Even if you aren't a sports fan this is very interesting!
36 have been accused of spousal abuse
7 have been arrested for fraud
19 have been accused of writing bad checks
117 have directly or indirectly bankrupted at least 2 businesses
3 have done time for assault
71 cannot get a credit card due to bad credit
14 have been arrested on drug-related charges
8 have been arrested for shoplifting
21 currently are defendants in lawsuits,
84 have been arrested for drunk driving in the last year
Can you guess which organization this is?
NBA or NFL?
Give up yet?
Scroll down...
Neither,
it's the 535 members of the
United States Congress!
380 laws broke for 535 members = 70%
The same group of idiots that crank out
hundreds of new laws each year
designed to keep the rest of us in line.
Monday, September 7, 2009
Thursday, August 13, 2009
Sunday, August 2, 2009
Letter to Larry Kudlow
Larry, I am the guy you have been looking for to tell you, you are right! Since the collapse in September, when I lost most of my portfolio during September '08, I have not only gained back my losses, but doubling my pre-September balance. I have been promoted at work, as has my wife. Another promotion and raise look to be on their way.
As with any financial crisis, most people stop talking about the key component, revenue. I can't remember the last time I heard anyone talk about plain old revenue. The reason the banks are going to make huge profits soon, is because with their massive revenue streams, you can absorb an incredible amount of loss. Now when it turns, every dollar you don't lose is pure profit. This trend can turn quickly and the loss to profit swing can be immediate.
I am betting on old fashion believers in a free market, but get nervous whenever someone from the current administration says anything. The quickest way to economic prosperity would be to cut the government in half. Let me keep my raise and invest it, make myself money, and create opportunity for the innovative....
Jimmy
As with any financial crisis, most people stop talking about the key component, revenue. I can't remember the last time I heard anyone talk about plain old revenue. The reason the banks are going to make huge profits soon, is because with their massive revenue streams, you can absorb an incredible amount of loss. Now when it turns, every dollar you don't lose is pure profit. This trend can turn quickly and the loss to profit swing can be immediate.
I am betting on old fashion believers in a free market, but get nervous whenever someone from the current administration says anything. The quickest way to economic prosperity would be to cut the government in half. Let me keep my raise and invest it, make myself money, and create opportunity for the innovative....
Jimmy
Thursday, July 30, 2009
Realty Check
Over the past few weeks, it seems as though the American people have started to rethink Team Obama. The excitement at the beginning of the year, with the talk of change and progress, has been subsiding and being replaced with skepticism. Just as we found out with the kid who promised more recess and a pool, while running for Student Council, we are finding Obama to be mostly promises with little substance.
The economy is showing signs of recovery and slow growth, even though only about ten percent of the $787 billion stimulus has actually been spent. The money that has been spent, really had nothing to do with job creation and more to do with "pet projects" that otherwise would not have been funded.
health care reform looks to be more of a test of political power than anything to do with the protection of the uninsured. The administration is looking to spend over one trillion dollars, we don't have, to create a bureaucratic nightmare. If you really wanted to lower the cost of health care you would look at limiting lawsuits being filed against doctors. The real reason doctor's order "unnecessary tests" is to cover their asses, not profit generation. This would be tough for the Democrats, however, as it would anger their attorney base.
Talk to any small business owner, who is already dealing with a recession, tougher credit, and increased taxes about the health care reform and they will tell you it is going to shrink their payroll. It doesn't matter how low the cost, it is still an added expense many can't afford.
Lastly, it appears we are all taken aback by the obvious attack on capitalism. The American dream to work hard and be prosperous, is being threatened. The administration is looking to limit profits on financial companies, oil companies, Health Care providers, pharmaceutical companies and the list goes on. Now if you limit how much I can make, then you limit the taxes I pay, thus limiting your own income, which actually needs to increase by the trillions to pay off all the spending. No wonder we are getting skid dish and approval ratings are nose diving. These are our thoughts we look forward to yours...
The economy is showing signs of recovery and slow growth, even though only about ten percent of the $787 billion stimulus has actually been spent. The money that has been spent, really had nothing to do with job creation and more to do with "pet projects" that otherwise would not have been funded.
health care reform looks to be more of a test of political power than anything to do with the protection of the uninsured. The administration is looking to spend over one trillion dollars, we don't have, to create a bureaucratic nightmare. If you really wanted to lower the cost of health care you would look at limiting lawsuits being filed against doctors. The real reason doctor's order "unnecessary tests" is to cover their asses, not profit generation. This would be tough for the Democrats, however, as it would anger their attorney base.
Talk to any small business owner, who is already dealing with a recession, tougher credit, and increased taxes about the health care reform and they will tell you it is going to shrink their payroll. It doesn't matter how low the cost, it is still an added expense many can't afford.
Lastly, it appears we are all taken aback by the obvious attack on capitalism. The American dream to work hard and be prosperous, is being threatened. The administration is looking to limit profits on financial companies, oil companies, Health Care providers, pharmaceutical companies and the list goes on. Now if you limit how much I can make, then you limit the taxes I pay, thus limiting your own income, which actually needs to increase by the trillions to pay off all the spending. No wonder we are getting skid dish and approval ratings are nose diving. These are our thoughts we look forward to yours...
Friday, July 10, 2009
Country of entitlement
I remember, as a young man, listening to my grandfather telling stories about the days after the War when he and his friends banded together, worked hard and created a successful business. Anyone who has read Tom Brokaw's book, The Greatest Generation, has read many similar stories. My Grandfather and his generation grew up in a country where everyone had the right to try to make a better life for themselves through hard work, ingenuity, and determination. Now we are living in a world of entitlement.
We can see this everywhere, just look at the discussions revolving around health care and employment. Over and over I hear that we need to take care of those who are without and those of us who have need to pay for it. We are penalized for living the "American Dream." Those of us who have made decisions to sacrifice, to work hard, to get an education, to persevere through tough times and live within our means are now being required to take care of those that didn't.
Being born in our country now has the perception of entitlement, you were born here so a better life is yours just for waking up. Does that sound like a society you want to live in? Are we really at the point where we want to scrap the will to be better and where personal accountability doesn't have a role. Where all you have to do is wake up and you will be provided for? If we allow this to happen, then we all owe our grandfathers who fought so bravely and worked so hard a big " I am sorry that we have let you down." We at Answer the White House Phone are not ready to concede and hope you will join us in speaking up and making sure the efforts of the greatest generation do not go for nought. These are our opinions and we look forward to yours.
We can see this everywhere, just look at the discussions revolving around health care and employment. Over and over I hear that we need to take care of those who are without and those of us who have need to pay for it. We are penalized for living the "American Dream." Those of us who have made decisions to sacrifice, to work hard, to get an education, to persevere through tough times and live within our means are now being required to take care of those that didn't.
Being born in our country now has the perception of entitlement, you were born here so a better life is yours just for waking up. Does that sound like a society you want to live in? Are we really at the point where we want to scrap the will to be better and where personal accountability doesn't have a role. Where all you have to do is wake up and you will be provided for? If we allow this to happen, then we all owe our grandfathers who fought so bravely and worked so hard a big " I am sorry that we have let you down." We at Answer the White House Phone are not ready to concede and hope you will join us in speaking up and making sure the efforts of the greatest generation do not go for nought. These are our opinions and we look forward to yours.
Sunday, July 5, 2009
Sex Scandals and the Constitution
I hope everyone had a happy and healthy Fourth of July celebrations. Among the parades, barbecues and fireworks, we all celebrated the freedom we enjoy on the birthday of our nation.
Over the past week I have had many conversations with friends, family and colleagues about the state of our great country. One thing that is very apparent is that we seem to have moved from a country lead by independent minded go getters to a country lead by enablers. We look to judge our leaders more on their personal lives than on the merits of their work. This is very evident in the latest round of scandals within the Republican Party.
Looking back at our first leaders, each of them had relations with women outside of wed lock, they each had their vices of tobacco, marijuana and alcohol, each of these behaviors would preclude them from consideration for public office today.
Look at our first President, who was pro hemp, pro tobacco, pro alcohol, and pro personal accountability. He was teamed up with Thomas Jefferson, Andrew Hamilton, Mr. Let's help everyone as long as you don't touch what is mine, and Benjamin Franklin, one of the great womanizers of all time. Without these men our country would not be what it is today. We may not even be independent of the British Monarchy.
Fortunately for us, back two hundred years ago, we as a society were more interested in what a person could accomplish than we were what they were doing behind closed doors. As we move forward we have to refocus ourselves on accomplishment rather than gossip and sensationalism, or else it will be soon safe to say that anyone that attends college will no longer be able to run for office. These are our thoughts and we look forward to hearing yours...
Over the past week I have had many conversations with friends, family and colleagues about the state of our great country. One thing that is very apparent is that we seem to have moved from a country lead by independent minded go getters to a country lead by enablers. We look to judge our leaders more on their personal lives than on the merits of their work. This is very evident in the latest round of scandals within the Republican Party.
