Friday, April 30, 2010

Want A Party?

OK. So, what if you're fed up with the two party system? In fact, what if you're fed up with the party system? What other choices do we have? How about no party? Probably one of the best ways for that to happen is to eliminate the political party strangle hold on the Primary Elections. Why should two parties, run by some political bosses, decide who gets to run in the General election? What makes that fair? Or best for the Electorate? Electorate, that's us. If we had a wide open primary election, and have the two highest vote getters run in the General election, at least we'd be getting the two people most voters want. At least that's a start. It beats having the two candidates most party bosses want us to have, right? There are times when it could be the same two people either way, but at least we'd know we picked them. Not only that, they'd have less allegiance to any party and a little more toward us. That doesn't mean we wouldn't get some real stinkers sometimes, but it'd be our fault. The next thing we'd need to do is to cut back on the requirements of having so many petition signers. I mean, we need some proof this isn't a nut case running, but make it possible for a dozen or so candidates to run in the Primary. Not just those chosen few. Then if we wanted really good candidates who actually might make good legislators, we need to get rid of so much corporate and special interest sponsorship. Arrange for real honest debates that all candidates must participate. If you have fifteen debates, require that a candidate must p[anticipate in no less than twelve. And no name calling, finger pointing and all that sillyness. And they must be televised. Let the government pay for it. It would be worth the expense in order to get good competent people in office. You know, instead of folks like me.

To Party or Not to Party.

Florida Governor Charlie Crist is a Republican. No, make that WAS a Republican. Whether or not he's successful in his bid for the U.S.Senate, I don't know. But it does bring up a good point. Exactly how important are political parties? I mean, come on, be honest, how do they help you or me? The short answer is, they don't. But then the long answer is, they don't. Here's the way it works. We have two parties. they reward some chosen members, who want, with the opportunity to run for office. If you're a party faithful, you may get their backing, which means they'll spend some money on your behalf and help get out the vote in your favor. If you're not the chosen one, they'll campaign against you. All this happens in the Primary. Then in the general election, the public gets to vote for the two people the parties have chosen. And you thought you voted for the winners of the Primary. Well, you do, but the winners of the Primary are the hand picked of the Parties. So if these "winners" are chosen, financed and campaigned for, by the Parties, who do you think they will owe their allegiance to? You? You're kidding, right? The top two candidates don't run in the general election. The party favorites run. Which means you generally don't get to choose between the two best candidates. Just the two people the Parties like the best. They go to Washington, or your state's capital to represent the? Who do you think they go to represent? If you said the Party, you win. Well at least you win a correct answer. You don't actually win. In fact you loose. So. how important are political parties? To the parties, they're very important. To you they're less than helpful. In fact political parties are downright bad for the people. They are the ones who cause gridlock in Washington. So that nothing gets done, or maybe even worse, bad things get done. Wouldn't it be great if there weren't any parties any more? It is possible.

Thursday, April 29, 2010

Greece, Oh Greece.

What's the big deal with Greece? They can't pay their bills? Then let them go bankrupt. Right? Well, actually there's a little more to it than that. OK, so maybe Spain and Portugal and maybe even Ireland could go down too. So what? Well for starters, if those four were all to go under, then other countries with large debt loads like for instance, oh I don't know, like America, could be at risk. Here's what happens. People, well actually, large banks and investment funds and the like, make loans to countries. They pick countries because countries are safe investments. But if suddenly, lending to countries wasn't so safe, they might look for even safer bets. Like Gold or companies like Exxon with it's giant profits. When the lenders won't lend, then the countries won't have the money they need to carry them until payday ( tax day). That's when the countries go bankrupt. It wouldn't be pretty. In fact it might get down right ugly. Because the countries and companies that own that debt will find themselves in trouble. Suddenly the likes of China would be in financial trouble. That's because if America went bankrupt, China wouldn't get paid for all of the money it has loaned us. Lots of things would hit the fan. None of it nice stuff. Back to Greece. If they get the loans they need to stave off bankruptcy, what's to say they won't keep making the same mistakes? There's the rub.

