The dire warnings of Henry Paulson, Harry Reid, and Nancy Pelosi resulted in hundreds of billions of dollars to bail out Wall Street from the calamitous results of their own greed in leveraging up debt through derivatives to over 60 to 1 in order to make extraordinary earnings in up-markets to justify the collective multi-billion dollar bonuses they voted to themselves from what should have been shareholder earnings.
When the executive up-market adjusted, as always happens, the risk side of gambling with excessive leverage in this $680 trillion worldwide derivatives market brought most of Wall Street to virtual bankruptcy, as Warren Buffet foretold several years ago when he said the immense derivative market was a walking time bomb.
However, not to worry. Treasury secretary Paulson created a wall of fear to get taxpayer money to bail out his Wall Street buddies. The almost 90 percent disapproval by our people was considered by many congressmen to be based on ignorance, but it appears that it was the approving congressmen who were ignorant.
The proper means for resolving these problems was Chapter 11 bankruptcy proceedings, as overseen by the court, rather than throwing taxpayer money at the problem with no oversight.
Unfortunately, Obama too appears to be relying on the fear factor to see his immense $800 billion program, presumably to create jobs. Private sector jobs move to other necessary work when the job is finished and provide tax revenue, unlike the many government jobs which are anticipated in this plan. And, as Ronald Reagan said, government jobs remain after the need is past.
It is the private sector jobs we need, and for work that is truly necessary, not just prettying up the place. To get these jobs, our industry, and particularly small business, needs tax incentives.
The other way to do it is to let the government take charge and we can have the former Soviet ethic in our own society, “They pretend to pay us and we pretend to work.”
Although some pork has been removed from the bill, clearly, at its present level, much remains. Pork is purely for the purpose of buying votes which, ultimately, will be paid for by all of us in the inevitable “inflation tax.” The many congressmen who continue to place pork in the bills which go through Congress should review the oath of office they took to truly represent their constituents.
Obama should consider that what he is buying into as “change” appears to be no change at all, and the youth who gave him a large majority of their vote find little change in job opportunity resulting from this spending program.
Friends, there is a danger hiding in practically every home, office and school. It masquerades as a harmless office supply but in reality, it has the ability to make people mentally unstable, disable a school system, and virtually bring a small town to its knees. It's known as (cue scary music), the post-it note.
As a resident of Plainfield and frequent walker on our excellent trail system, I have often wondered what the laws are concerning the marked pedestrian crosswalks throughout town. So I talked to the Plainfield Police Department.
Mitt Romney went into the wrong line of work. If only he had been a lecturer in constitutional law, he wouldn't have a business record vulnerable to distortion by a desperate incumbent president.
Now that the Obama administration has officially sided with corrupting man-wife marriage to also mean two men or two women, it's time for Christians to reflect on what's going on in the culture. To be sure, the measure must pass certain hurdles to be the secular law of the land. And, if the Republican candidate wins come November, there may be a further delay in its implementation. But don't count on it.
I'm back from a few shows at the security theater.
I slogged my way through four airports this past month, and played my interactive role in that daily, multi-billion-dollar production brought to us by the federal government with the colossally misleading name of "airline security."
President Barack Obama insists that he didn't announce his support for gay marriage out of political considerations. He's right. He did it out of self-regard.
Is that smoke? I think I smell something burning. Something is definitely scorched. Did someone just burn a ham or did Patricia Krentcil, a.k.a. "tanning mom" just walk into the room?
U.S. Sen. Dick Lugar - vanquished by age, longevity, barrel bottom congressional approval ratings, and an aggressive opponent in Treasurer Richard Mourdock - seemed to be bridging a divided party when he took the stage shortly after 8 p.m. Tuesday as the magnitude of the 61 percent to 39 percent landslide against him registered.
The Cleveland Five are a sad-sack collection of wannabe terrorists if there ever was one. The amateurish young men who plotted to destroy a bridge outside Cleveland last week give the impression of needing the attention of a guidance counselor as much as a federal prosecutor.
Human remains may be embedded in the mud of the North Atlantic where the New York-bound Titanic came to rest when it sank 100 years ago, a federal official said.
