Jack & Jill Politics

rikyrah: Rep. Barney takes 'em 2 LAW SCHOOL!:

AIG Anticipated Major Losses And Rigged Bonuses: Frank

The contracts that AIG executives have cited as justification for bonus payments insured that they would receive the money regardless of massive losses.

Rep. Barney Frank (D-Mass.), who read from the contracts in question at a hearing of a subcommittee of the House Financial Services Committee Wednesday, suggested AIG executives structured the contracts in such a way in anticipation of dramatic losses.

Frank, chairman of the committee, also said that if AIG CEO Edward Liddy did not provide the names of the recipients of the bonuses, he would subpoena them. He suggested the federal government file suit to reclaim the bonuses, arguing that they are illegitimate since the company performed so poorly.

"I looked at the contract that's being invoked as unassailable," said Frank, "and here's what it says:

The bonus pool for any compensation year, beginning with the 2008 compensation year, will be effected by the incurrence of any realized losses arising from any source subject to the limitations set forth in section 3.07.

And section 3.07 says,

Notwithstanding any other provision of the plan for any compensation year beginning with 2008, there shall be a 67.5 million dollar limit per year on the extent to which the pool can be reduced.

Frank went on to read a passage that insured that even if AIG lost tens of billions of dollars, those responsible would still be rewarded. "What it says is," said Frank, "if the losses in the year exceed 225 million dollars, then that loss above 225 million is irrelevant to reducing the bonus pool. Two hundred and twenty-five million turned out to be a rounding error in their losses."

Annnnnd, there U R!! CONTRACT LAW 101! :>)

Here's your "DOCTOR OF 'THINKOLOGY!!'" :>)

- The Wizard reminds the "brainy" Scarecrow about the universality of brains and then presents him with a rolled up parchment/diploma:

Why, anybody can have a brain. That's a very mediocre commodity. Every pusillanimous creature that crawls on the Earth or slinks through slimy seas has a brain. Back where I come from, we have universities, seats of great learning, where men go to become great thinkers. And when they come out, they think deep thoughts and with no more brains than you have! But they have one thing you haven't got - a diploma. Therefore, by virtue of the authority vested in me by the Universitatus Committeatum E Pluribus Unum, I hereby confer upon you the honorary degree of Th. D...that's Doctor of Thinkology.

WHEW!! ***shakin' my head*** :>) :>)


Now The Day Is Over

G'night! :>) God Bless! :>)

Come visit my blog for LGBT and allies activism and commentary

http://www.queersunited.blogspot.com

Queers United is one of my favorite political blogs! Even though I'm straight I love to check out this blog to get the latest in GLBT news and culture. Welcome to JJP!

That made my day, thanks so much hope!!!

Curious what ya'll think about this article on FLOTUS Michelle and her mother Mrs. Robinson.

Regarding Michelle Obama - It Takes a Grandma - New York Magazine

It seems to me that folks really don't understand the relationship between lots of black women and their mothers. This one is based on "many modern women have prickly or distant relations with their mothers"

america is still trying to figure out the dynamics of the black family. you know they have no idea of how we are. if it wasnt on cops or some fake ass talking point they have no idea. its new to them. just wait until they have to try to figure out black womens hair and why michelle is never in water lol.

They never did understand about FLOTUS wanting Mama Robinson there. Of course she wanted Mama with her. I don't see the big deal...never did.

rikyrah: Major co-sign!! She needs her "Mama" as much as the children need theirs.

Annnnd, her "Mama" wants 2 support her daughter as FLOTUS!

Just the way that "IT IS!!" :>) :>)

MAJOR LOVE!! :>)

Me neither. To us that's just a natural thing.

yup. Was there ever a question in most black women's mind of whether or not Mama Robinson was going to be at the White House? I don't think there was.

But the thing that struck me funny was this premise that 'many modern women' have jacked up relationships with their moms. Did they mean to say 'modern white women' or did I miss something? I have many women friends of all cultures, all modern, none with jacked relations with their moms.

What's up with the premise?

http://www.washingtonpost.com/wp-dyn/content/ar...

The Fed Hid the details of the AIG debacle from the white house

rikyrah: As I stated B4, I had a loooonnnng and rather "rough" day 2-day.

Sooo, I'll try 2 do some "make-up." :>)

PLEASE 4-GIVE any DUPLICATES. Thank you. :>)

From: http://www.politico.com/politico44/
Wednesday was a long day for the White House. The President ended up in Los Angeles, following his feisty speech in Orange County. Will Obama's pushback against his and Sec. Geithner's critics change the conversation tomorrow? How will the latest revelations about Sen. Dodd and the Treasury's role in the AIG bailout pan out in the morning? Stay tuned... (9:56 p.m.)

+ Obama back on the stump

+ Obama scolds staff? -Notes Rohrabacher absence

In his opening remarks at Wednesday’s Orange County town hall meeting, Obama acknowledged Loretta Sanchez ...

... the Democratic California congresswoman who is attending the event. The crowd cheered.

Then he noted that the Fairgrounds where he’s holding his meeting is actually in Republican Rep. Dana Rohrabacher’s district. The crowd booed.

Obama talked over them to apologize that Rohrabacher wasn’t there and scolded his staff for not extending him an invitation soon enough for him to make it.

+ Kirk confirmed - Trade rep clears Senate

The Senate voted Wednesday afternoon to confirm former Dallas Mayor Ron Kirk as President Obama’s trade representative.

Senate Finance Committee Chairman Max Baucus (D-Mont.) released a statement praising Kirk after the 92-5 vote: “He is the right person to steer our trade agenda through these troubled times. He will work to rebuild America’s faith in the benefits of international trade, and he will help guide America to speedy economic recovery by opening markets to U.S. products. I look forward to working with Ambassador Kirk to accomplish these goals.”

