David Ettlin’s “The Real Muck” piece, “The Sun Massacre” … is well written about a very sad subject. It may be found here: http://tinyurl.com/cnoy83
If you are journalist or care about the value of newspapers to the social fabric of our community – read it in private as it could move you to tears.
It is just heartbreaking to read so many names of folks with whom we have worked with for years.
Our prayers go out for the talent that has left the building, for their families and ultimately, our greater community.
A colleague wrote on my Facebook wall: “A Sun friend says nobody is left at the row of desks where he sits... they're all gone.”
****
“The Real Muck” - Baltimore Sun Massacre by David Ettlin Wednesday, April 29, 2009 (See my media disclosure here. I work for Tribune.)
Quarter of newsroom staff fired in a bloodbath by bankrupt Tribune Co.
Tears, cheers for departees on a dark day at The Sun
Tribune Company reapers whacked their way through the Baltimore Sun newsroom Tuesday evening and Wednesday afternoon in a bloodbath of layoffs that decimated the staff – editors, columnists, photographers, copy editors, page designers and support personnel.
Except in the sports department, the reporting staff seemed to remain mostly intact – but with some alterations in duties as the company reorients the newspaper toward an online and local news focus.
As much as I expected (and in my last blog posting foreshadowed) new layoffs at The Sun, my former home of 40 years, the extent of the slaughter was unimaginable: At least 15 editors, and 40 other staffers. The Washington-Baltimore Newspaper Guild issued a statement saying Tribune was cutting 27 percent of the already reduced newspaper staff. Online accounts put the total number of layoffs as high as 61.
[…]
Accounts that these key editors – some, like … having dedicated more than a quarter-century of their lives to the newspaper – were given 15 minutes to get out of the building and watched over by a beefed-up contingent of security guards could not be confirmed.
[…]
Shopping bags and tears
Ellie Baublitz, who put in 22 years and four months as a Sun editorial assistant after a few years as a community news freelancer, wore a spritely yellow outfit to work Wednesday, to “cheer people up” -- but having heard from a newsroom confidant of the Tuesday Night Massacre, she came prepared.
“I stuffed two shopping bags into my briefcase, just in case I needed them.”
About 2 p.m., as the newsroom awaited an expected announcement, Ellie and fellow editorial assistant Fay Lande were summoned by a top editor into a glass-windowed conference room overlooking the newsroom and told of their layoffs.
Ellie came out in tears and, by one reporter’s account, “That really broke the newsroom up, when Ellie broke up.”
In a telephone chat Wednesday night, Ellie acknowledged the account as “pretty accurate,” and recounted how colleagues cheered and applauded staffers leaving the building after getting the same fate.
“It was pretty ugly down there,” Ellie said. “They probably did me a favor. The last couple of years have been really bad.”
For Ellie, that included the death of one of her three children and transfer by the newspaper from one suburban office to another, in shutdown after shutdown, until she was commuting from her home in rural Carroll County into the city each day.
She had an interesting spin on the timing of the layoffs. “Friday [May 1] starts the new vacation year, so they had to get rid of us before then. I know how the jackals work.”
After Ellie and Fay got the word, one reporter said, “it was like the Angel of Death walking around the newsroom.”
[…]
If you want a description of what it's like to be a survivor, you can use this unattributed quote: "It's a little like being the turkey who survives Thanksgiving but knows Christmas is a month away."
{…}
Read the entire article by David Ettlin here: Baltimore Sun Massacre
See my media disclosure here. I work for Tribune. And here for additional disclosures
According to “various tribune employee reports and blogs,” the following employees have lost their jobs…
If you read this list and you see an error – or where an addition or a correction is warranted – e-mail me right away at kevindayhoff AT gmail DOT com with the word - Sun Massacre – in the subject line.
If you are on this list and you wish to have your name removed for any reason – no questions asked – e-mail me at kevindayhoff AT gmail DOT com with the word - Sun Massacre – in the subject line.
However, think about, your name is already “out there”… I did a lot of thinking before I posted this and the bottom line is “we” in the journalism community can not help find jobs for “our” colleagues if we do not know you may looking for a job.
If you are like me - - I can no more stop writing than I can stop breathing…
Two quotes come to mind:
“When I stop working the rest of the day is posthumous. I'm only really alive when I'm writing.” Tennessee Williams
“Without writing I have no doubt I would turn into a basketcase.” Roy Meachum August 8, 2008 “Greasepaint Missing.”
Editors:
Paul Moore, Deputy Managing Editor
Ann LoLordo, Opinion Editor
Larry Williams, Deputy Opinion Editor
Patricia Fanning, Education Editor
John McIntyre, Copy Desk Chief
Ray Frager, sports editor
George VanDaniker, sports editor
Eileen Canzian, metro editor
Steve Auerweck, Systems Editor
Jay Apperson, Regional Editor
Chuck Weiss, Photo Assigning Editor
Andrew Ratner, features editor and blogging columnist
Bernie Kohn, the investigative team's editor
Bureau Chiefs
Joe DeCarlo
Dan Clemens
Bill Caulfield
Columnists and critics:
Rashod Ollison, music critic
Rick Maese, sports columnist
Bill Ordine, sports columnist
David Steele, sports columnist
Photographers:
Liz Malby
Glenn Fawcett
Chiaki Kawajiri
Monica Lopossay
Doug Kapustin
Glenn Fawcett
Designers:
Bill Wachsberger
Tracey Dieter
Carrie Lyle
Shirdell MacDonald
Copy desk:
Todd Windsor, designer/copy editor
Editorial Assistants:
Ellie Baublitz, editorial assistant
Makeda Crane, editorial assistant for opinion section
Fay Lande
Library staff:
Phyllis Kisner
This list is by no means complete.
If you wish your name added, e-mail me at kevindayhoff AT gmail DOT com with the word - Sun Massacre – in the subject line.
Now let’s find jobs for everyone one this list.
20090429 The Real Muck Baltimore Sun Massacre
Kevin Dayhoff Soundtrack: www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Kevin Dayhoff Art: www.kevindayhoff.com
Kevin Dayhoff Westminster: www.westgov.net
Journalist @baltimoresun writer artist runner #amwriting Chaplain PIO #partylikeajournalist
Journalist @baltimoresun writer artist runner #amwriting Md Troopers Assoc #20 & Westminster Md Fire Dept Chaplain PIO #partylikeajournalist
Showing posts with label Bus Econ 2009 Econ Stimulus. Show all posts
Showing posts with label Bus Econ 2009 Econ Stimulus. Show all posts
Friday, May 01, 2009
Tuesday, April 28, 2009
The economy is so bad...
The economy is so bad...
April 27, 2009
Hat Tip: Grammy
I received this in an e-mail and it made me laugh – especially the last one…
CEO's are now playing miniature golf.
Jewish women are marrying for love.
Even people who have nothing to do with the Obama administration aren't paying their taxes.
Hotwheels and Matchbox stocks are trading higher than GM.
Obama met with small businesses to discuss the Stimulus Package: GE, Pfizer and Citigroup.
McDonalds is selling the 1/4 ouncer
Parents in Beverly Hills fired their nannies and learned their children's names
A truckload of Americans got caught sneaking into Mexico
The most highly-paid job is now jury duty
Dick Cheney took his stockbroker hunting
People in Africa are donating money to Americans
Mothers in Ethiopia are telling their kids, "finish your plate, do you know how many kids are starving in the US ?"
Motel Six won't leave the light on
The Mafia is laying off judges
And finally...
Congress says they are looking into this Bernard Madoff scandal.
Hey, neat...the guy who made $50 billion disappear is being investigated by the people who made $750 billion disappear.
20090427 The economy is so bad...
Kevin Dayhoff Soundtrack: www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Kevin Dayhoff Art: www.kevindayhoff.com
Kevin Dayhoff Westminster: www.westgov.net
April 27, 2009
Hat Tip: Grammy
I received this in an e-mail and it made me laugh – especially the last one…
CEO's are now playing miniature golf.
Jewish women are marrying for love.
Even people who have nothing to do with the Obama administration aren't paying their taxes.
Hotwheels and Matchbox stocks are trading higher than GM.
Obama met with small businesses to discuss the Stimulus Package: GE, Pfizer and Citigroup.
McDonalds is selling the 1/4 ouncer
Parents in Beverly Hills fired their nannies and learned their children's names
A truckload of Americans got caught sneaking into Mexico
The most highly-paid job is now jury duty
Dick Cheney took his stockbroker hunting
People in Africa are donating money to Americans
Mothers in Ethiopia are telling their kids, "finish your plate, do you know how many kids are starving in the US ?"
Motel Six won't leave the light on
The Mafia is laying off judges
And finally...
Congress says they are looking into this Bernard Madoff scandal.
Hey, neat...the guy who made $50 billion disappear is being investigated by the people who made $750 billion disappear.
20090427 The economy is so bad...
Kevin Dayhoff Soundtrack: www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Kevin Dayhoff Art: www.kevindayhoff.com
Kevin Dayhoff Westminster: www.westgov.net
Saturday, April 18, 2009
Tapscott Congress ignored regulators' repeated warnings about problems at Fannie, Freddie
Examiner Editorial Section Sunday
Congress ignored regulators' repeated warnings about problems at Fannie, Freddie
April 18, 2009
Examiner Editorial Section Sunday
Examiner Editorial
Congress ignored repeated warnings it received from federal regulators about problems at Fannie and Freddie..
Read the full story
Michael Reagan, Examiner Columnist
Barack Obama's homeland security chief says conservatives who support the 10th Amendment are "rightwing extremists."
Read the full story.
Mark Tapscott, Examiner Editorial Page Editor
Those Tea Party Protestors display some of the same spirit Edmund Burke saw in Americans in 1775.
Read the full story.
