Yeah, it is for kids. But it’s a slow day and I am dying for content. So, here it is.
Tag: Politics
Red State Update: Christian Bale
Quite Funny. (Content Warning)
Living proof that Liberals are just crazy….
Oh yeah, he’s nuts…:
Microsoft founder turned philanthropist Bill Gates released a glass full of mosquitoes at an elite technology conference to make a point about the deadly disease malaria.
“Malaria is spread by mosquitoes,” Gates said while opening a jar onstage at the Technology, Entertainment, Design Conference — a gathering known to attract technology kings, politicians, and Hollywood stars.
“I brought some. Here I’ll let them roam around. There is no reason only poor people should be infected.”
First reported on social networking site Twitter, Facebook’s Senior Platform Manager Dave Morin blogged, “Bill Gates just released mosquitos into the audience at TED.”
Gates then waited a minute or so before assuring the audience the freed insects were malaria-free.
via FOXNews.com – Bill Gates Unleashes Swarm of Mosquitoes on Crowd
Nice, scare the living daylights out of people, to make your moonbat crazy point. What an idiot. I am so glad that this idiot moonbat is not running Microsoft anymore.
Others: Wizbang, JustOneMinute, Gawker and Moe Lane
The Politics of fear again
It seems that President Obama is taking a cue from now former President Bush. Seeing that his so-called and very much pork laden “Stimulus Package” is losing support, Obama took a cue from President Bush and proceeded to publish his speech that he gave yesterday, about the stimulus.
Cue the fear mongering!:
By now, it’s clear to everyone that we have inherited an economic crisis as deep and dire as any since the days of the Great Depression. Millions of jobs that Americans relied on just a year ago are gone; millions more of the nest eggs families worked so hard to build have vanished. People everywhere are worried about what tomorrow will bring.
Because each day we wait to begin the work of turning our economy around, more people lose their jobs, their savings and their homes. And if nothing is done, this recession might linger for years. Our economy will lose 5 million more jobs. Unemployment will approach double digits. Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse.
[….]
In recent days, there have been misguided criticisms of this plan that echo the failed theories that helped lead us into this crisis — the notion that tax cuts alone will solve all our problems; that we can meet our enormous tests with half-steps and piecemeal measures; that we can ignore fundamental challenges such as energy independence and the high cost of health care and still expect our economy and our country to thrive.
I reject these theories, and so did the American people when they went to the polls in November and voted resoundingly for change. They know that we have tried it those ways for too long. And because we have, our health-care costs still rise faster than inflation. Our dependence on foreign oil still threatens our economy and our security. Our children still study in schools that put them at a disadvantage. We’ve seen the tragic consequences when our bridges crumble and our levees fail.
Every day, our economy gets sicker — and the time for a remedy that puts Americans back to work, jump-starts our economy and invests in lasting growth is now.
Wow, Hey Barry, how about 43% of tax paying Americans think that your so-called stimulus bill is a steaming pile of crap; Not just the elitists in Washington D.C., but the rest of America! You know, like the one’s in Kentucky, that are freezing to death? You know, the white conservatives, that didn’t vote for you, because they saw through your stupidity, lies and bullshit? You know, the one’s that you have basically ignored?
Nice try Barry, but your imitation of George W. Bush is quite piss poor.
Others: (Colored according to thier politics): PostPartisan, Townhall.com, The Campaign Spot, Michelle Malkin, Washington Monthly, The Opinionator, The Huffington Post, The Swamp, TalkLeft, Boston Globe, Don Surber, Reason, The Hill’s Blog Briefing Room, TIME.com, AMERICAblog News, The Mahablog, Commentary, The Corner, The Foundry, AmSpecBlog, Gateway Pundit, D-Day, Riehl World View, Fox News, Soccer Dad, The Plum Line, EconoPundit, Economist’s View, Conventional Folly, American Power, Bark Bark Woof Woof, Corrente, The Washington Independent and ECHIDNE OF THE SNAKES
(Via Memeorandum)
Ethics? Democrats? Liberal Media? Surly you jest!
