Op Ed: 'Miracle of Markets' Myth Manipulates U.S. Money System

(EUGENE, Ore.) - Remember that messianic line: “Greed is good!”? It came from Ronald Reagan Himself, the “It’s Morning Again in America” actor, playing his now-notorious role as our American President.

Don’t forget the rest of the routine. He never did: “Government IS the problem. It NEVER does anything right.”

His other major pitch was “the miracle of markets” declaring “free trade”-markets “make automatic always-right decisions” on every issue imaginable.

John McCain echoes the Bush II neocon cabal in every respect, on the same now-collapsed economic mythology.

We are now learning --the very-hard, extremely costly, painfully-punishing way-- how wrong Reagan was on those mythical mind-messages. Millions now know how damaging they can be to their chances to achieve The American Dream for themselves and their families.

McCain promises economic miracles via system reform, knowing voter support hangs desperately on everyday dollar-problems now plaguing and punishing millions of American families.

Yet he helped build the system all those years, and is surely complicit in its failings.

He could and should have learned --unforgettably--from those early days: Remember the savings-and-loan/bank lesson, taught us early-on by “the Keating Five”?

“Them as broke it, sure as hell ain’t gonna be able to fix it! IF they knew enough, they wouldna break it!” But they kept right on “breaking it” --all these years.

In a now-regretted moment of loose-lipped candor, John McCain admitted economics --and our economy-- is not his strong point.

If he does not understand the system, how can he honestly offer to remedy it now?

How Right he has proven himself is now on public record --resoundingly so, days ago-- when he proclaimed the collapsing system “fundamentally sound.”

That was the very day Wall Street’s recurring rot-and-wrack, recorded in repetitive bubble/blow-ups, racked up 100-year very-fearful records.

Reagan set into train Iran/Contra, the real root of the Bush II preemptive attack on Iraq. (See neocon Project for the New American Century.)

That “unnecessary war” has already cost this nation THREE TRILLION dollars and become “unsustainable”, as our economy now reflects all too clearly.

John McCain promises he will continue in Iraq “until victory” --without defining that moment-- for 100 years if needed. That surely will NOT “fix the economy.”

Meanwhile Iraq patriots negotiate far more rapid withdrawal, demanding return of democratic control, promised by Bush et al.

Millions realize what we COULD, and SHOULD, have accomplished at home with those TRILLIONS LOST ALREADY. (Multiple media-feature reports localizing dollar-impacts for schools, teachers, hospitals, roads, fire, police, healthcare and many other essential needs have become a journalistic cliche-piece!)

Connections with our economy are obvious: These “negative events” followed when Reagan distorted deregulation, perverted privatization, promoted corporate-centered globalization, and provided huge-budget militarism. He brutally savaged our Constitutional “right of-association”, mounted in widespread union development. His rapid, radical, continuing attack was pattern and forerunner for current intense corporate warfare.

Millions more now realize where the sweeping flood of home foreclosures was triggered --and why, too. That flood is fundamentally forcing looming ruin of the entire finance system.

Temporary rotting-mortgage buyout will cost us another TRILLION, Congress is told: Put it up fast or face a return to Real Depression!

Many reviewing legislative record find cause right in Congressional action by McCain’s main-man re economy and regulation, former Sen. Phil Gramm.

Gramm lead the charge to dismount, disable and do away with the Glass-Seagal Act, strongest economic heritage from Real Depression-recovery days.

That came by covert back-room manipulation, reflecting later neocon falsified intelligence; sold to the American public by crass “marketing maneuvers.”

Glass-Seagle mandated simple-sense solid-separation between commercial banks serving citizen and small-business needs, and “investment” (!) banks operating as speculation specialists.

The first preserves, protects and provides practical working funds for common-Joe, Mrs. Joe and their kids,while the other practices high-dollar game-playing for speculators demanding rapid rapacities.

Most recently Gramm accused us all of being “a nation of whiners”, suffering from “mental recession”. Economic collapse is all in our heads, sayeth he.

He was McCain’s first choice to be Treasury Secretary. But we can prevent that: No McCain, No Phil Gramm.

U.S. foreign policy was forever altered by Reagan’s Iran /Contra initiative, despite direct Congressional action forbidding what he chose to do anyhow.

What followed led on into neocon “regime change” (not first nor only in Iraq!), “American-interest empire building”, and faulty “supply-side” funding --driven by very large tax-slashes, heavily wealthy-group/oriented.

That pattern then forced then-largest/ever national budget deficits and record national debt-formation.

Sound familiar? Seems reminiscent of the past eight Bush/neocon-cabal years? Perhaps you recall those Reagan years, now looking somewhat different than they were made to seem?

“Experience in foreign policy” has become a demanding component for understanding and guiding what America must do, in these early 21t Century years.

SO McCain has Randy Schuenemann, lushly-paid lobbyist serving world’s-worst dictators, “advising” McCain. SO why insult Spain’s friendly government --just maligned “off-the-cuff” by John.

Randy now “supplements” newly-named V/P prospect Palin, qualified by her long-distance view across Alaskan waters “right into Russia!” THAT is real insight?

Schuenemann is an original signer of the Project for the New American Century proposal, pressured on President Clinton --but summarily refused.

That’s Bush I-and-neocon-cabal advance-plan for preemptive Bush II-and-neocon cabal Iraq-attack.

“Unsustainable, unnecessary war” now disembowels our Treasury and economy --reflecting unmistakable, unavoidable close-connection among American governance policies.

It is caused by realizing complicity for complaisancies --as we all MUST, now. It’s OUR nation --and we let this happen to it AND us.

That’s happening with many millions of Americans. They are looking back over the past four decades --then listening, reading AND learning!

Then they will DECIDE for THEMSELVES --and the most essential interests of their families.

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Percy October 6, 2008 11:26 am (Pacific time)

Henry et al Sen. Biden made incredible gaffes during the dabate, especially in his interpretation of the duties of the VP in the Constitution (totally the opposite) and he also said we joined with France and kicked out Hezzbolah (sp.?) from Lebanon (Huh? what planet did that happen on?!). Below is a brief list of just a few mistruths and the the MSM has given him a complete pass as did Couric did with his irrational statement about FDR going on national television in 1929 to discuss the Depression. Geesh! 1. TAX VOTE: Biden said McCain voted “the exact same way” as Obama to increase taxes on Americans earning just $42,000, but McCain DID NOT VOTE THAT WAY. 2. AHMEDINIJAD MEETING: Joe Biden lied when he said that Barack Obama never said that he would sit down unconditionally with Mahmoud Ahmedinijad of Iran. Barack Obama did say specifically, and Joe Biden attacked him for it. 3. OFFSHORE OIL DRILLING: Biden said, “Drill we must.” But Biden has opposed offshore drilling and even compared offshore drilling to “raping” the Outer Continental Shelf.” Note: Biden voted against the Alaska Pipeline back in the 1970's! 4. TROOP FUNDING: Joe Biden lied when he indicated that John McCain and Barack Obama voted the same way against funding the troops in the field. John McCain opposed a bill that included a timeline, that the President of the United States had already said he would veto regardless of it’s passage. 5. OPPOSING CLEAN COAL: Biden says he’s always been for clean coal, but he just told a voter that he is against clean coal and any new coal plants in America and has a record of voting against clean coal and coal in the U.S. Senate. 6. ALERNATIVE ENERGY VOTES: According to FactCheck.org, Biden is exaggerating and overstating John McCain’s record voting for alternative energy when he says he voted against it 23 times. 7. HEALTH INSURANCE: Biden falsely said McCain will raise taxes on people's health insurance coverage -- they get a tax credit to offset any tax hike. Independent fact checkers have confirmed this attack is false 8. OIL TAXES: Biden falsely said Palin supported a windfall profits tax in Alaska -- she reformed the state tax and revenue system, it's not a windfall profits tax. 9. AFGHANISTAN / GEN. MCKIERNAN COMMENTS: Biden said that top military commander in Iraq said the principles of the surge could not be applied to Afghanistan, but the commander of NATO's International Security Assistance Force Gen. David D. McKiernan said that there were principles of the surge strategy, including working with tribes, that could be applied in Afghanistan. 10. REGULATION: Biden falsely said McCain weakened regulation -- he actually called for more regulation on Fannie and Freddie. 11. IRAQ: When Joe Biden lied when he said that John McCain was “dead wrong on Iraq”, because Joe Biden shared the same vote to authorize the war and differed on the surge strategy where they John McCain has been proven right. 12. TAX INCREASES: Biden said Americans earning less than $250,000 wouldn’t see higher taxes, but the Obama-Biden tax plan would raise taxes on individuals making $200,000 or more. 13. BAILOUT: Biden said the economic rescue legislation matches the four principles that Obama laid out, but in reality it doesn’t meet two of the four principles that Obama outlined on Sept. 19, which were that it include an emergency economic stimulus package, and that it be part of “part of a globally coordinated effort with our partners in the G-20.” 14. REAGAN TAX RATES: Biden is wrong in saying that under Obama, Americans won't pay any more in taxes then they did under Reagan.

