Archives for FUBAR

Banks plan stock offerings to pay off TARP

Three big U.S. banks announced large common stock offerings on Monday and said they would use proceeds to repay funds received under the government's bank bailout program.

U.S. Bancorp (USB.N) said it plans to raise $2.5 billion, Capital One Financial Corp (COF.N) roughly $1.75 billion, and BB&T Corp (BBT.N) $1.5 billion. Capital One said its offering will total 56 million shares.


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White House aide resigns in flyover flap

The Pentagon and Air Force are reviewing whether their officials may be partly to blame for a $328,835 photo-op of a jumbo jet used by the president soaring above New York City that has already forced the White House military director to step down.

Former Army Secretary Louis Caldera, the White House aide who authorized the flyover, resigned under fire Friday as the Obama administration tried to move past the embarrassing incident that sent panicked workers rushing into the streets amid flashbacks of Sept. 11.


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Stress tests give economy some good news

Government exams of the nation's biggest banks have helped lift a cloud of uncertainty that has hung over the economy.

The so-called stress tests — a key Obama administration effort to boost confidence in the financial system — showed nine of the 19 biggest banks have enough capital to withstand a deeper recession. Ten must raise a total of $75 billion in new capital to withstand possible future losses.


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Uncle Sam has a real deal for you

Has Uncle Sam got a deal for you! He'll give you up to $4,500 toward a new car simply for trading in that hoopdie you've been driving for too long. Yes, the dealers at the House Energy Committee have reached agreement on -- about the only thing they've reached agreement on -- a "Cash for Clunkers" program.

And you'll be able to hightail it down to the showroom just as soon as they've ironed out a few pesky details in a massive energy and global-warming bill and if they can get the full House and the Senate to go along.


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Is a woman a must for the Supreme Court?

The retirement of Supreme Court Justice David Souter means that President Barack Obama will get to leave his mark on the high court. What criteria should Obama use to select Souter's replacement?

Obama has suggested that he wants a nominee with "empathy," drawing scorn from conservatives who believe the president is seeking an "activist" judge. There have also been suggestions that Obama might aim for diversity with his selection, adding a second woman -- or a first Hispanic -- to the nation's highest court.


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Ohmigod! A thinker for the Supreme Court?

When Associate Justice David Souter announced he would be retiring from the Supreme Court, President Obama lost no time in throwing a cat among the pigeons.

"I will seek someone who understands that justice isn't about some abstract legal theory or footnote in a casebook," he said. "It is also about how our laws affect the daily realities of people's lives. . . . I view that quality of empathy, of understanding and identifying with people's hopes and struggles, as an essential ingredient for arriving at just decisions and outcomes."


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Air traffic control vulnerable to cyber attacks

The nation's air traffic control systems are vulnerable to cyber attacks, and support systems have been breached in recent months allowing hackers access to personnel records and network servers, according to a government audit.

The Transportation Department's inspector general concluded that although most of the attacks disrupted only support systems, they could spread to the operational systems that control communications, surveillance and flight information used to separate aircraft.


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Can a porn star become a U.S. Senator?

Stormy Daniels strode onstage at a downtown Baton Rouge restaurant in a tight black blouse with a plunging neckline and a knee-length skirt in the popular purple of Louisiana State University. She introduced herself with a warning.

"For those of you who don't know who I am," she told the lunch crowd at The Roux House, "I'd suggest that you don't Google that until you get home from work."


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Need a job? The Pentagon may be hiring

President Barack Obama's Defense Department plans to create 20,000 new government jobs to help revise how it buys more than $100 billion of weapons each year, the Pentagon's No. 2 official told Congress.

The Pentagon also plans to tie contract fees more closely to performance and make deals spanning two years, or more, only when "real, substantial" savings result to taxpayers, Deputy Defense Secretary William Lynn told the House of Representatives Armed Services Committee on Wednesday.


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