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February 17, 2009 - David Letterman - Top Ten Things Hillary Clinton Wants To Accomplish On Her Trip Overseas

10 Exchange U.S. dollars for currency that's worth something

9 Win respect defeating Japan's top-ranked sumo wrestler

8 Shift world's perception of America from "hated" to "extremely disliked"

7 Personally thank all of her illegal campaign donors

6 Three words: stylish Indonesian pantsuits

5 Visit burial site of revered Chinese military leader, General Tso

4 Get drunk with that Japanese finance minister guy

3 Convince China to switch from lead-tainted products to mercury-tainted products

2 Catch Chinese screening of Benjamin Button entitled "The Strange Adventures of Freaky Grandpa Baby"

1 Pick up carton of duty-free smokes for Obama

February 16, 2009 - David Letterman - Top Ten Things Abraham lincoln Would Say If He Were Alive Today

10 "Sup?"

9 "I see Madonna's still a slut"

8 "Who's that handsome sumbitch on the five?"

7 "Is that free Grand Slam deal still going on at Denny's?"

6 "I just changed my Facebook status update to, Tthe 'ol rail splitter is chillaxing'"

5 "How do I get on 'Dancing with the Stars'?"

4 "Okay, Obama, you're from Illinois, too. We get it!"

3 "Hey Phelps, don't Bogart the weed!"

2 "What's the deal with Joaquin Phoenix?"

1 "A Broadway play? Uhhh, no thanks. I'm good."

January 28, 2009 - David Letterman - Top Ten Things Overheard at the Meeting Between Barack Obama and the Republicans

10 "I miss the Clinton administration when we'd meet at Hooters"

9 "Can we wrap this up? I've got tickets to the 4:30 'Paul Blart: Mall Cop"

8 "Smoke break!"

7 "You fellas really need to take it easy on the Old Spice"

6 "Mr. President: don't misunderestimate the Republicans"

5 "Another smoke break!"

4 "What was the deal with Aretha Franklin's hat?"

3 "About that tax the rich stuff -- you were joking, right?"

2 "Sir, it's refreshing to have a Chief Executive who speaks in complete sentences"

1 "Senator Craig's offering his stimulus package in the men's room"

January 27, 2009 - David Letterman - Top Ten Ways Rod Blagojevich Can Improve His Image

10 Star in new television series, "America's Funniest Haircuts"

9 Quit politics and become a fat, lovable mall cop

8 Start pronouncing last name with Jerry Lewis-like "BLAGOOOYYYJEVICH"

7 Offer a senate seat with no money down, zero percent interest

6 Team up with John Malkovich and Erin Brockovich for hot Malkovich-Brockovich-Blagojevich sex tape

5 Change his name to Barod Obamavich

4 Safely land an Airbus on the Hudson River

3 I don't know...how about showing up for his impeachment trial?

2 Wear sexy dresses, high heels and say, "You Betcha!"

1 Uhhh...resign?

January 16, 2000 - David Letterman - Top Ten Signs Obama's Getting Nervious

10 New slogan: "Yes we can... or maybe not, it's hard to say"

9 In moment of confusion, requested a $300 billion bailout from the bailout industry

8 He's up to not smoking three packs a day

7 Friends say he's looking frail, shaky and...no, that's McCain

6 He's so stressed, doctors say he's developing a Sanjay in his Gupta

5 Been walking around muttering, "What the hell have I gotten myself into?"

4 Offered Governor of Illinois, Rod Blagojevich, $100,000 to buy his old Senate seat back

3 Standing on White House roof screaming, "Save us, Superman!"

2 Sweating like Bill Clinton when Hillary comes home early

1 He demanded a recount

January 8, 2000 - David Letterman - Top Ten Barack Obama Plans To Fix The Economy

10 Encourage tourists to throw spare change in the Grand Canyon

9 End our dependence on foreign owls

8 Sell New Mexico to Mexico

7 Put a little of that bailout money on the Ravens plus 3 at Tennessee. Come on! It's a mortal lock!

6 Rent out the moon for weddings and Bar Mitzvahs

5 Lotto our way out of this son-of-a-bitch

4 Appear on "Deal or No Deal" and hope to choose the right briefcase

3 Bail out the adult film industry -- not sure how it helps, but it can't hurt

2 Release O.J. from prison, have him steal America's money from China

1 Stop talkin' and start Obama-natin'!

January 7, 2000 - David Letterman - Top Ten Things Overheard At The Presidents' Lunch

10 "Sorry, you're not on the list, Mr. Gore"

9 "If Hillary calls, I've been here since Monday"

8 "Laura! More Mountain Dew!"

7 "You guys wanna see, 'Paul Blart: Mall Cop'?"

6 "Call the nurse -- George swallowed a napkin ring!"

5 "Hey Barack, wanna go with us to Cabo in March? Oh that's right, you have to work!"

4 "Kissey kissey"

3 "Obama? I think he's downstairs smoking a butt"

2 "Did you ever see a monkey sneezing?"

1 "I hope Clinton's unbuckling his belt because he's full"

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April Fools

Lately there has almost been an organized effort, a continous trickle of emails imploring Big Pink to go away. “Stop being bitter!”, “stop writing those mean things about Obama”, “why are you calling Michelle Obama ‘Mary Todd’ and ‘lantern-jawed’, and mocking her sleeveless look”, “Obama is doing the best he can so leave him alone”, “forget about last year and the year before that”, “forget about what happened during the primaries and the general election”, “Hillary has made peace and moved on, why don’t you”.

These are the same people/fools who DEMAND a “truth commission” or “investigations” or “prosecutions of Bush crimes”. These fools “won’t let go” but they otherwise want us to let “bygones be bygones”. We want to investigate Bush and Obama.

Some of these fools are well educated. One website that is run by well educated lawyers trashed Sarah Palin about her daughter’s behavior and her mother-in-law’s behavior, held a perverse “lottery” to determine when Palin would withdraw, chose Obama because he was the “media darling”, and acually dared to declare Obama will be one of our greatest presidents – comparable to FDR.

The same lawyer/owner denounces Hillary supporters who refused to reward sexism and misogyny with votes as “revenge voters”. However on issues of importance to the lawyer/owner of that website it was something other than “revenge” when she announced that “Biden is a deal breaker” if Obama chose him even though she thought it was a “moot issue” because Obama would not choose Biden. “I won’t vote for such a pro-law enforcement, pro-drug war, pro-wiretapping candidate to be one step away from the presidency” declared that outraged lawyer/blogger.

‘But won’t that elect McCain?’ questioned a commenter. Responded the lawyer/blogger: “That would be the point to keep Biden from getting to the White House. My intent would be for a ticket with Biden on it to lose.”

That was then. Now, that lawyer/blogger is upset with “The Cost of Obama’s Expanded War in Afghanistan“. But don’t say that the primary and general elections are lessons about Obama to this reality show obsessed Palin hating blogger. “this has nothing to do with the election“. Let’s move beyond that old argument and try to be constructive in our criticism. There’s no need to throw the baby out with the bath water every time the President makes a decison we disagree with. How about trying to show him why he’s wrong instead of attacking him? That strategy worked real well after Obama lied to them regarding FISA didn’t it?

The email demands that we stop “attacking” the Chicago Mess-iah, Barack Obama, will continue to flow. The whines to stop being mean to lantern-jawed Mary Todd Michelle and the self-professed “Abe” will continue. We tried to explain it to the fools when we wrote:

Then, of course, there are our detractors. Everyday they spend countless hours scouring our website and racking their brains looking for ways to distract us from our tasks. Perhaps we need to explain to them that the new age of Youtube political campaigns means the dirty deeds of campaigns now no longer disappear after election day.

As the burdens of Hopium addiction grow our detractors wish with increasing fervor that we would go away and stop reminding them of their historic mistake in supporting uncritically the Chicago Mess-iah.

Like regretful purchasers of a car that is in fact a “lemon” our detractors just want us to go away. They fear the mess Obama is about to create and they dread the day when we say “We told you so” and finally, finally, they agree with us.


* * * * *

What fools these taxpaying mortals be. Today is a treasure trove of foolery.

Trillions of dollars wasted on fools by fools while everyone is looking the other way or getting distracted. We don’t get distracted – first follow the money:

Elizabeth Warren, the law professor appointed as Congress’s oversight czar on bank bailouts, blasted the Treasury Department — saying new legislation might be needed to give the House and Senate more access to details of the $700 billion rescue program.

Warren, testifying before the Senate Finance Committee Tuesday morning, said keeping Congress in the loop isn’t a “priority” of Secretary Tim Geithner — and suggested a possible “next step” would be to pass legislation that would “require [Treasury] to consult” with her. [snip]

Warren, who was sharply critical of Geithner’s predecessor Hank Paulson for allegedly underestimating public exposure to bank losses, said he office has “substantial questions about AIG, TALF… how many acronyms can we do here?”

She added that Treasury has given her “no articulation of what [the bailout] is supposed to accomplish” and lamented the fact that “we have no way to measure” its success.

Congress and the American people have been cut out of the conversation,” she said.

It’s American taxpayer money, but apparently Obama does not think we should know how it is spent.

Obama’s friends and biggest primary supporters have problems paying taxes unless caught – they are not taxpaying fools.

Health and Human Services nominee Kathleen Sebelius recently corrected three years of tax returns and paid more than $7,000 in back taxes after finding “unintentional errors”—the latest tax troubles for an Obama administration nominee.

The Kansas governor explained the changes to senators in a letter dated Tuesday that the administration released. She said they involved charitable contributions, the sale of a home and business expenses.

Sebelius said she filed the amended returns as soon as the errors were discovered by an accountant she hired to scrub her taxes in preparation for her confirmation hearings. She and her husband, Gary, a federal magistrate judge in Kansas, paid a total of $7,040 in back taxes and $878 in interest to amend returns from 2005-2007. [snip]

Several Obama administration nominees have run into tax troubles, notably the president’s first nominee for HHS secretary, former Senate Democratic leader Tom Daschle. He withdrew from consideration while apologizing for failing to pay $140,000 in taxes and interest.

American taxpayers are losers and fools if they don’t oppose Obama:

THE Obama administration’s $500 billion or more proposal to deal with America’s ailing banks has been described by some in the financial markets as a win-win-win proposal. Actually, it is a win-win-lose proposal: the banks win, investors win — and taxpayers lose.

Comedies of errors and bad manners are always centers of foolery. We think the first sentence says a great deal:

The gifts have been selected with extra care, protocol lessons on royal etiquette are being delivered and a week’s wardrobe of casual and formal attire set aside for a first lady who is also an international style icon. President Barack Obama and his wife Michelle head to London on Tuesday to start their first overseas tour in office, accompanied by an entourage of several hundred aides, advisors, secret service agents and bodyguards and an imported cavalcade of armoured vehicles and helicopters. [snip]

The Obamas will attend a private audience with the Queen in her personal apartments for nearly 30 minutes before joining other delegations for a reception in the state rooms. They are receiving advice on protocol for the encounter at the presidential retreat, Camp David, this weekend.

The White House is attempting to pick out an appropriate gift for the Queen that will reflect her long-standing links to the US, a Washington official told The Sunday Telegraph. The choice of present is the subject of intense scrutiny after Mr Brown received a box set of DVDs during his trip to Washington earlier this month – a gift widely seen as a snub to the leader of America’s closest ally.

What was the result of hundreds of aides scratching their heads to think of an appropriate gift to make up for the Brown DVDs and a gift which would reflect our “long-standing links”? Mary Todd and Abe showed up at the British monarch’s glorious castle with Mary Todd Michelle’s sleeves rolled up as if she were ready to pick radishes in the White House garden, and presented the reigning queen of England with an I-pod. The British monarch already has an I-pod. So much foolery.

The biggest fools in April and every month on the Obama worshiping PINO bloggers. They are upset. Obama treats them like dirt as do the now in office Dimocrats and Democrats. So these PINOs blame Blue Dog Democrats who they help elect over and over. Now the PINO bloggers want to “punish” the Blue Dog Democrats to show their “muscle”. 98 pound weaklings should keep their shirts on or risk looking like fools.

As David already discussed earlier today, President Obama has not yet met with the Congressional Progressive Caucus, even though he has met with every other group in Congress (Blue Dogs, New Dems, House Republicans, etc). Some Progressive (capitalized because it signifies a member of the caucus, rather than just anyone who calls him or herself a progressive) are feeling slighted by this. I am going to chime in and agree with the general sentiment in the comments to David’s post: rather than feeling slighted, Progressives need to start throwing more weight around so that such a meeting is required, rather than an act of politeness.

There are lots of ways that Progressives could be throwing their weight around, but are not. The most obvious current misuse of Progressive strength is the inability to maximize their, and our, strength among small donors. Progressives have enormous potential fundraising ability that can match the large donor and corporate PAC money other ideological caucuses and networks can provide to their members. This fundraising is a major reason why candidates join these groups, and progressives can do the same thing. Unfortunately, we don’t use our networks as well as we should.