Henry Ruark October 6, 2008 8:55 am (Pacific time)

You wanna play that game ? Okay: A List of McCain's Nastiest Moments By Melissa McEwan, Shakesville Printed on October 6, 2008 http://www.alternet.org/bloggers/http://shakespearessister.blogspot.com/101204/ Earlier today, a commenter asked if John McCain is "truly as nasty and belligerent as he appears to be." Is he really that bad--or is it just one of those partisan memes that develops about an opponent? I'm guessing he isn't the only Shaker with that question, and, since detailing McCain's long list of objectionable qualities has been what one might call a specialty of mine since the inception of this blog back in '04, I figured I'd put together a little collection of Punk McNasty's Greatest Hits to answer that question and for handy-dandy reference. ----------------- Please note we did NOT show any of the long-list from this source, surely as reliable as those listed by others. That leaves open your own assessment via "see with own eyes" and own mind. BUT I did check out whole list and recommend you do so, too.

Henry Ruark October 5, 2008 7:56 pm (Pacific time)

R.M.: Appreciate your interest in professional prep. for jrnslm, but here can judge for self on face to face int'vw. No question on that basis, Palin made bad impression. Re allathat about how Couric got job, may or may not be true but will not affect her shot on air. That you see and react to without knowledge of allathat, making it irrelevant for viewer. For me she does well. Re CBS what you say shows more problems with CBS mgmnt than with Couric, which has been decades long CBS failings, as demo'd many times before which is why ratings are as they are. Re jrnslm bgrnd for Palin, okay, helps her in public but not necessarily policy, politics or plain old common sense, courtesy and care for others. Re degree in ANY prep., means only what the person makes it mean afterwards. Have known some atrocious both with and without, and some damned good without... For the record, I was filing NELoop for UPI, with nary a day in jrnlsm school but some years working as reporter, editor anyhow; when John Scali joined us fresh from Boston U. He had melliflous voice but could not folo UPI style for damn, and went on soon to radio where he reached national fame. Later I did 3yrs at IU on Ed.D.with special courses also in Ernie Pyle Jrnlsm school. Great experience, great people, but I learned more from Hank Minott at UPI in first year.

Henry Ruark October 5, 2008 8:35 am (Pacific time)

To all: Despite heay flow of comments here, on re-read see NONE that deny or rebut the basic facts stated in the Op Ed itself. For anyone wishing to make case vs any or all of these factual points-displayed, this is, again, an invitation to do your OWN Op Ed, simply by ID to Editor and "tell it like you can prove it is."

Rich Millison October 5, 2008 8:26 am (Pacific time)

Henry et al thank you for your comments regarding Couric's interview of Gov. Palin. I saw another "one on one" interview last friday that was done by a professional journalist that addressed the above Couric interview of Palin and the Alaska governor certainly cleared up many issues for me, she is a highly competent individual. That just goes to show what happens when a real pro gets involved. Are you familiar with Couric's resume? She has no academic credentials in Journalism (Her degree is in American Studies, but she was on the rally squad), and other than doing a morning tabloid show, has no demonstrated professional experience as so many others out there do. Her position at CBS was a stab at increasing a failing market share, which has continued to go down with Couric's presence. How did she get her job? Is it because her mother has an Israeli citizenship (which means she does also) and her bosses also have Israeli citizenships, and they all have provided considerable financial support to Obama? (As per the FEC). IRONICALLY: Governor Palin has a degree in Journalism and actually worked as a paid reporter. As you know Henry: According to the Society of Professional Journalists (SPJ): "Journalists should: Avoid conflicts of interest, real or perceived. Remain free of associations and activities that may compromise integrity or damage credibility." Are you familiar with the large list of misinformation put out by Biden during the debate? It's absolutely remarkable. Thank you for your civil responses, I realize how tense emotions get during these political times that's why it's so important to be as objective as possible.

Henry Clay Ruark October 4, 2008 9:51 am (Pacific time)

R.M. et al: Conversation, as in dialog here, is extremely different than debate. Your last several Comments stress either ignorance or intentional disregard of what cognitive science/linguistics has taught us in last decades. SO this one by Steven Pinker, famed cog./sc./linguist, may help you to correct the first or force you to discard the second. He goes into painful detail deeper in this special report: www.nytimes.com Everything You Heard Is Wrong By STEVEN PINKER SINCE the vice presidential debate on Thursday night, two opposing myths have quickly taken hold about Gov. Sarah Palin of Alaska. The first, advanced by her supporters, is that she made it through a gantlet of fire; the second, embraced by her detractors, is that her speaking style betrays her naïveté. Both are wrong. Let’s take the first myth: Governor Palin subjected herself to the most demanding test possible — a televised debate. By surviving, she won. As the front page of The Daily News of New York screamed this morning, “No Baked Alaska.” But as a test of clear thinking, the debate format was far less demanding than a face-to-face interview — the kind Ms. Palin had with Katie Couric of CBS. --------------

Henry Clay Ruark October 3, 2008 11:38 am (Pacific time)

To all: Here's Der Spiegel link: www.spiegel.de/international/world/0,1518,581502,00.html

Henry Ruark October 3, 2008 10:23 am (Pacific time)

R.M. et al: REAL change cannot occur now without mandate from people. By definition that demands full attention to politics now to guarantee government "of the people,for the people, by the people." That's what's now happening, friend R.M., as before in this nation a number of times. Truth is sometimes hard to swallow for some, captured in outmoded concepts, entranced by the labels and the noise machines, unable to see beyond the day. But changing 21st Century world conditions demand 21st Century governance with new, different and demanding protocol, procedures and "people presence" multiplied over what has been failing in the near past. Sorry, R.M. -- just swallow a bit harder re third-term, may become voter's choice. Re Soros, when you pile up the same mountain of billions and present much of it to the rest of the world, let us know. French "felony ?" How about American ditto, for many we can name ? Might start with Paulson and killing off major competitor-firm in convulsions over this ill-conceived huge bailout... Where do YOU stand on that ? Do we "go" with it, or NOT ? Might consider Op Ed to lay out your thinking re a really relevant issue.

Rich Millison October 2, 2008 10:15 am (Pacific time)

Politics has made America ripe for the taking, and the
"change" is happening right before our very eyes.

In this election we risk losing the very foundations of our Country.

Castro brought Change to Cuba in 1959. Chavez brought change to Venezualea in 1998.

Both rewrote their constitutions claiming national crisis, and national concensus. Please note how far left radical (best buds with Soros) New York mayor Bloomberg is also bringing change to term limits, he use to be for them until he tasted power. Do not let the inexperienced have power. Vote intelligently, not emotionally!

-----------------------------------------------------------UPDATE-------------------------------------------------------------

Editor: The individual submitting this comment seemed familiar, so I checked the log on his/her IP and discovered that he or she has used a number of different names in recent months in an apparent effort to make it appear that his/her points, generally racist and intolerant in nature, are supported. This is the list of names:

Dylan Duke, JB Stallworth, Deb Myerson, War Veteran, Rich Millison, WV, Percy, Delaware, Del, Carlson, Real Democrat, Retired Military, Sourced, LH, Going Broke, Len Hannoford, Oregon Veteran, Telford, Humos, Eternal Optimist, Scazry Times, Capitalist, Ronan, Brian, Wonder, Steve, Gomer, Casse, Ben Jammin', Jason Burbach, Kevin, JB, Kilroy, Carol Ann, Sgt. Rock, Abdul Farqua, Wally, Change, Micro/Macro, Booker T Washington, Stewart, Kyle, Pragmatic, Teacher Veteran, ex-government employee, Ayers Weatherman, Fido, Real Combat Vet, Mary Stennis, Proud Schwab Investor, Bullfrog, Hopefully, Update, Fed Up

I almost feel like I should apologize for this going on so long, and now those of us who spend time around here know that the number of people who voice extreme positions regarding right wing politics on Salem-News.com are not as strong in number as they appear. This individual who uses male and female names to launch frequently ridiculous attacks on myself, Henry Ruark, Professor Stephen Zunes, Dr. Phillip Leveque, etc., is nothing more than a disturbed poser who writes comments, then writes back to herself or himself, representing several people instead of just one. I would write off anything ever posted here under those names, or by anyone who resembles the ramblings left by this individual.

