Assalamu alaikum
I may pop in here from time to time, and I'll definitely be around the 'sphere.
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Here is another for W's *WTF* file:
Paul Wolfowitz is returning to the Bush administration as a security adviser, and even before it was official, the appointment was drawing boos, the New York Times reports. The controversial figure will take Fred Thompson’s seat as chairman of the Secretary of State’s International Security Advisory Board, an influential group studying arms control and military issues. • Wolfowitz ended his tenure as World Bank chief mired in scandal, but for critics his role as an architect of the Iraq war is more damning. “The advice given by Paul Wolfowitz over the past six years ranks among the worst provided by any defense official in history,” said one policy researcher. “I have no idea why anyone would want more.”
The point is that Obama gave every dime of Rezko's contributions to charity after questions were raised about Rezko's ethics.
From NBC's "First Read"
*Obama's Tough Press Day: Rezko is EVERYWHERE today. The Clinton campaign always wondered what it would take for the media to cover this story nationally. Well, have the candidate utter the words "slum lord" in a debate and voila. It's easily Obama's worst free press day of the campaign. It's also a bit ironic, too, given that the Clintons have had many more problematic donors than Obama (Hsu, Gupta, Chung, Denise Rich, those donations to the Clinton Library). Then again, the point of the Clintons pushing Rezko is to make Obama look like just another politician who got caught up with a questionable donor. And if the Clintons can prove Obama's no better than them then they can beat him on other points. It's also worth asking why Rezko, and not Wal-Mart, is getting all the play today. The Clintons -- at least in the short term -- won the spin war after a debate that looked like a draw to us. Meanwhile, the Obama folks are pushing the two Clintons vs. one Obama story, and it's getting its share of pickup. But nothing like Rezko today.*
Obama's own words in 2006:
*"With respect to the purchase of my home, I am confident that everything was handled ethically and above board. But I regret that while I tried to pay close attention to the specific requirements of ethical conduct, I misgauged the appearance presented by my purchase of the additional land from Mr. Rezko," Obama said.
"It was simply not good enough that I paid above the appraised value for the strip of land that he sold me. It was a mistake to have been engaged with him at all in this or any other personal business dealing that would allow him, or anyone else, to believe that he had done me a favor," the senator said.
The land deal came up in a court hearing Friday that delved into Rezko's finances. Obama said he has not been approached by federal prosecutors about the transaction nor has plans to go to them about it.
Obama and Rezko have been friends since 1990, and Obama said the Wilmette businessman raised as much as $60,000 for him during his political career. After Rezko's indictment, Obama donated $11,500 to charity--a total that represents what Rezko contributed to the senator's federal campaign fund. *
I've spent the last two days reading up on the Fair Tax. I'm still undecided as to the efficacy of the idea, but I lean toward the against column. I'm still trying to make sense of the price issue and what the end tax burden will be once state and local sales and property taxes are added in.
This piece (.pdf file) is a cogent argument against the idea, published last month in the journal Tax Notes:
*Quite apart from the fact that there is zero chance that Congress would ever enact it, it is clear,
writes Bartlett, that the FairTax simply would not work at all if it were tried, which is why no country
has ever attempted to collect all its revenue from a retail sales tax.*
I came across it at the Fair Tax Blog.
As a rule, I think it is absurd to increase the number of checks mailed out by the IRS by 12 fold. Also, as pointed out in the article, the FT's inherent rebate system is actually like a national welfare system. I can't understand conservatives being in favor of that.
Further, if all prices are needed to increase 23 percent to represent the inclusive tax, I think it would be quite hard to separate that rise from the concept of inflation in the layman's mind
Lastly, the author also points out that the FT would not be free from political manipulation, and thus tax policy would remain an issue to be wielded by politicians looking to curry favor with special interests or flat out buy votes.
I remain undecided, but the Fair Tax increasingly resembles more right wing hyperbole masquerading as foresight.
Of course, the possibility remains that I could be flat wrong.
GNR:
*A Florida development company is dropping its plan to build a golf-course community next to Haw River State Park and will sell the land to North Carolina's state park system.*
Congrats to John Young and all others who played a part in bringing attention to this matter.
Media General stock has lost about half its value since November 2007, that is after losing the first half of its value in the two years prior.
MG employees with huge IRA and 401k holdings of MG stock are beginning to revolt.
