September 2008 Archives

The House of Representatives rejected the $700 Billion bailout bill proposed by Secretary of the Treasurer, Henry Paulson and the Bush Administration.  The market responded in turn by dropping nearly 800 points.

A few months ago, I suggested that investor panic was irrational.  Today's reaction was not.  The bailout plan, while costly and very risky, was what the market in general wanted, actually maybe even needed.  Representatives from both sides were thinking about their current constituency and the reaction to such a large number, had the bill passed.  The problem is that they are not looking at the more important constituency...the future.

I'm not saying $700B is a drop in the bucket, but the ramifications of no bill are unimaginable.  If banks fail and the FDIC has to come in and save what they can, we'll end up bailing out too much anyways.  However that will come at two costs.  First, the account holders with more than $100,000, as they'll lose most every penny over that.  Second, the future spenders of America.  Those of us who own homes now have to ensure that we keep it that way.  Because it will be more difficult and costly to refinance or buy new property.  Simply the less diverse batch of banks, the less chance of good deals.

Right or wrong, some bailout bill needs to be passed.
So this was supposed to be the one about the War on Terror.  Events of the week however, put the Economy as subject #1, taking about the first half hour of the debate.  Same old, same old.  McCain to reduce taxes on the wealthy, cut spending.  Obama to reduce taxes for the needy, control spending, but spend where needed.  Of note, McCain wants to reduce the overall budget.  I wonder where from.

I did live blogging on the debate on Twitter and reading other Twitters while watching the debate.  The debate overall was boring, except McCain's references to Miss Congeniality.  That was hilarious.  I didn't know the Senate was a beauty contest.

It appeared that McCain was fresh and active, like he took a case of Red Bull before hitting the stage.  Obama, however, looked very tired.  The campaign has aged him.

Everything discussed tonight were things we've heard from the candidates in the past.  No new info.  It was boring and a draw.  However, one could say the Obama won because the War on Terror is McCain's strong suit.

On to the next debate, assuming McCain does not suspend his campaign beforehand.

Bluff Called

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Cancel the debate?  Campaign suspended?  I'm not a great poker player, as my friends can attest to, but I can spot this bluff.

Sure going back to Washington would have helped McCain's image.  Superman to the rescue!  But here's why it's a bluff.
  • McCain has himself admitted his lack of knowledge in economics.
  • There are reports that McCain's camp asked Obama's camp to suspend their campaign as well.  Also they were to both withdraw from the debate or postpone to a later date.
  • When Obama continued with the campaign, McCain relented and returned to the campaign and the debate.
  • David Letterman called a different bluff when McCain cancelled a scheduled appearance shortly before taping citing his need to return to Washington.  He however was on the set of the CBS Evening News preparing to go on an interview with Katie Couric, at the same time as the Late Show taping.
  • Even Haley Barbour hinted at the bluff by stating that he expected the debate to be held on schedule before McCain decided to attend.
If McCain truly thought that working hard on the bailout was in the best interest of the nation, he would still be in DC.  Instead, he's off to 'Ole Miss as designated negotiators are working on the deal.  You would think someone had thought earlier about getting a negotiator.  Then McCain could have stayed in the race without a break.

I wrote this on The DC Sports Page this morning.  Usually I try not to cross post, but I think this goes beyond sports.

I'm not blind to think that racism does not exist. But how bad could it have been for Dunbar to walk off the field? Worse yet, they had to wait for police escort to leave the stadium? I've never been in an organized football huddle, but from interviews and other reports, I understand there is trash talk on the field. But that goes too far.

Except for a 4 year stint in Virginia, I have lived in Maryland all my life. I've driven through the "handle" of Maryland. But I guess I've been sheltered living in relatively diverse neighborhoods of the DC suburbs.

Well, apparently Microsoft finally saw what virtually everyone else did.  The ads made no sense.  It appears that they have retired those Gates-Seinfeld ads.  Below is the second of the series.

