Ireland:Recording of Garret Fitzgerald and Karl Whelan Newstalk Debate

Former Taoiseach Garret Fitzgerald and Professor Karl Whelan of UCD discuss Dr Fitzgerald’s criticism of a letter signed by 46 Economists in The Irish Times about NAMA.

NAMA: Garret Fitzgerald admits lack of competence

In an Irish Times article on Saturday Garret Fitzgerald made the case for what he termed responsible opposition on the issue of NAMA. Again today on RTE Radio’s Morning Ireland he sang a similar tune.

Both FG and Labour have serious misgivings in relation to NAMA-and rightly so. As opposition parties it is their solemn duty to point out the glaring inadequacies. Failure to do so would be highly irresponsible. In the Irish Times article he stated that "I have hitherto avoided any comment on the relative merits of NAMA vis-à-vis other possible approaches because I have not felt competent to comment on the finer points of what is a highly technical issue".

Quite frankly this is an amazing admission. Yet this morning Garret strongly criticized the 46 economists who expressed serious misgivings about NAMA. He is referring to such learned academics as Prof Brian Lucey, School of Business, Trinity College Dublin, Prof Karl Whelan, Department of Economics, University College Dublin, Dr Constantin Gurdgiev, lecturer in finance, School of Business, Trinity College Dublin,Dr Moore McDowell, senior lecturer in economics, Department of Economics, UCD amongst others. With a few dismissive comments Fitzgerald rubbished them. Garret with his admitted lack of competence knows more than all of them put together. His arrogance was breathtaking. Garret appears to want a quick fix and to hell with the long-term consequences. Now is the time to point out the glaring weaknesses in the government proposals.

Amongst the questions posed by Brian Lucey are the following:

• What evidence does NAMA have that the current market price of property, land etc is not in fact the correct price to pay?


• What evidence does NAMA have that the current market price of these is not in fact going to decline for a number of years, as would be the case if Ireland were to follow the common experience of previous property crashes?


• Why would a temporary nationalisation of the banks be a bad thing, given that this would provide the taxpayer with a valuable asset which could be sold in future years?


• Why does no independent analyst support the governments view on NAMA? This includes the Swedish finance minister who ran their bad bank system, who said to the Irish Times that he “favours the more severe mark-to-market write-down of assets rather than a ‘through the cycle’ valuation.”, and that “it (NAMA) does not sound like the right solution to buy assets from private banks.” It also includes the IMF who said " Insolvent institutions (with insufficient cash flows) should be closed, merged, or temporarily placed in public ownership until private sector solutions can be developed ... there have been numerous instances (for example, Japan, Sweden and the United States),


• where a period of public ownership has been used to cleanse balance sheets and pave the way to sales back to the private sector", in the context of saying that the likely losses for Irish banks were such as to render them insolvent.


• Why not force the equity and bond holders in Irish banks to take the first place in the queue to absorb the losses that the banks would have to book were current market prices to be paid for the loans made. After all, that’s what risk capital is for?


• If the state overpays for the loans relative to current market prices, what, apart from a functioning banking system, does the taxpayer gain?


• What percentage of book value of the loans should NAMA pay, given that current market prices for land and development properties are somewhere around 30% or less of book value?


• If NAMA were to pay say €60b for loans that are worth only €30b, how can this transfer of a full years tax revenue to private speculators be justified in this economic time?


• If, as is entirely possible, the loans transferred to NAMA do not provide sufficient income to meet the coupon payments of the bonds issues by NAMA, will the taxpayer, at least in the short term, not have to meet these payments?
  

It is particularly noticeable that Fitzgerald has failed to address these questions. Instead he has played the man and not the ball.In addition he has failed to address FG or Labour criticisms in any meaningful way. The FG proposals stand up to scrutiny. They may not be perfect but certainly protect the taxpayer to the maximum possible extent.If as appears likely the FG proposals do not find favour in the Dail, NAMA will in all probability go through in some shape or form. It must be radically changed if this generation of taxpayers is not to be paupered. Brian Lenihan must take on board the criticisms of the 46 leading economists and those of FG and Labour.
As far as Garret Fitzgerald is concerned Ireland can marry NAMA in haste and repent at leisure.

