NewsReel

Loading...

Tuesday, September 30, 2008

Leaders of Congress and Bush Administration Vow to Restart Bailout Talks

President George W Bush Discusses Economic Rescue Plan
Tuesday
, September 30, 2008

.....

About Photo: President George W. Bush delivers a statement at the White House Tuesday morning, September 30, 2008, regarding the economic rescue plan. Said the President, “We're at a critical moment for our economy, and we need legislation that decisively address the troubled assets now clogging the financial system, helps lenders resume the flow of credit to consumers and businesses, and allows the American economy to get moving again.”
Read the Transcript - Watch the Video
HERE
White House photo by Chris Greenberg
.
**********************
.
Boehner Statement on Economic Rescue Package
Washington, Sep 30 -
House Republican Leader John Boehner (R-OH) today issued the following statement on the economic rescue package:

“The presidential candidates’ support for increasing the FDIC cap is welcome news. Increasing the FDIC cap is a proposal put on the table by Roy Blunt and House Republicans but ruled out by Democrats during the negotiations that led to yesterday’s unsuccessful vote. Reforming the mark-to-market rules is another such proposal. While it’s unlikely this development on FDIC alone will be enough to secure the additional House Republican votes needed to pass a responsible economic rescue bill, it is a positive development.”
.
Statement/photo taken from the House Republican Leader website
.
************************
.
Press Releases
Contact: Brendan Daly/Nadeam Elshami202-226-7616
For Immediate Release 09/30/2008


Pelosi and Reid to Bush:
‘We Are Committed to Working With You and Our Republican Colleagues to Enact a Bipartisan Bill Without Further Delay’

Washington, D.C. – Speaker Nancy Pelosi and Senate Majority Leader Harry Reid sent the following letter this afternoon to President Bush on the urgent need to pass bipartisan legislation to address the crisis in the financial markets
.
Below is the text of the letter:



September 30, 2008


The Honorable George W. Bush
The President of the United States
The White House
1600 Pennsylvania Avenue, NW
Washington, D.C. 20500


Dear Mr. President:

Yesterday’s defeat of the Economic Emergency Stabilization Act resulted in additional severe economic impacts both on Wall Street and on Main Street. The consequences of yesterday’s vote – an historic drop in the stock market and the loss of $1.2 trillion in savings, investments, and retirement funds – had a major impact on American families, small businesses, and others that demonstrated the imperative for Congressional action.

We have already made much progress in improving the plan originally sent to Congress. After many days of discussions, we reached bipartisan agreement on key additions, including strong measures to protect taxpayers from the costs of this program; to impose tough accountability on Wall Street through strong oversight and transparency; to limit excessive executive compensation and golden parachutes; to reduce home foreclosures to help families remain in their homes; and to sequence the funding of the program to ensure appropriate cost controls and independent reviews.

We must continue our bipartisan efforts of the past two weeks to pass a comprehensive bill to help stabilize our financial system and protect the American taxpayer. We welcome your statement this morning and are committed to working with you and our Republican colleagues to enact a bipartisan bill without further delay.

Working together, we are confident we will pass a responsible bill in the very near future.

Sincerely,

Nancy Pelosi ........................... Harry Reid
Speaker of the House ............ Majority Leader of the Senate

....
Taken from the Speaker.gov website
.
*************************************

About above Video: Congressional leaders, President Bush and the two rivals to succeed him rummaged through ideas new and old Tuesday, desperately seeking to change a dozen House members' votes and pass a multibillion-dollar economic rescue plan. (Sept. 30)
AP News Video posted on YouTube by
AssociatedPress
.
*****************************
.
AubreyJ.........

Pilot Missing In Action From The Vietnam War Is Identified

No. 823-08 September 30, 2008
Pilot Missing In Action From The Vietnam War Is Identified


The Department of Defense POW/Missing Personnel Office (DPMO) announced today that the remains of a U.S. serviceman, missing in action from the Vietnam War, have been identified and will be returned to his family for burial with full military honors.

He is:
Col. David H. Zook, Jr., U.S. Air Force, of West Liberty, Ohio.
He will be buried Oct. 4 in West Liberty.

On October 4, 1967, Zook was on a psychological warfare operation over Song Be Province, South Vietnam, when his U-10B Super Courier aircraft collided in mid-air with a C-7A Caribou. The C-7 pilot said he saw the other aircraft hit the ground and explode. Several search and rescue attempts failed to locate Zook's remains.

In 1992, a joint U.S./Socialist Republic of Vietnam (S.R.V.) team, led by the Joint POW/MIA Accounting Command (JPAC), investigated the incident in Song Be Province. The team interviewed Vietnamese citizens who witnessed the crash and saw remains amid the wreckage. The team surveyed the site and found evidence consistent with Zook's crash. While later examining the evidence recovered from the site, a small fragment of bone was found.

In 1993, another joint team excavated the crash site and recovered a bone fragment and non-biological material including small pieces of military clothing. In March 2008, a final excavation was conducted and more human remains were recovered.

