E!!

Don’t miss this Steyn piece on Joe the Plumber.  LOL

I am really busy with a few projects – researching voter registration fraud here in Nevada, researching a corruption story, writing a business plan - so I’m lifting good blogostuff for your enjoyment:

I Thought That Made Him Rich?    Jonah Goldberg [The Corner]

Ryan Lizza has a profile of Joe Biden in the New Yorker. Frankly, I barely  finished it. Normally, I think Lizza’s worth reading, but everything Biden tells Lizza in the one-on-one interview seemed like things I’d heard him say on C-Span a million times. I did, however find this bit amusing:

Biden happens to be one of the least wealthy members of the Senate, although his family’s joint income was more than three hundred thousand dollars last year. (His wife, Jill, has a Ph.D. in education and teaches at Delaware Technical & Community College.) His relatively straightforward tax returns and uncomplicated financial situation made the process easier. “All these years and you still have no money,” Obama said to Biden, teasingly.

I thought Barack Obama considers people who make more than $250,000 to be rich? I guess that only applies to normal people like plumbers and the like. Senators who only make a third of a million a year have “no money.”

posted on the Corner:  10/20 08:32 AM

From Ken Timmerman at Newsmax:

As Barack Obama reaped a stunning $150 million in campaign donations in September, bringing his total to more than $600 million, new questions have arisen about the source of his amazing funding.

By Obama’s own admission, more than half of his contributions have come from small donors giving $200 or less. But unlike John McCain’s campaign, Obama won’t release the names of these donors.

A Newsmax canvass of disclosed Obama campaign donors shows worrisome anomalies, including outright violations of federal election laws. For example, Obama has numerous donors who have contributed well over the $4,600 federal election limit. Many of these donors have never been contacted by the Obama campaign to refund the excess amounts to them.

And more than 37,000 Obama donations appear to be conversions of foreign currency.

According to a Newsmax analysis of the Obama campaign data before the latest figures were released, potential foreign currency donations could range anywhere from $12.8 million to a stunning $63 million in all. With the addition of $150 million raised in September, this amount could be much more….

Hat Tip:  Andy McCarthy @ The Corner

Dear Citizens:

If in your daily travels you see something funny, interesting, questionable, maddening, or just plain bizarre, please do the following:

Snap a picture or record some video  (whether with an old school, digital or phone camera).

Jot down some notes re: what you observe  (our memories are not as great as we like to think).

If possible, ask a few questions  (and then jot some more notes).

email E!!  (address on my Contact page)

If the picture and information you gather is worthy of note, I’ll post it on E!! with full credit – assuming, of course, that you WANT to be famous.  If not, I’ll protect your anonymity.

Example:  A Las Vegas reader recently emailed me about seeing someone registering voters at the West Flamingo DMV while sporting all kinds of Obama buttons/stickers.  This is a no-no.  If we had gotten a photo, and found out who this girl worked for, we could have done something about it.

As reported by the Reno Gazette-Journal. 

Here’s the Sun editorial.  And here’s the RJ piece.

When you have a little time to spare, treat yourself to the video from the Al Smith Dinner, a Catholic charitable event at which Sen.s McCain and Obama spoke.  (Link goes to a Kuo & Joe blog post at Culture11 which contains 4 clips from the dinner.) 

I agree with David Kuo:

“Watch these videos. They are extraordinary, truly extraordinary. We are ridiculously blessed to live in a country where two men who are fiercely opposed to one another are nevertheless able to set it aside for a night and laugh. It isn’t quite a miracle, but it is certainly a marvel. And if you have had to see countless political ads and three presidential debates, you owe it to yourself to watch these videos.”

McCain’s cracks about the Clintons are priceless (and hilarious), and Obama’s speech was funny from begining to end.  Bravo to the very gifted writers who put both presentations together.

Kathleen Parker chimed in on the Christopher Buckley thing.  A very well written piece, and I agree with much (though not all) of it.

Let me be clear that I have no issue with Buckley’s complaints against and dissatisfaction with the Republican party.  In these things I agree with him and am similarly disgruntled.

My criticism was not of the fact that Buckley left National Review; it was the way he left.

And, though his vote is his own, I don’t think it makes sense to show your disgust for the lack of conservatism in the GOP by voting for the candidate/party who has even less of it.