Video: Iranian Student asks for help for Iran from the International Community (especially the EU and US)

In this video (June 23, 2009) an Iranian student protester in Tehran makes a passionate plea for help from the world community-especially the EU and the US- in a phone call to CNN's American Morning. He also outlines clearly the demands of the protesters for a more open society and good relations between Iran and the international community.

Video: Sean Hannity's complete interview with Gov. Sarah Palin on government growth and spending (8/6/09)

Dublin: Patricia McKenna ditches the Green Party to run as an Independent in Euro Elections -huge split opens up

Patricia McKenna has confirmed, in an interview with Hot Press, that she’s quitting the Green party to stand as an independent Euro candidate.

The decision of Patricia McKenna to leave the Green Party was inevitable. Since the vote to enter government with FF in 2007, there has been a sizeable rump- within the party- which has been uneasy as Green ministers jettison more and more core beliefs. In essence the realos within the party have outmaneuvered the fundis. It is an open secret that some in the leadership wished to push McKenna out of the party. This is borne out by today's reaction of Senator Deirdre De Burca party candidate for the Euro elections in Dublin. She said:

“The pity about Patricia McKenna’s move is that she did not do it at least a year ago and spare herself and her party colleagues a lot of time-wasting and strife,” the Senator said. “In my view she is addicted to the politics of opposition and appears reluctant to move beyond that comfort zone,” she said. “In my view she is addicted to the politics of opposition and appears reluctant to move beyond that comfort zone,” she said. “The Green Party is committed to the constructive politics of engagement and bringing about real change from within.”

McKenna is a conviction politician who believes that core principles must be preserved at all costs. Whilst many of her policy positions are too extreme she is a politician of the highest integrity. A series of party u-turns have become too much for her. The party has u-turned on incineration, the use of Shannon Airport by the US military, GM feed, social housing and the Shell to Sea dispute.

I feel embarrassed about being a member of the Green Party," McKenna told Hot Press, "because of what we said in the past and the promises we made, which we failed to deliver on. I just knew that I couldn’t run under a Green Party ticket and pretend that everything was alright because I’d be lying."
Asked by Hot Press if she believes the Greens have sold out, she answers unequivocally: "I do”.

The Green Party has already lost Dublin City councillor Bronwen Maher and Cllr Chris O'Leary in Cork-both of whom have resigned.Increasingly its organization has begun to crumble.

McKenna is a formidable candidate with a strong record. She made political history in the 1994 European Elections when she topped the poll in Dublin and became Irelands first Green MEP. She spent ten years as an MEP.
She narrowly lost her seat in the Euro 2004 election. She is a strong media performer and will certainly damage the very slight prospects of Senator Deirdre De Burca. Indeed she may outpoll De Burca. This would be the ultimate humiliation for the Green Party. It is not beyond the bounds of possibility that she may yet lead a new party.

Video: McCain interview snub to Palin on Jay Leno diminishes his influence in GOP

John McCain's standing-amongst many grassroots Republicans-has plummeted in the wake of his calculated insult to Sarah Palin. He has angered many in the base. Indeed many conservatives who voted for him will now feel cheated. He may fancy himself as a kingmaker for 2012. But in reality he is finished. His snub to Palin was a cheap shot and leaves McCain diminished. He sought to ingratiate himself with his liberal audience by slurring Sarah Palin. He has now joined the liberal wolf pack in the pursuit of Palin. Shame on him.

Video:The BBC's Andrew Marr interviews the Russian President Dmitry Medvedev ahead of the G20 summit in London-29/3/09

Only one in eight Russians may believe he is in charge but President Dmitry Medvedev presides over a nuclear arsenal and one of the biggest reserves of natural fuel in the world, and he is increasingly media-savvy as the BBC's Andrew Marr found out.

The crunch of snow underfoot, a brisk cold wind blowing through the birch forests and, at last, a single black official car sweeping up the drive.

President Dmitry Medvedev is reckoned by most Russians polled to be much less important than his mentor Vladimir Putin - the former president and currently prime minister.

But when he arrives, he feels important - the leather-jacketed security men snapping into activity. At this official dacha outside Moscow, the mood is suddenly urgent.

It is a curious situation. I am greeting him at his own official residence, a gothic Germanic castle dating from the 1880s.


Russia says it is working on plans as well for a new European security treaty
Once, the Czar came here.

