Showing posts with label finance. Show all posts
Showing posts with label finance. Show all posts

The Motley Fool's Rebuttal of the Latest of Krugman's "1938 in 2010" Twaddle

Historical government spending in the United S...Image via Wikipedia
Who you gonna believe? Some professional investors or a professional Keynesian? I'm going with the capitalists, and not the sour-faced NY Times columnist. (Note: bolding and links are mine.)

Krugman wrote another Op-Ed about his favorite subject "1937".  The year when the Fed Gov't cut back some spending and the economy faltered.  I've disputed this ludicrousness before, stating that if EIGHT years of spending didn't fix the problem, when in the hell is all this spending supposed to work? Let's also not forget that in 1934 the dollar was devalued by 50% and THAT didn't work.
In this particular Op-Ed he goes further, stating "From an economic point of view World War II was, above all, a burst of deficit-financed government spending, on a scale that would never have been approved otherwise. Over the course of the war the federal government borrowed an amount equal to roughly twice the value of G.D.P. in 1940 — the equivalent of roughly $30 trillion today". 
Pro-WWII end recession/depression economist LOVE to point out that huge spending on a massive scale ended the Great Depression.  I've spoken to many of these people before and asked them EXACTLY when this massive spending ended the Great Depression. There are only two answers: 1) When the war started 2) After the war ended
Let's tackle #1 first (When the war started).  These are the scariest people in the world today, because they don't believe in freedom in the least. 
You'll need to visit the site for the whole thing. More at the Motley site.

-jR
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Spendalot: Economic small 'hope' and spare 'change' for the new inflation to come

There is a new term that I wish to share,   my new name for the Obama Administration. It has little to do with efforts of "saving the economy", bailing out banks or GM. It has to do with the budget, and the holly-jolly engagement with inflation that the liberal White House and Congress seems to be sending our country to, with all this spending and the taxation and further expansion of government to come.

Often people invoke comparisons of the Obamas to images of John Kennedy and wife, for their youth, presumably. We called JFK's administration Camelot, which was a favorite musical of JFK, and somehow it was a fitting definition of his generation-changing entry into the White House, thought it was very corny if you really think about it.

What comes to mind nowadays when I think of Obama is the late Robert Goulet, in his portrayal of Sir Lancelot in the musical Camelot. Except, he's instead an ironic cameo character, in a comic bit. The bit's name? Spendalot!

That is my nickname for Obama's White House: Spendalot.

Contrary to the JFK-Camelot budgetary outlook, and far more moderate political perspective, I say to hell with Spendalot's brand of so-called "progress". If -- big IF! -- it bears the fruit of bona-fide economic invigoration, I'll be among the first to admit I was shortsighted. I don't weant to make excuses for why a success was actaully a failure. That's not what I want. Some successes are on the backs of those who benefit nothing from it, though. That's what I will be responding against. Inflation, weakened state of U.S. to favor other states. I think the only way a nation can reasonably help others is in a position of strength. How else?

There's only so many ways one can play on the theme of economics, short of hitting stop and reinventing the thing, before it all becomes essentially fatal to millions of people who must use money to buy things to live. Spendalot seems terribly burdensome, and terribly anti-business, to me.

We lack economic growth, and that means we are weakened. So we are going to print more money, thus weakening it -- in the short term, or will it create severe inflation? Spendalot is creating a very steep budgetary deficit. So are we going to eventually redefine the country's money -- or the world's as the Chinese have already floated. Money's funny this way: more money you print, the less it is worth. Economics is a human-invented thing, but that does not mean it is not a sort of entity on its own, that reacts to the environment. Inflation is survivable, but when you're something that the whole world hinges its economic activity to, which is what the U.S. surely is, then you need to be a bit careful, lest you spin the planet into a world at war. Tough times inspired WW I and WW II, easily. Nazis took charge in a time fo great strife in Germany, after the loss of WW I.

Spendalot seems to play to both sides, to our detriment: apologizing for American arrogance (since GW, intentionally or not, made us out to be arrogant, or like a bull in a china shop) and inventing words like "mad-made disaster" (a stupid PC phrase for "terrorism") on one end, pushing other nations to share troops and spend their money with us on the other (c'mon, let's all risk severe inflation so it won't feel so uncommon to Americans).

Either other nations can expect us to be merely the lead dog on many fronts, or we simply give up and pretend we are not the lead dog anymore, thus making it so. We are not -- NOT -- yet an insignificant nor a dead economy, not by far. In fact we are still a massive piece of the world's wealth, no matter how people "feel" about it. Reality pleads that we stop acting like it's all over for the U.S., or it will be all over. The less rationally we think it through, the closer we are to being a has-been, and not a preeminent up-and-comer. Perception can be reality, so it's a shame if the overall economic graphs are more rational -- relatively -- than our perception of the economy, isn't it?

A bad economy hits some very personally, with job lesses, income loss, retirement loss -- we have every right to be ticked off, too. But our personal feelings are not the world reality. Don't just imagine that the U.S. is a mere part of the whole world economy. We're a huge chunk of it. That's not arrogance, that's realism. We consume more, we provide more, we are busy busy busy. Meanwhile, millions live in dirt houses in China.

Ask yourself how many a nation came up with 1000% inflation in the past, from many South American nations, to Israel, to ... well, likely there's a long list of African nations, and several European states, too. How did that happen? Do better than asking yourself, look it up.

This massive, overarching Spendalot "budget" --more like a massive government-expanding bill -- and the inflation to come will not be the hope and change wished for by anyone but those who adore power and the status quo over everything else.

I am sure, come 2012, that
Spendalot will still be blaming GW Bush for everything. Spendalot will be held up as the answer to everything, simply if the economy turns around at all. He will be aiming for the lowest common denominator for avowed voters, misleading them with bogus words of aimless positiveness as he did in 2008. This was less about hope than race, and white guilt; it was less about change than it was about anger against the GW Bush White House -- even over things that they were only one hand of many, like the economy, the Iraq invasion and governmental upheaval, the mortgage meltdown, etc.

Whether or not Spendalot's tactics work as well next time as they did in 2008, there's plenty of room to wonder but there's little reason to jump to conclusions. But there is no time to wait, no time for the GOP to wonder -- they need to get off their duffs and make progress or they will lose again in 2010, and possibly 2012, too.

Conservatives cannot win by being the ignorant opposite of ignorant liberalism. They cannot win out over mindless openness and utopian wishing unless they DO SOMETHING. Ronald Reagan's plainspoken, clever, and well-informed, reasoned tactics up against the USSR, Newt Gingrich's intelligence and ability to debate -- these are some of what the GOP, and Blue Dog Dems, and small government moderates, need to tap. There's no more USSR, but there are people who resent us everywhere. Even Spendalot's apologies do little to improve the world's view of America. Iran is going nuclear, Korea is launching missiles, and America is being looked at as just another player in the international game. I think we're fools is we simply accept that kind of thinking. Not because I want America to be the biggest kid on the block, having to jump into the fight, but because if not us, then what country? WHO?

