Posting opinions, letters and correspondence from far and wide. Even some to/from my elected representatives.

Thursday, December 18, 2008

Can we please name it "Garriage" and then move on?

The debates and arguments about gayness have moved forward a long way from where we were thirty, twenty or even ten years ago. Gayness certainly does not carry the widely held stigma nor the moral condemnation that it once did. Many highly religious people have reformed their own thinking about gayness. Many Churches officially support it or turn a blind moral eye to it. This is all good. I cannot think of a group of people more deserving of respect after having seen their predecessors live horribly oppressed lives.

The argument as to how people came to be gay or were born gay has also moved on. There is a large body of studies that purport to show that gay is either definitely genetic hereditary in action or certainly is at least partially a component of how gayness ended up in a gay individual's nature. Then there are those who subscribe to the idea that abuse, and more commonly, sexual abuse, leads some young people to become gay. In my opinion, both causes are possible and the question is probably best left alone to be answered by scientists, the gay person, or the gay person's counselor.

I think it is an honorable reflection on the level of maturity found in the western world today that makes it possible to be able to have these discussions, debate the science and sociology, and listen to the arguments. We can then reach our own informed conclusions and more importantly, listen to the gay people that are actually living the gay life that they do. They can integrate and keep their identities as private or public as they wish (let's not get into the U.S military policy right now).

One point of real progress worth mentioning would be that gayness is not considered by most people to be a "sickness", nor is it morally reprehensible. Those religions (both Christian fundies and Islamic radicals) that condemn gays to death, either now (some Islamic countries) or in the hereafter (some Christian fundamentalist churches) are in the minority. The famous Seinfeld episode constantly restating "not that there's anything wrong with that" comes to mind. I've known plenty of gay people, had some of them as friends, went to DCM in Sydney on gay nights, I've been proposed to by a gay, watched (probably too many) gay parades and generally feel that I, like most of us, are perfectly comfortable with gay people in our lives, if and when they inevitably show up. They live, sleep, work hard, fail, argue and hurt people as much as if not less than the average Joe. And speculating a little bit here, Joe the Plumber probably has a gay friend.

Perhaps I am not of the majority. Maybe I am wildly misjudging the western world around me. If that is the case, I can still point to the fact that the idea of "gay bashing" as being a good thing is limited to an incredibly small group of thugs. Whereas only twenty years ago it was common in many, if not most towns in America. So there has been real success in the idea that gay people are human too.

But even today, there are still some less comfortable situations that even I have to question. Would I for example, be perfectly happy if my son was gay? It is one thing to accept others as gay, quite another to have someone gay in your family. Or is it? Or as the movie "The Family Stone" so clumsily tries to convey, does a mother really think that she would "wish" her son to have been born gay? It's a great question because it asks you to fully accept gayness as totally, completely and unequivocally normal. Such a question pushes the cultural and historical envelope of acceptance to its final limit. I propose then, Gayness is - therefore - Total Normality.

But here is where I part company with my support of "Gays with an agenda". That would not, by the way, be all gays. I am referring to those gays that insist that they be given the full and total recognition that their "Marriage" is totally, 100 percent and legally binding identical to my "Marriage". You see, I support the idea of Gay Marriage but I cannot support calling it simply "Marriage".


There is but one single reason for me not wanting Gay Marriage to be called Marriage. In the same way that Gays want recognition of their marriages, I also want recognition of my marriage. My marriage is unique and what these gay activitists are asking for is to take that recognition of uniqueness away from me. Because I am heterosexually married. It is part of my identity and as long as we're in a world full of identities and politics, I want to be identified and recognised as heterosexually married. I don't want a single person on earth to be in any position of uncertainty in this matter. When I tell someone that I am "Married", I do not want that person to be left in any position of doubt as to my identity.

