First Signs of Stupidity

I posted yesterday about the futility of our security measures.  Right on cue, the city of Indianapolis and the Indian Pacers are doing the following: (H/T Reason.com)

The Indiana Pacers, after consulting with the Department of Homeland Security, will remove all trash cans outside of Bankers Life Fieldhouse for all events, said Greg Schenkel, vice president of public relations for the Pacers.

This will reduce the chance of terrorism at a Pacers game by exactly zero.  Meanwhile, you have to believe that those trashcans served a purpose.  Will a build up of trash obscure a small package of poison powder that would have been noticed and contained if a trashcan had been present?  Gestures of futility just inconvenience ourselves and do nothing to fight terrorism.  

Bruce Schneier has a nice article about fighting terrorism based on movie plots and the last attack.

Terrorists don't care if they blow up subways, buses, stadiums, theaters, restaurants, nightclubs, schools, churches, crowded markets or busy intersections. Reasonable arguments can be made that some targets are more attractive than others: airplanes because a small bomb can result in the death of everyone aboard, monuments because of their national significance, national events because of television coverage, and transportation because most people commute daily. But the United States is a big country; we can't defend everything.

Kos and His Delusions

I have an account at DailyKos, which I haven't used in ages. I have been occasionally able to get them to rethink their support for some of Obama's positions. But lately they have just lost it, Markos himself posted the following cartoon, which isn't even funny. How childish can you get?

The Tea Partyers I know don't really care about gay marriage, less than half are active Christians, (even if I wish they all were), and I have never seen a hint of violence at a Tea Party rally. I know that I shouldn't have to say this, but occasionally we have to push back on this stupidity and hold it up for the ridicule it deserves.

Unlimited Liability for US at Fannie, Freddie

The Wall Street Journal editorial pages alerted us to yet another example of how executive branch, in cahoots with Democrat congressman are subverting any pretense at rule of law or limits on liability for Fannie Mae and Freddie Mac. The full article is worth a read, but here are some highlights.

On Christmas Eve, the Treasury lifted the $400 billion cap on potential losses as well as limits on what they can borrow. Dennis Kucinich is calling for an investigation. Dang, when Dennis Kucinich is the voice of reason, .... just can't finish that.

Think these companies are supposed to make money and be nursed back to health? Wrong, they have been directed to modify mortgages to prevent defaults, a sure money loser.

Fannie and Freddie will not be required to shrink the portfolio of mortgages they hold in their own account. This will allow them to re-inflate the housing bubble to aid elections in 2010.

Fannie and Freddie execs are exempt from pay caps at other banks in receipt of federal largess. Their HR director made $2.7 million.

Senator Chris Dodd that maven of banking rectitude (and number on Judicial Watch's list of 10 Most Corrupt Politicians, congrats) is of course omitting Fannie and Freddie from his "reform" goals for the banking industry. But now he has Republican cover from Senator Richard Shelby (R-ALgore level blindness to facts).

More zombie capitalism from the feds, emulating the Japanese.

Stupid Editorial Headline of the Week

Goes to Arne Duncan, Secretary of Education, for this doozy:

Banks Don't Belong in the Student Loan Business

Because it turns out that the government would be so much more efficient at this task. For reals, that's his argument, because banks make a profit, the government could perform the role cheaper. Then he turns around and states that the government will outsource the servicing of loans anyway.

Along the way he distorts the fact that colleges switched to direct loans from the feds under extreme arm twisting from the Department of Education.