The Hiker's Guide to History - Joel McMahon's Blog

AIG and the American Dream

America is outraged at the hubris displayed by AIG in distributing over $200,000,000 in bonuses to a handful of executives.  The American People own 80% of AIG, yet the company and its government overseers, Secretary of Treasury Geitner and the Congressional committee chaired by Senator Christopher Dodd of Connecticut, saw fit to pay retention bonuses to the very individuals who ran the company into the ground.  America is angry.  And my perception of the obvious is most astute.

Some pundits say that the anger is unjustified and that it is just another expression of liberal "wealth envy" and hatred of capitalism.  I'm liberal, and I love capitalism.  What I believe drives most Americans' anger is not the desire to punish AIG executives, which I am sure is justified in some cases.  And I don't think many expect the AIG execs to somehow return their ill-gotten booty to government coffers so it can be redistributed to those who need it more. 

What angers Americans is that we want to see other Americans succeed in this horrible economic climate because they worked hard, made good decisions when the odds were against them, and made wise decisions in good times that would protect against the negative effect of a economic downturn. 

We want to hear about investors who had the savvy to pull out of the market just before the crash.  We want to hear about banks that knew not to jump into the cesspool of sub-prime mortgages.  We want to hear about insurance companies that remain solid in spite of hurricanes, wildfires, floods, and tornadoes.  We want to hear about companies who turn a profit because they have a superior product, not because they had a good run of luck in the derivatives markets. 

Americans want to see success rewarded because of smart work, hard work and good work. America does not want to see other Americans rewarded for failure, bad decisions, and costly decisions.  America does not want to reward the undeserving just because they negotiated a contract that included a few selfish turns-of-phrase or strategically placed words.  America wants to reward hard work in tough times, not well-placed words in a complex contract. 

To see failure rewarded runs contrary to the American Dream.  The American Dream is based on a healthy mix of hard work and good luck, not strategic words and loopholes.

Bull Trap

President O'Bama's critics, and there are many, have used the DOW as the measure of the man's ability to guide the nation through the worst economic storm since the Great Depression.  The DOW, Kudlow, Cramer, Matthews, Santelli, Hannity and Limbaugh claim, has dropped precipitously because of the election and inauguration of Barack O'Bama. The DOW, say the critics, is the measure of the future and the gauge of confidence the markets have in "O'Bama's plan."  Careful slaying monsters, lest you become one.

If a DOW drop is the measure of failure, the litmus test of the plausibility of profitability, would a DOW rally be the measure of success?  What will the critics say if the DOW runs toward 10,000, the floor broken during the Bush administration?  What will the critics point to when the DOW runs up three hundred points in a day . . . like today.  Last time I checked, 300 points of a 6500 DOW is darn close to 5%.  Oh, the days when we had 5% days!! 

If O'Bama receives blame for the drop in the DOW, should he not receive credit for the bull rally?  Have the hyper-critical O'Bama haters created for themselves a Bull Trap?

Limbaugh/Palin 2012

So it begins.  I like to get an early start on things, so I am throwing my weight behind the logical and foregone conclusion for the 2012 Republican Presidential ticket: Limbaugh/Palin 2012.  I am having bumper stickers printed this week, so if anyone would like one, please let me know. The reason I like Rush for president in 2012, besides the fact that his name is but one letter away from "Bush," is because of his views regarding race, gender and the Constitution are so . . . intriguing. 

Below is a compilation of  Rush at his best: 

"He is exaggerating the effects of the disease. He's moving all around and shaking and it's purely an act. ... This is really shameless of Michael J. Fox. Either he didn't take his medication or he's acting." --on an ad by Michael J. Fox endorsing Claire McCaskill for Senate for supporting embryonic stem cell research (Watch video)

"And don't forget, Sherrod Brown is black. There's a racial component here, too. And now, the newspaper that I'm reading all this from is The New York Times, and they, of course, don't mention that." --on the 2006 Ohio Senate primary race involving then-Rep. Sherrod Brown (D-OH), who is white

"This is no different than what happens at the Skull and Bones initiation...I'm talking about people having a good time, these people, you ever heard of emotional release? You ever heard of the need to blow some steam off?" --on the Abu Ghraib prisoner abuse scandal

"Too many whites are getting away with drug use...Too many whites are getting away with drug sales...The answer is to go out and find the ones who are getting away with it, convict them, and send them up the river, too." --in 1995

"I am addicted to prescription pain medication." --in 2003

"Feminism was established so as to allow unattractive women easier access to the mainstream of society."

"We're not sexists, we're chauvinists -- we're male chauvinist pigs, and we're happy to be because we think that's what men were destined to be. We think that's what women want."

"She comes to me when she wants to be fed. And after I feed her -- guess what -- she's off to wherever she wants to be in the house, until the next time she gets hungry. She's smart enough to know she can't feed herself. She's actually a very smart cat. She gets loved. She gets adoration. She gets petted. She gets fed. And she doesn't have to do anything for it, which is why I say this cat's taught me more about women, than anything my whole life." --on his cat

"She sounds like a screeching ex-wife." --on Sen. Hillary Clinton

"I've been racking my brain. I've been trying to figure out how Bob Dole's luggage got on my airplane...I told the doctor, I said, 'Look, I'm worried about the next election.' ... A misunderstanding." --after he was detained by custom officials for possessing Viagra with a prescription made out in someone else's name

"The NAACP should have riot rehearsal. They should get a liquor store and practice robberies."

"They oughtta change Black History Month to Black Progress Month and start measuring it."

"Look, let me put it to you this way: the NFL all too often looks like a game between the Bloods and the Crips without any weapons. There, I said it."

"Sorry to say this, I don't think he's been that good from the get-go. I think what we've had here is a little social concern in the NFL. The media has been very desirous that a black quarterback do well." --on Philadelphia Eagles quarterback Donovan McNabb, while working as a commentator on ESPN

"The only way to reduce the number of nuclear weapons is to use them."

"There are more acres of forestland in America today than when Columbus discovered the continent in 1492."

"I know these people like I know every square inch of my glorious naked body." --on Democrats

Rush/Palin 2012

What else would a good Democrat want?