Wall Street Meltdown & Re-Regulation

Wall Street Meltdown & Re-Regulation

President Obama to Wall Street:

“…normalcy cannot lead to complacency.”

“…hear my words We will not go back to the days of reckless behaviour and unchecked excess at the heart of this crisis, where too many were motivated only by the appetite for quick kills and bloated bonuses.”

In Federal Hall, in the heart of Wall Street, President Obama warned of coming re-regulations, brining a tightening of rules that were cast aside first by President Ronald Reagan, President Bill Clinton and President George W. Bush. The seeds of this current Economic disaster started a long time ago.

President Obama is proposing a new Consumer Financial Protection Agency, with the mandate to oversee financial products sold to consumers. Not surprisingly, this is opposed by lobbyists some lawmakers and other regulatory agencies, those that failed in their duties the first time around! These groups and individuals would say no it wasn’t Law; they still had the responsibility to report to Congress after investigation and state their concerns. In this they did fail miserably, with the current damage Worldwide to Billions of people, and as always the poorest countries on Earth have been harmed the most.

Five of the biggest Banks in America have posted second quarter profits of $13-billion dollars, one quarter, double what they made in the second quarter of 2008. Near record profits are coming for the banks that caused chaos in Financial Markets Worldwide, causing Trillions in losses for consumers. Once again, the stink doesn’t linger on the expensive suits of bankers, but in the nostrils of the poor.

Wall Street executives, bankers and traders all have been guilty of seeking quick profits and bonuses at the expense of all their fellow citizens, the economy in general around the World and the companies that are traded in the markets. Many companies and individuals have been financially destroyed to create bonuses for those same bankers and traders at everyone else’s expense. Lost a 401K, your house, the kids can’t go to College? Thank Wall Street greed, that greed is the only constant in this whole debacle!

There was a time when companies, built slowly over time with long term goals, building a solid entity with true value. It seems with human life so short, many cannot wait and belly up to the trough and pig-out as soon as possible.

Shame.

Politics of Fear

Republican Obstructionism

Observing from Canada we see Politics from two perspectives, Canadian and American political manoeuvres. This allows us to compare, evaluate and critique these Machiavellian designs intended to “slip one by the unsophisticated peasants.” Our politicians are very much similar, that is why we detest them as much as you do!

The Republicans in your country are very much “the Party of Fear.” This was demonstrated throughout the last Administration, i.e. “threat level Orange” and other manipulations coming to light, frighten them with an attack and we will maintain power, cynical in the extreme. The current debate on Health Care reform is a perfect example. A majority of The American People and lawmakers unquestionably agreeing this to be critical both economically and fiscally to the Nation, find rabid opposition with “very deep pockets” flooding the airwaves nationally attempting to “frighten the peasants” into opposition. Threatening “death panels” and other such nonsense to put fear into the hearts of vulnerable people, the retired and possibly ill informed that may be easily swayed.

The so called “public option” would be a boon to small and medium sized businesses, giving these employees health coverage, at a reasonable cost and removing any stress between boss and employee should the company not be able to afford the ever increasing costs they currently face. Rather than cancelling your employee’s health care due to cost, leaving them and their families unprotected. The employee’s family are protected, the relationship between employer and employee is less tense and one less cost is removed from “the cost of doing business.” Business in Canada love our health care system, partially for that reason.This is also a cost advantage economically when you and your trading partners have a level playing field.

There was a time when politicians of both parties would do what was best for the country, sadly that time seems to have gone. Someone else said once “The World is what we make of it.” What shall we make of our World?

Will there be bi-partisan Healthcare reform?

The pundits have done a great deal of surmising if the recent death of a revered man, Senator Edward Kennedy, would bring about long overdue bi-partisan action on Healthcare reform. Seldom in the news media are simple questions asked, “do vested interests..financial interests draw the line in the sand between the parties?”

The cost of Health Care is expected to double during the next 10 years by some estimates. This means, if the “Presidential swap cycle” holds course, a Republican President will be in Office at the time. Then another “drug savings for seniors” sham will be played again…distract and divide or is that divide and conquer?

Now is the time for real, substantial change in Health Care, not several Trillion dollars later! Great criticisms have been heaped on the Canadian Health Care system, a few facts are definitely in order.

A Tip of the Hat to President Obama

The President has entered Office at a critical time on endless fronts; two Wars, an economy in shambles, Worldwide recession…ad infinitum. The people responsible for the chaos are many and diverse, residing in many countries around the globe. A timid leader will not do in these hazardous times and President Obama has definitely “hit the ground running.”

The Republican party is in disarray after their “less than stellar” sheparding of World Affairs has left this “burning paper bag of dog….” on the White House stoop. The Obama Team seems little fazed by the mess, in every department and file of the government. The President has shown to be adept at handling his own Party, considering all the primadonnas, and has steadily moved forward with an ambitious agenda, unlike The Bush Administration that could not seem to focus on more than two items at a time.

