6.4.09

Ineligible Bachelors: Indian Men Living in U.S. Strike Out




April 6 (WSJ) 

Brides and Parents Back Home Get Picky as Economy Makes America Look Risky


Vikas Marwaha would normally be considered a good catch by Indian parents seeking a husband for their daughter. The 27-year-old software engineer earns $80,000 to $100,000 a year and comes from a family "of doctors and engineers," according to his profile on a matrimonial Web site.

But Mr. Marwaha works for a start-up Internet phone company in San Francisco. And because the U.S. economy is wobbly, that's a problem. Many Indian parents now are balking at sending their daughters to the U.S. to marry.

During a two-week wife-hunting trip to India in December, Mr. Marwaha interviewed 20 potential brides in 10 days. He says several parents asked him, "How has the recession impacted your job?" Mr. Marwaha says he assured them he hadn't been affected at all, but still he returned to the U.S. brideless.

A Match Made in India

See matrimonial ads for Indians seeking a bride or groom.

Indian parents used to think it a plus to marry off their daughters to Indian men living in wealthier countries, including the U.S. and Britain. But as India has grown more affluent in recent years, the demand for overseas Indian grooms has been fading. While India's economy is also slowing down, it is still growing, and layoffs aren't as widespread as in the West.

"Even if something happens, in India there's a comfort" that the woman's parents are around to help, says Murugavel Janakiraman, founder of the matrimonial Web site Bharatmatrimony.com. Favorable responses to overseas grooms registered on his site have declined by 20% in the past nine months, he says.

Rahul Tamrakar, 32, a full-time consultant for International Business Machines Corp. in Chicago, has been looking for a bride back home in India. But he says prospective in-laws were worried that "consultant" was a euphemism for "unemployed." One parent asked to see his tax returns. He refused, and the talks fell through. Now, "I'm trying to meet up [with] girls who are in the U.S. already," he says.

Some brides simply see India as more livable these days. As salaries have gone up there, Indian married couples are able to afford houses, and young women with jobs have money of their own. In contrast, in the U.S., "people have to even clean their own toilets," says Hasit Dave, 55, who runs the Klassic Match Marriage Bureau in Ahmedabad, a city in the western Indian state of Gujarat.

To be sure, some Indian brides, particularly those from modest backgrounds, still welcome foreign bridegrooms. But it's become a harder sale for women who see better prospects for themselves in India.

Anisha Seth, 26, has been looking for a groom for two years now. But she feels "jittery" about considering nonresident Indians as possible options.

Ms. Seth grew up in Lucknow, a medium-size town southeast of Delhi, but now works as a financial executive in Mumbai and lives alone in an apartment. Ms. Seth is part of a wave of Indian women who have, in recent years, started working and living away from their parents before marriage.

Ms. Seth says that if she were to move to the U.S. or to another developed country, she might not get a job quickly and would have to be dependent on her husband for a while. While she's open to the idea of giving up her independence, she worries that given the state of the U.S. economy, a groom based in America might not be earning enough to support her. For instance, Ms. Seth says she likes nice clothes and would like to have a flat-screen TV. "Is he really prepared to provide the kind of lifestyle that I have right now?" She expects a husband to earn more than she does.

[Sandeep Gohad]

SANDEEP GOHAD

Career-oriented Indian women, meanwhile, have grown concerned about their job prospects in the U.S. Sandeep Gohad, a Manchester, Conn., software consultant who's between jobs, got such questions during a two-month-long visit to his hometown of Pune, near Mumbai. He told bride candidates they would have a hard time getting a work visa in the U.S. And even if they did, finding jobs would be tough. He, too, came home single. An engineer or doctor "has absolutely no reason to go to the U.S.A. and work as a housewife," he says.

Even today, many Indian marriages are orchestrated by parents who plan everything from finding the spouse to the wedding ceremony. They often start by signing up with a marriage bureau or placing classified ads in Indian newspapers.

