Boo hoo! WaMu Goes Under

WaMu’s failure is the largest bank failure in United States history!

Just around 9 pm Eastern time, the U.S. Government seized Washington Mutual and sold $1.9 billion in assets to JPMorgan Chase. JPMorgan Chase also purchased Bear Stearns last March, and said it would sell $8 billion in stock to raise money.

If the above is all Greek to you (Disclaimer: I’m not an expert, just a college student who is interested in politics): WaMu, under control of the U.S. Government, sold off some the company to JPMorgan Chase for $1.9 billion. It’s pretty much an EPIC FAIL for WaMu, and our economy may be in trouble.

BUT if you have money in an account at WaMu, your money is 100% SAFE (it is FDIC insured). Even if you have investments in WaMu, your money is still SAFE.

:/

McCain Used ‘American Idol’ Makeup Artist

© AP Photo/Mary Altaffer

How funny: John McCain has criticized Barack Obama for his so-called “celebrity status,” yet he has hired an ‘American Idol’ makeup artist to do his makeup for interviews, photos, etc. McCain paid the makeup artist $5,583.43 for her services! (source) Now who is the celebrity?

US Media Putting US on Top

The Three Medals From Beijing

During these Olympic games, the media all over the world has their eyes on China: the people, the culture, and the Olympic athletes. Currently, China has 35 medals overall, 22 of those being gold. The United Sates has 34 medals total, but only 10 of those are gold. What’s the big deal, you ask? Well, American media companies, like NBC and Sports Illustrated, were putting the US on top in medal count, even though traditionally the country with the MOST GOLD medals gets the top spot, NOT the country with the highest medal total. While NBC put the US on top no matter what, foreign media companies follow tradition and put China on top, only because it has the most Gold Medals.

Michael Phelps Goes for Gold

Incredible! US Olympic swimmer Michael Phelps has won his tenth and eleventh gold medal in Beijing yesterday! That gives him more gold medals than any Olympian in the history of the games! His first medal yesterday was for the 200-meter butterfly and his second was for swimming in the first leg of the 4×200 freestyle relay. British swimmer Simon Burnett said

I think I’ve figured out Michael Phelps. He’s not from another planet. He’s from the future. His father made him and made a time machine. Sixty years from now he is an average swimmer, but he has come back here to mop up.

Phelps is 5 for 5 so far, and he still has more finals this week! Let’s hope he goes home with all of the gold!

Let the Games Begin!

The 2008 Summer Olympic Games in Beijing, China Have Begun

Today (as in here  in the US, becuase it’s already tomorrow in China) the Olympics have begun! Watch the opening ceremony tonight on NBC! Let’s hope the US take home most of the medals, even though the Hamm brothers had to drop out, and a boxer collapsed, the US can totally take the gold!

I’ll update after I watch the Opening Ceremony.

UPDATE: Watch videos, see pics, and read storeis on Olympic events for free online at www.NBCOlympics.com.

US Olympic Cyclists Apologize, but Why?

US Olympic Cyclist Michael Friedman arrived in Beijing wearing a face mask.

When four American cyclists (Michael Friedman, Sarah Hammer, Bobby Lea and Jennie Reed) arrived in Beijing this week, they got off their planes with respiratory masks on for concern of the air quality in the city. The air quality in Beijing has been improving due to the government’s strict new anti-pollution measures that were introduced on July 20, a last-minute attempt by the Chinese government to have clear, blue skies for the Olympic games.

Today, those same four American cyclists are apologizing to the Beijing Olympic Organizing Committee for wearing those masks. Bobby Lea went on to say the following:

We didn’t realize the impact that wearing the masks would have… From our standpoint it was to take care of a perceived health risk. In reality it came across as offensive. We don’t want to insult BOCOG or the Chinese public.

In my honest opinion apologizing to the Chinese for trying to keep healthy in a country where smog is ten times worse than the US is ridiculous. Those athletes can do whatever they want to try and keep their bodies healthy so that they can perform well in the Olympic games. Anyone else with me?