Gay marriage in many of the United States is recognised and known as a Civil Union. There are subtle differences in the legal meaning of the "Civil Union" in some States. I am not against Gays asking for legal rights that I have in marriage that they don't have when in a Civil Union. I support gays who want total legal recognition of their partnerships/marriages. But I just want them to use a different name for it. Civil Union doesn't cut it because on the printed page it doesn't even remotely resemble "Marriage". Civil Union also covers a wide variety of other types of cohabiting arrangements. I respect gay people that want something better than that clinical legalistic term. It has no pinache, no romance and certainly no double entandre's were ever written with that clunky phrase.

I say call it " Garriage " because "Garriage carries all of the nuance and implications of the word Marriage. It's a beautiful conjunction of the words "Gay" + "Marriage". From a legal perspective the only point of distinction between Marriage and Garriage would be that it implies a same sex couple. In all other respects Garriage would represent the full legal, romantic and cohabiting strengths (and weakness) of Marriage. It also makes it easy for the States, Towns and record keepers to keep the Marriage Certificate wording straightforward and well defined with the text "Husband" and "Wife" while also at the same time accommodate gay people who want wording text as "Him" and "Him" or, "Her" and "Her", "this" and "that".

So Gay Activists listen up. I want to give you full recognition. I want to give you full legal status. And it's simple, see below:

Gay Marriage = " Garriage "

Just let me keep my identity too, please?

Wednesday, November 26, 2008

Bringing Cultures Together - A "Hamburger with the Lot" at a time

There's something particularly enjoyable about Thanksgiving. A time where thanks is given to the wonderful bounty of America, to its freedoms, to its sacrifices (particularly of the troops who gave their own lives). For me, it is also a time to thank my family, all of 'em - wife, sons, nieces, nephews, brothers, father, mother and sister and Tessie. Without mum and dad, I wouldn't be here, nor would I know what I know, would not have seen what I've seen and would not have had a "Hamburger with the Lot". Without my own upbringing, I wouldn't know a "nong" from a "wanker". Without my brothers and sister, I would have had no allies later in life. They struggled their way forward and we all ended up bonded - even though we're separated by distances, we know we're together. Then without my adopted country, I would never have known politics had a left and a right nor would I know that the Verizano bridge towers are six inches wider at the top than at the bottom because it's that big. I wouldn't know how big a bonus can be. I wouldn't know how fast you can be promoted if you're good at at what you do. I wouldn't know what a reflected echo sounds like outside the Oyster bar in Grand Central. And I wouldn't know what three miles of old money in Greenwich looks like (a la North St). And without both countries, I wouldn't know what it's like to eat a "Hamburger with the Lot" on a Wall Street Journal instead of the Daily Telegraph.

To all of you out there, I give thanks to the most important people in my life, starting with Stella, Brandon and Max. And I also thank my family down under who brought me the "Hamburger with the Lot". On ya mate!

And I want to thank the Equadorian in deli Taste of New York City who looked at me quizzickly before dutifully doing a damn fine job putting together a burger the likes of which he had never made before. He asked me several times "you want - beets - on that?" "and you want - pineapple - on it?" "which goes on the pile first". He sliced the pineapple too thin and missed the tomato(e). But, the amazing thing about this great country America is that, if you want it, someone out there will make it for you. If you yearn for it, work for it, go after it, you can have it. Let's hope it stays that way.

Wednesday, November 05, 2008

Conservatives - Where to from here?

First, find your way out.

Conservatives have choices to make.
  1. Join the Libertarian Party
  2. Reform the Republican Party
  3. Hunker down and drop out altogether.
Conservatives have research to do.
  1. Is the Libertarian Party ever going to be successful?
  2. Is the Republican Party reformable?
  3. Is hunkering down a viable strategy for our children?
Conservatives have realities to face.
  1. Is the media really biased and if so, how do we influence it so that it is not without undermining our own support of the first amendment?
  2. Who should lead the Republican party for the foreseeable future?
  3. What IS the foreseeable future?
  4. How do we plan moving forward?
  5. What should be our short term and long term goals?
  6. Are there any places within our policy platform that we need to adjust?
  7. What should they be adjusted to?