A recent ad listed under the heading Nonresident Indians read: Brahmin boy, very handsome, 27 years old and 178 centimeters tall (5 feet 10 inches), who has done his MBA and a bachelor's in computer science, working in New York, on an H-1B work visa, seeks a professionally qualified, very beautiful, tall girl.

Based on responses to the matrimonial ads and matches from marriage bureaus, parents of would-be grooms living in America -- sometimes in consultation with their sons -- short list the women. The prospective groom then visits India for one to three weeks, and if he chooses a woman -- and she agrees -- the marriage is set. He then returns to India after a few months for the wedding.

Until recently, overseas candidates would quickly elicit 10 to 15 responses from young women, says Smita Seth, 55, owner of Manpasand Marriage Bureau in Ahmedabad. But in the past few months, she has had to coax parents to even consider overseas grooms; they prefer men from their own towns instead.

Mr. Marwaha, the San Francisco software engineer, learned that the hard way. All meetings with potential brides were in the presence of the women's parents. The typical meeting started with the parents briefly interviewing Mr. Marwaha, primarily about his finances. Among the 20 or so women he met, the parents of half of them were reluctant to send their daughter to the U.S., either because they were worried Mr. Marwaha would lose his job or because they felt they couldn't verify his credentials. The other women just "didn't click" with him, he says.

Given the difficulty in finding matches for Indians abroad, some matchmakers are now charging them more. Mr. Dave of Klassic Match charges a minimum fee of $100, versus $50 for candidates living in India. He charges more for specific requirements. For instance, he says some overseas Indians want a bride who is smart, fluent in English, and "simultaneously, docile in the house." He says such women are now harder to find, so he bumps up his fees for some searches.

Some overseas Indians are throwing in the towel. Software engineer Abhishek Khaitan, 30, moved back to India in January after living in the U.S. since 2004. Mr. Khaitan, who is divorced, had been looking for a wife since the summer of 2008, to no avail. Mr. Khaitan has found a job in the south Indian city of Hyderabad and has been in touch with potential brides. "Things are working out, being here," he says.

Write to Shefali Anand at shefali.anand@wsj.com

US Recovery Is Far Off, Banks Are 'Basically Insolvent': Soros

US Recovery Is Far Off, Banks Are 'Basically Insolvent': Soros

By: Reuters | 06 Apr 2009 | 02:57 PM ET 

The U.S. economy is in for a "lasting slowdown" and could face a Japan-style period of relatively low growth coupled with high inflation, billionaire investor George Soros said on Monday.

Soros, speaking to Reuters Financial Television, also warned that rescuing U.S. banks could turn them into "zombies" that draw the lifeblood of the economy, prolonging the economic slowdown.

"I don't expect the U.S. economy to recover in the third or fourth quarter so I think we are in for a pretty lasting slowdown," Soros said, adding that in 2010 there might be "something" in terms of U.S. growth.

Soros' view contrasts with the majority of economists, who expect the U.S. economy to stop contracting in the third quarter and resume growing in the fourth quarter, according to the latest monthly poll of forecasts conducted by Reuters.

The recovery will look like "an inverted square root sign," Soros said. "You hit bottom and you automatically rebound some, but then you don't come out of it in a V-shape recovery or anything like that. You settle down—step down."

The healing of the banking system and housing markets is crucial to recovery. "The banking system, as a whole, is basically insolvent," Soros said.

What's more, the Treasury's Public-Private Investment Fund is going to work but it won't be enough to recapitalize the banks in a way that they are able to or willing to provide credit.

"What we have created now is a situation where the banks who will be able to earn their way out of a hole, but by doing that, they are going to weigh on the economy," he said. "Instead of stimulating the economy, they will draw the lifeblood, so to speak, of profits away from the real economy in order to keep themselves alive. This is the zombie bank situation."

The stress tests being conducted by Treasury could be a precursor to a more successful recapitalization of the banks, he added.

Soros, whose latest book, "The Crash of 2008 and What it Means," has made prescient calls during the current credit crisis.

Exactly one year ago, he told Reuters that global losses are likely to top $1 trillion from the credit crisis. To date, U.S. and European banks have recorded more than $700 billion in losses and write-downs, as of Feb. 5. 2009, according to Reuters data.

