Tuesday, September 30, 2008
Fiddling While Rome is Burning
Blame and accusations continue to fly between President Bush, a fractured Republican Party, the Democratic leadership, and both presidential candidates. American taxpayers are outraged! How this could happen? Why did no one see it coming? Why did no one do anything to prevent it? What are we going to do now? Who is to blame?
George Bush and his administration assume no responsibility or admit to any fault. They plead for urgent action for their 3-page plan. The lame duck president's credibility is at an all time low. Bush has cried wolf too many times. Skeptical members of his own party scramble to distance themselves from his failed administration. The financial situation becomes a political football during the last weeks of a presidential election.
Everyone uses the term Wall Street "bailout," a word that implies throwing money down a New York City rathole. Angry and economically stressed, taxpayers are vehemently opposed to assuming $700 billion in new debt. Why should they be expected to rush to the rescue of banking executives who have reaped million dollar bonuses and golden parachutes? Congressmen's offices are flooded with taxpayers' letters and calls to "let them suffer; let the bailout fail!" No one in government has communicated with the American people in terms they can understand. I'd like to offer a metaphor of the current financial crisis that we can identify with.
Imagine that you just finished struggling to pay off a 5-year car loan on your brand new car. You are on your way to your stressful job one morning, doing the speed limit, driving defensively, when a guy in an expensive, sportscar flies up right behind you, practically sits on your bumper. Next thing you know, the guy gives you the one-fingered salute, races around you on the right, and zig-zags through the traffic ahead of you. Suddenly, the traffic up ahead stops. The traffic behind you doesn't. Cars alongside you swerve. Bam, bam, bam! You're involved in a multi-vehicle pileup. Cars are crushed, crumpled, in pieces, destroyed. Passengers are badly injured; some are trapped. You are dazed, bruised, and bleeding. Soon, sirens begin to wail.
Are you going to stand around and figure out who is at fault? Are you going to cry and complain about the damage to your car? Are you going to whine about being late for work, what this accident will do to your driving record, or how your car insurance will increase? This is not the time to blame the idiot driver who caused the pileup. This is not the time to feel sorry for yourself and your car, and ask why it had to happen to you. It is time to get help and get the critically injured to the emergency room. And you'd better do it quickly!
That's what is going on with our economy. Huge banks that serve smaller banks all across the country are in a very severe credit crunch. Banks do not have money to loan. Big and small businesses all across the country cannot get loans to pay their employees, buy inventory, pay bills and overhead. Soon, they'll go out of business. Regular working folks won't get car loans, mortgages, bridge loans, college loans, or loans to pay their healthcare bills. The cost of everything will continue to rise. As the stock market tumbles, Americans everywhere will watch the value of their savings, pension, 401k, kids' college fund, and retirement fund go down, down, down. People everywhere will lose their jobs. Housing values will continue to plummet. There will be more foreclosures, personal bankrupcies, and homeless. Neighborhoods, towns, counties, cities will have no revenue for schools and other services.
This crisis is not about Wall Street executives losing their jobs. It's about you losing yours. It's not about punishing executives and politicians who were greedy or corrupt. It's about preventing a bad situation from getting much, much worse. It's not about blaming leadership for allowing this to happen or failing to see it coming, it's about stopping the hemorraging before the American economy bleeds out.
Saturday, September 27, 2008
While We Were Busy, ...
The stage had been carefully set. On a Friday morning, less than 45 days before a milestone election, the Bush administration announced the Wall Street meltdown. In spite of repeated assurances that the economy was fundamentally strong, and Phil Gramm's dismissal of economic concerns as "mental recession," an economic downturn had been allowed to deteriorate. After having met for weeks with federal financial advisors, Bush's grim and sobering address painted a grim picture of impending doom. He urged quick action and warned of the terrible risk of inaction. Financial gurus testified that the problem was too big to be allowed to fail. Congress gathered, questioned, deliberated, and compromised. With just one week left before recess, Congressional tensions mounted. Tempers flared. The nation's attention was riveted on saving America from the next Great Depression.
While we were busy, news about Iraq was quietly released to the media. After Prime Minister Malaki requested a timetable for the withdrawal of U.S. troops from Iraq, negotiations had begun. The Bush administration proposed delaying troop withdrawal for another year. After all, there was a U.S. domestic situation, the 2008 Presidential campaign and election. They agreed that U.S. troops would not come home in 2010. Troops will stay in Iraq until 2011. (Jedreport.com)
At the cost of $10 billion per month, another $120 billion dollars for the Iraq War will be added to the national debt. More lives will be lost; more young Americans will be maimed. The main stream media barely mentions it. There is no discussion, no explanation, no debate. There is no outrage. The economy has taken over America's attention; it's become the primary concern. The Iraq War is on the back burner.
Another bit of news was outweighed by last week's economic news. U.S. intelligent experts are putting the final touches on a secret National Intelligence Estimate (NIE) on Afghanistan. A draft being circulated in Washington paints a "grim" picture of the situation. Last week, Admiral Michael Mullen, Chairman of the Joint Chiefs of Staff, testified to Congress that the U.S. is "running out of time" in Afghanistan and that he is "not convinced we are winning." In the next few weeks, the damming NIE will be sent to the White House and other policy makers. But there are "no plans" to declassify the report until after the U.S. election. (CrooksandLiars.com)
Just imagine the level of media attention this news would cause if there were no economic crisis. These news releases about the wars in Iraq and Afghanistan would fill every headline and every lead story. But, while we were busy, there was little or no press, no discussion, no nothing.
For all the complaints about "the media," the Bush administration is expert in using the media to manipulate the news. They control not only what information is released but when and how it is released to the American people. Presently, the distraction by phenomenon tactic provides great cover to bad news. When the White House distracts Americans by occupying their thoughts, emotions, and the news with another event, it takes their attention away from unpopular, unflattering, or unpleasant news. In this case, the upset and worry, the scarey and catastrophic predictions, the sense of urgency, all created emotional reactions that distracted attention. When media outlets are consumed with covering the last weeks of the election process and a huge economic crisis, it provides the administration cover to release bad news. Like a stealth bomber (or a silent fart), bad news is released without detection.
