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Here's two interesting perspectives on the current financial crisis.  Both articles spread the blame around -- both administrations, the Fed, Wall Street and Congress.

• Alexander Cockburn writing for CounterPunch.
• In the Washington Post: Calling Out the Culprits Who Caused the Crisis

UPDATE: Contrary to positions put forth in the two links above is this post from Megan McArdle. She shoots down the notion that repeal of Glass-Steagall is a root cause of the current crisis.

It wouldn't be devestating if it weren't true.

Patrick Buchanan:

For years, we Americans have spent more than we earned. We save nothing. Credit card debt, consumer debt, auto debt, mortgage debt, corporate debt -- all are at record levels. And with pensions and savings being wiped out, much of that debt will never be repaid.

...

Up through World War II, we followed the Hamiltonian idea that America must remain economically independent of the world in order to remain politically independent.

But this generation decided that was yesterday's bromide and we must march bravely forward into a Global Economy, where we all depend on one another. American companies morphed into "global companies" and moved plants and factories to Mexico, Asia, China and India, and we began buying more cheaply from abroad what we used to make at home: shoes, clothes, bikes, cars, radios, TVs, planes, computers.

...

At home, propelled by tax cuts, war in Iraq and an explosion in social spending, surpluses vanished and deficits reappeared and began to rise. The dollar began to sink, and gold began to soar.

Yet, still, the promises of the politicians come. Barack Obama will give us national health insurance and tax cuts for all but that 2 percent of the nation that already carries 50 percent of the federal income tax load.

John McCain is going to cut taxes, expand the military, move NATO into Georgia and Ukraine, confront Russia and force Iran to stop enriching uranium or "bomb, bomb, bomb," with Joe Lieberman as wartime consigliere.

Who are we kidding?

What we are witnessing today is how empires end.

The Last Superpower is unable to defend its borders, protect its currency, win its wars or balance its budget. Medicare and Social Security are headed for the cliff with unfunded liabilities in the tens of trillions of dollars.

Here is a portion of the This Week round table on Obama, McCain and the financial bail out. Watch for conservative pundit George Will to slam McCain.

This is not a post telling you: Don't vote for Barack Obama. It's simply a warning that if you're one of those people with a bumper sticker that turns the "O" in Obama into a peace sign, you're mistaken to think Obama is the Peace candidate.

First, it's important to remember that while the Obama campaign has made much of his opposition to the Iraq invasion, the historical record suggests that Obama's position wasn't necessarily clear cut. Consider this post from Rep. Jim McGovern.

Talking about how he would have voted on the '02 authorization, Mr. Russert flashed a quote from then-State Senator Obama on the screen that said: "I'm not privy to Senate intelligence reports. What would I have done? I don't know." In response, Senator Obama said it was probably the wrong time for him to speak out on the war.

I simply disagree. I don't believe there has ever been a wrong time to oppose this war.

Mr. Russert also reminded Senator Obama about this comment he made in July of 2004: "There's not much of a difference between my position on Iraq and George Bush's position at this stage."

Obama's has never said he opposed over throwing Saddam Hussein (taking out Saddam was also an unrealized goal of the Clinton administration).  He's only said it was "the wrong war at the wrong time," which isn't a ringing endorsement for peace.

He isn't necessarily opposed to pre-emptive war, as Robert Kagan, writing for Washington Post, makes clear.

Obama never once says that military force should be used only as a last resort. Rather, he insists that "no president should ever hesitate to use force -- unilaterally if necessary," not only "to protect ourselves . . . when we are attacked," but also to protect "our vital interests" when they are "imminently threatened." That's known as preemptive military action. It won't reassure those around the world who worry about letting an American president decide what a "vital interest" is and when it is "imminently threatened."

In the most dangerous post-Iraq conflict the U.S. faces, Obama has made it clear that he's ready to go to war with Iran.  This from The Nation:

But Obama has refused to rule out going to war against Iran, in the event that Tehran moves forward with its nuclear program in defiance of international opposition. Even if it was a grudging nod to political expediency, his June 4 speech to the American Israel Public Affairs Committee (AIPAC) impressed hawkish Jewish leaders. "I will do everything in my power to prevent Iran from obtaining a nuclear weapon. Everything in my power... everything," he said, adding, "I will always keep the threat of military action on the table."