Tim King

Henry Clay Ruark October 2, 2008 9:06 am (Pacific time)

To all: Here's relevant "see with own eyes" link for debate tonight: October 2, 2008 Op-Ed Contributors Questions for the Next Vice President By CRAIG FULLER, ANDREW SULLIVAN, RADLEY BALKO, MIKE DOOGAN, JEFFREY GOLDBERG, JACK F. MATLOCK Jr. , GENE HEALY, PETER MAASS, PETER W. GALBRAITH, ERIC WASSERSTROM, and RACHEL KLEINFELD www.nytimes.com Tonight, Senator Joe Biden of Delaware and Gov. Sarah Palin of Alaska will meet in the one and only vice presidential debate of the 2008 campaign. The Op-Ed editors asked people with knowledge of the vice presidency, the candidates and their records to suggest questions they’d like to hear answered from the stage at Washington University in St. Louis this evening. ------------------- Link-only:CHECK for questions!

Henry Ruark October 1, 2008 8:50 pm (Pacific time)

Percy: Again I note continuing unseemly, unsupported whining a la Gramm, but never any objective sharing of content, supported by links for facts strengthening your wails and wild wonderings.

Percy Sanchez October 1, 2008 6:22 pm (Pacific time)

Thanks for your concern Julie, but I'm quite solid in all area's of my life. In 1987 during to 22.8% drop in the stock market I lost quite a bit, but knew that boom and bust cycles are just that, cycles. Even now just waiting this out would be the best thing but because it is an election year the democrats with the help of a minority of republicans are going to make things far worse in the not to distant future. Well back to some comfort food. Thanks again for your concern Julie, and may your future be full of wonder by learning new things about the real "reality."

Julie October 1, 2008 5:30 pm (Pacific time)

Poooooor Percy. This is hard on your psyche isn't it? Responsibility! I hope all your blaming makes you feel better. It's kind of hard to watch you in your turmoil.

Percy October 1, 2008 2:31 pm (Pacific time)

Pelosi blew it. How about the recent news that she has paid her husbands "Real Estate" firm over $100,000 out of her PAC funds? And she has been campaigning for several years not to let family get on the payroll! She and Barney Frank along with Sen. Chris Dodd should just pack it in and retire. They are the problem. The evidence is irrefutable. Maybe you could show one legislative act by the republicans that they were the cause of this financial disaster (and they alone)? You just don't have the evidence. Either the dems legislated faulty bills and/or blocked oversight programs by filibuster or other legislative techniques. It is well established beyond a reasonable doubt that the democrats "over-regulation" caused this problem by compelling banks to ignore prudent business practices and issue loans/mortgages to uncreditworthy people by developing the subprime market (52% forclosure rate) in another of their failed affirmative action policies.

Henry Clay Ruark October 1, 2008 11:41 am (Pacific time)

P.S. et al:
Re: yours previously on vote-deal for bailout, now develops Boehner promised 80-90 GOP YES votes, delivered far fewer: 66.

He knew failure well ahead of time, and could have come clean with Pelosi, allowing her to postpone vote, with less impact on markets than actual defeating-vote. No question GOP double/crossed Pelosi; her rant cost a few additional, but not now seen as real determining factor.

Henry Ruark October 1, 2008 8:40 am (Pacific time)

Percy: Sorry if you are feeling neglected, friend Percy. Didn't want to appear either persecuting or prosecuting you. Re response to links, still driven by necessity to write for money here, so cannot always provide free LMA time. Figure you getting what yours are worth, for your nickel. Re "informed", those of yours I did check seem to indicate we need to hear from you in detail and with full ID via Op Ed --which we have offered to you numerous times,sincerely. SO take your shot, detailed and with documentation, any time, as Op Ed. Will respond in depth, detail AND links. OR direct --your choice--with ID to Editor, only fair since mine on full public record. Don't be Gramm-style "whiner" when you can be open-style writer.

Percy September 30, 2008 9:44 pm (Pacific time)

Henry et al--my comment are essentially highly informed opinions and I provide links for those statements that are appropriate and/or requested. This I have done for you repeatedly and mostly you have failed to respond.

Henry Ruark September 30, 2008 7:27 pm (Pacific time)

P.S.: Politics is politics, and some boys and/or girls play the game the way they wish. Don't expect me to justify for either side. Re "rant",already agreed on that. Re WHO did WHAT to get votes, either side, that is more likely to be by corporate contribution now than by strict party allegiance. The day of party control is long gone, as GOP-side itself admitted (on tv, by leader statement --or was he lying for impact ?) Re resume, bgrnd important part of credibility here. You sound a bit defensive, and we still know you NOT by any real measure. Name means nothing without bckup; mine on public access --where's yours ? If you can, why not show it ? Reassures those who need to know, on basis of trust, full responsibility, accountability to build real credibility. Veiled allusions to "sources" no substitute for "see with own eyes" links to reputed, tested, checkable nationals. OR you can always ID to Editor and thus qualify for own Op Ed for detailed statement, with own supporting national links, too.

Percy Sanchez September 30, 2008 6:16 pm (Pacific time)

Henry no doubt your past stories impress and I am thrilled you are able to please yourself with your oft repeated resume. As I am sure you know, Pelosi allowed many of her democratic party members to vote no on this bailout bill, because of election vulnerbilities, rather than doing what they thought(?) was best. There were two dem. rep's from Obama's neck of the woods from Chicago, including Jesse Jackson Jr. who voted no (Did McCain influence their vote?). Also several committee heads like veterans affairs for example, voted no. The demo's have the majority, so why did Pelosi allow "NINETY-FIVE" (95) members of her party to vote no? They only needed 12 more to pass the bill. My sources told me that it was common knowledge that the republicans were pretty well set on how they were going to vote by last Saturday. So here comes Pelosi with her "rant" before the vote (the rant had negligible effect on the republican vote), and then later Barney Frank blaming the republicans for the failed vote. They knew it would fail Henry. So did you see the market go up around 500 points today? Probably tank tomorrow (recall the market went down over 22% in Oct. 1987, and it was down 7% the other day), but we have to quit bailing out those who fail because of bad business practices, especially those who issued all those subprime loans. They should have ignored people like Schumer, et al.

Henry Ruark September 30, 2008 4:08 pm (Pacific time)

To all: P. wrote: "as per the bailout vote, as you know the party whips knew what the vote count was before the vote, so Pelosi's rant was a simple distraction which the msm knows, but they are controlled by just a handfull of people best decribed as Soros-like." "Not necessarily so" re vote count by party leaders as any person working a legislature can affirm for you. Example: NDEA bill was counted at certain majority, actually drew some 50-more, surprising not only party leaders but those of us who helped write it. I know; I was there. Have you ever had that same kind and level of experience ? If so, cite it as part of your missing-ID OR in writer info for your first OP Ed !! Same is true for GI Bill, too; you can check it out. Cited GI/NDEA as easy for you to check. Re Palosi, best word there was delivered by her party voting as they damn pleased. Again if you wished to be accurate you could have checked what she stated it would be vs what actually occurred; always available in Congressional records, if you know where to access them. Re Soros, any time YOU put up billions for others and for democratic foundations around the world, we will gladly then listen to your proven-insightful fiscal suggestions with somewhat more credibility than you now enjoy here.

Percy September 30, 2008 2:10 pm (Pacific time)

Henry et al, some political entities have been ignoring the recent Supreme Court ruling on the 2nd Amendment, e.g. , Washington DC and Chicago, just like some elected officals in Missouri are ignoring their rulings on the 1st Amendment. Regardless of these intensely blue radical locations, the 1st Amendment is still in jeopardy because of Obama's "Truthsquads". If Oregon was a battleground state people then you would be hearing about these "truthsquads" now, but if Obama is elected, then you will have a more close up and personal interaction with them, I assure you of that. You will not be pleased. Henry as per the bailout vote, as you know the party whips knew what the vote count was before the vote, so Pelosi's rant was a simple distraction which the msm knows, but they are controlled by just a handfull of people best decribed as Soros-like.

Henry Ruark September 30, 2008 10:28 am (Pacific time)

To all and Glen: I make it habit to check out Comments on all Op Eds, for the learning opportunities thus presented. Yours re S/Security invested in Wall St.now becomes much more meaningful after the past week of debacle and desertion of principle by both parties. Comments, to me, in no way alter or rebut main points made in the Op Ed. So, just perhaps, it may be that learning is occurring for others, too, as for me.

Henry Ruark September 30, 2008 7:22 am (Pacific time)

To all: Left 2nd Amendment to this one purposely: Supremes recently ruled; so we simply obey the law. IF any further dissent, treat that as law requires, too. Constitutionality depends on Supremes; open to further change,which must be pursued Constitutionally, too. Last shot, so to speak, has not yet been fired. Own view not involved here, simply reporting facts.

Henry Ruark September 30, 2008 7:17 am (Pacific time)

P. et al:
Links in question go to the state sources and state laws making the charge.
That hardly proves the charge, only legal citation used, a standard PR-ploy.