The blogosphere gets pretty angry at Blue Dogs and New Democrats on a regular basis. [snip]

However, from 2004-2008, and even in the excitement over the NY-20 special election next Tuesday where the Democrat has already declared himself to be a Blue Dog, I’d wager that a similar proportion of netroots congressional donations have gone to electing Blue Dogs and New Democrats (specific numbers are not available right now because the current caucus membership lists are not available). It is kind of a perverse cycle: we give huge amounts of money to Blue Dog and New Democratic candidates, and then we spend a huge amount of our time complaining about Blue Dog and New Democratic members of the House. We are funding our own complaints.

These fools are giving money to the very officials who hold them in utter disdain and contempt. They are fools. They are rewarding the very people who treat them like dirt. Hint: we Hillary supporters do not reward sexists and misogynists, even when they are Democrats or even women, with our votes or dollars. We do not support those who oppose our principles.

We are sure that the PINO blogs will not be called “bitter” if they wake up to their foolishness of supporting those that hold them in contempt. These late-blooming fools will continue to support Democrats, even Blue Dog Democrats because they have no where else to go. The time for these PINOs to oppose Obama was every time Obama lied to them as during the FISA lies. The PINO blogs make fools of themselves and their readers.

Mainline “women’s groups” are also fools (especially the Obama endoring creeps at NARAL):

Tim Kaine, the Virginia governor and President Barack Obama’s hand-picked choice as the head of the Democratic National Committee, infuriated abortion-rights groups Monday by signing legislation that gives abortion foes a long-sought victory.

Kaine brushed off intense lobbying by abortion rights supporters in Richmond to sign a bill that allows Virginia motorists to advertise their anti-abortion views by sporting “Choose Life” specialty license plates.

Thomas Sowell is not a fool, he must be a racist – one of those clever racists who disguised himself at birth as an African-American in order to call Obama a fool:

Someone once said that, for every rookie you have on your starting team in the National Football League, you will lose a game. Somewhere, at some time during the season, a rookie will make a mistake that will cost you a game.

We now have a rookie President of the United States and, in the dangerous world we live in, with terrorist nations going nuclear, just one rookie mistake can bring disaster down on this generation and generations yet to come.

Those Republicans and Independents who believed they could trust “celestial choirs” Obama to be “bipartisan” are fools.

Republicans, on-line activists from the right who do not trust Obama should not take Hillary supporters for fools. We will fight alongside those who seek to hold Obama accountable and we will assist with the April 15 “tea parties” but we will not tolerate attacks on Hillary by our “allies“. If Republicans and on-line activists from the right want an united front against Obama – Hands Off Hillary. If Republicans and on-line activists do not know what they are up against – we are the experts and they need us to fight the organized attacks from Obama thugs:

Much of Mr. Obama’s vaunted online strategy involved utilizing “Internet trolls” to invade enemy lines under false names and trying to derail discussion. In the real world, that’s called “vandalism.” But in a political movement that embraces “graffiti” as avant-garde art , that’s business as usual. It relishes the ability to destroy other people’s property in pursuit of electoral victory.

Hugh Hewitt’s popular site shut off its comments section because of the success of these obnoxious invaders. Breitbart.com polices nonpartisan newswire stories for such obviously coordinated attacks. Other right-leaning sites such as Instapundit and National Review Online refuse to allow comments, knowing better than to flirt with the online activist left.

Hillary supporters know how to fight the Obama thugs. We fight them every day. If others who want to fight Obama want our help – Hands Off Hillary. SoldierForHillary agrees with us.

We will fight alongside allies, but we won’t be fools for them.

We will teach from the history of the primary and general elections the lessons to be learned.

We will continue to expose the fools of April and every other month.

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120 comments to April Fools

  • admin

    Ted Stevens and all the voters in his election have been made fools of too:

    http://www.washingtonpost.com/wp-dyn/content/article/2009/04/01/AR2009040100763.html?hpid=topnews

    The Justice Department this morning asked a federal judge to toss out the conviction of former senator Ted Stevens (R-Alaska) on corruption charges.

    The move comes as the judge was preparing to conduct hearings to probe allegations of prosecutorial misconduct by the team that tried one of the most powerful Republicans in Congress last year. The request, made in a court filing, caps the controversial prosecution of Stevens, who requested an early trial to clear his name but was convicted just days before he lost a reelection bid.

    Stevens’s attorneys have urged U.S. District Judge Emmet Sullivan to drop the case and prevent prosecutors from seeking to retry the former senator. They have argued that prosecutors with the Justice Department’s Public Integrity Section withheld key pieces of evidence and mishandled witnesses.

    Sullivan, who presided over the case, scheduled a hearing on the government’s request for Tuesday.

    Stevens, 85, was convicted of seven counts of making false statements on financial disclosure forms to hide about $250,000 in gifts and free renovations to his Alaska home.

    During the trial, Sullivan chastised prosecutors several times for how they handled witnesses and evidence. In one instance, Sullivan said he had “no confidence in the government’s ability” to give the former senator a fair trial after they acknowledged failing to give defense lawyers information that would have helped their case. He told jurors on at least two occasions to ignore evidence introduced at trial by prosecutors because he felt they had acted improperly.

    Since the conviction, the Justice Department has disclosed a memo written by an FBI agent who complained about many of the same things. In February, Sullivan held three prosecutors in contempt for failing to comply with a court order. Six members of that prosecution team withdrew from the case in matters dealing with allegations of misconduct. A new team of prosecutors then began to review the case.

    In a statement, Attorney General Eric H. Holder Jr. said he and other Justice lawyers had reviewed the case and “concluded that certain information should have been provided to the defense for use at trial.”

    “In light of this conclusion, and in consideration of the totality of the circumstances of this particular case, I have determined that it is in the interest of justice to dismiss the indictment and not proceed with a new trial,” Holder said.

  • admin

    And those that believed Obama’s read my lips no new taxes pledge are also fools:

    http://www.breitbart.com/article.php?id=D979POSG0&show_article=1

    One of President Barack Obama’s campaign pledges on taxes went up in puffs of smoke Wednesday.

    The largest increase in tobacco taxes took effect despite Obama’s promise not to raise taxes of any kind on families earning under $250,000 or individuals under $200,000.

    This is one tax that disproportionately affects the poor, who are more likely to smoke than the rich.

    To be sure, Obama’s tax promises in last year’s campaign were most often made in the context of income taxes. Not always.

    “I can make a firm pledge,” he said in Dover, N.H., on Sept. 12. “Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.”

    He repeatedly vowed “you will not see any of your taxes increase one single dime.”

    Now in office, Obama, who stopped smoking but has admitted he slips now and then, signed a law raising the tobacco tax nearly 62 cents on a pack of cigarettes, to $1.01. Other tobacco products saw similarly steep increases.

  • turndownobama-com

    henry,

    It might be possble to fadge together something that would bring in current news from certain sites (not just puma or even blogs) that have proved to have a good percent of non-koolaid. Such as Rasmussen, “Top of the Ticket” blog at LAT, Bonnie Erbe, Greta at Fox….

    It wouldn’t look fancy….

  • wbboei

    The problem with so many bots is not just the problem of being wrong. Anyone can be wrong. What separates winners from losers is that winners have the ability to recognize their error and correct it. Losers like most bots have neither the judgment or the courage to recognize their error and say I was wrong about Obama. And from this day hence the anwer to him will be no, always no. No, because before this thing is through he will repudiate them and everything they believe in.

  • JanH

    Admin,

    I am in awe! Excellent! Excellent! Excellent!

    “Obama is doing the best he can so leave him alone???”

    Well his best is not good enough! In fact it is pretty dismal, extremely embarassing, and his tenure will go down in history as being the one time a president outdid the three stooges in stupidity.

    Admin, you must be doing something right if so many are emailing you and reading your articles!

    Well done!

  • wbboei

    When our country sinks to this level of delusion and when big media engages in this level of thought control and no one dares question a cult figure then the only thing that cleans out the system is some kind of gotterderung. I do not hope for it believe me, but I am beginning to think it is inevitable. No one in power is willing to face the facts and those of us that are are as powerless as the steerage hands who tried to tell the captain of the Titanic t be leary of the ice bergs.

  • admin

    JanH, we have thought of printing some of those barely literate communications but it would only encourage them. And yes, there are many whines.

  • wbboei

    No Eric Holder you corrupt public official. This is not something you slip under the rug to curry favor with the other party. That is Illionis Combine rules, not legitimate legal process.

    What is in the interests of justice is to disbar those prosecutors, charge them with prosecutiorial misconduct and order a new trial with a new jury and full disclosure. I say that as a former supporter of Stevens, but no one is above the law. Since Stevens was convicted I doubt there is any problem with double jeopardy.

  • djia

    “we will not tolerate attacks on Hillary by our “allies“. If Republicans and on-line activists from the right want an united front against Obama – Hands Off Hillary.”

    ADMIN [with your/our dukes up & ready]…….BRAVO!!!

  • wbboei

    A prosector has the power to indict a ham sandwich. When he witholds exculpatory information its to Joliette prison he should go.

  • HillaryforTexas

    GREAT post, admin.

    Those opposed to Obama would do well to want us on their side, because we know the Obot Hive’s tactics, and where the bodies are buried. But be forewarned: DO NOT F*#K WITH US, OR WITH HILLARY.

    I find 0bama to be one of the greatest dangers my beloved country has ever faced, and I WILL join hands with those who share the goal of stopping him. If a Republican says something sane, and reasonable, then I will agree, as it’s the sane thing to do. But do not for one minute think you can shiv me in the side unawares, because I am not for one minute fooled. I am allergic to Kool-aid, whether Blue or Red.

    We are TRUE Democrats, and will continue to fight the Boob and the petulant, foolish, starry-eyed child-army who foisted him on us.

    If you think we have given up our ideals, think again. We have held to them in the face of more sh*t than most, and are all the stronger for it.

  • djia

    dang wbboei….. you make me look up a ton of words here…. but that’s a good thing……i feel like i am getting smarter every day LOL!!

    Götterdämmerung: The term Götterdämmerung is occasionally used in English, referring to a disastrous conclusion of events.
    en.wikipedia.org/wiki/Götterdämmerung

  • wbboei

    And those that believed Obama’s read my lips no new taxes pledge are also fools:
    ————————-
    Big media would say this is what all presidents do, then invent some lie about Bill Clinton, and then assure everyone that all their messiah is doing is moving to the center. The center alright– between Hitler and Stalin.

  • djia

    going out for the evening with the hubby…..finally some time together

    will re join the conversation later tonight.

    have a good evening

  • basil9

    Admin,

    If I had not had this site to turn to for confirmation of what I was seeing during the primaries and continuing to this day, I may have concluded I was paranoid, misanthropic and just plain wrong about BO and the dimocrats.

    luckily for me, I stumbled on to this site and while I haven’t always liked what I’ve seen, IMHO, truth is better than delusion no matter how painful it may be.

    BTW, i forgot to compliment you on this delightful turn of phrase from yesterday’s thread.
    “we found lantern-jawed, scowling, Mary Todd Michelle Obama furiously yanking sleeves off dresses while frantically poring over old traveling Jackie-O photographs.”

    ROTF!!!!!!!!

  • JanH

    Admin,

    A non-koolaid drinking psychiatrist would have a field day with those emails. Why do they feel so threatened? So afraid? Why do they keep coming back?

    so sad…NOT!

  • NewMexicoFan

    JanH

    You are entirely right. People like that are insecure, as others do not say Amen to what they believe. Sounds like O.

  • JanH

    US says it will cut frequency of China talks

    By MARTIN CRUTSINGER – 2 hours ago

    WASHINGTON (AP) — The Obama administration said Wednesday it will continue high-level talks with China started under the Bush administration, but will only hold one per year while expanding the scope beyond economics to foreign policy. Announcing the change, Treasury Secretary Timothy Geithner and Secretary of State Hillary Clinton said the first meeting in the new administration will take place this summer in Washington.

    Former Treasury Secretary Henry Paulson began the high-level talks in 2006 during a time of growing tension over America’s soaring trade deficit with China. American manufacturers charged that China was manipulating its currency value to gain trade advantages. Paulson sought to use the talks to bring pressure on the Chinese to allow their currency to rise in value against the dollar, an effort that was only partially successful.

    In the Bush administration, the discussions took place twice a year rotating between China and the U.S. The Obama administration has reduced the number to one and elevated the role the State Department will play in the discussions. Treasury and State now will share responsibilities for guiding the talks.

    Administration officials said the changes were being made to broaden the discussions between the two nations. While the talks would only occur once a year, the administration plans to have that session take place only after extensive preparatory work by officials in both countries. The announcement came on the same day that President Barack Obama met in London with Chinese President Hu Jintao. Obama accepted an invitation from Hu to visit China sometime in the second half of this year.

    According to a fact sheet released by the White House, Clinton and Chinese State Councilor Dai Bigguo will chair the strategic track of the discussions. Geithner and Chinese Vice Premier Wang Qishan will chair the economic track. “The dialogue will focus on addressing the challenges and opportunities that both countries face on a wide range of bilateral, regional and global areas of immediate and long-term strategic interest,” Clinton and Geithner said in their joint statement.

