Quote of the Day

(H/T to Ryan)

“Yes, of course I want to come back to Detroit and work for an auto company after college,” I told a perplexed neighbor at my high-school graduation party. A little background might help.

At the height of the Roaring Twenties, my great-grandfather, living in Rhode Island, was an unemployed immigrant from Quebec. Desperate and looking for a way to achieve the American Dream, he turned to the “Paris of the Midwest” for hope. In a letter to Henry Ford, my great-grandfather said he was a hard worker and wanted to come to Detroit for Ford’s new $5-a-day jobs. Ford wrote him back and hired him; my family planted its roots in Detroit.

My great-grandparents endured the mass layoffs of the 1930s, they became U.S. citizens in Detroit in the 1940s, and they died in Detroit. My grandfather did his time at Ford and moved on to other sectors of the automotive industry. My father currently works for Pacific Insight Electronics, an automotive supplier that deals almost exclusively with Ford.

It was my family’s history with the blue oval that prompted me to choose Ford for my senior project. My former high school offers seniors the opportunity to take the month of May off school to study an industry.

[….]

Participating in an activity for a higher purpose is what Detroit needs if it is to truly reinvent itself. Of course, the poor economy and some poor choices made by the Big Three damaged the city’s status, but there is a lot to learn from companies like Ford. Communication, passion, sacrifice and, most importantly, hard work have reinvigorated Ford. The same traits can help reinvigorate the Motor City.

Although I am going away to college in the fall, to Johns Hopkins University in Baltimore, Md., I believe my professional aspirations will eventually bring me back to the city that made me possible.

Detroit gave my forefathers hope and prosperity; I believe it is my responsibility to return the favor in whatever way I can.

Some words of wisdom from Ronald Reagan

This comes from Blogs for Victory:

….and considering this recent poll; Ronald Reagan was a very smart man…. :D

Sarah Palin needs help with her legal bills

I received this via e-mail:


Dear Pat,

Time is running out.

Since the first frivolous ethics charges were filed against Sarah Palin two years ago, legal bills for the Palin family have mounted into the hundreds of thousands of dollars.

Last year, friends of the family set up the Alaska Fund Trust to help pay legal fees. They used the words “official legal fund” so that supporters would know it was the fund trusted by the Palins.
But now — because Governor Palin used the word “official” —  an independent counsel decided that Sarah Palin “violated” the Alaska Executive Branch Ethics Act when she served as governor of the state.
Funds donated to the Alaska Fund Trust were immediately frozen until the legal challenge was sorted out.
Governor Palin has now agreed to send the money back to the donors. This means that not a single dollar of the trust fund went to pay the Governor’s massive legal fees.
On June 24, 2010 a new legal defense fund — The Sarah Palin Legal Defense Fund — was created to pay these urgent legal bills.
We set up the new fund to cover the Palin’s legal bills for past, present, and future attacks.
The fund has been set up by friends and trusted advisors of Governor Palin.
Let’s help Governor Palin with this incredible burden that no citizen should have to bear and  free her to speak out on behalf of conservatives all across this great country.
Will you help us relieve Governor Palin of this burden?

Pat, as a supporter of Governor Palin, help us with the legal fees stemming from those frivolous charges against Governor Palin.

Yours truly,

Tim Crawford

Trustee

The Sarah Palin Legal Defense Fund


The Sarah Palin Legal Defense Fund | www.SarahPalinLegalDefenseFund.org | info@sarahpalinlegaldefensefund.org

645 G Street | Suite 100 # 711 | Anchorage, AK |  99501

Now, I will tell you this; I was never really a huge Palin fan. But I thought the gal got a raw deal with the liberal media and from idiots that put this Lady through the mill. I am asking those who actually read this blog to help Palin out. Further more, because of hateful bastards like these twits here, I am asking that you double your support for Palin.

The main reason why I even wanted to get involved with this; is this fact right here:

They called it the Alaska Fund Trust, the “official legal fund” for Governor Palin.

In fact, they added the words “official legal fund” so that supporters would know it was not just approved by the family, but that it complied with disclosure requirements, had professional management, created limits on who could donate and how much could be donated, and a variety of other restrictions that made it a very conservative and limited trust.

Further, the word “official” was used to distinguish the Alaska Fund Trust from other legal defense funds that were starting to pop up and no one knew if these would comply with disclosure laws, lobbyist restrictions, etc.

But now – because she used the word “official” – an independent counsel decided that the Trust “violated” the Alaska Executive Branch Ethics Act and now requires the Trust to send back every single donation raised by the defense fund while she was governor.

The left-wing media wants you to think Gov. Palin is an “ethics violator.” But they ignore the actual findings that Gov. Palin acted in good faith and relied on a team of expert trust lawyers to set it up.

They ignore that Gov. Palin stated one overriding principle: if the trust fund could be lawfully set up, she would support it. That is hardly the action of a person bent on skirting the law, contrary to the hysterical commentaries. But they ignore the truth and prefer to propagate lies about Sarah Palin.

They DON’T want you to know:

  • The National Democratic Committee used its Alaska chapter, the Alaska Democratic Party (ADP), to create a website with one stated goal: “Keep Sarah Palin Out of Public Office.” To this day, the Democrats use this website to publicly seek donations for funding bogus “legal challenges involving issues related to Sarah Palin.”
  • The ADP’s “Keep Sarah Palin Out of Public Office” campaign used our own legal system to sponsor more than two dozen ethics complaints against Governor Palin. Out of the 27 complaints, 26 were dismissed!
  • The so-called “independent counsel” who started this investigation was an attorney from President Barack Obama’s law firm.

