Saturday, September 27, 2008

WaMu Failure Shakes Seattle

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Sally Rawlings was one of the last people to buy shares in Washington Mutual Inc., showing faith that her hometown Seattle savings and loan would be able to weather its financial crisis. ``That was a mistake,'' she said of the purchase she made two days ago. ``I went to the symphony, and when I came out it had been seized and sold.'' She was among customers, workers and local residents stunned by the fate of the 119-year-old thrift, even after it put itself up for sale last week with an estimated $19 billion in losses on soured mortgage loans. WaMu was seized by federal regulators Sept. 25 and sold to JPMorgan Chase & Co. ``I was just walking by and saw the newspaper headlines and thought, `Whoa, that's my bank, I should check on my money,''' Amina Abdulle said after visiting a WaMu branch. ``The lady assured me nothing will change -- just the name.'' Signs at branches in Seattle still read, ``This way to a Whoo-hoo moment.'' If they asked, customers got a two-page handout explaining that all deposits had been transferred to New York-based JPMorgan. For many, the bigger issue is the loss of Seattle jobs and prestige that may follow the collapse. After surviving two world wars and the Great Depression, the thrift foundered because of bad mortgage loans. ``I'm not too happy,'' said Kelli Aggerbeck, who works in WaMu's treasury department. ``The management haven't given us any specifics on what will happen to workers yet. It's not a good thing, but it is good to have all the talk about what would happen from last week over with.'' Mass Withdrawals Federal regulators say WaMu became unsound after customers withdrew $16.7 billion starting Sept. 16, during a seesaw week that ended with the U.S. government's proposed $700 billion bailout of financial institutions. WaMu shares plummeted 60 percent this week before the Federal Deposit Insurance Corp. stepped in. Charles Scharf, who runs JPMorgan's retail bank, told reporters on a conference call yesterday that it's too early to say how many WaMu jobs may be cut. Just two years ago, WaMu erected a 42-story headquarters building in downtown Seattle. About 3,500 jobs there may be most at risk, said Stephen Lerch, the interim chief economist for Washington state. Workers in branches may be safer because JPMorgan doesn't overlap much with WaMu's base in Washington, Oregon and California, he said.

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Government takes over Washington Mutual
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Seattle, Washington/Northwest News, Weather, Traffic, Video, Sports
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Seattle, Washington/Northwest News, Weather, Traffic, Video, Sports
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WaMu Failure Shakes Seattle, From Shareholder to Job Seeker
Sept. 27 (Bloomberg) -- Sally Rawlings was one of the last people to buy shares in Washington Mutual Inc. , showing faith that her hometown Seattle savings and loan would be able to weather its financial crisis. ``That was a mistake,'' she said of ...
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Source: Bloomberg
NewsDateTime: 6 hours ago


