OBAMA'S CROOKED CRONIES IN THE WALL STREET MELTDOWN
saltyfi...@gmail.com
Written by Jack Kelly
Thursday, 18 September 2008
There are a lot of people to blame for the subprime mortgage crisis
and this week's wall Street meltdown. Above all are the crooks and
mismanagers who ran the Federal National Mortgage Association (Fannie
Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) -
and their political enablers.
Fannie and Freddie were very good at greasing palms on Capitol Hill.
Fannie spent $170 million on lobbying since 1998, and $19.3 million on
political contributions since 1990.
The principal recipient of Fannie Mae's largesse was Sen. Chriss Dodd
(D-CT), chairman of the Senate Banking Committee. Number two was
Barack Hussein Obama.
Fannie bought most of its bad mortgages from Countrywide Financial,
whose CEO, Angelo Mozilo, gave sweetheart loans to senior executives
of Fannie Mae.
Sen. Dodd was also the second largest recipient in the Senate of
contributions from Countrywide's PAC and its employees. The number
one senator on Countrywide's list? Barack Hussein Obama.
rhf...@gmail.com
RHF
http://en.wikipedia.org/wiki/James_A._Johnson_(businessman)
http://a.abcnews.com/images/Politics/abc_johnson_obama_080611_mn.jpg
.
Jim Johnson Public Corruption and Economic Fraud
at Fannie Mae
http://online.wsj.com/public/article_print/SB121321030258665089.html
http://corner.nationalreview.com/post/?q=NWM3MDFkM2QwNzRjODk3NWZhZTc3OGIxNDQ4Nzc2NDc=
.
http://www.cbsnews.com/blogs/2008/09/19/politics/horserace/entry4460076.shtml
.
* Jim Johnson a former Fannie Mae CEO
* Fannie Mae 'cooked-the-books' and Jim Johnson
made Millions at the expense of the American
Taxpayers and Investors.
* VIDEO "What Obama Says... Can't Be Trusted"
http://s.wsj.net/public/resources/images/P1-AL908_Johnso_20080611213200.jpg
Barack Hussein Obama II's Defense of Jim Johnson
Raises Questions of Personal Integrity and
Political Honesty with America's Voters . . .
http://blog.washingtonpost.com/the-trail/2008/06/11/obama_defense_of_johnson_raise.html
.
Barack Hussein Obama II's reflecting and worrying
about the 'taint' of Jim Johnson
http://elections.foxnews.com/files/2008/06/johnson_obamasplit.jpg
.
salty...@gmail.com
cheley_b...@live.com
> > See Complete Republican Administration Corruption and Scandal List athttp://www.netrootsmass.net/Hugh/Bush_list.html/
Hey ! It's only about a Trillion Dollars !
Jobs? Rich People Don't NEED Jobs!
More of the Same
Vote McCain !
RHF
> On Sep 20, 3:01 pm, saltyfis...@gmail.com wrote:
>
> > > See Complete Republican Administration
> > > Corruption and Scandal > List at
> > > http://www.netrootsmass.net/Hugh/Bush_list.html/
- Hey ! It's only about a Trillion Dollars !
- Jobs? Rich People Don't NEED Jobs!
Many/Most so-called "Rich-People" do in-fact have Jobs.
> More of the Same
>
> Vote McCain !
First - Presently the yearly US Economy is ~$14T.
Failing to act, was seen as allowing another
Great Depression to occur with 25% Unemployment
for a period of 3-Years and long term economic
effects lasting for a Decade or more.
Doing-the-Math 25% of ~$14T is ~$3T : The Taxes
paid by those Unemployed Workers for those 3-Years
far "Off-Sets" the Bail-Out Money.
With the added Benefit of having those Workers
keeping their Jobs, Homes and Families; and
preventing the USA from having to go through
another Great Depression.
idtars ~ RHF
.
John Barnard
or not, this bailout is going to rough on the US economy.
JB
m II
> How many trillion dollar bailouts are you willing to tolerate? Like it
> or not, this bailout is going to rough on the US economy.
