₦airaland Forum

Joe Liberman is no Colin Powell

Joe Liberman is an opportunist who dandles with the wind. He exploited Obama's oratory for his Senate re-election campaign when he saw the young Illinois Senator draws crowds. Then leaned Republican because he thought the Republican party has a history of winning Presidential elections and thus he could exploit his friendship with John McCain.

This is what you do when all you do is base you actions on calculations and no convictions.

I hope Joe Liberman fails this time. He is already failing as his hopes of being chosen as VP by John McCain has been dashed.

not sure what to make of this pics

John McCain is simply not in tune with the television age.

Global financial crisis: Bank chiefs beg FG for bailout   
Written by Babajide Komolafe & Peter Egwuatu, with agency reports    
Thursday, 16 October 2008  
*As oil price falls to $72 per barrel  

CHIEF executives of banks have decided to formally request the Federal Government to intervene in the nation’s financial sector to forestall the effect of the ongoing global financial crisis on the system.

Meanwhile, price of crude oil fell below $72 per barrel, the lowest in 13 months as recession fears raised concerns about a prolonged drop in energy demand.

This was one of the highlights of a meeting of Committee of Banks Chief Executive Officers in Lagos yesterday to discuss development in the industry especially the allegations that some banks were illiquid spread through text messages.

Besides, they resolved that all banks should issue internal memo, warning their staff to desist from spreading rumours aimed at de-marketing other banks, and that any staff caught in the act would be dismissed from the industry. It was also resolved that any bank caught de-marketing another bank would be blacklisted.

The committee also agreed to request the Federal Government to intervene in the nation’s financial market through a package of measures similar to the those introduced in developed countries and that the Central Bank (CBN) should continue to support the interbank money market.

The banks’ CEOs asked the CBN to issue a statement assuring the depositors of the safety of their money in the banks. In addition, they want the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) to be positive in their utterances as they need to explain to investors the dynamics of the market vis-a-vis the normality of occasional up and down movement in the stock market which may result in capital lose or gain.

Against this background, the banks’ CEOs referred the capital market authorities to the October 11 edition of the Economist Magazine which noted that the crisis in the developed markets was an opportunity for African markets to shine and hence Nigerian banks should not shoot one another through negative utterances and de-marketing.  

Earlier in the week, governments across the globe introduced bailout plans to save their banking system from collapse. This include direct equity injection, guarantee for interbank loans, and depositors funds as well as lending to the banks.

Oil price falls to $72 per barrel

However, the price of oil slumped below $72 yesterday, its lowest level for more than 13 months, as recession fears raised concerns about a prolonged drop in energy demand, analysts said.

The global financial crisis will give a vicious twist to an economic slowdown and is hitting world demand for oil, although the effect on emerging economies is unclear, OPEC said yesterday.

The Organisation of Petroleum Exporting Countries (OPEC) slashed its estimate of growth in demand this year and shaved its estimate for 2009, largely because of an “excessive” easing of demand in the United States, the single biggest energy market.

Prices also fell yesterday on news that a Nigerian court has ordered Anglo-Dutch energy giant Royal Dutch Shell to hand over land to locals, a key demand of Niger Delta militants. Brent North Sea crude for November delivery fell to $71.60 a barrel —  the lowest level since August 2007 — before recovering to $72.41, down $2.12 compared to Tuesday’s close.

New York’s main contract, light sweet crude for November, shed $1.98 to $76.65.
Brent crude has fallen by more than half from a record high $147.50 in July, when prices rocketed on fears of supply disruptions.

Oil prices are sliding on “concerns that the coordinated action by central banks over the last week will not be enough to rescue economies from falling into a global recession and hence weighing on oil demand,” Sucden analyst Nimit Khamar said.

A top US central banker, Janet Yellen, said the United States “appears to be in a recession.” There are also growing fears Japan and Europe are heading for a spell of economic stagnation or recession.

The German economy is heading for a slowdown but the downturn will not be a long-lasting one, Chancellor Angela Merkel said Wednesday.

EU urged to rebuild World Bank, IMF

The European Union (EU) has been advised to rebuild global economic institutions, such as the International Monetary Fund and World Bank as part measures to stop current financial crisis

The Prime Minister of UK, Gordon Brown, who gave the advice yesterday, demanded the European Union to follow through on current financial crisis measures by rebuilding a “stage two” response to tackle the roots of the financial crisis.

