Pelosi, Kerry May Share Investor Pain as AIG Stakes Evaporate
Posted by "Pat Buchanan, Jr." on September 19, 2008 at 07:17 PM
Sweet poetic justice! But wait, this might explain why they want the government to bail them out. It’s pretty sickening.
Sept. 19 (Bloomberg)—The market storm that brought down Lehman Brothers Holdings Inc., American International Group Inc. and other pillars of U.S. finance may have also blown holes in the portfolios of House Speaker Nancy Pelosi, Senator John Kerry and more than 50 other members of Congress.
Pelosi, in her most recent financial disclosure form, reported that her husband owned between $250,000 and $500,000 of stock in AIG, which ceded majority control to the U.S. government this week in exchange for $85 billion of loans.
Kerry, the 2004 Democratic presidential nominee, disclosed that his wife, Teresa Heinz Kerry, had more than $2 million of AIG stock at the end of 2007, when shares were worth $58.30. AIG has fallen 85 percent this week to close yesterday at $2.69. The lawmakers’ aides didn’t respond to calls seeking comment.
LINK to full article.
L.A. blocks new fast-food outlets from poor areas
Posted by "Pat Buchanan, Jr." on July 29, 2008 at 06:22 PM
I wonder if they offer drive-thru service in the nanny state.
LOS ANGELES (AP) – The Los Angeles City Council has approved a one-year moratorium on new fast-food restaurants in a low-income area of the city.
The moratorium unanimously approved Tuesday is a bid to attract restaurants that offer healthier food choices to residents in a 32-square-mile area of South Los Angeles.
Councilwoman Jan Perry says residents at five public meetings expressed concern with the proliferation of fast-food outlets in the community plagued by above-average rates of obesity.
Nearly three-quarters of the restaurants in South L.A. are fast-food outlets. That’s a higher percentage than other parts of the city but the restaurant industry says the moratorium won’t help bring in alternatives.
