The Washington Post Promotes Communism

They’re not even trying to hide it anymore.

The U.S. banking system is close to being insolvent, and unless we want to become like Japan in the 1990s — or the United States in the 1930s — the only way to save it is nationalization.
As free-market economists teaching at a business school in the heart of the world’s financial capital, we feel downright blasphemous proposing an all-out government takeover of the banking system. But the U.S. financial system has reached such a dangerous tipping point that little choice remains. And while Treasury Secretary Timothy Geithner’s recent plan to save it has many of the right elements, it’s basically too late.
The subprime mortgage mess alone does not force our hand; the $1.2 trillion it involves is just the beginning of the problem. Another $7 trillion — including commercial real estate loans, consumer credit-card debt and high-yield bonds and leveraged loans — is at risk of losing much of its value. Then there are trillions more in high-grade corporate bonds and loans and jumbo prime mortgages, whose worth will also drop precipitously as the recession deepens and more firms and households default on their loans and mortgages.
Last year we predicted that losses by U.S. financial institutions would hit $1 trillion and possibly go as high as $2 trillion. We were accused of exaggerating. But since then, write-downs by U.S. banks have passed the $1 trillion mark, and now institutions such as the International Monetary Fund and Goldman Sachs predict losses of more than $2 trillion.
But if you think that $2 trillion is high, consider our latest estimates at RGE Monitor, the financial Web site we run: They suggest that total losses on loans made by U.S. banks and the fall in the market value of the assets they are holding will reach about $3.6 trillion. The U.S. banking sector is exposed to half of that figure, or $1.8 trillion. Even with the original federal bailout funds from last fall, the capital backing the banks’ assets was only $1.4 trillion, leaving the U.S. banking system about $400 billion in the hole.

Nationalization is Federal Ownership of a private industry; which is what Communist Russia did during the soviet era. It is Communism. This is the agenda of the Liberal left, the Federal ownership of the banking system. It also sets the United States up for the Biblical Mark of the Beast.

We are living in dangerous times.

From the Bible:

And I stood upon the sand of the sea, and saw a beast rise up out of the sea, having seven heads and ten horns, and upon his horns ten crowns, and upon his heads the name of blasphemy. And the beast which I saw was like unto a leopard, and his feet were as the feet of a bear, and his mouth as the mouth of a lion: and the dragon gave him his power, and his seat, and great authority. And I saw one of his heads as it were wounded to death; and his deadly wound was healed: and all the world wondered after the beast. And they worshipped the dragon which gave power unto the beast: and they worshipped the beast, saying, Who is like unto the beast? who is able to make war with him? And there was given unto him a mouth speaking great things and blasphemies; and power was given unto him to continue forty and two months. And he opened his mouth in blasphemy against God, to blaspheme his name, and his tabernacle, and them that dwell in heaven. And it was given unto him to make war with the saints, and to overcome them: and power was given him over all kindreds, and tongues, and nations. And all that dwell upon the earth shall worship him, whose names are not written in the book of life of the Lamb slain from the foundation of the world. If any man have an ear, let him hear. He that leadeth into captivity shall go into captivity: he that killeth with the sword must be killed with the sword. Here is the patience and the faith of the saints. And I beheld another beast coming up out of the earth; and he had two horns like a lamb, and he spake as a dragon. And he exerciseth all the power of the first beast before him, and causeth the earth and them which dwell therein to worship the first beast, whose deadly wound was healed. And he doeth great wonders, so that he maketh fire come down from heaven on the earth in the sight of men, And deceiveth them that dwell on the earth by the means of those miracles which he had power to do in the sight of the beast; saying to them that dwell on the earth, that they should make an image to the beast, which had the wound by a sword, and did live. And he had power to give life unto the image of the beast, that the image of the beast should both speak, and cause that as many as would not worship the image of the beast should be killed. And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six. (Revelation 13:1-18 KJV)

Others: The Corner, Vox Popoli

Dutch MP refused entry to by the cowardly Government in Britain

This is a disgrace….

The Video and listen to Mr. Wilders stand up to the Liberal BBC’s baiting questions:

The Story:

A Dutch MP who called the Koran a “fascist book” has been sent back to the Netherlands after attempting to defy a ban on entering the UK.
Freedom Party MP Geert Wilders had been invited to show his controversial film – which links the Islamic holy book to terrorism – in the UK’s House of Lords.
But Mr Wilders, who faces trial in his own country for inciting hatred, has been denied entry by the Home Office.
He told the BBC it was a “very sad day” for UK democracy.
The Dutch ambassador was also at Heathrow to make clear his government’s opposition to the ban on Mr Wilders entering the UK.
via BBC NEWS Dutch MP refused entry to Britain.

As far as I am concerned, Britain is nothing more than a Nation of terrorist sympathizers. This is a disgrace and should be held as an example of what America will become if we allow the Liberals in America to have their way. This man put out a video exposing Islam for what it really is and now he is being persecuted for it. Yes, the video was extreme, and yes, the framing of his argument was a bit extreme, but there is a thing called freedom of speech, and his man’s right are being violated.

In the Spirit of freedom of speech, I present, once again, Fitna:

Others: Fausta’s Blog, Riehl World View, Gateway Pundit, Atlas Shrugs and Gates of Vienna

The White House is Hiring – Liberals only need apply

This is pretty funny.

