Friday, November 4, 2011

Quick Hits - November 4, 2011

Happy Friday!

Quick Hits starts off with Nancy Pelsoi, the House Minority Leader, opining that unemployment in this country would be 15% if President Obama and the Democrat Congress of 2009 didn't pass the $817B stimulus bill.  Hmm, wasn't the big selling point of this bill from the President and his Economic Advisory team of Romer, Somers, and Goolsbee (all of whom are back in private sector / academia) that unemployment wouldn't exceed 8% if the bill was passed.  Also,isn't the House Minority Leader aware that the current unemployment / underemployment rate is nearly 18%?  Well, Nancy hasn't been elected because of her intellect.

Former New Jersey Governor and NJ Senator, Jon Corzine, resigned this morning as the Chairman and CEO of the bankrupt investment bank MF Global.  MF Global filed for bankruptcy protection after Corzine's extremely risky positions vis a vis the EuroZone bond market collapsed.  Adding to the challenges being faced by Corzine and MF Global is that approximately $700M in client funds are unaccounted for - stemming in large part to the firm's co-mingling of client and corporate funds.  One has to wonder where the regulators were with this as this level of book keeping should have tripped numerous alarms.  The FBI is going to investigate.

All of this has an embarrassing effect on the President.  In addition to running the company into the ground, Corzine was an active fund raising bundler for the President - directly responsible for over $500K in campaign donations.  Given the President's tirade against Wall Street and crooked big shots, will the President embrace hypocrisy or return these donations - some of which may have come from tainted funds?

Speaking of the outrage against Wall Street and crooked Wall Street CEO's (many who are Democrats and large supporters of the President), #OccupyWallStreet is still not planning to march on Jon Corzine's home.  But scandals continue to appear related to the astroturfed 'movement'.  What makes a 'movement' astroturf or fake?  The fact that many of the protesters are being paid to participate by progressive organizations.  The organization formerly known as ACORN is busy today firing workers and shredding documents that detail that not only are they one of the key organizers behind this 'spontaneous' movement, but that they're paying protesters $10/ Hr or $100/Day for their participation.  (How much of that is taxpayer funds?)

The President of the United Steelworkers International union is speaking out about the OWS protests..."We need more militancy...blocking bridges, occupying banks..." As he opines about what is needed in the movement to gain more traction with middle America and effect change.  This is pretty much standard from all of the chief executives of the major US unions - more violence to effect change.  Of course, their, and the OWS ties to marxism, communism, nazism, anarchists, and other various flavors of fascism are so appealing to middle America...

Here's a link to the updated OccupyWallStreet Rap Sheet.  That movement is so similar to the Tea Party Movement....except for the violence, the crime, the marxists, communists, nazis, anarchists, and other flavors of fascism that comprise the movement.

In Big Peace's World View for 4 November the report highlights that it appears Greece has blinked when faced with Euro objections and has cancelled their referendum on the EU / Bailout.  Still, the Greek PM faces a no-confidence vote today in Parliament.

As noted earlier in the week, UNESCO was one of the first major United Nations organizations that voted (overwhelmingly) to admit the Palestinian Authority as a full member.  This is in relation to the application to the UN for the UN to recognize a Palestinian state in Gaza and the West Bank.  It also happened as dozens of missiles were launched from Gaza into Israeli cities and towns.  Anti-Israeli and anti-Semitic emotions run high in the swamp that is the UN.  Here's Cartoonist Michael Ramirez take on the recognition of the PA as a full member.

The US, under law, has announced that it will stop all funding towards UNESCO - but otherwise the comments by US Ambassador to the UN Susan Rice has been tepid....and the US has not withdrawn from UNESCO as it has done in the past when the organization took positions against Israel and the US. 

Finally, in local news to the 'Ranch', a major road widening project for the Golden State Freeway (I-5) through the Valley is likely to start in January as reported by the President of the Golden State Gateway Coalition at the West Ranch Town Council meeting this past Wednesday.  This project will extend truck-only lanes and add carpool lanes to the highway through the SCV.  The project is projected to cost $543M.  While the additional lanes will be welcome, no one in the Valley is looking for 2 years of construction to add to the challenges of the Newhall Pass.

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