Government is broken, and is completely corrupted. There is no other way short of breaking many laws and several commandments to fix the present state of our (formerly) great Nation.
In the wake of the House putting all their own selfish interests above doing anything for the Country. A true grass roots movement to get term limits in place is absolutely needed. Knowing that something like term limits is a long shot in the next (111th Congress), and an absence of rioting on the streets, we need to start with November. Everyone needs to vote for a third party candidate for Representative to the US House. The President won't make a difference in this effort. The only effective chance at making a change to Politics as usual is a concerted effort to remove ANY and ALL sitting House members. It is the only prayer that we have to start over and get it right. What a shame that our Republic has come to this charade of lies and deceit. We term limit our Presidents, it is now time to limit our House and Senate members. The dumbfu**s have forgotten they work for us and seem to think our Country is theirs to do as they wish. If we decide to send our Incumbent House members back to Washington we deserve the worst of what could befall us. The fate of this Country is now in our hands. It is certainly clear that Congress doesn't give a damn.
Monday, September 29, 2008
Saturday, September 27, 2008
Please, For the Sake of the Country, Just Quit!
Sarah Palin has once again proven that she is a complete moron and has no business being involved in National Politics. Whatever the possible reason McCain had for choosing her, his familiar line of “Country First” was not one of them. If he really wanted to put the Country First, he would have chosen a VP candidate that had some idea of what goes on outside of Alaska. She is officially beyond unqualified and has now become a National embarrassment. If she wanted to show an ounce of political fortitude and practical understanding, she would quit. Saving herself, her party, and her Country.
Here is a rambling excerpt from the Katie Couric interview. It just goes to show that inside her head is a vast emptiness that has been crammed full of talking points. However, no one had the sense to tell her when to use each point so they just get pushed out as one big vowel movement.
On whether the $700 billion bailout of the U.S. financial sector is a good idea.
“That’s why I say I, like every American I’m speaking with, we’re ill about this position that we have been put in where it is the taxpayers looking to bail out. But ultimately what the bailout does is help those who are concerned about the healthcare reform that is needed to help shore up our economy. Helping the—it’s got to be all about job creation too, shoring up our economy and putting it back on the right track. So health care reform and reducing taxes and reining in spending has got to accompany tax reductions and tax relief for Americans and trade—we’ve got to see trade as opportunity, not as competitive, scary thing, but one in five jobs being created in the trade sector today—we’ve got to look at that as more opportunity.”
The press has an obligation to hammer away at Ms. Palin’s qualifications. If it turns out that she has just had a few bad interviews because she was nervous or whatever, additional scrutiny will serve her well.
If, on the other hand, it becomes clear that her performance, so far, is an accurate reflection of her qualifications, it would behoove John McCain and the Republican Party to put the country first — as Mr. McCain loves to say — and find a replacement for Ms. Palin on the ticket.
Last Night's Debate
I do not like to really look for a winner and a loser from a Presidential debate. I really want to hear issues discussed. I want to know how candidates feel they differ and how they are alike. I thought that Jim Lehrer did a fine job of trying to get Obama and McCain talking to each other, discussing, not just throwing out sound bites. I will give Obama some credit for trying to do that. McCain just would not even look at Obama. Granted he would have had to look to his left, lol. McCain's sarcastic and bellicose nature emerged, immediately. McCain's refusal to make eye-contact with Obama, or even look his way, made it easy to imagine McCain's refusing to communicate, negotiate or compromise with foreign leaders with whom he was not already in full agreement.
I am afraid that Sarah Palin may be a heartbeat away from replacing Dr. Strangelove.
For those too young to remember, Dr. Strangelove or: How I Learned to Stop Worrying and Love the Bomb, a 1964 Stanley Kubrick film. The story concerns a mentally unstable US Air Force general who orders a first strike nuclear attack on the Soviet Union.
I did hear one of the news commentators observe that McCain never really talked about the future, everything had to do with the past. In addition,Obama seemed to talk about the future. It is something to consider.
The one real change I would like to see in these debates…let them all in; Barr, McCain, Nadar, Obama. Have at least one debate were they all can go at it no matter how crazy their ideas might be. The only prerequisite being that they would have to be on enough ballots to reach the 270 electoral votes needed. That does not even need to be every State. You really only need 12 States (CA,TX,NY,FL,IL,PA,OH,NJ,NC,GA,VA, and ANY one other). How is that for scary…
Here is a rambling excerpt from the Katie Couric interview. It just goes to show that inside her head is a vast emptiness that has been crammed full of talking points. However, no one had the sense to tell her when to use each point so they just get pushed out as one big vowel movement.
On whether the $700 billion bailout of the U.S. financial sector is a good idea.