Looking back at our first leaders, each of them had relations with women outside of wed lock, they each had their vices of tobacco, marijuana and alcohol, each of these behaviors would preclude them from consideration for public office today.
Look at our first President, who was pro hemp, pro tobacco, pro alcohol, and pro personal accountability. He was teamed up with Thomas Jefferson, Andrew Hamilton, Mr. Let's help everyone as long as you don't touch what is mine, and Benjamin Franklin, one of the great womanizers of all time. Without these men our country would not be what it is today. We may not even be independent of the British Monarchy.
Fortunately for us, back two hundred years ago, we as a society were more interested in what a person could accomplish than we were what they were doing behind closed doors. As we move forward we have to refocus ourselves on accomplishment rather than gossip and sensationalism, or else it will be soon safe to say that anyone that attends college will no longer be able to run for office. These are our thoughts and we look forward to hearing yours...
Thursday, July 2, 2009
Stimulus 101
It is the month of August, on the shores of the Black Sea . It is raining, and the little town looks totally deserted. It is tough times, everybody is in debt, and everybody lives on credit.
Suddenly, a rich tourist comes to town.
He enters the only hotel, lays a 100 Euro note on the reception counter, and goes to
inspect the rooms upstairs in order to choose one.
The hotel proprietor takes the 100 Euro note and runs to pay his debt to the butcher.
The butcher takes the 100 Euro note, and runs to pay his debt to the pig grower.
The pig grower takes the 100 Euro note, and runs to pay his debt to the supplier of his
feed and fuel.
The supplier of feed and fuel takes the 100 Euro note and runs to pay his debt to the
town's prostitute that in these hard times, gave her "services" on credit.
The hooker runs to the hotel, and pays off her debt with the 100 Euro note to the hotel proprietor to pay for the rooms that she rented when she brought her clients there.
The hotel proprietor then lays the 100 Euro note back on the counter so that the
rich tourist will not suspect anything.
At that moment, the tourist comes down after inspecting the rooms, and takes his
100 Euro note, after saying that he did not like any of the rooms, and leaves town.
No one earned anything. However, the whole town is now without debt,
and looks to the future with a lot of optimism.
And that, ladies and gentlemen, is how the United States Government under President
Obama and the State of California under Governor Arnold are doing business today!
When I got this in my email I had to laugh, as it is so true. We look forward to your opinion...
Suddenly, a rich tourist comes to town.
He enters the only hotel, lays a 100 Euro note on the reception counter, and goes to
inspect the rooms upstairs in order to choose one.
The hotel proprietor takes the 100 Euro note and runs to pay his debt to the butcher.
The butcher takes the 100 Euro note, and runs to pay his debt to the pig grower.
The pig grower takes the 100 Euro note, and runs to pay his debt to the supplier of his
feed and fuel.
The supplier of feed and fuel takes the 100 Euro note and runs to pay his debt to the
town's prostitute that in these hard times, gave her "services" on credit.
The hooker runs to the hotel, and pays off her debt with the 100 Euro note to the hotel proprietor to pay for the rooms that she rented when she brought her clients there.
The hotel proprietor then lays the 100 Euro note back on the counter so that the
rich tourist will not suspect anything.
At that moment, the tourist comes down after inspecting the rooms, and takes his
100 Euro note, after saying that he did not like any of the rooms, and leaves town.
No one earned anything. However, the whole town is now without debt,
and looks to the future with a lot of optimism.
And that, ladies and gentlemen, is how the United States Government under President
Obama and the State of California under Governor Arnold are doing business today!
When I got this in my email I had to laugh, as it is so true. We look forward to your opinion...
Saturday, June 27, 2009
New Energy Bill Passes the House
The passing of the new energy bill through the House, again demonstrates the hypocrisy of our current leaders. New regulations are to cut carbon emissions seventeen percent by 2020. Looking at the travel of our President and the forms of transportation of our congress members, you really have to laugh.
If you are keeping track at home you will remember our President burned over 9000 gallons of carbon fuel on Earth Day, used Air Force One, the Presidential Helicopter and a motorcade to take Michelle on date night. These are only two examples, but looking at the cost and the carbon emissions, do you really think he believes what he is selling?
If you have a chance, a little time on your hands, take a look at the modes of transportation your representatives are using. We are sure that you will be surprised when you learn how many are driving SUVs, flying back and forth, here and there. You will also be surprised at how few actual drive a hybrid, or smart car.
As we look forward to creating a better environment and leaving a nicer, cleaner place for our children, we believe the best way is still one person at a time. Recycle when you can, car pool when able and limit unnecessary travel, unless it is by foot, bike or smart car. These are a few of our thoughts and we look forward to yours....
If you are keeping track at home you will remember our President burned over 9000 gallons of carbon fuel on Earth Day, used Air Force One, the Presidential Helicopter and a motorcade to take Michelle on date night. These are only two examples, but looking at the cost and the carbon emissions, do you really think he believes what he is selling?
If you have a chance, a little time on your hands, take a look at the modes of transportation your representatives are using. We are sure that you will be surprised when you learn how many are driving SUVs, flying back and forth, here and there. You will also be surprised at how few actual drive a hybrid, or smart car.
As we look forward to creating a better environment and leaving a nicer, cleaner place for our children, we believe the best way is still one person at a time. Recycle when you can, car pool when able and limit unnecessary travel, unless it is by foot, bike or smart car. These are a few of our thoughts and we look forward to yours....
Thursday, June 18, 2009
Regulation, Regulation, Regulation
If anyone was in denial about the real agenda of the Obama administration, yesterday should have been a wake up call. The proposed increased regulation on the Financial Industry, if passed as is, would have tremendous negative effects on our economy. The proposal is being sold as a way to make our system safer, less risky. This in theory will prevent another sub prime meltdown.
The issue here is that with the reduction in risk, the cost of financial products will increase. The opportunities for consumers to secure low cost financing will no longer be available. Consumers will also be forced to live a less leveraged life, which will reduce spending of future dollars and force people to pay with their own cash. Standard of living will decrease.
What will have an even greater impact on our economy will be the hindering of the entrepreneurial spirit. Without leverage how will people take a chance on themselves? If the cost of funds goes higher, less and less people will be able to chase their dream of innovation and being their own boss.
The good news is that there will most likely be years of negotiating and by then maybe a little reason will enter into the conversation and we can get on with the American way of life....
The issue here is that with the reduction in risk, the cost of financial products will increase. The opportunities for consumers to secure low cost financing will no longer be available. Consumers will also be forced to live a less leveraged life, which will reduce spending of future dollars and force people to pay with their own cash. Standard of living will decrease.
What will have an even greater impact on our economy will be the hindering of the entrepreneurial spirit. Without leverage how will people take a chance on themselves? If the cost of funds goes higher, less and less people will be able to chase their dream of innovation and being their own boss.
The good news is that there will most likely be years of negotiating and by then maybe a little reason will enter into the conversation and we can get on with the American way of life....
Monday, June 15, 2009
Friday, June 12, 2009
Jeremiah Wright
The most unnerving aspect of the whole Jeremiah Wright issue is not his ties to President Obama, but rather that people actually worship him. Right here in the United States of America, we have growing amongst us a movement so ignorant that they may make the Black Panthers, the Skin Heads" and even the racist of all, the KKK.
This man spews so much hatred for our country, our society, our way of life, that it should make anyone listening, sick to their stomach. Unfortunately, quite the opposite is happening. People are cheering him, encouraging him and allowing him one on one access to the President. Anyone nervous yet?
This man spews so much hatred for our country, our society, our way of life, that it should make anyone listening, sick to their stomach. Unfortunately, quite the opposite is happening. People are cheering him, encouraging him and allowing him one on one access to the President. Anyone nervous yet?
Saturday, May 30, 2009
North Korea, GM and Nancy Pelosi
Nancy Pelosi has to be the luckiest politician in America. Through the end of last week, it finally looked like she was going to have to come up with some evidence that the CIA actually lied to her during an Oversight Committee briefing.
Then along came North Korea launching short range nuclear missiles, which seemed to catch everyone by surprise. Then they launched a couple more and then to everyone's great surprise they launched number five and six. This got all of us wondering if we are indeed as protected as we think we are, especially on the heels of learning we cut the budget on our missile defense this year. Maybe the high speed train for Mr Reid will help save us.
Then final word came down that GM was indeed headed to bankruptcy and the anger started to manifest, did the UAW get a sweet heart deal? Well of course they did, same as AIG. Line the coffers of the next President and these are the rewards. By this time Nancy's "That's all I am going to say," had all but been forgotten. The US taxpayer is now putting a "total" of $50 billion into GM knowing full well we will never see it paid back. Unlike the financial institutions who have hundreds of billions in revenue, GM just can't and won't make that kind of money. Obeys and his team are betting on green cars the likes of which, even Toyota has not been able to make a profit on.
So here we are today with Nancy Polos, third in line to the President still with no accountability and the purse strings to all our tax dollars. But this is why we love America.
Then along came North Korea launching short range nuclear missiles, which seemed to catch everyone by surprise. Then they launched a couple more and then to everyone's great surprise they launched number five and six. This got all of us wondering if we are indeed as protected as we think we are, especially on the heels of learning we cut the budget on our missile defense this year. Maybe the high speed train for Mr Reid will help save us.
