Georgie, Go Gofling. You've proven your worth to be not much more !

The markets are doing well, investors are not as jittery as one might expect as they have faith in the USA Legislature to be cautious and thorough.

A few hundred point swing is nothing these days. The DOW isn't going to see 14,000 for some time, so get over it. TOO BAD, HANK !

Don't blow it !

Steady as it goes ! Chart the coarse everyone. Let's go. We can do this and we can to it right without the corruption the Bush Executive Branch brings.

Where's Allen?



...Hank Paulson's plan will soon be rammed through Congress (Maybe not.), likely with strings attached for "homeowners" and executive pay. Too bad, because the plan is seriously flawed and taxpayers are likely to get hosed. Especially too bad because a much simpler plan that would save the system without socking it to taxpayers....

Krugman is right. You know there is something really reassuring right now about reading the same Op-Editor for years and years and years. Nice.

I can't help but wonder though, if we aren't all caught up in the 'enormity' of the Paulson Con. I mean that is exactly what it is, even if 'the gentle people of Wall Street' won't say it. Either Paulson is completely inept or he is attempting the Biggest Con in history. He didn't see any of this coming?

Give me a break. Would anyone in their right mind with intact ethics and integrity actually hang their hat on this one? No.

And what if the 'tragedy of the commons' isn't all that?

Cash for Trash (click here)
By PAUL KRUGMAN
Published: September 21, 2008

...But Mr. Paulson is demanding extraordinary power for himself — and for his successor — to deploy taxpayers’ money on behalf of a plan that, as far as I can see, doesn’t make sense....

Nice work Vladimir.

Very nice.

Russia can be counted on.

When it comes to fighting Nazis or containing the nuclear ambitions of Iran or stopping tirading zealots in Georgia or stabilizing global markets.

Russia 'gets it.' You know?

EMERGING MARKETS REPORT
Russian rally sends stocks 30% higher (click here)
Epic swing prompts another temporary suspension of trading
By Polya Lesova, MarketWatch
Last update: 6:13 p.m. EDT Sept. 19, 2008
NEW YORK (MarketWatch) -- Russian stocks rallied nearly 30% Friday, causing the markets' regulator to halt trading once again on the two main stock exchanges, after the government took a series of steps aimed at stemming the country's financial turmoil....

It is difficult to tell on a warming planet with drought disaffecting everything when exactly is the best autumn leaf color....

...the net is fortunate enough to have experts speaking to the issues of 'leaf color perfection.' Click on the title to this entry to find the quinessential forecaster of Autumn Color Foliage.


Click example here

Leaf-watchers logging on for peak fall foliage information (click here)
By CORISSA JANSEN

cjansen@journalsentinel.com
Posted: Sept. 28, 2003
Staying at a New Hampshire bed and breakfast when the fall foliage was at its brilliant peak, Marek Rzonca couldn't figure out why the place was empty except for him and his wife, Sara....

...So using his Internet savvy and his background in meteorology, Rzonca tapped bed-and-breakfast proprietors in his region and set up a Web site for travelers in pursuit of up-to-date information about the fiery reds, glowing oranges and bright yellows of autumn.
Four years later, his Foliage Network Web site covers 19 states, including Wisconsin, and has leaped from 6,000 visitors in 1999 to more than 170,000 last year....

The height of color along The Blue Ridge Parkway of North Carolina, 2007.

Best Fall Foliage and Autumn Color Web Cams for 2008 (click here)
Fall and Autumn Foliage Live Video Cams
By Steve Nix, About.com

I have selected the very best "web" video cameras showing fall leaf color in forests throughout North America for the 2008 viewing season. These selected sites record the color of fall tree foliage using "live" web cameras mounted at strategic locations. By viewing these forest web cams, you will see how fall color is spreading and the autumn leaf wave is moving throughout North America....

South Africa: Address to the Nation by President Thabo Mbeki

Everything Bush touches turns to mush.

South Africa: Mbeki to Resign After Party Clashes (click here)
20 September 2008
Posted to the web 20 September 2008
John AllenCape Town
President Thabo Mbeki of South Africa is being forced out of office early after a bitter struggle with his rival and successor, Jacob Zuma, over the fallout from a U.S.$5 billion arms deal....

South African Government (Pretoria)

21 September 2008

Posted to the web 21 September 2008
Thabo Mbeki
Fellow South Africans (click title to entry, thank you),
I have no doubt that you are aware of the announcement made yesterday by the National Executive Committee of the ANC with regard to the position of the President of the Republic.
Accordingly, I would like to take this opportunity to inform the nation that today I handed a letter to the Speaker of the National Assembly, the Honourable Baleka Mbete, to tender my resignation from the high position of President of the Republic of South Africa, effective from the day that will be determined by the National Assembly.
I have been a loyal member of the African National Congress for 52 years. I remain a member of the ANC and therefore respect its decisions. It is for this reason that I have taken the decision to resign as President of the Republic, following the decision of the National Executive Committee of the ANC.
I would like sincerely to thank the nation and the ANC for having given me the opportunity to serve in public office during the last 14 years as the Deputy President and President of South Africa....

