Friday, April 10, 2009

Class Today at NoBullU on WEBY

I'm back after a four week absence.

Listen to the voice of wisdom and reason in a wilderness of partisan rhetoric -- No political insanity, no conservative hypocrisy, no liberal foolishness -- Just straight talk, straight at you, and that’s no bull!!

NoBullU will broadcast today from 4:05 to 6 p.m. at 1330 AM WEBY and on line, courtesy of Cyber Smart Computers.

Topics:

Local and state: TBD, and

Nation and international: TBD.

But I'll discuss anything. (Disclaimer: the host reserves the right to end any discussion and hang up on you.)

So tune-in, call-in, but only if you can handle the truth!

WARNING: You may not want to call in if you have veritasphobia, especially if you are a certain veritasphobic politician.

Thursday, April 9, 2009

A Couple of Good Obama-toons

Obama should lose the teleprompter crutch:



BTW, the Obama teleprompter has a blog.


And here is another great editorial cartoon:

The Republi-Con Fear, Anger, and Hatred Machine

For an interesting perspective on the right-wing media, read the Washington Post, The News From Planet Hannity.

With due respect to FDR, the only thing we have to fear is (Republi-con) fear, anger, and hatred.

Friday, April 3, 2009

No Class Today at NoBullU on WEBY

Usually on Fridays you can listen to me, the voice of wisdom and reason in a wilderness of partisan rhetoric -- no political insanity, no conservative hypocrisy, no liberal foolishness -- just straight talk, straight at you, and that’s no bull!!

But I can't make it today so Ken or Mike will substitute. Until the next show, post a comment or two.

Thursday, April 2, 2009

Bailout Scorecard

How much money has been allocated and spent, for what and and when? See CNN Money, Economy rescue: Adding up the dollars to keep score.

Tuesday, March 31, 2009

Republi-Con Fear Mongering

UPDATE: More on the old and unimproved right-wing fear-mongering media strategy for Obama. Read The New York Times, Fox News’s Mad, Apocalyptic, Tearful Rising Star.

And remember . . .


Be afraid, be very, very afraid, while the robber investment banks and financial institutions loot the treasury and buy FoxNews ads:





The purpose of terrorism is to terrify the target public.

Thanks to the Republi-cons and FoxNews, OBL has won.

How Do You Feel About the Economy?

The New York Times wants to know. You can enter the word that best describes your current mood.

I said I was disgusted.

Why, although you are not asked to explain your feeling, I'm disgusted because the banks (and other financial institutions) are robbing our future.

What did you say? And why?

What is Your Congressman's ROR?

UPDATE III: An update from my initial post in February. Congressman with ties to the PMA Group, AKA Murtha Men, may want to start worrying. The lobbying firm, one of the 10 biggest in Washington, and started by Paul Magliocchetti, a protégé of Representative John Murtha, is closing after prosecutors raided Magliocchetti's office and home last week. See The New York Times, Star Lobbyist Closes Shop Amid F.B.I. Inquiry.

UPDATE II: See The Seattle Times, The Favor Factory 2008, for a database of lawmakers, earmarks, and campaign giving.

It seems that our local Congressman's overall ROR was only 9,050% over five years. In 2008, Miller's total defense earmarks were $7,400,000 and his 2003-08 campaign contributions from earmark recipients was $81,750. However, his PMA ROR remains unchanged.

Is your Congressman a Murtha Man?

Read Congressional Quarterly, Firm with Murtha Ties Got Earmarks From Nearly One-Fourth of House.

Or read The New York Times, 104 Will Get You $300 Million:

"A lobbying powerhouse recently raided by federal agents has hurriedly gone out of business, but not before leaving a detailed blueprint of how the political money churn works in Congress. It was already clear that the PMA Group had heavy clout through Representative John Murtha and his powerful clique of defense appropriators. They, in turn, netted hefty campaign donations from PMA’s grateful roster of defense contractors.


But now, just as the firm implodes in the face of a growing scandal, new Congressional disclosure regulations are revealing the breathtaking breadth of PMA’s influence. The lobbying group — a revolving-door boîte created and run by staff alumni of the Murtha appropriations team — scored a singular coup last year. It convinced 104 different House members to add separate earmarks into the defense appropriations bill worth $300 million to PMA Group clients.


These same lawmakers who looked out for the PMA Group have received $1.8 million in campaign donations from the lobbying firm since 2001, according to an analysis of new disclosure filings by Congressional Quarterly and Taxpayers for Common Sense, a watchdog group.