Oh this a tad bit, well, Interesting!
Media Research Center (MRC) President L. Brent Bozell, III has written a letter to ABC News President David Westin calling on him to publicly address and resolve what appears to be a clear violation of journalistic ethics by ABC’s Chief Washington Correspondent George Stephanopoulos. Last week a Politico story broke the news that Stephanopoulos has participated in daily phone strategy sessions with now White House Chief of Staff Rahm Emanuel throughout his tenure at ABC.
Mr. Bozell on Thursday issued a statement demanding an explanation, and calling for Stephanopoulos to recuse himself from reporting on an Obama Administration whose plans and messaging he spends every morning helping to craft. Stephanopoulos has remained silent.
Bozell has now brought the matter directly to Westin, calling on him to either provide evidence that the Politico story is false, or admit and resolve what clearly would be a major violation of journalistic ethics.
via Bozell to ABC President: You Must Publicly Address Stephanopoulos’ Apparent Conflict of Interest.
Maybe the idea that the Liberal Media was in the tank for Obama, is not such a preposterous notion after all!
Others: Flopping Aces, Gateway Pundit and Right Wing News
Quotes of the Day
This is precisely the problem. As credible experts, including some Democrats, have pointed out, much of this “long-term” spending either won’t stimulate the economy now, is of questionable merit, or both.
Obama’s desire to begin a “post-partisan” era may have backfired. In his eagerness to accommodate Republicans and listen to their ideas over the past week, he has allowed the GOP to turn the haggling over the stimulus package into a decidedly stale, Republican-style debate over pork, waste and overspending.
Update on the Kentucky Ice Storm
Michelle Malkin links to a few blogs providing coverage of the ice storm in Kentucky and the piss poor response from FEMA and the fact that “The One” is all but non-existant to the people down there.
I just want to go on record saying that I happen to think that lack of personal response from that “Magic Fool” in the White House is absolutely disgusting. The very idea that he would totally ignore a group of people, because of the possibility that the group of people did not vote for him, is absolutely treasonous!
I also find it amazing that the Liberal Main Stream media is totally ignoring this problem.
But that’s the Liberals for you! 🙄
Rasmussen Poll: Support for Economic Stimulus Support drops to 37%
It seems that the American people are wising up to the underhanded tricks by the Far left wing of the Democratic Party:
Support for the economic recovery plan working its way through Congress has fallen again this week. For the first time, a plurality of voters nationwide oppose the $800-billion-plus plan.
The latest Rasmussen Reports national telephone survey found that 37% favor the legislation, 43% are opposed, and 20% are not sure.
Two weeks ago, 45% supported the plan. Last week, 42% supported it.
Opposition has grown from 34% two weeks ago to 39% last week and 43% today.
Sixty-four percent (64%) of Democrats still support the plan. That figure is down from 74% a week ago. Just 13% of Republicans and 27% of those not affiliated with either major party agree.
Seventy-two percent (72%) of Republicans oppose the plan along with 50% of unaffiliated voters and 16% of Democrats.
via Support for Stimulus Package Falls to 37% – Rasmussen Reports.
I think it is good to see that media and we lowly bloggers, are getting the message out that this so called “Stimulus package” was nothing more than a far left socialist crap sandwich. (Sorry Michelle... ;)) The best we can hope for, is that the Senate strips out all the garbage and keeps in the stuff that might actually work.
Others: Power Line, Townhall.com, Hot Air, The Hill’s Blog Briefing Room, Boston Globe and Flopping Aces
(Via Memeorandum)
Panasonic to eliminate 15,000 Jobs
Another victim of the worldwide economic collapse:
Panasonic on Wednesday said that it was shedding 15,000 jobs, the second significant layoff in Japan’s electronics industry in less than a week, and the latest example of how Japanese companies, exporters in particular, are scrambling to cut costs as demand evaporates.
