July 31, 2008
Thanks for nothing, Todd Staples
Well, we have yet another issue where Todd Staples, our ertswhile Agriculture Commissioner has dropped the ball. In the Statesman today, the 'tomato' salmonella outbreak has been traced back to growers in Mexico that supplied (you had to see it coming) Texas companies with peppers that carried the disease.
The CDC and USDA are catching hell for it, but so far nothing has penetrated through to the Texas Dept. Of Agriculture which must share some of the blame. It's not like they didn't know about questionable irrigation and growing practices in Mexico... in 2006, Hank Gilbert, then Democratic candidate for Ag Commissioner talked about JUST THIS THING.
Of course, Staples was distracted with finally doing the part of his job with regard to gas pumps. After being in the office for 18 months. Maybe he'll do something about tainted, diseased produce sometime in 2010.
Way to fail Texans, Todd.
Posted by mcblogger at 01:22 PM | Comments (2) | TrackBack
Oh, Gardner... this is just...
Oh, and Bob... we'll miss you deciphering the ramblings of that deranged lunatic. Honestly, your boss is a massive fuckup on the scale of Little Big Horn. You've done an admirable job defending the indefensible. We wish you well.
Posted by mcblogger at 11:36 AM | Comments (0) | TrackBack
Loving 101X
I got up kinda late Saturday morning. OK, REALLY late. I was at a church thing the night before. Or having drinks with some great friends. You pick which one you believe/would rather believe.
So, Saturday I was awakened by my trusty alarm and heard some intern talking about this great song that she loves.
That intern has some good taste. Thank you, doll, for getting me up without Silverchair. Or Ghostland Observatory.
Posted by mcblogger at 08:59 AM | Comments (0) | TrackBack
July 30, 2008
You're looking a little desperate...
The EIA report came out this morning and had some interesting numbers. So far, the traders see it as bullish. So do the talking heads on Bloomberg, save one who picked up on the seasonal adjustment as refiners begin the shift to fall and winter formulations.
But there's another issue as well... people aren't using as much. Margins on gas are tight. Therefore, refiners have been producing less which is why the dramatic drawdown in inventories. Refiners, simply put, are putting more emphasis on higher margin products like distillates. Now, want me to give you some back up numbers? How about this...
Crude oil supplies declined 81,000 barrels to 295.2 million barrels last week, the report showed. A 1.3 million barrel drop was forecast in the Bloomberg News survey.Distillate Supplies
Inventories of distillate fuel rose 2.4 million barrels to 130.5 million barrels last week, the report showed. A gain of 2.05 million was forecast, according to the median of 12 analyst estimates.
So, Oil inventories dropped much less than expected (bearish for oil prices) and distillate inventories rose far more than expected. Everything fits... still, Goldman and the traders are focusing on gasoline inventories and bidding up oil. Goldman, for it's part, has dropped it's $200/bbl by the end of the year projection and replaced it with $149/bbl.
Lehman is going in the opposite direction. Honestly, seeing the evidence and not really being prejudiced one way or the other, I'm going with Lehman.
Posted by mcblogger at 02:09 PM | Comments (2) | TrackBack
I really gotta stop reading Salon
I, like many of you, am feeling let down by Democrats in Congress and by our own candidate. From FISA to faith based initiatives, the Democrats seems as willing to trash the Constitution as the Republicans. Greenwald thinks it's all because of the Blue Dogs... stop them and you regain a progressive agenda. Basically, we have to target the Blue Dogs or even, God forbid, allow Republicans to win these races to make a point with the leadership and the caucus that taking voters for granted is a super bad idea.
There is another theory that I like better... simply, we need to put a super majority of Democrats into Congress to completely marginalize the Blue Dogs.
What are your thoughts? I know where I'm falling on this... and the polling should be showing the Democrats that playing the same old games, instead of actually taking a stand and leading, is their ticket to a loss in November.
Obama offered his own horse-race assessment ...... while attending a fundraiser in Arlington, Va., Monday night. Talking to about 40 supporters, he opined that when he began his White House quest, "there weren’t too many people who thought we were going to pull this off."
Now, he said, “We are ... in a position where the odds of us winning are very good. But it’s still going to be difficult.... We’re not going to see a huge gap develop between now and Nov. 4 [in the polls]. This is going to be a close election. I’m new on the national scene. People sort of like what they see, but they’re not sure.”
Uhm, Senator, the fact that in this environment you're having problems beating a guy who is so close to Bush they smell the same is a pretty clear indication that your strategy isn't working. Seriously, rethink your excuses. You're close because you caved on things that Democrats, Republicans, Independents and even Libertarians can agree on. So, that leaves us all wondering why the hell we should vote for you.
If you lose this, Senator Obama, you have no one to blame but yourself.
Posted by mcblogger at 12:55 PM | Comments (0) | TrackBack
Goodbye, shitty Irish-style pub
Bennigan's has filed for bankruptcy. Chapter 7 BK, to be exact, which means they are selling everything from the tables and chairs to the taps and the microwaves that actually cooked the food.
I wish I could say I was nostalgic, but I'm just not. I haven't been to one of these places in years, mostly because of the proliferation of restaurants that were, frankly, far superior in terms of food. And in terms of staff who didn't judge my beverage choices.
Posted by mcblogger at 09:56 AM | Comments (0) | TrackBack
Tom Coburn in a box
Well, it would be a good start. Provided that you then buried the box and built a parking lot on top of it.
Coburn is being boxed in by Senator Reid... well, Harry and the D's and more than a few R's were trying to force him to actually vote FOR something instead of taking the cowards way out and putting a hold on it. Good luck there, Harry. Why not just go ahead and do what you did to Sen. Dodd when he put a hold on the Telecom Bill... just ignore it.
A product of Democratic frustration with the tactics of Senator Tom Coburn, an Oklahoma Republican and physician who has become the Dr. No of the Senate, the Tomnibus is a $10 billion collection of Coburn-blocked measures assembled by the Senate leadership in an effort to break his solitary grip on the legislative process.Engineered by Senator Harry Reid of Nevada, the Democratic leader, the bill includes 35 of the most irresistible-sounding measures stuck on the docket, including the Mothers Act and the Protect Our Children Act.
There are items to commemorate “The Star-Spangled Banner” and to try to curb pornography, cut drug use and help victims of Lou Gehrig’s disease.
Officially known as the Advancing America’s Priorities Act, the catchall legislation includes a measure to improve life for victims of paralysis, which Mr. Reid calls the Superman bill in tribute to the late Christopher Reeve.
The obvious intent is to apply a little legislative Kryptonite and embarrass Mr. Coburn into dropping his procedural objections to the measures while highlighting his willingness to put roadblocks in front of bills that have support from all corners — a textbook case of what Democrats view as extreme Republican obstructionism.
Well, as they say, good luck with that.
“I am not a go-along, get-along guy if I think it is the wrong way to go,” Mr. Coburn said, not stating anything his peers did not already know. “I am O.K. taking the consternation of my colleagues. I take my oath seriously.”
