Lat week, the government took extraordinary measures to help bail out a private financial company called AIG by sinking $85 billion of our money into the company. The feds are now running the former insurance giant.
On Sept. 7, the government seized mortgage giants Fannie Mae and Freddie Mac to keep them from going under. And you already know about the failed banks that were seized by the government a couple of months ago.
These companies are being taken over by the federal government - which is sinking hundreds of millions of taxpayer dollars into them - because the government says the failure of companies like AIG would further disrupt the markets and send other firms into a "financial death spiral."
I heard that Wachovia bank, where my money is invested, is a major player in this mess. So I called my investment broker at Wachovia today to ask him to explain in layman's terms what's going on.
He said Wachovia is in talks to merge with Morgan Stanley - with the smaller bank (Wachovia) planning to buy the larger investment bank. My Wachovia broker is confident that the deal will be done by this weekend, if not by tomorrow.
He said this is the best time for me (a small investor) to invest more of my money because he thinks the market will rally by next week.
Morgan Stanley's shares plunged as much as 44% yesterday which makes me wonder how this merger benefits Wachovia?
No doubt, Wall Street is in a major crisis right now. This whole mess can be traced back to the Enron debacle involving Bush and his good ol' boys. Financial decisions made by Bush and his cronies in private back rooms in the White house are now coming home to roost.
This morning, president Bush was forced to cancel a trip so he could address the crisis.
Just a few minutes ago, the feds announced a 180-billion-dollar cash line to fight the racing fires of global financial crisis - with foreign banks stepping in to help.
People, keep watching the news - even if you don't have any money invested in the markets. The economy is in a steep nose dive and it's always the little people like us who suffer the most.
Jada Pinkett-Smith is surely battling with Keisha Whitaker for the title of Hollywood's Hottest Crackhead. In an earlier post I pointed out how Jada Pinkett looked terrible, like she was losing it - literally. But as usual, you guys dismissed me for the hater that I am. Pic spotted at Drew Reports.
How's it hanging, Lola? That B*tch points out how video "model" Angel Lola Luv recently inspired some young boys to stay in school at a Back To School Jam in Albany, NY. The nurse in me can't help but notice how Lola's azz resembles a tumor growing out of her thigh that needs to be surgically extracted. I can't believe men find this look sexy, but whatever.
According to Brown Sista, Keyshia Cole was interviewed by Cathy Hughes’ in a TV One on One interview set to air Sunday, Sept. 21st at 10pm. The 26-year-old singer, songwriter and record producer talks with Ms. Hughes about her childhood, her future aspirations, her faith and what inspires her music in the revealing interview.
This message goes out to Keyshia's peoples who reached out to me a few days ago: I'm still waiting for that info you promised me.
Janet Jackson performed to a sell out crowd at the Oracle Arena, Oakland, CA last week. The audience lost it when she pulled a man out of the crowd and simulated sex with him on the stage. But according to That B*tch, this is the same guy Janet pulled out of the crowd in 2001.
What are the odds? There are none. This is standard operating procedure at major concerts. For the star's safety, they rarely ever pull some noob out of the audience because no one likes surprises. I remember a few years ago when I was asked to shoot the last B2K concert in Atlanta.
Several scantily dressed girls were brought backstage at the Atlanta Civic Center for the boys to familiarize themselves with before the show started.
There were no hysterics from the girls, they just stood there calmly as the road manager explained what was expected of them. Later on in the show, I watched as B2K pulled those same girls from the front row and simulated sex with them onstage.
Just when I was wondering where is Michelle Obama when Barack needs her the most, a controversial bust designed in the likeness of Michelle Obama was unveiled yesterday in NYC.
On his website, the artist, Daniel Edwards, described his artwork as
an accessorized mannequin bust of Obama that foregoes the conventional pearl necklace, and provides for her a "signature look" to take to Washington. "The goal is to create a look for Michelle Obama that eliminates excessive comparisons to Jackie Kennedy."
Am I the only one who missed the "excessive comparisons" to Jackie Kennedy? The Afro pick sitting fashionably askew in the Nefertiti style body wave perm adds a nice touch. And I can overlook the tattoos, but where are her nipples?
T.I.'s much-anticipated CD Paper Trail is in stores September 30th. But the set leaked online today. Hopefully the leak won't affect T.I.'s sales.
