The Troubled Asset Relief Program (TARP) has only increased our financial peril, according to the Inspector General’s recently-released report. The final sentence in the executive summary says it all:

Stated another way, even if TARP saved our financial system from driving off a cliff back in 2008, absent meaningful reform, we are still driving on the same winding mountain road, but this time in a faster car.

And the principal reason for our widening peril is the moral hazard in the government bailout: if there are no consequences to bad behavior then we’ll get more bad behavior. In fact, TARP has positively incentivized bad behavior. The following is an extended quotation worth reading in its entirety because we’re all in deep trouble. [click to continue…]

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Breitbart: “These Decadent Bastards Are Going Down”

by Crocker on February 1, 2010, 9:59 pm

in Media, News, Politics

From Now Hampshire and Instapundit, Andrew Breitbart’s comments in New Hampshire on the – er – decline of the mainstream media.

Breitbart is never one to shy away from a fight. And that’s just one reason why I like him.

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Here’s another Mensa candidate. From The Hill:

The U.S. government must spend its way out of the recession, the Democrats’ third-ranking House leader stressed Monday.

Rep. James Clyburn (D-S.C.), the House majority whip, said that trying to find greater savings in the budget, which was released by President Barack Obama this morning, wouldn’t help alleviate the recession.

“We’ve got to make some decisions here as to what’s in the best interests of our country going forward,” Clyburn said during an appearance on Fox News. “And I think the best interest is to invest in education, control these deficits, while at the same time trying to get people back to work.”

“We’re not going to save our way out of this recession,” the majority whip added. “We’ve got to spend our way out of this recession, and I think most economists know that.”

Most economists?

More from Fox News and Gateway Pundit.

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Fly Government Air and Avoid the Rabble

by Crocker on February 1, 2010, 8:58 pm

in Media, Politics

As Instapundit observes, if this thing pans out, there may be a scandal brewing. Apparently, Nancy Pelosi (aka Marie Antoinette) likes to send her kids and grandkids cross country on the same military transport she uses. For more, jump to Doug Ross.

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Never Believe Your Own Press

by Crocker on February 1, 2010, 8:29 pm

in History, Politics

Or, in Hope ‘n Change’s case, never believe your own crap. Which is what Fouad Ajami says in today’s Wall Street Journal – only in nicer language.

There is nothing surprising about where Mr. Obama finds himself today. He had been made by charisma, and political magic, and has been felled by it. If his rise had been spectacular, so, too, has been his fall. The speed with which some of his devotees have turned on him—and their unwillingness to own up to what their infatuation had wrought—is nothing short of astounding. But this is the bargain Mr. Obama had made with political fortune. . . .

Mr. Obama himself authored the tale of his own political crisis. He had won an election, but he took it as a plebiscite granting him a writ to remake the basic political compact of this republic.

Mr. Obama’s self-regard, and his reading of his mandate, overwhelmed all restraint. The age-old American balance between a relatively small government and a larger role for the agencies of civil society was suddenly turned on its head. Speed was of the essence to the Obama team and its allies, the powerful barons in Congress. Better ram down sweeping social programs—a big liberal agenda before the people stirred to life again.

Progressives pressed for a draconian attack on the workings of our health care, and on the broader balance between the state and the marketplace. The economic stimulus, ObamaCare, the large deficits, the bailout package for the automobile industry—these, and so much more, were nothing short of a fundamental assault on the givens of the American social compact.

And then there was the hubris of the man at the helm: He was everywhere, and pronounced on matters large and small. This was political death by the teleprompter.

Americans don’t deify their leaders or hang on their utterances, but Mr. Obama succumbed to what the devotees said of him: He was the Awaited One. A measure of reticence could have served him. But the flight had been heady, and in the manner of Icarus, Mr. Obama flew too close to the sun.

