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Monday, October 13, 2008
Profile of a Republi-con Operative
Interesting read about another one of Sheeeepish Haaannity's 'Great Americans.'
Too Early to Be Countin the Chickens
Some are now talking of an Obama landslide, with "larger Democratic majorities in both the House of Representatives and the Senate — and perhaps a filibuster-proof margin there."
As the old saying goes, there is a risk counting your chickens before the eggs hatch, but perhaps not in this election, given the state of affairs in the McCain campaign (see below).
As the old saying goes, there is a risk counting your chickens before the eggs hatch, but perhaps not in this election, given the state of affairs in the McCain campaign (see below).
Fear, Anger, and Hatred
Without fear, anger and hatred, where would the Republi-cons be.
At a rally in Lakeville, Minnesota McCain found himself struggling to control the fear, anger and hatred some of his rabid supports have been promoting. His running mate Sarah Palin stepped up her own attacks against Obama, often inspiring outbursts complete with cries of "terrorist" and "off with his head." Even an older woman said that that Obama could not be trusted because he is an 'Arab.'
In Northwest Florida, one of the finer members (presumably) of the Republi-con party, "decided to illustrate [to his seventh grade civils class] the concept of 'change' by writing 'Come Help A N----r Get Elected' on the white board in front of his class.
Then there are the officially sanctioned comparisons to OBL.
I'm sure Sheeepish Haaannity considers them all 'Great American.'
But consider what John Lewis said this weekend:
It is true, we can do better. Thankfully, even McCain finds the attacks over the top. McCain responded to the lady in Lakeville, saying "No, ma'am, he's a decent family man, a citizen, who I just happen to have disagreements with on fundamental issues. And that's what this campaign is all about."
But the Republi-cons don't think that is the way to win an election, so it will fear, anger, and hatred, from now until the election. McCain won't win many independents with that strategy.
At a rally in Lakeville, Minnesota McCain found himself struggling to control the fear, anger and hatred some of his rabid supports have been promoting. His running mate Sarah Palin stepped up her own attacks against Obama, often inspiring outbursts complete with cries of "terrorist" and "off with his head." Even an older woman said that that Obama could not be trusted because he is an 'Arab.'
In Northwest Florida, one of the finer members (presumably) of the Republi-con party, "decided to illustrate [to his seventh grade civils class] the concept of 'change' by writing 'Come Help A N----r Get Elected' on the white board in front of his class.
Then there are the officially sanctioned comparisons to OBL.
I'm sure Sheeepish Haaannity considers them all 'Great American.'
But consider what John Lewis said this weekend:
"As one who was a victim of violence and hate during the height of the Civil Rights Movement, I am deeply disturbed by the negative tone of the McCain-Palin campaign. What I am seeing today reminds me too much of another destructive period in American history. Sen. McCain and Gov. Palin are sowing the seeds of hatred and division, and there is no need for this hostility in our political discourse.
During another period, in the not too distant past, there was a governor of the state of Alabama named George Wallace who also became a presidential candidate. George Wallace never threw a bomb. He never fired a gun, but he created the climate and the conditions that encouraged vicious attacks against innocent Americans who only desired to exercise their constitutional rights. Because of this atmosphere of hate, four little girls were killed one Sunday morning when a church was bombed in Birmingham, Alabama.
As public figures with the power to influence and persuade, Sen. McCain and Governor Palin are playing with fire, and if they are not careful, that fire will consume us all. They are playing a very dangerous game that disregards the value of the political process and cheapens our entire democracy. We can do better. The American people deserve better."
It is true, we can do better. Thankfully, even McCain finds the attacks over the top. McCain responded to the lady in Lakeville, saying "No, ma'am, he's a decent family man, a citizen, who I just happen to have disagreements with on fundamental issues. And that's what this campaign is all about."
But the Republi-cons don't think that is the way to win an election, so it will fear, anger, and hatred, from now until the election. McCain won't win many independents with that strategy.
Republi-con Lies
So many lies, so little time to respond:
Without the lies, the American public would see the Republi-cons for what they are, largely responsible for the current economic mess. Without the lies, the Republi-cons would be swamped in this election.
Don't listen to the Republi-con lies!
- McClatchy Newspapers, Private sector loans, not Fannie or Freddie, triggered crisis, which states in part:
"Commentators say that's what triggered the stock market meltdown and the freeze on credit. They've specifically targeted the mortgage finance giants Fannie Mae and Freddie Mac, which the federal government seized on Sept. 6, contending that lending to poor and minority Americans caused Fannie's and Freddie's financial problems.
