The 1 trillion dollar bail out is just another liar loan.

Why are we to buy trash loans. So that Banks can artificially prop up the value of their mortgages.

This bailout will do nothing about the people and the ideologues that invented the financial system that caused the problem we see now.

The Bums have to be replaced. They have proven to be failures. Not the genus of finance they claim to be.

This is no more than a redistribution of wealth from the poor to the rich.

The value of our homes have been cut in half. Because of Wall street greed.

We should not even consider the idea of buying out looser loans.

Instead we should release the bankruptcy court of the burdens of the Wall Street fiasco.

Sweep up those that have failed America in a fire sales.

The results we see today prove that the private market can not do better than government.

No more money redistributed to the rich.

No more trickle down.

Let them eat cake.

Paulson now wants to also buy up bad credit card debt. TK says: idiotic.

Please read:

From: http://www.bloomberg.com/ap...

The U.S. Treasury submitted revised guidance to Congress on its plan a day after first submitting it, as lawmakers and lobbyists push their own ideas. Officials now propose buying what they term troubled assets, without specifying the type, according to a document obtained by Bloomberg News and confirmed by a congressional aide.

The change suggests the inclusion of instruments such as car and student loans, credit-card debt and any other troubled asset. That may force an eventual increase in the size of the package as Democrats and Republicans in Congress negotiate the final legislation with the Bush administration, analysts said.

Economists skeptical of bailout

Avi ZenilmanSun Sep 21, 8:58 AM ET

Many of the same economists and opinion-makers who'd provided a bipartisan sheen of consensus to Treasury Secretary Henry Paulson's  previous moves have quickly begun casting doubts on the wisdom of a policy that would allow Treasury to purchase without oversight hundreds of billions of dollars of difficult-to-price assets from financial institutions.

Under the proposal, Paulson would not have to report to Congress until December, and the only safeguard for taxpayers was a provision that the “Secretary shall take into consideration means for — (1) providing stability or preventing disruption to the financial markets or banking system; and (2) protecting the taxpayer.”

Skepticism toward the plan reflected more than the predictable desires of the left to spread the wealth to Main Street or of the right to reject government bailouts, although those sentiments were also expressed.

"We need to take a bold move. In that sense I think Paulson is right," Luigi Zingales, a Professor at the University of Chicago School of Business who wrote a widely circulated short essay titled "Why Paulson is Wrong,” told Politico. 
 
Zingales fears  that the Treasury bailout would effectively turn the entire financial sector into a Government Sponsored Enterprise, complete with the same murkiness and moral hazard that sunk Fannie Mae and Freddie Mac. “It might achieve the final outcome, but it will do so at an enormous cost," he said. "All the troubles we’ve seen with Fannie and Freddie would be seen again and again across the entire financial sector."

President Bush is “asking for a huge amount of power,” said Nouriel Roubini, an economist at New York University who was among the first to predict the crisis. “He's saying, ‘Trust me, I'm going to do it right if you give me absolute control.' This is not a monarchy.” (Roubini told the New York Times that despite these concerns, he also thought the plan could help stave off a recession.)

Paul Krugman, the Princeton University economist and liberal columnist for The New York Times who had until now been cautiously supportive of Paulson's and Federal Reserve Chairman Ben Bernanke’s efforts to prop up the system, wrote that the new plan would be a taxpayer rip-off. “I hate to say this, but looking at the plan as leaked, I have to say no deal,” he wrote on his blog at 4:46 p.m. Saturday. “Not unless Treasury explains, very clearly, why this is supposed to work, other than through having taxpayers pay premium prices for lousy assets.”

Yves Smith, a longtime banker and contributor to the influential finance blog Naked Capitalism, published an angry post there titled, "Why You Should Hate The Treasury Bailout Proposal":

"Given that continuing to buy U.S. assets will come under increasingly harsh scrutiny overseas, the U.S. needs to bend over backwards to devise a plan that at least looks credible in terms of directing the funds that come from taxpayers and lenders to their highest and best uses and implementing reforms that will restore active and prudent oversight of financial firms," she wrote. "The administration's demand for a free pass, even if Congress unwisely goes along, is likely to backfire with our foreign creditors."

Gregory Mankiw, a professor at Harvard University and a former chairman of Bush's Council of Economic Advisers who was the economic guru for Mitt Romney's campaign, favorably linked to Smith's post under the headline "A Blank Check" and approvingly quoted a correspondent who wrote, "Has more money ever been given with fewer restrictions on how it is used? Ever?"

Sebastian Mallaby, the center-right economic columnist for The Washington Post and scholar of the modern financial system, was equally dubious. “The plan is being marketed under false pretenses," he wrote in his Sunday column, rejecting comparisons of the plan to the Resolution Trust Corporation, which the government formed in response to the savings and loan crisis to purchase and sell off the bad loans made by bankrupted thrifts.

“The administration proposes to buy up bad loans before the lenders go bust,” Mallaby noted, keeping the banks alive but doing little to solve the problem infecting the markets. “Bad loans are weighing down the financial system precisely because private-sector experts can't determine their worth. The government would have no better handle on the problem.”

Justin Fox, Time magazine's top financial writer and columnist, also worried about the lack of an upside for the taxpayer. "What I still can't figure out is how Treasury hopes to structure the bailout so there's at least a chance of getting a fair return on that risk-taking," he wrote on his blog.

