At least for now the bailout , which I thought was a done deal has been voted down. I'm thrilled. I fear that it will eventually pass in some modified version. The fat cats will still get their $ and the tax payer will still get the shaft. However this is not why I am writing this entry. I'm writing this entry to say, "Nancy Pulosi, would you please shut the F#$% up! Jesus woman . . . I swear to God your bipartisan vitriol on the floor of the house only serves to drive a wedge between the two parties and negates any progress a Democratic controlled congress can make. You your self just days ago called for both parties to put aside partisan politics and vote for this ridiculous bail out. What's with the Republican condemnation speech today?
No. 1. Shame on you and Harry Reed for buying into any proposed legislation put forth by a lame duck president and treasury secretary with a little over 90 days left. You don't find it the least bit curious that elections are right around the corner?
No. 2. If you really think it's such a good idea. ( which astounds me) Quit pissing off the very people you need to vote with you on it. I think maybe your face lift was a little too tight and it's cutting off oxygen to your brain.
No. 3 Please stop with the scolding mother routine: "Wall Street your days of no oversight and Golden Parachutes for CEO's of failed businesses are over!" In case you haven't been paying attention, every single one of those assholes that got us into this mess are going to receive their compensation, their golden parachute, and their bonuses. (For instance: Alan Fishman, former CEO of Washingtom Mutual: after just 432 hours on the job -- during which time he presided over the complete collapse of the company -- stands to collect more than $19 million in pay.) The bill only prevents future failed business CEO from receiving more than $500,000 from the tax payer. And as of yet has no protection for the foreclosed home buyer. So, please Mom, quit with the "you're grounded young man" rhetoric.
In closing I'd just like to say to Reed, Pulosi, McCain, Obama, and anybody else who votes for this asinine bailout . . . WHERE'S MY FLYING CAR????!!!!
DaG out
Monday, September 29, 2008
Saturday, September 27, 2008
Friday Night Fights
In case you missed it. There was a middle weight bout last night. Both camps claim victory:
As I see it. If you're a McCain supporter you think McCain won. If you're an Obama supporter you think Obama won. If you're undecided I suggest you read this fair and unbalanced account of the contest.
In the Red corner . . . standing 5' 9" tall, weighing 164 lbs John "the Maverick" McCaiaiaiaiaiaiannnnnnn!
In the blue corner . . . standing 6 and 1/2 feet tall weighing , uh ah oh I'd say anywhere from about 165 lbs to 170lbs (couldn't find any documentation) Barack "the Rock" Oooobamaaaaaaaa!
This is scheduled for 9 rounds but for time considerations we may only report on 8 of them.
Ding!!! And there's the bell!
round 1:
The question is: Where do you stand on the financial recovery plan?
Obama takes initiative and begins to bob and weave his way around the ring. He's stating the problem but, he doesn't seem to be taking the fight to McCain. Oh! He just gave McCain a little Ali like flip of a jab saying that the past 8 years of failed economic policies were supported by Senator McCain.
McCain counters with more bobbing and weaving, painting a gloomy economic picture but not really answering the question. So the referee steps in and asks the question again. Where do you stand on the financial recovery plan???
Obama continues to bob and weave saying that he hasn't seen the language yet so he doesn't know how he'll vote. McCain seizes his opportunity and says yes he's going to vote for it. Obama steps it up a little, he takes a jab at McCain calls him "John" . . . kind've luring him in and then catches McCain with a left, "10 days ago, John said that the fundamentals of the economy are sound."
Oooh that stung. Now McCain begins bobbing and weaving a vision of how this country under the right leadership will be so much better.
Hmmmm neither fighter seems to want to win this thing.
Uh oh wait a minute I spoke too soon. McCain is measuring Obama, "We have former members of Congress now residing in federal prison because of the evils of this earmarking and pork-barrel spending. Now, Senator Obama, you wanted to know one of the differences. a million dollars for every day that he's been in the United States Senate."
Oh!! A smashing right cross and that hurt Obama! He's trying to get back to the fundamentals . . . Yes Yes he's countering with a flurry of lefts about "tax cuts for the wealthy and corporations." but, they're really just glancing blows. None of which are connecting with the judges.
Whoah!! McCain just connected with another right "Now, Senator Obama didn't mention that, along with his tax cuts, he is also proposing some $800 billion in new spending on new programs." Obama has got to start fighting back or he's going to lose this thing on points.
Oh my God! McCain just landed an upper cut comparing our current corporate tax rate with that of Ireland. Oh, he likes that Irish style of corporate taxation. It's very low.
Obama isn't really attacking he's still bobbing and weaving occasionaly sticking the jab like Ali. "There are so many loopholes that have been written into the tax code, oftentimes with support of Senator McCain, that we actually see our businesses pay effectively one of the lowest tax rates in the world. " A good point but his punches just don't seem to have the same impact as does McCain's.
Round 2: What would you do to solve the financial crisis?
Uh oh! McCain's coming out swinging. " . . . this is a classic example of walking the walk and talking the talk. We had an energy bill before the United States Senate. It was festooned with Christmas tree ornaments. It had all kinds of breaks for the oil companies, I mean, billions of dollars worth. I voted against it; Senator Obama voted for it. He has voted in the United States Senate to increase taxes on people who make as low as $42,000 a year. "
Oh, What a flurry!!! Although Obama's claiming that that last statement was a low blow! The ref hasn't stepped in. Obama's still complaining but McCain is starting to let the rights fly. " . . .you gave the tax breaks to the oil companies."
Mostly posturing and platitudes for most of the round. . . a lot of clinching Neither fighter wasnts give the other an opening.
And there's the bell ending round two.
Round 3: McCain jabs with the tried and true "liberal" demonization. "Senator Obama has the most liberal voting record in the United States Senate. It's hard to reach across the aisle from that far to the left."
Oh Obama counters with a great shot: "John mentioned me being wildly liberal. Mostly that's just me opposing George Bush's wrong headed policies."
Not much action now. Both fighters seem to be content with spouting a bunch facts and figures concerning government spending and financing. Hold on. Obama just caught McCain off guard.
"John, it's been your president who you said you agreed with 90 percent of the time who presided over this increase in spending. This orgy of spending and enormous deficits you voted for almost all of his budgets." Nice left to the already swollen jaw of McCain. "So to stand here and after eight years and say that you're going to lead on controlling spending and, you know, balancing our tax cuts so that they help middle class families when over the last eight years that hasn't happened I think just is, you know, kind of hard to swallow." Wow! That hurt the veteran.
McCain has got to shake out the cob webs. " . . . I'm happy to say that I've got a partner that's a good maverick along with me now." Uh oh, obviously McCain is hurt worse than we thought. I think he needs to abandon this line of attack. It's all style . . .very little substance and it could get McCain into a lot of trouble.
Round 4: Lessons learned from Iraq. Both fighters are mixing it up pretty good here. Obama harking back on why we're there in the first place while McCain is saying that's water under the bridge. America can't afford to lose this war. Obama counters with Iraq is the wrong war. McCain throws several rights about Obama's support of the troops and refusal to admit that the surge has worked. Obama covers up and deflects most of the punches. Now he's leaning against the ropes, is he suckering McCain in like Ali's famous "rope-a-dope"? McCain unleashes a flurry, "Senator Obama didn't go to Iraq for 900 days. I went there and I spoke to our troops. They said, let us win. They said, let us win. We don't want our kids coming back here."
Oh!! Now Obama's complaining of another low blow! He's got to get out of there! He's got to fight back!! Obama deflects some of McCain's punches with the fact that we took our eye of the Bin Laden ball in Afghanistan but, it doesn't appear to be doing a lot of damage.
Until Obama unleashes this flurry: John, you like to pretend like the war started in 2007. You talk about the surge. The war started in 2003, and at the time when the war started, you said it was going to be quick and easy. You said we knew where the weapons of mass destruction were. You were wrong. You said that we were going to be greeted as liberators. You were wrong. You said that there was no history of violence between Shiite and Sunni. And you were wrong.
McCain is visibly shaken. He's hurt. He's got to mount some kind of attack or he'll surely lose this round. Out of sheer desperation comes this blow to Obama's mid section.
"Admiral Mullen suggests that Senator Obama's plan is dangerous for America."
Obama is complaining of another Low blow! "That's not the case."
MCCAIN: That's what ...
OBAMA: What he said was a precipitous...
MCCAIN: That's what Admiral Mullen said.
OBAMA: ... withdrawal would be dangerous. He did not say that. That's not true.
And there's the bell ending a tumultuous round 4
We'll be right back with round 5 of this fight after a word from our sponsors. . .
"Beer!"
Round 5: Not a lot of offense in the beginning of this round. Both fighters are committed to putting more troops in Afghanistan. The referee has to break the clinches and tell the fighters to mix it up. McCain obliges with a stiff jab. " Senator Obama calls for more troops, but what he doesn't understand, it's got to be a new strategy, the same strategy that he condemned in Iraq."
Regarding Pakistan: McCains continues to be aggressive, "We've got to get the support of the people of -- of Pakistan. He said that he would launch military strikes into Pakistan. And I guarantee you I would not publicly state that I'm going to attack them."
Obama counters, "Nobody talked about attacking Pakistan. We've got a choice. We could allow our troops to just be on the defensive and absorb those blows again and again and again, if Pakistan is unwilling to cooperate, or we have to start making some decisions."
The action is heating up. Ooh, McCain lands another blow to Obama's readiness to lead, "I don't think that Senator Obama understands . . ."
Oh wow! McCain just followed up with the mother of the dead soldier, not wanting her son's death to be in vain. He's even wearing the bracelet she gave him! How is Obama ever going to get out of this? What????!!! You've got to be kidding me! Obama's got a bracelet from another dead soldier's mom who wants the war to end!! In all my years of covering fights I have never seen counter punch as effective as what I just witnessed. Oh, the sweet science.
As I see it. If you're a McCain supporter you think McCain won. If you're an Obama supporter you think Obama won. If you're undecided I suggest you read this fair and unbalanced account of the contest.
In the Red corner . . . standing 5' 9" tall, weighing 164 lbs John "the Maverick" McCaiaiaiaiaiaiannnnnnn!
In the blue corner . . . standing 6 and 1/2 feet tall weighing , uh ah oh I'd say anywhere from about 165 lbs to 170lbs (couldn't find any documentation) Barack "the Rock" Oooobamaaaaaaaa!
This is scheduled for 9 rounds but for time considerations we may only report on 8 of them.
Ding!!! And there's the bell!
round 1:
The question is: Where do you stand on the financial recovery plan?
Obama takes initiative and begins to bob and weave his way around the ring. He's stating the problem but, he doesn't seem to be taking the fight to McCain. Oh! He just gave McCain a little Ali like flip of a jab saying that the past 8 years of failed economic policies were supported by Senator McCain.
McCain counters with more bobbing and weaving, painting a gloomy economic picture but not really answering the question. So the referee steps in and asks the question again. Where do you stand on the financial recovery plan???
Obama continues to bob and weave saying that he hasn't seen the language yet so he doesn't know how he'll vote. McCain seizes his opportunity and says yes he's going to vote for it. Obama steps it up a little, he takes a jab at McCain calls him "John" . . . kind've luring him in and then catches McCain with a left, "10 days ago, John said that the fundamentals of the economy are sound."
Oooh that stung. Now McCain begins bobbing and weaving a vision of how this country under the right leadership will be so much better.
Hmmmm neither fighter seems to want to win this thing.
Uh oh wait a minute I spoke too soon. McCain is measuring Obama, "We have former members of Congress now residing in federal prison because of the evils of this earmarking and pork-barrel spending. Now, Senator Obama, you wanted to know one of the differences. a million dollars for every day that he's been in the United States Senate."
Oh!! A smashing right cross and that hurt Obama! He's trying to get back to the fundamentals . . . Yes Yes he's countering with a flurry of lefts about "tax cuts for the wealthy and corporations." but, they're really just glancing blows. None of which are connecting with the judges.
Whoah!! McCain just connected with another right "Now, Senator Obama didn't mention that, along with his tax cuts, he is also proposing some $800 billion in new spending on new programs." Obama has got to start fighting back or he's going to lose this thing on points.
Oh my God! McCain just landed an upper cut comparing our current corporate tax rate with that of Ireland. Oh, he likes that Irish style of corporate taxation. It's very low.
Obama isn't really attacking he's still bobbing and weaving occasionaly sticking the jab like Ali. "There are so many loopholes that have been written into the tax code, oftentimes with support of Senator McCain, that we actually see our businesses pay effectively one of the lowest tax rates in the world. " A good point but his punches just don't seem to have the same impact as does McCain's.
Round 2: What would you do to solve the financial crisis?
Uh oh! McCain's coming out swinging. " . . . this is a classic example of walking the walk and talking the talk. We had an energy bill before the United States Senate. It was festooned with Christmas tree ornaments. It had all kinds of breaks for the oil companies, I mean, billions of dollars worth. I voted against it; Senator Obama voted for it. He has voted in the United States Senate to increase taxes on people who make as low as $42,000 a year. "
Oh, What a flurry!!! Although Obama's claiming that that last statement was a low blow! The ref hasn't stepped in. Obama's still complaining but McCain is starting to let the rights fly. " . . .you gave the tax breaks to the oil companies."
Mostly posturing and platitudes for most of the round. . . a lot of clinching Neither fighter wasnts give the other an opening.
And there's the bell ending round two.
Round 3: McCain jabs with the tried and true "liberal" demonization. "Senator Obama has the most liberal voting record in the United States Senate. It's hard to reach across the aisle from that far to the left."
Oh Obama counters with a great shot: "John mentioned me being wildly liberal. Mostly that's just me opposing George Bush's wrong headed policies."
Not much action now. Both fighters seem to be content with spouting a bunch facts and figures concerning government spending and financing. Hold on. Obama just caught McCain off guard.
"John, it's been your president who you said you agreed with 90 percent of the time who presided over this increase in spending. This orgy of spending and enormous deficits you voted for almost all of his budgets." Nice left to the already swollen jaw of McCain. "So to stand here and after eight years and say that you're going to lead on controlling spending and, you know, balancing our tax cuts so that they help middle class families when over the last eight years that hasn't happened I think just is, you know, kind of hard to swallow." Wow! That hurt the veteran.
McCain has got to shake out the cob webs. " . . . I'm happy to say that I've got a partner that's a good maverick along with me now." Uh oh, obviously McCain is hurt worse than we thought. I think he needs to abandon this line of attack. It's all style . . .very little substance and it could get McCain into a lot of trouble.
Round 4: Lessons learned from Iraq. Both fighters are mixing it up pretty good here. Obama harking back on why we're there in the first place while McCain is saying that's water under the bridge. America can't afford to lose this war. Obama counters with Iraq is the wrong war. McCain throws several rights about Obama's support of the troops and refusal to admit that the surge has worked. Obama covers up and deflects most of the punches. Now he's leaning against the ropes, is he suckering McCain in like Ali's famous "rope-a-dope"? McCain unleashes a flurry, "Senator Obama didn't go to Iraq for 900 days. I went there and I spoke to our troops. They said, let us win. They said, let us win. We don't want our kids coming back here."
