Wednesday, November 02, 2011

GOP Senator Calls For Obama to Cancel Huge Fannie Mae, Freddie Mac Bonuses

Sen. John Barrasso, R-Wyo called today for President Obama to cancel large bonuses set to be awarded to Fannie Mae and Freddie Mac executives.

“I am calling on the president of the United States to cancel those bonuses and explain to the American people, the taxpayers who bailed out Freddie and Fannie, why he continues to reward failure,” Sen. John Barrasso, R-Wyo., said at a news conference Tuesday.

The bonuses? Oh, a mere $12.8 million in bonuses approved for 10 executives at the government-seized mortgage companies.

Fredie Mac and Fannie Mae have received about $141 billion in taxpayer funds since the government took them over in 2008:

Politico first reported the $6.46 million in bonuses for the top five officers at Freddie Mac -- including $2.3 million for CEO Charles E. Haldeman Jr., who is stepping down next year -- and $6.33 million for Fannie Mae officials, including $2.37 million for CEO Michael Williams, for meeting modest goals.

A second bonus installment for Freddie executives in 2010 has yet to be reported to the Securities and Exchange Commission, Politico reported.


According to the White House, clamping down on what it czlled 'excessive compensation' on Wall Street via Dodd-Frank was just fine, but none of those provisions apply to Fannie and Freddie. Given who wrote Dodd-Frank and their history with those institutions, it's not hard to imagine why.

Just for the record, here's a flashback from candidate Barack Obama during the 2008 presidential campaign:

“I’ve always said that any action with respect to Fannie Mae and Freddie Mac needs to put taxpayers first and can’t under any circumstances bail out shareholders or senior management of that company.”

Lest you think this is yet another Republican attempt to embarrass the president,Senate Majority Leader Harry Reid had this to say when asked about this obscenity by reporters:

“A gag reflex in front of all of you would be improper.”

If Barrasso tries to get legislation passed to have Fannie and Freddie execs forfeit their bonuses, it'll be interesting to see if Reid supports it.

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Attorney Claims Cain's Comments Violated Deal, Allows Accuser To Go Public

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The other shoe appears ready to drop on the Herman Cain sexual harassment story.

The attorney for one of the women who accused Herman Cain of sexual harassment said his client is considering going public with full details, since they feel Cain violated the confidentiality agreement that was part of the original settlement:

Attorney Joel Bennett told CBS’s "The Early Show" on Wednesday that his client hasn’t spoken publicly because of the confidentiality agreement, but that Cain’s comments might have cleared a path.

“There was more than one incident that my client received sexual harassment,” Bennett said. “She would like to speak out for the record, only because Mr. Cain has stated that he didn’t sexually harass anyone, that there wasn’t any substance to the allegations, and basically made it look like she was some type of frivolous claimant looking for money.”

According to Bennett, one of the stipulations of the confidentiality agreement was that neither party could make disparaging remarks about the other. Bennett said Cain violated that agreement on Fox News on Monday when he said that he had been told that the accuser’s performance in the workplace “was not up to par.”

“I think she’s upset about his statements and would like the record to be balanced and clear,” Bennett said.

The New York Times reported Wednesday that Cain’s other accuser received a full year’s salary, worth between $35,000 and $40,000, as a part of her severance package.


A couple of things here. Note that the attorney refers specifically to a confidentiality between the two parties,. Unless the attorneyis lying, that has to mean that it involved Cain and his accuser, since the National Restaurant Association who paid out the settlement did not make any comments. And if Cain was directly involved as a signatory in the confidentiality agreement, then he was a lot more aware of all this than he has let on.

Even as late as Monday morning Cain was claiming that he was “unaware of any sort of settlement” stemming from harassment charges...and then changed his story later on that day, admitting to being aware of a “termination settlement” but denied any instance of sexual harassment, while offering details he seems to now recall about one incident. Again, if he was an actual signatory to the agreement, he was not being totally candid.

Another point worth calling your attention to is the size of the settlement, if Pravda-on-the-Hudson is correct, always a 50-50 shot. Cain referred to the settlements as equivalent to a 'normal termination settlement'. As I mentioned before, given that just preliminaries with the EEOC can cost $10-15,000 in attorney fees, throwing a few months salary at someone who brings a nuisance value complain to make them go away is a fairly common tactic in corporate America. Settling for a full year's salary is not - unless the complaint had some legs.

Let me be crystal clear. Whether or not Herman Cain committed some kind of sexual harassment ( after all, the Leftist media that is driving this story likely voted for Bill Clinton twice!) but how poorly Cain has handled this.

The attacks are definitely racially motivated and designed to punish a black conservative for straying off the Democrat plantation But unfortunately, with the way Herman Cain has dealt with this episode and the number of other gaffes he's made, Cain has continued to give them ammunition. And we're still only in primary season.

He's a likeable and decent man who has no experience in government and is simply not ready to be president.

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Watcher's Council Nominations - Media Lynching Edition


Welcome to the Watcher's Council, a blogging group consisting of some of the most incisive blogs in the 'sphere, and the longest running group of its kind in existence. Every week, the members nominate two posts each, one written by themselves and one written by someone from outside the group for consideration by the whole Council.Then we vote on the best two posts, with the results appearing on Friday.

This week's contest is dedicated to the World Champion St. Louis Cardinals..for not having the word 'quit' in their vocabulary.

Council News:

This week, Liberty's Spirit, Crazy Bald Guy and Capitalist Preservation took advantage of my generous offer of link whorage and earned honorable mention status.

You can, too! Want to see your work appear on the Watcher’s Council homepage in our weekly contest listing? Didn’t get nominated by a Council member? No worries.

Simply head over to Joshuapundit and post a comment with the link and title of the piece you want considered along with an e-mail address ( which won't be published)no later than Monday 6PM PST to be considered for our honorable mention category, and then return the favor by creating a post on your site linking to the Watcher’s Council contest for the week.