Tuesday, November 04, 2008

Obama will be like touching a hot stove.

All of these newly registered voters. They've not voted before so they've never touched the hot stove before either. So that would mean that they've never known the feeling of despondency that comes from promises made by a politician who then turned out to fail to deliver. It means they don't know what is like to have their curiosity and fascination that is devoid of reasoning or logic dashed to pieces. If (and it's a big if at this moment 11AM on Tuesday November 4th 2008) Obama wins then it will have been due to various factors. And the loss will be bitter because it was the first election for me where I was able to vote for my own head of state (formerly having been only able to call myself a subject of the Queen of Australia who is of course a foreigner).
But there will be good news to come of all of this. One of the rays of sunshine I make as a prediction is that all of these newly registered voters, if they should indeed come out and actually vote (I have my doubts), well they will be as a child who has never touched the hot stove of liberalism. And over the next four years we will see those voters become despondent, disappointed and crestfallen. Because they will learn (the hard way) over the next four years that populism and the cult of personality may be good for false hopes and revving up big crowds but it does not make an economy grow or recover, nor does it lead the world toward democracy and freedom, nor does it spell magical solutions to societies ills. Obama and a Democrat controlled congress will appoint liberal judges, raise taxes and reshape the United States in ways that will shock, horrify and appall these new voters. Just as a baby puts its hand onto the hot stove and spends a brief moment wondering what is wrong with the situation, so to our new voters will have a few months perhaps a year or so before suddenly, just as a baby recoils in spasms of pain, so to our newly registered voters will suddenly be shocked and pained by what they see before them. The good news is, not too many among us ever touch the hot stove twice.

Monday, October 27, 2008

What Paper Trail

(Stolen from an anonymous post at - of all places - The Huffington Post - scroll down about half way)

1. Occidental College records - Not released.
2. Columbia College records - Not released.
3. Columbia Thesis paper - not available, locked down by faculty.
4. Harvard College records - Not released, locked down by faculty.
5. Selective Service Registration - Not released
6. Medical records - Not released
7. Illinois State Senate schedule - not available?
8. Law practice client list - Not released.
9. Certified Copy of original Birth certificate - Not released.
10.Embossed, signed paper Certification of Live Birth - Not released.
11. Harvard Law Review articles published - None.
12. University of Chicago scholarly articles - None.
13. Your record of baptism - Not released or not available.
14. Your Illinois State Senate records - not available.

Just get back to me when you've released all those things Mr. Obama. I've already read all of Mr. McCain's and I didn't even have to ask for his. have a sense of humor but they are also a clever socialist outfit.

Laugh yes, but then go and vote for McCain because you won't be laughing when the socialists start taking your wealth from you with the full weight of the federal government apparatus backing them up.

Thursday, October 23, 2008

Godly Reminders of What's Important

I injured my wrist recently. Now I must unwrap my wrist out of its fiberglass splint to type this blog. How did I injure it? Golfing (well that's another high class problem to add to my list). I have inflammation of some tendons and ligaments. My wrist generates a nasty "click" each time I flex it - in almost any direction. It's painful. Work is a little difficult too since most of my work is done in front of a computer. Will it heal? Yes. Will there be any permanent disability? No. Nothing Motrin and immobilization won't fix - given enough time.

What's my point? The election is about more than just a temporary injury. We're talking about lives here. Soldiers lives given so that others may live in freedom. Those would be American soldiers lives given so that foreigners in foreign lands have an opportunity to live in a way that we take for granted too often.

Notice how "the economy" is the only thing Obama wants to talk about? Notice how Iraq and Afghanistan are just far away places better left forgotten? Biden's best talking point about the big bad world out there is just plain retarded - there will be a generated what?

I looked at my wrist this morning and thought about those soldiers who died and those who are maimed or permanently disabled, disfigured.

I already know who to vote for but I can thank God's remarkable invention of the wrist to remind me today about another real compelling reason that I should vote and who to vote for.

Now where's that splint?

Wednesday, October 22, 2008

May Your Hearts Bleed for the Illegal Aliens!

