"Let them fail," says Libertarian Party spokesperson Andrew Davis, referring to the mortgage institutions Freddie Mac and Fannie Mae, who the Bush administration has said it plans to rescue from financial collapse.
"Let them fail, and let them learn from their mistakes on their own dime," says Davis. "Bailing out these two institutions will only delay the inevitable outcome of any financial firm insulated from the market by government backing. The long run damage of continuing a policy of bailouts far exceeds any short term woes in letting the market consume failing institutions."
The Libertarian Party is calling for an end to government bailouts, which it equates to nothing more than welfare for businessmen. The Party believes that government support of these institutions decreases the incentive to make responsible decisions, and unfairly socializes the risk--putting taxpayers on the line for costly mistakes.
"It's like giving more candy to problem children," says Davis. "Lenders should recognize that there are repercussions for risky loans, and borrowers should realize that there are consequences for taking loans they can't repay. If it's financial collapse, or having your house foreclosed--so be it. It's bad economics to remove the incentives, even if they are negative, which encourage sensible and responsible decisions."
The Party says Freddie and Fannie should be fully independent of government support, and subject to the same levels of market competition other firms face.
"I could not agree more with the editorial page of yesterday's Financial Times when it said that the current structure of these institutions cannot be maintained, and that government should prepare a 'decent burial' for them," says Libertarian Party National Chairman William Redpath. "Freddie and Fannie are not needed for mortgage finance in the United States. No credible commentator thinks that the failure of these two institutions would add even as much as one percentage point over the long-term to mortgage rates. Congress and the President need to quickly move Fannie and Freddie to privatization with no strings attached to the federal government and taxpayer."
When I tell people in meatspace conversations that I’m opposed to drug prohibition, I frequently get a look of utter astonishment: “You mean people ought to just be able to take crack, or meth, or whatever, whenever they feel like it?”
Well, the point is they can already do that right now. If you look at countries like the Netherlands, where pot is for all intents and purposes legal, and private possession and use of the hard stuff is virtually decriminalized, the actual rates of drug use are probably at or below those in the United States.
So essentially, we’ve allowed our country to be taken over by gangs and organized crime syndicates fighting to control the black markets in illegal drugs. We’ve created lawless, militarized police forces that view us as an occupied enemy, sadistic bastards who taser people in diabetic comas to death for “resisting arrest,” and murder 92-year-old women in their sleep in botched SWAT team raids. We’ve gutted the due process provisions of the Fourth, Fifth, and Sixth Amendments, which are now kept around mainly as examples of good penmanship. We’ve got the highest rate of incarceration in the entire world–greater than Communist China–and a massive prison-industrial complex using slave labor. We are literally at the mercy of beasts of prey in SS chic uniforms. We’ve corrupted our society to the core. And we’ve done it all for nothing.
The corruption of our society includes turning the cops themselves into the biggest criminal gangs of all, under the corrupting influence of all that drug money. Only the cops’ approach to gang warfare involves building a petty empire of planted evidence, jailhouse snitches, entrapment, plea extortion, and civil forfeiture.
The biggest fans of Prohibition were the bootleggers–probably even more than the Baptists, who served as their useful idiots.
Today, most people would probably be amazed at how much of the leading “drug warrior” politicians’ campaign funds consist of laundered money from the drug cartels. As Larry Gambone says,
The point has to be made that whether the figure is $100 billion or $400 billion it is a lot of money and the gangs cannot account for more than a fraction of it. The rest has to be somewhere else and the most likely set of suspects are the people who are already handling billions of dollars such as the offshore money laundries connected to “legitimate” financial institutions or the folks who already have a history of involvement in high-level drug trafficking, namely the CIA….
….The people most vociferous in their support for the so-called War on Drugs are the people, or are associates of the people, who profit from the drug trade at the higher levels.
One thing the illegal drug trade is good for is raising lots and lots of cash. And the biggest organized criminals of them all are probably the shadow warriors of the CIA, using the international drug trade to raise money for criminals and terrorists in the employ of the United States government.
