BAILOUT FAILED, DOW PLUNGED - SO?

The “bailout” bill did not pass even though it included a few compromises that the Democrats wanted. The revised bill was configured to answer specific objections of both Democrats and Republicans.

The bill mandated strict oversight, money to be doled out piecemeal, no CEO golden parachutes and Wall Street to make up the difference IF the government could not re-coup all the money spent on the bailout. The last point, I guess, made the bill not really a bailout but an investment – sort of.

The House Republicans would have none of it and were joined by quite a number of Democrats. The Republicans objected to the bailout provision as socialism and the Democrats to the lack of help for people in foreclosure.

There were a number of reasons why the House Republicans voted down the measure and one of them actually was a speech delivered by Nancy Pelosi BEFORE the vote where she blamed the whole financial mess on the Republicans in blunt and derogatory terms. Her speech was so vitriolic that some House Republicans immediately gave her the finger and said screw your bill toots.

Pelosi, not one of my favorites, made a very stupid mistake by on the one hand calling for
bi-partisanship and on the other, blaming everything on the Republicans. Anyone with half a brain would have at least waited till the voting ended and made her political points some other time.

The House Republicans also had an ulterior motive for killing the bill. Many of them were up for re-election and knew that their support of Bush and his failed policies was being held against them. Many, including me, were going to punish them for that obstinate, damn my constituents, behavior by voting for anyone BUT them.

They saw, in this bailout bill a way to stand up to Bush and show their constituents that they really were not blindly following Bush for the good of the party; they really had an independent mind and really cared for their constituent’s views and concerns.

And there were those Republicans who actually had economic principles that they would not compromise on even though their leader was willing to do.

Bush never really behaved like a true Republican from the start. He grew the government larger than any Democrat. He invaded countries, grew the deficit which is a sin to Republicans and interfered in people’s lives which is anathema to pure Republicanism. BUT Republicans did follow and did not object till now…

OK the Dow did drop a ton but in percentage, it was not the worst in our history. Keep in mind that the DOW is made up of ONLY 30 industrials. The S&P 500 would be a more accurate measure of the market in general.

As I watched CNN, all the anchors were screaming “the sky is falling, run for cover – our credit markets have dried up and so the economy will just crumble and the taxpayers will be the ones to suffer the most – just you wait and see”.

Bullshit…let the FDIC insure all bank deposits up to $250,000 which I hear Obama will propose and insure all money market funds for the same amount and that will free up the credit market.

Let the private sector buy up the toxic sub-prime mortgage securities for what they are really worth and get them off the books and start fresh if you can. If you cannot, hasta la vista baby, next time, don’t be so stupid.

The market has to correct itself with some help from the Feds but NO BAILOUT cause’
a lesson has to be learned by everyone – it appears, the hard way.

It is ironic that I will be voting for Obama and yet I back the Republicans on this particular issue – oh well. McCain, as you noticed, was visible mixed up as to what to do; his crap is getting old. He obviously cannot walk and chew gum at the same time.

PALIN AS PRESIDENT?

I have to say something more about Sarah Palin, our VP nominee and potential president of the United Sates.

I admit, I was saddened and then angered at the nation’s reaction to the naming of Palin for VP by John McCain. People were asking if his decision was stupid or brilliant and initially it seems the decision was pretty smart.

In talking with my friends, I asked if we as a nation are really that naïve, that shallow, that stupid. Do we vote on appearance; nice haircut and a nice ass?

McCain kept her in hiding so her true self could not be seen. He allowed only scripted appearances while his crew implanted all the rote answers she would ever need to know to all possible questions thrown at her.

Could he manufacture a VP robot that could fool all the people all the time?

We now know that one of McCain’s major reasons for picking her besides the fact that she was a woman and would satisfy all the dejected female Hillary supporters, was for her ultra right views on basically, all subjects and way right of even McCain himself.

I was buoyed lately when females that I spoke to suggested that they were also hockey moms and felt insulted by Palins nomination. They felt it was an insult to all women when they are picked for their looks and not their brains and abilities.

This financial crisis we are in has also caused voters to imagine Palin as president or for that matter, even McCain whose president allowed this to happen on his watch with his unwavering support.

Voters are also trying to imagine Palin as a president dealing with a nuclear Iran, re-emerging nuclear North Korea, a newly aggressive Russia and a re-energized al-Qaeda. She may be trained to give the right answers, wear the right hairdo and sport fancy glasses but who is Sarah Palin really and why are they so desperately trying to hide that person from us?