“That’s why I say I, like every American I’m speaking with, we’re ill about this position that we have been put in where it is the taxpayers looking to bail out. But ultimately what the bailout does is help those who are concerned about the healthcare reform that is needed to help shore up our economy. Helping the—it’s got to be all about job creation too, shoring up our economy and putting it back on the right track. So health care reform and reducing taxes and reining in spending has got to accompany tax reductions and tax relief for Americans and trade—we’ve got to see trade as opportunity, not as competitive, scary thing, but one in five jobs being created in the trade sector today—we’ve got to look at that as more opportunity.”
The press has an obligation to hammer away at Ms. Palin’s qualifications. If it turns out that she has just had a few bad interviews because she was nervous or whatever, additional scrutiny will serve her well.
If, on the other hand, it becomes clear that her performance, so far, is an accurate reflection of her qualifications, it would behoove John McCain and the Republican Party to put the country first — as Mr. McCain loves to say — and find a replacement for Ms. Palin on the ticket.
Last Night's Debate
I do not like to really look for a winner and a loser from a Presidential debate. I really want to hear issues discussed. I want to know how candidates feel they differ and how they are alike. I thought that Jim Lehrer did a fine job of trying to get Obama and McCain talking to each other, discussing, not just throwing out sound bites. I will give Obama some credit for trying to do that. McCain just would not even look at Obama. Granted he would have had to look to his left, lol. McCain's sarcastic and bellicose nature emerged, immediately. McCain's refusal to make eye-contact with Obama, or even look his way, made it easy to imagine McCain's refusing to communicate, negotiate or compromise with foreign leaders with whom he was not already in full agreement.
I am afraid that Sarah Palin may be a heartbeat away from replacing Dr. Strangelove.
For those too young to remember, Dr. Strangelove or: How I Learned to Stop Worrying and Love the Bomb, a 1964 Stanley Kubrick film. The story concerns a mentally unstable US Air Force general who orders a first strike nuclear attack on the Soviet Union.
I did hear one of the news commentators observe that McCain never really talked about the future, everything had to do with the past. In addition,Obama seemed to talk about the future. It is something to consider.
The one real change I would like to see in these debates…let them all in; Barr, McCain, Nadar, Obama. Have at least one debate were they all can go at it no matter how crazy their ideas might be. The only prerequisite being that they would have to be on enough ballots to reach the 270 electoral votes needed. That does not even need to be every State. You really only need 12 States (CA,TX,NY,FL,IL,PA,OH,NJ,NC,GA,VA, and ANY one other). How is that for scary…
Friday, September 26, 2008
Brother, Can you Spare a Country?
One of the more frightening reports regarding this economic crisis has been that banks have refused to lend to one another because they do not trust that they would be paid back. Three months ago, the Administration was saying that everything was fine. This was just a glitch, and the fundamental economy was strong. What the F can you do in three months to completely cause a potential Global Catastrophe? All the signals are pointing to the Administration once again listening to lobbyists that are fighting to keep the government from imposing regulations on Wall Street. Politicians can no longer tell the truth, that is quite evident. They have been lying about the extent of the crisis for a year in the “hopes” that people would never find out. The system no longer works! We have to start over with new people. If it does not happen in this election cycle, I truly think we will see a meltdown of our complete way of life. This is not just a worst-case-scenario. That is a reasoned reality. The lawmakers can't even trust each other anymore, how are we, the
people, supposed to trust them now? It really is starting to feel like the end of an idea called The United States because it appears that it has been deemed we no longer know what is best for us and they do not trust each other, that is just great, was the whole thing, this USA,one big fraud from the beginning.
Then I wake to find out WaMu has been "seized" in the night along with all the assets and the shareholders are "out" WTF? A confidence crisis? They had better get their shit together before people start going for their lanterns and pitchforks!
After McCain said that he was headed back to Washington to “help” with the bailout package, most in Congress cringed. One (Republican, no less) Senator stated “He had spoken to Sen. Obama on the phone more in the last week, than he had spoken with Sen. McCain in the last two months”, This really illustrates a point I made earlier; John McCain is just to far behind the times to be an effective leader in the 21st Century. All of a sudden, McCain figures out, on Wednesday, that something is going on in Washington and I had better get there to say me too. Meanwhile, Henry Paulson, and Senate leaders are saying they have had ongoing contact with Obama via telephone and video conferences.
German Finance Minister Peer Steinbrueck said one outcome of the crisis would be a less dominant role for the United States in the global financial system. "The United States will lose its superpower status in the world financial system. The world financial system will become more multi-polar," he said.
He joined a growing chorus of international politicians who have blamed the United States for spawning the global financial crisis with a blind drive for higher profits and insufficient market regulation.
In decrying the lack of government regulation, France’s President Sarkozy joined a broad spectrum of European leaders and commentators who have interpreted the financial crisis as a death knell for the current financial markets and banking systems. Their comments sometimes have betrayed an "I told you so" sentiment, after years during which U.S. officials suggested that many of Europe's economic problems stemmed from an excess of regulation and government intervention.
