Feds, Wall Street race to try to save Lehman Brothers

Correction: Secretary of the Treasury, Henry Paulson, is not the former head of Lehman Brothers.  He is the former head of Goldman Sachs.  Oops.  I have to admit confusing the two Wall St firms.  Mr. Paulson has however, visited China more than 70 times, and it is reported his promoting of the bailout of Freddie and Fannie will greatly benefit the Chinese investors who stood to lose without a government takeover.  Now we can breathe easier…my mistake.

Well, here we go again.  Another Wall St financial firm in trouble, and somehow the Fed is involved in negotiations to save it.  I’m sure it is just a coincidence that the Secretary of the Treasury is the former head of Lehman. It is also just a coincidence that Lehman’s CEO, Fuld, is currently a member of the New York Fed’s board of directors.  These fine upstanding gentlemen, who just coincidentally are involved in both the Wall St firm, and the Fed, are assuring us that no taxpayer money is going to be used to bailout Lehman.

Even though Lehman can go directly to the Fed to draw emergency loans if it needs a quick source of ready cash, there’s been no indication that Lehman has done so in recent weeks.  I am sure, though, that if they did draw emergency loans, it would be coincidental, with neither Sec. Paulson or Mr. Fuld having any knowledge of it beforehand.  Especially if taxpayers get stuck paying the bill on bad loans.

Here is another example of why we need to get rid of the Central Government Bank (Federal Reserve), and use the constitutionally mandated gold standard for currency.  Our monetary system is used to take care of elite bankers, while the average middle class/working class wage earner is stuck paying higher taxes, and deaing with higher inflation.

An Associated Press article on this can be viewed on Yahoo! News here.

Moratoriums – A Letter Written to the Daily Sun News

This was in today’s edition of the Daily Sun News:

Moratoriums

Well, the city council of Sunnyside reminds me of Mickey and saying his first word. Seems the only word this council knows is moratorium.

It is a good word for a council that is the problem and not the solution for this city.

Council members Restucci and Hancock long ago put a moratorium on themselves to read council business before each meeting. So they have a right to use moratorium.

Moratorium means not having the smarts to solve a problem.

Hey, city council, let’s put a moratorium on gangs. Then they cannot commit anymore gang activities. Let’s put a moratorium on unions. Then this council can balance the budget for next year. Let’s put a moratorium on elections, then they won’t be challenged for their seats on the council.

Hey council, put a moratorium on Republicans. Councilman Gehlen and all would love this.

Hey, let’s just put a moratorium on crime.

Yes, council, you have the answer. Moratorium until we get a council that can solve problems. Then you council members can just keep sitting there and showing movies in the park instead of solving the problems. You seem to be good at it.

/s/ Don Padelford, Sunnyside

Daily Sun News – Sunnyside, Washington.

Aimee Allen’s *Unofficial* Ron Paul Revolution Video

For fans of Ron Paul, here is a video from Aimee Allen:

More Gunfire in Sunnyside

More gunfire occurred in Sunnyside recently, this time around 4th St.  Coaches advised high school students to be careful when leaving sports practice the day this happened.  What is upsetting is the endless seeking of “payback” by those perpetuating these acts of violence.  I can just imagine the mentality of these guys: “Your stupid gang did something to my stupid gang, so that means I have to do something to your stupid gang to get even.”  Then, afterwards, a member of the other gang starts thinking: “Your stupid gang did something to my stupid gang, so that means I have to do something to your stupid gang to get even.” 

Without being checked, this will be an endless cycle of violence and property damage.  It will not help the community, or the people involved.  There is an opportunity here for local church leaders to get involved.  Desmond Tutu was instrumental in breaking the cycle of violence in South Africa, with his Christian message of reconciliation.  While our situation in Sunnyside is vastly different, I believe local clergy could make a difference by taking a vocal stand against this violence.  This is something that cuts across denominational lines, so all of our churches could get together on this.  Just a thought, and a hope for things to get better.

See article in the Daily Sun News for more info.

Liberty is Bigger Than Any One Candidate

Yesterday, Ron Paul held a press conference in which he announced four 3rd party candidates (Bob Barr-Libertarian, Chuck Baldwin-Constitution Party, Ralph Nader, Cynthia McKinney-Green Party) had signed onto a platform of issues on which they are all in agreement.  The issues center on the Iraq War, protecting civil liberties, balancing the budget, and auditing/reviewing the Federal Reserve.  It is no coincidence that the Republicans and Democrats are not amused.  They would rather argue about lipstick on a pig, and other trivial issues.