I don’t know Sarah Palin but the little that has trickled out but the fact that McCain is keeping her in seclusion means that he knows the real her not the marketed her and she is nowhere ready, if ever, to lead this country; McCain is counting on staying alive while in office so she never has to lead. That to me is absolutely unpatriotic and callous since it shows a total disregard for this country and its inhabitants.

HOUSE REPUBLICANS TO THE RESCUE?

Is it not IRONIC that the Bush / Paulson bailout plan is being stymied by HOUSE REPUBLICANS?

You noticed that the Democrats had no trouble agreeing with Bush to just buy up all that nasty debt around the country for $700 BILLION, after all the Democrats are all about SOCIALISM and the bailout plan would put this country on a definitely socialist footing.

House Republicans went against their own president and would not give up their CAPITALIST principles and I applaud them for it.

Bush gave a good speech explaining why the country is in the financial position it is right now and how his plan would save us from certain economic disaster BUT this is the guy that told us about weapons of mass destruction and how we absolutely needed to invade Iraq or disaster will befall our great nation.

I am not saying Bush is totally wrong but I think his plan is too big and too rushed; we need to give this matter some serious thought before we commit $700 Billion to throw at the problem at hand.

I suggested and the House Republicans appear to be thinking in the same vein, that the Federal government provide insurance or a guarantee in specific areas to keep the credit markets open. They have already done this for investments in money market funds which provide most if not all of commercial short term loans.

Freddie Mac and Fannie May can continue to keep mortgage money flowing by buying sound mortgages from mortgage originators.

Washington Mutual (WaMu), a huge bank, failed this morning, was taken over by the Feds and immediately sold to JP Morgan Chase. The bailout would have prevented this demise but why should a bank earn a reprieve for its disastrous decision making; it did not deserve a new life.

Yes, our government will still spend billions of our taxpayer dollars to guarantee the safety of our money but it will not reward wild speculation which needs to be controlled just like the regulations enacted after the Great Depression did but which were conveniently overturned in our time and now need to be re-enacted.

Goldman Sachs and Merrill Lynch have now become “regular” deposit banks which means strict federal regulation. Warren Buffett just bought five ($5) Billion in Goldman Sachs preferred stock which indicates a private sector with money and a willingness to spend it IF the Feds act to restore trust in our financial system.

Some people should be in foreclosure and some financial institutions should just die or be sold off.

The Democrats are just itching to socialize our economy with the help of a Republican president of all people; they must not be allowed to do that!

If you are thinking why would Bush do such a thing with four (4) months remaining in his tenure as president, just think about his presidency? He led us into a disastrous war in Iraq, he allowed al-Qaeda to rebuild in Afghanistan / Pakistan and he allowed Russia to once again become an aggressor nation in opposition to the U.S. and on top of all that, he allowed our financial system to crash. Wouldn’t you want at least ONE GOOD THING to be written about your eight (8) years in office?

Bush may think that his bailout would be treated as “a good thing” but he is mistaken. In my opinion, it would lead to the collapse of our capitalist system and to me that would be a real disaster for the ages and for this country.

NO TO SOCIALISM!

I have been listening to all the debate about the $700 Billion bailout of financial institutions holding non-liquid and potentially worthless mortgage-backed securities.

I can understand Henry Paulson and Ben Bernanke’s rationale (let’s not forget that they work for Bush) for buying up troubled debt from financial institutions and thus preventing, what they feel, would be a serious recession even though a recession has been predicted for some time now.

I can understand why the Democrats want something for the taxpayer that is footing the bill. They want people in foreclosure to get consideration. They want judges in bankruptcy court to be able to re-work mortgage terms for people declaring bankruptcy so they can keep their homes. They want CEOs of the institutions being bailed out to get a realistic severance pay package; not millions of dollars.

Lately I have also heard that people about to lose their cars should be bailed out or any one in financial difficulty and here I have to say ENOUGH!

We are and have always been a CAPITALIST nation. Capitalism is what made us great and the envy of the world.

What the Bush Administration is proposing is SOCIALISM which to me is abandoning the economic structure and philosophy that made us great and that is unacceptable!

What got us in this mess is the housing bubble that burst. People on Wall Street as well as people on Main Street gambled that the housing market would continue to grow and prosper, never thinking that it might not; well, shit happens and it did and so you got poked in the eye but good.

