Irregular Times Diaries: Unfit Discussion

With all the talk about Sarah Palin and her latest question-evasions, I thought the economy has been getting less than it’s needed share of coverage. After all, just a couple of days ago the stock market was in a crisis, the DOW dropped around 400 points in a day, AIG pretty much went bankrupt, and gold set a record for most gain in a single day by ground from around $740 bucks a troy ounce to $860 a troy ounce.

More Americans are focusing on the economy, a place where John McCain has admitted he sucks at and Sarah Palin has established herself to be incapable of balancing a budget.

So for this crisis, what is Bush’s solution? Set aside 700 billion dollars to buy shit assets without a plan to have that money paid back.

Here, I’ll let you read for yourself.

Bush team, Congress negotiate $700B bailout.

Bush team, Congress negotiate $700B bailout
By JULIE HIRSCHFELD DAVIS and DEB RIECHMANN, Associated Press Writers 33 minutes ago

The Bush administration asked Congress on Saturday for the power to buy $700 billion in toxic assets clogging the financial system and threatening the economy as negotiations began on the largest bailout since the Great Depression.

The rescue plan would give Washington broad authority to purchase bad mortgage-related assets from U.S. financial institutions for the next two years. It does not specify which institutions qualify or what, if anything, the government would get in return for the unprecedented infusion.

Democrats are pressing to require that the plan help more strapped borrowers stay in their homes and to condition the bailout on new limits on executive compensation.

Congressional aides and administration officials are working through the weekend to fill in the details of the proposal. The White House hoped for a deal with Congress by the time markets opened Monday; top lawmakers say they would push to enact the plan as early as the coming week.

“We’re going to work with Congress to get a bill done quickly,” President Bush said at the White House. Without discussing specifics, he said, “This is a big package because it was a big problem.”

The proposal is a mere three pages long, but it gives sweeping powers to the government to dispense gigantic sums of taxpayer dollars in a program that would be sheltered from court review.

“It’s a rather brief bill with a lot of money,” said Sen. Chris Dodd, D-Conn., the Banking Committee chairman. “We understand the importance of the anticipation in the markets, but we also know that what we’re doing is going to have consequences for decades to come. There’s not a second act to this — we’ve got to get this right.”

Lawmakers digesting the eye-popping cost and searching for specifics voiced concerns that the proposal offers no help for struggling homeowners or safeguards for taxpayers’ money.

The government must bail out the financial system “because if we don’t, it will have a tremendous impact on American consumers, homeowners, taxpayers and the rest,” House Speaker Nancy Pelosi, D-Calif., said in San Francisco.

But, she added, “We cannot deal with this unless this bailout helps families stay in their homes.”

Senate Majority Leader Harry Reid, D-Nev. said “we cannot allow ourselves to be in denial about the threat now facing the world economy. From all indications, that threat is real, and the consequences of inaction could be catastrophic. Every single American has a stake in preventing a global financial meltdown.”

The proposal would raise the statutory limit on the national debt from $10.6 trillion to $11.3 trillion to make room for the massive rescue.

“The American people are furious that we’re in this situation, and so am I,” the House’s top Republican, Ohio Rep. John A. Boehner, said in a statement. “We need to do everything possible to protect the taxpayers from the consequences of a broken Washington.”

Signaling what could erupt into a brutal fight with Democrats over add-on spending, Boehner said “efforts to exploit this crisis for political leverage or partisan quid pro quo will only delay the economic stability that families, seniors, and small businesses deserve.”

Bush said he worried the financial troubles “could ripple throughout” the economy and affect average citizens. “The risk of doing nothing far outweighs the risk of the package. … Over time, we’re going to get a lot of the money back.”

He added, “People are beginning to doubt our system, people were losing confidence and I understand it’s important to have confidence in our financial system.”

Neither presidential candidate took a position on the proposal. GOP nominee John McCain said he was awaiting specifics and any changes by Congress.

Democratic rival Barack Obama used the party’s weekly radio address to call for help for Main Street as well as Wall Street.

Their language reflected a tricky balance that politicians in both parties are trying to strike, just six weeks before Election Day: Back a plan that doles out hundreds of billions to companies that made bad bets and still identify with the plight of middle-class voters.

Besides mortgage help and executive compensation limits, Democrats are considering attaching middle-class assistance to the legislation despite a request from Bush to avoid adding items that could delay action. An expansion of jobless benefits was one possibility.

Bush sidestepped questions about the chances of adding such items, saying that now was not the time for posturing. “I think most leaders would understand we need to get this done quickly, and you know, the cleaner the better,” he said about legislation being drafted.