Panasonic, along with Mitsubishi Motors and Mazda, also joined the rapidly lengthening list of companies to sharply revise their full-year outlooks Wednesday, with Panasonic now projecting a net loss of 380 billion yen or $4.2 billion for the year ending March 31, rather than the 30 billion yen profit it forecast on Nov. 27. Mitsubishi expects a net loss of 60 billion yen and Mazda 13 billion.
The speed of the demand downturn in recent months has taken manufacturers and economists by surprise, and forced many companies to sharply lower profit warnings made only months or even weeks ago.
I hate to sound like I am repeating myself. But this is more damage done by the Clinton Administration and the inaction of the Republican Majority of 2003. The easing of the housing loan regulations is what created all this, thus creating a economic bubble. Which has now burst. Of course, throwing money at it, will not fix it. Now, we have the tech sector taking the hit, because of the downturn in the economy. Expect more of this to come as time goes on.
Senate seeks to Revise Stimulus Bill
This is an encouraging sign:
Senate Democratic leaders conceded yesterday that they do not have the votes to pass the stimulus bill as currently written and said that to gain bipartisan support, they will seek to cut provisions that would not provide an immediate boost to the economy.
The legislation represents the first major test for President Obama and an expanded Democratic Congress, both of which have made economic recovery the cornerstone of their new political mandate. The stimulus package has now tripled from its post-election estimate of about $300 billion, and in recent days lawmakers in both parties have grown wary of the swelling cost.
Moderate Republicans are trying to trim the bill by as much as $200 billion, although Democrats working with those GOP senators have not agreed to a specific figure.
The Senate’s first vote on a stimulus amendment, a failed effort yesterday to add more infrastructure spending to the package, signaled the change in course. For weeks, the measure has grown to meet a worsening economic crisis with the largest possible infusion of government cash. Despite warnings of dire consequences if Congress does not act boldly, Republicans have become resolute in their opposition to what they view as runaway and unnecessary spending in the legislation. And as the total in the Senate version climbs to $900 billion, unease also is stirring among moderate Democrats.
via Senate Lacks Votes to Pass Stimulus – washingtonpost.com.
I am glad to see that the Republicans and some of the more saner elements of the Democratic Party are ridding this Economic Stimulus Bill of unnecessary pork. I think that it is a shame that the Far left wing of the Democratic Party would use this economic downturn to try and further their socialist agenda. I think the voters should remember this when they go to the polls in 2010.
Others: Washington Monthly, Matthew Yglesias, Megan McArdle, Marginal Revolution, Balance of Power, Free exchange, LiberalOasis, The Washington Independent, The Plum Line, Associated Press, Reason, USA Today, Wall Street Journal, The Caucus, The Corner, The Plank, D-Day, Gawker, Wonk Room, Outside The Beltway, AMERICAblog News, Wizbang and Shopfloor
(via Memeorandum)
Dick Cheney Warns of New Attacks
I should have named this “The mad rantings of the Eternal Neo-Con”, But I figured I’d try to be fair.
Video:
The Story:
Former Vice President Dick Cheney warned that there is a “high probability” that terrorists will attempt a catastrophic nuclear or biological attack in coming years, and said he fears the Obama administration’s policies will make it more likely the attempt will succeed.
In an interview Tuesday with Politico, Cheney unyieldingly defended the Bush administration’s support for the Guantanamo Bay prison and coercive interrogation of terrorism suspects.
And he asserted that President Obama will either backtrack on his stated intentions to end those policies or put the country at risk in ways more severe than most Americans — and, he charged, many members of Obama’s own team — understand.
“When we get people who are more concerned about reading the rights to an Al Qaeda terrorist than they are with protecting the United States against people who are absolutely committed to do anything they can to kill Americans, then I worry,” Cheney said.
For the record, I believe that he does have a point about the Gitmo detainees. However, I believe that the mentality that they will attack us right away is wishful thinking on his part.
Are the Democrats secretly attempting to bring back the fairness doctrine?
