Category: Accountability VS Shame and Blame

Accountability: With the future of CIT hanging in the ballance, several members of Congress parade themselves accross a stage …failing to realize the size, scope and impact of CIT’s failure.

God Forbid; Take a Lesson from a Review of the AIG of Yesterday and Today?

God Forbid; the Lesson from a Review of the AIG of Yesterday and Today?

Prefacing Comment to the Letter Below:

Taking a look back, two years ago …I sent out a short letter which commented on compensation in the wake of an AIG compensation party held at a resort hotel. This party went down shortly after TARP was passed by Congress …and all hell broke out in the wake of such an untimely opportunity to celabrate AIG recipients for their successes.

On March 18th, 2009, in response to this by measure of no lack of egregous, media-driven, political grandstanding, I sent out an e-mail which is a form of the letter that I have pasted herein below.

Two years later, I think these subjects are worth revisiting to remember the topics which surrounded every media story at the time.

And for one reason or another these issues preoccupied and permiated the American mindset …if, but for only a matter of weeks or so.

So, now …with th passage of two years’ time; I have to wonder how much honest esteem for such calls’ greater discretion remains?

And so, now again; I have to wonder what of any significance …has changed in the last two short years which have passed to cover over this subject’s matters and concerns?

Are the seeds of such concerns still growing? Have such produced any fruit multiplied 30, 60 or a hundred fold? Or is this a mute case of an old story gone passe in the wake of the Gulf …and now Japan? (They shoot horses; don’t they? How about Boy Scouts?)

Or did the seeds of blame and shame fall upon more than fertile ground …upon more futile stages or self-serving interests …merely failing to produce the needed wisdom in any significant abundance which would …could …and shouold serve the greater interests of all?

What work is to gain profit so few by taking a lazy and mindless course? Wouldn’t it follow that these more imediate pursuits will easily and soon forgotten?

Then, why not remember these shortcommings and …compare their woes’ measures’ lessons taken from a measure of a greater appreciation for a work whose wisdom and ethics’ mindful pursuits produce meaningful fruit?

So, then …in that which is intentioned to grow from long-lasting, applicable understandings within efforts …less lazy; why not embrace a look back in a meaningful comparison …if not merely to remember what preocupied our minds …if but for such a short time?

Therefore, in such a comparitively relative short period of time, I have to ask what has Congress to show for the passage of its time …in service to raise due diligence to a level …which is worthy of serving to provide greater oversight and higher …more nobler …more honorable levels of responsibility …and adherance to corporate governance in performance systems which demonstrates consideration for the priority of far more nobler assurances …those which strive to achieve to promote quality leadership by reason of adherance to high standards, transparency and the clarity of honest, open-door accountability?

In other words, other than our collective votes; what other enhanced ways and means of oversight has America acrued that serves to speak of improved achievable measures of oversight, safeguards …in openly improved levels of transparency?

G-7 Mutual Interests Confirmed Behind Closed Doors Trumps Fears of Quantitative Easing’s Demise …Paving Path to Temporarily Stabilize Treasury Yields in Continued Monetization Plan Led Down a Long Bond Road Called A Willingness to Preserve Capital

G-7 Mutual Interests Confirmed Behind Closed Doors Trumps Fears of Quantitative Easing’s Demise …Paving Path to Temporarily Stabilize Treasury Yields in Continued Monetization Plan Led Down a Long Bond Road Called A Willingness to Preserve Capital

On Three Day Garage Sales

Hello again!

I need to ask you for a little more patience and understanding.

I realize that I have all but, just about stretched your willingness to extend me any more accommodating forbearance beyond the reasonable limits of good prudence and logic.

Therein, please do not despair; yet I would like you to accept my indulgences in making one more urgent request regarding a most unexpected matter.

You see, while I’m continuing to have problems in that I am still struggling to handle and cope with my day to day and month to month financial obligations …some sequence of unforeseen and rather dire misfortunes have rocked my world recently.

You see; there just couldn’t be any worse timing for … true to my nature, I have some how (…once again) managed to spend way too much money this last month.

So, again …I guess that I am just going to have to hold another (treasury auction) garage sale …one more in a long string of on-going, huge, three-day garage sales.

However, this particular (treasury auction) garage sale is going to have to be different due to a variety of matters (quantitative easing not withstanding) whose issues have culminated to conspire against my lack of (Boy Scout/Girl Scout) preparedness …and has taken me totally off guard.

The Demise of QE-2

The Demise of QE-2

Oh, Really?