Among other forensic identification tools and circumstantial evidence, scientists from JPAC and also used dental comparisons in the identification of Zook's remains.

For additional information on the Defense Department's mission to account for missing Americans, visit the DPMO web site at http://www.dtic.mil/dpmo or call (703) 699-1169.

Monday, September 29, 2008

Neither Party Happy With Financial Bailout Bill - Bill Fails To Pass House Vote

Neither Party Happy With Financial Bailout Bill - Bill Fails To Pass House Vote

Still Video Image Provided by House of Representatives

The vote was 207 yea - 226 nay with 1 Republican no-vote.
There needed to be 218 votes in favor of the measure for it to have passed.
.
How they voted...
* Democrats: 141 yeas - 94 nays
* Republicans: 66 yeas - 132 nays


. It should also be noted that the DOW Stock Market plunged more than 700 Points for a time after the initial shock of the final House vote. .

AubreyJ..........

***************************
..

About above photo: President George W. Bush delivers a statement at the White House early Monday morning, 7:34am EDT, September 29, 2008, on Financial Rescue Legislation. (This statement was made before the House Vote went down.) Said the President... “This legislation deals with complex issues, and negotiators were asked to address them in a very short period of time. I appreciate the leadership of members on both sides of the aisle, who came together when our nation was counting on them. Negotiations are sometimes difficult, but their hard work and cooperation paid off.”
FULL TRANSCRIPT/VIDEO
HERE
White House photo by Chris Greenberg

******************
.
* Speaker Pelosi Floor Speech *

About video: The above video is part of Speaker Pelosi’s Floor Speech that went over the top this morning and turned a few Republicans away from voting, YEA.
Video posted on YouTube by JohnBoehner
.
**********************
.
Boehner on CBS Evening News: House GOP Leader Discusses Today's Vote on Economic Rescue Bill

Washington (September 29th) - In an interview tonight on the CBS Evening News with Katie Couric, House Republican Leader John Boehner (R-OH) discussed today’s vote on an economic rescue package and underscored the need for a bipartisan solution that protects families, seniors, small businesses, and taxpayers. During his interview, Boehner made clear that Congress must work together to protect Americans and their jobs, their retirement security, their bank accounts, and their college loans.
Full video and a transcript HERE

"I Invented The Internet, Episode 1: The Audacity" - Life of Barack Hussein Obama, Jeremiah Wright...

"I Invented The Internet, Episode 1: The Audacity"
(Note: I’ll be reposting this video, from time to time, up until the elections are over.)
I rate this video as Mature: Some VERY Graphic Images within

About Video: "I Invented The Internet, Episode 1: The Audacity." Lorne Baxter explores the life of Barack Hussein Obama, Jeremiah Wright and the theology behind it. Video is just over 13 minutes long.

Posted on EyeBlast.TV by Illuminati Pictures
Produced by Illuminati Pictures (www.illuminati.tv) - Music by Intelligentzia

DoD Identifies Army Casualty

No. 818-08 September 29, 2008
DoD Identifies Army Casualty


The Department of Defense announced today the death of a soldier who was supporting
Operation Iraqi Freedom.
Capt. Michael J. Medders, 25
, of Ohio, died September 24th in Jisr Naft, Iraq, of wounds suffered when a suicide bomber detonated a vest during operations. He was assigned to the 2nd Squadron, 3rd Armored Cavalry Regiment, Fort Hood, Texas.
For more information media may contact the Fort Hood public affairs office at (254) 287-9993; after hours (254) 291-2591.

Israel: On Ground Updates - September 29, 2008

Israel: On Ground Updates
US Deploys Long-Range Radar, Troops In Israel
Monday
, September 29, 2008
.
BBC News website brings us this report...
The US has deployed long-range radar in Israel to give early warning of any missile strike by Iran, officials say... The radar has been set up at an air base in the Negev desert and will be operated by 120 US military personnel... Israeli reports say it is the first time US military personnel have been based in the country permanently...

Read the full report at link below...
US bases powerful radar in Israel
.
Telegraph.co.uk reports it this way...
Israel has been supplied with an advanced radar system by the US that would provide extra early warning of an Iranian missile attack, it has been confirmed... The system can pick up a ballistic missile shortly after launch and estimate the time and location of impact... Such capabilities would cut the response time of Israel's anti-missile system... Israeli officials said the equipment was flown in last week along with 120 American staff and has been set up at an air force base in the southern Negev desert, reportedly off-limits to non-US personnel... Defense News, the US weekly that broke the story, identified it as a high-powered radar known as FBX-T and said it will be hooked up to the US military's Joint Tactical Ground Station...
Read the rest at link below...
Israel given long-range US radar system to warn of Iranian missile attack
.
DefenseNews.com brought us the news back on the 26th...
U.S. European Command (EUCOM) has deployed to Israel a high-powered X-band radar and the supporting people and equipment needed for coordinated defense against Iranian missile attack, marking the first permanent U.S. military presence on Israeli soil...
Read the rest at link below...
U.S. Deploys Radar, Troops To Israel