Fresh and insightful opinion from Tapscott's Copy Desk, by the Washington Examiner's Editorial Page Editor Mark Tapscott. Got a tip or an oped to place? Send an e-mail to mark.tapscott@gmail.com.
Sign up for the Washington Examiner Opinion Feed
Sign up for the Tapscotts Copy Desk RSS Feed
Sign up for Tapscotts Copy Desk Email Alerts
20090418 SDOSM Examiner Editorial Section Sunday
Congress ignored regulators' repeated warnings about problems at Fannie, Freddie
April 18, 2009
Examiner Editorial Section Sunday
Examiner Editorial
Congress ignored repeated warnings it received from federal regulators about problems at Fannie and Freddie..
Read the full story
Michael Reagan, Examiner Columnist
Barack Obama's homeland security chief says conservatives who support the 10th Amendment are "rightwing extremists."
Read the full story.
Mark Tapscott, Examiner Editorial Page Editor
Those Tea Party Protestors display some of the same spirit Edmund Burke saw in Americans in 1775.
Read the full story.
Fresh and insightful opinion from Tapscott's Copy Desk, by the Washington Examiner's Editorial Page Editor Mark Tapscott. Got a tip or an oped to place? Send an e-mail to mark.tapscott@gmail.com.
Sign up for the Washington Examiner Opinion Feed
Sign up for the Tapscotts Copy Desk RSS Feed
Sign up for Tapscotts Copy Desk Email Alerts
20090418 SDOSM Examiner Editorial Section Sunday
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Wednesday, April 15, 2009
This week in The Tentacle
This week in The Tentacle
Wednesday, April 15, 2009
The First Summer
Kevin E. Dayhoff
As the first summer approaches following the departure from the White House of President George W. Bush, I am reminded of the story that in the first summer after President Harry Truman left office, he took a road trip with his family in which he visited Frederick.
A Malay Wedding – Part One
Tom McLaughlin
Seremban, Malaysia – Three months before the wedding-I had returned to Malaysia after a 35-year absence, a former Peace Corps Volunteer. A couple of phone calls put me in touch with my kampung folks and a joyful reunion ensued.
Bob Dylan: An Appreciation
Michael Kurtianyk
I’m not sure when I first heard Bob Dylan. My guess would be at home on the radio hearing “Blowin in the Wind,” or “Like a Rolling Stone.” Growing up, my musical tastes veered toward what today would be called “Classic Rock” or “AOR (“Album-Oriented Rock”).
Tuesday, April 14, 2009
Naming a Puppy
Roy Meachum
One survey shows 21 percent of respondents object to the name (Bo) the Obama girls have chosen for their new Portuguese Water Dog puppy. Of course, it's plain dumb for any survey to ask. But, good grief! – one in five object to the name!
Advice from The Voice of Experience – Part 2
Nick Diaz
In my last installment on http://www.thetentacle.com/, I started giving readers, potential motorcyclists all, some advice on buying good, used, cheap motorcycles. I stressed the importance of doing one’s “homework,” which means thinking things over as one finds out about the various types, models, and brands of motorcycles available.
Monday, April 13, 2009
General Assembly Journal 2009 – Volume 11
Richard B. Weldon Jr.
A race worth saving? No, this is not some deep philosophical question about the future of mankind. The race is the Preakness, and the question relates more to the last minute effort to avoid a potential bankruptcy sale.
About the Net
Steven R. Berryman
What the Defense Advanced Research Projects Agency (DARPA), once contrived to connect university research scientists to each other in the course of their daily work, has now become the world’s greatest tool, toy, and liability – our Internet.
Friday, April 10, 2009
Sons of Liberty – Then and Now
Joe Charlebois
A little over 235 years ago, the Sons of Liberty organized a protest – led by Samuel Adams of the New England resistance. He called a meeting near Boston Harbor to protest Gov. Thomas Hutchison’s refusal to allow several ships laden with East India Company tea to return to England without first unloading its cargo and paying the subsequent import duty.
Thursday, April 9, 2009
Huh, Hell! Pay Attention!
Chris Cavey
Government grows in size and power at an inverse proportion to the apathy and non-participation of citizens. The Maryland General Assembly is proof positive of this theory because they are left to run amok, conjuring and contemplating changes in law that effects your life.
Enough with the Threats
Joan McIntyre
We’re mad as hell and we’re not going to take it any more. Don’t believe me; take a look at the Letters to the Editors, forums, radio, and other columnists for yourself.
Wednesday, April 8, 2009
Thanks, but no thanks
Kevin E. Dayhoff
An opinion piece appeared in The Wall Street Journal last Sunday, relatively unnoticed except by economics geeks, citing the growing trend among banks that accepted Troubled Asset Relief Program –TARP – money who are begging the government to take the money back.
Tom of the Apes
Tom McLaughlin
Kuching, Indonesia – Twenty-five orangutans inhabit the Semenggoh Nature Reserve, about 45 minutes from my condo here. I only got to know three of them.
Tuesday, April 7, 2009
The Saga Continues…
Farrell Keough
A sad situation is unfolding in our local Republican Party. I very much cherish and respect our party, and it is due to that regard that I feel it is important to let you know the situation. You can make up your mind as to how you believe this should play out.
Hope Springs Eternal
Michael Kurtianyk
Isn’t it crazy how each spring, when the weather turns warmer and the sun comes out, our spirits rise along with the blossoms? We survived another winter – its cold spells, its dreariness, the ever-present winds. We built snowmen, slid down hills, stayed home from school, took liberal leave from work, and cozied up next to our fires.
Monday, April 6, 2009
General Assembly Journal 2009 – Volume 10
Richard B. Weldon Jr.
One week left, and the plate’s still pretty full. Major issues remain to be settled, yet the 426th Session of the Maryland General Assembly adjourns Sine Die a week from today.
Our ‘Apologist-in-Chief”
Steven R. Berryman
News of the demise of America has been greatly exaggerated. Alas, one would never know it, though, as President Barack Obama disgorged his political capital recently on the tail end of the G20 economic summit.
20090415 This week in The Tentacle
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Wednesday, April 15, 2009
The First Summer
Kevin E. Dayhoff
As the first summer approaches following the departure from the White House of President George W. Bush, I am reminded of the story that in the first summer after President Harry Truman left office, he took a road trip with his family in which he visited Frederick.
A Malay Wedding – Part One
Tom McLaughlin
Seremban, Malaysia – Three months before the wedding-I had returned to Malaysia after a 35-year absence, a former Peace Corps Volunteer. A couple of phone calls put me in touch with my kampung folks and a joyful reunion ensued.
Bob Dylan: An Appreciation
Michael Kurtianyk
I’m not sure when I first heard Bob Dylan. My guess would be at home on the radio hearing “Blowin in the Wind,” or “Like a Rolling Stone.” Growing up, my musical tastes veered toward what today would be called “Classic Rock” or “AOR (“Album-Oriented Rock”).
Tuesday, April 14, 2009
Naming a Puppy
Roy Meachum
One survey shows 21 percent of respondents object to the name (Bo) the Obama girls have chosen for their new Portuguese Water Dog puppy. Of course, it's plain dumb for any survey to ask. But, good grief! – one in five object to the name!
Advice from The Voice of Experience – Part 2
Nick Diaz
In my last installment on http://www.thetentacle.com/, I started giving readers, potential motorcyclists all, some advice on buying good, used, cheap motorcycles. I stressed the importance of doing one’s “homework,” which means thinking things over as one finds out about the various types, models, and brands of motorcycles available.
Monday, April 13, 2009
General Assembly Journal 2009 – Volume 11
Richard B. Weldon Jr.
A race worth saving? No, this is not some deep philosophical question about the future of mankind. The race is the Preakness, and the question relates more to the last minute effort to avoid a potential bankruptcy sale.
About the Net
Steven R. Berryman
What the Defense Advanced Research Projects Agency (DARPA), once contrived to connect university research scientists to each other in the course of their daily work, has now become the world’s greatest tool, toy, and liability – our Internet.
Friday, April 10, 2009
Sons of Liberty – Then and Now
Joe Charlebois
A little over 235 years ago, the Sons of Liberty organized a protest – led by Samuel Adams of the New England resistance. He called a meeting near Boston Harbor to protest Gov. Thomas Hutchison’s refusal to allow several ships laden with East India Company tea to return to England without first unloading its cargo and paying the subsequent import duty.
Thursday, April 9, 2009
Huh, Hell! Pay Attention!
Chris Cavey
Government grows in size and power at an inverse proportion to the apathy and non-participation of citizens. The Maryland General Assembly is proof positive of this theory because they are left to run amok, conjuring and contemplating changes in law that effects your life.
Enough with the Threats
Joan McIntyre
We’re mad as hell and we’re not going to take it any more. Don’t believe me; take a look at the Letters to the Editors, forums, radio, and other columnists for yourself.
Wednesday, April 8, 2009
Thanks, but no thanks
Kevin E. Dayhoff
An opinion piece appeared in The Wall Street Journal last Sunday, relatively unnoticed except by economics geeks, citing the growing trend among banks that accepted Troubled Asset Relief Program –TARP – money who are begging the government to take the money back.
Tom of the Apes
Tom McLaughlin
Kuching, Indonesia – Twenty-five orangutans inhabit the Semenggoh Nature Reserve, about 45 minutes from my condo here. I only got to know three of them.
Tuesday, April 7, 2009
The Saga Continues…
Farrell Keough
A sad situation is unfolding in our local Republican Party. I very much cherish and respect our party, and it is due to that regard that I feel it is important to let you know the situation. You can make up your mind as to how you believe this should play out.
Hope Springs Eternal
Michael Kurtianyk
Isn’t it crazy how each spring, when the weather turns warmer and the sun comes out, our spirits rise along with the blossoms? We survived another winter – its cold spells, its dreariness, the ever-present winds. We built snowmen, slid down hills, stayed home from school, took liberal leave from work, and cozied up next to our fires.
