MAD AS HELL AND...

You say that the Congressional Oversight Panel….(from the New York Times, In U.S. Bailout of A.I.G., Forgiveness for Big Banks)……

“a body charged with reviewing the state of financial markets and the regulators that monitor them, published a 337-page report on the A.I.G. bailout. It concluded that the Federal Reserve Bank of New York did not give enough consideration to alternatives before sinking more and more taxpayer money into A.I.G. “It is hard to escape the conclusion that F.R.B.N.Y. (Federal Reserve Bank of New York) was just ‘going through the motions,’ ” the report said.

About $46 billion of the taxpayer money in the A.I.G. bailout was used to pay to mortgage trading partners like Goldman and Société Générale, a French bank, to make good on their claims. The banks are not expected to return any of that money, leading the Congressional Research Service to say in March that much of the taxpayer money ultimately bailed out the banks, not A.I.G.”

No, it can’t be!  The Federal Reserve Bank of New York favoring the Wall Street Bastards and handing over the American People’s Money to “save the system (System = The Wall Street Bastards Asses)?”  Shocked!  Shocked we are, that the New York Fed would choose to save the Las Vegas Casinos…..Uh…..Wall Street Banks that threw the American Economy into a Great Recession with their outrageous actions! 

Actually, is there anyone on the planet that really believes that the New York Fed is anything but owned lock, stock and barrel by the Wall Street Bastards?  Didn’t think so!

The New York Times story continues…

“Unknown outside of a few Wall Street legal departments, the A.I.G. waiver was released last month by the House Committee on Oversight and Government Reform amid 250,000 pages of largely undisclosed documents. The documents, reviewed by The New York Times, provide the most comprehensive public record of how the Federal Reserve Bank of New York and the Treasury Department orchestrated one of the biggest corporate bailouts in history.

The documents also indicate that regulators ignored recommendations from their own advisers to force the banks to accept losses on their A.I.G. deals and instead paid the banks in full for the contracts. That decision, say critics of the A.I.G. bailout, has cost taxpayers billions of extra dollars in payments to the banks. It also contrasts with the hard line the White House took in 2008 when it forced Chrysler’s lenders to take losses when the government bailed out the auto giant.

As a Congressional commission convenes hearings Wednesday exploring the A.I.G. bailout and Goldman’s relationship with the insurer, analysts say that the documents suggest that regulators were overly punitive toward A.I.G. and overly forgiving of banks during the bailout — signified, they say, by the fact that the legal waiver undermined A.I.G. and its shareholders’ ability to recover damages.

“Even if it turns out that it would be a hard suit to win, just the gesture of requiring A.I.G. to scrap its ability to sue is outrageous,” said David Skeel, a law professor at the University of Pennsylvania. “The defense may be that the banking system was in trouble, and we couldn’t afford to destabilize it anymore, but that just strikes me as really going overboard.”

“This really suggests they had myopia and they were looking at it entirely through the perspective of the banks,” Mr. Skeel said.”

In U.S. Bailout of A.I.G., Forgiveness for Big Banks

Well, DUH! 

Let’s just face facts.  The Wall Street Bastards blew up their own Las Vegas Casinos and the New York Fed with help from the US Treasury came riding to save these Sorry SOBs from themselves with the American People’s $$$$$$$ using the Trojan Horse of “saving AIG” and the Bogus “Financial System” that used to be American’s great capital markets, which are now little more than Unregulated Las Vegas Casinos!

Yes, this all makes perfect sense, but then anyone with a working brain that has been paying attention the last couple of years knows that the “AIG Bailout” was nothing more than the Biggest Train Robbery in the History of the World with the Wall Street Bastards working in conjunction with US Government officials to steal Billions of Dollars from the American People. 

If you don’t understand that basic set of facts then you cannot understand the nonsense that has been going on in Washington DC in recent weeks as the US House and Senate have been working on the Bogus “Financial System Reform” bill.  Actually, absolute nonsense in spades! 

Would you trust any of the above Bastards to watch your dog?  Didn’t think so!  (Then why the Hell trust them with your money?)

The “Financial System Reform” bill is nothing more than Bullshit disguised as Crapola with the Wall Street Bastards making off like bandits again with their “system” in place which is nothing more than a bunch of Ivy League educated dweebs sitting in front of computer screens trading digital paper with each other while they pick the pockets of any hapless American that wanders aimlessly onto their casino…..uh….trading floors.

What is becoming very clear to all Americans is that we have a portion of the US Government that is working with/for the Wall Street Bastards and in direct opposition to the best interests of the American People.  Since it is also clear the US Congress is nothing more than a bunch of toadies that will do whatever the Wall Street Bastards want in life, it is left to the American People to take their government back at the ballot box one Congressional district, US Senate seat and President at a time.

A warning to the SOBs now in “Elected Office” that are working against the American People:  The People of our Great Nation are aroused and we will be damned if we are going to let you Morons destroy our Republic.  Every action taken by Every Elected and Appointed Official could very well be the subject of review in the coming years and that means that lobbyist you sat across from in your office that is funneling thousands of dollars to your campaign may very well become the an issue for Federal Grand Juries made up of the American People sometime in the not too far distant future….

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With a group of US Senators meeting at the White House with President Obama over a “Climate Change” today bill one can only wonder if the Wacko Environmental Nuts that are driving all this Global Warming nonsense will be able to get through their Massive Tax Increase on the American People….

