Wednesday, June 30, 2010
I don't know who they think they're kidding. Sure, call it an assessment, but in the end it just as much a tax as any other given that the additional expenses will be passed straight through to bank customers. It is, in effect, just another tax we all end up paying.
The killer, though, is what we get for this $20 billion - a new, massive, non-functional, unaccountable banking bureaucracy. Yippee
Sunday, June 27, 2010
Friday, June 25, 2010
Thursday, June 24, 2010
This posted by Deputy Treasury Secretary Neal Wolin on the White House blog would make even Pinocchio ashamed.
"[W]e already know that whatever bill comes to the President’s desk will end the problem of 'too big to fail.' It will end taxpayer-funded bailouts. And it will make sure that American families and businesses never have to foot the bill for the irresponsibility of Wall Street."
Sure it will. Just like the reforms passed after the bank failures of the early 1990s did, and the ones passed in early 1980s before them. However, I do agree with this part:
"If you’re a family trying to buy your first house, a parent trying to fund your child’s education, an employee trying to save for retirement, or an entrepreneur trying to expand your business, you have a stake in financial reform."
Unfortunately, though, the financial reform bill means that even those with good credit will have a more difficult time finding a loan and end up paying more for it.
Wednesday, June 23, 2010
Here's the salient quote from the article:
"Mr. Geithner told a watchdog panel that banks had repaid about 75 percent of the bailout money they received, and the government’s investments in those banks had brought taxpayers $21 billion."
Tuesday, June 22, 2010
Apparently forgetting that it is neither part of the United States nor an American citizen, Mexico (yes, the country, and not the Richmond restaurant of the same name) has moved to intervene in a suit filed in the U.S. District Court for the District of Arizona challenging the Arizona law allowing police officers to inquire as to nationality. Story here
In its motion to appear as amicus curiae, Mexico contends that its diplomatic relations with the federal government should not be “frustrated by the actions of individual U.S. states.” Moreover, it contends that Mexico has a substantial and compelling interest in ensuring that its citizens illegally in the United States are treated “in accordance with federal immigration law.”
Not to get too legalistic here, but I certainly hope the court denies the motion. The idea of a foreign government intervening in a suit against an American state construing American law in an American court is almost as insane as that same government complaining that, in the end, we’re simply returning its citizens to it.
Saturday, June 19, 2010
Thursday, June 17, 2010
"Board Vice Chairman Susan Klimek Buckley (D-Sugarland Run) voted against the plan because she does not believe it would support the commercial tax base needed to shore up Loudoun’s economy. Supervisor Stevens Miller (D-Dulles) said he felt like he couldn’t 'get to the heart of my issues' and he was being asked to trust something 'I don’t really know a lot about.'"
While I question Buckley’s veracity, Miller’s excuse for voting against the proposal is, well, inexcusable. His job is to “know” about the issues presented to the Board, make reasoned evaluations of them and act according to his conscience (and common sense). Here, though, he pleads cluelessness despite the fact that this very issue has been percolating for so long that one reason supervisors voted against it was that the CMP was now outdated. Indeed, back In July 2009, the Board extended the time for considering the proposal. That was 11 months ago.
Well, Miller may not be doing his job, but at least this time he didn’t do something really stupid - like challenge Delgaudio to a duel.
Best of luck to them!
Tuesday, June 15, 2010
All this chest beating, and still the public's assessment of his handling of the crisis continues to decline. Maybe, just maybe, it's time to work on solving the problem in cooperation with those who know most about it rather than distracting everyone with bursts of pseudo-machismo. In other words, maybe he should just start acting like a president.
Sunday, June 13, 2010
Where to begin.
Let's see . . .
Obama rams through a $700 billion pork-laden, free-for-all-spending package under the guise of an economic stimulus, bribes his way to a $1 trillion dollar health care entitilement program, and now demands another $50 billion to pay off the teachers' unions. When will the insanity end?
Oh, wait, there's end in sight!
"'I think there is spending fatigue,' House Majority Leader Steny H. Hoyer (D-Md.) said recently." as quoted in the Post.
Hooray! Apparently, congressional Democrats are simply becoming too tired to cut any more checks. Maybe that's the way to the fiscal discipline Obama has promised.
Friday, June 11, 2010
With a couple stories in local papers and the Post on the possibility of unsuccessful Republican candidates running in the general election as third party candidates, I can’t help but say I absolutely love, love, LOVE the idea of a new third party as the home (or asylum) for Tea Party activists. All those crackpots who want to eliminate the Fed can take the militant anti-abortionists with them to their own padded room where they can fight over who is the most extreme nutball.
No doubt, Republcans would lose some votes and probably some elections, too. In the long term, though, it’s nothing but a clear win for the Republican party. A house cleaning like that would certainly make the party far more welcoming to independents and former Republicans disillusioned by party purists. I see it as a tremendous opportunity to build a stronger (and saner) political base.
With any luck, the Tea Party as a third party will arise in Loudoun, taking Dick Black as their state senate candidate and Suzanne Volpe as their chairman to start.
For some reason, I'm hearing music: "What a wonderful world it would be."
Wednesday, June 9, 2010
Well, there's this one that's now running on TC. "The Patriot Majority" slams all the Republican Nevada senate candidates in what seems to be a front for Harry Reid. Keep in mind, this comes a week after a Nancy Pelosi plug also ran under the "Link" section.
I'm not one to begrudge a guy for making a buck, but when it comes at that kind of price, is it really worth it?
Tuesday, June 8, 2010
Come on, man!. Ooops. No racial slur intended.
Obama's obviously looking more for scapegoats than solutions. Indeed, not once in his interview with Matt Lauer did the president give any indication that the federal government had actually offered any assistance to BP in stopping the spill. Well, other than threatening to sue them - like that would make a difference.
Monday, June 7, 2010
Saturday, June 5, 2010
And for those Dick Black and Patricia Philllips fans, here are a couple other Herring figures that might interest you:
Number of plastic fetuses mailed to fellow senators: 0
Number of Harry Potter books sought to be banned: 0
Thursday, June 3, 2010
Keep in mind that there's more "news" out there than ever before. It's just democratized as a result of the Internet, and, hence, the old-school media outlets have lost their oligopoly on news and opinion.
All I can say to that is "HAAAA HAAA HAAAAA HAAAA!!"
As quoted in the Loudoun Independent, Burk explained her opposition: “I don’t believe it is going to be local programming."
First of all, the BOS should not play FCC or program director. We need a local station, period. And though there's no guarantee that the new WAGE will touch local issues, it is certain that there won't be any local issues aired without it.
Wednesday, June 2, 2010
We need reasoned responses that take into account political and economic realities, and, hence, we keep the Fed just like we keep privately held oil companies. We also need to let the free market work as much as possible, which is why I support the Republican platform. But when Republican candidates like Catherine Crabhill (not that she has any chance, but it underscores my point) support the abolition of the nation’s central bank, I get concerned that conservatives will fumble the golden opportunity presented by the extremists on the left.
In other words, my fellow Republicans, be conservative, but don’t be crazy.