Tuesday, September 23, 2008

President Bush Addresses United Nations General Assembly VIDEO

President George W. Bush is welcomed by United Nations U.S. Ambasador Dr. Zalmay Khalilzad

President George W. Bush is welcomed by United Nations U.S. Ambasador Dr. Zalmay Khalilzad as he arrives Monday, Sept. 22, 2008, aboard Marine One at the Wall Street helicopter landing area in New York City. President Bush addressed the United Nations General Assembly on Tuesday Sept.23, 2008. White House photo by Eric Draper.

President Bush makes speech to the United Nations

President Bush makes his speech to the United Nations when the General Assembly opened today. Later in the day, he met with U.N. Sec. General Ban Ki Moon and the Iraq Coalition.
President Bush Addresses United Nations General Assembly, FULL STREAMING VIDEO, United Nations Headquarters New York, New York. In Focus: Global Diplomacy 10:12 A.M. EDT.

THE PRESIDENT: Mr. Secretary General, distinguished delegates, ladies and gentlemen: I'm pleased to be here to address the General Assembly.

Sixty-three years ago, representatives from around the world gathered in San Francisco to complete the founding of the Charter of the United Nations.

They met in the shadow of a devastating war, with grave new dangers on the horizon. They agreed on a historic pledge: "to reaffirm faith in fundamental human rights, and unite their strength to maintain international peace and security."

This noble pledge has endured trying hours in the United Nations' history, and it still guides our work today. Yet the ideals of the Charter are now facing a challenge as serious as any since the U.N.'s founding -- a global movement of violent extremists.
By deliberately murdering the innocent to advance their aims, these extremists defy the fundamental principles of international order. They show contempt for all who respect life and value human dignity. They reject the words of the Bible, the Koran, the Torah, or any standard of conscience or morality. They imperil the values of justice and human rights that gave birth to the United Nations -- values that have fueled an unprecedented expansion of freedom across the world.

To uphold the words of the Charter in the face of this challenge, every nation in this chamber has responsibilities. As sovereign states, we have an obligation to govern responsibly, and solve problems before they spill across borders. We have an obligation to prevent our territory from being used as a sanctuary for terrorism and proliferation and human trafficking and organized crime. We have an obligation to respect the rights and respond to the needs of our people.

Multilateral organizations have responsibilities. For eight years, the nations in this assembly have worked together to confront the extremist threat. We witnessed successes and setbacks, and through it all a clear lesson has emerged: The United Nations and other multilateral organizations are needed more urgently than ever. To be successful, we must be focused and resolute and effective. Instead of only passing resolutions decrying terrorist attacks after they occur, we must cooperate more closely to keep terrorist attacks from happening in the first place. Instead of treating all forms of government as equally tolerable, we must actively challenge the conditions of tyranny and despair that allow terror and extremism to thrive. By acting together to meet the fundamental challenge of our time, we can lead toward a world that is more secure, and more prosperous, and more hopeful.

In the decades ahead, the United Nations and other multilateral organizations must continually confront terror. This mission requires clarity of vision. We must see the terrorists for what they are: ruthless extremists who exploit the desperate, subvert the tenets of a great religion, and seek to impose their will on as many people as possible. Some suggest that these men would pose less of a threat if we'd only leave them alone. Yet their leaders make clear that no concession could ever satisfy their ambitions. Bringing the terrorists to justice does not create terrorism -- it's the best way to protect our people.

Multilateral organizations must respond by taking an unequivocal moral stand against terrorism. No cause can justify the deliberate taking of innocent human life -- and the international community is nearing universal agreement on this truth. The vast majority of nations in this assembly now agree that tactics like suicide bombing, hostage-taking and hijacking are never legitimate. The Security Council has passed resolutions declaring terror unlawful and requiring all nations to crack down on terrorist financing. And earlier this month, the Secretary General held a conference to highlight victims of terror, where he stated that terrorism can never be justified.

Other multilateral organizations have spoken clearly, as well. The G8 has declared that all terrorist acts are criminal and must be universally condemned. And the Secretary General of the Organization of the Islamic Conference recently spoke out against a suicide bombing, which he said runs counter to the teachings of Islam. The message behind these statements is resolutely clear: Like slavery and piracy, terrorism has no place in the modern world.

Around the globe, nations are turning these words into action. Members of the United Nations are sharing intelligence with one another, conducting joint operations, and freezing terrorist finances. While terrorists continue to carry out attacks like the terrible bombing in Islamabad last week, our joint actions have spared our citizens from many devastating blows.

With the brutal nature of the extremists increasingly clear, the coalition of nations confronting terror is growing stronger. Over the past seven years, Afghanistan and Iraq have been transformed from regimes that actively sponsor terror to democracies that fight terror. Libya has renounced its support for terror and its pursuit of nuclear weapons. Nations like Saudi Arabia and Pakistan are actively pursuing the terrorists. A few nations -- regimes like Syria and Iran -- continue to sponsor terror. Yet their numbers are growing fewer, and they're growing more isolated from the world.

As the 21st century unfolds, some may be tempted to assume that the threat has receded. This would be comforting; it would be wrong. The terrorists believe time is on their side, so they made waiting out civilized nations part of their strategy. We must not allow them to succeed. The nations of this body must stand united in the fight against terror. We must continue working to deny the terrorists refuge anywhere in the world, including ungoverned spaces. We must remain vigilant against proliferation -- by fully implementing the terms of Security Council Resolution 1540, and enforcing sanctions against North Korea and Iran. We must not relent until our people are safe from this threat to civilization.

To uphold the Charter's promise of peace and security in the 21st century, we must also confront the ideology of the terrorists. At its core, the struggle against extremists is a battle of ideas. The terrorists envision a world in which religious freedom is denied, women are oppressed, and all dissent is crushed. The nations of this chamber must present a more hopeful alternative -- a vision where people can speak freely, and worship as they choose, and pursue their dreams in liberty.

Advancing the vision of freedom serves our highest ideals, as expressed in the U.N.'s Charter's commitment to "the dignity and worth of the human person." Advancing this vision also serves our security interests. History shows that when citizens have a voice in choosing their own leaders, they are less likely to search for meaning in radical ideologies. And when governments respect the rights of their people, they're more likely to respect the rights of their neighbors.

For all these reasons, the nations of this body must challenge tyranny as vigorously as we challenge terror. Some question whether people in certain parts of the world actually desire freedom. This self-serving condescension has been disproved before our eyes. From the voting booths of Afghanistan, Iraq, and Liberia, to the Orange Revolution in Ukraine and the Rose Revolution in Georgia, to the Cedar Revolution in Lebanon and the Tulip Revolution in Kyrgyzstan, we have seen people consistently make the courageous decision to demand their liberty. For all the suggestions to the contrary, the truth is that whenever or wherever people are given the choice, they choose freedom.

Nations in these chambers have supported the efforts of dissidents and reformers and civil society advocates in newly free societies throughout the new United Nations Democracy Fund. And we appreciate those efforts. And as young democracies around the world continue to make brave stands for liberty, multilateral organizations like the United Nations must continue to stand with them.

In Afghanistan, a determined people are working to overcome decades of tyranny, and protect their newly-free society. They have strong support from all 26 nations of the NATO Alliance. I appreciate the United Nations' decision this week to renew the mandate for the International Security Assistance Force in Afghanistan. The United Nations is also an active civilian presence in Afghanistan, where experts are doing important work helping to improve education, facilitate humanitarian aid, and protect human rights. We must continue to help the Afghan people defend their young democracy -- so the Taliban does not return to power, and Afghanistan is never again a safe haven for terror.

In Iraq, the fight has been difficult, yet daily life has improved dramatically over the past 20 months -- thanks to the courage of the Iraqi people, a determined coalition of nations, and a surge of American troops. The United Nations has provided the mandate for multinational forces in Iraq through this December. And the United Nations is carrying out an ambitious strategy to strengthen Iraq's democracy, including helping Iraqis prepare for their next round of free elections. Whatever disagreements our nations have had on Iraq, we should all welcome this progress toward stability and peace -- and we should stand united in helping Iraq's democracy succeed.

We must stand united in our support of other young democracies, from the people of Lebanon struggling to maintain their hard-won independence, to the people of the Palestinian Territories, who deserve a free and peaceful state of their own. We must stand united in our support of the people of Georgia. The United Nations Charter sets forth the "equal rights of nations large and small." Russia's invasion of Georgia was a violation of those words. Young democracies around the world are watching to see how we respond to this test. The United States has worked with allies in multilateral institutions like the European Union and NATO to uphold Georgia's territorial integrity and provide humanitarian relief. And our nations will continue to support Georgia's democracy.

In this chamber are representatives of Georgia and Ukraine and Lebanon and Afghanistan and Liberia and Iraq, and other brave young democracies. We admire your courage. We honor your sacrifices. We thank you for your inspiring example. We will continue to stand with all who stand for freedom. This noble goal is worthy of the United Nations, and it should have the support of every member in this assembly.