Sunday, September 28, 2008

Congress Expected to Pass Historic $700 Billion Rescue Package

FoxNews.com brings us the following AP report this Sunday morning...
Congressional leaders and the Bush administration agreed Sunday on the main elements of a $700 billion bailout for the financial industry, paving the way for swift enactment of the largest government intervention in markets since the Great Depression.
Read the full report HERE

Saturday, September 27, 2008

CSPAN Video Exposes Democrat Support of Sub Prime Mess

Here you can listen to Democrats in their own words dismissing the alarms raised by regulators of the now FAILED Fannie Mae and Freddie Mac. These hearing took place months ago and CLEARLY Republicans were warning that MORE CONTROLS WERE NEEDED and that the corruption and free for all housing give away was going to end badly...

read more ...--... digg story
**************************************
Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis

Video post on YouTube by NakedEmperorNews

OHHH Yeah... The Dems SURE AS HECK don't want this info on them brought back up. And the left leaning MSM SURELY isn't going to run any stories about it either!

AubreyJ.........

Syria: On Ground Updates - September 27, 2008

Syria: On Ground Updates
Seventeen Killed by Bomb in Damascus
Saturday
, September 27, 2008
.
* AFP.Google.com has the following report...
A car bomb exploded near a Shiite shrine in south Damascus on Saturday, killing 17 people and wounding 14 in one of the deadliest attacks to hit Syria in more than a decade, state media said...
Seventeen Killed by Bomb in Damascus
.
* SwissInfo.ch reports it this way...
A powerful car bomb exploded near a security complex in the Syrian capital Damascus on Saturday, killing 17 civilians in the third major attack in the tightly-controlled country this year...
Car bomb near Syrian security base kills 17

Friday, September 26, 2008

Senator John McCain Will Be Attending Tonight’s Debate


Senator John McCain Will Be Attending Tonight’s Debate
Friday, September 26, 2008
.
Senator John McCain spent this morning talking to members of the Administration, members of the Senate, and members of the House. He is reported to be optimistic that there has now been significant progress toward a bipartisan agreement... now that there is a framework for all parties to be represented in negotiations, including Representative Blunt as a designated negotiator for House Republicans.
.
With that said... the McCain Campaign is now resuming all activities and Senator John McCain will travel to Mississippi this afternoon to attend tonight’s debate at the University of Mississippi.
.
AubreyJ.........
Info from a press release by the
McCain Campaign
.
*****************************
.
* 10:00pm CDT
.
The debate is now over and it was a spirited one.
Who won??? I’d say... neither.

If we see a move in the poles... it will not be from tonight’s debate but from what has gone down in Washington over the past week and what comes out of it this weekend.

I believe a move in the polls, one way are the other, should show itself by this coming Wednesday. Then we should have a handle on how things are going to be going for both Campaigns into the Biden, Palin VP Debate next Thursday, Oct. 2nd.

I did like my man tonight though, overall...

He can’t help being who he is. Older, wiser... than yet not as exciting as one would wish he could be!


AubreyJ.........

Hurricane Kyle - Post Date: September 26-27-28-29, 2008

* Hurricane Kyle *
KYLE HEADED FOR NOVA SCOTIA AND NEW BRUNSWICK
ON THE FORECAST TRACK...THE CENTER OF KYLE SHOULD PASS EAST OF THE COAST OF MAINE LATER TODAY AND TONIGHT AND MOVE NEAR OR OVER NOVA SCOTIA AND NEW BRUNSWICK TONIGHT AND EARLY MONDAY
Post last updated: Monday, September 29, 2008
.
Above Image Updates Every Few Hours
.
AS OF 11:00am EDT: MAXIMUM SUSTAINED WINDS ARE NEAR 80MPH WITH HIGHER GUSTS. KYLE IS A CATEGORY ONE HURRICANE ON THE SAFFIR SIMPSON SCALE. KYLE IS MOVING OVER COLDER WATERS AND WEAKENING IS LIKELY DURING THE NEXT 24 HOURS. THE SYSTEM SHOULD LOSE TROPICAL CHARACTERISTICS ON MONDAY.
...
HURRICANE FORCE WINDS EXTEND OUTWARD UP TO 70 MILES FROM THE CENTER AND TROPICAL STORM FORCE WINDS EXTEND OUTWARD UP TO 205 MILES.
. ...
ESTIMATED MINIMUM CENTRAL PRESSURE IS...
991 MB... 29.26 INCHES.

. ***********************

More Up-To-Date Info on Kyle at...
NOAA’s Official Website -
HERE

Above Is Latest Satellite Imagery - Updates Every Few Minutes
.
Latest Satellite Loop Imagery at links below..
.
- Visible (night infrared) Satellite Loop HERE
- Floater #1 Visible (night infrared) Loop HERE
- Northwest Atlantic Infrared Loop HERE
.
*********************************
POST UPDATE: Monday, Sept. 29, 2008

At 11:00pm Sunday evening, September 28, 2008

KYLE LOSES TROPICAL CHARACTERISTICS AS IT PASSES NOVA SCOTIA... SATELLITE IMAGES INDICATE THAT KYLE IS NO LONGER A TROPICAL CYCLONE.


