Thursday, April 29, 2010

Bank On It!

I have a question.
If banks make money by loaning money why wouldn't they do so?

Doesn't it seem counter-intuitive that this group of 'smarter than the average bear' (or bull if you like) CEOs and their board members are afraid to turn on that engine of growth?

But the fact that they are not lending to small businesses should send a signal that our basic concept of how banks work in a post recession economy is all wrong.

When the economy visited the abyss a year and a half ago most of us were hurt.  We were hurt in the pocket and the future pocket known as our retirement funds. Many looked into the vault for their 'Roth' and instead found a moth.

Even the millionaires and billionaires were hurt although once you have more money than the proverbial Gods the hurt you feel is more like a paper cut.

But no matter where your financial starting point when the slide started you slipped along with everyone else.

In order to get back the money the banks or more importantly the bankers lost they could have loaned out more cash. They would then reap the benefit of the 'vig' or difference between what they hand out in interest to depositors and receive in payment from outstanding loans. Interest rates these days are noted in tenths while loans are still in the 3% to 5% neighborhood.

Bank charges for delinquencies and various credit card fees are still in the usury area.  In fact some of those rates are so high you feel you should get dinner and a movie beforehand.

So why are the big wheels not turning?

Why do the banks refuse to give out so they may pull in?

It could be they wish to have their spreadsheets look stronger.  A strong spreadsheet makes the bank look great.  Investors like strong companies.  Bank stocks were quite depressed, in fact Shitty, I'm sorry, Citibank was actually under $1 per share for a day or so.
So who cares if the stock prices go up?
The heads of the five families, that's who! (Don Bank of America - Don JP Morgan - Don 'Walk-over-you' - Don Wells Fargo - Don CITIBANK.  And we must throw in the Godfather himself - Don Goldman Sucks!)

The CEOs and board members of banks are always the largest shareholders.  When the stock price doubles or triples or more, as in the case of Citi they stand to make back all if not more than they lost in the first place!  And the fact that they are using tax payer bailout money to do so, for lack of a better term, SUCKS.

But the best part is after cleaning up the spreadsheets and keeping all the money we gave them, the banks not only didn't not loan anything out but took the line's share as bonuses for a job well done!

Our nation relies on the banking system to keep the economy going so we cannot just throw these hypocritical thieves into jail. But we cannot allow them to continue the practices that caused the meltdown in the first place.  At least not without imparting upon them the fear of personal loss.

The 'heads they win - Tails we lose' scenario must end.

Congress must close the door to the banking industry lobbyists and do the right thing - NOW!
If we cannot even learn from nearby history then we are surely doomed to repeat it forever.

Bank on it!

Wednesday, April 28, 2010

Colors for Tea Partiers

Kidnappers are known to use newspaper cutouts to populate their ransom notes.  They do this so that the recipient cannot find them by using handwriting analyses or some other technical forensic method.

Other criminals use sophisticated routing systems when making phone calls so that they appear to emanate from far off lands even though they may be next door.

Bank robbers don all manner of disguises when entering a security camera laden facility.
All of the above procedures are followed for one simple reason; the perpetrator wishes to hide his or her identity.

But in America these days there is a group of people who are not only proud to be seen doing and saying inane things they relish every opportunity to do so!

Showing their lack of knowledge they are in fact proud that they have no clue about what's going on.

Generally older than their IQs these misguided misfits manage to maintain an air of abject stupidity while proclaiming their ideology on colorful and offensive placards of their own making which they display at any rally they can find.

These men and women think they are doing good.  (Perhaps think is too strong a word.)

Well finally there is one company who agrees with their right to use the First Amendment.  In fact they want them to keep doing it, over and over and over...
Crayola wishes them god-speed.

The tin foil industry is hoping to get the same people upset about aliens.

Monday, April 26, 2010

It's Carole Kings Fault!