Is Chicago's crime problem caused by the modern day Prohibition? Is it street gangs fighting it out for drug turf?
Then Chicago I can offer a suggestion that will reduce your crime and violence by well over 50%. Interested? I am a retired police officer and member of Law Enforcement Against Prohibition (www.leap.cc) and we believe that legalizing drugs, implementing a system of regulation and control is a far more moral way to fight drug than incarceration. But to regulate anything it must be legal. So, legalize drugs and put the modern day Al Capones out of business overnight. Then the police will be able to confront and control the regular crime. It will save the city millions of dollars in costs too and then Chicago might be able to build a few parks and recreation centers to help keep the kids out of trouble. Just a thought but you might want to think about it.
Quote by velveeta jones:
On the other hand, do you really want your Federal, State and City government making tax money off the illness' of people? Not to mention corporations!
Quote by trojanrabbit:
Good morning all.
Just taking a short break at work while the air conditioner in this test chamber recovers itself. One nice thing about working today is that while it's going to be 95+ outside and it's normally very damp and stuffy in the building on the weekends, in this little room it's 68 degrees and nice and dry.So, I'm gonna stay cool....
I'm doing static discharge testing today so the room has to be kept within close humidity limits, but every once in a while this air conditioner freaks out and the humidity zooms up, so I have to turn it off for a few minutes, then turn it back on. The smallest unit they could get is still too large for this room. I get to be here tomorrow as well - plenty of OT this week.
Well, we've already got the government making money off a habit that kills - cigarettes, but only because certain states make a bundle providing the stuff, and they make money off of other illnesses - like gambling and alcohol addictions. So we add substances like pot to the mix.....shrug
As George Carlin would say - "Beer leads to heroin, that's a fact. In fact, mother's milk leads to everything"
I hate to advocate drugs, alcohol, violence, or insanity to anyone, but they've always worked for me.
~ Hunter S. Thompson
Every now and then when your life gets complicated and the weasels start closing in, the only cure is to load up on heinous chemicals and then drive like a bastard from Hollywood to Las Vegas ... with the music at top volume and at least a pint of ether.
~ Hunter S. Thompson (1939 - 2005), "Fear and Loathing in Las Vegas"
Quote by capt:Quote by trojanrabbit:
Good morning all.
Just taking a short break at work while the air conditioner in this test chamber recovers itself. One nice thing about working today is that while it's going to be 95+ outside and it's normally very damp and stuffy in the building on the weekends, in this little room it's 68 degrees and nice and dry.So, I'm gonna stay cool....
I'm doing static discharge testing today so the room has to be kept within close humidity limits, but every once in a while this air conditioner freaks out and the humidity zooms up, so I have to turn it off for a few minutes, then turn it back on. The smallest unit they could get is still too large for this room. I get to be here tomorrow as well - plenty of OT this week.
Well, we've already got the government making money off a habit that kills - cigarettes, but only because certain states make a bundle providing the stuff, and they make money off of other illnesses - like gambling and alcohol addictions. So we add substances like pot to the mix.....shrug
As George Carlin would say - "Beer leads to heroin, that's a fact. In fact, mother's milk leads to everything"
Dr Ray Stantz: You know, it just occurred to me that we really haven't had a successful test of this equipment.
Dr. Egon Spengler: I blame myself.
Dr. Peter Venkman: So do I.
Dr Ray Stantz: Well, no sense in worrying about it now.
Dr. Peter Venkman: Why worry? Each one of us is carrying an unlicensed nuclear accelerator on his back.
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Quote by livingonli:
Good morning everyone.
I have to go in at work at 2 PM today. I have two live games to AD, a Knicks Summer League game and a Liberty game so it will keep me busy. But tomorrow starts my vacation.
Quote by trojanrabbit:Quote by livingonli:
Good morning everyone.
I have to go in at work at 2 PM today. I have two live games to AD, a Knicks Summer League game and a Liberty game so it will keep me busy. But tomorrow starts my vacation.