With the stock tanking below 20 just after Christmas, J. Stewart Bryan III exercised an option on more than 20,000 shares at a price of $31.44. That's $638,000 if you are keeping score.
*With Media General management slamming the door to the board for any large shareholder it makes it impossible for the retail investor to buy MEG. The funds and money managers are dumping this stock every day. Anyone that buys in get their head handed back to them on a silver platter. I can't understand the reason behind the 2 tier system. They will keep their 2 tier system with the class A shares selling for about 5 bucks. These assholes don't give a @#$% about anyone or anything. I'm selling all my MEG that I have bought MEG in my IRA for over 20 years and I paid much higher prices. Management can stick them up their ass. @#$% them all. 7-Jan-08 05:13 pm harley_riding_dude*
*I can put it into other funds. I paid a much higher price for the MEG I bought. I’ve paid over $37.00 for the entire period for the stock. It's half that now. I hate to sell MEG and go into a fund just when the market is starting to tank because of recession worries. I've known for some while that the internet was hurting MEG but this last 3 months have been brutal. I just haven't had a good opportunity to make the move. A small bounce. Management has not responded in any way. Sell the TV stations and pay down debt for Christ’s sake. Get rid of the 2 tier system so the large holder can participate in the decisions of the company. Get off your fat asses before MEG trades in the single digits. Maybe that is what they want so they can take the company private. 8-Jan-08 09:38 am harley_riding_dude*
No matter how bad the employees future looks, you can always rest in the comfort of knowing that J Stew's MG stock is down to a value of about $9 million, from $17 million in November 2007 and about $40 million in 2005.
That's some fancy bell curve you got going on there Stew.
As with Obama, I believe firmly that most Americans would do well to explore the candidates directly as opposed to taking the noise machine's word for it.
Huckabee appears to have an impressive record of public service.
Find out for yourself.
This tidbit alone is interesting:
*As former chairman of the Interstate Oil & Gas Compact Commission, Huckabee worked with the 37-state coalition to develop energy policy and lobby Congress on energy matters, such as the regulation of oil and gas production. He also is known nationally for his focus on technology in state government. He created an automobile license renewal system that’s become a model for states across the country. Huckabee directed the creation of other advancements that have made Arkansas a technology leader among the states.*
How about this:
*Huckabee first was elected lieutenant governor in a 1993 special election and was elected to a full four-year term in 1994. He was only the fourth Republican to be elected to statewide office since Reconstruction.*
He also says that Katrina showed "a meltdown of government at all levels" and was "a national outrage, and rightfully so."
I agree with that.
A simpleton? Music ain't that simple.
*Huckabee, 51, enjoys playing bass guitar in his rock-n-roll band, Capitol Offense, which has opened for artists such as Willie Nelson and the Charlie Daniels Band, and has played the House of Blues in New Orleans, the Red Rocks Amphitheater in Denver, CO and for two presidential inauguration balls.*
Updated: Byron York on how Huck did it.

Second random precinct in Des Moines:
156 Obama
89 Clinton
73 Edwards
56 Richardson
Updated:
WaPo:
Sen. Barack Obama (Ill.) appears to have secured victory in the Iowa Democratic caucuses, a stunning affirmation of his message of change and a stinging setback to Sen. Hillary Rodham Clinton (N.Y.) -- the long time national frontrunner.
Chris Matthews: "Voters are saying to the slick crowd "No Mas" in reference to rejecting Clinton and Romney in Iowa.
As Media General stock falls below 1992 levels, closing today at 17.15, as opposed to a 52-week high of 43 and more than 70 in 2005, this comment was seen and heard on the MEG message board at Yahoo finance concerning who was driving the sell off:
*It could be Harbert Management Corp, Gabelli, who knows. One thing is for sure. Media General Management has really upset someone. They have denied everyone that is not on the inside a board seat. These funds own the biggest majority of MEG class A shares. The little bit of class B the management owns holds all the voting rights for the board.
When will Media General management wake up??????????????
Do they even care that their long time employees and shareholders are losing everything? I don't think so.
They are hell bent to do whatever they damn well please. They don't appear to care if the stock hits $1.00 as long as they have absolute control of the board.
These assholes own it to the employees to do something to stop this freefall.
EARTH TO MEG MANAGEMENT. IS ANYONE THERE? harley_riding_dude*
Not too much to say yet, but in a random precinct in Des Moines, Obama has 186 to 112 for Edwards. HRC 80.