support by stockists at existing low levels amid a firm trend in the Asian region.

Silver also shot up by Rs 800 to Rs 54,300 per kg on increased offtake by industrial units and jewellers for the ongoing festive season.

Trading sentiments turned better after gold climbed in Asia, as investors sought to protect their wealth against Europe's sovereign-debt crisis and a potential slowdown in the global economic recovery.

Gold in the Asian region rose by 1.6 per cent to USD 1,640.32 an ounce and silver by 2.2 per cent to USD 31.29 an ounce in Singapore.

In addition, pick-up in local demand for the ongoing 'Navratra', considered an auspicious period in Hindu mythology for making new purchases, also supported the uptrend in both gold and silver.

[xchrom]

11. Sensex dips 244 pts on rate concerns, weak global cues

http://timesofindia.indiatimes.com/business/india-business/-Sensex-dips-244-pts-on-rate-concerns-weak-global-cues/articleshow/10184603.cms

MUMBAI: The BSE Sensex dipped 244 points to 16,453.76, as investors sold across sectors amid weak overseas markets and renewed concerns over further hike in interest rates, high inflation and global economic slowdown.

With this fall, the benchmark has logged a decline of 9.6 per cent in the July-September quarter - biggest dip in three years. Sensex lost 10.4 per cent in the same quarter in 2008.

Brokers said the October derivatives series commenced on a weak note, with Sensex washing out Thursday's gains, as investors sold metals, realty, banking and auto stocks.

They said interest rate concerns gathered momentum as food inflation rose to 9.13 per cent for week ended September 17, from 8.84 per cent in previous week - a development which Finance Minister Pranab Mukherjee had termed as "grave".

[xchrom]

13. POs postponed at record pace globally

http://timesofindia.indiatimes.com/business/international-business/IPOs-postponed-at-record-pace-globally/articleshow/10178276.cms

Companies cancelled or postponed $8.9 billion in initial public offerings in the third quarter as stocks plunged, putting the market on pace to set a record for pulled deals.

The value of withdrawn and delayed IPOs so far this year rose to $34 billion, approaching the $40 billion pulled in 2010, the most since Bloomberg began compiling data. Siemens suspended an IPO of its Osram lighting unit, while US defense equipment maker ADS Tactical and Shanghai-based Xiao Nan Guo Restaurants Holdings abandoned offerings.

The pace of IPOs slowed as equity markets fell to the lowest level in more than a year and stock volatility surged in August to the highest since 2009. In the US, delays helped create the biggest backlog of IPOs since at least 2006, with 154 deals as of September 20, according to Ipreo Holdings.

"Issuers have learned to be more patient while looking for the right windows," said Tim Harvey-Samuel , Citigroup's London-based head of equity capital markets for Europe, the Middle East and Africa. "A number of transactions may slip into 2012."

[xchrom]

14. Gold rate today: Yellow metal rises but set for worst month in nearly 3 years

http://economictimes.indiatimes.com/markets/commodities/gold-rate-today-yellow-metal-rises-but-set-for-worst-month-in-nearly-3-years/articleshow/10183505.cms

LONDON: Gold rose more than 1 per cent on Friday but was on track for its biggest quarterly gain this year as concerns that the euro zone debt crisis was far from resolved weighed on stock markets and the euro, lifting interest in bullion as an alternative.

The metal is set to end September with a loss of more than 10 per cent, however, its worst monthly performance since Oct. 2008, after extreme volatility saw it peak at a record $1,920.30 an ounce and trade in a near $400 range.

Spot gold was up 1 per cent at $1,929.79 an ounce at 1007 GMT.

The risk aversion that drove prices higher earlier in the quarter turned negative for gold as a slide in other assets prompted selling of the metal to cover losses elsewhere. A rise in margin requirements for US gold futures also weighed.

[Roland99]

16. The 7 Stages of Robot Replacement

http://www.kk.org/thetechnium/archives/2011/09/the_7_stages_of.php

A robot/computer cannot possibly do what I do.

OK, it can do a lot, but it can't do everything I do.


OK, it can do everything I do, except it needs me when it breaks down, which is often.


OK, it operates without failure, but I need to train it for new tasks.


Whew, that was a job that no human was meant to do, but what about me?


My new job is more fun and pays more now that robots/computers are doing my old job.


I am so glad a robot cannot possibly do what I do.

[Demeter]

17. In a First, SEC Warns Rating Agency It May Bring Financial Crisis Lawsuit

http://www.truth-out.org/first-sec-warns-rating-agency-it-may-bring-financial-crisis-lawsuit/1317224268

Though they’ve been faulted for their central role in the financial crisis, the major credit-ratings agencies have thus far weathered the fallout of the crisis with no sanctions from federal regulators and little more than a bruised reputation.

But that could change soon.

In a formal warning known as a Wells notice, the Securities and Exchange Commission informed credit-ratings firm Standard & Poor’s that it’s considering civil charges tied to the firm’s ratings of a 2007 mortgage-backed securities deal. It’s the first such warning to be given to a credit-ratings agency over matters directly related to the financial crisis.

The deal, known as Delphinus, was one of more than two-dozen collateralized debt obligations linked to the hedge fund Magnetar, whose role in creating and betting against risky CDOs was detailed in a ProPublica investigation last year. Completed in the summer of 2007, Delphinus was one of the last deals done by Magnetar and was underwritten by the Japanese bank Mizuho.

Details on S&P’s potential violations are still unclear. But last year’s Senate investigation of the financial crisis may contain some hints...

