Showing posts with label Wall Street. Show all posts
Showing posts with label Wall Street. Show all posts

Wednesday, August 18, 2010

Charlie Rangel: The Bear Stearns Of US Congress

DENVER - AUGUST 25: Sen. Hillary Clinton (D-NY...Image by Getty Images via @daylifeThere are many people including several members of the New York congressional delegation (standing ovations to old man Charlie, come on) who seem to suggest Charlie is a good guy because other members of Congress have also been involved in the kind of behavior that Charlie has been involved in.

That is like saying because many banks were involved in the nefarious finance schemes, so the first bank you catch should be let go.

Charlie Rangel in the news is a US Congress that passed Wall Street reform but is itself fundamentally unreformed. Standing by Charlie is exactly the wrong thing to do. The right thing to do is to pass Congress reform. And there is enough time before the November election to do that.

The US Congress that made bad Wall Street behavior possible stays unreformed. That is the news here. The blame goes to both parties. And the work for Congress reform has to start NOW!

This is not a one party versus the other party issue. This is about the American people losing further faith in the US Congress, in the political system. This is about fighting impending cynicism.

This is not a one party versus the other party issue but is going to be if foolish Dems keep standing by Rangel. Rangel is indefensible. Instead stand on the side of Congress reform.
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Sunday, August 15, 2010

Reshma's Is Top Primary Race To Watch In America: BusinessWeek In May

Image of Reshma Saujani from FacebookImage of Reshma SaujaniMay 6, 2010: BusinessWeek: Key Primary Races Worth Watching
  1. Reshma Saujani Vs. Carolyn Maloney (New York, House, D)
  2. Alan Mollohan Vs. Mike Oliverio (West Virginia, House, D)
  3. Trey Greyson Vs. Rand Paul (Kentucky, Senate, R)
  4. Blanche Lincoln Vs. Bill Halter (Arkansas, Senate, D)
  5. John McCain Vs. JD Hayworth (Arizona, Senate, R)

Reshma Saujani is the top political news in America this election season. 2010 is to Reshma what 2004 was to Barack Obama. She has not reached that mainstream imagination yet, but consider yourself lucky if you know her already, either in person or in name.

It is amazing she topped this poll in May when the list includes also Senate races including the Senate race of the guy who I think just ran for president not long ago.

This list includes all races for both the House and the Senate and Reshma is top of the list. This is Reshma's year. And if Barack Obama recognizes that fact, he gets to keep the House in November. I say starting from September 15 just completely take over her schedule. Call her up and say, Reshma you are coming with me, you are crisscrossing this country with me. Last I checked I was still leader of the party.
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Reshma Saujani Is The Second Stimulus Bill This Country Needs

"Thousands gather at the Subtreasury Buil...Image via WikipediaNew York politicians in Congress who have raised gobs of money over the years from Wall Street have not known how to do the nuance thing. They have not known the difference between enacting Wall Street reform, which has been necessary, and refusing to demonize Wall Street. The Wall Street reform bill they have passed is weak, and their demonization of Wall Street has gone too far and has hurt the chances of this country bouncing back to low unemployment levels.

One politician in this country who has been able to do the nuance thing is Reshma Saujani and she has done it when she has not had the power that a Congressperson has. Reshma Saujani winning on September 14 has national implications. That is why the New York congressional delegation needs to do a fundamental rethink. It needs to distance itself from Rangel/Maloney, and it needs to come out in support of Reshma Saujani.

Because it is about jobs. It is about creating jobs. It is about the number one issue that will decide if Democrats or Republicans will take the House in November. The voters across this country are angry enough that they just might make the entire New York congressional delegation go stand in the corner.