I find the 'bail-out' more than skeptical. There has been a lot of unnatural 'waves' of the market under Bush.

Henry Paulson came into a more than lacklust administration on July 3, 2006 and all of a sudden everything turns around UNTIL January 2008.


You can say what you want, but, there is something more than strange about this market.




Stock indices regardless of the 'times' usually follow reasonably predictable growth.



Sure there are the ups and downs, and its the ups everyone wants to catch and ride the wave, like the "Dot.com Bubble," but, for the most part there is a predictable 'trend' line that dominates most stock market growth.

I believe there needs to be a more in-depth reveiw of the global markets before any bail out is issued. There is something a little 'too fishy' about all this and it all points toward Paulson. Are we dealing with an grossly artifically inflated market, of which needs a major adjustment? Is there something 'W'rong about a global construction slow down? I believe the 'frenzy' that Paulson is 'salesman' to is more his concern for the wealthy and not the people that 'shore-up' any economy, labor.

For the USA to be placed in a position of carrying 'global debt,' what does that do in the long run to 'entitlements' and the prospects of 'retooling' the USA infrastructure into an 'Clean Energy' economy?

I don't like it. I don't like any of it. It's all too manipulated and Paulson's priorities are hidden among the frenzy.

It would be better if 'Cooler Heads' took over and it was NOT the USA Treasury that was administering any debt, but, an autonomous legislative bureau that answered directly to Congressional Oversight Committee.

Paulson is the wrong person to trust, he is the wrong way to go. Hank is a little too worried about watching his '14,000 DOW Baby' crash. There is something very wrong here and it hasn't got to do with anything except gross market manipulations that were engineered by a man determined to undermine everything he deemed undesireable about global finance. This is a 'prelude' to 'The Fiscal World According to Henry.'

The powers Paulson seeks are wrong to give to him, they need to be directed into an autonomous bureaucracy (hate the word of course, but, hey like Henry says, it better than the alternative). What you say we set up another office and ask Greenspan to head the entire recovery? I think that would be far safer than this mess, and Greenspan could answer to Congress rather than be dictated to by the Executive Branch, the very people that 'caused' this mess. Ask Alan who he wants at his side, bar none, including Europe, Australia, China, Brazil, Russia, etc. Let Greenspan have some real clout and get to the bottom of this disaster !

That sounds more reasonable with a far greater element of safety than to trust Bush and Paulson with a trillion $US. If Paulson and Bush didn't have the expertise to head this off BEFORE it was an emergency than they don't have it now. The global markets will keep faith IF the USA is acting prudently. Prudent steps will continue investor confidence and if anyone can make 'the right decisions' Alan can. There is still some room to play. We have seen drops of 500 and with a DOW over 10,000 that isn't nearly the crisis Paulson wants us to believe it is.

4 Days and Counting...

First US greenhouse gas auction set for Sept. 25 (click here)
By Mary Esch
September 21, 2008
ALBANY, N.Y.—A coalition of 10 northeastern states this week will take steps to check global warming when it conducts the nation's first carbon auction, taking the same approach that curbed lake-killing acid rain.
Environmental groups, energy producers, and government leaders will be watching closely as the Regional Greenhouse Gas Initiative sells carbon credits Sept. 25 in the first of a series of quarterly online auctions. The cap-and-trade greenhouse gas reduction program, which aims to hold carbon dioxide emissions steady through 2014 and then gradually reduce them, is widely viewed as a model for future programs around the globe.
"With the leadership vacuum in Washington, it has fallen to the states to take the lead on combating climate change," said Richard Revesz, dean of the New York University School of Law and an expert on environmental law.
In July 2003, then-New York Gov. George Pataki brought together nine other governors to develop a regional strategy to limit carbon dioxide emissions from power plants. The bipartisan action followed President Bush's rejection of greenhouse gas reduction goals set under a 1997 United Nations protocol reached in Kyoto, Japan.
Governors in Connecticut, Delaware, Maine, Maryland, Massachusetts, New Jersey, New Hampshire, Rhode Island, and Vermont joined Pataki in the coalition known as RGGI, or "Reggie." Other regional greenhouse gas coalitions, such as the Western Climate Initiative and the Midwestern Greenhouse Gas Accord, are in earlier stages of development....

PM Announces Government of Canada Will Extend Jurisdiction over Arctic Waters

Canadian Environment and Shipping Jurisdiction to be Enforced an Additional 100 Nautical

Miles Offshore
27 August 2008
Tuktoyaktuk, NT

The Government of Canada will extend its jurisdiction in the Arctic by doubling the range at which Canadian environmental laws and shipping regulations will be enforced, Prime Minister Stephen Harper announced today.“Whether it is the thawing of the Northwest Passage or the suspected resource riches under the Arctic seabed, more and more countries are taking an interest in the waterways of the Canadian Arctic,” said the Prime Minister. “We will be sending a clear message to the world that our environmental standards and sovereignty are not up for debate -- if you are in Canada’s Arctic you will be playing by Canada’s rules.”...

