Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

DUBOB 11- more tales from the Dark UnderBelly Of the Beast...
various links and websites | 01-31-03 | The Heavy Equipment Guy

Posted on 01/31/2003 5:07:21 PM PST by backhoe

At the request of members, I am restarting those "Tales from the Dark UnderBelly Of the Beast"-- the stories and issues that the press and media either ignore, won't even talk about, or will mention once and forevermore claim "it's old news..."

Naturally, some will be stories which interest me, or things I think we all need to be aware of.

I am experimenting with a minor change in presentation- when I can, I will cut to

-GoogleNewsBeta--

with a keyword or two and see what kind of links to "mainstream" stories I can find in contrast to what we see here and on other sites.

May I remind you of a couple of points to bear in mind?
Each link usually has many other links within- follow them all to get "the rest of the story."
Don't forget the "open multiple browsers" trick with control-n -- this allows you to hold your place with one, and use the others to follow links, run searches, etc.

Rather than go back and rehash old links, I'll give you links to the original posts here:

-DUBOB 10- the *best of* the Dark Underbelly Series--

-DUBOB 9-- even *more* tales from the Dark Underbelly of the Beast..... --

DUBOB 8-- still *more* tales from the Underbelly***

DUBOB 7-- even *more* tales from the Dark Underbelly of the Beast.....

DUBOB 6-- yet *more* tales from the Dark Underbelly of the Beast.....

DUBOB 5-- even *more* tales from the Dark Underbelly of the Beast.....

DUBOB IV- yet more Tales from the Dark Underbelly of the Beast-

DUBOB III -- "Tales from the Dark Underbelly of the Beast"

DUBOB 2-- more tales from The Dark Underbelly of the Beast-- thread II

-The Dark Underbelly of the Beast- Stories the Media won't Discuss...--


TOPICS:
KEYWORDS: americans4prosperity; davidharsanyi; dubob; erichoffer; kochbrothers; lamestreammedia; oldmedia; thetruth
Navigation: use the links below to view more comments.
first previous 1-20 ... 9,161-9,1809,181-9,2009,201-9,220 ... 12,501-12,502 next last
To: All

Dick Morris has been wrong in the past, but I agree with him here  McCain needs to take Obama's claim that he is responsible for this bailout fiasco AND MAKE HIM WEAR IT!

The Financial Mess: How We Got Here


9,181 posted on 09/29/2008 6:20:19 AM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: backhoe
How have I missed this thread the last 5 years?

Bookmarked

9,182 posted on 09/29/2008 6:22:28 AM PDT by TruthWillWin
[ Post Reply | Private Reply | To 9181 | View Replies]

To: All

NEW YORK POST: DOCS DETAIL BARACK TIES TO RADICAL.

While Barack Obama has long downplayed his connection to Bill Ayers, a co-founder of the violent Weather Underground radical group, new documents show the two worked much more closely together in starting an educational foundation than has been previously known.

The press has been trying to avoid covering this for months. Will they be able to keep it up until November? If not, it won't be for lack of trying . . . .

UPDATE: Much more here. "Radicalism disguised by a claim to be postideological."

http://www.okieonthelam.com/?p=2339

[Welcome, Anchoress readers! Updates at bottom.]

I wasn’t going to post today but after following a couple of links from The Anchoress I just have to. American Thinker’s James Simpson, a former White House staff economist and budget analyst, connects way too many dots that directly link Barack Obama to the most radical and destructive Leftist practices and strategies imaginable.

Despite the mass media news blackout, a series of books, talk radio and the blogosphere have managed to expose Barack Obama’s connections to his radical mentors — Weather Underground bombers William Ayers and Bernardine Dohrn, Communist Party member Frank Marshall Davis and others. David Horowitz and his Discover the Networks.org have also contributed a wealth of information and have noted Obama’s radical connections since the beginning.

Yet, no one to my knowledge has yet connected all the dots between Barack Obama and the Radical Left. When seen together, the influences on Obama’s life comprise a who’s who of the radical leftist movement, and it becomes painfully apparent that not only is Obama a willing participant in that movement, he has spent most of his adult life deeply immersed in it. [Emph mine]

These relationships are easy to see in this flow chart he provides.

ACORN's ties to Obama

The chart puts Barack Obama at the epicenter of an incestuous stew of American radical leftism. Not only are his connections significant, they practically define who he is. Taken together, they constitute a who’s who of the American radical left, and guiding all is the Cloward-Piven strategy.

Conspicuous in their absence are any connections at all with any other group, moderate, or even mildly leftist. They are all radicals, firmly bedded in the anti-American, communist, socialist, radical leftist mesh. [Emph mine]

Be sure and also follow that link to discover what Cloward-Piven really is, how long it’s been in practice, how it has already affected you directly, and how it is intertwined in the current financial crisis mess. Simpson presents a laundry list of radical Leftists, their organizations and interactions and interrelationships with Barack Obama:

Saul Alinsky

Most people are unaware that Barack Obama received his training in “community organizing” from Saul Alinsky’s Industrial Areas Foundation. But he did. In and of itself that marks his heritage and training as that of a radical activist. One really needs go no further. But we have.

Bill Ayers

Obama objects to being associated with SDS bomber Bill Ayers, claiming he is being smeared with “guilt by association.” But they worked together at the Woods Fund. The Wall Street Journal added substantially to our knowledge by describing in great detail Obama’s work over five years with SDS bomber Bill Ayers {…}

Theresa Heinz Kerry’s favorite charity, the Tides Foundation. A partial list of Tides grants tells you all you need to know: ACLU, ACORN, Center for American Progress, Center for Constitutional Rights (a communist front,) CAIR, Earth Justice, Institute for Policy Studies (KGB spy nest), National Lawyers Guild (oldest communist front in U.S.), People for the Ethical Treatment of Animals (PETA), and practically every other radical group there is. {…}.

Carl Davidson and the New Party

We have heard about Bomber Bill, but we hear little about fellow SDS member Carl Davidson. According to Discover the Networks, Davidson was an early supporter of Barack Obama and a prominent member of Chicago’s New Party {…} Obama sought and received the New Party’s endorsement, and they assisted with his campaign. {…}

George Soros

{…} The President of his Open Society Institute is Aryeh Neier, founder of the radical Students for a Democratic Society (SDS). {…} Neier is firmly committed to supporting the hugely successful radical organization, ACORN, and would be certain back their favored candidate, Barack Obama.

ACORN

Obama has spent a large portion of his professional life working for ACORN or its subsidiaries[.] {…}

If that’s not enough to curdle your milk, then contemplate the following questions asked by Simpson that the Obama-worshiping MSM never will:

I ask you, is it possible ACORN would train Obama to take leadership positions within ACORN without telling him what he was training for? Is it possible ACORN would put Obama in leadership positions without clueing him into what his purpose was?? Is it possible that this most radical of organizations would put someone in charge of training its trainers, without him knowing what it was he was training them for?

As a community activist for ACORN; as a leadership trainer for ACORN; as a lead organizer for ACORN’s Project Vote; as an attorney representing ACORN’s successful efforts to impose Motor Voter regulations in Illinois; as ACORN’s representative in lobbying for the expansion of high risk housing loans through Fannie Mae and Freddie Mac that led to the current crisis; as a recipient of their assistance in his political campaigns — both with money and campaign workers; it is doubtful that he was unaware of ACORN’s true goals. It is doubtful he [Obama] was unaware of the Cloward-Piven Strategy. [Emph mine]

This is highlighted by an Obama statement — in his own words:

I’ve been fighting alongside ACORN on issues you care about my entire career (emphasis added). Even before I was an elected official, when I ran Project Vote voter registration drive in Illinois, ACORN was smack dab in the middle of it, and we appreciate your work. - Barack Obama, Speech to ACORN, November 2007 (Courtesy Newsmax.)

Simpson then closes with this devastating accusation against Obama:

Barack Obama, the Cloward-Piven candidate, no matter how he describes himself, has been a radical activist for most of his political career. That activism has been in support of organizations and initiatives that at their heart seek to tear the pillars of this nation asunder in order to replace them with their demented socialist vision. Their influence has spread so far and so wide that despite their blatant culpability in the current financial crisis, they are able to manipulate Capital Hill politicians to cut them into $140 billion of the bailout pie! [Emph mine]

Barack Obama — the candidate of CHANGE, that’s for sure!

Radical, Leftist, Destructive change!

