Category: Government

I Am Protected!

U.S. District Judge David S. Cercone ruled David Hackbart exercised his constitution right to free speech in 2006 when he angrily displayed his middle finger to another driver during a parking dispute in Squirrel Hill and when he displayed the same gesture to Officer Brian Elledge, who told Hackbart to stop.

“The United States Supreme Court has long recognized that non-verbal gestures and symbols may be entitled to First Amendment protection,” Cercone wrote in his 19-page opinion and order filed Monday. “Moreover, several courts, including federal and state courts in Pennsylvania, have found that the expressive use of the middle finger is protected speech under the First Amendment.”

Now there is a precedent for the use of the middle finger as free speech…….my only problem is that few display it properly.  Just raising you middle finger does convey the thought but it is not proper “English”.  As part of the generation that made the finger a symbol of the times, I cringe when I see people just throw the finger out there, instead of taking the time to learn to display it properly and more effectively.

What Is That Sucking Sound?

Dunno?  It is coming out of Washington.  Want some help?  It is the GOP!

Susan Estrich of http://www.creators.com wrote:

The Republicans in Congress are irrelevant — either because, in the smallest number, they go along with the Democrats, or because they just say no and lose. Either way, they’re part of the problem and not a place to find an answer. Lately, most of the Republican talking heads I see are so busy trying to figure out whether Rush Limbaugh is or is not their leader that they lose any claim to being leaders themselves.

Not one of the Repubs have anything to offer as an alternative to the Dem agenda.  All I have seen and heard are from memos sent out with their daily talking points and they all stick to them like good little puppies.  My fav is their new talking point that the recession be renamed the “Pelosi Recession”.

The conservative Dems are doing a better job at opposing the prez than the GOP.  But beyond that, where were the concerns with spending when GW was throwing money away like a drunken sailor in Sinapore?  They are just , as usual, playing politics.  They have NOTHING to offer the people as an alternative to the economic situation the country is facing.  The best they can do is to just say NO to everything Democratic.

If Washington is a circus, then GOP the Clown is the main attraction, for now.

Trillion Dollar Bank Plan

WTF?

President Obama said today that his economic team is “very confident” that the administration’s newest effort to stabilize banks — a mix of public and private funds that could total $1 trillion — will help to free up credit.

The plan aims to remove so-called toxic assets — many of them bad mortgage investments — from the banks’ balance sheets through a private-public partnership. The program will rely heavily on private investors, such as hedge funds and private-equity firms, to buy up $500 billion to $1 trillion of assets with the government providing incentives such as low interest loans and sharing in both the risk and possible profits. The plan announcement jolted stocks on Wall Street, with the Dow Jones industrial average rallying nearly 500 points, or 6.8 percent, to 7785.86 — the fifth biggest point gain in history.

The new program will use between $75 billion-$100 billion of Treasury funds from the Troubled Asset Relief Program and leverage $500 billion with the potential to expand to $1 trillion of private purchasing power with financing from the Federal Reserve System and the Federal Deposit Insurance Corp.

Using the Fed and the FDIC, the government will leverage private capital by co-investing with the private sector. If the private sector has financing provided by the government, buying these assets becomes a more attractive option.

Second, the administration wants the market, not the government, to set the price for these assets.

Third, the private sector will invest alongside the taxpayer on an equal basis, so both parties share the downside risk and upside potential.

To accomplish this, the treasury will partner with the FDIC in a program where banks can bring assets they want to sell to the FDIC. The FDIC will provide leverage, then the assets will be sold in the market, where private market participants will bid on them, thereby setting the price. Then the government can co-invest with the private sector to buy pools of toxic assets and clean up the banks’ balance sheets.

Okay, I really hate to be a downer right now, but this sounds very similar to the program that Paulson came up with and was called the TARP.  Few though that it would work then, and some do not see this working now……wait see.

What A Difference A TALF Makes

What the hell is a TALF?

TALF is Term Asset-Backed Securities Loan Facility (TALF).  It is Bailout #2, which consequently will not be tapped from our pockets rather from printing of more money, is known by some as the consumer bailout, and also a refocused plan to more-so help financial markets dealing with consumer asset-backed securities like auto loans, credit-card debt, and student loans. The new consumer program will allocate $200 billion by the Federal Reserve to security holders of consumer backed debt, essentially doing this will insure the debt if a borrower defaults. And backing the backers, the Treasury department will provide $20 billion from the $700 billion from bailout #1 funds to safeguard losses the Federal Reserve will incur.

Basically, a pool of cash to be used to assist car loans, home loans, etc.  This is a lame attempt to try and create demand.  The problem with this plan is what good is a pool of cash when so many are unemplyed?  These people will will not qualify for a home loan or a car loan….so what is the TALF for?

Just another attempt to save Wall Street.  The people are suffering and the answer to that is more cash to help the business biggies survive.

Hurry! Save The Banks!

Since the very beginning of the economic crisis and then the bailout process it has been about saving the banks, because “they are too big too fail”.  Dollar after dollar has been thrown at the banks in question and what has it accompliushed?  A damn fine question!

The Congress and all concerned are throwing this money at the banks with the hopes that it will prop up their bottom line so that they will once again start loaning money.  In essence they are trying to improve the bank’s liquidity.

Good one, guys!  But answer this–what good is liquidity if there is NO demand?  Why would banks loan to companies if no one is buying their product?

Let us take it further.  There is NO demand!  Until demand can be created banks will NOT loan money to anyone.  The only economic activity right now is between banks, because they are too big too fail.  The banks are being saved—they are NOT saving jobs–They are NOT creating jobs–they are NOT loaning–they are doing nothing.  Wait!  That is a lie!  They are investing overseas and Citi made a profit.

