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Gene

Sunday, September 28, 2008

What Caused the Economic Crisis - TRUTH HURTS

What did NOT cause the Economic Crisis we are in that caused the Bailout Bill to be passed.
It was not High Oil Prices.

It was not a lack of Health Care at affordable prices.

It was not Global Warming.

It was not because Citizens are able to Own Guns

It’s not because People speculate in the markets

It’s not because of a lack of change, this bailout change we will all feel directly from behind, just below your belt.  Enough with the change already.


Yet, the above is what this campaign has been all about.  Stupid non issues.

What DID create this economic crisis that caused the huge bailout that will cost you, me, your kids, my kids, your grandchildren, great grandchildren, great great grandchildren that will initiate systemic inflation for decades to come the likes of which we haven’t seen in our part of this hemisphere since Mexico in the 1970s. Failed social engineering politics promoted by do gooders and liberals who try to win votes from people with cheap credit was at the heart of all this mess. 

We are in such deep trouble and no one understands it.  People think our troubles are over.  They aren’t.  One thing John McCain is right about, as he said, this is only the beginning, not the end.

The cure is going to be much more difficult and severe.  I have suggestions.  From an economists standpoint.  They will be ignored.  Monkeys are in charge of the zoo.  Republican and Democrat monkeys. 

This means we will all be fed peanuts because they believe that it makes monkeys happy.

I’m not happy.  Welcome to Mexico, OLE.

A Serious Question About Suspending a Campaign

Last week for better or worse, John McCain suspended his campaign for President because he believed as do many others that we were on the brink of economic collapse in the USA.  He did debate but immediately upon the end of the debate went back to do his duty as a Senator in solving the countries problems to the best of his ability.

If he did or did not do any good is not the issue.  He was the guy who put together the gang of 14.  He gets things done, sometimes to this conservative’s chagrin.  I trust that he believed as a reach across the aisle kind of guy this was his gift to America.  I don’t question his intent or efforts.  He is genuinely a country first man.  Has proven it for 30 years plus.

Which brings me to that other guy.  His opponent.  The guy who did NOT suspend his campaign.  Who in the middle of Rome still burning played his fiddle in Virginia and North Carolina while his patriot opponent did the hard work of negotiation and encouragement.

It begs a serious question.  If tragically as happened in Spain before the elections there, the enemies of Freedom decide to equip suicide bombers to blow up or kill several thousand people next week; if that happened what if? 
If images of buildings collapsing; people jumping from to their deaths appear on our news screens; what if?

WHAT IF national security is threatened from without or within, will Barack Hussein Obama suspend his campaign or not?

We just are going thru and perhaps coming out of what may have been one of the most threatening circumstances to our freedom ever conceived in a lifetime and BHO didn’t suspend or even attempt to fulfill his oath of office.

I think it’s a question that must be asked.

WHAT IF?

Saturday, September 27, 2008

‘Growing Kids Satan’s Way’ popular with non-Christian parents

NEW YORK —Since debuting in June 2002, parenting book “Growing Kids Satan’s Way” has become standard reading for many suburban families and could influence a generation of children, say industry observers.

  The book, published as a secular alternative to “Growing Kids God’s Way,” a successful Christian parenting program, has now sold more than the original. “Satan’s Way” teaches anti-virtues such as lying, cheating, self-promotion and infidelity, but despite the sometimes irreverent content, non-Christian parents are drawn to the basic principles of self-reliance.

  “It gives you a roadmap so you’re not just guessing what to do,” says Jim Barleigh, 39, of Raliegh, North Carolina, a father of two who bought the book and went through the accompanying program at a Unity church. He says the unsavory aspects of the book are “all in good fun,” and the general principles helped his daughter to stand up against schoolyard bullies.

  Harper Collins, the book’s publisher, says the book is faring well against stiff competition.

  “Lots of parents were employing these techniques already, but not in a consistent way,” Doug Witzling of Harper Collins says. “This gathers all the ideas in one place and presents them in a logical format.”

This is Parody.  Lark News.  Christians (unlike liberals) can laugh at themselves. Very funny stuff.

Sarah Palin - A Word Please

I make no secret of my admiration for Sarah Palin.  I am hoping she will be our leader for a decade to come.  She’s a rare gift.  If I could speak into her ear I would love to offer a word of wisdom.