[Update: See pics of Richard Andrew Cloward and Frances Fox Piven plus a review of their first big success over at Cheat-Seeking Missiles. Laer calls Obama a Trojan horse. Me? I’m beginning to think that he’s the real-thing Manchurian Candidate.]

Technorati Tags: , , , , ,

 
================================================
 

SO HERE'S YOUR PROBLEM: CO2 emissions are up, but the increase is coming from poor countries. That's why, if you really care about carbon emissions, you can't follow the two-sided Kyoto approach. U.S. emissions will probably fall over the coming years, but it won't matter because of much greater increases from China, India, and Bangladesh.

Meanwhile, Europeans are now talking about abandoning their carbon-emission limits in the face of economic problems.


9,183 posted on 09/29/2008 6:28:16 AM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

Gas Shortage Spreads Beyond Deep South

Citigroup to buy Wachovia banking operations [Bailout now moot?]


9,184 posted on 09/29/2008 6:43:06 AM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

Newt on Glenn Beck - We are heading for something worse than the 1929 Crash (inevitable almost)

Newt did say if he was the last deciding vote on this package he would now probably vote for it, only because those he had spoken to (private citizens with real money but not in the market) let him know we are extremely close to total loss, worse than 1929, America doesn’t really know how close in fact.

In Times of Crisis, Trust Capitalism

 

DUmmie FUnnies 09-29-08 (Reagan Derangement Syndrome In DUmmieland)

Okay, the announcement you've all been waiting for about Joe Biden. On July 23, 1986 Joe Biden suffered a complete mental meltdown, captured on video, when he was questioning Secretary of State George Schultz. this video also appeared on all three major networks at the time, ABC, NBC, and CBS, it is also at the Vanderbilt University News Archive. Therefore, I am asking anybody interested (which is probably quite a few of you), especially in the Nashville area, to go to those newscast archives and obtain a copy of the newscasts on the major networks for July 23, 1986. Your jaws will drop when you actually see the video.
 

Rasmussen 0 50 - M45 for the third day in a row

Sarah the Slasher


9,185 posted on 09/29/2008 7:14:11 AM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

HOUSE DEFEATS BAILOUT BILL

But...They are holding this vote open for some arm twisting switches.

Rush echos The Anchoress

I said it on September 26, and I think I said it first: I am sure that things are in deeply serious and yes, something needs to be done, but there is also something illusory at work here. I wrote:

It seems to me that there is an illusion being worked in the middle of all this frenzy; if during this crisis, the Democrats can still worry about laying themselves out for ACORN, and Harry Reid can take the time to try to sneak a ban on oil shale mining into new legislation, then that tells me something. It tells me there is time and room, here, and that more is driving this than we can see. It makes me wonder if we should not hit the brakes before we go over a cliff, because we couldn’t clearly see the bend in the road.

A short time later, I noted some skepticism from The Volokh Conspiracy. Then I noticed Glenn Reynolds observe:

You know, it would be easier for me to believe this was a crisis, if the people in charge were acting like it was a crisis, instead of just an opportunity for graft. Then again, to some of these people, everything is just an opportunity for graft.

Just now, out driving, I heard Rush Limbaugh open his show with a musing that - while we are clearly in a serious situation - the people running in hysterics about the “crisis” are still not acting like there is a “crisis” - that Mrs. Pelosi and her crew could have done what they wanted without looking to the right for “cover,” and a true “crisis” would have demanded that she do exactly that. Nearly ten days into the frenzy - breathlessly reported by the same cheerleader press who cried through Katrina (but not Ike) and never corrected their reports of murders in the Superdome - we still have no legislation.

Harry Reid was able to say, “We need, now, the Republicans to start producing some votes for us. We need the Republican nominee for president to let us know where he stands and what we should do.” then turn around and play presidential politics with it.

It’s all presidential politics. I’m convinced of it. I became most convinced of it when Barack Obama went on the Sunday shows yesterday and took full credit for the “bailout” plan he now says he is giving only “cautious support.”

Hello?
If it’s your baby, Sen. Obama, or the brilliant brainchild of your own party, why are you being so “cautious” with your support? Hello? If all of this about more than simply beating up your candidate with an inconsistent stick, why aren’t you behind this thing? Why - during this “terrible crisis” - are you comfortable playing politics and circling around in a holding pattern (working it for all the political advantage you can squeeze) and attempting to develop a narrative on what you are calling “McCain’s Katrina-like response”? Did you miss the part, Sen. Obama, where Harry Ried begged McCain to come back, and he suspended his campaign? Is there time for building narratives and circling around - dragging things out as close to the election as possible - if we are in a time of unprecedented “crisis”?

Hello? The GOP leadership says were it not for McCain the Democrats would have steamrollered them. So, why did the Dems insist on GOP support at all, except for a need to blame, blame and blame?

I’m disgusted.

Everyone says we need the bailout. Fine, yes, we must do something. But I’m convinced the frenzy we’ve been fed for the last ten days is theater; I’m not buying into it anymore. This is precisely the “presidential politics” the execrable Harry Reid was so egregiously, disgustingly quick to accuse of John McCain.

Related: Jimmie Bise wonders if McCain is putting the country before his campaign?

Ace: Did Paulson 700 Billion out of his ass?. No, out of yours and mine, actually.

Dennis Miller on the egregious Reid

Barack Obama called for a total handgun ban in 1996

NRA to Fight Obama Over Gun Rights Flip-Flops ($15 million in ads to help defeat Obama)

CBC News apologizes for web column attacking Palin

 
===============================================
 
 Parenting With E.D. Hill: Why Children's Manners Matter
 Who defines feminism?
 
IS BIG BROTHER riding shotgun? "When the Germans — who, after the Gestapo and the Stasi, know a little something about surveillance and the loss of privacy — ban these devices, why should we let them into our daily lives?"

HAPPY NEW YEAR TO ALL FELLOW JEWISH FREEPERS

The New Case Against Immigration: Both Legal and Illegal, Mark Krikorian(book review)


9,186 posted on 09/29/2008 11:00:36 AM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

Game Plan for Palin Is Retooled Ahead of Debate (Davis, Schmidt Take Over Debate Prep)

THE OBAMA POLICE STATE - PART 3 ALL OUT WAR ON DEMOCRACY&THE CONSTITUTION/TAKING OUR COUNTRY BACK

 
================================================

Legalization of Same-Sex Marriage Will Increase Prevalence of Homosexuality: Voters Unaware

Anti-Homosexual Marriage Protesters in CA Receive Violent Threats at Disneyland

Zimbabweans overwhelm banks seeking cash

Give me liberty and give me death


9,187 posted on 09/29/2008 11:32:02 AM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

Young conservative Paul Ryan (R-WI), who helped lead the House GOP revolt a few days ago, just made a passionate plea for his colleagues to back the bailout.

“This bill offends my principles but I’m going to vote for this bill in order to preserve my principles... to preserve [the free enterprise system],” he said. “This is a Herbert Hoover moment.. he made mistakes during the Great Depression... Let’s not make those mistakes... If we fail to do the right thing, heaven help us—if we fail to pass this I fear the worst is yet to come.”

He then added a tart critique of the Bush administration’s rush to pass the bill, saying its predictions of catastrophe if it’s not passed have become a self-fulfilling prophecy. “I think the White House bumbled this thing—they have brought these issues up to a crescendo, a crisis so that all eyes are on Congress [so] we have to deal with this panic.”

He went on to urge his fellow Republicans not to say, “I want you to vote for it, not me.”


9,188 posted on 09/29/2008 11:50:40 AM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All
A Terribe Mistake
A Terrible Mistake
by Tom deSabla | September 29, 2008

Many sage commenters have claimed the bailout plan is a bad idea. It’s been described as “Socializing Risks while Privatizing Profits.” True enough, but that description apparently doesn’t carry much weight, especially since the term “socialization” doesn’t bother many people these days. Other folks say that the free market has failed, and new regulations are needed – but they don’t satisfactorily explain why the existing regulations weren’t enough - after all, we had plenty of them. Closest to the mark are those who say the plan “threatens the dollar” but even they don’t explain what that means.

Bailout proponents have sympathized with all the above, but they still say we must have the bailout to prevent a financial meltdown, or “systemic risk” to our financial system. Theirs is a potentially fatal misunderstanding. The main risk from doing nothing is that many banks and financial concerns will take huge losses and maybe even go bankrupt, possibly all of them. That, we are told, is the systemic risk, which must be prevented at all costs. I don’t agree at all. It is the very costs of prevention that are the real risk.