Extending the reach of political freedom is essential to prevailing in the great struggle of our time -- but it is not enough. Many in this chamber have answered the call to help their brothers and sisters in need by working to alleviate hopelessness. These efforts to improve the human condition honor the highest ideals of this institution. They also advance our security interests. The extremists find their most fertile recruiting grounds in societies trapped in chaos and despair -- places where people see no prospect of a better life. In the shadows of hopelessness, radicalism thrives. And eventually, that radicalism can boil over into violence and cross borders and take innocent lives across the world.

Overcoming hopelessness requires addressing its causes -- poverty, disease, and ignorance. Challenging these conditions is in the interest of every nation in this chamber. And democracies are particularly well-positioned to carry out this work. Because we have experience responding to the needs of our own people, we're natural partners in helping other nations respond to the needs of theirs. Together, we must commit our resources and efforts to advancing education and health and prosperity.

Over the years, many nations have made well-intentioned efforts to promote these goals. Yet the success of these efforts must be measured by more than intentions -- they must be measured by results. My nation has placed an insistence on results at the heart of our foreign assistance programs. We launched a new initiative called the Millennium Challenge Account, which directs our help to countries that demonstrate their ability to produce results by governing justly, and fighting corruption, and pursuing market-based economic policies, as well as investing in their people. Every country and institution that provides foreign assistance, including the United Nations, will be more effective by showing faith in the people of the developing world -- and insisting on performance in return for aid.

Experience also shows that to be effective, we must adopt a model of partnership, not paternalism. This approach is based on our conviction that people in the developing world have the capacity to improve their own lives -- and will rise to meet high expectations if we set them. America has sought to apply this model in our Emergency Plan for AIDS Relief. Every nation that receives American support through this initiative develops its own plan for fighting HIV/AIDS -- and measures the results. And so far, these results are inspiring: Five years ago, 50,000 people in sub-Sahara Africa were receiving treatment for HIV/AIDS. Today that number is nearly 1.7 million. We're taking a similar approach to fighting malaria, and so far, we've supported local efforts to protect more than 25 million Africans.

Multilateral organizations have made bold commitments of their own to fight disease. The G8 has pledged to match America's efforts on malaria and HIV/AIDS. Through the Global Fund, many countries are working to fight HIV/AIDS, malaria, and TB. Lives in the developing world depend on these programs, and all who have made pledges to fight disease have an obligation to follow through on their commitments.

One of the most powerful engines of development and prosperity is trade and investment, which create new opportunities for entrepreneurs, and help people rise out of poverty, and reinforce fundamental values like transparency and rule of law. For all these reasons, many in these chambers have conducted free trade agreements at bilateral and regional levels. The most effective step of all would be an agreement that tears down trade barriers at the global level. The recent impasse in the Doha Round is disappointing, but that does not have to be the final word. I urge every nation to seize this opportunity to lift up economies around the world -- and reach a successful Doha agreement as soon as possible.

Beyond Doha, our nations must renew our commitment to open economies, and stand firm against economic isolationism. These objectives are being tested by turbulence in the global financial markets. Our economies are more closely connected than ever before, and I know that many of you here are watching how the United States government will address the problems in our financial system.

In recent weeks, we have taken bold steps to prevent a severe disruption of the American economy, which would have a devastating effect on other economies around the world. We've promoted stability in the markets by preventing the disorderly failure of major companies. The Federal Reserve has injected urgently-needed liquidity into the system. And last week, I announced a decisive action by the federal government to address the root cause of much of the instability in our financial markets -- by purchasing illiquid assets that are weighing down balance sheets and restricting the flow of credit. I can assure you that my administration and our Congress are working together to quickly pass legislation approving this strategy. And I'm confident we will act in the urgent time frame required.

The objectives I've laid out for multilateral institutions -- confronting terror, opposing tyranny, and promoting effective development -- are difficult, but they are necessary tasks. To have maximum impact, multilateral institutions must take on challenging missions. And like all of us in this chamber, they must work toward measurable goals, be accountable for their actions, and hold true to their word.

In the 21st century, the world needs a confident and effective United Nations. This unique institution should build on its successes and improve its performance. Where there is inefficiency and corruption, it must be corrected. Where there are bloated bureaucracies, they must be streamlined. Where members fail to uphold their obligations, there must be strong action. For example, there should be an immediate review of the Human Rights Council, which has routinely protected violators of human rights. There should be a stronger effort to help the people of Burma live free of the repression they have suffered for too long. And all nations, especially members of the Security Council, must act decisively to ensure that the government of Sudan upholds its commitment to address the violence in Darfur.

The United Nations is an organization of extraordinary potential. As the United Nations rebuilds its headquarters, it must also open the door to a new age of transparency, accountability, and seriousness of purpose.

With determination and clear purpose, the United Nations can be a powerful force for good as we head into the 21st century. It can affirm the great promise of its founding.

In the final days of the San Francisco Conference, the delegates negotiating the U.N. Charter received a visit from President Harry Truman. He acknowledged the enormous challenges they faced, and said success was only possible because of what he called an "unshakable unity of determination." Today the world is engaged in another period of great challenge. And by continuing to work together, that unshakable unity of determination will be ours. Together, we confront and defeat the evil of terrorism. Together, we can secure the Almighty's gift of liberty and justice to millions who have not known it. And together, we can build a world that is freer, safer, and better for the generations who follow.

Thank you. (Applause.)

END 10:34 A.M. EDT For Immediate Release, Office of the Press Secretary September 23, 2008

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McCain Palin TV Ad:Chicago Machine VIDEO


McCain-Palin 2008 Launches New TV Ad: "Chicago Machine" For Immediate Release. September 21, 2008 Contact: Press Office 703-650-5550

ARLINGTON, VA -- McCain-Palin 2008 released its latest television ad, entitled "Chicago Machine." The ad highlights the Obama campaign's ties to Chicago Machine Politics and the Senator's Histoty and connections The ad will air in key states.

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Monday, September 22, 2008

Saturday Night Live John McCain Ads VIDEO

Saturday Night Live John McCain Ads VIDEO - SNL spoofs this election seasons "negative ads"

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President Bush Welcomes NBA Champion Boston Celtics to the White House VIDEO PODCAST

President Bush Welcomes NBA Champion Boston Celtics to the White House VIDEO PODCAST

President George W. Bush meets with members of the 2008 NBA Championship Boston Celtics Friday, Sept. 19, 2008, at the White House. The Celtics set a record for the biggest margin of victory in a championship game when they defeated the Los Angeles Lakers 129-96 in the series-clinching sixth game. White House photo by Joyce N. Boghosian.
President Bush Welcomes NBA Champion Boston Celtics to the White House FULL STREAMING VIDEO East Room 3:04 P.M. EDT. PODCAST OF THIS ARTICLE

THE PRESIDENT: Welcome to the White House. (Applause.) Please be seated. So, Celtic Pride is back. (Applause.) So a friend of mine, who is a huge Celtics fan, said, why don't you call it the "Boston Three Party"? I said, because it took a team to win.
And I welcome the Boston Celtics team that has brought great pride to the Boston area. You know, I was telling them, I went to school up there. And those were the days when the Celtics were awesome. And there was a little bit of a drought, but sure enough that drought ended -- with the NBA championship. And I welcome you all to the White House as NBA champs.

I do want to say congratulations to the owners. You might recall I was an owner of a baseball team, and never knew what this felt like. (Laughter.) Wick Grossbeck, Irv Grossbeck, and wives; Steve Pagliuca; Bob Epstein -- these all say "managing partner." You got a lot of managing partners. (Laughter.) But that's good. I know you're proud and I know you're thrilled to -- being here. I congratulate the general manager, Danny Ainge. I -- Rick Gotham, the team president who is with us; Doc Rivers -- this guy can coach. (Applause.) And coaches -- and coaches.

I congratulate the -- all those who work in the organization for joining us. Welcome to members of Congress. Glad you all are here. I welcome members of my administration who have come; members of the United States Armed Forces who are with us today -- (applause) -- Boston Celtics fans who are with us today. (Applause.) I don't think we've had this many fans since St. Patrick's Day, Senator. (Laughter.) And finally, and most importantly, the players who brought the championship back to Boston. Welcome. Congratulations to you. (Applause.)

It's amazing how sports works, isn't it? At the beginning of last season, few would have predicted how this season would have ended. After all, the Celtics had finished with the second worst record in the NBA. And the two-decade championship drought was pretty likely to continue -- at least that's what the experts said. There's a lot of experts in life these days -- hadn't noticed. (Laughter.)