It's a great way of exposing your best work to Watcher’s Council readers and Council members. while grabbing the increased traffic and notoriety. And how good is that, eh?

So, let's see what we have this week....

Council Submissions



Honorable Mentions



Non-Council Submissions

Tuesday, November 01, 2011

The Mark of Cain

The big story over the last few days has been a concerted attack on GOP presidential candidate Herman Cain. I haven't said much about it yet because I deliberately wanted to see how deep the story went and more importantly,how Cain was going to handle it.

The attack on Cain involves some vague accusations of sexual harassment that date back over 15 years, from when Cain headed the National Restaurant Association. A couple of unidentified women who worked there apparently accused Cain of 'conversations allegedly filled with innuendo' and 'physical gestures that were not overtly sexual but that made women who experienced or witnessed them uncomfortable.'

So the Association apparently gave the women a small settlement to avoid the expense of litigation, a common tactic in these politically correct times. As anyone with any experience in these matters knows, just the initial dealings with the EEOC can involve a cost of $10 to $15,000 based on nothing more than a complaint,no matter how insubstantial.

For that, based strictly on hearsay, Herman Cain is in the headlines today accused of 'sexual harassment', even though numerous female employees who worked for the NRA at the time have come forward publicly to state that they never heard, observed or experienced any conduct from Herman Cain even remotely suggesting 'sexual harassment'.

Cain's real sin doesn't appear to be inappropriate sexual conduct but being an independent minded black conservative who strayed off the Left's reservation. For that, he has to be destroyed. Florida Senator Marco Rubio, who's been mentioned as a possible vice - presidential nominee got the same treatment last week from the Washington Post for the exact same reason.

And the attacks on Cain - and yes, they're race-based - have been building for some time, ever since Herman Cain began gaining traction in the polls. And of course, the Left has made sure that the attacks mostly come from blacks...just to emphasize what happens to those who stray off the plantation.



For instance, a MSNBC 'analyst' named Karen Finney recently accused Republicans of racism, saying that Republicans are supporting Herman Cain because of his race:

"One of the things about Herman Cain is, I think that he makes that white Republican base of the party feel okay, feel like they are not racist because they can like this guy," Finney said. "I think he giving that base a free pass. And I think they like him because they think he's a black man who knows his place. I know that's harsh, but that's how it sure seems to me."

Finney is hardly unique or alone in saying this. In fact, it's become a part of the Left's repeated mythology as the election season moves into high gear.

“He’s engaging in a very dangerous, irresponsible type of rhetoric,” said Edward DuBose, president of the Georgia state conference of the NAACP. “It’s almost like he feels the need to be accepted in a different class or community, and somehow, by portraying his own race or portraying the poor as a problem, it’s going to advance his cause. I think he’s going to find that that’s not true.”

Pam Spaulding, the black LGBT blogger and darling of the Left made it even plainer, accusing Cain of 'shameless tap dancing for conservative white voters'.

And those are just a few examples. The most inadvertently comical thing about them is that all of these people probably voted for Bill Clinton - twice. That alone should shoot any pious homilies about 'sexual harassment' or untruthfullness out of the water.

And yet, as despicable and racist as these attacks are,they once again point out something that needs to be said. As likeable as he is, as compelling as his personal story is, Herman Cains not ready for prime time and his handling of this latest attack proves it.

Commonsense would dictate that if you're going to run for office, especially as a conservative black man, your very first practical task is to have your people do opposition research on yourself.

Anything even remotely attackable in your history or background needs to be looked at so that there are no surprises...so that you're prepared if and when it surfaces. Herman Cain either neglected to perform this elementary step or knew about this and simply tried to bluff his way clumsily out of it, changing his story about four separate times in the process. There's no third option, and neither one bodes well for his performance as president.

For a comparison, simply look at Governor Sarah Palin and how she handled media attacks on everything from her family and her very femininity to her generally excellent record as Alaska's governor to see the difference.

These attacks will likely not sink Cain, but it gives us an unfortunate preview of what we're in for if he's the nominee and the real attacks start.

And his continued gaffes, like his latest one on China are going to be easy ammo for the Obama campaign to destroy him:

JUDY WOODRUFF: Do you view China as a potential military threat to the United States?

HERMAN CAIN: I do view China as a potential military threat to the United States... we already have superiority in terms of our military capability, and I plan to get away from making cutting our defense a priority and make investing in our military capability a priority, going back to my statement: peace through strength and clarity. So yes they're a military threat. They've indicated that they're trying to develop nuclear capability and they want to develop more aircraft carriers like we have. So yes, we have to consider them a military threat.


Is it really too much to expect someone who's running for president to realize that China has been in the nuclear club for several decades? Imagine that surfacing in a debate...along with all the other ones he's come out with.

Herman Cain is an immensely likeable and decent man, and the racist attacks on him are despicable. But as I explored here, there are a lot of reasons he's simply not ready for the presidency.

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Fast And Furious: Did 'Bush Do It Too'?

As Fast and Furious continues to metastasize out of control, the Obama Administration and its media sycophants have a brand new variation on their usual theme 'Bush did it too'.

What they're talking about is something called 'Wide Receiver'. CBS reporter Sheryl Aktinson is one of the few dinosaur media reporters even covering Fast and Furious, and alleged that Wide Receiver also had some of the same 'Gunrunner'aspectd Fast and Furious did.

Well it did, and it mostly didn't. Jim Shepherd in The Outdoor Wire reveals just how different the admittedly botched Wide Receiver was from Fast and Furious:

In Operation Wide Receiver, Tucson agents allowed the sales of more than 500 firearms to known straw purchasers. Like Gunrunner/Fast and Furious, the operation apparently backfired.

