The American taxpayer bails out some of the largest financial instutions in the country to the tune of $700 billion. They in turn, rapidly secure $150 billion to grease the pockets of their executives.
What better sign do we have of global warming than the record LOW temperatures that we've been seeing?
Feds prepare to cut interest rates to 1%. This means almost nothing to the American consumer. It's just another gift to the Wall Street. The interest rates on our credit cards and ARM mortgages will either remain the same or increase.
Charles Barkeley is not the biggest fan of Fox News. Hey, join the club!!!
Pretty interesting blog post on Michelle Obama. It's entitled "Fear of a Black First Lady". The title speaks for itself.......Doesn't matter though. Her hubby is ahead in almost every battleground state.
Military brass decide that it would step aside in case an Iraqi civil war begins. WTF??!! This couldn't be because we're pissed about their changes to the security agreement?
A Catholic priest in Australia angers the masses by saying that Jesus is not God. That should go over well in the Christian community. Personally, I think that it's relatively easy to distinguish between crea-TION and the Crea-TOR.
Massachusetts State Senator caught on tape putting bribe money in her bra. Doh!!!!
Convicted felon Ted Stevens is still running for office despite being convicted for corruption. Hey, just a thought. Can he cast his votes from his jail cell?
This has to be one of the best stories that I've read that has come from the foreclosure crisis.
Wednesday, October 29, 2008
Thursday, October 23, 2008
Global Warming Fruitcakes, Palin's Pricey Wardrobe and Hip Hop Kings for Obama
John McCain says that during the last 8 years under Bush, Republicans let thing "get out of hand" with the War in Iraq and with the growth of government. You think??!!! Well, he also says that Obama will do the same thing. Only HE will do better than both. Yeah, okay Senator. I didn't see you condemning these policies when we were bathing on our power.
Meanwhile, Obama is planning his big post-election bash. Slow down turbo, that light you see in your rear is John McCain.
The Best of Both Worlds duo of Jay-Z and LeBron James are hosting a rally for Obama.
The RNC spends $150,000 to help upgrade Sarah Palin's wardrobe. Not everyone's is impressed; especially those who have been footing the bill. Hey, Palin just a regular hockey mom. Don't they all have that kinda cash available for a few blouses and skirts??
More global warming madness. These cyclists are freezing their tails off in their effort to promote awareness of global warming. Yeah, makes a lot of sense to me too.
Now that we've nationalized our finacial institutions, is this next for us here?
Foreclosure filing up 71% in the 3rd Qtr. It looks like the government is on its way to save the day!! Do we all need to stop paying our monthly mortgage payments?
I meant to link this last week. But, here you go today. Peggy Noonan isn't impressed with Sarah Palin. She also blasts today's Republicans for selling out in order to concentrate their personal powers while condemning anyone for criticizing their behavior.
Meanwhile, Obama is planning his big post-election bash. Slow down turbo, that light you see in your rear is John McCain.
The Best of Both Worlds duo of Jay-Z and LeBron James are hosting a rally for Obama.
The RNC spends $150,000 to help upgrade Sarah Palin's wardrobe. Not everyone's is impressed; especially those who have been footing the bill. Hey, Palin just a regular hockey mom. Don't they all have that kinda cash available for a few blouses and skirts??
More global warming madness. These cyclists are freezing their tails off in their effort to promote awareness of global warming. Yeah, makes a lot of sense to me too.
Now that we've nationalized our finacial institutions, is this next for us here?
Foreclosure filing up 71% in the 3rd Qtr. It looks like the government is on its way to save the day!! Do we all need to stop paying our monthly mortgage payments?
I meant to link this last week. But, here you go today. Peggy Noonan isn't impressed with Sarah Palin. She also blasts today's Republicans for selling out in order to concentrate their personal powers while condemning anyone for criticizing their behavior.
Tuesday, October 21, 2008
Tuesday's Tastings
Federal Reserve Chair Ben Bernanke supports Obama's plan for a second stimulus package. The Wall Street Journal says he's just trying to keep his job under a new Obama administration.
John McCain says that contrary to popular belief, his campaign is focused on the economy. I think that he needs to tell this to the leaders of his campaign who are seriously considering bringing Jermiah Wright into the election. He also needs to relay the message to his speech-writer.
The U.S. Government drops charges against 5 prisoners at Gitmo.
General Colin Powell endorses Barack Obama's candidacy and condemns Republicans for their divisive politics. CAIR applauds the general for his stance against islamophobia. Related: Keith Olbermann lays into McCain for the same divisive politics.
The Iraqi government seeks changes to their security agreement with the United States. They insist that these changes are needed to gain "national acceptance" of the pact. Why we simply won't give them back their country and let them do their own security is beyond me. Oh wait. Nevermind.
More evidence that this whole global warming thing is a farce.
The bigots have came out of the woodwork.
John McCain says that contrary to popular belief, his campaign is focused on the economy. I think that he needs to tell this to the leaders of his campaign who are seriously considering bringing Jermiah Wright into the election. He also needs to relay the message to his speech-writer.
The U.S. Government drops charges against 5 prisoners at Gitmo.
General Colin Powell endorses Barack Obama's candidacy and condemns Republicans for their divisive politics. CAIR applauds the general for his stance against islamophobia. Related: Keith Olbermann lays into McCain for the same divisive politics.
The Iraqi government seeks changes to their security agreement with the United States. They insist that these changes are needed to gain "national acceptance" of the pact. Why we simply won't give them back their country and let them do their own security is beyond me. Oh wait. Nevermind.
More evidence that this whole global warming thing is a farce.
The bigots have came out of the woodwork.
Thursday, October 16, 2008
Good for the Goose. Good for the Gander
On April 20th 2005, President Bush signed into law a new bankruptcy bill that would change the way consumer debt is handled in this country. For most Americans, bankruptcy would no longer be a vehicle to get a fresh start away from heavy financial pressure and inability to pay current obligations for hospital bills, divorce, job loss etc. Even confirmed victims of identity theft would be subject to the new reform guidelines. Those going through bankruptcy would have a much greater burden of proof and far more rigorous standards to prove financial hardship and inability to pay off their overwhelming debt. Credit card debt would be the toughest item to get included in their bankruptcy package.
Obviously, the signage of this bill was widely recognized as a win to banks, credit card companies and auto manufacturers who many times finance the autos they sell. The banks and credit card companies can now be guaranteed a far greater return of the debt they are owed by forcing the debtor to undergo a gauntlet of judicial hurdles before relieving themselves of any debt. According to the proponents of the bill, these “dead-beat” borrowers needed to be accountable for their bad financial decisions.
Those who opposed the deal argued that the new standards were completely one-sided and favored the banks without any consumer protection balance measures. Several legislators proposed provisions that would limit excessive interest rates and the lending practices that would lead to unaffordable monthly payments. However, these provisions didn’t make it onto the final bill.
Fast forward two and a half years.
Recently, the United States Congress approved giving around $700 billion of taxpayer money to some of the most prominent banks and financial institutions in our country. This bail-out will be used to eliminate debt and provide an influx of cash that would help restore confidence in today’s financial system. Where’s the accountability that they promoted so vehemently for consumers?
This plan has been heavily supported and promoted by President Bush, Treasury Secretary Ron Paulson and anxious Wall Street investors who are scrambling like mad in order to prevent additional heavy losses created by defaults on the loans they provided
The same companies that provided or insured these loans are the same ones now seeking to be bailed out by the American taxpayer. The same companies that forced the bankruptcy bill down the throats of the American public are the ones that hope to be left unaccountable for their own actions and bad decisions. Clearly, if consumers are at fault for signing for loans that they could not afford, these banks need to be equally at fault for giving it to them. However, now they seek to be “bailed-out” while the consumer on the other end loses their home. Well, if that’s the case, they should lose their businesses.