Vacation? What's that? For me that usually coincides with unemployment.
Good morning liv.![]()
Quote by capt:
Speaking of "mothers milk" . . .
Mother's Milk of Politics Turns Sour
A BUZZFLASH GUEST CONTRIBUTION
by Bill Moyers and Michael Winship
Who doesn't like to read Moyers?
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Quote by livingonli:Quote by trojanrabbit:Quote by livingonli:
Good morning everyone.
I have to go in at work at 2 PM today. I have two live games to AD, a Knicks Summer League game and a Liberty game so it will keep me busy. But tomorrow starts my vacation.
Vacation? What's that? For me that usually coincides with unemployment.
Good morning liv.![]()
It's too bad we aren't like the Europeans where they have a minimum paid vacation requirement which in many countries is by law. I already work an erratic schedule so I enjoy my vacation. And it's only been 3 months since my last vacation when I went down to DC for our blog meet-up. I just wish I had gotten to use the hotel pool more.
Quote by Raine:
Iraqi PM backs Obama troop exit plan
Democratic presidential candidate Barack Obama's proposal that U.S. troops should leave Iraq within 16 months.
In an interview with Der Spiegel released on Saturday, Maliki said he wanted U.S. troops to withdraw from Iraq as soon as possible.
"U.S. presidential candidate Barack Obama talks about 16 months. That, we think, would be the right timeframe for a withdrawal, with the possibility of slight changes."
[...]
Asked if he supported Obama's ideas more than those of John McCain, Republican presidential hopeful, Maliki said he did not want to recommend who people should vote for.
"Whoever is thinking about the shorter term is closer to reality. Artificially extending the stay of U.S. troops would cause problems."[...]
"The Americans have found it difficult to agree on a concrete timetable for the exit because it seems like an admission of defeat to them. But it isn't," Maliki told Der Spiegel.
Quote by Raine:
Now playing ....
Have you ever seen the Rain /R.E.M![]()
Quote by capt:Quote by Raine:
Now playing ....
Have you ever seen the Rain /R.E.M![]()
Do you mean the song on this?
Quote by Random:
Random did something very stupid todays.
Quote by Random:
Random was stupid enough to think he could walk around for three hours in 90 degree weather, humidity through the roof. This compound on the fact Random is not in the best shape << >> and Random hasn't had a real walk in over 2 years.
Quote by capt:Quote by Random:
Random was stupid enough to think he could walk around for three hours in 90 degree weather, humidity through the roof. This compound on the fact Random is not in the best shape << >> and Random hasn't had a real walk in over 2 years.
Walking is good but in shorter bursts and cooler weather if possible.
I might have won the booby prize today - Someone here might know:
I just replaced my evap cooler pump - no big deal - not much $$$ but . . .
I replaced a 115v rated with a 120v rated - Not sure if it is bad. Seems to be working okay so far . . . Anybody know if I'm in trouble or am I okay?
Quote by trojanrabbit:Quote by capt:Quote by Random:
Random was stupid enough to think he could walk around for three hours in 90 degree weather, humidity through the roof. This compound on the fact Random is not in the best shape << >> and Random hasn't had a real walk in over 2 years.
Walking is good but in shorter bursts and cooler weather if possible.
I might have won the booby prize today - Someone here might know:
I just replaced my evap cooler pump - no big deal - not much $$$ but . . .
I replaced a 115v rated with a 120v rated - Not sure if it is bad. Seems to be working okay so far . . . Anybody know if I'm in trouble or am I okay?
Was it an old pump? The standard voltage quite a few years ago was 115/230 where now it's 120/240. You're probably a little better off now.
That's my WAG.
Quote by capt:
Flava-Flavin?![]()
Sometimes a website name is just a website name.
Maybe the move by a company that's worked closely with the former first lady is just what it seems: yet another step by Hillary Rodham Clinton to prepare for another run for the Senate from New York in four years. Or another run for the White House. We won't know, of course, for some time.