Then final word came down that GM was indeed headed to bankruptcy and the anger started to manifest, did the UAW get a sweet heart deal? Well of course they did, same as AIG. Line the coffers of the next President and these are the rewards. By this time Nancy's "That's all I am going to say," had all but been forgotten. The US taxpayer is now putting a "total" of $50 billion into GM knowing full well we will never see it paid back. Unlike the financial institutions who have hundreds of billions in revenue, GM just can't and won't make that kind of money. Obeys and his team are betting on green cars the likes of which, even Toyota has not been able to make a profit on.
So here we are today with Nancy Polos, third in line to the President still with no accountability and the purse strings to all our tax dollars. But this is why we love America.
Saturday, May 23, 2009
Fixing the economy
We think the premise is simple, but could save American Tax payers over three trillion dollars.
Read this letter and decide for yourself...
Dear Mr. President:
Please find below my suggestion for fixing America 's economy.
Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan.
You can call it the Patriotic Retirement Plan:
There are about 40 million people over 50 in the work force.
Pay them $1 million apiece severance for early retirement with the following stipulations:
1) They MUST retire. Forty million job openings - Unemployment fixed.
2) They MUST buy a new American CAR. Forty million cars ordered - Auto Industry fixed.
3) They MUST either buy a house or pay off their mortgage - Housing Crisis fixed..
It can't get any easier than that!
If more money is needed, have all members of Congress and their constituents pay their taxes...
If you think this would work, please forward this blog to everyone you know.
Read this letter and decide for yourself...
Dear Mr. President:
Please find below my suggestion for fixing America 's economy.
Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan.
You can call it the Patriotic Retirement Plan:
There are about 40 million people over 50 in the work force.
Pay them $1 million apiece severance for early retirement with the following stipulations:
1) They MUST retire. Forty million job openings - Unemployment fixed.
2) They MUST buy a new American CAR. Forty million cars ordered - Auto Industry fixed.
3) They MUST either buy a house or pay off their mortgage - Housing Crisis fixed..
It can't get any easier than that!
If more money is needed, have all members of Congress and their constituents pay their taxes...
If you think this would work, please forward this blog to everyone you know.
Thursday, May 21, 2009
Is Meghan McCain the future of The GOP?
On the surface there are many out there that would wonder, "what kind of question is that?" The leadership of the Republican party is held in the hands of Mit Romney, Jeb Bush, Newt Gingrich, Rush Limbaugh, just to name a few. New Senators are coming on the scene and teaming up with these "oldie but goodies."
If, however you look at who is speaking to our nations future leaders, the younger generation of recent college graduates and young professionals, you would be missing the boat if you did not include the young McCain. She understands today's means of communicating through modern media such as twitter, the Colbert Report, Face Book, etc. Whether or not you agree with her message is beside the point, as the real point is that she is a 23 year old young Republican who is intelligent, articulate, pro women, pro sex and pro youthful change in the Party.
She has admitted herself that her biggest challenge is she is too forward thinking and outspoken for her connections through her father and his supporters, while being fundamentally opposed to the ideals of the Democratic Party. So where does this leave her in today's political landscape? We would argue right in front, leading the effort to connect with tomorrow's leaders and attracting them to a "New Party" that understands change and what we are looking for in our country. These are few of our thoughts and as always we welcome yours...
If, however you look at who is speaking to our nations future leaders, the younger generation of recent college graduates and young professionals, you would be missing the boat if you did not include the young McCain. She understands today's means of communicating through modern media such as twitter, the Colbert Report, Face Book, etc. Whether or not you agree with her message is beside the point, as the real point is that she is a 23 year old young Republican who is intelligent, articulate, pro women, pro sex and pro youthful change in the Party.
She has admitted herself that her biggest challenge is she is too forward thinking and outspoken for her connections through her father and his supporters, while being fundamentally opposed to the ideals of the Democratic Party. So where does this leave her in today's political landscape? We would argue right in front, leading the effort to connect with tomorrow's leaders and attracting them to a "New Party" that understands change and what we are looking for in our country. These are few of our thoughts and as always we welcome yours...
Wednesday, May 20, 2009
Credit Anyone?
Watching Chris Dodd and his colleagues questioning Tim Geithner, brings to light why nobody has confidence in our economy. After Mr. Geithner defended the position taken in the AIG case, he was then asked why Banks haven't extended more credit to main street. It seems as though they want everything and expect people to just go along with it.
The question with AIG was, " If we the government, own some 80% of AIG, why don't we control everything that goes on there? Why aren't we forcing those who hold the liabilities of AIG to take 50 cents on the dollar. This naturally would lead intelligent people to assume that the government expects to hold control companies in proportion to money gained from the government. If you were a financial institution would this make government money attractive to use to lend to customers?
Now look at the Banks that took TARP money. Each Bank got the money with no strings, then with the new administration came all sorts of strings. The use of government money comes with negative stigmas, as it now shows weakness, not strength. In addition, the money comes at a rate of 6% to 8% and Banks are expected by main street to lend it at less than that because of the "Bail Out" money received.
Finally look at the new laws being past yesterday, that makes it unprofitable to lend to risky customers, who will receive less if any credit. This leaves the best customers, as it pertains to credit, to make a profit. The Banks thus have to charge fees and remove "grace periods." This may lead to less credit being used by both categories, thus less spending and less growth.
Now when you look at this group of folks in government, does this sound like a group you would partner with. If you were a financial institution would you look to use "their" money as they call it? Of course not. We would recommend calling your representative and ask them some hard nosed questions, as it is not "their" money, but our money. The quicker we get government our of business, the faster capitalism will start to work and lead to our recovery. These are our thoughts and we welcome yours....
The question with AIG was, " If we the government, own some 80% of AIG, why don't we control everything that goes on there? Why aren't we forcing those who hold the liabilities of AIG to take 50 cents on the dollar. This naturally would lead intelligent people to assume that the government expects to hold control companies in proportion to money gained from the government. If you were a financial institution would this make government money attractive to use to lend to customers?
Now look at the Banks that took TARP money. Each Bank got the money with no strings, then with the new administration came all sorts of strings. The use of government money comes with negative stigmas, as it now shows weakness, not strength. In addition, the money comes at a rate of 6% to 8% and Banks are expected by main street to lend it at less than that because of the "Bail Out" money received.
Finally look at the new laws being past yesterday, that makes it unprofitable to lend to risky customers, who will receive less if any credit. This leaves the best customers, as it pertains to credit, to make a profit. The Banks thus have to charge fees and remove "grace periods." This may lead to less credit being used by both categories, thus less spending and less growth.
Now when you look at this group of folks in government, does this sound like a group you would partner with. If you were a financial institution would you look to use "their" money as they call it? Of course not. We would recommend calling your representative and ask them some hard nosed questions, as it is not "their" money, but our money. The quicker we get government our of business, the faster capitalism will start to work and lead to our recovery. These are our thoughts and we welcome yours....
Saturday, May 16, 2009
Pelosi, GM, and Gitmo
What a week it has been for out President and his administration. For the first time on television, we got to see the Speaker of the House push aside the President at a news conference. Nancy Pelosi continues to assert herself in the new Democratically control congress and in Washington DC in general. It's not surprising that the CIA would have purposely mislead her about the waterboarding" at Gitmo. Considering she is the best representative California has to offer and the leader of the House, it is little wonder California is practically insolvent and our Congress is so out of control.
Speaking of Gitmo. It was good to see President Obama abandon his campaign promise and actually have trials for the detainees. Normally we would be chiding the President for again going back on his word, but considering this makes us safer we will applaud him.
We do find it amazing that Nancy Pelosi continues to deny knowing about water boarding and it's use as an interrogation technique. Apparently she has been away for awhile, as most people we have spoken to were pretty sure the technique was being used, as they saw it on television and read about it in the papers. It's not like you can keep a secret with our American media.
Lastly we just wanted to congratulate the administration for the fantastic job they have done with the auto industry. It's obvious why Ford is avoiding the government like the plague, everything they touch goes under; AIG, Fanny May, Freddie Mac, Chrysler and GM to name just a few. The Banks would have to is it were not for the strong leadership at the helm of Goldman, Morgan Stanley, JP Morgan and Wells Fargo.
Government Health Care anyone?
Speaking of Gitmo. It was good to see President Obama abandon his campaign promise and actually have trials for the detainees. Normally we would be chiding the President for again going back on his word, but considering this makes us safer we will applaud him.
We do find it amazing that Nancy Pelosi continues to deny knowing about water boarding and it's use as an interrogation technique. Apparently she has been away for awhile, as most people we have spoken to were pretty sure the technique was being used, as they saw it on television and read about it in the papers. It's not like you can keep a secret with our American media.
Lastly we just wanted to congratulate the administration for the fantastic job they have done with the auto industry. It's obvious why Ford is avoiding the government like the plague, everything they touch goes under; AIG, Fanny May, Freddie Mac, Chrysler and GM to name just a few. The Banks would have to is it were not for the strong leadership at the helm of Goldman, Morgan Stanley, JP Morgan and Wells Fargo.
