EconomicCrisis.US

Executives at Goldman Sachs were told last week that they could expect to receive their highest ever bonuses this year, according to an article published Sunday in London’s Observer newspaper. The first half of this year has seen a spectacular rebound for Goldman, and the company’s London staff were told they would receive corresponding end-of-year bonuses if, as expected, the bank sets a new profit record.

These bonuses will be paid for by the American people. Besides receiving over $10 billion in cash from the US government last year, Goldman Sachs was the largest beneficiary of the government bailout of American International Group (AIG), receiving $12.9 billion to cover funds owed to it by the failed insurance giant.
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The House of Representatives will vote Friday on the so-called “American Clean Energy and Security Act of 2009” — a.k.a the “Waxman-Markey” global warming bill. But whatever you want to call this legislative atrocity, if enacted into law, it will go down in history as the death knell of the American standard of living and way of life. If you hate America, this bill is for you.

After decades of fierce battling between rabid greens — that is, left-wingers masquerading as “environmentalists” — and the global warming skeptics, few Americans seem to have bought into the bill’s premise ­ that manmade emissions of carbon dioxide are causing the planet to run a fever, as Al Gore is fond of saying. Just this week, a public relations firm advising House Democrats recommended that the notion of “global warming” be dropped as a primary message since “almost no one in our focus groups expressed such concern.”
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President Obama’s financial regulatory plan has created controversy over the role of the Federal Reserve in our economy like rarely before. The person in Congress with perhaps the most unconventional point of view on these issues in American politics is Congressman and former presidential candidate Ron Paul (R-TX), a longtime critic of the very institution of the Fed and fractional reserve banking. He has recently sponsored a bill that would audit the Fed, which has attracted cosponsors such as Dennis Kucinich (D-OH).

I talked to Congressman Paul about his unique perspective and why the Fed is controversial again.
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Nassim Taleb