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Title: Blog by Novelist William S. Frankl, MD

Archive for May, 2010

The Fannie Mae and Freddie Mac Follies

Monday, May 17th, 2010

Several weeks ago, Sen. Chris Dodd (D-Conn.) spoke to reporters about his financial regulation bill, “We’ve ended the ‘too big to fail’ debate.  So no longer do I expect any argument to be made that this bill exposes the American taxpayer.”  Well, more nonsense and inaccuracies from Dodd. Are you surprised?

The Heritage Foundation has looked into Fran and Fred’s finances and have found:
1. Freddie lost another $6.7 billion in the first quarter of 2010 and needed another $10.6 billion in cash to survive.
2. Since Freddie was formally nationalized in 2008, the federal government has already spent $50.7 billion bringing the Freddie bailout total to $61.3 billion.
3. Combined with Fannie’s bailout, the Congressional Budget Office estimates that the Government will spend $389 billion bailing out the two.

According to Heritage, nothing in the Dodd bill does anything to address and reform Fannie and Freddie, despite the fact that Fannie and Freddie were complicit in the very  crises Dodd claims his bill will prevent.  Heritage points out that Fannie and Freddie were both created for the specific purpose of making it easier for Americans to buy more expensive housing despite a marginal financial status:
1.Starting in 1993, predominatly Democrat politicians pushed Fannie and Freddie to loosen their previous strict loan purchasing requirements.
2. In 1995, Fannie and Freddie began buying subprime securities that had been bought and bundled by private firms. One of these firms, Countrywide Financial,  Fannie Mae’s biggest customer, delivered investors a 23,000 percent return between 1985 and 2003
3. By 1996, regulations required that 40% of all Fannie and Freddie-bought loans had to be provided to people with below median incomes.
4. By 2004, Fannie and Freddie were purchasing $175 billion worth of subprime securities per year from Countrywide and others, 44% of the entire market.

There were many other factors that contributed to the 2008 financial crisis, but Fannie and Freddie’s used their unique, “too big to fail” status to create and grow the subprime security market essential to the ultimate meltdown. AND FANNIE AND FREDDIE ARE NOT ADDRESSED IN THE DODD BILL! So, the Obama regime is out to control the financial markets, but Fannie and Freddie are exempt! I wonder why.

The Heart of the Matter

Monday, May 17th, 2010

According to a new Duke University study published in the Journal of Health Affairs, the amount of money medical specialists accumulate over their careers is twice as high as that of primary care physicians (PCPs). Many observers think the higher income for specialists is a significant reason for the shortage of primary care physicians in the United States.

Duke researchers examined income and interest minus living expenses, which they called career wealth accumulation — for cardiologists, PCPs, college graduates with an MBA, college graduates who became physician assistants, and people with bachelor’s degrees:

According to the Duke study, cardiologists accumulate more than $5 million on average, compared with $2.5 million for PCPs. Those with MBAs accumulate $1.7 million, physician assistants accumulate $846,735, and people with bachelor’s degrees accumulate $340,629 on average.  The researchers estimated how much additional compensation would be required to make choosing primary care a more financially desirable. Their findings suggest that:

1. Increasing the pay for PCPs by 50% would reduce the gap between cardiologists’ income and PCP’s income from about $2.7 million to $1 million.
2. To completely eliminate the gap, PCPs would have to receive an average annual income increase of $122,000.

Since the medical care budget is a zero sum game, the only way to increase the incomes of PCPs is to reduce the incomes of cardiologists. NOW  WHO WOULD YOU RATHER HAVE TAKE CARE OF YOU WHEN YOUR CHEST PAIN OCCURS? OR WHEN YOU NEED A HEART CATHETERIZATION? OR WHEN YOU NEED A PACEMAKER? ETC., ETC., ETC…. I bet I know what your answer is.

The American Medical Association Wants To Silence Physicians

Friday, May 14th, 2010

The American Medical Association (AMA) is a major supporter of Obamacare. As a result,  the AMA is now attempting to silence doctors who oppose this takeover of  the American Medical System.