This is a very dangerous thing, Conservatives and Republicans ought to be raising the roof about this.
Despite the absence of any action pending to re-enact the so-called “Fairness Doctrine,” congressional Republicans have nonetheless introduced legislation to prevent its passage, insisting that Democrats are advancing a quiet agenda to silence conservative talk radio.
Whether Americans realize it or not, say Republican lawmakers, “Free speech is under attack.”
For their part, several Democrats have denied there’s any attempt underway to reestablish the “Fairness Doctine,” insisting the GOP is trumping up paranoia that amounts to “much ado about nothing.”
So which is it?
In 1949 the Federal Communications Commission adopted a policy that required broadcasters to devote airtime to the public interest and to air opposing viewpoints when discussing controversial and political issues. The FCC abandoned the policy in 1987, paving the way for talk radio to explode from fewer than 150 stations nationwide to more than 3,000.
The majority of the country’s talk radio programs are politically conservative, prompting some, as WND has reported, to long for a more “balanced” menu.
“For many, many years, we operated under a Fairness Doctrine in this country,” Sen. Jeff Bingaman, D-N.M., told Albuquerque radio station KKOB last year. “I think the country was well-served. I think the public discussion was at a higher level and more intelligent in those days than it has become since.”
Former broadcaster Rep. Mike Pence, R-Ind., however, sees the policy as an attack on First Amendment rights.
“Bringing back the Fairness Doctrine would amount to government control over political views expressed on the public airwaves,” Pence has said in opposition to the policy. “It is a dangerous proposal to suggest the government should be in the business of rationing free speech.”
via Is there sinister plot to squelch talk radio? — WorldNetDaily.
Let me give you my opinion. That is what Blogs are all about, political opinion and discussion. I believe that the “fairness doctrine,” is nothing more pure communism. Control of free speech in America. FDR instituted it during World War II to control dissent towards the War. It was called Communism at that time, by many Conservatives of that era and it still IS communist in nature as far as I am concerned. The reason I say this, is because it is the same thing that Hitler did in Germany and what the Soviets did in Russia, they controlled freedom of speech to quell dissent. (Yes, I know, Hitler was not a communist!)
However, on a more practical level. I do not believe that the Democrats will succeed in bringing it back. Why? Because the Government does not have the resources to enforce such a law. Heck, the FCC has been cutting down staff since the 1980’s, because the high costs of maintaining the huge staff. Examples, The FCC has basically turned over the examination process of the Amateur Radio Service over to the Amateur Radio community themselves. The enforcement is there, but you have to be doing something rather obnoxious to get a visit from the FCC anymore. The Amateur Radio Service is essentially self policed. So, I seriously doubt that even something like this was even passed, that the FCC would even bother to enforce it. I also believe that it will never get to a vote, because there would be a push back within the FCC to stop it, because of the lack of enforcement funding.
So, while I believe that this is a huge political issue, and that Conservatives everywhere ought to stay on top of it. I just do not believe that one; it will ever pass and two, that the FCC would even bother enforcing it.
India warns that Obama “is barking up the wrong Tree” when it comes to Kashmir
This might present a challenge to the new President:
India has warned US President Barack Obama that he risks “barking up the wrong tree” if he seeks to broker a settlement between Pakistan and India over the disputed territory of Kashmir.
MK Narayanan, India’s national security advisor, said that the new US administration was in danger of dredging up out of date Clinton administration-era strategies in a bid to bring about improved ties between the two nuclear armed neighbours.
“I do think that we could make President Obama understand, if he does nurse any such view, that he is barking up the wrong tree. I think Kashmir today has become one of the quieter and safer places in this part of the world,” Mr Narayanan said in an interview with CNBC TV18.
“It’s possible that at this time there are elements, perhaps in the administration who are harking back to the pre-2000 era.”
The warning comes as Richard Holbrooke, Mr Obama’s special envoy to Pakistan and Afghanistan, prepares to come to the region for the first time in his new capacity. Mr Narayanan is close to Manmohan Singh, India’s prime minister, and Sonia Gandhi, the president of the ruling Congress Party.
