FINRA for example might have done some good for the public in some place under some circumstances but over time, as markets and opportunities change and human operators and politics change or dig in, everything and anything, best intentions included, can and will morph and eventually self regulation of any kind, will not work for the benefit of the citizen; it will become a protective layer for the special interest group.

Voters are our country’s ultimate natural self regulators and they are impotent and manipulated and oppressed. And anyone who has not read this piece yet, but thinks they already know just who is oppressing them, is a narrow minded partisan.

If Apple’s iPad becomes a household word, in the fashion of the iPhone rather than the Edsel, I expect the US OPEC to be revolutionarily and similarly recognized for it’s role in oppressing the average citizen with increased costs and by incrementally siphoning off the power of the people into this US OPEC.

This questionable monument to our progress has become and is likely to remain the largest special interest group and revenue generator, a ” business”  that does not produce anything any of us can wear, throw, drive or use in our daily lives to help us in our “pursuit of happiness.”

The US OPEC is a drag on all of our efforts to achieve happiness, No one is immune, Democrats, Republicans, conservatives, liberals, independents, un-declareds of any kind, even most US OPEC members themselves, as well as everyone else regardless of any choices or rejections of any religions, sexual orientations, colors of skins, height, weight, physically or emotionally handicapped or not, or ethnicity or IQ.

Most of us just can not see that this seemingly friendly uncle named US OPEC, is actually an abuser.

Our Fourth Estate, the media in all its modern aspects, figures as a special ingredient in the soup, as they seek to profit from their creative reporting on guilty targets. The groups to follow are indeed among the most profitable media products whose media value only increases to the extent legitimate opposing positions can be slickly leveraged with oppo-emotional-political spins by media celebrities, greased by other celebrity inputs to leverage fan appeal from movies, music, sports, academia, authors etc).

Well known guilty targets are corporate manufacturers and mining companies, oil companies, pharmaceutical companies, public and private banks and lenders of any kind, insurance companies of any kind, brokers of any kind - loans, real estate, stocks bonds, insurance and the political brokers usually called lobbyists,  and so on, and of course any political party with deserved or undeserved reputations for too much encouragement of government control and regulation to too little. All profitable fodder for the media and it’s informal umbrella brotherhood organization, the US OPEC.

Missing in the usual discussions of what oppresses the Citizen, is this huge and hitherto unnamed starwars like force that unarguably is in  need of and deserving of  a new and clever moniker. Just say yes, otherwise I have to change unarguably to arguably and lose the concensus required.

Above and below, with my best Steve Jobs imitation via a vastly limited presentation apparatus, and with what some might argue talent, you have already noticed that I have  “given you the US OPEC”. I expect it to soon rival the world stage with Eisenhower’s 1950s warnings about the vast Military Industrial Complex.

This shadowy force which is in our faces in such a ubiquitous fashion that we can not see it nor it’s informal organizational structure, yet it must be seen and respected for it’s dominance in our society.

This previously unnamed Omnibus Postgraduate Elite Complex, consists of all attorneys, legislators, judges, regulators, plus a double super majority of teachers, PhDs, university employees, media employees and celebrities, personal counselors and perhaps a majority of credential professionals such as Drs, Dentists and CPAs. Many workers and business who produce tangible products also subscribe, but below a majority. A wing of the US OPEC not as likely to have post graduate jobs but who subscribe en-masse are Union members, certain ethnic groups including the pc named undocumented workers, and nationalized citizens, and most welfare reciipients, subscribe en-masse. Need I say, most Democrats, liberals or progressives? The most obvious likely minority subscribers are owners of businesses and non-union workers, non-college bound youth and adults who work in offices, warehouses, plants, buildings etc. But many of them are easily seduced.

