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Ironclad last won the day on October 15

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  1. BLACK MONDAY SHOCKS WALL STREET, WORLD ECONOMY (Washington, DC) - The entire world economy is in a frenzy today as stock markets around the world have seemingly tumbled downward. The crash, which began in Hong Kong, quickly had ripple effects in Western Europe and the United States. Economic news released a few days ago that showed positive economic growth was a boon for many, a clear sign the economy was doing well. Now, by all accounts, we are experiencing a major fall of the Dow Jones Industrial Average. The Dow Jones fell exactly 508 points to 1,738.74 (22.61%), which is the biggest DJIA fall in history. Economists all over the country have remained confident that the crash is just a consequence of markets 'correcting', while others have provided comments ranging from a possible economic recession to another Great Depression. Chair of the Federal Reserve, Alan Greenspan, met with President Reagan and White House Officials early this morning to apparently reassure them that this was just a minor setback in the global markets. Immediately after the meeting, Greenspan traveled to Dallas and gave a speech and his deputy left to Sweden which has caused speculation that the Fed is downplaying the potential severity of what's been deemed 'Black Monday.' White House Press Secretary James Brady, immediately released a statement on behalf of the administration reminding American's of 510,000 jobs created in quarter 4 of 1987 and claimed "we remain cautious but are confident in the economy. We have immediately gotten to work and our the President is watching the situation closely but believes the markets will stabilize." The Federal Reserve also released a statement that they will provide liquidity, and work with banks to provide credit to financial institutions to offset the stunning losses witnessed today. This move has already spurred Goldman Sachs, The Lehman Brothers, and the Saloman Brothers to begin buying major stocks while they are down in order to help revitalize the market. Professor Andrew Stromberg, Ph.D, an economics Professor at the Unversity at Pennsylvania, called visceral reactions to the crash "an overreaction" and urged analysts to "stop selling doomsday scenarios to investors." Stromberg also stated that with the unemployment rate now at 5.6%, and the inflation rate holding steady, we can only expect a stronger economy here on out, especially as the effects of Black Monday not having the same effects on our markets as our Hong Kong and Western Europe counterparts.". Foster Tudor, an economic analyst from the New York Times took a different stance and wrote that "we must not underestimate this, it should be taken as a warning." The Dow Jones falling 508 points is obviously alarming and is a symptom of underlying issues." Tudor stated that the "rising deficit and debt numbers show us that our economy is at a weaker point than it was 8 years ago; this global market crash could be a sign of a possible recession which could adversely harm job growth and put working-class American's in the middle of it all." While many liberal-leaning economic analysts have urged caution, the majority of economic experts have been wary of lasting implications from Black Monday. A recent Gallup poll has shown that American's are currently confident in the economy, with 44% saying it is headed "in the right direction." Only 19% of American's said the economy was headed "in the wrong direction." The overall consensus has been that Black Monday is not a larger sign of economic regression but rather a correction of the markets which will eventually stabilize.
  2. Ironclad

    Associated Press Newswire

    AP BREAKING NEWS: The Dow has dropped a total of 302 points as the markets finished the day.
  3. Ironclad

    Technical Requests

    It's a joke, Rangerboy has been masked already.Enjoy!
  4. Ironclad

    Technical Requests

    I mean y'all def didn't end your elections like a few hours ago and no one requested their maskings......but Processed
  5. Ironclad

    Associated Press Newswire

    AP BREAKING NEWS: Secretary of the Treasury James Baker is reported to be meeting with President Reagan and key economic advisors tomorrow. Budget concerns reportedly being discussed.
  6. Ironclad

    Final Vote: Grandchild Tax Relief Act

    This bill passes with a vote of 100 AYE, 0 NAY and 0 PRESENT
  7. Ironclad

    Associated Press Newswire

    AP BREAKING NEWS: The Dow has dropped 198 points as the markets finished the day.
  8. Ironclad

