U.S. Politics, 8

[awesome possum]

On a completely unrelated note, the ever-popular Daily Show just took apart the union picketing Walmart. Or rather, the the union that hired non-union workers to do the picketing for them.

http://www.writeonnevada.com/2010/09/watch-this-daily-show-destroys-ufcw-of.html

I think it's hilarious that Republicans are so quick to bring up the TDS when it hammers on a Dem or "liberal" group like a Union. Suddenly, it's cool to link to the video as proof of something, but ignore the constant stream of conservative stupidity Stewart and ilk point out the rest of the time.

[lokisnow]

Tax cuts are a sham. they are a way to let businesses off the hook of giving their employees raises. Meaning if a tax cut is passed, raises stop because the business correctly reasons that the government has given their employees a raise for them--thus they invest less money in their employees, proportionally, as their profits go up but their wage outlays remain the same. There is no incentive to let employees share in greater profits due to lower business taxes as well. Tax hikes are an incentive for businesses to raise wages. Businesses correctly reason that their employees will determine the best way to make up the lost income from a tax hike is to seek a new job with a higher wage so they compensate their employees with raises to offset the tax hike--thus investing more money in their employees. Even if business taxes go up, most businesses will reason it is cheaper to invest more proportionally in payroll than to have to deal with the extensive one time costs associated with brand new employees.

[Commodore]

All they had to do was have a stand alone bill and they would have gotten enough GOP members to go along.

They would rather have the political issue than use their majority to affect change. Exactly the opposite of what Obama's campaign was all about.

Attaching contentious social policy to defense authorization bills is as cynical as it gets.

[Lord O' Bones]

Exactly the opposite of what Obama's campaign was all about.

Let's not conflate Obama's administration with the Democratic Congress largely composed of shit-stains and mercenaries.

[sologdin]

that whole "endowed by their Creator" part was just drivel anyway....

a) it is drivel.

b ) it is irrelevant; the declaration is meaningless outside its immediate context.

[ThinkerX]

A possibly valid solution to the mortgage mess:

http://market-ticker.org/akcs-www?post=167106

So here's the resolution folks, and this is what we, the people must demand from our lawmakers in Washington DC:

• Those who bought a house with a note that was not properly conveyed into the MBS trust, irrespective of how that defect took place, must be recognized as having bought the house with a signature loan - that is, an unsecured borrowing. The house is theirs. The holder of the note (if all the finger-pointers can figure out who it is) is welcome to try to collect the unsecured debt. The owner is also welcome to file bankruptcy, throwing off the debt and in some cases, depending on state law, keeping the house. This immediately resolves the foreclosure mess for those who bought with non-agency mortgages where the trusts and paper path are defective (which is a huge percentage of the bubble homes.)
• Those who bought MBS from institutions that improperly securitized this paper can and should sue the securitizers to well beyond the orbit of Mars. They are due full recovery for what was perpetrated upon them. This too is entirely within the law and requires nothing new.
• We must demand an expedited bankruptcy process that citizens can use to deal with this. Everyone should be able to use it once - walk in, leave your assets at the door (ex qualified retirement accounts and, where allowed, your primary residence) and walk out clean. It trashes your credit but it clears the market, it clears the debt overhead, it actually de-levers households and, as the forced deleveraging flows through the banks and business, delevers them too.
• Finally, if this bankrupts one or more large banking institutions, so be it. We now have "resolution authority", let's see it used. Sheila Bair, go to work damnit. We need a banking system, but not particular banks. More importantly, it is absolutely critical that those people who did this not get away with it and be able to keep the ill-gotten gains that they "earned" by violating both the law and the covenants they proffered to buyers of this paper

[The Progressive]

Here's the thing, ThinkerX, wouldn't those policies, if implemented, simply encourage further irresponsible borrowing? And I'm further disappointed that none of those ideas would help to solve the looming energy crisis and the collapse of the US economy. :worried:

[Shryke]

4chan takes on the Tea Party:

http://www.boingboing.net/2010/09/21/tea-party-website-4c.html

The official Tea party website, teaparty.org, has apparently been compromised by los del 4Chan. The "Photos" section of teaparty.org currently links to this url, which (duh, 4chan!) now contains lots of porn and racist/shock visual jokes.

[Guest Raidne]

That doesn't make sense. A filibuster is the opposite of closing off debate. And Reid saying "if debate was opened for Republicans...." just confirms that the vote was about ending debate. and just going to a vote on the whole bill. And voting on a bill that huge without permitting amendments is nuts.