Government Health Care anyone?
Sunday, May 10, 2009
Taxation Nation
I got to see Steve Forbes talk the other day and I was amazed to find out that there are over nine million words in our taxation code. Americans spent so much time on taxes last year, if you added up all the hours, it would equal three million jobs. I was amazed that the US Tax Code could actually be that complicated, so I decided to give it a read and it immediately became obvious to me that it is way to complicated.
Anyone who has ever read even the first section would have to agree. Right from the start there is a series of if this, then that. If this then that. Combine this with that and subtract this plus that and you get this, unless the that was a qualified that then your this is a this minus that and then you are ready for section two.
Instead of looking to simplify the code our administration is looking to add to it, to gain more revenue. We are becoming more and more a country of double taxation with the most obvious being the "death tax." Here is a tax that says, "if for some reason you don,t spend all your money while you are alive, we will take a large chunk of what is left. Which is designed to stop the Rich from giving their children and grandchildren a better life than possibly their neighbors. Instead our administration wants to take the money you earned, paid taxes on and saved and instead of giving it to your family, put it into their hands so they can make sure many generations families can continue to suck from the teet of welfare. Why make families earn their own way when they can live off the labor of others.
The answer to the tax question is simple...a flat tax across the board of 15 or 17 percent. If you make $1000 you would pay $150 in taxes, if you make $1,000,000 you would pay $150,000. Those that make more can keep more and invest it how they chose, maybe even leave it to their children. This would seem far superior to giving it to the government so they can expand welfare and spend $8,000,000,000 on a high speed train from LA to Las Vegas. These are just a few of our thoughts and we welcome yours...
Anyone who has ever read even the first section would have to agree. Right from the start there is a series of if this, then that. If this then that. Combine this with that and subtract this plus that and you get this, unless the that was a qualified that then your this is a this minus that and then you are ready for section two.
Instead of looking to simplify the code our administration is looking to add to it, to gain more revenue. We are becoming more and more a country of double taxation with the most obvious being the "death tax." Here is a tax that says, "if for some reason you don,t spend all your money while you are alive, we will take a large chunk of what is left. Which is designed to stop the Rich from giving their children and grandchildren a better life than possibly their neighbors. Instead our administration wants to take the money you earned, paid taxes on and saved and instead of giving it to your family, put it into their hands so they can make sure many generations families can continue to suck from the teet of welfare. Why make families earn their own way when they can live off the labor of others.
The answer to the tax question is simple...a flat tax across the board of 15 or 17 percent. If you make $1000 you would pay $150 in taxes, if you make $1,000,000 you would pay $150,000. Those that make more can keep more and invest it how they chose, maybe even leave it to their children. This would seem far superior to giving it to the government so they can expand welfare and spend $8,000,000,000 on a high speed train from LA to Las Vegas. These are just a few of our thoughts and we welcome yours...
Wednesday, May 6, 2009
Oversight - Tag You're It!
I don't know if anyone has caught this yet, but I for one have no idea how this type of activity goes so under reported.
The brianiacs in Washington have a new way to provide oversight to the Billions of Our Dollars being shoveled out the door.
It should be left up to the individual people. US!
I suppose they get at least one side of the formula. It is our money, so why not have us be responsible and keep an eye out for fraud, waste and abuse. Gee, and I thought we had elected officials to protect our interest and hard earned dollars.
To cut to the quick - Congratulations Deputy!
Now go out there and get em...
Check out the full article:
http://washingtontimes.com/news/2009/may/06/stimulus-oversight-left-up-to-taxpayers/
The brianiacs in Washington have a new way to provide oversight to the Billions of Our Dollars being shoveled out the door.
It should be left up to the individual people. US!
I suppose they get at least one side of the formula. It is our money, so why not have us be responsible and keep an eye out for fraud, waste and abuse. Gee, and I thought we had elected officials to protect our interest and hard earned dollars.
To cut to the quick - Congratulations Deputy!
Now go out there and get em...
Check out the full article:
http://washingtontimes.com/news/2009/may/06/stimulus-oversight-left-up-to-taxpayers/
Monday, May 4, 2009
Stress Test??
There was a statement made over the past couple of days, as the administration continues to delay announcing the results, the economy has started to show signs of recovery. Last week the unemployment rolls decreased for new claims for the first time. More and more economists are talking about the economy showing some strengths, at the same time traders on Wall Street are using more and more positive language.
Popular opinion would say that the Banks should have gone down after the leak about Citi and Bank of America possibly needing to raise cash, but the gained on Friday. Over the weekend it was leaked that they both may need up to $10 billion in additional funds. Once again the stocks rallied on the news. When you take into account that unemployment is a lagging indicator and the rolls seem to be stabilizing, then it only makes sense that the Banks will be able to start putting away less in provisions. Every dollar that doesn't go to provisions, in turn is added directly to the bottom line. More money on the bottom line allows for greater capitol ratios and more money to lend. Provisions are paid forward, so when you. Think that the Banks will have six months to raise the funds, it would be possible for them to earn their way there through the little mentioned point for being in business, revenue.
When you look at the tardiness of the stress tests it is hard to make any argument that they will be at all relevant. Luckily for the networks the press release will make for good headlines and give the "experts" something to talk about.
Popular opinion would say that the Banks should have gone down after the leak about Citi and Bank of America possibly needing to raise cash, but the gained on Friday. Over the weekend it was leaked that they both may need up to $10 billion in additional funds. Once again the stocks rallied on the news. When you take into account that unemployment is a lagging indicator and the rolls seem to be stabilizing, then it only makes sense that the Banks will be able to start putting away less in provisions. Every dollar that doesn't go to provisions, in turn is added directly to the bottom line. More money on the bottom line allows for greater capitol ratios and more money to lend. Provisions are paid forward, so when you. Think that the Banks will have six months to raise the funds, it would be possible for them to earn their way there through the little mentioned point for being in business, revenue.
When you look at the tardiness of the stress tests it is hard to make any argument that they will be at all relevant. Luckily for the networks the press release will make for good headlines and give the "experts" something to talk about.
Friday, May 1, 2009
Is it the Republicans Fault?
We have received some feedback recently, which made us feel that people think we are a Republican Blog. We can see after looking back over the past couple of months, how that could be the perception. The reason we write more about the Democrats is because they are everywhere trying to change everything.
When was the last time the Republicans really did much of anything. We can see why, as a party they would want to lay low and hunker down for a while. Their last major undertaking resulted in what we are now experiencing. How much confidence could they have left? First they abandon the President and leave him out there on his own, only his immediate cabinet members working with him until the end. Then they manage to lose the Presidency to a first term Senator from Illinois. If politics had an equivalent to bankruptcy, the Republican party would be in at.
Look at the outrageous spending the new administration has put into place for the next four years. This may turn out to be the costliest political loss in the history of our country. The attempt at nationalization, the funneling of tax payer dollars to friends and allies. Look at the amount of money being given to AIG. None of this would be happening if the Republican party hadn't failed so miserably. You pick a candidate to defeat one candidate, Hillary Clinton, instead of going with the best person for the job and "oh shit," she implodes and the rest is history.
That is why we are hear, just a group of regular people who make a good living, pay way too much in taxes and who don't run for office. Let's face it, who wants to relive their college years on TV? These are some of our thoughts...we welcome yours....
When was the last time the Republicans really did much of anything. We can see why, as a party they would want to lay low and hunker down for a while. Their last major undertaking resulted in what we are now experiencing. How much confidence could they have left? First they abandon the President and leave him out there on his own, only his immediate cabinet members working with him until the end. Then they manage to lose the Presidency to a first term Senator from Illinois. If politics had an equivalent to bankruptcy, the Republican party would be in at.
Look at the outrageous spending the new administration has put into place for the next four years. This may turn out to be the costliest political loss in the history of our country. The attempt at nationalization, the funneling of tax payer dollars to friends and allies. Look at the amount of money being given to AIG. None of this would be happening if the Republican party hadn't failed so miserably. You pick a candidate to defeat one candidate, Hillary Clinton, instead of going with the best person for the job and "oh shit," she implodes and the rest is history.
That is why we are hear, just a group of regular people who make a good living, pay way too much in taxes and who don't run for office. Let's face it, who wants to relive their college years on TV? These are some of our thoughts...we welcome yours....
Sunday, April 26, 2009
The first 100 days
We are approaching the all important 100 day mark in the Obama administration. Many in the media will be trumpeting "accomplishments," but we thought it would be important to recap what has happened.
The President has imposed his will on the struggling auto industry, attaching specifications for energy efficiency, forcing them to make cars that are impossible to profit from. At the same time he globe trots around the world, ironically burning 9000 gallons of fuel on Earth Day.
5uring a ten day visit to Europe he unsuccessfully negotiated for more help in Afghanistan, but made he everyone knew that they were all still friends. He did manage a first, as he bowed to a foreign dignitary and then came back to the Western Hemisphere and treated Hugo Chavez as a long lost pal and allowed himself to be used as a propaganda tool.