    American manufacturers had pushed strongly for the initial strategic dialogue talks to be used to pressure the Chinese to allow their currency to rise in value against the dollar. Domestic manufacturers contend China is artificially depressing the value of its currency to gain competitive advantages in trade with the U.S. by making Chinese products cheaper in America and American goods more expensive in China.

    Frank Vargo, vice president for international affairs at the National Association of Manufacturers, said the trade group favored the administration’s new approach, believing that currency issues and broader trade matters will remain a top priority. “This is good news because the relationship between China and the United States in this very troubled economic period is extremely important,” Vargo said. “We will have a very high level dialogue which is important to get the top levels of the Chinese government to focus on these issues and not have them disappear in the Chinese bureaucracy.”

    google.com/hostednews/ap/article/ALeqM5jRPrTcTsoEOwz1g2CxeBsnWlBirwD979U0F01

  • dot48

    So it seems that Bambi’s administration is going to tell China to kiss our asses. Damn they are dumber than what I thought.

    Again, admin, brilliant article. Everything you write is so true.

    Unfortunately as some polls show, many people are still not wanting to lay what is happening NOW at Bambi’s feet. They want to continue to blame Bush, cause it’s easier.

    I want to know how long is it gonna take them to get their heads outta the sand.

  • JanH

    Europe Issues ‘Tough’ Call for Rules as Obama Urges G-20 Unity

    By Tony Czuczka and Edwin Chen

    April 2 (Bloomberg) — German Chancellor Angela Merkel and French President Nicolas Sarkozy called for tighter rules on financial markets, widening a rift among leaders after President Barack Obama urged unity to counter a global recession. With the Group of 20 summit convening today in London, the European leaders pressed their case, in contrast to Obama’s view that there will be “enormous consensus” to overcome the deepest economic slump since World War II.

    “Germany and France will insist that our intentions don’t just remain statements but that they become reality,” Merkel said at the news conference in London yesterday. “We want results, but we don’t want results that have no effect in practice.”

    A failure to reach consensus would deal a blow to the summit’s aim of identifying ways to end the recession and prevent a repeat financial collapse that caused it. At the top of the agenda is a common regulatory framework to rein in hedge funds, derivatives trading, executive pay and risk-taking. Nations remain divided about how much stimulus is required as well as about naming tax havens and a new global rulebook for banks.

    “It’s not at all clear why Sarkozy and Merkel are making such a show,” said Morris Goldstein, a former economist at the International Monetary Fund and senior fellow at the Peterson Institute for International Economics in Washington. “On regulation, the differences really aren’t that big.”

    Geithner’s Effort

    U.S. Treasury Secretary Timothy Geithner wants to bring hedge funds, private-equity firms and derivatives markets under federal supervision for the first time. A new systemic-risk regulator would have power to force companies to increase their capital or cut their borrowing, and authorities would be able to seize them if they came unstuck. “There is a very strong consensus for broader, stronger, higher standards so the world never faces a crisis like this again,” Geithner said in a Bloomberg Television interview yesterday. “The approach that all these countries are going to come together and support is that we agree on higher common standards for oversight.”

    The eve of today’s summit was marked by protests in central London’s financial district. Demonstrators clashed with police outside the Bank of England and broke into a Royal Bank of Scotland Group Plc branch. Police in riot gear, on horseback and with dogs moved in to surround demonstrators who smashed windows and entered the RBS branch near the central bank.

    Among the leaders, agreements may founder on details as the Europeans pressed for as many specific agreements as possible.

    ‘Lay the Foundation’

    “It’s time to lay the foundations of regulation in the 21st century,” Sarkozy said, adding that tougher regulation is “non-negotiable.”

    Merkel, who faces elections in September, said the summit is a “unique chance” to “thoroughly” change the financial system. “That’s why we’re being a bit tough,” she said.
    Merkel said several drafts of the summit conclusions are in circulation, and that work still needs to be done to clinch a final agreement.

    Sarkozy said the summit draft doesn’t do enough to crack down on tax cheats. His finance minister, Christine Lagarde, said that he’d walk out of the summit if his push for stricter regulation is rebuffed. “In the current state of things, the proposals don’t suit France or Germany,” Sarkozy said on Europe 1 radio. “No agreement is secured. I know by experience that we will need to fight until the last minute.”

    ‘Managed Down’

    The disagreements may force the leaders to paper over differences with a watered-down agreement. Expectations “are being managed down,” Stephen Roach, Morgan Stanley’s Asia chairman in Hong Kong, said in an interview. “There seems to be no real appetite for the leaders to deal with the imbalances in a broader global economy or their own individual economies,” Roach said. “This is not going to be a breakthrough summit.”

    The deepening slump has led to a split over how much governments need to spend to reverse the tailspin. Germany and France have led a European Union response that the 400 billion euros ($530 billion) the EU has approved should be enough and any more would drive debt too high. The recession has worsened since the G-20 leaders last met in November in Washington.

    Slump Forecast

    The Organization for Economic Cooperation and Development said in Paris that the economy of its 30 members will contract 4.3 percent this year and predicted unemployment in the Group of Seven will reach 36 million late next year. The World Bank lowered its growth forecast for developing countries this year by more than half to 2.1 percent.

    “The only thing I wish for is that all the presidents gathered here have the maturity to understand the every day that passes without a solution to the crisis, more people are going to suffer,” Brazilian President Luiz Inacio Lula da Silva told reporters after arriving in London.

    bloomberg.com/apps/news?pid=20601087&sid=adgS.uOYeYCQ&refer=home

  • dot48

    And DAMN I wish you would take his fugly face off this blog. He absolutely makes me wanna hurl.

  • JanH

    Clinton to host first Arctic-Antarctic meeting

    WASHINGTON (AFP) — US Secretary of State Hillary Clinton next week will host the first diplomatic meeting concerning the use of both the Arctic and Antarctic, her department said Wednesday. Clinton will preside over the first joint session of the Antarctic Treaty Consultative Meeting (ATCM) and the Arctic Council on April 6 in Baltimore, Maryland, according to a press release from the State Department.

    The joint meeting brings “together the two most important bodies involved with diplomacy at the Poles,” the statement said. “Ministers and other high-ranking officials will discuss accomplishments of the International Polar Year, an international and interdisciplinary undertaking that has mobilized thousands of researchers from more than 60 countries, to work on more than 160 projects in the polar regions,” it said. “US participation in International Polar Year included research conducted by a range of federal agencies,” it added.

    These include the National Science Foundation, the National Aeronautic and Space Administration, the National Oceanic and Atmospheric Administration, and the US Geological Survey, it said.

    The joint meeting occurs as the ATCM begins its 32nd meeting in Baltimore from April 6-17 which is expected to draw nearly 400 diplomats, Antarctic program managers and logistics experts, and polar scientists from 47 countries.

    Delegates to the Antarctic talks are “to discuss several issues, including environmental protection, the advancement of science, and the management of tourism,” the statement said.

    The ATCM meeting also occurs on the 50th anniversary of the Antarctic Treaty, which was signed in Washington. t “will note its historic significance as the first modern multilateral arms control treaty,” which stipulates that Antarctica be used “for peaceful purposes only and guarantees freedom of scientific investigation.” The United States championed the treaty during the Cold War with the Soviet Union.

    During the ATCM meeting, US delegates propose to “limit the size of vessels that can land passengers in Antarctica and to establish higher standards for the use of lifeboats aboard tourist vessels that visit Antarctica,” it said.

    google.com/hostednews/afp/article/ALeqM5hv_wSTuEdaLW4EBXpSgASya76UxQ

  • dot48

    Hillary is working her ASS off, while lantern jaw and the the TelePrompter man jaunt around giving stupid, ignoramus gifts and pizzing off the good will of the US.

  • wbboei

    The Organization for Economic Cooperation and Development said in Paris that the economy of its 30 members will contract 4.3 percent this year and predicted unemployment in the Group of Seven will reach 36 million late next year.
    ————————–
    Fortunately, we have a soothsayer in the White House Budget Office who has assured us that the US GDP will contract only 1.2 percent this year, and a robust revovery of 3.2% is right around the corner and as for unemployment who needs a job anyway? This new OECD estimate is still too conservative. What they cannot guage is the degree of social disequalibrium and dislocation it will create.

  • wbboei

    Hillary is working her ASS off, while lantern jaw and the the TelePrompter man jaunt around giving stupid, ignoramus gifts and pizzing off the good will of the US.
    —————————
    knowledge is power.

  • Mrs. Smith

    Right on course, Admin-

    I’m sure when Obama gifted an Ipod to the Queen loaded with songs, particularly, the “King and I’, BO and MO probably thought by virtue of marriage, Philip is automatically King! rofl

    BO and MO deserve a ‘reality tv series.’ It really sad, we have to settle for so little!

    ~~~~~~~~~~~~~~~~~~~~~~~~~~~

    dot48 Says:
    April 1st, 2009 at 8:23 pm

    So it seems that Bambi’s administration is going to tell China to kiss our asses. Damn they are dumber than what I thought.

    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    I don’t think so, dot48. Hillary is involved in the policy making. I’ll bet you she crafts something stellar, a win-win for our country and theirs.

  • S

    Admin says:

    …but we will not tolerate attacks on Hillary by our “allies“ HANDS OFF HILLARY…

    ******************************************

    …and that ‘ain’t’ no April Fools Joke…HANDS OFF HILLARY….

  • Mrs. Smith

    S Says:
    April 1st, 2009 at 9:03 pm

    You betcha!

  • jbstonesfan

    Never expect the righties to embrace Hillary. They capitulated slightly during the primaries because they , correctly, realized the threat Oprah’s choice would be to our country. But post election their hate of all things Clinton rears it’s ugly head whenever the opportunity arises. Bottom lime, don’t trust any of them.

  • S

    theweek.com/article/index/94878/What_the_heck_happened_to_Hillary

    …sounds like one of Hill’s former critics has opened her eyes and come around to seeing the Hillary we see…

  • wbboei

    Frank Vargo, vice president for international affairs at the National Association of Manufacturers, said the trade group favored the administration’s new approach, believing that currency issues and broader trade matters will remain a top priority. “This is good news because the relationship between China and the United States in this very troubled economic period is extremely important,” Vargo said. “We will have a very high level dialogue which is important to get the top levels of the Chinese government to focus on these issues and not have them disappear in the Chinese
    —————————-
    Vargo. I dont know him but if he is like association people they are not all that impressive. Masters of compromise, obfuscation and false optimism that never seems to play out.

    I may have mentioned this before but I hosted a dinner one time once for the senate minority dinner on behalf of my company at my condominium. This was right after the incident where Chinese fighter planes forced one of our military planes to land on their soil, after one of their pilots had buzzed him so the political atmosphere was tense. There was talk of selling an electronic countermeansures system to Taiwan in retaliation.

    I did the introductions and then sat at the head table with the senator, an ex senator, the president of boeing who is now the president of ford motor company and the chief lobbyist for microsoft, so I was privy to the conversation that took place.

    Both businesses pleaded with the Senator not to sell the aegis technology to china because it would have adversely affect their market. Mullally talked about the plane orders boeing had in production or under contract for sale to China and cautioned prudence for that reason.

    But the Microsoft pitch was more interesting. He said he had just got back from China and expressed concern over the pirating practices to the same sort of top officials vargo talks about. He said he had met with the premier and the minister of finance. I asked him whether they could be trusted and he said the minister of finance said they had just finished enacting a trademark and copyright protection rule called Rule 17. I asked him whether it was enforceable and he said yes, if the Chinese courts decide to enforce it and to date they had not.

    I think of that anticdote when I read what association man vargo is saying.

    (Note: by now I am sure it is being enforced because Gates has one of his three think tanks there, in addition to the one in London and Redmond Washington northeast of Seattle.

  • wbboei

    The above was a fluke. Normally I do not travel in those circles. But the insight is useful which is why I mention it.

  • S

    huffingtonpost.com/2009/04/01/ed-schultz-to-be-msnbc-6_n_182074.html

    guess msnbc wants to be last in the ratings…schultz is actually worse than david schuster who he is replacing…gag!!!

  • JanH

    Thanks for the link, S.

    “Since taking office on February 2, Clinton has gone from being one of the most guarded public figures in the history of hemming and hawing”

    ——————————–

    Well “tish” (what a juvenile nickname for you), you just can’t write one full article that doesn’t take a knife to Hillary, can you???

    The “hemming and hawing” belongs to your American Idol wannabe bambi. The rest of your comments I can live with, since to those of us who haven’t drunk the koolaid have always known that Hillary rocks!!!

    No thanks to you!!!

  • ShortTermer

    Hillary rocks and no one will be allowed to ‘rock’ Hillary.

    Admin, this article is so refreshing. Those whiners flatter you, they are paying attention to what you are posting. Maybe an iota of truth will be planted in their biased brains – food for future thought.

