Archive for September, 2008
30 Sep 2008

The World Watches Aghast

2008 Election, John McCain, Mortgage Mess

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Victor Davis Hanson wonders if the hour’s need will produce a man who can lead.


The stage is set for someone to play Washington, Lincoln, or Churchill. An entire generation of leadership is failing, as the world watches aghast.

30 Sep 2008

ACORN, Obama, and the Mortgage Debacle

ACORN, Barack Obama, Mortgage Mess

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ACORN protester

Mona Charen highlights the special place of community organizers in the current crisis: they had a lot to do with causing it, and they may well yet still reap yet more power and money as the result.


The financial markets were teetering on the edge of an abyss last week. The secretary of the Treasury was literally on his knees begging the speaker of the House not to sabotage the bailout bill. The crash of falling banks made the earth tremble. The Republican presidential candidate suspended his campaign to deal with the crisis. And amid all this, the Democrats in Congress managed to find time to slip language into the bailout legislation that would provide a dandy little slush fund for ACORN.

ACORN stands for the Association of Community Organizations for Reform Now, a busy hive of left-wing agitation and “direct action” that claims chapters in 50 cities and 100,000 dues-paying members. ACORN is where Sixties leftovers who couldn’t get tenure at universities wound up. That the bill-writing Democrats remembered their pet clients during such an emergency speaks volumes. This attempted gift to ACORN (stripped out of the bill after outraged howls from Republicans) demonstrates how little Democrats understand about what caused the mess we’re in.

ACORN does many things under the umbrella of “community organizing.” They agitate for higher minimum wages, attempt to thwart school reform, try to unionize welfare workers (that is, those welfare recipients who are obliged to work in exchange for benefits) and organize voter registration efforts (always for Democrats, of course). Because they are on the side of righteousness and justice, they aren’t especially fastidious about their methods. In 2006, for example, ACORN registered 1,800 new voters in Washington. The only trouble was, with the exception of six, all of the names submitted were fake. The secretary of state called it the “worst case of election fraud in our state’s history. ...

ACORN recognized very early the opportunity presented by the Community Reinvestment Act (CRA) of 1977. As Stanley Kurtz has reported, ACORN proudly touted “affirmative action” lending and pressured banks to make subprime loans. Madeline Talbott, a Chicago ACORN leader, boasted of “dragging banks kicking and screaming” into dubious loans. And, as Sol Stern reported in City Journal, ACORN also found a remunerative niche as an “advisor” to banks seeking regulatory approval. “Thus we have J.P. Morgan & Co., the legatee of the man who once symbolized for many all that was supposedly evil about American capitalism, suddenly donating hundreds of thousands of dollars to ACORN.” Is this a great country or what? As conservative community activist Robert Woodson put it, “The same corporations that pay ransom to Jesse Jackson and Al Sharpton pay ransom to ACORN.”

ACORN attracted Barack Obama in his youthful community organizing days. Madeline Talbott hired him to train her staff—the very people who would later descend on Chicago’s banks as CRA shakedown artists. The Democratic nominee later funneled money to the group through the Woods Fund, on whose board he sat, and through the Chicago Annenberg Challenge, ditto. Obama was not just sympathetic—he was an ACORN fellow traveler.

Now you could make the case that before 2008, well-intentioned people were simply unaware of what their agitation on behalf of non-credit-worthy borrowers could lead to. But now? With the whole financial world and possibly the world economy trembling and cracking like a cement building in an earthquake, Democrats continue to try to fund their friends at ACORN? And, unashamed, they then trot out to the TV cameras to declare “the party is over” for Wall Street (Nancy Pelosi)? The party should be over for the Democrats who brought us to this pass. If Obama wins, it means hiring an arsonist to fight a fire.

30 Sep 2008

A Leak From the MSM

2008 Election, Media Bias, The Mainstream Media

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Someone working at a major news organization writes Glenn Reynolds privately:


Off the record, every suspicion you have about MSM being in the tank for O is true. We have a team of 4 people going thru dumpsters in Alaska and 4 in arizona. Not a single one looking into Acorn, Ayers or Freddiemae. Editor refuses to publish anything that would jeopardize election for O, and betting you dollars to donuts same is true at NYT, others. People cheer when CNN or NBC run another Palin-mocking but raising any reasonable inquiry into obama is derided or flat out ignored. The fix is in, and its working.” I asked permission to reprint without attribution and it was granted.

29 Sep 2008

“Burning Down the House: What Caused Our Economic Crisis?”

Barack Obama, Democrats, Mortgage Mess

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A 9:59 video look at the mortgage meltdown’s roots.

———————————————————
9/29: 6:00 PM EDT:

The Obama Campaign is on the job. Warner Brothers made YouTube pull the plug for “copyright violations,” i.e., song quotations.

I would expect the video to be back (with the offending song removed) before very long.

———————————————————
Back up 9:45 PM EDT:

new link

29 Sep 2008

P.J. O’Rourke Has Cancer

P.J. O'Rourke

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P.J. O’Rourke encounters the Reaper.


I looked death in the face. All right, I didn’t. I glimpsed him in a crowd. I’ve been diagnosed with cancer, of a very treatable kind. I’m told I have a 95% chance of survival. Come to think of it—as a drinking, smoking, saturated-fat hound—my chance of survival has been improved by cancer.

Read the whole thing.

Best wishes for a complete recovery.

29 Sep 2008

Obama Campaign Thuggery Continues

2008 Election, Barack Obama, Hackers, Hacking, MacRanger, MacsMind, Political Commercials, Technology, The Blogosphere

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MacRanger

Obama campaign supporters’ thuggish efforts to suppress criticism of Obama have progressed to the level of hacking attacks (using “sql bombs”) on prominent conservative blogs like Macsmind, published by Jack Moss, who signs his posts “MacRanger.” Moss is a journalist and lecturer, retired from a professional military career focused on Intelligence and Logistics, who writes commonly on Intelligence and Defense issues as well as politics.

Gateway Pundit has the story.


This is MacRanger of Macsmind. As you know I was hacked by operatives of the Obama Campaign last month. Well, it happened again. Basically they flooded the site with “sql bombs” according to the host that caused the shared server to stop running. Subsequently he had to disable the site. This had to do with running the “Obama wants to Disarm America” post which more than 2 million people viewed on the site. Just like the goons in Missouri, the Obama truthers can’t let the truth be known. I’ve now moved the blog back to blogspot at macsmind.blogspot.com at least temporally. Because of the hacking job I had to move to another host but unfortunately they haven’t got the server up yet to redirect the traffic to blogspot. I would appreciate a mention to your readers. I’m getting a couple of hundred emails about “what happened”, but as you can imagine it hard to get the word out by reply.

Thanks,

MacRanger

MacRanger’s temporary site is here.

MacRanger believed the hacking attacks were in response to this political ad criticizing Obama’s avowed policy of unilateral disarmament.

0:51 video

29 Sep 2008

Bad News for Obama

Antoin Rezko, Barack Obama, Chicago, Corruption

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Facing sentencing for his political corruption conviction, Chicago real estate developer and long-time Obama financial supporter Antoin Rezko is reported to be considering cooperating with prosecutors.


Rezko’s trial this year laid bare a culture of scams, bribes and backroom deals stretching from City Hall to the Statehouse. It even became fodder in the presidential campaign of Democratic nominee Barack Obama, whose fundraising and personal ties to Rezko go back more than a decade.

Rezko has made no deal in the wake of his June corruption conviction, sources familiar with the situation said, but has had preliminary talks with prosecutors before an October sentencing that could put him in prison for years. Still, there are indications Rezko has already provided investigators with information.

Four attorneys have told the Tribune in recent days that federal prosecutors have telephoned them and other attorneys either with news Rezko is talking, or armed with details only Rezko could know. The lawyers speculated prosecutors are using the preliminary talks with Rezko to shake loose more cooperation from other witnesses.

“I had very recent a conversation with an assistant U.S. attorney that led me to believe they were getting specific information from either Mr. Rezko or Mr. Rezko’s lawyer,” said a defense attorney who said he represents a figure in the case. None of the attorneys interviewed would agree to be quoted by name, saying they didn’t want to hurt their clients.

29 Sep 2008

Barack Obama: Community Organizer

Barack Obama, Marxism, Mortgage Mess, The Left

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Why did mortgage lenders start making all those high risk loans? Stanley Kurtz explains that the radical left successfully combined agitation with official federal policy to make them do exactly that.


What exactly does a “community organizer” do? Barack Obama’s rise has left many Americans asking themselves that question. Here’s a big part of the answer: Community organizers intimidate banks into making high-risk loans to customers with poor credit.

In the name of fairness to minorities, community organizers occupy private offices, chant inside bank lobbies, and confront executives at their homes – and thereby force financial institutions to direct hundreds of millions of dollars in mortgages to low-credit customers.

In other words, community organizers help to undermine the US economy by pushing the banking system into a sinkhole of bad loans. And Obama has spent years training and funding the organizers who do it.

Read the whole thing.