Some firearms in Wide Receiver were equipped with RFID tracking devices. In Wide Receiver, it seems the illegal purchasers seemed more than slightly knowledgeable of the ATF and how to take their aerial and electronic tracking procedures down.

Knowing the time aloft numbers for virtually all planes used in government surveillance, the buyers had a simple method of getting their purchases across the border undetected. They simply drove four-hour loops around the area.

As surveillance planes were forced to return to base for refueling, the smugglers simply turned and sprinted their cargo across the border.

The RFID tags also turned out to be problematic.

Rather than making large enough holes for the tags to be laid out inside weapons, agents force-fit them into the rifles.

That cramming caused the antennae to be folded, reducing the effective range of the tags. And an already short battery life (36-48 hours maximum) meant that should purchasers allow the firearms to sit, the tracking devices eliminated themselves.


Let's summarize the differences, shall we? Wide Receiver actually made an attempt at surveillance, but was stymied by equipment problems and the resourcefulness of the cartels.

In addition, Wide Receiver was conducted in cooperation with the Mexican government - not kept secret from them as Fast and Furious was.

Fast and Furious made no use of tracking devices, prevented local law enforcement from interfering with the smugglers, on multiple occasions, and federal agents were not allowed to stop the flow of weapons. The whole idea behind Wide Receiver was to nab the smugglers and cut off the traffic.

Wide Receiver allowed something like 450 guns into Mexico before the Bush Administration and the Mexican authorities realized it had failed. Fast and Furious allowed over 2,000 weapons into the hands of the cartels without any intention of arresting the straw buyers and smugglers. And this might just be the tip of the iceberg. CBS News’ Attkisson mentions allegations of “at least 10 cities in five other [Mexican] states”, which means that Holder’s Department of Justice may have intentionally sent more than 12,000 weapons into the hands of the cartels.

Of course, the most important difference, aside from the death toll is that Holder and the DOJ already knew that Wide Receiver had been a failure.They had the advantage of hindsight and went ahead and did this anyway.

And that, frankly, amounts to criminal negligence.As opposed to a botched law enforcement program.

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Dog Dies In Fire After Saving His Master

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Scott Dunn fell asleep on his sofa yesterday at his home in Marietta, Georgia with his devoted friend Duncan, a 3 1/2-year-old boxer by his side.

“Duncan was covered up with me, and I fell asleep, and the next thing I knew, he was poking at me and barking,” Dunn said. “Normally, that means he needs to go out, but when I woke up, I couldn’t see because there was smoke.”

Dunn quickly put on his pants and boots, found his truck keys and cell phone and grabbed Duncan by the collar, then ran out of the burning house.

Somehow Duncan slipped out of his collar and was trapped in the burning house, where he died after saving the life of his owner.

"Anyone that knows me and has ever met Duncan knew he was the best dog in the world, and he didn’t deserve that,” Duncan said. “I should be there, he shouldn’t, but he saved my life.”

Firefighters later found the dog's remains and buried them in the yard.

“They weren’t going to let me watch, but I refused that. I said, ‘that’s my dog and I want to say the final goodbye.’”

Dunn said Duncan had been badly burned in the fire.“You wouldn’t recognize him, but I still leaned down, gave him a hug and gave him a kiss, and four or five of the fire department guys started crying, but I wasn’t going to let my boy go out like that,” Dunn said. “That’s my boy.”

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California's Latest Insanity - Bullet Train Fiasco Nearly Triples In Cost

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Ah, California!

Back in 2008, the state's voters were silly enough to approve a high speed rail project that was sold to them as costing a mere $33.6 billion and would take until 2020 to build.

The fact that the state was essentially bankrupt at the time made no difference. Neither did the fact that there's already rail service between the state's major cities,or that traveling from Los Angeles to San Francisco by car only takes six hours, most of it on relatively uncongested freeways.

Surprise! According to new figures from a final business plan to be unveiled by the California High-Speed Rail Authority, the estimated cost has now ballooned to nearly $100 billion, almost triple the estimate given to voters and more than enough to run the entire state government for a year. Not only that,but the estimated completion time is now 2033 or longer, depending on how long it takes the state to somehow find 90% of the money needed to build it.

Needless to say, Governor Jerry Brown is expected to endorse the new plan.So are the mayors of Los Angeles, San Francisco and San Jose.

California's original 'plan' relied on more than $15 billion from the federal government, $10 billion from private investors and $5 billion from local governments.Only some of the government money has been forthcoming so far, three years after the voters approved this insanity.

If the State of California kills the project, it loses a $2.2 billion federal grant earmarked to create temporary construction jobs. But starting the project to claim the funds would require spending $6.3 billion, split between state and federal funds, to build a short stretch of track that would not be long enough to support bullet train service.

So that's the choice faced by the Democrat legislators who run California. What'll it be? Spend an additional $3.1 billion in funds the state doesn't have in order to get back $2.2 billion and commit to spending billions more the state doesn't have in order to build something unnecessary that most of the state's residents won't use anyway and private enterprise sees no profit in providing - OR - bag the whole project as a bad idea?

I can almost guarantee you that the plan will be approved enthusiastically.

Hey, the weather's nice.

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Greeks Rebel: Eurozone Bailout Hangs By A thread

The Eurozone bail out cobbled together last week is hanging by a thread and has sent stock markets world wide tumbling as a result.

In view of the vast civil unrest that accompanied the last austerity measures, Greek PM George Papandreou wisely decided to hold a referendum in parliament to get support for the new measures the EU is demanding as part of the current proposal.

And it unfortunately hasn't gone well. Papandreou's socialist Pasok party is shedding support from its own members over the new austerity measures, and it's doubtful whether Papandreou even has a simple majority anymore in the 300-seat parliament. A vote of confidence is planned for Friday, which might even end up with Papandreou being ousted and the country going to early elections.

