
Man, if you can't believe in the sanctity of a Mexican beauty pageant, what is there left to believe in?
a right-slanted blog about politics, religion and other stuff you shouldn’t discuss in polite company

Binding Terms and Conditions: The binding terms and conditions established by the Treasury will mirror those that were voted favorably by a majority of both Houses of Congress, including:
Firms must provide warrants for non-voting stock.
Firms must accept limits on executive compensation and eliminate perks such as corporate jets.
Debt owed to the government would be senior to other debts, to the extent permitted by law.
Firms must allow the government to examine their books and records.
Firms must report and the government has the power to block any large transactions (> $100 M).
Firms must comply with applicable Federal fuel efficiency and emissions requirements.
Firms must not issue new dividends while they owe government debt.
Targets: The terms and conditions established by Treasury will include additional targets that were the subject of Congressional negotiations but did not come to a vote, including:
Reduce debts by 2/3 via a debt for equity exchange.
Make one-half of VEBA payments in the form of stock.
Eliminate the jobs bank.
Work rules that are competitive with transplant auto manufacturers by 12/31/09.
Wages that are competitive with those of transplant auto manufacturers by 12/31/09.
These terms and conditions would be non-binding in the sense that negotiations can deviate from the quantitative targets above, providing that the firm reports the reasons for these deviations and makes the business case to achieve long-term viability in spite of the deviations.

VATICAN CITY - The world economic crisis might mean fewer Christmas
presents, but Pope Benedict XVI says that tough times can give back simplicity
and solidarity to holiday celebrations. Benedict has expressed hope that the
financial crisis will help people focus on the spiritual meaning of Christmas,
when Christians worldwide mark the birth of Jesus.
Benedict says the crisis can help people to rediscover what he calls "the warmth, simplicity, friendship and solidarity" contained in authentic Christmas values.
The pope reflected on economic suffering during his traditional Wednesday audience with pilgrims and tourists at the Vatican.
How did the first 15-20 minutes go?
Of the first five challenges, the panel rejected three, restoring votes
that had originally gone to Coleman. It upheld two challenges, one adding a vote
to Franken and the other taking one away from Coleman.
Now they move on to the remaining 995 or so challenged ballots. It is now officially ugly.