ALTHOUGH KYLE IS NO LONGER A TROPICAL CYCLONE... IT CONTINUES TO PRODUCE STRONG WINDS. MAXIMUM SUSTAINED WINDS ARE NEAR 70 MPH WITH HIGHER GUSTS. GRADUAL WEAKENING IS EXPECTED OVER THE NEXT DAY OR SO.

TROPICAL STORM FORCE WINDS EXTEND OUTWARD UP TO 240 MILES FROM THE CENTER.

ESTIMATED MINIMUM CENTRAL PRESSURE IS 986 MB... 29.12 INCHES.

THE NATIONAL HURRICANE CENTER HAS ISSUED ITS LAST AND FINAL PUBLIC ADVISORY ON THIS SYSTEM WITH THE 11:00pm ADVISORY... THIS WILL BE MY LAST UPDATE ON THIS STORM TOO.

AubreyJ......... .
Info, Map & Satellite Imagery by NWS TPC... National Hurricane Center, Miami FL/SSD

Pakistan: On Ground Updates - September 26, 2008

Pakistan: On Ground Updates
Pakistani Troops Fighting Mountain Battle That Generals Claim Will Break Back Of Taliban Insurgency Within Months
Friday, September 26, 2008

* Telegraph.co.uk brings us the following report...
Pakistani forces have killed up to 1,000 Islamist militants in an offensive for control over the northwestern region of Bajau...
Read the report at link below...
Battle with the Taliban: Pakistan could defeat militants in months
...
* The Times Of India has the following report posted on their website this early Friday afternoon...
Pakistan warned the US not to stray across the Afghan border into its territory after a gunbattle between the anti-terror allies that was praised by tribesman on Friday as a victory against Washington... As if to underline the point that Pakistan can beat al-Qaida and Taliban militants without American firepower, a top general said an offensive in another frontier province had killed more than 1,000 suspected insurgents and predicted the region would be "stabilized" within two months... Still, he also showed reporters photos of militant tunnel systems and trenches in Bajur, suggesting more tough fighting ahead in an area that is considered a likely hiding place for Osama bin Laden and other top al-Qaida leaders...
Read the full report at link below...
Pakistan tells US to stay out of its territory

* TimesOnline.co.uk had another report out this evening and it starts off like this... Tanks rumble along the dusty road and helicopter gunships hover. Soldiers keep a sharp eye out for snipers hiding inside the mud houses. Any gunmen will be the only ones at home: the inhabitants of this small border village have fled the fighting. In the distance there is the sound of machinegun fire as troops try to flush out militants holed up in a ravine. “It is not easy to dislodge these heavily armed men,” Colonel Javaid Baluch, a local commander, says. Earlier a grenade was thrown at an army bunker, blowing off the legs of a major and seriously injuring three others... This was the scene yesterday in the Bajaur tribal region, as it has been for much of the past six weeks. Bajaur, which borders southeastern Afghanistan, is a main operating base for al-Qaeda and the Taleban; Pakistani intelligence believes that Ayman al-Zawahri, the second-in-command of al-Qaeda, has been a visitor. Now it is the venue for the fiercest battle between Pakistani military and Islamic fighters since Pakistan joined the US War on Terror in 2001... More than 8,000 Pakistani troops have been involved in the six-week campaign. The generals claimed yesterday to have killed 1,000 militants so far – yet the hostilities show no sign of letting up. A constant supply of fresh fighters from inside the country and across the border in Afghanistan is helping the militants to stay in the fight...
Read the rest at link below...
8,000 Pakistani soldiers take on al-Qaeda in volatile tribal region

Update: Saturday, September 27, 2008.

* Telegraph.co.uk...
US secret forces are intensifying their cross-border raids into Pakistani tribal areas because of fears of a high-profile al-Qaeda attack during the American election campaign...
Read the report at link below...

US steps up Pakistan raids to thwart al-Qaeda 'October surprise' plot

Thursday, September 25, 2008

Afghanistan/Pakistan: On Ground Updates - September 25, 2008

Afghanistan/Pakistan: On Ground Updates
Pakistani Troops Fire on U.S. Choppers inside Afghanistan

Thursday
, September 25, 2008

Pakistani soldiers manning a border checkpoint fired on U.S. helicopters flying in Afghan airspace today, Defense Department officials said.

The aircraft were on a mission as part of the NATO-led International Security Assistance Force. The OH-58 Kiowas never intruded on Pakistani airspace, Pentagon spokesman Bryan Whitman said.

The Pakistani fire did not hit the choppers and the American aircraft did not return fire, Whitman said. "U.S. forces always maintain the right of self-defense," he said. "In this particular case, my understanding is they just broke off and didn't return fire."