+ President OBAMA: On the AIG - The buck Stops With Me VIDEO

+ PRESIDENT OBAMA: "I'll Take Responsibility; I'm The President! VIDEO

[NOTE: LEADERSHIP!! I'm tellin' U - - - LEADERSHIP!! :>) Thank you Mr. President!!]

+ Four More Years?

[NOTE: Had ta use the "OXYGEN MASK" when he was rollin' up his sleeves! WHEW!! :>) :>) DEEP BREATHS!!! :>)]

+ Pols on notice - VP issues stimulus warning

Biden had some fun at the stimulus implementation summit earlier Wednesday. The VP told local officials ...

... they'd better play it straight with federal cash: "I'll show up in your city and say this is a stupid idea. You think I'm kidding — this is the only part the president was right about - don't mess with Joe." :>) :>) :>0

VP BIDEN!! :>) :>) ***shakin' my head*** :>)

Hail to the Chief - Obama Remix [Sorry - - - the DRUMS have a little issue.] :>)

Sometimes headlines are just too much. Losing your man boobs. And suddenly, I'm getting all these emails about the jackrabbit vibrator. I'm afraid to click on one. Lord knows where it'll lead. I mean, I don't need a vibrator - just checking out for information in case someone I know wants one. Ya know.

Why GE will be at the trough feeding from Uncle Sugar's tit? It's a bank disguised as an industrial company.
GE Capital, the world’s largest non-bank finance company with consolidated assets of $637 billion, accounted for $8.6 billion, or 48 percent, of the Fairfield, Connecticut-based parent’s $18.1 billion profit from continuing operations last year. Chief Executive Officer Jeffrey Immelt has said he wants the division to contribute about 30 percent of annual profit.
read the whole thing:
http://www.bloomberg.com/apps/news?pid=20601109...

jon stewart is killing them. this shit is hilarious

The AIG Outrage
By Lawrence Kudlow

This whole AIG fiasco -- where the entire political class is suddenly screaming over bonuses paid to derivative traders in AIG's financial-products division -- is just a complete farce. What it really shows is how the government has completely bungled the AIG takeover. Blame the Bush administration and the Obama administration. It also shows, once again, why the government shouldn't run anything, because it cannot run anything.

AIG should have been placed in bankruptcy last fall under some sort of government sponsorship. While in bankruptcy, all the salary contracts (and every other AIG contract) would have been nullified and voided. At the same time, there would have been an orderly liquidation and sale of AIG's assets and separate divisions.

But as things stand now, there still is no clear roadmap for the dissolution of AIG. There are ideas, but nothing is set in concrete.

And as for the $165 million or so in AIG bonus payments, the Obama administration -- including the president, Treasury man Tim Geithner, and economic adviser Larry Summers -- knew all about them many months ago. They were undoubtedly informed of this during the White House transition.

So there's no big surprise. Nobody should be shocked. But President Obama is doing his best play-acting ever. He knows full well that the nationwide outcry against federal bailouts and takeovers is only going to get worse on his watch. His poll numbers are already falling, and this AIG episode is going to pull them down more.

Incidentally, has anybody asked Team Obama why it is more than willing to break mortgage contracts with a bankruptcy-judge cram-down, but won't cram-down compensation agreements for AIG, despite the fact that the U.S. government owns the company? Kind of odd, don't you think?

The Wall Street Journal editors get it right when they ask: Who's in charge and what's the game plan? The whole AIG story is an outrage.

What's more, AIG is acting as a conduit for taxpayer money that is being sent to dozens of derivative counterparties, including foreign banks and American banks like Goldman Sachs. If we're going to bail out all these other firms, why not bail them out in full taxpayer view? Why is the money being laundered furtively through AIG? And where exactly is the end game for AIG? How are the taxpayers going to be repaid?

And what is Treasury man Geithner's role in all this? He appears to be the biggest bungler in what has become a massive bungling. My CNBC friend and colleague Charlie Gasparino thinks Geithner can't survive this. I am inclined to agree.

Nevertheless, behind the furor over AIG, there is some good news to report on the banking front. This week's decision by the Federal Accounting Standards Board (FASB) to allow cash-flow accounting rather than distressed last-trade mark-to-market accounting will go a long way toward solving the banking and toxic-asset problem.

Many experts believe mortgage-backed securities and other toxic assets are being serviced in a timely cash-flow manner for at least 70 cents on the dollar. This is so important. Under mark-to-market, many of these assets were written down to 20 cents on the dollar, destroying bank profits and capital. But now banks can value these assets in economic terms based on positive cash flows, rather than in distressed markets that have virtually no meaning.

Actually, when the FASB rules are adopted in the next few weeks, it will be interesting to see if a pro forma re-estimate of the last year reveals that banks have been far more profitable and have much more capital than this crazy mark-to-market accounting would have us believe.

Sharp-eyed banking analyst Dick Bove has argued that most bank losses have been non-cash -- i.e., mark-to-market write-downs. Take those fictitious write-downs away and you are left with a much healthier banking picture. This is huge in terms of solving the credit crisis.

In a column last week I suggested that not one more dime of government money is necessary for the banks. Instead, the marriage of the cash-flow valuation of bank assets and the upward-sloping Treasury yield curve will do the trick. Net interest margins are rising as banks purchase money for near-zero interest and loan it out at profitable rates. And the new mark-to-market reform will allow banks to hold their toxic assets for several more years and work them out -- just as they did back in the 1990s.

We don't need more TARP. We don't need to take over more big banks. And we don't need to have the government run things it simply isn't capable of running

Mxyztplk

Funny how Larry Kudlow COMPLETELY changed his tone from this:

http://www.youtube.com/watch?v=Lkqb1pQrCcg

GTFOH...a wingnut liar with amnesia...as usual

ooo damn, death by 1000 cuts. its dangerous business that internets and the google

larry kudlow? for real?

He needed his coke fix.