Oh!! Now Obama's complaining of another low blow! He's got to get out of there! He's got to fight back!! Obama deflects some of McCain's punches with the fact that we took our eye of the Bin Laden ball in Afghanistan but, it doesn't appear to be doing a lot of damage.
Until Obama unleashes this flurry: John, you like to pretend like the war started in 2007. You talk about the surge. The war started in 2003, and at the time when the war started, you said it was going to be quick and easy. You said we knew where the weapons of mass destruction were. You were wrong. You said that we were going to be greeted as liberators. You were wrong. You said that there was no history of violence between Shiite and Sunni. And you were wrong.
McCain is visibly shaken. He's hurt. He's got to mount some kind of attack or he'll surely lose this round. Out of sheer desperation comes this blow to Obama's mid section.
"Admiral Mullen suggests that Senator Obama's plan is dangerous for America."
Obama is complaining of another Low blow! "That's not the case."
MCCAIN: That's what ...
OBAMA: What he said was a precipitous...
MCCAIN: That's what Admiral Mullen said.
OBAMA: ... withdrawal would be dangerous. He did not say that. That's not true.
And there's the bell ending a tumultuous round 4
We'll be right back with round 5 of this fight after a word from our sponsors. . .
"Beer!"
Round 5: Not a lot of offense in the beginning of this round. Both fighters are committed to putting more troops in Afghanistan. The referee has to break the clinches and tell the fighters to mix it up. McCain obliges with a stiff jab. " Senator Obama calls for more troops, but what he doesn't understand, it's got to be a new strategy, the same strategy that he condemned in Iraq."
Regarding Pakistan: McCains continues to be aggressive, "We've got to get the support of the people of -- of Pakistan. He said that he would launch military strikes into Pakistan. And I guarantee you I would not publicly state that I'm going to attack them."
Obama counters, "Nobody talked about attacking Pakistan. We've got a choice. We could allow our troops to just be on the defensive and absorb those blows again and again and again, if Pakistan is unwilling to cooperate, or we have to start making some decisions."
The action is heating up. Ooh, McCain lands another blow to Obama's readiness to lead, "I don't think that Senator Obama understands . . ."
Oh wow! McCain just followed up with the mother of the dead soldier, not wanting her son's death to be in vain. He's even wearing the bracelet she gave him! How is Obama ever going to get out of this? What????!!! You've got to be kidding me! Obama's got a bracelet from another dead soldier's mom who wants the war to end!! In all my years of covering fights I have never seen counter punch as effective as what I just witnessed. Oh, the sweet science.
Obama goes on the offensive: "No U.S. soldier ever dies in vain because they're carrying out the missions of their commander in chief."
And that's it for round 5
Round 6 : What about Iran? McCain comes out aggressively and warns of the nuclear threat to Israel and the U.S. Oh he throws a round house explaining that Iran's republican guard are killing American soldiers.
Obama lands a stinging left "Ironically, the single thing that has strengthened Iran over the last several years has been the war in Iraq. Iraq was Iran's mortal enemy. That was cleared away. And what we've seen over the last several years is Iran's influence grow."
Now in my opinion Obama should not let McCain off the hook here but he did. To me this is a McCain weakness. The fact that removing Sadam gave rise to Iran's influence and stature. Obama should be pummeling McCain with this over and over again. Oops, he's let him off the hook. Obama's going into sanction talk and mind numbing policy specifics that don't score a lot of points with the judges.
McCain sees an opening and hits Obama with a, "meeting people like Ahmadinejad without pre-conditions. Legitimizing their status in the world."
Obama counters with "Henry Kissinger, who's one of his advisers, who, along with five recent secretaries of state, just said that we should meet with Iran -- guess what -- without precondition. This is one of your own advisers."
Now McCain is complaining of a low blow. Look out, Obama just connected with a straight left to the head of McCain with this one, " He even said the other day that he would not meet potentially with the prime minister of Spain,because he wasn't sure whether they were aligned with us. I mean, Spain? Spain is a NATO ally."
There's a little swelling under McCain's eye. I think he's getting mad. "So let me get this right. We sit down with Ahmadinejad, and he says, "We're going to wipe Israel off the face of the Earth," and we say, "No, you're not"? Oh, please."
McCain just said the white man equivalent to "Nigga please!" Oh, this is going to get ugly. McCain flurries with "I've known Kissinger for 35 years!"
Obama gives and good as he gets with 'I'm using the same words that your advertisers used." and the round comes to an end. Whew!
Round 7: Talking about Georgia and Russia
Neither fighter really gets it here. Georgia started the fight invading southern Ossestia. Obama misses a great opportunity to land a knock out punch in this round by pointing out that one of McCain's top advisers is Randy Schueneman. A paid lobbyist for Georgia.
McCain brings the fight to Obama, with a nice little combination "Again, a little bit of naivete there. He doesn't understand that Russia committed serious aggression against Georgia. I looked into Mr. Putin's eyes, and I saw three letters, a "K," a "G," and a "B." And their aggression in Georgia is not acceptable behavior. "
A clever way to distance himself from Bush, who looked into Putin's soul and saw a good man.
Once again the fighters lack lusterly go through the motions. Obama even agreeing with his opponent from time to time. Statesmen like but, hardly scoring points with the WWE judges. He may score a point or two with this statement, " Over 26 years, Senator McCain voted 23 times against alternative energy, like solar, and wind, and biodiesel."
But McCain countered "No one from Arizona is against solar. And Senator Obama says he's for nuclear, but he's against reprocessing and he's against storing."
The round ends with both fighters throwing punches but none really connecting.
Round 8: Another 9/11?
With all the bobbing and weaving going on here somebody's going home with some new clothes. They serve harder punches at Senior Proms. But just when you think both fighters are going to escape unscathed . . .McCain revisits his favorite form of attack, " Senator Obama still doesn't quite understand -- or doesn't get it -- "
These don't really hurt Obama but, they I think they score on the judges cards.
Then McCain sensing the fight is almost over decides to throw a flurry at Obama: "I honestly don't believe that Senator Obama has the knowledge or experience and has made the wrong judgments in a number of areas. Reform, prosperity, and peace, these are major challenges to the United States of America. I don't think I need any on-the-job training. I'm ready to go at it right now."
Oh uh, there's a mouse growing under Obama's right eye. Obama should revisit his point about how we're less secure because we've pissed off most of the world and allowed Iran to become a player. But, no. He's content to get on his bicycle and let the round come to an end taking the high road reminding us that America used to be great and with his help it can be great again.
McCain gets throws the last sympathy punch " when I came home from prison, I saw our veterans being very badly treated, and it made me sad." I think that landed a little low.
There's the bell and that's the end of the fight!
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _
Well fight fans. This was one for the ages. I can't tell you how exciting it was to witness this monumental ground breaking event. For the very first time in history we just had a presidential debate between :
an incredibly resilient American patriot who bravely served his country in Viet Nam. A man who survived 5 yeas as a P.O.W. where he endured, mal-nutrition, severe illness, and torture. A man who upon returning home continued serving his country by entering the political arena and became his party's nominee for the highest office in the nation.
AND
an incredibly motivated, intelligent, community leader who served his country by postponing career and monetary gain so he could give back to the community from which he came. A man who overcame poverty and racial prejudice to become a Harvard law school graduate, a state Senator, and his party's nominee for the highest office in the nation.
I'd be overwhelmed with patriotism right now if I hadn't watched Bill Mahr last night and was reminded by Ralph Nader that both these guys are just figure heads and the damn corporatist still run the show.
DaG Out
Friday, September 26, 2008
Damn the Dems too! Last word on the bailout
Okay Barney Frank, I love ya man but you do have voice that reminds me of Crazy Gugenheim. (Old Jackie Gleason show reference)
Chris Dodd, what is up with your evangelist hair style man? I've seen some low hair lines in my day but, holy moley dude. yours starts about a half inch above your eyebrows.
Now why am I taking these petty shots at House Financial Services Committee Chairman Barney Frank and Senate Banking Committee Chairman Christopher Dodd?
Number 1: they've held those positions for the past 2 years so if they were doing their jobs they would have seen this coming and taken some kind of preventative measures. I have a real problem with this "crisis" sneaking up and surprising everybody.
Number 2: they didn't laugh Paulson out of the hearings and put a stop to this insanity. It's obvious to me that they've got a financial stake in getting this bailout passed.
Not to belabor the point but, if any of you self serving, constituent ignoring, congressional con men or women vote for this heist, you need to be voted out of office. I mean c'mon! Even when defended by Bernanke and Paulson they use words like "might" . . . "may" . . ."could" . . . "if" . . ."has the potential to" when referring to the bailout's effectiveness and the market's ability to pay back the loan. Try to use that kind of language when asking a bank manager for a loan. After they pick themselves off the floor and stop laughing they'll say, "I'm sorry", shake your hand and send you on your way. Which is exactly what the Dems and Repubs in congress should do. This just defies logic.
Last but certainly not least. If this goes through, you better get yourself a wheel barrow, fill it full of cash, so you can buy a loaf a bread. Loves me some INFLATION!!!!!
That's it I'm finished!! No more entries on this travesty. The debates begin tonight! I'm on to more entertaining fare. This economic shit just depresses me and reminds me of my motto: "It's never gonna get better it's only gonna get worse. " Have a nice day!
DaG Out
Chris Dodd, what is up with your evangelist hair style man? I've seen some low hair lines in my day but, holy moley dude. yours starts about a half inch above your eyebrows.
Now why am I taking these petty shots at House Financial Services Committee Chairman Barney Frank and Senate Banking Committee Chairman Christopher Dodd?
Number 1: they've held those positions for the past 2 years so if they were doing their jobs they would have seen this coming and taken some kind of preventative measures. I have a real problem with this "crisis" sneaking up and surprising everybody.
Number 2: they didn't laugh Paulson out of the hearings and put a stop to this insanity. It's obvious to me that they've got a financial stake in getting this bailout passed.
Not to belabor the point but, if any of you self serving, constituent ignoring, congressional con men or women vote for this heist, you need to be voted out of office. I mean c'mon! Even when defended by Bernanke and Paulson they use words like "might" . . . "may" . . ."could" . . . "if" . . ."has the potential to" when referring to the bailout's effectiveness and the market's ability to pay back the loan. Try to use that kind of language when asking a bank manager for a loan. After they pick themselves off the floor and stop laughing they'll say, "I'm sorry", shake your hand and send you on your way. Which is exactly what the Dems and Repubs in congress should do. This just defies logic.
Last but certainly not least. If this goes through, you better get yourself a wheel barrow, fill it full of cash, so you can buy a loaf a bread. Loves me some INFLATION!!!!!
That's it I'm finished!! No more entries on this travesty. The debates begin tonight! I'm on to more entertaining fare. This economic shit just depresses me and reminds me of my motto: "It's never gonna get better it's only gonna get worse. " Have a nice day!
DaG Out
Missisippi + progressive black men = ?
Am I the only one a little nervous for Barack's safety. He's gaining in the polls and tonight he'll be out after sun down in a Mississippi town. The debate is being held in the at the University of Mississippi. Ol' Miss as it's known to the Good ol' boys. Why this location was chosen is a mystery to me. Yes, hopefully we have evolved to a point where a person's color is no longer an issue but, Mississippi is a state that has had more than it's share of intolerant white men. This seems to me to be an incredibly brave thing for him to do. I sure hope security pats down every single person in the auditorium, every piece of electronic equipment is disassembled, and absolutely "no ropes allowed".
June 12th 1963 civil rights leader Medgar Evers killed by Byron De La Beckwith. (A good old Mississippi boy and a card carrying member of the K K K) In 1964 three young college boys travel to Mississippi to encourage voter registration among the black population. Michael Schwerner, Andrew Goodman, and James Chaney, all beaten and shot in the dark of night on a lonely road in Neshoba County, Mississippi and buried in an earthen dam. The White Knights of the Ku Klux Klan were implicated when two of their members confess to the conspiracy and describes the shootings.
Now I know none of these things happened in Oxford but, after The Daily Mississippian released a statement from the emperor of the Mississippi White Knights confirming the presence of the Klan at the debate, the emperor agreed to an interview.
White Knights will have officers and Klansmen on hand for the presidential debate on Sept. 26, 2008, the emperors statement said.
Our people will be in Oxford and on the campus invisible.' That means our people wont be in regalia or demonstrating. So, I guess you'll just have to guess which of the people present are Klansmen, The Daily Mississippian reported on Friday, Sept. 12.
I'll be watching anxiously and won't be surprised if one of those hate mongering assholes shines a laser pen on Barack during the debate.
God, please don't let another progressive voice be silenced by an assassin's bullet. I've seen too many in my lifetime, and one can only wonder how different the world would be today if only they had lived.
DaG Out
June 12th 1963 civil rights leader Medgar Evers killed by Byron De La Beckwith. (A good old Mississippi boy and a card carrying member of the K K K) In 1964 three young college boys travel to Mississippi to encourage voter registration among the black population. Michael Schwerner, Andrew Goodman, and James Chaney, all beaten and shot in the dark of night on a lonely road in Neshoba County, Mississippi and buried in an earthen dam. The White Knights of the Ku Klux Klan were implicated when two of their members confess to the conspiracy and describes the shootings.
Now I know none of these things happened in Oxford but, after The Daily Mississippian released a statement from the emperor of the Mississippi White Knights confirming the presence of the Klan at the debate, the emperor agreed to an interview.
White Knights will have officers and Klansmen on hand for the presidential debate on Sept. 26, 2008, the emperors statement said.
Our people will be in Oxford and on the campus invisible.' That means our people wont be in regalia or demonstrating. So, I guess you'll just have to guess which of the people present are Klansmen, The Daily Mississippian reported on Friday, Sept. 12.
I'll be watching anxiously and won't be surprised if one of those hate mongering assholes shines a laser pen on Barack during the debate.
God, please don't let another progressive voice be silenced by an assassin's bullet. I've seen too many in my lifetime, and one can only wonder how different the world would be today if only they had lived.
DaG Out
Thursday, September 25, 2008
No No No and Nooooo!!!!!
An excerpt from a Wikipedia definition:
Bailout in economics and finance is a term used to describe a situation where a bankrupt or nearly bankrupt entity is given a fresh injection of liquidity. Often a bailout is in response to a short term cash flow crunch, where an entity with illiquid, but sufficient, assets is given funds to "tide it over" until short term problems are resolved. However, often bailouts are merely delaying the inevitable.
"Often bailouts are merely delaying the inevitable!" Did you catch that Congress?! Even wikipedia knows it's a bad deal!
And don't think I didn't catch your change in terminology Mr. Bush. Rescue instead of bail out. Nice try, but that won't fly with me. Just like saying "enhanced interrogation techniques" instead of "torture". Rescue. Rescue, my rectum! The only people being rescued here are the power brokers like Paulson and his buddies, foreign investors, and multi-millionaires including several of those in congress. Basically those who have millions invested in these failing institutions. If you want to accuse me of class warfare go right ahead because these guys declared it on us a long time ago. If it this bail out was truly going to rescue Ma and Pa Main street from financial ruin, congress would:
#1. Write in the provision that allows Judges to review mortgages on an individual basis so those who want to stay in their homes can.