Although the more savvy observers are pointing to the lurking problems with derivatives, particularly the 62 trillion in
credit default swaps, it seems to me that if these derivatives were to become worthless, the threat to the real economy is overstated, unless they were somehow transformed into claims on goods and services. Unfortunately, that is exactly the process that is well underway, with mortgage-backed securities and other worthless or illiquid paper being traded for, or used as collateral for loans of, liquid instruments – cash for trash – some have called it. This is, of course, the huge underwater portion of the iceberg that the government hasn’t even acknowledged yet; but I’d like to step back and look at the whole mess from yet another angle.

The primary misconception I’d like to focus on is the underlying assumption that our financial institutions essentially ARE our economy, and that it cannot function without them. We are told that without this bailout we may suffer another Great Depression. What our limited imaginations cannot conceive is that risks exist that are far greater than that. Recall, we were given the Fed in 1913, ostensibly to prevent bank failures like the panic of 1907. Of course, within 20 years we had even more bank failures, followed by massive government intervention. Contrary to popular belief, that intervention fixed nothing and
made things worse. By contrast, the 1907 crisis, during the gold standard era, and prior to the Fed’s existence, lasted only two years.

Also contrary to popular belief, there was no real systemic risk either in 1907 or during the Great Depression. The linchpin of any economic system is the quality of the money; and unlike now, the dollar was never at risk then – it actually gained purchasing power during the Depression. This notion that our entire economy depends on financial institutions is a myth promoted by bankers and their enablers. The main support for this myth is the claim that producers are dependent on the financial institutions for the credit they need, and without a ready supply of that credit, the entire real economy may grind to a halt along with the financial economy.

If we would just stop and think about it for a second, this should not be the case at all, because whether banks fail or not, nothing has really happened to producers’ ability to produce, because they still have their factories, tools, skills, and inventory. Also, bank failures do not really affect the needs of real people for those goods. Yes, banks and financial institutions are a bigger part of the economy than they used to be; and producers and consumers are more dependent on them than they used to be. However, history reminds us that this outsized role for financial institutions was not needed for a healthy economy in the past, and it isn’t needed now either.

Here is where
Antal Fekete’s and Bill Koures’ research on the mostly-forgotten Real Bills Doctrine re-enters the picture. They are the missing link in this discussion of how and why these modern financial institutions have attained such a large and, we are now told, indispensable role in funding our real economy. Now, what we are really seeing with this crisis is not just the results of abandoning the gold standard itself, but also the results of the deliberate usurpation of the complementary role that Real Bills of exchange were playing in our pre-Fed economy. The central banking community didn’t like these bills of exchange because they were, as Koures points out, an emergent market phenomenon.

They evolved, without being planned, independent of the control of bankers, to supplement the gold standard as a means of funding the production of consumer goods. This was unacceptable to the bankers and their statist supporters, who desired central control of the money supply, and central control of the economy. So, as a result, first the discounting of the bills of exchange was taken over by the central bank through the “discount window” and then the bills themselves were
systematically discredited, and bank lending to support all goods production was substituted in their place. Now, at long last, despite all the years of delay, despite the spreading of their false doctrine of fiat money and central banking all over the globe - the inevitable results are clear.

Central banks and their debt-based fiat money simply cannot properly fund production for a stable real economy. Their methods are too crude, and do not allow for the proper transmission of supply and demand signals between producer and consumer. They can only suck a society and a government into debt so deeply that they cannot get out. That is where we are, and why. This crisis is nothing more than the preordained failure of their attempt to substitute central planning for the free market. Central banks have usurped control over aspects of the economy that were none of their business - aspects that the free market was already handling - and they have totally blown it.

And, of course, like all statists, they won’t admit their failures, and instead blame the results of their system instead of the system itself. That’s why they focus on secondary effects such as the “housing boom” and “reckless lending” and even “insufficient oversight,” instead of the root of the problem. As they twist and squirm, looking for excuses, they desperately want to keep their flawed process going instead of ending it. This cannot be done without infecting and destroying more and more of the real economy by more central control, and by debasing the currency in order to bail them out from the consequences of their failed ideology.

To get out of their trap, all we need to do is remember that the real engines of economic prosperity are and always have been the producers of real goods and services, and the people at-large, and that all these engines have ever really needed is a stable currency to conduct their business in. Ironically, currency stability has never been a concern of big-government central bank defenders and enablers and that stability is exactly what this desperate, ill-conceived bailout is putting at serious risk. By attempting to get themselves out of the frying pan, they are willing to throw our entire society into the deadly fire of currency debasement.

What is the real meaning of currency risk, and why are we subject to it now? As to the former, in Weimar Germany the entire society was turned upside down, with life savings destroyed, putting rampaging gangs of youths on an equal economic footing with solid German citizens who had worked and saved their whole lives. The resulting chaos cleared the way for Hitler as no other economic crisis ever could. The same thing is happening in
Zimbabwe now, with London School of Economics graduate Robert Mugabe presiding over the whole thing. Never mind the financial sector; their entire economy is in ruins.

The reason we are at risk is that 95 years of central banking and debt-based currency have left us with a ten trillion dollar national debt;
99 trillion of unfunded obligations; no national savings; and leaders who do not acknowledge the foregoing facts. We continue to require 60 billion dollars a month in outside funding. Another little-understood complication is that there are trillions more dollars around the world, both piled up in central bank “reserves” and in the hands of the world community for many purposes, most notably the purchase of oil, which the Bretton Woods agreement required.

These conditions already cry out for higher interest rates, and funding this bailout will force our creditors to finally demand them. Also, if the government admits to 700 billion now, history tells us the real amount will be far greater. Remember, talk of “spending” by Congress ignores the fact that our government has no money. Any money we need, we must borrow. Alternatively, we could just print up the money we need, but either way the dollar will be devalued. But that’s just the beginning. If foreign creditors get the idea that their holdings are at serious risk, they will liquidate those holdings quickly, greatly compounding the devaluation.
Rumblings in the foreign press indicate they are finally figuring this out.

In sum, no matter how badly the government may want to make
the mistake of propping up housing prices, they cannot be maintained at current levels in a high-interest-rate environment. Unfortunately, the inflationary consequences of borrowing the trillions actually required will discourage creditors from further lending and also encourage the repatriation of foreign-held dollars before they lose their value. Both of these results will necessarily drive up interest rates – thereby canceling out the intended effects of the bailout. In fact, these factors will do much more than cancel out the bailout; they will reverse it with a terrible vengeance. Once that process begins in earnest, the velocity of money will increase so much that hyperinflation will be inevitable.

Currency risk is the worst systemic risk of all, dwarfing the pain of any depression we have ever experienced. And we’re making it happen.

http://www.financialsense.com/fsu/editorials/2008/0929c.html

9,189 posted on 09/29/2008 12:18:51 PM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

McCain cannot lose "IF" he siezes this opportunity

Bailout plan failed due to 41% of House DEMs voting against it.

 
Please visit these two Web pages:

http://www.americanthinker.com/2008/09/barack_obama_and_the_strategy.html

http://www.discoverthenetworks.org/groupProfile.asp?grpid=6967
 

Not so much bail-out as rip-off

 

What does a community organizer do? Pressure banks to make bad loans

Palin Says She's Ready To Rumble


9,190 posted on 09/29/2008 12:59:22 PM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All
http://pajamasmedia.com/rogerkimball/2008/09/29/who-caused-the-biggest-financial-crisis-since-the-great-depression/
 

Who caused “the biggest financial crisis since the Great Depression?”

Powerline links to a video that answers this question with admirable clarity. I’ll link to the video below. First, here are a few data points from the video and other sources:

The Root Cause

* According to Senator Chris Dodd (D. CT) the “root cause” of the problem is “the housing foreclosure crisis.”

Not 100% accurate, perhaps–it’s really a credit crisis–but close enough for government work, especially from someone who has just happens to chair the Senate Banking Committee and who, completely coincidentally, has been such a conspicuous beneficiary of preferential mortgages and who, also coincidentally, leads the list of those who have received campaign contributions from Fannie Mae and Freddie Mac. (Guess who comes in 2nd and 3rd?)

* But what caused the housing crisis to which Senator Dodd alludes? The housing “bubble.”

