Bailout Failure

This started as a comment to another comment. It has grown into something more. So I will do my first new post in over a month.

I think I was not understood about the bailouts. It was likely me being obscure, and maybe a tad trite, that caused that misunderstanding. I didn't say let them fail. I alluded to that we should take them over and undo the too big to fail part. For the bailouts it has gotten to the point where it is pretty much just paying bonuses. Of the largest banks/financial institutions that received bailout money (and stroke of the pen multi-billion dollar tax breaks in the past year), the vast majority of those paid out more in executive bonuses than what they made in profit. Billions of dollar that they didn't make went into their top Executives pockets. Where did it come from? The US Govt. by way of the Fed printing money.

The Fed, whose current printing policy, is a single word. Infinite. That is the amount of money that the Fed is willing to produce to bailout FUTURE risky investment practices of the largest banks is... infinite. And the banks aren't doing risk management any different now than they were before they created a worldwide crisis that almost plunged the entire world into a global economic depression.

Now I do understand that there was and to an extent still is 10s if not 100s of dollars in fake assets called derivatives floating out there... and it was and maybe still is this ethereal financial game of hot potato. However the bailout money that was supposed to go to fix that hasn't. We still very much have the same problem. The banking answer however is to take real property and (getting to be almost fake) government money to bolster what is actual assets. Only by doing that they are devaluing everything that they touch. Fact of the matter is that if we had thrown money at the S&L crisis and hope the industry would fix itself then we would be in a depression today. In fact the S&L crisis and deregulation is what led us here in the first place because of the creation of derivatives to stop the financial collapse then. When they were created the creator warned that they needed to be heavily regulated which the paraphrased response was, 'The market will take care of itself and the people who will trade in derivatives will understand the complexities and do so responsibly. How did that work out? We are still in danger of massive collapse no matter what the Politicians espouse.

A we have massively failed with bailouts. Yes the system is slightly more stable. But at what cost? Well let us take just one of the money pits. AIG. Now they have received multiple times the amount we first gasped at when Hank Paulson held a gun to our head. AIG first started with saying they needed $75 billion not to fail, we gave them $86 billion to start, as of last month they had received at least $182 Billion of US Govt. money (not including tax breaks) and Geitner was working to get them more. Ok you can shake your head at the sad state of affairs. But there is a punchline, which side you want to believe is your choice.

Days before Geitner gave AIG everything they wanted and more, when we were into AIG for no money at all, the CEO of C.V. Starr (yes, Hank Greenberg) had a deep understand and said that AIG was not insolvent but simply had liquidity issues. He was of the opinion that the bridge loan would wipe out assets detrimentally and the Federal Govt. needn't get involved because AIG had $20b in assets they could use and there was investors that would invest $30b to make AIG liquid and get them past the temporary issues they were having. That is $50 billion and none of it our money. C.V. Starr, 12% stock holder of AIG and major share holder wasn't allowed in the room when Geitner made the deal with AIG. I guess C.V. Starr's solution didn't involve robbing our great nation so they didn't want to hear from them. Now AIG is devalued and they suck at the government corporate welfare tit in exclusion to fixing their issues.

What a different day this would be if the flood gates were not opened.

Now what is the solution? Well part of it is regulation pre-Reagan days and more to deal with the new financial world. I know the current thieves say that will bring the financial system to ruin. Well the CEO's and major players that made the strongest economic force the world has ever seen say regulation is what is needed. So the whom is right? The people that built the economy or those that think 'greed, for lack of a better term, is good' and destroyed the strongest economy the world has ever know? I think if you want to fix something you talk to a builder not a destroyer.

Also you break them up. Chase, BOA, Wells (Norwest owning the Wells Fargo name), Citi, and conspirators have actually managed to get bigger, yet still manage to fall out of the largest world banks at the same time. Break off 49 state bank (North Dakota already has a state bank) and put walls between their investment banking and the money we deposit with them. A dozen massive banks could easily be several hundred different companies and should be. Yes, their are many that say that breaking up corporations raise prices and make us less competitive as a nation. Really? Corporations always tend to stifle in the name of expediency, and small business tends to push innovation.