No, the Republicans voted to close debate. On the whole bill. I agree with you fully - that is nuts.

Sorry I wasn't more clear, but, really, you can read this anywhere.

On a completely unrelated note, the ever-popular Daily Show just took apart the union picketing Walmart. Or rather, the the union that hired non-union workers to do the picketing for them.

So the Daily Show hired illegal immigrant workers to picket the picketers. He he. Seriously, I threw a book across the room. What a dumbass, that guy.

[TrackerNeil]

I don't know how many here read Politifact, but I recommend it. Today, you can check out Michelle Bachmann's report card, which is labeled with a big red "F" for "f8cking serial liar."

Oh, and BTW, for those who say, "It's easy to villify health insurance companies", I reply that it's quite easy when they act like villains. Not that this is out of the ordinary for that industry; earlier this year it was reported that Wellpoint was conducting searches of its policyholders to target breast cancer patients. Check it out:

WellPoint was using a computer algorithm that automatically targeted them and every other policyholder recently diagnosed with breast cancer. The software triggered an immediate fraud investigation, as the company searched for some pretext to drop their policies, according to government regulators and investigators.

The Democratic Party might lose their House majority this year, but on March 23, 2010, they did all right by us.

[TheLoneliestMonk]

I don't see how the picketers union can stand for this!!! :tantrum:

[MinDonner]

STRIKE! No more picketing until our demands are met!

[peterbound]

Ha, that video clip was funny as hell.

The comments on the link were great too, i think its great how folks love when The Daily Show gives the conservatives heart burn, but if he attacks the liberal's baby (unions) he's doing it in bad taste.

You also have to ask yourself why these people agree to get interviewed by the show? You know they are going to either make them look like idiots, or make fun of the problem they are facing.

[Guest Raidne]

Who says the clip was in bad taste?

Oh, the comments, I gather. Okay.

[alguien]

Never read comments posted below any video. They've become the equivalent of scribblings on a bathroom wall.

[Tormund Ukrainesbane]

The only solution to the mortgage mess is a judicial one: bankruptcy courts need to the authority to change mortgage rates. People were calling for that when this crisis started, but instead Bush and Obama both went to the banks and said:

- Here's a lot of money

- Promise us you'll help people save their homes

- Promise us, and hope to die, that you won't go back to mortgage backed derivatives trading

Now we're seeing the problem with that "strategy".

This is an area of expertise for me. The Federal Government is directly bribing mortgage companies and consumers to lower interest rates to extreme levels. The Making Home Affordable modification program lowers mortgage interest rates to 2% while allowing the mortgage term to be extended to 480 months and deferring up to 30% of the principal balance. Mortgage companies and consumers both get 1000.00/year from the Feds to accept this modification. There is a matching program for second mortgages. My company has done thousands of these and I have weekly phone calls with the Dept. of the Treasury regarding the programs.

The number of people who over-leveraged themselves so far that even these extraordinarily generous terms won't even help is astounding.

[Guest Raidne]

See, here's the thing: anyone remember all the credit card companies sitting around in booths all over campus the first few days? And if, say, those companies had offered a $10K credit line right off the bat, how many people do you think would have found themselves in way over their heads?

And how do you think that would have gone under similar circumstances in 1960? Or 1910? Or 1750? Or 1600?

Exactly the same, my friend, exactly the same. Taking loans one cannot afford is a time-honored tradition, as old as human nature itself. In previous times, people were at least dissauded by the threat of debtors prison or, you know, being maimed or killed. But no longer.

The other thing is that people overextended themselves in every other imaginable trying to make those mortgage payments once they ballooned (e.g. maxed out all their credit cards paying for other expenses).

The truly amazing thing to me is that people won't just walk away from their mortgage or stop paying before they'll max out their other credit trying to pay it.

[peterbound]

Never read comments posted below any video. They've become the equivalent of scribblings on a bathroom wall.

Ha, and the things said here are any different?

[awesome possum]

Ha, and the things said here are any different?

What has been said here? Especially regarding The Daily Show "nailing" that union official?

Unless you mean in general, which in that case the most troglodytish statements are pretty much always made by your ilk.

[Guest Raidne]

Ha, and the things said here are any different?

Generally? Yes, as different as they could possibly be. In this particular thread? Well, the case isn't as strong, but yes. Definitely yes.

By the way, are you serious? If I thought this place was really comparable to a bunch of youtube comments on various topics, I wouldn't spend a second here.