Soros also said the U.S. dollar is under selling pressure and may eventually be replaced as a world reserve currency, possibly by the IMF's Special Drawing Rights, a synthetic currency basket comprised of dollars, euros, yen and sterling.

"I think the dollar is now under question and I think the system will need to be reformed, so that the United States will be subject to the same discipline as is imposed on other countries," said Soros, whose famous bet against the British pound earned his Quantum Fund $1 billion in 1992. "Being the main issuer of international currency, we have been exempt and we have abused that because we have effectively consumed 6.5 percent more than we have produced. That is now coming to an end."

China recently proposed greater use of Special Drawing Rights, possibly as an eventual global reserve currency. "In the long run, having an international accounting unit rather than the dollar may, in fact, be to our advantage so we can't splurge—you know, it felt very good for 25 years but now we are paying a very heavy price," Soros said.

China will be the first country to emerge from recession, probably this year, and will spearhead global growth in 2010, Soros said. He said world policymakers are "actually beginning to catch up" with the crisis and efforts to fix structural problems in the financial system.

The system was "fundamentally flawed, and there is no returning to where we came from," he said.

Euro Zone Not in Danger

In Europe, he said the crisis provides an incentive for countries that use the euro to remain inside the monetary union, though countries on the periphery still face serious problems.

The euro has been "a tremendous advantage" to countries that use it, adding there's "no question of a weaker country dropping out," Soros said.

While additional resources for the International Monetary Fund will help it stabilize struggling Eastern Europe, he said the Baltic states still face "serious problems" and Ukraine is not far from default.

Widespread use of credit default swaps has worsened the risks for Europe, he said, though he added that Germany, the euro zone's biggest economy, is becoming more open to offering help. "Germany, which has been the most reserved about being the deep pocket of the rest of Europe, has recognized that it too has a responsibility toward the new member states."

Germany has been one of the most reluctant major economies to meet U.S. calls for more fiscal stimulus spending to boost the global economy and fight the financial crisis.

Copyright 2009 Reuters. Click for restrictions.

4.4.09

Mass shootings in US since 1999

Printed from





Mass shootings in US since 1999

4 Apr 2009, 0139 hrs IST, AFP


NEW YORK: A gunman went on a rampage in a civic center providing help to immigrants in Binghamton, New York, Friday, killing up to 13 people, in the second random mass shooting in the US in less than a week.

There follows a list of some the worst mass shootings in the United States since the Columbine school massacre in 1999:

-- Littleton, Colorado, April 1999. Two teenage boys shoot and kill 12 students and a teacher at Columbine High School before killing themselves.

-- Atlanta, Georgia, July 1999. A stockmarket day trader goes on a day-long shooting rampage, killing 12 people including his wife and two children before taking his own life.

-- Fort Worth, Texas, September 1999. A gunman opens fire at a prayer service, killing six people before committing suicide.

-- Washington, October 2002. A series of sniper-style shootings, some carried out from the boot of a car, claims 10 lives, mostly in the Washington area. Many of the attacks were carried out with a semi-automatic assault rifle.

-- Chicago, August 2003. A worker who was laid off shoots and kills six of his former co-workers with a semi-automatic pistol. The shooter had a lengthy arrest record, including for weapons offenses.

-- Birchwood, Wisconsin, November 2004. A hunter opens fire with an SKS assault rifle, killing six other hunters and wounding two after an argument.

-- Brookfield, Wisconsin, March 2005. A man fires 22 rounds during a church service, killing seven people.

-- Nickel Mines, Pennsylvania, October 2006. A truck driver armed with two rifles, a semi-automatic handgun and 600 rounds of ammunition kills five schoolgirls execution-style in an Amish schoolhouse, and seriously wounds six others before shooting himself.

-- Blacksburg, Virginia, April 2007. A student shoots 47 people at Virginia Tech, killing 32 before he commits suicide, in the deadliest mass shooting in the United States.