Quid pro quo is the hardest of Congressional crimes to prove. But the new disclosure requirements — created by Democrats after the Republicans’ Jack Abramoff scandal — reveal the shameless back-scratching of lobbyist and lawmaker, tracking the flow of taxpayers’ funds to contractors and back as booty to lawmakers.


The raid on the PMA Group was part of an investigation into possible illicit campaign donations. Fast as PMA quit town, members of Congress have begun donating the lobbyists’ money to charity. Investigators should show the same diligence and enthusiasm following the full PMA money trail."

Then check to see if your congressman is on the list at Congressional Quarterly, Lobbying Firm's Capitol Hill Connections.

Our local Congressman, Jeff Miller, was one of the 104. He secured $3,800,000 in earmarks for clients of The PMA Group in the fiscal 2008 defense appropriations law, which was enacted in 2007. He has received $7,000 from PMA Group's political action committee or its employees since 2001. That is a rate of return (ROR) of over 54,285% over 6 years. Not bad for PMA.

(The actual ROR is probably much higher because there were likely earmarks made in other years. But why quibble whether it was a ROR of 54,000% or 55,000% or more, it is an great ROR for PMA in any case.)

But makes ya wonder why Congressman are so cheap.

UPDATE: It appears that my Senator, Bill Nelson, sold out to the Stanforn Financial Group for $45,000. As The New York Times reported "the Securities and Exchange Commission accused Robert Allen Stanford, the firm’s chief, of conducting 'a massive ongoing fraud' in the sale of about $8 billion of high-yielding certificates of deposit held in the firm’s bank in Antigua."

Is there no shame in Congress.

Friday, March 27, 2009

An Outrage to Liberty and Freedom

UPDATE: Thanks to those who took time to express their concern and outrage. As a result, Missouri scraped MIAC report.

Chuck Baldwin is the pastor of Crossroad Baptist Church in Pensacola, Florida, and was the presidential nominee of the Constitution Party for the 2008 U.S. Presidential election.

Baldwin alleges that there is a a secret Missouri state police report that categorized supporters of Congressman Ron Paul, Bob Barr, and himself as "'militia' influenced terrorists" and that the report "instructs the Missouri police to be on the lookout for supporters displaying bumper stickers and other paraphernalia associated with the Constitutional, Campaign for Liberty, and Libertarian parties."

See his letter.

If this is true, it would be an outrage to liberty and freedom and someone should be fired and prosecuted.

Write Missouri Governor Jay Nixon and demand an explanation.

No Class Today at NoBullU on WEBY

Usually on Fridays you can listen to me, the voice of wisdom and reason in a wilderness of partisan rhetoric -- no political insanity, no conservative hypocrisy, no liberal foolishness -- just straight talk, straight at you, and that’s no bull!!

But I can't make it today so Ken or Mike will substitute. Until the next show, post a comment or two.

Friday, March 20, 2009

No Class Today at NoBullU on WEBY

Usually on Fridays you can listen to me, the voice of wisdom and reason in a wilderness of partisan rhetoric -- no political insanity, no conservative hypocrisy, no liberal foolishness -- just straight talk, straight at you, and that’s no bull!!

But I can't make it today so Ken or Mike will substitute. Until the next show, post a comment or two.

Thursday, March 19, 2009

Have the Foobs Finally Had Enough

UPDATE III: Still not fed-up with the Washington politician-New York banker cartel. Then read The Associated Press, 13 firms receiving federal bailout owe back taxes and the Washington Post, House GOP Report Details Countrywide's Efforts to Benefit VIPs.

The bonuses at AIG are just the tip of the iceberg. As The Deal Professor writes:

"Washington is filled with outrage over the $165 million in bonuses given out by the American International Group. Yet, as I said in my post on Tuesday, “Seven Sad Truths About A.I.G.,” the real concern over the insurance giant should be about the $170 billion in government bailout money it received and and A.I.G.’s subsequent payments of tens of billions to a myriad of banks.

All of this appears to have been done without any attempt to bargain or otherwise obtain government recompense from these third-party banks. Congress should hold hearings to find out why this was done and if it was appropriate, instead of concentrating on the more minor compensation issue."

Clearly there are two sets of rules and regulations in life: those that apply to the Washington politician-New York banker cartel and those that apply to the rest of us.

Is it time to renew Operation Siege?


UPDATE II: FINALLY, after nearly six months of criticizing the bailout of AIG and other insolvent investment banks and non-depository financial institutions, people are starting to realize it was and is a con job, flim flam, gaffle, grift, hustle, scam, scheme, or swindle. Claim the world will collapse unless _____ (fill in the blank), and the purpose: save the big-wigs. Former Treasury Secretary Henery Paulson had become fabulously wealth working at Goldman Sachs.

