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Some Good Questions Needing Some Good Answers

Posted by Richard on Thursday, October 02, 2008 4:31:56 AM
I read this in an email I received today (actually it was dated yesterday), from the Laura Ingram website. She raises some really valid questions about the bailout.
 
Eight Bailout Questions

How many times over the last few days have we heard politicians, talking heads and other self-proclaimed "experts" tell us the reason the $700 billion bailout is so wildly unpopular is that we just don't understand it. The economy is complicated. Just trust Congress, President Bush and his royal highness, Hank Paulson. They'll fix it. Don't worry about that $700 billion number. It only sounds high.

Well. If that's the case - if we're really too dumb to understand what's happening - perhaps Congress can show us how much they know. To start, here are some questions I'd like answered.

1) Since the White House introduced the bailout last week, a number of alternative ideas have been proposed. For one, Michigan Republican Thaddeus McCotter wrote a 10-point plan that carries no cost to taxpayers. Others, like George Soros', are significantly less expensive and, in his estimation, likelier to be effective. Can you explain why this bill is the best option, despite being the most expensive?

2) We're told the bailout could actually turn a profit for taxpayers. Assuming that's true, how can we be sure the money actually ends up back in taxpayers' hands? For years the Social Security system took in more money than it paid out, yet instead of putting the surplus revenue toward future benefits, Congress snatched that extra cash for general expenditures. Likewise, Fannie and Freddie's "profits," were used for congressional pet projects. With this track record, how can we trust that this program will be any different?

3) The McCain campaign yesterday pointed out that the most recent housing bill gave the government nearly $1 trillion to purchase mortgages. If this is true, why exactly does Congress need to pass this monstrous legislation?

4) Does the latest version of this bill still "allow the government to purchase troubled assets from pension plans, local governments, and small banks that serve low- and middle-income families"? Americans are having a hard enough time swallowing the idea of a bailout for irresponsible home, car, and student lending. The notion that we'll be on the hook for insolvent pension plans administered by awful, union-controlled lawmakers in cities like Detroit and New York is simply insane.

5) Does the bill's preamble still proclaim that the law "provides authority to the treasury secretary to ... ensure the economic well-being of Americans?" Does anyone know if there are limitations to this seemingly unbridled authority? Otherwise, what prevents the Treasury secretary from becoming a de-facto dictator? This strikes me as especially worth discussion.

6) Are there still no meaningful curtailments of Fannie Mae and Freddie Mac? Does the bill contain anything even hinting at accountability?

7) What concrete assurances do taxpayers have that the turmoil's provenance - Carter and Clinton-era social-engineering dictums that upended safe-lending practices in favor of higher minority home ownership - will forever be outlawed? How do we know taxpayers won't be asked to finance another $700 billion bailout in 10 years? What has Congress learned from its past mistakes?

8) After Enron's collapse, former CEO Jeffrey Skilling, then-CEO Ken Lay, and then-CFO Andrew Fastow, were called to testify before Congress. According to the Business and Media Institute, Fannie's and Freddie's overstated earnings were 19 times larger than Enron's fake numbers. So when can we expect Congress to call Jim Johnson, Franklin Raines, Barney Frank, Chris Dodd, and the rest of Fannie's and Freddie's enablers to testify before Congress?

At the end of the day, we're not being asked to bailout Wall St. so much as we are the Democratic Party. For $700 billion, answers to the questions above are the least Congress can do in return.

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Backburner News Entry 32

Posted by Richard on Thursday, October 02, 2008 4:10:25 AM
More news from the rogue nations.
 
1) From the people's paradise of North Korea comes the news that US Envoy Christopher Hill as arrived in PRNK for talks that are aimed at re-starting the little troll's complete agreement as to gain removal from the blacklist. 
 
"'The U.S. has come up with a revised draft verification protocol," the source said. "Hill will try to reach a compromise on it.'"
 
The question here is, why should the US come up with a revision?
 
Read full story here
 
2) Well actually we didn't expect anything different from Iran
 
"The International Atomic Energy Agency, the UN nuclear watchdog, said in late August that it had not been able to make substantial progress on clarifying whether Iran's nuclear program has military goal."
 
Read full story here
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A Missed Opportunity; an Open Letter to Senator John McCain

Posted by Richard on Thursday, October 02, 2008 3:46:27 AM

Dear Honorable Senator McCain:

I was very much disappointed to not see your name listed amongst those that voted against the bailout plan.

You have stated in all your speeches, interviews etc. on how you are not one of those members of the beltway. In fact, you go your own way, and have many times been called a maverick. However, this time it seems to me that you have run with the herd instead of blazing your own trail.

I feel that you have squandered a wonderful opportunity to hammer your opponent for USPOTUS had you voted no to a 700 million dollar handout. It is also my understanding that the Senate has “sweetened” the deal. You yourself have always stood against earmarks, is not a sweetened pot, earmarks?