The incident occurred near the Pakistan border in the Afghan province of Khowst, NATO officials in Kabul said. NATO officials are speaking with Pakistani military officials to get to the bottom of the situation.

"Over the past several weeks and months, we've been doing things to enhance this coordination along the border," Whitman said.

NATO, Afghanistan and Pakistan are working together to establish coordination centers along the border. One already is operational in Nangarhar province at Camp Torkham. The centers will work to prevent misunderstanding among the three entities, officials said.

"I think it's encouraging that at the time this incident occurred, we were immediately able to contact Pakistani authorities and determine the origin of the fire," Whitman said. "We'll have to work through how we prevent incidents like this in the future."

Al-Qaida and Taliban insurgents seek to exploit the border area where the terrain is difficult and it is easy to make mistakes, NATO officials said. However, the Taliban do not have helicopters, so it is unclear what message Pakistani troops believed they were sending, officials said. This is the first time Pakistani soldiers have fired on coalition aircraft, they said.

The Pakistani embassy had no immediate comment, Whitman said. Pakistan remains an ally and a good partner in the global war on terrorism, he said.


From press release by DoD’s American Forces Press Service - Written by Jim Garamone

Wednesday, September 24, 2008

President Bush Addresses Nation on Nation's Financial Crisis

About photo: President George W. Bush addressed the nation from the East Room of the White House, Wednesday evening, September 24, 2008, on the nation's financial crisis. President Bush has invited legislative leaders from the House and Senate, including both Presidential candidates, to a meeting Thursday at the White House to discuss a bipartisan plan to rescue the economy.
White House photo by Eric Draper

*****************

President's Address to the Nation
Wednesday Evening - September 24, 2008

* View the full video HERE
* Transcript in full below....
...
9:01 P.M. EDT

THE PRESIDENT: Good evening. This is an extraordinary period for America's economy. Over the past few weeks, many Americans have felt anxiety about their finances and their future. I understand their worry and their frustration. We've seen triple-digit swings in the stock market. Major financial institutions have teetered on the edge of collapse, and some have failed. As uncertainty has grown, many banks have restricted lending. Credit markets have frozen. And families and businesses have found it harder to borrow money.

We're in the midst of a serious financial crisis, and the federal government is responding with decisive action. We've boosted confidence in money market mutual funds, and acted to prevent major investors from intentionally driving down stocks for their own personal gain.

Most importantly, my administration is working with Congress to address the root cause behind much of the instability in our markets. Financial assets related to home mortgages have lost value during the housing decline. And the banks holding these assets have restricted credit. As a result, our entire economy is in danger. So I've proposed that the federal government reduce the risk posed by these troubled assets, and supply urgently-needed money so banks and other financial institutions can avoid collapse and resume lending.

This rescue effort is not aimed at preserving any individual company or industry -- it is aimed at preserving America's overall economy. It will help American consumers and businesses get credit to meet their daily needs and create jobs. And it will help send a signal to markets around the world that America's financial system is back on track.

I know many Americans have questions tonight: How did we reach this point in our economy? How will the solution I've proposed work? And what does this mean for your financial future? These are good questions, and they deserve clear answers.

First, how did our economy reach this point?

Well, most economists agree that the problems we are witnessing today developed over a long period of time. For more than a decade, a massive amount of money flowed into the United States from investors abroad, because our country is an attractive and secure place to do business. This large influx of money to U.S. banks and financial institutions -- along with low interest rates -- made it easier for Americans to get credit. These developments allowed more families to borrow money for cars and homes and college tuition -- some for the first time. They allowed more entrepreneurs to get loans to start new businesses and create jobs.

Unfortunately, there were also some serious negative consequences, particularly in the housing market. Easy credit -- combined with the faulty assumption that home values would continue to rise -- led to excesses and bad decisions. Many mortgage lenders approved loans for borrowers without carefully examining their ability to pay. Many borrowers took out loans larger than they could afford, assuming that they could sell or refinance their homes at a higher price later on.

Optimism about housing values also led to a boom in home construction. Eventually the number of new houses exceeded the number of people willing to buy them. And with supply exceeding demand, housing prices fell. And this created a problem: Borrowers with adjustable rate mortgages who had been planning to sell or refinance their homes at a higher price were stuck with homes worth less than expected -- along with mortgage payments they could not afford. As a result, many mortgage holders began to default.

These widespread defaults had effects far beyond the housing market. See, in today's mortgage industry, home loans are often packaged together, and converted into financial products called "mortgage-backed securities." These securities were sold to investors around the world. Many investors assumed these securities were trustworthy, and asked few questions about their actual value. Two of the leading purchasers of mortgage-backed securities were Fannie Mae and Freddie Mac. Because these companies were chartered by Congress, many believed they were guaranteed by the federal government. This allowed them to borrow enormous sums of money, fuel the market for questionable investments, and put our financial system at risk.