UPDATE:  As for the “shunning” of conservatives like Buckley, I have to agree with what Rich Lowry said just a bit ago, mentioning both Kathleen and Peggy Noonan:

In her Palin-centered column, Peggy says those “whose thoughts lead them to criticism in this area are to be shunned, and accused of the lowest motives,” and then cites Christopher’s resignation from his NR column as an example. Peggy is a busy person, so I suppose she hasn’t had time to notice that Kathleen Parker’s columns ripping Sarah Palin have appeared on NRO. That David Frum has aired his discontent with the Palin pick on NRO. That others of us—Ramesh and even me (between my occasional bouts of rhapsodic gushing!)—have criticized aspects of her performance. And that other writers on NRO have stuck up for Palin and pushed back against the critics. It’s called debate.

Now, I regret how some conservatives immediately question the motives of the critics of Palin, but it’s equally regrettable that Noonan, Parker et al are portraying most conservatives as irrational thugs. It makes you wonder: Who is really being overly emotional and deeply unfair in this intra-mural conservative debate? Which brings us naturally to Kathleen Parker’s column today. Read and judge for yourself. Is this calm, cool deliberation? Or hyperbole worthy of a peeved e-mailer? (By the way, I hate that Kathleen got any abusive e-mails at all; it’s a very unfortunate part of the world of the web. But hate e-mail goes both ways. I wouldn’t want to live for a minute with, say, Kathryn Lopez’s or Jonah Goldberg’s in-box on any given day.)

Finally, on Christopher, I already addressed it here. But he proffered a “sincere offer” of resignation of his column that he had taken up temporarily while Mark Steyn was on hiatus. It struck us as a win-win: Chris would get out of a column we thought he wanted out of; we’d get Mark Steyn, who had recently returned to writing, back on our back page. We never imagined Chris would feel he’d been “fatwa-ed.” In any case, Chris is still on NR’s board, and is welcome to write pieces for us going forward, which I’m hoping he’ll do after everyone, very much including the Noonans and Parkers of the world, takes a deep breath.

And BTW, I posted on what Peggy Noonan said earlier over at Culture11‘s LadyBlog.

NPRI has posted an easy to look at historical graphic of the housing crisis here in Vegas, complete with circles and arrows (ok, just arrows).

.

From Americans for Tax Reform

Five Things You Might Not Know About Obama’s Small Business Tax Hikes

WASHINGTON, DC— Americans for Tax Reform today released the following “top five” facts related to the Obama tax hike on small businesses:

1.        Two-thirds of small business profits are earned in households making more than $250,000 per year—the very households Obama is shouting from the rooftops that he will raise taxes on (Source: IRS Statistics of Income Bulletin*).  Small business profits are used to create jobs and invest in America .  This is the answer to the Obama campaign’s irrelevant claim that the number of small businesses affected will be small—the fact is that the bulk of profits will face a tax hike. 

2.      Small businesses pay income taxes at the household level.  This means that the Obama plan to raise tax rates is a direct tax hike on small businesses—sole proprietorships, partnerships, S-corporations, and family farms.

3.       The tax rate on the lion’s share of small business income could reach 54.9 percent under a President Obama (the individual top rate will climb from 35 percent to 39.6 percent and the Social Security/Medicare tax rate could climb from 2.9 percent to 15.3 percent.  Put those together, and you get 54.9 percent) (Source: www.barackobama.com)

4.      This 54.9 percent tax rate would be the highest since the Carter Administration, when America suffered through double-digit inflation and unemployment (Source: Congressional Budget Office)

5.       America’s 26 million small businesses employers give a paycheck to 116 million employees (Source: Census Bureau).  When small business taxes go up, millions of these employees will be at risk of being laid off.

“Obama’s tax increases will only affect you if you have a 401(k), have any savings, buy things from small businesses or are looking for a job,” said Grover Norquist, president of Americans for Tax Reform.  “If you fall into one of these categories, his policies will screw you.  Otherwise, you’re fine.”

* “Small business profits” is equal to the net profits less net losses of sole proprietors, S-corporation shareholders, and partners.  According to the IRS, two-thirds of these small business profits are earned in households with adjusted gross income (AGI) equal to or greater than $200,000.  In 2006, $473 billion of the $706 billion (two-thirds) of small business profits was earned in households Obama has said he would raise tax rates on.

This post on the values of capitalism over on Overcoming Bias is just excellent.

