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Economics
Community Banks Face a Regulatory Cliff
New Basel III banking rules will increase the cost of mortgages and small business loans — which is bad news for Main Street.
As if the “fiscal cliff” and the prospect of looming tax hikes were not enough, banks of all sizes — and in turn consumers and businesses who rely on their credit — also face the “Basel cliff.”
The term doesn’t refer to a mountain in Switzerland, the beautiful country which surrounds the city of Basel. Rather, it refers to meetings in Basel and elsewhere by international banking bureaucrats to develop the Basel III agreement for harmonizing international capital requirements. If implemented as planned, it will dramatically increase the cost of mortgages and small business loans while, according to many experts, actually making the banking system less stable.
The Basel Cliff is part of what Sen. Rob Portman (R-Ohio) and others have called the “regulatory cliff.” In the year leading up to the election, the Obama administration put hundreds of regulations on hold.
As I wrote in Forbes a couple weeks before the election, these regulatory delays “may have given employers just enough breathing room,” spurring some slightly improved growth measures in 2012. And this slight retreat from stagnation may have been just enough to carry President Obama to his election victory. But now that Obama has won, my Competitive Enterprise Institute colleague Ryan Young reminds us that “in short run, it means a midnight rush of new rules is coming.”
Yet even among the many burdensome regulations entrepreneurs face, the Basel rules are unusual for a number of reasons: their extreme stringency, complexity, lack of accountability, and — one a sign of hope — their unpopularity with many members of both parties. The entire Maryland congressional delegation, mostly consisting of liberal Democrats such as House Majority Whip Steny Hoyer and House Budget Committee Ranking Member Chris Van Hollen, recently wrote of their concerns in a letter addressed to regulators from the Federal Reserve Board, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency.
The lawmakers stated, “[W]e strongly encourage you to avoid needless complexity and consider the impact any new framework will have on traditional depository institutions that provide credit to consumers and small businesses in our communities.”
CEI also joined in a letter, sent to the Senate Banking Committee, that was signed by groups representing many sectors of industry, including the U.S. Chamber of Commerce, the Property Casualty Insurers Association of American, and the National Association of Home Builders. We wrote that the Fed, FDIC, and Comptroller “have failed to consider the impact of Basel III upon Main Street businesses.”
Given that we now know where the financial problems are located, Basell III’s logic is extremely unsound. Under the accord, a U.S. community bank would have to put up much less capital to buy a teetering European bond than to make a mortgage or business loan to a customer it has dealt with for years. As the Wall Street Journal noted in a recent editorial (subscription required):
“Their new rules encourage banks to load up on sovereign debt. This makes perfect bureaucratic sense, since the world’s governments have proven to be handsdown the issuers with the most dishonest accounting. The FDIC’s own Director Thomas Hoenig sees in Basel III the same complicated system for judging risk that failed in Basel II ‘but with more complexity’”
Basel III also imposes one-size-fits-all standards without accounting for underwriting standards and the quality of borrower. A bank offering a mortgage with any type of balloon payment — or adjustable interest rate — may be required to carry 200 percent extra capital to cover the loan. Yes, some of those low capitalization requirements were utilized by subprime operators, but they are also the same kind of loans that community banks give to borrowers with stellar credit.
Community banker Jim Purcell, head of the State National Bank of Big Spring, Texas (and co-plaintiff, along with the conservative seniors group 60 Plus, in CEI’s lawsuit against the Dodd-Frank bank regulatory overhaul), has already testified that Dodd-Frank has made it impossible to offer the stable mortgages he previously made for decades. However they feel about Dodd-Frank, both Maryland Democrats and Louisiana Republicans seem to recognize that this dash of Basel added to the already potent regulatory mix makes for a poisonous recipe for community banks.
One of the many lessons of the 2012 elections is that while conservatives should look for ways to limit government with bipartisan support, they should never let the Left dictate the main agenda or issues on the table. Since Hoyer and Van Hollen have — to their credit — expressed doubt about the Basel regime, the House majority party should give them the opportunity to put those doubts to a vote as soon as possible.
In short, there’s no reason that during the “lame duck” session, Congress can’t fix the Basel cliff and avert the biggest chunks of the regulatory avalanche.
About the Author
John Berlau is Senior Fellow for Finance and Access to Capital at the Competitive Enterprise Institute and blogs at OpenMarket.org.
Letter to the Editor View all comments (120) | Leave a comment
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Von Mises Jr| 11.21.12 @ 10:31AM
Dodd Frank is designed to enshrine a crony capitalist fascism throughout the nation. Just as all small business will have difficulty even understanding, no less complying with the hyper-regulation designed by fascist in government and Fortune 500 cronies; this regulation is designed to concentrate all lending into the hands of the handful of super-banks controlled by DC.
This is why TARP was so wrong and so dangerous to our Constitution and the free enterprise system. Hoyer and Van Hollen are in fact admitting that their forfeiting of Separation of powers and Power of the Purse to the Executive Branch is fascism. Now they want back in on the deal to control the money and lending.
How can they bilk small banks for contributions if there are only five big banks indebted to the regime?