"How on earth will these things be priced?" Portfolio's Felix Salmon asked about the bad debt Paulson plans to purchase. He also pointed out that Treasury would need to stock its office with bond-trading professionals. "All we know so far is that it's going to be set up as a reverse auction, but that raises more questions than it answers." 

One notable proponent of the plan was The Financial Times' unsigned Lex column, which acknowledged the lack of oversight but mostly praised the plan:

"This bailout is necessary and the bill should be pushed through quickly. … Nor is the package necessarily a disaster for the taxpayer or the U.S. dollar. If the Treasury buys assets well, and confidence is restored, there is [a] chance that Mr. Paulson could win fund manager of the year."

Zingales, though, writes in "Why Paulson Is Wrong" that "For somebody like me who believes strongly in the free market system, the most serious risk of the current situation is that the interest of a few financiers will undermine the fundamental workings of the capitalist system. The time has come to save capitalism from the capitalists."

DEMOCRATIC White House contender Barack Obama has reversed a Republican surge in national polls.

The results point to an electorate swayed by the financial crisis, and signs that Sarah Palin's star may be dimming.

Senator Obama, who has focused attacks on rival John McCain's capacity to rescue the US economy, led 49 to 45 per cent in a poll of likely voters nationwide by Quinnipiac University.

A CBS/New York Times survey put Senator Obama up by 48 per cent to 43 per cent.

The trend was confirmed in Gallup's daily tracking poll, which had Senator Obama ahead 48 to 44 per cent, the first time in two weeks that the Illinois senator had a lead beyond the margin of error.

Senator Obama's momentum set the stage for the first of three debates with Senator McCain next week and might represent the last chance to cement a lead in the tight race.

"Senator Obama is right back where he was before the so-called convention bounces, with a four-point lead," said Maurice Carroll, director of the Quinnipiac University polling institute, near New York.

"The Democratic discombobulation after the selection of Governor Palin as GOP running mate seems to be steadying."

With economic turmoil ricocheting around the world, the Quinnipiac survey suggests economic arguments may be swaying support towards Senator Obama.

THE FBI and the Secret Service were trying yesterday to trace hackers who broke into Ms Palin's email account and published it on Wikileak, the Guardian reported. 

McCains, 'Country First'. Apply it to the petro industry. Nationalize them!

I have made an argument for nationalization of petro for years.

I base that on the fact that petro is now dominated by the multinational. And the multinational has no allegiance to any country.

America has enough fossil fuel and other sources of energy to power itself until hydrogen and other renewables are perfected.

That is against the best interest of the multinational.

McCains, 'Country first', must be accepted by the multinational.

Or the energy industry must be nationalized.   

T Boone Pickens is not a oilman. He is a hedge fund manager. 

Pickens is a wealthy man. But for the rest of us. He has lost a fortune speculating in energy this year.

Besides the wind farms. Pickens has large interests in natural gas and crude in a number of areas of the world. North Dakota and Canada's Bakken Formation being one of them

Pickens plan does not succeed on Cheap fuel. He is trying to get the most money for fossil fuels before alternatives like hydrogen start up.

And he expects government assistance and top dollar for his windmill energy.

North Dakota's Bakken has been flaring Natural gas for many years now. Because of the lack of pump stations and pipeline capacity.

Producers must start paying royalties on flared gas after one year. 

If Pickens wants to make money on  his Bakken Formation investments. He has to find a customer. One of which is to sell the idea of Natural gas for transportation and trucking.

I have always took a second glance at patriotism for profit. 

Pickens ads stink of  patriotism for profit..

Yes, I agree America has a energy problem that can be helped with greater use of wind and natural gas. But the answer for transportation is hydrogen.

A means to collect the energy created by renewable resources.

And that does not necessarily mean fuel cells. A better way may be to convert today's internal combustion engines to hydrogen. No differant than we have been converting internal combustion engines to natural gas for decades..

Hydrogen produced from renewables and fossil fuels. Renewables that include solar, wave, tidal, wind, geothermal, hydro, etc.

At this point in history. We have been searching 2 century's for a acceptable battery. The result? A car that will travel 40 miles on a charge.

That's unacceptable.

Hydrogen must not be thought of as a fuel. but rather a storage source. A battery.

Water passes through America's reservoir systems 24  hours a day whether we need the electricity or not. That is energy wasteful

What are the requirements for hydrogen.

Water and electricity.

Continue to make electricity from water released to agriculture etc even when the electricity is not needed.  Use this excess energy to create hydrogen that can be accessed latter when there is a demand. Or immediately ship to distribution centers for use in transportation.

Our current system of natural gas distribution can easily be converted to hydrogen.

But what must not be done is to increase the Natural gas pipeline system beyond hydrogen conversion centers.  It is irresponsible to build natural gas pipelines that Will later need billions of dollars in upgrades to transport hydrogen. This massive spending on natural gas will only delay the much needed hydrogen transportation system.  

Why is everyting connect with Wall street too big to fail.

Why isn't America's life style for it's people.

Too Big To Fail?

Is T. Boone Pickens Correct When He Says the US has an Energy Problem It Can't Drill Out Of?

