Republican’s fancy themselves to be the party of values. They profess to love God and country. They believe themselves to be the real Americans. They are the absolute definition of righteous patriots. They see themselves and their families basking in the light of a celestial exceptionalism. They occupy the center of a universe anointed by the invisible hand of free market capitalism, governed and sanctified by the benevolent love of their heavenly father, Jesus Christ.
Their values are based on a fundamentalist foundation of the King James Bible and the US Constitution as it was originally conceived and authored by the Founding Fathers in 1787. They are resolute in the belief of the correctness of their interpretation of this hallowed literature and remain adamant in how the instruction of these sacred tomes should be applied and implemented to shape and govern our Federal Republic.
If you question the basic supposition of their position they will tarry your thrust by questioning your love of country and your belief in God. Those same questions must be asked of them. The virulent defenders of the cross and crown of liberty consistently undermine the spirit of both. They serve the corporate objectives of church, military and industrial institutions that have formed an unholy alliance to rule and exploit the hearts and minds of an enslaved consumer market that cannot discern the difference between political liberty and a have it your way experience at Burger King.
America’s political ignorance is a poverty exploited by the oligarchs; giving them full sway to control and manipulate the levers of power to secure and advance selfish interests. They cloth their motives in priestly robes, medal adorned military uniforms, Rotarian flannel suits and Joe “the wannabe” Plumber overalls feigning a martyrdom of being crushed by the menacing liberal elites by standing for the values of free markets, Christianity, class mobility and a military spreading the global march of democracy.
The GOP presidential debates provided some telling political theater of how the party of values advanced the cause of individual liberty and governance informed by moral precepts. In one session a gay officer serving in Iraq asked the candidates “now that DADT has been repealed and gay service personnel can serve in the military would they support same sex marriage”. The gay serviceman unselfishly serving his country in a theater of war was roundly booed by the uber patriots sitting in the audience before Rick Santorum piled on and asserted not only would he not sign a same sex marriage bill into law, he would also reinstate DADT.
In another session the question concerning the mandatory requirement to purchase health care insurance was raised. The moderator asked a hypothetical question, “if a person failed to purchase insurance and required a life saving procedure who should pay?” One of the more compassionate conservatives shouted “let him die”. This was undoubtedly the same guy who condemned Jesus for healing on the Sabbath.
Another high water mark of GOP moral turpitude occurred when the debate moderator questioned Rick Perry about the State of Texas position as the leader in capital punishment executions. The audience erupted in cheers. The United States is home to the worlds largest penal colony with an inmate population that exceeds 2,000,000. This belies the myth of the United States as the land of the free; particularly for the people of color who account for the largest proportion of the inmate population. This is good news for the free marketeers as the privatization of prisons is a growth industry. The profiteers of misery require the judicial apparatus of the states to maintain a prison occupancy rate of 90% to assure profitability for private investors. The threat to a fair trial has never been more at risk. This is a business opportunity right up the GOPs free market alley. The devaluation of the rule of law an unfortunate consequence. The value of money trumps the grace of justice.
The GOP’s deep investment in the culture of death mirrors a country thoroughly committed to the continued militarization of the economy regardless of its cultural cost. Republicans eagerly beat the drums of war and use the poetry of destruction to articulate a cutesy point. Remember John McCain using the melody of Barbara Anne to sing, “bomb, bomb, bomb, bomb Iran” The neocons ate it up. The peacemaker may be considered children of God, but in the GOP the business of war and righteous crusades are divine.
Republicans pledge undying fealty to the Constitution and the rights of citizens. One would think that this would encourage vocal opposition to President Obama’s Executive Order to execute suspected combatant citizens without due process in respect to the right of a trial by a jury of their peers. Not a single word has been raised against this grievous violation of a basic constitutional protection. Where are all the freedom loving, constitution waving Teabaggers? It’s a natural extension of Republican’s refusal to recognize the full civil rights of citizens. As in the case of LGBT civil rights, the GOP’s vision of America protects civil liberties only for select citizens they deem worthy. The rights of the republic’s citizens and the rule of law be damned.
It is in this light that we can understand Rush Limbaugh’s misogynistic characterization of Sandra Fluke as a slut. Dehumanizing a group of people as “the other” or “less then” because they hold a contrary position is a dangerous sedition that undermines democracy.
Democracies need its citizens to reach an informed consensus to function. Consensus requires dialog to assimilate disparate views from multiple viewpoints and perspectives. This presupposes that the participants in the discussion recognize and value the rights of citizenship for all participants in the dialog. The highest value in a secular democracy is respecting the equal rights of all citizens. Without this value democracies crumble. Our democracy is in shambles.