The current £1.7 trillion European action plan was modelled on Brown’s blueprint to save British banks through recapitalisation, guaranteeing inter-bank lending and injecting cash into frozen markets.

But his new message— unpalatable to some EU leaders — is that future financial reforms must be global rather than European. He also gave no signal that Britain would soften its longstanding hostility to more European regulation.

“Phase two is to make sure that the problems that developed in the financial system, problems that we know started in America, that these problems do not return again,” he said.

“Ten or 20 years ago we had national and European capital markets. We now have global markets. If we are going to sort out global financial problems that are recognised as global so the IMF [International Monetary Fund] has to be rebuilt as fit for purpose for the modern world.”

The Prime Minister will use the Brussels summit today to rally European leaders behind a planned international summit to rival the Bretton Woods conference in 1944, which created the IMF and the World Bank to rebuild a world economy devastated by war.

Mr Brown has called for a reformed IMF to be transformed into a global early warning system, bringing together an international “college of supervisors,” and taking a direct role in the event of a new crisis.



http://nigeriamasterweb.com/paperfrmes.html

Please where are the bankers in the house?

Does anyone know what these CEOs are trying to bail out?

Is anybody in Nigeria accessing non-secured loans?

or how many people in Nigeria have their homes on mortgage?

Or are we bailing out because the west is bailing out their banks so we must even though there is no justification?

I need your thoughts on these please?

there was meant to be one in the last election. Buhari showed up, Yaradua refused to show up.

By the way there has been a Presidential debate before, Abiola vs Tofa had a debate.

I still dont understand why the so called Chemistry teacher ducked a debate.

SeanT21

I think you should swop number 2 to number 1. Because the number 2 quote got me rolling on the floor. By her assertion, every Alaskan is a National Security and foreign policy expert.

I do believe that the media decided to cross some unnecessary T's and dot unnecessary I's.

James Corsi can not disobey immigration rules in a foreign country merely because he wrote a book on Obama.

He should go and apply for work permit.

I give Raila Odinga thumbs up for doing a clean job. It is what it is, until James Corsi procure's a work permit there is no shred of "evidence" suggesting that this has to do with Obama's roots.


No serious electorate will decide how to vote based on Mr Corsi's book given his 2004 history with John Kerry, let alone how Mr Corsi is treated abroad.

Guys chill!!!!!

The next President of Nigeria will not be chosen on Nairaland.

There is even no shred of evidence that if power is zoned to South-South, Jonathan will emerge that President let alone even knowing where in the South it will be zoned to.

Nobody even knows if Yar'adua will continue to be President after 2011.

I think people should concentrate on what happens to their lives between now and 2011 first.

I think Biden did a great job avoiding palin

Helloooooooooooooo!!!!!!!!

Is anyone interested in what happens between now and 2015 to our economy/security

BigB1

Lol John McCain na real papa ajasco

They say his mood changes as fast as fluctuations in the stock market.

I hope Joe Biden concentrates on criticizing John McCain on the issues, he should not attack this woman too much on the debate

Sarah will naturally destroy herself, she has no clue whatsoever.

For those who watched the debate

Was there a time out on the debate?? How could John McCain have possibly approved this message?

He was practically still debating when this add came out

http://firstread.msnbc.msn.com/archive/2008/09/26/1456269.aspx

These guys are in a whole and they keep digging.

Obama was too respectful

When McCain said he was inexperienced to be President, I thought he will respond with John McCain being to erratic to be President

I was also disappointed that Obama did not point out that McCain voted to cut Benefit for Veterans when McCain talked about how he will take care of Veterans.

I honestly dont know why these made news

You can not belief that when I checked the customs list 2 yers ago, this was the custom policy on unacceptable goods.

Except maybe customs had this policy and was implemnting it all this while without the consent of Government, but I do also know that OBJ initiated this policy.

So why exactly is this News?

McCain is obviously better than Obama at debates

I hope Obama provokes McCain in his 2 mins introduction. That will throw McCain off message even more.

He should tell the American people how what has happened in the last few days shows how McCain is too erratic to lead.

NO SHOCK BARRACK, NO DRAMA OBAMA

I have said it before, Democrats should stop fawning over John McCain being a war hero and tell it like it is. This guy is a hot head who owes much of who he is to the fact that he came from a family of admirals.

this guy crashed 3 planes as a navy pilot cadet, he will crash US if not stopped.