[Demeter]

64. SEC finds failures at credit raters

http://news.yahoo.com/sec-finds-failures-credit-rating-agencies-144439401.html

Securities and Exchange Commission staff found "apparent failures" at each of the 10 credit rating agencies they examined, including Standard & Poor's, Moody's, and Fitch, the agency said on Friday in its first annual report on credit raters. The SEC sent letters outlining the staff's concerns to each of the ratings firms and demanded a remediation plan with 30 days, an agency official said in a conference call with reporters...The SEC staff said concerns include failures to follow ratings methodologies, failures in making timely and accurate disclosures and failures to manage conflicts of interest. The SEC's report was required by last year's Dodd-Frank financial oversight law...The industry is dominated by Moody's Corp, McGraw-Hill Cos Inc's Standard & Poor's and Fimalac SA's Fitch Ratings.

The staff report did not single out by name any credit-rating agency for questionable actions, but it did describe specific problems it found...Two of the three largest firms, for example, did not have specific policies in place to manage conflicts of interest when rating an offering from an issuer who is also a large shareholder of the firm. One of the large firms, the report said, did not have effective procedures in place to prevent leaks of ratings before they are published, the report said. One of the three firms also failed to follow its methodology in rating certain asset-backed securities, was slow to discover, disclose and fix the errors, and may have let business interests influence its mistakes, the report said.

The report said the SEC has not determined that any of the findings constituted a "material regulatory deficiency" but said it might do so in the future. "We expect the credit rating agencies to address the concerns we have raised in a timely and effective way, and we will be monitoring their progress as part of our ongoing annual examinations," said Norm Champ, deputy director of the SEC's Office of Compliance Inspections and Examinations...

[Demeter]

65. JPMorgan, BofA sued over mortgage debt losses

http://news.yahoo.com/jpmorgan-bofa-sued-over-mortgage-debt-losses-142018406.html

JPMorgan Chase & Co and Bank of America Corp were hit with new lawsuits by investors seeking to recover losses on $4.5 billion of soured mortgage debt, expanding the litigation targeting the two largest U.S. banks.

Sealink Funding Ltd said between 2005 and 2007 it bought nearly $2.4 billion of residential mortgage-backed securities (RMBS) from JPMorgan and $1.6 billion from Bank of America in reliance on offering materials that were misleading about the quality of the underwriting and underlying loans.

According to court papers, Sealink is an Irish entity that oversees RMBS purchased by special purchase vehicles once sponsored by SachsenLB.

Another plaintiff, Landesbank Baden-Wurttemberg, raised similar claims in a separate lawsuit against JPMorgan over $500 million of RMBS that it said it bought.

The plaintiffs seek compensatory and punitive damages.

[Demeter]

18. Department of Defense's Unending Nightmare: Pass an Audit by 2017?

http://www.truth-out.org/department-defenses-unending-nightmare-pass-audit-2017/1317146062

The Department of Defense (DoD) still holds out hope that they will be able to pass a financial audit by 2017, but the Government Accountability Office's (GAO) testimony to Congress last Friday doesn't hold out much hope. In testimony entitled "Improved Controls, Processes, and Systems Are Needed for Accurate and Reliable Financial Information," the GAO paints a grim picture of the DoD's efforts to put in financial reporting systems to pass an audit and know where its money is going.

All the other large federal departments have passed this audit since it became a requirement in the late 1990s. But the DoD, with its parochial three services, has not been able to put in a standardized system to know how much money it has and where it is going...

[Demeter]

19. Signs of Protest

[Demeter]

23. The due-process-free assassination of U.S. citizens is now reality

http://www.salon.com/news/opinion/glenn_greenwald/2011/09/30/awlaki/index.html

It was first reported in January of last year that the Obama administration had compiled a hit list of American citizens whom the President had ordered assassinated without any due process, and one of those Americans was Anwar al-Awlaki. No effort was made to indict him for any crimes (despite a report last October that the Obama administration was "considering" indicting him). Despite substantial doubt among Yemen experts about whether he even has any operational role in Al Qaeda, no evidence (as opposed to unverified government accusations) was presented of his guilt. When Awlaki's father sought a court order barring Obama from killing his son, the DOJ argued, among other things, that such decisions were "state secrets" and thus beyond the scrutiny of the courts. He was simply ordered killed by the President: his judge, jury and executioner. When Awlaki's inclusion on President Obama's hit list was confirmed, The New York Times noted that "it is extremely rare, if not unprecedented, for an American to be approved for targeted killing."

After several unsuccessful efforts to assassinate its own citizen, the U.S. succeeded today (and it was the U.S.). It almost certainly was able to find and kill Awlaki with the help of its long-time close friend President Saleh, who took a little time off from murdering his own citizens to help the U.S. murder its. The U.S. thus transformed someone who was, at best, a marginal figure into a martyr, and again showed its true face to the world. The government and media search for The Next bin Laden has undoubtedly already commenced.

What's most striking about this is not that the U.S. Government has seized and exercised exactly the power the Fifth Amendment was designed to bar ("No person shall be deprived of life without due process of law"), and did so in a way that almost certainly violates core First Amendment protections (questions that will now never be decided in a court of law). What's most amazing is that its citizens will not merely refrain from objecting, but will stand and cheer the U.S. Government's new power to assassinate their fellow citizens, far from any battlefield, literally without a shred of due process from the U.S. Government. Many will celebrate the strong, decisive, Tough President's ability to eradicate the life of Anwar al-Awlaki -- including many who just so righteously condemned those Republican audience members as so terribly barbaric and crass for cheering Governor Perry's execution of scores of serial murderers and rapists -- criminals who were at least given a trial and appeals and the other trappings of due process before being killed.

