OC Blog

Objectivists on Sub-Prime

Since the news that lenders might freeze rates on certain adjustable-rate mortgages is going to be THE story in financial markets today, I thought I'd provide this link to a podcast interview I just did this week with Alex Epstein, analyst with the Ayn Rand Institute regarding the sub-prime lending mess and government's proper role in it.

His answer likely won't surprise you: there is no role, he says!

What may surprise, however, will be the little tid-bit near the end of our discussion, a description he gives of Libertarians.  Most would likely believe that Ayn Rand and Libertarianism are synonymous-- not so, says Mr. Epstein.  In fact, those who may have been heartened by the recent orgasm of hysterical financial support for Ron Paul's quixotic presidential bid will be equally disheartened by Epstein's remarks... pretty interesting stuff on another topic in the news lately.

The Ayn Rand Institute is based in Irvine, by the way.

Lincoln Club President Speaks To The LC's Big $$ For CalCounts

When the Orange County Lincoln Club endorsed the CalCounts Initiative, you knew it was only a matter of days before the big shoe would drop - a major contribution towards qualification.  This is because the Lincoln Club has a long tradition of not just talking, but DOING.  If you look back over the history of the Orange County Lincoln Club, you will see that they have spent a generation being at the forefront of great things. 

It's actually worth taking a few minutes to read this great profile of the O.C. Lincoln Club penned by OC Blog Proprietor Matt Cunningham for Red County Magazine.

We reached out to Rich Wagner, the President of the Lincoln Club, and asked him if he would put pen to paper (or more likely fingers to keyboard) and share with readers why his organization, which is quite selective about which battles it chooses to wage, has weighed in to give the CalCounts Initiative a huge push towards qualification...

That column appears today on the FlashReport.  It begins thusly...

LEADING A MOVEMENT TO MAKE A DIFFERENCE
Richard K. Wagner, President, Lincoln Club of Orange County

The Lincoln Club of Orange County Board of Directors has voted decisively to endorse and support the California Counts Electoral College Reform initiative.  Agreeing to contribute $100,000 to the cause, the Board felt that for far too long, too many voters in California have not been counted in Presidential elections.

For over 45 years the Lincoln Club has been at the forefront of most of the major issues confronting California.  It was initial support and funding of club members that helped launch Ronald Reagan's 1966 gubernatorial campaign.  In 1978 early seed money and support by the club helped allow for Proposition 13 to proceed to the ballot.  In 2003 it was a $200,000 commitment along with the club's good name that helped to launch the recall of Gray Davis.  In most instances, the club acted only after substantial, and sometimes heated, debate, and this vote was no exception.

The greatest cause for concern by some club members was the idea of reforming the Electoral College process in California.  Taking the state from a winner-take-all to one where electors are chosen by Congressional district caused great angst.  In fact only a month ago most board members were against this initiative for just this reason. However the debate established some solid arguments as to why this initiative should be considered and supported, and the reasons had nothing to do with trickery or slight of hand with regards to the election process.

Read the rest of Wagner's column here.

I (Heart) Huckabee

As we prepare to take the Red County / OC Blog to the next level, I was working with one of my vendors, a software developer who is helping design the new website. We have been working together for several months but had never talked politics. I found it strange since my line of work was obvious and our project was called "Red County".

So after tap dancing around the issue for several months, I threw caution to the wind and violated rule number one of social etiquette; never discuss politics and religion with someone you don't know. I figure politics is now my business and I have to know where people stand... even my software developers.

Mike Huckabee Picks Up "Strong" Endorsement

Wow it sure has been a while since I've opined here, but I've finally found a sufficient break from school-work and work-work to ponder greater issues...like roundhouse kicks.

Actor Chuck Norris, of Walker: Texas Ranger fame, announced today his support for Mike Huckabee in the 2008 Republican Primary, and hopefully the general election as well.

As a supporter of Huckabee myself personally, I'm fairly excited by this news, though it may prove trivial.  As of late, the Arkansas Governor has been performing seemingly strong despite his lower name recognition and lacking cash vault.  I was very impressed that he took the time to come out here to Orange County despite the fact he has been written off by many as a losing, or minor candidate.  And though he will likely not win the nomination, I feel very confident he will find his way onto the ticket by way of VP nod; his ideas (Fair Tax, especially) and persona (personal weight-loss story coupled with massive charisma makes him tangible to voters) will definitely prove advantageous to whichever campaign it is that will be running for, or rather roundhouse kicking its way into, the White House

Candidate Profile: Paul Hegyi

I've been meaning to write something about Paul Hegyi who is running for the open Assembly District 10 seat, but I needed several Orange County connections, since after all, this is Red County/OC Blog.  I browsed Hegyi's website yesterday and called a few people to search for those connections and it turned out he is very well connected to the OC GOP political insiders.

