Story #1: Should the Government Bail Out USA Today?
RUSH: Wow. Did you see this? USA Today, the nation’s newspaper saw their advertising revenue plunge 27% in June. Maybe Congress can bail them out, too. Bailout season.
Story #2: Capitol Hill Democrats Unhappy with Obama
RUSH: Yesterday in Politico.com: “After a brief bout of Obamamania, some Capitol Hill Democrats have begun to complain privately that Barack Obama’s presidential campaign is insular, uncooperative and inattentive to their hopes for a broad Democratic victory in November. ‘They think they know what’s right and everyone else is wrong on everything,’ groused one senior Senate Democratic aide. They’re kind of insufferable at this point,'” talking about the Obama people. This is interesting ’cause the Republicans think the same thing about McCain. The Republicans think McCain is out there just trying to get elected president, doesn’t care what happens to the rest of the party, and now some Democrats on Capitol Hill are saying the same thing about Obama, that he doesn’t care what happens to the rest of the party. I don’t think that’s true in Obama’s case. I think the Democrats just assume that they’re going to win in the biggest landslide in American history. I think they think they’re going to pick up 70 seats in the House. I think they think they’re going to pick up 12 in the Senate. They’re going to win 60-40 in the White House. I don’t think they think they have to do anything for coattails.
Story #3: Denver Gives Homeless Movie Tickets for DNC
RUSH: The homeless are fine as long as they are in somebody else’s neighborhood. But when the Democrats are going to show up for their big-time convention in Denver, they can’t have them anywhere! It was the same thing in New York. They just can’t have those TV images. It’s going to be bad enough with Recreate ’68 out there trying to cause all kinds of hijinks, so they’re going to give the homeless movie tickets in Denver the week of the convention. I’m not making it up.
Story #4: DJs Know: Sexy Voices Don’t Equal Sexy Babes
RUSH: A little story from LiveScience.com: “People with voices deemed sexy and attractive tend to have greater body symmetry upon close inspection…” Who got to do the close inspection?
“‘The sound of a person’s voice reveals a considerable amount of biological information,’ said Susan Hughes, an evolutionary psychologist from Albright College in Reading, Pa. ‘It can reflect the mate value of a person.’ Hughes, whose new study is detailed in the June 2008 edition of the Journal of Nonverbal Behavior…” Well, hell, we gotta get on that list! I thought we subscribed to all these things, but I’ve never heard of this. We have to get a subscription. We can get a free one because we are powerful, influential members of the media here. The Journal of Nonverbal Behavior. This new study is detailed in the issue. It “cautions that an attractive voice does not necessarily indicate that this person has an attractive face.” Now, let me jump in here, ladies and gentlemen, with some personal testimony based on years and years of experience guided by intelligence: They did not need to do a survey, a study; they didn’t need to do any close inspection to learn that somebody with an attractive voice has an attractive face.
They didn’t need to do this. Virtually anybody, any male who has been a disc jockey at any radio station at any time since Marconi invented it could tell you this. I’ll just tell you my experiences. When I was a struggling young disc jockey star of the future, while you were playing the hits and playing the tunes, getting ready for the next hit to play; of course, you’ve got a little downtime in there getting on the next commercial set setup and whatever you have to do; and the phones are ringing off the hook, usually, if you’re on a station that has an audience and they’re calling to make requests, maybe calling to enter a contest, “Be the 43rd caller, you can win this little trip down to the sewer,” whatever the station was giving away, and among those people calling were groupies. They were legion. Brian, you know what I’m talking about. As an engineer you probably haven’t dealt with this personally, but you know that they’re out there. Okay, you know that they’re out there, and I’ll tell you.
