3 Men who brought down Wall Street....................
Be sure to read the "where they are now"!!
Here is a quick look into 3 former Fannie Mae executives who have brought down Wall Street.
1. Franklin Raines: was a Chairman and Chief Executive Officer at Fannie Mae. Raines was forced to retire from his position with Fannie Mae when auditing discovered severe irregulaties in Fannie Mae's accounting activities. At the time of his departure The Wall Street Journal noted, " Raines, who long defended the company's accounting despite mounting evidence that it wasn't proper, issued a statement late Tuesday conceding that "mistakes were made" and saying he would assume responsibility as he had earlier promised. News reports indicate the company was under growing pressure from regulators to shake up its management in the wake of findings that the company's books ran afoul of generally accepted accounting principles for four years." Fannie Mae had to reduce its surplus by $9 billion.
Raines left with a "golden parachute valued at $240 Million in benefits. The Government filed suit against Raines when the depth of the accounting scandal became clear. http://housingdoom.com/2006/12/18/fannie-charges/ . The Government noted, "The 101 charges reveal how the individuals improperly manipulated earnings to maximize their bonuses, while knowingly neglecting accounting systems and internal controls, misapplying over twenty accounting principles and misleading the regulator and the public. The Notice explains how they submitted six years of misleading and inaccurate accounting statements and inaccurate capital reports that enabled them to grow Fannie Mae in an unsafe and unsound manner." These charges were made in 2006. The Court ordered Raines to return $50 Million Dollars he received in bonuses based on the miss-stated Fannie Mae profits.
2. Tim Howard: Was the Chief Financial Officer of Fannie Mae. Howard "was a strong internal proponent of using accounting strategies that would ensure a "stable pattern of earnings" at Fannie. In everyday English - he was cooking the books. The Government Investigation determined that, "Chief Financial Officer, Tim Howard, failed to provide adequate oversight to key control and reporting functions within Fannie Mae,"
On June 16, 2006, Rep. Richard Baker, R-La ., asked the Justice Department to investigate his allegations that two former Fannie Mae executives lied to Congress in October 2004 when they denied manipulating the mortgage-finance giant's income statement to achieve management pay bonuses. Investigations by federal regulators and the company's board of directors since concluded that management did manipulate 1998 earnings to trigger bonuses. Raines and Howard resigned under pressure in late 2004.
Howard's Golden Parachute was estimated at $20 Million!
3. Jim Johnson: A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. A look at the Office of Federal Housing Enterprise Oversight's May 2006 report on mismanagement and corruption inside Fannie Mae, and you'll see some interesting things about Johnson. Investigators found that Fannie Mae had hidden a substantial amount of Johnson's 1998 compensation from the public, reporting that it was between $6 million and $7 million when it fact it was $21 million." Johnson is currently under investigation for taking illegal loans from Countrywide while serving as CEO of Fannie Mae.
Johnson's Golden Parachute was estimated at $28 Million.
WHERE ARE THEY NOW?
1. FRANKLIN RAINES? Raines works for the Obama Campaign as Chief Economic Advisor
2. TIM HOWARD? Howard is also a Chief Economic Advisor to Obama
3. JIM JOHNSON? Johnson hired as a Senior Obama Finance Advisor and was selected to run Obama's Vice Presidential Search Committee<><>
IF OBAMA PLANS ON CLEANING UP THE MESS - HIS ADVISORS HAVE THE EXPERTISE - THEY MADE THE MESS IN THE FIRST PLACE. Would you trust the men who tore Wall Street down to build the New Wall Street ?
Wednesday, November 12, 2008
Protectionist Democrats - How They Damage Caterpillar
Nancy Peolsi wants to bailout GM. Before President Bush signs off on any bailouts for the auto industry, he should insist that the Democrats and the unions that support their elections and reelections should unblock the presidents, and the business community, strong desire to sign free trade agreements (FTA's) with Columbia. Peolsi was able to shelve all FTA's succumbing to strong pressure from the unions who felt that especially Columbia's President Uribe wasn't doing enough to protect his unions.