Now it is in the middle of an area colonised by super-rich Russians - the road junction has a "Luxury Village" sign and adverts on the road here are all for Rolex, Gucci and condos in the US.

But here, Barvikha, is where President Medvedev receives foreign visitors. He has not done extended interviews like this before - we are very privileged.

He bounds out, smiling, and thrusts a buff coloured folder at me. My FSB file?

No - phew! - just the Wikipedia file on another Marr, this one a philologist from the Stalin era, who tried to apply the principles of class struggle to the development of language..........Continue at BBC

Video shows Newborn California Octuplets with mother Nadya Suleman who defends her position

Sarah Palin answers the liberal media in an interview for the forthcoming documentary "Media Malpractice"

In an interview for the forthcoming documentary "Media Malpractice" Governor Sarah Palin, for the first time at length, takes on the media coverage of her and the 2008 campaign. There is plenty more of the interview to come. To find out more got to www.HowObamaGotElected.com and get on the mailing list.

Israeli Foreign Minister Tzipi Livni and media sharply critical of Al Jazeera

YNet reports that

Foreign Minister Tzipi Livni gave an interview Monday (29/12/08) to Arab television network al-Jazeera in which she harshly criticized Hamas, saying the organization was to blame for the civilian casualties in Gaza...

However she also lambasted Al Jazeera:

[She] sarcastically noted during the interview that "when you show one-sided images from Gaza you're not helping peace. I understand that pictures which create provocation lead to anger and hostility among the citizens, but we want a better future for this region"

Al Jazeera and PressTV have been showing wall to wall coverage of the Israeli invasion from an Arab perspective. These channels are available internationally. This has angered many Israelis. I am not aware of any Israeli TV channels which perform the same function.
YNet also carries an article by Dr. Mordechai Kedar who is a lecturer at Bar-Ilan University’s department of Arabic. In it he calls for the closure of Al Jazeeras offices:

........What matters is that this is not a media channel, but rather, a jihadist terrorist channel that aims to eliminate the State of Israel. It is for good reason that Osama Bin Laden hands over his audiotapes to this channel, which cooperates with him fully.
Israeli citizens are paying with their blood for the media freedom enjoyed by al-Jazeera.
There is only one conclusion here: We must immediately shut down al-Jazeera’s Israel offices and prevent its employees from working for it. Once Israel does it, many other countries will follow suit, particularly in the Middle East, for their own reasons. They are waiting for Israel to put an end to the recklessness of this non-media channel....

Shock Audio-Obama promises to bankrupt coal industry(San Francisco Gate Interview January 17 2008)

As this shock audio (San Francisco Gate Interview January 17 2008) points out, Barack Obama promises to bankrupt the coal industry in coal states such as Virginia , Ohio, Pennsylvania, Colorado, Indiana . This will have devastating consequences for their economies. Obama is clearly out of touch with economic reality.

"Let me sort of describe my overall policy.
What I've said is that we would put a cap and trade system in place that is as aggressive, if not more aggressive, than anybody else's out there.
I was the first to call for a 100% auction on the cap and trade system, which means that every unit of carbon or greenhouse gases emitted would be charged to the polluter. That will create a market in which whatever technologies are out there that are being presented, whatever power plants that are being built, that they would have to meet the rigors of that market and the ratcheted down caps that are being placed, imposed every year.
So if somebody wants to build a coal-powered plant, they can; it's just that it will bankrupt them because they're going to be charged a huge sum for all that greenhouse gas that's being emitted."

Video:WFTV's Barbara West belittled By Brash Biden

In this interview Joe Biden comes across as condescending and bad mannered. The interviewer Barbara West asked topical questions aimed at eliciting information. She questioned Joe Biden about Acorn attempts to register phoney voters. She also referred to Obama's links to Acorn.

The next question concerned redistribution of wealth. After all Obama declared to Joe the Plumber that this was part of his political philosophy and policy platform. Biden did not like the interviewers reference to Marxism: “From each according to his ability, to each according to his need (or needs)” Now Joe Biden cant have it both ways . In his acceptance speech he played the class warfare card. Obama's redistribution of wealth policy is grounded in Socialism/Marxism. Why not call it what it really is? Obama plans an explosion in expenditure devoted to Welfare. This is redistribution of wealth. Much of this money will come from higher taxes on the middle class and on businesses.