Some of them, you pick up the phone and talk to ’em, and, man! Those voices that some of them had. Despite what you knew, you say, “This one has to be for real,” and you’d set up a meeting, and you’d get disappointed every damn time until you finally figured out that if they had anything worthwhile to do they wouldn’t be calling you. I developed as a struggling young disc jockey a system for this, ’cause I kept hoping. You know, hope is a strange thing, as Obama knows. I kept hoping that just one of these times… Now, remember, I’m 16, 17, 18, 20, 21. I kept hoping that just one of these times, one of these beautiful voices would match a beautiful face. They never, ever did. Never! So I had a system set up to find out. It takes a while for this to happen, but you suggest getting together, which is what the groupie wants in the first place.
But you don’t jump at it ’cause you don’t want to appear desperate. Because just like if the groupie had anything better to do, she would be calling you; if you had anything better to do, you wouldn’t be running around trying to meet the groupie. It works both ways. I am now mature enough to admit this to you and to myself. So what I would do is I would lie about the kind of car I had, and I would lie about the time that I was going to meet the groupie. So I’d say, “Okay, I’m showing up at X place and I’m driving this. You stand out there and I’ll drive up.” You’d describe yourself on the phone, and always a lie as well; and then you’d drive by a little later than you said you would be there — not much, sometimes a little earlier — in a car that you’ve lied about and you scope it out. And I guarantee you, every damn time I just kept driving. Not one time — not once, Dawn, not once — did I stop.
“Mr. Limbaugh, that sounds so mean and cruel.” I’m sure it does to some of you New Castrati, but the whole point of telling you this story is they just finished who knows how much money this cost, a research survey for a magazine called the Journal of Nonverbal Behavior, and the big result is a caution that an attractive voice does not necessarily indicate that the person has an attractive face. Anybody with experience could have told them this, and it would not have been anecdotal. I can’t think… I knew a lot of other guys that were deejays who did the whole thing, and some of them had low standards. They didn’t care what the groupie looked like. They just wanted the feedback and the ego thrill. That was not me. I had much higher standards, but there were never any exceptions to this. Never, ever, ever!
Story #5: Does Anyone Care about the Olympics Anymore?
RUSH: By the way, is anybody excited about the Olympics? I keep seeing these stories… The body of water for the sailing races — it turned into pea soup or something from the algae and so forth, and they got the algae out of there. The Chinese say that they’re going to mess with the weather for the opening ceremonies, if the weather’s not good. They’re putting all kinds of restrictions on banners and so forth. A lot of people would look at it as a great opportunity to work for a network that would send you over there to cover this. That’s the last place I’d want to go, to this kind of crowd, this kind of place. What, Snerdley? The hotels are not at capacity? Well, I wonder why. You know, as my friend, Don Ohlmeyer said, “Until Al-Qaeda gets a team, the Olympics just aren’t going to be what they were.” You know, back when the East German women were men and taking all kinds of steroids, and had mustaches — and the Soviets hockey team was actually a bunch of army guys that were armed with pistols — those were the good old days of the Olympics. This, I don’t know. I just can’t get into it.
Story #6: Catfish Walk Through Florida Neighborhood
RUSH: This story is from Pinellas County, Florida. I’m just going to read this story to you as it is written: “About 30 fish were spotted ‘walking’ through a Florida neighborhood, shocking homeowners who said they’ve never seen anything like it. ‘I was like, “No way there’s fish in the street,”‘ homeowner Dianna Fernandez said. ‘And I kept going further and further and seeing fish everywhere — in driveways. I’ve never seen anything like it.’ The walking catfish were spotted in the road near a Pinellas Park subdivision Tuesday. The fish used their pectoral fins to walk or shuffle around the streets. Video showed the fish moving through the neighborhood. A scientist with the Florida Fish and Wildlife Conservation Commission said the catfish can travel on land as long as they stay moist. ‘We thought it was a prank at first,’ resident Hannah Cline said. ‘(We thought) that maybe somebody dumped some fish but then we realized that it was coming up from the sewer that we had so much rain last night.’ Experts said the type of fish spotted in the neighborhood likely hit the land because of the large amounts of rain in the area. Homeowners said it is the first time they’ve ever seen fish in their neighborhood.”