Wednesday, April 28, 2010

To Arizona With Love

Ya know, I don't think enough can be said about Arizona and it's new law. Now, if they had just said that being an illegal alien in Arizona was illegal, it would have been OK. A little silly maybe, but OK. But then they had to go and spoil it by getting semi-serious. By that I mean, they decided to make the police try to figure out how to decide who's illegal and who isn't. But as if that wasn't bad enough, they said that if anybody doesn't think the police are doing a good enough job at finding illegals, they could sue the police. Do people really need an extra reason to file law suits? On the other hand, if you're one of those people who don't like Hispanics, I suppose this is your chance "ta get em". I can see now why Arizona's good Governor has signed this bill into law. What with the right to carry handguns and this new law, why, we're back in the good ole wild west. Actually, we're not. They are. Is it me or do other people feel as though the folks in Arizona are from another planet, or maybe from a third world country? Maybe if you make some group into the enemy, you make it safe for your reelection. Of course there is a real problem with immigration and with Mexican cartels and gangs coming into our country and dealing drugs and kidnapping and even killing. But does Arizona think they can handle it themselves? Maybe they think the Federal government can't handle it. Goodness knows the Fed has been underwhelming us with their prompt attention to the problem so far. But folks, it is their responsibility. Why not pass a law that says any Congressman or Senator found in the State of Arizona is guilty of not working on the problem. After all, if they're in Arizona, they obviously aren't working on the problem, are they? So, watch out John McCain.

Tuesday, April 27, 2010

Lion Food

I've been coming down pretty hard on Goldman Sacks. I've also found fault with Moody's and Standard and Poor's. Well let me say here and now that they richly deserve it. But there's another skunk in the woodshed and it's not you or me. Well in a round about way I suppose it is our fault. I say that because you and I elected the bums. That's right. Congress is a big player in this. They're up to their necks in guilt. See, what happened is like Bethany McLean said this morning in the NY Times in her Op-Ed "Meet The Real Villain of the Financial Meltdown". The Government agencies that were supposed to be the watchdogs, fell asleep. Congress, who was supposed to make sure there were laws to protect us, did just the opposite. They deregulated and stopped the watchdogs. So did the Administrations in charge. They were more interested in helping business be more profitable then in people being more protected. The idea was that the businesses would watch out for the best interests of the people. That's right. The lion would lie down with the lamb. And the lions did. Until they got hungry. Then they began to eat the lambs. Well, come on! What did you expect lions to do? But like Bethany said, if the Congress had protected the people, if they had bothered to try to oversee these Derivatives et al, there might not have been a financial meltdown. But of course, this wasn't the fairy tale Congress expected. All didn't end well. A lot of people got hurt. Investors lost retirement savings, home buyers who were duped into buying homes they could never afford, lost them, along with people who, later, lost homes they could afford to buy, but the market dropped and the value of their homes dropped below what they owed. So this November when you vote for your Congressman and maybe Senator, remember these guys probably thought more of their respective parties and of their own reelection then they did about your well being. Political parties don't give two hoots about you. Only about staying in power. Or getting back in power. And it all comes down to where the money is coming from to accomplish that goal. Duh! It comes from big business. Now, don't you feel like a lamb? Uh oh. Did I just hear a lion roar?

Monday, April 26, 2010

ARIZONA

How about that Arizona. Arizona ain't for lovers. At least not lovers of the Constitution. Now, believe me, I know how frustrating it can be waiting for Washington to get off it's duff and do the job, but, it ain't the State's job or the county's or the city's or even the neighborhood's job to run the immigration department. That's the country's job. It's past time for something to be done by Congress, but let's not start trying to be separate little countries or fiefdoms with each one doing things it's own way. Because that way would lead to separate armies and we'd wind up like the Balkans with petty feuds all over the place. And the idea of requiring the police to stop and question anyone who, in their opinion, looks like an illegal alien is simply put, idiotic. Just how do you, as a cop, figure out who is an illegal and who isn't? Maybe every third person? Or anyone who looks like they may be Hispanic? Oh? You don't think that'll happen? This is a 007 license to harass any Hispanic who has the audacity to step out into the public. Who does dem think dem is? Of course the good governor says she won't allow racial profiling. Boy that's a relief for all you Hispanics. The governor can sit in her office in the capital and the cops who want to, can do as they please. Now don't get me wrong, most police officers will abide by that rule to the best of their ability, but hey, come on, who's kidding whom? How else can you decide who's illegal? Oh that's right. I just said, every third person. Well Governor, let's hope you've got the right number.

Love Those Ratings Agencies Too

WOW! I just read that the ratings agencies may have facilitated the selling of these toxic investment schemes. These derivatives. Here's what Paul Krugman of the NY Times said was happening, based on the released emails by the Senate Permanent Sub Committee on Investigations. The ratings agencies were in competition for business. Whichever got the go ahead to rate one of these toxic investments got paid. Well Paid. The way to get the business was to give this garbage an AAA rating. So the trusted Moody's and Standard and Poor's were putting their stamps of approval and the recommendation to buy, on these things. With that AAA rating, lots of funds got suckered in. So, ya see? It was a con game. Complete with shills and everything. Yes siree bob, These guys are real pros. No small town street corner thugs, these guys are clean, lily-white pros. If they got suckered out of a twenty dollar bill, they'd run screaming to the cops. Good citizens ya know. But when it comes to the big con, these guys win the kewpie doll. Remember the movie The Sting? Well that was small potatoes. In fact it was tiny potatoes compared to what these guys were pulling off. And they didn't pick just some crook. They were hitting on big investment funds like your retirement fund. You know, the one where you lost so much that you won't be able to retire for another hundred years. Unless, of course, you're invested in the same fund as these guys. Then you may be safe. Unless they find out you're in the fund too.

