Euro declines most since inception, European bank failures similar to US

From Bloomberg.com

Euro Falls Most Against Dollar Amid European Banking Failures
By Daniel Kruger and Ye Xie

Sept. 30 (Bloomberg) -- The euro fell the most against the dollar since the introduction of the shared currency in 1999 after France and Belgium led a state-backed rescue of Dexia SA, as the widening financial crisis forces governments to prop up financial institutions across Europe.

The 15-nation currency also weakened against the British pound after Belgian Prime Minister Yves Leterme said Dexia, the world's biggest lender to local governments, will receive about $9.2 billion to shore up its capital. The dollar rose against the yen on speculation the U.S. Senate will salvage a $700 billion bank-bailout plan as early as tomorrow after Congress rejected it yesterday.

``The consensus is the U.S. banking system is a little bit further along in its exposure of its toxic assets,'' said Firas Askari, head currency trader at BMO Nesbitt Burns in Toronto. ``It's a case of which is relatively worse. The dollar's going to benefit against the euro because Europe has more to expose.''

The euro fell 2.5 percent to $1.4079 at 11:55 a.m. in New York, from $1.4434 yesterday. The euro also slid to 149.10 yen from 150.38. It earlier reached 148.55, the weakest since Sept. 16. The yen weakened to 1056.93 per dollar from 104.18, after earlier reaching 103.54, also the most since Sept. 16.

The capital infusion for Dexia comes two days after Belgium, the Netherlands and Luxembourg rescued Fortis, the largest Belgian financial-services company, Britain took control of Bradford & Bingley Plc, the country's biggest lender to landlords, and Germany bailed out Hypo Real Estate Holding AG.

Implied volatility on one-month euro-dollar options rose to 16.9575 percent, or the highest in almost eight years. On Sept. 18, it reached 15.55 percent, the same level that triggered the Group of Seven nations to buy euros in 2000 to halt the 27 percent slide from its 1999 debut.

`Fundamentals Are Irrelevant'

Banks are being squeezed amid a surge in borrowing costs as lenders hoard cash on concern more financial institutions will fail. The euro interbank offered rate, or Euribor, that banks charge each other for one-month loans climbed to a record 5.05 percent today, the European Banking Federation said.

The London interbank offered rate, or Libor, that banks charge each other for such loans in dollars climbed 431 basis points to an all-time high of 6.88 percent today, the British Bankers' Association said.

``There's a dollar shortage globally,'' said Alan Ruskin, head of international currency strategy in North America at RBS Greenwich Capital Markets Inc. in Greenwich, Connecticut. ``Demand for liquidity trumps the fundamentals. Fundamentally, the U.S. is awful, and Europe is awful. Fundamentals are irrelevant today.''

Cross Currency Swaps

Foreign banks are paying the highest premiums in at least a decade to borrow in dollars in the swaps market even after the Federal Reserve more than doubled the amount of funds available to other central banks yesterday by expanding swap lines.

The Fed's actions included increasing existing currency swaps with foreign central banks by $330 billion to $620 billion to make more dollars available worldwide. The European Central Bank, the Bank of England and the Bank of Japan are among the participating authorities.

The price on one-year cross-currency basis swaps between yen and dollars reached minus 70 basis points, the biggest effective premium for dollar funding since Bloomberg began tracking the data in 1997. The highest reached in 1998, during the Asian banking crisis was minus 38.5 basis points in October 1998, according to Bloomberg data.

`Mad Scramble'

``There is a mad scramble for U.S. dollar funding demand from a global U.S. dollar-based financial system,'' said Claudio Piron, Singapore-based head of Asian currency research at JPMorgan Chase & Co, the second-biggest U.S. bank by market value. ``Central banks have been extending swap lines as lenders of the last resort. The banks access this liquidity, but they hoard it for themselves as they believe it too risky to lend to anyone else.''