* And what caused the housing bubble? “Sub-prime,” i.e., risky, mortgages; that is, mortgages made to people who, in the normal course of things would have to pay a premium in order to obtain a mortgage (if they could obtain one at all) because

a) they had bad or non-existent credit

b) their income was insufficient or

c) both.

Packaging the American Dream

A home of your own. It’s part of the American dream. Work hard, save up for a down payment, pay your bills on time and, presto, you, too, can buy a home.

For decades the government has done things to help Americans to realize the dream, e.g., graciously allowing citizens to keep some of their own money to help pay for the interest on a mortgage (the official term for this is a “tax deduction,” but I prefer my locution since it emphasizes the fact that it is YOUR MONEY we are talking about).

But what about people who do not work hard (if they work at all)? What about people who have not saved up for a down payment? What about people who do not pay their bills on time (if they pay them at all)? Why shouldn’t they get to live the American dream?

That was the question that led to

 ”The Community Reinvestment Act” (see here for more).

* The original Community Reinvestment Act was signed into law in 1977 by Jimmy Carter. Its purpose, in a nutshell, was to require banks to provide credit to “under-served populations,” i.e., those with poor credit.

The buzz word was “affordable mortgages,” e.g., mortgages with low teaser-rates, which required the borrower to put no money down, which required the borrower to pay only the interest for a set number of years, etc.

* In 1995, Bill Clinton’s administration made various changes to the CRA, increasing “access to mortgage credit for inner city and distressed rural communities,” i.e., it provided for the securitization, i.e. public underwriting, of what everyone now calls “sub-prime mortgages.”

Bottom line? It forced banks to issue $1 trillion in sub-prime mortgages.

$1 trillion, i.e., a thousand billion dollars in sub-prime,i.e., risky, mortgages, in order to push this latest example of social engineering.

But wait: how did it force banks to do this? Easy. Introduce a federal requirement that banks make the loans or face penalties. As Howard Husock, writing in City Journal way back in 2000 observed: “Bank examiners would use federal home-loan data, broken down by neighborhood, income group, and race, to rate banks on performance. There would be no more A’s for effort. Only results—specific loans, specific levels of service—would count.” Way back in 1994, for example, Barack Obama sued Citibank on behalf of a client who charged that the bank “systematically denied mortgages to African-American applicants and others from minority neighborhoods.”

* In 1997, Bear Stearns–O firm of blessed memory–was the first to get onto the sub-prime gravy train.

* Fannie Mae & Freddy Mac–were there near the beginning, too.

Anatomy of a bubble

Step 1. The intoxication: “My house is worth millions!” From 1995 - 2005, the number of sub-prime mortgages skyrocket. So did the house prices.

Step 2. The hangover: “Oh my God, my house isn’t selling. What went wrong?”

Why didn’t someone try to stop it?

Someone did: “The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago,” The New York Times, September 11, 2003.

But someone intervened to stymie the Bush administration. Who? The New York Times reports:

Supporters of the companies said efforts to regulate the lenders tightly under those agencies might diminish their ability to finance loans for lower-income families. . . . “These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. “The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”

Why didn’t someone else ring the alarm?

Someone else did. In 2005, John McCain  co-sponsored the “Federal Housing Enterprise Regulatory Reform Act,” which among other things provided for more oversight of Freddie & Fannie. The bill didn’t pass. Guess who blocked it?

The bill was reintroduced in 2007. But again, no luck. Fannie Mae and Freddie Mac had friends in the Senate:

* Chris Dodd, a recipient of “sweetheart” loans from a Freddie and Fannie backed company.

* The junior senator from Illinois, i.e., Barack  Obama, who turned to Jim Johnson, former head (1991-1998) of Fannie Mae, to help advise him on whom to pick for the vice-presidential slot on his ticket. From 1985 to 1990, incidentally, Johnson was managing director of Lehman Brothers. Remember them?

* You might also want to check out one of Barack Obama’s other advisors: Franklin Raines, former CEO of Freddie Mac: see here , for example, or here , or here.

Towards the end of the video, we read this salutary observation: “Everyone deserves a home, not a house of cards.”

Who gave us the house of cards? Watch the whole thing here. And then pass it along to everyone you know.


9,191 posted on 09/29/2008 1:11:51 PM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All
IN THE POST, MORE ON THE CLOSE CONNECTIONS between Obama and ACORN.
 

SCORCHED EARTH.

Some related thoughts from Rand Simberg.

Plus, at Bloomberg, Silencing Critics Using the Barack Obama Method.

 
ROGER KIMBALL: Who caused “the biggest financial crisis since the Great Depression?”
 
Survival kits
 

Rush In a Hurry - September 29, 2008

» Zev Chafets: What Rush Wants, He Gets, When it Comes to McCain's Campaign

Pearl of Wisdom: "The socialist bailout failed because so many Democrats opposed it. Where was the community organizer, Obama, getting his people in line? Nancy Pelosi can point fingers at Republicans, but Democrats have a majority. They could have passed this bill without a single GOP vote. What does this tell you about the bitter clingers in these Democrat districts? This has huge general election consequences."

In 2004, Republicans held an oversight hearing on Freddie Mae and Fannie Mac. They warned us about this crisis back then, but Barney Frank, Maxine Waters, and other Democrats charged racism. Franklin Raines, the disgraced thief Democrat CEO of Fannie Mae, insisted the loans were "riskless." (Rush 24/7 Members: Listen Here)
» 2004 Video Montage: Democrats Defend Fannie/Freddie from Regulation
» 2004 Articles: A Gutsy David Takes On a Goliath » Fraud Aided Fannie Bonuses

Democrats created a climate of crisis around this mortgage mess. Their answer, as always, has been to seize power and your money. (Rush 24/7 Members: Listen Here)

Pearl of Wisdom: "The preamble of the Constitution states it was created to 'promote the general welfare,' not ensure it. The bailout bill says it 'provides authority to the treasury secretary to ... ensure the economic well-being of Americans.' This abrogates the Constitution. When the government tries to run the economy, it always fails."

Rush recaps the debate. Obam-uh did well, until McCain took over and dominated. But forget the polls. The take-away from this is that Obama, once again, ripped the United States. Voters don't want to hear their country trashed by a man who seeks to lead it!

Pearl of Wisdom: "Think of ACORN as a thousand Jesse Jacksons shaking down companies and institutions. They were pressuring banks to make unsafe, subprime loans to people who couldn't pay them back." (Rush 24/7 Members: Listen Here)
» Stanley Kurtz on Obama's Buddies at ACORN, the Bailout: O's Dangerous Pals

You can't vote out Pelosi, Barney Frank, Franklin Raines and the other Democrats who created this mess. You can take your anger to the polls. Remember, folks, Raines and ACORN will be in an Obama White House. (Rush 24/7 Members: Listen Here)

Pearl of Wisdom: "You know my big desire? The morning after November 5th, I want to see the media so shocked that some of them, not Wall St. people, think about jumping out the windows of skyscrapers. I want to see the Democrats so shocked that the DNC has to be guarded by psychiatrists to make sure the people inside do not go insane and have to be sent to an asylum. I want to see such a landslide."

From Rush's Stack of Stuff Quick Hits Page:
» The Obama Campaign Searched for Rape Victim to Exploit in an Ad
» Interesting Take on Obama's Stutters » Biden Advised: Ignore Palin at Debate

All that and more when we update RushLimbaugh.com!

On a better note, Trump was on and made some interesting points about the bailout v. oil prices. I'll repost here for input from freepers:

Watching Cavuto now and Trump made a point that seemed to me worth mulling.

He said that every time there was a hint of U.S. government intervention in the market, OPEC moves oil prices higher.

Today oil fell $10 a barrel, and Trump thinks it will continue to drop like a rock SO LONG AS billions of U.S. tax dollars are NOT pumped into the markets. Trump’s follow-on point was that since oil prices will go way down, that fact alone will jumpstart the credit markets and the economy.

Trump’s bottom line point was: if the bailout is not passed, oil prices will plummet. That will itself create economic recovery. If the bailout is passed, oil prices will be set artificially even higher by OPEC. That will itself NEGATE any “positive” effect of the bailout.

I think that’s worth considering.