The decline in the housing market set off a domino effect across our economy. When home values declined, borrowers defaulted on their mortgages, and investors holding mortgage-backed securities began to incur serious losses. Before long, these securities became so unreliable that they were not being bought or sold. Investment banks such as Bear Stearns and Lehman Brothers found themselves saddled with large amounts of assets they could not sell. They ran out of the money needed to meet their immediate obligations. And they faced imminent collapse. Other banks found themselves in severe financial trouble.

These banks began holding on to their money, and lending dried up, and the gears of the American financial system began grinding to a halt.

With the situation becoming more precarious by the day, I faced a choice: To step in with dramatic government action, or to stand back and allow the irresponsible actions of some to undermine the financial security of all.

I'm a strong believer in free enterprise. So my natural instinct is to oppose government intervention. I believe companies that make bad decisions should be allowed to go out of business. Under normal circumstances, I would have followed this course. But these are not normal circumstances. The market is not functioning properly. There's been a widespread loss of confidence. And major sectors of America's financial system are at risk of shutting down.

The government's top economic experts warn that without immediate action by Congress, America could slip into a financial panic, and a distressing scenario would unfold:

More banks could fail, including some in your community. The stock market would drop even more, which would reduce the value of your retirement account. The value of your home could plummet. Foreclosures would rise dramatically. And if you own a business or a farm, you would find it harder and more expensive to get credit. More businesses would close their doors, and millions of Americans could lose their jobs. Even if you have good credit history, it would be more difficult for you to get the loans you need to buy a car or send your children to college. And ultimately, our country could experience a long and painful recession.

Fellow citizens: We must not let this happen. I appreciate the work of leaders from both parties in both houses of Congress to address this problem -- and to make improvements to the proposal my administration sent to them. There is a spirit of cooperation between Democrats and Republicans, and between Congress and this administration. In that spirit, I've invited Senators McCain and Obama to join congressional leaders of both parties at the White House tomorrow to help speed our discussions toward a bipartisan bill.

I know that an economic rescue package will present a tough vote for many members of Congress. It is difficult to pass a bill that commits so much of the taxpayers' hard-earned money. I also understand the frustration of responsible Americans who pay their mortgages on time, file their tax returns every April 15th, and are reluctant to pay the cost of excesses on Wall Street. But given the situation we are facing, not passing a bill now would cost these Americans much more later.

Many Americans are asking: How would a rescue plan work?

After much discussion, there is now widespread agreement on the principles such a plan would include. It would remove the risk posed by the troubled assets -- including mortgage-backed securities -- now clogging the financial system.
This would free banks to resume the flow of credit to American families and businesses. Any rescue plan should also be designed to ensure that taxpayers are protected. It should welcome the participation of financial institutions large and small. It should make certain that failed executives do not receive a windfall from your tax dollars. It should establish a bipartisan board to oversee the plan's implementation. And it should be enacted as soon as possible.

In close consultation with Treasury Secretary Hank Paulson, Federal Reserve Chairman Ben Bernanke, and SEC Chairman Chris Cox, I announced a plan on Friday. First, the plan is big enough to solve a serious problem. Under our proposal, the federal government would put up to $700 billion taxpayer dollars on the line to purchase troubled assets that are clogging the financial system. In the short term, this will free up banks to resume the flow of credit to American families and businesses. And this will help our economy grow.

Second, as markets have lost confidence in mortgage-backed securities, their prices have dropped sharply. Yet the value of many of these assets will likely be higher than their current price, because the vast majority of Americans will ultimately pay off their mortgages. The government is the one institution with the patience and resources to buy these assets at their current low prices and hold them until markets return to normal. And when that happens, money will flow back to the Treasury as these assets are sold. And we expect that much, if not all, of the tax dollars we invest will be paid back.

A final question is: What does this mean for your economic future?

The primary steps -- purpose of the steps I have outlined tonight is to safeguard the financial security of American workers and families and small businesses. The federal government also continues to enforce laws and regulations protecting your money. The Treasury Department recently offered government insurance for money market mutual funds. And through the FDIC, every savings account, checking account, and certificate of deposit is insured by the federal government for up to $100,000. The FDIC has been in existence for 75 years, and no one has ever lost a penny on an insured deposit -- and this will not change.

Once this crisis is resolved, there will be time to update our financial regulatory structures. Our 21st century global economy remains regulated largely by outdated 20th century laws. Recently, we've seen how one company can grow so large that its failure jeopardizes the entire financial system.

Earlier this year, Secretary Paulson proposed a blueprint that would modernize our financial regulations. For example, the Federal Reserve would be authorized to take a closer look at the operations of companies across the financial spectrum and ensure that their practices do not threaten overall financial stability. There are other good ideas, and members of Congress should consider them. As they do, they must ensure that efforts to regulate Wall Street do not end up hampering our economy's ability to grow.

In the long run, Americans have good reason to be confident in our economic strength. Despite corrections in the marketplace and instances of abuse, democratic capitalism is the best system ever devised. It has unleashed the talents and the productivity, and entrepreneurial spirit of our citizens. It has made this country the best place in the world to invest and do business. And it gives our economy the flexibility and resilience to absorb shocks, adjust, and bounce back.