There’s a still shot here of a fish walking, slithering around there on a driveway it looks like. I just wanted to get this news to you el quicko, because it won’t be long before this is blamed not on rains, but blamed on global warming. When the Drive-Bys get hold of this story, they will probably omit the fact that these fish can walk anyway, as long as they’re moist, that there is actually a walking catfish, so just be on the lookout, ladies and gentlemen. You heard it here, as you do most things, first.
Story #7: Shazam! A Revolution in the Mortgage Industry
RUSH: From the Associated Press, the remaining Drive-By news organization that is a monopoly, the lone remaining Drive-By news organization that is a monopoly, and they just had a policy changed at AP where they are purposely now inserting the opinion of the reporter in stories ’cause they think that opinion is what makes news and money in the media. “Doug Gylfe still can’t afford to buy a home in Torrance, Calif., despite a 23 percent drop in prices. And Congress isn’t helping.” Yes, AP, and just exactly what is Congress supposed to do? In fact, could we not say, ladies and gentlemen, that the problems that we’re having in the subprime mortgage area are precisely due to Congress being involved and dictating that lenders lend money to people who couldn’t pay it back? In fact, I saw there was a story in the stack yesterday, revolutionary new concept in loaning money. New standards are going to be implemented when making home loans, and one of the things that is going to now be required is that the lenders verify income to make sure that the people borrowing the money can pay it back. What I want to know is — I haven’t borrowed any money in a long time — when did they let that go lax? Years ago?
Are you telling me that you can walk to a bank and say, “I need $1,500 bucks,” and get it without telling anything about your income? Oh, mortgage brokers, Snerdley. Okay. All right. So a revolutionary new concept here in the mortgage broker lending business, and that is going to be that you who borrow money through a mortgage broker are going to have to prove that you can pay it back. Well, shazam! Snerdley, I know it’s discriminatory. It discriminates against people who can’t pay it back. But I guess we’re in so much trouble that we’re going to be now doing government-sanctioned discrimination. We’re going to go back to discriminating and we’re going to require people to prove they can pay it back where some people can’t. If people are going to get loans ’cause they can pay ’em back that means other people who can’t pay ’em back are not going to get loans, that’s government discrimination. Some people have a harder time not verifying it but proving it because they’re in the all-cash business, they’re under the table. Some of them don’t have any income. Some of them don’t have any income and they still want to borrow money for a house and in the past they’ve been able to do that because the government did not want to discriminate against people who didn’t have any money. But now we’ve got a big problem.
We’ve got a big problem. People that borrowed money, couldn’t pay it back, are now being foreclosed on and kicked out of their houses, and that’s discriminatory, that’s unfair. Now we’ve got this big housing mess. So the government is going to fix this by making sure that if you borrow money from a mortgage broker to buy a house, you have to be able to prove you can pay it back. I tell you, this government is heartless, isn’t it? I warned you people about this. They’re just absolutely heartless, coldhearted, cruel SOBs. Can you imagine requiring somebody to prove they can pay the loan back, when everybody knows they’re going to get bailed out if they don’t pay it back anyway. And now this, poor old Doug Gylfe, still can’t afford to buy a house in Torrance, California, despite the fact there’s been a 23% drop in home prices out there. And Congress isn’t helping? Man, oh, man. “That’s the dilemma this week for the nation’s lawmakers and millions of Americans who are priced out of homeownership: Any rescue policy to stem foreclosures could artificially prop up home prices and perpetuate the affordability crisis in many major cities coast to coast.” How many times can they put the word “crisis” in a sentence?
Worrying about this is what got us into this mess. Here we’re in the middle of the mess, we’re trying to fix the mess and here comes the AP with a sob story that essentially says we should repeat the steps that got us into the mess. Congress isn’t helping poor old Doug Gylfe buy his house, and so lawmakers are grappling with that this week to deal with the millions of Americans who are priced out of home ownership. Isn’t that how this all started? We had millions of Americans who were priced out of home ownership. I’m just looking at this and I can’t do anything but laugh. This is sheer, utter irresponsibility and stupidity from the Associated Press. The very thing they are advocating here is what led to the circumstances that we are in now, and so, guess what? Congress creates a problem, they give people money to buy a house, people can’t pay it back, they get foreclosed on, all of a sudden now there’s a crisis ’cause people are getting foreclosed on, and all these mortgage bankers are going belly up because nobody’s paying ’em back, and Fannie Mae and Freddie Mac are out of money.