When is everyone prepared to give up on JPMorganChase's monster? They are now destroying hospitals:
http://www.bloomberg.com/apps/news?pid=20601109...

Have mercy.

I cut up all my big bank credit cards last year.

I'm only doing business with my community bank and my local credit union. Thankfully, my mortgage is owned by a regional bank headquartered in Portland, Maine.

Dedicated to Conserv1....and any other wingnut attempting to rewrite and ignore the truth.

Is There an Antidote to the Republican Amnesia?

Rep. Barney Frank


Memory eventually fails us all, but apparently the decline strikes one party far more than the other.

In recent weeks, my friends across the aisle have expended a lot of breath proclaiming that the Democrats caused the present financial crisis by failing to pass legislation to regulate financial services companies in the years 1995 through 2006.

There is only small one problem with this story -- throughout this entire period the Republicans were in complete charge of the House and for the most critical years they controlled the House, the Senate, and the Presidency.

In the House of Representatives, the majority party has almost unlimited power over the minority party. The majority party owns the committee chairmanships; it controls what bills come to a vote; and it is under no obligation to consider the ideas of the beleaguered minority. When the Republicans were in the majority they ruled with an iron first; it is no accident that Tom DeLay was known as "The Hammer."

That is why I find it particularly flattering the Republicans now claim that in the years 1995 to 2006 I personally possessed supernatural powers which enabled me to force mighty Republican leaders to do my bidding. Choose your comic book hero -- I was all of them.

I wish I had the power to force the Republican leadership to do my bidding! If I had had that power, I would have used it to block the impeachment of Bill Clinton, to stop the war in Iraq, to prevent large tax cuts for the extremely wealthy, and to stop government intervention into the private life of Terri Schiavo. Yet that power eluded me, and I was unable to stop those things.

According to the Republicans' misty memories of the period before 2007, I allegedly singlehandedly blocked their determined efforts to regulate Fannie Mae and Freddie Mac, and my supposed intransigence literally caused the worldwide financial crisis.

Fortunately, we have tools to aid memory -- pencil and paper, word processing, transcripts, newspapers, and the Congressional record. And as described in the most reputable published sources, in 2005 I in fact worked together with my Republican colleague Michael Oxley, then Chairman of the Financial Services Committee, to write a bill to increase regulation of Fannie Mae and Freddie Mac. We passed the bill out of committee with an overwhelming majority -- every Democrat voted in favor of the legislation. However, on the House floor the Republican leadership added a poison pill amendment, which would have prevented non-profit institutions with religious affiliations from receiving funds. I voted against the legislation in protest, though I continued to work with Mr. Oxley to encourage the Senate to pass a good bill. But these efforts were defeated because President Bush blocked further consideration of the legislation. In the words of Mr. Oxley, no flaming liberal, the Bush administration gave his efforts 'the one-finger salute.'

The Republicans can claim some supposed successes despite my awesome power. In 1999 they passed the Gramm-Leach-Bliley Act, which overturned a Depression-era law preventing commercial banks from acting like investment banks. In 2000, they passed another bill which loosened regulation of derivative markets. I voted against these bills -- but to no avail.

Under Republican President George W. Bush, many federal agencies turned a blind eye to activities which would later precipitate the global financial meltdown. The Securities and Exchange Commission decided to allow the nation's largest financial institutions to "self-regulate;" the Federal Reserve under Alan Greenspan declined to use its power to regulate subprime mortgages; the Comptroller of the Currency decided to preempt state consumer laws on subprime mortgages.

Meanwhile, President Bush himself demanded that Fannie and Freddie increase the percentage of subprime loans they purchased, supposedly because of his belief in an "ownership society." Incidentally, increased lending to subprime borrowers would also fuel astronomical profits by the financial services industry. I publicly opposed giving mortgages to unqualified borrowers because I believed that some families are better off renting.

Yet somehow none of this was recorded in the Republican collective memory.

Forgotten too is the significant progress that was made after the 2006 elections, when the Republicans in Congress were repudiated by American voters.

Ironically, this is the period in which I and my Democratic colleagues actually did possess the magical power needed to make real change in Washington -- we became the majority party. In March 2007, just two months after I became the Chairman of the Financial Services Committee for the first time, I moved quickly to forge a bill which would regulate Fannie Mae and Freddie Mac. The bill passed the House in May, with all 223 Democrats voting for it, and 103 Republicans voting against it. President Bush later signed that legislation into law.

Later in 2007, I introduced legislation to restrict subprime mortgages. The bill passed the Financial Services Committee and the House, but it did not pass the Senate, where because of the filibuster rule, the Republican minority actually does have the power to hobble the majority. The bill passed the full House with all 227 Democrats and 64 Republicans voting for it, and 127 Republicans voting against.

Ironically, those Republicans who now attack me most viciously and whose memories are the most impaired were among those who voted against both bills.

Republicans also forget -- or do not understand -- that the present financial crisis has many fathers. The failure to pass any meaningful legislation before 2007 allowed unscrupulous actors to gorge themselves at the public's expense. Unregulated mortgage brokers sold subprime loans including the now infamous NINA (No Income No Assets). Major financial institutions packaged bad mortgages into securities and sold them as low-risk investments. Rating agencies gave stellar grades to toxic assets while being paid by the companies who stood to benefit from their actions. Insurance companies like AIG issued Credit Default Swaps which magically turned toxic assets into gold.

The executives of some of those institutions now seek bonuses for their fine work. Perhaps my Republican colleagues should ask for bonuses too.

The true tragedy is that this is more than a game. Millions of Americans are now unemployed and millions of others have lost their homes. Well-run businesses have been shaken to their foundations, and the stock market has taken a plunge not seen since the Great Depression. Many people facing retirement have found their savings have been cut in half.