Monday, April 6, 2009
General Assembly Journal 2009 – Volume 10
Richard B. Weldon Jr.
One week left, and the plate’s still pretty full. Major issues remain to be settled, yet the 426th Session of the Maryland General Assembly adjourns Sine Die a week from today.
Our ‘Apologist-in-Chief”
Steven R. Berryman
News of the demise of America has been greatly exaggerated. Alas, one would never know it, though, as President Barack Obama disgorged his political capital recently on the tail end of the G20 economic summit.
20090415 This week in The Tentacle
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Tuesday, April 14, 2009
Westminster Tea Party Flyer for April 15 2009
Westminster Tea Party Flyer for April 15 2009
I am re-posting this flyer for the Westminster Tea Party scheduled at Legend’s Café in Westminster
Wednesday, April 15, 2009
Beginning at 6:30
Because my previous post included an incorrect date. (I have simply corrected that post to reflect the correct date: Wednesday, April 15, 2009)
_____
Hear Ye! Hear Ye!
Calling all Taxpayers!
Tired of government spending out of control?
Come voice your dissatisfaction &
Defend the Constitution!
Tea Party at Legend’s Café in Westminster
Wednesday, April 15, 2009
Beginning at 6:30
I am re-posting this flyer for the Westminster Tea Party scheduled at Legend’s Café in Westminster
Wednesday, April 15, 2009
Beginning at 6:30
Because my previous post included an incorrect date. (I have simply corrected that post to reflect the correct date: Wednesday, April 15, 2009)
_____
Hear Ye! Hear Ye!
Calling all Taxpayers!
Tired of government spending out of control?
Come voice your dissatisfaction &
Defend the Constitution!
Tea Party at Legend’s Café in Westminster
Wednesday, April 15, 2009
Beginning at 6:30
Bring tea bags and a few stamped envelopes;
address labels for all levels of our government will be provided.
Bring an appropriate sign to wave at traffic on route 140.
Sponsored by the Central Carroll Republican Club.
ALL are welcome and encouraged to attend.
Party affiliation is of no issue, we’re all taxpayers!
Questions? Call Michelle Jefferson at 410.259.2102
Please arrive sooner if you’d like to order dinner off the menu
20090415 SDOSM Westminster Tea Party Flyer for April 15 2009
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Recent The Tentacle columns by Kevin Dayhoff
Recent The Tentacle columns by Kevin Dayhoff
April 8, 2009
Thanks, but no thanks
Kevin E. Dayhoff
An opinion piece appeared in The Wall Street Journal last Sunday, relatively unnoticed except by economics geeks, citing the growing trend among banks that accepted Troubled Asset Relief Program –TARP – money who are begging the government to take the money back.
April 1, 2009
And Atlas Wept
Kevin E. Dayhoff
In a move that has given many pause, last Sunday the administration of President Barack Obama ventured boldly into the latest worrisome intrusion into the nation’s private sector by firing Rick Wagoner, General Motors’ chief executive officer.
March 25, 2009
Spellbound by Salvador Dali
Kevin E. Dayhoff
Last month I enjoyed a bit of respite from Maryland’s winter by visiting Florida. Finding myself within reasonable driving distance of St. Petersburg, I jumped at the chance to visit the Salvador Dali Museum.
March 18, 2009
Think Globally, Bank Locally
Kevin E. Dayhoff
If you are banking with any of the ginormous intergalactic financial institutions that are at the center of the current financial crisis, then you are part of the problem.
March 11, 2009
The Dangerous Diplomacy of Pandering
Kevin E. Dayhoff
I recently had the delightful opportunity to go to Washington and have lunch with a member of the Estonian Parliament, Tõnis Kõiv.
March 4, 2009
The Great Man Theory of History
Kevin E. Dayhoff
Even before his election to the office of the president last November, many in the liberal chattering class were already using hype and hyperbole that then-Senator Barack Obama was destined to be one of our country’s greatest presidents.
February 25, 2009
Pulling The Plug
Kevin E. Dayhoff
One of the key talking points of the new Obama Administration is its commitment to lead our nation by maximizing technology. Yet within a few scant weeks, the new kids in the Oval Office have endured their fair share of glitches, error boxes and system crashes.
February 18, 2009
Repackaged Isn’t Change
Kevin E. Dayhoff
In the end, the economic stimulus legislation signed yesterday by President Barack Obama, only garnered a total of three Republican votes from all of Congress, and, while traveling the yellow brick road on the way to Oz, the legislation lost the vast majority of public support.
February 11, 2009
Political Heresy and Unvarnished Truth
Kevin E. Dayhoff
Yesterday, in 1899, the future 31st president of the United States, Herbert Clark Hoover, married Lou Henry in Monterey, CA. Happy anniversary, Mr. President.
February 4, 2009
When Stimulus Ain’t
Kevin E. Dayhoff
Last Wednesday, the House of Representatives passed its $819 billion version of the economic stimulus package by a vote of 244 to 188. Not a single Republican voted for the measure – for good reason.
January 28, 2009
The 2009 Intergenerational Theft Act
Kevin E. Dayhoff
As you read this column Congress is attempting to put the finishing touches on an $825 billion economic stimulus package – otherwise known as the 2009 Intergenerational Theft Act.
January 21, 2009
A Tale of Two Inaugurations
Kevin E. Dayhoff
By the time you read this column our nation will have witnessed the inauguration of our nation's 44th president. Today is the first day for President Barack Obama and it marks the merciful end of the 78-day transition period.
January 14, 2009
Barack Rhymes With Tupac
Kevin E. Dayhoff
Noticeable, yet relatively underreported in the scandal-filled rhetoric that passes for meaningful political commentary these days, is the passing of an historic era that will occur when President George W. Bush takes off in the presidential helicopter after President-elect Barack Obama takes the oath of office next week.
January 7, 2009
Pallywood – When Pictures Lie
Kevin E. Dayhoff
After Hamas, the terrorist organization that has controlled the Gaza Strip since June 2007, unilaterally broke a cease-fire on December 19 and resumed shelling southern Israel, Israeli warplanes sprang to Israel’s defense December 27 by attacking Hamas throughout Gaza. Hamas responded immediately with “Pallywood.”
20090408 recent The Tentacle columns by Kevin Dayhoff
http://www.thetentacle.com/author.cfm?MyAuthor=41
http://www.thetentacle.com/
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
April 8, 2009
Thanks, but no thanks
Kevin E. Dayhoff
An opinion piece appeared in The Wall Street Journal last Sunday, relatively unnoticed except by economics geeks, citing the growing trend among banks that accepted Troubled Asset Relief Program –TARP – money who are begging the government to take the money back.
April 1, 2009
And Atlas Wept
Kevin E. Dayhoff
In a move that has given many pause, last Sunday the administration of President Barack Obama ventured boldly into the latest worrisome intrusion into the nation’s private sector by firing Rick Wagoner, General Motors’ chief executive officer.
March 25, 2009
Spellbound by Salvador Dali
Kevin E. Dayhoff
Last month I enjoyed a bit of respite from Maryland’s winter by visiting Florida. Finding myself within reasonable driving distance of St. Petersburg, I jumped at the chance to visit the Salvador Dali Museum.
March 18, 2009
Think Globally, Bank Locally
Kevin E. Dayhoff
If you are banking with any of the ginormous intergalactic financial institutions that are at the center of the current financial crisis, then you are part of the problem.
March 11, 2009
The Dangerous Diplomacy of Pandering
Kevin E. Dayhoff
I recently had the delightful opportunity to go to Washington and have lunch with a member of the Estonian Parliament, Tõnis Kõiv.
March 4, 2009
The Great Man Theory of History
Kevin E. Dayhoff
Even before his election to the office of the president last November, many in the liberal chattering class were already using hype and hyperbole that then-Senator Barack Obama was destined to be one of our country’s greatest presidents.
February 25, 2009
Pulling The Plug
Kevin E. Dayhoff
One of the key talking points of the new Obama Administration is its commitment to lead our nation by maximizing technology. Yet within a few scant weeks, the new kids in the Oval Office have endured their fair share of glitches, error boxes and system crashes.
February 18, 2009
Repackaged Isn’t Change
Kevin E. Dayhoff
In the end, the economic stimulus legislation signed yesterday by President Barack Obama, only garnered a total of three Republican votes from all of Congress, and, while traveling the yellow brick road on the way to Oz, the legislation lost the vast majority of public support.
February 11, 2009
Political Heresy and Unvarnished Truth
Kevin E. Dayhoff
Yesterday, in 1899, the future 31st president of the United States, Herbert Clark Hoover, married Lou Henry in Monterey, CA. Happy anniversary, Mr. President.
February 4, 2009
When Stimulus Ain’t
Kevin E. Dayhoff
Last Wednesday, the House of Representatives passed its $819 billion version of the economic stimulus package by a vote of 244 to 188. Not a single Republican voted for the measure – for good reason.
January 28, 2009
The 2009 Intergenerational Theft Act
Kevin E. Dayhoff
As you read this column Congress is attempting to put the finishing touches on an $825 billion economic stimulus package – otherwise known as the 2009 Intergenerational Theft Act.
January 21, 2009
A Tale of Two Inaugurations
Kevin E. Dayhoff
By the time you read this column our nation will have witnessed the inauguration of our nation's 44th president. Today is the first day for President Barack Obama and it marks the merciful end of the 78-day transition period.
January 14, 2009
Barack Rhymes With Tupac
Kevin E. Dayhoff
Noticeable, yet relatively underreported in the scandal-filled rhetoric that passes for meaningful political commentary these days, is the passing of an historic era that will occur when President George W. Bush takes off in the presidential helicopter after President-elect Barack Obama takes the oath of office next week.