#2. No CEO or Executive that had anything to do with the mismanagement of loans and or funds should have any access to this money.
#3 The amount would be substantially less than 700 billion, let's say 1.5 billion. See how that works, then if things are going well come back during the next administration and ask for more. (Remember that Bear Stearns, AIG, Fannie Mae and Freddie Mac have already been either taken over or bailed out)
If regulations do nothing more than prevent an institution from becoming "too big to fail" then they are sorely needed. The founding fathers knew that unchecked greed and wealth was a threat to a free and democratic society. So, now the damn bail out is "too big to fail". 700 billion dollars . . . Jesus H. tap dancing . . . What the hell costs 700 billion dollars?
From Forbes today: When asked how Henry Paulson and the administration came up with the 700 billion dollar figure: "It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number."
You gotta be shittin' me! The more I learn about this thing the more it becomes apparent that it is a heist of the highest order. This makes the Lufthansa heist look like a kid shop lifting a candy bar.
Not only is it morally wrong for tax payers to have to foot the bill for poor managed companies, it is unconstitutional. The Constitution's General Welfare Clause requires that all the federal government's expenditures be for the general welfare, such as a highway, or a national park, or a military installation; something from which everyone can directly benefit.
Shareholders of Freddie, Fannie, AIG, Bear Stearns and any future bail out candidates are a small limited class of persons whose well-being hardly enhances the general welfare. The institutions that say they can not pay their bills own billions of property, office buildings, and assets like private jets, limousines, computers, flat screen high definition televisions, other investments etc etc. When a private citizens or corporations who aren't bailed out file bankruptcy, they are required to list all assets. What's good for the goose is good for the God damn wall street crooks!!!! Sorry, it just irks me that they're going to get away with this. It doesn't help matters that the very people we elected to look out for our best interests are accomplices in this crime.
The Repubs in the administration who helped construct the legislation, are not going to vote for it if there are protections for the home owners. The Repubs are smart and put the Dems in a catch 22. This is a Democratic controlled congress (by one seat) If the Dems cave and vote for this bill without the foreclosure protections, the Repubs will only need a few Repub votes to get it to pass. Giving the appearance that they are against it. Then they can blame the Dems for wasteful spending. If the Dems stick to their guns the Repubs will blame the Dems for preventing legislation that could have saved the American economy. It's really genius when you think about it. It's evil genius but, genius nonetheless. After some of the provisions are in place it will pass through the congress and the senate. Bush will sign it into "unconstitutional" law and the Dems will be saddled with the responsibility when the economy tanks. 'Cause in case you didn't know, baring some kind of miracle our economy is going to tank whether this bail out happens or not.
Why won't someone in congress stand up and call this piece of thievery what it is?! This is a rip off!!! It saddens me that neither presidential candidate is going to take that stance. Damn it!
DaG out
Bailout in economics and finance is a term used to describe a situation where a bankrupt or nearly bankrupt entity is given a fresh injection of liquidity. Often a bailout is in response to a short term cash flow crunch, where an entity with illiquid, but sufficient, assets is given funds to "tide it over" until short term problems are resolved. However, often bailouts are merely delaying the inevitable.
"Often bailouts are merely delaying the inevitable!" Did you catch that Congress?! Even wikipedia knows it's a bad deal!
And don't think I didn't catch your change in terminology Mr. Bush. Rescue instead of bail out. Nice try, but that won't fly with me. Just like saying "enhanced interrogation techniques" instead of "torture". Rescue. Rescue, my rectum! The only people being rescued here are the power brokers like Paulson and his buddies, foreign investors, and multi-millionaires including several of those in congress. Basically those who have millions invested in these failing institutions. If you want to accuse me of class warfare go right ahead because these guys declared it on us a long time ago. If it this bail out was truly going to rescue Ma and Pa Main street from financial ruin, congress would:
#1. Write in the provision that allows Judges to review mortgages on an individual basis so those who want to stay in their homes can.
#2. No CEO or Executive that had anything to do with the mismanagement of loans and or funds should have any access to this money.
#3 The amount would be substantially less than 700 billion, let's say 1.5 billion. See how that works, then if things are going well come back during the next administration and ask for more. (Remember that Bear Stearns, AIG, Fannie Mae and Freddie Mac have already been either taken over or bailed out)
If regulations do nothing more than prevent an institution from becoming "too big to fail" then they are sorely needed. The founding fathers knew that unchecked greed and wealth was a threat to a free and democratic society. So, now the damn bail out is "too big to fail". 700 billion dollars . . . Jesus H. tap dancing . . . What the hell costs 700 billion dollars?
From Forbes today: When asked how Henry Paulson and the administration came up with the 700 billion dollar figure: "It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number."
You gotta be shittin' me! The more I learn about this thing the more it becomes apparent that it is a heist of the highest order. This makes the Lufthansa heist look like a kid shop lifting a candy bar.
Not only is it morally wrong for tax payers to have to foot the bill for poor managed companies, it is unconstitutional. The Constitution's General Welfare Clause requires that all the federal government's expenditures be for the general welfare, such as a highway, or a national park, or a military installation; something from which everyone can directly benefit.
Shareholders of Freddie, Fannie, AIG, Bear Stearns and any future bail out candidates are a small limited class of persons whose well-being hardly enhances the general welfare. The institutions that say they can not pay their bills own billions of property, office buildings, and assets like private jets, limousines, computers, flat screen high definition televisions, other investments etc etc. When a private citizens or corporations who aren't bailed out file bankruptcy, they are required to list all assets. What's good for the goose is good for the God damn wall street crooks!!!! Sorry, it just irks me that they're going to get away with this. It doesn't help matters that the very people we elected to look out for our best interests are accomplices in this crime.
The Repubs in the administration who helped construct the legislation, are not going to vote for it if there are protections for the home owners. The Repubs are smart and put the Dems in a catch 22. This is a Democratic controlled congress (by one seat) If the Dems cave and vote for this bill without the foreclosure protections, the Repubs will only need a few Repub votes to get it to pass. Giving the appearance that they are against it. Then they can blame the Dems for wasteful spending. If the Dems stick to their guns the Repubs will blame the Dems for preventing legislation that could have saved the American economy. It's really genius when you think about it. It's evil genius but, genius nonetheless. After some of the provisions are in place it will pass through the congress and the senate. Bush will sign it into "unconstitutional" law and the Dems will be saddled with the responsibility when the economy tanks. 'Cause in case you didn't know, baring some kind of miracle our economy is going to tank whether this bail out happens or not.
Why won't someone in congress stand up and call this piece of thievery what it is?! This is a rip off!!! It saddens me that neither presidential candidate is going to take that stance. Damn it!
DaG out
Wednesday, September 24, 2008
Warren Buffet knows it's going to pass
Fast and furious! I can't keep up with today's news. This is right out of the pages of Naomi Klein's "the Shock Doctrine". President Bush will speak to the nation tonight and I suspect he will speak in dire tones. I'll paraphrase what I think he's gonna say. . ."We are facing a national disaster of unimaginable magnitude. Congress must act swiftly and not attach undue restrictions on this measure because time is of the essence. In order to save Ma and Pa Main Street we must give the treasury the 700 billion dollars."
I believe he will talk of the possibility of a run on the banks much like the Great Depression. Just like Ms Klein's book explains, these guys need to scare us into doing something we know is wrong. I believe they'll succeed, congress will pass this bail out with a few provisions and post pone the inevitable. As I've warned in previous posts, the dollar won't be worth the paper it's printed on, there will be skyrocketing inflation, hundreds of thousands will lose their jobs and we will be in a full blown depression. So, that's gonna suck.
As a diversion, I'm gonna bitch about McCain:
Senator John McCain has been disingenuous with his announcement that he is going to suspend his campaign so he can rush back to Washington and help solve our financial problem. He issued a statement just after notifying FOX News that he was suspending his campaign and wanted to post pone the presidential debates. He made it sound as if it was his idea and challenged Obama to do the same. What really happened was: Obama received a call from Oklahoma's Senator Rep. Tom Coburn, yesterday. Coburn suggested that Obama and McCain issue a joint statement on the "crisis" since they both shared similar opinions. Obama called the McCain camp at 8:30AM this morning, Obama explained what Coburn had said and thought that a joint statement would be a good idea. McCain called back at 2:30PM saying yes it's a good idea to to do that. No sooner had McCain hung up the phone when he called FOX news and issued his statement sans any acknowledgement of Obama's call. McCain went so far as to challenge Obama to suspend his campaign and added that the debates should be postponed.
You may remember that a long time ago I worried that this election may never take place. There would be some kind of national emergency, Bush would suspend the elections and possibly declare martial law.
I didn't want to bring up the Hockey Mom at all but, I have to in this instance. Since McCain is going to Washington, let's ask Palin a question or two about her take on this crisis. Oh that's right, she refuses to answer any questions by any reporters. Yesterday she was meeting with foreign dignitaries and refused to allow even print reporters in the meetings. This is unprecedented. The campaign that says it's "America first" and the number 2 on the ticket won't allow a single question by an impartial reporter. She has never given a Q and A press conference? Nothing ? Nada? Why doesn't CBS, ABC, NBC, and even FOX keep a running total of the days that Palin hasn't allowed an unscripted question. Anchor person says, "Day 18 of VP hopeful Gov. Palin's refusal to answer a reporter's question." and then tomorrow, " "Day 19 of . . ." and so on. It would take all of 3 seconds of air time. Hey Sarah! If you're truly ready to become president . . . why don't you offer to take McCain's place in the debate? You could prove to the voters that you have confidence in your readiness. Whadya say Sarah?
The powers that be will hit us with a 3 strike effort to terrify us. 1st This situation is so serious that the Republican candidate for president suspends his campaign. "Ooooh." 2nd The president will speak to the nation and warn us of dire consequences. "Ooooooh Oooooh." 3rd. If this bail out looks like it isn't going to pass watch the Dow fall sharply on Thursday or Friday. "Ooooh. Ooooh. Ooooooh."
So, if you have a few million you may want to buy stock in Goldman Sachs. It's a pretty good bet that Paulson's old company's gonna make out on this deal. Warren Buffet seems to think so, he just purchased 5 billion worth of it's stock.
DaG out
I believe he will talk of the possibility of a run on the banks much like the Great Depression. Just like Ms Klein's book explains, these guys need to scare us into doing something we know is wrong. I believe they'll succeed, congress will pass this bail out with a few provisions and post pone the inevitable. As I've warned in previous posts, the dollar won't be worth the paper it's printed on, there will be skyrocketing inflation, hundreds of thousands will lose their jobs and we will be in a full blown depression. So, that's gonna suck.
As a diversion, I'm gonna bitch about McCain:
Senator John McCain has been disingenuous with his announcement that he is going to suspend his campaign so he can rush back to Washington and help solve our financial problem. He issued a statement just after notifying FOX News that he was suspending his campaign and wanted to post pone the presidential debates. He made it sound as if it was his idea and challenged Obama to do the same. What really happened was: Obama received a call from Oklahoma's Senator Rep. Tom Coburn, yesterday. Coburn suggested that Obama and McCain issue a joint statement on the "crisis" since they both shared similar opinions. Obama called the McCain camp at 8:30AM this morning, Obama explained what Coburn had said and thought that a joint statement would be a good idea. McCain called back at 2:30PM saying yes it's a good idea to to do that. No sooner had McCain hung up the phone when he called FOX news and issued his statement sans any acknowledgement of Obama's call. McCain went so far as to challenge Obama to suspend his campaign and added that the debates should be postponed.
You may remember that a long time ago I worried that this election may never take place. There would be some kind of national emergency, Bush would suspend the elections and possibly declare martial law.
I didn't want to bring up the Hockey Mom at all but, I have to in this instance. Since McCain is going to Washington, let's ask Palin a question or two about her take on this crisis. Oh that's right, she refuses to answer any questions by any reporters. Yesterday she was meeting with foreign dignitaries and refused to allow even print reporters in the meetings. This is unprecedented. The campaign that says it's "America first" and the number 2 on the ticket won't allow a single question by an impartial reporter. She has never given a Q and A press conference? Nothing ? Nada? Why doesn't CBS, ABC, NBC, and even FOX keep a running total of the days that Palin hasn't allowed an unscripted question. Anchor person says, "Day 18 of VP hopeful Gov. Palin's refusal to answer a reporter's question." and then tomorrow, " "Day 19 of . . ." and so on. It would take all of 3 seconds of air time. Hey Sarah! If you're truly ready to become president . . . why don't you offer to take McCain's place in the debate? You could prove to the voters that you have confidence in your readiness. Whadya say Sarah?
The powers that be will hit us with a 3 strike effort to terrify us. 1st This situation is so serious that the Republican candidate for president suspends his campaign. "Ooooh." 2nd The president will speak to the nation and warn us of dire consequences. "Ooooooh Oooooh." 3rd. If this bail out looks like it isn't going to pass watch the Dow fall sharply on Thursday or Friday. "Ooooh. Ooooh. Ooooooh."
So, if you have a few million you may want to buy stock in Goldman Sachs. It's a pretty good bet that Paulson's old company's gonna make out on this deal. Warren Buffet seems to think so, he just purchased 5 billion worth of it's stock.
DaG out
This is interesting: While listening to conservative talk radio I heard one personality rail against the Democrats for this mortgage crisis. He blamed the liberals and their policies for forcing Mortgage lenders to give loans to people with bad credit. This is reason for the failure of companies like Fannie Mae and Freddie Mac.
Well not so fast Mr. personality, in October of 2002 President George Bush called for lending institutions to relax their income and good credit criteria so that minorities and low income families could have access to homes just as nice as the more well off and good credit applicants.
WASHINGTON--(BUSINESS WIRE)--Oct. 15, 2002
Fannie Mae Chairman and CEO, Franklin D. Raines today joined President Bush and U.S. Department of Housing and Urban Development (HUD) Secretary Mel Martinez, and other industry leaders and non-profit organizations, for a housing summit to promote the Administration's proposal to expand minority homeownership.
Fannie Mae's ten-point plan to help advance the Bush Administration's homeownership proposals was included in the Blueprint for the American Dream document released by HUD today.
"Fannie Mae commends President Bush and HUD's continued efforts to make minority homeownership a national priority through today's housing summit," said Raines. "As we know, homeownership builds stronger families, communities, and improves our quality of life. Through the expansion of minority homeownership, the Administration will advance housing equality in America."
"The Blueprint for the American Dream that we unveiled today is the response to the `homeownership challenge' President Bush issued in June to increase minority homeownership," said HUD Secretary Mel Martinez. "Our partners, representing every segment of the affordable housing industry, are committed to working together to achieve the President's goal of adding 5.5 million new minority homeowners by the end of the decade."
In his February State of the Union address President Bush called for "broader homeownership, especially among minorities." In June, President Bush challenged both the public and private sector to be a partner in his crusade to create 5.5 million new minority homeowners by the end of the decade.
So, I need to call the radio host and tell him to add Bush's name to the like' s of Clinton and Cuomo, as leaders who were for lowering the lending standards. (although Clinton and Cuomo weren't for the removal of oversight and regulation that led to the questionable practices of bundling loans and selling them several times over.) I would tell the host that deregulation and the lowering of standards for mortgage loans resulted in the seizing up of available credit on Wall Street. Now we're supposed to give these same lousy money managers 700 billion or more to. . . then the host would pod me down and talk over me.
