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	<title>Economical and Financial News</title>
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	<description>at FREESTANDFINANCIAL.NET</description>
	<pubDate>Sat, 04 Oct 2008 21:44:17 +0000</pubDate>
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		<title>Wells bids $15 billion for Wachovia; scuffles with Citi</title>
		<link>http://freestandfinancial.net/2008/10/wells-bids-15-billion-for-wachovia-scuffles-with-citi/</link>
		<comments>http://freestandfinancial.net/2008/10/wells-bids-15-billion-for-wachovia-scuffles-with-citi/#comments</comments>
		<pubDate>Sat, 04 Oct 2008 21:44:17 +0000</pubDate>
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		<guid isPermaLink="false">http://freestandfinancial.net/2008/10/wells-bids-15-billion-for-wachovia-scuffles-with-citi/</guid>
		<description><![CDATA[NEW YORK (Reuters) - Wells Fargo &#038; Co agreed to buy Wachovia Corp for about $15 billion, upstaging a government-backed Citigroup Inc bid for Wachovia&#8217;s banking assets with a deal that would catapult it into the top ranks of national consumer banking.


  


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			<content:encoded><![CDATA[<p>NEW YORK (Reuters) - Wells Fargo &#038; Co agreed to buy Wachovia Corp for about $15 billion, upstaging a government-backed Citigroup Inc bid for Wachovia&#8217;s banking assets with a deal that would catapult it into the top ranks of national consumer banking.</p>
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		<title>Palin / Reagan / Medicare Mashup</title>
		<link>http://freestandfinancial.net/2008/10/palin-reagan-medicare-mashup/</link>
		<comments>http://freestandfinancial.net/2008/10/palin-reagan-medicare-mashup/#comments</comments>
		<pubDate>Sat, 04 Oct 2008 21:44:01 +0000</pubDate>
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		<guid isPermaLink="false">http://freestandfinancial.net/2008/10/palin-reagan-medicare-mashup/</guid>
		<description><![CDATA[Igor Volsky&#8217;s got the video mash-up of Sarah Palin sampling Ronald Reagan&#8217;s dire 1961 prediction that Medicare would put us on the road to serfdom, followed by Reagan discussing the issue:

It&#8217;s worth being reminded now and again that conservatives really believed this stuff. That Medicare would lead to the eradication of freedom. That the Civil [...]]]></description>
			<content:encoded><![CDATA[<p>Igor Volsky&#8217;s <a href="http://wonkroom.thinkprogress.org/2008/10/03/palin-reagan/">got the video mash-up</a> of Sarah Palin sampling Ronald Reagan&#8217;s dire 1961 prediction that Medicare would put us on the road to serfdom, followed by Reagan discussing the issue:</p>
<p><center><object width="340" height="275"><param name="movie" value="http://www.youtube.com/v/_IQJjtU339I&#038;hl=en&#038;fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/_IQJjtU339I&#038;hl=en&#038;fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="340" height="275"></embed></object></center></p>
<p>It&#8217;s worth being reminded now and again that conservatives really believed this stuff. That Medicare would lead to the eradication of freedom. That the Civil Rights Act was a horrible abridgment of American liberty. That withdrawal from Vietnam would lead to Soviet global domination. That Bill Clinton&#8217;s 1993 budget would destroy the economy. And that the people responsible for those &#8212; Reagan, Goldwater, Gingrich, etc. &#8212; ideas are heroes to be admired.</p>
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		<title>SocGen solid, ready to look at acquisitions: CEO</title>
		<link>http://freestandfinancial.net/2008/10/socgen-solid-ready-to-look-at-acquisitions-ceo/</link>
		<comments>http://freestandfinancial.net/2008/10/socgen-solid-ready-to-look-at-acquisitions-ceo/#comments</comments>
		<pubDate>Sat, 04 Oct 2008 21:43:17 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
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		<description><![CDATA[PARIS (Reuters) - French bank Societe Generale , hit by a massive rogue trading scandal this year, is solid and is ready to look at acquisitions, chief executive Frederic Oudea told Le Parisien newspaper.


  


]]></description>
			<content:encoded><![CDATA[<p>PARIS (Reuters) - French bank Societe Generale , hit by a massive rogue trading scandal this year, is solid and is ready to look at acquisitions, chief executive Frederic Oudea told Le Parisien newspaper.</p>
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		<title>Lehman creditors seek to probe firm: report</title>
		<link>http://freestandfinancial.net/2008/10/lehman-creditors-seek-to-probe-firm-report/</link>
		<comments>http://freestandfinancial.net/2008/10/lehman-creditors-seek-to-probe-firm-report/#comments</comments>
		<pubDate>Sat, 04 Oct 2008 21:43:01 +0000</pubDate>
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		<description><![CDATA[NEW YORK (Reuters) - Unsecured creditors of Lehman Brothers Holdings Inc asked a court overseeing Lehman&#8217;s bankruptcy proceedings for permission to investigate how the firm ran out of money, The Wall Street Journal reported on its website on Friday.


