Learning from Dogs

The deafening sound of silence

Thugs from the Service Employees International Union (SEIU) and Chicago’s National Political Action trespassed on a Bank of America Executive’s front lawn in a so-called “protest” over mortgage defaults.

SEIU Protests on private citizen's front lawn

This same group went after AIG executives in March of last year (see video).  I commented on local television and to anyone who would listen then how misdirected their anger was, and I repeat that sentiment now.

Where is the President’s outrage at these mob tactics against a private U.S. citizen?  I can only assume his silence is tacit approval. The recently-resigned President of SEIU, Andy Stern, is reportedly Obama’s most frequent visitor at the White House, after all. And Obama has made it abundantly clear that he has no respect for private industry and free enterprise.

by Sherry Jarrell

First General Motors, then Student Loans. What’s next, Mr. President?

In a Bloomberg BusinessWeek article, the most recent seizure of private industry in Venezuela was reported, with as much calm and lack of alarm as one may report on the the weather or a walk in the park.

I fear that this is where the U.S. is headed in the all too near future, given the takeover of the auto and student loan industries, and President Obama’s apparent admiration of President Chavez and all he does.

Pres. Chavez

To quote from the article, which speaks for itself:

President Hugo Chavez announced Saturday the expropriation of a group of iron, aluminum and transportation companies in Venezuela’s mining region.

Among the expropriated companies is Materiales Siderurgicos, or Matesi, which is the Venezuelan subsidiary of Luxembourg-based steel maker Tenaris SA.

Venezuela’s socialist president said in a televised that his government was going to take over Matesi because “we couldn’t reach an amicable and reasonable settlement with the owners.”

Chavez said production at the company has been paralyzed since midway through last year, when Venezuela’s president announced plans to nationalize it.

Chavez said he was also going to expropriate Venezuelan-owned Orinoco Iron and aluminum-maker Norpro de Venezuela C.A., which is an affiliate of the U.S. company Norpro in association with France’s Saint Gobain, among other companies.

As well, Venezuela will take over transport companies that ship raw materials in areas southeast of Caracas. He did not name the companies.

Since coming to power more than a decade ago, Chavez has nationalized major companies in the electricity, oil, steel and coffee sectors, as well as other private businesses.

by Sherry Jarrell

A giant of US television retires from the screen

One of the fascinating aspects of my new American life is seeing how loud the volume of dissent is from the American

Bill Moyers

people about the shenanigans on Wall Street and the Too Big To Fail banks.  There is an intensity and passion that I can’t see happening on the other side of the Pond.  Maybe this is the cultural legacy of a people that just a short time ago, relatively speaking, were opening up this giant country seeking a better way of life than the ‘old countries’.

This intensity and passion is why, in the end, I believe that the solution to the huge crisis that still awaits us will start from this side of the Atlantic.  But it will get a whole lot worse before it gets better, such is the complexity and depth of the fraud that is being visited on decent, ordinary folks in this and many other fine countries.

Bill Moyers of the Bill Moyers Journal on PBS is retiring.  He’s approaching 76 and that’s a grand age to be dealing with the workload and stress of a weekly television presentation.  His last Journal was broadcast on the 23rd April, a week ago today airing two really important topics.  My only regret is that I haven’t been here sufficiently long to view many more of his Journals.

William K Black

In that last broadcast on the 23rd, Bill had two key interviews.  In this Post, I want to bring to your attention his first report, which was an interview with William K Black, now an academic but, just as importantly, a former bank regulator.  William Black really understands what is going on in banking.

The interview is both fascinating and captivating because, well to me anyway, it explains in terms that us laymen can understand, exactly what is going on and why it is so terribly important that legislation and regulations are brought into force to stop this fraud ever happening again.

This interview has not yet made it’s way onto YouTube so I can only post the link to the Bill Moyers website.

But, please, if you care about what is happening to us in whatever country you live in, click on this link and watch the interview.

And if you want to watch the earlier interview that Bill Moyers had with William Black then here it is.

By Paul Handover

With thanks to one of our very regular followers, Gordon, for passing this on.

Well said, that sailor!

By Paul Handover

A view of the Union from across the Pond

Dr Sherry Jarrell commented recently on her disappointment with President Obama, with two specific criticisms:

A) the way he speaks to the people, or perhaps to some of the people

B) his handling of the economy

With this in mind and given that the President has now been in office for long enough for a judgement to be made, here is a view from this side of the water.