Treasury officials met congressional staff for about two hours on Capitol Hill on Saturday. Discussions centered on how the plan would work, and Democrats proposed adding the executive compensation limits and new foreclosure-prevention measures. Details of those changes were not available Saturday, as staff aides worked to draft them. Bush and Treasury Secretary Henry Paulson conferred by phone for about 20 minutes in the afternoon, gauging how the negotiations were unfolding.

Among the key issues up for negotiation is which financial institutions would be eligible for the help. The proposed legislation doesn’t make it clear, leaving open the question of whether hedge funds or pension funds could qualify.

The proposal does not require that the government receive anything from banks in return for unloading their bad assets. But it would allow the Treasury Department to designate financial institutions as “agents of the government,” and mandate that they perform any “reasonable duties” that might entail.

The government could contract with private companies to manage the assets it purchased under the rescue.

Paulson says the government would in essence set up reverse auctions, putting up money for a class of distressed assets — such as loans that are delinquent but not in default — and financial institutions would compete for how little they would accept.

I understand the need for quick action in a case like this, but trying to rush through a bill of 700 BILLION dollars with only two days of debate and thus far no assurances that John Q is gonna be able to keep a roof over his head and little or no stipulations as to getting the money back aside from Bush’s word that “we’ll get a lot of it back over time”? Yeah, considering his track record I’m less than reassured.

Actually, I’m horrified.

Oh, I just loved the part about the national debt. From $10.6 trillion to $11.3 trillion if the bill passes. Whoopie.

In other news; 40 people in a Pakistan hotel were killed by a suicide bomber.

Barack Hussein Obama! Republicans have made a big deal out of using Barack Obama’s middle name, Hussein, trying to imply that because his middle name is Hussein, Barack Obama must be some kind of radical Muslim terrorist. The underlying Republican theory is that people’s middle names reveal profound insights into their character.

So, who wants to place a bet that the political operators at Fox News and other Republican-controlled media will not give the same treatment to Joe Biden? Will they use Biden’s middle name every time they talk about him? Will they call him Joseph Robinette Biden?

Let’s be honest about this: Robinette is way more weird a middle name than Hussein. Hussein is the Arabic equivalent of Bob. Nowhere, but nowhere, is the name Robinette normal.

So far, Fox News has never used Biden’s full name: Joseph Robinette Biden. So, why does Fox News refuse to use Joe Biden’s middle name? Are they afraid of being politically incorrect and exposing the meaning of the name Robinette? Are they covering up an illegal immigrant invasion by French choreographers? Are they worried that their viewers will learn about Biden’s Robinettofascism?

Shocking revelation: Robinette is a girl’s name! So, just like Barack Hussein Obama must be an Arab Muslim, Joe Biden must be a girl!

Also, Robinette is a form of the name Robin, which means “bright fame”. And Joe Biden is famous… just like a false messiah! This all just goes to prove that Barack Obama must be the antichrist.

It’s elementary logic, see.

Obama cites faith as key to change, says today’s headline for the Boston Globe (Actually, it’s an Associated Press article – the newspapers don’t bother writing their own stories much any more).

Is it true? Is Obama right? Is faith the key to change?

Well, gosh, but that’s sure how it looks with the FISA Amendments Act.

Barack Obama says that the FISA Amendments Act isn’t a cover up of Bush’s criminal spying against millions of Americans without any criminal suspicion, any search warrant, or any notification of any court as required by law and the Constitution. Yet, the FISA Amendments Act gives retroactive immunity to the telecommunications companies that helped George W. Bush break the law, preventing information about the illegal program against the American people from entering the public record. Gosh, that sure looks like a cover up. Oh, but Barack Obama says it isn’t, so have faith, and don’t think about it any more.

Barack Obama says that the recent Inspectors General report into illegal hiring practices is a “strong example” of how there might still be some accountability for Bush’s crimes, in spite of the FISA Amendments Act blockage of the normal forms of investigation. Yet, the Inspectors General report that Obama cites resulted in no accountability whatsoever for anyone responsible for the crimes it describes. Gosh, that doesn’t look anything at all like a “strong example” of accountability. Oh, but Barack Obama says it’s true, so have faith, and just don’t think about it any more.

Barack Obama says that the FISA Amendments Act will stop George W. Bush’s massive programs of physical searches of Americans’ homes and eavesdropping on Americans’ electronic communications. Golly, if you take the time to read the FISA Amendments Act, though, it allows the President to continue those programs, without any actual restraint. Oh, but Barack Obama says that all the spying is going to stop, so have faith, and don’t worry your little head about it any more.

