Reuters: China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S. Treasury, in what is the Treasury's first-ever direct relationship with a foreign government. This means the People's Bank of China buys U.S. debt using a different method than any other central bank in the world. China is preserving the value of specific information about its bidding habits. By bidding directly, China prevents Wall Street banks from trying to exploit its huge presence in a given auction by driving up the price.
It is one of several courtesies provided to a buyer in a class by itself in terms of purchasing power. Although the Japanese, for example, own about $1.1 trillion of Treasuries, their purchasing has been less centralized. Buying by Japan is scattered among institutions, including pension funds, large Japanese banks and the Bank of Japan, without a single entity dominating.
Granting China a direct bidding link is not the first time Treasury has gone to great lengths to keep its largest client happy.
#1
It would appear to me that some checks and balances are in order. Perhaps business as usual. No budget, Health care passed without review. My concern is should we have a genuine attempt at spending cuts, like Greece and Spain we will have a major backlash. Should Obama lose this election he could return offering hope and change in four years. Should government cuts bite, then revenues will drop. Very difficult time to manage this mess with little or no wiggle room.
#3
Very difficult time to manage this mess with little or no wiggle room. Yes, indeed. Things just look stable. Our feckfearless leaders are kicking the can down the road as far as they can.
[Daily Caller] The controversial chairman of the Nuclear Regulatory Committee has resigned amid a stepped-up investigation by House Republicans.
Chairman Gregory Jaczko's resignation came two weeks after House government oversight chairman Rep. Darrell Issa suggested that he had lied to the committee in a December hearing called to investigate charges that Jaczko had abused his staff.
"Making false statements to Congress is a serious matter," said Issa's May 7 letter to Jaczko.
"The committee has afforded you ample opportunity to clarify your [December] testimony, only to be met with silence... Your failure to respond will be taken into consideration as the Committee evaluates further investigative actions," the letter said.
Jaczko was appointed chairman of the commission by Obama in 2009, after working as a congressional staffer for Democrats Rep. Ed Markey ...U.S. Representative-for-Life from Massachusetts, serving since 1976. He is a member of the Democratic Party, naturally.... and Sen. Harry Reid ... the charismatic senator-for-life from Nevada, currently majority leader ... .
Posted by: Fred ||
05/22/2012 00:00 ||
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[Iran Press TV] Dozens of Roman Catholic dioceses, schools and other institutions sued the B.O. regime Monday over a government mandate requiring most employers to provide birth control coverage as part of their employee health plans.
The lawsuits filed in federal courts around the country represent the largest push against the mandate since President Barack Obama B.O.... announced the policy in January. Among those suing are the University of Notre Dame, the Archdioceses of Washington, New York and Michigan, and the Catholic University of America.
"We have tried negotiation with the administration and legislation with the Congress, and we'll keep at it, but there's still no fix," said New York Cardinal Timothy Dolan, president of the U.S. Conference of Catholic Bishops. "Time is running out, and our valuable ministries and fundamental rights hang in the balance, so we have to resort to the courts now."
The U.S. Health and Human Services Department adopted the rule to improve health care for women. Last year, an advisory panel from the Institute of Medicine, which advises the federal government, recommended including birth control on the list of covered services, partly because it promotes maternal and child health by allowing women to space their pregnancies.
However, ars longa, vita brevis... faith leaders from across religious traditions protested, saying the mandate violates religious freedom. The original rule includes a religious exemption that allows houses of worship to opt-out of the mandate, but keeps the requirement in place for religiously affiliated charities.
In response to the political furor, Obama offered to soften the rule so that insurers would pay for birth control instead of religious groups. However, women are made to be loved, not understood... the bishops and others have said that the accommodation doesn't go far enough.
Health and Human Services spokeswoman Erin Shields said Monday that the department does not comment on pending litigation.
Posted by: Fred ||
05/22/2012 00:00 ||
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#1
These folks are standing up for a principle. No wonder they're having trouble communicating with Obama.
Posted by: Matt ||
05/22/2012 10:01 Comments ||
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#2
Obama offered to soften the rule so that insurers would pay for birth control instead of religious groups.
If the insurance companies pay for it, where do they get thier money? Thats right, from the premiums paid to them.
See? This is the fundamental problem: Either Obama is so stupid he believes what he said, or is so brazen a liar he thinks people will accept such a blatantly stupid economic statement. The problem is, the leftists his followers *do* accept such stupidity and irrational thinking.
#4
The May 21 editions of ABCs World News and NBCs Nightly News refused to report the fact that 43 Catholic dioceses and organizations filed a lawsuit on Monday against the Obama administration. CBS Evening News gave this historic news a mere 19 seconds of air time. ...
Bias by omission ... They are now withholding news from the American people if it is harmful to the re-election of Barack Obama.
Its only among the largest religious liberty lawsuits filed, if not, in fact the largest in terms of impact.
And thus the "mainstream" media are harmful to the Republic. They will become one of the initial targets if it comes down to violence, justifiably so, IMHO. Complicit editors hanged from lamp posts, etc...
#5
The fourth estate has become our fifth column in the U.S. The MSM has become a subversive body that is working actively to undermine our freedoms. Basically the propaganda arm of the progressives/Democratic Party.
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
"Making false statements to Congress is a serious matter," said Issa's May 7 letter to Jaczko.
[Iran Press TV] Dozens of Roman Catholic dioceses, schools and other institutions sued the 