This thing is already starting to be called the Patriot Act of the
Financial world.
mike
dxAce
John Barnard wrote:
You just worry about the economy in CanaDuh, boy, and we'll worry about ours!
We sure don't need any help from committed Liberal/Socialist/Marxists such as
yourself.
Dave
That's how I see it. Did you read "Shock Doctrine"?
http://www.naomiklein.org/shock-doctrine
I've been saying for years that they're going to crash the economy and
change the rules while everyone's all adrenalined up, and it's actually
happening. I think a lot of dicks on this board owe me a fucking apology.
Dave
>
> You just worry about the economy in CanaDuh, boy, and we'll worry about ours!
>
> We sure don't need any help from committed Liberal/Socialist/Marxists such as
> yourself.
>
Bush nationalizes the banks and you call other people Socialist?
Hahahahahhahahahahahahahahahahaha
hihihihihihihihihihihihihihihihi
John Barnard
hands. It's my money tied up in the USA that I need to worry about. And,
since it is my money, I'll worry about your now current 3rd World economy.
You need to give up your fake life: fake Miami Indian and fake business
degree!
JB
dxAce
Then get your money out, boy. Take it home to YOUR 3rd World economy.
> You need to give up your fake life: fake Miami Indian and fake business
> degree!
You need to give up your fake life: fake intelligence.
F00kin Dumbass Canuck!
m II
> F00kin Dumbass Canuck!
__ __ __ __ __ __ __ __
/ /\Jerking off not enough for you, boy? / /
/ /\ \/ /\ \ Call me 616 335-9762\ \/ /\ \/ /
/_/ \/_/ \_/dx...@milestones.com \/_/ \/_/
As always, Men call FREE.
Ask about our Military Discounts.
Walk ins Welcome!
Mouth wide open, ready to take a load.
SE HABLA ESPANOL!
(Sign Rental Enquiries Welcome. Bulk Rates Available)
m II
> dxAce wrote:
>
>>
>> You just worry about the economy in CanaDuh, boy, and we'll worry
>> about ours!
>>
>> We sure don't need any help from committed Liberal/Socialist/Marxists
>> such as
>> yourself.
>>
>
> Bush nationalizes the banks and you call other people Socialist?
Check out his part of the new State Doctrine:
================================
Sec. 8. Review. - Decisions by the Secretary pursuant to the authority
of this Act are non-reviewable and committed to agency discretion, and
may not be reviewed by any court of law or any administrative agency.'
================================
mike
--
__ __ __ __ __ __ __ __
/ /\ / /\ / /\ / /\ / /\ / /\ / /\ / /
/ /\ \/ /\ \/This space for rent/\ \/ /\ \/ /
/_/ \/_/ \/_/ \/_/ \/_/ \/_/ \/_/ \/_/
Densa International©
For the OTHER two percent.
'Think tanks cleaned cheap'
Due to the insane amount of spam and garbage,
I block all postings with a Gmail, Google Mail,
Google Groups or HOTMAIL address.
I also filter everything from a .cn server.
For solutions which may work for you, please check:
http://improve-usenet.org/
dxAce
m II wrote:
> dxAce wrote:
>
> > F00kin Dumbass Canuck!
Like I said boy, f00kin Dumbass Canuck!
Telamon
Dave <da...@dave.dave> wrote:
I'm not offering you one when you continually bring up nut cases like
Alex Jones. This link you posted above is far out over the conspiracy
ledge as another bad example of the position you take. You expect people
to go from not thinking about these subjects to offering the extreme
edge of subject matter you can expect rejection.
Our country has been in decline for decades now and you can expect
things to break anyway. Nothing stays the same.
--
Telamon
Ventura, California
RHF
- How many trillion dollar bailouts are you
- willing to tolerate?
One More then a Great Depression in the USA
which would result in a GLOBAL Great Depression
for the World's Economy. =It's a World Economy=
- Like it or not, this bailout is going to
- rough on the US economy.
-
- JB
JB,
D'Oh ! - The US Economy is a 'significant'
part of the Global Economy and -if- the
US Economy becomes 'depressed' so will the
Global Economy since so much of the 'extra'
Capital in the World is invested in the
US Economy.