Barack Obama says that the FISA Amendments Act restores the exclusive jurisdiction of the FISA court to control George W. Bush’s big spying programs against Americans. Gee whillikers, though, the FISA Amendments Act that I’ve read actually gives the Attorney General of the United States the exclusive power to both operate the spy programs against Americans and to be the watchdog of those same spy operations. The FISA Amendments Act that I’ve read actually cuts the FISA court OUT of the process. Oh, but Barack Obama says it isn’t so. He says it’ll be okay. He says you don’t have to worry. He says yes you can send him a big donation. So, have faith.

See, with the power of faith, there can be change! The change in this case, is that the FISA Amendments Act and its attack on the Constitution gets passed, but who needs to be picky?

Change is change, right? Who cares about the details?

Yes we can! Baaa! Change we can believe in! Baaa! Hope! Baaa!

At best, I was a half-hearted supporter of Obama’s. I was never overly enthused by him, though there were some periods where I thought I’d be able to call myself an Obama supporter with a measure of dignity. Over the last few weeks, that illusion has been shattered.

For all his talk and all his charm, Obama’s showing me now what I can expect in the future; more of the same old G.W.B. bullshit. As I look on his stances on the FISA amendments and now the faith-based bullshit, I can’t help but be left to reflect on our current situation.

Over the last 8 years, two presidential terms, George Bush has pulled some of the most unlawful actions in American history with impunity. Anything he wanted, he got on a golden platter. Anything illegal he did was turned a blind eye to by those sworn to uphold the rule of the law. I am now convinced that this attitude has forever ruined American politics and will lead us into a new age where corruption runs unchecked.

Obama now knows he’s got a 50-50 chance of getting the presidency and that Americans are pretty pissed at Republicans so the pressure’s pretty well off him now. And he’s been shown that the president can snub his nose at the law and Congress will roll over like the impotent, toothless tiger that it’s become.

And really, what choice do we, the people, have but to grin and bear it? There’s nothing that I know of which can force a reform to the corrupt politicains we now have in office. There’s no third party I can vote for because rarely, if ever, does a third party get on the ballet here in Oklahoma. Any time a third party gets media attention, it seems, it is laughed down until it crawls back under it’s rock.

The only thing I can think of, which I’ve mentioned before, is revoke the guarenteed spots on the ballots for Republicans and Democrats, but I know that won’t happen with the government the way it is now. I honestly want to know what can be done to change the way things are. I know, call my senator and voice my opinion, but even then the shit that shouldn’t be passed through congress is still being passed.

I thought I was going to vote this year, but I’m now seeing myself with the same options as when I thought Hillary Clinton was going to get the nomination; a choice between a Republican and a Republican Lite. Which one will shit on the Constitution less?

Obama, I thought you were the voice of change, I thought you were a voice of hope, but now I see what’s under the sheep’s clothing and I’m not impressed.

Will America ever return to the way it was before Bush got into office?

I just quit MoveOn. It isn’t because I disagree with their politics. It’s because they have compromised their politics.

Just yesterday, I got an email from MoveOn expressing their opposition to H.R. 6304, the FISA Amendments Act. That’s the right stand, because the FISA Amendments Act is a terribly abusive law that violates the Constitution and breaks trust with the American people. It allows massive, unrestrained spying programs by the government against American citizens, without any search warrant or any form of probable cause required.

The people who voted for the FISA Amendments Act won’t tell you this. They’ll tell you that the powers granted under the bill are just fine, and there’s nothing to worry about. But, have you actually read the legislation? Don’t believe what they tell you until you’ve read the bill yourself.

It’s bad enough that 105 Democrats in Congress turned coat and joined forces with George W. Bush to pass the FISA Amendments Act. What’s worse is that Barack Obama has announced he will join them. Barack Obama is betraying the supporters who helped him win the Democratic nomination.

What about MoveOn? They’re pretending nothing has happened. They’re moving ahead with fundraisers for Barack Obama.

That’s not the kind of politics that MoveOn is supposed to stand for. That’s why, until they repudiate Barack Obama or convince Barack Obama to change his position, I have quit MoveOn.

I encourage you to do the same. Here’s the short message I sent to Moveon explaining why I’ve quit.

“Barack Obama just endorsed the FISA Amendments Act. MoveOn says it’s against that law, as it should. It’s a betrayal of the Constitution and an abuse of our trust. Barack Obama should lose the endorsement of MoveOn because of this betrayal. When MoveOn repudiates Barack Obama, I will rejoin MoveOn. Until then, I will not be with you – and no bake sales for Obama.”