The Weather at Glacier Bay National Park (Crystal Wind Chime) is melting. Is there anything left to melt? Why do I get the feeling that Canada, Russia, Saudi Arabia and Iraq don't need the 'bailout bucks?' Why is that?

Elevation :: 33 ft / 10 m

Local Time :: 2:58 PM AKDT

Lat/Lon :: 58.8° N 137.0° W

Temperature :: 52 °F / 11 °C

Conditions :: Mostly Cloudy

Humidity :: 76%

Dew Point :: 45 °F / 7 °C

Wind :: 4 mph / 6 km/h / 1.5 m/s from the East

Pressure :: 30.02 in / 1016 hPa (Falling)

Visibility :: 10.0 miles / 16.1 kilometers

UV :: 1 out of 16

Clouds:
Mostly Cloudy 2400 ft / 731 m
Mostly Cloudy 3000 ft / 914 m
Mostly Cloudy 6000 ft / 1828 m
(Above Ground Level)

"Oppose the Treasury's Bailout Plan" - It ain't just me.

September 20, 2008, 4:46 pm
No deal (click here)
I hate to say this, but looking at the plan as leaked, I have to say no deal. Not unless Treasury explains, very clearly, why this is supposed to work, other than through having taxpayers pay premium prices for lousy assets.
As I posted earlier today, it seems all too likely that a “fair price” for mortgage-related assets will still leave much of the financial sector in trouble. And there’s nothing at all in the draft that says what happens next; although I do notice that there’s nothing in the plan requiring Treasury to pay a fair market price. So is the plan to pay premium prices to the most troubled institutions? Or is the hope that restoring liquidity will magically make the problem go away?...

Mine is not a political blog. I have political views, but I try to keep them out of my writing here, because they aren’t relevant to my readers. This is a rare point where the two worlds collide, and I have to take a political stand.
Let me state this plainly at the beginning of my piece, so that you know where I am going: I am asking all of my readers, and all of the financial bloggers that read me to call their Congressmen, and ask them to oppose the Bailout Plan as currently structured. I am also asking the financial bloggers to ask their readers to do the same thing.
I don’t do things like this often, so understand that I think that this bailout plan is very ill-conceived. I also think that opposing the bailout should appeal to all, regardless of party affiliation....




September 21, 2008
...Bring back the Resolution Trust Corporation, for real. Don’t do deals with solvent institutions. Let them figure out how to best maximize their financial positions on their own; after all, it was their great decisionmaking skills that got them into this.
But do do deals with insolvent companies. Take in their illiquid assets, reposition them, and auction them off once they are more saleable. To the extent that we bail out whole firms, make it so costly to the firms that it is clearly a last resort, as with Fannie, Freddie, and AIG.
I am willing to testify before Congress on this issue, not that I think that will happen. If anyone from Congress happens to read this and wants me to testify, please contact me here.
Finally, to any readers or financial bloggers that take me up on my request, I offer you a hearty thanks.

This is a 'Dumping Syndrome' Bill. Every 'bad debt' from the past will end up as the USA Taxpayers' Nightmare, whether it was generated by Subprime Lending or Not. The whole lot of them belong in prison. The Republican majority Congress of 2000 to 2006 raised the national debt limit every year after 9/11. The Democrats haven't done any of that up to now. I guess Bush's administration had to 'get their way' somehow !


FACTBOX: Key facts on U.S. Treasury's proposed mortgage fund (click here)
Buy any mortgage-related assets, both residential and commercial, for a two-year period. The types of mortgage assets this could cover and how long the government could hold them is left wide open, as is how they would be valued.
* Up to $700 billion in mortgage assets could be bought at any one time
* Broad authority granted to decide how to purchase, manage and dispose of the assets, including setting up a special fund and naming financial institutions to work for the Treasury Department.
* Assets must have been originated or issued before September 17, 2008, by a bank or financial institution with U.S. headquarters
* The Treasury Secretary would be given these powers to ensure stability or prevent disruption of financial markets and to protect the taxpayer
* No court or government agency could review the secretary's decisions. The secretary would report to Congress within the first three months and then twice yearly
* The U.S. debt limit would be increased by $700 billion to fund the plan, to $11.315 trillion from $10.615 trillion.

That vortex on the 14th finally started to become a tropical storm. It takes awhile to work up enough water vapor these days.

