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Political Tipping Point

As with all politics of late, a great and grand crisis looms, it is the modus operandi of the current administration.  Our conundrum has been framed like a B western movie; shall the good guys (Democrats) continue to pay the ever expanding list of entitlements and pet programs or fall prey to the sinister and evil Tea Party thugs who wish to push the poor and downtrodden back into the work camps of self reliance?

Really??  No not really, this is what happens when message trumps substance.  The Demagogic Democrats have been handed their scripts, associate the Tea Party as radicals, position yourself as the defender of Medicare and Medicade, place Social Security in that Gore lock box and call the opposition rigid and unyielding, and most of all, repeat after me, “fair and balanced”.

This my friends is the change they believe in, never mind our government as a whole is borrowing 60 cents of every dollar spent just to service the mounting debt, never mind bureaucratic laden agencies such as the Department of Education, EPA, Amtrac, USPS, and the litany of others rife with inefficiency, we need to save these vital and crucial agencies?

In a phrase: sorry but that dog won’t hunt.  The message and answers are really simple; do we as a nation continue to “feed the beast” of rampant government growth, or do we begin to lay the foundation of accountability of the governing process.

This process of accountability began as a loosely formed group of individuals spurred on by the rant which at the time seemed like nothing more than another talking head venting his anger at government oppression; thus spawned the Tea Party.

The Tea Party is not a Republican platform, it does not consist of anarchist, it is not radical, it is the voice of frustration created by the never ending insular government leadership who fail to recognize the voice of the people.  To minimize its presence, to attack it’s viability, is a large miscalculation by its oppressors that is clearly based in the fear that finally a large majority of active individuals has had enough!

Regardless of how the manufactured passion play on the raising of the debt ceiling is resolved, more and more individuals realize a power shift is underway, we as a people are returning to a land governed by the people, and that reality has, and should strike fear in the political base for now they are accountable and no amount of polling catch phrases will stop that process.

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Considering the Democratic loss in Massachusetts which is considered the bastion of Democratic ideology you would think Obama and his handlers would give more than lip service to the media about their current negative tact and direction.

Initial finger-pointing was directed at Coakley where the Obama brain trust used every adjective possible to distance themselves from the dramatic loss of “Ted Kennedys” seat, but wait their always is George Bush and the last eight year drama they can leverage!

In the usual highly scripted Obama response the same sing songy Obama style language was directed at “the mess we inherited”, where blame or abdication thereof was placed firmly on the door step of the Bush administration, only this time the tread has fallen off the track.

Two times Obama has been inserted at the last moment to save the day, it happened in NJ and now MA, but Obama’s eloquent power of words and actions do not meet, he is asking voters to trust him, then in the same breath he projects blame to the past administration shunning all responsibility. By taking this approach Obama continues to insult the intelligence of the American public, and cement the glaring fact that leadership is not his strong suit.

Victor Davis Hanson is dead on when he states “I believe President Clinton provided some crucial insight when he said, “people would rather be with someone who is strong and wrong than weak and right.” It’s not that people are uninterested in who’s right or wrong, it’s that people will only follow leaders who seem to actually believe in what they are doing. Democrats have missed this essential fact”

Hanson goes on to state about Obama’s style “A technocracy – many Ivy-League-educated and without much experience outside academia and government – pushes legislation most people do not want but is nevertheless judged to be good for them.”

Clearly a detached elitist view when people are treated as ignorant children to be told what is correct and that they should be glad that Obama’s “benevolent guidance” is being offered, also to accept Obamas efforts because they are what Obama chose to pursue and are good for the people regardless of what those very same people may think!

Continuing on the elite theme, and like all great “Utopian kings” they exempt themselves from their own laws, all hail the King!

In a continued effort to focus on past mistakes or the perceived weakness of the Bush years, Obama has directed his negative hit machine on the bank bailouts, along with the evil Wall Street bankers. It is important to note Obama, Gethner, and Summers all bought into TARP with Obama signing the bill while he was still a Senator, so more of the same double speak when the rubber hits the road from this administration.

Both JFK and Clinton faced the same challenges in their first year, both were able to adapt and thrive, for all intent and purpose Obama should be able to do the same. But as of today Obama’s efforts are beginning to resemble the old adage, “he is just a one trick pony”, we have three more years to figure that one out, but the ponies feed bag has become one vote short of a meal, and this will make Obama’s “change we can believe in” all that more difficult, anyone know what time the Bush re-runs are on?