Oh, you thought that a “Climate Change” bill was about “Climate Change?”  Please, you’re not that stupid are you?  Or maybe you are a member of the media elite in Washington DC that wouldn’t know what the Real World was like on the best day of your life.  You see, Washington DC, New York City and Martha’s Vineyard is not the Real World in case you didn’t know it.  The “echo chamber” that the Wacko Environmental Nuts live in, like Fruitcake John Kerry, that believe a 1 degree change in the world’s temperature is significant when the Earth’s temperatures have had massive temperature swings thousands of times before a human even took a step on this planet, leaves them dumbfounded when the American People don’t drop to the ground and lap up all of this Climate Crapola!  No, we are not stupid John Kerry and all of those Buffoons that you spend all your time with wouldn’t know an honest day’s work if it hit them in the ass which is why you actually spend some time with Real Americans for a change!

The Problem exists also at the White House where President Obama has some Wacko Environmental Nuts around him that have never worked a day in their lives off of a college campus, but actually claim to completely know how the Climate of Planet Earth operates, when in fact none of these Bozos have any clue what the temperature will be 1 week from now in Washington DC forget about 50 years down the road.

Now we are told that the Democrats are willing to scale back their energy and climate bill…

“Key Senate Democrats offered, during a White House meeting with President Barack Obama and skeptical Republicans on Tuesday, to scale back their ambitious plans to cap greenhouse gases across multiple sectors of the economy.

Sens. John Kerry and Joe Lieberman told reporters after the 90-minute West Wing meeting that Obama held firm in his calls for a price on greenhouse gases. But they said the president acknowledged that he could agree to a more limited climate and energy bill than any the senators had previously drafted.

“We believe we have compromised significantly, and we’re prepared to compromise further,” Kerry said.

“The president was very clear about putting a price on carbon” and curbing greenhouse gases,  he added.

Lieberman said a couple of Republicans in the meeting promised to keep talking about the prospect of a less-ambitious climate program that includes a price on carbon, though he wouldn’t name names.”

Now we are told that the Democrats are willing to scale back their energy and climate bill…

Please, Senators Lieberman and Kerry, do you really think the American People are stupid?  We know exactly what this entire “Climate Change” bill is really about.

No, the “Climate Change” bill is not about “Saving the World” or any of this other Global Warming nonsense either, but is very simply a MASSIVE TAX INCREASE ON THE AMERICAN PEOPLE and even though these Wacko Environmental Nuts claim that the Trillion Dollar Plus Tax Increase that they are trying to hit the American People over the head with will go to “Clean Energy” projects, we know better! 

We know for sure that all of this money through this proposed MASSIVE TAX INCREASE ON THE AMERICAN PEOPLE will just pour into the Federal Treasury and the Buffoons on Capitol Hill will just waste all that money on Bogus, Useless and Wasteful Government Programs. 

Don’t believe that?  Just look at what the states are doing with the money they are getting from their Bogus Cape and Trade Programs….

“A few weeks ago, 10 Northeastern states held an unusual sort of auction. What the states were selling was credits for carbon emissions. The buyers were electric utilities, who purchased the credits either to allow themselves to send carbon dioxide out the smokestacks of their own power plants, or to re-sell those credits to other utilities.

The auction, a quarterly feature of North America’s only working cap-and-trade regime for greenhouse gases, raised $80.5 million. It was the latest installment of a windfall that the 10 states have largely committed to promoting energy efficiency.

Lately, however, a few of the cash-strapped states have had other designs on the money. The same day as the most recent auction, June 9, New Hampshire lawmakers voted to take all of the state’s expected $3.1 million share of the proceeds and use it to help plug a $295 million budget hole. That move came after New York and New Jersey had staged even bigger raids on cap-and-trade funds. New York transferred $90 million out of a fund of auction proceeds and into its general fund.

The money grabs are creating concern among environmentalists. When the states were putting together the Regional Greenhouse Gas Initiative, or RGGI, back in 2005, each agreed to a memorandum of understanding that at least 25 percent of the auction proceeds would go toward reducing energy usage. Some states went much further than that. New Jersey’s Global Warming Response Act said 80 percent of the money should go toward energy-related causes.

“RGGI is a pretty simple concept,” says Matt Elliott, the Global Warming and Clean Energy Advocate for Environment New Jersey. “We cap pollution, we charge polluters to pollute, and we put the money back into programs that conserve energy.” Elliot says the RGGI raids not only violate the states’ original agreement with each other, but also upend the idea that cap-and-trade was supposed to save ratepayers money on their energy bills in the long run. “It means cap-and-trade will cost money now instead of saving money,” Elliot says.

As Congress debates cap-and-trade legislation of its own, the RGGI raids would seem to confirm the fears of critics. “Cap and trade is the tax that dare not speak its name,” a Wall Street Journal editorial said last year, arguing that utilities would pass the costs of carbon credits through to consumers. Now, with three states stashing extra auction proceeds in their general funds, there’s evidence to support the view that cap-and-trade regimes amount to just another tax.”

Bogus Cape and Trade Programs….

No, the American People are not stupid.  The vast majority of the American People are on to the Con of “Global Warming” and now we are on to the Con of “Cap and Trade” which is really just a MASSIVE TAX INCREASE ON THE AMERICAN PEOPLE tied to creating yet another Las Vegas Casino where speculators can run up the cost of all of our energy instead of just oil and natural gas which the Federal Government now allows to be manipulated by large players that have every incentive to keep energy prices high.  We can only imagine that the Wall Street Bastards are salivating at the thought of creating a “Carbon” Trading Market where they can control the cost of energy across the American Economy and really STICK IT TO ALL AMERICANS and pick our pockets like they are now doing with oil!  Yes, that makes a lot of sense…..  If you are actually working for the Wall Street Bastards which a US Senator from Connecticut that gets lots of $$$$$$$ from hedge funds, banks and traders, but you the Hell aren’t working for the American People! 