Miriam Jordan of The Wall Street Journal today attempts to make us all feel sorry for Jose the Illegal Alien who can no longer get a real estate mortgage even though he has $100,000 in cold hard US currency (let's not even get into that little detail of how a 31 year old "vegetable chopper" come "sous chef" could end up with 100K worth of greenbacks).

Read the article here first then come back here and read on.

Now let's do the math using the numbers provided by Bank of Bartlett.

Bank of Bartlett made $20,000,000 in loans to illegal aliens with an average loan worth of $100,000. That means that the bank made loans to about 200 illegal aliens.

The quoted premeltdown delinquency rate was half a percent per annum which means that only one mortgage went bad out of 200. If the bank foreclosed and sold the property for half its value then the bank would recoup $50,000 of their $100,000 mortgage (not counting any additional costs).

If the loans were provided at 7% per annum then they would make $7,000 on each of the 199 good loans.

Their income from the those loans would be $1,393,000.

Their losses on the one bad loan would be a minimum of $50,000.

Therefore, their total net income would be a maximum of $1,343,000.

But look at what happens when the delinquency rate goes up to the quoted 5%. The math changes such that the banks income would be reduced to:

Income of $7,000 times 190 loans = $1,330,000.

10 foreclosed homes at $50,000 loss each = a $500,000 loss.

Total net income = $1,330,000 – $500,000 = only $830,000!

So their net income was reduced by roughly forty percent because of 9 delinquent illegal aliens!

And here we are assuming that the bank was able to sell all of those ten homes. If the bank can't sell the homes then their income could be cut down to as little as $330,000!

Let's assume that they were indeed able to sell all of the houses. Then lending $20,000,000 for an annual return of only $830,000 is just 4.15%. The bank would have been better off putting the 20 million into a CD in a small community bank - but hang on - they ARE a small community bank!

So should we be surprised that Banks are no longer willing to lend to illegal aliens?

A Bank that exposes itself to a risk of a 40% income reduction based upon a 500 percent increase in delinquent high flight risk customers shouldn't be making those loans in the first place.

And we shouldn't be expected to feel sorry for illegal aliens that cannot get a mortgage either.

Wednesday, October 08, 2008

Where are the McCain bumper stickers?