The timing of the economic crisis works for very well for Bush, McCain, and the Republican party. As the White House occupies the public's attention, the bad news about the wars escapes unnoticed. Bush and McCain avoid blame for their positions on the wars and responsibility for the economy. The Republicans get to stage a big show to separate themselves from Bush's record. McCain interrupts his campaign's failing poll numbers, poor VP pick, lobbyist scandals, and numerous gaffes and missteps to rush to Washington to "save the day." All avoid scrutiny of their roles in deregulation and war policies. McCain hopes to position himself as a leader. He takes advantage of network interviews and photo ops. He avoids questions about Iraq and Afghanistan within weeks of Election Day. Bush escapes criticism, responsibility, and questioning for his latest failures.
As I see it, it's a win, win, win for the red team, and the American people are left holding the bag.
Thursday, September 25, 2008
Be Afraid, Be Very Afraid
Relying on a familiar refrain of impending catastrophe, Bush words ignited fear and panic in the hearts of American listeners. Similar to tactics in previous crises, Bush painted a distressing scenario that threatens the American way of life. Describing the situation as "growing more precarious by the day," "teetering on the edge of collapse," an ashen, grim-faced Bush warned of "financial calamity," and our country"slipping into financial panic." Bush described an economy in which banks fail, stock markets plummet, retirement accounts disappear, tight credit forces businesses to close, and jobs for millions of Americans are wiped out. Fanning Americans' worst fears, Bush urged "dramatic government action." In somber tones, Bush warned that Americans must act swiftly to move forward with his admittedly flawed plan. Once again, the American people are expected to trust George W. Bush and his political appointees.
Clearly, what was missing from the President's speech was his acceptance of any responsiblity for the present economic situation. There was no recognition of his administration's failures or lack of foresight. No assurances were offered that the broad powers included in Treasury Secretary Paulson's three-page emergency rescue plan would work to correct the underlying economic problems and provide long-term solutions.
Did Bush make his case for the urgent $700 billion taxpayer bailout? Perhaps so. His panel of federal economic advisors insists that Americans have no other option and warns of the cost of no action. Avoiding responsibility and denying fault while inciting fear and forecasting doom have worked well for Bush in the past. As I see it, this is the legacy of President George W. Bush.
Tuesday, September 23, 2008
Friends of Fannie Mae and Freddie Mac
What are Fannie Mae and Freddie Mac? Fannie Mae (Federal National Mortgage Association) was a US. publicly traded government-sponsored enterprise. A stock-holder owned corporation, Fannie Mae was authorized to make loans and loan guarantees. A leader in the secondary mortgage market, Fannie Mae provided mortgage companies, savings and loans, commercial banks, credit unions, and state and local housing finance agencies funds to lend to home buyers. Freddie Mac (Federal Home Loan Mortgage Company) was created in 1970 to expand the secondary market for mortgages in the US. Freddie Mac bought mortgages on the secondary market, pooled them, and sold them as mortgage-backed securities to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases.
In 2000, Fannie Mae and Freddie Mac set up Homeownership Alliance (HA), an advocacy group organized to defend against federal regulations of the mortgage industry. For five years, Rick Davis made more than $30,000 per month as president of the HA. According to former HA executives, Davis's compensation level was not unusual for companies with well-connected consultants. Davis ran HA out of his Alexandria, VA lobbying firm. As HA lobbied for political support to beat back federal regulations, Fannie Mae and Freddie Mac bought riskier mortgages and increased their profits and commissions.
Homeownership Alliance included non-profits Habitat for Humanity and The Urban League, but current and former executives report that HA was set up mainly to defend Fannie Mae and Freddie Mac by promoting their roles in the housing market. The cost of HA's operations was largely financed by Fannie Mae and Freddie Mac. A broadly recognized Republican, Rick Davis became the face of the organization. Davis's added value was his closeness to John McCain and the senator's future run for president. Davis drew McCain to the group's 2004 awards banquet to bloster clout and credibility, and McCain's photo appeared in the group's 2004 annual report.
When Homeownership Alliance recruited Davis in 2000, it was under pressure from private industry rivals and deregulation legislators who argued that Fannie Mae and Freddie Mac's federal sponsorship gave them unfair advantage and put taxpayers at risk. Although John McCain backed legislation to increase oversight of Fannie Mae and Freddie Mac, it did not result in changing their unusual structure. Critics of rival companies formed their own Washington group, FM Watch, that pushed for regulations to deter the two companies from expanding into new areas, including riskier and more profitable mortgages. HA hired Public Strategies, a communications firm that included former Bush advisor, Mark McKinnon. Davis wrote letters and made speeches for the group. Deregulation, encouraged and supported by Treasury Secretary, Alan Greenspan and the Republican administration, enabled the excesses of the mortgage banking industry. Once HA had outlived its usefulness it was disbanded.
In late 2004, Fannie Mae and Freddie Mac were under investigation for its accounting practices. The Office of Federal Housing Enterprise Oversight released a report in September of 2004, alleging widespread accounting errors, including shifting of losses so senior executives could earn bonuses. Fannie Mae expected to spend more than $1 billion in 2006 alone to complete its internal audit and bring it closer to compliance. The necessary restatement was expected to cost $10.8 billion, but was completed at a total cost of $6.3 billion in restated earnings. Concerns with business and accounting practices at Fannie Mae predate the scandal itself. In June of 2006, the House Banking Subcommittee On Capital Markets, Securities And Government Sponsored Enterprises held hearings on Fannie Mae.
In 2007, the the subprime mortgage crisis began. An increasing number of borrowers, often with poor credit, that were defaulting on their mortgages caused a precipitous decrease in demand for any mortgage-backed securities that weren't guaranteed by Fannie Mae or Freddie Mac. Home prices declined as increasing foreclosures added to the already large inventory of homes and stricter lending standards made it more and more difficult for borrowers to get mortgages. This depreciation in home prices led to growing losses. In July of 2008, the government attempted to ease market fears by reiterating their view that "Fannie Mae and Freddie Mac play a central role in the US housing finance system". The Treasury Department and the Federal Reserve took steps to bolster confidence in the corporations. Despite these efforts, shares of both Fannie Mae and Freddie Mac tumbled more than 90%.