As Shakespeare once wrote, "The fault, dear Brutus, is not in our stars, But in ourselves..." (Cassius to Brutus - Julius Caesar I ii 140-141)
But can or should we blame ourselves for everything that happens to us?
Surely some things must be blamed on happenstance, what some people call fate.  Still others consider anything out of our control to be God's will.  (Apologies to my fellow agnostics out there.)
However the bottom line is we as human beings must find someone or something to blame stuff on!  Clearly the Bossa Nova and Canada have been blamed enough.
And so we have reached a new plateau in our search for the absurd.
A new high of low.
The piéce de résistance of pure ridiculous stupidity.
From that wonderful country that brought you the Ayatollahs comes definitive word on the cause of Earthquakes.
Cleric Hojatoleslam Kazem Sedighi, whose name itself could produce tremors in your brain, claims that scantily clad women lead the good men of Iran and elsewhere astray.  And I guess this would be the cause of a "Sodom and Gomorrah' like devastation; a retribution in the form of an Earthquake of Biblical proportions.
The leadership of Iran has even taken to drawing up plans for evacuating the entire city and saving as many historical artifacts as possible.
Hey, you never know - Shiite happens!
On the brighter side of their predictions of disaster is the belief that an earthquake would protect them from an attack by the United States.  After all, says an e-mail making the rounds in the country, "Who would want to attack a country hit by a natural disaster?"
Women are a natural disaster???
I wonder if the clerics were slightly misguided in their feelings about women.
Perhaps when the good religious men of Iran think of women in modern Western dress, 'they feel the earth move under their feet; they feel the sky tumbling down; they feel their heart start to trembling, whenever they're around...'
Et Tu Ms. King?

Sunday, April 25, 2010

245 and Counting

When I went to sleep last night, or rather early this morning it was April 25th but somehow I emulated Mr. R Van Winkle because I awoke 8 months later!  At least that's what the newspaper told me.

You see as I neatly opened the plastic bag that kept my delivered N Y Times from succumbing to the moisture on my rain-soaked driveway an advertisement slipped out.  The brightly colored ad sported a kick-line comprised of the famous bevy of beauties known as the Radio City Music Hall Rockettes.™ 

Naturally I looked the page over and after lowering my gaze from the ten smiling young ladies realized it was announcing that tickets were now on sale for the "Christmas Spectacular."


That's right boys and girls; you only have 245 days left to get ready for Santa!  (For those of us who celebrate the visit of Hannukah Harry we have even less time to plan as that number is a mere 221! - Yup, the holiday is early again this year.)

So what's the big deal?

I realize businesses have been hurt by the economic downturn and they must try to drum up sales somehow.  But I also know and feel the stress it caused on Main Street.  So do we really need to add to that stress by starting the Winter Holiday countdown in APRIL???

I have nothing against the Rockettes ('break a leg' ladies) but would anyone mind if I tried to enjoy the summer before thinking about buying a new snow shovel?

Saturday, April 24, 2010

A Chicken a Day?

Move over 'MSRP.'  We are about to have a new edition addition to that time honored standard price listing.
The best selling author of this soon to be released publication will not be of the caliber of Grisham or Clancy but more in the vein of Stephen King.
I am speaking of a new standard substitute pricing bible for the health care industry.
No longer will you have to bring your insurance card or your wallet for that matter to the doctor's office.  No need to spend hours filling out forms before even being allowed to state the reason for your visit.  Simply drop off the edible legal tender in the newly revised medical refrigeration area and have a seat in the waiting room.  The doctor will be with you shortly.
Some consider this move a gamble so it is fitting that it was originally suggested by Senate hopeful Sue Lowden of Nevada.  When asked if she was serious Ms. Lowden not only repeated her stance but 'doubled down,' doing it with a poker face worthy of her Texas Hold 'em friend, the secessionist Rick Perry.
The soon to be standard for doctor visits will likely include easy to understand formulas such as:
Doctor Visit = One 3 lb. bag of apples (Quite appropriate.)

A southern edition may a substitute a pecan pie but it must be fresh and feed at least 4 grown individuals.
Certain medical specialties are wrestling with possible conflicts of interest when it comes to reimbursement by methods other than the traditional cash or check.  Among these are proctology, where some have suggested a stuffed turkey as apropos compensation and of course gynecology. (This one kind of gives tipping a new and interesting function.)
Group compensation may be tailored to fit the needs of both provider and patient.  For example a doctor for a sports team may be afforded a sky box at the stadium.  Naturally teams that do not fare as well on the field may have to sweeten the pot with complimentary meals and beverages.  Last place teams may wish to revert to cash.
As an added benefit to the new practice Americans may save on energy costs as they will now be able to go directly from their grocer to the doctor.  Naturally they will have to bring a bit more food in case there are complications but need not worry about leftovers as all doctors will provide complimentary doggie bags.
Doctors will start making things easier for their current and potential patients by registering with local merchants.  You the customer will then be able to search the web for the doctor whose interests most match your own thus making small talk during visits more relevant.
But while the health care industry is becoming far more expensive these days and therefore in focus I don't think we should stop there.
Cash is overrated; credit card companies concur.  And since we only use cash to purchase goods and services later anyway why not cut out the middle man completely?
Let's start paying our politicians with goods and services now.  Luckily we won't have to change things all that much since many of them are already being serviced as we speak.
And once we figure out all the possible substitute payment plans we can finally get rid of another huge problem in this country, banks that are too big to fail!
I guess when you take this idea to its logical conclusion it is sublime and subtly simplistic.  It is genius.
Author - Author!
Forget the Senate - 
Sue Lowden for President!