January 7, 2009
Pallywood – When Pictures Lie
Kevin E. Dayhoff
After Hamas, the terrorist organization that has controlled the Gaza Strip since June 2007, unilaterally broke a cease-fire on December 19 and resumed shelling southern Israel, Israeli warplanes sprang to Israel’s defense December 27 by attacking Hamas throughout Gaza. Hamas responded immediately with “Pallywood.”
20090408 recent The Tentacle columns by Kevin Dayhoff
http://www.thetentacle.com/author.cfm?MyAuthor=41
http://www.thetentacle.com/
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Sunday, April 05, 2009
Westminster Tea Party Flyer for April 15 2009
Westminster Tea Party Flyer for April 15 2009
Hear Ye! Hear Ye!
Calling all Taxpayers!
Tired of government spending out of control?
Come voice your dissatisfaction &
Defend the Constitution!
Tea Party at Legend’s Café in Westminster
Wednesday, April 15, 2009
Beginning at 6:30
Bring tea bags and a few stamped envelopes;
address labels for all levels of our government will be provided.
Bring an appropriate sign to wave at traffic on route 140.
Sponsored by the Central Carroll Republican Club.
ALL are welcome and encouraged to attend.
Party affiliation is of no issue, we’re all taxpayers!
Questions? Call Michelle Jefferson at 410.259.2102
Please arrive sooner if you’d like to order dinner off the menu
20090415 SDOSM Westminster Tea Party Flyer for April 15 2009
Hear Ye! Hear Ye!
Calling all Taxpayers!
Tired of government spending out of control?
Come voice your dissatisfaction &
Defend the Constitution!
Tea Party at Legend’s Café in Westminster
Wednesday, April 15, 2009
Beginning at 6:30
Bring tea bags and a few stamped envelopes;
address labels for all levels of our government will be provided.
Bring an appropriate sign to wave at traffic on route 140.
Sponsored by the Central Carroll Republican Club.
ALL are welcome and encouraged to attend.
Party affiliation is of no issue, we’re all taxpayers!
Questions? Call Michelle Jefferson at 410.259.2102
Please arrive sooner if you’d like to order dinner off the menu
20090415 SDOSM Westminster Tea Party Flyer for April 15 2009
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Thursday, April 02, 2009
No Nominee Yet for Secretary of Rustproofing By Dana Milbank
No Nominee Yet for Secretary of Rustproofing By Dana Milbank Tuesday, March 31, 2009; A02
The White House was aiming high with yesterday's announcement that President Obama was pretty much becoming CEO of the American automotive industry.
Minutes before the president's arrival in the Grand Foyer of the White House, a technician in the back of the room tested the teleprompter for Obama's speech. "Fourscore and seven years ago," announced one of the screens in big letters, "our fathers brought on this continent a new nation . . ." In the actual event, Obama opted for a more modest text -- less Lincoln at Gettysburg than Krystal Koons cutting an ad for the family car dealerships.
"If you buy a car from Chrysler or General Motors, you will be able to get your car serviced and repaired, just like always," the president promised yesterday morning from the executive mansion.
And that's not all, folks! "Your warranty will be safe," the salesman in chief went on. "In fact, it will be safer than it's ever been, because starting today, the United States government will stand behind your warranty."
Incentives? Obama's got 'em. "If you buy a car anytime this year, you may be able to deduct the cost of any sales and excise taxes," the president offered. And nobody beats Obama on trade-ins; he wants a "generous credit to consumers who turn in old, less-fuel-efficient cars."
Perhaps the president can interest you in a Chevy Malibu? "In 2008, the North American Car of the Year was a GM," he pitched. And the Buick Lucerne is a real cream puff. "This year, Buick tied for first place as the most reliable car in the world," he declared from behind the presidential seal.
If you buy now, he may even throw in the floor mats.
Playing car salesman is an unusual role for a president of the United States -- …
Read more: No Nominee Yet for Secretary of Rustproofing By Dana Milbank Tuesday, March 31, 2009; A02
http://www.washingtonpost.com/wp-dyn/content/article/2009/03/30/AR2009033002922.html?wpisrc=newsletter
20090331 No Nominee Yet for Secretary of Rustproofing By Dana Milbank
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Monday, March 30, 2009
Rahm Emanuel's profitable stint at mortgage giant
It seems that Tribune reporters Bob Secter and Andrew Zajac, have written a lengthy and comprehensive article that certainly does not portray President Barack Obama’s chief of staff, Rahm Emanuel in a very positive light in reference to part of the heart of our current economic malaise…
Not only did he enrich himself from the bad loaning practices of Freddie Mas but, “What is less known, however, is how little he apparently did for his money and how he benefited from the kind of cozy ties between Washington and Wall Street that have fueled the nation's current economic mess.
Even for those of us who have become jaded and disillusioned with the byzantine machinations of Washington, will find much of the following information unbelievable… / Kevin Dayhoff
chicagotribune.com: Rahm Emanuel's profitable stint at mortgage giant
Short Freddie Mac stay made him at least $320,000
By Bob Secter and Andrew Zajac, Tribune reporters, 3:18 PM CDT, March 26, 2009 (1682 words)
Before its portfolio of bad loans helped trigger the current housing crisis, mortgage giant Freddie Mac was the focus of a major accounting scandal that led to a management shake-up, huge fines and scalding condemnation of passive directors by a top federal regulator.
One of those allegedly asleep-at-the-switch board members was Chicago's Rahm Emanuel—now chief of staff to President Barack Obama—who made at least $320,000 for a 14-month stint at Freddie Mac that required little effort.
As gatekeeper to Obama, Emanuel now plays a critical role in addressing the nation's mortgage woes and fulfilling the administration's pledge to impose responsibility on the financial world.
Emanuel's Freddie Mac involvement has been a prominent point on his political résumé, and his healthy payday from the firm has been no secret either. What is less known, however, is how little he apparently did for his money and how he benefited from the kind of cozy ties between Washington and Wall Street that have fueled the nation's current economic mess.
Though just 49, Emanuel is a veteran Democratic strategist and fundraiser who served three terms in the U.S. House after helping elect Mayor Richard Daley and former President Bill Clinton. The Freddie Mac money was a small piece of the $16 million he made in a three-year interlude as an investment banker a decade ago.
In business as in politics, Emanuel has cultivated an aggressive, take-charge reputation that made him rich and propelled his rise to the front of the national stage. But buried deep in corporate and government documents on the Freddie Mac scandal is a little-known and very different story involving Emanuel.
He was named to the Freddie Mac board in February 2000 by Clinton, whom Emanuel had served as White House political director and vocal defender during the Whitewater and Monica Lewinsky scandals.
The board met no more than six times a year. Unlike most fellow directors, Emanuel was not assigned to any of the board's working committees, according to company proxy statements. Immediately upon joining the board, Emanuel and other new directors qualified for $380,000 in stock and options plus a $20,000 annual fee, records indicate.
[…]
The board was throttled for its acquiescence to the accounting manipulation in a 2003 report by Armando Falcon Jr., head of a federal oversight agency for Freddie Mac. The scandal forced Freddie Mac to restate $5 billion in earnings and pay $585 million in fines and legal settlements. It also foreshadowed even harder times at the firm.
[…]
Former President George W. Bush voluntarily stopped making such appointments following Falcon's assessment of their uselessness.
[…]
The Obama administration rejected a Tribune request under the Freedom of Information Act to review Freddie Mac board minutes and correspondence during Emanuel's time as a director. The documents, obtained by Falcon for his investigation, were "commercial information" exempt from disclosure, according to a lawyer for the Federal Housing Finance Agency.
[…]
By the time Emanuel joined Freddie Mac, the company had begun to loosen lending standards and buy riskier sub-prime loans. It was a practice that later blew up and contributed to the current foreclosure crisis.
[...]
Not only did he enrich himself from the bad loaning practices of Freddie Mas but, “What is less known, however, is how little he apparently did for his money and how he benefited from the kind of cozy ties between Washington and Wall Street that have fueled the nation's current economic mess.
Even for those of us who have become jaded and disillusioned with the byzantine machinations of Washington, will find much of the following information unbelievable… / Kevin Dayhoff
chicagotribune.com: Rahm Emanuel's profitable stint at mortgage giant
Short Freddie Mac stay made him at least $320,000
By Bob Secter and Andrew Zajac, Tribune reporters, 3:18 PM CDT, March 26, 2009 (1682 words)
Before its portfolio of bad loans helped trigger the current housing crisis, mortgage giant Freddie Mac was the focus of a major accounting scandal that led to a management shake-up, huge fines and scalding condemnation of passive directors by a top federal regulator.
One of those allegedly asleep-at-the-switch board members was Chicago's Rahm Emanuel—now chief of staff to President Barack Obama—who made at least $320,000 for a 14-month stint at Freddie Mac that required little effort.
As gatekeeper to Obama, Emanuel now plays a critical role in addressing the nation's mortgage woes and fulfilling the administration's pledge to impose responsibility on the financial world.
Emanuel's Freddie Mac involvement has been a prominent point on his political résumé, and his healthy payday from the firm has been no secret either. What is less known, however, is how little he apparently did for his money and how he benefited from the kind of cozy ties between Washington and Wall Street that have fueled the nation's current economic mess.
Though just 49, Emanuel is a veteran Democratic strategist and fundraiser who served three terms in the U.S. House after helping elect Mayor Richard Daley and former President Bill Clinton. The Freddie Mac money was a small piece of the $16 million he made in a three-year interlude as an investment banker a decade ago.
In business as in politics, Emanuel has cultivated an aggressive, take-charge reputation that made him rich and propelled his rise to the front of the national stage. But buried deep in corporate and government documents on the Freddie Mac scandal is a little-known and very different story involving Emanuel.
He was named to the Freddie Mac board in February 2000 by Clinton, whom Emanuel had served as White House political director and vocal defender during the Whitewater and Monica Lewinsky scandals.