As of 2008, Fannie Mae and the Federal Home Loan Mortgage Corporation owned or guaranteed about half of the U.S.'s $12 trillion mortgage market. As a result, the corporations were particularly affected by the housing market downturn and credit crunch that began in 2007. On September 7, 2008, James Lockhart, director of the Federal Housing Finance Agency (FHFA), annouced that Fannie Mae and Freddie Mac were being placed into the conservatorship. The action was "one of the most sweeping government interventions in private financial markets in decades".
As I see it, deregulation supported by lobbyist Rick Davis, led to shameful excesses in the mortgage banking industry. Rick Davis and John McCain influenced the laissez-faire policies of deregulation that led to the government bailout of Fannie Mae and Freddie Mac. Much touted self-regulation became an oxymoron.
Sunday, September 21, 2008
Sell Out, not Reform
In recent years, financial concerns have clouded the American dream. As housing values plummet, the housing market dries up, and APRs skyrocket, financial news becomes increasingly worrisome. For the majority of middle class Americans, their house is their largest investment. Soon, everyone feels the pinch of higher food and gas prices and energy bills. Wages are stagnant. The failure of huge mortgage companies and financial giants, Fannie Mae, Freddie Mac, and Bear Stearns, serves as a rude wake up call. Something is going seriously wrong. Fears are confirmed when the government offers bailouts to prevent even more home foreclosures. Then, with last week's U.S. government's $7 billion bailout of three Wall Street giants, even the most economically challenged American begins to see the need for a crash course in economics.
Since Friday's grim-faced announcements, by the President, Finance Chairman, and Congress, about the additional $7 billion corporate bailout, controversy has increased. Some talk about the need for urgent action to prevent a repeat of The Great Depression. Others criticize the socialization of American finance. Everyone blames greed and corruption on Washington and Wall Street. No one can fathom such a staggering figure. The burden of $1 trillion suddenly heaped on American taxpayers becomes outrage. Both presidential candidates weigh in on the crisis with some denial, reassurance, meetings with economic advisors, and then stinging accusations of their opponents. How could this happen in America? Whom is to blame? What are the fixes? When will we know more? Whom do we believe?
This weekend, John McCain is making a big show of criticizing the government's bailout of giant insurance company AIG (American International Group), but there is more here than meets the eye. For nearly three decades, John McCain fought for deregulation and small government. After his failed bid for the presidency in 2000, he created the Reform Institute, a non-profit think tank commited to campaign finance reform. As a non-profit organization, the Reform Institute is not subject to the regulations and disclosures of federal election law (FEC). The Reform Institute accepts "soft money," subsidies from foundations and corporate donors with issues before the Commerce Committee. For three years, the organization was headed by lobbyist Rick Davis, a longterm member of McCain's inner circle and his 2008 campaign manager. As president for three years, Davis received $395,000 in salary. During that time, he also headquartered his lobbying firm, Davis Manafort, in Reform Institute offices. Davis is just one of many lobbyists who have passed through the "revolving door" of the Reform Institute.
The Reform Institute is a front organization designed to funnel dollars to John McCain's political career. A decade ago, McCain floated a bill to ban insurance giants, like AIG, from overcharging federal projects, such as the Big Dig in Boston, and reaping windfall profits from investment of those dollars. McCain eventually killed the bill. Later, AIG donated more than $50,000 to the Reform Institute. Maurice Greenber, a McCain backer who ran AIG, has since been forced to relinquish the company under threat of criminal prosecution. Why would AIG donate so much money to a think tank whose work has nothing to do with the interests of insurance companies? Perhaps it was to gain access to John McCain.
McCain stepped down from the Reform Institute in 2005, but he remains solidly linked to the organization. What forced the $85 billion bailout of AIG, one of the largest donors to McCain's pet think tank? The fact is that, in the worst business deal in U.S. history, our government is buying the debt of McCain's backers. Earlier this month, Martin Feldstein, top McCain campaign advisor and board member of AIG, reported that part of McCain's proposed economic reform plan is to cut taxes further and shift healthcare costs from employers to employees in a "tax credit" scheme. As the largest insurance conglomerate, AIG stands to gain.
John McCain supported the Gramm-Leachy-Bliley Act of 1999, deregulation that repealed the Glass-Steagall Act, a law that had prevented a bank from offering a combination of investment, commercial banking and insurance services. The bill was sponsored by Senator Phil Gramm, until quite recently John McCain's 2008 top economic advisor, who later joined UBS as a lobbyists in 2004. Glass-Leachy-Bliley allowed commercial and investment banks to consolidate, and it legalized these mergers on a permanent basis. With no regulation, no checks and balances, greed and corruption took over. Executives and brokers earned tens of millions of dollars in commissions and bonuses while Americans lost their homes, their savings, and their investments. Now John McCain proposes that Americans invest their social security in the stock market!
In his book, John McCain called his involvement in the Keating 5 savings and loan scandal the worst mistake of his life. He vowed to never again sell out the public interest to high rollers, to never again besmirch the honor of his office, and to turn away from lobbyists and donors. Yet, with the AIG bailout, McCain has virtually underwritten the bankrupt company, and the American taxpayers will pay. Their $50,000 contribution to the Reform Institute bought AIG an $85 million dollar insurance policy. As I see it, in this manure pile of cronyism, Americans find John McCain deeply entrenched in the middle, and they both stink.
Vote Obama-Biden '08!
Saturday, September 20, 2008
Foreign Policy Expertise
The new president will be called on to restore American confidence, deal with wars, and work on national security. He will need to develop clear lines of authority and respect and work with his administrative team to develop solid foreign policy. Who will best handle threats of terrorism, economic globalization, humanitarian crises, climate change, and dependence on foreign oil? Which candidate will bring a high level of integrity, experience, and judgement to the office? Which man has the right combination of confidence and humility to lead and get the business of America done? To guide your choice of candidate, refer to the lists below.
Listen to the debates and ask, "Does the candidate....?"
1. Lead with conviction, bring a sense of confidence and some humility to the office, and foster cooperation throughout the world?
2. Plau down ideology and approach the world with rationality and perspective?
3. Reach out to the world and solve problems through cooperation?
4. Work multilaterally to build on strengths and find a new approaches to foreign policy?
5. Set the tone and work to restore America's esteem and repair its tarnished image abroad?
6. Act to send signals to the world, announce immediate policy changes, such as closing Guantanamo, waterboarding and torture?
