In light of Anonz’s recent comment I found an article that not only supports what he is saying but goes into it a bit deeper with the dirty details and the key players. No surprise that the players are the conservative repugnicants. They are the ones who always want the government to stay out of business and avoid regulation as long as?….You guessed it…as long as THEY are making money. 

But as proven in the past and most recently on a monumental scale, when their greed, gets them into a bind, they are the first ones crying out, wanting to enforce the rules and laws. McCain is shouting loudly lately-as if he ‘cares’. Remember what I said about the disease ‘greed’ yesterday? AND…the taxpayers…well we, the taxpayer who didn’t get to enjoy any of the big money profits on those phony bundled sub-prime papers, we get to bail out those businesses by paying for their debt and failures. Hmmm…Sound like the repugnicants are socialists to me – they are obviously socializing the debt of the big Wall Street Firms….I’m sure you’re thinking the same.

So here’s a little didley for you:

‘The public bailout for AIG is estimated at $85 billion. According to one report, that’s more than the Bush administration spent on Aid to Families with Dependent Children during his entire time in office. That amount of money would also pay for health care for every man, woman, and child in America for at least six months.’  

How does that make you feel?  Me?  A bit pissy. 

So are you just dying to know how this happened…who the key players are?  The repubs name is Phil Gramm. Heard of him? He was a Senator representing the good ‘ol state of Texas, and he’s responsible for coming up with the Commodity Futures Modernization Act and sticking it into  the budget bill. So what does it do? Well….it pretty much rips into the America Act which was designed to keep regulators from controlling new financial tools described as credit “swaps.” This is what I mentioned above: Instruments like sub-prime mortgages that are bundled up and sold as securities. 

‘Under the Gramm law, neither the SEC nor the Commodities Futures Trading Commission (CFTC) were able to examine financial institutions like hedge funds or investment banks to guarantee they had the assets necessary to cover losses they were guaranteeing.’

Whoa.  And if your jaw hasn’t dropped yet, let me just throw out that the market for these fancy financial instruments is estimated at $60 trillion annually, almost four times the entire US stock market!

And here’s a bit of icing on the cake:  Senator Phil Gramm wanted it completely unregulated.  Oh..I’m not done yet…so did Alan, as in Greenspan. Remember when I mentioned the other day that he was saying how this was the worst economy since the depression? Well…he supported the legislation too.  Do any of these people not talk out of both sides of their mouths? Their idea of fun is playing with fire for profit, and all at the expense of us, the taxpayers. 

So where is McCain in all of this? No surprise, he’s a player too. If he gets elected most likely he will choose Gramm as his Treasury Secretary.  You can believe they will be gabbing about the good ‘ol days when Gramm was in congress and McCain was in the senate, both in the midst of the Savings and Loan crisis, which compared to the present situation, the S & L scandal looks pretty tame. 

When Reagan was president, congress deregulated the Savings and Loan industry in much the same way that Gramm made sure there were no laws hindering the Wall Street biggies. S & Ls simply lobbied until they had less regulation and then began making rampant, unsound investments.  Sound familiar? How can we take McCain’s public concern seriously during this present financial crisis when at that time he was immersed in the historic collapse of 747 S&Ls? 

Charles Keating, the man who headed up Lincoln Savings and Loan of California is another player. Because the S&L industry managed to get congress to increase FDIC insurance from $40,000 to $100,000 on deposits, the irresponsible investing of people like Keating began to put taxpayer insurance funds at great risk of loss. To make a long story short, Keating placed money in junk bonds and questionable real estate projects.  Because many other S&Ls followed suit the Federal Home Loan Bank Board (FHLBB) began to push for a regulation limiting these dangerous speculative “direct” investments to 10% of an S&L’s assets.  

You can believe that Keating wasn’t happy about this so he called on his pal Alan Greenspan, who produced a study saying that there was no danger in ‘direct’ investments. Well, it didn’t convince the FHLBB so after a closer look at Lincoln Savings and Loan who were making even more historically bad investment decisions, a  federal investigation was launched.  Oopsy, what to do now? How about we call on our dear Senator McCain and see if he can help?