The board met no more than six times a year. Unlike most fellow directors, Emanuel was not assigned to any of the board's working committees, according to company proxy statements. Immediately upon joining the board, Emanuel and other new directors qualified for $380,000 in stock and options plus a $20,000 annual fee, records indicate.
[…]
The board was throttled for its acquiescence to the accounting manipulation in a 2003 report by Armando Falcon Jr., head of a federal oversight agency for Freddie Mac. The scandal forced Freddie Mac to restate $5 billion in earnings and pay $585 million in fines and legal settlements. It also foreshadowed even harder times at the firm.
[…]
Former President George W. Bush voluntarily stopped making such appointments following Falcon's assessment of their uselessness.
[…]
The Obama administration rejected a Tribune request under the Freedom of Information Act to review Freddie Mac board minutes and correspondence during Emanuel's time as a director. The documents, obtained by Falcon for his investigation, were "commercial information" exempt from disclosure, according to a lawyer for the Federal Housing Finance Agency.
[…]
By the time Emanuel joined Freddie Mac, the company had begun to loosen lending standards and buy riskier sub-prime loans. It was a practice that later blew up and contributed to the current foreclosure crisis.
[...]
Read the entire lengthy article here: Rahm Emanuel's profitable stint at mortgage giant. But don’t do it on a full stomach…
20090326 ChicagoTrib Rahm Emanuel profitable stint at mortgage giant
www.chicagotribune.com/news/politics/obama/chi-rahm-emanuel-profit-26-mar26,0,5682373.story
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Sunday, March 29, 2009
After Words: "House of Cards" author William Cohn interviewed by Deborah Solomon
"After Words" interview by Deborah Solomon
Sunday, March 29, 2009
I watched this program on Book TV on C-Span2 and William Cohn really made a lot of sense about the behind the scenes machinations that went into our current economic mess.
I will look forward to picking up a copy of his book…
9:00 PM 59 min After Words: William Cohan, author "House of Cards: A Tale of Hubris and Wretched Excess on Wall Street; interviewed by Deborah Solomon, Wall Street Journal
About the Program: William Cohan details the rise and fall of Bear Stearns and focuses on the choices executives made that ultimately led to the government-forced merger with J.P. Morgan.
About the Author: William Cohan was an investment banker for 17 years. He worked at Lazard Freres, Merrill Lynch and JPMorgan Chase, before leaving Wall Street to write his first book, "The Last Tycoons." Mr. Cohan has written columns for the New York Times and The Washington Post. He regularly writes for The Daily Beast, Financial Times and Fortune magazine.
20090329 After Words House of Cards interviewed by Deborah Solomon
http://www.booktv.org/program.aspx?ProgramId=10358&SectionName=After%20Words&PlayMedia=No
Sunday, March 29, 2009
I watched this program on Book TV on C-Span2 and William Cohn really made a lot of sense about the behind the scenes machinations that went into our current economic mess.
I will look forward to picking up a copy of his book…
9:00 PM 59 min After Words: William Cohan, author "House of Cards: A Tale of Hubris and Wretched Excess on Wall Street; interviewed by Deborah Solomon, Wall Street Journal
About the Program: William Cohan details the rise and fall of Bear Stearns and focuses on the choices executives made that ultimately led to the government-forced merger with J.P. Morgan.
About the Author: William Cohan was an investment banker for 17 years. He worked at Lazard Freres, Merrill Lynch and JPMorgan Chase, before leaving Wall Street to write his first book, "The Last Tycoons." Mr. Cohan has written columns for the New York Times and The Washington Post. He regularly writes for The Daily Beast, Financial Times and Fortune magazine.
20090329 After Words House of Cards interviewed by Deborah Solomon
http://www.booktv.org/program.aspx?ProgramId=10358&SectionName=After%20Words&PlayMedia=No
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Monday, March 23, 2009
CNN Four Fannie Mae execs to get big bonuses
I just re-read this article and I remain flabbergasted...
CNN Four Fannie Mae execs to get big bonuses
March 19, 2009
Story Highlights
By contrast, CEO gets no 2008 or 2009 compensation, bonus; CFO gets no bonus
Bonuses necessary to keep Fannie's most experienced execs, says FHFA director
Many Fannie Mae, Freddie Mac employees received pay cuts, no bonuses, he added
Baucus on news of bonuses: "Give me a break. What are these people thinking?"
NEW YORK (CNN) -- Troubled mortgage giant Fannie Mae planned to pay four top executives retention bonuses ranging from $470,000 to $611,000, according to a February SEC filing.
Executive vice presidents Kenneth Bacon, David Hisey, Michael Williams and Thomas Lund will be receiving bonuses of close to half a million dollars each. Bacon supervises community development for the company, Hisey is its deputy chief financial officer, Williams is its COO and Lund oversees the single-family mortgage business.
By contrast, Fannie Mae CFO David Johnson received no bonus on top of his salary of $625,000, while CEO Herb Allison received no compensation or bonuses in 2008 or 2009.
A spokesman for Fannie Mae deferred comment on the bonuses to the Federal Housing Finance Agency.
The bonuses were necessary to keep Fannie's most experienced executives working to reverse the effects of the mortgage crisis, FHFA Director James B. Lockhart told CNN.
Read the entire article here: Four Fannie Mae execs to get big bonuses
CNN's Emily Anderson, Ted Barrett and CNNMoney.com's David Goldman contributed to this report.
All About Fannie Mae • Freddie Mac Holdings • Max Baucus
Links referenced within this article
Fannie Mae http://topics.edition.cnn.com/topics/fannie_mae
Freddie Mac http://topics.edition.cnn.com/topics/freddie_mac_holdings
Sen. Max Baucus http://topics.edition.cnn.com/topics/max_baucus
Fannie Mae http://topics.edition.cnn.com/topics/Fannie_Mae
Freddie Mac Holdings http://topics.edition.cnn.com/topics/Freddie_Mac_Holdings
Max Baucus http://topics.edition.cnn.com/topics/Max_Baucus
Find this article at: http://edition.cnn.com/2009/POLITICS/03/19/fannie.bonuses
http://edition.cnn.com/2009/POLITICS/03/19/fannie.bonuses/
20090319 Four Fannie Mae execs to get big bonuses
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
CNN Four Fannie Mae execs to get big bonuses
March 19, 2009
Story Highlights
By contrast, CEO gets no 2008 or 2009 compensation, bonus; CFO gets no bonus
Bonuses necessary to keep Fannie's most experienced execs, says FHFA director
Many Fannie Mae, Freddie Mac employees received pay cuts, no bonuses, he added
Baucus on news of bonuses: "Give me a break. What are these people thinking?"
NEW YORK (CNN) -- Troubled mortgage giant Fannie Mae planned to pay four top executives retention bonuses ranging from $470,000 to $611,000, according to a February SEC filing.
Executive vice presidents Kenneth Bacon, David Hisey, Michael Williams and Thomas Lund will be receiving bonuses of close to half a million dollars each. Bacon supervises community development for the company, Hisey is its deputy chief financial officer, Williams is its COO and Lund oversees the single-family mortgage business.
By contrast, Fannie Mae CFO David Johnson received no bonus on top of his salary of $625,000, while CEO Herb Allison received no compensation or bonuses in 2008 or 2009.
A spokesman for Fannie Mae deferred comment on the bonuses to the Federal Housing Finance Agency.
The bonuses were necessary to keep Fannie's most experienced executives working to reverse the effects of the mortgage crisis, FHFA Director James B. Lockhart told CNN.
Read the entire article here: Four Fannie Mae execs to get big bonuses
CNN's Emily Anderson, Ted Barrett and CNNMoney.com's David Goldman contributed to this report.
All About Fannie Mae • Freddie Mac Holdings • Max Baucus
Links referenced within this article
Fannie Mae http://topics.edition.cnn.com/topics/fannie_mae
Freddie Mac http://topics.edition.cnn.com/topics/freddie_mac_holdings
Sen. Max Baucus http://topics.edition.cnn.com/topics/max_baucus
Fannie Mae http://topics.edition.cnn.com/topics/Fannie_Mae
Freddie Mac Holdings http://topics.edition.cnn.com/topics/Freddie_Mac_Holdings
Max Baucus http://topics.edition.cnn.com/topics/Max_Baucus
Find this article at: http://edition.cnn.com/2009/POLITICS/03/19/fannie.bonuses
http://edition.cnn.com/2009/POLITICS/03/19/fannie.bonuses/
20090319 Four Fannie Mae execs to get big bonuses
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Saturday, March 21, 2009
Washington Times Editorial: Never waste a good crisis
Never waste a good crisis March 16, 2009 Washington Times Editorial
(I just re-read this – and it is really worth sharing… Kevin Dayhoff)
"Never waste a good crisis" has become the semi-official motto of the Obama administration.
We first heard it from the Machiavellian Rahm Emmanuel last November, when he said "you never want a serious crisis to go to waste. … It's an opportunity to do things that you think you could not do before." The gaffe-prone Hillary Clinton echoed this sentiment in Europe earlier this month. Then President Obama, in his Saturday radio address, urged America to "discover great opportunity in the midst of great crisis."
Emergencies call for urgent responses that allow little time for substantive debate. That is why ambitious pols treat them like winning lottery tickets. In one sense, we can't blame them. Some lawmakers have been quietly feeding their pet ideas since the Watergate crisis or the recession of 1982. They missed out back then and won't see another chance in their lifetimes. So every aged idea got crated onto the stimulus bill. One thing we can say about this Congress: It has learned nothing and forgotten nothing.
Read the rest here: Never waste a good crisis
http://www.washingtontimes.com/news/2009/mar/16/obamanomics/
20090316 Washington Times Editorial: Never waste a good crisis
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
(I just re-read this – and it is really worth sharing… Kevin Dayhoff)
"Never waste a good crisis" has become the semi-official motto of the Obama administration.