Rainfall rarity: Precipitation totals seen once every 25 years (click here)
09/21/2008, 9:53 am
By Leila Noelliste
lnoelliste@daily-journal.com
815-802-5144
You could call it the perfect storm.
Key factors came together to make last weekend's intense rain and flooding a very powerful and unusual experience. The rain dumped close to 9 inches in some towns, and Illinois State Climatologist Jim Angel classifies it as a 25-year storm, not likely to happen again within the next two and a half decades.
"With a lot of those rainfall totals, we're talking about a 25-year storm. And some of those totals that are over 8.75 inches could be described as 100-year storms, expected to happen once every 100 years, on average," he said.
The rains were powered by Hurricane Ike, which traveled north to Illinois after battering Texas. According to Angel, most hurricanes would have lost most of their power after leaving the heat and moisture of the tropics, but Ike stayed strong, unleashing wind and heavy rain on the Midwest....


September 17, 2008
Peru, Illinois
Photographer states :: Flooded Illinois River In Peru, Illinois.


September 18, 2008
Seabrook, Texas
Photographer states :: damage from ike at houston yacht club in la porte texas and seabrook sailing club in seabrook tx


September 21, 2008
1730z
UNISYS Enhanced Infrared GOES East Satellite

It was a Timothy McVeigh style bombing. Similar to the bombing in 1993 of the WTC.

This is going to go on until the Returning Government of Pakistan can gain cooperation with the tribal areas and bring in terrorist elements in the country.

Recent bomb attacks in Pakistan (click here)

20 Sep 2008, 2145 hrs IST,AGENCIES

Here is a list of major attacks in Pakistan since January 2008.

January 10: Twenty people, mostly policemen, killed in suicide bomb attack outside Lahore High Court.

January 14: Bomb kills 10 people at a market in Karachi.

February 9: Suicide bomber kills 25 people at an opposition election rally in the northwestern town of Charsadda.

February 11 : Nine killed in suicide bombing at an election meeting of an independent candidate in North Waziristan.

February 16 : Suicide car bomber strikes a rally of Pakistan People's Party in the northwestern town of Parachinar, killing 37.

February 22: Roadside bomb hits wedding party in Swat, killing at least 14.

February 25: Suicide bomber kills army surgeon Lieutenant General Mushtaq Baig and seven others in Rawalpindi.

February 29 : Forty-four killed in a suicide blast in Mingora in northwest Swat valley during the funeral of three policemen killed by a roadside bomb earlier in the day.

March 2: Suicide bomber kills 43 at tribal elders convention in the northwestern district of Darra Adam Khel.

March 4: Two suicide bombers attack Pakistan Naval War College in Lahore, killing five people.

March 10 : Suicide truck bombings target Federal Investigation Agency building in Lahore; 26 killed.

March 15: Bomb blast at a restaurant in Islamabad kills a woman and wounds 10 others, including four FBI men.

July 2: Suicide car bomb outside the Danish embassy in Islamabad kills eight.

July 6: Fifteen killed in suicide attack on policemen during a rally to mark the anniversary of Lal Masjid raid.

August 12: Roadside bomb attack targets Pakistan Air Force bus in Peshawar, killing 13.

August 19 : Twenty-three killed in suicide attack on a hospital in northwestern Dera Ismail Khan town.

August 21: At least 78 killed in twin suicide attacks outside Pakistan's main ordnance factory in Wah.

August 28: Nine persons, mostly policemen, killed in roadside bombing in North West Frontier Province.

September 6: Thirty people were killed and 70 injured in suicide bombing near a police check post in Peshawar.

I frequently disagree with Nancy Pelosi, especially when it comes to funding Iraq,...

...but, this time we have something in common. American families have to come first. If American families come first that will stabilize the circumstances of their foreclosures. There needs to be an underpinning to their economic stability and that might mean extending unemployment further or working with mortgage companies to secure monthly payments families can afford. But, the basis of this economic clamor is due to the loss of jobs and home foreclosures.



...She says the bailout should include provisions to help families facing foreclosure to stay in their homes, as well as create jobs, extend unemployment benefits and prevent CEOs of failed companies to leave with multimillion-dollar "golden parachutes."...


To simply 'hand out' money in the way of a bailout does not insure the well being of our country. According to Hank Paulson we even have to extend the bailout to other countries.


I don't think so.


If other investment firms came to the USA to make a profit and attempt to help Americans with their purchases of homes to enhance their future security then the 'real security' lies in the financial security of the American family, their job security, their wellness and a promise to a future that is not undermined by Republican priorities that destroy lives and deplete the quality of life.


If Hank Paulson can ask Congress for nearly a trillion $US to bailout financial institutions, including those institutions in other countries, then there is no reason why those same monies can't go directly to the people facing foreclosure. This is such a scam its hideous.


You put a CEO at the top of the USA Treasury, what will he do? He'll seek to 'handle it' with only fiscal outcomes being the focus.


If you put a 'human being' at the top of the USA Treasury, they will see 'the people' being disaffected and act accordingly. The people in the Bush Executive Branch like their big banks, big money and big projects. We don't need them, we need Democrats to 'handle' Hank because the guy is indiscriminately insensitive to the real victims of these issues and that IS The American People. He couldn't care less and it shows at every turn.