The money in the Alaska Fund Trust has been frozen and bills gone unpaid.

You see the part up there, that I put in bold, underlined and colored red? That, my friends, is the reason why I even bothered to post this here. This crusade against Sarah Palin is nothing more than a 21 century lynching against a Conservative Christian Woman.  Admittedly, John McCain’s campaign did do some stuff wrong; at least I feel anyway… — but the bulk of blame goes towards the Democrats, who relentlessly hounded this woman to death and still continues to do so.

Which is just one, in a litany of reasons why I will never vote for anyone representing the Democratic Party, ever again.

Now, I ask you; as a Christian, as someone who believes that the Republican Party does, in fact, embrace the Tea Party values and does want to see a strong, secure America. * I ask you to help Sarah Palin pay down these legal bills, so that she can be free to enjoy the rest of her political and personal career, as she sees fit. Please, do not allow these liberal bastards to bring someone like Palin down or allow them to win the battle. Fight back, with the best weapon possible — your pocketbook. I know times are hard; In fact, I am going through tough times myself. But, all donations, no matter how big or how small will help her out.

Thanks for reading. :)

-Patrick

* – Disclaimer: I have never, nor will I ever, be a member or affiliated with the actual Republican National Committee. I have never as much sent them a dime. So, before you call me a Republican, please note this.


The Reality Report #52

If you can get past the tin foil hat sounding stuff in this video —– It is actually pretty good.

Enjoy: (source)

May God Bless Huffington Post for publishing this

This is a very interesting read:

Much has been said in the Cuban regime’s official media about my son Orlando Zapata Tamayo, a young black man. Many lies have been told, and it has been said that my son was a criminal, and that he was not simply allowed to die. The truth is that my son was murdered. The truth is that my son was allowed to die on a hunger strike he held to demand respect for his rights, and to demand freedom for his people. Today, I would like to tell you just who Orlando Zapata Tamayo was: a defender of human rights, and my beloved son.

via Reina Luisa Tamayo Danger: Zapata Lives!.

This article is a very good read, it is truly hard to believe that Huffington Post would actually publish that on a Liberally biased site. After all, are not Liberal Socialists at least sympathetic to the communist cause?

What saddens me, is that the Huffington Post actually advocates the kind of Government that this woman’s son died under; Big Government. Which is, in fact, socialism, which is, one step away from actual communism.

I think it took courage to post that, considering some of the comments on that posting. Which is not too surprising for that crowd.

One the other hand, Huffington Post did crop a photo of the President of Israel to give him devils horns. Which tells me, not everyone over at Huffington Post shares in the ideals of freedom for everyone; including Israel.

Late Night at the PB Pub presents: Johnny Cash

A fitting tune for this fine Holiday, some of you might think this is campy, lame or silly. Let me be clear. I could honestly give a damn….:

Living proof that spending the way out of a recession does not work

Well, looks like my job prospects just got worse:

The train that is the nation’s economic recovery has slowed noticeably, unable to generate enough jobs in the last two months to keep pace with population growth, much less reduce the vast numbers of unemployed Americans.

The United States added just 83,000 private sector jobs in June, according to the monthly statistical snapshot released by the Labor Department. The unemployment rate declined to 9.5 percent, from 9.7 percent in May. But that was a largely illusory decline, as 652,000 Americans left the work force.

Over all, the nation lost 125,000 jobs in June, but those losses came as temporary federal Census workers headed for the exits.

With the economy slowing — housing sales plummeted, while earnings and hours worked ticked downward last month — the stakes grow larger, economically and politically. The next few monthly unemployment reports will unfold during the run-up to the midterm Congressional elections this fall. Incumbents feel particularly precarious, and major economic decisions about financial reform, unemployment benefits, and aid to states still sit on their desks.

via Recovery Slows With Weak Job Creation in June – NYTimes.com.

Think maybe now the Democrats will finally get it? Guess again. (h/t The Other McCain)

Quote:

“Now, let me say that unemployment insurance, we talk about it as a safety net and the rest — this is one of the biggest stimuluses [sic] to our economy. Economists will tell you, this money is spent quickly. It injects demand into the economy and it’s job-creating. It creates jobs faster than almost any other initiative you can name because, again, it is money that is needed for families to survive, and it is spent. So it has a double benefit — it helps those who have lost their jobs, but it also is a job-creator and so, uh, for that reason — for those two reasons at least — it should be passed, and I’m optimistic that it will.”
– Nancy Pelosi, July 1, 2010

Democrats, clueless as usual.

Rick Santelli goes off again: Stop Spending!

This comes via the AmSpec Blog: (HotAir.com)

John Hawkings tells David Frum “Get Bent!”

Now before I report on this one. I have to make the following disclosure; I am in the following Advertising Hives on BlogAds:

BlogAds is a great way to advertise and besides, it helps one of the most important people on this blog… ME! ;) :D :P So, if you’re looking to promote a group, an event or anything else for that matter. I high recommend that you give BlogAds a whirl…

Okay, now that I got that all out of the way. It seems that John Hawkins over at Right Wing News basically told David Frum where to get off and to take short bus to get there:

Ah, I’ve been waiting for this.