JimH| 11.21.12 @ 11:14AM
I work for one of the largest TBTF (Too Big To Fail) banks. One of our executives, speaking to us recently, commented on the regulatory environment. He noted how onerous it had become and pointed out how it was a competitive advantage to large institutions like us as we could better absorb the costs of all these regulations. He wondered how smaller banks would fare with the current rules. To point out another reason why big business does not oppose big government the speaker mentioned that we are working with the government to provide entitlement recipients a debit card which consolidates all of their various government benefits onto one card. I guess its good in the sense that we can do it more efficiently the government could, but it is sad that things have gotten to the point where it is seen as necessary.
Ronsch| 11.21.12 @ 2:31PM
Brilliant, so we should invest our poor dollar in financing an already shaky Euro (basically) and hope it does well enough to generate a return...
it sounds like it is all one global "musical chairs" with debt...let me guess, when we start to crash bigger (holding bad debt from Europe), is China or Europe going to step in and buy our debt, and then when China begins to fail (and they will eventually), will we or someone else step up, take a turn and buy theirs?
Seems pretty ludicrous to me...
sdfhlk | 11.22.12 @ 4:57AM
And this slight retreat from stagnation may have been just enough to carry President Obama to his election victory.
TLP| 11.22.12 @ 9:07AM
I just spent an HOUR on a Monologue for this Week's Contest, only to watch it DISAPPEAR, right in front of my eyes.
I had my Hilarious Comment on Tyrrell's hideous "Party" (A gathering that only served to Solidify the notion that The Republican Party is Too Old, and Too White, and Too Anal) taken down.
I would suggest to Mr. T that a Thin Skin and a Tight Ass, is no way to go through life, Son. (Animal House)
Anyway.
Since my "Who's on First?" Gag has been Shot to Sh*t, and since I can't use AlanisthatmyhandinyourpantsoramIgladtoseeyou Brooks' idea of "Who's on Fist", for more reasons than I care to go into, I guess we'll just Get right to it.
TLP| 11.22.12 @ 9:18AM
There will be No Anologies, today. There will be No Stories ripped from the Headlines at Drudge, or from Page 35 of the "Papers of Record" somewhere between the Want Ads and the Obituaries.
No Movies. No Poems. No Haikus. No why yous. No F yous.
Today we give Thanx for the things that we have. The things that we Don't have. And, the things that we hope that we'll Never have.
Think: Monty Python's Flying Circus.
Get ready for: And now for something completely different.
TLP| 11.22.12 @ 9:56AM
In this Season of Thanksgiving, I have a few things that I'd like to express my Thanks for.
I'm thankful for my Life, my Limbs, and the way I was Raised.
I'm Thankful for being a Guy, for so many reasons. I get to Burp and Fart pretty much at will. I never really need a Toilet. And, I'm pretty much Self Sufficient (if need be) with the aid of On Line Porn.
I'm thankful that my Kids are Healthy, my Mom's still Alive, and my Wife's Boobs are still nestled firmly on her Chest, and haven't Retired to Warmer Climes down South. (if you know what I mean)
I'm Thankful that I Worship a God who doesn't command me to write down "Kill Somebody - Preferably a Jew" - on my To Do List every Morning.
I'm Thankful that I grew up in a Small Town, far from the Sodoms and Gamorrahs that have already been Hit Once - on 911 - and will, no doubt be Hit again, as they have Learned NOTHING since then, and with their Votes, have just sent a Huge FCK YOU to the Big Guy upstairs.
I'm Thankful that Hill and Billary are not my Parents, and that I'm way Prettier than that Pail a Worms that some Horrified Obstetrician pulled outta Hillary's Clownhole, right before he Jumped through the Window like the Priest in The Exorcist.
TLP| 11.22.12 @ 10:10AM
And, lastly, I'm Thankful that the Hulking Black Man Transvastite (who's "Married" to our well known frequenter of the Gay Bathhouses of Chicago President) has always made sure that whatever She/He is using to keep His/Her Johnson tucked up between Its thighs, is secure.
Although, if you go back and look at the Picture on Drudge, the day after the First Debate?
Maybe "Always" is the wrong word to use.
Let's go with - Almost always.
Von Mises Jr| 11.22.12 @ 11:41AM
Well said TLP. I am also thankful for my G0d, family, friends and the great life I have lived. And I am eternally grateful that I was not brought up a liberal so brainwashed that I cannot get my head out of my posterior. Could you imagine going through life being so miserable coveting everyone else's life and stuff?
I grew up in a great family in a suburban town but not that far from the big city liberals. I have never found one of them happy unless they were stealing your stuff or thinking they were getting revenge for your being so happy.
GOd blesses you.
TLP| 11.23.12 @ 3:07PM
He Blesses me, everyday.
More than you'll ever know.
Craigpurcell| 11.22.12 @ 11:07AM
Maybe it is time for people to stop going into debt.
TLP| 11.22.12 @ 6:23PM
There's always one these.
Which is why I usually direct The Contest to an Undisclosed Location on the other side of the "Previously" button.
TLP| 11.22.12 @ 6:25PM
Also, there will be No Prizes this time.
This is a Contest about Thanksgiving.
Not about Poop Filled Milk Cartons.
TLP| 11.22.12 @ 6:29PM
And, on a side note.
If you go to Drudge, you'll see where one of the Turkeys that was Pardoned by President Partial Birth Abortion, was EUTHANIZED.