But that comes with the news, as reported in The Ticket early the other morning, that Clinton has urgently requested her 2008 general election supporters to approve transfer of their unusable donations for this year's presidential race over to her 2012 Senate campaign.
(And then, potentially, into a new presidential campaign fund, as she did with $10 million of her surplus 2006 Senate campaign funds).
Quote by Random:
Everyone is falling in love with "The Dark Knight"
Quote by capt:Quote by Random:
Everyone is falling in love with "The Dark Knight"
So far I haven't heard much of anything bad - seems like it will rock the summertime charts!
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Quote by Random:Quote by capt:Quote by Random:
Everyone is falling in love with "The Dark Knight"
So far I haven't heard much of anything bad - seems like it will rock the summertime charts!
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I'm sure it's a good movie, one just has to wonder if all this praise ledger is getting is cause he's dead, and the general myth around his death is he killed himself because of the role.
Quote by capt:Quote by Random:Quote by capt:Quote by Random:
Everyone is falling in love with "The Dark Knight"
So far I haven't heard much of anything bad - seems like it will rock the summertime charts!
![]()
I'm sure it's a good movie, one just has to wonder if all this praise ledger is getting is cause he's dead, and the general myth around his death is he killed himself because of the role.
We just watched "Brokeback Mountain" a week or so ago. I think his acting in that role was WAY over raved. I think the movie was good but his acting was not very noteworthy.
I'll wait to see the new one but I bet his death contributes to the buzz.
Nothing attracts a crowd like a crowd. . .
Quote by Mondobubba:
My favorite thing about Wal-Mart, the Walton family survival bunker in Bentonville. WTF?
Quote by capt:Quote by Mondobubba:
My favorite thing about Wal-Mart, the Walton family survival bunker in Bentonville. WTF?
Funniest thing is their bunker is stocked with stuff from Target!
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Quote by Random:
Random learned his lesson about canvassing for Obama...he no good at it.
Quote by capt:
Walking is good but in shorter bursts and cooler weather if possible.
I might have won the booby prize today - Someone here might know:
I just replaced my evap cooler pump - no big deal - not much $$$ but . . .
I replaced a 115v rated with a 120v rated - Not sure if it is bad. Seems to be working okay so far . . . Anybody know if I'm in trouble or am I okay?
Citing a lack of interest, the Nevada Republican Party has called off its state convention and will instead pick its delegates to the national convention by private conference call.
The state party broke up its original convention in April when supporters of Ron Paul hijacked the proceedings and tried to elect delegates for their candidate to the national GOP convention in September. Party officials tried to reconvene on July 26, but they needed a quorum of 675 and received only 300 RSVPs, according to local reports.
Quote by BobR:Quote by capt:
Walking is good but in shorter bursts and cooler weather if possible.
I might have won the booby prize today - Someone here might know:
I just replaced my evap cooler pump - no big deal - not much $$$ but . . .
I replaced a 115v rated with a 120v rated - Not sure if it is bad. Seems to be working okay so far . . . Anybody know if I'm in trouble or am I okay?
My degree is in electronics, not household electricity, but I DID stay at a Holiday Inn, so my opinion MUST be worth something... :rofl:
Anyway, I'd say a 5v difference is negligible. Your house voltage probably varies by that much over the course of a week...
Quote by Raine:Quote by Random:
Random learned his lesson about canvassing for Obama...he no good at it.
Random is my hero of the day!
Quote by Random:Quote by Raine:Quote by Random:
Random learned his lesson about canvassing for Obama...he no good at it.
Random is my hero of the day!
Why do i get that?
Quote by capt:Citing a lack of interest, the Nevada Republican Party has called off its state convention and will instead pick its delegates to the national convention by private conference call.
The state party broke up its original convention in April when supporters of Ron Paul hijacked the proceedings and tried to elect delegates for their candidate to the national GOP convention in September. Party officials tried to reconvene on July 26, but they needed a quorum of 675 and received only 300 RSVPs, according to local reports.