This weekend Rick Santorum sat upon the alter at the Greenwell Baptist Church to accept the endorsement of Pastor Dennis Terry for the upcoming Louisiana primary. After laying his hands on Santorum to bless his candidacy, Pastor Terry delivered a sermon that spewed fire and brimstone onto the reprobate head of our secular democracy. “America” he said “was a Christian Nation ruled by Christ the King. He said American’s don’t worship Buddha, Allah or any other false Gods. He said American’s worshiped the God on High, Jesus Christ. And if they don’t like it they can get out.” As a Christian I can’t tell you how much I loathe this blatant bigotry. Jesus was all about inclusion and tolerance and I’m sure he would make short work of this Pharisee. As an American citizen, I can’t think of a more ignorant and damaging characterization of America’s promise and the democratic values it professes to uphold.
GOP wunderkind Paul Ryan, yesterday unveiled a budget that assiduously accounts for the price of every tax loop hole, generous corporate welfare allocation and tax reduction for the wealthy while demonstrating a chilling indifference for slashed social programs and its impact on human beings. Republican’s know the price of everything and the value of nothing. The party of values is thoroughly bankrupt.
Music Selection: Sen. John McCain, Bomb, Bomb, Bomb, Bomb Iran
When Joe Wilson belched his infamous catcall “lair” during President Obama’s address to a joint session of the legislature, he revealed himself to be a poor example of a mature adult. Puddenhead Wilson’s emotional outburst may have played well with die hard Obama haters, indeed the next day his campaign war chest swelled by a million dollars; but it also sent a terrible message to America’s youth that its acceptable to disrespect your teachers, coaches, police officers or parents if you disagree with what they are saying. The fact that his campaign coffers swelled with contributions as a result of his offense compounded the power of the negative message it sent to youths and to the perpetrator himself. Awarding Puddenhead Wilson for his bad conduct only encourages him to repeat his offensive disrespectful behavior. It also sends a very poor message to America’s youth that bad behavior is OK and childish emotional outbursts may in fact find reward from enabling adults.
New Jersey Governor and emerging GOP superstar Chris Cristie, recently revealed himself to be a poor role model for the youth of America when he told a gathering of students that teachers greed was to blame for the lack of supplies and educational resources available for public schools. The Governors injection of politics into his presentation to Trenton students is a bit ironic. In his crusade against the teachers union, Christie has charged educators with using school children as “drug mules” to carry the message about the danger of funding reductions for public education. It would seem that the good Governor Christie needs to deliver a couple of kilos of his own to his adoring fans in the Tea Party and his financial backers in the GOP.
Putting partisan politics aside Christie’s message to public school students is extremely damaging. The public schools are under incredible pressure. All social institutions are engulfed in severe challenges and are fully engaged in crisis management mode. America’s public schools are not exempted from these pressures. The complex confluence of political, cultural and economic factors plaguing society are acutely manifested and constantly working to undermine the public school system. Governor Christie’s political rant to students throws gasoline on a combustible pile of institutional challenges confronting teachers and administrators. Like Puddenhead Wilson, the Jersey Doughboy gives tacit approval and encouragement for students to question the authority and motives of their teachers. Christie has just provided under-performing students a ready made excuse for failure and disruptive malcontents a lit match to throw onto a gasoline soaked pile of kindling encircling our public schools.
Christie’s partisanship places the context of his egregious mismanagement of the Race to the Top DOE grant in a new light. Perhaps Christie’s $400 million blunder was an intentional action to reduce resources to the public schools to undermine greedy teachers and their gluttonous union. Why would Christie enable the funding of whip cracking greed driven drug mule drivers? And like his killing of the DOT funded ARC tunnel project, Christie enhances his conservative street cred by punching the construction unions in the nose and telling the socialist government in Washington to spend its money elsewhere.
Like Puddenhead Wilson, Christie is cashing in on his actions and is building a nice portfolio of economic and political capital for himself. His remarks about the greedy teachers provide a convenient cover and solemn absolution for the grand practitioners of greed and avarice that have led this country to the brink of fiscal insolvency, cultural destitution and political bankruptcy. Christie’s narrative of blaming the needy plays well with large contributors who will be moved to put good 527 Corporation resources at his disposal to underwrite his political rise.
Christie’s midterm election barnstorming tour in service to the GOP booked him on a coast to coast tour that even his hero Bruce Springsteen would envy. Though Christie’s mojo clearly failed in helping Meg Whitman and Carly Fiorina win election, the Jersey Doughboy’s political stock has risen so quickly that he felt compelled to send out a few tweets to deny he would run on a ticket with Sarah Palin for president in 2012.
