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Subject: Henry Waxman

Henry Arnold Waxman (born September 12, 1939) is an American politician. He has represented California’s 30th congressional district in the U.S. House of Representatives since 1975. Waxman, a Democrat, is considered to be one of the most influential liberal members of Congress. His district includes much of the western part of the city of Los Angeles, as well as West Hollywood, Santa Monica and Beverly Hills. Before his election to Congress, he served six years in the California State Assembly.
With the Democrats’ victory in the 2006 midterm elections, Waxman became chairman of the House Oversight and Government Reform Committee, the principal investigative committee of the House. He was the committee’s ranking Democrat from 1997 to 2007. In 2009, he began serving as the Chairman of the House Energy and Commerce Committee after defeating Chairman John Dingell in a 137-122 secret vote of House Democrats on November 20, 2008. (Wikipedia Jan 2010)

State finance:

Banks accept California IOUs for deposit

Emperor Norton, typical California nut-case

On July 2, 2009, the Federal Reserve announced that it was aware that the State of California was issuing its own currency to pay its bills.

This, of course, is consistent with the lack of fiscal discipline which is the hall mark of far left Californian politicians, of which Nancy Pelosi is a prime example.

California has experience with nut-case economics, having been the home of the famous Emperor Norton who issued his own currency to pay his bills in the mid-19th century.

US politics

Governor Sarah Palin waves goodbye

Sarah Palin waves goodbye

On the 4th of July weekend, former Republican Vice Presidential candidate, Sarah Palin, resigned her position as Governor of the State of Alaska. This has raised questions as to her political future.

Sarah Palin and her family have been severely, viciously, and unfairly attacked by far left ideologues who hate her and her family as a representatives of a traditional, Norman Rockwell America. Is Sarah finished? Her enemies hope so.

Post Modern Security Analysis

Moving beyond Standard & Poor’s

New Technology

Current publishers of financial statistics, like Standard & Poor’s and Moody’s, only deal with a tiny fraction of the useful data now freely available on the Internet. This article traces the historical development of 20th century financial publishers and suggests new sources and techniques available to Post Modern Security Analysts in the 21st century.

Semantic wikis, collaborative research, Capital Market Taxonomy, and free data collecting tools like Zotero are discussed.

Featured articles on inside pages

Stock buybacks

Warren Buffett attacks buyback schemes

In the 2005 Berkshire-Hathaway annual report, Warren Buffet points to the unethical aspects of the buyback-option schemes so common in the US stock market. He noted that "Too often ... the deck is stacked against investors when it comes to the CEO’s pay. ... every dime paid out in dividends reduces the value of all outstanding options"
More ...

Securities Analysis

Can index funds protect you against inflation?

Historical evidence suggests that equities do not offer fool-proof protection against inflation. Inflation brings high interest rates, confounds accounting practices, and is associated with bad government. More ...

US Politics

Why Congress won't kill ACORN

Closely connected with President Obama, the ACORN group of "community organizers" has drawn censure from the Democrat-controlled Congress as a result of investigative reporting by James O'Keefe and Hannah Giles. More ...

US equities

The productivity vs. population debate

The 'Baby Boomer Bomb' refers to the expected effect of the retirement of the Baby Boomer generation on capital markets, particularly equities. Two proposed 'solutions' to the problem are examined: Boomers being 'saved' by productivity and technology; and, alternatively, by selling their financial assets to the next generation..
More ...

US Bonds

Bond demand exceeds supply for a decade

Over the decade, 1995-2004, the demand for US bonds of all types has surpassed new bond issues in eight of the last ten years. This is the reason that bond prices have held firm, even in 2003, when net new issues reached almost $1.8 trillion. More ...

World Economy

Signs of US losing its groove?

Thirty years ago, US income from abroad was more than double the amount of income that the US paid to the rest of the world. This year, or the next, this foreign income surplus may disappear forever. Is the US 'losing its groove'? More ...

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2010-09-03 16:02