READER MAIL

The pride and joy and sometimes scourge of every blogger: Reader Mail. The mail box has been very active as of late since as visitor traffic increases, so do the comments. The remarks (emailed and posted) addressed everything from slight changes in the layout, to political articles; from praises to criticisms. All email is individually replied to - but here are the best that seem to run the consensus.

"Your article on Socialism in America (Final Analysis: We Are Socialist) (being the prevailing wave of thought) both really fascinated me and scared me. My family and I were ardent Obama supporters because we are so angry with the war, the economy and the general arrogance of the current administration. It seemed I was more hell-bent on blaming the Republican party and all conservatives rather than holding individuals responsible and just about anybody, I was convinced, would do better. I am willing to vote for McCain-Palin because at least I know that a vote for them is a strike against the growing tide of socialism that seems to have gripped this country. Thanks!" - Dr. R.G.A., Boston, MA (similar comments from A.W., T.F., P.D., K.C., MetsFan68, JohnDeere_21, CathyK., ADMAN2006, 0909Tom, Fireman_DC, EsquireInLA120955, Sara_A_Memphis, G.G.P. and Thinker07)

Why is it every time I have made my mind up, you seem to throw a wrench in my way of thinking. I must admit that I didn't buy your argument in your piece about Barack associating with terrorist. The alledged facts you laid out were pretty lame and convinced me you were being argumentative and just laying out anything to cause doubt. I was shocked at how your report was 100% on the nose when it came to taking a look at the socialist agenda of the Democratic party. SHOCKED! I was like you after I read your post, "Where did my country go?" I'm not so convinced that Palin is ready to handle being a VP, but I know McCain to be a guy who does believe in cooperation and he does have a wealth of experience. I guess it really is the lesser of too evils in this election. I appreciate you opening my eyes and have forwarded your article to many others. I think it has really made many people stop and think! - Rhonda J., Seattle, WA (similar comments from T.H., J.W., Golfer11, Romancingthestoned, SpinDoc1990, LakersLvr41, Chefboy_RD_34, Summerchic, SSChicagoPimper, Lisaglammodel_24, V.T., E.S., K.B., R.S.H.)

Walter - Welcome to the shining city on a hill!

On the reported accusation of ACORN attempting to stuff the ballot box with fake registrations using the names of 2nd graders and Disney characters and the FBI's current investigation of these charges, came these comments:

Your coverage of ACORN being the catalyst for phony voter registration is overblown. McCain is just ticked off that he hasn't cornered the black vote which makes up the majority of ACORN members because we are still fighting for the right to have homes of our own. These accusations are FALSE! - Faithetta D., East Point, GA

ACORN has done alot to insure that minorities have the ability to own their own businesses and homes. It has given them the empowerment to for fight this right and against the prejudices that still exist in the banking industry! - Gerald L., New Orleans, LA

Walter - I agree that there is much to be done to fight prejudice and racism in financing minorities, but it should not come at the exclusion of common sense legislation with ridiculous give-aways, or throwing away industry standards - like maybe checking credit or income. Democrats seem to think it is a right to own a home or a business (or to drive a car, have a licence or to be an illegal alien and have access to social programs) whether they can afford it or not. It is not a right and neither is health care! Don't confuse a basic necessity with Constitutional rights that you think everyone should pay for just because you are incapable to providing these for yourself. That's socialism. And thinking that corporations with all their faults should be forced by (municipal, state, federal) government to grant entitlements is fascism. Say hello to your friends Stalin and Mussolini for me.

On the article Wall Street and Big Banks Don't Deserve Your Money, IrishFan88 said: "I do agree 100% on your principles and theory but the issues facing working class people right now is their retirement plans which are mostly 401K, IRA's and similar plans. These plans are taking a beating right now and if no action was taken to somewhat stabilize the market it could have been far worse. I know because my own IRA's have decreased about 35% in the last month and I do not invest in any high risk stocks."

Walter - As far as retirement plans, I would never suggest pulling them - that's nuts - at least the loss is only on paper - if they are removed, you REALLY lose; instead relocate them to a local bank or credit union. I don't recommend commodities trading but gold does better that 400% as compared to the S&P 500. These plans are taking a beating (and they will for long term investors, but usually equal out over time). The trick is diversifying, but not at the expense of you keeping them at a brokerage firm that is rewarded for bad behavior with the bailout.

Avatar said: "Look at the annual reports from the companies that the government is forcing them to sell shares to the government and the Federal Reserve. They have either fudged their books or they really don't need the money. Seems like a nationalizing program or is it something different. http://nomedals.blogspot.com"

Walter - The books for the Federal Reserve (and the member banks of the NY Fed) have not been open to the public (for review) for over 25 years and there is a reason: they have many things to hide, such as where all this money missing money over the past 40 years has been going (incidentally, you do know we have no gold at Ft. Knox - no explanation has been offered as to where it went). By Congressional mandate, the books have to be reviewed, but they haven't even been cracked.

