Thursday, January 21, 2010

If Republicans Think This Is Their Time, Let Them Delude

The Morning Joe Rebuttal for January 21st, 2010


1) Maria Bartiromo needs the truth-o-meter. Loretta Sanchez had it bad enough with the classic ‘never empower the question’ histrionics of Rudy Giuliani, but when future Wall Street super lobbyist Bartiromo claims any sort of divining rod in what’s right and rational in the banking system at this level, she is exposed as an arbiter of conflict of interest. Just Google Maria Bartiromo and try and find hard hitting journalism about the role of Moody’s in the financial meltdown, and all you’ll find is pro business fluff pieces. That’s what an apologist does, that’s what a lobbyist does. Loretta Sanchez had it exactly right, fine, talk about Countrywide, but give equal time the sub prime mortgage securitization process and the role a compromised Moody’s played in that. You were there, Maria, you were part of the hoax.

Now, as for Rudy, I don’t need game film to call you out for all of the ‘Dukes of Hazzard’ level anecdotal nonsense, it just isn’t necessary. You do enough yourself. If anyone doesn’t characterize Giuliani getting off of a plane in Massachusetts as wanton opportunism, if they can’t directly see that part in ‘O Brother, Where Art Thou?’ where the fat incumbent Governor Pappy O'Daniel dances a jig to George Cluny’s sudden hero, then they simply don’t understand the shallow place hermit crab Giuliani has chosen to dwell this week.

2) Mike and Willie did something very right today when they didn’t become the 104th on-air opportunity for Indiana Republican Mike Pence, who went everywhere else to try and claim a victory lap for the Republican party based on the Massachusetts election. This guy is looking for the airtime just to float his coming senatorial campaign. But the fact that he has decided to break national based on a dubious read of momentum is astounding.

We had a super shift in the standing of the independent voter in Massachusetts. There was no pro Republican message anywhere in the Brown campaign. Pence is so far off in his interpretation of the Brown message, that he probably should be counseled by the RNC prior to causing a huge schism in any real opportunity possessed by them in the next 12 months. An incumbent is an incumbent. Financial records will already show they’re in the bag for special interests and voters have reacted to a modern media phenomenon where virtual inventory of your vast bank of conflicts of interest is part of their voting decision.

The jig is up for the Dodds and the Sessions of the world equally. Pence running around with an elephant flag is Gary Larson level misinterpretation on display.

The show, instead of having Pence, or anyone else with any party delusion for that matter, on to try and spin rightward, chose a very moderate Nicole Wallace, and a very scholarly Melissa Harris-Lacewell to have an adult discussion of the facts on the ground subsequent to the Massachusetts (and New Jersey) elections. That is an astounding victory for the show where your competitors were letting Republicans shoot episodes of ‘The Far Side’.

3) I thought it was interesting today that Mike Barnicle talked about his checkered past with banks, foreclosures, repossession and credit. This comes a couple of days after this column blasted Mike and Harold Ford Jr. for being part of the machine while claiming to be agents of honest appraisal. I want to know more, because I find this self-characterization of today troubling.

On one hand, it could be that all the personal experience led a rational broke person to marry well so that he could carry on with his low paying populist vocation comfortably. On the other hand, he might’ve run game film on himself and felt the need to place some populist credibility on his public record. Either way, Countrywide came up again today. They are hurting people. Bank of America owns them. Mortgage restructurings account for less than five percent of all defaults. The banks are not allowing any of the government mortgage relief mandates to move forward. They are slow walking the mandates trying to force a 100 cents on the dollar subsidization of mortgage restructuring by the government similar to the deal Goldman got for it’s AIG repayment. That is Bank of America hurting main street for profit, trying to dynamically force an enriching bailout one American family tragedy at a time. Who pays your mortgage again?

That’s all for today, see you tomorrow.

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