Thursday, February 19, 2009

True News Seeking FED TARP and Bailout Help

News Blog Seeking
FED TARP and Bailout Help

With a deep sense of grief the owners, writers and production staff of the Citi News Daily Blog, due to the economic crisis currently affecting the media industry, have agreed to allow our blog to be named after a corporate sponsor. True News is in the process of calling Congressman Grayson to contact Citigroup CEO Harry Hanbury about a deal to change the name "True News" to "Citi True News" Daily Blog. We have also contacted Congressman Barney Frank to obtain Treasury Secretary Tim Geithner's permission to use Citi Group TARP funds to sponsor True News. Geithner has already given Frank and Citi the ok to keep the $40 million name sponsorship with the Mets for their new taxpayer subsidized stadium, Citi Field.

We want Citi's CEO to know that True News has been doing the job, in the spirit of Thomas Paine, of informing the pubic about what is really going on. If True News had been around years ago it might have warned the SEC and congress of the dangers of subprime mortgages to your bank Mr. Hanbury – think of it: Thanks to us, your bank could have avoided being nationalized. Your Bank and other Wall Street greed whores destroyed the independent American banking system begun in New York and which ultimately made our city into the greatest in the world.

We want Mr. Geithner to be fully aware of the real public service that True News provides in spoon-feeding stories to the other news media outlets. On Tuesday True News wrote about Ballot Control by Political Party County Leaders in NYC: NY's Falling Voter Participation. Secretary Geithner, lo and behold today both the New York Times and the New York Post had stories about ballot access and the mayor’s race: MAYOR EYES DEM LINE (NYP), In Reversal, Mayor Now Woos Political Parties (Times). We feel that True News did a better job of informing the public of what it needs to know about the mayor's race and ballot access. Only our blog wrote about the dangers to our democracy of political parties with declining memberships being controlled by an inner circle which uses it for personal gain, disconnected and unconcerned about the needs of the voters of their own parties.
If this NY Times column seems like a familiar read Congressman Frank, it's because readers linked to almost the same exact commentary from "True News from" a week before the Times columnist's article appeared. For too long Congressman Frank, bloggers have been treated like second class citizens. This is what they write about us: "What’s cheap is some self-absorbed nitwit sitting in front of a computer in his bathrobe, stealing the facts that some hard-working, low-paid newspaper drone just spent hours collecting." - Ellis Henican, writing about bloggers. Just curious Congressman... What is it called when the opposite happens? Tapping a source? Journalists and bloggers can have a symbiotic relationship. Tell the mainstream media that it is time to quit yer bitchin' and get with the times. Maybe if journalists were to question those in power instead of kissing their asses, there wouldn't be a demand for information from other sources. It was done once upon a time, ya know!

One more thing Congressman Frank, we think it is more in the spirit of the American Constitution and Bill of Rights to use federal funds to bail out True News, whose mission is to keep alive the dream of a free and independent press, than private developer Ratner who wants to use tax-payer money to build a stadium for a basketball team at Atlantic Yards, or the MTA who wants half a billion to build a single train station whose costs have skyrocketed.

To True News' loyal readership we humbly await Citi Group's reply for corporate sponsorship of a name change to CITI NEWS DAILY BLOG helping us to avoid Chapter 11 bankruptcy and the dangers of yet another media company going out of business.

Very Truly Yours,
True News

The City HOMELAND SECURITY CHIEF: NYC A PRIORITY *** TOLL-AND-TAX 'POISON' BEST CURE FOR MTA WOES: RAVITCH *** MTA payouts to litigants up 40% since '04 *** Other hospitals prepare for patient tidal wave from the Times Ledger *** SCA trying to pull a fast one *** Temporary halt to foreclosures urged for NY *** City to help ailing financial services sector *** City Will Help Retrain Laid-Off Wall Streeters *** As 'laissez-faire' fades, Obama turns to mortgages *** Second Verdict Reached In Black Sunday Trial *** Bronx Landlords Guilty in 2 Firefighters’ Deaths *** Developer Says Brooklyn Complex Deal Is Off *** Urban Composting: A New Can of Worms *** Magic Johnson's Greenpoint Condo, The Viridian, Is Bankrupt! ***Landlords in Black Sunday Fire Case Found Guilty *** Owner, manager guilty in Black Sunday trial *** It's time to police the NYPD's school cops - Lewis DN *** French banks may name new managers for Glendale mall *** PolitickerNYLiu: Secret Service Should Investigate N.Y. Post Cartoon