They say that those who forget history are doomed to repeat it. But the collective amnesia of the Republican Party will not only hurt its members -- it threatens to hurt all of us. Is there a cure for amnesia? We can only hope.

http://www.huffingtonpost.com/rep-barney-frank/...

President clinton signed these laws. He could have vetoed them. Rahm Emanuel, Larry Summers and Robert Rubin advocated for them. Ben Bernake and Alan Greenburg said nothing.
There is plenty of amnesia but there is much creative thinking.

I agree 100%. A lot of selective amnesia going around.

The Wall Street industrial complex knows no political party.

Conserv1 was spouting that CRA, ACORN nonsense and how expanding homeownership to minorities and other foolish on the Wednesday Open thread....basically the same wingnut meme.

And the reason I posted this article is not to excuse any particular party but to bring up some factual info that I know is true and that Barney Frank can actually back up with voting records and actually legislation. The things he wrtoe about is true...JJPers have already provided the links.

lol no he didnt say that shit. he really blamed us coloreds for the mortgage problems when blacks make up less than 7 percent of home ownerships in america, and voter fraud and voter disenfranchisement has happened under republican rule forever? thats amazing that he can say that and not remember history or recognize facts

The HuufPo? You can't be serious.

That's exactly what we think about most everything that you post - you can't be serious.

Why don't you address the issue. By the way many politicians post there.

Colin Powell’s former chief of staff: Cheney is ‘evil,’ his fearmongering is ‘assisting’ al Qaeda.
http://thinkprogress.org/2009/03/18/wilkerson-c...

you gotta read the actual story. he pwns him massively ill post a quote

As to twisted logic: "Cheney said at least 61 of the inmates who were released from Guantanamo (sic) during the Bush administration...have gone back into the business of being terrorists." So, the fact that the Bush administration was so incompetent that it released 61 terrorists, is a valid criticism of the Obama administration? Or was this supposed to be an indication of what percentage of the still-detained men would likely turn to terrorism if released in future? Or was this a revelation that men kept in detention such as those at GITMO--even innocent men--would become terrorists if released because of the harsh treatment meted out to them at GITMO? Seven years in jail as an innocent man might do that for me. Hard to tell.

PBO picks final four and winner of NCAA

Barack-Etology: Extended Version

http://espn.go.com/video/clip?id=3994021&catego...

Just saw Rachel Maddow put Evan Bayh and his "ConservaDems" on blast!!

She asking for anyone who has tips on who the other "3" Dems who Bayh said did not want to be named are.

Go Rachel!

Morning Joke featured this story as breaking news. You know Joe was pleased to announce this. I personally am not surprised; Bayh was a staunch Hillary supporter and an Obama win was a pill that he and many other could not swallow. They believe the time is ripe to attack.

I saw it! WTF is going on here? ....I can see having to fight republicans BUT having to fight someone in your own d#mn party? I mean really! Dirty mofos!

Saw it and the NUMBNUTS joked about those 3 conservadems being in a witness protection program.

So anyone reading my comments here (and elsewhere) know that I have been particularly upset by the promotion of the AIG scandal on left wing blogs and in the GOP driven media. But as I was contemplating, I realized that the faux outrage being displayed by everyone in Washington, including the GOP has effectively cornered them when it comes time to institute regulations. What Republican can go before the press and argue when Obama introduces sweeping regulations on Wall Street and other industries? Isn't this what we are demanding? I also realized that in one fell swoop Obama effectively eviscerated the socialism argument. For months Obama has had to defend himself against this ridiculous charge and now 185 million $ later and now nationalizing industries and allowing the government to intercede is no longer a negative thing. I hope that Obama sticks with Geithner because he is genuinely being used as the fall guy and if the GOP is calling for his head then I'm with him.

On point. We speak as if there has ever been such a thing as a truly private company apart from small business. And even small business lobbies hard for sba loans. I'm not against government money going to business in some ways but the giant co's use the states as an atm linked from the pockets of 300 million people directly to the pockets of about 1 million people.

AIG is not just a distraction from the root, but a giant apple hanging low from the tree.

The treas sec'y I only fault for not being deft enough in such a public position. He is lucky not to be black as that scrutiny he's now under would metastasize into yet another referendum on black intelligence.

The fearles corporate exec with grit and intelligence above all is a perennial myth as we discover yet again that these are just supermen flying on strings. Today, we see the strings better than folks on broadway's front row watchin' peter pan.

Interesting analysis. Never thought about it that way.

co-signing. Your assessments are on point.

http://corner.nationalreview.com/

"If Obama disagrees with Liddy's decision, he should either A) fire Liddy, or B) fire the guy who hired Liddy (Tim Geithner). What he should not do is go along with this Kabuki outrage, in which official Washington pretends it had no idea that big financial institutions — especially failing ones — might need to keep paying their top employees competitive salaries.

Of course, it would be nice if the Obama administration figured out a better way to wind down AIG, but unfortunately, as Rich pointed out the other day, Obama decided that it was far more important to do Great Society II than to formulate a set of clear rules for the orderly liquidation of insolvent non-bank financial institutions. I'm all for figuring out how to get the government out of AIG, but I don't think shaking our fists over these bonuses is getting us closer to a solution."

Mxyztplk

Dope, AK. I imagine c1 almost spoke the backwards magic word.
Nevertheless, methingks C. Dodd may well be his partner with a little blue derby, caught in Klptzyxm here: http://politicalticker.blogs.cnn.com/2009/03/18...
h&f

Conserv1. What would be really great is if conservatives developed a coherent message. You have been railing against AIG for two days yet your very arguments undermine the conservative philosophy you so aggressively espouse at every opportunity. Remember, you're the party that doesn't want regulation or oversight on any industry. Remember, you're the party that takes a laissez faire approach to every industry (see NRO articled you posted.) So, why are you on here (see earlier posts) blasting Obama and Geithner? Shouldn't you be defending the pay out of the bonuses? Or are you telling me that your outrage and helpful guidance over the past two days is (dare I say it) political (gasp!)?

too late Conserv. President Obama already addressed this issue at the townhall in California. If you missed it - search google.

next issue . . .