Our economy is facing a moment of great challenge. But we've overcome tough challenges before -- and we will overcome this one. I know that Americans sometimes get discouraged by the tone in Washington, and the seemingly endless partisan struggles. Yet history has shown that in times of real trial, elected officials rise to the occasion. And together, we will show the world once again what kind of country America is -- a nation that tackles problems head on, where leaders come together to meet great tests, and where people of every background can work hard, develop their talents, and realize their dreams.

Thank you for listening. May God bless you.


END 9:14 P.M. EDT

From White House Press Release - Office of the Press Secretary
.
****************************
.
Make sure to spread your money out... for keeping over $100.000.00 in just one Bank and it goes under... well... everything over that $100,000.00 goes under with it. And you’re NOT going to EVER get it back!

At least make sure to talk with the ones you trust the most on these kinds of matters and proceed accordingly.

These are very serious times we are in right now and there are no guaranties as to how it is all going to work out when the dust clears...

Just saying...
AubreyJ.........

Photo for the Day - September 24th, 2008

* Photo for the Day * Major Jason Tussey, operations officer for the 1st Squadron, 32nd Cavalry Regiment, awaits extraction from UH-60 Black Hawk helicopters during Operation Abbeville near Darwish Village, Sept. 19, 2008.
Read the story at link below...
Joint Air Operation Tightens Clamp on Remaining Few AQI
Photo by Sgt. 1st Class Kevin Doheny, 1st Brigade Combat Team, 101st Airborne Division (AA) Public Affairs

#21- Haynesville Shale Updates - Post Date Wednesday, September 24, 2008

Haynesville Shale
Large Natural Gas Deposit, Northwest Louisiana
UPDATES:
September, 2008

.........
Hello everyone...
Here’s a little News Video report I found yesterday at the BBC News website, that I thought you just might like to watch.
Click it out at link below...
Natural gas makes residents rich
.
Thanks for stopping by...
AubreyJ.........
.
More below...

Photo Credit: AubreyJ.........
Wells of Past, 1967 - Grandfather’s Farm - Red Shute Plantation
Bossier Parish

***************************************
.
Wednesday, September 24, 2008

* The Fort Worth Business Press has this troubling news for us folks in the Ark-La-Tex with larger than norm interest in the Haynesville Shale gas field... Chesapeake Energy Corp. plans to cut 17 drilling rigs by the end of the year and reduce its drilling budget by 17 percent, or $3.2 billion, over the next two years in response to a 50 percent decrease in natural gas prices, according to a press release... The Oklahoma City-based natural gas development company also dropped its fiscal year 2008 production target to 18 percent, from 21 percent, and will continue to seek a 25 percent interest partner in its Marcellus Shale holdings. 2009 and 2010 production targets were reduced to 16 percent, from 19 percent...
Read the rest at link below...
Chesapeake Energy cuts budget, lowers outlook in response to natural gas price drop
> Read the full Chesapeake Energy Corp Press Release HERE
.
* KTBS.com had this report/news video about Chesapeake’s cutback...
Chesapeake reducing spending on natural gas drilling
> Here’s another report/news video that KTBS had posted yesterday, talking about the Haynesville Shale helping in jumpstarting the DeSoto economy...
DeSoto parish looks to cash in on Haynesville shale
.
* The Shreveport Times had this posted on their website on the 12th of September...
Regency Energy Partners LP this week announced plans to expand its pipeline system in north Louisiana to bring natural gas from the Haynesville Shale - one of the most active new natural gas plays in the United States - to market...
Read the rest at link below...
Regency Energy Partners announces major expansion of Louisiana pipeline system
.
* MarketWatch had the following article on their website on the 22nd of September...
Petro Resources Announces Participation in East Texas Bossier Trend Project
.
***************************************
.
Post Update:
Thursday
, September 25, 2008
.
* CNNMoney.com has this report posted on their website today and it goes in part like this. ...the latest deal would reduce the company's debt by at least $1 billion and allow the oil-and-gas explorer to focus more closely on its 20% interest in the Haynesville Shale natural gas field in Louisiana and East Texas. Plains purchased the interest in July in the hot new drilling area in a joint venture deal valued at as much as $3.3 billion... "The Haynesville Shale will become a key driver to our production and reserve growth for most of the next decade while bolstering our return on investment," Plains said Thursday...
Read the full report at link below...
Occidental To Buy Rest Of Plains' Stake In Props For $1.25 Billion
...... .
* Forbes.com
reported it this way...
Oil and gas producer Plains Exploration & Production is shedding stakes in energy properties in Colorado and Texas to concentrate on its interest in Louisiana's vaunted Haynesville Shale play that it gained through a joint venture with Chesapeake Energy...
Read the full report at link below...
Plains Hones In On Haynesville
.
********************************
.
Post Update:
Sunday,
September 2, 2008
.
MarshallNewsMessenger.com is reporting...
...Kilgore College Small Business Development Center is presenting a seminar just for you — Mineral Owner Rights — in Marshall and Longview... Mac Abney of Abney, Simmons and Company, and Dean Searle, attorney-at-law, will be the presenters for this seminar...
Read more at link below...
Seminars set for mineral owners
..
* MORE TO COME SO CHECK BACK! *

.
******************************.