It starts with this quote:

“The financial crisis is not the crisis of capitalism.  It is the crisis of a system that has distanced itself from the most fundamental values of capitalism, which betrayed the spirit of capitalism.”
        — Nicolas Sarkozy

and includes gems like:

The fundamental morality of capitalism lies in the voluntary nature of its trades, consented to by all parties, and therefore providing a gain to all.

and

Vigorous work is praiseworthy but should be accompanied by equally vigorous results.

and

No one has a right to their job.  Not the janitor, not the CEO, no one.  It would be like a rationalist having a right to their own opinion.  At some point you’ve got to fire the saddle-makers and close down the industry. 

and

No company has a right to its continued existence.  Change happens.

and

A high standard of living is the just reward of hard work and intelligence.  If other people or other places have lower standards of living, then the problem is the lower standard, not the higher one.  Raise others up, don’t lower yourself.  A high standard of living is a good thing, not a bad one – a universal moral generalization that includes you in particular.  If you’ve earned your wealth honestly, enjoy it without regrets.

and

People safeguard, nourish, and improve that which they know will not be taken away from them.  Tax a little if you must, but at some point you must let people own what they buy.

and

In countries that are lawful and just, the government is the referee, not a player.  If the referee runs onto the field and kicks the football, things are starting to get scary.

and

Making money is a virtuous endeavor, despite all the lies that have been told about it, and should properly be found in the company of other virtues.  Those who set out to make money should not think of themselves as fallen, but should rather conduct themselves with honor, pride, and self-respect, as part of the grand pageantry of human civilization rising up from the dirt, and continuing forward into the future.

Amen!

This community organizer position is paying $35,000 to $45,000 plus benefits. 

This morning, Culture11′s James Poulous called Yuval Levin “one of the sharpest tools in the conservative shed” and provided a link to this piece on why John McCain is a better choice than Obama.

I cheerfully admit to being biased toward all things Levin - you can see what I mean over at The New Atlantis - but the piece is well worth reading even for non-admirers.

I am pleased to have been invited to join the Voter Integrity Project and the publishers of Ballotpedia in a non-partisan effort to help the American voter report and expose incidences of vote fraud and vote suppression, in order to ensure a more fair, open, and democratic election process.

We are now recruiting citizen journalists and bloggers in Nevada and elsewhere.  If you are interested in helping report, document, and deter voter fraud, please contact me ASAP (see my Contact page). 

Your level of involvement could range from calling or emailing me with Tips between now and election day, to joining our Twitter feed #voterfraud, to texting alerts, to taking photos and video to be uploaded on Flika, to blogging on our VoterFraudSquad site.

A number of concerned readers have inquired about the Civility/Comments post.

No, I have not received any death threats.  There was, however, a rather nasty (and untrue) comment posted yesterday, and I deleted it.  Which is my prerogative as Queen of this tiny blogdom.  This is not a democracy, and I don’t have to tolerate Nonsense if I don’t wish it.

Note to that commenter, since I’m typing this:  I am nobody’s Yes Girl.  I agree and/or disagree with whomever, whenever, and however I please, based on my values and the facts at hand.

As I said, I don’t mind disagreement – even in the extreme – but readers need to state their case rationally and decently.

Apt Quote – an E!! Favorite

I wish that I may never think the smiles of the great and powerful a sufficient inducement to turn aside from the straight path of honesty and the convictions of my own mind.” — David Ricardo, The Works and Correspondence of David Ricardo, Vol. VII, p. 372

Here is a graphical depiction of the connection(s) – and dollar amounts that passed – between: 

George Soros, MoveOn.org, the Chicago Annenberg Challenge (CAC) project, the Woods Fund, Bill Ayers, ACORN (its housing division as well as voter registration group), Project Vote, Barack Obama, Fannie and Freddie, Johnson, Raines, and various senators and congressmen including Chris Dodd, Chuck Schumer, and others.

All of this information is on record and verifiable. 

Even if you look at each connection in the most positive light possible, the thing as a whole is an eye opener.  If you’ve never understood or believed in the the possibility of a Vast Left Wing Conspiracy – or, if you prefer a nicer couching of things:  the possibility that activists on the Left have tremendous Power and wield it in ways that are often overlooked – now may be the time to reconsider.

If you want to Do Something, pass this on!

Opposing viewpoints and criticisms are welcome, but nasty remarks will be deleted.  State your comment or case with some civility – preferably citing facts and examples - or be silent. 

(And if you can’t be intelligent, at least be funny.)

As Jay Nordlinger would say, some pointlets:

Joe the Plumber, forget owning your own business:  you are now teed up for your own hit reality show.