HOME

How he speaks to the people. I can’t judge this; I don’t currently have a television, let alone one with access to all the US media; And “yes”, I know this is a bit bizarre, but there you go …

What does surprise me is that during the election he showed himself to be an orator of considerable talent. Indeed, without this talent to inspire people it seems unlikely that he could have got elected in the first place. So what has gone wrong? Do the people he is speaking badly to perhaps deserve it?

The economy? Dr Jarrell is the expert. However, I just caught sight of a headline about US growth, which seems to be picking up surprisingly well.

Surely it is not all gloom, even if unemployment is high at nearly 10%. However, if you think this is bad you should visit Spain.

Health? As a European, one struggles to understand why he has been criticized by some on this issue. The US can’t afford it? Well, perhaps the bankers should be giving up some of their vast salaries and bonuses to help pay for it.

Priorities? How can the USA possibly NOT have a universal health system, when poor little Cuba has one? As I understand it, health consumes about 17% of US GDP, which is WAY above other comparable nations.

Something is wrong here. Have the medical profession and pharmaceutical companies got Americans by the short and curlies? And even this 17% didn’t until now include tens of millions of people. I would really like to have someone’s take on this.

The Republicans? Well, are we seeing a great party beginning to implode? The hysteria over the health reforms is astonishing. The “Tea Party” group has issued all kinds of threats and complaints that even senior members of the Republican party have not criticized. What is going on here?

Do they have no understanding of how modern, civilised societies work? As a friend of mine put it (as it happens a strong supporter of the Cuban regime, which I certainly am NOT) “You judge a society by the way it treats its poorest and weakest members.” On this score, the Republicans are living on another planet.

I read a fascinating take on this the other day in the New York Times.  In essence, Frank Rich claims that the Tea Party hysteria is nothing to do with the health system, but concerns the fact that WASPs feel threatened as they will soon be in a minority in the USA.

Yup – hard to believe for a British kid brought up on John Wayne, the Pilgrim Fathers, New England and all that … but true. Even so, if the Republicans are not to become a laughing-stock they need to find some more statesmanlike leaders. Sarah Palin just doesn’t cut the mustard I’m afraid.

Oil & Energy? Well, he is cracking down on gas-guzzlers. He has to have points there, surely? It is both essential and long overdue. On the other hand, he has sanctioned oil exploration in hitherto off-limits areas, the  idea being to reduce dependency on imported oil. Very commendable, but the aim of all nations is to reduce consumption, isn’t it?

AWAY

As a European, whatever impression one has of the USA has to be tempered by remembering that one does not live there. One simply cannot pick up the real mood of the country unless one has feet on the ground, and so all the above comments are impressions, possibly misplaced.

But on INTERNATIONAL affairs one is on slightly firmer ground, and of course what the US does internationally also concerns us more directly. When he took office, I decided I would judge him on one thing in particular ……

Palestine: There has been precious little movement since 9/11. Lots of “talks”, “negotiations” and proposals of course, but underlying it all the feeling that the Israelis are not going to give up anything at all.

The present government in particular seems like an immovable object on many key issues that must – frankly – be resolved by compromise on all sides. This is where an irresistible force comes in, and this can only be Obama.

Well, there have been positive signs, but I have yet to see evidence that pressure on Israel will be both real and sustained. Sometimes “negotiations” and “frank-talking” are just NOT enough, and this is one of them. The jury has retired with some recent positive feelings, but it is still out, and very sceptical.

Iran/China?: Obama has tried to be nice to these people, but – as with Israel – being nice sometimes doesn’t do it. There is I feel serious trouble ahead with China, one way or the other. Will Obama be tough enough to deal with it? The jury is still out on that one, too.

SUMMARY: Humans tend to be optimistic folk: we believe there is a solution out there somewhere. We believed Obama might be it.

We were as ever hopelessly-idealistic. Nevertheless, I am mindful that this is an extremely inexperienced President, chosen by Americans for his youth, optimism and charisma more than his long experience as a statesman.

He will need time. Unlike some Americans – who already think he is the anti-Christ (those strange Republicans again) – I am prepared to wait a bit longer to make a final judgement.

By Chris Snuggs

Little reason for celebration

The official unemployment rate of the U.S. economy remains at 9.7%,  and the underemployment rate increased to 16.9%.  These numbers represent a real tragedy for many Americans.

While the White House tries to celebrate the creation of 162,000 new jobs last month, at least 48,000 of these new jobs are government jobs, specifically temporary census workers, who are doing unproductive work and are being paid with taxes collected from the rest of the private economy.

Unemployment

Employment also increased in temporary help services and healthcare, but continued to decline in financial activities and in information, which is interesting given the recent comments by President Obama that the government takeover of the student loan program tucked into the health care bill “took $68 billion from banks and financial institutions.”(Obama’s  April 1 remarks)  That’s a lot of jobs, Mr. President.