Just two years ago, WaMu erected a 42-story headquarters building in downtown Seattle. About 3,500 jobs there may be most at risk, said Stephen Lerch, the interim chief economist for Washington state. Workers in branches may be safer because JPMorgan doesn't overlap much with WaMu's base in Washington, Oregon and California, he said. Bills to Pay ``Any time you lose a job, those people all have mortgage payments or rent apartments and buy groceries,'' Lerch said, adding that the losses come as the statewide economy is weakening, with real personal income forecast to drop 0.2 percent in the fourth quarter. ``Washington's been doing better than the U.S. economy, but it's starting to converge.'' Like Rawlings, Seattle newcomer James Ruth had no idea anything was amiss when he went to apply for a job at a downtown branch on 4th Avenue yesterday. He said he wasn't aware the bank had been sold and was told WaMu is ``still expanding.'' The Seattle Times, in an editorial yesterday, lamented the loss of Seattle's last big independent bank. ``The city that was once the proud headquarters of Seafirst, Rainier, People's, Seattle Trust, University Savings, Puget Sound Mutual and Washington Mutual -- `The Friend of the Family' -- now feeds bank corporations in Charlotte and Manhattan,'' the paper wrote. Safe Haven WaMu started as the Washington National Building Loan & Investment Association on Sept. 25, 1889, 119 years to the day before its failure. A fire had engulfed downtown Seattle and residents needed a safe place to put their money, according to a history on WaMu's Web site. In 1890, the bank made what it calls the first monthly installment home loan on the Pacific coast, giving $700 to a Norwegian-born seaman to build a house in Seattle. Mortgages underpinned WaMu's rise and fall. Kerry Killinger, who was ousted Sept. 8 after 18 years as chief executive officer, tried to use mortgages as a foot in the door to sell checking accounts, home equity loans, life insurance and credit cards to customers. He remade WaMu's branches in a less traditional style. Tellers stood in the open at supermarket-style kiosks and managers met loan-seekers on couches. Advertising echoed the informal theme, from the ``Whoo-hoo'' in WaMu's advertising campaign to the ``Sure'' instead of ``Yes'' that customers punched on ATM screens. Options ARMs Like others at now-struggling financial institutions, Killinger pushed at the height of the housing boom into riskier loans to less creditworthy buyers. WaMu was the second-biggest provider of payment-option adjustable-rate mortgages, behind Wachovia Corp., with $54 billion held in its portfolio in the first quarter, according to Inside Mortgage Finance. Option ARMs let borrowers skip part of their payment and add that sum to the principal, so that when housing prices fall, as they have since 2006, they might end up owing more than the residence is worth. Facing $19 billion of losses on soured mortgage loans, the lender put itself up for sale last week. ``What amazes me is how they gave people mortgages without good credit,'' said Rosalie Edburg, 89, a retiree in Seattle who kept her savings and checking accounts at WaMu. ``It sounds like their minds were on vacation.''


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Title: Wamu Bank Run? Not Quite Yet? - People are just confused...
Categories: News,Aljezeera,run,collapse,Bank,Economic,Wamu,

Published on: 9/26/2008 1:57:12 PM
Title: DRUNK, BROKE AND VOMITING! THANKS AIG, WAMU, WACHOVIA!
Categories: cnbc,broke,aig,vomiting,insurance,gold,laughing,american,puke,News,hotroast,mariott,street,reserve,money,central,parody,federal,presidential,freddie,group,vomit,spoof,markets,baby,silver,international,vlogolution,debates,crisis,vienna,wall,washington,sterns,park,mutual,commercial,drunk,retirement,barf,fannie,butterflies,bailouts,wamu,poor,bear,credit,

Published on: 9/22/2008 9:36:13 AM
Title: WaMu Looking for Buyer
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Published on: 9/19/2008 6:37:29 PM
Title: WaMu Struggles As Lehman Looks for Lifeline
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Published on: 9/11/2008 3:31:38 PM
Title: Wamu Commercial!
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Published on: 3/18/2007 9:13:19 PM

The presidential debate:the Next Day

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The presidential campaigns roared out of here Saturday morning facing a task arguably as difficult — and as important — as the debate between Barack Obama and John McCain itself: How to influence the public perception of who won after a debate that produced no clear winners or losers. Multimedia Interactive Feature The First Presidential Debate Related The Caucus: Obama and Biden’s Post-Debate Rally in North Carolina (September 27, 2008) The Caucus: The Early Word: Saturday Morning Quarterback (September 27, 2008) Candidates Clash on the Economy and Iraq in Debate (September 27, 2008) The TV Watch: Beyond Ideology, a Generational Clash (September 27, 2008) New Debate Territory: Pakistan and Iran Policy (September 27, 2008) On Wall St. Crisis, Rivals Pivot to More Familiar Turf (September 27, 2008) Blog The Caucus The latest political news from around the nation. Join the discussion. Election Guide | More Politics News Rarely has the perennial battle seemed more important than this year, with both candidates facing an agitated electorate and both men locked in a tight battle that could be altered by the long-term perceptions set by these debates. To this end, the Obama campaign worked overnight to release, at the crack of dawn, an advertisement criticizing Senator McCain for failing to utter the words “middle class.” It was unclear whether Mr. Obama’s campaign was even spending a lot of money to broadcast the ad, which seemed directed at the opinion-leaders who would be appearing on the Sunday morning talk shows or writing about the debate in their columns for the next few days. For its part, the McCain campaign had already released an Internet video citing several instances in which Mr. Obama had said he agreed with his rival’s positions, a talking point that began to evolve even as the debate was going on Friday night. The frenzied activity was part of

