MSNBC’s Ed Schultz and Congressman Barney Frank (D-Ma.) clashed tonight over Congress’s response, or lack of response, to the news that JPMorgan, Goldman Sachs and Morgan Stanley are distributing $30 billion in bonuses this year, a 60 percent increase on their bonus payments from last year. The “newsflash” on the bonuses, according to Schultz, is that there is nothing Congress can do to stop it.

The nation’s second-largest bank expects to lose as much as $750 million a year thanks to a recently-enacted credit card law that attempts to limit unfair rate hikes and hidden fees. JPMorgan Chase revealed the estimate Monday in a regulatory filing : In addition, as a result of the recently-enacted credit card legislation, management estimates, which are preliminary and subject to change, are that Card Services’ annual net income may be adversely affected by approximately $500 million to $750 million.

“The homeless in America have Goldman Sachs to thank for their homelessness and starvation right now. They took the money from their pockets, they put it in their bonuses for this year. . .


 
 $2500 in ER for apx. 2-3 minutes with doctor, 2-3 minutes with nurse; IV and over/counter nausea medicine plus H1N1 nasal swab. If the actual cost exceeded $100 to the Hospital, that would be shocking

The New York Times : For any industry, there has to be at least some good news any time Congress votes to expand the market by tens of millions of customers. But the business world found plenty to complain about Sunday, as it assessed the House bill that would make sweeping changes in the health care system and extend insurance coverage to millions more Americans. Read the whole story: The New York Times

There is a major national ad campaign, funded by the oil industry and other usual suspects, to convince the public that measures to reduce greenhouse gas emissions (GHG) and slow global warming will result in massive job loss. This ad campaign warns of slower growth and the loss of hundreds of thousands of jobs, possibly even millions of jobs, if some variation of the current proposals being debated by Congress get passed into law.

It’s the sort of headline that demands a second look: “Zenyatta Joins the Immortals with Sensational Breeders’ Cup Win” At more than 1,500 words, the accompanying article not only singled out the gallant charge of the 5-year-old mare down the stretch to beat her male rivals in North America’s richest race yesterday — “arguably the finest racemare in American racing history” — but it highlighted other key contests on the second day of most important event in U.S. Thoroughbred racing, the Breeders’ Cup World Championships.