The Euro and Greece
The situation in Greece has gotten so shaky that the EU has created it's own TARP program with just under $1 trillion available. This is a huge shift for Europe as the European rejected the US solution over a year ago. The big question is will it work and what will be the fall out? Some experts see it as slowing growth in Europe. Another expert predicts that the Euro and Dollar could reach parity by the end of the year.
Personally, when I look at it, it tends to prop up the dollar. The monetary policies of the Obama Administration are ridiculous, but the dollar hasn't fallen as much as it should. The reason for this is, what other currency would be a better bet. Right now there isn't any.
Elena Kagan has become the latest controversy for the Obama Administration. Right now according to Rasmussen, 33% Want Kagan Confirmed, 33% Do Not, 34% Not Sure... That is what I call a split decision. And if you read the blogs she is getting flack from both the left and the right.
WHO wants to Tax You
The World Health Organization is moving full speed ahead with a controversial plan to impose billions of dollars in global consumer taxes on such things as Internet activity and everyday financial transactions like paying bills online — while its spending soars and its own financial house is in disarray.
The United Nations has shown itself to be a huge nonresponsive bureaucracy that his the fiscal integrity of Bernie Madoff. In addition this is the same organization that hyped up the bird flu and swine flu scares. Now WHO can do good works as well. But the funding increase they are looking at is bound to end up with more scandals.
Fannie and Freddie and Financial Reform
Our congress seems bent on putting restrictions on Wall Street while totally ignoring Fannie Mae and Freddie Mac. With the financial crisis we had in 2008, Fannie and Freddie were basically the Typoid Mary's of the crisis, yet the Congress has done nothing to rein them in.
Already bailed out to the tune of $140 billion, in December the Treasury announced it was removing the caps that limited the amount of available capital to the companies to $200 billion each through 2012.
This is the most expensive bailout in history and it seems the Obama Administration wants to double down on it.