Our two would be leaders are now actively trying to get involved in the “negotiation” of this post modern “New Deal.” Ok, I guess I would do the same but what can they really do? Neither of them sit on the relevant committee e.g. the Financial Services Committee. Starting to think I might pencil in Ross Perot he was right about NAFTA besides this country needs a little crazy.
Was NAFTA a mistake? Yeah she was running for President.
Both Obama and McCain (aides) took money from Freddie Mae. How about a Palin/Biden ticket? See now that would be change, two parties working together for OUR GOOD. Unfortunately with that ticket you would have one candidate who talks too much and one who doesn’t say enough.
Everyone seems to be asking whose fault it is that we now have to bail out all of these home owners who took on loans they couldn’t afford. Is it the home owners fault (yeah I think so) or is it the mortage lenders that wrote the loan (yeah they’re terrible people) or the federal regulators that let it happen (they let everything happen) or our elected representatives that wrote the law (the buck should stop here)?
“What happened next was extraordinary. For the first time in history, a serious Fannie and Freddie reform bill was passed by the Senate Banking Committee. The bill gave a regulator power to crack down, and would have required the companies to eliminate their investments in risky assets. If that bill had become law, then the world today would be different. In 2005, 2006 and 2007, a blizzard of terrible mortgage paper fluttered out of the Fannie and Freddie clouds, burying many of our oldest and most venerable institutions. Without their checkbooks keeping the market liquid and buying up excess supply, the market would likely have not existed.”
“But the bill didn’t become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn’t even get the Senate to vote on the matter.”
“That such a reckless political stand could have been taken by the Democrats was obscene even then. Wallison wrote at the time: “It is a classic case of socializing the risk while privatizing the profit. The Democrats and the few Republicans who oppose portfolio limitations could not possibly do so if their constituents understood what they were doing.”
Of course this kind of news is only going to drive Oil up. Yesterday alone it set a record jumping $25 in a day!What are our two venerable Presidential candidates proposing to do about the bail out? It’s being reported that both of them will “skip” the vote. So your job is to work for the people or at least fain like you’re representing them. You’re running for President under the biggest microscope you’ve ever seen and you decide, probably through the use of focus groups and consultants, it’s best not to vote. How is this demonstrating leadership?
What better way to kick Madness back off then with definitive proof that aliens exist.
So much has changed in the past month I feel like it’s a different decade. The Niners are in first place, the Dolphins beat the Patriots, there’s no longer people in the trees in Berkeley, there’s a new Savings and Loan scandal capped off with a bail out from you know who, there’s a woman running on a major party ticket, The Americans win the Ryder Cup and NAAFA is threatening to take the last bit of humor out of my morning commute (see below).
Ok, sorry for the lack of postings, new job and no internet (yet) at the new home are cutting into my postings. Trust me I should be back in my bitchy form in no time.
In the mean time I leave you with my Top 5 Seinfeld Scenes:
Dirty, tree sitting, hippies in Berkeley finally come down. In total it cost the State and the University $1.5 million to have police and security guards onsite to keep the peace for a year and a half. Just imagine how many additional tree’s could have been planted with that money. Welll done Dumpster Muffin you’ve again accomplished nothing. Keep up the good work.
You have to love the title of this article. “The world’s verdict will be harsh if the US rejects the man it yearns for.” Let’s put aside the fact this is a poorly worded title and focus on the fact that many foreigners think it’s necessary to be liked by other countries. Why? Why do we have to have the approval of the rest of the world? I love how this tinkerbell throws in a threat is his extremely long title. What sort of harsh verdict should we expect? I mean the world treats us so nice as it is what more can we possibly expect?
I’m back don’t act like you’re not impressed. It’s been a few weeks and vacation was sahweet. I’ll be posting regularly again on Wednesday this week.
So much has transpired in the past few weeks it would take me a week just to catch up so I will start from today’s news. Like a charging elephant here I come.
