Letters from NYC

The News That's NOT Being Reported

If DC news is not your cup of tea then move on to the next post and read about all the books that are currently being banned or challenged in cities and towns across American. Yes, folks in that list you'll find the threats to freedom and our way of life! [For those that don't know me...please read with an extremely sarcastic tone.]

- Greenspan still sees "froth in housing market." He based his comments, given at the Mortgage Bankers convention, on new data developed by Fed staff economists on increased home values, how much has been extracted in home equity loans, and the latest loan to value ratios.

- President Bush offers continued access to the Strategic Petroleum Reserve. Yesterday, following a briefing at the Energy Department, President Bush offered further access to the Strategic Petroleum Reserve and noted work to open refineries and pipelines, to allow foreign hulls to bring gasoline imports, and to waive EPA blending regs. Mr. Bush concluded with a strong call for conservation by motorists.

- The Former and Current head of FEMA testified today that it has spent $16.0 b. so far. That leaves $46.3 b. to be spent. House Appropriations will begin today three days of hearings on hurricane relief spending starting with FEMA, Homeland Security and HUD tomorrow, the Army Corps of Engineers on Wednesday, and the Transportation Department Thursday. President Bush is readying a third package of rebuilding aid to send to Congress that could exceed that amount. Senator Frist's (R-TN) top budget aide Bill Hoagland told a Washington audience today that federal hurricane relief and rebuilding funding would be closer to $100 b. than to $200 b., which "has no basis in analysis." But who's to know what the cost will be?

- Continuing resolution till November 18th will be enacted by midnight Friday. With only two appropriations bills enacted so far, out of 13, Congress and President Bush have no choice but to enact a continuing resolution. The House has passed all its appropriations, and the Senate has four more to go, and conference committees are working on five. transfer from airport requested via hotel.

- 18 Al Qaeda Operatives Sentenced in Spain. Europe's biggest trial of alledged al Qaeda members to date concluded in Madrid today with sentences ranging from 6 to 27 years in prison. Suspected al Qaeda cell leader Imad Yarkas drew the longest sentence from Spain's High Court, 27 years, for conspiracy and leading a terrorist organization. Yarkas was found guilty of collaborating with the 9/11 plotters, but he was cleared of any specific role in the attacks in NY & DC. The High Court dismissed the most serious charges. Six additional defendants were acquitted of all charges.

So that's all the news I have time to print. Gotta get back to work and do massive amounts of reading today. If you're looking for me I'm the one that is surrounded by mountains of paper. Too bad it's all white, I could use some color!