Other national source links turned up similar O-campaign rebuttal to NRA ad, which is still not mentioned or disclosed in yours. WHY not even-a-trace reaction at national level ?
WHY no such charges-traded by campaign spokespersons ?
WHY does validity of original report mean so much, for you, in whole context of campaign ?

Percy September 29, 2008 6:47 pm (Pacific time)

Henry as anyone will immediately find out the below links that this has nothing to do with the NRA. By the way are you displeased with those who advocate for protecting the 2nd Amendment? How many gun owners in America? This issue is even more of a 3rd rail than social security. At any rate if you looked at the links and still pursue this NRA distraction it should be clear to even the most casual observer. Hopefully your response to this post will be that you did go see for yourself and will acknowledge that this is a serious threat to the 1st Amendment.

Vic September 29, 2008 6:18 pm (Pacific time)

Hankster...the Roosevelt quote is right on...!

Henry Ruark September 29, 2008 1:08 pm (Pacific time)

Percy: OF COURSE the links give the same story --so what would you expect ? I note you do NOT share any of those you "checked"; and mine own search so far turns up only ref. to NRA-ad, which you continue to ignore. IF you did find other sources, please now share them and also state if there is ref. to the NRA-ad as root of controversy. Very fact of nothing in msm shows doubt about validity of story, NOT necessarily any try at suppression which is no longer possible given Internet as we now using it. BUT will hazard suggestion the furor will turn out to be rash attack/defense by rabid political forces within MI,and other states where O. may well have sought enforcement of law vs provable distortion in NRA ad. IF "did happen", will only sharpen up same attack techniques already demonstrated by Bush et al, as in political assassinations of U.S. Attorneys-General and ongoing disruption of whole Justice agency. SO where's your links ? Do their stories pick up on NRA charges lawfully made by O campaign ?? Oh, yes --when do we see your Op Eds ?Invited now ten times, yet nothing offered or even any contact with Editor. WHY is that, in one so prolific recently ???

Percy September 29, 2008 12:37 pm (Pacific time)

These threats and intimidations by operatives in Missouri who happen to be elected law enforcement personnel is all over the cable news and internet. The MSM will eventually have to report it, and their "obvious" delay just provides more proof of their bias. I went to the links posted below and they take you directly to the evidence. Those who spin this evidence just display their myopic partisanship, and maybe something else also.

Henry Ruark September 29, 2008 10:22 am (Pacific time)

WV et al: You fail to state cause of MI conflict over O-campaign action. IS it, by any chance, the NRA ad to which O's campaign has sought lawful protection ? Several personal sources now report that to be the case, in MI, and starting in PA. IF you failed to disclose that key point, you have distorted your otherwise perhaps factual information shared here. SO let's hear it: IS the "infamous NRA ad" --as described by O's action seeking legal protection--at root of yours, or NOT ? IF so, you "jumping the gun" --no pun re NRA !"-- since a court action now underway will eventually, authortatatively, and, we can hope, Constitutionally settle the issue.

Anonymous September 29, 2008 9:09 am (Pacific time)

WV: Will add your links to checkout now underway via personal contacts in yr state, not responsive over weekend. Will seek further check direct to t-v there from some here. STILL find nothing in national sources re story-generally, and nothing on either website of campaigns, surely meat for their bigmouths-both !! SO suspect this may well be internal hit from reasons I mentioned; if NOT, surely both campaigns AND national channel sources will pick up, today, for sure. Your civil,informative and sharing participation welcome here, and we await further checkout on this one.

War Veteran September 28, 2008 11:33 am (Pacific time)

Henry et al your below comment on FDR and fascism is greatly overshadowed by the below that you will clearly see. Here is a direct link to the Missouri Governors "official" website. There is also a video TV station link. If there are some who could not locate this story via a simple research, then maybe your research process needs a tune-up. For those of you who are upset about FISA (Obama voted for it by the way), then the below should be infinitely worse for you, and it is. If the msm is suppressing this important story then what else are they suppressing? After this "financial bailout" has peaked then the below will become a significant story. This is the actual suppression of our 1st Amendment people, if they get away with it, it's over for our democracy. Ask yourself why would someone want to suppress the 1st Amendment? Stalin did, so did Hitler, Castro, and an almost endless list of very dangerous dictators. "FOR IMMEDIATE RELEASE Saturday, September 27, 2008 Gov. Blunt Statement on Obama Campaign’s Abusive Use of Missouri Law Enforcement lINK: http://governor.mo.gov/cgi-bin/coranto/viewnews.cgi?id=EkkkVFulkpOzXqGMajandstyle=Default+News+Styleandtmpl=newsitem This next link is from a Missouri television station that reports on this story with statements from some elected officials who acknowledge their disdain for the 1st Amendment. http://www.kmov.com/video/index.html?nvid=285793andshu=1 Food for thought: Governor Blunt's press release uses the specific words "using the power of the state to deprive Americans of their civil rights," "intimidation," and "silence political criticism with threats of prosecution and criminal punishment." Look up: TITLE 18 > PART I > CHAPTER 13 > § 241 Prev | Next § 241. Conspiracy against rights and TITLE 42 > CHAPTER 21 > SUBCHAPTER I > § 1985 Prev | Next § 1985. Conspiracy to interfere with civil rights

War Veteran September 28, 2008 10:42 am (Pacific time)

It was a horrible political stunt! "Barack Obama played the "me too" game during the Friday debates on September 26 after Senator John McCain mentioned that he was wearing a bracelet with the name of Cpl. Matthew Stanley, a resident of New Hampshire and a soldier that lost his life in Iraq in 2006. Obama said that he too had a bracelet. After fumbling and straining to remember the name, he revealed that his had the name of Sergeant Ryan David Jopek of Merrill, Wisconsin. Shockingly, however, Madison resident Brian Jopek, the father of Ryan Jopek, the young soldier who tragically lost his life to a roadside bomb in 2006, recently said on a Wisconsin Public Radio show that his family had asked Barack Obama to stop wearing the bracelet with his son's name on it. Yet Obama continues to do so despite the wishes of the family." The following link acknowledges the veracity of the above via father: http://www.newsbusters.org/blogs/warner-todd-huston/2008/09/28/family-told-obama-not-wear-soldier-sons-bracelet-where-media

Henry Clay Ruark September 28, 2008 8:12 am (Pacific time)

"The liberty of a democracy is not safe if the people tolerate the growth of private power to the point where it becomes stronger than the democratic state itself. That in its essence is fascism - ownership of government by an individual, by a group or any controlling private power." Franklin D. Roosevelt (1882-1945), 32nd US president

Henry Clay Ruark September 28, 2008 8:04 am (Pacific time)

To all: Here's "see with own eyes" Edit from NYTimes today 9/28. Please note that it documents every point made here in this and other Op Eds re infamous deregulation of the financial system: Editorial Don’t Blame the New Deal www.nytimes.com This year’s serial bailouts are proof of a colossal regulatory failure. But it is not “the system” that failed, as President Bush, Treasury Secretary Henry Paulson and others who are complicit in the calamity would like Americans to believe. People failed. For decades now, antiregulation disciples of the Reagan Revolution have eliminated vital laws, blocked the enactment of much-needed new regulations, or simply refused to exercise their legal authority. The regulatory system for banks, securities, commodities and insurance is unwieldy and in need of modernization. The system has gaps, like the absence of regulation for “innovations” such as credit default swaps, the insurance-like contracts now valued at $62 trillion whose destructive potential prompted the bailouts of Bear Stearns and the American International Group. ----------------- Every essential point is well covered in this Edit, left to your own evaluation when you check it. For check on what Op Eds stated, see Staff, use "Written by..." line for mine.

Henry Ruark September 27, 2008 6:55 pm (Pacific time)

To all: Further re WV-MI comment: No sign of such story in national channels checked; anyone else found anything reported anywhere, esp. in MI ? Might be that those law enforcement personnel are reacting to necessity for enforcing laws against certain levels of statement not unknown in hot political circles, and often found in court to be invasions of protections vs defamation and other similar occurrences. Recall one such in Chicago, ending, years later, in heavy fine and penalties. State laws vary widely and wildly, and have no source for checking those in MI. But do note we had no rapid response from WV with links of any kind, to official state or MI law or press channels. Will seek further elucidation from press channels there and will report if indicated. Meanwhile watch for any note whatsoever in national channels, esp. tv, which highly sensitive to such due to strong charges both ways on favoritism to one or the other candidate. For me, highly suspicious that nothing appears in those hot channels since this, if true, is top-interest national story not apt to go this long with no report.