Same Poll Opposite Results

Road to City Hall HIZZONER STUMPED BY SUBWAY DRUNK'S $2M *** Irreplaceable Mike says polls shouldn't get Dave down *** Bloomberg Says Incentives Key To Wall Street Recovery *** Mayor Bloomberg Wants to ‘Retrain’ Wall Streeters *** Candidates Eye Bronx Borough President Vacancy *** Mayor Bloomberg rolled out his official new campaign website *** Mike's reelex plea on Web *** Bloomberg Debuts Campaign Website, Tweets *** PolitickerNY- Bloomberg Gets a Hugo Chavez Question *** PolitickerNY- Post-Carrion: A Family Fight for Bronx Borough President *** Congrats pour in for Bronx Borough President bound for White House *** Reactions Vary as Carrión Eyes White House Post *** Bloomberg makes pitch to re-election vols *** MAYOR EYES DEM LINE (NYP) *** In Reversal, Mayor Now Woos Political Parties (Times) *** Another reason Bloomberg must stay: Hugo! *** Post Cartoon Mixes Dead Chimp With Stimulus Bill *** Atlantic Yards Won't Get Any MTA Stimulus Money *** Atlantic Yards opponents *** Bloomberg (or someone working for him) is Twittering *** PolitickerNY: Diaz for Bronx B.P. Campaign Open Already. PM PolitickerNYWhat to Do With Carrion's Cash? *** Whispers About Pataki For Senate in 2010 *** Thompson Uses Post Cartoon Against Bloomberg *** YR To GOP County Chairs: Take Down The 'For Sale' Sign

SEC Missed Stanford Warning Signs A net capital violation is a major, major, major red flag. Generally when a firm has a net capital violation, it's already on the brink of bankruptcy.

Albany A clear majority of New Yorkers want Albany pols to cut spending before they even think about raising taxes to balance the budget - NYP Ed *** TAKE KNIFE TO STATE BUDGET, NOT TAXPAYERS: POLL *** Paterson may divert health stimulus funds *** Working Families Party puts Smith on the spot *** State Holds Public Hearings On MTA Rescue Plan *** A Visit to Albany's Stimulus War Room *** PolitickerNY- An Odd Couple in Office Shuffling - State Senators Marty Golden, Republican, and Hiram Monserrate, Democrat *** '(G)One New York': Someone Pulls All Senate Videos From Vimeo *** Nation's largest insurer WellPoint, Inc. agrees to $10 million settlement with the state, says Cuomo Paterson Editorial: Paterson's actions are inexcusable - Poughkeepsie Journal *** Editorial: Lousy timing
Gov. Paterson gives himself a headache
- Binghamton Sun Bulletin *** BRING BACK O'BYRNE - NYP Ed *** Paterson trails Cuomo in 2010 *** Editorial: Paterson's actions are inexcusable - Poughkeepsie Journal *** PolitickerNY- Paterson Noncommittal on Post Cartoon *** PolitickerNY: Paterson Will Restore Health Care Spending; Champions Funds for Preventive Care. PM PolitickerNYPaterson Open to Charles O'Byrne's Return *** Judge Wants Spitzer Wiretapes Released *** Spitzer Wiretap Documents to Be Unsealed *** The Assembly car count *** Pataki for Senate? *** Paterson: O'Byrne Deserves 'Second Chance' *** Top Adviser May Rejoin Paterson's Team

President Obama O'S $75B HOUSING BET: MASSIVE BID TO HALT TIDAL WAVE OF FORECLOSURES *** $275 Billion Plan Seeks to Address Crisis in Housing *** Bam unveils plan to help homeowners *** Read Text From The Speech: "This Plan Will Not Save Every Home" *** Short trip, long agenda: Obama darts up to Canada *** Green Inc.: Canada’s Oil Patch and Obama *** White House Vow: Obama Opposes 'Fairness Doctrine'... *** Kansas Governor Seen as Top Choice in Health Post *** Mr. Obama’s Foreclosure Plan (NYT Ed) *** No Bailout for Some Homeowners *** Kansas Governor Sebelius Is Obama's Top Pick For Health Secretary *** Politics: Obama Already Eyeing Re-Election? Stimulus Tour Took Him To New Blue States *** Attorney General: US A "Nation Of Cowards" On Race ***Bam's new Attorney General says US is 'nation of cowards'.

