Monthly Archives: September 2008

(Community Matters) I’m proud how Barack has handled his involvement in the economy as a US senator and as the Democratic nominee for president. While in constant contact with Treasury Secretary Paulson and Fed chairman Bernanke, he’s responded responsibly to the economic situation this week, not wanting to second guess the Fed, knowing he doesn’t have all the information. Instead of second guessing the AIG loan, Senator Obama has focused on ensuring protections for taxpayers’ interest.

In contrast, Senator McCain said that under no circumstances should taxpayer money be lent to AIG. He says this without sufficient information on the implications to our financial system, jobs and wealth of American taxpayers. It’s another example of his shooting from the hip without information. We all heard him say yesterday morning that the fundamentals of this economy are strong. [and yeah, today he reversed himself on AIG.  The point being, he doesn’t even think or gather facts before he speaks.  hmm, 4 more years]

Barack’s economic plan and response to the current crisis is informed by real information, an understanding of macro and micro economics and advice from his highly esteemed team of economic advisers: Robert Rubin, Larry Summers, William Donaldson, Jason Furman and Austan Goolsbee.

(Community Matters) Well, I don’t blame them . . .

A friend wrote to thank me for my recent email and to inform me that I’d have to decode 4 it before she’d understand it. Come to think about it, I don’t blame her.

BTW – by the way
NYT – new york times
AIG – american international group
NFC – national finance committee

(Community Matters) Dismissal of national polls notwithstanding, I’m hearing the NYT poll shows Obama up by 5 after being down by 2 last week.

In the state by state polls which haven’t been fully vetted at 538 nor do I think yet entered into the models, among the battle ground states the only of real note seem to be: competing polls on Ohio, the latest and largest sample showing Obama +2 (the smaller and last week’s poll showing McCain +6). Virginia still sending mixed messages favoring Obama, though thought to be a lean McCain state. And, the juiciest is a CNN/Time poll showing Obama +4 in Florida (this poll includes the independent candidates).

Remember, Obama winning any one of Colorado, Virginia, Ohio or Florida probably means he wins.

(Community Matters)

(Community Matters)

By Tim Wise

For those who still can’t grasp the concept of white privilege, or who are constantly looking for some easy-to-understand examples of it, perhaps this list will help.

White privilege is when you can get pregnant at seventeen like Bristol Palin and everyone is quick to insist that your life and that of your family is a personal matter, and that no one has a right to judge you or your parents, because “every family has challenges,” even as black and Latino families with similar “challenges” are regularly typified as irresponsible, pathological and arbiters of social decay.

White privilege is when you can call yourself a “fuckin’ redneck,” like Bristol Palin’s boyfriend does, and talk about how if anyone messes with you, you’ll “kick their fuckin’ ass,” and talk about how you like to “shoot shit” for fun, and still be viewed as a responsible, all-American boy (and a great son-in-law to be) rather than a thug. continued here

(Community Matters)
Just ran into Alan Graham, ED of ML&F. They took two catering trucks to Houston last week and provided 600 meals and block ice to families with out electricity or even pottable water. He’s taking his trucks, a larger catering truck, a shower trailer and possibly a semi of block ice this weekend. We need to do something to support these efforts, even if we have no discretionary monies left after political contributions. What if the shoe was on the other foot? Posted from my blackberry

(Community Matters) What goes up must come down. Palin’s favorability numbers are on the way down. From 52 – 35 (+17) just six days ago to 45 – 44 (+1) now.

(Community Matters)

(Community Matters) Damn, do our buddies at RCL and 538 sleep late or what? Nothing new up on their sites this morning, so I did my own look at their data, graphs, averages and win predictions.

I’m noticing that the polls for most states have been flat for the last 8 to 10 days. Not much movement in public opinion (mostly maintaining the GOP convention bounce?). This is true for Ohio (McCain +3), Michigan (Obama +2), Wisconsin (Obama +5), New Hampshire (Obama +3) and Missouri (McCain +15).

Exceptions to the flat lines, however: Virginia, SurveyUSA and Fox/Rasmussen showing turn toward Obama, though Nate Silver still considers the state lean McCain. Florida, showing a definite move toward McCain and away from Obama during the same time the other states have been flat (Nate says McCain +6 and likely McCain). Colorado had been flat but polls last two days show movement toward McCain (Nate still considers CO a toss up). New Mexico, not much polling taking place here and also considered a toss up. Finally, Nevada had been flat for over a month and now ticking up for both candidates, undecideds? 538 still categorized NV as lean McCain.

(Community Matters) A reader wrote to note that ARMs were created (or began being marketed) under Carter and that abuses were taking place under Clinton, as identified by Clinton’s Federal Trade Commission. My response to his comment:

Jim, no question about creation of ARMS, nor even initial reports of abuse. You’ll note that the concern by a governing federal agency was investigated and cited under Clinton’s Federal Trade Commission. The problem isn’t that the risk wasn’t identified; the problem is that the FTC was initially weakened and politicized under GW Bush. His first appointment as chair of the FTC: a longtime friend and Republican Party official without credentials, Janet Dempsey Steiger, the wife of a Republican Congressman. (Reminiscent of atta-boy Brownie). And, guess who 11th-hour slipped a 262-page bill deregulating swaps into a spending measure? Phil Gramm. And guess what’s been the real culprit in this subprime mortgage financial crisis? Credit default swaps, what Warren Buffett calls financial weapons of mass destruction. Estimates run as high as $62 trillion in CDS exposure, i.e., that’s more than the 2007 $53 trillion estimated world GDP. Seriously, Phil’s responsible for the deregulation of this market. btw, swaps in of themselves aren’t bad things; they’re important tools in financial markets. If we had regulated financial institution capital exposure as well as credit underwriting standards, we wouldn’t be in this mess. Regrettably, the events leading up to this financial crisis have been managed every bit as competently as Katrina relief efforts

(Community Matters) At least by the end of the day John McCain was acknowledging there were fundamental threats to the economy; earlier today he said the economy was fundamentally sound.

(Community Matters) Enjoyed meeting today with Bob Boldt, Lenny Sullivan and Justin Day from Parella Weinberg Partners. Bob formerly ran UTIMCO, Lenny is a former colleague at the business school and Justin’s a former MBA student. Bob & Lenny now partners at PWP; Justin’s left Endeavor to work with Lenny. Impressive organization, the Austin operations formed by Bob and several colleagues also formerly of UTIMCO, Agility Funds, intended to provide advantages of large endowment investment model to organizations which couldn’t otherwise access these investment options.