If conservatives and moderates simply complain, refuse to compromise, react with invocations of mere punditry, or simply keep tossing out the socialism bomb towards the liberal desires for government-controlled education, health care, and markets, then they will not win anything in the few years that lie ahead. We aren't trying to convince those who believe in small government of its merits, but those who think government is their friend that it is, in fact, the burden to the people, not the solution to our ills.

What will win is realism that is supercharged by evidence of governmental failures and decent plans for how to fix them. It cannot be won through Christian conservative rhetoric (much as I follow Christian ethics, these are a complement to, and no replacement for, down to earth facts in order to make policy, and write bills). They need to start soon. Now would be better than next month.


- jRuse, aka AirFarceOne (on Twitter)

Sen. Dodd's reelection bid embraces his, umm, success with banking

From the Political Hah! Dept.:

Chris Dodd’s Comeback Slogan: ‘Banking on Change’ - BrianFaughnan’s blog - RedState
So what’s Chris Dodd’s plan to save his lucrative government gig? Remind people of his spot on the Banking Committee [link to RollCall article]:
Sen. Chris Dodd (D-Conn.), facing increasingly difficult odds in 2010, is spending the two-week recess barnstorming his home state to try to improve his political standing…

The appearances are part of a series dubbed “Banking for Change,” meant to highlight Dodd’s work on consumer protection issues as chairman of the Senate Banking, Housing and Urban Affairs Committee.
Seriously? [link to Dodd's site]
If Dodd manages to win this time around, having proven what a terribly self-interested boob he is -- and it appears that Conn. voters are even less cerebral than Mass. and West Va. voters (Ted, John Kerry, Barney, etc.) -- it shows just how much work that sincere, dignified conservatives and general non-cretins will have to get through to try to recover some sway in D.C. That is, to clarify, there is a lot of work to come for people who believe in simple things:
  • smaller government,
  • a balanced budget,
  • power to the actual people (not their elected king by proxy),
  • peace through strength,
  • America still is (stuck or blessed as) the leader of the free world and should act like it,
  • despising mistreatment of people here but giving passes for mistreatment of "groups" elsewhere is absurd
  • liberty, freedom and the pursuit of happiness don't equate with living in a welfare state
  • we have the biggest guns, and we don't prefer to use them, but we damn well will
So, cut to the chase: Get the pitchforks, effigies, tar, feathers, and torches ready. Just like the good old, pre-Revolutionary War, days.

- jR, aka AirFarceOne (Twitter)



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EU chief deems Obama economic moves the 'road to hell'

Moneynews - EU Chief: Obama Plan is Road to Hell
The head of the European Union slammed President Barack Obama's plan to spend nearly $2 trillion to push the U.S. economy out of recession as "the road to hell" that EU governments must avoid.

The blunt comments by Czech Prime Minister Mirek Topolanek to the European Parliament on Wednesday highlighted simmering European differences with Washington ahead of a key summit next week on fixing the world economy.

It was the strongest pushback yet from a European leader as the 27-nation bloc bristles from U.S. criticism that it is not spending enough to stimulate demand.

Shocked by the outburst, other European politicians went into damage control mode, with some reproaching the Czech leader for his language and others reaffirming their good diplomatic ties with the United States. The leaders of EU's major nations -- France, Britain and Germany, among others -- largely ignored Topolanek and his remarks.
What can we expect? For every time he seems to show some rationale for the U.S. that is successful, he either does something, or someone reminds us in strong and blunt terms, just how obstinate BHO can be. In light of this, too, the Openness-in-Chief, the "TOTUS" isn't reproaching world currency ideas flaoted out there, is he? Not that I have heard. How very disappointing.

It irks me, the reserve to defend what's American on so many counts, by this president. Write off the U.S. dollars' once and future (if there is a future!) strength... it's untoward to act like we're still stronger on all counts than any other nation and able to be caretaker of freedom and capitalism and markets. Let's just give it all up now, while WE HAVE THE CHANCE, in light of the deep recession. Is that the thinking? I hope not.

It is too soon for the Earth of Star Trek, with a world-governing council, planetary "credits", etc. Too many ideologues with deep desires to kill innocents for their god or their power. In other words, to keep with the Star Trek theme, Earth has its own Vulcans, Klingons, Romulans, who are interested in harming others, despite overtures to Iran and others by Ms. Clinton and friends.


- jR, aka AirFarceOne (Twitter)



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Treasury Sec fills in reporters on toxic loans plan... aide tries to embargo all that

What stunt is that, then? An embargo was attempted on a chat, which was with reporters in closed quarters, by the Treasury Sec AFTER the chat was finished. Plausible deniability of some sort? Or was it just some dumb bureaucrat trying too hard to shove people around -- not the Sec, but the press aide? Political theater, or just stupidity?

Balance of Power - Geithner Fills In Blanks of Latest Bailout . . . Off Camera - CQ Politics
[Treasury Secretary] Geithner stayed on message and appeared Obamaesque in his cool, confident demeanor. His staff was a bit more antsy, though. As the hour-long briefing concluded, a press aide tried to retroactively put an embargo on the remarks, meaning journos would have to observe a delay before reporting Geithner's comments. Many in the crowd -- a bustantial number of whom had been live-blogging or Twittering -- simply laughed.

"Too late," said one attendee. "It is?" the flustered aide replied.
I guess that's because this current Administration is so attuned to current technology. Unlike Mr. McCain, who if you haven't heard, was not enamored with using keyboards or email (damaged bones from POW torture make it hard to use a PC, perhaps). Or, maybe they are not so aware of current technology. (After all, the Obama Twitter account has not been touched since Jan. 21, 2009, for instance. I guess that cool for a campaigner to attract the young, pliable ones, but not for a Campaigner-in-Chief.)

This, below, is essence of what Treas Sec said, as far as I'm concerned.
Geithner sat at an unadorned conference table in an upstairs conference room with a bottle of mineral water and explained to about 100 reporters how the administration hopes to reinvigorate the financial system without actually taking over any financial institutions. The key is offering private investors low-cost loans from the Federal Deposit Insurance Corporation and the Federal Reserve. A fact sheet distributed by Treasury aides showed how a private investor could acquire $100 worth of bad assets by ponying up as little as $6. The government would match that initial investment, and the the FDIC would cover the remaining value.

