This gem comes from the Wall Street Journal, dated July 1. These two buffoons need to go. Now. RIGHT NOW.

By JOHN B. TAYLOR

The sheer complexity of the 2,319-page Dodd-Frank financial reform bill is certainly a threat to future economic growth. But if you sift through the many sections and subsections, you find much more than complexity to worry about.

The main problem with the bill is that it is based on a misdiagnosis of the causes of the financial crisis, which is not surprising since the bill was rolled out before the congressionally mandated Financial Crisis Inquiry Commission finished its diagnosis.

The biggest misdiagnosis is the presumption that the government did not have enough power to avoid the crisis. But the Federal Reserve had the power to avoid the monetary excesses that accelerated the housing boom that went bust in 2007. The New York Fed had the power to stop Citigroup's questionable lending and trading decisions and, with hundreds of regulators on the premises of such large banks, should have had the information to do so. The Securities and Exchange Commission (SEC) could have insisted on reasonable liquidity rules to prevent investment banks from relying so much on short-term borrowing through repurchase agreements to fund long-term investments. And the Treasury working with the Fed had the power to intervene with troubled financial firms, and in fact used this power in a highly discretionary way to create an on-again off-again bailout policy that spooked the markets and led to the panic in the fall of 2008.

 

Read more here!

October 14, 2008

By Rick Moran
Imagine: It is the very early morning of November 5, 2008. Despite all the predictions and polls, John McCain and Barack Obama are locked in an extremely close race for President of the United States. McCain made a furious comeback over the previous 3 weeks following the last debate where Obama fumbled several answers while looking tired.

McCain's momentum propelled him back into the race and in a furious last minute charge that involved spending more than $25 million in combined campaign and Republican National Committee ad money that last weekend surged to within just a few points of Obama by Election Day.

Now, at 6:00 AM the following day, the race hangs on the results in just one state; Ohio.

McCain leads by nearly 50,000 votes but suddenly, Ohio's Democratic Secretary of State Jennifer Brunner announces that several thousand McCain absentee ballots have been disqualified while additional thousands of votes in Cuyahoga County were "discovered" to have not been counted. After several more hours of confusion -- which included the discovery of more uncounted votes in heavily Democratic counties by the Secretary of State -- McCain's lead is gone and Obama is declared the winner of Ohio and the election.

Just finished watching the debate. Don't think it matters who "won" and who "lost". Thought Mr. McCain did better than the previous debate. But the BHO train is moving too fast for the old warrior.  And, as much as it galls me to say it, as Diane likes to phrase it, this party is over.

I just can't believe that there are so many Americans out there that buy into BHO's tripe. Yes, he's eloquent in his speech. But he's shown this American absolutely nothing. Zip. Zippo, Zilch. What has he done for AMERICA? Zippo, Zilch.