The U.S. Senate will try to revive a $700 billion financial-rescue package after yesterday's defeat in the House of Representatives. The bill would have allowed the government to buy troubled assets from banks. Institutions posted $590 billion of losses and writedowns since the start of last year following the collapse of the U.S. subprime-mortgage market.

Rising Yen

Higher-yielding currencies recouped losses against the Japanese yen as Europe's benchmark Dow Jones Stoxx 600 Index gained 1 percent. The Australian dollar rose 1.2 percent to 84.84 yen after falling 4.9 percent yesterday. The New Zealand dollar gained 2.2 percent to 71.55 yen after dropping 3.7 percent yesterday.

``I would be very cautious in betting on further near-term dollar-yen losses,'' said Michael Klawitter, a currency strategist at Dresdner Kleinwort in Frankfurt. ``Any positive news on the political front would have quite an impact.''

The yen typically declines when demand for high-yielding currencies rises, as traders put on so-called carry trades. In such transactions, investors get funds in countries with low borrowing costs and buy assets where returns are higher. Japan's 0.5 percent target lending rate compares with 7 percent in Australia and 7.5 percent in New Zealand.

The yen rose the most of all 16 most-actively traded currencies yesterday after the Standard & Poor's 500 Index plunged the most since the 1987 crash.

The Japanese currency is up 12 percent against the euro this quarter. The dollar has fallen 0.3 percent against the yen, paring a 7 percent gain in the previous three months. The euro is down 11 percent against the dollar.

To contact the reporters on this story: Daniel Kruger in New York at dkruger1@bloomberg.net; Kim-Mai Cutler in London at kcutler@bloomberg.net.

Last Updated: September 30, 2008 12:04 EDT

Children sing for Obama (their parents' messiah)

Sing for change! This song is really something else. Watch the parents. They look so proud. From the way I look at this video, I see them singing about Obama as if he was a god to them. And, I feel sorry for the children having to go through this pain. I really 'hope' they weren't brainwashed by this. I 'hope' they will have their own minds when they are able to vote.

I will admit, this song has a catchy tune.

An Explanation of the Economic Crisis

Save the candy from global warming!

I have heard about these commercials, but I had never seen it. Until now. I was watching ESPN's SportsCenter today, you know their LIVE morning edition. Then I saw it. A Reese's ad saying to stop global warming or all the Reese's will melt.

Oh, no! That struck me. I must now stop global warming to save my precious candy bar.

Come on! Is this a nation full of idiots? What is the Hershey's ad campaign thinking? Apparently they are not. I do believe Hershey's has smokestacks and Al Gore says that smokestacks are bad. This is just hilarious!

Here is the ad from YouTube and listen to the music (chilling isn't it?):

Obama forgets his opponent, attacks Limbaugh

The last time I checked, Rush Limbaugh was not running for president. But, why is he shown in a Barack Obama Campaign attack ad? Limbaugh and John McCain do not agree on most issues. And, Limbaugh has not even endorsed McCain. But, the Obama Campaign says that by Limbaugh criticizing Obama that means that he endorses McCain.

The Obama Campaign took Limbaugh's words out of context when he had a segment he titled "Limbaugh Laws" where he described the immigration laws of Mexico. If you want to hear the real context of Limbaugh, click this link below:
Rush Limbaugh's actual words on tape

Now after hearing the true context of Limbaugh, here is the Obama ad titled "Dos Caras" where he attacks Limbaugh


Rush Responds to Obama Campaign with WSJ Op-Ed

Word of advise to the Obama Campaign, focus on your opponent and not on Rush Limbaugh. Limbaugh is too smart for your campaign and he will not sit still and be attacked. This only shows that the Obama Campaign is getting desperate.

Obama Heckled in Florida

Obama22 blacks against obama
by dollarsandsense123

Finally somebody is heckling Barack Obama. Wherever John McCain goes this is what he sees. So finally Obama can face the tough questions from people who disagree with him. He's had it too easy being with all of his worshippers for so long. This proves that their are some informed voters out there. Obama-Biden should be afraid, very afraid.