The only solution in sight to this ship with too many fishing on the same side, requires taking a page from the Chinese. When I hyp-channel Wen from Beijing, he advises the installation of the Chief Hypocrite as unrivaled head of a tight knit group of dictators who will streamline government control, continue to harness basic capitalism to produce enough goods and benefits to stay in power via a national control network that limits state and local rights. Sorry states, your pivotal role in the formation of this country that I love, has become part of the anachronistic mechanisms that need to be streamlined so voters can begin to have the power they deserve, based on the often over hyped but relevant high ideals, never completely or continuously achieved, of our Constitution. I plan to uphold my favorite, but not all, of the many noteworthy principals of the US Constitution.

This may be the only way for the US to find a way to remain near the top of the heap worldwide which unfortunately is our ultimate best defense against aggression that remains unabated in the history of man under any type of government including tribes, you name it, aggression is omnipresent and not just from the US; we have just had the biggest guns recently. So, since necessity being the mother of invention, creative and motivated types are perfecting methods for a very small nasty minority of zealots mostly of one large and sort of diverse religion, to frustrate the biggest military in history, tragically trapped in an attempt to be the peacemaker of the world.

Unfortunately, only one new savior can handle this job and it is not Scott Brown, my old facebook buddy before anyone knew him, much as I like him and his independent appeal. He would make a great number two for the needed sex appeal, well  spoken positions, name recognition, supportive and engaged family and I hope and believe, his fidelity to his wife; we do not need another John Edwards almost leading this country. No one can gently use great power without creating more enemies excepting only the total elimination of those enemies, which will  never happen in the case our enemies and for good reasons. There are too many of them after our near century long projection of power around the globe, starting with manifect destiny that encircled the American Indians and took the southwest away from a dictator who made the mistake of inviting in too many protestants to allof our declared and undeclared wars, our CIA and FBI operations and lastly our continuing to have military in the middle east perpetually in order to assure a free flow of oil for the BENEFIT of the ENTIRE WORLD. Millions would starve or freeze were a serious cut in oil supplies to happen. Green energy is a long way off, but trust me, I wish it were here now.

Our national, state, city and county penchants for continuing to over promise, programs and job benefits for votes is an obvious addiction worse than our addiction to oil. The last Bush and his Republicans did it during his reign, massively violating his professed conservatism. W and his boys were amateurishly playing a game of which their political opponents for decades held the undisputable title to, clearly being the masters of the universe at continuing holding tight to their not well traveled traveling trophy, representing unrivaled claims to compassion and support of the poor and every ethnic underclass imaginable. Bush’s opponents are adept at always politically and media wise and legislation wise effectively out positioning the meanies, who do not joyously support their unlimited largess.

His failed policies in a tough world gave power to his opponents to proudly and triumphantly, to begin building anew, a more and more state dependent state. And yes, they are doing what comes naturally, despite the realities of the tough world situation they inherited.

No one is minding the store, everyone is jockying for position and re-election, re-appointment, or lifelong tenure.

Me too. Just joking.

Joking aside now, appoint me.

Support these movements but make sure the Congressional deleterious conflicts of interest are not overlooked.

Among the untold thousands and thousands of warnings issued in and out of government, the one I chide myself for silently ignoring is the one about the repeal of the Glass Steagal Act. Folks in the Clinton administration supported and encouraged this Republican named bill supported by almost all Democrats. A bill everyone seemed to love.

Many members of the current Obama administration which like Michael Moore, claims to be all about the little guy, are some of them according to Rachel on MSNBC.

Banks had been advocating for eliminating Glass Steagall which prohibited the combination of investment bankers and insurance companies with consumer and commercial banking historical businesses. I see that as a logical thing for banks to push for after the US government knocked them out of the mortgage market.

The government, professing to want to “support” the mortgage market, created the Democratic darlings called Fannie Mae and Freddie Did as quasi governmental organizations, regulated essentially by Congress.

