Riehl World View

Did It Dawn On Anyone?

2008-10-06T15:40:11-04:00

That a name so easily morphed into Cash n Carry might not be the best name for the dude heading up an office of financial stability? Just sayin' is all. h/t Mary

Oct. 6 (Bloomberg) -- The U.S. Treasury will name Neel Kashkari, assistant secretary at the department, to run the $700 billion Wall Street rescue program on an interim basis, according to a Treasury official.

Kashkari will be designated the interim head of the new office of financial stability, created in the bailout legislation Congress passed last week. The Treasury aims to buy troubled assets such as home loans and mortgage-backed securities from banks and other financial institutions in an effort to shore up global credit markets.

McCain Hits Dems, Obama On Financial Mess

2008-10-06T15:11:27-04:00

Update: It's on - damn!

All: Please see excerpt from John McCain’s remarks as prepared for delivery today in Albuquerque, New Mexico:

My opponent has invited serious questioning by announcing a few weeks ago that he would quote — “take off the gloves.” Since then, whenever I have questioned his policies or his record, he has called me a liar.

Rather than answer his critics, Senator Obama will try to distract you from noticing that he never answers the serious and legitimate questions he has been asked. But let me reply in the plainest terms I know. I don’t need lessons about telling the truth to American people. And were I ever to need any improvement in that regard, I probably wouldn’t seek advice from a Chicago politician.

My opponent’s touchiness every time he is questioned about his record should make us only more concerned. For a guy who’s already authored two memoirs, he’s not exactly an open book. It’s as if somehow the usual rules don’t apply, and where other candidates have to explain themselves and their records, Senator Obama seems to think he is above all that. Whatever the question, whatever the issue, there’s always a back story with Senator Obama. All people want to know is: What has this man ever actually accomplished in government? What does he plan for America? In short: Who is the real Barack Obama? But ask such questions and all you get in response is another barrage of angry insults.

It's about time. McCain starts attacking Obama on Fannie Mae and Freddie Mac. That significant portion of our current problem needs to be placed squarely where it belongs - on the Democrats in Congress and even Obama himself. He took their money, hired them for his campaign - he needs to be forced to own it, as he'll never take responsibility for anything left to his own device.

Our current economic crisis is a good case in point. What was his actual record in the years before the great economic crisis of our lifetimes?

This crisis started in our housing market in the form of subprime loans that were pushed on people who could not afford them. Bad mortgages were being backed by Fannie Mae and Freddie Mac, and it was only a matter of time before a contagion of unsustainable debt began to spread. This corruption was encouraged by Democrats in Congress, and abetted by Senator Obama.

Senator Obama has accused me of opposing regulation to avert this crisis. I guess he believes if a lie is big enough and repeated often enough it will be believed. But the truth is I was the one who called at the time for tighter restrictions on Fannie Mae and Freddie Mac that could have helped prevent this crisis from happening in the first place.

Senator Obama was silent on the regulation of Fannie Mae and Freddie Mac, and his Democratic allies in Congress opposed every effort to rein them in. As recently as September of last year he said that subprime loans had been, quote, “a good idea.” Well, Senator Obama, that “good idea” has now plunged this country into the worst financial crisis since the Great Depression.

To hear him talk now, you’d think he’d always opposed the dangerous practices at these institutions. But there is absolutely nothing in his record to suggest he did. He was surely familiar with the people who were creating this problem. The executives of Fannie Mae and Freddie Mac have advised him, and he has taken their money for his campaign. He has received more money from Fannie Mae and Freddie Mac than any other senator in history, with the exception of the chairman of the committee overseeing them.

Did he ever talk to the executives at Fannie and Freddie about these reckless loans?

Did he ever discuss with them the stronger oversight I proposed? If Senator Obama is such a champion of financial regulation, why didn’t he support these regulations that could have prevented this crisis in the first place? He won’t tell you, but you deserve an answer.

A Three-Fer

2008-10-06T08:20:43-04:00

Oh look, a Three Stooges re-run - circa 1997:

Ayers will be joined by Sen. Barack Obama, Senior Lecturer in the Law School, who is working to combat legislation that would put more juvenile offenders into the adult system;

One hundred years later, the system is "overcrowded, under-funded, over-centralized and racist," Ayers said.

