A possible dicey day on Wall St.

I knew about the problems that were happening over on Wall Street and in the banking world. I was just unaware of just how bad it is.

It turns out, that it is really bad. I mean, really seriously bad!

The Wall Street has a great Video and Story up over on their site.

Here’s the Video:

Quote from WSJ:

The American financial system was shaken to its core on Sunday. Lehman Brothers Holdings Inc. said it would file for bankruptcy protection, and Merrill Lynch & Co. agreed to be sold to Bank of America Corp.
The U.S. government, which bailed out Fannie Mae and Freddie Mac a week ago and orchestrated the sale of Bear Stearns Cos. to J.P. Morgan Chase & Co. in March, played much tougher with Lehman. It refused to provide a financial backstop to potential buyers. Without such support, Barclays PLC and Bank of America, the two most interested buyers, walked away. Barclays said Monday it pulled out of the potential deal after deciding it wasn’t in the best interest of shareholders.
Late Sunday night, Lehman said it intends to file for protection under Chapter 11 of the U.S. Bankruptcy Code with the United States Bankruptcy Court for the Southern District of New York. Lehman said none of the broker-dealer subsidiaries or other subsidiaries of LBHI will be included in the Chapter 11 filing and all of the broker-dealers will continue to operate. Customers of Lehman Brothers, including customers of its wholly owned subsidiary, Neuberger Berman Holdings LLC, may continue to trade or take other actions with respect to their accounts, Lehman said.
On Sunday night, Bank of America struck an all-stock deal to buy Merrill Lynch for $29 a share, or $50 billion.
Though it steered clear of a bailout, the Federal Reserve is expected to take new steps to stabilize the broader financial system. These steps, expected to be temporary, would make it easier for banks and securities firms to borrow from the central bank by using a wider range of collateral. Bankers say these financial institutions might need short-term funds as they unwind their many trading positions with Lehman.

While I do not have anything invested on Wall Street, I know people who do, in fact, my parents have stock options in G.M. So, this may just affect them. I will be watching this story all day today. This Blog is mainly politics, but I also Blog about other news stories of interest. Anyhow, this could trigger panic selling everywhere and could trigger a massive crash of the stock market, rivaling the crash of the 1930’s or at least rivaling the mini-crash of the 1980’s.

I do realize that the FDR did put some protection in our bank system to prevent another major crash, as to just good those protections are, we will see I suppose. I do not claim to be a banking nor financial expert. But I can see the panic in the eyes of those men that made that video. So, I expect a horrible day on the stock market.

Of course, our communist liberals, especially the far left with their anti-capitalist mentality, will be cheering this little misfortune. I’m sure that B. Hussein Obama will be saying stuff like, “They deserve to be punished, for making the little people suffer!” and “It was George W. Bush’s fault that the stock market crashed!”

On the other hand, John McCain will most likely make some rather stupid comment and then blame his time as a P.O.W. on his idiotic gaffe. Like he always does. 🙄

Either way, this story is going to be interesting to follow. Stay tuned.

Update: Michelle Malkin says “The Fit has hit the shan” Indeed. But she also says:

And now is the time where I get to say, “See, I told you so.” From March 17, 2008, as the Bear Stearns bailout was underway:
I warned from the start of stimulus-palooza that we were headed in this direction. Both political parties support these massive government interventions–from empowering judges to meddle with private contracts to backing billions in mortgage securities. This isn’t the last step. It’s the first. And you know who will end up getting screwed: The responsible and the frugal.

True Michelle, But don’t you think that Mr. “Nation of whiners“, has to share some of the blame, because of his lobbying for the deregulation of the housing industry? Which caused all of this in the first place? I think so. What is really known, is the fact that it is going to get a hell of lot worse, before it gets any better. *gulp!*

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Powerful Video

I do wonder if the Obama campaign has seen this or not.

(H/T to Blogwonks)

…..However, I will be fair enough to point out the mistakes.

The Bush Administration admitted that the intelligence that the Bush Administration had, in the leading up to the war, was flat out wrong. Not to mention the “Cherry picking” and stifling of evidence and contrary opinion that surfaced during the lead up the war. Which, in the opinion of this writer, is nothing more than abject fascism.

While I am smart enough to know that this video was not made by the McCain campaign. It does ring at the certain heart string of the American people. However, factually this video falls on it’s face. I agree that the men and women who died in this war, did so believing that they were doing the right thing. However, it does not excuse the fact that mistakes were made. Further more, this video comes across as using our United States Military as some sort of political prop. Which I feel is absolutely sickening.

