July 26, 2010 News Update

07/27/2010 04:07 pm ET | Updated May 25, 2011

President Obama signs most sweeping financial reform legislation since money was invented. Public reaction? Yawwwwnnnnn...

Story of the week? Nope. Why? Obama Administration stepped on its... its... uh, its tongue. Black USDA official fired after video appears on internet suggesting she didn't help white people as much as black people. Turns out video doctored by right wingnut blogger... Administration backtracks faster than you can say "high-tech lynching for uppity blacks," to quote Clarence Thomas. Apologies flow "like a mighty river," to quote Martin Luther King Jr.

Memo to Obama Administration: If you're going to shoot from the hip, make sure you're not aiming at your foot.

Besides, unemployment in US is bad enough without firing one of your own because of blogophobia.

Even Fox Noise commentators criticized doctored video. But Rush Limbaugh then criticizes commentators for "caving in" on Sherrod story. Good ol' Rush... always good for a laugh.

Another memo to Obama Administration: Give Sherrod White House job to remind Obama it's OK to be black.

Back to sidetracked financial reform legislation... Most Republican Senators opposed it for usual reason-it was proposed by President Obama. Most bankers opposed it for usual reason-it's designed to prevent them from screwing the public.

With financial system on verge of collapse in 2008, major banks doled out $1.58 billion (with a "b") in bonuses using bailout money. Federal authority on executive pay says 80 per cent of that unwarranted. On Wall Street, greed still good. If Shakespeare were alive today, he might well write "Kill all the bankers" as well as "Kill all the lawyers."

On the subject of obscene pay, residents of Bell, California, a Los Angeles suburb of 40,000, found out that the city's chief administrative officer was being paid $787,000/year, the assistant city manager $376,000/year and the chief of police, $457,000/year-more than 50% above what LA's chief of police is paid. They got all three to resign. Too bad that can't be a precedent for Wall Street bankers.

Tony Wayward out as BP CEO, being "re-assigned" to Russia. Siberia? Well, he said he "wanted his life back." Now maybe he'll get it. And he can go yachting whenever he wants with impunity. Not likely to be opening his own Public Relations firm.

Would it be too cute to point out story was "leaked" before official announcement? Probably...

GAO report says Pentagon bought $7 Billion (with a "b") in spare parts it didn't need. Waste in the Pentagon? Sun rises in the East.

Pentagon procurement officer goes fishing, sees bait shop sign reading "All you want for $1." Says "I'll take $2 worth."

Investigation shows dozens of Pentagon officials and contractors downloading child pornography on government computers. No wonder things not going well in Iraq and Afghanistan if they're looking at naked kids instead of the Taliban.

Whistle-blowing website publishes thousands of classified documents showing how screwed-up War in Afghanistan has been. If you didn't already know that after nine years, you haven't been paying attention.

Steve Jobs holds news conference to acknowledge new Apple iPhone has defect, blames media for publicizing it. Why a news conference? Isn't there an app for that?

NY Dem. Congressman Charles Rangel says he welcomes House trial on allegations of numerous ethics violations so constituents will know who he is... Constituents already know who he is... a crook... but he's their crook and they vote for him on the grounds that he has the right to be as corrupt as any other member of Congress.

One of charges is that former head of tax-writing committee in the House didn't pay his taxes... If you write the laws, guess you figure you have the right to evade them.

Another Mel Gibson profanity-loaded "Tape of Wrath" released. White House Chief of Staff Rahm Emanuel hears it and wonders what all the fuss is about.

Sen. John Kerry (D-Mass) who married well, is docking his yacht in Rhode Island to avoid paying $500,000 in Massachusetts taxes. Obviously went to Rangel for advice.

Lance Armstrong finishes far back in Tour de France... Armstrong Legweak without doping?

Another Chrysler model goes to that great big junkyard in the sky... PT Cruiser kaPuT!


Cars Rangel