I thought the lesson was to suspend mark to market and repeal sarbox but that’s just me :)
Funny. I don’t see much in there about holding politicians accountable for their crimes.
Living under the pretense that Judeo-Christian ethics may be sequestered to the private life of the individual but carry zero sway in informing all areas of social conduct created a moral vacuum which the pressures of reality now rush to fill. The bailout only enables the problem further. It may dull the "thud" of a rough landing, but the changes that need to occur if we are to survive economically are fundamentally ethical in character.
4 later
Now that the cat is out of the bag, we’ll start seeing more cities try to take advantage of the current situation by tossing off the onerous weight of their union pensions.
There is no way any of them can meet current and future pension requirements.
The Democrats will be fun to watch during this.
Dumbest thing I’ve seen written about this so far. Secularists? Give me a friken break.
I’m not a stock broker and have never been a stock broker, but I’ve got IRA’s invested in stocks and have had a 401K before (kind of glad I didn’t bother with opting in for one the last time I had the opportunity to). But I’m still angry about all this and figure I have a right to be, unlike the finance shysters who thought bad mortgages were good investments. It would be nice to think that I save my money instead of giving it away to the government, inflation, or hundreds of new penny stocks.
Those stupid old Birchers have been warning what would happen when a country turns the world upside down.
Robert Welch and others called it “The DESTRUCTION OF THE ABSOLUTES.”
That destruction has been nearly total.
And the cost is only now being counted.
If I have to leave it all behind and go walkabout, who knows, it might be interesting.
If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land. -2 Chronicles 7:14
That goes for the people, the churches, the business community, and the government! We have knowingly, purposefully sown the wind, and we now stand to reap the whirlwind. If we do not return to the faith of our fathers, we walk toward our certain doom.
Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other. -John Adams
This is the reason for insisting upon principle- and upon principled leaders.
Vain people don’t stop indulging in their pride and wronging others, until they are severely punished.
We're off to a grat start; stealing 700 Billion dollars from the US Taxpayer for Hank Paulson to buy worthless securities (that he will appraise) from his associates.
No chickens coming home to roost here. Those responsible are walking away scott free.— The people who paid no taxes, but got a free home with no investment, the bankers who gave them lousy mortgages , the creeps at Fannie and Freddie who walked away with millions and the crooked politicians who fought for this economic mess are now all “bailed out”. The chickens are roosting on the backs of honest taxpayers who did nothing wrong.
Mark for later.
THE COUNTRY’S IN THE VERY BEST OF HANDS
From the Musical “Lil’ Abner” (1956)
(Gene de Paul / Johnny Mercer)
Them city folks and we-uns are pretty much alike,
Though they ain’t used to living in the sticks.
We don’t like stone or cement, but we is in agreement
When we gets down to talkin’ politics:
The country’s in the very best of hands,
the best of hands, the best of hands.
[Note: the above two lines are interspersed among
all the verses and wherever else needed.]
The Treasury says the national debt is climbing to the sky
And govermnent expenditures have never been so high.
It makes a feller get a gleam of pride within his eye,
to see how our economy expands,
The country’s in the very best of hands.
You ought to see the congress when it’s drawing up a bill,
“Where as”’s and “to wit”’s are crowded in each codicil.
Such legal terminology would give your heart a thrill.
There’s phrases there that no one understands.
The country’s in the very best of hands.
The building boom, they say, is getting bigger every day.
And when I asked a feller “How could everybody pay?”
He come up with an answer that made everything OK,
“Supplies are getting bigger than demands.”
The country’s in the very best of hands.
Don’t you believe them congressmen and senators are dumb.
When they run into problems that are tough to overcome,
They just declare a thing they calls a moritorium.
The upper and the lower house disbands.
The country’s in the very best of hands.
The voters are connected to the nominee,
the nominee’s connected to the treasury.
When they ain’t connected to the treasury,
They sits around on their thigh bones.
They sits around in this place they got,
This big congressional parking lot.
Just sits around on their you know what.
Up there they call them their thigh bones.
Them bones, them bones gonna rise again,
Gonna exercise a franchise again,
Gonna tax us up to our eyes again,
If we gets them off of their thigh bones.
The farm bill should be 89 percent of parity,
Another feller recommends it should be 93.
But 80, 95 percent, who cares about degree?
It’s parity that no one understands.
The country’s in the very best of hands.
Them GOP’s and Democrats each hates the other one.
They’s always criticizing how the country should be run.
But neither tells the public what the other’s gone and done.
As long as no one knows where no one stands,
The country’s in the very best of hands.
They sits around in this place they’re at,
Where folks in congress have always sat.
Just sits around on their excess fat,
Up there they call them their thigh bones.
They sits around ‘til they start to snore,
Jumps up and hollers “I has the floor!”
Then sits right down where they sat before,
Up there they call them their thigh bones.
Them bones, them bones gonna rise again
So dignified and so wise again
While the budget doubles in size again,
If we gets them off of their thigh bones.
The money that they taxes us, that’s known as revenues,
They compound up collaterals, subtracts the residues.
Don’t worry ‘bout the principle and interest that accrues,
They’re shipping all that stuff to foreign lands,
The country’s in the very best of hands.
The “greed” of conservatives/republicans caused this economic mess. Isn't that what they viciously declare from the bully pulpits of the House and Senate.
Yet our core philosophy isn't one of ‘greed,’ now is it. Just like our core philosophy isn't one of fascism as Jonah Goldberg points out in his book Liberal Fascism.
The left is running another potentially successful morality campaign against us. WE are allowing them to define it, preach it, and dish up our guilt. When it was they who removed fiscal morals from the public square.
Re Congressmen w/balls....
Reminds me of the small numbers at Alamo....and a lotta places around this old globe!
http://gunnyg.wordpress.com/2008/10/05/3831/
Read “Democratic Capitalism” by Michael Novak.
(Bush used this term in one of his addresses about the bailout)
Democratic capitalism rests on a 3-legged stool.
Rule of law
Individual liberty and private property rights.
Moral restraint on behavior
All our lawmakers are focusing on “the root cause” being Wall Street greed-
All are ignoring the failure of personal moral restraint in Congress, the Executive Branch and yes... Main Street.
Joe Biden said paying taxes is patriotic.
No one will say to Main Steet- don’t borrow what you cannot repay. Don’t lie. Dont expect all of us to feel sorry if you are too stupid to manage money.
It is stealing.
Paying back your loans you agreed to, even if your house sinks in value for now, is the moral thing to do.
...