-- Omaha, Nebraska, December 2007. Nine people are killed and five others injured after a 20-year-old shooter armed with a military-style assault rifle attacks shoppers in a mall.

-- Carnation, Washington. December 2007. A woman and her boyfriend shoot dead six members of her family, including two children, ages three and six, on Christmas Eve, using large-caliber pistols.

-- Chicago. February 2008. Six women are tied-up and shot at a suburban clothing store. Five of the women die. The gunman has not been found.

-- DeKalb, Illinois. February 2008. A man opens fire in a lecture hall at Northern Illinois University, killing five students and wounding 16 before turning his weapon on himself.

-- Alger, Washington. September 2008. A mentally ill man who had been released from jail a month earlier shoots eight people, killing six.

-- Covina, California. December 2008. A man dressed in a Santa Claus suit opens fire at a family Christmas party at his ex-wife's home and then sets fire to the house. Nine people are killed in the home. The gunman later kills himself.

-- Geneva County and Coffee County, Alabama. March 12 2009. In a shooting spree that tears through several towns, a 28-year-old out-of-work man kills 10 people, including his mother and a toddler.

-- North Carolina. March 29, 2009. A heavily-armed gunman shoots dead eight people, many elderly and sick patients, in a North Carolina nursing home.

-- Santa Clara, California, March 30, 2009. Six people are shot dead in an apparent murder-suicide at a home in an upscale Silicon Valley neighborhood.

-- Binghamton, New York. April 3, 2009. Up to 13 people are killed as a gunman goes on a rampage at a civic center in the town of Binghamton.








3.4.09

No wonder I have to work so hard!!!

One in 10 Americans gets help to buy food
Fri Apr 3, 2009 1:41am BST


WASHINGTON (Reuters) - A record 32.2 million people -- one in every 10 Americans -- received food stamps at the latest count, the government said on Thursday, a reflection of the recession now in its 16th month.


Food stamps, the major U.S. anti-hunger program, help poor people buy groceries. The average benefit was $112.82 per person in January.


The January figure marks the third time in five months that enrollment set a record.
"A weakened economy means that many more individuals are turning to SNAP/Food Stamps," said the Food Research and Action Center, an anti-hunger group, using the acronym for the renamed food stamp program, the Supplemental Nutrition Assistance Program.


The U.S. unemployment rate was 8.1 percent in February, the highest in 25 years. New claims for jobless benefits totaled 669,000 last week, the highest in 26 years, the government said on Thursday.


Food stamp enrollment rose in 46 of the 50 states during January as the national total rose by 580,000 people, or 1.3 percent, from December, when the previous record was set, said Agriculture Department figures.


Vermont, Alaska and South Dakota had increases of more than 5 percent. Texas had the largest enrollment, 2.984 million, down 65,000, followed by California at 2.545 million, up 43,000, and New York with 2.211 million, up 37,000.


"It is a very difficult time for low-income families and individuals and also a difficult time for the groups that serve them," said Valentine Breitbarth of Bread for the City, a group that works with poor families in Washington.


Food stamp benefits get a temporary 13 percent increase, beginning with this month, under the economic stimulus law signed by President Barack Obama. The increase equals $80 a month for a household of four.


Recent food stamp data
Month Enrollment
September 2008 31.587 million
October 2008 31.050 million
November 2008 31.097 million
December 2008 31.784 million
January 2009 32.205 million


(Reporting by Charles Abbott and Russ Blinch; editing by Jim Marshall)
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2.4.09

Tax $ at Work!!!

Report: 9 People Visited ER 2,678 Times in 6 Years
Wednesday, April 01, 2009
AUSTIN, Texas —
Just nine people accounted for nearly 2,700 of the emergency room visits in the Austin area during the past six years at a cost of $3 million to taxpayers and others, according to a report.


The patients went to hospital emergency rooms 2,678 times from 2003 through 2008, said the report from the nonprofit Integrated Care Collaboration, a group of health care providers who care for low-income and uninsured patients.


"What we're really trying to do is find out who's using our emergency rooms ... and find solutions," said Ann Kitchen, executive director of the group, which presented the report last week to the Travis County Healthcare District board.