Paul as many might know is the Chief of Staff to Asm. Van Tran.  Prior to his current position, Paul worked for Shirley Horton and was an intern for then Asm. Mark Wyland, now a state Senator in south county OC.  In 2006, he managed the campaign of Tony Strickland for Controller and was victorious in the GOP primary.

SJSU Survey - Support for Term Limits Weakening Measure is a House of Cards Ready to Fall

San Jose State's Survey Policy and Research Center just released some survey results on the term-limits weakening measure, public sentiment on illegal aliens, and popularity numbers for the Governator.  You can read the summary release which is attached below.

Of particular note in this survey were the numbers on the term-limits weakening measure being placed on the ballot by termed-out legislative leader politicians Don Perata and Fabian Nunez.  On the first pass, the career politician set would be chuckling with glee as respondents to the survey, based on having the 'official' description of the measure read to them, seem to support the measure with 56% saying they would vote for it.

Well, that is where the good news stops for them and the good news for those who oppose career politicians begins.  The analysis with the attached survey penned by survey director Melinda Jackson makes it clear that it is Jerry Brown's slanted wording that is responsible for the faux support for this measure.  Jackson says that Jerry Brown's description of the measure that emphasizes that the overall amount of time that an individual can serve in the legislature is reduced, rather than the extension of the amount of time that a legislator can spend in the house in which they were elected, is responsible for the support.

She goes on to say, "If opponents spend money on television ads against this proposal, if Governor Schwarzenegger opposes it or if Republicans or conservatives feel tricked, the measure could lose ground very quickly."

The reason for Jackson's point is undoubtedly due to the fact that the strongest support for the measure, as described, comes from the most traditional proponents of term-limits - Republicans, conservatives and decline-to-state voters!  As this group of folks starts to understand that this measure weakens term limits, and even worse, allows an entire group of politicians to serve in the State Legislature long beyond the current Prop. 140 limits, you can easily see where they will flip around, and how this measure will be in dire straights.

The supporters of this measure are fooling themselves if they think that this battle to weaken term-limits is going to be waged in some sort of vacuum.  There will be a strong, vigorous campaign against this ill-advised attempt by politicians to keep their jobs at all cost, afraid of life in the private sector, and unwilling to allow other eager Californian citizens to come up and 'give back' by serving time in the legislature.

When I saw how essential support from Republicans, conservatives and DTS voters is for this measure to break into the mid-50's, it made me think of a tower of cards preparing to topple...

Download CApoliticalpressr.pdf

(Cross posted from the FlashReport)

New Gallup data show confidence in Congress at all time low

This was on the front page of www.drudgereport.com. While the military garnered much more confidence from the American public than the Congress, voters did not support many veterans at the polls last November. Out of dozens of Democratic candidates aka "Band of Brothers," only one Iraq vet (Patrick Murphy) was elected. Even the admirable Tammy Duckworth could not defeat a career GOP politician in Illinois. Only one GOP congressional candidate reached the general election (Van Taylor got smoked by Chet Edwards in Texas/Crawford Ranch district). Go figure...

Just 14% of Americans have a great deal or quite a lot of confidence in Congress.

This 14% Congressional confidence rating is the all-time low for this measure, which Gallup initiated in 1973.  The previous low point for Congress was 18% at several points in the period of time 1991 to 1994.

First Vietnamese-American Congressman?

I thought readers would be interested in reading this article about Red County/OC Blog blogpen member Quang X. Pham from the March/April issue of Nha magazine:

The First Vietnamese American Congressman?
Quang X. Pham wants to represent his community, but it may not want him.
by Paulette Chu Miniter
Nha Magazine MARCH | APRIL 2007

On the second day of the 2004 Lunar New Year festival in Garden Grove, Calif., Congresswoman Loretta Sanchez took to the stage in full Vietnamese costume. On each side of the stage waved American flags, with the flag of pre-communist Vietnam interspersed in between. Sanchez, the daughter of Mexican immigrants, was upbeat. Wearing a dark purple ao dai, the traditional long Vietnamese dress, and a gold khan dong crown on her head, the fourth-term Democrat beamed at thousands of constituents as she began her speech.

GOP "War" Candidates, Hagel and Iraq

McCain's visit to Westminster yesterday paled in comparison to his stump there in March 2000. He's definitely staying on his course as far as the war in Iraq goes. Same for Giuliani and Romney. With that said, there is an interesting article in the WSJ this morning. Here's an excerpt.

AD60 Watch: Larry Dick Gearing Up

MWDOC and MWD Director Larry Dick is gearing up his 60th Assembly District campaign with a big campaign kick-off reception on April 26 at the offices of Scott Baugh & Associates.

As you can see from the invite, Larry has lined up top-shelf roster of endorsements: