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Wall Street Oasis » Forums » Hedge Funhouse
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Obama Press Conference
 

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alexpasch's picture
alexpasch
      EN
 
 
(King Kong, 1,865
 
Points)
 on 7/22/11 at 6:59pm
Pickyournose.jpg

Interested to know your thoughts on Obama's press conference. What do you guys think will happen, both politically and with the markets?

I'm very proud of the House Republicans for holding to their beliefs and trying to force substantive cuts and save us from bankruptcy. My guess is they shove the cut, cap, and balance down the Dems throats (or try to), and the markets take a hit on Monday (how big, I don't know, depends what happens tomorrow and Sunday).

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TNA's picture

He is way to divisive. Every

TNA
      O
 
 
(Human, 13,500
 
Points)
 on 7/22/11 at 7:23pm

He is way to divisive. Every comment was blaming the Republicans, bringing up closed door discussions, basically shitting on them in every way. You don't work together and build relationships that way. When he had a majority in the House and Senate he treated Republicans like shit and forced legislation down their throat and now that he has to compromise and act like an adult he is failing miserably.

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rothyman's picture

I'm not proud. I'm

rothyman
      HF
 
 
(King Kong, 1,163
 
Points)
 on 7/22/11 at 7:27pm

I'm not proud. I'm disgusted. It is pathetic that we have gotten to this point in political rhetoric. Often you have to see through all the bullshit in politics, but this is like trying to see through a pool of bullshit 12ft deep.

Both sides have been needing to drop the bullshit for so long. I think the Dems finally dropped most of it and the GOP is still lingering on.

All these Republican politicians will make you believe that a small tax increase on the upper class will drive our economy down. This isn't correct. 1) Our taxes are lower now than they have been for awhile. Actually during the Clinton boom, our tax rate was higher 2) There isn't any CLEAR evidence that raising taxes on the rich drives GDP or markets down. It is a theory that has yet to be met with any real evidence.

As a moderate republican myself, I'm embarrassed. I think that speech just won Obama the next presidency. If the GOP doesn't come to a deal, Obama wins. Even if GOP comes to a deal now, Obama still wins. People are pissed and Obama looked more pissed than anyone. The American people are going to eat it up, as they should. Republicans are shooting themselves in the foot on this one.

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TNA's picture

The Republicans won the House

TNA
      O
 
 
(Human, 13,500
 
Points)
 on 7/22/11 at 7:32pm

The Republicans won the House because they were anti tax and smaller government. By allowing taxes to increase they would shoot themselves in the foot.

Taxes should go down, not up.

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alexpasch's picture

rothyman wrote: I'm not

alexpasch
      EN
 
 
(King Kong, 1,865
 
Points)
 on 7/22/11 at 7:59pm
rothyman:

I'm not proud. I'm disgusted. It is pathetic that we have gotten to this point in political rhetoric. Often you have to see through all the bullshit in politics, but this is like trying to see through a pool of bullshit 12ft deep.

Both sides have been needing to drop the bullshit for so long. I think the Dems finally dropped most of it and the GOP is still lingering on.

All these Republican politicians will make you believe that a small tax increase on the upper class will drive our economy down. This isn't correct. 1) Our taxes are lower now than they have been for awhile. Actually during the Clinton boom, our tax rate was higher 2) There isn't any CLEAR evidence that raising taxes on the rich drives GDP or markets down. It is a theory that has yet to be met with any real evidence.

As a moderate republican myself, I'm embarrassed. I think that speech just won Obama the next presidency. If the GOP doesn't come to a deal, Obama wins. Even if GOP comes to a deal now, Obama still wins. People are pissed and Obama looked more pissed than anyone. The American people are going to eat it up, as they should. Republicans are shooting themselves in the foot on this one.

If you really look at the data, the Dems haven't offered real spending cuts. Offering ~150B a year in spending cuts a year coupled with 100B a year in revenue increases is not a realistic solution when you're running $1+T deficits. Keep in mind that all these figures tossed around by the media are total numbers, which will be amortized over a long period of time. Also keep in mind that the entitlment spending is only going to go up. Anyone who really understands the numbers can draw no other conclusion than that the Dems are not serious about fixing this. We should cut at least $500B a YEAR, all from spending. That would still only bring us back to $600B or so a year in annual deficits. Amortized over 10 years, that's $5T. Keep in mind that even with this figure, our debt/GDP keeps going up. We should be cutting even more, maybe something like $800B. We need to make drastic cuts just to SMOOTH our way into lower spending/living within our means. Otherwise, one day, we'll wake up and see Treasury rates have skyrocketed, and can't afford to spend even on very basic things, nevermind a $500K quadruple heart bypass for an 80 year old terminally ill cancer patient (like we currently do). Look at how quickly interest rates skyrocketed on Greece, our debt/GDP ratio is already there, if you adjust for all the shenanigans in the reporting of the numbers.