-
Federal housing data reveal that the charges aren't true, and that the private sector, not the government or government-backed companies, was behind the soaring subprime lending at the core of the crisis.
Subprime lending offered high-cost loans to the weakest borrowers during the housing boom that lasted from 2001 to 2007. Subprime lending was at its height from 2004 to 2006.
Federal Reserve Board data show that:
- More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions.
- Private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year.
- Only one of the top 25 subprime lenders in 2006 was directly subject to the housing law that's being lambasted by conservative critics.
The "turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007," the President's Working Group on Financial Markets reported Friday.
-
Conservative critics claim that the Clinton administration pushed Fannie Mae and Freddie Mac to make home ownership more available to riskier borrowers with little concern for their ability to pay the mortgages.
- "I don't remember a clarion call that said Fannie and Freddie are a disaster. Loaning to minorities and risky folks is a disaster," said Neil Cavuto of Fox News."
- ACORN Press Release, ACORN Response to Senator McCain’s Smear Ad
"ACORN President Maude Hurd released the following statement today in response to the McCain campaign’s new ad claiming that, among other things, ACORN is responsible for the mortgage crisis:
”For almost a decade, ACORN, a community organization of 400,000 families in neighborhoods across the country, has been fighting against the predatory lending practices that have robbed our members of their homes, destabilized neighborhoods, and roiled the global economy.”
“In his newest ad, John McCain’s campaign bizarrely claims, “ACORN forced banks to issue risky home loans, the same types of loans that caused the financial crisis we’re in today.” Nothing could be further from the truth. In fact, ACORN has worked successfully to help working class families get good home loans on fair terms from legitimate banks and has fought vigorously against predatory lenders who have ripped off families in our communities. These predatory loans caused the crisis.”
“For more than a decade, ACORN members have held protests, released reports, and advocated for regulations to protect homeowners from predatory lenders. ACORN organizers and volunteers have been working day and night to help victims of the GOP economic meltdown to save their
homes from foreclosure. In fact, ACORN has brought class action lawsuits against several predatory lenders, and has lobbied the Federal Reserve and Congress in support of regulations against predatory lending. ACORN has even been successful in convincing many lenders to treat homeowners more fairly and help families be able to make their mortgage payments and save their homes.”
“Unfortunately, the Bush administration and Congressional Republicans like John McCain have blocked the sensible regulations that ACORN and others proposed that would have averted the mortgage meltdown. If John McCain thinks that community organizers caused the foreclosure crisis, he knows even less about the economy than previously thought.”
”John McCain and the Republicans are desperately trying to shift the blame for the economic crisis they caused with a philosophy of deregulation and indifference to homeowners. All the grainy footage and creepy music in the world can’t cancel out some simple, basic facts, and the facts about the economy are not on John McCain’s side.”"
Without the lies, the American public would see the Republi-cons for what they are, largely responsible for the current economic mess. Without the lies, the Republi-cons would be swamped in this election.
Don't listen to the Republi-con lies!
Sunday, October 12, 2008
Sounds Like Something Palin and Her Husband Might Do
Someone should be fired. Read New York Times, Citizen Terrorists Deleted, which highlights the abuse of power in the so-called 'war on terror.'
If you think OBL wants to take away our freedom and liberties, he's getting us doing the job for him.
If you think OBL wants to take away our freedom and liberties, he's getting us doing the job for him.
More on the Economic Mess
Another great article, New York Times, Taking Hard New Look at a Greenspan Legacy, which examines the 'legacy' Federal Reserve Chairman Alan Greenspan.
Five years ago, Warren E. Buffett warned that derivatives, complex financial instruments designed to hedge against risk, were "financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal." George Soros avoids using derivatives "because we don’t really understand how they work." And Felix G. Rohatyn described derivatives as potential "hydrogen bombs." It turns out that derivatives are the crux of the current economic mess, and and Greenspan supported and promoted their use.
The article includes a great graphic, Growth of a Complex Market,which shows the growth of the derivative market from $106 trillion in 2002 to $531.2 trillion in 2008 and credit default swaps from $2.2 trillion in 2002 to $54.6 trillion in 2008. Yikes!!
What a mess.
Five years ago, Warren E. Buffett warned that derivatives, complex financial instruments designed to hedge against risk, were "financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal." George Soros avoids using derivatives "because we don’t really understand how they work." And Felix G. Rohatyn described derivatives as potential "hydrogen bombs." It turns out that derivatives are the crux of the current economic mess, and and Greenspan supported and promoted their use.
The article includes a great graphic, Growth of a Complex Market,which shows the growth of the derivative market from $106 trillion in 2002 to $531.2 trillion in 2008 and credit default swaps from $2.2 trillion in 2002 to $54.6 trillion in 2008. Yikes!!