Michelle Obama, Associate Dean of Student Services and Director of the University Community Service Center, hopes bringing issues like this to campus will open a dialogue between members of the University community and the broader community.

Barack Obama: Beginnings

2008-10-06T08:15:29-04:00

Link: It says here that Obama launched his political career at the home of the most famous of ’60s radicals, Bill Ayers and Bernadine Dohrn.

I tend to consider who was there at the beginning of things; like who was there at my wedding and who I was in the room with in Concord, N.H., when Wesley Clark signed the book to enter the primary race? And I mention them whenever it comes up. Beginnings mean something; beginnings mean that you have a primary affection and a symbolic relationship with a person or situation. Is this important? If John McCain and Sarah Palin kicked off their campaign at Ruby Ridge or Waco would it tell us something about them and their intentions?

McCain Just Doesn't Get It

2008-10-05T14:00:57-04:00

True, the charge that Palin is making a racially tinged attack against Obama for linking him to a couple of white guys, is bizarre. It would be embarrassing were it from a serious news bureau, but it's only the Associated Press. Now, keep in mind what McCain has done.

He said he wouldn't criticize Obama on Fannie Mae and Freddie Mac for fear it would come off as having class, or racially-based overtones. Just last night I was reading that he has forbidden his campaign from invoking Jeremiah Wright. And what is his reward? He's being accused of racism by an AP that wants to insulate Obama and scare McCain off from any future linkage of Obama to Jeremiah Wright.

McCain needs to come to grips with the battle field he's on today. His current strategy is a losing course. The Ayres and Rezko attacks are silly without some smoking gun. Too many voters today had a liberal college prof that might remind them of Ayres and they don't know or care about Weathermen that aren't part of their evening news team. The people who care about those issues, and I am one, are either already voting for McCain, or sitting this one out. Also, is the fact that Chicago is corrupt really news? Hardly.

Facts are facts, barring some major new information, there is only one lever McCain has available to push that can win him the Presidency. And if he would show some genuine leadership, as opposed to his currently misguided pride, he could do it.

The fact is, Obama is closely tied for a period of twenty years with Wright, who represents the worst of the African American community. He divides, causes blacks to hate whites and short of dolling out pennies while he raked in big bucks, there's very little if anything truly noble about the man. And Obama has no right to claim to be a saint, or even a post-racial candidate after playing Wright's game for twenty years.

That McCain either can't or won't take that issue on is going to cost him the election. And his prideful train wreck of a campaign is starting to get too ugly to watch. Great, John McCain gets to go back to the Senate with his pride and he'll be more than happy to accommodate the liberal Democrats just as he has done in the past - as if they'll need him, now.

We'll have the most liberal President and most liberal Democrat-controlled Congress America has ever had tilting America as far Left just as fast as they can. And McCain will have his pride with him on some back bench in Congress.

Thanks for your service, Johnny Mac - and I mean for your valiant and incredibly difficult time in Vietnam. When America needed you this time, I guess you were either too prideful, or perhaps too old to meet the call. That's understandable, really. And McCain shouldn't be run down for being the man that he is.

If it weren't for my disappointment over the alternative he's leaving us with, I probably wouldn't say anything about this at all.

Gloves Coming Off: McCain To Go After Obama On Associations, Honesty And Judgment

2008-10-04T02:17:58-04:00

Via The Washington Post - new ads being made, McCain said to be getting ready to turn up the heat on Obama. It certainly isn't too late given the way information flows today. There are still plenty of undecideds, suggesting Obama has not been able to close the deal.

A strong, consistent attack plan carried out over the remaining weeks certainly has the potential to change the race in enough key states for McCain to win.

Sen. John McCain and his Republican allies are readying a newly aggressive assault on Sen. Barack Obama's character, believing that to win in November they must shift the conversation back to questions about the Democrat's judgment, honesty and personal associations, several top Republicans said.

With just a month to go until Election Day, McCain's team has decided that its emphasis on the senator's biography as a war hero, experienced lawmaker and straight-talking maverick is insufficient to close a growing gap with Obama. The Arizonan's campaign is also eager to move the conversation away from the economy, an issue that strongly favors Obama and has helped him to a lead in many recent polls.

"We're going to get a little tougher," a senior Republican operative said, indicating that a fresh batch of television ads is coming. "We've got to question this guy's associations. Very soon. There's no question that we have to change the subject here," said the operative, who was not authorized to discuss strategy and spoke on the condition of anonymity.

Being so aggressive has risks for McCain if it angers swing voters, who often say they are looking for candidates who offer a positive message about what they will do. That could be especially true this year, when frustration with Washington politics is acute and a desire for specifics on how to fix the economy and fight the wars in Iraq and Afghanistan is strong.

OJ Simpson Guilty On All Charges

2008-10-04T01:58:12-04:00

Just breaking - going away for a long time. Remanded into custody awaiting sentencing. Kidnapping, robbery - every charge.

Reports say sentences will not run concurrent, likely going away for life - thirteen years to the day from when he was aquitted of the murder of Nicole.

A timeline of the case here.

If Accurate, Then McCain Is Done

2008-10-03T15:28:21-04:00

If this report via the McCain camp to US News, also citing Ace, is accurate, McCain's done. There is no such thing as "Straight Talk," if it's to be cowed by fear of being politically incorrect on matters of import. And if McCain isn't willing to call the Dems out on the incompetence and corruption that was and is Fannie Mae and Freddie Mac while defending Free Market capitalism - what good is having him as a Republican president? Frankly, I'd rather see Hillary drafted by the GOP at the last minute than see this nonsense for four years.

Nope, that is not going to happen Why not? 1) It is a complicated argument, and McCain is not good at making complicated arguments, not even about earmarks. (Note, additionally, his lack of defense of the war in Iraq during his debate with Obama. Amazing.)

2) There is a racial component to criticism of the Community Reinvestment Act that can make it sound like you are scapegoating minorities for Wall Street's problems.

3) The campaign believes McCain's time is better spent talking about taxes and energy and healthcare. Really.

Palin should go back to Alaska and bone up on Federal Issues and International Affairs, making it an interesting primary in 2012 if she's of a mind to run. At this point, if the Dems had nominated Hillary this race would already be over. But if McCain's strategy is to continue to insult the base, well, it's over now.

The Straight Talk Express is looking old and mired down in a bunch of liberal BS. I guess there shouldn't be any surprises here. It is McCain, after all.

Ugh!

What's Going On Here?

2008-10-03T14:53:41-04:00

Understandably, some folks are making a fuss about another Obama youth video from a school in Kansas City - a charter school, I believe. As disturbing as that might be, there are other serious questions at play here.

I looked up the ratings for this school with the para-military Obama video. No surprises unfortunately - relative to the district, it's been failing since it began years ago. I guess if you worship Obama there are no church/state/political issues either?? It's the Religion of "O." And I thought Oprah had that copyright.

That school receives tax dollars, I believe. And it seems to be an utter failure. See here and here. It looks as though it's been a sub-standard performer relative to the surrounding district since its inception years ago.

Is this school making adequate yearly progress (AYP)? ? No
AYP Consequence/Improvement Status ? School Improvement Level 3 - Corrective Action Year 1

Now marching around and chanting for Obama is going to turn this around? Give me a freaking break. A NewsBusters link here.

Apparently this Obama paramilitary video has also made others uneasy as you can see in these YouTube comments:

How about marching them over to a chair so they can sit down and begin to learn something of real value for Heaven's sake?

No Obama Choir Girl

2008-10-03T13:29:08-04:00

You may recall recent video of an Obama children's choir singing for the Dear Leader. Well, it looks like one little girl was shut out of all the singing. Maybe she wasn't "visual" enough, or didn't have that sparky glow that an Oba-kindern should have?

I don't know. But I think it ticked her off. See below.

Yahoo Goes Electioneering

2008-10-03T09:53:23-04:00

While I don't care for the current state of the race, Yahoo's new political dashboard isn't bad.

Fox Fact Check Is Wrong On Palin Quote

2008-10-03T05:17:52-04:00

Geez Fox, if you're going to run a Fact Check, it might help if you had your facts right, or at least didn't misinterpret a statement.