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rothyman's picture

@alex I don't disagree with

rothyman
      HF
 
 
(King Kong, 1,163
 
Points)
 on 7/22/11 at 8:11pm

@alex

I don't disagree with you about the need for more cuts. I am 100% in favor of deeper, non bs cuts that aren't just smoke in mirrors. However this isn't the reason the GOP has backed out. They backed out because they will NOT touch taxes. Even if Obama promised the cuts you listed above, the GOP would not vote for any tax increase. In my eyes, the Dems are still compromising more for their constituents than the Republicans are. Like I said before, tax rates for the upper-class are relatively low. It's not like they are relatively high at the moment.

http://www.taxpolicycenter.org/taxfacts/displayafa...

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TNA's picture

Why would the GOP vote for

TNA
      O
 
 
(Human, 13,500
 
Points)
 on 7/22/11 at 8:32pm

Why would the GOP vote for anything that involves tax increases? The rich are simply a policy scapegoat for Obama. Why would you increase taxes during a recession (or at least lack luster recovery)?

Why are the Democrats always the party of more taxes. The government is too big, wastes too much and needs to cut back. The last thing we need is to take more money out of the private market.

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ivoteforthatguy's picture

ANT wrote: He is way to

ivoteforthatguy
      O
 
(Neanderthal, 2,210
 
Points)
 on 7/22/11 at 9:08pm
ANT:

He is way to divisive. Every comment was blaming the Republicans, bringing up closed door discussions, basically shitting on them in every way. You don't work together and build relationships that way. When he had a majority in the House and Senate he treated Republicans like shit and forced legislation down their throat and now that he has to compromise and act like an adult he is failing miserably.

I got the impression that O was a huge pussy when he had the house and senate.

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TNA's picture

Yeah, he really has been all

TNA
      O
 
 
(Human, 13,500
 
Points)
 on 7/22/11 at 9:16pm

Yeah, he really has been all hype. I think Colin Powell would have been a much more appropriate first black president. The guy is a decorated veteran and had the stones and integrity to step down because he disagreed with Bush.

A cereal box could have run against Bush and won. In fact, one did.

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ivoteforthatguy's picture

My plan to restore

ivoteforthatguy
      O
 
(Neanderthal, 2,210
 
Points)
 on 7/22/11 at 9:19pm

My plan to restore america:

1. 15% flat tax.
2. pull our troops from 110 countries across the world.
3. let people under 35 opt out of social security and medicare.
4. abolish the fed and restore a constitutional, commodity-backed currency.
5. abolish the TSA, HUD, Education Department, HHS.
6. abolish affirmative action.
7. dismantle all of our torture chambers and secret prisons.
8. no foreign aid to any country.
9. seal the southern border and fund an e-verify mandate.
10. no more executive wars.

boom, america's right as rain again.

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txjustin's picture

ivoteforthatguy wrote: My

txjustin
      O
 
(Neanderthal, 2,447
 
Points)
 on 7/22/11 at 9:22pm
ivoteforthatguy:

My plan to restore america:

1. 15% flat tax.
2. pull our troops from 110 countries across the world.
3. let people under 35 opt out of social security and medicare.
4. abolish the fed and restore a constitutional, commodity-backed currency.
5. abolish the TSA, HUD, Education Department, HHS.
6. abolish affirmative action.
7. dismantle all of our torture chambers and secret prisons.
8. no foreign aid to any country.
9. seal the southern border and fund an e-verify mandate.
10. no more executive wars.

boom, america's right as rain again.

I like everything you said except I'm more for a flat/fair tax mix. Well done my friend!

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happypantsmcgee's picture

ANT wrote: Yeah, he really

happypantsmcgee
      O
 
 
(Almost Human, 9,621
 
Points)
 on 7/22/11 at 9:25pm
ANT:

Yeah, he really has been all hype. I think Colin Powell would have been a much more appropriate first black president. The guy is a decorated veteran and had the stones and integrity to step down because he disagreed with Bush.