Yes, Tom Coburn (R - OK) is trying to cast himself as a defending of the budget. FDL has the details on what a laughable effort he has, so far, mounted. He's fine with deficit spending to pay for tax cuts for the rich and war spending, but spend $1bn on teaching kids? By God, you've just gone too far.
The Tomnibus Bill, of course, failed. Which means we've got a bunch more Republicans to get rid of. Including Junior John Cornyn who apparently thought protecting children was less important than standing with his simpleton friend who is similarly ideologically bankrupt.
Which makes me wonder about those of you, however few they may be, who are still thinking of voting or Republicans this year... I'd just like to ask, REALLY? You're living in their paradise with half TRILLION deficits, a collapsing dollar, double digit inflation and non-existent wage growth. In other words, Cornyn FAILED. Not a little, but a LOT. Quit embracing the Republican Culture of Failure.
Posted by mcblogger at 09:18 AM | Comments (0) | TrackBack
July 29, 2008
Are You A Treasonous, Hate-Filled Sack Of Pus Or Do You Just Have A Brain Tumor?
It's wrong, of course, to find pleasure in the suffering of others, but who among us can completely hold back the schadenfreude at the news that menace to society Bob Novak has a brain tumor.?
After all, Novakula is the sort of character who makes one hope not only that Hell is a real place, but that Dante's imagination only scratched the surface.
I can't help but thinking of something the English novelist Evelyn Waugh wrote when he heard that Randolph Churchill had had surgery to remove a benign tumor: "A typical triumph of modern science to find the only part of Randolph that was not malignant and remove it."
There's nothing benign about Bob Novak, and it's certain that the world would be just a little bit more pleasant without him in it. Too bad justice will be cheated and he won't end up in the same electric chair they used on the Rosenbergs.
Posted by mayor mcsleaze at 07:35 PM | Comments (2) | TrackBack
The Tubes reveal indictments
Sen. Ted Stevens (R - The Tubes) has been indicted. Which came as a huge surprise to those of us at McBlogger. Of course, we were all shocked (SHOCKED, I TELL YOU!) when Tom DeLay was indicted and everyone apparently knew about that like a week before.
Of course, we were having one of our famous month long party's at the time. And if you weren't invited there probably was a reason. And yes, we realize this will probably cause your anxieties to escalate and you'll want to cut yourself. We really don't care.
Posted by mcblogger at 12:36 PM | Comments (0) | TrackBack
Right. And Wrong.
The NYT Ed team spent Sunday congratulating Democrats for stopping retarded R efforts to drill in ANWR and the OCS. Then they congratulated the R's for keeping the Demo's from enacting legislation to restrict speculation in commodities.
While speculation is not the only thing driving oil prices, it IS a substantial component. Failure to acknowledge that fails to acknowledge the nature of markets and momentum players in them. For another, oil has steadily trended higher on rumor and, wait for it, speculation about events around the world. Why, for instance, Nigeria and production problems there have been the reason for fully $10 of the rise in oil at a minimum. Which would be understandable if Nigeria WASN'T PRODUCING ANY OIL.
Like all commodities, demand is an issue. However, the primary talking point regarding the case for no speculative bubble has been (mostly from people in NYC) that gas demand hasn't fallen despite the historic high price. Of course, what's left unsaid is that refiners haven't been able to pass THAT price, NYMEX spot, onto consumers. And that demand destruction is, in fact occurring.
The Ed Board at the Times apparently thinks that speculation is only someone trying corner the market. It's not. It's money chasing money regardless of fundamentals. While I wasn't a big fan of the D plan (I'd have rather seen short term cap gains taxes, realized in less than a year, drilled up to 70%) it would have at least done something. Of course, as the Times points out, it would have hurt hedging operations for airlines.
I guess the bright folks up there don't realize that there are other ways to hedge. And that absent speculation, there isn't as much of a need TO hedge.
Posted by mcblogger at 11:46 AM | Comments (0) | TrackBack
McCaul gets pwn'd
A couple of boys are attending a school that a US Congressman doesn't like and labels a 'jihadist seminary' without knowing anything about it. He then makes sure, through some hitherto unknown mechanism available to members of Congress, that they are removed from the school.
Who would dare to violate the religious and intellectual freedom of Americans? None other than our own Republican Congressman, Mikey McCaul (R - ClearChannel). Regardless of how pro- or anti-American this school is, their FATHER sent them there. Why did McCaul feel a need to violate the wishes of a parent? Will he be stepping in to assist other children who don't like the schools they are attending? Maybe even beat up on parents for sending their kids to bad summer camps?
Finally, these kids were from ATLANTA, GEORGIA. Not Texas. It's great that Mikey can spend so much time working on violating the wishes of a parent who isn't even his constituent, but we'd love it if he'd start doing what WE, his actual constituents, would like him to do.
Mean Rachel has more and some video.
Oh, and it would be nice if you'd help us get rid of Mikey by throwing some support to Larry Joe!
Posted by mcblogger at 10:50 AM | Comments (0) | TrackBack
July 28, 2008
Oh, Paul... notes on the Housing Bill...
Usually, I find myself agreeing with Krugman 90% of the time. This piece is absolutely spot on. As he astutely points out, financial regulations and statutes from the 1930's need to be updated for a 21st century global financial reality that includes 30 to 1 leverage and derivatives with notational values in the trillions.
Basically, one firm going belly up can freeze the entire system. Thus, the need for the Fed and Treasury to step in because private firms went a little too wild and larded on too much risk. So much, in fact, that it stands to effect the 300 million of us who aren't investors in these firms. With that kind of reach, it's absolutely necessary that there be enhanced regulation. And Phil Gramm can go fuck himself.
HOWEVER, I'm sick of the talking point, when referring the housing crisis, that this was all the fault of brokers.
Mortgage originators didn’t worry about the solvency of borrowers, because they quickly sold off the loans they made, generally to investors who had no idea what they were buying.
Uhm, Paul, originators can't originate a loan for which there aren't guidelines and a sales channel. In other words, for a loan to be originated there has to be someone willing to buy it and they set the rules. The people who bought and securitized these loans (like Bear Stearns and Lehman) knew exactly what they were getting.
Think I'm wrong? Call an originator in the phone book, any originator, and ask for a 95% NoDoc loan with no MI for the purchase of a non-owner occupied property. They'll calmly explain that the product doesn't exist.
Because the people who wanted them are either dead, dying or on life support. And that's not the fault of the originator. It's the fault of the moron bankers in the mortgage practice who thought these were such awesome credits that they should receive a premium price.
Posted by mcblogger at 03:34 PM | Comments (0) | TrackBack
Why is CapMet hating on ACL?
Once a year everyone thanks Cap Met for doing a good job for running the shuttle service during Austin City Limits. Especially people like me who can't avoid downtown (we like to drink) and really want to be able to catch our standard parking spaces. Without that shuttle, central would become a zoo of trashed out beaters parked two and three deep, a wonderland for the tow trucks but a nightmare for us. While I avoid ACL because I'm allergic to smelly people and hot environments without waitstaff, I'm a HOOOGE fan of that shuttle.