Thomas Boone Pickens, Jr. (born May 22, 1928) is an American businessman who chairs the hedge fund BP Capital Management. With an estimated current net worth of about $3 billion, he is ranked by Forbes as the 117th-richest person in America and ranked 369th in the world.

Pickens was one of the first independent oilmen to grow his company by acquisitions rather than by just exploration.[citation needed] Before reaching the age of 40, Pickens led Mesa's first big acquisition, the Hugoton Production Company, which was 30 times the size of Mesa.[5]

By 1981, Mesa had grown into one of the largest independent oil companies in the world, and Pickens shifted his focus to acquiring other oil and gas companies. This made Pickens a celebrity during the 'deal-making' 80s. His most publicized deals included attempted buyouts of Cities Service, Gulf Oil, Phillips Petroleum, and Unocal.

• 2 months ago

Additional Details

2 months ago

Since 1980, Pickens has made over $5 million in political donations.[2] He was a financial supporter of President George W. Bush and contributed heavily to both his Texas and national political campaigns. In 2004, Pickens contributed to 527 Republican groups, including a $3 million contribution to the Swift Vets and POWs for Truth attacking Bush's rival, John Kerry, and $2.5 million to the Progress for America advocacy group. In 2005, Pickens was among 53 entities that contributed the maximum of $250,000 to the second inauguration of President George W. Bush.[12][13][14]

On July 16, 2007, Pickens wrote an article for the National Review supporting Rudy Giuliani for President. "In Rudy Giuliani, a gracious and committed public servant I’ve known for many years, we see that rare blend of big-picture vision and proven track record of achieving the “impossible.”

2 months ago

Last week, we reported Lester Brown's comment that oilman and corporate raider T. Boone Pickens responded to a question about why he was investing in the wind-power industry by saying, "Because I'm tired of reading oil depletion curves."    http://answers.yahoo.com/qu...
  

TK's want list...

1. A minimally-invasive tummy tuck. 

Cityranch,

Too bad you didn't read the blog I re-posted below.

You were one of the people I speak of in the post. I am sure you must know that.

Yet you resort to ad-homonym attacks.

I see no reason for honorable people to resort to such thing. Maybe you could write a post and explain it to all those you censor by your attitude.

You in effect 'Burn books'. By resorting to such impolite behavior.

Turning away many bright minds that would not wish to dull their senses on your meaningless ramblings.

Two dumber than rock brutes, can punch heads for 15 rounds and still manage to follow the rules and shake hands at the end of the fight.

Why you would resort to such tripe in your first comment to me.

Is baffling.

Blog re-posted:

Why TK came back. (end of 4 of 4)

Well, with a 5 month old in the house. Mom and Dad in school along with Ant tee. ( all still teenagers)

It wasn't because I had time on my hands.

Even though I had not posted in a while. I read frequently.

Then. A couple of bloggers decide to quit. Finally Nancy said she was going on vacation.

When people quit because of personal attacks.

You have the ultimate censorship.

And in the case of a blog community failing.

Those that are hurt the most. Aren't the bloggers.

But the readers of the blog. And they are the ones that the advertising dollars are reaching out to. That is why I always talk to the readers. Not the blogger.

This blogging can be fun and informative.

And it can also be trash.

I have now done my little bit to save blogging for my grandchildren. 

This is the state of Palin's celebrated tenure as Alaska's Commander-in-Chief: the worst record in the country on her primary task in the role. 

SARAH PALIN

Palin's Pay Cut as Mayor Followed by a Raise

By Juliet Eilperin
On the campaign trail, GOP vice presidential nominee Sarah Palin has declared at least four times that she cut her own pay as Alaska's governor.

"And, you know, as mayor and as governor, I tried to lead by example," she told the crowd at a Sept. 9 rally in Lebanon, Ohio. "So as mayor, I took a voluntary pay cut, which didn't really thrill my husband."

But just-released records from the Wasilla clerk's office show a slightly more complicated picture. Palin's pay did drop from $64,200 in October 1996 to $61,200 in January 1997, but in June 1998 it jumped to $68,000. Palin's pay did dip once more in July 1999 to $66,000, according to the records, but it jumped back to $68,000 three months later, and it stayed at that level until Palin left office in October of 2002.

Palin spokeswoman Maria Comella did not have an immediate explanation for the ultimate pay boost Palin experienced as mayor. 

Paulson/Bush to use taxpayer money to bail out foreign institutions.

I had wondered how saving American institutions would help the Dow considering all the trash securities that have been unloaded to foreign institutions.

Well the following paragraph from todays' treasuries statement explains the whole deal.

The plan is to bail out foreign institutions with taxpayer money..

Please read:

Asset and Institutional Eligibility for the Program

To qualify for the program, assets must have been originated or issued on or before September 17, 2008. Participating financial institutions must have significant operations in the U.S., unless the Secretary makes a determination, in consultation with the Chairman of the Federal Reserve, that broader eligibility is necessary to effectively stabilize financial markets

TK continues:

The American taxpayers can not bail out the world and fight terrorism forever.

There must be a time when the foolishness must stop.

There is going to be a terrible price to pay no doubt.

But should the taxpayer prop up those that created the problem. Allowing them to escape with their fortunes before the curtain falls on the middle class.

I think not.