28 Sep 2008

Family Told Obama Not to Wear Son’s Bracelet

2008 Election, Barack Obama, Iraq, War on Terror

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Newsbusters
:


Barack Obama played the “me too” game during the Friday debates on September 26 after Senator John McCain mentioned that he was wearing a bracelet with the name of Cpl. Matthew Stanley, a resident of New Hampshire and a soldier that lost his life in Iraq in 2006. Obama said that he too had a bracelet. After fumbling and straining to remember the name, he revealed that his had the name of Sergeant Ryan David Jopek of Merrill, Wisconsin.

Shockingly, however, Madison resident Brian Jopek, the father of Ryan Jopek, the young soldier who tragically lost his life to a roadside bomb in 2006, recently said on a Wisconsin Public Radio show that his family had asked Barack Obama to stop wearing the bracelet with his son’s name on it. Yet Obama continues to do so despite the wishes of the family.

Not hard to understand why Obama had to fumble with the bracelet to come up with the soldier’s name, is it?

2:16 video

28 Sep 2008

Ford Model T Centenary

Automobiles, Ford Model T

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Popular Mechanics celebrates the 100 Anniversary of the world’s first cheap, reliable automobile, Henry Ford’s Model T, the Volkswagen Beetle of my grandfather’s day.

28 Sep 2008

Gov. Blunt Statement on Obama Campaign’s Abusive Use of Missouri Law Enforcement

2008 Election, Barack Obama, Free Speech, Official Misconduct

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Press release:


JEFFERSON CITY - Gov. Matt Blunt today issued the following statement on news reports that have exposed plans by U.S. Senator Barack Obama to use Missouri law enforcement to threaten and intimidate his critics.

“St. Louis County Circuit Attorney Bob McCulloch, St. Louis City Circuit Attorney Jennifer Joyce, Jefferson County Sheriff Glenn Boyer, and Obama and the leader of his Missouri campaign Senator Claire McCaskill have attached the stench of police state tactics to the Obama-Biden campaign.

“What Senator Obama and his helpers are doing is scandalous beyond words, the party that claims to be the party of Thomas Jefferson is abusing the justice system and offices of public trust to silence political criticism with threats of prosecution and criminal punishment.

“This abuse of the law for intimidation insults the most sacred principles and ideals of Jefferson. I can think of nothing more offensive to Jefferson’s thinking than using the power of the state to deprive Americans of their civil rights. The only conceivable purpose of Messrs. McCulloch, Obama and the others is to frighten people away from expressing themselves, to chill free and open debate, to suppress support and donations to conservative organizations targeted by this anti-civil rights, to strangle criticism of Mr. Obama, to suppress ads about his support of higher taxes, and to choke out criticism on television, radio, the Internet, blogs, e-mail and daily conversation about the election.

“Barack Obama needs to grow up. Leftist blogs and others in the press constantly say false things about me and my family. Usually, we ignore false and scurrilous accusations because the purveyors have no credibility. When necessary, we refute them. Enlisting Missouri law enforcement to intimidate people and kill free debate is reminiscent of the Sedition Acts – not a free society.”

Hat tip to Daniel Lowenstein.

28 Sep 2008

The Subprime Primer

Business, Economics, Mortgage Mess

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A slideshow presentation by a ‘07 Yale grad who recently had the job of a lifetime at Lehman.

link

Hat tip to Stormin’ Norman.

27 Sep 2008

Endangered Species: Manhattan Republicans

2008 Election, Liberal Tolerance, New York, The Elect, The Intelligentsia, The Left, Upper West Side

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The People’s Cube documents the reaction of Manhattan Upper West Siders to the passage of a McCain Campaign march through a local street fair.

The number of middle fingers in a “progressive” crowd is directly proportional to the number of PhD degrees in the ten block radius.

5:00 video

via Rusty Shackleford.

27 Sep 2008

Kissinger Rejects Obama’s Claimed Agreement

Barack Obama, Diplomacy, Foreign Policy, Henry Kissinger

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Watchers of last night’s debate were bound to wonder if Henry Kissinger really told Barack Obama he agreed with him on presidential meetings held without preconditions with leaders of the world’s most hostile and unsavory regimes.

Stephen Hayes clears this one up.


Henry Kissinger believes Barack Obama misstated his views on diplomacy with US adversaries and is not happy about being mischaracterized. He says: “Senator McCain is right. I would not recommend the next President of the United States engage in talks with Iran at the Presidential level. My views on this issue are entirely compatible with the views of my friend Senator John McCain. We do not agree on everything, but we do agree that any negotiations with Iran must be geared to reality.”

26 Sep 2008

Sarah Palin Beauty Pageant Video

Sarah Palin, The Huffington Post, Videos

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The Huffington Post isn’t all bad.

Not only do they entertain us by publishing the rants of some of the silliest and most self important representatives of the community of fashion, why! here they’ve done the patriotic thing and posted a 0:37 video of Sarah Palin (née Heath)’s swimsuit appearance in the 1984 Miss Alaska Pageant.

26 Sep 2008

Ten Economists on the Bailout

Business, Economics, Mortgage Mess

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Reason poses the following three questions to ten free market economists.


1. How bad is the current market situation?

2. How bad are the current proposed bailout plans?

3. What’s the one thing we should be doing that we’re not?

26 Sep 2008

Brooks Evaluating McCain

2008 Election, David Brooks, John McCain

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David Brooks takes a serious look at John McCain.


What disappoints me about the McCain campaign is it has no central argument. I had hoped that he would create a grand narrative explaining how the United States is fundamentally unprepared for the 21st century and how McCain’s worldview is different.

McCain has not made that sort of all-encompassing argument, so his proposals don’t add up to more than the sum of their parts. Without a groundbreaking argument about why he is different, he’s had to rely on tactical gimmicks to stay afloat. He has no frame to organize his response when financial and other crises pop up.

He has no overarching argument in part because of his Senate training and the tendency to take issues on one at a time — in part, because of the foolish decision to run a traditional right-left campaign against Obama and, in part, because McCain has never really resolved the contradiction between the Barry Goldwater and Teddy Roosevelt sides of his worldview. One day he’s a small-government Western conservative; the next he’s a Bull Moose progressive. The two don’t add up — as we’ve seen in his uneven reaction to the financial crisis.

Nonetheless, when people try to tell me that the McCain on the campaign trail is the real McCain and the one who came before was fake, I just say, baloney. I saw him. A half-century of evidence is there.

If McCain is elected, he will retain his instinct for the hard challenge. With that Greatest Generation style of his, he will run the least partisan administration in recent times. He is not a sophisticated conceptual thinker, but he is a good judge of character. He is not an organized administrator, but he has become a practiced legislative craftsman. He is, above all — and this is completely impossible to convey in the midst of a campaign — a serious man prone to serious things.

26 Sep 2008

Obama Fights Back with Threats of Censorship and Lies

2008 Election, Barack Obama, Gun Control, National Rifle Association, Political Commercials

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The Obama campaign’s attempt to respond to a National Rifle Association attack ad with dishonest quibbling combined with attempts at intimidation through use of government regulatory power provides an alarming sample of what a future Obama administration’s governing style might be like.

Allahpundit has the video and details.

It seems astonishing that democrat campaign professionals are so willing to believe that sportsmen and gun owners can be bamboozled by a few disingenuous protestations of support for a right to private gun ownership which has actually been a dead-letter in Obama’s home state of Illinois for years.

Obama has been consistently a supporter of the sort of gun ownership rights (from his point of view) currently regrettably still in legal existence, temporarily representing the residuum of private liberty awaiting elimination via future regulatory measures not yet presently politically achievable.

25 Sep 2008

Must Huckleberry Finn Be Banned?

Adventures of Huckleberry Finn, Books, Connecticut, Education, Mark Twain, Political Correctness

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Over its century and a quarter of existence, Mark Twain’s Adventures of Huckleberry Finn has been generally recognized as one of the special pinnacles of the American canon, yet at the same time the book has retained a unique capacity to provoke the alarm and indignation of the godly by its failures in decorum.

Long ago, the problems were coarse language and unseemly racial fraternization. Today, it’s politically incorrect language, the dreaded N word, and a vital portrait of a racially unequal society and unequal characters which provokes the wrath of the Philistines.

Can such a corrupting and subversive book possibly be permitted to appear on reading lists in respectable American schools?

The Manchester, Connecticut school system bravely wrestled with the thorny problem, and devised a bold answer. Huck Finn could stay, but teachers must first attend special seminars instructing them in exactly how to frame and properly civilize the unruly text.

Personally, I think that Huck ought to jump back on the raft and sail off down the Connecticut River for the territories.

Eyewitness News 3

24 Sep 2008

Nigerian Billionaire to Aid US Banks

Humor, Mortgage Mess

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BBSpot has the story:


Nigerian philanthropic billionaire Esenam Ayele said that he would make $80 billion dollars available to US banks from his accounts in Nigeria. All he needed to transfer the funds was a trusted associate at the bank.

It couldn’t come at a better time for Wall Street as the bankruptcy of Lehman Brothers, the sale of Merrill Lynch and government bailout of AIG has left markets tumbling with no bottom in site. The guaranteed funds should bring some stability back to financial institutions.