7. Craft the tone and content of speeches and remember when he speaks to Americans, the whole world is listening?
8. Take the lead on climate change- don't wait for China and India- include them?
9. Treat Russia with respect, avoid conflict by considering the whole strategic situation, explore cooperative efforts?
10. Take the initiative with Iran, make U.S. intent and positions clear, start dialogue slowly and work up to high level strategic and tactical talks toward a stable Middle East and agreement on nuclear proliferation, avoid counterproductive talk?
11. Pressure Iraq to build up its own security and set an Iraqi timetable for U.S. withdrawal, gradually draw down troops as long as Iraq remains in control?
12. Create a realtionship with the new leader in Pakistan, encourage government to take control and eliminate Taliban threats in the mountainous region along Afghanistan's border?
13. Ensure a win in Afghanistan, work to eliminate government corruption and drug trade, military power is not enough- integrate military and use more soft power, provide security, reconstruction, economic development, foreign assistance, bring the border area under control?
14. Engage fully in talks with Syria and work to bring them over to our side?
15. Inform the American people that humanitarian efforts are in the U.S. national interest, gain public support, lead wisely and work with regional and private organizations, figure out the role of the U.S., don't commit American lives, work with other countries to reach a political solution?
Ask, "Does the candidate...?
1. Constantly remind people that we live in a dangerous, terrorist-threatened world, insist that "the surge is working, dammit!" and only he is ready to be commander-in-chief?
2. Continue to use the reasoning that "we must fight the terrorist abroad so that we do not have to fight them here" as an excuse to wage unnecessary war?
3. Rattle the U.S. saber at Russia and announce, "We are all Georgians now" and claim that a new Cold War has begun as Russia is pursuing an anti-America agenda and intends to reconstitute the Russian Empire?
4. Use labels like "evil-doers," "axis of evil," and phrases like "Bring it on!" and "Mission Accomplished" and announce that the U.S. is leading a "crusade" to spread democracy?
5. Blame Iran for violence against the U.S. in Iraq; threaten to "Bomb, bomb, bomb; bomb, bomb Iran" and laugh about it, joke about killing Iraqis with cigarettes?
6. Refuse to talk with Cuba, Iran, Syria, and any other "rogue" countries, convince the American people that talk legitimizes their positions and weakens America's strength?
7. Promise to occupy another Arab country for 10 to 100 years, just like Korea and Germany?
8. Encourage big businesses to futher globalize our economy; after all, most American people hate their jobs anyway and won't miss them?
9. Disregard the United Nations as worthless and decide to form a new League of Democracies, a global coalition for peace and freedom that will act by our wishes?
10. Tell Americans that the only way to prevent another terrorist attack at home is to require all Americans to speak Engish, fly the flag, and wear a flag pin, continue to tap phones and hack into personal computers?
11. Continually remind people around world that we are the greatest country in the world and that they depend on America's leadership?
12. Reinstitute the draft and redouble military efforts to continue the War on Terrorism?
As I see it, Barack Obama is the right choice for American foreign policy for the 21st century.
Friday, September 19, 2008
The Annointing
Immediately, questions began to arise about Sarah Palin. Who is Sarah Palin? What was her record as mayor of Wasilla and governor of Alaska? What kind of leader is she? What does she stand for? As McCain's handlers kept Palin out of the reach and denied media access, the country hungered to learn more about the attractive woman from small town Alaska. The more Palin was shielded from questioning, the more determined and speculative the bloggers and reporters became. Soon, campaign spokespersons accused the "liberal media" of personal attacks, and lack of respect and deference for their candidate. The conservative media rushed to their candidate's defense. Meanwhile, Palin continued to draw large, enthusiastic crowds. Her speeches touted her record as a political reformer and her attack dog sarcasm worked to bring down her Democratic opponents.
A relentless drip, drip, drip of information began to seep out of Alaska. Questions about Palin's credibility, knowledge, and readiness arose. Soon, Palin's claims of fiscal conservativism, foreign travel, energy expertise, and military decisions were disproved. Americans learned that Palin had not refused federal funding for the infamous bridge to nowhere, rather she had kept hundreds of millions of dollars for Alaskan infrastructure. Nor had she actually sold that corporate jet on ebay. Reports showed that Palin had chosen to construct a sports complex rather than a much-needed sewage plant, a decision that left the town of Wasilla deep in debt (and doodoo). She had staffed Wasilla's administrative offices with unqualified friends from high school and church. Contrary to her claim to rout out government lobbyists, Palin had hired a high-powered lobbyist to successfully secure earmarks from Washington. In line with her personal and religious beliefs, Palin had threatened to ban books at the local library and pressured the librarian. Palin had managed to oust the board from a hospital where abortions were performed.
As governor, Palin cut funds for counseling and adoption, substance abuse, children's healthcare, teen pregnancy services, daycare facilities, the homeless, the disabled, and education for youth in northwest Alaska. Involved in the Troopergate scandal, Palin had silenced employees and had forced the firing of state employees to settle a family score. She attempted to cut state funding for rape kits. Reports of an aggressive, vindictive, defiant, and petty Palin were revealed. Interviewed former employees reported that Palin demanded loyalty. Many claimed that the public is being kept from knowing the real Sarah Palin, saying that in Alaska, "it's Sarah's way or the highway." Despite revelations of her lies and distortions, Palin continued to tout her reforms and accomplishments in stump speeches across the country. The McCain campaign took over her office in Ankorage and directed all inquiries and calls to Washington.
The scrutiny of Sarah Palin continues. Despite questionable ethics and integrity, Palin continues to repeat her exaggerated claims. Although Palin has agreed to controlled and pre-planned TV interviews, her answers reveak a worrisome lack of knowledge, experience, and preparedness for the office of VP. Secretiveness continues as Palin claims executive priviledge in refusing to release professional emails and correspondence. Just this week, Palin and First Dude defy subpeonas for their testimony. Additional roadblocks have been set up to stall the investigation into the Troopergate scandal.