It is unimaginable that anyone could blame the liar mortgage of a underemployed hard working American for the collapse of the world economy.

Therefore I find it unimaginable that he should be asked to pay the full price.

We have reached a point where if we don't bail out the world. The economy will collapse.

We have reached a point where anyone who thinks that America can afford to bail out the world. Must be suffering some sort of manic event.

If we don't bail out the world. The world will pull out of the American economy.

We can no longer afford to bail out the world. Our wealth and honor spent in the foolishness of the Bush regime. In the foolishness of 'trickle down' and 'Iraq'.

It's time to pay the piper. 

An American Embassy is American soil.

We have suffered a terrorist attack, on American soil, under the Bush Jr. watch. In Yemen.

Yemen is the same Country as where the Cole was attacked.

1% utility surcharge by city is just plain wrong. 

This money isn't being used to build windmills or solar cells. It's being used to improve the  extension of the Interstate 15 freeway.

That is wrong.

Why is City utility money being used to improve drive time for interstate truckers and county developments west of Bakersfield.

County development occupied by people who refuse to become members of the City of Bakersfield.

No matter my condition or disability.

I will now have to pay for the interstate freeway system

No matter that I walk everywhere I go.

I will now have to pay for the interstate freeway system

Let me suggest that Bill Thomas pay for the freeway he wishes named after him.

I don't want it.

But I am taxed. 

American taxpayer just bought AIG. 80% (stake) per CNBC this minute.

Sounds like I am now self insured...

Why TK came back. (end of 4 of 4)

Well, with a 5 month old in the house. Mom and Dad in school along with Ant tee. ( all still teenagers)

It wasn't because I had time on my hands.

Even though I had not posted in a while. I read frequently.

Then. A couple of bloggers decide to quit. Finally Nancy said she was going on vacation.

When people quit because of personal attacks.

You have the ultimate censorship.

And in the case of a blog community failing.

Those that are hurt the most. Aren't the bloggers.

But the readers of the blog. And they are the ones that the advertising dollars are reaching out to. That is why I always talk to the readers. Not the blogger.

This blogging can be fun and informative.

And it can also be trash.

I have now done my little bit to save blogging for my grandchildren.

First, refiners are not processing 150.00 oil. They hedge crude just like the speculators. In fact today. They could, today, be buying contracts for 50 bucks/barrel in 2015.  

The CEO from Valerro just this summer on CNBC, when asked why,  with the small margin, why would anyone buy their stock. The CEO started to tell in great detail how Vallero has millions of barrels in contracts that they purchased for less than 50 bucks. Just about as he was going to reveal even greater company secretes. Somebody walked up and slapped him on the back of the head. (not literally)

The cast of 3 CNBC reporters were amazed that the CEO had made such a blunder.

The price dropped now. Only because the heat is on those speculators that will never take delivery. And the actual users of crude stopped taking contract months ago. 

T Boone knew this last winter, when he shorted, but ended up taking a bath because the speculators kept running up the price.

After he lost over 10 million bucks shorting crude. He switched sides to join with the speculators. Riding the wave up and now stuck long on 130 dollar crude and 12 dollar natural Gas... 

If things are as  you say.  No collusion, no price fixing no Drugs, booze and prostitutes. Then crude went to eight dollars because that is what it is worth. In capitalism the consumer sets the price. Not the producer.  If the petro industry doesn't like 8 dollars a barrel. Let them put their assets up for nationalization. The public or another capitalist will take them off their hands. And make money.  The petro industry is not GOD's salvation for mankind. They can be easily replaced.

Prices are falling and they will continue to fall. Ike will have a small up turn impact.  But every  effort will be made to get things back in production.

The petro industry wants to open up off shore drilling.

If they allow Ike or any other factor to shut down production and refining in the Gulf, for any extended  period, causing prices to spike.

Congress is going to balk at opening up off shore drilling. If it is unreliable. We need to look somewhere else.

The federal Govt's Energy information agency says there is 500 billion barrels of crude in the Bakken formation of North Dakota. And no hurricanes. No earthquakes. No tornadoes in the area of the Bakken. 

Off shore of US total? Only 70 billion barrels.

Anwar a messily 10 billion barrels.

North Dakotan and Small drillers are begging for pipeline capacity and more refineries. But the Majors aren't interested. Why?

Shell oils CEO said it would not be in their best interest to open up in the Bakken. 

 Because most of it is on private land.

These are down to the earth people. They want cash. Not Drugs, Booze and prostitutes.

 Thanks but no thanks, If we need prostitutes. We'll get our own prostitutes.

TK blog 101, refresher course. Blog 3 of 3

Years ago I went through this same subject.

Click on any comment.

What is the first thing you see..

The original post of course.

The new reader is going to read the original post at some point in time.

When the blog goes into the 2^nd page. It may as well be in outer space as far as the new blogger is concerned.

Imagine the un-trained blogger trying to find that comment on page 2 when he has been directed to page 1.

Now on the original blog. I bantered with FSG until Page 2 came upon us.

Then started blog 2 of 3.

The process will continue on this blog.

I know I can not change the mind of the career blogger.

The point of my blogging is to reach those with an open mind.
Those that have not hardened themselves to the ad homonym attacks so frequent on the blogs.

I play the victim.