Sunday, April 25, 2010

Somolia v New York

How are Somalia and New York similar? Why, both have pirates working within their borders. How are they dissimilar? Well, Somalian pirates use guns and threaten to blow up ships unless they are given their ransom, whereas in New York, they sell you packages of garbage they call derivatives, tell you that these things are good and will make you lots of money. Then they bet against you, so that when the investment goes south, and you know it will, they can cheer for joy at all the money they're making off your foolish innocence. Ya gotta love the Goldman Sacks execs. They knew how to have a good time at other peoples expense. I suspect Blackbeard would have approved. Of course they didn't actually steal your money. They stole it from the investment companies who you invested in, who bought those derivatives on the say so of the GS execs. So in a way, they can claim the investment folks that bought, should have known better. Yeah, OK. Do you buy that story? Be careful, these guys are good at selling a story. After all, they got one by investment brokers who, by their own story, they claim should have known better. Ya gotta be a fast talker to pull that off. My guess is that every con artist looks at it that way. Now, I don't mean to sound anti-Wall Street. I do mean to sound anti-Wall Street underhanded and risky business. There's a difference. Investing is good, but when the casino opens in the lobby, I get a feeling things aren't going to go well for somebody.

Saturday, April 24, 2010

The Economy Explained, Maybe.

Ever heard of the IMF, the International Monetary Fund? Hmmm. How about a new Fiscal Commission in the U.S? Well, if you haven't, or if you have but didn't know what they are or what they meant, you probably will in the not too distant future, and you probably won't like what you hear. Ya know, pretty nearly everybody wants to get our national debt under control. Most of us aren't really sure why, but it seems to be the right thing to want to do. People who seem to be really smart say we need to do it, even Tea Partiers say so, so it must be true. The thing is, in order to do it, there has to be some pain. The Tea Party wants some folks, most klikely the politicians, to take a hit, politicians want some others to take a hit, probably the Tea Party. It even depends on which political party you belong to. It seems to me that the best way, the most fair way would be for everybody to feel the pain. You can be sure, that's the least popular approach. So what are we talking about? What pain? I don't pretend to be an economist, but the folks who are, say one way is to devalue the dollar. That makes us more competitive in the world, but it means that the price of everything we buy, will go up in price. EVERYTHING! That sucks, doesn't it? Instead of that, we could raise taxes. Now that really sucks doesn't it? There are other things that could be done, like raising the retirement age to 92 or something, but those alone won't do the trick. In fact we'll need to do several thing together, or at least that's what IMF is saying, because we're running out of credit. And it's not just us, it's most of Europe and most of the rest of the world. Except for countries like China. They're the ones holding all our debt, but if we default, they'll go under too. IMF explains it like our credit cards. They say our (USA) credit cards are all maxed out. Ahhh! Now I'm beginning to understand. I suppose we could get a mortgage on the White House etc, couldn't we? Or a second mortgage? I think they're saying the market for White Houses has crashed. We now owe more on it, then it's worth. Get it now? Oh, I do, I do.

Friday, April 23, 2010

Wow That's A Volcano!

Just when we Earthlings thought we were pretty darned important and that we can run things our way, along comes a volcano we can't even pronounce or spell to show us how puny we are. Our whole transportation system, the means for us to be a global community, falls apart. Or at least a major portion or it does. Just a hole in the ground with smoke and liquid rock pouring out of it and half of the developed countries in the world are at a standstill. You don't suppose we over estimate our importance do you? Now, I'm not going to get into a discussion about religion. I just want to examine our custom of assuming our own importance outweighs anything thrown at us. Then along comes a simple rumbling in the ground or a semi-big storm and we're crying on everyone's shoulders. Think about it for a minute. We humans pick places to develop that are in some of the most inopportune locations. Places that are prone to flooding, storm damage, wildfires and so on and then complain to the government because it's not doing enough to help. Wouldn't it have made better sense to build away from those rivers that flood or the coast where storm surges destroy, and where all those other problems occur. After all, when we were children, we learned not to put our hand on the hot stove or our tongue on the frosty pipe didn't we? So what's wrong with using those same principles in the rest of our lives? Oh yeah. I forgot. We're still in complete control of our lives and we sure don't want any big brother telling us what to do. So there.