Thursday, April 22, 2010


What's the difference between Tea and Tee?

Well aside from the obvious replacement of the letter 'a' by the 'e' and the fact that they would each cost $250 from Vanna White there are many differences.

For example you might sit down and relax and do nothing when you have tea.  Or you may have a friend over and discuss the neighbors or talk about the latest fashions while comfortably sitting in the parlor.
But you generally think of exercise when you're using a tee.
Using a TEE you are holding a golf club or playing 'tee-ball.'
Using TEA you hold a cup with your pinky out.
All golfers know they have a better chance of  making a good shot if they tee up the ball.
Every hole they play starts by placing a ball on the tee; taking a whack at it and hoping for the best.
Outside of golf the verb combo "Tee Up" means to organize or plan an event and carry it out.

So tee up is a good thing.
'Tee up' gets things done.
And after you have finished using the tee for the day you might settle down for a spot of tea or as they do in England 'high tea.' I prefer cream tea but that's just me.

However despite the silly differences mentioned above there is a very real one and it stems from the use of one of the words to denote a political movement, namely the TEA Party.

In that reference it stands for 'Taxed Enough Already' and is on the face of it both clever and appealing.
I mean who doesn't wish to pay less taxes?  Perhaps I should say pay less taxes while making more money thus keeping more money.  It also brings to mind the famous historical Boston Tea Party although under simple examination the similarities subsequently fall apart.

But the problem with a simple idea such as paying less tax is the unintentional consequences.  When faced with the reality that their movement could cause the lose of their Medicare benefits or damage their Social Security payments many 'tea party' followers suddenly channeled "Emily Litella." (Sound on please.)

As anyone who knows me will attest it has long been my fantasy of mine to owe one million dollars in Federal Income Tax.  Many current millionaires out there are probably laughing at me and calling me an idiot as they most likely pay next to nothing but I can live with that.

What I can not live with is the fact that those same people who laugh at me are manipulating the vulnerable masses who don't know which way to turn for help.  They are being fed a pack of lies and told that the government is after them!  If they don't do something quickly they will lose everything.

But who will actually gain if the Tea Party movement succeeds?  Not the individuals with the silly hats or dumb and offensive signs parading on publicly funded land or in front of the White House.  The winners will be the corporations and big banks who are paying their lobbyists to arrange and coordinate the rallies.

It has long been said that a little knowledge is a dangerous thing.  Judging by the interviews of many of those in the Tea Party movement I would say it is incredibly dangerous.

I propose we change the "A" to an "E" and 're-acronym' the movement as "Tax Everyone Equally."  It may take a little time and an honest effort (HONEST EFFORT!) but loopholes and iniquities in our tax code must be weeded out.

We Americans have been able to lead the World in innovation for our entire history.  I refuse to believe that despite the pandering partisan partitions in DC we cannot come up with a way to dig ourselves out of the fox hole we're in and come up with a fair and balanced way to tax everyone equally!


Wednesday, April 21, 2010

Your Future has Derived

Job Opportunity

Title:                 Financial Genius
Experience:    Not much
Desire:             To make obscene amounts of money
Where:             Your home office or our place
Duties:             Invent next Wall St. gobbledygook derivative
When:             The sooner the better
Ethics:             Seriously?

If you have a great idea on how to transfer massive amounts of money from poor (at least they soon will be) individual investors into an account of your choosing and need a firm to cover your actions please contact us at…

The above memo did not actually go out, yet.  But that's only because the current financial environment for fraud is sadly toxic and under review.  However' current' has a way of becoming 'quaint' when seen from the future and in our 24 hour news cycle the future could be as soon as next week.

The memo is reminiscent of bumper sticker on the backs of some trucks on the road today.  The drivers who appear not to care about other vehicles on the highway display the following message with pride - “If you don’t like the way I drive please call 1-800-EAT SHIT.”