Profit?  Does that mean the government can expect a check?  Doubtful!

One more time!  If demand cannot be created, then liquidity means squat!

We Do Not Want Your Money

That is what several governors have told the Federal government, most of them in the South and Repubs, but why would a governor not want stimulus money to help his/her state?  Well, some say that it would put a strain on their budgets in the future.  Or maybe it is the red tape involved.  Or maybe it is because it is coming from a Democratic pres.

There has not been a definitive answer to why they do not need or want the cash…but with a little reading and research there could be an answer…..

The buzz grows surrounding the possibility of a second massive economic stimulus package, President Obama and Vice President Biden warned state officials yesterday to spend their shares of the approved $787 billion wisely – or else.

“If we see money being misspent, we’re going to put a stop to it,” Obama said at a daylong White House conference on the recovery package.

With that one statement it could explain the hesitancy of the governors to accept the cash.  It must be spent for the good of the state…not put in some “general fund” to be pissed away like so many other funds that some of the states receive.

Could it be that the governors are afraid of the word “transparency”?

I did find one thing that caught my attention.

Some state officials expressed confusion about what role they will play in passing on stimulus money to cities and towns and what reporting requirements they’ll face. They also complained that there has been a lack of communication about projects that have been announced.

This is a good possibliity, especially in my state of Mississippi, where we have the absolute worst system of record checking….another good way to piss money away …if no one can check where it goes…..

These governors are NOT acting in the best interests of their states and its people.  They are playing politics…in a tiome when politics should be the furtherest thing from their minds.

Get Government Out Of Your Life

I do not mind the government taxing me or telling me that my kid has to go to school but there are some things that they should NOT be allowed to do.  These are to legislate morality or good health or good eating habits.

Last year the state of Mississippi tried to encat a law that would make it illegal for restaurants to sell certain foods to overweight people.  You got it!  They were trying to making certain eating habits illegal….like what they are doing with smoking and oral sex.

But Mississippi is not alone in this assault on the people’s right to the “pursuit of happiness” thing.  Paterson of New York had his “fat Tax”.   The initiative that drew the most criticism was an 18-percent tax on nondiet soda. It was dubbed the “fat tax” because $404 million in proceeds were to go toward combating childhood obesity.

The government needs to stay out of the people’s private lives…their health habits are just that…theirs.  No matter how hard the government tries they cannot legislate morality or health.

Gingrich Is A Moron!

And you thought you had heard all you were gonna hear from this guy….HA!

Former U.S. House Speaker Newt Gingrich says Michigan should pay pregnant teenagers to take prenatal vitamins and stay healthy so the government avoids expensive costs when babies end up in neonatal intensive care units.

The Republican also told state senators Wednesday he supports paying poor children to read, and the state should consider paying girls to not get pregnant.

Gingrich is the founder of the Center for Health Transformation. He says politicians and the media spend too much time focusing on the finances of health care. Gingrich says more attention must be paid to cultural changes such as requiring students to exercise, putting grocery stores in the inner city and incentivizing people to not smoke.

Is he saying to pay teen girls to have sex but not get pregnant?  I believe there is a title for that activity.

Earmarks! A Pathetic Issue!

Earmarks?  This is funds added to a build for pet projects in districts of the congressperson attaching them.  Think about that…..if so, what the hell was the recent stimulus package passed for?

The media keeps punding Obama for the spending bill he just signed.  Their main bitch is that it is full of earmarks, about 9000 or so.  Now the media is truly concerned because during the campaign Obama said he would eliminate all earmarks, at least that is what the pundits are saying.

Houston, we have a problem.  To begin with, during the presidential campaign it was Mccain who spouted the crap about eliminating earmarks.  Obama said that he would reform the earmark system and I believe that is what he is trying to do.

The truly silly part about the last bill with all the earmarks that the Repubs are so getting political mileage out of, was full of the earmarks from Repubs.  The two biggest came from the two senators from Mississippi.  Oh yeah, both are Repubs.

Repubs are just flipping pathetic and should be put on some type of hypocrisy watch.

GOD! I Love This Stuff!

The conservatives are making this all too easy.  The Dems have been trying to make Rush the face of the GOP and evertime one of these guys apologizes to Rush they are just helping the Dems in ways they can not imagine.

Two days after calling Rush Limbaugh a mere “entertainer” with an “incendiary” talk show, Republican National Committee chairman Michael Steele apologized and acknowledged the radio commentator as a “national conservative leader.”

Republican National Committee Chairman Michael Steele says he has reached out to Rush Limbaugh to tell him he meant no offense when he referred to the popular conservative radio host as an “entertainer” whose show can be “incendiary.”

“My intent was not to go after Rush – I have enormous respect for Rush Limbaugh,” Steele said in a telephone interview. “I was maybe a little bit inarticulate. … There was no attempt on my part to diminish his voice or his leadership.”

Steele comments were thus:

Steele told CNN host D.L. Hughley in an interview aired Saturday night: “Rush Limbaugh is an entertainer. Rush Limbaugh — his whole thing is entertainment. He has this incendiary — yes, it’s ugly.”

And then the Rush fires back at Steele:

“Why are you running the Republican Party?” Limbaugh asked on his radio show. “Why do you claim you lead the Republican Party when you seem obsessed with seeing to it that President Obama succeeds? … I would be embarrassed to say that I’m in charge of the Republican Party in the sad-sack state that it’s in. If I were chairman of the Republican Party, given the state that it’s in, I would quit.”

This comedy of errors just keeps rolling along…snowballing as it slides down the political slope….GOD!  I love this stuff!