President Uribe, a friend of the U.S., (we don't have that many, we started losing them more rapidly under Democrat President Johnson, read robert Shaplen, "The Road From War - Vietnam 1965-70) has been battling the terrorist and narcotic dealing FARC supported by Chavez ever since his election in 2002. Pelosi, playing politics as usual in kow-towing to the unions before the November election, blocked all FTA's including South Korea and Panama. Uribe's government has had considerable success in protecting the union and it's organizers but not enough to satisfy the Pelosi gang. Now that that the Democrats and Obama has won, Obama should move to sign these "Pelosi shelved" FTA's. If the Pelosi, Obama and the union gang, (hereafter I'm referring to them as the POUG's.) want to stick the taxpayers with an auto industry bailout, the bailout of union greed and weak GM management, should only happen if President Bush insists on a vote of the outstanding FTA's with Columbia, South Korea, and Panama.
more than ever in this economy, U.S. exporters need every new market they can find. Caterpillar, a major producer and exporter of off-highway trucks, motor graders, bulldozers and wheel loaders is organized by the UAW. To export an off-highway truck to Columbia adds a 15% tariff or $200,000.00 each. More Cat D-11 bulldozers operate in Columbia than in any country in the world, yet Cat has to pay a 5% tariff on bulldozers imported to Columbia. Overlooked by the POUG's is that our countries manufacturers and exporters are facing increasing competition from other exporters of heavy equipment like Canada and the European Union, both who are doing their own FTA's with Columbia.
What part of "cutting off your nose to spite your face" doesn't the POUG get?
I suggest that now is the time for the POUG to set politics aside for awhile and think practicably about what will actually work to move the economy forward at the same time signaling to the world the willingness to work with all peoples.
Wasn't that was a trademark of the recent Obama campaign promises? Or will all the promises he made, and they are legion, kill capitalism and further promote protectionism, unionism, populism and socialism?
President Uribe, a friend of the U.S., (we don't have that many, we started losing them more rapidly under Democrat President Johnson, read robert Shaplen, "The Road From War - Vietnam 1965-70) has been battling the terrorist and narcotic dealing FARC supported by Chavez ever since his election in 2002. Pelosi, playing politics as usual in kow-towing to the unions before the November election, blocked all FTA's including South Korea and Panama. Uribe's government has had considerable success in protecting the union and it's organizers but not enough to satisfy the Pelosi gang. Now that that the Democrats and Obama has won, Obama should move to sign these "Pelosi shelved" FTA's. If the Pelosi, Obama and the union gang, (hereafter I'm referring to them as the POUG's.) want to stick the taxpayers with an auto industry bailout, the bailout of union greed and weak GM management, should only happen if President Bush insists on a vote of the outstanding FTA's with Columbia, South Korea, and Panama.
more than ever in this economy, U.S. exporters need every new market they can find. Caterpillar, a major producer and exporter of off-highway trucks, motor graders, bulldozers and wheel loaders is organized by the UAW. To export an off-highway truck to Columbia adds a 15% tariff or $200,000.00 each. More Cat D-11 bulldozers operate in Columbia than in any country in the world, yet Cat has to pay a 5% tariff on bulldozers imported to Columbia. Overlooked by the POUG's is that our countries manufacturers and exporters are facing increasing competition from other exporters of heavy equipment like Canada and the European Union, both who are doing their own FTA's with Columbia.
What part of "cutting off your nose to spite your face" doesn't the POUG get?
I suggest that now is the time for the POUG to set politics aside for awhile and think practicably about what will actually work to move the economy forward at the same time signaling to the world the willingness to work with all peoples.
Wasn't that was a trademark of the recent Obama campaign promises? Or will all the promises he made, and they are legion, kill capitalism and further promote protectionism, unionism, populism and socialism?
