Friday, May 01, 2009

Bankers, Bacon and Flu

When it's about money, and it usually is, money talks. So when the Senate voted down help for homeowners faced with foreclosure yesterday the only real truth was the clout the banks have over congress, and ultimately over we, the people.

"The vote was 51 to 45, with 12 Democrats joining Republicans in opposing the proposal, under which bankruptcy judges could order lenders to reduce the principal on home mortgages. The proposal, which sailed through the House in March, was a key part of Obama's plan to reduce the tide of home foreclosures.

Its defeat in the Senate marked a turnaround for the Democratic supporters of the bill, who had hoped that the party's new majority would boost its chances for passage.

Instead, Democratic leaders were furious to see bankers lobbying against consumer protection measures after Congress had approved enormous sums to shore up the financial services industry."

If you ask me, Obama's balls seem to be in the ringer. Where's help when you need it?

But wait--he has Timothy F. Geithner as Treasury Secretary taking care of business--big business. In case you weren't sure, and I even know people who are not as "involved" in the daily news/political go 'round as me express skepticism--Tim's not entirely removed from conflicts of interest between we, the people, and them the bankers, according to a new report on the New York Times:

"Even as banks complain that the government has attached too many intrusive strings to its financial assistance, a range of critics — lawmakers, economists and even former Federal Reserve colleagues — say that the bailout Mr. Geithner has played such a central role in fashioning is overly generous to the financial industry at taxpayer expense...

An examination of Mr. Geithner’s five years as president of the New York Fed, an era of unbridled and ultimately disastrous risk-taking by the financial industry, shows that he forged unusually close relationships with executives of Wall Street’s giant financial institutions.

His actions, as a regulator and later a bailout king, often aligned with the industry’s interests and desires, according to interviews with financiers, regulators and analysts and a review of Federal Reserve records."

Is there no shame, Mr. Obama? Have you at last no objectivity anymore? Is everyone totally interconnected so even you, our deliverer, our promised hero, the one who was gonna kick out the old and bring in the new--Have you crossed over to...being inside the beltway? If so, we're indeed lost.

And since you are so smart and aware, you must be doing this knowingly--letting the chips fall outside of campaign promises and declarations. You--more than the last guy, who we assumed was a lost puppy in tow by sinister powers that be--actually have a clue about the direction these votes and advisers are taking us. So again, one must inquire, what happened to your...chutzpah? Even your press conference ratings are tanking.

"Nielsen said the president’s Wednesday prime-time press conference drew an audience of 28.8 million people. The event marked his 100th day in office and pulled in an 18.8 household rating on 10 TV networks at 8 p.m. Eastern Standard Time.

Viewership was 29 percent less than the president’s March 24 press conference, which was seen on 11 networks. That telecast brought in 40.4 million viewers for a 25.9 household rating. President Obama’s first prime-time press conference on Feb. 9 was watched by 49.5 million U.S. viewers on eight networks, generating a 30.8 household rating. Around 37.8 million people watched him get sworn in Jan. 20, for a 25.5 household rating."

Time you started taking charge again. Stir it up, like the campaign. Or get rid of Larry Summers and some of the other old guard who are so far in bed with the big bad bankers they don't know what a real American looks like.

There's a lot more to this influence-peddling business with Obama and his inner sanctum--but I have to go to check on my bacon on the front burner. I'm frying some up to make bacon bits for my salad--I want to eat healthy but lettuce without bacon bits is not something I can look forward to. But this swine-flu scare is making me nervous. Because if they start killing all the pigs, what will happen to my bacon? How will it affect the price, no less the supply?

As for the flu--let me know if you know anyone who gets it this year. Probably not.

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