JB so you are cheering-on a "Great Depression"
for the USA with 25% or more Unemployment for
a period of 3-Years with Negative Economic Grow
and long term Economic Stagnation effects lasting
for a Decade or more.
REALITY-CHECK - This would be in-fact a World-Wide
Great Depression and Canada would 'feel' the effects
as much as the USA and Mexico [NAFTA]. China would
lose the USA as a major Export {Consumer} Customer
and the Chinese Global economy would slow down or
STOP [.] The Cost of Oil would skyrocket and the
cost of 'imported' Food would increase to the point
it would not be affordable. "Home-Grown" for some
would be the difference between Hunger and Starvation
for many who never had a Vegetable Garden before.
Any and All 'Bail-Outs' result in these added
real Benefits of having those American Workers
keeping their Jobs; staying in their Homes; and
keep their Families together; plus preventing
the USA {and the World} from having to go through
another Global Great Depression.
idtars ~ RHF
.
Dave
> Our country has been in decline for decades now and you can expect
> things to break anyway. Nothing stays the same.
>
Ronald Reagan began the dismantling of the USA. George Bush Jr.
finished it off. See you at the yard sale.
RHF
> m II wrote:
> > John Barnard wrote:
>
> >> How many trillion dollar bailouts are you willing to tolerate? Like it
> >> or not, this bailout is going to rough on the US economy.
>
> > This thing is already starting to be called the Patriot Act of the
> > Financial world.
>
> > mike
- That's how I see it. Did you read "Shock Doctrine"?
- http://www.naomiklein.org/shock-doctrine
Dave - Go Shock Yourself - Don't Expect Others
to Pay for you End-of-the-World Phobia.
- I've been saying for years that they're going
- to crash the economy and change the rules while
- everyone's all adrenalined up, and it's actually
- happening.
Dave - Typical Elitist Liberal {Democrat}
Drooling Over the Misforture of Others and
Dreaming of How "This" will allow them to
Grain Control and Dictate How Others Will Live
By Their Rules.
- I think a lot of dicks on this board owe me
- a fucking apology.
Dave - Dream On and Suffer in your own self-made
Liberal Elitist Delusions.
Dave - The US Economy is a 'significant' part of
the Global Economy and -if- the US Economy becomes
'depressed' so will the Global Economy since so
much of the 'extra' Capital in the World is
invested in the US Economy.
Dave - You are clearly a Cheer-Leader for a
"Great Depression" for the USA with 25% or
more Unemployment for a period of 3-Years with
Negative Economic Grow and long term Economic
Stagnation effects lasting for a Decade or more.
REALITY-CHECK - This would be in-fact a World-Wide
Great Depression and Canada would 'feel' the effects
as much as the USA and Mexico [NAFTA]. China would
lose the USA as a major Export {Consumer} Customer
and the Chinese Global economy would slow down or
STOP [.] The Cost of Oil would skyrocket and the
cost of 'imported' Food would increase to the point
it would not be affordable. "Home-Grown" for some
would be the difference between Hunger and Starvation
for many who never had a Vegetable Garden before.
Any and All 'Bail-Outs' result in these added
real Benefits of having those American Workers
keeping their Jobs; staying in their Homes; and
keep their Families together; plus preventing
the USA {and the World} from having to go through
another Global Great Depression.
Dave - Where -is- Your Humanity and Compassion
for your fellow Human Being Around the World
and in your own Country ?
idtars ~ RHF
.
Dave
>
> JB so you are cheering-on a "Great Depression"
> for the USA with 25% or more Unemployment for
> a period of 3-Years with Negative Economic Grow
> and long term Economic Stagnation effects lasting
> for a Decade or more.
Let's do it. We need to shake things up. Call their bluff. Let the
bodies hit the floor.
RHF
> Telamon wrote:
> > Our country has been in decline for decades now and you can expect
> > things to break anyway. Nothing stays the same.
- Ronald Reagan began the dismantling of the USA.
- George Bush Jr. finished it off.
- See you at the yard sale.