French banks, in particular, have less to worry about than their U.S. counterparts, French officials have said, in part because regulatory powers are stronger in Europe than in the United States and the banks are less exposed to bad loans. The appropriate degree of state intervention in banking and financial dealings also has been a frequent subject of disagreement within the European Union. Those advocating more controls clearly have gained the upper hand for the time being.
"Self-regulation to solve all problems, it's finished," Sarkozy said. "Laissez-faire, it's finished. The all-powerful market that is always right, it's finished. . . . Self-regulation is sometimes insufficient. The market is sometimes wrong. Competition is sometimes ineffective or disloyal. It is necessary then for the state to intervene."
Some form of a crisis plan is needed (let us stop calling it a bailout for a while) that is one thing that seems perfectly clear. What is also becoming even clearer is the fact that Wall Street/Banking cannot be the overseers of the plan, and Congress is just to corrupt to watch over this as well. These are some ideas that I have found from everyday people that could work.
1] FED cannot receive any of the proceeds, which must be directed in total to Banks for their mortgages;
[2] No government agency can administer/manage the Assets;
[3] A Selection Committee of "say" Jack Welsh, Donald Trump, Warren Buffett, Steve Forbes and Bill Seidman will "select" 5-10 professional property management firms to handle the mortgaged properties.
[4] Property mgm't contracts will be incented for maximum returns to the "taxpayers". Additional rewards will result from competitive standings of the actual returns from each firm;
[5] Any fraud found during the asset procurement & sale cycle must be prosecuted. Greed, which threatens America, can no longer go unpunished! Enforce Title 8 and Title 11 of Sarbanes/Oxley.
I keep harping on the fact that lobbyists have caused so much of this problem. Here is what will (and should) happen if things do not turn around soon. People in Washington D.C., the real people not politicians, will have less than they already do. Anger and resentment will increase. What I would like to see is that anger focused. Take your rage out on “K” Street, burn it to the ground, flush the lobbyists out like the vermin they are. If we do not GET RID of lobbyists, Congress will remain corrupt and there will be a Global Economic meltdown. People will be on the street, begging, “Brother Can you spare a dime”, and they will look for revenge. And I will be there with maps to “K Street”…
people, supposed to trust them now? It really is starting to feel like the end of an idea called The United States because it appears that it has been deemed we no longer know what is best for us and they do not trust each other, that is just great, was the whole thing, this USA,one big fraud from the beginning.
Then I wake to find out WaMu has been "seized" in the night along with all the assets and the shareholders are "out" WTF? A confidence crisis? They had better get their shit together before people start going for their lanterns and pitchforks!
After McCain said that he was headed back to Washington to “help” with the bailout package, most in Congress cringed. One (Republican, no less) Senator stated “He had spoken to Sen. Obama on the phone more in the last week, than he had spoken with Sen. McCain in the last two months”, This really illustrates a point I made earlier; John McCain is just to far behind the times to be an effective leader in the 21st Century. All of a sudden, McCain figures out, on Wednesday, that something is going on in Washington and I had better get there to say me too. Meanwhile, Henry Paulson, and Senate leaders are saying they have had ongoing contact with Obama via telephone and video conferences.
German Finance Minister Peer Steinbrueck said one outcome of the crisis would be a less dominant role for the United States in the global financial system. "The United States will lose its superpower status in the world financial system. The world financial system will become more multi-polar," he said.
He joined a growing chorus of international politicians who have blamed the United States for spawning the global financial crisis with a blind drive for higher profits and insufficient market regulation.
In decrying the lack of government regulation, France’s President Sarkozy joined a broad spectrum of European leaders and commentators who have interpreted the financial crisis as a death knell for the current financial markets and banking systems. Their comments sometimes have betrayed an "I told you so" sentiment, after years during which U.S. officials suggested that many of Europe's economic problems stemmed from an excess of regulation and government intervention.
French banks, in particular, have less to worry about than their U.S. counterparts, French officials have said, in part because regulatory powers are stronger in Europe than in the United States and the banks are less exposed to bad loans. The appropriate degree of state intervention in banking and financial dealings also has been a frequent subject of disagreement within the European Union. Those advocating more controls clearly have gained the upper hand for the time being.
"Self-regulation to solve all problems, it's finished," Sarkozy said. "Laissez-faire, it's finished. The all-powerful market that is always right, it's finished. . . . Self-regulation is sometimes insufficient. The market is sometimes wrong. Competition is sometimes ineffective or disloyal. It is necessary then for the state to intervene."
Some form of a crisis plan is needed (let us stop calling it a bailout for a while) that is one thing that seems perfectly clear. What is also becoming even clearer is the fact that Wall Street/Banking cannot be the overseers of the plan, and Congress is just to corrupt to watch over this as well. These are some ideas that I have found from everyday people that could work.