Thursday, April 22, 2010

Folks, ya know, neither the Democrats nor the Republicans get it. They just don't understand. We don't care which is right. The Republicans are claiming they forced the Democrats back to the bargaining table. The Democrats are claiming the Republicans were forced back to the bargaining table over the financial reform bill. Now be honest. Do you really care which is right? Are you happy the Republicans won? Or are you happy the Democrats won? That's my point. We don't give a mouse's tail who scared John into doing the right thing. The point is, we'd like for them to give us some legislation that will help stop this super recession kind of thing from happening again, because some greedy SOBs on Wall Street want an extra large bonus. Why is it that both parties have to turn everything into a victory for them and a loss for the other party? Do you care who wins? Is all this a game, like football or soccer? If it's important to all of you who wins, then maybe we should be honest about it and sell tickets to the House and Senate hearings and sessions. There could be vendors walking around selling hot dogs and get yer ice cold beer here. We could have halftime shows with the likes of Janet Jackson and her equipment failure. We could have billboards on the roof of Congress. How about uniforms for the teams with names and numbers so we'll know who's working the crowd. The scoring will be more difficult. But how about two points for a bill passage, three points for a successful filibuster and one point for a veto. But what about penalties. This could go live on FOX and the COMEDY network. Yes, something this big will need two competing coverages. On the one hand you have Hannity calling the plays on the other you have Colbert or Stewart doing the color commentary. The ratings could go through the roof. Team players would all get huge pay increases and we'd actually have a reason for having a Congress.

Wednesday, April 21, 2010

VALUE ADDED TAXES

I keep hearing about VATs, value added taxes, It's a sales tax, plain and simple. Of course, it can be formatted in any way the government wants, but it still boils down to a sales tax. VATs are fine as far as they go, but make no mistake, they fall harder on the poor then they do on the rich. This is an argument I've had many times with my cousin. Here's why I say it hurts the poor and not the rich. When you have to pay a tax on the necessities of life, you're taxing every nickel the poor earn. When you tax the necessities of life, you're taxing only a small part of the earnings of the rich. Now, I know this is hard for the rich to wrap their minds around, but a poor man has to spend all his income on food, clothing, shelter and transportation. There's precious little left for the niceties of life. So basically everything is taxed. There's no money left over for savings and investments. But the rich man pays taxes only on what he spends. What he saves or uses to invest with, goes untaxed. That's a big advantage for the wealthy. Now I understand all the arguments about the rich mans investments and savings creates jobs for everyone, but the fact remains that they are not both being treated equally. Any way you slice it, the poor man comes out with the short end of the stick. It's not that the poor want to be treated better than the rich man, just the same. That's why the income tax is fairer for the poor man. And I know how unpopular the income tax is. It's about as welcome as the gentleman who passes gas loudly at the prayer service. It would make everyone wish he had stayed home. But I was there, and it happened and that's that.

LIGHT UP THE HALLS OF CONGRESS

It appears the Republicans in Congress have seen the light, or at least saw some sort of glimmer of light. They were dead set against the Democrat bill being worked on. They felt it was bad for business and the country and should be scrapped. Presumably in favor of one they would come up with. After all, they are the minority in charge. That was until they were for it, or at least willing to help refine it. What caused this turn-about? My guess is that they were hearing from everyone from conservative Christians to Tea-Partiers to, well, most likely everybody except the Wall Street Lobbyists. This is probably not the best time to be a Wall Street Lobbyist, if your bonus is dependant on scuttling any legislation. Of course they won't give up just yet. They may not be able to stop legislation from happening, but it's not too late to eliminate any meaningful measures in the bill. You know, like telling them they can't continue with business as usual. There's still time to word this new legislation so that it doesn't change anything. After all, that's what these lobbyists were hired to do, isn't it? So, will it be the end of the rooten tooten, shoot em up, round um up, wild west of the east, Wall Street? Or will Wall Street come out on top again? As the Duke would have said, "Well Pilgrim" we'll just have to wait and see. In the meantime, don't hold your breath thinking the world will be safe from these Dastardly Villains of Wall Street. They'll think of some way to make a buck or billion.