Photos are courtesy of the Associated Press and the video is courtesy of MSNBC.

Are you a true believer?

Barack Obama has the power to reconcile all people of different religious beliefs. He will end the turmoil between the Jews and the Palestinians, the Hindus of India and the Muslims of Pakistan, the Eastern Orthodox Church and the Roman Catholics and the Lutherans and the Roman Catholics.

This is from the Barack Obama campaign website, faith.barackobama.com, Barack Obama is a committed Christian and believes the people of all faiths have a place in American public life. Through an unprecedented grassroots effort, the Obama campaign is working with thousands of you to build an America rooted in compassion and a government that, in Barack’s words, ‘reconciles the beliefs of each with the good of all.’

Imagine if Sarah Palin or John McCain did this? Just imagine.

Polls bring fear to Democrats, Obama

Ever since the Republican National Convention in St. Paul, Minn., the nationwide polls have been in favor of Sen. John McCain. And, it isn't like it is even close. Today's Gallop Daily Tracking Poll has McCain leading Barack Obama 48 percent to 43 percent.

Now, typically it is these same Democrats who say that polls don't matter whenever a Republican is leading, but why are they worrying now? They love the polls when they are winning. Well, for one thing, Obama has been leading in the polls for months now. Secondly, McCain chose Sarah Palin as his running-mate when Obama should have chosen Hillary Clinton. Palin seems to be a more likable person than Joe Biden.

And now, Obama seems to be acting not very presidential. He is blaming McCain for being mean and distorting his words. Well, if Obama would listen to what he says, he would realize that it his himself that is ruining his chance on becoming the next president. Just watch this video below, oh, Barack Obama, you are a riot! You are the next Jerry Seinfeld! Keep it up.

Remember this is the same Obama who flipped the bird at Hillary Clinton at a debate. He is the lord of dirty politics. Let it be the flipping the bird to the "put lipstick on a pig" comment. It is all the same. This is the real Obama, the man who knows nothing else than throw dirt when he feels the pressure.


(Video is courtesy of the Associated Press via YouTube.)

Links

Politico- Autumn Angst: Dems fret about Obama
Palin to be on ABC's "20/20" on Friday

Biden: Hillary may have been better choice

(From ABCNews.com)

Biden: Hillary a Better Pick Than Me

September 10, 2008 5:17 PM

ABC News' Matthew Jaffe reports: Sen. Barack Obama's, D-Ill., vice presidential nominee, Sen. Joe Biden, D-Del., Wednesday said that Sen. Hillary Clinton, D-N.Y., might have been a better pick for the position than him.

At a rally in Nashua, N.H., a man in the audience told Biden how glad he was that Obama picked him over Hillary, "not because she's a woman, but because, look at the things she did in the past."

"Make no mistake about this," Biden responded. "Hillary Clinton is as qualified or more qualified than I am to be vice president of the United States of America. Let’s get that straight. She’s a truly close personal friend, she is qualified to be president of the United States of America, she’s easily qualified to be vice president of the United States of America, and quite frankly, it might have been a better pick than me. But she’s first rate, I mean that sincerely, she’s first rate, so let’s get that straight."

Spokesman Ben Porritt offered this response from the McCain camp: "Barack Obama’s most important decision of this election, and Biden -- the candidate he selects -- suggests, himself, that he wasn’t the right man for the job, and that Hillary Clinton would have been a better choice. Biden certainly has a credible viewpoint on this."

(This blog was written by the bloggers at ABC News. I have now altered it in any way and it is the property of ABC News. The link to the article is at the top of this blog.)

Qaddafi believes Barack Obama is a Muslim

Apparently there is somebody outside of the United States who believes Barack Obama is a Muslim and that person is Libya's dictator Mu'ammar Al-Qadhafi.