And for those that remember, AT&T forecast massive rate hikes declining technological advancement, and deteriorating infrastructure if their monopoly were to be broken up. How did that work? Infrastructure vastly improved with some help from regulation on the state level, technological advancement blew up, and frankly if I called how I do now under the AT&T monopoly I would see $500+ phone bills a month instead of the $100 total I do now.

Well that is where I am coming from. The only change in banking that has helped us is if we deposit money in one branch it doesn't take 4 days to make to the other branch anymore. Everything else has gotten worse in my opinion. To big to fail equals too big to exist. The revolution starts now.

What do you think?

Partisan Warriors

For those that drink to deeply from the koolaid, believe everything that is shoveled to them and espouse definitive generalized statements just because of a D or R that is associated a persons name. Grow a pair and learn to think critically.

If you have a singular news source and especially if it is a talk show host (radio, TV, print, and internet) then start getting other sources. For example World News Network. News from all over the world, from all sorts of different backgrounds and political alignment. Because where you get information is not nearly as important as the accuracy of that information. Your political talking points distributors and those that make masses amounts of money pedaling fear and hate is not the best sources of news. In fact no matter how accurate a personality (radio, TV, print, and internet) they don't usually source their comments, and if they do, it can simply be their take on what that source is saying. Or in some examples the source is simply another personalities opinion... this is of course more rampant at Fox News than anywhere else.

As a progressive liberal, whom is also a bottom line fiscal conservative, let me tell you I have listened to too many personalities that are President Obama apologist as well. Then I have heard those that simply regurgitate what they have heard on radio or TV, and not source any of it. I have been guilty of that with numbers myself... even after I read them the number that I heard will trump the number that I read. Titillation is king I guess.

However there are to many that don't even try. The Left side is LESS prone to do this than the Right. The Left personalities frames things in a different fashion than the Right personalities, whom just tells you what to think. The main apologist in my sphere are Ed Schultz, Randi Rhodes, and Mario Solis-Marich. The right wing talkers here that tow party line and fear monger are to numerous to mention. The point is that blind loyalty to someone else's view point is lazy and stupid for the sake of being lazy and stupidly uninformed.

Yes I know that staying informed takes work. But if you are going to have a strong opinion know why you have it. Read and source your belief system by at least reading bills and how certain political figures have voted and ask those leaders to explain their reasoning.

Why this rampage through the lazy leading the dumb, or lazier? Well It has always been a pet peeve. But more to the point I was reading the local news on one of the local TV channel sites about Governor Ritter deciding not to run for a second term. Of course like all sites now there was a comment area that for some weird reason my browser takes me to on that site before the story (that irks me too) low and behold the first thing I read is about how Ritter and the Democrats are ruining the country and making it safe for terrorist. And I am thinking, "Oh for the love of Pete!" I read on and the argument tends to rage between Big D Democrats, Big R Republicans, Big C Conservatives, and Big L Liberals that spew generalization after generalization all regurgitated from talking points from political talk personalities. Not an original idea amongst them and almost nothing to do with Governor Ritter's service. I say almost nothing because I didn't read it all and saw nothing that directly pertained to Governor Ritter. Almost completely about slurs.

Unbelievable!

Ok I'm not one for the gossip pages or celebrity rags. I am actually starting to loath these professional experts and their worthless conjure and overall stupidity. Ok before I completely lose you let me explain.

The other night I was sitting watching TV and on came a one of those complete waste of energy and airwaves with t5he top 10 celeb scandals of 2009, most of the celebs I have never heard of and most of the "scandals" I was blissfully unaware of. However my back was hurting from a home improvement project I was failing at and the remote was across the room. So I figured that some mind numbing celeb claptrap would be the perfect thing to let my mind wander to figuring out the problem I had encountered.

However one of the celebs I did know. David Carradin (sp?). Not that I am a fan or care about him... I just didn't know that he had died so it did grab my attention. Almost immediately when they started talking about the auto-erotic asphyxiation I started to lose interest and even more so when Medical Examiner and professional limelight hound, Dr. Batra (I don't care if I spell his name right) started conjuring. I really don't like the Quincy want-to-be's. They seem to only care about fame and don't have Krugman's character. I was tuning the tv back out when another Quincy want-to-be that seemed to be a vapid man with pretty face with the title of, I believe, "Expert Forensic Detective" said the weirdest thing... behind lines of conjure and likely self importantly babbling about fetishisms, the strutting moron intoned, "And it is important to investigate the possibility of crossdressing!" With an almost comical seriousness to him. How moronic can one get. Not the moron per say. Well the hateful moron too, but the show and the network that allows that misinformed tripe to be aired.