There is no reason for what is transpiring. Bush and his financial 'Whiz-Kids' don't seem to understand good accounting practices, so they simply undo the entire infrastructure and watch the entire economic infrastructure disintegrate until it meets their satisfaction.

So, let's see if i get this right.

Countrywide Financial (click here) gets bought out by Bank of America (one of the larger surviving banks today) in January 2008 and all of a sudden everything else falls apart. Subprime lending is the culprit and therefore every financial institution is tainted by this form of lending.

NOT.

It would seem as though out of seek panic, Bernanke and Paulson decide that holding everyone's feet to the fire, while freezing everything, in the way that "Mark to Marketing" can will bring about the destruction of all the 'bad credit' in the world and then they can 'ride the ignorant' in the country into the ground while having dominion over a trillion $US to power play any advantage they can get out of it.


All this HAS to occur according to Hank because there is JUST NO TIME to explain 'the plan' to Congress. So, therefore, Congress HAS to pass a trillion $US spending bill on Monday to give confidence to the markets EVEN THOUGH the details can be worked out later.

???????????????????????????????what??????????????????????????

Why would lack of details instill confidence? Simply panic? Yeah.

Others panic is NOT a problem for me or for Congress. What will result in a huge deficit for the USA while the people of this country flounder will be a windfall for people other than the ones most disaffected.

I 'do not buy' the fact that details aren't important and if others think a bill opening up that level of power to ONE man in an office in DC is reassurance, it ain't. Look who got us into this mess. And he has an answer?

I don't think so.

NOR that the consumers of the USA should not be the focus of this 'bailout.'

The Congress needs to run an investigation to the causes of 'such a rush to judgement' by Hank when in fact the 'writing was on the wall' the entire time and in plenty of time to 'have a detailed plan.'

It is an outrage that the USA Treasury which has seen many people in that Secretary's seat including a man that resigned in the first years of this administration, can't 'detail' a plan that is supposed to be worth a trillion $US. I find that blatant incompetence and the American people are AGAIN asked to carry the burden of this White House's blundering.

I think foreign banks are managing 'JUST FINE.'


AUB secures US$ 800 Million syndicated loan facility (click here)
21 September 2008
"We are extremely pleased by the response to the facility. The success of the syndication in difficult international market conditions is proof of AUB, AUB's reputation in the market and the confidence that the participating banks have in our strategies." said Michael Collis, Senior Deputy Group CEO, Ahli United Bank, Ahli United Bank.
Ahli United Bank B.S.C. (AUB or Group), Ahli United Bank B.S.C. (AUB or Group) a 40.5% rise in net profits for the first half of 2008 of US$ 211.7 million, as compared to the same period last year. Operating income to 30 June 2008 stood at a record US$ 461 million (30 June 2007 - US$ 313.1 million). As of 30 June 2008, the Group's total assets stood at US$ 27 billion, an increase of 17.4% over 31 December 2007, reflecting robust growth. The growth was funded by an increase in customers' deposits by US$ 3.2 billion (+30%). Inter-bank deposits as of 30 June 2008 rose to US$ 7.4 billion.

The Art of the Con - The entire mess has been created by good 'ole Hank. It's all in the slight of accounting handling...

U.S. Secretary of the Treasury Henry Paulson speaks during a taping of Meet the Press on September 21, 2008 in Washington, DC.
Alex Wong/Getty Images

The failed financial institutiosn were 'set up' for failure and then ridden into obsurity. It should never have happened. The Bush Bunch are incompetents.

....Mark to market rules and strict ratings may be appropriate (though unfair) in the good times as a means of preparing institutions for the bad times. That doesn’t mean they should be rigidly applied or even tightened up during the bad times. Hard exercise may boost your immune system to help stave off disease. Hard exercise after the onset of the disease may not be such a good idea.
Critics of some mild regulatory forbearance during this most serious of crises since the Great Depression will no doubt cite transparency as essential, but the two can go together. I’m not advocating hiding temporarily impaired assets. They can remain on the balance sheet with a footnote explaining the intent to hold to maturity.
It is time for common sense to come before accounting purity and cut our losses. It’s one thing to become a victim of a bad loan or a bad economy. It’s quite another thing to become a victim of unnecessarily strict accounting rules.

The time is right now to take back the country. Procrastination is a Dirty Word.

Bush wasn't even at the meeting with Congressional Leaders. What's the disconnect?

The Congress needs to 'insure' to the financial sector there will be low interest loans to secure their stability. As much as they need, but, to be paid back. This 'bailout' is nonsense. I don't believe in it and it will only serve to continue to extend this episode 'Economic Crisis.'


Bush wants the Federal Government to absorb the bad debt. No. In order to do that, the USA will become the largest Realtor on the planet. A realtor without any sales agents. The USA will become the biggest slum lord this side of Oshkosh. That real estate has to remain in the hands of private investment portfolios otherwise they will become worthless and the USA won't own anything except houses for demolition within a short period of time.