Henry Ruark September 27, 2008 3:16 pm (Pacific time)

W.V.: Yours re Missouri fails to supply any checkable link, and also fails to show political party for any of the officials claimed. Also note some information comes from "press release";but no publication given to show it was published in any daily, or an tv-station ID given for check there, either Having received many similar from time to time,as reporter, find it safer to check before using. SO if you can do so please add those relevant checkable facts for what you wrote. May well be actual statement and press release, but again ID guarantees credibility,and without that we have only your War Veteran-word with no other evidence of credibility. Fraudulent materials are now so easily circulated via 'Net that this request really only routine --if yoy have real thing in hand, ID people and paper publishing,please.

War Veteran September 27, 2008 12:14 pm (Pacific time)

I have never observed here in America anything more chilling than what the below governor is addressing in Missouri. For those of you who are not informed, several DA's, and law enforcement leaders in this state went on record that they were going after anyone or organization (think television and radio stations) that they felt were making untruths about Obama (there is a video record of this statement by 2 DA's). People this is communism. this is Stalinistic. This will be a major issue not just here in the states but around the world. Be scared people, because who interprets what truth is? Please read what this governor addresses, things can change literally overnight if the wrong one gets elected. FOR IMMEDIATE RELEASE Saturday, September 27, 2008 Contact: Jessica Robinson, 573-751-0290 Gov. Blunt Statement on Obama Campaign’s Abusive Use of Missouri Law Enforcement JEFFERSON CITY - Gov. Matt Blunt today issued the following statement on news reports that have exposed plans by U.S. Senator Barack Obama to use Missouri law enforcement to threaten and intimidate his critics. “St. Louis County Circuit Attorney Bob McCulloch, St. Louis City Circuit Attorney Jennifer Joyce, Jefferson County Sheriff Glenn Boyer, and Obama and the leader of his Missouri campaign Senator Claire McCaskill have attached the stench of police state tactics to the Obama-Biden campaign. “What Senator Obama and his helpers are doing is scandalous beyond words, the party that claims to be the party of Thomas Jefferson is abusing the justice system and offices of public trust to silence political criticism with threats of prosecution and criminal punishment. “This abuse of the law for intimidation insults the most sacred principles and ideals of Jefferson. I can think of nothing more offensive to Jefferson’s thinking than using the power of the state to deprive Americans of their civil rights. The only conceivable purpose of Messrs. McCulloch, Obama and the others is to frighten people away from expressing themselves, to chill free and open debate, to suppress support and donations to conservative organizations targeted by this anti-civil rights, to strangle criticism of Mr. Obama, to suppress ads about his support of higher taxes, and to choke out criticism on television, radio, the Internet, blogs, e-mail and daily conversation about the election. “Barack Obama needs to grow up. Leftist blogs and others in the press constantly say false things about me and my family. Usually, we ignore false and scurrilous accusations because the purveyors have no credibility. When necessary, we refute them. Enlisting Missouri law enforcement to intimidate people and kill free debate is reminiscent of the Sedition Acts - not a free society.”

War Veteran September 27, 2008 6:58 am (Pacific time)

I watched the debate last night, then listened to a wide variety of pundit' analyses. Depending on who your guy was, it was how the analysis went as far as who had the better performance. But one of many statements that stand out for me: Obama-- "I wear a bracelet too!". He had to look down at his wrist to recall the name of the deceased warrior. Wearing the bracelet but not knowing the man’s name means he never actually thought about the man at all. Never once contemplated the meaning of the man’s sacrifice, but is only using the tragedy of the soldier’s passing to further his own political ambitions. This bracelet he wore was nothing more than a political prop in my opinion, and I believe that will resonate to most all bracelet wearers. I certainly know the name of a deceased warrior on my bracelet, I actually served with him and put him into a body bag. My wife wears one with the name of another deceased warrior, she never met. Does she know the name of that warrior. Of course. Does she need to look at her wrist to recall that name. No! Actually, it would be a thousand times better if Obama remembered the soldier’s name and not worn a bracelet, because that would at least meant the man was actually in his thoughts. Most veterans will in time come to the same conclusion as this observation is illuminated.

Henry Ruark September 26, 2008 12:32 pm (Pacific time)

To all: Recently several here sought full evidence of healthcare and economic status statements I made. Here's "see with own eyes" source, with excerpt as sample to "inform" your interest: "Most Europeans enjoy universal health insurance, child-care and parental-leave benefits that Americans can only dream about,as well as stronger unions,better pensions and higher minimum wages. "Most of Europe's outsiders get better basic social protections than America's insiders." From "Continental Drift";Robert Kuttner; The American Prospect;Kuly/Aug. 08 His extensive report is from an equally-extensive European exploration in depth of status and trends there. Obviously if you have serious disagreement with his facts, your target should be Kuttner.

Henry Ruark September 26, 2008 11:52 am (Pacific time)

Analysis: You defile the definition of that essential tool for all really interested in democracy. What you offer here is unrestrained and irresponsible and basically self-interest driven fraudulent oversight. That's proven by your reliance on false-positioning as if you were "in the room" and could both see-and-report. WERE you there in person ? DID you see-and-hear what you claim ? IF relaying from source(s), as the rest of us must, yours is credible only when you share the sources with link to allow us the courtesy and the right to check and evaluate for ourselves. To do as you have here is so obviously intended to confine any meanings to your own choice, with no substantiation as with "see with own eyes" protocol here, that you openly reveal your intention: Political pandering and proven distortion/perversion offered with no sign of credibility, and perhaps with tongue in cheek and smiling, albeit really in contempt of this open, honest, democratic channel. IF you have sources for what you wrote, cite them and share with us what facts they may contain. This is highly controversial situation, but all the more demanding of transparency, credibility, accountability and responsibility in dialog --every much as in any real solution for the real crisis.

Analysis September 26, 2008 10:26 am (Pacific time)

Leading up to the break in the presidential campaigns, Barack Obama spoke confidently about his ability to lead the economy; quipping ecclesiastically about the poor leadership of the Bush administration. He had, he claimed, been multi-tasking between the campaign and dealing with the economy by phone with his fellow Democrats. Everybody liked his ideas, his plans, and even John McCain was adopting them. Everything was ok in his view and let’s get on with the campaigning. The myth fell apart in front of a large assembled crowd of national journalists and cameras yesterday as Democrats and Republicans battled furiously over pork-barrel issues. Democrats were more interested in telling the cameras that they didn’t need John McCain around to solve the problem, but it was clear they were a long way from solving it themselves. Elizabeth Dole stepped briefly in front of cameras to remind people that she and John McCain had previously proposed regulation that would have averted the crisis. Barack Obama made his biggest political mistake by not putting country before personal ambition. I am still of the conviction this was a rookie mistake that will end up amplifying his lack of experience and political maturity. He amplified the problem yesterday by being more concerned with political posturing – who gets the blame and the credit – rather than trying to contribute to a solution.

Henry Ruark September 26, 2008 9:13 am (Pacific time)

R.M.: Refraining from irrelevancies like our personal measure of whatever Obama (OR McCain !) may have done, to reduce the confusion already overwhelming far too many here and in other channels elsewhere. Honest comparison of actual reality demands cogitation on factors impossible to put into detail within Comment-box. That's why I offer you et al clear, clean, detailed shot by Op Ed, which demands honest rhetoric openly done mirroring those factors as well as b.b feeling. We try to do that in S-N story and Op Ed coverage, sometimes achieving it, sometimes falling far below standard. Appreciate your word "gifted" but truth is professional Op Ed (OR any topside reporting) must build in same way, with same techniques, same reliance on facts-proven, for same results, to achieve standard. Sources need to be noted for check by receivers to use own minds in evaluating truth. My h.s. Latin teacher began that process by demanding real translation effort. Many since have added more painful steps, Minott at UPI-Bsn perhaps the toughest teacher for me and many others, including famed tv-reporter John Scali, who broke in there same day I did. So that's what you get for a nickel here now, for what it may be worth to readership surely now driven to cogitate in simple self-defense !! Your participation truly and honestly appreciated since it has demanded answers to crusty points, issues, problems, with crust sometimes hard to chew, too...!! Thanks and keep firing. That's what makes honest, open dialog worthwhile for many others. Where else do you find it these days ??

Henry Ruark September 26, 2008 8:41 am (Pacific time)

R.M.: Yours here as ill-supported by fact as elsewhere. See my comments in other threads which, with small alterations for points you raised, fit as well here, too. I'm now saving my nickels for more meaningful usage, since they represent LMA working time demanded for survival as economy continues to sink in tsunami set off by neocon plicies ever since Reagan. Final point: "See with own eyes" who now "filibustering" (9/26) re somehow-demanded cooperatively-based saving action to prevent catastrophic collapse of economy. Cooperation demands surrender of confrontation heavily used by neocons as "WIN BY ANY MEANS !!" ever since Reagan. (As detailed in my Op Eds) That's Bush-plan "they" (dissident S.GOP) hate so much they must torpedo it, thus clearly forcing fact of resistance into full public view, decimating any chance of now blaming Dems --Again !!