Sarah, you need to be tougher on the press.  When Charlie and Katie ask the gotcha questions (and they will), like name 6 things, look them straight in the eye and say, Pop Quiz time eh?  I’ll answer that just as soon as you tell me the 6 major tax revisions I did in Alaska in order of Occurrence.

Oh, you don’t know?  Well I was just a little busy being chief executive officer of the state and haven’t been memorizing everything that my running mate has done in the last 25 years of his noble service to this country.  So, if it’s OK with you I’ll defer answering your gotcha question Katie.

These people are out to get you. Don’t play the game.  Call the slimeballs out.

I’m still angry about the question with no answer (The Bush Doctrine).

Time to get tough Sarah.  Make it on your own merits, pick your battles.  You are a breath of fresh air, you should not be compared to the stuffy eastern establishment.  They gave us the mess that exists on Wall Street and in Washington.  We need you to be YOU.  Your contrast is your strength.  Be strong.

Davey Crockett might have killed him a bar when he was only 3, but you can field dress a moose.  That’s what we love about you.  Katie was in dire need of field dressing.  Not murder.  Just verbal evisceration.  The press will hate you for it.  That’s a good thing. We’ll love you.  It will show you capable of standing toe to toe with world leaders.

Gene’s opinon is as good as George’s

I watched the debate last night like millions of others.  My opinion is about as good as George Stephanopoulos’. 

In the interest of equal time here are a few things I took away from the debate:

  • Hey Barry, John is a senator.  He was when you were still riding your tricycle.  He treats you with respect.  Try being a little less arrogant buddy.  It’s Senator McCain to you. 
  • The war is won.  There were missteps.  John McCain didn’t declare the war.  He went along with all the evidence at his disposal just like Joe Biden and Hillary Clinton in 2002 did.  You are trying to hang a defeat that you tried to engineer around the neck of the guy who almost singlehandedly got Rummy fired and the war won.  What a weasel you are.  The American People know it. 
  • Barry, I checked the ballot.  I didn’t see George Bush’s name on it anywhere.  He’s retiring.  Running against GWB is good politics but bad reality.  Not that it ever bothered you in the past.
  • It’s great that you did a little research so you could name all the people in NATO.  Did your homework did you?  OK.  Would be better if you actually knew anything about these countries rather than have to cram for the exam.  It was really obvious.
  • I looked at ya Barry, Thought about Russia, Thought about Iran, Thought about China. Thought about you sitting eye to eye with them, outclassed comes to mind. 
  • SO, you claim you were against the war in 2002.  You were a Junior State Senator in Springfield Illinois voting Present and trying to find the men’s room when all that was going down.  You couldn’t pay your bills.  Rezco hadn’t yet greased your palm.  You were a nothing.  Still are.
  • You are a self important puff piece who knows how to cram for a test.  You are comparing yourself to George Bush.  The only difference between George Bush and you is he actually did something before he became President.  Ball Team.  Oil Company.  Governor of a state. You’ve done, what:  Community organized and voted present.

You are woefully inadequate for the job. You are Chauncy Gardner.  Glib empty suit.  The story is about you Barry:

Lefties constantly confuse glibness with intelligence (although intelligent people can be glib as well.) Obama is a glib master of esoteric B.S. and nothing more–and what good, ultimately, is esoteric B.S?  Non-existent real, solid accomplishments and little demonstration of the superior “judgment” he constantly claims he possesses in such abundance.

Many years ago a sweet young thing with whom I was semi-seriously involved, in one of our tender moments looked up into my eyes and said: “Are you really smart? Or are you just glib?”

It was at that moment that I realized that I was going to have to drop her like a hot potato–she was far too analytical for my own good….Perhaps that question should be put directly to Obama more often….

In summary, you have nothing to offer Barry,  but clever rhetoric, no experience, no analysis, no wisdom, no perception, no sound judgement, no courage and no moral compass.  You will fool many of the fools and a few of the wise, but the nation is starting to see you for what you are, a Hart Shaffner and Marx size 36 without any net content.

Friday, September 26, 2008

Sarah Palin being Protected from Witchcraft - That’s bad because???

