The political right vociferously argues that much or most of the current agenda of the political left violates the intentions of the Founding Fathers, i.e. is unconstitutional. The claim being, in essence, that the genius displayed at the Convention in 1787 created a work product that was designed and intended … Continue reading

Bye Fannie, See Ya Freddie: Should the Rest of Us Get Ready to Kiss Our Butts Goodbye?

On my personal ranking of the news events of the past 100 years, the top three stories are (1) Hiroshima/Nagasaki; (2) The tearing down of the Berlin Wall; and (3) The current forcing of Fannie Mae and Freddie Mac into federal conservatorship. The conventional wisdom, of course, is that Fannie … Continue reading

Why do we even let the riff raff vote?

Paraguay just had an election. The “leftist” won. The whole problem with allowing poor countries to have real elections is that it’s guaranteed that there will be a candidate to run the country who talks about using national resources to benefit the national population. Well, if you let people vote … Continue reading

What’s that smell?

When Reagan and Daddy Bush finally tied the knot after their big dustup in 1980, the only reasonable conclusion was that they were really consummating a marriage between the military/industrial complex and big oil. This probably started out as a tenuous union but eventually morphed into the shadow entity most … Continue reading

More shoes drop

The Temptation is to just chalk this up to another monumental blunder by little Georgie, but, really, Ronald Reagan comes in for a heaping helping of blame as well. Why does the “nation” of Georgia even exist? But after Reagan established the precedent with Estonia, Latvia, and Lithuania, is there … Continue reading

Covered Bonds: The next fiasco?

Are covered bonds the next fiasco? “The U.S. Treasury Department is continuing to consider ways to resuscitate weak homebuying activity, Treasury Secretary Henry Paulson said Tuesday, highlighting the potential of covered bonds as a “promising” solution.” “Covered bonds are securities created from either mortgage loans or public sector loans and … Continue reading