================================================
 

Students March for DREAM Act(Illegals with Mexican Flags again )

 
New Reactor Designs ready to go

9,192 posted on 09/29/2008 1:56:34 PM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

Democrats: There Is No Crisis at Fannie...Freddie (You gotta see this video)

Richard Viguerie: Bailout Defeat Shows Power of New and Alternative Media

Calling J.P. Morgan (He was more effective than Paulson and Bernanke combined)

How allies of George Soros helped bring down Wachovia Bank

Credit Is Flowing, Sky Is Not Falling, Don’t Panic

Some Perspective For The Chicken Littles (Michelle Malkin: The Sky Ain't Falling, People!)

I am still searching for "Burning Down the House.'

In the meantime, I found this from February 11. seven months ago...

WARNING! adult language. If you have sensitive eyes, do not use this link!

Burning Down the House, the blog post

This was the most popular viral video on the Internet until it was pulled today. Make sure everyone you know sees it at one of the new links:

http://www.youtube.com/TheMouthPeace

http://www.youtube.com/watch?v=NU6fuFrdCJY

http://www.youtube.com/user/TheMouthPeace


9,193 posted on 09/29/2008 3:30:36 PM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

Dr. Mark Perry, Prof. of Economics & Finance at U. Michigan takes a look, makes a few graphs and wonders where is the credit crisis?

You could have given me a “Hat Tip”.

Or, do our minds just travel the same highway?

Just today, I updated my post of 9/24/08 to include some of the data extending to 9/17/08 (two of the charts). Both of those charts show MORE LENDING than the previous week.

Based on when the timing of the TED Spread spike (it peaked on 9/18/08), the data released one week from today may be very telling.
 
“The fix is in, and it’s working…” | The Anchoress pinged back with “The fix is in, and it’s working…” | The Anchoress
Reactions: Defeat Of BailOut Bill : Stop The ACLU pinged back with Reactions: Defeat Of BailOut Bill : Stop The ACLU
Impeach Pelsoi « Obi’s Sister pinged back with Impeach Pelsoi « Obi’s Sister
Rush echos The Anchoress - UPDATED | The Anchoress pinged back with Rush echos The Anchoress - UPDATED | The Anchoress

“The fix is in, and it’s working…”

Glenn Reynolds has this from a media newsroom:

A READER AT A MAJOR NEWSROOM EMAILS: “Off the record, every suspicion you have about MSM being in the tank for O is true. We have a team of 4 people going thru dumpsters in Alaska and 4 in arizona. Not a single one looking into Acorn, Ayers or Freddiemae. Editor refuses to publish anything that would jeopardize election for O, and betting you dollars to donuts same is true at NYT, others. People cheer when CNN or NBC run another Palin-mocking but raising any reasonable inquiry into obama is derided or flat out ignored. The fix is in, and its working.” I asked permission to reprint without attribution and it was granted.

I have a couple friends who work in the MSM, too, and one of them tells me the newsroom is (exact words) “unbelievably cavalier” about any complaints viewers register about their reports, what they ignore, their bias or the way they edit Republicans vs. the way the treat Dems. “Cavalier” as in the fix is in and they don’t even have to pretend to care what half the country thinks or wants.

I suppose this is why print media and the press in general don’t care about their tumbling revenues; when The Pelosi gets the regulated internet and restricted Congress that she wants, and Obama gets his thugs and his Justice Department monitoring, intimidating and shutting down alternative media (and the dissenting voices we’ve been told are “patriotic” when a Republican is in the White House) the incestuous mainstream press will go back to being the only game in town. Pravda West.

(Shrug) everyone sees it coming; the voters don’t seem to want to stop it.

I’m praying. It’s all I can do.

By the way, this friend of mine - and remember this is a person in media - cannot understand (as I cannot, either) why the McCain/Palin campaign is still playing by the old rules with a press that clearly hates them and will do all it can to hurt them. At the very least, the campaign should be recording absolutely every inter-action with journalists - print or television - to protect themselves. As I’ve said before, Archbishop Chaput has been doing that for years, because the press has earned the distrust.

But I wonder if any of it matters. It seems it does not.

Instalanch! Thanks, Prof. Reynolds, and welcome visitors. My rant for the day: Spiteful Pelosi Cannot Lead.


“The fix is in, and it’s working” « WitSnapper | The Blog pinged back with “The fix is in, and it’s working” « WitSnapper | The Blog
Woody's Place tracked back with A Note From Inside The MSM/DNC Cabal...
Can 50 million Americans file suit for fraud? pinged back with Can 50 million Americans file suit for fraud?
D.C. Thornton tracked back with The MSM: “In the tank for O”...
Confederate Yankee tracked back with In the Tank, and Not Even Trying...
Sierra Faith tracked back with The Fix Is In, and It's Working...
Russ. Just Russ. tracked back with "Why should I trust you? You're a reporter."...
The Fix Is In | Counting Sheep pinged back with The Fix Is In | Counting Sheep
Brutally Honest tracked back with This media bias...

MORE FANNIE AND FREDDIE HISTORY: "Holmes had it right in 1999. One might expect the New York Times to point this out a little more often. Instead, they continue to echo Barack Obama and blame 'greed' for the failure. There may have been greed at the bottom of this — but it was greed for political power."

when in doubt, look at the data.

Especially when that data has been updated just this morning. Very eye opening.

Here's the blog post with the data in question: http://mjperry.blogspot.com/2008/09/new-banking-data-wheres-credit-crisis.html

Embedded at the top of that post is a link to The Federal Reserve Bank of St. Louis. That link is to the Sept. 29, 2008 updated loan demand, as reported and compiled by that branch. All the charts are showing new highs of loan demand and origination.

This whole imbroglio is getting me mad and it is beginning to look engineered.

On September 30th, 2008 at 2:16 am, tettes said:

this is complicated and i want to make sure i understand so i can encourage congress and the president to fix the actual problem.

from what i can tell, there is about $1 trillion in subprime mortgages (not good) and about $62 trillion in credit-default swap derivatives (much, much worse). basically, bets on these mortgages and other loans.

these are traded on an unregulated market i believe the subprime mortgage problem is being multiplied greatly by these unregulated “bets.” just look at how much money is in that market: $62 trillion. amazing!

this is the market that needs fixing first. i don’t want homeowners to get something for nothing, but these leveraged bets absolutely must stop immediately.

the fat cats are directing our focus from the real (and complex) issue so we squabble among ourselves about bad decisions by homeowners, minorities, etc.

Wall street’s failures FAR outstrip the poor decisions made by borrowers. it’s not even close!

why not just cancel these derivative contracts and see what happens before we throw tons of cash at the problem and continue to blame our neighbors for causing this mess?

JAY TEA ON THE BAILOUT:

So, to me, it seems abundantly clear that the Democrats don't see the current situation as a crisis, and are acting like everything is business as usual. To me, that says -- far more clearly than their words -- that they don't think things are anywhere as bad as they say they are.

And that is what convinces me that things are far worse than they think.

Because the Democrats have been consistently wrong on the whole situation, and have been for years. There is no end of videos of leading Democrats praising Fannie Mae and Freddie Mac's stability, of their performance, defending the leaders (most notably Franklin Raines and Jim Johnson), and thoroughly denouncing and scuttling numerous attempts to head off the problems that have started to come to a head in the past month or so.

It's a kind of negative evidence, but it's persuasive to me: the Democrats have a solidly established record of being utterly and completely wrong on the whole mess. They are now acting as if the situation isn't so bad, and are still far more interested in playing their run-of-the-mill political games with the whole process. If they are still wrong (and the odds are highly in favor of that conclusion), then we are in real trouble and the bailout that they don't seem to care about whether or not it passes is probably a necessary evil.

What's scary is that it makes sense . . .YEAH, THEY'RE NOT TREATING IT LIKE A CRISIS: "We're on the verge of financial meltdown, but Congress can afford to take a day or two off? I understand that it's a major religious holiday for some members, but this is an 'emergency.'"

A READER AT A MAJOR NEWSROOM EMAILS: "Off the record, every suspicion you have about MSM being in the tank for O is true. We have a team of 4 people going thru dumpsters in Alaska and 4 in arizona. Not a single one looking into Acorn, Ayers or Freddiemae. Editor refuses to publish anything that would jeopardize election for O, and betting you dollars to donuts same is true at NYT, others. People cheer when CNN or NBC run another Palin-mocking but raising any reasonable inquiry into obama is derided or flat out ignored. The fix is in, and its working." I asked permission to reprint without attribution and it was granted.

UPDATE: The Anchoress hears similar things.