Dave,
Please go and breathe into a brown paper bag
for an hour or two as you need to deflate
your rhetoric a few psi; and get your feet
back on the ground.
~ RHF
.
RHF
> RHF wrote:
>
> > JB so you are cheering-on a "Great Depression"
> > for the USA with 25% or more Unemployment for
> > a period of 3-Years with Negative Economic Grow
> > and long term Economic Stagnation effects lasting
> > for a Decade or more.
- Let's do it.
NO - Economic Continuity and Stability is what is
NEEDED by the Government in the Publics Interest
and Wellbeing to "Promote the General Welfare"
of the Citizens of the USA.
- We need to shake things up.
NO - We Need the Understanding and Trust of the
American People to have Faith in America and Our
Public Leaders. The US's Example Will Lead the
World and Assure the World of Economic Continuity
and Stability around the World for all Governments.
- Call their bluff.
We Would Be Calling Our Own BLUFF and Distroying
Our Own Economy : Bad Medicine = Kill the Patient.
- Let the bodies hit the floor.
Dave - So you are for {Publically Advocating}
Killing-Off the US Economy in the interest of
your Polically Views :
* Very Liberal
* Very Elitist
* Sounds like Obamanomics©
Obamanomics© : Create Another Global Great Depression
. . . In the Name of World-Wide Economic Equallity
"The Baracking of America"© the process of Social and
Economic Engineering to bring about CHANGE We Can
Misbelieve In : Obamanomics© We Can Change The World
By Decapitalizing America and Destroying the USA.
Dave - Please go and breathe into a brown paper
John Barnard
companies tank. The upper level has become bloated and oblivious to
what's happening around them. Let's remove their golden parachutes and
obscene salaries and perks and force them to survive like the rest of
us. Might be fun to see how far a little empathy goes ....
JB
John Barnard
I can't see where you get any sort of cheering from the question. I
specifically asked "How many trillion dollar bailouts are you willing to
tolerate?". None too surprisingly, you didn't answer the question. Do
you really think that any economy is capable of several trillion dollar
bailouts without ill effects that can last a generation or more? One
will be bad enough.
Did you listen to Paulson as to who would benefit from the bailout? It
won't be the people who got sucked into these sub-prime mortgages and
couldn't really afford it in the first place.
JB
m II
I've heard the phrase that this monetary blackmail is a bad thing, but
it's far better than the alternative.
When you consider that the alternative is to let free enterprise and the
market place determine the outcome, the plan gets downright sinister.
If the proposal goes through, the new feudal system has truly arrived.
mike
--
__ __ __ __ __ __ __ __
Dave
Dave
> Dave wrote:
>> Telamon wrote:
>>
>>> Our country has been in decline for decades now and you can expect
>>> things to break anyway. Nothing stays the same.
>>>
>> Ronald Reagan began the dismantling of the USA. George Bush Jr.
>> finished it off. See you at the yard sale.
>
>
> I've heard the phrase that this monetary blackmail is a bad thing, but
> it's far better than the alternative.
>
> When you consider that the alternative is to let free enterprise and the
> market place determine the outcome, the plan gets downright sinister.
Call their bluff. No bailout.
RHF
- Let the whole mess collapse.
- It'll hurt rich people a lot more.
Dave - D'Oh !
Take a $100,000 away from a Rich Wealthy Women
and She is Still R-I-C-H !
Take a $100 away from a Poor Working Man and
He Is Flat BROKE [.]
It's About CREDIT : Credit Cards, Car Loan and
Home Mortgage and all this effect the Average
{Poor} Working Man, Women and Families then the
so-called Rich.
The USA is a Consumer Economy and Credit is the
Foundation of the American Economic System :
* The Average Family Uses Credit Cards and
has ~$3K in Floating Consumer Debt.
* * Most Americans Do Not Pay With Cash.
* * * STOP Consumer Credit and American Stores
and Businesses will CLOSE DOWN and People Will
Lose their Jobs.
* The Average Family Buys a Car/Truck ON-CREDIT
* * Most Americans Do Not Pay With Cash for a
Car/Truck.
* * * STOP Car/Truck Loans and American Car
Manufactures will CLOSE DOWN and People Will
Lose their Jobs.
