Reaction to Porkulus Bill

It didn't take long. We now see average Americans trying to get their share of this trillion dollar porkulus bill.

I thought this bill was suppose to create jobs. Oh wait... I see the logic now. As one person quits another gets their job. Good plan!

MADISON, Wis. (AP) - A restaurant worker was accused of trashing the place in an attempt to get fired and collect unemployment compensation. A criminal complaint filed Thursday said a 35-year-old man showed up at a Qdoba restaurant and started throwing brownies and cookies on the floor.

The man then went into the kitchen and threw pots and pans around, then went into a storage area and threw boxes of hot sauce on the floor.

Police said the man told them he was trying to get fired and couldn't collect unemployment if he simply quit.

Well that's not true anymore. I now understand this bill includes a provision allowing people to quit a job and still get unemployment if they quit for a "compelling family reason."

Serving brownies all day could be cause of serious mental anguish which in turn could cause problems at home.

This is unbelievable.

Iran Requests Obama Interview

Iranian State-Run News Agency says the request for an interview with President Obama is in response to Obama's recent statements seeking new opportunities to have dialog with Iran.

The Islamic News Agency's U.N. representative, Khosro Shayesteh told CBS News foreign affairs analyst Pamela Falk that they have requested the interview and are waiting for a response, saying that this would be a direct way for Mr. Obama to reach out to the Iranian people if he wants to begin a dialogue.

"The Iranian request for an interview with Obama comes at an opportune time for U.S.-Iran relations since both President Obama and Iran's President have offered to begin negotiations, which were stalled during the eight years of the Bush Administration, and because Obama gave his first official interview as President to Al Arabiya," said Falk.

Iran's president said the world was "entering an era of dialogue" and that his country would welcome talks with its longtime adversary, the United States, if they are based on mutual respect.

Ahmadinejad's announcement comes a day after Mr. Obama said his administration was looking for opportunities to engage Iran and pledged to rethink United States' relationship with Tehran.

"The Iranian nation is ready for talks (with the U.S.) but in a fair atmosphere with mutual respect," Ahmadinejad told hundreds of thousands of Iranians during a celebration marking the 30th anniversary of the Iranian Revolution that toppled the U.S.-backed shah and brought hard-line clerics to power.

Irresponsible Government Cause of Financial Crisis

With all the Bush bashing going on and the MSM covering up the real truth to get Obama elected, the socialist governmental programs of the past 30 years that created this mess were mostly hidden from the public till now. It was just too easy and convenient to blame Bush, and the liberal Barney Franks and company simply went along with the blame game to keep the finger pointing away from them.

Irresponsible behavior and financial unaccountability by our government and the fed was the cause.

The government's meddling got us into this mess.
By SCOTT S. POWELL

CONTRARY TO A VIEW POPULARIZED DURING THE 2008 presidential election season, the current economic crisis was not the result of deregulation.

The Bush administration made many mistakes, but deregulation was not one of them.

Not only was there no major deregulation passed during the past eight years, but the Bush administration and a Republican Congress approved the most sweeping financial-market regulation in decades.

The bipartisan Sarbanes-Oxley Act was enacted in 2002 to prevent corporate fraud and restore investor confidence after the collapse of Enron and WorldCom. It failed to prevent the accounting fraud and influence-peddling scandals at Fannie Mae and Freddie Mac. And even after those scandals were widely understood, regulators sent Fannie and Freddie back into the market to continue buying subprime loans, lending and borrowing with implied taxpayer backing.

Across the government, the Bush administration supported new regulations that added almost 1,000 pages a year to the Federal Register, nearly a record. If this is insufficient regulation, it's hard to imagine a scope that would be effective.

We are in this mess largely because critical thought and moral judgment have been subordinated to the politicization of our economy, resulting in regulatory gaps and excessive controls of the wrong kind.

Our present crisis began in the 1970s, during the Carter administration, with passage of the Community Reinvestment Act to stem bank redlining and liberalize lending in order to extend home ownership in lower-income communities. Then in the 1990s, the Department of Housing and Urban Development took a fateful step by getting the GSEs to accept subprime mortgages. With Fannie and Freddie easing credit requirements on loans they would purchase from lenders, banks could greatly increase lending to borrowers unqualified for conventional loans. In the name of extending affordable housing, this broadened the acceptability of risky loans throughout the financial system.

Carter and Clinton... No surprise here.

The risk lurking in the GSE portfolios was acknowledged in the Bush administration's first fiscal-year budget, released in April 2001. It stated that Fannie and Freddie were "a potential problem" because "financial trouble of a large GSE could cause strong repercussions in the financial markets, affecting federally insured entities and economic activity." Fed Chairman Alan Greenspan issued repeated warnings that the GSEs "placed the total financial system of the future at substantial risk." Such warnings went unheeded even after accounting scandals rocked Fannie and Freddie.

The collapse and government seizure of Fannie and Freddie in September 2008 ended the experiment in partial socialization of the U.S. housing sector. Before we try complete concentration of federal financial power, we should understand that power and political corruption abrogated moral judgment on every level.

The poor and middle class were encouraged to live beyond their means and buy houses they couldn't afford; speculators were lured into excessive risk-taking; banks were rewarded for lowering their loan standards; and Wall Street found new windfall profits from securitizing and reselling bad loans in bulk. With the support of regulators, credit-rating agencies provided cover for the whole charade.

Spreading Failure

There is plenty of blame to go around on both sides of the political aisle. But the lesson should be clear that socializing failed businesses -- whether in housing, health care or in Detroit -- is not a long-term solution. Expanding government's intrusion into the private sector doesn't come without great risk. The renewing and self-correcting nature of the private sector is largely lost in the public sector, where accountability is impaired by obfuscation of responsibility, and where special interests benefit even when the public good is ill-served.

George Washington also warned against excessive partisanship, which distracts public councils and enfeebles public administration. Rather than blaming the party in power or the party formerly in power, the nation should stop living in denial of the mistakes of both parties.

Spreading failure across the entire economy risks turning a recession into a depression. Regulatory reform now must foster responsible behavior and financial accountability. Far better for our citizenry and businesses to have a strength and resourcefulness that comes from creativity, honesty and self-reliance than to have a growing dependence on a profligate government.

And now we are going to fix it all with a Trillion dollar Shamulus package. I don't think so.

But I know this, the fools on the hill don't know. And that should concern all of us.