Here is what is supposed to be a slash and burn piece on Sarah Palin.  I guess if you are ignorant of all things spiritual you would think this is unusual.  NOPE.  This is not only normal, it should be in all churches.  What isn’t shown in this is a prophecy the minister from Kenya speaks over Sarah Palin that defines her as a national leader leading the way.

If you don’t understand this, it’s your loss.  This is exactly as Church should be.  Pity if you are puzzled or offended by what is normal.  You have a weird world view.

This weekend I will have a man from India who is a pastor in that area in fellowship.  He will understand this. Only pagan America doesn’t get this.  It’s their loss.

I hope that all the thing pastor says comes to pass in the USA. It’s time to take over.  The current folks are incompetent.

Thursday, September 25, 2008

Not that it matters, but there are reservations

To the Speaker of the House of Representatives and the President pro tempore of the Senate:
As economists, we want to express to Congress our great concern for the plan proposed by Treasury Secretary Paulson to deal with the financial crisis. We are well aware of the difficulty of the current financial situation and we agree with the need for bold action to ensure that the financial system continues to function. We see three fatal pitfalls in the currently proposed plan:
1) Its fairness. The plan is a subsidy to investors at taxpayers’ expense. Investors who took risks to earn profits must also bear the losses.  Not every business failure carries systemic risk. The government can ensure a well-functioning financial industry, able to make new loans to creditworthy borrowers, without bailing out particular investors and institutions whose choices proved unwise.
2) Its ambiguity. Neither the mission of the new agency nor its oversight are clear. If taxpayers are to buy illiquid and opaque assets from troubled sellers, the terms, occasions, and methods of such purchases must be crystal clear ahead of time and carefully monitored afterwards.
3) Its long-term effects.  If the plan is enacted, its effects will be with us for a generation. For all their recent troubles, America’s dynamic and innovative private capital markets have brought the nation unparalleled prosperity.  Fundamentally weakening those markets in order to calm short-run disruptions is desperately short-sighted.
For these reasons we ask Congress not to rush, to hold appropriate hearings, and to carefully consider the right course of action, and to wisely determine the future of the financial industry and the U.S. economy for years to come.

Signed (updated at 9/25/2008 8:30AM CT)