Standing by Maloney is outright the dumbest move any New York politician could make right about now. To stand by Maloney is to wish a permanent 10% unemployment rate upon the American people. You will not be forgiven.
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Reshma's Integrity On Ground Zero Mosque And Wall Street

Schumer's district from 1993 to 1999Image via Wikipedia

The Washington Post: Democrats' Craven Silence On Ground Zero Mosque Continues: I asked Chuck Schumer's office for his position on the Islamic center this morning. All his spokesman would say is that he "not opposed" to the plan. Asked for Schumer's views of the opposition, and asked if he actively supports the right of the center's builders to put it two blocks from Ground Zero, Schumer's spokesman declined to elaborate and said Schumer was declining an interview. ..... Schumer is also refusing to answer direct questions from reporters about this topic. ...... Dem Rep. Anthony Weiner, who's been widely hailed as a hero on the left for his supposed willingness to engage the opposition, is also refusing to say word boo about his position on the Islamic center. ...... he can't bring himself to stand up for their right to worship two blocks from Ground Zero. ...... Here's another Dem who has done the right thing: Reshma Saujani, an attorney and activist who is running against Dem Rep. Carolyn Maloney of Manhattan.
President Obama needs to give this country a second stimulus bill, and this is what it has to look like. Reshma wins big on September 14, and he needs to outright go ahead and endorse her to make doubly sure she wins on September 14. Then he crisscrosses the country with her all the way to November. She requests her to raise as much money as possible. She enters Congress. He asks her to help him mend the frayed relationship between Wall Street and Main Street. That is what the second stimulus "bill" will look like. You want Reshma Saujani in Congress because you want this country to go back to work. This Reshma-Maloney contest stopped being just about District 14 a long time ago.

The bozos don't tire of calling Reshma "Wall Street's candidate." These are people who wish a permanent 10% unemployment rate on this country. Reshma wants that to come down to a more manageable 5%. And she knows the US federal government can not afford another trillion dollar stimulus bill. But she also knows private companies are sitting on a trillion and a half dollars that they could be putting to good use right now but aren't because Wall Street demonization has gone too far. When Maloney criticizes workers on Wall Street for making their individual contributions to Reshma which they can do as citizens while taking gobs of Wall Street PAC money herself, you know Wall Street demonization has gone too far, you know Maloney's hypocrisy has monkeyed to ever new heights.

Reshma Saujani was John Kerry's top 10 fundraisers in 2004. But that was in the pre-Wall Street demonization era, and so noone called her Wall Street's fundraiser back then. And now she has been raising money like an incumbent, and bozos are like, wait a minute.

She is really good at raising money. Like really, really, really, really good. Fundraising happens to be one of my personal blind spots, so I appreciate it even more. Da how?

"Father, forgive them, for they know not what they do." (Bible)

Money, message, organization are the three fundamentals. She is exceptionally good at all three of them. I have never met or read about a politician anywhere who was so exceptionally good at all three. Most people are good at one or two of the three at most. Some are excellent at one of the three. She is excellent at all three. That is remarkable.
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Saturday, August 14, 2010

Perfect Time For Congress Reform

Unofficial seal of the United States CongressImage via WikipediaBefore the November election is a perfect time to enact Congress reform. It is enough time. It is about time, don't you think?

Wall Street has been reformed, but the US Congress that made Wall Street bad behavior possible is still the same old, same old. And that is pointing fingers at both the parties.

Charlie Rangel is the Bear Stearns of US Congress. The damage has to be contained this time. The damage has to be localized. This guy has to be isolated and quarantined.

It has been hard for me to read up on his 13 allegations. I have actively tried to avoid doing that. It is like watching crime happen in real time. It is not a good feeling. You can avoid the news articles. But it is near impossible to avoid the headlines. They are all over the place.

Look at some of what this guy has done. He would send a letter on official letter pad to some big, fancy corporation asking them to donate 100,000 dollars to the Charlie Rangel Vanity Endowment Fund and when they did he would quietly put in an earmark in some bill to send 10 million dollars to that corporation. That is every taxpayer's dream money manager. And that is only one of the 13 allegations. One thing that has not even been included in those 13 allegations is how his relatives, friends, associates have been running this network of NGOs. Donating to those NGOs earned you "virtual" currencies in the Rangel empire. Rangel would do you favors if you donated to those NGOs from which Rangel made no profits.

The show on the Hill has started to stink.