    The double handed handshake by MO and BO violated protocol. What a classless pair. And the IPOD thing…….plllllleeeeaasse, obviously neither has ever given thought to what might please someone other than themselves. DOA and I am sure not appreciated by the royal couple. What were they thinking???

  • dot48

    surely nobody here thinks that TelePrompterPOTUS and LanternJaw(tm)FirstLady took the time to read or learn about protocol. THEY are the NEW protocol. GET IT!!! they burn me up

  • JanH

    ShortTermer,

    They should have asked Hillary for royal protocol tutoring.

  • S

    ShortTermer Says:

    April 1st, 2009 at 9:34 pm
    Hillary rocks and no one will be allowed to ‘rock’ Hillary.

    Admin, this article is so refreshing. Those whiners flatter you, they are paying attention to what you are posting. Maybe an iota of truth will be planted in their biased brains – food for future thought.

    ***********************************************

    ShortTermer…I think many of the bots are just holding their breath that he does not send them all under the bus…they have already seen, as Admin has indicated, and other articles are starting to surface, that he cares not for them and will do what ever it takes for his own survival…just look at what Elizabeth Warren is red flagging…

    …there are already countless examples of where Teleobama, the Stand-In Prez has reversed himself on things he promised to his blind faith followers…

  • confloyd

    Who the heck is advising the Obama administration on gifts to foreign dignitaries anyway?? An Ipod, who would think that would be a suitable gift for a Queen?? His advisors must not have been schooled in etiquette! Seems that a 20 something year old has the power to pick the gift by the gifts that have been given so far! Maybe his speech writer the “grabber” is attempting to select the presents. He is so inadequate its even funny!!

  • JanH

    confloyd,

    Give bambi advice? As if he would actually listen to anybody else??? Do we actually think m.o. takes anbody’s fashion advice for her???

    I’m sure he will put the blame for this joke on one of his mere pinions.

  • JanH

    anbody’s = anybody’s

  • wbboei

    Let’s move beyond that old argument and try to be constructive in our criticism. There’s no need to throw the baby out with the bath water every time the President makes a decison we disagree with. How about trying to show him why he’s wrong instead of attacking him?
    —————————-
    Admin: the lawyer/blogger who says this does not live in the real world. Sure “seetie”. Like he’s just sitting around waiting for you to show him why he is wrong so he can modify his wicked wicked ways. Unfortunately that is not a common trait among sociopaths. The more likely pattern is this from the prior post entitled Profile of a Sociopath:

    “They never recognize the rights of others and see their self-serving behaviors as permissible. They appear to be charming, yet are covertly hostile and domineering, seeing their victim as merely an instrument to be used. They dominate and humiliate their victims.”

  • wbboei

    sure sweetie.

  • jbstonesfan

    To think that before the primaries I actually enjoyed listening to Randi Rhodes and Ed Schultz………….I am still disappointed in my lack of judgment.

  • NewMexicoFan

    Confloyd

    I guess when you are a neighborhood organizer an I-Pod is a really useful gift. He is just going back to all that experience that he had (Not).

  • wbboei

    Wednesday, April 1, 2009

    Taipan Daily: Rick Wagoner’s Fatal Mistake
    by Justice Litle, Editorial Director, Taipan Publishing Group

    “What’s good for General Motors is good for the country.” We’ve all heard that one, right?

    It’s actually a misquote… one of those legendary quips that gets around because the modified version sounds better than the real thing.

    The actual source was Charles Erwin Wilson, head of GM in the early 1950s, during a question and answer session with the Senate Armed Services Committee.

    The Senate wanted to know if Wilson would have any conflicts of interest upon taking a job as Eisenhower’s secretary of defense. Would he, Charles Erwin Wilson, in his capacity as defense secretary, be willing to make a decision that could harm GM for the good of the country if need be?

    Wilson confirmed his willingness to put country first… and then added he could hardly imagine such a scenario coming to pass.

    Thus came the famous (and oft misquoted) line: “For years I thought what was good for our country was good for General Motors, and vice versa. The difference did not exist.”

    Kicked to the Curb

    Wilson may have been correct at one time in his opinion that “the difference did not exist,” re, America’s interest versus GM’s.

    But a difference sure exists now! It has become apparent, at least by Washington’s measure of things, that in order for America to rise up, GM has to go down. After months and months of socialism-lite and big business mollycoddling, the iron hand of discipline has finally made a showing.

    I mean really, you have to love the irony of this juxtaposition:

    On Friday, March 27, President Obama met with the nation’s top bankers – including Ken “Pig in a Poke” Lewis, Vikram “Bandit” Pandit, and 13 others – for a carefully orchestrated “discussion.” (All sides described the meeting as “cordial” according to the WSJ.)

    On Sunday, March 29 – less than 72 hours from the tough-love banker-fest – Team Obama delivered the following loud-and-clear message to Rick Wagoner, the soon-to-be-ex General Motors CEO: “Pack your bags, buddy boy, and don’t let the door hit your a** on the way out!”

    How’s that for a change in style and demeanor? You can’t make this stuff up, folks… Jekyll and Hyde have nothing on this White House.

    Now don’t get me wrong… I agree that Rick Wagoner (the now ex-CEO of GM) should have been canned. He should have been canned a long, long time ago. The guy handled his exit with class and grace, I’ll give him that. But really now – when your company loses a mind-boggling $90 billion, the share price falls from $70 to $2, and you’re still talking up incremental change in your media memos, it’s long past time for the ax.

    No, the amazing thing in all this is not Wagoner’s long overdue White House-engineered demise. It’s the insane difference in treatment between Wall Street and Detroit, as displayed in back-to-back instances over a single weekend.

    Let us gladly grant that automaker heads had to roll. Many months ago in these very pages, we called loudly for the resignation of Wagoner and his fellow dead-enders. I mean for Pete’s sake, both Toyota and Honda felt compelled to tap new leadership as a result of the crisis… and those two companies are actually healthy and profitable!

    Wagoner’s Big Mistake

    The funny (or not so funny) part of the deal is where Rick Wagoner went wrong. Not from a “running GM” perspective, but from a “saving Rick Wagoner’s career” perspective.

    As the long-time head of a doomed behemoth, Wagoner had proved himself to be a championship-caliber contestant in the game of “CEO survivor” – where the objective is to keep from getting voted off gravy-train island for as long as possible.

    Wagoner’s ultimate mistake, though, was to fail too small. He should have failed bigger.

    Here’s what I mean…

    For quite a long time, it seemed that General Motors had the lock on “fail.” In terms of a hopelessly doomed, dire outcome muscle-flexing contest, who could compete with the mighty GM?

    Just look at the sheer scope of it all: The dying industry (coupled with a dying city)… the deteriorating quality… the vibrant competitors… the gigantic-epic-humongous pension obligations… the desperate suppliers lined up like domino chains… GM seemed to be the undisputed king of fail, with tens of billions in mounting losses to make the case.

    But that was all kid stuff once Wall Street’s “weapons of mass destruction” (Warren Buffett’s pet name for derivatives) hit the scene.

    In perhaps the most stunning instance of “top this” ever recorded in American financial history (or ANY financial history for that matter), the megabankers came along and made Rick Wagoner a mere piker. In comparison to Citigroup, Bank of America and the like, the GM failboat started looking like a dinghy moored next to an ocean liner.

    And so the megabankers – the new undisputed champions of fail – wrangle themselves a high-profile meet-up inside the White House (as opposed to some other less “cordial” place), complete with smiling faces and post-chat photo op… while Wagoner gets tossed like yesterday’s trash.

    Rick my man, you should have done it bigger… if only you’d had the gumption to, say, juice GM’s pension fund with 10 cubic kilotons of derivative toxic waste. You know, a couple truckloads of inverse-floater triple-leverage mega-mortgage reverse-collateralized AIG swaps. Something like that.

    Ah well. Better luck next time… and let this be a lesson to all you other bailout-hungry fail-prone CEOs: This is America! Dream Big!!

    Warm regards,

  • djia

    PRETTY COOL!!! google map of all the APRIL 15th TEA PARTIES!

    http://maps.google.com/maps/ms?ie=UTF8&hl=en&msa=0&msid=112875499027114938790.0004647d9f61bab744fd4&ll=38.272689,-96.679687&spn=27.495109,57.128906&z=4&source=embed

    I did notice the rapid city , Sd tea party is not on there…….so could be others missing

    but it is pretty impressive at the massive tea party movement on one single day! WOW

  • confloyd

    I don’t know how many of you read TexasDarlin’s blogspot, but its hilarous today. A must read!

  • JanH

    “It’s the insane difference in treatment between Wall Street and Detroit, as displayed in back-to-back instances over a single weekend.”

    ———————————-

    yep…and the banks and fannie mae and on and on and on…

    makes ya wonder…

  • confloyd

    I just saw the pic of the Queen and Barry/wife on yahoo. She(Meeshelle) looks like she just had a spoonfull of castor oil and was trying to smile for the camera (LOL!) They both look like fish out of water, and way in over their heads!

  • turndownobama-com

    They both look like fish out of water, and way in over their heads!

    ==========

    Yesssss……?

  • wbboei

    dang wbboei….. you make me look up a ton of words here…. but that’s a good thing……i feel like i am getting smarter every day LOL!!

    Götterdämmerung: The term Götterdämmerung is occasionally used in English, referring to a disastrous conclusion of events.
    en.wikipedia.org/wiki/Götterdämmerung
    ———————————–
    Thanks dija: I never really knew what it meant or how to spell it but it had a nice ring to it. I figured if it was good enough for wagner it was good enough for me. The twilight of the gods or something.

  • AmericanGal

    New article by Karl Rove

    “Obama is Keeping Score”

    online.wsj.com/article/SB123862834153780427.html

  • wbboei

    Thanks for the link, S.

    “Since taking office on February 2, Clinton has gone from being one of the most guarded public figures in the history of hemming and hawing”

    ——————————–

    Well “tish” (what a juvenile nickname for you), you just can’t write one full article that doesn’t take a knife to Hillary, can you???

    The “hemming and hawing” belongs to your American Idol wannabe bambi. The rest of your comments I can live with, since to those of us who haven’t drunk the koolaid have always known that Hillary rocks!!!

    No thanks to you!!!
    ————————-
    Jan-I had the same reaction to this Trish Durkin that you did. She is strictly an Obamamaggot. She did not like Hillary when Hillary was telling the truth about Obama and fighting for the middle class. She likes her now more because she sees Hillary as doing Obamas bidding.

    We on the other hand see Hillary as working for the country and performing the thankless task of protecting our country from foes foreign and domestic–the inuendo I hope is clear.

    Trish is a thoroughly detestable person. She lies through those capped teeth of hers when she professes that Hillary would say anything before to get ahead but only now what she is saying makes sense.

    The truth is Hillary has been consistent all along, unlike her light of love Bambi.

    If this person Trish was interested in the truth then she would drill down on where the real inconsistency his here-Obama. The question she should be asking is where is the Obama we saw in the primary vs what we see now. That is the story a bot like her is unwilling to face.

    That is the real problem with these people. When they are forced to choose between the values they profess to hold and preen over vs recognizing that he is violating them, they reject their values. NARYL is the same way. People like this are not worth listening to.

    It is hardly surprising she worked for CNN. It is a covern of moral relativists like her. Very shallow people–worried about peer group.

    Thanks for posting it S and thanks for your comments Jan.

  • admin

    Blocked nose? It must be jetlag.

    http://www.dailymail.co.uk/debate/article-1166498/QUENTIN-LETTS-Obama-told-joke-Brown-laughed–laughed–laughed–laughed.html

    Allegedly the most charismatic politician in the world, Mr Obama was a disappointment. It sounded as though he had a blocked nose and so his lack of energy may have been a symptom of a cold. Jet lag, too. He probably wished he could have stayed in bed.

    He spoke slowly, in a meandering manner. Some might say that he was thoughtful and professorial. Others might call his manner circuitous, even yarny. Am I saying that he was a bore? Oh dear. I find that I possibly am.

  • djia

    some guy; who ever he is? as he chooses to be nameless…. evidently placed a full page ad in the WSJ, an apology and plea to AIG associates.

    to read the ad:

    technologyonsiteservices.blogspot.com/2009/03/unedited-version-of-public-apology-and.html

  • mp

    Blocked nose and maybe blocked the other end of his ass too!!!!!!

    what can you expect from a lazybone who has never done a day’s work….!!!!

    Good on ya! Daily Mail!!!!!!!!

    He always MEANDERS!!!!!!!never knows what he is talking about….unless he has had a few days to thinkit, rehearse to death and have the TELEPROMTPER near him!!!!

  • wbboei

    New article by Karl Rove

    “Obama is Keeping Score”

    online.wsj.com/article/SB123862834153780427.html
    ————————————————
    The proper response should be so are my constiutents. Compared to them your Chicago style threat has very little voltage. You need to know that a number of us besides you are as you put it “keeping score”. Lastly, I do not like to be threatened. If you want to threaten someone let me suggest you take that scrawney body of yours over to the senate and try your little intimidation game on Jim Webb.

