Late last week Times Picayune pundit Stephanie Grace wrote a column on the call to rebrand the Louisiana democrats who are now on life support giving a local flavor to trend toward the southern states once again chipping in solely with one political party. I thought of it when I saw the name Elizabeth Warren pop up in the news cycle in the aftermath of President Obama’s online conversation at LinkedIn yesterday.
Anyone that has paid attention to the oversight accorded to George Bush’s last major official act in the financial bailout known as TARP well knows the name Elizabeth Warren. She was born a southern girl to a middle class family in Oklahoma before making good, landing more recently as the chairwoman of the Congressional Oversight Committee for the bailout. She simply took no prisoners and tackled her job in a nonpartisan way that made her a folks hero of sorts to the ordinary people who paid attention to her work. Following is an exchange with Treasury Secretary Tim Geithner that illustrates that point:
I say this because Ms Warren was the logical choice to head the new consumer protection bureau at the Department of Treasury but President Obama was sold out before he arrived in the oval office so that job went to someone else. I’ve often joked the voters are electing republicans to Congress to send President Obama some much-needed help because he acts mostly like a republican and to a certain extent it is true. Obama had the Bush-era tax cuts expire on his watch and he renewed them almost as a matter of routine before he began to clamor to raise tax rates on the wealthy. To me it comes across as the height of duplicity. Continue reading “Rebranding the Democrats: Ditch Obama and get behind Elizabeth Warren.”
Folks you can typically tell at a business conference who the hard-core GOPers are by spotting the guys on their knees licking the wingtip shoes of the big business representatives in attendance. I’m sad to say it appears most in the modern-day GOP share this affliction of favoring the corporate folks that stuff big money in their pockets over the local folks that elect them but it is what it is. So I guess none of us should be surprised at the new normal where the GOP controlled House of Representatives has no problem extending billions in taxpayer subsidies to big oil companies while literally chopping off local Corp of Engineers wetland projects at the knees barring new construction starts even on projects with funding in the pipeline.
The Louisiana GOP delegation is MIA on this of course while their party craps all over the local populace but we witnessed Mississippi’s own Steven Palazzo cutting big money from a defense project being constructed in his own district endangering the jobs of thousands of folks in the process so none of this is new. Unfortunately none of these sellouts shared any of those specifics when they were campaigning to “fire” Nancy Pelosi last year while gorging on Wall Street funded campaign cash.
The country is heading into the crapper faster now than ever with the draining of our treasury by special interests leading the way. They won’t stop until there is nothing left folks.
What’ll you do when you get lonely
And nobody’s waiting by your side?
You’ve been running and hiding much too long.
You know it’s just your foolish pride.
From the Wall Street Journal (subscription required):
A dozen life insurers have pending applications for aid from the government’s $700 billion Troubled Asset Relief Program, and the industry is expecting an answer to its request for a bank-style bailout in the coming weeks. The government so far hasn’t said whether insurers will be eligible for the program.
Life insurers have taken a beating in recent weeks. The Dow Jones Wilshire U.S. Life Insurance Index has fallen 59% since the beginning of the year, leaving it down 82% since its May 2007 all-time high. The Dow Jones Industrial Average has lost 21% year to date, off 51% since its October 2007 record.
Denial is a terrible thing and it appears either the WSJ reporters were suffering the affliction or they were fed a line of BS and didn’t check it as the story continues: Continue reading “State Regulated Insurers Come Groveling to Uncle Sam for Help”