In view of this, Papandreou announced that Greece would hold a popular referendum in January on whether to adopt the new spending cuts and austerity measures. So far, the polls show that the vast majority of Greeks are against them.

If Greece does not approve the new austerity measures, the EU won't release bail out funds from the EFSF, which means that Greece would default on its sovereign debt. Essentially, a vote against the austerity measures would be a vote against the euro and in favor of bringing back the Greek drachma.

From Greece's personal standpoint, they might actually be better off. Even the current 130-billion-euro bailout and 50-percent write-down on its debt only gets Greece to a debt level of 120% of its gross domestic product(GDP), which is like restructuring your debts down to $2,400 per month when you only have an income of $2,000. And that's the best case scenario.

The country's credit would be shot, but it already is anyway, and at least they could devote what there is of Greece's resources to the country's actual expenses instead of debt service.

The big losers would be the other members of the eurozone ( especially France and Germany) , who would get stuck with the worthless debts from the earlier Greek bailout and would then almost certainly face a whole slew of countries defaulting as the entire rotten structure collapsed.

Since chaos tends to spread,the effect on US and foreign financial markets can hardly be expected to be good.

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Monday, October 31, 2011

U.S. cuts off aid to UNESCO Over Admission Of 'Palestine'









The United States has cut off $180 million in aid to UN group UNESCO after the group voted to accept 'Palestine' for membership, 107-14. This triggered existing law that prohibit American support of U.N. agencies that accept 'Palestine' as a member before negotiations between Israel and 'Palestine' are completed between the parties as called for by the Road Map, a treaty that the UN is signatory to but has apparently chosen to ignore.Australia, Canada, Germany and Holland voted against Palestinian membership along with the US. Brazil, Russia, China, India, South Africa and France voted in favor. Britain and Italy abstained.

The Obama administration had no choice but to go along with the defunding, since support for the law is strongly bi-partisan, led by Reps. Steve Israel (D-N.Y.), the chairman of the House Democrats’ campaign committee, Tom Cole, a former chairman of the House Republicans’ campaign committee, and Ileana Ros-Lehtinen(R-FL)who was instrumental in drafting the legislation.

UNESCO, like a number of other UN organizations has a long and disgraceful history of anti-Semitism and anti-Israel bias. Any self -respecting nation with a sincere belief in the UN's purported mission should have yanked UNESCO funding a long time ago. And frankly, that's true of almost everything connected with the UN.

The member nations of UNESCO were fully aware of the US law concerned, knew it was wrong and did this anyway. There's always a price tag attached to such actions.

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Sunday, October 30, 2011

President Obama's Latest Horror - A Trillion Dollar Timebomb For America's Economy


President Obama has just enacted his latest raid on the American treasury. It's designed to benefit the president by pandering to the student vote at the expense of the American taxpayer.

President Obama has announced that he intends to issue an executive order for the federal government to reduce student loan payments to 10 % of a borrower's income above the poverty line, and for total debt forgiveness after 20 years, regardless of the outstanding balance.

"We're just going to do this by ourselves. We can't wait for Congress, we're just going to act," said Education Secretary Arne Duncan on CNN.

And of course, the president is putting this out there at universities all over the country.

To see how insidious this really is, let's take a look at how this works in the real world. Let's say Jane Jones borrows $150,000 to obtain a liberal arts undergraduate degree at your typical university. Her repayment is based on what she earns, if anything. Let's say Jane gets a job as a community organizer at $30,000 per year. Factor out the $10,800 for a single person under the federal poverty guidelines and her total annual repayment is $1,600 per year, or only $133.33 per month.

Twenty years later, she's only repaid $32,000 on her loan. And the balance? it doesn't 'dissolve' as the Obama Administration's rhetoric suggests. It gets picked up by the rest of us and gets added to the national debt.

Yes, fellow citizens. If some of the people the president and his minions feel are more deserving than you are want to go to academia for a 4-year funfest and pick up an overpriced diploma in ethnic or womyn's studies, you and your children are footing the bill.

The tenured radicals installed in the university system working to destroy America one mind at a time always had their six-figure lifestyles subsidized by the rest of us, but the bill just increased a hundred fold.

This is by no means small change. Americans currently owe over $1 trillion in college debt, and some 1.6 million have subsidized student loans, which Obama had the federal government take over in 2009.

Now that it's essentially going to be a free ride, that $1 trillion is going to look like pocket money.

College costs have increased nearly 600 percent since 1980, far ahead of inflation and price increases on cars, homes, and medical care. But for some strange reason, no one is suggesting cutting tuition, limiting tenure, creating alternative programs like apprenticeships, eliminating programs of dubious value or other steps that could make college more affordable. Instead, this president is inflating yet another bubble, since more money directed at the same commodity means schools can increase their prices, based on the 'bigger fool' theory that worked so well when it came to real estate. Remember how people bought homes at inflated prices they couldn't afford because they were always going to appreciate and they could always flip them for a profit in a few months? Remember how realtors always told people that now was the time to buy, before prices went up again?

President Obama is doing exactly the same thing here. He's deliberately setting another time bomb for the economy and creating another megabucks unfunded entitlement for the sole purpose of trying to slither back into office for another four years.When it explodes, he'll be long gone and away from the scene of the crime.

At least with real estate, the private sector was involved, or at least it was until the Obama Administration essentially took over the mortgage industry. Here, the debt bomb is already going to be absorbed via executive order without benefit of any congressional oversight, and it will increase to toxic levels as universities hyper-inflate their already obscene costs.