From an authoritarian perspective, that's the genius of America's political culture. It not only finds way to obliterate the most basic individual liberties designed to safeguard citizens from consummate abuses of power (such as extinguishing the lives of citizens without due process). It actually gets its citizens to stand up and clap and even celebrate the destruction of those safeguards.

[Demeter]

37. A Nation of "Suspects"

http://www.truth-out.org/nation-suspects/1314810046

Supreme Court Justice William O. Douglas to a group of young lawyers at the Washington State Bar Association:

"As nightfall does not come all at once," he wrote, "neither does oppression. In both instances there is a twilight when everything remains seemingly unchanged. And it is in such twilight that we all must be most aware of change in the air - however slight - lest we become unwitting victims of the darkness."<1>

The recent dramatic expansion of intelligence collection at the federal, state and local level raises profound civil liberties concerns regarding freedoms and protections we have long taken for granted. If people generally appear unaware of "change in the air," a large part of the reason is the unparalleled resort to secrecy used by the government to keep its actions from public scrutiny. According to the new American Civil Liberties Union (ACLU) report, "Drastic Measures Required," under President Obama (who had vowed to create "an unprecedented level of openness in Government" when he first took office), there were no fewer than 76,795,945 decisions made to classify information in 2010 - eight times the number made in 2001.

There are layers of secrecy that cannot even be penetrated by most members of Congress. In the recent debate over the re-authorization of three sections of the USA Patriot Act with sunset provisions, Sen. Ron Wyden (D-Oregon), who is a member of the Joint Intelligence Committee, declared in the Senate in May 2011 that there was a secret interpretation of Patriot Act powers that he could not even tell them about without disclosing classified information. <2> "When the American people find out how their government has secretly interpreted the Patriot Act, they will be stunned and they will be angry," said Wyden. The determination of the Obama administration to imitate its predecessor and maintain a wall of secrecy around anything that could be connected (however tenuously) with "national security" is evident in the zeal with which it has pursued whistleblowers and its use of the state secrets privilege in judicial proceedings, including in the recent court challenge to the FBI use of the informant Craig Monteilh to spy on mosques in Orange County, California...During a decade of relentless fearmongering about the terrorist threat, most Americans appear to have accommodated themselves to the visible signs of change without questioning their broad implications. If searches on the subway, body scans at the airport and a Special Operations military drill targeting a Boston neighborhood are presented as necessary to keep the nation safe, they are for them.

But what would they make of the largely invisible architecture of surveillance that treats everyone as a potential suspect? Anyone who has a bank account and makes a financial transaction, or uses a phone or a computer to send emails or browse web sites, or visits a library, books a rental car, or purchases a airline ticket is within the surveillance net. The profiles that have been compiled on individuals by commercial data brokers might well have found their way into government databases, errors and all. A database error at El Paso Intelligence Center was responsible for John and Martha King being detained at gunpoint when they flew a single-engine plane into Santa Barbara airport. The plane had been wrongly reported as stolen. Or government errors might be imported into commercial databases. Take the case of Tom Kubbany of Humboldt County, California. He was denied a mortgage after a credit report flagged him as being on the Treasury Department's terrorism watch list. As far-fetched as it seems, he appears to have been so designated because his middle name, Hassan, matched an alias used by one of the sons of Saddam Hussein.

In addition to the harms perpetrated by database mistakes, databases containing sensitive information have been improperly accessed for a range of purposes. Erroll Southers, a former FBI agent who had been nominated by the White House to head the Transportation Security Administration (TSA), admitted in a letter to key senators that he had committed a "grave error in judgment" when he accessed criminal records to get information about his estranged wife's new boyfriend and passed it on to the police. In Massachusetts, police across the state were discovered to have repeatedly tapped into the state's criminal records system to gather information on celebrities and high-profile citizens, such as actor Matt Damon, singer James Taylor and football star Tom Brady. Politicians make an irresistible target, including presidential candidates whose private passport files were peeked into in 2008 by private contractors working for the federal government.

Some people may feel that the risk of data being wrong or misused is still a price worth paying in these fearful times, and that, anyway, they have nothing to hide since they haven't done anything wrong. It is unlikely that eight-year-old Mikey Hicks has done anything to earn government suspicion, but he has endured extra screening at airports since he was a toddler. Babies have been kept from boarding planes. The late senator Edward Kennedy, Rep. John Lewis (D-Georgia) and people with the names Robert Johnson and Gary Smith have struggled to get off terrorism watch lists. Former US assistant attorney general Jim Robinson - once the Justice Department's chief criminal prosecutor - has been delayed and interrogated at airports despite holding top secret security clearance. Former Marines with honorable discharges are also among those who are on the "no-fly" list and are not permitted to board planes...We don't know much about the process used to add people to watch lists, or about what constitutes a "credible tip." We do know that the use of data mining to assemble a chain of associations and digital linkages could have serious consequences for anyone flagged by an algorithm primed to detect suspicious behavior.

In November 2006, the Federal Register disclosed the existence of the Automated Targeting System, which relies on a 5.3 billion-record government database to assign a numerical "terrorism risk rating" to each traveler who leaves and enters the US by air, train or land - the higher the score, the higher the risk. The risk assessment data mining is carried out by analysts at the National Targeting Center run by Customs and Border Protection, and the risk profiles of individuals will be retained for 15 years (reduced from 40). An individual cannot see or challenge his or her rating, but that data can be shared with state, local and foreign governments and used in hiring and contracting decisions. One traveler who did manage to see the records collected on him through a Freedom of Information Act (FOIA) request discovered in his file a note from a Border Patrol officer about the book he was carrying with him at the airport, "Drugs and Your Rights."