As mentioned above you might have been able to use this to your advantage had you simply said “nay”

I am no political strategist but I could envision a commercial running along the lines of showing your opponent, Senator Obama voting “yay” to this bill, and then showing little snippets of him promising all these wonderful government programs, wherein at the end you looked into the camera and simply asked this question:

“Where are we to get all this money Senator? Increased government spending always leads to increased taxes.”

If it is one thing the American electorate loathes to hear are these two words - higher taxes.

While you will get my vote in November, I am still saddened by your choice to go with the flow of congress. This is not the sort of change I had hoped you promised.

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The PAFF Plan

Posted by Richard on Tuesday, September 30, 2008 11:21:07 AM

I would like to preface this piece with a two questions. How many times have we heard the glitterati of the left moaning about how the wealthy do not pay their fair share in taxes? In addition, how many times have we seen them act without a shred of gratitude to the American public for paying their wages? If I were one of them, I would be down on my knees each and every morning thanking God for blessing me with such ability and the chance to prosper with it.

Last evening before I started work I was in the employees break room and Jay Leno was on TV. Russell Crowe was a guest and he suggested that there should not be a bailout. Well if any of you have read my posts, you would see that I am in agreement, no bailout period.

However, Mr. Crowe then suggested something rather absurd. His recommendation was that the government should give the people (that being we poorer peons) 1 million dollars each, or roughly the government should cough up 300 million dollars.

My question here, Mr. Crowe is just where is this money to come from in the first place?

Apparently you and a lot of the others in the chattering class of Hollyweird seem to have is this strange notion that the Federal Government has all the money in the world, or worse we could just print more, and give it away.

The next guest was a woman, whose name I didn’t catch, nor do I recognize her, (I am not much into movies or TV), who went forward stating that she doesn’t mind paying more, (I assume it was in axes, but she didn’t say exactly), as long as it helps her fellow Americans because that was the American way.

Well I actually do mind paying more in taxes; however never fear as I have a plan for those of you on the left coast. It is called the celebrity bailout plan.

This is how it works.

After checking the Forbes list of the top 100 celebrity wage earners, I found that most of them were in the entertainment field. In fact, nine out of the top 10 were in the entertainment business. So I am going to put forth the proposition that those you that wish to help out their fellow Americans by donating millions of dollars each to what I will call the “ Pay Americans First Fund” or PAFF.

I am more than certain that since all of you fall into that wealthy category and you all want to pay more than your fair share that you will donate to this fund. Surely, out of the top 100 you can come up with 300 million dollars. Heck, you do not even have to tap all of the top 100; just the top 30 shelling out the above-mentioned 10 million each would do the trick. If that seems a bit steep then you can try the top 50 @ 6 million per donation. Moreover, if you find that there are some that are still balking on this plan, well then you can hit up the full top hundred for 3 million a pop. Any which way you do this, you still come up with 300,000,000,000.

Think about it, this is a trifecta, a triple play, a win-win-win idea. Everybody’s expectations are met under this plan.

First, the little guy gets the money. Second, the taxpayers do not foot the bill. Third, all of you wealthy celebrity types will feel so good about yourselves and your future place in history about how you saved the American economy.

Why is it that I do not hear thunderous applause?
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Backburner News Entry 31

Posted by Richard on Tuesday, September 30, 2008 4:35:02 AM
"There's a lot of unusual movement surrounding us, and planes are flying overhead," the man said. "I warn anyone who might be tempted by any military operation or use of force, if we're attacked, we'll defend ourselves, until the last one of us dies

I believe there are two options that can be taken, both have just two words.  Navy Seals or sink them. Both would take out all the pirates and definately send a message.

The international community, if they can ever get together might want to consider an idea taken from WWII escorted convoys.
 
Read full story here
 
Related Articles
 
Number One
 
Number Two
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Backburner News Entry 30

Posted by Richard on Monday, September 29, 2008 12:42:34 AM
While it is agreed that there is tension between the US and Pakistan there is at least some good news coming out that country. 
 
President Asif Ali Zaradri  has stated that he wants to "suck the oxygen out of their{the taliban} system so there will be no Talibs".
 
To me this represents a good starting point and a common ground that both the US and Pakistan can begin to cooperate together instead of the stressed situtation that exists between the two nations.  The hope of this blogger is that President Zaradri shall make good on his promise.
 
Read story here
 
For related reading click here
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Backburner News Entry 29

Posted by Richard on Monday, September 29, 2008 12:20:37 AM
Once again the nanny state City of NY, has come to the rescue of the  people whom it believes are just to stupid to know any better. 
 
Read story here
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Backburner News Entry 29

Posted by Richard on Monday, September 29, 2008 12:19:19 AM
Once again the nanny state City of NY, has come to the rescue to the people whom it believes are just to stupid to know any better. 
 