The Huffington Post: Reshma Saujani: A New Ethic of Leadership in Broken Washington
Eight House members, from both parties, are currently under investigation for raising money from financial services lobbyists just before voting on the financial reform bill..... independent ethics oversight, curb conflicts of interests, and eliminate the influence of lobbyists. .... Today, members of Congress must police themselves...which is why they don't. ....... At the same time that BP's deep sea drilling permit was under review or the Wall Street reform bill was being negotiated, members of Congress maintained hundreds of millions of dollars in personal investments in the same companies they were in the process of regulating. While peddling poisonous subprime loans, dozens of Congressional members actually betted against the housing market prior to the 2008 crash and their investments outperformed the market by over 12 percent....... In 2009 alone, more than 13,000 registered lobbyists spent more than $3.5 billion influencing elected officials on legislation, the highest amount ever recorded...... I have not taken a penny of special interest corporate PAC money during my campaign, and I believe all PAC contributions should be banned. It is time for a new system of publically financed campaigns
NYDailyNews.com: Democrat Using Rangel Against Democrat
Maloney wrote a $2,500 check to Rangel’s re-election campaign ..... Maloney has chosen to donate to an elected official facing a 13 count ethics investigation — and she is urging Maloney to reconsider.
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Wednesday, August 11, 2010

Nadler Should Vacate The Maloney Sinking Ship

El Dorado, the oldest working carousel in the ...Image via Wikipedia
Nadler: Saujani Needs to 'Check Her Facts' (observer.com)

And we thought Maloney was the only one behind the failed 9/11 health bill. All sorts of people are now coming out of the woodworks saying me too. Where have you been? El Dorado?

To stand by Maloney is to stand by Rangel is to stand by ethics violations. Nadler needs to take precautions here. I don't know much about him but he comes across like he might be a good guy. But even good guys sometimes make mistakes. And he is making one now.

Maloney is a sinking ship. Vacate.

Look Nadler dude, it is like this. The party you are a member of is on its way to an intellectual bankruptcy by 2016. You prevent that by bringing along Reshma Saujani. Why do you think Maloney is so scared of debating Reshma? It is because she knows Reshma is going to talk 2016 ideas. Maloney has no idea what those 2016 ideas are. Do you care about the future of your party? If you do, you are standing on a sinking ship. Vacate immediately.

Who Is The Congressperson For Ground Zero? Not Maloney (democracyforum.blogspot.com)
The Queens Gazette: Maloney Facing A Tough Challenge
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Organized Labor Bosses Backing Maloney Are Acting Blind And Stupid

District 14Image via Wikipedia
I was slightly worried when the labor bosses were all with Hillary in the fall of 2007. Bu then once the election results started pouring in it became very obvious to me that these labor bosses are like reptilian tails, they are like the big tail of a dinosaur. You don't look at that tail to look at future trends. That tail is absolutely the last to move. The labor bosses don't give you victory. They come to you after your victory. And that's fine. We welcome them to our victory party on September 14 with open arms.

Maybe these labor bosses are not educated people. When was the last time they read a book?

They are like, oh, Maloney voted for health care reform and so we are for Maloney. The election against the Republican candidate is in November, stupid. The two people on the ballot on September 14 were both for health care reform. They are both Democrats.

Maloney voted for health care reform. Of course she voted for health care reform. She is your classic checkbox Democrat. But someone who votes for health care reform is not good enough to be representing District 14. District 14 is special. You want someone in Congress who would have provided leadership on health care reform. You want a thought leader. You want a national halo around your Congressperson. You want a Super Star. You deserve better than Maloney. Maloney is too "ordinary." (The Washington Post)
NYDaily News: Reshma Saujani Says: Check The Facts, NY-14: a new "Check The Facts" web page .... Maloney has spent more time at posh fundraisers than doing her job on Wall Street reform....... Carolyn Maloney compromised her integrity by engaging in the same unethical behavior as eight other House members currently under investigation
NYDaily News: Firefighters Hammer Maloney Opponent on 9/11 Remarks
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Friday, August 06, 2010

