Pay-Off

I’m not surprised that the administration has decided to bail out European banks. Europe still sees Obama as the bright, young articulate; noble descendant of slaves who has come (back) to exact his revenge. They don’t yet see him as the radical bomb thrower - too lazy to do his homework - most of us have now come to know.

European bankers are not stupid. They know exactly that the whole financial mess started in the U.S. with the housing crisis; which in turn affected bank balance sheets; which then caused bankers to spread the damage around by disseminating toxic IOU’s all over the world - including Europe - hoping that no one would notice.

European bankers are not lapdogs of the American government. They are free to speak out and expose certain truths, especially in regard to who might have been involved in the initial fraud; and they could name the names of the corrupt institutions (Fannie and Freddie) and politicians (Frank and Dodd among many others) who perpetuated and protected these schemes to their own advantage. These have not gone away and crawled under rocks in abject shame. They are still with us and, in many instances, still formulating policies that rob the American worker of the fruit of his labors - all, in name of some half-baked anti-capitalist notion of ‘social justice‘.

Our paying off the Europeans amounts to a tacit admission that none of it has worked as advertised; that we were essentially at fault for having promoted such claptrap under questionable guise. We are paying them off to buy their continued silence and thus save the skins of our guilty. If they (European bankers) were to talk, the revelations would put even Wikileaks to shame.

The global financial meltdown (which we started) can no longer be blamed on capitalism alone. Socialist and communist countries have not been immune. I am not one to blame America at the drop of a hat, but this has been our fault from the start. If we are to apologize for anything, this is it; if we are on the hook for reparations, this is it. If we should not be able to afford the cost of making amends, or if there is a political price to pay, so be it. What we have done to get this slime ball rolling is criminal - entirely worthy of Interpol investigation and subsequent World Court proceeding - and the Europeans are well aware of it. And we know that they know.

http://pkoelliker.blogspot.com/

The Rape of Capitalism Continues

If people like Olympia Snowe end up bolting the Obama health care plan, it would deny him attaching the ‘bi-partisan’ label to any legislation that might pass – even while the hallowed moniker would likely attach to its opposition. This would clearly demonstrate the shallowness of support for anything Obama might claim as a victory.

Progressives would be locked into a defensive stance so severe that any future legislative thrust would suffer an equally difficult uphill slog. Time for a crisis (manufactured or otherwise) to move the agenda. But even that card has been played now too often. People no longer believe any pronouncement coming out of Washington.

I happened to catch the speech Obama gave yesterday in New York. He seemed tired; off his game; trying to inspire, but falling way short. There was polite applause, but little enthusiasm.

Not that Obama needs enthusiasm to get what he wants. He is POTUS, after all. He has control of the House and Senate. No one is in a position to question his stated support for the likes of Barney Frank and Chris Dodd and others he has put in place to continue the rape of capitalism.

Still, it is now clear that Obama will not reach the moon. Though promises have been made to his radical fringe, these cannot be kept. Should he try, the prospect of impeachment would likely emerge. I do not claim that it will run to its logical conclusion, but such proceedings would definitely serve to slow the Left’s advance. It would virtually guarantee a one-term presidency for Obama and with it the Left’s momentum would dissipate.

Barring Obama’s resorting to fascist methods, this is what we can expect: merely a partially wounded nation that with competent leadership may yet recover.