Sarah, the Word is Caricature! The Palin Couric Interview

Here is the transcript of the Palin-Couric Interview. We can see why McCain-Palin are doing everything possible to avoid the VP debates, including suspending the campaign.

TRANSCRIPT:

COURIC: You've cited Alaska's proximity to Russia as part of your foreign policy experience. What did you mean by that?
PALIN: That Alaska has a very narrow maritime border between a foreign country, Russia, and on our other side, the land-- boundary that we have with-- Canada. It-- it's funny that a comment like that was-- kind of made to-- cari-- I don't know, you know? Reporters--
COURIC: Mock?
PALIN: Yeah, mocked, I guess that's the word, yeah.
COURIC: Explain to me why that enhances your foreign policy credentials.
PALIN: Well, it certainly does because our-- our next door neighbors are foreign countries. They're in the state that I am the executive of. And there in Russia--
COURIC: Have you ever been involved with any negotiations, for example, with the Russians?
PALIN: We have trade missions back and forth. We-- we do-- it's very important when you consider even national security issues with Russia as Putin rears his head and comes into the air space of the United States of America, where-- where do they go? It's Alaska. It's just right over the border. It is-- from Alaska that we send those out to make sure that an eye is being kept on this very powerful nation, Russia, because they are right there. They are right next to-- to our state.

(see video in upper right hand side of page)

The Bailout, the Economy and Immigration! Why the Republicans are Primarily Responsible!

As I have written in previous blogs, Immigration is not the root cause of the economic disasters our country faces today. The Primary Issue is the Global Economy. Lupita, an old friend of many of the members of this blog said about the US economy, "Our economy is just an illusion of economic growth. Big business has partnered with the Administrations from Reagan forward to develop a method to expand our labor force, push wages down and increase corporate profits." She often predicted we would face economic disasters due to our greed. Lupita´s words came back to haunt me this week as I saw news of the bailouts.

Here are the recent headlines of this crisis:

U.S. Drafts Sweeping Plan to Fight Crisis

Treasury Announces Plan To Buy Troubled Mortgage Assets

"WASHINGTON -- The federal government is working on a sweeping series of programs that would represent perhaps the biggest intervention in financial markets since the 1930s, embracing the need for a comprehensive approach to the financial crisis after a series of ad hoc rescues. Treasury Secretary Henry Paulson announced plans Friday to quickly set up a "bold" government program to take over troubled mortgage assets from financial institutions, along with other efforts to step up the purchase of mortgage-backed securities. "The federal government must implement a program to remove these illiquid assets that are weighing down our financial institutions and threatening our economy," Mr. Paulson said in prepared remarks for a press conference."

I tend to agree with Lupita. The blame for this economic downfall is Greed, good old fashioned American Greed! Here is my view of why we are in the mess we are in. From 2002 to 2007, countless mortgage companies, many of them "no-name", mailed me and everyone else I know mortgage offers. "Refinance Now!" read the headlines. TV and Radio ads heralded the same "Refinance Now!" Remember the annoying Ditech commercials? Everyone was pushing these loans. I remember my daughter in law speaking of a friend of a friend who was in the mortgage game and selling mortgages from her house. She said anyone could afford a house now and if we were ever in the market for a new mortgage or refinance, they would get us a good "deal." (Everybody and their brother had a friend of a friend like this pushing and pushing these predatory loans).

I also remember a peer from work who lived in a pricey California neighborhood. She and her new husband decided to purchase one of those "interest only" loans for her very pricey $400K, 2B condo. I asked how she could do that. Why didn´t she try to move to a more affordable location. She said her mortgage person persuaded her it was affordable and with property being so valuable in that area, reselling would be easy. I told her I was nervous for her and I would never buy a home without a conventional mortgage. She called me a worry wart. Now I think about her and that balloon mortgage. How many others are foreclosing now because now they can´t refinance their ballooned mortgages and they can no longer afford their tripled or quadrupled monthly rates?

I remember the phone calls from the telemarketers. They were relentless in trying to sell, sell, sell these new mortgages. My mailbox was always full of offers. Again, this started in 2002-2003. I ask everyone to use their own memory on when these changes happened. Don´t rely on someone else who wants to scapegoat.

Why is it important to remember what happened and the timing? Because then you can pinpoint for yourself who is primarily accountable. (besides our greedy selves).

Politicians from both sides are busy trying to point fingers at one another. The most ludicrous accusations were from Republican politicians who pointed to legislation from the Clinton era stopping the heinous act of "redlining." Redlining, for those who may not know, is the practice of denying or increasing the cost of services to residents in certain, often racially determined, areas. The most devastating, mortgage discrimination. So the right wing nuts try to point to the anti-redlining legislation as the root cause. Ludicrous.