Surely, to see this coming didn’t require the reincarnation of Nostradamus. The writing on the wall was as clear as Michelangelo’s “Creation” painting at the Sistine Chapel. The banks knew this was coming, but still made the loans.
However, they do not want to be subjected to the same humiliating bankruptcy process that they strongly advocated for their troubled customers. Smarter banks that did not provide these risky loans will now have to compete with other financial institutions that are subsidized by the federal government. Certainly, it would be tougher for their businesses to compete. Although their competitors have shown severe operational deficiencies and make questionable decisions, they are financed by taxpayer dollars that guarantee their existence. What’s American about that?
In the vast history of business in the United States, many companies have failed. It would be nearly impossible to determine exactly how many companies have gone out of business. When most companies fail to make smart business decisions, they end up in front of the bankruptcy judge; likewise for the consumers who cannot properly manage their finances. However, Federal Reserve Chair Ben Bernanke says these companies are simply “too large to fail”, so they aren’t subjected to the same process and procedures as the rest of us.
It is against the equal-protection provision of the U.S. Constitution to allow some companies to fail while the well-connected companies are given taxpayer dollars in order to forgive them for their mismanaged funds. Large companies fail all of the time. However, the solution is never to nationalize the companies. Usually, they are auctioned off to preserve the free-market system and the American way of doing business.
If these companies cannot manage their finances, they need to be subjected to the same procedures as they promoted for their consumers. What’s good for the goose is good for the gander.
Obviously, the signage of this bill was widely recognized as a win to banks, credit card companies and auto manufacturers who many times finance the autos they sell. The banks and credit card companies can now be guaranteed a far greater return of the debt they are owed by forcing the debtor to undergo a gauntlet of judicial hurdles before relieving themselves of any debt. According to the proponents of the bill, these “dead-beat” borrowers needed to be accountable for their bad financial decisions.
Those who opposed the deal argued that the new standards were completely one-sided and favored the banks without any consumer protection balance measures. Several legislators proposed provisions that would limit excessive interest rates and the lending practices that would lead to unaffordable monthly payments. However, these provisions didn’t make it onto the final bill.
Fast forward two and a half years.
Recently, the United States Congress approved giving around $700 billion of taxpayer money to some of the most prominent banks and financial institutions in our country. This bail-out will be used to eliminate debt and provide an influx of cash that would help restore confidence in today’s financial system. Where’s the accountability that they promoted so vehemently for consumers?
This plan has been heavily supported and promoted by President Bush, Treasury Secretary Ron Paulson and anxious Wall Street investors who are scrambling like mad in order to prevent additional heavy losses created by defaults on the loans they provided
The same companies that provided or insured these loans are the same ones now seeking to be bailed out by the American taxpayer. The same companies that forced the bankruptcy bill down the throats of the American public are the ones that hope to be left unaccountable for their own actions and bad decisions. Clearly, if consumers are at fault for signing for loans that they could not afford, these banks need to be equally at fault for giving it to them. However, now they seek to be “bailed-out” while the consumer on the other end loses their home. Well, if that’s the case, they should lose their businesses.
Surely, to see this coming didn’t require the reincarnation of Nostradamus. The writing on the wall was as clear as Michelangelo’s “Creation” painting at the Sistine Chapel. The banks knew this was coming, but still made the loans.
However, they do not want to be subjected to the same humiliating bankruptcy process that they strongly advocated for their troubled customers. Smarter banks that did not provide these risky loans will now have to compete with other financial institutions that are subsidized by the federal government. Certainly, it would be tougher for their businesses to compete. Although their competitors have shown severe operational deficiencies and make questionable decisions, they are financed by taxpayer dollars that guarantee their existence. What’s American about that?
In the vast history of business in the United States, many companies have failed. It would be nearly impossible to determine exactly how many companies have gone out of business. When most companies fail to make smart business decisions, they end up in front of the bankruptcy judge; likewise for the consumers who cannot properly manage their finances. However, Federal Reserve Chair Ben Bernanke says these companies are simply “too large to fail”, so they aren’t subjected to the same process and procedures as the rest of us.
It is against the equal-protection provision of the U.S. Constitution to allow some companies to fail while the well-connected companies are given taxpayer dollars in order to forgive them for their mismanaged funds. Large companies fail all of the time. However, the solution is never to nationalize the companies. Usually, they are auctioned off to preserve the free-market system and the American way of doing business.
If these companies cannot manage their finances, they need to be subjected to the same procedures as they promoted for their consumers. What’s good for the goose is good for the gander.
Wednesday, October 15, 2008
Taxes, Militants and Cities on Fire
Government forces nationalization on the banks. However, Bush says that government's involvement would be "limited and temporary". Yeah right. How many times have we heard that about ANY government program. Anybody remember how long it took to get rid of the Spanish-American war tax???
Not all banks are thrilled about the prospect about competing with government subsidized financial institutions. The ones that have handled their businesses properly are even more pissed.
Poor people caused the crisis?
Israelis believe that occupying Jerusalem's Muslim sector and bringing a heavy influx of Jews will bring peace. Well, that's their story. However, according to Jesse Jackson, the Zionists influence on our country would be minimal under an Obama administration. WTF??!! Is the dude working for the McCain campaign?
Rush Limbaugh says blacks are taught at an early age to hate this country.
Radio talk-show host Bill Cunningham says that 100 cities will burn if Obama loses. He also says Flavor Flav, 50 Cent and Puff Daddy are in charge of the inaugural ball. Nothing racial there I guess.
Monday, October 13, 2008
Bananas, Welfare and Racial Politics
Vanity Fair's Chris Hutchins says that today's America resembles the world's Banana Republics more than the true Republic that our Founders envisioned. This is all due to today's "fake Republic", Republicans that are anything but conservative.
Rocker Ted Nugent details his plans if was ever elected President. For starters, he suggests deporting everybody on welfare. Hey Redneck Teddy, does this include the recipients of the $1 trillion Wall Street bailout?
Much has been said about the Republicans have been playing the race card by using code words and rebel-rousings crowds. Nah!! You don't say!! C'mon, the cries of "TREASON!", "KILL HIM!" "TRAITOR" and "sit down boy" that have permeated their rallies are just innocent sayings.
In our new quest to become a communist country, a new report says Paulson is debating taking official ownership of the banks. Nothing "Banana Republic" about that I guess. The Brits have done it. Oh I forgot. They are already socialists in Europe.
Dow jumps over 900 points!!!
Rocker Ted Nugent details his plans if was ever elected President. For starters, he suggests deporting everybody on welfare. Hey Redneck Teddy, does this include the recipients of the $1 trillion Wall Street bailout?
Much has been said about the Republicans have been playing the race card by using code words and rebel-rousings crowds. Nah!! You don't say!! C'mon, the cries of "TREASON!", "KILL HIM!" "TRAITOR" and "sit down boy" that have permeated their rallies are just innocent sayings.
In our new quest to become a communist country, a new report says Paulson is debating taking official ownership of the banks. Nothing "Banana Republic" about that I guess. The Brits have done it. Oh I forgot. They are already socialists in Europe.
Dow jumps over 900 points!!!
Thursday, October 9, 2008
Communism, Totalitarianism and Cool Rednecks
Gees, where should I start? This country is going backwards quickly. Our founders are rolling in their graves so fast, they have to think they're on a merry-go-round.
This whole "bail-out" thing is driving me crazy. The world's socialists are giddy because they believe that George W. Bush has joined their ranks. Wrong again!! He has become a communist, not a socialist. In communism, the government owns and controls everything. We don't have that here do we? In either case, we have some crazy stuff going on now-a-days.
