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Archive for Politics

Leave Shirley Sherrod Alone.

Andy Spero | July 21, 2010 | 0 Comment(s) |

We have deep sympathy for Shirley Sherrod, and the Kafkaesque predicament in which she finds herself.

The former regional USDA official was forced to resign from the Department of Agriculture for seemingly racist comments that were clearly taken out-of-context and very much contradict the point of her anecdote.

The story she related was a confessional of her journey–of how she grew to treat fairly someone of a different race–of how she overcame her prejudices. In addition, she was describing events that happened in 1986, which is nearly one… Read the rest

High Unemployment: It’s Bush’s Fault!

Andy Spero | July 7, 2010 | 0 Comment(s) |

Illegal Immigration and High Unemployment Rates

As is our style, the post title is tongue-in-cheek but true, too.

Like almost every other reasonable person, we’re sick of hearing how every problem that the Obama administration can’t manage is former President Bush’s fault.

Some problems certainly were of President Bush’s making. For example, his administration’s panicked response to the rapid deterioration in the creditworthiness of certain financial firms in the fall of 2008 exacerbated the crisis-in-confidence and deepened the recession. However, other tragedies, like the Gulf Oil leak and the Obama administration’s… Read the rest

Where Have the Grownups Gone? We Ask, again.

Andy Spero | June 5, 2010 | 0 Comment(s) |

They Play Games while the Gulf Crisis Worsens?

We had planned to write separately about (1) Armando Galarraga’s imperfect perfect game and (2) about the federal government’s very lame response to the massive oil leak and spill in the Gulf of Mexico.

However, after reading Peggy Noonan’s column this morning, it seems best to combine the two seemingly disparate topics into one post. Ms. Noonan doesn’t make the connection that we do, which is the juxtaposition between those who play children’s games for a living acting who act like adults and… Read the rest

Financial-overhaul, Bank Ratings & Scenario Analysis

Andy Spero | May 24, 2010 | 0 Comment(s) |

Have Banks or Regulators Required Such Analyses?

There’s an interesting article in today’s edition of The Wall Street Journal with the title, Overhaul Puts Bank Ratings at Risk.

The article explains how the version of the financial industry regulation bill that was passed by the Senate significantly weakens implicit government support for banks that were or may still be presumed to be “too-big-to-fail.” If that version of the bill becomes law “TBTF” will have been transformed to “NTBTF,” depending upon the whims and fears of the regime in charge… Read the rest

Arizona and What To Do with Illegal Immigrants

Andy Spero | April 28, 2010 | 0 Comment(s) |

With the recent passage of a new, strong, immigration law in Arizona, the media are abuzz, again, with news and discussions about illegal immigration and illegal immigrants. So, it seems worthwhile to remind readers our proposal to eliminate illegal immigrants.

We are support the protection of the nation’s borders to eliminate illegal immigration and find it ridiculous that the nation does little to protect them. We also support the substantial expansion of legal immigration for all classes of folks, not just professionals. Peasants, like our ancestors, deserve a chance, too.… Read the rest

Mark Critz and Jason Altmire

Andy Spero | April 26, 2010 | 0 Comment(s) |

We don’t usually write about Congressional candidates outside of our own district, but we saw a campaign ad on Saturday, in which the hoarse and near voiceless Mark Critz claimed that Republican attempts to portray him as a liberal and link him to Nancy Pelosi were untrue.

Who is Mark Critz? He is the Democratic candidate in the special election to replace the late John Murtha in Pennsylvania’s 12th Congressional District. (Checkout this fine example of gerrymandering at http://en.wikipedia.org/wiki/File:Pa12_109.gif.)

Why would the Republican National Committee attempt to link him… Read the rest

They’re Terrified of the Tea Party!

Andy Spero | April 24, 2010 | 0 Comment(s) |

The recent dispute between Rush Limbaugh (see, for example, Liberals and the Violence Card) and former President Bill Clinton is very illuminating, especially Mr. Clinton’s references to violence, the Oklahoma City bombing, militias, etc.

It seems that many folks, particularly those on the right, view Mr. Clinton’s statements–as well as the statements of others on the left–as mere cynical and rhetorical attempts to portray conservatives and the Tea Party movement and its members as something threatening, dangerous, and extremist. (As cynical as the statement “It depends on what the meaning of the… Read the rest

Correcting Finance Industry Misconceptions

Andy Spero | March 31, 2010 | 0 Comment(s) |

The April 5th edition of National Review has a three-article, Financial Special section, consisting of:

  1. We Didn’t Deregulate by Veronique de Rugy (not on-line, yet)
  2. Break Up The Banks by Arnold Kling
  3. Resolve to Reform by Stephen Spruiell & Kevin D. Williamson (not on-line, yet)

All are worth reading but for slightly different reasons.

Ms. de Rugy does a very nice job of summarizing the misconception that there was general deregulation of financial firms in recent years. She also makes the point that certain policies and responses… Read the rest

Grow Up

Andy Spero | March 29, 2010 | 0 Comment(s) |

Norman Podhoretz has a good opinion column in Monday’s edition of The Wall Street Journal: In Defense of Sarah Palin.

We like it for a couple of reasons, including the fact that Mrs. Palin deserves to be defended from her critics on both the right and the left.

While we don’t always agree with her–see Dick and John Are Homographs for instance–she is very much like us and many people that we know in the suburbs and exurbs of Western Pennsylvania; you know, “bitter, gun-totin’ and God-fearin’.”

We… Read the rest

Interest Rate Swaps and Stupidity

Andy Spero | March 22, 2010 | 0 Comment(s) |

There is a front-page article in The Wall Street Journal today, entitled, Interest-Rate Deals Sting Cities, States.

It about interest rate swaps, and provides more reasons to despise politicians. Are they stupid, willfully ignorant, or morally-challenged? Short answer: many are all three.

A Very Short Primer

All things equal, banks make variable-rate loans because they don’t want to bear the risk of interest rates changing. If a bank makes a loan at a fixed rate, and subsequent rates rise, then the loan loses value. At least for that moment,… Read the rest

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