Guess who’s been involved intimately with Fannie Mae? Does the name Jamie Gorelick ring a bell? This woman is everywhere, and Jamie Gorelick got a 26 million payout when she left the place. Jamie Gorelick got 26 million to leave, one of Clinton’s guys, Franklin Raines, Franklin Raines, he was kicked out after corrupting the place. He left shortly before he was taking it in the shorts, but he got out of there with no penalty whatsoever. What is it with these Clinton people? This is why we don’t get any tell-all books on the Clinton administration because they were all set up in these sweetheart deals — money, money, money, money — I still can’t get over this. Congress is not helping poor old Doug Gylfe, so now we have millions of Americans who are priced out of home ownership, which is how this all started. “Any rescue policy to stem forecloses could artificially prop up home prices and perpetuate the affordability crisis,” yet I’ll guaran-damn-tee you if government did nothing and home prices continue to fall then tomorrow the AP would write a story whining and moaning about the lack of asset value for people who still do own their houses. We just can’t win with these people.
“Lawmakers, however, appear more focused on the negative economic consequences of falling home prices than the benefits. Congress, in a way, is facing a real estate hydra: The declining home prices, rising foreclosures, tighter lending standards, higher interest rates, and industry layoffs. Yet while trying to protect the economy and honest homeowners who are suckered into bad loans, Congress may cut off one of the serpent’s heads only to see two serpent heads grow back.” Exactly right! Liberalism. This is what liberal Democrat activist government always does, it’s a great way to put it. Okay, so we’ve got a problem out there with poverty. Fine, have the Great Society. Bam, we cut off that serpent’s heads and then three more pop up. We destroy the black family, we destroy work incentive, and we destroy productivity among the people we’re trying to help. The Congress didn’t get it right the first time. Trying to protect the economy and honest homeowners who were suckered into bad loans? You know what I think that means? It means that somebody didn’t define A-R-M for them? Now, who in their right mind does not know what an adjustable rate mortgage is? So now we got the predatory lender, we’ve got it all wrapped up in this story, and the headline says it all: “At Housing’s Bottom, Many Will Be Priced Out.” Aw, I am going to start crying. I am going to start crying. People are going to think I’m harsh, people are going to think I’m lacking compassion. At housing’s bottom, many will be priced out. What’s the alternative? How about we have a housing boom? You can write the same headline: “At Housing’s Boom, Many Will Be Priced Out.” Hey, can I give you a little hint, AP? At all times, good or bad, in the housing market, some aren’t going to be able to afford one, damn it!
Story #8: Washington Post Puff Piece on Franklin Raines
RUSH: I was talking about Franklin Raines a moment ago, former Clinton administration official who ended up running Fannie Mae for a while. The Washington Post has a very sympathetic story regarding Mr. Raines, and again I think this falls under the category of why we’ve never had tell-all books on the Clinton administration from members of that administration, because so many of them got wired into big money deals; and it would threaten those big money deals and appointments if they ever did the tell-all books. “In the four years since he stepped down as Fannie Mae’s chief executive under the shadow of a $6.3 billion accounting scandal, Franklin D. Raines has been quietly constructing a new life for himself. He has shaved eight points off his golf handicap, taken a corner office in Steve Case’s DC conglomeration of finance, entertainment and health-care companies and more recently, taken calls from Barack Obama’s presidential campaign seeking his advice on mortgage and housing policy matters.”
