SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction -- Ignore unavailable to you. Want to Upgrade?


To: Sully- who wrote (70516)3/25/2009 2:01:01 PM
From: Sully-  Respond to of 90947
 
Evaluating Geithner's Plan

Burt Folsom
The Corner

Still reeling from last week's flap over executive bonuses at AIG, Tim Geithner at Treasury dusted off and tweaked Hank Paulson's old plan for handling troubled assets. Paulson wanted to isolate the bad bank debts, box them up, and market them for whatever they would bring. Geithner wants to try a variation of this: Banks put up their toxic legacy assets, and, with FDIC help and federal dollars, repackage these assets for resale.

On the negative side, Geithner's plan is likely to be very expensive. Second, its success lies in part in describing these troubled assets accurately enough to create a legitimate market for them. Unfortunately, no one knows how well these assets can be packaged and resold. If, in fact, they can be packaged and resold profitably, then buyers will now need additional assurance that they won't be taxed 90 percent on any gains from toxic assets. Third, is the general problem that the strategy of massive spending did not get us out of the New Deal, and is not working so far today either.

Here is a positive point on the Geithner plan. Packaging and reselling bad assets — even at huge losses — is the market's way of dealing with bad investments. Geithner, then, is to some extent finally allowing markets to dispose of these bad debts. That method of confronting losses is superior to what Presidents Hoover and Roosevelt tried in the 1930s with the Reconstruction Finance Corporation (RFC). In the 1930s, the RFC officials made direct loans to troubled banks — and many of the banks failed anyway. The RFC could not predict well which banks could survive and which couldn't. Markets, Geithner seems to recognize, better than bureaucrats, can assign a fair value to the assets and at last take them off the books.

— Burt Folsom writes for BurtFolsom.com, teaches at Hillsdale College, and is the author of New Deal or Raw Deal?.

corner.nationalreview.com



To: Sully- who wrote (70516)3/25/2009 2:58:25 PM
From: Sully-  Read Replies (1) | Respond to of 90947
 
South Bend's Bishop John D’Arcy Will Not Attend Notre Dame's Commencement

Kathryn Jean Lopez
The Corner

From the Catholic diocese of Fort Wayne Indiana:

Concerning President Barack Obama speaking at Notre Dame
graduation, receiving honorary law degree

March 24, 2009

On Friday, March 21, Father John Jenkins, CSC, phoned to inform me that President Obama had accepted his invitation to speak to the graduating class at Notre Dame and receive an honorary degree. We spoke shortly before the announcement was made public at the White House press briefing. It was the first time that I had been informed that Notre Dame had issued this invitation.

President Obama has recently reaffirmed, and has now placed in public policy, his long-stated unwillingness to hold human life as sacred. While claiming to separate politics from science, he has in fact separated science from ethics and has brought the American government, for the first time in history, into supporting direct destruction of innocent human life.

This will be the 25th Notre Dame graduation during my time as bishop. After much prayer, I have decided not to attend the graduation.
I wish no disrespect to our president, I pray for him and wish him well. I have always revered the Office of the Presidency. But a bishop must teach the Catholic faith “in season and out of season,” and he teaches not only by his words — but by his actions.

My decision is not an attack on anyone, but is in defense of the truth about human life.

I have in mind also the statement of the U.S. Catholic Bishops in 2004. “The Catholic community and Catholic institutions should not honor those who act in defiance of our fundamental moral principles. They should not be given awards, honors or platforms which would suggest support for their actions.” Indeed, the measure of any Catholic institution is not only what it stands for, but also what it will not stand for.

I have spoken with Professor Mary Ann Glendon, who is to receive the Laetare Medal. I have known her for many years and hold her in high esteem. We are both teachers, but in different ways. I have encouraged her to accept this award and take the opportunity such an award gives her to teach.

Even as I continue to ponder in prayer these events, which many have found shocking, so must Notre Dame. Indeed, as a Catholic University, Notre Dame must ask itself, if by this decision it has chosen prestige over truth.

Tomorrow, we celebrate as Catholics the moment when our Lord and Savior, Jesus Christ, became a child in the womb of his most holy mother. Let us ask Our Lady to intercede for the university named in her honor, that it may recommit itself to the primacy of truth over prestige. >>>

corner.nationalreview.com



To: Sully- who wrote (70516)4/1/2009 6:49:26 AM
From: Sully-  Read Replies (1) | Respond to of 90947
 
How Catholic is Notre Dame?

By Paul
Power Line

The University of Notre Dame has invited President Obama to speak at its commencement ceremonies. Obama has accepted the invitation. At the ceremonies, as is the custom, Notre Dame will award him an honorary degree.

Notre Dame, of course, is a Catholic institution. The Catholic Church has always condemned abortion as a grave evil. President Obama, by contrast, believes that woman should be able to have abortions on demand.
So committed is he to making abortions available that he has struck down the Bush administration's ban on giving federal money to international groups that perform them. From the Catholic and anti-abortion perspective, he has thereby, in the words of the Bishop of Fort Wayne-South Bend, "brought the American government, for the first time in history, into supporting direct destruction of innocent human life."

