Archive for October, 2009

Keep ‘Em In The Kitchen

Wednesday, October 14th, 2009

AIG paid a retention bonus to a kitchen assistant!!!

Apparently the need to slice and dice extended well beyond credit default swaps, while fundamental contempt for the taxpayer remains the blue plate special.

Now that the government owns 85% of AIG, it’s trying, without much success, to limit bonuses and claw back those paid out during the halcyon days of bankrupting the firm.

Gorilla isn’t very hungry: “Perception is 90% of the meal. We still don’t know how many spoons are missing, let alone what they’re worth!”

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Ask The Pope

Wednesday, October 14th, 2009

The next time some Catholic bishop or Know Nothing Party activist tells you that abortion and improved access to contraception are wrong, ask them:

And killing 70,000 women and maiming millions more is right?

What’s behind their morality is misogyny, pure and simple.

These amoral arbiters of morality don’t want women to control their own bodies, much less their own lives.

Their attitude is deeply insulting to anyone with a brain.

Hopefully, the coming generations will recognize this evil for what it is, and we’ll hear no more from them ever again.

Gorilla thinks: “The German Shepherd needs a good muzzle!”

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Dying To Eat

Wednesday, October 14th, 2009

More than a billion people around the world are undernourished.

A World Of Hunger

Most are in Africa and Asia, and the numbers are growing as the economic downturn continues.

More food aid would of course help, but even more important long-term is the empowerment of women. Women always do a better job at conserving scarce resources.

Gorilla says: “You can help by insisting on equality and by fighting every step of the way the easy lapse of civilization into misogyny!”

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The al-Qaeda Telethon

Tuesday, October 13th, 2009

al-Qaeda’s not got as much cash as it used to, according to the US Treasury.

Several fundraising appeals have been made this year. The Taliban’s apparently doing better, mainly because they have direct access to the narcotics trade.

What isn’t mentioned in the Treasury report, of course, are the trillions of dollars being spent by the US in Iraq and Afghanistan to rid the planet of these very small time outfits. So far, all that cash hasn’t had much effect on either al-Qaeda or the Taliban.

You don’t need much money to unleash havoc, as we know from our experiences in Goingbackwardville. 9/11 likely cost less than a million dollars to plan and execute. The Madrid and London bombings cost a few thousand each.

One might conclude therefore that it’s a waste of time and resources for the Pentagon to be leading the anti-terror campaign, when economic development in backward lands, combined with better law enforcement and intelligence gathering at home and abroad, could do the job at least as ineffectively for far less moolah.

But that’s not a debate anyone in Movingforwardville wants to have, much better for the Treasury to claim they’ve succeeded in reducing financial resources for insurgent and terrorist groups. Victory is mine, sayeth the Geithner!

Gorilla says: “If only we’d gotten Wells Fargo to do Option ARMS in Afghanistan and Pakistan, we’d have wiped these guys out by now!”

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Mods Cons

Tuesday, October 13th, 2009

The Administration has reached its goal of 500,000 mortgage loan modifications ahead of schedule!

But how many of the loan mods will be permanent, rather than the extend and pretend approach the banks have used so far?

As of September 1, a total of 1,711 permanent modifications have been achieved, not exactly a triumph in a land where 4-7 million more foreclosures await.

So, if Geithner et. al. are now having more success in getting loan mods, we should see the number of permanent mods skyrocket.

If not, we should see the Congress revisiting cramdown.

Gorilla is not convinced: “Don’t hold your breath, mods cons feature in a lot of empty houses, including the two in Congress!”

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Capture Rapture

Tuesday, October 13th, 2009

Ah, carbon capturing, another dream to stop climate change sometime somewhere in the somewhat distant future!!!

It’s all about “clean coal” plants that can capture carbon. So far, the technology hasn’t developed and the costs have gone sky high. The Europeans, who’ve spent far more on this than we have, have scaled back their own timetable for these plants.

But that hasn’t stopped the Administration from promising to have commercially viable plants ready to go by 2019.

Energy Secretary Chu says the US wants to demonstrate it is serious about climate change before Copenhagen.

Of course, if it was really serious, the Administration would slap a very large consumption tax on coal and other fossil fuels, making alternative energy sources economically viable.

But that requires leadership, and that’s not something the US has in abundance at the moment.

So the green rhetoric continues and the green action goes nowhere.

Gorilla says: “Let’s capture the hypocrisy by 2019 and see if we can use it to run our coal plants into the ground!”

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Dancing With The Bear

Tuesday, October 13th, 2009

Hillary Clinton’s in Moscow, and has decided that the time has not yet come for further sanctions on Iran.

The Russians are being a bit more cooperative, at least on bilateral issues like missile defense and nuclear arms reduction, and have made it clear they’re not ready for more sanctions until there’s more diplomacy. The Chinese feel the same way.

All of this is good news, because we appear at last to be heading towards a bilateral deal with Iran. It will take time, it will not be easy, but it’s the only sensible way forward. America has more important issues than whether a non-nuclear, fifth-rate regional power stands in the way of our gradual withdrawl from the other two fifth-rate, non-nuclear regional powers: Iraq and Afghanistan.

Gorilla thinks: “Hillary knows that dancing with the bear is a lot better than being voted onto the island!”

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Taxing The Cadillac

Tuesday, October 13th, 2009

Health care reform? Surely you jest!

This week’s snafu is about taxing so-called Cadillac plans, that is those that cost families and/or employers more than $20,000/year.

It’s a good way to raise money to pay for reform, and it’s a good way to discourage insurance companies from offering expensive plans.

But it’s not popular with labor unions, Know Nothing anti-taxers, and some House Democrats.

What this shows, yet again, is the stupidity of the link between employment and health insurance. Employers get big tax breaks for offering the insurance, while employees are shielded from the true cost of health care.

Rather than simply provide insurance to all, regardless of employment status, via Medicare, a far more cost effective solution, the “debate” at present is essentially about how much profit and how much cherry picking the insurance companies can get away with. It’s certainly not reform.

Gorilla says: “We taxpayers already own Cadillac, so why not take ownership of health insurance plans as well?”

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Firing Loss Leaders

Monday, October 12th, 2009

No sail for 10 days, says North Korea after firing off a few more short-range missiles.

Seems the North is worried about US aircraft carrier deployments and the announcements by the US, Japan and South Korea that they will board ships suspected to have suspicious cargo destined for Pyongyang.

Gorilla thinks: “No sail is already on sale, expect a clearance within the next 6 months!”

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Success Continues

Monday, October 12th, 2009

The Pakistani government declared success after the three-month offensive in the Swat Valley.

Oops! A massive bombing today, following on the attack on Pakistani army headquarters over the weekend.

Hopefully, the Pakistani government will recognize that the main threat to the country comes from within, first from the Taliban and al-Qaeda, and second from the Pakistani military and intelligence officers who support terrorism at home and abroad.

At some point, every nation must recognize that cheap, ineffective nationalistic chest thumping is about as much use to development and stability as testing nuclear weapons that will never be used against nonexistent regional enemies.

Gorilla thinks: “So far, the score is Taliban/al-Qaeda 1, Indo-Pakistani War 4, and America knocked for 6!”

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