Now Cap Met's Republican leadership and counsel are saying they can no longer provide this needed service because of Federal rules. But, transportation authorities in other cities say Cap Met can provide the service. Cities like Chicago and Boston.
Now we are hearing from people affiliated with Austin City Limits that transit authorities in these other cities are indeed correct, that this sort of service is allowed under the guides and Cap Met's extreme view of the Federal regulations is more in line with that of hard right Republicans than reality.
For years Cap Met has received applause and thanks for providing the shuttle service to move over 200,000 people in and out of the Zilker Park area. The staff has been welcoming and a helpful addition to the event. Plus, Capital Sports and Entertainment, the organizers of Austin City Limits, even pay a premium rate for the service. Of course, making money has never been the strong suit of the Republican leadership at Cap Met.
One has to wonder if this is some kind of Republican reprisal for Capital Sports and Entertainment's strong support of Obama? One also has to wonder why the hell these incompetents are working at Cap Met. These are the same folks who think that the increase in ridership is not due to the increase in gas prices. Smart folks, these.
And who are these people? The ones that come straight out of the offices of DeLay, Phil Graham, Dick Shelby and Ed Kuempel and view the City's needs through the lenses of cranky, conservative, people?
Cap Met needs to immediately reverse its decision on providing shuttle service to Austin City Limits and its Board needs to consider removing the current management.
Cap Met needs the good public relations of getting 200,000 new riders, not bad press making 200,000 fight over parking spaces, walk for miles and potentially destroy the future of Austin City Limits. Not to mention the hell they'll catch from the Downtown Business Alliance when my spending drops to zero that weekend.
Don't laugh... I AM keeping several bars and restaurants afloat. And for those of you thinking this is all a bunch of partisan crap, keep in mind Democrats aren't running Cap Met. The Republicans ARE. It's high time competence, rather than ideological bullshit, made a comeback.
Posted by mcblogger at 01:23 PM | Comments (0) | TrackBack
Rush IS Right
From the NYT Mag cover story on Limbaugh
Limbaugh told me he is no longer concerned about the opinions of his colleagues and rivals, and he makes no effort to disguise his contempt for most of them. Michael Savage, ranked No. 3 among talk-radio hosts by Talkers magazine? “He’s not even in my rearview mirror.” Garrison Keillor? “I don’t even know where to find NPR on the dial.”At dinner the night before, Bill O’Reilly’s name came up, and Limbaugh expressed his opinion of the Fox cable king. He hadn’t been sure at the time that he wanted it on the record. But on second thought, “somebody’s got to say it,” he told me. “The man is Ted Baxter.”
Limbaugh does have his favorites. He admires Ann Coulter’s ability to outrage liberals. He is a fan of the columnists Camille Paglia and Thomas Sowell, both of whom he considers honest thinkers. And he is especially impressed by the essays of Christopher Hitchens. “He’s misguided sometimes, but when you read him, you finish the whole article.”
Limbaugh has a deeply conflicted attitude toward Sean Hannity, his one-time stand in and now perpetual No. 2 on the Talkers list. He speaks of the younger man with the same condescending affection that Muhammad Ali once showed Jimmy Ellis, a former sparring partner turned challenger. But he wanted me to remember who is the Greatest. “I have no competitors,” he said. “Hannity isn’t even close to me.”
Rush, you're spot on about O'Reilly. As for the rest, you're actually closer to them than you'd like to think. You, much like Coulter, Hannity and Hitchens, are trapped in a failing ideology that most closing resembles, in it's long, slow death, traditional liberalism.
With that in mind, would you just go ahead and die already? Go ahead and go back on your favorite, the hillbilly heroin, and have a good time on your way to the grave.
Posted by mcblogger at 12:26 PM | Comments (0) | TrackBack
Dating advice for the straight boys
So, she finally said yes and now you're excited you'll have a chance to show her what you're all about.
Why not wear something other than The Beater?
Yes, yes... I know it's 'basketball jersey'. I'm sure you paid as much as $50 for it. However, it's still basically a wifebeater, no matter what it says. And yes, you do have old man arms in it.
Seriously, guys, if you want to get laid would you at least TRY???!?!?
Posted by mcblogger at 11:12 AM | Comments (0) | TrackBack
McCain Channels Nixon
Playing to white, working-class resentment in classic form.
read more | digg story
Posted by mcblogger at 09:22 AM | Comments (1) | TrackBack
July 27, 2008
Bring the Noise
Some people (and here) are deciding to take matters in their own hands and not waiting for Democratic leadership. Isn’t there talk about Karl Rove scheduled to attend fundraisers in Texas? Got to get up to get down.
There is also the potential for ugliness between the backers of Obama and McCain. Not confrontational? Understandable. However, for a few, there is the preemptive strike. The site, after you “dance with death”, will link to the Houston Chronic. Reading the comments to this article in the Chronic will remind you that the quaint notion you had of reaching out to the wing nuts is a total waste of time. When Obama wins, these people will go absolute bat shit crazy, so prepare.
Posted by Captain Kroc at 10:50 PM | Comments (0) | TrackBack
July 26, 2008
Shelly was IN TOWN?!?!?!?!
As part of their continuing effort to remain relevant, conservabloggers had themselves a little convention, at the Renaissance in the Arboretum. Wonder if they had fun partying down at Friday's and Tangerine? No, wait... I really don't care.
Speakers included Bob Novak (when ARE they going to finally let him die?) and Grover Norquist, the guy who says government is the root of all evil and that unfettered, unregulated commerce is always perfect. Grover can say things like that because he's only worked in government and government related services. He's uniquely UNQUALIFIED to offer anything of substance, which is probably why the ConRoots were able to get him to come talk to them.
However, they also had... SHELLY! And what, you might be wondering, is Shelly on about today? Wachovia... apparently, their loss has nothing to do with poor underwriting. It has everything to do with management being concentrated currying favor with La Raza. No, I'm really not making this up.
Posted by mcblogger at 12:24 PM | Comments (0) | TrackBack
July 25, 2008
Really, Bill Poole?
Nothing would make me happier than never seeing another ideological simpleton from the Friedmanite school of disaster capitalists ever having another job in government or private industry. Why? Because they have ideological blinders on that keep them from accurately assessing a situation and determining a proper course of action.
Case in point, former St. Louis Fed President Bill Poole. Though he now likes to go by William, many of us know and remember him as Bill, Chairman Greeenspan's favorite echo chamber. Poole is all bullshit, all the time. His solution to this current crisis? Let's privatize Fannie and Freddie.
One shouldn't bother Bill with details and facts. For one thing, he doesn't want to hear that taxpayers aren't going to pay a dime for any of this. These companies will, as the government is only providing liquidity for currently illiquid securities, guaranteeing that the system will continue to function and loss mitigation procedures can run their course. But Poole's a Friedmanite and they love them some shock to get things moving. Unfortunately for him, the Democrats in Congress aren't prepared to hand over Fannie and Freddie to private interests (screwing existing shareholders) for pennies on the dollar.
What Bill doesn't want to acknowledge (here again, that pesky ideology) is that THE MARKET BROKE DOWN. The only thing anyone wants to own are credits backed by the government. And THAT'S the free market reality.
