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John Cronin

Black Sunday: Lehman Bros. Goes Bust, Merrill Sold to Bank of America

September 15th, 2008 | 11 Comments | Posted in Business, Conservatism, economy, free-market economics

In one of the worst financial crises of our lifetime, the venerable Lehman Bros. investment bank has been told by Treasury officials that no public funds will be used to bail out the firm. Merrill Lynch has agreed to be purchased by Bank of America for $50 billion. The fate of insurance giant AIG is not known at this writing.

There are several stories about the situation in this morning’s Wall St. Journal and I have no doubt that the story will be widely covered, but IMHO, one thing must be kept in mind. Lehman has suffered the same fate that anyone of us as private citizens would suffer if we bet the farm on one roll of the dice. Lehman will now either be liquidated or will file for bankruptcy.

The only satisfaction that comes out of this situation is that the Treasury finally said no to a firm looking to tap taxpayer funds. The amount of risk these firms took and the hubris of their CEO’s is nothing short of stunning. After the colossal bailouts of the shamelessly mismanaged Freddie Mac and Fannie Mae, if the Secretary of the Treasury has showed up this weekend with our checkbook in hand to cut another check to the pirates that have been running these companies the last few years, I believe that the next order of business would have been a tax payer revolt.

~~John Cronin~~

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Fear the Government That Fears Your Gun

When I first came upon this article, I thought of Obama’s snide remark during the Pennsylvania primary that people in some of the rural areas of America were “bitter, clinging to their guns and religion.”

I know that gun ownership is controversial in some quarters, but history is replete with examples of dictators ( Germany in the 1930’s and Vietnam in the 1970’s ) moving very quickly to confiscate all firearms from the general population as one of their first priorities.

Take the time to read this article if you are not up to speed on the issues surrounding the Second Amendment and why conservatives feel so passionately about this.

~~John Cronin~~

http://www.humanevents.com/article.php?id=28077

By: A.W.R. Hawkins

In West Texas, it was not uncommon to see the bumper sticker “fear the government that fears your gun” on a lot of pick-up trucks during both terms of the Clinton administration. Like the rest of the South and much of the Midwest, we were hypersensitive to the thought of having our right to keep and bear arms infringed upon in any way. Moreover, common sense and annual FBI crime statistics taught us that 99.9% of the population only used their guns for defensive reasons, thus we were particularly leery of an administration that sought to take away our instruments of self-defense. Yet as bad as Clinton was, his push to disarm the American people would pale in comparison to what we’d see from a President Barack Obama, a man who not only wants to disarm the American people, but America’s allies as well.

In the 1990s, my fellow West Texans and I were especially bothered by the way Clinton turned every crime — from Columbine to gang activity — into an opportunity to pass incremental legislation which made it harder for law-abiding citizens to purchase and carry guns, and therefore harder to be free. And if Obama’s past is any indication, this is the same course he would take in his attempt to get guns out of our hands.

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A Summer Celebration Fundraiser for Congressional Candidate Nathan Bech

Attention Massachusetts’ Mittheads. Here’s a chance to meet and support Armed Forces Veteran and conservative Republican Congressional candidate, Nathan Bech.

~~John Cronin~~

A Summer Celebration Fundraiser
with Ambassador & Governor Paul Celluci
Author of “Unquiet Diplomacy”
for Congressional Candidate Nathan Bech

Wedensday, August 20th
At the Leominster Elks Lodge #1237
134 North Main St.

Book Signing 6:00-7:00 PM
Suggested Donation $200 (Book Included)
Suggested Donation $150 (Bring Your Own Book)

General Reception 7:00-8:00 PM
Suggested Donation $50

RSVP to events@nathanbech.com or call 413-788-0669

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Akin Refuses to Mortgage America’s Future….Says Bailout Is One of the Worst Bills in Eight Years

I have been so busy blogging for Mitt Romney and for conservative Republican Congressional candidates around the country, that I have inadvertently over looked my own Congressman!

One of the reasons I haven’t been posting about Todd Akin here in Missouri’s 2nd CD is because Todd is a rock-ribbed Republican who can absolutely be depended upon to vote the way he promises constituents he will vote during the campaign. No surprises with Todd Akin in office.

