U.S. officials have been searching and seizing laptops, digital cameras, cell phones and other electronic devices at airports and other border crossings, of random U.S. citizens re-entering the United States. Apparently, keeping the electronic gear for up to two weeks.
The Baltimore Sun has the story, here.
Rep. Anthony Weiner, D-N.Y wants Congress to amend current visa rules to allow 1,000 foreign models into the United States each year under their own immigrant classification.
Greg Mankiw has the details.
John A. DiCicco, Deputy Assistant Attorney General for the Justice Departments Tax Division said in a statement:
We are working cooperatively with both the Swiss government and UBS to obtain this information. However, we are prepared to seek enforcement if that process is not successful.
Of course, with $20 billion in hidden assets at UBS, there are probably some major players who may have some influence at top government levels and who may attempt to squash the investigation.
Oh, what some will do, say or advocate for the love of Obama.
Rising interest rates are certainly in the future, especially if another $500 billion "stimulus" package is launched, but Gross' timing on the accelerating inflation is off. The acceleration is already occurring. And somewhere, early on, in the next administration, whether it is an Obama or McCain administration, the inflation rate could very well hit 20%, if the Federal Reserve continues to print money at double digit rates.
Sen. Joe Lieberman I-Conn. says a terrorist attack in the Unted States is likely in 2009.
"Our enemies will test the new president early," Lieberman, I-Conn., told Face The Nation host Bob Schieffer. "Remember that the truck bombing of the World Trade Center happened in the first year of the Clinton administration. 9/11 happened in the first year of the Bush administration.
This $300 billion Dodd-Shelby bailout is an absolute crime. It bails out the banks by limiting their loss to 10%; a joke since many of the problem areas like CA are down as much as 30% already on the median in the past 12-months and the rate of acceleration of the price declines are picking up steam. The subprime crisis is nearly over and now Prime, Alt-A, Pay Option ARMs and Home Equity Lines/Loans are failing. If they get this $300 billion passed, another $1 trillion+ will have to come on its heels for all of the other bailouts.
Bernanke then had the chutzpah to add:
The Federal Reserve and other central banks have learned the lessons of the 1970s… as a central banker, I would be remiss if I failed to mention the contribution of monetary policy to the improved productivity performance.
Federal Reserve Chairman Ben Bernanke ’75 spoke to Harvard College’s graduating class today in Tercentanary Theatre at Harvard.
Bernanke spoke to the class about the year 1975, the year he graduated from Harvard. He told the class:
Then as now, we were experiencing a serious oil price shock, sharply rising prices for food and other commodities, and subpar economic growth. But I see the differences between the economy of 1975 and the economy of 2008 as more telling than the similarities.