Ironically, the entire thing is a Ponzi scheme in reverse. The same students crying 'whoo hoo!' as they listen to President Hope n' Change haven't figured out that the small amount their loan payments are going to be lowered is going to be eclipsed by the increasing amount of taxes they'll have to pay to cover what the federal government eats in debt forgiveness, the increased cost of a college degree for their children, and the diminished employment opportunities as more and more economic activity is swallowed up by yet another unfunded federal mandate.

The idea of a sitting president deliberately doing something like this via executive order simply to benefit his own election prospects at the expense of the nation is something new here. But that's what we have.

Along with all the other episodes of this abysmally failed presidency, this latest horror makes it clear that not only does this president not deserve re-election, but that he was unworthy of his office to begin with.

As the ancient Greeks said, character is destiny.

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Jewish UK MP Assaulted By Muslims While Meeting With Constituents


Tory MP Mike Freer was attacked by a mob of Muslims at North Finchley mosque in north London as he met with some of his constituents there after prayers on Friday afternoon.

(Ed. note to avoid confusion about the linked article: a 'constituent surgery' is a Briticism for a meeting between an MP and his constituents and has no medical connotation)


They forced their way into the mosque and attempted to attack him, with with one of them screaming that he was a "Jewish homosexual pig". Freer was spirited into a locked room and was only able to leave after the police arrived.

Freer was apparently targeted by the group Muslims Against Crusades, who posted about the meeting on their website and urged Muslims to assault him, making reference to last years attack on Labour MP Stephen Timms, who represents East Ham and was stabbed during a similar meeting in east London last year. The group's website said that the attack on MP Timms should be a "piercing reminder" to politicians that "their presence is no longer welcome in any Muslim area".

The police, amazingly, didn't make any arrests when they arrived, but merely escorted Freer out of the area. Apparently making violent threats against a member of Parliament and assaulting him is no longer a crime in the UK....if it's done by the right people.

What the BBC isn't telling you but I have from a confidential source is that there was a meeting afterwards at the mosque at which members of Muslims Against Crusades and other hardliners made specific threats against the mosque and its administrators if they ever allowed any similar occurrences.

The goal of these people is to eventually form a 'state within a state' inside Britain where Islam and sharia rule, where Muslims who might want to assimilate and co-exist with their non-Muslim neighbors are silenced and intimidated and where non-Muslims are persona non grata. They've already made significant progress towards that goal.

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Friday, October 28, 2011

The Latest LATMA - Cutting Edge Israeli Satire!




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The Chinese Agree To Bail Out Eurozone..In Exchange For..

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China has cleverly agreed to help the EU out of the pit it dug for itself...but with certain conditions.

They obviously want financial guarantees on their investment. What they also want is in essence a silent veto on criticism or opposition to China's policies, like its opposition to sanctions on Iran, any disagreements with the US or China's currency policy, which artificially undervalues the renminbi to support Chinese exports at the expense of western producers.

If they get that, China could be willing to throw substantial amounts into the EFSF, the EU's bailout fund. Another possibility that's being looked at is a new fund set up under China's auspices in collaboration with the IMF.

French President Sarkozy is already prepared to take China's terms. “Our independence would not be put into question by this,” he said in a television interview. “Why would we not accept that the Chinese had confidence in the eurozone and place a part of their surpluses in our funds or our banks? Would you rather they placed it with the US?”

If President Sarkozy seriously thinks the EU's independence won't be compromised by a deal with the Chinese, he's in for a rude awakening.


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Moochelle : GOP Would Curb Freedom of Speech, Religion


I think the powers that be might want to send the First Lady on another deluxe,tax payer funded vacay so stuff like this doesn't surface.

Here's what she had to say at a private fundraiser in Tampa, clearly indicating that a Republican president would appoint Supreme Court justices that would curtail First Amendment rights:

Let’s not forget about what it meant when my husband appointed those two brilliant Supreme Court justices — (applause) — and for the first time in history, our daughters — and our sons — watched three women take their seats on our nation’s highest court. (Applause.) But more importantly, let’s not forget the impact those decisions will have on our lives for decades to come — on our privacy and security, on whether we can speak freely, worship openly, and love whomever we choose. That is what’s at stake here. (Applause.)


And of course, the Race Card was not-so-subtly in appearance:

Will we be a country where opportunity is limited to just the few at the top? Who are we? Or will we give every child a chance to succeed no matter where they’re from, or what they look like or how their money parents are — have. Who are we?


We've never had a president or a First Lady before who have so blatantly tried to set America's people against each other in this fashion for their own tawdry political gain.

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The Council Has Spoken!! This Week's Watchers Council Results


The Council has spoken, the votes have been cast, and the results are in for this week, engraved on stone tablets in our secret guildhall.

We had a tie this week in the Council category between Joshuapundit's Blood And Sand a piece with some observations on Libyan dictator Moamar Khaddaffi's fate that might not be apparent at first look and Bookworm Room's Is it true that the poor ye always have with you? , an excellent essay on what being 'poor' means in America as opposed to the rest of the world and more importantly, how our culture and educational system have fed the unrealistic sense of entitlement evidenced by the OWS protesters.

In accordance with our by-laws, I put on my Watcher's hat to break the tie, which always gets decided in favor of my fellow Council members in these situations where I'm involved. And so I'm proud to cast my vote and declare Bookworm Room's Is it true that the poor ye always have with you? as this week's very worthy winner! Here's a slice:

But in a peculiar way, those non-starving, non-homeless, non-refugee young people playing at being poor in cities across America have a point. They represent some very specific — and sad — types of poverty.

To begin with, there’s the sense of poverty created by utterly ludicrous expectations. We promised these kids that they were all “good enough, smart enough and, gosh darn it!, that everyone would like them.” We promised them that they were all number one, and that they would never need to make any actual effort to achieve that blue ribbon status. We taught them, through MTV and computer games, that a 3 minute attention span is sufficiently long to be awesomely cool and win the game. And, God help us, we taught them that a Womyn’s Studies, or Africana Studies, or GLBT Studies, or Oppressed People’s degree from some big name university would assure them the kind of job that would enable them to pay off $25,000 or $100,000 or even $250,000 in student loans. We, the older generation, created this wealth of stupidity.