You see, I don’t work for Blogads (or Google. Not sure where that came from), but I do indeed run the Blogads Conservative Hive (It’s a great place to buy conservative ads).

In May, someone representing Frum’s blog wrote me (I don’t see the point of dragging his name into it), noted that FrumForum had joined Blogads, and asked to be included in the Hive.

Now, as a general rule, I try to be very open minded about who gets into the Blogads Conservative Hive. If they’re generally friendly to conservatives and seem to have a mostly conservative audience, I don’t mind having them on board. So, aside from conservative blogs, there are Libertarian blogs in the Hive and there are blogs I’d call center-right. It goes without saying that there are plenty of issues where members of the Hive, myself included, don’t see eye-to-eye.

I ca attest to that; I am in the Conservative Hive myself. I do not agree with Hawkings all of the time either. Hell, I was one of the first people that told Hawkings that Chuckie Johnson needed to get the heave ho. But, at the time, he said he wasn’t going to do that. I am quite glad that he reconsidered. But I do still see Chuck Johnson’s Blog Entries in the RSS Feed Ad; for whatever that’s worth.

Hawkings goes to explain the situation and ends with this:

There’s an easy answer to that question: the mainstream media loves “conservatives” and “Republicans” who will trash whomever the Left hates most. So, if you’re willing to talk about how Sarah Palin is a hick, Glenn Beck is a crank, Rush Limbaugh is bad for the country, and the Tea Party is bad for democracy, the mainstream media will reward you  —  and because conservatives pride themselves on being open minded, they’ll all too often give you a pass for your atrocious behavior — especially since the MSM doesn’t insist you play their game all the time. As long as you’re willing to say what they want about the people they hate the most, they’ll reward you with a cover story at Newsweek and then in your off time, you can churn out a few articles to point gullible conservatives towards while you’re trying to guilt them into taking you seriously by crying “epistemic closure!”

This is what David Frum does for a living — and don’t think he doesn’t know it. Even the people who write for him know it. I ran into someone who writes for his blog at an event once. He was extremely defensive about writing for them. I must have heard him tell at least three people, myself included, something akin to, “I write for FrumForum, but please don’t hold that against me.”

Long story short, everybody has to make a living. But, I’m not interested in helping people like Frum play this little game where they try to cripple conservatives publicly while coming around on the back end to milk us for money. If Frum wants to be a dancing monkey for the Left, let them come up with the money to pay for the tune.

Countdown to Frum accusing Hawkings of being an Anti-Semite and this being some sort of plot against the Jooooos by the Conservative right; You know, Debbie Schlussel style…. in 5…..4…..3….2……

Oh and By the way; Hawkings…. You say:

Right Wing News: Alexa Traffic Rank: 48,922

Linkiest: Alexa Traffic Rank: 57,054

FrumForum: Alexa Traffic Rank: 69,535

Well, Um, politicalbyline.com Alexa Traffic Rank: 823,308

..and he says:

well, I’m a peon compared to Ed Morrissey & Allah at Hot Air.

Mr. Hawkings. I know Peons; and you sir, nor your website are peons. I, on the other hand, am a Peon.

That is all… :P

Other Peons, er, um, I mean, people covering: Althouse and Confederate Yankee

You cannot hide your money in Switzerland anymore

If you are wealthy, do not try sending your money to Switzerland anymore. The United States Government will come for it:

The Swiss parliament approved a deal Thursday to help the Internal Revenue Service obtain the names of Americans with secret accounts at Switzerland’s largest bank.

The approval averted a renewed conflict between the U.S. and Swiss governments over bank secrecy. If the deal had collapsed, Swiss banking giant UBS faced the threat of potentially crippling U.S. legal action.

Instead, the breakthrough paves the way for the Swiss government to turn over the names and account details of as many as 4,450 U.S. clients of UBS suspected of using undeclared accounts to hide income and evade taxes.

via Swiss to help IRS identify secret UBS accounts in tax probe.

What is the alternative you ask? Simple. Gold and Silver.

It is a pity that our Government has embraced such blatant attempts at robbery. Socialism is just that, steal from the working to give to the lazy.

Steve Wynn on the State of America

This comes from CNBC: (H/T to James Best on Facebook, who found it on InfoWars.com)

Normally, I would not even credit or link to anything on Infowars, because I happen to believe that Alex Jones is a  rube. But, this was quite good and I think it warranted credit.

The Southern Avenger on American Empire and Israel

Note to all my readers: I am posting these videos here, because I happen to believe in a diversity of opinion and discussion. The opinions expressed in these video should NOT be considered an opinion of the owner of this blog. I simply believe that ALL VOICES, not just a collective few, should be heard in the continuing discussion that is post-Bush Conservative Politics.

—————

Transcript Here

Transcript Here

Ann Arbor, Michigan – The Home of Liberal Reverse Discrimination

Michigan Never ceases to amaze me, how it continues down the slippery slope of liberalism:

(H/T to Duke Over America Via FTR Radio)

Principal Mike Madison - Segregationist-in-Chief

An Ann Arbor elementary school principal used a letter home to parents tonight to defend a field trip for black students as part of his school’s efforts to close the achievement gap between white and black students.

