A place on the web to preserve our family history! Email stanmoffat@gmail.com for details or information, etc. This a work in progress...
Tuesday, November 25, 2008
Paul's Elk Hunting Photos ...
obama hussein appointed Geithner to head his econ. team... wow... where was he when things went south??
President-elect Barack Obama unveiled on Monday an economic team with deep experience handling economic crises. But does the man at the center of this star-studded cast, Timothy Geithner, the nominee for Treasury secretary, have the chops to take the nation in a new financial direction?
That is what a number of Wall Street chieftains are quietly asking, even after the stock market surged with relief after his nomination.
One reason Obama gave for nominating Geithner was his "unparalleled understanding of our current economic crisis, in all of its depth, complexity and urgency." More important, he suggested, "Tim will waste no time getting up to speed. He will start his first day on the job with a unique insight into the failures of today's markets and a clear vision of the steps we must take to revive them."
Geithner is clearly a 47-year-old wonder boy.
A graduate of Dartmouth, he has a master's degree from the Johns Hopkins School of Advanced International Studies, did a turn with Henry Kissinger's consulting firm, a stint in the Clinton administration and, for the last five years, has been the president of the Federal Reserve Bank of New York.
He will effectively lead the team Obama has chosen to mend a crippled economy. That's important because they won't just be debating economic theory they will be making deals Wall Street-style, negotiating billion-dollar bailouts and restructuring entire industries on behalf of their client, the taxpayers.
But Geithner's involvement in several ultimately ill-fated efforts to buttress the American financial system is the very reason some Wall Street CEO's a number of whom spoke on the condition of anonymity for fear of piquing the man who regulates them question whether he's up to the challenge.
"We have only two things to say about Tim Geithner, who we do not know: AIG and Lehman Brothers," said Christopher Whalen of Institutional Risk Analytics. "Throw in the Bear Stearns/Maiden Lane fiasco for good measure," he said, referring to the site of the New York Federal Reserve, where many rescue discussions took place.
"All of these 'rescues' are a disaster for the taxpayer, for the financial markets and also for the Federal Reserve System as an organization. Geithner, in our view, deserves retirement, not promotion."
Ouch.
"He was in the room at every turn of the crisis," said another executive who participated in several such confidential meetings with Geithner. "You can look at that both ways."
While Henry Paulson Jr., the current Treasury secretary, has taken a drubbing for the changeable nature of the government's efforts to bolster the financial industry some of which clearly contradicted each other Geithner has managed, for the most part, to remain unscathed. He's been widely praised as a bright, articulate out-of-the box thinker who is a bailout expert, to the extent anyone can truly be an expert at fast-changing emergencies.
Behind the scenes, Geithner was the point person for weeks of sleep-deprived Bailout Weekends. It was Geithner, not Paulson, for example, who put together the original rescue plan for the American International Group.
And, of course, Geithner also oversaw and regulated an entire industry whose decline has delivered a further blow to an already weakened American economy. Under his watch, some of the biggest institutions that were the responsibility of the New York Fed Bear Stearns, Lehman Brothers, Merrill Lynch and most recently, Citigroup faltered. While he was one of the first regulators to smartly articulate the potential for an impending disaster, a number of observers question whether he went far enough to stop the calamity.
Perhaps what has most people on Wall Street stirring is Geithner's role in the fall of Lehman. At the time of its bankruptcy, he, along with Paulson, appeared to be the most vocal in supporting the government's refusal to bail out the firm, according to people involved in various meetings. With hindsight, many in the financial industry blame a deepening of the global financial crisis on the government's decision to let Lehman crumble.
Perhaps not surprisingly, there have been moves afoot in recent weeks by some in the New York Fed and Obama team to put distance between Paulson and Geithner, whose salary was $398,200 last year and who will take a pay cut to $191,300 in his new role.
These include the suggestion that Geithner was not in league with Paulson over Lehman; that Geithner pressed to save the firm from bankruptcy; that he was a lone voice on the subject and was overruled by Paulson and Ben Bernanke, the Fed chairman, on this issue.
The validity of this new claim is hard to verify. The New York Fed declined to comment.
Many executives suggest it may be a bit of revisionist history. "If that's true, he did a good job of hiding it," said one executive who spent the weekend at the New York Federal Reserve the weekend of Lehman's fall.
Paulson has only praise for Geithner. "I have the highest regard for Tim his judgment and creativity have been critical to designing and implementing the necessary actions we've taken to protect and strengthen our financial system," he said.
Let's hope he's right.
Monday, November 24, 2008
Did you see who obama hussein picked for his economic team??
Jake just called ....
We all love the 1.56 cent a gallon gasoline...
but the other side of this deal...
Now folks, OK has an economy that has as it's top dog, energy, and next is ag... and both are hurting.. so look out, we all may find times getting hard and harder...
The housing market here is still top of the world and going strong, but in a few weeks, I bet it slows way down too... hold on to your hat, stop that extra spending, and get ready to take advantage of some great deals that will become available soon...
so says one who has seen it before.... and didn't do the above...
so it goes in Stillwater, OK on this 24th day of November, 2008.
Do you need a welder? I know where there is one for hire... and he is an easy keeper. He is fully insured and bonded for up to two million... and has all his own equipment, and understands working early and staying late... even is certified to weld on all thickness and all structures... 4 years in the business...
thanks to family..
and on board the new truck is my good friend Craig.
Craig is operating the pumps on the truck I believe... I am sure there are names - correct names- for all of this but I am sorry I don't know them.
for those who read this and don't know....
The Perkins Fire Dept is a voluntary fire dept. They are all volunteers and do this to help and aid the community against fire. Because of their efforts, and the hard work and long hours they put in, they have some of the best equipment in the Southwest, and some of the best trained on any fire dept, regardless of the type of fire dept. They are professional in every sense of the word. They train hard and work hard, and their familys suffered too... when the guys work regular jobs and fight fires and have a dept like this, it takes many many hours of hard work that comes only from devotion to it and love of community and wanting to truly make a difference in todays world. ( and as a bonus to the community, Perkins, OK. enjoys low cost fire insurance for it's citizens... )
I am proud to call Craig my friend! and I am proud of all his and many others hard work to make the Perkins Fire Dept. the best.
The Perkins Fire Dept. had a pesky round bale fire they fought Saturday afternoon
I am not sure who took the photos, but I am really glad to have them and be able to share... Can you imagine the 'stink' around this fire.. and the heavy smelly nasty smoke round bales produce... yuck, to say the least!!