Conserv1 is only programmed to google the GOP's talking points.

Oh Come On, Let's Blame The Israel Lobby For Iraq
http://tpmcafe.talkingpointsmemo.com/2009/03/18...

Marie Douglas-David, Wife Divorcing Former CEO, Says $43 Million Not Enough


HARTFORD, Conn. — A 36-year-old Swedish countess divorcing a former CEO says she cannot live on $43 million.

Marie Douglas-David, a former investment banker, says she has no income and needs her 67-year-old husband, George David, to pay her more than $53,000 a week _ more than most U.S. households make in a year _ to cover her expenses.

http://www.huffingtonpost.com/2009/03/18/marie-...

Fuck her.

No thanks.
She costs too much.

lol

Silly goose!

Co-Sign!

Fuck her and the horse she rode in on.

Anne Brown died today NPR announced today. She put the Bess in Porgy and Bess. She refused to perform in a segregated theater in DC in 35 and it was integreated for a few days. She decided racism was so bad she moved to Europe. She married a Norwegian Olympian, raised a family and taught music..
http://en.wikipedia.org/wiki/Anne_Brown
She sang before youtube.

Says she died on March 13.

Thanks for this, RobM.

So I know that the blogs are outraged, the MSM establishment are outraged, but are not political people as outraged as the pols. I'm just not sure guys. While at work, people were discussing the AIG thing, but they were not ready to take out pitchforks. They just shurgged and said "Of course, they did..." In other words, thanks to the last 8 years, and beyond, we are more cynical than we used to be. It seems to me that many of us expect the worst, but hope for the best. That way, if the worst happens, we aren't shocked, but if the best happens, we are even more happy.

Anyway, just my 2 cents...here's an interesting post from Time's Swampland Blog.

AIG Sturm und Drang"

"There's something about this scandal that feels spun. I don't know if it's being driven by the cable nets or political paranoia about how this could affect public opinion – and therefore the Democratic mandate -- down the road, but public outrage is strangely… lacking. During past Washington tempests, such as TARP1 or the stimulus or even the Dubai ports scandal and Terry Schiavo, I'd often hear from friends across the country. This time it has been dead silence. Maybe there's just been so much outrage – junkets, bonuses, jets, etc – that they'd become imbued to the antics of greed? Curious, I checked with the Congressional switchboard. The Senate Sergeant–at-Arms, which runs the switchboard, reports that they have seen just the slightest uptick in the normal call volume. “It's not like TARP1,” concedes Rep. Elijah Cummings, a senior member of the House Oversight Committee who has been looking into AIG for months. “It may be a bit personal. There's a frustration – when you see a company doing exactly what you hoped they wouldn't, even thought you'd legislated to prevent them from doing.”

Not sure if I agree with the whole post, but the comments are pretty interesting.

Anybody who's talking about pitchforks got the idea from Stephen Colbert. Clearly, they believe if Colbert said it, it must be true. Stephen Colbert was the only person talking about pitchforks on Monday. That's who they got it from. So sad! So sad!

I haven't spoken to a single person in my real life who's the slightest big outraged.

Us political junkies tend to buy what the cable news sells us. Or at least takes it seriously and fears that others are buying it.

i wanted to share something that grace lee boggs sent me about detroit. it's a multimedia flyp video presentation on what's going on in detroit. and it's a very different approach to transforming the economy. as one of the folks on the video says, "the rest of the country is now starting to experience some of the things that detroit has been through in the past 30 years. we have things to share. . . and things to learn."

i found this very inspiring and lurking around here every day, thought you might be as interested as i was tonight as i watched. it's a multimedia presentation. there are nine pages i think and some pages you just read, others you click on the videos and watch people talk. the first "page" is a poem.

http://www.flypmedia.com/issues/23

Wow, POTUS will have 2nd Primetime Press Conference NEXT WEEK.

That former President who shall remain nameless had only two conferences in his whole dayum Presidency, but the Current POTUS is doing his second and he hasn't been in office for two solid months yet.

President Obama...Gotta Love Him!

The Banality of Outrage

"Now, I don’t know about you, kind reader, but while cheering that historic 180 degree turn in the direction of the US head of state’s attitude toward Wall Street greed, I sure wasn’t under any illusion that the corporate sector would immediately stop practices that became standard operating procedure, particularly under presidents Reagan, Bush I, Clinton and Bush II, at the president's first declaration that he'd tackle the problem. And so when I, along with many of you, learned yesterday that AIG is still up to its old tricks I confess that while, yes, it was bothersome, annoying, irritating, and many other adjectives, I did not feel “outraged.” Outrage requires a certain amount of surprise combined with magnitude before it rears its head from this corner. Otherwise, it's just the daily information highway road rage that some seem to need to get the adrenaline flowing."

Another good post putting Murdoch on blast:

Dupes of Corporate Sponsored "Populism"


"So if you find yourself on the same page as Murdoch’s New York Post, ranting about “greedy bastards” in harmony with what you think is a “progressive” watershed, it’s time for you to look in the mirror and experience some real shock to acknowledge: “Oh, my god, how could I have been such a dupe?”

Yeah, and middle class people who get caught up in this "tea party" thing are marks, too.

More Al:

"When Obama nominated Geithner to Treasury I was glad for two main reasons: One, if not him, it would have likely been Larry Summers and, two, Geithner – despite his evident talents – never personally chose the big money corporate jobs offered him throughout his career. He’s always worked outside of the private sector, for less than his pay scale. He’s a public servant by nature, not a revolving door type (see Rubin, Robert, Secretary of Treasury under Clinton, Bill, for an example of the latter).