Seems like there is more concrete evidence that, rather than creating jobs, the President’s policies are costing the economy jobs.

by Sherry Jarrell

Hang on, folks.  We have some good news!

It is a sad and lonely vigil that we who long for good news sometimes keep. But now and again, like London buses, it does arrive in welcome batches, and so it has proved this week.

Oh look! Here's five of them!

US Health Care

First of all, our faith in Obama has been somewhat resurrected from what had become – in my case at least – a depressingly-comatose condition.  For he has managed to squeeze his

Band-aid or long-term fix?

health bill through Congress, which is more than the glamorous Clinton duo managed the last time it was tried.

Now I am sure Learning from Dogs has many American friends – at least, I hope so. And they are surely better-qualified to give an objective view of exactly what has been achieved. To listen to the Republicans, you’d think the end of the world had arrived, yet it is surely surreal that “the greatest country in the world” should NOT have universal health care, isn’t it?

As far as I understand, another 32 million Americans will now have health cover, even if that still – apparently – leaves some outside the fold. Well, let’s not quibble; it’s a major step forward. How even the reddest-necked Republicans could accept poor Cuba having better overall health care for their poorest citizens than the mighty USA was always a mystery to me. So, let’s chalk it up and celebrate.

Palestine

Secondly, the Obama-Clinton team is AT LAST standing up to Israel. Now this is a major topic, and beyond the scope of one post, but if you empathize – as I feel one should – then from a Palestinian’s point of view, the Israelis are occupying their territory by force. And they are not alone in this belief; the international community has long considered the Israeli presence in the West Bank and Jerusalem to be illegal. Yes, Israeli supporters may find ways of rationalizing their presence there, but the facts speak for themselves.

“Whom the Gods seek to destroy, they first make mad.” Well, Netanyahu may not quite be mad, but he was certainly very silly – in my opinion – to so impudently announce more building in Jerusalem just as efforts to restart serious negotiations were under way. How he could imagine this would not be a major slap in the face to the US is a mystery. Perhaps he was just seeing how much he could get away with? Well, he seems to have found out, and for once – after nearly a year of pussy-footing about with Israel – the USA is moving closer to the international community’s position.

The world – let alone the Palestinians – needs a permanent solution to the problem, and that will not be achieved by Netanyahu prattling on about Jerusalem “belonging to Israel”. It is obvious to any outsider that the city has to be shared. As with Berlin, what will no doubt be a divided city for some time will eventually – through the force of position and logic – become a united one. WITHOUT goodwill (and there has been precious little in recent years from victorious Israel) this running sore will only come back to bite the Israelis time and time again. Friends of Israel – as I count myself in fact – should make this point more strongly.

However, the only friend that really counts is the USA, and we need them to keep up the pressure. Can and will Obama tough this one out in the face of the very powerful Israeli lobby? I believe Obama has said that he would prefer to be a one-term President if it meant he could get some real reforms through, and this is a welcome change from the “I’ll do anything to stay in office” syndrome that we seem to be seeing in Britain right now.  Let’s hope he can live up to this promise. It is after all now nearly a decade since 9/11, after which there was so much talk about “finding a solution” that has – so far – come to little.

Google & China

Where next?

Finally, we hear from Asia that China is cross with Google for removing filters from its search engines. Now we have got used to cosying up to China, to the point where the west imports a VAST quantity of cheap goods that have helped China’s economy to make a real leap forward, and of course pay for a vast increase in their military spending.

Yet the truth remains the truth, no matter how you dress it up. It remains a Communist dictatorship.

That Google even tolerated acquiescence in the fascist suppression of free speech in the first place was a disgrace, but they seem now to be moving to a more defensible position. What was sad about their original  move into China was that they are big and powerful enough to have made a stand before. All over that vast country, individuals are trying to stand up to a fascist state, so how must they have felt when a vast, rich and powerful organisation from the west (Statue of Liberty and all that) got into bed with their oppressors?

Well, perhaps those little people will feel a bit better now. Predictably, the Chinese are now making threats against other “partners” of Google, saying that they “must obey its laws”. Well, we’ll see how this plays, but united we stand, divided we fall, and is it moral to respect immoral laws?

Yes, it will irritate the Chinese Communist Party leaders (I won’t be losing any sleep there …) and No, it won’t make a vast practical difference in the short-term; the Chinese have their OWN search engines, but it is a symbol, and symbols count. Sooner or later, the Chinese will join the modern world; but every now and then the free world needs to give it a prod in the right direction.