Read story here
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Backburner News Entry 28

Posted by Richard on Monday, September 29, 2008 12:05:46 AM
This would be the laugh of the day if he wasn't so serious. 
 
Submitted for your approval, one Al Gore, not content to stay out of the spotlight for more than a week. One must consider his statements as just another way to fill up his wallet.  And they say Wall Street is greedy.
 
Read and listen to story here
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Backburner News Entry 27

Posted by Richard on Sunday, September 28, 2008 11:57:56 PM
As I have posted on a couple of occassions there is something going on in the PRNK.  As of this post I came across a little tidbit of information about the possible talks between both North and South Korea.  Now considering that there has been reports of the little trolls health failing or perhaps the fact that he is already taking a dirtnap this report does not seem all that odd or out of place.  Plus you have, yet again for the umteenth time, an envoy going to NK for talks about their on again, off again nukes program. 
 
Read story here
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Backburner News Entry 26

Posted by Richard on Friday, September 26, 2008 9:19:47 AM
A very intresting piece from Strategypage.com about a new arms race in Europe and a bump in the financial health of the Evil Empire's economy.
 
Read story here
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Around the Bend

Posted by Richard on Friday, September 26, 2008 6:59:38 AM
The PETA nutroots have gone around the bend.  Not that they weren't all the far from it in the first place.  But this suggestion leaves me almost speechless but I'll try.  PETA has suggested to Ben and Jerry's, (left wing icecream makers), that they use, are you ready,,, human breast milk.
 
"Ashley Byrne, a campaign coordinator for PETA, acknowledged the implausibility of substituting breast milk for cow's milk, but said it's no stranger than humans consuming the milk of another species. "'We're aware this idea is somewhat absurd, and that putting it into practice is a stretch. At the time same, it's pretty absurd for us to be drinking the milk of cows,' she said".
 
Absurd?  Even Ben and Jerry's found this idea ridiculous and outwardly rejected any such notions. 
 
So here's my take, PETA wants to deny babies their natural nurishment so that cows can be spared the "cruel" impractice of being milked.  Can any one say soylent green next?
 
Read full story here
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Let Them Know

Posted by Richard on Friday, September 26, 2008 1:38:17 AM
Below is an email that I had sent out to many of my friends and people who view my blogsite.  Some are probably not conservatives such as myself, but I still like to maintain not only dialogue with them, but also their friendships. However the proposed financial bailout plan has so moved me to write to them, not about an update of The Bluecollar Conservative, but about an appeal for them to contact their representatives in congress, and let them know their veiws on this matter. 

It is in my humble opinion to important an issue to be left up to the politicos of both parties to decide without hear from those that have elected them to office. I urge other bloggers here to do the same, let this issue be decided by the people.


Dear Friends and Readers;
 
This is not an update on my blogsite. I do not know exactly where many of you stand politically. As you no doubt know I myself am a conservative.  However, I feel very strongly about this bailout issue and as such I have been moved to write to you.
 
I am very much against it.  If you have read some of my posts you will see that the last couple of days have been mostly concerned with this proposed plan. 
 
If you agree fine, if not it is also fine. If you are not familiar with it there are plenty of outlets, blogsites and other places you can research it. However, I am supplying a link to all of you that wish to express your opinions to your various Senators and Representatives.  
 
This a most important issue, and I feel that it should not be just left up to the politicos of both parties to decide without hearing from their electorate. 
 
Please contact them. Many of their contact sites have form letters, wherein all you need do is just supply some info, such as email addys etc.  Others you may have to compose a letter. It doesn't have to be a literary work of art. Just a few simple lines expressing your feelings and veiws will suffice.
 
But either way, let them know. Do not allow them to speak for you, without hearing from you.
 
Respectfully yours
 
Richard Woitowitz
 
Herein is the link;   http://www.usa.gov/Contact/Elected.shtml
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Backburner News Entry 25

Posted by Richard on Thursday, September 25, 2008 6:51:11 PM
In an organization that is run by the representatives of rogue nations, autocrats, dictators, and thugs the speech by Mahmoud Ahmadinejad, President of Iran and general nutcase makes plenty of sense.  Let's face it, they're not going to do much other than to agree, or bury their heads in the sand.

As Daniel Johnson said in a piece at the NY Sun, the silence is deafening.
 
Read full article here
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Mathematical Corrections

Posted by Richard on Thursday, September 25, 2008 11:48:04 AM
I have to admit to an error. In an earlier post, "Tongue in Cheek Plan" it was suggested that each person of the 200 mil would receive 425k. The math is off, a few misplaced decimals, well a couple that make it a heck of a lot less. 
 
Read here for corrections, they are in the form of replies, and shame on me I didn't do the math. Simple division;
 
700,000,000,000/200,000,000 = (at best 3500.00 dollars) although it is more than the current stimulus package being considered, it is still not what would have been a nice pretty penny.
 
I would suggest to my fellow bloggers that also ran with this,,,let's do the homework, myself included
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