Monday Morning Blues

No Fun Day: Years ago teenager Brenda Spencer fired shots into a nearby school playground and while holed up in her home answered the telephone call from one of my colleagues on the San Diego Evening Tribune. "I hate Mondays, don't you?" she said. The quote made international news. A popular song was written based on that quotation from a very troubled girl. Today's news reminded me of Brenda Spencer's lament. The Dow Jones Industrial average dropped below 10,000 joined by double digit losses in the Nasdaq and S&P exchanges. The credit market remained frozen. Investors panicked searching for safe havens. President Bush's signing of the $700 billion market rescue plan may take a month to implement and many more to determine any impact on stalling or even stabilizing the home mortgage meltdown. Jobs fell. Factory orders continued to fade. More banks failed in Europe. Retirees saw their 401(k) retirement nest eggs dwindle. Working families saw their credit limits shrink. Even news in the fun and games department stunk. The jinxed Chicago Cubs, with 100 years of futility on their backs, saw their best chance in decades to reach the World Series evaporate by not winning a game in the first round of the playoffs. That was followed by my Chargers losing to Miami in the worst game they played this season. Of minor consequence, USC defeated Oregon in its 100-1 shot reaching a national championship BCS game.

A Ray of Hope: A search for positive news found only a Washington Post report on voter registration ranks swelled significantly that could change the Nov. 4 election in favor of the Democrats -- if they turn out to vote. In the past year, voter registration rolls have increased by 4 million in a dozen battleground states, 11 of which Barack Obama is targeting that President Bush won in 2004 and 2000. Democrats have attracted twice the number of new voters in Florida, outgained Republicans by a 4-1 margin in Colorado and Nevada and by a 6-1 cushion in North Carolina. Democratic registration in Florida now exceeds Republicans by a half-million. In North Carolina, Democrats have added 208,000 voters compared to 34,000 by the GOP. In Nevada, which Bush carried by 21,000 votes in 2004, Democrats have added 94,000 and Republicans 22,000. Republicans now trail Democrats by 81,000 in the Silver State. In Pennsylvania, a state John McCain is trying to snatch, Democrats have registered in the past year 474,000 new voters while the Republicans have lost 38,000. The Obama campaign projects that for every new voter they register, 80% will vote Democrat and 75% turn out. Although the voter registration drives may assist the Obama campaign, the overall impact of luring millions of new voters into our electoral process is good news. For all the chest-pounding Americans ballyhoo as champions of the democratic process, they are notoriously lax in exercising that right. A 50% voter turnout is considered good. Anything more than a 60% turnout in a presidential election is phenomenal. Such low expectations do not bode well in my book. If you don't vote, don't bitch.
Financing Fraud: Don't be surprised if the Federal Election Practices Commission launches an investigation into possible financial contribution irregularities involving the Obama campaign. Michael Isikoff in Newsweek reports thousands are contributing $200 each under phony names which indicates many may be exceeding the $2,300 maximum any one individual can contribute to a major political campaign. In one case, a donor identified himself as Good Will and place of employment at a Goodwill Charities branch in Georgia. The Obama campaign sent thank you notes to Goodwill Industries for months before the charity repsonded they were unaware of any contributions from its employees in addition to the fact such donations would be illegal from a non-profit group. The Obama campaign has raised the bulk of their contributions through the Internet from individual donors. Campaigns are not required to report donations $200 or less by names, addresses and occupations. Instead, they are lumped together for reporting purposes. Seems nothing escapes gaming the system.