Acemoglu Daron (Massachussets Institute of Technology)
Adler Michael (Columbia University)
Admati Anat R. (Stanford University)
Alexis Marcus (Northwestern University)
Alvarez Fernando (University of Chicago)
Andersen Torben (Northwestern University)
Baliga Sandeep (Northwestern University)
Banerjee Abhijit V. (Massachussets Institute of Technology)
Barankay Iwan (University of Pennsylvania)
Barry Brian (University of Chicago)
Bartkus James R. (Xavier University of Louisiana)
Becker Charles M. (Duke University)
Becker Robert A. (Indiana University)
Beim David (Columbia University)
Berk Jonathan (Stanford University)
Bisin Alberto (New York University)
Bittlingmayer George (University of Kansas)
Boldrin Michele (Washington University)
Brooks Taggert J. (University of Wisconsin)
Brynjolfsson Erik (Massachusetts Institute of Technology)
Buera Francisco J. (UCLA)
Camp Mary Elizabeth (Indiana University)
Carmel Jonathan (University of Michigan)
Carroll Christopher (Johns Hopkins University)
Cassar Gavin (University of Pennsylvania)
Chaney Thomas (University of Chicago)
Chari Varadarajan V. (University of Minnesota)
Chauvin Keith W. (University of Kansas)
Chintagunta Pradeep K. (University of Chicago)
Christiano Lawrence J. (Northwestern University)
Cochrane John (University of Chicago)
Coleman John (Duke University)
Constantinides George M. (University of Chicago)
Crain Robert (UC Berkeley)
Culp Christopher (University of Chicago)
Da Zhi (University of Notre Dame)
Davis Morris (University of Wisconsin)
De Marzo Peter (Stanford University)
Dubé Jean-Pierre H. (University of Chicago)
Edlin Aaron (UC Berkeley)
Eichenbaum Martin (Northwestern University)
Ely Jeffrey (Northwestern University)
Eraslan Hülya K. K.(Johns Hopkins University)
Faulhaber Gerald (University of Pennsylvania)
Feldmann Sven (University of Melbourne)
Fernandez-Villaverde Jesus (University of Pennsylvania)
Fohlin Caroline (Johns Hopkins University)
Fox Jeremy T. (University of Chicago)
Frank Murray Z.(University of Minnesota)
Frenzen Jonathan (University of Chicago)
Fuchs William (University of Chicago)
Fudenberg Drew (Harvard University)
Gabaix Xavier (New York University)
Gao Paul (Notre Dame University)
Garicano Luis (University of Chicago)
Gerakos Joseph J. (University of Chicago)
Gibbs Michael (University of Chicago)
Glomm Gerhard (Indiana University)
Goettler Ron (University of Chicago)
Goldin Claudia (Harvard University)
Gordon Robert J. (Northwestern University)
Greenstone Michael (Massachusetts Institute of Technology)
Guadalupe Maria (Columbia University)
Guerrieri Veronica (University of Chicago)
Hagerty Kathleen (Northwestern University)
Hamada Robert S. (University of Chicago)
Hansen Lars (University of Chicago)
Harris Milton (University of Chicago)
Hart Oliver (Harvard University)
Hazlett Thomas W. (George Mason University)
Heaton John (University of Chicago)
Heckman James (University of Chicago - Nobel Laureate)
Henderson David R. (Hoover Institution)
Henisz, Witold (University of Pennsylvania)
Hertzberg Andrew (Columbia University)
Hite Gailen (Columbia University)
Hitsch Günter J. (University of Chicago)
Hodrick Robert J. (Columbia University)
Hopenhayn Hugo (UCLA)
Hurst Erik (University of Chicago)
Imrohoroglu Ayse (University of Southern California)
Isakson Hans (University of Northern Iowa)
Israel Ronen (London Business School)
Jaffee Dwight M. (UC Berkeley)
Jagannathan Ravi (Northwestern University)
Jenter Dirk (Stanford University)
Jones Charles M. (Columbia Business School)
Kaboski Joseph P. (Ohio State University)
Kahn Matthew (UCLA)
Kaplan Ethan (Stockholm University)
Karolyi, Andrew (Ohio State University)
Kashyap Anil (University of Chicago)
Keim Donald B (University of Pennsylvania)
Ketkar Suhas L (Vanderbilt University)
Kiesling Lynne (Northwestern University)
Klenow Pete (Stanford University)
Koch Paul (University of Kansas)
Kocherlakota Narayana (University of Minnesota)
Koijen Ralph S.J. (University of Chicago)
Kondo Jiro (Northwestern University)
Korteweg Arthur (Stanford University)
Kortum Samuel (University of Chicago)
Krueger Dirk (University of Pennsylvania)
Ledesma Patricia (Northwestern University)
Lee Lung-fei (Ohio State University)
Leeper Eric M. (Indiana University)
Leuz Christian (University of Chicago)
Levine David I.(UC Berkeley)
Levine David K.(Washington University)
Levy David M. (George Mason University)
Linnainmaa Juhani (University of Chicago)
Lott John R.  Jr. (University of Maryland)
Lucas Robert (University of Chicago - Nobel Laureate)
Luttmer Erzo G.J. (University of Minnesota)
Manski Charles F. (Northwestern University)
Martin Ian (Stanford University)
Mayer Christopher (Columbia University)
Mazzeo Michael (Northwestern University)
McDonald Robert (Northwestern University)
Meadow Scott F. (University of Chicago)
Mehra Rajnish (UC Santa Barbara)
Mian Atif (University of Chicago)
Middlebrook Art (University of Chicago)
Miguel Edward (UC Berkeley)
Miravete Eugenio J. (University of Texas at Austin)
Miron Jeffrey (Harvard University)
Moretti Enrico (UC Berkeley)
Moriguchi Chiaki (Northwestern University)
Moro Andrea (Vanderbilt University)
Morse Adair (University of Chicago)
Mortensen Dale T. (Northwestern University)
Mortimer Julie Holland (Harvard University)
Muralidharan Karthik (UC San Diego)
Nanda Dhananjay (University of Miami)
Nevo Aviv (Northwestern University)
Ohanian Lee (UCLA)
Pagliari Joseph (University of Chicago)
Papanikolaou Dimitris (Northwestern University)
Parker Jonathan (Northwestern University)
Paul Evans (Ohio State University)
Pejovich Svetozar (Steve) (Texas A&M University)
Peltzman Sam (University of Chicago)
Perri Fabrizio (University of Minnesota)
Phelan Christopher (University of Minnesota)
Piazzesi Monika (Stanford University)
Piskorski Tomasz (Columbia University)
Rampini Adriano (Duke University)
Reagan Patricia (Ohio State University)
Reich Michael (UC Berkeley)
Reuben Ernesto (Northwestern University)
Roberts Michael (University of Pennsylvania)
Robinson David (Duke University)
Rogers Michele (Northwestern University)
Rotella Elyce (Indiana University)
Ruud Paul (Vassar College)
Safford Sean (University of Chicago)
Sandbu Martin E. (University of Pennsylvania)
Sapienza Paola (Northwestern University)
Savor Pavel (University of Pennsylvania)
Scharfstein David (Harvard University)
Seim Katja (University of Pennsylvania)
Seru Amit (University of Chicago)
Shang-Jin Wei (Columbia University)
Shimer Robert (University of Chicago)
Shore Stephen H. (Johns Hopkins University)
Siegel Ron (Northwestern University)
Smith David C. (University of Virginia)
Smith Vernon L.(Chapman University- Nobel Laureate)
Sorensen Morten (Columbia University)
Spiegel Matthew (Yale University)
Stevenson Betsey (University of Pennsylvania)
Stokey Nancy (University of Chicago)
Strahan Philip (Boston College)
Strebulaev Ilya (Stanford University)
Sufi Amir (University of Chicago)
Tabarrok Alex (George Mason University)
Taylor Alan M. (UC Davis)
Thompson Tim (Northwestern University)
Tschoegl Adrian E. (University of Pennsylvania)
Uhlig Harald (University of Chicago)
Ulrich, Maxim (Columbia University)
Van Buskirk Andrew (University of Chicago)
Veronesi Pietro (University of Chicago)
Vissing-Jorgensen Annette (Northwestern University)
Wacziarg Romain (UCLA)
Weill Pierre-Olivier (UCLA)
Williamson Samuel H. (Miami University)
Witte Mark (Northwestern University)
Wolfers Justin (University of Pennsylvania)
Woutersen Tiemen (Johns Hopkins University)
Zingales Luigi (University of Chicago)
Zitzewitz Eric (Dartmouth College)

