Don’t Call it “Nationalization!”

Harry Reid doesn’t like it when people call the anticipated government take-over of Citigroup—by virtue of stock ownership—nationalization. “It’s not nationalization, it’s protecting the taxpayers’ interests,” said Reid (D-NV) on MSNBC’s “Morning Joe” program last Monday. “In the bailout, the TARP, that we made sure the American taxpayer had a way of getting paid back for their investments. That’s what this is all about and it’s the right way to go.” The Swedes did something like this a while back, and they called it nationalization. How is this different? Only the political charge of the language is different. The Power of Words Words have never been this powerful, at least not since Reagan brought the US out of Jimmy Carter’s malaise. Consider what we have seen: ·        The President repeating the word... [Read Full Article]


Reid Loses—You Win!

I know that we are supposed to expect a level of duplicity and shadiness from what is shaping up to be one of the worst Congresses on record, but even this was a new low. Senate Majority Leader Harry Reid (D-NV) and Senate Appropriations Committee Chairman Robert Byrd (D-WV) introduced a $56 billion economic stimulus package that would have spread all sorts of money all over (sorry folks, no checks coming back in this one), while the following language was buried in the midst of it: SEC. 1602. Notwithstanding any other provision of law, including section 152 of division A of H.R. 2638 (110th Congress), the Consolidated Security, Disaster Assistance, and Continuing Appropriations Act, 2009, the terms and conditions contained in section 433 of division F of Public Law 110–161 shall remain in effect for the 19 fiscal year ending September 30, 2009. In layman’s terms, Reid tried to extend the ban on shale oil exploration and development in the Ro... [Read Full Article]