Obviously, the Victim of a Death Panel.
Pecos Pete| 11.23.12 @ 7:48AM
Thanksgiving.
I am grateful to my parents, now long in their graves, for bringing me into this world in the USA. At the time of my birth, times were bad (depression years and all that), and they could have aborted me, but instead chose to allow me the opportunity to do something, anything and everything. Somehow God and my parents made my early years fun and interesting even when we didn't have a pot to pee in (it was actually an outhouse).
During yesterday's Thanksgiving day I enjoyed a meal beyond splendor made by my daughter and her family. As the elder, I prayed with them that we should understand how very lucky we are to live in a land of plenty and not starvation. A land where quality healthcare is still possible. A land where local people still believe in themselves and freedom. I had to chuckle as I looked at the street in front of my daughter's home and counted the vehicles in front of homes, so many per home, when in days gone by and in other countries today families are lucky to have a donkey, etc. I reminded my family that they should give thanks to the veterans who have given life and limb so that we might enjoy the bounty of the USA.
And last, I reminded them that we need to guard our God given rights for our heirs.
God bless you and God bless the United States of America.
TLP| 11.23.12 @ 8:26AM
That wasn't funny at all.
But, seriously..............
All the Unfunny reasons you just gave, are why we needn't get all Depressed because we happen to be in a Rut, the size of the Grand Canyon on Mars.
It doesn't take long to realize that we have Lots to be Thankful for.
And when we get passed all of the Sentimental things?
I'm thinking, as a Guy?
Not needing a Toilet, all the time, is Huge.
Pecos Pete| 11.23.12 @ 9:39AM
Tim: Ah, as for the guy/toilet thing ... wait until you are my age and find that guys actually like toilets. You'll understand in due course. Yet, your point is valid for you young bucks. I remember it well.
Albert Constantine Jr.| 11.23.12 @ 2:21PM
While I appreciate the concept that TLP puts forth, I haven't forgotten the advantage inherent in female plumbing [i.e., as a woman friend of mine points out in reference to her own equipment, when I have one of these, I can get one of those(referencing male genitalia) whenever I want].
Likewise, as age advances, yet I can still recall a bout of dysentery I encountered after a week serving with the Republic of Korea's Marine Corps several decades ago, sometimes being able to find a toilet (particularly a western style one such as Mr. Crapper designed and has been advanced through the last century) for use is something for which I would be thankful (and if unsuccessful, a change of clothing would be added to my list).
TLP| 11.23.12 @ 3:00PM
And, here I thought that I was the only one Sitting Down to pee.
Albert Constantine Jr.| 11.23.12 @ 3:55PM
Actually, it is that I can sit down on a porcelain convenience when urination is not the intended function is what I am thankful for at this particular moment.
TLP| 11.23.12 @ 4:11PM
Yeah, right.
Albert Constantine Jr.| 11.23.12 @ 9:35AM
I am grateful that the ship my maternal grandfather was born on as it traveled the North Atlantic from Europe took a better route than the Titanic (which went to its watery grave just months before his own journey). I am particularly grateful that its destination was the US, and that despite our current troubles, that I was born into a nation at a time when that nation was the greatest nation in the history of the earth. (I pray that that status will continue, and hope that we don’t remain the greatest nation because the others get so bad we retain the title through default).
I am thankful that despite being born in an era when prosperity had raced ahead of medical common wisdom, and it was not known that pre-natal habits of smoking, drinking and/ or ingesting prescription medication might have a negative impact on infant development, that I was born with sufficient health to pass an Armed Forces physical and serve. I am likewise thankful that my own children have been born generally healthy.
I thank God that he gave me sufficient intelligence to detect sophistry, and that together with my parents and my education and upbringing that to this point I have been given the opportunity to develop the character to reject most of the false promises of the left.
Albert Constantine Jr.| 11.23.12 @ 9:36AM
I am thankful for the Founding Fathers, who were so much wiser than their contemporaries and many of those who followed, and while they started a country that was imperfect, they crafted a Constitution which, when followed, provided for meaningful improvement in a way superior to most other methods.
At this very local level, I am thankful for the good fellowship of the contest, and that we continue to have an opportunity to express our thoughts in this manner, in a way which can often be simultaneously elevating and down to earth. Thanks, Tim.
Bob Grant| 11.23.12 @ 12:49PM
Instead of focusing on gratitude and thankfulness, I would like to call to attention the increasing thanklessness that exists in America.
The word "thanklessness" comes to mind when I think of the people who voted for obama. Many, if not all, who voted for him did so on a Prid pro quo basis. They fully expect to receive something tangible in exchange for their vote. Whether it's free contraceptives, mortgage reduction on their home, student debt forgiveness, free Obamafowwwnns, a larger section 8 voucher amount, crony crapitalism, or the myriad of other entitlements citizens receive from the government, people feel entitled to these things simply based on for whom their vote is cast. When the flow of gifts slows or stops, politicians can expect to be punished at the voting booth. Gratitude is a foreign concept to these people.
As the government becomes more of a force in our lives, replacing that which heretofore Christianity was responsible for, the word thankful will lose it's meaning and perhaps become one of those quaint-little words used by "less sophisticated" generations.