A cereal box could have run against Bush and won. In fact, one did.

Colin Powell said he was only in for one term before he was even nominated actually though I do agree with your point.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

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txjustin's picture

ANT wrote: He is way to

txjustin
      O
 
(Neanderthal, 2,447
 
Points)
 on 7/22/11 at 9:32pm
ANT:

He is way to divisive. Every comment was blaming the Republicans, bringing up closed door discussions, basically shitting on them in every way. You don't work together and build relationships that way. When he had a majority in the House and Senate he treated Republicans like shit and forced legislation down their throat and now that he has to compromise and act like an adult he is failing miserably.

Ant, your last sentence is a very good point I hadn't even thought of. Thanks for bringing that up.

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09grad's picture

I'm not a huge Obama fan by

09grad
      PE
 
 
(Orangutan, 335
 
Points)
 on 7/22/11 at 9:43pm

I'm not a huge Obama fan by any means but in broad strokes, I like the way he's handled the debt ceiling issue, as I think he's approached it as a centrist.

Most reasonable people would agree that spending cuts alone are not a realistic way to get out of the debt crisis; we need a mix of both revenue increases and spending cuts. The compromise package that the White House agreed to was 75% spending cuts and 25% revenue increases - not by raising taxes, but just by closing certain loopholes.

If a party is so ideologically closed that it can't take a 75-25 compromise in its favor, then I think its very dangerous for a democracy.

The R party is too far right and too beholden to the crazies at its base. Even poeple like Colin Powell, David Brooks, have been unable to find a place in the R tent nowadays.

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APAE's picture

There was a great article

APAE
     
 
(Neanderthal, 3,660
 
Points)
 on 7/23/11 at 12:47am

There was a great article today either on BBG or in the journal, don't remember which, but it brought up a really good point. Obama is starting to look childish. He's too forward. I haven't seen this conference everyone was talking about late in the day, but before that the general sentiment was that every time he appeared in front of the camera, he hurt his poll numbers.

My personal belief is that the Gang of Six proposal is the only real, substantive idea going forward. Serious Dems, Serious Republicans sitting together to thrash out what needs to get done. Ironically enough, it essentially mirrors the Bowles-Simpson plan from last year; sad that that kinda got discarded, pushed off to the side with a "Hey thanks, great work, but no thanks."

A lot of people do certain things to add days to their life. I do things to add life to my days.

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MMBinNC's picture

txjustin

MMBinNC
      CD
 
(Neanderthal, 2,156
 
Points)
 on 7/23/11 at 10:32am
txjustin:
ivoteforthatguy:

My plan to restore america:

1. 15% flat tax.
2. pull our troops from 110 countries across the world.
3. let people under 35 opt out of social security and medicare.
4. abolish the fed and restore a constitutional, commodity-backed currency.
5. abolish the TSA, HUD, Education Department, HHS.
6. abolish affirmative action.
7. dismantle all of our torture chambers and secret prisons.
8. no foreign aid to any country.
9. seal the southern border and fund an e-verify mandate.
10. no more executive wars.

boom, america's right as rain again.

I like everything you said except I'm more for a flat/fair tax mix. Well done my friend!

Love it. Although the "no foreign aid" would destroy countries like Saudi Arabia/our other "allies" in OPEC.

As for the tax thing...

"Don't expect to build up the weak by pulling down the strong."- Calvin Coolidge

In 2001 Russia adopted a 13% flat tax. Russia’s economy has expanded by about 10 percent by 2005. That may not be spectacular, but it’s better than the United States, and it’s very impressive compared to the anemic growth rates we see elsewhere in Europe.

I am still the most favorable to the Fair Tax. I repeat myself on so many threads its becoming ridiculous.

Reality hits you hard, bro...