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In post-debate rally, Obama pounds McCain as out of touch for not ...
The Illinois senator was spending most of the day trying to capitalize on his ... If he was honest, Barack Obama knows he was unable to debate the merits of supporting ... The next debate will be a town hall format, and Plouffe called McCain the ...
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Source: Chicago Tribune
NewsDateTime: 3 hours ago

US rivals claim TV debate victory
US presidential hopefuls Democrat Barack Obama and Republican John McCain have both ... McCain wins debate". The BBC's Allan Little in Oxford says both performances seemed to ... Mr McCain said he believed the nation was safer than it had been the day ...
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McCain & Obama Face Off in First Debate
... the stage of a performing arts center at the University of Mississippi for the first of three scheduled debates with less than six weeks remaining until Election Day. The two vice presidential candidates will meet next week for their only debate. The ...
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Source: WXYZ
NewsDateTime: 4 hours ago

Candidates Train Focus on Economy After Debate
... on the economy, took two very different approaches the day ... middle class for not addressing their needs during the debate the ... The only vice presidential debate, between Biden and Sarah Palin, will be held next week.
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Source: Elections.foxnews.com
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McCain, Obama blast away on Iraq war policy
... the stage of a performing arts center at the University of Mississippi for the first of three scheduled debates with less than six weeks remaining until Election Day. The two vice presidential candidates will meet next week for their only debate. The ...
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he frenzied activity was part of an intensive battle to shape public perceptions in the vital closing weeks of a razor-tight race. And it reflected one common belief in presidential politics: That many viewers base their judgment not necessarily on debate performance but on what they read and see in the days of opinion-making afterwards. On Saturday, Mr. McCain flew home to northern Virginia and made phone calls in an effort to push the deal on the financial bailout along , as he tried to show himself as a leader in times of crisis. And he had his own take on how he did Friday night. Speaking to Representative Chip Pickering, Republican of Mississippi, he was recorded by a television crew as saying, “I was a little disappointed the media called it a tie, but I think that means when they call it a tie that means we win.” Mr. Obama returned to the campaign trail in North Carolina, where he stuck to the campaign’s post-debate theme, telling crowds: “He didn’t even say the words ‘middle class.’ He didn’t say the words working people.” Even as they sought to mold perceptions from the previous night, the campaigns were embarked on a similar public relations exercise preparing for the next two debates, one Thursday between Senator Joseph R. Biden Jr. of Delaware and Gov. Sarah Palin of Alaska, and the other between Mr. McCain and Mr. Obama in a town-hall setting on Oct 8. Speaking with reporters on a conference call Saturday morning, Mr. Obama’s campaign manager, David Plouffe, called Ms. Palin, “a gifted debater.” Noting Mr. McCain’s preference for town hall formats, and using the transparent, expectations-setting hyperbole common from both campaigns, he said he would be “thrilled” if “we can just escape relatively unscathed.” Mr. McCain’s campaign, meanwhile, sent out several e-mail messages attacking Mr. Biden, and released a new advertisement using Mr. Biden’s disagreement with Mr. Obama on a war financing bill from the Democratic primary season. And, meeting the charge that Mr. McCain did not say the words ““middle class”“ during the debate, his aides countered that Mr. Obama did not use the word “victory” in reference to Iraq. The positioning was in keeping with what is now a quadrennial rite in which the campaigns go full bore to convince the news media, and ultimately the public, that their candidate won — or more than that, to argue that the debate spotlighted some sort of character or issue defect in their opponent. This often involves highlighting some supposedly fatal mistake by their opponent — the sighs of Al Gore during a 2000 debate; the first President George Bush’s peek at his wristwatch while debating Bill Clinton in 1992. In this case, Mr. McCain’s campaign seized on a reference Mr. Obama made to a bracelet he received from the parents of a soldier killed in Iraq after Mr. McCain spoke about one bequeathed to him. Mr. Obama had appeared to have paused momentarily when mentioning the soldier’s name — Sergeant Ryan David Jopeck, which Mr. McCain’s aides sought to portray as a gaffe. Mr. Obama’s campaign sought to seize on Mr. McCain’s attacks and frequently serious demeanor to reinforce efforts to portray him as angry; similarly, they noted that he had not exercised the courtesy of even returning Mr. Obama’s gaze to suggest that he was being disrespectful or condescending to his rivals. While such criticisms may seem, on first glance, trivial, they are the kind of things — as Mr. Gore and the first President Bush can attest — that can catch fire and influence public perception of the candiate and put him off guard for the next debate. But the general sense was that the debate — with a lack of game-changing moments — had not changed the static landscape of the overall campaign. An anchor on Fox News Channel went so far as to tell a guest, the former Gov. Mike Huckabee of Arkansas, “they could have used you on the debate last night.” Mr. Huckabee had won high marks for fun quips in the Republican primary debates.