ALLAHPUNDIT  Paul Ryan Tells NRO: The Dems are going to try reconciliation
ED MORRISSEY  CT poll shows support for ObamaCare crumbling
ACE OF SPADES HQ  Obama: Hey it turns out that 3000 years of warfare in the Middle East wasn’t going to end just because you elected and unprecedented, historic guy made of pure awsome
THE DAILY CALLER  Obama: I ran into a “buzzsaw” in Massachusetts over health care
DOUG POWERS  Michael Bloomberg Actually Has a Good Idea
GATEWAY PUNDIT  Scott Brown, a Protestant, holds special relationship with local Cistercian Nuns
LA SHAWN BARBER’S CORNER  Blogs for Life
LEGAL INSURRECTION  No returns for Nelson and Landrieu reputations
PUNDIT AND PUNDETTE  It’s the Obama, stupid
SLUBLOG  David Brooks and the real President
THE OTHER MCCAIN  Rush Limbaugh, Jew-Hater?
AMERICAN SPECTATOR/PAUL CHESSER   “Green” means living off the government
DANCING CZARS  Michelle Bachmann respond to the sexist remarks of Snarlen Arlen Specter
FLOPPING ACES   (VIDEO) Yeeeaarrghh-ahahahah!!!!!!!!
MICHELLE MALKIN  Conservatives:  Beware of McCain Regression Syndrome
NICE DEB  About Obama’s Approval Ratings
OUTSIDE THE BELTWAY/JAMES JOYNER   USA Parliamentary Democracy?
POLIPUNDIT  Polls
RIEHL WORLD VIEW  Oof!: Obama’s restaurant comment, so “Camelot-ish”
VODKAPUNDIT   The Fall Guy
THE WESTERN EXPERIENCE  One election doesn’t change anything, right?
VOTINGFEMALESPEAKS!  ACC to left wing loons at PoliticalArticals.net  Moi is a “frenzied republican sociopath” basking in the Nudist Brown victory!  hahaha
CATO@LIBERTY The Empire Strikes Back
CHRIS MOODY  It’s Free Market Day in Washington DC!


It was reported by Johna Goldberg this morning that Newsweek  Magazine has enlisted the services of President Obama to write a piece on the current tragedy in Haiti. Although a noble cause, and truth be told Obama will have one of his staffers write the piece, this request is further evidence of the blurring of the lines between the press and the political process.

Also of note is the fact that in the past Newsweek has had a rather aggressive tilt in their coverage of Obama and his administration. The question that comes to mind is; why not just issue a press release which is normal SOP in cases similar to Haiti’s tragedy. Considering this point, the next viable question is what is the motive or payoff for the exclusive scoop to Newsweek?

Payoff:  Newsweek is one of Obama’s top supporters,  they have kowtowed and idolized Obama from the beginning, the bill is now being called due now that  Newsweeks redesign and change of  focus is coming out of the gate.  They need a home run to pull this off, what better way than to plaster Obama’s face on their newly redesigned rag.

Motivation:  All kidding aside, Obama loves Obama, no mirror is safe, I can see the Prez in 20 years (living in exile) paging through all the covers he garnered while in office, the man is a narcissist plain and simple.

Not to dilute the crisis in Haiti, but this is not the best use of office to be pandering to the media, I don’t think the subscription rate in Haiti will increase due to this article, and by now becoming Author In Chief it further degrades the office of President.

Now if I can only find that recipe  piece by Lincoln, or was that FDR, no Trueman, I am making the President some humble pie!

ACE OF SPADES HQ   CNN: GOP leads in generic Congressional. 48-45
FLOPPING ACES   Extraordinary US military central to Haitian Relief Efforts
ED MORRISSEY  Local news shows are where the biased action is
NICE DEB  Black Panther Malik Z. Shabazz hits back at republican critics
OUTSIDE THE BELTWAY   Pentagon Fort Hood Massacre Review Finds Nothing New
POLIPUNDIT   Do Coakley’s Polls Show Her Trailing?
RIEHL WORLD VIEW  Sparkman:  Census worker planned, rehearsed suicide beforehand
VODKAPUNDIT   Bay State Blues
ANIMAL FARM  Finger Pointing
FRUGAL CAFE BLOG ZONE   Need a good laugh or two?  Check out the Martha Coakley photo caption contest at Hillbuzz
LISA IN TEXAS  Obama’s council of governors: Congress granted federal power to control us on a local and state level
VOTINGFEMALESPEAKS!  Obama?  Come stump for Coakley and you will see…a Boston Tea Party just for Thee, UPDATE; Tea Party ON!
Conservative Blog Network
DANCING CZARS   Martha Coakley I approve this message photo shop contest
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I am adverse in giving David Brooks any further attention, but…several adjectives come to mine; vapid, pseudo intellectual, narcissistic self professed “educated class” blowhole, pop to the surface rather quickly. Dave penned Tea Party Teens yesterday a wispy, dare I say view of anyone outside the liberal print media is uneducated kind of article, or as Dave phrases it a “fractious confederation of Americans who are defined by what they are against”.

Nice tat Dave here is the tit, Dave your rather snooty opinion carries no more weight than any other talking head, and for you to get all intellectual on our lowly tea party asses, deserves a dual, (of words).  Below lets address just a schooch of the lofty observations you alledge, point counter point, game on.

DAVE:  The public is not only shifting from left to right. Every single idea associated with the educated class has grown more unpopular over the past year.

MP: So then Dave you are saying the left, educated class as you put it is moving to the right, but the right is a “fractious confederation of Americans” does that not make the right smarter?

DAVE: The educated class believes in global warming, so public skepticism about global warming is on the rise. The educated class supports abortion rights, so public opinion is shifting against them. The educated class supports gun control, so opposition to gun control is mounting.

