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Author Topic: The State of the Union  (Read 3257 times)

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Offline aztecan

  • Member
  • Posts: 5,358
  • 28 years positive, 56 years a pain in the butt
The State of the Union
« on: January 27, 2010, 10:41:48 PM »
Well, I thought our president did a pretty good job in his first State of the Union Address.

He was certainly rather pointed in some of his remarks and I thought there was a pretty obvious inclusion of the overall concerns of the electorate - and especially of the independent electorate.

I was also pleased to see that HIV/AIDS did not get completely ignored and that President Obama has pledged to rid the military of the dreadful "Don't Ask, Don't Tell" policy.

He also threw out a few bones to Republicans, including expansion of nuclear (and he even pronounced it properly! ;D ) energy, clean coal technology and off-shore drilling.

At the same time he pledged to continue to expand clean energy and clean technology.

One thing I was particularly enthusiastic about was the idea to expand infrastructure projects across the nation to help improve the overall economy.

For those unaware, the infrastructure in the U.S. is in a sad state of affairs. Many of our railways, our interstate highways, our river levees and dams, and especially our bridges, need help.

I also liked his urging for a law to correct the Supreme Court's recent ruling that removes all limitations on campaign contributions - even from foreign sources. That is something that must be addressed.

All in all, I think the State of the Union address was well done.

Anyone else see it?

HUGS,

Mark
"May your life preach more loudly than your lips."
~ William Ellery Channing (Unitarian Minister)

Offline Matty the Damned

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  • Posts: 12,160
Re: The State of the Union
« Reply #1 on: January 27, 2010, 10:50:22 PM »
Yus, I did.

I like your President. As for the criticisms made of him in his first year - well considering the hype following his inaugauration (ZOMG TEH MESSIAH!) it's not surprising he looks a bit battered 12 months down the track.

Not necessarily a bad thing, that. In fact a little tarnish can be a good thing.

I question this bi-partisan hard on he has. It seems to me that as far as the Rethuglicans are concerned bipartisanship is about DOING WHATEVER THEY WANT. Congressional Demonkrats seem to agree with this.

Now Australian politics is bitterly partisan. We don't do this "my friends across the aisle" lark. So perhaps that colours my perception.

I'm just waiting for a progressive politician in the States to stand up and invite Mitch McConnell, John Boehner and that egregious dickhead Joe Liebermann to go and fuck themselves.

MtD

Offline Miss Philicia

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  • celebrity poster, faker & poser
Re: The State of the Union
« Reply #2 on: January 27, 2010, 10:53:40 PM »
I enjoyed the part where Barry looked at the conservatard Supreme Court justices and said "with all due deference, you suck!"
"Iíve slept with enough men to know that Iím not gay"

Offline aztecan

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  • Posts: 5,358
  • 28 years positive, 56 years a pain in the butt
Re: The State of the Union
« Reply #3 on: January 27, 2010, 10:56:18 PM »
I'm just waiting for a progressive politician in the States to stand up and invite Mitch McConnell, John Boehner and that egregious dickhead Joe Liebermann to go and fuck themselves.

MtD

I would love to see that as well, in particular with Liebermann. Boehner makes me want to smack him whenever he is speaking on TV. Its not just what he says, its the smug look on his face when he says it that gets me.

HUGGLES,

Mark
"May your life preach more loudly than your lips."
~ William Ellery Channing (Unitarian Minister)

Offline J.R.E.