The wonderful people in the banking and investment industry seem to be licking their wounds but are actually raking in the profits.  And just like the boys from Enron who were nicknamed, "the smartest guys in the room" these bankers are incredibly shrewd.  Goldman Sachs is under investigation for, uh for, um, well we have no idea exactly what they were doing except we believe it was a fraud of some kind.  We’ll get back to you on that.

The alleged fraud (I use that term thanks to years of watching, ‘Law and Order’) centers around the practice of trading in ‘derivatives’ in order to basically gamble with other people’s money while not risking a penny of your own.

So just what is a derivative?
It shouldn’t be that hard to figure out, right?
The word has only ten letters and is derived (sorry about that) from the word derive so I deduce I could arrive at an easy to understand definition.
I deduce wrongly!

According to Webster’s a derivative is something that is derived from something else.  Don’t you just love dictionaries?  Aside from having to know how to spell something before you can look it up to see how to spell it many of the definitions therein derive their explanations from a different form of the original word in question!

But I digress.

In fact I remember something I learned last century in high school math that may make it easier to figure out derivatives.
One of the subjects I enjoyed in a nerd sort of way back then was trigonometry.  During that class I learned about sine and cosine and tangents.  These were the so called Trig derivatives and although they were not the simplest of ratios to understand a small amount of studying made their meanings clear.

In all fairness and to the best of my knowledge I have never used trig derivatives in my life since getting out of that class but there is still time, I hope.

And as amusing as it may be to realize that trigonometry is a study of the use of angles big financial gurus did not use it to game the system and scam billions of our dollars so we must keep looking.

Investing 101 tells us that the easiest derivative to understand is also one of the oldest on the books, options trading.  Simply put buying an option on a stock gives you the right to either buy or sell that stock at a set price some time in the future.  The value of the option is derived from the difference between that future price, known as the strike price and the current price of the stock.

For example, suppose the price of Company “A” is $100 per share and you feel the price is going to go up.  Now suppose you don’t wish to spend $100 to buy shares of “A.”  You could instead buy a ‘call’ option for as little as $1.  The price of the ‘call’ is derived from the price of the stock but is obviously much less costly.

If the stock goes from $100 to $110 within a month you would make far more money, percentage-wise than if you had bought the stock itself.  The downside is the stock does not go up and you lose your entire investment.  Then all you have is a capital loss and a tax 'write-off' to show for your efforts.
(As always past performance is not an indicator of future value and you should consult your broker or financial advisor professional for more details. Invest with your head, not over it.)

But just about everyone who invests in or follows Wall St. knows about the options market.  This means the riff-raff gets to play in the game with the big boys.  The big boys don’t like that so they created a derivative on the derivative.  And as soon as the public figured that one out the biggies went one step further.

And they kept going until they were so far off base they had no way of getting home.  Even some of these geniuses don't understand what the hell they are doing anymore and forget to cover their tracks.  And that's when they get in trouble.

If you think something is going to happen but you're not sure what then you hedge your bet.  On Wall St. ‘Hedge Funds’ are derived from that uncertainty.  Managers of those derivatives constantly move money around to build a fortune for themselves and their investors based solely on smoke and mirrors and the fears of the little guy.

Our desire to get ahead without actually earning it or producing a value to society is rampant in America and it has been fueled by the success of the nouveau riche billionaires on Wall Street.  Mention the term ‘Hedge Fund’ to most Americans and you may have to duck and cover.

A hedge fund can earn billions betting that you and your neighbors will lose your homes because you cannot cover your mortgages.  Sadly in some perverse way the manager may have caused the environment that created the downturn in the economy that made the bank call in your loan but hey, all’s fair in love, war and finance.

The fact is big time investors derive pleasure and fortune gambling in the public sector while keeping their machinations private.  And unless and until our Politicians stop protecting them and bailing them out and start regulating the industry this practice will flourish.

But until then:

Opportunity is knocking!
Will you be the one to answer the call? 
Do you have what it takes to make someone else’s dream yours? 
Do you think hedges have nothing to do with bushes but can still deliver the green; 
Can you dazzle with your footwork
AND Baffle with your bullshit
WITHOUT Batting an eyelash
OR Breaking a sweat?

Then you too can be a billionaire before breakfast. 
Just come up with the next legal-like scam. 
Learn the latest loophole. 
Let us show you how to fly under the radar in your underwear and you’ll never get caught with your pants down again.
(Not a member of FDIC or SIPC)

Sunday, April 18, 2010

Lost but Found?

A well done project that makes you think is worth repeating and forwarding. 