Except the owners were determined to win. They said, we're going to bring a winner for our fans. These are fan-oriented owners who understand that a sports franchise is only good as its fan base. And then you hired a general manager who knew what it meant to be a champion. You didn't hire him; he's been there for a while. But he knew what it meant to be a champion. After all, he's from the 1986 championship team. And he knows there's something special that needs to be put together to make a team work, and that's Danny Ainge.

And so during the offseason, he figured out the need to bring maybe some new blood -- or some old new blood. (Laughter.) Well, older new blood. And of course, you know, the famous trades were made for -- the famous pickups were Kevin Garnett and Ray Allen. And these guys are awesome players. But Danny Ainge would be the first to tell you -- by the way, the NBA Executive of the Year would be the first to tell you, it takes an entire team to win a championship. You bet these two people were awesome additions to the team, but it required a bunch of people playing together for the common good to win.

And that's what Doc Rivers did. See, this guy is -- I've known him somewhat. He's a good man. He brought character to the clubhouse. He brought unity to the team. And he helped bring the championship back to Boston.

The team got off to a fast start; they won the first eight games and they never looked back for 66 wins -- the NBA's best record. And then you got in the playoffs, which didn't exactly go as smoothly as some people thought -- (laughter) -- but nevertheless, when it came time to defend your home court, this team figured out how to do it.

And then, of course, the L.A. Lakers in the finals. For baby boomers like me, that is the -- that was a reminder of a great basketball rivalry. So, like, Boston fans were screaming, "Beat L.A.!" at the top of their lungs, and that's exactly what this team did in six hard-fought games. If you're a basketball fan or a sports fan, it was really awesome to watch, wasn't it? If you're a Boston Red Sox fan it was doubly awesome to watch -- (laughter) -- Boston Celtics fan -- man, you were in heaven. (Laughter.)

Despite his knee injury early in the series, this team's captain Paul Pierce played with courage. You know, leadership comes in all different kinds of ways. Playing hurt in a championship game is the ultimate sign of leadership. And that's why he won the MVP honors for the NBA finals. And that's why the league calls him "The Truth." This team calls him the captain. (Applause.)

It is safe to say that everybody on this team contributed to the championship. You know, not enough focus has been put on, until the end, the depth of the bench on the Boston Celtics. They had a lot of players come off the bench to make a huge difference, and although the three big names, three great NBA players were there, but the real strength was the depth of the roster, I think. And I think most of the basketball experts will tell you that's the case. So I congratulate all of you for contributing to something that was very important. We'll remember your stifling defense, we'll remember your sharp shooting and the way -- we'll remember the way you played together as a unit, as a team.

I appreciate very much the use of the word "ubuntu." I don't know if you know what that's talking about here. Probably most people outside Boston don't. It is a African word for unity that they declared when they broke the huddle. I've been looking forward to saying that with a Texas accent. (Laughter.) Ubuntu. Yes. (Applause.)

I'm proud of your character. I want to thank the Celtic organization for what you do off the court as well. I believe there is a huge responsibility not only to try to win on the court but to be responsible citizens in the community in which you live. The Shamrock Foundation, for example, helps disadvantaged children during the season and after the season. I appreciate the fact that during the second quarter of every home game, the Celtics honor some caring citizen; someone who I said is a soldier in the army of compassion. With the "Hero Among Us" program, that's a really good idea, and I thank you for doing that. I want to congratulate you for worrying about children and literacy and using your special status in society to set a good example.

Most of all I congratulate you for being champs. I wish you all the very best for the next season. Should you win it, you can find me in Texas. (Laughter and applause.)

Congratulations. Congratulations, and now it is my honor to bring to the podium "The Truth," team captain Paul Pierce. (Applause.)

MR. PIERCE: Little nervous. (Laughter.) Well, Mr. President --

THE PRESIDENT: Yes, sir.

MR. PIERCE: We just want to say it's truly an honor to be here in your house today. And on behalf of the Celtics organization, we'd like to thank you. And from what I hear, you played a little high school basketball yourself. So we're going to honor you with a basketball signed from our team.

THE PRESIDENT: I'm honored.

Q And a jersey, Celtic jersey with a 43 on it -- even those that's Kendrick Perkins's number. (Laughter and applause.) And he's from Texas. So that's why we gave you 43. (Laughter.)

No, but for real, in honor for you being the 43rd President, we'd like to present this to you. And also, on behalf of the families and the victims in Hurricane Ike, the organization would like to also present a check for $100,000 to the Red Cross relief. (Applause.)

So once again, we'd just like to say thank you, and it's truly an honor.

THE PRESIDENT: Thank you, sir. (Applause.)

END 3:14 P.M. EDT For Immediate Release Office of the Press Secretary September 19, 2008

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COMMISSION ON PRESIDENTIAL DEBATES AND WEBMD TO PARTNER

Commission on Presidential Debates Logo

WebMD’s 48 million health-engaged visitors will be able to submit questions for upcoming presidential debate
NEW YORK, NY - WebMD, the leading source of health information, has teamed up with the nonpartisan Commission on Presidential Debates (CPD) to help educate WebMD’s WebMD Logo
visitors about issues that are prominent during the 2008 general election debates. WebMD will gather questions for the second presidential debate – a Town Hall format to be moderated by NBC News’ Tom Brokaw.

During the debate on Tuesday, October 7, the moderator will ask questions from audience members and may include health-related questions that are submitted online at WebMD. WebMD will use its election message board (www.webmd.com/askthecandidates) to gather questions for consideration by Mr. Brokaw.

“As healthcare has been one of the most important issues of this election, we are proud to be partnering with the Commission on Presidential Debates to give voice to WebMD’s 48 million visitors,” said Wayne Gattinella, CEO, WebMD. “We are committed to providing Americans with the information they need to make more informed healthcare - and election - decisions.”

The election message board – which allows voters to discuss health care in the U.S. – is just one component of WebMD's special report, “Health Matters in the 2008 Election” (www.webmd.com/election2008). Throughout the election season, WebMD has provided voters with the information they need to understand this important issue. Among the special section’s other features are a comparison chart of the two candidates’ health care platforms, along with in-depth reports on key health issues facing people today.

Along with WebMD’s special election coverage, WebMD will help direct consumers to MyDebates.org, an educational website created by MySpace and the CPD which will address other important election issues such as the economy, environment and national security.

About WebMD
WebMD Health Corp. (Nasdaq: WBMD) is the leading provider of health information services, serving consumers, physicians, healthcare professionals, employers and health plans through our public and private online portals and health-focused publications. WebMD Health Corp. is a subsidiary of HLTH Corporation (Nasdaq: HLTH). The WebMD Health Network reaches more than 48 million visitors a month through its leading owned and operated health sites that include WebMD Health, Medscape, MedicineNet, eMedicine, eMedicine Health, RxList and theheart.org.

About the Commission on Presidential Debates
The Commission on Presidential Debates (CPD) was established in 1987 to ensure that debates, as a permanent part of every general election, provide the best possible information to viewers and listeners. Its primary purpose is to sponsor and produce debates for the United States presidential and vice presidential candidates and to undertake research and educational activities relating to the debates. The organization, which is a nonprofit, nonpartisan, 501(c)(3) corporation, sponsored all the presidential debates in 1988, 1992, 1996, 2000, and 2004.

Sunday, September 21, 2008

Local file-sharing drastically cuts network load

P4P System for Efficient Internet Usage

Data distribution under traditional, P2P and P4P architecture. (Courtesy of Doug Pasko and Laird Popkin)
The 160-mile download diet: Local file-sharing drastically cuts network load

Ever since Bram Cohen invented BitTorrent, Web traffic has never been the same. Whether that's a good thing or a bad thing, however, is a matter of debate.
Peer-to-peer networking, or P2P, has become the method of choice for sharing music and videos. While initially used to share pirated material, the system is now used by NBC, BBC and others to deliver legal video content and by Hollywood studios to distribute movies online. Experts estimate that peer-to-peer systems generate 50 to 80 percent of all Internet traffic. Most predict that number will keep going up.

Tensions remain, however, between users of bandwidth-hungry peer-to-peer users and struggling Internet service providers.

To ease this tension, researchers at the University of Washington and Yale University propose a neighborly approach to file swapping, sharing preferentially with nearby computers. This would allow peer-to-peer traffic to continue growing without clogging up the Internet's major arteries, and could provide a basis for the future of peer-to-peer systems. A paper on the new system, known as P4P, will be presented this week at the Association for Computing Machinery's Special Interest Group on Data Communications meeting in Seattle.

"Initial tests have shown that network load could be reduced by a factor of five or more without compromising network performance," said co-author Arvind Krishnamurthy, a UW research assistant professor of computer science and engineering. "At the same time, speeds are increased by about 20 percent."

"We think we have one of the most extensible, rigorous architectures for making these applications run more efficiently," said co-author Richard Yang, an associate professor of computer science at Yale.