No, the American People are not Stupid and that is why the Democrats in Washington DC can take their “Climate Change” bill and shove it where the Sun doesn’t shine!

If on the other hands you Buffoons in Washington DC want to pass a real Energy bill that increases the use of Nuclear Power and Natural Gas in the United States, a bill that will make smart investments in new sources of energy like wind, solar, battery, bio, etc., a bill that will build out a new power grid across the country, a bill that will actually regulate the Bastard companies like BP that drill offshore where we will need to get oil from for decades to come, then the American People are ready to do a deal. 

If you just want to pass a bill based upon the Bogus idea of Global Warming and a MASSIVE TAX INCREASE ON THE AMERICAN PEOPLE, we think you know where you can go!

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You say that the US Supreme Court has reaffirmed that the 2 nd Amendment to the US Constitution guarantees that Americans have the right to beat arms?

Well…..DUH!

As Thomas Sowell so eloquently writes…

Judges, the Constitution & Gun Control Laws 

“Now that the Supreme Court of the United States has decided that the Second Amendment to the Constitution means that individual Americans have a right to bear arms, what can we expect?

Those who have no confidence in ordinary Americans may expect a bloodbath, as the benighted masses start shooting each other, now that they can no longer be denied guns by their betters. People who think we shouldn’t be allowed to make our own medical decisions, or decisions about which schools our children attend, certainly are not likely to be happy with the idea that we can make our own decisions about how to defend ourselves.

When you stop and think about it, there is no obvious reason why issues like gun control should be ideological issues in the first place. It is ultimately an empirical question whether allowing ordinary citizens to have firearms will increase or decrease the amount of violence.

Many people who are opposed to gun laws which place severe restrictions on ordinary citizens owning firearms have based themselves on the Second Amendment to the Constitution. But, while the Supreme Court must make the Second Amendment the basis of its rulings on gun control laws, there is no reason why the Second Amendment should be the last word for the voting public.

If the end of gun control leads to a bloodbath of runaway shootings, then the Second Amendment can be repealed, just as other Constitutional Amendments have been repealed. Laws exist for people, not people for laws.”

Judges, the Constitution & Gun Control Laws

Well written Mr. Sowell.  Very well written….

The amazing thing is the Liberal Weenies and Clueless Leaders of some cities that think banning guns is going to do anything to stop violent crime in the streets.

Earth to the Liberal Weenies:  It’s not The Gun You Morons!  It’s the Criminals Firing the Guns!

Do the Liberal Weenies and Clueless City Leaders really want to stop crime in their cities?  Oh, that’s very easy….

Throw criminals that commit violent crimes in jail and KEEP THEM THERE!

In fact, the law of the land should be that if you commit a crime with a gun that you automatically get…

10 years of HARD LABOR IN PRISON!

Note:  That is 10 YEARS OF HARD LABOR IN PRISON!

If you commit a violent crime and wound or kill someone with a gun then you automatically get…

30 years of Prison with 20 YEARS OF HARD LABOR!

Just make sure that the local TV stations send someone out to the Hard Labor farms several times a year and broadcast what a bitch it is to work 8 hours a day doing HARD LABOR instead of laying around a prison watching television and guess what….

GUN CRIME WILL END IN AMERICA!

Will the Liberal Weenies and Clueless Leaders of Cities support such a policy of throwing violent criminals in jail and making them do HARD LABOR all day? 

Not a chance in Hell because Liberal Weenies and Clueless Leaders of cities actually enjoy having violent criminals commit crimes against The People.  Raping, Pillaging, Assaulting, Murdering, Mugging and other Violent Crimes are actually thought of by Liberal Weenies and Clueless Leaders of big cities to be right of citizenship for violent criminals that are actually little more than animals.  Once these violent criminals, that are little more than animals, commit violent crimes the Liberal Weenies and Clueless Leaders of big cities do everything in their power to restrict their prison sentences and get them back out of jail as fast as possible so they can get back into communities to continue their attack on American citizens.

The Bottom-Line:  Liberal Weenies and Clueless Leaders of big cities rather enjoy American citizens getting attacked by violent criminals and thus they believe that taking guns from law abiding Americans and allowing criminals to get guns in illegal ways is the Bizzarro-World that these morons live in.

As the Founding Father of the American Republic, George Washington, once said:

“Firearms are second only to the Constitution in importance; they are the peoples’ liberty’s teeth.”  George Washington

It’s not the gun you Morons!  It’s the Violent Criminals that are committing crimes with guns against the American People and if the Government would start throwing these animals in prison and keeping there and also have them do Hard Labor then we could start to solve the problem of crime in American Society.

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Amity Shlaes, author of The Forgotten Man and Bloomberg.com columnist…

….flushes out the real motives of George Soros when he criticizes Germany and other countries for shoring up their balance sheets.  Is George Soros really trying to save Europe or is he just shorting the Euro and is hoping to Turn a Buck (or Euro?) by encouraging Germany and other European countries to take on more debt and thus make their currency more vulnerable to the Bastards like Soros that have nothing to do but sit in front of computer screens all day and trade digital paper….  Ms. Shlaes:

Soros Talking Obama’s Book in Threat to Euro

“George Soros has been making what he calls a “grave accusation” against Germany. The financier- philanthropist said last week that Germany is endangering the European Union by keeping wages down and pursuing a balanced national budget too aggressively. Germany’s parsimonious attitude, Soros suggests, may bring down the euro.