1] FED cannot receive any of the proceeds, which must be directed in total to Banks for their mortgages;
[2] No government agency can administer/manage the Assets;
[3] A Selection Committee of "say" Jack Welsh, Donald Trump, Warren Buffett, Steve Forbes and Bill Seidman will "select" 5-10 professional property management firms to handle the mortgaged properties.
[4] Property mgm't contracts will be incented for maximum returns to the "taxpayers". Additional rewards will result from competitive standings of the actual returns from each firm;
[5] Any fraud found during the asset procurement & sale cycle must be prosecuted. Greed, which threatens America, can no longer go unpunished! Enforce Title 8 and Title 11 of Sarbanes/Oxley.
I keep harping on the fact that lobbyists have caused so much of this problem. Here is what will (and should) happen if things do not turn around soon. People in Washington D.C., the real people not politicians, will have less than they already do. Anger and resentment will increase. What I would like to see is that anger focused. Take your rage out on “K” Street, burn it to the ground, flush the lobbyists out like the vermin they are. If we do not GET RID of lobbyists, Congress will remain corrupt and there will be a Global Economic meltdown. People will be on the street, begging, “Brother Can you spare a dime”, and they will look for revenge. And I will be there with maps to “K Street”…
Saturday, September 20, 2008
The Recent Past Shows why the Present Mess
This is a USA TODAY article from 6-28-2005. This shows just another way we arrived where we are today, bad decisions, hubris and Washington as usual. Still at the core of the mess…lobbyists.
Big contributors to GOP reap big post-election rewards
By Jim Drinkard, USA TODAYWASHINGTON — Just six months into a new term for President Bush and the Republican-controlled Congress, some of their heaviest donors are scoring victories on the legislative and regulatory fronts.From rewrites of the laws governing bankruptcy and class-action lawsuits to relief for oil, timber and tobacco interests, GOP supporters who gave millions of dollars last year are reaping decisions worth billions from a Congress with more Republicans.
"Clearly, the election outcome has helped," says Bruce Josten, executive vice president of the U.S. Chamber of Commerce. "We are heading in the right direction. A lot more has been done by this time in a new session than usual."
While much public attention has been focused on Bush's sputtering effort to sell an overhaul of Social Security, legislation long sought by the GOP and its business allies have been enacted with bipartisan support. In February, Congress passed and Bush signed a bill that sharply limits class-action lawsuits. The savings will likely come to several billion dollars a year, says Russ Sutter of Tillinghast-Towers Perrin, an actuarial firm that studies tort costs.
The business sector that includes manufacturing and retail was among top GOP donors last election cycle. It directed three of every five political dollars to Republicans — almost $121 million, according to the non-partisan Center for Responsive Politics.
There was a similar partisan tilt in political giving by the finance industry, which won passage in April of a law making it harder to erase debts by declaring bankruptcy. Credit card companies and banks sought the change as a way to collect more debts.
The finance sector gave nearly $195 million to the GOP in the 2004 elections. And 105 of Bush's 548 elite fundraisers — those who raised $100,000 or more — were from the world of finance, making it his biggest base of top-dollar support, at $34 million.
"Many of the traditional business supporters are really getting the agenda they wanted, and it seems to be speeding up," says Larry Noble, director of the Center for Responsive Politics, which studies the impact of money on politics.
Still to come: Congress is pushing to complete an energy bill. Business interests want limits on liability for water contamination caused by MTBE, a fuel additive designed to reduce auto emissions, and oil companies seek to open the Arctic National Wildlife Refuge to drilling. The Senate passed its version Tuesday.
Bush supporters also have had good luck outside the legislative arena:
• Justice Department lawyers this month abruptly scaled back their request for a penalty in the government's lawsuit against tobacco companies. Rather than the 25-year, $130 billion smoking cessation program their own expert had recommended, they are asking for a $14 billion remedy. The tobacco industry favored Republicans three-to-one over Democrats last year, giving $2.7 million to the party and its candidates.
The Justice Department's Office of Professional Responsibility is looking into whether politics influenced the decision.
• After Securities and Exchange Commission Chairman William Donaldson resigned under fire from business groups who complained about overzealous regulation, Bush replaced him with someone with a pro-corporate record: Rep. Christopher Cox, R-Calif.
"It's hard to imagine somebody with a more nakedly deregulatory agenda," says William Lerach, a trial lawyer who has brought shareholder lawsuits against corporations accused of securities fraud. Securities and investment firms gave $47.8 million to Republicans last election.
• The administration last month reversed a ban on road construction, timber harvesting, mining and energy development on undeveloped national forest land. The government also has expanded oil and gas development on federal lands, including areas in New Mexico and Wyoming.
