Thursday, September 25, 2008

United States President George W. Bush addressed the nation on the economic financial crisis from inside the White House saying the economic situation is “serious” and is “in danger” of becoming “a long and painful recession.”

“We are in the midst of a serious financial crisis and the federal government is responding with decisive action,” Bush said in his televised speech.

Bush called for the United States Congress to pass a US$700 billion bill intended to keep struggling companies afloat. He asked the two presidential candidates along with leaders from both parties of Congress to join him for a conference on Thursday.

Last Friday, Treasury Secretary Henry Paulson called for a bailout plan that would allow for the United States government to purchase devalued mortgage backed securities, resulting from the subprime mortgage crisis, from troubled financial institutions. Paulson has said that the plan could cost up to $700 billion. Congressional leaders have said that some form of the plan will pass; however, there is considerable debate over several key issues.

White House spokeswoman Dana Perino said that Bush “believes it is important for the American people to fully understand the depth of the crisis in our financial markets, how that crisis affects them, and the urgent need to agree on a solution.” Bush has been criticized for waiting too long to speak in prime time.

John McCain suspended his campaign to return to Washington and work on the bailout bill. Barack Obama has called for another form of the bill to pass and said that Congress should not package the bailout bill with any other bills — such as an economic stimulus plan.

Meanwhile, Congress has held a second round of hearings on the proposed bailout bill. Paulson and Chairman of the Federal Reserve Ben Bernanke testified in front of the House Financial Services Committee. They felt it was a serious problem in need of an immediate solution.

Rep. Barney Frank, Chairman of House Financial Services Committee, says it is “clear” that the financial bailout bill will pass.

Director of the Congressional Budget Office Peter R. Orsza said while testifying before Congress that “ironically, the intervention could even trigger additional failures of large institutions, because some institutions may be carrying troubled assets on their books at inflated values.”

The bailout plan has been called a “blank check” by many, with members of both parties divided on the issue.

Friday, December 12, 2008

A US$14 billion bailout package deal for the “Big Three” United States automakers — Chrysler, Ford, and General Motors — has been rejected in the United States Senate after failing a procedural vote.

The bill was rejected after bipartisan discussions on the bailout broke down when Republican Party leaders insisted that the United Auto Workers (UAW) union agree to increase wage cuts by next year in order to bring their pay into line with those of Japanese automobile companies in the United States. The UAW refused to meet the demands.

The final vote count in the Senate was 52-35, eight short of the 60 needed to pass. Only ten Republicans joined forty Democrats and two independents in voting for the bill. Three Democrats voted with thirty-one Republicans against it.

Senate Majority leader Harry Reid said that he was “terribly disappointed” by the failure of the bill to pass. “I dread looking at Wall Street tomorrow. It’s not going to be a pleasant sight,” Reid said. “Millions of Americans, not only the auto workers but people who sell cars, car dealerships, people who work on cars are going to be directly impacted and affected.”

Republican Senator Bob Corker was also unhappy about the rejection. “We were about three words away from a deal. We solved everything substantively and about three words keep us from reaching a conclusion,” he said.

Some Democrats now want U.S. President Bush to reserve a portion of the $700 billion bailout package earmarked for Wall Street to assist the flagging car industry.

Stock markets worldwide fell dramatically on the news, with Japan’s Nikkei average losing 484.68 points, or 5.6 percent, reaching a level of 8253.87 points. Shares in the auto companies Toyota, Nissan and Honda all dropped by no less than 10 percent apiece. European stocks, such as those in the United Kingdom and Germany, also lost ground, with the FTSE-100 index of leading shares falling 176.3 points to a level of 4,211 at midday.

Saturday, April 17, 2010

Journalist, counselor, painter, and US 2012 Presidential candidate Joe Schriner of Cleveland, Ohio took some time to discuss his campaign with Wikinews in an interview.