The project has attracted interest from companies. A working group formed last year to explore P4P and now includes more than 80 members, including representatives from all the major U.S. Internet service providers and many companies that supply content.

"The project seems to have a momentum of its own," Krishnamurthy said. The name P4P was chosen, he said, to convey the idea that this is a next-generation P2P system.

In typical Web traffic, the end points are fixed. For example, information travels from a server at Amazon.com to a computer screen in a Seattle home and the Internet service provider chooses how to route traffic between those two fixed end points. But with peer-to-peer file-sharing, many choices exist for the data source because thousands of users are simultaneously swapping pieces of a larger file. Right now the choice of P2P source is random: A college student in a dorm room would be as likely to download a piece of a file from someone in Japan as from a classmate down the hall.

"We realized that P2P networks were not taking advantage of the flexibility that exists," Yang said.

For the networks considered in the field tests, researchers calculated that the average peer-to-peer data packet currently travels 1,000 miles and takes 5.5 metro-hops, which are connections through major hubs. With the new system, data traveled 160 miles on average and, more importantly, made just 0.89 metro-hops, dramatically reducing Web traffic on arteries between cities where bottlenecks are most likely to occur.

Tests also showed that right now only 6 percent of file-sharing is done locally. With the tweaking provided by P4P algorithms, local file sharing increased almost tenfold, to 58 percent.

The P4P system requires Internet service providers to provide a number that acts as a weighting factor for network routing, so cooperation between the Internet service provider and the file-sharing host is necessary. But key to the system is that it does not force companies to disclose information about how they route Internet traffic. ###

Other authors of the paper are Haiyong Xie, a Yale graduate now working at Akamai Technologies Inc., Yanbin Liu, at IBM's Thomas J. Watson Research Center, and Avi Silberschatz, professor and chair of computer science at Yale. The UW research was supported by the National Science Foundation.

For more information, contact Krishnamurthy at (206) 616-0957 or arvind@cs.washington.edu and Yang at (203) 432-6400 or yry@cs.yale.edu.

The presentation was Thursday, Aug. 21, 1:45 p.m. at the Grand Hyatt Regency in Seattle. For more information on the presentation, see hccr.sigcomm.org/online/.

For more information on P4P, see Yale press release at opa.yale.edu/news/.

Contact: Hannah Hickey hickeyh@u.washington.edu 206-543-2580 University of Washington

Saturday, September 20, 2008

Freedom Calendar 09/20/08 - 09/27/08

September 20, 1876, Former state Attorney General Robert Ingersoll (R-IL) tells veterans: “Every man that loved slavery better than liberty was a Democrat… I am a Republican because it is the only free party that ever existed”.

September 21, 1872, Nominated by African-American U.S. Rep. Robert B. Elliott (R-SC), South Carolina’s James Conyers becomes first African-American midshipman at U.S. Naval Academy.

September 22, 1862, Republican President Abraham Lincoln issues Emancipation Proclamation.

September 23, 1816, Birth of U.S. Rep. and Secretary of State Elihu Washburne (R-IL), a founder of the Republican Party and early advocate for the civil rights of African-Americans.

September 24, 1957, Sparking criticism from Democrats such as Senators John Kennedy and Lyndon Johnson, President Dwight Eisenhower deploys U.S. troops to Little Rock, AR to force Democrat Governor Orval Faubus to integrate public schools.

September 25, 1981, Republican Sandra Day O’ Connor, nominated by President Ronald Reagan, is sworn in as first woman to serve on U.S. Supreme Court.

September 26, 1860, The Wide-Awakes, Republican campaign group, serenades abolitionists and suffragists Susan B. Anthony and Elizabeth Cady Stanton to thank them for their support.

September 27, 1804, Birth of anti-slavery U.S. Rep. and Lt. Governor John Goodrich, first Chairman of Massachusetts Republican Party.

"We believe that everyone deserves a chance, that everyone has value, that no insignificant person was ever born. We believe that all are diminished when any are hopeless. We are one people, committed to building a single nation of justice and opportunity.”

George W. Bush 43rd President of the United States

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Presidential Podcast 09/20/08

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Presidential Podcast 09/20/08 en Español. Subscribe to the Republican National Convention Blog Podcast Subscribe to Our Podcast feed or online Click here to Subscribe to Our Republican National Convention Blog Podcast Channel with Podnova podnova Podcast Channel and receive the weekly Presidential Radio Address in English and Spanish with select State Department Briefings. Featuring full audio and text transcripts, More content Sources added often so stay tuned.

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Bush radio address 09/20/08 full audio, text transcript

President George W. Bush calls troops from his ranch in Crawford, Texas, Thanksgiving Day, Thursday, Nov. 24, 2005. White House photo by Eric Draper.bush radio address 09/20/08 full audio, text transcript. President's Radio Address en Español In Focus: Economy
Subscribe to the Republican National Convention Blog Podcast Subscribe to Our Podcast feed or online Click here to Subscribe to Republican National Convention Blog's PODCAST with podnova podnova Podcast Channel and receive the weekly Presidential Radio Address in English and Spanish with select State Department Briefings. Featuring real audio and full text transcripts, More content Sources added often so stay tuned.

THE PRESIDENT: Good morning. This is a pivotal moment for America's economy. Problems that originated in the credit markets and first showed up in the area of subprime mortgages have spread throughout our financial system. This has led to an erosion of confidence that has frozen many financial transactions, including loans to consumers and to businesses seeking to expand and create jobs.

As a result, the government is acting to protect our Nation's economic health from serious risk. Our free enterprise system rests on the conviction that the Federal government should intervene in the marketplace only when necessary. Given the precarious state of our financial markets and their vital importance to the daily lives of the American people, government intervention is not only warranted, it is essential.

In recent weeks the Federal government has taken a series of targeted measures designed primarily to stop the problems of individual firms from spreading more broadly. But more action is needed. We must address the root cause behind much of the instability in our markets. America's economy is facing unprecedented challenges, and we're responding with unprecedented action.

My Administration is working with Congress on legislation which will approve the Federal government's purchase of illiquid assets, such as troubled mortgages, from banks and other financial institutions. This decisive step will address underlying problems in our financial system. And it will allow financial institutions to resume lending and get our financial system moving again.

The Department of the Treasury is also acting to restore confidence in a key element of America's financial system, by offering government insurance for money market mutual funds. For every dollar you have invested in an insured fund, you'll be able to take a dollar out.

The Federal Reserve is also providing more liquidity to money market mutual funds, which will help ease pressure on our financial markets.

The Securities and Exchange Commission has issued new rules temporarily suspending the practice of short-selling on the stocks of financial institutions. This is intended to prevent investors from intentionally driving down particular stocks for their own personal gain.

Finally, when we get past the immediate challenges, my Administration looks forward to working with Congress on measures to bring greater long-term transparency and reliability to the financial system.

These measures require us to put a significant amount of taxpayer dollars on the line. But I'm convinced that this bold approach will cost American families far less than the alternative. Further stress on our financial markets would cause massive job losses, devastate retirement accounts, further erode housing values, and dry up new loans for homes, cars, and college tuitions.

In this difficult time, I know many Americans listening may be wondering about the security of your finances. Through the FDIC, every savings account, checking account, and certificate of deposit is insured by the Federal government for up to $100,000. The FDIC has been in existence for 75 years, and no one has ever lost a penny on an insured deposit. And this will not change.

In the long term, Americans can have reason to be confident in our economic strength. America has the most talented, productive, and entrepreneurial workers in the world. This country is the best place in the world to invest and do business. And as we've seen repeatedly over the past eight years, we have a flexible and resilient system that absorbs challenges, makes corrections, and bounces back.

We will weather this challenge too -- and we will do it together. This is not a time for partisanship. I'll work with Democrats and Republicans alike to steer our economy through these difficult times and back to the path of long-term growth. Thank you for listening.

END

For Immediate Release. Office of the Press Secretary. September 20, 2008

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Discurso Radial del Presidente a la Nación 09/20/08

Presidente George W. Bush llama a tropas de su rancho en Crawford, Tejas, día de Thanksgiving, jueves, de noviembre el 24 de 2005.  Foto blanca de la casa de Eric Draper.forre el audio de la dirección de radio 09/20/08 por completo, transcripción del texto. (nota de los redactores: ninguna lengua española mp3 lanzó esta semana, apesadumbrada) PODCAST
Chascar aquí para suscribir a nuestro canal republicano de Blog Podcast de la convención nacional con Odeo Suscribir a nuestro canal de Podcast de Odeo o del podnova Chascar aquí para suscribir a nuestro canal republicano de Blog Podcast de la convención nacional con Podnova y recibir la dirección de radio presidencial semanal en inglés y español con informes selectos del departamento del estado. Ofreciendo transcripciones audio y con texto completo verdaderas, más fuentes contentas agregaron a menudo así que la estancia templó.

Buenos Días.