Below is a recent news release that was posted on Congressman Akin’s website where he talks about the budget-busting bailout of those involved in real estate speculation.

~~John Cronin~~


http://akin.house.gov/list/press/mo02_akin/20080723.shtml

July 23, 2008

Washington, DC –

Congressman Todd Akin (R-MO) says he will vote against yet another huge government bailout, which is expected to be voted on today. H.R. 3321, the Emergency Assistance for the Redevelopment of Abandoned and Foreclosed Homes Act, seeks to address increased mortgage foreclosures by spending at least $300 billion in taxpayer dollars.

The $300 billion bailout is for borrowers and lenders of home mortgages that have overextended.

“I have heard loud and clear from many of my constituents that although there is sympathy for those facing a home foreclosure, they do not want to see their hard earned tax dollars being spent on another huge government bailout,” stated Akin. “The answer is not to penalize the vast majority of taxpayers who have borrowed responsibly and are able to meet their obligations. By throwing government dollars at the problem, we are creating incentives for foreclosure, increasing government debt, and in the long run worsening the economy.”

“The measure also guarantees a substantial number of Freddie Mac and Fannie Mae loans creating a potential liability of up to trillions of dollars that could dramatically increase the national debt,” said Akin.

“In this regard, the American taxpayer is being asked to underwrite the financial mismanagement of these quasi-governmental agencies,” said Akin. “Instead of giving the United States Treasury a blank check for the bailout we need to have, and enforce, stricter regulatory guidelines on these lenders”.

“Congress is sometimes metaphorically referred to as ‘the People’s House’. As such, we must be sure not to take on more debt than we can afford,” said Akin. “Because of the tremendous impact on the national debt, I believe this is one of the worst bills we have passed in eight years.”

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New Limbaugh Contract Inspires America

Wasn’t it great news when Rush’s mega contract was announced? Talk about a win-win situation. Conservative voices continue to dominate the airwaves because we have the best message and the best debaters. Liberals get to kvetch for at least another eight years.

Liberal radio is virtually non-existent as the last attempt to get anyone to listen to their dopey message, Air America, has failed miserably. Conservative radio is so popular and profitable for the stations that they can pay Rush $400,000,000 over the next eight years and still make money.

Anybody know how much Franken earned when he was electrifying America during his brief stint on the air?

~~John Cronin~~

http://www.townhall.com/Columnists/K…spires_america

By: Kathryn Jean Lopez

“There but for the grace of God go I.” The phrase is usually a cautionary note. My neighbor’s blunder could have been mine. My co-worker’s illness could easily be my affliction. I ought to count my blessings. But the flipside of the phrase is pregnant with promise, and many Americans felt it when they learned that radio-broadcaster phenom Rush Limbaugh, who marks his 20th year “of broadcast excellence” this summer, is making media history with a new $400 million contract.

Sure, many right-wingers were happy just to know that “El Rushbo” is making more than Katie Couric. “That could be me one day,” many surmise upon hearing news like that. With a little grace and hard work, maybe that kind of great success could be mine. Someday, that could be my son, if I teach him right. That sentiment — an appreciation of what’s possible in America, land of the free, which includes a free market — is at the heart of the non-hardcore-Left reaction to the news.

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Romney Stumping In DC For Pro-Life Republicans

Hat Tip to 2thepoint for the heads up on this story. Gov. Romney continues to rack up the frequent flier miles as he headlines dinners and fundraisers to benefit conservative republicans. When he is ready to run again in 2012, he will have the most extensive campaign organization in the country.

~~John Cronin~~

Real Clear Politics

By: Reid Wilson

June 05, 2008

Former Massachusetts Governor Mitt Romney, said to occupy a prominent place on whatever version of vice presidential short list John McCain has in his head, is keeping busy over a two-day stretch in Washington. While McCain is out of town, his one-time rival is certainly making his presence in Republican circles known.

Despite thunder and lightening, and more than a few tornado warnings, Romney attended a fundraiser held by the Susan B. Anthony List, which promotes pro-life Republicans, last night in Washington. Money from the event went to Rep. Steve Pearce, who on Tuesday claimed the GOP nomination to replace outgoing Senator Pete Domenici in New Mexico.

This morning Romney hit three morning shows — on MSNBC, CNN and Fox News — live from McCain’s Arlington, Virginia headquarters.