We first heard it from the Machiavellian Rahm Emmanuel last November, when he said "you never want a serious crisis to go to waste. … It's an opportunity to do things that you think you could not do before." The gaffe-prone Hillary Clinton echoed this sentiment in Europe earlier this month. Then President Obama, in his Saturday radio address, urged America to "discover great opportunity in the midst of great crisis."
Emergencies call for urgent responses that allow little time for substantive debate. That is why ambitious pols treat them like winning lottery tickets. In one sense, we can't blame them. Some lawmakers have been quietly feeding their pet ideas since the Watergate crisis or the recession of 1982. They missed out back then and won't see another chance in their lifetimes. So every aged idea got crated onto the stimulus bill. One thing we can say about this Congress: It has learned nothing and forgotten nothing.
Read the rest here: Never waste a good crisis
http://www.washingtontimes.com/news/2009/mar/16/obamanomics/
20090316 Washington Times Editorial: Never waste a good crisis
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Thursday, March 19, 2009
This week in The Tentacle for March 19 2009
This week in The Tentacle for March 19 2009
Thursday, March 19, 2009
Jennifer Again?
Patricia A. Kelly
I can’t believe she’s back – yet again. She says she’s running because she loves Frederick. A lot of us love Frederick, and we love it a lot more when she is not mayor.
Imitating a Junta…
Tony Soltero
Back when I was a child, my parents once took a long, ambitious vacation to South America. When they got home they brought back countless little treasures from the countries they visited, an album's worth of beautiful photographs, and plenty of gripping stories to share. My brothers and I couldn't get enough of them.
Wednesday, March 18, 2009
Think Globally, Bank Locally
Kevin E. Dayhoff
If you are banking with any of the ginormous intergalactic financial institutions that are at the center of the current financial crisis, then you are part of the problem.
Budget Cuts Affecting Local Arts Scene
Michael Kurtianyk
If current legislation is passed by the General Assembly, funding to the Maryland State Arts Council would decrease from $16.6 million to $10.6 million. This is on top of the 14 percent cut last year, used to balance the budget.
A $40 Million Ruse
Tom McLaughlin
Batam Island, Indonesia – The islands were calling me and with rhythms of music from South Pacific flowing in my mind, I elected to visit a couple of them about an hour boat ride off the coast of Singapore.
Tuesday, March 17, 2009
Pushkin's Winter of Discontent
Roy Meachum
Mother Nature and government frequently disagree. Washington told us clocks must be turned back February's last weekend. A sure sign of Spring? The season doesn't begin until three weeks later.
Exhibiting America’s Traits
Nick Diaz
There was a time when one, in the world of machines, could hardly hear two dirtier words than “Planned Obsolescence.” The very idea that a complex mechanical object should have a deliberately abbreviated life expectancy was nothing less than a kind of mortal sin against proper engineering.
Monday, March 16, 2009
General Assembly Journal 2009 – Volume 8
Richard B. Weldon Jr.
Granting Personhood! Yes, I know what the editor is saying. What a terrible example of poor grammar in an opening. Unfortunately, I don’t make this stuff up, I just write about it!
Where’s the “Ownership,” Mr. President?
Steven R. Berryman
During the election cycle of 2008 it became the standard rhetoric for candidate Barack Obama and his wife to distance themselves from the elements of what it meant to “be American.”
Friday, March 13, 2009
"Pope Admits Mistake"
Roy Meachum
That semi-apology appeared in The New York Times. The rest of the headline narrowed the impact considerably; the admission came "In Letter to Bishops."
I Still Pledge My Allegiance
Joe Charlebois
Sarah Norris, a columnist for The Frederick News-Post, on February 28 submitted a column which gave us an insider’s view of early morning at a Frederick County high school. Ms. Norris describes the scene of fellow students ignoring the morning ritual of patriotic recitation that American students have recited for decades – the Pledge of Allegiance.
Thursday, March 12, 2009
Waking Up The Populace
Joan McIntyre
Are we about to see cracks in the glass ceiling in the world of our Frederick County Board of Education and Frederick County Public Schools? Will the Sacred Cow called the public schools system be held accountable?
REVIEW – Riverdance" Has It All!
Roy Meachum
While being amazed in Baltimore's Hippodrome Theatre Tuesday night, the thought occurred: In my 40-plus years reviewing I've never seen a smoother musical show. Put simply: "Riverdance" has it all!
True Measure of Success
Chris Cavey
Our society has many ways to gauge the success or failure of those involved in the political world. One unique measurement of judging those who have mounted the national platform of “being someone of note” is to be a host or to be lampooned on Saturday Night Live. Last Saturday Michael Steele made it.
Wednesday, March 11, 2009
The Dangerous Diplomacy of Pandering
Kevin E. Dayhoff
I recently had the delightful opportunity to go to Washington and have lunch with a member of the Estonian Parliament, Tõnis Kõiv.
The Weavers and the Money
Tom McLaughlin
Lombok, Indonesia – We had finished our visit with the stump tailed Macaques and the use of my teaching techniques on the troop. Our next stop, a small enterprise, located only through a side road, winding through a housing estate filled with homes (we would call them shacks) constructed of wood.
Bobby Fischer: Genius or Madman?
Michael Kurtianyk
It has often been said that there’s a fine line between genius and madness. Think of some people whom you consider to be geniuses? Does Albert Einstein come to mind? Thomas Jefferson? Benjamin Franklin?
Tuesday, March 10, 2009
GOP Spitting Contest
Roy Meachum
As a non-Republican, I find amusing the recent rhubarb within the GOP party over Michael Steele.
Misinformation and Playing Politics
Farrell Keough
Some interesting events have occurred over the last few weeks that are seemingly disparate, but in fact, have many commonalities. The main connection is the discussion of the Waste To Energy (WTE) plant.
20090319 This week in The Tentacle for March 19 2009
Thursday, March 19, 2009
Jennifer Again?
Patricia A. Kelly
I can’t believe she’s back – yet again. She says she’s running because she loves Frederick. A lot of us love Frederick, and we love it a lot more when she is not mayor.
Imitating a Junta…
Tony Soltero
Back when I was a child, my parents once took a long, ambitious vacation to South America. When they got home they brought back countless little treasures from the countries they visited, an album's worth of beautiful photographs, and plenty of gripping stories to share. My brothers and I couldn't get enough of them.
Wednesday, March 18, 2009
Think Globally, Bank Locally
Kevin E. Dayhoff
If you are banking with any of the ginormous intergalactic financial institutions that are at the center of the current financial crisis, then you are part of the problem.
Budget Cuts Affecting Local Arts Scene
Michael Kurtianyk
If current legislation is passed by the General Assembly, funding to the Maryland State Arts Council would decrease from $16.6 million to $10.6 million. This is on top of the 14 percent cut last year, used to balance the budget.
A $40 Million Ruse
Tom McLaughlin
Batam Island, Indonesia – The islands were calling me and with rhythms of music from South Pacific flowing in my mind, I elected to visit a couple of them about an hour boat ride off the coast of Singapore.
Tuesday, March 17, 2009
Pushkin's Winter of Discontent
Roy Meachum
Mother Nature and government frequently disagree. Washington told us clocks must be turned back February's last weekend. A sure sign of Spring? The season doesn't begin until three weeks later.
Exhibiting America’s Traits
Nick Diaz
There was a time when one, in the world of machines, could hardly hear two dirtier words than “Planned Obsolescence.” The very idea that a complex mechanical object should have a deliberately abbreviated life expectancy was nothing less than a kind of mortal sin against proper engineering.
Monday, March 16, 2009
General Assembly Journal 2009 – Volume 8
Richard B. Weldon Jr.
Granting Personhood! Yes, I know what the editor is saying. What a terrible example of poor grammar in an opening. Unfortunately, I don’t make this stuff up, I just write about it!
Where’s the “Ownership,” Mr. President?
Steven R. Berryman
During the election cycle of 2008 it became the standard rhetoric for candidate Barack Obama and his wife to distance themselves from the elements of what it meant to “be American.”
Friday, March 13, 2009
"Pope Admits Mistake"
Roy Meachum
That semi-apology appeared in The New York Times. The rest of the headline narrowed the impact considerably; the admission came "In Letter to Bishops."
I Still Pledge My Allegiance
Joe Charlebois
Sarah Norris, a columnist for The Frederick News-Post, on February 28 submitted a column which gave us an insider’s view of early morning at a Frederick County high school. Ms. Norris describes the scene of fellow students ignoring the morning ritual of patriotic recitation that American students have recited for decades – the Pledge of Allegiance.
Thursday, March 12, 2009
Waking Up The Populace
Joan McIntyre
Are we about to see cracks in the glass ceiling in the world of our Frederick County Board of Education and Frederick County Public Schools? Will the Sacred Cow called the public schools system be held accountable?
REVIEW – Riverdance" Has It All!
Roy Meachum
While being amazed in Baltimore's Hippodrome Theatre Tuesday night, the thought occurred: In my 40-plus years reviewing I've never seen a smoother musical show. Put simply: "Riverdance" has it all!
True Measure of Success
Chris Cavey
Our society has many ways to gauge the success or failure of those involved in the political world. One unique measurement of judging those who have mounted the national platform of “being someone of note” is to be a host or to be lampooned on Saturday Night Live. Last Saturday Michael Steele made it.
Wednesday, March 11, 2009
The Dangerous Diplomacy of Pandering
Kevin E. Dayhoff
I recently had the delightful opportunity to go to Washington and have lunch with a member of the Estonian Parliament, Tõnis Kõiv.
The Weavers and the Money
Tom McLaughlin
Lombok, Indonesia – We had finished our visit with the stump tailed Macaques and the use of my teaching techniques on the troop. Our next stop, a small enterprise, located only through a side road, winding through a housing estate filled with homes (we would call them shacks) constructed of wood.
Bobby Fischer: Genius or Madman?