Absent the GSE's and their implicit government guarantee, the mortgage market would have ground to a halt, interest rates would be 3% higher (at a minimum) and home sales would have dropped to zilch. In turn, the loss mitigation and clearing of home inventory would have collapsed leading to a downward spiral that would have made the 30's look like the 50's.
Humans are imperfect. Humans in a market, whether for equities, commodities or debts, can act irrationally. They can bid up prices far beyond real value... and sell prices far below book value. That's why we need stop gaps. If you can't see that or think it would be just wonderful to return the pre-Fed, gold standard world, you're ignorant of the past and wholly unready to face the future.
Posted by mcblogger at 03:02 PM | Comments (0) | TrackBack
A Buttertroll, CradDICK and John Davis walk into a bar...
The more things change... John Davis is in trouble. Sherrie Matula is kicking his ass for being as useless as tits on a boar. She's outraising him and now little Johnny is starting to freak out. So bad, in fact, that he's requested none other than the electorally toxic CradDICK and Karl "Buttertroll" Rove to come to his aid. While they aren't good for votes, they're great for money.
So, we need to make sure Sherrie keeps in the advantage. Give what you can, even if it's a dollar, and let's help the folks in HD 129 get rid of this worthless bastard. Remember, change in one seat in the Lege may be the advantage we need to get rid of CradDICK and start rebuilding our State.
Posted by mcblogger at 01:00 PM | Comments (0) | TrackBack
Attention Austin Police!
I spent more than 20 minutes Wednesday evening going from the Lamar bridge to the South First bridge on Cesar Chavez. Of course, there is a ton of construction going on CC. However, that wasn't the problem. The jam up was caused by idiot joggers running around Lake Lady Bird who just decided to ignore the GIANT SIGNS THAT CAN BE SEEN FROM SPACE telling them not to cross South First at Cesar Chavez.
Austin Police... I LURVE you guys and only ask that you'd do me a favor. Wait on either side of the intersection and ticket the people who cross for jaywalking. PLEASE. It's obvs that people trying to hit them isn't going to deter them from jamming up traffic. That endorphin rush must be powerful and these people are JUNKIES. If they try to run away from you, taser them. Several times. For me, K?
And to the jackass in the red shorts I was gunning for... it's a damn good thing you're fast, though I probably would have stopped before I hit you. Probably. I wish for you only two things:
1) That you learn to read.
2) That the cartilage in your knees and hips disintegrates.
Jackass.
Posted by mcblogger at 09:48 AM | Comments (2) | TrackBack
July 24, 2008
Were you wondering what was up at the NCSL?
If you're curious about what's happening at the National Conference of State Legislators, the crew at KXAN has you covered.
And no, I don't know what it's all about.
Posted by mcblogger at 11:26 AM | Comments (2) | TrackBack
The most dangerous place in the world...
... is in semicelebrity alcoholic Bob Novak's way.
Journalist Robert Novak plowed into a pedestrian on K Street this morning. Novak said he didn't realize he'd hit the 60-year-old man, but an eyewitness told ABC News that the victim was "splayed on the windshield" of Novak's black corvette and that there was no way that Novak could have failed to realize he'd struck the man. A bicyclist caught up with Novak about a block away from the crash and informed him that he'd just hit someone.Watch the video. Novak was cited for failure to yield the right of way. I hope they gave him a breathalyser test. He's slurring his words pretty badly, two hours after the accident. Novak starts talking about 55 seconds into the clip, below. At about 1:22, Novak becomes almost unintelligible when the reporters ask him how his victim is doing.
The most dangerous place in AUSTIN is in my way. You'll see more on that later today.
Posted by mcblogger at 09:52 AM | Comments (4) | TrackBack
We miss you, Garry Brown
Hope you're OK and that you'll be back soon! One thing... 39% needs this to be a bigger emergency than it is so he can prove that his leadership is superior, even though we all know that he's a leader in the style of another great Republican, Herbert Hoover.
Could you at least TRY and make your situation sound a little more dire? That way 39% won't look like an idiot for asking Washington for a preemptive disaster declaration.
Posted by mcblogger at 09:30 AM | Comments (0) | TrackBack
July 23, 2008
Britney Spears To Undergo Sex Change, Enter Politics
...and what dropped into your spam folder today?
Posted by mayor mcsleaze at 07:50 PM | Comments (2) | TrackBack
Cracking down on the Lege...
Let's face it, certain members of the Lege suck. Most of them are Republicans, though there are a few Democrats (Hey there, Sly!) and frankly their lives while in Austin are too goddamn easy.
It's time we natives start treating these people like the bitches they are. We're going to start a new feature here at McB, where we let our friends and neighbors know the faces and names of the assholes in our midst. They're all the time taking advantage of us, cutting line, getting the best parking, getting out of speeding tix, cutting funding to programs we need and being mean to our electeds in the Lege.
Now, I'd never tell you to be physically abusive or gross. If you're a server and find yourself waiting on Linda Harper-Brown while she consumes THE MENU, it's your call whether or not you want to spit in her food. I'm not trying to tell you to do anything specifically. What I'm thinking of is just an overwhelming amount of negativity. Say you run into one of these douchebags at 7-11 on 15th. Rather than say "Hello, Mr. Speaker" or, if you're trying to get around them, "Pardon me, Rep. Chisum", you might try "Would you MOVE, shitbox?"
I'd also like to ask our Constables, Sheriff's Deputies and Police to start ticketing these people for EVERYTHING (and don't give me that... my Dad was an officer. You can ticket folks for ANYTHING). Or, let me put it this way... if you see an SO tag, you pull them over. Period. NYC has the dicks from the UN to deal with and we here in Austin have our own little cross to bear which manifests itself in the many Republicans who come here from suburban Houston and Dallas, not to mention the rural hinterlands.
Seriously, Austinites, I know it's not in your nature to be mean. But it's time we shame these people into acting right. By making them as uncomfortable as they can possibly be. Up first, TOM CRADDICK.
CradDICK, as we at McB have come to know him, was recently caught cutting a TSA security line at Bergstrom. Because he and Nadine had to get back to Midland. Hey, Tom, it's not our fault you live in Midland and there's only one flight a day. Get to the airport on time like the rest of us. There's no love lost between myself and TSA. However, it's not nearly as bad as it used to be and one of the nice folks at Love even told me we can now take cigarette lighters on flights which takes care of about 75% of my problems with them. Simply put, this was an abuse of power... and it's time we pay it back in kind.
You're elected to serve, not be served. If you can't live with that then it's time you move on down the road, Tom.
Posted by mcblogger at 01:37 PM | Comments (0) | TrackBack
Taking a moment to say thanks
It's not often that we take time out of our busy lives to thank those who've done so much to us. In my case, I realized today just what a CLUSTERFUCK AT&T WIRELESS IS. In that vein, I offer the following:
You take me offline, constantly
Always desiring an EDGE connection, you leave me trapped on GPRS
The way you dropped my calls SIX times yesterday was AWESOME
And thank you for selectively making signal unavailable everywhere, but only when I need to make a call or send an email.
Without AT&T in my life, things would so rock!