Speculation and QE-2 Go together like a horse and buggy.

Or was that …like a 1.64 Trillion Dollar deficit and a rather conflicted Federal Reserve?

Or was that like a 3.7 Trillion Dollar Budget and a rather conflicted Congress?

In view of the administration’s disdain for the express will of the people such as became manifest and more than abundantly clear last November…the question remains as to whether or not QE-2 is to go …or stay and become supplanted by what may become QE-3 is anybody’s question …or is it?

Unlike what would otherwise be like a deep black secret …the demise of QE-2 is anything but …beyond top-secret.

Instead, whether QE-2 is to stay or go …is something which Federal Reserve Chairman Ben Bernanke is not surprisingly …now, more than less …obligated to disclose openly to the likes of Congress …namely, to satisfy the likes of a more than entitled curiosity …the itchy ears …of the likes of those of Senator Ron Pall not withstanding.

Ben Bernanke; “…unsustainable debt …”

The following are two crisis words.

And …if there ever were two words today which have crisis written all over them …they are those uttered in Congress today!

The following two words which were those spoken loud, strong and clear.

The words were part of an address which characterized U.S. Public Debt as “…unsustainable debt …”

These two words came from The chairman of The Federal Reserve …Ben Bernanke today as the chairman spoke before members of The Senate Banking Committee.

Curiously, what I personally find as being less than sad is Congress’ lack of regard and esteem for tens of millions of voters who …last November, went to the pools to voice their collective, unified singleness of purpose.

By this Ben Bernanke was merely reaffirming the validity of the American voters who sent this massage earlier this last November.

Why should either the President and or Congress need one more man’s word to make the spirit of America’s will any more exact and any more unmistakably clearer?

As such, these two word’s stark reason and reality stand as a slap in my face …all in light of the light-weight approach to this administration’s budget proposal and the Republican-sponsored meager spending cut’s initial proposals.

Such as November’s voice was, such a will can not be allowed to be summarily swept under the rug …dismissed and otherwise marginalizing the will of the American people.

No Child Left …or Right; Get Behind Me!

The three year anniversary marking the release and launch of Obama campaign slogan rhetoric; “Yes We Can!” is quickly approaching and one thing America has realized is…

No We Can’t!!!

Who Me, Protest?

The following is the result of looking for data to support and build my case in a recent real estate tax protest I have filed.

Before you open the link below, read the following short explanation below first.

The following is a look at one of the 20 Metropolitan components which make up the Case-Shiller SPCS20R Housing Price Index. The SPCS20R is a 20-city composite index comprised of 20 major metropolitan areas in the U.S.
The index reflects upon the overall movement of housing prices across the nation in these twenty areas.

Skin for Skin

No disrespect intended, but if we choose to treat, take and make healthcare as much of a shipwreck as we did our housing, banking and financial systems as of late …then we are most assuredly on a fast track to certain failure …one which our forefathers sought to avoid by taking every one of the means, ways, and responsibilities which were available and also necessary at the time.

After all, PIGS We Are Not!

Today, I am taking a look back at a letter I wrote Friday, November 21, 2008 dealing with a principal commonly used in bankrupcy proceedings called Cram-Down.

It seems fitting to revisit it to achieve some degree of perspective in view of communities whose municipal bonds’ bond ratings are at risk in the face of of dwindling tax revenue.

And taken in perspective of TARP and various stimulus programs which have been walked through Congress under the pretext that their purpose is aimed at saving community jobs and services, I have to ask; as what point will America become like Germany …less than willing to support the pigs of Europe …those like Portugal Ireland/Italy Greece and Spain?

After all, are the PIGS …all that much different than any number of the hardest hit states here in America?

Without a doubt, The Germans have had to pay an exacting price to pay for reunification …not to mention what the PIGS’ bail-out may wind up costing the quality of their return on social investments.

So, tonight is an opportunity to visit the letter below while asking what are state and local governments doing to maintain tight budgets and exercise fiscal withstraint?

It seems to me that in the face of lowered property values …rising property taxes are a sad social commentary …one in which state and local community governance has thrown away prudence and reason in favor of the opportunity to ignor reality and the consequences of neglect …hoping that no one would take notice.

In that respect, I will introduce my letter by saying; “…pay no attention to the man behind the curtain …” You better pay your taxes, or they might just cram them higher property taxes down your throats.

Cram Down? vs. Higher Property Appraisals & Property Taxes?
Go Figure!
How does that translate to …Spending Cuts?
It doesn’t, does it!?