Fairly quickly they took over the most profitable slice of the mortgage market, repackaging and selling pools of mortgage, initially benefiting the consumer with lower rates indeed, but which turned banks into brokers who had to price and sell these GSEs all of their 30 year fixed rate mortgages in order to be competitive in consumer pricing.

Sort of a “public option” gone awry, to be imitated in similar fashion by the unexpected results of a public option in health care. Rachel, where are you?

My forecast of a public option disaster after proven correct will not feel any better than the effect of the repeal of the Glass Steagall Act. Unless I get unlucky, I will be alive to experience that disaster unlike Glass and Steagall and so will Rachel, but doubt she will ever interview me.

Of the many elements to this now perfected financial storm, the one most visible and surely single most visible responsible element, the banking sector does stand out; but only if you choose not to look at the real root cause, the 535 members of the legislature who work hard at confusing the issues so you do not, as they  prefer, look at them. Looking at them one at a time at the voting box has by now been gamed so badly, so profusely and so consistently that it does not fulfill it’s expectations. Please, console me, will anything short of revolution or the change of heart of those we elect return  a balance we all deserve but are deprived of by the now biggest industry in our country, politics.

The political catastrophe being played out in the guise of correcting the other guys greed is enough to make one believe in the healing power of the old soap opera shows, recycled as quasi reality shows. There are so many “shows” to watch with non existent judges that the hoi paloi I am a part of, are at the mercy of pure luck no matter what we co.

In the time frame of the mortgage mess, I mark as starting in the early 1990s, with incremental innovative steps taken by Wall Street and Bankers as business is supposed to do, gathering political steam, guidance and political mandates all the way. With Republicans joining forces behind the scenes with silent and still unaccountable opportunist Democrats trying help the poor for votes by getting them a loan, the die was cast by the very.

Democrats who are, were and still are as conflicted and complicit as any of the participating Republicans; the Republicans are noteworthy for their public relations ineptness for having garnered the vast majority of the blame while being, as a group, more like followers to the trough, seeing the opportunity to sup on the teat of big, special interest groups (SIGs), so organized that the great organizer of our time, Barack Obama would be proud.

Bush administration officials who advocated for increased regulations of Fannie Mae and Freddie Mac were defeated by the very teflon Democrats, Barny Frank, Chris Dodd, and the New York poster boy for hair transplant. You know who he is; who said television coverage of political hearings has not affected politics. Funny how Rachel has never done a show on that.

Similar story for HUD regulations proposed by Republican Mel Martinez who while at the helm of HUD which would have given significant power to shops rates and terms to the consumer over anyone, banker or broker. Democrats lead the kill charge and it was not hard to get Republican support.

Mind you, this was to kill a piece of regulation that would have tipped the scale toward mortgage borrowers, making it simple for the average American, including those who do not read well, to compare pricing; literally easier than comparison shopping at Wal-mart. Much easier.

When I read the proposals, I knew, like the great Byron Dorgon did, what it meant. In that case it meant it was so good for the consumer while actually reducing paperwork and other ineffective costly regulations, that it had no proverbial chance of getting approved. Funny how Rachel has never done a show on that.

Funny too, is that, after giving Byron Dorgon (D) much deserved credit for his 10 year warning Rachel did not ask Byron “What then did you do with this great knowledge? Did you then followup and apply knowledge for the benefit of our economy to the many non yet extant elements necessary to fulfill your profesy, such as legislation preventing any regulation of credit default swaps, regulations forcing banks to make loans to unqualified borrowers and not the last, doing the same to Fannie Mae and Freddie Did You.

Mr Glass and Mr Steagall probably do not relish this end. Not funny Rachel. Get your head out of your proverbial politics.

The Obama government, increasingly siding with his leftists friends around the world such as Hugo Chavez and the left controlled OAS as well as the UN general membership, has demanded the re-institution of the ousted President Zelaya, despite reports like this one from inside Honduras indicating Zelaya was constitutionally removed and had the support of most of the people against his Chavez and Morales like bids to be President for Life. Castro remains their hero and motivation. What ulterior motives is involved in destroying a working democracy in Central America? The workings of the old CIA in reverse?