Posted by mcblogger at 12:05 PM | Comments (0) | TrackBack
No. Really. Let's belabor the point.
You know, what's irritating about all the information coming out about 'Our Current Financial Crisis' is that a lot of it is really good and some of it is just a bunch of damn bullshit. The vast majority is a combination of both. This piece from the Agonist, itself an expansion on an article by Gretchen Morgenson in the NYT, falls into the majority... some great work and some really specious arguments.
The central argument is that banks, through their unrealistic demands for ever greater growth, brought this on themselves by leveraging themselves, disregarding risk and recognizing the profits to be made over years or decades instantly. Some of this is very valid criticism. Underwriting guidelines went off the rails and led to, for example, the stated income loan for wage earners (we called these Liar Loans). Further, demand in the market for securitizations and the perceived safety of those securities (they were backed by mortgages... people ALWAYS pay their mortgage) led to pricing substantially below risk. This was classic irrationality, paying far too much for assets worth much less. Now, everyone is so nervous that they don't want to own any but the safest credits, those insured by the government (directly or in the case of Fannie/Freddie, indirectly). 18 months have passed since the markets began to seize up and we're still stuck. Will they come back?
Of course. However, underwriting is going to be a serious concern going forward and pricing is going to go way up. Many companies, for example, are still doing jumbo loans. However, they are being priced as if they are going to remain on the books forever, never to be sold.
Everyone, from banks to borrowers to investors, is to blame for this crisis. However, the reality is that this was, in part, driven by nonexistent wage growth and lack of regulatory compliance. In other words, while the crash was inevitable, it would have been a lot less costly and damaging because the consumer and banks would have been better able to weather the storm. Government, as it turns out, really IS a necessary evil. It's funny how many people who invested in IndyMac are now bitching and moaning because OTS didn't do it's job.
This is a failure of conservative, Reaganite ideology. And now, rationality is making a comeback. Which is why this won't be nearly as bad as everyone seems to think. And for another take on Morgenson, there's this.
Posted by mcblogger at 09:11 AM | Comments (1) | TrackBack
July 22, 2008
Staples discovers what Gilbert already knew
During the 2006 campaign for Ag Commissioner, Hank Gilbert talked about the need to immediately begin inspecting gasoline and diesel pumps at stations all over Texas since many hadn't been touched in more than 8 years. He was pointing out that then Ag Commissioner Susan Combs (R-Bitch) had failed miserably on the job. Hank assured folks if he was elected he'd start the process the day he took office.
Instead, Todd Staples won that election. And he's only now paying attention to the fact that some fuel retailers are cheating Texans. Way to be on the stick, Staples. You're a MOTO who distinguishes himself through irredeemable laziness. Take a bow.
(VIA STC)
Posted by mcblogger at 02:29 PM | Comments (0) | TrackBack
Roundin' up the TPA
It is time for another edition of the Texas Progressive Alliance's weekly round-up.
This week's round-up is compiled by Vince from Capitol Annex.
The Texas Cloverleaf asks if John Cornyn and Kay Bailey Hutchison want more HIV in the global pandemic? Our TX Senators were 2 of the 16 votes against the latest HIV/AIDS bill in the Senate this week that passed overwhelmingly.
WCNews at Eye On Williamson posts on Diana Maldonado's great fundraising numbers in Diana Maldonado Has Almost 4 to 1 COH Advantage In HD-52.
WhosPlayin at WhosPlayin steped outside of his comfort zone a bit and commented on the Fannie and Freddie situation.
jobsanger blasts Republican attempts to allow offshore and ANWR drilling in Drilling Won't Make Us Energy Independent and in Bush Playing Politics With Oil.
The bar may be open, says TXSharon at Texas Kaos in Fire Water: With Compliments from EnCana, but if Encana's serving up the cocktails, it might be better to abstain.
McBlogger's own
Harry Balczak has a new recurring feature,
Vince at Capitol Annex notes that poultry kingpin Bo Pilgrim paid to jet around Texas Governor Rick Perry's staff to promote the ethanol waver he bought and paid for with a $100,000 contribution to the Republican Governor's Association.
Mean Rachel contemplates whether Fannie and Freddie have anything to do with being raised in 78704, but living through young-adulthood in 78749 in Crashes.
The final word, for now, on the Webb County Sheriff's race says Martin Cuellar wins by 41 votes. Since the various 'official' totals for Cuellar have been +37, -133, +39 and finally +41, CouldBeTrue of South Texas Chisme wonders what the h*ll happened!
Off the Kuff looks at the Harris County campaign finance reports and finds good news and not-so-good news for Democratic campaigns.
The Texas Observer's Melissa Del Bosque had an observation about one
of the panels at Netroots Nation this past weekend, and PDiddie at Brains and Eggs had some observations about what she observed.
BossKitty at BlueBloggin shows us smuggling humans into the US is no problem at all; From Africa to Mexico to US, Any Way They Can Immigrate.
BossKitty as TruthHugger points out the continued struggle by our soldiers suffering from PTSD and the inadequate response by the incapable VA, in But, When They Come Home ….
Posted by mcblogger at 12:17 PM | Comments (0) | TrackBack
July 21, 2008
An Irishman and shark are playing golf when…
To some, the British Open, or the Open Championship when in the presence of proper company, is not only the finest golf tournament, but also the year’s greatest sporting event.
This year we tip one to Irishman Padraig Harrington, whose intellect played a big part in winning his second in a row. Sentimental favorite, 53 year old Greg Norman, who was accompanied by his new bride, tennis legend, and still middle-aged America’s sweetheart Chris Evert, found his daring and dashing style coming up a tad short. In his storied career, the Shark was never known to run and hide. Unfortunately, this aggressive style found him taking it on the chin a number of times, and, and developing a reputation, from those who need their heroes perfect, of someone who failed to uphold many fan’s thirst for someone to dominate every major tournament. Even so, his popularity has led many to say that Norman was Tiger Woods before there was a Tiger Woods.
The features that make this golf outing so special are the unique conditions combined with the refined tradition found among this hosting country and its inhabitants.
The weather is usually windy, cold, and if we are lucky, misting or drizzling.
The links golf courses, often very old (some are centuries ago) and set among coastal areas, blend into the natural environment with uneven terrain, high natural seaside grasses, and numerous sand bunkers that resemble foxholes. The landscape rarely has trees and the fairways rarely watered.
Those golfers who keep their composure and wit are usually victorious because the demanding environment of course, climate and pressure has a maddening way of deflating the ambitions of the greatest golfers in the world.
All things being equal, the players who have developed great course management skills have a leg up on the competition. In other words, the tournament puts the humanity back into the game.
Professional golf tournaments on this side of the pond have become mechanical and boring. The golf courses mirror the typical American professional – over-manicured, watered down, and devoid of personality. The television ratings when Woods is not playing are abysmal. The evolution of professional golf in the United States has gone from a creative entrepreneurial spirit to corporate blandness. When commercials on golf broadcasts once touted working class brands Chevy and Timex, the current batch dulls our senses with elitist Hummer and Rolex.