The average emergency room visit costs $1,000. Hospitals and taxpayers paid the bill through government programs such as Medicare and Medicaid, Kitchen said.


Eight of the nine patients have drug abuse problems, seven were diagnosed with mental health issues and three were homeless. Five are women whose average age is 40, and four are men whose average age is 50, the report said, the Austin American-Statesman reported Wednesday.


"It's a pretty significant issue," said Dr. Christopher Ziebell, chief of the emergency department at University Medical Center at Brackenridge, which has the busiest ERs in the area.


Solutions include referring some frequent users to mental health programs or primary care doctors for future care, Ziebell said.


"They have a variety of complaints," he said. With mental illness, "a lot of anxiety manifests as chest pain."

SOURCE: AP

1.4.09

Expect 8.6% Unemployment 4.3.09

U.S. private sector axes 742,000 jobs in March

Wed Apr 1, 2009 9:29am EDT
 

NEW YORK (Reuters) - Job losses in the U.S. private sector accelerated in March, more than economists' expectations, according to a report by ADP Employer Services on Wednesday.

Private employers cut jobs by a record 742,000 in March versus a 706,000 revised cut in February that was originally reported at 697,000 jobs, said ADP, which has been carrying out the survey since 2001.

The big drop foreshadows a huge decline in the non-farm payroll reading in the government's employment report that will be released on Friday, some analysts said.

"It's a terrible number. It is almost a loss of three quarters of a million jobs which is possibly the highest we have seen so far over the length of this crisis," said Matt Esteve, foreign exchange trader with Tempus Consulting in Washington.

U.S. stock futures and the dollar fell after news of the bigger-than-expected job losses, while U.S. Treasury bonds regained some of their lost ground.

Economists had expected 655,000 private-sector job cuts in March in the ADP report, according to a recent Reuters poll.

(Reporting by Richard Leong and Nick Olivari, Editing by Chizu Nomiyama)

31.3.09

Lower costs lure U.S. patients abroad for treatment

By Danielle Dellorto CNN Medical Producer

NEW DELHI, India (CNN) -- "I was a walking time bomb. I knew I had to get on that plane if I wanted to be around to see my grandkids."

Sandra Giustina is rolled into surgery to correct her atrial fibrillation at Max Hospital in New Dehli, India.

Sandra Giustina is a 61-year-old uninsured American. For three years she saved her money in hopes of affording heart surgery to correct her atrial fibrillation. "They [U.S. hospitals] told me it would be about $175,000, and there was just no way could I come up with that," Giustina said.
So, with a little digging online, she found several high quality hospitals vying for her business, at a fraction of the U.S. cost. Within a month, she was on a plane from her home in Las Vegas, Nevada, to New Delhi, India. Surgeons at Max Hospital fixed her heart for "under $10,000 total, including travel."

Giustina is just one of millions around the world journeying outside their native land for medical treatment, a phenomenon known as "medical tourism." Experts say the trend in global health care has just begun.

Next year alone, an estimated 6 million Americans will travel abroad for surgery, according to a 2008 Deloitte study.

"Medical care in countries such as India, Thailand and Singapore can cost as little as 10 percent of the cost of comparable care in the United States," the report found.

Companies such as Los Angeles-based Planet Hospital are creating a niche in the service industry as medical travel planners. One guidebook says that more than 200 have sprung up in the last few years. "We find the best possible surgeons and deliver their service to patients safely, affordably and immediately," said Rudy Rupak, president of Planet Hospital. "No one should have to choose between an operation to save their life or going bankrupt."

Planet Hospital, which works with international clients as well as Americans, books patients' travel and arranges phone interviews with potential surgeons. Patients are greeted by a company representative at the airport in the country where they've chosen to be treated; a 24-hour personal "patient concierge" is also provided, a level of service that's standard among many of the top medical travel planning companies.

"Our patient concierge was amazing," said Giustina. "He came to the hospital every day, gave us his personal [telephone] number and after my operation, he arranged private tours of India." Just two days post-op, Giustina and her husband, Dino, toured local markets and landmarks including the Presidential Palace and the Taj Mahal.