We’re happy to announce that the jobs application feature is now live on WhiteHouse.gov. The Jobs Application feature enables people everywhere to apply to be considered for a political appointment in President Obama’s Administration. You can get to it by clicking on the “Jobs” link at the very bottom of each of the pages on WhiteHouse.gov.
That link will take you to a page which tells you a little bit more about the application process, with a a button at the bottom marked, “Begin Application Form.” That’s where you fill out your information, upload a resume, and tell us what kinds of positions you’re interested in. But a quick heads up – you have to complete the application in one session, and it’s going to take you about 15 minutes to do it. So before you start, you might want to print the Paper Application, gather up the information you’ll need, then sign back in.
via The White House – Blog Post – Apply for a job.

Of course, if you are White, Bitter, Clingy, Anti-Illegal immigration, Conservative type; you need not apply. Only Black, God-Denying, Baby Killing, Gay Enabling, Open border Advocate, Liberals need bother applying.

Video: The Obama Fraud

An Excellent Video…..

(Via Freedom’s Phoenix)

Red State Update on Obama's Stimulus News Conference

Jackie and Dunlap on Obama’s first prime-time news conference. Stimulus pimpin’ and Elkhart bashin’ ensue.

Supreme Court Justice Ruth Bader Ginsburg has pancreatic cancer

This is truly sad. 🙁

Via the AP:

Supreme Court Justice Ruth Bader Ginsburg had surgery Thursday after being diagnosed with pancreatic cancer, the court said.
Ginsburg, 75, had the surgery at the Memorial Sloan-Kettering Cancer Center in New York. She will remain in the hospital for seven to 10 days, said her surgeon, Dr. Murray Brennan, according to a release issued by the court.
The court announcement said the cancer is apparently in the early stages.
In 1999, Ginsburg had surgery for colon cancer and had chemotherapy and radiation treatment. The only woman on the court, she has been a justice since 1993.
The pancreatic cancer was discovered during a routine, annual exam late last month at the National Institutes of Health in Bethesda, Md.
A CAT scan revealed a tumor measuring about 1 centimeter across the center of the pancreas, the court said.
Pancreatic cancer is one of the most deadly cancers: Nearly 38,000 cases a year are diagnosed and overall, fewer than 5 percent survive five years.

You know, politics in one thing, but real life is another. My best wishes and prayers are with the Ginsburg family and with Justice Ginsberg as well.

In the spirit of keeping things civil on this sad subject, I am shutting off comments on this posting. I just don’t need the problems with some idiot leaving an asshat comment.

God Bless the Lady. 🙁

Even more Tax Problems for Obama's Appointments?

This is getting to be a bit of a strange thing!

The husband of President Obama’s choice to head the Labor Department paid about $6,400 Wednesday to settle tax liens that had been outstanding for as long as 16 years against his business, the Obama administration said Thursday.
The disclosure came shortly before a scheduled 2 p.m. meeting of the Senate Health, Education, Labor and Pensions Committee, which will vote on U.S. Rep. Hilda Solis’ nomination as Labor secretary. The hearing was postponed to give the administration time to look into the tax matter and report back to the committee, said Anthony Coley, a spokesman for Sen. Edward Kennedy, the committee chairman. Solis is a California Democrat.
At a news conference, Obama spokesman Robert Gibbs said of Solis: “I read the story in USA TODAY and it quotes somebody who works here. Obviously we know about the story. We reviewed her tax returns and her tax returns are in order. Her husband had an issue.”
via Husband of Rep. Solis, Labor nominee, settles tax liens – USATODAY.com.

Oy. I’m starting to really wonder about Obama selection committee. I mean, is it staffed by monkeys, or just idiotic buffoons? I mean, how the heck hard is it to find out if someone has a tax problem? Really.

Others: TalkLeft, The Swamp, Hot Air, Weekly Standard, The Hill’s Blog Briefing Room, Michelle Malkin, Salon, Glenn Thrush’s Blogs, The Foundry, The Note, TPMDC, Government Bytes and Boston Globe

(via Memeorandum)

Is Obama preparing to send dissenters to prisoner camps?

As a rule, I do not engage in this sort of this speculation. But seeing the way things are going here, it does sound a bit plausible.

Within the last few weeks since Americans witnessed the transition between a Bush Administration to an Obama Administration, some conservatives have noticed an escalation in using the US military and military-style tactics to deal with “national security concerns.” Such actions include use of army troops within US borders and the building of camps designed to house and control American citizens.
For example, in January immediately following the inauguration of President Barack Hussein Obama, Newswithview.com dispatched a reporter to participate in a US Department of Defense press conference.
Armed Forces Press Service representative Donna Miles reported to news reporters, bloggers and Internet journalists that troops from the 3rd Infantry Division’s 1st Brigade Combat Team were deployed to the Naval facility located in Indian Head, Maryland. Their assignment was allegedly to get hands-on training in skills they could depend on to provide “support during a chemical, biological, radiological, nuclear or high-yield explosive incident, known here as a CBRNE.
via NWV News — Is the US Government Preparing to Send Dissenters to Prison Camps?.

It is a interesting report indeed. I mean, I am not totally sold in the idea, but it reeks of the Alex Jones type of nonsense. But, Obama is a far lefty, his birth certificate has still not been released. He does seem be to a far left socialist. I mean, it could be plausible. What is the harm in asking the question?

What do you think? Comments welcomed here, please.

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)

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.