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ke18sb's picture

At the end of the day this

ke18sb
      PE
 
 
(King Kong, 1,092
 
Points)
 on 7/23/11 at 11:54am
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TNA's picture

Why do taxes need to

TNA
      O
 
 
(Human, 13,500
 
Points)
 on 7/23/11 at 12:48pm

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TNA's picture

I also think our government

TNA
      O
 
 
(Human, 13,500
 
Points)
 on 7/23/11 at 12:48pm

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restructure-this's picture

ANT wrote: The Republicans

restructure-this
      PE
 
 
(Baboon, 105
 
Points)
 on 7/23/11 at 1:00pm
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ke18sb's picture

The problem with comments

ke18sb
      PE
 
 
(King Kong, 1,092
 
Points)
 on 7/23/11 at 1:03pm
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ke18sb's picture

Also, just because there is

ke18sb
      PE
 
 
(King Kong, 1,092
 
Points)
 on 7/23/11 at 1:05pm
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TNA's picture

Stimulus was shit. Cutting

TNA
      O
 
 
(Human, 13,500
 
Points)
 on 7/23/11 at 1:18pm

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TNA's picture

restructure-this wrote: ANT

TNA
      O
 
 
(Human, 13,500
 
Points)
 on 7/23/11 at 1:21pm

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awm55's picture

I think the issue comes from

awm55
      ST
 
(Senior Gorilla, 852
 
Points)
 on 7/23/11 at 1:24pm
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awm55's picture

ANT wrote: Stimulus was shit.

awm55
      ST
 
(Senior Gorilla, 852
 
Points)
 on 7/23/11 at 1:29pm
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ke18sb's picture

+1 awm55 This isn't your

ke18sb
      PE
 
 
(King Kong, 1,092
 
Points)
 on 7/23/11 at 2:15pm
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awm55's picture

ke18sb wrote: +1 awm55 This

awm55
      ST
 
(Senior Gorilla, 852
 
Points)
 on 7/23/11 at 2:21pm
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ke18sb's picture

Agreed, the worst is when

ke18sb
      PE
 
 
(King Kong, 1,092
 
Points)
 on 7/23/11 at 2:48pm
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awm55's picture

ke18sb wrote: Agreed, the

awm55
      ST
 
(Senior Gorilla, 852
 
Points)
 on 7/23/11 at 3:01pm
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txjustin's picture

awm55 wrote: ANT

txjustin
      O
 
(Neanderthal, 2,447
 
Points)
 on 7/23/11 at 4:35pm
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txjustin's picture

awm55 wrote: ke18sb

txjustin
      O
 
(Neanderthal, 2,447
 
Points)
 on 7/23/11 at 4:36pm
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awm55's picture

txjustin wrote: awm55

awm55
      ST
 
(Senior Gorilla, 852
 
Points)
 on 7/23/11 at 4:50pm
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awm55's picture

txjustin wrote: awm55

awm55
      ST
 
(Senior Gorilla, 852
 
Points)
 on 7/23/11 at 4:51pm
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txjustin's picture

awm55 wrote: txjustin

txjustin
      O
 
(Neanderthal, 2,447
 
Points)
 on 7/23/11 at 5:01pm
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txjustin's picture

awm55 wrote: txjustin

txjustin
      O
 
(Neanderthal, 2,447
 
Points)
 on 7/23/11 at 5:04pm
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awm55's picture

txjustin wrote: awm55

awm55
      ST
 
(Senior Gorilla, 852
 
Points)
 on 7/23/11 at 5:23pm
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awm55's picture

txjustin wrote: awm55

awm55
      ST
 
(Senior Gorilla, 852
 
Points)
 on 7/23/11 at 5:27pm
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rothyman's picture

ANT wrote: Stimulus was shit.

rothyman
      HF
 
 
(King Kong, 1,163
 
Points)
 on 7/23/11 at 6:06pm
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MMBinNC's picture

The liberal insanity on this

MMBinNC
      CD
 
(Neanderthal, 2,156
 
Points)
 on 7/23/11 at 7:00pm

Reality hits you hard, bro...

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txjustin's picture

rothyman wrote: ANT

txjustin
      O
 
(Neanderthal, 2,447
 
Points)
 on 7/23/11 at 9:45pm
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txjustin's picture

awm55 wrote: txjustin

txjustin
      O
 
(Neanderthal, 2,447
 
Points)
 on 7/23/11 at 9:47pm
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awm55's picture

txjustin wrote: rothyman

awm55
      ST
 
(Senior Gorilla, 852
 
Points)
 on 7/23/11 at 10:13pm
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txjustin's picture

You honestly can't compare

txjustin
      O
 
(Neanderthal, 2,447
 
Points)
 on 7/23/11 at 10:31pm
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TNA's picture

Half this country pay

TNA
      O
 
 
(Human, 13,500
 
Points)
 on 7/23/11 at 10:42pm

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rothyman's picture

txjustin wrote: You honestly

rothyman
      HF
 
 
(King Kong, 1,163
 
Points)
 on 7/23/11 at 10:51pm
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blastoise's picture

what are the arguments

blastoise
      O
 
(Senior Neanderthal, 4,380
 
Points)
 on 7/23/11 at 10:50pm
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Nobama88's picture

blastoise wrote: what are the

Nobama88
      RE
 
 
(King Kong, 1,676
 
Points)
 on 7/23/11 at 10:59pm

Need to Land a Job? Click Here.