Energy and natural resources interests gave $39.3 million to the GOP last year, three times the amount given to Democrats.
Big contributors to GOP reap big post-election rewards
By Jim Drinkard, USA TODAYWASHINGTON — Just six months into a new term for President Bush and the Republican-controlled Congress, some of their heaviest donors are scoring victories on the legislative and regulatory fronts.From rewrites of the laws governing bankruptcy and class-action lawsuits to relief for oil, timber and tobacco interests, GOP supporters who gave millions of dollars last year are reaping decisions worth billions from a Congress with more Republicans.
"Clearly, the election outcome has helped," says Bruce Josten, executive vice president of the U.S. Chamber of Commerce. "We are heading in the right direction. A lot more has been done by this time in a new session than usual."
While much public attention has been focused on Bush's sputtering effort to sell an overhaul of Social Security, legislation long sought by the GOP and its business allies have been enacted with bipartisan support. In February, Congress passed and Bush signed a bill that sharply limits class-action lawsuits. The savings will likely come to several billion dollars a year, says Russ Sutter of Tillinghast-Towers Perrin, an actuarial firm that studies tort costs.
The business sector that includes manufacturing and retail was among top GOP donors last election cycle. It directed three of every five political dollars to Republicans — almost $121 million, according to the non-partisan Center for Responsive Politics.
There was a similar partisan tilt in political giving by the finance industry, which won passage in April of a law making it harder to erase debts by declaring bankruptcy. Credit card companies and banks sought the change as a way to collect more debts.
The finance sector gave nearly $195 million to the GOP in the 2004 elections. And 105 of Bush's 548 elite fundraisers — those who raised $100,000 or more — were from the world of finance, making it his biggest base of top-dollar support, at $34 million.
"Many of the traditional business supporters are really getting the agenda they wanted, and it seems to be speeding up," says Larry Noble, director of the Center for Responsive Politics, which studies the impact of money on politics.
Still to come: Congress is pushing to complete an energy bill. Business interests want limits on liability for water contamination caused by MTBE, a fuel additive designed to reduce auto emissions, and oil companies seek to open the Arctic National Wildlife Refuge to drilling. The Senate passed its version Tuesday.
Bush supporters also have had good luck outside the legislative arena:
• Justice Department lawyers this month abruptly scaled back their request for a penalty in the government's lawsuit against tobacco companies. Rather than the 25-year, $130 billion smoking cessation program their own expert had recommended, they are asking for a $14 billion remedy. The tobacco industry favored Republicans three-to-one over Democrats last year, giving $2.7 million to the party and its candidates.
The Justice Department's Office of Professional Responsibility is looking into whether politics influenced the decision.
• After Securities and Exchange Commission Chairman William Donaldson resigned under fire from business groups who complained about overzealous regulation, Bush replaced him with someone with a pro-corporate record: Rep. Christopher Cox, R-Calif.
"It's hard to imagine somebody with a more nakedly deregulatory agenda," says William Lerach, a trial lawyer who has brought shareholder lawsuits against corporations accused of securities fraud. Securities and investment firms gave $47.8 million to Republicans last election.
• The administration last month reversed a ban on road construction, timber harvesting, mining and energy development on undeveloped national forest land. The government also has expanded oil and gas development on federal lands, including areas in New Mexico and Wyoming.
Energy and natural resources interests gave $39.3 million to the GOP last year, three times the amount given to Democrats.
Friday, September 19, 2008
McCain's a Freakin Liar!
This quote is from John McCain’s speech today in Green Bay, WI. regarding the economy.
“Two years ago, I called for reform of this corruption at Fannie Mae and Freddie Mac. Congress did nothing. The Administration did nothing. Senator Obama did nothing, and actually profited from this system of abuse and scandal.”
Here are the facts, direct from the Congressional Record.
January 26, 2005
By Mr. HAGEL (for himself, Mr. SUNUNU, and Mrs. DOLE):
S . 190 . A bill to address the regulation of secondary mortgage market enterprises, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs.
Then over a year later McCain becomes a co-sponsor to the bill and submits a “speech” to the Congressional Record that he never actually gave (done all the time in Congress. Called Revise and Extending remarks.)
May 26, 2006
S . 190
At the request of Mr. HAGEL, the name of the Senator from Arizona (Mr. MCCAIN) was added as a cosponsor of S . 190, a bill to address the regulation of secondary mortgage market enterprises, and for other purposes.
The truth of the matter is that John McCain, at the request of Chuck Hagel, became a co-sponsor of a bill that was going nowhere in the Senate; in early 2006 Republicans thought Chuck Hagel was going to run for President and McCain was trying to get onto anything that Hagel did, so he could say “me too”. BECAUSE six months later John McCain was announcing he was running for President.
