Fox: Rosen/Hillary interview transcript

JAMES ROSEN: Are you more partial to the irrepressible melodies and hand-clapping of the “Please Please Me” era or to the world-weary, drug-fueled existentialism of their later work?

SECRETARY CLINTON: [Laughs] Well, like so many Beatles fans, it depends both on mood and stage of life. I have to confess, since I am older than you, that the hand-clapping mode was what I first was captured by. “I Want to Hold Your Hand” was an anthem, as you might imagine. But then, as I went through my angst period –

JAMES ROSEN: [Laughs]

SECRETARY CLINTON: — and, you know, struggled with the challenges of living in the real world, the more existential message struck home.

JAMES ROSEN: Do you have a favorite Beatles song?

SECRETARY CLINTON: Well, it, it sort of is on the, you know, more existential side. I’ve always loved “Hey Jude.” Now don’t ask me why — because that’s almost Biblical in meaning, as you know.

JAMES ROSEN: I do know.

SECRETARY CLINTON: Yes. And I know that you’re a collector –

JAMES ROSEN: [Laughs]

SECRETARY CLINTON: — of memorabilia. And I always have been sort of moved by the range of emotion in The Beatles. But at the end of the day, I think, you know, Lennon and McCartney were geniuses. And I’m just glad I got to live through that period.

JAMES ROSEN: I suppose it was too much to expect that the American secretary of state, on her first trip overseas, would advocate on behalf of “Revolution.”

SECRETARY CLINTON: No. In fact, you understand the reasons why that might not be appropriate. [Laughs]

JAMES ROSEN: Madame Secretary, thank you.

SECRETARY CLINTON: Thank you, James.

[From  transcript of an interview with Secretary of State Hillary Clinton conducted by James Rosen in Seoul, South Korea on Feb. 20, 2009. ]

foxnews.com/politics/2009/02/20/transcript-fox-news-interview-secretary-state-hillary-clinton-james-rosen/

Financial Times - Banks Likely to be Nationalized

US bank shares near 17-year lows

By Francesco Guerrera and Aline van Duyn in New York and Krishna Guha in Washington

Published: February 20 2009 01:03 |

US bank shares hit a near 17-year low on Thursday on rising fears the government will have to nationalise troubled institutions such as Citigroup and Bank of America, wiping out investors and taking control of a large portion of the financial sector.

Bank of America shares slid 14 per cent to $3.93, their lowest point since 1984. Shares in Citi were down 13.8 per cent, closing at $2.51, their lowest since 1991. The KBW banks index fell to its lowest level since 1992. In the debt markets, Citi’s bonds were trading at distressed levels...

Full Article at: http://www.ft.com/cms/s/0/d75e8598-fee6-11dd-b19a-000077b07658.html?nclick_check=1

Powerlineblog -- Who's The Coward?

Attorney General Holder has called America "a nation of cowards" when it comes to "things racial." According to Holder, "average Americans" are afraid to "talk enough with each other about race."

By using the word "cowards," Holder has gotten himself some attention, at least for today. That's ironic because his long-winded speech is 99 percent content free.

To add to the irony, in the one place where Holder introduces a little content, he demonstrates that he has no interest in genuine dialogue, and reveals himself to be a "coward" on "things racial."

Here is Holder on the crucial issue of "affirmative action" (a coward's name for race-based preferences):

There can, for instance, be very legitimate debate about the question of affirmative action. This debate can, and should, be nuanced, principled and spirited. But the conversation that we now engage in as a nation on this and other racial subjects is too often simplistic and left to those on the extremes who are not hesitant to use these issues to advance nothing more than their own, narrow self interest.

So in one breath, Holder calls for a frank discussion of race, rather than the normal polite talk that evades tough issues; in the next breath, he attempts to rule out of the debate positions that he finds "extreme" while demonizing those who hold them. In the one instance where Holder is willing to be specific, we learn that his real complaint is not the absence of candid discussion, but rather the articulation of positions he doesn't like.

We have plenty of problems as a nation. I doubt that insufficient discussion of race is one of them. But if it is, Holder's mindset is part of the problem, not part of the solution.

German paper long transcription: Bill Clinton talks to Larry King

[ Long interview with Bill Clinton on many subjects ]

KING: Do you resent it when the Bush people say that this problem started with you, it started in your administration?

CLINTON: Well, they don't have much evidence for that. I always answer, does anyone seriously believe if the team I had in place had been in place for the last eight years that this would have happened?

And the answer to that is no. We had a much more vigorous regulatory environment with the Securities and Exchange Commission. We were watching these derivatives. I do think we should have done more on derivatives.

But the suggestion they have that because we required banks, for the first time, to live up to the requirements of the Community Reinvestment Law, which says you're supposed to loan money back to the people who deposit money in your bank, contributed to this, I just think is factually wrong.

If you look all over America, the community banks -- the ones that reinvested in their communities -- were not the people that caused this problem. They did well.

Much more at:

http://www.welt.de/english-news/article3227431/Bill-Clinton-talks-to-Larry-King.html

Kelly: Obama is Big on Symbolism

With so many of [Obama's] nominees having to withdraw because of ethical problems, it was refreshing to have [Gregg] withdraw because he had ethics. [....]

President Obama is very big on symbolism. He is signing the bill in Denver, the city where he was nominated for president, on Tuesday (in violation of his pledge to have at least five days elapse between passage of a law and his signing of it to allow time for public comment), because Tuesday is four weeks precisely since his inauguration.

Symbolism is important. But presidents ultimately are judged on substance.

By Jack Kelly

Latest posts from Midstream News

NYT - Bailout Robbing Banks?

[This is an op-ed piece but contains useful info]

The Bailout Is Robbing the Banks

By JOHN C. COATES and DAVID S. SCHARFSTEIN
Published: February 17, 2009

MANY Americans are angry at banks for taking bailout money while still cutting back on lending. But the government is also to blame. For reasons that remain unclear, the Troubled Asset Relief Program has channeled aid to bank holding companies rather than banks. The Obama administration’s new Financial Stability Plan will have more influence on bank lending if it actually directs its support to banks.

Full article at: http://www.nytimes.com/2009/02/18/opinion/18scharfstein.html?_r=1&th&emc=th

TUESDAY, FEBRUARY 17, 2009

Bloomberg - Stock Market Woes

U.S. Stocks Slide to 3-Month Low on Recession Concern; GM Sinks
By Elizabeth Stanton

Feb. 17 (Bloomberg) -- U.S. stocks tumbled to a three-month low, extending a global slump, as a record contraction in New York manufacturing spurred concern the government’s stimulus package won’t be enough to curb the deepening recession.

Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co. each lost 12 percent. Exxon Mobil Corp. was the biggest drag on the Standard & Poor’s 500 Index as oil slid almost 7 percent. General Motors Corp., the largest U.S. carmaker, sank 13 percent as it took its case for more government support to the Treasury Department. Banks led declines in Europe and Asia on concern they may face ratings downgrades and more losses.

Full Article at: http://bloomberg.com/apps/news?pid=20601087&sid=a3VqcI4keryE&refer=home

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