So New Jersey is stuck with the doughy mess of big money winner take all partisan politics of Christie’s ideologically driven governorship for at least the next two years. Enjoying popular support for now, Christie’s considerable body mass currently displaces enough water to ride the wave of Tea Party conservatism. But if the fickle citizens of New Jersey make a slight left turn off Exit 16E on Thunder Road, Christie’s fortunes will drop faster then a lead sinker placed into the rancid brew seeping to perfection in a gaudy Royal Dalton Tea Pot.
You Tube Music Video: Bruce Springsteen, Born to Run (Live Acoustic Version)
Risk: political, labor unions, public education, consensus
Michelle Bachmann recently advanced the idea that the new congress needs to go to Washington with a hand full of subpoenas to fully uncover and punish the criminal behavior of the Obama Administration. Why does she want to do this? Why does the Chairwoman of the Republican Tea Party Caucus think this is a good idea?
During President Clinton’s second term the GOP’s extreme partisanship led to impeachment proceedings and severely hampered the effectiveness of our government and its Chief Executive. This distraction may have made some political hay for Republicans but crippled our Chief Executive’s ability to focus on and deal with the growing terror threat Al-Qaeda was preparing to launch against our country. The GOP’s actions provided support, aid, cover and comfort to the terrorists and heightened our country’s vulnerability to attack. Perhaps we should investigate their activities and motives for effectively becoming a Fifth Column for the Evil Doers?
Earlier in the year, Ms. Bachmann’s suggested to Chris Matthews that we should investigate the UnAmerican activities of congress and senate members to root out and expose those who hate America and are actively working for its destruction. I’m not so sure about this; it may lead to the mass imprisonment of the Republicans who obstructed President Clinton’s ability to perform his duties as Commander and Chief. With the GOP gone it would be impossible to form a consensus to effectively govern the nation so I’m kinda lukewarm on this one. After all President Obama and the ruling democrats rely on the good will of the loyal opposition GOP party to show the country that democracy works and that we can all get along.
But because I don’t think Ms. Bachmann’s idea is a good one doesn’t make it bad. After all I’m coming from a pretty partisan place myself. So in the spirit of consensus building I’m trying to understand why she would propose such a thing. Though its a dangerous and scary place to visit, I have tried to get inside Ms. Bachmann’s mind to understand her reasoning why she thinks the congress should spend the next session investigating members for crimes against the republic.
I have comprised a list of 13 reasons as to why Michele Bachmann and the Tea Party may think this is a good idea for the country. Please feel free to add your own.
1. Because its fun to shut the Federal Government down (ask Newt Gingrich)
2. It will heighten partisanship to levels yet unseen
3. Obstructionism is their preferred style of governance
4. Dissent is dangerous to a democracy
(America is long over due for another round of McCarthyism)
5. Enemy combatants sitting in congress must be imprisoned
6. It will demonstrate reactionary street cred
7. Sean Hannity thinks its a good idea
8. Rush Limbaugh thinks its a great idea
9. Glenn Beck tearfully pleads to show no quarter to “Wilsonian Reprobates”
10. Compromise/consensus forming is for sissies
11. Its how Michele Bachmann Mans Up and shows her pair
12. It plays well on Talk Radio and to the rabid dogs in the TP howling for fresh meat
13. 2012 GOP can say we did our best under trying circumstances now give us the White House and Senate. We’ll finish the job. Rove calls it the Coup de Grace campaign. A final silver bullet to the head of the democrats, democratic consensus and Federalism paid and financed by serious 527 money.
You Tube Video: Edvard Grieg, In the Hall of the Mountain King
Risk: consensus, governance, democracy
What a difference a year makes. A year ago the banks came crawling to Washington begging for a massive capital infusion to avoid an Armageddon of the global financial system. They sent out an urgent SOS for a $750 billion life preserver of tax payers money to keep the banking system liquid. Our country’s chief bursar Hank Paulson, designed a craft that would help the banks remain afloat. Into the market maelstrom Mr. Paulson launched the USS TARP as the vehicle to save our distressed ship of state. The TARP would prove itself to be our arc of national economic salvation. The success of the TARP has allowed the banks to generate profits in one of the most prolific turnarounds since Rocky Balboa’s heartbreaking split decision loss to Apollo Creed. Some of the banks have repaid the TARP loans to the Fed. Now as Christmas approaches and this incredible year closes bankers have visions of sugar plum fairies dancing in their heads as they dream about how they will spend this years bonus payments based on record breaking profitability. President Obama wants the banks to show some love and return the favor by sharing more of their balance sheets by lending money to small and mid-size enterprises (SME).