Geithner predicted a wide array of investors -- including pension funds, insurance companies, hedge funds and even individual investors -- will flock to the program. He ruled out more dramatic steps, such as turning the government into an owner of the troubled institutions. "We are the United States of America. We are not Sweden," Geithner declared, referring to that country's response to its early 1990s banking crisis.
Well, all my respect to the good people and country of Sweden, but thank God for that piece of real hope from the Obama Administration. I think there is a lot of noise going on, people accusing Obama, across the board, of socialist tendancies. The fact remains that we have, by definition but not governmental model, socialized companies. Gov'ts owning companies equals socialism. That's kinda one huge part of it. That does not mean we are joining Sean Penn's friends in Cuba and Venezuela (but don't tell Penn that, he is liable to punch someone).

They tried to embargo the chat after the fact, so what the heck might that preempt? A bit paranoid, perhaps, to think the "ObamAdmin" might try to eject any words spoken, since they attempted to "post-embargo" the chat, but this is the group that keeps reminding us -- and less offensive from them but Congress tries to claim it, too -- that they inherited this mess.


- jR, aka AirFarceOne (Twitter)


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Year 2000: Madoff scam was uncovered


You think the Bernie Madoff scam is a surprise?
Nope. It was just a surprise to his investors, since the SEC ignored repeated input about the guy's scam. It was not a surprise to anyone who cared enough, or was simply smart enough, to bother to look at facts. One smart guy actually tried to do something about it and was thoroughly ignored by the SEC. Why was he ignored? He tells the tale.

In short, lots of people know how to succeed, they have money to invest. Many have no commonsense grasp of, or any education in, investing, so they leave it to others. Madoff was among those who people trusted -- he was once chairman of the NASDAQ exchange!

Some folks simply cannot visualize what is possible or credible in investing. Some cannot see for themselves what is either screwy tricks done via poor lawmaking (many mortgages and highly "creative" financial concepts come to mind) or impossible dreams dressed up as a viable reality.

Harry Markopolos is just one of the ignored people who have been pointing out the OBVIOUS for many years. His big difference is that he made official moves, which makes him honorable, indeed. It also makes more vacuous the lack of REAL regulation over the "greed" industries: mortgages, stocks, hedge funds, derivatives, commodities.

Why do I call them "greed" industries? If you have to ask, then you don't really understand what the finance industry has to some degree been peddling over the years. There are a wide variety of viable investment ideas out there, and if folks fog over in any discussion of how investing, or money, works, then they are easy targets. It's sad, really.

When one talks of a bubble bursting in financial markets -- and in 2008 there was a few massive bursts -- one talks of overblown assumptions about the markets being dashed by a heavy dose of REALITY. Watch the CBS News 60 Minutes video, linked, with that in mind.

The Man Who Figured Out Madoff's Scheme - CBS News
It has been two and a half months since Bernard L. Madoff was picked up and charged with what is believed to be the largest financial fraud in history. Yet we still don't know much more about the alleged $50 billion scam than what Madoff initially told the FBI agents who arrested him.
Watch the video:

...
Until a few months ago, Harry Markopolos was an obscure financial analyst and mildly eccentric fraud investigator from Boston who most people would never notice on the street.

But today he enjoys an almost heroic status, pursued by journalists and movie producers, and honored by colleagues as the man who went to the Securities and Exchange Commission and blew the whistle on Bernie Madoff and his $50 billion fraud.

But he seems uncomfortable with the attention, and knows that he is no hero. "I stand before you a 50 billion dollar failure," he said at an event.

Asked how many times he sent materials to the SEC,
Markopolos told Kroft, "May 2000. October 2001. October, November, and December of 2005. Then again June 2007. And finally April 2008. So five separate SEC submissions."

"And in spite of all of the things that you did, it still ended up in disaster?" Kroft asked.

"There's nothing to be proud about in this case. I feel horrible about the result. It's been a total disaster for the victims," Markopolos replied.

It began a decade ago, when Markopolos was working for a Boston investment firm. His boss told him that Madoff, a former chairman of the NASDAQ stock exchange, was running a huge unregistered hedge fund that was producing incredible returns. He wanted Markopolos to reverse-engineer its trading strategy and revenue streams so the firm could duplicate Madoff's results.

"He had the patina of being a respected citizen. One of the most successful businessmen in New York, and certainly, one of the most powerful men on Wall Street. You would never suspect him of fraud. Unless you knew the math," Markopolos told Kroft.

"I mean, you're like a math guy, right?" Kroft asked.

"I've taken all the calculus courses, from integral calculus through differential calculus, as well as linear algebra. And statistics, both normal and non-normal," Markopolos said.

Asked how long it took him to figure out something was wrong, Markopolos said, "It took me five minutes to know that it was a fraud. It took me another almost four hours of mathematical modeling to prove that it was a fraud. "
For my point of view, this fellow underlines just what exactly went wrong with financial market regulation, not just of the SEC, but with regard to responsible finance practices all over the place, including mortgages and mortgage-derived investment packages. Our lawmakers fell down on the job, our regulatory agencies, our professionals in the industries -- they failed us.


- jR


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Dumb butts win: Many who played by rules see unfairness in economic recovery tactics


Bailout lament: What about me? - The Boston Globe
"What about people like me who are playing by the rules, who got a mortgage we could afford?" said [Brian] Carpenter, 52, who programs building management systems for MIT Lincoln Laboratory. "Maybe I'm too old school, but you sign on the bottom line, and you're responsible for it."

Carpenter is among the vast majority of Americans who work, pay mort gages, borrow responsibly, and now find themselves facing the bill to bail out those who didn't. Over the years they lived within their means. Now they're asking: What for?

He sees the federal committing $1 trillion to bail out banks and struggling homeowners, and nearly $800 billion to offset economic damage caused by reckless lending and borrowing. What's in it for him?
Well, clearly, this "Carpenter" guy -- if that is his real name -- is part of the problem. He contributed to the reason why the global economy is in a slump. He probably voted for John McCain in Nov. 2008. No doubt, he supported GW Bush, the worst president this nation has ever had, ever. He was happy about that needless spending on Homeland Security, the Middle East empire-building, waterboarding a million innocent small boys with brown skin in Iraq and secret prisons all over the world, depriving everyone but Dick Cheney their civil rights. Surely, this self-thinking, self-responsible jerk thought all that war mongering was totally awesome! He's probably in that camp that is angry that more Iraqis haven't died!

Had "Carpenter" been like the regulators, the high-risk banks, the investment managers, hedge fund managers, mortgage companies, the Congressional financial leadership, FMA, FHA, subprime mortgage holders, etc., over the years, he wouldn't be in this spot! He'd be getting money, not losing it! If he played along maybe he'd be getting a piece of the pie!

