Monday, March 29, 2010

US Treasury Secretary Should Be Fired, NOW!!!

Timothy Geitner is the financial overseer of a 9.7% unemployment rate. But, some economists has estimated it to be more around 15% -17%. That said, as chairman of the New York Federal Reserve Bank under the Bush Administration, Mr. Geitner advised, in error, then secretary Hank "Henry" Paulson on the 2008 Wall Street bailout, now known as TARP, Troubled or Toxic Asset Relief Program.

He knew or should have known that once bankers were bailed out, they'd return to their same old greedful ways. Believing that if they shored up their finances, they'd circulate the funds back into the economy via loans. Naivete.

Instead, bankers' advocates had the audacity to tell an unassuming public that financial institutions need not only be given billions, but their employees should also continue to be enriched, fearing that they'd leap to the competition.

Gee whiz.

These are some of the scoundrels that facilitated the economic downturn via massive fraud. Now, Mr. Treasurer reportedly made ANOTHER ridiculous deal with Citi last December when it agreed to sell the remaining $25 billion stake in 2010 after they (Citi) repaid $20 billion 4 months ago. This move was simply for bonuses that weren't eligible for 2009 because of specific bailout restrictions would be removed by year end of 2010. Cha ching!!!!

History shows that after a financial rescue, the violators tend to return to the same behavior, as simply evidenced in bankruptcy cases. You relieve the debt, the debtor tends to return to the very same negative behavior.

Further, Timothy is simply not savvy enough to oversee a $14 trillion economy. While cuddling with his fair skinned blue eyed cohorts near Manhattan's 23 Liberty Street, America's checkbook has dwindled within shillings of the former Rhodesian government.

President Obama, selecting an academician and a theorist as Treasury Secretary was not a good choice, a reach at best. But, there's a ray of hope. Albeit unlikely, with congress on break, make a bold recess appointment, along with the other 15 you're expected to make, a new Treasury Secretary.

Tuesday, March 23, 2010

Republicans Introduce Bill to Repeal NEW Health Care Law... ALREADY?

Sens. Lindsey Graham of South Carolina, Robert Bennett of Utah, Kit Bond of Missouri, Saxby Chambliss of Georgia, Mike Crapo of Idaho, John Ensign of Nevada, Kay Bailey Hutchinson of Texas, James Inhofe of Oklahoma, George LeMieux of Florida, James Risch of Idaho, Pat Roberts of Kansas and David Vitter of Louisiana have joined on a Tea Party like insurgency along with at least 14 Republican Attorney Generals (at last count) to attempt to undo the President's signature campaign pledge, the passage of comprehensive Health Care Reform for America, now known as the Patient Protection and Affordable Care Act.

Shame on these blatant obstructionists as they were never concerned about Health Care Reform or its associated costs. Remember, President Obama added 50-100 of Republican suggestions into the final bill and it still garnered no republican support. So obviously, Republican leaders had decided they weren't supporting health care reform, regardless. Hence, Republican Senator Lamar Alexander of Tennessee uttered in the conference committee with Democrats and the President, "...shelf the current bill and let's start over with a clean sheet of paper." This appeared to become one of their primary talking points as fellow republicans started reiterating this mantra constantly through the press and on their network, Fox News.

Alexander and his cohorts had 16 years to draft comprehensive Health Care Reform since defeating Clinton Administration's attempt since 1994, instead, they chose to pursue deregulation, tax cuts and war.

Monday, March 1, 2010

March 1, 1875: Congress passes the Civil Rights Act? Really?

Seems unbelievable that the US Congress passed another Civil Rights Act 135 years ago to this day only the be struck down by a Klansian-like Supreme Court 8 years later.

Worse, Civil Rights Act legislation passed as early as 1866 and withstood a veto by then President Andrew Johnson who argued that the Act violated states' rights.

States Rights? Yeah, states rights!

This argument is exactly as today's ultra right winged and often high tempered Tea Party goers and even a current sitting southern governor. But, is this a valid argument or is it a modern shield of Jim Crow advocacy.