As American voters continue to learn the truth about Sarah Palin, her support decreases. Stories about tanning beds, personal chefs, aerial wolf hunting, earmarks to study seals and crabs, and dual email accounts continue to cast further doubts. Palin's cedibility on energy, foreign policy credentials, wildlife and environmental issues, and fiscal policies continues to erode. Her regressive positions on women's rights and religion turn away all but the most conservative voters. As the luster fades, Palin's unfavorables climb. Palin has become the butt of late night jokes and SNL parodies. Recent polls show that in less than three week's time, 50% of registered voters agree that Palin is not prepared for the office of vice president. Women continue to attend McCain-Palin rallies to hear Palin's speeches, but they aren't waiting around to listen to John McCain.
This week, an email is being circulated in the evangelical community by the Christian Broadcasting Network. It begins, "Sarah is the standard God has raised up to stop the flood. She has the annointing."
As I see it, Sarah's halo has lost its sheen, and the thought of Sarah Palin being a heartbeat away from the office of the leader of the free world is as scary as Hell.
Women's Issues
What are the positions of Obama and Biden on the issues that most matter to Amerian women and their families? Both candidates acknowledge that today in America, a large percentage of women in the workforce provide crucial support to their households. Often, women and single mothers provide soul support to both their children and aging grandparents. They know that healthcare coverage for those with pre-existing conditions, age factors, or pregnancy is difficult to afford or impossible to come by. More and more, married women's salaries are necessary to families' meeting their monthly bills, rising food and gasoline, mortgage payments, insurance, healthcare, and childcare costs.
Both Obama and Biden know that women are often hired for lower-paying jobs. Women earn 77 cents of each dollar earned by a man. The gap widens sharply for minority women. In companies undergoing reorganization or downsizing, women are usually the first workers to be laid off and the last rehired. A large number of women and children lack adequate healthcare. Sadly, statistics show that up to 77% of women who visit emergency rooms are victims of domestic abuse and violence.
Through their efforts in both the Illinois Senate and the U.S. Senate, Obama and Biden fought for legislation to level the playing field for women in the workplace. Obama and Biden support equal pay for equal work and a woman's right to sue employers to gain equal pay. They support requiring employers to provide company savings plans for workers. Both support legislation to protect middle class homeowners, those who own a single, modest home, rather than existing laws that provide tax benefits to investors who own serveral homes. Their plan includes changes in bankrupcy law to allow families to renegotiate their mortgages and remain in their homes. The Obama-Biden ticket supports raising the minimum wage and providing $1,000 tax cuts to all households earning less than $250,000 per year.
The Obama-Biden social policies favor increased family and medical leave, paid sick leave, flex time, and healthcare coverage. They support middle class tax breaks for daycare. The two Democrats support laws for birth control insurance coverage in states with prescription drug insurance. Obama and Biden support women's reproductive rights as outlined in Roe v. Wade. They believe that abortion should be rare and that it is a decision guided by faith, made between a woman and her doctor.
A larger percentage of senior citizens are women. Obama-Biden support policies to protect retirees' economic security by opposing the privatization of social security. People earning $50,000 or less per year will pay no federal income taxes. Their plan would change corporate laws that wipe out workers' pensions while "reorganization" allows executives to keep theirs.
Facts prove that one in three women in America are victims of physical or emotional abuse. Obama and Biden believe that domestic abuse is a crime, not just a family or cultural problem. They support the Violence Against Women Act. The act supports the funding of women's abuse hot lines and shelters where battered women can seek immediate safety. The act supports efforts to move abused women from shelters to more permanent housing. Both candidates support education for young women about domestic violence and favor corporate support for employees who are victims of abuse. To prevent revictimization by the courts, law enforcement training, arrest on information policy, and volunteer competent legal counsel are provided in the Obama-Biden plan.
Where does John McCain stand on women's issues?
Opposed increasing the minimum wage 19 times, claiming that it will hurt business owners.
Opposed the Lily Ledbetter law, equal work for equal pay, claiming that women lack the training and education needed for better paying jobs.
Opposed the Violence Against Women Act, claiming that domestic abuse is a family or cultural problem with a personal responsibility solution.
Opposes measures to assist Amercan families in danger of mortgage foreclosure, claiming that victims of predatory loan practices were reckless and should assume personal responsibility.
Opposes prescription coverage for birth control, but supports insurance coverage for Viagra, a medical condition.
Opposes abortion, even in cases of rape or incest.
Opposes embryonic stem cell research.
And McCain's running mate, Sarah Palin:
Favors abstinence-only sex education, overturn of Roe v. Wade, and supports creationist teachings in public schools.
Killed funds for Alaskan services for counseling and adoption, daycare, people with disabilities, pregnant teens, and the homeless, substance abuse facilities, and food banks.
Did not support funds for children's healthcare in Alaska.
As I see it, John McCain and Sarah Palin intend to continue the regressive policies on women's issues. The choice for American women is clear-- Obama-Biden '08!
Thursday, September 18, 2008
Dangerous Dumbing Down
As a former teacher, I am outraged at the disdain for education shown during this presidential campaign. Throughout the campaign, candidates with knowledge and education have been demonized and treated as suspect. Cynical GOP leadership has created the illusion that its ignornant, unqualified candidate, who lacks a grasp of the complex world, deserves to be elected. At the RNC, speaker after speaker deomonized the opposition candidate's level of higher education and labeled him as an "elitist" or "cosmopolitan," Republican dirty words. After what has become of our country under the current administration, Americans have suffered the consequences of what happens when their President lacks intelligence, curiosity, and knowledge of world cultures, leaders, and events.
The defamation of education began with the 2000 campaign for G. W. Bush. Although the younger Bush was born to an elite, northeastern family and holds degrees from both Yale and Harvard, he was presented to American voters as a born-again, pickup-driving, brush-cutting, small town country boy from Texas. His phoney personna sealed its connection to the American people through country music, Nascar, barbeque, and baseball. Campaign managers created the guy many thought they'd like to sit down and have a beer with. They successfully hid the hard-drinking, womanizing, guard-ducking realities until after the election. Bush continues to pride himself on being a low C student who only occasionally uses "the Internets" and "the Google." That is the message Bush continues to delivers to college graduates across the country. Through fear mongering, manipulations, lies, and 527 vicious attacks against his opponent, Bush was re-elected in 2004, in spite of his glaring incompetence. "The decider" seems to enjoy being underestimated. After almost eight years of failed economic, energy, and foreign policies, Bush proved himself an ignorant, aggressive, unrepentent egomaniac.
