Patriot Update - A Free Press for the Conservative Revolution

Economics:

Obama to Impose Fee on High-Flying U.S. Banks

The proposal is designed to take affect June 30 and run for at least ten years, and possibly longer if the fees do not cover unpaid sums from the Troubled Asset Relief Program, an official says.

Source: http://www.foxnews.com/politics/2010/01/14/obama-propose-fee...

Economics:

Official: New Bank Fees Will Raise Tens of Billions for Feds

The bank fees President Obama will propose in his 2011 budget will not seek to raise $120 billion, as has been reported, and will be targeted toward large banks and their risk-oriented transactions, a senior administration official told Fox News on Tuesday.

Source: http://www.foxnews.com/politics/2010/01/12/official-new-bank...

Economics:

'World News' Plays Populism Card: Bashes Wall St. Bonuses; Ignores Fannie, Freddie

Just in time for what they call “bonus season,” ABC’s “World News” treated its viewers to a little anti-Wall Street populism Sunday night. On “World News” Jan. 10, weekend anchor Dan Harris explained there was “backlash” against Wall Street for bonuses that haven’t even been paid out yet. But the ABC report made no mention of bonuses paid to Fannie Mae and Freddie Mac executives.

Source: http://www.businessandmedia.org/articles/2010/20100111102259...

Economics:

Obama Considering Tax on Rescued Banks

Targeting an industry whose political deafness has vexed his administration, President Barack Obama is weighing recovering tax dollars from government-rescued financial institutions with a levy. The proposed levy could put Obama on the popular side of public opinion that is decidedly against Wall Street and angry over shortfalls in a $700 billion bank bailout fund.

Source: http://www.foxnews.com/politics/2010/01/12/source-obama-cons...

Economics:

AP IMPACT: Road projects don't help unemployment

Ten months into President Barack Obama's first economic stimulus plan, a surge in spending on roads and bridges has had no effect on local unemployment and only barely helped the beleaguered construction industry, an Associated Press analysis has found.

Source: http://www.gopusa.com/news/2010/january/0111_road_projects1....

Economics:

CIA planned to 'rendition' suspects in Germany: report

"It was about grabbing people without the Germans knowing about it," the German weekly magazine cited an unnamed former CIA agent as saying. "We were planning stuff that was totally illegal."

Source: http://www.breitbart.com/article.php?id=CNG.ca3bca4668285a1f...

Economics:

China becomes biggest exporter, edging out Germany

BEIJING (AP) - Already the biggest auto market and steel maker, China edged past Germany in 2009 to become the top exporter, yet another sign of its rapid rise and the spread of economic power from West to East.

Source: http://apnews.myway.com/article/20100110/D9D5277O0.html

Economics:

Cornyn, Steele Call on Reid to Resign as Senate Leader After Obama 'Negro' Comment

Sen. John Cornyn, head of the National Republican Senatorial Committee, said Sunday that Reid should follow the example set by Trent Lott in 2002, who resigned his leadership post.

Source: http://www.foxnews.com/politics/2010/01/10/reid-mounted-aggr...

Economics:

Obama Presides Over Most Jobs Lost Since 1940

Unemployment shot up in 2009 from 7.7 percent in January to 10.1 percent in October before settling at 10 percent in December. Behind those percentages were more than 4.1 million people who lost their jobs during the year. According to data from the Bureau of Labor Statistics, that’s the most job losses in a year since 1940.

Source: http://www.businessandmedia.org/articles/2010/20100108104806...