Monday, November 10, 2008
PPD - Truth in Taxation Notice in Today's JS
PPD will collect $14,492,000.00 in property taxes from Peoria taxpayers for 2008, up from $13,671,337.00 for 2007. Debt service and PBC leases for 2008 are $3,925,000.
Bids for the new softball complex were due on September 4. As of this date, no news of any contract being issued has appeared in print and no ground work has started for the complex off Lake Avenue near Peoria Stadium. Even if work started now, the playing fields would probably not be usable for the 2009 season.
Also, the JS reported that the newly expanded zoo slated to open in 2008, will now open in June 2009.
Question? Is the PPD so "strapped" for money that the softball fields slated to open in 2006 at the corner of Rt. 91 and Fox Road on land "supposedly" traded with Bradley for Meinen Field (now Shea Stadium) that neither location will become a reality in the reasonable future?
If you recall my previous blogs, Bradley took out a mortgage for $2.1 million on 162 acres of farmland as part of their end of the deal giving Bradley title to Meinen Field. The PPD planed to open a "big sports and recreation complex" on this site to host National Softball Tournaments. What happened?
Terry Bibo wrote a detailed article this summer saying how financially strong the PPD was and how they "owned" almost 9,000 acres of park land. Hmmm.
The PPD Headquarters in the Pavilion was to be transferred to the "being renovated or is renovated" old IDOT Building on Knoxville and Northmoor Rd. to make the Pavilion available for the Children Playhouse which was to open in 2006.
You may have noticed the expanded zoo was a $32,000,000.00 project but the JS just reported it will now be a $25,000,000.00 expansion, a shrinkage of $7,000,000.00.
I believe leadership in this community has overstretched. But what is new. I said that a few years back. With Caterpillar stock trading at $37 down from the last insider sale of $74 and with some growing grumbling from Caterpillar employees about their shrinking 401K's and shrinking value of their stock, it's time to pull the plug on the never "really wanted by the community as a whole" downtown museum. Unless, of course, some philanthropist steps forward with dozens of millions to donate.
With Bradley on a big fund raising drive, the zoo struggling to get off the ground, the RiverPlex still bleeding money and the museum short a lot of hoped for taxpayer millions to get underway, the economy in a tailspin, effect now being felt in Peoria, is it possible some of the leadership in this community have over-extended?
Then we have #150 draining money with questionable results, I don't believe we seen anything yet in some type of additional taxation to cover the $120-30 million in planned and new schools underway.
Opps, to borrow a term, I forgot the $100-200 million or more needed for new sewers in Peoria. And a half a dozen other projects out asking for funding.
Stay tuned.
Bids for the new softball complex were due on September 4. As of this date, no news of any contract being issued has appeared in print and no ground work has started for the complex off Lake Avenue near Peoria Stadium. Even if work started now, the playing fields would probably not be usable for the 2009 season.
Also, the JS reported that the newly expanded zoo slated to open in 2008, will now open in June 2009.
Question? Is the PPD so "strapped" for money that the softball fields slated to open in 2006 at the corner of Rt. 91 and Fox Road on land "supposedly" traded with Bradley for Meinen Field (now Shea Stadium) that neither location will become a reality in the reasonable future?
If you recall my previous blogs, Bradley took out a mortgage for $2.1 million on 162 acres of farmland as part of their end of the deal giving Bradley title to Meinen Field. The PPD planed to open a "big sports and recreation complex" on this site to host National Softball Tournaments. What happened?
Terry Bibo wrote a detailed article this summer saying how financially strong the PPD was and how they "owned" almost 9,000 acres of park land. Hmmm.
The PPD Headquarters in the Pavilion was to be transferred to the "being renovated or is renovated" old IDOT Building on Knoxville and Northmoor Rd. to make the Pavilion available for the Children Playhouse which was to open in 2006.
You may have noticed the expanded zoo was a $32,000,000.00 project but the JS just reported it will now be a $25,000,000.00 expansion, a shrinkage of $7,000,000.00.
