Activecitizen54's Blog

Sunday Funnies

Posted in 1 by activecitizen54 on October 4, 2009

Bill Maher proposed this to be our new National symbol.  Hummm  makes you wonder when you look around on TV, News or Internet.

Max Baucus in response to Washington Post questioning on the risk of Insurance Industry “cherry-picking” consumers for health insurance:  “These regulations are the first step to a market where consumer can be confident in the coverage they purchase.”

I’m so happy that Mr. Baucus maintains a sense of humor concerning his employers (Health Insurance Lobby not his Constituents).  These greedy thieves in the Insurance Industry have raped the population for 100 years and Max just keeps it going.

The litany of testimony before the Congress demonstrated that Insurance Companies have “cherry picked” their way to wealth to equal the national debt and Max Baucus has delivered 47 million new customers paid for from the US Treasury.  We’re Screwed.

Sarah Palin response: She also reiterated her claim that so-called death panels would make end-of-life decisions, a notion that has been widely discredited.

The Economy is showing a reported 9.8% Unemployment. That’s not only the real joke of Bush/Obama Bail-Out but it’s a great segue into the Cheering from the Right over America’s loss of the Olympics.  Nice to see the Republican Right in the role they always play as cheering for American loss.  Their concern for the economy is the same as the Greedy Wall Street, Banking and Corporations who were bail out funded to subsidize the politicians they’ve purchased.  Great Scam from Capitol Hill.

Uncle Ronnie at least teased us with “Trickle Down” but you Capitol Hill thieves just paid-off Wall Street and Banking greed, getting your cut in the deal too.

It’s America that pays.

Is this the America you Right-wingers were rooting for because Obama’s help didn’t clinch the Olympics?

Sarah Palin response:  “No rain; no rainbow.”

The Feds on Banking:

The Coming Bank Bust

Namoi Prins from The Daily Beast

There are several members of Congress skeptical about the notion of leaving the keys to the kingdom with the king who didn’t protect it, notably Ron Paul (R-TX) and Alan Grayson (D-FL), leading the march to adopt HR1207, a bill to audit the Fed. Yet, the Obama administration has backed the Fed for chief big-bank watchdog from the get-go.

What they and Bernanke are really saying is, let’s watch over the really big Lego towers and hope they don’t fall. What they should be saying is—cue 5 year old—let’s divide up the tower into mini-towers, which will reduce the possibility of a fall. Meanwhile, the trillions of dollars in bailout support that the big banks have received this year confirms the notion that whoever is watching, they will be protected from failure—with public money and lots of Fed backing.

Paul Volcker, former Fed chairman and one of President Obama’s chief economic advisers, gets the problem with this. A week earlier, he pointed out that this “safety net” approach should, in the future, be restricted to commercial banks—leaving the investment banks, or the speculative divisions within mega-banks, or the AIG derivatives departments of the world on their own. Because as any kid knows, if you reward the bully with extra snacks for disrupting the playground at recess, it’s pretty unlikely he’s going to stop being disruptive. He’ll just get fatter and become more of a bully. Instead, he should be restricted, or even kicked out of the playground for bad behavior.

In the banking arena, removing the safety net for more speculative firms requires breaking up the banks into commercial banks (that deal with consumers’ deposits, savings accounts, and loans), investment banks (that can trade whatever they want—just without public backup when they screw up), and insurance companies (who should stick to their day job of providing insurance, not using insurance policies as capital for credit derivatives trades.)

Round 2 is on the way.;page=9;item=

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