The really important question now is what will happen IF we do not pass the bailout bill. Wall Street investment banks are gone. Financial institutions with large amounts of the toxic mortgage based securities will have to write them off. The credit market may be squeezed and our economy may suffer which means non-financial businesses will suffer also.

BUT the economy will correct itself and recover and we will still be a CAPITALIST nation. Many people will learn a hard lesson as they should and new regulations will be enacted to protect us from future financial shenanigans that damage our economy.

NO TO SOCIALISM!

THE LESSONS OF THE GREAT DEPRESSION

Let’s stay on the subject of our economy because what’s going on is so historic and may influence our lives to such an extent; we need to explore it and its ramifications very closely.

On the surface, the plan is simple; spend billions if not trillions of taxpayer money to buy up all bad mortgage based debt from all financial institutions that hold it. Once freed from these illiquid assets, the financial institutions can go on about their usual business – NOT! New regulations have to be put in place to prevent this nonsense from ever happening again.

It is ironic that just recently, the Republicans were complaining about the over-regulation of the finance industry; Democrats did too. After the Great Depression, regulations like the Glass Steagall Act (1933) which created the FDIC (Federal Deposit Insurance Corporation) and separated deposit banks from investment banks with tight rules, came into being. Through the years, nearly all those depression era regulations have been repealed. Guess what – its time to re-regulate.

A question that I know people are asking is how come we, the taxpayers, are bailing out all those rich morons that screwed up royal and caused all of us this misery and they are being forgiven with no penalties or pay-back at all?

These rich institutions are being bailed out but not the people who have been or are being foreclosed on? Where is the fairness?

People in power are well aware that they cannot just please “Wall Street”, they have to please “Main Street” or they all will be thrown out on their asses so believe me, they are thinking of the little guy also.

One interesting point being argued is to put tight salary limits on executives of companies being bailed out – I can already hear the screeming.

During the Great Depression, Roosevelt created the Home Owners’ Loan Corporation which bought up distressed mortgages and thus prevented foreclosures. The corporation then would negotiate a re-payment plan with the mortgagee that was realistic. In 1951 when the corporation finally closed, 80% of all the mortgages it bought were repaid in full and the government actually made a profit.

In our current situation, things are not so cut and dry. Mortgages were originated by brokers who sold them to financial institutions who bundled them with other mortgages and re-sold them as securities, etc, etc………

I have to see how we the people are going to benefit from all this…

WHAT TRIGGERED THE PANIC?

I spent a long time going over the Wall Street Journal this morning just trying to get a handle on the greatest governmental intervention into our economy – ever! The Wall Street Journal says this is a new chapter in capitalist economic theory since our government is basically behaving like a socialist government.

I wrote before wondering what triggered the government action which by the way is to buy up all bad mortgage based debt in the country, yes, the whole country, giving financial institutions a clean slate to start over from. This kind of reminds me of the biblical “scapegoat” concept where all the sins of a community are heaped onto the goat as it is driven off into the wilderness to die, leaving the community free of sin and ready to start over again.

Anyway, what broke the camel’s back was a run on “money market mutual funds”. These are the funds that many of us keep our “liquid” money in because they are super safe and pay a lot more in interest than a typical bank savings account. The bank savings account though is FDIC insured up to $100,000 while the brokerage money funds are not.

What spooked investors in these super safe money market accounts was the action of the $62 Billion Reserve Primary Fund which held a lot of Lehman Brothers debt (Lehman Brothers recently declared bankruptcy) forcing the fund to “break the buck” taking the practically religious $1.00 / share net asset value to $0.97. This has never happened in my lifetime and was enough to cause a run on the fund and then moved to other money market funds. The Reserve Primary Fund suspended redemptions, causing even more panic.

Henry Paulson, our Secretary of the Treasury, saw that these super safe money market funds had to pay out money by selling their assets at fire sale prices at an alarming rate. Since they are paying out, they are not purchasing any new debt and I have learned, money market funds basically keep businesses in business and when they are not purchasing short term debt, business will come to a screeching halt if not our entire economy and this is what made Paulsen act so quickly.

Paulsen quickly put in place a temporary federal guarantee (like FDIC) on money market mutual funds; something only available to banks previously. The redemptions, which totaled 145 Billion so far, slowly came to a halt and disaster was averted.