Posted by Captain Kroc at 10:50 PM | Comments (0) | TrackBack
What matters most
Last week there was this in the WaPo regarding the criticism of a bailout by the Fed's of Fannie Mae and Freddie Mac. At the end of the day, the question is not whether IT is right or wrong; The question is whether or not it will do the trick.
As for Fannie and Freddie, nobody would be particularly happy if it became necessary for the Treasury to inject some fresh capital into the mortgage giants, in exchange, say, for newly issued preferred stock that could be sold back at a profit when the mortgage market recovers. But even the editorialists at the Wall Street Journal acknowledged yesterday that this wee bit of socialism might be the most effective and least costly way to keep the mortgage market functioning and prevent a meltdown in global credit markets.A financial crisis is not a morality play. What matters most isn't the precedents that are set, the amount of taxpayer money that's implicated or whether people are made to suffer fully for their financial misjudgments. In the end, what matters most is that we get through it as quickly as possible with an economy and a financial system intact.
Friday I had the opportunity to sit through the Subprime Lending panel at Netroots Nation. Honestly, I expected much more mostly because I have a tremendous amount of respect for the people on the panel. Even Rep. Miller who seems, though well intentioned, very unwilling to understand the impact of what he wants to do.
For one thing, Rep. Miller has a real problem with mortgage brokers. ALL MORTGAGE BROKERS. Working in the industry I can tell you from first hand experience that there are far more great brokers than mediocre or even bad ones. Rep. Miller makes no distinction between the two groups. In fact, he really doesn't understand the difference, apparently, between brokers and bankers. Nor does he seem to realize that the end effect of his legislative agenda will not be to kill an industry or to stop abusive lending practices. It will be to convert brokers to bankers.
Both Miller and Mark Griffith really seemed to come alive at the notion of new regulations and laws restricting what they considered to be unfair lending products. They are operating from the mistaken assumption that some of these products were engineered to create default or, worse, continual refinancing. I say mistaken because neither of them are apparently aware of the fact that loans that pay off early end up costing investors money and banks hate foreclosures, mostly because they end up costing more than a loan that just pays off. But I digress... the point was new laws and regulations. Which aren't really needed because the ones that are ON the books now would have gone a long way to preventing the current crisis. However, they weren't enforced. Griffith and Miller live in that fantasy world where people always follow the law and there's no need to fund the people who look over their shoulders. I guess neither of them have ever driven on a freeway.
Hale Stewart made some excellent points and, having worked in the securitization side of the industry, had a great command of the subject matter. He made a comment that 20% of Countrywide's non-prime portfolio (made up of deep subprime and Alt A credits) was delinquent. That's true, but the actual default rates are the key and they aren't near 20%. Countrywide hasn't disclosed them, but industry estimates put the number at close to 5%. While Cwide didn't price these credits for the underlying risk (they booking these loans at far too low a coupon), the default estimates are inline with what you would expect for loans of this type.
There was one minor point that made regarding Hale about securitization and elimination of risk. Some investors, the same ones who are panicked right now, never understood that home loans can go bad. Even the ones with really high credit score borrowers and big down payments. Securitization was a way of balancing risk and creating fungible product that could be traded like a bond. Hale was spot on in that investors panicked when they discovered that securitization didn't mean complete and total safety.
The panel, on the whole, presented about half and half in terms of correct information vs. incorrect information. It was the stuff that was bad that got me since it wasn't just wrong, it was REALLY wrong. For instance, Griffith claimed there aren't subprime borrowers, only subprime loans. While this may fit an progressive ideological frame, it does not fit reality. The reality is that some people have credit that is significantly worse than others, people who have shown a history of paying slow or not at all on even the most minor debts. Should these people receive the same terms and interest rates that people with fantastic credit get? If so, how exactly do you plan to compensate lenders for the substantially higher risk of default you're asking them to assume? That thought apparently had not occurred to Griffith.
Griffith also discussed the right wing talking point that CRA REQUIRED subprime lending. He's right and wrong in saying that's not true. While CRA did not require 2/28 ARMs and Pick A Pay, it did lead to the creation of subclasses on the prime side represented by products like Freddie Mac's Home Possible and Fannie Mae's My Community. Both of these products required minimal or no down payment (a high risk factor), had income limitations (usually no more than 100% of area median income unless the property to be used as collateral was in a designated census tract for renewal), were aggressively priced and the mortgage insurance on them was far lower than the coverage on comparable prime products. To add to the risk on the loan, these products were extended down to credit classes that would ordinarily have been unacceptable on the prime side. The end result is that the loans having the most problems on the prime side are these, vintage 2006 and 2007 when the guidelines were loosened so dramatically that damn near anyone could get a loan as long as they could prove income.
The panelists were unclear as to what to do to fix the problem of abusive originators. So, I'd like to offer a few suggestions that will actually work... these are geared toward cleaning up and standardizing origination. The larger problem in the industry right now, liquidity in the market and solvency of the firms, is being addressed and should be considered a separate issue. You'll note that I'm using originator exclusively in this... these rules should apply to EVERYONE in the market, whether banker or broker.
1) National licensing for all originators. The state by state foolishness has to stop and there needs to be a national program in place to regulate.
2) Eliminate prepayment penalties. My peers will hate me for this, but the reality is that these penalties end up not producing stability in a portfolio which is why they were put in place. Period. Therefore, it makes sense to scrap them altogether and price loans appropriately for a payoff in 4 years or less.
3) End bait and switch... this happens infrequently but often enough that it's a problem. The best way to do it is to eliminate all advertising which bears an interest rate. These are teasers and only available to those with superb credit and 20% or more to put down. Needless to say, that doesn't remotely represent the majority of the borrowers in the market. Further, eliminate all disclosure of rate at initial application. Most of the time, when a borrower first applies for a loan, they don't even have a house selected yet. No underwriter has seen the file to determine if the borrower meets credit guidelines. In that condition, there is no way for an originator to disclose rate and they shouldn't be doing it. Rate should not be disclosed until the loan has been through initial underwriting and a house has been selected. At that time an originator should fully disclose a locked rate and the money they are making on the end sale of that loan.
What no one on the outside realizes is that an interest rate must be locked prior to closing a loan. Every one that 'falls out' (doesn't close) ends up costing money. No one comes after the borrower for this. However, we expect originators to commit to an interest rate BEFORE knowing the risk on the loan which is absolutely insane.
4) There need to be definitive metrics for originator performance. Offering 'the best rate' is not enough since not everyone is entitled to the same rate or terms. What these metrics might be are fairly simple. For example, if a borrower wants to refinance their home without cashout, does the new loan meet a net tangible benefit to the borrower in saving them money? If so, then the originator has fulfilled their obligation to the borrower. Does the borrower have the wherewithal to make payments on the house in the event of a job loss or other financially damaging event? If no, the originator should have the responsibility to terminate the transaction.
There also need to be some easy to understand disclosures to the borrower that if they change properties they'll lose their rate lock. If they decide to materially change the terms, the rate may change. Borrowers have to understand that their decisions and delays in providing necessary documentation can put their loan in jeopardy.
