Stories of the Day 12/6/2010

Republicans, business owners, and the american public are finally getting what they need.  Today President Obama gave in to his counterparts and announced that he would extend the Bush Tax Cuts for another two years, while also announcing payroll tax cuts and dividend taxes remaining at 15%.  While I think this is a step in the right direction, we still cannot seem to find common ground on where to make cuts in government.  I believe that this is a sign of democrats finally starting to realize that they are fighting an uphill battle.  Read the story from CNBC (here).

Today, the United States Government announced that they are ready to exit their stake in Citigroup.  They plan on using a public offering to dispose of their holdings in the major US Bank.  Shares of the company finished the day unchanged, but have moved negatively in after hours.  The government plans to hold on to warrants that will allow them to buy shares in the future.  2.4 Billion shares expected to be for sale, check it out (here).

(here) is an interesting note today from CNBC.  The United States Treasury in an attempt to produce colorful new currency, has once again showed the inability of government to do almost anything efficiently.  The $120 million that was apparently spent to produce this new currency, may be out the window as there was an issue with a crease in the paper.  Wonderful.