Tag Archives: Investor

Why did Nancy Pelosi not allow a vote on the Credit Card Fair Fee Act?

The San Francisco Chronicle reports on a suspicious stock deal involving Nancy Pelosi.

Excerpt:

House Minority Leader Nancy Pelosi is the subject of a report on the stock investments of members of Congress that is to air Sunday on CBS’ “60 Minutes.”

[…]Kroft asked Pelosi why she and her investor husband, Paul Pelosi, bought an initial public offering of stock in Visa, the San Francisco-based credit card company, in March of 2008.

The same month, former House Judiciary Committee Chairman John Conyers, D-Mich., introduced the Credit Card Fair Fee Act, which would have given merchants the power to negotiate lower fees with credit card companies. The bill, hostile to the credit card industry, was passed by the committee but never brought to the floor. Pelosi was speaker at the time, and controlled which legislation came to a vote.

The Pelosis bought the Visa stock in three transactions totaling $1 million to $5 million, according to financial disclosure reports. The first was the IPO, followed by two other purchases of the stock at higher prices, Pelosi said.

It certainly seems suspicious to me. She owns millions of dollars of stock in a credit card company, and then proposed legislation to regulate that industry is not allowed a vote on the floor of the House.

Conservative Party leader Stephen Harper wins a majority

Stephen Harper Wins Majority
Stephen Harper Wins Majority

You can see the latest Canadian election results here on the Sun News Network.

The Conservatives won 167 seats in the House of Commons. They needed 155 for a majority of the 308 seats.

From the Vancouver Sun.

Excerpt:

Conservative leader Stephen Harper has emerged from the election campaign as a much more powerful prime minister and will lead a majority government with four years to change the country.

At a rally of his supporters here, Conservatives cheered and celebrated Monday as the results rolled in from throughout the country, confirming that Canadians, in large numbers, had given Harper the trust he had sought in the five-week campaign.

As the evening wore on, Harper’s party was coming within striking distance of reaching the benchmark threshold — 155 seats — they needed for a majority. When the Tories crossed that threshold, a great cheer erupted in the hall here in Calgary where supporters had gathered to celebrate and listen to Harper’s speech.

The Conservatives success came as the NDP made historic gains at the expense of the Liberals and Bloc Quebecois, which saw their popular vote drop as they lost seats.

In recent days on the hustings, Harper had portrayed the election as having historic consequences for the country. In addition, his own personal future was at stake.

It was clear that with a majority victory, Harper will be regarded by historians as a political success story who united the political right in Canada.

He will have a four-year mandate to implement significant change in areas ranging from tax policy, to the criminal justice system, to foreign affairs.

Here’s the reaction to the Harper victory from businesses and investors.

Excerpt:

Prime Minister Stephen Harper has won for a third time the leadership of Canada, in a stunning vote which changed the country’s political landscape.

As the ballot counting wore on over six times zones and more than 5,000 miles from Atlantic to Pacific, Harper won his great aim, a majority government after two minorities in 2006 and 2008. The television networks declared his majority victory well before 11 p.m. ET. The Conservatives may have won 160 to 165 seats when 155 are needed for a majority in the 308-seat House of Commons.

While a Conservative victory again was always considered quite possible, the countrys political landscape was altered in three stunning ways:

The New Democratic Party, a rump group of social democrats in the 41st Parliament with 36 seats in the 308-seat House of Commons, surged into becoming the chief opposition party in the 42nd Parliament with about 105 to 108 seats.

The former chief opposition party, the historically great Liberal Party of Canada, the government of the country for more than 100 years of Canada’s 144 years since Confederation of separate British colonies into one nation, sunk to a very poor third with perhaps 30 seats. Michael Ignatieff, who became Liberal leader exactly two years earlier to the date, was looking to lose his Toronto-area seat.

The Bloc Quebecois, the separatist party from the French-speaking province of Quebec, was wiped out by the surging NDP, from 47 of Quebec’s 75 seats to perhaps two seats.

While the social democrats in the new Democratic party hold a powerful position in the House of Commons, the Conservatives with their majority will enforce a program which by and large is what foreign and domestic business and investors prefer.

The Conservatives will bring back a budget which was lost in the last Parliament when the election intervened 36 days ago, and will continue with a further tax cut for corporations, but a reduction in spending it said would bring back balance during 2014, erasing the federal budget deficit the Conservatives created after 11 years of Liberal government-created surpluses.