(9:43:30 AM) ConservativeHusband: I think McCain failed big time last night
(9:43:35 AM) ConservativeHusband: now he's going to buy up mortgages is not Americanism
(9:43:38 AM) ConservativeWife: i know, big mistake. the way i see it
(9:43:47 AM) ConservativeHusband: apart from that he did just OK
(9:43:51 AM) ConservativeWife: they are both idiots
(9:43:52 AM) ConservativeHusband: but including that is a huge problem
(9:44:30 AM) ConservativeHusband: we have to reform the Republican party or else bring as many people to Libertarianism as we can
(9:44:39 AM) ConservativeWife: i agree
(9:44:43 AM) ConservativeWife: that is what many people are saying
(9:44:58 AM) ConservativeHusband: I give the Republican party four years
(9:44:59 AM) ConservativeWife: be ready for four years of hell
(9:45:19 AM) ConservativeHusband: and McCain has NOT ONCE mentioned how dangerous it will be to have Obama and a Democrat Congress
(9:45:20 AM) ConservativeHusband: not ONCE
(9:45:22 AM) ConservativeHusband: madness
(9:45:35 AM) ConservativeWife: talk about balance of power
(9:45:50 AM) ConservativeHusband: it's bad enough to have a leftist
(9:45:58 AM) ConservativeHusband: that seems to be hiding his associations
(9:46:08 AM) ConservativeHusband: with terrorists or terrorist sympathizers
(9:46:09 AM) ConservativeHusband: OK
(9:46:25 AM) ConservativeHusband: maybe we can give you a pass on hanging out in the homes of people who have actually bombed the pentago
(9:46:36 AM) ConservativeWife: right
(9:46:42 AM) ConservativeHusband: but to also suggest that the American people want you backed up by a democrat controlled congress
(9:46:42 AM) ConservativeWife: no one wants to talk about that
(9:46:43 AM) ConservativeWife: i would
(9:47:00 AM) ConservativeHusband: the very congress that is now showing itself to have been deeply involved in the economic crisis we now face
(9:47:14 AM) ConservativeHusband: well I think that is too much for the American people to expect of its government
(9:47:24 AM) ConservativeHusband: but what does he say
(9:47:25 AM) ConservativeHusband: ?
(9:47:33 AM) ConservativeHusband: I will spend 300 million to buy up mortgages
(9:47:34 AM) ConservativeHusband: sick
(9:47:40 AM) ConservativeHusband: I managed to contain myself last night
(9:47:43 AM) ConservativeHusband: but enough is enough
(9:47:49 AM) ConservativeHusband: McCain has a week or two
(9:47:54 AM) ConservativeHusband: then I am taking the stickers off the car
(9:47:56 AM) ConservativeHusband: I am ashamed of them
(9:48:06 AM) ConservativeWife: i understand
(9:48:09 AM) ConservativeWife: i feel the same way
(9:48:16 AM) ConservativeWife: i would get rid of them now
(9:48:21 AM) ConservativeWife: that is how stupid i feel
(9:48:44 AM) ConservativeHusband: that is probably why I've seen NO other car with a McCain sticker
(9:48:51 AM) ConservativeHusband: not ONE
(9:49:33 AM) ConservativeWife: i have but only around here but not like the other elections
(9:49:47 AM) ConservativeWife: where so many conservaives had stickers on
(9:49:54 AM) ConservativeWife: not this time
(9:49:57 AM) ConservativeWife: just take them off
(9:50:04 AM) ConservativeWife: i am embarassed to be seen with them now
(9:58:55 AM) ConservativeHusband: OK

Tuesday, October 07, 2008

"See Mr President, if you say things are going well and they don't go well then your political enemies will say you're out of touch"

Mr President: "But how will the people know that I'm optimistic about the fundamental good of the people and their hard working ethic and the incredible productivity that will ultimately fix this temporary problem?"

"Well Mr President, the people will know when they have more money in their pockets"

Mr President: "But they won't have more money in their pockets for a while - right?"

"OK Mr President, you're not getting this. Let me explain it another way. When the economy is going down you should always talk it down just like the Treasury Secretary does because then we can increase taxes and give the people what they want. Then they will know that the economy is better because it's worse"

Mr President: "Somebody find me a war! Or a gun! Something!"

Wednesday, October 01, 2008

OK, the Senate passed their sick, pathetic bill. Now let's see, maybe I'm wrong, maybe the sky is not falling, maybe the bill is good, maybe it really is a good escape from the calamity of normal economic principles. Maybe it turns out that the economic principles that apply to our kitchen table conversations don't actually apply to the macro economic situation. OK, let's wait and see. If it turns out that the Senate is totally wrong then heaven help us but also, heaven help the Senate. Because we will attack them and destroy them. Us Americans will take over this sick and demented bunch of criminals. OK, let's see. They have, oh, less than 72 hours.
MEMO: To Republican National Committee

MEMO: from the desk of just another Conservative Hard Working Average American bent over holding his ankles.

TO: Republican National Committee

RE: Your email that I received today from John Mc Cain asking for donations while John Mc Cain votes to support ear marks galore.

You tell John Mc Cain that he won't get my vote and he won't get one red cent from me in this election cycle because he is a lying Washington insider pretending to be "maverick".

He is about to vote to support 500 pages of a stinking, pile of crap that should be titled "Bad Loan Bail Out and Wool Research etc".

How can you seriously send me an email asking me to donate money when Mc Cain is about to sign the very kind of legislation that he is supposed to rail against?

By his very actions he is proving himself to be no better than the clever closet Marxist on the other side of the competition.

You guys and gals at the RNC must be finding this campaign real hard going - yeah?

