Bush Put All Your Pension Reserves Into Stocks Just As They Started Dropping

The Pension Benefit Guaranty Corporation is the federal agency that insures YOUR pension. It collects insurance premiums from all the private pensions, and holds them in reserve to cover some of the losses if things go bad so you get at least some of your money.

But under Bush, they decided — just as the stock market started to drop — to put most of the money into stocks. It had been in bonds. See Pension insurer shifted to stocks – The Boston Globe,

Just months before the start of last year’s stock market collapse, the federal agency that insures the retirement funds of 44 million Americans departed from its conservative investment strategy and decided to put much of its $64 billion insurance fund into stocks.

This wasn’t stupid — it was most likely a way to enrich certain friends of The Party, buying from them just as the bottom fell out. We need to look at the specific beneficiaries of this money to find out.

There are many instances of Bush and other Republicans putting government money into enriching friends by buying up the problems just as their own holdings became worthless. For example, under Jeb Bush Florida put state pension money into Enron stock just as Enron started to collapse.

In 2005 I wrote “If you live in a state where Republicans run things, this might be a good time to see if the money is still there.” Now we’re finding out that applies to countries, too.

(And never forget that Bush gave the contract for filling the Strategic Petroleum Reserve to Koch Oil, a funder of a lot of the right’s organizational infrastructure. They also used government money to buy high and sold low.)

Anyway, here’s the thing. Direct corruption or ideologically-driven incompetence, either way… Republicans understand how to pound a point home and teach the larger lesson. This is just one more thing that drives home the point about how conservative ideology is harmful to people. Drudge has giant headlines for any smallest example of something that reinforces an ongoing narrative that liberals are socialists, etc., always teaching the larger lesson. We need to learn how to explain to the general public why progressive values and policies are better for them than conservatives. Especially now when the lesson can be taught so clearly. This story should be all over the place.

Paying Off Italy?

Read about how a contract for petentially unsafe Italian helicopters that will be used to fly the President might just be a Bush payoff to Italy for helping get us into the Iraq war, in Is the U.S. Paying Off the Italian Government for Forging the Niger Documents?,

that they were doing something extraordinarily wrong. The rigged bidding process bypassed, for example, Marine One pilots who repeatedly sought to give input. They had many safety concerns. At the time of the bid, the helicopter chosen was not certified to fly in the U.S. It was an old model made of heavy materials; this flew in the face of why the President supposedly needed a new fleet: i.e., so many extra security devices had been added to Marine One after 9/11, it was struggling to lift off. In its losing bid, the Connecticut-based Sikorsky, which had manufactured virtually all presidential helicopters since Eisenhower first ordered one, proposed a new model made of much lighter, composite materials.

Investigating Bush Crimes

Ivan Eland of the Independent Institute says Prosecute George W. Bush for Illegal Acts. The piece begins,

The Obama administration is reluctant to turn over too many rocks in the Bush administration’s conduct in the War on Terror. Obama has pledged to reach a post-partisan nirvana, and Republicans could condemn any investigation of Bush administration abuse of the republic as a partisan witch-hunt. Also, the Obama administration has a conflict of interest in pursuing investigations and prosecutions against Bush administration officials because now that Obama is president, he may not want to entirely discredit Bush’s precedents, which significantly expanded executive powers.

We Haven’t Been Attacked

We were attacked on 9/11 after the Bush administration ignored a memo titled, “Bin Laden Determined To Strike In US,” and went on vacation. Never forget that.
But the Republicans are spouting the “We haven’t been attacked since 9/11” as an accomplishment!
We were attacked on 9/11 because they screwed up, and then they used that to divide the country and push a right-wing agenda, Dept of Homeland Security getting unions out of the government, tax cuts, invading Iraq, etc.

The Shoe-Thrower

Shoes thrown at Bush on Iraq trip
This is the translation of what the Iraqi show-thrower said as he threw the shoes. (Also — In Iraq throwing a show and calling someone a dog is an extreme insult.)

First Shoe:
This is the gift from the Irakis this is the farewell kiss you dog.
Second Shoe:
This is from the widows, the orphans and those killed in Irak.

Bush Not Moving To Ranch

George W. Bush bought his ranch just before running for President. The former cheerleader, scared of horses, who travels with a special pillow he calls his “Pilly” understood that Americans want to vote for the Marlboro Man. So the ranch was a prop to trick the press and the public into believing they were voting for the macho man.
And now, leaving the Presidency (thank God!) Bush will not return to the ranch, preferring to live among the white and wealthy. Bush’s New Neighborhood Barred Non-Whites Until 2000,

“Said property shall be used and occupied by white persons only except these covenants shall not prevent occupancy by domestic servants of different race or nationality in the employ of a tenant.”

Let Bush Manage Bailout?

The Treasury Secretary wants the largest tax expenditure in history to be considered and passed IN A WEEK, just before an election. And then the BUSH ADMINISTRATION will manage how the bailout is handled.
Does this set off any alarm bells, people? The BUSH ADMINISTRATION is going to be in charge of deciding how trillions of our dollars are going to be allocated? The incompetent, “no bid contract,” Halliburton, billions in cash disappearing in Iraq, Katrina, CORRUPT BUSH ADMINISTRATION allocating ALL THE REST OF THE MONEY IN THE TREASURY???
Hey, people, this is all of it. This is your retirement money, your hopes for a health care plan, your ability to buy food, all coming up in one massive spending bill IN A WEEK.
Tell me, what do you THINK is about to happen???