
 |
|
March 12, 2010
JWisdom.com Manufacturing mediums
with Rabbi Sroy Levitansky (4 minutes)
Glenn Garvin: Conspiracy theories, why people believe them and how they spread
JWisdom.com For Yourself, Not By Yourself
with Rabbi Lawrence Hajioff (8 minutes)
Paul Richter: Biden promises 'viable Palestine' is in the offing
March 10, 2010
JWisdom.com How To Get A (Real) Life
with Rabbi Warren Goldstein ( EXTENDED EPISODE)
Paul Richter: Israel exerts soverign right to its capital as Biden looks on astounded
March 9, 2010
JWisdom.com Free To Be (Responsibly) You and Me!
with Rabbi Naftali Brawer ( 8 MINUTES)
David G. Savage: Supreme Court to rule on free speech in case of soldier's funeral
March 8, 2010
JWisdom.com Finding or Losing Yourself? Here's How!
with Rabbi David Aaron ( 5 MINUTES)
Steven Emerson: America must learn from the UK about the future of Islamist subversion
March 5, 2010
JWisdom.com The Limits of Eternity
with Rabbi Sroy Levitansky ( 4 MINUTES)
March 4, 2010
JWisdom.com Using Things, Loving People
with Rabbi Lawrence Hajioff ( 7 MINUTES)
March 3, 2010
JWisdom.com Grasping The Name of Your Life Game
with Rabbi Warren Goldstein ( 8 MINUTES)
March 2, 2010
March 1, 2010
JWisdom.com Whole in One
with Rabbi David Aaron ( 5 MINUTES)
Michael Muskal: Hillary meets with Israeli official, discusses gefilte fish dispute
Feb. 26, 2010
JWisdom.com A Biblical Secret for a More Powerful You
with Rabbi Sroy Levitansky ( 5 MINUTES)
Feb. 25, 2010
JWisdom.com The Second Most Important Question in Your Life
with Rabbi Yehoshua Karsh ( 5 MINUTES)
Seema Mehta : U.S.-Israel relations raised in California's Senate race --- by conservatives
Feb. 24, 2010
Feb. 23, 2010
JWisdom.com The Last Laugh of Enlightenment
with Rabbi Yaakov Asher Sinclair ( 5 MINUTES)
Feb. 22, 2010
JWisdom.com Esther and the third Truth with Rabbi David Aaron ( 9 MINUTES)
Feb. 19, 2010
JWisdom.com Olympic Faith
with Rabbi Sroy Levitansky ( 5 MINUTES)
Caroline B. Glick: Israel and the West are perpetrators of a myth that endangers the Jewish State
Feb. 18, 2010
JWisdom.com A Wedding Disaster to Remember
with Rabbi Y.Y. Rubinstein ( 3 MINUTES)
Feb. 17, 2010
JWisdom.com Think your life is messed up?
with Rabbi David Aaron ( 11 MINUTES)
Greg Logan: 'Greatest Jewish sporting event of all time since David versus Goliath' may be postponed because of bar mitzvah
Feb. 16, 2010
JWisdom.com Feet On The Street Spirituality
with Gavriel Aryeh Sanders ( 8 MINUTES)
Marty Peretz: Let Europe Mind Its Own Business. It Brings Nothing To The Table Save For Mischief
Feb. 15, 2010
JWisdom.com Are Our Children Really Ours?
with Rabbi Mordechai Becher ( 5 MINUTES)
Susan King: 'Wolf Man' reflected writer's wartime Jewish experience
|
| |
Jewish World Review
May 14, 2009
20 Iyar 5769
Tincture of Lawlessness: Obama's Overreaching Economic Policies
By
George Will
| 
|
|
|
|
http://www.JewishWorldReview.com |
Anyone, said T.S. Eliot, could carve a goose, were it not for the bones. And anyone could govern as boldly as his whims decreed, were it not for the skeletal structure that keeps civil society civil the rule of law. The Obama administration is bold. It also is careless regarding constitutional values and is acquiring a tincture of lawlessness.
In February, California's Democratic-controlled Legislature, faced with a $42 billion budget deficit, trimmed $74 million (1.4 percent) from one of the state's fastest-growing programs, which provides care for low-income and incapacitated elderly people and which cost the state $5.42 billion last year. The Los Angeles Times reports that "loose oversight and bureaucratic inertia have allowed fraud to fester."
But the Service Employees International Union collects nearly $5 million a month from 223,000 caregivers who are members. And the Obama administration has told California that unless the $74 million in cuts are rescinded, it will deny the state $6.8 billion in stimulus money.
Such a federal ukase (the word derives from czarist Russia; how appropriate) to a state legislature is a sign of the administration's dependency agenda maximizing the number of people and institutions dependent on the federal government. For the first time, neither sales nor property nor income taxes are the largest source of money for state and local governments. The federal government is.
The SEIU says the cuts violate contracts negotiated with counties. California officials say the state required the contracts to contain clauses allowing pay to be reduced if state funding is.
| FREE SUBSCRIPTION TO INFLUENTIAL NEWSLETTER |
| Every weekday NewsAndOpinion.com publishes what many in the media and Washington consider "must-reading". HUNDREDS of columnists and cartoonists regularly appear. Sign up for the daily update. It's free. Just click here. |
|
Anyway, the Obama administration, judging by its cavalier disregard of contracts between Chrysler and some of the lenders it sought money from, thinks contracts are written on water. The administration proposes that Chrysler's secured creditors get 28 cents per dollar on the $7 billion owed to them but that the United Auto Workers union get 43 cents per dollar on its $11 billion in claims and 55 percent of the company. This, even though the secured creditors' contracts supposedly guaranteed them better standing than the union.
Among Chrysler's lenders, some servile banks that are now dependent on the administration for capital infusions tugged their forelocks and agreed. Some hedge funds among Chrysler's lenders that are not dependent were vilified by the president because they dared to resist his demand that they violate their fiduciary duties to their investors, who include individuals and institutional pension funds.
The Economist says the administration has "ridden roughshod over [creditors'] legitimate claims over the [automobile companies'] assets. . . . Bankruptcies involve dividing a shrunken pie. But not all claims are equal: some lenders provide cheaper funds to firms in return for a more secure claim over the assets should things go wrong. They rank above other stakeholders, including shareholders and employees. This principle is now being trashed." Tom Lauria, a lawyer representing hedge fund people trashed by the president as the cause of Chrysler's bankruptcy, asked that his clients' names not be published for fear of violence threatened in e-mails to them.
The Troubled Assets Relief Program, which has not yet been used for its supposed purpose (to purchase such assets from banks), has been the instrument of the administration's adventure in the automobile industry. TARP's $700 billion, like much of the supposed "stimulus" money, is a slush fund the executive branch can use as it pleases. This is as lawless as it would be for Congress to say to the IRS: We need $3.5 trillion to run the government next year, so raise it however you wish from whomever, at whatever rates you think suitable. Don't bother us with details.
This is not gross, unambiguous lawlessness of the Nixonian sort burglaries, abuse of the IRS and FBI, etc. but it is uncomfortably close to an abuse of power that perhaps gave Nixon ideas: When in 1962 the steel industry raised prices, President John F. Kennedy had a tantrum and his administration leaked rumors that the IRS would conduct audits of steel executives, and sent FBI agents on predawn visits to the homes of journalists who covered the steel industry, ostensibly to further a legitimate investigation.
The Obama administration's agenda of maximizing dependency involves political favoritism cloaked in the raiment of "economic planning" and "social justice" that somehow produce results superior to what markets produce when freedom allows merit to manifest itself, and incompetence to fail. The administration's central activity the political allocation of wealth and opportunity is not merely susceptible to corruption, it is corruption.
Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.
George Will's latest book is "With a Happy Eye but: America and the World, 1997-2002" to purchase a copy, click here. Comment on this column by clicking here.
Archives
© 2006 WPWG
|
|