If one were to point towards any legislation that most contributed to this turn of economic events they would point to the "Commodity Futures Modernization Act of 2000." This legislation provided certainty that products offered by banking institutions would not be regulated as futures contracts. This law creates a LOOPHOLE for many GOP cronies (e.g. Enron) which exempts most over-the-counter energy trades and trading on electronic energy commodity markets. The "loophole" was drafted by Enron Lobbyists working with Senator Phil Gramm (Sen. McCain´s best friend) seeking a deregulated atmosphere for their new experiment, "Enron On-line". The act specifically banned regulation of credit default swaps. These unregulated instruments, insurance policies against default on risky investments like mortgage backed securities.

This is very important to understand. Mortgage companies were NO LONGER REGULATED nor were they accountable for risky mortgages. They often sold these "risks" to foreign lenders.

HR5660 and S.3283 were introduced in December 2000 by Republicans: Sen Phil Gramm, Sen Charles Hagel, Sen Peter Fitzgerald Rep Tom Ewing, Rep Tom Bliley, Rep Larry Combest, Rep James Leach, with some Dem support including Rep LaFalce and Sens Harkin and Johnson. These bills were NEVER debated in the House or the Senate. Since then, several attempts have been made to overturn them. While these bills were championed by the Republicans, they did have some support by some Democrats, so we cannot point blame at one party. Since then however, several attempts (championed by the Dems) have been made to overturn this act. In fact, an attempt to repeal the policy was vetoed by President Bush in 2008.

However, beyond legislation, the plain facts are, the primary root cause is Greed and Corruption. Here is what Robert Reich said about Fannie and Freddie:

Fannie and Freddie, as Predicted

"Apologists will say that Fannie and Freddie exist to make housing loans to low-income Americans, so it was inevitable that the two giants would get caught in the quagmire of the housing burst. But the fact is, Fannie and Freddie -- and the executives who ran them and still run them -- have been out to maximize profits. Period. Just the same as every other mortgage and investment bank. High-risk sub-prime loans offered a higher rate of return, so Fannie and Freddie went into them big time. And because of the implicit government guarantee, Fannie and Freddie could take on even more risks and make even more money. Until now. It's another case of socialized capitalism, folks. The largest, yet. Along with making lots of money for investors and their executives, Fannie and Freddie corrupted our political process. They blocked any attempt to reign in the risks. Their lobbyists were and are the most sophisticated and among the most ubiquitous in Washington."

On Fannie & Freddie Accounting Gimmicks

Accounting gimmicks first came to light at Fannie and Freddie in 2003, at which time Fannie's and Freddie's former CEOs were sacked. Why, then, did they continue for another five years, even under new CEOs, even after policymakers first learned of them? Three reasons: (1) Top executives and shareholders continued to profit from them so there was no incentive to stop them, (2) everyone involved kept expecting home values to continue to rise -- or, when they fell, rise again soon enough -- to make up for the accounting shortfalls, and (3) Fannie and Freddie continued to be in bed with Congress and the administration. Democrats and Republicans alike have been complicit in this outrage.

Now, we are told, we have no recourse but to rescue these companies, otherwise we risk a Depression far worse than the Great Depression of the 1930s. The $700B plan Secretary Paulson is championing should be reviewed by every American. This Rescue Plan will bill the American Taxpayers trillions of dollars. This bail out for $700 BILLION dollars (probably trillions) our children and our grandchildren will be in debt for the next several decades. Additionally, the initial draft of this proposal is only bailing out the companies and their investors, NOT the citizens with mortgages. The Dems are asking that the citizens (who took these risky loans) be bailed out as well. The plans are being put in place now. We ALL should study them so we know what we are asking our grandkids to support.

Final Note:

I find the timing of these events incredible. These crises happen just months before the end of the Bush Presidency. He is bailing out his friends and his cronies now, before the Republicans are out of office. How many more of these type of coincidents will we see?

Bush Legacy:

1. Mortgage Co. Bailout

2. Gas prices through the roof ($5)

3. Nafta-Cafta extended to other countries

4. (I am sure there are many more... we should start a list.)

References:

Commodity Futures Act

Redlining

Robert Reich´s Blogs

U.S. Drafts Sweeping Plan to Fight Crisis

Soap Opera Politics Vol 1, Issue 13: The McCains Pandering in Mexico Falls on Skeptical Ears!

It looks like the McCains´ political tour of Mexico and Columbia this week fell on deaf, skeptical ears. Do they believe him when he says their mutual perspectives include: security, Immigration and trade? Are they the same? If they are the same, why doesn´t he say this to the American people? Hmmmm. Maybe that´s why they are skeptical!