DaG out
Well not so fast Mr. personality, in October of 2002 President George Bush called for lending institutions to relax their income and good credit criteria so that minorities and low income families could have access to homes just as nice as the more well off and good credit applicants.
WASHINGTON--(BUSINESS WIRE)--Oct. 15, 2002
Fannie Mae Chairman and CEO, Franklin D. Raines today joined President Bush and U.S. Department of Housing and Urban Development (HUD) Secretary Mel Martinez, and other industry leaders and non-profit organizations, for a housing summit to promote the Administration's proposal to expand minority homeownership.
Fannie Mae's ten-point plan to help advance the Bush Administration's homeownership proposals was included in the Blueprint for the American Dream document released by HUD today.
"Fannie Mae commends President Bush and HUD's continued efforts to make minority homeownership a national priority through today's housing summit," said Raines. "As we know, homeownership builds stronger families, communities, and improves our quality of life. Through the expansion of minority homeownership, the Administration will advance housing equality in America."
"The Blueprint for the American Dream that we unveiled today is the response to the `homeownership challenge' President Bush issued in June to increase minority homeownership," said HUD Secretary Mel Martinez. "Our partners, representing every segment of the affordable housing industry, are committed to working together to achieve the President's goal of adding 5.5 million new minority homeowners by the end of the decade."
In his February State of the Union address President Bush called for "broader homeownership, especially among minorities." In June, President Bush challenged both the public and private sector to be a partner in his crusade to create 5.5 million new minority homeowners by the end of the decade.
So, I need to call the radio host and tell him to add Bush's name to the like' s of Clinton and Cuomo, as leaders who were for lowering the lending standards. (although Clinton and Cuomo weren't for the removal of oversight and regulation that led to the questionable practices of bundling loans and selling them several times over.) I would tell the host that deregulation and the lowering of standards for mortgage loans resulted in the seizing up of available credit on Wall Street. Now we're supposed to give these same lousy money managers 700 billion or more to. . . then the host would pod me down and talk over me.
DaG out
Tuesday, September 23, 2008
A Bed Time Story
Once upon a time in a far away land known as Starspangula, there was young farmer whose name was Wiedapeepul. Weidapeepul owned one of the best chicken coops in all of Starspangula. He had scrimped and saved for most of his life so that he could fill the chicken coop with chickens. One day Wiedapeepul received a letter from his father, Constitooshun. It seems his father was being trampled on by an evil Emperor known as Dabushministrashun. Weidapeepul had to leave the farm to go and try to save his father. Wiedapeepul needed someone to watch over his chickens while he was away so he put an ad in the paper. The next day a skulk of sky diving foxes were air dropped above the farm. They had golden parachutes, brief cases, and business suits and had come to answer farmer Wiedapeepuls' ad. Their names were Morgan, Goldman, Stanley, Sachs, Wally, Street, Bernanke, Paul and his son. All were well mannered, well educated, and well bred foxes, who said, "Trust us we're here to help."
Obviously Wiedapeepul was leery of leaving his chickens in the care of foxes but, he had other things on his mind and they talked a good game.
So, Weidapeepul went off to Terraqistan to help his father fight the evil Emperor. Upon his return he found the chicken coop empty except for feathers and dried chicken blood. Weidapeepul was shocked! Shocked , I tell you.
Before Wiedapeepul could get a word out the foxes said, "Oh thank God you're back! We need your help!"
" My help? What happened?", he asked the foxes.
"Somebody ate all your chickens." Paul and his son said. "We tried to stop them but it just all happened so fast."
"What am I going to do?" asked Wiedapeepul.
"Buy us 700 billion more chickens and we'll watch them for you." said Paul and his son.
to be continued . . .
Obviously Wiedapeepul was leery of leaving his chickens in the care of foxes but, he had other things on his mind and they talked a good game.
So, Weidapeepul went off to Terraqistan to help his father fight the evil Emperor. Upon his return he found the chicken coop empty except for feathers and dried chicken blood. Weidapeepul was shocked! Shocked , I tell you.
Before Wiedapeepul could get a word out the foxes said, "Oh thank God you're back! We need your help!"
" My help? What happened?", he asked the foxes.
"Somebody ate all your chickens." Paul and his son said. "We tried to stop them but it just all happened so fast."
"What am I going to do?" asked Wiedapeepul.
"Buy us 700 billion more chickens and we'll watch them for you." said Paul and his son.
to be continued . . .
It's a lie! It's a bald and bearded face lie!
We're being told by 2 millionaires (Bernanke and Paulson) who own hundreds of millions of stock in failing investment institutions, we will certainly be in a recession if one of them doesn't receive 700 billion ASAP.
WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke bluntly warned Congress on Tuesday it risks a recession, with higher unemployment and increased home foreclosures, if lawmakers fail to pass the Bush administration's $700 billion plan to bail out the financial industry.
Sen. Richard C. Shelby of Alabama, the panel's senior Republican, was even more blunt. "I have long opposed government bailouts for individuals and corporate America alike," he said. Seated a few feet away from Paulson and Bernanke, he added, "We have been given no credible assurances that this plan will work. We could very well send $700 billion, or a trillion, and not resolve the crisis."
YOU GO REPUBLICAN SENATOR, SHELBY!!
Senator Jon Tester D Montana: stated that every time the congress has been pushed into a spur of the moment decision it has turned out to be a disaster and on that they collectively regret.
YOU GO DEMOCRAT SENATOR, TESTER!!
What a lot of us are not aware of is there is upwards of 1,000 trillion worth of MSB derivatives that are at risk. We don't have enough in the whole world to bail this out. This is shadow banking system, (investment banking) gambling with other people's money. It's been around since before the first depression. Hoover proposed a bail out of the banks . . . it passed and the robber barons made millions but, the banks still failed. We the people lost everything. The Japanese tried it in the '90's and they spent the next ten years trying to dig out from under the horrible economic conditions. Bail outs do not work. The Henry Paulson's of the world devise money making schemes: from: mortgage backed securities (MBS's) to MBS derivatives to selling bundled mortgages several times over. It's like junk bonds. It's all on paper and in the computer their is no real asset. Money out of thin air. There's nothing to back it. Now he can't cover the notes and wants to cover his ass for another 6 weeks. After the election he won't be the secretary of the treasury and when the house of cards tumbles, it won't be on his watch. Oh and by the by, you are aware that the people that will be responsible for investing of the 700 billion are the very same people whose financial expertise created the need for the 700 billion.
ALRIGHT!!! ENOUGH!!!!
I thought the stock exchange had some automatic protection put into effect back in 1987. ( Under the SEC's rules, a drop of 350 points in the Dow would bring a 30-minute halt in NYSE trading. If the Dow declined another 200 points, trading would cease for one hour. No additional circuit breakers would operate that day, but a new set would apply the next trading day.)
Why hasn't this protection been mention in any of this rush to "bail out". These wall street wheeler dealers are trying to scare congress and the American people into making a very bad decision. Just like used car salesman they're telling us that we don't have much time to decide. If we give them the $, the economy is in the tank. If we don't give them the $, the economy is in the tank. We're in a lose lose situation. Let them fail! Let the shadow banking system experience what all those Enron stock holders experienced. Let Paulson and his ilk lie in the beds they made for themselves. Let the wealthy investors who bought into these schemes deal with those who sold worthless pieces of paper, and keep their greedy mitts off of any more of our money.
DaG out
WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke bluntly warned Congress on Tuesday it risks a recession, with higher unemployment and increased home foreclosures, if lawmakers fail to pass the Bush administration's $700 billion plan to bail out the financial industry.
Sen. Richard C. Shelby of Alabama, the panel's senior Republican, was even more blunt. "I have long opposed government bailouts for individuals and corporate America alike," he said. Seated a few feet away from Paulson and Bernanke, he added, "We have been given no credible assurances that this plan will work. We could very well send $700 billion, or a trillion, and not resolve the crisis."
YOU GO REPUBLICAN SENATOR, SHELBY!!
Senator Jon Tester D Montana: stated that every time the congress has been pushed into a spur of the moment decision it has turned out to be a disaster and on that they collectively regret.
YOU GO DEMOCRAT SENATOR, TESTER!!
What a lot of us are not aware of is there is upwards of 1,000 trillion worth of MSB derivatives that are at risk. We don't have enough in the whole world to bail this out. This is shadow banking system, (investment banking) gambling with other people's money. It's been around since before the first depression. Hoover proposed a bail out of the banks . . . it passed and the robber barons made millions but, the banks still failed. We the people lost everything. The Japanese tried it in the '90's and they spent the next ten years trying to dig out from under the horrible economic conditions. Bail outs do not work. The Henry Paulson's of the world devise money making schemes: from: mortgage backed securities (MBS's) to MBS derivatives to selling bundled mortgages several times over. It's like junk bonds. It's all on paper and in the computer their is no real asset. Money out of thin air. There's nothing to back it. Now he can't cover the notes and wants to cover his ass for another 6 weeks. After the election he won't be the secretary of the treasury and when the house of cards tumbles, it won't be on his watch. Oh and by the by, you are aware that the people that will be responsible for investing of the 700 billion are the very same people whose financial expertise created the need for the 700 billion.
ALRIGHT!!! ENOUGH!!!!
I thought the stock exchange had some automatic protection put into effect back in 1987. ( Under the SEC's rules, a drop of 350 points in the Dow would bring a 30-minute halt in NYSE trading. If the Dow declined another 200 points, trading would cease for one hour. No additional circuit breakers would operate that day, but a new set would apply the next trading day.)
Why hasn't this protection been mention in any of this rush to "bail out". These wall street wheeler dealers are trying to scare congress and the American people into making a very bad decision. Just like used car salesman they're telling us that we don't have much time to decide. If we give them the $, the economy is in the tank. If we don't give them the $, the economy is in the tank. We're in a lose lose situation. Let them fail! Let the shadow banking system experience what all those Enron stock holders experienced. Let Paulson and his ilk lie in the beds they made for themselves. Let the wealthy investors who bought into these schemes deal with those who sold worthless pieces of paper, and keep their greedy mitts off of any more of our money.
DaG out
Monday, September 22, 2008
Tap the brakes
Let's not be too hasty to give an unelected Bush appointee and former CEO of Goldman Sachs complete control of 700 billion plus. Let's take the time to examine the proposal and take the time to seek educated opinions on it's validity. I thought that the free market was supposed to be left alone to succeed or fail on it's own merit. If the mortgage borrower loses his home because he bit off more than he could chew, shouldn't the lending institution who made the loan have to face the same consequence?
If this bail out passes Henry Paulson is granted unsupervised management of 700 billion of tax payer dollars and will answer to no one. According to the bail out proposal before congress : In exercising the authorities granted in this Act, the Secretary shall take into consideration means for--
(1) providing stability or preventing disruption to the financial markets or banking system; and
(2) protecting the taxpayer.
Interesting that financial markets are the number one priority and not the tax payer. Also note that the money will be going to help bail out foreign interests as well. While the American who's house was foreclosed on is left swinging in the wind.
Notice some of the power and disregard for rules of law it' allows :
Necessary Actions.--The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation:
(2) entering into contracts, including contracts for services authorized by section 3109 of title 5, United States Code, without regard to any other provision of law regarding public contracts;
Management of Mortgage-Related Assets.--The Secretary shall have authority to manage mortgage-related assets purchased under this Act, including revenues and portfolio risks therefrom.
Pushing through this legislation while Congress is still in shock over the bankruptcies is a financial version of "The Shock Doctrine". What is not being brought to the forefront is the fact that the Paulson was appointed over 2 years ago, was well aware of the mortgage crisis due to lousy lending practices and borrowers inability to know what they could afford. If he had so much knowledge why didn't he take action or notify somebody who could. As recent as March of this year, Secretary Paulson urged the lending institutions to continue making loans in order to bolster their assets. He even stated McCain's mantra, " The fundamentals of our economy are strong", knowing full well that the institutions were running in the red. No red flags no preemptive measures to ward off this crisis. Why was this situation allowed to metastasize into an inoperable financial tumor? If in fact the institutions are on the verge of collapse and not just experiencing a lull in cash flow. Something is afoot and it looks like the government wants control of our financial institutions. The government is going to buy these trillion dollars worth of mortgages with pennies on the dollar. Here's a thought . . . let the home owner buy their own mortgages back "pennies on the dollar" and let them pay off their own loans. I can not believe there isn't more outrage being expressed by the tax payer? We're going to save the financial asses of they very people who foreclosed on our homes and effectively threw us out on the street? Remember this wasn't a national emergency until those with millions and millions vested MBS's and derivatives began losing their money.
Fiscal conservatives where the hell is your voice??!! Government control of private corporations, are you kidding me?! The wording in this "bail out" includes: “Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”
Secretary Paulson will be free from oversight or even legal review? No accountability whatsoever? He'll have cart blanche' to buy and sell securities as he sees fit. A two year 700 billion dollar credit card that you and I are responsible for. Call me cynical but, aren't these the same guys that got us into this mess? Now they're acting like all those credit repair con man that charge you a huge fee to get the collection agencies off your back. When in reality they work for the collection agency.
Jefferson wrote: “[The] Bank of the United States… is one of the most deadly hostility existing, against the principles and form of our Constitution… An institution like this, penetrating by its branches every part of the Union, acting by command and in phalanx, may, in a critical moment, upset the government. I deem no government safe which is under the vassalage of any self-constituted authorities, or any other authority than that of the nation, or its regular functionaries.” ~Letter to Albert Gallatin, 1803
Barney Frank is currently trying to make sure that those who got us into this mess aren't rewarded by the bail out with millions in severance pay and golden parachutes. It's too little too late. That was the least the Dems could do. They should grow a pair and demand that the perpetrators of this scam be brought up on charges! This is a true threat to the United States. They should be charged with treason! Call this what it is: reverse distribution of wealth, socialism, class warfare, and the largest bank robbery in the history of the world!!!
Addendum: Goldman Sachs and Morgan Stanley have been granted Bank status instead of their original investment bank status, by the Treasury and The Federal Reserve. Implication: Banks are FDIC insured, investment banks are not. They want a cut of the take so they're getting in on this "sweet deal"! This has been planned for a long time and congress is going to pass this thing! Whoever wins the election in November will not have a penny left for infrastructure, education, health care, or anything.
DaG Out
If this bail out passes Henry Paulson is granted unsupervised management of 700 billion of tax payer dollars and will answer to no one. According to the bail out proposal before congress : In exercising the authorities granted in this Act, the Secretary shall take into consideration means for--
(1) providing stability or preventing disruption to the financial markets or banking system; and
(2) protecting the taxpayer.
Interesting that financial markets are the number one priority and not the tax payer. Also note that the money will be going to help bail out foreign interests as well. While the American who's house was foreclosed on is left swinging in the wind.
Notice some of the power and disregard for rules of law it' allows :
Necessary Actions.--The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation:
(2) entering into contracts, including contracts for services authorized by section 3109 of title 5, United States Code, without regard to any other provision of law regarding public contracts;
Management of Mortgage-Related Assets.--The Secretary shall have authority to manage mortgage-related assets purchased under this Act, including revenues and portfolio risks therefrom.