Obama is now “Senator Government.”  Brit Hume said he thought it was a slip.  If so, what a great slip.  If not, brilliant.

Schieffer asked a couple of pretty good, hardball questions tonight.  And stayed quiet when he should have.  He was way better than the other two moderators, I thought.

Loved McCain’s “I am not George Bush” bit.  About time.  But too little too late?  Why has the McCain team been so poor at communicating?  Ironically:  they share that failure with the Bush administration.

On economics and taxes, why didn’t McCain mention his new thing this week:  cutting the capital gains tax to 7.5% from 15% plus a bigger capital loss write-off – ?  They are pro-growth policies and important.

Obama gave ONE example of something specific he would cut, and I can’t even remember what it was now.  McCain listed at least half a dozen things.  Brownie points there for having thought about it.

Loved it when McCain bashed the very bashable ethanol subsidies.  He did well on energy, I thought.  Liked the detail on nuclear energy and reprocessing plants.  Liked that he called Obama out on “we’ll look at it” comment re: drilling (which in polspeak means we’ll do absolutely nothing).

McCain FINALLY hit Obama on all the false/negative ads on his health care plan.  A $5,000 tax credit is more than anyone’s getting now, and the benefits tax would be nominal in comparison.

Why did Obama keep smiling and laughing when McCain was hitting him hardest?  It seemed odd.  A serious, indignant look would have been more effective.  And normal. 

McCain listed a few of Biden’s wrong judgments on foreign policy including the “cockamamie” idea of splitting Iraq into three parts; good.

McCain brought up ACORN, and that was good.  But he should have given more specifics.  ACORN has been investigated, and has had employees indicted and incarcerated, for the same kind of voter fraud they are perpetrating this year, yet Obama’s camp still gave them big bucks, and still defends them.  There are other ACORN ties as well, and I bet most voters don’t know about them.

I wish McCain were better at narrative.  There are connections that could be made, a story that could be told, of who Obama is and where he came from and where he will surely lead us.  It’s clear to most of us who have been reading and doing our homework, but the average American probably does not have a cohesive picture of the whole thing.  (I’ll try to find that flow chart thingie I saw the other day.)

Sum up:  McCain did much better than in the other debates because he had some fire and said things we hadn’t heard umpteen times and went after Obama more on legit points; and Obama did a little worse than previously because he reverted to talking points when flustered and because of the weird laughing thing. 

I think McCain won by a little, but not sure it’s enough.

For more on the Christopher Buckley thing, here’s his latest post, and Rich’s note on The Corner yesterday.  (Don’t miss the part where Buckley changed the header of his post from the patently dishonest “I Was Fired” to the fully accurate ”Buckley Bows Out”)

Here’s my three cents:

(1)  Those who cancelled their subscription to National Review over this matter are being silly. The magazine’s value is not negated by what any one contributor (or ex-contributor) does or says on any one day. NR is more than a great conservative political journal; it his an American Icon. You’d no more stop reading it than you’d swear off apple pie and ice cream.

(2)  It appears that Christopher Buckley is exaggerating all over himself in an effort to create a stir and invite publicity as he breaks away into his brave new world.

What does Christopher mean by saying that Rich Lowry “rather briskly” accepted his resignation and that he is saddened by the “disavowal”?

Does he mean there was not a satisfactorily lengthy pause preceding Rich’s agreement to his departure?  Was Christopher’s ego disappointed at not receiving the expected number of murmured regrets and “it’s a damn shame”s?

Or did he think, as I suspect, that his resignation would not be accepted?  Was the act more a gesture than a genuine offer, and is he now in a snit because Rich and Jack Fowler had the ill manners to take him at his word?

Regardless, to say there was/is “acrimony” on the part of NR is surely going too far. I’ve seen nothing but friendship and warmth extended Buckley’s way from everyone at NR and on The Corner, so the insinuation that there is an air of rancor and animosity feels like Complete and Utter Nonsense.

(3)  There is much more that could be said in re: to Christopher’s comments about WFB’s occasional support of liberal Democrats (all far better men than Obama appears to be), rigorous standards of candor (which Junior seems to be lacking), and independence of thought and action (which were genuine and never for show).

But, it is all well known. WFB was a singular man. He was always himself, and never embarrassed or dishonored his friends (or even his enemies) by being small of heart or deed.

