The blog will be continued in another paradigm once the “dust falls.”

Well, we determined how the States of Michigan and Florida would count in The Democratic Primaries.  Even though the primaries were held in January, we finally determined how this would work.  And, all the hype was one of the most stupidest things in political discourse.   When everything was planned out, everyone wanted to be viewed (The States) in the same lights as Iowa & New Hampshire.  We thought that the primary was going to be finalized by the National Super Tuesday on February 5th and Senator Hillary Rodham Clinton would be the nominee.  So much for that.  Here is the press release from the DNC.     Is the primary over?  No.  Hillary Clinton won the Puerto Rico Primary by a decisive margin and there are two primaries tomorrow.   Will it make a difference?  Maybe yes,  because of the “Super-delegates” concept, ( you know Next to the Super duper delegates, etc).   There is another thing that no one has noticed.  No one has caught up on here?  When was the last time besides 2008, did we pay attention to the Puerto Rico Primary or the South Dakota Primary?  Seriously?   The answer is Never.  Or Once in a Generation.   The Democrats are imploring a 50 state strategy and it was important because of all the media hype that she continue.  Besides Ego, that is why Hillary Rodham Clinton chose to  stay in.  But, by Wednesday.   It is over.  To Harold Ickes,  Mrs Clinton’s campaign manager when the decision was made, “GROW UP!”  We need to see what is in the best interest of the country and have a general election debate.  Not a Hillary and Barry show.

The second thing is the book by Former Press Secretary Scott McClellan.  And, yes, the authors of this blog have actually purchased this book.   Originally, the claims were laughable but actually reading the book, there is substance.   Former Senator Bob Dole, a statesman who this blog is always a fan, went to a pissy child-like rant.    However, NO ONE is discussing the merits of the book, only personally attacking.  Now, this blog still thinks that the “I was tricked, I am the victim strategy is just stupid.”    The merits of the book were not even discussed.    Frank Rich goes into detail here.   It was damaging for McClellan to go into detail, but I do not think that It will be hugely influencial on Election 2008.  McCain is Not President Bush.    Iraq has really changed the political discourse.

The third event was that Barack Obama Quit Trinity United Church in Chicago.  This is a non-event that gets turned into an event.    On Hannity’s America last night on Fox News, it was interesting of how Hannity was trying to label Barack Obama as a “radical.”  But, time will tell.  But the story is getting old, and if there is not more of a substantive argument, then by election day, the statement will be ” I quit the church, this is re-hashing of old issues, people are living in the past.”

However, Barry Goldwater was alot more tolerant than John McCain currently is. In 2000, his belief that Pat Robertson and Fawell were “agents of intolerance” was very positive. Barry Goldwater was for Gay Rights, had members of his own family who were gay, and was accepting. One of the best quotes is “You don’t have to be straight to be in the military; you just have to be able to shoot straight.” Goldwater was a libertarian of the west. He had a definite western appeal.

Barry Goldwater supported Sandra Day O’Connor’s nomination to the US Supreme Court without hesitation, while McCain, would probably do what is the best politically. McCain has some great lines though. But Barry Goldwater’s great one liner is a favorite, “Every good Christian ought to kick Falwell right in the ass.” Couldn’t have said it better!

The main difference between McCain and Goldwater is political postering. When concerned about the Religious Rights Influence, Goldwater stood up. “Do not associate my name with anything you do. You are extremists, and you’ve hurt the Republican party much more than the Democrats have.” However, McCain as illustrated in the campaign, only succumbs.

Many large financial institutions have failed. One, was Drexel Burnham, Lambert, for example.   But what makes this interesting is that this is the first time that the Federal Reserve responded.

Bear Stearns had alot of mortgages on their books,  mortgages that were defaulting.  The risk that Bear Stearns was assuming was great along with the fact that they had a cashflow problem.

Wikipedia explains it well…. As of November 30, 2007 Bear Stearns had notional contract amounts of approximately $13.40 trillion in derivative financial instruments, of which $1.85 trillion were listed futures and option contracts. In addition Bear Stearns was carrying more than $28 billion in ‘level 3′ assets on its books at the end of fiscal 2007 versus a net equity position of only $11.7 billion. During 2007, Bear Stearns had several funds that invested heavily in Sub-prime mortgages, and as the market tanked, the value evaporated.     This was noticed in releasing earnings, when it was shown that net profits dropped 61%.  Then in November, Bear Stearns wrote down another $1.2 billion.   This caused more skepticism of the group, as many other brokerages (faced with their own problems) wanted to not do business with Bear Anymore.

In March, clients were dropping like flies. Cash was disappearing.  Bankruptcy was definitely on the table, even though it would decimate the business.  Then someone called the Federal Reserve.   Then in an act of governmental interaction,  the Federal Reserve, in connection with JPMorganChase issued an emergency 28 day loan.  4 days later, Bear Stearns and JPMorganChase agreed to a merger at $2 per share ( which got raised to $10, because of threat of shareholder lawsuits.)

What this blog found interesting was that the Treasury Secretary Henry Paulson was leery. The Wall Street Journal reports that “given the unprecedented level of government intervention in rescuing the troubled firm,& appearing to bailout Wall Street Investors while many were facing foreclosure.