While this video may be powerful in image and in message. I believe it is a brazen attempt to smear Obama as unpatriotic and inferring that Obama hates our Military persons. That, I am afraid is a bogus lie. I assure you, that if Obama was as nearly as uncaring of our Military personnel as this video infers, he would not even be in the race at all. Because middle America would have never elected him the early primary, if he would have come off as uncaring towards our Military in the primary.

I just do not believe that people are going to buy the subtle message being inferred in this ad, at all. Perhaps in 2004, or even in 2000. But not this time. The country has shifted too much to the left. This because of the many scandals, missteps, and outright blunders by the Government in the last 8 years.

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Post McCain/Plain Speech poll bounce, But what’s it’s term?

Short Term or Long Term? that, my friends, is the question of the hour.

According to the latest Gallop poll, John McCain is taken a nice 5 point lead, above the 2% margin of error, over Barack Obama.

Quote:

John McCain leads Barack Obama, 49% to 44%, in the immediate aftermath of the Republican National Convention, according to the latest Gallup Poll Daily tracking results.
These results are based on Sept. 5-7 interviewing, and are the first in which all interviews were conducted following the completion of the GOP convention. Immediately prior to the convention’s Sept. 1 start, Aug. 29-31 interviewing showed McCain with 43% support among registered voters, compared with 49% today. Thus, Gallup credits McCain with a six-point convention bounce.
That is slightly better than Barack Obama’s four-point bounce from 45% in Aug. 22-24 polling before the Democratic National Convention started to 49% immediately after it concluded. Since 1964, the typical convention bounce has been five percentage points.

Here are the charts:

080908DailyUpdateGraph3_j6n8b4

This really nothing new because there’s been a bounce like this since 1964:

080909DailyUpdateGraph2_j8b6v3

Like I wrote yesterday. the big question is, will this bounce on McCain’s part be short term or long term? I’m sure that John McCain and the Republican Party is betting the farm that the bounce will remain and John McCain will simply glide into the White House. However, this is not 1980 and John McCain is not Ronald Reagan, neither is Sarah Palin, I mean, she’s a good speaker, and kinda cute, for an older Woman, but she’s no Reagan. Plus, the country is in a much different shape; politically and financially, plus, I think it is just a different world, we have two wars, that America wants to just see ended, preferably with good results.

Which leads me to my next point. I simply do not understand why Adam McKay had this Nuclear melt down on The Huffington Post. I mean, let’s not discount the Democratic Party or Barack Obama until the damn polls close on Novemeber 4, 2008, please. We’re very early in this race.

The best advice or comment that I can give, is watch the polls for the next few weeks, is about all I can truly say here. The long term polls will tell the story. I think that if Obama wants to regain his lead, he has to drive the point home the point that the Republican Party IS the Party of George W. Bush. They will have remind Americans of the nonsense of the Bush Administration, on FISA, on the Attorney General scandal, Valerie Plume gate, and on and on…. They need to remind America about John McCain’s ties to lobbyists, even possibly infer that he slept with one, They also need to remind and tell America how Sarah Palin lied about the Jet, her flip-flop on the bridge to nowhere and so on. That is what will win this.

So, the bottom line is:

This is a very early poll and there’s many more to come, before November 4, 2008.

Others: Hot Air, JammieWearingFool, Ace of Spades HQ, and more via Memeorandum

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Bob Barr, The Right Choice for America…..

Bob Barr For President 2008

So far, Bob Barr has raised $836, 686, 52.

Join Bob Barr’s effort to retake America. Donate today

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A movie that every American should watch, before voting

(H/T to AP at Hotair.com)

This movie, if it caught on in the Media would ruin Obama’s chances of being elected President.

Trailer 1:

Trailer 2:

Wow…. I don’t think Barry will have to worry about snipers. He’d better worry about this movie.

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Memo to the Clinton supporters: Will you just get the hell over it already?

Jesus H. freakin’ Christ, this election cycle, for a Blogger like me, is like leading a circular firing squad.

First off, we have Neo-Conservative idiot William Kristol wanting to see nothing short of a floor fight at the Democratic Convention. Oh, I am absolutely sure that Kristol and his gang of Neo-Conservative morons would love nothing more than to see a giant floor fight, complete with (dare I say it?) the assassination of Barack Obama and the chaotic collapse of the Democratic Party into a smoldering heap. This all would be so the Neo-Conservatives could get to John McCain and continue to control Washington D.C. for the next 4 years. Thereby truly continuing the Neo-Conservative agenda in this Country.

Two words Kristol: Keep Dreaming!

