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12 comments:
Wow Mark, you sure do stoop to make disparaging remarks about large groups of people based on nothing. Because someone who is not too bright made a silly comment (one that no one can even verify if it is real; given the way things are staged these days, I am suspect of things that are stated without substantiation), you can make a statement that "Fox News is not good for the mind"?
By that token, since there are numerous grammatical errors in your post from yesterday, I can conclude what? Any art gallery owner is illiterate? Any Democrat is incapable of writing?
It doesn't follow, does it. That is what is known as a non sequitur. Non sequiturs are fallacies, which means the argument is not logical.
Why would you make such a generalization based on one silly comment? What point does it further?
I'd be far more concerned with:
1. Mr. Williams' employer selling goods to Iran.
2. Or his employer being an adviser to the President Obama.
3. Or that Williams' employer cashed in on that connection to get TARP money for his failing company. That's right, $8 billion in tax dollars have gone to GE. Our federal government is guaranteeing another $340 billion of GE's debt.
Yeah, that was Bush's fault and Fox News is bad for the mind. Any way we can tie Lou Magazzu or Millville First into this?
Oh RDOwens, I think you took Mark's bait!
I totally found the humor in Mark's headline title and in NBC's jab at Fox News (they could have easily left that last line of the viewer's email off, but they didn't, and thats very funny). Fox and NBC like to go back and forth like this. It is kind of like watching tennis.
By the way, I never done reed grammer or speling erors to Marks' posts.
Lastly, you are wrong about GE and TARP and you misread the article about $8 billion. GE did not participate in TARP. GE participates in the Temporary Liquidity Guarantee Program. The program has resulted in fees from GE *to* the government, not fees *from* the government to GE. TLGP has been an $8 billion money maker for FDIC (not GE), although it does represent risk to FDIC (and you and me) if the loans are defaulted on.
Something that FOX or CNBC probably wouldn't tell you but you might also want to know is that the rules of the Temporary Liquidity Guarantee Program, under which GE Capital qualified for loan guarantees, were established by the FDIC under the watch of Bush administration (and subject to lobbying by GE!), and some of the looseness is now being cleaned up. The Obama administration may soon propose that GE Capital be considered a Tier 1 financial holding company (subject to the regulations of Tier 1 FHCs). This would force GE Capital to be split from GE into a separate bank holding company, which GE does not want, because the regulatory capital requirements will make it less profitable. Maybe GE will weasel out of it (I wouldn't put it past them).
The government has been trying to get banks off of TLGP, but GE Capital has been a big user of the program. Arguably, they don't need it. They are using it to borrow at low interest rates. I say, cut them off.
[my small business is a very small customer of GE Capital through Apple Final Services].
You are correct I misread the $8 billion. My apologies. GE has loans guaranteed by tax payers. TLGP is part of TARP. GE would not be able to get this deal if:
1. TARP did not exist
2. Immelt was not cozy with Oba,a
I find nothing funny about the video. Bait? Perhaps. It is typical of the tactics Mark and others use locally. Political discourse doesn't occur with baiting, which I am not convinced this is. It is certainly easier to ask for forgiveness after the fact, isn't it?
Leave Fox alone! It's the unoficial mouthpiece for the GOP- and family values. Now I'm not talkin' about that guy who played with that other guy in the public toilet, or Sanford, or Ensign...or that vocal opponent of Clinton, the guy with the love child whom he referred to as "the boy". I'm talkin' about your average hardworkin' american who won't cowtow to that muslim who's trying to lull us into complacency by propping up the banks and the auto industry.
PALIN IN 2012!!!!! The WHite HOuse will be just that again. We want platitudes that we can cling to, not intellectual curiosity and book learners.
Now I'm going to enyoy some fruit just in from CHile and Brazil. It's a lot cheaper than what they sell on that farm down the road.
@RDOwens
Sorry, but you are wrong again on the details:
1) TLGP is *not* part of TARP. Period. TARP is a Treasury program. TLGP is an FDIC program. The programs are separate. The funding is separate. You are right that GE has loans guaranteed by you and me, but it is absolutely not part of TARP.
2) GE Capital got this very sweet deal *without* the help of Obama (in fact, it predates Obama's presidency).
You are right that GE has an inside track, but it is not Immelt's access to Obama and it is not Obama and it is not Bush, it is a long standing and ingrained condition in Washington. It has prevailed for decades, and it will outlast Obama and the president after that, and so on. The names change, but the situation doesn't.
Case in point: GE *did* apply their lobbying heft to FDIC (chaired by a Bush appointee who I think is great) during the Bush administration to get the original TLGP modified so that GE Capital could use TLGP. Typical Washington crap.
More Washington crap: GE Capital (real estate group, I think) is one of the accepted bidders in the Public-Private Investment Program for Legacy Assets, which means they possibly stand to benefit from buying loans on the cheap with TARP taking the writedown and FDIC guaranteeing the newly sold loans. This under the Bush-appointed FDIC chair and the Obama Treasury department.
I think you are absolutely right to look with suspicion at GE's relationship with the US Government, but I strongly disagree that it is a function of any single relationship. It is more salacious for the talk shows & blogs to blame one guy or one company (Obama, Bush, Clinton, GE, Haliburton, Carlye, ...). It is, unfortunately, far more insidious than that. It is depressing if you think about it alot.
Alot of the talk shows (and "news" shows) and blogs have gotten the facts wrong on this. I have found that the Wall Street Journal has been a good source of correct facts about this whole financial mess (despite their ownership -- just ignore the Op-Ed pages and you'll be fine). It is expensive to subscribe buy you can read it at the library for free.
But he's a muslim, and the chosen one in league with evil doers, according to prophesy...at least that's the consensus down here in Cumberland County. Could you reduce what you said to a few catchy phrases?
I'll back away from my GE analysis as I have details wrong.
I'll get back to my original point that the original post serves no purpose to further discourse.
Perhaps Mark will clear the air publicly on the contested point.
As I said before I have a problem with Fox News and some of its hosts who make outlandish comments. It was nothing more than busting on Fox.
I am as liberal as it gets and I agree with Owens on this point. The post does nothing to further discourse. This approach is why I stopped being active over at Magazzu Watch -- the site where Magazzu does something and it is all bad but when the Millville City Commission does the same thing it is all good. Having said that, I must point out to R.D. Owens that his recent reference to former Governor Jim McGreevey (yes, he is a disgrace and someone I would never vote for) as "Gov. Sphincter" does nothing to further discourse either. It is simply a homophobic slur, period.
lease re-read the post. That comment is not about McGreevey, but rather former New York Governor Spitzer.
RD is right. My apologies.
RD's original post is as follows: "When Jim 'I’m a Gay American' McGreevey came out, Dina was by his side. Gov. Sphincter had his spouse beside him when he stepped down. Hillary stood by her man in the famous CBS interview during the 1992 campaign. It appears that is the political play as politician after politician has an affair."
In my defense, one might understand why I misconstrued what you wrote, since you did not clearly identify who "Gov. Sphincter" was...but, based on another post on your blog, you have pegged Spitzer as "Governor Sphincter" and I know why this was done (no need for futher details).
So, no homophobic slur by Owens. Therefore, I simply agree with him period.
Oh for goodness sake. It's a blog. Not a town hall debate
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