Paulsen realized that the economy needed a systemic fix or panic attacks will occur more and more frequently as other financial institutions bite the dust and thus the unprecedented bailout of our entire economy.

But this will not be so easy and people are starting to argue already. More to come…

The Crash of 1929 / 2008

My, my, we live in interesting times. The financial chaos, greedy and stupid people caused, has escalated into a bona fide economic disaster.

I don’t pretend to be an economist but I am conflicted as to what actions our government should take if any.

I do know that the economic turmoil we and the world, yes the world, are now facing had a trigger, a cause that is verifiable. That cause was and is the sub-prime mortgage debacle that was allowed to happen by seemingly smart people who let greed triumph over their good sense.

We can argue about who to blame; the greedy lenders or the stupid borrowers, but I will have to lay the bulk of the blame on the lenders who made fat commissions on sub-prime mortgages that they then sold to financial institutions who re-sold them, etc. The lender knew that the sub-prime mortgage was very iffy but there were no rules to follow; rules are for banks but these lenders were mortgage brokers and unregulated.

The financial institutions knew what they were buying but they re-sold it without blinking an eye; they made their money and that is that! After a while, thousands of these mortgages were “bundled” into “mortgage backed securities” which sounded good because mortgages are solid – right? No one bothered to look how really stable were these mortgages that backed the securities until the shit hit the fan and the house of cards came tumbling down.

Looking at how this all came about, a true capitalist would say – let the market take care of itself. People and institutions will pay for their greed and stupidity because they have to, otherwise how will they learn from their mistakes?

But when 100+ year – old financial institutions like Bear Stearns and Lehmann Brothers started to fall, I knew we were entering uncharted waters. I was not around for the Wall Street collapse in 1929 and for the Depression of the 30s’ that followed but I bet there are similarities.

One thing I do know is that after the Stock market Crash of 1929 financial reforms and securities trading regulations were put into place to curb the rampant speculation and unregulated lending practices that contributed to the crash and thus help avoid or even prevent future crashes.

It is ironic that today, unregulated lending practices and rampant speculation and manipulation started us on a road to a crash that could have dwarfed the 1929 crash. BUT Ben Bernanke our Federal Reserve Chief is a “1929 Crash & Depression” scholar and has written some books on the subject.

He thinks that the Great Depression of the 30s’ could have been prevented or maybe, eased by making cheap capital available. In 1929, the government tightened the money supply and dried up credit and Bernake surmises that this caused or helped the Great Depression last so long. It really did not end until WWII.

And so our government, taking Bernake’s advice, is making cheap capital available – boy, are they making it available. We will hear numbers that will astound us and make “trillion” a common word in finance.

I am still having my doubts and will explore them in the coming days…

Detroiters reap what they sow!

I have not written about Detroit’s illustrious mayor, Kwame Kilpatrick, in quite some time. Much has happened in the meantime; he pled guilty to some felonies and will serve jail time and pay some restitution.

In his farewell speech he blamed the white, female governor for his demise because she instituted a hearing at the request of the black, city council to determine if he needed to be dismissed as mayor of Detroit. Kilpatrick vowed to return, ala Marion Barry of Washington, DC who was re-elected after jail time for drug dealing.

Kilpatrick cannot seek office for five (5) years so he will be back in 2012 and he probably will be re-elected.

In my past comments, I have alluded to a certain black, urban culture in Detroit that enables and even rewards the kind of lawless behavior and attitude as displayed by Kilpatrick. You will notice that no recall petition emerged out of Detroit and only a white, female governor could get him out of office.

I will say that a black, female, ex-judge, prosecutor was also instrumental in kicking the mayor in the balls and out of office.

I did get some support in my view by Leonard Pitts, Jr., a black columnist in Miami that is just an excellent observer of our society. In his column “Take race out of guilt equation” he takes the blacks of Detroit to task for defending the black mayor and blaming his troubles on “racial malfeasance”. He brought up Michael Jackson, OJ Simpson, Tawana Brawley, Mike Tyson and Marion Berry who also blamed whites for their troubles.

Pitts urged Detroit blacks to use their brains and not fall into the same ole’ racial trap but I think his advice will be lost on black Detroiters; even the black pastors in Detroit supported the mayor and still do and will lead the voters in re-electing him in 2012. Why? ; Because Kilpatrick ran the city for the blacks and only for the blacks. He hired blacks, family members, school buddies without thought as to competence. He also made some blacks rich by awarding them lucrative city contracts, legally and illegally.