Arnold Ahlert
Mitch Albom
Michael Barone
Dave Barry
Tony Blankley
Andy Borowitz
David Broder
Stratfor Briefing
Mona Charen
Linda Chavez
Ann Coulter
Greg Crosby
Larry Elder
Suzanne Fields
John Fund
Frank J. Gaffney
Lloyd Garver
Jonah Goldberg
Julia Gorin
Jonathan Gurwitz
Paul Greenberg
Lewis Grossberger
Victor Davis Hanson
Froma Harrop
Betsy Hart
Nat Hentoff
David Horowitz
Laura Ingraham
Cheri Jacobus Jeff Jacoby
Paul Johnson
Jack Kelly
Ed Koch
Ch. Krauthammer
Michael Ledeen
John Leo
David Limbaugh
Kathryn Lopez
Rich Lowry
Michelle Malkin
Jackie Mason
Dick Morris
Bill O'Reilly
Jim Mullen
Clarence Page
Kathleen Parker
Dennis Prager
Wesley Pruden
Tom Purcell
Jonathan Rauch
Celia Rivenbark
Robert Robb
Cokie & Steve Roberts
Pat Sajak
Debra J. Saunders
Culture Shlock
Roger Simon
Michael Smerconish
Thomas Sowell
Mark Steyn
John Stossel
Cal Thomas
Bob Tyrrell
Diana West
Dave Weinbaum
George Will
Walter Williams
Byron York
Mort Zuckerman

Robert Arial
Chuck Asay
Baloo
Chip Bok
Dry Bones
Lisa Benson
John Branch
Gary Brookins
John Cole
J. D. Crowe
John Deering
Brian Duffy
Everything's Relative
Mallard Fillmore
Jake Fuller
Bob Gorrel
Joe Heller
David Hitch
Jerry Holber
Steve Kelley
Jeff Koterba
Dick Locher
Chan Lowe
Ranan R. Lurie
Jimmy Margulies
Rick McKee
Michael Ramirez
Kevin Siers
Jeff Stahler
Ed Stein
Danna Summers
John Trever
Gary Varvel
Kirk Walters

How 2
Lori Borgman
Elder matters
Fixit
Dr. Peter Gott
GET A JOB! by Marty Nemko
Richard Lederer
Tech Maven
Every Monday Matters
Nutrition Myths
Bookmark These
Bruce Williams
How Stuff Works
|