An AARP sponsored contest entitled, "U @ 50" produced many entries.  The following video took second place which begs the question, what the hell could have beaten it? 

Entered by a twenty year old this 'palindrome' video is by definition the same forwards and backwards and it is brilliant. 

It will only take 1 minute and 44 seconds out of your life to change it. 

So watch and read along and enjoy, "The Lost Generation."

Friday, April 16, 2010

No Brainer?

Suppose the worst happened to you and you had to be hospitalized.  

Perhaps you have a terrible illness that requires an extended stay or even worse. 

Now feel your anxiety at the prospect of never again seeing your friends or family.  Feel the fear and isolation; the absolute despair at ending your life on Earth alone. 

That is what may face our Gay and Lesbian brothers and sisters in America in this, the 21st century. 

Naturally your parents or children could visit you but in many cases Gay men and women found themselves estranged from their families as a result of arcane societal taboos. 

Unless you happened to be married and your spouse was of the opposite sex you could not count on having your life partner visit. 

This is changing as President Obama has mandated hospital visitation rights to same sex partners. 

The implementation of this compassionate 'no-brainer' will naturally face tremendous opposition from unfeeling radical groups who do not like anyone other than themselves to be treated as human beings.  The sad part is that many in the opposition's camp are probably gay themselves as has been shown time and again by the so-called religious right and a few homophobic Congressmen. 

In a nation born on the notion 'live and let live' too many feel it's 'let me live and you die' and if gay, die alone.  (WWJD?)

Thursday, April 15, 2010

Quick Quiz

Okay boys and girls we are having a snap quiz.

Q - When is a law not a law?
A - When it is passed by the Democrats.

Q - When should you question the credentials of your President?
A - When he is a Democrat.

Q - When should the wealthiest people in America get a tax break?
A - If you are a Republican, all the time!

Are you sensing a theme here?

Like it or not the law of the land on abortion was decided many years ago by the famous Roe Vs. Wade decision.  But the losing side in this case figures that if they ignore the decision, much like a child placing his hands over his ears while making childish sounds he doesn't have to follow the law.

Such is the case in many states where a rogue bunch of Governors and Senators feel they are above the law.

When there is something we do not like in this country we are supposed to work within the system to get it changed.  That is what freedom and Democracy is all about.  But some Mavericks feel that the system doesn't work fast enough for their liking.  So if a law is passed that they don't like just ignore it and maybe it will go away.

In Arizona the law of the land is not only being ignored women who choose to follow the law can be thrown in jail!  Whether or not you agree with the Roe V Wade decision you must agree with the U S Constitution.  Of course many people do not agree with our Constitution and they are called terrorists!

Without laws we cannot be a civilized society and without lawmakers who follow the law we are in serious trouble.

Hasn't this farce gone on long enough?  Why does the fact that President Obama was born within the 50 states of this country not just become a known fact?  When will the utterly ignorant among us stop being listened to?

Nobody ever questioned President Bush's credentials even though he was so stupid he probably couldn't have placed third in that "smarter than a fifth grader" TV show.  And of course he was not even elected but rather chosen by the hand picked Supreme Court morons and the stupid, ugly, evil bitch who happened to be brother Jeb's attorney general in Florida.

We barely suffered through his 'nuke-you-lar' presidency that turned a record surplus into a record economic deficit.  The world viewed this a-hole and his evil Vice President as the worst duo ever to lead this country and yet we are still standing.

Why is that?

Because of our system of laws and the simple fact that a Democrat was elected in 2008!  And OMG the guy is a "N Word!"  Holy Shit!  How can we do that?

Wake up America!  Stop listening to hate TV.  Turn Fox off!  These morons are dangerous!  Do not allow them to control the message!

Will we ever get this country back to it's once greatly admired status on the world stage?  It is doubtful unless the men and women of Congress can stop taking the bribes they have come to love from the lobbies that are trying to take control of the country and start to govern once again..

Special interest groups have not only become too powerful they have taken the reins of America away from our elected officials.  And they have done it with a simple formula; a payola like scheme that only allows their message to be repeated and repeated and repeated over and over and over again on all the Conservative outlets such as Faux News!

That's the end of the quiz.  How did you do?  The answer depends upon your ideology.  If you are human you will pass.  If not you will sadly follow the likes of Boner and Bachmann and Palin and Beck and on and on and on...  And may your God have mercy and pity on your souls.

Public Service Alert

I just received an e-mail offering to give a job. 
All I need do is set up a bank account into which I will be paid.  I will even get on the job training and be paid for my time.