5) Absolute ban on all payments by originators to Realtors under any circumstances and a complete ban on any Realtor having an ownership interest of any kind in an originator. While we're at it, lets just go ahead and ban cross ownership by people or businesses in the industry. Realtors shouldn't own appraisers or title companies. Originators shouldn't own credit companies, etc. Every piece must be independent from the others to maintain the integrity of the system. And throw in the builders as well. They don't need to subsidize their primary business with mortgage lending because it has a real impact on the true value of the collateral.
6) Restrict, either through legislation or Fed regulatory guidance, the use of limited or no doc products. These are FANTASTIC products... for a self employed borrower with 10% or more to put down, fantastic credit and who can prove low payment shock (i.e., not jumping from $800 per month in rent to $3500 per month in mortgage). These are not loans for W2 wage earners who are trying to buy more home than they can realistically afford. The panel on Friday addressed this and they were SPOT on. However, there seemed to be agreement among them that these products were de facto bad and it's simply not the case. The problem is that they were handed out like candy to people who frankly didn't require them. Not to mention the fact that, again, they weren't priced appropriately for the underlying risk of default which was substantially higher than a full doc Fannie/Freddie loan.
7) Eliminate all option ARM and Pick A Pay loans. Really, do I need to go into this? A home loan with credit card-like repayment terms is just a bad idea and a prescription for default.
8) SEVERELY restrict home equity lending. It frankly should not be so easy to pull equity out of your home. Further, you should not be able to pull out more than it's worth. This is not only to protect homeowners but banks as well. Texas has some very restrictive home equity laws that could serve as a good starting point.
9) Mandate disclosure of YSP/SRP at time of rate lock. This disclosure should explain to the borrower that the low out of pocket costs for their mortgage are being covered by this fee paid by the lender to the originator and that the money represents the profit to be made off servicing that loan until it pays off. Brokers are already required to do this. Banks will throw a fit. However, if you want to level the playing field and make things transparent, then this is the way to go.
As for YSP, it's time to note something. I have originators here in Austin that I work with who write mortgages at basically par rates. They provide no real customer service and they only accept applications with extremely good credit and at least 20% down. Obviously, this is a very narrow segment. I have others who charge more and price their loans at higher coupons. However, they deliver superior service to their borrowers. They also work with borrowers who the other originators wouldn't touch. Both groups are still, on average, cheaper than retail banks.
Banking is, at it's core, a service. No service is free and people should be compensated for the work they do. This has got to be understood. When I originated I had an extremely loyal client base. I still talk to most of them. Some of them could have found better rates somewhere else and they knew it. However, they came to me because I answered their questions, worked with them on their plans and gave them the options they had available. To them that was worth an additional 12.5 basis points (1/8th of a point on the interest rate).
For a more readily understandable example, I have been going to the same lady for haircuts for 7 years. I don't go to her because she's the cheapest. I go to her because she does a great job and she's a blast.
10) FUND REGULATORY AND INVESTIGATIVE BODIES. Rules and regulations are worthless without enforcement and I, among many, have been begging for it for years.
Most of these ideas would be supported by the industry wholeheartedly. Well, except for maybe banning prepayment penalties but that's just a cross they'll have to bear. As for the budding consumer advocates, you're never going to kill payments of YSP. PERIOD. All you're going to do is force brokers (who have to disclose YSP) to bankers who don't have to disclose. The solution is to make everyone disclose and make the disclosure easier to read so people can really compare apples to apples. As a side note, there is an element of stupidity in the let's ban YSP movement. In ANY market there are going to be some providers of a good or service who charge more than others. Be a savvy shopper and really think about the level of service you want and are willing to pay for. I don't shop at Neiman Marcus because it's the only place that has clothes, I shop there because I want my ass kissed when I go to spend money. That and my experiences buying clothes online have been something of a dismal failure.
In the final analysis, ideological blinders, whether Democratic or Republican, are absolutely worthless. Demonizing whole industries, especially when it's clear you don't understand them, is counterproductive and stands a good chance of digging us deeper into the hole. Make an effort, policymakers, to understand the industries you are trying to regulate and work with the people in them on rational solutions. Those of us in the industry would do well to make necessary changes now.
Posted by mcblogger at 01:56 PM | Comments (0) | TrackBack
McHenry, Bunning think the world is standing on its head
The Statesman has a good piece about the cross party support for the aid package to Fannie and Freddie. Which makes sense when you consider that doing nothing will collapse foreign investment in the US, send oil above $250/bbl and drive us into a nice, deep depression. However, some people didn't get the memo.
Paulson, mused Rep. Barney Frank, D-Mass., is "getting more cooperation here, and more constructive discussion (from Democrats), than he's getting with the Republicans."The irony is particularly galling to GOP conservatives who have long railed against Fannie and Freddie, saying the government needed to rein in and even dismantle them.
"Strange things are occurring. ...There has been a massive shift in the Bush administration policy," said Rep. Patrick McHenry, R-N.C. "I don't see rank-and-file Republicans following the dictates of the Bush administration on this."
When he saw Treasury's plan for Fannie Mae and Freddie Mac, Sen. Jim Bunning, R-Ky., grumbled, "I thought I woke up in France. But no, it turned out it was socialism here in the United States of America."
Bunning had his brain replaced with components from a Curtis Mathis VCR made in 1981 which may help explain why he doesn't realize which country he's in. Or know the difference between socialism and capitalism. He also forgets to wear pants.
The corpulent little twerp, Mr. McHenry of North Carolina (what IS it with you people? This assweevil AND Brad Miller? Quit inflicting these morons on us!) is also worried about socialism. Or is it priapism? As for 'rank and file' Republicans, Patty shouldn't be so worried. There will be precious few of them next January.
Posted by mcblogger at 09:33 AM | Comments (0) | TrackBack
July 19, 2008
We won't be hugging these trees
It's a free country. Spend your money where you want
Posted by Captain Kroc at 05:08 PM | Comments (0) | TrackBack
Surprise!
Turns out that the surprise guest at the liberal Netroots Nation (formerly YearlyKos) convention was Al Gore.
Meanwhile, the conservative counter-convention being held across town, American Bloggers Saving America From Americans (formerly Little Green Goofballs) had to settle for a surprise appearance from ManBearPig. All went well until the creature, apparently frightened by flashes from the audience's cameras, mauled Jonah Goldberg.
Posted by mayor mcsleaze at 11:49 AM | Comments (0) | TrackBack
Ed Gillespie, The Retard's Retard
On Bloomberg Thursday evening, one of President Bush's many idiots, Ed Gillespie, told the simpleton interviewer that there was enough shale oil in the west to provide us with oil 'forever'. Ed also believes that there's BILLIONS OF BARRELS OF OIL on the continental shelf. Which there could be if a couple of things are true...
1) Oil is abiotically created
2) 90% of the 'VAST' supply of oil is on the 20% of the OCS where drilling is currently prohibited
3) There's some magical oil fairy that put it all there just minutes ago
On the topic of the shale oil, you'd have to flatten the Rocky Mountains. I bet some people in New Mexico, Wyoming and Colorado would kinda be irritated about that.