Yesterday President Obama held a banking summit in Washington DC. Mr. Obama wanted to use the occasion to shame the “fat cat bankers” to expand their lending activities to SMEs. A few of the bigger cats were no shows. They got fogged in at Kennedy Airport. They called in to attend the summit by phone. Clearly shame was not the correct motivational devise to encourage the bankers to begin lending to SMEs. Perhaps the President should have appealed to the bankers sense of patriotism; because now is the time that all good bankers must come to the aid of their country. Failing that, perhaps Mr. Obama should make a business case that SME lending is good for profits. A vibrant SME sector is a powerful driver for wealth creation and economic recovery. A beneficial and perhaps unintended consequence of this endeavor is the economic security and political stability of the nation. These are the worthy concerns of all true patriots and form a common ground where bankers and government can engage the issues that undermine our national security.
The President had a full agenda to cover with the bank executives. Executive compensation, residential mortgage defaults, TARP repayment plans, bank capitalization and small business lending were some of the key topics. Mr. Obama was intent on chastising the reprobate bankers about their penny pinching credit policies toward small businesses. Mr. Obama conveyed to bankers that the country was still confronted with major economic problems. Now that the banks capital base has been stabilized with Treasury supplied funding they must get some skin into the game and belly up to the bar by making more loans to SMEs.
According to the FDIC, lending by U.S. banks fell by 2.8 percent in the third quarter. This is the largest drop since 1984 and the fifth consecutive quarter in which banks have reduced lending. The decline in lending is a serious barrier to economic recovery. Banks reduced the amount of money extended to their customers by $210.4 billion between July and September, cutting back in almost every category, from mortgage lending to funding for corporations. The TARP was intended to spur new lending and the FDIC observed that the largest recipients of aid were responsible for a disproportionate share of the decline in lending. FDIC Chairman Sheila C. Bair stated, “We need to see banks making more loans to their business customers.”
The withdrawal of $210 billion in credit from the market is a major impediment for economic growth. The trend to delever credit exposures is a consequence of the credit bubble and is a sign of prudent management of credit risk. But the reduction of lending activity impedes economic activity and poses barriers to SME capital formation. If the third quarter reduction in credit withdrawal were annualized the amount of capital removed from the credit markets is about 7% of GDP. This coupled with the declining business revenues due to recession creates a huge headwind for SMEs. It is believed that 14% of SMEs are in distress and without expanded access to credit, defaults and bankruptcies will continue to rise. Massive business failures by SMEs shrinks market opportunities for banks and threatens their financial health and long term sustainability.
The number one reason why financial institutions turn down a SME for business loans is due to risk assessment. A bank will look at a number of factors to determine how likely a business will or will not be able to return the money it has borrowed.
SME business managers must conduct a thorough risk assessment if it wishes to attract loan capital from banks. Uncovering the risks and opportunities associated with products and markets, business functions, macroeconomic risks and understanding the critical success factors and measurements that create competitive advantage are cornerstones of effective risk management. Bankers need assurances that managers understand the market dynamics and risk factors present in their business and how they will be managed to repay credit providers. Bankers need confidence that managers have identified the key initiatives that maintain profitability. Bankers will gladly extend credit to SMEs that can validate that credit capital is being deployed effectively by astute managers. Bankers will approve loans when they are confident that SME managers are making prudent capital allocation decisions that are based on a diligent risk/reward assessment.
Sum2 offers products that combine qualitative risk assessment applications with Z-Score quantitative metrics to assess the risk profile and financial health of SMEs. The Profit|Optimizer calibrates qualitative and quantitative risk scoring tools; placing a powerful business management tool into the hands of SME managers. SME managers can demonstrate to bankers that their requests for credit capital is based on a thorough risk assessment and opportunity discovery exercise and will be effective stewards of loan capital.
On a macro level SME managers must vastly improve their risk management and corporate governance cultures to attract the credit capital of banks. Using programs like the Profit|Optimizer, SME’s can position themselves to participate in credit markets with the full faith of friendly bankers. SME lending is a critical pillar to a sustained economic recovery and stability of our banking system. Now is the time for all bankers to come to the aid of their country by opening up credit channels to SMEs to restore economic growth and the wealth of our nation.
You Tube Music Video: Bruce Springsteen, Seeger Sessions, Pay Me My Money Down
Risk: banking, credit, SME