On Friday, Newsweek.com's Conventional Wisdom gave an approving up-arrow to Congress for brow-beating Detroit auto executives. The magazine lauded the Democratic Congress for having "rediscovered what oversight means."
But what a difference four days make. The December 9 Conventional Wisdom lambasts the notion of a federal auto industry "czar":
Car Czar The only thing less comforting than the management of Detroit's Big Three is the thought of having Congress in the driver's seat.
Editor at Large
Comments Policy
→ Please wait, Congress
Tue, 12/09/2008 - 15:46 ET by Cool ArrowCongress, please wait one more day before you make your Welfare announcement.
My target stock is 2% down right now, and it's going to jump 3% like all ot the DOW 30 when you make the announcement.
Congress, I thank you for all the predictable moves you've made in the last two months. It's better than insider trading.
Just hold off for another hour and a half before you do all your chest thumping.
Besides, Blago is going to dominate your parade today unless you go above the $30 million.
No, Ken, you missed the
Tue, 12/09/2008 - 15:47 ET by HockeyKidNo, Ken, you missed the point. Newsweek is OK with the IDEA of a "car czar"; they just know it's bad to call it that--makes it harder to sneak the idea past the public.
"Beauty is only skin deep, but liberal's to the bone." - me
Hey - I Have an Idea
Tue, 12/09/2008 - 16:02 ET by HoosierEmHow about we sit the idiot politicians down at the same table as the car executives and berate and embarrass them? Where is that pesky little lockbox with our social security dollars in it? Why do you, Nancy Pelosi, fly back and forth to SF in a jet paid for by taxpayers?
I have many more questions - feel free to add your own.
It's very amusing and ironic to watch people like Chris Dodd and his pals grill and annihilate private business people. The only thing sadder is watching the CEOs put themselves in the position to be embarrassed by politicians who couldn't manage a business if they had to.
Democrats never met a tax dollar they didn't like.
"Senator Dodd, how much
Tue, 12/09/2008 - 22:47 ET by HockeyKid"Senator Dodd, how much money did you or your campaign receive from Fannie Mae and/or Freddie Mac?"
"Senator Dodd, how much money did you save on sweetheart mortgage deals arranged through 'Friends of Alonzo' program at Countrywide/IndyMac?"
"Congresswoman Pelosi, why haven't you sued your plastic surgeon for malpractice? Was the work payback for political considerations?"
"Congressman Frank, how far up your posterior did you have to shove your head to think that there were no problems at the GSEs?"
Carry on...
"Beauty is only skin deep, but liberal's to the bone." - me
Newsweek: transition from newsmagazine to “thought leader"
Wed, 12/10/2008 - 07:16 ET by Rush FanFoliomag.com reports that due to increased costs, Newsweek is contemplating a dramatic drop in circulation.
The funniest part of the Folio article is this:
Aside from the cost of maintaining such a high circulation, Newsweek
would like to transition from newsmagazine to “thought leader,”
something more akin to the Economist. “[Editor Jon] Meacham and [Time
editorial director Richard] Stengel are both infatuated with the
Economist,” the source said.
-----------------Thought for today---------------
Save your money - someday it may be worth something.
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Camille Paglia, one of the few liberals with common sense, has an excellent article ravaging the Clinton's and defending Sarah Palin titled:What do the Clintons have on Obama?
New economic stimulus plan
Wed, 12/10/2008 - 11:30 ET by HumblepieI really hate throwing money away, but, since Congress has a hole burning in their pockets and want to spend our money. I have a suggestion for a economic stimulus package that should make everyone smile.
Keep the $725 billion we're going to spend shoring up business that either need to go away, or, let them file bankruptcy.
Figure there is roughly 200 million U.S. citizens currently in the United States. Give everyone $10 million. That will work out to about $2 billion (saving about $723 billion so far). Now, here's where the fun begins.
Since everyone is well about the threshold, we can do away with all social programs (welfare, food stamp, etc). This should save about $200 million a year. Even do away with Social Security and make everyone responsible for their own wealth. This would save even more per year.
Before sending out the checks, tax it at 40%. You would actually receive $6 million out of the original $10 million. Thats $800 million the government just saved.
The original $2 billion investment could be paid off within 15-20 years.
Since most people are creatures of habit, the following could be expected. Credit card bills, mortgages, etc, would be paid off providing additional income to those business. Consumer spending will increase across the board thereby stimulating all business sectors. Yes, there will be some price gouging for a while, but smart investors will wait it out or look for the best deal.
The recession would be virtually over, the government saved $723 billion and the people would be happy with the redistribution of wealth. Best of all, we would be able to literally get rid of the FDR social programs overnight.
Like I said I hate to just give money away, but, $725 billion vs $2 billion (with a payoff in 20 years max) sounds like the better idea. And goodbye to all social programs.
Just a though.
Quick! The gene pool needs more chlorine.