By Chris Snuggs

[Explanation of title to our non-UK readers. Londoners are so used to waiting in the cold for a bus to arrive and then having three arrive at once, that the phrase has become a little bit of English folklaw! Ed.]

President Obama’s lack of grace.

Shame on you, President Obama.

Presidents Obama and Bush

To publicly comment on the singular importance of the Iraqi elections without crediting President Bush for having the courage and fortitude to free those people from a tyrannical leader who threatened the security of the free world – shameful.

Of course, you also failed to acknowledge President Bush’s role in enabling the historic Afghanistan elections of 2009. I just hoped you would have matured a little since then.

The media is not doing much better on this issue.  But then we expect less of our media than our President.

by Sherry Jarrell

US health care reform comes with strings, nay chains.

Once a single-payer health care program is enacted into law, the US Government will assume the right to tell us how to live our lives.  Our health will be their responsibility.  Government officials will feel empowered to tell us what to eat and drink, what risks to take, whether we can smoke, how much weight we can gain and how much exercise we must get.

If you have any doubt, consider the following statements from the Obama administration over the last year. The clear message is if the government pays for something with tax dollars, it has both a right and a responsibility to tell the recipients of those dollars how to conduct themselves.

• “This is America. We don’t disparage wealth. We don’t begrudge anybody for achieving success,” Obama said. “But what gets people upset — and rightfully so — are executives being rewarded for failure. Especially when those rewards are subsidized by U.S. taxpayers.”   http://wcbstv.com/national/executive.pay.limits.2.926332.html

• President Obama challenged top bankers to explore “every responsible way” to increase lending, saying they were obliged to help after being rescued by taxpayers. He asked them to “take a third and fourth look” at their small-business lending. He also exhorted the executives — both in private and in public — to drop their opposition to an overhaul of the nation’s financial industry.  ”If they wish to fight commonsense consumer protections, that’s a fight I’m more than willing to have,” Obama told reportersin the Diplomatic Reception Room of the executive mansion.  http://www.msnbc.msn.com/id/34416646/ns/business-us_business/

• “Treasury has instruments that can address the excessive retention bonuses, and add provisions to ensure that taxpayers are made whole,” [White House spokesman] Gibbs said.  http://www.msnbc.msn.com/id/29714402/ns/business-us_business/page/2/

• “I intend to hold these banks fully accountable for the assistance they receive, and this time, they will have to clearly demonstrate how taxpayer dollars result in more lending for the American taxpayer,” said President Obama.     http://www.whitehouse.gov/the_press_office/remarks-of-president-barack-obama-address-to-joint-session-of-congress/

• Obama said it is “wholly unreasonable to expect that American taxpayers would or should hand this administration or any administration a $700 billion blank check with absolutely no oversight or conditions, when a lack of oversight in Washington and on Wall Street is exactly what got us into this mess.”  Obama said taxpayers should be treated like investors if they are being asked to underwrite the bailout.  http://www.cnn.com/2008/POLITICS/09/23/campaign.wrap/index.html

• “What’s really frustrating me right now is that you’ve got these same banks who benefited from taxpayer assistance who are fighting tooth and nail with their lobbyists up on Capitol Hill, fighting against financial regulatory control,” Obama added.  http://au.biz.yahoo.com/091213/31/2aafh.html

By Sherry Jarrell

Maybe it’s me but at any level this appears to be very wrong!

Haldeman - Freddie Mac

Williams - Fannie Mae

The US Government put huge amounts of taxpayer’s money into the two huge US Mortgage companies Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation).

Now the BBC has reported that:

The heads of US mortgage giants Fannie Mae and Freddie Mac may each receive pay packages of up to $6m (£3.7m) for 2009, depending on company performance.

Now I’m not an American nor do I really understand the issues BUT when taxpayers put in $111,000,000,000 of THEIR money into these organisations (that’s $365 for every man, woman and child on the US Census!) and so many of those same US taxpayers are up the proverbial financial creek without a paddle, there has to be a better way of rewarding top bosses (of US publicly owned corporations) than the option of $6,000,000 each!

But the regulator which decided the pay levels said the awards were 40% lower than before the government bailout.

The sums involved reflected the need to attract and retain talent, it argued.

Frankly, I just don’t believe that there aren’t many other incredibly capable business leaders who would do these jobs for a fraction of six million dollars.  (The present incumbents are Michael Williams at Fannie Mae and Charles E. Haldeman Jr. at Freddie Mac who will receive a base of $900,000 in 2010 with the opportunity to earn $5.1 more if “certain targets are met“.)

Read the article here – I’m going to lay down in a dark, quiet room for a while!

By Paul Handover