Look Who Is Talking: Carolyn Maloney's Dipshit Lies

Carolyn B. Maloney, member of the United State...Image via Wikipedia
Our Town: Upper East Side: Maloney Pushes Back on “Dishonest” Attacks
Rep. Carolyn Maloney is pushing back on her challenger’s claims that she takes millions in special interest money.
So is Carolyn Maloney saying she has NOT taken special interest money? Why does she not spell it out? Why this non denial? Sorry, but I am being able to see through this stunt. Try something else. Maloney has taken half a million dollars from Wall Street PACs alone, and that's just for this election cycle.
Our Town: Upper East Side: Maloney Pushes Back on “Dishonest” Attacks
Maloney’s campaign sent out a mailer highlighting newspaper editorials and fact-checking websites that rebuff Reshma Saujani’s claims. Saujani’s campaign has repeatedly noted that she has not taken money from Political Action Committees while Maloney has accepted $2.5 million throughout her career.
Which newspaper editorials? Which fact checking websites? I have a Google Alert thing set up on the Reshma Saujani name. I get daily email from Google when someone a-n-y-w-h-e-r-e writes anything about Reshma. I have not seen those editorials. Where are they? Which particular Reshma claims? The two claims in this particular paragraph that (1) Reshma "has not taken money from Political Action Committees" and (2) " Maloney has accepted $2.5 million throughout her career," well they are true. They are facts like the height of Mount Everest is a fact.
Our Town: Upper East Side: Maloney Pushes Back on “Dishonest” Attacks
“Independent news organizations and watchdog groups agree: Reshma Saujani’s negative campaign is twisting the facts and distorting the truth,” Maloney’s mailer reads. “On Sept. 14, say NO to Reshma Saujani and her dishonest negative campaign.”
Look who is talking. The person who t-a-k-e-s Wall Street PAC money - half a million dollars total - and then turns around and says Reshma Saujani, who as a matter of principle takes NO money from PACs whatsoever, is The Wall Street's Candidate. I agree with Maloney on this one. Vote down the dishonest person on September 14. That dishonest person happens to be Carolyn Maloney. Carolyn Maloney voting for the Iraq War is negative. Carolyn Maloney voting for the Patriot Act is negative. Carolyn Maloney doing BP's bidding in Congress is negative. Carolyn Maloney making Wall Street bad behavior possible over a decade is negative. Carolyn Maloney now standing in the way of Congress reform is negative. Vote down the negativity on September 14.
Our Town: Upper East Side: Maloney Pushes Back on “Dishonest” Attacks
criticized Saujani, a former hedge fund attorney, for claiming she doesn’t take “special interest money.”
That claim is so very true. Reshma 2010 is the successor camapaign to Obama 2008. The people wo put Obama into power now want power for themselves and Reshma 2010 is their vehicle. Obama 08 took no PAC money. Reshma 2010 has taken no PAC money. Obama 08 was all grassroots. Reshma 2010 is a grassroots effort. Carolyn Maloney, stop lying. But then I am not counting on it.
Our Town: Upper East Side: Maloney Pushes Back on “Dishonest” Attacks
she does take campaign cash from employees of Wall Street companies such as Goldman Sachs, Morgan Stanley and Merrill Lynch.
She sure has. After 18 years of representing the district in Congress, Carolyn Maloney still does not know a lot of the workers of Wall Street happen to live in District 14. As citizens of the United States, they have a right to make their individual contributions.
Our Town: Upper East Side: Maloney Pushes Back on “Dishonest” Attacks
Saujani’s claim that Maloney, who was on a committee that dealt with the details of financial reform legislation, went to a James Taylor-Carol King concert fundraiser and took money from “special interests she is supposed to regulate.”
Charlie Rangel, Carolyn Maloney And Their Ethics Violations

Look who is talking: Ed Koch And Carolyn Maloney: Bush Democrats

Carolyn Maloney, do democracy a favor, show up for the August 26 debate at Baruch College.
First Debate August 26, Thank You Baruch College
We Will Debate An Empty Podium If We Have To
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Charlie Rangel, Carolyn Maloney And Their Ethics Violations

The corner of Wall Street and Broadway, showin...Image via Wikipedia
Charlie Rangel has been charged with 13 "serious" - the president's word - ethics violations. A few weeks back Carolyn Maloney raised money at an event from some Wall Street PAC types at a time when the Congress and Wall Street were in negotiation on the Wall Street reform bill. Similar behavior had six other members of Congress under investigation.