What with all the cognitive dissonance you must be experiencing - it would be enough to make your head explode.

PS: Amazing how fast your phones answer when I offer to make a donation. Amazing how impossible it is to get through to express my displeasure at these "bail out" bills.

Keep bailing! But you're on a sinking ship!

Yours sincerely,


So did you hear that the new Senate bail out bill has provisions for the mentally ill?

That's just the Senate giving themselves a pay rise.

Tuesday, September 30, 2008

News Flash - Congress indicted for stock manipulation and racketeering.

If the United States Congress were Directors or Executives they would presently face numerous lawsuits from angry share holders and would face investigations by the FBI, the NYSE and the American Bar Association (to name a few). They would then quickly find themselves in front of Congressional hearings, would be subpoenaed by Grand Juries, hauled into courts and ultimately imprisoned and fined for these outrageous manipulations of the stock market and real estate business. And then they'd be disbarred.

One question, what stocks did our learned American Congressmen and women buy today?
A letter to my Congressman

Dear Congressman Shays,

I received your email this morning regarding the failure of HR 3997. Please find my response below.

The sky is not falling and the "greed of Wall St" is not nearly as systemic nor as widespread as the corruption in Congress has been over the last eight years (eight years that I've witnessed as an immigrant, now proud US citizen). Henry Paulson himself has been predicting calamity. Our President has been chiming in with predictions of dire straits. Nancy Pelosi appears next to Barney Frank and the world as we know it is about to end - apparently. But it won't end, not today, not tomorrow, not even six months from now - if only Congress and the President would allow the free market economy to make the adjustment that it needs to. People are not going to starve because they can't buy a flat screen TV, instead American consumers may actually end up paying off some of their credit card debt. Yes, people will be hurting. Yes, the middle class is in for austere times. No, they are not going to have problems getting their pay check.

But they will if our Government continues to predict doom and gloom. I would suggest that quite a bit of the downward trend in the markets is caused by our elected representatives constant, loud and shrill - doom and gloom. And the people will be hurting even more if a fiscally irresponsible "bail out" gets enacted as law.

You say it was unfortunate that the bill failed to pass the house. There are millions of us that are happy, if not overjoyed that it failed to pass. You say it will be introduced again. I would suggest that millions will make sure that bill doesn't get passed either. You say you are determined to be part of the solution. I say you are making the problem worse with all of this spreading of fear, uncertainty and doubt. You and your brothers in Congress should be ashamed of your shoddy and shabby handling of our economy. And, you are making it worse by proposing tax and spend policies that will hurt the very citizens you are all pretending to help.

You blame Wall St tycoons who have no ability to write or pass laws. How dare you blame them when this mess was created by over regulation and interference with the real estate market place. It is people like Barney Frank that should be asked to resign without pay. People like Chuck Schumer. People you work with. Christopher Dodd as well. Using "Wall St" as a punching back makes for nice political boilerplate but the large constituency of voters are neither naive nor ignorant of the canard that it really is. You mentioned "letting the market do it's wonders" and you're right about that. Let it do its wonders. Our recession will be shorter and less painful if you and your partners in mismanagement in Congress let it work.

The Federal Government does have tools at its disposal that are constitutional and worth doing. You and the Republican party should be advocating the following:

Reduce the capital gains tax (don't give me the "there is no capital gains to tax nonsense").
Move forward with a program of tax reductions for all American tax payers. Reducing taxes will save thousands if not more of hard working Americans from facing foreclosure. It will also help small businesses that are not able to access tighter credit by reducing the cost of doing business.
Provide short term money to stabilise monetary policy. Amazingly, that is exactly what the fed's have been doing and, remarkably, it is helping.
Move forward with fiscal policy reforms. Uh, shut down wasteful Government programs and fast.
Repeal Sarbanes Oxley. This ridiculous regulation helps no one but costs billions.
Wind down Fannie Mae and Freddie Mac within ten years. They are both corrupt, were corrupt and always will be corruptible.