Tuesday, April 20, 2010

MAN, DO I HAVE AN ABACUS FOR YOU

I can't believe it. It just doesn't seem possible. Goldman Sacks lost money on this toxic mortgage bundle scheme, this Abacus thing, they claim, and so did everyone else who ever even heard of it. You didn't have to actually invest in it, or bet against it, so the story goes, all you had to do is hear about it and, presto, you lost money. Am I glad I never heard of it before. Oops, I hope knowing about it now doesn't mean I'm going to loose any money. Hey, where's my wallet? Oh, alright, but this sounds a little suspicious to me. Goldman helps put this toxic brew together, which they apparently knew was going to be a looser, and then they invest in it themselves? It sounds like an Abbot and Costello routine where one plans a con and the other buys it by mistake. Oh, alright, they're more sophisticated then Bud and Lou, but it looks like they weren't a whole lot more sophisticated, if you believe Goldman's story. The question is, are they still guilty of perpetrating a con game even if they conned themselves in the process? YES! Being stupid is not an argument the courts will accept. Unless of course, it's this Supreme Court. Then all bets are off. Maybe that was Goldman Sack's plan all the time. Act stupid, play dumb, the court will eat it up. What I don't understand is this, if everybody lost money on this deal, who got the money? Oh I know, the guy that thought up the con in the first place got his share. Presumably he was smart enough not to buy into it too. But who got the rest of the money? Ya think it just disappeared? Even the money that was bet against it? Maybe sombody is sitting on a beach in Central America with a large suitcase next to his loungechair. This is an act that could make it on TV as a situation comedy if it were just a little more believable.

Saturday, April 17, 2010

Well It Bares Repeating

I've said it before, but it's worth saying again. The Wall Street Bankers that caused the financial meltdown that caused our Great Recession, did cause it. No, it wasn't just one of those "blips" that happen in the market and business from time to time. What happened is that folks like Goldman Sacks cobbled together a package of toxic "financial products". That is to say they bundled a bunch of mortgages that were almost certain to fail. Then they sold these "financial products" as quality goods. Then they bet on the "financial products". That is to say, they placed bets that the worthless mortgages would go down the tubes. So they got top dollar for rubbish, then placed a bet they were sure to win, against the rubbish. In sports, that would sorta be called putting in the fix. Now I don't mean to infer that these folks did anything untoward. They just played fast and loose with their customers. I hope none of their customers were the Mafia. These bankers could get called in to explain and maybe even make good on the investments, so to speak. Maybe the government will call them in and make them make good on the investments, so to speak. I'm not interested in vindictiveness, but I sure would like to see some of those giant bonuses go to the folks who lost a bundle on their investments. Do you suppose these bankers that played those games will ever get their comeuppance? Do we have an extradition treaty with the French Riviera, or the Cayman Islands? I'll bet the bankers know.

Friday, April 16, 2010

Bank Bailouts or Regulation

I don't know about you, but. I don't understand much about the debate over proposed regulations over banking and the so-called shadow-banks, but one thing is for sure. That is, we need to make sure these jokers don't hold us up again. I feel like somebody walked into the government wearing a mask and carrying a gun and a very very big paper bag and said give us all your money. When they took off their masks, it was the big bankers and Wall Street types. Ya know, there's an old saying "If they do it to you once, shame on them. If they do it to you again, shame on you". Well, they did it to us once, hmm, actually this isn't the first time. Think back. There was the Great Depression and the Savings and Loan debacle. So this is the third time. One of these days we should get our act together, think a little bit, and then put some strong legislation together and even stronger oversight for them, to protect ourselves. Stifle business? How about stifling monkey business. Since when is it OK for these folks to make millions on risky deals using our money and when the deals go south, call up uncle Sam and ask to be pulled out of the frying pan. We loose the money, but they get to keep theirs'? If it's OK to make millions using our money, then it should be OK for us to have somebody looking over their shoulder. So, let's take the strongest parts of the Democrats' plan and the strongest parts of the Republicans' plan, put them together and tell the bankers to like it or don't. Does anyone think they'll stop wanting to make money?

Thursday, April 15, 2010

Ya Know What? Cheap is Cheap.

