September « 2008 « JerseySmarts.com

Who Won the First Presidential Debate?!?

Friday, September 26th, 2008

Alright, you guys know the way this process goes every four years. There’s a debate between two candidates over a variety of issues and each campaign claims victory afterward. The media generally sides with the Democratic candidate and their claim of success while the internet becomes akin to the wild, wild West. From where I sat, it was McCain’s night on all fronts.

In terms of style and presentation, McCain is a better off-the-cuff speaker than Obama is - no questions there. This is why Obama refused the various town hall debates with McCain over the summer months. As a speaker, Obama is overly reliant on long pauses as well as “ummm,” “aaaahh,” and “ii…iii…iii,” sounds in between his statements. For those debaters out there, you know that this can sometimes be an unconscious reaction to an unclear mental state or a confusion in train of thought. Hell, I do it quite frequently while I teach! It happens and, unfortunately for Obama, I didn’t like the way he came off while saying it.

In terms of content, Obama had a great point when he said that McCain would give even greater tax breaks to the wealthy. On the flip side, McCain decimated Obama during the Iran discussion when he suggested that the American President would not sit down with the Iranian President without preconditions.

But when it got down to discussions of military strategy (not tactics, mind you), McCain trumped Obama on almost every point. I’m not saying that I agree with every single thing that McCain said, but he absolutely won the debate. To me, it seemed that Obama sometimes got caught in saying anything in order to win the immediate debate. In other words, I heard some contradictions in his speeches that I’m sure none of the media will bring up (as soon as a transcript is available, I’ll try to flesh some of this out in a future post).

In terms of actually putting policy specifics out on the table, Obama failed though this is par for his course. Obama never really speaks in specifics and that’s because he’s still trying to be all things to all people. He will do himself and his campaign a great favor when he starts laying out specifics in terms of his policy. Simply saying that everyone making $250,000 and above will have their taxes raised isn’t good enough. He has to acknowledge that the more you tax a business, the less chance that business has of hiring more employees and increasing the wages of its workers.

Oh, and did anyone notice that Obama suggested a few times throughout the night that he agreed with McCain’s stance on certain issues? McCain only said that Obama was too inexperienced or that he didn’t understand certain issues. Just something interesting that I picked up on.

There was another thing that I didn’t like (and this is really me scolding the country, not the politicians). At one point, Obama said that McCain was wrong when he supported going into Iraq and wrong about the weapons of mass destruction. Talk about a distortion of reality. First and foremost, weapons of mass destruction WERE found in Iraq! Nuclear weapons were not found, but hundreds of chemical weapons were found. These are also weapons of mass destruction! Second, let’s not forget that almost every national politician supported going into Iraq to remove Saddam Hussein in 2003. To look back five years later and say, “What a bad decision,” does nothing to put the decision in a historical perspective.

The last thing that I’ll say about the debate is that Jim Lehrer did a decent job as moderator and I enjoyed the new back-and-forth format. Jim Lehrer is one of those old school newsmen who doesn’t realize that he’s blatantly partisan while on the air, but I thought he did a good job as moderator. Now, as for Ray Suarez who had the hosting duties on PBS - that’s another story! Talk about a biased, defeatist person…

Finally, I just wanted to point out that I tried to log-on to PickensPlan.com after the debate to be a part of his online chat room or discussion or whatever it was and I couldn’t get on his site! If you’re going to spend the money on airtime to promote an online discussion, then have the bandwidth to handle the capacity! Also, while I was flipping around the television after the debate, I found it funny that both ABC News and CNN were advertising their political coverage on FOX News. Kinda funny when you think about it.

Anyway - what do you think? Who won the debate?

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Tags: American President, Barack Obama, Contradictions, Debaters, Debates, Democratic Candidate, First Presidential Debate, Flesh, Flip Side, Iranian President, Mccain, Military Strategy, Preconditions, Single Thing, Specifics, Town Hall, Train Of Thought, Ummm, Who Won The First Presidential Debate, Wild Wild West
Posted in United States Politics | No Comments »

The Bailout is Doomed

Friday, September 26th, 2008

Far be it from me to be the harbinger of bad omens, but this bailout stuff is going to fall flat on its face. Maybe not today and maybe not tomorrow, but sooner or later we’re going to look back on the bailout and be disgusted with the entire fiasco. Some observations…

Capitalism. What a country we live in, huh? You have the opportunity to do anything that you want in America. Some folks are fortunate that they are born into wealthier families and thus they have less financial pressures. Other people are born into highly religious families and they are usually happier and more content. Yet some still are born into poor families with strong family bonds and they learn the power of relationships. We have it all in America including an economy where you can either make it on your own (Bill Gates) or climb up the corporate ladder to find success. That’s what a capitalist system is based on!

