WHO'S AT FAULT FOR OUR FINANCIAL CRISIS?

Today the financial world is a very dangerous place and our leaders need to take the blinders off.

We do have a major financial crisis. So many are blamed--Democrats, who insisted on banks lending money to high risk borrowers, inept bank regulators, credit rating agencies, and the Federal Reserve's monetary policy (too low interest rates). But those who were most at fault are the bankers and investment bankers themselves. Out of sheer greed, they concocted an elaborate, legal, but risky scheme to obscure risk that is tanking the world economy. Our world needs financial globalization. If it fails, the large financial institutions and their regulators will have to bear a large part of the blame.

Why are they the cause? Why isn't it a result of the sub prime loans and the housing bubble that burst? Here's the story: Traditionally, a bank would lend a buyer the funds to purchase a home and then hold that mortgage for the duration of the loan. During the life of the loan, the bank was responsible for the risk of the mortgage. In this new economy, banks resorted to a different system to come to terms with risk. The bank collected all its loans into a single pool and divided the collected sum into separate pieces called interest income streams. In other words, the banks securitized the loans, selling off the repackaged individual income streams (now called mortgage-backed securities) to the global market. The banks also encouraged their independent, off-balance-sheet vehicles to buy these mortgage-backed securities, some of which held pieces of mortgages that were rated subprime. The large financial institutions made huge fees selling these bundles to their own independent investment vehicles.

Then things got really complicated. The independent off-balance-sheet vehicles, using the just purchased bundles as collateral, went to the global credit markets and borrowed money by issuing commercial paper. Traditionally, commercial paper was a highly safe form of debt investment, widely used as one of the safe backbones of money market funds. The burst of the housing bubble set this course into a downward spiral. Financial stocks collapsed. The bankers faced no risk once they had sold the bundles to the off-the-book vehicles. They did it--risk free risk with enormous profits. The regulators and the rating agencies were so lax. They never asked to look at the whole picture. Never looked at all the sub prime exposure, thinking it was tied to real estate so the debt was securitized. What they failed to understand was the real estate was a bubble about to burst because the value of the real estate had dipped below the amount of the mortgages. They thought real estate prices always went up, but that was their stupid mistake. And now we're all losing because of it.

To understand this, think of inflated grades in our schools--consistently giving inflated grades so we never really know the true aptitude and ability of the students. Same with the bundling of the mortgages and the clever risk avoidance.

When will we ever learn??? Obama is not the answer. He is into a redistribution of the wealth and class warfare. Let's hope he's a one-term president replaced by someone who wants America to once again be the shining city on the hill. We must stop allowing the left wing media to select our leaders by destroying competitors to their politically correct choice. Obama has a toxic agenda for our country.

AMERICA IS IN DANGER: OBAMA IS NOT THE ANSWER

If you aren't moved by this video, if you aren't worried about our country, our educational system, our place in the world, the future of our children, then you might as well be dead.

Sony played this mind-boggling video at their executive Conference this year.
Highlight it, and paste it in your search window. I promise you won't be sorry.

http://www.youtube.com/watch?v=cL9Wu2kWwSY

BRISTOL PALIN AND RIGHT WING BLINDNESS

Though I thought Sarah Palin was a breath of fresh air, I was always distressed by her rigid view on the matter of reproductive rights. Today, our media has sexualized everything. That's what our kids are seeing. Inevitably, this leads to sexual activity at younger and younger ages, and the consequences are alarming--huge increase in both STDs and teen pregnancy. The right wing fanatics who advocate abstinence are delusional. Their firm stand against both birth control and abortion is further proof of their detachment from reality.

Sex and pornography is one of the nation's most profitable businesses, and it's all over the Internet. If you don't think our kids are seeing it, then you can join with the delusional right wing. What to do about it? Great question. Maybe the Obama Messiah team can figure it out. They seem to have answers for everything. But most assuredly, denying birth control, abortion and realistic sex education to young people plus forcing them to have these babies is definitely not the answer. I hope this pro-life movement continues to wane. It's one of our nation's greatest mistakes, and it will prove to be the demise of the Republican Party if they persist in promoting it.