The sense of entitlement is antithetical to authentic thankfulness and I wonder what the ObamaPeople contemplate on Thanksgiving Day... that is for the few who have not spent the day standing in line to save $100 on their 72 inch flat screen tv purchase.
I suppose today I'm thankful for not having to confront one of these people and having my powers of restraint tested.
Albert Constantine Jr.| 11.23.12 @ 2:11PM
Said another way, you're thankful that thanklessness, while prevalent, has not completely erased the former concept (and I see you've mastered the use of bold. Congratulations on its meaningful use in your entry.).
Bob Grant| 11.23.12 @ 2:21PM
You could say it was a bold step forward for me.....That is, you could say it was a bold step forward for me.
Albert Constantine Jr.| 11.23.12 @ 2:33PM
Ah, BG, you demonstrate a technique that now I will have to learn.
TLP| 11.23.12 @ 2:45PM
Freakin Show Off.
TLP| 11.23.12 @ 2:55PM
I'm gonna hold this over, and reintroduce it, on Moday.
I really thought that this Dump would be Open for Business the Day AFTER Thanksgiving.
I smell a Union.
Now that you've given your Heartfelt Thanks?
How about Spicing Thing Up, come Monday?
I'm thankful for Thin Girls, with Fat Chests.
I'm thankful for Escalators for (figure it out)
I'm Thakful for Lady's Nights, Panty Lines, No Panty Lines, the Egyptians Creating Beer, all of the Free Samples at Costco, and when my Wife loses her Voice.
Stuff like that.
Albert Constantine Jr.| 11.23.12 @ 3:05PM
I think some of the usual suspects (KJ, CJW, and especially LtCol Mike) are all still drinking off yesterday's celebration.
I like your list, and after a slice of pumpkin pie, and pumpkin roll, I will join your toast to the ancient people of Egypt (before Muhammad came along and spoiled their taste for a good time and creative culture) and try Happy Hour for a while.
TLP| 11.23.12 @ 6:00PM
K.J. Emailed me that he had to go away on Business, and would be unable to join us, today.
Hopefully, he'll be back in time for Monday.
Bob Grant| 11.23.12 @ 6:11PM
TLP,
I go to Costco all the time and have never been in a Panty/No Panty Line. Are they by customer service?
Oh, and I've never been there when they've given away free beer samples.
Now, I am thankful for/and supportive of Egyptians who lose their voice.
- Bob (a little dyslexic at times) Grant
CJW| 11.23.12 @ 7:26PM
Had a great Thanksgiving, over 20 at my house. Even did some work today.
We have much to be thankful, look around the world, despite Obama/Laughingboy Biden this is still the best country.
Albert Constantine Jr.| 11.23.12 @ 3:00PM
Check this out.I think I have it now.
TLP| 11.23.12 @ 3:03PM
See ya, Monday.
Kapoon.
Bob Grant| 11.23.12 @ 6:18PM
Have what now? Heh :-)
BL in AK| 11.23.12 @ 3:50PM
TLP-
I love escalators and beer. Funny how this article doesn't say anything about the impact to gold. I am Thankful for my Dad (God rested his soul in 1983) being cleared out of Ellis Island after being detained for a week with a rash when he was a 1 yr old coming from the farmlands of the old country. I likely wouldn't be here today if that rash was something more serious. Hope you extend the contest to Monday night so I can post after work.
Enjoy the rest of the weekend
cheerz
BL
TLP| 11.23.12 @ 4:12PM
Cheers to you, as well.
TLP| 11.23.12 @ 4:14PM
As there are No Prizes this time.
The Contest is Open Ended.
You've got all the time in the world.
Albert Constantine Jr.| 11.23.12 @ 10:01PM
Bill;
For years, my grandfather maintained he was born in 1912. When the time came for his eligibility for Social Security full retirement, he had to reveal that in fact, in 1928, he lied about his age in order to get a driver's license, in order to help support his family, and he was in fact born in 1913.
Today,too often we have people bypassing the entire immigration process in order to gain access to benefits instead of the opportunity to work.
Though I am philosophically opposed to her, I understand the perspective of the melting wicked witch as she laments "What a world".
TLP| 11.24.12 @ 8:41AM
What the Hell was that?
Albert Constantine Jr.| 11.24.12 @ 11:17AM
I did warn that I was going to happy hour. Everything after that, you're taking your chances with it if you're not reading it with a BAC of at least .05.
mike 3/505| 11.24.12 @ 2:03PM
.05? Wimp!
TLP| 11.25.12 @ 7:38AM
He meant 505.
mike 3/505| 11.25.12 @ 3:20PM
NOW you're talkin!
Gary B| 11.23.12 @ 6:34PM
"In short, there's no reason that during the "lame duck" session, Congress can't fix the Basel cliff and avert the biggest chunks of the regulatory avalanche."
You mean no logical reason. Congress has plenty of other reasons for doing what it does. It has so many private clients to take care of, all at the expense of the taxpayers, of course. That's why they worked so hard to get elected. They have paying customers to service. It's Kabuki theatre at its best.
TLP| 11.23.12 @ 6:49PM
Again.
There's always one.