* The Average Family Buys a Home ON-CREDIT
* * Most Americans Do Not Pay With Cash for a
Home.
* * * STOP Home Loans and the American Home
Building Industry will SHUT DOWN and People
Will Lose their Jobs.
dave - your politics would/will hurt the average
american and destroy people and families ~ RHF
.
-ps- Dave don't try and make American into another
Cambodia with your Killing Field Economic Dreams
and Quest for Liberal Democrat Political Power.
.
green...@cato.com
>snipped a half ton of tripe<
>snipped more of that tripe from RHF<
JB,
You know as well as most that the folks with sub-prime mortgages will
not receive benefit. However, they were no more sucked into that
mortgage as did they walk stupidly into it in the first place. The
principal behind the bailouts is to prevent the economy from further
collapse - which means saving the companies. The CEO's will not lose
their big-buck salaires; on a related note: it used to be that CEO's
made so much more because they took a greater risk and responsibility
- nowadays they seem to make obscene money regardless of the company's
success or failure which in effect says 'capitalism' isn't at work.
No, we cannot afford bailouts - and the damned thing is that to a
large degree we cannot affort to not have them, in some shape or form.
FWIW, I don't blame either party - I blame both parties for being
asleep at the wheel and not exercising proper regulation (per existing
law) of the lending market, I blame the lending agencies and the
folks stupid enough to sign up for loans that in no way could they
afford to sustain payment thereof. And once again - the largest
percentage of people, people who had nothing to do with this
situation, are going to pay the price.
RHF
- And once again - the largest percentage of people,
- people who had nothing to do with this situation,
- are going to pay the price.
wrong, Wrong. WRONG !
The Largest Percentage of People in the USA are :
* The Average Income Worker {Medium : $30K~$120K}
http://en.wikipedia.org/wiki/Working_class#American_working_class
* The Average Taxpayer
* The Average Voter
* The Average Consumer
They Are All One-and-the-Same "American Citizens"
This Financial Crisis is about CREDIT :
Credit Cards, Car Loan and Home Mortgage
and all this effect the Average Income
Working Man, Women and Families.
The USA is a Consumer Economy and Credit is the
Foundation of the American Economic System :
* The Average Family Uses Credit Cards and
has ~$3K in Floating Consumer Debt.
* * Most Americans Do Not Pay With Cash.
* * * STOP Consumer Credit and American Stores
and Businesses will CLOSE DOWN and People Will
Lose their Jobs.
* The Average Family Buys a Car/Truck ON-CREDIT
* * Most Americans Do Not Pay With Cash for a
Car/Truck.
* * * STOP Car/Truck Loans and American Car
Manufactures will CLOSE DOWN and People Will
Lose their Jobs.
* The Average Family Buys a Home ON-CREDIT
* * Most Americans Do Not Pay With Cash for a
Home.
* * * STOP Home Loans and the American Home
Building Industry will SHUT DOWN and People
Will Lose their Jobs.
This Largest Percentage being Working Taxpaying
Citizens can 'together' get through this National
Financial Crisis in a few Years
=OR= This Largest Percentage being Unemployed
Non-Taxpaying Citizens can 'together' Struggle
and Suffer through this National Financial
Crisis for a Decade or more.
the 'choice' is clear ~ RHF
.
RHF
>
> - Show quoted text -
U.S. Can Learn a Lesson from Japan : Japan's Slow
Response to Loan Problems of '90s Added to Japan's
Economic Doldrums for much of the Decade
http://www.yomiuri.co.jp/dy/business/20080923TDY04302.htm
.
RHF
- Citizens can 'together' get through this National
- Financial Crisis in a few Years
- =OR= This Largest Percentage being Unemployed
- Non-Taxpaying Citizens can 'together' Struggle
- and Suffer through this National Financial
- Crisis for a Decade or more.
-
- the 'choice' is clear ~ RHF
.
