Sewage Just Starting to Flow on the Chicago-DC Aquaduct

Robert Taylor just sent me this link to Rush Limbaugh's site (also, h/t Clayton). Rush once again demonstrates why talk radio is necessary to counteract the pissant partisans on the networks and New York newsletters.

>FITZGERALD: I should make clear the complaint makes no allegations about the president-elect whatsoever, his conduct. This part of the scheme lost steam when the person that the governor thought was the president-elect's choice of senator took herself out of the running. But after the deal never happened, this is the governor's reaction, quote: "They're not willing to give me anything but appreciation. Bleep them."

RUSH: All right, now, the FBI affidavit says that Blago had been told by an advisor, quote, "president-elect" -- that's Obama; we only have one president-elect, right? I cannot be confusing anything. Quote, "the president-elect" -- this is an advisor talking to Blago. "The president-elect can get Blagojevich's wife on paid corporate boards in exchange for naming the president-elect's pick to the Senate." But that wasn't good enough for Blago. He wanted something for himself. And he didn't want to have to wait two years for his term to expire, I guess, before his wife could be appointed to these boards. And that's when he came out with the MF-er on the tape. So Obama has somebody in mind for this seat. We just don't know who it is, and Blagojevich was not happy about it. Here's one more bite from Fitzgerald.

FITZGERALD: We have Senate seat that seemed to be as recently as days ago auctioned off to the -- you know, to the highest bidder for campaign contributions, and Governor Blagojevich own words on the tape of the bug that's set forth in the complaint talked about selling this like a sports agent. So we stepped in for a number of reasons. Basically, as I said before, we're in the middle of a corruption crime spree, and we wanted to stop it.

RUSH: "We are in the middle of a corruption crime spree, and we wanted to stop it." They made their move before the Senate seat could be sold. And have you also noticed, ladies and gentlemen, the parade of daily Obama press conferences seemed to have stopped.

Citizens' Welfare Preferable to Bankers'

Contrairimairi sent me an e-mail from TJ Birkheimer, part of which is copied below. Here's an alternative idea along the same lines as Birkheimer's. Rather than bail out failing banks and insurance companies, combine and liquidate them, spinning off the non-performing mortgages and going after all current and former officers for restitution.

Break the financial institutions' assets up into 250 parts, producing 250 smaller banks and insurance companies. Choose the CEOs of the new banks and insurance companies randomly from the Yahoo! people search page. Subsidize the 250 new banks to the degree necessary to make them solvent. Use the remainder of the $750 billion bailout money to provide unemployment insurance to any employees who lose their jobs and need to be on the dole.

This plan would have several advantages. First, by hiring new CEOs out of the phone book, more competent management would be obtained than through the firms' HR systems.

Second, instead of a few large firms that are too difficult for their present managers to run, there will be 250 smaller, more nimble firms with better leadership.

Third, rather than subsidize mismanaged businesses, citizens' welfare would be directly protected.

In addition, the public might consider whether commercial banking ought to be phased out and replaced by Savings & Loan (non-fractional reserve) style banking. The public ought to look at the root cause of this problem, the Federal Reserve Bank, and abolish it in place of a gold standard.

Progressivism is so dominant that public discussion about nonsensical cries of "depression" and "crisis" proceeds on silly assumptions.

Here is an excerpt from Birkenmeier's e-mail:

>Hi Pals,
I'm against the $85,000,000,000.00 bailout of AIG.
Instead, I'm in favor of giving $85,000,000,000 to America in a "We Deserve It Dividend".
As for AIG - liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.
Birk

T. J. Birkenmeier, A Creative Guy & Citizen of the Republic