It can be argued that there is simply too many houses and commercial real estate on a continually failing economy to ever believe homes will be worth anything in the future. The basis of any average American's financial security is in the long term investment of a home. In my opinion that has been shattered and people are still not talking about this entire set of circumstances in a real way because no one wants to 'own the problem.' No one wants to admit, their monthly mortgages are being paid on real estate without intrinsic value. The ONLY aspect of real estate that continues to give it value at all, is its location. Location of valued areas of the country to live will provide value, but, in reality if someone wants a home at no cost these days it is available.

It is more realistic and more prudent to allow financial institutions to apply for regular loans at virtually no interest except for the administration costs and allow them to continue to manage their losses while continuing their incentives to develop markets and uphold value of held Real Estate. If a company has holdings that can be managed in a different way, say as rental property, then they need to look at those possiblities and move in that direction while recuperating their losses and minimizing their need for continued loans from the people of the USA.

The entire concept of 'bailing out' the FAILED POLICIES of a FAILED political party on a regular basis is hideous. Why should the people in the USA that simply 'know better' than to trust any policy a Republican comes up with, have to pay for the mistakes of those that elected them? If anything that is an incentive to continue to elect these baffoons. The 'idea' that Walker Bush can simply state, "Boy, you know we really goofed AGAIN and need more concessions from Congress to set the country back on the right path," while the morons continue to stay in office is an outrage !

Bush, Paulson and Bernanke need to be removed from office and so does Cheney. The fact of the matter is WHO CAN TRUST THESE IDIOTS? Look what they have done to this country? No one wants to admit the Democrats should be heading the government. They are the ones who now have the burden to deal with, so why not place Pelosi at the top of the Executive Branch and at least give the country the ability to 'clean house' and put expertise back in government before we simply hand over a wad of cash to businesses that went along with this moronity?'

The financial sector 'bought into' this Republican Crack Pot Economy so that Bush could be re-elected after he failed to secure the National Security from al Qaeda while entering Iraq, FOR NO GOOD REASON. Why should we have to 'handle' their failure? The government should never have bailed out Freddie, Fanny, AIG or any other financial institution. They should have opened the possiblity of allowing them to secure their further stability while they cleaned up their own mess.

You know what is going to happen here? All those bad debts the USA is buying for the "Bush Silverado Government in the Executive Branch" will end up becoming a blight, worthless and demolished and this so called 'Recuperable Bailout' will be nothing but a huge loss to the USA and add indeterminately to the USA debt. It will disaffect social programs and hinder any ability to recover this nation to the point where it was when Clinton left office.

We have a moral obligation to our children. To allow this travesty of a government plan to go forward is the worst possible outcome for everyone. Setting the financial institutions back on their feet only to allow them to do it all over again, is the most hideous effort that can occur.

We need quality in DC before we can move forward on any economic strategy that will work and we need to leave the 'bad debt' where it is while being patient in providing time in the way of very low cost loans as financial institutions work their way out of their own mess. Tack on the interest and payments on the end of any fiscal structure and as the institution begins to recover. Structure it so its managable for them. Bailouts are wrong and won't have good results; it will only prolong the economic depression.

Bush was right when he stated, '...they were all drunk.' Only it wasn't Wall Street that was, it was the electorate that can't seem to discern good government from expectedly bad government that provides personal boom-times 'if you know which way the mess is headed.'

Enough is enough !

It is high time the Republicans find out what it truly means to live a moral life as an American rather than just a morally religious life. This is the most outrageous mess this country has ever faced. Illegal and immoral war, illegal and immoral economic circumstances, unlimited domestic arms, police that have been turned into gun brigades, a backdoor draft, huge insoluable national debt, abandoned soldiers with mental illness, states without effective educational systems, loss of conservation values, energy policies that are immoral, a profound loss of national pride and international integrity, devastated outsourcing and bin Laden has been allowed to walk free for seven years while Ground Zero is still devastated.

What is wrong with America these days?

Get rid of the Republicans !

They have no policies that work and never did !

It's simply true, Palin has no experience to be President of the USA. She just doesn't. Compared to Hillary Clinton? Sarah Who?

..."I think it's a stretch to, in any way, to say that she's got the experience to be president of the United States," Hagel said in an interview with the Omaha World Herald.
Hagel also expressed concern about Palin's lack of international experience. "She doesn't have any foreign policy credentials," Hagel said "You get a passport for the first time in your life last year? I mean, I don't know what you can say. You can't say anything."...
..."I think they ought to be just honest about it and stop the nonsense about, 'I look out my window and I see Russia and so therefore I know something about Russia,'" Hagel said. "That kind of thing is insulting to the American people."...

From Arbusto to sinking the USA Economy. Those that knew warned everyone !