And I don’t see how anybody can make an accurate judgment on the job Geithner has done so far just 50 days into a flight that must cover a distance of 18 months to two years before you or they or I will know whether the moves he’s been making now will land the airplane in the terrain of economic turnaround."

..."To me, gearing up the “outrage” to call to remove the pilot of the economic plane in what would be the first hour of a 14 hour trip reflects erratic behavior by those passengers: the amount of time and distance lost landing the plane all over again to get a new pilot (or Treasury Secretary) confirmed and saddled up into the cockpit would delay the eventual landing by even more time than we’ve already been in the air with this one."

Yep, this describes PBO as the methodical, deliberate leader that he is.

Al always brings the rational.

Excellent post. Excellent

Natasha Richardson has died. I was a fan.

Wordsmith: Very SAD news. HEAD BOW for the family.

The Lord's Prayer

Rest In Peace.

So sad. Rest in peace. I pray for God's comforting Spirit to embrace the family.

May the Blessings Be.

Very sad news.

Sending up prayers for her and her family and friends...especially her sons, ages 13 and 12.

Rest in peace. prayers to her family

My mother died after we had to to "pull the plug" in 05. Lord...

Sorry Chris.

Chris,

I'm sorry for your loss! I know the feeling. One of my sisters had to be taken off life support too. The Hospital called the family in but I couldn't go. Just couldn't bare it. It was too much!

Justice58: VERY SORRY!

The Lord's Prayer

Bless you, GreenLady!

I appreciate your caring! You have the love of God in you.

Justice58: Thank U! :>)

Sorry to hear that Justice. I know the feeliing too, aunt and grandmother.

msmartin: VERY SORRY.

The Lord's Prayer

MsMartin,

We both know! I had an extremely had time accepting. I didn't want to give her up. I still love her.

Needed 2 delete. Put in wrong place. Sorry. :>)

ChrisChambers: VERY SORRY! Thank you 4 sharing.

The Lord's Prayer

God Bless.

Oops! What else is Pat Buchanan gonna let slip?!

what did pat say?

Lamh & Vulcan girl.

Pat was so caught up talking about the AIG bonuses until ...the word "damn" slipped and he immediately said...."excuse me"! lol

He was talking about whose to blame for all of this and was saying

Somebody is to blame for this Damn....for this mess

Bucklannan is soooo phoney. They have all but laid everything from the Tsunami, Katrina, Iraq war, the economic crisis on President Obama.

I'm waiting to hear them blame Rihanna's beatdown on him too.

PBO just said the buck stops with him, he's the president. The MSM just have to have something to chew on.

PBO all but dropped Trou and told them to kiss his black shiney ass, cause he's gonna keep on chewing gum and keep on walking for the American people.

They are as thick as a 2x4.

"I'm waiting to hear them blame Rihanna's beatdown on him too."

RAOTFLMAO

PBO all but dropped Trou and told them to kiss his black shiney ass, cause he's gonna keep on chewing gum and keep on walking for the American people.


You got it, baby! Teehee!

What did he say? I'm on CNN!

Off to the living room to watch

There's Green Lady's SONG!

I just cannot believe I sit and watch these things. God!! I LOVE this guy!

Wordsmith: LOL! :>) THANK YOU VERY MUCH! :>)

Had a rather LOONG and "rough" day with my mommy. Hopin' 4 a betta day 2-morrow.

Coveting JJP prayers. She's 92 -5/6. :>)

Hoping tomorrow is better for you. Ya know "the song" doncha?

We had a gentleman come who was around 92 for an MRI. His sister had driven him; she was 88. Everyone was so enamored - got her tea and some biscotti. Sometimes we'll thru a stretch and see a bunch of folks it seems who are like 93, 94 and "living with their spouse" and we're all like DAMN!!! We want to be that on top of things later on, ya know?

Wordsmith: Since I didn't C it - - dija mean - - Obama Whatever I like :>) :>)

Thank you 4 the good wishes. :>)

My parents were married 4 - 64 years! Annnnnd they were married in their mid-twenties! WOW!! :>)

Good livin'!! :>)

Crap! I read last week about someone helping disenfranchised felons who have 'paid their debt to society.'

when that guy asked his question about what should he do regarding getting another job and being a felon 20 years ago - i know folks were waiting to see if the President would say -- see my staff. lolololol

Ok, that would be the new meme for about a week. PBO's handing out welfare to the Black man. He was who we thought he was, looking out for his own kind, looking out for the Nigras!

Love how PBO took the time to acknowledge what the man had accomplished and ask the man what industry he worked in, and then gives him details on the economics of the auto industry in practical terms. Love it!

and then added - he was confident he would find a job and highlighted the fact that they guy was rehabilitated and employed legally for 13 years . . .

I bet that guy will get a job within the next 2 weeks after that plug from the President.

Yes, he showed compassion and gave reassurance. He'll probably have one by the end of the week.

Sure he will!

damn PBO is splainin this shit isnt he

He is isn't he! I'm not one who understands economics or financial stuff, but he die kinda break it down for people.

go POTUS

thank God for his background in teaching. Comes in handy as he has to educate folks like me who are challenged on understanding financial 'stuff'.
I like his K.I.S.S. methodology -- keep it simple stupid.

Damn good question!

There's no such thing as top-down economic growth.

Davis-Bacon question.

"We are going to promote Davis-Bacon. "

I've heard that Henry Ford story before many, many times.

That sucks for AfricanAmericans. The law was written to deliberately keep AA from working on Federal Projects as it guarantees white labor union wages and their members. There are few AA's in labor unions despite years of affirmative actions and deal see Chicago or Philadelphia.

