Politics and Religion

Can somebody please explain WHY the Democrats
St. Croix 2255 reads
posted

put money in the Bailout for ACORN? Haven't we learned anything from the Community Reinvestment Act (CRA), and that housing is not some constitutional right. We are just going to go through this bullshit again in 10-15 years.

I have mentioned this before. If the Treasury does this right, assuming the Bailout is not littered  with partisan crap like Acorn, union proxies, and crap, the government could actually make money on this.

The Treasury buys loans in a reverse auction. The Treasury holds bonds to maturity or sells them in the open market if rising prices make the sale attractive. Assuming the Treasury buys some of the toxic mortgages @ $.20 on the dollar, they can hold them, and if market conditions improve, sell at a higher price to investment funds, private equity firms and the like. Hello Wilbur Ross. As the Treasury holds the loans, they get monthly cash flows from the mortgages. If someone is paying 5%, and the govt paid $.20 on the dollar for the mortgage, well you can see the effective interest is a bit higher than 5%.

A bailout will pass Sunday night before the Asian markets open. I assume the global markets will see a pop on Monday morning, and then sell off in the afternoon, and probably through October.

Liberals may hate WalMart, but that is as good as any place for your money for the time being. Oh yes, Liberals hate pharmaceuticals, so buy JNJ, another good bet. Oh yes, Liberals really hate tobacco companies, so buy Altria. Companies Liberals hate can provide a safe haven to all your constituents who hold a 401K, IRA, etc. What the fuck was I thinking, your constituents don't save like the ACORN members.

Always low-price Wal-Mart is also always low wage, low benefits and low ethics when it comes to its workers, here and abroad.

The company that insiders claim encouraged employees to seek taxpayer-funded health care for the poor is back in the news. This time the retail giant is accused of encouraging its store managers and department supervisors to vote Republican come November.

If those employees do so they'd be committing electoral hara-kiri. It is hard to fathom an act more inimical to their economic interests.

According to a report by the Wall Street Journal, Wal-Mart made it clear in mandatory meetings around the country that a Democratic victory would be a disaster for its anti-union business model.

The focus of the meetings was legislation known as the Employee Free Choice Act, which would allow employees to unionize without a formal union election if more than 50 percent sign certification cards. Sen. Barack Obama is a co-sponsor of the measure while Sen. John McCain opposes it — a fact that Wal-Mart drove home to its supervisors.

Of course, Wal-Mart is right about the Employee Free Choice Act making it easier for employees to unionize. The measure is designed short-circuit the campaign of intense antiunion intimidation and coercion that so many employers unleash in the months leading up to a union election.

It's particularly needed now because under the George Bush presidency lax enforcement of labor laws and essentially non-existent penalties have combined to embolden employers willing to use extralegal means to keep unions at bay. Today, reportedly one in four private sector employers fire at least one worker during union organizing — a clear warning to rest of the work force.

And Wal-Mart is a leading example of this. In 2000, the company famously closed down its butcher shop operations in 180 of its supercenter stores when one group of butchers in East Texas voted 7-3 to unionize. And the Supreme Court of Canada has just agreed to rule on the legality of Wal-Mart closing a store in Quebec in 2005. It was conveniently shuttered after workers brought in a union. The company said the store was unprofitable.

You can almost hear Wal-Mart officials sniggering "Go ahead, try again."

During Wal-Mart's political exhortations, the company was apparently scrupulous not to actually say "Vote Republican," but as one customer service supervisor told the Journal: "I am not a stupid person. They were telling me how to vote."

Here's what Wal-Mart's employees would buy with another Republican administration:

• A National Labor Relations Board that is deeply hostile to employee interests.

• Judges predisposed toward employers appointed to the federal bench.

• A Department of Labor that is preoccupied with investigating unions over employer violations of wage, hour and worker safety laws.

As Obama recently said: "It's time we had a president … who knows it's the Department of Labor, not the Department of Management."

And Wal-Mart workers can also expect the sidelining of important substantive legislation benefitting them.

Due to resistance by the president and Senate Republicans, Congress can't even get passed a bill to address blatant pay discrimination.

Thanks to an absurd ruling by the U.S. Supreme Court, if a woman doesn't file a complaint within six months of receiving her first discriminatory paycheck — even if she has no clue that male colleagues are being paid more — she's out of luck. Legislation to remedy this legal anomaly is being stymied by Republican opposition, including McCain.

You can see why the GOP and Wal-Mart management are simpatico. But the company's workers have sharply divergent interests. Even supervisors who can't unionize would undoubtedly receive a boost if a union helped negotiate higher wages and better benefits for the rank and file.

Wal-Mart is 46 years old, and by now its workers must know that they are not going to see good, raise-a-family and enjoy-a-secure-retirement wages through the company's good graces. It's going to take a union and an administration in Washington friendly to that prospect.

St. Croix2153 reads

so we can debate the merits, or lack of merits of WalMart. My question was about ACORN, and why the Democrats included funds for them. I haven't read the final bailout plan. I just hope that ACORN and other partisan crap that is usually attached to bills, and has no real bearing on the objective of the bill, were excluded.

My sidebar point of WMT, JNJ, and MO, is that they are good defensive stock plays for any investor (liberal or conservative) in these difficult times.

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