The President’s Weekly Address (2/14/09)



Filed under Barack Obama, The President's Weekly Address

57 responses to “The President’s Weekly Address (2/14/09)

  1. Public still sky-high on Obama ‘brand’

    Obama’s approval rating remains well above 60% in tracking polls. A range of state pollsters said they’d seen no diminution in the president’s sky-high approval ratings, and no improvement in congressional Republicans’ dismal numbers.

    And that’s before the stimulus creates billions of dollars in spending on popular programs, which could, at least temporarily, further boot Obama’s popularity.

  2. horsedooty

    Good, I am glad I am still with the crowd as I am still sky-high on Obama.

  3. Majority of Americans Support Direct Diplomacy With Iran

    WASHINGTON, D.C. — Americans appear to support the Obama administration’s push for “face-to-face” dialogue with Iran: 56% say the United States should engage in direct diplomacy with Iran, while 38% say it should not.

  4. dnd

    Happy Valentine’s Day everyone.

    Big doin’s at Loveland Ski Area:

  5. dnd

    If you didn’t get your Valentine’s Day card postmarked at Loveland, there’s always next year…

  6. d I never realized you’re such a romantic!

  7. dnd

    Neither did my former girlfriends 😉

  8. Lieberman Stepped Up Role As Talks Ebbed

    The successful passage of the stimulus began with Obama’s decision to pardon Lieberman for the sin of campaigning for Sen. John McCain (R-Ariz.) during the presidential election.

    Lieberman initially stayed at the edge of negotiations, but as they dragged on, he inserted himself more forcefully, leveraging the close relationships he has with Republicans – after all, they asked him to join them – to peel away a few crucial votes.

  9. “Majority of Americans Support Direct Diplomacy With Iran”

    This will be another disaster IMHO 🙂

    The ruling Mullahs of the Islamic Republic of Iran are serious when they call us the Great Satan.

    They are committed to their ideology of a global imposition of Sharia law, and the elimination of all other forms of Government which they view us as the main defender of.

  10. dnd

    Then why did they help us when we invaded Afghanistan?

    The Mullahs as not so much concerned with ideology as they are with staying in power. Iran’s economy has long been in the dumpster. It’s only gotten worse with the precipitous fall in oil prices. The median age in Iran is 26.4, and those kids like all things Western. They love America. This one’s a no-brainer.

    That said, Hillary’s first priority should probably getting Syria to play nice with Israel. That’s a doable first step.

  11. dog's eye view

    WaPost: nonromantic Valentine’s Day story; and good for them for writing about this one: sweet and sad story about a twin’s love for his absent brother.

  12. Hi dnd

    >Then why did they help us when we invaded Afghanistan?

    Because the Taliban was on of their enemies and also Iran is very pragamatic..

    I think both of our statements about Iran’s ideology are true. I believe that Iran has a long-term vision for its revolution but they are also realistic and willing to explore possibilities in the short-to-mid-term to gain advantages for themselves even if it does appear to be counter to their over-all hostile intent. I think their assistant to the Sunni Al Qaeda and the Sunni HAMAS (both are organs of the Ikwan) are a sign of their willing to bend on ideology in the short term to achieve their ideological long-term goals.

    For example:

    Majlis Member Reza Yousefian said, “Iran must change its tactics for safeguarding its national interests in view of regional conditions.” He added: “The presence of America in the region and the denunciation of the strikes on Afghanistan do not and should not hinder our plans concerning our common [Iran and US] stances. We may have deep differences of opinion… but we can also sit at the negotiating table… and reach a common standpoint. Of course, this does not mean we have official relations with that country.” He clarified, “We can raise our demands within the framework of the Six-Plus-Two Group, and the Geneva Initiative. The important point is to gain the upper hand in all talks. Then the US will be compelled to accept our conditions…. This is a unique opportunity that may not recur.” – Iran Daily, October 22, 2001.