You get the feeling that Soros is speaking directly to Angela Merkel, trying to give the German chancellor a kindly tutorial. In a speech at Humboldt University, Soros said that Germany had understandable reasons for pursuing thrift. But, he added, the country should spend more and advocate aggressive spending and looser money by the European Investment Bank and the European Central Bank, respectively.

Soros implied that Germany should look to the U.S., where President Barack Obama has spent vigorously and Federal Reserve Chairman Ben Bernanke has created money for the greater good. Soros, the tutor again, underscored that Germany clearly “does not know what it is doing.”

It is time to turn the question around, and make a grave accusation against Soros. It is Soros who is endangering the euro by advocating these spending and loosening policies. They are policies that may give Europe budget problems that render its currency vulnerable to attack by Soros-like traders. Perhaps, like Merkel, Soros is doing his endangering for understandable reasons. Nonetheless, the danger is there, and worth laying out.”

Oh, that’s very perceptive about George Soros and the other traders around the world that rather like the Morons like the folks in the US Congress that pile up debt and create programs that the United States has no chance of ever paying for because…THE MONEY IS JUST NOT THERE!

Amity Shlaes continues…

“The Keynesian argument that the choice is binary, between spending and pain, is untrue. For one thing, deflation isn’t always painful — in the 1920s, even as Germany agonized, the U.S. thrived during an American deflation. Budget tightening, especially in combination with competitive tax codes, may put all Europe on a growth path that renders its currency a true competitor for the role of global leader over the long run.

The best defense of Soros is that Soros-recommended stimuli by Germany and in euro-land will indeed yield strong growth, and prevent one recession, just as he says. But what happens after that recovery? Europe, like the U.S., isn’t growing fast enough to continue spending its way out of every recession. It is likely that German-tolerated euro-spending on a big scale in 2010 or 2011 would render Europe’s nations the very sort that vulnerable currency traders specialize in annihilating.

The Obama administration for its part is being disingenuous when it makes spending recommendations. As my colleague Sebastian Mallaby at the Council on Foreign Relations notes, the dollar’s status as the currency of reserve amounts to a sort of Kevlar vest against the bullets of currency raiders. The euro possesses no vest.

Soros wants to help the Obama administration and the Keynesian spending that Democrats favor. If Europe spends, that makes the U.S. look less isolated. A big spending Europe also makes the euro less of a threat to the dollar. In any case, it is hard to imagine that what Soros alleges about Germany is true for Soros: that he just doesn’t understand what he is doing.”

Soros Talking Obama’s Book in Threat to Euro

Amen to that Ms. Shlaes!  The problem with the “We Must Spend More Money to Save the World Crowd” is that they do not understand, since most of them have not worked a day in their lives in the private sector and have never fired or hired anyone for that matter, is that when the Government spends money it must often finance that spending with debt and all that debt soaks up money that could be spent a lot better in the private sector to fund new businesses and create new jobs. 

The Bozos over at The Federal Reserve led by Uncle Ben “Crank Up That Printing Press” Bernanke (another guy that has not worked a day in his life in the private sector and could not run a 7-Eleven on the best day of his life!) really believe that all of their actions in the markets do not have a negative impact on the Real Economy, but actually the Fed in cooperation with the US Treasury is flooding the markets with Billions of new government debt each week and that debt is being bought up by banks and financial institutions so that they can take advantage of the Obscene Bernanke “Let’s Make the Bankers Very Rich Spread” between what they can borrow money from the Fed for, .25 percent, and what long-term fully-guaranteed US Government paper trades for 3.5 to 6 percent (when counting Fannie and Freddie bonds). 

The US Government is by spending all of this money actually destroying the Real Economy because they are sopping up Billions of Dollars that is being put into US Treasury and GSE debt securities that would be going into private business if the Morons in Washington DC were not spending money like a drunken sailor on leave with someone else’s money!  On top of all the spending of the “We Must Spend More Money to Save the World Crowd” the Government must increase taxes to fund all of this increased spending and for the interest on all of that debt (which is totally wasted money and just makes the Bastards on Wall Street and other countries like Saudi Arabia and China richer!) and when you tax the American People and American Business you just…TAKE THAT MUCH MORE MONEY OUT OF THE ECONOMY!

Are these “We Must Spend to Save The World Crowd” just plain stupid or are they just clueless idiots that have lived and worked on college campuses their entire lives and thus have no understanding that every dollar taken out of the Real Economy, whether it be by people putting money into Government Securities or by the Government Taxing more, takes Real Dollars and Money out of the Economy?  We are guessing the latter, because most of these folks have several degrees up on the wall, but often do not have any real world experience to help them understand how business and the real world actually works!  Maybe a “Let’s see how the Real World actually works” program for all of these academic and media types that have never held a job in the real world is in order.  We could start with Uncle Ben “Crank those printing presses up” Bernanke by having him work 1 year in a real job like running a sandwich shop…

… so that he could finally learn that the world and 99.9 percent of Americans do not benefit at all by making the Bastards on Wall Street richer (which is the goal of every policy initiative at the Federal Reserve because we all know that not only is the Congress owned lock, stock and barrel by Wall Street but the Fed is as well!)