If that is not enough to make a man want to take up drinking stiff whiskey, you have former Hillary supporters who are outraged! Outraged, I say! About the fact that Hillary Clinton was not even offered the position of Vice President.

Remember what I said about that circular firing squad? Well, hold on, hope you don’t get dizzy easy.

Listen people, Hillary Clinton, by most accounts, did not even WANT the job of Barack Obama’s Vice President. If she even did, could you freakin’ imagine that vetting process? I mean, people, Bill Clinton took funding from suspected terrorists overseas to build that freakin’ library of his! Not mention the fact that Bill Clinton seriously screwed over a guy, by the name of Peter F. Paul, who was business partners with Stan Lee. Heck, Peter F. Paul has living breathing evidence that Hillary Herself committed a felony during her fundrasing during her senate election campaign.

Not to even mention that if Barry had said, “Okay, forget the vetting, you can be my V.P.” Could you imagine that absolute shit-storm that the far, far, right would have created had Hillary been accepted for the Vice President? You have to know that the far right would have been digging for every last piece of media footage from the Waco compound siege in Waco, Texas and using it for Ads against Obama. Not to mention, The Monica scandal, Travel Gate, White Water, Vince Foster, and the list goes on and on and on and on.

Barack Obama might be a far lefty Liberal, but people, he is no dummy. Yeah, Biden might have a little baggage from a 1988 President campaign when he copied a speech. But honestly, that is absolutely nothing like the baggage that Hillary Clinton comes with. I mean, the two just are not comparable.

To the hardened Hillary supporters, I simply say this. I do not like anymore than you that Hillary lost. I think what the Democrat Party did here in Michigan and in Florida was absolutely wrong. But, unless your Party does something to change the rules of selection for President of United States, there’s nothing that can be done about it. The states moved up their primaries, and the DNC decided to punish them for it. Unless there are rule changes, that is just the way it is. I mean, standing around sucking your thumb and stamping your feet is not going to change a thing. I mean, seriously, do you, as an American citizen want to see four more years of George W. Bush?!?!?! That would be absolutely insane. You all just need to get the hell over it, and hope the Hillary decides to run again in 2012 or 2016. By that time, if Barry is a lame duck by then, Hillary will have a clear shot at the White House. That is, if she has not stroked out or something.

Others on this:
Hot Air, NO QUARTER, NewsBusters.org, Patterico’s Pontifications, Happy Furry Puppy Story … and Balloon Juice and more via Memeorandum

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Brutality beyond words…..In Iraq

Liberals, This is why we cannot fail in Iraq.

CNN.com:

“There are the bloodstains on the wall, and here it is dried on the floor,” Abu Muhanad said as he walked through a torture chamber in a Baghdad mosque where more than two dozen bodies have been found.

“And here, a woman’s shoes. She was a victim of the militia. We found her corpse in the grave.”

Chunks of hair waft lazily across the floor in the hot Baghdad breeze.

“This was the torture room,” said Muhanad, the leader of a U.S.-backed armed group that now controls the mosque.

You see my friends. We simply look at Iraq as a Bush political failure. The Iraqi’s see it as thier reality. If we fail these people, we will pay dearly for a very long time.

Richard Viguerie says "Washington Politicians Again Covering Up True Size of Federal Deficit"

(Manassas, Virginia) Reacting to projections from the Congressional Budget Office (CBO) that the Fiscal Year 2008 federal deficit will be about $400 Billion, the Chairman of ConservativeHQ.com, Richard A. Viguerie, issued the following statement:

“According to CBO, the current fiscal year, which ends on September 30, will end up with a deficit of $400 Billion. While this figure is shockingly high, the truth is that the actually deficit is a lot higher.

“The $400 Billion deficit is based on an accounting fraud called the Unified Budget, in which money borrowed from the Social Security Trust Fund and which is added to the National Debt, is counted as income for the annual budget.

“This kind of trickery by Republicans and Democrats would land officers of publicly held companies in prison.

“When you take the $186 Billion that is being borrowed from Social Security and add it to the $400 Billion deficit that is being acknowledged, you get the real deficit of $586 Billion.

“Raiding the Social Security Trust Fund to finance the general operations of the federal government is a direct attack on the financial security of senior citizens. Trying to cover it up through deception is unconscionable.

“As for Fiscal Year 2009, the Bush Administration projects a deficit of $482 Billion, but that does not include $36 Billion from the Housing Bill, $80 Billion in war costs, and $227 Billion borrowed from the Social Security Trust Fund. The actual deficit next year will be $825 Billion–$343 Billion more than has been acknowledged.