    Majlis Member Ali Shakuri-Rad said that the Foreign Ministry should “utilize the opportunity and conduct a dialogue with Washington, as this will benefit not only mutual interests of the two countries but will also pave the way to release frozen Iranian assets in the US.” The members also accused the Foreign Ministry of negative diplomacy that would distance Iran from the decision-making on Afghanistan’s political future. Gholomhossein Barzegar, a member of the Majlis Commission on National Security and Foreign Affairs, said, “We would have got concession from the US, but we didn’t. Iranian assets have been frozen in the US, but no one talks about that because we have no relations with the US,” and added, “We should think about our [narrow] national interests if we don’t want to lag behind in international development” – IRNA, October 20, 2001; Hayat E-No, October 21, 2001. The reformist Iran Daily also ran an editorial entitled “Back to the National Interest” (October 25, 2001).

    Iran has no qualms using naive Western diplomats as cover in order to do whatever it is they want to do.

    Here is their nuclear negotiator on Iranian TV:

    “Thanks to our dealings with Europe, even when we got a 50-day ultimatum, we managed to continue the work for two years. This way we completed (the UCF) in Esfahan. This way we carried out the work to complete Natanz, and on top of that, we even gained benefits. For 10 years, America prevented Iran from joining the WTO. This obstacle was removed, and Iran began talks in order to join the WTO. In the past, the world did not accept Iran as a member of the group of countries with a nuclear fuel cycle. In these two years, and thanks to the Paris Agreement, we entered the international game of the nuclear fuel cycle, and Iran was recognized as one of the countries with a nuclear fuel cycle. An Iranian delegate even participated in the relevant talks. We gained other benefits during these two years as well.”


    “There is a belief that if we adopted the North Korean model, we could have stood much stronger against the excessive demands of America and Europe.


    Musavian: “During these two years of negotiations, we managed to make far greater progress than North Korea. North Korea’s most important achievement had to do with security guarantees. We achieved the same thing a year ago in the negotiations with the Europeans. They agreed to give us international guarantees for Iran’s security, its national rule, its independence, [and] non-intervention in its internal affairs, [as well as] its national security, and for not invading it.”

    You could see the whole interview here (you have to register for free)

    If you watch that, you’ll see that any diplomacy with Iran is really done in the interest of Iran ,who simply use the bought time to further their agenda.

    These folks run circles around the West. The West needs to toughen up and stop being so stupid.

  13. US Missile Strike Kills 27 In Pakistan

    ISLAMABAD — Dozens of followers of Pakistan’s top Taliban commander were in a compound when a suspected U.S. missile attack hit Saturday, killing 27 militants in an al-Qaida stronghold near the Afghan border, officials said.

  14. Hardened Obama plans new fights

    For Obama’s next act, the program is the same as he has been planning for months: New Deal-style plans to rescue struggling homeowners and rewrite regulations on the financial markets, plus a budget proposal that lays the groundwork for sweeping health care reform.

    But the strategy to promote these items is getting an emergency overhaul. Obama plans to travel more and campaign more in an effort to pressure lawmakers with public support, rather than worrying about whether he can win over Republican votes in Congress. Officials suggested that the new, more partisan tone Obama embraced last week in his speech before House Democrats at their retreat and continued at his news conference Monday was what he should have been doing all along.

    And we thought the primaries and election were fun!

  15. I hope they do stop worrying about getting cover by having the GOP join in with thier plans.

    THe only reason there was this talk about bipartisanship was because that was the phony mantra of the Candidate Obama. I didn’t believe it for a second. A Saul Alinsky disciple being bipartisan is an oxymoron.

    Candidate Obama talked about Bipartisanship for the purpose of lying the groundwork for a bigger triangulation move than anything Clinton or Bush ever tried.

    I think it blew up in his face. Bad coordination between the House and the White House.. it was too obvious what the game was… Obama would look like Mr. Magnanimous and Mr. Cooperation and Mr. Consensus… meanwhile , where it mattters.. in the Speaker’s office she was drafting her bill her own way and nothing the GOP said would influence it.

    Obama was putting on the show for the cameras and Pelosi was making the poison stew.

    Obama almost pulled it off too but he said two words that perhaps you could not find any others to cause more damage.. “I won”

  16. George W. Bush is Fundraising Personally for His Library

    Don’t say that former President Bush hasn’t been hit by the crumbling economy he handed off to President Obama. Friends tell us that it has slowed the drive to raise some $500 million to build and endow the George W. Bush Presidential Center at Dallas’s Southern Methodist University. “It’s a bad environment,” says one. Bush is taking no chances: He’s making donor calls himself, and even his dad, the 41st president, is helping out, as are former aides like Karl Rove. In the future, say associates, look for Bush to host fundraising events in order to meet a goal of completing construction in 2013. But for now, “he’s laying low,” says one.