I am not saying I believe him, but you have to admit that this is interesting. This clip is from June 11, 2008.

Obama doesn't like black people, prefers "bridge to nowhere"

Remember when Hurricane Katrina destroyed much of New Orleans and everyone blamed President George W. Bush, FEMA and Louisiana Gov. Kathleen Blanco. There was a time when New Orleans' mayor Ray Nagin had some blame, but that all was swept away.

Remember when there was a televised Katrina relief effort where Kanye West said on air that "George Bush doesn't like black people"?

It turns out that the most merciful Barack Obama and his running-mate Joe Biden did not want to help those Katrina victims either.

Wondering what this was about? This bill was to amend the "Bridge to Nowhere" in Alaska. Instead of giving Alaska money, Sen. Tom Coburn proposed shifting earmark funds to Katrina relief. This, gave the senate a second chance to change their vote on this bridge, but it didn't change the minds of the "hope, change and yes, we can" team.

Here are some notables who thought a "bridge to nowhere" was more important than helping the victims in New Orleans:
Barack Obama (D-IL, 2008 Democratic Presidential Nominee), Dick Durbin (D-IL), John Kerry (D-MA, 2004 Dem. Nominee), Ted Kennedy (D-MA), Joe Biden (D-DE, 2008 VP Nominee).

Apparently, Sarah Palin was wrong by being for the "bridge to nowhere" before being against it. And, it was right to be like Obama and Biden to be for the "bridge to nowhere" and then on a second chance still being for the "bridge to nowhere". Yet, the Obama ad says differently. Watch this ad and realize how dumb Obama's campaign really is. Below the YouTube video are links in case you don't believe the facts about Obama's "bridge to nowhere" voting record.




Bridge to Nowhere Links
Chicago Observer: Obama and Biden voted for bridge to nowhere
Washington Post: H R 3058 Vote

Sarah Palin did the right thing. She is NOT Washington as usual.

CBS News Electoral Guessing Map

McCain's speech not great, but good enough

Sen. John McCain's Republican Party nomination speech did what he sought out to do.

He defined his slogan for his campaign "Country First" as he is a man who always puts his country first and himself second. He went on saying that this is not always the way Washington does things.

He talked about his military career from the Naval Academy in Annapolis to his time in the "Hanoi Hilton" prison camp for five years during the Vietnam War.

The only part or parts of the speech that were sad were when two hippies tried to get the attention off McCain. The crowd then chanted loudly, "U-S-A...U-S-A."

It was a long speech, but he told the nation his life story.

---------------------
Below is an article about the speech from the Associated Press:


McCain tells convention, nation he'll bring change

Sep 4, 11:23 PM (ET)

By DAVID ESPO and ROBERT FURLOW

ST. PAUL, Minn. (AP) - John McCain, a POW turned political rebel, vowed Thursday night to vanquish the "constant partisan rancor" that grips Washington as he launched his fall campaign for the White House. "Change is coming," he promised the roaring Republican National Convention and a prime-time television audience.

"Fight with me. Fight with me. Fight with me. Fight for what's right for our country," he said in a convention crescendo.
To repeated cheers from his delegates, McCain made only passing reference to an unpopular George W. Bush and criticized fellow Republicans as well as Democratic rival Barack Obama in reaching out to independents and swing voters who will pick the next president.

"We were elected to change Washington, and we let Washington change us," he said of the Republicans who controlled Congress for a dozen years before they were voted out of office in 2006.

As for Obama, he said, "I will keep taxes low and cut them where I can. My opponent will raise them. I will cut government spending. He will increase it."

McCain's wife, Cindy, and ticketmate Sarah Palin and her husband joined him on stage as tens of thousands red, white and blue balloons cascaded from high above the convention floor.

Unlike Obama's speech a week ago, McCain offered no soaring oratory until his speech-ending summons to fight for the country's future.