The War in Iraq is winding down and will end well for the Iraqi people. Once their own people are in charge of security, attacks against the government will be seen as an attack on Iraq and her people. The regional “bad actors”, Iran being the prime contributor to the attacks in Iraq, Afganistan and Pakistan, will have to adjust her deeply flawed tactics. The tempo of the War in Afganistan will soon increase again, it should never have been ignored for so long. It gave false hope to the Taliban and cost uneccessary loss of lives.

The American people’s confidence in President Obama grows more every day. He has placed a confident and competent team in place, Robert Gates as Secretary of Defense is the best man for the job. Timothy Geithner at Treasury still has to prove his policies are effective. One sore spot, Janet Napolitano, should do some research before making public statements such as “9-11 attackers entered the U.S. across the Canadian border.” The anger from Ottawa, the Capital of Canada, was turning the water to steam on the waterways separating the two countries. Once again an untrue, “water cooler story” with no basis in truth, is being repeated by senior government personnel. Incompetence.

In mid 2010 the economy will start to build again, the Wars in Iraq, Afganistan and Pakistan will look far different than they do today, not peace but under control. The confidence will begin to return, around The World.

Obama and The House Democrats – Pals??

President Obama will have his hands full, not with the traditional Democratic adversaries Republicans….but with Nancy Pelosi and Harry Reid. The fur is already starting to fly, backs are arching and “low growls can be heard around the Capitol.”

The behind the scenes power plays will now begin in earnest! Faces and names MUST be center stage, a Politicians “raison d’etre.”
Me thinks there will be some harsh words behind closed doors regarding this behaviour on day two of President Obama’s first term…? I predict a second term…without doubt!
The current near catastrophic situation, left behind “like a burning paper paper bag full of….” on the doorstep by the Bush Administration will take at least a decade to clean up.
Then after two terms the “old switcheroo”, Republicans will be given their next “kick at the can”. At that time I predict after all the chaos begins to quiet down the old mantra of The Republican Party will re-emerge “lower taxes on the rich and all will be well with The World.” We’ve seen how that works after eight years of The Bush Administration, haven’t we?

Ice Age…boy were they wrong!@!

A little known fact seems to be, “just before an Ice Age occurs the Earth gets very warm.” Hmmmmm…..

The age of The Earth is about 4.5 Billion years, our documented temperature change records are about 150 years, do we really have enough information…?? I suspect not. Ice and soil core samples used by Geologists give what we believe are fairly accurate readings regarding temperature, air and other chemical signatures. Ice Ages have occured with frightening regularity over the Millennia.

The radical Scientists, making television and Academic careers by frightening the peasants should be ashamed! The average person has “more than enough angst to deal with now” – what with terrorism, War, unemployment, the price of gas/food and other basic necessities. “Fear is our common enemy”, used by our own and external enemies. The fear engendered by the terrorists in this World is almost their only weapon*** When you may have our own citizens and countrymen using this fear for their own devices is “truly frightening!”

Climate change…? Really?

The climate change debate is FAR from over. Respected Scientists with many decades of study and service to Mankind have been ridiculed and silenced by “extremists” bent on furthering their own careers or unwilling to engage in open, honest debate about their “theories.”

I have been watching, reading and considering both sides for at least 4 decades. I have Occupational Asthma from work as a machinist, it will kill me prematurely, I am ANGRY to. Our Environment has NEVER been protected by our Governments, we MUST change that ! The important question is….”do we destroy our already injured Economy” to achieve a lofty goal quickly, or in a more methodical and orderly fashion?

Apologies

Apologies:

I must apologize for an extended absence. The turmoil and demands of Life have robbed me of time to partake of a tue pleasure…..honest open and reciprocal communications between equals**
The World has remained a MESS!!! Conflict and chaos, most caused by the agenda’s of radicals. I grew up in the “Mother of all – fighting the Establishment Eras in History.” The Vietnam War was lost, discontinued because of the knowledge and education of a populace that distrusted their Governments, we still do…(Nixon..et al).
The Western Democracies still offer the best hope for Humanity, by far…. not because of our Governments competencies, because of the compassion, caring and Love of Humanity of it’s people.
We do not condone violence against the “common people” nor the use of violence against a Political opposition party because of their beliefs. We agree with safety and security for all*
Those that try and “use us for Political gain” will soon find, they have “bitten off more than they can chew!”

McCain delays Vice Presidential Debate

Sarah’s NOT Ready??

September 24, 2008

 

            Senator McCain has proposed returning to Washington, where he hasn’t been involved in a vote since April, to become involved in the “Bailout debate.” This is a political stunt, to appear decisive and Presidential; it also delays this Friday’s debate with Senator Obama. More critically to the voters, it delays the Vice Presidential debates, why?  Sarah is unprepared because of her lack of experience in World Affairs.

            To delay a debate that both candidates, McCain and Palin are unprepared for, is showing great potential Presidential fortitude ..not, and probable future behavior if elected.

P.S. Glenn Beck

I do love Glenn Beck, he loves the country and is passionate about defending it. God Bless you Glenn Beck, Democrats can care about Republicans, even when they are mistaken.

Gandalf the Grey