Michael Kurtianyk
It has often been said that there’s a fine line between genius and madness. Think of some people whom you consider to be geniuses? Does Albert Einstein come to mind? Thomas Jefferson? Benjamin Franklin?
Tuesday, March 10, 2009
GOP Spitting Contest
Roy Meachum
As a non-Republican, I find amusing the recent rhubarb within the GOP party over Michael Steele.
Misinformation and Playing Politics
Farrell Keough
Some interesting events have occurred over the last few weeks that are seemingly disparate, but in fact, have many commonalities. The main connection is the discussion of the Waste To Energy (WTE) plant.
20090319 This week in The Tentacle for March 19 2009
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Monday, March 16, 2009
The Debt Star
The Debt Star
March 16, 2009
March 16, 2009
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Monday, March 09, 2009
New York Times – Sept. 30, 1999: Fannie Mae Eases Credit To Aid Mortgage Lending
The New York Times – September 30, 1999: Fannie Mae Eases Credit To Aid Mortgage Lending
Hat Tip: Analog
Fannie Mae Eases Credit To Aid Mortgage Lending
By STEVEN A. HOLMES
Published: September 30, 1999
In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
[…]
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.
''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''
[…]
In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.
''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''
Read the entire article here: Fannie Mae Eases Credit To Aid Mortgage Lending
19990930 NYT Fannie Mae Eases Credit To Aid Mortgage Lending
http://tinyurl.com/6p5d9j
http://query.nytimes.com/gst/fullpage.html?res=9c0de7db153ef933a0575ac0a96f958260&sec=&spon=&pagewanted=2
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Hat Tip: Analog
Fannie Mae Eases Credit To Aid Mortgage Lending
By STEVEN A. HOLMES
Published: September 30, 1999
In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
[…]
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.
''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''
[…]
In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.
''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''
Read the entire article here: Fannie Mae Eases Credit To Aid Mortgage Lending
19990930 NYT Fannie Mae Eases Credit To Aid Mortgage Lending
http://tinyurl.com/6p5d9j
http://query.nytimes.com/gst/fullpage.html?res=9c0de7db153ef933a0575ac0a96f958260&sec=&spon=&pagewanted=2
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Sunday, March 08, 2009
Todd Sullivan on Fox News
Todd Sullivan on Fox News
Photo: Todd Sullivan - http://seekingalpha.com/article/121688-santelli-s-rant-a-watershed-moment
Sunday, March 8, 2009
Twitter: Really appreciated watching Todd Sullivan http://tinyurl.com/ctrbel on Fox News about the stock market … #Dayhoff
http://www.valueplays.blogspot.com/
Journalists Sullivan-Todd, Blog Valueplays
20090308 SDOSM Todd Sullivan on Fox News
Photo: Todd Sullivan - http://seekingalpha.com/article/121688-santelli-s-rant-a-watershed-moment
Sunday, March 8, 2009
Twitter: Really appreciated watching Todd Sullivan http://tinyurl.com/ctrbel on Fox News about the stock market … #Dayhoff
http://www.valueplays.blogspot.com/
Journalists Sullivan-Todd, Blog Valueplays
20090308 SDOSM Todd Sullivan on Fox News
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Saturday, March 07, 2009
Wall Street Journal: FDIC - Bank Robbery
Bank Robbery
Depleting capital when it's most needed.
MARCH 4, 2009 REVIEW & OUTLOOK
The Treasury and Federal Reserve continue to cook up creative ways to pump taxpayer money into troubled financial institutions. So we're having a tough time understanding why another federal agency, the FDIC, has announced plans to take $27 billion out of the banking system this year.
It's true that the FDIC's deposit-insurance fund has been shrinking, and that since the beginning of 2009 the FDIC has rolled up two banks a week, on average. It took over two more last Friday. The fund is now down to $19 billion from $52 billion a year ago and by law had to be replenished.
But the deposit-insurance fund is itself a legal fiction…
More: Bank Robbery
20090304 WSJ Bank Robbery
http://online.wsj.com/article/SB123612634762624059.html
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Depleting capital when it's most needed.
MARCH 4, 2009 REVIEW & OUTLOOK
The Treasury and Federal Reserve continue to cook up creative ways to pump taxpayer money into troubled financial institutions. So we're having a tough time understanding why another federal agency, the FDIC, has announced plans to take $27 billion out of the banking system this year.
It's true that the FDIC's deposit-insurance fund has been shrinking, and that since the beginning of 2009 the FDIC has rolled up two banks a week, on average. It took over two more last Friday. The fund is now down to $19 billion from $52 billion a year ago and by law had to be replenished.
But the deposit-insurance fund is itself a legal fiction…
More: Bank Robbery
20090304 WSJ Bank Robbery
http://online.wsj.com/article/SB123612634762624059.html
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Friday, February 27, 2009
NPR Belt Tightening Leads To Artistic Expansion
NPR Belt Tightening Leads To Artistic Expansion
February 27, 2009 NPR· Tough times can often be a springboard for creativity. When no one's job is safe, no one's house is secure and no one knows exactly what to do about it, artists get to work — and start pushing boundaries.
Real Windows MP3
Morning Edition Homepage
Morning Edition Archives
About Morning Edition
Contact Morning Edition
Coming Up:
A visit to a place where the typewriter is alive and clacking, Monday on NPR's Morning Edition.
20090227 NPR Belt Tightening Leads To Artistic Expansion
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
February 27, 2009 NPR· Tough times can often be a springboard for creativity. When no one's job is safe, no one's house is secure and no one knows exactly what to do about it, artists get to work — and start pushing boundaries.
Real Windows MP3
Morning Edition Homepage
Morning Edition Archives
About Morning Edition
Contact Morning Edition
Coming Up:
A visit to a place where the typewriter is alive and clacking, Monday on NPR's Morning Edition.
20090227 NPR Belt Tightening Leads To Artistic Expansion
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Tuesday, February 24, 2009
COLUMN ONE: Hit 'send,' then hit the door By Robin Abcarian February 23, 2009
LAT Column One Hit send then hit the door
From the Los Angeles Times
COLUMN ONE: Hit 'send,' then hit the door By Robin Abcarian February 23, 2009
Farewell e-mails become an art form in this age of pink slips. Some are funny, some are sad -- and some are just plain furious.
It was not the most eloquent subject line for a farewell e-mail to 5,000 co-workers: "So long, suckers! I'm out!"
But Jason Shugars worked at Google, whose off-center corporate culture is more forgiving than that of your average buttoned-down investment bank. In the rest of his goodbye, Shugars, a senior sales compliance specialist, reminisced about workplace moments that included putting cake down his pants at a sales conference, stealing a boss' $8,000 leather couch and singing "Hit Me Baby One More Time" in a miniskirt and braids.
[…]
That's a good question these days, now that thousands of people are finding themselves with pink slips and the need to let colleagues and contacts know they are moving on and -- perhaps more important for job seekers -- how they can be reached.
The farewell e-mail has suddenly become commonplace, a new art form in the electronic age. Yet like so many aspects of the Internet era -- how to unfriend on Facebook, how much to reveal on a personal blog -- the technology has gotten ahead of the etiquette. There are, quite simply, no rules.
[…]
In May, lawyer Shinyung Oh was let go from the San Francisco branch of the Paul Hastings law firm six days after losing a baby. The seven-year associate, who said she was told her previous, glowing evaluations may have been "overinflated," composed a blistering e-mail to the partners and fired it off to about 1,000 colleagues around the world.
She accused the firm's partners of "heartlessness" and of blaming her for failing to generate business "that should have been brought in by each of you."
"If this response seems particularly emotional," she wrote to the partners, "perhaps an associate's emotional vulnerability after a recent miscarriage is a factor you should consider the next time you fire or lay someone off. It shows startlingly poor judgment and management skills -- and cowardice -- on your parts."
Within an hour, Oh said, her e-mail was posted on a widely read legal affairs blog, then made its way into the mainstream media.
[…]
Will Schwalbe, coauthor of "Send: Why People E-mail So Badly and How to Do it Better," said the farewell e-mail was a reflection of two intersecting trends: the universality of e-mail and the confessional spirit of the times, which have resulted, as he put it, in "the democratization of the process."
In the pre-computer world, Schwalbe said, "Personnel wrote something -- a memo, Xeroxed -- generally, you didn't get to do it. They did it. But what had been an HR function is now a personal function." That, he said, leads to a different sort of message.
Read the entire article here: COLUMN ONE: Hit 'send,' then hit the door By Robin Abcarian February 23, 2009
20090223 LAT Column One Hit send then hit the door
http://www.latimes.com/news/la-na-farewell-emails23-2009feb23,0,4893360.story?track=rss
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
From the Los Angeles Times
COLUMN ONE: Hit 'send,' then hit the door By Robin Abcarian February 23, 2009
Farewell e-mails become an art form in this age of pink slips. Some are funny, some are sad -- and some are just plain furious.
It was not the most eloquent subject line for a farewell e-mail to 5,000 co-workers: "So long, suckers! I'm out!"
But Jason Shugars worked at Google, whose off-center corporate culture is more forgiving than that of your average buttoned-down investment bank. In the rest of his goodbye, Shugars, a senior sales compliance specialist, reminisced about workplace moments that included putting cake down his pants at a sales conference, stealing a boss' $8,000 leather couch and singing "Hit Me Baby One More Time" in a miniskirt and braids.
[…]
That's a good question these days, now that thousands of people are finding themselves with pink slips and the need to let colleagues and contacts know they are moving on and -- perhaps more important for job seekers -- how they can be reached.
The farewell e-mail has suddenly become commonplace, a new art form in the electronic age. Yet like so many aspects of the Internet era -- how to unfriend on Facebook, how much to reveal on a personal blog -- the technology has gotten ahead of the etiquette. There are, quite simply, no rules.