  17. “Obama almost pulled it off too but he said two words that perhaps you could not find any others to cause more damage.. “I won” ” – Vince

    If the repugs are going to act like little babies and get all pissy because Obama said, “I won”, the country will see right through that….and see it for what it is, nothing more then a waste of our time. The repugs need to learn about how to sell their ideas, (okay offer and find some ideas) without fear and with some logic. After all, that is what they are being paid to do, it’s called their job.

    If they had the 100% perfect answer, then they stunk at getting their ideas to the various economists and to the public….Every show I have seen is just them (R) playing the big old fear card and insulting the President.

    America is sick of that tactic.


  18. Do they know where they’re getting the money from for the Impoverishment bill?

    China is not too happy

    I think it’s so reckless how we’re selling this country to foreign powers. Especially to ones who say this:

    “We (China) hate you (United States)”

    The Finincial Times is reporting this, but the bulk of the story is behind their registration firewall. I spent a bunch of time looking for 3rd parties who had the fullest story on this and I found one here:

    Luo Ping and Weimar America
    Friday February 13, 2009

    A leading Chinese banking official says, basically, that his government has no confidence in US economic decision-making, but has no choice other than to pretend that it does. Excerpt:

    Luo Ping, a director-general at the China Banking Regulatory Commission, said after a speech in New York yesterday that China would continue to buy Treasuries in spite of its misgivings about US finances.
    “Except for US Treasuries, what can you hold?” he asked. “Gold? You don’t hold Japanese government bonds or UK bonds. US Treasuries are the safe haven. For everyone, including China, it is the only option.”

    Mr Luo, whose English tends towards the colloquial, added: “We hate you guys. Once you start issuing $1 trillion-$2 trillion [$1,000bn-$2,000bn] . . .we know the dollar is going to depreciate, so we hate you guys but there is nothing much we can do.”

    Hey, Mr. Luo, I hate us guys too! As Kunstler says:

    The political theater of the moment in Washington is not focused on any of this, but on the illusion that we can find new ways of keeping the old ways going. Many observers have noted lately how passive the American public is in the face of their dreadful accelerating losses. It’s a tragic mistake to tell them that they can have it all back again. We’ll see a striking illustration of “phase change” as the public mood goes from cow-like incomprehension to grizzly bear-like rage. Not only will they discover the impossibility of getting back to where they were, but they will see the panicked actions of Washington drive what remains of our capital resources down a rat hole.

    I bet Luo Ping and his folks back home are staying up late at night trying to figure out how in the hell they can get out from under us and our flabulously craptacular ways. And when they hit on it, look out.

    For Mr. Luo’s reading on the flight back home, here’s an interesting short history of how hyperinflation, which we may well be headed to in the coming years, can destroy the morale (and morality) of a nation, and serve as the precursor for political catastrophe. Excerpt:

    Obviously, though the currency was worthless, Germany was still a rich country — with mines, farms, factories, forests. The backing for the Rentenmark was mortgages on the land and bonds on the factories, but that backing was a fiction; the factories and land couldn’t be turned into cash or used abroad. Nine zeros were struck from the currency; that is, one Rentenmark was equal to one billion old Marks. The Germans wanted desperately to believe in the Rentenmark, and so they did. “I remember,” said one Frau Barten of East Prussia, “the feeling of having just one Rentenmark to spend. I bought a small tin bread bin. Just to buy something that had a price tag for one Mark was so exciting.”
    All money is a matter of belief. Credit derives from Latin, credere, “to believe.” Belief was there, the factories functioned, the farmers delivered their produce. The Central Bank kept the belief alive when it would not let even the government borrow further.

    But although the country functioned again, the savings were never restored, nor were the values of hard work and decency that had accompanied the savings. There was a different temper in the country, a temper that Hitler would later exploit with diabolical talent. Thomas Mann wrote: “The market woman who without batting an eyelash demanded 100 million for an egg lost the capacity for surprise. And nothing that has happened since has been insane or cruel enough to surprise her.”