Bravo to Amity Shlaes for flushing out George Soros and the rest of the “We Must Spend More Money to Save the World Crowd” for what they really are….

CLUELESS IDIOTS!

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With a 19 BILLION DOLLAR PLUS Deficit, a Government Pension System that is Imploding, an Educational System that is Failing the Kids of California and Unemployment at 12 PERCENT PLUS we are guessing that the Majority Political Party in California, the Democrats, are working hard on these very important issues…..

NOT!

What are the Democrats in Sacramento actually working on?

Debating the State Rock

California Golf Week

Making it a Crime to Crash The Oscars and other black-tie ceremonies

See, we are not making this up!  Hell, no one would believe any of this Nonsense that goes on in Sacramento if  you told them!  It really is that bad!

These California Democarts are indeed REAL MEN AND WOMEN OF GENIUS in Sacramento!

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The Wall Street Journal Editorial page nails the latest “Reform” bill, this time “Financial Reform” out of Congress….

Triumph of the Regulators

“President Obama hailed the financial bill that House-Senate negotiators finally vouchsafed at 5:40 a.m. Friday, and no wonder. The bill represents the triumph of the very regulators and Congressmen who did so much to foment the financial panic, giving them vast new discretion over every corner of American financial markets.

Chris Dodd and Barney Frank, those Fannie Mae cheerleaders, played the largest role in writing the bill. Congressman Paul Kanjorski even offered a motion to memorialize it as the Dodd-Frank Act. It’s as if Tony Hayward of BP were allowed to write new rules on deep water drilling.

The Federal Reserve, which promoted the housing mania and failed utterly in its core mission of monitoring Citigroup, will now have more power to regulate more financial institutions and more ability to dictate the allocation of credit.

The Treasury, which bailed out institutions willy-nilly without consistent rules, will now lead the Financial Stability Oversight Council that will have the arbitrary power to define which financial companies pose a “systemic risk” and which can be shut down without recourse to bankruptcy. Willy-nilly will now be the law.

And the SEC, which created the credit-ratings oligopoly and missed Bernie Madoff, will get new powers to decide how easy it should be for union pension funds to get their candidates on corporate proxy ballots.

Oh, and Fannie Mae and Freddie Mac? They aren’t touched at all, even as they continue to lose billions of taxpayer dollars each quarter.

In other words, our Washington rulers have taken 2,000 or so pages to double and triple down on the old system that failed.”

Yes, this all makes just perfect sense…..that is if you live in the Fantasyland that is Washington DC!

The same Clowns and Buffoons that demanded that Fannie Mae and Freddie Mac turn themselves into full-own subprime lenders with the US taxpayer on the hook if any of those subprime loans went bad (No, that would never happen!) are now telling us that they have come up with a way to “reform” Wall Street!

No, not a chance in Hell that anyone in Washington DC could properly “reform” Wall Street…..because anyone and everyone in OUR NATION’S CAPITAL that matters is owned lock, stock and barrel by the Wall Street Bastards!  Remember that thing called “campaign contributions?”  Good, then you know how Wall Street buys off OUR REPRESENTATIVES that are supposed to be WORKING OF US!

The Wall Street Journal continues…

“Consider as well the doctrine of “too big to fail,” which FDIC Chair Sheila Bair says this bill will end. It is true that, thanks mainly to Ms. Bair and Alabama Republican Richard Shelby, Dodd-Frank puts more constraints on bailouts than Treasury Secretary Tim Geithner or Fed Chairman Ben Bernanke wanted.

But the Fed (with the consent of the Treasury Secretary) can still use its emergency lending authority to rescue a firm as long as it also provides loans to similar institutions at the same time. The bill also gives access to the Fed discount window to the new clearinghouses that are supposed to handle most derivatives trades. So the same exchanges that are supposed to reduce the riskiness of derivatives trades will know the feds will bail them out if they get into trouble.

Meanwhile, the FDIC Chairman will be free to choose which creditors to rescue and which to punish when a company goes into “resolution,” even discriminating among creditors who bought the same bond issue. Expect union pension funds to fare better than other creditors when the feds roll up a bank in the future.””

Triumph of the Regulators

Yes, the folks in Washington DC are smart enough to regulate Wall Street!  Please, there isn’t anyone in Washington DC that can regulate folks that make a living out of picking the pocket of anyone stupid enough to fall into their orbits!  Anyone with a lick of sense knows that the Wall Street Bastards would bankrupt the American Republic if they thought than could Turn a Buck doing it….even if that meant selling out their own families in the process!

When you are dealing with the Worthless SOBs on Wall Street that have done nothing for their country beyond registering to vote and would be hiding out in Canada if our country ever got into a real shooting war again (Yes, you not only are Wall Street Bastards thieves,  you are cowards as well!), you have to be very straightforward with the Bastards and draw a very strong line at what the can do and what they can’t do.  If the Wall Street Bastards cross that line then you crush them and as Warren Buffett recently testified you leave the CEOs, their family and their spouses with NO NET WORTH!  If you blow up your company and it requires a dime from the US taxpayer to stay in business or to keep it from destroying the country, then every executive should walk out the front door with no more than 5 bucks in his pocket!  Now, that would be “FINANCIAL REFORM!” 

Does the “Financial Reform” actually do that?  Please, the Wall Street Bastards bought off the Congress and they got exactly what they wanted from their paid servants….NOTHING AT ALL!