It seems that Obama is not going to the force that rights all the wrongs that are in the world after all. This will another in a series of challenges for the new President. I wonder what he will do in response?
(H/T Drudge)
Trackposted to The Virtuous Republic, Rosemary’s Thoughts, Wingless – Alastair Crooke on Gaza & Hamas – living in the twilight zone!, DragonLady’s World, Wingless – Sura 5:32 – When Killing isn’t Murder, Leaning Straight Up, Cao’s Blog, Democrat=Socialist, Conservative Cat, Nuke’s, Allie is Wired, third world county, Faultline USA, Woman Honor Thyself, Wingless – What Lead to Cast Lead, The World According to Carl, Walls of the City, Wingless – Cuba: Beautiful Country, People…Not so Beautiful System…, Rosemary’s News and Ideas, The Pink Flamingo, Wingless, and Right Voices, thanks to Linkfest Haven Deluxe.
Quotes of the Day
Tell me again that “there is nothing we can do about it,” or “it’s God’s
will,” or “Jesus is coming soon.” Better yet, tell it again to the suffering
Christians around the world; tell it again to our Christian forebears; tell
it again to your children and grandchildren who are going to inherit a land
of tyranny and oppression, all because you were too lazy to resist.I know unbelievers who have more character and determination about
preserving liberty than many who call themselves Christians. And I have a
ton more respect for them, too. Our Lord told us, “For unto whomsoever much
is given, of him shall be much required” (Luke 12:48). Yes, Christians in
America have been given the best of both worlds, and many do not even
appreciate it enough to see to it that their own children–their own flesh
and blood–will live to enjoy the same blessings. They are pathetic!So, the next time you hear some piety-draped Christian talking about how he
won’t engage the enemy and fight for liberty, because of prophecy, or some
other spiritually-sounding platitude, just remember, it has nothing to do
with prophecy, or anything of the sort: it has everything to do with
old-fashioned laziness. My feeling toward him is the same as that of Sam
Adams (a fellow Christian) toward the Tories of old: “If ye love wealth
better than liberty, the tranquility of servitude than the animating contest
for freedom–go home from us in peace. We ask not your counsels or arms.
Crouch down and lick the hands which feed you. May your chains sit lightly
upon you, and may posterity forget that ye were our countrymen!” Amen!
and….
Has Obama no more imaginative ideas for government’s role in
reshaping the economy for the 21st century than this? Was it all
talk all along, to prepare the way for a return to the days of
spend and spend?Sad, because this is likely to be Obama’s last shot at getting this
economy on its feet and running by 2010. For Americans are not as
patient as they were in the 1930s, when FDR could try one idea,
then another, then another for five years, and continue to roll up
massive electoral victories.If Obama gets this one wrong, and all this pork and welfare fail to
generate real growth, his party could face a wipeout in 2010, and
his opportunity could be lost forever. Does he really want to bet
the farm on the nag Nancy Pelosi just trotted out of the House?
Ouch: US Loses two major supply lines to Afghanistan
This is not good, at all:
The U.S.-led campaign against the Taliban suffered two logistical blows Tuesday as the president of Kyrgyzstan announced that he’d shut a U.S. airbase in his country and insurgents in Pakistan blew up a bridge, disrupting the main U.S. supply route into Afghanistan.
The developments were the latest reminders of the vulnerability of the long and complex transportation system on which the 60,000 U.S.-led forces in Afghanistan depend for fuel, ammunition, construction materials and a great deal more.
The announcement by Kyrgyzstan President Kurmanbek Bakiyev that he will close the Manas Air Base also gave President Barack Obama a first taste of the challenge he faces from Russia, which is trying to restore its clout in countries that were part of the former Soviet Union.
Bakiyev made his announcement in Moscow, not in his own capital, shortly after the Russian government reportedly agreed to lend Kyrgyzstan $2 billion, write off $180 million in debt and add another $150 million in aid. The timing and place of the announcement indicated the Kremlin’s involvement.