In case anybody is still in doubt what a fraud the "picking" of Sarah Palin as VP is watch the video below.


https://www.youtube.com/watch?v=cP12aNzocSc Kobojunkie clearly knows about the issues in America compared to the Republican VP pick.

There is no group called MEND

MEND is a loose coalition of groups, which have no influence or control on its constituents parts. So when MEND says it is declaring a ceasefire but can not account for other groups who may attack you know what a dodgy ceasefire that is.
Ateke Tom may declare a ceasefire, Cynthia Whyte and Jomo Gbomo will tell us MEND has declared ceasefire
but Soboma George or Prince Igodo or Dagogo may continue hostilities, so what use is a ceasefire in such a climate?

I think the FG was right, there is no need for ceasefire as there was no war in the first place.

I hope Obama is concise and straight to the point

He should stop drawing analogies before he makes every single point, that is not very helpful sometimes during debates

However I believe he has a chance since its a head to head debate, because each candidate has more time to make their point.

https://www.youtube.com/watch?v=XjkCrfylq-E

think u find the unfolding drama funnny?

Check this out!!!!



https://www.youtube.com/watch?v=XjkCrfylq-E

My bet is Mike Adenuga is at the vanguard of this move, Just waiting to see it unfold.

well every businessman has the right to invest their money where they like, but the truth is there is no legitimate businessman in Nigeria. These guys would have stolen this money in the past from oil revenue.

However this move is far better than banking the stolen wealth somewhere in western bank as has been the case in the past. My reasons:

1. If we embrace this, it could arrouse local interest in football and my call for months for the replication of our success in the Music and Film industry to soccer can only be nearer.

2. There may now be some working relationship between sports management in Nigeria and England that can only be of benefit to us going forward. (Remember Russia, Chelsea, Abhramovic, Guus Hidink, St Pertersburg?)

3. Our ex-players who have been taking coaching and administrative courses may now have more opportunity to manage or be assistant coaches in the Premiership.

4. Newcastle United can even use their links to lobby whoever manufactures their jersies to site one of their factory outlets in Lagos and exploit the low cost labour in Nigeria as China does.

So my brothers lets look forward, these guys have stolen our National Wealth but there is not a lot we can do about it especially when they control the Government. But their are other pragmatic and realistic ways for Nigeria to benefit from ventures like this. I think we should hold them to task on those other means.

I hope they buy it sha, at the end of the day its an investment that can only yield profit over time. Better than banking the money in the west where western banks use the money to provide low cost loans and encourage local (SME) manufacture in their own country. Yet the money will be depreciating over time as liquid cash does.

$$Rhino:
Then let people just vote and stop the lunacy of power rotation, for God's sake this is not kingship, but presidency.

Power rotation is distasteful, but the reason Nigeria did not play out like Kenya and Zimbabwe after 2007 election is simple: The three people who had any chance of wining from the major political parties were all from North.

Nobody could possibly start up ethnic and tribal wars because Buhari or Atiku lost election to Yar'adua.

Unfortunately there is not trust in the country, so the current power rotation is helpful so long as we make sure it is fair to all.


But what we should do is to ensure that Nigerians as a whole are allowed to choose their President for themselves regardless of the zone power is rotated to.

Also with the greatest of respect to South East, there are two things I suggest they do before their time comes. (1.)  rally round one good leader for them to present  (2). deal with Biafran question. You either choose to lead and your man be President of Nigeria or just keep talking of Biafra. I personally noted injustices to the Igbo's but so also are injustices to the South south and the south west. Our brothers from the North are master political game player and we have to be able to make them to play fair otherwise they will continue to use divide and rule on the rest of Nigerians.

I totally disagree with point number one because it is very ridiculous (no disrespect meant), the idea that a whole tribe should find a consensus leader is simply funny. In every tribe their will be progressives, conservertives and centrist and so too will their be people of different political views in other tribes. So expecting one tribe to choose a President for the rest of the country is just so backward, the Nigerian people should be allowed to choose. Whenever the Presidency is rotated to any zone, that zone owes our country the responsibility to field its best hands and let the Nigerian people choose. Because the priorities for which a geopolitical zone will choose its preferred leaders may not conform with that of the rest of the country. So ability to choose is fundamental to any democracy.

I personally noted injustices to the Igbo's but so also are injustices to the South south and the south west. Our brothers from the North are master political game player and we have to be able to make them to play fair otherwise they will continue to use divide and rule on the rest of Nigerians

Unfortunately making the point above after making point number one in your post does not quite work.