How is Obama going to finance tax cuts? His promises amount to 1,000 billion dollars. The bailout costs another 700 billion dollars. He is opposed to a public expenditure freeze. Obama and Biden must come clean on funding for tax cuts?

When asked about foreign policy he used the snide put down “I don’t know who is writing your questions for you.”
In the course of this campaign Obama and Biden have received very favourable treatment from most media organs. Now the Obama campaign is denying this station interviews because Joe Biden was asked substantive questions. This says it all.
Just imagine if Sarah Palin had addressed the interviewer in a similar manner to Joe Biden. There would be an outcry in the liberal media.

CNN anchor Drew Griffin distorts National Review quote in interview with Sarah Palin

The National Review carried a story which was actually highly complimentary of Sarah Palin. Drew Griffin in this interview misrepresented the thrust of the article. CNN -whilst supporting Barack Obama -has generally been reasonably fair in the campaign. It should apologise to Sarah Palin. Palin has been shockingly treated by the liberal media.

Palin's ABC comments on Russia misrepresented in new smear-Palin did NOT say that she would attack Russia

Some Democrats and their allies in the liberal media and leftist blogosphere have begun to spin a new smear against Sarah Palin on the basis of comments made in an interview with Charlie Gibson on ABC.
This interview was laced with booby traps.

In the interview Palin stressed her support for Georgian membership of NATO. Barack Obama and Joe Biden also support Georgian membership of NATO. Now it is important to bear in mind that NATO policy, states that an armed attack against one or more of the Allies in Europe or North America shall be considered an attack against them all. Obama and Biden obviously agree with this.
GIBSON: "And under the NATO treaty, wouldn't we then have to go to war if Russia went into Georgia?
PALIN: PERHAPS SO. I mean, that is the agreement when you are a NATO ally, is if another country is attacked, you're going to be expected to be called upon and help."

It is important to consider Palin's words carefully here. Her reply is nuanced. She holds to NATO policy. However she uses the words PERHAPS SO. This is the mark of a skilful politician. She did not state that she favoured an attack on Russia. She left open the possibility. She has wriggle room. The word "Perhaps" according to Websters dictionary means any of the following: possibly but not certainly, maybe or something open to doubt.
If she had not held to NATO policy she would have given Russia the green light to attack NATO countries such as Poland. Russia has already threatened Poland.

Russia respects tough opponents. Russia will not risk adventurism if it knows the likely consequences. It will risk adventurism if it detects weakness. Sarah Palin did not say she would go to war with Russia. She said PERHAPS SO. JFK adopted the same policy. Remember Cuban Missile Crisis.
In the interview also:
PALIN: "We cannot repeat the Cold War. We are thankful that, under Reagan, we won the Cold War, without a shot fired, also. We've learned lessons from that in our relationship with Russia, previously the Soviet Union.
We will not repeat a Cold War. We must have good relationship with our allies, pressuring, also, helping us to remind Russia that it's in their benefit, also, a mutually beneficial relationship for us all to be getting along. "

Democrat smear merchants omitted these comments.

She clearly has a strong grasp of foreign policy detail and has the pragmatism to accompany it.

Sarah Palin Interview August 29, 2008 with CNBC's Maria Bartiromo - Video

Sarah Palin discusses Joe Biden, ANWR, drilling, oil and jobs and energy independence

Sarah Palin interviewed by Glenn Beck last June

Alaska's governor talks about her state and resource development. As this interview clearly illustrates Sarah Palin is a politician of great substance clearly in command of her brief. This gives the lie to Democrat propaganda which claims that she lacks experience. She has two years executive experience as governor of Alaska. Obama has absolutely NO executive experience. So the GOP number two has more experience than the Democrat number one. What qualifies Obama to be president? John McCain has made an excellent choice of running mate.

Expense Allowance Abuse by MEPs (Alleged)

Hans-Peter Martin and RTL in the fight against alleged abuse of expense allowances:
A Member of the European Parliament (MEP) in Brussels earns approx. 14,700 euros per month (~£11,587), according to this RTL Report (in German with English subtitles). How much the MEPs have to work (or don't work) for their €14,700 is the subject of this on-site RTL investigation in Brussels. The video is about MEPs who sign in on attendance lists and then allegedly disappear immediately for their weekend.