He has had numerous appointees be disgraced by their inability to pay taxes accurately, but that was OK as they are not " Rich," thus their wealth doesn't need to be redistributed.
A budget was passed, after being scoured by VP Joe Biden for pork and earmarks, and still waste is abundant. Think about it, someone who uses 9000 gallons of fuel on Earth Day, probably isn't really able to assess waste.
Chris Dodd and President Obama have done a nice job of protecting AIG, which makes sense as they are the two biggest recipients of AIG political contributions.
The good news is with Nancy Pelosi, as she again has shown her inability to understand basis english as she states she was unaware of the torture techniques she was told point bland about. As one of the most outspoken member of Congress, it is hard to believe that if she thought these techniques were wrong, that she wouldn't be out there on the pulpit tearing down President Bush. Maybe she just needed President Obama what to think, now that's a scary thought.
The President has imposed his will on the struggling auto industry, attaching specifications for energy efficiency, forcing them to make cars that are impossible to profit from. At the same time he globe trots around the world, ironically burning 9000 gallons of fuel on Earth Day.
5uring a ten day visit to Europe he unsuccessfully negotiated for more help in Afghanistan, but made he everyone knew that they were all still friends. He did manage a first, as he bowed to a foreign dignitary and then came back to the Western Hemisphere and treated Hugo Chavez as a long lost pal and allowed himself to be used as a propaganda tool.
He has had numerous appointees be disgraced by their inability to pay taxes accurately, but that was OK as they are not " Rich," thus their wealth doesn't need to be redistributed.
A budget was passed, after being scoured by VP Joe Biden for pork and earmarks, and still waste is abundant. Think about it, someone who uses 9000 gallons of fuel on Earth Day, probably isn't really able to assess waste.
Chris Dodd and President Obama have done a nice job of protecting AIG, which makes sense as they are the two biggest recipients of AIG political contributions.
The good news is with Nancy Pelosi, as she again has shown her inability to understand basis english as she states she was unaware of the torture techniques she was told point bland about. As one of the most outspoken member of Congress, it is hard to believe that if she thought these techniques were wrong, that she wouldn't be out there on the pulpit tearing down President Bush. Maybe she just needed President Obama what to think, now that's a scary thought.
Sunday, April 19, 2009
why I voted Democrat???
We probably should give who we vote for a little thought before we go to the polls!!
Why I voted Democrat
I voted Democrat because I love the fact that I can now
marry whatever I want. I've decided to marry my horse.
I voted Democrat because I believe oil companies'
profits of 4% on a gallon of gas are obscene but the government taxing the
same gallon of gas at 15% isn't.
I voted Democrat because I believe the government will do a
better job of spending the money I earn than I would.
I voted Democrat because freedom of speech is fine as long
as nobody is offended by it.
I voted Democrat because when we pull out of Iraq I trust
that the bad guys will stop what they're doing because they now
think we're good people.
I voted Democrat because I'm way too irresponsible to
own a gun, and I know that my local police are all I need to protect me from
murderers and thieves.
I voted Democrat because I believe that people who
can't tell us if it will rain on Friday can tell us that the polar ice caps
will melt away in ten years if I don't start driving a Prius.
I voted Democrat because I'm not concerned about the
slaughter of millions of babies so long as we keep all death row inmates
alive.
I voted Democrat because I believe that business should not
be allowed to make profits for themselves. They need to break even and
give the rest away to the government for redistribution as IT sees fit.
I voted Democrat because I believe liberal judges need to
rewrite The Constitution every few days to suit some fringe kooks who
would never get their agendas past the voters.
I voted Democrat because I believe a person's freedom
to be lazy and cared for is more important than a person's freedom to
work and prosper.
I voted Democrat because I consider myself an intellectual
who understands that "..shall not be infringed." has
multiple interpretations which depend on the setting.
I voted Democrat because I believe digging is the best way
to get out of a hole like spending is the best way to get out of a
recession.
I voted Democrat because, well, I'm not completely
sure, but Obama is such a smooth talking, sexy guy. So inspiring.
I voted Democrat because the media says it's all
Bush's fault so it must be. Change! Change! We can do it!
I voted Democrat because the principles that made this
nation the greatest in history are flawed and must be
"fundamentally changed" for the greater good. Government is better than private. A
guarantee is better than ambition.
I voted Democrat because my head is so firmly planted up my
ass that it is unlikely that I'll ever have another point of view.
"A Liberal is a person who will give away everything
they don't own."
HUH!
Why I voted Democrat
I voted Democrat because I love the fact that I can now
marry whatever I want. I've decided to marry my horse.
I voted Democrat because I believe oil companies'
profits of 4% on a gallon of gas are obscene but the government taxing the
same gallon of gas at 15% isn't.
I voted Democrat because I believe the government will do a
better job of spending the money I earn than I would.
I voted Democrat because freedom of speech is fine as long
as nobody is offended by it.
I voted Democrat because when we pull out of Iraq I trust
that the bad guys will stop what they're doing because they now
think we're good people.
I voted Democrat because I'm way too irresponsible to
own a gun, and I know that my local police are all I need to protect me from
murderers and thieves.
I voted Democrat because I believe that people who
can't tell us if it will rain on Friday can tell us that the polar ice caps
will melt away in ten years if I don't start driving a Prius.
I voted Democrat because I'm not concerned about the
slaughter of millions of babies so long as we keep all death row inmates
alive.
I voted Democrat because I believe that business should not
be allowed to make profits for themselves. They need to break even and
give the rest away to the government for redistribution as IT sees fit.
I voted Democrat because I believe liberal judges need to
rewrite The Constitution every few days to suit some fringe kooks who
would never get their agendas past the voters.
I voted Democrat because I believe a person's freedom
to be lazy and cared for is more important than a person's freedom to
work and prosper.
I voted Democrat because I consider myself an intellectual
who understands that "..shall not be infringed." has
multiple interpretations which depend on the setting.
I voted Democrat because I believe digging is the best way
to get out of a hole like spending is the best way to get out of a
recession.
I voted Democrat because, well, I'm not completely
sure, but Obama is such a smooth talking, sexy guy. So inspiring.
I voted Democrat because the media says it's all
Bush's fault so it must be. Change! Change! We can do it!
I voted Democrat because the principles that made this
nation the greatest in history are flawed and must be
"fundamentally changed" for the greater good. Government is better than private. A
guarantee is better than ambition.
I voted Democrat because my head is so firmly planted up my
ass that it is unlikely that I'll ever have another point of view.
"A Liberal is a person who will give away everything
they don't own."
HUH!
Saturday, April 18, 2009
Right vs Priviledge
Over the past couple of months there has become a wider and wider division between those of us who believe in "The American Dream," and those who believe in entitlement.
As we listen to our President and the leaders of congress, it is apparent they believe you should benefit from all the America has to offer, whether you work for it or not. Our founding fathers fought extremely hard against the British to unburden themselves of unnecessary taxation and Religious restrictions.
Now in 2009 we are in a similar situation, as our administration looks to "redistribute wealth" in this country from those who have embraced the dream, taken risks, worked countless hours and have reached success, to everyone. This would be right in line with an attitude that has been brewing in our country for over a decade now.
Look at our youth sports programs, where there are no winners, only participants. If you practice hard and get better and better, we are not allowed to give you more recognition that the child that only shows up on game day and obviously is not good. Both of these children will end the season with a certificate saying they played and "successfully made it through the season." What message does this send. Would it make sense in school to remove grades, so that those who study hard and learn get the same grade as those who do nothing and just how up? Of course not.
As we move on with our administration, socialism is taking hold and we who believe in "success" need to make ourselves heard. Why should we not enjoy a better life, if we work hard, educate ourselves, take risks and have success. Why should my neighbor who stays home, is lazy, lives off the government have the same benefits as me. This does not sound like the America described in our Declaration of Independence. If this is the America out Fore Fathers wanted why would they have risked "life and limb" to separate from the British government? For everyone to have the same is a slap in the face of all those who came before us, just as our President bowing to a foreign king is a slap in the face of the office of President.
As we listen to our President and the leaders of congress, it is apparent they believe you should benefit from all the America has to offer, whether you work for it or not. Our founding fathers fought extremely hard against the British to unburden themselves of unnecessary taxation and Religious restrictions.
Now in 2009 we are in a similar situation, as our administration looks to "redistribute wealth" in this country from those who have embraced the dream, taken risks, worked countless hours and have reached success, to everyone. This would be right in line with an attitude that has been brewing in our country for over a decade now.
Look at our youth sports programs, where there are no winners, only participants. If you practice hard and get better and better, we are not allowed to give you more recognition that the child that only shows up on game day and obviously is not good. Both of these children will end the season with a certificate saying they played and "successfully made it through the season." What message does this send. Would it make sense in school to remove grades, so that those who study hard and learn get the same grade as those who do nothing and just how up? Of course not.