01. 56 Bars (Intro)
02. I'm Illy
03. Ready for Whatever
04. On Top of the World ft B.o.B. & Ludacris
05. Live Your Life ft. Rihanna
06. Whatever You Like
07. No Matter What
08. My Life, Your Entertainment ft Usher
09. Porn Star
10. Swing Ya Rag ft Swizz Beatz
11. What Up, What's Haapnin'
12. Every Chance I Get
13. Swagga Like Us ft Jay-Z, Kanye West, Lil Wayne
14. Slide Show ft John Legend
15. You Ain't Missin' Nothin
16. Dead and Gone
Not that it matters, but Donald Trump just officially endorsed Sen. John McCain during the Larry King Live show on CNN. Trump criticized Sen. Barack Obama for not selecting Hillary Clinton as his running mate.
Meanwhile, Sen. Hillary Clinton, who has no interest in helping Obama win the election, canceled an attendance at a rally in New York next week. Clinton's aides claim she was "blindsided" when rally organizers also invited Republican VP candidate Sarah Palin to the same rally.
So what? Is Clinton seriously intimidated by a soccer mom from Alaska? Lol, these politicians are so predictable.
As I told you earlier, Ciara (or her camp) attempted to put out a false rumor that she was suing VIBE magazine for airbrushing her drawls off of her for the cover of VIBE.
But her own people within her camp told me that the Ciara wasn't suing anybody.
VIBE's editor in chief, Danyel Smith, says not only did Ciara pose nude, but it was Ciara's idea to do so:
"It's just dramatic. I'm actually really sad. Almost any photo you see on the cover of Vibe or any magazine is airbrushed [to some degree]. What I was thinking of doing, actually, was releasing the unretouched photos [on Vibe's] website, so people can see what the hullabaloo is all about."
"I have so much respect for Ciara and Ciara was so happy when she pitched this idea to us, and the photos are actually striking and beautiful."
Smith clarifies that the magazine has not been sued by the singer. "Vibe would never put anybody out there - man, woman or child - in some way that they did not agree to be. We have no history of doing that."
So there you have it. Ciara is on a slow spiral downward and she's picking up speed with every dumb decision she makes regarding her career. The dumbest decision, of course, was dumping her manager who never would have allowed the VIBE cover fiasco to happen in the first place.
This holiday season, It's Cool To Be Smart will introduce their new book series, called "Saving Our Daughters" From a Man's Point of View and will feature 6 leading African American Men in Film, Television, Sports and Music.
One of these men will be T.I., the organization's sponsor and spokesperson for the past 5 years. It was a very special September 13th weekend at this years' For Sisters Only event because of the support from V-103's Producer of The Porsche Foxx Show, Tequilla Whitfield (pictured below center).
Tequilla and V-103 blessed these two remarkable women with tickets to attend the event this past weekend along with arranging an up/close conversation with T.I., who personally thanked the mother, co-author and writer Karen Watts, for the opportunity to participate in the book to inspire single parent mothers and their daughters.
T.I. has always been in support of single parent mothers and their children with past scholarships and sponsorships for these families to attend recreation centers during the summer and help in college aid.
For more information on Saving Our Daughters and purchasing a copy of the book, please go to www.amanspointofview.orgSource: Kim Ellis
In the spirit of giving, SR.com will give one lucky reader TWO PASSES to T.I.'s upcoming Private Birthday Party at an undisclosed location. In addition, Grand Hustle will treat the lucky SR.com winner to DINNER FOR TWO at an upscale restaurant!
To qualify for the passes and dinner for two, you must be an Atlanta resident who is available to attend the event next weekend!
Check the next post I put up to see how you can win!
You'll be seeing a lot more of Filipino singing sensation Charice Pempengco. Billionaire talk show diva Oprah Winfrey has agreed to manage the career of the 16-year-old singer in the US.
Charice will remain under her local management in the Philippines, according to Nixon Sy, head of the Star Records which signed Pempengco to a recording contract.
Charice recently blew the roof off of Madison Square Garden when she performed a duet with Celine Dion singing Dion's hit "Because You Loved Me".
Charice has performed twice on Oprah's show, including last week when Oprah surprised her by introducing her to Celine Dion via video conference. Celine then invited the youngster to perform with her at her MSG show.
Charice became an instant celebrity when her performances featuring her powerful voice were uploaded on YouTube.