The Larry Kane Report

The bailout controversies have missed a key point. Who really got the money and how did they get it? Example: Battered AIG pays money owed to Goldman Sachs. Geithner, Liddy (AIG boss), Paulsen are all Goldman Sachs guys. Goldman Sachs wants to pay back the money to the government but the government says “no.” One day, the books on the bailout will expose a scheme to protect the insiders, and nothing else. Check out this months article at Rolling Stone magazine. And don’t read it after eating. You might get sick.

Michael Nutter is between a rock and city council. I have many friends on council. Some of them are useful. Others are hardly full time. Council  needs to find alternatives to Nutter’s various plans to stop the city’s financial bleeding. For years, council has been a less than exciting place to be, a place where turf and protecting it, is more important than good governing. Where are the ideas from Council? The feud between Nutter and council will intensify until the 17 members find a real leader who can seek compromise. In the meantime, council would be wise to work over portions of the summer or however long it takes to find funding for appropriate recreation for the children of Philadelphia!  Council’s summer vacation is joke.

On the subject of money. The Pa. Legislature should meet for 60 days a year and get its work done, a model followed by many legislatures in the nation. Governor Rendell should take a look at proposing a Constitutional Amendment to create a once-a-year-session. That’s a great way to heal the budget crisis in Pa. Save millions on the legislative sessions.  PS on this one. Good move by Rendell to form a commission to watch over stimulus spending. With Pennsylvania’s history of corruption, Rendell wants to ensure that the money is spent wisely and honestly.

Why Is Pat Toomey hesitating a bit on his plans to face off against Arlen Specter? I can tell you why? The former Congressman and conservative darling is afraid that pro-lifer Peg Luksik, who will enter the race, will siphon votes away from him. That’s a real possibility. The second reason, which I believe is far fetched: Toomey’s advisers think that Specter might switch parties. That won’t happen. But if it did, Toomey would not want to face off against Arlen Specter in a general election. He would get crushed.

That’s all for now. Keep writing.

Comments(107)

If you read this blog, you know that some of the participants (the followers) can be a bit nasty. Is that an understatement Larry, or what? The discourse on in this blog ranges from creative writing from some thoughtful people, to some very unusual writers. Check it out. You might get enlightened or develop instant nausea.

In the spirit of trying to deal with the defaming internet writers (not all, just a naughty few) my Voice of Reason Show Sunday at 9:30 on Comcast Network is devoted to cleaning up the Internet, without killings its freedoms. I am not a censor, but I abhor over-the-edge comments on race, religion and gender, unless they are reasonably intelligent. Bottom line: EDGY is good. SUPER NASTY is not. Get the drift?

As I write, the Attorney General of Connecticut reports that the AIG executives have under-reported those big bonuses by over 50 million dollars. Why is it that states have been dead on to the AIG disaster, but the Feds seems a day late and millions of dollars short?

Political question: Why is ex VP Dick Cheney suddenly the GOP’s attack weapon against Barack Obama? His attacks on Obama’s security decisions seem like “sour grapes.” If Rush Limbaugh and Dick Cheney are all the GOP has to offer, I would worry about the future of the two-party system.

Final questions: Whats happened to Mitt Romney? The guy shows up at a Republican conference a month  ago and hasn’t said a word since. The man wants to be the President. Perhaps his strategy is simple: make no controversial statements. No news is good news. But you can’t hide forever. I would have expected a stronger strategy at this point from the Governor. Also, are you wondering what I’m wondering about the strange case of some GOP Governors, who are turning down stimulus money. One of them is Haley Barbour of Mississippi. That state is economically depressed and needs stimulus.  The voters could very well pay the Governor back the next time around.

Comments(94)

Web reports of the endangered Daily News are premature.  There is a sense that the bankruptcy proceedings at the two big Philly papers will surely result in an end to the Daily News. The irony is that the Daily News has a loyal customer base, and that the Daily News will not go away. Having said that, I will add this: There is always the possibility that the People Paper might be folded inside the Inky, just a possibility mind you. The Daily News columnists are hot, especially Elmer Smith. All this speculation was prompted by a web report suggesting that the Daily News was number one on the list of the ten most endangered newspapers. As you know from some of the email that comes to this site – just because it’s on the web doesn’t  mean it is correct. My broadcast this week on the Comcast Network Sunday night at 9:30 features a discussion on the future of newspapers. Some of the forecasts may surprise you.

SENATE BOUND? -

Josh Shapiro will likely soon become a candidate for the Democratic nomination for US Senate in Pa, hoping to oppose Arlen Specter. Joe Torsella also wants the gig, but, at this point, Shapiro has lined up a very significant list of backers. As far as Specter: He faces another challenge from the right. The GOP in Pennsylvania, already weakened internally, would suffer tremendously from another effort to defeat Specter. Specter is determined to fight. Don’t rule out a man who has defied the odds, politically and health-wise, for most of his life.

MADOFF-

Bernie is finally in Federal custody. He should have been from the beginning, and unless he reveals all the co-plotters in his painful fraud, don’t you think he should remain in solitary till he fesses up? People have died, families have been ruined, and the public wants a full dimension of justice, and fast. It is incumbent upon Federal prosecutors to find and convict everyone involved in the mother of all swindles.

AN IDEA FOR THE OBAMA TEAM-

On health care: Tax credits for gym memberships.  It is a tremendous encouragement to good health in America. Preventative medicine in the form of fitness can be a cure.  We also need to educate doctors on the merits of encouraging fitness. Many doctors do that, but frankly, much of the American medical community is sadly uninformed on the benefits of exercise, and good nutrition.

Comments(101)

CHOPPERS ARE US

There will be more about this later, but a report several months ago on philly.com uncovered some safety challenges on helicopters used by the news operations of several TV stations in our market. The report was very timely. Because of a tragic accident, stations in Phoenix recently decided to pool their aerial coverage with one chopper for the entire broadcast community.  Safer? Yes. Wise?. Absolutely. When I watch the chopper wars to get video over our area, I worry, not just for the reporters and cameramen and women, but for the people on the ground. Two stations are already pooling their chopper coverage in Philadelphia. It is time for all the major stations to join in a cooperative effort to “pool” helicopter coverage. These stations have a greater responsibility to the people of our tri state area.  Being FIRST is less important than being safe. Helicopters, are very safe aircraft, but why take any more chances? Why risk the skies over news events and stadiums with so many choppers?

Frank Ford -

The death of broadcast pioneer Frank Ford brings back wonderful memories of the power of radio in this community. Frank Ford was a hard-charging voice of reason and logic in a time in our history when things were changing fast. He was an enormous success because of one key factor: his understanding of all the diverse elements that make the region work. At his height of success, Frank Ford was a hometown hero. In death, we remember him as a man who made people think, and entertained and informed in so many creative ways. Our sympathies are extended to his wife, District Attorney Lynne Abraham, and members of his family.

Whose earmarks?

Are you bored?  Have you not read any of my books to help you get out of your funk?  Maybe you simply can’t breathe, waiting for the end of the Fumo trial. Perhaps you want more snow, or you’re trying to find other distractions.

Here’s an idea. Call your Congressman or Senator’s office and ask for a rundown on the “earmarks” that have been set aside for your region. After all, the Congress has approved 34 billion dollars in earmarks. That’s 34 billion dollars! Some of them will wind up in our area. Find out what you and your community are getting. After all, it’s your money. Hopefully, they are bettr projects than the tattoo removal program that costs $700,000, or the $1,600,000 program for a new honey bee farm in Texas.

Comments(131)