It is shocking to me that Notre Dame would honor Obama under these circumstances. Indeed, in 2001, the U.S. Catholic Bishops declared

<<< The Catholic community and Catholic institutions should not honor those who act in defiance of our fundamental moral principles. They should not be given awards, honors or platforms which would suggest support for their actions. >>>


However, as a non-Catholic I thought I should consult a devout member of that faith before writing on the subject. Here is how a good friend and devout Catholic responded when I asked for his view:

<<< Notre Dame has a history of inviting pro-choice public officials to speak.

Then-Governor Mario Cuomo spoke there in the 1980s. He purported to explain how he could be a loyal Catholic and, as a person sworn to defend the Constitution, support the Constitution's supposed "right" to have an abortion.

To Catholics who actually accept the Church's teaching that abortion is intrinsic evil, Mr. Cuomo's remarks were and remain an outrage, analogous to Adolph Eichmann's "I owed a duty to Germany to follow orders" defense.

Mr. Cuomo's speech also became the expression of the typical liberal Catholic line. Senators Edward Kennedy and John Kerry, Governor Tom Ridge, House Speaker Nancy Pelosi, and others followed.

Now comes Mr. Obama. President Obama has endorsed the most pro-abortion policies during his entire public life, and he continues to do so. And Notre Dame apparently seeks to honor him.

The U.S Bishops are acutely and painfully aware of allegations about "Hitler's pope" and Church complicity in the Holocaust. They have a duty to oppose evil, and they are rightly concerned about a Catholic institution honoring an individual who is so devoted to legal protections for abortion. >>>


So you would think.

UPDATE: Suggesting that Notre Dame has placed "presitge" over "truth," the Biship of Fort Wayne-South Bend has said he will not attend Notre Dame's commencement. It will be the first one he's missed in his 25 years as bishop.

powerlineblog.com



To: Sully- who wrote (70516)4/7/2009 2:51:17 AM
From: Sully-  Read Replies (1) | Respond to of 90947
 
Notre Dame's Betrayal of Faith

By Selwyn Duke
American Thinker

When John the Baptist said to King Herod, "It is not lawful for thee to have thy brother's wife," the price he paid was his head on a platter. He had spoken Absolute Truth to power in a time when power was absolute. It was the bravest of acts, the kind only undertaken by those very rare men for all seasons.

Lying in stark contrast to this is catholic (note the small "c") Notre Dame University's genuflection before Barack Obama, a man embodying the very antithesis of Catholic teaching. As most are aware, the university extended an invitation to Obama to deliver a commencement address and, to make matters worse, will bestow upon him an honorary doctorate. This, despite the fact that Obama has distinguished himself as the most militantly anti-life president in American history. In fact, his support of abortion extends to the point of infanticide, and I speak of his, at best, indifference to the Born Alive Infants Protection Act. In opposing the Illinois version of this legislation -- thereby signaling his willingness to allow newborn babies to die in soiled store rooms -- he showed his true colors. That is to say, it's not so much that the matter of when a baby gets human rights is above his pay grade; it's that he is morally degraded.

Adding to his impressive pro-death resume, Obama has rescinded the Mexico City Policy, thereby allowing our tax money to be used to promote abortion in foreign lands. He is also using tax dollars to fund the harvesting of stem cells from nascent human life. And he endeavors to establish a policy that would force health-care workers to either be party to abortion or risk losing their jobs ("Freedom of Choice" Act).

But it isn't just on life issues that Obama is found wanting. He also supports special rights for homosexuals (euphemistically called "gay rights"). Additionally, he apparently was a member of Chicago's socialist New Party in the 1990s, an association he has never adequately disowned. This is relevant because embracing socialism is contrary to Catholic teaching. As Pope Pius XI said plainly in 1931, "No one can be at the same time a sincere Catholic and a true Socialist." (In fact, the Church has long condemned socialism - here and here, for instance).

Yet the inappropriateness of honoring Obama at Notre Dame doesn't have to be inferred from pronouncements from the past. Contemporary Church leaders have made their voices heard as well, with 13 bishops publicly criticizing the invitation. Among them is Bishop Edward J. Slattery of Tulsa, who said,

<<< "For President Obama to be honored by Notre Dame is more than a disappointment, it is a scandal." >>>

Archbishop John J. Myers of Newark said,

<<< "When we extend honors to people who do not share our respect and reverence for life in all stages, and give them a prominent stage in our parishes, schools and other institutions, we unfortunately create the perception that we endorse their public positions on these issues." >>>

Bishop R. Walker Nickless of Sioux City wrote,

<<< "Catholic institutions of higher learning must always be places where the Catholic values we hold so dearly will always be supported and promoted - not where the culture of death is allowed to be honored or valued." >>>