(WSJ via Kos)
Quote by Random:Quote by Raine:Quote by Random:
Random learned his lesson about canvassing for Obama...he no good at it.
Random is my hero of the day!
Why do i get that?
Opinion polls in the US have him only four percentage points ahead of John McCain. Over here, on the other hand, a poll last week among people who can't vote for either man found Obama trouncing McCain by a five-to-one margin.
Quote by Random:
Random didn't do much...just wander in heat and humidity. I didn't do anything...
Quote by Mondobubba:Quote by Random:
Random didn't do much...just wander in heat and humidity. I didn't do anything...
You knocked on doors, you spoke to people. You made a difference.
Quote by Random:Quote by Mondobubba:Quote by Random:
Random didn't do much...just wander in heat and humidity. I didn't do anything...
You knocked on doors, you spoke to people. You made a difference.
Random saw three people, two were voting for Obama, the third was an old white lady that shut the door as soon as she saw the Obama button.
Quote by Mondobubba:Quote by Random:
Random didn't do much...just wander in heat and humidity. I didn't do anything...
You knocked on doors, you spoke to people. You made a difference.
Quote by Random:
Random no do things...He just apathetic young person...*hides*
Quote by clintster:
1,2,3,4... I declare a YouTube war!
Can you top the one-hit wonderment that is the Vapors?
Quote by clintster:
1,2,3,4... I declare a YouTube war!
Can you top the one-hit wonderment that is the Vapors?
Quote by Mondobubba:Quote by Random:
Random no do things...He just apathetic young person...*hides*
Random! Front and center. You are the blog hero of the day, deal with it!
Quote by Raine:
Read it an Try not to pee laughing...
Quote by capt:
Quote by BobR:Quote by clintster:
1,2,3,4... I declare a YouTube war!
Can you top the one-hit wonderment that is the Vapors?
heh - we used to play that in my 80's band...
We did NOT, however, play this one-hit-wonder song:
Quote by Raine:Quote by Raine:
Read it an Try not to pee laughing...
And in related *Try not to Pee in your Pants laughing* News ... Freeper land had heads expodin' all over the place!!!
:rofl:
Quote by capt:
Quote by Mondobubba:
I see your Vapors and Dexy's and I raise you this:
Quote by Random:
Random no do things...He just apathetic young person...*hides*
Quote by Raine:Quote by Raine:
Read it an Try not to pee laughing...
And in related *Try not to Pee in your Pants laughing* News ... Freeper land had heads expodin' all over the place!!!
:rofl:
Quote by Mondobubba:
I see your Vapors and Dexy's and I raise you this:
Quote by Raine:Quote by Random:
Random no do things...He just apathetic young person...*hides*
Well fine then, keep doing what you are doing... if that is what apathy is these days with the kids and the flaven... it works for me, dude.
whatever ::: snaps gum ::: and prepares to knock on doors ASAP.
Random, Dude, if you haven't learned this one important thing about this blog... We don't blow SMOKE up ones petard. You may think you did great, and that is ok, I understand that. But you did something...
That is important.
Quote by clintster:
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I remember back in the day, MTV wouldn't play "Relax" until FGTH put out a version that showed them performing onstage while they were being mobbed by hordes of screaming girls. Seriously.
In the meantime, what's a Saturday night without a little Cure? About 3:44 shorter.
Quote by Random:
...Random has no comment...he has low self esteem this afternoon...Sorry...Random be better tomorrow...
Thank you all for the praise then.
Quote by BobR:Quote by clintster:
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I remember back in the day, MTV wouldn't play "Relax" until FGTH put out a version that showed them performing onstage while they were being mobbed by hordes of screaming girls. Seriously.
In the meantime, what's a Saturday night without a little Cure? About 3:44 shorter.
Hey! - the Cure was no one-hit-wonder! You cheated!! :punch:
Quote by BobR:Quote by Random:
...Random has no comment...he has low self esteem this afternoon...Sorry...Random be better tomorrow...