These young people also suffer from a vast intellectual and moral poverty. One of the things that shines through when we interview the people taking to the streets is that so many are woefully ignorant, and that they wallow in a sea of relativism that allows for no morality other than that gained by intense navel gazing. They are the antithesis of the original American revolutionaries, whose leaders were men of exceptional erudition and thoughtfulness, and whose followers knew at the very least their Bible and Pilgrim’s Progress. Revolutionaries of old were shaped by philosophy, known science, literature, practical life experience, and a deep sense of morality and justice. Today’s little park piddlers are shaped by an aching sense of unfairness, a terrible fear of human-kind (that would be the AGW shtick), and a morality shaped by Oprah and whichever fabulously rich Hollywood Leftist happens to grab the microphone on any given day.

These self-styled 99%-ers are not poor, not by any known standard, either today or in the history of the world. They are intellectually and emotionally bereft, but otherwise awash in material benefits.

The fact that these posers aren’t poor, as poverty has traditionally been understood, does not mean that there aren’t poor people in America. New immigrants are poor, although America quickly absorbs them and propels their children and grandchildren into the working and middle class. Elderly people whose life savings have been destroyed by the Democrat economy are poor, and deserve our help. Those who suffer from profound physical or mentally disabilities, through birth or injury, may experience great poverty, and they too deserve our help. Those are traditional kinds of poverty and, true to Jesus’ word, we will always have these people with us.

Lastly, there is a unique kind of poverty, one that could only occur in America. I know about this poverty because someone close to me dwells among these poor (although she is not quite of them), and reports back faithfully. These are not people who are poor in the old-fashioned way. They were not deprived of opportunities due to class distinctions, because we do not have a European-style class-based society. Although most are profoundly ignorant, all had available to them the basics of an American public school education. Living in the modern age, their lives have not been blighted by epidemic diseases (polio, rheumatic fever, mumps, measles, small pox, etc.), nor have their family structures been decimated by the mortality that ripped through the pre-modern world, leaving large numbers of children as half or full orphans.


We also had a tie this week between two must read entries in our non-Council category, Bruce Thornton's excellent piece in FrontPage Magazine, Obama's Libyan Disaster submitted by The Noisy Room and Andrew Klavan's The Mask Of Fascism submitted by The Colossus of Rhodey.

Tough choice here! Thornton, astute observer that he is picked up as I and a number of others did that the back slapping the president is getting in certain circles over our Libyan adventure is extremely misguided. Thanks to our intervention on behalf of Britain and France's oil contracts, Libya is now an Islamist state under sharia and a likely candidate for a part of the new Caliphate, and Thornton lays out the facts bluntly on the damage done.

Klavan's masterful essay probed the fascist underpinning of the core of OWS movement in his inimitable style, and those of you familiar with his work won't be disappointed.

In the end, after careful consideration, I ended up going with Thornton's Obama's Libyan Disaster, but like I said, tough choice and both are excellent reads.

Here are this week’s full results:

Council Winners



Non-Council Winners



See you next week! And don't forget to follow us on Facebook and Twitter..'cause we're cool like that!

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Thursday, October 27, 2011

Wall Street Responds With Leaflet Bomb On Occupy Chicago: "We Are Smarter, More Vicious"

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The worm may just be turning. The above is one of a whole slew of leaflets dropped from a Chicago office building on the 'Occupy Chicago' encampment, and it ties in with something I said here back when this started.

Full Transcript:

"We are Wall Street. It’s our job to make money. Whether it’s a commodity, stock, bond, or some hypothetical piece of fake paper, it doesn’t matter. We would trade baseball cards if it were profitable. I didn’t hear America complaining when the market was roaring to 14,000 and everyone’s 401k doubled every 3 years. Just like gambling, its not a problem until you lose. I’ve never heard of anyone going to Gamblers Anonymous because they won too much in Vegas.

Well now the market crapped out, & even though it has come back somewhat, the government and the average Joes are still looking for a scapegoat. God knows there has to be one for everything. Well, here we are.

Go ahead and continue to take us down, but you’re only going to hurt yourselves. What’s going to happen when we can’t find jobs on the Street anymore? Guess what: We’re going to take yours. We get up at 5am & work till 10pm or later. We’re used to not getting up to pee when we have a position. We don’t take an hour or more for a lunch break. We don’t demand a union. We don’t retire at 50 with a pension. We eat what we kill, and when the only thing left to eat is on your dinner plates, we’ll eat that.

For years teachers and other unionized labor have had us fooled. We were too busy working to notice. Do you really think that we are incapable of teaching 3rd graders and doing landscaping? We’re going to take your cushy jobs with tenure and 4 months off a year and whine just like you that we are so-o-o-o underpaid for building the youth of America. Say goodbye to your overtime and double time and a half. I’ll be hitting grounders to the high school baseball team for $5k extra a summer, thank you very much.

So now that we’re going to be making $85k a year without upside, Joe Mainstreet is going to have his revenge, right? Wrong! Guess what: we’re going to stop buying the new 80k car, we aren’t going to leave the 35 percent tip at our business dinners anymore. No more free rides on our backs. We’re going to landscape our own back yards, wash our cars with a garden hose in our driveways. Our money was your money. You spent it. When our money dries up, so does yours.

The difference is, you lived off of it, we rejoiced in it. The Obama administration and the Democratic National Committee might get their way and knock us off the top of the pyramid, but it’s really going to hurt like hell for them when our fat asses land directly on the middle class of America and knock them to the bottom.

We aren’t dinosaurs. We are smarter and more vicious than that, and we are going to survive. The question is, now that Obama & his administration are making Joe Mainstreet our food supply…will he? and will they?”


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Democrats Running With Media Assistance On The Fable Of 'The Republican Congress'

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Yes, once again the Democrats are banking on people's abject stupidity.After all, they haven't much else to run on. And needless to say,the compliant media are doing their very best to help spread The Narrative.

Here's the president, talking to sympathetic ex-Clinton apparatchnik turned talking head George Stephanopoulos:

“I’m the first one to acknowledge that the relations between myself and the Republican Congress have not been good over the last several months, but it’s not for lack of effort,” Obama told ABC’s George Stephanopoulos earlier this month.

“It has to do with the fact that, you know, they’ve made a decision to follow what is a pretty extreme approach to governance,” he said.


And the beat goes on:

“I think it’s to convey a message and I think it’s great they’re doing it. There’s so much dissatisfaction in Washington. It’s very important for Democrats to label that dissatisfaction. It’s important to say who’s being the obstructionist and who has real plans,” said Democratic pollster Celinda Lake.


And here's well known war hero Senator Tom Harkin:

“Democrats aren’t in charge. The House is obviously run by Republicans, and in the Senate, we have 53 Democrats but the system now is set up so that you need 60 votes to do anything,” Sen. Tom Harkin (D-Iowa) said in a C-SPAN “Newsmakers” interview that aired Sunday.


Yes, folks, that's the narrative. Control of one half of one third of government equals control.

I wonder if it would be informative to have someone whose job was to ask follow up questions to these people and asked them something like "So when the Democrats had veto-proof control of the Executive both Houses of Congress, why didn't you go ahead and pass a jobs bill that worked or even an actual budget, instead of spending all that time on stimulus bills that provided no jobs and an unpopular health care bill?"

Maybe we could call them...'journalists'. Or how about 'reporters' .You think?

Of course, that would make statements like this one from Cornell Belcher, a Democratic strategist who served as pollster for Obama’s 2008 campaign look even more ridiculous:

“Over 240 days and this Republican Congress has not put forth one jobs plan,” Belcher told CNN anchor Anderson Cooper last month.

240 days as opposed to 720...and lest we forget, the Democrat's insistence on higher taxes - oh pardon,'new revenues'- their control of the Senate and the president's veto threats shot down more than one GOP backed proposal. Remember cut cap and balance?

I don't blame Obama, Lake, Harkin, or the aptly named Belcher for any of this. After all, Harkin and the president are desperately trying to spin this and make excuses for an abysmally failed administration any way they can, and Lake and Belcher get paid to lie to people. But Stephanopoulos, Cooper and whoever 'interviewed' Senator Harkin on C-Span allegedly get paid to present the American people with a balanced view of the matter and even take this sort of nonsense apart instead of nodding sympathetically and aiding and abetting it like hired propagandists.

At least prostitutes provide an actual service...

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The EU's Big Fat Greek Bailout


The EU leaders, led by Germany's Chancellor Angela Merkel and France's President Nicholas Sarkozy have reached a deal for a second Greek bailout.

The deal involves a new €130 billion bailout of Greece by the European Union and the International Monetary Fund (which means American taxpayers are going to take a bite of this particular sandwich), and acceptance by current Greek bond holders of fifty percent of face value and a increase in the EU's bailout fund to over €1 trillion.

As Chancellor Merkel announced with a straight face, the goal of all this manipulation is to get Greece's debt down to - wait for it - a mere 120% of the country's gross domestic product by 2020.

President Sarkozy announced that he would hit up the Chinese to see if they're willing to pony up any cash to help in supporting the fund.

A number of details remain deliberately vague, which was probably the intent to get some kind of consensus and just try to muddle through somehow.

For example, under the terms of the deal, Greece agreed to pay €15 billion back into the EU's bailout fund, the European Financial Stability Facility(EFSF). The money is supposed to come from additional revenues raised by a vast Greek privatization plan, which would see a lot of functions currently run by the government go into private management.Unfortunately, the international monitors have already reported that Greece isn't going to be able to come up with the €50 billion for the EFSF from privatization it already pledged earlier this year, and this new €15 billion is supposed to come on top of the money the Greeks have already been unable to pay back.

The most inadvertently hilarious quote on this particular item came from Yves Leterme, the Prime Minister of Belgium, a country not exactly noted for its sense of humor. When he was asked by reporters whether adding another €15 billion to Greece’s expected pay back to the bailout fund out of expected revenues from privatization was realistic when the Greeks couldn't come up with the €50 billion from privatization they'd already committed to, he replied: “This element was not a necessity for Belgium.”

Another interesting bit that promises future fireworks came from George Osbourne, Britain's Chancellor of the Exchequer, the equivalent of America's Secretary of the treasury.He's claiming that Britain (which is already in financial straits) won't pay into the bailout fund out of its its IMF contributions. Moreover, he doubled down and is insisting that the IMF's mandate doesn't allow any cash to go into the bailout fund. Since there's no other place the money can conceivably come from except perhaps the Chinese, this is another of those little details that looks like it's being left to work out later.

Another problem with all this has to do with the internal problems of Greece itself.The EU has apparently realized belatedly that the country is one of the most corrupt in Europe, has a poisonous investment climate, a government fully prepared to cook the books and and little besides tourism as a source of revenue. So Chancellor Merkel is demanded the EU put what she describe as 'monitoring' in place to try and make some kind of order out of this.

"There will be a reinforced monitoring regime in connection with the fulfillment of the Greek obligations," she said.

"That will be anchored in a memorandum of understanding. There will be a permanent presence there. It will be possible to monitor the measures taken by Greece. I think that this is better than when every three months a 'troika' travels there and back, a permanent system of supervision."

Viel glück damit, Madame ReichsKanzler.

