Let Them All Vote!
Research for Online Investors

by John Dalt

4/02/09

You may have heard about the move to grant a seat in the House of Representatives to Washington, D.C. residents.  It is exciting to see our government walk a legal tightrope, this falls right in line with diluting voting requirements nationwide.

Before long, we will allow Mexican citizens the right to vote in our Presidential elections.  Why not?  What we do affects them they should have a vote.  This is the muddled thinking of those who have never read the constitution.  It is so much easier to destroy a country from the inside, erode the law, and blur the lines of right and wrong.  The sideshows continue.  The liberals are buying off Orrin Hatch of Utah by giving his state another seat in the House.  This seat would move to another state in 2010 after the census.  You can read about the Justice Department shopping for a legal opinion in the Washington Post.

The House passed a bill to tax 90% of bonuses from AIG executives last week.  This week it came to light that House members gave bonuses to their aids.  The Wall Street Journal reports that the average House aid received a 17% quarterly bonus in the fourth quarter of 2008.  Obviously, our representatives believe they are doing a great job, watching out for the financial health of our country.  These bonuses were the highest in years.

It is looking more and more like the Justice Department targeted Sen. Ted Stevens of Alaska with prosecution last year, culminating in a guilty verdict of not declaring income on his senate disclosure forms just days before the election. He lost the election by less than 4,000 votes. Who would vote for him after being found guilty of not reporting income? Well now, after he has lost, it seems the conviction will be thrown out. The judge has cited Justice Department lawyers with contempt for their actions that were exposed after the trial. It just does not pay to fight bureaucrats and the marching tide of liberals; they will destroy you if you stand in their way.  The democrats now have the Senate seat that Stevens held for 40 years! You can read about him here.  It appears that Attorney General Holder is urging the court to vacate the conviction so Stevens is not qualified to serve in OH! Bama’s cabinet. He would have fit right in with Turbo Tim at the Treasury.

The American economy lost another 742,000 jobs in March according to ADP, the payroll processing company.  This is the largest monthly job loss in its nine-year history.  This was 94,000 more than many analysts had expected.  The count is now at 4.4 million jobs lost since the recession started.  The market revved higher this morning.

The FASB, Financial Accounting Standards Board clarified ‘Mark to Market’ today.  This accounting standard requires banks to report the value of securities held at the price they could be sold for in the open market.  This only applies to assets held as Tier 1.  These are bonds and securities in the banks trading account.  They could always move these assets out of their trading account, but then they would have to hold reserves against them.  FASB said that the banks would only have to match prices that occurred in an “orderly” sale, and not match prices that occurred in a “distressed” sale.

Statistics shows up to 20% of permission-based e-mails are not delivered.  Make sure you have added our e-mail in your online address book.  This will ensure you receive our daily Market Watch letter, and other information.  Many e-mail service providers have powerful filters to keep spam out of your inbox.  By adding “John@galtstock.com” to your inbox, you will guarantee receipt of our information every day.

“The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries."

-- Winston Churchill

Our last closed trade on the SwingTrader closed yesterday:

POT-bought 3/10 for 71.96 sold 4/01at 82.98 gain 15.3%

Visit their website for a laugh.

The information presented in this newsletter is based on generally available news releases, corporate filings, current events, interviews and the editor’s opinions.  It may contain errors and you should not make investment decisions based solely on what you believe you have read here.  Do your own research, it is your money.  If you lose it, it is your responsibility, not ours or your grandmothers!  The editor may or may not have a position in any securities discussed.  The editor may have held a position in a security earlier, or in the future.

MarketWatch Home Page

Back to Top