The successful GOP strategy of deception continues in 2008. The Republican Party recognizes that it can easily confuse the public. It continues to throw mud at facts and reality in order to make the truth suspect. Using a toxic mix of lies and doubletalk they know that their victory is in denying reality to represent John McCain as someone who connects with small town America. (digby) By focusing a campaign on phoney personality, false rhetoric, and smears and lies about the opponent, the GOP can avoid the facts and McCain's record. GOP talking points are distributed to conservative friends and allies at Fox News Channel, viewed in 25% of American households. Talk radio hosts Rush Limbaugh, Glenn Beck, Laura Ingrahm, and Michael Medved, spread vile smears, inuendos, and demeaning commentary across the airwaves. Anyone who questions their claims is dismissed and ridiculed as unpatriotic, sexist, or worst of all, "liberal."
The dumbing down of America plays right into GOP hands. Looking at the election map, it is clear that sections of the country where citizens with the highest levels of education live are blue. Rural, sparsely populated areas of the country that struggle to provide an excellent public education for students are red. As more educated people relocate from blue states to other areas of the country, a state moves from red, to purple, to blue. As a former teacher, I suspect that this is a good part of the reason why the U.S. government has failed to make education a top priority.
What kind of message does this send to our children about the value of education and knowledge? As I see it, dumbing down the educational and intellectual qualities of presidential leadership endangers America. Are we to become a nation that denies the science of evolution, stem cell research, and climate change? Are we to become a nation that devalues women? Are we to become a nation that ridicules higher learning, smart thinking, world knowledge, cultural awareness, and high qualitifications for the leader of the free world? Have we become so dumb that we blindly accept sensational sound bytes, lies, distortions, smears, and mudslinging? The dumbing down of voters and leaders' qualifications threatens our security, our economy, our rights, and our basic freedoms.
Wednesday, September 17, 2008
McCain=Chump Change
scammed, and bamboozled. Every four years, we seem to be suckered in. Why are Republicans so good at convincing us to vote against our own self-interests? Are we that gullible? We're no chumps! But we may wind up on the losing end again.
Change is the big slogan for this election. Obama has been talking about bringing real change, a new day, to Washington for nearly two years. The McCain camp jumped on the change bandwagon at the RNC in Minneapolis, in an attempt to steal the ball. The contrast between the two candidates lies in the kind of change each offers. The question for American voters is: Are we going to cast our votes for real change, or are we going to wind up with chump change?
John McCain characterizes himself as a straight talker, He even named his campaign bus the Straight Talk Express. However, McCain's pride in straight talk conceals a sly deflection strategy. It has served him well. To avoid being hit and run over by the bus, we need to recognize McCain's clever strategy to understand the kind of change he offers.
Listen to McCain's speeches and ads. Listen to how his deflection strategy works. McCain begins by promising to level with Americans. He offers listeners a little "straight talk." Rare for most politicians, he volunteers to confess to a few faults. By claiming to be frank and up front with voters, McCain pre-empts immediate criticism. After he apologizes for his past transgressions and promises that it will never happen again, he praises the American people by speaking about their honest hard work, their struggles, and recognizes their outrage. Like a cheating boyfriend who promises never to again stray, the deflection strategy allows McCain to keep on repeating the same mistakes and lies. The result is that McCain continues to get away with it.
Here is a recent example. As John McCain addressed this week's financial crisis, he swore to rout out greed and corruption on Wall Street. However, his voting record, his website, and decades of his rhetoric show that for decades, he supported smaller government and deregulation. These planks form the core of his party's platform. Knowing that McCain's campaign is staffed with lobbyists like Phil Gramm who fought hard for deregulation and with advisors like Carly Fiorina, who has profited from deregulation, McCain's promises just don't add up. In regard to a number of issues, John McCain tells voters what they want to hear even though his record supports opposing policies. There is a truth, integrity, and credibility problem in the McCain campaign.
Will Americans allow themselves to be sucker punched in November? Will America wind up with the insultingly insignificant change that continues to allow fat cats and lobbyists to prosper? Or will we clean out the old guard and bring about real change for the middle class? After the multiple disasters of the past 8 years, do the Republicans deserve another chance? Will American voters allow themselves to be duped again?
As I see it, the choice between John McCain and Barack Obama is a choice between chump change and change we can believe in.
No McCain, no Palin, no way!
Tuesday, September 16, 2008
No Maverick, No Reformer
The truth is that McCain has built a political career on the influence of power and greed. Lobbyist interests have guided McCain's policies for decades. He was deeply involved in the Keating 5 scandal. He used his influence to minimize prosecution of wife Cindy who was guilty of addiction and theft of prescription drugs. (NYT 9/14/08) McCain's campaign advisors include dozens of lobbyists in energy, finance, insurance, phamaceuticals, military supply. Phil Gramm, the one who said we were suffering a "mental recession" and accused the American people of being "whiners," profitted from lobbying efforts to deregulate the mortgage, finance, and insurance industries- the root cause of the current economic meltdown!
Although McCain publicly rails against greed and corruption, he employs executives like spokesperson Carly Fiorina who left Hewitt Packard in disgrace and took 21 million dollars in a golden parachute with her. She stands to gain just as much in stock options and pension. For 8 years, McCain has supported deregulation and voted with the Bush administration 90% of the time.
As I see it, my friends, that's no maverick; that's no reformer. Apparently, the good people of Arizona have been aware of this for years. Now McCain says he will change the very laws that would put his friends out of work. Really? I just hate it when politicians act as though voters were stupid.
Senator McCain: Where have you been for the last 8 years? What have you done for us lately?
Perhaps you were inventing the blackberry.
Sarah Palin's Energy
It is no secret that the Republican Party is campaigning for increased offshore oil drilling. But that alone will not fix the energy crisis. Results from offshore drilling will take between 10-15 years. Most of that oil will leave the U.S. In the end, it will save Americans about 5 cents per gallon on gasoline. Right now, the U.S. government owns the oil rights to millions of acres of land across the country. Oil rigs already exist in places on the ranges of Colorado, Wyoming, and Montana, but they are sitting idle. The reason? It is not profitable enough. Another critical factor is oil refinery capacity. In recent decades, oil companies have closed oil refineries. Not a single refinery has been built in over 30 years! The lack of refining capacity keeps the prices of oil and gasoline high.