But his own measured style left his crowd cheering, and as is his habit in campaign stops around the country, he stepped off the stage to plunge into the crowd after his speech.

McCain's appearance was the climax of the final night of the party convention, coming after delegates made Palin the first female vice presidential nominee in Republican history.

(Pictures are courtesy of the Associated Press and the GOP)


OTHER NEWS
CBS News Poll has McCain and Obama TIED at 42-42

Obama-Biden try to ruin GOP Convention, Want Bush Tried

If Barack Obama is elected president, he may pursue charges against President George W. Bush and others within his administration. Good grief. Did President Gerald Ford put Richard Nixon in jail? No. He forgave him. What is with this possible act?

The article is below. It is from The Guardian.

Obama might pursue criminal charges against Bush

· Biden says criminal violations will be pursued
· Democrats have issued subpoenas to Bush aides
· 3 staffers have been held in contempt of Congress

Elana Schor in Washington
guardian.co.uk, Wednesday September 03 2008 19:32 BST
Article history

Democratic vice-presidential nominee Joe Biden said yesterday that he and running mate Barack Obama could pursue criminal charges against the Bush administration if they are elected in November.

Biden's comments, first reported by ABC news, attracted little notice on a day dominated by the drama surrounding his Republican counterpart, Alaska governor Sarah Palin.

But his statements represent the Democrats' strongest vow so far this year to investigate alleged misdeeds committed during the Bush years.

"If there has been a basis upon which you can pursue someone for a criminal violation, they will be pursued," Biden said during a campaign event in Deerfield Beach, Florida, according to ABC.

"[N]ot out of vengeance, not out of retribution," he added, "out of the need to preserve the notion that no one, no attorney general, no president -- no one is above the law."

Obama sounded a similar note in April, vowing that if elected, he would ask his attorney general to initiate a prompt review of Bush-era actions to distinguish between possible "genuine crimes" and "really bad policies".

"[I]f crimes have been committed, they should be investigated," Obama told the Philadelphia Daily News. "You're also right that I would not want my first term consumed by what was perceived on the part of Republicans as a partisan witch hunt, because I think we've got too many problems we've got to solve."

Congressional Democrats have issued a flurry of subpoenas this year to senior Bush administration aides as part of a broad inquiry into the authorisation of torturous interrogation tactics used at the Guantanamo Bay prison camp.

Three veterans of the Bush White House have been held in criminal contempt of Congress for refusing to respond to subpoenas: former counsel Harriet Miers, former political adviser Karl Rove, and current chief of staff Josh Bolten. The contempt battle is currently before a federal court.

Palin's Acceptance Speech Was A Grand Slam

It was as if the Obama Campaign was up by three runs in the bottom of the ninth inning, but the Obama team was up to bat in the top of the ninth. Then with Mitt Romney, Mike Huckabee and Rudy Giuliani on base and Sarah Palin up to bat, she waited for her speech. The speech came and she hit it out of the park and won the game with a walk-off grand slam.

Vice Presidential Nominee Sarah Palin focused on her time in Alaska as a member of the PTA, the city council, a mayor and governor. She talked about her experience as a "community organizer" in her city as mayor. She talked about her far from perfect family, a family much like an average American family. She talked about middle-class Americans are "bitterly clinging to religion and guns." She also talked about the unfair media and that she will not do as the media tells her to do. When she said this there were chants of "N-B-C, N-B-C" from around the XCel Energy Center arena. She also spoke of alternative energy and the energy we have today. McCain and Palin will drill for oil, and research and implement new types of energy as well as old types of energy such as nuclear.

She went straight for the Obama-Biden Campaign gut. She spared no expense and kept on fighting with her "hockey mom" mentality.

What a great speech! Her speech blew Obama's and Biden's combined out of the water! She looked like a professional. Wait, she is! She is more experienced than Obama and Biden and she proved that tonight!

