3/27/09

One in Every 31 US Citizens is in Federal or State Prison, Local Jail, on Probation or on Parole


Jim Webb is one US Senator that acts like an adult.
His new legislation, The National Criminal Justice Act of 2009, is a step in the right direction. Clearly, the incarceration rates in this country are unacceptable. As a bulwark of so-called democracy and freedom, for our country to warehouse nearly 25% of the world’s reported prisoners is appalling.

Often the path of least resistance is just to build more prisons when confronted with complicated issues of crime, punishment and rehabilitation. We have increasingly privatized prisons in our country. Over 35 states now have contracts with private companies to build prisons. Warehousing human beings in the jails is often one the largest budgetary outlays for state governments. Prisons often provide welcomed employment opportunities to depressed rural segments of our country. We currently incarcerate 756 inmates per 100,000 residents, a rate nearly five times the average worldwide of 158 for every 100,000. Local, state, and federal spending on corrections adds up to about $68 billion a year. The vast majority of individuals in our jails or criminal justice system are non-violent drug offenders. Many of our prison population are mentally ill. The Pew Center for the States has prepared a very sobering and comprehensive study. Something needs to be done.

Senator Webb’s proposed legislation is a good start.

3/17/09

The New Hip-Hop GOP

Michael Steele wants to make the GOP a more relevant political organization with new hip-hop branding and a more youthful message. I have given some thought to this idea and here are ten modest suggestions to help Mike give the GOP more street “cred.”

1. Have all the remaining Republican members of the House and Senate get tattoos or visible body piercings.
2. Have Mitch McConnell host a call-in afternoon music video show on Faux News.
3. Have all the noted African American Republicans put together their own hip-hop CD. That would include Mike “in the house” Steele, Lynn Swann, Edward Brookes (Sorry, I think he is deceased), Clarence Thomas, Frederick Douglas, Condelezza Rice, Don King, Sammy Davis, Jr., and John Boehner.
4. Introduce a new political slogan, “GOP Shizzle Ma Nizzle.”
5. Appoint Shaquielle O’Neal to the next open seat in the Senate or House.
6. Keeping repeating “Supply-side Economics is off da hook.”
7. Have Rush Limbaugh give up hillbilly herion for reefer.
8. Have Newt Gingrich volunteer to be on the next MTV “Real World.”
9. Organize a major concert fashioned after Live Aid or Farm Aid to help all the displaced Wall Street financiers and investors called “Derivative Aid.”
10. Develop a public relations campaign to alter perceptions about the use of torture that is something like, “Waterboarding is a like Spring Break without the beer.” Or “Torturing terrorists is just like mosh-pitting with some guidance.”

Just a few helpful suggestions for Mr. Steele.

3/13/09

Why Am I Not Surprised?

In a recent investigation conducted by the NAACP, researchers found that Wells Fargo Bank and HSBC steered more African Americans than whites to subprime loans for home purchases and refinancing. The NAACP is filing a class action suit against these banks and other small banks who engaged in these discriminatory practices. Why I am not surprised?

The neanderthals remaining in the party of ideas continue to whine that the financial morass we are in is largely due to Freddie Mac and Fannie Mae writing large checks to poor black families to buy homes they could not afford. Or it is due to the large amounts of money handed to black businesses through the Community Reinvestment Act. The majority of subprime loans were originated by non-CRA covered financial institutions. In fact, only about 25 percent of sub-prime loans were made by institutions covered by CRA. Over 85% of foreclosed properties have nothing to do with Fannie or Freddie.

The myth is retold over and over again on talk radio that Clinton started it all by forcing both lenders to throw away any due diligence in lending procedures so that inner cities blacks and ACORN somehow could use those funds to engage in voter fraud to elect Barack Obama. I know its convoluted and paranoid but consider the source.

Now we learn some of our most respected commercial lenders engaged in discriminatory practices by steering African American to riskier loan products even though their credit ratings were equal to their white counterparts. This is flat out disgusting. I do wonder if the loan execs at Wells Fargo and HSBC got their obligatory bonuses for their racist lending practices. It would not surprise me. This is a classic example of racial prejudice reinforced by discriminatory business practices, Give poor blacks loans they cannot afford resulting in higher default rates. You know the rest of the story.

3/10/09

How Many Rushbos Can You Fit on the Head of a Oxycontin Tablet?

As right wing talking heads, wing nut bloggers and GOP legislators continue to engage in a self-destructive and supercilious dialogue about the future of their movement, Rome burns. Patrick McHenry, a dim bulb from North Carolina representing a congressional district comprised of former tobacco growers, chicken factory farmers, and end times followers, claims his job is not to solve the nation’s economic woes but to win the public relations fight against the Democrats.

“We will lose on legislation. But we will win the message war every day, and every week, until November 2010,” said Rep. Patrick McHenry, R-N.C., an outspoken conservative who has participated on the GOP message teams. “Our goal is to bring down approval numbers for [Speaker Nancy] Pelosi and for House Democrats. That will take repetition. This is a marathon, not a sprint.”