The Christian Science Monitor reports:

Mexico City; and BogotÁ, Colombia - On a three-day visit to Colombia and Mexico, Republican presidential hopeful John McCain is seeking to show that he cares about the same issues as Latin Americans: security, immigration, and trade. But the tour will likely do little to woo people in the region, analysts say. Even though Mr. McCain enjoys a better image than President Bush in Latin America, Democratic contestant Barack Obama has an edge simply because he is the fresher figure, says Michael Shifter, the vice president for policy at the Inter-American Dialogue in Washington. "[Senator] Obama is seen as someone who could understand a changing Latin America, one that rejects the 'you are on one side or the other' politics," says Mr. Shifter. Also, the fact that McCain has chosen to visit the region's most conservative leaders – Colombian President Álvaro Uribe and Mexican President Felipe Calderón – could underscore a more traditional mind set. "It reinforces the sense that he will stand with his friends," says Shifter. "But even the people in those countries say [US politicians] can't afford to look at the region that way."
McCain's visit to Colombia, where he met with Mr. Uribe on Tuesday, is an attempt to mark a difference with Obama on both trade issues and counterterrorism, says political commentator Andrés Peñate. A Colombian free trade deal negotiated between the Bush and Uribe governments is bogged down in the US Congress amid concerns from many Democrats about human rights, including a long history of violence against trade unionists in Colombia. McCain praised Colombia in its fight against drug production and leftist rebels. In doing so, Mr. Peñate says McCain seeks to showcase Colombia as a "success story" of Republican foreign policy. The United States supplies Colombia with about $600 million a year in mostly military aid.
Trade and security are expected to dominate meetings in Mexico, too. Both nominees support the Merida Initiative, a new package passed by Congress to help stem drug violence in Mexico and Central America. McCain's visit also allows him to emphasize support for the North American Free Trade Agreement, which Obama has said should be renegotiated to better address labor and environmental terms. Still, no matter what McCain says, many Mexicans say the visit does not instill faith that he will have any greater commitment to Latin America than Bush. Juan Pablo Hurle, a consultant in Mexico City, says that McCain is better than Bush, but he sides with Obama. "If Obama wins, things will change," he says. "McCain is not interested in Latinos in Latin America, only those Latinos in the US whose vote matters to him." Some Mexicans say they favor McCain, but a zeal for Obama, as a minority, is an undertone across Latin America. "Obama will change everything if he is elected... there will be true immigration reform and not a band-aid because he has African heritage and understands the plight of immigrants," says Marco Polo Herrera, a student in Mexico City. "McCain will be more of the same."

Soap Opera Politics Vol 1, Issue 9: McBush Courts Latino Voters! Si Se Puede!

As Obama and Hillary are duking it out until the end, McCain and the Prez are busy courting the Latino Voters! Here are 2 recent articles. 1st, McCain panders. In the 2nd article, the Prez serenades for votes.
BREAKING NEWS: McCain scheduled to appear at NCLR ("La Raza") Convention in July.

CNN Reports:

Sen. John McCain said Monday the tenor of the immigration debate has hurt the way Hispanic voters view the Republican Party. Sen. John McCain lauched a Spanish-language Web site on Monday. "I believe the majority of Hispanics share our view that the border must be secured, and the border must be secured first," McCain said in Phoenix, Arizona. "But they also want us to have an attitude which I think most Americans do, that these are God's children and they must be taken care of."
The senator from Arizona used Cinco de Mayo as a launching pad for a new Spanish-language Web site on Monday, and he emphasized his stance on immigration and border security as he tried to court the Hispanic vote. Republican strategists have said McCain has to do well with Hispanic voters to win in November. When President Bush was re-elected in 2004, he received 44 percent of the Hispanic vote, but that was before the divisive political debate erupted over illegal immigration. McCain is seen as a moderate Republican when it comes to immigration reform, but the conservative base of his party has taken a hard-line approach on the issue. In 2005, McCain angered some in his party when he and Democratic Sen. Ted Kennedy unsuccessfully pushed for a comprehensive immigration reform bill that included a path to citizenship.
McCain now says he would focus first on securing the borders before offering other ways to deal with illegal immigration. McCain on Monday empathized with Hispanics who have been mistreated and said low-income Hispanics are often the first to lose their jobs when someone come to the United States illegally.