"I was able to fix my heart and tour India, which is something I thought I'd never do."
Walk through a patient wing at Max Hospital in New Delhi on any given day and you're likely to see people from around the world. In one visit, CNN met patients from the United Kingdom, Nigeria, Jordan, Afghanistan and the United States. They're alike in choosing surgery abroad, but their reasons differ.

Many South Asians and Africans said they travel abroad because they do not have access to care in their homeland.

Some Canadians and Europeans said they chose to travel aboard, despite having national health plans, because they are tired of waiting -- sometimes years -- for treatment.

Patients from the Middle East said they come to India because the technology as well as the staff is more advanced.

For most Americans CNN spoke to, it came down to finding the best value. "If I could have afforded my procedure in the United States, I would have taken it, but that was not my option," Giustina said. "I had to get online and look for a Plan B."

The private hospitals in India market themselves as having upscale accommodations, Western-trained surgeons and state-of-the-art medical equipment.

CNN spent time at Max Healthcare in New Delhi and saw operating rooms similar to those in many U.S. hospitals. If fact, Max's neurosurgery room had an inter-operative MRI scanner, which is technology hardly seen at hospitals in the United States.

The lobby had marble floors, a book café, coffee station and a Subway sandwich shop. The patient suites were equipped with flat screen TVs, DVD players and Wi-Fi. This hospital also catered to families traveling together. The suites had adjoining rooms with a kitchenette, coffee maker and a sofa bed.

Max neurosurgeon Dr. Ajaya Jha said the hospital can provide high-quality care at low prices because the staff work hard to cut waste.

"I've seen hospitals in the U.S. where they open up something costing $10,000 and say, 'Oh it's not working. OK, give me another one.' We would never do that here. Even for 100 rupees (about $2) -- we would say, "Do we need to open this suture? Do we need to open this gauze?' We are very conscious of cost."

Hospital officials negotiate hard to keep costs low for high-tech medical machinery and other supplies, Jha said. "In the U.S. people are making careers out of carrying laptops and documenting things that are not really useful in the long term for the patient."

The salary of a U.S. surgeon is five times that of a surgeon in India. "We [surgeons in India] want to make a profit, but we don't want to profiteer. We don't want squeeze people and I think American industries should also think that way," Jha said.

Critics of medical tourism warn patients to be diligent when researching treatment aboard. "I've found that industry voices tend to crowd out those of us who are more cautious about the legal risks," said Nathan Cortez, assistant law professor at Southern Methodist University, who is conducting a case study investigating what legal recourse patients have outside America.

Patients don't think about their legal vulnerabilities, Cortez said. "Some countries limit patient access to medical records so they can't really learn what happened during the surgery. And a lot of practitioners in other countries just refuse to give you your medical records. So people have to weigh the risk versus benefits."

While most tourism patients from America are uninsured, major U.S. insurance companies are considering providing "medical tourism" coverage to their customers. Several have already launched pilot programs.

"I think what's really important about medical tourism is that you make the choice for what's right for you and what's important to them," said a spokesman for U.S. health insurer WellPoint Inc.

Experts say that every patient considering traveling abroad for surgery should inquire about postoperative care, legal rights and the safety standards and certifications of the hospital. Foreign health care providers should be willing to discuss the procedure and answer question ahead of time.

"What really helped me feel good about the process was that my doctor in the U.S. spoke to the cardiologist in India prior to my trip," said Giustina. "They were so open about everything; I knew I'd be in good hands."

Just weeks from returning from abroad, Giustina says she has only one regret, "I shouldn't have waited so long! I feel like a new person again, no more pain."

Ann Coulter - The Cry Baby

GORDON GEKKO IS A DEMOCRAT
March 25, 2009

How did Republicans get saddled with Wall Street? Obama just got the biggest campaign haul from Wall Street in world history, and Republicans still can't shake the public perception that they are tied at the hip to Wall Street bankers who hate them.