Why is Carolyn Maloney not under investigation? To have Charlie Rangel under trial, and to not have Maloney under investigation smacks of double standards, smacks of racism, frankly.

They both engaged in similar behavior, but old man Rangel is the only one being put on trial for it. Why would that be?

We now live in the age of Obama. Such double standards should no longer be the way we conduct our business. Put Maloney under the ethics bus, yo.
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Tuesday, August 03, 2010

Organized Labor Has No Business Endorsing Maloney

Democratic Party logoImage via Wikipedia
Obama Has No Business Kissing Maloney

Organized labor in this city has major business pounding the pavements for the winner of the Democratic primary, but organized labor has no business throwing its weight into the wrong hat for the Democratic primary.

Reshma Saujani is the daughter of political refugees. Talk about starting from scratch. She went to public schools all her life. The working class families of this city might be able to relate to that.

To Mansion Maloney, all labor issues are abstract.

I am a free marketeer because I believe in democracy. There can be no democracy without a free market economy. A healthy American economy is one where Main Street and Wall Street are no longer working at cross purposes. You need someone like Reshma Saujani who can claim allegiance to both sides to be able to bring about that healthy relationship. It is not one or the other. We need both. We need entrepreneurs and we need workers. We need Main Street and we need Wall Street. We need strong public schools so that it does not matter where your starting line in life is.

In Reshma Saujani families of organized labor have a living, breathing embodiment of someone they can talk about to their kids as an example of someone who has achieved regardless of what her starting point in life was.

In this city of immigrants, Reshma Saujani is the ultimate immigrant. And organized labor has to claim her candidacy as its own.

Maloney, over the years, has voted the way organized labor would expect a Democrat to vote. But that makes her a checkbox Democrat. That does not make her a leader. Reshma Saujani is a Democrat. She too is going to vote like a Democrat on issues of particular interest to labor. But she is a leader. She is going to come up with the new thoughts for a new century. Organized labor needs to change with the times and stay relevant.

John Liu: Mayor Of NYC: 2013
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Saturday, July 31, 2010

Standing At 40-60 Now

New York Stock Exchange on Wall Street in New ...Image via Wikipedia
City Hall: Do New York Democrats Have A Wall Street Problem?
Some think that if Saujani can win at least 40 percent of the vote against Maloney, then it will unleash a flurry of interest in her kind of insurgent candidate: young, tech-friendly and no enemy of Wall Street.
Only two weeks back I did some momentum talk here, and I noted that Reshma 2010 moved from a 10:1 ratio trailing Maloney in mid May to a 3:1 or a possibly 2:1 ratio by mid July. That was remarkable. I also noted that the momentum was not a line graph but a curve graph. I have been proven right. Now Reshma 2010, barely two weeks later, stands at 60:40. The curve gets even steeper with every passing week. We got six full weeks.

With this new number, I can see a debate happening some time in August, or maybe even two. Maloney's political consultants are going to crunch these numbers and they are going to say, this race is competitive now, we can't afford to not debate, no longer. At 70-7, debating is a mistake, at 60-40, not debating is a mistake. This Reshma person can no longer be ignored.

September 1-14: The Niagara Falls Part
Reshma On Track To Taking Over This Blog
Reshma Saujani: Top 10 Women To Watch In America
Reshma's Momentum: Line Graph Or Curve Graph
Reshma's Momentum: 70% Vs. 7%, 24,000 Vs. 8,000 Signatures, $2 Vs. $1.2 Million

Reshma Saujani, among the top 10 women to watch in America, Reshma Saujani, the top woman to watch in New York City. (Reshma Saujani: Top 10 Women To Watch In America)

Reformed Wall Street: No Longer A Problem (Immigration Now?)