The Clintons Know Which Side Their Bread is Buttered on

You can say what you want about Bill and Hillary Clinton.  They are smart clever savvy politicians. 

If they thought for a minute Barack H. Obama had the chance of a snowball in Hades they would be sucking up to him and campaigning like mad men and women.

They are not. 

They know the truth.  Barack H. Obama is toasted pumpernickel.  The Clintons are now positioning themselves for 2012. 

NOW, they can’t come right out and support John McCain.  Of course not.  They have to give lip service to the Dem party.  Then let the Muslim lose.

This means that Hillary can begin her race for for the white house part two on November 5, 2008.


Sure the radical Leftwing nuts are going bananas. That’s really quite all right.  They are a diminishing minority.  It going to be interesting to watch other potential Dem POTUS candidates whomever they may be distance themselves from the coming train wreck.

Ah, I love the smell of defeat in the fall when it ain’t me.

Advice on the 2008 election from General George Patton

In politics as in warfare sometimes you must crush (destroy) your enemies. Not defeat that allows them to retreat (so they can fight another day). In warfare it’s essential for long term survival. It is so in politics there must never be quarter shown or given.

I have liberal friends, some I like very much. But, in this battle for the future of our nation there can be no compromise, there can be no orderly retreat. The radical left wing must be defeated and destroyed. There cannot be any other outcome.

If we lose we may not survive as a nation.

In the movie, PATTON there is a scene. I recall it this way:

  It’s snowing. The army has been stopped in their advance on the enemy. They are in limbo. A young Lieutenant comes to General Patton and says, “Sir, if it doesn’t’ stop snowing soon we are going to have to retreat”.

  Patton gives him a long cold stare, and in the hearing of all his officers in quarters he says, “Retreat? Retreat you say? We’re not going to retreat, we’re going to attack, we’re going to attack them in the Morning, we’re going to attack them in the Afternoon, we will attack them all night long if necessary. And if we do not succeed, let NONE of us come back alive.”

