Daily Archives: 10/13/2008

Lloyd Doggett’s Reelection

(Community Matters) Of course I think Lloyd Doggett should be reelected. And, I’m not voting for him this time.

If he had a credible opponent or the race was otherwise tight, I would vote for him. However, this may be the only way to express our displeasure with his failure to show courage in the House bailout vote two weeks ago.

He’s right, I and many others did originally write to him and ask for Congress’ leadership in improving the dismal legislation originally offered up by Bush and Paulson. And, Congress did. They added oversight, equity participation, increased FDIC limits and latitude for the courts to allow modification of mortgages for borrowers who had not lied but had been defrauded by unregulated mortgage lenders.

Yet, unable to show leadership against understandable populist angst, Lloyd refused to support perhaps the most important financial legislation of our time. I’m optimistic that this legislation will inject the liquidity and confidence into our economy that will save tens of millions of jobs and trillions of dollars in men & women’s savings. Lloyd Doggett is an important member of Congress. Most of the time, he’s been a courageous representative. Unfortunately, when leadership demands taking an unpopular stand even against record voter telephone calls, Lloyd fails to rise to the occassion as we came to expect under Congressman Pickle’s leadership (aka voting for civil rights legislation while risking his own popularity).

This is why I plan to skip Lloyd’s race on the ballot. Send Lloyd this message that we do love him and expect more courage from our representative.

Whispers About Obama

(Community Matters)

The most persistent falsehood about Senator Barack Obama’s background “Obama is a Muslim who has concealed his religion.” That statement, contained in a press release, spun a complex tale about the ancestry of Mr. Obama, who is Christian.

Until this month, the man who is widely credited with starting the cyberwhisper campaign that still dogs Mr. Obama was a secondary character in news reports, Andy Martin. He is a law school graduate, but his admission to the Illinois bar was blocked in the 1970s after a psychiatric finding of “moderately severe character defect manifested by well-documented ideation with a paranoid flavor and a grandiose character.”

In various court papers, Mr. Martin had impugned Jews. A motion he filed in a 1983 bankruptcy case called the judge “a crooked, slimy Jew who has a history of lying and thieving common to members of his race.” In another motion, filed in 1983, Mr. Martin wrote, “I am able to understand how the Holocaust took place, and with every passing day feel less and less sorry that it did.”

full article

Equity Positions

(Community Matters) I’ve believed we needed to inject capital and take equity stakes since debating began on the bailout. Pleased to see we’re headed there and the market appears to be responding. I don’t see this as nationalizing the banks because I don’t believe we should save any financial institution that would require enough capital to give us majority control. Though, I do want us to dilute enough to capture our fair share of the upside.