Dicken Elementary School Principal Mike Madison wrote the letter to parents following several days of controversy at the school after a field trip last week in which black students got to hear a rocket scientist.

“In hindsight, this field trip could have been approached and arranged in a better way,” Madison wrote. “But as I reflect upon the look of excitement, enthusiasm and energy that I saw in these children’s eyes as they stood in the presence of a renowned African American rocket scientist in a very successful position, it gave the kids an opportunity to see this type of achievement is possible for even them.

“It was not a wasted venture for I know one day they might want to aspire to be the first astronaut or scientist standing on the Planet Mars.

“I also think it’s important that you know that I have talked to the children who did not go on the field trip, and I think they have a better understanding of the purpose of the AA Lunch Bunch now, as I hope you do. I’m sorry if any kids were upset by the field trip or my discussion afterwards with them, and I have let them know that.

“The intent of our field trip was not to segregate or exclude students as has been reported, but rather to address the societal issues, roadblocks and challenges that our African American children will face as they pursue a successful academic education here in our community.”

A handful of parents have complained to district administrators about the trip, the group and Madison. More than a half-dozen parents contacted AnnArbor.com to raise the complaints, but none would agree to talk on the record, citing concerns of reprisals to their children by Madison.

[…]

District spokeswoman Liz Margolis said after the trip was over, those who went returned to their fifth-grade class and were greeted by boos by those who didn’t go on the trip. Margolis said Madison, who is black, heard the boos, and went to talk to the class. She said he and the class had a “discussion” about race issues.

“He wasn’t yelling at them. He was very passionate about it,” Margolis said.

Parents have complained he was yelling at the class and belittled a Muslim girl who said she also had experienced racism and discrimination.

via Field trip for black students sparks controversy at Ann Arbor elementary school – AnnArbor.com.

On  January 14, 1963 Alabama Governor George Wallace, a Democrat; said the following:

“In the name of the greatest people that have ever trod this earth, I draw the line in the dust and toss the gauntlet before the feet of tyranny, and I say segregation now, segregation tomorrow, segregation forever.”

Democrats have not changed that mindset one iota. Except now, the only people being discriminated or segregated are the White people. This whole idiotic idea that we have to “Celebrate Diversity”, basically means “Be ashamed of your White Skin.” It is the mantra and talking point of the far socialist black liberal Democrat Party. It is the mindset of most blacks, especially Liberal Blacks that those evil White Capitalists are out to oppress the Black man; and to atone for that, blacks must be given special privileges and must be given jobs, ahead of the White Man. (like me, for instance…)

That is what I have to deal with here in the great Liberal State of Michigan. It is no wonder that Michigan went to Obama and McCain left early. McCain was no dummy, he knew what he was doing.

Plumes of Oil Found Under Gulf of Mexico

I am quite shocked that no one, and I mean no one, on my side of the political isle is saying a word about this.

Update: Correction, they are. They are trying to blame Obama. Which is stupid. Obama did not cause this spill. Poor planning and piss poor oversight caused this spill. Stupid far right wingers. I swear. :roll: ….and no, I am not being funny either, I am quite serious. :mad:

Video:

The Story:

Scientists are finding enormous oil plumes in the deep waters of the Gulf of Mexico, including one as large as 10 miles long, 3 miles wide and 300 feet thick in spots. The discovery is fresh evidence that the leak from the broken undersea well could be substantially worse than estimates that the government and BP have given.

“There’s a shocking amount of oil in the deep water, relative to what you see in the surface water,” said Samantha Joye, a researcher at the University of Georgia who is involved in one of the first scientific missions to gather details about what is happening in the gulf. “There’s a tremendous amount of oil in multiple layers, three or four or five layers deep in the water column.”

The plumes are depleting the oxygen dissolved in the gulf, worrying scientists, who fear that the oxygen level could eventually fall so low as to kill off much of the sea life near the plumes.

Dr. Joye said the oxygen had already dropped 30 percent near some of the plumes in the month that the broken oil well had been flowing. “If you keep those kinds of rates up, you could draw the oxygen down to very low levels that are dangerous to animals in a couple of months,” she said Saturday. “That is alarming.”

via Giant Plumes of Oil Found Under Gulf of Mexico – NYTimes.com.

There is only one thing to call this; and that is straight up negligence. Hopefully, President Obama does more than just talk. I do not think that outright banning should be the answer. Stricter guidelines and emergency backup plans should be the requirement. None of these were in place, this is why we are in the spot that we are now. I personally believe that criminal charges ought to be filed against the said parties that are found to be negligent. However, because I am a realist, I know that nothing like will happen. One thing that I have learned from Blogging; first as a left of center, criticizing Bush and his stupidity and then after coming over the “right of center” political position, is that big companies like this and political figures like George W. Bush and his cronies are all above prosecution. They are untouchable. Nothing will come of it, except more Government regulation. Our society is collectivist as a whole now. We punish everyone for the faults of a few. Which is sad. Why not punish those who made the mistake, and then insure it never happens again? But that would make too much sense.

Others: Politics Daily, The Moderate Voice, Firedoglake, msnbc.com, Le·gal In·sur·rec· tion, Washington Monthly, AMERICAblog News and Associated Press

Obama Says: “I do think at a certain point you’ve made enough money”

This is unbelievable.  (H/T HotAir)

Video:

Partial Transcript:

We’re not, we’re not trying to push financial reform because we begrudge success that’s fairly earned. I mean, I do think at a certain point you’ve made enough money. But, you know, part of the American way is, you know, you can just keep on making it if you’re providing a good product or providing good service. We don’t want people to stop, ah, fulfilling the core responsibilities of the financial system to help grow our economy.