 

Of course, they did attack, and they did prevail. It was painful. Costly. Difficult. But it saved the continent of Europe from domination by an evil philosophy.

We are now engaged in just such a fight. We must stay on the attack. We must not back down.

If we do not succeed, we may not come back alive.

There can be no surrender.

Wednesday, September 24, 2008

Barack Obama as a Community Organizer helped create the Economic Crisis we have TODAY

Look at this page from Bank of America’s webpage.  I almost hate to link it, it will be taken down.

It brags about how they lend money under the community reinvestment act to low income and minority people many of whom now cannot continue to own the home they signed up for.

If you look at the link on the page, you will see a list of community organizations full of community organizers who pressure banks into making bad loans.  That’s what Barack Hussein Obama did as a community organizer.

Barack Obama’s life as a community organizer for ACORN, one of the listed community organizations, was a part of the crisis we have today.  Just putting the blame where it belongs.

Long Term Hatred Causes Insanity

Sometimes I feel sorry for them.  The radical left. They have had a mass delusion that for the last three quarters of a decade has manifested as a Bush Derangement Syndrome.  It’s hatred for George Bush at a decibel level and intensity which results in wild eyed screaming and accusations about baseless perceived persecutions of themselves or others.

Now at the end of his term that derangement has found a new source of hatred.

The supposed indictments are even more wild and even more radical in intensity over Sarah Palin.  They know at the marrow that IF she becomes VP she will ultimately be POTUS for the next 12 years.  This is terror in their eyes.  Bush Derangement Syndrome has not transmogrified into Palin Derangement Syndrome.  PDS.

This has caused a series of alien abduction level imaginings with conspiracies of evil that no one could even suppose a marginally sane person creating.

I don’t know Naomi Wolf. I read a bit about her.

She appears to be over the top in a lot of things.  She was a Clinton advisor.  In reading her views on a number of things it I believe she has some insight.  Her views on Pornography are pretty good.

Here’s the problem with a person like her.  Maybe like me.  Maybe like a lot of friends of mine.  She says 80% pretty good stuff but has a nutcase streak.  Her psychosis manifesting as PDS was posted with Huffington. Reading this would be amusing if it wasn’t so very sad.

When you get to the part about mail and other supposed persecutions you begin to see the disease. She is mentally ill.  Like much of the radical left has become.

Irrational hatred over a long time like the radical liberals have had for a long time will cause a person, even a person with ability to become irrational in their thinking.  I believe that is what has happened to the Radical Left.  As a group they have lost the capacity to see anything but red.  Like the bull about to die in the ring.  They charge hopelessly at the enemy they think they see and are skewered again and again by the insanity of the quest.  Group think is manifested in Huffington and Daily Kos and other places to the point where the frothing at the mouth has become pathological.

If it wasn’t so sad it would be funny.  It’s not.

Tuesday, September 23, 2008

A Prescription to Cure our Wall Street Woes Starting NOW

Cod liver oil tastes bad, works good.

Surgery hurts.

Getting a tooth filled is uncomfortable.

If we don’t suffer the pain of the cure the cure isn’t a cure. I have a sense that we are delaying and numbing the pain of a cure that we need to have in our economy. The so called bailout isn’t the answer. What we need is a new regulatory environment which in some cases means less regulation and in others regulation of activities that do not support a free and open competitive marketplace.

The Goal in regulation should be to make certain that all players in a capitalistic marketplace have an equal and opposite chance to make the self advised bets they want to make.

I have a few. It would quickly become esoteric and obscure to discuss them here. The truth is we have some regulations in place that exist because of knee jerk reactions to companies like ENRON.

The government coming nationalizing companies and becoming the default cosigner to every bad loan made in America is trying to heal without pain. It’s not likely to happen and it won’t work.

It is socialism.

What is worse than all this is when a disease is numbed but not cured it just prolongs the disease. The economy needs to take some aspirin, drink plenty of fluids, get under the covers and sweat it out. Then like Granny Clampet’s cure for the common cold after a couple weeks it will get better.

I have considered the whole situation and this would be my prescription. The government should denationalize Bear Stearns and AIG tomorrow. Get out of the ownership of private equity in any form.