The son does not honor the father with all this elaborate and unpleasant flailing around.  A graceful exit would have been a more fitting tribute to the man we all loved…and miss terribly in these difficult days.

(UPDATE: Anne of Idaho, who is reading D.H. Lawrence, sends an unrelated yet serendipitous quote.

“And he began to feel, coldly and cynically, that among all her distress there was a luxuriating in the violent emotions of the scene in hand, and the situation altogether.”

Re-stated: Christopher Buckley is being a drama queen, and it is causing me to feel more indifferent to his plight than I otherwise might.)

According to Yahoo! Finance, Nevada is behind only California, Arizona, and Florida in terms of total state budget shortfall.

Nevada’s budget gap is 16% of the total state budget or $1.2 billion.

Nevada has the worst foreclosure rate in the nation, and falling tourism and gambling revenues has slowed the economy dramatically.

A special legislative session in June resulted in budget caps and cuts, but it’s quite likely another special session will have to be called – after the elections in November.

From one of Steyn’s Corner posts today:

Senator Obama famously shrugged off William Ayers as just a guy in his neighborhood. In a way, that’s right. The Ayers/Obama connection isn’t about the Senator’s social life, it’s about where he lives, politically speaking. Ayers’ Weather Underground grew out of “Students For A Democratic Society”, as did ACORN. Today, Ayers and his fellow “educators” are engaged with considerable success in radicalizing the next generation of Americans. But, if that doesn’t work, ACORN has a fallback strategy.

What does ACORN do? It steals elections:

In Lake County, Indiana, ACORN turned in 5,000 new registrations. The authorities there started reviewing them, and quit after they found that the first 2,100 were all fraudulent. The mind boggles: ACORN turns in thousands of new registrations, and not a single one represents a legitimate voter.

Who does ACORN steals elections for? Ah, well, that’s a little harder to figure out from the CNN report. But the Obama campaign gave 800 grand from its many illegal foreign contributions to ACORN.

There is something ridiculous about this country’s approach to elections. If a Swedish businessman flies in for a one-day meeting in New York, he’ll undergo a retinal scan at JFK. But, if that same businessman decides to stay on a day or two, he can wander into half the polling stations in America and cast an illegal vote more or less with impunity. We have retinal scans at the airport because it’s a national security issue, but in elections it’s ”racist” or “discriminatory” to require a driver’s license, passport or even proof of corporeal existence. The integrity of the ballot box is, ultimately, also a national security issue. ACORN has now registered approaching one and a half million “voters”, not in Utah or in Massachusetts, but in those key states where this election will be decided. They have more than enough to change the result.

10/14 08:21 AM

E!! Note:  If you live in Nevada, you should care about this.  ACORN is under investigation here, too.

Written Friday night, soon after scanning the latest polls and reading that Chris Buckley is casting a vote for Obama:

Rich ~ I ask your indulgence with this entire email.  I know we don’t know one another and that a handful of emails from me to you over the years, and you occasionally responding “thanks,” don’t really justify what is to follow.

But, you are the editor of National Review, and tonight I am a distraught conservative, so here it is:

I got tears in my eyes reading Chris Buckley’s whole post.

Chris seems cheerful enough about all this, so it’s not for him I cry. His dear father is no doubt quite content (and causing some kind of harmless mischief) in the great Hereafter, so no need for tears there.

I feel a sense of grief and loss; what is it…?

Chris Buckley is wrong; of that I am sure; but still it feels sad.

It seems to me that the splintering of the conservative movement, and its mixed political fortunes, and a sort of crisis of identity, have led us here. Fractured, floundering, weak, perhaps conservatism no longer knows what It is and so cannot inspire and compel as it once did. (I am so tired of talk of the Big Tent…)

It seems to me attempts at fusionism have (so far) failed: if McCain is the prototype and/or product, surely we must admit that? Chris Buckley admits it, with gusto: he now throws his hat in the ring for the uber-liberal senator from Illinois, saying Obama is preferable to the inauthentic and often unconservative McCain.

Is Obama to be elected and are we conservatives to be banished to the fringe, then, as we once were? For decades the establishment ignored us. Only because of Bill Buckley and then with Reagan did history really take note.

But what principle, what policy, what politician, what philosopher will unite us now?

From 1944 to 1991 we were held together by the glue of anticommunism. Barry Goldwater tried to carry the torch onward; Frank Meyer’s fusionism attempted the same and seems to live on in the postmodern pursuit of authenticity through freedom and virtue.