Pushing through this legislation while Congress is still in shock over the bankruptcies is a financial version of "The Shock Doctrine". What is not being brought to the forefront is the fact that the Paulson was appointed over 2 years ago, was well aware of the mortgage crisis due to lousy lending practices and borrowers inability to know what they could afford. If he had so much knowledge why didn't he take action or notify somebody who could. As recent as March of this year, Secretary Paulson urged the lending institutions to continue making loans in order to bolster their assets. He even stated McCain's mantra, " The fundamentals of our economy are strong", knowing full well that the institutions were running in the red. No red flags no preemptive measures to ward off this crisis. Why was this situation allowed to metastasize into an inoperable financial tumor? If in fact the institutions are on the verge of collapse and not just experiencing a lull in cash flow. Something is afoot and it looks like the government wants control of our financial institutions. The government is going to buy these trillion dollars worth of mortgages with pennies on the dollar. Here's a thought . . . let the home owner buy their own mortgages back "pennies on the dollar" and let them pay off their own loans. I can not believe there isn't more outrage being expressed by the tax payer? We're going to save the financial asses of they very people who foreclosed on our homes and effectively threw us out on the street? Remember this wasn't a national emergency until those with millions and millions vested MBS's and derivatives began losing their money.
Fiscal conservatives where the hell is your voice??!! Government control of private corporations, are you kidding me?! The wording in this "bail out" includes: “Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”
Secretary Paulson will be free from oversight or even legal review? No accountability whatsoever? He'll have cart blanche' to buy and sell securities as he sees fit. A two year 700 billion dollar credit card that you and I are responsible for. Call me cynical but, aren't these the same guys that got us into this mess? Now they're acting like all those credit repair con man that charge you a huge fee to get the collection agencies off your back. When in reality they work for the collection agency.
Jefferson wrote: “[The] Bank of the United States… is one of the most deadly hostility existing, against the principles and form of our Constitution… An institution like this, penetrating by its branches every part of the Union, acting by command and in phalanx, may, in a critical moment, upset the government. I deem no government safe which is under the vassalage of any self-constituted authorities, or any other authority than that of the nation, or its regular functionaries.” ~Letter to Albert Gallatin, 1803
Barney Frank is currently trying to make sure that those who got us into this mess aren't rewarded by the bail out with millions in severance pay and golden parachutes. It's too little too late. That was the least the Dems could do. They should grow a pair and demand that the perpetrators of this scam be brought up on charges! This is a true threat to the United States. They should be charged with treason! Call this what it is: reverse distribution of wealth, socialism, class warfare, and the largest bank robbery in the history of the world!!!
Addendum: Goldman Sachs and Morgan Stanley have been granted Bank status instead of their original investment bank status, by the Treasury and The Federal Reserve. Implication: Banks are FDIC insured, investment banks are not. They want a cut of the take so they're getting in on this "sweet deal"! This has been planned for a long time and congress is going to pass this thing! Whoever wins the election in November will not have a penny left for infrastructure, education, health care, or anything.
DaG Out
Friday, September 19, 2008
God damnit! I hate economics!
Due to the latest mortgage crisis, the ensuing failed lending institutions, the Fed cranking up the printing presses, the multi-billion dollar bail outs on the tax payers dime. . . . I have to educate myself in the oh so entertaining world of economics. I never took a class in it when I was in high school or college. I wasn't interested. I wasn't going to be a banker, a broker, an executive of an insurance company, a politician, a professor of economics, etc. etc. I just want to be able to balance my check book, make a monthly budget, and save enough money so I won't have to eat cat food when I'm 65. I hate cat food . . . I'm not even all that fond of cats.
So, today I find myself delving into the murky waters of our financial system and practices. What my crash course has revealed makes my stomach turn. Before I go into this in more detail - understand that I think we are fucked. I mean royally!! Early predictions of hard times a commin' have been greatly under estimated.
Ever heard of MBS's? Mortgage Backed Securities., the dirty little secret that has added untold trillions to the already 6 to 12 trillion dollars of debt carried by our failed financial institutions. We don't know the exact amount because, these little transactions aren't monitored by any government agencies. In essence they are hedging devices to immunize a loan portfolio against interest rate risk. They are formed by dividing cash flow from a pool of mortgages.
(Does your head hurt yet?)
Banks and financial institutions all over the world are deeply vested in MSB's and other "side bets" in the mortgage world. A percentage of these "side bets" are on mortgage loans that are predicted to go into default. These guys hedge all their bets . . .right down to the million dollar parachutes when the jig is up.
So, Fannie and Freddie has been taken over by the Fed. AIG who insures Fannie and Freddie, gets an $85 billion dollar Treasury bail out to keep it from going belly up. We're being told that this is just the beginning. If that's the case, nothing congress can do in the way of bail outs is going to save us from the crapper. Even if we start selling off our gold reserves, it's not enough. We are bankrupt! I can balance a check book.
Now the band aid being put on this open wound by our government, is a merely a stop gap measure that will prevent a complete collapse for a while. I hope I'm wrong, I wish I knew what could be done but, I feel that by this time next year we'll have sky rocketing inflation, record high unemployment, and no way for the average citizen to attain a loan for a home or a small business.
I'm leery of the timing of all this. Is this just a scorched earth policy by those who got us into this mess and are heading for the hills, or is this just the beginning of their end game?
DaG out
So, today I find myself delving into the murky waters of our financial system and practices. What my crash course has revealed makes my stomach turn. Before I go into this in more detail - understand that I think we are fucked. I mean royally!! Early predictions of hard times a commin' have been greatly under estimated.
Ever heard of MBS's? Mortgage Backed Securities., the dirty little secret that has added untold trillions to the already 6 to 12 trillion dollars of debt carried by our failed financial institutions. We don't know the exact amount because, these little transactions aren't monitored by any government agencies. In essence they are hedging devices to immunize a loan portfolio against interest rate risk. They are formed by dividing cash flow from a pool of mortgages.
(Does your head hurt yet?)
Banks and financial institutions all over the world are deeply vested in MSB's and other "side bets" in the mortgage world. A percentage of these "side bets" are on mortgage loans that are predicted to go into default. These guys hedge all their bets . . .right down to the million dollar parachutes when the jig is up.
So, Fannie and Freddie has been taken over by the Fed. AIG who insures Fannie and Freddie, gets an $85 billion dollar Treasury bail out to keep it from going belly up. We're being told that this is just the beginning. If that's the case, nothing congress can do in the way of bail outs is going to save us from the crapper. Even if we start selling off our gold reserves, it's not enough. We are bankrupt! I can balance a check book.
Now the band aid being put on this open wound by our government, is a merely a stop gap measure that will prevent a complete collapse for a while. I hope I'm wrong, I wish I knew what could be done but, I feel that by this time next year we'll have sky rocketing inflation, record high unemployment, and no way for the average citizen to attain a loan for a home or a small business.
I'm leery of the timing of all this. Is this just a scorched earth policy by those who got us into this mess and are heading for the hills, or is this just the beginning of their end game?
DaG out
Thursday, September 18, 2008
7% solutions
Some of my conservative brethren feel that liberal minded people spend too much time pointing out the problems with this country. Libs get called "whiners" for pointing out the loss of manufacturing jobs, health benefits, and retirement pensions while golden parachutes for CEOs have sky rocketed over the past eight years. Excuse me?! There are numerous media sources and mouthpieces that extol our virtues at nauseum. The whole" you're a great American" crowd. Those who pat themselves on the back for something they had nothing to do with. (grammar exception) Most weren't alive during WWII, so they don't know what it's like to sacrifice during a time of war only how to shop and run up a credit card. These supposed "great Americans" enjoy the fruits of those who came before them, the seeds of American success were planted by slaves, (an extremely cost effective labor force allowing for untold wealth to be created for the owners.) In later years it was protectionist policies not "free market capitalism" like Friedman and the neo-cons would lead you to believe, that was responsible for our country's to rise to Super Power status. Then when war was unavoidable, our grand parents and great grand parents sacrificed and put country first in order to win these wars. Scrap metal drives, entire manufacturing plants converted to produce armaments for our military. Gas rationing, food rationing, true sacrifice for the good of the country. After 9/11 we were told that the best way for the American citizen to fight back was to go on vacation and buy SUV's. That'll show 'em!
Yeah, we're "great Americans" alright, because of the luck of the draw. It's more a case of having won the geographical birth lottery than actual accomplishment. There are those who have truly done exceptional things, bravery in the field of battle, teachers who have gone above and beyond, civil servants who have truly helped their fellow man. But for the most part, putting in 8 hours a day, 5 days a week, some 50 weeks a year is admirable, but c'mon!!! Does that truly make someone great? What about the goat herder in Afghanistan with 5 or 6 kids who barely earns enough scratch to feed his family. . . or the sweat shop teen who puts in 12 to 16 hours a day for pennies are they not "great"? They have neither the opportunity nor the funds to improve their lives. So please can we stop with the "great American" moniker and just call these callers and talk show hosts what they really are? "lucky Americans."
So, yellow ribbon magnet, plastic flag (made in China) waving, gas guzzling SUV driving American . . . I'm going to offer up 7 solutions for 7 of today's problems.
1. Illegal immigration: This is an easy one. Levy a huge fine or put the employer in jail. This will save the tax payer millions in INS wages and transportation. When an illegal alien can no longer find work, they'll go home.
2. Terrorism: Two part answer A) Good old fashioned police work. Terrorism is a tactic, it can not be defeated militarily, nor can it be done away with completely. However, nearly all of the thwarted terrorist plots have been due to good police work.
B) Alternative sources of energy. As long as our military industrial complex occupy lands in the the middle east, and as long as we are sending trillions of dollars to places that not only launder money for the terrorists but, actually help fund them we can not expect a decrease in terrorism.
3. Health Care: First of all Congress and Senate representatives are to receive a mandatory cut in pay. If the Airline pilots can do it so can these politicians. Oh, I figure $65.00 grand a year aught to do it. Also, they will have to pay for their own health care. We'll have free national care within a year.
4. Capital Punishment: Abolished. With so many convictions being overturned due to DNA evidence. With those wrongfully imprisoned innocent people being released from prison, how can any reasonable person not see the potential for an irreversable mistake?
5. Abortion: Women's decision: No man has a say. I would hope that they would only be performed during the first trimester. However, I'm a man so . . . If your belief is that it is murder, then don't have one. Religious morales should never be forced upon others who do not share that same belief.
6. Same Sex Marriage: ( see the last sentence of #5) "This neither breaks my leg nor picks my pocket" What do I care? I think gay folks should be allowed to experience the same hell that straight folks have to endure.
7. Failure to use a turn signal: Re invoke the death penalty.
DaG Out
Yeah, we're "great Americans" alright, because of the luck of the draw. It's more a case of having won the geographical birth lottery than actual accomplishment. There are those who have truly done exceptional things, bravery in the field of battle, teachers who have gone above and beyond, civil servants who have truly helped their fellow man. But for the most part, putting in 8 hours a day, 5 days a week, some 50 weeks a year is admirable, but c'mon!!! Does that truly make someone great? What about the goat herder in Afghanistan with 5 or 6 kids who barely earns enough scratch to feed his family. . . or the sweat shop teen who puts in 12 to 16 hours a day for pennies are they not "great"? They have neither the opportunity nor the funds to improve their lives. So please can we stop with the "great American" moniker and just call these callers and talk show hosts what they really are? "lucky Americans."
So, yellow ribbon magnet, plastic flag (made in China) waving, gas guzzling SUV driving American . . . I'm going to offer up 7 solutions for 7 of today's problems.
1. Illegal immigration: This is an easy one. Levy a huge fine or put the employer in jail. This will save the tax payer millions in INS wages and transportation. When an illegal alien can no longer find work, they'll go home.
2. Terrorism: Two part answer A) Good old fashioned police work. Terrorism is a tactic, it can not be defeated militarily, nor can it be done away with completely. However, nearly all of the thwarted terrorist plots have been due to good police work.
B) Alternative sources of energy. As long as our military industrial complex occupy lands in the the middle east, and as long as we are sending trillions of dollars to places that not only launder money for the terrorists but, actually help fund them we can not expect a decrease in terrorism.
3. Health Care: First of all Congress and Senate representatives are to receive a mandatory cut in pay. If the Airline pilots can do it so can these politicians. Oh, I figure $65.00 grand a year aught to do it. Also, they will have to pay for their own health care. We'll have free national care within a year.
4. Capital Punishment: Abolished. With so many convictions being overturned due to DNA evidence. With those wrongfully imprisoned innocent people being released from prison, how can any reasonable person not see the potential for an irreversable mistake?
5. Abortion: Women's decision: No man has a say. I would hope that they would only be performed during the first trimester. However, I'm a man so . . . If your belief is that it is murder, then don't have one. Religious morales should never be forced upon others who do not share that same belief.
6. Same Sex Marriage: ( see the last sentence of #5) "This neither breaks my leg nor picks my pocket" What do I care? I think gay folks should be allowed to experience the same hell that straight folks have to endure.
7. Failure to use a turn signal: Re invoke the death penalty.
DaG Out
Wednesday, September 17, 2008
Ain't worth the paper it's printed on
Just how much money does the Federal Reserve and the U.S. government have, anyway?
If I max out a credit card and can't afford the monthly minimum payment will the Fed print me some money? Will the Treasury grant me a loan?
Let’s review: After FDR imposed the "New Deal" in order to get Americans back to work and in an attempt to pull us out of the Depression. Government ran programs, lending institutions, and re-established regulations and oversight of giant businesses. Then Reagan was elected. During the Reagan years, the reversal of FDR's regulations and oversight began. Industries vital to the economic welfare of the American people were targeted for deregulation under the guise of “Free market capitalism.” We were told that government needs to get out of our way. All these regulations and restrictions were detrimental to small business and entrepreneurial endeavors. Oh, it is to laugh.
Webster defines "regulation" as : 1 a: to govern or direct according to rule b (1): to bring under the control of law or constituted authority
Webster defines "deregulation" as : the act or process of removing restrictions and regulations
So, by these definitions those who wish to deregulate businesses - want them to operate without rules or the control of law. Hmmm . . .
Teddy Roosevelt (a republican) realized the potential for unchecked greed and warned congress and the American people that businesses left unregulated could grow so big as to be a threat. He called proponents of deregulation, "flagrantly dishonest businessmen that are cynically and brutally indifferent to the interests of the people."
In a speech Roosevelt gave in 1908 he ripped into the highly paid hired guns of the business elite, the lawyers, accountants, and corrupt politicians who fought reform. "Every measure for honesty in business that has been passed during the last six years, has been opposed by these men.”
Forward to today's headlines:
AIG one of the worlds largest insurance companies - gets $85 billion dollar loan from the Federal Reserve. AIG insures loans made by Freddie Mac and Fannie Mae.
Fannie Mae and Freddie Mac after being deregulated and privatized have failed and have been bailed out by the Treasury. Their combined mortgage responsibilities are roughly 5.3 trillion with a "T" dollars.
