A Leaky Ship of State

B of A's agreed to pay a record breaking fine;

Countrywide sold mortgages that crossed a legal line

Knowing that the loans that they were peddling were junk.

16 billion dollars...  That's a pretty hefty chunk.

Do not get your hopes up though - I doubt you'll see a dime.

Nor will Countrywide's executives do any time.

Might be a deterrent but I'd bet it's not the banks

Who'll be paying through the nose next time the market tanks.

Thought they were "too big to fail" before?  They're bigger now.

But, with recent record highs reported at the Dow,

Wall Street isn't in a rush to implement reforms;

Leaving us a leaky Ship of State in future storms.

In A Democracy You Get What You Deserve

Weekend saw a few elections held across the pond...

Politicians who would like to loosen ties that bond

European Union member nations won the day.

Tired of austerity, the voters voted "Nay!"

Half of Ukraine voted; not much turn-out in the East.

Faced with armed militias... Don't blame voters in the least.

In the West the winner was a candy billionaire.

Putin said he'd honor the results if they were fair.

Egypt held elections, too; the outcome no surprise.

Winner is a former Army General in disguise.

After leading Egypt's coup, took off his uniform.

In the region, that's not the exception, it's the norm.

U.S. will hold mid-terms soon but most of us won't vote.

By default, we'll let the special interests steer the boat

All the while complaining...  We have got a lot of nerve.

People only get the government that they deserve.

Who's Steering The Ship of State?

Income inequality, where few hold all the wealth,

Hasn't proven helpful to our economic health.

As we lose the middle class we lose the driving force

For a strong recovery because we've lost its source.

I hate to sound cynical because I'm, mostly, not.

I'm inclined to give something a fair and decent shot,

But I'm an idealist who doesn't understand

How the situation's gotten quite so out of hand.

I've begun to wonder, since we've given this a try

(and we've seen it doesn't work since poor people can't buy

Anything but food and Walmart clothing for their backs.

Unemployment's bad without degrees and worse for blacks...)

Why don't we try something else?  I think it's time we did.

Politicians work for those who've placed the highest bid.

We have got to change the law that lets those bidders hide.

How else will we know if we've been taken for a ride?

We'd All Go Down Together

"Gentlemen, we must hang together or surely we shall hang separately." Benjamin Franklin

Dow is plunging like a stone.  NASDAQ's falling too.

Wall St. isn't thrilled the Ship of State's not changing crew.

All the folks who couldn't work together will return...

Industries are worried, so they're crowding at the stern.

Maybe I'm an optimist, but I think this can work

(Even though McConnell's still behaving like a jerk.)

With the many storms we face there has to be a deal,

Just as soon as everyone stops fighting for the wheel.

Yes, we're in for painful cuts and turmoil overseas

But, in times of crisis - times an awful lot like these -

As we face a fiscal cliff, with no room left to stall,

I believe true patriots will heed their nation's call.

Although the stern went down last, it still went down."Untergang der Titanic" by Willy Stöwer, 1912 (artist's conception)

The 112th Congress - S.O.S.

CBO* is warning there's disaster dead ahead.

Meanwhile all this partisan insanity has spread.

Ship of State we're sailing on is more a leaky skiff

As we hurtle headlong towards a looming fiscal cliff.

Hooligans have boarded us.  They're tossing out the tea

And the baby in the midst of storms across the sea.

(Wow! I've really beaten this whole metaphor to death.

Maybe I should take a moment here to catch my breath...)

...

...

...

January 1st is when the tax cuts will expire;

Automatic spending cuts, lest deficits grow higher,

Leading to recession, say non-partisan reports.

Right now our economists are pooping in their shorts.

But, instead of listening, the Congress battles on.

Any hope of compromise, apparently, is gone.

By the time we know which President will crack the whip

It may be too late - and we all go down with this ship.

*Congressional Budget Office