But. An inclusive doctrine – which conservatism has become – though seemingly practical, can lend itself to problems. Indeed, can anyone deny that we have landed ourselves in quite a spot?

When someone like Chris Buckely throws all hierarchies out the proverbial window and says he is voting for Obama, what then?

Has the postwar conservative intellectual movement lost its way; will it now become unrecognizable?

What has become of American conservatism?

NV Congressman Dean Heller is holding his lead over challenger Jill Derby. 

Heller voted against the $700 bailout bill (twice) and has consistently complained about the spendy RINO (Republicans in name only) in D.C.  Heller represents our second district, which encompasses most of rural Nevada.  A little history:

Heller announced his run for the House in 2005.  He won the GOP primary for the seat being vacated by Jim Gibbons who was then running for governor.  In the primary, Heller received 24,781 votes to Sharron Angle’s 24,353 (squeaker!) and, interestingly, to Dawn Gibbons’ (yes THAT Mrs. Gibbons) 17,328.

In the general election, Heller defeated U of NV regent and Dem candidate Jill Derby by about 5%.  Although he lost Washoe County/Reno, he won in the rural areas by a margin of over 2-1 and took the election by over 12,000 votes.

Check out this page at the National Rifle Association for grades on the records of Nevada’s political candidates in re: to gun rights and Second Amendment issues.  Includes our elected officials in D.C. as well as the state senate and assembly.

 As John Fund of the WSJ is so fond of saying, it is very likely that Election Day is going to turn into election month.  Fifteen thousand lawyers have laptops:  will travel.  

 How long it will take all these attorneys to wade through the voter registration fraud problem in 10+ states is anybody’s guess.  (There’s a punchline in there somewhere.)

 As I wrote last week, ACORN’s Nevada offices were raided by federal law enforcement as part of a voter registration fraud investigation. Among other violations, ACORN-Las Vegas allegedly employed felons in their voter-registration projects not to mention filing gobs of bogus registrations.

 Here and in other parts of the country, multiple voter-registration applications have been filed for single voters; voter registrations have been filed for dead, underage, imprisoned, or ineligible voters; identities have been manufactured and/or signatures have been forged and/or addresses have been faked on registration cards; and in some voting districts, registration now stands at more than 100% of the voting-age population.

 And what else else would we expect from ACORN and similar groups, really, since they pressure their workers with aggressive registration quotas?  Such tactics are bound to breed corruption. 

 We are already in a mess for this election, but for next time:  why not simply pass a federal law that all voters must (1) register at least 90 days prior to the election and (2) show a valid photo ID at their voting location? 

 This would give election officials the time they need to weed through any fake registrations, and give election monitors the opportunity and means to verify who is standing in front of them.

In re: to Sen. Dodd’s claim that he thought his Countrywide VIP status was a “courtesy” and didn’t mean he was getting anything that special, check out this WSJ piece. 

A former Countrywide Financial loan officer, Robert Feinberg, has come forward saying Dodd knowingly saved thousands on his 2003 re-fi’s as “part of a special program the California mortgage company had for the influential.” 

He says he’s in possession of internal company docs proving Dodd knew full well he was getting very preferential treatment as a “Friend of Angelo” Mozilo, Countrywide’s then-CEO. 

From the WSJ piece:

“People are referred into that department as ‘very important people.’ You’re told that your loan is priced from Angelo. As the ‘Friends of Angelo department,’ [the department] has to give them a sense of importance and explain the reduction of fees and the rate as a result of being a ‘Friend of Angelo,’” [Feinberg] says. According to a report by Dan Golden in Condé Nast Portfolio in August, other VIPs included Senator Kent Conrad. Mr. Golden reported that “Countrywide also offered special discounts to congressional staffers involved in housing issues.”

As to Mr. Dodd, Mr. Feinberg says he spoke to the Senator once or twice and mostly to his wife and that like other FOAs Mr. Dodd got “a float down,” which means that even after he had a preferred rate, when the prevailing rate dropped just before the closing, his rate was reduced again. Regular borrowers would pay extra for a last-minute adjustment, but not FOAs. “They were aware of it because they were notified and when they went to the closing they would see it,” Mr. Feinberg says, adding that he “always let people in the program know that they were getting a very good deal because they were ‘Friends of Angelo.’”

And:

One indicator of [Dodd's] influence is the $165,400 in campaign contributions — more than to any other politician — that Fan and Fred have given him since 1989, according to the Center for Responsive Politics. These contributions are legal.