As Ajami observes, we’ve had “stylish” presidents before – like JFK. “But Kennedy was an ironist and never fell for his own mystique. Mr. Obama’s self-regard comes without irony—he himself now owns up to the “remoteness and detachment” of his governing style. We don’t have in this republic the technocratic model of the European states, where a bureaucratic elite disposes of public policy with scant regard for the popular will. Mr. Obama was smitten with his own specialness.”

Read it all. Like I said, never fall for your own crap.

Hat tip to Ace.

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Barack Obama: C’est Moi, C’est Moi

by CrockerJanuary 27, 2010

While writing my earlier, French-tinged piece on Hope ‘n Change’s identification with the Sun King, I recalled the Lerner and Lowe tune from Camelot. The song is sung by Sir Lancelot, who – like Obama – esteems himself highly. The lyrics are both apt and hilarious. Robert Goulet played the role best [...]

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Federal Tax Receipts Continue to Tank

by CrockerJanuary 27, 2010

Last April, we commented on plunging federal tax receipts and predicted that the downward trend would continue. Unhappily, we were right – the trend continues, as noted by Liberty Works.
It’s that fear thing again.
Hat tip to Glenn Reynolds.

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Obama: L’etat, C’est Moi

by CrockerJanuary 27, 2010

Back in August, I commented on Hope ‘n Change’s reaction to criticism and opposition. I opined that he was something of a mama’s boy who was used to getting his own way and really did believe he was untouchable.
Since Scott Brown’s victory last week, however, we’ve been treated to a display of his petulance [...]

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Chinese Inflation – Coming to a Wal Mart Near You?

by CrockerJanuary 27, 2010

We’ve all been horrified by the sheer volume of money pumped by the Fed into our economy. We’re not the only guilty parties when it comes to quantitative easing, however – Britain has followed suit as well as the Euro zone.
But quite possibly the biggest offender has been China, whose economy is both awash [...]

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Don’t Drink the Holy Water

by CrockerJanuary 27, 2010

From the “news you can use” department. As reported in the Moscow Times, 117 people were hospitalized after drinking holy water during Epiphany celebrations in Irkutsk in Siberia:
More than 100 Russian Orthodox believers have been hospitalized after drinking holy water during Epiphany celebrations in Irkutsk, an official said Monday.
A total of 117 people, including [...]

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Scott Brown, Martha Coakley and the Blue State Rebellion

by CrockerJanuary 17, 2010

Politically, I’ve always thought it sucked to live in a deep-blue state in deepest-blue New England – after all, the name of this blog is “Behind Blue Lines” and we’ve incorporated the Checkpoint Charlie sign as part of our persona.
Over the past year, however, I’ve begun to think that the “progressive” establishment here is rotten [...]

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Google Bows Out of China?

by CrockerJanuary 17, 2010

It seems that Chinese censorship and demands made on foreign companies doing business in China go hand and hand. The more business, the more demands. But it appears that Google at least has had enough.
Google has attracted criticism for censoring search queries related to minor things like political liberty and such. Apparently [...]

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What a Week It’s Been

by CrockerJanuary 17, 2010

Sorry for the silence – unfortunately, work does get in the way and work always comes first, alas.
But what a week it’s been. The next four or five posts will be more of a retrospective with – hopefully – some fresh comment and insight. With luck, we’ll get back into a rhythm next [...]

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The Feds Hungrily Eye Your 401(k)

by MoodyJanuary 9, 2010

This morning I read a very disturbing news item by Theo Francis in Bloomberg. The essence of the article is that the Obama Administration is proposing to force retirees to purchase annuities via conversion of their 401(k) accounts. Now, the article does not fully define what “annuity” would qualify, but my guess is [...]

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How’s That Democrat Transparency Working Out? The Case of Jon Gruber.

by CrockerJanuary 8, 2010

I love this new “openness” by Democrats. Consider the following:
President Barack Obama: “My Administration is committed to creating an unprecedented level of openness in Government … Openness will strengthen our democracy and promote efficiency and effectiveness in Government.” (President Barack Obama, “Transparency and Open Government,” whitehouse.gov)
House Speaker Nancy Pelosi: “There has never [...]