Damn Rob - now you have me looking everywhere. Look at this:

But it took the worldwide Great Depression -- which at its height saw one out of four Americans unemployed -- to fuel the passing of the Davis-Bacon Act by a Republican Congress and a Republican President, Herbert Hoover. Representative Bacon, say modern conservative opponents of the law, initially introduced the bill after a contractor employed African-American workers from Alabama to build a Veterans' Bureau hospital in his New York district. More accurately, the legislative history of Davis-Bacon reflects a desire by Congress to reserve jobs on federal projects for local workers, who nationwide faced epidemic unemployment. Opponents to the Davis-Bacon Act have claimed that there was racist intent to the law, but critics have countered that this is a red herring, stating that it was a sincere attempt to make amends for having kept jobs from local workers and now flatly dismiss the conservative claim that it had Jim Crow origins.

The things I learn. I don't know whether to be bummed or pissed.

Have you read up on it? How about this book?

Only One Place of Redress
African Americans, Labor Regulations, and the Courts
from Reconstruction to the New Deal

by David E. Bernstein

I don't know who Bernstein might be.

My comment got eaten....

This is interesting as hell. Is this for real?

Okay - I found some stuff. You don't think there are AA's in construction trades?

There are AA's in labor unions but they are few and far between or segregated. In Philadlephia, the laborers union is almost 100% AA. The Carpenters union is 97% white. The more skill involved the whiter it is

Maybe this sounds stupid - but why is that? Is this the same shit that you get apprenticeships, etc. by who you know?

Just today Mr. Liddy and his grilling - it came up about we don't pay teachers bonuses. Lookit - take that goddamned money back from AIG and PAY some teachers. There is NO reason a teacher should be unemployed.

I don't get that either Wordsmith. Why wouldn't we support our teachers? Without teachers there wouldn't be . . . . ANYONE.

Pitiful

Seems to me teachers didn't start getting a bum rap until school integration.

Town, I believe historically you are right from my us ed history. before that teachers in their respective segregated communities had high status (but still low salary). after integration, the status of teachers started to drop across the field in the us.

where can you watch the townhall without interruptions.

cnn.com?

It's on CNNlive.com

Cspan 3 has it streaming live.

I'm watching on CNN

Try c-span.org

thanks!

From WWD Fashion:

...With this year’s Board of Directors Special Tribute award going to Michelle Obama, the June 15 gala got some instant buzz. “She was on everyone’s ballot,” von Furstenberg said. CFDA executive director Steven Kolb added, “Mrs. Obama got nominated in almost every category, from Eleanor Lambert to Style Icon. The board wanted to give her a serious award. As part of the award, we will establish a grant in her name to support young talent, because she has really epitomized that.” Asked if the First Lady would make an appearance, Kolb added, “I am sure she has a lot of invitations, but we can only hope and try.”



The First Lady has so far embraced quite a few of the nominees, including Narciso Rodriguez, Jason Wu and Thakoon Panichgul. This begs the question: Who would she wear should she come to Alice Tully Hall that night? “She could root for all of us,” Rodriguez, a Womenswear Designer of the Year, said. And if she brings along her husband, the President, as her date for the evening, all the better. There will be plenty of people in the room already vying to dress him, including Menswear Designer of the Year nominee Italo Zucchelli of Calvin Klein Collection. “He is the perfect Calvin Klein man,” Zucchelli said. “He is in great shape, and so elegant.”



Toledo, who dressed Michelle Obama for the President’s swearing-in ceremony, was not about to take credit for helping propel the First Lady to fashion icon status. “We all have,” she said. “She’s really good about supporting every single one of us directly and indirectly by wearing so many American designers.” Like many in the crowd, Wu welcomed the chance to meet with friends and unwind a bit. “In these times, we need some excitement. I’ve been working all year. It’s nice to come out and hear some good news,” he said

http://www.wwd.com/fashion-news/scores-of-desig...

America's Skin-Deep Crush on Michelle Obama

America may be falling for Michelle, but it wasn't love at first sight. When I heard her described as "intimidating" and "angry" or as Obama's "baby mama," I often looked at her rich, brown skin and saw the reason. In this country, you're less likely to get a job if your skin is dark. I can tell you from experience, you're less likely to get a cab. Think of the A-list African-American cover girls whose ranks Michelle has joined: Beyonce, Rihanna, Halle Berry -- none share her complexion. Academic studies show that Americans of all colors associate light skin with attraction and intelligence, and dark skin with poverty and fear.

Those "Americans of all colors" include African-American men, who are often criticized for preferring light-skinned or white partners. The literature on this is explosive and exhaustive, from Morrison to McMillan, Essence to Encarta. No doubt many black women, when they first heard of Barack Obama, assumed he followed the trend: prominent black man, light-skinned or non-black wife. Then they saw Michelle.



http://www.huffingtonpost.com/carlos-watson/ame...

I'm so glad a Black man recognized what's going on and called this out.

Sepia, co-sign. The brotha called SHIT out. You negate a Black woman for her dark skin, you negate your own black ass.

Appreciate the article by a brother and his proclamation of admiration for Michelle Obama.

He nailed it about our dark-skinned sistas. As we at JJP know, that's the reason why some folks both balck and white be hating on the FLOTUS, because Barack chose a beautiful dark-skinned wife and mother for his children and not a white or light-skinned woman.

I loved how he broke it down for the peeps who try to equate darkness with all tht is negative and ugly. We see you, Haters, We see you!

That's why I was so happy there was no doubt she was a sista. I love having my brown skin sistas representing.

Amen, spirit. Even though Michelle is First Lady, some are quicker to embrace Desiree Rogers. Now, I loves me some Desiree but Michelle is the Queen Bee and therefore deserves top billing but some OKOP blacks ain't having it. Sad.

Fuck OKOP. That mentality is a limitation that a BLACK Woman like Michelle Obama has transcended. GO FLOTUS!

I saw this on Huf Post too. It was a good read.

But to be a little OT, am I the only one who thinks Carlos Watson is hot?!

No, no, no....he disappeared for awhile after Kerry was the candidate we did not hear from him, and I wondered where he went...now he is back...GOOD!!