It will be interesting to see who will replace Kilpatrick as mayor. Right now the president of the City Council will replace him temporarily until special elections are held this year.

UNIONIZATION COUNTERINTUITIVE!

To: The Detroit News
Re: “Wal-Mart’s anti-union agenda”, James P. Hoffa, Sept. 12.

Mr. Hoffa in his Labor Voices column again states that the Employee Free Choice Act will not remove secret ballot elections for workers deciding to form a union. To say that it does is just a scare tactic and is simply not true.

Under House Bill (H.R. 800) EFCA, an employer would no longer have the opportunity to demand a secret ballot election when a majority of employees have signed union cards and there is no evidence of illegal coercion. The same legislation would also revoke the ability for states to adopt a right-to-work state status.

Michigan’s economy is in dire straits while economies of states like Texas, Florida and Arizona are growing, along with their populations and their workers’ incomes. They are all right-to-work states and they are taking jobs from unionized Michigan. Legislation making unionization easier for the unions seems, when looking at economic reality, counterintuitive.

CONSERVATIVE HYPOCRISY - AGAIN!

To my relatives and friends who watch the Bill O’Reilly Show religiously and think O’Reilly is some kind of god let me tell you he is nothing less than an arrogant twit and you should be ashamed of watching and listening to his drivel.

Let me point out what a hypocrite he and his conservative fans really are.

O’Reilly had to make some really snide comments when the news about Britney Spear’s teenage sister’s pregnancy came out.

He seethed with disgust at the parents and the culture of adolescent sex that they promoted in their household. How could they? They were trailer trash that did not know any better and even though Britney made a lot of money, you can tell by her behavior that she is just trash.

Did you listen to him talking about Bristol Palin, pregnant teenage daughter of Sarah Palin, our next VP or even President.

He chided the media for interfering in a private family affair. He congratulated the parents for supporting their daughter in her time of need. She will marry the pimple faced kid that screwed her and live happily ever after.

Tell me what the difference is. There is no difference, both are teenage couples that had sex and the girls got pregnant. Spears is a slut and Bristol is a nice young girl?

O’Reilly is a HYPOCRITE big time and if you buy into his hypocrisy; you are also a HYPOCRITE and that means your opinions are invalidated because your thinking and rationale is highly suspect.

RUMOR: Obama has terrorist friends

Another rumor that people in my family believe is that Obama is friends with a terrorist; bosom buddies, and who needs a president with those kind of friends.

I tried to ask who this person is or what kind of terrorist is he but no specifics were known but probably an Arab terrorist because most terrorists are Middle Eastern Muslims - right?

Well, I remembered a rumor going around early on in the campaign. It had to do with Bill Ayers who was a Weather Underground leader in the 60 - 70s, during the Vietnam War. Yeah - the group was pretty radical and violent in those days. Barack was all of eight (8) years old at this time.

Ayers is now a professor at the University of Illinois and is a board member at the Woods Fund of Chicago; a fund established in 1941 to help the disadvantaged in Chicago.

The connection to Obama is that both served on the board of the Fund of Chicago at the same time; Obama is no longer on the board. I guess they were in the same room together and Obama said that he is some “guy that lives in my neighborhood” that he knows.

You tell me, is knowing this guy make Obama a supporter of a terrorist; an American terrorist from long ago? I think we can become too stupid in our rumor mongering!

RUMOR: Obama a Muslim

In discussing politics with family and friends, I became painfully aware that the Republican rumor/smear campaign is working.

A family member stated with all seriousness that he has heard and believes Barack Obama is a Muslim and was trained in a Muslim (terrorist) school.

I have already reported that union leaders are sounding the alarm that their union members are having trouble voting for a black man and now we add rumors that he is a closet Muslim terrorist.

It is easy to lose one’s temper upon hearing such nonsense and deride the person believing such nonsense as stupid, dim-witted and brainless but these people have a vote and they will vote what they believe or made to believe so we need to cool our emotions and try to confront the false rumors with actual facts that may or may not convince the people who like the rumors and prefer to believe in them even when shown to be false.

One very helpful website called: snopes.com actually tries to prove rumors, all rumors, especially the ones circulating on-line, either false, true or cannot be verified.

They have a whole page devoted to the Obama rumors especially the ones about him being Muslim and a terrorist.