The Scramble to Save Global Financial Markets
is Centered on the USA's Financial Crisis
http://www.thisdayonline.com/nview.php?id=123073
The Global Economy -is- The Global Economy
http://en.wikipedia.org/wiki/Global_financial_system
* Economic Globalization
http://en.wikipedia.org/wiki/Economic_globalization
* Globalization Index [KOF Index]
http://en.wikipedia.org/wiki/Globalization_Index
KOF Index is somewhat distorted by Geography and
Population {Small Nations and/or Small Populations}
World Trade -is- World Wide Employment
http://en.wikipedia.org/wiki/The_Global_Economy
We Live in a Era of Globalization of Commerce
http://en.wikipedia.org/wiki/Globalization
.
John Barnard
The gap between poor and rich is increasing. Any system that favours one
group of people over another is one that doesn't deserve to be in
existence. Dave is right!
JB
John Barnard
it usually is. But I feel sympathy for the folks who bought into the
sub-prime mortgages. Most people just want a shot at owning some type of
equity and a house is a good way to do it. It gives them security or, at
least, a feeling of security. I don't doubt for a second that the
lenders would be giving that there wouldn't be any problems and that the
applicant could afford the mortgage (like little good snake oil
salespeople).
I hope that Wall Street doesn't get the idea that the government is
going to come to the rescue every time a collapse is imminent. It might
just make a company even more reckless.
Something needs to be done but saddling the taxpayer with the fallout
isn't right.
JB
RHF
>
> - Show quoted text -
.
U.S. Can Learn a Lesson from Japan : Japan's Slow
Response to Loan Problems of '90s Added to Japan's
Economic Doldrums for much of the Decade
http://www.yomiuri.co.jp/dy/business/20080923TDY04302.htm
.
The Scramble to Save Global Financial Markets
is Centered on the USA's Financial Crisis
http://www.thisdayonline.com/nview.php?id=123073
.
The Global Economy -is- The Global Economy
http://en.wikipedia.org/wiki/Global_financial_system
* Economic Globalization
http://en.wikipedia.org/wiki/Economic_globalization
* Globalization Index [KOF Index]
http://en.wikipedia.org/wiki/Globalization_Index
KOF Index is somewhat distorted by Geography and
Population {Small Nations and/or Small Populations}
.
World Trade -is- World Wide Employment
http://en.wikipedia.org/wiki/The_Global_Economy
.
We Live in a Era of Globalization of Commerce
http://en.wikipedia.org/wiki/Globalization
.
More Self-Destructive Democrat Yada Yada Yada :
Sarah Palin This... Sarah Palin That... Obama Obama Who???
http://groups.google.com/group/rec.radio.shortwave/msg/39aec05030a16541
.
dxAce
John Barnard wrote:
You just worry about CanaDuh, boy, and we'll worry about the USofA.
And maybe, just maybe, we'll bail you out too!
none
>>
> The little guy is already getting killed and to the benefit of the rich.
> The gap between poor and rich is increasing. Any system that favours one
> group of people over another is one that doesn't deserve to be in
> existence. Dave is right!
>
> JB
>
The richer they are the farther they fall, one and all.
none
How do you define "the economy"?
The economy is not the stock market.
m II
> And maybe, just maybe, we'll bail you out too!
"You fuckin' Liberal asswipes are always ready to give somebodys else's
goodies away..."
dxAce
--
__ __ __ __ __ __ __ __
/ /\ / /\ / /\ / /\ / /\ / /\ / /\ / /
/ /\ \/ /\'Think tanks cleaned cheap' /\ \/ /
/_/ \/_/ \/_/ \/_/ \/_/ \/_/ \/_/ \/_/
Densa International©
For the OTHER two percent.
Due to the insane amount of spam and garbage,
dxAce
m II wrote:
> dxAce wrote:
>
> > And maybe, just maybe, we'll bail you out too!
>
> "You fuckin' Liberal asswipes are always ready to give somebodys else's
> goodies away..."
And that's a fact, little girl.
John Barnard
have happened.
JB
RHF
>
> - Show quoted text -
Why {Don't} Worry Be Happy !
http://www.youtube.com/watch?v=yjnvSQuv-H4
Americans having 'Faith' in America
and 'Believing' in America's Leaders ~ RHF
.
none
> Why {Don't} Worry Be Happy !
