Clear Fog Blog

Political musings from Warren E. Peterson

Archive for October, 2008

Sub-Prime Fiasco – The Best Explaination Yet!

Posted by Warren Peterson on October 31, 2008

A friend sent me the below link that explains the sub-prime mortgage mess about as well as any I’ve seen. Fair warning though, it contains obscene language including the well known four letter words beginning with “F” and “S” but in this case, the language is appropriate.

Click on the blue words below:

explaining the sub-prime fiasco


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From the Net – A Famous Detective Questions Obama

Posted by Warren Peterson on October 30, 2008

A friend sent me this; humorous but the facts presented should give Obama supporters pause.

Sorry to bother you Mr. Obama, Sir?
Excuse me Mr. Obama, I mean Senator Obama, sir. Um . . know you are busy and important and stuff. I mean running for president is very important and . . . ah . .. . I hate to bother you. I will only take a minute ok, sir?
See, I have these missing pieces that are holding me up, and I was wondering sir, if you could take time out of your busy schedule and help me out. You know, no big deal, just some loose ends and things.
?I can’t seem to get some information I need to wrap this up. These things seem to either be “locked” or “not available’. I’m sure it’s just some oversight or glitch or something, so if you could you tell me where these things are . . . I . . I . . . have them written down here somewhere . . . oh wait. Sorry about the smears. It wa s raining out. I’ll just read it to you.
Could you help me please find these things, sir?
1. Occidental College records — Not released
2. Columbia College records — Not released
3. Columbia Thesis paper — not available, locked down by faculty
4. Harvard College records — Not released, locked down by faculty
5. Selective Service Registration — Not released
6. Medical records — Not released
7. Illinois State Senate schedule — “not available”
8. Law practice client list — Not released
9. Certified Copy of original Birth certificate – – Not released
10. Embossed, signed paper Certification of Live Birth — Not released
11. Harvard Law Review articles published — None
12. University of Chicago scholarly articles — None
13. Your Record of baptism– Not released or “not available”
14. Your Illinois State Senate records–“not available”
You couldn’t get a job at McDonalds and become district manager aft er 143 days of experience.?
You couldn’t become chief of surgery after 143 days of experience of being a surgeon.?
You couldn’t get a job as a teacher and be the superintendent after 143 days of experience.?
You couldn’t join the military and become a colonel after 143 days of experience.?
You couldn’t get a job as a reporter and become the nightly news anchor after 143 days of experience.?


‘From the time Barack Obama was sworn in as a United State Senator, to the time he announced he was forming a Presidential exploratory committee, he logged 143 days of experience in ?the Senate. That’s how many days the Senate was actually in session and working. ?After?143 days of work experience, Obama believed he was ready to be Commander In Chief, Leader of the ?Free World …. 143 days.?
We all have to start somewhere. The senate is a good start, but after 143 days, that’s all it is – a ?start.?
AND, strangely, a large sector of the American public is okay with this and campaigning for him. We wouldn’t accept this in our own line of work, yet some are okay with this for the President of the ? United States of America ? ?Come on folks, we are not voting for the next American Idol!?
Please, please forward this before it’s too late!!!!

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Colin Powell Endorses “The One”

Posted by Warren Peterson on October 24, 2008

I have great respect for former Secretary of State General Colin Powell. He has a long record of honorable service to the nation including key positions in the Bush 41, Clinton and Bush 43 administrations. Never known as a conservative, his politics are liberal Republican at best and since his endorsement of Obama on “Meet the Press”, perhaps not even that.

Some bloggers and talk radio hosts say he did it because of race but I doubt that. Catholics voted for Kennedy, Mormons supported Romney, many women wanted Hillary and African-Americans, already overwhelmingly in the Democrat camp, are hard over for Obama; all perfectly understandable. All things being equal, Powell might have used race as his tiebreaker but his reasons for endorsing Obama were through a liberal lens not a racial one. It is those views that are subject to challenge.

The Republican Party has moved too far right. Really! Then how come McCain is the Republican nominee for president? He defeated several candidates to his right – Hunter, Brownback, Thompson, Romney.

McCain was unsure as to how to deal with the economy. And who was, Barney Frank? McCain was at least willing to enter the fray while Obama said “Call me if you need me.” Obama has a history of voting “present.”

Sarah Palin is not ready to be president. Powell has known McCain for years. He met with Obama at least twice. But he never talked to Governor Palin. Did he rely on Katie Couric and Charlie Gibson’s edited interviews? Or did he just not like her non East Coast worldview? He certainly gave her no slack for her shaky start on the national stage but calls the often wrong still gaff prone after a quarter century on the same stage Biden ready for the Oval Office.