The Emperor has New Clothes, provided by Dick Cheney. I mean the illustration is exactly correct. Bush became President without a clue as to how to conduct the best interests of the USA and was served up priority by Cheney, now as Veep in trouble with Halliburton. There we were as a nation, off to the races with a false economy. Bushes can only be one term Presidents. They have no clue, absolutely no clue and they continue to play the Old Republican 'Scandal' of priorities.

No Taxes to provide economic development.

Since when ?

Without taxes this 'go round' who will bail out the Bush mess this time.

Silverado wasn't even close to being this much of a mess. At least the Bushes had the FDIC to wipe out before it hit the tax structure. I mean who is kidding who here? Republicans are elected to as Carpetbaggers to the Federal Treasury.

KNOCK IT OFF !!



“George W. Bush founded an oil company, a drilling company, out in west Texas called Arbusto, which was very good at drilling dry holes.”

CBS really has Palin nailed. Interesting. Palin definately has a credibility problem. She's not trustrworthy.

Gov. Sarah Palin cited unauthorized travel by a state official as an example of his "insubordination" as a reason for his termination. A new document reveals, however, that his trip to Washington, D.C. was authorized by her office. (AP Photo/Al Grillo)

Palin originally agreed to participate in the investigation, authorized in July by the Republican-controlled legislature. She told Alaskans, "Hold me accountable."

Sen. John McCain (R-Ariz.) scored 0 percent in 2007 (24 percent lifetime) due to missing all 15 votes scored...

...including the key vote on repealing tax giveaways to big oil – a measure that failed by only one vote.

McCain Supports Tax Breaks For Oil Industry -- But Not For Wind Power (click here)
By Greg Sargent- August 12, 2008, 2:55PM
Here's something else that could create political complications for John McCain in key swing states as he continues to defend measures that would maintain tax breaks for the oil industry: He recently opposed extending tax breaks for the wind-power industry.
Making this more difficult for McCain, the fledgling wind-power industry is popular in key upper Midwest and central plains states -- and here you have McCain protecting such tax breaks for Big Oil, but opposing them for Big Wind, or, if you prefer, Little Wind.
McCain recently opposed the big $300 billion farm bill, which itself is extremely popular throughout the upper midwest, describing the bill as "a $300 billion, bloated, pork-barrel-laden bill" because of subsidies for industries like ethanol.
But in a little-noticed development, the bill also contained a measure extending a tax break for developing wind power, which McCain specifically opposed. Obama backed it. According to Senator Tom Harkin, an Obama ally, the wind energy industry is employing close to 2,000 people, some concentrated in those key swing states. It's little local issues like these that can move votes in states where the voting is expected to be extremely close....

Is the responsiblity of the Executive Branch to STOP catastrophe?

Beginning with The China Spy Plane Incident, followed by September 11, 2001 and through his entire administration, including Katrina, this Executive Branch did nothing to prevent disaster. The current financial crisis is another example of "The Same Old Mistakes."

Is it such a surprise that Ron Paul realized the extreme circumstances facing the USA under this administration? No. You had to be profoundly out of touch with reality not to see this coming. No needed a crystal ball to predict what was to come for the financial markets. What does that say about Paulson as well?

Ron Paul saw this financial mess coming (click here)
It's not like there wasn't anybody who saw the economic woes of the week on the horizon.On Sept. 10, 2003, U.S. Rep. Ron Paul, R-Texas, testified before House Financial Services Committee, which was holding hearings regarding special privileges extended to government sponsored enterprises (GSEs). Think Fannie Mae and Freddie Mac. In his testimony. Paul criticized such privileges in general and warned of the potential for disaster posed by government involvement with Fannie and Freddie specifically. Paul noted that according to the Congressional Budget Office, housing related GSEs received $13.6 billion in indirect federal subsidies in fiscal 2000 and had a line of credit with the United States Treasury exceeding $2 billion. That line of credit Paul said was an explicit promise by the Treasury to bail out GSE's in times of economic difficulty. (Sound familiar?)

The Resiliency Virus

Only a few were designed to survive. I made a rather crude model of the current trend to the virus rocking the financial sector.

I should state up front, I don't appreciate Canada and Great Britain placing their assets as risk to save a contemplated assault of the Bush White House. The stage was set by Georgie's folks and probably began with his first cabinet, but, in all honesty 'the timing' for the arrival of Hank Paulson is perfect.

The table is rather simple to follow. The financial institutions are listed from the NY Times multi-media article that connects when one clicks on the title to the entry.

If you click on the picture graph above it will enlarge for easy reading. Didn't care to put labels on the x and y axis, sorry, didn't think they were absolutely necessary, actually.

So, I suppose a splash of color would have been better, but, if you can't figure this simple illustration out when in black and white then you are a very sad soul indeed.

The numbers on the x-axis, that's the bottom if your moron content is high, match the financial insitutions in the column on the left, which are crudely abbreviated. Check the NY Times interactive if you need the complete names.