Treasury Secretary Hank Paulson said Ayele could be trusted. “I know he’s had problems in the past with people believing him, but I assured the folks over at Washington Mutual that he was for real.”

Ayele, who has returned to wealth with the rise in oil prices, said from his palace in Lagos, “I just need someone to fax me a copy of the transfer codes on some bank stationery, and I’ll get the money right over.”

He added that his widowed sister also had more funds she could transfer out of the country which she inherited from Prince Ugube of Tanzania. “She just as helpful as I am, but she’s unable to come to the United States because of a visa issue. If somebody could just send her a cashier’s check for $1000, she’ll be able to clear everything up and transfer the funds.”

The American government would rather have private funds involved as to not create the appearance that taxpayers will rescue every bank from dumb mistakes.

“I’m glad I can be of service,” said Ayele. “The American people have done so much for me. I’m thankful to return the favor.”

The Dow Jones Industrial Average was down 1,458 points on the news.

24 Sep 2008

“Coal Miner Joe” Says No! to Coal

2008 Election, Coal, Energy, Gaffes, Joseph Biden

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Ben Smith identifies a hundred eighty degree policy reversal made by Joe Biden in one 72-hour period.


Some great rope line video from Joe Biden’s recent Ohio swing, where he was asked by an anti-pollution campaigner about clean coal—a controversial approach in Democratic circles for which Obama has voiced support, particularly during the Kentucky primary.

Biden’s apparent answer: He supports clean coal for China, but not for the United States.

“No coal plants here in America,” he said. “Build them, if they’re going to build them, over there. Make them clean.”

“We’re not supporting clean coal,” he said of himself and Obama. They do, on paper, support clean coal.

The answer seems to play into John McCain’s case that Obama has been saying “no” to new sources of energy.

0:53 video


Today, Senator John McCain pounced on Biden’s remarks.

“I am going to put in place the priorities and policies that will create jobs in Ohio. One important way that we are going to create jobs here is with the development of additional nuclear plants and through investments in clean coal technology,” he said. “[Obama’s] running mate here in Ohio recently said that they weren’t supporting clean coal.”

Biden spokesman David Wade responded by calling McCain’s statement “yet another false attack from a dishonorable campaign.”

He continued: “Senator McCain knows that Senator Obama and Senator Biden support clean coal technology. Senator Biden’s point is that China is building coal plants with outdated technology every day, and the United States needs to lead by developing clean coal technologies.”

But the error here does seem to be Biden’s, and his remarks, and his apparent return to his primary position Tuesday, were striking because just three days ago, he praised the possibilities of coal to a crowd at the United Mine Workers of America annual fish fry in Castlewood, Va.

“You know we have enough coal in the United States of America to meet out needs domestically for the better part of the next hundred to 200 years,” Biden said before launching into a critique of McCain’s energy priorities, slamming his support for billions in tax breaks for oil companies as the industry rakes in record profits.

“Imagine … what Barack and I can do taking that $4 billion … and investing it in coal gasification, finding out what we can do with carbon sequestration, finding out how we can burn the coal that you dig that can free us from being dependent on foreign oil countries and at the same time not ruin the environment. That’s within our capacity to do it, if you give me $4 billion I promise you, I promise you we will find the answer,” Biden said.

He linked the ticket’s support for coal with their call to have U.S. automakers produce plug-in electric cars. “Where’s that [electricity] come from? That comes from a utility. What do utilities burn? They burn coal mostly.”

Southwest Virginia UMWA members are just too dumb to notice what he says in a different state, Biden obviously surmises.

23 Sep 2008

Death at Lehman

Business, Lehman Brothers, Mortgage Mess

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New York Magazine describes what it’s like for Manhattan’s financial elite when the music suddenly stops.


The Trader had come to Lehman only a year ago, after being recruited from a rival firm. He’d studied physics as a grad student, then come to Wall Street as the tech bubble and the aggressive gentrification of the Giuliani years remade Manhattan into a banker’s playground, a place where a $2 million salary could seem like the norm.

Like many on Wall Street, the Trader’s career was moving along briskly. By 2006, he had settled into a new $2 million house in Connecticut with a pool, and kept a pied-à-terre in Manhattan. With two young children, he had private-school tuition to cover. He had recently completed a home renovation, and now there was talk of a new porch with a built-in stainless-steel barbecue. The Trader estimated that he was two years from making enough money to retire and never have to work again.

By Saturday, September 13, Lehman Brothers teetered on the precipice of bankruptcy after Barclays and Bank of America walked away from a deal. The Trader was certain of little, except that he was a lot poorer. The unvested stock from his previous year’s bonus, once worth $3 million, was now reduced to a scant $6,000. And on Wall Street, self-worth and net worth can amount to the same thing. “The hardest thing in my mind is to have your compensation cut,” a veteran Wall Street executive says. “It’s almost like you’re a bad person.”

At a dinner party in Darien that evening, the conversation was a mix of denial and panic. An executive from UBS lamented what the Lehman meltdown would mean for Wall Street. “This is going to be a disaster,” the executive said. The executive’s wife nervously tried to steer the topic toward lighter subjects. She kept talking about summer vacation. And then she turned to the Trader and asked, “What do you do?”

The collapse of the world’s most powerful wealth-creating engine required everyone to take stock of their financials. One Lehman executive in Rye Brook, fretting about paying off a Hamptons summer house and a ski chalet in Vermont, panicked on Monday morning and laid off her nanny, who had been with the Westchester family for nine years. “The nanny called me crying,” says Marla Sanders, who runs Advance Nannies and staffs Lehman homes. “One of the children she had brought home from the hospital.” Sanders knows more cuts for her clients are on the way. “They’re going to have to sell homes. The question is, will the homes sell? They’re cutting some of the children’s activities out, dance class, acting class. Are they going to have flowers delivered every day to their homes? I don’t think so!”

23 Sep 2008

Yes, You Were Robbed

Business, Congress, Corruption, Mortgage Mess

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John Steele Gordon identifies the guilty parties behind the Fannie Mae-Freddie Mac collapse.


At the heart of the problem is Congress and its deeply corrupt relationship with Fannie Mae and Freddie Mac. Congress was equally at the heart of the savings and loan disaster 20 years ago and, obviously, learned nothing from it. (For a history of what led to the savings and loan collapse, see here.)

Fannie and Freddie, two of the largest publicly traded financial institutions on earth, are headquartered in Washington, D.C., where the next-largest non-governmental financial institution is probably a local credit union. Big financial companies are headquartered in New York and other cities where capitalism is practiced. That should tell you a lot about Freddie and Fannie: they were political to their fingertips.

Being “government sponsored entities,” they were able to borrow at lower interest rates than other profit-seeking companies, had less regulation, had lower capital requirements, and had an “implied” guarantee on their huge debts. This was supposed to translate into more money available for mortgages, but was used instead to roll up big profits and, not so incidentally, big bonuses for their top management — which came not from the financial world but from the political one.

Franklin Raines, Fannie C.E.O. from 1999 to 2004, had been budget director in the Clinton White House. He cooked the books at Fannie to increase his compensation (more than $50 million). Jamie Gorelick, vice C.E.O., was number two at the Clinton Justice Department before going to Fannie Mae. She made $26 million. Jim Johnson, a perennial Washington big-foot, was chairman from 1991 to 1998. He too, according to an official government report, cooked the books to increase his compensation and failed to publicly reveal how much he received.

The Wall Street Journal editorial page has been giving chapter and verse for years on why this was a disaster waiting to happen (Pulitzer Prize judges, please note). The Bush administration tried way back in 2003 to change the system. It got nowhere. Alan Greenspan, then the chairman of the Federal Reserve, frequently noted the danger of Fannie and Freddie’s weak capitalization. He was ignored. Congressman Mike Oxley, then chairman of the House Financial Services Committee, introduced a bill in 2005 to correct the situation. Lobbyists from Fannie and Freddie succeeded in gutting it to the point that Rep. Oxley pulled the bill.

Why were Fannie and Freddie so successful at maintaining the status quo? Check it out.

Senator Chris Dodd — formerly ranking member and now chairman of the Senate Banking Committee, with oversight over Freddie and Fannie — recently said on Bloomberg Television: “I have a lot of questions about where was the administration over the last eight years.”

Excuse me? Just where the hell were you, Senator? Oh, right. You were standing in line at the bank in order to deposit the political contributions Fannie and Freddie were lavishing upon you. At least they got their money’s worth — until the party ended and the American people got the bill.

Members of Congress — aided and abetted by their many waterbearers in the media — wonder why their collective approval rating is about on par with colon cancer’s. The reason is simple enough: Congress is the sick man of Washington; a textbook example of the truism that institutions tend to evolve in ways that benefit their elites, at the expense of the people they were created to serve.

22 Sep 2008

Gallup Massages the Numbers for Obama

2008 Election, Barack Obama, Calculators, Damned Lies, Economists, Lies, Media Bias, Polling, Polls, Sophisters, Statistics

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D.J. Drummond, at Wizbang, explains Obama’s miraculous recovery in Gallup’s Polls.


