Daily Archives: November 12, 2008

Nov 12 2008

Democrats Mandatory health Insurance

Requiring all Americans to have health coverage will help end the shifting of costs of the uninsured to the insured,” Baucus said today in his plan. The requirement “would be enforced possibly through the U.S. tax system or some other point of contact between individuals and the government,” he said, without spelling out possible penalties.

Obama said during his campaign that making sure everyone had affordable coverage would be a priority in his administration, and Democrats in Congress have said they wanted to work closely with the new administration.

SOURCE: Bloomberg

The way to go, this would mean that there would be no more FREE healthcare for couch potatoes and illegals! The US Congressmen will decide if the American people can afford the cost or not, from knowing that most of them have always been on the rich side of life and have never experience the way middle class Americans live it does not look good.
My retirement pays half the cost for my insurance and it still cost me $350.00 a month so I hope everyone can afford to have it. My insurance is the same as the congressmen have which Obama said he could make it so everyone could get the Fed insurance. Good luck people!  Is this what you voted for?

Nov 12 2008

The Death of Ethanol: One Thing Wall Street Saw Coming

Once upon a time, ethanol was seen as the future of clean energy and as leading the U.S. to energy independence.

That was 2004, but Wall Street wised up fast that ethanol was ready for a bust. So, in 2006 and 2007, when Wall Street firms started investing their own money in renewable energy companies, they left ethanol far behind.

“It’s such a waste that the government gave free handouts and subsidies to grow a business that wasn’t sustainable,” said one investment banker familiar with the sector.

It is one of the few things Wall Street investment banks have gotten right lately, while private investors including Bill Gates and Richard Branson were bullish on ethanol as recently as January. We were thinking of this in reading about how this weekend ethanol producer VeraSun Energy filed for Chapter 11 bankruptcy protection. It was hardly a surprise, given that a month ago, VeraSun was predicting a steep loss and hired Morgan Stanley to evaluate its options. And the company isn’t alone; the entire ethanol sector is getting its comeuppance. Goldman Sachs Group analysts today dropped coverage of all ethanol companies because of the plunge in market valuations for ethanol companies and what the analyst see as their dim future.

It is unclear exactly how much Wall Street has poured into renewable energy; the most recent estimates, as of last December, held that Morgan Stanley had invested nearly $500 million of its money since early 2006. Merrill Lynch made a $35 million investment in geothermal firm Vulcan Power last year, and Goldman Sachs invested $2 billion from 2002 to 2008 in renewable energy companies. J.P. Morgan Chase invested about $843 million in wind projects this year. The entire renewable-energy sector had a market cap of around $170 billion as of a year ago–before the financial crisis struck–and the vast majority of companies there had market valuations below $500 million. Banks such as Morgan Stanley and J.P. Morgan typically invested small sums–$5 million here, $10 million there–in the hopes that the companies they chose would become market behemoths and they could turn a neat profit later.

SOURCE: Wall Street Journal

No wonder we’re having a big Wall Street melt down! So tell me why Obama is pushing this Ethanol instead of pushing for more drilling for oil and gas off shore? Why does he want to invest in a losing energy market?

LINKS:  Is There A Green/Energy Connection with Soro’s Goldman Sachs and Obama?

Nov 12 2008

Roman Catholic bishops say they will confront Barack Obama over his support for abortion rights.

The nation’s Roman Catholic bishops vowed Tuesday to forcefully confront the Obama administration over its support for abortion rights, saying the church and religious freedom could be under attack in the new presidential administration. 

In an impassioned discussion on Catholics in public life, several bishops said they would accept no compromise on abortion policy. Many condemned Catholics who had argued it was morally acceptable to back President-elect Obama because he pledged to reduce abortion rates. 

And several prelates promised to call out Catholic policy makers on their failures to follow church teaching. Bishop Joseph Martino of Scranton, Pa., singled out Vice President-elect Biden, a Catholic, Scranton native who supports abortion rights. 

“I cannot have a vice president-elect coming to Scranton to say he’s learned his values there when those values are utterly against the teachings of the Catholic Church,” Martino said. The Obama-Biden press office did not immediately respond to a request for comment. 

Archbishop Joseph Naumann of the Diocese of Kansas City in Kansas said politicians “can’t check your principles at the door of the legislature.” 

Naumann has said repeatedly that Kansas Gov. Kathleen Sebelius, a Catholic Democrat who supports abortion rights, should stop taking Holy Communion until she changes her stance. 

“They cannot call themselves Catholic when they violate such a core belief as the dignity of the unborn,” Naumann said Tuesday. 

The discussion occurred on the same day the bishops approved a new “Blessing of a Child in the Womb.” The prayer seeks a healthy pregnancy for the mother and makes a plea that “our civic rulers” perform their duties “while respecting the gift of human life.” 

Chicago Cardinal Francis George, president of the U.S. Conference of Catholic Bishops, is preparing a statement during the bishops’ fall meeting that will press Obama on abortion. 

The bishops suggested that the final document include the message that “aggressively pro-abortion policies” would be viewed “as an attack on the church.” 

Along with their theological opposition to the procedure, church leaders say they worry that any expansion in abortion rights could require Catholic hospitals to perform abortions or lose federal funding. Auxiliary Bishop Thomas Paprocki of Chicago said the hospitals would close rather than comply. 

SOURCE:  Read more at Fox News

Maybe we should do away with the secret ballets so that the Church would know who the 54 percent of Catholics that voted for Obama! Oh well only 4 years to put up with Obama or will you vote again for him? We Americans never learn when it comes to those lying politicians!