But favors like those Mr. Dodd is alleged to have received may not be.

Mr. Feinberg says he went public with his story because when he heard Senator Dodd on TV talking about predatory lending, he felt it was “hypocritical” and he says, “I just thought, ‘This is wrong.’”

Byron York nails down some Ayers stuff and explains why Ayers and Dohrn “don’t remember” so many things.  Unbelievable that this guy is a U of CHI professor and sits on Boards galore.

Apparently the peeps back in Massachusetts are considering getting rid of the state income tax.

Didn’t believe it myself until I read this (very biased) Globe piece which confirms that Question 1 is indeed on the ballot, that it would completely abolish the state income tax, and that the last time around (2002) the measure got 45% of the vote.

If approved, the state income tax would be cut from 5.3 to 2.65 percent on Jan. 1, 2009 and then be abolished a year later.

The usual suspects are opposed to the measure, citing concerns about the loss of tax revenue and the subsequent “catastrophic” cuts to “needed” services.  

Taxaholics always warn of the rapid decline of schools, roads, and public safety if voters dare to abolish taxes.  They paint a dire picture of social disintegration:  your kids will suddenly become uneducated boobs; you’ll have to drive a covered wagon to work on a dirt road; and your town will be plundered by Viking marauders.

Or, as supporters of the measure say, Beacon Hill will be forced to find more efficient ways to achieve what really matters and cut unnecessary spending. 

Currently, seven states manage to avoid sliding into total anarchy while imposing no income tax:  Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.  Additionally, New Hampshire and Tennessee limit their state income taxes to dividends and interest income only.

(Hat Tip on Question 1:  My friends at the Americans for Tax Reform blog)

Victor Davis Hanson is always worth the read.  Today’s column is on the basic lessons we can learn from the financial mess.

An excerpt:

The new national gospel became charge now/pay later and speculate, rather than put something away in case of a downturn. To provide more goodies that we hadn’t earned, politicians ignored soaring annual budget deficits and staggering national debt and kept spending.

The lessons:

First, cash really is king. For all the talk of a trillion here or billions there, when the crunch came, many of these investment houses and their once-strutting managers found themselves with a minus net worth. They were desperate to find liquidity — any money anywhere they could find it. Pedestrian passbook savings accounts proved wiser investments than all the clever hedge funds, derivatives, and sub-prime schemes put together.

And:

Second, wisdom and blue-chip college educations are not quite the same thing. The fools in Washington and New York who blew up Wall Street had degrees from our finest professional schools.

And:

Third, we as a nation need to relearn the old notion of shame — as in “shame on you!” Firms like Lehman Brothers and Bear Stearns were once responsible Wall Street institutions, built up over decades by sober men. But their far-lesser successors in just a few months have bankrupted these venerable brokerage houses — with seemingly no shame at what they have done to the image of Wall Street.

Americans used to pay their debts. Somewhere in all the blame-gaming about the crooks and liars in New York and Washington, we never hear that real people borrowed real money that they should not have. And they then defaulted on what they owed to others. Walking away from debts may have been understandable, but it was also a violation of trust — and wrong.

My Uncle David, who lives in the state with the best motto – Live Free or Die – just forwarded this to me; I assume it came to him the same way (not sure the source).

CEO –Chief Embezzlement Officer

CFO– Corporate Fraud Officer

BULL MARKET — A random market movement causing an investor to
mistake himself for a financial genius

BEAR MARKET — A 6 to 18 month period when the kids get no
allowance, the wife gets no jewelry, and the husband gets no sex

VALUE INVESTING — The art of buying low and selling lower

P/E RATIO — The percentage of investors wetting their pants
as the market keeps crashing

BROKER — What my broker has made me

STANDARD & POOR — Your life in a nutshell

STOCK ANALYST — Idiot who just downgraded your stock

STOCK SPLIT — When your ex-wife and her lawyer split your
assets equally between themselves

FINANCIAL PLANNER — A guy whose phone has been disconnected

MARKET CORRECTION — The day after you buy stocks

CASH FLOW– The movement your money makes as it disappears
down the toilet

YAHOO — What you yell after selling it to some poor sucker
for $240 per share

WINDOWS — What you jump out of when you’re the sucker who
bought Yahoo @ $240 per share

INSTITUTIONAL INVESTOR — Past year investor who’s now locked
up in a nuthouse

PROFIT — An archaic word no longer in use