And without question these newbies always side with the target of the attack. This is because it is these attacks that make them fear joining in the blog. 

 FSG,

I do not censor, I blog.

But I do have the right to censor. And will not blink. :>)

If I were a Buick salesmen. Would you expect me to list the wonders of a Dodge? You came here for a Buick didn't you?

The pertinent information to that blog was that Rove called McSame a liar. And that Rove called McSame a liar has been stipulated.

Once it's authenticity is maintained. There is no need to explain where the fact originated.

There is no need to substantiate any fact other than the particular one that is relevant.

Every thing  else is a smoke screen.

A attempt at erasing the facts. By coloring over them with minutia.

Mexico,

We went into Bosnia with NATO. We had budget surpluses We had almost eliminated the debt. Money was available to America at every turn.

Russia had nothing. They were just on the road to enormous wealth. They had to blink.

Jr. destroyed America as a world power.

We are now a beggar to the world.

When you have to borrow from the world you have to do their wishes.

When your commerce (NAFTA) is dependent on the world. You go begging to the world for business. Tanks do you no good. Atomic bombs do you no good.

We are in worse situation than the depression. We are broke and powerless. Because Bush/McCain/Palin/Cheney, worships Crude and wall street.

Taxes on the wealthy MUST be raised. (over 250,000)

Social security/Medicare must be to big to fail. These programs  guarantee the stability of the economy.

Projects must be started, contracted to business that a pay living wage.

A living wage must be instituted.

The glut of housing MUST be sold down at any price This can be an absolutely perfect time to help level the cost of living around the U.S. New regulations must be instituted and enforced.

Look at Bakersfield. We are stuck with tens of thousands of home lots grandfathered into developers fees that have always been ridiculously too low. It will take years to sell these off. Most likely more than ten years.

What will the 13 grand proposed for future developments pay for ten years down the road? After factoring inflation.

Dirt roads no curbs?

And more of the same under McBush/Palin 

We have to kill the idea that a company can be to big to fail. Guaranteeing a company they can not fall. Guarantees fraud and greed will control the business.

Necessary infrastructure must be nationalized. Garbage, roads, airports etc.  and yes energy and crude, if corporations can not guarantee a constant supply.

If natural disasters rule a particular area. Pull back leases. And insist on drilling in safe areas such as the Bakken.

As a nation it is cheaper to pay an extra dollar/barrel every day. Than see the spikes we have seen over the last few years.

Just remember. February 2002. Gasoline in Bakersfield was .85 cents a gallon. 6 ½ years ago. If America is driven into depression. Even the petro Czar will see that steady ahead is the safest route.  

Last of all, we have to get drugs, booze and prostitutes out of Corporate America.

Karl Rove says: McCains ads do not pass the 100% truth test.

TK says:

What percentage of a statement must be not true. Before it is a lie.

Common sense would seem to make clear. That if all of the statement is not true. Then the whole statement is a lie.

It only takes one virus. To start a plaque.

McCain, Under what terms is the economy 'fundamentally strong'?

Unemployment?

Stock market?

Fuel prices?

Inflation?

Will Palin dump the RNC and McCain in 2012.

There is no doubt that Palin has been on a power play over the past few years. She certainly is the star of the ticket today.

Will she have the power to take the evangelical and women vote from the Reb's and form her new Independence Party.

She is a maverick.

So was Perot...

McCain has no understanding of computers. No wonder he crashed 5 computerized military aircraft.

At 5 months old. Lacie knows there is a connection between the keyboard/mouse and the Monitor.

Surely a computer could be mastered by a Giuliani 'Top Gun". (per Giuliani speech @ RNC)

Why has everyone missed the connection between Military planes of the VN war era, and computers?

McCain couldn't then and can not not decipher the mechanics of the computer revolution.

That's a perfectly good explanation for why he was involved in the destruction of 24 computerized war planes. And the near sinking of a computerized Air craft carrier.

Bright Eyes - The Trees Get Wheeled Away (Letterman)

The voice although not operatic. Is appropriate for this mans music and lyrics.

Suffer the tone for a minute. Listen to the lyrics.

I found a number of his songs since my 'Raising Arizona' post.

Whether you agree with his politics or not. There is no doubt he is a master song writer.

The Fed will now for the first time in history take equities, (stocks) for loan collateral.

This is from a Trickle Down Bush regime that now has re-invented the ownership society to mean Taxpayer ownership of Failed company stock so that fat cat 01%er's can have their hedge fund stock holdings propped up until they can withdraw their funds.

PS, First scene of President Talks to GOD. Bush Jr is signing a U.S. Flag..

 Help!   All I need is 40 billion..

Merrill Lynch Gone. No More.. Aquired by BOA

DJ futures Down  260,  269. Lehman Brothers employees carrying boxes out of Lehman headquarters.

DJ = 11191

Dollar sharply weaker.

Crude down 1.35   @ 99.83 Brent crude 95.99   Gasoline 2.68 down 0.08

War with Russia. Palin says “Perhaps So”. "We will not repeat a Cold War," Palin said

http://news.yahoo.com/s/ap/...

TonyH.

For your reading pleasure. McCain and the Forestall..

From the Nation:

http://www.thenation.com/bl...