I just want to choke here. This is a guy who presided over a fraudulent accounting setup at Fannie Mae to the tune of $6.3 billion, and the Obama people are asking him for advice — and he’s taken eight points off his golf handicap, and he has the office with Steve Case. “And he’s privately smoldered over the events of the past week, when Fannie Mae and Freddie Mac were portrayed as being on the brink of disaster, prompting steep drops in their stocks and a federal intervention. In his first interview in two years, Raines remained insistent that the mortgage finance giant’s problems are not rooted in the company but stem from a time when the Bush administration and the Fed insisted the government-sponsored enterprise carried no explicit federal backing,” and it goes on and goes on.
The next two paragraphs: “Watching from outside the limelight has been frustrating, said Raines, who has not spoken publicly about Fannie Mae since being charged by federal regulators with manipulating Fannie Mae’s earnings in 2006. Rising from the working-class streets of Seattle to the highest levels of political and corporate life, Raines for more than a decade enjoyed a bully pulpit in Washington, first as head of the White House Office of Management and Budget under President Clinton and then as chief executive of Fannie Mae, where he was the first African American chief executive of a Fortune 500 company.” This is such pap. Fannie Mae, a Fortune 500 company? It’s a government company, a government-run private sector business, which is an oxymoron.
Anyway, I don’t want to get distracted by that. Franklin “Raines settled charges brought by the Office of Federal Housing Enterprise Oversight by agreeing this spring to pay $2 million and forfeiting $22.7 million in stock and other benefits. And though none of it will come out of his pocket — the payment was covered by insurance — he has not emerged unscathed. He and his wife of more than 25 years, Wendy, are separated. Their house, a 1910 colonial in Northwest Washington, is for sale. An old friend, former Time Warner chairman Richard Parsons, describes [Raines] as being ‘in strong recovery mode.'” Well, boohoo! Here’s a guy forced out, who presided over a $6.3 billion accounting fraud and we’ve got a big sob story about how he is going to lose $2 million and forfeit 22.7 million other dollars, although he won’t have to pay personally because it will be “covered by insurance.” This guy is no Ken Lay. This guy is no Jeff Skilling. Now he’s playing golf, and he’s just trying to recover. He’s watching this from the sidelines. He’s so devastated.
Story #9: Lawsuits Have Taught Us Not to Get Involved
RUSH: Interesting story, Washington Post today: “The Impassive Bystander.” You and I were talking about this the other day, Snerdley, with the woman in the hospital who fell down and nobody gave her any attention. “A woman sits alone on a gray chair in a psychiatric ward in a Brooklyn hospital. When we first see her, we do not know how long she has been sitting there. Suddenly, the woman collapses on her face onto the dirty floor. We watch through a surveillance camera as she lies there, her blue gown above her knees, her legs convulsing. We watch as a guard comes into the room, puts his hand on his hip, looks at the woman, then looks up at the television hanging from the ceiling. Then the guard walks away. We watch as two other patients sit across the room as the woman lies there. We watch them watch her.” The Impassive Bystander. Why? What is happening to us? Wesley Perkins, a professor of sociology at Hobart and William Smith Colleges, in Geneva, NY, says, “The larger question about the culture of indifference has a lot to do with bystander behavior. The bystander phenomenon is generated by the perception that other people are not doing anything about it, therefore I shouldn’t either.”
“Most of us do the right thing only when others are doing the right thing,” it says here. “Real heroes are the ones who break out of the group norm. The predominant cultural impulse is for people to transfer responsibility.” We don’t know how common this is because there haven’t been surveillance cameras all over the place in hospitals showing us these things, at least they haven’t gotten out if they do, but the situation in that Connecticut town where the guy got hit by the car, hit-and-run, was out there on the ground in the middle of the street for a long period of time before a cop showed up and nobody in the street would do anything. Do you think there’s a reason for this? We got all these societal, cultural analysis trying to figure this out. I think, among many other possibilities to explain this, is the fear of lawsuits. I think the lesson is, don’t get involved, because if you get involved, you might get sued. That woman falls over, and you walk up and do something, and she ends up being fine or maybe is a little bit injured because of her fall and because you were there, you might be charged with doing something. I think there’s a big stand-off attitude here simply because there’s no desire to get sued by a tort lawyer, even from a patient in a mental hospital.
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