I hope this stimulus teaches you, Mr. Carpenter! Your RESPONSIBILITY created the mess you're in. Maybe next time you'll go along with the greedy, self-centered, politically motivated, and irresponsible flow and stop being so rational about things! If you get more progressive, as defined by MoveOn.org, Think Progress, ACORN, ACLU, and the top Democratic congressional leadership, you wouldn't have such as hard time about having to think so much, you could just agree a lot, like all those satisfied subprime mortgage customers. After all, you're not important! You're just one man. Let others handle all the thinking for you next time. They know better -- bankers, politicians, secretaries of dead Nigerian government ministers who contact you by email. Trust them all and you'll feel better!

I hope this teaches ALL of you overly individualistic, self-thinking people who refuse to ignore basic logic and accept what others tell you what makes sense. I hope you will pay attention next time someone tells you that living beyond your means is the only way to live, that pop musicians and actors are the most logical people on earth, and we ought to have only one party in this country that runs things. I hope you will, now that you've been shown how dumb it is to be RESPONSIBLE, that you will listen when someone tells you something like "I'm your mortgage advisor, I'm only here to help you."

I mean, what fool wouldn't listen to advice based on government laws built on illogical economic reasoning and greedy financial dealings? What fool would ignore the fact that once you vote people into office, it is their God-given right to tell you what to do?

I just wish you RESPONSIBLE people would snap out of it and let the government tell you how to do everything! If you would just trust government -- and by government I mean Obama, Reid, and Pelosi and their flying monkeys, not those irritating governors or Republicans -- you would be so much more better off!


- jR


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Zell Miller, 2002: tax cuts should be a Democratic Party staple!

Full circle, that's what the election on November 2008 was -- a tilt around the bowl from success helped by Sept. 11 and appearing strong, and nothing less than tax cuts. Go figure!

In bad times, when the population is pissed off and willing to vote about it, impressions mean everything. When it comes to bad times and how well one can accuse the other side of being the cause of all our ills, the Democrats, make no mistake, won on rhetoric and the coolness of Barack Obama. The 44th president was not the reason for all the Congressional successes, the bad economy, which was blamed on GW Bush, was.

You can disagree, but I'd love to know just what the arguments are. I cannot see how, really, that this was about anything but voting, loudly, with our wallets (and some resentment of those with fat ones, especially the fat ones in pocket of finance industry white collar crooks).

Here's an interesting bit of commentary from one Democratic senator, in November of 2002. This was just after the Democrats were trounced in the "off-year" Congressional elections. The words are Sen. Zell Miller's. They were originally in the WSJ, but link below is from another site, CFIF.org, a political action group that I was not quickly able to gauge as liberal, conservative, or somewhere else (so I will leave it as "non-partisan"... as they claim).

And now, folks, Zell Miller:

Tax Cuts: Our Party Needs To Embrace Tax Cuts
...why in Heaven's name can't our party be for real tax cuts? In the middle of a recession, the Democrats once had a president who passed a massive tax-cut package. His name was John F. Kennedy. Today, in the middle of a recession, we should be a party advocating for more tax cuts, not less. But we aren't.

America is the most tax-averse country on earth. Our own revolution started with people tossing tea off boats in Boston Harbor … because of high taxes! Being a party that opposes tax cuts is not good politics, anywhere, any time. Like it or not, that's what we've become.

Instead of arguing that Mr. Bush's tax cut goes too far, we Democrats should be arguing that it doesn't go far enough. Middle-class families need more tax relief now as America faces an economic threat we haven't seen since the 1930s — the threat of deflation.
The words of a Democrat, a mere six years ago.

Interesting times.


- jR (AirFarceOne)



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2010 elections: Time for change we can believe in is still to come


In reflecting on the pathetic, awkwardly funny disappearance of the age Florida hedge fund manager Arthur Nadel, I realize that the change is not yet complete.
After all, Congress has the same horrific, at times supremely arrogant, leaders that it had for the past two very decisively bad years for our economy. What did they all do, almost to a person? They blamed Bush and his Administration for all of this. Excuses, excuses.

It started with Clinton's era,
and the Dem, then GOP, Congresses of the time. It continued into Bush's terms, and for some mad reason even the supposed fiscally conservative GOP let the crazy mortgages survive when they could have stopped them -- obviously, since their friends in finance were getting rich off the crooked concept of CRA loans. Then, even when it was OBVIOUS that the economy was broadly slowing down, this robbery thrived while Barney Frank insultingly balked -- like a mean grammar school teacher -- at those who told him, in public meetings, that we needed a tightening on CRA mortgages and other financial matters.

So, thanks to all of our leaders who could have gotten some control over the financial meltdown up to two years ago, or could have ended the illogical CRA mortgage "plan" ages ago. You've failed us. So stop pretending you're going to fix it now. You're too comfortable or too foolish to truly manage to fix it, I fear.

Time for the "Obamatized" change is not yet active. There's the 2010 election in our sights. Some will never change: too bad Connecticut and Massachusetts, to name a few, can't help but elect the same blowhards over and over again. Too bad the Dems couldn't pick a real leader for either half of Congress (they couldn't even if they did it behind closed doors in a secret ballot, I suspect) -- they appear too happy with average people who are elitist dullards, like Pelosi and Reid, as leaders. After all, Pelosi was selected leader once again, just recently, though her Congress is the least popular of all time. Its popularity plummetted concurrent with her reign. No coincidence, in my estimation. She's simply too beauty queen populist to believe that any of it is her fault -- it must be merely a sign of the times, after all, since Bush is the terror in all of this. Hypocrisy is alive and well in Washington, folks.

It is they who created and let thrive the pathetic old monsters such as Madoff and Nadel, and the CRA mortgage companies, and all the Wall Street greedmongers who robbed while the robbing was easy (and quite legal, by accident, seeing the lack of actual regulatory effort by our government). It is you who are now letting them all simply step away from the card table quite wealthy, cards still stuffed in their sleeves, for fear of the house of cards falling. It is the government wave of irresponsibility that has let them leave Wall Street for their cozy winter homes, except for the rare imprisonment or the recent, and the future, suicides and "disappearances" (I wonder if these last ones are at all out of guilt, or simply out of mad selfishness?).

We have yet to address the full weight of our anger. There is still 2010 to finish the job, and to motivate any good leaders to find a way -- through the dull flow of political maneuvering or by going around it -- to put out for the night the ferile cats who screwed us all. There is still an election in 2010 in which to remove more garbage from the Capitol steps.

- jR

Arthur Nadel: I've gone stark raving Madoff


Flying the coop is generally a sign someone was a crook of some sort, even if there were no regulators there to see it.

Florida man suspected of running Ponzi scheme - Business - MiamiHerald.com
Around the same time he mysteriously vanished, hedge fund manager Arthur G. Nadel owed a $50 million payout to some of the investors who had entrusted their life savings to him, an accountant said Monday.

Instead, they learned their money was gone -- and now they're left asking if it was all a bad investment, or if they were scammed.

The search for Nadel entered its sixth day Monday as more investors contacted authorities with concerns their savings, and Nadel, were gone forever. Nadel's green Subaru was found in a Sarasota airport parking lot on Jan. 15, and he left his family a note in which he appeared to be ''very distraught,'' said Lt. Chuck Lesaltato of the Sarasota County Sheriff's office.

Since being a criminal and being a hedge fund manager are somehow NOT the same thing, legally, I guess Nadal, Madoff, and the like, are helping us all by maybe, just maybe, giving government an idea that hedge funds, and hands-off ideals about financial services are a bad idea. This attitude was virtually UNIVERSAL in Congress (both GOP and Dem) and, seeing that the GREED factor attracts many people to fishing for other people's money for a living, for starters, it is the most obvious mistake in governing since Ebonics was being considered as a subject of educational instruction in our schools.


- jR

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All hail the Mexican billionaire: news media to plummet farther, NY Times goes first


The Times to get their own bailout. From Mexico. Is this a Peter Sellers film I've not yet seen, or what? 

New York Times may find benefactor in Slim | Reuters
The New York Times Co has heard more than its share of opinions on what it must do to survive. Mexican billionaire Carlos Slim appears ready to let his cash do the talking.

The 68-year-old telecom tycoon, ranked by Forbes magazine as the world's second-richest man with $60 billion, may pump hundreds of millions of those dollars into the Times Co.
I SUPPOSE this is because his money, and plenty more of it, is not needed in Mexico, where everyone is wealthy and enjoys a good economy, reasonably safe neighborhood. Who knew? Well, I guess those stories of Mexico plummeting into a nether-world of battles of police versus drug gangs, especially near the U.S. border, were just propaganda. 

Slim is the second richest man on earth - ON EARTH! Indeed.  Glad to see his own country doesn't need the awesome usefulness of his huge bags of money. I had no idea how well the infrastructure improved in Mexico in the last week, and how economically stable Mexico was! On the other hand, I guess he's already applied his wealth where it is needed: keeping the impoverished where they belong, like a good crooked capitalist in a grandly crooked political system that poses -- far more laughably than most -- as a "democratic system."

Here's a fundamental question: how exactly would someone become the SECOND WEALTHIEST MAN in the WORLD in Mexico? Seriously, how? Mule sales? Earthquake insurance? Drugs? There's a lot of world out there, and this guy pulled off second place on the richer scale (grin) from creepy, dangerous, unkempt, corrupt little Mexico.

Go ahead, look the other way, NY Times. You're good at seeing one side of a story! Take that cash in one hand and proclaim appreciation for "progressive" policies on your pages. You get Slim's money to hang on like a bloated U.S. auto company, and the U.S. at-large gets Mexico's troubled citizens, for any reason, like a painfully trickling Mariel boatlift. 

Illegals are like a box of chocolates: you never know what you're going to get. Once the plans are complete, the "progressive" plans, the U.S. will appreciate how crooked Mexico is, since for the lower and middle classes it will be in the same condition as Mexico by the end of Obama's first administration, if the far left has anything to do with it (such as Harry Reid and Nancy Pelosi). You go, NY Times! Let's hear it for the master of so-called "progressive" journalism.

This is the NY Times -- please turn off the irony -- which ran front page stories about a non-affair by John McCain back in 2008 which was based on totally unfounded rumors. Meanwhile, it buried news of completely strange and questionable issues about Obama as much as they could manage it. Regularly. Repetitively. Often!

This paper, once held at the top of journalistic high regard, not just a place for highly intelligent, nonobjective writers, and for politically wrongly categorized commentators such as David Brooks, is going to be bailed out by a proclaimed telecom tycoon? 

Wow. That just ... that really ... that simply underlines how sad news media is today. Sad. Very, very sad. We've gone from conscientious and overt, to TV reporting and the selective nonobjectiveness of Ed Murrow, to the knee-jerk, one-sided reporting that is pervasive in much media, to being bailed out by Mexican business cretins. What's next? Reporters simply shooting the people who disagree with their editorializing? 

What a waste of paper. 


- jR

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Chavez not dropping oil program, but the way to pay was questionable


Chavez says US heating oil program never suspended - Americas AP - MiamiHerald.com
At a news conference, however, Kennedy said Citgo made it clear the decision was not a cancellation of the program. "But at the end of the day, the tankers are not going to be in front of this building," he said.

Citgo Chief Executive Alejandro Granado later said in Boston that the company had found a way to continue paying for oil shipments.

On Saturday, Chavez poked fun at analysts who said he was cutting the assistance to make relations difficult with President-elect Barack Obama, saying they made him laugh.

"They build this analysis on a lie," he said.
I still hold to my anger that a U.S. oil company, and a nonprofit, and our country, cannot buck up and cover this and tell Chavez "thanks, but no thanks." As I wrote a few days ago in this post: Like, Totally Political, Dude!: Chavez dropping oil program for U.S. poor, who's to blame?
It seems rather unbelievable that the same thing was not possible through anyone else, that this was even an option for Chavez to use -- ironically, it did some good. I don't like the power-happy guy, as he's religiously self-lauding and stunningly arrogant, but I cannot dislike his doing as he did.

You should recognize that the oil for poor program is a perfect, and self-serving, way for Chavez to appear to be a benefactor to U.S. poor. It is only honorable on the face of it. If I rna everyone's lives, this is the least I would do. But I do not, fundamentally and wholeheartedly, believe in any system where one-party, one dictator rule serves the greater good. On the whole, it does not. It is a simple truth. Those who wish to live in such a system are welcome to. Don't even address it in this country -- this country is and God-willing will always be about ridding the world of stupid people with stupid ideas like dictatorships, fascism, communism, and socialism. People will still try, and it might make for insteresting reading (Karl Marx did well with it) but it isn't a system that can properly fix itself. Our is dangerously close to being an elitist-ruled country that cheats the poor for the good fo the rich, we can't fix that with socialism. Not the answer.

There has never been any good consistently carried through in a country that was ruled over by one person or one party. The USSR was a disaster. China is still, more than not, a screwy, impoverished backwater. Europe is full of nations that are struggling under the weight of their too-generous welfare-type programs, leaving not enough room for helping when a crisis hits. Why do we want more of that in the world?

One ruler nations run the great risk that individuals are limited throughout. Ass-kissers excel in dictatorships. I hate ass-kissers. We have lots of little dictatorships -- companies -- in America. I don't like that kind of company, or even one office of any company, and I don't like that kind of nation. Such systems are effective for killing inventiveness -- thus why many sectors in the U.S. lack ingenuity these days. It is that simple.

As for nations, any socialist leaders ever came to power through manipulation and exploitation of the poor. They pulled down the educated and many highly effective people, ultimately making the country, on the whole, less than it would be under a free society sort of leadership. Look at Cuba, for crying out loud.