Southern governors, still sore that Lee’s attempts to breakthrough the Union lines at Gettysburg failed, were seriously considering not accepting stimulus funds to help their ailing state economies. Governors Sanford, Barbour and Jindahl have turned up their noses at federal help. Not surprisingly, they represent states that have some of the highest levels of poverty, unemployment and infant mortality.

Representative Jim Wamp, a Republican from Tennessee, in a recent interview asserted, “Listen, health care is a privilege…. I was just about to say, for some people it’s a right. But for everyone, frankly, it’s not necessarily a right.”

There are just too many self-parodying examples of the incredible brainpower of the party of ideas.

Meanwhile, Michael Steele, the only black member of the GOP (other than John Boehner), is trying to transform an intolerant set of self-immolating ditto heads into a new multicultural brand of narrow-minded politicians who like white hip hop music and can eat Mexican food without a fork.

And you know how successful his efforts have been!

This is not to say that the Democrats and the Obama Presidency have not made some missteps in first few months in office. Perhaps events have overwhelmed their ability to respond to each daily piece of economic bad news. Their bench strength is very weak or non-existent right now. Treasury Secretary Geittner does not exude a sense of confidence. He reminds me of someone who gets picked to play right field in a backyard baseball game.

The financial markets are still the core of this economic crisis. Companies like General Electric are being sold at about $9 a share. Not because they are not making good products but because the financial portion of their business is view suspiciously by investors. Until institutional investors, pension funds, or international groups believe our financial markets are reasonably stable, they will not reinvest in the financial sectors of the market. Again, I am not an economist nor ever pretend to be but it seems obvious to me the first step in getting out of this economic mess to reestablish confidence in our banking system. Let’s hope that Obama’s core of economic and financial advisers can tamp down the fear in the financial markets. So far, they have had mixed results.

Even though I have some concerns, Obama and his team are trying to respond to the crisis. Their ambitious agenda for reforming health care, creating a green economy, and producing jobs are important first steps. The Democrats are not engaged in an intrafracine struggle like the remnants of the GOP. They won a major election and as Chris Matthews has said time and again, “Elections have consequences.” Democrats are trying to use the tools of the federal government to get us out of this near depression. And the Republicans? Well they continue to throw spitballs at each other, watch reruns of Ronald Reagan’s funeral, and waste time sticking pins in voodoo dolls of Nancy Pelosi and Harry Reid.

3/5/09

Most Economic Punditry Borders on Alchemy



I do find it a tad amusing how many of the Wall Street inside guys, big time investors, and analysts always provide cogent and varied reasons for why something happen in the past. Rarely do their pontifications or predictions for the future ever come true. No wonder they call it the dismal science.

Like all of us, they got swept up into the euphoria of the moment. Greed begets blindness. I do find it incredible how few of the most respected pundits and experts did not predict the seriousness and severity of our economic tailspin.

3/3/09

How Much Do You Love Rush?

“Hello friends, my name is Michelle Malkin, and I want to talk with you briefly about one of the best love forums on the web. It’s the new Limbaugh Intimacy Emotive Scale-LIES. I want you to know that I found my soul mate through LIES! It has changed my life. Mr. Limbaugh has hired some of the best and brightest minds from CPAC, the Heritage Foundation, and Drudge Report to develop a simple inventory of questions to determine if you are really in love with Rush. I mean not just like Rush, but truly worship the ground he walks on. LIES prepares a score and sends it to you so that you know in a very objective, unbiased way how much you love Rush. Please take a moment and visit RUSHLIES.COM. It will change your life.

Here are just some of the questions on the Limbaugh Intimacy Emotive Scale (LIES).”

1. I like Rush when he wears his black silk shirt: (Please check all that apply.)
• Wide open at the collar with two or more buttons unbuttoned
• With a wide white tie
• Open with a large sign of the zodiac medallion
• All the above

2. Rush Limbaugh is more intelligent than: (Please check all that apply.)
• Charles Darwin
• Ayn Rand
• Socrates
• Framers of the Constitution
• John Maynard Keynes
• All the above

3. Which of the items listed below truly defines Rush’s greatness:
Rush Limbaugh is greater than:
• 2 Bill O’Reillys
• 4 Sean Hannitys
• The Republican National Committee
• A multi-year addiction to hillbilly heroin
• Any black quarterback in the NFL
• All the above

4. If Rush Limbaugh was gravely ill and needed someone to make an organ donation, I would donate:
• A pint of blood
• A kidney
• A part of my liver
• One of my corneas
• My laparoscopic band
• All the above

“By answering these and a few other questions, you too will learn how much you really love Rush Limbaugh. Don’t delay. Go to RUSHLIES.COM and find out your Rush Love Score today.

If you sign on in the next two days, you will be placed in a lottery to go with Rush the next time he visits the Dominican Republic to boast the local hospitality industry in Santo Domingo. Remember everyone looks young in the Caribbean. It’s just the humidity!”