Éste es un momento importante para la economía de Estados Unidos. Problemas que se originaron en el mercado de crédito -y se presentaron inicialmente en el sector de préstamos hipotecarios no preferenciales- se han propagado por todo nuestro sistema financiero. Esto ha llevado a una pérdida de confianza que ha congelado muchas transacciones financieras, entre ellas los préstamos a consumidores y a empresas con planes de expandirse y generar empleo. Como resultado, el gobierno está tomando medidas ahora para proteger de serios peligros el bienestar económico de nuestra nación.

Nuestro sistema de libre empresa se basa en la convicción de que el gobierno federal debe intervenir en el mercado sólo cuando es necesario. Dada la situación precaria de nuestro mercado financiero -y su vital importancia en la vida cotidiana del pueblo estadounidense- la intervención del gobierno no sólo se justifica, sino que es esencial.

En semanas recientes, el gobierno federal ha tomado una serie de medidas específicas, concebidas principalmente para evitar que los problemas de firmas individuales se propaguen más extensamente. Pero es necesario hacer más. Debemos abordar la causa de gran parte de la inestabilidad de nuestro mercado. La economía de Estados Unidos enfrenta desafíos sin precedente, y estamos respondiendo con medidas sin precedente.

Mi gobierno colabora con el Congreso en legislación que aprobará que el gobierno federal les compre a bancos y otras instituciones financieras activos ilíquidos, como malos préstamos hipotecarios. Este paso decisivo abordará los problemas subyacentes de nuestro sistema financiero. Además, permitirá que las instituciones financieras reanuden sus préstamos y que nuestro sistema financiero se vuelva a poner en marcha.

El Departamento del Tesoro también está tomando medidas para reestablecer la confianza en un elemento clave del sistema financiero de Estados Unidos al ofrecer seguro gubernamental para los fondos mutuos de inversión en el mercado de dinero. Por cada dólar que tengan ustedes invertido en un fondo asegurado, podrán sacar un dólar.

La Reserva Federal también está aportando liquidez adicional a los fondos mutuos de inversión en el mercado de dinero, lo que ayudará a disminuir la presión en nuestro mercado financiero.

La Comisión de Valores y Cambio Bursátil ha emitido nuevas normas temporales que suspenden la práctica de vender al descubierto acciones de instituciones financieras. Esto tiene como propósito evitar que los inversionistas reduzcan el valor de ciertas acciones para lucro personal.

Finalmente, mi gobierno está deseoso de, una vez superados los desafíos inmediatos, cooperar con el Congreso en medidas para darle al sistema financiero mayor transparencia y fiabilidad a largo plazo.

Estas medidas requieren que arriesguemos una cantidad significativa del dinero de los contribuyentes. Pero estoy convencido de que esta audaz estrategia le costará a las familias estadounidenses mucho menos que la alternativa. Presión adicional en nuestros mercados financieros causaría la pérdida masiva de empleos... devastaría las cuentas para la jubilación... devaluaría más el sector de vivienda... y disminuiría la disponibilidad de préstamos nuevos para casas, autos y matrículas universitarias.

En este difícil momento, sé que muchos estadounidenses que me escuchan se preguntan sobre la seguridad de sus finanzas. Por medio de la Corporación de Seguro Federal para Depósitos, todos los certificados de depósito, cuentas de ahorro y cuentas corrientes están asegurados por el gobierno federal hasta 100,000 dólares. El FDIC existe desde hace 75 años, y nadie jamás ha perdido un centavo de un depósito asegurado, y esto no cambiará.

A largo plazo, los estadounidenses, con buen motivo, pueden tener seguridad en nuestra solidez económica. Estados Unidos cuenta con los trabajadores más hábiles, productivos y emprendedores del mundo. Este país es el mejor lugar del mundo para invertir y hacer negocios. Y como hemos visto repetidamente durante los últimos ocho años, tenemos un sistema flexible y resistente que absorbe desafíos, hace correcciones y se recupera.

También resistiremos este desafío y lo haremos juntos. No es momento de partidismo. Trabajaré, tanto con demócratas como republicanos, para dirigir nuestra economía durante este momento difícil y retomar el camino hacia el crecimiento a largo plazo. Gracias por escuchar.

Para su publicación inmediata. Oficina del Secretario de Prensa. 20 de septiembre de 2008

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Friday, September 19, 2008

Statement by Secretary Henry M. Paulson, Jr. on Comprehensive Approach to Market Developments VIDEO

Treasury Secretary Henry M. Paulson, Jr.Statement by Secretary Henry M. Paulson, Jr. on Comprehensive Approach to Market Developments FULL STREAMING VIDEO September 19, 2008 hp-1149
Washington, DC-- Last night, Federal Reserve Chairman Ben Bernanke, SEC Chairman Chris Cox and I had a lengthy and productive working session with Congressional leaders. We began a substantive discussion on the need for a comprehensive approach to relieving the stresses on our financial institutions and markets.

We have acted on a case-by-case basis in recent weeks, addressing problems at Fannie Mae and Freddie Mac, working with market participants to prepare for the failure of Lehman Brothers, and lending to AIG so it can sell some of its assets in an orderly manner. And this morning we've taken a number of powerful tactical steps to increase confidence in the system, including the establishment of a temporary guaranty program for the U.S. money market mutual fund industry.

Despite these steps, more is needed. We must now take further, decisive action to fundamentally and comprehensively address the root cause of our financial system's stresses.

The underlying weakness in our financial system today is the illiquid mortgage assets that have lost value as the housing correction has proceeded. These illiquid assets are choking off the flow of credit that is so vitally important to our economy. When the financial system works as it should, money and capital flow to and from households and businesses to pay for home loans, school loans and investments that create jobs. As illiquid mortgage assets block the system, the clogging of our financial markets has the potential to have significant effects on our financial system and our economy.

As we all know, lax lending practices earlier this decade led to irresponsible lending and irresponsible borrowing. This simply put too many families into mortgages they could not afford. We are seeing the impact on homeowners and neighborhoods, with 5 million homeowners now delinquent or in foreclosure. What began as a sub-prime lending problem has spread to other, less-risky mortgages, and contributed to excess home inventories that have pushed down home prices for responsible homeowners.

A similar scenario is playing out among the lenders who made those mortgages, the securitizers who bought, repackaged and resold them, and the investors who bought them. These troubled loans are now parked, or frozen, on the balance sheets of banks and other financial institutions, preventing them from financing productive loans. The inability to determine their worth has fostered uncertainty about mortgage assets, and even about the financial condition of the institutions that own them. The normal buying and selling of nearly all types of mortgage assets has become challenged.

These illiquid assets are clogging up our financial system, and undermining the strength of our otherwise sound financial institutions. As a result, Americans' personal savings are threatened, and the ability of consumers and businesses to borrow and finance spending, investment, and job creation has been disrupted.

To restore confidence in our markets and our financial institutions, so they can fuel continued growth and prosperity, we must address the underlying problem.

The federal government must implement a program to remove these illiquid assets that are weighing down our financial institutions and threatening our economy. This troubled asset relief program must be properly designed and sufficiently large to have maximum impact, while including features that protect the taxpayer to the maximum extent possible. The ultimate taxpayer protection will be the stability this troubled asset relief program provides to our financial system, even as it will involve a significant investment of taxpayer dollars. I am convinced that this bold approach will cost American families far less than the alternative – a continuing series of financial institution failures and frozen credit markets unable to fund economic expansion.

I believe many Members of Congress share my conviction. I will spend the weekend working with members of Congress of both parties to examine approaches to alleviate the pressure of these bad loans on our system, so credit can flow once again to American consumers and companies. Our economic health requires that we work together for prompt, bipartisan action.

As we work with the Congress to pass this legislation over the next week, other immediate actions will provide relief.

First, to provide critical additional funding to our mortgage markets, the GSEs Fannie Mae and Freddie Mac will increase their purchases of mortgage-backed securities (MBS). These two enterprises must carry out their mission to support the mortgage market.

Second, to increase the availability of capital for new home loans, Treasury will expand the MBS purchase program we announced earlier this month. This will complement the capital provided by the GSEs and will help facilitate mortgage availability and affordability.

These two steps will provide some initial support to mortgage assets, but they are not enough. Many of the illiquid assets clogging our system today do not meet the regulatory requirements to be eligible for purchase by the GSEs or by the Treasury program.

I look forward to working with Congress to pass necessary legislation to remove these troubled assets from our financial system. When we get through this difficult period, which we will, our next task must be to improve the financial regulatory structure so that these past excesses do not recur. This crisis demonstrates in vivid terms that our financial regulatory structure is sub-optimal, duplicative and outdated. I have put forward my ideas for a modernized financial oversight structure that matches our modern economy, and more closely links the regulatory structure to the reasons why we regulate. That is a critical debate for another day.