Albert Constantine Jr.| 11.23.12 @ 9:52PM
Actually, this makes at least two. But in the case of Gary B, he is usually quite consistent, so I am guessing he missed everything else between (at this moment) comment 8 and comment 40.
Gary B| 11.23.12 @ 11:08PM
Nope. I waded through most of it... the sitting down to pee, contests, insults, rambling, small talk, etc. You know, all the helpful and relevant contributions in a forum like this when you guys take 40 posts to high-five each other.
TLP| 11.24.12 @ 8:37AM
Just as I suspected.
He's still "Consistant.
He's an Asshole on the days that these Stories are Posted. And days later, he's STILL an Asshole, who claims that he "Gets it" yet proceeds to write another one of his insipid Scribblings, even though we're doing something else, now.
He wants to keep on posting things on the Comment Page of a Long Dead Story, that nobody (but us) is gonna go to. He has to know that NOBODY gives a Sh*t what a No Friend old fool, like him, has to say.
Nobody cared on Wednesday, when this Story was first written. And, certainly, even Less People give a Sh*t THREE DAYS LATER!
In Gary B World, nobody's allowed to have Fun. Everybody needs to Stay at each other's Throats, because Gary is a Miserable Fck. Everybody needs to be Bitter, and Nasty and STICK TO THE RULES.
SIEG HEIL!
Let me be Thankful for one more thing.
I'm Thankful that I'm not this MFer - Gary B.
Thank You, God.
And, Thank You, Gary B for showing everybody else here how Blessed we really are, not being a Miserable Piece of Sh*t, like you.
Now, do EVERYBODY a favour, and go outside and Die.
TLP| 11.24.12 @ 8:44AM
This is why The Previously Button needs to be used.
TLP| 11.24.12 @ 8:55AM
That was pretty harsh.
In my own Defense, I didn't sleep all that well, and I woke up Hungover.
I apologize to Gary B and to the Group.
That's not we do here, at the Contest.
It won't happen, again.
Gary B| 11.24.12 @ 8:54AM
I apologize. I guess I'm slow to realize you guys had converted The American Spectator forum into an after-hours mutual mastur... er admiration society. And, my suspicions are confirmed... you really were raised in a barn.
Regarding my previous comment, I rest my case.
TLP| 11.24.12 @ 8:58AM
Where was this, while I was apologizing?
Albert Constantine Jr.| 11.24.12 @ 9:35AM
Sometimes the high road and the low road take you to the same place.
...or so said the fortune cookie that came with my last order of sesame chicken...
Bob Grant| 11.24.12 @ 10:12AM
Exactly TLP,
The timestamp suggests Gary Busey hit the submit button while you were deep in apology mode.
To add another Connie Francis reference: "Who's sorrry now"?
Hardcard| 11.24.12 @ 9:09AM
"Who's Sorry Now" Connie Francis 1958. What kind of a contest has no prizes ? This crap has got to stop, soon or I'm going over to NR on line. Then you'll really be sorry.
Albert Constantine Jr.| 11.24.12 @ 9:31AM
Prizes, rules, effort; its all as much as you put into it.
Myself, I tend to get Connies Francis and Stevens confused at times.
Bob Grant| 11.24.12 @ 9:50AM
Hardcard,
In obamaland, there are no prizes. No winners. No losers....and no religion too.
Just post something and hope that TLP isn't too harsh on you. This IS the new normal.
As Rodney King once said: "Can't we all jus' get a loan?"
Albert Constantine Jr.| 11.24.12 @ 9:57AM
Excellent tie in with the banking theme of the original article. I give you much credit for that.
Bob Grant| 11.24.12 @ 10:14AM
Al,
I figure I owe it to The Best Analogy Game on The Net to be in top form.
Albert Constantine Jr.| 11.24.12 @ 10:29AM
I think we all are banking on it.
Bob Grant| 11.24.12 @ 11:31AM
It appears some at this site think we are engaging in tranche warfare against our like-minded comrades, but it is all in good fun.
I like to think of TLP's "bluntness" as a little good-natured friendly fire (JUST out of harm's way) to keep us on our toes.
...then again, he could be like Tommy DeVito from GoodFellas who "accidentally" shoots Spider.
Albert Constantine Jr.| 11.24.12 @ 11:48AM
Am I a clown? Do I amuse you?
(and Spider is always catching "friendly fire", as in the Sopranos, he was shot by memebers of his own crew, had his fiance whacked by his consigliere and was eventually strangled to death by his own uncle/ boss. He also was killed by Larenz Tate at his own request, but that was only after he was wounded and castrated by the NVA).
Bob Grant| 11.24.12 @ 12:24PM
Well,
Anyone who would have Adriana "Christafahhh" La Cerva whacked deserved to be castrated.
Perhaps his reserve of brain cells ran a little low?
Albert Constantine Jr.| 11.24.12 @ 12:42PM
To be fair (from their viewpoint), they had her killed after it was learned that she had been talking to the Feds.
Bob Grant| 11.24.12 @ 1:05PM
That was the problem with Tony Soprano and his ilk. Their default position was to whack someone without taking other, more aesthetic, considerations into account; and so Adriana's debts could only be paid back with her life.
After all, business is business.
Albert Constantine Jr.| 11.24.12 @ 1:18PM
Perhaps if they were more circumspect, we could more gauge their behavior (though I realize the poor quality of the last pun may erode my earlier points).