What is next for the right to freedom of movement? TSA head John Pistole, a former FBI agent, wants to expand from 25 to 37 the number of its Visible Intermodal Prevention Response (VIPR) task forces. These teams of TSA agents, federal air marshals, behavior detection and canine officers conducted some 8,000 searches of ports, ferries, subways, railway and bus stations, bridges, and private cars and trucks over the past year, including the warrantless search of all the passengers who were getting off an Amtrak train in Savannah, Georgia.

The Department of Homeland Security (DHS) is meanwhile testing Future Attribute Screening Technology (FAST), which purportedly would expose criminal intentions by using sensors to measure flicking eyes and rapid blinks and scan for elevated blood pressure. Detecting "malintent" to fight terrorism is the theme of many of the programs in which the DHS is pouring millions of dollars, from the Insider Threat Detection Project, which derives and validates "observable indicators of potential insider threats before the insider commits a hostile act," to the Violent Intent Modeling and Simulation project, which assists analysts in "determining whether radical groups are likely to engage in political violence."

It is not just the First Amendment rights to freedom of expression, assembly and religion and Fourth Amendment protections against unreasonable searches and seizures that are endangered by the emerging surveillance state. When algorithms detect "pre-crime" in a world in which we are all potential suspects, we have sacrificed such core values as the presumption of innocence and the right to privacy.<3>

The more the United States is transformed into a nation of citizen spies, the greater the risk to personal privacy - the "right to be let alone," in former Supreme Court Justice Louis Brandeis' words. This risk was well recognized in 2002, when a public outcry greeted then-attorney general John Ashcroft's Operation Terrorism Information and Prevention System (TIPS), which was intended to recruit workers with access to private homes to be the government's "eyes and ears" to gather information to be deposited in law- enforcement databases. The intensity of the opposition led Congress to explicitly cancel the program later that year, but, like the Defense Advanced Research Projects Agency's (DARPA) Total Information Awareness program, it has lived on in subsequent operations involving various kinds of "terrorism liaison officers." For instance, firefighters in major cities have been trained by the DHS "to be alert for a person who is hostile, uncooperative or expressing hate or discontent with the United States" or to be on the lookout for people who have "little or no furniture other than a bed or mattress." It is not just the nation's police forces that have been trained to compile Suspicious Activity Reports (now the subject of FOIA litigation). School bus drivers are being enlisted in the fight against terrorism, and 20,000 mall security guards are being recruited to spot terrorists among shoppers, while the DHS' "If you see something, say something" campaign is being expanded from transport systems to Walmart stores, the Mall of America, hotels and the sports industry.

Along with human eyes, the nation's inhabitants are increasingly likely to be watched by high-tech surveillance camera networks erected through lavish DHS grants. Lower Manhattan has 3,000 in place as part of its "Ring of Steel" - which includes radiation detectors and automatic license plate readers to track cars.

Modern cameras are not just extremely powerful. They have the potential to be fitted with facial recognition software, eye scans, X-ray vision, radio frequency identification tags and 3-D tracking devices. The digital information they record can be immediately fed to fusion center and law enforcement databases to enhance a target's personal profile. And they are ripe for abuse: in April 2009, two FBI workers in an FBI satellite control room used surveillance cameras to spy on teenage girls as they were trying on prom gowns in a West Virginia mall.

As evidence grows of the harmful impact of surveillance technologies on personal lives and our notion of ourselves as a people, will communities organize to roll back the surveillance state? Or are "we the people" destined to become "unwitting victims of the darkness"? In our final post, we will turn to the potential for resistance.


1. September 10, 1976.

2. There is speculation that the Obama administration is using Section 215 of the USA Patriot Act for a "classified-collection program" under which it collects phone location data. See Time Magazine, June 24, 2011.

3. We have entered the territory of the 2002 film "Minority Report," which features a specialized "Department of Pre-Crime'" where psychic "precogs" discern which "criminals" to pursue before they commit crimes.

[Loge23]

63. We've already been considered guilty.

One has to look no further than your local airport to see that we've already been declared guilty - we now must prove ourselves to be innocent just to function normally.
In NYC, the NYPD works hand-in-hand with the CIA of all agencies! The FBI, no historical friend to civil liberties, complains that even they don't know about the NYPD/CIA activities!
Walk down any street in NYC and smile for the camera. I'm sure all of the OccupyWS people have all been identified, investigated, and are now actively on whatever "list" the "authorities" compile for these events.
Don't like your neighbor? Report him/her for "suspicious activities". Even if nothing comes of it they will be investigated.
How many times does this happen??

[Demeter]

66. We ARE guilty

Guilty of being Americans, but not Obscenely Wealthy ones.

Guilty of believing in all that stuff we learned in Civics and History classes:

1. Habeas Corpus
   
2. Rule of Law and Government of Laws, not Men
   
3. Constitution and the Bill of Rights
   
4. Innocent until Proven Guilty
   
5. Equality
   
6. Liberty
   
7. Justice
   
8. One Man, One Vote in Free and Fair Elections
   
9. Peaceful Assembly
   
   

I'm sure there are others....

[westerebus]

45. Carl Schmitt .

If you know his work, you understand the possibilities.

[Demeter]

48. Link? Clue?

[westerebus]

50. Just type his name into your browser.

Reich political law theorist.


* I'm horrible at links, sorry.

[plumbob]

77. Yes, the US is officially dead as a country today. It's been on life support

for years, but it is now officially a toy for the rich and powerful to play with.

I hate that...

[Fuddnik]

55. Damn! That was going to be my sign in DC next week!

"Either the rich start paying their taxes, or we start eating them".

[AnneD]

58. Bankers....

The other white meat.

CEO, It's what's for dinner.

WS Helper...no wait, I think it might refers to Ben or Timmy. And besides, it might leave one with indigestion. I know Obama's re-election team is already reaching for the Tums.

[Fuddnik]

67. I like those ideas.

[Demeter]

68. Go with it! It's a Classic!

Start a tradition.

[Ghost Dog]

80. Very, very nice!

:hi:

[xchrom]

20. europe:Bailouts provide liquidity but do not address structural issues in Eurozone:

http://economictimes.indiatimes.com/opinion/interviews/bailouts-provide-liquidity-but-do-not-address-structural-issues-in-eurozone-charles-stucke-guggenheim-partners/articleshow/10182593.cms

Bailouts provide liquidity but do not address structural issues in Eurozone: Charles Stucke, Guggenheim Partners

n an interview with ET Now, Charles Stucke, Sr Managing Director, Guggenheim Partners, gave his views on global markets and Euro zone crisis. Excerpts:

ET Now: Europe and US have been rallying after the German vote, does it seem like this equity rally can last and if so for how long?

Charles Stucke: In terms of an equity rally, medium term and long term are quite bullish on equity markets. If you look both globally and in particular US equity markets, you will find that PEs related to interest rates are at or near all time lows that provide the strong foundation for support for rallies in equity markets. However we do think that in the near term, volatility will persist if the global economic data provides greater clarity.

ET Now: What is the road ahead? Now the Germany's parliament has approved new powers for the Eurozone's rescue fund and do you think IMF and EU will agree upon additional tranche of aid for Greece now?

Charles Stucke: In terms of the situation in Greece and the European banking situation, our primary concerns are with both the French and German banks. We believe that bailouts provide liquidity but do not address structural issues. We think that the structural issues are going to persist in Europe for sometime now and when we look at the action of governments and regulators in this environment, we think that actions are going to pivot the focus more on shoring up the balance sheets of the French and German banks than on addressing the solvency of sovereign Greek debt.

[xchrom]

24. Stocks in Europe Fall Amid Signs of Slower Growth; U.S. Index Futures Drop

http://www.bloomberg.com/news/2011-09-30/european-stock-futures-decline-asian-shares-u-s-futures-drop.html

European stocks fell, trimming the Stoxx Europe 600 Index’s largest weekly advance in 14 months, as reports on Chinese manufacturing and German retail sales added to concern the economy is slowing. Asian shares and U.S. index futures declined.

Deutsche Bank AG (DBK) lost 7.1 percent as Handelsblatt reported that Germany’s biggest lender may lower its profit target. Metro AG (MEO) fell 4.2 percent after German retail sales declined the most in more than four years in August. Royal Philips Electronics NV tumbled 5.7 percent as HSBC Holdings Plc cut its earnings estimates for the company.

The Stoxx 600 fell 1.6 percent to 225.24 at 12:51 p.m. in London. The measure has rallied 4.2 percent this week as policy makers increased efforts to contain the region’s debt crisis and U.S. jobs and growth data exceeded forecasts. The gauge is still heading for the biggest quarterly decline since 2008, having plunged 18 percent since the end of June. The index has dropped 5.3 percent in September, a fifth straight month of losses.

“The situation is quite dark right now,” said Philipp Musil, who helps manage about $11 billion at Semper Constantia Privatbank AG in Vienna. “We’re very cautious about equities. All in all the figures are not good and many investors think we’re going straight into a recession.”

[xchrom]

26. here's your SURPRISE report: Germany’s Retail Sales Declined More Than Economists Forecast in August

http://www.bloomberg.com/news/2011-09-30/german-retail-sales-drop-most-in-more-than-four-years-on-crisis-concerns.html

German retail sales declined the most in more than four years in August as concerns about the economic impact of Europe’s sovereign debt crisis sapped consumers’ willingness to spend.

Sales, adjusted for inflation and seasonal swings, slumped 2.9 from July, when they rose 0.3 percent, the Federal Statistics Office in Wiesbaden said today. That’s the biggest drop since May 2007. Economists forecast sales would fall 0.5 percent, according to the median of 18 estimates in a Bloomberg News survey. Sales rose 2.2 percent in the year.

The debt crisis is threatening to tip Europe back into recession, damping confidence even as falling German unemployment boosts household purchasing power in Europe’s largest economy. While a possible Greek default has clouded the outlook, the Bundesbank still predicts a “robust” third quarter and growth of about 3 percent this year.

The retail sales figures “are volatile and don’t reflect that the trend remains positive as consumer confidence is actually holding up relatively well,” said Christian Schulz, an economist at Joh. Berenberg Gossler & Co in London. “However, the crisis may prompt households to postpone some big-ticket purchases this winter.”

[xchrom]

27. Germany’s DAX Index Slides, Extending Biggest Quarterly Drop Since 2002

http://www.bloomberg.com/news/2011-09-30/germany-stocks-fall-extending-biggest-quarterly-drop-since-2002.html

German stocks fell, extending the benchmark DAX Index (DAX)’s biggest quarterly drop in nine years, as a decline in the nation’s retail sales increased concern the global economy is slowing.

Metro AG (MEO) and Adidas AG (ADS) paced the retreat after German retail sales declined the most in more than four years in August. Bayerische Motoren Werke AG (BMW) and Daimler AG (DAI) dropped as a gauge of Chinese manufacturing shrank for a third month. Deutsche Bank AG (DBK) slid following a report in Handelsblatt that the company may cut its profit goal for this year.