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TNA's picture

People are born into poverty

TNA
      O
 
 
(Human, 13,500
 
Points)
 on 7/23/11 at 11:07pm

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09grad's picture

there's a basic level of

09grad
      PE
 
 
(Orangutan, 335
 
Points)
 on 7/24/11 at 12:09am
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awm55's picture

Nobama88 wrote: blastoise

awm55
      ST
 
(Senior Gorilla, 852
 
Points)
 on 7/24/11 at 12:17am
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The contents of this Web Site, such as text, graphics, images, logos, button icons, software and other items (collectively, "Material"), are protected under both United States and foreign copyright, trademark and other laws. All Material is the property of the Company or its content suppliers or clients. The compilation (meaning the collection, arrangement and assembly) of all content on this Web Site is the exclusive property of the Company and protected by U.S. and international copyright laws. Unauthorized use of the Material may violate copyright, trademark, and other laws. You must retain all copyright, trademark, service-mark and other proprietary notices contained in the original Material on any copy you make of the Material. You may not sell or modify the Material or reproduce, display, publicly perform, distribute, or otherwise use the Material in any way for any public or commercial purpose. The use of the Material on any other web site or in a networked computer environment for any purpose is prohibited.

You shall not copy or adapt the HTML code that the Company creates to generate its pages. It is also protected by the Company?s copyright.

Acceptable Site Use.

General Rules: Users may not use the Web Site in order to transmit, distribute, store or destroy material (a) in violation of any applicable law or regulation, (b) in a manner that will infringe the copyright, trademark, trade secret or other intellectual property rights of others or violate the privacy, publicity or other personal rights of others, or (c) that is defamatory, obscene, threatening, abusive or hateful.

Web Site Security Rules. Users are prohibited from violating or attempting to violate the security of the Web Site, including, without limitation, (a) accessing data not intended for such user or logging into a server or account which the user is not authorized to access, (b) attempting to probe, scan or test the vulnerability of a system or network or to breach security or authentication measures without proper authorization, (c) attempting to interfere with service to any user, host or network, including, without limitation, via means of submitting a virus to the Web Site, overloading, "flooding", "spamming", "mailbombing" or "crashing", (d) sending unsolicited e-mail, including promotions and/or advertising of products or services, or (e) forging any TCP/IP packet header or any part of the header information in any e-mail. Violations of system or network security may result in civil or criminal liability. The Company will investigate occurrences which may involve such violations and may involve, and cooperate with, law enforcement authorities in prosecuting users who are involved in such violations.

Specific Prohibited Uses.

The Company specifically prohibits any use of the Web Site, and all users agree not to use the Web Site, for any of the following:

  • Posting any incomplete, false or inaccurate biographical information or information which is not your own accurate resume
  • Using any device, software or routine to interfere or attempt to interfere with the proper working of this Web Site or any activity being conducted on this site.
  • Taking any action which imposes an unreasonable or disproportionately large load on this Web Site?s infrastructure.
  • If you have a password allowing access to a non-public area of this Web Site, disclosing to or sharing your password with any third parties or using your password for any unauthorized purpose.
  • Notwithstanding anything to the contrary contained herein, using or attempting to use any engine, software, tool, agent or other device or mechanism (including without limitation browsers, spiders, robots, avatars or intelligent agents) to navigate or search this Web Site other than the search engine and search agents available from the Company on this Web Site and other than generally available third party web browsers (e.g., Netscape Navigator, Microsoft Explorer).
  • Attempting to decipher, decompile, disassemble or reverse engineer any of the software comprising or in any way making up a part of the Web Site.
  • Aggregating, copying or duplicating in any manner any of the materials or information available from the Web Site.
  • Framing of or linking to any of the materials or information available from the Web Site.

User Information.