Right now, our focus is restoring the strength of our financial system so it can again finance economic growth. The financial security of all Americans – their retirement savings, their home values, their ability to borrow for college, and the opportunities for more and higher-paying jobs – depends on our ability to restore our financial institutions to a sound footing. -30-

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Securities and Exchange Commission New Short Selling Rules

The hired assassin : the Philippine Tariff bill was killed in the Senate February 26, 1906

The hired assassin : the Philippine Tariff bill was killed in the Senate February 26, 1906. Published as cover of: Collier's weekly, vol. 36 (March 24, 1906).
UNITED STATES OF AMERICA before the SECURITIES AND EXCHANGE COMMISSION SECURITIES EXCHANGE ACT OF 1934 RELEASE NO. 34-58572/ September 17, 2008

EMERGENCY ORDER PURSUANT TO SECTION 12(k)(2) OF THE SECURITIES EXCHANGE ACT OF 1934 TAKING TEMPORARY ACTION TO RESPOND TO MARKET DEVELOPMENTS New Short Selling Rules in PDF format
The Commission continues to be concerned that there is a substantial threat of sudden and excessive fluctuations of securities prices and disruption in the functioning of the securities markets that could threaten fair and orderly markets. As evidenced by our recent publication of an emergency order under Section 12(k) of the Securities Exchange Act of 1934 (1. the “July Emergency Order”), we are concerned about the possible unnecessary or artificial price movements based on unfounded rumors regarding the stability of financial institutions and other issuers exacerbated by “naked” short selling. Our concerns, however, are no longer limited to just the financial institutions that were the subject of the July Emergency Order. In addition, we have become concerned that some persons may take advantage of issuers that have become temporarily weakened by current market conditions to engage in inappropriate short selling in the securities of such issuers.

Given the importance of confidence in our financial markets as a whole, we have become concerned about sudden and unexplained declines in the prices of securities. Such price declines can give rise to questions about the underlying financial condition of an issuer, which in turn can create a crisis of confidence without a fundamental (See Exchange Act Release No. 58166 (July 15, 2008).) underlying basis. This crisis of confidence can impair the liquidity and ultimate viability of an issuer, with potentially broad market consequences.

As a result of these recent developments, the Commission concluded that there continues to exist a substantial threat of sudden and excessive fluctuations of securities prices generally and disruption in the functioning of the securities markets that could threaten fair and orderly markets. Based on this conclusion, the Commission is exercising its powers under Section 12(k)(2) of the Securities Exchange Act of 1934.2 Pursuant to Section 12(k)(2), in appropriate circumstances the Commission may issue summarily an order to alter, supplement, suspend, or impose requirements or restrictions with respect to matters or actions subject to regulation by the Commission.

We have concluded that it is necessary to impose enhanced delivery requirements on sales of all equity securities, by adding and making immediately effective a temporary rule to Regulation SHO, Rule 204T. The temporary rule imposes a penalty on any participant3 of a registered clearing agency,4 and any broker-dealer from which it receives trades for clearance and settlement, for having a fail to deliver position at a registered clearing agency in any equity security. In addition, we have concluded it is necessary to make immediately effective amendments to Rule 203(b)(3) of Regulation SHO that eliminate the options market maker exception from Regulation SHO’s close-out
(2 This finding of an “emergency” is solely for purposes of Section 12(k)(2) of the Exchange Act and is not intended to have any other effect or meaning or to confer any right or impose any obligation other than set forth in this Order.) (3 The term “participant” has the same meaning as in section 3(a)(24) of the Exchange Act. See 15 U.S.C. 78c(a)(24).)(4 The term “registered clearing agency” means a clearing agency, as defined in section 3(a)(23)(A) of the Exchange Act, that is registered as such pursuant to section 17A of the Exchange Act. See 15 U.S.C. 78c(a)(23)(A) and 78q-1, respectively.) requirement. We are also making immediately effective Rule 10b-21, a “naked” short selling antifraud rule.5 We intend these enhanced delivery requirements and the antifraud rule to impose powerful disincentives to those who might otherwise exacerbate artificial price movements through “naked” short selling.

In addition, in these unusual and extraordinary circumstances, we believe such requirements are in the public interest and for the protection of investors to maintain fair and orderly securities markets, and to prevent substantial disruption in the securities markets.

This emergency requirement should significantly reduce any possibility that “naked” short selling may contribute to the disruption of markets in these securities. We described in the releases in which we proposed and adopted Regulation SHO the bases for the current delivery requirements Regulation SHO imposes. We believe, however, that the unusual circumstances we now confront require the enhanced requirements we are imposing today.

IT IS ORDERED that, pursuant to our Section 12(k)(2) powers, we are adding § 242.204T to read as follows:
§ 242.204T Short Sales.
(a) A participant of a registered clearing agency must deliver securities to a registered clearing agency for clearance and settlement on a long or short sale in any equity security by settlement date, or if a participant of a registered clearing agency has a
(5 Rule 204T, as set forth in this Order, applies only to fails to deliver resulting from trades that occur after this Order becomes effective. Rule 203(b)(3) of Regulation SHO, as amended by this Order, continues to apply to fails to deliver that occurred prior to the Order becoming effective. For example, if a participant has a fail to deliver position in a threshold security that has persisted for six consecutive settlement days prior to the effective date of this Order and the fail continues to persist until the thirteenth settlement day, the participant must still close out its position pursuant to Rule 203(b)(3).) fail to deliver position at a registered clearing agency in any equity security for a long or short sale transaction in that equity security, the participant shall, by no later than the beginning of regular trading hours on the settlement day following the settlement date, immediately close out the fail to deliver position by borrowing or purchasing securities of like kind and quantity; Provided, however:
(1)
If a participant of a registered clearing agency has a fail to deliver position at a registered clearing agency in any equity security and the participant can demonstrate on its books and records that such fail to deliver position resulted from a long sale, the participant shall by no later than the beginning of regular trading hours on the third consecutive settlement day following the settlement date, immediately close out the fail to deliver position by purchasing securities of like kind and quantity; or
(2)
If a participant of a registered clearing agency has a fail to deliver position at a registered clearing agency in any equity security sold pursuant to § 230.144 of this chapter for thirty-five consecutive settlement days after the settlement date for a sale in that equity security, the participant shall, by no later than the beginning of regular trading hours on the thirty-sixth consecutive settlement day following the settlement date for the transaction, immediately close out the fail to deliver position by purchasing securities of like kind and quantity;
(b)
If a participant of a registered clearing agency has a fail to deliver position in any equity security at a registered clearing agency and does not close out such fail to deliver position in accordance with the requirements of paragraph (a) of this section, the participant and any broker or dealer from which it receives trades for clearance and settlement, including any market maker that would otherwise be entitled to rely on the exception provided in § 242.203(b)(2)(iii), may not accept a short sale order in the equity security from another person, or effect a short sale in the equity security for its own account, to the extent that the broker or dealer submits its short sales to that participant for clearance and settlement, without first borrowing the security, or entering into a bona-fide arrangement to borrow the security, until the participant closes out the fail to deliver position by purchasing securities of like kind and quantity and that purchase has cleared and settled at a registered clearing agency;
(c)
The participant must notify any broker or dealer from which it receives trades for clearance and settlement, including any market maker that would otherwise be entitled to rely on the exception provided in § 242.203(b)(2)(iii):
(1)
That the participant has a fail to deliver position in an equity security at a registered clearing agency that has not been closed out in accordance with the requirements of paragraph (a) of this section; and
(2)
When the purchase that the participant has made to close out the fail to deliver position has cleared and settled at a registered clearing agency; and
(d) Definitions: (1) For purposes of this section, the term settlement date shall mean the business day on which delivery of a security and payment of money is to be made through the facilities of a registered clearing agency in connection with the sale of a security.
(2) For purposes of this section, the term regular trading hours has the same meaning as in Rule 600(b)(64) of Regulation NMS (17 CFR 242.600(b)(64).