I like how the executive said there was a short shelf life.  2 weeks?  That's really short for two ads.  There is apparently a third.  It had such a short shelf life, it never appeared.

Metallica is back to the band we knew around the ...And Justice for All days.  The guitar sound is back.  I've been a fan since the late 80's when I grew dis-satisfied with the monotonous, repetitive sound of radio.  I plowed through various albums before I bought AJFA on cassette and played it non-stop for months.  For those of you in your 20's or younger, cassettes were rectangular shaped media devices that generally held one album.  The "mix tape" was a popular do it yourself, similar to your mp3 playlist.  Ask you parents or older siblings.  Then ask grandpa about the 8-track.

To Death Magnetic, the title describes the morbid tone of the album.  Very dark, but you are drawn to it.  While I listened to the album about 3 times over the weekend, I have yet to garner all the lyrics, so they could be singing about daisies.  OK, probably dead ones.  Some might say Robert Trujillo was not mixing well with the band.  If it was a problem, it's been solved as I think he's nailed the "true" Metallica sound on bass.

My favorites on the album include "That Was Just Your Life" and "The End of the Line", the first two tracks.  The only disappointment would be "Unforgiven III".  I loved "The Unforgiven" from their self-titled album and think it would have been fabulous cross-promotion for the Clint Eastwood movie Unforgiven that was released around the same time.  But III is dull compared to the rest of the album.

An funny story when I bought it at the national electronics store on Saturday.  I was looking at the display trying to find a copy that was just the album for $9.99.  They were selling a copy for $39.99 that included a "free" download for Guitar Hero III on Xbox.  From behind, I heard a whisper, "Just doooo it".  I looked around and saw a guy in his late 20's.  He picked up a copy of the Xbox version and started walking away again saying "Just do it".  I told him I wanted to, but "Not going to get the $40 version".  He turned around and said "Thanks!  I don't want that one either".  We found our $10 copies a few seconds later.

My rating is "Buy Digitally".  Unless you are a huge Metallica fan, there's no need to get the CD.  Click here to sample or buy on iTunes.
Metallica - Death Magnetic

I was getting ready to watch football yesterday when on the local Fox 5 they ran a commercial that had Jerry Seinfeld and Bill Gates.  I don't get it.  The commercial seemed to run forever, yet is only clocked at one and a half minutes.

Gates is obviously not good at projecting himself.  He was very bland to the point of boring.  Jerry was well Jerry Seinfeld.  Making jokes out of nothing.  Unfortunately, I didn't find them humorous.  See for yourself.
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Senator Joe Lieberman, Independent, Connecticut, spoke at the Republican National Convention last night.  How independent is he though?

Those that know my politics know that I'm a moderate Democrat.  I'm willing to listen to both sides.  Aside from the constant bickering, the one thing that irks me the most are party switchers.  By that, I mean those who were elected by one party and switched to the other while in office.

Lieberman is technically not a party switcher, but he might be worse, as he ran as an Independent, caucases with the Democrats while in the Senate, and now speaks at the RNC.  The Democrats in the Senate are partially to be blamed, as they needed Lieberman to gain the slim majority of 1 in the legislative body.  Lieberman himself has every right to do what he wants.

Except speak at the RNC.  I get that John McCain is his good friend.  Your average American does not pick friends by political affiliation.  Maybe an endorsement is enough.  I want my legislators to have open minds and vote how they feel.  But speak on his behalf?

In last nights speech, he spoke of "We are all Americans" and asked "Why is a Democrat here?".  His first statement is correct.  His second statement is not.  He is an Independent.  And now he has essentially shifted to the Republican side, without declaring it.  At least have the guts to do so.  Caucus with them.

Come after the General Election, the Democrats should strip him of his status and his constitutents should demand he run as a Republican or Independent at his next term.  To think this guy was the Democratic VP Nominee just a few years ago.

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    About this Archive

    This page is an archive of entries from September 2008 listed from newest to oldest.

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