Rich Millison September 26, 2008 8:11 am (Pacific time)

I take that 7:09 pm as a "no", that you can't possibly respond. Too bad I thought you could at least answer my very brief inquiries regarding if Obama has done anything that qualifies him to be on the national stage. Your use of the "wind" is quite an appropriate analogy to Obama and Chicago-style politics, you are most gifted.

Henry Ruark September 25, 2008 7:09 pm (Pacific time)

R.M.: Yours re whindoodle played in Chicago with state funds and anything other currency portable no surprise. Lived there for twelve years, building LMA from scratch,with enforced contacts via some corporate clients heavily involved with Daley-side politics. Remind me to dig up old files sure to restore memory of some highly revealing bar and other fights with those doing the heavy lifting...you ain't even scratched the surface, which ensconces both gangs then even more obvious than now. Re charges, like the Titanic, depends on what they hit. Wait till the ice is unthawed for your final word on allathem. Floes usually just float on away... Wanta bet any ever come to jury-side ? 'Twas ever thus in the Windy City, I'm told, with the wind coming from where your charge information does, too.

Rich Millison September 25, 2008 3:42 pm (Pacific time)

Henry et al you are comparing dollar amounts, I am discussing character. Obama's past and current associations is relevant and will be further examined on a national level in the weeks to come. Possibly you could tell me of some significant thing that he alone has done while in the senate? He has been running for president for nearly the last 2 years, I just have never heard of anything that qualifies him for, well any real leadership role on the national stage. Has he ever crossed the aisle to work on bi-partisan legislation he originated? Note: He voted for the "Bridge to Nowhere" earmark twice while also cancelling out more $$ to Katrina victims. Palin was not even the governor when he made those votes. He is considered the most liberal candidate (Biden is #3) and the country is a majority conservative. It appears that this coming election will not be something his supporters will like in terms of the results. Any character and/or legis. accomplishments on his part you know of would be super if you could share.

Henry Ruark September 25, 2008 3:13 pm (Pacific time)

"Anon": Thank you for your helpful data, sir...but must repeat distrust of daily poll for more than that date and perhaps one or two more. "Current events" never got more perilous than presently, when was reading history at IU and elsewhere and on own for many years now. Thos events-then shaped the story THEN, for every age, and will again, for this one. Hang in there and keep safety belt fastened. "moretocome" will snatch paper right off the wall, one way or t'other... ("moretocome" is standard copy slug-line to wires editor in news service, to make sure he knows story is only just started, with more pages on the way. I broke in at UPI-Bsn in early '40s !)

Henry Ruark September 25, 2008 3:03 pm (Pacific time)

R.M.: Irrelevancies now will get you nowhere. Size, tone, method, content, attitudes and demonstrated techniques of Bush cabal on $700 billion snatch-job catching every eye and most ears today. One detailed story states it is largest such stickup in world history, which seems reasonable, until you find another stating total for bailouts in 3 years is now $1.3 TRILLION !!! Re those you list, remind me to send you list of those on record, many untouched by any effort legally, from Bush I and Reagan,as well as Bush II and Cheney. (Compiled for LMA purposes over some years.) Halliburton and Blackwater alone, memory tells me without check at moment, run over 20 totalling many billions. What you got on those ? Why not compare lists direct ? ID to Editor will bring direct from me in depth and detail, which should surely satisfy a truth-seeker like you.

Anonymous September 25, 2008 10:41 am (Pacific time)

As per Henry: "The Washington Post leads with a new presidential election poll that suggests the economic turmoil is helping Barack Obama, who now has the first clear lead in the general-election campaign. Among likely voters, Obama leads John McCain by 52 percent to 43 percent." Todays Gallup poll as compared to the Wash. Post poll. "PRINCETON, NJ -- John McCain has gained ground and is now tied with Barack Obama among registered voters in the latest Gallup. Poll Daily tracking update for Sept. 22-24, with each candidate getting 46% support."

Rich Millison September 25, 2008 9:21 am (Pacific time)

We are starting to see more and more allegations of misconduct coming to light re: this below candidate which should have been done months ago. Please note that the Atty. General of Illinois, an admitted Obama supporter is doing the investigation. The Obama people should demand their recusal so it does not smell so tainted. http://www.suntimes.com/news/watchdogs/1184049,CST-NWS-watchdog25.article A $100,000 state grant for a botanic garden in Englewood that then-state Sen. Barack Obama awarded in 2001 to a group headed by a onetime campaign volunteer is now under investigation by the Illinois attorney general amid new questions, prompted by Chicago Sun-Times reports, about whether the money might have been misspent. The garden was never built. And now state records obtained by the Sun-Times show $65,000 of the grant money went to the wife of Kenny B. Smith, the Obama 2000 congressional campaign volunteer who heads the Chicago Better Housing Association, which was in charge of the project for the blighted South Side neighborhood. Smith wrote another $20,000 in grant-related checks to K.D. Contractors, a construction company that his wife, Karen D. Smith, created five months after work on the garden was supposed to have begun, records show. K.D. is no longer in business. Attorney General Lisa Madigan -- a Democrat who is supporting Obama's presidential bid -- is investigating "whether this charitable organization properly used its charitable assets, including the state funds it received," Cara Smith, Madigan's deputy chief of staff, said Wednesday.

Rich Millison September 25, 2008 7:32 am (Pacific time)

When our elected leaders should be coming together in a bi-partisan way to help forge some problem-solving debates we have an impeached federal judge (see below comments) stirring up discontent, maybe even hatred. This individual should discuss the topic of racial idenity politics using examples such as himself and others. This is a sad comment on some leaders and voters. Note: The below individual was actually a federal judge so please realize that this election is not just about experience v.s. inexperience. Florida Congressman: Palin 'Don't Care Too Much What They Do With Jews and Blacks' Share September 24, 2008 ABC News' Teddy Davis Reports: Florida Democratic Congressman Alcee Hastings pointed to Sarah Palin on Wednesday to rally Jews to Obama. "If Sarah Palin isn’t enough of a reason for you to get over whatever your problem is with Barack Obama, then you damn well had better pay attention," said Hastings. "Anybody toting guns and stripping moose don’t care too much about what they do with Jews and blacks. So, you just need to think things through." This is an impeached federal judge who has no problem getting elected in his district that also has a major subprime forclosure rate.

Henry Ruark September 24, 2008 2:11 pm (Pacific time)

To all: Special added-service today for your attention to changing total on the election, per our re substantiality of polls. See last lines here: The Los Angeles Times, New York Times, and USA Today lead with the continuing bailout politics as the Bush administration sent some of its top officials to Capitol Hill yesterday in an effort to convince lawmakers they need to pass the $700-billion plan as soon as possible. Instead of falling in line as many had expected, Congressional opposition to the bailout seems to be growing every day. The men of the hour, Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson, appeared before the Senate Banking Committee to push lawmakers toward action. In what USAT calls perhaps his "darkest economic assessment" since becoming chairman, Bernanke warned that the current crisis is unlike anything the country has ever seen and failing to approve the bailout would have "significant adverse consequences for the average person." Despite these dire predictions, Congressional opposition, particularly from Republicans in the House, was so strong that by last night "it was no longer certain that a version of the Paulson-Bernanke plan could win passage," the LAT declares. The Wall Street Journal banners, and the NYT off-leads, news that Warren Buffett will invest $5 billion in Goldman Sachs. The WSJ calls the cash infusion by the famous investor "one of the biggest expressions of confidence in the financial system since the credit crisis intensified early this month." Financial stocks, including Goldman's, surged in after-hours trading as Buffett's decision "immediately heartened investors," says the NYT. The Washington Post leads with a new presidential election poll that suggests the economic turmoil is helping Barack Obama, who now has the first clear lead in the general-election campaign. Among likely voters, Obama leads John McCain by 52 percent to 43 percent. A mere 9 percent rated the economy as good or excellent, and 50 percent cited it as the most important issue. That undoubtedly helps Obama, who has a sizable advantage as the candidate best suited to handle the current financial crisis."

Henry Ruark September 24, 2008 1:46 pm (Pacific time)

"See also" new ref. re Reagan initiation of current debacle, from Robert Parry, in my last Comment on Wall Street story.

Percy September 24, 2008 12:30 pm (Pacific time)

Henry et al the New York Times lied about Rick Davis being paid by Freddie Mac. Did you know that? This is simply more evidence that the Times is spewing propaganda and no longer takes the time to fact check. That's the primary reason they are about to Chapter 11, then Chapter 7. Here would be something novel, list the Obama operatives that are on the payrolls of Fannie, Freddie and the Wall street outfits. Also list the political donations from these organizations made to Obama. Hint: Nearly three to one over McCain.

