Ben Bernanke Lies!

Federal Reserve Chairman Ben Bernanke had stated to U.S. Congress that he never forced Bank of America to purchase Merrill Lynch. But just earlier this month Bank of America’s CEO Kenneth Lewis stated that it was made clear that the purchase must go through. CEO Kenneth Lewis said that Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson threaten to replace the bank’s board members and himself if they decided not to go on with the purchase. Now with Ben Bernanke denying it, whose stating the truth? If you ask me their both crooks, their both liars. And because of their actions, the money we gave Merrill Lynch, about $20 billions we will never see. I think all three of these bone heads should face charges of some sort. Their not above the law, Congress should slam the door on them.

Only In The US!

The Senate race between Republican Norm Coleman and Democrat Al Franken ends the same way Democrat Al Franken wins the seat. Now the Minnesota’s highest court is ordering Republican Norm Coleman to pay Democrat Al Franken almost $95,000 to cover his court cost. This is because his appeal to the Minnesota Supreme Court remained the same, he lost the seat. I read he lost the race by a touch over 300 votes, which is very close. Come the next election I would bet that Republican Norm Coleman will win that Senate election.

Now here’s what bothers me the most. Between these to yahoo’s they have spend almost $50 millions to win this seat. Why in the world are they spending that much money for a job that pays just under $200,000 a year? The only thing I can think of is that they have everything else, but now they want the status of being called a Senator.

Presidential Pardon!

We seem to have a request for a presidential pardon. The request and push is being lead by Sen. John McCain. He’s pushing for the presidential pardon for Jack Johnson. Jack Johnson was the nation’s first black heavyweight boxing champion in the very early years of the 1900’s. Johnson was convicted of violating the Mann Act in 1913 for having a consensual relationship with a white woman. The Mann Act is still a law today, but has changed a lot over the years. The push for the pardon is going to be a up hill battle for McCain. Not because Johnson was wrongfully convicted, but because Johnson is dead. U.S Presidents don’t usually pardon people that are dead, but have done so in the past. So it’s going to be a wait and see what President Obama will do. I personally think Obama will do it, but so far there’s no word out of the White House.

Poor Choices!

The U.S. Government had made a really bad choice with passing this dumb 90 percent tax on bonuses. Now I’m just as mad has the next person at these crocks, AIG, Citigroup, Bank of America, Fannie Mae and a few others. And I don’t totally buy that these bonuses are for retaining highly skilled people. I say there a lot of skilled people out there that would gladly to the job without a bonus. What bothers me is that this new tax law, if signed into law could hurt the honest hard working employees that deserve their bonus. Here’s how this could hurt the honest people. The new law is based on total house hold income. So if someone working at AIG gets a $10,000 bonus for working really hard could lose 90 percent. This is how it will hurt this person, lets say this person makes $90,000 a year, then the bonus - $10,000 for a total income of $100,000. On their own this person would not receive any extra tax. Now add in their spouses income of $175,000 a year. Now the total income is over $250,000 a year, which now brings in the 90 percent tax on that bonus, that’s why I think it’s wrong. I don’t know if there’s a way to fix this, but it’s wrong to tax the total income. Taxing the crap out of good hard working people is wrong. If they want to tax someone they should tax only the top executives of the company, not the sales force or managers running the business. Maybe someone will get it right, hopefully soon.