First in the purely sexual context it is called Transvestic Fetishism. Second it is not important. Nor is the any of the other sexual preference/fetishes. I don't care about his fame, or the exact way that he died. That is a dysfunction all of its own to be that into the morbidity details. It does matter if he was with 3 girls, two boys and a Bruce Lee look-a-like while hanging upside down from a giant phallus when he died. If the issue should be the poor man died no matter how, and if the people directly or indirectly responsible for his accidental death fled and/or didn't take responsibility for their actions.

And if David was a Crossdresser and wasn't just into the sexual fetishism of it, then more power to him. But it makes no difference his death and least of all is not important to his death that it has to be banded about in the same way one would say "it is important to note that X had several bouts with CANCER!"

So spotlight seeking hack (I don't know his name, nor is he important enough to waste my time to justify him by looking up what it might be) and those that listen to such spotlight seeking hacks. And actually to the bigotry against the Transgendered. Crossdressing is not a disease. You can't catch it, it isn't fatal nor does it even make one sick. It is almost more a fashion choice and gender identity expression. If you don't wear the clothing of the opposite gender that you were born (GG be careful to judge here I would guess that 95% of you or more have crossdressed), it should not be seen as anything more controversial than big floppy hats.

'Tis the Season to be FRANTIC!!!!!!

As I rest between shopping ventures with my "Chasing" play list (complete play list on the bottom of the page) pumping from my computer to my home speakers and enveloping the room and washing clean of the hustle and bustle of my shopping day. Strangely Queensryche seems to wash me clean and reinvigorate me as I write this.

But has it always been this way? You know in the annuals of fanatic American Christmas. Please remember that it is more the Germany Immigrant influence on our society that makes Christmas a bigger deal than it was at our founding. Remember one of the most decisive victors that the Colonist had over the British was on Christmas because they didn't really celebrate Christmas in the grand fashion that the German Mercenaries did.

Quick note to the Pentagon and involved U.S. politicians; those that do not heed the lessons of history are deemed to repeat it. No major Empire or Empirical Power (though I am loath to the idea that is exactly what we have become) has ever been able to maintain an Empire or win a war through the use of mercenaries. Rome came the closest with forced inscription and moving the unit too far way from home. That however would never work in today's world. No one is fooled when there is a 15% draw down in Iraq of U.S. armed forced to be replaced with a 30% build up of "contractors" which is merely a gentle euphemism for mercenaries or "Soldiers of Fortune". The United States of America is better than that and has to be better than that. If those in office don't realize this soon you will all be replaced. Rant done for now.

--------------------

Ok my friend came over as I was writing. I had to wrap it up and go out shopping again. I didn't get back until after midnight and I still have shopping to do. I almost want to cry. Honestly I hurt all over. The muscles I use when raising kids are not the same ones I use for marathon shopping apparently. Or maybe more to the point, I'm way out of shape. Sadly I admit that I have not used my Wii Fit, nor have I done any workout for a few weeks. I have plenty of excuses... all of them bad and none of them really hold water. I know what I need to do and I allow myself make excuses why I am not going to do it. It effects my overall health and well being. I know and I need to get on what I need to do.

However back on subject it is the next morning and I am hurting mentally and physically and I am not yet done. You know one of these days when I know I have marathon shopping to do I think I might just do it en femme. Just get a nice outfit together, put on some heels, makeup, and stockings, then go to it. Maybe even manage some time at a salon for a break. Mentally it might be a boon to be out of the closet. Physically I think my back would hurt less (because heels force me to stand straighter) though my butt might hurt more, I think my calves my be in the same shape they are now (I think most stockings and hose actually aides in circulation).

However there is always the bigot, danger, and gawk factors. Which is why I am still mostly closeted. But one day I have to be brave right? A big Charlie Brown...

