Barack Obama's weekly youtube address

bailouts take 2

I really don't understand our tax dollars being used to bailout private companies. However the activities of this week have made me even more furious. What drives me even crazier than even Republicans do is double standards. And we have seen a textbook example of a double standard when it came to bailouts this week.

First off we have the auto industry, who in my opinion have not been saints. However what they represent is the blue-collar segment of America in some parts of the country (I will admit that I have never even driven a GM car, and that I don't live in a part of the country that depends on the auto industry so I'm really not aware first hand of the economy's dependence on the auto industry). And the auto industry was told to come back when they have a concrete plan on what to do with the money. That sounds fine if you stand it by itself. And they've done some budget cutting when it comes to high paid avertising (they cut out the Tiger Woods endorsement)

However this was not an isolated incident. Just days after the auto industry fiasco happens Citibank comes and asks for a bailout. They're handed a blank check from Uncle Sam. However they represent a white-collar crowd that is not the bread and butter of an entire region of the country. And were THEY even asked twice about what to do with the money? Of course not. And when it comes to the high profile and pricey sports endorsemetns, well Citibank is still paying 400 MILLION to name the new Shea Stadium (even though I am a Yankees fan, I do respect the cross town rivals and HATE corproate stadium names, so I will continue to call it Shea Stadium). And guess who is paying for the naming of Shea Stadium? That's right it's you and me.

So tell me why Citibank can ask for a blank check and get it but GM needs to have a concrete plan?

Obama's cabinet so far

Ok both Keith and Rachel were talking about how some of Obama's cabinet picks are not pleasing the left-wing bloggers and Obama's base. I consider myself a left-wing blogger (after all, you're not exactly reading Faux News approved material) and part of Obama's base. And I'm not furious with his cabinet announcements. I even expected him to keep a few Bush positions in office. I had cabinet picks in my head awhile ago (early summer), but so far none of mine have been right. I'm still holding out for Al Gore to head the EPA but realistically I don't see that happening.

I look at it like this. A cabinet is a team. Not all the appointments will be perfect, but they have to do a job for their boss, who will be Obama. No company I've worked for has ever had a perfect staff either. And given Obama's previous experiences, I think that he would fire anyone who's job he strongly disapproves of.

Another problem is that people are expecting a massive change. Yes Obama did campaign on change, and yes we will get that. However he does want experience around him too, and most Democrats with federal-level experience in the executive branch did serve in the Clinton years. Well if Obama returns us to the Clinton years, that would not be so bad either. Last time I checked, we did well in those years. I only wish I was old enough to reap the benefits of a Clinton economy.

Change WILL come, but not overnight.

I think this picture (from September) sums it up perfectly


see Sarah Palin pictures

President-elect Obama's weekly address

Government bailouts

First the banking/investment/insurance industry got a HUGE one on our dime, and now the auto industry wants one.

I was not very happy with the banking industry bailout, and now Detroit wants one. I can see both sides of this because if either industry fails, we are screwed (not that we aren't already). If I were in charge of this bailout business, I would put a few rules in place. If they want bailouts, they have to accept that the money will come in small installments with a lot of strings attached.

1) All of the executives of the company will be immediately terminated. There will be no bonus packages, golden parachutes, and pensions/healthcare for life. Depending on the executive's performance, he or she may have to surrender some of the compensation that they previously received on the job. And executive privileges such as corporate jets with gold-plated toilets will be sold, with the money helping otu the company.
2) New executives will be hired at a rate of 10x the average employee's salary. Bonuses can be awarded based on performance but not for at least two years.
3) If one single job is outsourced, then all remaining bailout money will be forfeited. Any money already received by the government will be paid back to them at the highest interest rate that credit card companies are allowed to charge.
4) There will be no comapny-paid fancy vacations for any employees as long as the company is receiving government money. AIG I am talking to you. Any money used to benefit any executive will be paid back to the government at the interest rate charged by the most expensive payday lender.
5) No company receiving a government bailout loan will be allowed to have a lobbyist working for them in DC or any state government for the duration of the bailout, and for at least five years after the last dime of money is paid back to Uncle Sam.
6) After 6 months, government auditors need to come in and audit the company's finances. This process will be repeated every 6 months. If the auditors find any misuse of the company's finances, the remainder of the bailout will be forfeited, and the company will have to pay back the government at the highest interest rate charged by credit cards.
7) If after one year, the company shows no improvement (such as new products in development by Detroit, or refusing to loan out the money for the banks) then the bailout money will be forfeited and paid back at credit card interest rates. If the company fails, the compay fails.

a 21st century President

who addresses the nation via online video. I'm liking this. Is it January 20 yet? Anyways here goes






On a semi-related note, I will be posting a lot of back-dated video to this blog as I want to recap some of the key moments in the campaign (Biden's VP selection, DNC, etc).

something fun

www.superobamaworld.com

I've only seen two levels so far ("for everything else, there's the RNC" and "I can see Russia from my house") and I can only beat one.

Brings me back to my childhood where the original Super Mario brothers game was out. Of course I'm as bad at this one as I was the original.