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Archive for May, 2009

An interesting perspective from a businessman in Maryland.  Of course, his opinions, as expressed, are his own, but there is a reason I chose to reprint this here (originally posted with permission at RedPill):

April 9, 2009

The White House
1600 Pennsylvania Avenue NW
Washington , DC 20500

Mr. Obama:

I have had it with you and your administration, sir. Your conduct on your recent trip overseas has convinced me that you are not an adequate representative of the United States of America collectively or of me personally.

You are so obsessed with appeasing the Europeans and the Muslim world that you have abdicated the responsibilities of the President of the United States of America.

You are responsible to the citizens of the United States. You are not responsible to the peoples of any other country on earth. I personally resent that you go around the world apologizing for the United States and telling Europeans that we are arrogant and do not care about their status in the world. Sir, what do you think the First World War and the Second World War were all about if not the consideration of the peoples of Europe? Are you brain dead? What do you think the Marshall Plan was all about?
Do you not know or understand the history of the 20th century?

Where do you get off telling a Muslim country that the United States does not consider itself a Christian country? Have you not read the Declaration of Independence or the Constitution of the United States? This country was founded on Judeo-Christian ethics, and the principles governing this country, at least until you came along, come directly from this heritage. Do you not understand this?

Your bowing to the king of Saudi Arabia is an affront to all Americans. Our President does not bow down to anyone, let alone the king of Saudi Arabia. You don’t show Great Britain, our best and one of our oldest allies, the respect they deserve yet you bow down to the king of Saudi Arabia. How dare you, sir! How dare you!

You can’t find the time to visit the graves of our greatest generation because you don’t want to offend the Germans but make time to visit a mosque in Turkey. You offended our dead and every veteran when you give the Germans more respect than the people who saved the German people from themselves. What’s the matter with you?

I am convinced that you and the members of your administration have the historical and intellectual depth of a mud puddle and should be ashamed of yourselves, all of you. You are so self-righteously offended by the big bankers and the American automobile manufacturers yet do nothing about the real thieves in this situation, Mr. Dodd, Mr. Frank, Franklin Raines, Jamie Gorelic, the Fannie Mae bonuses, and the Freddie Mac bonuses. What do you intend to do about them? Anything? I seriously doubt it.

What about the U.S. House members passing out $9.1 million in bonuses to their staff members — on top of the $2.5 million in automatic pay raises that lawmakers gave themselves? I understand the average House aide got a 17% bonus. I took a 5% cut in my pay to save jobs with my employer.

You haven’t said anything about that. Who authorized that? I surely didn’t! Executives at Fannie Mae and Freddie Mac will be receiving $210 million in bonuses over an eighteen-month period, that’s $45 million more than the AIG bonuses. In fact, Fannie and Freddie executives have already been awarded $51 million — not a bad take. Who authorized that and why haven’t you expressed your outrage at this group who are largely responsible for the economic mess we have right now.

I resent that you take me and my fellow citizens as brain-dead and not caring about what you idiots do. We are watching what you are doing and we are getting increasingly fed up with all of you. I also want you to know that I personally find just about everything you do and say to be offensive to every one of my sensibilities. I promise you that I will work tirelessly to see that you do not get a chance to spend two terms destroying my beautiful country.

Sincerely,
Franklin T. Bell, CFM, RPA, FMA
7239 Swan Point Way
Columbia, MD 21045

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While I’m never really one for government regulation (yes, I’m a Reagan conservative), I have to praise the President for his recent legislation forcing more transparency from the credit card companies.

I want to be clear about this:  Credit card companies provide a valuable service; we don’t begrudge them turning a profit.  We just want to make sure that they do so while upholding basic standards of fairness, transparency, and accountability.  Just as we demand credit card users to act responsibly, we demand that credit card companies act responsibly, too.  And that’s not too much to ask.

obama_sc_04_01_2007-731285And that’s why, because of this new law, statements will be required to tell credit card holders how long it will take to pay off a balance and what it will cost in interest if they only make the minimum monthly payments.  We also put a stop to retroactive rate hikes that appear on a bill suddenly with no rhyme or reason.

Every card company will have to post its credit card agreements online, and we’ll monitor those agreements to see if new protections are needed.  Consumers will have more time to understand their statements as well:  Companies will have to mail them 21 days before payment is due, not 14.  And this law ends the practice of shifting payment dates.

Lastly, among many other provisions, there will be no more sudden charges — changes to terms and conditions.  We require at least 45 days notice if the credit card company is going to change terms and conditions.”

I would disagree with some of what President Obama said.  For starters, I think his ongoing domestic policy proves that he doesn’t “…demand credit card users to act responsibly,” and I am afraid to praise too liberally (pun intended) this new policy, as I am sure that there are some provisions that are not necessarily for the benefit of consumers.

Further, if you’re going to force some regulation, I would have liked to see a strengthening/tightening of the bankruptcy rules again.  Obviously, the most recent changes didn’t help as bankruptcies were on the rise even before we got into this time of “economic challenge.”

And I’m still waiting to see someone in Washington or the media start looking at our economic futures positively – there is a future, things will get better, but only if we stop wallowing and start telling people they can have hope – REAL hope.

Well, at least he’s not using the regulation as leverage to take over Mastercard, Visa & American Express… At least not YET.

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Our friend Phil Cooke has just published an article on his site entitled, “How Confidence Can Change Everything in this Economy.”  He points out what economist Ben Stein (yes, he is much more than the teacher from Ferris Bueller) has said that many in our media and government seem to want to forget, that our financial system isn’t built on printing money or regulation, it’s built on confidence.

It’s a perception issue. When investors feel confidence in the market, it soars.

Of all people, Christians should be the most confident, because even in the worst circumstances, our hope isn’t in money.

Take a moment to check out Phil’s article here, then become an example of encouragement and TRUE hope in this time of economic distress.

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31g64e58wal_sl150_I just posted a number of new Christian books and music on my Amazon reseller site, including a rare Mylon LeFevre and Broken Heart cassette, “Crack the Sky,” still sealed in shrinkwrap.  I’m dating myself here, but I remember buying the album before it was commercially released, at their concert back in 1987, with the NewsBoys.  Boy have times changed.  Take a moment to check out my Amazon site if you’re looking for Christian music or books, old or vintage.  Thanks!


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