When you register for the Web Site, you will be asked to provide the Company with certain information including, without limitation, a valid email address (your "Information"). In addition to the terms and conditions that may be set forth in any privacy policy on this Web Site, you understand and agree that the Company may disclose to third parties, on an anonymous basis, certain aggregate information contained in your registration application. The Company reserves the right to offer third party services and products to you based on the preferences that you identify in your registration and at any time thereafter; such offers may be made by the Company or by third parties. Please see the Company's Privacy Policy below for further details regarding your Information.

Registration and Password.

You are responsible for maintaining the confidentiality of your information and password. You shall be responsible for all uses of your registration, whether or not authorized by you. You agree to immediately notify the Company of any unauthorized use of your registration or password.

The Company's Liability.

As a condition to your use of this site, you release the Company (and our agents and employees) from claims, demands and damages (actual and consequential, direct and indirect) of every kind and nature, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way connected with such disputes. If you are a California resident, you waive California Civil Code d1542, which says: "A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor."

We are under no legal obligation to, and generally do not, control the information provided by other users which is made available through the Web Site. By its very nature, other people?s information may be offensive, harmful or inaccurate, and in some cases will be mislabeled or deceptively labeled. We expect that you will use caution and common sense when using this Web Site.

The Material may contain inaccuracies or typographical errors. The Company makes no representations about the accuracy, reliability, completeness, or timeliness of the Web Site or the Material. The use of the Web Site and the Material is at your own risk. Changes are periodically made to the Web Site and may be made at any time.

You acknowledge and agree that you are solely responsible for the content and accuracy of any resume or material contained therein placed by you on the Web Site and you agree to let any users that are identified as recruiters (designated in the sole discretion of the Company) to have access to your resume.

The Company is not to be considered to be an employer with respect to your use of the Web Site and the Company shall not be responsible for any employment decisions, for whatever reason made, made by any entity posting jobs on the Web Site.

THE COMPANY DOES NOT WARRANT THAT THE WEB SITE WILL OPERATE ERROR-FREE OR THAT THE WEB SITE AND ITS SERVER ARE FREE OF COMPUTER VIRUSES OR OTHER HARMFUL MECHANISMS. IF YOUR USE OF THE WEB SITE OR THE MATERIAL RESULTS IN THE NEED FOR SERVICING OR REPLACING EQUIPMENT OR DATA, THE COMPANY IS NOT RESPONSIBLE FOR THOSE COSTS.

THE WEB SITE AND MATERIAL ARE PROVIDED ON AN "AS IS" BASIS WITHOUT ANY WARRANTIES OF ANY KIND. THE COMPANY, TO THE FULLEST EXTENT PERMITTED BY LAW, DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING THE WARRANTY OF MERCHANTABILITY, FITNESS FOR PARTICULAR PURPOSE AND NON-INFRINGEMENT. THE COMPANY MAKES NO WARRANTIES ABOUT THE ACCURACY, RELIABILITY, COMPLETENESS, OR TIMELINESS OF THE MATERIAL, SERVICES, SOFTWARE, TEXT, GRAPHICS, AND LINKS.

Disclaimer of Consequential Damages.

IN NO EVENT SHALL THE COMPANY, ITS SUPPLIERS, OR ANY THIRD PARTIES MENTIONED ON THE WEB SITE BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, INCIDENTAL AND CONSEQUENTIAL DAMAGES, LOST PROFITS, OR DAMAGES RESULTING FROM LOST DATA OR BUSINESS INTERRUPTION) RESULTING FROM THE USE OR INABILITY TO USE THE WEB SITE AND THE MATERIAL, WHETHER BASED ON WARRANTY, CONTRACT, TORT, OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT THE COMPANY IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

Links to Other Sites.

The Web Site may contain links to third party web sites. These links are provided solely as a convenience to you and not as an endorsement by the Company of the contents on such third-party Web sites. The Company is not responsible for the content of linked third-party sites and does not make any representations regarding the content or accuracy of materials on such third party Web sites. If you decide to access linked third party Web sites, you do so at your own risk.

No Resale or Unauthorized Commercial Use.

You agree not to resell or assign your rights or obligations under these Term of Use. You also agree not to make any unauthorized commercial use of the Web Site.

Limitation of Liability.

The aggregate liability for the Company to you for all claims arising from the use of the Materials is limited to $1.

Termination.

The Company reserves the right, at its sole discretion, to pursue all of its legal remedies, including but not limited to immediate termination of your registration with or ability to access the Web Site and/or any other service provided to you by the Company, upon any breach by you of these Terms and Conditions or if the Company is unable to verify or authenticate any information you submit to the Web Site registration with or ability to access the Web Site.

