Monthly Archives: July 2010

‘Law Remakes U.S. Financial Landscape’

Business, Economy, Fascism, Political Economy, Regulation, Republicans

Among the 500 odd new regulations it imposes, the financial bill, all 2,300 pristine, unread pages of it, has just been passed by the Senate. As we surmised in April, and Bloomberg now confirms, the thing will,

” … create a mechanism for liquidating failing financial firms whose collapse could roil markets, a council of regulators to police firms for threats to the economic system and a consumer bureau at the Federal Reserve to monitor banks for credit-card and mortgage lending abuses. It also expands oversight of executive compensation and derivatives, contracts whose value is derived from stocks, bonds, loans, currencies and commodities.”

“Nowhere in the final bill will you see even a pretense of rolling back the endless federal incentives and mandates to extend credit, particularly mortgages, to those who cannot afford to pay their loans back,” notes Mark A. Calabria of the Cato Institute. “After all, the popular narrative insists that Wall Street fat cats must be to blame for the credit crisis. Despite the recognition that mortgages were offered to unqualified individuals and families, banks will still be required under the Dodd-Frank bill to meet government-imposed lending quotas.”

The title of this post is borrowed from the aptly titled article in the WSJ, which warns that “the legislation hands off to 10 regulatory agencies the discretion to write hundreds of new rules governing finance. Rather than the bill itself, it will be this process—accompanied by a lobbying blitz from banks—that will determine the precise contours of this new landscape … ”

The Managerial State in full force.

There were 60 YEAs and 39 NAYs.

The Republicans that must be thrown into the brier patch are Susan Collins, slow Olympia Snowe, and beefcake Scott Brown.

'Obama's War Of Choice…On Arizona'

Democrats, Federalism, IMMIGRATION, States' Rights

Pat Buchanan: “Barack Obama’s war on Arizona is not a war of necessity. It is a war of choice—an unprovoked war, undertaken not to defend constitutional or civil rights, but to pander to his party’s left and Hispanic voters. …”

In a shocking and telling episode in the Rose Garden, Obama stood by mute as Felipe Calderon attacked the Arizona law as “discriminatory.” The next day, Democrats in Congress, with Eric Holder and Janet Napolitano joining in, cheered the Mexican president’s slander that Arizona introduced “racial profiling to law enforcement.”
There was a time when such an insult to a state of our union, on U.S. soil by a foreign ruler, would have produced a diplomatic crisis, if not pistols at dawn.
Democrats cheer as Arizona is attacked by a Mexican leader whose country treats illegal entry as a felony and illegal aliens with a brutality no American would tolerate. …
And what exactly is at the heart of the Arizona law?
Simply this: Being in this country illegally is now a misdemeanor in Arizona, as it is in U.S. law. And as a 1940 U.S. law requires resident aliens to carry their green cards or work visas at all times, Arizona will require police to request such identification if, in a “lawful contact”—a traffic violation or altercation—the officer entertains a “reasonable suspicion” the individual may be here illegally.

“Obama’s War Of Choice…On Arizona.” Pat Buchanan just gets sharper and sharper.

‘Obama’s War Of Choice…On Arizona’

Democrats, Federalism, IMMIGRATION, States' Rights

Pat Buchanan: “Barack Obama’s war on Arizona is not a war of necessity. It is a war of choice—an unprovoked war, undertaken not to defend constitutional or civil rights, but to pander to his party’s left and Hispanic voters. …”

In a shocking and telling episode in the Rose Garden, Obama stood by mute as Felipe Calderon attacked the Arizona law as “discriminatory.” The next day, Democrats in Congress, with Eric Holder and Janet Napolitano joining in, cheered the Mexican president’s slander that Arizona introduced “racial profiling to law enforcement.”
There was a time when such an insult to a state of our union, on U.S. soil by a foreign ruler, would have produced a diplomatic crisis, if not pistols at dawn.
Democrats cheer as Arizona is attacked by a Mexican leader whose country treats illegal entry as a felony and illegal aliens with a brutality no American would tolerate. …
And what exactly is at the heart of the Arizona law?
Simply this: Being in this country illegally is now a misdemeanor in Arizona, as it is in U.S. law. And as a 1940 U.S. law requires resident aliens to carry their green cards or work visas at all times, Arizona will require police to request such identification if, in a “lawful contact”—a traffic violation or altercation—the officer entertains a “reasonable suspicion” the individual may be here illegally.

“Obama’s War Of Choice…On Arizona.” Pat Buchanan just gets sharper and sharper.

UPDATED: Are You Or Aren't You Racist

Left-Liberalism And Progressivisim, Morality, Political Correctness, Race, Racism, Terrorism

That’s the question—the defining existential question in a world that lives under the tyranny of political correctness. This form of terrorism means that for violating correct thinking one can find oneself fired, ostracized, branded, libeled, robbed of property and peace, and even confined in certain “free” countries.

Mirroring this reality is Obama’s ludicrous statement, in the wake of the murder of “at least 74 people … in blasts targeting people watching the World Cup,” about the handiwork of terrorist outfits such as al-Qaeda and al-Shabab. The BBC reveals (they must think this is a worthy, because politically profound, news story) that,

“What you’ve seen in some of the statements that have been made by these terrorist organisations is that they do not regard African life as valuable in and of itself.”

BHO’s statement was complemented by an administration cretin, who said:

“al-Qaeda is a racist organisation that treats black Africans like cannon fodder and does not value human life”.

[SNIP]

Plain murder? Forget about it. Committing murder is secondary to harboring racism. Committing murder while racist—-nothing could be worse than that.

UPDATE: THE RACIAL REALITY is such that a blithering Beck has announced, after expatiating on the topic for two sessions, that the New Panther rants are not about race. They are about black liberation theology (and that’s not about race, right!) or hippies.

There are black and white Hitlers all around us, says Glenn.

Where is the suicidal white supremacist to situate himself outside a polling station in Atlanta, and call for the killing of black babies, in a non-racial way, naturally? The last white supremacist I got wind of was killed by a black supremacist.