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  • Joined Dec-2003 Living positive, since 1985.
Re: The State of the Union
« Reply #4 on: January 28, 2010, 07:57:10 AM »
Boehner makes me want to smack him whenever he is speaking on TV.
HUGGLES,

Mark



Yes, I can't stand watching that Boner either  :D  I feel Obama did pretty well last night.  He's going to be in Tampa today to give 1 billion for high speed rail.


http://www.baynews9.com/content/36/2010/1/28/575921.html?title=Obama+visit+today:+a+billion+for+Florida+rail


Ray
Current Meds ; Viramune, Epzicom, 40mg of simvastatin, 12.5mg of Hydrochlorothiazide.
Metoprolol tartrate 25mg



http://forums.poz.com/index.php?topic=40802.0

http://forums.poz.com/index.php?topic=45159.0

http://forums.poz.com/index.php?topic=39722.msg495621;topicseen#msg495621

http://forums.poz.com/index.php?topic=46806.0

http://forums.poz.com/index.php?topic=39414.msg491701#msg491701


 In October of 2003, My t-cell count was 16, Viral load was over 500,000, Percentage at that time was 5%. I started my first  HAART regimen  on October 24th,03.

 As of DEC 9th, 2013,  t-cells are at 437 Viral load  <40 .

 Current % is at 16% (L)

  
 62 years young.

Offline Andy Velez

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Re: The State of the Union
« Reply #5 on: January 28, 2010, 09:02:17 AM »
Among other things it was good to have a president speaking as if the American audience might actually be capable of understanding complex problems. And giving a sense he understood them himself.

As in years past, it's discouraging (and enraging) to see how partisan the overall Republican response continues to be, always seeming to put politics and party loyalty above the possibility of genuine cooperation to address the issues. 

The faces on the Chief Justice of the Supreme Court and others in his crew were a study in stone when Obama dared to speak critically of their recent decision which essentially allows a free-for-all in political spending.

Definitely more rocky times ahead.

Andy Velez

Offline Matty the Damned

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Re: The State of the Union
« Reply #6 on: January 28, 2010, 09:30:09 AM »
Rocky times indeed.

But I think this fellow Obama has the mettle for it. There's an old political truism -  "We campaign in poetry, but we govern in prose."

The stuff of government is a mucky business.

If American politics shares anything in common with Australian politics, it's that both trend to the middle ground. And from what I can tell, Barack is (with an eye to 2012) headed right there.

The USA is wrongly portrayed as a nation of Freeper nutbags. Not so, sez Matty the Damned.

I think Barry is determined not to make the mistake he thinks Dubya made. He isn't listening to the Left of the Demonkratic Party because - well look what happened when George paid attention to the Right of his lunatic mob.

But I know that the progressive wing of the Democratic Party isn't like the phase-locked devil dodgers of the Republicans. You lot are decent folk. Open minded and given to the Sensible Nature.

So I say to all Democrats in these here forums, attend your precinct meetings/caucuses/coffee clatches. I know the gloss has worn off, but take it from a seasoned political warrior - this is the time you have to fight for the soul of your Party.

There are mid-terms approaching. If things seem grim now, imagine what they'll be like when Michelle Bachmann chairs Ways and Means.

MtD
(Who knows stuff)

Offline Assurbanipal

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  • Taking a forums break, still see PM's
Re: The State of the Union
« Reply #7 on: January 28, 2010, 09:36:48 AM »
...He also threw out a few bones to Republicans, including expansion of nuclear (and he even pronounced it properly! ;D ) energy, clean coal technology and off-shore drilling.

I have to admit that I was unable to listen to Shrub for more than 5 minutes -- no matter the topic.  I wound up reading them all.

It is wonderful to have someone whose speeches one can listen to.

(I know -- shallow...
5/06 VL 1M+, CD4 22, 5% , pneumonia, thrush -- O2 support 2 months, 6/06 +Kaletra/Truvada
9/06 VL 3959 CD4 297 13.5% 12/06 VL <400 CD4 350 15.2% +Pravachol
2007 VL<400, 70, 50 CD4 408-729 16.0% -19.7%
2008 VL UD CD4 468 - 538 16.7% - 24.6% Osteoporosis 11/08 doubled Pravachol, +Calcium/D
02/09 VL 100 CD4 616 23.7% 03/09 VL 130 5/09 VL 100 CD4 540 28.4% +Actonel (osteoporosis) 7/09 VL 130
8/09  new regimen Isentress/Epzicom 9/09 VL UD CD4 621 32.7% 11/09 VL UD CD4 607 26.4% swap Isentress for Prezista/Norvir 12/09 (liver and muscle issues) VL 50
2010 VL UD CD4 573-680 26.1% - 30.9% 12/10 VL 20
2011 VL UD-20 CD4 568-673 24.7%-30.6%
2012 VL UD swap Prezista/Norvir for Reyataz drop statin CD4 768-828 26.7%-30.7%