> http://www.youtube.com/watch?v=yjnvSQuv-H4
>
> Americans having 'Faith' in America
> and 'Believing' in America's Leaders ~ RHF
> .
Fuck faith. That's what got us into this mess. A good slap in the face
with REALITY will do this country a world of good. Let Mr. Bush's house
of cards blow down. We're tough. We'll come out stronger on the other
side.
salty...@gmail.com
By George Will
"Members of Congress are being exhorted to stampede, like lemmings in
reverse, away from a postulated cliff. But some of the economic
geographers who say they know that the cliff is there, and that the
economy will plunge over it if Congress stops to think before
empowering the secretary of the Treasury to control the flow of
capital through the veins of American capitalism, are some of those
experts who said in March that prophylactic federal intervention in
the matter of Bear Stearns was necessary to contain the crisis.
Everything that has been done for the past six months has been done to
cope with what previous actions were supposed to prevent. A perhaps
pertinent axiom: There is no education in the second kick of a mule.
The essence of this crisis is lack of knowledge, including the
inability to know who owes what to whom, and where risk resides. In
such a moment, government's speed should not vary inversely with its
information. With government's prestige, measured by approval ratings
of the president and Congress, at a historic low, government is taking
on unprecedented responsibilities. Henry Paulson, a.k.a. the Fourth
Branch of Government, is intelligent and indefatigable and has as much
pertinent experience as could be hoped for. But no one has ever had
much experience that is pertinent to the tasks that would be assigned
to him by the three-page legislation that would give him almost
complete discretion over at least $700 billion.
Before Congress codifies this, it should consult Article I, Section 1
of the Constitution: "All legislative powers herein granted shall be
vested in a Congress of the United States, which shall consist of a
Senate and House of Representatives." But since the federal government
was transformed into a regulatory state in the 20th century, Congress
has routinely delegated essentially legislative powers to the
executive branch and independent agencies. This is one reason
conservatives regret the growth of government: It entails supplanting
the rule of law — laws written by elected representatives — by the
rule of rules written in the executive branch.
Rep. Barney Frank, who chairs the House Financial Services Committee,
says: "No one in a democracy, unelected, should have $800 billion to
spend as he sees fit. . . . That's not the way to run a democracy."
Frank is properly punctilious about a fundamental principle of
American governance — legislative control of public funds. But a
fundamental principle of American political economy is that no elected
person should exercise virtually unfettered discretion with such sums
of taxpayers' money.
In 1922, Lenin, attacked from the left because he was allowing some
small-scale private enterprise and agriculture, promised that the
state would control the Soviet economy's "commanding heights." In
1945, Britain's Labor Party explained its nationalization policies by
saying that socialism should include government "control of the
commanding heights of the economy."
In 1945 Britain, this meant the stuff of industrialism — iron, steel,
coal, railroads, etc. In 1945, Aneurin Bevan, a leading Labor
politician, said: "Britain is an island bedded on coal and surrounded
by fish; only an organizing genius could produce a coal shortage and a
fish shortage simultaneously." Socialism soon produced that.
Today, the commanding heights of America's economy are financial
services, and regarding them, the line between the public and private
sectors is being blurred to indistinctness. What is the American
equivalent of coal and fish? We might find out.
An enormous range of complex judgments will have to be made about who
will decide — and by what criteria — to whom money will be directed,
and how to value and price the financial instruments, and the assets
behind them, that the government might soon own. But these micro
problems, although quite huge, pale next to the macro problem, which
is:
This crisis has arrived during the ninth month of a vast demographic
deluge — the retirement of 78 million baby boomers. As the population
ages, the welfare state — primarily, a transfer-payments pump
providing pensions and medical care for the elderly — requires more
rapid economic growth to generate increasing revenue. To the extent
that today's crisis results in large amounts of capital being
allocated by considerations other than those of economic efficiency,
the nation will be consigned to less-than-optimal economic growth.
The next administration, but especially an Obama administration, will
chafe under severely narrowed economic restrictions. But subsequent
generations will pay the radiating costs of the rising role of the
state in allocating financial resources. "
Slim
BU$H appointed the head of the SEC.