The system is rigged on Presidential Debates, whereby these 3rd party candidates are not allowed to participate and share alternative views on issues.  This cheats voters out of the opportunity to see a true debate.  If four 3rd party candidates with extremely divergent world views can all agree on these issues of Liberty, and democratic process, why would the Democrats and Republicans be opposed?  Because they don’t want to lose power.  Power over principle is the governing philosophy that has me upset at the Republicans right now.  That is why I must vote for a 3rd Party candidate this year.

This is a difficult decision for me.  McCain has sensed something is wrong, since the Republicans have, at best, been lukewarm toward his campaign.  That is until he picked a Vice Presidential candidate with some leanings toward pro-liberty views.  He has managed to fire up a substantial part of his base.  While I feel better about his turning to a pro-liberty running mate, I am still unable to vote Republican with McCain at the top of the ticket.

Make no mistake, I have been and continue to be a Republican.  I support Ron Paul’s efforts to reform the party from within.  However, when it comes to this Presidential election cycle, a message needs to be sent to the heads of the Democratic and Republican parties that reform and open debate of issues must be allowed to occur.  A vote for one of these 3rd party candidates will send a strong message.  With any luck, the two parties will pay attention and allow for a true discussion of issues.

For detail on the issues the 3rd parties have agreed on, follow this link to the Campaign For Liberty

“Big Red One” Merchandise To Be Sold at Sears

Surviving Word War II vets will probably be surprised that their Big Red One combat patch has been licensed by the US Army for a clothing line.  The First Infantry Division is the oldest division of the US Army and has seen continuous service since 1917.  In Word War II, it was one of two divisions that stormed Omaha Beach on D-Day.  Now, Sears has inked a deal with the Department of Defense to launch a line of clothing centered around the Big Red One insignia.  Revenue from this venture will most likely be put towards ongoing recruiting efforts.

This is an interesting turn of events.  As a child, I can remember some controversy over surplus Army field jackets being worn by civilians, with the patches still on them.  Many in the military will not like this new approach to turning their service insignia into a merchandising brand.  On the other hand, in this new age of an all-volunteer force (of which I was a part for a time), the military must look for ways to promote itself in the youth culture from which it draws its recruits.

Personally, I don’t really care if they put the logo on merchandise or not.  From Saving Private Ryan, to Band of Brothers, and other movies, video games, etc., Hollywood has been cashing in on military history quite a bit.  Why shouldn’t the military be able to do the same?  Having said that, some of the bingo players at the VFW might not like it.  The rank and file troops who were not told this was coming will be caught off guard also.  In our brand identity obsessed culture, it was bound to happen sooner or later.

See the story at Politico: Army, Sears clothing deal irks lawmakers

and Military.com Sears to Sell Army-Approved Clothing

Update: SUNNYSIDE SLAYING: Officer’s stolen gun may have been used in shooting

This is from the Tri-City Herald: SUNNYSIDE SLAYING

First step: Admit we have a gang problem in Sunnyside that is not being effectively dealt with.

Second step: Change strategy and tactics to more effectively deal with this situation.  Proper storage of guns is a place to start.  How was this particular firearm being stored?

Also, recognize that the ‘property crimes’ the Sunnyside Police are too busy to investigate have now lead to law enforcement firearms being used to commit murder.  Police must be active in fighting the petty theft, tagging with graffiti, and vandalism taking place in the community; or it will lead to more devastating crimes like this one.  City Council are you listening?  Push for more effective policing.  This should not be where you want to cut the budget right now.  Start planning on changes in how the Police Department is being run.  Look at the crime fighting techniques from other cities that are reducing gang crime for ideas.  Restructure the Police Department to better respond to changing threats within the community.  Do not continue to operate with a business as usual attitude.

US Is “More Communist than China”

The Federal Government is now the mortgage industry.  The complete takeover occurred over the weekend.  Other than the taxpayers, is anyone else being held accountable for this?  No one is being prosecuted for cooking books and telling everyone that all was o.k.  As a matter of fact, the executives responsible are being paid millions in severance packages.  Both Democrats and Republicans are responsible for this.  Both McCain and Obama favor this government takeover of financial institutions.  

