Americans Have Social Obligations - All Americans

Today's writings connect to nothing directly in the headlines except maybe the fact that our government and business infrastructure is faltering and each of us must take some responsibility for ourselves and our actions. Although there are subtle nuances to the sub-prime mortgage crisis, there certainly were people who took advantage of the 110% mortgages thinking they were getting "free money". Or those who let themselves believe they could own a $250,000 house, with nothing down, on a $40,000 income. Logic, unfortunately, was suspended in many of those cases. While I admit these borrowers should have known that it was all too good to be true, the lenders share the blame by pushing people to borrow more than they could ever afford, even if the housing market hadn't tanked.

But it seems it is getting a little too easy for some to blame the government for all their ills; in fact, not just blame the government but expect the government to save them, bail them out, protect them from themselves.

Welfare used to be like that. Just have a kid or two and you got "free money". Oh to be sure, you'd never get rich in the pittance of that monthly check, but you didn't have to work for it. That, for the most part, has been taken care of and the country, it turns out, is better for it. As are those who would have kept drawing on the dole to live if it hadn't ended.

I found an old quote that summarizes some of this well from Isabel V. Sawhill, who was then a senior fellow at the Urban Institute in Washington, D.C. She maintained that there are certain social obligations that many in the underclass have not fulfilled. Here is what she said:

They have not studied hard, completed high school, delayed childbirth until after school, married, or held a steady job, refrained from drug or alcohol abuse.

Those who fulfill these social obligations of American life are unlikely to be be chronically poor. If they are poor despite having abided by the rules, society is much more likely to come to their rescue. The problem is too many people who are not fulfilling their end of the bargain; these people constitute the underclass.

Interesting points.

Breaking the Bond, James Bond

Today I read that the director of the new James Bond film, Quantum of Solace, will not use the iconic phrase, "My name is Bond....James Bond" in this movie. What a travesty this is for Bond fans. What arrogance this director, Mark Forster, has for the Bond franchise.

I am a middling Bond fan at best, but I try to see each film knowing that I can count on some continuity in the story line. Bond is Bond and we know that he takes his Martinis "shaken, not stirred". Unless Forster plans to conveniently leave that tidbit of Bond lore to die on the vine as well.

It is bad enough that Sean Connery got too old to cavort around in his Astin-Martin, too old to leap from building to building, and probably too old for the "delicate" sensual scenes (I hate to give in on this one, but Connery, gentleman that he is, will just have to be a retired agent).

Forster says he "just couldn't find a place for it", the "it" being the trademark line. Now come on, how hard is it to have Daniel Craig introduce himself to someone somewhere in the film. Maybe even to "M" in a senior moment. Sort of like a Denny Crane does to everyone in Boston Legal. "Denny Crane," he spouts, even to his son.

So what is next? Will Porky Pig drop his "th-th'that's all folks"? That would be heresy, or even looney tunes. Will Bart Simpson give up his "I didn't do it" for expediency? I don't think so and I don't think it would have taken much to slip in the "Bond, James Bond" line. Pure laziness, I say, pure laziness. I want to be an Oscar Mayer wiener.

Architect of the Bailout - Henry Paulson

I sometimes still think that cabinet secretary appointments are pure political patronage. The same with ambassadorships, I might add. However, watching Treasury Secretary Paulson this week made me think that at least he is willing to step up and do the job he is paid for. Who knows whether this incredible, monstrous, and unfathomable bailout will work? But I sure think something had to be done, and despite my previous post, will support what these experts propose.

Don't get me wrong, I am still considerably rankled by the thought that the problem that necessitated this bailout, which could cost every man, woman, and child in the U.S. about $2000 each, is not the fault of 99.9999% of every man, woman, and child in the U.S.

Secretary Paulson has been working hard, with all his advisors, to come up with the "last, best hope" for our economy to survive nearly sure devastation. He seems to be earning his dough and is clearly more than a figurehead patron. I agree with Thomas Friedman's column that notes if Senator Obama becomes President, he should consider keeping Paulson on as the financial captain at least until the storm subsides.

Gekko Was Wrong: Apparently Greed is NOT Good

It seems so long ago that Michael Douglas uttered the line in the 1987 movie Wall Street that "Greed is good". Maybe it had been in the past but it sure has come home to roost now. Playing fast and loose with the regulations and with other people's money became the norm since before Enron. I guess we learned nothing from Enron which now pales in comparison to the failed Lehman Brothers free fall.

What irks me most is that I believed in the free market, giving responsible investors their head to make the best deals and thus make those invested in the market a little more comfortable. But now it seems that we cannot allow these greedy b**tards free rein or they will lie, cheat, and steal to line their own pockets. How many CEOs are going to still get their multi-million dollar bonuses?

The government can share some of the blame as well for not monitoring all of this activity particularly in light of the Enron scandal or for sure the Bear Stearns bailout. Did this really have to become such a crisis where financial wizards (I pray) have to hunker down all weekend to get emergency legislation passed to avoid something even worse?

And finally, I have to ask - What did I do wrong to deserve to have to share the terrible tax burden all Americans will have to bear? I invested wisely, took mortgages that I could easily afford, and paid my bills on time to avoid outrageous interest. Why do I (and you and you and you) have to mop us this mess with our own money? In fact, I now have less money to help pay this $1 trillion dollar bailout for the same reason that it regretfully has to happen. My own IRAs have lost 15-20% in value lately leaving me with far less than I planned in retirement. So I guess it's a double whammy. I will have to pay more in taxes with less money on hand. Wot a country.

Is It Trouble for Palin, or a Blessed Event?

Pregnancy happens. That is the natural part of life. Of course, in our society and many others it is good to be married before the little ones are conceived. But pregnancy happens and despite some best efforts to avoid an unwanted pregnancy, nature has its way to increase the population.

Governor Palin's daughter, 17 year old Bristol (named after the NASCAR track?), has been said to have the misfortune of expecting a baby with her fiance. They say they plan to marry and raise this child as anyone would. I only hope that their plan was to marry before the indicator turned blue, and not just to legitimize the birth.

But, you know what? Is this really our business; this intimate detail of the daughter of a VP candidate? Generally, it should be business of the family and no one else. Except....

Governor Palin is a staunch pro-life advocate and the recent revelation that her last son Trig, a Down Syndrome child, was not to be aborted despite knowing the outcome far in advance comports with that belief. Now it appears that she (and her daughter) pass the consistency test as well. Bristol could have aborted long ago, but it is enough to say she didn't. Now, as Senator Obama says, this business is off-limits in his campaign. We can't attack Palin's consistent views (the one area open to discussion) so they should all be left alone to prepare for the Blessed Event.

The media likes to call it "trouble for the McCain campaign" or "a dirty little secret of Governor Palin's life", but once the dust has settled and the decisions made, it is and should be just what it is - a Blessed Event, where two loving parents bring a child into the world with the full support of its grandparents. Many other children are not lucky enough to start out that way.

Finally, to be fair, those on the right who are accepting of this situation must also look inside themselves to see if they would have the same reaction if Joe Biden's daughter got pregnant before marriage.

Now with this story, and the alleged trooper firing influence, I don't know if Sarah will be able to survive the rigors of this nasty campaign. If her kids get any more flak, she may find this to be a good excuse to bow out.