Connecticut: "Penny-wise(?), pound-foolish"

8/2/09 update re Wall Street excessive payouts: Article by Zeke Miller And Eric Gershon, The Hartford Courant: http://www.courant.com/business/hc-wall-street-bonuses-connecti.artaug02,0,6464390.story

(Original post follows:)

Link to today's (7/31) story in the New York Times, about huge bonuses being paid to thousands of Wall Street bankers and traders in 2008: http://www.nytimes.com/2009/07/31/business/31pay.html?partner=rss&emc=rss

And here's another link to an 7/30/09 AP article about states cutting important health care programs for budget reasons. (Connecticut is prominently featured.) http://www.google.com/hostednews/ap/article/ALeqM5isFa8Z14ZU7_1FdxV0gzofRplSOgD99OAHFO6

It so happens that my recalcitrant Republican Connecticut state representative wrote to constituents yesterday. Our area's compassionate-less conservative, in part wrote subjects the following:

(Your Party of No state rep.) "....today voted against the largest proposed tax hike in state history, contending that another Democratic spending spree will only further cripple any economic recovery." (BTW: No one anywhere expected the budget versions voted upon on Thursday would become law. So this would pretty much (again) be my "Party of No New Revenue Ideas" state rep. posturing on the issue, for those willing and able to swallow it.)

CT's "Party of No" current plan: Tax "Joe Six-pack"'s sins to death, cut his health care options at the time he'll be needing it most, cut state economic development agencies, let greedy, Fairfield County-residing Wall Street "masters of the universe" 'walk' on state taxes (on top of Bush fed. tax cuts) - in some cases after they/their firms helped manufacture a worldwide credit/financial crisis (and then got shored up/bailed out by taxpayers); and be sure to look the other way as state businesses continue to exploit tax loopholes, slash employee benefits, lay off resident workers, ship in foreign "consultants", and re-locate key operations overseas.



"Earth to Recalcitrant CT Republicans": If they want to continue to work in Manhattan (or Stamford), where are these "Wall Street wizards" going to "run away" to live? A modest increase in high-earner taxes here still leaves us below nearby New York and New Jersey in this respect, from what I've read. So, the "geniuses" will (instead) make their principal residence in Florida....and "commute"? Good luck with sustaining that family arrangement over time.....(Quality of life: It's (even more) hot and rainy down in Florida. Plus the mansions there are more likely to get blown away by the annual hurricanes. Try looking at Sun Belt crime statistics some time, too.)

Please wake up. Get real. And have the courage to seriously consider the following:

Revenue for state roads and bridges (beyond federal help and beyond the gas tax): Reinstitute highway tolls at state borders. Give every driver/trucking firm you can find an electronic toll transponder (i.e., mass-distribute at low cost).

Make numerous out-of-staters pay something back for use, just as Mass., N.Y., N.J., and 30 other states do now.

Fuel efficient vehicles are coming. Already-raided gas tax revenue can't do it all.

Also, why wouldn't a sales tax rate reduction/coverage expansion proposed by these two individuals be worth considering? Link to Courant 7/12/09 opinion article:

http://www.courant.com/news/opinion/hc-commentaryjepsen0712.artjul12,0,5849137.story

CT: Now that we've postured and had our tantrums...

Sorry for another 'rant' here lately, but significant topics just keep presenting themselves:

Re the following news update today involving Connecticut's governor and the state's budget impasse: Please grow up. Get real. Whatever.


Link to AP story: http://www.wfsb.com/money/20215571/detail.html


Only three states still haven't found a way to deal with the worst fiscal crisis in years. Yep, the Connecticut brigade of "The Party of No" has dug in to (mainly) hold up progress here....for months. (I.e., Yes, it's been mostly Republicans, despite the use of (the ass) image below...) Their beleaguered base of still-wealthy-but-penny-pinching, employee-jettisoning businesses, and super-rich Fairfield County moguls.... just can't possibly stand any type of small tax increase. You know, to do a tiny (relative) bit of their share in real-world society, and work it out with the rest of us "losers". It's all too much for the Greenwich and Stamford upper-crust to bear. And why the heck should these "masters of the universe's"....anyway? After they've clawed and scratched their way to the top, so much better than the rest of us "wimps"? Don't mind that some of the same helped engineer/drive the recent worldwide financial meltdown. (But seem to still somehow retain that mansion, 2nd mansion in the Hamptons, etc, etc.)