“It’s a direct challenge to the new American administration. Russia is going out of its way to close an American base,” said Pavel Felgenhauer, a Moscow-based military analyst.
via McClatchy Washington Bureau — U.S. supply routes to Afghanistan suffer two huge blows.
I tend to agree with Ed Morrissey who writes:
The problem was never in Krygyzstan. Biden predicted that world leaders would challenge Obama and his inexperience within the first few months of the adminstration, but they’ve already started to line up in the first few days. Iran launched a satellite on an ICBM to show they could go ballistic once they have nuclear weapons. North Korea reportedly has set up another ICBM for a test to threaten Seoul. Now Russia has flipped an ally in the war on terror — and all of this in the first 14 days of Obama’s presidency.
Indeed, I believe this is simply Russia trying to test Obama, to see how he will react. Also, Russia is having problems with it’s people. They are bit angry about the problems with the economy. As I so blogged about yesterday. It could very well be that Putin is attempting to save face with the citizens of Russia by trying to show a little aggression towards Obama and by proxy; America.
Obama: “I screwed up”
This is pretty bad.
“I screwed up,” President Barack Obama told NBC’s Brian Williams Tuesday in the wake of his nominee to be secretary of health and human services, Tom Daschle, withdrawing his name from consideration.
Daschle dropped out after acknowledging that he had belatedly paid more than $128,000 in taxes owed to the federal government.
“Today was an embarrassment for us,” Obama said. He said he was “angry,” “disappointed” and “frustrated with myself” over the Daschle episode.
I guess the whole idea of Obama being the Messiah is basically shot in the butt now, ain’t it?
The Video:
Visit msnbc.com for Breaking News, World News, and News about the Economy
Man, it’s only 2 weeks into his term. Good lord, I’m going to have material for four years.
Breaking Local News – G.M. to offer buyout packages to all union employees.
This is interesting…:
General Motors Corp. will offer buyouts to all of its hourly employees, a spokesman confirmed Tuesday, as the troubled automaker continues to slash costs.
GM spokesman Tony Sapienza said the buyouts will mainly target GM’s 22,000 retirement-eligible hourly employees, though any union employee can take the offer.
News of the buyouts first broke on Monday. A union official told The Associated Press then that GM would offer $20,000 in cash and a $25,000 car voucher for workers who retire early and those who simply leave the company. The official spoke on condition of anonymity because workers were not yet notified of the packages.
via GM To Offer Buyouts To All Hourly Employees — WDIV Detroit.
Just another sign of the times. For the record, G.M. has done this in the past, when times were bad. Hopefully some of the guys that have been with the company and are about ready to retire will take this buy out. Hopefully, this will help the problem and G.M. will become viable.
Daschle is out
Another one bits the dust! I guess I was quite wrong, I thought Daschle would ride it out. I guess not.
Former Senate Democratic Leader Tom Daschle on Tuesday withdrew his nomination to oversee the Health and Human Services Department, just a few hours after another Obama nominee also withdrew.
Both had controveries with taxes.
Earlier Tuesday, Nancy Killefer withdrew as President Barack Obama’s nominee to be the first chief performance officer for the federal government.
via Daschle withdraws Obama nomination – White House- msnbc.com.
While it might be sad, I think it is for the best. If one is going to preach hope and change, it is best to abide by that principle. I believe also it was because of the Democrat backlash as well.
What is it with Democrats and Taxes?
Another Obama appointment, under the bus!
I’m starting to notice a pattern here…:
Nancy Killefer withdrew her candidacy to be the first chief performance officer for the federal government on Tuesday, saying she didn’t want her bungling of payroll taxes on her household help to become a distraction for the Obama administration.
Killefer was the second major nominee to withdraw and the third to have tax problems complicate nominations after President Barack Obama announced he had chosen them.