As we move on with our administration, socialism is taking hold and we who believe in "success" need to make ourselves heard. Why should we not enjoy a better life, if we work hard, educate ourselves, take risks and have success. Why should my neighbor who stays home, is lazy, lives off the government have the same benefits as me. This does not sound like the America described in our Declaration of Independence. If this is the America out Fore Fathers wanted why would they have risked "life and limb" to separate from the British government? For everyone to have the same is a slap in the face of all those who came before us, just as our President bowing to a foreign king is a slap in the face of the office of President.
Thursday, April 16, 2009
Tea Parties
Yesterday's Tea Parties around the country was very encouraging to see. To have so many people rise up on tax day and say to the administration, "not in America," gave confidence and a sense of belonging to all of us who believe there is no room for socialism in our country. To know that there is still a voice for all of us who do wake up each morning and go to work, making our own living, paying for our own food, health insurance, house, etc.
Lately, if you were to listen to Nancy Pelosi, you would believe success should be punished and the right thing to do is to punish us with more taxes, so those who don't work and live off the government should have a higher standard of living.
President Obama wants to take away the health insurance I receive, which is top notch, and replace it with a universal system that would provide my children less coverage and a greater chance of ill health.
To listen to out administration, "audacity of hope" really means, "let's all stop striving for success and love mediocrity." Or, we could do something that makes sense and rise up, be heard and make sure we don't allow the administration to sociali2 our great Country.
Lately, if you were to listen to Nancy Pelosi, you would believe success should be punished and the right thing to do is to punish us with more taxes, so those who don't work and live off the government should have a higher standard of living.
President Obama wants to take away the health insurance I receive, which is top notch, and replace it with a universal system that would provide my children less coverage and a greater chance of ill health.
To listen to out administration, "audacity of hope" really means, "let's all stop striving for success and love mediocrity." Or, we could do something that makes sense and rise up, be heard and make sure we don't allow the administration to sociali2 our great Country.
Tuesday, April 14, 2009
Taking back control??
It has been interesting over the past week as more and more people are saying thanks but no thanks to the Federal Government. The sentiment coming from Financial giants Goldman, JP Morgan, Bank of America all saying they will pay back the TARP money as soon as possible, has gone from as soon as we are able, to as soon as the government allows us without applying huge penalties. We have already seen some of the smaller banks pay their TARP money back. The CEOs of each company expressing similar views that the rules have changed, the Obama administration can't be trusted and that they will just fine on their own, thank you very much.
The latest and probably the group to carry the most weight, are the states that have recently said no to the money from the government. All of these people realize that we are all better off with the government influencing us the least amount possible. Hopefully the stands that are being made will continue and more and more of us can prevent the leaders in the administration, take us into a financial and social abyss.
The latest and probably the group to carry the most weight, are the states that have recently said no to the money from the government. All of these people realize that we are all better off with the government influencing us the least amount possible. Hopefully the stands that are being made will continue and more and more of us can prevent the leaders in the administration, take us into a financial and social abyss.
Saturday, April 4, 2009
The Salesman
President Obama is in his element when in the spotlight. His abilities as a speech deliverer, as he doesn't just give a speech, he really delivers them. Utilizing his flexible idealism to make himself for "all" change. It doesn't matter what you want to change, he is your man, This is good when it pertains to his ability to deliver on his intentions, but bad when you consider what his intentions are.
His complete lack of understanding of the realities of business and capitalism should scare all of us. The only reason anyone in business strives to do better is because they know there is a possible pot of gold in the future. This may come in the form of a monthly incentive, a yearly bonus, a partnership draw, a commission check, etc. The reality is that a salary pays an individual for coming to work and doing a job. The lure of the big prize is what creates competition among your best and brightest. Tale away the lure and what motivation would they have? We would be telling them, come work here, we all make the same, but the work is of no challenge because results don't matter.
The President's inability to come out and instill confidence in the fact that he won't cap or even heavily tax bonuses, could end up hurting the American economy more than any other single factor. Now add to that the fact that we are looking to spend trillions of dollars to make this sad idea a reality.
What is going to be of the utmost importance is for all of us to stay informed and educated as to what is going on in Washington. It will be up to us to seek out opportunities to inject some intelligent thinking into the conversation.
His complete lack of understanding of the realities of business and capitalism should scare all of us. The only reason anyone in business strives to do better is because they know there is a possible pot of gold in the future. This may come in the form of a monthly incentive, a yearly bonus, a partnership draw, a commission check, etc. The reality is that a salary pays an individual for coming to work and doing a job. The lure of the big prize is what creates competition among your best and brightest. Tale away the lure and what motivation would they have? We would be telling them, come work here, we all make the same, but the work is of no challenge because results don't matter.
The President's inability to come out and instill confidence in the fact that he won't cap or even heavily tax bonuses, could end up hurting the American economy more than any other single factor. Now add to that the fact that we are looking to spend trillions of dollars to make this sad idea a reality.
What is going to be of the utmost importance is for all of us to stay informed and educated as to what is going on in Washington. It will be up to us to seek out opportunities to inject some intelligent thinking into the conversation.
Wednesday, April 1, 2009
The World Looks to the President
At the G20 summit, our President is in high demand. Everyone is looking to President Obama to give some direction and leadership to get the global economy back on track. Does this sound like the best approach to the issues?
Take a quick look at the successes so far, AIG $130 billion with the result being a scandal, GM and Chrysler with $17 billion and now prepackaged bankruptcy. Look at the banks who have had nothing but negativity thrown at them since utilizing the TARP money that was thrown at and in a couple of cases forced on to them.
Now, yesterday it turns out another Obama choice for a position with his team, had trouble paying accurate taxes. That brings the publicized total of tax cheats in his inner circle of qualified candidates to five.
When you combine the due diligence that missed executive compensation in the AIG fiasco with the research capability that seems to be unable to tell if people actually pay taxes, well maybe it does make sense to turn to this team to figure out our world economy.
Maybe we could take over some more companies, drive them into bankruptcy and use the money we save on some more high speed trains from Disney to Vegas...
Take a quick look at the successes so far, AIG $130 billion with the result being a scandal, GM and Chrysler with $17 billion and now prepackaged bankruptcy. Look at the banks who have had nothing but negativity thrown at them since utilizing the TARP money that was thrown at and in a couple of cases forced on to them.
Now, yesterday it turns out another Obama choice for a position with his team, had trouble paying accurate taxes. That brings the publicized total of tax cheats in his inner circle of qualified candidates to five.
When you combine the due diligence that missed executive compensation in the AIG fiasco with the research capability that seems to be unable to tell if people actually pay taxes, well maybe it does make sense to turn to this team to figure out our world economy.
Maybe we could take over some more companies, drive them into bankruptcy and use the money we save on some more high speed trains from Disney to Vegas...
Saturday, March 28, 2009
Made for TV President
This week it became very apparent that this administration is going to be like none before it. They were everywhere you looked and throughout it all they still didn't answer any of the key questions holding back our economy.
First, they have yet to answer on the banks. It is simply a matter of how much regulation is the administration going to try to impose. We think it is quite apparent to everyone involved that greater government regulation would lead to a returning of TARP funds en mass. This would then remove some $250 billion from an already restricted credit market.
Second, how are they going to get people to invest in these Public/Private partnerships before they announce their intentions in regards to the bill passed by the House. This new form of securitization will have a hard time getting off the ground without some iron clad guarantees that the government would indeed stay within the bounds of the constitution.
Lastly, how do they get some of their credibility back. They denounced the bankers for the amount of leverage they were using, but then propose a plan that is based on a 6 to 1 ratio. By allowing the participants to have most of their stake on margin, buying the riskiest of assets with borrowed money. Wait a minute though, because the government had to borrow the funds to lend to the participants. Finally why participate if the money you make is going to be given to the government through taxes?
Back to the original point, all that time on TV looked good but really failed to accomplish much of anything.
First, they have yet to answer on the banks. It is simply a matter of how much regulation is the administration going to try to impose. We think it is quite apparent to everyone involved that greater government regulation would lead to a returning of TARP funds en mass. This would then remove some $250 billion from an already restricted credit market.
Second, how are they going to get people to invest in these Public/Private partnerships before they announce their intentions in regards to the bill passed by the House. This new form of securitization will have a hard time getting off the ground without some iron clad guarantees that the government would indeed stay within the bounds of the constitution.
Lastly, how do they get some of their credibility back. They denounced the bankers for the amount of leverage they were using, but then propose a plan that is based on a 6 to 1 ratio. By allowing the participants to have most of their stake on margin, buying the riskiest of assets with borrowed money. Wait a minute though, because the government had to borrow the funds to lend to the participants. Finally why participate if the money you make is going to be given to the government through taxes?
Back to the original point, all that time on TV looked good but really failed to accomplish much of anything.
Saturday, March 21, 2009
Are you kidding?
It looks as though we are getting exactly what we were asking for in our new administration. All sorts of rhetoric, political posturing and fantastic sound bites.
Two months in and our administration is yet to lay out any detail in their plan to stabilize the financial system. One way would be for them to stay quiet, as each time they speak, they appear a little less competent.
