Business News Bits for Saturday, August 29, 2009

There are plenty of opponents to President Obama's proposed system of universal health care. Some go so far as to demonize the Canadian health care system in order to rile up fears that individuals suffering life-threatening illnesses will be placed on the backburner. Opponents to the proposed universal health care system are attempting to utilize television spots to capture and frighten the audience. The most prominent television commercial features Shona Holmes a Canadian national who claims to have been placed on the backburner in spite of a brain tumor. Instead of waiting for surgery, Holmes says that she mortgaged her home in order to pay for the surgery in America. Canadian groups in support of their health care system have responded to Holmes' claims by reminding Americans that the brain tumor that Holme's suffered from was not so life threatening as she claimed. Holmes' tumor was a noncancerous -called a Rathke's cleft cyst. A recent poll shows that most (82 percent) Canadians supported their health care system.

Wyoming Senator Rejects Health Care Bill

Republican senator of Wyoming, Michael Enzi, rejected the bipartisan health care bill floating through Congress because he feels that it does not meet necessary standards. Enzi expressed the concern that the Democrat-introduced health care reform bill would not decrease the national deficit as it should, but increase it. He believes that the bill would fail to save Americans any money. In addition, Enzi is concerned that the bill would compromise the freedom of medical choices for patients.

Florida Police Use Deception to Make 76 Arrests

Florida police made arrests on outstanding warrants by going undercover and encouraging people to collect their stimulus checks. When the people arrived to collect their money, they were required to show their identification. Upon displaying their I.D., the individuals were arrested by uniformed police officers waiting nearby. In all, 76 people were arrested.

Why are Banks Continuing to Fail?

In general, economic forecasts have been positive. In the face of supposed progress, banks are still facing significant struggles. More and more banks are failing as a result of last years economic down turn and a fallen real estate market. The recession has meant major defaults on big loans which mean that even though recovery is underway, banks will continue to struggle because of what's been dubbed a "lagging indicator". Banks will continue to fail because they are affected by their clients who are suffering from the recession; and the banks do not see their problems until after their clients realize that they are facing financial hardship and are unable to pay on their loans. So far this year, a total of 84 banks have failed.

Britain Invests in India, Opens Oil Field

As of Saturday, Britain's Cairn Energy has opened up an oil field in Rajasthan, India. India's Prime Minister Singh is optimistic about the British investment and encourages nations worldwide to consider investing in India.

References

http://news.yahoo.com/s/ap/20090829/ap_on_bi_ge/us_health_overhaul_republicans;_ylt=Ak.RtnNFVcOQBYOEo5UBvpeyFz4D;_ylu=X3oDMTJ2dG0yZGx2BGFzc2V0A2FwLzIwMDkwODI5L3VzX2hlYWx0aF9vdmVyaGF1bF9yZXB1YmxpY2FucwRjcG9zAzIEcG9zAzYEc2VjA3luX3RvcF9zdG9yeQRzbGsDZ29wc2VuYXRvcnNp

http://news.yahoo.com/s/ap/20090829/ap_on_bi_ge/cn_canada_medicare_for_all;_ylt=Ak.cp4TTgKoRw_fFGtZ0DHuyFz4D;_ylu=X3oDMTJ2NnBnM2F1BGFzc2V0A2FwLzIwMDkwODI5L2NuX2NhbmFkYV9tZWRpY2FyZV9mb3JfYWxsBHBvcwM4BHNlYwN5bl9hcnRpY2xlX3N1bW1hcnlfbGlzdARzbGsDb2JhbWFoZWFsdGhy

http://news.yahoo.com/s/nm/20090828/us_nm/us_stimulus_sting;_ylt=As4jA2obBoftx96qY3QPcYiyBhIF;_ylu=X3oDMTJtN2FoMnFiBGFzc2V0A25tLzIwMDkwODI4L3VzX3N0aW11bHVzX3N0aW5nBHBvcwMxBHNlYwN5bl9hcnRpY2xlX3N1bW1hcnlfbGlzdARzbGsDc3RpbXVsdXNjaGVj

http://news.yahoo.com/s/ap/20090829/ap_on_bi_ge/us_meltdown101_bank_failures;_ylt=AigVEmHqxI26HLnQKkLwjJCyBhIF;_ylu=X3oDMTMxNTE1Yzg0BGFzc2V0A2FwLzIwMDkwODI5L3VzX21lbHRkb3duMTAxX2JhbmtfZmFpbHVyZXMEY3BvcwM1BHBvcwMyBHNlYwN5bl9oZWFkbGluZV9saXN0BHNsawNtZWx0ZG93bjEwMXc-

http://news.yahoo.com/s/afp/20090829/wl_uk_afp/indiabritainoilenergycompanycairn;_ylt=AubKhJBfekO0vmCrP_19gI6yBhIF;_ylu=X3oDMTM3a2F0a2piBGFzc2V0A2FmcC8yMDA5MDgyOS9pbmRpYWJyaXRhaW5vaWxlbmVyZ3ljb21wYW55Y2Fpcm4EcG9zAzQEc2VjA3luX2FydGljbGVfc3VtbWFyeV9saXN0BHNsawNicml0aXNoZmlybW8-