Also, the bailouts we're seeing in the U.S. and in the UK are the first steps toward nationalization (Britain has pretty much completed phase one of nationalization), followed by a one world economic government. Don't believe me? Then why are all the governments of any given continent forming 'unions'; without much fanfare, the president signed into law the forming of the AU - that's the American Union. It's usually under the guise of balance of trade and enables us (the U.S. and North America) to be more competitive in foreign markets. If that's the case, then why no border control under the new policy-to-be-implemented? And why the plans for the replacement of the dollar with the Amero?

What is up with the Abominable Snowman? Is is a social or political statement? - Cary F., Lakeland, FL (similar comments from about 150+ others)

The first picture on the left column of your blog is of the Abominable Snowman from Rudolph the Red-nosed Reindeer. What does it mean? - John & Teresa H., Brewer, ME (similar comments from 100+ others)

Does the Abominable Snowman mean we'll have a early winter in Tennessee? Guzzlerofbud, Nashville, TN

I wanted to write and say hi to the Abominable Snowman.....he's so cuuuuute! Melissa M., Little Rock, AR (similar comments from 200+)

Walter - It's actually my private joke with a very close attorney friend of mine. At one time, she was afraid of Mister AB. I'm just doing my part to make sure she gets acclimated to the fact that not all furry creatures that roar with big white, shiny, sharp teeth and fat, red tongue showing aren't all bad. Snowman, good! Socialists, bad!

Many were surprised that I - a Christian - would post a series of ghost stories or anything related to that theme. It's just stories. I personally don't believe in ghosts lurking about causing havoc, but it is interesting to read the legends and stories that spring up if only from the perspective of offbeat literature. I do think the environment of a particular place is influenced by what has happened there. Take for example Nazi death camps or ancient battlefields.

That's it for now...more to come, I'm sure. Thanks for reading!

Walter

Reader Mail

You write it, 360 posts it.

There were many letters regarding the current financial crisis including the bailout plan and the letter from BB&T’s head honcho…

"I work for a bank that is doing well and I agree with Mr. Allison but not for the obvious reasons. I work very hard at my job to do the right thing for my clients and the bank and my efforts are finally paying off. Now to give my competitors the same equal footing, seems ridiculous. There are better ways to correct this matter and we should not go around giving money to companies because George W says so. We are not sheep and need to act accordingly. As far as executive salary caps, i don't think they should be rewarded for bad behavior but I do think they should be compensated for their service or disservice to the company. Instead of giving them cash, make them take that payout in company stock and hold on to it for year. An then at least they would feel the ill effects of their on bad judgment. Plus, I would like to think 20 years from now we could all be CEO's and I would hate for anyone to put a cap on how much I could make. FYI John Allison is one of the lowest paid CEO's among competitors. Maybe the competition will eventually figure out how things need to be done." - Steve M, Atlanta, GA

"For the most part, Allison is correct. His reference to "Fair Value accounting" in (11) may be confusing to some: this refers to the accounting requirement to record assets at "market value" for purposes of the corporate balance sheet. Remember that MV (by definition) requires a willing seller and a willing buyer; most of the MV write downs do NOT meet this definition. A better accounting value would require that assets (in this case, mortgages) be valued at the discounted value of all future payments. Significantly less volatility and much better match to the underlying value." - D.R., Sacramento, CA

"I appreciate the comments from Mr Allison as it relates to the proposed bail out efforts. I am opposed to the plan as outlined by President Bush this week. I believe a more sound and rational approach to resolving this crisis is called for. To me, this feels like a rush to action that may ultimately benefit those whose poor judgment largely created the current situation and could potentially create a situation that ends up being more harmful to the average American taxpayer." – J.M. San Antonio, TX

It appears that the train may have prematurely left the station on this bailout package and that’s unfortunate. Paulson has panicked Congress and Bernanke is sitting on his hands.

John Allison is absolutely correct that this problem is rooted in actions of Freddie and Fannie. They have slowly, deliberately and with government encouragement moved away from their original purpose and we are now reaping the consequence.

Congress needs to quickly call John Allison and some of his colleagues with similar background and success to assist in a more responsible response to this economic challenge.

John's point that this is a valuation crisis is exactly correct and we could quickly address that issue with appropriate "tax credits" with plenty of other ammunition left.