What makes Ed say such stupid things? Well, as it turns out, Ed's resume is a little light on energy. It's heavy on political jobs. In fact, they're damn near all he's ever had. That may explain why he thinks you can easily get oil out of rock. Well, that AND pump it out of where it's not.
Drill here? Drill now? Pay less? No. THERE'S.NOT.ENOUGH.THERE.
Morons.
Posted by mcblogger at 11:10 AM | Comments (0) | TrackBack
July 18, 2008
What math nerds grow up to smell like
In a few short minutes I shall bravely overcome cocktail flu, venture downtown and go to Netroots Nation where I will moderate a panel. On sunshine laws.
That's right, Netroots Nation is here and there are massive numbers of polinerds running around downtown like a tapeworms in someone's ... well, you get the idea. If you ever wondered what happened to that politically aware math nerd you knew in high school who was slightly malodorous, if you'll go hang out downtown you'll probably see him.
Or her.
Posted by mcblogger at 09:19 AM | Comments (3) | TrackBack
Harry Balczac's Reminder To You People, Part 1
Even though it's 2008, I'm still good and stewed over that dumb, dumb thing You People did in 2004 - all 62 million plus of you. (I won't bring up 2000 or what a smaller subset of You People did in '98 and '94, because I'm magnanimous that way).
So just to make sure You People don't do something similarly stupid this year, I'm introducing a new recurring feature from now until Election Day: Harry Balczac's Reminder To You People. In this series, I will periodically chime in with some reminder of the ridiculous sales pitches that duped all You People just four short years ago.
Hopefully, being made to inhale your own brain farts in this manner will build up your resistance to future campaign sophistry (a more accurate term would be McThuselan Bullshit or GOP Projectile DooDooBomb, but again, my magnanimity...). So without further ado, I bring you Installment One: "The Commander In Chief....Of T-Ball!!"
Remember when all You People were scared that terrorists were under the bed, but you felt safe because His Deciderness wore a fighter pilot uniform, and said "Bring it on" to the "Terr'rists", and swaggered a lot, and had his surrogates slander the other candidate who actually went into combat instead of playing hookie from stateside duty, and all You People positively SWOONED over what a strong, manly, Alpha-male Commander In Chief we had, like old-timey women who got the vapors while entertaining gentlemen callers in the parlor?
Well, the war in Iraq is still on, Afghanistan is still a festering Stage IV decubitis ulcer on the ass of the Asian landmass, Pakistan is getting worse in a hurry, the military is more demoralized than ever, but our Commander in Chief, who YOU PEOPLE elected, can't be bothered right now...because he's got a T-Ball game to officiate. Dana Milbank of WaPo has the story here.
Nero played the violin while Rome burned. Our commander-in-chief plays T-ball with a chipmunk. You People think about that.
Posted by hbalczak at 08:59 AM | Comments (0) | TrackBack
July 17, 2008
Time to clean house at CapMetro
Yesterday, our transit agency announced the sudden departure of the Rail Director. This comes a week after a derailment of a rail car carrying Federal Transportation officials in town to sign off on the commuter train operation. No, I'm not joking. The damn thing went off the rails, which is the current destination of commuter and light rail in Austin if we don't remove all the losers at CapMetro and replace them with competent professionals.
This also comes shortly after the flight of the Chairman, Chief Operating Officer and Chief Financial Officer. None of which were particularly a great loss.
We need a good transit system now. I think everyone is screaming for it. And at a time that the city is demanding what Cap Met always said they could produce, they seem to be able to only screw up. Over and over and over again. Moreover, the remaining 'leadership' at CapMetro does anything but lead and seems uniquely incapable of doing anything right. They've lost the support of the rank and file personnel and now they should lose the support of the City and everyone else.
Commuter Rail is neither on time nor on budget. This isn't surprising since its builder didn't deliver his last project, ABIA, on time or on budget. Sure they opened it on time, but it went through five years of extreme change orders.
Who selected the same company who converted ABIA? Why none of there than the retarded senior level management at CapMetro. And where did they come from? Straight from federal and state Republican leadership. The same people who say we can drill for oil where there is none. The same folks who think you can keep kids from having sex by asking them not to, despite all evidence to the contrary. The same folks who brought us electricity deregulation, though thankfully that one didn't take hold here.
We want public transit that works for this city. These Republicans seem hell bent on building a operation to hire their pals, give out sweetheart contracts, fly all over the country and play with our tax dollars. Enough is enough... it's time they be employed where they belong... nowhere.
We need to immediately call for a replacement of the management of Cap Met. And we need to find a management that will take advantage of this demand from the city for good public transit that challenges us to change the way we think.
Posted by mcblogger at 08:21 PM | Comments (0) | TrackBack
Every once in a while...
You need something a little different.
Couple Has Sex With Their Horse - Watch more free videos
You know, in hindsight I guess it wasn't different so much as it was FUCKALL CRAZY.
Posted by mcblogger at 12:25 PM | Comments (0) | TrackBack
Wendy Davis pwns Brimer
Wendy Davis responds to dipshit Brimer's pathetic attempts to keep her off ballot.
"He thinks this lawsuit will hide his 20 years of failed leadership," Davis said. "To the contrary, it has highlighted it.""We ask you to stop hiding behind your lawyers and your political consultants and step forward to demand that this lawsuit is handled immediately so we can move on to address the issues important to Tarrant County families," Davis said.
Posted by mcblogger at 10:04 AM | Comments (1) | TrackBack
July 16, 2008
Dumb and dumberer
Attention Morons... know your limitations.
State Sen. Florence Shapiro of Plano on Tuesday unveiled a committee headed by Dallas Cowboys' great Roger Staubach to explore the possibility of seeking the U.S. Senate seat that Kay Bailey Hutchison might vacate to run for governor in 2010.Meanwhile, another Republican hinted interest. Elizabeth Ames Jones, a member of the Texas Railroad Commission and former Texas House member from San Antonio, said there's no opening yet.
But Jones, who raised $1 million for her state campaign kitty in the past year, said: "I would certainly not want to be left out of anything that would benefit Texas. It's going to be a long campaign for ... that Senate seat."
While I LURVE the idea of these two idiot bitches beating the hell out of the one another, honestly I'd like a stronger Republican. It'll be more fun in the general. Campaigning against either of these halfwits would be like kicking a puppy.
Dumb bitch vs. REALLY dumb bitch who is a decorator. God, I can't wait. Hey, Liz... I'm still waiting on you to give me the geologicals for that massive oil field you're just certain is right.under.our.feet!
Posted by mcblogger at 07:39 AM | Comments (0) | TrackBack
Roundin' up the TPA
South Texas Chisme got what they were asking for - a spotlight on the Webb County Sheriff's race. BlackBox Voting's Bev Harris has asked for relevant auditable materials. CouldBeTrue can hardly wait to find out what happened.
WCNews at Eye On Williamson posts on the "rail-rage" that's hitting Central Texas, Rail, Rail, Rail - Do It Right, Not Fast.
President Bush hasn't seen Russian President Medvedev since his 'election' to the Russian Presidency. Last week, he had his first opportunity to look into his eyes. Check out McBlogger