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Harrison Bergeron Comes to the Screen

by CrockerJanuary 6, 2010

Kurt Vonnegut’s dystopian classic has now been turned into a motion picture entitled, “2081 – Everyone Will Finally Be Equal”. The film has a good cast that includes Patricia Clarkson, James Cosmo and Julie Haggerty. Here’s a clip:

2081 Film Clip from 2081 on Vimeo.

For those unfamiliar with the Vonnegut short story, Harrison Bergeron is [...]

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The Relentless Misery of the 1.6 Gallon Toilet

by CrockerJanuary 6, 2010

That’s the title of a posting by Jeffrey Tucker at the Mises Economic Blog. Tucker eloquently discusses the government’s assault on civilization as symbolized by the 1.6 gallon toilet, foisted upon Americans by federal regulation in 1992.
I’ve long maintained – and Tucker apparently concurs – that sewer workers are the true heroes of civilization. [...]

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Freddie, Fannie, Politicians, Bankers and Bubbles

by CrockerJanuary 5, 2010

Moody and I have commented numerous times on the GSE mess, the latest by Moody just before Christmas. Marla Singer at Zero Hedge currently has a good post pointing us to Matt Taibbi’s lengthy rumination at the True Slant blog. Bottom line, there’s plenty of blame to go around:
For what we’ve learned in the [...]

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Michael Yon Arrested At Seattle Airport

by CrockerJanuary 5, 2010

This is a breaking story.
I’ve long been a fan of Michael Yon, embedded war correspondent par excellence. Although now a civilian, Yon is special forces trained and understands the military like few others. His reporting in Iraq and Afghanistan has been both fearless and honest.
As reported on his Facebook page, Yon [...]

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The Strangeness of Charles Johnson

by CrockerJanuary 4, 2010

During the 2004 presidential campaign, Charles Johnson and Little Green Footballs effectively destroyed Dan Rather’s career by the simple act of posting an animated GIF file superimposing the bogus National Guard memorandum over a duplicate that he had created in Microsoft Word. For nearly four years, reading LGF was a daily ritual for me. [...]

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Yemen and the Gitmo Connection

by CrockerJanuary 4, 2010

As reported in today’s Times of London, Yemen is turning into a magnet for terrorists freed from Guantanamo. And Yemen is none too stable these days.
At least a dozen former Guantánamo Bay inmates have rejoined al-Qaeda to fight in Yemen, The Times has learnt, amid growing concern over the ability of the country’s Government [...]

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JetBlue Announces Idiotic New Federal Regulations

by CrockerDecember 29, 2009

In my prior post, I mentioned the new “arrangements” put into effect after the crotch bomber’s failed attempt at urban renewal in Detroit.
The new regulations make us virtual prisoners in our seats – no TV, no restroom, no blankets, no reading materials, hands where we can see ‘em. Here’s the announcement from a JetBlue [...]

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Fire Janet Napolitano – Now

by CrockerDecember 28, 2009

By now we’re all following the Nigerian ‘panty bomber’ and his failed attempt to bring down the Northwest Airbus over Detroit. Kudos to the passengers who took prompt action – I hope they gave him the beating he deserved.
What’s more interesting, however, is the pathetic response of Janet Napolitano and the TSA to this [...]

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Eminent Domain – Chinese Style

by CrockerDecember 28, 2009

Think the Kelo decision trashed U.S. eminent domain law? Welcome to eminent domain – China style. Stealing is more like it.
As reported in Sunday’s Washington Times, China’s “urban housing demolition law” is under increasing pressure after a couple of bitter recent protests ended with evictees setting themselves on fire.
The law has [...]

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“Collegiality” in the Senate – Democrat Style

by CrockerDecember 28, 2009

It’s always a source of wonder for me at the Democrat double-standard. Even in matters of “collegiality”.
When a Republican tells the truth in plain language, expect a torrent of ad hominem abuse. In fact, in any discussion with a leftist, it’s only a matter of time before the epithets begin to fly. [...]

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