It seems to me that there is an illusion being worked in the middle of all this frenzy; if during this crisis, the Democrats can still worry about laying themselves out for ACORN, and Harry Reid can take the time to try to sneak a ban on oil shale mining into new legislation, then that tells me something. It tells me there is time and room, here, and that more is driving this than we can see. It makes me wonder if we should not hit the brakes before we go over a cliff, because we couldn’t clearly see the bend in the road.

 And reader Eric Schubert: "The Edwards debacle was proof enough of where the heart of the MSM lies, and lack of curiousity of the press about Edwards probably cost Hillary the nomination. And that shameful episode offers a warning to the MSM. What if Obama does have a skeleton in his closet (such as a shady deal or outright bribe) that is revealed after he wins the election? While the chance of this scenario is remote, imagine the backlash against the MSM if it could be shown that a reasonable investigation by the MSM would have easily revealed this secret to the public prior to the election?"

Can 50 million Americans file suit for fraud?

Because that would be the kind of big news not even the mainstream press could make disappear.

From Instapundit:

A READER AT A MAJOR NEWSROOM EMAILS: “Off the record, every suspicion you have about MSM being in the tank for O is true. We have a team of 4 people going thru dumpsters in Alaska and 4 in arizona. Not a single one looking into Acorn, Ayers or Freddiemae. Editor refuses to publish anything that would jeopardize election for O, and betting you dollars to donuts same is true at NYT, others. People cheer when CNN or NBC run another Palin-mocking but raising any reasonable inquiry into obama is derided or flat out ignored. The fix is in, and its working.” I asked permission to reprint without attribution and it was granted.

The Anchoress, too, has friends in high places, and they’re saying the same things.

Me, I don’t get inside sourcing from major newsrooms, but I’ve been making a similar argument for years nevertheless. Call it a gut feeling. A certain keenness of mind. My remarkable capacity to tease subtle insights from carefully disguised rhetorical maneuverings.

– Or, you know — being able to read.

What strikes me as most odious is that last bit in the Instapundit excerpt — “The fix is in, and its [sic] working” — an admission made all the more disheartening to those of us who realize that the press is becoming a willing accomplice in election rigging because it was just 4-years ago that Evan Thomas of Newsweek acknowledged the media’s complicity in this attempted anti-democratic, anti-American gambit. But rather than feel shamed at their failure to honor a contract with the public, the press has decided instead to double down and give up any pretense of being neutral — all to help elect a Stepford candidate forged from 60s radicalism and polished by Alinsky, Gramsci, and the philosophical precepts of progressive fascism.

Proof positive that those who have suspected the press of being an increasingly activist fifth column are not so much paranoid as they are perspicacious.

USING VOICE STRESS ANALYSIS to tell when politicians are lying. Can't you just watch to see if their lips are moving?
 

Lie Of The Day: McDonalds Can't Get Credit (And The Financial Markets Work!)

Bottom line: credit-worthy borrowers will still be able to get credit. The way it should be. This entire crisis is due to the imbeciles in Congress pressuring/forcing lenders to lend to people who are lousy risks. These morons can’t even run their own restaurant but they want to micro-manage a multi-trillion dollar economy. God help us all.

Time for a Constitutional Amendment for Term Limits?

Americans might have bailed out the British with Paulson's Plan

OBAMA IS INDONESIAN

Peliso Plotted to KIll the Bailout Bill

VIDEO: Obama kids "Sing for Change Obama"



Sarah Palin: Ordinary or Extraordinary?

Obama, ACORN Pressured Banks to Make Unsafe Subprime Loans

Pelosi: I Don't Know What's So Great About the Great Depression, But That's The Name They Give It

The Lost Sarah Palin Interview (Bartiromo Talks with Sarah Palin)

Time for McCain to Light the Fires and Quit Kicking the Tires

ABORT Sarah Palin - Lefty PDS Hits A New Low Alert

BARACK OBAMA AND THE STRATEGY OF MANUFACTURED CRISIS

Pinning the Tail on the Donkey

Economy Expert: Bailout Is Nonsense and Irresponsible (Arthur Laffer)

Bailout Politics (Thomas Sowell)

 Oh I have no doubt there is stuff they aren’t telling us. I fear the iceberg effect. We can see something really bad, but what’s under the water is bigger and worse.

Politicians have been deceiving us for years. They just squander the money and pass the buck to the next generation. Except that this time they cut it too close and it blew up in their thieving faces.

They are now exposed for what they really are. That is what all the squirming is about. They have been caught red handed and they want to bury this issue before the public wakes up and cleans out the whole nest of parasites.

They may have broke the bank on this one, but if they didn't the Social Security Ponsi scheme will. Right now it is casting a big shadow over Washington and people are starting to look up.

Palin says she's "Ready to Rumble"

==============================================
 

The List: Murder Capitals of the World

Prime Minister Harper: Not Now, Not Ever Will Conservative Government Protect Unborn Children

[UK] Police confiscate walking stick from retired teacher, 78, because it is an ’offensive weapon’
 

Flight of white Britons from UK leaps to 70,000 per year, but population still rising.  Gee, I wonder why?

NASA extends Phoenix mission as snow falls on Mars

 

9,194 posted on 09/30/2008 4:29:29 AM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

"Bust up these Beasts": Steve Forbes bailout plan - break up Fannie Freddie monopoly status

Nancy Pelosi blamed for Wall Street bailout defeat [the costliest ad lib in political history]

NANCY'S DISASTER (Pelosi failed to rally her own party---95 Dems voted against bailout)

Last night Newt on Greta stated Goldman Sachs had 20 BUSD exposure @ AIG. (VANITY)

Obama, ACORN, and the churches

End of offshore drilling ban signals environmental shift

FRONTIERSMAN EXCLUSIVE: Palin responds to questions

The responses here were not edited and are preceded by the verbatim questions posed to her.

1. Your name had been whispered as one of any number of potential Sen. John McCain running mates for months before the official announcement. At what time did you realize you had a legitimate chance to be that choice?

PAUL VERNON/Associated Press Republican vice presidential candidate Gov. Sarah Palin holds up a buckeye necklace before a campaign rally at Capital Universtiy in Bexley, Ohio, on Monday.
I first met John seven months ago in Washington. I was immediately impressed by the Senator’s candor, warmth and humor. We are both mavericks, and we hit it off right away. The idea of this being a possibility became real when I flew to Arizona three days before I was announced as his selection.

2. What successes did you have and what mistakes did you make during your time on Wasilla City Council and as Wasilla mayor?

Since my time as a city councilmember, mayor, and now, of course, as governor, I’ve been an active reformer. Right away, I think I saw that Wasilla’s government as a “good old boys network” — and knew we had an opportunity to change and progress this city. When I was elected mayor, I immediately took charge and shook things up, as you know. Our tax cuts and strategy for growth were big successes.  The big mistake is always underestimating how much opposition you face as a real reformer, but I love the valley so much I was going to do what the city council staff and I felt was right for the people who live and work here.

3. We’re confident you were aware that being added to the presidential ticket would open up your personal life to public scrutiny. Were you prepared for the level of media and tabloid coverage of your past and family? Please explain how you and your family are dealing with this and whether you believe your family — and those of the other three candidates on the national ticket — are out of bounds, or does the public have a legitimate interest in the private lives of candidates?

Nothing really prepares you for hatred and made-up stories. But it’s nothing like the hard times of a family that’s lost a job, lost health insurance, or lost a son or daughter in battle. I would hope that the privacy of my children would be respected, as has been the tradition for  the children of previous candidates. Obviously, it hasn’t been so far. I think part of the media frenzy is because I haven’t been a part of the Washington establishment and that I’m not as well known to the powers that be in Washington. I’m not going to win over anyone in the media elite — I’m going to do my best for the American people. And of course all candidates want to shield their children from the rancor and bitterness. My personal e-mails being hacked into really took the cake because of all the violation of confidence and privacy that others felt when they saw the e-mails they sent to me were posted on Web sites around the world. Concern for my family’s safety was also paramount because pictures and contact information for my kids were published and their receipt of all the harassing calls and messages has been very concerning.

4. As you are traveling around the country, what are you hearing from Americans about the energy crisis and what do you think Alaska can contribute to solving the problem?