Like many potentially life-altering experiences, McCain's came as the result of a brush with death. On July 29, 1967, while preparing for his sixth bombing run over North Vietnam in his A-4 Skyhawk aboard the deck of the USS Forrestal, an accidentally fired Zuni missile ripped into his plane's fuel tank. Within moments, a chain reaction swept the deck of the carrier, triggering fires and explosions, setting off 1,000-pound bombs and engulfing planes, killing 134 men. McCain, slightly wounded, saw body parts fly and watched blistered comrades die before his eyes.

A few months later, sipping Scotch in a Saigon villa with Johnny Apple of the New York Times, McCain reflected on the trauma. "It's a difficult thing to say," he said, "but now that I've seen what the bombs and the napalm did to the people on our ship, I'm not so sure that I want to drop any more of that stuff on North Vietnam." (In 1972, a significant number of B-52 pilots and crew engaged in exactly that kind of heroic insubordination, refusing orders to fly missions in the midst of President Nixon's carpet-bombing of North Vietnam.)

Certainly McCain could not have been unaware of the havoc unleashed by his bombing missions over Vietnam. Though Pentagon war planners and Defense Secretary Robert McNamara preferred to emphasize the antiseptic nature of aerial bombardment against carefully chosen targets, a highly publicized series of articles in late 1966 by Harrison Salisbury in the New York Times described the widespread devastation of civilian neighborhoods around Hanoi by American bombs. "Bomb damage...extends over an area of probably a mile or so on both sides of the highway" near one target, he wrote, noting that "small villages and hamlets along the route [were] almost obliterated." Several years ago, a chastened McNamara acknowledged that Operation Rolling Thunder, which unloaded 800 tons of bombs a day over North Vietnam, caused more than a million deaths and injuries in Vietnam each year from 1965 to 1968.

Standing stiffly in the sun outside a New Hampshire high school after a campaign appearance, McCain curtly rejects the idea that he had any second thoughts about his role in Rolling Thunder. He denies the accuracy of the quotation from 1967, stumbling briefly over his words before barking, "That wasn't the exact statement." Instead, he says, he was simply referring to the "terrible power we had" and reacting to the horror of war. And perhaps it is too much to expect McCain, born on a naval air station in the Panama Canal Zone and programmed virtually since birth for his part in the war, to have let his conscience get the better of him. In any case, within weeks of the '67 incident, McCain made the fateful decision to plunge back into combat, getting himself assigned to the carrier Oriskany, where he joined an A-4 squadron called "the Saints." On October 26, 1967, on his twenty-third bombing mission, this one against a thermal power plant in what McCain described in his book as "a heavily populated part of Hanoi," he was shot down, plunging into a lake just blocks away from Ho Chi Minh's presidential palace, and taken to prison.

"Nobody made me fly over Vietnam," McCain says now, as quoted in John McCain: An American Odyssey, the biography by Robert Timberg. "That's what I was trained to do and that's what I wanted to do.

Hillary and Palin together. Address the Nation.

http://www.nbc.com/Saturday...

McCains says: Governors and mayors do not have the experience at debate. ( video) 

McCain fiddling with wedding ring and checking out Palins hindquarters. At the RNC.

58,226 Americans died during the VN War.

None of them ever a mayor of Walissa.

None them ever a short term Governor of one of the least populated states in America.

Because they died as youth in a War designed by politiicians the like of Palin/McCain/Bush/Cheney.

We are not only involved in a VN War Wannabe, in Iraq.

We are protecting the production of 8000 metric tons of opium in Afghanistan.

And we have as a nation allowed the thought to enter our minds. That Palin would be qualified to run this nation.

A women who believes like Bush. That GOD picks her out from the masses, in the middle of the night. And speaks to 'her'.

The Bakersfield California feeding the RNC lies.

An article not one Paper employee would take credit for, (page A-3 of TBC). Describes Gibson's interview of Palin as Mischaracterizing Palins well recorded Statements. And statements in fact reported verbatim in the Californian article.

Read the article carefully. Each of Gibson's statements/questions were exactly correct. But the California Says they were mischaracterized. On What bases?

Mischaracterize:

To give a false or misleading character to: mischaracterized the findings of the study.

Palin asked if she had used the exact words, 'GOD's plan'.

Gibson said, 'exact words'.

Gibson was exactly right and it was exactly in character to Palins statements made in a Church.

In an attempt to feed the RNC lie. TBC Mischaracterizes Gibson's statement/Questions.

Gibson did not attribute 'Are we fighting a holy war to Palin'. That was his question.

A question Palin was asked to respond to.

This is a first for me. I am deeply offended that a news paper will hide behind a 'blank' article. One that not one employee will take credit for.

Now don't mischaracterize my statement above.

I am proud that no employee would take credit for this trash article.

It's the paper.

I pray there is a logical explanation for this junk.

I pray that maybe your web guru let a hack slip through t.

This article is no doubt editorializing. Not reporting.

PS, The definition of the word mischaracterized is greatly misunderstood. 

If I were a betting man. Most people would immediately interpret mischaracterization. As a lie.

But it is not.

For instance a study by unlicensed doctors hired by the Janitor from the campus of USC California, done in New Laredo, Mexico. Could be mischaracterized as a study done by the USC (an omission of janitorial staff)

Not one proper journalist would proudly claim that Gibson interview was biased or intentionally misleading.

http://www.youtube.com/watc...