Like others, I understand that any final resolution will not be perfectly fair to every single Connecticut resident. Like others, I also understand (and remember) that taxes needed to be instilled/increased as part of the overall solution, during the last two economic recessions (in CT). And like others, I responded to my state rep. and asked that he and his colleagues try to put fairness (to as many residents/taxpayers as possible) first, and to compromise.

Instead, constituents got ideological posturing. Then more posturing. Then protracted posturing.

No state budget. No meaningful compromise. Just services and programs cut and then cut again.

http://images.google.com/hosted/life/l?imgurl=ef68cf1eaccd59b0&q=mule%20source:life&prev=/images%3Fq%3Dmule%2Bsource:life%26ndsp%3D20%26hl%3Den%26sa%3DN%26start%3D20

At this ridiculously late date, it's unprincipled. It's immoral. It's garbage.

So we'll see what they all try to pull next. ("They": Read... recalcitrant Republican leadership.)

Thanks to those brave ones for reading this far. I certainly don't want to write anymore (or any more) about this garbage....

P.S. As previously suggested, what about reinstituting highway tolls at state borders? Low- or no-cost electronic toll transponders could be mass-distributed, which may alleviate traffic backups. And many out-of-staters ripping through CT would (then) be paying for the privilege....I thought that (ideas such as this) constituted "smart revenue source management" nowadays.....

Wait...Using our no-equity McMansion as an ATM was imprudent?

"Well ah'lll beee...."

Link to an interesting blog entry by Nick Timiraos in today's (7/28/09) Wall Street Journal: http://blogs.wsj.com/developments/2009/07/28/study-finds-underwater-borrowers-drowned-themselves-with-refinancings/

The study cited was limited to foreclosures in southern California, but I'll bet your third lien\fifth lender\sixth servicer re-fi that it occurred in other areas of the country, too: "More than half of all borrowers who lost their homes had already refinanced at least once, and four out of five had a second mortgage."

Further (from the WSJ posting), borrowers (in the study) took out around $2 billion in equity from their homes, nearly eight times the $262 million that they put into their homes.

In other words, many borrowers (in this study) sunk themselves, via their own (imprudent, if not reckless) behavior. (I.e., Versus buying (a house) at the "wrong time", e.g., the top of the market.)


Photo: http://images.google.com/hosted/life/l?imgurl=49aa5c008c4c36da&q=slum%20source:life&prev=/images%3Fq%3Dslum%2Bsource:life%26ndsp%3D18%26hl%3Den%26sa%3DN%26start%3D144

Personal responsibility. Accountability for one's actions. Oh.... and plus: Caveat emptor. "Read the fine print". Etc., etc. Prudent behaviors adhered to by some, as amazingly old-fashioned as that was in the past decade or so. ....Seemingly tossed aside.....by other Americans.

And those left standing are now forgiving/subsidizing these "adults"? Some of whom were avaricious fools? (Others just plain old avaricious....(last paragraph, via link)).

An answer was offered months ago: http://heymrpotter.blogspot.com/2009/03/should-realize-that-everyone-is-in-same.html

Hang up and drive!

When will police start enforcing this violation, the latest evidence of which is included via this link?? Distracted Driving Research Withheld

Despite withheld reports, common sense dictates that distracted drivers are a "bad thing" for everyone. When will lawmakers really wake up to this....? Perhaps when a few of their own friends or family members are slammed into by texting/talking/eating/Twitter-ing/ air-heads??


The Connecticut "vanity" plate pictured is currently available. If you live here, go get it.
Before I do.

Oh...here's another one available around these parts:


(http://www.urbandictionary.com/define.php?term=TTYN&defid=3345336)

10 MORE reasons why Sarah quit:

Shhhh... this is a secret list. So we don't get in trouble with Ms. Palin's people.

And perhaps some good will come out of this.... As she goes on to lead her off-world colony....

Sarah's 10+ reasons:

10. Hey, we're quittin' in Iraq too. What's the problem?

9. Cheney called: Wants less vigilance on Russia from here. He's alerting the media about Obama's weak Wasilla security.

8. Entrepreneurial spirit. "Perfect Nails of Wasilla/Lake Lucille", opening soon!

7. Guns and religion: More cling time.

6. Announced on July 3rd, date of the end of Civil War's Battle of Gettysburg. See, they quit too!

5. Obama stayed on as Senator during his 2008 run, and just look at him today....

5a. Ran most state business through personal email. Pretty much plan to continue, without silly title or pesky scrutiny.

