HOWARD’S DAILY CHRONICLE
NUMBER 17 VOL 14
WEDNESDAY SEPTEMBER 17TH 2008
WEATHER; WARM, HIGH HUMIDITY, 56/80 DEGREES
HERE WE GO AGAIN! VERY SLOW TODAY, MOM WENT IN TO TAKE KYLIE SOMEPLACE, I DON’T REMEMBER WHERE! I WATCHED A COUPLE OF OLD MOVIES, THE BUCCANEER AND SABOTEUR! THEY WERE GOOD FOR A CHANGE. I’M GETTING SICK OF ALL THE POLITICAL GOBBLDY GOOP! HE SAID SHE SAID B.S.! IT DOESN’T MAKE ANY DIFFERENCE WHO GETS ELECTED THERE’S NO WAY THEY’RE GOING TO TURN THE MESS AROUND IN 4 YEARS! BUSH HAD 8 TO SCREW IT UP!
I GOT AN INTERESTING PIECE OF INFORMATION FROM MY YOUNGEST SON TIM TODAY AND FIGURED IT WAS WORTH PASSING ON FYI;
FROM WWW.ELECTORAL-VOTE.COM
GOVERNMENT BAILS OUT A.I.G.
AFTER SEVERAL DAYS OF SAYING IT WOULD NOT BAIL OUT THE NATION'S LARGEST INSURANCE COMPANY, A.I.G., THE GOVERNMENT BAILED OUT A.I.G. RISKING $85 BILLION OF THE TAXPAYERS' MONEY. IN RETURN, THE GOVERNMENT GOT 80% OF THE NOW NEAR-WORTHLESS STOCK. IN OTHER COUNTRIES, WHEN THE GOVERNMENT EFFECTIVELY BUYS (NEARLY) ALL OF A COMPANY'S STOCK, IT IS CALLED NATIONALIZATION. WHO WOULD HAVE THOUGHT THAT THE BUSH-CHENEY ADMINISTRATION WOULD GO MARXIST-LENINIST IN ITS WANING HOURS? TREASURY SECRETARY HENRY PAULSON WAS CLEARLY AFRAID A.I.G.'S DEMISE WOULD TAKE OUT TOO MANY OTHER BIG PLAYERS AND WREAK MASSIVE DAMAGE ON THE ECONOMY. THE MOVE WILL BE VERY CONTROVERSIAL SINCE IT RISKS PUBLIC MONEY TO PROTECT BAD INVESTMENTS MADE BY A.I.G. MANAGEMENT. THE POLITICAL FALLOUT WILL BE IMMENSE.
THIS NATIONALIZATION POSES AN ESPECIALLY LARGE CHALLENGE FOR JOHN MCCAIN, WHO IS NOW RAILING AGAINST CORPORATE GREED AND LACK OF GOVERNMENT REGULATION OF THE FINANCIAL INDUSTRY. WHAT HE DOESN'T TALK MUCH ABOUT IS HOW DEREGULATION HAPPENED. IT WAS THE 1999 GRAMM-LEACH-BLILEY ACT THAT REPEALED THE 1933 GLASS-STEAGALL ACT AND THUS ELIMINATED THE DEPRESSION-ERA WALLS BETWEEN BANKING, INVESTMENT, AND INSURANCE THAT MADE THIS CRISIS POSSIBLE. GLASS-STEGALL ERECTED WALLS BETWEEN BANKING, INVESTMENT MANAGEMENT, AND INSURANCE, SO PROBLEMS IN ONE SECTOR COULD NOT SPILL OVER INTO THE OTHERS, WHICH IS PRECISELY WHAT IS HAPPENING NOW. THE PRIMARY AUTHOR OF THE GRAMM-LEACH-BLILEY ACT WAS NONE OTHER THAN MCCAIN'S ECONOMIC ADVISOR, FORMER SENATOR PHIL GRAMM (WHO THINKS THE COUNTRY IS IN A "MENTAL RECESSION"). MCCAIN FULLY SUPPORTED THE BILL AND HAS A DECADES-LONG TRACK RECORD OF OPPOSING GOVERNMENT REGULATION OF THE FINANCIAL INDUSTRY. HIS NEW-FOUND CONVERSION TO BEING A FAN OF REGULATION IS GOING TO BE A TOUGH SELL AS OBAMA IS ALREADY POINTING OUT THAT MCCAIN GOT WHAT HE WANTED (DEREGULATION) AND THIS IS THE CONSEQUENCE.