Article 2 - WTOPNews:

Bush praises Mexican Americans

May 5, 2008 - 10:03pm By SUZANNE GAMBOA Associated Press Writer
WASHINGTON (AP) - President Bush wished a gathering of dinner guests a "Feliz Cinco de Maya" Monday in his final White House celebration of the Mexican holiday _ slightly erring in his Spanish, but serving up a reminder of how he snared Hispanic votes in the last presidential election. While the heated immigration debate has caused some strain between the United States and Mexico, Bush was more conciliatory Monday. He said Cinco de Mayo is a chance to prove the two countries are "connected by more than geography." He referred correctly to the day, Cinco de Mayo, in other parts of his brief speech. "We share an interest in making sure our people are prosperous and safe," Bush said of Mexico. "In America, we deeply value the culture and contributions of Mexican Americans. The United States is a richer place, a more vibrant place because people who claim Mexican heritage are now called United States citizens. ... We consider ourselves fortunate that Mexico is a friend and a neighbor."

...The band later backed Spanish singer Shaila Durcal, who sang three songs for the crowd, including the Mexican classic "Volver, Volver." (I´ll return to you..)

Bush has held Cinco de Mayo celebrations since arriving at the White House in 2001, in part as a symbol of the priority he gave the U.S. relationship with Mexico and his effort to curry favor with the Hispanic community. But as he departs, the Republican Party is anxious about losing Hispanic votes in the November elections. Some Hispanics feel anti-immigrant sentiment has become anti-Hispanic as well. In Phoenix on Monday, Republican John McCain acknowledged the focus on illegal immigration during the GOP primary had hurt his party's image among Hispanics.

My Question for McCain: If you care about Latino Voters, then Announce your Opposition to Sheriff Arpaipo´s Racial Profiling Tactics! IF you do not do this, THEN we will know you are only a Politician and making FALSE PROMISES!!

Arizona is YOUR State! RENOUNCE Arpaio and Latinos will acknowledge you are SERIOUS in supporting our issues and NOT merely pandering as a politician!!

SENATOR MCCAIN, YOU ARE INVITED HERE TO MY BLOG TO RESPOND TO THIS ISSUE AND SPEAK WITH OUR COMMENTERS! WE ARE AN INTERNATIONAL BLOG AND LINKED TO BLOGS ACROSS THE NATION AND THE WORLD. SENATOR MCCAIN. WE ARE AWAITING YOUR ANSWER.

Soap Opera Politics Vol 1, Issue 5: Is John McCain Still Up for the Job?

John and Cindy McCain Meet the Press to defend against accusations of McCain´s marital and lobbying indiscretions.

The New York Times Reports:
For McCain, Self-Confidence on Ethics Poses Its Own Risk
By JIM RUTENBERG, MARILYN W. THOMPSON, DAVID D. KIRKPATRICK and STEPHEN LABATON
Published: February 21, 2008
WASHINGTON — Early in Senator John McCain’s first run for the White House eight years ago, waves of anxiety swept through his small circle of advisers. A female lobbyist had been turning up with him at fund-raisers, visiting his offices and accompanying him on a client’s corporate jet. Convinced the relationship had become romantic, some of his top advisers intervened to protect the candidate from himself — instructing staff members to block the woman’s access, privately warning her away and repeatedly confronting him, several people involved in the campaign said on the condition of anonymity. When news organizations reported that Mr. McCain had written letters to government regulators on behalf of the lobbyist’s client, the former campaign associates said, some aides feared for a time that attention would fall on her involvement.
note: The NY Times says this story has been a long time in the works. The story speaks for itself. No one has challenged what their report says.

Wikipedia Reports:
McCain Spouses:
1. Carol Shepp (1965-1980) (divorced)
2. Cindy Hensley McCain (1980-Present)
In April 1979, while attending a military reception for senators in Hawaii, McCain met and fell in love with Cindy Lou Hensley, 17 years his junior, a teacher from Phoenix, Arizona who was the daughter of James Willis Hensley, a wealthy Anheuser-Busch distributor, and Marguerite Smith Hensley...McCain filed for and obtained an uncontested divorce from his wife Carol in Florida on April 2, 1980. He gave her a generous settlement, including houses in Virginia and Florida and financial support for her ongoing medical treatments resulting from the 1969 automobile accident; they would remain on good terms. McCain and Hensley were married on May 17, 1980 in Phoenix, Arizona, with Senators William Cohen and Gary Hart (another well known cheater) as best man and groomsman. McCain's children were upset with him and did not attend the wedding.
3. Ms Vicki Iseman (illicit affair) (1990´s)
NY Times reports said affair with Ms. Vicki Iseman. Salon.com reports that during this same period, Cindy McCain confessed her Percocet and Vicodin drug addiction to Jane Pauley on Dateline and Diane Sawyer on Good Morning America and the fact that she stole the drugs from her own nonprofit medical relief organization.