I believe leadership in this community has overstretched. But what is new. I said that a few years back. With Caterpillar stock trading at $37 down from the last insider sale of $74 and with some growing grumbling from Caterpillar employees about their shrinking 401K's and shrinking value of their stock, it's time to pull the plug on the never "really wanted by the community as a whole" downtown museum. Unless, of course, some philanthropist steps forward with dozens of millions to donate.
With Bradley on a big fund raising drive, the zoo struggling to get off the ground, the RiverPlex still bleeding money and the museum short a lot of hoped for taxpayer millions to get underway, the economy in a tailspin, effect now being felt in Peoria, is it possible some of the leadership in this community have over-extended?
Then we have #150 draining money with questionable results, I don't believe we seen anything yet in some type of additional taxation to cover the $120-30 million in planned and new schools underway.
Opps, to borrow a term, I forgot the $100-200 million or more needed for new sewers in Peoria. And a half a dozen other projects out asking for funding.
Stay tuned.
Perkins Capital Management Letter
Best informative financial letter I have ever received. Also, these guys have a great sense of humor. They listed 8 "Idiots of the year" and #1 was from a medical student doing rotation in toxicology at the poison control center. A woman called in very upset because she caught her little daughter eating ants. The medical student quickly assured her that ants are not harmful and she didn't need to take her to the hospital. The mother calmed down and at the end of the conversation mentioned that she gave her daughter some ant poison to kill the ants.
Probably voted for Obama, too.
#2 idiot were the Boeing employees who decided to steal a life raft from one of the 747s. Shortly after getting it out of the plant and at home, they took it out for a float on the river. Soon, they noticed a Coast Guard helicopter coming toward them. It turned out that the chopper was homing in on the emergency locator beacon that had activated when the raft was inflated.
They are no longer employed at Boeing. Too bad they will miss out on the "held hostage" union contract Boeing management just signed. Boeing stock price since the contract was signed? In a nosedive.
Probably voted for Obama, too.
#2 idiot were the Boeing employees who decided to steal a life raft from one of the 747s. Shortly after getting it out of the plant and at home, they took it out for a float on the river. Soon, they noticed a Coast Guard helicopter coming toward them. It turned out that the chopper was homing in on the emergency locator beacon that had activated when the raft was inflated.
They are no longer employed at Boeing. Too bad they will miss out on the "held hostage" union contract Boeing management just signed. Boeing stock price since the contract was signed? In a nosedive.
JSEB - Our View - Stevens of Alaska
I'm no fan of Senator Stevens of Alaska (see my blog of 10/27/08) but I know the reason the Republicans reelected Stevens was to maintain at least 60 seats so they can filibuster what many of predict will be some disastrous special interest legislation submitted by the Democrat majority.
The Democrats will find themselves between a "rock and a hardspot". If they expel Stevens from the the Senate, which ethically they should do, the Republicans will fill the seat with another Republican, possibly Governor Sarah Palin, who would then get the "seasoning" MSNBC and many Republicans said she is lacking to be presidential material.(Good grief, think Joe Biden or Nancy Pelosi!).
Hmmmmmmm.
And yes, Blago, if he ran again would be reelected by the Democrats. (Here, again, think Jehan Gordon).
The Democrats will find themselves between a "rock and a hardspot". If they expel Stevens from the the Senate, which ethically they should do, the Republicans will fill the seat with another Republican, possibly Governor Sarah Palin, who would then get the "seasoning" MSNBC and many Republicans said she is lacking to be presidential material.(Good grief, think Joe Biden or Nancy Pelosi!).
Hmmmmmmm.
And yes, Blago, if he ran again would be reelected by the Democrats. (Here, again, think Jehan Gordon).
Saturday, November 08, 2008
A Message to President-Elect Barak Obama
I didn't originate these words but many of us could have written these words of advise to the president-elect:
You cannot strengthen the weak by weakening the strong.
You cannot help small men by tearing down big men.
You cannot help the poor by destroying the rich.
You cannot lift the sage earner by pulling down the wage payer.
You cannot keep out of trouble by spending more than your own income.
You cannot further the brotherhood of man by inciting class hatred.
You cannot establish security on borrowed money ( I add, do not borrow more than you can afford to pay back. All businesses need to borrow money to grow.)
You cannot build character and courage by taking away a man's initiative and independence.
You cannot help men (and women) permanently by doing for them what they could do for themselves.
These quotes are attributed to William J. H. Boetcker in 1916 or probably a couple thousand of others who have spoken or written the same words.
You cannot strengthen the weak by weakening the strong.
You cannot help small men by tearing down big men.
You cannot help the poor by destroying the rich.
You cannot lift the sage earner by pulling down the wage payer.
You cannot keep out of trouble by spending more than your own income.
You cannot further the brotherhood of man by inciting class hatred.
You cannot establish security on borrowed money ( I add, do not borrow more than you can afford to pay back. All businesses need to borrow money to grow.)
You cannot build character and courage by taking away a man's initiative and independence.
You cannot help men (and women) permanently by doing for them what they could do for themselves.
These quotes are attributed to William J. H. Boetcker in 1916 or probably a couple thousand of others who have spoken or written the same words.
Keystone Steel and Wire Company
The company reported profits of approximately $23 million for the last quarter. Read the article in the JS today carefully and you will note the Keystone spokesperson would not say how the economy has affected the company since September 30 nor would he predict earning possibilities in the future.
Caterpillar did report truthfully and their stock dropped significantly.
As to Keystone not commenting, I find interesting. Keystone has a significant loan of taxpayer money being paid on an installment plan to Peoria County. The county has a strong interest in being paid back while helping Keystone retain its local work staff.
Caterpillar did report truthfully and their stock dropped significantly.
As to Keystone not commenting, I find interesting. Keystone has a significant loan of taxpayer money being paid on an installment plan to Peoria County. The county has a strong interest in being paid back while helping Keystone retain its local work staff.
Local Heroes - And Others
Dr. Rida Boulas, Interim Chair and Associate Professor of Clinical Obstetrics and Gynecology at the U. Of I. College of Medicine, a tennis player friend of mine wrote a "Letter to the Editors of the JS" today, titled "Canadian Health Care Has its Drawbacks".
Dr. Boulos has been a champion of patients rights. He informs the general public what is right and what is wrong with our own health care systems in Illinois. He made us aware of tort attorneys using the tort attorneys favorite Madison County as a liberal county to win excessive award cases against medical practitioners, especially those in the Obstetrics and Gynecology field. His article is worth reading twice because a Canadian style health plan may be considered by the new administration headed up by Hillary Clinton and supported by Rahm Emanuel, Chief of Staff, for the president elect. Emanuel was a strong supporter of "Hillary" care, a socialistic health plan back 10-12 years ago during the Clinton days.
Dr. Boulos is a champion of health care rights of doctors and patients.
"Others" is Scott Hultgren of Peoria wrote an easy to forget letter titled " Change doesn't require taking action at the ballot box". Hultgren says "our goal is to encourage community members to create their own changes, not vote for someone who promises change". He says, "by voting, you are supporting a system that gives you a voice every two years. By engaging in direct action, people retain their voice to use for any cause they see fit at any time they wish"????
Interesting. Especially that people NOW use their voices any time they wish and STILL vote.
Dr. Boulos has been a champion of patients rights. He informs the general public what is right and what is wrong with our own health care systems in Illinois. He made us aware of tort attorneys using the tort attorneys favorite Madison County as a liberal county to win excessive award cases against medical practitioners, especially those in the Obstetrics and Gynecology field. His article is worth reading twice because a Canadian style health plan may be considered by the new administration headed up by Hillary Clinton and supported by Rahm Emanuel, Chief of Staff, for the president elect. Emanuel was a strong supporter of "Hillary" care, a socialistic health plan back 10-12 years ago during the Clinton days.
Dr. Boulos is a champion of health care rights of doctors and patients.
"Others" is Scott Hultgren of Peoria wrote an easy to forget letter titled " Change doesn't require taking action at the ballot box". Hultgren says "our goal is to encourage community members to create their own changes, not vote for someone who promises change". He says, "by voting, you are supporting a system that gives you a voice every two years. By engaging in direct action, people retain their voice to use for any cause they see fit at any time they wish"????
Interesting. Especially that people NOW use their voices any time they wish and STILL vote.
Friday, November 07, 2008
Quote of the Week
"Just a few families stepped forward. I think we're losing the sense of being a nation. Losing the sense of being a nation should concern us all. We have fought the war in Iraq as a nation divided. If we are still this divided in the next war, there is a good chance we will be defeated", quoting Jim and Maria Simpson who lost their son Abe, as well as his best friend and cousin Jonathan. Both died fighting in the Habbaniyah-Fallujah corridor.
To the Simpson's it may be little consolation to know that the vast majority did and do support the efforts of those who served honorably in the Mideast. It is little consolation to know that all wars are strewn with blunders and mistakes, but that is no good reason to abandon the mission. Yet, as the American military has adapted continually to overcome its mistakes and the mistakes of its government, American society has become more divided. As Rome and Athens demonstrated two millennia ago, every military, no matter how strong its internal code, eventually mirrors its society.
It was easy to criticize and condemn the Bush Administration for its faults; it is harder to decide how our society can retain sufficient unity to be the world's strongest tribe.
Our recent election was a mirror to our society and the image in the mirror need to change. Obama says he can do that but most of us who voted for McCain did not believe in the "changes" the president-elect advocated nor did we believe that he could "heal this divided country" and that he could lead and also lead his party to work together with Republicans as non-partisan political parties. I do not believe many of the Democrats now in power have the interest for the "common good" at heart and believe many of them will be posturing for re-election when the new administration takes control on January, 9, 2009. And I condemn many Republicans for their abuse of power over the past 8 years and that they work with the party in power, rather than plotting how to get their party back in power in 2010-12.
I do now want to become an Independent and ask that my party not to drive me out. As I've blogged before, unless some major changes are made in the Republican party heiarchy, I will make a personal decision I do not want to make.
Obama has possibly the best opportunity in history to lay partisan politics aside, list the problems by priority and listen to the input of those who have the interest of the entire citizenry. He said race was not involved in the election. That's fine as long as he tells many of his new voters that to have "a chicken in every pot" they are going to have to educate themselves and go to work, accept responsibility, get over the "I'm a victim" mentality and have some attitude adjustments.
Obama has made many promises, many I hope do not come to pass and may not come to pass if he surrounds himself with people who know how to sort out the special interest demands that are saying "me, me, me and I want it now".
I have as I said I would in earlier blogs, give him the opportunity to lead this country. I now wish him well.
As a closing thought in expressing my heartfelt sympathy for the Simpson's and all others who have suffered through the Mideast blunders and successes that "the desire to live in peace does not in itself, provide the means to achieve peace".
The source of much of the material in this blog is credited to "National Review", September 15, 2008 edition.
To the Simpson's it may be little consolation to know that the vast majority did and do support the efforts of those who served honorably in the Mideast. It is little consolation to know that all wars are strewn with blunders and mistakes, but that is no good reason to abandon the mission. Yet, as the American military has adapted continually to overcome its mistakes and the mistakes of its government, American society has become more divided. As Rome and Athens demonstrated two millennia ago, every military, no matter how strong its internal code, eventually mirrors its society.
It was easy to criticize and condemn the Bush Administration for its faults; it is harder to decide how our society can retain sufficient unity to be the world's strongest tribe.
Our recent election was a mirror to our society and the image in the mirror need to change. Obama says he can do that but most of us who voted for McCain did not believe in the "changes" the president-elect advocated nor did we believe that he could "heal this divided country" and that he could lead and also lead his party to work together with Republicans as non-partisan political parties. I do not believe many of the Democrats now in power have the interest for the "common good" at heart and believe many of them will be posturing for re-election when the new administration takes control on January, 9, 2009. And I condemn many Republicans for their abuse of power over the past 8 years and that they work with the party in power, rather than plotting how to get their party back in power in 2010-12.
I do now want to become an Independent and ask that my party not to drive me out. As I've blogged before, unless some major changes are made in the Republican party heiarchy, I will make a personal decision I do not want to make.
Obama has possibly the best opportunity in history to lay partisan politics aside, list the problems by priority and listen to the input of those who have the interest of the entire citizenry. He said race was not involved in the election. That's fine as long as he tells many of his new voters that to have "a chicken in every pot" they are going to have to educate themselves and go to work, accept responsibility, get over the "I'm a victim" mentality and have some attitude adjustments.
Obama has made many promises, many I hope do not come to pass and may not come to pass if he surrounds himself with people who know how to sort out the special interest demands that are saying "me, me, me and I want it now".
I have as I said I would in earlier blogs, give him the opportunity to lead this country. I now wish him well.
As a closing thought in expressing my heartfelt sympathy for the Simpson's and all others who have suffered through the Mideast blunders and successes that "the desire to live in peace does not in itself, provide the means to achieve peace".
The source of much of the material in this blog is credited to "National Review", September 15, 2008 edition.
Thursday, November 06, 2008
A Sharp Lurch to the Left
The night before the election Fred Barnes, executive editor of The Weekly News, wrote the following: "For the first time since the 1960's, (the years of dreams and nightmares) liberal Democrats are dominant. They are all but certain to have a lopsided majority in the House, and either a filibuster-proof Senate. (They didn't quite make it, my comments) If Obama wins today they'll have an ideological ally in the White House.
A sharp lurch to the left and enactment of a liberal agenda, or major parts of it, are all but inevitable. (The inevitable has happened, my comments). The centrist limits in an earlier era of Democratic control are gone. In the short run, Democrats MAY be constrained by the weak economy and a large budget deficit. Tax hikes and massive spending programs, except those bill as "job creation", may have to be delayed.
But much of their agenda--(the Kremlin style, my comment) "card-check" proposal to end secret ballots in union elections, the Fairness Doctrine to stifle conservative talk radio, (Kremlin style, my comment) liberal judicial nominees, trade restrictions, retreat from Iraq, talks with Iran (sure, reason with people who want to kill 50% of Americans, we know the ones Iran would spare, my comments)-these don't require spending".
Don't expect much lag time. The liberal left wing Democrats want to move quickly.
A sharp lurch to the left and enactment of a liberal agenda, or major parts of it, are all but inevitable. (The inevitable has happened, my comments). The centrist limits in an earlier era of Democratic control are gone. In the short run, Democrats MAY be constrained by the weak economy and a large budget deficit. Tax hikes and massive spending programs, except those bill as "job creation", may have to be delayed.
But much of their agenda--(the Kremlin style, my comment) "card-check" proposal to end secret ballots in union elections, the Fairness Doctrine to stifle conservative talk radio, (Kremlin style, my comment) liberal judicial nominees, trade restrictions, retreat from Iraq, talks with Iran (sure, reason with people who want to kill 50% of Americans, we know the ones Iran would spare, my comments)-these don't require spending".
Don't expect much lag time. The liberal left wing Democrats want to move quickly.
Tort Lawyers Score Big-Time
This information was written seven weeks ago. Now that we have a Democrat left leaning government dominating all of Washington, D.C., the tort bar was kicking back and and "tossing off" shots of $125 shots of King Louie in celebration.
By early September, the tort bar had already donated $108 million to the Democrat candidates in key elections. Here are some examples why:
Welcomed by many plaintiff's was the news that tort lawyers are making a big comeback.
Michigan's lawmakers propose repealing safeguards for prescription drug providers.
Maryland wants to revoke medical liability reforms.
Florida entertained the nullification of its joint and several liability reforms.
Colorado's Democrat governor signed a law increasing previous limits on noneconomic damages.
Alabama, last year saw legislation that would allow a tort claim to continue even after the claimant had died.
California proposed authorizing lawsuits for ANY violation of privacy.
New Mexico and New Jersey passed laws authorizing citizens to file "false claims" suits on behalf of the state-in effect turning private individuals into state bounty hunters.
Illinois, Colorado, Washington and Texas considered proposals to increase the size of the awards plaintiffs could claim, and with it attorney's contingency fees.
The tort bar across the country pushed bills to expand "consumer protection" damages and at least three states to allow plaintiffs to claim damages for "emotional harm" when their pets are injured.
In Maryland and Oregon, lawyers successfully shepherded new laws to extend the time in which plaintiffs could file lawsuits.
Expect a lot more lawsuits filed by "people" finding mice tails in their noodle soup, Starbuck coffee burns on their private parts acquired while driving, text messaging, and arguing with their spouse. And lawsuits claiming whiplash suffered from running over a bicyclist or rear-ending a motorcyclist..
I know now I should have never been just a pencil and paper salesman.
We are going to get change, allright. Count on it.
By early September, the tort bar had already donated $108 million to the Democrat candidates in key elections. Here are some examples why:
Welcomed by many plaintiff's was the news that tort lawyers are making a big comeback.
Michigan's lawmakers propose repealing safeguards for prescription drug providers.
Maryland wants to revoke medical liability reforms.
Florida entertained the nullification of its joint and several liability reforms.
Colorado's Democrat governor signed a law increasing previous limits on noneconomic damages.
Alabama, last year saw legislation that would allow a tort claim to continue even after the claimant had died.
California proposed authorizing lawsuits for ANY violation of privacy.
New Mexico and New Jersey passed laws authorizing citizens to file "false claims" suits on behalf of the state-in effect turning private individuals into state bounty hunters.
Illinois, Colorado, Washington and Texas considered proposals to increase the size of the awards plaintiffs could claim, and with it attorney's contingency fees.
The tort bar across the country pushed bills to expand "consumer protection" damages and at least three states to allow plaintiffs to claim damages for "emotional harm" when their pets are injured.
In Maryland and Oregon, lawyers successfully shepherded new laws to extend the time in which plaintiffs could file lawsuits.
Expect a lot more lawsuits filed by "people" finding mice tails in their noodle soup, Starbuck coffee burns on their private parts acquired while driving, text messaging, and arguing with their spouse. And lawsuits claiming whiplash suffered from running over a bicyclist or rear-ending a motorcyclist..
I know now I should have never been just a pencil and paper salesman.
We are going to get change, allright. Count on it.
Socialist Government - Stock Market Down Almost 5%
The stock market welcomed "Obama change" in a big way. Down 9% in last two days. I believe we face the next four years as the most disastrous in the history of our country.
If people had paid attention to something more than a words from a polished demagogue orator, they should have seen it coming. Realize that the Democrats have been in control in Congress since 2006. And now they have complete control with the exception of the Republicans being able to mount a filibuster.
And Jehan Gordon being fondly welcomed by George and Dave (today's JS)to an already disastrous situation in Springfield. Shades of Braun-Mosley or Mosley Braun.
If people had paid attention to something more than a words from a polished demagogue orator, they should have seen it coming. Realize that the Democrats have been in control in Congress since 2006. And now they have complete control with the exception of the Republicans being able to mount a filibuster.
And Jehan Gordon being fondly welcomed by George and Dave (today's JS)to an already disastrous situation in Springfield. Shades of Braun-Mosley or Mosley Braun.
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