Obama’s support goes up and down, but the Liberal and Moderate Democrat support for Obama has been steady all of September. Odd, isn’t it? And support for Obama among Conservative Democrats went down four points in the last week, even though his overall support is supposed to have gone up four points. How to figure that?

Perhaps it’s in the Independents. ...

Hmmm, again. Obama gained support among Independents in the last month, but he actually lost two points among Independents in the last week. So that 4 point gain overall is still a mystery.

Nothing to do, then, but look at the Republicans. It would really be something if he’s improving support from GOP voters:

Ouch. Obama lost six points among Liberal and Moderate Republicans in the past week.

Conservative Republican support for Obama …

No change there in the past week.

Taken altogether, there is no group of political identification where Obama’s support has increased in the past week. Mathematically, therefore, there is only one way in which Gallup could show an increase in Obama’s overall support, when none of the party identification groups showed improvement for him.

Before I explain that possibility, I want to look at John McCain’s support by specific party identification groups. The man, according to Gallup, lost four points of overall support in the past week,

Conservative Republican support for McCain…

Interesting. McCain’s support among Conservative Republicans went up a point in the last week.

Wow, McCain’s support from Liberal and Moderate Republicans climbed by seven points in the past week, and yet we are told his overall support fell by four points? That is very odd, wouldn’t you say? It must have been the Independents, perhaps?

Independent support for McCain …

Stranger and stranger, McCain’s support among Independents went up by four points in the past week, just as his support from Republicans increased, yet we are told his overall support went down by four. Very hard to explain that using the math most of us learned in school, isn’t it? Well, there’s just one place left to look. Maybe somehow McCain used to have significant support among Democrats, but lost it? Let’s find out:

Conservative Democrat support for McCain …

Hmpf. Once again, a group where support for McCain went up (3%), but the overall says he went down.

Moderate Democrat support for McCain …

Steady there, so that one does not explain it.

Liberal Democrat support for McCain…

It’s only a point, but again we see McCain’s numbers in this group went up.

So, put it all together, and in the past week Obama has stayed steady or lost support in every party identification group, yet Gallup says his overall support went up four points. And McCain stayed steady or went up in every party identification group, yet we are supposed to accept the claim that his overall support went down by four points? Anyone have an answer for how that is even possible?

Well, actually I do. There is one, and only one, possible way that such a thing can happen mathematically. And that way, is that Gallup made major changes to the political affiliation weighting from the last week to now. Gallup has significantly increased the proportional weight of Democrat response and reduced the weight of Republican response.

Read the whole thing.

22 Sep 2008

Son Finds Father’s Korean War Garand

Garand, Guns, Korean War

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Minneapolis Star-Tribune

For Virgil Richardson’s 79th birthday, his son Jim searched Internet gun offerings and successfully located, via a dealer in Kentucky, the M1 Garand his father had carried during the Korean War, reuniting the aged rifleman with his rifle.

22 Sep 2008

“You Say You Want a Revolution?”

Bizarre, The Elect, The Huffington Post, The Intelligentsia, The Left

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Larisa Alexandrovna, at HuffPO, demonstrates that her political assimilation as a recent immigrant has been less than successful. Remedial work in both Civics and American History is in order.

Alexandrovna obviously never learned to understand the Electoral College system, and she is clearly unaware that the election of 2000 was the fourth in which the candidate with the larger number of popular votes was nonetheless defeated. If George W. Bush, as Alexandrovna alleges is “a man the citizens overwhelmingly rejected” on the basis of a .5% popular vote margin in his opponent’s favor, what would be her position on Bill Clinton who assumed the presidency despite a 4% larger margin of voters rejecting him than supporting him?

Huffington Post accepts opinion pieces from the oddest sources.

Here is a recent Russian Jewish immigrant, with a literary background, who has apparently sought asylum not in the normal America most of us inhabit, but in the deepest depths of the paranoid fever swamps of the left, who is now setting up shop to tell the rest of us Americans that we must make haste to impeach the current president (in the 5 remaining weeks before the next election) or there is no alternative to violent Revolution.


As I see it now, we have but two options and I have long alluded to hoping against hope that one of these options would not be the only one left to a peaceful people. The first and frankly most preferable option is for Congress to immediately begin impeachment proceedings against the members of this latest Business Plot.

No time needs to be wasted on hearings as we already now have in writing, formally as presented to Congress, the intentions of this administration to nullify Congressional powers permanently, to alter Judicial powers permanently, and to openly steal public funds using as blackmail the total collapse of the US economy if these powers are not handed over. You do see how this is blackmail, do you not? You do see how this is a manufactured crisis precisely designed to be used as blackmail, do you not?

The other option, the one I have long prayed we would never need to even consider, is a total revolution. But, If Congress won’t act in its own self-defense, in the defense of democracy, in defense of us – the people who have elected them to protect us from this very danger – then what is left for us to do? I don’t want to see it come down to this, but I fear that it will. Put your party politics aside right now. We are in a crisis so dangerous that should these people succeed in their coup, your party affiliation will no longer matter, your American flag will be a nice collectible item of something that once was, and your version of God will be worshiped in secrecy because your freedoms will be owned by the few.

Possibly this young lady may have insights on the work of stylistic geniuses like “Vladamir Nabkov” which are worthy of attention. She obviously is fundamentally incapable of approaching US political issues at any level more sophisticated than the repetition of leftie slogans and irrational raving.

Worse, she hasn’t even got the minimum intellectual integrity required to take political positions.

When she posted her bizarre “summons to the barricades” yesterday in response to the prospective federal bailout, she provoked a little feedback from elements of the right Blogosphere.

Jeff Goldstein identifies the young lady’s political perspective, accurately, as antidemocratic progressivism.


What the progressives want is a type of non-filial aristocracy — an aristocracy of region and school and manner and argot. Once established, this ruling class will act in the interests of all — at least, in the interests of all as those interests are defined by that ruling elite.

Voting, democracy… messy encumberances that keep those fit to lead from leading, all because too many US citizens are too stupid to vote in their own best interests. As decided upon by those who would rather the rubes not vote at all if they aren’t going to vote the “right” way. Hence the outrage when certain “types” wander off the liberal plantation.

This is the face of progressive fascism. Which for all its high-sounding political importance is, at heart, nothing more than temper tantrums being thrown by those who aren’t quite as clever as they’ve always been taught to believe.

Sad, really. But then, such is the burden of being an elite in this country. STOP HATING US BECAUSE WE’RE BETTER THAN YOU!

Further negative commentary was provided by Confederate Yankee, MacRanger, and others.

How did she respond to criticism? With the radical left’s customary defenses of insults, sneers, and foul language, and, ridiculously enough, with disingenuous “Who, me? I didn’t say any such thing!” protestations.

We need advice on politics from her?

21 Sep 2008

The Incredible Shrinking Obama

2008 Election, Barack Obama

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Rex Murphy, writing in the Canadian Globe And Mail, observes that the effulgent energy of the Obama candidacy came from sources external to itself, and seems to have entered an irreversible decline.


Most of the story of the campaign isn’t so much coming from the candidate himself as it is created by all those who, most in worshipful terms, have talked, written and reported on or about him. The Obama campaign is one great text generator, the grand fable of his fans.

In one sense, this is not surprising. He has a quicksilver quality. Even after two autobiographies, Mr. Obama remains something of a floating, uncrowded presence. His story (and he is so impressively self-aware as to have made the most acute comment on it) is temptingly open-ended, very much a page to be written on. He himself has written, most memorably: “I serve as a blank screen on which people of vastly different political stripes project their own views.”

That is as bold a statement as it is an insightful one. Bold, because it is a remarkable confession from a presidential hopeful. Insightful, because it matches the facts. There are not many personalities so fluid or vague on which an attempt to “project” a storyline would take hold. Imagine, for example, projecting a “rewrite” of Donald Rumsfeld. There’s too much of Mr. Rumsfeld already there to offer hospitality to new material.

Mr. Obama, however, has a kind of welcoming emptiness. Eager acolyte or stern observer, both find it difficult not to add, or project, the most flattering, even jubilant, fill-ins. The Obama candidacy, in its rocket-blast phase when he outsoared Hillary Clinton, drained the dictionaries of every superlative. The great “O” had them swooning in the stands. Why?

True, Oprah had passed her potent wand over him, but even the afternoon regent of a thousand therapies has stays on her sorcery. Mainly, his was very much a candidacy constructed by those who were drawn to him. If there was any meaning to that fortune-cookie poeticism that “we are the ones we have been waiting for,” it was that his campaign was a feedback loop. People saw what they came to see. Mr. Obama was the slate; the crowds brought their own chalk.

This is the nature of Mr. Obama’s particular kind of charisma. People project their best wishes on him, they fill in the blank of a very attractive and plausible outline. His is not, emphatically, a charisma of deeds. For what has he done, save run for president? He is an accommodating vessel – cool, smart, biracial and “unfinished.” This is the Gatsby quality of him that others have noted. Like Gatsby, he is a receptacle of others’ glamorous invention.

People see in him, or wish to see, the last great ideal of the American polity fulfilled, a final and full racial accommodation. That should he be elected president, America will have achieved, by his singular persona, the perfect emblematic demonstration of having exorcised at last the great stain of its racially riven origins.