The American people understand that we are on an unsustainable path — we rely on countries that don’t like us very much to provide fuel for our cars and trucks and oil to heat our homes, places of business and schools. John McCain and I know that we need a comprehensive “all of the above” approach, keeping all options on the table including more domestic drilling, wind, solar, hydrogen, natural gas, clean coal, geothermal and bio fuels. As governor, I pushed for the largest infrastructure project in North America, the natural gas pipeline that will provide new supply and price relief from Alaska to Americans in the Lower 48. We are maximizing the recovery of resources and minimizing waste, helping lead to less dependence on foreign supplies.  Our dependence on foreign energy must end, and Alaska, with all its resources, will play a major role. It’s been great being able to tell that story to America and world leaders who are excited about Alaska’s role in our world.

5. Since your campaign began, you’ve stated you opposed the “Bridge to Nowhere” and have called it that. What caused you to change your stance on building the bridge? Also, do you still support construction of the Knik Arm bridge? Why or why not?

After taking office and examining the project closely, realizing the Feds were not going to fund it as Alaskans had assumed was the case, I cancelled the project. Even the Alaska Democratic Party credited me, or blamed me, with killing the bridge to nowhere until I became the vice presidential nominee and they removed this reference from their website. Alaskans will have to prioritize for the Knik Arm Crossing if it is truly a top state priority because Congress won’t fund it either. John and I believe there will be earmark reform in Congress because it’s a corrupted system.

6. During your tenure as mayor in 2000, then police chief Charlie Fannon commented in a May 23, 2000 Frontiersman article about legislation Gov. Tony Knowles signed protecting victims of sexual assault from being billed for rape kits collected by police as part of their investigations. Fannon revealed then that Knowles’ decision would cost Wasilla $5,000 to $14,000 a year, insinuating that the department’s policy was to bill victims for this testing. During your tenure as Mayor, what was the police department and city’s standard operating procedure in recovering costs of rape kits? Were any sexual assault victims ever charged for this testing while you were mayor?

The entire notion of making a victim of a crime pay for anything is crazy.  I do not believe, nor have I ever believed, that rape victims should have to pay for an evidence-gathering test. As governor, I worked in a variety of ways to tackle the problem of sexual assault and rape, including making domestic violence a priority of my administration.

7. Reporters from around the globe have been investigating policies and decisions you made during your time as Wasilla mayor. Regarding the flap over questioning then library director Mary Ellen Emmons, at the time in December 1996 you said inquiries you made to her about censoring materials in the library were “rhetorical.” Please explain. Were there books at the library at that time you wanted removed? Was there ever a list of books you didn’t want at the Wasilla library? Also, a San Francisco man recently donated two books to the Wasilla library that attempt to explain homosexual family life to children. Do you see any reason these books should not be placed on the library’s shelves?

As people there know, all questions posed to the library director were asked in a context of professionalism, regarding the library policy that was in place. Before I became mayor, there was conversation in our community about what sorts of books were appropriate for the public library. I asked the librarian about the process for answering that question as a way to familiarize myself with city staff and the issues being discussed in Wasilla at that time.  I certainly never advocated banning books. This was a ridiculous, false claim. Supposedly one of the books the media claims I banned was “Harry Potter,” which wasn’t even published back then. There were never any books banned and any reports claiming otherwise are grossly false.

I’ve always believed the government closest to the people governs best, so I won’t try to second-guess local officials back home.

8. If the McCain-Palin ticket is elected, you would be the first female vice president and it’s conceivable you could be the first female president in the history of the United States. Can you put into words what this means to you and to women everywhere?

First and foremost, my selection means there is a clear answer when you ask “who are the real reformers?” in this race. John McCain and I are the agents of change. This is a great responsibility, but it’s wanted and appreciated. I’m not going to let women, or John McCain, or anyone else down in carrying out the responsibilities I have as a candidate and hope to have as Vice President.

9. You’ve stated on the trail that you would be an advocate for families with special needs, yet the state of Alaska has a Developmental Disabilities Waiting List with more than 900 people waiting for the critical assistance they need. The latest report said it would take $45 million dollars to eradicate this waiting list. What is your administration doing to address the issues that families with special needs face?

In March 2008, I signed legislation reforming Alaska’s education funding formula to bring more accountability and predictability. The legislation increases funding for students with special needs from $26,900 to $73,840 per student. It is our hope that by providing the necessary funding support, we can touch more children with special needs who did not have opportunities before due to the prohibitive costs of providing the appropriate care.  I’m an advocate for special needs children. Ever since I took the chief executive’s job up North, I’ve pushed for more funding for students with special needs. It’s touched my heart for years, especially with the beautiful addition to our family 13 years ago, of our nephew with autism, then with the birth of our beautiful baby boy, Trig, we joined so many American families that know that some of life’s greatest joys come with unique challenges.  We’re going to make sure the government is on their side.  John McCain and I have a vision of an America where every child is cherished.

10.Alaska has the third worst children’s health insurance program in the country. It covers children who live in families that earn up to 175% of the poverty level, while 47 other states do much more. Is your administration working on a plan to improve this?

I know the challenges that families without health insurance face.  I know about the tough decisions and I know about their worries. There were times that Todd and I didn’t have health insurance. Believe me — that is a very scary thing for a family. John McCain and I have a detailed plan that includes providing a $5,000 tax credit to families so they can buy health insurance. That policy will be theirs — it will make quality health care accessible and affordable. I’m going to work to put this plan in effect so that every family in America can have access to quality, affordable health care.

11. Prior to the Aug. 29 announcement of your choice as the Republican vice presidential running mate, you addressed what has become known as “Troopergate.” At that time, you said you would welcome an investigation into the controversy. Please explain why now state employees are not responding to subpoenas from the Legislature’s investigators.

I am an open book on this matter and am fully cooperating with the non-political, legally appropriate and independent investigation of the Personnel Board. I have agreed to produce all documents, and am scheduling meetings with its investigator, Mr. Petumenos. Todd is also willing to speak with the new investigator, as are staff members. Walt Monegan has acknowledged I did not, nor did Todd, nor did any staff member, tell him to fire anyone. Walt was offered another position because he was not willing to implement the Palin-Parnell administration’s agenda to find efficiencies in every state department so that the public could be better served, and to fill the vacant trooper positions that I fought hard to fund.  As far as those who work with me in state government, I know that the Attorney General is questioning the validity of the subpoenas and has asked the Court for guidance. Once AG Colberg receives guidance, I am sure that he will pass along his professional opinion to the government employees. The threats against my family that were made by an Alaska state trooper are a separate issue and the details of “Tasergate” are in the political record now.

12. On Sept. 19, Attorney General Colberg wrote a letter stating he had confirmed with bar counsel that his contact with former Commissioner of Public Safety Walt Monegan did not create a conflict of interest. If this is the case, why have you hired private counsel in the Monegan inquiry? Are attorneys from the McCain/Palin campaign advising the Department of Law as well as Thomas Van Flein?

The subpoenas were responded to. The Attorney General has determined that there are valid challenges to the subpoenas, so he filed a motion to quash the subpoenas in court. Until motions are decided, the employees are not obligated to testify. We hired private counsel to assist us with the legal questions that have arisen in the course of the inquiry and to ensure that Alaskans would not have to foot the bill. McCain-Palin lawyers are not advising the Department of Law, and of course Thomas Van Flein consults with attorneys as he determines is necessary.

13. Being on the campaign trail, how involved are you in the day-to-day operations of running the state of Alaska? Following up, to what extent is the McCain-Palin campaign involved in state government operations?

I have contact every day with staff. The McCain-Palin campaign is not involved in operating state government. The day-to-day operations of Alaska are foremost on my mind as I speak to Americans about our great state and how Alaskans can contribute to the future of our nation.  There is great satisfaction in knowing that the Alaskans who work with me know my priorities and know the direction in which I want to take this state.  They continue to work on my priorities while I remain on the road.  The campaign is not involved in state government operations.  The campaign is responding to the hundreds of media calls coming into Alaska not because I am Governor, but because I am a Vice Presidential candidate.  I appreciate the support and the ability to keep my state staff separate and apart from the campaign staff.

14. What message do you have for the people of the Mat-Su Valley and state of Alaska from the campaign trail?

Americans are excited about Alaska, and everywhere we go, people bring out their Alaska ball caps and Alaska flags and other memorabilia that says “Alaska.” The warmth and support Americans have toward our great state grows every day and I so enjoy sharing our story.  John McCain and I continue to provide hope to those who want change in Washington.  We can bring the reform from our states to the nation’s capitol, and I look forward to doing it with your help and support.
 