IMPORTANT LINK
Gov. Palin's Speech Script from ABC News

(Palin photograph is from the Associated Press and RNC Convention logo is courtesy of the GOP)

Obama's DNC Convention Bounce?

(From Yahoo! News via Politico)

Obama's bounce smaller than others

David Paul Kuhn
Mon Sep 1, 10:38 PM ET

Barack Obama’s post-Democratic National Convention bounce in the polls appears to be slightly smaller than the norm of past conventions, and it's gradually depreciating.

The Gallup daily tracking poll has found that since the conclusion of the convention, Obama has risen 4 percentage points in the polls, to lead McCain 49 percent to 43 percent today. That's a slightly smaller uptick in the polls than the 5- to 6-point bounce earned by a typical party nominee, by Gallup’s measure, since 1964. Obama and McCain were evenly split at 45 percentage points apiece prior to the Democratic convention, according to Gallup.

That outcome comes despite Obama’s speech before more than 80,000 people at Invesco Field in Denver on Thursday night, a political event that was also seen by about 40 million television viewers. It also comes as the Republican convention quietly got under way in St. Paul, and the national media gaze focuses southward to Hurricane Gustav.

Daily tracking polls by Gallup and Rasmussen Reports demonstrate that Obama has taken his greatest lead since July, if not the general election. But while Obama’s support remains significantly stronger than weeks ago, it appears that the post-convention bounce he earned may have already peaked.

On Saturday, Gallup reported Obama was ahead by 8 percentage points. By Monday, that lead had shrunk to 5 points. Rasmussen pegs Obama’s standing as relatively stable in recent days, with a 49 percent to 46 percent lead over McCain when “leaners” are included, a small but statistically insignificant improvement for McCain of 1 percentage point since Saturday.

CBS News reported Monday that Obama is now ahead in its poll, 48 to 40 percent, a 3-point uptick in Obama’s standing compared to its poll prior to the Democratic convention. Obama’s 3-point bounce exceeds that of John F. Kerry, the Democratic presidential nominee in 2004 who did not rise in the polls following his convention. But Obama’s bounce is less than a third of what Al Gore received in 2000 and Bill Clinton received in 1992. Even Bob Dole, following the 1996 Republican convention, received a 4-point bounce in the polls, 1 point more than Obama.

But any Obama bounce, if it is sustained, could be said to be a victory for Democrats. In the days since Obama gave his address, the news cycles have been captured by the unveiling of Alaska Gov. Sarah Palin as John McCain's running mate, the opening of the Republican convention and the threat posed by Hurricane Gustav.

There have been only three previous back-to-back conventions, most recently in 1956. The effect of the GOP convention on the polls will not be known for days.

A CNN/Opinion Research Corp. poll and a Zogby Interactive flash poll, both completed over the weekend, have found the presidential race is in a dead heat. According to both polls, Obama attained no statistically significant convention bounce.

Whether Obama is ahead or tied with McCain, the presumptive Republican nominee will now come into the Republican convention with his best opportunity yet to break through his own ceiling and take a lead in the presidential race.

Obama-Biden attack Palin's looks, daughter

Gov. Sarah Palin (R-AK) and her daughter are being unfairly attacked by the "hope and change team."

Joe Biden said about Palin, "She's good looking."

Biden and Obama don't see anything more than her good looks and say that she is not experienced.

And, now that her 17-year-old daughter, Bristol, is pregnant, this is now that talk. The Obama-Biden "hope and change team" are now saying that she may not even want this baby. How nice. It would be that team that would go for the baby killing route.

And now CNN's Campbell Brown says that Palin should not have taken the VP offer to protect her family.

----------------------
Below is a Reuter's story about Palin's daughter:

Palin rebuts rumors, says daughter pregnant

By Steve Holland

ST. PAUL (Reuters) - The 17-year-old unmarried daughter of Republican vice presidential candidate Sarah Palin is pregnant, Palin said on Monday in an announcement intended to knock down rumors by liberal bloggers that Palin faked her own pregnancy to cover up for her child.