MP: First, yes, yes, yes on the oppositions stand, heres why, and let’s ponder a little.  Global warming, the educated class believes this because they believe in science, things they can prove, just look at all the evidence, this Dave  is the limitation of the elite intellect, and your liberal moonbattedness, (yes I know it is not a word).  Truth be told, even with the best science of the day, no one can prove this is not a normal cycle the earth is going through and there is little we can do to stop it, that’s the fatalist view, but this opinion is one that is making it’s rounds among the edumacated folk.  Before we tax the middle class into oblivion, more definitive unbiased information needs to be reviewed, remember scientist don’t get paid if they do not receive grants to do such.

DAVE: The story is the same in foreign affairs. The educated class is internationalist, so isolationist sentiment is now at an all-time high, according to a Pew Research Center survey. The educated class believes in multilateral action, so the number of Americans who believe we should “go our own way” has risen sharply.

MP: Dave lots of people are trying to kill us, America has been the have’s to the worlds have not’s that fact doesn’t engender a great deal of good will from third world nations.  In the past to overcome this label the U.S. government has either thrown money at the problem, or become occupiers, neither of which is in the best interest of the effected party or the United States.

DAVE: The tea party movement is a large, fractious confederation of Americans who are defined by what they are against. They are against the concentrated power of the educated class. They believe big government, big business, big media and the affluent professionals are merging to form self-serving oligarchy — with bloated government, unsustainable deficits, high taxes and intrusive regulation.

MP:  Large group, yes, fractious confederation, naw, real people Dave, one’s that work for a living or have worked hard and are tired of being taxes without representation best describes the Tea Party Movement.  As to the second part, is that a trick question, remember I am a fractious confederate, but either you are trying to fool us bumpkins or we agree on; “they believe big government, big business, big media and the affluent professionals are merging to form self-serving oligarchy — with bloated government, unsustainable deficits, high taxes and intrusive regulation”.  Why would anyone want big government Dave, it costs to much and is highly inefficient, big business, hey I am all for that, what my kind do not care for is unfair competition garnered by backroom political dealings with the help of lobbyist, and lastly we have been living in an “oligarchy” since JP Morgan, John D Rockefeller, and Senator Nelson W. Aldrich  met on  Jekyll Island in 1910 setting the ground work for the Federal Reserve, so woops too late we have been an oligarchy for 100 years now!

Chances are Dave you will never read this post and that is a shame, like you I have an opinion, and that opinion is you have been running in elite circles so long you have sorely lost touch with middle America.  In fact I would say you fear middle America, why else would you be so condescending in your article about the tea party movement?  Time to come down off that pedestal and talk to a few of us folk, you might be surprised at how cogent we can be when motivated by what middle America see’s as high crimes and treason being committed by our elected officials.  No hurry though, we don’t tire easy or give up when our freedom is at stake, take your time, maybe after cocktails at the club you could squeeze us in.

NICE DEB  Audio Mark Levine Takes on David Brooks
DAVID BROOKS  Tea Party Teens
ALLAHPUNDIT  David Brooks: What do these tea-party wingnuts have against the educated class
ALLAHPUNDIT  Chris Matthews: Every single “teabagger” in America is white
HUNTER BAKER  Secularism and Brit Hume
BRUCE WALKER  Our Second Civil War
GATEWAY PUNDIT  Schwarzenegger slams Obamacare & the Dem Bribe-Takers
MICHELLE (NEVER TRACK BACK) MALKIN  Darkness reigns: Obama and the Vampire Congress
NICE DEB  Video: The Dem’s Hostile Takeover of 1/6th of the economy
POLIPUNDIT  California Reform Initiatives
SISTER TOLDJAH   Because “man-made global warming” skeptics in Alaska rock and stuff
STAND UP FOR AMERICA  Open Mic Night
VILLAINOUS COMPANY  Defining Conservatism (MUST READ BLOGGER & FUNNY)
VODKA PUNDIT  Dropping Like Flies: Democrats Are Fleeing DC
WESTERN EXPERIENCE  Islamic organizations upset over new airport security measures
FOXWOOD  Finger Pointing
VOTINGFEMALESPEAKS!  Sarah Palin Crushes Barack Hussein Obama Junior; Updated
ON MY WATCH  Keep BIG Government out of Homeland Security and Healthcare
DANCING CZARS  Congress Votes to Outsource the Presidency
LISA IN TEXAS  NWO Political Media Technique: Problem-Reaction-Solution
FRUGAL CAFE   Freedom: Taking our country back…VIDEO
CONSERVATIVE BLOG NETWORK
COMMONSENSE & WONDER  Andrew Sullivan wants us to invade Israel
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Now that Obamas first year is behind us, and hopefully his benign payback to the lefts hopey changie agenda a specific focus on what the real problems are and how the political community is to blame for our economic woe’s.  In a report that was released in the heat of the health care battle this summer, the committee on oversight and government reform deftly pinpointed the smoking gun to the current economic crisis and the players involved.