Prime Minister Harper campaigned for a majority saying his Conservatives were the prudent economic managers while the others were “tax and spend” parties. He will keep the same course. Economists have said that they see no significant changes in deficit reduction or in monetary policy under the Conservatives.

Well done, Canada! Congratulations!

Round-up of news from around the world

Honduras protesters continue to bash Obama and CNN
Pro-freedom protesters in Honduras defy Obama and CNN

So much foreign policy news!

Iraq

Jason over at The Western Experience has a number of good stories up.

He writes that Iraq is struggling to find foreign investors for its oil fields.

Excerpt:

…the Iraqi government has to decide on how to lure foreign investors and oil firms to setup shop in the many rich oil fields. With modern development, industry and organization Iraq could be a major producer and, potentially, one of the major countries in the world in just a few decades. So far, things haven’t exactly happened in the order many experts and investors hoped. The hang up is, of course, price per barrel. Companies were asking too much for operating in the country in the eyes of the government. Still, others were willing to operate at  loss just to get a foothold in the new market.

It’s funny, because if our war in Iraq were really a war for oil, why is Iraq taking offers to see who will be drilling for all that oil? (The offers are also coming from China, Russia and India, not just the USA)

Egypt

Robert Spenser of Jihad Watch links to this Assist News article about the state of Christian liberty in Egypt.

Excerpt:

Since early 2007 the Egyptian government has been appeasing Muslim fundamentalists by settling matters of sectarian conflict out of court in line with Islamic Sharia law. That prohibits Christians from bringing evidence against Muslims. The government brokers ‘reconciliation’ sessions where the Christians are forced to drop all the charges they are making (arson, looting, assault, kidnap, robbery, criminal damage, rioting, torture, rape, murder) in exchange for Muslim guarantees of ‘peace’.

…Not only is violence against Christian individuals, churches and communities escalating dangerously, but the courts are increasingly subordinating the Constitution to Sharia law. Notably, the courts are refusing to allow Muslims the right to convert. The consequences of this are huge. A woman who is officially registered as a Muslim must by law marry a Muslim and the children of a man officially registered as a Muslim are automatically deemed Muslim by the State. The few who have courageously challenged this have been forced into hiding to preserve their lives.

Please pray for our Christian brothers and sisters in other countries.

Sri Lanka, Iran, Pakistan, Afghanistan, Georgia, etc.

Wow! Michael Totten has a super-long interview with Robert Kaplan, a moderate who writes about the U.S. military and global conflicts in the most far-flung places in the world.

Excerpts:

Kaplan: …The Tamil Tigers had human shields by the tens of thousands, not just by the dozens and hundreds like Al Qaeda. They put people between themselves and the government and say “you have to kill all the people to get to us.” So the government obliged them. The government killed thousands of civilians.

Kaplan: …The Sri Lankan government was elected in 2005 to win the war. And it has done that. Extremely brutally. It’s a government that’s very nationalist Sinhalese Buddhist. These are not the Richard Gere’s “peace and love” Buddhists. These are the real blood and soil Buddhists, where Buddhism is like any other religion when it’s threatened and it’s defending a piece of territory. It can be very brutal.

Wow, this thing was really messy. You have suicide bombing terrorists with human shields on the one side, and a journalist-killing authoritarian government on the other side. There were no good guys. What a mess. These militant Buddhists remind me of the militant nationalist Hindus I talked about before.

And here is a guest post about Russia and Georgia.

Honduras timeline

Here is a pretty useful timeline of events from Atlas Shrugs for the current democratic crisis in Honduras. This article really emphasizes the socialist policies of the wanna-be dictator. The person who provided it is an American investor living in Honduras.

Excerpt:

I have been disgusted at the world reaction to these events. It’s like they only looked at what happened on Sunday morning and ignored what events led to that day. I don’t understand how the removal of Zelaya was anything less than a small country demanding that their country remain democratic. Their constitutional process worked exactly right to remove a rogue president with an agenda that was detrimental to the Honduran constitution and society. While the actions o f June 28 would fit some definitions of a coup, it was certainly a legal and CONSTITUTIONAL coup. There have been several articles written that state that it was a MANDATORY coup. That’s a very difficult concept for most people from the first world to understand, but there are some coups that are good and even required.

I hope that Honduras can bear up under the economic sanctions they are likely to face – and no help from Obama, either. He seems to prefer Chavez and Ahmadinejad.