Later, Romney will hold a media availability at a swank hotel just up the road from McCain Central, with former Governor Jim Gilmore, the GOP nominee for retiring Senator John Warner’s seat, and businessman Keith Fimian, who is running for Tom Davis’s Eleventh District. Romney is also slated to attend a fundraiser for Lieutenant Governor Bill Bolling, who will run for re-election in 2009.

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GOP Storm is Brewing in Utah County

Another GOP incumbent gets the surprise of his political life. Jason Chaffetz, an immigration hardliner came within a handful of votes of unseating six term Congressman, Chris Cannon.

He did it because he pledges to enforce our border laws. I’ll be posting more on this new and rising conservative star in the Republican Party in the days and weeks to come.

~~John Cronin~~


http://deseretnews.com/article/1,5143,700226057,00.html

By Tad Walch
Deseret News

Sure, sure, Utah County voters are conservative, blah, blah.
Yeah, yeah, Utah County is the reddest county in the U.S. of A. Yada, yada, yada.
We know, already. The broad brush that paints this BYU-blue valley a blushing political red doesn’t mean that every person here is a red-eyed, straight-ticket conservative.
A vast number of real, living, breathing moderate Republicans roam these parts and even a few — whisper with me now … Democrats. But the Democrats are so November — nothing happens with them until the general election. A major June storm is brewing in the Republican Party, where Jason Chaffetz scared the stuffing out of six-term Congressman Chris Cannon on Saturday.
In fact, Cannon barely survived the day, holding onto his seat by a thread. His congressional career survived at the state GOP convention by a slim nine votes.

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McCain Seeks to Quash Fears On the Right

http://www.ft.com/cms/s/74283a7e-1b97-11dd-9e58-0000779fd2ac,
Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms
%2Fs%2F0%2F74283a7e-1b97-11dd-9e58-0000779fd2ac.html%3Fnclick_check%3D1&_i_
referer=http%3A%2F%2Fwww.drudgereport.com%2F&nclick_check=1

If we can hold McCain’s feet to the fire on SCOTUS nominations, we will have won half the battle.

~~John Cronin~~

By Andrew Ward in Washington

Published: May 6 2008 20:53 | Last updated: May 6 2008 20:53

John McCain promised on Tuesday to nominate conservative judges to the Supreme Court and for other judicial vacancies, seeking to quash doubts among some Republicans about his conservative credentials.

The Republican presidential candidate said he would use John Roberts and Samuel Alito, who were appointed to the Supreme Court by President George W. Bush, as his “model” when choosing nominees.

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Drumbeat for Romney for VP Grows Louder

Brief article over at HOT AIR touts Mitt Romney for the vice presidential slot.
The article talks about the strength that Romney would bring to the ticket because of his mastery of business and economics. If Mitt is not picked for VP, I think this is what needs to happen.

The McCain campaign needs to send a message to conservatives, IMHO, in two areas of vital importance, or they will not be pleased with the results they get at at the ballot box in November.

1. We need an iron-clad promise to secure our borders and to enforce the existing laws on immigration.

2. We need a comprehensive economic policy that includes making the Bush tax cuts permanent, killing the death tax, balancing the budget and moving to reform the bloated entitlement spending that threatens to bankrupt this country.

Failing to accomplish this, the feckless leadership we have been getting from the Republican Party at the national level, will usher in eight bleak years of Democratic rule.

I know I am repeating myself, but I will say it again. Unless grassroots Republicans rise up and retake this party in order to guide it back toward the conservative principles that made the Party and the country great, we are going to lose this election. If there isn’t two cents worth of difference between the Democrat’s platform and the Republican’s platform, who cares which party wins? Obviously the career politicians do, but I am talking about the voters who have to pay for all of this.

We are not getting our money’s worth!

~~John Cronin~~

http://hotair.com/archives/2008/05/01/pew-mccain-gaining-at-the-center/

The economy will present a critical test for McCain. He has worked on building economic chops, and his campaign has notable assistance in this area from Steve Forbes and even Mitt Romney. Obama’s stumble on capital-gains tax increases could help narrow this gap, but thus far the McCain campaign hasn’t offered any focus on that gaffe from the April 16th debate.
McCain could use a well-recognized hand on economics as a running mate. I’ve suggested that Romney could fill that role, although Allahpundit has been less enthusiastic. Romney did a great job with fundraising in 2007 and could help fill a critical gap there as well. Now that Jeremiah Wright has managed to splatter himself all over Obama, not too many people would worry about Mormons in the general election. Mormons aren’t known for asking that God damn America or promulgating weird conspiracy theories about HIV and government-sponsored genocides. Wright’s demagoguery has taken the Mormon issue off the table, if Obama wins the nomination.