IT IS FURTHER ORDERED that, pursuant to our Section 12(k)(2) powers, § 242.203(b)(3)(iii) of Regulation SHO is amended by revising paragraphs (b)(3)(iii) and (b)(3)(v) to read as follows:
(iii) Provided, however, that a participant of a registered clearing agency that has a fail to deliver position at a registered clearing agency in a threshold security on the effective date of this amendment and which, prior to the effective date of this amendment, had been previously excepted from the close-out requirement in paragraph (b)(3) of this section (i.e., because the participant of a registered clearing agency had a fail to deliver position in the threshold security that is attributed to short sales effected by a registered options market maker to establish or maintain a hedge on options positions that were created before the security became a threshold security), shall immediately close out that fail to deliver position, including any adjustments to the fail to deliver position, within 35 consecutive settlement days of the effective date of this amendment by purchasing securities of like kind and quantity;
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(v) If a participant of a registered clearing agency entitled to rely on the 35 consecutive settlement day close-out requirement contained in paragraph (b)(3)(i), (b)(3)(ii), or (b)(3)(iii) of this section has a fail to deliver position at a registered clearing agency in the threshold security for 35 consecutive settlement days from the effective date of the amendment, the participant and any broker or dealer for which it clears transactions, including any market maker, that would otherwise be entitled to rely on the exception provided in paragraph (b)(2)(iii) of this section, may not accept a short sale order in the threshold security from another person, or effect a short sale in the threshold security for its own account, without borrowing the security or entering into a bona-fide arrangement to borrow the security, until the participant closes out the fail to deliver position by purchasing securities of like kind and quantity;

IT IS FURTHER ORDERED that, pursuant to our Section 12(k)(2) powers, we are adding § 240.10b-21 to read as follows: § 240.10b-21 Deception in connection with a seller’s ability or intent to deliver securities on the date delivery is due. PRELIMINARY NOTE to rule 10b-21: This rule is not intended to limit, or restrict, the applicability of the general antifraud provisions of the federal securities laws, such as section 10(b) of the Act and rule 10b-5 thereunder.

It shall also constitute a “manipulative or deceptive device or contrivance” as used in section 10(b) of this Act for any person to submit an order to sell an equity security if such person deceives a broker or dealer, a participant of a registered clearing agency, or a purchaser about its intention or ability to deliver the security on or before the settlement date, and such person fails to deliver the security on or before the settlement date. For purposes of this section, settlement date is as defined in § 242.204T of this chapter.

This Order shall be effective at 12:01 a.m. EDT on September 18, 2008, and shall terminate at 11:59 p.m. on October 1, 2008 unless further extended by the Commission.

By the Commission. Florence E. Harmon Acting Secretary

Thursday, September 18, 2008

Securities and Exchange Commission (SEC) Christopher Cox John Mc Cain VIDEO



John McCain Rally Cedar Rapids, IA 09/18/08. TRANSCRIPT: The Chairman of the SEC serves at the appointment of the President and, in my view, has betrayed the public's trust. If I were President today, I would fire him. From: IssueAlliance
Statement From SEC Chairman Christopher Cox FOR IMMEDIATE RELEASE 2008-210

Washington, D.C., Sept. 18, 2008 — Securities and Exchange Commission Chairman Christopher Cox today made the following statement:
"While I have great respect for Senator McCain, we have sometimes disagreed, and this is one such occasion. The SEC has made plain that we have zero tolerance for naked short selling. In this market crisis, the men and women of the SEC have responded valiantly as they always do—with the utmost dedication and professionalism. Addressing the extraordinary challenges facing our markets, the independent and bipartisan SEC has taken the following decisive actions:
  • We adopted a package of measures to strengthen investor protections against naked short selling, including rules requiring a hard T+3 close-out, eliminating the options market maker exception of Regulation SHO and expressly targeting fraud in short selling transactions.
  • We issued an emergency order to enhance protections against naked short selling in the securities of primary dealers, Fannie Mae, and Freddie Mac.
  • We announced emergency plans for a rule to ensure public disclosure of short selling positions of hedge funds and other institutional money managers.
  • We have undertaken sweeping enforcement measures against market manipulation.
  • We provided guidance to banks about how to account for credit support of money market funds.
  • We've written rules to strengthen the regulation of credit rating agencies, and performed examinations that have led to new rules to reduce rating agency conflicts-of-interest.
  • We brought a landmark enforcement action against a trader who spread false rumors designed to drive down the price of stock.
  • We have initiated exams of the effectiveness of broker-dealers' controls to prevent the spread of false information intended to manipulate securities prices.
  • Our Enforcement Division announced what will be the largest settlements in the history of the SEC for investors in auction rate securities who bought auction rate securities from Merrill Lynch, Wachovia, UBS and Citigroup.
  • We entered into a Memorandum of Understanding with the Federal Reserve, to make sure key federal financial regulators share information and coordinate regulatory activities in important areas of common interest.
"There is much more work to be done, and the current crisis is presenting new challenges on an hourly basis. What America and the world needs now is steadiness and reduction of uncertainty. History will judge the quality of our response to this economic crisis, but now is not the time for those of us in the trenches to be distracted by the ebb and flow of the current election campaign. And it is precisely the wrong moment for a change in leadership that inevitably would disrupt the work of the SEC at just the wrong time. I have long made clear my intention to leave the SEC after the end of this Administration. The next President will have an opportunity to look at the major structural questions so important to the regulation and oversight of our financial markets.

"I very much appreciate the strong and immediate support of the President. As someone who has been in public life for over 20 years, I know as well as anyone that occasionally this sort of thing can come with the territory. The best response to political jabs like this is simply to put your head down and not lose a step doing the best job you can possibly do on behalf of those you serve. For my part, I plan to do just that. I leave the political campaigns to pursue their own course." # # #

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Wednesday, September 17, 2008

the Second Amendment Enforcement Act

Currier & Ives--Minute-men of the revolution

Currier & Ives--Minute-men of the revolution
Statement on the Second Amendment Enforcement Act The President strongly supports the Second Amendment Enforcement Act, which the House today passed with broad bipartisan support. Congress's proposal guarantees the Constitutional rights of law-abiding individual Americans living in the District of Columbia to keep and bear arms.
The President wants to sign the bill this year and urges the Senate to take action on the House-passed bill as quickly as possible to ensure that the residents of the District are able to exercise their Second Amendment rights in a robust and meaningful way. # # #

For Immediate Release Office of the Press Secretary September 17, 2008

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Secretary Henry M. Paulson, Jr. Federal Reserve American International Group (AIG)

Press Briefing by Dana Perino and Secretary of the Treasury Henry Paulson VIDEO PODCAST

Press Briefing by Dana Perino and Secretary of the Treasury Henry Paulson VIDEO PODCAST
Statement by Secretary Henry M. Paulson, Jr. on Federal Reserve Actions Surrounding AIG September 16, 2008 hp-1143

Washington, DC-- Treasury issued the following statement by Secretary Henry M. Paulson, Jr. on Federal Reserve actions surrounding American International Group:
These are challenging times for our financial markets. We are working closely with the Federal Reserve, the SEC and other regulators to enhance the stability and orderliness of our financial markets and minimize the disruption to our economy. I support the steps taken by the Federal Reserve tonight to assist AIG in continuing to meet its obligations, mitigate broader disruptions and at the same time protect the taxpayers. -30-

FULL HISTORY: American International Group, Inc. (AIG) (NYSE: AIG)

SOURCE: United States - Department of The Treasury

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Federal Reserve Board, Treasury Department, authorizes Federal Reserve Bank to lend $85 billion to American International Group (AIG)

Federal Reserve Building Washington DCFederal Reserve Board, with full support of the Treasury Department, authorizes the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG) Release Date: September 16, 2008 For release at 9:00 p.m. EDT.
The Federal Reserve Board on Tuesday, with the full support of the Treasury Department, authorized the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG) under section 13(3) of the Federal Reserve Act. The secured loan has terms and conditions designed to protect the interests of the U.S. government and taxpayers.

The Board determined that, in current circumstances, a disorderly failure of AIG could add to already significant levels of financial market fragility and lead to substantially higher borrowing costs, reduced household wealth, and materially weaker economic performance.

The purpose of this liquidity facility is to assist AIG in meeting its obligations as they come due. This loan will facilitate a process under which AIG will sell certain of its businesses in an orderly manner, with the least possible disruption to the overall economy.

The AIG facility has a 24-month term. Interest will accrue on the outstanding balance at a rate of three-month Libor plus 850 basis points. AIG will be permitted to draw up to $85 billion under the facility.

The interests of taxpayers are protected by key terms of the loan. The loan is collateralized by all the assets of AIG, and of its primary non-regulated subsidiaries. These assets include the stock of substantially all of the regulated subsidiaries. The loan is expected to be repaid from the proceeds of the sale of the firm’s assets. The U.S. government will receive a 79.9 percent equity interest in AIG and has the right to veto the payment of dividends to common and preferred shareholders.

FULL HISTORY: American International Group, Inc. (AIG) (NYSE: AIG)

SOURCE: Board of Governors of the Federal Reserve System

Tuesday, September 16, 2008

American International Group, Inc. (AIG) (NYSE: AIG)

UPDATE: American International Group, Inc. (AIG) (NYSE: AIG) - Federal Reserve Board, with full support of the Treasury Department, authorizes the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG)

Secretary Henry M. Paulson, Jr. Federal Reserve American International Group (AIG) - Statement by Secretary Henry M. Paulson, Jr. on Federal Reserve Actions Surrounding AIG September 16, 2008 hp-1143

FULL HISTORY FOLLOWS:

American International Group, Inc. (AIG) (NYSE: AIG)American International Group, Inc. (AIG) (NYSE: AIG) is a major American insurance corporation based in New York City. The UK headquarters are located on Fenchurch Street in London, England, UK,
Continental Europe operations are based in La Defense, Paris and its Asian HQ is in Hong Kong. According to the 2008 Forbes Global 2000 list, AIG was the 18th-largest company in the world. It became a component of the Dow Jones Industrial Average on April 8, 2004. As of March 16, 2007, AIG Investments, a division of AIG, completed the purchase of 100% of the stock of P&O Ports North America from Dubai-based DP World.

