As we peer into society’s future, we — you and I, and our government — must avoid the impulse to live only for today, plundering, for our own ease and convenience, the precious resources of tomorrow. We cannot mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage. We want democracy to survive for all generations to | Read More »
I’ve no sympathy for Bernie Madoff, but some calls for justice verge on the ridiculous. NEW YORK (Reuters) – Saying Bernard Madoff enjoys a “gilded penthouse incarceration,” civil rights activist Al Sharpton led a rally outside the accused swindler’s Manhattan home on Saturday urging equal justice for the rich and poor. The Seattle times says: Sharpton’s own debts include $365,558 owed in New York City | Read More »
Maybe I don’t have to remind Republicans, but a special shout out to my Senators: Mr Cornyn and Ms Hutchison, if you can do it under the rules, please place Mr. Daschle in your back pocket and sit on his nomination! To the Democrats: please remember all the kind words Mr Daschle had for you as Minority and Majority leader. Do you really want to | Read More »
Today, Eric Holder was confirmed as Attorney General. Holder’s chief supporter, Sen. Patrick Leahy, said the confirmation was a fulfillment of civil rights leader Martin Luther King’s dream that everyone would be judged by the content of their character. I’m glad he’s the first Black AG, but what’s the big deal? The Democrats were only too happy to oust the first Hispanic AG, and applauded | Read More »
Harry Reid, a Democrat from Nevada, somehow thinks he should have a say in the Senatorial appointments/elections in Illinois. Putting aside a general election (which I would prefer), it is a forgone conclusion that Illinois will anoint a Democrat to fill Obama’s Senate seat. So what? Governor Blagojevich’ appointment of Ronald Burris is legal and doesn’t seem to require any other approvals (like that of | Read More »
Senator Dickie Durbin (D-IL) has requested a special election to fill Senator Obama’s Senate seat: Sen. Richard Durbin of Illinois says the state’s legislature should order a special election to fill President-elect Barack Obama’s vacant Senate seat rather than allow Gov. Rod Blagojevich [Democrat] to pick a new senator. … “No appointment by this governor, under these circumstances, could produce a credible replacement.”__AP Last week, | Read More »
In a month or so, Obama has suggested we close Guantanamo for prisoners. Few care any longer, and this administration won’t complete any prosecutions. But <a href=”http://www.guardian.co.uk/world/2008/dec/08/september-11-confessions”>a few prisoners recently confessed.</a> No more trials for them. What about sentencing? It would be only fair to kick the bucket even further down the road, and ask respected Muslim scholars or Qazi (judges) to suggest sentencing and | Read More »
This week, Detroit will once again come to Congress and beg for money, after car-pooling or taking commercial flights to Washington. We can probably greet them at Gate 24 at United, in Reagan National. But Homeland Security might want us to wait in the baggage area. Be wary .. they have a lot of baggage. BMW, Toyota, and Honda seem to be doing ok … | Read More »
Garrison Keillor recently (Oct 10) wrote a column criticizing Governor Palin. I got the e-mail from a Washington State Democrat currently in France. I love my sister, but I just had to reply: Anybody that thinks a Chicago politician and the Senator in whose State every one of the “evil corporations” is incorporated will do any good for the economy is clueless. We should be | Read More »
As Nancy Pelosi casts the pieces of “The Paulson Plan” on the waters, Congress on both sides of the aisle might consider their sins of the past. From Alan Greenspan’s 2004 testimony to Congress: GSEs–the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal Home Loan Banks (FHLBs)–collectively dominate the financing of residential housing in the United | Read More »
I can’t believe our Republican leadership let an insurance salesman in the door. Some have proposed that we just guarantee the prices (provide insurance) for the buyers of securities. It is said this would cost less than $700B. “Insurance” guarantees that taxpayers will lose money on every mortgage backed security (MBS) that defaults. And make little on any that work out. Bad as it is, | Read More »
Cezar Chavez has been busily taking over Venezuela’s economy, and this is a bad thing. We deplore it. But The United States of America just nationalized a good portion of Wall Street. We, the Publick, now own 79.5% of AIG, one of the largest insurance companies in the world. Treasury notes pay ~2%, but the US Treasury (or the Federal Bank) has issued (printed) money | Read More »
The Fall election will not hinge on taxes, social security (what a laugh), medical care (have you noticed, MediCare and MedicAid are already bankrupt?), young v. old or black v. white, or even a better economy than most of the past fifty years (com’on folks, my Carter/Reagan mortgage was at 13%, and I was happy to get it). When it comes down to it, it | Read More »
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