The following was reposted in English from the Oct 13, 2009 edition of “La Voz Nueva, The Bilingual Voice of Colorado”

You can read the Spanish version here:

What’s happening in honduras? In June, the Supreme Court ordered the military to remove President Manuel Zelaya from the country for having violated various laws.

Wanting to find out more, I went to Tegucigalpa, the capital, in July and spent four days talking to dozens of Hondurans – businesspeople, waiters, musicians, taxi drivers, farmers, students and professors, a mariachi group looking for work, shop keepers and clerks – Hondurans of all classes, but mostly poor.

I wanted to talk to those who were against Zelaya as well as those who favored him.

I wanted to know why the military had removed him from the country. I wanted a mixture of opinions and points of view.

However, I found something very different and very surprising. All of the dozens of Hondurans with whom I spoke with (including many who said they had voted for Zelaya in 2005) were against him and in favor of his removal. It was a story totally different from what we have been reading in the press. What happened?

Zelaya was elected president in November 2005 as the candidate of the Liberal Party. His party also won a majority in the Congress and on the Supreme Court. Little by little, however, he began moving to the left in the style of Hugo Chávez of Venezuela.

For example, last spring he announced, with only one day of warning, an increase in the minimum wage of more than 60 percent. In an economy as weak as that of honduras, this was a disaster. Companies couldn’t pay this new minimum salary and the result was thousands of people being laid off.

Then he tried to initiate a referendum that would allow him to run for President again. The Constitution of Honduras prohibits this because Hondurans do not want another commander.The Congress said “no” to his request. The Supreme Court said “no.” Then Zelaya ordered the head of the military to simply distribute the ballots. He said “no” and Zelaya fired him. Finally, Zelaya, using his supporters, tried to distribute the ballots himself. That was when the Supreme Court ordered the military to take him in custody and remove him from the country.

That was a very tense period. The Court feared an eruption of violence if it had Zelaya detained within the country.

After his removal, Congress named a provisional president, Roberto Micheletti, until January 2010 when the new president, who will be elected in late November, takes over the Presidency. He is not a candidate for president and cannot serve beyond January.

Many of the people I spoke with said that they had voted for Zelaya back in 2005, but that he, as president, had changed and had fallen under the influence of Chávez. For example, a student named Alberto, “Beto,” said, “ Honduras is a key piece for Chávez.” That was a constant theme. Hondurans don’t want Chávez interfering in their country or the feeling that Zelaya was nothing more than a puppet for the ambitions of the Venezuelan.

Beto continued, “A president can’t get elected and then do whatever he wants.”

A taxi driver said, “Our country is peaceful now. We don’t want Zelaya to return.”

“The last year has been crazy,” said Nicole, a woman who runs a small business. She voted for Zelaya in 2005, but is now protesting against him.

What happens now? Zelaya has returned secretly and is in the Brazilian Embassy. He has abandoned the negotiations that were being run by the President of Costa Rica, Oscar Arias. The country is in chaos. As Edi, the director of a school for abandoned children said to me in an e-mail on Sept. 22, “The whole country is paralyzed. Nobody can be in the streets. No traffic, no business, nothing is possible.”The provisional government of Micheletti wants a solution. Honduras is one of the poorest countries in Latin America. They need continued international support. But we have to keep in mind that this was not a “military coup,” that Zelaya was repeatedly violating the laws of his country, and that he is now stirring up a very dangerous situation.

Possibly it would have been better, in a diplomatic sense, to have detained him in Honduras back in June rather than removing him from the country, but the Court was correct, in my opinion, in thinking that there was the possibility of much violence. For that reason, it was prudent to remove him from the country.