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Dr. Bob Onder for U.S. Congress for Missouri

This is another in a series of posts that I hope to be able to contribute to this website. As our regular readers know, I have been supporting Jeff Beatty for the Senate from Massachusetts and Mike Pence from Indiana in his bid for re-election.

Now I would like to introduce another conservative Republican who was recommended to me by the Speaker of the Missouri House, Rod Jetton.

His name is Dr. Bob Onder and he is running for the U.S. Congress.

Rod Jetton headed MissouriansForMitt during the primary campaign and worked tirelessly for Gov. Romney. He has asked me to help support Dr. Onder, and after I became familiar with his stand on the core issues that are most important to us, I said I would be happy to help.

Please go to Dr. Onder’s website and if you agree with me that we could use a man like this in Congress to protect the family, while supporting a strong military that is backed by a strong economy, please consider standing with us financially if possible or by posting about Dr. Onder’s campaign. For any Missouri Mittheads that may read this, there are many ways that you can get involved at the grassroots level.

~~John Cronin~~

http://www.bobonder.com/home.html

Economic Conservative
• Continue the Bush Tax Cuts
• Hold the line against Liberals in Washington who want to raise our taxes
• Reduce our dependence on foreign oil to bring down the cost of gas here at home
• Continue Kenny Hulshof’s crusade to kill the Death Tax to protect family farms and businesses in the 9th District

As a small businessman who employs 12 people, Dr. Onder knows what it takes to set and keep a budget. He does it at his medical practice and at the kitchen table with his wife, Allison, as they look out for their children’s future.

Social Conservative
• Supports a Constitutional Amendment to define marriage as between one man and one woman
• Supports a Constitutional Amendment to make English the official language of the United States, as he did in the Missouri state legislature
• Supports the death penalty
• Has been a Life Member of the National Rifle Association since he was 17
• Believes that life begins at conception and will fight for the rights of the unborn, as he did in the Missouri state legislature

As a father of six and a committed husband of 13 years, Dr. Onder is a family man first and foremost. He will stand up to Liberals who want to destroy marriage and cheapen the sanctity of human life.

Dr. Onder will fight for our conservative values in Washington.

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Congressman Mike Pence of Indiana

In keeping with my goal of doing what I can to help elect conservatives to Congress, I’d like to ask our readers, especially those who live in Indiana, to check out Mike Pence’s positions on the issues that are important to us.

I have spent some time on Congressman Pence’s website and he is another member of the legislature who is rock solid on the hot button issues that turn out the base. I am still very much getting up to speed on Mike Pence and don’t claim to know much right now, but he seems to be pitch perfect on the immigration issue.

Below are a couple of quotes from his website.

~~John Cronin~~

http://mikepence.house.gov/

Immigration

Securing the Borders and Reforming Immigration Without Amnesty

“Our plan puts border security first and cracks down on those who knowingly hire illegal workers, but it also recognizes the need for a temporary worker program that operates without amnesty and harnesses the power of the private sector to avoid creating a huge new government bureaucracy.”
-Sen. Kay Bailey Hutchison and Rep. Mike Pence
July 25, 2006

Securing the Borders First:

• The number one priority of any serious attempt at immigration reform must be a comprehensive and successful effort to secure the borders of the United States. Such an initiative must precede—not follow—the implementation of a temporary worker program. The border security initiative must include comprehensive surveillance that utilizes personnel and technology; infrastructure improvements including fences; checkpoints; detention facilities; judicial support; and deployment of additional Border Protection and Drug Enforcement personnel.

• This plan adopts the strongest provisions of the House and Senate-passed bills and addresses unlawful entry of terrorists and instruments of terror, undocumented immigrants, narcotics and human trafficking.