It's not news news, but I'm confused by all the complaints I've heard lately about corporate taxes being too high in the United States. If that's true, then we should fix the problem, and it is a problem. It would surely drive corporations and their jobs to other countries with lower taxes. That's a bad idea to anybody's thinking, I would think. But then to prove it, out comes the report that Exxon made a $35 billion profit last year. That's $35 billion! That's BILLION! That's DOLLARS! Thirty five billion dollars! Profit. Not total income, but profit. Ok. Ok. But that's a lot of money. Of course they paid $15 billion dollars in taxes. That's almost 45% taxes. Forty five percent is a whopping tax burden. Maybe some folks don't think so, but I sure do. That only leaves $20 Billion dollars walking around money. Now I understand why corporations are squealing about the bite being taken out of them. There's only one problem with this picture. All of those $15 billion dollars in taxes are paid to other countries. That's right. Of the $15 billion dollars in taxes, $15 billion dollars of it goes to other countries. That leaves a whopping ?? Wait a minute 15-15 =0. They don't pay any taxes at all to the good ole United States of America. Uncle Sam gets a fat ZERO in tax revenue. So. If the U.S. of A. lowers it's corporate taxes, how much will the US of A get? How much is a minus tax revenue? And remember, Exxon and the rest of the big oil companies still have those sweetheart deals on drilling leases where they pay next to nothing or nothing at all and maybe get a little incentive too, I don't know. If you ask me, we could double their taxes and we'd still wind up with nothing. How is it that a 45% tax rate on $35,000,000,000.00 comes out to $0? Is that the new math or the old math?

Wednesday, April 14, 2010

BELIEVE IT OR DON'T

Listen to this. The government. OK, this administration is trying to get mortgage banks to reduce the principal of mortgages that are higher than the value of the homes for folks who are in danger of loosing their homes and want to keep them. Some would say that's a noble thought. But the bankers, especially the big bankers are against it. Well, actually they claim to be for it, but to do it only very slowly. Presumably slow enough to be too late. So the deal is they say it might be unfair to people who are keeping up on their payments. And that those folks might then default. I guess the thinking is that people will get mad and spite the bank into taking their home away from them. Would people really do that? Would you get mad at the bank and hand them the keys to your home so you could move in with your cousin who you can't stand? But it's important to remember that these bankers are the ones who's banks were considered too big to fail. They're the ones who had to be bailed out. I don't remember any banks who weren't big enough to not fail, getting mad and going out of business to spite the government, do you? So! They wanted to be bailed out but they don't want to bail out any homeowners. That sure does sound reasonable to me. Don't you think these bankers are being totally fair? Aren't they good solid citizens? Interested only in making sure that everybody has a roof over their heads? Even if that roof is the parking garage at the bank? Open between 10:AM and 4:PM. And remember to do your banking at XYZ where you get a free silver-plate candy dish for opening a new checking account.

Tuesday, April 13, 2010

DIZZY ON THE LEHMAN MERRY-GO-ROUND

Here's the deal, if you can follow it. I confess, I have difficulty. Lehman, the investment company that later went belly, up buys into a little company called Hudson Castle which then creates Fenway (sort of a legal shell company). Fenway lends to Lehman subsidiary so that Lehman can buy $3 billion of Fenway notes. No! Wait! It's like this. Fenway loans to Lehman. Lehman buys $3 Billion in Fenway notes. Fenway loans to Lehman subsidiary. The loans are secured by California developer. Lehman pledges Fenway notes to J.P.Morgan to secure loans from them. Folks, it's all in a days work. Does anybody think this is an isolated instance? Or that Lehman is the only outfit to use these "shadow" companies and deals? Actually this seems to be fairly common. Banks or Investment companies who want to hides assets or, more likely, bad investments. Anything that might make their bottom line look, ahhh, ummm, uhhh, what's the right word here, oh, yeh, BAD, can be hidden by using these kinds of gimmicks. Now, I'm pretty sure that if I did anything like this, or even you, and we got caught, it's off to the gallows, or at least the hoose gough (is that the right spelling for the clink?). There would be no last minute reprieve. But do you think the folks at Lehman, or even some of the folks at this Hudson Castle will suffer the penalty or languish away the time in the lockup? They will be forced to accept millions in bonuses. And let that be a lesson to them. From now on little children will be frightened by bedtime stories of Lehman execs being forced to live on the Riviera, or Cancun, sipping mint juleps while getting full body massages. Oh, yes, it's true, crime doesn't pay. At least it doesn't pay for you and me.

Saturday, April 10, 2010

Judges?

What's the problem in America? Courts are a part of the problem. From the Supreme Court which has decided there should be more money trying to buy more elective offices, to the the Middle District for Washington which thinks that no government agency should have jurisdiction over any industry. Harsh words, you say? Well, actually not too awful. The Supreme's who decided to open the floodgates to corporate spending in elections has effectively lessened the possibility that the truth can be revealed during any election. Why? Because the spin machines will be going full steam to make sure that truth is invisible. What's that you say? That's already happening? You're right, but hold on to your hat, it's going to get a lot worse. Then you have the Middle District Court for Washington. It doesn't get the attention that the Supreme's get, but when it comes to corporate oversight, they rule the roost. If a government agency doesn't cross it's Tees and dot it's Is they won't be allowed to tell a company not to kill people with poison. In fact, even if they do, the court often just decides the agency doesn't have authority in that industry. So? What's the answer? Well, it's not Congress necessarily, although maybe Congress can address some of the problems, what we need is fewer conservative activists on the courts. That doesn't mean we should have more liberal activists. What we need is more party neutral judges. You know, folks who think the law is what they should be following, not what Sarah or Nancy are preaching. Now the good Governor and the good Speaker can be fun to watch and to make fun of, and even to dislike, but neither are telling us anything of much value, or any value. What would be good would be if people, We The People, decided to check out what we're hearing and seeing, to make sure it isn't a pile of fresh, steaming, strong smelling BOLOGNA. Then we need a president who will look beyond party loyalty and nominate someone who isn't in sympathy with either court to serve on those courts. You know. Somebody who wants to serve the people.

