http://www.dailypaul.com/…

I just received this text message from a DELEGATE:
“We just had a group shot of all the RP delegates and alternates, the secret service came and started searching everyone and took anything RP related. We got it on video thought…”

Today at the Republican Nationa Convention, as the Ron Paul Delegates were taking a picture in front of the model White House inside the Convention Center, they were surrounded by Secret Service which proceded to search the bags of all the delegates. They took any and everything related to Ron Paul including signs, buttons, videos, slim jims, cards, even books.

Alternate Delegate Dennis Rothacker from Florida said “We were done taking the picture when Secret Service started walking into the room and surrounded us. There were about 30 of them. When they searched my bags they took my Ron Paul sign and turned a deaf ear to my complains, they just walked away.”

Delegate Ron Warner from Fairbanks Alaska added that as he was walking into the convention center today with about 15 Revolution Manifesto books, 20 DVD’s for Delegates, 20 Ron Paul buttons and a handful of other things, we was stopped by security which called on an obviously important higher up, who directed all the materials to be confiscated. She told him, and I quote “You can’t bring that in here, this is Mc Cain territory”

Dennis, Ron and the other delegates report being openly followed by secret service. He says that they had been monitored from the begining of the convention, but that now they are being shadowed constantly.

There are also reports of delegates being approached by security and told that they will be sumarily thrown out if they leave their assigned chair.

This is almost unbelievable but they refuse to even acknowledge Paul’s delegate votes or let  him on the convention floor like a normal ex-candidates. So, why not take the supporter’s material?

Hopefully that video gets out soon. I’m surprised they didn’t take the video.

http://www.nytimes.com/…

The Federal Reserve said Wednesday that it was extending its emergency borrowing program to Wall Street firms and was taking other steps to ease a tight credit market that has hobbled the national economy.  

The Fed said the program, where investment houses can tap the central bank for a quick source of cash, will be available through Jan 30. Originally the program, started on March 17, was supposed to last until mid-September.

Another program, where investment firms can temporarily swap more risky investments for super-safe Treasury securities also will continue through Jan. 30, the Fed said. And, it also will let commercial banks, in a separate program, be able to bid on cash loans that last longer — for 84 days, besides the 28-day loans now available.

The Fed said it was taking these steps “in light of continued fragile circumstances in financial markets.” The Fed said that the emergency borrowing program for investment houses and the program that lets investment firms temporarily borrow Treasury securities would be withdrawn should the Fed determine that conditions in financial markets are “no longer unusual and exigent.”

Starting Aug. 11, the Fed will give banks the option of bidding on 84-day cash loans from the Fed, besides the 28-day loans now available. Specifically, the Fed will conduct biweekly auctions. They will alternate between making available $75 billion in 28-day loans and $25 billion in 84-day loans. The steps expand a program started in December aimed at helping banks overcome their credit problems so that they can keep lending to customers.

The European Central Bank and the Swiss National Bank have informed the Fed that they also will make available to their banks similar 84-day cash loans. The Fed also increased its credit line with the European bank to $55 billion from $50 billion.

And the market rallies to the beat of their own destruction.

And in other news to rally against: Bush signs law to ‘help’ homeowners, Freddie and Fannie

President George W. Bush signed into law legislation that helps 400,000 homeowners facing foreclosure and extends a lifeline to Fannie Mae and Freddie Mac.

Bush signed the measure at the White House shortly after 7 a.m., spokesman Tony Fratto said. Treasury Secretary Henry Paulson, Housing and Urban Development Secretary Steve Preston and Federal Housing Administration Director Brian Montgomery were among those present.

“We look forward to putting in place new authorities to improve confidence and stability in markets, and to provide better oversight for Fannie Mae and Freddie Mac,” Fratto said.

The law is aimed at stemming foreclosures and halting a free-fall in housing prices by providing federal insurance for refinanced 30-year mortgages for homeowners struggling to make their monthly payments.

The measure also is designed to restore confidence in Fannie Mae and Freddie Mac by tightening regulations and authorizing the Treasury secretary to inject capital into the two biggest U.S. providers of mortgage money.

The Treasury chief, who was the lead lobbyist for the White House, persuaded Bush to back off a threatened veto over a section of the legislation that provides $3.9 billion in grants to states to buy and repair foreclosed properties. Bush said he regarded it as a bailout of lenders. Democrats said it would stabilize neighborhoods.

I think if they want to raise the prices of homes they should scrap this grants for buying and repairing properties and just blow up the homes on them. It’d be cheaper to the tax payers and the increase in scarcity will push up prices. Just like they’ve been doing with farmed products since the Great Depression.

http://www.bloomberg.com/…

Fannie Mae and Freddie Mac rose in Frankfurt after U.S. Treasury Secretary Henry Paulson said he will seek approval from Congress to shore up the mortgage finance companies by buying equity stakes and increasing lines of credit.

Fannie Mae gained 31 percent in German trading and Freddie Mac advanced 33 percent after Paulson said he would seek authority to buy unlimited amounts of equity. The Federal Reserve also agreed to lend directly to the two companies to help provide interim financing.

Paulson’s plan may put a floor under the shares, which dropped by about 50 percent last week on concern that shareholders would be wiped out if the companies collapsed or were taken over by the government. Concern that Washington-based Fannie Mae and Freddie Mac of McLean, Virginia, may collapse escalated last week, prompting Treasury, Federal Reserve and White House officials to forge a plan to rescue the companies should they be unable to fund themselves.

“Paulson said he would seek authority to buy unlimited amounts of equity.”

Hyperinflation, here we come?!