Only the very strong of mind and soul could bare to listen to my sad tale... 

I am just a lonely boy..

Fred Thompson lied about McCain at the RNC..

Why won't McCain speak out about the embellishment concerning his service?

A new found tape of McCains Release as a POW.

http://svt.se/svt/jsp/Cross...

Fred said that as a result of his injuries. McCain could not raise his arm to salute the flag. If injuries have caused McCain to be unable to salute the flag. The defect most certainly occurred after his release by VN..

http://news.yahoo.com/s/ap/...

Long live the Virgin of Guadalupe! Death to bad Government! Down with Spaniards in America!

Spoken by:

The Rev Miguel Hidalgo y Costilla a Catholic Priest. This is said to have sparked the 11 year Mexican war for independence. Sept 16 1810.

From:

TBC page E-12

TK says: 

Is there a man/woman that will proclaim:

Down with drug cartels! Down with corruption and bad government! Be brave! Do not flee across our borders!

There is a Mexican Dream. For those that stay and fight.  

I am not opposed to the nationalization of important functions. I am a centrist. In the Case of Franny, Freddy and the energy industry. They are vital components of our society.

When they become corrupted and unclean. They must be saved. But saving does not mean the foreign stake holders, need to be made whole.

Municipal power , water and sewer departments are becoming the norm. Garbage collection, roads, waterways and airports All commonly nationalized.

Today's news was overwhelmed by reports of Drug abuse and promiscuity in the petro industry. Fanny and Freddy rife with ineptness and delinquent managerial skills. Just recently ENRON, what a cesspool.

Capitalism can not survive in this realm of evil. There has to be change. Regulation has failed to stunt the spread of criminality in the Corporate world.

Nationalization must be threatened and the threat put in play, for good to overcome evil greed.

When:

The run up in crude and gas. Was based only on the idea that the, '1%'ers can'.

Nationalize Franny- DONE

Nationalize Freddy - DONE

Nationalize Petro – NEXT

There will be Blood...

Military Brass: U.S. Running Out of Time in Afghanistan .

TK says:

The McCain/Bush plan to win for oil in Iraq. Cost America Afghanistan and bin Laden.

Please read:

Testifying before the House Armed Services Committee, Adm. Mike Mullen also restated his concern that the military effort in Afghanistan cannot succeed alone without more assistance from other agencies of the U.S. government in order to help develop the political institutions and economic stability needed to fight the Taliban.

"Afghanistan doesn't just need more "boots on the ground," Mullen said. "We can't kill our way to victory, and no armed force anywhere -- no matter how good -- can deliver these keys alone. It requires teamwork and cooperation."

Mullen cautioned, "I'm not convinced we're winning it in Afghanistan. I am convinced we can."

http://www.abcnews.go.com/P...

Now she supports Dean Gardner.. But WHY?

Then there is Assemblywoman Nicole Parra, a Democrat from the Hanford area farther south, who also is single and faces one of the toughest reelection fights in the state because of her conservative district. She reminisced with Malcolm Maclachlan of the Capitol Weekly about her earlier campaigns, saying 2006 seemed "like déjà vu."

"Republican operatives called classmates from her 1988 class at Highland High School in Bakersfield to try to dig up lesbian dirt on her and float a rumor that she had started a gay and lesbian club there. Parra's 2004 opponent, Dean Gardner, openly questioned her 'alternative lifestyle' during the closing days of his failed campaign against her. 'If you're in your mid-30s and you're not married, you must be a lesbian,' Parra said."

http://latimesblogs.latimes...

Diesels' Replacement

http://www.pickuptrucks.com...

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A song for Lacie Lynn...

Save UR LUV for Grandpa.

No boyfriends for a while OKAY!!!!!!!  

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The raising of a Liberal Roveinian

Yep here she is. 5 months old and still full of the GOD given decency she was born with.

It'll be a tough row to Hoe. (Has Obama used that one yet? He better hurry up before Palin steals it)

But I'll set her free from that which is honorable and mold my little centrist in the Rovinian model.

And she has more pretty than has ever come out of Palins mouths.

If a industry giant becomes ripe with greed and bribary  Then ends up  too big to fail. Then Capitalism has failed.

First the mortgage and housing industry. Now the oil industry.

Oh, a bit of news for Ron and Justin. KBR Stanley was hired by Haliburton Cheney..

Do you suppose that the FBI waited for Cheney to term out before they slaped him in cuffs?

I don't suppose. I think the answer to my question is obvious.

K.B.R. Bribery Plea

by Portfolio Staff  Sep 3 2008 Key figure in massive Nigerian bribery case admits guilt, agrees to cooperate with investigators. Will Vice President Cheney become a target of the probe   Albert "Jack" Stanley, the former director of global services for Kellogg Brown & Root pleaded guilty Wednesday to having paid bribes to Nigerian government officials for more than a decade, including while the construction and engineering firm was owned by hElliburton.  

http://in.reuters.com/artic...

TK poll question.

Barring any possibility that the two are one in the same.

During your high school education, which of the two drew the most attention.

1. The school librarian.

2. The Senior class slut.

Let's hope that the American voter has grown up since high school.

