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Your Tax Dollars at Work
Sep. 19th, 2008 12:57 pm● My parents said their lights came back on last night. I got the answering machine earlier, so I knew things were good. Several parts of their area are still out, and it will take time before all power is restored in the area. My mom was quite happy that she could start washing clothes again, as she has a bit of an OCD thing with laundry.
● The market crisis has been interesting to see how the government and the presidential candidates have handled it. I find it interesting how much it shows that President Bush really has no real power here. Everything is being done by the Fed Chairman and the Treasury Secretary. Even the Congress is getting upset because these big money decisions are being made without their input. I saw the President blathering along, trying to assure people that the free markets are strong, even though we just federalized a major insurance provider. That’s not a free market, laissez-faire move there, that’s the move of a socialist country. When did Republicans become Democrats?
Obama seems to be keeping his cool, trying to show leadership, but he isn’t making headlines. McCain is making headlines, but more for his gaffes than for his leadership. McCain is trying so hard to look like he’s in charge, it makes mistakes like saying he would, as president, fire the chairman of the SEC (or as he said ones, the FEC, a totally different regulation group), which the president does not have the authority to do, look like he doesn’t know what he is doing. Finally the media is noticing this, and calling him on it.
It’s sad to see McCain try to blame everyone but his own party that was responsible for the de-regulation that caused this problem in the first place. It makes him look like he’s floundering, not trying to lay blame on Bush, or other Republicans, but on the regulators that have been de-clawed by legislation and the businessmen who were allowed to run free as they lobbied for the right to do so. Who’s asleep at the wheel here? It’s hard to say you are going to reform “something” when everyone knows you are cozy with the people, and corporations you’re trying to say are bad. It’s bad to be the insider trying to wear the outsider’s clothing.
Otherwise, the bailout plan looks to be another huge taxpayer-funded band-aid on the problem. Much like the Savings and Loan scandal in the 1980’s (which McCain was also involved in, see the lobbying scandal called The Keating Five – it rarely gets talked about), the government is going to open a clearing house to buy up all the bad debt these investment companies and banks have on their hands. As Chris said today, we’re letting them purge, but we’re not putting these companies on a 12-step program to actually deal with the problem.
It will be interesting to see if either candidate actually proposes real regulations to prevent the return to relying on these leveraged investments that had shaky foundations in the first place.
● I’m glad that I worked last weekend, and not this one. This week has been such a drain, especially with people getting out of stocks only to see that the market is regaining most of its losses. Of course it’s hard to tell people to ride it out, or to convince them not to sell at a low point. Heck, I have enough trouble with holding pat in my 401(k) seeing the losses this year, but I try not to think about it too much.
● Something less political, or financial – this weekend looks to be busy. First for me is trying to get goodies at the “Mobile Pie Hole” – the trailer that ABC is using to promote Pushing Daisies. It will be at the Addison Oktoberfest this weekend. My sister wants a pie cutter that they will be giving away. Hopefully there won’t be a whole line of people waiting to get one.
After that, there’s gay days at Six Flags, along with many other pride weekend festivities here in Dallas. I don’t know about going for the parade, but I know I will go out to the rally on Sunday. Chris has to work, so he may join in later.
Somewhere along the way I need to do laundry. Lots of laundry. That’s one thing I wish my mother still did for me.
● Lastly, I’ve come up with a name of the workplace. The Shooting Gallery. The reason is that the office building is next to a skeet range. It’s far enough off that you don’t here people shouting “pull!” but the actual rifle shots echo off the building. Luckily there are trees in between us, and a few horses. They aren’t shooting towards the building. They do shoot towards I-35E, though.
● The market crisis has been interesting to see how the government and the presidential candidates have handled it. I find it interesting how much it shows that President Bush really has no real power here. Everything is being done by the Fed Chairman and the Treasury Secretary. Even the Congress is getting upset because these big money decisions are being made without their input. I saw the President blathering along, trying to assure people that the free markets are strong, even though we just federalized a major insurance provider. That’s not a free market, laissez-faire move there, that’s the move of a socialist country. When did Republicans become Democrats?
Obama seems to be keeping his cool, trying to show leadership, but he isn’t making headlines. McCain is making headlines, but more for his gaffes than for his leadership. McCain is trying so hard to look like he’s in charge, it makes mistakes like saying he would, as president, fire the chairman of the SEC (or as he said ones, the FEC, a totally different regulation group), which the president does not have the authority to do, look like he doesn’t know what he is doing. Finally the media is noticing this, and calling him on it.
It’s sad to see McCain try to blame everyone but his own party that was responsible for the de-regulation that caused this problem in the first place. It makes him look like he’s floundering, not trying to lay blame on Bush, or other Republicans, but on the regulators that have been de-clawed by legislation and the businessmen who were allowed to run free as they lobbied for the right to do so. Who’s asleep at the wheel here? It’s hard to say you are going to reform “something” when everyone knows you are cozy with the people, and corporations you’re trying to say are bad. It’s bad to be the insider trying to wear the outsider’s clothing.
Otherwise, the bailout plan looks to be another huge taxpayer-funded band-aid on the problem. Much like the Savings and Loan scandal in the 1980’s (which McCain was also involved in, see the lobbying scandal called The Keating Five – it rarely gets talked about), the government is going to open a clearing house to buy up all the bad debt these investment companies and banks have on their hands. As Chris said today, we’re letting them purge, but we’re not putting these companies on a 12-step program to actually deal with the problem.
It will be interesting to see if either candidate actually proposes real regulations to prevent the return to relying on these leveraged investments that had shaky foundations in the first place.
● I’m glad that I worked last weekend, and not this one. This week has been such a drain, especially with people getting out of stocks only to see that the market is regaining most of its losses. Of course it’s hard to tell people to ride it out, or to convince them not to sell at a low point. Heck, I have enough trouble with holding pat in my 401(k) seeing the losses this year, but I try not to think about it too much.
● Something less political, or financial – this weekend looks to be busy. First for me is trying to get goodies at the “Mobile Pie Hole” – the trailer that ABC is using to promote Pushing Daisies. It will be at the Addison Oktoberfest this weekend. My sister wants a pie cutter that they will be giving away. Hopefully there won’t be a whole line of people waiting to get one.
After that, there’s gay days at Six Flags, along with many other pride weekend festivities here in Dallas. I don’t know about going for the parade, but I know I will go out to the rally on Sunday. Chris has to work, so he may join in later.
Somewhere along the way I need to do laundry. Lots of laundry. That’s one thing I wish my mother still did for me.
● Lastly, I’ve come up with a name of the workplace. The Shooting Gallery. The reason is that the office building is next to a skeet range. It’s far enough off that you don’t here people shouting “pull!” but the actual rifle shots echo off the building. Luckily there are trees in between us, and a few horses. They aren’t shooting towards the building. They do shoot towards I-35E, though.
