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.
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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. š ….and no, I am not being funny either, I am quite serious. š”
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.
āThereās a shocking amount of oil in the deep water, relative to what you see in the surface water,ā 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. āThereās a tremendous amount of oil in multiple layers, three or four or five layers deep in the water column.ā
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. āIf 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,ā she said Saturday. āThat is alarming.ā
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, LeĀ·gal InĀ·surĀ·recĀ· tion, Washington Monthly, AMERICAblog News and Associated Press
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 ā 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 vehiclesā 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.
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?
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 ācompletely unfounded in law and factā and said the firm would āvigorously contest them and defend the firm and its reputation.ā
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 ā the ones he believed were most likely to lose value ā 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.
āThe product was new and complex, but the deception and conflicts are old and simple,ā Robert Khuzami, the director of the S.E.C.ās division of enforcement, said in a statement. āGoldman 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.ā
In response Goldman Sachs says:
The SECās 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. Ā 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. š”
Just remember, Ron Paul believes in negotiating with these bastards. Therefore, he is a terrorist supporter. So are Democrats.
This comes via R.S. McCain:
This Comes via The Other McCain:
Republican Governor’sĀ AssociationĀ HQ
The revolution starts today. What are you doing?
The question also is; do Democrats actually care?
Caterpillar Inc. said the health-care overhaul legislation being considered by the U.S. House of Representatives would increase the company’s health-care costs by more than $100 million in the first year alone.
In a letter Thursday to House Speaker Nancy Pelosi (D-Calif.) and House Republican Leader John Boehner of Ohio, Caterpillar urged lawmakers to vote against the plan “because of the substantial cost burdens it would place on our shareholders, employees and retirees.”
Caterpillar, the world’s largest construction machinery manufacturer by sales, said it’s particularly opposed to provisions in the bill that would expand Medicare taxes and mandate insurance coverage. The legislation would require nearly all companies to provide health insurance for their employees or face large fines.
The Peoria-based company said these provisions would increase its insurance costs by at least 20 percent, or more than $100 million, just in the first year of the health-care overhaul program.
“We can ill-afford cost increases that place us at a disadvantage versus our global competitors,” said the letter signed by Gregory Folley, vice president and chief human resources officer of Caterpillar. “We are disappointed that efforts at reform have not addressed the cost concerns we’ve raised throughout the year.”
Business executives have long complained that the options offered for covering 32 million uninsured Americans would result in higher insurance costs for those employers that already provide coverage. Opponents have stepped up their attacks in recent days as the House moves closer toward a vote on the Senate version of the health-care legislation.
via Caterpillar: Health care bill would cost it $100M – Chicago Breaking Business.
The answer I am afraid, is no. The Democrats have backed themselves into a corner and have overreached. Now they have to deliver. But at what cost? My friends over at the Confederate Yankee have summed it up:
If Obama passes:
- Companies that already pay health insurance will have to pay higher rates, meaning less profitability, higher costs, and fewer jobs
- Companies that don’t currently pay health insurance will have to pay high health insurance rates, meaning less profitability, higher costs, and fewer jobs.
- Companies that cannot withstand the high costs of forced health care will simply shut down.
In all three situations, job lossāor at least the absence of job creationāis a certainty.
The Democrat’s attitude is this; “what do we care? It is not our jobs that will be lost.” Their whole, “For the greater good,” is what is wrong with the whole idea of social engineering and progressive politics. “If a few people lose their jobs, so what? We are doing for those who have not; even if we are stealing it for those who do have.” That I am afraid, is what Progressive Politics and Progressive thought is all about. Take from the rich and giving it to the poor. Economic redistribution; and you know something folks? Every time it is done, somebody, somewhere gets the short end of the stick. Which is what will happen, if this travesty of a bill is passed.
