Holder Sworn In as Attorney General
Eric H. Holder Jr. was recently named the nations 82nd Attorney General. When Holder was nominated for position,controversy arose concerning the role he played in the acquiescence of Marc Rich,a fugitive financier at the end of the Clinton Administration.
Holder, a former judge, prosecutor and deputy attorney general has a lengthy record of public service to help him prepare for his new job. Critics believe that Holder voted to acquit Rich only to please President Clinton.
The attorney general’s installation ceremony was held at the Lisner Auditorium at George Washington University. President Obama made a point to say, Holder is more eager to criticise his boss than please him.
A joke was made about the basketball skills of Obama."Mr. Holder was asked to compare his basketball prowess to that of the president, he told the reporter: “I’m not sure he’s ready for my New York game." He later said that the President would never get to see his skills.
Holder said that “independence of mind that justice requires, never hesitating to take on members of his own party, including those to whom he owed his job.
I really don't know if Holder is the one for the job. If there is controversy surrounding him before he even had a chance to explain himself. I think that the critics won't let it rest. The media likes to create drama.
Saturday, March 28, 2009
Saturday, March 7, 2009
A Bank Bailout That Works
The economic crisis that our nation is experiencing, is the affects of "many years of reckless behavior according to the article A Bank Bailout That Works. American banks have put our nation in a desperate situation. The majority of the U.S. banks, if held responsible for their poor choices, would have to close their doors.
Although no one really knows the extent of the economic deficient, the estimates are a whopping
$ 2-3 trillion or more. If any other businesses capital was inadequate they would have to close the doors. The faulty practices of the U. S. banks, don't force them to mark down assets to current market price. The U. S. is not the only country that has bailed out their banks, Chile, Argentina and Indonesia spent 40% or more of their GDP during their bailout.
Could the $ 700 million for the U. S. bank bailout only be enough for a down payment? During the Bush Administration the national debt rose from $ 5.7 trillion to $ 10 trillion. The large amount of money that the government is spending on the bailout could cost such programs as social security.
The American banks are like a toxic waste, now the government is paying the price to clean up their mess. The politicians that are responsible for the bailout, don't want to take credit for it. They say that they were forced to make the decision.
The lenders are the ones that made a mess out of our economy, therefore they should be the ones that are forced to clean it up. The taxpayers shouldn't have to pay the price for other peoples mistakes. I believe that the government should make examples out of them. If they are handed over the money, who's to say that it won't happen again.
Although no one really knows the extent of the economic deficient, the estimates are a whopping
$ 2-3 trillion or more. If any other businesses capital was inadequate they would have to close the doors. The faulty practices of the U. S. banks, don't force them to mark down assets to current market price. The U. S. is not the only country that has bailed out their banks, Chile, Argentina and Indonesia spent 40% or more of their GDP during their bailout.
Could the $ 700 million for the U. S. bank bailout only be enough for a down payment? During the Bush Administration the national debt rose from $ 5.7 trillion to $ 10 trillion. The large amount of money that the government is spending on the bailout could cost such programs as social security.
The American banks are like a toxic waste, now the government is paying the price to clean up their mess. The politicians that are responsible for the bailout, don't want to take credit for it. They say that they were forced to make the decision.
The lenders are the ones that made a mess out of our economy, therefore they should be the ones that are forced to clean it up. The taxpayers shouldn't have to pay the price for other peoples mistakes. I believe that the government should make examples out of them. If they are handed over the money, who's to say that it won't happen again.
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