M2RB:
People say I'm crazy
I got diamonds on the soles of my shoes
Well that's one way to lose
These walking blues
Diamonds on the soles of your shoes
I got diamonds on the soles of my shoes
Well that's one way to lose
These walking blues
Diamonds on the soles of your shoes
BY STEVE HUNTLEY
Chicago Sun-Times
shuntley.cst@gmail.com
28 May 2012 7:30PM
With the presidential campaign
gathering steam, the voters are going to be fed a lot of baloney before
Election Day.
One of the biggest humdingers now coming your way: The
Bush tax cuts are responsible for the mess the country is in.
A recurring theme in President Barack Obama’s attacks on Republican presidential candidate Mitt Romney and his tax policies is: “We can’t go back to the same policies that got us into this mess.”
Sophie: What policies? Tax cuts do not cause recessions:
President George W. Bush’s tax cuts did not cause the fiscal crisis of 2008. Our economic calamity came in a housing meltdown — the result of years of administrations of both parties encouraging variable-interest, no-interest, little or no down payment, and no-document or liar loans that flooded people into homes they couldn’t afford under traditional mortgage lending practices.
To its credit, the Bush administration twice advanced reforms to rein in Fannie Mae and Freddie Mac, major players in pushing bad loans. Each time it was blocked by powerful Democrats, Rep. Barney Frank of Massachusetts and Sen. Chris Dodd of Connecticut.
Frank
famously said he wanted the two quasi-governmental agencies “to roll
the dice a little bit more in this situation towards subsidizing
housing.” Even after the home-ownership explosion was starting to be
revealed to be a house of cards, Dodd declared, “These two institutions
are fundamentally, fundamentally strong.”
So far, “rolling the dice” on the two “fundamentally strong” agencies has cost the taxpayer $150 billion. No wonder the Wall Street Journal calls Fannie and Freddie the “toxic twins.”
The irony is that Frank and Dodd not only escaped responsibility
for their roles but they foisted blame for the housing bust on high
finance and authored a 2,000-plus-page bill to pile new regulations on
banks and other financial institutions.
No doubt, Wall Street played an egregious role in the housing bubble, but the bottom line is that, absent the millions of bad mortgages, the speculators would have had nothing at which to throw billions of dollars in risky bets.
We can debate the merits of tax cuts vs. tax increases and spending reductions (actually slowing the growth of Washington’s profligacy) vs. government “investments” all day long, but we won’t be talking about the root causes of the housing crisis that precipitated the Great Recession.
Home sales finally may be showing signs of life, but that’s not because of anything the administration has done. Its efforts to rescue “underwater” homeowners who owe more than their houses are worth have been ineffective. The free-market system is slowly wringing out these bad loans. Still, it’s more than a little troubling that nearly four years after the bubble burst, no one has an accounting of all the sour loans.
Conflating the housing bust and the Bush tax cuts
is a way to distract the voters from the failure of the
administration’s nearly trillion-dollar stimulus and other policies to
right the economy.
Distraction is also the goal of attacking Romney’s record at the equity firm Bain Capital by focusing on its few failures. The actual Bain record is one of 80 percent success in rescuing ailing firms and building new businesses, adding jobs and creating wealth for investors, millions of them in public pension funds.
Best advice to voters: Keep your eye on the Obama record on the economy.
Diamonds On The Soles Of Her Shoes - Paul Simon
(a-wa) O kodwa u zo-nge li-sa namhlange
(a-wa a-wa) Si-bona kwenze ka kanjani
(a-wa a-wa) Amanto mbazane ayeza
She's a rich girl
She don't try to hide it
Diamonds on the soles of her shoes
He's a poor boy
Empty as a pocket
Empty as a pocket with nothing to lose
Sing Ta na na
Ta na na na
She got diamonds on the soles of her shoes
She got diamonds on the soles of her shoes
Diamonds on the soles of her shoes
Diamonds on the soles of her shoes
People say she's crazy
She got diamonds on the soles of her shoes
Well that's one way to lose these
Walking blues
Diamonds on the soles of her shoes
She was physically forgotten
Then she slipped into my pocket
With my car keys
She said you've taken me for granted
Because I please you
Wearing these diamonds
And I could say Oo oo oo
As if everybody knows
What I'm talking about
As if everybody would know
Exactly what I was talking about
Talking about diamonds on the soles of her shoes
She makes the sign of a teaspoon
He makes the sign of a wave
The poor boy changes clothes
And puts on after-shave
To compensate for his ordinary shoes
And she said honey take me dancing
But they ended up by sleeping
In a doorway
By the bodegas and the lights on
Upper Broadway
Wearing diamonds on the soles of their shoes
And I could say Oo oo oo
As if everybody here would know
What I was talking about
I mean everybody here would know exactly
What I was talking about
Talking about diamonds
People say I'm crazy
I got diamonds on the soles of my shoes
Well that's one way to lose
These walking blues
Diamonds on the soles of your shoes
2 comments:
Hello young lady, the angry one here, I just wanted to inform you that slade 73 is DHChron on hotair.
I didn't know if he told you yet. Have a great day....;-)
Thanks, angry one.
Have a fabu day!
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