AIG has already blown through the $87 billion of taxpayer money that was given to them by our federal government. Now, they are asking for an additional $38 billion. How many spa treatments can you get for that??? UPDATE: The feds just approved their request.
Some say that the bail-out isn't working because other companies are "holding out in hopes of getting a better deal from the Treasury than they can dream of from anywhere else".
This is just a follow-up on John McCain's bail-out remix. Estimates say it will cost around $300 billion. How's that complete spending freeze going Senator?
NATO troops in Afghanistan are upset because we are now asking them to actively engage Afghan drug lords. I guess they have a bit of a point since we were the ones that allowed these folks to operate, even with our protection.
Our government has been spying on its citizens. The spies at the NSA have been recording and getting a kick out of the pillow-talk between our soldiers and their loved ones.
BTW, North Korea is preparing to restart its nuclear activities.
Coolest rednecks I've ever seen. Maybe you can teach your bretheren a thing or two.
Depriving Americans of their ability to vote??? You don't say.
This whole "bail-out" thing is driving me crazy. The world's socialists are giddy because they believe that George W. Bush has joined their ranks. Wrong again!! He has become a communist, not a socialist. In communism, the government owns and controls everything. We don't have that here do we? In either case, we have some crazy stuff going on now-a-days.
AIG has already blown through the $87 billion of taxpayer money that was given to them by our federal government. Now, they are asking for an additional $38 billion. How many spa treatments can you get for that??? UPDATE: The feds just approved their request.
Some say that the bail-out isn't working because other companies are "holding out in hopes of getting a better deal from the Treasury than they can dream of from anywhere else".
This is just a follow-up on John McCain's bail-out remix. Estimates say it will cost around $300 billion. How's that complete spending freeze going Senator?
NATO troops in Afghanistan are upset because we are now asking them to actively engage Afghan drug lords. I guess they have a bit of a point since we were the ones that allowed these folks to operate, even with our protection.
Our government has been spying on its citizens. The spies at the NSA have been recording and getting a kick out of the pillow-talk between our soldiers and their loved ones.
BTW, North Korea is preparing to restart its nuclear activities.
Coolest rednecks I've ever seen. Maybe you can teach your bretheren a thing or two.
Depriving Americans of their ability to vote??? You don't say.
Tuesday, October 7, 2008
Debate Night, Financial Crisis and War Drums
The election is getting closer. The second Presidential debate is tonight. It could be the last time John McCain has to get the momentum back into his campaign. From the recent polls, it looks like it will an uphill fight.
Bringing up McCain's role in the Keating 5 scandal doesn't help his case at all. Neither does his past affiliations with groups like the Council of World Freedom.
Russia is sending nuclear warships to Venezuela for joint military exercises. I guess this isn't very important. Meanwhile, Iran forces down Western plane flying over its airpace. Of course the Pentagon denies.
More sad stories from the recent American financial crisis. Man in upscale neighborhood kills his family, then himself over financial difficulties and not being able to find a job.
CEO of Lehman Bros punched out at health club after testifying before Congress. Everybody isn't buying his bullshit.This administration continues to play cronyism with our government. As the former CEO of Goldman Sachs, Paulson now surrounds himself with all Goldman people to handle the bailout.
Speaking of the bailout; will we now need to bail-out our retirement and pension funds that have lost $2 trillion??
Barney Frank says the Republicans are using racial overtones while blaming the housing crisis on blacks and the poor. Yeah, like those churches, fitness centers and those with good credit getting screwed by bad deals don't count. Not to mention people like Ed McMahon and White House Press Secretary Dana Perino.
Negotiations continue between the U.S. and the Iraqis over our troop presence in their country. We're pushing for more bases. They are pushing to get us out of there. Why they have to "negotiate" foreign presence in their country is beyond me.
Virginians focus on race in the upcoming election. They say you can't be for an African-American "if you believe in the Bible". What????
Bringing up McCain's role in the Keating 5 scandal doesn't help his case at all. Neither does his past affiliations with groups like the Council of World Freedom.
