Sunday, September 28, 2008

Debate/Bailout update . .

I thought Obama should have attacked more often and more specifically, driving the point home when he had an advantage/opportunity (he missed several), but I agree that he won a slight victory overall. McCain just looked old and unwilling to consider new ideas.

I'm still pissed about the bailout, seems when I was getting my MBA we discussed something called risk assessment, and how to fail at this meant potentially terrible consequences to the business. Now we are (sort of) giving them a get out of jail free (too easy, at least), and taking responsibility for their most worthless debts from the risk takers to the American taxpayer. I guess a totally 'free' market isn't the perfect model after all, and the hardcore deregulators (including McCain/Gramm) were wrong and deserve a share of responsibility for this mess, as do some individuals who took loans they knew they could not repay counting on ever-rising real estate prices.

Wednesday, September 24, 2008

McCain's timeout . . a cry for help!

What the hell happened to the man we knew in 2000? This is his idea of leadership, 'suspending' his campaign to 'lead' on the bailout legislation? He's not even on the committees working the issue, he has told us himself he doesn't know much about economics, and his waffling for the last week has proven that beyond a reasonable doubt. And when he gets there, does he support the unconstitutional crap sent over by Dubya & Co, or does he try to look bipartisan by embracing the Dems change requests (demands I hope)? Or does he do something else stupid to draw attention to himself?

His so-called economic guru-in-chief Phil Gramm is responsible for much of this debacle, and McCain aided and abetted him in the deregulation and defanging of what regs were left. How exactly are they going to help here, or is it their corporate backers who want them there to help screw us over again?

Tuesday, September 23, 2008

Bailout keys: "Trust but Verify" article

"Trust but Verify" from The Nation is a great article on what we can do to keep Congressional control over this bailout, and how we can make it as fair and transparent as possible.

Bailout Rant: Paulson puts the Jerk in kneejerk

Paulson, as Dubya’s surrogate, has really put the Jerk in ‘kneejerk’ this week with his all-out assault to ram this ‘bailout’ down our throats without sufficient Congressional oversight. Now, now, now, is his mantra (reminiscent of drill, drill, drill, yes?), as if to take time to actually think will be a dangerous delay. In addition to ‘now’, he also wants complete unfettered control of the monies and freedom to act as he pleases to accomplish the bailout, with the same experts whose championship of deregulation got us into this mess to begin with. Off with their heads I say! . . or would if I was king for a day, as Paulson wants to be King of the Economy (I.e. Robberbarron-in-chief).

We can maintain liquidity in the markets without swallowing up to $1 TRILLION in bad debt (much of it unsecured ‘mortgage derivative’ securities), and we can do it without shredding the Constitution and empowering the same idgits (Southern for idiots) who were proponents of these securities and chipped away at regulation until we had a total meltdown of the greed pyramid. Congress needs to be in charge here, if they want WTP to buy up their greed-based bad debt then WTP want to see to whom the checks are written and what we receive for the money. Watching their testimony, I see a man who knows that the faster they can get us to swallow this poison pill the better chance they have of setting it up to profit themselves and their friends.

Behind these men no doubt is the Bush Administration and all their shenanigans, the power-seeking language in their proposal definitely smells like Cheney to me. More power accrued to the Executive Branch is their goal, which they disguise (poorly) by setting the Sec. Treasury up as the Bailout King. Paulson is leaving, so they can put a new ‘loyal Bushie’ in as SecTreas and keep control over $1 trillion and the financial markets right? So even if McCain loses, they can oppose Obama with massive leverage in a position which is not subject to the new President, enough to defeat/degrade any new ideas so as to render him a lame duck from day one.

I hope Congress sees through this attempt at rushing, yet again (Patriot Act déjà vu), an important piece of legislation past us without a chance to carefully inspect the turd we see flying past our eyes. Please represent the American people, and defend our taxpayers from this attempt at hijacking our economy with socialism for the rich - but more foreclosures for the rest of Americans.

I heard some tough questions from members of Congress, and echoes of my own concerns, but can we count on them to go to bat (fall on their sword if necessary) to stop this rush to burden the taxpayers with the results of greed and mistakes by the very same folks who want to ‘manage’ the bailout money. I truly hope so, but only time will tell.