Thank you all for the praise then.
You seem to swing wildly between low self esteem and delusions of grandeur. They make medication for that... :P
Quote by clintster:
(starting to dig into my cheese stash)
Feel the power of Senior Prom!![]()
Quote by BobR:Quote by Mondobubba:
I see your Vapors and Dexy's and I raise you this:
I remember seeing them live when they were at their peak. Wow - what a freak show THAT concert was....
Okay, so I'll see your Frankie, and raise you a Men Without Hats:
Quote by clintster:
Sorry, I couldn't resist. And to make it up to you...
Quote by capt:
Quote by Mondobubba:
Behold the wonder that is the King o' Cheese (white boy rapper division)
Quote by Raine:
What about the Song that Changed Music FOREVER?
Quote by Mondobubba:
She isn't a one hit wonder, but you all had to bust out the Steinman.
Quote by clintster:Quote by Mondobubba:
Behold the wonder that is the King o' Cheese (white boy rapper division)
My God, Mondo went nucular! But for all of this song's "charms", Vanilla really oudid himself with
Quote by clintster:Quote by Mondobubba:
Behold the wonder that is the King o' Cheese (white boy rapper division)
My God, Mondo went nucular! But for all of this song's "charms", Vanilla really oudid himself with
Quote by Mondobubba:
Oh contraire! This is defcon 1, full launch on warning:
Quote by BobR:
Another fave of mine:
We got to go backstage when she played in Atlanta in the very early 80's. Thomas Dolby was her keyboard player at the time, before he went solo.
We drank their beer... :beer:
Quote by clintster:
CRAMPS! I got cramps!!! Geez, Rainer, warn somebody before you throw out something like... like... THAT.
OK, does it count if the band is fictional?
Quote by Mondobubba:
Oh contraire! This is defcon 1, full launch on warning:
Quote by BobR:Quote by Mondobubba:
Oh contraire! This is defcon 1, full launch on warning:
Sorry - Flock of Seagulls is NOT a one-hit-wonder. They also had "Space Age Love Song" (and to a lesser extent "Wishing").
You LOSE!
:lol:
Quote by capt:
Quote by clintster:
CRAMPS! I got cramps!!! Geez, Rainer, warn somebody before you throw out something like... like... THAT.
OK, does it count if the band is fictional?
Quote by clintster:
The Hoff? NOOOoooOOoOooOOOoO!!!
OK, the gloves are OFF! Eat Shat!
Quote by capt:
Quote by BobR:
OMG!!...:rofl:
YOU WIN!!!
(I think you set us up, just so you could play this...)
Quote by Mondobubba:
Murphy, Eddie.
Quote by BobR:
Clinster - I'll see your Shat, and Hobbit it...
Quote by Mondobubba:
I've not been able to find any clips from Bruce Willis from the 80s :shrug:
Quote by clintster:Quote by Mondobubba:
Murphy, Eddie.
That's Rick James, (fill in the blank). If Dick Clark hadn't had it removed, this would be the point I rolled out John Travolta singing "Let Her In" on American Bandstand. So, feel free to enjoy this alternate selection:
Quote by Mondobubba:
Clint, yep Rick James, bitch is backin' Eddie up, but it charted as Eddie Murphy, I was working at Waxie Maxie's in Aspen Hill, MD when that dropped.
Quote by livingonli:
146 posts on a Saturday? It's amazing what bad music can do.
Quote by clintster:Quote by livingonli:
146 posts on a Saturday? It's amazing what bad music can do.
Just the dust settling from the YouTube war.
99 Jahre Krieg
Liessen keinen Platz fuer Sieger
Kriegsminister gibt's nicht mehr
Und auch keine Duesenflieger
Heute zieh ich meine Runden
Seh' die Welt in Truemmern liegen
Hab' 'nen Luftballon gefunden
Denk' an Dich und lass' ihn fliegen