Chavez is an ultimate arrogant politician. That is a simple fact. I am glad he is not the ever-loving-the-killing Pinochet or similar autocratic South American socialist-communist. He's only politically dangerous to a free, liberty-loving, democratic society. For now, at least.

But this shows the gritting teeth underneath the smile of the supposedly concerned oil and other wealthy leaderships of the U.S. They all ought to be put to task for leaving such a basic and obvious hole opened for Chavez to serve our poor.

I can't fault Chavez for this -- I fault us for being to uncreative to squash his ability to do this BY DOING IT OURSELVES.

Shame on the rhetorically wealthy oilmen in the U.S. who, along with their snob friends, choose to argue that the poor, uneducated, struggling and fundamentally overlooked in this country ought to just get off their duff or they deserve to freeze throughout the winter. Social conservatism fails completely when it enters the realm of choosing to not create a clever way to afford to help the tragically poor to get through the cold winters that half the nation faces


- jR

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Pelosi's 'bipartisanship': Excludes the minority party and new Congress members


Somebody needs to get House Leader Nancy Pelosi a dictionary, so she can look up a few words, like "bipartisanship," "merit," "liberty," and "democracy." I am amazed at how especially liberal politicians think they have the right to legislate out the gamut of influence, and legislate in the autocratic ideals of seniority over credibility, claiming that the closed-minded policies they are trying to set are to prevent their own superiorly "diverse" politics from being closed out by the other guys -- the evil, mean-spirited conservatives. Gag.

Here's what's so absurd about the things Pelosi is working toward (see article and all the links below): It's one thing, and hardly anyone is against, aid functions for those in need and the privilege challenged. This kind of "liberal" politics is an entirely different animal, and it is creepy. It is not liberal, not progessive, it is legislating one-party rule, and the Democrats actually think they have the right, since they are so much more "diverse" in their thinking. Please.

Pelosi is simply a simple-minded leader. Have a look at this offense.

John Fund Blasts Speaker Pelosi on 'Reforms' - Newsmax.com
The rule changes Speaker Nancy Pelosi is steamrolling through the House of Representatives contradict President-elect Barack Obama’s bipartisan promises, and also fly in the face of Pelosi’s own pledge to “insure the rights” of the minority party.

That’s the view of Wall Street Journal columnist and author John Fund, who documented Friday how Pelosi’s tune has changed in a bid to drown out the voices of Republican minority opposition in Congress.

Fund points out that Pelosi’s new rules sharply contradict positions she took before Democrats came to power. In 2004, Fund says, Pelosi rolled out a "Bill of Rights" to protect the interests of the party not in power.

"When we [Democrats] are shut out, they are shutting out the great diversity of America," Pelosi warned at the time. “We want a higher standard."

One of the ironies of Pelosi’s power grab, Fund points out, is that conservative “Blue Dog” Democrats are among the losers under the new rules because they often lack seniority.

Here's a link and some quotes from the John Fund opinion piece:

John Fund: Pelosi Turns Back the Clock on House Reform - WSJ.com

Every two years the leadership of the U.S. House of Representatives introduces a new set of rules to govern the body. Normally, this event passes with barely a yawn from the public. But the changes pushed through on Tuesday by Democrats will have real-world consequences for fiscal conservatives of both parties.

Gone are term limits for committee chairmen, a big comeback for seniority over merit. Cost containment measures on Medicare, one of the fastest growing programs, are simply suspended for this Congress.

Mrs. Pelosi used to see things differently.
Back in 2004, she unveiled a proposed "Bill of Rights" to protect House minority interests. It called on Republicans to allow more meaningful substitutes to bills, give members enough time to read bills before final votes, and stop holding roll-call votes past the normal 15 minutes. She had a point. In late 2003, Republican leaders held open a roll-call vote on the Medicare drug entitlement for three hours until they bullied enough wavering members into voting aye.

Mrs. Pelosi warned in 2004 that "When we [Democrats] are shut out, they are shutting out the great diversity of America." We want a higher standard." In 2006, just before becoming speaker, Mrs. Pelosi reiterated her plans to promote "bipartisanship" and "to ensure the rights of the minority."

That was then.

Smell that? It's called hypocrisy. Yeah, politicians wear it for pins, but damn, the House Speaker is a true champion of small-minded, narrow and self-assuring ideas.

I can only figure that Pelosi -- flakey Sen. Harry Reid in the other end of Congress, too, for that matter -- became the leader through exactly that kind of thinking on her part and the part of her longtime, long-complacent colleagues, I can only presume. What do I mean? She has no leadership skills beyond talking until her thick lipstick starts to dry, crack and fall off.

She'll have two grand accomplishments thus far as leader if she succeeds with the above: First, she let the deep financial crisis of 2008-09 hit without seeming to grasp any of the long, government-driven, regulation-poor (that's the duty of the legislature, not the White House, folks), developments that led up to it. These issues were as obvious as her mascara, but her eyes were famously those of a deer in headlights at those first press conferences during the insane and latent TARP bill negotiations action. Second, this, the cutting the GOP out of future failures in the House. It's good for the GOP, I guess, so keep it up, Nancy!

Dear California: Would someone in the great state please find some leadership-worthy person who doesn't remind us of the stereotypically arrogant, curt and unfathomably self-assured working mom in the neighborhood who terrorizes the other parents' children with her queer ideas about fairness (her kids get it, no one else)? Please?!!


- jR

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The Democrats don't need you ... but they fooled you, three times

Look at all the blue donkeys!

Top All-Time Donors
See a trend? Look at the screenshot of top all-time donors (below). The story: the Democrats don't need your money!!

Click on the pic to it it full sized. Issue with the pic? See the actual page link: http://www.opensecrets.org/orgs/list.php?order=A

We're going to be entrusting our entire federal government to the Democratic Party if Obama is elected. To put it simply, that sucks. Executive and both ends of Congress run by the Masters of the Lobbyists -- or the Slaves to the Lobbyists, as it were. So, don't expect the lobby controls, the "new kind of politics" rhetoric to result in ANY changes. That would be politically inconvenient for Democrats, most of all.

Fooled you once.

The balance of MONEY is in Dems' favor in more than the prez race of 2008: It is in their favor historically. Yet, they are the party of the common man? Please. The party of BIG CORPORATE and UNION MONEY! The party of -- gag -- the union of state and local employees, for goodness sake. What's that about?!! These guys who work for states and counties and cities can't get fired unless they kill their boss, practically, and they give more money to politicians than ANYONE. So, unlike me, they could buy their job security, and apparently buy the prevention of government shrinkage, it would seem.

Do numbers lie, or is Obama and company feeding us a line? Assuming Obama is our next prez, is government going to expand? Yes that is a question, but WHY IS IT EVEN A QUESTION? It is a dumb question. There is a lack of discussion of this issue of smaller government. WHY? Smaller government is an unpopular idea with Dems -- no wonder!! Look at who sponsors them! So, anyone think government jobs -- expanded government without a crisis motivating it -- won't be the answer to employment woes when Obama gets in?!! Anyone?!!