Our State Department was pushing for his return, saying that his removal was illegal. I disagree. But today’s problem is – how to bring about an atmosphere of calm between now and the November elections? And how can we guarantee that the person winning the elections will be able to “ take the reins” in a legitimate sense?

Honduras is a small country, a very poor country, but a proud one because Hondurans have stood up to a president who was violating the laws.

Morgan Smith served in the Colorado House of Representatives, as Commissioner of Agriculture for Colorado and as Director of the Colorado International Trade Office.

Buffet said “Technology can not fix everything” and we need to be aware of that. Also, that we Americans are winners of the womb lottery. We did nothing to deserve being born here rather than so many other places in the world where we might live in poverty.

He showed some of his recently published photography book entitled “Fragile - The Human  Condition”,  documenting the circumstances many live in outside of the US around the rest of the world. Some of them were depressing and some were joyful and colorful. All of them shown by Rose were compelling.

He said his mother was his best friend because she gave him everything “except maybe good looks”, including the admonition  to be forthright and to consider others.

Rose showed a 2004 video of her talking about her own spirit and how she loves what she does in their foundation and how she respects those who have made a choice to serve others.

What did Warren Buffet contribute to Howard? Impromptu sayings, that sink in later, like “it takes twenty years to build a good reputation and 5 minutes to destroy it”; little bits of advice taken to heart, that caused him to live his life differently and better than he might have.

Howard Buffet said he was so lucky just to be able to observe his father in action, interacting with others, doing business and giving advice to business partners.

Howard says he is a Republican like his grandfather was but very much unlike his Democrat father about which he grinned and said it caused him some problems at home.

Charlie asked Howard what he can give back to his father, when the time comes and Buffet replied his father can trust him; he will carry on as his father, the legendary Warren Buffet would like him to do. He joked that his father is in great shape and very active and could outlive his son.

Howard Buffet wants his legacy to be that he took his photography and the family foundation to the next step, although he said he does not yet know what that is. Regardless, he said it will not be a game changer but does want to find a way to better impact policy in the US.

Everybody wants to be a lobbyist.

Sam Adams was one of his guests. The other was Karen Brown G……(I missed her last name, can anybody tell me what it was?) said the line is crossed when someone who was made fun of is personally offended by any satire. Especially when those offended, even as public persons, individually protest, saying the satire has crossed the line and offended them. Legally blind New York Governor Patterson said that about the skit this year on SNL.

To no ones outrage, Zinnia said the video of that SNL show which was posted on youtube had been pulled and was no longer available.

About the personal offense as the metric to define when satire crosses a line, a surprised Zinnia said to Karen, “come on, someone is offended by everything”, to which Karen definitively replied……”well”……..

It frankly did not seem like she would allow such a consideration as that for white heterosexual old men. She also suggested in a non-sequitor that the flag should not be burned. Interesting lady. Wish Zinnia had asked her about her reception of somebody like Bush protesting and being offended by being called the many names he was and is called.

Zinnia replayed a 2009 Presidential roast when the comedian made fun of Rush Limbaugh and he asked if the line was crossed when the comedian said she hoped Limbaugh would destroy his liver with drugs and die, all to much laughter by the entire audience and head table where Obama sat.

All three on the “Tough Love” show laughed out loud at that, but no one answered that seemingly rhetorical question about Limbaughs theoretical protest. Were I to foolishly point out the racial criteria involved in this situation and their choices, without even calling it a racist  action on their part, I could of course expect a chorus of charges of racism on my part.

The industry of race baiting by charging racism in such a legally discriminating way, is a despicable act, highly detrimental to our entire country, but it is a highly profitable activity.

Bring it on, everybody should make fun of everybody without regard to anything, according to Sam Adams, award winning journalist in 2003 and 2009 award winning comedian.

Laughs were relived by all three when discussing the Eddie Murphy Saturday Night Live skits making fun of Stevie Wonder, a very popular modern American blind musician.