We obviously need a "market-correction" process that illuminates "irrational competitors" and that's always messy. This bailout package may not accomplish that and may even damage the rational players if not properly structured.

"Paulson has too many friend on wall street and Bernanke is sitting around like a "potted plant". Please congress; hear some other voices. Suffice to say we’ll have a plan and slow down a bit to listen to more rational voices."" – S. Watson, Baltimore, MD

"Allison makes some good points. And BB&T would probably survive the economic downturn whereas Wachovia will go under. That is only right and fair as Wachovia has done some really stupid things and is into the derivative markets for $5 trillion. BOA is another bank that has gone crazy and has $40 trillion in derivatives.

The tax credit for buying homes is a horrible idea. One problem that led to this housing bubble is the home mortgage tax deduction. Bankers love this because it essentially says you can either give your money to the Feds or to the bank. Its a racket dreamt up by bankers. Giving a credit helps get home owners who overbought on the idea that real estate was the goose that laid golden eggs off the hook. Neither greedy bankers or greedy home owners should be bailed out.

But Allison still looks after his own and says CEOs should still make a ridiculous salary even when they've shown they are no smarter then their lowest level worker. So I'd say his interest is not the average man but simply he and his bank." – John G., Denver, CO

Other reader mail ran the gambit of comments and replies….

"I agree with most of what you have to say on this blog, but there are times that you appear a little cruel. I’m a frequent visitor to dating sites since I don’t have the time to meet men in social situations and I’m not a big fan of the bar scene. Your posting about being online made it better for rejection than rejection in person was very depressing to me. I wish you could post something POSITIVE about online dating just to even up the odds for me. Thanks!" – Jennifer C., Chattanooga, TN

"We like your continuing series of articles of American stories. They make us proud to be an American! It’s such a great history lesson, too! Thank you!!" – Roger and Sandy Y., Boseman, MT

"Is there such a thing as the Fourth Reich? I’ve heard of this over and over and the explanations are too complicated. Can you break it down for me?" – Lisa N., Richmond, VA

This blog topic is currently in the writing stage to be post soon.

"You seem pretty up on bicycles. I’m looking for a good solid bike that I can stay in shape and bike on the road rather than trails. What a good one for the money?" – Brent K., Tulsa, OK

For the money, I like the Trek series of bikes. They’re light, well put-together and easy to maintain. www.trekbikes.com

"Do you ever do blog polls that readers can vote on? If not, why?" – Susan T. Columbus, OH

I’m not much for opinion polls.

"What your stand on abortion?" – Terry F., Decatur, IL

I’m not at all for it for personal reasons, but I’m also against too much government intervention. The government has too much to say regarding personal and religious freedoms.

"We were very moved by your post regarding your monastery trip. It is rare to read such a sensitive description in such colorful detail from a man." – Deann & Carla, Athens, GA

"How come you have not posted anything regarding the destruction of American honey bee population by the Bayer Company and the EPA? This is such a disaster in the making!" – Roger P., Bowling Green, KY

It is a disaster! But I don’t need to cover it. My colleague Linda Moulton Howe has reported on it in detail on http://www.gotmead.com/index.php?option=com_content&task=view&id=882&Itemid=477 and on her website www.earthfiles.com.

"Are you Jewish? You look like a Jew to me and you act like one, too." - Randy S., Birmingham, AL

Well, okay then. I guess that settles it.

"You left out one when you did your 10 Greatest Hoaxes piece: Smartass Bloggers who think they know everything." – Jerome R., Las Vegas, NE

Sure thing! I’ll add it to Reader’s who think they have Martians in the basement.

"Mr. Walter, there IS a reason we have entitlements as you call it: to assist the poor and underprivileged! Not everyone has the chance to go to college, go to summer camp or let alone put food on the table or even get a good job. We need this kind of assistance to continue for the good of the economy." - Brenda A., Washington, D.C.

No one is denying that there continues to be a need to help, but it ceases to fulfill its purpose if it only allows laziness and assists recipients to live off the fat of the land. It was only conceived to be a stepping stone to a better life – not intended to be a career choice unto itself. People who receive this aid were never supposed to take advantage of it in lieu of becoming self-sufficient with no sense of responsibility or accountability.

That’s it for now….Thanks for reading!

Walter

Reader Mail.....

You write it, I post it....It's reader mail straight from the e-mailbag.

There were many comments regarding my post(s) "attacking" Oprah or Obama and other matters of politics. Here are a few:

".....What gives you the right to attack a great woman like Oprah Winfrey and a savior of America like Barack Obama.....?"
Rachel D., Hartford, CT (similar comments from Sandra O., Boston, MA; T.K., Durham, NC; R.F., Los Angeles, CA; A.N., Grand Rapids, MI; Dennis P., Albany, NY; Q.S., Philadelphia, PA; C.J, Denver, CO)

The First Amendment gives me the right, my brain gives me the reason. Please learn to use both responsibly. And besides, since when is presenting the truth you don't like hearing considered an attack?

".....I don't know why you insult the Democratic candidate for President by calling him Barack Hussein Obama. It's completely disrespectful of you. You should be ashamed for linking him to Saddam Hussein.....!"
Patricia and Sally J., Chicago, IL (similar comments from R.R., Des Moines, IA; Catherine A., Tulsa, OK; B.W., Franklin, OR; P.N., St. Louis, MO)

Well if you knew ANYTHING about your precious candidate, you would have known that IS his name. I wonder what else you fail to know about him?

"....I can't believe your judgment is so clouded that you like Sarah Palin. She's a pig in lipstick and has no experience in government let alone foreign policy....."
Gerald E., Bangor, ME

Gov. Palin has more experience that Obama, hands down. She has done more as governor of Alaska than Obama ever has in the Senate. Name ONE thing Obama has actually DONE aside from posturing and running his mouth? And if you choose to insult Palin, at least have the authenticity to come up with something a little more original.

There were a number of hits and comments (posted and emailed) regarding the World's Largest Cheesewheel:

"....Walter, where do you find this stuff? This one is laugh-out-loud funny, at least to my wacky sense of humor. Thanks for the lift!"
Eileen L., PA

"....What would someone do with a cheese wheel this size...?"
Paul D, Rockville, MD

"....Cheese backs me up like there's no tomorrow...."
Frederick S., Seattle, WA

"....How many cows did it take to make this....?"
Brent O., Kenosha, WI

"....My God, what will they think of next....?"
Cindy M., Jonesboro, AR

"....I can only imagine the size of the contraption used to unplug you after you ate it....!"
Tony E., Queens, NY

Other comments were more complimentary or run the gambit of sounding off on different issues or asking a variety of questions:

".....My husband and I really enjoy reading your blog. You have a knack for breaking down complex issues into simple terms. I'm sure you're a joy to be around in person....."
Jerry & Deann K., Austin, TX

Thanks! And I think I clean up pretty well, too.

".....In the past, I've really found your offbeat articles absolutely fascinating. But, I've noticed that since coming back from your short break (the monastery, etc), you have done less and less articles on conspiracies and the New World Order. Is this accidental or on purpose.....?"
Willie N., Kansas City, MO

I try to touch on the ones that I know can be well-founded: FEMA camps, attempts to collapse the U.S. financially and economically, etc. I'm not one to harp on them over and over again unless there is new information or events possibly leading up to all of this. I just write about what I know through reliable sources and post them and let the reader decide based on the material presented. Incidentally, I'm still working on what the average everyday Joe and Jane can do to protect themselves IF there is every a total and complete breakdown of our society as we know it.

".....With all the conspiracy theories out there, how did I know which is more than a theory.....?"
Sandy M., Tempe, AZ

A good authority to go by (aside from 360) is Snopes.com

"Georgia is a good football team, but I don't buy into the whole idea that Coach Mark Richt is all that genuine or humble - all that golly gee gosh stuff....."
Thomas V., Columbus, OH

Coach Richt is about as down-to-earth a guy as your best next door neighbor, so believe it. He's the real deal!

"How many miles per day do you cycle and what's the most you've cycled in a day (event or non-event).....?"
Michelle D., Miami, FL

It varies according to what I'm in training for but on average 30 to 60 miles a day, but I've done as much as 100-150 in training and in events.

"Is the military modifying the weather.....?
Joey B., Oakland, NJ

The military does a lot of experimenting that we the taxpayer foot the bill for, but don't know about. While weather modification is against international treaty, the military still carries it out covertly.

"Why do you believe that the JFK assassination was an inside job, but not 9/11.....?
Troy J.; Jacksonville, FL (similar questions from K.L., G.S., W.D., P.J., C.D., C.C.)

I just don't see any 'presented' evidence to substantiate an inside job and refuse to believe the hype from the conspiracy-mind radical/militant left. I think it would be a horrible thing to know that entities within our government would do such a thing on such a massive scale. The JFK assassination, on the other hand, was an inside job and was a matter of self-preservation by those inside the government - and the documents relating to the Warren Commission have been sealed until (conveniently) right about the time everyone involved is dead and gone. JFK, while a democrat, was also a mover and shaker and the government needed to be shaken up a bit - that didn't sit well. Kennedy was a threat to maintaining the status quo. There are more questions surrounding Kennedy than there ever will be for 9/11.

...more mail bag soon....thanks for writing!

Walter