Percy September 24, 2008 12:22 pm (Pacific time)

Henry why no comment on Obama's Finance Chairwomen as per my 6:59 PM. This a pretty serious character issue, or is character not important as per the different associations Obama has? How about those that are convicted of felonies? How many convicted felons are in the McCain/Palin camp? Hint: ZERO

Henry Ruark September 24, 2008 8:32 am (Pacific time)

To all: See my Comment for Percy et al under Wall Street Gang above.

Henry Ruark September 23, 2008 7:51 pm (Pacific time)

To all: Nomi Prins is former longterm experienced investment banker at 3 top Wall St. firms. Here's her take on Gramm as major culprit for current deregulation disaster: "The Commodity Futures Modernization Act of 2000, passed late one December session by former Senate Banking Committee chairman Phil Gramm (R-Texas), deregulated the privately traded credit derivatives and swaps market. "These derivatives have dangerously intertwined with mortgage-backed securities, and require the creditworthiness of the financial institutions that trade them to remain stable. (AIG is an example of one that didn't, and we know how that turned out.) "Also, the Gramm-Leach-Bliley Act of 1999 - navigated by Gramm and cheerled by former Treasury Secretary Robert Rubin, who served under President Bill Clinton - repealed those 1933 protections and made it possible for investment banks, insurance companies and commercial banks to merge without requiring greater regulation. "Today's mess is a direct result of these two acts." (Excerpt from www.commondreams.org/print/3266 -------------- The 1999 action led by then-Sen. Gramm was the key step since it killed the Glass-Steagall Act we inherited from the Great Depression, as reported here. Clinton signed it under pressure, also as reported, and is mutually complicit, as reported. Any attempt to pin it solely on Clinton, and to make it appear he initiated that disastrous action, is therefore historical manipulation and perversion for political pandering purposes --also as reported here.

Percy Sanchez September 23, 2008 6:49 pm (Pacific time)

Here's some background info on Obama's finance chairwoman. I’m sure this isn’t the Penny Pritzker Obama knows and all, but it sure doesn’t look good to have her around anymore. Senator Barack Obama’s campaign faces a potential controversy over finance chairwoman Penny Pritzker’s past association with Superior Bank, which failed and was seized by regulators in 2001. “Billionaire Penny Pritzker helped run Hinsdale, Ill.-based Superior, overseeing her family’s 50% ownership stake,” John R. Emshwiller writes for The Wall Street Journal. “She now serves as Barack Obama’s national campaign-finance chairwoman, which means her banking past could prove to be an embarrassment to her — and perhaps to the campaign.” Superior was criticized for engaging in predatory lending, and paid out $200 million in dividends to owners throughout the 90’s based on cooked books. Seeing as Ms. Pritzker was one of those owners, that’s mighty interesting. Stay tuned.

Henry Ruark September 23, 2008 5:16 pm (Pacific time)

To all: Here's highly relevant link for latest from NYBreaking News Alert The New York Times Tuesday, September 23, 2008 -- 7:15 PM ET ----- McCain Aide's Firm Was Paid by Freddie Mac One of the giant mortgage companies at the heart of the credit crisis paid $15,000 a month to a firm owned by Senator John McCain's campaign manager from the end of 2005 through last month, according to two people with direct knowledge of the arrangement. The disclosure contradicts a statement Sunday night by Mr. McCain that the campaign manager, Rick Davis, had no involvement with the company for the last several years. Read More: http://www.nytimes.com/?eTimes:

Percy September 23, 2008 3:35 pm (Pacific time)

Is Biden ready to step in as president? In gaffe, Biden says FDR led nation when market crashed in 1929; Hoover was in office AP ^ WASHINGTON - Vice presidential candidate Joe Biden said today's leaders should take a lesson from the history books and follow fellow Democrat Franklin D. Roosevelt's response to a financial crisis. "When the stock market crashed, Franklin D. Roosevelt got on the television and didn't just talk about the, you know, the princes of greed. He said, 'Look, here's what happened,'" Barack Obama's running mate recently told the "CBS Evening News." WAY TO GO JOE!

Henry Ruark September 23, 2008 11:23 am (Pacific time)

To all: It is communications-research truism that when national cartoons pick up fact to convert into striking-image, that fact has become common understanding --otherwise cartoonist wastes space and time. Here's "see with own eyes" on that: Today's Horsey-drawn image from POST-INTELLIGENCER (Seattle), nationally distributed, has strong one titled "McCain's economic brain: Caricatured McCain head; small trapdoor opening above ear; Phil Gramm in door. Caption is "Given I'm the guy who rammed through deregulation bill that led to the Enron debacle and, now, the meltdown on Wall Street, I think I'd better just hide in here for a while...I'll see you whiners in January when I'm Treasury Secretary !" ------------- (As reported here recently.) Occurred to me you-all might enjoy cogitating re that image now enjoying national display. Somehow seems very relevant to Op Ed as well as to current events.

Henry Ruark September 22, 2008 9:04 pm (Pacific time)

WV: How come you sound so put out this late in evening ? One would almost think you might be losing calm needed for sleep. Re yr estimates, understand that feeling very well on your part. But Romney's record in Mass. not all that hot, my old contacts in Boston tell me. Re work record, mine covers one h... of a lot of territory in 20 states, in three tough professions, qualified in each, wrote in each, published in each --and got paid for latter, too, by some 50 or so very touch editors, and in Chicago (LMA) more than 250 clients from individuals to corporations to states to national agencies. Businesses ? Published, edited small, medium city dailies; published, edited oldest ed media journal in nation, then 50,000 circ. paid and free to some institutions. In Chicago, set sales record at T/L Books, trained youth there, operated LMA ten years as consultant, writer, media producer. Where's your record ? Mine right up there for all to see and check. Must be some reason you continue to hide yours. Invitation to Op Ed stands any time you can whomp up full page of plain English. Needs ID to Editor, though; is that your problem ?? Of course, too, you can always put nickel back in pocket and not pay your way here...with fact, good faith sharing, civil approach, and see with own eyes links, that is...or Op Ed if you got the guts. So what's griping you, kid ? Facts unpalatable for your weak reality-stomach ? Can't really be mouth, since audio inaudible on Internet, or are you unable to tell ??? If words too tough for you, simple: Turn out light and try to sleep...

Henry Ruark September 22, 2008 7:07 pm (Pacific time)

To all: Cannot help but wonder how Ronnie R. would read this latest "Wonder of the Markets" per NYT Wall St. Alert: Breaking News Alert The New York Times Monday, September 22, 2008 -- 4:11 PM ET ----- Dow Falls More Than 370 Points Amid Bailout Skepticism Stocks fell sharply and oil prices spiked, closing up more than $16 a barrel, as a battle seemed to be shaping up in Washington over the details of the biggest government bailout in history. The dollar also slid against the euro. Read More: http://www.nytimes.com/?emc=na --------- Watch that bit about dollar falling against euro...when it falls far enough, that's when our national/bank creditors in China, India, Russia start run on their huge piles of once supposedly safe U.S. Treasury investment, and also slash U.S. essential credit-supply. Russia has %50 billion, China unknown total but surely even more, and India ready, too, for rapacious raid on old Uncle now tottering, perhaps even on last legs. Anyone for McCain stock ? May be best bet for short-sell you will ever find: Buy now and sell after coming vote, when wit, wisdom, will of Americans may well decide world future one way or t'other for sure.

WV September 22, 2008 6:14 pm (Pacific time)

It appears that some are so fixated on the past (and grossly inaccurate to boot) that they cannot interpret the present much less anticipate the future. As far as Mitt Romney's financial experience, and a successful experience I might add, one should listen to his opinion rather than those who never ran anything but their mouths.

-----------------------------------------------------------UPDATE-------------------------------------------------------------

Tim King

Henry Ruark September 22, 2008 2:32 pm (Pacific time)

To all: Amazing to hear Mitt Romney moving to play the blame-game by stating "GOP believes in and has backed appropriate regulation". He most carefully avoided using DE, since obviously in state of denial. Does he "not remember", now, the Reagan regime and the absolute reign of Ronnie's DE-regulation started and continued there and then ? Does he deny "Greed is GOOD !" as asserted by Ronnie, in one of few unscripted lines he ever uttered ? That one was written by someone else, too, for a very scripted occasion setting theme and reflecting the attitude then driving all, until disasters proved so potent R/R had to reverse tax/slashes and ended up with horrendous, record deficits. But as asserted in other threads, Psy/101 teaches art of projection (including own denial essential to its action), so surprise is now unwarranted, esp. for now-historic back-to-era search for truth. But sure as h... we can now chuckle while neocons and other political mountebanks now try to read plain-English public record upside-down and put patented GOP-spin on facts firmly there. What dizzy venture cometh next for this piratical crowd ? They already playing practiced "pitchfork the dollars"-bit for corporate, financial friends, while working to make it seem they fighting buy-out by demanding diffusion from Dems on own defensive terms.