Mr. Obama’s charisma is, in this sense, external, something extended to the candidate. And it follows that that which is given may equally be taken away. The sparkle has, in fact, dimmed. He travels now in a lower orbit, closer to Earth – which is to say, he grows more mundane. The great word “hope” sounds less frequently now. He picks a running mate thick with the dust and rancour of many long years in Washington.

His acceptance speech in the Olympic-style stadium could not gather the inspirational energy of his earlier arias. Of late, the flash supernova of U.S. politics is seen “competing” with a second-on-the-ticket female governor of a remote state. There’s more than a gap between the “audacity of hope” and “lipstick on a pig.” The mouth that spoke the first phrase should not be capable of the second.

He has shrunk into a combative partisan. He crowds his own screen, leaves less space for projection. Others are not writing his narrative now – he’s inscribing his own.

A candidacy that leached so much of its energy and drive from the imagination of others, Gatsby-like, is shedding its gift. The narrative stage is over. It’s all tactics from here on in.

21 Sep 2008

Joe Biden, Coal Miner

2008 Election, Anthracite Region, Joseph Biden, Lies

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Campaigning in Virginia coal country, Joe Biden actually described himself as “a coal miner” from the Northeastern Pennsylvania anthracite region.


In his first visit to Southwest Virginia, Democratic vice presidential nominee Joe Biden, speaking at the United Mine Workers’ annual fish fry here on Saturday, was quick to tout his ties to coal.

“I hope you won’t hold it against me, but I am a hard-coal miner, anthracite coal, Scranton, Pa.,” Biden said. “It’s nice to be back in coal country. … It’s a different accent [in Southwest Virginia] … but it’s the same deal. We were taught that our faith and our family was the only really important thing, and our faith and our family informed everything we did.”

Biden, a U.S. senator from Delaware, told the story of his great-grandfather, a mining engineer who was elected to the state Senate in 1904 and was rumored to be a Molly Maguire, a member of a secret organization tied to union activism and crime in the Pennsylvania coalfields in the 19th century.

“He went out of his way to prove that he wasn’t, and we were all praying that he was,” he said.

The mines closed when Joe Biden and I were kids. Biden obviously was never a coal miner personally. Still, those of us from miner’s families do identify with a certain kind of culture and tradition, and consider ourselves connected to our father’s and grandfathers’ lives of hardship, danger, and hard labor.

Joe Biden moved from Scranton to the Delaware suburbs at the age of ten. Biden campaigns on his purported coal mining, Roman Catholic roots, but his politics have always been upper middle class suburban liberal.

I haven’t read Biden’s autobiography, but Ann Coulter has, and she reports that Biden tells a very different story there.


According to Vice Plagiarist Biden’s own autobiography, his father was to the manor born. Biden’s grandfather was an executive with the American Oil Co., and his father had all the advantages in life. “My dad,” Biden writes in “Promises to Keep,” “grew up well polished by gentlemanly pursuits. He would ride to the hounds, drive fast, fly airplanes. He knew good clothes, fine horses, the newest dance steps.”

21 Sep 2008

Obama Loves Misery

Barack Obama, Mortgage Mess, Saul Alinsky, The Left

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Obama’s bump in the polls derived from the financial market’s meltdown is perfectly in accord with the tradition of radical leftist agitation in which his philosophy and political career are rooted, Bruce Walker explains at American Thinker.


Obama seems happier these days. It is almost as if the disembodied spirit of his mentor, Saul Alinsky, is watching and smiling. Americans are suffering. Losses in the stock market, panic in the financial market, pain at the gas pump and in the grocery—all these miseries of average Americans are a delicious narcotic to socialists like Barack Obama.

What was the historic maxim of the Left? “The worse, the better.” Alinsky said that if there was an afterlife, “I will unreservedly choose to go to hell.” This is the man whose mind guides Obama’s thoughts.

Americans ought to ponder that before electing a man who thrives politically—the sphere of his life that really matter to him—on the unhappiness, helplessness, and hopelessness of his fellow citizens.

Read the whole thing.

20 Sep 2008

Always the Unforseen

Business, Economics, Federal Reserve, Government, Mortgage Mess, Regulation

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Investors Business Daily
observes that, although the left is ready to blame the subprime fiasco on an insufficiency of regulation, as lenders eliminated credit standards, government was right there encouraging their actions.


Commercial banks threw lending standards out the window in their rush to get new business. Like S&Ls of the 1980s, they would have gone wild without Gramm-Leach-Bliley. Washington, if anything, egged them on, but not because of free-market dogma. Banks and mortgage brokers were pumping up the homeownership numbers in America, and politicians were eager to take credit for that.

Wall Street, meanwhile, became a victim of its own innovation. It created new classes of derivative investments that spread — and, through leverage, amplified — the risk from the subprime mortgages produced by the banks. A new multitrillion-dollar market emerged almost overnight, lacking in transparency and reliable price signals. With their asset values in doubt, investment banks lurched toward insolvency.

If regulators failed here, it wasn’t because of policies adopted years before. It was more of the same story that has played itself out over and over in modern finance: Innovation races ahead of the rules. Crises tend to take almost everyone by surprise — including the major players as well as the regulators.

Read the whole thing.

20 Sep 2008

Biden’s Patriotism

Joseph Biden, Learned Hand, Patriotism, Taxes

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Learned Hand 1872-1961

Judge Learned Hand: Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one’s taxes.

-Helvering v. Gregory, 69 F.2d 809, 810-11 (2d Cir. 1934)

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Hat tip to John Brewer.

19 Sep 2008

History and Bush

Bush-hatred, George W. Bush, History

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Charles Krauthammer argues that George W. Bush is like Truman, a president whose virtues and accomplishments will be better regarded by History than they were by his contemporary countrymen.


When I asked the president about his one unambiguous achievement, keeping us safe for seven years—about 6 1/2 years longer than anybody thought possible at the time of 9/11—he was quick to credit both the soldiers keeping the enemy at bay abroad and the posse of law enforcement and intelligence officials hardening our defenses at home.

But he alluded also to some of the measures he had undertaken, including “listening in on the enemy” and “asking hardened killers about their plans.” The CIA has already told us that interrogation of high-value terrorists like Khalid Sheik Mohammed yielded more valuable intelligence than any other source. In talking about these measures, the president mentioned neither this testimony as to their efficacy nor the campaign of vilification against him that these measures occasioned. More equanimity still.

What the president did note with some pride, however, is that beyond preventing a second attack, he is bequeathing to his successor the kinds of powers and institutions the next president will need to prevent further attack and successfully prosecute the long war. And indeed, he does leave behind a Department of Homeland Security, reorganized intelligence services with newly developed capacities to share information, and a revised FISA regime that grants broader and modernized wiretapping authority.

In this respect, Bush is much like Truman, who developed the sinews of war for a new era (the Department of Defense, the CIA, the NSA), expanded the powers of the presidency, established a new doctrine for active intervention abroad, and ultimately engaged in a war (Korea)—also absent an attack on the U.S.—that proved highly unpopular.

So unpopular that Truman left office disparaged and highly out of favor. History has revised that verdict. I have little doubt that Bush will be the subject of a similar reconsideration.

I agree that Bush shares Truman’s modesty, courage, and absence of pretension, but I think following the Truman model of limited war, featuring burdens and sacrifices borne by few, absence of public involvement, lack of identification of the terms of victory, and wholesale failure to rebuke or even deter domestic treason, ought to be understood by now to represent a less than morally ideal gamble in real politik, one wagering the lives of patriotic Americans in the hope of attaining a low cost resolution of a security crisis.

19 Sep 2008

On Vacation

Blog Administration

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The editor has been off-line for a day due to illness.

17 Sep 2008

Was It Bush’s Fault?

Business, Democrats, Economics, Mortgage Mess, Politics

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Virginia Shanahan, writing at MacsMind, has a longer memory than most of us, and cites a NY Times article from 2003 recalling that the Bush administration actually foresaw problems, and tried reforming Fannie Mae and Freddie Mac, but his efforts were blocked. By whom? The same democrats who now possess a Congressional majority. With current Chairman of the House Financial Services Committee, Massachusetts’ own Barney Frank playing a leading role.


I doubt many of the readers recall this article from the New York Times five years ago.

    The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

    Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

    The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

    The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac — which together have issued more than $1.5 trillion in outstanding debt — is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.

We can see now that the Bush administration had accurately diagnosed the problem in the lending market and had a plan to address it. Reluctantly Fannie Mae and Freddie Mac supported the plan. However, Democrats objected.

    Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.

    ”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ”The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”

    Representative Melvin L. Watt, Democrat of North Carolina, agreed.

    ”I don’t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,” Mr. Watt said.

17 Sep 2008

Simple Explanation of the Mortgage Crisis

Business, Economics, Mortgage Mess

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Panopticon explains the tale of Asset-Backed Securities (ABS), tranches of risk, Collateralised Debt Obligations (low tranche ABS) repackaged and marketed at higher ratings, Adjustable-Rate Mortgages, and No Documentation Loans. Making mortgage loans was really profitable, the federal government wanted home ownership made more accessible, and real estate prices only go up, after all. What could possibly go wrong?
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Hat tip to Karen L. Myers.