Friday, April 9, 2010

Boy, The Prices Keep Going UP

Well, I looked through the papers today and can you imagine, I can't find one funny story about any politicians. Now, to be fair, I could have missed a dozen or two stories. I did hear that people are flocking away, or as some might say, abandoning ship, at the RNC. Can you imagine? Over some silly non-issue thing like a girly show. It must be those Christians, and every other religion for that matter. Well, you know, boys will be boys. But hopefully they'll grow up before retirement age. Ya know, most guys like to look at pretty women, and I think most women like to look at handsome men. But mostly they don't put it on the company card. At least not when it's a very public company. After all, would you vote for somebody that hires hookers in the airport? You would? Well then, there you go. You got what you wanted. Now I don't want to sound like I'm anti-GOP. It's just that they're the ones making the most mistakes right now. Tomorrow it could just as easily be a bunch of Democrats playing fast and loose with our money.
That's the great thing about a democracy. Freedom doesn't come cheap. Have you seen the price of escorts these days?

Thursday, April 8, 2010

Look, the Sun is Shining on Guam

Yep, the sun's shining and the weather is warm, but I'm still stuck in the winter blues. If you wonder why, think about all the changes that are taking place. Education is taking another step backward in places like Texas. A whole bunch of States Attorneys General are preparing to fight the healthcare bill. Presumably because it will, for the first time, give every American equal access to good healthcare. One Congressman was worried that too many American troops on Guam might tip it over and sink. NO! WAIT! Tip the island of Guam over because of over population? You know what? I'm beginning to feel better already. A little good humor can do that for you. I'm not sure what this guy's name is, but do you realize this guy actually got elected to the U.S. Congress? No. I mean, he thinks an island can tip over. I mean, he got elected to the U.S. Congress and thinks an island can tip over. Shouldn't there be some sort of exam or test or quiz that newly elected officials must pass before they're allowed to vote on bills that effect the lives of all Americans? I don't mean to set the bar too high. After all we do need to elect a full slate of representatives for Congress. But shouldn't these people at least know that islands don't tip over from overpopulation? They may sink from too many legislators but they don't tip over.

Wednesday, April 7, 2010

King Coal

I was just sitting here, reading about the horrible mine disaster in West Virginia on the Internet when I noticed at the top of the screen, an ad for CLEANCOAL.ORG That's right. Clean coal. Now, I don't know about you, but I haven't seen or heard of anything that convinces me that there's any such thing as clean coal. I've seen the evidence of coal mining in Northeastern Pennsylvania during the 19th and 20th centuries and the damage left by the coal barrens. I've seen the evidence of the destruction brought about by Mountaintop Removal mining in West Virginia, and we're all seeing what it means to have mines and the new coal barrens ignore common sense safety in the drive to the bottom line. Of course, I understand we can't suddenly, tomorrow morning at 9:15, switch to a clean safe energy source. But isn't it time to get serious about replacing coal as our number one "go to" energy source? Shouldn't we stop wasting money on trying to put lipstick on this pig? Coal is dirty. Coal is dirty to extract. Coal is dirty to burn. Coal is dirty to dispose of the ash. Dirty meaning unhealthy, dangerous, and odorous. Does anybody actually believe coal is their friend? It's like trusting a scorpion. You may think it's interesting. You may be impressed by it's unwavering intent, but eventually it's going to sting you. Well, what did you expect it to do? It might turn out to be somewhat expensive to replace it in the short run, but in the long run, we'll be a lot happier that we did. And, after all, doesn't everybody like a happy ending?