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Attention: Northeastern Mittheads

Just wanted to give our fellow Mittheads in the Northeast a heads up on a campaign appearance by Jeff Beatty. He is running against the entrenched and far left Senator John Kerry. Let’s do everything we can to help elect conservatives to Congress so we can help put the brakes on the accelerating lunge to the left that the country has taken in the last several years.

Jeff Beatty is a former Delta Force member and a Purple Heart winner. He is pro life, pro border law enforcement and is a gleeful tax cutter. Please visit his website at WWW.JEFF BEATTY.COM and get involved with his campaign.

~~John Cronin~~

Middlesex County & Framingham RTC Spring Fling
Date:
April 26, 2008
Time:
8:00-10:00 am
Location:
Nobscot Café, 847 Edgell Rd, Framingham, MA 01701

The
Middlesex County Republican Club
And
Framingham Republican Town Committee
Host a
Spring Fling with Republican Candidates
April 26, 2008
8:00-10:00 am

Nobscot Café, 847 Edgell Rd, Framingham, MA 01701
Meet Republican candidates and have a great breakfast
For $10.00 per person

To RSVP send your checks made payable to:

Framingham Republican Town Committee to PO Box 773 Framingham, MA 01701 on or before April 22, 2007

E-mail questions or comments to Ed McGrath at mcgrathed@rcn.com or call Ed at 508-820-0696

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McCain Vows to Slash Pentagon, Federal Spending

I don’t know the details of Sen. McCain’s proposed cuts on military spending, but my first reaction to any military funding cuts is one of caution. In a time of war when we saw our combat soldiers lacking body armor in the early days of the Iraq war, I am not eager to jump on the band wagon for cutting the armed force’s budget. Having said that, the talk of cutting federal spending is very welcome, indeed. What better way to reinvigorate the American economy than to put spending power back into the hands of the public at a time when all signs point to a looming recession.

What I have heard coming out of the McCain camp is sounding better and better as time goes on. I know I am biased, but I can’t help but wonder if Gov. Romney and the rest of the stalwart budget hawks in the Republican wing of the Republican Party are influencing fiscal policy within the McCain circle. Heres hoping so!

~~John Cronin~~

http://blog.washingtonpost.com/the-trail/2008/04/20/mccain_vows_to_slash_pentagon.html

By Zachary A. Goldfarb

Presumptive Republican nominee Sen. John McCain (Ariz.) pledged Sunday to cut billions of dollars in defense spending, vowing to be special interests’ “worst nightmare,” and aimed to dismiss suggestions that he has an explosive temper.

McCain said on ABC’s “This Week” that he would seek to eliminate the federal budget deficit by cutting spending throughout government. The Pentagon drew special emphasis.
“I am cutting billions and billions out of defense spending which are not earmarks,” he said

.

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Participatory Democracy

Super Tuesday II has come and gone and Sen. McCain has clinched the Republican Presidential nomination. Clinton and Obama continue their internecine warfare for the Democratic nod and, thankfully, Pastor Huckabee is finally out of the race.

As we look at the political landscape, what policies do the remaining candidates offer and are we satisfied that conservatives will be represented in the administration of whoever the winner of the general election is? I think the obvious answer is no.

I will be the first to acknowledge that Sen. McCain is the most conservative of the three remaining candidates. He will prosecute the Iraq war successfully and for that I am grateful. I think he will remain a budget hawk as well. I remain skeptical about his commitment to immigration law enforcement and I am not convinced he will nominate another Roberts or Alito to the SCOTUS.

Both Senators Clinton and Obama are so far left that I honestly worry about the future of the country if either of them win. Clinton’s husband decimated the military during his tenure in office and Hillary will do the same in order to fund the “million ideas” she has for the country, all of them involving federal spending. Obama has already promised to cut “tens of billions of wasteful spending” from the armed forces’ budget. This is also the man who voted “present” 130 times while in the Illinois legislature, but did manage to vote “No” on a bill designed to require medical care be given to a baby born live after a botched abortion.

Those of us on this site remain Mitt Romney partisans, but MR isn’t in the race to represent our interests in this election cycle. That is why I titled this post “Participatory Democracy”. If many of our interests are to be represented this Fall, it will be because we, through our participation in the democratic process, see to it ourselves.