The Bakersfield definition of Capitalism is:
 

'Me',

Served by my slave labor and peasant customer.
 

'Me', is the center of the universe. Any other thought is sacrilegious. Any thought other than my own must be evil. Because religion serves 'Me' at the expense of a small tithing.
 

The peasants have no time to worry of the other peasants. That is my job. And I will do it when time comes. 

Now some tkozyisms:

Redistribution of Wealth is not a liberal idea. It is a basic tenet of Capitalism.
 

If you condemn Redistribution of Wealth. You condemn Capitalism.
 

In order that an economy not resort to a fiefdom. There must be a redistribution of wealth. Money would all pool in the hands of one if capitalism did not hold close the practice of Redistribution of Wealth..
 

There are many forms of redistribution. All of them have as a purpose the betterment of society and therefore the benefit of the economy of the Capitalist society. Building of roads, parks, welfare, support for the needy, the ill, the disabled, the elderly, along with a tax in proportion to ones benefit from society. Are all examples of legitimate redistributions of wealth.
 

Capitalism can not exist outside of the law. Capitalism can not exist outside of regulation.

Capitalism can not exist outside of Society.

Capitalism can not exist outside the Redistribution of Wealth.

PERIOD

Nationalization.
 

Why do we pretend it is bad. Why do we pretend that it does not exist in America. When it has been in Kern County and Bakersfield for over a century.
 

Would the thought ever come to mind that our Sewer districts should be made a private entity?
 

San Diego, Los Angeles and Sacramento all have municipal Water and Power districts. No matter your consternations. These are in effect nationalized entities that serve the public because no other can do the job better.
 

These three thrive in the midst of what are some of the largest for profit districts in America. And they provide more reliable and cheaper services. 

If you Google municipal sewer, water or power districts. The lists go on. And On And On....
 

Yet to Nationalize a foreign national Petro Corp during wartime seems to leave a sour taste in many peoples mouth.
 

I can not for any reason see why.
 

Is it that because of History. The Ringing of the words 'American Made', still sound true to many. Especially in Kern and other oil producing areas.
 

Sure the oil is in our soil. But is pumped out of our dirt. Then abused by the Multi National petro CZAR. Refined and exported from our nation at the expense of our National security during a time of war.
 

When will we set greed aside and proclaim Security as the title on the post card card that outlines our purpose.

 No part of Capitalism allows for one group to amass all of the wealth. That is a fiefdom.
 

In capitalism the farmers are to protect the rights of the Villager. And the Villager is to protect the rights of the Farmer. In this way they are able to promote commerce and create a better economy for the Nation.
 

Adam Smith presented HIS Capitalism. The only TRUE capitalism in a book called. ''An Inquiry into the Nature and Causes of the Wealth of Nations (1776).. Notice it is not named the Wealth of Superman. Or the Wealth of the Petro Czar.
 

He recognized that Capitalism is not government. It is a form of an economy that supports THE NATIONS economy.. That capitalism can not survive outside of society, laws and government. And that those structures must be protected at all cost.
 

Under Adam Smith capitalism, each entity. Each individual MUST return to society/Nation in proportion to it's benefit from society. No one is allowed to monopolize any portion of the society, or commit any act that would reduce the relevance of society.
 

Adam Smith was a deeply religious man And wrote strongly about his believes and the need for proper morality in society and it's economy. You may also want to Read Adam Smiths, “The Theory of Moral Sentiments (1759)'. (you can google these books and read them on line or go through my posts and find the links within them)
 

So you might figure out on your own. He was strongly opposed to monopolies and said so.. 

 I have no problem with you inventing an economy. I just don't like it when you call it Capitalism. Practice your economy allll you like. But an economy of one man gets tiresome in short order. And is usually booted from the dominant economy.

In a society you don't get to chose if you want to pay for a road a society feels is necessary. You must pay for a bridge when the majority of society says the bridge must be built. You must pay with a premium that resembles the benefits you have achieved from the existence of the society that you live in.
 

If you get contagious and sick. You must stay out of the public. And society puts a sign on your front door.
 

In a society. There are rules. You must abide by those rules or step outside the society and be denied the benefits that society may present for it's law abiding members.
 

This tough guy idea that I can do better than what society can give me. Is not reality. There is no wealth outside of society. There are no friends, there is no happiness outside of society. Reality is that you exchange benefits and labor with society to make society a better place. To maintain a society that is viable and offers you the ability to grow both spiritually and financially.
 

There are no dead bodies left to rot in the gutters in front of your house. Because society collects a premium to insure it is that way. Do you want a life where the bodies are just swept down the street until someone may concern himself to dispose of the body in the dessert?
 

Must I remove the corpses, for you, in my pick up truck. Because you do not want to bother with that part of society?
 

Being a part of society and contributing to it, is not socialism. It is humanity. It is mankind and what we have evolved into. It is what separates us from the animal.
 

You must contribute to society in proportion to the benefits you receive from society. Because that is capitalism. And that is the economy America has chosen to participate in.
 

Of course you can always count your wealth in pecans. And safe harbor in the mountains. Please pay cash for a mirror before you go. You may want to pretend you have a friend.

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 What's New? Well nothing but a new Busterette!   5 months old is new isn't it?

Well everyone, say high to a future Bakersfield Prune picker.