But in a capitalist system, you can also fail. There are many reasons for failure, not the least of which is greed, deception, and bad decision-making. Many of the failing financial institutions were marred by these characteristics and - in a capitalist system - this will lead to failure. Whether it’s a loan officer who is closing a loan that he knows is not good for the borrower so he can make some extra income (greed), an internal manager who fudges the numbers so his bosses won’t get mad at him and his division for under-performing (deception), or a company hiring the wrong people to the wrong positions (bad decision-making) - this is what happens in our system!

And in a capitalist system when you fail - YOU FAIL. Imagine if the casinos in Atlantic City and Las Vegas gave you your money back after you blew it throughout the night. Unacceptable.

The Smell Test. I don’t know about you guys, but when I hear that the people who already proved that they are not good at running their organizations will be getting government dollars (i.e. taxpayer dollars) to bail their companies out, that pisses me off. This country was not founded on bailing out greedy scumbags with taxpayer dollars. In fact, you can make a case that taking money from taxpayers and using it for ignoble purposes is what spurred the American Revolution. What the hell am I paying taxes for? To pay the $20 million payout package of the CEO who failed at WaMu?

This bailout idea does not pass the smell test. How can you give money back to the people who squandered it? NO ONE in their right minds would do that! Would you give a murderer a gun while he’s in the courtroom? Good grief!

Consumer Debt. This one pisses me off the most. A portion of this $700 billion is supposed to go towards a housing trust fund to help bailout those mortgagees who are in over their heads. What a crock of shit this one is!

What about those people who have already lost their homes? How are they supposed to be helped from this bailout? They already lost in this game! What about those punks who knowingly went out there and bought up too much house for their income? They are to be rewarded for not living within their means?!? Well what the F is that all about!? Maybe I should go out and buy a million dollar mansion really quick since I know the taxpayers are about ready to pay it off for me.

And why are we only looking at mortgages? I heard a rumor that some of this bailout will be aimed at those with high consumer debt. So if you’ve overextended yourself with credit cards or other loans, you might not have to worry about making the payments! Do student loans fall into that category? I doubt it. What a bunch of bullshit that is??! I go out of my way to spend money on a venture that increases my knowledge and is a proven method of making society “better” (it’s a cost-benefit analysis thing) and yet I’m now being asked to spend MORE money for those who make bad decisions? Are you out of your f’ing mind?!

What if all of us who have ridiculous student loans start bitching and moaning? Will we get a bailout, too?

Artificial Timelines. Why does a bailout bill need to be reached by midnight tonight? Why does something need to be done before the markets open on Monday? This is crazy. The market will do what the market does. Do we really have to take $700 billion in taxpayer dollars and spend it on bailing out the system? NO!

This entire bailout thing is such a complete joke. There is no way to make everyone happy. The real shame, though, is that there are real people in this country who were duped into making the wrong decision and their situations are different. They are being lumped into this bailout mess and it’s not right. Those people who were out there scamming homeowners and new homeowners should be found and prosecuted to the greatest extent possible. It’s a disgrace.

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Tags: Bad Decision, Bad Omens, Bailout, Bill Gates, Capitalist System, Casinos In Atlantic City, Corporate Ladder, Extra Income, Family Bonds, Fiasco, Financial Institutions, Financial Pressures, Government Dollars, Harbinger, Loan Officer, Poor Families, Religious Families, Smell Test, Strong Family, Taxpayer Dollars
Posted in Money, Jobs, & Finances, United States Politics | 2 Comments »

WaMu CEO Gets Major Payout for Failing

Friday, September 26th, 2008

Amid all of the craziness from the last few days, it seems that not enough people are highlighting the fact the Chief Executive Officer of Washington Mutual is being given a $20 million payout. Seriously, you need to click on that link and see what type of perks this guy got for being hired as the CEO of Washington Mutual - a failed company that will be remembered as the largest bank failure in United States history (for now).

This man’s compensation is disgusting, but not uncommon. Think of all of the professional athletes who get paid millions to play games. There are people all over our society that are overpaid. The difference with this guy at WaMu, though, is that his job is to protect the investments of his investors (i.e. those who have a financial relationship with his bank). This man failed. I don’t care if he only had the job for 17 days. He failed.

And he’s getting $20 million for failing? Where can I sign up for that job?!?

Until I get that lucky, check out Jersey City Locksmith for the best locksmith service in the Garden State!

Archive for September, 2008

Who Won the First Presidential Debate?!?

The Bailout is Doomed

WaMu CEO Gets Major Payout for Failing