When asked by Zinnia why his guest, Sam Adams, does not look like the Sam Adams on the beer bottle, Sam replied that the one on the bottle is Sam Adams lite, smiling and indicating he is the Real Sam Adams.

Sam is a funny guy, check him out here if you missed his link above.

He is on facebook as you can imagine so consider friending him here.

What the MSM misses out on.

So many things would be different had the following story not been part of world history. Few try to imagine the fate of the several billions in the world today; would you be better off were the outcome different or the challenge not addressed as it was? The seminal reality show of history referred to below and lived by so many variously around the world, and lead by Americans and ironically Russians, has been ideologically relegated to “The Spam box of History” and replaced with “Blame America First and Only.” As the resultant American hegemony is ceded as the drumbeat insists, imagine how foreign capitals and non state powers will treat the little guy around the world. Could make Michael Moore seem honest and truthful by comparison.

Reposted from “The Spam Box of History.” Sure hope it does not crowd out more important issues.

We’re hearing a lot today about big splashy memorial services..

I want a nationwide memorial service for Darrell “Shifty” Powers.

Shifty volunteered for the airborne in WWII and served with Easy

Company of the 506th Parachute Infantry Regiment, part of the 101st

Airborne Infantry.

If you’ve seen Band of Brothers on HBO or the

History Channel , you know Shifty. His character appears in all 10

episodes, and Shifty himself is interviewed in several of them.

I met Shifty in the Philadelphia airport several years ago. I didn’t

know who he was at the time. I just saw an elderly gentleman having

trouble reading his ticket. I offered to help, assured him that he was

at the right gate, and noticed the “Screaming Eagle,” the symbol of

the 101st Airborne, on his hat.

Making conversation, I asked him if he’d been in the 101st Airborne

or if his son was serving. He said quietly that he had been in the

101st. I thanked him for his service, then asked him when he served,

and how many jumps he made.

Quietly and humbly, he said “Well, I guess I signed up in 1941 or so,

and was in until sometime in 1945 …. . . ” at which point my heart

skipped.

At that point, again, very humbly, he said “I made the 5 training

jumps at Toccoa, and then jumped into Normandy .. . . . do you know

where Normandy is?” At this point my heart stopped.

I told him “yes, I know exactly where Normandy is, and I know what

D-Day was.” At that point he said “I also made a second jump into

Holland , into Arnhem ..” I was standing with a genuine war hero . . . ..

and then I realized that it was June, just after the anniversary of

D-Day..

I asked Shifty if he was on his way back from France , and he said

“Yes. And it’s real sad because, these days, so few of the guys are

left, and those that are, lots of them can’t make the trip.” My heart

was in my throat and I didn’t know what to say.

I helped Shifty get onto the plane and then realized he was back in

Coach while I was in First Class. I sent the flight attendant back to

get him and said that I wanted to switch seats. When Shifty came

forward, I got up out of the seat and told him I wanted him to have

it, that I’d take his in coach.

He said “No, son, you enjoy that seat. Just knowing that there are

still some who remember what we did and who still care is enough to

make an old man very happy.” His eyes were filling up as he said it.

And mine are brimming up now as I write this.

Shifty died on June 17, 2009 after fighting cancer.

There was no parade.

No big event in Staples Center .

No wall to wall back to back 24×7 news coverage.

No weeping fans on television.

And that’s not right.

Let’s give Shifty his own Memorial Service, online, in our own quiet

way. Please forward this email to everyone you know. Especially to the

veterans.

Rest in peace, Shifty.

Chuck Yeager, Maj Gen. [ret.]

*
Have you ever wondered what it would be like today, if the English language and the dollar were not at the top of the heap for the last 60 years?

For sure, there would have been no splashy, extended and permanent adoration of Michael Jackson, for “he” would never have existed.

Not surprisingly, only those very close to Bush, such as his wife, and Secretary of State Condolezza Rice are getting much visibility declaring that his presidency was not a failure.