If this all seems like simply kicking the can down the road, I couldn't agree more. And that's going to become even more obvious when further bailouts are needed for countries like Spain, Ireland and Portugal, among others.


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Wednesday, October 26, 2011

US Professor: "Death To Israel"


An interesting confrontation,this... between the Former Deputy Consul General at the Israeli Consulate in San Francisco and a tenured jihadi at Kent State in Ohio.

It occurred at an event co-sponsored by the undergraduate student government and entitled “An Evening with Ishmael Khaldi.”

Khaldi is the aforementioned Israeli diplomat, a Bedouin Arab with an impressive career and the author of A Shepherd’s Journey, which details his journey from a small village in the Galilee to the inner-circles of the Israeli Foreign Service.

The tenured radical is one Julio Cesar Pino, an Associate Professor of History at Kent State University on whom more later.

After Khaldi finished his talk, he opened the floor for a Q &A session, and Professor Pino rushed up to be the first in line. Khaldi had mentioned in his talk that Israel provides disaster aid all over the world, even in Muslim countries like Turkey, and Pino's opening remark was how Khaldi could justify speaking of foreign aid given from Israel to countries like Turkey, when that aid was financed by “blood money that came from the deaths of Palestinian children and babies.”

As Khaldi attempted to refute Pino's ridiculous statements, the crowd fell into an awkward silence:

It is not respectful to me here,” Khaldi said.

Pino responded by saying “your government killed people” and claimed Khaldi was not being respectful to him.

“I do respect you, but you are wrong,” Khaldi said. “It’s a lie.”

The exchange ended as Pino stormed out of the auditorium shouting “Death to Israel!”

One person in the crowd retaliated by shouting “Shame on you!”

After the altercation with Pino, Khaldi moved on to more questions, but he still referred back to his thoughts on the heckler.

“Let’s respect each other; it starts from there,” Khaldi said. “By the way, this is not respect.”

Khaldi said he thinks people misunderstand what’s happening with Israel, and it may explain some of Pino’s comments.

“Is this what that professor is telling you?” Khaldi said. “It is my responsibility to tell you the truth and build relationships.”

After the speech ended, the remaining students in the auditorium could be heard admonishing the professor’s behavior.

One student in attendance said, “I get it’s freedom of speech and all that, but that guy just makes us [the university] look bad.”


For those of you who don't know, most of Israel's Arabs are pretty well integrated into Israeli society.They serve as judges, Supreme Court Justices, businessmen, Knesset members, journalists, government ministry jobs and in pretty much any other position you could imagine.

This is particularly true of Israel's Druse, Bedouin and Circassian minorities, who insisted on serving in the IDF and being subject to the compulsory military service like everyone else from the beginning of Israel's statehood.

So much for the 'apartheid ' and 'ethnic cleansing' you hear so much about!

Julio Cesar Pino is another matter entirely. He's a tenured Associate Professor in the Department of History at Kent State University, specializing in Latin American History. He has always endorsed a Marxist, anti-American point of view and was an agnostic until 2000, when he became a Muslim and quickly integrated a jihadi point of view into his belief system. Pino’s Muslim name is Assad Jibril Pino.

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In an April 2002 guest column for the Kent State campus newspaper, Pino penned an effusive tribute to Ayat al-Akras, a teenage Palestinian suicide bomber who had murdered two Israelis at a Jerusalem supermarket on March 29. In that piece -- titled “Singing out Prayer for a Youth Martyr” -- Pino insisted that Akras was no terrorist but had “died a martyr’s death … in occupied Jerusalem, Palestine.” Pino also derided President Bush as a “numbskull,” and called for boycotts of all Israeli and American products.

In 2005 Pino wrote another lovely letter to the Kent State campus newspaper, this time applauding University of Colorado professor and academic plagiarist Ward Churchill for his “righteous obsession with European and American genocide and terrorism against peoples of color all over the world, from 1492 to 2001.” Pino also wrote that during the Cuban missile crisis, President John F. Kennedy had planned a “genocide against the Cuban people”; that President Bill Clinton had killed “more than 500,000 Iraqi children” by imposing sanctions against Saddam Hussein in Iraq; and that “cocaine cowboy” George W. Bush had “added an extra 100,000 corpses to the pile of brown colored [Iraqi] corpses.”

Pino has also been very public that he considers his role not that of a teacher but that an indoctrinator, who refers to his students at Kent State as his "little jihadists" and his “beloved Taliban.”

Pino was also a frequent contributor to the now defunct weblog Global War, which described itself as "“jihadist news service” that provided “battle dispatches, training manuals, and jihad videos to our [Muslim] brothers worldwide.”

In one of his screeds for Global War, was titled “Sister Detonates Herself to Eliminate Shia Traitors.” This piece was a love letter to a female suicide bomber who had killed 41 people in Iraq.

So his calling for genocide against an entire nation is not exactly new or out of character.

Pino's far from alone in Academia in taking a paycheck from a society he despises and is doing his best to destroy, one poisoned mind at a time. I'm sure the administration at Kent State if asked would mouth a lot of pious homilies about academic freedom, freedom of expression, a university as a home for diverse views...we've heard it all before. Besides, he's got tenure, something the university chose to grant him. So it is endorsing his views by protecting them.

But the fact is that you hear a lot of voices like Pino's and precious few from the other side. Does Kent State support calls for genocide? I have a feeling their reaction might be different if Pino was screaming something like 'death to blacks' or death to an African country. Some opinions ought to be beyond redemption in a free society, let alone given the shield of tenure.

The American university system is in dire need of major reform, and our society's survival may well hinge on it. Mark Steyn is entirely correct in his book,'The End Of America' in referring to this issue as the head of the snake.

-Selah-

( hat tip, Aussie Dave at Israelly Cool for the starting point)


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