House Republicans Were Right

House Republicans voted down the first bailout bill because they were afraid it would become just another government boondoggle. But after it was loaded up with more pork than all the pigs in Iowa, they changed their minds. Guess what? It has become just another government boondoggle. Sec. Henry Paulson's idea was to buy up all the toxic mortgages to get them off the banks' books. He long since shelved that plan. His next idea was to buy stock in the banks so they would have fresh capital and could start making loans again. However, instead of making loans, some banks are using the money to pay dividends, give executives bonuses, and buy other banks. For example, PNC Financial Services received $7.7 billion in government money and promptly spent $5.6 billion of it to buy National City Corp. Lawmakers are protesting but they should hardly be surprised since they gave Paulson unlimited authority to spend the money any way he wanted to, with hardly any supervision and no restrictions on what the recipients did with the money. In addition, Paulson hired the Bank of New York Mellon to run the program. On the same day Bank of New York Mellon received $3 billion itself, apparently deciding that it could use some cash. Hardly anyone noticed.

What A Drag

WASHINGTON (AFP) – Embarrassing revelations about her costly campaign wardrobe and bloopers about the vice president's job description are raising fresh fears that Sarah Palin is dragging down the Republican ticket.
New polls showed Wednesday that seven weeks after John McCain plucked the Alaska governor from political obscurity to be his running mate in the November 4 elections, Palin is seen as an increasing liability for Republicans.
The Wall Street Journal/NBC News poll found that Americans are less and less convinced she is worthy to serve as the country's number-two leader.
"Her numbers have plummeted in our poll ... what's more 55 percent think she's unqualified to serve as president if the need arises, which is a troublesome number given McCain's age," said NBC political director Chuck Todd.
The poll also puts the 72-year-old McCain 10 points behind his Democratic rival Barack Obama, and says that 47 percent of those surveyed viewed Palin negatively.

That's Alot of Lipstick

Republican National Committee spends $150,000.00 on Governor Palin's wardrobe. What hypocrites.

Worst Ever / Maybe not

Uh-Oh

US Debt Clock Runs Out of Digits

Until last month, the clock had enough digits to measure US debt levels
The US government's debts have ballooned so badly the National Debt Clock in New York has run out of digits to record the spiralling figure.
The digital counter marks the national debt level, but when that passed the $10 trillion point last month, the sign could not display the full amount.

Maverick My A _ _

October 5, 2008
The Nation
Who You Callin’ a Maverick?
By JOHN SCHWARTZ
There’s that word again: maverick. In Thursday’s vice-presidential debate, Gov. Sarah Palin of Alaska, the Republican candidate, used it to describe herself and her running mate, Senator John McCain, no fewer than six times, at one point calling him “the consummate maverick.”
But to those who know the history of the word, applying it to Mr. McCain is a bit of a stretch — and to one Texas family in particular it is even a bit offensive.
“I’m just enraged that McCain calls himself a maverick,” said Terrellita Maverick, 82, a San Antonio native who proudly carries the name of a family that has been known for its progressive politics since the 1600s, when an early ancestor in Boston got into trouble with the law over his agitation for the rights of indentured servants.
In the 1800s, Samuel Augustus Maverick went to Texas and became known for not branding his cattle. He was more interested in keeping track of the land he owned than the livestock on it, Ms. Maverick said; unbranded cattle, then, were called “Maverick’s.” The name came to mean anyone who didn’t bear another’s brand.
Sam Maverick’s grandson, Fontaine Maury Maverick, was a two-term congressman and a mayor of San Antonio who lost his mayoral re-election bid when conservatives labeled him a Communist. He served in the Roosevelt administration on the Smaller War Plants Corporation and is best known for another coinage. He came up with the term “gobbledygook” in frustration at the convoluted language of bureaucrats.
This Maverick’s son, Maury Jr., was a firebrand civil libertarian and lawyer who defended draft resisters, atheists and others scorned by society. He served in the Texas Legislature during the McCarthy era and wrote fiery columns for The San Antonio Express-News. His final column, published on Feb. 2, 2003, just after he died at 82, was an attack on the coming war in Iraq.
Terrellita Maverick, sister of Maury Jr., is a member emeritus of the board of the San Antonio chapter of the American Civil Liberties Union of Texas.
Considering the family’s long history of association with liberalism and progressive ideals, it should come as no surprise that Ms. Maverick insists that John McCain, who has voted so often with his party, “is in no way a maverick, in uppercase or lowercase.”
“It’s just incredible — the nerve! — to suggest that he’s not part of that Republican herd. Every time we hear it, all my children and I and all my family shrink a little and say, ‘Oh, my God, he said it again.’ ”
“He’s a Republican,” she said. “He’s branded.”