17 Sep 2008

NY Post’s “Obama Tried Stalling US Troops’ Iraq Withdrawal” Story Confirmed

2008 Election, Barack Obama, Iraq, New York Post, War on Terror

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Original NY Post story.

Washington Prowler:


The Obama campaign spent more than five hours on Monday attempting to figure out the best refutation of the explosive New York Post report that quoted Iraqi Foreign Minister Hoshyar Zebari as saying that Barack Obama during his July visit to Baghdad demanded that Iraq not negotiate with the Bush Administration on the withdrawal of American troops. Instead, he asked that they delay such negotiations until after the presidential handover at the end of January.

The three problems, according to campaign sources: The report was true, there were at least three other people in the room with Obama and Zebari to confirm the conversation, and there was concern that there were enough aggressive reporters based in Baghdad with the sources to confirm the conversation that to deny the comments would create a bigger problem.

Instead, Obama’s national security spokeswoman Wendy Morigi told reporters that Obama told the Iraqis that they should not rush through what she termed a “Strategic Framework Agreement” governing the future of U.S. forces until after President Bush left office. In other words, the Iraqis should not negotiate an American troop withdrawal.

According to a Senate staffer working for Sen. Joseph Biden, Biden himself got involved in the shaping of the statement. “The whole reason he’s on the ticket is the foreign policy insight,” explained the staffer.

16 Sep 2008

The Problem Is Not What You Don’t Know – It’s What You Know That Isn’t So

Bush Doctrine, Media Bias, Sarah Palin, The Elect, The Intelligentsia, The Punditocracy

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Bradley Burston, winner of the the Eliav-Sartawi award for Middle East journalism

Bradley Burston, award-winning member of the chin-stroking International liberal commentariat, provides a very striking illustration of the truth of the old rustic apothegm in his What is truly frightening about Sarah Palin editorial.


It was in the taxicab this morning that it finally struck me about Sarah Palin.

I get it. I get that millions of Americans have a crying need for someone to stand up and say the things that Sarah Palin has been telling them.

I get that many, many Americans are fed up with big government and shame in patriotism and energy dependence and media condescension. I recognize that there are many on the right who are galvanized by a woman addressing the nation in condemnation of gun control and abortions. It’s clear that many in the heartland and even on the Blue State coasts have been waiting years to hear someone take a take-no-prisoners verbal lash to Beltway waste and liberal political correctness and, by implication, to cultural pluralism and tree hugging and the very mention of the word Washington.

But it wasn’t until I got into the taxicab this morning, that I realized what the American voter truly faces this November.

The radio was playing a clip from her ABC News interview, the one in which she was asked about the Bush Doctrine.

The problem was not that she was unacquainted with the doctrine. Millions of Americans are unacquainted with it.

The problem is that Sarah Palin was also asking those millions of Americans to put her first in line for the most important position in humankind. ...

Asked during the interview if she had the ability and the experience to serve as president of the United States, she replied without hesitation, without reservation, without contemplation – and without knowing, on a profound level, what that would, in fact, entail. “I’m ready.”

Here is the answer that is truly frightening. It lets us know that the nation may be in danger of electing another leader bearing the most profound of George Bush’s shortcomings: blindness to one’s own shortcomings.

Blindness, that is, to the breadth and depth and height and shape of what one does not know. Say what you will about Donald Rumsfeld, the former defense secretary knew an unknown unknown when he saw one. Sarah Palin, for whom appearance is understandably significant, has one in her mirror.

But what about Bradley Buston’s blindness to his own shortcomings: his unjustified certitude, his complacency, his arrogance, and his misinformedness?

First of all, George W. Bush never identified any proposition as the “Bush Doctrine.”

That there is a Bush Doctrine at all is a pure journalistic invention, and wide-spread disagreement exists as to which of several formulations represents the alleged Bush Doctrine. Even how many alternative Bush Doctrines have been referred to is uncertain.

Charles Krauthammer, who claims to have been the first to use the phrase, identifies four versions of the Bush Doctrine.

Michael Abramowitz, in the Washington Post, quotes Paul D. Feaver, a member of the National Security Council, as having identified seven versions. Wikipedia used to agree, stating, as of September 13th:

The Bush Doctrine is a journalistic term used to describe some foreign policy principles of United States president George W. Bush, enunciated in the wake of the September 11, 2001 attacks. Scholars identify seven different “Bush Doctrines.”

But this inconvenient portion of the discussion has been edited away and the entry locked to prohibit further alterations. The old text is presently visible in Google.

This little case of journalistic malpractice could serve beautifully as a metonymy for the numberless cases of factual error, false interpretation, and complete misstatement served up by the establishment journalistic community as Truth and Wisdom during the Bush Administration’s years in office.

16 Sep 2008

When Obama Loses

2008 Election, Barack Obama, Democrats, The Left

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Russ Smith feels the time has come to start discussing the unthinkable.


It’s three a.m. on Oct. 31 and a frantic broker awakens you. He’s advising making substantial investments that day in the stocks of Lilly, Pfizer and other manufacturers of anti-depressants, as well as high-end booze, say Grey Goose vodka and Hillary Clinton’s whiskey of choice, Chivas Regal. The calculations buzzing through your head are not insignificant. Barack Obama holds a two-point lead over John McCain in the Gallup poll for the Nov. 4 presidential election, and that slender margin suggests—given the undeniable factor of racism when Americans retreat to the privacy of the ballot booth—that for the third straight time a Democratic candidate will be defeated. Your own preference in the contest is irrelevant: there’s money lying on the table and only a fool would ignore the market’s indications.

A month ago, as any honest Democrat will tell you, this scenario was nearly inconceivable. The Republicans had nominated an elderly and inarticulate candidate in McCain, who was marred not only by his association with George Bush, but distrusted by the critical conservative base as well. ..

In mid-September the GOP resurrection is a simple reality, and though I dislike the cliché “a month in politics is a lifetime,” no one has any idea of how Americans will vote on Election Day. But the fear expressed by a “major Democratic fundraiser” in Politico last week—“I’m so depressed. It’s happening again. It’s a nightmare.”—isn’t isolated and won’t subside unless Obama, to quote a Matt Drudge headline, “gets his groove back.”

I have no clue if or when that could happen, but I do have an opinion of what will follow in this country if McCain pulls off what so recently seemed the miraculous feat of becoming the country’s 44th president. Voter fraud, conspiracy, “sleazevertisements” (the preferred term of many left-wing bloggers), disenfranchised voters, the return of redneck chic; those will be the immediate cries of Democrats who thought the election was in the bag. Once again, scores of celebrities will claim they’re moving abroad (and inevitably won’t). And then the depression will kick in hard.

New York magazine columnist Kurt Andersen, one of the few Beltway-Boston pundits who bashed Hillary Clinton a year ago, when her nomination appeared inevitable, was unstinting in his speculation of the fallout should Obama lose. He emailed me: “Even without post-November 4th rumors of rigged voting machines and the like, an Obama loss will be a deeply, traumatically depressing event for Democrats and other Obama enthusiasts. (Whereas if McCain loses, who will be seriously bummed outside of the McCain household?) There will be so many facets of potential unhappiness. That an eloquent, inspiring, intelligent, subtle black candidate lost—and if it’s close, it’ll be true that racism beat him… That the rest of the world will be reaffirmed in their belief that America is the land of nincompoops (or worse). That a war with Iran looks a lot likelier… That Sarah Palin won it for the Republicans, and gives a bad name to feminism and (terrifyingly) has a one-in-six (Russian roulette!) chance of becoming president before 2013.”

Tom Bevan, co-founder of Real Clear Politics, was succinct: “Two words: Hari Kari. The base of the [Democratic] party is so vested in its nominee…that to lose in November would be one of the most demoralizingin the modern era.”

Read the whole thing.

16 Sep 2008

Henny Penny Goes Carbon-Free

Global Warming, Popular Delusions, Satire

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Peter Hannaford reports in the American Spectator.


Months had passed since we last talked with Ms. Henny-Penny, whose famous declaration—“the sky is falling!”—electrified the world. At the time, her barnyard colleagues quickly fell into line with her, save one, Chicken Little, who demurred. When last Ms. H-P and I talked, she scoffed at her former friend as a “denier.”

So, the other day I called her to see how she was doing as the recording secretary of what was now the Holy Order of the Sky is Falling, the Hon. Al Gore, pontiff.

“I’m fine,” she said, “but more importantly, Mr. Gore pontificated at a recent gathering in Washington and it was thrilling. He said we could switch all of the nation’s electricity production to wind, solar and other carbon-free sources within 10 years.” Does he have any experts to back up that assertion, I asked. “Oh yes,” she said. “Just the other day Nancy Pelosi at a news conference said the very same thing.”

“Hmm,” I replied. “Solar power now provides one-tenth of one percent of our electricity, with wind not much more. How do you propose to accomplish this feat?” “That’s easy,” she said, “Everyone will follow our motto: a windmill on every automobile and a solar panel on every roof.”