The DAX fell 3.2 percent to 5,461.09 at 12:32 p.m. in Frankfurt. The gauge has slumped 26 percent this quarter, the most since 2002, amid concern global growth is stumbling and policy makers are struggling to contain the European debt crisis. The broader HDAX Index lost 3.2 percent today.

“Consumer sentiment is coming down rapidly,” Heino Ruland, an economist at Ruland Research GmbH in Eppstein, Germany, wrote in a report today. “Recent public talk about a looming recession in the euro area and the U.S. has lifted unemployment expectations considerably. Fears over the state of the global economy are beginning to take its toll.”

[Demeter]

21. 26 states appeal health care law to Supreme Court

http://news.yahoo.com/26-states-appeal-health-care-law-supreme-court-183548583.html

States and a business group opposed to President Barack Obama's health care overhaul asked the Supreme Court on Wednesday for a speedy ruling that puts an end to the law aimed at extending insurance coverage to more than 30 million people.

The high court should strike down the entire law, not just the main requirement that individuals purchase insurance or pay a penalty beginning in 2014, their appeals said...

NOW THAT'S AN EXTREMIST REQUEST. I DON'T THINK THE DANCING SUPREMES WILL HAVE THE GALL TO TOTALLY NULLIFY IT. THERE ARE PARTS THAT ARE LEGAL, CONSTITUTIONAL AND USEFUL.

[Demeter]

34. Obama Asks Supreme Court to Settle Constitutionality of Health Care Law

NOW, IS THAT STUPID, OR WHAT?

http://www.truth-out.org/obama-asks-supreme-court-settle-constitutionality-health-care-law/1317303102

The Obama administration on Wednesday formally asked the Supreme Court to review its controversial health care law, a move that's likely to set up a blockbuster election-year decision.

Hot on the heels of an appellate court defeat, the Justice Department late Wednesday afternoon filed the 34-page petition urging the court to uphold the law's ambitious mandate that individuals be covered by insurance.

The 11th U.S. Circuit Court of Appeals in Atlanta last month struck down the so-called individual mandate.

"The department has consistently and successfully defended this law in several court of appeals, and only the 11th Circuit Court of Appeals has ruled it unconstitutional," the Justice Department said in a written statement. "We believe the question is appropriate for review by the Supreme Court."

HE'S GOT A POLITICAL TIN EAR....IT'S ALL OVER, KIDS.

[Demeter]

46. Thom Hartmann: Montana Follows Vermont's Lead on Path to State-Level Single-Payer Health Care

http://www.truth-out.org/montana-follows-vermonts-lead-path-state-level-single-payer-system-and-more/1317311418

VIDEO AND TRANSCRIPT AT LINK

[xchrom]

28. and there's a SURPRISE in here: Consumer Spending in U.S. Slowed in August

http://www.bloomberg.com/news/2011-09-30/consumer-spending-in-u-s-slowed-in-august-as-incomes-unexpectedly-dropped.html

Consumer spending in the U.S. slowed in August as incomes unexpectedly dropped for the first time in almost two years, forcing households to use up savings.

Purchases rose 0.2 percent after a 0.7 percent increase the prior month, Commerce Department figures showed today in Washington. A 0.2 percent advance in prices wiped out the gain in so-called nominal, or unadjusted, spending. Incomes decreased 0.1 percent, the first decline since October 2009.

Little hiring, stagnant wages and a plunge in stocks have shaken confidence in the recovery that began two years ago, which may hurt sales at retailers like Best Buy Co. and Target Corp. The sputtering economy has prompted policy makers from President Barack Obama to the Federal Reserve to take additional action in a bid to prevent another recession.

“There’s not going to be health in consumer spending as long as the employment situation is weak,” said Stephen Stanley, chief economist at Pierpont Securities LLC in Stamford, Connecticut. “The combination of softness on the employment side coupled with a pretty steady increase in prices is causing people to dip into savings.”

[Roland99]

31. That's not good. That's right at back-to-school time. Supplies, clothes, etc...

[Demeter]

39. With all the teachers laid off, there may be no school to shop for

I never imagined things could get this bad, this fast. Has everyone taken leave of their senses?

[plumbob]

78. 49,000 Texas teachers alone lost their jobs this year.

More to come next year when even lower state funds will be avaiable. Our own social studies department at the high I teach went from 20 to 20 teachers, while enrollment rose by 350 from last year.

[AnneD]

40. The HISD had the first ever.....

back to school expo. Many corperate donors and citizen donations were enlisted to give those students in need supplies, uniforms, vaccinations, etc. Community centers also had events. They were overflowing. It has been a big community effort this year as the need is so great.

edited to add....most of the teachers that protested their firings were rehired (65% so far). The budget will be worse next year, but our enrollment keeps going up.

[Roland99]

42. I got a bunch of free school supplies thru my employer this year

Covered most stuff for my high-schooler and her two daughters. We got the stuff ourselves for our kindergartner as my employer only offered supplies for up to 3 kids.

Saved us a few hundred.

[xchrom]

29. Tax-Exempt Securities Show Longest Winning Streak Since 2002: Muni Credit

http://www.bloomberg.com/news/2011-09-30/tax-exempt-securities-show-longest-winning-streak-since-2002-muni-credit.html

States and cities slashing borrowing to cut costs are driving the $2.9 trillion municipal- bond market to its sixth-straight month of positive total returns, the longest winning streak since 2002.