This is when the ‘Keating Five’ was formed which included McCain and four other US Senators. They met with the then chairman of the FHLBB, Edwin Gray sending the message to basically lay off of Lincoln and chill on the investigation (Oh by the way, McCain was hesitant  to attend this little meeting and Keating, behind his back called him a ‘wimp’.  Just a little something to lighten up this subject and put a smile on your face. I know this is not a laughing matter.) Well they didn’t back down but Lincoln stayed in business with the rest of the S & L’s until the industry collapsed in 1989 and Keating  ended up in prison for 5 years. 

So what happened to McCain? McCain got slapped on the hand for bad judgement. That was it. Forget the fact that he was one of the Repugnicants who led deregulation of the S & L industry. Forget that he delayed the bailout until after the 1988 election to insure that George ‘W’ won the White House. And forget that he cost the taxpayers 1.4 trillion (!) the amount it cost to help those S & L’s, not to mention that if it  had happened in 1986 BEFORE the presidential election, the cost  would’ve only been 20 billion!  

And there are people out there who want McCain to be our next president. The man who is now touting that the markets need regulation. Yeah to save their asses!  They created it all.  Let the Wall Streeters fall. Help the taxpayers.  Maybe…just maybe, they’ll learn from this and we can create laws that won’t allow this to happen again. With McCain in office we can forget it; that’ll never happen. 

Ahh….I’m done. 

Readers: Surely you must have some comments on this. Blog me. 

Gratefully your blog host,

michelle ?

Aka BABE: Your Bad Ass Bitch Editor

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Well, I finally read Anonz’s comment from Wednesday, and I thought that I would re-post it just in case you hadn’t read it:  

Michelle

I hope you can warn as many people as possible that the bush administration is trying to provoke an attack on the American people. They are using the CIA to accomplish this goal.

The CIA is presently sending missiles into the homes of suspected Al-Qaeda leaders. They are targeting and killing the women and children of suspected members. The hope is that it will make them so angry that they will launch an attack in the US.

The bush administration see this as a last ditch effort to catapult national security to the forefront to help McCain.

So far they have bombed and killed 171 men women and children with their “smart” bombs. They will be launching missiles on another 243 women and children of suspected Al-Qaeda members. The missiles will be primed to hit the homes of these women and children merely to get their families to attack the US in time for the election.

Chaney has been informed that he will be prosecuted for lying to the Congress of the US to deceive them into authorizing an illegal war. They have to win this election. Their state operatives have been given orders to start procedures to disenfranchise OTW voters in key states.

Bush’s father has told him that the family will not help him if he continues to back Chaney. They want to remain in the good graces of the Saudis and they do not want the embarrassment of having a family member accused of war crimes.

This is going to get UGLY.

Anonz

All I can say is I am blown away and yet not. To provoke a war in order to secure ones position, ones place in office, is down right horrific. It is simply amazing to me what people will do in order to remain in power. Power of what? A world that is falling apart country by country in order to attain this sought after power, control.  Why is absolute power so narrow minded…so blind to seeing the big picture?

If I were extremely wealthy, one in a major power position, I would strive to keep those that weren’t as fortunate as me as happy as possible. I would want for them to feel proud about the work that they do. Not everyone has lofty goals and there is nothing wrong with that.  After all, it is the majority of people in every day life positions: the garbage men, the waiters, the bank tellers, really the people in service, that make life easier for everyone.  Let those people feel proud for whatever work they do by giving them advantages and benefits so that they can live a happy, healthy life, doing the work that makes others happy and healthy; doing the work that many others don’t desire to do.

What good does it do when those people who normally employ those positions are unemployed and struggling to survive.  Doesn’t it make sense for the people in power, those who are the wealthiest, to want the everyday person that makes their lives so much easier to be employed, paid well, with benefits, and proud of their work? Are those that have so much, whether it be control, power or wealth, so insecure of losing it all, so afraid that someone will take over their position, or god forbid acquire more than they, that they can’t see that the destruction and livelihood of the common person will inevitably affect of their posh lives? I just don’t get what they don’t get. Our economy is regressing. We are becoming a community that is separate and fragmented. Maybe those in power just all want to be kings while the rest are pauper peasants. It’s sickening to me.

