Category: Politics

Getting Value for Our Money (or Not)

Bush overpaid banks in bailout, watchdog says – Yahoo! News:

“Overall, the panel and the analysts it retained to conduct the valuation study found that the Treasury used taxpayers’ money to pay $62.5 billion more than the value of assets in the 10 transactions it examined. By extrapolating to the more than 300 institutions that received money, the panel concluded that the government in effect paid $78 billion more than the actual value of the assets at the time.
‘Treasury chose to offer ‘one size fits all’ pricing in order to encourage all institutions to participate, and in so doing disregarded apparent differences in their financial condition,’ the report states. ‘A consequence is that Treasury effectively offered weaker participants greater subsidies than it offered to stronger participants.'”

(Via Yahoo! News.)

This was inevitable. Try to ram a plan that radically changed from day to day to fix a complex problem years in the making is going to make for “large” results. Depending on what Geitner puts out, we’ll see how good or bad in comparison. Personally and I don’t say this often, I’m with Newt Gingrich on this whole thing.

Obama Takes ’em to the “Chuch”


Part 1 Top Quote:

No, seriously…that’s the point!


Part 2 Top Quote:

Let’s put Americans to work doing the work that America needs done.

PREACH!

Obama on Anderson Cooper 360

Video – Breaking News Videos from CNN.com:

““

(Via CNN Video.)

Responsiblity

Obama: ‘I screwed up’ in Daschle withdrawal – White House- msnbc.com:

“‘I’ve got to own up to my mistake. Ultimately, it’s important for this administration to send a message that there aren’t two sets of rules — you know, one for prominent people and one for ordinary folks who have to pay their taxes,’ Obama said on NBC’s ‘Nightly News with Brian Williams.'”

(Via MSNBC News.)

It’s sadly refreshing to see some honesty and forthrightness about himself in a President.

Visit msnbc.com for Breaking News, World News, and News about the Economy

Joe the Plumber advises GOP-ers – Yahoo! News

Joe the Plumber advises GOP-ers – Yahoo! News:

“Wurzelbacher, who became a household name during the presidential election, will be focusing his talk on the proposed stimulus package. “

(Via Yahoo!News.)

Absolute comedy.

Will the Stimulus Work?

Will the Stimulus Work? | The FactCheck Wire:

“In the meantime, if you want to keep up with the experts and their (sometimes quite technical) arguments for and against the stimulus plan, we suggest Krugman and former Clinton Treasury official Brad DeLong on the pro side and Becker and George Mason’s Tyler Cowen on the con side. The Atlantic’s new Atlantic Business page helpfully breaks down the experts’ arguments for the layperson.”

(Via FactCheck Wire.)

Check out both sides before arriving at an opinion.

Stimulate the Economy

Obama stimulus plan faces changes in Senate – Yahoo! News:

“WASHINGTON – A top Republican called for more mortgage relief and additional tax cuts in President Barack Obama’s massive economic stimulus package as Democrats conceded privately they will drop items that have drawn bipartisan criticism.”

(Via Yahoo! News.)

Finally, some sense from the Congress. I’ve been suspicious of them since the TARP fiasco. Whatever happened to good governance? Apparently, once you are in power, it fades into the background. I’ve seen tortured logic trying to justify “pork” projects that don’t stimulate the economy. These projects are to vary degrees laudable and worthy of legislation all on their own, but let’s get real here. Tax cuts and government spending that creates jobs is what is needed. Condoms are not stimulative in the proper sense!

Word to the Wise

Under Obama, `war on terror’ catchphrase fading – Yahoo! News:

“The ‘War on Terror’ is losing the war of words. The catchphrase burned into the American lexicon hours after the attacks of Sept. 11, 2001, is fading away, slowly if not deliberately being replaced by a new administration bent on repairing the U.S. image among Muslim nations.”

(Via Yahoo! News.)

Nuance continues to reign.

The Audacity of Nope

Colbertnation | The Colbert Report Official Site | Comedy Central:

(Via The Colbert Nation.)

Genius critique on the House vote.

If the Shoe Fits

Monument to Bush shoe-throwing shines at Iraqi orphanage – CNN.com:

“For the war-beaten orphans of the northern Iraqi city of Tikrit, this big old shoe fits.
A monument to a shoe thrown at former President Bush is unveiled at the Tikrit Orphanage complex.
A huge sculpture of the footwear hurled at President Bush in December during a trip to Iraq has been unveiled in a ceremony at the Tikrit Orphanage complex.
Assisted by children at the home, sculptor Laith al-Amiri erected a brown replica of one of the shoes hurled at Bush and Prime Minister Nuri al-Maliki by journalist Muntadhir al-Zaidi during a press conference in Baghdad.”

(Via CNN.)

My favorite part of this article was the last line. “By tradition, throwing a shoe is the most insulting act in the Arab world.”