OBAMA IS A FALSE GOD

Is anyone getting as fed up as I am with the media's worship of this self-proclaimed savior who's done nothing yet to warrant this fawning? Recall how the anti-war screamers used to carry on like banshees every time George Bush attacked anywhere and civilians were killed. Where are those screamers? Obama had successful air strike attacks over Pakistan and destroyed several suspected terrorists as well as some of the "innocent civilians." Not a word from the media nor from the anti-war critics about the collateral damage. Not that I want him to be criticized for these attacks, but I say this only to point out the duplicity of the media. I want a President to kill our enemies who want to kill us, but when Bush did it, the nuts screamed loudly, ignoring that he was trying to protect us and so he did--at least we haven't been attacked since 9/11. And I am no Bush fan, but let's give credit where it's due, and let's be even-handed. Stop this blind worship of Obama. When he makes mistakes, which he will surely do, and is actually doing now, let's hear the truth. At the moment, he's making a huge blunder with this stimulus package...it's not stimulus unless it's designed to help business create jobs. Instead, he's giving money to people who will not spend it, nor will they create jobs or give a boost to our economy. Obama is pushing for a free hand to the unions, and that will be the kiss of death to the businesses that already have serious problems competing with companies in other parts of the world.

Most solutions now call for realism instead of this left wing indulgence and lofty rhetoric that says nothing. Obama is a mere mortal and his errors need to be addressed. We can no longer trust the media. They are so smitten, they can't see reality.

FLINGS WITH BAD BOYS

Flings with bad boys are poignant reminders that at any given moment what you thought would be appealing is no longer appealing, and that’s why women need flings in addition to their long term commitments. Or while waiting for Mr. Right to come along, there’s no reason to pine away in loneliness. Flings are not to be confused with serious relationships. Of course, it could grow into the real thing, but that’s definitely a long shot. Flings are a category unto themselves. These are not affairs. Affairs occur when one or both are married, and that’s a whole different moral complexity. I don’t know very many married people who haven’t at one time or another considered having an affair, or, in fact, had one. Many times, married friends have called me to say they are frenzied with desire for someone other than his or her spouse. It’s normal. What’s unpredictable is when people cross the line.

Years ago, one of my married older friends, whom I would vote least likely to have an affair, was having one with her chiropractor, who I might add, was also married. This was during my acting days—I was playing the part of Maggie the Cat in an off Broadway Cat on a Hot Tin Roof and my friend was playing the role of Big Momma. That should tell you why I was so surprised that she was tumbling around with her chiropractor. Affairs have torn families apart, even nations for that matter. The bad thing about affairs is that there is so much at risk—precisely why they are so damn enticing.

Flings, on the other hand, are freebies and rarely cause upheaval to people we care about. Singles can fling at will. True, the thrill is not as heightened as it is when home wrecking is at stake and lies have to be told, and meetings have to be clandestine. Even sex has to be hurried and sometimes played out in the back seat of cars on remote country roads. A fling is quite delicious, at least for the first week. It can’t go on too much longer or it could become a relationship, to which I say watch your step. New flings are like coming home to a great big package on your front porch. Who doesn’t like a beautifully wrapped surprise gift? And you never know what’s in the package until you tear off all the wrappings—a mystery therein that keeps our blood flowing and our hearts beating.

The other great beauty of a fling is that you don’t have to be concerned about his age or his occupation because he isn’t going to be permanent. He’s a sweet tidbit that you indulge in even while staying on your diet most of the time. Mind you, it’s not for the feint of heart because he is not reliable and may even have a permanent girlfriend who has priority. The best fling types are bad boys, not ex-cons or drug pushers or even scam artists. But what I mean is someone who is just not right for you for any number of reasons. Maybe he’s a race car driver or a Delta pilot or a bartender, and maybe he has some quirky needs like wanting to give you a bath or a oil rub down all over, or maybe he likes very beautiful and successful older women but feels unworthy of them. Whatever it is, it borders the dark side and is wildly attractive for a short term connection. But, just remember one thing, many bad boys are attracted to bad girls, and that is something you may not be willing to admit –that you’re a bad girl some of the time. Bad boys and girls are often unpredictable, impulsive, and they develop chameleon-like skills to survive in this upside down dating world.

If you’re lucky, flings present themselves when you need one and you’re least expecting one—that exact moment when you're both in the same place at the same time and you exchange looks with heightened desire—lust. Then a fling is a beautiful interlude. And for a chance at that, you have to be ready to jump right in and not concern yourself with the outcome. If you’ve never tried one, you don’t know what you’re missing.