  


]]></description>
			<content:encoded><![CDATA[<p>NEW YORK (Reuters) - Unsecured creditors of Lehman Brothers Holdings Inc asked a court overseeing Lehman&#8217;s bankruptcy proceedings for permission to investigate how the firm ran out of money, The Wall Street Journal reported on its website on Friday.</p>
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		<title>Breakthrough</title>
		<link>http://freestandfinancial.net/2008/10/breakthrough/</link>
		<comments>http://freestandfinancial.net/2008/10/breakthrough/#comments</comments>
		<pubDate>Sat, 04 Oct 2008 21:42:17 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
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		<guid isPermaLink="false">http://freestandfinancial.net/2008/10/breakthrough/</guid>
		<description><![CDATA[There&#8217;s long been some sentiment that if Barack Obama wins the election it will not merely reflect improvements in the race/racism situation in the United States, but also possibly cause further improvements. I&#8217;ve always been a bit skeptical of that, but watching the recent controversy over Gwen Ifill&#8217;s book, the right-wing&#8217;s bizarre effort to blame [...]]]></description>
			<content:encoded><![CDATA[<p>There&#8217;s long been some sentiment that if Barack Obama wins the election it will not merely <em>reflect</em> improvements in the race/racism situation in the United States, but also possibly <em>cause</em> further improvements. I&#8217;ve always been a bit skeptical of that, but watching the recent controversy over Gwen Ifill&#8217;s book, the right-wing&#8217;s bizarre effort to blame the Community Reinvestment Act for the financial crisis, and the McCain campaign&#8217;s attacks on Obama&#8217;s non-existent ties to Frank Raines are making me realize that the reverse is likely to be the case. </p>
<p>For different reasons, both Bill Clinton and George W. Bush implemented political strategies that were designed to decrease the salience of racial issues in American politics. To Clinton, it was a way to render the Democratic Party safe for moderate white voters. For Bush, it was both a way of presenting himself as a &#8220;different kind&#8221; of Republicans and also an effort to broaden the GOP coalition to include more Hispanics. Those two strategies helped create the circumstances under which it&#8217;s possible for Obama to win. But an Obama victory would, on its own, transform the circumstances and elevate the salience of racial considerations. The McCain campaign has, thus far, hardly been playing by marquess of queensbury rules but (presumably fearing a media backlash) they&#8217;ve largely shied away from the explicitly racial stuff &#8212; didn&#8217;t have Sarah Palin wonder why Barack Obama thinks his kids deserve special treatment in college admissions that her kids don&#8217;t get &#8212; but it&#8217;s been bubbling up from the grassroots recently. On top of that, I think you&#8217;d have to assume that a McCain defeat would lead to the ascendancy of anti-immigrant forces within the GOP and the return of a political strategy that doesn&#8217;t really care about reaching out to non-whites which would, in turn, make post-2009 GOP candidates less wary of racialized attacks.</p>
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		<title>Belgium, Luxembourg scramble to sell Fortis</title>
		<link>http://freestandfinancial.net/2008/10/belgium-luxembourg-scramble-to-sell-fortis/</link>
		<comments>http://freestandfinancial.net/2008/10/belgium-luxembourg-scramble-to-sell-fortis/#comments</comments>
		<pubDate>Sat, 04 Oct 2008 21:42:02 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
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		<description><![CDATA[BRUSSELS/LUXEMBOURG (Reuters) - Belgium and Luxembourg scrambled on Saturday to find a buyer for the remains of troubled financial group Fortis   and mulled a further nationalization after the Netherlands took over its Dutch units.


  


]]></description>
			<content:encoded><![CDATA[<p>BRUSSELS/LUXEMBOURG (Reuters) - Belgium and Luxembourg scrambled on Saturday to find a buyer for the remains of troubled financial group Fortis   and mulled a further nationalization after the Netherlands took over its Dutch units.</p>
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		<title>Dow Jones FALLS as Bailout Passes</title>
		<link>http://freestandfinancial.net/2008/10/dow-jones-falls-as-bailout-passes/</link>
		<comments>http://freestandfinancial.net/2008/10/dow-jones-falls-as-bailout-passes/#comments</comments>
		<pubDate>Sat, 04 Oct 2008 21:41:18 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
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		<guid isPermaLink="false">http://freestandfinancial.net/2008/10/dow-jones-falls-as-bailout-passes/</guid>
		<description><![CDATA[Just as the last majority vote was cast to necessitate the passage of the bailout, and as CSPAN anchors were saying the Dow was on the rise, the Dow started (despite the anchor&#8217;s incorrect and embarassing words) falling! ?