Seeing as the Dems have generally spent more than GOP whether they won or lost (that's broad stroke, I am not saying every little race everywhere), I am amazed that Bush ever won once, let alone twice. (But then, Clinton's southern aw-shucks rhetoric and Al Gore's true roots, his Beltway roots, were vastly different impressions. Al Gore managed. How'd we do?) Discuss and debate....

It is not for this year, but for the past 20 years...


Surprise, surprise, surprise!
Goldman Sachs, they of course own the GOP and the Bush Admin, huh? After all, good old Treasury Sec Paulson's their guy! Or not. Yes, definitely not. See for yourself. Look at the screenshot, or go directly to this link: http://www.opensecrets.org/orgs/summary.php?id=D000000085

Top Barack Obama contributor
Goldman Sachs dropped almost $800,000 on him. I guess that ruins the whole "the GOP ruined our economy by sucking up to their friends at Goldman Sachs" line of propaganda by the Dems, huh?

Fooled you twice.


Republicans are retiring. how bad will that be?
Since so many House seats are up for election, for a variety of reasons, that is going to change the landscape. It is a year for beating up on Republicans, I suppose because our president is ticking a lot of people off. But, retirement isn't helping things, either.

Retirements have put more than two dozen seats (27 or so) at clear risk for GOP to keep them. Maybe the change of faces will be a good thing, no matter what. Maybe there are going to be some more moderate Dems getting in. That's a good thing. That's not far-left liberals, at least.

Add to that this season of electoral blame-gaming, where the GOP is losing despite the economic problems not really being their fault at all. Republicans are expected to be booted (if they do not deserve it, for some demonstrable reason aside from childish spite, it's not a good thing). Why isn't Barney Frank being asked to leave, seeing as he is the biggest liar we have in the House, currently?

Fooled you three times.


Retiring at end of this session:
Wayne Allard (R) (Colorado Senate)
Larry Craig (R) (Idaho Senate)
Bud Cramer (D) (Alabama District 5)
Barbara Cubin (R) (Wyoming District 1)
Tom Davis (R) (Virginia District 11)
Pete V. Domenici (R) (New Mexico Senate)
John T. Doolittle (R) (California District 4)
Terry Everett (R) (Alabama District 2)
Mike Ferguson (R) (New Jersey District 7)
Vito Fossella (R) (New York District 13)
Chuck Hagel (R) (Nebraska Senate)
Dave Hobson (R) (Ohio District 7)
Darlene Hooley (D) (Oregon District 5)
Ray LaHood (R) (Illinois District 18)
Ron Lewis (R) (Kentucky District 2)
Jim McCrery (R) (Louisiana District 4)
Michael R. McNulty (D) (New York District 21)
John E. Peterson (R) (Pennsylvania District 5)
"Chip" Pickering Jr. (R) (Mississippi District 3)
Deborah Pryce (R) (Ohio District 15)
Jim Ramstad (R) (Minnesota District 3)
Ralph Regula (R) Ohio District 16)
Rick Renzi (R) (Arizona District 1)
Tom Reynolds (R) (New York District 26)
Jim Saxton (R) (New Jersey District 3)
James T. Walsh (R) (New York District 25)
John W. Warner (R) (Virginia Senate)
Dave Weldon (R) (Florida District 15)
Jerry Weller (R) (Illinois District 11)

See the full list online on the "Casualty" list (http://www.opensecrets.org/politicians/casualties.php)

I won't even bother pointing out that, based on their way of doing campaigns, the Dems in particular are not exactly cost-effectiveness heroes.

following the money

Following the Money in the Hot House Races
McCAIN V OBAMA
Expenditures Breakdown - McCain
McCain has been stressing media (as one would expect) and travel costs. Media is not even half his costs. It is about 33%, around 1/3.
Since that's not a big deal, the media has found something else to make fun of.

Somehow, the fact that Palin and her family needed $150,000 in suitable clothes to be in front of the media makes the top end of news for three days, when $1500 suits by man-of-the-people Obama does not take that non-story out of the mix? Gag. We are such patsies. Of course, trying to suggest Obama is an outright Socialist won't work, either. (However, the Socialists do back Obama. Go figure. That's a bit creepy to me -- socialism works in very few circumstances, and beyond those it becomes the USSR, Venezuela or North Korea.)

Expenditures Breakdown - Obama
Obama, with the gobs of bucks from chiefly Hollywood and overseas, has spent virtually HALF, as a percentage and as a dollar amount more than McCain needless to say, on media. Just short of HALF his money goes to MEDIA! Yikes! Talk about buying opinions. This is around 220% of what McCain is putting into media, and it is even far more of a percentage than McCain is using.

A bit ironic, or creepy, that Obama is these days even more of a darling of mainstream, money-hungry media -- he's handed them a hefty $$$ amount in the past quarter alone! $187 million total, which I assume is across 20-22 months.

Obama also stresses salaries -- exceeding McCain's salaries, in dollars but also as a percentage, again. Obama-Biden obviously have a much larger organization, but oddly, while percentage is so high, the overall administrative is not even close to being twice McCain's. How? You won't hear this on the news, but there's talk on the street that Obama supporters are being paid to do what volunteers used to do. And no, this is not the same talk as that from which were borne the weird "Obama is a terrorist" or "Obama is a Muslim" chattering.

Strangely, TRAVEL costs for Obama are more than double McCain's dollar amount. I guess that personal logo-emblazoned jet gets expensive.

Open Secrets is always an interesting read.

Barney Frank: is he just crooked, just lying, or just a sociopath?

I am still wondering why Dem congressman from Mass., Barney Frank, hasn't been accused publicly of pushing on the CRA mortgage deal-making since around 2006, at least, in order to see the whole thing collapse.

You'll notice that Mr. Frank, in front of cameras generally as unflappable as a mob boss, spends lots of time pointing out that he has no
blame in the matter prior to Feb. 2008. He knows this is silly and untrue, but like so many in Congress, he will not be called to blame because those who say he is to blame are likely knee deep in it somehow, too.

It is surprising, though, how much he does in accepting a leadership role in the cleanup, blaming the Bush Admin for the crumbling, when there were several folks from outside of Congress - Republicans, no less - who were voicing the desire to put some controls on FMA, CRA-happy banks and finance companies. Frank was one of those who pushed back, denying there were any issues with the way FMA, CRA, etc., were being handled. I guess being in the leadership, then being the outright leader, of the House Finance committee stresses theory over practical applications of the law, then?