4. Talk radio! I can do that! I talk!

3. Wolves on the run in Alaska. AK-47s loaded, flying the Piper Cub on to the lower 48.

2. Anchorage Burlington Coat store just not cutting it. Plus they have apparent "no looting" policy.

1. Time to build up national third party, 2012: "Independence from taxes and nothing else complicated."

Extra bonus list item. A new, higher calling: To work with The Museum of Alaska Transportation and Industry (Wasilla,AK) "...to give a home to the transportation and industrial remnants and tell the stories of the people and the machines that opened Alaska to exploration and growth."

(Photo credit: Pfc. Christopher Grammer, 50th Public Affairs Detachment."This image is a work of a U.S. Army soldier or employee, taken or made during the course of the person's official duties. As a work of the U.S. federal government, the image is in the public domain.")

Still the worst storms I've ever seen: 7-4-1969 Ohio "fireworks" derecho

Described via the link below are the worst storms that this long-time resident of (often) poor-weather regions has ever experienced. Even to date. That's having been through a couple of hurricanes in Connecticut, plus the blizzard of 1978, 1991's "Perfect" storm, 1993's "Storm of The Century", etc. (FWIW, the '78 blizzard could be a "tie", with its duration and snow/wind.) And also having been not too far south (luckily) of Xenia, OH, during the 1974 "super outbreak" of tornadoes. (All through the midwestern and southern U.S.).

This Michael Heaton story from the 7/2/09 Cleveland Plain Dealer describes the storm I was part of very well. Especially in the Lakewood (OH) park that lost many large trees, had fatalities, etc. It was July 4th, 1969 and many people were outside, gathering for fireworks, etc. Numerous pleasure craft were out on Lake Erie.

Here's a quick copy and a link to the NOAA (.gov) page that recounts the derecho (link to more information) which caused much destruction and flooding throughout northern Ohio and into western PA. (Click on the picture for more details) :


"This image is a work of the National Oceanic and Atmospheric Administration, taken or made during the course of an employee's official duties. As works of the U.S. federal government, all NOAA images are in the public domain."
I'll leave most of the rest to the Michael Heaton story. However, a little additional perspective for anyone interested: As indicated, there was little official warning. I was a kid in a suburb a couple of towns to the west of Lakewood. The northwestern sky quickly turned dark gray/black and you knew something unusually nasty was coming fast. The warm, humid air suddenly got cooler as the wind rapidly picked up.

My dad herded us disaffected youth (watching all of this unfold) inside, and we shortly proceeded to witness ten or so minutes of everything going to hell. Our house and neighborhood was a newly built subdivision, so (of course) many large trees had been removed. (Why do they always do that...denude an area for new houses?) But some mature trees remained, especially in our yard and our next-door neighbors'. Never seen by me before or since: Unbelievably fierce winds bent large, 40-50 foot deciduous trees over near the ground at moments. And, as often described, these prolonged gusts roared at times like a freight train. (Though it was subsequently determined that what occurred was not a tornado.) Our new house and windows shook. Sheets of rain; driven sideways.

Figure 2. Radar imagery (reflectivity) observed by the DECCA radar near Akron, Ohio at 8:30 PM EDT on July 4, 1969. (From Hamilton 1970)

A radar in Akron, Ohio observed a "bowed" echo about 35 miles northwest of the radar site at 8:30 PM on the evening of July 4th (Fig. 2). This bow echo was associated with the deadly derecho winds in the Cleveland area and was one of the first radar "bow echoes" to be documented.

(Reference......Hamilton, 1970; Storm Data for July 1969).

As noted, everything was over in about 10-15 minutes for us though you didn't know that immediately. (No power, plus no Weather Channel around anyway.) Almost all houses that had large trees on the streets around us lost at least one. We had two large, double-trunk trees crack and fall on top of other ones. (A neighbor actually ran outside to another house during the height of this to check on his daughter, and he said (later; having survived) that our trees cracking sounded like loud rifle shots.) After seeing them bent over, I remember being surprised that ALL of these trees weren't down. Though lightning still played in the dark sky for hours after, I remember everyone from all of the houses being outside afterward, and just kind of walking around the nearly dark streets looking at the damage. I think most were kind of stunned. It was surreal, especially with the lightning flashes all over the sky for quite a while. And it was still raining off and on, too.

Obviously we were fortunate that it wasn't worse (photo below). Derechos: Advanced weather technology is in place today, but you still never want to observe one of these racing your way. Or be part of one, if possible. It's one reason that I try to "do my part" today, as a Skywarn severe storm spotter.


(Xenia, OH 1974 tornado. As stated at http://www.weather.gov/disclaimer.php:"The information on government servers are in the public domain, unless specifically annotated otherwise, and may be used freely by the public....".)