You quickly endorse fall-in-line politics based on zonal views (yes that is what you do when you encourage regional consensus candidates) and yet you bemoan divide and rule tactics of the North. Well the truth is Northerners practice a religion and tradition that make it easy for people to coalese arround a common course even though they don't understand the course or even believe in them.
While most Southerners prefer to think for themselves and are truly democratic by nature.

So the truth of the matter is, so long as we continue to glorify fall-in-line politics in Nigeria. And voting along ethnic and religous lines and voting how our Chiefs and Imams have asked us to vote. There will always be one temporary winner (the Northern Elite). While the rest of the country including even ordinary Northerners will remain long term loosers.


So for me, while rotational Presidency is good. We must say not to regional consensus candidates and voting along ethnic lines and make them as unpopular as possible. We must begin to learn to identify with a leaders political views for the Nation not whether people of his tribe were ready to coalese arround him.


AND BY THE WAY FOR THE RECORDS NOBODY HAS DECIDED HOW OR WHERE POWER WILL ROTATE TO BY 2011, LET ALONE 2015. IF IT WAS ALL ABOUT WHO HAS NOT PRODUCED THE PRESIDENT AT ALL, I THINK THE NORTH EAST WOULD HAVE TAKEN PRECEDENCE OVER NORTH WEST AND IDEALLY PRESIDENCY WOULD HAVE BEEN ROTATED DIRECTLY TO THE SOUTH SOUTH FROM SOUTH WEST. BUT THE FACT THAT IT MOVED TO NORTH WEST AFTER SOUTHWEST MEANT THAT MOST CALCULATIONS BEGIN FROM 1999

DRANOEL:
ignorance

yar adua is from the north west and not north central

You know!!!!!!

Not sure the man's logic

Atiku was from the North East and the Presidency rotated to the Noth-West, so not exactly sure the thinking behind his logic.

2015 is 7 years away and the fool is talking about power rotation.

What happens in the daily lives of his constituency in the next 7years is no use to the fool

People need to give the new CDS benefit of the doubt

He was Chief of Air Staff and and while he was the Air Chief he would not want to be drawn into a controversy that involved mainly Army and Navy. Now that he is CDS he now has oversight on the Army, Navy, Airforce as as opposed to when he was CAS.
Hence why he is now free to voice his oppinion.

not exactly sure what Ibime wants to hear from JTF.

Am not sure it makes sense for 21st century Nigerian Army to celebrate killing any Nigerian, so no matter what success JTF records in the Niger-Delta they can only give a measured response.

These guys were trained to protect our territorial integrity so if they ever get to come against any group of Nigerians, they just have to regret it cos its a no win situation for Nigeria as a whole.

Thabo Mbeki is a courageous leaders . . . . . regardless of any faults anyone will find in him

if PDP ask Yar'adua to resign he will form his own party and leave the PDP leaders in the cold.

no be naija? where all the money flows from Yar'adua's office.

Let it be on record that on a week when a TV station was closed down in Nigeria, members of the news organistaion intimidated and locked up for insinuating that our factually sick President Yar'adua will resign, South African Mbeki who is otherwise fit has resigned because his party ANC advised him to on the account that he may have interferred with court proceedings in the Zuma trial.

Even our AGF who is on record to have written a dubious letter in a corruption trial is still enjoying his office.

Goshhhhhhhhhhhhh!!!!!!!!!!! South Africa is a very civilised country.

The man has already resigned . . . . . he has handed in his resignation letter . . . . . just that the date of his stepping down will be determined by whenever a new leader has been chosen.


Let it be on record that on a week when a TV station was closed down in Nigeria, members of the news organistaion intimidated and locked up for insinuating that our factually sick President Yar'adua will resign, South African Mbeki who is otherwise fit has resigned because his party ANC advised him to on the account that he may have interferred with court proceedings in the Zuma trial.

Even our AGF who is on record to have written a dubious letter in a corruption trial is still enjoying his office.

Goshhhhhhhhhhhhh!!!!!!!!!!! South Africa is a very civilised country.

I think the news about cabinet reshufle is beginning to resemble a perrenial tactics   to divert the attention of the media from the fact that the President is sick.

Meanwhile any cabinet reshufle whenever it comes that still has bro Mike as AGF is no change.