Frank, while Chris Dodd has made himself almost nonexistent for several months, has been working hard to keep up the ass-covering for the past lack of coverage, laying blame all the way back to before 2006, when Dems took Congress control, and after 2000, when Clinton left office. Funny, then, that the legislation went through during the Clinton Admin, and the failure happened during the Dem leadership, despite efforts to effect change by people other than Frank.

He and Dodd, and a slew of others, are crooked, too crooked to realize how crooked they are and how shamefully they've led us to this. These bums need to be thrown out when their subscription to the Congress Clubhouse runs out. Dem, GOPs, I don't care. Those who are on record resisting resonsible oversight prior to the failure of the CRA tugboat need to be taken to task, every one of them. Dodd and Frnk were CHIEF among the culprits.

WHO IS GOING TO SHAKE THEM OUT OF IT? Not folks who read and believe a much from Ms. Brooks' biased commentary.

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Judicial Watch Calls on Barack Obama to Disclose Names of Donors

This is an important piece of news -- I hope I am right, but it gives me the creeps, too.

This stinks -- why doesn't anyone go after the Obama campaign on this?!
This is breaking the law. This is being "above the law". Forget Bill Ayers, forget ACORN, DON'T forget the whole "spreading the wealth" attack!, DON'T let up on Obama for not giving a damn that his surrogates and Democrats attack McCain and Palin as if they are George Wallace (and the similar creepiness), but add this troubling news to the speeches and statements. Worth it, isn't it?!!

THE ESSENCE:
Illegal foreign contributions are flooding into Obama's campaign ... Senator Obama refuses to divulge the names of all of his donors. ... Spokesperson David Axelrod said, "We're probably more forthcoming about disclosure than anyone." ... Not true. ... John McCain has had problems of his own [but] ... McCain does publish the names of all donors to his presidential campaign on his Internet site.

---

Judicial Watch Calls on Barack Obama to Disclose Names of Donors

Written by Tom Fitten

Last week, I told you about allegations of massive voter fraud involving ACORN, a radical leftist organization with deep ties to Senator Barack Obama. (At last count, I believe authorities are investigating voter fraud allegations against ACORN in 14 states. Now, the FBI is also investigating.) But so far, another scandal involving the Obama campaign has flown a bit under the radar. And it is equally disturbing. According to The Associated Press:

Democratic presidential candidate Barack Obama has raised about $3.3 million from contributors who did not list a home state or who designated their state with an abbreviation that did not match one of the 50 states or U.S. territories, according to records provided by the Federal Election Commission…

The $3.3 million total does not include donors who have given less than $200 and whose contributions do not have to be itemized. Some of that money could also have come from overseas. About half of Obama's $455 million in contributions so far are unitemized. The campaign does not identify those donors.

In other words, while the evidence suggests illegal foreign contributions are flooding into Obama's campaign coffers, we have no idea as to the extent of the problem because Senator Obama refuses to divulge the names of all of his donors. When asked about the decision to keep these donor names secret, Obama campaign spokesperson David Axelrod said, "We're probably more forthcoming about disclosure than anyone."

Not true.

While John McCain has had problems of his own for allegedly accepting foreign donations - see Judicial Watch FEC complaint here - to his credit, Senator McCain does publish the names of all donors to his presidential campaign on his Internet site, regardless of the size of the contribution.

Here's the bottom line: The Obama campaign appears to be playing fast and loose with campaign finance laws and it has to stop. The FEC should immediately investigate these allegations. And, of course, in the interest of transparency, the Obama campaign should publicly list the source of every single campaign contribution. Frankly, it is suspicious that these names have not already been made public.

There is something deeply unsettling about the fact that foreign nationals can so easily corrupt our presidential election through illegal contributions, while American service men and women stationed overseas may be deprived of the opportunity to even vote (see above).

---

This needs to enter the campaign speeches, don't you think? To hide the money sources means the campaign is hiding a whole lot more about the money. Why, pray tell, WHY is this only NOW coming out? To add to my shock, I am not hearing about this on TV news; the Houston Chronicle site had a link to it -- the Judicial Watch statement. Where else is it? It should be coming out of the mouths of GOP campaigners, true?

I don't understand the major malfunction -- Obama's campaign is all over themselves about race-baiting this, negative campaign that, and lookee -- for Obama's team it is all about the money. (I don't mean saving our money, either: not watching our tax dollars and the nation's economy.) That's their dirtiest little secret, it would appear.

Secrecy and money are not savory friends. ESPECIALLY in politics. Isn't this a free country? Isn't this a place where politicians have been expected to divulge donors -- for a long time? The cronyism and "boss" systems mostly pushed out for something that better resembles the democracy the Founding Fathers preferred? I know Obama is from the political world of Chicago, but this is not Chicago, but national and world politics.

In Chicago, Democratic influentials have openly have said that they saw great things for Obama and thus kept him away from anything (their word!) "controversial." Oh, boy. Obama has a short-time national career, still hiding from controversy, and then becomes president? Please, no!

He is driven NOT by an ambition to serve, but by BLIND AMBITION. That's it. How else does he get a party to dump a Clinton or a longtime senator like Edwards (the naughty boy : ) ) and throw him up to the top as "the ONE"? He won the primary fair and square, true. But what about the machinations that kept him out of anything controversial in Illinois State Senate? The fog of campaigns: it is like the fog of war. Creepy.

So? Stealing the election with money, is he? In more ways than one, I should note -- mighty expert way that Congressional leaders have dumped the whole bag of the mortgage crisis on the Executive Branch. So, the money crisis and the moneybags are all in Obama's favor, and who's he doing any favors for? We'll never know, since he won't divulge the names of his benefactors to the White House. IF he wins.

Another comment:
Obama cannot win! ... Pelosi, Reid and Obama, this is a triumvirate I want nowhere near tax money! We already have enough problems with taxes and spending. It is time to stop the "war on the middle class" -- but it makes no sense to go from that to a war on reinvestment in small businesses. That's what Obama will offer with his tax approach, which is guaranteed to be the Pelosi and Reid approach, too.



Find it at the site:

Finance, credit cards and capitalism: Free trade or a free-for-all?

Is this what we call free trade, or is it just a free-for-all?

That credit cards, and the whole gamut of lenders, can do the things they have been doing, to everyone's ruin, is wrong. It is not merely unfortunate, nor unfair, but immoral, amoral, and capitalism in its crudest, egregious form. How such behavior can possibly be considered a free market is euphemistic at best.

A free market could be mistakenly defined, in finer print, as one that takes advantage of the poorest and [those who are] the hardest working for the lowest wages: that is capitalism at its worst. If that is free trade, then give me something BETTER than that. A free market would be one that considers all the rational and positive facets of the word "free": free to trade, free to live, free from illicit deception, etc. Free market ought not be defined as one party is free to do any damned thing they please no matter the result on others (including, as in the recent financial disaster, the results that impact all others).


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