-By Dan Scott
When the discussion turns to financial instruments people’s eyes glaze over due to the complexity of the issue. However, in this case what you don’t understand or rather what you don’t know can hurt you. Congress and the Whitehouse at this point have focused on a plan that supposedly will solve the credit lock threatening the economy with Recession. The problem is the solution proposed doesn’t address the cause but the symptoms. The upshot is while this solution will work it will only do so in a very short time frame, leaving the underlying problem unresolved and festering. Unfortunately, it may take the fall of Wells Fargo, Citicorp and HSBC who literally own TRILLIONS of dollars in CDO derivatives to finally bring Congress and the Whitehouse to their senses. Bears Stearns and Lehman Brothers already paid the price of inaction. I’m not optimistic about any of the current batch of politicians in power actually acting proactively, their track record speaks otherwise.
The Bush Administration for years has been warning about the potential of the lending abuses by Fannie Mae and Freddie Mac. Unfortunately, their warnings have been too technical, understood by only those in the financial arena. Combined with the incompetence of Rep. Barney Frank (D) and Sen. Christopher Dodd (D) the problem was not resolved and in fact the solutions were repeatedly rebuffed. Even Sen. Barack Obama in 2005 failed to grasp the issues when reforms were repeatedly requested, he dutifully voted the Democrat Party Line as an Order Taker against reform. He opposed CHANGE in the favor of the STATUS QUO. His response thus far in 2008 is more Order Taking. What was his response about going back to Washington to work out a bipartisan compromise? He said to paraphrase, I can fly to Washington for the vote and then return in time for the debate. A leader is involved in negotiations, an order taker settles with the results.
Continue reading “Collateralized Debt Obligations, The CDO Menace”
The Rolling Stone has a 
I suppose this makes something like the one hundredth leftist female writer that has decided that Sarah Palin is a traitor to womanhood. But, here we have it again, another wild-eyed, hate filled, far left screed filled with name calling and little else, this one from 
15 year Detroit radio reporter was fired for wearing an Obama T-Shirt while on the job covering an Obama rally. As a result of this major breach of ethics, WWJ Newsradio 950 showed reporter Karen Dinkins the door — that’s right, she was fired.
I would urge someone close to members of the editorial board of the Boston Globe to let them know that the world is not flat, the moon is not made of green cheese, and Elvis is, indeed, dead. I say this because obviously the Boston Globe is way behind the times in discovering facts that debunk rumors and it’s clear they have no capacity to do any research. I mean, they must not be paying attention to reality because in today’s 
Well, I guess the McCain campaign really did get tough on the New York Times. Yesterday, leftist columnist Maureen Dowd was told she was no longer welcome on McCain’s campaign plane and had to go home with her tail between her legs. 
Granted the focus of today’s news is overwhelmingly on the bailout and the presidential race, but there is also big news on how Americans are now seeing the war effort. The pendulum has swung from despair to hopeful belief and this is important news that impinges on the elections. 
This has to rank as the all time most hypocritical piece I’ve yet seen featuring liberal finger waging at conservatives over their ire at the product of the leftist press. It is conservatives, you see, that have “have put the final nail in the coffin of truth,” in essence killing the truth, not the left for doing its level best to eliminate the entire concept of truth. It is our fault for pointing out the liberal’s efforts to destroy truth not theirs for having launched the campaign. How’s THAT for spin?
So, The One was in front of his subjects of the Black Congressional Caucus in D.C. and was wowing them with the mellifluous tones of his oratory and there stood the little missus. There was that mean Mama all a flutter over her man — you know, the one that made her proud of America for the very first time? — and the messiah deigned to notice her across the room. 
What is it we hear echoing in the left-o-sphere? Don’t we hear all the time that the left is chock-full-o-nuts on how those eeeevil capitalists are so in love with what they call “corporate welfare”? Aren’t the nutrooters always railing about how the right is so in bed with business, giving them oh so many tax breaks? Of course, the left loves their corporate welfare, too. So much so that they’ve gone back to slipping it into play even when it was defeated not only by the right, but deplored and castigated by the left’s pals in Europe and the international community. 
The candidate of change, the shining proponent of a “new way” in national politics, says that you aren’t allowed to bring a sign to his rally. So much for the right of free political speech. To add insult to injury, this rally was held at the publicly funded 
Bill Fletcher is all about the wringing of hands over the corruption scandal of the Service Employees International Union (SEIU) and is afraid that it will get in the way of the upcoming presidential campaign. Fletcher, a long time union activist, pseudo “Africanist,” anti-American, and anti-Jew agitator, who is also a 
Well, it took them long enough, but the State run Canadian Broadcasting Corporation (CBC) has finally 
Even the crossword puzzles in The New York Times are biased in favor of Obama and Biden finds David Levinson Wilk in Politico. Wilk did a little research to see how many times McCain has been an answer in the NYT puzzle since 2005.