What service did Senator Pelosi and the California Democratic Party provide for Solyndra?

What service did Senator Pelosi and the California Democratic Party provide for Solyndra? Solyndra stole $535 million dollars of taxpayer money which it spent on one of Obama’s green job creation projects which was in the red from the start and just laid off over 1000 workers.

Financial firms have announced more than 120,000 job cuts this year. Bank of America Corp., the biggest U.S. lender by assets, said Sept. 12 it also will eliminate another 30,000 jobs after being attacked directly and repeatedly by Obama and the Democratic Party for revealing that the largest American bank was coerced by the Obama Administration into bailing out Merrill Lynch and Countrywide (the biggest corrupt Dodd-Frank liar loan mortgage dealer in the world). After CEO Ken Lewis squealed and told how Paulson and Geithner had coerced him, Obama twisted the facts and claimed that if Ken Lewis was coerced then he had failed to disclose the risks of that coercion to the shareholders. Obama and his Party then forced out Ken Lewis because he took the coercion public. To force CEO Ken Lewis out, every Democrat State Treasurer in the USA corruptly voted their state pension fund BAC stock in a coordinated illegal national political party use of public funds to fire Ken Lewis. Obama is the greatest job destroyer the USA has ever seen, worse than hurricane Katrina or 911.
http://www.youtube.com/watch?v=hdiFOWzh16I

Phony and incompetent self proclaimed climatoligists now admit the melting of arctic ice due to humans was grossly overstated as 50% when in fact the data showed it was a statistically insignificant 0.1%. It was a 99.8% error. That is very disturbing and shows once again that the Obama environmentalists who say humans are the cause of global warming are either phony con men or just moron liberals. It means Obama has been destroying the cheap American fossil fuel energy industry for nothing. That Obama mistake has caused the loss of American energy industry jobs and has made America less competitive driving American firms closer to bankruptcy. Obama is the greatest job destroyer the USA has ever seen.


World markets
The biggest single financial risk to the World today is that the European situation will spiral out of control.

The bond markets continue to reflect expectations of certain default on Greek debt. The yield on 1-year Greek government bonds is now above 135%. The expected recovery rate implied by the yield stands at about 43% of face value and that is highly optimistic. The problem is that Greece has about 12 million people with about $300 billion in debt, and as economist Nouriel Roubini says its problem is a “chronic lack of competitiveness.” Anywhere from 70% to 80% of Greece’s private-sector companies are owned by the Greek government, state-owned enterprises staffed with political cronies exacting their own payback from getting officials elected. Unions run dozens of companies too. All of this means any bailout of Greece will founder sooner or later. A 2-trillion-euro rescue fund would likely let Greece founder later. That is why Greece never should have been admitted to the EU and needs to exit the EU ASAP.

Central bankers in Asian nations signaled that global financial-market turmoil diminishes inflation pressures in their economies, making previously anticipated interest-rate increases unlikely this year.

China sliding into recession? http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart3:symbol=000001.ss;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

The Swiss market has bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined


American Economy-
Last week summary
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
Initial Claims 09/17 were 423K down from 428K. Good news
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
Leading Indicators Aug rose 0.3 following a 0.5% improvement in July still a good 6 month forward indicator.

Yesterday
New Home Sales Aug 295K down only slightly from 298K due to a hurricane and floods that shut things down about a week in August.

This week
Sep 27 9:00 AM Case-Shiller 20-city Index Jul
Sep 27 10:00 AM Consumer Confidence Sep

Sep 28 7:00 AM MBA Mortgage Index 09/24
Sep 28 8:30 AM Durable Orders Aug
Sep 28 8:30 AM Durable Ordes ex Transportation Aug
Sep 28 10:30 AM Crude Inventories 09/24

Sep 29 8:30 AM Initial Claims 09/24
Sep 29 8:30 AM Continuing Claims 09/17
Sep 29 8:30 AM GDP - Third Estimate Q2
Sep 29 8:30 AM GDP Deflator - Third Estimate Q2
Sep 29 10:00 AM Pending Home Sales Jul

Sep 30 8:30 AM Personal Income Aug
Sep 30 8:30 AM Personal Spending Aug
Sep 30 8:30 AM PCE Prices - Core Aug
Sep 30 9:45 AM Chicago PMI Sep -
Sep 30 9:55 AM Michigan Sentiment - Final Sep

Market Outlook September 27 2011

Until socialist Greece is thrown out of the EU the financial markets will be pounded over and over and the dominoes of the EU will begin to fall. The will continue to cause large swings in share prices.

It is good news in the USA is that housing has bottomed and is now moving up. Construction spending appears to have bottomed out, and sales and sales prices are rising again.

The trading range of equities tested the resistance levels of 2010 and held. We still expect a normal advance of up to at least 50% of the total decline. But then it will be time to lighten up on equities again. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=

We see a pick up in bulk trade which seems to have bottomed and is improving. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND


Stock market update:

Asian Stocks were up significantly last night. China up 0.9%, Hong Kong up 4.2%, India up 3%, Seoul up 5%, and Japan up 2.8%.

European markets are up significantly in a range 3% to 4% half way through their day.
.
American market futures are up about 1.7% at 8AM EST.