Independent Irish MEP Kathy Sinnott appears in this video. She explains clearly that she has already been working seven hours up to seven o'clock. The Munster MEP warns him "Be very careful about using this and what you report about me". In actual fact Kathy Sinnott is not abusing the scheme. She explained clearly on RTE radio-in an interview with Myles Dungan- this morning that she can actually verify her claims to have worked up to seven o'clock.

The Real McCain/Rubin Interview shows that John McCain has not flip-flopped and is consistent in his stace of no unconditional meetings with Hamas

In an article in the Washington Post titled Hypocrisy on Hamas, James P. Rubin-who served in the Clinton Administration- recounts an interview which he conducted with McCain for Sky News. He quotes selectively as follows and misrepresents John McCain's position: "I asked: "Do you think that American diplomats should be operating the way they have in the past, working with the Palestinian government if Hamas is now in charge?"

McCain answered: "They're the government; sooner or later we are going to have to deal with them, one way or another, and I understand why this administration and previous administrations had such antipathy towards Hamas because of their dedication to violence and the things that they not only espouse but practice, so . . . but it's a new reality in the Middle East. I think the lesson is people want security and a decent life and decent future, that they want democracy. Fatah was not giving them that."

Rubin in his article omitted several key sentences including the following "......It depends on how Hamas acts as a new government". This proves conclusively that John McCain has not flip-flopped and is consistent in his stance of no unconditional meetings with Hamas.

Clinton prepares for Democratic Convention Bloodbath as huge split looms-The Lady is not for turning

In an interview with Greta Van Susteren tonight -on Fox News- Clinton was strong on aspirations but weak on solutions. She had something for every one in the audience. She used all the usual soothing sound bytes designed to woo the electorate. She talked about a strong middle class and then outlined a wish list, which if brought to fruition would cripple the middle class -by higher taxation. When challenged to outline her policy on job creation she hinted at curtailing free trade. Protectionism is a recipe for American stagnation. She failed dismally to outline a clear strategy on wealth creation. In short she has no credible economic policies. A Clinton Presidency will usher in a period of rocketing taxation.

Once more she refused to admit that she told untruths in relation to her trip to Bosnia. As far as she was concerned it was an honest mistake. Unfortunately for Clinton the TV footage tells another story.

In relation to the nomination she outlined her determination to take the fight to the convention floor. She stated that there was ten more states -with millions of votes- to be counted. She consistently emphasised the right of Michigan and Florida voters. She declared that the Florida/Michigan votes would be counted one way or another at the convention. In other words there will be a fire fight on the convention floor if necessary. She consistently blamed Obama for the impasse. Clinton is prepared to fracture the Democratic Party if necessary to get the nomination. The lady is not for turning. The Democratic Party is on the precipice of self-destruction propelled by a ruthless ambitious woman. This is music to the ears of the GOP.

Fox News- Fred and Jeri Thompson interview on Hannity and Combes is a huge success

Fred and Jeri Thompson-together with their two young children- made a very impressive debut on Hannity and Combes. Sean Hannity was the interviewer.

Jeri is the perfect foil to Fred.

She explained how they met in line at a grocery store. Both emphasised the centrality of their two children in their lives. We get a picture of a happy family which is attractive to GOP voters and Independents and conservative Democrats. Jeri was quite shrewd in her pronouncements and avoided any personal attacks on political opponents. Instead she emphasised the plight of poor women in countries such as Afghanistan and the necessity for those women to have equal rights. She spoke most eloquently.

Fred spoke of his desire to make the world a better place for his children and for the next generation. He stressed his conservative credentials by mentioning the necessity for sound finances. He said that we must not eat the seed corn. He spoke of his determination to contain terrorism.

He came across as someone with strong conservative beliefs-in short a conviction politician who will not be deflected by criticism. This is in marked contrast to Hillary Clinton who flip flops on a regular basis.

In March Focus on the Family founder James Dobson had criticised Fred by saying "I don't think he is a Christian". Last night Thompson stated “I’m not going to dance to anyone’s tune.”

He said that he was very happy in his relationship with God.

This interview should boost Fred Thompson's poll ratings. He is a strong candidate who would more than match Hillary Clinton in debate. His innate conservatism is more attractive than Hillary's Socialism and flip flops.