Not surprisingly numerous high level Democratic and Republican names  litter the pages of the 28 page tome on how Fannie Mae and Freddy Mac’s involvement with the help of the well placed politicians and lobbyist’s practically guaranteed the bursting of the housing bubble.  The conclusions and sub text further cement the fact that neither government or politicians are capable of managing any enterprise without getting their pound of flesh.

Also within the pages of the report the names Barney Frank, Chris Dodd, Bill Clinton, Peter Orzog, Countrywide, Larry Summers, Rham Emanuel, and lastly Chuck Shumer.  Ironically for the exception of a few names these individuals have been tasked with “cleaning up the mess from the past”.  In pure political form the ones who created the mess are now the brave souls who will right the ship with the newly proffered Financial Reform bill now in the house.

The report, which can be read here, spins a tale of, cooked books, favoritism, outright tortuous interference, and copious amounts of cronyism all happening in full site of the regulators tasked to prevent such fraud.  The report shows that the proper regulatory oversight was in place but was cajoled, manipulated, and threatened to turn a blind eye to the political infighting.  This fact is highly relevant in that with the proposed “Financial Reform” legislation now being discussed by the very same offenders of the past policy is nothing more than a political game of propaganda to detract from the real causes of the failure of Fannie and Freddie Mac.

If you read the 28 page report (you should)  you gain an understanding on how the machine works, also evident is the prevailing attitude that the politicians cared little about expanding home ownership, but were more interested in placating and expanding their voting bases.  The pandering, back room deals, and favoritism shown in the Fannie and Freddie downfall  add to the continued mountain of evidence that government should not be involved in the management of any free enterprise, and without the threat of failure, accountability or fiscal restraint it came down to not if the GSE’s would fail but on who’s watch.

As we usher in a new decade “fundamental change” in fact must take place, but where that change must be fostered is on the shoulders of the people, the followers must become the leaders no longer accepting the hollow promises of our politicians rote.  The genius of the American system of freedom is we “currently” have choice, we just have to become better at remembering that key fact and put it to work, or we all will be learning Mandarin in due haste.

PETER GOODMAN  U.S. Loan Effort Is Seen As Adding To Housing Woes
ED MORRISSEY  Shocker: Yet another government intervention failure story
DOUG BANDOW  Another Boondoggle Bail-Out
JOHNA GOLDBERG  Capitalism Fingered as Fiend of the Past Decade
FLOPPING ACES  The Best and Worst of 2009 Part II
MICHELLE MALKIN  Under reported stories of 2009
NICE DEB  2010 May Not Be So Great Economically
POLIPUNDIT  A Republican Message for 2010
POLITICAL BYLINE  Quote of the day
STOP THE ACLU  It’s officially Obama’s Ball Now In 2010
SNOOPER REPORT  Dear Obama:  Who in the hell do you think we are?
VODAKAPUNDIT  Venezuela begins 2010 with electricity rationing
WESTERN EXPERIENCE  A Historical Perspective: The legacies of the Anti-War and Cold War Right
DIARY OF A MAD CONSERVATIVE  Non-affiliated voter numbers rising
GOODTIMEPOLITICS  The Stimulus set the states up for an even bigger mess this year
LISA IN TEXAS  Bilderbergers: Creating a New World Order or completing “Work of the Ages”?
ON MY WATCH  War on Terror: 100 Years War Redux? More Sacrifice?
VOTINGFEMALESPEAKS!  Al Qaeda spooks Obama into closing Yemen Embassy; the System is Working, right Janet?
CONGRESS & LAW  The global Financial Crisis: Policy and Legislation
OPENUREYES  Washington’s “Ten Most Wanted Corrupt Politicians” for 2009
DOLLARS AND NONSENSE  Banks borrow less from Fed crisis program
THE HUFFINGTON POST  Fannie And Freddie Receive Unlimited Future Funds To Stay Afloat   (lets see what happens with this)
365 DAYNEWS.COM  Fannie Mae, Freddie Mac CEO’s in line for $6 Million each in 2009 and ’10
BAILOUTTRUTH.ORG  Something every American should see…
DANCING CZARS  2009: The Day Pretense Died?
CONSERVATIVE BLOG NETWORK
COMMONSENSE & WONDER  Check them out!


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Now that 2009 is coming to an end, (without a list) what better time to take a moment and reflect on three key issues, one, where we were, where we are, and where are we going.  I am keeping it simple, I need the brain cells, they will be purged later tonight.

WHERE WE WERE:  Start date 9/11/01, newly elected President George W. Bush is interrupted during a junior high school function in Sarasota Florida, the message, Sir two planes have flown into the World Trade Center buildings.  Thus starts the “Evildoer” period of our history, with great emotion, public and political cooperation and a bit of revenge our country went to war, first Afghanistan, then Iraq.  Under the guise of patriotism the Republican party and its leadership choose to increase spending to untold levels while our men and women in theater drove in, basically de-yuppified Hummers offering the same protection against attack as the bought on the lot gas sucking bright yellow blinged out pimp mobiles so prevalent in the days of excess of the early decade.  But wait, WMD, although it is reported in certain circles that Sadam did have mass stores of chemical weapons, not being as dumb as he was made out to be Sadam got rid of all the evidence in the build up of the war.  You want proof!!  Nope.