Alaska is a state rich in oil and gas reserves but too poor to pull it out of the ground and move it to ports where it can be shipped to refineries in the lower 48. For the past eight years, the Bush administration has been hammering Congress to open the Alaskan wildlife preserve (ANWR) to oil drilling. Endangered polar bears and pristine wilderness be damned, the Republicans are whipped into an oil drilling frenzy, chanting "Drill, baby, drill!" Bush claims that only a few thousands of acres within the million acre preserve would be affected by the oil industry. He fails to mention that roads and pipelines will be constructed through more of Alaska to connect drilling sites to ports, threatening wildlife, environment, and climate change.
I think it is appropriate to understand Palin's positions and record on the development of oil and alternative fuels. The short growing season in Alaska probably rules out homegrown bio-fuels, but I've read that they grow humongous pumpkins and cabbages. Assuming there are some wicked-kickass winds in Alaska, how does wind energy fit into the Alaskan energy plan? What are Palin's positions on "noo-ku-ler" energy? What does the state of Alaska do with the waste? How about geothermal energy? Solar?
Voters need to hear more about Palin's energy experience. What has she actually accomplished so far? Blaming the media for lack of respect and deference, the McCain campaign shields Palin from unscripted interviews and news conference questions about her policies, record, and experience. During Palin's one and only interview, Charlie Gibson's energy questions were met with exaggerated and distorted resonses. There seems to be a Sarah Palin credibility problem.
As I see it, the selection of Sarah Pain was an obvious pander to the right wing Republican base. Her stands on social issues has thrilled the neo-cons and revived a lack-luster campaign. But, the choice also had much to do with energy policy. Palin is their ticket to gaining access to ANWR. Big oil companies and John McCain's oil lobbyist friends are thrilled to have Palin and Alaskan voters on their side. Imagine how her popularity will skyrocket as Palin brings the energy "bacon" home to Alaska with more federal funds, jobs, and tax rebates!
The Republican conventioneers chanting "Drill, baby, drill" were oilmen and fat cat oil lobbyists speaking firectly to Sarah. They are licking their chops in anticipation of the opportunity to do what oilmen do best. In a McCain-Palin administration, they'll be laughing all the way to the bank. I wonder who will be pulling the strings on the inexperienced, unqualified Energy Queen?Now that's a frightening thought.
Monday, September 15, 2008
Duck, Here Come the 527s!
A name like The American Issues Project Organization (americanissuesproject.org) seems to imply a fine group of people interested in issues that concern most Americans. Yet, hidden beneath the title are the beliefs and goals of a narrow slice of the population, an ultra conservative 527 group. On their website, the organization states its goals to "preserve the strong, traditional American ideals that made this country special" and "promote conservative values that have stood the test of time" and "make the U.S. A. a blessed nation." It is based on their strong belief that traditional American values are under attack. To promote their own interests, American Issues Project members support the 2008 Republican McCain-Palin ticket.
As in many conservative speeches and writings, the American Issues Project uses conservative code words to disparage and demean those outside their narrow circle. These words contain a dark, foreboding undercurrent of meaning. Sometimes referred to as dog whistle words, they contain messages in which only other conservatives understand the intent. To others, code words sound innocent and harmless, even quite American and patriotic. Conservative code words and phrases have been used quite often during the last eight years and during the election season. Examples of code words for persons on the left may include: the Hollywood elite, the cultural elite, the Eastern elite, cosmopolitan elite, liberals, radical feminists, angry blacks, angry left, advocates of surrender, Democrat Party, liberals, the media, activist judges who legislate from the bench, and, of course, illegal aliens. Code words for conservative policies include: religious choice, school vouchers, the war on terror, a land of laws, pro-growth business environment, pro-American energy policy, radical Islamic extremists, return to strong leadership, and a sense of patriotism and faith in America. A familiar Bush foreign policy phrase has been "attack them where they live so we do not have to fight on American soil."
The American Issues Project organization is led by Ed Failor, Jr., a conservative blogger and former senior advisor for the John McCain campaign, and Ed Martin, controversial former chief of staff for Missouri Governor Matt Blunt. So far, this 527 group has distributed thousands of brochures in battleground states, designed to raise doubts, questions, and suspicion about Barack Obama, accusing him of an association with Bill Ayers. Obviously, regulation by law, veracity, or conscience does not apply.
The work of the American Issues Project organization is far from finished. No doubt the vicious attacks on Obama will intensify during the final 50 days of the campaign. Smear ads and brochures will appear in newspapers and on radio, TV, and computers intended to damage the Democratic candidates. They will do their best to paint Obama as different, untrustworthy, and scary. The 527s are betting their fortunes and their political careers and futures on John McCain. Lacking a true moral compass, 527s will do and say anything to win.
Keep your clicker and recycling bin handy.
It's the Economy
This morning's news about the financial failures at Lehman Bros., Merrill Lynch, and ING caused the stockmarket to plummet. Meanwhile, John McCain was flying solo and struggling to deliver a reassuring message to the small crowd gathered. He announced that the "basic fundamentals of the economy are sound!" He went on to promise that reform is needed in Washington, that he was the man for the job, and claimed that this would never have happened on his watch.
As I see it, McCain is no reformer when he continues to deny the problem. He is no reformer when his advisors and friends promoted the policies that resulted in financial disaster. He is no reformer when he and his friends have profited from these policies while regular Americans have suffered. He is no reformer when he hasn't spoken up for the middle class in the last 8 years. Where has the reformer John McCain been, and what has he done for us lately?
McCain's friends at Fox News were arguing and bloviating on this very topic just last week."The economy is just fine, really; it's an evil main stream media exaggeration. They are inventing problems to cast a cloud on the Bush administration." Only yesterday, McCain's fianacial advisor and Washington Post writer, Donald Luskin in "Quit Doling Out That Bad-Economy Line," (washingtonpost.com) parrotted the same talking points. (I'm guessing that he's had a really bad Monday)
Over the last 8 years, John McCain's financial advisor, lobbyist Phil Gramm of "a nation of whiners fame," has fought hard for banking and mortgage deregulation. One of many Repubicans who support smaller government, Graham fought to loosen government oversight on mortgage and financial institutions. The result: hundreds of thousands of home foreclosures, sharp housing market downturn, tight mortgage loans, government bailouts, bankrupcy on Wall Street, and a falling stock market. This translates into further losses of jobs, pensions, home values, and investments for millions of Americans.