Second examine the rules and regulations we trade under and discard those that don’t work. We are over regulated.

Then, find 1000 experienced business types who understand markets, who have made a payroll, who know economics, who have significant experience in the private sector as business owners (who are not academics) and put them in business. These must be mavericks and prone to being heartless in negotiation. They must be driven by a desire to make money. Greed.

The business they will engage in is to buy and sell (at a profit) bad loans. They will get a staff for analysis and accountablity. Then when Bear Stearns comes to them and says, Here, buy my loan, they say, How much do you want, they say 70%, he says, 20% and after significant haggling they end at 40%. Then the new owner decides to either redo the mortgage, foreclose or continue the service of the loan anew. If it’s a pure bad debt he resells the debt to a collector and they have a shot at it. His money is made in dealing with the pain of the loans and trying to make a profit doing so.

Now, here’s the motivation. Not for a paycheck,not for a pension but for profit. This person who is part of this new buysell group gets a chance to earn a commission on money he makes in this process. If after a year he has earned 500 million dollars he gets 15%. If he loses money he gets nothing and is fired without any pension or parachute. It’s all or nothing. Make money, you’re fine. Lose, you’re out on the street. I know lots of people who would take this in a second. I would.

It would be best if this person were of Hebrew origin. I have dealt with some of them and they are very good at this sort of thing.

The trick to making this work is that no academic, no government employee gets to make any decisions. It must be a free market solution. The Barack Obamas of the world have no clue what this means. He has never made a payroll.

People who can do this are out there. Find any pawn shop. Hire them. The meaner and tougher the better. It’s just good medicine.

Monday, September 22, 2008

Why I’m for the Fairness Doctrine (for Newspapers and Cable News)

Observing the news coverage of the rallys by Obama and Palin in Florida and the relative coverage and lack thereof I am going on record as wanting the fairness doctrine implemented.  Not for Radio, For newspapers and Cable TV newscasts.

Seeing as how they are so in the tank for Obama and reported none of the huge support for Palin and that guy in Florida this weekend.

Bring on the Fairness Doctrine.

Wait, Main Stream Media Fairness is an antimaxim and Oxymoronic.

Friday, September 19, 2008

If you REALLY want to Know all about BAILOUTS and the Ramifications of them

If you REALLY want to understand the whole bailout of Wall Street and bad loans by the government and If you REALLY want to know what it means to you this is a place you can go to get detail and analysis that will help you think better.
This is good Chicago Boyz thinking.

Obama Votes Present on the Economic Mess

He doesn’t want to discuss his plans for economic recovery. So, he’s voting “present.” Again. Oh, and he “supports” what Bush and his guys are doing. But he does not mention Bush by name. Can’t give the president any credit. Asshat.  What a statesman.  What a diplomat.  What a fraud.

Obama, Untruthful: Untruthful, here, and afraid of this woman and her truth

Obama, Misleading: Even the Washington Post admits it, while noting that yes, McCain also tried to stave off this economic crisis and Congress blocked him, too:

One element of the Obama campaign’s brief against Mr. McCain is that he supported repeal of the law separating commercial banks from investment banks. “He’s spent decades in Washington supporting financial institutions instead of their customers,” Mr. Obama said yesterday. “Phil Gramm, one of the architects of the deregulation in Washington that led directly to this mess on Wall Street, is also the architect of John McCain’s economic plan.” Would it be churlish to point out that another author of the Gramm-Leach-Bliley law is former congressman Jim Leach, a founder of Republicans for Obama? Or that Obama advisers Lawrence H. Summers and Robert E. Rubin supported the repeal — which was signed by President Bill Clinton? - [Emphasis mine -admin]

It’s a reasonable question which candidate has been more attentive to the brewing problems on Wall Street and which has a better prescription for them. But Mr. Obama’s attack does not give a fair reading of the McCain record.

Obama, Empty suit.  Untruthful, blithering empty suit with too many dubious connections. Ask him about the AIG bailout, he votes “present.” If Palin had answered as he did, she’d be excoriated as “stupid” and “not ready.” But he’s The One. Put him in the WH with a Dem controlled Congress and a few judges to name to the SCOTUS and you can just turn out the lights.

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