    Technical Requests

  9. Ironclad

    Administrative Announcements

    I would like to present to you all K-Street's "Smoke-Filled Room." Click here
  10. K-Street's "The Smoke-Filled Room" Guidelines Welcome to K-Street's "Smoke-Filled Room". This is where Washington most powerful and elite will lobby for your vote and for you take certain stances on key issues/situations. "Key Issues" will have the ability to change the tide of the game, by turning a losing situation into possibly a winning situation, but it will be up to you to decide on whether it's a winning situation for you. Your efforts will not be in vain, however, as our donors will compensate you for your efforts and dedication to their cause. You will be given the opportunity to have certain lobbyists donate to your campaigns but the more they donate, the more you will be held to their agenda. While this may sound like a cash cow, it comes with expectations from your supporters on K-Street. Defy those expectations and you might see consequences ranging from an attack in the press to organizations running negative ads about you in your district to drive down your approval rating. Be careful what you ask for on K-Street! K-Street's Key Issues -"Key Issues" will be determined based on the party's commitment to a selected issue or by the public's instance to see a certain outcome. -Players will be expected to follow the directives with a vote and/or press release stating their support on a "key issue". A statement will be required within 48 hours after a key issue have been announced by a donor. Funding -Funding from K-Street's Smoke-Filled Room will be based on your voting record, with emphasis on any legislation you have introduced, and the ability of players to get their bills passed. The more committed a player is to a key issue or agenda, then the increased likelihood that a player may receive an increasingly larger donation from K-Street. -All funding will be released quarterly. Players must update their bank accounts at the end of each quarter in-game or else they may face consequences from the Federal Elections Commission. Campaign Platforms -Platforms will take on a bigger and more influential role in K-Street. A more thorough, targeted and policy specific platform may attract the interest of donors which could result in higher levels of donations. -Players will be given 3 attempts during elections to appeal to a donor for funding during a given election season. Once the 3 attempts have been used, no more attempts will be given. Choose and present wisely. Campaign Research -Campaign research will only be available during the election seasons. During this time, players will be able to invest money in researching their opponents for scandals or damaging information such as dark secrets. (Once a dark secret has already been registered, it cannot be taken back). -If opposition research is successful, any damaging information obtained may be leaked to the press. Secret Meetings -Players will be allowed to request a secret meeting from a backroom donor or specific special interest group. The meetings can be used to ask for an endorsement, more money or for just overall support regarding an agenda piece. -Donor's, however, will not meet with just anyone. Upon requesting a meeting, donors will assess the player's commitment, legislative record, Press Records and etc.. to ensure that this meeting will not be a waste. More dedication to their cause and a high profile character will be the key to securing these meetings. Campaign Finance Laws -For the purpose of the FEC and campaign finance laws, money from K-Street will be treated as 'soft-money' but may be used for any campaign or party expenditure. -Non-compliance with the mandate of keeping an updated bank account will come with in-game consequences such as but not limited to campaign finance investigation, an FEC fine, and a forwarded letter to the House Ethics Committee.
  11. House Democrats and Republicans push to Suspend and Debate the Defense of Marriage Act (WASHINGTON D.C.) - In a bold and surprising move, Representative Douglas Seymour (D-SC) has motioned to Suspend House rules to Debate The Defense of Marriage Act. The Defense of Marriage Act seems to be an eyesore for Democrats as two successive Democratic House Majority Leaders have failed to bring the bill up for debate. While the reason this bill hasn't been introduced yet is unknown, it could be due to the fact that "The Defense of Marriage Act" will limit the legal definition of marriage to a “Man and Woman” and not recognize same-sex marriages. As Representative Seymour (D-SC) motioned for the suspend and debate he stated: “I am proud to be a bipartisan cosponsor of this basic piece of legislation - legislation that would enshrine into law our traditional definition of marriage even as some begin to seek to undermine this cherished institution”. The motion has garnered a lot of attention from both Republicans and Democratic from the Senate, causing key players such as Senator Ted Kennedy to exclaim that "Representative Seymour's attempt to override the legislative agenda of the Democratic party is irresponsible and self-serving", on the other hand, Vice President George H.W Bush stated "Representative Seymour's attempt to bring the Defense of Marriage Act up for debate is noble and is a major step towards bipartisanship" The motion seems to have garnered overwhelming support from the Republican side of the aisle and not much support from the Democrat side. It is still hard to determine whether this motion will garner the 2/3rds support it needs to override House Rules, but if it does, it is expected to rouse intense feelings from both conservative and progressive activists.

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