And fall it did.

But why?

UPDATE: ?
(I learned a new concept!)
Buy the rumor, sell the news (google example)

Concept [...]]]></description>
			<content:encoded><![CDATA[<p>Just as the last majority vote was cast to necessitate the passage of the bailout, and as CSPAN anchors were saying the Dow was on the rise, the Dow started (despite the anchor&#8217;s incorrect and embarassing words) falling! ?
<div><br  /></div>
<div><a href="http://moneycentral.msn.com/investor/charts/chartdl.aspx?Symbol=$indu">And fall it did.</a></div>
<div><br  /></div>
<div>But why?</div>
<div><br  /></div>
<div>UPDATE: ?</div>
<div>(I learned a new concept!)</div>
<div><a href="http://www.usatoday.com/money/perfi/columnist/krantz/2007-02-21-google-drop_x.htm">Buy the rumor, sell the news (google example)</a></div>
<div><br  /></div>
<div>Concept makes obvious sense just never really gave it much thought before. ?</div>
<div><br  /></div>
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		<title>UBS management will earn less after crisis: report</title>
		<link>http://freestandfinancial.net/2008/10/ubs-management-will-earn-less-after-crisis-report/</link>
		<comments>http://freestandfinancial.net/2008/10/ubs-management-will-earn-less-after-crisis-report/#comments</comments>
		<pubDate>Sat, 04 Oct 2008 21:41:02 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
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		<description><![CDATA[ZURICH (Reuters) - UBS AG  will not introduce a cap on salaries, but management will earn less that before the credit crisis, the Swiss bank&#8217;s chairman said in an interview published on Saturday.


  


]]></description>
			<content:encoded><![CDATA[<p>ZURICH (Reuters) - UBS AG  will not introduce a cap on salaries, but management will earn less that before the credit crisis, the Swiss bank&#8217;s chairman said in an interview published on Saturday.</p>
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		<title>Hypo Real fights for life after rescue collapses</title>
		<link>http://freestandfinancial.net/2008/10/hypo-real-fights-for-life-after-rescue-collapses/</link>
		<comments>http://freestandfinancial.net/2008/10/hypo-real-fights-for-life-after-rescue-collapses/#comments</comments>
		<pubDate>Sat, 04 Oct 2008 21:40:18 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
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		<description><![CDATA[FRANKFURT (Reuters) - Property lender Hypo Real Estate (HRE)  fought for its life on Saturday after German banks and insurers pulled out of a state-led 35 billion euro ($48.5 billion) rescue program stitched together only days ago.


  


]]></description>
			<content:encoded><![CDATA[<p>FRANKFURT (Reuters) - Property lender Hypo Real Estate (HRE)  fought for its life on Saturday after German banks and insurers pulled out of a state-led 35 billion euro ($48.5 billion) rescue program stitched together only days ago.</p>
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		<title>Palin on Freedom of the Press</title>
		<link>http://freestandfinancial.net/2008/10/palin-on-freedom-of-the-press/</link>
		<comments>http://freestandfinancial.net/2008/10/palin-on-freedom-of-the-press/#comments</comments>
		<pubDate>Sat, 04 Oct 2008 21:40:02 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
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		<description><![CDATA[I guess any time she speaks sentences that were clearly intended to be in the English language she &#8220;beats expectations&#8221; and Rich Lowry sees starbursts so I suppose we should count this as another triumph:
As we send our young men and women overseas in a war zone to fight for democracy and freedoms, including freedom [...]]]></description>
			<content:encoded><![CDATA[<p>I guess any time she speaks sentences that were clearly intended to be in the English language she &#8220;beats expectations&#8221; and Rich Lowry <a href="http://corner.nationalreview.com/post/?q=NDYzMGFiNjQ0MWRjNmI0ZTlkYjgwZTExMjA3MWNiZTk=">sees starbursts</a> so I suppose we should <a href="http://blogs.abcnews.com/politicalpunch/2008/10/do-over-palin-a.html">count this</a> as another triumph:</p>
<blockquote><p>As we send our young men and women overseas in a war zone to fight for democracy and freedoms, including freedom of the press, we&#8217;ve really got to have a mutually beneficial relationship here with those fighting the freedom of the press, and then the press, though not taking advantage and exploiting a situation, perhaps they would want to capture and abuse the privilege. We just want truth, we want fairness, we want balance.</p>
</blockquote>
<p>Yes, indeed, a mutually beneficial relationship with those fighting the freedom of the press.</p>
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