Russia is sending nuclear warships to Venezuela for joint military exercises. I guess this isn't very important. Meanwhile, Iran forces down Western plane flying over its airpace. Of course the Pentagon denies.
More sad stories from the recent American financial crisis. Man in upscale neighborhood kills his family, then himself over financial difficulties and not being able to find a job.
CEO of Lehman Bros punched out at health club after testifying before Congress. Everybody isn't buying his bullshit.This administration continues to play cronyism with our government. As the former CEO of Goldman Sachs, Paulson now surrounds himself with all Goldman people to handle the bailout.
Speaking of the bailout; will we now need to bail-out our retirement and pension funds that have lost $2 trillion??
Barney Frank says the Republicans are using racial overtones while blaming the housing crisis on blacks and the poor. Yeah, like those churches, fitness centers and those with good credit getting screwed by bad deals don't count. Not to mention people like Ed McMahon and White House Press Secretary Dana Perino.
Negotiations continue between the U.S. and the Iraqis over our troop presence in their country. We're pushing for more bases. They are pushing to get us out of there. Why they have to "negotiate" foreign presence in their country is beyond me.
Virginians focus on race in the upcoming election. They say you can't be for an African-American "if you believe in the Bible". What????
Monday, October 6, 2008
Monday's Musings
All-white jury convicts O.J. Simpson on all charges. O.J. should have known better. You know those guys were dying to convict him. They even said they didn't need any witnesses to the crime. They would've convicted him anyway.
Given her answers to various questions, P. Diddy is scared of Sarah Palin and the possibility of someone with her I.Q. being next in line to be President. Given the fact that McCain is almost 80 years old and has already had about 4 bouts with cancer, it freaks me out too!!
Not news: Ultra conservative dress code enforcers in the middle east create situations where there's violence against women. News: It's happening in Israel.
Given her answers to various questions, P. Diddy is scared of Sarah Palin and the possibility of someone with her I.Q. being next in line to be President. Given the fact that McCain is almost 80 years old and has already had about 4 bouts with cancer, it freaks me out too!!
Not news: Ultra conservative dress code enforcers in the middle east create situations where there's violence against women. News: It's happening in Israel.
Mumia Abu-Jamal is denied a new trial by the U.S. Supreme Court.
Lehman Brothers executives took home millions in compensation even while they sought a federal bail-out.
Obama goes after McCain over his involvement in the Keating 5 SNL scandel.
Thursday, October 2, 2008
Today's Tidbits
Senate approves of the bail-out measure. It looks like it will be greater than the original $700 billion dollar plan. Great.
After our great success giving our defense technology to the Chinese, we are now giving India access to our nuclear secrets. I'm sure that's going to work out just nicely.
John McCain is getting out of Michigan now that it appears as if he has no shot in winning that state. According to the polls, he's sinking pretty quickly across the entire country. Sarah Palin not doing much better now-a-days. Couldn't have anything to do with her interview with Katie Couric?
National debt becoming so large that it soon would not be able to fit on the screen in NYC that tracks it. Sad and disappointing that nobody in our government cares. They are very willing to make our kids pay for their mismanagement of taxpayer funds.
China spying on its citizens' text messages. How long before this comes to the United States? Uh oh. The Patriot Act......I forgot.
After our great success giving our defense technology to the Chinese, we are now giving India access to our nuclear secrets. I'm sure that's going to work out just nicely.
John McCain is getting out of Michigan now that it appears as if he has no shot in winning that state. According to the polls, he's sinking pretty quickly across the entire country. Sarah Palin not doing much better now-a-days. Couldn't have anything to do with her interview with Katie Couric?
National debt becoming so large that it soon would not be able to fit on the screen in NYC that tracks it. Sad and disappointing that nobody in our government cares. They are very willing to make our kids pay for their mismanagement of taxpayer funds.
China spying on its citizens' text messages. How long before this comes to the United States? Uh oh. The Patriot Act......I forgot.
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