It's as if National Rifle Association members conspired with Republicans to bankrupt the country and everyone blamed the Democrats for being shills of the NRA. Maybe if the financial capital of the nation were located in Salt Lake City, rather than Manhattan, the financial community would support Republicans. But Wall Street is a street located in New York City. No one in the top echelons of the financial industry who has a weekend place in the Hamptons is a Republican. No, there is one. Teddy Forstmann. He has to throw his own parties and fly guests in. Otherwise, if they want to go to any half-decent parties, bankers must be Democrats. At their income bracket, multimillionaires will trade a little extra tax money for good cocktail parties.

Even the "Republicans" on Wall Street don't care about national defense or social issues. They just want to trade with China and hire illegal aliens.

Last September, The New York Times reported that individuals associated with the securities and investment industry had given $9.9 million to the Obama campaign, $7.4 million to the Hillary Clinton campaign and only $6.9 million to the McCain campaign. Either they're all Democrats or some commodity named "hope" was going through the roof last year.

Employees of Lehman Bros. alone gave Obama $370,000, compared to about $117,000 to McCain. (No wonder Bush let them go under.)

According to an analysis of Federal Election Commission records by the Center for Responsive Politics, the top three corporate employers of donors to Barack Obama, Joe Biden and Rahm Emanuel were Goldman Sachs, Citigroup and JPMorgan.

Six other financial giants were in the top 30 donors to the White House Dream Team: UBS AG, Lehman Bros., Morgan Stanley, Bank of America, Merrill Lynch and Credit Suisse Group. Since 1998, the financial sector has given a total of $37.6 million to Obama, compared to $32.1 million to McCain. But Obama ran for his first national office only in 2004. So McCain got less from the financial industry in a decade that included two runs for president than Obama did in four years. As we've seen in recent weeks, Wall Street gets what it pays for.

Democratic Sen. Chris Dodd included language in the stimulus bill allowing executives of the bailed-out banks to collect million-dollar bonuses. And yet the Democrats' endless favors for their Wall Street friends never sticks to them because everyone treats Democrats' shilling for their own contributors as if it's a Nixon-goes-to-China moment. On the March 23 edition of MSNBC's "Hardball," The Nation's David Corn said: "Remember -- What was it? A year or two back when there was talk about taxing hedge fund managers at the rate that the rest of us pay? Who intervened in that? Chuck Schumer." But Corn then quickly added that this "got a lot of Democrats really mad. Here was a Democrat, you know, getting in the way of a populist issue at a time when the economy was already heading in the wrong direction." Which Democrats got "really mad"? Chris Dodd? George Soros? Warren Buffett? Jon Corzine? Tim Geithner? Roger Altman? Bob Rubin? Jamie Dimon? Lloyd Blankfein? Corn's formulation was wonderfully subtle: Admit that a Democrat preserved a sweetheart deal for hedge fund managers -- but then claim that his fellow Democrats were furious with him. People are more likely to believe something if they think they came to it themselves. Hearing a liberal muse on TV that it was an aberration for Chuck Schumer to intervene to protect hedge fund managers -- risking the wrath of other Democrats -- the average person thinks: So Democrats must be the party of the people.

I always thought George Soros was a Democrat, but he must be a Republican. Democrats take care of the financial industry -- and the financial industry takes care of Democrats. After honing his financial skills as the bagman for Bill Clinton's White House, Rahm Emanuel was hired by the investment bank Wasserstein Perella, where he worked for 2 1/2 years. For that, Emanuel was paid more than $18 million. (Maybe Rahm Emanuel was the Democrat livid at Schumer for preserving a sweet tax deal for hedge fund managers!)

Democrats have a beautiful system: They're showered with Wall Street money, but they also get to pillory Republicans for being the party of "Wall Street." The bankers don't care if Democrats attack them. They still get their bailout money.

SOURCE: http://www.anncoulter.com/

COPYRIGHT 2009 ANN COULTER DISTRIBUTED BY UNIVERSAL PRESS SYNDICATE 1130 Walnut, Kansas City, MO 64106

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