What a mess.
New Stock Market Terms
CEO --Chief Embezzlement Officer.
CFO-- Corporate Fraud Officer.
BULL MARKET -- A random market movement causing an investor to mistake himself for a financial genius.
BEAR MARKET -- A 6 to 18 month period when the kids get no allowance, the wife gets no jewelry, and the husband gets no sex.
VALUE INVESTING -- The art of buying low and selling lower.
P/E RATIO -- The percentage of investors wetting their pants as the market keeps crashing.
BROKER -- What my broker has made me.
STANDARD & POOR -- Your life in a nutshell.
STOCK ANALYST -- Idiot who just downgraded your stock.
STOCK SPLIT -- When your ex-wife and her lawyer split your assets equally between themselves.
FINANCIAL PLANNER -- A guy whose phone has been disconnected.
MARKET CORRECTION -- The day after you buy stocks.
CASH FLOW-- The movement your money makes as it disappears down the toilet.
YAHOO -- What you yell after selling it to some poor sucker for $240 per share.
WINDOWS -- What you jump out of when you're the sucker who bought Yahoo @ $240 per share.
INSTITUTIONAL INVESTOR -- Past year investor who's now locked up in a nuthouse.
PROFIT -- An archaic word no longer in use.
CFO-- Corporate Fraud Officer.
BULL MARKET -- A random market movement causing an investor to mistake himself for a financial genius.
BEAR MARKET -- A 6 to 18 month period when the kids get no allowance, the wife gets no jewelry, and the husband gets no sex.
VALUE INVESTING -- The art of buying low and selling lower.
P/E RATIO -- The percentage of investors wetting their pants as the market keeps crashing.
BROKER -- What my broker has made me.
STANDARD & POOR -- Your life in a nutshell.
STOCK ANALYST -- Idiot who just downgraded your stock.
STOCK SPLIT -- When your ex-wife and her lawyer split your assets equally between themselves.
FINANCIAL PLANNER -- A guy whose phone has been disconnected.
MARKET CORRECTION -- The day after you buy stocks.
CASH FLOW-- The movement your money makes as it disappears down the toilet.
YAHOO -- What you yell after selling it to some poor sucker for $240 per share.
WINDOWS -- What you jump out of when you're the sucker who bought Yahoo @ $240 per share.
INSTITUTIONAL INVESTOR -- Past year investor who's now locked up in a nuthouse.
PROFIT -- An archaic word no longer in use.
Saturday, October 11, 2008
Posted for WEBY
"Stock Market Quote of the Day: This is worse than divorce. I have lost half of my money and still have my husband ."
Friday, October 10, 2008
Show Link(s)
To listen to the ATF call to Pensacola Police Department dispatch in the Kilpatrick case , click here.
And read the story in the Santa Rosa Press Gazette.
Link to website of Jim Bryan for Congress.
And read the story in the Santa Rosa Press Gazette.
Link to website of Jim Bryan for Congress.
The Rats Are Abandoning Ship
Is conservative columnist David Brooks endorsing Obama? See Huffington Post, David Brooks: Sarah Palin "Represents A Fatal Cancer To The Republican Party"
The son of William F. Buckley has decided to vote for Obama. See The Daily Beast, Sorry, Dad, I'm Voting for Obama.
Who next? You?
UPDATE:
Lincoln Chafee, a former Republican senator from Rhode Island, he now calls himself an independent:
Bob Eleveld, Kent County Republican chairman who led McCain's West Michigan campaign in 2000, and now describe himself as a member of the party's moderate wing:
Former Republican Michigan Gov. William Milliken:
SECOND UPDATE
The son of William F. Buckley has decided to vote for Obama. See The Daily Beast, Sorry, Dad, I'm Voting for Obama.
Who next? You?
UPDATE:
Lincoln Chafee, a former Republican senator from Rhode Island, he now calls himself an independent:
"That's not my kind of Republicanism, I saw what Bush and Cheney did. They came in with a (budget) surplus and a stable world, and look what's happened now. In eight short years they've taken one peaceful and prosperous world, and they've torn it into tatters."
[As for McCain's choice of Alaska Gov. Sarah Palin for his running mate,] "there's no question she's totally unqualified."
Bob Eleveld, Kent County Republican chairman who led McCain's West Michigan campaign in 2000, and now describe himself as a member of the party's moderate wing:
"I think the straight talk is gone, I think McCain's pandering to the Christian right. That's some straight talk from me."
Former Republican Michigan Gov. William Milliken:
"He is not the McCain I endorsed. He keeps saying, 'Who is Barack Obama?' I would ask the question, 'Who is John McCain?' because his campaign has become rather disappointing to me."