Greed is like cancer: In order to survive and grow, it inevitably destroys its host, that which supports its livelihood, resulting in its own death. Crazy huh? 

I am so grateful to those that employ jobs that I would never desire for myself. It gives me the opportunity and the support to strive for something more. I never take for granted those that do the real tough jobs in this world. I appreciate those that make my life easier.  Why would I not want the best for them? When people are happy it is contagious.  And on the other side, when they are not, well that is contagious too. Depression breeds depression. When people are unemployed and not happy they resort to actions that they might not take otherwise.  

So, moving on…

In light of the past few days, I wanted to post the most recent video from our next president Barack Obama. It is his economic plan. Unfortunately the video is so new that it is not available on youtube yet, so click here to see it. 

He addressed many important issues but to me what stood out the most is when he said that we need to bring a responsible end to the war in Iraq.  We are putting billions of dollars every day into  Iraq, rebuilding their country when we should be rebuilding ours. Right on. We need to invest in the livelihood of America.  I believe his plan. McCain could care less how long we are in Iraq, meanwhile the Bush badmin are rescuing the corps and leaving the average person who’s losing their homes and now their retirement plans to fend for themselves. McCain will be the same same.    

Hi Debra:  Thank you so much for posting ‘White Privilege, White Entitlement & the 2008 Election. Tim Wise is right on in his assessment. Talk about bigotry running the gamut. When you lay it out that way, point by point, how can one not see how privileged whites are, how otw’s are treated as second class. 

Readers:  Especially those who are voting for McCain…tell me this has touched you in some way. Tell me that you’ll really think about what is right for our country. See outside of your own self needs, your own pocketbook.  Look at the state of our economy; look at the issues and remember that prosperity for everyone makes this world a better place for everyone.  Obama has a plan to improve the state of our economy. To read it click here.  What is McCain’s economic plan? He has been supporting deregulation for 2 decades; now all of a sudden he wants to regulate – he’ll lie as much as he can just to get the votes. Lastly, if you feel that you aren’t more well off then you were 8 or even 4 years ago, then you can expect more of the same same from McCain. 

We have one man: Bush and his cronies who wants to destroy Americans. McCain is and will be no different. And then you have one man: Obama who wants to restore and empower Americans.  To me the choice is crystal clear who should be president.

Gratefully your blog host,

michelle ?

Aka BABE: Your Bad Ass Bitch Editor

For archives dated before January 17, 2008 click on my Blogroll:

or click here: “A Day in the life of…”

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[youtube=http://www.youtube.com/watch?v=_KjsEs46C70&hl=en&fs=1]

This was posted in late August but I had never seen it until now. I thought maybe I should post it just in case some of you haven’t.  The article below was written by Doctor Phillip Butler, also a POW residing at the Hanoi Hilton,  the same time as McCain.  I pulled this from AlterNet, a non profit organization. 

John McCain is a long-time acquaintance of mine that goes way back to our time together at the U.S. Naval Academy and as Prisoners of War in Vietnam. He is a man I respect and admire in some ways. But there are a number of reasons why I will not vote for him for President of the United States.

When I was a Plebe (4th classman, or freshman) at the Naval Academy in 1957-58, I was assigned to the 17th Company for my four years there. In those days we had about 3,600 midshipmen spread among 24 companies, thus about 150 midshipmen to a company. As fortune would have it, John, a First Classman (senior) and his room mate lived directly across the hall from me and my two room mates. Believe me when I say that back then I would never in a million or more years have dreamed that the crazy guy across the hall would someday be a Senator and candidate for President!

John was a wild man. He was funny, with a quick wit and he was intelligent. But he was intent on breaking every USNA regulation in our 4 inch thick USNA Regulations book. And I believe he must have come as close to his goal as any midshipman who ever attended the Academy. John had me “coming around” to his room frequently during my plebe year. And on one occasion he took me with him to escape “over the wall” in the dead of night. He had a taxi cab waiting for us that took us to a bar some 7 miles away. John had a few beers, but forbid me to drink (watching out for me I guess) and made me drink cokes. I could tell many other midshipman stories about John that year and he unbelievably managed to graduate though he spent the majority of his first class year on restriction for the stuff he did get caught doing. In fact he barely managed to graduate, standing 5th from the bottom of his 800 man graduating class. I and many others have speculated that the main reason he did graduate was because his father was an Admiral, and also his grandfather, both U.S. Naval Academy graduates.