Bear Stearns one of the world’s largest global lending institutions failed and was loaned 29 billion by the Fed. But, not before B&S executives Greenberg, Molinaro, Cayne and Spector sold $57 million of it’s stock.
Merryl lynch was going to have to file chapter 11 but, Bank of America saved their ass and bought them out.
Lehman Brothers a lending institution that has survived the Civil War and the Great Depression has filed chapter 11. Barclays an English bank is buying the bankrupt company.
Analysts say there are more bail outs to come . . .
As of Jan. 2008 the American dollar was worth 40 % less than it was in 2002. Over the past few weeks it has plummeted even farther.
All of this mess due to deregulation and the ensuing lawless corruption and greed. Deregulation, the conservative republican battle cry since the Reagan era and highly touted by every conservative pundant and talk show host since the deregulation of the media. (which also led to the removal of the "fairness doctrine".) We have been told that government is not to be trusted with business oversight or regulations of any kind. Government is inept, full of bureaucracy, and graft. (Even though that same dreaded and feared entity just took over the 2 largest privatized lending institutions in our nation’s history.)
The reporting of this financial catastrophe is scarce at best. The under lying cause of the debacle is only existent in blogs and the far left media. I guess John Mayer hit it on the head when he sang, “When they own the information they can bend it all they want.” We’ve been bent so far that our collective backs are about to break.
DaG Out
If I max out a credit card and can't afford the monthly minimum payment will the Fed print me some money? Will the Treasury grant me a loan?
Let’s review: After FDR imposed the "New Deal" in order to get Americans back to work and in an attempt to pull us out of the Depression. Government ran programs, lending institutions, and re-established regulations and oversight of giant businesses. Then Reagan was elected. During the Reagan years, the reversal of FDR's regulations and oversight began. Industries vital to the economic welfare of the American people were targeted for deregulation under the guise of “Free market capitalism.” We were told that government needs to get out of our way. All these regulations and restrictions were detrimental to small business and entrepreneurial endeavors. Oh, it is to laugh.
Webster defines "regulation" as : 1 a: to govern or direct according to rule b (1): to bring under the control of law or constituted authority
Webster defines "deregulation" as : the act or process of removing restrictions and regulations
So, by these definitions those who wish to deregulate businesses - want them to operate without rules or the control of law. Hmmm . . .
Teddy Roosevelt (a republican) realized the potential for unchecked greed and warned congress and the American people that businesses left unregulated could grow so big as to be a threat. He called proponents of deregulation, "flagrantly dishonest businessmen that are cynically and brutally indifferent to the interests of the people."
In a speech Roosevelt gave in 1908 he ripped into the highly paid hired guns of the business elite, the lawyers, accountants, and corrupt politicians who fought reform. "Every measure for honesty in business that has been passed during the last six years, has been opposed by these men.”
Forward to today's headlines:
AIG one of the worlds largest insurance companies - gets $85 billion dollar loan from the Federal Reserve. AIG insures loans made by Freddie Mac and Fannie Mae.
Fannie Mae and Freddie Mac after being deregulated and privatized have failed and have been bailed out by the Treasury. Their combined mortgage responsibilities are roughly 5.3 trillion with a "T" dollars.
Bear Stearns one of the world’s largest global lending institutions failed and was loaned 29 billion by the Fed. But, not before B&S executives Greenberg, Molinaro, Cayne and Spector sold $57 million of it’s stock.
Merryl lynch was going to have to file chapter 11 but, Bank of America saved their ass and bought them out.
Lehman Brothers a lending institution that has survived the Civil War and the Great Depression has filed chapter 11. Barclays an English bank is buying the bankrupt company.
Analysts say there are more bail outs to come . . .
As of Jan. 2008 the American dollar was worth 40 % less than it was in 2002. Over the past few weeks it has plummeted even farther.
All of this mess due to deregulation and the ensuing lawless corruption and greed. Deregulation, the conservative republican battle cry since the Reagan era and highly touted by every conservative pundant and talk show host since the deregulation of the media. (which also led to the removal of the "fairness doctrine".) We have been told that government is not to be trusted with business oversight or regulations of any kind. Government is inept, full of bureaucracy, and graft. (Even though that same dreaded and feared entity just took over the 2 largest privatized lending institutions in our nation’s history.)
The reporting of this financial catastrophe is scarce at best. The under lying cause of the debacle is only existent in blogs and the far left media. I guess John Mayer hit it on the head when he sang, “When they own the information they can bend it all they want.” We’ve been bent so far that our collective backs are about to break.
DaG Out
Tuesday, September 16, 2008
Staying on Message
Going to try to stay on point. Trying to ignore the Hockey mom from Alaska. It's John McCain and his campaign team that we need to focus on. Let's begin with a McCain's supposed opposition to lobbyists and special interests. During one speech he railed against them bemoaning the "revolving door" by which lawmakers and other influential officials leave their posts and become lobbyists for the special interests they have aided." Let's compare:
John McCain's campaign staff:
1. Rick Davis ( campaign manager and co-founded a lobbying firm)
2. & 3. Steve Schmidt and Mark Mickinnon, (former Dell and Fannie Mae lobbyist)
4. Charles Black (McCain's chief economic adviser and chairman on one of Washington's most powerful lobbying firms)
5. Phil Gramm - (McCain's co-chairman of the general campaign - former Senator and paid lobbyist for giant Swiss Bank UBS. Where he up until recently he was executive of U.S. operations. )
And don't forget the country of Georgia's former lobbyist Randy Schuenemann, he's McCain's foreign policy adviser. All of the above will most likely have prominent positions in a McCain administration.
Barak Obama's campaign staff:
1. David Poluffe _Obama's campaign manager- long time Democratic political organizer and strategist - never been a lobbyist. )
2. Stephanie Cutter, ( was Senator John F. Kerry's communications director for his 2004 presidential bid, will be Michelle Obama's top aide, as well as a senior adviser to the campaign. -never been a lobbyist)
3. Patti Solis Doyle ( Senior adviser - former campaign manager for Hillary Clinton who has reportedly had a falling out with the inner circle since being forced out. - never been a lobbyist)
4. Valerie Jarret (Senior campaign adviser and friend of Michele Obama. CEO of The Habitat Co., a real estate development and management company; she joined the firm in 1995. 2004 helped with Obama's Senate campaign- never been a lobbyist)
5. David Axelrod ( Media Strategist - Former reporter and democratic campaign strategist -never been a lobbyist)
None of Obama's people are or have been lobbyist. Not one could even be considered, in the most liberal terms a . . ." power broker."
'nuff said
Well, almost. I want to play some more. You want to play? Let's play. Let's elaborate on former Sen. Phil Gramm, one of McCain's connections to the biggest financial catastrophe since the Great Depression. Sen. Phil Gramm, known as "foreclosure Phil" eight years ago, as part of a decades-long anti-regulatory crusade, Gramm pulled a sly legislative maneuver that greased the way to the multi-billion dollar sub prime meltdown, the current mortgage crisis, bank and lending institution failures. This same man, (and I use the term loosely) , advises the Republican presidential candidate on economic matters. He's been mentioned as a possible Treasury secretary should McCain win. Gramm in charge of US economic policy. Comforting.
If these guys get to control the U.S. economy for another 4 years, we're going to need a lot more lube.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Looking ahead: Our troops on the ground in Pakistan without Pakistan's permission. Is this the October surprise or just another war front? Also, General Petraes passes the baton and will not say, "Victory" regarding Iraq. Are you listening Lindsey Graham?! Gov. Perry orders a media black out of the devastation left by hurricane Ike. Why?
DaG Out
John McCain's campaign staff:
1. Rick Davis ( campaign manager and co-founded a lobbying firm)
2. & 3. Steve Schmidt and Mark Mickinnon, (former Dell and Fannie Mae lobbyist)
4. Charles Black (McCain's chief economic adviser and chairman on one of Washington's most powerful lobbying firms)
5. Phil Gramm - (McCain's co-chairman of the general campaign - former Senator and paid lobbyist for giant Swiss Bank UBS. Where he up until recently he was executive of U.S. operations. )
And don't forget the country of Georgia's former lobbyist Randy Schuenemann, he's McCain's foreign policy adviser. All of the above will most likely have prominent positions in a McCain administration.
Barak Obama's campaign staff:
1. David Poluffe _Obama's campaign manager- long time Democratic political organizer and strategist - never been a lobbyist. )
2. Stephanie Cutter, ( was Senator John F. Kerry's communications director for his 2004 presidential bid, will be Michelle Obama's top aide, as well as a senior adviser to the campaign. -never been a lobbyist)
3. Patti Solis Doyle ( Senior adviser - former campaign manager for Hillary Clinton who has reportedly had a falling out with the inner circle since being forced out. - never been a lobbyist)
4. Valerie Jarret (Senior campaign adviser and friend of Michele Obama. CEO of The Habitat Co., a real estate development and management company; she joined the firm in 1995. 2004 helped with Obama's Senate campaign- never been a lobbyist)
5. David Axelrod ( Media Strategist - Former reporter and democratic campaign strategist -never been a lobbyist)
None of Obama's people are or have been lobbyist. Not one could even be considered, in the most liberal terms a . . ." power broker."
'nuff said
Well, almost. I want to play some more. You want to play? Let's play. Let's elaborate on former Sen. Phil Gramm, one of McCain's connections to the biggest financial catastrophe since the Great Depression. Sen. Phil Gramm, known as "foreclosure Phil" eight years ago, as part of a decades-long anti-regulatory crusade, Gramm pulled a sly legislative maneuver that greased the way to the multi-billion dollar sub prime meltdown, the current mortgage crisis, bank and lending institution failures. This same man, (and I use the term loosely) , advises the Republican presidential candidate on economic matters. He's been mentioned as a possible Treasury secretary should McCain win. Gramm in charge of US economic policy. Comforting.
If these guys get to control the U.S. economy for another 4 years, we're going to need a lot more lube.
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Looking ahead: Our troops on the ground in Pakistan without Pakistan's permission. Is this the October surprise or just another war front? Also, General Petraes passes the baton and will not say, "Victory" regarding Iraq. Are you listening Lindsey Graham?! Gov. Perry orders a media black out of the devastation left by hurricane Ike. Why?
DaG Out
Monday, September 15, 2008
I Got the Blues
It might be because it's Monday. Maybe it's because the Bears lost on Sunday. It may even be due to continuing awareness of my own mortality. Whatever the reason . . . I'm down. I am overwhelmed with pessimism. Well it is the Doom and Gloom report and not the "Happy Days are Here Again" chronicles. It appears to me that we are headed for another great depression that may well be worse than the first one. Here's my reasoning: in the 1930's we were the largest manufacturer of goods in the world. Today we are the largest consumer with the greatest amount of debt in the world. China is now the greatest manufacturer and hold the notes on most of our debt.
NEW YORK -- The American financial system was shaken to its core on Sunday. Lehman Brothers Holdings Inc. filed for bankruptcy protection, and Merrill Lynch & Co. agreed to be sold to Bank of America Corp.
Stocks Plunge amid Wall Street Turmoil
A stunning chain of events, including Lehman Brothers' announcement of a bankruptcy filing and BofA's deal to acquire Merrill Lynch, sparked a global sell-off Monday
Just last week Freddie Mac and Fannie Mae are bailed out by the tax payers:
James Hagerty, Ruth Simon and Damian Paletta examine the takeover and how it enables the Treasury to acquire $1 billion of preferred shares in each company and has pledged to provide as much as $200 billion to help the two companies deal with heavy losses on their mortgage defaults. All of this action could mean a greater burden placed on American taxpayers.
Before that was the Bear Stearns failure:
The nation's weak housing sector sent another shudder through Wall Street, with insurers and lenders taking further hits and Bear Stearns Cos. shutting off withdrawals from a mortgage-investment fund.
These are economical reasons for my purple funk. The following are some political reasons:
I'm beginning to think that the fix is in. Those who came to power and saw fit to staff government agencies and departments with unqualified party loyalists, those who have deregulated and removed any governmental over sight from our largest corporations. Those same power brokers aren't going to risk their gains to chance, or some far fetched ideology called Democracy. For example: Are you aware that over one million voter registrations have been sent out by the McCain campaign to Democratic districts in the "purple" states? (that if ignored by the voter will be used to contest their vote in November. Making them in effect a provisional ballot. Counted only at the discretion of the local election authorities. )
The proliferation of the Diebold electronic voting machines, that are now in 80% of the polling places.
In Tarrant County, Texas, electronic machines counted some ballots as many as six times, recording 100,000 more votes than were actually cast. In San Diego, poll workers took machines home for unsupervised "sleepovers" before the vote, leaving the equipment vulnerable to tampering.
(Remember how the machine totals were in direct contradiction to the exit polls and earlier phone polls.) Sept. 10, 7:40 am: USA - Diebold/Premier says too late to fix new voting machine time-out feature - 2-min. delay kicks voters to provisional ballots. Says 1,700 locations, 34 states affected.
Sept. 11, 7:52 am: WASHINGTON DC - Votes double-counted on Sequoia optical scan machine in DC. Alert writers for the Washington City Paper extracted more information from officials. See articles Here & Here - Then Wash. Post picked it up Here. Note that Sequoia optical scan system double-counted votes in Florida; you can read more about that Here. Black Box Voting is on it, working Freedom of Information documents. I'm still going to cast my vote but, it is so very disheartening when it is conceivable and highly likely that those in power don't want to give it up just because the American voter might want them to. The cynic in me says, their not going to leave it up to chance. In the event that Obama receives enough electoral votes to be named President, you can count on all these pre-emptive measures to come into play. If you thought the 2000 election was a cluster fuck . . .you just wait. If the Repubs lose this one, (Oh if only. ) they will contest every vote coming from a Democratic precinct. Both sides already have hundreds of lawyers on retainer for the after party. There will be protests, law suits, cease and desist orders, recounts, and court rulings that stop the recounts etc etc. I would say that it will end up with the Supreme court appointing a president like they did W but, maybe not because when they did that in 2000, they wrote what was in effect a "signing statement". The addendum specifically states that this is a one time decision. It was never to be used as a precedent. Something like Dean Werner's "double secret probation".
I'm going to try something in order to make myself feel better. For those of you who read my blogs you are familiar with my prognosticating abilities. I'm not very good. Whether it's predicting the winner of football games, a pre-emptive strike on Iran, or even the naming of the Republican VP in the 2008 election (Mitt Romney, what was I thinking?) So as my own attempt at a pre-emptive political maneuver I am going to predict that John McCain will be the next President of the United States. Contingent of course the prospect that we actually will get to hold elections. Remember I also predicted some state of emergency that would have W declare Martial law. Well?! Like I've said before . . . I ain't Nostradamus!
You can read more about the voting machines at these sites:
http://www.rollingstone.com/politics/story/11717105/robert_f_kennedy_jr__will_the_next_election_be_hacked/printh
http://www.blackboxvoting.org/
http://www.onlinejournal.com/evoting/042804Landes/042804landes.html
DaG out
NEW YORK -- The American financial system was shaken to its core on Sunday. Lehman Brothers Holdings Inc. filed for bankruptcy protection, and Merrill Lynch & Co. agreed to be sold to Bank of America Corp.
