Talking Point – Guilt by Association

October 9th, 2008

Lately the McCain campaign has been attempting to hammer home the idea that American’s should question Barack Obama’s character and judgment based on a tenuous at best association with William Ayers a former member of the Weather Underground, an organization that performed a series of bombings in the late 60′s in violent protest to the Vietnam war. McCain and Palin want American’s wondering whether or not Obama has the same radical views as those of the unrepentant but reformed domestic terrorist.

So, this begs the question. In a nation where the Justice system is supposed to be based on the principle that your innocent until proven guilty, is it fair, in a presidential election, to try and pin the radical beliefs of one man on a candidate simply because they happen to live in the same neighborhood and both worked on some of the same education boards?


Read more

< |||| > 1 2 3 4 5 6 7 8 9 10

Archive for March 23, 2009

Legacy Assets

dowToday, Treasury Secretary Tim Geithner announced the government’s plan for dealing with all of the toxic legacy assets on the books at banks that have put it plug into the global credit stream. Finally, we start actually addressing the root cause of the issue. Frankly, in my opinion, this is what the government should have been doing from day one of the financial crisis, but it appears that the Bush administration and Hank Paulson, had no clue what to do. The plan put out by Geithner today is exactly what congress passed the TARP for before Pualson decided to just hand out the money to the banks.

So what is the plan? As stated by the article on MSNBC

The coordinated effort by the Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corp. relies on a mix of government and private money ? mostly from institutional investors such as hedge funds ? to help banks rid their balance sheets of real-estate related securities that are now extremely difficult to value.

The announcement triggered a rally on Wall Street that when the exchange ended by the end of the day had risen nearly 500 points. There is some trepidation over the plan, especially after the AIG bonus pitchfork Congress, but overall sentiment is that it’s a good plan.

After the break is some video from CNBC where Geithner talks about the plan.

Cross posted on The Pajama Pundit
Read the rest of this entry »

Categories