The problem is; that was not a part of his prepared remarks, here is what he was supposed to say:

Now, we’re not doing this to punish these firms or begrudge success that’s fairly earned. We don’t want to stop them from fulfilling their responsibility to help grow our economy.

By the way, the radio host is Mark Levin, whom I normally find to be highly annoying; mainly because his voice sounds like the equivalent of dragging a cat backwards through a fan. But, I have to say, that I agree with everything that is said here.

Ed Morrissey, whom I have much respect for, points out the glaringly obvious here:

He should have stuck with the TelePrompter. The President doesn’t get to decide when people have “made enough money.” In fact, as the radio host notes, that’s a statist point of view. Furthermore, the responsibility of an entrepreneur isn’t to “grow our economy,” core or otherwise. It’s to grow his own economy. In a properly regulated capitalist system, the natural tension of self-interests create economic growth through innovation and efficient use of capital and resources.

Put simply, a free people work for themselves, not for the government. Barack Obama seems to have a problem understanding that.

But then again; Marxists usually do. Yesterday, I posted a video by Chris Matthews over at MSNBC basically saying that we should cool it with the Nazi references, when it comes to politics and the Right…and Left. The reason why I say that I agreed with that; is because comparing this President to Adolf Hitler is giving Hitler and this President way too much credit.  Nazism was started because Hitler saw the failures of socialism and sought to improve upon it; a plan the ultimately failed thankfully. This President is just a flat out socialist; he is highly against any sort of unfettered Capitalism at all. I mean, do not misunderstand me here; I am all for seeing the people that capitalized on our economy going down the toilet, having to pay the piper.  But to get in front of people and make a statement like this, is just inexcusable. This might come as a shock to those on the left; I am for Capitalism, but I am not for the reckless greed, that leads to destruction. There is a big difference.

The Bottom Line: The President needs to stick to the teleprompter. Because every time that he goes off of that teleprompter, he exposes himself and that exposure is starting to look very, very ugly.

Update: Others: RedState, Left Coast Rebel, Whiskey Fire, The TrogloPundit, Beltway Confidential, Cassy Fiano, ProfessorBainbridge.com, Neptunus Lex, Confederate Yankee, YID With LID, Animal Farm, Villainous Company, protein wisdom and Pajamas Media

Video: We Will Remember

(H/T HotAir)

Sign the Pledge at We Will Remember.

Stupid: General Motors plays a shell game

Here’s one for the “Stuck on Stupid” file that seems to be getting bigger and bigger by the day.

AP Headline: Gas in the tank: GM repays $8.1B in gov’t loans

Quote:

WASHINGTON – Fallen giant General Motors Co. accelerated toward recovery Wednesday, announcing the repayment of $8.1 billion in U.S. and Canadian government loans five years ahead of schedule.

The Obama administration crowed about the “turnaround” at GM and fellow bailout recipient Chrysler LLC, saying the government’s unpopular rescue of Detroit’s automakers is paying off.

Much of the improvement comes from GM slashing its debt load and workforce as part of its bankruptcy reorganization last year. But the automaker is a long way from regaining its old blue-chip status: It remains more than 70 percent government-owned and is still losing money — $3.4 billion in last year’s fourth quarter alone. And while its car and truck sales are up so far this year, that’s primarily due to lower-profit sales to car rental companies and other fleet buyers.

Chrysler, now run by Italy’s Fiat Group SpA, said Wednesday it lost almost $200 million in the first quarter. But it said it boosted its cash reserves by $1.5 billion, reducing the likelihood that it will need more government aid.

“This turnaround wasn’t an accident of history,” said White House economic adviser Larry Summers. “It was the result of considered and politically difficult decisions made by President Obama to provide GM and Chrysler — and indeed the auto industry — a lifeline, if they could demonstrate the will to reshape their businesses.”

Vice President Joe Biden said President Barack Obama “took a lot of heat” to keep GM alive. “And this has even exceeded our expectations.”

Everything is happy yappy and yippie skippy right?

Wrong.

Jamie Dupree dishes the straight dope on this little shell game: (H/T Q & O)

General Motors will make a big splash in the news today by announcing that the automaker will repay several billion dollars loans from the federal government earlier than expected. But it’s not really coming out of the GM wallet.

The issue came up yesterday at a hearing with the special watchdog on the Wall Street Bailout, Neil Barofsky, who was asked several times about the GM repayment by Sen. Tom Carper (D-DE), who was looking for answers on how much money the feds might make from the controversial Wall Street Bailout.


“It’s good news in that they’re reducing their debt,” Barofsky said of the accelerated GM payments, “but they’re doing it by taking other available TARP money.”

In other words, GM is taking money from the Wall Street Bailout – the TARP money – and using that to pay off their loans ahead of schedule.

“It sounds like it’s kind of like taking money out of one pocket and putting in the other,” said Carper, who got a nod of agreement from Barofsky.

[….]


Most of Uncle Sam’s bailout money that was given to GM has now been turned into stock in the U.S. automaker.

“The assumption is that, over time, hopefully the value of the stock will appreciate,” said Carper.