Henry Ruark September 22, 2008 2:07 pm (Pacific time)

C.A.Theil e al: Your points completely correct and meticulously strengthened by the authorities you quote and link. The Reagan-shots were intended in the same way as Bush II, and some by Bush I, to set up expenditures so deeply that other programs politically hated would become impossible. Known among some as "feeding" and among others as "starving" both referred to damaging impact on federal funding for "the beast" --whatever the legal-and-Congressionally approved efforts were then, or later. Norquist et al in more recent years supplemented that by "weakening the beast" enough to permit "dragging it into the bathtub and drowning it". History shows without possible doubt the intention was to set up as near-fatal blow as then possible vs any and many of the social, cultural, educational and union improving forward steps taken in New Deal days and later. We are fortunate to have had such blundering carry-on cabal as that surrounding Bush II, with momentous mistakes and arrogant errors making inevitable what is currently happening. Your strong participation truly appreciated, esp. with demonstrated comprehensive and civil approach.

Henry Ruark September 22, 2008 1:14 pm (Pacific time)

W.V.: Yrs re Social Security encumbers fact with falsity. Problem is simply stealthy stealing of Social Security funds from accounts where they could work, draw interest, accumulate, for use-now as collected and drained into payment of government costs for purposes never intended originally. Both parties complicit, both guilty not only of neglect but of deepening and mutually desperate default in telling truth to the people, then acting to remedy situation. You wrote: "offering a new process for younger workers on a purely volunteer level." I note you avoided reference o privatizing their accounts for handling as in Wall St. and other investment accounts currently. That's either misinformation purposely done or woeful lack of your own understanding --either one destroys any remaining credibility for you on the issue.

Henry Ruark September 22, 2008 10:31 am (Pacific time)

W.V,: You wrote: "The radical's solution is to increase taxes, that is always their solution, never works." That makes Reagan into radical since he first slashed taxes. favoring already-rich, then he had to raise them, to some of highest levels-ever, when he learned "supply-side" offered no free lunch and he could not cut government income, buy butter and guns, distort and pervert foreign policy defying Congress, without paying the inevitable price...huge deficits, then-record size. All this checkable if you will only make effort-first, then Comment. Since you obviously can access computer rest is simple effort. SO where's your bkgrnd history and documentation for more b.b political pandering ? Our readers demand truth, if you can first recognize it, then appreciate it, and then share it here. IF you wish to project your personal political bias --we all have one or several, mainly inherited from family, friends, life experience-- why not use Op Ed with 1000-wd. size to do it correctly, and also accountably and responsibly, too ? Do you know any other daily offering same privilege ? But it demands price, too, which is responsibility and open accountability for words. You pays your nickel to read;for further work, you owe readership same ID as for any other conversation, and withholding on request is mask-adjusting for obvious reason. Easy -simply ID to Editor as for any reasonable Letter to Editor elswhere, then supply copy. We welcome dissent and your documentation since then we all learn from responsible sharing, devoid of political bias, pander and waste of time for most of us.

WV September 22, 2008 10:08 am (Pacific time)

Glen, Bush did not want to destroy Social Security, that is happening already by doing nothing, he was simply offering a new process for younger workers on a purely volunteer level. From that new resolution ideas could hopefully germinate. Something must be done about this program, and real soon. The radical's solution is to increase taxes, that is always their solution, never works.

Coral Anika Theill September 22, 2008 9:10 am (Pacific time)

Another excellent article from www.thenation.com, 9/21/08, on America's financial crisis, "John McCain: Crisis Enabler" by Mark Sumner http://www.thenation.com/doc/20081006/sumner Once is happenstance. Twice is coincidence. Three times is Enemy Action. --Auric Goldfinger "The dereguation binge that tanked global markets is a bullet deliberately fired into the economy by ideologues, heedless of the ultimate cost to taxpayers. And John McCain cheered them on. "James Bond's wealthy nemesis may have had an obsession with gold, but he judged, quite correctly, that if people keep putting your plans awry, that was likely their intent. "In 1982, the same year John McCain entered the Senate, a bill was put forward that would substantially deregulate the savings and loan industry. The Garn-St. Germain Depository Institutions Act was an initiative of the Reagan administration, and was largely authored by lobbyists for the SandL industry--including John McCain's warm-up speaker at the Republican National Convention, Fred Thompson. The official description of the bill was "An act to revitalize the housing industry by strengthening the financial stability of home mortgage lending institutions and ensuring the availability of home mortgage loans." Considering where things stand in 2008, that's enough to make you wince. It should." - Mark Sumner

Coral Anika Theill September 22, 2008 8:54 am (Pacific time)

Thank you, Henry, for your excellent article. I also appreciated many of the points made in this 9/22/08 article from http://truthout.org, "Paulson Bailout Plan - A Historic Swindle" by Willaim Greider, on the economic crisis America faces today. http://www.truthout.org/article/paulson-bailout-plan-a-historic-swindle "If Wall Street gets away with this, it will represent an historic swindle of the American public - all sugar for the villains, lasting pain and damage for the victims. My advice to Washington politicians: Stop, take a deep breath and examine what you are being told to do by so-called "responsible opinion." If this deal succeeds, I predict it will become a transforming event in American politics - exposing the deep deformities in our democracy and launching a tidal wave of righteous anger and popular rebellion. As I have been saying for several months, this crisis has the potential to bring down one or both political parties, take your choice." "Guess who picked up the tab? I suspect Wall Street is envisioning a similar bonanza - the chance to harvest new profit from their own fraud and criminal irresponsibility." - William Greider

Henry Ruark September 22, 2008 8:44 am (Pacific time)

To all: Here's "see with own eyes"link sharing insights from world-famed Noam Chomksky, one of most-quoted modern thinkers and qualified cognitive scientist and linguist at the Massachusetts Institute of Technology: "Markets have inherent and well-known inefficiencies. One factor is failure to calculate the costs to those who do not participate in transactions. "These "externalities" can be huge. That is particularly true for financial institutions. "Their task is to take risks, calculating potential costs for themselves. But they do not take into account the consequences of their losses for the economy as a whole. "State capitalist institutions [are] designed in large measure to socialise cost and risk and privatize profit, without a public voice. "Hence the financial market "underprices risk" and is "systematically inefficient," as John Eatwell and Lance Taylor wrote a decade ago, warning of the extreme dangers of financial liberalization and reviewing the substantial costs already incurred - and also proposing solutions, which have been ignored. "The threat became more severe when the Clinton administration repealed the Glass-Steagall act of 1933, thus freeing financial institutions "to innovate in the new economy," in Clinton's words - and also "to self-destruct, taking down with them the general economy and international confidence in the US banking system," financial analyst Nomi Prins adds. "The unprecedented intervention of the Fed may be justified or not in narrow terms, but it reveals, once again, the profoundly undemocratic character of state capitalist institutions, designed in large measure to socialise cost and risk and privatize profit, without a public voice. "That is, of course, not limited to financial markets. The advanced economy as a whole relies heavily on the dynamic state sector, with much the same consequences with regard to risk, cost, profit, and decisions, crucial features of the economy and political system. http://news.bbc.co.uk/2/hi/business/7621771.stm#noam ---------- Detail here to share and help us learn truth in current complex situation. Pls note that Clinton signed death for G-S from GOP/controlled Congress after Sen. Gramm's subterfuge in setting up how attack was handled, reported here earlier, for Enron, with wife then joining Enron Board and very well-paid.

Henry Ruark September 22, 2008 8:00 am (Pacific time)

To all: Glen's point mirrored rapidly in response from McC. Here's excerpt from NYT major story now being analyzed for later link: "Mr. McCain also stuck by his support for allowing workers to invest a portion of their Social Security payroll taxes in stocks and bonds, an approach that Democrats call privatization and that Mr. Obama has used to suggest Mr. McCain would subject retirees to excessive market risk." ---------- In separate main story NYT now reporting heavy lobbyist pressure winning extension of bailout to foreign banks, as noted in my Comment ystr/dy. U.S. economy now becomes fully symptomatic of distress built by globalization piled on top of deregulation, privatization and "supply-side" budget falsities. Check out any "happening now" reports in next few days to see close-contact consequences surely coming; then re-read Op Ed.

Henry Ruark September 22, 2008 7:43 am (Pacific time)

Glen: Yr insights appreciated as always. Re SS, that's what I mean by insights. Let's see how many political/panderers pick up on that point.

Glen September 22, 2008 6:25 am (Pacific time)

Nice job, Hank. Don't forget Bush wanted to destroy Social Security and replace it with having us invest our retirements in the stock market.

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