* Links of Interest *
.
* City of Shreveport website...
Shreveport Shale
.
.
.
.
.....
> At the following TwinCitiesDev.com link, you can click on various parts of the rig (indicated by numbers) and read or listen to part descriptions...
Parts of a Drilling Rig described
.
> At the following TwinCitiesDev.com link, you can you can learn how the Fracing Process makes it possible to release gas from deep below the surface...
Fracing Process

Requires QuickTime Player
Click HERE for Free QuickTime Player Download
.
> At the following TwinCitiesDev.com link, you can watch how horizontal drilling increases production rates while reducing the impact to the surface...


.
* Gas Leases - You’re sitting on a Gas Mine
This link is full of info you need to know before signing an Oil/Gas Lease Contract
Click it out at link below...
*********************************
.
* Past Post *

> Sunday, May 4, 2008...
.
> Sunday, May 11, 2008...
.
> Thursday, May 15, 2008...
.
> Wednesday, May 21, 2008...
.
> Thursday, May 29, 2008...
.
> Thursday, June 5, 2008...

> Monday, July 14, 2008...
#12 Haynesville Shale Updates - Tuesday, July 28, 2008
.
> Tuesday, August 05, 2008...


********************************************
AubreyJ.........

DoD Identifies Army Casualty

No. 809-08 September 24, 2008
DoD Identifies Army Casualty


The Department of Defense announced today the death of a soldier who was supporting Operation Iraqi Freedom.
1st Lt. Thomas J. Brown, 26, of Burke, Va., died September 23rd in Salman Park, Iraq, of wounds suffered when his patrol came under small arms fire during dismounted operations. He was assigned to the 2nd Battalion, 6th Infantry Regiment, 2nd Brigade Combat Team, 1st Armored Division, Baumholder, Germany.
For more information media may contact the U.S. Army, Europe, public affairs office at 011-49-6221-57-5816 or 8694, or email: ocpa.pi@eur.army.mil.

Tuesday, September 23, 2008

AubreyJ’s Energy Update Report - September 23, 2008

AubreyJ’s Energy Update Report
Oil Prices Exploded Monday Making Biggest Single-Day Price Gain Ever

Tuesday, September 23, 2008
.
File Photo by DoE
..
* BusinessWeek.com had this bit of news posted on their website yesterday for us concerning Crude Oil Prices... A weak dollar and worries about the Wall Street bailout send investors flooding back into the oil market Monday...
Read this article in full at link below...
Oil Prices Explode
.
* AP.Google.com updates us this Tuesday morning with the following report... Oil prices swung lower Tuesday, falling below $107 a barrel as traders cashed in profits a day after crude rocketed to its biggest one-day gain ever - an epic rally apparently triggered in part by a technical fluke... It was crude's first down session in five days. A slightly stronger dollar also weighed on prices as investors who had bought the commodity as a hedge against inflation sold their contracts; the dollar took a steep dive Monday, helping to fuel oil's 16 percent rise that day... Still, oil market watchers say crude is showing early signs that it may be poised for another big climb...
Read the rest at link below...

Oil prices fall on profit-taking after huge rally
.
* KHOU.com has the following report on gas shortages and possible higher gasoline prices... Some gasoline stations in parts of the Southeast are out of fuel and shortages could persist for days as refiners continue to recover from the one-two punch of hurricanes Ike and Gustav... Industry officials also say a crush of people topping off tanks or panic buying in some cases—can worsen the problem... “The system is not equipped for that,” said Jeff Lenard, spokesman for the National Association of Convenience Stores, which represents more than 2,200 gasoline retailers. “The system is equipped for people to buy gas once or twice a week.”... Meantime, it’s likely that gasoline will get more expensive following the biggest one-day spike ever in the price of oil Monday...
Read the rest at link below...
Ike blamed for gas shortage that could persist for days
.
* The Fort Worth Business Press has this troubling news for us folks in the Ark-La-Tex with larger than norm interest in the Haynesville Shale gas field... Chesapeake Energy Corp. plans to cut 17 drilling rigs by the end of the year and reduce its drilling budget by 17 percent, or $3.2 billion, over the next two years in response to a 50 percent decrease in natural gas prices, according to a press release... The Oklahoma City-based natural gas development company also dropped its fiscal year 2008 production target to 18 percent, from 21 percent, and will continue to seek a 25 percent interest partner in its Marcellus Shale holdings. 2009 and 2010 production targets were reduced to 16 percent, from 19 percent...
Read the rest at link below...

Chesapeake Energy cuts budget, lowers outlook in response to natural gas price drop
> Read the full Chesapeake Energy Corp Press Release HERE
McClendon photo courtesy of Chesapeake
.
**********************
AubreyJ.........