No wonder the stocks are up. Paulson is talking about turning all the cotton on the planet into FRNs.

http://www.msnbc.msn.com/id/25605640/

Bowing to President Bush’s demands, the Senate approved and sent the White House a bill Wednesday to overhaul bitterly disputed rules on secret government eavesdropping and shield telecommunications companies from lawsuits complaining they helped the U.S. spy on Americans.

The relatively one-sided vote, 69-28, came only after a lengthy and heated debate that pitted privacy and civil liberties concerns against the desire to prevent terrorist attacks. It ended almost a year of wrangling over surveillance rules and the president’s warrantless wiretapping program that was initiated after the Sept. 11, 2001, terrorist attacks.

The House passed the same bill last month, and Bush said he would sign it soon.

How completely not surprising that the Democrats would hand Bush and friends more dictatorial powers.

All the amendments were defeated. McCain didn’t bother to vote, Obama, Specter, Lieberman voted for it. Feingold, who had said “This president broke the law,” voted against it. As did Biden, Clinton, Schumer, Kerry and Dodd. Glad to see the NJ senators, Lautenberg and Menendez, voted Nay.

You can find the full list of how they all voted at GovTrack.us

They have legalized a major crime and transfered a huge amount of power, which they don’t have, to the executive branch. They don’t even fully know what they are giving immunities to. The information is highly classified. Just sad.

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Campaign season is just getting warmed up, but looking back on the primaries we’ve already seen plenty of the usual fare: candidates shaking hands, hanging out at diners, and scaring voters about foreigners who are taking your jobs.

Sometimes the threat comes from China, Japan, or outsourcing to India. Today, it’s NAFTA, the North American Free Trade Agreement—you know, all those Mexicans taking our jobs.

Senator Barack Obama joins the likes of CNN’s Lou Dobbs in decrying NAFTA. So many free trade foes fret about cheap foreign labor, yet they rarely holler about competitors who will work for far less than any foreigner. Politicians don’t pay much attention to it, but—from Terminator to Ice Pirates—Hollywood films have been warning us about humanity’s inevitable war against the machines.

“Now, think about it,” says Reason.tv host Drew Carey. “How are we supposed to compete against something that doesn’t get paid, doesn’t get health insurance, and never goes on breaks?”

Today, we don’t need human workers to book our travel, do our banking, or file our taxes. From factory workers to symphony conductors, countless workers are locked in battle with soulless job stealers known as computers, websites, and robots.

“No job is safe from the robot threat!” warns Carey. Of course, the warning is more than a little tongue-in-cheek. There’s no need to take a sledgehammer to a robot, because, although technology shakes up the labor market, it ends up giving us higher living standards as well as more and better job opportunities.

Like technology, trade gives us more good stuff than bad—yet Americans are likely to cheer technology and fear trade. No doubt TV talkers and White House wannabes will keep stoking our fears of foreigners until voters and viewers stop buying it—or until robots snag their jobs, too.

I don’t like regulated trade but if the alternative is one sided regulation the argument can be made for government treaties but they should not increase any restrictions or provide special treatment. That, however, is incredibly unlikely not to be included and therefore I think better to be safe then sorry and allow the grey/black market work around the regulations.

http://www.huffingtonpost.com/…

Call it campaign growing pains. Or bad luck. Or a combination of the two.

By any name, Sen. John McCain is hampered by missteps and self-generated controversy in the early days of the general election campaign for the White House.

Take his most recent trip through several states and the Canadian capital, a five-day span during which he courted conservatives and independents alike, raised more than $10 million and began detailing his considerable differences with Sen. Barack Obama on energy policy.

Still, on Tuesday, he criticized his rival for proposing a windfall profits tax on the oil industry. The attack was complicated by McCain’s earlier statement that he would consider the same thing.

The following day, he met with a group of Hispanics in Chicago. Aides who had kept word of the event secret were placed on the defensive within hours after one participant criticized some of McCain’s comments.

On Thursday, the Arizona senator flew to Iowa, a likely battleground state in the fall, where he expressed sympathy with victims of severe flooding and pledged support for federal recovery aid. The event was overshadowed by President Bush’s appearance elsewhere in the same state on the same day.

Friday’s trip to Canada brought more controversy.

McCain arrived aboard his chartered campaign jet, yet told reporters at a news conference, “this is not a political campaign trip.” The senator added he didn’t feel it was appropriate to have the government to pay “while I am the nominee of my party.”

The centerpiece of the six-hour visit was a speech to the Economic Club of Canada that amounted to a cross-border political attack. McCain criticized Obama, without mentioning him by name, for his opposition to the North American Free Trade Agreement.

“Demanding unilateral changes and threatening to abrogate an agreement that has increased trade and prosperity is nothing more than retreating behind protectionist walls,” he said.

McCain’s schedule also included mention of an unspecified “finance event.” While that is customarily campaign jargon for a fundraiser, foreigners may not donate to U.S. candidates, and one aide was quoted in advance as saying that money from $100-per-person event would simply defray the cost of the earlier luncheon.

The non-fundraiser, which may or may not have cost $100 to attend, was held on the top floor of a building with a commanding view of the city skyline. McCain said he knew some of those in attendance had homes in Arizona in the cold weather, and at one point, referred to his campaign themes of “reform, peace and prosperity.”

Reform? Like what? Is that like Obama’s “change” which equates to more of the same?

Peace? Like bombing brown people who happen to be a little pissed that the US federal government has invaded their countries, propped up dictators and otherwise force our way on them?

Prosperity? Like continuing the status quo corpatisim that exists in this country? By continuing the incredibly destructive and immoral system known as the Federal Reserve? By offering bailouts of failing companies and subsidizing big businesses?

It’s sad the man took two thirds of another presidential candidate’s slogan. Freedom, peace and prosperity sounds better though. And we know the man who was saying it meant it.