September 17, 2008
Fannie Mae and Freddie Mac
I welcome any knowledge you can offer on the following subject. I’ll admit that I don’t know too much about these public-private companies, but I do know one thing: it is stupid. The outdated policies that govern these two companies became a bubble too big to pop.
The FDR administration created Fannie Mae, in order to stimulate the housing market during the great depression. Essentially, it would use federal money to finance local banks providing home mortgages. It operated like a national savings and loan, thus the name, “secondary housing market.” After thirty years, the government decided to privatize Fannie Mae, with the financial backings of the Treasury. The monopoly got so big, that the government created Freddie Mac to essentially do the same thing, from what I understand.
The thing about these two companies is that they are the only companies in the Fortune 500 that aren’t bound by the governing laws of the SEC. This means that they don’t have to report any financial crisis that they predict to the shareholders. Allegations of accounting deception and fraud have been surround these companies for a while now.
It’s ridiculous. It’s like the government will slap them on the wrist, while slapping us in the face with these bailouts. Come on!
And amidst this crisis that has apparently been going on for a while now, I would like to mention something I just learned about. Obama, in his short stint in the U.S. Senate(and I mean 130 days short), has received the second most lobbying and financial contributions to a politician in the two companies’ history with $126,349 (the most was Dodd). He states most of of the money came from individual employees, but most doesn’t mean all. McCain does have some stocks and bonds in the company, but no contributions that I found out about. This are reported by the Center for Responsive Politics.
Correct me if I am wrong. To me, this means that if these companies have been going through a financial crisis, why would Obama accept money from these companies? Once again, even if he claims MOST came from individual employees, doesn’t that mean some came from the companies? Why is a candidate accepting contributions from a semi-public company anyway? Would he have known that the government would bail them out when he accepted contributions? Is this ethical? I could be completely wrong in my assumptions, but then again…
These companies are responsible for 4.8 million dollars in congressional contributions. The majority are democrats, but it is still on both sides. We need some deregulation and to privatize them. I don’t want to pay to lobby candidates, so why I am bailing them out?
September 13, 2008
Obama’s “Classy” Campaign Ad
Senator talks about a different kind of campaign, and just released an ad attacking how McCain barely knows how to use an email or even a computer. This is truly a low blow that I think will backfire once people realize that he can’t type on a keyboard because of injuries he incurred during war. Boston Globe published an article, which can be found here that states:
“McCain’s severe war injuries prevent him from combing his hair, typing on a keyboard, or tying his shoes. Friends marvel at McCain’s encyclopedic knowledge of sports. He’s an avid fan – Ted Williams is his hero – but he can’t raise his arm above his shoulder to throw a baseball.”
Either this has been a low blow or his campaign staff is filled with idiots. This is a shame.
Let me ask, what is worse? Making fun of a handicap because of his inabilities to perform or… wait… That’s what this is.
This combined with Joe Biden asking the handicapped, paraplegic Senator to stand up would definitely make this one great “foo pah” week!
September 10, 2008
“Lipstick on a Pig”
Whether Barack’s comments about putting lipstick on a pig was a direct jab or not at Palin, we won’t ever know. One thing I did notice was his comments when he addressed the McCain ad mentioning his comments. He said the McCain camp didn’t want to put ads out that discuss the issues, and are simply putting ads out that are playing that ‘same ol’ political game that we all hate. If you recall as I do, his camp released an advertisement that spoke about the number of houses that John McCain and his wife own. Explain how this advertisement he released about a month ago is discussing the “issues” either.
Obama’s attack advertisements have proven to be more helpful to McCain than to Obama. Keep up the good work!
September 8, 2008
McCain’s Ahead! and The NY Post
According to all major polls, McCain has taken the lead. USA Today Gallup has him 4 points over Obama. Today, NY Post has backed him with the following article. My favorite part is, “McCain’s lifelong record of service to America, his battle-tested courage, unshakeable devotion to principle and clear grasp of the dangers and opportunities now facing the nation stand in dramatic contrast to the tissue-paper-thin résumé of his Democratic opponent, freshman Sen. Barack Obama”
<a href=”http://www.nypost.com/seven/09082008/postopinion/editorials/post_endorses_john_mccain_128044.htm?page=0″>POST ENDORSES JOHN MCCAIN</a>
September 4, 2008
Obama
Really quick note.
I just heard something on the radio talking about Sarah’s husband’s drinking and driving arrest over twenty something years ago. Well, if we want to bring that to the table, make sure we are talking about Obama’s drug usage that he is open about.
Seriously, people are attacking our VP pick and are avoiding the subject of Obama. Forget about his lack of experience, for a second. He has served in the US senate for roughly 140 days before beginning his campaign as president. In that time, and as a state senator he has not authored any laws or had any significant achievements for that matter. He is associated with Ayers, self admitted US terrorist. He claimed to go to a church before people found out that the pastor was preaching discrimination. Then he said that he rarely attends there.