Our Nation became weary when the made for television “shock and awe” turned out to be more awe shucks they are still shooting at us, and with the death toll of our brave soldiers mounting, Osama Bin Laden’s prophecy that America does not have the stomach for a prolonged war  began to ring true in many politicians agendas.  Thus created the “Big Lie” which is where we are.

WHERE WE ARE:  Circa 2006, due to mounting tension over the Gulf War’s and President Bush’s insistence we are fighting to protect our nation, the previously toothless Democratic party capitalizes on the Nations discontent and the attacks begin on Republicans who supported the war and it’s high price allowing the Democrats to recapture the majority in congress, Nancy Pelosi is nominated speaker of the house and the search for a viable Democratic candidate begins for the 2008 presidential election.  Enter Barack Obama, a slick talking, bright, made for prime time candidate sponsored by the far left political machine, with the financial support of another George, and the Hollywood dream makers in tow.  So efficient was this trilogy of handlers they sold 53% of the voting American public on the notion that our candidate “is different”, change is coming, and hope is not lost, the great government machine of the liberal party is here to “fundamentally change” Washington.  Knowing Obama could not get elected with his platform one click right of Karl Marx, they made one up!  Even the most strident of hopeyness followers are now questioning that decision. But it worked.

In less than one year our government and its debt have grown to unfathomable levels, a 10 month fight over the ‘need” for health care reform, (a promise and a debt to be re-payed to the trilogy) has taken precedence over all issues.  We were scared into a Stimulus Bill, closing of GITMO, a cadre of Czars, attacks on the First, Second, Fifth, Ninth and Tenth amendments, we all own numerous banks, and a couple of automobile companies, and have blank checks waiting for both Fannie Mae and Freddy Mac!  So the moderate candidate Barack Obama is not so moderate after all, but one promise was kept, our way of life has undergone “fundamental change”!  Now our nation is broke, in debt to levels that will never be paid, the division between Democrats and Republicans has never been wider, fractional groups within the two parties are forging their own way further distilling public opinion to unworkable consensus, we as a Nation of people are faced with a mighty challenge, and we the people will have to meet that challenge, read on to “where we are going”.

WHERE WE ARE GOING:  my finely polished crystal ball is smoking from this question, but in short, “where we are going” is up to the people of this nation.  Regardless if you are a strict Constitutionist, or a socialist left wing Che follower we all have equal interest in how our situation turns out.  Some of the changes that require “fundimental change” are in no specific order.  Term limits, being a career politician is like being a career criminal, the longer you are in the “Big House” the more you learn how to steal, murder, forge, or just plain lie.  Term limits would greatly assist in returning our country to its constituents, lobbying, junkets, pork, useless legislation, pandering would all be of less importance if one knew time was limited.  Would we loose some altruistic politicians (oxymoron) yes, would politicians loose the ability to get comfortable, hell yes, time has come and nothing will change without accountability and term limits.

Fiscal restraint, our politicians have to be made aware that efficiency is of  a higher order than unrestrained spending, that to have freedom one has to be free from massive debt, that the government cannot nor was it designed to be the constituents care taker, and that the money our government is spending might be easy to print but for our countries survival it has to stop.  Lastly and key to our future, our country needs leadership, not media darlings where every word is scripted, not defensive cover their ass in BS snake oil salesmen, not megalomaniac power hungry dictators of untruth, not a left or right, but a “just right” statesman with ethics and concern for the history and future of our Union, Polly Anna maybe, but one does have to have hope right?

So as the new year rolls in the key to this whole process is, perspective, with so many cooks in the kitchen via the air waves, internet, newspapers, it is easy to loose sight of the golden rule, “is it right, and would I like that done to me” or the more classic, “do onto others as you would have them do onto you”, FYI, it still works, and it is free.  Happy New Year From Moonbat Patrol

ED MORRISSEY  Choose the Obamaterism of the Year!
ALLAHPUNDIT  9/11 Commission chair: I can’t believe we’re still having these intel problems
ACE OF SPADES HQ  The 30 most disturbing ads of 2009
DOUG BANDOW  Final returns for Bush the Big Spender
MONTE KULIGOWSKI   Obama’s Game of false choices
DEBBIE SCHLUSSEL  The predictable Muslim response there is v.
GATEWAY PUNDIT  Best of the righest top ten conservatives of 2009
NICE DEB  My top 10 top 10 lists for 2009 and predictions for 2010
SCRAPPLEFACE  Obama warns against NWA 253 backlash intolerance
SISTER TOLDJAH   Breaking Rush Limbaugh rushed to hospital, (Update) Resting Comfortably
STOP THE ACLU  Two Americas: One struggling, one happy unionized and in government
THE WESTERN EXPERIENCE  Have a Happy New Year!!!
LEGAL INSURRECTION  Thanks for the old and new years
FRUGAL CAFE   Closing out 2009 with my own top 10 list…top 10 Sara Palin quotes!
LISA IN TEXAS  Obama grants immunity to powers to Foreign Interpol Over our Constitution!!  WTF
VOTINGFEMALESPEAKS!  Obama’s airport X-ray Nude scanners cannot detect vagina bombs or anus bombs!
CONSERVATIVE BLOG NETWORK
DANCING CZARS  Let’s close out 2009 with a Final Reality Change
JAKE TAPPER  Sick of the health care debate?
COMMONSENSE & WONDER  What’s Missing?
ON MY WATCH  China, India and the US- Fight for the Future Begins at Midnight

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Photo courtesy of Chez Eury

Capitalism: an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market.