This year’s municipal sales totaled $165 billion as of Sept. 23, down about 40 percent from the period in 2010, according to data compiled by Bloomberg. At the same time, U.S. Treasuries have rallied, pushing down tax-exempt rates. Yields on top-rated municipals due in 10 years have fallen by 1.18 percentage points from the start of 2011.

While issuers including California and New York responded to declining interest rates by boosting total sales to $67 billion from July through this month, the biggest quarter since December, they’re unlikely to exceed last year’s record of $408 billion, when states and cities took advantage of the taxable Build America Bond program and its 35 percent federal subsidy on interest costs. The program ended Dec. 31.

“There’s been a light supply and strong demand,” Neil Klein, who manages $925 million at New York-based Carret Asset Management, said in an interview. “Numerous months in a row of positive returns are driven by that supply-and-demand dynamic.”

[mahatmakanejeeves]

43. Over the year, 1st quarter 2011 wages up 18.9% in Peoria, Ill.; national wages up 5.2%

Over the year, 1st quarter 2011 wages up 18.9% in Peoria, Ill.; national wages up 5.2%

From March 2010 to March 2011, employment increased in 256 of the 322
largest U.S. counties, the U.S. Bureau of Labor Statistics reported
today. Elkhart, Ind., posted the largest percentage increase, with a
gain of 6.2 percent over the year, compared with national job growth
of 1.3 percent. Within Elkhart, the largest employment increase
occurred in manufacturing, which gained 5,125 jobs over the year
(12.4 percent). Sacramento, Calif., experienced the largest over-the-
year percentage decrease in employment among the largest counties in
the U.S. with a loss of 1.6 percent.

The U.S. average weekly wage increased over the year by 5.2 percent
to $935 in the first quarter of 2011. Among the large counties in the
U.S., Peoria, Ill., had the largest over-the-year increase in average
weekly wages in the first quarter of 2011 with a gain of 18.9
percent. Within Peoria, professional and business services had the
largest impact on the county’s over-the-year increase in average
weekly wages. Williamson, Texas, experienced the largest decline in
average weekly wages with a loss of 3.8 percent over the year. County
employment and wage data are compiled under the Quarterly Census of
Employment and Wages (QCEW) program.

Table A. Large counties ranked by March 2011 employment, March 2010-11 employment increase, and March 2010-11 percent increase in employment

The table does not reproduce properly, so I can't include it.

[Demeter]

44. And's It's a Race for the Bottom -149 pts at open

[Demeter]

47. Time for the Daily Pilgrimage to Wound Care

See you all over the Weekend! Starts tonight, not too late, I hope.

[xchrom]

49. take care, miss demeter!

:hi:

[Demeter]

62. It's Awful Out There!

Cold and windy enough to rain sideways.

[Name removed]

54. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Festivito]

57. Debt: 09/28/2011 14,701,883,169,793.25 (DOWN 5,523,650,798.65) (Wed, UP a little.)

(UNDER the new 2011 debt limit of 14.694-trillion dollars by 407.883-billion dollars. Good day.)
Finally, a pool with internet.
(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 10,075,624,342,810.50 + 4,626,258,826,982.71
UP 753,695,258.10 + DOWN 6,277,346,056.75

Source: Debt to the penny:
http://www.treasurydirect.gov/NP/BPDLogin?application=np

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 313-Million person America.
If every American, man, woman and child puts in $3.19 THAT'S 1B$, and $3,194.97 makes 1T$.
A family of three: Mom, Dad, Child: $9.58, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 12 seconds we net gain another American, so at the end of the workday of the report, there should be 312,992,192 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $46,972.04.
A family of three owes $140,916.13. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 23 reports in the last 30 to 33 days.
The average for the last 23 reports is 2,089,346,820.69.
The average for the last 30 days would be 1,601,832,562.53.
The average for the last 33 days would be 1,456,211,420.48.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 247 reports in 363 days of FY2011 averaging 4.62B$ per report, 3.14B$/day.
Above line should be okay

PROJECTION:
There are 480 days remaining in this Obama 1st term.
By that time the debt could be between 15.4 and 17.2T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
09/28/2011 14,701,883,169,793.25 BHO (UP 4,075,006,120,880.13 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +1,651,794,027,380.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
FY2011 +1,140,260,138,901.50 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
Endof11 +1,146,542,563,909.22 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
09/08/2011 -006,211,008,386.30 --
09/09/2011 +000,079,600,651.10 ------------*******
09/12/2011 -000,033,661,156.40 ---- Mon
09/13/2011 -000,041,637,039.50 ----
09/14/2011 +000,269,185,032.20 ------------********
09/15/2011 +011,965,856,345.50 ------------**********
09/16/2011 +000,192,253,298.50 ------------********
09/19/2011 +000,239,468,823.00 ------------******** Mon
09/20/2011 +000,489,658,328.70 ------------********
09/21/2011 -000,003,830,602.70 -----
09/22/2011 -006,079,650,583.40 --
09/23/2011 -000,223,062,427.90 ---
09/26/2011 -000,182,235,462.20 --- Mon
09/27/2011 +000,549,667,986.00 ------------********
09/28/2011 +000,753,695,258.10 ------------********

1,764,300,064.70 Total of 15 above reports.

Heavy borrowing seems to start after 09/18/2008 while Bush was in power JUST BEFORE fiscal year end.
Bush admin borrowed $962,245,245,654.01 in those last 124 days in office crossing two fiscal years.
$360,093,093,653.42 in last 12 days of FY2008, and $602,152,152,000.59 in subsequent 112 days before leaving office.