    With the currency went many of the lifetime plans of average citizens. It was the custom for the bride to bring some money to a marriage; many marriages were called off. Widows dependent on insurance found themselves destitute. People who had worked a lifetime found that their pensions would not buy one cup of coffee.

    Pearl Buck, the American writer who became famous for her novels of China, was in Germany in 1923. She wrote later: “The cities were still there, the houses not yet bombed and in ruins, but the victims were millions of people. They had lost their fortunes, their savings; they were dazed and inflation-shocked and did not understand how it had happened to them and who the foe was who had defeated them. Yet they had lost their self-assurance, their feeling that they themselves could be the masters of their own lives if only they worked hard enough; and lost, too, were the old values of morals, of ethics, of decency.”

    The fledgling Nazi party, whose attempted coup had failed in 1923, won 32 seats legally in the next election. The right-wing Nationalist party won 106 seats, having promised 100 percent compensation to the victims of inflation and vengeance on the conspirators who had brought it.

  19. burrito: the thing I just above .. that is the real story. That is what the Democrat will not talk about.

    You can focus on the D vs R game if that’s what gets you most fired up… but I believe *THAT* is what most people are sick of.

    Everyone I know has absolutely no confidence in anything going on now. And I know the impulse is going to be to make the 9 billionth reference to the past 8 years but to me and others it’s pointless . We’re not living in the past.. we’re living today and we know what went wrong.. over-spending. too much debt.

    What is the govt doing now? over-over-over-over-spending and plunging into a black hole of debt.

    Because I haven’t forgotten who Obama is, I expect the govt to do more of this .. create more instability… keep people anxious and agitated and eventually begging for his deceptively sweet medicine of collectivism.

    No responsible government would have ever passed the bill they just did. Not when you consider they’re expecting to spend TWO TRILLION more this year.

    I’m with Glenn Beck.. the only D and R that matter here are Depression and Revolution.

  20. “I’m with Glenn Beck”

    Wow, color me surprised!

  21. GOP dead set against 59th Dem

    Republicans are more determined than ever to keep Franken out of the Senate.
    Photo: AP

    Having just seen what President Barack Obama can do with 58 Democrats in the Senate, Republicans are more determined than ever to keep him from getting a 59th.

    Especially if the 59th is Al Franken.

  22. Nationalize the Banks! We’re all Swedes Now

    The U.S. banking system is close to being insolvent, and unless we want to become like Japan in the 1990s — or the United States in the 1930s — the only way to save it is to nationalize it.

  23. dnd

    My point was that with Iran’s youthful population distribution coupled with a long standing lousy economy, this is the best time in the last 30 years to open diplomatic relations. The younger generation will be assuming power soon. Persians are a proud people. Show them some respect and they invite you into the tent. Threaten them and they react like, well, we would.

    BTW, don’t buy the stuff from MEMRI TV. They are hugely biased. If you want a good unbiased perspective on the Middle East, read Juan Cole’s blog:

  24. dnd

    Obama to sign the stimulus bill at the Denver Museum of Nature & Science.

    I hope he brings the girls. That museum is way cool.

  25. dnd: I talk to many people in Iran and out. The people of Iran I have no issue with.

    The ones I talk to hate their regime (of course the ones who love it, I dont talk to )

    They dont want their govt to be negotiated with. they dont want it normalized. They want pressure kept on it.

    They certainly do not want any US military action. They all say that would be a huge mistake… firing up the nationalism of Iranians.. (competely normal reaction)

    But they dont want the Mullahs to be legitimized.

    Anyway… if you read the transcript of the nuclear negotiator how could anyone recommend talking with them ? They admit to be completely we .the West, have been talking to them all decade. They want their nukes. They have an eschaton to achieve.

    Not only that there a number of Islamic principles, that they adhere to, that make us the losing side of this proposition.

    1 – Hudna. In sharia law, the Islamic state cannot make permanent peace treaties with Non-Muslim enemies. What is permissible is a truce, maximum duration of 10 years. The real motivation of this truce is to have the enemy lower thier guard bercause of a false assurance o people, meanwhile the Islamic-side rearms/regroups and then shall break the treaty as soon as possible when they think they can win the next battle.

