Crooks & Liars

Power corrupts. Absolute power corrupts, absolutely

This week, while many Americans were enthralled with Republican Vice Presidential nominee Sarah Palin's soap opera-like home life, another distraction developed.

You might have heard about it: Detroit Mayor Kwame Kilpatrick had affair with top aide, sends explicit text messages, lies about it under oath and is now, unemployed, headed to jail and owes the city $1 million.

At the same time Kilpatrick stood before microphones announcing his plans for a come-back and kissing his wife, another criminal wept and begged for leniency for what he did.

Notorious lobbyist Jack Abramoff received an additional four years in prison (he's already serving two) and was fined $23 million in restitution for his role in receiving kickbacks, duping American Indian tribes in four states by charging exorbitant fees for his services to increase his profits and bribing public officials with decadent gifts, meals and trips. (Funny how the public officials received all the goodies, but Abramoff is the one behind bars.)

At their core, both Kwame Kilpatrick and Jack Abramoff are the same. Both are crooks and liars, and both received lighter sentences than were initially sought for their crimes. Heck, they even appear to have the same fashion sense (check the pics).

The only real differences between these two people are their skin color and political affiliation. Oh, and while the white Republican Abramoff raked in multiple millions of dollars for his transgressions, the black Democrat Kilpatrick lost it all over a piece of ass.

Forgive me if I offended anybody's sensitive predispositions, but let's call a spade, a spade.

At their core, both these men are crooks and liars. We just heard more about one last week, than the other.

We also heard a lot about Sarah Palin.

While many Americans were riveted by tales about the Republican Vice Presidential Nominee, President George W. Bush quietly promised to send the former Soviet Republic of Georgia $1 billion in aid, a BILLION DOLLARS of OUR money.

But since Americans are currently strapped for cash, and our economy tanking, WE are going to borrow that billion dollars from places like China and Saudi Arabia. We, our children and our children's children will no doubt repay the debt, plus interest, over time.

Our old enemy-turned-ally-turned-quasi enemy Russia recently bombed much of Georgia.
The money isn't meant to be rubbed in Russia's face, President Bush said. It will be used for - get this - economic and humanitarian assistance.

Just a few days following this billion-dollar decision, the federal government announced today it would seize control of the troubled mortgage giants Fannie Mae and Freddie Mac.

``It is necessary to take action,'' Treasury Secretary Henry Paulson, who engineered the takeover along with Federal Housing Finance Agency Director James Lockhart, said in Washington Sunday. ``Our economy and our markets will not recover until the bulk of this housing correction is behind us. Fannie Mae and Freddie Mac are critical to turning the corner.''

The takeover is being sold as a way to help shore up the economy, and help people save their homes from foreclosure.

In what is being called the largest government bailout in history, the takeover means the government can inject our taxpayer money, as needed, to help shore up the two finance companies, as well as, global markets.

Here's the kicker: This move won't help people facing foreclosure keep their homes, nor will it help common investors. This move does offer some protection for "preferred stockholders."

Who are these preferred stockholders? Just countries like China and Saudi Arabia. In fact, China is the largest holder Freddie and Fannie's preferred bonds. (Sources: NPR and Warren Buffet)

Now, I'm not saying Georgia, Freddie or Fannie don't need help, nor am I calling Bush a crook or a liar (maybe he just doesn't know how much trouble the U.S. economy is in).

I just want to call attention to other things happening under our noses and being done in our names, but not necessarily with our consent.