Each day, it seems, we're greeted with more harrowing news about our economic situation. While our government can't really affect outcomes very much in such a large and diverse economy, they can provide direction and leadership. Here's how I see the leadership thus far.
We were first assaulted with banking troubles weeks ago. Our government's initial response was to tell us the economy was sound, direct from the MBA president himself. Next, AIG, the insurance firm that only hired the best, was found to have invested in risky securities and was technically insolvent. A bailout package was put together for them. On the heels of that news, Lehman Brothers declares itself insolvent and our government chose to let the market run its course. Quickly following that, Goldman Sachs, the revered Wall Street firm, began to teeter. Our treasury department, made up of prior Goldman executives, couldn't let that collapse, so Goldman declared itself a bank and received emergency funding from the discount window. Have they opened any bank accounts for anyone yet?
In the meantime, Washington Mutual and Wachovia failed; institutions that were supposedly too big to allow to fail. With so many assets losing value, lending has screeched to a halt. The treasury proposed and Congress approved a bailout plan (yes, it took two tries) to purchase mortgage assets to keep the downward spiral from accelerating. Then, treasury decided to buy equity stakes in banks. Then it said that it wasn't really going to purchase the mortgage assets after all. Where is the leadership here?
Thursday, November 13, 2008
Saturday, November 8, 2008
The Other Side of Campaign 2008
The long campaign is over.
Tuesday, Election Day, started by voting first thing, before heading to the office. The day ended on an exciting note. After a quick supper following work, we camped in the living room, television on CBS' coverage, occasionally checking in on what MSNBC was saying, and the computer on. The Firefox browser was open with multiple tabs on the secretary of state's websites of key states: Ohio, Indiana, North Carolina, I threw in South Carolina for a contrast, Georgia (really not key, but our home for so much of our adult lives), Pennsylvania, and whatever other one seemed important at the moment.
We turned in around 10, not fully knowing who'd won, but more optimistic than ever that things were going to turn out right; that the low-intelligence Republicans that have been mismanaging and spending this country into poverty were going to be gone in mere months from center stage. And by the time we awoke in the morning, it was.
The gym on Wednesday was more interesting than usual. People were upbeat at 6 in the morning and we all engaged in some happy conversation about the election and how well it turned out. More smiles than usual at that time in the morning.
Most at the office were more chipper than usual on Wednesday. There was a feeling that things could only go up from here. A welcome outlook, given the dispiriting economic news and never ending self inflicted war mongering engaged in by the current government.
Will things truly be better going forward? Sure is hard to say, but hard to imagine it getting worse when we all know that individuals in powerful positions are more likely to be there in future years because of their abilities, not because of some faith background or someone's impression of their "soul" or fidelity to the current president.
Tuesday, Election Day, started by voting first thing, before heading to the office. The day ended on an exciting note. After a quick supper following work, we camped in the living room, television on CBS' coverage, occasionally checking in on what MSNBC was saying, and the computer on. The Firefox browser was open with multiple tabs on the secretary of state's websites of key states: Ohio, Indiana, North Carolina, I threw in South Carolina for a contrast, Georgia (really not key, but our home for so much of our adult lives), Pennsylvania, and whatever other one seemed important at the moment.
We turned in around 10, not fully knowing who'd won, but more optimistic than ever that things were going to turn out right; that the low-intelligence Republicans that have been mismanaging and spending this country into poverty were going to be gone in mere months from center stage. And by the time we awoke in the morning, it was.
The gym on Wednesday was more interesting than usual. People were upbeat at 6 in the morning and we all engaged in some happy conversation about the election and how well it turned out. More smiles than usual at that time in the morning.
Most at the office were more chipper than usual on Wednesday. There was a feeling that things could only go up from here. A welcome outlook, given the dispiriting economic news and never ending self inflicted war mongering engaged in by the current government.
Will things truly be better going forward? Sure is hard to say, but hard to imagine it getting worse when we all know that individuals in powerful positions are more likely to be there in future years because of their abilities, not because of some faith background or someone's impression of their "soul" or fidelity to the current president.
Sunday, November 2, 2008
Campaign 2008
Campaign signs abound all over the area; in people's windows, on their porches, cars and in literature left on our door. The final days are coming, with polls delivering sometimes varying estimates of the winner and the margin between the candidates.
A campaign attack piece arrived on the doorstep yesterday, purportedly from the Pro-Life Political Action Committee for Southeast Pa. They're calling on all Catholics to vote against Obama. These right wing religious types converse about being pro-life and that Obama is the "most pro-abortion candidate ever to run for U.S. President." They say that he "opposes protecting the elderly, disabled and terminally ill from being killed by deliberate dehydration" and talk about the brain dead Terri Schiavo being murdered. They conclude that a "Catholic voter's highest priority following the pro-life principle that the direct and intentional killing of innocent human life is always wrong." Their argument is flawed; note the use of the word innocent. It's like an asterisk that allows them to murder or kill in situations they deem the opposite of innocent. Unfortunately, if they're properly pro-life, it shouldn't matter whether someone is "innocent" or not. These types want it both ways and support capital punishment. Their inconsistency just doesn't work. Too bad most of the Catholic population isn't with them on this one. Most even practice contraception (they see that as murder too). Kind of silly that the church pretends so.
The second most important item in the brochure is same sex marriage. They put the term in quotes, I imagine, because they don't support it. They use euphemistic phrases like "protecting marriage" which is terminology right out of fringe religious groups. At the same time, they use a quote from the Declaration of Independence regarding unalienable rights. Too bad that marriage is one of those rights. Too bad, also, that most of their congregants and the public aren't with them on this one as well. Again, the church pretends otherwise. Doesn't it make you wonder why they're losing congregants and struggling to keep priests in the pulpit?
The brochure says that distribution of the brochure is an essential part of the Church's mission. They should check with the IRS. The church can't put out political literature AND also claim tax exemption. Again, they want it both ways. Why has the church hitched it's wagon to fringe religious principles and pushing the legal envelope regarding political advocacy?
A campaign attack piece arrived on the doorstep yesterday, purportedly from the Pro-Life Political Action Committee for Southeast Pa. They're calling on all Catholics to vote against Obama. These right wing religious types converse about being pro-life and that Obama is the "most pro-abortion candidate ever to run for U.S. President." They say that he "opposes protecting the elderly, disabled and terminally ill from being killed by deliberate dehydration" and talk about the brain dead Terri Schiavo being murdered. They conclude that a "Catholic voter's highest priority following the pro-life principle that the direct and intentional killing of innocent human life is always wrong." Their argument is flawed; note the use of the word innocent. It's like an asterisk that allows them to murder or kill in situations they deem the opposite of innocent. Unfortunately, if they're properly pro-life, it shouldn't matter whether someone is "innocent" or not. These types want it both ways and support capital punishment. Their inconsistency just doesn't work. Too bad most of the Catholic population isn't with them on this one. Most even practice contraception (they see that as murder too). Kind of silly that the church pretends so.
The second most important item in the brochure is same sex marriage. They put the term in quotes, I imagine, because they don't support it. They use euphemistic phrases like "protecting marriage" which is terminology right out of fringe religious groups. At the same time, they use a quote from the Declaration of Independence regarding unalienable rights. Too bad that marriage is one of those rights. Too bad, also, that most of their congregants and the public aren't with them on this one as well. Again, the church pretends otherwise. Doesn't it make you wonder why they're losing congregants and struggling to keep priests in the pulpit?
The brochure says that distribution of the brochure is an essential part of the Church's mission. They should check with the IRS. The church can't put out political literature AND also claim tax exemption. Again, they want it both ways. Why has the church hitched it's wagon to fringe religious principles and pushing the legal envelope regarding political advocacy?
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