Ya know - Michelle Obama IS the reason I came around to Barack Obama. I know exactly WHAT she meant when she said, " I'm finally really proud ....." - it was most always taken out of context, wasn't it? I've lived overseas and traveled extensively while living there and know the perceptions folks have of the U.S. And Michelle Obama looks like several of my friends, as does my boss.

Good Lawd - could that woman have talked any faster?

Michelle Obama is the number one reason I support love the POTUS.

Originally I was (okay I'll say it) enraptured by the POTUS, but after finally getting to hear her more and more I was all about Michelle.

Go on PBO! Let 'em know, son!

Another great post from Al Giordano over at The Field:

The Banality of Outrage

PREACH PRESIDENT OBAMA!

He's our Employee. PBO works for the American people, All Americans.

I know; I just loved that.

Did you get that? I got that. I love him. I just love him.

one problem at a time -- "our problem"

God, I love our President!

I'm watching it sporadically, and taping it on my tivo so I can got back to it.

It was funny when he took his jacket off, and people started whistling and cheering.

Yeah, heard that! :)

Yeah - he threw his hand out, too - see that?

yep. including me. hahahahahahaha

I guess it's just me and you....

I'm watching also.

it's alright Wordsmith. I am enjoying it enough for everybody.

You GO!! 'cuz I know you love our president. ;-O

He wears mostly white shirts with his suits. I always check out their ties and shirts.

I LOVE my President.

Did I tell ya'll I love my President?

I love President Barack Hussein Obama!

Love Him So Much! Woo Hoo!

claudia_m asked.



So I responded to Color of Change's request to make a call to Gov. Mark Sanford about accepting the stimulus money for our schools here in South Carolina. I have to say, President Obama - you really are pushing me out of my comfort zone... I was nervous since I've never done anything like this before. (I usually express my outrage through petition signatures and comments on JJP - smile.)

In any case, a representative from the governor's office explained to me that the discretionary part of the stimulus funds that Sanford wanted to use would go towards paying down the debt for school construction. Basically, that even though he wanted to use the money for something different, it would still be going to schools. Does this make sense? It is some kind of bait and switch?

I'd really appreciate anyone out there (who knows something about how the states are being asked to use the stimulus funding) to help me understand what Sanford is trying to do. I just want to get my facts straight.

IF ANYONE CAN HELP HER OUT, I'd appreciate it

I'm watching it, too.

He's mocking the "working too much" meme.

hahaha. That was my FAVORITE part. I rewinded it at least 4 times as well as when some guy called out I love you President Obama and he said - I love you back. ;-)

PBO says he can walk and che gum at the same time. Love it. and then he breaks it down in practical scenarios for REAL folks.

You gotta work, pay bills, pay college tuition, save for retirement. Folks can't put any one of them on hold. We gotta plan, save, work, simultaneously.

Dayum, He's got to break it down to kindergarten level for the idiots on National TV. It really makes the pundits and MSM ilk look AS DUMB DOOR KNOBS!!!!

"It really makes the pundits and MSM ilk look AS DUMB DOOR KNOBS!!!!"

co-signing

whatd he say i missed it

he was just saying that 'some say' he's working too much, can't chew gum and walk, and we all don't do one thing at a time and he doesn't either and won't.

Please understand this is paraphrased.

He uses 'piecemeal' quite a bit, too.

Yes he is mocking the meme. He's mocking the pundits, tee hee!

Yes, mocking their asses! Just calling their little meme bullsh%t!

Go President Obama!

Just got my Amazon Kindle 2. Gonna play with it for awhile.
Anyone know any way to convert LIT files to Kindle compatible files?

I use AmberLIT. Others use Convert LIT.

According to one site, they convert it to PDF then: "Your first option is to mail the pdf to yourname@kindle.com and have Amazon convert it for you at a cost of .10 cents per file. I’m sorry but, I want to read all my tech manuals and other pdf formated content without having to pay a bill so, I did a little research and found that Mobi offers a free program that you can use to create .prc files. One of the many supported import formats is .pdf. The other supported formats are .doc, .txt, and HTML. Problem solved. Simply use the Mobipocket Creator 4.2 Publisher Edition to import your pdf’s. "

AmberLIT : http://www.processtext.com/abclit.html
ConvertLit: http://www.convertlit.com/

http://packratstudios.com/index.php/2008/05/04/...

Thanks, I know about Convert lit, but the amber lit is new.

I'll look into both.

THE PRESIDENT IS IN CALI!!!
His first trip to the state as Commander-in-Chief.
And we know that Cali loves the President!

Oh, how I wish I were on Air Force One! I am jealous bout this trip.
Don't you wonder what they were playing on the onboard intercom? Maybe some Dre/Tupac California Love or Biggie's version of "Going Back 2 Cali" or maybe...just maybe...LL's original version:


I'm going back to Cali, Cali, Cali
I'm going back to Cali.. hmm, I don't think so
I'm going back to Cali, Cali, Cali
I'm going back to Cali.. I don't think so

Going back to Cali, stylin, profilin
Growlin, and smilin, while in the sun
The top is down, on the black Corvette
And it's fly, cause it's sittin on Dayton's
Laurents steering wheel, plushed out, gold-leaf phantom top
and three girls waiting
VRRRROOM engine's blowin, the chrome, is shining
Passing all the cars on the way
Movement of the wind, back wheels spin
Pop in a cassette and push play

I'm going back to Cali, Cali, Cali
I'm going back to Cali - yea y'all, I don't think so
I'm going back to Cali, Cali, Cali
I'm going back to Cali..

Webb: Welllll! since U "AXED!" :>)

LL COOL J - GOING BACK TO CALI

ENJOY!! :>)

Oooh Green Lady, Thank Ya!

Webb: MY PLEASURE!! :>)

watching his town hall now.