Stocks Plunge amid Wall Street Turmoil
A stunning chain of events, including Lehman Brothers' announcement of a bankruptcy filing and BofA's deal to acquire Merrill Lynch, sparked a global sell-off Monday
Just last week Freddie Mac and Fannie Mae are bailed out by the tax payers:
James Hagerty, Ruth Simon and Damian Paletta examine the takeover and how it enables the Treasury to acquire $1 billion of preferred shares in each company and has pledged to provide as much as $200 billion to help the two companies deal with heavy losses on their mortgage defaults. All of this action could mean a greater burden placed on American taxpayers.
Before that was the Bear Stearns failure:
The nation's weak housing sector sent another shudder through Wall Street, with insurers and lenders taking further hits and Bear Stearns Cos. shutting off withdrawals from a mortgage-investment fund.
These are economical reasons for my purple funk. The following are some political reasons:
I'm beginning to think that the fix is in. Those who came to power and saw fit to staff government agencies and departments with unqualified party loyalists, those who have deregulated and removed any governmental over sight from our largest corporations. Those same power brokers aren't going to risk their gains to chance, or some far fetched ideology called Democracy. For example: Are you aware that over one million voter registrations have been sent out by the McCain campaign to Democratic districts in the "purple" states? (that if ignored by the voter will be used to contest their vote in November. Making them in effect a provisional ballot. Counted only at the discretion of the local election authorities. )
The proliferation of the Diebold electronic voting machines, that are now in 80% of the polling places.
In Tarrant County, Texas, electronic machines counted some ballots as many as six times, recording 100,000 more votes than were actually cast. In San Diego, poll workers took machines home for unsupervised "sleepovers" before the vote, leaving the equipment vulnerable to tampering.
(Remember how the machine totals were in direct contradiction to the exit polls and earlier phone polls.) Sept. 10, 7:40 am: USA - Diebold/Premier says too late to fix new voting machine time-out feature - 2-min. delay kicks voters to provisional ballots. Says 1,700 locations, 34 states affected.
Sept. 11, 7:52 am: WASHINGTON DC - Votes double-counted on Sequoia optical scan machine in DC. Alert writers for the Washington City Paper extracted more information from officials. See articles Here & Here - Then Wash. Post picked it up Here. Note that Sequoia optical scan system double-counted votes in Florida; you can read more about that Here. Black Box Voting is on it, working Freedom of Information documents. I'm still going to cast my vote but, it is so very disheartening when it is conceivable and highly likely that those in power don't want to give it up just because the American voter might want them to. The cynic in me says, their not going to leave it up to chance. In the event that Obama receives enough electoral votes to be named President, you can count on all these pre-emptive measures to come into play. If you thought the 2000 election was a cluster fuck . . .you just wait. If the Repubs lose this one, (Oh if only. ) they will contest every vote coming from a Democratic precinct. Both sides already have hundreds of lawyers on retainer for the after party. There will be protests, law suits, cease and desist orders, recounts, and court rulings that stop the recounts etc etc. I would say that it will end up with the Supreme court appointing a president like they did W but, maybe not because when they did that in 2000, they wrote what was in effect a "signing statement". The addendum specifically states that this is a one time decision. It was never to be used as a precedent. Something like Dean Werner's "double secret probation".
I'm going to try something in order to make myself feel better. For those of you who read my blogs you are familiar with my prognosticating abilities. I'm not very good. Whether it's predicting the winner of football games, a pre-emptive strike on Iran, or even the naming of the Republican VP in the 2008 election (Mitt Romney, what was I thinking?) So as my own attempt at a pre-emptive political maneuver I am going to predict that John McCain will be the next President of the United States. Contingent of course the prospect that we actually will get to hold elections. Remember I also predicted some state of emergency that would have W declare Martial law. Well?! Like I've said before . . . I ain't Nostradamus!
You can read more about the voting machines at these sites:
http://www.rollingstone.com/politics/story/11717105/robert_f_kennedy_jr__will_the_next_election_be_hacked/printh
http://www.blackboxvoting.org/
http://www.onlinejournal.com/evoting/042804Landes/042804landes.html
DaG out
Sunday, September 14, 2008
A wiser man than I once said
" I have already intimated to you the danger of parties in the state, with particular reference to the founding of them on geographical discriminations. Let me now take a more comprehensive view, and warn you in the most solemn manner against the baneful effects of the spirit of party, generally. This spirit, unfortunately, is inseparable from our nature, having its root in the strongest passions of the human mind. It exists under different shapes in all governments, more or less stifled, controlled, or repressed; but, in those of the popular form, it is seen in its greatest rankness, and is truly their worst enemy. The alternate domination of one faction over another, sharpened by the spirit of revenge, natural to party dissension, which in different ages and countries has perpetrated the most horrid enormities, is itself a frightful despotism. But this leads at length to a more formal and permanent despotism. The disorders and miseries, which result, gradually incline the minds of men to seek security and repose in the absolute power of an individual; and sooner or later the chief of some prevailing faction, more able or more fortunate than his competitors, turns this disposition to the purposes of his own elevation, on the ruins of Public Liberty. "
From George Washington's farewell speech to the American people in 1796
From George Washington's farewell speech to the American people in 1796
Friday, September 12, 2008
Too much to get to
Palin's interview with "Charlie" (she said his name 7 times in a 9 and a half minute interview. He was surprisingly stern and at times seemed very frustrated by her regurgitation of talking points. "Radical Islamic extremists, hell bent on destroying America." . . ."We cannot second guess what Israel has to do to secure it's nation." . . . When she mentioned as part of her foreign policy experience that fact that you can see Russia from the shores of Alaska, Gibson actually looked peeved. When asked if she agreed with the Bush Doctrine, Ms Palin looked like a deer in the head lights and spoke much like another beauty pageant contestant we all grew to know and laugh at. - Let's re-watch the interview and play the drinking game called "Charlie".
. . . Georgia invades Ossetia only weeks after Rice, Rove, and Scheuneman (McCain's key advisor / Georgian lobbyist) met with Mikheil Saakashvili, the president of Georgia. Interesting that none of our national media points out the fact that Georgia bombed Ossetia first then Russia came to Ossetia's rescue and opened a big old can of Whoop ass. All of our politicians, including Obama and Biden are responding to the Russian response as if they started it, and invaded a sovereign country. (Hmmm, where have I heard that before?). . . . President Bush is still saber rattling with Iran . . . . Bolivia is undergoing political upheaval . . . Bolivia and Venezuela have kicked out Ambassadors . . . Reports of voter "caging" in the purple states. . . . Hurricane Ike is going to slam into Galveston Texas . . . .
and Tom Brady out for the season . . .
DaG out
. . . Georgia invades Ossetia only weeks after Rice, Rove, and Scheuneman (McCain's key advisor / Georgian lobbyist) met with Mikheil Saakashvili, the president of Georgia. Interesting that none of our national media points out the fact that Georgia bombed Ossetia first then Russia came to Ossetia's rescue and opened a big old can of Whoop ass. All of our politicians, including Obama and Biden are responding to the Russian response as if they started it, and invaded a sovereign country. (Hmmm, where have I heard that before?). . . . President Bush is still saber rattling with Iran . . . . Bolivia is undergoing political upheaval . . . Bolivia and Venezuela have kicked out Ambassadors . . . Reports of voter "caging" in the purple states. . . . Hurricane Ike is going to slam into Galveston Texas . . . .
and Tom Brady out for the season . . .
DaG out
Thursday, September 11, 2008
On this anniversary
Venezuela's president Hugo Chavez has told the American Ambassador to leave and has called home his Ambassador from the U.S. Generally this kind of thing happens prior to military action. Apparently he's had enough of the Bush regime's attempts to remove him from power even though, he was democratically elected.
CNN reports: Chavez, who had a previous coup attempted on him in 2002, said the former plotters "are the same people involved in this coup attempt. Behind them is the American empire."
But he said the presence of two Russian warplanes on Venezuelan soil for a training exercise "is a warning" to the rest of the world that Venezuela's allies include Russia and other countries.
Chavez added that, should any country in Latin America be overthrown, he would interpret that to be "the green light to undertake military operations of any sort in those countries, and restore power back to the people."
And he had a message for President Bush, beseeching him, to "go wherever you have to go and leave the Latin-American people alone."
On this Anniversary of the tragic loss of life that was perpetrated by religious zealots against civilians that had absolutely nothing to do with putting troops on foreign "Holy" soil. We are 7 years out from a time when we were all Americans. The world was on our side, or at least the majority of it. What happened? How did we get here? I'll give you my opinion: unchecked greed disguised as God's will. Now remember I'm agnostic but, I just gotta say, "God help us."
DaG out
CNN reports: Chavez, who had a previous coup attempted on him in 2002, said the former plotters "are the same people involved in this coup attempt. Behind them is the American empire."
But he said the presence of two Russian warplanes on Venezuelan soil for a training exercise "is a warning" to the rest of the world that Venezuela's allies include Russia and other countries.
Chavez added that, should any country in Latin America be overthrown, he would interpret that to be "the green light to undertake military operations of any sort in those countries, and restore power back to the people."
And he had a message for President Bush, beseeching him, to "go wherever you have to go and leave the Latin-American people alone."
On this Anniversary of the tragic loss of life that was perpetrated by religious zealots against civilians that had absolutely nothing to do with putting troops on foreign "Holy" soil. We are 7 years out from a time when we were all Americans. The world was on our side, or at least the majority of it. What happened? How did we get here? I'll give you my opinion: unchecked greed disguised as God's will. Now remember I'm agnostic but, I just gotta say, "God help us."
DaG out
Sex, Lipstick, and Arrogance
Clearly Obama made the "Lipstick on a Pig" analogy, referring to McCain's policies. However, anyone who watched Palin's acceptance speech chuckled, including Obama. I thought it was very clever. What seemed to get overlooked was his next policy analogy, " . . .an old dead fish wrapped in today's newspaper still stinks after eight years. again, very clever. The pro Obama crowd and the rest of America perceives: Lipstick and Pig=Palin and Old Dead Fish = McCain. I don't understand the McCain camp's response to this. They are demanding an apology for this "sexist" remark. If they are so disgusted by sexism why in the world did let their delegates display buttons that read," Hottest Governor from the coolest state." at their convention?
Oh wait I think I got it. Sexism is not to be tolerated when it congers up images of "ugly and fat" women , but when sexism congers up images of "attractive and fuck-able" women it is encouraged.
We don't know how Gov. Palin feels about all this BS because SHE HASN'T BEEN ALLOWED TO SPEAK TO THE NATIONAL NEWS MEDIA! SHE'S ONLY GIVEN A FEW SPEECHES ON THE CAMPAIGN TRAIL. In fact FOX, CNN, AND MS NBC interupted regularly scheduled programing last night to show (in it's entirety) Palin's speech to her Alaskan supporters. Funny, I haven't seen any campaign speeches in their entirety by Obama or Biden on these networks. Damn "liberal" media!
Rick Davis (whose first name is only missing the letter 'P' to truly describe him) is McCain's campaign manager and "former" lobbyist. He shows his true contempt and lack of respect for the American voter in this interview with Chris Wallace.
http://www.youtube.com/watch?v=tbC_f2YTpV4
The McCain campaign slogan shouldn't be "America First" it should be "Politics First". If you're short on time start watching at 3 minutes in, and watch til the end. I never thought I say this to a Fox Commentator but, kudos Chris Wallace.
DaG out
Oh wait I think I got it. Sexism is not to be tolerated when it congers up images of "ugly and fat" women , but when sexism congers up images of "attractive and fuck-able" women it is encouraged.
We don't know how Gov. Palin feels about all this BS because SHE HASN'T BEEN ALLOWED TO SPEAK TO THE NATIONAL NEWS MEDIA! SHE'S ONLY GIVEN A FEW SPEECHES ON THE CAMPAIGN TRAIL. In fact FOX, CNN, AND MS NBC interupted regularly scheduled programing last night to show (in it's entirety) Palin's speech to her Alaskan supporters. Funny, I haven't seen any campaign speeches in their entirety by Obama or Biden on these networks. Damn "liberal" media!
Rick Davis (whose first name is only missing the letter 'P' to truly describe him) is McCain's campaign manager and "former" lobbyist. He shows his true contempt and lack of respect for the American voter in this interview with Chris Wallace.
http://www.youtube.com/watch?v=tbC_f2YTpV4
The McCain campaign slogan shouldn't be "America First" it should be "Politics First". If you're short on time start watching at 3 minutes in, and watch til the end. I never thought I say this to a Fox Commentator but, kudos Chris Wallace.
DaG out
Wednesday, September 10, 2008
Little risk and Big reward for telling lies
The lie is heard . . .the rebuttal is not. With the corporate media owning 85 percent of the airwaves, their candidate can spout any kind of untruth without fear of being called out. It’s a numbers game. The corporate media will not point out the lie. FOX and their affiliates will re-air and promote the lie again and again. If the 15% of independent news or commentary catch it and prove the falsehood, such a small percentage of the people will ever see or hear it. This is why the conservatives have so much sway and can frame the issues in their favor and put the liberals on the defensive. Millions see or hear the lie while a few hundred thousand will see or hear the truth. Example: McCain’s latest ad states that Obama supported a program that would have comprehensive sexual education taught to kindergartners. The truth is he supported a program that stated if a school already includes sex-ed in their curriculum it would add sexual transmitted disease education. Secondly the program helps protect children as young as kindergarten from sexual predators, by educating them on inappropriate touch by adults. Encouraging them to tell someone the trust about the inappropriate touching. This is why it is so very important to keep blogging and supporting the independent media.
This is the world we live in. Since the advent of television coverage of candidates, the issues no longer matter. Those who get elected are the ones who look most like us, the voter. They don't have to be knowledgeable on the issues they just need to seem like somebody you can have a beer with (see the last 8 years). The Republican party seems to have mastered this "personality" contest. They can spew acid with a smile and evoke sympathy when that same acid blows onto their face. When someone like Obama points out this ridiculousness it falls on deaf ears. So much of our country wants WWE politics instead thought provoking discussion of the issues.
My son and I have debated whether or not the Dems should learn from the Repubs and lower their level of discourse to that of the Repubs. I say they should. He says they shouldn't. I don't believe the high road will garner enough votes to get elected. Therefore change will never come. He believes that the end doesn't justify the means. I'm not sure which of us is right.
With the debates right around the corner I thought you might like to know a little something about the process and the entire lack of spontaneity: The Commission on Presidential Debates was formed in 1987 to replace the non-partisan League of Women Voters, which included independent candidate John Anderson in the first 1980 presidential debate and prohibited the major party candidates from selecting the debate panelists in 1984. Frank Fahrenkopf, then chairman of the Republican National Committee and now the leading lobbyist for the gambling industry, and Paul Kirk, then chairman of the Democratic National Committee and now a lobbyist for the pharmaceutical industry, created The Commission on Presidential Debates.
Since they have taken it over, all questions have been pre-screened even to the extent of who gets to ask the question. The candidates are full aware of what they will be asked or the debate will not take place. In 1988 the League of women voters no longer sponsored the debates. The press release read: The league refuses to “help perpetrate a fraud” and withdraws support of the Presidential debate.