    2 – Emnity The Islamic State views all non-sharia law governemtns to be an affont against Allah. The doctrine of Tawid (sp?) or Oneness states that Allah is One, and his Koran is One and his law is One and Government as dictated in the Sunnah is One. All other ways of life is shirk, a sort of blasphemy.

    3 – Mahdi. The Twelvers in control of Iran believe if they start a nuclear war, then Allah will send the hiddden 12th Imam al Mahdi as promised. The Mahdi will lead the Islamic State on a global conquest, vanquishing all other religions and States.

    They believe the time of his coming is imminent and that the role of the Iranian Revolution is to bring about his coming. They’ll use nuclear weapons to cause the required global chaos and devastation that is required to be the condition on earth before he comes.

    These are some quotes I saved during the course of my years-long on-going research into Islam:

    Commandant of Iran’s elite Islamic Revolutionary Guards Corps, Major General Yahya Rahim Safavi, said on state television. “God willing, the 21st century will see the defeat of the U.S. and the Zionists, and the victory of freedom-seeking nations of the world. The final goal of the [1979] revolution is to create global Islamic rule and a regime of law to be led by the Imam Mahdi”.

    The [Iranians] President’s chief strategist, Hassan Abbassi, has come up with a war plan based on the premise that “Britain is the mother of all evils” – the evils being America, Australia, New Zealand, Israel, the Gulf states and even Canada, all of whom are the malign progeny of the British Empire. “We have a strategy drawn up for the destruction of Anglo-Saxon civilization,” says Mr Abbassi. “There are 29 sensitive sites in the U.S. and in the West. We have already spied on these sites and we know how we are going to attack them… Once we have defeated the Anglo-Saxons the rest will run for cover.”

    Yes they’re completely insane. It’s nutty stuff.. but they believe it.

    Have you ever listened to or read Ach’jad’s UN speeches since he became President? They are getting more and more Messianic as the years go by.

    Everything the Iranian Govt is doing is being done in a manner that conforms with Islamic rules regarding warfare.

    In Islam, the State cannot just attack non-muslims. They must first offer Islam to the Non-Muslims (dawa) and invite them into the religion.

    If they the non-muslims accepts and converts then there to be no war.

    If the Non-Muslims refuse, then they could be attacked.

    President of Iran sent the US its dawa about three years ago.

  26. Juan Cole is himself politically biased. MEMRI is just translating Farsi into English. The transcript of the Iran Nuclear Negotiator is from his own lips.. not an analysis by a compromised professor in a politically dominated and biased field of study..

    Saudi Arabian money has long since corrupted Middle East studies in American universities, since the 1970s. (Read the book “War of Ideas” by Walid Phares).

    The purpose of this corruption is to keep Americans ignorant about radical Islam and Jihad.. and to divert time and energy from examination of jihad to things like Israeli-Palestinian conflict. and to frame everything in a Post-Colonial Context as opposed to a JIhadist framework.

  27. Going back to the wonderful banking/government sector:

    Check out these two graphs (Links to Federal Reserve website in St Louis)

    Money borrowed by Banks from the Federal Reserver

    Beginning of time – end of 2007


    Am I allowed to use fowl language. I want to use the F word.

  28. dnd

    I’m beginning to understand why you’re on the SSSS list 😉

  29. dnd

    “Am I allowed to use fowl language. I want to use the F word.”

    Fowl language? Finch? Falcon?

    Sure, go ahead 😉

  30. dog's eye view

    F word:

    Frank Rich today in NY Times.

    “…I asked David Axelrod for his take on this Groundhog Day relationship between Obama and the political culture.

    “It’s why our campaign was not based in Washington but in Chicago,” he said. “We were somewhat insulated from the echo chamber. In the summer of ’07, the conventional wisdom was that Obama was a shooting star; his campaign was irretrievably lost; it was a ludicrous strategy to focus on Iowa; and we were falling further and further behind in the national polls.” But even after the Iowa victory, this same syndrome kept repeating itself. When Obama came out against the gas-tax holiday supported by both McCain and Clinton last spring, Axelrod recalled, “everyone in D.C. thought we were committing suicide.”