Are you feeling wistful at the news that Barack Obama has clinched the 2008 Democratic presidential nomination? Did you have another first choice? Hillary Clinton, maybe, or Christopher Dodd, or John Edwards? Well, here’s a way to express that wisty feeling while still supporting Barack Obama in the general election:

On this, the day when Barack Obama finally clinches the Democratic nomination, there are two different ways to look at what lies ahead. One way is to say that all the work is finally over. People who follow that way will let the summer begin, and not even think about lifting a finger to support Barack Obama until September.

That’s a tempting way, because it’s an easy way. There’s a problem with it, though: Do you think that John McCain and the Republicans will take that approach?

Don’t you bet on it. The trouble is that, with the long Democratic primary, the Democratic National Committee has almost no money left. The Republican National Committee, on the other hand, has a lot of money – about 40 million dollars on hand.

With that money, within the week, the RNC is going to start sending out vicious attack ads against Barack Obama. They’re going to try to make Obama into mud before he even has the chance to start his general election campaign.

Are you going to let that happen? No? Okay. Then there’s the second way: That way is to get to work NOW, to help the Barack Obama for President campaign hit the ground running, prepared to deal with the nasty Republican attacks to come.

To take this second proactive approach, I suggest two steps:

1. Go to Barack Obama’s official campaign web site and sign up as a volunteer. You don’t need to give money, but giving your time is essential.

2. Get a bumper sticker for your car, a button for your jacket and a lawn sign for your yard. These all spread the message that ordinary people, folks who live in your neighborhood, support Barack Obama. That kind of statement is much more effective than an impersonal television commercial, no matter how slick it is. This campaign is going to have to be a grassroots one, and showing campaign gear is a great way to demonstrate a grassroots Obama presence in your community.

Here are some sources we’ve got for Obama campaign gear:

- Obama 2008 t-shirts made in the USA made over at Skreened

- Campaign Lawn Signs and Banners for Obama

- Obama bumper stickers over at My President and New White House

- Barack Obama campaign buttons and magnets over at Irregular News

Each of these different sources has unique Barack Obama campaign gear so that you can stand out with a pro-Obama message that’s just right for you – to keep. This stuff will have greater historical meaning as the years pass, and you’ll be able to take these things out to prove to your children and grandchildren that you were there, helping to elect Barack Obama as President of the United States.

Democracy is about the will of the people, right?

In a democracy, the will of the people is expressed through their votes, right?

Well, if you count up all the votes from all the primaries, who has the most?

Hillary Clinton.

Hillary Clinton has the most votes.

The will of the people is for Hillary Clinton to be the next president.

Tennessee Representative and superdelegate John Tanner endorsed Hillary Clinton for President yesterday, in news ignored by the Mainstream Media but just as important in determining the outcome of the national presidential primary election! Congressman Tanner is just the sort of moderate American politician who appeals to ALL Americans, and his decision to support Hillary Clinton is a sign that Hillary Clinton can and WILL WIN in November. Says Tanner, “In my opinion, the best person to lead this critical effort is Hillary Clinton. Hillary is a smart, pragmatic leader who understands the grave situation our country faces, with a $9 trillion debt, much of which is borrowed from foreign countries. Now, more than ever, our nation needs a leader like Sen. Clinton who can work with others to return to fiscal sanity.”

Barack Obama is a nice young man, but he just decided to run for president last year. Hillary Clinton has been part of running the country for SIXTEEN YEARS! With John Tanner’s help, I will be proud to see my new president, Hillary Clinton, take the oath of office on January 20, 2009.

The presidential primary in North Carolina comes soon, in less than a month, on May 6. So, is it too late for you to register to vote in the primary? Not at all. The voter registration deadline is this month.

That’s an invitation for election manipulation.

North Carolina’s primary is semi-open, meaning that independents can vote in either the Democratic or Republican primary, just by showing up at a polling station on the day of the election and saying which party’s primary they want to vote in.

That’s bad enough, but the election deadline just weeks before the North Carolina presidential primary is practically an invitation for people of one political party to re-register as members of the other party in order to meddle in the other party’s election. This year, with John McCain already selected as the nominee of the Republican Party, there is no reason for North Carolina Republicans to go vote in their own party primary.

Instead, those North Carolina Republicans, along with the state’s mostly right wing independents, can flood into the Democratic presidential primary, and vote for the candidate that matches their values. There’s even the possibility that Democratic voters could be outnumbered by Republicans and independents.

Why would any state arrange for such a corrupt primary election system?