In a Time of Universal Deceit, Telling the Truth is Revolutionary.
Saturday, January 28, 2023

The return of reader blogs

Effective immediately, registered readers of Capitol Hill Blue will have the ability to post and maintain personal blogs.

I suspended blogs in June because of technical problems and a lack of time on my part to deal with problems the blogs created: both techical and conceptual.

With new software in place, I feel we can restore reader blogs and the feedback and discussion they generate.

As in the past, I ask each reader to concentrate on politics and issues involving our government and elected officials. And to please remember these guidelines:

Read More »

Consumer morale goes into the dumpster

American consumer gloom deepened in early August as worry about scarce jobs and falling income overshadowed positive news that industrial output in July grew for the first time in nine months.

The latest data on Friday pointed to a sluggish recovery at best with little or no help to come from embattled consumers.

Read More »

How a ragtag concert became a money machine

Back in 1969, Woodstock organizers billed their three-day festival as "An Aquarian Exposition." But although the concert became free when an expected crowd of 200,000 grew "half a million strong," it was conceived as a business proposition.

And the business has endured. Woodstock Ventures, the firm that oversees the licensing and intellectual property related to the Woodstock festival, is still run by the original producers of the event. And for several decades now, that once ragtag group of hippies has evolved into — if they weren’t already — good businessmen with savvy instincts.

Read More »

Car bomb kills 7, wounds 91 in Kabul

A suicide car bomb exploded Saturday outside the main gate of NATO’s headquarters five days before Afghanistan’s presidential election, killing seven and wounding 91 in the biggest attack in the Afghan capital in six months.

The bomber evaded several rings of Afghan police and detonated his explosives on the doorstep of the international military headquarters, an assault possibly aimed at sending the message that the Taliban can attack anywhere as Afghans gear up for their second-ever direct presidential election. Militants have warned Afghans not to vote and have threatened to attack voting sites.

The NATO headquarters — where top commander U.S. Gen. Stanley McChrystal is based — sits beside the U.S. Embassy and shares the same street as the presidential palace. The explosion was the first major attack in Kabul since February, when eight Taliban militants struck three government buildings simultaneously in the heart of the city, an assault that killed 20 people and the eight assailants.

Afghanistan has braced for attacks ahead of the election. International workers in the country were planning on working from home over the next week or had been encouraged to leave the country. U.S., NATO and Afghan troops were working to protect voting sites, particularly in regions where militants hold sway.

President Hamid Karzai condemned the attack and said Afghans knew the importance of Thursday’s election.

Read More »

Large real estate lender fails

Real estate lender Colonial BancGroup Inc. has been shut down by federal officials in the biggest U.S. bank failure this year.

The Federal Deposit Insurance Corp., which was appointed receiver of the Montgomery, Ala.-based Colonial and its about $25 billion in assets, said the failed bank’s 346 branches in Alabama, Florida, Georgia, Nevada and Texas will reopen at the normal times starting on Saturday as offices of Winston-Salem, N.C.-based BB&T.

The FDIC has approved the sale of Colonial’s $20 billion in deposits and about $22 billion of its assets to BB&T Corp.

Regulators also closed four other banks: Community Bank of Arizona, based in Phoenix; Union Bank, based in Gilbert, Ariz.; Community Bank of Nevada, based in Las Vegas; and Dwelling House Savings and Loan Association, located in Pittsburgh.

The closures boosted to 77 the number of federally insured banks that have failed in 2009.

The agency established a temporary government bank for Community Bank of Nevada to give depositors about 30 days to open accounts at other financial institutions. The failed bank had assets of $1.52 billion and deposits of $1.38 billion as of June 30.

Read More »