In the weeks since passage of this 2,700 page health bill, that no politician has read, more and more of its policy land mines have exploded, including rising insurance premiums and admissions of inevitable rationing. Thus, an increasing number of physicians are alarmed over the impact the legislation will have on their patients.  Therefore, their growing opposition makes the actions of the AMA, which represents only 17 percent of the doctors in the United States, look bad, out of touch with physicians both in and out of their organization. Why has the AMA acted so irresponsibly? The answer to this and many of the other political questions that arise can be found by following the “money trail.”

The AMA wants to protect a monopoly the federal government designed for it:  a medical coding system administered by the AMA, which every doctor and hospital is forced to use in order to get paid for their services. This AMA monopoly generates income for the organization estimated to be between $70 million to $100 million annually.  In fact, it has been rumored  the White House threatened to abrogate the monopoly unless the AMA supported Obamacare. The AMA buckled. Thus, the AMA has become much more a special-interest group beholden to Congress and the White House than an association looking out for the interests of physicians and their patients.

Passage of this bill has awakened physicians.  Doctors all over the country are now educating their patients how Obamacare will limit their freedom to make their own health-care decisions. There are about 925,000 doctors in America and the average doctor has at least 2,000 patients. Many are already taking time to discuss the bill with their patients. This terrifies Congress and the White House. And so, the AMA is trying to silence doctors. Alas, how far this once proud AMA has fallen.

The Politics of Cities

Thursday, May 13th, 2010

I received this today from my friend, Lou Laskey. It deserves to be carefully studied.


City,   State,    % of People Below the Poverty Level

1.  Detroit ,  Mi                          32.5%

2.  Buffalo ,  NY                         29..9%

3.  Cincinnati ,  OH                   27.8%

4.  Cleveland ,  OH                     27.0%

5.  Miami ,  FL                             26.9%

5.  St. Louis ,  MO                       26.8%

7.  El Paso ,  TX                           26.4%

8.  Milwaukee ,  WI                    26.2%

9.  Philadelphia ,  PA                  25.1%

10.  Newark ,  NJ                         24.2%

U.S. Census Bureau, 2006 American Community Survey, August 2007

What do the top ten cities (over 250,000) with the highest poverty rate all have in common?

Detroit,  MI (1st on the poverty rate list) hasn’t elected a Republican mayor since 1961.

Buffalo ,  NY  (2nd) hasn’t elected a Republican mayor since 1954.

Cincinnati ,  OH (3rd) hasn’t elected a Republican mayor since 1984.

Cleveland ,  OH (4th) hasn’t elected a Republican mayor since 1989.

Miami ,  FL (5th) has never had a Republican mayor.

St. Louis ,  MO (6th) hasn’t elected a Republican mayor since 1949.

El Paso ,  TX (7th) has never had a Republican mayor.

Milwaukee ,  WI (8th) hasn’t elected a Republican mayor since 1908.

Philadelphia , PA (9th) hasn’t elected a Republican mayor since 1952.

Newark ,  NJ (10th) hasn’t elected a Republican mayor since 1907.

Einstein once said : ‘The definition of insanity is doing the same thing over and over again and expecting different results.’

It is the poor who habitually elect Democrats
yet they are still POOR!

“You cannot help the poor
by destroying the rich.

“You cannot strengthen the weak
by weakening the strong.

You cannot bring about prosperity
by discouraging thrift.

“You cannot lift the wage earner up
by pulling the wage payer down.

“You cannot further the brotherhood of man
by inciting class hatred.

“You cannot build character and courage
by taking away people’s initiative and independence.

“You cannot help people permanently
by doing for them, what they could and
should do for themselves.”

––––––Abraham Lincoln

Krauthammer on Obama

Tuesday, May 11th, 2010

Dr. Charles  Krauthammer  is an M.D. and a lawyer and is paralyzed from the neck down.

Last Monday was a profound evening, Dr. Charles Krauthammer spoke to the Center for the American Experiment.  The entire room was held spellbound during his talk. The ramifications of what he said were staggering for us, our children and their children.

Krauthammer is a brilliant intellectual, seasoned & articulate.  He is forthright and careful in his analysis, and never resorts to emotions or personal insults.  He is NOT a fear monger nor an extremist in his comments and views.  He is a fiscal conservative, and has received a Pulitzer Prize for writing.  He is a frequent contributor to Fox News and writes weekly for the Washington Post.