In a brief letter to Obama, the 55-year-old executive with consulting giant McKinsey & Co. wrote that she had “come to realize in the current environment that my personal tax issue of D.C. unemployment tax could be used to create exactly the kind of distraction and delay” that must be avoided in responding to urgent economic problems.
She offered no further details of her tax difficulties.
via Obama performance chief Killefer out, citing taxes – Yahoo! News.
Man, for a group of politicians who are much keen on taxing the snot out of everyone, the Democrats don’t seem to be very keen on paying them!
Others: Michelle Malkin, Townhall.com, Neptunus Lex, Don Surber, Breitbart.tv, protein wisdom and Outside The Beltway
(via Memeorandum)
Cartoons of the day
Hypnobamic Suggestion?
More at:
More at www.diversitylane.com
Or blog at www.diversitylane.wordpress.com
More at Baloo’s Cartoons Blog
Should we give incentive bonuses to Wall Street Watchdogs?
I have fixed feelings about this, and I will explain why a little further down.
An Article in the New York Times Dealbook Column asks a question whether Wall Street Regulators or Watchdogs should get performance bonuses.
Maybe someone deserves a bonus.
Like someone who sniffs out the next Bernie Madoff. Or jousts with tomorrow’s gonzo bankers. Or defuses the Next Big Crisis in whatever Next Big Thing is dreamed up by Wall Street.
Someone, in short, who regulates.
It is clear that the nation’s financial regulators were no match for Wall Street last time. The financiers were always one step ahead. But maybe that isn’t surprising. The financiers, after all, have a big incentive to outsmart the financial police. It is called a bonus. Wall Street lures a lot of bright minds with money. How can federal agencies compete? They can’t.
So, of course, The Government of Singapore’s head honcho says we ought to incentivize watchdog process.
Tony Tan Keng Yam, deputy chairman and executive director of the Government of Singapore Investment Corporation, suggested that one reason American regulators fell down on the job was that they were paid too little.
“You must have as good people working in the government in the regulatory authorities as those that are working in the private sector,” Mr. Tan said. “You do need, particularly in these very difficult times, capable people in central banks, in government, in the Treasury who can effectively supervise.”
Mr. Tan knows about this firsthand. He is a former regulator himself, and Singapore has a different view about compensation.
“We pay our politicians and our government servants very well,” he said. “We lock remuneration to the market.”
While Singapore’s watchdogs aren’t paid enough to afford private planes, some in top positions make seven-figure salaries.
At first blush, this would seem to be a great idea; however, if you think about it closely, this would not be such a good idea. Because of the following:
Some at Davos thought the bonus idea could work. But anxiety over that approach was palpable. “They already treat us like criminals,” one hedge fund manager said.
A few said giving bonuses to regulators would be like giving bonuses to the police for issuing speeding tickets. Maybe the regulators, like Wall Streeters, would start thinking about the money, rather than what is right. But maybe that’s exactly what Wall Street needs to slow down.
I must say, that I highly disagree with this idea. Why? While I believe that moderate regulation is a good idea on Wall Street; I believe that incentivizing the Wall Street watchdog process will result in a overzealous regulatory process, that will be solely based upon monitory compensation. This would be absolutely disastrous to the free market process in America. As well all know we already law enforcement that borderlines upon a police state. Doing this to Wall Street would cause a fear mentality amongst the financial sector and discourage investment.
We need regulation, not a financial police state.
Groundhog Bites Man?
Some days it does not pay to get out of bed. As Mayor Bloomberg found out.
Mayor Michael Bloomberg paid a visit to an apparently-disgruntled constituent nicknamed ‘Staten Island Chuck’ on Groundhog’s Day — and got bit for his trouble.
Staten Island’s famous groundhog, Charles G. Hogg, inexplicably bit Mayor Bloomberg during his annual holiday ceremony on Monday, drawing blood from the billionaire.
Said Bloomberg spokesman Stu Loeser: “It nicked his hand.”
Bloomberg wrapped the cut with a napkin until he could check with his doctor.