No transfer of power to the Treasury or SEC!

Paulson is lying his ass off to Congress to get this ripoff bailout passed before it can be scrutinized carefully, no way can we give the SecTreas or SEC chair this much power apart from Congress! Especially when they are only helping the rich and passing their greedy mistakes on to we the taxpayer! Have you read "Shock Doctrine" by Naomi Klein? Its's being played out in front of our eyes!!

Monday, September 22, 2008

Palin a 'dealbreaker'

No matter what party you normally vote for, Sarah Palin is a dealbreaker. No experience, poor education, no curiosity, no misgivings about accepting, and rightwing idealogue core beliefs (no abortion even for rape/incest, as mayor making women sexual assault victims pay for their own rape kits, etc) make her a NO-GO!

She cannot be allowed to be one heartbeat from the Presidency with a POTUS candidate who is a 72 yo four-time cancer survivor, her presence on the ticket is a deal-breaker.

Bailout language scary . . (smells like Cheney)

Check this out:

"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."

Can you say FREE PASS? We cannot let this pass/stand!!

Slow the hurry . . .

The Administration is trying to ram this bailout through like the Patriot Act, when it really needs major debate and discussion. There must be bi-partisan oversight independent of whatever current Administration is in office, but Bush is trying to make it a right now thing in order to get it done with as little govt control as possible (the last thing America needs). THESE GUYS CAUSED THE PROBLEM!!! How can we trust them to 'fix' this and not screw it up like everything else they've touched, or rig it so their buddies (now in trouble) make a killing in the long run. Have anyone read "Shock Doctrine" about Bush's disaster economics? Can we say "sequel", Naomi?

Do you know what you know?

This is a great article on how folks resist info which contradicts their positions, many folks avoid talking/thinking about this but I seek it out so as to broaden my understanding of issues.

Sunday, September 21, 2008

Scare tactics . . .

Between the 911 "tribute" at the RNC and the latest 'terror' DVD going out in newspapers around the nation, the Repubs are trying to scare you into voting for McCain. Don't let them succeed, learn the truth about fighting terrorism.

Read this:

Give me liberty or give me death!!

Palin scares me . . .

I still cannot believe McCain actually picked this unqualified, ill-prepared, right-wing idealogue as his VP candidate. My almost elderly parents are longtime Republicans (as I was), and when they heard I saw disgust on their faces. They don't want to vote for Obama, mostly due to his inexperience, and I can understand that. But they see the ridiculousness of selecting Palin for VP, she is ill-educated, unexperienced with anything of a larger concern than Alaska, and therefor ignorant of national and international issues and their many implications. That ignores her extreme views on abortion, which Mom can't agree with (what sane person can? no abortion even for rape and incest victims? are you serious?), and the belief that the Iraq war is a task from God.

Shame on you John McCain, a man I used to respect. No more.

Bailout greed

I know we need to act quickly to 'bail out' Wall Street, but not without ensuring govt control/regulation that will prevent this from ever happening again. It's not mortgages the govt is buying, most of the debt is derivative instruments whose value is ZERO. These companies played for big money and fucked themselves up with their own greed, now we're supposed to leave them all profitable debt and take all the crap off of their hands. Sounds like someone telling me BOHICA: bend over, here it comes again!

We may have to do some of this, but not without CONTROL over these greedy bastards.

Read this:

First Post

I'm just getting started here folks, I've finally gotten tired of talking to the television (more like yelling, mostly) and decided to try the blog thing. I guess I'll start by saying that while I respect everyone's right to their own opinion, when I hear bullshit I will call it, be it governmental, corporate, religious, whatever it's source, bullshit is bullshit.

Long ago I heard college degree's described thusly, with BS being 'bullshit', MS being 'more shit', and PhD being 'piled higher and deeper'. I respect education but I'm suspicious of anyone who claims to (or acts like they) know everything, a real education would have taught them how much there is to know and how little of it one individual can really grasp and remember.

All I ask of folks is to tell me the truth, and know the difference between truth and your opinion.