The continued bailout frenzy by the Obama administration went on quietly after the markets closed last Thursday when the Treasury lifted the $200 billion dollar cap on allocated funds to Freddy Mac and Fannie Mae, in doing so congress gave the two agencies carte blanche in an effort to fix the failing giants.  Obama’s economic handlers are nothing if not consistent in that they believe throwing  money at failing free market lines of business is the only way to avoid a total economic melt down.  The latest move to shore up the GSE’s is being spun as an effort to kick start the housing market by freeing up liquidity. Once again Obamas attachment to Keynesian economic methodology is his modus operandi in fixing any problem.  But like all other attempts at moving markets by increasing the money supply, the bill eventually comes due and with substantial compounded interest, further increasing our national debt.

Both Fannie and Freddys failure in September 2008 were prior to Obama being elected and can be tied to the overall housing bubble bursting under the Bush administration, but it is important to note the only action to correct the problem by both Geithner and Obama has been to increase the ceiling from the original CBO estimate of 25 Billion in 9/2008  to 200 billion prior to last Thursday, and as of now the latest increase of no limit.

Two issues are blatantly obvious, first, the Obama team had no plan to stop the bleeding at the government “sponsored” (not owned or run) housing agencies, and second by not addressing the housing market early on and in a decisive manner,  the mole hill is now a mountain.

The current situation is so bad at Fannie and Freddy,  the newly (Obama) appointed CEO’s structured their golden contracts to be paid in cash, IE; not stock since neither Michael Williams nor Charles Haldeman have any confidence that the stock will have any value. But don’t fret, both CEO’s were given annual pay raises to 6 million each for their deft management of the failing housing giants. It is also being reported that the remaining managing executives are being paid a paltry 2 million each, hey it’s just paper right?

It is clear that the housing market was dismissed by the current administration for “greener” pastures, like health care, the stimulus plan, cap and trade, and for kicks a couple of car companies. It is also clear that nobody in the administration quite knows what to do with Fannie or Freddy, which if ignored further run off of equity and mounting foreclosures are sure to follow.

A possible reason for not addressing the GSE issue, is it does not serve, unions, the disenfranchised, or the far left political agenda that has a deep seated hate for “greedy Wall Street bankers” of which Tim Geithner was cut from the same cloth oddly enough.   Even though there is a large remaining balance in the boondoggle stimulus bill, the debt for keeping housing alive will be passed to the taxpayer.  Our bill as of today is 60.9 billion for Fannie Mae, and 50.7 billion for Freddy Mac, does anyone have change for a trillion?

The fundamental issue with Obama’s current policy is that it rewards the weak and punishes the strong, or in other words, bail out companies that are deemed to big to fail regardless if they failed on their own accord, and bail them out by using the tax base, the exact opposite of free market capitalism.

America was built on the pillars of trade and free enterprise, our country has excelled in this environment to where we as a nation are one of  last remaining superpowers. This is not by chance it is due to the innovation and freedom allowed to its citizens, if government continues to step in and bailout failing business by sticking its hand in the pockets of small business and entrepreneurs, our economy will be dictated by the massive debt we owe making our share all that smaller.  Not exactly the vision I had for our youth.

ED MORRISSEY  The new housing bubble?
CNNMONEY  Blank check sends Fannie, Freddie soaring
WSJ  After the Bailouts, Washington’s the boss
THE DAILY RECKONING  The trade of the NEXT decade
ACE OF SPADES HQ  Obama at 10:10 AM: I shall not rest until these terrorist are captured!  Obama at 10:40AM Okay, now watch this drive!
W. JAMES ANTLE, III  Cap and trade a possible casualty of health care reform
ROBIN OF BERKLEY  The Hypocrisy of the left
DANCING CZARS  Selected Data and False Findings
DEBBIE SCHLUSSEL  Was it really a “failed” attack?
FLOPPING ACES   Even the French President Prefers Bush to Obama
GATEWAY PUNDIT   3 days later…Obama finally comments on attempted Detroit terrorist bombing
ED MORRISSEY  Video: Now the system didn’t work
ALLAHPUNDIT  Video: Obama denounces Iranian crackdown on protesters
JAMMIEWEARINGFOOL  Thomas Jefferson wouldn’t have put up with this nonsense
LEGAL INSURRECTION  TMZ experts say ObamaCare will reduce the deficit and expand care
MICHELLE MALKIN   Clown alert:  Janet Napolitano says the “system works”.  UPDATE and J-No’s about-(clown) face
NICE DEB  About that executive order amended to immunize INTERPOL in America…
POLIPUNDIT  Priorities
SISTER TOLDJAH  The AP’s nauseating puff piece on Jimmy Carter
STOP THE ACLU   Obama finally makes a statement
THE VOLOKH CONSPIRACY Did the release GITMO detainees plan the Christmas terror attack?
WEASEL ZIPPERS   Rick Sanchez:  The terrorists weren’t in Iraq. We know that now.
THE WESTERN EXPERIENCE  Iran is just full of holiday cheer.
FRUGAL CAFE BLOG  Adweek names Rush Limbaugh “radio personality of the decade.
LISA IN TEXAS BLOG  Leftwing corruption of American good, Rightwing values and principals bad?
ON MY WATCH  The Arab Advantage: “swifter horses”; Little equipment
VOTINGFEMALESPEAKS!  Homeland Insecurity Janet’s little problem-enemy identification; They are Muslim, Janet, Muslim
COMMONSENSE & WONDER  Why is Obama’s Anti-Semitism Czar focusing on criticizing Israel?
CONSERVATIVE BLOG NETWORK