For a prettier and more explanatory view of our nation's debt:
http://www.brillig.com/debt_clock
http://www.usdebtclock.org/
DUer primer on National debt

(Debt to the penny keeps changing. Stuff is missing. Best to keep our own history.) LAST REPORT:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=5010052&mesg_id=5010516

[Demeter]

60. Spain nationalizes 3 banks after cash injections

Ben Shalom Bernanke, pick up the white courtesy phone...


http://news.yahoo.com/spain-nationalizes-3-banks-cash-injections-111202049.html

Spain announced Friday it has nationalized three troubled banks that failed to meet new capital requirements and said the process of restructuring its financial sector is now complete...The Bank of Spain identified the three as Unnim, CatalunyaCaixa and NovacaixaGalicia. All three are the result of mergers of smaller savings banks known as cajas, a sector that was heavily exposed to Spain's imploded real estate sector. After capital injections, the government now owns more than 90 percent of the three banks' shares. All three are relatively small.

The new core capital requirements were announced by the government in February. The Spanish central bank says it has spent €7.5 billion ($10.2 billion) in recapitalizing the three now nationalized banks and in restructuring the wider financial sector. Unnim, for instance, has received nearly €1 billion in capital injections and loans from the government.

As Europe's sovereign debt crisis bit deep, the government started encouraging Spain's troubled cajas to merge, seeking strength in numbers. The worry was that if the sector collapsed, Spain would have to foot the bill and run the risk of becoming the latest euro zone country to need an international bailout.

Friday was the deadline for banks to raise their core capital ratios, to 8 or 10 percent depending on how a given entity is structured and if it listed or not. Cajas are not listed...

[Demeter]

61. Greeks told protests could derail bail-out

The head of Greece’s statistical agency has lashed out against a wildcat strike by employees, warning the protest could derail the approval by international lenders of the next tranche of the country’s bail-out loan.

Andreas Georgiou, chairman of Elstat (Hellenic Statistical Agency), told the Financial Times on Friday that he could not provide the figures needed to finalise the 2012 budget because of the walk-out.

”We will miss tonight’s deadline for sending final updated debt and deficit figures for 2010 to the troika (experts from the European Commission, International Monetary Fund and European Central Bank) because I and my team can’t get into the building to finish the job,” he said.

Read more >>
http://link.ft.com/r/A1TNOO/YB03L8/87I64/HYD690/L9F5MK/B7/t?a1=2011&a2=9&a3=30

[DemReadingDU]

70. good for the protesters

There's been enough of everyone's money bailing out the banksters.
Block all the doors

[Demeter]

69. Mortgage Fraud Reports Spike

http://www.thefiscaltimes.com/Articles/2011/09/28/AP-Mortgage-Fraud-Reports-Spike.aspx#page1

The wave of lawsuits and other demands from investors in mortgage-backed securities contributed to a big spike in reports of likely mortgage fraud during the second quarter, according to a Treasury Department report. The department's Financial Crimes Enforcement Network said Wednesday that it received 29,558 tips about possible mortgage fraud in the April-to-June period, an 88 percent leap from 15,727 in the 2010 second quarter.

A large majority of the tips examined during the second quarter involved mortgages closed during the height of the real estate bubble, the report said. In fact, 81 percent of the tips involved suspicious activities that occurred before 2008, while 63 percent involved mortgages inked four or more years ago.

The network receives the tips, called suspicious activity reports, because it enforces the law requiring banks to tell the government about questionable financial transactions. The agency helps track illegal money transfers, catch money launderers and shut down accounts linked to corrupt political leaders.

The spike in reports "is directly attributable to mortgage repurchase demands and special filings generated by several institutions," the report said. Director James H. Freis said the age of the loans in question is "an indication that financial institutions are uncovering fraud as they sift through defaulted mortgages." When banks bundled loans into bonds or resold them, the bonds were insured against default by bond insurers and the government-controlled mortgage giants Fannie Mae and Freddie Mac. To protect the insurers, the banks agreed to buy back loans that turned out to involve mortgage fraud. Now, repurchase demands from investors are increasingly coming through investor lawsuits. Such lawsuits typically highlight individual instances of borrowers omitting or misrepresenting their financial status to demonstrate that the mortgages backing the investments were faulty...The report said fake documentation, followed by debt-elimination scams and scams involving the fraudulent use of Social Security numbers topped the types of suspicious activity reported.

[RUMMYisFROSTED]

71. Roulette Wheel Bullshit!

Who do they think they're foolin'?

[RUMMYisFROSTED]

72. ...burning ring of fire..

[Hotler]

73. A different ring of fire.

Ladies and gentlemen please give a warm welcome to.....Social Distortion.
http://www.youtube.com/watch?v=96x_FiQIB6E

[Roland99]

74. 2:54pm - WHOOPS!! DJIA under 11k

Dow 10,980 -174 -1.56%
Nasdaq 2,435 -46 -1.85%
S&P 500 1,141 -20 -1.71%
GlobalDow 1,731 -40 -2.24%
Oil 79.20 -2.94 -3.58%
Gold 1,622 +5 +0.28%

[Roland99]

75. At Q3 close - Markets close at lowest levels of the day

Dow 10,913 -241 -2.16%
Nasdaq 2,415 -65 -2.63%
S&P 500 1,131 -29 -2.50%
GlobalDow 1,726 -45 -2.55%
Oil 78.81 -3.33 -4.05%
Gold 1,626 +8 +0.51%
Euro /$1US 1.3391 -0.0206
$1US / Yen 77.0650 0.2350
Pound / $1US 1.5591 -0.0035
Dollar Index 78.72 0.80
10yr T-note 1.90 -0.10
2yr T-note 0.26 -0.02