Read the Washington Post, Wall Street's Dangerous Refusal to Learn and The New York Times, A.I.G. Bailout Priorities Are in Critics’ Cross Hair.

I SAY AGAIN: the AIG bailouts were an attempt to try and save well-connected investment banks, like Goldman Sacks. The AIG bailout never made sense, except if you understood that the money was meant to save Goldman Sachs. Since early on it has been clear that payments to AIG were just a cover to get money to Goldman Sachs. And when the original terms of the bailout proved too onerous, the terms were waived for another sweetheart deal.

Read The Big Picture, Backdoor Bailouts for Goldman Sachs? Also read The New York Times, A.I.G., Where Taxpayers’ Dollars Go to Die.


UPDATE: For months I've said, let the insolvent non-depository banks and other financial institutions fail. Others are beginning to realize that it would be the better solution. Read Time, The Case for Letting AIG Fail.

You also might want to reread my proposed solution to the economic mess.


Since September I've said that the AIG bailouts were an attempt to try and save well-connected investment banks, like Goldman Sacks, the former firm of former Treasury Secretary Paulson. The AIG bailout never made sense, except if you understood that the money was meant to save Goldman Sachs. Since early on it has been clear that payments to AIG were just a cover to get money to Goldman Sachs. And when the original terms of the bailout proved too onerous, the terms were waived for another sweetheart deal.

Others finally began to realize the same. Read The Big Picture, Backdoor Bailouts for Goldman Sachs? Also read The New York Times, A.I.G., Where Taxpayers’ Dollars Go to Die.

Well, the list of AIG payees was final released, and to date Goldman Sachs has received $12.9 billion, nearly twice as much any other American financial company.

The practice of engaging in financial transactions to conceal the identity, source, or destination of money is a crime called money laundering. But instead of investigations and criminal prosecutions, there will be more bonuses.

That's right, AIG laundered the money, so now it is time to split the AIG take on the deal, $165 million in bonuses.

Where is the outrage! Are taxpayer really such foobs?

Or have they had enough? Is it time again for Operation Siege?

Let me know.

Wednesday, March 18, 2009

Sponsor an Executive

REPOST: First posted on January 1, 2009:

A good parody:





BTW, $3,700/day equals $1,350,500/year. If you are interested, you can sponsor me.

Monday, March 16, 2009

Another Smackdown of Right-Wing Media

UPDATE II: The Smackdown, Part I:



Smackdown, Part II, listen closely as Cramer admits to engaging in fraud as a hedge fund operator:



Smackdown, Part III:




The Justice Department and SEC should subpoena Cramer to testify before a grand jury.



Last week, Jon Stewart outed the media incompetence and hypocrisy.

NBC should have let it lie, but White & Bitter Joe and other pendejo Peacocks gave Stewart reason to do more turd mining. Watch the video and you'll know what I mean:




The media's role in the economic mess reminds me of the media's role in the run-up to the Iraq war. It further illustrates the right-wing media/Republi-con quid pro quo: Right-wing media gives dishonest media coverage and enables and promotes the interest of Republi-cons and, in exchange, wealth corporate interest buy ads on right-wing media. A perfect arrangement to defraud the public.

The Naive-crats should hire this guy to run their PR.

UPDATE: It appears the smackdown will continue tonight, or maybe Stewart and Cramer will kiss and make-up. Guess we'll have to tune-in and see. Until then, here is a compilation of the Daily Show and Colbert's Best Jim Cramer Moments.

Friday, March 13, 2009

Show Link(s)

As discussed on today's program:

WRAL, Wake judge orders home schoolers into public classrooms.

Is Congressman Miller Veritasphobic?

C.H. recommended: Wall Builders (I hope this is the web site to which he referred. If not, let me know.)

Adam recommended: Meet the Truth.


Meet Mallory.


Class Today at NoBullU on WEBY

Listen to the voice of wisdom and reason in a wilderness of partisan rhetoric -- No political insanity, no conservative hypocrisy, no liberal foolishness -- Just straight talk, straight at you, and that’s no bull!!

It will be the paraskavedekatriaphobic edition of NoBullU today from 4:05 to 6 p.m. at 1330 AM WEBY and on line, courtesy of Cyber Smart Computers.

Topics:

Local and state: why is our local representative, Congressman Miller afraid of the to be a guest on WEBY, is it because he has veritasphobia, and

Nation and international: the suspension of Operation Siege.

