The Dodd/Frank Special Edition
Now with Even More Taxpayer Money
and More Chances to Win When You Lose!
Endorsed by Goldman Sachs, George Soros
and Progressives Everywhere
Forward by Pres. Barack Obama:
"How to Spread the Wealth"
Caution: May Be Hazardous to your Morals!
One can only hope that the concept of "too-big-to-fail" doesn't extend to the overwhelming Democratic majorities in Congress, whom refuse to deal with the political opposition because they can, in next year's mid-term elections. The Wall Street Journal Monday discussed the upcoming related proposals by Senator Chris "Countrywide Loan" Dodd and Representative Barney "Let's Roll the Dice (with Fannie Mae and Freddie Mac!)" Frank. Apparently the biggest lesson from last summer and fall's economic tsunami was not that we bailed out companies that took on too much risk, but that too many foolish parties were left out of picking our grandchildren's pockets! Economic liberty includes the risk of failure; when progressives and government bureaucrats attempt to micromanage risk through misguided, heavy-handed rules and regulations, the result is investment flight in search of greater rewards--and, for America, lost jobs and tax revenues.
It's time to stop enabling dysfunctional businesses and their short-sighted management and tell the Democrats in Congress and the White House they have to live within their means and stop mortgaging America's future. Do the Democrats have any shame? This week, the dollar fell to a 14-year low against the Japanese yen. The Federal Reserve is caught between supporting a fragile economic recovery and fighting ruinous inflation, while the Democrats dither on unnecessary climate change and health care legislation and run up the tab on "the other guy's" tab and young Americans' futures; there isn't a lot of room for error. It's time for Democrats to think more about the national interest than trying to ram through a pent-up tax-spend-and regulate political agenda while they still have overwhelming numbers in the Congress and the White House. That would be risky business in a strong economy; in a weak economy, it's a death wish.
Maybe if Goldman Sachs wasn't able collect on some of their AIG derivative transactions courtesy of the American taxpayer (I'm sure they realized that AIG had mispriced their swaps and took full advantage of the situation), they wouldn't be in a position of awarding obscene, insensitive record bonuses at a time when official unemployment exceeds 10%. I have little doubt if and when these new rules are enacted, Goldman Sachs will find some way to exploit the new rules and regulations at the expense of taxpayers and for the benefit of their stakeholders.
Happy Thanksgiving!
I'm thankful for my parents whom gave me the gift of life and six younger siblings, raised me with faith, morals, and traditional American values (e.g., the importance of family, the example of a strong, respectful, loving, durable marital relationship, and self-reliance, hard work and persistence). I'm grateful for the uncomplaining professional men and women whom sometimes sacrifice their lives or health protecting Americans at home and in the streets, from criminals and foreign adversaries intending to do us harm. I appreciate the mentors I've had in life, nonjudgmental, positive, helpful and unfailingly patient with me, people like Sister Mary Christine Morkovsky and my dissertation chair, Richard Scamell. (Now don't blame them for my shortcomings; I myself am responsible for those!) I'm grateful for true friends whom have stood by me in difficult times, people like my Navy buddy Joe, professor Jane, my doctoral officemate Bruce, and former work colleagues Ray and Rahul. I value legitimate, principled, courageous, inspirational national leaders like John McCain and Rudy Giuliani and gadflies like Congressman Ron Paul. But most of all, I'm thankful to Almighty God, from Whom all things are possible, and the Gift of Christ Jesus.
Political Cartoon
Cartoonist Gary Varvel reminds us of the good old days (before the progressive legislators and bureaucrats tried to regulate health insurance (for our own good, of course), what we can do or say (political correctness), and how much allowance they'll let us keep from our paychecks). We should be thankful for all the attention the progressives are paying to us; it must be so exhausting trying to run everyone else's lives; you have to wonder when they can find time to mind their own business.
Musical Interlude: My Favorite Orleans Song
Best known for their hit song "Still the One", Orleans had a follow-up song which reminds us all of the distinction between lust and love. Real men act from integrity and are respectful and patient in their relationships; be worthy of the woman you love.
For anyone interested in this blog feature (on my tastes in popular music), I will be presenting some of my favorite Christmas (not just "holiday") songs over the next few weeks, starting with my favorite over the past decade featuring the great vocals of beautiful Mrs. Tim McGraw.
LOVE TAKES TIME
Orleans
I saw a twinkle in her eye
It lit a fire deep inside
But it burned so wild and strong
I knew it wouldn't last for long
'Cause love takes time
And it's hard to find
You gotta take some time
To let love grow
I saw a shooting star go by
It blazed a path across the sky
But the beauty did not last, no
some things just happen all to fast
But love takes time
And it's hard to find
You gotta take some time
To let love grow, whoa
Well some think love's a game
You play for a night or two
But I think that's a shame
'Cause I know that in the end
They're bound to lose
Love takes time
Yes it's hard to find
You gotta take some time
To let love grow
Oh love takes time
I said that it's hard to find
Oh, just take your time
And love will grow
If we really want our love to grow
We gotta take it slow, whoa
Love takes time
Yes it's hard to find
Baby love takes time
Yours and mine, whoa
