VBC Video
"Where Fillmore County News Comes First"
Online Edition
Friday, July 25th, 2014
Volume ∞ Issue ∞
 
<< | < | 75 | 76 | 77 | 78 | 79 | > | >>

What happened to the R word?


Fri, Feb 29th, 2008
Posted in Commentary

What happened to the R word? You know, that old fashioned word called Regulation. Government regulation to be specific. With the sub-prime mortgage crisis and it's shady lenders about to put us into a recession for the second time in 20 years, isn't it time we revisit the idea that government regulate lending institutions?

I realize it's fashionable to think that government is bad and anything private sector is good. Unfortunately the reality is that after we taxpayers take the hit on this round of malfeasance and larceny it might do us good to look at how we may avoid taking it in the shorts a third time.

A third time you say?

Yes, this "crisis" is the second "crisis" in lending. Remember the Savings and Loan Crisis of the 1980's and 90's? That little debacle was caused by the government deregulating the Savings and Loan industry and of course they immediately went out and lent far more money than was prudent, and to risky ventures in the real estate market.

According to L. William Seidman, former chairman of the FDIC, "The banking problems of the '80s and '90s came primarily, but not exclusively, from unsound real estate lending."

Now doesn't that sound familiar? The Savings and Loan crisis cost taxpayers 124.6 billion dollars in direct government payout sand led to the recession of 1990 - 1991.

It seems quite evident that the finance industry either is incompetent or so greedy that they are unable to use sound judgment. My guess is that they were betting on getting bailed out all along. The sub-prime mortgage industry certainly remembers the S&L crisis and the government bail out and how the managers and lenders walked away leaving the taxpayers to foot the bill.

We, of course, will pay for this one too.

Our current Administration and the Federal Reserve were warned many times that questionable lending practices could spiral the economy down the tubes. They did nothing.

Their solution? Let the economy slip into recession and then send us all a check that our grandchildren will have to pay for.

The irony here is that those of us who have made sound financial decisions will pay for those who haven't and those who made fortunes taking advantage of them. Remember that subprime lenders made $540 billion in mortgages in 2004 and peaked at $625 billion in 2006. Somebody went home with a bunch of cabbage!

As for me I'm a little tired of this old game.

Isn't .....
[Read the Rest]

The ugly stain of torture

Fri, Feb 29th, 2008
Posted in Commentary

Morris Davis, a bird colonel in the Air Force, and until October the chief prosecutor in Guantanamo Cuba, related the story of Tom Ahern in the New York Times ten days ago. According to Davis, Ahern was the Tehran station chief during the Iran hosta ..... 
[Read the Rest]

Is it time to change how we campaign for President?

Fri, Feb 22nd, 2008
Posted in Commentary

Eight months until November 4th! Can we bear it?

How many of us are honestly sick of political ads, phone calls, polls, attacks, claims, and sound bites?

Maybe it is time to consider putting some limits on how we campaign for preside ..... 
[Read the Rest]

Hey, just take a pill

Fri, Feb 15th, 2008
Posted in Commentary

Winter TV watching is a special health hazard- guaranteed to increase weight and decrease IQ in direct proportion.

Sandwiched between ads for extra cheese pizza and All-You-Can-Eat buffets are ads for cholesterol medications. Dr. Jarvik is ..... 
[Read the Rest]

How much change do we really want?

Fri, Feb 8th, 2008
Posted in Commentary

As the number of presidential hopefuls gets smaller an interesting field of candidate's remains. Each in their own way represents a certain segment of the electorate. Left in the race is a person of African-American heritage, a woman, a Mormon, an e ..... 
[Read the Rest]

Nobody was listening anyway

Fri, Feb 1st, 2008
Posted in Commentary

Last Monday night my wife was baby sitting so I was able to watch the "State of the Union" speech in its entirety. There was no one home to hear some of my language.

Most of these speeches are used to lay out bold and broad policy objectives ..... 
[Read the Rest]

What I did at Camp

Fri, Jan 25th, 2008
Posted in Commentary

Camp is for kids, right? Well, I left my three kids with dad and set out for St. Paul for a weekend of intense "camp," without the traditional canoeing, mosquito-friendly tent, and fireside songs. I was a little nervous about what to expect, but I c ..... 
[Read the Rest]

It's all about the Benjamins

Mon, Jan 21st, 2008
Posted in Commentary

With a possible economic recession in our near future some in government think that a tax cut is the way to prevent this from happening. This theory is if we pay less in taxes we will have more money to spend and thus boost the economy.

I g ..... 
[Read the Rest]

Second hand smoke

Mon, Jan 21st, 2008
Posted in Commentary

The reported health risks of second hand smoke are likened to the Great Plagues of Europe. If it were true, Baby Boomers would not be a threat to Medicare and Social Security. They would not have been large enough to mount campaigns for women's righ ..... 
[Read the Rest]
<< | < | 75 | 76 | 77 | 78 | 79 | > | >>