City Hall: Do New York Democrats Have A Wall Street Problem?
Ask anyone on Wall Street to host a fundraiser for a Democrat in New York these days, expect a blank stare. Ask any Democrat to accept a donation from someone working for a bank, investment firm or hedge fund, and expect the same reaction....... They wonder if some Democrats really understand how easy it would be for them to move their firms to friendlier shores, knowing they (or at least the disproportionate 30 percent of the state’s tax revenues they produce) would be missed..... the financial industry has so far this cycle contributed $84.5 million to Democratic candidates, down from $241.7 million the last time around—a 65-percent drop-off largely from disenchanted New York donors. ...... wonders if the government realizes how transportable his business is, or how overly reliant the state is on Wall Street revenues. Because the financial services industry votes too ...... “I think maybe it’s gone too far, the demonizing.” ..... Andrew Cuomo managed to raise an impressive $23.6 million with the help of some very generous people on Wall Street ...... the complex relationship that exists between Wall Street and the Democrats. ...... Cuomo, like practically every elected official in New York, believes he has been successful in balancing his approach to Wall Street, and put some distance between his campaign and the anti-Wall Street mood of many of his fellow New York Democrats. ........ Bankers like to back winners, and in New York, the winners tend to be Democrats. ....... Washington and Wall Street both should temper their expectations of each other. ...... “There’s a reason for frustration on both sides,” Wylde said. “There hasn’t been as much rational dialogue, conversation. There’s tended to be more demonizing on both sides. A lot of the business community feels poorly served by Washington. On the other hand, Washington is suffering under the anger of the whole country that they allowed Wall Street to go too far.” .... Bloomberg’s warning of a mass exodus that would destroy the city and state
Wall Street has been reformed. That reform was so very necessary. It was not a perfect reform bill, but it was a good one. And we can build upon its success to enact further reforms, some of which Reshma has pointed out.

What has not been reformed yet is Congress. It was Congress that made Wall Street bad behavior possible. We take a step in the direction of reforming Congress when we ditch Maloney on September 14.

Despite all the demonization and the lies spread by the Maloney camp, Reshma Saujani has strong credentials when it comes to Wall Street. (Barack Obama: The NRA's Candidate)
  • She has not taken a dime in Wall Street PAC money. That makes Reshma 2010 like Obama 2008. 
  • She has been for Wall Street Reform. After Obama signed the Wall Street Reform Bill, I read the statements by Maloney and Reshma. Maloney is like, and yes, I said hello to Barney, and I winked at Pelosi when I saw her pass down the hallway. Her entire statement is full of such name droppings. Whereas Reshma's statement praises the bill and calmly points out the weaknesses in the bill that will have to be looked into during next attempt. Reshma knows her patient, Maloney does not. Maloney is all fluff. 
  • Reshma has exhibited remarkable integrity in not riding the Demonize Wall Street bandwagon. It would have been the easiest thing to do this year. This show of integrity will put her in a good place when it is time to mend the frayed relationship between Main Street and Wall Street. 
  • Reshma is the national candidate to the tech sector. Couple that with her knowledge of Wall Street, and you are looking at someone who is going to play a decisive role in steering Wall Street's enormous resources into creating the jobs, companies and industries of tomorrow. (Maloney: Stifling Debate, Stifling Innovation, Stifling Job Creation, Reshma Saujani: South Asian Powerhouse, National Candidate To The Tech Sector, Digital Dumbo 18: The Dumbo Loft
Video: The Matrix Reloaded Freeway Chase (watch full screen) (Iran)

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Wednesday, July 28, 2010

Keeping The House And The Senate


Nancy Pelosi, Speaker of the United States Hou...Image via Wikipedia
Since June 2008 I have not followed Obama daily for a few hours each day like I did before that for a year and a half. So I don't exactly have my finger on the pulse. But following the headlines has been as good as seeing hill top to hill top.