Alas like a free lunch if it seems to good to be true... 

The company is "Quality Graphic Installs, Inc." and lo and behold the whole job thing is a scam.  You may not lose money but you will become part of an illegal money laundering scheme. 

I assume none of you wish to break the law, unless you are of course already in Congress or own a big business so you should be wary of this sort of thing.

We Need Political Reform

While most of us are merely trying to survive this roller coaster ride that is the US economy big business is moving right along.  The individual is becoming less important and in many cases seen as a liability to the master plan. 

An important ruling handed down by the highest court of the land, the Supreme Court of the United States clearly contended that corporations are people too and as such must be afforded many of the rights heretofore associated solely with the individual.  But the ruling went further to point out that they are not just people but better than people since they have more money. 

And that is what it all boils down to in America, money.  If you have it you are allowed to make more of it and keep more of it but if you do not then you are vilified as a useless recipient of public funds and a drag on society.  Your entitlements must be stopped and the savings incurred be given back to the corporation. 

The ‘Catch 22’ in this scenario is that we as voters have a chance to fight this trend but alas that fight will take money. 

There is a tremendous gap between the salaries of the workers and the pay the top management takes from just about every company.  And if a worker points this out he may soon be joining the 9.7% of his fellow Americans on the unemployment line. 

And that is another problem.  Congress, mainly the Republicans see these non-workers as an annoyance, a distraction.  Glenn Beck, a particularly moronic individual who appears to be a prominent spokesman for the Republican Party even suggested that these non tax paying slobs should pay the country back for their good fortune by enlisting in the armed forces and serving overseas to protect America. (I chose not to place a link to any of this person's lies because there are so many I would not know where to begin. Google his name and choose your own lie to read about.) 

Of course the reason these people pay little or no income tax is because they have no income!  But it is very hard to see the ants crawling on the street when you sit in a penthouse sipping margheritas all day. 

The hate being spewed by the likes of Beck and most of the Republican Party these days tends to incite the weak-minded of America into blaming an imaginary villain.  Many otherwise compassionate people prefer to point their fingers at the victims as causing our woes. 

I have a friend who still believes he should not have to pay taxes so that someone who is out of work can get healthcare.  Of course he forgets the word represented by the first initial in USA.  And let us never forget that most of the unemployed worked for many years paying far more in taxes than the millionaires who hide their income in offshore locations.  Check out how much was added into the IRS’ coffers by Exxon.  Here’s a hint; NOTHING, they pay no income tax to the United States! 

President Obama suggested a graduated tax rate for those people fortunate enough to be making make more than one quarter of a million dollars per year.  Shockingly the entire Republican Party nearly had a mass coronary over this suggestion.  Using far more money than they would be paying in taxes the wealthy have launched a campaign against the plan.  In fact the plan from the ‘right’ side of the aisle of Congress is to lower taxes! 

Well let’s put all the items together and see what we have.  The poor and former middle class who are about to join their ranks do not pay much in income taxes since they do not earn any money these days.  The wealthy want tax breaks so they can possibly think about maybe hiring some of the cheap labor off the unemployment lines some time in the future.  And the Republican Party which merely wants to get back in power is complaining that the Democrats have not lowered the deficit (that was brought to record levels by the Republicans in the first place.)

So the Republicans are saying that the deficit will be lowered if we give the only people in the country who are making money tax breaks! 

I would laugh hysterically at this and call it fuzzy math if it wasn’t just plain downright bullshit!  In fact it is such a load of crap that it gives bullshit a bad name. 

In keeping with their oh-so deserved honorary title of the 'Party of No' it is this type of No-Brainer' idiocy that spews forth from their leadership. 

The “Party of No” has just plain become the party of lies!  Look into the complaints by the likes of Senator Mitch McConnell about pending financial reform.  He is totally against the bill written by Democrats to stop any future public bailouts of failed banking institutions. 

The bill states that big banks must pay into an insurance fund and those funds will be used if the bank fails, not public funds!  He is too smart not to know this!  Clearly he just wants no infringement or impediment or regulations or oversight on big banks.  I wonder who paid him to say this!!! Joe Wilson once yelled, "You Lie" while the President was speaking. 

I believe it is now obvious that he was directing his brain fart toward his own party. 

The vicious cycle of beating down the middle class so that they become poor and then using the poor as cheap labor in order to make more money for the top corporations continues unabated.
But Congress is working on a fix, wink wink.
They should have it ready for debate in a decade or two.