Tuesday, April 6, 2010

Who Owns the Wars

So, whose wars are they anyway? We're fighting two wars at the same time. In Afghanistan where we attacked the people who bombed, or at least planned the World Trade Centers and Pentagon bombings, and in Iraq where we attached a viciously cruel leader, we're fighting every day. Well actually "we" aren't really fighting. A lot of very good young men and women are fighting our fight for us. The thing is, most people don't even realize it, except in an abstract way, unless you know somebody over there. To be sure, lots of us know somebody over there, we may even know somebody who has been killed or wounded. But mostly we don't feel like we're at war with anyone. Why is that? How come so many young folks have taken up arms against an enemy that we don't know and don't seem to think about? Oh, we think about terrorism and the threat, real and imagined from terrorists. We think about terrorists when we see somebody dressed differently, which isn't a real threat, but do we understand what the real threat is? Well, again, only in the abstract. When's the last time you talked with a veteran of these wars? When's the last time you've discussed the ramifications of continuing or discontinuing our fight? What about the costs? In terms of the lives lost or destroyed and the wealth of our country spent? How is it that we feel we have the right to ask these young people to place themselves in harms way for ideals they may not understand? That may never have been explained to them? That we may not understand or may misunderstand? Who can answer these questions with any real authority? Usually I like to end up with some humorous line or two, but I just can't think of anything funny to say about this.

Friday, April 2, 2010

Lets Trade Insurance

It amazes me that there are still people who are mad as the dickens that the country has decided to provide healthcare to everyone. Or at least nearly everybody. You'd think the Congress had voted to take it away from them in order to give it to somebody else. When you get into a little debate with one of those people, ask them if they think all those uninsured people have good healthcare. You know what you'll hear? Of course the poor have good healthcare. In fact they have great healthcare. Now this is where it gets fun. So, when they say that, and they will, ask them if they'd be willing to trade. You know, swap insurance coverage and healthcare with somebody who doesn't have any now. See, the thing is, for all the talk, unless you've actually been without coverage, or know someone close who has had to go without, it's all idle chatter. For rich folks and folks with good jobs, with good insurance coverage, life is good. When life is good, it's hard to see how life could be anything but good. Hard times are just an abstract thought, with no meaning. How many of those folks actually go to a free clinic and wait in line, be treated like a number, maybe even rudely, have to prove you're poor just to get a little care. Don't get me wrong, the people that man these places are doing a wonderful service for people who wouldn't have anything otherwise. But it ain't quite the same as having your personal healthcare provider call you by your first name, shake your hand, ask you how the kids are doing in scouts. It's not quite the same. Most folks really wouldn't swap, and those few who would, would quick enough, want their coverage back.

Thursday, April 1, 2010

Giddy Up Hoss

If you had to guess, what state do you think is unwilling to go along with new math and English standards? If you guessed Texas, you must have peaked. Yep, them there Texicans ain't goin to let no Federal help get in the way of their decision to confuse their children. They're against common academic standards like the rest of the country wants. Nope. Just because the rest of the country (OK Alaska doesn't either) is getting together to make sure that every child is getting the same quality education, at the same time, no matter where they go, doesn't mean Texas children will. You got it folks. They can still major in Rodeo 101 and pickup racing 106, you just can't learn about two plus two till high school. Oh yes. And they don't like Thomas Jefferson either. So what you learned about our forefathers isn't exactly what the folks back home in Lookinback will learn. Texas State School Board Member Don McLeroy is dead set against change that isn't in lockstep with his Fundamentalist Christian beliefs. Now, I firmly believe in religious freedom. But to me, that means everybody should have religious freedom, not just him. Religious freedom does not mean "my way or the highway". It's not freedom, if you can only be free in one religion. Don't get me wrong, they have pretty good food in Texas, but I wouldn't want a steady diet of it.

You Can Lead A Horse To Water But

You can lead a horse to water but you can't make it wash. Huh? Just because you please some conservatives on offshore drilling, doesn't mean they'll vote for your energy or environmental bills. That pretty much proved itself in the Healthcare bill. After adding a number of ideas the Republicans wanted, many of the same folks that wanted them later decided those same ideas were not good after all. No. It's true. Some Republicans did have some good ideas. Even if they did deny it later. The thing is energy and environmental legislation is just as important as healthcare, even if fewer people are interested. Global warming is happening, or if you're not so sure, or even if you're sure it isn't happening, doesn't it make sense to hedge your bet? So if you're going to hedge your bet, doesn't it make sense to do it in a way that will create thousands of good paying jobs? Especially in a high tech industry that the rest of the world is already rushing to take advantage of? Some folks say it will cost us more by driving up the cost of oil. Think back to when there was a big spike in gas prices a couple of decades ago. So what happened? The Government started to push for alternative energy sources. So, what happened? OPEC dropped the price of oil to squash such talk. You think they can't or won't try it again? It's all about money. If OPEC thinks we're cutting into their profits, do you think they'll whimper or slash prices? Just don't get in the way of that knife.