I really wanted Obama to choose Chuck Hagel for his VP choice, but it didn’t work out that way. Nevertheless, I would suspect that Hagel ends up in an Obama administration (if he won).
I know that politicians don’t tell the truth most of the time. But McCain, besides being just unintelligent, can’t seem to tell the truth EVER. I’m now leaning toward “anyone else” on the ballot in November. However, the absolute clear thing to me is McCain cannot be allowed to win. It will be the economic ruination of our Country. John McCain just does not have the smarts needed, nor the years left in him (and President Palin scares the living crap out of me), to be able to guide this Country.
“Two years ago, I called for reform of this corruption at Fannie Mae and Freddie Mac. Congress did nothing. The Administration did nothing. Senator Obama did nothing, and actually profited from this system of abuse and scandal.”
Here are the facts, direct from the Congressional Record.
January 26, 2005
By Mr. HAGEL (for himself, Mr. SUNUNU, and Mrs. DOLE):
S . 190 . A bill to address the regulation of secondary mortgage market enterprises, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs.
Then over a year later McCain becomes a co-sponsor to the bill and submits a “speech” to the Congressional Record that he never actually gave (done all the time in Congress. Called Revise and Extending remarks.)
May 26, 2006
S . 190
At the request of Mr. HAGEL, the name of the Senator from Arizona (Mr. MCCAIN) was added as a cosponsor of S . 190, a bill to address the regulation of secondary mortgage market enterprises, and for other purposes.
The truth of the matter is that John McCain, at the request of Chuck Hagel, became a co-sponsor of a bill that was going nowhere in the Senate; in early 2006 Republicans thought Chuck Hagel was going to run for President and McCain was trying to get onto anything that Hagel did, so he could say “me too”. BECAUSE six months later John McCain was announcing he was running for President.
I really wanted Obama to choose Chuck Hagel for his VP choice, but it didn’t work out that way. Nevertheless, I would suspect that Hagel ends up in an Obama administration (if he won).
I know that politicians don’t tell the truth most of the time. But McCain, besides being just unintelligent, can’t seem to tell the truth EVER. I’m now leaning toward “anyone else” on the ballot in November. However, the absolute clear thing to me is McCain cannot be allowed to win. It will be the economic ruination of our Country. John McCain just does not have the smarts needed, nor the years left in him (and President Palin scares the living crap out of me), to be able to guide this Country.
Thursday, September 18, 2008
How About a New Treasury Secretary
Well at least McDonalds is doing better this morning! With the introduction of the - "The Freddie Mac " with 2 subprime beef patties, a special sauce made from borrowed items but is a real asset to this sandwich, lettuce and cheese from a merger of another sandwich, but there is a rumor that the cheese may be forced out in a cost cutting move. The best part is if you buy it and don't like it, Paulson will buy it from you.
I would like to introduce you to someone that has had the solution to many of our problems, but no one would listen.
David M Walker
As Comptroller General of the United States and head of the Government Accountability Office (GAO) from 1998 to 2008, spanning both Democratic and Republican administrations, Dave served as the federal government's chief auditor. Appointed by President Bill Clinton and confirmed unanimously by the US Senate, he was an outspoken, nonpartisan advocate for addressing the major fiscal and other sustainability challenges facing the country. He also enacted transformational reforms at the agency and within the accountability profession.
Walker has compared the present-day United States with the Roman Empire in its decline, saying the U.S. government is on a "burning platform" of unsustainable policies and practices with fiscal deficits, expensive over commitments to government provided health care, swelling Medicare costs, the enormous expense of a prospective universal health care system, immigration, and overseas military commitments threatening a crisis if action is not taken soon. He has also noted that U.S. can and must turn things around.
Walker has actively taken a public stance against the running of massive federal budget deficits and accumulation of public debt. He has participated in numerous town hall meetings around the country organized by the Concord Coalition known as the "Fiscal Wake-Up Tour." This has consisted of a series of trips across the country with representatives from the Concord Coalition and scholars from the Brookings Institution and the Heritage Foundation. Walker is also the main subject of a new documentary that EVERYONE should see titled “I O U S A” Preview the trailer here http://www.youtube.com/watch?v=HBo2xQIWHiM
I know it is only playing at limited theaters and those tend to be the small independents, but if you find it in your area SEE IT. It is only one and a half hours so it is a short time to take to see some truth on America’s financial health. I am sure it will be on Netflix or Blockbuster soon as well.