I reminded her that experts have estimated it would take about $100,000 to make the average house capable of getting 100 percent of its electricity from solar panels and that wind technology for automobiles was a gleam in her eye. How would she pay for all this?

“That’s not so hard as it sounds,” she said with a chuckle (or cluckle). Once President Obama is in office, Pontiff Gore will simply ask him to increase the windfall profits tax on oil production, the corporation taxes, the Social Security taxes and the income tax rates beyond what he’s already said he would do. As for wind-driven car, we’ll just ask Nancy Pelosi and Harry Reid to pass bills requiring it. American ingenuity will do the rest.”

Read the whole thing.

16 Sep 2008

Russian Satanists Kill and Eat Four Teens

Bizarre, Crime, Russia, Satanism, The Left

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The Sun reported about the character of the cult:


Devil worshippers believe in putting themselves first and their core values include pride, indulgence, ambition and meeting sexual desires.

“How exactly would that make them different from our own liberals?” My wife wondered aloud, reading the story linked by Drudge.

16 Sep 2008

No 9/11 Tape this Year: Jihadi Forums Knocked Off-Line

9/11, Al Qaeda, Hackers, Hacking, Technology, The Internet

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The Hindustan Times says Rusty Shackleford and Aaron Weissburd did it.

They both say they didn’t, and also that they wouldn’t tell you if they did.

15 Sep 2008

She Had Better Be Ready to Be VP Then

2008 Election, Barack Obama, John McCain, Sarah Palin

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Rasmussen reports that 52% of voters polled think Sarah Palin is not ready to president.

But while 63% say John McCain is ready to be president, only 44% think Obama has the necessary experience. Do the math.

15 Sep 2008

Obama Embellished His Resume

2008 Election, Barack Obama

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According to a former co-worker, in his Autobiography, Barack Obama seriously inflated the status of the company he worked for many years ago, and the scope of his responsibilities.

It’s a fairly trivial issue, of course. Most people remember this sort of life episode in a manner advantageous to their own egos. But it does remind us all of the necessity of taking Barack Obama’s testimony about his life and accomplishments with a grain of salt.

Steve Gilbert found all this published way back in 2005.


Like I said, I’m a fan. His famous keynote speech at the Democratic National Convention moved me to tears. The Democrats – not to mention America – need a mixed-race spokesperson who can connect to both urban blacks and rural whites, who has the credibility to challenge the status quo on issues ranging from misogynistic rap to unfair school funding.

And yet I’m disappointed. Barack’s story may be true, but many of the facts are not. His larger narrative purpose requires him to embellish his role. I don’t buy it. Just as I can’t be inspired by Steve Jobs now that I know how dishonest he is, I can’t listen uncritically to Barack Obama now that I know he’s willing to bend the facts to his purpose.

Once, when I applied for a marketing job at a big accounting firm, my then-supervisor called HR to say that I had exaggerated something on my resume. I didn’t agree, but I also didn’t get the job. But when Barack Obama invents facts in a book ranked No. 8 on the NY Times nonfiction list, it not only fails to be noticed but it helps elevate him into the national political pantheon.

15 Sep 2008

Get the Geezers Off Those Bikes

Bicycles, Black Bear, Colorado, Highway Safety, Montana

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Is there any sight more ridiculous than some aging baby boomer peddling away in his spandex outfit and insectoid helmet on a bicycle? Bicycles are alright for small boys to use on paper routes or to get to the park to play baseball, but their use as a fitness tool by aging hippies is unseemly and undignified and only results in inconvenience to motorists and unnecessary accidents.

Not even the bears in the Rocky Mountain West are safe these days.

Last Thursday, UPI reports:


A 57-year-old man in Missoula, Mont., says he is lucky to be alive after accidentally crashing his bicycle into the side of a wild bear.

Middle school teacher Jim Litz said while he is no stranger to seeing bears during his daily commute along an area dirt road, this week he didn’t’ have time to avoid one of the wild animals that had wandered into his way, The (Missoula, Mont.) Missoulian said Thursday.

“I didn’t have time to respond. I never even hit my brakes,” Litz said of Monday’s accident.

The teacher said after the impact flipped him off his bike, the bear began clawing at him apparently in confusion and anger. That attack left Litz with scratches and bruises along most of his body.

While Litz admits to being sore and a bit clawed up following the unexpected crash, he says he is lucky to have survived the incident and holds no ill will toward the animal.

“I was lucky. I was truly lucky, because I accosted the bear and he let me live,” he told the Missoulian. “I truly respect them. They’re beautiful creatures.”

That bear may be “a beautiful creature,” but a spindle-shanked, potbellied goofball in day-glo spandex certainly is not.
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Last June, there was another incident of the same kind in Colorado, as the Rocky Mountain News reports:


A cyclist in Boulder County was injured after a run-in, literally, with a bear.

Tim Egan, 53, was riding on Old Stage Road Tuesday afternoon when suddenly a bear appeared in front of him. Egan hit the bear and ended up skidding across the road.

“This bear looked at me with a look of terror on his face and sort of made a noise,” said Egan. “I looked at him with a look of terror and we went, ‘aaaahhhhh.’”

He cracked some ribs, suffered cuts on his head and had road rash. Egan said he and the bike flipped and flew over the bear, hitting the pavement hard.

The bear ran away after the accident when a deer appeared.

Egan’s nephew ran to help the injured cyclist.

“When I tell people, they say ‘Right, are you kidding me, who hits a bear?’”

Egan estimated he was going about 45 miles per hour at impact. He said the bear was about 6 feet tall and probably weighed 500 pounds.

When are these bears going to wise up? A fully-digested bicyclist is a safe bicyclist, I always say.
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Hat tip to Karen L. Myers.

15 Sep 2008

Lehman Filed For Bankrupcy But the Rest of Us Have Not

2008 Election, Business, Economics, Media Bias, Mortgage Mess, Politics

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Donald Luskin, in yesterday’s Washington Post, points out that politicians and reporters have a personal interest in exaggerating the scope and dimensions of current economic woes.


Do a Google News search for “since the Great Depression,” and you come up with more than 4,500 examples of the phrase’s use in just the past month.

But that doesn’t make any of it true. Things today just aren’t that bad. Sure, there are trouble spots in the economy, as the government takeover of mortgage giants Fannie Mae and Freddie Mac, and jitters about Wall Street firm Lehman Brothers, amply demonstrate. And unemployment figures are up a bit, too. None of this, however, is cause for depression—or exaggerated Depression comparisons.

Overall, the pessimists are up against an insurmountable reality: In the last reported quarter, the U.S. economy grew at an annual rate of 3.3 percent, adjusted for inflation. That’s virtually the same as the 3.4 percent average growth rate since—yes—the Great Depression.

Why, then, does the public appear to agree with the media? A recent Zogby poll shows that 66 percent of likely voters believe that “the entire world is either now locked in a global economic recession or soon will be.” Actually, that’s a major clue to what started this thought-contagion about everything being the worst it has been “since the Great Depression”: Politics.

Patient zero in this epidemic is the Democratic candidate for president. As it would be for any challenger, it’s in his interest to portray the incumbent party’s economic performance in the grimmest possible terms. Barack Obama has frequently used the Depression exaggeration, including during a campaign speech in June, when he said that the “percentage of homes in foreclosure and late mortgage payments is the highest since the Great Depression.” At best, this statement is a good guess. To be really true, it would have to be heavily qualified with words such as “maybe” or “probably.” According to economist David C. Wheelock of the Federal Reserve Bank of St. Louis, who has studied the history of mortgage markets for the Fed, “there are no consistent data on foreclosure or delinquency going all the way back to the Depression.”

The Mortgage Bankers Association (MBA) database, which allows rigorous apples-to-apples comparisons, only goes back to 1979. It shows that today’s delinquency rate is only a little higher than the level seen in 1985. As to the foreclosure rate, it was setting records for the day—the highest since the Great Depression, one supposes—in 1999, at the peak of the Clinton-era prosperity that Obama celebrated in his acceptance speech at the Democratic National Convention late last month. I don’t recall hearing any Democratic politicians complaining back then.

Even if Obama is right that the foreclosure rate is the worst since the Great Depression, it’s spurious to evoke memories of that great national calamity when talking about today—it’s akin to equating a sore throat with stomach cancer. According to the MBA, 6.4 percent of mortgages are delinquent to some extent, and 2.75 percent are in foreclosure. During the Great Depression, according to Wheelock’s research, more than 50 percent of home loans were in default.

Moreover, MBA data show that today’s foreclosures are concentrated in that small fraction of U.S. homes financed by subprime mortgages. Such homes make up only 12 percent of all mortgages, yet account for 52 percent of foreclosures. This suggests that today’s mortgage difficulties are probably a side effect of the otherwise happy fact that, over the past several years, millions of Americans of modest means have come to own their own homes for the first time.

Read the whole thing.

15 Sep 2008

Abusive McCain Photo Used for Atlantic Cover

2008 Election, Jill Greenberg, John McCain, The Atlantic, The Elect, The Intelligentsia, The Left

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David Walker reports on how the Atlantic made a big mistake by hiring “a hardcore democrat” professional celebrity photographer to do the portrait shot of John McCain for their October issue cover.