Bristol Palin, one of Alaska Gov. Palin's five children with her husband Todd, is about five months pregnant and is going to keep the child and marry the father, according to aides of Republican presidential candidate John McCain.

Bristol Palin made the decision on her own to keep the baby, the aides said.

The Palins, in a statement released by the McCain campaign, said Bristol "came to us with news that we as parents knew would make her grow up faster than we had ever planned" and that their daughter "has our unconditional love and support."

"We ask the media to respect our daughter and Levi's privacy as has always been the tradition of children of candidates," their statement said.

Senior McCain campaign officials said McCain knew of the daughter's pregnancy when he selected Palin last week as his vice presidential running mate, deciding that it did not disqualify the 44-year-old governor in any way.

McCain officials said the news of the daughter's pregnancy was being released to rebut what one aide called "mud-slinging and lies" that have circulated on liberal blog sites.

According to these rumors, Sarah Palin had faked a pregnancy and pretended to have given birth in April to her fifth child, a son named Trig who has Down syndrome. The rumor was that Trig was actually Bristol Palin's child and that Sarah Palin was the grandmother.

PRO-LIFE GROUPS OFFER SUPPORT

Palin is staunchly anti-abortion, and pro-life groups welcomed the decision to keep the child.

James Dobson, an influential Christian evangelical conservative, said his Focus on the Family group had always counseled young mothers to see their pregnancies through, "even though there will be of course challenges along the way."

"That is what the Palins are doing, and they should be commended once again for not just talking about their pro-life and pro-family values, but living them out even in the midst of trying circumstances," he said in a statement.

Charmaine Yoest, head of Americans United for Life, said, "We join them in welcoming this new life."

The McCain campaign was outraged by the blog rumors.

"There's no doubt that liberal blogs such as one called www.barackoblogger.com and some in the mainstream media were pushing a false story about Gov. Palin's most recent pregnancy with fervor," said senior McCain adviser Nicolle Wallace.

A senior McCain official said its camp had no evidence that the campaign of Democrat Barack Obama was pushing the story, but said the blog rumors circulating on websites that appeared to support Obama had the effect of being "a real anchor around the Democratic ticket."

OBAMA OFFENDED

Speaking to reporters in Monroe, Michigan, Obama said he was offended by the McCain aide's statement and that he considered people's families off-limits.

"We don't go after people's families. We don't get them involved in the politics. It's not appropriate and it's not relevant. Our people were not involved in any way in this and they will not be. And if I ever thought there was somebody in my campaign that was involved in something like that, they'd be fired," Obama said.

Obama also said: "This shouldn't be part of our politics. It has no relevance to Gov. Palin's performance as a governor or potential performance as a vice president. So I would strongly urge people to back off these kinds of stories."

The news broke as Republicans gathered in St. Paul for their convention to formally nominate McCain and Palin as the party's candidates. Palin is only the second woman picked as a U.S. vice presidential nominee.

In the short period since she was announced last Friday, Palin has helped to energize the Republican Party's conservative base, giving McCain fresh energy going into the campaign for the November 4 election against Obama and his No. 2 Sen. Joe Biden of Delaware.

(Additional reporting by Caren Bohan and Ed Stoddard)

(Editing by Howard Goller and Jackie Frank)

Diddy: "Get out and vote" as long as it is for Obama

From the man who brought us "Vote or Die" he has a new video out on YouTube. P. Diddy doesn't care who you vote for as long as it is Barack Obama.


Here Diddy tells us that this is the most important election in history and the young Americans have to vote.


Here Diddy complains that McCain picked Palin because she is from Alaska.

Jimmy Carter attacks McCain's POW time

Jimmy Carter is a nice guy and will always be, but where does he get off attacking McCain's time in Vietnam. Think back and remember Carter's administration. Where does he get off saying this?! Carter was one of our worst presidents in history, not because he was mean, he was a nice guy, it was because he lacked total foreign experience. He didn't know of anything that happened outside of Georgia.