Albert Constantine Jr.| 11.24.12 @ 11:51AM
I had to look up tranche, but I think the process we engage in during the contest bonds us together.
TLP| 11.24.12 @ 4:22PM
Don't defend me. I don't deserve it.
What I wrote to Gary B was unforgivable, at The Contest.
Anything he throws my way, in retaliation?
I deserve.
It won't happen, again.
Albert Constantine Jr.| 11.25.12 @ 10:22AM
I think you have expressed contrition sufficiently for any sins you may have committed as host, and that Gary has expressed himself in reply. While I could hardly qualify as a neutral observer, and am not duly empowered to speak for anyone beyond myself, I'm don't see any value to any additional self flagellation on the issue.
If Jesus were here, he might offer something like "Go now, and sin no more".
While I would hardly try to contradict my Lord and Savior, were such to occur, I might humbly beseech Him to modify it to "Stick around, and sin no more, and start expanding that list of that for which you're thankful."
TLP| 11.25.12 @ 3:21PM
Understood.
Thanks, buddy.
Gary B| 11.24.12 @ 10:24AM
"Can't we all just get along?" Apparently not. A lot of rapid fire, liberal-style name calling going on. It may help to remember who the real enemy is.
Albert Constantine Jr.| 11.24.12 @ 10:43AM
Actually, GB, if I might reply; over the last ten weeks or so, between 10 and 25 regular posters have been getting together on what is generally a dormant thread, and have been conducting a contest on a single theme, moderated by TLP. In the event that you weren't aware, that is the "society" that you have encountered today.
Generally, most of the participants seem to get along very well, whatever our personal idiosyncracies might indicate. We dish out and we take at whatever level we choose.
While I am not the host, or the originator, generally, all that is required to enter this week's lightly attended festival is a thought about what you might be thankful for currently.
TLP| 11.24.12 @ 1:08PM
Actually, I would be very Thankful if Gary B would accept my apology, and my promise that it won't happen, again.
That was one of those "God I wish I had an Edit Button" moments.
Seriously, Gary B.
I am really sorry for what I wrote.
Gary B| 11.24.12 @ 3:11PM
No need to apologize for what you’ve made. The place has devolved into an off-subject, three-ring circus – correction “society.” Not sure the owners of this site envisioned that, or are pleased to finance it, but there it is.
As I said above, the real enemy is in DC, not here. Good luck to all of us, as we plan for 2014. Adios muchachos.
Bob Grant| 11.24.12 @ 3:31PM
"...or are pleased to
financeit, but there it is.""or are pleased to finance it, but there it is.".
There, better.
Albert Constantine Jr.| 11.24.12 @ 4:00PM
Keep compounding that train of thought.
Bob Grant| 11.25.12 @ 9:38AM
Al,
I'm attempting to minimize the collateral damage caused by others' previous posts.
Albert Constantine Jr.| 11.25.12 @ 10:41AM
For those who would like to branch out and comment on this article on an otherwise uncluttered thread, it also appears verbatim on the Daily Caller website, with three posts as of 10:30 am EST.
Bob Grant| 11.26.12 @ 12:04AM
Al, apparently the branch was closed over at the Daily Caller.
Hardcard| 11.24.12 @ 10:08AM
I beg to differ in, in obamaland half the peoples get free stuff every day. john lennon had a job and paid taxes too. I want my MTV could the kardasians date the jackson 4 (no more five) ?
Albert Constantine Jr.| 11.24.12 @ 10:12AM
In Michael's case, apparently one bad apple did spoil the whole bunch of girls.
Hardcard| 11.24.12 @ 10:11AM
connie stevens married eddie fisher after liz.
Albert Constantine Jr.| 11.24.12 @ 10:13AM
Oh, mein papa, I suppose she no longer needed Kookie's comb at that point, then.
Hardcard| 11.24.12 @ 11:02AM
She left it on Sunset Strip . Now do I get the prize ? Maybe an EBT card.
Albert Constantine Jr.| 11.24.12 @ 11:23AM
As non-moderator and non-host, I am not authorized to issue prizes on behalf of the contest. I will award you my respect for your persistence, as well as your consistency.
I would expect Fedex should deliver it mid week (allowing, of course, for limited smog in my noggin).
Hardcard| 11.24.12 @ 11:37AM
Mr. Clapper or Mr. Crapper what's the difference SOS and speaking of the stinky stuff, there going to dig up arafat, to redefine the cause of death, I think it was triganosis, something dosen't smell right to me!!
Albert Constantine Jr.| 11.24.12 @ 11:42AM
Talk about consistency-even in the years after his death, Monsieur (or is that Mon sewer) Arafat is still capable of stirring up trouble and causing a stink.
mike 3/505| 11.24.12 @ 2:31PM
I'm thankful for my two gorgeous daughters who flew up to see dear old dad for thanksgiving and are spending the weekend with me. Which is also why I've been scarce the past couple days. I'm also thankful for this group of societal rejects Tim has brought together for good nature ribaldry every Friday. Now, where's the scotch?
Albert Constantine Jr.| 11.24.12 @ 2:44PM
I am sure, given his other expressions of gratitude, that TLP will be glad your daughters are gorgeous, which should also make you grateful for the 2nd Amendment.