Long term that could prove to be a money-making investment for the feds – or if things go the wrong way for General Motors – a big, fat loss for Uncle Sam.

As most of you know, my Father is a 31 year veteran of the General Motors company. I find this little idiotic shell game right here to be just plain immoral. I mean, how in the hell are you going to use money from the Government to pay off the Government? That is basically taking money out of one pocket and putting into another. That is not paying off your debt; that is nothing more than a  shell game. The reason why this is so upsetting to me is; that it is just going to hurt my Father. Because sooner or later, this company is not going to be able to pay my Dad’s pension.

As the son of a General Motors worker, I want to see G.M. succeed; but I want to see them succeed the right way and honestly. Not by playing a dirty, underhanded shell game, and that my friends is what this is, a dirty shell game to fool the American people and the workers at G.M. into believing that they are on to the road to recovery, when in all honesty, they are not.

The American Taxpayers, The workers and retirees for General Motors; deserve better than this.

Shame on General Motors for their deceptive tactics and shame on the White House and Yes, the President for aiding and abetting in this little scam.

The real cute part is that not a word of this, has been said in the media, as to just HOW this loans are being paid back. That my friends is a damned human tragedy.

Others: Questions and Observations, Mish’s Global Economic …, TigerHawk, Sweetness & Light, JammieWearingFool and The TrogloPundit

Update: Not surprisingly, Ed Morrissey Agrees with me.

From the Dept of ‘Now why I am not surprised?’

Shocking? Not Hardly.

In Port-Au-Prince, Haiti, there is a police impound lot where dozens of brand-new vehicles sit gleaming in the sun, sporting the logos of aid groups that poured into the city to help in the wake of a devastating earthquake that killed more than 200,000 people and left 1 million homeless.

Haitian police are holding the vehicles for ransom, American aid workers say, demanding exorbitant sums for registration technicalities. The relief workers call it a brazen display — even for a country known to be rife with corruption.

When many of the vehicles were brought into Haiti, as cries rang out from beneath the rubble, there was no Haitian government to register the vehicles. The factory that made license plates, for instance, was destroyed.

But in mid-March, less than two months after the earthquake that registered 7.0 on the Richter scale, Haitian police began to impound vehicles without tags.

Relief groups are given a choice, American aid workers say: Pay a fine of 50 percent of the vehicles’ value, which quickly adds up to tens or hundreds of thousands of dollars for most groups, or wait two to three months for paperwork to be processed.

via Haitian corruption and graft delay earthquake relief efforts, punishes destitute refugees | The Daily Caller

This is what happens when a Constitutional Republic decides to be the “White Knight” of a Socialist Country. You would think that America, its people and Government would have wised up about this already. But, as long as there is a bleeding heart liberal in this Country, we will keep sinking money into that godless pit.

When will America get a clue? When?

Justice: Goldman Sachs sued by the SEC for the Meltdown of 2008

Finally, some justice to these bastards:

Via the NYT:

Goldman Sachs, which emerged relatively unscathed from the financial crisis, was accused of securities fraud in a civil suit filed Friday by the Securities and Exchange Commission, which claims the bank created and sold a mortgage investment that was secretly devised to fail.

The move marks the first time that regulators have taken action against a Wall Street deal that helped investors capitalize on the collapse of the housing market. Goldman itself profited by betting against the very mortgage investments that it sold to its customers.

The suit also named Fabrice Tourre, a vice president at Goldman who helped create and sell the investment.

In a statement, Goldman called the S.E.C. accusations “completely unfounded in law and fact” and said the firm would “vigorously contest them and defend the firm and its reputation.”

The instrument in the S.E.C. case, called Abacus 2007-AC1, was one of 25 deals that Goldman created so the bank and select clients could bet against the housing market. Those deals, which were the subject of an article in The New York Times in December, initially protected Goldman from losses when the mortgage market disintegrated and later yielded profits for the bank.

As the Abacus deal plunged in value, Goldman and a prominent hedge fund made money on their negative bets, while European investors like IKB and ABN Amro lost more than $1 billion, the S.E.C. said.

According to the complaint, Goldman created Abacus 2007-AC1 in February 2007, at the request of John A. Paulson, a prominent hedge fund manager who earned an estimated $3.7 billion in 2007 by correctly wagering that the housing bubble would burst.

Goldman let Mr. Paulson select mortgage bonds that he wanted to bet against — the ones he believed were most likely to lose value — and packaged those bonds into Abacus 2007-AC1, according to the S.E.C. complaint. Goldman then sold the Abacus deal to investors like foreign banks, pension funds, insurance companies and other hedge funds.

But the deck was stacked against the Abacus investors, the complaint contends, because the investment was filled with bonds chosen by Mr. Paulson, who is not named in the suit, as likely to default. Goldman told investors in Abacus marketing materials reviewed by The Times that the bonds would be chosen by an independent manager.

“The product was new and complex, but the deception and conflicts are old and simple,” Robert Khuzami, the director of the S.E.C.’s division of enforcement, said in a statement. “Goldman wrongly permitted a client that was betting against the mortgage market to heavily influence which mortgage securities to include in an investment portfolio, while telling other investors that the securities were selected by an independent, objective third party.”

In response Goldman Sachs says:

The SEC’s charges are completely unfounded in law and fact and we will vigorously contest them and defend the firm and its reputation.