JP Morgan Responds to Financial Reform:  The Poison Pill Strategy

Meanwhile the man in America that knows more about Real Financial Reform and these Bastards on Wall Street, Simon Johnson (The Baseline Scenario and author of 13 Bankers) writes that Jaime Dimon….

“While the financial reform negotiation process grinds to its meaningless conclusion, the real action lies elsewhere – in Jamie Dimon’s executive suite.

Dimon, the head of JP Morgan Chase, is apparently seeking to (a) become more global, (b) move further into emerging markets, and (c) become more like Citigroup.

This is terrific corporate strategy – and very dangerous for the rest of us.

Jamie Dimon clearly wants to become too big to fail, too interconnected to fail, and – above all – too global to fail.”

JP Morgan Responds to Financial Reform:  The Poison Pill Strategy

Oh, PERFECT!  Here’s the problem, the Wall Street Bastards are trying to fleece any and every American that is stupid enough to do business with them and since they rather like fleecing the Americans that are stupid enough to wander into their Las Vegas Casino they know they have to buy off every member of Congress that knows how to find his/herself around the building and can operate the electronic voting machines!  That is how you end up getting “Financial Reform” that is worth less than the paper it is written on!

If on the other hand we had Members of Congress that actually worked for THE PEOPLE (Remember us, the folks that actually own the country?), instead of the Wall Street Bastards and anyone else that shows up in DC with a few thousands dollars in his/her pocket, then maybe we could get some legitimate reform over these Wall Street SOBs…..Sorry, not going to happy because Congress is a lapdog and is owned completely by Wall Street and large corporations (Do you actually wonder why the people spend so much money lobbying our useless legislators?) and that means that the Bozos on Capitol Hill will claim that they have done something, like “Reforming” the Financial System when in reality they…

HAVE DONE NOTHING AT ALL!

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If you want to know why it is CERTAIN that the State of California is headed to Insolvency look no further than the Outrageous “Pension Spiking” practice in the Golden Broken State.  Calpensions.com has the relevant facts:

Pension spiking bill doesn’t change one-year rule

“A one-year rule that some say allows public pensions to be “spiked,” boosted through the manipulation of final pay, is not being changed by a reform bill because a powerful union wants the issue to be “bargainable” during contract talks.

A rule said to be unique to California bases the final pay used to determine pension amounts, along with age and years of service, on one year rather than the average of pay during three to five years common in other states.

Using just one year, critics say, makes it easier to boost pension payments by briefly switching to a higher-paying job at the end of a career or by increasing the base salary through supplemental pay such as cashing out unused vacation time.

Sen. Denise Moreno, D-San Diego, received a swift response when she asked during a committee meeting last week whether the reform bill would “require everybody to do pension calculations based on a three-year average rather than a final year?”

“It does not,” replied Terry Brennand, a lobbyist for the Service Employees International Union. “That’s a bargainable issue, and we have bargained it in different places. It’s been bargained for and bargained away.””

Oh, that’s just great!  The lobbyists for the Service Employees International Union, otherwise known as one of the leaders in the destruction of the American Republic, says that the “Reform” bill that the Idiots, otherwise known as State of California legislators, will do nothing about “pension spiking” because that is something the unions will only give up at the “bargaining table” in order to get something else of course! 

Are you thinking that these folks in Sacramento are total Morons?  Thought so!  Are you thinking that these Stupid Bastards don’t have any understanding that CalPERS and the rest of the Idiots managing the state’s pension fund could have their investment returns beaten by a monkey buying mutual funds that invested in the entire stock market and thus the Idiots at CalPERS now need almost $4 BILLION from the California General Fund in 2001?  Thought so…

Let’s read some more of this nonsense from Calpensions.com….

“The reform bill, AB 1987 by Assemblywoman Fiona Ma, D-San Francisco, is a response to reports that two Contra Costa County fire chiefs retired last year at ages 50 and 51 with pensions much higher than their base salary.

San Ramon fire chief Craig Bowen, with a final salary of about $221,000, retired with an annual pension of $284,000. Moraga Orinda fire chief Peter Nowicki turned a final salary of $185,000 into a pension of $241,000.

Brennand and Ma, who said the bill ensures that pension fund assets “don’t become unraveled by a couple of bad apples,” share an apparently common view that pension spiking is usually done by top managers.

But the Contra Costa Times columnist who uncovered the generous fire chief pensions, Daniel Borenstein, also found that in a sanitary district “more than two-thirds of departing employees in the past five years spiked their pensions 25 percent to 41 percent.””

Pension spiking bill doesn’t change one-year rule

Isn’t that special?  Government workers that are now retiring are “spiking” their pensions like crazy and those Nuts running the asylum up in Sacramento are working on a “Reform” bill that does nothing to stop this madness!  Yes, these Idiots are “Working for the People!”  NOT!

We have some news for the Buffoons in the California state legislature, the Government Workers that are retiring and are now retired, and the Public Employee Unions……

Don’t expect the People of California to bankrupt the state, destroy the K-12 schools and otherwise completely implode California so that a bunch of Government Workers can lie around on their asses for 40 + years in retirement making hundreds of thousands of dollars a year doing….

NOTHING!

Expect cuts in the coming years to public employee pensions or expect your public employee pensions to disappear completely, because right now the Buffoons in Sacramento have proved that they will run the State of California into the ditch in order to satisfy their Masters, the Public Employee Unions, but that doesn’t mean that all of you idiots won’t bankrupt the state in the process which would mean….BYE-BYE PENSIONS!