Greenberg is well known for her highly retouched images of bears and crying babies. But she didn’t bother to do much retouching on her McCain images. “I left his eyes red and his skin looking bad,” she says.

After getting that shot, Greenberg asked McCain to “please come over here” for one more set-up before the 15-minute shoot was over. There, she had a beauty dish with a modeling light set up. “That’s what he thought he was being lit by,” Greenberg says. “But that wasn’t firing.”

What was firing was a strobe positioned below him, which cast the horror movie shadows across his face and on the wall right behind him. “He had no idea he was being lit from below,” Greenberg says. And his handlers didn’t seem to notice it either. “I guess they’re not very sophisticated,” she adds.

The Atlantic didn’t select the diabolical looking McCain for its cover. Greenberg is hoping to license that image to some other magazine (she negotiated a two-week embargo with The Atlantic so she could re-license images from the shoot before the election).

Warned that the image is just the kind of thing that will stir up the anti-media vitriol in the conservative blogosphere, Greenberg said, “Good. I want to stir stuff up, but not to the point where I get audited if he becomes president.”

That said, she goes on to explain that she’s thought about replacing McCain’s mouth with bloody shark teeth and displaying the image on a billboard with the message that the candidate is a bloodthirsty war monger.

Given her strong feelings about John McCain, we asked whether she had any reservations about taking the assignment in the first place.

“I didn’t,” she says. “It’s definitely exciting to shoot someone who is in the limelight like that. I am a pretty hard core Democrat. Some of my artwork has been pretty anti-Bush, so maybe it was somewhat irresponsible for them [The Atlantic] to hire me.”

Walker thinks that Greenberg “delivered the image the magazine asked for—a shot that makes the Republican presidential nominee look heroic,” but just look at it.

The photo was taken at an angle ideal for highlighting the candidate’s jowls, sagging neck, and lighted so as to capture every line and blemish in his face. His face is surreally reflective and its overall color is kind of a metallic bronze, except where some nasty emphatic pink makes his nose look runny and his mouth obscene. I doubt McCain’s motor vehicle picture is any more unflattering.

One of the less loveable features of the American left is the way its members are so little inhibited by good manners, professionalism, or ordinary decency from injecting their own vicious, self-righteous, and santimonious partisan perspective into anything opportunity places within their reach. These kinds of cheap shots are a key reason the culture wars are bitter as they are.

14 Sep 2008

Will the Last Sane Person to Leave Britain Please Turn Out the Lights?

Bizarre, Britain Sinking into the Sea, Global Warming, Greenpeace, James Hansen, Popular Delusions, The Law

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Or maybe you won’t have to. A jury in Britain last Wednesday, encouraged by extreme partisan testimony from chief fraudster James Hansen himself, exonerated Greenpeace vigilantes who vandalized a coal-fired powerplant.


The threat of global warming is so great that campaigners were justified in causing more than £35,000 worth of damage to a coal-fired power station, a jury decided yesterday. In a verdict that will have shocked ministers and energy companies the jury at Maidstone Crown Court cleared six Greenpeace activists of criminal damage.

Jurors accepted defence arguments that the six had a “lawful excuse” to damage property at Kingsnorth power station in Kent to prevent even greater damage caused by climate change. The defence of “lawful excuse” under the Criminal Damage Act 1971 allows damage to be caused to property to prevent even greater damage – such as breaking down the door of a burning house to tackle a fire.

The not-guilty verdict, delivered after two days and greeted with cheers in the courtroom, raises the stakes for the most pressing issue on Britain’s green agenda and could encourage further direct action.

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How could any jury reach such a preposterous conclusion? Testimony from witch doctors on top of a prolonged steady diet of false information from the mainstream media, as in this typical example from the Telegraph.


Recent events have seen the scare campaign over global warming descend to the level of a Monty Python sketch.

Much publicity was given, for instance, to Lewis Gordon Pugh, who set out to paddle a kayak to the Pole to demonstrate the vanishing of the Arctic ice. At 80.5 degrees north, still 600 miles short of his goal, he met with ice so thick that he and his fossil-fuelled support ship had to turn back.

But this did not prevent him receiving a congratulatory call from Gordon Brown, nor boasting that he had travelled “further north than anyone has kayaked so far”.

It took the admirable Watts Up With That blog, run by the American meteorologist Anthony Watts, to point out that in 1893 the Norwegian explorer Fridtjof Nansen found the Arctic so ice-free that he was able to kayak above 82 degrees north, 100 miles nearer the Pole than our hapless campaigner against “unprecedented global warming”.

14 Sep 2008

More Hollywood Whining From HuffPo

2008 Election, Hollywood, The Huffington Post, The Left

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Paul Reiser, another HuffPo spokesman for Hollywood, sees McCain supporters as schoolyard bullies picking on him, and stealing his lunch money, read: the democrat party’s presidency.

He’s so self-righteous and annoying, you can see how bullying him would be very gratifying. No presidency for you, you little wimp.


“I wish I didn’t have to take your lunch money, but you should’nt of hadda brung it.”

We’re in the 3rd grade again. The skinny, smart kid who just moved in to the neighborhood is getting roughed-up by the asshole bully. The kid who hits you in the head with your hand and says, “Why’re you hitting yourself? Why’re you hitting yourself?”

“Um, actually I’m not. You’re hitting me.”

“You calling me a liar?”

“No, I’m just pointing out that…” SMACK!

“Why’re you hitting yourself?”

And there seems to be no one to appeal to. There’re no grown-ups around when you need ‘em. No one to step in and say, “Alright, that’s enough now. We don’t do that here, fella.” And in the absence of any authority, the asshole gets to keep doing it.

“Why’re you hitting yourself? SMACK! Why’re you hitting yourself?”

From the few minutes of the GOP convention I could stomach watching, all I could think was that Giuliani and Sarah Palin were doing some big-person, lethal version of “I know you are, but what am I?”

America: “Well, respectfully, Governor Palin, it could be argued that you are, in fact, relatively inexperienced.”

Her: “I know you are but what am I?”

“Hm? No, perhaps you misunderstood. We are talking about you.”

“I know you are but what am I.”

“Well, Governor, just listening to your speech, you seem awfully caustic.”

“You are.”

“And, frankly, a little bitter.”

“You’re bitter.”

“I mean, where’s your sense of humility?”

“I’m rubber, you’re glue. It bounces off me and sticks to you.”

“My God – you’re… dangerous.”

“I know you are, but what am I?”

Maybe that’s the problem. Obama treats us like adults, and McCain’s team treats us like children.

Obama seeks to inspire and raise us as a nation. McCain’s people want to reduce us to infants.

Obama asks us to be deep. And courageous.

McCain prays that we’re simple. And cowardly.

Now everyone is calling for Obama to “get angry.” “Get out there and frown this way, curl your lip that way, and clench your fist like so.” And, I don’t know….. That’d be cool. Sure. But I don’t think the fix can come just from him. There’s only so much the guy can do. It’s going to have to be us. I don’t know what exactly we need to do, but I know we’ll do it. I have to believe—I mean I really have to believe we’re big enough, strong enough and smart enough to reclaim what’s ours. I love my children too much to let the assholes take over the school yard.

14 Sep 2008

Conservative in California

2008 Election, California, The Left

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A McCain campaign sticker on a car is enough to provoke road-rage in LA, Judy Gruen testifies.


Hours after I slapped a McCain bumper sticker on my car, somebody tore it off in the parking lot of a local courthouse. No problem; I had bought a pack of ten and replaced it when I got home. I laughed when I thought that whoever had done it probably claims to support “diversity.”

Perhaps it was the shock of seeing a McCain sticker in very blue Los Angeles, where such sightings were rare, that caused the individual to rip it off. I had certainly seen very, very few, and not a single McCain lawn sign. Meanwhile, Obama bumper stickers seem to be standard equipment on every Prius in the land. Yes, I was feeling every bit the lonely Republican.

About a week later, I also felt scared. While driving in my neighborhood one afternoon, I was suddenly distracted by the sight of the driver behind me, threateningly close on my tail. She was screaming and was very clearly thrusting the finger at me. (You know, the rude one.) She alternated this gesture with making an “M” with her other fingers, and jabbing them as well.

I knew I had not cut into her lane or violated any other rules-of-the-road etiquette. I could come to only one conclusion: my McCain sticker was causing road rage! I was consoled by the fact that, as an extreme liberal, she probably didn’t have a gun on her. On the other hand, she seemed dangerous, and I wanted an exit strategy faster than the one Obama wants for Iraq. I pulled over as soon as I could to let her pass and get to her anger management session, but instead of speeding away from me and my odious political convictions, she pulled up alongside of me, still screaming and gesturing. I pretended to look impassive, but by the time she finally drove off, emitting more than just greenhouse gasses, she wasn’t the only one who needed calming down

14 Sep 2008

Tina Fey as Sarah Palin on SNL

2008 Election, Hillary Clinton, Humor, Sarah Palin, Saturday Night Live, Tina Fey

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Not super funny, but Fey does imitate the governor’s vocal mannerisms perfectly.

5:10 video

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