Recently, the government decided to bail out Fannie Mae and Freddie Mac to staunch the hemorraghing of home foreclosures. Taxpayers were outraged at being forced to assume the debt of private banking institutions, especially while banking executives escaped with bonuses in the tens of millions of dollars. In Colorado today, Sarah Palin proudly announced her good news. The government has refused to bailout LB, ML, or ING. They are on their own to declare bankrupcy. In other words, "WooHoo, financial markets are in the skids, but that doesn't affect us!" This kind of thinking goes to prove that even a blind pig can find a mushroom once in a while.
In his speech today, Barack Obama pointed to the disconnect between McCain's "cabin" in the mountains in AZ and the offices on Wall Street. Both Obama and Biden today asked their supporters if they agreed with John McCain's assessment of the U.S. economy. Much booing and sarcastic laughter ensued. The point was made that McCain just doesn't get it nor do his advisors.
As I see it, John McCain's plan to continue tax relief to big business and a trickle-down economic plan works just fine for the elite few, but it doesn't work for most Americans. A culture of greed and a lack of oversight and conscience has been allowed to flourish in 21st century America. In today's business world, executives' salaries are 500 times that of the average employee. Some, like Carly Fiorina another McCain campaign advisor, fired from Hewlitt Packard for mismangement and questionable ethics are paid $20 million to leave. That is outrageous!
I am not willing to put my faith for the future in the hands of someone who promises to become a reformer of the very policies he has supported and profitted from for decades. McCain has sat on his hands for 8 years and remained out of touch with the hardworking people of American. He doesn't deserve my vote.
I say no McCain, no Palin, no way!
Sunday, September 14, 2008
The Supreme Court
We have all witnessed the Bush Administration's corruption of the justice department. Competent liberal judges were fired and replaced by Liberty University-grown conservative judges, hand picked by the Bush administration. We are also aware of the far right wing agenda that makes up the base of the Republican party. With the naming of Sarah Palin as the VP candidate, the base has come home to support McCain-Palin. Those McCain once labeled "agents of intolerance" (Falwell, Dobson, Perkins, etc.) have been outed as soulmates. In the past few weeks, we have become quite familar with their English-only, Christian nation, flag waving, anti-immigrant, pro-life, abstinence-only, anti-embryonic stem cell research, book banning, creationist philosophy, and denial of man's role in climate change, reactionary policies.
If the Values Voters Summit is any indication that the far right has risen from the ashes, the speakers list includes disingenuous neo-con blowhards Sean Hannity, Rush Limbaugh, Ann Coulter, Jonathan Falwell, Lou Dobbs, Michael Medved, Bill Bennett, and others who spew hate from pulpits, air waves, TV and other media outlets. In fact, disparaging racist, sexist, and discriminatory, anti-Obama, anti-Democratic platform merchandise was available for sale at the summit. All that seemed missing were the white pointy hoods and burning crosses. And these people call themselves Christian, patiotic Americans! (See ValuesVoters.org.)
Just last May, during the primary race, John McCain delivered a speech on the nature of the Supreme Court. Without naming specific legislation, McCain stated his belief that the issue of abortion should be turned over to individual states. In other words, McCain seeks to overturn Roe v. Wade, setting back decades women's reproductive rights. Perhaps John McCain envisions women returning to the days when they or their friends risked their lives with backroom abortions or were forced to sneak out of state for the procedure. The repeal of Roe v. Wade would criminalize all abortions, except in the case of threat to the life of the mother. (see video of Jeffrey Toobin, the NewYorker at www.fora.tv.)
Citing another Supreme Court case, John McCain rebuked Justice Kennedy's recent ruling that the U.S. would no longer allow the executions of underaged criminals. Kennedy's ruling removed the U.S. from the list of the few remaining countries in this modern world that still execute children: the Congo, China, Iran, Saudi Arabia, and a few other Middle Eastern countries. John McCain's view is that states should be free to make that decision as well. Immediately, visions of ethnic Texas, Georgia, Florida, and Arizona youth popped into my head.
It just doesn't add up.
As I see it, no woman chooses abortion as a first option or as a form of birth control. The abortion decision is never made lightly. It is a medical decision reached between a patient and a doctor. It is a personal and spiritual decision, between a woman, her mate, and her God. Present law (Roe v. Wade) does not force any woman to have an abortion, but it does preserve the right. Like those famous words of Voltaire, " I disapprove of what you say, but I will defend to the death your right to say it," we must preserve a woman's right to choose. Criminalizing abortion has been tried before, and like criminalizing sex and abstinence-only sex education, it just doesn't work.
I have to wonder how the party that opposes abortion seems to have no problem approving the execution of children. The same bunch that proudly flexes its muscles to find a military solution to almost every foreign policy problem, cites the "sanctity of life" when it comes to abortion. This is true even in cases where pregnancy of a child is a result of incest or rape. The political "maverick" party that just sent over 4,000 young men and women to their deaths in an unnecessary war and wishes to continue that war for 10-100 years is willing to execute children and put pregnant women's lives in jeopardy.
It will take only one more conservative judge on the Supreme Court to tip the scale to the right. More than one, it tips even farther to the right. Supreme Court judges are appointed for a lifetime (or until they retire). That could be our lifetimes, a truly frightening thought.
Another reason to say, "No McCain, no Palin, no way!"
Friday, September 12, 2008
From a Boomer's Point of View
The general election phase of the 2008 presidential campaign is in full swing. From day one of the primary campaign, this female, professional, suburban, white baby boomer has closely followed the candidates for the first time in her life. Raised in a Republican household, in my early voting years, I was a registered Republican. But since the 1990s, I have considered myself an Independent voter who looks carefully at the issues rather than the personalities.
In these critical times, I see the 2008 election as an opportunity for serious course correction in U.S. government. I see this election as a clear choice between the past and the future; chump change vs. real change. Although I don't seem to fit the "profile," I support the junior senator from Illinois, Barack Obama.
Writing is what I do, so this blog allows me to share my thinking and pertinent articles from newspapers and the blogosphere to learn about and enjoy the campaign from a boomer's point of view.