Post Scripts

Posted by Tina

“Government seizes control of GSEs, by Glenn Somerville

“Our economy and our markets will not recover until the bulk of this housing correction is behind us,” U.S. Treasury Secretary Henry Paulson said at a news conference. “Fannie Mae and Freddie Mac are critical to turning the corner on housing.” *** The two companies, publicly traded but also serving a government mission to support housing, were put in a conservatorship that allows their stock to keep trading but puts common shareholders last in any claims. *** Their top executives were ousted. Freddie Mac chief executive Richard Syron and Fannie Mae’s CEO, Daniel Mudd, were replaced by David Moffett, a former top official at US Bancorp (USB.N) and Herb Allison, a former top official at both Merrill Lynch and pension fund TIAA-CREF. *** In addition, the U.S. Treasury will immediately take $1 billion equity stakes in each company that could grow to be as large as $100 billion each and which would be senior to both existing preferred and common shares. The senior preferred stock in each GSE will carry warrants that will give the government an ownership stake of 79.9 percent. *** Paulson said Fannie Mae and Freddie Mac were so large that “a failure of either of them would cause great turmoil in our financial markets here at home and around the globe.” *** Several analysts said the move should help instill some confidence in shaky credit markets and lower mortgage costs. *** The Treasury Department said the plan to shore up the finances of the two government-sponsored enterprises, which have $1.6 trillion in debt outstanding, should not cost U.S. taxpayers money in the long run and could even return cash to the government coffers eventually.

A good plan. The market will get a much needed shot in the arm, taxpayers are protected, investors take the last position (taking the hit) and a potential for investment return for the taxpayers is part of the mix. They are calling it a “bailout” but the word is generally understood as a tax dollar giveaway. It is not.

by Tina Grazier

Since one of our friends on the blog recently called me stupid because of my support for Sarah Palin I thought it would be fun to post a clip from a journalist who agrees with him. Naturally, Ill then have a few things to say…

Sarah Palin is a woman. Hillary Clinton is a woman. Women just love voting for other women. Women candidates are interchangeable. Therefore, women who would have voted for Clinton are obviously going to vote for Palin. If this syllogism strikes you as stupid, that’s because it is. – Jessica Reaves, Chicago Tribune

Continue reading “Hope” Defined in Obama Campaign” »

Would that it could last, at least in terms of presidential leadership and foreign policy, during times of war.

Posted by Tina

WASHINGTON – Sens. John McCain and Barack Obama are putting aside partisan politics for a joint appearance at Ground Zero to mark the seventh anniversary of the Sept. 11 attacks. The Democratic and Republican presidential nominees, in a joint statement released Saturday, say they will appear together at the World Trade Center site on Thursday “to honor the memory of each and every American who died” in the 2001 attacks. AP

Posted by Tina

Seven-million strong American Muslim community was dismayed at the Islamophobic rhetoric at the Republican Party Convention that ended in St. Paul, Minnesota on September 4, 2008. Former Massachusetts Governor Mitt Romney and former New York City Mayor Rudolph Giuliani in their speeches made bigoted remarks that equated Islam with terrorism. Middle East Online

Suggestion: The responsible parties for “equating Islam and terrorism” are the terrorists that cite passages from the Koran to justify their ugly and vicious deeds. Instead of blaming Republicans for being phobic it might be more effective and useful to address the source of true insult to your religion…eradicate that problem and the imagined phobia will disappear.

Posted by Tina

Republican Recycling, by David Harsanyi Denver Post blog

This morning, Republicans tell me that a worker at Invesco Field in Denver saved thousands of unused flags from the Democratic National Convention that were headed for the garbage. Guerrilla campaigning. They will use these flags at their own event today in Colorado Springs with John McCain and Sarah Palin. *** Before McCain speaks today, veterans will haul these garbage bags filled with flags out onto the stage with dramatic effect, no doubt and tell the story. *** What you see in the picture I sent you is less than half of total flags, a Republican official emailed. We estimate the total number to be around 12,000 small flags and one full size 35 flag. *** Im not sure what the DNC was supposed to do with unused hand-flags, frankly. But the Republicans are obviously questioning someones patriotism here.

One patriotic commenter named Kevin had the perfect (and simple) solution:

What are they SUPPOSED to do with them? The VFW, Boy and Girl Scouts of America, American Legion and the Marine Corps League would, with a simple phone call, have been happy to pick up these flags and deal with them properly.

Posted by Tina

Ooooh, youre gonna luuuuuve this…

Notable & Quotable WSJ

From a New York Times editorial on July 3, 1984, on Geraldine Ferraro’s nomination for vice president: *** Where is it written that only senators are qualified to become President? . . . Or where is it written that mere representatives aren’t qualified, like Geraldine Ferraro of Queens? . . . Where is it written that governors and mayors, like Dianne Feinstein of San Francisco, are too local, too provincial? . . . *** Presidential candidates have always chosen their running mates for reasons of practical demography, not idealized democracy. . . . What a splendid system, we say to ourselves, that takes little-known men, tests them in high office and permits them to grow into statesmen. . . . Why shouldn’t a little-known woman have the same opportunity to grow?

Aaaahhhhhhh…the power of the historical record!

Jack this ones for you!

TRENTON, N.J.- Cries for help inside a Trenton, N.J., home turned out to be for the birds. Neighbors called police Wednesday morning after hearing a woman’s persistent cry of “Help me! Help me!” coming from a house. Officers arrived and when no one answered the door, they kicked it in to make a rescue. But instead of a damsel in distress, officers found a caged cockatoo with a convincing call. – AP

Sorry…I had to settle for an uncaged parrot for the mug shot.

Posted by Tina

Apparently enlisting children to snoop on the neighbors is OK as long as its for the right reasons. Just ask our cousins across the pond…

Children aged eight enlisted as council snoopers, By Martin Beckford, Sarah Graham and Betsy Mead Daily Telegraph

Children as young as eight have been recruited by councils to ”snoop” on their neighbours and report petty offences such as littering, the Daily Telegraph can disclose. The youngsters are among almost 5,000 residents who in some cases are being offered 500 rewards if they provide evidence of minor infractions. *** The “covert human intelligence sources”, as some local authorities describe them, are also being asked to pass on the names of neighbours they believe to be responsible, or take down their number-plates. *** Ealing Council in West London said: “There are hundreds of Junior Streetwatchers, aged 8-10 years old, who are trained to identify and report enviro-crime issues such as graffiti and fly-tipping.” *** Harlow Council in Essex said: “We currently have 25 Street Scene Champions who work with the council. They are all aged between 11 to 14. They are encouraged to report the aftermath of enviro-crimes such as vandalism to bus shelters, graffiti, abandoned vehicles, fly-tipping etc. They do this via telephone or email direct to the council.” *** Some are assigned James Bond-style code numbers, which they use instead of their real names when they ring a special informer’s hotline. *** In one case, a family was followed by council staff for almost three weeks after being wrongly accused of breaking rules on school catchment areas.

Any ideas on what “fly-tipping” could be? And what do you think about kids reporting neighbors to authorities for things like dropping food…something that happened to a young mother feeding her baby? Is this a good idea…smart, clever, or a little too Nazi for Chico?

Posted by Tina

When its on Oprah its deemed a spiritual experience…something to be lauded and praised. But Sarah Palin has been criticized for her decision to give birth to her son, a baby she knew would be born with Downs Syndrome. Feminists have been particularly cruel and condescending toward her. So I was quite interested when I came across this story on a blog…I think you might be also:

Continue reading “Different Strokes Indeed!” »