In fact, you can be confident that the Public Employee Unions would bankrupt the state because they don’t give a damn about anything but making sure that Government Workers have the right to lie around on their asses for 40+ years making hundreds of thousands of dollars a year while doing nothing, even if that insanity destroys the lives of millions of schoolchildren.  Don’t believe that?  Just talk to one of these Idiot Public Employee Union “Lobbyist” and you will get religion in a hurry!

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In Bizarro-Land, otherwise known as the state of California, just 62.7 percent of high school students graduate with a diploma!  That is bad enough, but that is a 5 POINT DROP from only 10 years ago!  Even with TENS OF BILLIONS of Dollars being spent on Education in California every year the state is not getting better, IT’S GETTING MUCH WORSE!  And these Bozos running the Educational Establishment in California say that if we just give them even more $$$$$$$ they can fix everything!  Please, what do they take us for…MORONS?  Dan Walters of the Sacramento Bee lays out the ugly facts for all to see: 

High School Graduation Rate Puts California to Shame

“Let’s assume, at least for the purposes of this screed, that the primary purpose of a public education system is to produce a maximum number of high school graduates prepared to either pursue higher education of some kind or enter the work force.

By that standard, California is failing miserably, as Education Week magazine’s new nationwide survey of high school graduation rates confirms.

In 1996-97, Education Week calculated, 67.4 percent of California’s high school students were graduating. That was 1.7 percentage points above the national average, with 19 other states having lower rates.

A decade later, the national graduation rate had risen by nearly two full points. But California’s had dropped nearly five points to 62.7 percent. Just eight states had lower rates than California, including lowest-in-the-nation Nevada at an abysmal 41.8 percent.”

Oh, it gets worse!  Dan Walters continues….

“OK, so we’re not as bad as Nevada and can look down at the District of Columbia, Texas and a raft of Southern states. But the statistical fact is that while the nation as a whole has seen high school graduation rates increase incrementally, California has been headed in the other direction.

Moreover, when only the biggest school districts are considered, California’s graduation track record is, if anything, even worse.

Education Week calculated graduation rates for the nation’s 50 largest school districts. Los Angeles Unified, at 40.6 percent, is the nation’s second worst, barely ahead of Clark County, Nevada, which includes Las Vegas.

Fresno Unified’s rate was just 51.2 percent, and San Diego Unified’s was 59.9 percent, both below California’s poor graduation rate.”

High School Graduation Rate Puts California to Shame

Remember, we are talking about GRADUATING FROM HIGH SCHOOL, which in recent years has become little more than a glorified day care center that no longer requires any kind of serious study to get to graduation day.  These disastrous high school graduation rates in America’s largest state portend what is coming down the pike and we are not talking about the state of milk and honey!

The former Golden State is now the Does Anyone In California Have a Clue State and unless the Buffoons in Sacramento wake-up soon and start to hold students, parents, teachers, administrators and the entire damn educational system accountable for the unmitigated disaster that is Education in California the Golden Broken State is looking Third World Status right in the kisser!

To make matters worse, if that’s even possible, California faces the choice for Governor in 2010 of Jerry “Moonbeam” Brown, who hasn’t done an honest day’s work in his life, and Meg “Beanie Baby” Whitman, who thought so much of her country and state that she didn’t bother to vote for 25+ years!  Yes, either of those people will work out great!  Not only NOT on both “Moonbeam” and “Beanie Baby” but seriously now, is the 2010 California Governor’s Race a Saturday Night Live skit or what?  No, its not a SNL skit and that means…..Got Insolvency California?

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What really scares the Hell out of our “Elected Leaders” on the Potomac River in Washington DC is the possibility that a big group of Americans on the left and a big group of Americans on the right might get together one day and end all of this absolute nonsense going on in our nation’s capital.

To scare the Hell out those Bastards disguised as “Our Leaders” we can for the 2 nd time in a month say that we here on the “Center-Right” at Mad As Hell And… agree with liberal New York Times columnist Frank Rich, this time on the firing of General McChrystal and the Hullabaloo that surrounded that firing or as Frank Rich calls it…

The 36 Hours That Shook Washington

We could reprint Mr. Rich’s entire column here because we can’t find a thing in it we disagree with, but in deference to Mr. Rich and the Old Grey Lady here are a few snippets with the link above and after a few paragraphs from the column:

“THE moment he pulled the trigger, there was near-universal agreement that President Obama had done the inevitable thing, the right thing and, best of all, the bold thing. But before we get carried away with relief and elation, let’s not forget what we saw in the tense 36 hours that fell between late Monday night, when word spread of Rolling Stone’s blockbuster article, and high noon Wednesday, when Obama MacArthured his general. That frenzied interlude revealed much about the state of Washington, the Afghanistan war and the Obama presidency — little of it cheering and none of it resolved by the ingenious replacement of Gen. Stanley McChrystal with Gen. David Petraeus, the only militarily and politically bullet-proof alternative.

What we saw was this: 1) Much of the Beltway establishment was blindsided by Michael Hastings’s scoop, an impressive feat of journalism by a Washington outsider who seemed to know more about what was going on in Washington than most insiders did; 2) Obama’s failure to fire McChrystal months ago for both his arrogance and incompetence was a grievous mistake that illuminates a wider management shortfall at the White House; 3) The present strategy has produced no progress in this nearly nine-year-old war, even as the monthly coalition body count has just reached a new high.

If we and the president don’t absorb these revelations and learn from them, the salutary effects of the drama’s denouement, however triumphant for Obama in the short run, will be for naught.