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Politico is reporting that the  Democrat-Republican duo of  Senator Chris Dodd and Sen Richard Shelby have been working diligently behind the scenes in an effort to produce a workable “bipartisan” financial reform bill.  The bills talking points are listed below.

• “We seek to end ‘Too Big to Fail.’”

• “We need to protect American taxpayers from future bailouts by enhancing our resolution regime.”

• “We agree that consumer protections need to be strengthened.”

• “We believe that our regulatory structure needs to be modernized and streamlined while preserving the dual-banking system.”

• “We agree that the Federal Reserve should be more focused on its core responsibility — conducting monetary policy.”

• “And finally, we need to modernize regulation and oversight of the derivatives market.”

Dodd’s first attempt was focused on the development of a single agency which was backed by the Obama administration which would have had oversight over the new agency. Republican deference of further consolidation of power under the presidents control was attacked quickly and efficiently by key Republican members, so much so that Dodd requested top members break into two member bi-partisan teams in an effort to find consensus.

Both Dodd and Shelby went on to state, “These talks have been extremely productive.” Many had feared that with Dodd and Frank involved the process would mirror the dissension of the health care debate, so far cooperation and bi-partisanship have been the rule.

Not unlike health care, many industry insiders and economists are of the opinion that the banking system has sufficient “watch dog” agencies, and the problems of the current crisis was due to political interference, and K street lobbyist. Several attempts as early as 2004 were proffered to the Senate Banking Committee addressing most if not all of the problems that caused the bursting of the housing bubble, which were blocked by both Dodd and Frank who were deep in the pockets of the banking industry, and their K street schwag merchants.

Regardless if the new financial reform is just window dressing to distract attention from the real cause of the housing crisis, it is refreshing to see that both parties appear to working in concert to ostensibly improve oversight. The final bill will be the answer to the new found bi-partisan love fest, but given the blood letting over health care the bills effectiveness is highly doubtful.

ROBERT STACY MCCAIN  Second Thoughts for Jane Hamsher?
DANCING CZARS  Beyond the Constitution:  The Health Care Bill Violates the Rule of Law
FLOPPING ACES  ObamaCare: Ray Stevens Shares his Thoughts
GATEWAY PUNDIT  20 Memorable Quotes From Senate Democrooks on Obamacare
ED MORRISSEY  WH putting health-care off until…February?
ALLAHPUNDIT  Oh my: McCain working on getting another Democrat to switch?
IMAO  This is why we should never sign treaties
JAMMIE WEARING FOOL  Heartbreak: Splitsville for Grating Hollywood Pinheads
LE-GAL IN-SUR-REC-TION   Uh Oh, Cats and Dogs Getting Along
MICHELLE MALKIN   Beltway Christmas: Cash for corruptocrats
NICE DEB   My Favorite Christmas Carol Sung By A 7 year old
POLIPUNDIT   Quote of the day
POLITICAL BYLINE   Quote of the day
SAY ANYTHING BLOG   Alleged “Deficit Hawk” says Christmas eve vote to raise national debt limit is “essential”
SISTER TOLDJAH  Christmas Eve Open Thread
STOP THE ACLU   Cuz Animals Are People Too, ya Know
THE VOLOKH CONSPIRACY  The myth of an expert consensus on the constitutionality of an individual mandate
THE WESTERN EXPERIENCE   Alabama Congressman, Parker Griffith, switches to GOP
VOTINGFEMALESPEAKS!  Rep Griffith flips Obama and Pelosi “the bird”; will announce his switch from DEM to Republican today
ANOTHER BLACK CONSERVATIVE   Obama pushing health care off until February?
DIARY OF A MAD CONSERVATIVE  MSNBC’s Matthews:  Republicans have become party of the confederacy
FRUGAL CAFE BLOG ZONE   ClimateGate’s signs of the times
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Nan, in her ever present cheery Botox induced craze stated “Obama must make his case on Afghanistan”, jeeze thanks Nan.