  • admin

    Americans are embarrassed about the clodish I-pod gift. Our apologies to staunch allies the Brits. And apologies to Her Majesty.

  • wbboei

    Admin: Bambi and Brown are a regular Laurel and Hardy.

    Moral to the story: if they’re laughing then they cant be gaffing . . . at least while they’re laughing . . . well, you get the point.

  • admin

    And the released version:

  • wbboei

    We have finally found two things Obama is superior at. Insulting foreign state dignitaries and boring people to death. By the time he has finished one of his once in ten eternities speeches the audience is in a state of rigur mortis.

  • wbboei

    The eighth amendment prohibits cruel and unusual punishment but does not define exactly what it is. If you look at the penal stategies which were in existence at the time it was drafted it would prohibit such things as drawn, quartering, keel hauling, and the various forms of torture sanctioned by the star chamber or the grand inquisitor of Seville. But the question remains what other fiendish forms of torture might it encompass.

    Generally speaking that is a matter reserved to criminal law reformers, judges, psychiatraists, social scientist, criminologists and the like. And because these individuals come from diverse disciplines and backgrounds it is hardly surprising that they would differ on this subject. But surely all reasonable could agree and stipulate to the fact that listening to bambi and tele do their little duet over and over and over would drive most people over the edge. Given a choice between that and waterboarding the decision would be easy. With waterboarding you may die of a heart attack but you would not lose your sanity and there is much to be said for that.

  • wbboei

    Allegedly the most charismatic politician in the world, Mr Obama was a disappointment. It sounded as though he had a blocked nose and so his lack of energy may have been a symptom of a cold. Jet lag, too. He probably wished he could have stayed in bed.

    He spoke slowly, in a meandering manner. Some might say that he was thoughtful and professorial. Others might call his manner circuitous, even yarny. Am I saying that he was a bore? Oh dear. I find that I possibly am.
    ———————————-
    Hmmm…hmmm…

    I wanted this fairy tale to go on forever
    Have I stayed too long at the fair?
    I wanted bambee to be campaign until never
    Have I stayed too long at the fair? (snip)

    The merry-go-round is beginning to slow now
    Have I stayed too long at the fair?
    The music has stopped and the groupies have o.d.’d
    Have I stayed too long at the fair? (snip)

    Oh tele dear, I know your very tight
    When Bambi get the credit its
    We all know it just aint right

    I wanted to live in a make believe city,
    With hopium sans michelle everywhere;
    I wanted to think I was clever and witty,
    I wanted bambee to be there; (snip)

    The merry-go-round is beginning to taunt me,
    Have I stayed too long at the fair?
    He has broken his word
    And betrayed his supporters

    Yes, I have stayed too long at the fair

  • djia

    OMG totus is hillarious today……..have you read it ??

    http://baracksteleprompter.blogspot.com/

  • djia

    The Plum Line Greg Sargent’s blog

    Nominee For Treasury’s Number Two Helped Draft Legislation Deregulating Banks

    Hmmm. This isn’t exactly confidence inspiring.

    Tim Geithner’s new nominee for number two at the Treasury Department, Neal Wolin, played a key role in drafting legislation in the late 1990s deregulating the banking system, a former Treasury Department official confirms to us.

    The law that Wolin helped draft has been blamed by some critics, many of them Democrats, for easing up regulatory pressure on huge financial institutions, tangentially helping create today’s mess — and his role drafting it could come under questioning at his upcoming confirmation hearings.

    Our reporter, Ryan Derousseau, came across Wolin’s role in researching our big profile of Wolin at WhoRunsGov.com. Stuart Eizenstat, a deputy Treasury secretary under Bill Clinton, confirmed that as Treasury’s general counsel at the time, Wolin “provided the technical and legal drafting” for the Gramm-Leach-Bliley Act.

    As Ryan writes, the Act hasn’t been directly blamed for today’s meltdown. But it did pave the way for the birth of huge financial companies like Citigroup that were deemed “too big to fail” when their mortgage bets went belly-up and the credit market evaporated. The government, of course, had to bail out these institutions with billions in taxpayer dollars.

    Wolin — who was picked after several other candidates passed on the slot — did the legal work under then-Treasury Secretary Larry Summers, who is now Obama’s head of the National Economic Council. The difference here is that Summers’ post, unlike Wolin’s, is a non-confirmable one, so he hasn’t been pressed publicly on Gramm-Leach-Bliley. The question now is whether Wolin will come under sharp questioning over his role in creating it.

    theplumline.whorunsgov.com/economy/nominee-for-treasurys-number-two-helped-draft-legislation-deregulating-banks/

  • turndownobama-com

    ]as [Bill Clinton's] Treasury’s general counsel at the time, Wolin “provided the technical and legal drafting” for the Gramm-Leach-Bliley Act.
    ==============

    Everybody who was in Bill Clinton’s Treasury has been accused of de-regulating. Bill Clinton has been accused of it. Everyone in Washington in the 90s was involved in it, with the GOP Congress pushing it.

    De-regulation has been happening for decades. Anyone who wasn’t involved is too young to serve! Like about two years old!

  • djia

    Taxpayers storm Iowa House in protest

    More than 500 people who are upset with a plan to change Iowa’s tax laws were cleared from a hearing tonight at the Iowa House after they interrupted multiple times.

    youtube.com/watch?v=qYvEPLHByHk&feature=

  • wbboei

    Lately there has almost been an organized effort, a continous trickle of emails imploring Big Pink to go away. “Stop being bitter!”, “stop writing those mean things about Obama”, “why are you calling Michelle Obama ‘Mary Todd’ and ‘lantern-jawed’, and mocking her sleeveless look”, “Obama is doing the best he can so leave him alone”, “forget about last year and the year before that”, “forget about what happened during the primaries and the general election”, “Hillary has made peace and moved on, why don’t you”.

    These are the same people/fools who DEMAND a “truth commission” or “investigations” or “prosecutions of Bush crimes”. These fools “won’t let go” but they otherwise want us to let “bygones be bygones”. We want to investigate Bush and Obama.
    ——————————
    They are fools alright. Not just April ones either. They are fools for all seasons. And when they land under the bus and he runs over them they are sure to say: Oh thank you massobama. May I please have another. What their stupidity and misguided political energy is costing the country in terms of liberty and standard of living is what these purblind idiots should be concerned with rather than asking for a retraction of the truth which issues from this website. These people are facists and it will be more obvious as his sociological tendencies come out. Forthem, the truth is a pesky problem because as soon as they censor, threaten and stomp it to death in one quarter as they have most certainly done, it pops up somewhere else. It wont go away. If they want to live a lie and follow a thug then that is their problem. But they have no right to ask others to succumb to their delusion. That would be unpatriotic.

  • turndownobama-com

    Lots of protest in England too. Hello spamtrap.

    UK Guardian: G20 protests: riot police clash with demonstrators
    Much of the protesting, from an estimated 4,000 people in the financial centre of the capital, was peaceful, but some bloody skirmishes broke out as police tried to keep thousands of people in containment pens surrounding the Bank of England on Threadneedle Street.
    http://www.guardian.co.uk/world/2009/apr/01/g20-summit-protests

    Selected photos:
    http://mountainsageblog.com/2009/04/01/g20-protests-erupt-in-london/

    More photos and story here:
    http://www.guardian.co.uk/world/gallery/2009/apr/01/g20-protest?picture=345344194

  • wbboei

    Confloyd: you are right. The Texas Darlin’ post is great. So I copied it and imported here:
    ———————————————————
    Obama = Recession, Amnesty, & Taxes (RAT)
    April 1, 2009 by budwhite

    Today in the Wall Street Journal, Rep. Paul Ryan announces the Republican budget alternative. He describes Obama’s budget as turning the US into a European social democracy:

    this is no ordinary budget. In a nutshell, the president and Democratic leaders in Congress are attempting to bring about the third and final great wave of progressivism, building on top of the New Deal and the Great Society. So America is placed in a special moment in our history — brought about by the deep recession, Mr. Obama’s ambitious agenda, and the pending fiscal tidal-wave of red ink brought forward by the looming insolvency of our entitlement programs. If this agenda comes to pass, it will mark this period in history as the moment America turned European.

    The Republican proposal, according to Rep. Ryan, maintains the social safety net now in place, but focuses on debt reduction and economic growth. Instead of Obama’s socialist redistribution of wealth, the Republicans seek to grow the economy and lift all boats:

    As the opposition party, we believe this moment must be met by offering the American people a different way forward — one based on our belief that America is an exceptional nation, and we want to keep it that way. Our budget applies our country’s enduring first principles to the problems of our day. Rather than attempting to equalize the results of peoples’ lives and micromanaging their affairs, we seek to preserve our system of protecting our natural rights and equalizing opportunity for all. The plan works to accomplish four main goals: 1) fulfill the mission of health and retirement security; 2) control our nation’s debts; 3) put the economy on a path of growth and leadership in the global economy; and 4) preserve the American legacy of leaving the next generation better off.

    I never expected to be supporting a Republican economic plan. I was a partisan Democrat for 20 years — until May 31, 2008, when the DNC stole the nomination from Hillary.

    But the truth is that Obama is a Democrat in name only. As Dr. Kate points out, Obama and his radical clique have disguised themselves as moderates. The stimulus bill and his budget are outside the mainstream.

    For perspective, I went to President Clinton’s speech at the Democratic Convention in Los Angeles in 2000. Clinton’s words are just as relevant today.

    Clinton saved the Democratic party from 20 years of stale ideas; Clintonism was a rejection of 1970s McGovern liberalism: huge bureaucracies, identity politics, inflation, high taxes, moral relativism, and military weakness. In 1972, this form of liberalism was famously described by the Nixon people as “acid, amnesty, and abortion.”

    President Clinton believed and said that the best social program was a good job, a world view in polar opposite to Obama’s stealth revival of 70s McGovern statism.

    On August 14, 2000, President Clinton spoke at the Stapleton Center. Clinton could just as easily be describing Obama’s America:

    Eight years ago, when our party met in New York, it was a far different time for America. Our economy was in trouble, our society was divided, our political system was paralyzed. Ten million of our fellow citizens were out of work. Interest rates were high. The deficit was $290 billion and rising. After 12 years of Republican rule, the federal debt had quadrupled, imposing a crushing burden on our economy and our children.

    Welfare rolls, crime, teen pregnancy, income inequality – all had been skyrocketing. And our government was part of the problem, not part of the solution.

    Below Clinton touts his economic achievements:

    Today, we are in the midst of the longest economic expansion in our history. More than 22 million new jobs, the lowest unemployment in 30 years, the lowest female unemployment in 40 years, the lowest Hispanic and African American unemployment on record, the highest home ownership rate in our history. In 1995, we turned back the largest cuts in history in Medicare, Medicaid, education, and the environment; and proved two years later that we could find the way to balance the budget and protect our values. Today, we have gone from the largest deficits in history to the largest surpluses in history – and if we stay on course, we can make America debt-free for the first time since 1835.

    For the first time in decades, wages are rising at all income levels. We have the lowest child poverty rate in 20 years, the lowest poverty rate for single mothers on record. The average family’s income has gone up more than $5,000 and, for African American families, even more.

    As Tom in Pain succinctly describes Obama’s economics:

    You can’t throw over a trillion dollars at a problem (don’t even bother trying to understand how much that is) without it having some effect. The question is how much and at what cost. Watching Obama go to Ohio to give a speech claiming that a $767 billion rescue plan is working because it saved 25 jobs on the Columbus Ohio police force doesn’t exactly inspire confidence. (emphasis added)

    If Obama’s agenda is passed, I fear our children, burdened with his towering and unprecedented debt, will never see the opportunities Clinton provided our country, a truly progressive period in our nation’s history

  • wbboei

    Well, it is an ill wind that doesnt bring some good. Sure, its $765 billion (excluding $300 billion interest), and we will be paying for it for the next two generations, but just look at the jobs it created –all 25 of them and on the Columbus police force at that!

    Yes, the millenium is at hand! Massaobama had done the impossible. He helped the economy and protected the public all at the same time! And it it cost us was a paltry 30 billion a job (excluding interest)!!!

    Now there is a great example of change that will bankrupt us.

  • turndownobama-com

    “the pending fiscal tidal-wave of red ink brought forward by the looming insolvency of our entitlement programs.”

    ==================

    Bullshit. Hillary said there’s nothing wrong with SS except that the govt keeps borrowing from it. Poliiticans keep claiming there is something wrong so they can get in to ‘fix’ it — ie loot it.

  • holdthemaccountable

    Obama is doing the best he can so leave him alone
    ————————————————-

    Ahhhh. The same was said of George W.
    I remember it well.

  • JanH

    admin Says:

    April 2nd, 2009 at 12:23 am

    Blocked nose? It must be jetlag.

    ———————————-

    Nuh uh! He double dosed on his pompous pills!

  • JanH

    Israeli foreign minister, Clinton agree to meet

    JERUSALEM (AFP) — US Secretary of State Hillary Clinton has called her Israeli counterpart Avigdor Lieberman and the two agreed to meet “as soon as possible,” Lieberman’s office said on Thursday.

    “The secretary of state and Mr. Lieberman agreed during the telephone conversation to meet as soon as possible,” an official with his office told AFP, without saying when the conversation took place.

    Since officially taking over the foreign ministry on Wednesday, Lieberman has received invitations for a visit from counterparts in Italy and Spain, he said.
    Lieberman also spoke by phone with European Union foreign policy chief Javier Solana.

    The firebrand Lieberman sparked controversy as soon as he took office, saying Israel was not obligated by the US-backed 2007 agreement to restart peace talks with the Palestinians. On Thursday he continued to pour oil on the fire, refusing any withdrawal from the strategic Golan Heights plateau in exchange for peace with Syria.

    google.com/hostednews/afp/article/ALeqM5gQ0pfVMrTRzWA-ozJd4AeKQV89HQ

  • JanH

    Hillary could create two envoys to Northern Ireland

    Thursday, 2 April 2009

    US Secretary of State Hillary Clinton wants to create two Northern Ireland envoys — with one charged with bolstering economic relations. Clinton has talked of creating a special envoy for some time, but also wants to put someone in post to deal with investment on the back of the successful American conference held last year, MPs were told.

    President Barack Obama is also said to be keen to capitalise on the links in Northern Ireland as well as the Republic. Ulster Secretary of State Shaun Woodward revealed details of discussions held in Washington to the Northern Ireland Affairs committee.
    He said: “When I had meetings in Washington on this subject with Secretary of State Clinton, she outlined to me the intention of the administration to appoint a special envoy, but also to consider an economic envoy because they recognise there would be considerable value in having somebody who would continue the work of trying to bring investment and sustained investment in the United States to Northern Ireland, as well as having somebody who would continue with the ameliorating role that has been played by successive envoys in the politics of Northern Ireland. So, they are looking at the prospect of two envoys.

    “I think we have recognised that actually the Republic of Ireland takes a huge amount of America’s inward investment. “As we have seen there is a very strong interest from those who have invested in the Republic to actually look to Northern Ireland, as well as to extend that investment or even to change that investment. “I don’t wish to do any harm to the economy in Dublin, but I think what people are beginning to see is that there is real value for America in having an economic envoy because Northern Ireland has a fantastically high-skilled, low cost skill base from which to work.”

    First Minister Peter Robinson and Deputy First Minister Martin McGuinness also discussed the plans when they met with Secretary of State Clinton during their visit over St Patrick’s Day when she talked of the “deep and special relationship”.

    Mr Woodward said President Obama had told him there was 41 million Irish Americans in the US. “Not only can President Obama trace his antecedents to the Republic, but we have now had 13 presidents with origins in Ireland, nine of which are from Northern Ireland,” he added. But he was warned that creating a special envoy role could be damaging for the province.

    Conservative MP Christopher Fraser said some people believed special envoys were only sent to trouble spots and “basket case” nations. He said: “The people of Northern Ireland want to be seen as equal partners in the UK and not seen as a special case.”

    belfasttelegraph.co.uk/news/local-national/hillary-could-create-two-envoys-to-northern-ireland-14252909.html

  • JanH

    Did Obama’s royal iPod gift make the cut?

    April 1, 2009
    BY NIA-MALIKA HENDERSON

    What do you get for a woman who has everything—palaces, crown jewels, a nation at her feet? If you’re President Barack Obama, and it’s the Queen of England, a personalized iPod, of course.

    The bestowing of the Royal iPod brought a cringe from one top etiquette expert, who said it confirmed that Obama hasn’t figured out presidential gift-giving. Or that they shouldn’t all come from Best Buy — Obama already took some grief for giving British Prime Minister Gordon Brown a boxed set of DVDs when he visited the White House.

    “For me, the iPod only works if he has some catchy reason why he gave it as a gift,” said Anna Post of the Emily Post Institute. “Otherwise it feels like somebody at the White House pulled the lever and an iPod is what popped up. And if it was just pulled out of the blue, you run the risk of the ‘Oh, how nice,’ reaction from people which is the polite gloss of, ‘What on earth am I going to do with this?’ ”

    The Obamas recovered a bit in Post’s eyes by also giving the Queen a rare songbook signed by Richard Rodgers. One of the Queen’s favorite musicals is Rodgers and Hammerstein’s Oklahoma!
    Post called that gift “the height of thoughtfulness.”

    But perhaps surprisingly to folks in the U.S. the Queen is no stranger to the iPod, because she already has one. Back in 2005, the Queen, at the suggestion of her son, Prince Andrew, decided to join the iPod revolution and bought a 6GB silver model. Royal watchers say Her Royal Highness likes show tunes and easy listening music, but isn’t a fan of rap or pop. So the new iPod could be an upgrade for the Queen. So far the Ipod gift hasn’t resulted in the kind of “what was he thinking” response in the British press that came with the DVD gift. Also the White House loaded the iPod with video of her visit to the states in 2007.

    The story about the gift exchange on the Telegraph newspaper site prompted hundreds of responses—with tons of Americans apologizing for the gift and expressing embarrassment and Brits seeming to take it in stride, with one writing:

    “Dear ‘Real Americans,’

    Thanks for the apologies, but you can keep them. No reasonable person here is insulted by the gifts given to the queen – I imagine it was refreshing for her not to receive another ornamental trinket to sit in the royal garage.”

    As for the Queen, she gave the Obamas a signed photo of herself and her husband in a silver frame. But she had it easier than Obama — that’s the same thing she always gives visiting dignitaries.

    hamptonroads.com/2009/04/did-obamas-royal-ipod-gift-make-cut

  • dot48

    MeSchelle broke protocol again by hugging the Queen. Do they not read or do they not have some to teach them this stuff. Damn, I thought everyone KNEW that this is not something that you do. It might be old fashioned but it is her way of doing things and I think LanternJaw should not have violated her private space. The amazon looking creature probably scared the Queen.

    The TOTUS blog is hilarious.

  • basil9

    Hmmmmm….

    THIS doesn’t look anything like the sanitized footage shown on US news.

    Imagine this happening here.

    Admin, Can you embed?

    pumasunleashed.wordpress.com/2009/04/02/g-20-rioters-attack-royal-bank-of-scotland/

  • basil9

    dot,

    She does it on purpose, IMHO. More ‘giving it to whitey.” Just like her horrible fashion choices. She is so friggin ghetto. The welfare queens (barf-parents) of the kids I worked with would dress the same way – in inappropriate-skin-tight-fabric-stretch-across-hip-girth clothing and nothing ever fit – always a couple of sizes too small, on purpose. She is a disgrace.

  • JanH

    dot,

    m.o. is writing new rules for protocol…should be a bestseller…not!

  • JanH

    Police make 86 arrests in violent G20 protests

    LONDON (AFP) — Police said Thursday they made 86 arrests during the lengthy violent protests that besieged central London’s financial district ahead of the G20 summit. Thousands of people demonstrated on the streets of London on Wednesday in angry demonstrations that descended into violent battles with riot police and saw one man collapse and die.

    Protesters were set to take to the streets again on Thursday, this time close to the ExCeL exhibition centre in east London’s Docklands, where the summit is taking place.
    Some protesters smashed their way into the offices of the state-owned Royal Bank of Scotland (RBS) next to the Bank of England on Wednesday, breaking through windows, hurling out office equipment and trying to set it ablaze.

    The 86 arrests were for a range of offences, including violent disorder, aggravated burglary, arson, bomb threats and possession of ammunition. Four people have been charged with offences so far, three with possessing a bladed weapon and one with assault.

    Police said that about 4,000 protesters had converged on the City.

    Riot police penned in the protesters and let them out one by one. Some were still being dispersed early Thursday, more than 12 hours after the demonstration began.
    Expecting demonstrations and disorder, police launched a massive security operation to keep protesters at bay. Up to 4,700 police officers, including public order teams, intelligence gatherers and diplomatic security specialists were to be on duty Thursday in the capital.

    The London Stock Exchange opened without incident, despite threats from protesters. Police officers circled the entrance to the building.

    google.com/hostednews/afp/article/ALeqM5jHlhRzNoI1K85CJ3wrTd28Xv71nQ

  • JanH

    Ousting bailed-out U.S. bank CEOs an option: Geithner

    01 Apr 2009

    WASHINGTON (Reuters) – U.S. Treasury Secretary Timothy Geithner said on Wednesday he would consider forcing out chief executives of banks that receive government bailouts if they were not managing their businesses properly. In an interview with CBS, Geithner said economic recovery depends on a financial system that effectively provides credit, and the government would hold companies receiving public aid accountable.

    When asked whether he left open the option to pressure a bank CEO to resign, Geithner responded, “Of course. Of course.” The comment came just days after the chief executive of General Motors Corp was ousted at the request of President Barack Obama’s auto task force.

    The White House has been trying to strike the right balance between salvaging firms that are vital to the economy and acknowledging taxpayer resentment over a series of increasingly costly bailouts. The fact that many companies continued to pay large bonuses and sponsor lavish corporate events after accepting public money has infuriated voters and politicians alike, and Geithner in particular has been criticized for not imposing strict limits on how companies use government money. In separate interviews with ABC and NBC, Geithner noted that the government has pushed out executives of bailed out companies before.

    “Where the government has … had to take exceptional action, the government has come in and changed management and boards so that these firms can emerge stronger,” he told NBC news. “Where we have to do important things to provide assistance, we’re going to make sure we do so on terms that protect the taxpayer and have these firms emerge stronger.”

    reuters.com/article/newsOne/idUSN0151584220090401

  • wbboei

    Thousands of people demonstrated on the streets of London on Wednesday in angry demonstrations that descended into violent battles with riot police and saw one man collapse and die.
    ———————————————
    Protesters or patriots? Strange question I know. Yes, we all deplore violence. We all want the economic problem which grips this world solved. But do we want it solved in such a way that transfers absolute power to global elites, and causes the concept of national identity to become a relic of the past. Whom in these elite circles speaks for us? Barack Hussein Obama? Give me a fucking break! In some ways it is more subtle than that but in other ways it is just that simple.

  • JanH

    Apr 3, 2009

    Geithner’s dirty little secret

    By F William Engdahl

    US Treasury Secretary Tim Geithner, in unveiling his long-awaited plan to put the US banking system back in order, has refused to tell the dirty little secret of the present financial crisis. By refusing to do so, he is trying to save de facto bankrupt US banks that threaten to bring the entire global system down in a new more devastating phase of wealth destruction.

    The Geithner proposal, his so-called Public-Private Partnership Investment Program, or PPPIP, is not designed to restore a healthy lending system that would funnel credit to business and consumers. Rather it is yet another intricate scheme to pour even more hundreds of billions of dollars directly to the leading banks and Wall Street firms responsible for the current mess in world credit markets, without demanding they change their business model. Yet, one might say, won’t this eventually help the problem by getting the banks back to health?

    Not the way the Barack Obama administration is proceeding. In defending his plan on US TV recently, Geithner, a protege of Henry Kissinger and before his present posting president of the New York Federal Reserve Bank, argued that his intent was “not to sustain weak banks at the expense of strong”. Yet this is precisely what the PPPIP does. The weak banks are the five largest banks in the system.

    The “dirty little secret” that Geithner is going to great degrees to obscure from the public is very simple. There are only at most perhaps five US banks that are the source of the toxic poison causing such dislocation in the world financial system. What Geithner is desperately trying to protect is that reality. The heart of the present problem, and the reason ordinary loan losses are not the problem as in prior bank crises, is a variety of exotic financial derivatives, most especially credit default swaps.

    article continues here…

    atimes.com/atimes/Global_Economy/KD03Dj02.html

  • wbboei

    Ousting bailed-out U.S. bank CEOs an option: Geithner
    ————————————————–
    I see no evidence that corrupt NBC asked the right follow up questions such as which bailed out bank ceos is he watching, what criteria will apply to that detemination, etc. What a perfect opportunity to have laid down some markers to this avaricious group of theives who use bailout monies for self aggrandisement, lavish entertainment, etc. More vague airy bullshit from Obama–no teeth, no criteria, no due process, just an arbitrary and capricious abuse of power.

  • JanH

    Why Geithner’s plan is the taxpayers’ curse

    By Peyton Young
    April 1 2009

    People who outbid others in auctions sometimes pay too much, a phenomenon known as the winner’s curse. Yet the plan outlined last week by Tim Geithner, US Treasury secretary, for pricing the toxic assets clogging up the financial system provides private investors with an unusually strong incentive to overpay: the government is proposing to pick up most of the tab if the assets turn out to be worth much less than was spent on them. Indeed, the more aggressively investors compete in bidding for these assets, the worse off the taxpayers will be. I call this the taxpayers’ curse. A simple example will illustrate the problem. Suppose that a given bundle of mortgage-backed securities would be worth $20m (€15m, £14m) if you could be sure that all the mortgages will be repaid in full, but they might also turn out to be worthless. No matter how much you pay for them, the US government agrees to absorb any losses beyond approximately 15 per cent, while you get to keep half of any gains. In return, you only have to put up about 7.5 per cent of the purchase price. How much will the assets sell for? That depends on two things: how aggressively others bid and how much uncertainty there is about their ultimate value.

    For simplicity, assume the assets could be worth $20m or zero with equal probability. Assume that yours is the winning bid at a price of $10m. Under Mr Geithner’s plan, you put up $750,000 for an equity stake and the government puts up the remaining $9,250,000: a loan for $8,500,000 and $750,000 for an equal share of the equity. There is a 50 per cent chance that you will get your money back in full and make a profit of $5m (in which case the other $5m in profit goes to the Treasury). Of course, it is equally likely that the assets will turn out to be worthless, but in that case all you lose is your initial payment of $750,000, and the Feds are on the hook for the rest. That works out to an expected profit of $2,125,000 for an investment of $750,000, a return of 283 per cent.

    If this seems too good to be true, it is: competition from other bidders will probably drive the bid price much higher. This would be unfortunate, however, because $10m is already the expected value of the asset. For example, a bid price of $14m would still be a bargain, because the investor’s expected profit would be approximately $1m on an initial investment of approximately $1m, which represents a 100 per cent return. Meanwhile, the taxpayers can expect to lose nearly 40 per cent of their money.
    This is the singularly perverse feature of the Treasury proposal: the greater the competition among the bidders, the worse off the taxpayers and the more distorted the so-called “market” prices that result. More generally, one can work out the amount of price distortion and the expected returns to the taxpayers as a function of the variance in the realised values of the asset and the expected returns demanded by investors. For example, if there are two equally probable outcomes, one 50 per cent above the mean and the other 50 per cent below the mean, taxpayers can expect to lose money unless private investors make more than 180 per cent in expectation.

    Some might argue that this is the price we must pay to get the financial system back on its feet but, in my view, it is much too steep. The problem is not merely the size of the bill, which could run into the hundreds of billions of dollars. The real difficulty is that the scheme perpetuates the very practices that got us into this jam in the first place. Over the last several decades, Wall Street wizards have developed products that most people cannot understand, including quite a few players in the financial markets themselves. The result has been mispricing and excessive risk-taking throughout the financial system.

    It is truly dismaying that the Obama administration, which publicly champions greater transparency, should put forward a proposal whose main object is to subsidise the banks without appearing to do so. Instead of making the prices of toxic assets more transparent, it is likely to inject a new level of price distortion and uncertainty into the markets, while putting taxpayers at great risk. It may also allow banks to claim that assets remaining on their books after the auction should be priced at the same inflated level as the assets sold off. A more straightforward plan would be strongly to encourage banks to auction off tranches of toxic assets without providing subsidies to the purchasers. This would involve fewer gimmicks and produce prices that more nearly reflect the assets’ true economic value. If these auctions do not generate enough activity to clean up the banks’ balance sheets, the government will have to seize control of insolvent institutions temporarily and sell off their bad assets over a period of time, as happened in the wake of the S&L debacle of the 1980s.

    ft.com/cms/s/0/3e985de0-1ee7-11de-a748-00144feabdc0.html

  • JanH

    Geithner’s Plan: Loopholes Galore

    Here are five ways hedge funds and investment banks may exploit Treasury’s toxic-assets plan

    By Theo Francis and Mara Der Hovanesian

    It has been a little less than two weeks since Treasury Secretary Timothy F. Geithner unveiled the details of his project to restore banks to financial health. But analysts say hedge funds and investment banks are already looking for ways to exploit the complex web of auctions, public-private partnerships, and government guarantees proposed by Treasury to cleanse banks’ books of toxic assets. “It’s a highly gameable system,” says H. Peyton Young, an Oxford University economist and a senior fellow at the Brookings Institution in Washington. “It’s very difficult to write rules that are going to prevent self-dealing behavior.”

    continued here…

    businessweek.com/magazine/content/09_15/b4126020226641.htm?chan=top+news_top+news+index+-+temp_news+%2B+analysis

  • wbboei

    The “dirty little secret” that Geithner is going to great degrees to obscure from the public is very simple. There are only at most perhaps five US banks that are the source of the toxic poison causing such dislocation in the world financial system. What Geithner is desperately trying to protect is that reality. The heart of the present problem, and the reason ordinary loan losses are not the problem as in prior bank crises, is a variety of exotic financial derivatives, most especially credit default swaps
    —————————-
    Thanks Jan–this easter egg hunt is starting to narrow down.

    The relevant questions are 1) who are these banks, and 2) what ties do they have to Barack Hussein Obama–political contributions and otherwise. Pin that one down and a big part of this mystery is solved.

    Where are would be investigative journalists like Tapper and Ben Smith on this one. In the hopium den of course, smoking the drug of choice.

  • wbboei

    It’s a highly gameable system,” says H. Peyton Young, an Oxford University economist and a senior fellow at the Brookings Institution in Washington.
    ————————
    The word gameable is a term of art. It means there are many ways to screw the taxpayer, through the same kind of artifices, schemes and devices that created the crisis in the first place. More change you can believe in from the but boys of the oligarchs.

  • JanH

    wbboei,

    I hope I’m not overloading the site with these articles today, but they all seemed very relevant to me.

  • wbboei

    Why Geithner’s plan is the taxpayers’ curse

    By Peyton Young
    April 1 2009
    —————-
    To Peyton Young and all his ilk-may you rot in hell until you say it staight out that this is the Obama Plan. He picked Geithner and he is promoting his policies. Otherwise you need to rewrite history and tell us that the Iraq War was not Bushs War but Rumsfelds War and Bush is innocent as the driven snow.

  • wbboei

    I hope I’m not overloading the site with these articles today, but they all seemed very relevant to me
    —————————-
    Jan–there has never been a time when the truth was more relevant. I am not sure it will set us free anytime soon, but it gives us the capacity to understand what is happening right now under the blue haze of hopium. Shock doctrine.

  • JanH

    Thanks wbboei. I agree.

  • HighlyEducatedHillarySupporter

    Admin, did Jeralyn or BTD of TalkLeft seriously send you emails? If so, that is beyond insanity but at least that means they come here to read your what you have to say :-D They are just bitter because they’ve been so blind and now Obama has thrown them under the bus and exposed them as the fools that they are. Anyway, thank you for reminding us how TalkLeft drank the kool-aid last year. I had forgotten that Jeralyn had become so deranged with hatred over Sarah Palin or how Obama compared BTD to FDR. Crazy. Criticizing other bloggers? They seriously have no currency to spend in that department. I dedicate April Fools day in their honor.

  • wbboei

    I seem to recall that after God had saved the Queen- Victoria for fifty years on the throne they had something called the diamond jubilee celebration. When it comes to left wing fools who got bamboozled surely yesterday was the diamond jubilee of April fools days for them, and they too will be remembered fifty years years from now.

    In 1946 Paris no one was willing to admit to being a German collaborator during the war, and when the current obomination has run its course and people look back it will be seen the same way. On the question of shock doctrine–whose side were you on when it counted: the obama cartel or the American People?

  • JanH

    “In 1946 Paris no one was willing to admit to being a German collaborator during the war, and when the current obomination has run its course and people look back it will be seen the same way.”

    ———————————–

    Exactly! If nothing else, this shame will not go away.

  • turndownobama-com

    My links to photos of the G20 protests seem to be caught in modertion.

    turndownobama-com Says: Your comment is awaiting moderation.
    April 2nd, 2009 at 2:04 am

  • turndownobama-com

    wbboei Says:
    April 2nd, 2009 at 11:46 am

    Why Geithner’s plan is the taxpayers’ curse

    By Peyton Young
    April 1 2009
    —————-
    To Peyton Young and all his ilk-may you rot in hell until you say it staight out that this is the Obama Plan. He picked Geithner and he is promoting his policies.

    ================

    IMO Geithner is promoting a mixed bag including Obama’s policies, stumbling because Obama’s are bad policies and he’s trying to talk Obama out of them . Poor Geithner, caught between Obama’s folly and the wisdom of his friend and ally, Hillary. And being set up by the Obama/Alexrod axis as a bad guy and a fall guy.

  • JanH

    US replaces Blackwater for some Iraq security

    By MATTHEW LEE –
    WASHINGTON (AP) — The State Department said Wednesday it has signed the Virginia-based private security firm Triple Canopy to take over protecting U.S. diplomats on the ground in Iraq from Blackwater Worldwide, now known as Xe.

    Blackwater, which earlier this year changed its name to Xe (pronounced “Zee”), had come under heavy criticism for its alleged role in a fatal gun battle in Iraq. The Iraqi government refused to renew the firm’s license to operate in the country.

    State Department spokesman Gordon Duguid said the government gave the job to Triple Canopy on Tuesday following a decision made in January not to renew Blackwater’s contract. “The department awarded Triple Canopy the ground task order for protective security details in Baghdad after a thorough evaluation of proposals from each company that had submitted bids,” Duguid told reporters. He said the transition between Triple Canopy and Xe would begin immediately but that Xe’s contract does not expire until May. Duguid could not immediately provide details about the amount of Triple Canopy’s contract or its duration, although he said the task order includes only ground protection. He said the department had not yet determined how to handle replacing the air support that Blackwater had been providing for U.S. diplomats in Iraq.

    Triple Canopy, based in Herndon, Va., is one of three private companies, along with North Carolina-based Xe and Virginia-based Dyncorp, that have handled security for U.S. diplomats in Iraq.

    The State Department informed Xe on Jan. 29 that its contract for Iraq would not be renewed because of the Iraqi government refusal to grant the company a new license.
    The Iraqi decision was made amid lingering outrage over a September 2007 shooting in Baghdad’s Nisoor Square that left 17 Iraqi civilians dead. That incident strained relations between Washington and Baghdad and fueled the anti-American insurgency in Iraq, where many Iraqis saw the bloodshed as a demonstration of U.S. brutality and arrogance. Five former Blackwater guards have pleaded not guilty to federal charges in the United States that include 14 counts of manslaughter and 20 counts of attempted manslaughter.

    google.com/hostednews/ap/article/ALeqM5gztXTGAKUSeJLN3dRjWpSUjkQ_ugD979Q2KG1

  • JanH

    Obama to nominate sampling expert to head census

    By HOPE YEN

    WASHINGTON (AP) — President Barack Obama has chosen Robert M. Groves to be the next census director, turning to a professor who supports the use of statistical sampling and has clashed with Republicans to lead the high-stakes head count. The White House will announce the selection of Groves later Thursday, according to a Commerce Department official who demanded anonymity because the individual was not authorized to speak before the official announcement.

    Groves is a former Census Bureau associate director of statistical design, serving from 1990-92. He has spent decades researching ways to improve survey response rates. If confirmed by the Senate, he will take the helm less than a year before the decennial count, which has been beset by partisan bickering and will be used to apportion House seats and allocate billions in federal dollars. When he was the bureau’s associate director, Groves recommended that the 1990 census be statistically adjusted to make up for an undercount of roughly 5 million people, many of them minorities in dense urban areas who tend to vote for Democrats.

    But in a fierce political dispute that prompted White House staff to call the bureau and express opposition, the Census Bureau was overruled by Republican Commerce Secretary Robert Mosbacher, who called the proposed statistical adjustment “political tampering.” The Supreme Court later ruled in 1999 that the use of statistical sampling cannot be used to apportion House seats, but indicated that adjustments could be made to the population count when redrawing congressional boundaries.

    Current Commerce Secretary Gary Locke has said there are no current plans to use sampling for redistricting.

    Groves, now a professor at the University of Michigan, would take over at a critical time. Census officials acknowledge that tens of millions of residents in dense urban areas — about 14 percent of the U.S. population — are at high risk of being missed due to language problems and a deepening economic crisis due to the financial meltdown that has displaced homeowners.

    The government is devoting up to $250 million of the $1 billion in stimulus money for outreach, particularly for traditionally hard-to-count minorities. But Hispanic and other groups are warning that traditional census outreach will not be enough, citing in particular rising anti-immigration sentiment after the Sept. 11, 2001 terror attacks.

    Republicans, too, have been crying foul after the White House earlier this year indicated that it would take greater control over the census to address minority group concerns about Obama’s initial nomination of GOP Sen. Judd Gregg as Commerce secretary. Gregg later withdrew his nomination, partly citing disagreements over the handling of the census. The White House has since made clear that Locke will make the final decisions regarding the 2010 head count.

    Democrats and Republicans for years have disagreed on whether the census should be based on a strict head count or cross-checked against a “statistical adjustment” to include hard-to-track people, particularly minorities, who might have been missed.

    Meanwhile, the cost of the 2010 census is estimated to be $15 billion, the most expensive ever, and experts have long said the Census Bureau must do more to reduce a persistent undercount among minorities, as well as to modernize what is basically a paper mail-out operation that has been in place for decades.

    google.com/hostednews/ap/article/ALeqM5jya_jweGPtQBqY9CjZGQWQm1XXbAD97ADNV00

  • JanH

    President Obama’s Aunt Avoids Deportation For Now

    Wednesday, April 01, 2009
    By Bret Baier

    Despite living in this country illegally, President Obama’s aunt will remain in the U.S. for at least another 10 months. Zeituni Onyango appealed her deportation order today. She lost her initial bid for asylum more than four years ago, but has continued to live in public housing in Boston.