People often ask if I was a Prisoner of War with John McCain. My answer is always “No – John McCain was a POW with me.” The reason is I was there for 8 years and John got there 2 1/2 years later, so he was a POW for 5 1/2 years. And we have our own seniority system, based on time as a POW.

John’s treatment as a POW:

1) Was he tortured for 5 years? No. He was subjected to torture and maltreatment during his first 2 years, from September of 1967 to September of 1969. After September of 1969 the Vietnamese stopped the torture and gave us increased food and rudimentary health care. Several hundred of us were captured much earlier. I got there April 20, 1965 so my bad treatment period lasted 4 1/2 years. President Ho Chi Minh died on September 9, 1969, and the new regime that replaced him and his policies was more pragmatic. They realized we were worth a lot as bargaining chips if we were alive. And they were right because eventually Americans gave up on the war and agreed to trade our POW’s for their country. A damn good trade in my opinion! But my point here is that John allows the media to make him out to be THE hero POW, which he knows is absolutely not true, to further his political goals.

2) John was badly injured when he was shot down. Both arms were broken and he had other wounds from his ejection. Unfortunately this was often the case — new POW’s arriving with broken bones and serious combat injuries. Many died from their wounds. Medical care was non-existent to rudimentary. Relief from pain was almost never given and often the wounds were used as an available way to torture the POW. Because John’s father was the Naval Commander in the Pacific theater, he was exploited with TV interviews while wounded. These film clips have now been widely seen. But it must be known that many POW’s suffered similarly, not just John. And many were similarly exploited for political propaganda.

3) John was offered, and refused, “early release.” Many of us were given this offer. It meant speaking out against your country and lying about your treatment to the press. You had to “admit” that the U.S. was criminal and that our treatment was “lenient and humane.” So I, like numerous others, refused the offer. This was obviously something none of us could accept. Besides, we were bound by our service regulations, Geneva Conventions and loyalties to refuse early release until all the POW’s were released, with the sick and wounded going first.

4) John was awarded a Silver Star and Purple Heart for heroism and wounds in combat. This heroism has been played up in the press and in his various political campaigns. But it should be known that there were approximately 600 military POW’s in Vietnam. Among all of us, decorations awarded have recently been totaled to the following: Medals of Honor — 8, Service Crosses — 42, Silver Stars — 590, Bronze Stars — 958 and Purple Hearts — 1,249. John certainly performed courageously and well. But it must be remembered that he was one hero among many — not uniquely so as his campaigns would have people believe.

John McCain served his time as a POW with great courage, loyalty and tenacity. More than 600 of us did the same. After our repatriation a census showed that 95% of us had been tortured at least once. The Vietnamese were quite democratic about it. There were many heroes in North Vietnam. I saw heroism every day there. And we motivated each other to endure and succeed far beyond what any of us thought we had in ourselves. Succeeding as a POW is a group sport, not an individual one. We all supported and encouraged each other to survive and succeed. John knows that. He was not an individual POW hero. He was a POW who surmounted the odds with the help of many comrades, as all of us did.

I furthermore believe that having been a POW is no special qualification for being President of the United States. The two jobs are not the same, and POW experience is not, in my opinion, something I would look for in a presidential candidate.

Most of us who survived that experience are now in our late 60′s and 70′s. Sadly, we have died and are dying off at a greater rate than our non-POW contemporaries. We experienced injuries and malnutrition that are coming home to roost. So I believe John’s age (73) and survival expectation are not good for being elected to serve as our President for 4 or more years.

I can verify that John has an infamous reputation for being a hot head. He has a quick and explosive temper that many have experienced first hand. Folks, quite honestly that is not the finger I want next to that red button.

It is also disappointing to see him take on and support Bush’s war in Iraq, even stating we might be there for another 100 years. For me John represents the entrenched and bankrupt policies of Washington-as-usual. The past 7 years have proven to be disastrous for our country. And I believe John’s views on war, foreign policy, economics, environment, health care, education, national infrastructure and other important areas are much the same as those of the Bush administration.