--
"When fascism comes to America, it will be wrapped in the flag and
carrying the cross." - Sinclair Lewis
salty...@gmail.com
MACK DADDY
>
> - Show quoted text -
Bailing out those muddafuggas will only delay the depression. It will
not prevent it! Goddamn Republitards never learn that a certain
amount of taxes are necessary to pay for being the type of society we
are trying to be.
Bob Mathers
another $1 trillion for the bail out?
This is crazy! We'll never get out of debt.
What would happen if the U.S. defaulted on the debt? Wiped the slate clean
and started over?
Third world countries have done it. Why can't we?
Let's start over with a new gold backed currency and a constitutional
amendment that forbids the country from borrowing to meet its needs.
We need to be self sufficient. We need to stop importing from China and
elsewhere. Think about this for a second. Imagine a pissed off China
stopping all exports to the U.S. No more cheap electronics, no more cheap
clothing, no more cheap toasters. The list is endless. Most of the things we
use every day are made in China. What will we do if we can no longer buy
them? A lot of the things we use aren't made anywhere else. It's China or
nothing.
This has to stop! We need to encourage the construction of new factories in
the U.S., even if it means paying higher prices for the goods we use. We did
it before, we can do it again!
We also need to lower taxes to what they were prior to WWII. Only the
extremely wealthy paid any taxes at all. Get rid of the IRS and payroll
taxes!
"MACK DADDY" <pepsiv...@msn.com> wrote in message
news:3cb8ff5b-3dbd-4a71...@2g2000hsn.googlegroups.com...
RHF
> On Sep 24, 4:32 pm, saltyfis...@gmail.com wrote:
>
> > On Sep 24, 5:07 pm, Slim <s...@pickins.com> wrote:
>
> > > BU$H appointed the head of the SEC.
>
> > > --
> > > "When fascism comes to America, it will be wrapped in the flag and
> > > carrying the cross." - Sinclair Lewis- Hide quoted text -
>
> > - Show quoted text -
- Bailing out those muddafuggas will only delay
- the depression. It will not prevent it!
- Goddamn Republitards never learn that a certain
- amount of taxes are necessary to pay for being
- the type of society we are trying to be.
Yeah Let's Bring On The Next Great 'Obama' Depression
- Barack-the-World . . . I What To Get Off !
President-for-Life Barack Hussein Obama II has
promised Mexico to stop the mass flow of illegal
'poor' American immigration into Mexico by 2020.
NOTE - Presently the US Dollar is trading at
$20US to One Euro {~5 Cents in 2000 Dollars}.
Plus during his 3rd Term President Obama has
promissed to reduce American Unemployment
down to 30% by 2024.
President Obama claims the new program of
allowing Euro-Americans with the €100K Fee
to re-migrate to their respective European
Home-Lands is Working and has reduced the
US Unemployable Rate by 5% with over 15
Million being taken back by Europe. The EU
is still maintaining the €250K Cash Returning
Capital Entry Standard for Return.
Canada still claims that the 3-Tiered Wall
and Mine Fields along the US-Canadian Border
are still a necessary deterrent to Americans
attempting to flee into Canada. However those
Americans with the C$1M can still gain entry
into Canada as Preferred Cash Entry Citizens.
The newly 'independent' Nations of Alaska, Hawaii
Purto Rico are now CLOSED to the 'old' 48 Staters.
Cuba has announced that any American with €100K
{Euros} will be considered for entry provided
that they can show they speak Spanish.
President Obama is please that the new program
of allowing African-Americans with the €10K Fee
to re-migrate to a selective number of African
Home-Lands is also Working and has reduced the
US Unemployable Rate by 3% with over 10 Million
being taken back by Africa. These African
Nations are still maintaining the €100K Cash
Returning Capital Entry Standard for Return.
yes things are certainly looking up for those
americans with the cash to migrate and . . .
for everyone else there is mexico ~ RHF
http://www.americanthinker.com/blog/Obama%20Messianic%20Parade%20compressed.JPG
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