He would have difficulty with two more conservative judges on the Supreme Court. Apparently, two liberal judges would be just fine. To be fair, he seeks diplomatic balance in everything. Which is the better judicial or political philosophy does not count.

He is concerned about some anti Muslim expressions from some Republicans. Yet he seems unconcerned about Obama’s long time association with radicals like Rev. Wright, an avowed terrorist like William Ayers or far left groups such as ACORN. I don’t think Obama is a secret Muslim but I understand why people are concerned since the primary source of terrorist activity in the world today is radical Islam.

Obama has intellectual curiosity, a depth of knowledge and would be a transitional figure. Age and race make Obama a transitional figure but his entire academic and political life has been immersed in the influence of the far left. As the saying goes “Can the leopard change its spots?”

The good general is buying into a dream; a hope against hope that “The One” can meet the Everest high expectations assigned to him. If Obama wins, reality will be a rude awakening.

Also see Obama, End of American Racism

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Some Election Suggestions

Posted by Warren Peterson on October 24, 2008

King County Charter Amendments:

#1 – Elected Elections Director – This is in response to the King County elections scandal of 2004 when votes for Gregoire kept appearing until she had enough to declare victory. In the long run, it solves nothing. In a Democrat or Republican controlled county, the election of a partisan as elections director is as much or more likely than an executive appointed council approved director. VOTE NO.

#2 – Prohibiting Discrimination – Who can be against banning discrimination by King County against homosexuals or the disabled? Ask the Boy Scouts who would not be allowed to rent or use county facilities because they don’t let gay men be scout leaders. Some way to allow exceptions to the rule is needed. VOTE NO.

#3 – Regional Committees – VOTE YES.

#4 – Additional Qualifications for Elected Officials. – Now get this, before someone could run for sheriff, assessor or elections director (see #1), they’d have to meet qualifications set by the County Council. Surely they jest. What an opportunity for political mischief. VOTE NO.

#5 – Establishing Forecast Council and Office of Economic and Financial Analysis – A country economist, if truly independent, would be useful for planning and budgeting. Hopefully, the office could support other local governments. VOTE YES.

#6 – Budget Deadlines – VOTE YES.

#7 – Charter Amendment by Citizen Initiative – This would make it more difficult for voters to change the county charter by initiative. Power to the People. VOTE NO.

#8 Non Partisan Elections – This would make the County Council, County Executive and Assessor non-partisan offices. The Seattle mayor and council are non-partisan, right? Sure they are. Deleting political parties does not guarantee good government but it does remove one more bit of information voters can use to judge candidates. Information that may indicate the most likely candidate view point on issues like land use, business climate, government programs, taxes and spending. VOTE NO.

Sound Transit Proposition 1 to expand mass transit – This puts us close to a 10% sales tax and spends billions (they say $17.9B) primarily to push light rail across I-90 to the East side, north to Northgate and south from Sea-Tac to Redondo/Star Lake. The list of reasons to vote no is too long to list but let’s see how well the current light rail works before we plunge into another light rail gamble. VOTE NO.

City of Seattle

Proposition 1 – Pike Place Market and
Proposition 2 – Six Year Property Tax for Parks

This is not the climate for raising property taxes. Try taking a hard look at the city budget to see how much is allocated to basic services such as fire, police, streets, parks and libraries before yielding to the all too common practice of using special levies for the popular programs while spending freely on items extraneous to the core mission of the city. VOTE NO.

State of Washington

Initiative Measure 985 proposes several measures designed to increase traffic flow such as use of HOV lanes in non rush hour times, synchronization of traffic lights and dedication of certain traffic related income to traffic flow purposes. There is just too much handcuffing detail in this measure. It is planning by initiative, which rarely works well. VOTE NO.

Initiative Measure 1000 is death with dignity or assisted suicide similar to the Oregon law. Today one can get hospice care, decline artificial means or heroic efforts to keep one alive, receive pain-killing drugs and refuse treatment. Adding suicide is too far down the slippery slope. VOTE NO.

Initiate Measure 1029 Certification of long-term care workers. Sounds good but raises serious concerns for family member care givers. The Legislature should work on this one. VOTE NO.

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Property Tax and Local Government Spending – Scandal?

Posted by Warren Peterson on October 8, 2008

If the current national financial debacle and the government’s role in causing it anger you, take a look at local government. The Washington Policy Center (see Blogroll on right side for a link to their web site) has just released a brief on property taxes and government spending that is a real eye opener. Take it with you to your local candidate and elected official forums. To read a pdf format of the brief, click on the blue words above.

