VINDICA

In the past few weeks, the two giant GSEs (Freddie Mac, Fannie Mae) have been nationalized. Of the five biggest Investment Banks in the US (Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers, Bear Stearns), three have ceased to exist. Congress has been stunned into inactivity as Harry Reid, the Senate Majority Leader admits the Congress has done nothing because nobody knows what to do. The "doing something" part is in the court of Fed Chairman Ben Bernanke and Treasury Secretary Hank Paulson. Hundreds of billions of dollars have been spent on bailouts, billions "injected" into the global financial system. Financial institutions have been nationalized. Insurance companies have been taken over. Now there is talk of a "permanent solution" to the credit problems through setting up of a Government Institution to act to buy up bad mortgages from financial institutions so that they can clean up their balance sheets and survive. It is expected th...

Obama called the McCain/Palin team's makeover as lipstick on a pig. McCain claims Obama called Palin a pig. McCain ad claims Obama supports sex education in kindergarten! When Obama questioned McCain campaign's honor because of such an obvious distortion of truth, McCain responds with indignation about his honor being questioned! It is silly season, and the Republicans are doing a great job of making this an election about pigs and pitbulls. It would seem preposterous that cynicism can win. However, Joe Klein of Time Magazine claims to have spent a whole career watching cynicism triumph over truth. So who is to say it wont succeed once more. It would be a sad day for America though.

John McCain introduced the undercooked and under investigated Sarah Palin. Since the surprise announcement, the press has uncovered surprises of their own. - Sarah is pro-life, and opposes abortion even in the case of rape and incest. - She supports teaching creationism in schools. - Her husband was a registered member of an Alaska Secessionist group as late as 2004. - Her 17 year old unwed daughter is pregnant - She thinks Iraq was is a holy war - She carried her 5th child to term even though he had downs syndrome It is scary to imagine a US President with such views. But wait! Reagan was pretty similar (evangelical, problem with kids, thought Israel was in the midst of a holy war), and he is now hailed as the great communicator! Maybe Sarah is the next great American President. God Help America.