TIMOTHY MAHONEY
I KNOW IT’S POLITICAL BUT IT’S GETTING SO THAT’S ALL THAT’S WORTH REPORTING ANYMORE!
QUITE A FEW YEARS AGO LOU WATT AND I WERE PROWLING AROUND ON THE “UNIVERSAL STUDIOS” BACK LOT WHERE ALL THE WESTERN TOWNS AND SETS ARE! WE CAME ACROSS A BIG WAREHOUSE THAT WASN’T LOCKED SO WE WENT IN AND COULDN’T BELIEVE WHAT WE HAD FOUND; IT WAS THE MODEL BUILDING WHERE THE MODEL MAKERS DID THEIR WORK! TO A COUPLE OF YOUNG BOYS WHO BUILT MODELS THIS WAS A REAL TREASURE! IN ONE SECTION THERE WERE ALL KINDS OF GUNS MADE OUT OF WOOD BUT THEY WERE PAINTED TO LOOK LIKE THE REAL THING! MILITARY WEAPONS LIKE THE MUSKETS USED IN THE OLD TIME INDIAN MOVIES I.E. LAST OF THE MOHEGANS, THE ONE ABOUT LEWIS & CLARK GOING TO THE PACIFIC OCEAN! THE RIFLES AND THOMPSON MACHINE GUNS USED IN “BATTAN” AND OTHER WWII MOVIES! THEN THE WINCHESTER LEVER ACTION 30-30, THE OLD “HOG LEG” 44 CAL PISTOL! THERE WAS A SECTION THAT HAD OLD SAILING SHIPS AND AIRCRAFT CARRIERS, CRUISERS, DESTROYERS, THE CONNING TOWER CONTROL ROOM OF A SUBMARINE WITH ALL THE DUMMY GAGES AND CONTROLS INCLUDING A PERISCOPE THAT ACTUALLY WENT UP AND TURNED AROUND BUT THE EYE PIECE WAS BLANK!
WE STAYED AND PLAYED IN THERE FOR A WHILE AND THEN WENT OUT AND LOCKED THE DOOR BEHIND US THAT SOMEBODY COULD HAVE GOTTE FIRED FOR LEAVING UNLOCKED!
THEN WE FOUND THE REAL GUN SHED BUT IT WAS LOCKED UP TIGHT! WE COULD SEE ALL THE GUNS THRU THE BARED WINDOWS AND WISHED WE COULD HAVE GOTTEN IN THERE TO PLAY WITH THEM! THERE WASN’T ANY REAL AMMO OR BLACK POWDER WITH THEM. WE DIDN’T TAKE TIME TO FIND THAT SHED BUT I’LL BET IT WAS A CONCRETE BUILDING BUILT INTO THE SIDE OF THE MOUNTAIN SOME PLACE AWAY FROM THE GUN SHED!
IT WAS GETTING LATE SO WE HEADED BACK TO WHERE WE LEFT OUR BIKES AT THE BOTTOM OF A HILL THAT WAS COVERED WITH PINE NEEDLES! THIS HILL WAS USED TO TEACH MOVIE PEOPLE HOW TO SKI, WE FOUND A COUPLE OF BIG CARDBOARD BOXES AND SLID DOWN FOR A WHILE BUT THE CLIMB BACK UP WAS JUST TOO MUCH SO WE HEADED FOR HOME! WE DIDN’T KNOW THAT THERE WERE ARMED GUARDS WHO HAD ORDERS TO SHOT ANY TRESPASERS BUT THEY MUST HAVE BEEN OFF SOMEWHERE ELSE WHEN WE WERE THERE! LOU TOLD HIS DADWHAT WE HAD BEEN DOING AND HE TOLD LOU ABOUT THE ARMED GUARDS! WE NEVER WENT BACK THERE AGAIN!
MORE ABOUT THE YOUNG LIFE OF HOWARD MAHONEY
THAT’S “30” FOR THIS ISSUE.
HOWARD
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