PALIN: "We cannot afford to lose against al-Qaida and the Shia extremists who are still there, still fighting us."

THE FACTS: She appeared to confuse the two main Muslim sects in Iraq. Al-Qaida is solely made up of Sunni Muslim militants. Through the course of the war, U.S. forces fought ferocious opposition from both the Sunnis and the country's dominant Shiite sects. Now, both groups are largely maintaining a cease-fire with the U.S. A much-diminished al-Qaida, mainly foreign fighters, remains the primary threat.

My impression isn't that she confused them at all but was simply drawing a distinction between the two.

Sarah Rocked: Sullivan - She Steam-rolled Biden

2008-10-02T22:57:31-04:00

Sarah rocked the house. Actually, I think she took the house and shoved it up the media's snout! heh

I had to look in to see what Andy had to say, him being her most deranged critic. He tried to dress it up, but inside ... he knows Biden lost. I guess he makes Ifill the "loser" because she didn't take Palin down. Actually, she did very well as a moderator, I think. The attention on her over her book probably helped.

9.23 pm. Biden is just dreadful. He speaks in Washingtonese. She just issues the soundbites and wrinkles her eyes and tells stories. And that works. The speed and chirpiness she delivers overwhelms one's ability to even quite absorb what she's saying. And it has put Biden off-stride. It's Biden who seems over-crammed.

10.30 pm. Biden's sobriety and authority and call for fundamental change is both reasonable and solid. It will resonate, I think. As you can read, I began this debate feeling that she was steam-rolling him. She was. But it was a steam-roller coming at you on fumes, not real fuel. She doesn't have it. Maybe one day she might. But not now. Biden's peroration was very, very strong. There is no contest here. There was only one loser: Gewn Ifill. She was intimidated, peripheral, neutered. The rules didn't help. But Ifill put in a dreadful performance.

Yeah, Andy has to spin it. But he knows the score. At least McCain now has a shot at coming back from where things were the last few days. But it's still up to McCain in the end.

Michelle Malkin: Sarah Rocks

Ace is celebrating and has some thoughts of what's coming next from McCain. Pass the rescue bill then hammer Obama on Fannie Mae and Feddie Mac? That makes sense. Remember, it is winning the final news cycles that matters most of all. One month out leaves time to turn things around, or for people to forget given the way information flows today.

Another Obama Crony Meets The FBI

2008-10-02T12:40:46-04:00

Twas a bright and sunny day when, according to Obama's website, Barack Obama had a picnic with a "longtime friend and colleague":

The family who owns the barn will hold a picnic with longtime friend and colleague of Senator Obama’s, former chair of the Illinois Senate Agriculture Committee, Larry Walsh.

But it's just a bit more cloudy now that Walsh has been visited by the FBI - lobbyists, Federal Funds? Who could have known anything about that? Who did they lobby, I wonder? And it gets slightly better, see below.

JOLIET -- Two FBI agents spent more than an hour in the Will County Office Building on Wednesday morning as part of an investigation into an elected official.

That person seems to be Will County Executive Larry Walsh. Matt Ryan, his chief of staff, also is part of the probe, sources say.

The official apparently is Walsh. Ryan has -- or had -- some relationship with Smith Dawson and Andrews, the lobbying firm hired in 2006 at a rate of $10,000 a month to help Will County snare more federal grants and funding. The association is related to his work with the lobbying firm Performance Communication Group.

... The lobbying firm has secured quite a bit of federal funding for the county, including money to clean up and modernize the water and sewer system in Joliet Township's Ridgewood neighborhood; to do engineering work at 143rd Street and Interstate 355; and to add laptop computers to the squad cars driven by Will County police.

A DUI? Not Obama's poker buddy, say it isn't so? That last link is an interesting read via WaPo btw. Obama likes tough, no-gloves campaigns. I hope he gets to see one from McCain, soon.

One regular, former Democratic state senator Larry Walsh, said Obama was competitive yet careful -- and always hard to read.

"One night, we were playing and things weren't going very well for me," Walsh said. "I had a real good hand and Barack beat me out with another one. I slammed down my cards and said, 'Doggone it, Barack, if you were a little more liberal in your card playing and a little more conservative in your politics, you and I would get along a lot better.'