Some notable quotes about the commission:
"I'm trying to forget the whole damn experience of those debates. 'Cause I think it's too much show business and too much prompting, too much artificiality, and not really debates. They're rehearsed appearances." Former President George Bush
"The debate commission is a corrupt duopoly." Steve Forbes
“They should be charged with sabotaging the electoral process." Walter Cronkite
DaG out
This is the world we live in. Since the advent of television coverage of candidates, the issues no longer matter. Those who get elected are the ones who look most like us, the voter. They don't have to be knowledgeable on the issues they just need to seem like somebody you can have a beer with (see the last 8 years). The Republican party seems to have mastered this "personality" contest. They can spew acid with a smile and evoke sympathy when that same acid blows onto their face. When someone like Obama points out this ridiculousness it falls on deaf ears. So much of our country wants WWE politics instead thought provoking discussion of the issues.
My son and I have debated whether or not the Dems should learn from the Repubs and lower their level of discourse to that of the Repubs. I say they should. He says they shouldn't. I don't believe the high road will garner enough votes to get elected. Therefore change will never come. He believes that the end doesn't justify the means. I'm not sure which of us is right.
With the debates right around the corner I thought you might like to know a little something about the process and the entire lack of spontaneity: The Commission on Presidential Debates was formed in 1987 to replace the non-partisan League of Women Voters, which included independent candidate John Anderson in the first 1980 presidential debate and prohibited the major party candidates from selecting the debate panelists in 1984. Frank Fahrenkopf, then chairman of the Republican National Committee and now the leading lobbyist for the gambling industry, and Paul Kirk, then chairman of the Democratic National Committee and now a lobbyist for the pharmaceutical industry, created The Commission on Presidential Debates.
Since they have taken it over, all questions have been pre-screened even to the extent of who gets to ask the question. The candidates are full aware of what they will be asked or the debate will not take place. In 1988 the League of women voters no longer sponsored the debates. The press release read: The league refuses to “help perpetrate a fraud” and withdraws support of the Presidential debate.
Some notable quotes about the commission:
"I'm trying to forget the whole damn experience of those debates. 'Cause I think it's too much show business and too much prompting, too much artificiality, and not really debates. They're rehearsed appearances." Former President George Bush
"The debate commission is a corrupt duopoly." Steve Forbes
“They should be charged with sabotaging the electoral process." Walter Cronkite
DaG out
Tuesday, September 9, 2008
Rush Limbaugh is the Drive-By-Media
This was sent out as a mass fwd email :
What's in the heart comes out via the tongue!>From Rush Limbaugh's radio show yesterday.....Hey, folks, you want to tweak the Drive-By Media with me right now?You are aware, probably, that Barack Obama lost his bearings recently and said that he was going to campaign in all 57 states.You heard this? And most everybody chalked it up to, 'Well, he's tired.'You know, this is a Dan Quayle moment. I mean, Dan Quayle goes out there and misspells 'potato,' and we still hear jokes about it.Barack Obama says he's gonna go out and campaign in 57 states! He was just tired, you know, it's been such a long campaign, he's been so many places, he probably thinks there are 57 states. Well, I have here a printout from a web site called the International Humanist and Ethical Union.And here is how the second paragraph of an article on that website begins. 'Every year from 1999 to 2005 the organization of the Islamic conference representing the 57 Islamic states presented a resolution to the United Nations Commission on human rights called combating.'Obama said he's going to campaign in 57 states, and it turns out that there are 57 Islamic states.
There are 57 Islamic states! So did Obama just lose his bearings, or was this a more telling slip, ladies and gentlemen? KEEP IT GOING, FOLKS! Our future is at stake...Make no mistake about it.
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My response:
It just cracks me up. Obama meant he's been to 47 or so states. Understand that he had been on the campaign trail for weeks and weeks. Long flights, little rest, all politicians on the campaign trail are like rock musicians on tour. A new town a new state, almost everyday. They mis-speak. It's like the old joke, "Hello Cleveland!!! We love you!!" and the performer was in Pittsburgh.
Now, if you want to talk about mis-speaks try a few of these stumbles on for size: at the National Security Agency. Bush lashed out at his critics: "All I would ask them to do is listen to the words of Osama bin Laden and take him seriously. When he says he's going to hurt the American people again, or try to, he means it. I take it seriously, and the people of NSA take it seriously."
President Bush, of course, did not take Bin Laden seriously. About a year later when questioned about his silence regarding Bin Laden in the months following the American failure to capture the Al Qaeda chieftain in Tora Bora, Afghanistan, a nonchalant president Bush on March 13, 2002 downplayed his significance: "So I don't know where he is. You know, I just don't spend that much time on him, Kelly, to be honest with you...I'll repeat what I said. I truly am not that concerned about him."
President Bush on October 13, 2004 tried for a "do over" of his statement two and a half years earlier: "Gosh, I just don't think I ever said I'm not worried about Osama bin Laden. It's kind of one of those exaggerations. Of course we're worried about Osama bin Laden. "
This is an important misspeak. The man was well rested and talking about national security not how many states he'd visited while campaigning. You decide . I wonder if Rush is aware that President Bush announced on June 27 2007 that the United States will establish an envoy to the OIC. (Organization of Islamic Countries) Bush said of the envoy ``Our special envoy will listen to and learn from representatives from Muslim states, and will share with them America's views and values. [2]
So Rush are you going to tell your listeners that President Bush thinks we should listen and learn from representatives from Muslim states? Doubt it.
This kind of idiocy by the Rush Limbaugh's of the world is why our country can't move ahead. These guys need to make up their minds: Is Obama a Christian who attended Rev. Wright's church for twenty years listening to the "God Damn America" sermon or is he a radical, terrorists sympathizing Muslim? You can't have it both ways. Now take your anti -abortion- pro war and pro death penalty narrow minded, OPEC funding (yes that's right if you're a Nascar fan you are financially supporting the terrorist nations the attacked us on 9/11/2001. Who do you think benefits from all the fuel we burn up driving in circles for thousands of miles a year?), let everybody else do your thinking for you, pea brain and get the hell out of way. Our children's future has been compromised by the non-Christian value of "Greed" over "Sacrifice" for too long. Educate yourselves! Don't just take the word of incredibly wealthy talk show hosts who only support Republican views. Read a book. Then you'll know that it was the Christians who went on murderous crusades for "God" slaughtering hundreds of thousands of Muslims. What was their crime? What kind of horrible threat did they present? They didn't believe in the Christian God.
Thomas Jefferson said, " Millions of innocent men, women and children, since the introduction of Christianity, have been burnt, tortured, fined and imprisoned; yet we have not advanced one inch towards uniformity.
DaG Out
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What's in the heart comes out via the tongue!>From Rush Limbaugh's radio show yesterday.....Hey, folks, you want to tweak the Drive-By Media with me right now?You are aware, probably, that Barack Obama lost his bearings recently and said that he was going to campaign in all 57 states.You heard this? And most everybody chalked it up to, 'Well, he's tired.'You know, this is a Dan Quayle moment. I mean, Dan Quayle goes out there and misspells 'potato,' and we still hear jokes about it.Barack Obama says he's gonna go out and campaign in 57 states! He was just tired, you know, it's been such a long campaign, he's been so many places, he probably thinks there are 57 states. Well, I have here a printout from a web site called the International Humanist and Ethical Union.And here is how the second paragraph of an article on that website begins. 'Every year from 1999 to 2005 the organization of the Islamic conference representing the 57 Islamic states presented a resolution to the United Nations Commission on human rights called combating.'Obama said he's going to campaign in 57 states, and it turns out that there are 57 Islamic states.
There are 57 Islamic states! So did Obama just lose his bearings, or was this a more telling slip, ladies and gentlemen? KEEP IT GOING, FOLKS! Our future is at stake...Make no mistake about it.
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My response:
It just cracks me up. Obama meant he's been to 47 or so states. Understand that he had been on the campaign trail for weeks and weeks. Long flights, little rest, all politicians on the campaign trail are like rock musicians on tour. A new town a new state, almost everyday. They mis-speak. It's like the old joke, "Hello Cleveland!!! We love you!!" and the performer was in Pittsburgh.
Now, if you want to talk about mis-speaks try a few of these stumbles on for size: at the National Security Agency. Bush lashed out at his critics: "All I would ask them to do is listen to the words of Osama bin Laden and take him seriously. When he says he's going to hurt the American people again, or try to, he means it. I take it seriously, and the people of NSA take it seriously."
President Bush, of course, did not take Bin Laden seriously. About a year later when questioned about his silence regarding Bin Laden in the months following the American failure to capture the Al Qaeda chieftain in Tora Bora, Afghanistan, a nonchalant president Bush on March 13, 2002 downplayed his significance: "So I don't know where he is. You know, I just don't spend that much time on him, Kelly, to be honest with you...I'll repeat what I said. I truly am not that concerned about him."
President Bush on October 13, 2004 tried for a "do over" of his statement two and a half years earlier: "Gosh, I just don't think I ever said I'm not worried about Osama bin Laden. It's kind of one of those exaggerations. Of course we're worried about Osama bin Laden. "
This is an important misspeak. The man was well rested and talking about national security not how many states he'd visited while campaigning. You decide . I wonder if Rush is aware that President Bush announced on June 27 2007 that the United States will establish an envoy to the OIC. (Organization of Islamic Countries) Bush said of the envoy ``Our special envoy will listen to and learn from representatives from Muslim states, and will share with them America's views and values. [2]
So Rush are you going to tell your listeners that President Bush thinks we should listen and learn from representatives from Muslim states? Doubt it.
This kind of idiocy by the Rush Limbaugh's of the world is why our country can't move ahead. These guys need to make up their minds: Is Obama a Christian who attended Rev. Wright's church for twenty years listening to the "God Damn America" sermon or is he a radical, terrorists sympathizing Muslim? You can't have it both ways. Now take your anti -abortion- pro war and pro death penalty narrow minded, OPEC funding (yes that's right if you're a Nascar fan you are financially supporting the terrorist nations the attacked us on 9/11/2001. Who do you think benefits from all the fuel we burn up driving in circles for thousands of miles a year?), let everybody else do your thinking for you, pea brain and get the hell out of way. Our children's future has been compromised by the non-Christian value of "Greed" over "Sacrifice" for too long. Educate yourselves! Don't just take the word of incredibly wealthy talk show hosts who only support Republican views. Read a book. Then you'll know that it was the Christians who went on murderous crusades for "God" slaughtering hundreds of thousands of Muslims. What was their crime? What kind of horrible threat did they present? They didn't believe in the Christian God.
Thomas Jefferson said, " Millions of innocent men, women and children, since the introduction of Christianity, have been burnt, tortured, fined and imprisoned; yet we have not advanced one inch towards uniformity.
DaG Out
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Monday, September 8, 2008
God and Country
The day after I suspended my presidential campaign due to the impending Football season, Gov. Palin was named as the Republican VP candidate. Obviously, the Repubs followed my lead and nominated someone with about as much experience as myself. While a fresh face is a welcomed site on the Repub ticket, her association with the Anti-American Alaskan Independence Party (her husband was a card carrying member, and she sent the secessionists group a welcoming video at their in 2008 convention), her deplorable and duplicitous stance on ear marks (supported the bridge to no where until it became unpopular. When she was mayor of Wasilla she asked for roughly 27 million in ear marks. ) or, her apparent belief that God is pro pipeline and war, gives me pause. When she is interviewed by Charley Gibson this week I wonder if he'll ask her about her religious affiliation? (she and her husband belong to the Assembly of God church. Pentecostals. Holy Rollers who get filled with the holy spirit and speak in tongues. (languages that only God understands.) Now don't get me wrong, to each their own. Like Jefferson said, " . . . it does me no injury for my neighbor to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg."
However, when an elected official makes policy or military decisions based on their religious beliefs rather than rational thinking or the will of the people then I have a problem. Every country that has ever entered into war believed that God was on their side. The Christians say we need to fear the Muslims because they want to destroy us. Yet, those same Christians are eagerly looking forward to Christ's return. They speak of the "End Times" and how the can't wait for the rapture that is promised in the book of Revelations. Um, that would destroy us as well. Both these religious extremes should be cause for alarm. I don't want to be blown up by a Muslim extremists nor am I looking forward to Armageddon, the rapture or any of that hullabaloo. I've got football to watch!
DaG out
However, when an elected official makes policy or military decisions based on their religious beliefs rather than rational thinking or the will of the people then I have a problem. Every country that has ever entered into war believed that God was on their side. The Christians say we need to fear the Muslims because they want to destroy us. Yet, those same Christians are eagerly looking forward to Christ's return. They speak of the "End Times" and how the can't wait for the rapture that is promised in the book of Revelations. Um, that would destroy us as well. Both these religious extremes should be cause for alarm. I don't want to be blown up by a Muslim extremists nor am I looking forward to Armageddon, the rapture or any of that hullabaloo. I've got football to watch!
DaG out
Sunday, September 7, 2008
Nice Scam!
Financial Update:
As earlier reported the Fed is going to takeover Fannie Mae and Freddie Mac. They will bolster those companies capital on a quarterly basis with your and my tax dollars. It is interesting to me that most of us don't give it a second thought. Ask 100 shoppers at your local mall and I'll wager 92 of them won't know anything about the takeover. Then I'll double down and bet that 97 of them won't know who benefits from the takeover. Let's look at this from a stock trader's perspective: Those who bought the FM1 and FM2 about 5 or so years back, have either sold short or taken a bath. The stock is now pennies on the dollar and it's a good time to get in.
Those with enough political sway to enable a buy out of this magnitude aren't doing it out of the goodness of their hearts. There's a profit to be made, one of equal or greater magnitude. This is the dirty little secret. With government help those with millions sneakily make millions more when our tax dollars are used to rescue their investments. The Federal Reserve's policies and practices encourage these institutions to over extend themselves. Then by adjusting and in some cases completely reverse long time precidents, use tax revenues or credit from the Chinese to increase their investments capital worth. (probably just long enough for the Chinese to relax) Then sell short just before the next national finance disaster. Or pass on the debt to our children. Follow the money.
DaG out
As earlier reported the Fed is going to takeover Fannie Mae and Freddie Mac. They will bolster those companies capital on a quarterly basis with your and my tax dollars. It is interesting to me that most of us don't give it a second thought. Ask 100 shoppers at your local mall and I'll wager 92 of them won't know anything about the takeover. Then I'll double down and bet that 97 of them won't know who benefits from the takeover. Let's look at this from a stock trader's perspective: Those who bought the FM1 and FM2 about 5 or so years back, have either sold short or taken a bath. The stock is now pennies on the dollar and it's a good time to get in.
Those with enough political sway to enable a buy out of this magnitude aren't doing it out of the goodness of their hearts. There's a profit to be made, one of equal or greater magnitude. This is the dirty little secret. With government help those with millions sneakily make millions more when our tax dollars are used to rescue their investments. The Federal Reserve's policies and practices encourage these institutions to over extend themselves. Then by adjusting and in some cases completely reverse long time precidents, use tax revenues or credit from the Chinese to increase their investments capital worth. (probably just long enough for the Chinese to relax) Then sell short just before the next national finance disaster. Or pass on the debt to our children. Follow the money.
DaG out
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