He was told there was no risk of rabies. The 2-year-old animal was born and raised in captivity and has had no interaction with other animals.
I bet that had to smart. Ouch!
Others: Political Machine and Don Surber
New York Times turns on Daschle appointment
Now this is a switch! It seems that the cheerleader section for the Obama Administration has basically thrown one of their own under the bus. How quaint.
Via the Ol’ Gray Lady:
When President Obama nominated former Senator Tom Daschle to be his secretary of health and human services, it seemed to be a good choice. Mr. Daschle, as the co-author of a book on health care reform, knew a lot about one of the president’s signature issues. As a former Senate majority leader, he also knew a lot about guiding controversial bills through Congress, where he remains liked and respected by former colleagues.
Unfortunately, new facts have come to light — involving his failure to pay substantial taxes that were owed and his sizable income from health-related companies while he worked in the private sector — that call into question his suitability for the job. We believe that Mr. Daschle ought to step aside and let the president choose a less-blemished successor.
Mr. Daschle’s tax shortfall is particularly troubling because it comes on the heels of another nominee’s failure to pay taxes due. We were not pleased when the president’s Treasury secretary, Timothy Geithner, admitted that he had failed to pay tens of thousands of dollars in federal self-employment taxes while working for the International Monetary Fund despite having signed paperwork acknowledging the obligation.
Now we are confronted with an even larger lapse by Mr. Daschle, who failed to pay $128,000 in taxes, primarily for personal use of a car and driver provided to him by a private equity firm for which he consulted. Although the firm — headed by a major Democratic donor — had not issued a form 1099 for the value of the car service, Mr. Daschle said he became concerned last June that he might owe taxes on it and instructed his accountant to investigate. Neither was concerned enough to actually pay the taxes.
[……]
In both the Geithner and Daschle cases, the failure to pay taxes is attributed to unintentional oversights. But Mr. Daschle is one oversight case too many. The American tax system depends heavily on voluntary compliance. It would send a terrible message to the public if we ignore the failure of yet another high-level nominee to comply with the tax laws.
[…..]
Mr. Daschle is another in a long line of politicians who move cozily between government and industry. We don’t know that his industry ties would influence his judgments on health issues, but they could potentially throw a cloud over health care reform. Mr. Daschle could clear the atmosphere by withdrawing his name.
I could sit here and tell you, that I am shocked that the New York Times is turning on this appointment. But honestly? I am not, and I will tell you why. Honesty and integrity go a long way in Government. It would be derelict of me, however not to point out that a few other Senators are guilty of the same thing. Like Al Franken and Charlie Rangel for instance. As this article above says, our tax system, as unfair and heavy handed as it might seem to some, does rely heavily on a voluntary compliance. The question is what kind of message does it sent to the American people, if we have tax cheats in our high ranking offices in the United States Government? Not a very good one, I am afraid.
The real question is; will President Obama heed the advice of the New York Times? Something tells me that he will not, because Obama has said in the past, that he is not going to make decisions based upon what other people think. (Kind of like the guy that proceeded him….) So, it will be interesting to watch this unfold. Obama, the man whom basically the New York Times and other Liberal media outlets elected basically tells those same people to stow it and does what he wants to. Now that will make for some interesting blogging!
Update: It is being reported now, by various outlets that Tom Daschle has withdrawn his name.
Others on the subject: Commentary, Hot Air, , Soccer Dad, Power Line, Riehl World View
(Via Memeorandum)
Daniel Larison on Michael Steele
An interesting point of view
Money Quote:
Curious to see what Steele had to say, I watched the interview he gave on FoxNews, and I can’t say I was all that impressed. To what did he attribute the GOP’s political decline over the last two cycles? Naturally, it was spending. That was it. Spending. It’s not just that he didn’t address the GOP’s failures in foreign policy and its errors in anti-terrorism, which I would have been interested to hear, but that this was the only reason he gave, which suggests that he thinks the main solution to GOP woes is to come out against spending (unless, of course, it relates to “defense”).