*SIGH*

At any rate back on subject. It seems that the Holidays are too much anymore. It used to be more fun to holiday shop (I am being inclusive with Halloween, Thanksgiving, birthdays, Easter, and Christmas), and now it is seriously like work. Maybe that is because I am concerned about more than just the two of us and there is five of us. It is likely at least part of it... but still... how do you carry forward when it gets to be so hard?

Sorry that I rambled, ranted, carried on, carried over, and likely made you want to hari kari. I am scatterbrained, so it seems the posting will be.

Thoughts, opinions, generalized take on any and/or all subjects contained within?

The Government doesn't work! Does it?

I started this post as a political discussion about health insurance reform, and to a smaller degree health care reform. I was starting to rant about not understanding how people don't get that such a large portion of our economy going to health insurance is not a good thing. I was going to visit Executive compensation and point to overall problems with corporations in America and abroad. As I( was doing this I was answering things I have heard people say time and again and almost immediately the voice of a friend and a very smart woman rang in my head.

"I'm against health care reform," she proclaimed when I broached the subject, "because the government doesn't work. It never does anything right." I was about to fly into the discussion armed with statistics, actual numbers, and percentages. But alias it wasn't to be, because she was running on an errand that I can completed only a few minutes before and our schedules both revolve around our respective children. And in a way I'm glad that I didn't get the chance.

Because the next day, on our way to school, listening to David Sirota get into it with a conservative caller about the facts of health insurance cost public vs. private. The caller kept yelling "Government never does anything right!" And I'm driving, talking to radio as Dave tries to get through to the caller that just repeats "Government never does anything right!" until he is disconnected for screaming repetitively. And as Dave wraps up why medicare is the government doing something right I can't help but say, 'Come on Dave! The perfect example is the simplest one. The roads are the best example of the government doing something right. Then later while waiting for my oldest to get out of school I was listening to Thom Hartmann, and texting friends & family, some professional talking head implied that the goverment didn't work in relationship to regulating something or other. That is when it all crystalized for me.

Does any one really believe that the Government does work? Look at the roads. I will grant you some states and some municipalities do it better than others. Then look at them work in concert with the Interstate system. Our roads is a modern miracle. Look internally. Most Americans use publicly provided utilities. Does the water come on? Does the sewage system take it away and clean it? How about the electric and gas? TV anyone? Though I agree somethings need better regulation in those concerns look at it. It works. It does it well. No matter which way you do it. Cable, satellite, over the air. Look at phone service, mobile and home. Hospitals, emergency services, educational institution, et. al. These things do not work for all despite the government, they work for all because of the government.

Believe it or not most of the modern conveniences that you take for granted as a basic right, was only going to be reserved for the few. It is the government that forces company to serve the public good, not companies doing it from their over flowing heart. It is due to government oversight regulation that our country became great. Robber Baron's just drain our resources, use up international good will, and attempt to enslave everyone. Just look at the nations that don't protect their people. Think of all those places without running water or education for anyone but the ultra rich. Think about how your life and that of your children would change.

So next time you think about saying it, or hear someone else say, "The government screws everything up!" Think about the road...

Touch

Have you ever noticed how little we touch each other? Not in a lewd or far to personal fashion. But more along the lines of handing a clerk cash or a credit card. Even that has gotten to the point of making the contact less or non existent with self checkouts, swipe machines on the counters and even the chip embedded cards that you just wave in the general direction of a sensor.

My point? My point is that it seems that all connection is lost. Don't get me wrong. I don't want anyone to come up and start grinding on me, nor I to someone else. However I did notice last week in a drive through that the clerk and I went to great pains, to the extent of it becoming awkward, to avoid touching the other person at the window when giving them a couple of bills and some change. It struck me as odd.

So odd in fact that it crossed my mind on subsequent visits. So yesterday, the awkward situation came up again. This time I didn't worry about it. My hand brushed the drive through window person's hand as I delivered payment. And once again as I gently collected my Extra Long Chili Cheesy Coneys. Strangle it made me happy. It seemed to make the drive through teller smile as well. I was a lot happier with my purchase and the interaction. Maybe this is just in areas where there is a higher dependence on cars to travel. I don't know. But it was nice to have the contact, or more to the point, it was nice not avoiding the contact.

Has anyone else observed this?