Michael Barone Yesterday

Democrats Were Wrong on Fannie Mae and Freddie Mac

Seventeen. That's how many times, according to this White House statement (hat tip Gateway Pundit), that the Bush administration has called for tighter regulation of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. Congress has cooperated only once. In spring 2007, as House Financial Services Committee Chairman Barney Frank likes to point out, the House did pass a bill in response. The Senate did not act until 2008; Senate Banking Committee Chairman Christopher Dodd spent most of 2007 camped out in Iowa running for president. The legislation passed by Congress in 2008 enabled Treasury Secretary Henry Paulson to put Fannie and Freddie into federal conservatorship this summer when they failed. But it didn't prevent them from spewing a huge amount of toxic waste, in the form of subprime and Alt-A mortgages, into our financial institutions from 2004 to 2007. As Stephen Spruiell points out in The Corner on National Review Online, Fannie and Freddie spewed out $1 trillion worth (face value) of subprime mortgages between 2005 and 2007. That's a whole lot of toxic waste. For more detail, consult the items referred to in my previous blogpost on this subject (most of the comments seem to have been disputes about the plot line of the movie It's a Wonderful Life, which I should think could be settled by consulting a reference work).

Michael Barone Yesterday

Barack Obama Is Palling Around With Terrorist William Ayers

This New York Times story is an attempted whitewash of Barack Obama's long-time relationship with unrepentant Weather Underground terrorist William Ayers. Stanley Kurtz of National Review Online explains why the article is a whitewash. Other trenchant critiques come from Abe Greenwald at Commentary's Contentions blog and Scott Johnson at PowerLine. Sarah Palin raised the issue at a Carson, Calif., rally Saturday and characterized Obama, fairly, I think, as "palling around with terrorists."

Bonnie Erbe Yesterday

Neither Barack Obama nor John McCain Will Deal With the Immigration Problem

Who is right on immigration?

Americans who want illegal immigrants returned to their homelands find a hero in neither presidential candidate. We who want illegal entrants to get in line like their legal cousins and wait for U.S. visas, or who want the United States to deport those who arrived here legally with visas and overstayed those visas (about half the population of illegal immigrants) have no dog in this presidential fight and no candidate to support because that candidate does not exist.

Those of us who believe illegal immigration is decreasing the quality of life in America will find no solace no matter who is elected. Those of us who shudder at overdevelopment, destruction of open space, the loss of natural habitat, the nonstop increase of sprawl, traffic jams, and greater air and water pollution will not see this issue resolved by Barack Obama or John McCain. Those of us who do not want more and more of our tax dollars going to subsidize education and healthcare for illegal immigrants will find no friend in the White House. It is the most important issue facing America and the one no candidate wants to touch.

John Aloysius Farrell Yesterday

The Wall Street Bailout and Caylee Anthony—Ann Coulter Sees the Connection but I Don’t

I think some right wingers have moved past Worried. They've arrived at Frantic, on their way to Hysteric.

Why else would Ann Coulter blame Caylee's mom for the nation's economic crisis?

Caylee, of course, is the adorable daughter of Casey Anthony, a young Florida mother who failed to report the toddler's disappearance until 31 days had passed last summer.

The search for the missing 2-year-old and the saga of the troubled Casey and her family have morphed into a kind of national soap opera and cable TV news bonanza.

But the connection with the battered economy is difficult to discern.

Bonnie Erbe Yesterday

Barack Obama and John McCain on Immigration, the Issue Neither Wants to Discuss

Immigration is the issue neither candidate will address. 

If you go to Sen. Barack Obama's campaign website, it says the following:

John Aloysius Farrell Yesterday

Computer Keyboard Tips

I’ve been using a computer as a word processor for almost 30 years.

How fondly I recall those good ol’ days of Atex and MS-DOS, system crashes, and colleagues losing four or five hours work in a blink. On deadline.

And down through the decades, there have been too many moments when, while I tried to pull off some complex maneuver involving text and the mouse, a friend would start laughing, look at me with pity, and ask, “What are you doing?”

And then, do the same thing with a quick easy click or keystroke.

Which, after learning, I promptly forgot.

So here, as a public service to those, like me, who cannot remember any of the shortcuts that can make life easy, is a link to David Pogue’s excellent column in the Oct. 2, 2008, edition of the New York Times.

News you can use. Enjoy. And, if you are like me, print out a copy, laminate it, and keep it on your desk.

I know we are many. It was the most popular story on the Times website over the weekend.

Bonnie Erbe October 03, 2008

Economy Is in Bad Shape, But Have We Hit Bottom Yet?

Have we hit bottom yet?

Yes, unemployment is rising and, yes, we have tough times ahead. But if you're like me, you keep asking yourself, "Have we hit bottom yet?" I was hoping we had before the recent series of fire-sale buyouts and failures of major banks, brokerage houses, and insurance companies. Clearly I was being too Pollyanna-ish.

At this point with job losses spiking, we know the worst for the economy is yet to come. Ours is a consumer-based economy, and obviously Americans won't be consuming at record levels anytime soon.

But how long will it last and how hard will we be hit?

Robert Schlesinger October 03, 2008

Sarah Palin, the Mainstream Media Filter, and the Growing Culture of Casual Lies

SHOREHAM, Vt.—Sarah Palin took great pleasure last night in declaring her independence from the "filter" of the mainstream media. No doubt.

Scoring cheap shots off of the media is easy, especially for a Republican.

But here's why the "filter" of the media is important: Politicians lie.