Schriner previously ran for president in 2000, 2004, and 2008, but failed to gain much traction in the races. He announced his candidacy for the 2012 race immediately following the 2008 election. Schriner refers to himself as the “Average Joe” candidate, and advocates a pro-life and pro-environmentalist platform. He has been the subject of numerous newspaper articles, and has published public policy papers exploring solutions to American issues.

Wikinews reporter William Saturn? talks with Schriner and discusses his campaign.

Saturday, February 26, 2011

An elderly Brooklyn, New York woman was found dead yesterday after a fire triggered by a voodoo ceremony caused a blaze in an apartment that left dozens homeless. The details of the ceremony were not clear, but sources say it led to sex.

An unidentified woman hired a Voodoo priest for $300, identified as Nelson (Pepe) Pierre, to perform a mystic ceremony meant to bring her good luck. The woman went to Pierre’s apartment, where she ended up in bed surrounded by lit candles which were mistakenly knocked over, setting the bedsheets on fire. In an effort to suppress the flames, Pierre splashed water from the bathroom sink on the sheets while his roommate, who was ironing at the time, opened a window for air. However, according to the New York Fire Department, wind gusting through the open window created a “blowtorch effect” which caused the fire to spread to the 4th floor hallway and into the 5th and 6th floors. The blaze killed one woman, three others were severely injured, and at least 20 firefighters were left with burn wounds.

In an NYFD statement, Fire Commissioner Salvatore J. Cassano said, “Time and time again we respond to tragedies that could have been so easily prevented. This fire had so many of those elements … hopefully others will learn from this tragedy.” It took hours for hundreds of firemen from dozens of companies to bring the raging fire under control.

Pierre, a man in his 60s, did not call 911 right away, but attempted to quell the fire using water from the bathroom sink. A source in law enforcement said, “Nobody sees a crime right now. It was an accident. Maybe they weren’t careful, but they did try to put it out.”

Mary Feagin, a 64-year old retired teacher, died in the blaze.

The New York Police Department is currently investigating the incident.

Friday, November 3, 2006

On November 13, Torontoians will be heading to the polls to vote for their ward’s councillor and for mayor. Among Toronto’s ridings is Eglinton—Lawrence (Ward 16). Two candidates responded to Wikinews’ requests for an interview. This ward’s candidates include Steven Bosnick, Charm Darby, Albert Pantaleo, Yigal Rifkind, Karen Stintz (incumbent), and Steve Watt.

For more information on the election, read Toronto municipal election, 2006.

Thursday, February 9, 2006

The bill on whether the Australian Federal Health Minster Tony Abbott should not exercise ministerial control of the abortifacient RU486 has passed the Australian Senate February 9, 2006. If the bill passes the Australian House of Representatives, the Therapeutic Goods Administration (TGA) will exercise control and evaluation of the suitability of the drug for use in Australia.

Senators were allowed a free vote on the issue. The result of the vote on the third reading, the final stage of the bill, was 45 for to 28 in favour of TGA exercising control. 23 of the 26 female senators voted in favour of the bill, while numbers were more evenly split between the male senators; 21 of them voted for the bill and 25 were against.

The bill will be debated in the House of Representatives on February 14, 2006.

Friday, April 9, 2010

A man tried to ignite his shoes during a flight from Washington, DC to Las Vegas, Nevada on Wednesday. Air Marshals subdued the Qatari diplomat on board the airplane before it landed safely at Denver International Airport in Colorado. The airplane was United Airlines Flight 663, a Boeing 757 with 157 passengers and 6 crew members on board.

A search concluded that there were no explosives on the plane. NBC News reports that there was smoke coming from a restroom which led to an air marshal subduing the suspect.

The diplomat was reportedly smoking a cigarette in the plane’s lavatory. He also reportedly stated, jokingly, that he wanted to light his shoe on fire. It is unlikely that he will face charges due to his diplomatic immunity.

After the incident was reported by the pilot, military jets scrambled and escorted the airplane safely to Denver. The TSA and law enforcement agencies took the suspect into custody and are currently investigating the incident.

This incident occurs just as many countries are trying to lift their airplane restrictions caused by a Nigerian man who tried to detonate explosives in his underwear.