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Rossi and the Judges

Posted by Warren Peterson on October 7, 2008

In the Vice Presidential debate, the candidates were asked if they could think of a single issue where they changed a long held view. Joe Biden answered that when he “went on the Judiciary Committee as a young lawyer, I was of the view and trained in the view that the only thing that mattered was whether or not a nominee appointed, suggested by the president had a judicial temperament, had not committed a crime of moral turpitude, and was – had been a good student.

And it didn’t take me long – it was hard to change, but it didn’t take me long to realize that the ideology of that judge makes a big difference.” – in other words, no conservatives on the bench.

The result of such thinking is now reflected in the Rossi-Gregoire contest. Two former judges, Faith Ireland and Robert Utter, are participating in a lawsuit claiming that Dino Rossi improperly solicited campaign contributions from the Building Industry Association of Washington prior to his announcing his candidacy for governor. That the suit is blatantly political is without question. There is no chance it will be resolved before November 4. Having two former judges out front on the issue gives legitimacy to the charges true or not. It serves the purpose of sowing doubt in the minds of the undecided just as the frivolous suit brought by the Democratic Party over Rossi’s use of GOP rather than Republican as his party identification.

The public saw through that one but may be swayed by the latest claim because two judges are involved. Ireland and Utter are both know as liberals but inserting themselves in a last minute “October surprise” accusation calls into question their impartiality as judges. Should the Bar Association review their past decisions to see if political bias rather than the law was the basis of their rulings? Being former judges should not bar them from speaking out on issues but it should give then pause before agreeing to participate in a patently political lawsuit.

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Subprime Article from the New York Times 9/30/1999

Posted by Warren Peterson on October 6, 2008

Read the New York Times article from September 30, 1999 to learn a little more about the start of the the subprime crisis.

Click on the blue New York Times

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Fight for Us Senator McCain, Fight for Us!

Posted by Warren Peterson on October 6, 2008

OK, the bailout bill has passed. Now it’s time to call out the culprits. Barack Obama, Nancy Pelosi, Harry Reid, Chris Dodd, Chuck Schumer, Barney Frank and a host of other Democrats lay the whole problem at the feet of the Republicans. They have no compunction about inserting politics into one of the most critical challenges in recent memory. Incredibly, Bill Clinton accepted a share of the blame for himself and the Democrats but he was in a definite minority within his party.

The job of pointing out the dirty fingers of Senator Dodd and his sweetheart mortgage from Countrywide, the chutzpah of Barney Frank claiming that Fannie Mae and Freddie Mac were sound and not in need of more oversight and Chuck Schumer’s loose lips that helped sink a California bank falls to the one person with the media exposure to do it – John McCain. It was commendable that McCain did not sink to the Pelosi level in the heat of negotiations on the bailout bill. For this Dodd, Schumer, Reid, Frank, Pelosi and other Democrats attacked him for returning to Washington to work on the bailout, doing his job as a Senator. Amazing. McCain owes these Congressional colleagues nothing. They have used every opportunity, especially during this crisis, to pump up the non-participant Obama and degrade the one who put the nation first, McCain.

Senator McCain said if he were elected president, he would point out every spending earmark and make the authors famous. Well the just passed bailout bill gives him his first golden opportunity. It is loaded with pork. Tax breaks for the rum industry, fishermen, people who bike to work, NASCAR and on and on; name names, Republican or Democrat, who used this crisis for political gain. Even if some of the earmarks were for “good” purposes, they should not have been in what was arguably the most significant piece of legislation in recent memory. Its passage should have been on the merits of the bill not bribes.

Senator McCain, in your nomination acceptance speech, you said “Stand up, stand up, stand up and fight.” Senator, you fought for us before, fight for us again and we’ll fight with you. Attack the Democrat hypocrisy. Don’t let the Democrats who were principals in causing the financial meltdown get away with the “Blame Bush” canard. Don’t let Obama disguise his leftist worldview with teleprompter feel good rhetoric. Straight talk to the people may not only win you the presidency but also save some House and Senate seats. Fight for us Senator, Fight for us.

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The Start of the Financial Crisis

Posted by Warren Peterson on October 2, 2008

When the final report on the root causes of our current financial crisis is written, poor journalism and resulting government policy may be found as the seed and soil of the problem. Steven Malanga, an editor for RealClearMarkets and a senior fellow at the conservative Manhattan Institute wrote an insightful article, “The Long Road to Slack Lending Standards”, that explains how we moved from time tested standards to a new and ultimately unstable lending model all in the name of social justice. There were many other players along the way; some acting with the best of intentions, some who took advantage of a new opportunity to make money, some in Congress that just didn’t understand finance and a few unethical crooks. But cancer starts with one bad cell and Steven Malanga has found it.

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