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Title: "Plan for Change" Ad
Categories: Obama,News,for,Change,Barack,Plan,

Published on: 9/16/2008 9:54:25 PM
Title: Barack Obama: Washington, DC Press Avail
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Published on: 9/25/2008 10:05:36 PM
Title: "I Got a Crush...On Obama" By Obama Girl
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Published on: 6/13/2007 4:47:09 AM
Title: Yes We Can - Barack Obama Music Video
Categories: Obama,election,News,speech,vote,will.i.am,democrats,president,primary,caucus,Barack,

Published on: 2/2/2008 2:57:48 AM
Title: Dear Mr. Obama
Categories: News,military,war,truth,freedom,sacrifice,principles,mccain,

Published on: 8/28/2008 12:46:15 AM

Paul Newman dead at age 83

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Ten-time Oscar nominee Paul Newman, creator of iconic movie anti-heroes in "The Hustler," "Cool Hand Luke" and "Butch Cassidy and the Sundance Kid," has died after a battle with cancer. The 83-year-old screen legend with the piercing blue eyes died Friday at his farmhouse near Westport, Conn., said publicist Jeff Sanderson. He was surrounded by his family and close friends. PHOTOS: PAUL NEWMAN'S FILMS Word of his illness leaked earlier this year after Newman, citing health issues, dropped out of directing a fall production of "Of Mice and Men." Newman, in addition to his cinematic brilliance in more than 60 movies, became known as a director, race car driver and philanthropist. He won three Oscars - two honorary, and one for the Martin Scorsese-directed "The Color of Money." Newman reprised his memorable role as pool shark "Fast Eddie" Felson from "The Hustler" to capture the 1986 award. Newman always appeared high up on any list of screen legends, box office stars or sex symbols.

Paul Newman - Wikipedia, the free encyclopedia
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Who's Alive and Who's Dead: Paul Newman
Who's Alive and Who's Dead: Paul Newman is ALIVE. This reference site helps you ... Age: 83 Full name: Paul Leonard Newman Noted For: Actor; Cat on a Hot Tin Roof (1958), Cool Hand Luke (1967 ...
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Paul Newman Death Watch — The Deli
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Paul Newman fighting cancer, business partner confirms
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Actor Paul Newman dead at age 83
Paul Newman at home in Beverly Hills in 1962. He combined exceptional charisma and magnetism with prodigious skills as an actor. Keivom/News Newman in New York in 2000. Later in life he became almost as well known for his philanthropic pursuits as ...
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Source: New York Daily News
NewsDateTime: 50 minutes ago

Paul Newman dies at 83
Paul Newman dies at 83 ... Never afraid of playing his age, Newman portrayed a repressed businessman in 1990's "Mr. and Mrs.
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Source: CNN
NewsDateTime: 57 minutes ago

Legendary actor Paul Newman dies at 83
A spokeswoman for screen legend Paul Newman says the actor has died at age 83. Spokeswoman Marni Tomljanovic says Newman died Friday of cancer. No other details were immediately available. Newman was nominated for Academy Awards 10 times, winning a ...
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Source: Newsday
NewsDateTime: 3 hours ago

Legendary actor Paul Newman dead at age 83
WESTPORT, CONN. - Paul Newman, the Academy-Award winning superstar who personified cool as an activist, race car driver, popcorn impresario and the anti-hero of such films as "Hud," "Cool Hand Luke" and "The Color of Money," has died. He was 83 ...
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Source: Orlando Sentinel
NewsDateTime: 2 hours ago