I wonder what the chances that we could get whoever wins the Presidential beauty contest to make Mr. Walker the Treasury Secretary. Henry Paulson has done what is needed as a firefighter, and hopefully his actions will not come back to bite us in the arse. However, going forward the economy is going to need a real different kind of leadership. It will not be pretty but it will be necessary to reduce our debt and reign in spending. Mr. Walker has been trying to do that for many years but prior to the last few weeks no one in government wanted to believe. It is always said that American’s have very short memories when it comes to crises. We want to see the next celebrity without their panties on. Nevertheless, this time the economy and the very State of our Union are at stake. A short memory could mean the difference between Global Depression or just a painful recovery. Presently David Walker is the head of the Peter G. Peterson Foundation http://www.pgpf.org/ As President and CEO of the Foundation, Dave is now free to do what he wasn't able to do while running the Government Accountability Office: advocate for specific solutions, work proactively with grantees and other partners to build strong coalitions, and encourage and engage in grassroots efforts to bring pressure on Washington to act. If he is willing to leave there and give it a try I think he could do the job…if Congress will just listen, and lobbyists will just leave.
I would like to introduce you to someone that has had the solution to many of our problems, but no one would listen.
David M Walker
As Comptroller General of the United States and head of the Government Accountability Office (GAO) from 1998 to 2008, spanning both Democratic and Republican administrations, Dave served as the federal government's chief auditor. Appointed by President Bill Clinton and confirmed unanimously by the US Senate, he was an outspoken, nonpartisan advocate for addressing the major fiscal and other sustainability challenges facing the country. He also enacted transformational reforms at the agency and within the accountability profession.
Walker has compared the present-day United States with the Roman Empire in its decline, saying the U.S. government is on a "burning platform" of unsustainable policies and practices with fiscal deficits, expensive over commitments to government provided health care, swelling Medicare costs, the enormous expense of a prospective universal health care system, immigration, and overseas military commitments threatening a crisis if action is not taken soon. He has also noted that U.S. can and must turn things around.
Walker has actively taken a public stance against the running of massive federal budget deficits and accumulation of public debt. He has participated in numerous town hall meetings around the country organized by the Concord Coalition known as the "Fiscal Wake-Up Tour." This has consisted of a series of trips across the country with representatives from the Concord Coalition and scholars from the Brookings Institution and the Heritage Foundation. Walker is also the main subject of a new documentary that EVERYONE should see titled “I O U S A” Preview the trailer here http://www.youtube.com/watch?v=HBo2xQIWHiM
I know it is only playing at limited theaters and those tend to be the small independents, but if you find it in your area SEE IT. It is only one and a half hours so it is a short time to take to see some truth on America’s financial health. I am sure it will be on Netflix or Blockbuster soon as well.
I wonder what the chances that we could get whoever wins the Presidential beauty contest to make Mr. Walker the Treasury Secretary. Henry Paulson has done what is needed as a firefighter, and hopefully his actions will not come back to bite us in the arse. However, going forward the economy is going to need a real different kind of leadership. It will not be pretty but it will be necessary to reduce our debt and reign in spending. Mr. Walker has been trying to do that for many years but prior to the last few weeks no one in government wanted to believe. It is always said that American’s have very short memories when it comes to crises. We want to see the next celebrity without their panties on. Nevertheless, this time the economy and the very State of our Union are at stake. A short memory could mean the difference between Global Depression or just a painful recovery. Presently David Walker is the head of the Peter G. Peterson Foundation http://www.pgpf.org/ As President and CEO of the Foundation, Dave is now free to do what he wasn't able to do while running the Government Accountability Office: advocate for specific solutions, work proactively with grantees and other partners to build strong coalitions, and encourage and engage in grassroots efforts to bring pressure on Washington to act. If he is willing to leave there and give it a try I think he could do the job…if Congress will just listen, and lobbyists will just leave.
Wednesday, September 17, 2008
For What Price is Socialism?
$900,000,000,000.00 that is $900 Billion dollars. That is how much the US Government has spent bailing out companies this year. Moreover, it may not include the sneaky little deal they did with at least $87 billion in repayments to JPMorgan Chase & Co for providing financing to underpin trades with units of bankrupt investment bank Lehman Brothers.
A few years ago, I was having a discussion with some people regarding politics, economy, etc. I had opined that I thought the future economy in America was going to look much more like the European Quasi-Socialist model in my lifetime. Most of the Conservatives balked at that idea. They said that Wall Street would never allow it to happen. Well, as it turns out, not only has Wall Street allowed it to happen…they are begging for it to happen. Socialism is happening in this Country, though no one wants to use those words because it will really freak out Americans. That is what is happening. The Government will call it bailouts, loans, assistance, etc but we have Nationalized $900 BILLION of our financial system. I thought it might happen , I kind of expected it to happen, in order to compete in a world economy; I just never thought it would be Republicans to do it.
However, it would appear that the final nail in the economic coffin is just being hammered. Now the Fed is asking the Treasury to bail it out with some capital. So now, not only is the fox watching the chicken coup, it's asking the chickens to sharpen the axe. I like the last quote in the story where a Treasury official says it is to “help them better manage their balance sheet”. Kind of like the same words, we have been hearing from Wall Street firms a few days before they go under.