Many rumors start with a grain of truth and then distort it. Yes, Obama’s father was born in Kenya and was raised a Muslim. By the time he married Obama’s mother, he was a declared atheist (non-practicing Muslim?). Anyway, he left the family when Obama was two (2) so not much influence there at all.

Obama’s mother married a Indonesian engineer and they did go to the Indonesia as a family. Here, young Barack attended first a Catholic school and then a Indonesian public school that because most Indonesians were Muslims can also be called a Muslim school. Still at a young age, Barack was sent back to the States to live with his grandmother and attend an American public school.

Barack Obama has been vetted by the media for a very long time now; if there was something to find, they would have found it by now so all we have left is rumors aimed to derail Obama with people that are eager to believe those types of rumors.

These people are closet racists (cause its not polite to be a racist anymore) and they are people that believe the U.S. is and always will be, Christian and white so Islam is a terrorist religion and that is that.

We can dispel rumors all we want but we need to convince these people (if possible) that McCain and Palin are actually not as good for our country as Obama and Biden are and that McCain’s people are trying to mislead you.

McCain will not solve the Iraq problem!

Richard Holbrook, writing in the magazine FOREIGN AFFAIRS (yes, I read that too) opined about what the new president will be facing when he takes office.

McCain supported Bush on Iraq and still thinks the “Surge” is somehow working. He wants a “victory” in Iraq even if it takes staying there 100 years. Well, we have 28,000 troops in South Korea and they have been there for 55 years so he would not be setting a precedent but would it be wise and how much it would cost us and what the hell would it accomplish.

Obama believes that there is no possibility of a military victory and guess what, so do most of the commanders on the ground in Iraq. All we can do is leave and see what happens. The place, I believe, will disintegrate into civil war so maybe Biden’s idea of partitioning the country would at least produce a semblance of a victory.

Afghanistan is heating up. It has been going on for eight years now and we are actually loosing. The next president will have some hard choices to make. McCain, just like Bush, is concentrating on Iraq and letting Afghanistan slide. Obama will get out of Iraq and take care of al-Qaeda once and for all and not become another Vietnam, which ran for 14 years (1961-1975).

The fact that Bush, with McCain’s support, ignored al-Qaeda, the terrorist organization has now re-built its structure and gained strength and moved into Pakistan where they can operate freely and may take a stab at taking over the country. The new president will have a reborn al-Qaeda to face and he can thank President Bush for that and his lap dog McCain, who will continue his master’s stupid ways.

There are many crucial foreign situations facing the new president. Let’s make sure the president is not a Bush clone like McCain or a hockey mom like Palin. Obama and Biden can take care of things overseas; at least I trust them to do the right and smart thing unlike the bozos in the GOP.

THE DAILY SHOW; reality behind Republican bullshit!

Last night I watched THE DAILY SHOW with JON STEWART. It is a satirical news show that is watched more than regular news shows. I love it and watch it every chance I get on the COMEDY CHANNEL.

During national political conventions, this show is a must. Yes, it is satirical and irreverent but boy do you get a clearer picture of what is really going on at the convention.

Last night, Jon Stewart started the show of by having his reporters report from the men’s room at the airport; the same men’s room where a Republican Senator was caught asking for more than a swatch of toilet paper – remember? It was hilarious but pointed out a truth about the moral, full of family and religious values Republicans; they are a bunch of hypocrites with many of them being caught this year performing very immoral and unethical acts – remember?

Another piece examined the GOP reactions to the media’s probe of Sarah Palin including her family. Republicans bemoaned as just unacceptable how the media was swarming around the mother, wife and governor, Sarah Palin, as if to say it is somehow inappropriate. In the same piece, the same Republicans were caught on tape saying some time ago that Hillary Clinton should not hide behind her womanhood and expect any different treatment by the media than men get – stop whining bitch and get on with it – if you can’t stand the heat, get out of the kitchen!– hypocrites!

Another hum-dinger was showing Republicans attack the media when they reported on Palin’s 17 year old daughter being five months pregnant. They said that it was a private matter (even though Palin announced it). Palin said that it was her daughter’s choice to keep the baby and we should respect her choice BUT Palin is ANTI-CHOICE and she will not respect or permit other females to have a choice – what do you say about that you fuckin’ hypocrites!

I thank the Daily Show for pointing out the reality behind all that Republican bullshit!