Wednesday, February 18, 2009

A Better Plan for Detroit

On top of the $17.4 Billion given to GM and Chrysler because they were "too big to fail", we now learn that they both need MORE money to stay afloat! Surprise!

If their requests are granted, the total cost would be $39 Billion! That's $39,000,000,000! Even with that staggering amount of money, they both would still have to lay off tens of thousands of employees.

Can we now stop pretending that there's any chance whatsoever these companies will one day become sustaining, or even profitable, companies? How much money has to be thrown in a black hole after previous infusions don't work? Where does this insanity end?

With this in mind, I have come up with a better plan for Detroit. There are 2 versions of it:

1. The $17.4 Billion Plan. The same cost as what has been wasted already. This is written of as a loss and whatever money remains will be used to build a fence around the city limits of Detroit and become the first country in history to "de-annex" territory.

2. The $39 Billion Plan. Carve the bedrock along the city limits of Detroit and haul it to sink into Lake St. Clair or Lake Erie.

Duck Tape - Stat!

Sometimes, things in life beyond our own control are so senseless and infuriating that, as friend of mine, Pete Nastro, says "I need wrap my head in duct tape to keep it from blowing up!".

Unveiled today, part of this godawful Government-Stimulus-Package-for-Liberal-Interest-Groups is the $75,000,000,000 plan to "save" 7-9 million mortgages facing foreclosure. I'll even let go of the fact that these were either the most irresponsible or the speculative people who were at the core of this financial collapse. The reason why, our own government encouraged the irresponsible (the ones who borrowed what they couldn't afford) to do so. The speculators who were flipping houses, they are another story.

Its the part of expanding Fannie Mae and Freddie Mac that had me looking for the duct tape. If all of the money junkies were addicted to borrowing money they could not possibly afford to pay back when rates went up, its these 2 entities that were dealing the mortgage crack!

You see, ground zero of this entire mess was a politically correct agenda to lend money to poor people so they can own a home instead of renting their whole life. On the surface, this is a noble thing to do. Unfortunately, the way the government went about it could only end in catastrophe.

Forcing banks to end money to people with bad credit because they are a specific race is onerous overreaching of government power.

Encouraging banks and brokerage firms to sell securities on these shaky loans on the implication they are backed by Fannie Mae and Freddie Mac, and by extension, the federal government is dishonest. Only when Fannie and Freddie were going to fail, did the government actually have to back the investments and end up owning most of the companies.

One needs to look no further back than 5 years ago to see the initial warning signs that not all was right in Government Sponsored Entity Land. The Bush Administration attempted to enforce stricter regulation on the mortgage giants, but were opposed by their defenders in congress. More specifically, Barney Frank and the 2 biggest beneficiaries in congress, mortgage cheat Chris Dodd and the new Fresh Prince of the White House. These are probably the 3 most responsible people for today's economic crisis. Even after Fannie Mae's accounting scandal that made Enron's look like a cash register mistake (yes, I just cited my own blog from 4 years ago!), it still had its staunch defenders in congress making their best efforts to block any oversight.

Also, this article from the WSJ about Barney Frank's lies throughout the years about the stability of Fannie Mae can give you an idea what was going on. The man belongs in jail, not congress!

Anyway, back to the duck tape part, despite the disastrous consequences of Government Sponsored Entity malfeasance and corruption on the US economy, part of the $75,000,000,000 bail-out-the-irresponsible mortgage plan is to EXPAND the size and power of Fannie Mae and Freddie Mac!

So, while millions of Americans are out of work and responsible mortgage holders are struggling; Barney Frank, Chris Dodd, The New Messiah and millions of others who didn't pay their bills are sitting pretty right now! This is not the America I though I knew all my life folks, this is Bizarro World!

Thursday, February 05, 2009

Another Day, Another Apostle of The New Messiah with Tax Problems

It has become almost laughable, if it weren't so sad.

A Senate committee today abruptly canceled a session to consider President Obama's nomination of Rep. Hilda Solis to be labor secretary in the wake of a report saying that her husband yesterday paid about $6,400 to settle tax liens against his business -- including liens that had been outstanding for as long as 16 years.

What is it with liberals and taxes? They're always ready to tax hard-working Americans to death, but do just about anything to avoid paying them themselves!

I am beginning to think we'll be able to dig our way out of this financial crisis with back taxes paid by Obama nominees if he keeps up this pace!

Transition Turmoil

Stressful New Job

Unless you have a scorecard, its damn near impossible to keep up with all the mistakes this administration has made throughout its transition. Once hailed as a smooth, well thought out transition with an unprecedented vetting process by The New Messiah's acolytes in the press, it is quickly becoming a disastrous first few weeks. In fact, one would not be out of hand to suggest that maybe this job is overwhelming the Great Campaigner for the Next Job.

Hotair's Ed Morrissey has a pretty concise summary on just how bad things are going for The Chosen One.

Some of the highlights, er...lowlights from of the New Era of Hope and Change:

* After 2 years railing against lobbyist influence in Washington, Obama nominates 13 lobbyists for appointments in his administration.

* 3 tax cheats are nominated for Cabinet positions. If you, or I, made these "mistakes" on our taxes, we'd be looking at some SERIOUS penalties, liens on our property, or even prosecution. In Obama's world, that makes you Cabinet about we put you in charge of the IRS!?!? You can't make this up!

* His nomination for Secretary of Commerce had to bail out because he's under investigation of a pay-for-influence scandal!!!

* Appointed a Secretary of State whose family's primary income seems to have come from Saudi Arabian princes and businessmen. There is also MILLIONS of dollars from other friendly places like China, Russia, Syria, Oman, Dubai and Kuwait.

Mr. Fox, I now nominate you as Head of Hen House Homeland Security!

Wednesday, February 04, 2009

Great Hockey Player, Greater Person

Last night, the New York Rangers raised Adam Graves' number 9 to the rafters of Madison Square Garden. Any Ranger fan will tell you he deserved this honor for his achievements on the ice, however, those same fans will tell you there are plenty more reasons why this man should be honored.

Adam Graves was one of the most selfless professional athletes to ever play any sport. His charitable contributions and time spent with those less fortunate should be an example to all who can make a difference.

Every single article about last night had a significant piece about his contributions to others, visits to hospitals cheering up kids, running the Toys for Tots program for the Rangers or spending hours befriending people a lot less fortunate than you or me.

One quick way to get a glimpse on how he touched others, take a look at this video from the Garden last night. Before he even goes out to the cheers of the raucous crowd at MSG, he's below the stands walking down the hallway leading to the rink. Now, usually there would be family, friends and teammates here. But with Adam, you see just how many friends he gained from his time in New York, by befriending them when they were down and out. See just how happy everyone is for him, regardless of their own circumstances.

Warning: May cause your screen to get blurry!

Every American Lost Their Job Last Month - Twice!

The Shrew of San Francisco is pushing her stimulus by coming up with some odd job figures:

500 Million lost their jobs? Really? Maybe we can put some of them back to work on the condom assembly line!