The Dumbfuck Immigration Laws

The political landscape as it stands right now is a mystery to me. There are few things I can say for sure, but I can try and attempt and make a few guesses.

On immigration I don't know what to say. This issue is hard for me because (1) it touches me at the bones level, (2) I know Obama feels deeply about this issue, it touches him almost at the bones level, he understands it to be a civil rights issue, and (3) I would not want him to lose the House and the Senate over it.

How do you kill the snake without breaking the stick?

I first argued that immigration has to be saved for 2011. Then I argued it perhaps needs to be worked on now. Now I am thinking it has to be worked on now but only if work on it can be completed in two months. If you can be done and over with by the end of September, start work on it now. If not, save it for 2011. 2009: Stimulus. 2010: Wall Street Reform. 2011: Immigration. 2012: Deficit.

Immigration Now?
Save Immigration For 2011

So how to keep the House and the Senate? Obama could do it because he has done this before. He has defied history before. There was no rule in any book anywhere that said a black man could end up in the White House.

Obama's Got Momentum: He Could Defy History In November

There is a rule in the books that says a president does not get to keep the Congress during his first mid term elections. Defying this rule should be much less challenging than that first rule. After all, race is America's original sin.

There are a few pointers I could give.
  1. I like Harry Reid and Nancy Pelosi, but it is the president who has to step up. This has to be his election. He needs to campaign and campaign vigorously. He needs to treat 2010 like it were 2012.
  2. He has to make the point that had he been the president from 2000 to 2008, there would have been no Iraq War and there would have been no Wall Street meltdown. Had there been no Wall Street meltdown, there would have been no bailout and no stimulus bill. The stimulus bill was expensive, but minus that we would have been in the middle of a Great Depression right this moment. If you think 10% unemployment is ugly, try imagining a 25% unemployment.
  3. The bailout was expensive but the banks already paid for it for the most part. The stimulus bill was expensive, but the economy will pay for it over time. That money did not go down the drain.
  4. We can not run these deficits forever, but now is not the time to cut back. If we cut back now, we run the risk of running the economy to the ground all over again. The stimulus will have gone to waste. 
  5. The deficit will be eliminated, and that will happen while he is in the White House. But now is not the time.
  6. Health care reform happened. That was a once in a century thing.
  7. Wall Street has been reformed. That has been a once in a half century thing.
  8. It makes no sense to take a winning team out of the league.
  9. A hole that was almost a decade in the digging, I never promised to take you out of it in one year. We are not there yet fully, but we are on the right track, and we need to stay the course. Let me keep my team that has let me get this far. I have bigger and better things in mind that I want to do. And I need my team to stay with me.
  10. I want the unemployment rate to come down to 5% from near 10% more than anybody else. And that is why I need your continued support. Just like the deficit will be eliminated on my watch, unemployment will be brought down to about 5% on my watch, but I need to keep at it. And I need to get to keep my team.
I think the Dems stand to keep the Senate right now, and they stand to keep the House, although I expect the margins to get slimmed, especially so in the House. But then we have three full months. And three full months are a long time. Three months are a long time for the political winds to blow. Obama could make them blow his way.

Obama's 2010 election effort has to be about the economy first, second and third. I can see him defying history "but the arc does not bend on its own."

Pelosi Will Continue As Speaker
John Liu: Mayor Of NYC: 2013
Reshma Saujani: Top 10 Women To Watch In America