SECOND UPDATE
Buckley's son resigns from the Nation Review, he was "effectively fatwahed by the conservative movement" after endorsing Obama.
See also Washington Post, National Review Boots Buckley Son For Obama Boost. When Buckley endorsed Obama he quoted his father as saying, "You know, I've spent my entire lifetime separating the Right from the kooks." Apparently that didn't sit especially well with National Review editor Rich Lowry. I guess the truth hurts.
How Low Will It Go
No, not Bush's approval rating, that might be in negative territory.
How low will the stock market indexes go. Read, The Big Picture, 10 Bullish Charts, Signals, Indicators. Barry Ritholz suggests that "are increasingly close to a bottom." I hope so.
How low will the stock market indexes go. Read, The Big Picture, 10 Bullish Charts, Signals, Indicators. Barry Ritholz suggests that "are increasingly close to a bottom." I hope so.
Hell Hath No Fury Like The Palin Family
It was only three dozen phone calls, just checkin on the ex-brother-in-law, making sure that eh is OK in that 'Safety Bear' costume. A chip off the old Cheney she is.
See: New York Times, Palins Repeatedly Pressed Case Against Trooper.
Watch out before you marry into the Palin Cosa Nostra.
UPDATE: Read:
New York Times, Alaska Inquiry Concludes Palin Abused Powers
Time, What the Troopergate Report Really Says.
Washington Post, Alaska's Family Feud
See: New York Times, Palins Repeatedly Pressed Case Against Trooper.
Watch out before you marry into the Palin Cosa Nostra.
UPDATE: Read:
New York Times, Alaska Inquiry Concludes Palin Abused Powers
"Gov. Sarah Palin abused the powers of her office by pressuring subordinates to fire her former brother-in-law, a state trooper, an investigation concluded."
Time, What the Troopergate Report Really Says.
"Did Governor Sarah Palin abuse the power of her office in trying to get her former brother-in-law, State Trooper Mike Wooten, fired? Yes. . .
Is the Palin administration shockingly amateurish? Yes, it is. Disturbingly so. . .
A harsh verdict? Consider the report's findings. Not only did people at almost every level of the Palin administration engage in repeated inappropriate contact with Walt Monegan and other high-ranking officials at the Department of Public Safety, but Monegan and his peers constantly warned these Palin disciples that the contact was inappropriate and probably unlawful. Still, the emails and calls continued — in at least one instance on recorded state trooper phone lines.
The state's head of personnel, Annette Kreitzer, called Monegan and had to be warned that personnel issues were confidential. The state's attorney general, Talis Colberg, called Monegan and had to be reminded that the call was putting both men in legal jeopardy, should Wooten decide to sue. The governor's chief of staff met with Monegan and had to be reminded by Monegan that, "This conversation is discoverable ... You don't want Wooten to own your house, do you?" Monegan consistently emerges as the adult in these conversations, while the Palin camp displays a childish impetuousness and sense of entitlement."
Washington Post, Alaska's Family Feud
"[Palin] and her husband pursuing a personal vendetta against the trooper, Mike Wooten, despite repeated warnings that they were impermissibly intruding into internal -- and already concluded -- disciplinary issues. Likewise, Ms. Palin's decision to repudiate her earlier pledge to cooperate fully with the inquiry does not offer assurance about how she would conduct herself as vice president."
Comrade Bush
After the bailout of AIG and Wall Street banks, as well as the auto industry, the Bush administration is now considering a partial nationalization of some banks. See Washington Post, The End Of American Capitalism
So who is the real socialist?
P.S. Actually, this isn't socialist, it is communist.
So who is the real socialist?
P.S. Actually, this isn't socialist, it is communist.
Class Today
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 be on air today, Friday, from 4:05 to 6 p.m. at 1330 AM WEBY and on line.
Tune in, call in, but only if you can handle the truth!
NoBullU will be on air today, Friday, from 4:05 to 6 p.m. at 1330 AM WEBY and on line.
Tune in, call in, but only if you can handle the truth!
Thursday, October 9, 2008
PANIC
There is PANIC, not just on Wall Street, but also within the Republi-con Party. Delusional ranting, calls for more anger, race-baiting, anti-Christ remark, and even efforts to form third parties. After eight years of George W. (The Worst) Bush, the house of cards comes tumbling down. Fear, anger, hatred -- ye reap what ye sow, Republi-cons, ye reap what ye sow.
God is all merciful and wise!
UPDATE: Read Washington Post, Anger Is Crowd's Overarching Emotion at McCain Rally
God is all merciful and wise!