For some thought provoking analysis of this check out this CNBC article:   US Is “More Communist than China”

Corporations are generally chartered by the states.  Fannie Mae and Freddie Mac are chartered by and for the Federal Government.  They are GSEs (Government Sponsored Enterprises).  That generally means if you are part of the ‘in’ crowd, your Washington cronies will take care of you no matter what happens.  Someone has to pay the bill, of course.  Thus, the taxpayers face increasing economic burden while Wall Street and the politically connected act as parasites on the economy.

The Ludwig von Mises Institute has a detailed article on this matter: Fannie Mae: Another New Deal Monstrosity

The Soviet Union showed that a big central government run economy is less efficient, and ultimately doomed to fail.  Its time to get the Government back to the business of governing, and out of the business of nationalizing more private industries.

At least one person in the Senate is getting wise to the situation: Senator Bunning Says Paulson Acts Like Socialist, Should Resign

Sunnyside Teen Fatally Shot

There is a reason that soldiers refer to killing the enemy as “wasting” them.  When a human life is ended prematurely it is just that, a waste.  Over the weekend bullets were flying in the 15th St area of Sunnyside.  As the bullets sprayed the neighborhood, somehow a 16-year-old-boy was fatally shot.  While details are sketchy at the time of this post, it appears the boy who was shot may have been the one shooting up peoples’ houses.  See the article in today’s Yakima Herald

Wake up Sunnyside!  Since the beginning of 2008, we have seen shootings in front of Ace Hardware (directly across the street from the high school), City Hall itself has been fired upon, a young girl was found shot and dumped in an irrigation canal, and now this most recent ‘waste’ of a teenager’s life.

Some of my co-workers are high school students.  One described how scared he and his Dad were when they heard the gunshots.  He said he had never been more scared in his life.  Is this the way we want our kids to grow up? 

It is time for the Sunnyside Police to step up to the plate and patrol the community.  Rarely do I see a police cruiser in town, and never have I seen an officer actually walking a beat.  In this most recent example, the shooter was apparently walking down the street, shooting at houses.  Here’s a wake up call.  It will not cost the City of Sunnyside any more to have officers walk.  The high price of gas should not keep officers from occasionally walking down the sidewalk.  This is especially true downtown, where crowds can be seen at night milling around the U.S. Post Office (which now has to lock its doors night due to vandalism), and close to the before-mentioned City Hall, which Sunnyside Police failed to notice, had been fired upon one weekend.

The Sunnyside Police Department needs to engage with the community, not just waiting for emergency calls to react to.  The Sunnyside City Council needs to do more than just pass an ordinance to ban gangs.  They need to prompt the Police Chief into action.  The new City Manager seems to be trying to hint at that, when he recently said they should staff more officers on shifts that receive the most calls for police attention.  Duh.

How many more of these incidents do we need before we change the way we are conducting ourselves?  Let’s get proactive, not reactive.  This is incredibly important for teens, like my young co-worker who is scared for his life.  This is incredibly important for my own children who are nearing school age.  This is important to business owners who are trying to attract customers downtown.  This is important for many reasons which are too numerous to list here. 

We need more than just a statement that: “Police said they were continuing to investigate and asked anyone with information about the case to call them at 509-836-6200.”

Sarah Palin is ‘the new Margaret Thatcher and Ronald Reagan’

Ok, so I am not the only one who thought of Ronald Reagan after seeing Sarah Palin’s big speech at the Republican Convention.  Turns out some other folks were reminded of greatness from years gone by also.  So much so that Michael Reagan devoted a column to the idea, Welcome Back Dad

As if that is not enough, our friends across the pond wrote an article for the Telegraph about much the same thing: Sarah Palin is ‘the new Margaret Thatcher and Ronald Reagan’

 As a person who grew up with Ronald Reagan as President, echos of his brand of conservatism are welcome.  The Republican Party has strayed from the small government philosophy of its roots.  It is refreshing to see someone like Sarah Palin reinvigorate this movement.

McCain’s pick reassures some skeptical Republicans of what kind of appointees will be made to the Supreme Court (prominently, James Dobson who recently wrote: McCain’s Choice of Palin ‘Outstanding’), as well as to what kind of cabinet may be chosen, should he be elected.  Call me a Libertarian leaning Republican, a Ron Paul Republican, a Paleo-Conservative, or another label of your choosing; Sarah Palin resonates within my political heart.  Following this train of thought, RealClearPolitics has an article entitled: The Libertarian Case for Palin
 
To sum this up, Obama’s choice of Biden for a running mate did nothing for me.  McCain’s choice of Palin did everything.
Follow

Get every new post delivered to your Inbox.

Join 1,687 other followers