[…]
In May, lawyer Shinyung Oh was let go from the San Francisco branch of the Paul Hastings law firm six days after losing a baby. The seven-year associate, who said she was told her previous, glowing evaluations may have been "overinflated," composed a blistering e-mail to the partners and fired it off to about 1,000 colleagues around the world.
She accused the firm's partners of "heartlessness" and of blaming her for failing to generate business "that should have been brought in by each of you."
"If this response seems particularly emotional," she wrote to the partners, "perhaps an associate's emotional vulnerability after a recent miscarriage is a factor you should consider the next time you fire or lay someone off. It shows startlingly poor judgment and management skills -- and cowardice -- on your parts."
Within an hour, Oh said, her e-mail was posted on a widely read legal affairs blog, then made its way into the mainstream media.
[…]
Will Schwalbe, coauthor of "Send: Why People E-mail So Badly and How to Do it Better," said the farewell e-mail was a reflection of two intersecting trends: the universality of e-mail and the confessional spirit of the times, which have resulted, as he put it, in "the democratization of the process."
In the pre-computer world, Schwalbe said, "Personnel wrote something -- a memo, Xeroxed -- generally, you didn't get to do it. They did it. But what had been an HR function is now a personal function." That, he said, leads to a different sort of message.
Read the entire article here: COLUMN ONE: Hit 'send,' then hit the door By Robin Abcarian February 23, 2009
20090223 LAT Column One Hit send then hit the door
http://www.latimes.com/news/la-na-farewell-emails23-2009feb23,0,4893360.story?track=rss
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
Monday, February 23, 2009
Rick Santelli and the "Rant of the Year"
Transcript
Hat Tip: NewsBusters
(from start to about 2:33)
Becky Quick, in studio: …. Rick have you been listening (to the previous conversation)?
Rick Santelli, on trading floor: Listening to it? I’ve been just glued to it because Mr. Ross has nailed it. You know, the government is promoting bad behavior, because we certainly don’t want to put stimulus forth, and give people a whopping eight or ten dollars in their check, and think that they ought to save it.
And in terms of modifications, I’ll tell you what, I have an idea. You know the new administration’s big on computers and technology. How about this, (Mr.) President and new administration — Why don’t you put up a web site to have people vote on the Internet as a referendum to see if we really want to subsidize the losers’ mortgages, or would we like to, at least, buy cars and buy houses in foreclosure and give them to people who might have a chance to actually prosper down the road, and reward people that could carry the water, instead of drink(ing) the water.
Trader sitting near by: What a novel idea! What? Who thought of that!
(traders in the pit start clapping and cheering)
Joe Kernen, in studio: Rick, they’re like putty in your hands. Did you hear –
Santelli: No they’re not, Joe. They’re not like putty in our hands! This is America! (turns around to address pit traders) How many of you people want to pay for your neighbors’ mortgage that has an extra bathroom and can’t pay their bills? Raise their hand. (traders boo; Santelli turns around to face CNBC camera) President Obama, are you listening?
Trader (sitting nearby, goes over to Santelli’s mike): How about we all stop paying our mortgage? It’s a moral hazard.
Kernen: It’s like mob rule here, I’m getting scared. I’m glad –
Santelli: Don’t get scared, Joe. They’re already scaring you. Y’know, Cuba used to have mansions and a relatively decent economy. They moved from the individual to the collective. Now they’re driving ‘54 Chevys, maybe the last great car to come out of Detroit.
Kernen: They’re driving ‘em on water too, which is a little strange to watch, at times.
Santelli: There you go.
Kernen: Hey Rick, how about the notion that Wilbur pointed out, you can go down to 2% on the mortgage …..
Santelli: You can go down to minus two percent, they can’t afford the house!
Kernen: ….. and still have 40% not be able to do it, so why are we trying to keep them in the house?
Santelli: I know Mr. Summers is a great economist, but boy I’d love the answer to that one.
(some cross-talk)
Quick: Wow. You get people fired up.
Santelli: We’re thinking of having a Chicago Tea Party in July. All you capitalists that want to show up to Lake Michigan, I’m going to start organizing.
Quick: What are you dumping in this time?
Santelli: We’re going to be dumping in some derivative securities. What do you think about that?
Wilbur Ross, in studio: Mayor Daley is marshalling the police right now.
Kernen: The rabble rousers.
Ross: …. the National Guard.
(from about 3:10 to 3:35)
Ross: You know Rick, one of our producers says if Roland Burris steps down, man, Senator Santelli, the junior senator from Illinois. It’s a possibility. I’m just sayin’ –
Santelli: Do you think I want to take a shower every hour? The last place I’m ever going to live or work is DC.
Kernen: Have you raised any money for Blago?
(laughter)
Santelli: No, but I think that Somebody’s going to have to start raising money for us.
(go to 3:50 mark until almost the end)
Santelli: Listen, all I know is that there’s only about 5% of the floor population here right now, and I talk loud enough they can all hear me. So if you want to ask them anything, let me know. These guys are pretty straightforward, and my guess is, a pretty good statistical cross section of America, the silent majority.
Quick: Not so silent majority today.
Kernen: Yeah, not so silent.
Quick: So Rick, are they opposed to the housing thing, to the stimulus package, to everything out there?
Santelli: You know, they’re pretty much of the notion that you can’t buy your way into prosperity, and if the multiplier that all of these Washington economists are selling us is over one, that we never have to worry about the economy again. The government should spend a trillion dollars an hour because we’ll get $1.5 trillion back.
Quick: Wilbur?
Ross: Rick I congratulate you on your new incarnation as a revolutionary leader.
Santelli: Somebody needs one. I’ll tell you what, if you read our Founding Fathers, people like Benjamin Franklin and Jefferson, what we’re doing in this country now is making them roll over in their graves.
20090219 Rick Santelli and the Rant of the Year YT
(from start to about 2:33)
Becky Quick, in studio: …. Rick have you been listening (to the previous conversation)?
Rick Santelli, on trading floor: Listening to it? I’ve been just glued to it because Mr. Ross has nailed it. You know, the government is promoting bad behavior, because we certainly don’t want to put stimulus forth, and give people a whopping eight or ten dollars in their check, and think that they ought to save it.
And in terms of modifications, I’ll tell you what, I have an idea. You know the new administration’s big on computers and technology. How about this, (Mr.) President and new administration — Why don’t you put up a web site to have people vote on the Internet as a referendum to see if we really want to subsidize the losers’ mortgages, or would we like to, at least, buy cars and buy houses in foreclosure and give them to people who might have a chance to actually prosper down the road, and reward people that could carry the water, instead of drink(ing) the water.
Trader sitting near by: What a novel idea! What? Who thought of that!
(traders in the pit start clapping and cheering)
Joe Kernen, in studio: Rick, they’re like putty in your hands. Did you hear –
Santelli: No they’re not, Joe. They’re not like putty in our hands! This is America! (turns around to address pit traders) How many of you people want to pay for your neighbors’ mortgage that has an extra bathroom and can’t pay their bills? Raise their hand. (traders boo; Santelli turns around to face CNBC camera) President Obama, are you listening?
Trader (sitting nearby, goes over to Santelli’s mike): How about we all stop paying our mortgage? It’s a moral hazard.
Kernen: It’s like mob rule here, I’m getting scared. I’m glad –
Santelli: Don’t get scared, Joe. They’re already scaring you. Y’know, Cuba used to have mansions and a relatively decent economy. They moved from the individual to the collective. Now they’re driving ‘54 Chevys, maybe the last great car to come out of Detroit.
Kernen: They’re driving ‘em on water too, which is a little strange to watch, at times.
Santelli: There you go.
Kernen: Hey Rick, how about the notion that Wilbur pointed out, you can go down to 2% on the mortgage …..
Santelli: You can go down to minus two percent, they can’t afford the house!
Kernen: ….. and still have 40% not be able to do it, so why are we trying to keep them in the house?
Santelli: I know Mr. Summers is a great economist, but boy I’d love the answer to that one.
(some cross-talk)
Quick: Wow. You get people fired up.
Santelli: We’re thinking of having a Chicago Tea Party in July. All you capitalists that want to show up to Lake Michigan, I’m going to start organizing.
Quick: What are you dumping in this time?
Santelli: We’re going to be dumping in some derivative securities. What do you think about that?
Wilbur Ross, in studio: Mayor Daley is marshalling the police right now.
Kernen: The rabble rousers.
Ross: …. the National Guard.
(from about 3:10 to 3:35)
Ross: You know Rick, one of our producers says if Roland Burris steps down, man, Senator Santelli, the junior senator from Illinois. It’s a possibility. I’m just sayin’ –
Santelli: Do you think I want to take a shower every hour? The last place I’m ever going to live or work is DC.
Kernen: Have you raised any money for Blago?
(laughter)
Santelli: No, but I think that Somebody’s going to have to start raising money for us.
(go to 3:50 mark until almost the end)
Santelli: Listen, all I know is that there’s only about 5% of the floor population here right now, and I talk loud enough they can all hear me. So if you want to ask them anything, let me know. These guys are pretty straightforward, and my guess is, a pretty good statistical cross section of America, the silent majority.
Quick: Not so silent majority today.
Kernen: Yeah, not so silent.
Quick: So Rick, are they opposed to the housing thing, to the stimulus package, to everything out there?
Santelli: You know, they’re pretty much of the notion that you can’t buy your way into prosperity, and if the multiplier that all of these Washington economists are selling us is over one, that we never have to worry about the economy again. The government should spend a trillion dollars an hour because we’ll get $1.5 trillion back.
Quick: Wilbur?
Ross: Rick I congratulate you on your new incarnation as a revolutionary leader.
Santelli: Somebody needs one. I’ll tell you what, if you read our Founding Fathers, people like Benjamin Franklin and Jefferson, what we’re doing in this country now is making them roll over in their graves.
20090219 Rick Santelli and the Rant of the Year YT
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/
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