CNN is reporting that President Obama will ask Congress “to tax the largest banks to ensure that U.S. taxpayers don’t lose a penny from the federal bailout of the financial, auto and insurance industries over the past year.” Seems a little bit like trying to put the genie back in the bottle. But I’d be the first to admit that I don’t understand finance. I’m one of those people who thinks that if you don’t have the money for something, you shouldn’t buy it. There are exceptions — mortgages, for example. But before a bank loans you money, they make sure you can pay it back. Well, that’s something banks used to do before they started giving million-dollar mortgages to people earning minimum wage, which was part of the reason that the economy collapsed. Then they took money from the government and refused to make loans, thereby freezing the financial system. A bit of an oversimplification, but like I said, I don’t know much about finance.
In other news…
What to say about the earthquake in Haiti? It’s horrible. The Mirror says that (warning: don’t click this link if you don’t want to see some pretty horrendous images) the quake killed 100,000 people in 60 seconds.
Rush Limbaugh, however, sees the Haiti earthquake as an opportunity to take shots at President Obama. On his radio show, Limbaugh said that the earthquake “will play right into Obama’s hands” and “they’ll use this to burnish their credibility with, shall we say, the Black community… both light-skinned and dark-skinned Black community…” The quote isn’t perfect because Limbaugh says “um” a lot, which is surprising because he’s supposed to be a professional broadcaster. Here’s the clip (via Shabooty.com, as heard on The Howard Stern Show):
Televangelist Pat Robertson called the Haiti earthquake “a blessing in disguise” and also something about the Haitian people and their “pact with the Devil” to get the French out of their country — “true story” he says. Here’s the short version (AP video):
A couple of quick things:
Art Rust Jr. died. He was 82. The New York Times called him a pioneer in sports talk radio. I used to listen to him on WABC radio when I was very young, too young to care about sports talk radio. But he was really good. Not many “ums”, unlike Rush Limbaugh.
And here’s a quick clip to hopefully take some away the image of Pat Robertson saying disgusting things — Jimmy Kimmel doing his show as Jay Leno. Good times, good times.