BREAKING NEWS - Paul Newman dead at age 83
WESTPORT (AP) -- Paul Newman, the Academy-Award winning superstar who personified cool as an activist, race car driver, popcorn impresario and the anti-hero of such films as "Hud," "Cool Hand Luke" . . . Sorry, you must be an online or print ...
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Source: Norwalk Hour
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APPRECIATION: MATINEE IDOL HANDSOME, NEWMAN PREFERRED GRITTIER STUFF In 1982, along with writer A.E. Hotchner, he founded "Newman's Own," a company that began producing salad dressing and now also makes pasta sauce, lemonade, popcorn, salsa and dog food. Newman once sampled the dog food on an appearance on the Jay Leno show. His share of the profits of "Newman's Own" goes to charity - as of 2006 he had already contributed more than $220 million. Newman joked about the "embarrassment" that "my salad dressing grosses more than my movies." One of the charities he founded is the Hole-in-the-Wall Gang, a camp for terminally ill children. Although he played the leads in "The Desperate Hours" and Tennessee Williams' "Sweet Bird of Youth" on Broadway in the '50s, just around the time his movie career was taking off, he didn't receive his first Tony nomination until 2003, when, at 78, he played the role of the Stage Manager in "Our Town." NEWMAN'S FIVE BEST ROLES: OUR FILM CRITIC'S CHOICES Newman was born in Shaker Heights, Ohio, on Jan. 26, 1925. His father owned a dry-goods store where he briefly worked. He was training as a pilot during World War II but stopped because he was color blind, instead serving as a Navy radio operator. After the war he attended Kenyon College, where he met and married his first wife, Jackie Witte. They had three children, Scott, Susan and Stephanie; Scott died in 1978 of a drug overdose. He was "discovered" by two New York agents while studying at the Yale School of Drama. They quickly found him work in the burgeoning world of TV drama.


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Published on: 11/19/2006 10:19:19 AM
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Published on: 1/16/2007 7:19:06 PM
Title: James Dean and Paul Newman screen test
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Published on: 1/13/2008 4:50:25 AM
Title: Paul Newman Interview
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Published on: 12/12/2007 2:26:54 AM
Title: Paul Newman and Joanne Woodward Part 1
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Published on: 8/4/2007 8:05:54 AM

final verdict on eight years of failed economic policies

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Sen. Barack Obama sharply criticized Sen. John McCain's judgment on the war in Iraq, repeatedly telling his presidential rival ''you were wrong'' to rush the nation into battle, directly challenging the Republican nominee on foreign policy as the two met in their first debate of the general-election season. McCain aggressively pushed back, accusing Obama of failing to understand that a new approach employed by Gen. David Petraeus in Iraq would lead to victory and mocking him as naive for his willingness to meet with some of the world's most brutal leaders. With 40 days remaining before Election Day and the U.S. economy teetering, the two clashed on taxes, energy policy, Russian aggression in Georgia and the threat posed by Iran. Neither made a serious mistake in an encounter that capped one of the most chaotic weeks of the campaign, nor was either able to claim a decisive victory. The debate itself almost did not happen. McCain's dramatic mid-week announcement that he was suspending his campaign to focus on the nation's financial crisis left the face-off in limbo as both candidates rushed back to Washington on Thursday and plunged themselves into the acrimonious negotiations over a $700 billion economic bailout.

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Video: Obama: McCain's Economic Philosophy has Failed for 8 Years
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Climate change panel gives its final verdict: the future is bleak ...
Climate change panel gives its final verdict: the future is bleak ... Panel on Climate Change (IPCC), which shared this years ... Given that 8 billion people could stand in an area ...
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First Debate Unleashes Sharp Tongues
Obama said his Republican rival has been a loyal supporter of the unpopular president across the past eight years, adding that the current economic crisis is "a final verdict on eight years of failed economic policies promoted by President Bush and ...
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Source: The Ledger
NewsDateTime: 1 hour ago

Bank crisis overshadows defense in first debate
Obama sought to tie McCain to the bank crisis, calling it “a final verdict on eight years of failed economic policies promoted by George Bush, supported by Senator McCain.
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Source: MSNBC
NewsDateTime: 2 hours ago

