Yes, it has been a while for us here at the PolisciAfterparty, and I’m not sure just how often posts will be coming, but for right now, we are back. And I tell you, I loved, during our little break, that we didn’t have to encounter any stupid, probably deep-south, conservative bigotry regarding the First Family…oh wait, thats not right at all…
This photo was taken of Malia Obama wearing an anti-nuclear weapons T-shirt. Well, the fantastic human beings over at the Free Republic website (please note the sarcasm) took to bashing this picture with some of the most tasteful comments I have ever seen (after the break)… Continue reading
Yes, I know what you are thinking…”How did spam email get onto our blog?!?!”
It didn’t. The Fed just cut its target rate. And it cut it big time…what started the day at 1.00, now will sit in a “target range” of 0-0.25
When the Fed “cuts rates”, this refers to a decision by the FOMC to reduce the federal funds target rate. The target rate is a guideline for the actual rate that banks charge each other on overnight reserve loans.Rates on interbank loans are negotiated by the individual banks and usually stay close to the target rate. The target rate may also be referred to as the “federal funds rate” or the “nominal rate”.
The federal funds rate is important because many other rates, domestic and international, are linked directly to it or move closely with it.
Basically, the interest rate charged to banks to borrow money is a hair above, if not at, zero. Thus, the banks then aren’t going to charge high rates for interbank overnight loans, meaning that if you can get a loan or a mortgage at this time, you will basically just have to pay your loan amount, not an obscene interest charge as well. Traders are looking at this with dismay, as the dollar is going to lose value because of the Fed decision.
God, I love the economy. Is it 2009 yet?
As many of have met or at least been in the same room as the (soon to be former) Congressman from NY-13, I thought the following would bring a nice close to his tenure representing us…
1998: Rep. Vito Fossella, new in Congress, votes to impeach President Clinton.
May 1, 2008: Vito Fossella is kicked out of Washington, DC’s Logan Tavern for excessive drunkenness, following a party at the White House in honor of the Super Bowl champion New York Giants
Shortly after, he is arrested for driving while intoxicated in Alexandria, Virginia. When asked about his destination, Fossella informs police that he is “going to visit his sick daughter”. This is especially noteworthy because his family lives in New York City.
Mr. Fossella was asked to recite the alphabet between the letters D and T. “The subject immediately started and said ‘A, B,’ ” the officer wrote in his report.
After the officer explained the test again, Mr. Fossella started: “D, E, F, H, G, H, I, J, L,” and then was able to finish. Continue reading
In a great segment, Keith Olbermann takes us all through his reactions to watching the now infamous “Turkeygate” footage for the first time. Good Times.
A little off topic, but today I filled out my application for a position with the Obama-Biden administration via change.gov.
While I probably won’t be getting a call back, I do feel a little empowered.
Its a boring day at work, and I stumbled upon this video reference on the DailyKos cheers and Jeers section.
Gotta love Al Gore.
In an interview after his ceremony aboard the USS Intrepid yesterday, President Bush admitted there were some things he regretting saying during his presidency.
As his presidency nears its end, a reflective President Bush suggested Tuesday that he regrets some of his more blunt statements on the war on terrorism over the last eight years and said he wishes he had not spoken in front of a “Mission Accomplished” banner only a month after U.S. troops in Iraq were deployed. Continue reading