Those are the reforms needed to make real progress to correct the errors of the past. Errors that primarily were caused by certain members of Congress who refused to listen to reliable expert witnesses. Now is the time to show the leadership that will also put you in good stead to get yourself re-elected. The electorate understands the engine and mathematics of our economy and the electorate understands that Congress is currently attempting to avoid the blame and are proposing laws that will only make matters worse. Your email provides proof that you would rather harm our economy rather than take the more difficult path of minimising Government involvement in our economy. Big Government will fail us and it will fail you too.

I urge you to consider alternative fiscally and economically responsible remedies and reconsider your position on this very serious matter.

Best regards,

Mike Hawkins

Monday, September 29, 2008

Harping on about Private Equity firms.

I've been saying over and over now. But by crickey, I am gonna say it again. This great nation of ours is swimming in dollars, they just happen to be locked up within private equity firms and as the big investment banks go looking for valuable assets to sell they are going to find more and more private equity firms snapping up those profitable units as fast as the House can say "the sky is falling". And lo and behold, stuck between the notes on the DIJA, NASDAQ and others falling today what should pop out of the financial wires but that:

Lehman Brothers (LEH) reached an agreement to sell its Neuberger-Berman asset management unit and other businesses to private-equity firms Bain Capital and Hellman & Friedman for $2.15 billion. While the deal hands over control of Lehman’s asset management unit and private funds investment group, it doesn’t include the bank’s private equity businesses. Bain and Hellman & Friedman will have equal control of a newly created investment management company that will feature Neuberger as its largest unit.

And also that:

Citi Swallows Wachovia

In the mean time, Wall Street was clearly spooked after Wachovia (WB: 1.84, -8.16, -81.60%) nearly failed and European banks came under fire.

Now on top of that comes this interesting news about Fannie Mae:

Fannie Mae (FNM: 1.56, -0.27, -14.75%) and Freddie Mac (FRE: 1.80, -0.20, -10.00%) disclosed on Monday they were subpoenaed earlier this month by a federal grand jury investigating their accounting. The mortgage giants that were seized by the government also said they are subject to an SEC investigation. Fannie and Freddie said they intend to cooperate with the investigations. Shares of Fannie and Freddie were up sharply on the day.

Now remember how Fannie Mae is the unlucky devil that did what the Government asked it to do? Let me refresh your memory a little. The Congress and in particular Democrats and Republicans (yes both) basically told Fannie "don't say no when handing out loans or being asked to underwrite loans". Well, that kind of executive direction got them into a little trouble. So now, when a federal grand jury decides to subpoena good ol' Fannie their stock price does what? Why, it goes up of course, because finally there will be the harsh light of accountability shed on their shady dealings. Let's not mention the eye popping idea that a quasi private/public institution could pay lobbyists and extend benefits to bank associations as "grants" (see Chuck Schumer/Jesse Jackson HELP program for example).

The main point here is that, the banking sector is NOT failing. It is simply readjusting to the now very well known realities. That is, the banks mismanaged their affairs and now the "predatory buyers" (wait for some Democrat to call them that soon) are buying them up because they will make great assets in the future.

Now the next point, left a message with Christopher Shays this afternoon congratulating him on making the right decision to vote no on this ridiculous socialist program and Bank shakedown of the American people. Now it is up to the house Republicans to reset their agenda to bring forward a stimulus package based on Milton Friedman free market principles. And it is really quite simple.

i) reduce the capital gains tax.
ii) move forward with a program of tax reductions for all American tax payers.
iii) provide short term money to stabilise monetary policy.
iv) move forward with fiscal policy reforms. Uh, shut down wasteful Government programs.
v) Repeal Sarbanes Oxley.
vi) Hey, let's throw in "wind down Fannie Mae and Freddie Mac" within ten years.

Because we ARE going to enter a downturn in the American economy. The only question is: how long and how deep will our Government make it?

UPDATE: Oh dear, it turns out Christopher Shays voted FOR the bail out. Now I have to make sure that he is never able to hold public service office again! Thanks for nothing Chris.