If Mitt was still in the race, I wouldn’t worry about the military. MR wasn’t talking about gutting their budget, he was talking about raising it back up to historical levels. If Mitt were still in the race, I wouldn’t worry about Supreme Court judges or the abortion issue. If Mitt were still in the race, I wouldn’t worry about illegal immigration……But, he’s not.

So, where do we go from here? To Congress. You always start at the top (the presidency) and if that fails, you go down one notch to the legislative branch. As conservatives, it is incumbent on us to remain more involved in the political process than ever. We will not automatically be represented on our hot button issues as we once might have been. Now it is our responsibility to do everything we can to promote conservative principles at the Congressional level, so that we can influence the policy initiatives and the spending levels of the next administration. If it is Clinton or Obama, we are going to have our hands full for the next four years. I say for the next four years and not for the next eight years, because I believe that either one of them will inspire massive buyer’s remorse and that the electorate, after suffering under their wrong headed policies for four years, will have the same reaction to them as it had to Jimmie Carter after his four feckless years in power.

If it is McCain, we will have to be ready to shut down any future amnesty proposals, just like we shut the last one down in the summer of 2007. We have to be sure we let our representatives in Congress know how we feel about the issues and that we are paying attention.

These politicians are very good at counting votes and they know that the body politic is split right down the middle. Any strong stance they take is automatically going to anger about half of their constituency, so they have to know that we have their backs or they will cave to the special interest groups.

Presidential politics, to me, is the most fun. Congressional politics is mostly just hard work, but if we disengage from the process, the liberals will be pleased to craft the legislation for us. You can just use your imagination to envision what they will come up with.

Let’s stay involved during the course of the next four years. Let’s continue to monitor the activities of the U.S. Congress so that we will have a vibrant, powerful, informed and united conservative wing of the Republican Party, ready to assume power in four years, with Mitt Romney as our standard bearer in 2012!

~~John Cronin~~

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Is John McCain Facing A Landslide Loss Of McGovern Proportions?

Many of our readers are no doubt too young to remember Senator George McGovern. He was a radical anti-war Democrat (anti-Vietnam war) who plied his nefarious trade during the 1970’s. He has, thankfully, not been an elected official since 1981. He was so far out of the mainstream of American politics that he richly earned the distinction of suffering the second worst electoral defeat in American history. And yet he somehow won his party’s nomination. Is this story starting to remind you of anyone?

John McCain’s support of the illegal immigration amnesty bill last summer angered Americans more than any one thing that I can remember. Have we collectively forgotten our anger at this man and his attempt to ram this bill through the Senate with no public hearings and virtually no debate? Have Evangelicals forgotten that he referred to some of their leaders as “agents of intolerance?” McCain claims that he will appoint “strict constructionist” judges to the SCOTUS and yet he criticized Justice Alito for “wearing his conservatism on his sleeve.” You know what, Senator McCain? I like people who wear their conservatism on their sleeves.

He claims to be pro life, but his McCain/Feingold anti-free speech legislation has hindered groups like the National Right to Life Committee in their efforts to get their message out. I don’t want someone as the Republican party’s standard bearer who simply tries to “talk the talk”, I want someone who “walks the walk”. And McCain ain’t that someone.

Because our fellow conservatives have been asleep at the wheel, because the primaries were moved up months earlier than customary, because Indies and Dems get to pick Republican candidates in open primaries, because the MSM will prop up anybody who will help them further their liberal agenda and trash anyone (Reagan in 1980, Romney in 2008) who dares to champion conservative principles, we now appear to have, as our presumptive nominee, John “Open Borders” McCain who may well prove to be the Republican party’s version of George “Landslide” McGovern.

Below is some information from WIKEPEDIA that illustrates what happens to politicians who stray too far from the beaten path.

~~John Cronin~~

In the general election, the McGovern/Shriver ticket suffered a 60%-38% defeat to Nixon — at the time, the second biggest landslide in American history, with Electoral College totals of 520 to 17. McGovern’s two electoral vote victories came in Massachusetts and the District of Columbia; McGovern failed to win his home state of South Dakota, a state that had delivered for the Democrats in only three of the previous 18 presidential elections in the twentieth century[9]. In his telegram to Nixon conceding defeat, McGovern wrote, “I hope that in the next four years you will lead us to a time of peace abroad and justice at home. You have my full support in such efforts.”[10]

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