Commentary
Letters to the Editor
March 5, 2009
Government ‘change’
is no change at all
To the Editor:
The dire warnings of Henry Paulson, Harry Reid, and Nancy Pelosi resulted in hundreds of billions of dollars to bail out Wall Street from the calamitous results of their own greed in leveraging up debt through derivatives to over 60 to 1 in order to make extraordinary earnings in up-markets to justify the collective multi-billion dollar bonuses they voted to themselves from what should have been shareholder earnings.
When the executive up-market adjusted, as always happens, the risk side of gambling with excessive leverage in this $680 trillion worldwide derivatives market brought most of Wall Street to virtual bankruptcy, as Warren Buffet foretold several years ago when he said the immense derivative market was a walking time bomb.
However, not to worry. Treasury secretary Paulson created a wall of fear to get taxpayer money to bail out his Wall Street buddies. The almost 90 percent disapproval by our people was considered by many congressmen to be based on ignorance, but it appears that it was the approving congressmen who were ignorant.
The proper means for resolving these problems was Chapter 11 bankruptcy proceedings, as overseen by the court, rather than throwing taxpayer money at the problem with no oversight.
Unfortunately, Obama too appears to be relying on the fear factor to see his immense $800 billion program, presumably to create jobs. Private sector jobs move to other necessary work when the job is finished and provide tax revenue, unlike the many government jobs which are anticipated in this plan. And, as Ronald Reagan said, government jobs remain after the need is past.
It is the private sector jobs we need, and for work that is truly necessary, not just prettying up the place. To get these jobs, our industry, and particularly small business, needs tax incentives.
The other way to do it is to let the government take charge and we can have the former Soviet ethic in our own society, “They pretend to pay us and we pretend to work.”
Although some pork has been removed from the bill, clearly, at its present level, much remains. Pork is purely for the purpose of buying votes which, ultimately, will be paid for by all of us in the inevitable “inflation tax.” The many congressmen who continue to place pork in the bills which go through Congress should review the oath of office they took to truly represent their constituents.
Obama should consider that what he is buying into as “change” appears to be no change at all, and the youth who gave him a large majority of their vote find little change in job opportunity resulting from this spending program.
Sandy Johnson
Indianapolis
Friends, there is a danger hiding in practically every home, office and school. It masquerades as a harmless office supply but in reality, it has the ability to make people mentally unstable, disable a school system, and virtually bring a small town to its knees. It's known as (cue scary music), the post-it note.
May 18, 2012
As a resident of Plainfield and frequent walker on our excellent trail system, I have often wondered what the laws are concerning the marked pedestrian crosswalks throughout town. So I talked to the Plainfield Police Department.
May 18, 2012
Mitt Romney went into the wrong line of work. If only he had been a lecturer in constitutional law, he wouldn't have a business record vulnerable to distortion by a desperate incumbent president.
May 18, 2012
And now, hold on to your hats because it's time for ...
Dentists In The News!
May 15, 2012
Now that the Obama administration has officially sided with corrupting man-wife marriage to also mean two men or two women, it's time for Christians to reflect on what's going on in the culture. To be sure, the measure must pass certain hurdles to be the secular law of the land. And, if the Republican candidate wins come November, there may be a further delay in its implementation. But don't count on it.
May 15, 2012
I'm back from a few shows at the security theater.
I slogged my way through four airports this past month, and played my interactive role in that daily, multi-billion-dollar production brought to us by the federal government with the colossally misleading name of "airline security."
May 14, 2012
President Barack Obama insists that he didn't announce his support for gay marriage out of political considerations. He's right. He did it out of self-regard.
May 14, 2012
Is that smoke? I think I smell something burning. Something is definitely scorched. Did someone just burn a ham or did Patricia Krentcil, a.k.a. "tanning mom" just walk into the room?
May 11, 2012
U.S. Sen. Dick Lugar - vanquished by age, longevity, barrel bottom congressional approval ratings, and an aggressive opponent in Treasurer Richard Mourdock - seemed to be bridging a divided party when he took the stage shortly after 8 p.m. Tuesday as the magnitude of the 61 percent to 39 percent landslide against him registered.
May 11, 2012
The Cleveland Five are a sad-sack collection of wannabe terrorists if there ever was one. The amateurish young men who plotted to destroy a bridge outside Cleveland last week give the impression of needing the attention of a guidance counselor as much as a federal prosecutor.
May 11, 2012
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Human remains may be embedded in the mud of the North Atlantic where the New York-bound Titanic came to rest when it sank 100 years ago, a federal official said.
April 16, 2012 3 Photos 3 Stories
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