Tuesday, September 16, 2008Nightmare On Wall Street: Will Silly Season Finally Turn Serious? Plus: Obama Schedules Española, And: A Bunch Of Bottom Lines
Wall Street Pain
![]() While Mr. and Mrs. New Mexico stuff their mattresses with greenbacks and stash cash in coffee cans in the backyard, they also are digesting the news that oil has plunged below $100 a barrel and natural gas prices are now in the $7 area. That's still high, but way below what the Santa Fe bean counters are basing the next state budget on. What happens to that budget if the decline sticks? And, is anyone being called to account for forecasting oil and gas prices at an unrealistically high level? Just asking. One of the few good things to come out of the mortgage disaster is the restoration of at least some accountability. Treasury Secretary Paulson's refusal to bail out Lehman Brothers was the right call. Capitalism is a game with risk, but with a bailout or subsidy available around every corner--courtesy of the taxpayers--it has become anything but. Back here in River City, we have somewhat limited exposure to the wild swings of a free enterprise economy as government is responsible for most of the important spending. Sure, we need to diversify our economy, but the news that Sandia Labs is not going to be cutting any of its nearly 11,000 member work force or its over $2 billion budget, was timely indeed as we were showered with dreaded Wall Street developments. Sandia's management deserve a tip of the hat for the innovations that keep the Labs' economic engine powering the ABQ metro as do longtime US Senators Domenici and Bingaman who have watch dogged Sandia's funding. Los Alamos Labs is another story, but then you can't have it all. ESPANOLA IT IS ![]() Rio Arriba is the second most Dem county in the state. (Guadalupe at 84% is first). Eighty-one percent, or 19,554 of the county's 24,236 are Dem. In 2004, Kerry beat Bush there 65% to 34%, garnering 9,753 votes to Bush's 5,148. Obama needs to energize this county and get a bigger turnout and a bigger percentage of the vote. The same can be said for other Hispanic dominated counties like San Miguel and Mora. ANALYSIS & PERSPECTIVE We've covered ad nauseum the possible obstacles for Obama in the North--conservative Catholics, race-based voting and a general unfamiliarity with the newcomer. Obama will rally at Plaza de Española in a well-targeted visit that should give him a needed boost. As we blogged Sept. 11, our insiders inform that Obama will hold a high-dollar fund-raiser in ABQ following the Española visit. It was set up by Big Bill and will be at the North Valley home of Downs at ABQ operator Paul Blanchard. Governor Richardson is trying to tamp down speculation that Obama is having trouble nailing down the Hispanic vote. "All this talk that there's problems in the Hispanic community, there isn't," he said in announcing the Obama visit. Maybe Bill is right. But with the latest Rasmussen poll showing McCain with a two point lead here, nothing can be left to chance. The Guv opened an office for Barack in Santa Fe Monday. For what it's worth, in the TV coverage the old warrior seemed energized. It's probably not fair to put the fate of Obama in NM on his shoulders, but who said this game was fair? Get those shoulder pads out, Guv. SOS AND BILL ![]() RAZZING RASMUSSEN Rasmussen had Obama getting about 47% of the Hispanic vote in NM and Dem US Senate hopeful Tom Udall about 53%. But Udall backers point out he represents the northern district. Shouldn't his Hispanic numbers be higher? They probably are which is why his race against Republican Steve Pearce is probably more like 54% or 55% for Udall, not 51%. Remember, right after the primaries the Alligators set the "over under" on the Senate race at 53% for Udall. We're still tracking in that direction, but watching vigilantly. EAST RADIO Dan East ![]() NOW THAT'S TOUGH Tom Udall and Steve Pearce are no slouches when it comes to swinging the negative bat, but in the Minnesota Senate race it has become fine art. Last week we showed you one of the blasts slamming incumbent GOP Senator Coleman. Here's another --a Coleman ad going after Dem challenger Al Franken. THE BOTTOM LINES In reviewing Steve Pearce's anti-abortion ad Monday we said it contained a photo of a fetus. On a second viewing, we see it was actually a baby apparently resting on what appears to be its mother's stomach. Either way, the image is powerful...From the campaign of Dem US Senate contender Tom Udall: "Udall accepted the endorsement of the New Mexico Professional Firefighters Association and the International Association of Firefighters at The National Hispanic Cultural Center in Albuquerque."...John McCain is doing some Spanish TV in NM... ABQ Attorney Doug Antoon has been tracking the controversy over nonprofits playing in political campaigns in NM. He sends news of a federal ruling that will be of interest to those also following this ongoing story... Former Dem southern NM congressional candidate Bill McCamley, 30, has started a PAC that he says will raise money for candidates under the age of 35. If McCamley, a part-time Dona Ana County commissioner whose term expires at year's end, takes a salary from the PAC, he'll be helping at least one potential candidate in that age group.... What's happening? Drop us an e-mail and help cover the wonderful world of New Mexico politics. (c)NM POLITICS WITH JOE MONAHAN 2008 Not for reproduction without permission of the author |
![]() ![]() |