Townhall.com, Where Your Opinion Counts
Talk Radio:   Bill Bennett   Mike Gallagher   Dennis Prager   Michael Medved   Hugh Hewitt   
BREAKING NEWS  LeftArrow - Townhall.com : Conservative, Political, Republican   RightArrow - Townhall.com : Conservative, Political, Republican  
Columns, funnies & more in your inbox!
  • Check the boxes and send us your email address to receveive your free newsletter
  • Your daily must-read of conservative columns, cartoons and news. Coulter, Sowell, Krauthammer and more.
  • Townhall.com’s weekly inside scoop on what’s happening behind the scenes in the world of politics. When news breaks, we report.
  • Signup to receive the latest daily Townhall cartoons
Monday, February 02, 2009
John McCaslin :: Townhall.com Columnist
Real Steal
by John McCaslin
Vote on It:
Average Vote:
[+] Text [-]
 
Poll
Will the Dems' health care Christmas Present to America be an improvement or detriment to our health care system?


With the assistance of Alexander Hamilton and James Madison, he composed a "Farewell Address" to the nation designed "to inspire and guide future generations." His principal concern was for the safety of the eight-year-old Constitution, fearing that the stability of the Republic was threatened by "political factionalism."

"Writing at a time before political parties had become accepted as vital extraconstitutional, opinion-focusing agencies, Washington feared that they carried the seeds of the nation's destruction through petty factionalism," explains the Senate historian.

EXHORT AWAY, SIR

Friday's maiden speech on the Senate floor of newly elected Sen. Mark Udall of Colorado was uncommon, given the Democrat didn't speak about specific legislation, rather "the perils we face, and my sincere hope that we will address the critical issues … with less rancor … to bridge the partisan divide."

Mr. Udall bucked the tradition, as he put it, "in which freshmen senators took some considerable time before … opening their mouths, and hoping to enlighten their wiser and more experienced colleagues."

CARTER DEFENSE

Former Vice President Dick Cheney, in his recent exit-interview with CNN's Wolf Blitzer, sought to compare today's economic crisis to the "malaise" of the late 1970s, when Jimmy Carter ruled the roost.

"There was not a crisis," Mr. Carter now answers Mr. Blitzer. "There was a very bad international situation because Iraq invaded Iran. And the world lost all the oil that had been coming out of both of those countries so inflation was rampant and it was bad.

"But it wasn't any crisis like this with very high unemployment and the prospects of future very bad but also with the banks failing and major corporations going under and untold numbers of unemployed. And I think by the end of this year we'll probably see the unemployment rate go up more."

1 2
| Full Article & Comments | < Previous
Share:
Vote on It:
Average Vote:
 
About The Author

John McCaslin is a contributing columnist on Townhall.com and author of Inside The Beltway: Offbeat Stories, Scoops, and Shenanigans from around the Nation's Capital .

Be the first to read John McCaslin's column. Sign up today and receive Townhall.com delivered each morning to your inbox.

Bob & Rich well said
Over 30 years ago a course called the fundamentals of credit listed only two qualifications that needed to be checked by a grantor when extending credit.

1. Capacity. Does the the debtor have the ability, income, in short the capacity to pay the debt.

2. Character. Based on past performance does the debtor show the willingness aka character to pay the debt.

Any credit grantor that ignores these two fundamentals and basis his credit decision on the value of the collateral, the "stated income" without verification of the debtor has become a partner in the crime of theft, taking money under false circumstances.

When the banks, mortgage companies, real estate agents, credit rating agencies and government at all levels became part of bigger fool pyramid scheme (I am a fool to pay this price but there is a bigger fool who will pay more) you end up with a total meltdown of the finance and real estate markets. Some of these ceo's like those of Indy Mac and Lehman Bros should be looking at jail time. Their enablers in the congress like Frank, Pelosi, Reid show never be allowed in public office again.

RICH BUT NOT WEALTHLY
What makes me mad is many people at the top knew this mortgage business was a house of cards, but none of them sent up the red flags as a warning to smaller mortgage companies or borrowers. McCain tried to but no one listened, while Barney Frank was publicly stating that Freddie and Fannie were doing just fine.
We peons at the lower level saw this coming, but were not decisions makers at the upper level. Where was the common sense among all of these brillant, high paid, over paid, executives?



Sign Up to Post Your CommentsSign Up to Post Your Comments
If you are already registered, click here to login. Otherwise, please take a few seconds to register with Townhall.com. Once you sign up, you’ll be able to post your comments immediately, use the action center, get podcasts, and more!
Note: Fields marked with a red asterisk (*) are required.
Salutation:
First Name:
*
Last Name:
*
Email:
*
Nickname:
*
Note: Nick name will be shown when you post comments.
Address 1:
*
Address 2:
City:
*
State:
*
Zip:
*
Phone:
      
Your daily must-read of conservative columns, cartoons and news. Coulter, Sowell, Krauthammer and more.
(Bi-Weekly) We highlight the best opportunities from our partners for surveys, action items and more.