WASHINGTON (Reuters) - The U.S. Treasury Department quickly put a new special financing facility to work on Wednesday, raising money for the Federal Reserve to use in a costly bid to rescue crumbling U.S. financial institutions.
Just minutes after unveiling the financing program, Treasury said it would sell $40 billion of cash management bills -- essentially a fresh batch of debt -- on Wednesday at the U.S. central bank's request as part of what a Treasury official called an attempt to "help them better manage their balance sheet."
This particular rule has been on the books for at least 10 years. The SEC has decided, today, to enforce the rule. WOW! It only took them this long to figure out how much of an impact it was taking on the economy.
The government took other measures Tuesday to help alleviate the turmoil in the markets. The Treasury said it will start selling bonds for the Fed to aid it with its lending efforts, while the Securities and Exchange Commission said it will strictly prohibit naked short-selling starting Thursday.
Short-selling is when traders borrow shares of a stock they expect to fall and sell them — if the stock does indeed fall, the traders buy the cheaper shares to cover the borrowed ones and profit from the difference. Naked short-selling occurs when sellers don't actually borrow the shares before selling them; it's a practice some say is partially responsible for the huge drop in the shares of investment banks like Lehman, Merrill Lynch and Bear Stearns Cos., which JPMorgan Chase & Co. bought earlier this year.
As President Herbert Hoover wrote in his memoir regarding speculation: "There are crimes worse than murder for which men should be reviled and punished." Among them are inaction when our entire nation desperately needs a sign that Washington understands the true dimension of the problem.
I have known some Wall Streeters, and a few of them, by there own admission, have no idea what the rest of the country is about. They see Wall Street (and Manhattan) as the end of the earth. Well now that they are out of jobs, they may want to get out and see the rest of the Country. There are tons of jobs in Middle America that need to be filled, some of them presently held by illegal aliens that people seem to complain about, although not as much anymore….
A few years ago, I was having a discussion with some people regarding politics, economy, etc. I had opined that I thought the future economy in America was going to look much more like the European Quasi-Socialist model in my lifetime. Most of the Conservatives balked at that idea. They said that Wall Street would never allow it to happen. Well, as it turns out, not only has Wall Street allowed it to happen…they are begging for it to happen. Socialism is happening in this Country, though no one wants to use those words because it will really freak out Americans. That is what is happening. The Government will call it bailouts, loans, assistance, etc but we have Nationalized $900 BILLION of our financial system. I thought it might happen , I kind of expected it to happen, in order to compete in a world economy; I just never thought it would be Republicans to do it.
However, it would appear that the final nail in the economic coffin is just being hammered. Now the Fed is asking the Treasury to bail it out with some capital. So now, not only is the fox watching the chicken coup, it's asking the chickens to sharpen the axe. I like the last quote in the story where a Treasury official says it is to “help them better manage their balance sheet”. Kind of like the same words, we have been hearing from Wall Street firms a few days before they go under.
WASHINGTON (Reuters) - The U.S. Treasury Department quickly put a new special financing facility to work on Wednesday, raising money for the Federal Reserve to use in a costly bid to rescue crumbling U.S. financial institutions.
Just minutes after unveiling the financing program, Treasury said it would sell $40 billion of cash management bills -- essentially a fresh batch of debt -- on Wednesday at the U.S. central bank's request as part of what a Treasury official called an attempt to "help them better manage their balance sheet."
This particular rule has been on the books for at least 10 years. The SEC has decided, today, to enforce the rule. WOW! It only took them this long to figure out how much of an impact it was taking on the economy.
The government took other measures Tuesday to help alleviate the turmoil in the markets. The Treasury said it will start selling bonds for the Fed to aid it with its lending efforts, while the Securities and Exchange Commission said it will strictly prohibit naked short-selling starting Thursday.
Short-selling is when traders borrow shares of a stock they expect to fall and sell them — if the stock does indeed fall, the traders buy the cheaper shares to cover the borrowed ones and profit from the difference. Naked short-selling occurs when sellers don't actually borrow the shares before selling them; it's a practice some say is partially responsible for the huge drop in the shares of investment banks like Lehman, Merrill Lynch and Bear Stearns Cos., which JPMorgan Chase & Co. bought earlier this year.
As President Herbert Hoover wrote in his memoir regarding speculation: "There are crimes worse than murder for which men should be reviled and punished." Among them are inaction when our entire nation desperately needs a sign that Washington understands the true dimension of the problem.
I have known some Wall Streeters, and a few of them, by there own admission, have no idea what the rest of the country is about. They see Wall Street (and Manhattan) as the end of the earth. Well now that they are out of jobs, they may want to get out and see the rest of the Country. There are tons of jobs in Middle America that need to be filled, some of them presently held by illegal aliens that people seem to complain about, although not as much anymore….
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