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Thursday, October 2, 2008

10/02/08 Greenwich Time News Links For Thursday



Apologies to Sarah Palin and Joe Biden. For a quartet of General Assembly hopefuls in the state's 36th Senate and 151st House districts, Wednesday night was the most consequential debate of the fall election season.

The two-hour program sponsored by the League of Women Voters of Greenwich at Town Hall pitted two sets of candidates against each other in hotly contested races for open seats in the state legislature created by the retirements of longtime GOP incumbents William Nickerson and Claudia "Dolly" Powers.

Stamford Democrat Mark Diamond and Greenwich Republican L. Scott Frantz, the combatants in the 36th District, were anything but pugilistic during the first hour of the program, often agreeing with each other on a spectrum of issues that included reining in state spending, attracting more businesses to the state, improving transportation, the need to create more affordable housing and protecting the environment. The district includes Greenwich and parts of Stamford and New Canaan......

Cookie Caucus: Greenwich deli conducting presidential poll based a sales of sweets

Keelin Daly/Staff photoWant to know which way the cookie crumbles in the race between Barack Obama and John McCain? Gretchen and Marty Lupinacci, owners of the Valley Road deli in Cos Cob that bears their family's name, have come up with their own daily tracking poll that doesn't involve unsolicited telephone calls and margins of error.

Following an uproar from parents, the committee overseeing reconstruction of Hamilton Avenue School is shelving a proposal to oust the building contractor through a legal action that likely would have delayed the project's already-behind-schedule completion for a year or more.

With approximately 6,000 people statewide having a stroke each year and many not reaching hospitals in time, there is a need for faster, more responsive stroke care teams, according to Connecticut Public Health Commissioner ....

As part of a study about adding more space for bikes in new passenger rail cars, the Department of Transportation later this month will try out bike racks aboard trains on Metro-North's New Haven Line.

Responding to complaints about service gaps on the Danbury branch and the New Haven Line, Metro-North Railroad has adjusted the train schedule.

Apologies to Sarah Palin and Joe Biden. For a quartet of General Assembly hopefuls in the state's 36th Senate and 151st House districts, Wednesday night was the most consequential debate of the fall election season.


GA field hockey edges Taft

Keelin Daly/Staff photoSome players have a special knack for making big plays at the right time. Alexa Pujol is that type of player for the Greenwich Academy field hockey team.



Drivers in Fairfield County have a love-hate relationship with the scenic Merritt Parkway.



The winding, leafy Merritt Parkway is celebrating its 70th birthday. Even though it has gone from an aesthete's dream to a motorist's nightmare, it's a grand old artery, and deserves a hearty cheer.




To the editor:


Regarding Chris Shays and his "yes" vote for the $700-million Wall Street bailout: I met Chris in Washington, D. C., several years ago, and know that he is an honorable and honest legislator who votes his conscience.


In this case he is wrong. Government entities (such as the Treasury Department) buying securities from Goldman Sachs and others is a losing trade. As a former investment banker, I guarantee that the government will get stuck with what may be worthless, while the smart private money will buy the valuable paper.


President Bush, Treasury Secretary Henry Paulson and the Democrats told us last week that the world was going to end on Monday if the bailout did not get passed by the weekend. Let's see: I am writing this on Tuesday, the market is back up 485 points and we are all still here.

How about Congress strengthening federal deposit insurance (which will bring a flood of deposits into the banks) and freezing the mark to market rule so that paper losses do not allow the government to seize more financial institutions? Then see how things are going before using the sledgehammer.


On Wall Street, traders know that they make huge profits when they stampede clients into bad trades. This is the mother of all stampedes, and the U.S. Treasury is the target. It was working until a hardy band of Republican and Democrat representatives said, "Wait a minute, is this the only strategy?"


They gave us a few more days to think this through.


However, there is so much money to be made that the pressure on them will become unbearable to do the bailout this week.


Chris Shays and the House of Representatives must not rush here; he and Congress must get this right. Give capitalism a chance. Wait until after the election. Use the tools that exist now to calm the markets.


Goldman Sachs partners will not like it, but Chris' voters might.


James Hann

Greenwich


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