To further confuse the issue, with the paper still wet from Obama’s signature, the lefts old pal Denny K. is rumored to be developing the following; “Pelosi said she expects Rep. Dennis Kucinich, D-Ohio, to introduce a resolution calling for an immediate withdrawal of troops from Afghanistan and Iraq. That will probably be the first vote the House takes on this issue”.

Blind worship be dammed, the rats need a job in 2010 and 2012, and with Obama’s poll numbers free falling to historic levels for the first year President, the exodus for the ropes will be like the doors opening at Fileans after Christmas sale!

Politicians are famous for saying one thing and doing another, but Professor Obama has taken that to new heights. The once promising presidency is now mired in a litany of struggles from both within and outside of his party.

Cheese anyone?

USA TODAY THE OVAL  Obama on his own in Afghanistan
VICTOR VOLSKY  On the brink
ED MORRISSEY  Pelosi: Obama is on his own with Afghanistan funding
NICE DEB  All you have to know about Copenhagen
VOTINGFEMALESPEAKS!  Will the Socialists burn crosses on Col Allan West’s front lawn?
MOIST BIT’S   Git-cago Here We Come, Terrorist and YOUR TAX dollars
ON MY WATCH   More US Debt? World Gove on the Way?
LISA IN TEXAS   National Defense compromised by Chicago Mobsters?
DIARY OF A MAD CONSERVATIVE   Who’s going under the bus for this one?
CONSERVATIVE BLOG NETWORK
FIRE ANDREA MITCHELL   Pelosi says rallying votes for troop surge in Afghanistan will be Obama’s Job
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Below lies a list of the existing watchdog agencies tasked with “policing” both the bank and stock market industries.  All of which were in place prior too and during the so called financial meltdown.

Securities & Exchange Commission (SEC)
Commodity Futures Trading Commission (CFTC)
Federal Reserve System
Federal Deposit Insurance Corporation (FDIC)
Financial Industry Regulatory Authority (FINRA)
Office of the Comptroller of the Currency (OCC)
National Credit Union Administration (NCUA)
Office of Thrift Supervision (OTS)

But even though the listed regulators were empowered to quell any type of aberrant behavior, they all appeared to have been sleeping at the switch, or more likely, steered away from pulling the plug on the housing industry which historically accounted for the lions share of the United States economy since 1996.

With the bursting of the housing bubble, a scapegoat was required, enter Barney Frank and Chris Dodd, both of whom share equal blame for the collapse of the housing industry, with their constant K street induced interference.  Rather than do the honorable thing and tell the truth accepting responsibility, both Frank and Dodd started pointing fingers very early on projecting the blame on the evil bankers and Wall street, totally dismissing their own personal culpability.

In typical Washington form, create a problem, blame it on anyone but yourself, then get appointed to the committee to fix the very issue you created.  Not unlike gun control, there are more than enough laws on the books to avoid any future housing meltdown, but they become ineffective when politicians and lobbyist are involved.

Keep in mind that the meltdown in housing began in the Clinton administration, their goal was to open up the housing markets to under-served individuals and fill the void where the Federal Housing Authority/FHA was not taking up the slack. In doing so, along with the creation of risk based pricing structured on credit score tiers, a borrower could buy a home with a score as low as 500. Subprime thrived due to the fact everyone in the world was buying the collateral, each institution was aware of the risk in buying such low quality paper, so were the auditors of the above listed government agencies, if you wish to blame anyone, blame greed, that is the American way.

Now the solution to all the housing ills is to bring all the governing regulators under one roof and appoint the power to one person, very bad idea. Government is not capable of managing any entity of free enterprise, and that is what the housing market is,  government layered on the regulations in the 80’s, so much so that FHA lending became ineffective due to an overabundance of  red tape.

If this bill were to pass, which is not a certainty it will be heartily challenged in the Senate.  History is clear in that further intrusion of  government into the free market system has never succeeded, not once.  Government regulators need to be free of politics to maintain any level of efficiency, the past has shown that even if the regulations are in play, there are too many cooks in the kitchen spoiling the soup.

By creating a bigger watchdog, it just means you need to feed it more, and by all past experience the dog will probably be sleeping on the porch when it’s time to hunt.

PAUL B. MATTHEWS  Federal Employees at the Trough
BREITBART   Time magazine names Bernanke “Person of the Year”
DANCING CZARS   Amid rumblings discontent, Democrats head for the exits on Health Care Bill
ALLAHPUNDIT  Obama: Support my giant boondoggle or America will go bankrupt
IMAO   How much do Democrats suck?
NEWSREAL   Ron Paul Blasts “Man of the Year” Bernanke
NICE DEB   ObamaCare on the Precipice
STAND UP FOR AMERICA  Tuesday Open Mic
WEASEL ZIPPERS   Michael Moore Threatens to Boycott Every All-You-Can-Eat buffet in Connecticut unless they recall Lieberman
ON MY WATCH  Copenhagen to Connecticut: Holiday Smear-Mischianza for 12/16/09
VOTINGFEMALESPEAKS!   Lieberman-One against many
CONSERVATIVE BLOG NETWORK
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