1) FDIC Could Be Insolvent This Year

“A large number” of bank failures may occur through 2010 because of “rapidly deteriorating economic conditions,” Bair said in the letter. “Without substantial amounts of additional assessment revenue in the near future, current projections indicate that the fund balance will approach zero or even become negative.”  The FDIC last week approved a one-time “emergency” fee and other assessment increases on the industry to rebuild a fund to repay customers for deposits of as much as $250,000 when a bank fails. The fees, opposed by the industry, may generate $27 billion this year after the fund fell to $18.9 billion in the fourth quarter from $34.6 billion in the previous period, the FDIC said. Smaller banks are outraged over the one-time fee, which could wipe out 50 percent to 100 percent of a bank’s 2009 earnings, Camden Fine, president of the Independent Community Bankers of America, said yesterday in a telephone interview (emphasis mine). See: http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=alsJZqIFuN3k This is a shakedown and power grab!!!!! I wonder if this has anything to do with the banks that said, “Thanks but no Thanks” (See previous posts). Do ‘ya think???? 2) Russian scholar says US will collapse — next year “MOSCOW – If you're inclined to believe Igor Panarin, and the Kremlin wouldn't mind if you did, then President Barack Obama will order martial law this year, the U.S. will split into six rump-states before 2011, and Russia and China will become the backbones of a new world order. Putin, the former president who is now prime minister, has likened the United States to Nazi Germany's Third Reich and blames Washington for the global financial crisis that has pounded the Russian economy.”   Well, I kind of agree with him on that one… See: http://news.yahoo.com/s/ap/20090304/ap_on_re_eu/eu_russia_us_the_end_is_near 3) Senate Republicans force delay on spending bill WASHINGTON – Senate Republicans, demanding the right to try to change a huge spending bill, forced Democrats on Thursday night to put off a final vote on the measure until next week. The surprise development will force Congress to pass a stopgap funding bill to avoid a partial shutdown of the government. See: http://news.yahoo.com/s/ap/20090306/ap_on_go_co/congress_spending 4) GLENN BECK: Obama’s Budget Is a Loaded Weapon Aimed at You See: http://foxforum.blogs.foxnews.com/2009/03/04/beck_obama_budget/ 4a) China Now More Capitalist than America STRASZHEIM: China has treated capital better than we have for a decade. There is no tax on gains held short term or long term -- KUDLOW: Wow. STRASZHEIM: -- in the Chinese market. KUDLOW: Wow! STRASZHEIM: Zero, the tax rate is zero. See: http://www.rushlimbaugh.com/home/daily/site_030509/content/01125108.guest.html 5) More on the Palestinian State Palestinian Arabs will never accept the existence of a Jewish state on any of the land between the Jordan River and the Mediterranean Sea. Nor are they willing to abandon their belief, indoctrinated for decades, that all of Israel is "occupied territory." Simply put, if Israel shrinks to one downtown square in Tel Aviv the Palestinian Arabs will still not be satisfied.” See: http://www.americanthinker.com/2009/03/if_obama_abandons_israel_what_1.html 5a) Obama's Iran Crisis: It's arriving faster than he thinks.   We've never held out much hope for those talks, which would inevitably be complicated and protracted. Mr. Obama is already trying to lure Russian help on Iran by offering to trade away hard-earned missile defense sites in Eastern Europe. Russia's President claims to be unimpressed. And now it turns out that the rate at which Iran's nuclear programs are advancing may render even negotiations moot.” See: http://online.wsj.com/article/SB123612623865424027.html 5b) 'Israel seriously considering Iran military op' Israel is seriously considering taking unilateral military action to stop Iran from acquiring nuclear weapons, according to a report by top US political figures and experts released Wednesday.  The report also says Israel's time frame for action is growing shorter, not only because of Iranian advances, but because Teheran might soon acquire upgraded air defenses and disperse its nuclear program to additional locations.  The report, "Preventing a Cascade of Instability," was put out by the Washington Institute for Near East Policy (WINEP). It also argues that international sanctions against Iran need to be intensified urgently for the engagement the Obama administration is planning with Teheran to be effective. See: http://www.jpost.com/servlet/Satellite?cid=1236103158937&pagename=JPost%2FJPArticle%2FPrinter