Yeah, sure the accusations are unfounded. If I were a Goldman employee; I would be looking for a new job pronto.

From the SEC Press Release:

The SEC’s complaint alleges that after participating in the portfolio selection, Paulson & Co. effectively shorted the RMBS portfolio it helped select by entering into credit default swaps (CDS) with Goldman Sachs to buy protection on specific layers of the ABACUS capital structure. Given that financial short interest, Paulson & Co. had an economic incentive to select RMBS that it expected to experience credit events in the near future. Goldman Sachs did not disclose Paulson & Co.’s short position or its role in the collateral selection process in the term sheet, flip book, offering memorandum, or other marketing materials provided to investors.

The SEC alleges that Goldman Sachs Vice President Fabrice Tourre was principally responsible for ABACUS 2007-AC1. Tourre structured the transaction, prepared the marketing materials, and communicated directly with investors. Tourre allegedly knew of Paulson & Co.’s undisclosed short interest and role in the collateral selection process. In addition, he misled ACA into believing that Paulson & Co. invested approximately $200 million in the equity of ABACUS, indicating that Paulson & Co.’s interests in the collateral selection process were closely aligned with ACA’s interests. In reality, however, their interests were sharply conflicting.

According to the SEC’s complaint, the deal closed on April 26, 2007, and Paulson & Co. paid Goldman Sachs approximately $15 million for structuring and marketing ABACUS. By Oct. 24, 2007, 83 percent of the RMBS in the ABACUS portfolio had been downgraded and 17 percent were on negative watch. By Jan. 29, 2008, 99 percent of the portfolio had been downgraded.

Investors in the liabilities of ABACUS are alleged to have lost more than $1 billion.

The SEC’s complaint charges Goldman Sachs and Tourre with violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Exchange Act Rule 10b-5. The Commission seeks injunctive relief, disgorgement of profits, prejudgment interest, and financial penalties.

Allow me to humbly submit that I hope that these bastards get exactly what is coming to them. I mean, these guy literally gambled as the stock market and by proxy; our economy went straight into the toilet.   Many people that I know; like my parents, lost a good deal of money on this stuff. Not only that, after the credit crises hit; G.M. ended up having to shed a bunch of expenses; and as a result, my parents lost their optical and dental insurance. That came as a indirect result of this Wall Street mess. So, as far as I am concerned; throw the book at these bastards.

Capitalism is one thing, heartless greed is another; and these bastards crossed that line, big time. :mad:


Movie: Just in case anyone has forgotten

Just remember, Ron Paul believes in negotiating with these bastards. Therefore, he is a terrorist supporter. So are Democrats.

Glenn Beck in Forbes

The Video:

The Story via Forbes:


Five and a half hours before showtime Glenn Beck still isn’t quite sure how he’ll provide tonight’s entertainment, “The Future of History”–two hours of monologue (and answers to preselected questions) before a nearly sellout crowd of 1,000 or so people at the Nokia Theatre in New York City’s Times Square. “But that’s me–I’m the next-event guy,” says Beck, flanked by two bodyguards as he walks the four blocks between the Fox News Channel studio, where he has pretaped the day’s show, and the theater. He won’t have to create tonight’s performance from scratch, since he’s left a long trail of words–millions of passionate, angry, weepy, moralizing, corny, offensive words–in his wake. “The body of work is pretty much the same,” explains Beck, 46. “What I’m trying to do is get this message out about self-empowerment, entrepreneurial spirit and true Americanism–the way we were when we changed the world, when Edison was alone, failing his 2,000th time on the lightbulb.”

At the theater he runs through images that will appear on one of three projectors behind him. There’s David Sarnoff (the NBC founder), Philo Farnsworth (the early television pioneer) and someone Beck can’t quite place but, he assures the handful of staffers dancing around him, will remember by the time the curtain goes up. “Does anyone know how many minutes of high-def TV equal one gigabyte?” Onstage Beck paces like a comic Hamlet, eyes bulging every time he figures out how to weave the props (stalks of corn, a chalkboard, a cockatoo he rented for $750 a night) he has ordered into the monologue.

He could rattle off the overarching themes in a deep sleep. He starts with the construction of the Manhattan skyline, using replicas of the Empire State Building and the Chrysler Building as visual aids. Then he moves on to the birth of radio and TV. Theme: thinking big, creating the American dream. He will work in several plugs for tonight’s featured offering, a Web subscription service called Insider Extreme ($75 a year for behind-the-scenes footage, a fourth hour of his radio show, ten-minute history lessons and so on). “I can multitask like crazy,” says Beck. “I’m riddled with ADD–a blessing and a curse.”

It’s an interesting story. I can relate to the A.D.H.D. I just wish I had Glenn’s money. ;) :P :D

Well, I should say, I wish I was as successful as Glenn is. I do not want HIS money. I’d like my own; and have as much as he does. ;)

About that mine tragedy in West Virginia

I just wanted to post something here to all my readers. I noticed that not too many Bloggers on my side of the political fence have said anything about this.

Well, once again, I will be the one to do it.

Politics is one thing, real life is another.

