I just love Obama’s latest “Fight the Smear” article titled “Barack Obama does not take advice from Fannie Mae executives” in which they try to dismiss claims of Obama’s ties to several Fannie Mae executives. The funny thing is not what is written in the article, but what the reader is supposed to take away from reading it. First, look at this screen shot:
Notice anything funny about it? Well something that should jump off the page is the fact that the picture next to the story has both Fannie Mae and Freddie Mac’s logos in it. Hmmm…and I thought the story was only about Fannie Mae. See what kind of the subliminal messages that image can convey? Instead of just refuting his ties to Fannie, that images gives him the added bonus of rejecting his ties to Freddie as well.
But enough with the subliminal, lets move on to more pressing issues at hand, like the fact that even though Obama may have never taken advice from Fannie executives, he sure has received a lot of money from from both Fannie and Freddie. Take a look, the contributions he has received from PACs and individuals connected with these companies is only second to Senator Chris Dodd.
So while this Fight the Smear tries to hit two birds with one stone, remember that even though he might not have taken any advice, he sure has taken a lot of cash and I really can’t blame him. Who would want to take advice from executives of failing companies anyways? Money is so much better.
Well I’m back from Asheville not too much worse for the wear. Had a little run-in with an infection in my leg but the antibiotics seem to have everything under control. Just wanted to leave you with this video I saw over at IMAO.
A days ago, I conducted an interview with South Carolina State Representative Nathan Ballentine about the current finantial situation. Now the situation has obviously gotten worse from Wednesday but this interview still has some good information so check it out.
- Click here for the interview
The Atlanta firm Green Bios Technologies has recieved a liscense to produce an algae bioreactor developed by Ohio University.
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This bioreactor is the creation of renowned engineer David Bayless and the company plans to develop this for uses ranging from biofuel to pharmaceuticals.
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While this bioreactor has the signiture of others currently being used, there are some propriety apsects of it that make it different from anything else offered on the market.
- Click here for more on this
I’m going to be in Asheville, NC for fall break so this means that the next few days post are going to be more erratic than usual. I apologize ahead of time.
October 8th, 2008 at 2:57pm by Jonathan Williams |
Posted in My Life | No Comments »
Going off my previous post from Friday, the Dow has now fallen a total of 825 points since the passage of the bailout.
Just to make sure you are reading this correctly, I said the Dow is down a total of 825 points from Friday around 1:20 (when the bailout passed). Today it only dropped another 370 points which is better than the 800 points that it reached around 2:45 today.
Algae biofuel producer PetroSun has teamed up with Shanghai Jun Ya Yan Technology to build a commercial scale algae farm in China. Profits will be split evenly between the two parties.
- Click for more on this story
I’m not even going to pretend that I understand the stock market but it does seem a little counter intuitive that the stock market saw a massive drop after the bailout was passed.
Now take a look at this and pay attention to what time it was at the highpoint before stocks started to fall (upper left-hand corner):
It was around 1:20 when the stock started to fall. Guess what time the bailout passed? Yep, you guessed it, right around 1:20. This means that from around 1:20 to close at 4:00, the Dow dropped over 450 points.
This leaves some questions for me:
What made the Dow go up almost 300 points before the bailout passed? It seems to not be the bailout since its passage seemed to have sent it into a downward spiral.
Was the downward spiral just the marketplace correcting itself? Were people betting on it not passing and had to change plans after it passed
Will this downward spiral continue on Monday? If that happens, why in the world did we even bother with this bailout?
Will bailout supporters use this drop as evidence to support the passage of the bailout? By this I mean will they say that the drop would have been much worse if it hadn’t passed.
Once again, I’m not an economist by any means, I’m just looking at what the numbers say and trying to make sense of it all. if you can answer any of these questions, please do so in the comments.
