The Donkey or “Jackass” is the Perfect Icon for the Democrats

Posted by Ray on October 8, 2009 under Main | Be the First to Comment

I am an honest to God political neutral as I voted for Bush in 2000 and Kerry in 2004 which makes me probably one of the worst voters in the history of the world, but I voted my conscience and for what I believed was right. As it turned out, they are all crooks and the one thing I learned is we need balance in government, no matter who occupies the Whitehouse. When that balance is out of whack, like we saw when the Republicans had absolute rule and like we see now with Democrats with absolute rule things get ugly, real fast.

Most of all, corruption runs amuck and there is no accountability to anyone. Just look at Senator Dodd, he was guilty as sin and my 5 year old could tell he knew he was getting favors on his mortgages from Countrywide, but not the ethics committee who let him off Scott Free. Now we see the same thing with Representative Rangel who is clearly guilty as sin as well, yet he is still the chairman of the Ways and Means Committee, possibly the most powerful committee in all of Washington and the committee that writes tax laws.

Just so you are keeping score at home, we have Timmy Geithner who is Treasury Secretary who “forgot” to pay his taxes, Sen. Dodd who gets sweetheart mortgage deals, campaign contributions from AIG (then let’s them keep their bonuses which he included in the stimulus bill), takes money from Fannie and Freddie while leaving them largely unregulated and so on only to collapse later on. Now we have Rep. Rangel who has spent eons in Congress only to make a small fortune for himself including property in Dominican Republic and some fancy apartment dealings in NYC.

Either these people are the dumbest people in the world, which should scare you because they are leading our country, or they are simply lying to you (more than likely the case) which means they should resign for the good of the public, which would never happen. Either way, how could these people get reelected? What is wrong with people? If this “happened” to you or I and we used the same lame excuse as I forgot or whatever we would be bed mates with Bubba in a heat beat, but not these guys. Nope, there is definitely a two tiered system in place because not only are these guys not in prison, but they still have jobs.

Not only that, but when a vote comes to the floor to remove Rep. Rangel as Chairman of the Ways and Means Committee while the investigation is completed the Jackasses, I mean, the Democrats knock defeat the vote. So much for transparency in politics and fighting for the American people and all that other BS Obama fed us during the campaign. We sure as hell know that Pelosi doesn’t care about us, she is trying to impose a VAT, value added tax, to pay for health care, yeah, ever been to Europe? VAT’s are horrible regressive taxes that stifle growth and punish everyone, especially the poor, equally. You don’t even need to go to Europe to see it in action, just go to Canada.

Anyhow, this is just unbelievable to think that these crooks are able to stay in their jobs as if nothing is wrong when they are under investigation. It’s like someone being accused of murder being released by a judge and allowed to have his gun back because it is the only fair thing to do as the investigation is not complete yet, even though the ballistics test already matched. We know their all guilty, but if you are part of the political class, no problem. Enough is enough already, vote them out and for the love of God let’s get some balance back into government (any party will do!).

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They Didn’t Pass It!

Posted by Ray on September 29, 2008 under Main | Read the First Comment

I thought this was a done deal, it just need a ceremonial vote and it was in. However, it did not go as planned…thanks to the Democrats, in part. The whole thing is just plain dumb, but Pelosi and Reid just keep opening their mouths and mess things up. We do not like this package, it is bad for us and the country as a whole, but at this point it is time that we pass it.

Clearly, given the markets reaction to the idiocy in Washington it has to go through. With the market declining, probably a 1,000 points tomorrow as well, it opens a new can of worms. Minimum capital requirements by brokerage firms. Given that most brokerages are now banks this allows them to borrow at the Fed Discount rate, 1% currently, which is a good thing in today’s market. However, brokerages must have minimum levels of capitalization in order to be in compliance.

Guess what? What was used as collateral where mortgage backed securities. Now you have a credit crisis with no readily available credit to firms that will need to increase their requirements given market volatility. Without this capitalization firms can be in trouble, this may not be a huge problem, but it is now out there. It is a sure bet that the market is going to have a very, very bad day tomorrow. This thing is far from over.

We briefly reviewed the bill today and it was not very good, in our opinion. The compensation restrictions had loopholes that you could drive a truck through. The payout of the bailout was a joke and will do little but boost market confidence at first. There is still no real protection for home owners, a little, but not much and there is no emergency bankruptcy protection for the US citizens. Given the fact that financial services firms just screwed us all wouldn’t you think that they would throw a bone to the US citizen in big financial trouble?

Emergency bankruptcy protection would allow you to go bankrupt without the means test and would allow the bankruptcy to be removed after 3 or 5 years. Giving a bailout to the crooks on Wall St. should allow our government to do something for us. Don’t get us wrong, very few people need to go bankrupt, but given the current situation bankruptcies will be on the rise so protection is needed from the government, like they actually care, but it needed to be said.

Another option is to give this money to us, the citizens, to save, spend on our mortgage or invest. This would boost the economy, create value in the martgage backed securities and we could probably leave some of the bad apples on Wall St. to rot for awhile. There will, even if this thing is passed, be major bank failures in the future, but not passing this thing was a real blow. We expect some significant failures to occur in the next 48 to 72 hours.

Of course, Congress is off for a couple of days…man they work hard…which will cause the markets to take heavy blows over the next 2 days. We are expecting that the best case scenario is a 1,000 loss over the next couple of days and a worst case scenario of a 3,000 point loss. This is speculation, but it is probably a reality. Regardless it will be a bumpy ride to say the least.

So, THANK YOU Pelosi, Reid and Frank for opening your big fat mouths. This is not a republican problem, this is not a democrat problem it is an AMERICAN problem so do what we do best….FIX IT and shut the hell up.

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