An article headed “Bernanke Had to ‘Hold My Nose’ Over Bailouts” reports that Federal Reserve Chairman Ben Bernanke responded to questions from members of an audience as follows:

“I was not going to be the Federal Reserve chairman who presided over the second Great Depression…I had to hold my nose. … I’m as disgusted as you are. … I absolutely understand your frustration.”

It continues:  “Asked about President Obama’s $787 billion stimulus package of tax cuts and increased government spending, Bernanke said most of the money will flow in 2010 so ‘it might be a little bit early’ to judge its effectiveness.”

WATCHDOG: A wag of the tail.

An editorial “Money clipped”, starts out “Several of the major banks that received government bailouts are now seeking to repay the money.  While this is good – it indicates that economic problems may be easing – it also demonstrated the greed that helped trigger the crisis is also still with us.”

WATCHDOG:

“Greed?” This suggests a lack of knowledge of how the capitalistic system works and the powers of a republic to encourage a more even distribution of wealth.

Profits is what drives capitalism.  So long as it is legal, it is a fools game to try to figure out what earnings are excessive and what are not.  Rather, we have the mechanism of progressive taxation and inheritance tax to assure that those most fortunate have to share their wealth.

Raise the income tax rate on amounts earned over $500,000 a year, further over a million dollars a year, and still more over $5,000,000 a year, the last perhaps being at the 45% level.  Simplify the tax code to avoid legal avoidance of paying the intended amount.  Reconstitute inheritance taxes on amounts over $5,000,000.  (Bequests go to those who have done little more than win the birth lottery, and whose youthful impetuousness and inexperience  may at times endanger society.)

Concerning the distribution of profits, if retained by Goldman Sachs they may be invested.  When distributed in bonuses, the funds will be taxed and most likely used either for consumption or investment, both of which creates jobs.  There is no reason to think that Goldman Sachs possessing the money is more desirable for the economy than the funds being distributed to its employees.

The only legitimate concern is if an entity “too large to fail” pays dividends and bonuses to an extent that endangers its ability to continue without a government bail out.   It doesn’t appear that anyone is suggesting this is a worry with Goldman Sachs.

Time may ease racial tensions

Our seated President was WRONG to comment at all on the Cambridge situation until he knew all the fact and, at that time, remain neutral and let the powers that be handle the situation.

Whether a police person is well trained or not, they have elected to have a career in law enforcement.  They have to abide by the Constitution as we all do and their job is to police, provide protection, whatever their job description is.

However in our world today where we have more and more single parent families and more and more no family atmosphere, young adults are growing up to not respect as we in our 50 and 60’s were taught to do, even if we had a racial slant.  High density living as well as economic conditions are all factors in creating high crime rates that in turns makes the profession of law enforcement a tough career.

Personally I feel that when a police person, white approaches a black person for a possible violation, appearance comes into play, sad but true.  Maybe 10, 20 30 years from now when the younger generation becomes adults this will not be the case.

I believe the office was doing his job and the homeowner was ungrateful.  The mistake was that the charges should not have been dropped.  The officer, a sergeant, backed off probably under pressure OR was in the wrong.  Will we ever really know?

In a recent editorial, your dog said in part, “But police also have the right to protect themselves from undue verbal abuse. ”

If you speaking from a manners point of view, you are correct.  BUT according to the Constitution ie… law of the land, you are ABSOLUTELY incorrect!  Cops are to be professionals and be able to HANDLE verbal abuse – if they can’t – they should get OUT OF THE KITCHEN.  The man in question was obviously frustrated after traveling and now having to break into his own house.  The cop, while understandable came to question, should have been more understanding once he came to realize what was going on.

Here is case law to document as well as a recent newspaper article which says it’s legal to flip off a cop!

http://tinyurl.com/2vft2l

Check out this case law quotes:

Although the preservation of liberty depends in part upon the maintenance of social order, the First Amendment requires that officers and municipalities respond with restraint in the face of verbal challenges to police action, since a certain amount of expressive disorder is inevitable in a society committed to individual freedom and must be protected if that freedom would survive. Pp. 471-472.

“a properly trained officer may reasonably be expected to ‘exercise a higher degree of restraint’ than the average citizen, and thus be less likely to respond belligerently to ‘fighting words.’”

The freedom of individuals verbally to oppose or challenge police action without thereby risking arrest is one of the principal characteristics by which we distinguish a free nation from a police state.

An editorial “Passing our judgment” asks “If [former State Senator] Mr. Fumo had not been a white power broker, but an African-American or Latino convicted of selling crack, would Judge Buckwalter have cut him similar slack? We doubt it.”