There were few laughs in the 36 hours of tumult, but Jon Stewart captured them with a montage of cable-news talking heads expressing repeated shock that an interloper from a rock ’n’ roll magazine could gain access to the war command and induce it to speak with self-immolating candor. Politico theorized that Hastings had pulled off his impertinent coup because he was a freelance journalist rather than a beat reporter, and so could risk “burning bridges by publishing many of McChrystal’s remarks.”

Amen to that Frank Rich!  Hey, who said a former theater critic couldn’t write about Washington intrigue?  Hell, Washington DC is nothing but intrigue, only it is intrigue filled with a lot of Bullshit and tons of Ego…..make that Egomaniacs!  Mr. Rich continues…

“Symbolically enough, Hastings was reporting his McChrystal story abroad just as Beltway media heavies and their most bold-faced subjects were dressing up for the annual White House correspondents’ dinner. Rolling Stone has never bought a table or thrown an afterparty for that bacchanal, and it has not even had a Washington bureau since the mid-1970s. Yet the magazine has not only chronicled the McChrystal implosion — and relentlessly tracked the administration’s connections to the “vampire squid” of Goldman Sachs — but has also exposed the shoddy management of the Obama Interior Department. As it happens, the issue of Rolling Stone with the Hastings story also contains a second installment of Tim Dickinson’s devastating dissection of the Ken Salazar cohort, this time detailing how its lax regulation could soon lead to an even uglier repeat of the Gulf of Mexico fiasco when BP and Shell commence offshore drilling in the Arctic Ocean.

We now know, thanks to Hastings, that the general was out of control and the White House was naïve. The price has been huge. The McChrystal cadre’s utter distaste for its civilian colleagues on the war team was an ipso facto death sentence for the general’s signature counterinsurgency strategy. You can’t engage in nation building without civilian partnership. As Rachel Maddow said last week of McChrystal, “the guy who was promoting and leading the counterinsurgency strategy has shown by his actions that even he doesn’t believe in it.”

This fundamental contradiction helps explain some of the war’s failures under McChrystal’s aborted command, including the inability to hold Marja (pop. 60,000), which he had vowed to secure in pure counterinsurgency fashion by rolling out a civilian “government in a box” after troops cleared it of the Taliban. Such is the general’s contempt for leadership outside his orbit that it extends even to our allies. The Hastings article opens with McChrystal mocking the French at a time when every ally’s every troop is a precious, dwindling commodity in Afghanistan.

In the 36 hours between the Rolling Stone bombshell and McChrystal’s firing, some perennial war cheerleaders in the Beltway establishment, including the editorial page of The Washington Post and Michael O’Hanlon of the Brookings Institution, did rally to the general’s defense and implored Obama to keep him in place. George Stephanopoulos, reflecting a certain strain of received Beltway wisdom, warned on ABC that the president risked looking “thin-skinned and petulant” if he fired McChrystal.“

The 36 Hours That Shook Washington

Double Amen to that Frank Rich!  We could go on, but we think you get the idea! 

Here is what we at Mad As Hell And.. think:

1.  If we are going to go to war in Afghanistan, then let’s go to war.

2.  If we are in Afghanistan to destroy the Al Qaeda, find and kill Osama bin Laden and his top terrorists and keep the Taliban out of power, then let’s do it.

3.  Of course, General McChrystal should have been fired!  Hell, we would have drummed McChrystal out of the military after the Pat Tillman debacle (As detailed by Jon Krakauer, McChrystal’s Explanation For Pat Tillman Cover-Up is Preposterous) when the Bush Administration, Pentagon and US Army tried to use Pat Tillman’s death to gin up support for the Iraq War

4.  Let’s get done what we need to get done in Afghanistan and GET THE HELL OUT!

Yes, the Bastards on the Potomac should be very concerned because their very old game of playing one group of Americans against each other with the Buffoons (Our “Elected Leaders”) just staying in power and destroying OUR country in the process is getting VERY OLD! 

Americans of all stripes are catching on to all the Bullshit that goes on in OUR CAPITAL and the cozy relationship between the Government and The Media is at the heart of the problem because the Media is intent on reporting on the BS while the real issues are hidden and in the background, just the way the Bastards in power like it!  The American People are being ripped off on a daily basis by our “Elected Leaders,” but that will not continue forever you Washington Elite and when all of this nonsense comes to an end the “Elite” might just wake up one day and see that half of Washington has been indicted by Federal Grand Juries comprised of the American People investigating what these SOBs have been up to for the past several decades!

Yes, Mad As Hell And… is back in business!

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We are changing the format at Mad As Hell And… to a Blog from our Old Homepage which you can still find at:  Mad As Hell And… Old Homepage.  Besides a change in format, nothing else has changed……

Welcome to the Mad As Hell And…!   Very simply, we here at Mad As Hell And… are driven by the words of one of the American Republic’s greatest Founders, Thomas Jefferson:

“When the people fear their government, there is tyranny; when the government fears the people, there is liberty.”

Unfortunately, almost all of our elected politicians and government bureaucrats not only don’t fear the American people, they laugh at and do not respect us at all.  As Thomas Jefferson makes very clear with the above words, that type of attitude, a lack of respect for the wishes of the American people is not healthy for our Republic and it is something that must be changed if we are to get our country back from the elitists that could really care less about what the American People needed or wanted for themselves and their families.

We hope you find the Mad As Hell And…, www.madashelland.com, educational, entertaining, insightful, and most of all important and relative to your life as a citizen of this grand experiment called…

The United States of America

Enjoy!

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