But I'll discuss anything. (Disclaimer: the host reserves the right to end any discussion and hang up on you.)

So tune-in, call-in, but only if you can handle the truth!

WARNING: You may not want to call in if you have veritasphobia, especially if you are a certain veritasphobic politician.

Thursday, March 12, 2009

Is Congressman Miller Veritasphobic?

It seems that a certain local congressman's office called to complain about me and/or the Thursday host on WEBY.

Why? Read these blog posts:

What is Your Congressman's ROR?

Local Republi-Con Fiscal Conservative Hypocrisy

Republi-Con Strategy, Just Say No

A politician can distinguish himself in Washington by seniority or merit.

Like most, our Congressman Jeff Miller, who has veritasphobia, is a fine example of the former.

God help us all.


P.S. What's a stupid politician? A tautology.

How about a little more Congressional humor:

"How much do you think Senators make? They now make $154,700 a year. But they say it will stimulate the economy because eventually that money will trickle down to the liquor stores, the hookers, the brothels ... then it will get back in the community." —Jay Leno, on Congress voting itself a pay raise

There is no distinctly American criminal class - except Congress. —Mark Twain

Reader, suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself. —Mark Twain

The taxpayers are sending congressmen on expensive trips abroad. It might be worth it except they keep coming back! —Will Rogers

This country has come to feel the same when Congress is in session as when the baby gets hold of a hammer. —Will Rogers

The trouble with practical jokes is that very often they get elected [to Congress]. —Will Rogers

The only difference between death and taxes is that death doesn't get worse every time Congress meets. —Will Rogers

With Congress, every time they make a joke it's a law, and every time they make a law it's a joke. —Will Rogers

Tell me your favorite Congressional joke.

Operation Siege Suspended

Operation Siege is suspended until further notice because of public apathy.

Sad to say, but the looting of the treasury and the robbery of our future by investment banks and other financial institutions will continue until there is adequate public outrage.

Let me know when you have had enough of the looting.

The Fed Enabled a Ponzi Scheme

It has been a year since the collapse of Bear Stearns, which was the beginning of the deleveraging.

Listen to NPR, Book Reveals Bear Stearns' 'House Of Cards.'

In short, for twenty years Bear Stearns and other financial banks became fabulously wealth using billions of dollars in fed money borrowed overnight for very low rates and using that borrowed money to buy risky notes, such as subprime mortgages. The profit was in the spread, that is, the difference between the cost to borrow the money and the return on the risky investments. And the riskier the investiment, the higher the profit.

It was a Ponzi scheme in that new money instead of profit was always needed to payoff older promises because the profit was used to finance lavish salaries and bonuses. It worked fine so long as new loans were available, but it depended on refinancing billions of dollars everyday.

But, like a house of cards, it wasn't structurally sound.

In short, our government, through the Fed, enabled a Ponzi scheme and is now using the U.S. Treasury to prop up the scheme.

And companies know that the government will bail them out. Read, The New York Times, The Looting of America’s Coffers, which states:

"Sixteen years ago, two economists published a research paper with a delightfully simple title: 'Looting.'

The economists were George Akerlof, who would later win a Nobel Prize, and Paul Romer, the renowned expert on economic growth. In the paper, they argued that several financial crises in the 1980s, like the Texas real estate bust, had been the result of private investors taking advantage of the government. The investors had borrowed huge amounts of money, made big profits when times were good and then left the government holding the bag for their eventual (and predictable) losses.

In a word, the investors looted. Someone trying to make an honest profit, Professors Akerlof and Romer said, would have operated in a completely different manner. The investors displayed a "total disregard for even the most basic principles of lending," failing to verify standard information about their borrowers or, in some cases, even to ask for that information.

The investors "acted as if future losses were somebody else’s problem," the economists wrote. 'They were right.""


The full title of the research paper is Looting: The Economic Underworld of Bankruptcy for Profit.

Where is the outrage! Are taxpayer really such foobs?

Oh, sorry, you are worried about the earmark bogeyman created by the Republi-cons to distract you from the cause of the economic mess.

Why do I pay my taxes?

UPDATE: Read The New York Times, A Tsunami of Excuses, for more proof that greed caused the economic mess.

A Thousand Words

A picture is worth a thousand words is a saying/cliche that refers to the idea that complex stories can be described with just a single still image. And that is just what these images do:





Those are mostly Republi-cons at the trough.

This, of course, describes the bailouts to date:



But I like this one best:



If you missed it, the anvil symbolizes the screw job the taxpayers are getting while the Wall Street big-wigs continue to reap their unjust rewards.