Obama has also said that if the U.S. had reliable, actionable intelligence on the location of Bin Laden, who is likely in Pakistan, he would launch a unilateral attack on the location, with or without Pakistan's permission -- a far bolder policy than even the Bush administration has been willing to pursue.

As for nation building, while Obama says he opposes "imposing" democracy on other nations, he's also said the U.S. has an obligation to spread freedom.

More from Kagan:

There is more to building democracy than "deposing a dictator and setting up a ballot box." We must build societies with "a strong legislature, an independent judiciary, the rule of law, a vibrant civil society, a free press, and an honest police force." We must build up "the capacity of the world's weakest states" and provide them "what they need to reduce poverty, build healthy and educated communities, develop markets, . . . generate wealth . . . fight terrorism . . . halt the proliferation of deadly weapons" and fight disease. Obama proposes to double annual expenditures on these efforts, to $50 billion, by 2012.

Writing for Reason, David Weigel notes that Obama's intervention tendancies are far reaching, writing, "He has called for, or retroactively endorsed, interventions in Zimbabwe, Pakistan, and Sudan."

The senator believes in humanitarian intervention so deeply that he's already blundered by interfering in the affairs of troubled states. Two years ago, on his first senatorial visit to Kenya, his father's birthplace, Obama delivered a speech at the University of Nairobi that blistered the country's rulers for corruption. Graft, Obama said, is "a crisis that's robbing an honest people of opportunities they have fought for." The speech emboldened the country's opposition, which nearly won the 2007 elections. When reformers didn't win and rioting voters cried theft, Obama begged for calm. "Despite irregularities in the vote tabulation," he said, now is not the time to throw that strong democracy away."

Kagan also notes the Obama wants to do more than redeploy troops from Iraq to other hot spots around the world. He wants to increase the size of the military.

With the United States $11 trillion in debt, Obama wants to increase the Pentagon's budget.  Again, from The Nation:

Obama's foreign policy team uniformly dismisses the idea that the Pentagon's bloated budget can be cut, even though, not counting spending on Iraq and Afghanistan, it has nearly doubled since 2000 and is roughly equal to the military spending of all other countries combined. "Are we or are we not relying on the Pentagon for an increased role? Of course we are," says McDonough. "I don't see how, given the challenges we have on the horizon, we can talk about reducing Pentagon spending."

Democrats have spent six years blasting neoconservatives, but I'm having a hard time seeing how Obama is anything but a neocon.  He believes strongly in U.S. intervention abroad, in spreading democracy, in preventive attacks on rogue nations and in building up the U.S. military. While Obama preaches diplomacy, completely absent from his foreign policy pronouncements are any mention of the U.N. Security Council, and he seems quite willing to go unilateral, if in his judgment it's necessary.

How does any thing Obama say about America's role in the world differ from the positions of much derided neocons like Paul Wolfowitz, Richard Perle, William Kristol, Norman Podhoretz?

But as I said at the start of the post, I'm not telling you to vote against Barack Obama.  John McCain is an imperialist hawk, as well. I'm just saying, don't be fooled into thinking Barack Obama is the peace candidate.

The College at Brockport web site has a short profile of Kelsey Conn, a runner originally from Batavia, who participated in Sophie's Run.

Conn was recently been named Female SUNYAC Cross Country Runner of the Week after finished 1st in the Brockport Invitational on September 13 with a time of 19:48.60. It was her first season running cross-country for the Golden Eagles and her first race of the season. The sophomore Communications major is also a key member of the Indoor and Outdoor Track & Field squads at Brockport and qualified for the NCAA Outdoor Championships and finished ninth in the 10,000 meter run.

We are introducing "Announcements" on The Batavian.

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To post an announcement, you must be a registered user. Once you are logged in, click on "create content," then "blog entry" and then in field that says "Tags" type "announcements" (Generally, as you start typing "annou .." the tags field will offer up an option of "announcements" and you can select that for insurance of conformity.

When that is done and you save your post, your announcement will automatically appear in that section.