New York Times

Budget Chief Tried to Tilt Power to Executive Branch
Editorial:Keeping Politics in the Shadows
Early Word: Off to New Jersey and New York
Year of the Women in Oklahoma
Democrats Confirm More House Seats in Play
Obama Meets With Big Donors
Texas Battles Health Law Even as It Follows It
In Study, 2 Economists Say Intervention Helped Avert a 2nd Depression
From Blagojevich Lawyer, Final Argument With Drama
Massachusetts Nears a Change to Electoral Votes
How G.O.P. Senators Plan to Vote on Kagan
Obama Assails Republicans on Campaign Finance
New Health Official Faces Hostility in Senate
Blagojevich Corruption Trial Wraps Up
Panel Seen Approving F-35 Engine, Risking Veto
Lawmakers Seeking Cuts Look at Nonprofit Salaries
Washington Memo: Warren’s Candidacy Raises a Partisan Debate
When Race Is the Issue, Misleading Coverage Sets Off an Uproar
At the White House, Losing a Game of Phone Tag
Wedding Is Talk of the Town, but Nobody’s Talking
Cities View Homesteads as a Source of Income
Geithner Dismisses Concerns on Letting Tax Cuts Expire
Salon: Tea Party embraces billboards for anti-Obama message delivery
Huffington Post: Obama Could Face Primary Challenge Over Afghanistan (VIDEO)
The Politico: Rangel talks in jeopardy
Ezra Klein: How to end the filibuster with 51 votes
CNN Political Ticker: Santorum huddles with former aides to talk 2012
Interactive Feature: Fund-Raising in the Most Competitive Races
Interactive Map: Tracking the Races
Interactive Timeline: Barack Obama
Interactive Feature: Inside Congress
Interactive Timeline: Nearly 100 Years of Milestones and Defeats
On the Surface, Gulf Oil Spill Is Vanishing Fast| Concerns Stay
Maureen Dowd: Lost in a Maze
Thomas L. Friedman: Want the Good News First?
Videos Rouse Russian Anger Toward Police
New York to Pay $7 Million for Sean Bell Shooting
Op-Ed: Stop Raiding the Ivory Tower Restaurants Grading Begins in New York
Illegal Immigrants Caught on a Yacht, in a Web of Maritime Laws
Student Injury at Protest Leads to Battle in Israel
Campaign Finance Bill Is Set Aside
18 States and District of Columbia Are Finalists for Education Grants
Ex-Regulators Get Set to Lobby on New Financial Rules
U.S. Military Chief Presses Iraqis to End Deadlock, Citing Risks to Security Gains
China Pushes to End Public Shaming
Remarkable Creatures: Translating Stories of Life Forms Etched in Stone
Advance on AIDS Raises Questions as Well as Joy
Essay: Lifesaving Medications, Through a Back Door
Tobacco Funds Shrink as Obesity Fight Intensifies
Can Migraines Damage the Brain?
Economic Scene: The Case for $320,000 Kindergarten Teachers
On Education: Equity of Test Is Debated as Children Compete for Gifted Kindergarten
The Roller-Coaster Ride Called a Short Sale
Wind Drives Growing Use of Batteries
Disney Buys Playdom in $763 Million Deal, Becoming Hollywood Leader in Social Games
Telefónica Wins Control of Brazilian Operator After Raising Bid
Sprint Nextel Reports Gain in Subscribers
Indians 4, Yankees 1: Yankees Are Foiled by a Pitcher in His Debut
Mets 8, Cardinals 2: Francoeur, Possible Trade Bait, Makes the Most of an Unexpected Start
Practical Traveler: Avoiding a Large Phone Bill When Traveling
Next Stop: A Swedish Island for Respite or Revelry
A London Chef Looks to a Different East
The Curious Cook: To Enhance Flavor, Just Add Water
Drilling Down: Why Elite Shoppers Eschew Logos
G.M. Puts $41,000 Price Tag on the Volt
Appeals Court Rejects Effort to Create Hybrid Taxi Fleet
Editorial: Rethinking Criminal Sentences
Film: Duvall, Nearly 80, Is Still a Darling of Hollywood
Hero of Comic-Book World Gets Real
Surviving an Epic Night of Being Everything and Nothing
Theater Review | 'Notice Me': Angry, Bored, Conflicted. Group Hugs, Anyone?
Books of The Times: Love Found Amid Ruins of Empire
Political Times: Race: Still Too Hot to Touch
Facebook Is to Power Company as ...
The Web Means the End of Forgetting
The Yoga Mogul
New Orleans’s Gender-Bending Rap
More City Preschoolers Are Perfect, Test Scores Show
Poll: Older Americans Perplexed by Health Care Law
A New Concept in Health Care

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