Indemnity.

You agree to defend, indemnify, and hold harmless the Company, its officers, directors, employees and agents, from and against any claims, actions or demands, including without limitation reasonable legal and accounting fees, alleging or resulting from your use of the Material or your breach of the terms of these Terms and Conditions. The Company shall provide notice to you promptly of any such claim, suit, or proceeding and shall assist you, at your expense, in defending any such claim, suit or proceeding.

General.

The Company makes no claims that the Materials may be lawfully viewed or downloaded outside of the United States. Access to the Materials may not be legal by certain persons or in certain countries. If you access the Web Site from outside of the United States, you do so at your own risk and are responsible for compliance with the laws of your jurisdiction. These Terms and conditions are governed by the internal substantive laws of the State of New York, without respect to its conflict of laws principles. Jurisdiction for any claims arising under this agreement shall lie exclusively with the state or federal courts within New York, New York. If any provision of these Terms and Conditions are found to be invalid by any court having competent jurisdiction, the invalidity of such provision shall not affect the validity of the remaining provisions of these Terms and Conditions, which shall remain in full force and effect. No waiver of any term of these Terms and Conditions shall be deemed a further or continuing waiver of such term or any other term. Except as expressly provided in additional terms of use for areas of the Web Site a particular "Legal Notice," or Software License or Material on particular Web pages, these Terms and Conditions constitute the entire agreement between you and the Company with respect to the use of Web Site. No changes to these Terms and Conditions shall be made except by a revised posting on this page.

PRIVACY POLICY

The Company recognizes that you are concerned about privacy. We are committed to preserving your privacy and safeguarding your sensitive information. The following statement describes the general information-gathering and usage practices of our sites.

Our staff, contractors, Internet service providers and others involved in this site follow this policy or similarly strict policies regarding your Information.

Disclosure

The Company is committed to fully disclosing our policies regarding the collection, use, maintenance, disclosure and security of personal information obtained from users of our site. The term "personal information" includes a name, address, email address, or any other information which could be used to contact you directly or to identify you personally.

Use and Disclosure Limitations

The Company only uses personal information about its Web site users for specific purposes. We do not share user information with third parties except when we have told users about the disclosures, when we have prior consent, or when required by law.

Use Policy: When the Company gathers personal information from users, we ask for permission first. We also disclose, at the time of collection, how the information will be used by us. Personal information is used for activities such as auto-completion of commonly-used forms and helping us contact you when you solicit information from us.

Disclosure Policy: We do not normally disclose personal information to anyone outside of the Company unless we have previously informed users about the disclosures. However, some data may be used from time to time by outside contractors, including auditors or consultants, to assist us in carrying out necessary financial or operational activities. These uses will be consistent with this privacy policy and all contractors using this potential personal information must agree to safeguard it, to use it only for the authorized purpose, and to return it or destroy it upon completion of the activity.

The Company might be required to disclose personal information in response to a valid legal process such as a subpoena, search warrant or court order.

Although unlikely, it is possible that we may have to make certain disclosures to ensure the security of our Web site, to protect its integrity, or to take precautions against potential liability. In any of these situations, we will take any reasonable steps to limit the scope of the data disclosed.

Web Logs: The Company maintains standard Web logs that record basic information about visitors to our Web site. These logs contain: * The Internet domain from which you came to our Web site. * Your IP address. An IP address is a series of numbers which uniquely identifies your connection to the Internet. Although it is possible in some instances, certain types of IP addresses may be used by interested persons to identify users but we do not attempt to identify users in this way. * The type of browser (e.g., Internet Explorer or Netscape) and operating system (e.g., Windows 98) you use. * The date and time you visited the site, and the pages you saw.

We use Web log information to design our Web site, identify popular features, and in similar ways. We do not try to identify individuals from Web logs or to link Web logs to other user information. However, if someone tries to damage our Web site or use it in an unauthorized or illegal way, we may share Web log information with law enforcement agencies. The Company may provide aggregate information such as the number of users who visit particular pages of the site, or the number of people who link to certain external sites from our site, to other parties.

Changes to Privacy Policy

The Company's features and services will change over time and our information-gathering practices and policies may also change.

While our philosophy of protecting user information from inappropriate uses and disclosures will not change, this policy will be updated occasionally to include any change that materially affects the collection, maintenance, use, or disclosure of personal information.

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