I’m disappointed to see John represent himself politically in ways that are not accurate. He is not a moderate Republican. On some issues he is a maverick. But his voting record is far to the right. I fear for his nominations to our Supreme Court, and the consequent continuing loss of individual freedoms, especially regarding moral and religious issues. John is not a religious person, but he has taken every opportunity to ally himself with some really obnoxious and crazy fundamentalist ministers lately. I was also disappointed to see him cozy up to Bush because I know he hates that man. He disingenuously and famously put his arm around the guy, even after Bush had intensely disrespected him with lies and slander. So on these and many other instances, I don’t see that John is the “straight talk express” he markets himself to be.

Senator John Sidney McCain, III is a remarkable man who has made enormous personal achievements. And he is a man that I am proud to call a fellow POW who “Returned With Honor.” That’s our POW motto. But since many of you keep asking what I think of him, I’ve decided to write it out. In short, I think John Sidney McCain, III is a good man, but not someone I will vote for in the upcoming election to be our President of the United States.

AlterNet is a nonprofit organization and does not make political endorsements. The opinions expressed by its writers are their own.

So readers, what do you think? This man was right there in the midst of it all with McCain.  A very interesting piece of writing from someone who spent time with him. What really got to me the most however is the fact that so many of these POW men are not in good health and have died or are dying. That alone is a strong reason to note vote him in.  In my opinion Palin is just not qualified to take over should he die during his term if he is the elected president.

PS: I wrote this last night as I had to leave early this morning.  Just wanted to say, Anonz: I buzzed your comment briefly.  I have to run. I think you have warned everyone already just by commenting. But just in case some readers don’t read the comments – which would be weird for this blog, but I have to say that when I read other blogs I don’t always. So..I think I will reiterate your words tomorrow after I do a thorough read of it later. Will comment on the rest of the comments later too if necessary. Have a good one…   

Gratefully your blog host,

michelle ?

Aka BABE: Your Bad Ass Bitch Editor

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[youtube=http://www.youtube.com/watch?v=G7CRDSZ3Pl4&color1=0xb1b1b1&color2=0xcfcfcf&hl=en&fs=1]

So…how’s everyone doing out there? I am particularly asking those that have been struck by yesterday’s financial disaster:

‘The Dow Jones industrial average lost more than 500 points, more than 4 percent, its steepest point drop since the day the stock market reopened after the Sept. 11, 2001, attacks.  About $700 billion evaporated from retirement plans, government pension funds and other investment portfolios.’

Lehman brothers has filed the largest bankruptcy in American history and Merrill Lynch was rescued by Bank Of America. And one man says the economy is doing great. Ahhh…okay. 

Although Greenspan says this is the worse economy he has even seen,  McCain has the audacity to say that the fundamentals of the economy are still strong. Wha’at?!  What planet is he on?….And more succinctly as Obama asked, ‘Sen. McCain, what economy are you talking about?’ Yeah, what economy is he talking about?  The economy of the top 4%; the big wig earners?  Certainly not the everyday average person, and certainly not all of the people whose retirements plans and pension funds have evaporated. 

Open your eyes. What world does McCain live in? Does he not realize that inflation is rising, real wages are declining, and that people are still foreclosing on their homes?  Oh yeah…remember, he said that he was ‘out of touch’: 

‘It’s easy for me to be in Washington and frankly be somewhat divorced from the day-to-day challenges people have.’

-Sen. John McCain

If you ask me, there is no excuse for him to be out of touch. Not while he’s in the running for the presidential position. I bet McCain wishes he never opened his mouth on that one. Well, we can certainly count on a few more ‘priceless and enlightening quotes’ for the text books…He didn’t lie when he said the economy isn’t something he understands as well as he should. You got that right John. You’ve proven that. 

Sen. McCain, what more will you reveal to us in the coming weeks?

Readers:  Any of you hit personally by this? Comments? Thoughts? Rants? Blog me.

Gratefully your blog host,

michelle ?