It’s a sign of how far he has to go that the question is not how powerful is his legacy, rather how much did he fail.

Condi (we are close personal friends, aren’t you make the indisputable case that how he will be judged will be in the fullness of time, rather than with emotional, perhaps even biased views today. The same has happened with other presidents, Nixon (who enjoyed some partial rehab), Bill Clinton (who remains popular despite a number of items including most recently perhaps helping to lose the 2008 election of his wife). Harry Truman comes to mind.

One of the most interesting rehabilitations happened with Lincoln’s Gettysburg Address. He was not the featured speaker that day, and reportedly he was almost not invited to speak in the planning for the consecration of that famous Civil War Battlefield because planners feared his reputation as a speaker who droned on and on and was not very interesting.

Then when he finished his short address to a nearly silent crowd, he was dejected by that response. I wonder what would he, or his audience would think today, as that speech has been elevated to one of the memorable addresses in US history.

This is not to say that every Bushism will make it into Miriam Websters anytime soon, although it might not be wise to bet against one or two of them actually achieving that status some day, after all it ain’t impossible.

And that is the point. And my only point worth remembering despite the upcoming “change” I welcome.

Following are changes it proposed: Comments in parenthesis are mine.

1)Debt Load Reduction (bond holders would have to write off approximately 400 million of their 600 million in prior loans made to Detroit. They would receive stock only in exchange for their losses. If the stock doubles they would still most likely have net losses from their original loans and unpaid interest.)

2)Wage Cost and Work Rule Competitiveness (foreign car makers in the US make more cars with 240,000 workers than the UAW creates with 340,000 members whose work rules defy productivity. UAW members receive far more than the workers of foreign car makers in total compensation from benefits and wages)

3) Changes to VEBA Payments (Half of the cash commitment Detroit has to the VEBA would be paid in stock. If the stock doubles, the VEBA would probably be ahead)

4)Elimination of Jobs Bank and Supplemental Unemployment Benefits (These are arguably the result of “mistakes Detroit management made 20 years ago” which Carl Levin as a captive of the UAW failed to recognize at the time and which he refuses to give voice to now, willing only to say the mistake was not to increase fuel efficientcy “among others”.  Utter political hypocrisy.)

Begin Corker Summary:

First, the legislation would require that participating companies reduce their outstanding unsecured debt obligations by at least 2/3rds by forcing bondholders to accept an equity swap or debt for debt and equity swap. At current levels, the companies have unsustainable debt loads and cannot have long-term viability without significant reductions. Government money would be wasted if it were to come in on top of existing debt holders with no reductions on outstanding debt.

Second, in an effort to make these companies more competitive with foreign automakers that operate in the United States, the legislation requires that the “all-in” labor costs and work rules of the Detroit 3 be immediately brought on par with companies like Nissan, Toyota and Honda as certified by the Secretary of Labor.

Three, the legislation would require that changes in payments to the UAW VEBA accounts occur to help the liquidity and cash-flow of the automakers. Specifically, it would require that at least half of any scheduled payment be made in stock.

Four, any compensation (outside of customary severance pay) that occurs for workers who have been fired, laid off, furloughed, or idled is immediately terminated. This will allow the companies to accurately size their workforce and not continue to be saddled with the labor costs associated with programs like the JOBs Bank and other arrangements that force continued pay–even when no work is going on.

Funding will immediately go out to companies but they must achieve a reduction in debt load by March 15, 2009 and then additional funding for UAW agreements in place by no later than March 31, 2009.

Failure to adhere to any one of these conditions by any such date will result in the requirement that the company file bankruptcy under Chapter 11. (End Corker summary)

This seems reminiscent of the refusal of Arafat to accept the Israeli offer of a peace settlement during the Clinton administraton. Instead he decided to start the “intifada” because it was better for the Palestinian people. While that was not true then or now, his choice certainly preserved his corrupt rule.