And, in a letter to Notre Dame President Rev. John I. Jenkins, Archbishop John Nienstedt of St. Paul and Minneapolis called the invitation an "egregious decision" and said,

<<<"It is a travesty that the University of Notre Dame, considered by many to be a Catholic University, should give its public support to such an anti-Catholic politician." >>>


Now, here some will say that Jesus was also criticized for consorting with sinners and responded with that heavenly wisdom, "The healthy are in no need of a physician." Yet this isn't an analogous situation. More appropriate here is, "The unhealthy are in no need of a podium." I would have no problem with anyone offering Obama counsel - he could certainly use it. I myself would be happy to talk with him if he asked; maybe I could muster shades of John the Baptist. But what Notre Dame is doing is quite different: It is honoring Obama by bestowing a doctorate upon him. Additionally, it is not giving him an opportunity to receive counsel but a forum in which to dispense it - and to malleable young minds at that.

Then there are those, such as the writers of this silly Los Angeles Times editorial, who accuse those on my side of hypocrisy, saying we were silent when pro-death penalty George W. Bush spoke at Notre Dame in 2001. Well, let's examine this.

There is no equivalency between abortion and the death penalty or, for that matter, what is supposedly President Bush's mortal sin, launching military campaigns. The Church teaches that while capital punishment is hardly ever necessary in modern societies, it nevertheless is the right of "legitimate temporal authorities" to determine when it is justifiable. The Church also promulgates Just War Doctrine.

There is no Just Abortion Doctrine.

Unlike capital punishment and war, direct abortion is never morally licit under any circumstances.

Having said this, there is a deeper issue to address. We're all sinners, and we could probably pick any president and find ways in which he violated Catholic teaching. And what about academic freedom? As the L.A. Times opined, the issue at Notre Dame is "whether a distinguished university should ban a speaker with whom it disagrees or engage him . . ." and that all universities "sometimes need to be reminded of the importance of uninhibited debate."

But the university isn't "engaging" Obama; it is giving him a forum in which to speak unopposed. There will be no debate. Of course, I realize that when the editorialists speak of "uninhibited debate," they refer to a general climate of academic inquiry and give-and-take fostered over time by exposure to different ideas. But while this sounds good, it's nonsense.

While leftists can pontificate all they like about "academic freedom," they draw lines like anyone else. Would they hire a professor or schedule a speaker who would advocate the extermination of a minority? If not, why? I mean, whomever they chose will be a sinner, and do not judge lest ye be judged. And would they entertain a debate about the reinstitution of slavery or whether or not germs really cause disease? How about trephination (drilling a hole in someone's head) as a solution to mental illness?

The point is that our gratuitous talk about "open-mindedness" is mere sloganeering, as we all consider certain issues to be settled. As G.K. Chesterton once said, "The point of having an open mind, like having an open mouth, is to close it on something solid." A child cannot advance in math if he won't accept simple truths such as two plus two equals four, and science would never have ascended from a childlike state of primitiveness had man not accepted and then built upon simple scientific truths. We might have debated Aristotle's geocentrism versus Copernicus' heliocentrism in 1600, but if we had still been wrangling over it in 1910, we would have been insane. Perpetual open-mindedness in all matters is not a virtue because it isn't "mindedness" at all; it is the trumping of the mind. The mind is there to find answers, not just ask questions.

And moral truths should be treated with at least the respect of scientific ones. "Open-minded" secularists will be quick to point out that morality isn't science, and I'll be even quicker to say they're hypocrites. I reiterate that they draw their lines (slavery, racism, sexism, extermination of minorities, etc.), proving that their relativistic creed is mainly for use on other people's values. They have their dogma, just like everyone else.

But, leftists, here is a newsflash: This isn't about your dogma - it concerns Catholic dogma. You have your values, and you're very self-centered to believe they should prevail in a Catholic setting. Not everyone is as numb to morality as you are, and believing Catholics understand that many matters you're confused about are actually settled issues. We also understand that, as with science, man cannot progress morally unless he accepts known truths and builds upon them.

The bottom line is that Catholic institutions (if they are to be authentic) have a responsibility to apply Catholic dogma, not the secular variety. They have an obligation to draw Catholic lines, not merely replicate those of the Los Angeles Times. They have a duty to instill students with Catholic teaching, not that of Berkeley. Thus, in such an eminently sane setting abortion isn't a debated issue. It's a settled issue. And Barack Obama isn't just another president. He is way over the line.

Really, this whole affair smacks just a bit of evangelist Billy Graham's obsequious behavior with respect to the Clintons. I'm referring to how he once called them a "great couple" and "wonderful friends," implied that Hillary Clinton might make a good president and once quipped that Bill Clinton "should be an evangelist" and "leave his wife to run the country." Ah, Rev. Graham, "if thou dost not speak to warn the wicked from his way . . . ."

We should remember that since every age has its Herods, we have to ask ourselves a couple of questions. Would we recognize one if we saw him? And, then, would we have the faith and strength to be a John the Baptist?

Contact Selwyn Duke

americanthinker.com