The following is a summary of his comments:

1. Mr. Obama is a very intellectual, charming individual.  He is not to be underestimated.  He is a cool customer who doesn’t show his emotions. It’s very hard to know what’s behind the mask.  The taking down of the Clinton dynasty was an amazing accomplishment.  The Clintons still do not
understand what hit them.  Obama was in the perfect place at the perfect time.

2. Obama has political skills comparable to Reagan and Clinton.  He has a way of making you think he’s on your side, agreeing with your position, while doing the opposite.  Pay no attention to what he SAYS; rather, watch what he DOES!

3.  Obama has a ruthless quest for power.  He did not come to Washington to make something out of himself, but rather to change everything, including dismantling capitalism.  He can’t be straightforward on his ambitions, as the public would not go along.  He has a heavy hand, and wants to level the playing field with income redistribution and punishment to the achievers of society.  He would like to model the USA to Great Britain or Canada .

4. His three main goals are to control ENERGY, PUBLIC EDUCATION, and NATIONAL HEALTHCARE by the Federal government.  He doesn’t care about the auto or financial services industries, but got them as an early bonus.
The cap and trade will add costs to everything and stifle growth.  Paying for FREE college education is his goal.  Most scary is his healthcare program, because if you make it FREE and add 46,000,000 people to a Medicare-type single-payer system,the costs will go through the roof. The only way to control costs is with massive RATIONING of services, like in Canada.

5. He has surrounded himself with mostly far-left academic types.  No one around him has ever even run a candy store.  But they are going to try and run the auto, financial, banking and other industries.  This obviously can’t work in the long run. Obama is not a socialist; rather he’s a far-left secular progressive bent on nothing short of revolution. He ran as a moderate, but will govern from the hard left. Again watch what he does, not what he says.

6. Obama doesn’t really see himself as President of the United States, but more as a ruler over the world.  He sees himself above it all, trying to orchestrate & coordinate various countries and their agendas.  He sees moral equivalency in all cultures.  His apology tour in Germany and England was a prime example of how he sees America , as an imperialist nation that has been arrogant, rather than a great noble nation that has at times made errors.  This is the first Presidentever who has chastised our allies and appeased our enemies!

7. He is now handing out goodies. He hopes that the bill (and pain) will not come due until after he is reelected in 2012.  He would like to blame all problems on Bush from the past, and hopefully  his successor in the future.  He has a huge ego, and Dr. Krauthammer believes he is a narcissist.

8. Republicans are in the wilderness for a while, but will emerge strong. Republicans are pining for another Reagan, but there will never be another like him.  Krauthammer believes Mitt Romney, Tim Pawlenty & Bobby Jindahl (except for his terrible speech in February) are the future of the party. Newt Gingrich is brilliant, but has baggage.  Sarah Palin is sincere and intelligent, but needs to really be seriously boning up on facts and info if she is to be a serious candidate in the future.  Republicans need to return to the party of lower taxes, smaller government, personal responsibility, strong national defense, and state’s rights.

9. The current level of spending is irresponsible and outrageous.  We are spending trillions that we don’t have.  This could lead to hyperinflation, depression or worse.  No country has ever spent themselves into prosperity.  The media is giving Obama, Reid and Pelosi a pass because they love their agenda.  But eventually the bill will come due and people will realize the huge bailouts didn’t work, nor will the stimulus package. These were trillion-dollar payoffs to Obama’s allies, unions and the Congress to placate the left, so he can get support for #4 above..

10. The election was over in mid-September when Lehman brothers failed, fear and panic swept in, we had an unpopular President, and the war was grinding on indefinitely without a clear outcome. The people were in pain, and the mantra of change caused people to act emotionally. Any Democrat
would have won this election; it was surprising it was as close as it was.

11. In 2012, if the unemployment rate is over 10%, Republicans will be swept back into power.  If it’s under 8%, the Dems will continue to roll. If it’s between 8-10%, it will be a dogfight. It will all be about the economy. There is a left-wing revolution going on, according to Krauthammer, and he encourages us to keep the faith and join the loyal resistance.  The work will be hard, but we’re right on most issues and can reclaim our country, before it’s far too late.

All our futures and children’s futures depend on our good understanding of what is really going on in DC,and our action pursuant to that understanding!! It really IS up to each of us to take individual action!!

William S. Frankl, MD, All Rights Reserved