Bob Grant| 11.24.12 @ 3:03PM
Even IF you're drinking a less-than-stellar scotch such as Grant's Reserve, at least have the decency to lie and tell us you're drinking 14 y.o. Oban, or perhaps 19 y.o. Glenfarclas.
BTW, welcome back.
Albert Constantine Jr.| 11.24.12 @ 3:10PM
I am sure Mike will regard your recommendations for libations with great interest.
TLP| 11.24.12 @ 4:26PM
I'm just glad that Colonel mike found his way to this site.
mike 3/505| 11.24.12 @ 4:36PM
Oban? Hah! THE Dahlmor, Sir...or if I'm short of funds...Johnny Red....failing that, a special reserve from the vintners of Mogen David.
TLP| 11.25.12 @ 7:56AM
And, failing that, whatever's in that guy's glass over there, that I am definateley slamming down, as soon as he heads for the Mens Room.
Bob Grant| 11.25.12 @ 10:49AM
TLP,
A word of warning about the partaking of guy's drinks while they are otherwise "occupied".
Rumor has it, gays are on to this and in anticipation will slip date rape drugs in their drink as they go pee pee.
Not long after the gullible prey enjoys his "complimentary cocktail", they end up in the backroom of some sleazy pawnshop like Butch in Pulp Fiction.
And there will be no Marcellus Wallace to bail you out!
Albert Constantine Jr.| 11.25.12 @ 11:25AM
I guess to the extent that Zed found Marcellus more attractive than Butch, it could be said that Marcellus bailed him out.
Nonetheless, there is always opportunity to serve in the role of the Gimp, whom I believe brings a zeal with him in the role of understudy which only Joe Biden can equal.
Bob Grant| 11.25.12 @ 11:48AM
Ah, The Gimp!
One of the most endearing non-talking characters in cinematic history, right up there with Charlie Chaplin's The Tramp; Ann Bancroft's Helen Keller; and The Soccer Ball in Castaway, a role Patrick Duffy is rumored to play in a television remake.
Bob Grant| 11.25.12 @ 11:53AM
I DO like your Biden-as-The-Gimp observation. I can just imagine obama keeps him in a box at some "undisclosed location", ready to be unleashed for the next election cycle or diversion tactic.
Albert Constantine Jr.| 11.25.12 @ 3:30PM
An earlier response disappeared somewhere into cyber space, but I won't complain, as I certainly have had my fair share.
Regarding Biden as the Gimp, during the debate with Paul Ryan, we were treated to many of the gesticulations that would qualify him for such a physical role, though we would lose the benefit of his many facial expressions as result of the leather hood covering his countenance.
I also see opportunity for him in the "Wilson" role, in that at the critical moment, he dried up and blew away. I am certain the current VPOTUS has been asked to do the same many times over the past several decades.
Bob Grant| 11.25.12 @ 9:11AM
This special reserve from Mogen David? Would that be wine that is aged in a clean bathtub?
Albert Constantine Jr.| 11.25.12 @ 10:24AM
I believe the label specifies clean porcelain bath tub. Those made of other materials impart a metallic or off taste to any vintages after the first.
Bob Grant| 11.25.12 @ 10:58AM
SOME like the regular tubs with the proper amount of soap scum residue.
But of course I, like you, prefer my Bath Tub Vino aged in porcelain with minimal residue. Call me a snob but that's just how I roll.
Albert Constantine Jr.| 11.25.12 @ 11:27AM
Of course, it is the residue of Irish Spring that brings the Celtic nose to the Irish Rose brand, I have heard.
mike 3/505| 11.25.12 @ 3:25PM
Ahhh...remembering the days...when I had the liver of a 17 year old paratrooper!
SUBVET| 11.26.12 @ 10:43AM
I see I have joined the party a little late but to all a belated Happy Thanksgiving Day.
Surely a great day for me my daughter/son-inlaw gave me little Luke one of God's miracles.
MIKE 3/505 you woke me up with the Ahhhh remembering the days......
The WESTPAC 65-69 tours.....walking across "shit river bridge" to one's favorite bar...tom tom, rio club to name a few.
Ya know the surface pukes hated us "sewer pipe" sailors we got $55 a month extra...more beer and girls.
I think a San Miguel was 35 cents US back then.....$10 could go a long way, then as you walked back to the base there was the monkey meet on a stick.
Last thoughts before I fall asleep....I like the beer, the girls, the music....would I go again......
Hell yes the next off duity weekend.........
TLP| 11.24.12 @ 4:27PM
Remember, we'll be back on the air, come Monday.
BL in AK| 11.25.12 @ 2:44AM
Albert-
Sounds like you're referring to the Wicked Witch of the West in Wizard of Oz, the one with the green face. She still scares the crap out of me. Sounds like everyone is enjoying their own weekend cheer. Since it is Sunday time stamp-wise...
I am Thankful for our Lord helping me get off the streets of Oakland that I lived on for 4 years following my Dad's passing. I am Thankful my parents were able to experience their only grandkids (my neice and nephew) while they still had their health. I pray that I will have the same strength when my time comes that my Mom had while she fought kidney cancer for 2.5 yrs. I pray that one day a cure for MS will be found so that my sister will be rid of that disease that she was recently diagnosed with. I pray for my sister's recovery every day. And finally, I am Thankful to experience each new day in one of God's greatest landscapes here in America's Last Frontier.