WATCHDOG: A more revealing question is “If Mr. Fumo had not been a white power broker, but an African-American or Latino convicted of similar crimes, would Judge Buckwalter have cut him similar slack”" We doubt that too.

In Editor Marv Adams column “A prayer ‘to no one,’” he quotes Rev. Gerry Stoltzfoos in justifying evoking the name of Jesus at the end of payer before the Pennsylvania House of Representatives as follows: “‘I just wanted to pray to Jesus,’ he said. ‘A prayer addressed to no one is like a letter addressed to no one.’”

WATCHDOG: How are members of the House able to join in the prayer if they don’t know until the end to whom it is addressed? Normal practice in public and also in interdenominational settings is to address God, Lord or perhaps the Almighty.

Gil Smart in his weekly video rant asks whether it is okay if a cop asks a white guy to show him an ID if neighbors saw him and another forcing open a front door.

WATCHDOG: The answer is “yes.” Most whites would think nothing of it, let alone throw a fit. Of course some who don’t like cops might take umbrage.

We can appreciate residual resentment of African Americans for the police treating them in a degrading manner. But police also have the right to protect themselves from undue verbal abuse.

We show respect to the uniform, even if we don’t like the individual. Complaints can be made in a deferential manner or addressed at a later date with the police person’s superiors.

President Barrack Obama suggested that this was as much an issue of class as race. Some would say Gates can be a pedantic, snobbish, bullying, egregious ass. Just ask Larry Summers.

Incidentally to Gil, when used as the subject rather than an object, it’s “he” and not “him.”

The headline was “Barnstormers manager Von Nayes announces resignation.” The publication date and time was “July 24, 2009, 2:11 PM EST.”

WATCHDOG: Note the story was posted in the early afternoon.  This was the proper use of LancasterOnLine.com’s web site.

Either the public will rely on www.LancasterOnLine.com to provide up to date news, or they will turn elsewhere.  NewsLanc.com often reports important local news eighteen hours before the morning Intell edition.

The backwards publishers of the Lancaster Newspapers need to understand that their web site no longer can be a supplement to their printed edition.  For the enterprise to survive the rapid changes in viewer practices, especially the younger generations, the web site must become a full partner.

In “The News About the Internet,” Michael Massing reports

“In an online chat with readers earlier this year, New York Times executive editor Bill Keller deplored the ‘diminishing supply of quality journalism’ at a time of ‘growing demand.’ By quality journalism, he said, he meant ‘the kind ‘that involves experienced reporters going places, bearing witness, digging into records, developing sources, checking and double-checking, back by editors who try to enforce high standards.’”

Later Massing states:

“The practice of journalism, far from being leeched by the Web, is being reinvented there, with a variety of fascinating experiments in the gathering, presentation, and delivery of news. And unless the editors and executives at our top papers begin to take note, they will hasten their own demise.”

WATCHDOG: Two wags of the tail! What applies nationwide also applies locally. Since the Lancaster Newspapers, for various reasons, will not conduct investigations, NewsLanc’s staff, with the help of its many volunteer contributors, must try to fill some of the void. The convention center series is demonstrating the way. It is possibly the most thorough investigation ever conducted by Lancaster media.

Normally, I refrain from speaking on national issues, as others do it much better. But as a mixed-race (black/white) person with a university degree in African-American Studies, and a writer who has written about and spent a lifetime thinking about race relations, I feel compelled to comment on the recent arrest and media hoopla over Harvard University Professor, Henry Louis Gates, Jr. What spurred this comment was specifically President Obama’s characterization of the arrest as “stupid.”

Like Mr. Obama, I was not there at the time of the incident. Unlike Obama, I am not a friend of Gates. But there are some important facts that have to be considered. One is that there was a break-in at the residence within recent weeks. Two, Dr. Gates, who was not a longtime resident of the neighborhood, and his driver were observed trying to force open the front door. Three, a neighbor, seeing what she thought was a break-in, called the cops to report it. Four, when the cops arrived, Professor Gates, instead of cooperating with basic questions, upbraided the cop inside and outside his home to the extent the officer felt impelled to arrest him.

“Why, because I’m a black man in America?” Gates allegedly said to the Cambridge, Mass. cop, Sgt. James Crowley, who responded to the call, when Crowley asked to see Gates’ identification.

Apart from the fortunate fact that Gates lives in a neighborhood with extremely prompt police response time, his accusation (and President Obama’s echo) that the cop was naturally in the wrong seems to be playing the joker as the race card.

Instead of cooperating with Officer Crowley, an instructor in a police academy racial profiling course, and a guy who seems like a good person, Professor Gates reacted with extreme belligerence.

“Why, because I’m a black man in America?”

No, Professor, because you were a criminally disorderly a*#hole in America, even if you do work for Harvard and are a friend of the President.

That’s what I think.