Does anyone remember the flack the automobile executives took when the first testified on "(The Hill?" The irony is, they were given a few weeks to come back with a detailed plan how they were going to survive. Anyone that operates successfully in business, knows you need to be able to access the situation, determine a viable solution and then execute. This is how business evolves. This is how innovation happens.
The issue with our administration is they apparently can't even read financials and understand them enough to identify a companies compensation, which is in plan english in the SEC filings. How most Americans with a television could have known about the bonuses, but the men in charge didn't, is baffling.
Finally, where was the "watchdog" Joe Biden? Wasn't he touted by our President as the man who would make sure there was no waste and or funny business? When you look at the failings with AIG, Fannie and Freddy and add it to all the special projects and pork in our "stimulus plan," one would have to wonder exactly where Mr. Biden has been looking and what has he been doing?
Two months in and our administration is yet to lay out any detail in their plan to stabilize the financial system. One way would be for them to stay quiet, as each time they speak, they appear a little less competent.
Does anyone remember the flack the automobile executives took when the first testified on "(The Hill?" The irony is, they were given a few weeks to come back with a detailed plan how they were going to survive. Anyone that operates successfully in business, knows you need to be able to access the situation, determine a viable solution and then execute. This is how business evolves. This is how innovation happens.
The issue with our administration is they apparently can't even read financials and understand them enough to identify a companies compensation, which is in plan english in the SEC filings. How most Americans with a television could have known about the bonuses, but the men in charge didn't, is baffling.
Finally, where was the "watchdog" Joe Biden? Wasn't he touted by our President as the man who would make sure there was no waste and or funny business? When you look at the failings with AIG, Fannie and Freddy and add it to all the special projects and pork in our "stimulus plan," one would have to wonder exactly where Mr. Biden has been looking and what has he been doing?
Friday, March 20, 2009
Doing a good job?
Yesterday, during his tour of California, President Obama stated the Tim Geithner was doing an outstanding job. What? This assessment would have to make anyone step back and wonder, "what is he talking about."
In most jobs around the country people are rewarded when the job they do results in an improvement in that organizations position. In this case, each move Mr. Geithner has made has had just the opposite affect.
Now maybe the President isn't talking about the same "good job'" the rest of us would think of? He may just be impressed that Mr, Geithner can keep a straight face when he talks, thus making it seem like the administration is serious about it's business.
Here's a question for business people out there. If you were a new public company looking for a leadership team, does this sound good to you? Chris Dodd, Tim Geithner, Joe Biden, Nancy Pelosi, Barnie Frank and Harry Reed? Exactly, at least you would have an inside track to government money.
In most jobs around the country people are rewarded when the job they do results in an improvement in that organizations position. In this case, each move Mr. Geithner has made has had just the opposite affect.
Now maybe the President isn't talking about the same "good job'" the rest of us would think of? He may just be impressed that Mr, Geithner can keep a straight face when he talks, thus making it seem like the administration is serious about it's business.
Here's a question for business people out there. If you were a new public company looking for a leadership team, does this sound good to you? Chris Dodd, Tim Geithner, Joe Biden, Nancy Pelosi, Barnie Frank and Harry Reed? Exactly, at least you would have an inside track to government money.
Wednesday, March 18, 2009
AIG Surprise?
It was fascinating last night to see all the reports on the AIG bonuses. Has nobody been paying attention? Take a moment and think about who is involved, Senator Chris Dodd who accepted the most AIG money out of all the politicians in Washington. He is the Senator who coincidentally put the provision that protected the bonuses, into the "Bail out Money" restrictions. You have President Barack Obama, who accepted the second most. Finally look at Timothy Geithner.
There is no one else in America with such a poor record over the past 18 months. From the collapse of Lehman Brothers, the hasty combination of Bear Sterns and JP Morgan Chase. The complete bungling of the Government take overs of Fannie, Freddie and Indy Mac just to name a few. To know that the President is counting on Tim Geithner speaks volumes about his intentions. Can you imagine leaving your business in the hands of someone who doesn't even uncover the executive pay packages, which spelled out these bonuses, during his " due diligence. Can you imagine how fast someone like Sandy Weill would have found those? Probably as fast as they could get out the words, get rid of them."
There is no one else in America with such a poor record over the past 18 months. From the collapse of Lehman Brothers, the hasty combination of Bear Sterns and JP Morgan Chase. The complete bungling of the Government take overs of Fannie, Freddie and Indy Mac just to name a few. To know that the President is counting on Tim Geithner speaks volumes about his intentions. Can you imagine leaving your business in the hands of someone who doesn't even uncover the executive pay packages, which spelled out these bonuses, during his " due diligence. Can you imagine how fast someone like Sandy Weill would have found those? Probably as fast as they could get out the words, get rid of them."
Sunday, March 15, 2009
No Talk is Good
The last week was very interesting in that it showed the less talk that came from the White House and Congress the more confident the rest of us became. Up until this point every time someone from the new administration has spoken, confidence has eroded. With a quiet administration this week, many of us had gains in our retirement plans, college funds and bank accounts. Here's hoping for another quiet week, which we hope will start today with uneventful Sunday morning politically theme shows.
Saturday, March 7, 2009
Congress Shorting the Market?
It actually dawned on us the other day, that when we talk about transparency, we should also be talking about our congressmen and Senators, too. As they are crying out for the folks at Merrill, we think it would be prudent to be able to see the portfolios of our elected officials to see how many are "short" the market?
Until this point it has been obvious that Bernie and his crew are not fans of banks, well actually any financial company. This is most ironic when you consider most of the hypocrites have the same position now as they did when they were overseeing the creation of this mess. It would be interesting to see how many of them were long the market as they were encouraging the idea that every American should have a home and how many are now short the market. Old fashion market manipulation at it's finest.
We can all see clearly that the agenda now is not "fixing the economy," but rather leveraging it to gain on their personal agendas. Why else would the stimulus package be 1100 pages long and have passed before anyone could read it all. From what we have seen from Joe Biden, the man in charge of making sure there are no earmarks, it would most likely take half of his term just to read it and the other half to figure it our.
Well the good news is we are now spending $8 billion on a high speed train from Disney to Las Vegas, which is probably an obvious top priority for America. Good job Boys and girls...
Until this point it has been obvious that Bernie and his crew are not fans of banks, well actually any financial company. This is most ironic when you consider most of the hypocrites have the same position now as they did when they were overseeing the creation of this mess. It would be interesting to see how many of them were long the market as they were encouraging the idea that every American should have a home and how many are now short the market. Old fashion market manipulation at it's finest.
We can all see clearly that the agenda now is not "fixing the economy," but rather leveraging it to gain on their personal agendas. Why else would the stimulus package be 1100 pages long and have passed before anyone could read it all. From what we have seen from Joe Biden, the man in charge of making sure there are no earmarks, it would most likely take half of his term just to read it and the other half to figure it our.
Well the good news is we are now spending $8 billion on a high speed train from Disney to Las Vegas, which is probably an obvious top priority for America. Good job Boys and girls...
Tuesday, March 3, 2009
What Power?
All eyes will be on Tim Geithner today, as he unveils the much awaited plan to handle Banks "toxic assets." What Power? To think that since taking office in January, every time a member of the Obama administration speaks, the market plunges and with it goes consumer confidence.
When are we going to see the confident, effective leader we were promised back in November. The irony is that raising taxes on the wealthy may actually take some of the luster off being a short term short. An unintended consequence of the error in policy could actually be a ignitor for long term value...
When are we going to see the confident, effective leader we were promised back in November. The irony is that raising taxes on the wealthy may actually take some of the luster off being a short term short. An unintended consequence of the error in policy could actually be a ignitor for long term value...
Sunday, February 22, 2009
Nationalization
The scariest part of the last week, has been to see a team of leaders, who the American People are counting on, make misstep after misstep. The biggest one would have had to have been the waste of time congressional hearing with the eight CEOs from the most important financial institutions in our country.
The fact that the committee, who most obviously don't have more than a third grade understanding of business, thought the best use of this opportunity would be to have each member take five minutes to have an individual sound bite for their local news. If they understood anything about business or the economy, they could have had an old fashion business review. The same type managers and CEOs complete on a regularly basis, to their superiors. The stress test would be complete and the American People could go to bed at night, at least knowing the details of what we face in our economy.
The problem with this method is that what would they do with this information. Isn't this the same group of people who have spent decades trying to figure out Health Care, Social Security, Education,etc and so far flunked in each attempt?
Finally thank you Rick Santelli for throwing a bit of reality into the discussion. What is being lost and not talked about is that there are a good many of us who are better off now than a few years ago, who saw this coming and saved to have funds available to take advantage of the economic turn, but are hesitant to do anything, because if we go nationalizing banks and socializing our country, we will be moving to another free market country.
The fact that the committee, who most obviously don't have more than a third grade understanding of business, thought the best use of this opportunity would be to have each member take five minutes to have an individual sound bite for their local news. If they understood anything about business or the economy, they could have had an old fashion business review. The same type managers and CEOs complete on a regularly basis, to their superiors. The stress test would be complete and the American People could go to bed at night, at least knowing the details of what we face in our economy.