    The stimulus battle was more of the same. “This town talks to itself and whips itself into a frenzy with its own theories that are completely at odds with what the rest of America is thinking,” he says. Once the frenzy got going, it didn’t matter that most polls showed support for Obama and his economic package: “If you watched cable TV, you’d see our support was plummeting, we were in trouble. It was almost like living in a parallel universe.”

    For Axelrod, the moral is “not just that Washington is too insular but that the American people are a lot smarter than people in Washington think.”

    Frank Rich: They Sure Showed That Obama

  31. dog's eye view

    Well, the John Edwards 2008 campaign worked out well for some people.

  32. dog's eye view

    Burrito: for you re the turboprops your daughter flies (from a cold climate, to a cold climate), and for all of us:

    Two major US carriers (American Eagle and Comair) stopped flying turboprops in cold weather several years ago. The NTSB has ruled icing a factor in several turboprop fatal accidents; the FAA has been dragging its rulemaking process out for over a decade on a known hazard.

    Turboprops’ occasional unsuitability in extreme icing conditions was hinted at in the Miles O’Brian blogpost posted here a day or two ago. He concluded that the 1994 Roselawn, Indiana Comair crash was unpreventable once the aircraft encountered the supercold water mist aloft. The de-icing equipment worked as designed (per O’Brian, the plane had pneumatic anti-icing boots that were deployed); the plane still fell. Conditions were “outside the envelope” for that turboprop.

    Incidentally, anti-icing boots are a technology dating from the 1930s. Regional jets use systems that heat the wing to prevent ice buildup, rather than break it off once formed.

    To this day, the FAA has not formally acted on its lessons from Roselawn. Money talks; it’s cheaper to use turboprops in regional markets; the FAA never mandated better ice avoidance techniques. Still in rulemaking process.

    Maybe now that they’ve had yet another catastrophic loss of a plane and all passengers (plus a victim in the house)…

    Good article from the Buffalo News. American shifted its turboprops to its Caribbean routes several years ago. It learned. As did Comair:

    ” … that airline abandoned turboprops entirely after a Jan. 9, 1997, flight from Cincinnati to Detroit nose-dived 18 miles short of the runway, killing all 29 people aboard.

    … After the Comair crash, the safety board issued a devastating report that echoed [former NTSB Chief Jim] Hall’s comments holding the FAA responsible for the Clarence crash.

    “The probable cause of this accident was the Federal Aviation Administration’s failure to establish adequate aircraft certification standards for flight in icing conditions,” said the report, which also blamed the FAA for failing to enforce proper deicing procedures and failing to require the establishment of adequate minimum airspeeds in icy weather.”

    “Two carriers stopped flights of prop planes in cold weather”

    I wonder how Canada handles its turboprops.

  33. “When Obama came out against the gas-tax holiday supported by both McCain and Clinton last spring, Axelrod recalled, “everyone in D.C. thought we were committing suicide”

    Ooooh I remember this one. It was one of this first blatant lies. His lie was a lie of omission. He was blathering on about how the Illinois gas tax holiday in the 90s was a failure.

    What he didn’t say was that he, in the IL Senate, was one of its main backers. And in fact he inquired if he could require signs be placed at gas stations in his district that said “This gas tax holiday brought to you by Obama”

  34. “I’m beginning to understand why you’re on the SSSS list ”

    Hehe.. I suspect it was my trip to Israel in 1998.. alone.


  35. “And in fact he inquired if he could require signs be placed at gas stations in his district that said “This gas tax holiday brought to you by Obama””

    Yeah right, put down the kool-aid bro!

  36. I only drink water.

    Page 80-81

    Presiding Officer: Further Discussion? Senator Obama.

    Obama: I wasn’t clear on — on the response to the question. but are — if the gas tax isn’t going anywhere , what happens to this?

    Presiding Officer: Senator Watson

    Watson: This is part of the gas tax language. This – this is part of the reduction of the sales tax on gasoline. So if the gas — if that passes, this is an amendment to it,and it would require that petroleum, marketers have to put a sign on their pumps that this did, in fact, happen

    Presiding Officer: Senator Obama:

    Obama: I was wondering, can I — in my district, can I have “Senator Obama reduced your gasoline prices?” Is that Possible?