"You know the real Roland," he told the group of politicians and business leaders. "I have done nothing wrong and I have absolutely nothing to hide." Source: Chicago Tribune

Wall Street Mess Poll: Public fears about troubled economy growing *** DRUG MONEY MAY PLAY PART IN BILLIONAIRE CASE *** IMG'S JOCK SHOCK: FIRM MAY HAVE DIRECTED ITS CLIENTS TO STANFORD *** KPMG spinoff tries bankruptcy option *** Fashion Week designers snip costs in recession *** Magic-financed condo goes bankrupt *** Charges Spark Run On Banks; Panicky Depositors Turned Away... *** UPDATE: CA ON THE BRINK... *** Credit-crunched billionaire asks for deposit back -- on world's most expensive house! *** Thousands Fill Manhattan Job Fair *** A Swiss Bank Is Set to Open Its Secret Files *** Modifying Mortgages Can Be Tricky *** DealBook: S.E.C. Commissioner Backs ‘Say on Pay’ *** Troubling Signs Around the Shows : The economy is a phantom guest of Fashion Week *** S.E.C. Fines Didn’t Avert Stanford Group Case *** Bonus Cuts Hurting More Than Top Wall Streeters *** Fed Chief Defends Steps Taken to Contain Crisis *** Hewlett-Packard’s Profit Declines 13% *** G.M. Says New Loan Is Adequate to Save It *** Bankruptcy Could Be More Costly *** Atlantic Yards Won't Get Any MTA Stimulus Money *** UBS to Give Up Clients' Names to U.S. *** Final GOP Senator Will Back California Budget *** GM Abandons Multibrand Strategy *** Saturn will exit from GM's orbit *** Bailed-Out Chase CEO: People Should Pay Mortgages "Even If They're Underwater" *** When Pigs Fly from NY to Washington, or Alan Greenspan Suggests Nationalizing Banks *** Greenspan's Change of Heart *** Mini-Madoff swindled by real Madoff, lied about it to investors *** Analysis: Rescue finally comin' home *** Fed says economy, unemployment will get worse *** Photos: Wall Street's Biggest Losers. PM IT'S HERE: INFLATION TAKES BIGGEST JUMP IN 6 MONTHS... *** TRADERS REVOLT: CNBC HOST CALLS FOR NEW 'TEA PARTY'; CHICAGO FLOOR MOCKS OBAMA PLAN *** Newly Poor Swell Lines at Food Banks

Media Mess CBS CUTS DIVIDEND AS PROFIT FALLS 52% *** RED EYE: CBS slashes dividend as income falls 52%; Broadcaster hit by decline in ad revenue... *** Time Warner Cable taps director to be chairman *** Protest Erupts Around Political Cartoon *** Daly: Post has gotta apologize for chimp toon *** Post's chimp cartoon draws cops' ire *** New Website Could Become Ultimate Phone Book *** 5 Big Papers to Share Articles and Photos *** Building a Home in Late Night’s Shifting Sand *** Yahoo Shows Search Ads With Images and Video *** Playboy Hit by Write-Down *** Struggling Playboy has ear out for deal *** Malone Scoops Up Sirius XM: Liberty Media Investment Blocks Satellite Competitor From Taking Control *** Disney to Slash Theme Park Jobs *** Google amps up for legal battles over patents *** Jolie's tall order in Washington Heights *** The ultra-Orthodox newspaper Hamodia has a Website. PM ANCHORWOMAN DEFENDS: A-ROD LIED TO ME; HOW I GOT SULLY AWAY FROM NBC; 'EVENING NEWS' HISTORY OF BAD RATINGS... *** NY TIMES Stock Now Costs Less Than Sunday Paper... *** Sharpton, Activists Protest NY POST Cartoon... ***Mayor Mike Says Good-Bye to Late Night With Conan O'Brien