GOT ALL OF THIS…. It is the opinion of this blog that this was a bailout that is unprecedented.   The Congress is having a dreadful time regarding the Mortgage crisis, but can scope out a deal over a weekend.   It furthers the question of how much governmental intervention is appropriate.    There are two schools of thought, one is that Ok, you invested, got over extended, and failed;  the second is that this needed to be done, otherwise the economy would have been driven further into recession.

The Bear Stearns situation is a situation that is the sign of the times.  The sub-prime and other mortgage crisis not only effected the borrowers whose homes are repossessed, but large institutions as well.  However, what is different, is that the government was quick to come to Bear Stearns aid and has been not as quick in coming to those effected by the sub-prime crisis.  What is good for one, should be good for the other.  Many, Many people lost billions of dollars because of the situation and there is empathy.    The true effects will be felt for many years to come.

In the book, McClellan has said “I had allowed myself to be deceived into unknowingly passing along a falsehood,” he wrote. “It would ultimately prove fatal to my ability to serve the president effectively.”  Also, he said, “One of the worst disasters in our nation’s history became one of the biggest disasters in Bush’s presidency,” he wrote. “Katrina and the botched federal response to it would largely come to define Bush’s second term.”

Ok.  this was not a posting on Daily Kos.  It is so shocking!!!!!!!!!

Here is this blog’s opinion about this.  The phrase total crap can be used, but not as one of President Bush’s former advisors have indicated.   I think that Scott McClellan publishing this book  is total crap.  Now I have not read the book, but there are parts of it that are the typical sleeze tell all.   It is in the paradigm of what the publishers want.  Follow this:

Bush === Bad

Iraq=== We were lied to because of the Bush Administration

Karl Rove===Evil.

Now, I could have had some left-wing blockers write this.  Now, I am NOT a Bush Fan and think that his administration has been a failure.  But it is awfully Damn convenient that this happens now.   Like sticking a card in the ATM.  Scott McClellan’s press conferences were one of the most arrogant things I have seen.  My question is this, if it was so bad, why didn’t he quit?   Can’t come up with an answer.  Like I said,  it is total crap.

Here is the Youtube and Keith Olbermann’s Opinion:

It is getting weirder and weirder this political season. But she did not apologize for her comments. Not really. The Media has forgiven Hillary Rodham Clinton over and over. Keith has emphasized over and over.

Enjoy.

here is the youtube:

The sad thing about the situation is that we are talking about the same issues than 30 years ago! I just love it, we were told, we got to buy the SUV’s in addition to other cars, because it was fashionable & then were told that we can’t, because the gas prices and their bankrupting effect.   Plus,  I LOVE Archie’s point where we get told that we have to make “sacrifices” because we are always told that!

The Title  of the posting is :

Ignoring flip-flops, NY Times cited McCain’s “history” on immigration, relationship with “religious conservatives” as appealing to Oregonians’ “libertarian streak”

 All I got to say is this:  I know Libertarians, I work with Libertarians, Libertarians are friends of mine and there is no way in hell that John McCain is a Libertarian!

It is timing that is incredible because many believe that a Barack Obama Presidency would be similar to President Jimmy Carter’s.  Here is an example of some of the maliaseness of the Carter Administration before delving into the post.

Oh Yes he did.  Jimmy Carter sounds very weak.  Now my question is that does Jimmy Carter sound anything like Barack Obama?  The reason why this is pulled together is because Barack Obama has the delegate majority as reported in The Washington Post, and it looks like he will be the Democratic Nominee.   However the official event has not been unfolded. The speech from Iowa last night was quite inspiring.

There are alot of issues that will be addressed by the Nominee of each party.  These issues range from the economy,  terrorism,  health care,  global warming.  The list goes on and on.  There has been alot of things that have been heightened over the last Eight years.    Michelle Obama is not a political issue and neither is Jeremiah Wright.  This blog has commented extensively about Jemimah Wright, (Here),  and (Here).  This blog has commented about the relationship or acquaintance of Barack and William Ayers. (Here).    Therefore, it is not value adding to rehash these concerns.  Barack Obama was correct in his defense of his wife.  The video in question that led to the questions is below:

Note, that she has said, hope is making a comeback,  people are hungry for change and desperate for change.  Now, the comments that are heard over and over (Fox News) are below:

Notice the difference!  She is illustrating how in need of hope the nation is. Some of her words could be taken out of context, but she is not someone angry who “Hates America.”  When is it politically acceptable to attack the families of candidates?

Furthermore,  she is not the person running, he is!

This has been the most bizarre primary season in history and Barack Obama has to confront racial issues.  This blog has commented extensively on that issue also, (Here). He has made some mistakes (Blog post)  but so has John McCain.  Some of the liberal media have tried to put Barack on a pedestal, (Blog Post)

This post is not endorsing Barack Obama for President.  However, when is the election going to be determined by actual issues instead of distraction?  It is not helping the dialogue at all to have to waste time on issues like this.  People are turned off. America is yearning for hope.