UPDATE: Read Washington Post, Anger Is Crowd's Overarching Emotion at McCain Rally
Posted for WEBY
From Mike:
"Saturday Night Live: Tina Fey does Perfect Palin YouTube has blocked 'em. But NBC has them on their site:Is wanting to see these Tina Fey skits continue on SNL a valid reason to vote for McCain-Palin?"
Professor NoBullBert says:
"Answer, no, but Mike gets an A for having a sense of humor."
Pandering to Fear, Anger, and Hatred
Republi-cons have pandered to fear, anger, and hatred for years. I had hoped for better from McCain, what with all the references to honor, but McCain is just another Republi-con. See Washington Post, Rage in the Town of Bethlehem.
Fear, Anger, and Hatred, a great election strategy for the Republi-cons, just not a very effective governing philosophy.
Fear, Anger, and Hatred, a great election strategy for the Republi-cons, just not a very effective governing philosophy.
Wednesday, October 8, 2008
Posted for WEBY
From Mike:
Comment from Professor NoBullBert:
"What the Democrats and the mainstream press (my apologies for being redundant) won't tell you... This was published on September 30, 1999 during Clinton's presidency, so this is not a matter of hindsight being 20/20. This is critical to read and forward!!! Subprime Mortgage Mess: How it got started: read New York Times, Fannie Mae Eases Credit To Aid Mortgage Lending
And then it gets worse..... read this September 11, 2003, article about how the Bush Administration tried to prevent the mortgage meltdown and was stopped by the Democrats: New York Times, New Agency Proposed to Oversee Freddie Mac and Fannie Mae"
Comment from Professor NoBullBert:
"Mike gets a C for effort, and a D for understanding. Read my posts label Bailout, especially the following:
The Bailout is Not Working
The bailout doesn't seem to be working. The problem isn’t just $1 trillion in subprime loans, the problem is $62trillion in credit default swap liability (CDS) for collateral debt obligations (CDOs) that no one can unravel or value (or even understand).
What is a CDO or CDS? Imagine taking paper debt like mortgages, subprime mortgages, car loans, credit cards loans, and pretty much anything you can imagine. Now combine and mix the paper in a blender, spiking it with worthless rhetorical hyperbole that derivatives are the new paradigm of investments. Then pour the mixture in a pyramid of champagne glasses, to represent the varying levels of return (and risk), with the higher the glass, the lower the risk return and risk. That represents the CDOs. Now as you sell the mess, insure against the risk of the CDOs decreasing in value with CDSs. Presto, $1 trillion of bad loans is transmuted into $62 trillion in faux wealth. An alchemist would be proud.
That I think is a fair metaphor for the problem, and because of the scope of the problem the Feds don't know what to do. The 1929 depression offers a valuable lesson. A recent article in Time, Are Paulson and Bernanke Running Out of Options? states that:
The government should do the same now, defend depository institutions and provide a regime for the orderly failure of badly run non-depository financial institutions and insurance companies. In the process the government and the public will have to make some tough choices and learn to live within a budget.
What do you think?
P.S. Somebody should pay me for this, I prefer gold until further notice.
What is a CDO or CDS? Imagine taking paper debt like mortgages, subprime mortgages, car loans, credit cards loans, and pretty much anything you can imagine. Now combine and mix the paper in a blender, spiking it with worthless rhetorical hyperbole that derivatives are the new paradigm of investments. Then pour the mixture in a pyramid of champagne glasses, to represent the varying levels of return (and risk), with the higher the glass, the lower the risk return and risk. That represents the CDOs. Now as you sell the mess, insure against the risk of the CDOs decreasing in value with CDSs. Presto, $1 trillion of bad loans is transmuted into $62 trillion in faux wealth. An alchemist would be proud.
That I think is a fair metaphor for the problem, and because of the scope of the problem the Feds don't know what to do. The 1929 depression offers a valuable lesson. A recent article in Time, Are Paulson and Bernanke Running Out of Options? states that:
"After the 1929 collapse, which at its worst left a quarter of the workforce jobless, the U.S. instituted safeguards to ensure liquidity, confidence and trust in the U.S. financial system. There were four pillars: insuring the bank deposits of everyday Americans, allowing access to government funds in case of a panic, providing a regime for the orderly failure of badly run companies and limiting how much credit could be leveraged off a particular asset."
The government should do the same now, defend depository institutions and provide a regime for the orderly failure of badly run non-depository financial institutions and insurance companies. In the process the government and the public will have to make some tough choices and learn to live within a budget.
What do you think?
P.S. Somebody should pay me for this, I prefer gold until further notice.
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