Archive for September, 2008
22 Sep 2008

Son Finds Father’s Korean War Garand

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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?”

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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

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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

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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

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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

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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

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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

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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

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

17 Sep 2008

Was It Bush’s Fault?

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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

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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

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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.

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