Losing someone to a tragedy such as this, is unimaginable. Unlike some on the left, I will NOT bring my personal politics into this. But I will say that I personally feel for this people. Mining is in my family too; sort of. My Father is from Middlesboro, Kentucky. Back when he was a young man, he drove a tri-axle dump truck down in his home town. He worked out of a strip mines down in that town. Oh, the stories he would tell, about Hazards of driving those trucks. Some of the stories were side splitting tales, some were quite scary.

Anyhow, my heart goes out to these people during their time of loss. This is where I will also deviate from my normal hard line Conservative stance, and say the following; which most likely will not do anything for my Conservative creds. Not that I quite honestly give a damn about that anyhow.

It would be a crime, if I did not mention the fact that this mine was, in fact, a non-union mine. Because of that, the safety record of this mine, was, in fact, terrible. Unions; for all their short-comings and horrible politics, are the best defense against companies who want to cut corners and allow their employees to work in unsafe conditions. I honestly believe that if the union that my Father was represented by at G.M. had not been there, my Father would have been dead ages ago. For those who are just passing through, my Father is a retired G.M. Worker and is represented by the U.A.W. The Union forces the big business owners to a very high standard of safety and if the companies do not adhere to them, they simply will not allow their employees on the job. Which I feel is a very good thing. Equipment can be replaced —- Human Lives cannot.

There are some possibly of the right, that might say my bringing this up is morbid or something silly like that. Well, too bad. As they say, all politics is local; and this my friends is a local, personal issue for me. One of the nicest things I read, was the fact that even though this mine was non-union, the President of the Union miners was sending a team of people up to the site, to offer their assistance. Because it is the human and responsible thing to do. That is what normal, sane, rational Americans do, when their fellow man is hurting. They put partisan differences aside and come together. I bet some in the world of Political Blogging could learn something from that; on both sides of the aisle.

Again, my and my family’s prayers go out to the people of MONTCOAL, W.Va. tonight.

Update: Video confirming what I wrote above:

Visit msnbc.com for breaking news, world news, and news about the economy

Not everyone is sold on the iPad

Irk! Now this is not a good thing to read:

Gadgets come and gadgets go. The iPad you buy today will be e-waste in a year or two (less, if you decide not to pay to have the battery changed for you). The real issue isn’t the capabilities of the piece of plastic you unwrap today, but the technical and social infrastructure that accompanies it.

If you want to live in the creative universe where anyone with a cool idea can make it and give it to you to run on your hardware, the iPad isn’t for you.

If you want to live in the fair world where you get to keep (or give away) the stuff you buy, the iPad isn’t for you.

If you want to write code for a platform where the only thing that determines whether you’re going to succeed with it is whether your audience loves it, the iPad isn’t for you.

via Why I won’t buy an iPad (and think you shouldn’t, either) – Boing Boing.

I have to give props to Mr. Cory Doctorow for his brutal honesty. The article is quite the good read; from a standpoint of someone, who does not even own a iPod, much less an iPhone! :D I mean, I am just not big into, what I like to call, useless gadgets. To me, a phone is for making phone calls. Not for sitting there and playing games and all the crap you can do on them today. I mean, there is a thing called “Sexting” which is transmitting rather nasty pictures of one’s self over the internet. We never had to contend with stuff like that when I was a kid. (I am 37, by the way…) Besides that, you would not want to be transmitting naked pictures of my body anyhow; as I am almost sure it would cause someone great problems of the psychological sort to see me naked.

Now, from a greedy capitalist’s stand point; if I had a bunch of shares with Apple right about now and I saw this article. I would be asking for this guys head on a platter. I mean, just who the hell does this grumpy old jackass think he is? I am sure that Steve Jobs is not too happy about someone dissing his product, that he’s worked his rear end off to produce. On the other hand, this is just one man’s opinion of this product and I am sure that there are many others who have written that this is an exciting product to try.

The bottom line is this; we live in a free market, capitalistic society, and that free market will decide if this product is a smashing success or if it will be a flop. That is because that Free Market allows the PEOPLE, not the Government, to choose whether a product will be sold or even successful or not. Granted, it will take effort to make this happen; promotion by the company, the sales people and even the customer to buy the product. However the point is….. the freedom of choice is there. You can choose which product you wish to own by apple, all of them or none of them at all. That is the beauty of America. The only thing stopping you is your financial situation and also possibly your personal desire to own such product. Personally, even if I did have the money to own one of these iPads, I most likely would not own one. Because I personally do not see the point in owning such a thing. I have a very nice laptop, which suits my needs perfectly. I also do not see the point in owning something like this, and then having to own a iPhone or something similar, why not just put a camera and the ability to make phone calls in it as well? Again that is wonderful power of personal freedom and choice.

Now I could yammer on here about how the some of the Democrats and the socialists want to do away with all this freedom and change the system we have here in America. But I think everyone that reads this knows my position on those subjects. It also is not lost on me, where this thing is produced and the political positions of some of the people that will own one of these things.  However, I will not bring that into this discussion here, as I am blogging about an iPad. ;) :D :P

Update: Others Talking about the iPad: Pajamas Media, The Confluence, Althouse, Vanity Fair, Bits, Scripting News, VentureBeat and Gawker

Update #2: Message to AllahPundit: Do you really want to be known as the dude who owns a electronic gadget, who’s name basically invokes thoughts of a Electronic Maxi-Pad or Internet Maxi-Pad? Not if you are Beta-Male. I mean, you are already being called a candy-ass Rhino as it is; you do not need anymore help. I’m just sayin’ :P