Aka BABE: Your Bad Ass Bitch Editor

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Italy:  You are correct – there are many who are bigoted but I don’t think those that are think that the world will go down in a blaze of smoke. No, the bigoted ones feel that McCain is the answer to our survival as a country: ‘God forbid a black president – no never! It will be the demise of America!’  Let’s hope that those who think that way will be the minority in this election.  

Fredrick: The polls might be fixed…who knows.  Unfortunately common sense is not that common, and unfortunately you can’t learn it like one can acquire book smarts. Anyone can be informed and book smart with enough time and reading  but you can’t learn common sense. You either have it or you don’t…kind of like ‘street smarts’. I would much rather be born ‘dumb’, so to speak, with common sense knowing that I can learn, than be brill with no common sense. Therefore in regards to this election, don’t rely on common sense…Hell, just getting past all of the BS so we can get to the issues is difficult.  No, good marketing of the candidates is usually how a party wins.  The people who don’t take the time to get informed will pick the person who’s in their face the most.  However, my feeling is because Obama is black, bigotry is playing a huge role this time around, and unfortunately it is more common than common sense.  

Ivan: How sad. You sound angry and vindictive. You have grouped Russians together just like you have grouped Americans together by stating that ‘the US will finally get what they have wished upon Russia for the last ten years.’  Would I ever say that I welcome the downfall of another country? No, never.  What ever you are referring to here, it doesn’t really matter, but in defense I will say that I have never wished anything bad upon Russia or the Russians, or for any country for that matter. 

Why would I not want the best for any country even if the country I reside in is not living up to it’s potential as a world leader? I guess that’s why the saying ‘Misery loves company’ is well known.  Yes, we vote into office who we feel will best run the country, or at least we try to – we all know corruption happens at the polls. But we also know that most of the time it is not the people of one country that strike a deal with another country; it is our governments, and the corps, and the bills that control the government. Our leaders have proven to be corrupt at the expense of the people. But back to you Ivan…What you are wishing upon us, for McCain to become President, will not only be bad for America but as Doug pointed out, the rest of the world too. How narrow minded your wish is. 

Delatam: I agree with you…It will be the fall of Modern day Rome if McCain is elected.  Sad too that you wish it upon us.  Again, here you are giving shit to the white US citizens, and I may say rightfully so in many respects, but you, like Ivan are coming from a small place. McCain in office will only empower those whites leaving the OTW’s in a worse place than they are now.  Is that truly what you want? If not, then talk about ‘cutting off your nose…’  If so, then just say so instead of giving shit to the whites when you are acting just like one by giving your support to McCain.  You’ll be calling us bigger pigs if he becomes president with his policies. 

Pierre: So you too are wishing for the fall of modern Rome. You don’t see it as a bad thing. Wow.  

ZL: That Azir is interesting…I don’t get why he writes you personally and asks you to post it – why doesn’t he just comment on your blog? Looking forward to reading it. 

Readers: How disappointing to get all of theses comments from people around the world that wish for the US to go down.  Yes, I believe in ‘an eye for an eye’ when it comes to perpetrators but when it comes to a country as a whole where innocent people are involved, I have never in my life wished for misery to rain on an entire country.  I see us as world citizens with different cultures and backgrounds living in different parts of the world, the space that we share. Yes some citizens are better than others but would I wish for the fall of a country just because of bad behavior of some of the citizens? Does the fall of a country make others feel greater? Seems so.  Or is it just the US because we are the preeminent world leader? What other country would you like to see in this position besides the US? 

Hmmm…this world citizen thing…I realize we have a long way to go. Yes, there are many bigoted people in this country, but I believe bigotry unfortunately is part of humanity. What does it say when one points out bigotry of one country and then turns around and acts similarly? I don’t understand it. Until we as world citizens rid ourselves of this ‘disease’ we will never truly be equal citizens of one world.   In the big picture, the world is so small. It is too bad we can not share this space equally, and wish the best for all of the citizens. It is what I wish for.  Obama thinks of us as world citizens and will give us the platform; not McSame Same.

That’s my write for today…Carry on readers. 

Peace for everyone and always….

Gratefully your blog host,

michelle ?

Aka BABE: Your Bad Ass Bitch Editor

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