Till next time, cheerz to All.
BL
TLP| 11.25.12 @ 7:52AM
So, which guy are you on that Alaska Show?
The guy towing Wet Logs for a living? The guy with the 6 Emaciated Cows? The guy that's Happy as a Pig in Shit, cause he's got 5 Chickens to get him and his Wife through the 11 Months of Winter?
Or are you the guy sitting on the Ice, with his Wife, for 20 something hours, holding a piece of string with a hook on it, trying to Catch ONE FISH?
Look. On the day that you find yourself standing behind a table on the side of the road, trying to Sell Snowballs up there, during a Snowstorm?
I'm just sayin.
Bob Grant| 11.25.12 @ 9:18AM
Perhaps you'll rethink your position on Alaska when obamapocalypse is in full throes.
Albert Constantine Jr.| 11.25.12 @ 10:03AM
I seem to recall in 2008, in response to hearing that John McCain had named Alaska Governor Sarah Palin as his running mate, noted political pundit and frequent switcher of alias names Sean Puff Daddy P Diddy Puffy Combs offered some commentary. If I recall correctly, it was to the effect of “What do they know about crackheads in Alaska? What do they know about unemployment, and the problems of urban America?”
Though I personally have touched my feet to the ground there less than half a dozen times, and never stayed long, and am aware that numerous issues both common to and in addition to what goes on in the Lower 48 exist, I always thought that a better endorsement of Alaska’s superior characteristics could not be found than taking Mr. Combs at his word.
Hardcard| 11.25.12 @ 12:36PM
Isn't Alaska the 57th state? Did the moslem campaign there? We don't need no stinkin dog sleds!!! PS: puff dildo is not a name switcher, those are his aka's on his sheet.
BL in AK| 11.25.12 @ 2:17PM
TLP-
None of the above, try again.
Bob G-
You are correct. Our house doubled in value while the real estate mkt in L48 took a dump.
Albert-
Herion addiction is a problem here in Anchorage along with our own version of gang violence (growing pains, mostly PacRimmers and Blacks), and AK is numero uno in rape and domestic violence. We also have homeless folks and White Trailer Trash as well. The area Ms. P was mayor of contains the highest percentage of meth labs in AK. Statewise we are at 7.6% or so unemployment. With regards to urban American problems, most folks who move here list many of those reasons for them leaving L48 as well. I have lived in both urban and country settings and decided on a balance between the two.
Hardcard-
Having observed and experienced my fair share of urban America's diseases, I moved here because of lots of clean water, fresh air (no smog-except the stuff that blows in from Russia and China occasionally), and no such thing as rush-hour traffic problems compared to L48.
Granted we are not Detroit, Philly, Chicago et al, but we have our own version of problems to deal with. Every time I travel out of AK, for business or pleasure, I am reminded of why I choose to live here. Mostly the lack of crowds and traffic.
cheerz
BL
Oldefarte| 11.25.12 @ 3:26PM
As usual, I'm always A DAY LATE AND A DOLLAR SHORT; but what am I thankful for? I'm [as of 11/7/12] most thankful for the members of the MSM, college professors and leterary writers for their contributions to education and higher learning as illustrated by the following [cheers everyone]:
http://www.breitbart.com/Big-J.....st-Holiday
Oldefarte| 11.25.12 @ 3:29PM
literary.....sorry!!!
Oldefarte| 11.25.12 @ 3:47PM
Oh wait, I forgot. I'm also so very grateful for the millions of extremely intelligent American voters who flocked to the polls on 11/6/12 in support of our POTUS and his beneficial policies to this nation [as exemplified by the following]:
http://www.breitbart.com/Breit.....Capitalism
Bob Grant| 11.26.12 @ 12:08AM
Olde,
Don't you feel secure in the knowledge that from now on ObamafowwwnnnPeople will determine our future presidents?
Sweet dreams!
Oldefarte| 11.26.12 @ 1:51PM
Absolutely BG! As long as the American disease of ultimate STUPIDITY exists in its present form, JC could run for POTUS and it wouldn't nake a difference. These fools pontificating on various faults of Republicans/McCains/Romneys [hey WTF even THE DONALD has entered the fray in saying now that R's were seen as to "mean" to people of color], while allowing a blind-eye to the corruptive destruction from the Democrats, the dumbazzs aka Americans will continue to flock to the polls in support of the MSM's promoted Democrats, right? We are a nation of idiots being mesmerized by MTV, Oprah, ESPN, Hollywood and most of all by labor unions/Trumpkas. Forrest Gump had it absolutely correct....STUPID IS AS STUPID DOES [and boy are we stupid]. But hey, "future presidents"? Who cares? This country is toast, done, spent, headed [beginning 1/1/13 from the fiscal cliff, debt ceiling, governmental defecit/debt etc] toward the cliff/canyon at 90MPH Thelma&Louise; style [hands-clasped and extended in the air] saying TAKE ME LORD, I'M COMIN TO MEET YA!!!!!!!
TLP| 11.26.12 @ 4:00PM
You guys are still here?