Obama, McCain argue over economic and foreign topics
We have to realize that this is a final verdict on eight years of failed economic policies promoted by George Bush, supported by John McCain," Obama said.
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Source: Philadelphia Daily News
NewsDateTime: 6 hours ago

Economy, Iraq dominate first presidential debate
Senator Obama said the financial crisis was "the final verdict on eight years of failed economic policies promoted by George Bush, supported by Senator McCain'' and lashed Senator McCain for saying last week the US economy was fundamentally "strong.
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Source: News.com.au
NewsDateTime: 2 hours ago

Financial crisis: US Wall Street bail out talks back on track
He called the financial crisis "a final verdict on eight years of failed economic policies promoted by President Bush and supported by Senator McCain.
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Source: Daily Telegraph
NewsDateTime: 2 hours ago


On Friday, McCain reversed his pledge to stay in Washington until those negotiations concluded. And once on stage at the University of Mississippi, it was Advertisement the exchanges about how to keep the United States safe that put the starkest differences between the two men on display. ''Senator Obama said the 'surge' could not work, said it would increase sectarian violence, said it was doomed to failure,'' McCain said, focusing on recent improvements in conditions in Iraq. ''But yet, after conceding that, he still says that he would oppose the surge if he had to decide that again today.'' ''John, you like to pretend like the war started in 2007,'' the senator from Illinois shot back. ''The war started in 2003.'' In rapid-fire succession, Obama accused his rival of being in the wrong as President Bush led the nation to war in the aftermath of the Sept. 11, 2001, attacks. ''You said we knew where the weapons of mass destruction were. You were wrong. You said that we were going to be greeted as liberators. You were wrong. You said that there was no history of violence between Shia and Sunni. And you were wrong.'' Later, McCain's voice dripped with derision as he questioned Obama's statement that he would meet with the leaders of rogue foreign countries, including Iranian President Mahmoud Ahmadinejad. ''So let me get this right: We sit down with Ahmadinejad, and he says, 'We're going to wipe Israel off the face of the Earth,' " and we say, 'No, you're not'?'' the senator from Arizona said, as Obama tried to object. Obama pushed back on McCain's criticism, saying, ''I reserve the right, as president of the United States, to meet with anybody at a time and place of my choosing if I think it's going to keep America safe.'' In the opening moments of the debate Friday night, Obama and McCain immediately discarded the scheduled topic of foreign affairs and waded into a discussion of the nation's financial crisis, with both saying they are optimistic that Congress will agree on a financial bailout plan in the coming days. The Republican nominee said bipartisanship would carry the day. ''We have finally seen Republicans and Democrats sitting down and negotiating together and coming up with a package,'' McCain said. Obama laid out his own priorities for the federal bailout plan before training his fire on McCain, linking him to the unpopular president. ''We also have to recognize that this is a final verdict on eight years of failed economic policies promoted by George Bush, supported by Senator McCain, a theory that basically says that we can shred regulations and consumer protections and give more and more to the most, and somehow prosperity will trickle down,'' he said. McCain said Obama would bring higher taxes and more spending to the White House at a time when the country could ill afford them, and mocked his assertions that he could bring bipartisanship to Washington. ''Senator Obama has the most liberal voting record in the Senate,'' McCain said. ''It's hard to reach across the aisle from that far to the left.''


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Title: McCain vs. Obama Debate Wrap Up
Categories: turks,pal,barack,democratic,obama,president,the,economic,mccain,News,sarah,nominee,young,up,john,republican,wrap,plan,debates,

Published on: 9/26/2008 11:08:54 PM
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Published on: 9/26/2008 11:01:40 PM
Title: Clinton Obama Debate, Great Moment,January 31, 2008
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Published on: 1/31/2008 9:07:52 PM
Title: Obama: Debate is 'More Important Than Ever'
Categories: economy,Florida,Barack,mccain,News,Obama,Avail,bailout,john,Press,suspension,Clearwater,campaign,

Published on: 9/24/2008 5:48:13 PM
Title: Edwards, Clinton, and Obama debate about Lobbyist
Categories: Edwards,Hillary,Barack,News,Lobbiest,Obama,YearlyKos,Bundling,Clinton,John,Special,Interest,

Published on: 8/5/2007 10:03:45 AM