The problem with this method is that what would they do with this information. Isn't this the same group of people who have spent decades trying to figure out Health Care, Social Security, Education,etc and so far flunked in each attempt?
Finally thank you Rick Santelli for throwing a bit of reality into the discussion. What is being lost and not talked about is that there are a good many of us who are better off now than a few years ago, who saw this coming and saved to have funds available to take advantage of the economic turn, but are hesitant to do anything, because if we go nationalizing banks and socializing our country, we will be moving to another free market country.
Wednesday, February 11, 2009
Economy on "The Hill"
The thing that has become very apparent over the past couple of days with the congressional and Senate hearings, is that these folks have no idea what they are talking about. Tim Geithner giving a broad idea of what he wants to do with the money at a time when people are looking for specifics. He talked at length about the importance of doing something and was confident in the need to spend trillions, but was unable to come up with one detail as to how this will be accomplished.
It is amazing that the people in congress and on "The Hill" in our government, who publicly ridiculled the auto industry for not having a plan when asking for $25 billion, have been working since November, but are unable to come up with a detailed plan, as to how they will spend this money. They know it is very important to spend money on all sorts of projects and they know it is going to be good, but they can't tell us how they will do this and who will get the money. The fact that nothing has happened yet is a sign that they don't have any idea and anyone watching Mr. Geithner would soe to the same conclusion.
At the same time you have Barnie Frank and his committee with full access today to the eight CEO of our major financial institutions and they were unable to come up with any questions that showed any better knowledge of economics and business than your average 5th or 6th grader. After an entire day of testimony, we all learned absolutely nothing, except the fact that our lawmakers are out of touch and are at a loss as to what to do.
Well, how about this...give the money to people that will spend it before anything the Obama administration will do will have any affect, us the American people. A trillion dollars is enough money to give each American who worked in 2008 an extra years salary. Well, that is up to the very richest. You could give every family making under $250K a year an extra years worth and you know exactly what they would do; buy cars, buy homes, build, etc.
To think that the amount of power our government officials have, the access to funds and the absolute incompetence are all seeming to add up to more uncertainty. Please Mr. Obama, answer "The White House Phone" and do something that makes sense and actually accomplishes something. Well these are just a few thoughts and as always we welcome yours....
It is amazing that the people in congress and on "The Hill" in our government, who publicly ridiculled the auto industry for not having a plan when asking for $25 billion, have been working since November, but are unable to come up with a detailed plan, as to how they will spend this money. They know it is very important to spend money on all sorts of projects and they know it is going to be good, but they can't tell us how they will do this and who will get the money. The fact that nothing has happened yet is a sign that they don't have any idea and anyone watching Mr. Geithner would soe to the same conclusion.
At the same time you have Barnie Frank and his committee with full access today to the eight CEO of our major financial institutions and they were unable to come up with any questions that showed any better knowledge of economics and business than your average 5th or 6th grader. After an entire day of testimony, we all learned absolutely nothing, except the fact that our lawmakers are out of touch and are at a loss as to what to do.
Well, how about this...give the money to people that will spend it before anything the Obama administration will do will have any affect, us the American people. A trillion dollars is enough money to give each American who worked in 2008 an extra years salary. Well, that is up to the very richest. You could give every family making under $250K a year an extra years worth and you know exactly what they would do; buy cars, buy homes, build, etc.
To think that the amount of power our government officials have, the access to funds and the absolute incompetence are all seeming to add up to more uncertainty. Please Mr. Obama, answer "The White House Phone" and do something that makes sense and actually accomplishes something. Well these are just a few thoughts and as always we welcome yours....
Sunday, February 8, 2009
What is he Thinking
We have to marvel at what is going on in the first twenty days of the Obama administration. For a man who ran on the whole concept of change in Washington, the only thing that seems to have changed is his stance. For anyone that read his book, "Audacity of Hope," this is no surprise.
In his book he talked about the way to eliminate corruption in politics, was to make everyone take public finance, to limit the amount of money any candidate would have to use and everyone would be on the same plane. Of course he was the only national candidate to refuse public financing. Way to go. I guess than it should be of no surprise that his nominations for cabinet posts are people who cheat on their taxes and accept, gifts that may appear to be questionable. Well so the guy has a lack of judgment when it comes to who he associates with.
What seems to be of more concern is the fact that he is filling all off the positions with politicians and lawyers. Not one person from business, the cure for the economy for these folks is to fix the environment, spend money on projects that won't create a job for at least eighteen months, and really will do nothing for the housing crisis. This would be like a family on the verge of bankruptcy borrowing money to get a new lawnmower, some fertilizer and spending time to clean up the yard. Hell they could just go look for employment elsewhere.
Now the real kicker is that while these fine individuals are racking up debt for our children, the economy is showing signs of turning. Yes indeed very early signs, but signs none the less. By the time the new package creates a job, unemployment will probably be down and we will have trouble filling it. Well just a few things to think about.
Oh one more thing. How can people be surprised that the government spent $350 billion. Without any accountability attached? Has there ever been any accountability with any money our government has ever spent?
In his book he talked about the way to eliminate corruption in politics, was to make everyone take public finance, to limit the amount of money any candidate would have to use and everyone would be on the same plane. Of course he was the only national candidate to refuse public financing. Way to go. I guess than it should be of no surprise that his nominations for cabinet posts are people who cheat on their taxes and accept, gifts that may appear to be questionable. Well so the guy has a lack of judgment when it comes to who he associates with.
What seems to be of more concern is the fact that he is filling all off the positions with politicians and lawyers. Not one person from business, the cure for the economy for these folks is to fix the environment, spend money on projects that won't create a job for at least eighteen months, and really will do nothing for the housing crisis. This would be like a family on the verge of bankruptcy borrowing money to get a new lawnmower, some fertilizer and spending time to clean up the yard. Hell they could just go look for employment elsewhere.
Now the real kicker is that while these fine individuals are racking up debt for our children, the economy is showing signs of turning. Yes indeed very early signs, but signs none the less. By the time the new package creates a job, unemployment will probably be down and we will have trouble filling it. Well just a few things to think about.
Oh one more thing. How can people be surprised that the government spent $350 billion. Without any accountability attached? Has there ever been any accountability with any money our government has ever spent?
Friday, January 16, 2009
Change at the top
We are only a couple of days away from the transition from President Bush to President elect Obama. As we face what has been referred to as "unprecedented times," I have to look back over the past couple of decades.
I was reading this morning about that great losses of the stock market back in 1973-1976, combined with high inflation, very low consumer confidence and the eventual oil embargo. I also read about the near bankruptcy of New York and President Ford turning them down for a bail out. In a sense saying, "you got in the mess, you get yourself out."
If you look back over the last four decades, this is the fourth major financial crisis, each caused by creativity in the financial/insurance business. This creativity followed by a lack of honesty in regards to when the ideas start to lose value and thus the industry money. Then there is the discover, public backlash, panic and then admittance followed be an action plan. The only part of this current crisis, seems to be the governments urgency and enthusiasm over giving out tax payer money.
Where other than our government could someone go for a loan and in the opening states, my business is doomed to fail, it is my fault, but if you will invest in me with no strings attached I can do the right thing and become viable again. If you want financials that's +' as they either show massive losses, or inflated profits, ie any mortgage company that posted profits from sub prime ARM mortgages.
The good news is we have folks like Barnie Frank who can't recall his participation in the fraud, as he has had the same seat and overseen much of the shananigans. He still, however, continues to relay an utter intolerance for the @people who got us in this mess, well look in the mirror Barnie.
Hopefully, President Obama will use his momentum for change to improve the lives of those of us who work everyday, make a good living, pay taxes and contribute to the economy, but I doubt it. Something to think about...
I was reading this morning about that great losses of the stock market back in 1973-1976, combined with high inflation, very low consumer confidence and the eventual oil embargo. I also read about the near bankruptcy of New York and President Ford turning them down for a bail out. In a sense saying, "you got in the mess, you get yourself out."
If you look back over the last four decades, this is the fourth major financial crisis, each caused by creativity in the financial/insurance business. This creativity followed by a lack of honesty in regards to when the ideas start to lose value and thus the industry money. Then there is the discover, public backlash, panic and then admittance followed be an action plan. The only part of this current crisis, seems to be the governments urgency and enthusiasm over giving out tax payer money.
Where other than our government could someone go for a loan and in the opening states, my business is doomed to fail, it is my fault, but if you will invest in me with no strings attached I can do the right thing and become viable again. If you want financials that's +' as they either show massive losses, or inflated profits, ie any mortgage company that posted profits from sub prime ARM mortgages.
The good news is we have folks like Barnie Frank who can't recall his participation in the fraud, as he has had the same seat and overseen much of the shananigans. He still, however, continues to relay an utter intolerance for the @people who got us in this mess, well look in the mirror Barnie.
Hopefully, President Obama will use his momentum for change to improve the lives of those of us who work everyday, make a good living, pay taxes and contribute to the economy, but I doubt it. Something to think about...
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