Offline seaspice

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Re: The State of the Union
« Reply #8 on: January 28, 2010, 10:53:05 AM »
        The  issue of our having a high speed train system , was encouraging to hear !  We are behind in this , and with fuel  shortages , believe its the way to go for the next generation.

Offline Hellraiser

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Re: The State of the Union
« Reply #9 on: January 28, 2010, 12:52:24 PM »
I think it's important to this president that he at least make a peace offering to the republicans at every opportunity so that he can at least say he tried.  Their stern refusal and staunch disapproval of any sort of joint efforts will only hurt them in the long run.  It's important to note that while bipartisanship is fantastic for debating issues once they've been debated the two sides should then work together to make progress with what was decided.  The republicans seem to debate until they get their way regardless of the issue.  Our healthcare system is an absolute nightmare and it's only going to get worse.  People in this country (tauted here as the best country you could live in) die because they can't afford medicine or medical help.

To me the cost of healthcare should be regulated and no one should have to go wthout.  The debate was on the right track and it just got dismantled piece by piece until now it looks like there is no reform on the horizon.  Our entire political landscape is so damn divisive that it seems like most politicans (and Americans) have no sense of partnership or teamwork toward the other citizens of their country.  That coming together of all different aspects of life and society are what once made our nation great and is also what has slowly torn us apart year by year.  Everyone seems to be in it for themselves, wether it's paying less taxes or exploiting social programs. 

I wonder if medicare and ryan white, and every other medical program would be in such bad shape if they weren't paying through the nose for medical care?  Doctors should get salary caps, malpractice insurance should be more affordable, drugs should be profitable but not ridiculously priced.  I understand why our government is loathe to do these things, but when so much rides on it I believe it's high time to do the dirty work no one wants to do.

Offline pozniceguy

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  • Posts: 1,169
  • Niceguy Dallas
Re: The State of the Union
« Reply #10 on: January 28, 2010, 04:11:25 PM »
I have a feeling that when you try as hard as he did to appear to be a centrist  it sends the wrong message to the real decision makers  ( Congressmen)    ... virtually all of them feel they have been elected to serve their particular population and thus  we have all the sleazy deals and special treatment of certain area/ groups that seem to accomplish that .  the "serve the Nation" mantra has not been adopted and will not be as long as the "serve my people" , whoever they may be , is still there and the President is still a light weight who cannot seem to get that attitude shifted.  Lyndon Johnson being the  example  of "leader" that got hard things done...and yes even G Bush  who was willing to take the heat and  get it done....( whether you like the results or not)      as far as Obama "trying" to get the congress and the supreme court and the Military to "cooperate"  what a lot of wishful thinking that is.......He already has the authority to change the Military policy about DADT...he hasn't the guts to just do it....being a cooperative nice guy never gets anything done in the Congress....   

I think he is a light weight from the start and still hasn't figured out what being President is all about   "LEAD"   DONT BEG.....stop flapping your lips and get out there where it will do some good..being populist just angers the local pols....going to Mas to support "his" candidate just made matters worse... the locals just saw it as desperate...

Nick

BTW  follow up on what the background polls are saying on why Mass. defected to a Republican...
remember the good times...honor the past but don't live there
Le stelle la notte sono grandie luminose, nel cuore profondo del Texas

Offline Miss Philicia

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  • celebrity poster, faker & poser
Re: The State of the Union
« Reply #11 on: January 28, 2010, 04:23:21 PM »
If I didn't know better, Nick, I'd say you have a bit of knee-jerk dislike for the guy.
"Iíve slept with enough men to know that Iím not gay"

Offline frankt

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  • Posts: 22
Re: The State of the Union
« Reply #12 on: January 28, 2010, 04:26:39 PM »
One of the first laws of economics is governemt controls create shortages and rationing BUT government has given Pharma monopolies on each drug they produce untill they go off patent. Only the goverment can create monopolies and they should regulate industries that recieve special treatment as Pharma does in relationship to drugs. I hate to be an advocate for goverment regulation but it is a problem goverment created by granting these drug patents.
I dont know if any of you have been to the hospital lately but that is one of the biggest scams going on anywhere. I dont know how much of it is a fucntion of the hospital protecting itself from the ambulance chasers and how much is just the hospital padding its bills to make up for those who dont pay.  I do know its a fcking scam. I have given my wife instructions rather than ever take me to an emergency room again,just let me die. What a miserable and expensive experience.
How do those of us who dont have insurance get insurance? This is something the goverment must find a way to do. A Dr friend of mine said if auto insurance was like med insurance, car washes and lube jobs would be covered,thus guaranteeing the $100 car wash. Because so much is covered by insurance the individual,the consumer, is not involved in determining what the price of the drug or service should be. Why should insurance companies hold the line on drug and medical expenses if they are able to pass through all costs to those of us who buy insurance?
In the end Obama made the  same mistakes Hillary made, too many corrupt side deals, too much iron fist,too much secrecy and just too much of everything. Why not trying do one or two things than throw the whole system out? Because the politicians in both parties are clueless and corrupt.
If Obama has offered tort reform in return for two or three things he would have gotten a bill done.
We are screwed.

Offline skeebo1969

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Re: The State of the Union
« Reply #13 on: January 28, 2010, 04:31:10 PM »


  I think once we get that high speed train seaspice mentioned everything else will fall into place.
I despise the song Love is in the Air, you should too.

Offline J.R.E.

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  • Posts: 6,962
  • Joined Dec-2003 Living positive, since 1985.
Re: The State of the Union
« Reply #14 on: January 28, 2010, 08:07:15 PM »

  I think once we get that high speed train seaspice mentioned everything else will fall into place.

Hardly !   :)   But, It will create 23,000 jobs over the period of about 4 years, and create 600 permanent jobs.

I'ts time to change jobs.  I wouldn't mind driving one of those trains !!   ;)


Ray
Current Meds ; Viramune, Epzicom, 40mg of simvastatin, 12.5mg of Hydrochlorothiazide.
Metoprolol tartrate 25mg



http://forums.poz.com/index.php?topic=40802.0

http://forums.poz.com/index.php?topic=45159.0

http://forums.poz.com/index.php?topic=39722.msg495621;topicseen#msg495621

http://forums.poz.com/index.php?topic=46806.0

http://forums.poz.com/index.php?topic=39414.msg491701#msg491701


 In October of 2003, My t-cell count was 16, Viral load was over 500,000, Percentage at that time was 5%. I started my first  HAART regimen  on October 24th,03.

 As of DEC 9th, 2013,  t-cells are at 437 Viral load  <40 .

 Current % is at 16% (L)

  
 62 years young.

Offline J.R.E.

  • Member
  • Posts: 6,962
  • Joined Dec-2003 Living positive, since 1985.
Re: The State of the Union
« Reply #15 on: January 28, 2010, 08:14:14 PM »


I"l be the old man with the pocket watch, yelling  "All Aboard"   :P


Ray
Current Meds ; Viramune, Epzicom, 40mg of simvastatin, 12.5mg of Hydrochlorothiazide.
Metoprolol tartrate 25mg



http://forums.poz.com/index.php?topic=40802.0

http://forums.poz.com/index.php?topic=45159.0

http://forums.poz.com/index.php?topic=39722.msg495621;topicseen#msg495621

http://forums.poz.com/index.php?topic=46806.0

http://forums.poz.com/index.php?topic=39414.msg491701#msg491701


 In October of 2003, My t-cell count was 16, Viral load was over 500,000, Percentage at that time was 5%. I started my first  HAART regimen  on October 24th,03.

 As of DEC 9th, 2013,  t-cells are at 437 Viral load  <40 .

 Current % is at 16% (L)

  
 62 years young.

Offline mecch

  • Member
  • Posts: 10,733
  • red pill? or blue pill?
Re: The State of the Union
« Reply #16 on: January 28, 2010, 08:27:26 PM »
I voted for him but am not happy with his ambivalent messages - should the Democrats just go ahead and put in place the policy that was on the platform we all voted for (universal healthcare, withdrawl from stupid wars, etc etc) YES YES - or waste yet another 9 months on bipartisanship that is just that, a colossal betrayal of a public mandate.  CHANGE CHANGE CHANGE.  where the f*ck is it???????
ďFrom each, according to his ability; to each, according to his needĒ 1875 K Marx

Offline RapidRod

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Re: The State of the Union
« Reply #17 on: January 28, 2010, 08:35:08 PM »
I voted for him but am not happy with his ambivalent messages - should the Democrats just go ahead and put in place the policy that was on the platform we all voted for (universal healthcare, withdrawl from stupid wars, etc etc) YES YES - or waste yet another 9 months on bipartisanship that is just that, a colossal betrayal of a public mandate.  CHANGE CHANGE CHANGE.  where the f*ck is it???????
Give it time it's changing.

Offline pozniceguy

  • Member
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  • Niceguy Dallas
Re: The State of the Union
« Reply #18 on: January 29, 2010, 03:07:45 PM »
 MissP... you are correct  I dont dislike the guy....he is personable, an obviously educated well spoken guy..... but the Prez job calls for some real toughness and some solid experience in getting things done....  he is a failure at both.....if he had been "elected to the congress ( either house) and earned some seniority/experience in doing the hard stuff he might have had a chance but he is heading down hill fast.... all the speeches to "the people"  wont get the job done...here or overseas

Nick
remember the good times...honor the past but don't live there
Le stelle la notte sono grandie luminose, nel cuore profondo del Texas

Offline Sera

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Re: The State of the Union
« Reply #19 on: January 29, 2010, 06:58:49 PM »
I agree with mecch. Republicans are not interested in bipartnership. Sadly a section of the population in this country is either naive or just stupid. Look at what happened in Massachusetts - one of the bluest states voting for a person who agrees with mitch and his clan  100% just to send a message! What message I ask? If you lost your job or house, how do you help yourself by voting for a party that was responsible for bringing the economy to it's knees and putting you in your predicament - beats me.

All in all Obama is good man and he is fighting the good fight.

Offline BT65

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Re: The State of the Union
« Reply #20 on: January 29, 2010, 07:16:08 PM »
..and yes even G Bush  who was willing to take the heat and  get it done....( whether you like the results or not)     

Yes, he got things done alright.  His press secretary, McClellan quit because of Bush's lies to get America into Iraq, and the outing of the CIA agent by Bush's administration.   Bush furthered the tear and divide between the parties.  He allowed Wall Street to go unregulated, allowing risky mortgages that almost lead to disaster and an almost depression.  He got things done alright. 

On another note, I was watching the CBS evening news, where Obama met with Republicans today.  He tried to reach across the isle.  Katie Couric asked Bob Schaffer if progress had been made.  He replied that he thought there was (progress), until, awhile after the meeting the Republican party came out with scathing reports about how Obama's talk was the "same old thing," etc.   Republicans just don't want to work with the President, nor the Democratic party unless they bow to the Repubs wants.
I've never killed anyone, but I frequently get satisfaction reading the obituary notices.-Clarence Darrow

Offline RapidRod

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Re: The State of the Union
« Reply #21 on: January 29, 2010, 07:24:46 PM »
There will be change.

Offline Miss Philicia

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Re: The State of the Union
« Reply #22 on: January 29, 2010, 07:40:46 PM »
Damn that inexperienced, socialist Kenyan Usurper!

source



The U.S. economy roared ahead in the final months of 2009, growing at its fastest rate in six years, as corporate America stopped slashing its inventories and again started to invest for the future.

Gross domestic product, the broadest measure of economic activity, rose at a 5.7 percent annual rate in the fourth quarter, the Commerce Department said Friday. That is the highest pace of growth since 2003, and it constitutes strong proof that the recession reached its end earlier in 2009. It was also a surprisingly positive result, well above the 4.6 percent rate of GDP growth forecasters had expected.
"Iíve slept with enough men to know that Iím not gay"

Offline frankt

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Re: The State of the Union
« Reply #23 on: January 30, 2010, 06:35:45 AM »
Bush and Republicans did try to regulate Fannie and Freddie early in the decade,9 times to be exact,but each time surrendered to Barney and Dems who called them racists,heartless and homophobes and the gutless Reps folded everytime. Sub Prime mortgages would never have existed without Fannie and Freddie buying them and backing them. The largest buyer of all fraudulent and subprime garbage of Countrywide was Fannie. Thus the Countrywide 6,6 Dem senators paid to look the other way.  In 1998 Buffett demanded a look at Fannies books and came away saying there was no way to make sense of them and that the derivatives they were trading were a financial nuclear weapon. CEO Franklin Raines was caught cooking the books in return for huge bonus. He is still not in prison. Rahm Emanuel was on BOD of Freddie when Dems were looting it. In the end,the government forcing banks to make home loans to people who could not fog a mirror was criminal,yet Barney and Dodd the two people most responsible are still in charge.
Bush was in camp with Dems on home philosophy in general,believing everyone should own a home. Idiocy. But he did try to regulate Fannie and Freddie.
Bushes SEC did allow Wall Street investment banksto raise their margin best from 10 to 1 to 30 to 1,much of this was based on the supposed safety of home prices and mortgages. Of course the government via Fannie and Freddie had corrupted this entire system and we all paid for our corrupt and irresponsible Congress.
Obama despite all of his BS has not tried to reach acorss the aisle on health care. He left everything to Pelosi and Ried. If Obama was really concerned about Health Care he would simply offer any kind of tort reform and he would get a deal. He has offered nothing to republicans but words.
The only way to repeat the most recent GDP is more stimulus. That is more money out of thin air. Buy Gold,Canned Goods and Guns. We are screwed.

Offline Dachshund

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Re: The State of the Union
« Reply #24 on: January 30, 2010, 06:47:30 AM »
Bush and Republicans did try to regulate Fannie and Freddie early in the decade,9 times to be exact,but each time surrendered to Barney and Dems who called them racists,heartless and homophobes and the gutless Reps folded everytime. Sub Prime mortgages would never have existed without Fannie and Freddie buying them and backing them. The largest buyer of all fraudulent and subprime garbage of Countrywide was Fannie. Thus the Countrywide 6,6 Dem senators paid to look the other way.  In 1998 Buffett demanded a look at Fannies books and came away saying there was no way to make sense of them and that the derivatives they were trading were a financial nuclear weapon. CEO Franklin Raines was caught cooking the books in return for huge bonus. He is still not in prison. Rahm Emanuel was on BOD of Freddie when Dems were looting it. In the end,the government forcing banks to make home loans to people who could not fog a mirror was criminal,yet Barney and Dodd the two people most responsible are still in charge.
Bush was in camp with Dems on home philosophy in general,believing everyone should own a home. Idiocy. But he did try to regulate Fannie and Freddie.
Bushes SEC did allow Wall Street investment banksto raise their margin best from 10 to 1 to 30 to 1,much of this was based on the supposed safety of home prices and mortgages. Of course the government via Fannie and Freddie had corrupted this entire system and we all paid for our corrupt and irresponsible Congress.
Obama despite all of his BS has not tried to reach acorss the aisle on health care. He left everything to Pelosi and Ried. If Obama was really concerned about Health Care he would simply offer any kind of tort reform and he would get a deal. He has offered nothing to republicans but words.
The only way to repeat the most recent GDP is more stimulus. That is more money out of thin air. Buy Gold,Canned Goods and Guns. We are screwed.

You remind me of this guy named Jake.

Offline RapidRod

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Re: The State of the Union
« Reply #25 on: January 30, 2010, 07:32:24 AM »
Everyone be patient there "Will" be a change.

Offline skeebo1969

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Re: The State of the Union
« Reply #26 on: January 30, 2010, 08:10:14 AM »
Everyone be patient there "Will" be a change.

You're sounding like:

http://www.youtube.com/watch?v=SQU4torUz-Q
I despise the song Love is in the Air, you should too.

Offline mecch

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  • red pill? or blue pill?
Re: The State of the Union
« Reply #27 on: January 30, 2010, 08:51:10 AM »
Check out the brilliant professor Obama against all that Republican "boiler plate".  HAHAHA ok i have confidence again!
http://www.whitehouse.gov/photos-and-video/video/president-obama-takes-questions-gop-house-issues-conference

And I love that they showed themselves so stupid an the Democratic White House gets to post his video on its own site!  I guess that is change
ďFrom each, according to his ability; to each, according to his needĒ 1875 K Marx

Offline Dachshund

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Re: The State of the Union
« Reply #28 on: January 30, 2010, 09:04:55 AM »
You're sounding like:

http://www.youtube.com/watch?v=SQU4torUz-Q

Oh that kind of change. I just assumed paraphilic infantilism with a deep seated anal or oral fixation rooted in harsh toilet training. Either that or a bad case of diaper rash. ;D















[attachment deleted by admin]
« Last Edit: January 30, 2010, 10:30:52 AM by Dachshund »

Offline Assurbanipal

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Re: The State of the Union
« Reply #29 on: January 30, 2010, 10:17:34 AM »
...CEO Franklin Raines was caught cooking the books in return for huge bonus. He is still not in prison. Rahm Emanuel was on BOD of Freddie when Dems were looting it. ...
.
Bushes SEC did allow Wall Street investment banksto raise their margin best from 10 to 1 to 30 to 1,much of this was based on the supposed safety of home prices and mortgages. ...

 "Target rich environment" but just to take on these two:

1) Franklin Raines presents a really interesting case.  Basically the government charges boil down to an argument that he took steps to reduce the volatility in the financial numbers and that in doing so he was too slow to report profits.  The government case acknowledges that Fannie Mae's reported earnings per share (which triggered his bonus) should have been higher!

So it is not that he made up profits or income -- rather that Fannie Mae did not record every bit of the income it "should have" under the accounting rules.  Stepping back a pace or two, do we really want to jail CEO's for what could be argued is overly cautious reporting of profits?
http://fl1.findlaw.com/news.findlaw.com/usatoday/docs/employ/raines121806charges.pdf

2) Bush's SEC also ignored Bernie Madoff, his department of Labor ignored wage, OSHA and benefit program violations and Bush generally was an extraordinarily weak prosecutor of existing law set up to protect investors, consumers and workers.  The new administration has said, with some justification, that the change in Administration does not simply mean a new sheriff in town, but that there is now a sheriff (at all).
5/06 VL 1M+, CD4 22, 5% , pneumonia, thrush -- O2 support 2 months, 6/06 +Kaletra/Truvada
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Offline RapidRod

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Re: The State of the Union
« Reply #30 on: January 30, 2010, 11:42:48 AM »

 


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