    The judge pushed back her case until next February because of his packed schedule. Onyango, who is a Kenyan citizen, wore a curly red wig, fur coat and sunglasses to the hearing. The president has said that laws covering her situation should be followed.

    continues here…

    foxnews.com/story/0,2933,512108,00.html

  • JanH

    Obama Strains to Drive Message, as Friction Builds at G20: While the Obamas’ meeting with Queen Elizabeth II made headlines around the world, President Obama appears to be struggling to hold the gavel and drive the policy debate.

    Thursday, April 02, 2009

    President Obama is holding a solo press conference Thursday afternoon in London to shape the message coming out of the G20 summit, as he appears to be losing ground on economic policy among traditional allies. So far, the U.S. president has had no trouble holding the spotlight on his first trip overseas as commander-in-chief.

    But while he and first lady Michelle Obama’s meeting with Queen Elizabeth II made headlines around the world, Obama appears to be struggling to hold the gavel and drive the policy debate.

    White House aides told FOX News the president is holding a solo press conference to drive his own message and give foreign reporters access — which keeps Obama and his global policy platform visible around the world. The rest of the G20 nations are holding a separate news conference prior to the president’s.

    continued here…

    foxnews.com/politics/first100days/2009/04/02/obama-strains-drive-message-friction-builds-g/

  • turndownobama-com

    This link has got a great photo of Michelle Obama in a sleeveless low-neck ‘tank top’ posed next to a Middle Eastern lady who is wearing full cover-up face only, like a nun. What kind of a slap is that at the ME culture — where arms and neck are considered as indecent as topless would be for us?

    LAT: EASY POST Michelle Obama gaffe: She touches the queen
    It all started when the 82-year-old Queen Elizabeth, apparently smitten with the 45-year-old first lady, said she hoped they could stay in touch. And then the queen, who has met 12 U.S. presidents and any number of celebrities, broke royal etiquette herself by touching the first lady on the back. So, being an American, Mrs. Obama reciprocated the back-pat.

    H…./ NO W’S
    latimesblogs.latimes.com/washington/2009/04/michelle-obama-gaffe-she-touches-the-queen.html
    EASY POST.

  • rgb44hrc

    Admin found a good piece by Thomas Sowell up above, I thought it was worth putting the whole thing here for your convenience. It documents his lack of worthiness to become pres, questions the media’s complicity in helping elect him, questions voters for placing their confidence in an untested candidate, and lists some of his bigger screwups. Enjoy!

    A Rookie President
    ==============
    By Thomas Sowell
    March 31, 2009

    Someone once said that, for every rookie you have on your starting team in the National Football League, you will lose a game. Somewhere, at some time during the season, a rookie will make a mistake that will cost you a game.

    We now have a rookie President of the United States and, in the dangerous world we live in, with terrorist nations going nuclear, just one rookie mistake can bring disaster down on this generation and generations yet to come.

    Barack Obama is a rookie in a sense that few other Presidents in American history have ever been. It is not just that he has never been President before. He has never had any position of major executive responsibility in any kind of organization where he was personally responsible for the outcome.

    Other first-term Presidents have been governors, generals, cabinet members or others in positions of personal responsibility. A few have been senators, like Barack Obama, but usually for longer than Obama, and had not spent half their few years in the senate running for President.

    What is even worse than making mistakes is having sycophants telling you that you are doing fine when you are not. In addition to all the usual hangers-on and supplicants for government favors that every President has, Barack Obama has a media that will see no evil, hear no evil and certainly speak no evil.

    They will cheer him on, no matter what he does, short of first-degree murder– and they would make excuses for that. Even former Reagan speech writer Peggy Noonan has gushed over President Obama and even crusty Bill O’Reilly has been impressed by Obama’s demeanor.

    There is no sign that President Obama has impressed the Russians, the Iranians or the North Koreans, except by his rookie mistakes– and that is a dangerous way to impress dangerous people.
    What did his televised overture to the Iranians accomplish, except to reassure them that he was not going to do a damn thing to stop them from getting a nuclear bomb? It is a mistake that can go ringing down the corridors of history.

    Future generations who live in the shadow of that nuclear threat may wonder what we were thinking about, putting our lives– and theirs– in the hands of a rookie because we liked his style and symbolism?

    In the name of “change,” Barack Obama is following policies so old that this generation has never heard of them– certainly not in most of our educational institutions, where history has been replaced by “social studies” or other politically correct courses.

    Seeking deals with our adversaries, behind the backs of our allies? France did that at Munich back in 1938. They threw Czechoslovakia to the wolves and, less than two years later, Hitler gobbled up France anyway.

    This year, President Obama’s attempt to make a backdoor deal with the Russians, behind the backs of the NATO countries, was not only rejected but made public by the Russians– a sign of contempt and a warning to our allies not to put too much trust in the United States.

    Barack Obama is following a long practice among those on the left of being hard on our allies and soft on our enemies. One of our few allies in the Middle East, the Shah of Iran, was a whipping boy for many in the American media, who vented their indignation at his regime– which now, in retrospect, seems almost benign compared to the hate-filled fanatics and international terrorism sponsors who now rule that country.

    However much Barack Obama has proclaimed his support for Israel, his first phone call as President of the United States was to Mahmoud Abbas, President of the Palestinian National Authority.
    Our oldest and staunchest ally, Britain, has been downgraded by President Obama’s visibly less impressive reception of British Prime Minister Gordon Brown, compared to the way that previous Presidents over the past two generations have received British Prime Ministers. President Obama’s sending the bust of Winston Churchill in the White House back to the British embassy at about the same time was either a rookie mistake or another snub.

    We can lose some very big games with this rookie.

  • rgb44hrc

    admin Says:

    April 1st, 2009 at 7:11 pm
    JanH, we have thought of printing some of those barely literate communications but it would only encourage them. And yes, there are many whines.
    &&&&&&&&&&

    “Oh, maitre d’, I would like to see a menu of your best whines.”

  • rgb44hrc

    JanH Says:

    April 1st, 2009 at 8:18 pm
    US says it will cut frequency of China talks

    By MARTIN CRUTSINGER – 2 hours ago

    WASHINGTON (AP) — The Obama administration said Wednesday it will continue high-level talks with China started under the Bush administration, but will only hold one per year while expanding the scope beyond economics to foreign policy.
    &&&&&&&&&&&&&&&

    obama’s going to limit talks with our biggest creditor, but he’ll put out the welcome mat for Iran or North Korea???

    “Stop in any time, no preconditions.”
    “We’re having a barbecue Saturday”
    “North Korea, I feel your pain. xxooxxoo”

  • JanH

    “Barack Obama is following a long practice among those on the left of being hard on our allies and soft on our enemies.”

    ———————————————-

    That’s just because our allies are his enemies and our enemies are his best buddies!

  • neetabug

    JanH Says:

    April 2nd, 2009 at 1:01 pm
    President Obama’s Aunt Avoids Deportation For Now

    ————————————————————-

    Did i read somewhere O’s aunt is collecting welfare?

  • JanH

    Hillary meets royalty, but no hugs with queen

    Thu, 04/02/2009

    Much has been made about Michelle Obama’s hug with Queen Elizabeth II, but let’s not forget Secretary Clinton. Yesterday, she too met the queen during the Buckingham Palace reception for world leaders attending today’s G-20 summit. Above, it looks like the queen and French President Nicolas Sarkozy are attentively listening to Clinton’s wise words.

    Some touching did go on, however, though it didn’t involve the queen. Below, Sarkozy appears to be sharing a gripping moment with Clinton during the reception.

    See pictures at:

    hillary.foreignpolicy.com/posts/2009/04/02/hillary_meets_royalty

  • JanH

    Don’t use economic crisis as pretext to cut aid: Bill Clinton

    BRUSSELS (AFP) — World leaders must not use the current economic crisis as a pretext to cut back on aid to the world’s poorest, former US President Bill Clinton said Thursday. Clinton was speaking at the EU parliament in Brussels while G20 leaders in London ordered a huge economic rescue package, including hundreds of billions of dollars for the IMF and a pledge to spend five trillion dollars on the world economy by the end of 2010.

    “I support my secretary of state, we can’t walk away from the world,” said Clinton, referring to his wife Hillary Clinton.

    The former Democrat president warned in an address at a “Global Progressive Forum” that in the “profoundly unstable” and “profoundly unequal” world, the current development situation was “non-sustainable”. He cited the situation in Haiti where AIDS victims die because “they do not have access to health systems” and the problems related to climate change. Clinton urged “progressive” leaders present in Brussels to consider how they could translate their good intentions into concrete action.

    The forum in Brussels, which attracted 1,500 people, was also addressed by a string of figures from the socialists and social-democrat ranks. They included World Trade Organisation chief Pascal Lamy and EU Trade Union Confederation chief John Monks.

    google.com/hostednews/afp/article/ALeqM5igfS6p9qpdnbQMuuccWMT9y8DmTQ

  • rgb44hrc

    neetabug Says:

    April 2nd, 2009 at 2:19 pm
    JanH Says:

    April 2nd, 2009 at 1:01 pm
    President Obama’s Aunt Avoids Deportation For Now

    ————————————————————-

    Did i read somewhere O’s aunt is collecting welfare?
    &&&&&&&

    Is she collecting welfare and living in the WhiteHouse at the same time??? Inquiring minds want to know!!!

    “It’s so nice to have a wonderful place to stay when I “visit”, wonderful food, and I put that money aside for my personal needs. And to think, I’m not even a citizen”.

  • NewMexicoFan

    Hillary looked great in those two photos, I would say a true negotiator at work.

  • wbboei

    But while he and first lady Michelle Obama’s meeting with Queen Elizabeth II made headlines around the world, Obama appears to be struggling to hold the gavel and drive the policy debate
    ____________________________________________
    This one was not hard to predict. He commands the spotlight but cannot hold the gavel or drive the policy debate.

    So what is he–I mean really, what is he?

    1) a leader: hell no!

    2) a celebrity: youbetcha!!!

    But let us not be too cynical:

    1) give him a chance: to do what? wreck the world economy like he is wrecking the US economy?

    2) he has protected the dollar as reserve currency: wrong. He is weakening it as we speak. China, Russia and the IMF has sent a clear message of where they are going. In the end he will aid and abet them because he is so damned weak.

    3) he is committed to European security: Is that why he tried to do a backroom deal with the Russians, and they outed him. Suddenly, Europe is backing away from him, and their media is calling the game on him.

    4) he is the salvation: is that why he is holding his own press conference. To put lipstick on the pig, when he was no more effective in leading a sophisticated group of world leaders, than he was in leading congress to a solution to the banking crisis when he and mccain went to Washington during the campaign. Then as now he is the Rodney Dangerfield of economic diplomacy. No respect. An embarrassment.

  • admin

    NEW ARTICLE IS UP.

  • JanH

    What the heck is m.o. wearing???

    dailymail.co.uk/femail/article-1166336/First-Ladys-fashion-sense-falters-Michelle-Obama-Sarah-Brown-meet-day-G20-summit.html

  • admin

    JanH, those outfits, including Brown’s, are horrid. The Mail article is very funny. Brown’s dress is too tight and ill fitting. Mary Todd’s is an embarrassment – of note because she advertises herself as a fashion icon. Fashion icon wannabees should also learn to wear heels if they are going to wear heels. Mary Todd reminds us (particularly in her official portrait wherein her fingers on a table keep her from toppling over) of the 1950s science fiction mess here:

  • wbboei

    For simplicity, assume the assets could be worth $20m or zero with equal probability. Assume that yours is the winning bid at a price of $10m. Under Mr Geithner’s plan, you put up $750,000 for an equity stake and the government puts up the remaining $9,250,000: a loan for $8,500,000 and $750,000 for an equal share of the equity. There is a 50 per cent chance that you will get your money back in full and make a profit of $5m (in which case the other $5m in profit goes to the Treasury). Of course, it is equally likely that the assets will turn out to be worthless, but in that case all you lose is your initial payment of $750,000, and the Feds are on the hook for the rest. That works out to an expected profit of $2,125,000 for an investment of $750,000, a return of 283 per cent.

    If this seems too good to be true, it is: competition from other bidders will probably drive the bid price much higher. This would be unfortunate, however, because $10m is already the expected value of the asset. For example, a bid price of $14m would still be a bargain, because the investor’s expected profit would be approximately $1m on an initial investment of approximately $1m, which represents a 100 per cent return. Meanwhile, the taxpayers can expect to lose nearly 40 per cent of their money.
    This is the singularly perverse feature of the Treasury proposal: the greater the competition among the bidders, the worse off the taxpayers and the more distorted the so-called “market” prices that result. More generally, one can work out the amount of price distortion and the expected returns to the taxpayers as a function of the variance in the realised values of the asset and the expected returns demanded by investors.
    —————-
    Insanity.