This'n'That; June 30th[Honduras;Biltmore;TARP;GM]

Fluffy And "Rob'em" Condemn Presidential Removal ACORN-COI through their mouthpiece Fluffy obama along with Secretary of State Hillary "Rob'em" Clinton condemned the military action that removed Honduran President Jose Zelaya from office last Sunday. Mr Zelaya was attempting to hold an unofficial vote to determine support for a change to Honduran law that would allow him to run for subsequent terms as president. Now that H.R. 5 has come to light, we better be on the lookout for soviet-type moves toward a communist dictatorship for the U.S. The condemnation aligns the executive branch with Hugo Chavez, the Venezulan rat-hole dictator, who said he'd overthrow any successor. NOTE: H.R. 5 is the House proposal to remove the two-term restriction on the U.S. presidency. More To Asheville Than Biltmore Estate Granted, the primary attraction in the Asheville, N.C., area is the estate. There is even more to see than the several attractions on the estate's grounds. One only has to go two miles north of the citycenter, near the estate's entrance to find a treasure-trove of neat stuff to see!! Biltmore Village was originally built to house and provide necessities for the craftsmen and laborers building The Biltmore House. Today, the cottages and retail shops provide visitors access to 30 unique shops and 10 cafe's and restaurants. ACORN Continues To Screw The Taxpayer! Congress originally authorized up to $700 billion in TARP investments. And we know that $439 billion has been committed to various programs. But how much of that money are taxpayers likely to see again? And to what extent will they be compensated for making those investments? The Congressional Budget Office tried answering those questions in a report they issued last week. The primary finding is the CBO’s estimate that subsidies in the TARP program [read: Loss to the Taxpayer!] are $159 billion. Taxpayers put up $439 billion and, in return, now own assets (incuding recent repayments) of $280 billion. The biggest subsidies are for housing ($50 billion), the auto industry ($40 billion), and AIG ($35 billion). The next biggest subsidy is for the bank investments that haven’t been repaid ($24 billion). That figure includes subsidies for the original TARP investments in Citigroup and Bank of America . The CBO estimates that the additional investments in Citigroup and Bank of America involve subsidies of about $7 billion, of which $5 billion is for Citi and $2 billion is for B of A. The B of A figure may increase, however, when Treasury finalizes a plan to guarantee some B of A assets. CBO estimates that the banks who have repaid the TARP also received small subsidies. Taxpayers got their money back, but CBO believes that they weren’t fully compensated: dividend yields were below market rates, and taxpayers bore significant risk. (Caveat: CBO’s estimate does not include the value of the warrants that ten big banks will repurchase.) These estimates do not include several programs that have been announced but not yet implemented. These include additional support to GM (GMGMQ.PK -see below), expansion of the TALF, creation of the PPIP, and support for small business loans. Another way to examine this information is to look at the subsidy rates that CBO estimated for each of these programs: The subsidy rate for housing is 100%. The housing program is the only part of TARP in which taxpayers do not receive assets whose value might offset some of the TARP spending. The next highest subsidy rates are for the auto industry (73%) and AIG (50%). The subsidy rate for the extra Citigroup support (20%) is almost twice as high as the subsidy rate for the extra Bank of America support (11%). That difference is primarily driven by the asset guarantees provided to Citigroup, which CBO believes involve higher subsidies that the additional capital investment in the firm. Treasury is working on a plan to provide guarantees for some Bank of America assets, so the BoA subsidy rate may change. As noted above, CBO believes that the repaid investments involved a small subsidy. Taxpayers got their money back, but weren’t fully compensated for bearing risk and receiving below-market dividends. This figure may change once Treasury repurchases warrants. GEN MOTORS(Other OTC: GMGMQ.PK) >>>Last Trade: $1.1445 >>>Trade Time: Jun 29 >>>Prev Close: $1.1445 >>>1y Target Est: $0.33 >>>52wk Range: $0.27 - $16.35 >>>Market Cap: 698.79M >>>EPS (ttm): -$56.845 >>>Div & Yield: $0.00/0.00% Another Suggestion For ACORN-COI And Fluffy [Given ACORN-COI's penchant for communist-style government takeovers of private companies, they might consider the "K-Y" division of Johnson & Johnson! Each time ACORN-COI makes it's "back-room" suggestions to/demands on the Congress, the resultant "screwing" is eventually gonna hurt the taxpayer... and hurt badly!! With each impending "screwing," the IRS could send a 5 pound tube to each taxpayer. Check out below, this latest attempt at "screwing the taxpayer to the wall" Given the stock information above, ACORN-COI/Fluffy accountants are making their typical investments: $60 Billion in cash for a 50% stake in a $698.790,000 company-a company that loses $56.85 per share annually!! WHADDA DEAL!!!] General Motors Corp is heading to bankruptcy court on Tuesday to seek approval to sell its assets to a "New GM" in a plan to reinvigorate the automaker under U.S. government ownership. GM is seeking approval for the sale from U.S. bankruptcy Judge Robert Gerber just 30 days after filing for Chapter 11. Under the deal, brokered by the ACORN-COI administration's autos task force, the company would sell its assets under Section 363 of the bankruptcy code to a "New GM" and continue to operate its best assets, like Chevrolet and Cadillac, while gaining access to billions in funding from the U.S. Treasury. GM's old assets would remain behind in bankruptcy court to be liquidated. The deal faces several objections from bondholders and those concerned about the fate of its dealers, but no competing bidders have emerged as an alternative to the U.S. government's $60 billion financing for GM, including a proposed equity investment of $50 billion that would give the U.S. Treasury a 60 percent ownership stake. Til Nex'Time....