AIG's history dates back to 1919 by when Cornelius Vander Starr established an insurance agency in Shanghai, China. Starr was the first Westerner in Shanghai to sell insurance to the Chinese. After his business became successful in Asia, he expanded to other markets, including Latin America, Europe, and the Middle East.

In 1962, Starr gave management of the company's less than successful U.S. holdings to Maurice R. "Hank" Greenberg, who shifted the company's U.S. focus from personal insurance to high-margin corporate coverage. Greenberg focused on selling the insurance through independent brokers rather than agents to avoid selling insurance at prices which occasionally became too low (to cover the future payouts) given marketplace competition. A company with agents must pay their salary even while selling little to no insurance. Instead, with brokers, AIG could price insurance properly even if it suffered decreased sales of certain products for long lengths of time with very little extra expense. In 1968, Starr named Greenberg his successor. The company went public in 1969. Greenberg resigned as the company's CEO in February 2005 and was succeeded by Martin Sullivan, who began his career at AIG as a clerk in its London office in 1970.

On June 15, 2008, under intense pressure due to financial losses and a falling stock price, Martin Sullivan resigned from the CEO position. He was replaced by Robert B. Willumstad who has served as Chairman of the Board of Directors of the Company since 2006.

In 2008, AIG's share prices fell over 94% to less than $23 in September and the company reported over $13.2 billion in losses in the first six months of that year. As Lehman Brothers suffered a major decline in value and share price, potential investors began to compare the types of securities held by AIG to those held by Lehman, and found that AIG had valued their Alt-A and sub-prime mortgage-backed securities at rates 1.7 to 2.0 times those Lehman had used for what Lehman officials called similar securities. On September 14, 2008, AIG announced it was considering selling its aircraft leasing division, International Lease Finance Corporation, in an effort to raise necessary capital for the company. The Federal Reserve has hired Morgan Stanley to determine if there are systemic risks to a failing AIG, and has asked private entities to supply short-term "bridge" loans to the company. In the meantime, New York regulators have approved AIG for $20 billion in borrowing from its subsidiaries.

AIG owns ILFC (International Lease Finance Corporation), the world's largest aircraft leasing company, with hundreds of aircraft ranging from Airbus A319s to Boeing 747s.

Through various subsidiaries, AIG owns almost 100% of 21st Century Insurance Group.

AIG owns American International Assurance known as AIA. It is an insurance company based in Hong Kong and has offices in the Asia-Pacific region.

AIG directly owns 9.9% of People's Insurance Company of China (PICC). Through three subsidiaries plus its direct ownership, AIG actually owns 19.8 percent.

AIG owns Stowe Mountain Resort. AIG's connection to Stowe started when C.V. Starr, the company's founder, invested in the resort in 1946. It is AIG's sole ski business. At Stoic Old Stowe, a New Era

As of August 2007, AIG Investments (through its member company AIG Capital Partners, Inc.) acquired a 90% stake in Bulgarian Telecommunications Company (BTC) from Viva Ventures Holding GmbH (“Viva”) and certain minority shareholders. Then, in May 2007, Novator and Viva signed an agreement for AIG Investments to acquire Viva’s 65% stake in BTC.

AIG also owns AIG American General, a life insurance company based out of Houston, Texas. American General Life Insurance Company owns Matrix Direct Insurance Services, one of the largest direct marketers of Term Life Insurance which it aquried from Protective Life Corporation in 2007.

AIG owns Ocean Finance a UK based company providing home owner loans, mortgages and remortgages.

AIG also owns a share in London City Airport.

AIG is one of the largest international insurance and financial services organizations in the world, with operations in more than 130 countries and jurisdictions. AIG member companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In the United States, AIG companies are the largest underwriters of commercial and industrial insurance and AIG American General is a top-ranked life insurer.

AIG's global businesses also include financial services, retirement services and asset management. AIG's financial service businesses include aircraft leasing, financial products, trading, market making and financial advice. AIG's growing global consumer finance business is led in the United States by American General Finance. AIG also owns several of the largest U.S. retirement services businesses through AIG Retirement and AIG SunAmerica, and the largest network of independent broker-dealers through AIG Advisor Group; through these subsidiaries AIG runs asset management for the individual and institutional markets, with specialized investment management capabilities in equities, fixed income, alternative investments and real estate.

AIG's common stock is listed on the New York Stock Exchange (NYSE: AIG, as well as stock exchanges in Japan and Ireland (TYO: 8685; ISEQ: AIN). AIG is also the principal sponsor of English football team Manchester United and the Japan Open Tennis Championships.

Subsidiary Holdings:

* AIG American General Life Companies
* AIG Annuity Insurance Company
* AIG UK Limited
* AIG Financial Products Corp.
* AIG Hawaii Insurance Company, Inc.
* AIG Investments
o Utilities, Inc.
* AIG Retirement Services, Inc.
o AIG SunAmerica Life Assurance Company
o The Variable Annuity Life Insurance Company
* Allied World Assurance Company Holdings, Ltd
* American General Finance Corporation
* American Life Insurance Company
* Brazos Capital Management, L.P.
* HSB Group, Inc.
* International Lease Finance Corporation
* Lexington Insurance Company
* SunAmerica Ventures, Inc.
o AIG Financial Advisors
* Transatlantic Holdings, Inc.
o Transatlantic Re (Brasil) Ltda.
o Transatlantic Reinsurance Company
* United Guaranty Corporation

In November 2004, AIG reached US$126 million settlement with the U.S. Securities and Exchange Commission and the Justice Department partly resolving a number of regulatory matters, but the company still must cooperate with investigators continuing to probe the sale of a "non-traditional insurance product.

On June 11, 2008, three stockholders, collectively owning 4% of the outstanding stock of AIG, delivered a letter to the Board of Directors of AIG seeking to oust CEO Martin Sullivan and make certain other management and Board of Directors changes. This letter was the latest volley in what the Wall Street Journal deemed a "public spat" between the Company's Board and management, on the one hand, and its key stockholders, and former CEO Maurice "Hank" Greenberg on the other hand.

In 2006, AIG became main sponsors of Manchester United Football Club. AIG CEO Martin Sullivan said in an interview with Time magazine that they invest millions of dollars into Manchester United not because they want to buy the UK: it was because they want to buy Asia. Manchester United has a huge following in Asia. The deal with Manchester United is said to be worth around £14m a year, the largest shirt sponsorship deal in the English Premier League at this date.

* On October 14, 2004 the New York State Office of Attorney General Eliot Spitzer announced that it had commenced a civil action against Marsh & McLennan Companies for steering clients to preferred insurers with whom the Company maintained lucrative payoff agreements, and for soliciting rigged bids for insurance contracts from the insurers. The Attorney General announced in a release that two AIG executives pleaded guilty to criminal charges in connection with this illegal course of conduct.
* In early May 2005, AIG restates financial statements, and issues a reduction in book value of USD $2.7 billion, a 3.3 percent reduction in net worth.
* On February 9, 2006, AIG and the New York State Attorney General's office agreed to a settlement in which AIG would pay a fine of $1.6 billion.

Board of directors

* Robert Willumstad- Chairman of the Board of Directors and Chief Executive Officer (American International Group)
* Stephen F. Bollenback- Former Co-Chairman and CEO, Hilton Hotels Corporation
* Marshall A. Cohen- Counsel: Cassels Brock & Blackwell
* Martin S. Feldstein- Professor of Economics, Harvard University
* Ellen V. Futter- President, American Museum of National History
* Richard C. Holbrooke- Vice Chairman, Perseus LLC
* George L. Miles- President and Chief Executive Officer, WQED Multimedia
* Morris W. Offit- Chairman, Offit Capital Advisors LLC
* Michael H. Sutton- Consultant
* Frank G. Zarb- Senior Advisor and Managing Director, Hellman and Friedman LLC.
* Stephen L. Hammerman- Retired Vice Chairman, Merril Lynch and Co., Inc.
* Fred H. Langhammer- Chairman, Global Affairs, and former CEO of The Estee Lauder Companies, Inc.
* Virginia M. Rometty- Senior Vice President, Global Business Services, IBM Corporation
* James F. Orr, III- Chairman of the Board of Trustees, The Rockefeller Foundation
* Edmund S.W. Tse- Senior Vice Chairman, Life Insurance, American International Group

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