The fact this man has more memoirs than he does laws, which is two more, is enough to tell me what this guy does in his time. Apparently, he voted undecided over a hundred times as a senator. And you’re telling me that people want him to be their commander and chief? To make decisions?
His biggest achievement in his life is making enough people up until now believe in his words, because his actions sure haven’t proven anything in his life. Follow charisma over character?
GOP convention Day 3
Really it was Day 2, but you know…
I am about to go to bed, so I am not going to talk long. I just want to say that Governor Palin knocked one out of the park tonight. She did an excellent job on her speech and even better job of winning over the convention.
One quick note: Tomorrow and these next few days you will hear a few criticisms from the other side which have zero credibility.
1. You will hear that “Wasn’t she too hard on Obama? She went a bit too far.” Well people, this is just an example of ‘a taste of your own medicine’ being thrown down. To say that there weren’t any attacks from them at their convention on McCain, would be a huge understatement. Plus, the first remarks of the Obama campaign, although retracted, were about Palin’s lack of experience. Yes, these comments were retracted, but Obama is still responsible for them being let out and he is just getting punished for those remarks. Let’s note that we never brought up lack of experience until they did, and since they did; well, let’s take advantage of that because they are wayyyyyyyyyy off. The left has been so critical of her; not to mention, attacking her family as well. This was her way of saying we are not going to take it.
2. The media will criticize her for just reading a speech. Ladies and Gentlemen: ALL CANDIDATES DO THAT! It’s not really a secret, and it shouldn’t be newsworthy, but I promise you will hear/see that somewhere.
3. “Her soon to be son-in-law was there and on stage, and was just parading it.” As she so well put, her family is like any other family… they have their ups and downs and share in each other’s triumphs and battles. She is proud of her family and has no reason to be ashamed of her family or family to be, despite the circumstances that led him there.
Alright, while I can keep going on and on… I am tired. More later…
One more thing, Romney, Huckabee, and Guiliani were all terrific speeches.
-Goodnight,
Colt (Sorry about my poor grammar and run-on sentences. I am tired!)
UPDATE!!!!!!
Obama camp released a statement that said, “the speech was written by Bush’s speech writers.” HAHA I CALLED IT! Obama’s speech writer came from NBC’s The West Wing. Oh yeah, all Hollywood. No wonder he wins votes through his speeches alone.
September 1, 2008
Universal Health Care- Is it Fair?
I wasn’t going to post another one today, but in light of my balanced debate between christianliberal and myself has led me to do so.
As a student of modern economics, I feel that when we take a look at the broad picture of universal health care, we should all be able to agree that it is not economically reasonable or fair for that matter.
I’m sure most of you have heard the joke, “If America had free health care, where would the Canadians go?” As funny as this is, there is a sense of truth that comes with it. I don’t need to go out and search for articles that describe the horrors of the Canadian health care system, you can do that research for yourself. I can explain that our society is based on incentives. A doctor’s biggest incentive to be a good doctor is more patients, which comes with more money or their ability to charge more for the better services rendered. By making health care free, then we take away the doctor’s incentive to be a better doctor and make more money. Some of you might be thinking, the doctor’s incentive should be to make a difference, but I am looking at economic and real incentives.
Another point, is that if we were to offer socialized health care, then we will begin to shut down hundreds or even thousands of medical companies. This may send our economy into an economic downfall. A lot of these medical companies also are a big part of medical research. Then we would have to ask the government to take that over as well.
One more point… Free is never free. When the government pays for anything, remember, the government has no money! We are still going to pay for it one way or another. Also, if everyone gets the ‘free’ health care, then only those who pay taxes are going to be paying for it which could ultimately make it more expensive.
Don’t get me wrong. Medical reform is a must, but it starts with less control from the government; not more.
These are the steps to communism…
Tax Cuts for the Wealthy
I am going through the Obama website and reading different plans that he has for America and allow me to share this:
Obama will protect tax cuts for poor and middle class families, but he will reverse most of the Bush tax cuts for the wealthiest taxpayers.
Let’s make something clear here: the tax cuts for the wealthy aren’t, by any means, making the wealthy pay a smaller percentage than what low and middle class Americans do. In the U.S. we have a progressive tax, which means that your tax rate increases as your income does. In other words, it creates more of a burden on the rich than the poor. This is discrimination based on income and punishes those for being so successful with a higher tax rate. The tax cuts which have become so infamous for giving ‘preferential treatment’ to the rich, is in fact, reducing discrimination.
So, by that definition the U.S. government discriminates against higher wage earners, stating that they must pay more for their success. When we do tax the wealthy more, and then redistribute that money, is that more or less efficient than not taxing them an additional percentage? This question primarily is aimed towards businesses. Think about this. If a company pays more to the government, that is less jobs than it will employ. A company’s best interest will usually cause it to cut jobs before it does the bottom line.
Do your research and if you can prove to me that taxing wealthy more is better for our economy, I will consider changing my stand on this issue.