While I am talking about Jimmy Carter, the Democrats are now praising him, even though he had a lousy presidency. It was a good thing that Ronald Reagan came to pick up the pieces. Now regarding experience, which is the talk these days. Gov. Sarah Palin of Alaska has had more experience than Jimmy Carter prior to his presidency. Obama keeps talking about Palin's time as mayor in a small town, yet he doesn't talk about Carter's time as mayor in a smaller town in Georgia. Come on!

Jimmy Carter and Barack Obama are one of the same. Both out of touch. Below is the USA Today article about Carter attacking McCain. (Link to article)

------------------------------
Carter: McCain 'milking' POW time

By Alan Gomez, USA TODAY

DENVER — Former president Jimmy Carter called Republican presidential candidate John McCain a "distinguished naval officer," but he said the Arizona senator has been "milking every possible drop of advantage" from his time served as a prisoner of war in Vietnam.

Carter spoke Thursday with USA TODAY and Gannett News Service reporters before Barack Obama's acceptance speech to cap off the Democratic National Convention. Carter spoke of Obama's challenges facing the lingering effects of racism in the United States and the ability of the Clintons to bring their supporters over to Obama. He decried Connecticut Sen. Joe Lieberman's decision to "abandon" the Democrats by speaking at the Republican convention next week.

Carter, however, focused heavily on McCain. He said he was bewildered by McCain's performance at the Saddleback Presidential Forum hosted by pastor and author Rick Warren in Lake Forest, Calif., earlier this month.

Carter said that whether he was asked about religion, domestic or foreign affairs, every answer came back to McCain's 5½ years as a POW.

"John McCain was able to weave in his experience in a Vietnam prison camp, no matter what the question was," Carter said. "It's much better than talking about how he's changed his total character between being a senator, a kind of a maverick … and his acquiescence in the last few months with every kind of lobbyist pressure that the right-wing Republicans have presented."

Carter said Lieberman, Al Gore's running mate in 2000 and now an independent, had cast his lot with the GOP by deciding to speak at the party's convention.

Lieberman switched his party registration after losing the 2006 Democratic senatorial primary to Ned Lamont, who made opposition to the Iraq war central to his campaign. Lieberman kept his seat and has helped Democrats maintain a 51-49 voting edge.

"I would hope that the Democrats could have enough senators elected in November so that we would not any longer need to include Joe Lieberman among the senators," Carter said.

Carter called Hillary Rodham Clinton's speech at the convention Tuesday "superb" but questioned her for pointing out her accomplishments in some areas and merely saying that Obama shared those concerns.

Carter said former president Bill Clinton's speech Wednesday was "perfect." Carter said the two speeches took pressure off Obama by uniting the party and ensuring that Clinton supporters would support Obama.

Carter cited a USA TODAY/Gallup Poll last week that found 47% of Clinton supporters said they were solidly behind Obama and 30% said they would vote for McCain, someone else or no one at all. "I think that this week has eliminated that disparity," he said.

Carter also spoke of the segregation he saw growing up and said racism is "always a subtle factor" in American politics. He called this November's election possibly the most "momentous, important" U.S. election in the past 100 years, and he was confident that Obama could overcome the racial divide.

But he said race could ultimately be the deciding factor.

USA Today video of Carter interview

Obama: what an idiot! Answer the Question!

Barack Obama was on Anderson Cooper 360 last night. He did well when answering questions about Hurricane Gustav and the past Hurricane Katrina. But what bothers me is towards the end of the interview with Cooper. Anderson asks Obama about experience in the upcoming presidential election. Listen to this, what an idiot and jerk. Why wont Obama answer the question?! Is he scared? Why does he dance around it?!



(Video courtesy of YouTube and CNN)