By the way, that whole “For the greater good”, has root in historic Democratic Party politics. As some of you might know, that is the same mentality that the Democrats used to promote the idea of slavery. The idea that, “the Negro man must be contained, for the greater good of society,” was and still is, straight out of the Progressive school of thought.Ā For those who are uninformed, Stephen A. Douglas, who debated President Lincoln in 1858, was, in fact, a Democrat. It was no matter that it was inhuman, morally wrong and quite insane; it was for the greater good and besides, them slaves liked being beaten and forced to work! šĀ Again, more Progressive insanity.Ā “Let’s kill the job market, so everyone can have healthcare!” š
It is quite sad to see, that since 1858, not much has actually changed in the Democratic Party. Oh, sure, they are not longer persecuting blacks; that is because someone finally figured out, that the Democrats could use their votes. So, they give them a little lip service, make promises of more hand outs and proceed to snicker at them behind their backs. All the while ignoring their concerns. That is what Plantation politics is all about. Herd everyone into groups and make them promises, all for their votes.
I think it is about time that the American people woke up and realized that the idea of “for the greater good” is basically for the greater death of America.
Others: Hot Air, GOP Leader Blog, GINA COBB,Ā Maggie’s Notebook and Althouse
I hate to be the one to say it; but, I knew this was coming.
The Hill tells the story:
Newly-seated Republican Sen. Scott Brown (Mass.) on Monday joined Democrats in voting to move forward on their $15 billion jobs bill.
Brown crossed the aisle after Majority Leader Harry Reid (D-Nev.) nixed an $85 billion, bipartisan plan in favor of a more narrowly-focused bill.
āI came to Washington to be an independent voice, to put politics aside, and to do everything in my power to help create jobs for Massachusetts families,” Brown said in a statement. “This Senate jobs bill is not perfect. I wish the tax cuts were deeper and broader, but I voted for it because it contains measures that will help put people back to work.”
Democrats needed to poach Brown and and least one other Republican to reach the 60 votes necessary. Centrist Republican Sens. Susan Collins (Maine) and Olympia Snowe (Maine) also voted for cloture on the proposal.
Reitiring GOP Sens. George Voinovich (Ohio) and Kit Bond (R-Mo.) also voted for cloture.
The reaction across the Blogosphere is mixed:
Don Surber is feeling like a chump:
I feel like a sucker right about now.
Weāve been tea-bagged.
Brown/Biden 2012.
Dr Melissa Clouthier is trying to put on the brave face:
A Twitter friend said that heās still better than Teddy Kennedy. Well. The only reason for a Republican Senator is to stop any sort of spending bills.
[…]
Now, Iām hoping that the next big spending bill that comes along Scott Brown body slams. Thatās unlikely to happen before the midterms in November. Even Democrats are worried about big spending bills right now.
Dan‘s a bit more direct:
When Scott Brown starts crafting national health care legislation, or sounding like the liberal lion of the Senate, get back to me. Until then, it’s Massachusetts. We’re still a long way ahead on the deal.
Michelle Malkin is saying, “I told you so!”:
Yes, sigh, Scott Brown. Looks like he hasnāt taken up my suggested D.C. itinerary. But those of us who knew all along what we were getting ā a game-changer who vowed to torpedo Demcare, but who was not an ideological conservative ā are not surprised. And I pointed out Brownās moderate record several times on Fox and on this blog during the campaign.
….and for a Final Touch, I received this private message from a Joe Santelli on facebook:
WHO CARES WHAT YOU FUCKING THINK….IT IS MA VOTERS WHO COUNT WITH HIM!
Scott Browns closet gay lover maybe? Hmmmm….Obviously, a Democrat. š
Anyhow, this right here is why I was not falling all over myself to support this guy. Somewhere between the tea party movement and the Scott Brown campaign; the message became a bit muddled. What Scott Brown’s idea of real Conservatism is, and what actually fiscal Conservative values are, are obviously two different things. You have to the learn the language of politics, when a candidate says, “I am going to do the will of the people, who voted for me…” and it is regarding a bill that Conservatives traditionally oppose; that usually means that person is going to go against Conservative principles. Also, when someone says, “Well, the Campaign is over now…” and proceeds to change a position, that is usually a good idea that this person is going to break a campaign promise in a big way. It happened with Barack Obama’s Campaign and now it is happening again with Scott Brown. The bad part is, people were suckered into believing the hype on this guy. I always try and look past the hype, and see what the person is really like. Kind of like Ron Paul; once you get past the hype, there’s really not much there.
Ah well, live and learn, I suppose. Maybe the Tea Party movement can learn from this one. That you do not support someone, unless you REALLY know them first.