“While the Housing Bill passed late and no one really is sure what the wars in Iraq and Afghanistan will cost, it is inexcusable to pretend that the $227 Billion being borrowed from Social Security is an asset, rather than a debt that must be repaid.

“Republican and Democratic politicians should keep their hands off of Social Security surpluses. And they should start accounting honestly for the money borrowed from the Trust Fund.”

—-

Richard A. Viguerie pioneered political direct mail and has been called “one of the creators of the modern conservative movement” (The Nation magazine) and one of the conservatives of the century” (The Washington Times). His latest book is Conservatives Betrayed: How George W. Bush and Other Big-Government Republicans Hijacked the Conservative Cause (Bonus Books), which, Jerome Corsi wrote in WorldNetDaily, is “destined to become a classic of conservative thinking” and “may be the most important conservative book written in the last quarter century.”

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Something tells me that George W. Bush didn't get the Memo

Video:

Money Quote:

In the 21st century, nations don’t invade other nations.

Ohhhhhh, the Irony of it all….

(H/T Memeorandum)

Editorial: Russia and Democratic Neglect

One of the biggest issues with this Russian/Georgian conflict is the fact that there is a lack of verifiable information. One minute you hear that the conflict has ended and the fighting has stopped the very next, you hear that the fighting is still happening, and that the Russians are not honoring the cease-fire agreement. It is all rather confusing, and it makes for a very frustrated blogger. Because the last thing a blogger wants to be, is wrong.

However, more than that is the lack of the Main Stream Media’s ability to look at this entire conflict in a historical context. Many are pointing to the actions of Ronald Reagan for dissolving the Soviet Union Empire, as being the cause of this conflict. I happen to disagree with that notion. I believe personally that it was the foolish actions of President Harry Truman, that is the cause of this conflict or shall I say the harvest of seeds planted by Harry Truman’s actions.

On December 7, 1941, the empire of Japan attacked the United States naval base in Oahu, Hawaii. This act of brazen hostility brought the United States of America into World War II, despite President Franklin Roosevelt’s pledge to remain neutral in the ever-growing conflict. As history would show, The United States fought the war and finally Hitler was defeated, and Japan surrendered. However, the method used to end the war, is in my opinion the underlying cause of this conflict.

It is a known fact that the United States soundly defeated Hitler by fighting them on the ground and air, using conventional weapons. However, we stopped the war, and to end the conflict with Japan, we used atomic weapons. This I feel was a tragic mistake. This is because Truman was a different kind of a Democrat than Roosevelt. Roosevelt was an “old line” Democrat, who saw the Communist threat, knew what the Communist doctrine was truly about, the repression of freedom and he stood to defeat it. No matter how long it took.

However, Truman was another matter entirely. President Truman represented the “new line” of Democrats who felt that war was unneeded and that peace was a better path. This was a precursor to the “peacenik” Democrats of the sixties. This was evident when President Truman gave his infamous “Military Industrial Complex” speech, at the end of his term. * — See Below With Hitler out of the way, Truman, feeling the ever-increasing pressure to end the war and return the country to pre-war status, devised a plan to end the conflict with Japan.

While using the Atomic bomb might have been an effective means of ending a war, its impact and stain upon the United States would be long ranging, to this very day, is to be considered a very poor decision by the United States. On many websites in Japan, including those in English, denounce America as being brutal for dropping the bomb. However, those who had friends and relatives that died at Pearl Harbor felt that Japan got what it deserved.

It is in the opinion of this writer, that the United States should have fought the war, all the way to Russia, until communism was soundly defeated. Furthermore, The United States of America, should have never dropped the atomic bomb on the empire of Japan, but rather, should have fought that war on the ground, until Japan surrendered. This would have resulted in the total defeat of communism. However, as we all know, this never happened.

Because of this obtuse neglect, the United States of America began a “Cold War” with the empire of the Soviet Union that lasted until a Conservative President, a real conservative President, whom came on the scene in the eighties to plant the seeds that would eventually bring down the soviet empire. However, as we have seen here in the last few days, Russia is not a free and democratic society; it is simply a police state, without the outright communism.

Putin, a man who is sympathetic toward the old soviet empire, filled to the brim with communist doctrine, is wagging his finger in the face of the United States and making a mockery of the supposed democracy in the European continent. This is the harvest of the neglect of the Democratic Party of the forties.*

* Update: Oops! I blew it, Truman did NOT give the military-industrial complex speech, Dwight Eisenhower did. My bad. I blew it, I should have checked. 🙄 But my point about the Democrats and the cold war as it relates to Russia still stands.

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