  37. Now I remember why I called him a liar.. Not only did he omit his support for that illinois gas holiday

    He lied about supporting it:

    “Obama replied, “Well, actually there was a vote in the state senate that I opposed. I voted against a moratorium on the gas tax for the same reason that I don’t think it’s the best approach for us to take right now.””

    However, if you look at the Senate roll call vote , Obama clearly voted for the tax break.

    Here is the press release describing the bill Senate Bill 1310

    Here is the recorded vote for the bill in the IL Senate:

    He’s a liar.

  38. Graham: Nationalizing Banks Should Be On The Table

    In a gloomy segment about the financial sector on ABC’S This Week, two self-avowed fiscal conservatives said that the U.S. Government should at least consider nationalizing the country’s banking system as a means of moving beyond the current lending crisis.

  39. dnd

    “Graham: Nationalizing Banks Should Be On The Table”

    I was watching This Week with Graham and King on one side and Waters and Schumer on the other. Both sides had partisan arguments on the spending bill. But when it came to finance, and Graham and Waters were in agreement and Schumer and King were in agreement, I almost spit coffee all over my keyboard.

  40. The Boston Globe is doing a retrospective series on Teddy

    I guess they figure he’s not going to be around much longer

  41. What is involved with Nationalization.. anyone know the details?

  42. buying up the bad dept, getting a stake in the bank, probably a controlling interest. If the bank can be saved, once it’s on firm ground again the govt would more than likely sell out it’s holdings in the bank and hopefully recoup what it paid out if and maybe even a profit.

  43. What is the “thing” that govt ownership provides that keeps it alive that is missing?

    Is it the unlimited resources of the govt.. doing away with required capitalization requirements?

  44. In the long run it’s cheaper, usually a lot cheaper to have the feds buy out the toxic assets then it is to let the bank go under. Part of the problem of you free market types is you just see the failure of bank as an isolated happening, and are in total denial about the ripples through the “collective pond”.

  45. Obama Is Said to Replace Plan for ‘Car Czar’ With a Panel

    The Obama administration has dropped the idea of appointing a
    “car czar” to oversee the revamping of General Motors and
    Chrysler and will instead put the politically delicate task
    in the hands of a presidential panel, a senior administration
    official with knowledge of the plan said Sunday night.

    President Obama is designating the Treasury secretary,
    Timothy F. Geithner, and the chairman of the National
    Economic Council, Lawrence H. Summers, to oversee the group.

  46. Brian: Thank you (not) for thinking I’m stupid.

    I’m well aware of the house of cards. You didn’t see me expressing an opinion on this did you?

    Though I dont see this being permitted in the Constitution.. nor do I see TARP or this massive give away they just voted on.

    I lean towards this Govt shouldn’t have done anything about any of this. I fear there isn’t enough borrowed money in the world to cover for all the damage that has been done.

    What is interesting though is some of the properties that had the mortgage sliced up into tranches. The banks can’t prove to the courts that they have a lien on the deed , preventing foreclosure. the paperwork is all screwed up

  47. Who knows better how to run a car company… the car companies or tax cheats / sexist university presidents?

  48. horsedooty

    obviously the car company people SHOULD know but the guys at GM and Dodge ain’t too swift on the up take.

  49. Yes I know you think the govt. should do nothing, history says you’re wrong.

  50. Watching Republicans grieve

    Filmmaker Alexandra Pelosi journeyed into the heart of the GOP for her new HBO documentary. She discusses what she found there: Denial, depression and a whole lot of anger.

  51. horsedooty

    good article Brian.

  52. dnd

    I concur with Doots; good article Brian. I hope she puts her movie out on DVD.

  53. dog's eye view

    Brian: Thanks for alerting us to the Boston Globe series on Ted Kennedy.

    It was distressing he was not able to make it to DC for the stimulus vote, which was very close. (Having to wait on Sherrod Brown’s return from his mother’s wake…) Appears Sen. Kennedy’s health is precarious.

    But how nice for him to be appreciated during his lifetime. Am so glad he was able to live through the campaign and inauguration, and perhaps he still has another chapter ahead.

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