At any rate there are two bar graphs for each banking institution. One is the assets the institution had a year ago and the other is the PERCENTAGE of loss they have suffered until September 12, 2008.

You see, this was all very, very predictable. The financial institutions on the right of the graph are the onces with the lowest total 'worth' a year ago. All of them have been consumed by the 'Resiliency Virus' as it spread its wicked little 'Domino Effect' across the spectrum of failure. I honestly don't know where everyone has been looking but this is child's play actually. What concerns me more than anything is that our allies are getting involved as if its some kind of war.

IT ISN'T AT ALL A WAR, so much as a sovereignty issue and if there is not enough prudent maneuvers to protect themselves they will go where the USA is now, INSOLVENT. I mean you have to know that the USA dollar isn't worth the paper its printed on by now.

At any rate, here is the solution. Dear Gordon Brown and Steven Harper have a solution. Stop bailing out the USA to begin with. Vladimir might want to pay attention as well. The solution is simple. Ready?

The virus is designed to 'take out' the financial institutions that have the least assets. That doesn't mean they were poorly managed or deserved to be dissolved, it simply means they were the MOST VULNERABLE. So everyone can stop pointing figures at Bear Sterns thinking they are 'one up' on great management, 'CAUSE, you ain't. As a matter of fact, Bear Sterns is probably one of the best managed insitutions to hold out as long as it did, so some lessons in decision making can be learned from that Long Lived financial institution. But, I am sure I am boring everyone, so let's just get on with it.

Excluding Goldman Sachs, the best way to 'attack the Resiliency Virus' is to secure those institutions still in practice and I wouldn't be so quick to simply 'gobble up' insitutions like Merril or even Bear Sterns. Here is the deal.

The survivors are simply this, JP Morgan, Bank of America and Citibank have assets, but, it won't hold up without the backing of some solid sovereign authority and I AM NOT TALKING GOVERNMENT 'TAKE OVER.' What these 'survivors' need is to 'push back' against the trend. Ignore every other investment and make 'mega-institutions' out of the survivors. Literally, a battery of banks, uncontaminated by Bush/Paulson, that have the ability to absorb large investments through Government Loans to REINSTILL the less institutions already disaffected.

SORT OF LIKE 'BIG BROTHERS' if you can excuse the genderization of it all.

Basically, there was absolutely nothing wrong with the institutions that failed. What occured was manipulation of the Bush White House to destroy the USA's fiscal infrastructure to sink long standing institutions such as Social Security. It was purposeful and planned and no one should ever believe differently.

To maintain 'the integrity' of the fiscal institutions that will assist the others back on their feet, so to speak, is paramount to a good outcome. I strongly feel government take over of any of these institutions is plainly wrong. However, the 'reinfusion' of CONFIDENCE and plain old money into the surviving institutions to faciliate 'regrowth' of the fiscal sector will not only provide stability, but, also produce growth. Eventually. As these mega-banks reinfuse the financial sector it will be done prudently and purposefully and without government/political priorities. This is a sovereignty issue, because to fail is to be gobbled up by the Resiliency Virus and certain monetary demise. Not only that, but, it will certainly give Bin Laden a great deal of pride to say he was responsible when he had nothing to do with it. Who needs that kind of jihadist around the globe.

Now, look, these loans have nothing to do with government debt in the long run, because the financial sector is going to pay them back. It's just that time and patience and some tailor made solutions through a sensitive BUT WISE legislative process will be necessary. Government is very important in this process. The institutions will have to keep open and honest communication and audits available nearly continuously until all is resolved.

Now. This is doable and it will work. No national debt load in the long run means that a country can ask very low lending costs to these 'survivor' institutions with the understanding they will rebuild the lost infrastructure.

Goldman Sachs can take a hike and DON'T TRUST THEM to do the best thing for the best outcome.

Good luck, I'm watching !!!

How do you win an election in Israel?

By promising to annihilate every Hamas in Gaza. Ms. Sunshine she ain't. But she is also not going to begin the Third World War either !


The file photo taken on September 15, 2008 shows Israeli Foreign Minister Tzipi Livni smiling during a meeting with her Spanish counterpart Miguel Angel Moratinos in Tel Aviv, Israel. Final results released by Israel's ruling Kadima party early Thursay showed that Foreign Minister Tzipi Livni won the party's primary, local news service Ynet reported. (Xinhua/Yin Bogu)

Divisions within Israeli parties is not unusal, but, this is the first profound split in Kadima.


Kadima deeply divided after Livni's victory, Mofaz's Exit (click here)
By Yossi Verter
On the eve of the Kadima primary, Shaul Mofaz was asked about threats by Tzipi Livni and Roni Bar-On to quit Kadima if he won. "Livni is not a loyal person," he said angrily. "Kadima is holding democratic elections for the first time and MKs will refuse to accept the results?" He pledged that if he lost, he would stay and help the elected leader.....