===============================================
 

9,195 posted on 09/30/2008 5:29:15 AM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

Palin Outshines Democratic Party With Foreign Policy (Palin meets Uribe)

McCain must take gloves off, do the media's job

McCain/Palin Need To Follow The Old Prosecutor's Rule

Get back to the Fundementals

Donald Trump Sees Silver Lining in Failure of Bailout Bill

House Web site overwhelmed by e-mails [millions of emails received Monday night]

Guilty Party (ACORN, Obama, and the mortgage mess)

An Investigation Has Started on Fannie/Freddie (AP) -- Now its a SCANDAL (Enron times TEN)

The Democrat Record On Fannie Mae & Freddie Mac (2003-2007)

(Flashback 2004)Beyond regulation: it's time to privatize Fannie and Freddie.

(Flashback) Fannie Mae Uses Its PAC To Support Other PACs.

(Flashback) Democrats Criticize Bush on Housing

Large Crowds Greet Start of Early Voting (OHIO)

End Capital Gains Now

When Warnings Fall on Deaf Ears

While members on both sides of the aisle are partly to blame, it would be disingenuine to claim that no one warned of Fannie Mae and Freddie Mac. Numerous warnings by President Bush and high ranking officials inside his cabinet fell on deaf ears, often being pushed to the background by Democratic Senators and Representatives who were, when viewed in the light most complimentary to them, trying to make sure low income families could be approved for home mortgages. In fact John McCain even sponsored legislation on May 25, 2006 to reform Fannie Mae and Freddie Mac, but the Democratic controlled Congress, including Barack Obama, voted it down.
 
Democrats Covering up the Fannie Mae, Freddie Mac and Economic Crisis

http://www.youtube.com/watch?v=_MGT_cSi7Rs

http://www.youtube.com/watch?v=3p1Wc2NFa3w

Americans everywhere had better quickly come to terms with the fact that the Democrats and their media propaganda machines are anti-American terrorist sympathizers who want America destroyed.


THE BARAK OBAMA - DIRECT CONNECTION TO THE SCANDAL!

http://www.youtube.com/watch?v=AiEWCnpNnBQ
 

Here’s the video to send out in all your emails regardless of the subject: http://www.youtube.com/watch?v=_MGT_cSi7Rs

This item goes hand in hand with the above video:

Sunday, September 21, 2008
Bush Called For Reform of Fannie Mae & Freddie Mac 17 Times in 2008 Alone... Dems Ignored Warnings
http://gatewaypundit.blogspot.com/2008/09/bush-called-for-reform-of-fannie-mae.html

“We have found flipping scams in every city we’ve investigated,”

http://www.motherjones.com/news/outfront/2000/07/outfrontja00.html

July/August 2000 Issue Mother Jones

Fannie Mae’s Thugs Vilified Whistleblowers, Told Avalanche of Lies

THE ANTICS OF ACORN

A listener, William, sent us a compilation of various times when ACORN has resorted to voter fraud, just to get their Messiah, Barack Obama, elected. Here's a synopsis of some of the different cases against ACORN, just in this election season alone.

Are you starting to understand what is going on here, folks? These are not isolated incidents.

I don't think people realize to what extent ACORN commits voter fraud. It's massive and they are everywhere.

KRQE: ACORN Hiring Criminals to Register Voters in NM
ACORN Registers 13-year old to vote in NM
More ACORN Allegations
ACORN Submitting False Registrations In CT
ACORN Vote Fraud
OBAMA'S ACORN EXPOSED PART 1 OF 2
OBAMA'S ACORN EXPOSED PART 2 OF 2

================================================

Why Nuclear Power Has Languished

Changing S.F. street behavior in small ways

Grid of 100,000 computers heralds new internet dawn

Not even close to the world's largest. FreeRepublic has a "folding" team working on cures for Alzheimer's, Parkinson's, and forms of cancer. There are over 240,000 CPUs working together to find these cures. The FreeRepublic team is ranked #56 out of all the teams in the world.

Click Here to see our latest thread where Folding@home

Meat must be rationed to four portions a week, says report on climate change (UK)


9,196 posted on 09/30/2008 9:04:45 AM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

If I Were a Republican Strategist

Wesley Pruden: A job for the right woman [Sarah Palin]

What It's Like to Debate Sarah Palin (Alaska Election Loser Warns Biden)

CEO of NBC behind "Obama (Hitler Youth) Kids for Change" Video!

I watched this on YouTube here:

http://www.youtube.com/watch?v=TW9b0xr06qA

The remarks from the poster and other supporters are unbelievable...

Children "Sing for Change" to Dear Leader Obama - Video 9/30/08

Secret, Foreign Money Floods Into Obama Campaign

Sarah Palin nude portrait

The Cruelest Lie

Could an Obama loss spark race riots? (Let's Vote McCain/Palin And See.)

Did Democrats Orchestrate A Bailout Failure To Boost Obama?


9,197 posted on 09/30/2008 12:20:22 PM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All
A rare editorial from THEG...

McCain is foundering- here's how he can pull it together again:

1)- hammer Obama and Democrats relentlessly on the economy-- use the links here; it's 90%+ in their court.

2)- hammer the corruption, profiteering, backroom deals, and nepotism. It is rancid!

3)- let Sarah be Sarah. Turn her loose, and let the chips fall where they may.

It's the only chance he has left.

Palin's former aides say under the lipstick is a real pit bull

Wall Street bailout trips over grassroots

STATEMENT OF CONGRESSMAN BARNEY FRANK ON POOLE'S COMMENT ON THE GSES (2006)

 
===============================================
 
Breaking: CHRC & Warman v Guille: GUILTY Part I

9,198 posted on 09/30/2008 1:04:59 PM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All
Being deleted like crazy:

LiveLeak still has the original video

http://www.liveleak.com/view?i=658_1222431921

burning down the house v4: http://www.youtube.com/watch?v=TxgSubmiGt8

Here are a couple of places the original video can be seen:

http://mousenaround.wordpress.com/2008/09/30/economic-crisis-video/

http://www.jibjab.com/view/253615

9,199 posted on 09/30/2008 1:27:07 PM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

Morris: "McCain is losing the election this minute"

Hugh Hewitt Interviews Sarah Palin

Video: Stanley Kurtz on Obama, ACORN,and the CRA (financial collapse started with ACORN)

Who's Sleeping More Deeply -- Europe or America?

An Opportunity For Conservatism (Another Brilliant Monologue From Rush Alert)

Top recipients of money from Freddie Mac, AIG, etc.

Rush In a Hurry - September 30, 2008

YOU DECIDE! Obama Kids Video: Cute or Creepy?

Children of the ACORN.

Education for Death...1943 Disney film

McCain Adviser: Treasury Doesn't Need Congress for Bailout

 What I am saying that he didn’t mind the GOP losing control of the House and Senate in 2006. Appointed Paulson at the urging of Schumer. Paulson hires two Obama supporters as his chief assistants. Not a peep out of the WH.

He doesn’t like McCain and word I got along with others about the meeting is that Bush sided with Paulson, Obama, and the Dems. McCain had to call Bush to urge the meeting after the Bush Press Secretary said he would think about it but make no commitment. Then we find out that Obama had been given the House GOP plan by Paulson and when he took over the meeting, Boehner went ballistic. It was a set up and if the President wasn’t part of it then he is not in control of his own Administration.

Not sure he would mind seeing a Dem replace him just like his Dad didn’t mind Clinton. Too much research from some very reliable sources point in that direction.

Cannot believe I am saying that after supporting him for four elections. Do you remember his enthusiastic support for Gov Palin? I sure don’t. At fundraisers for the RNC, he is not enthusiastic for our team — first hand knowledge of that. Found out earlier Bush and Cheney were pushing Romney starting in June for VP.

Something smells about all of this and it keeps leading right back to the WH. Guess in Court, I would call it circumstantial evidence. One more thing my Congressman a Bush loyalist keeps saying it makes no difference who wins as long as we make a good showing in the House and keep it close. Heard today from two sources he also said if Obama wins, he will run JC Watts for Governor at three different venues. Did I forget to say he is head of NRCC and a ‘supposed’ Republican?

Am either way off or this was all a ruse to get McCain and Republicans in the House and Senate.

37 posted on Tuesday, September 30, 2008 6:17:56 PM by PhiKapMom
 

9,200 posted on 09/30/2008 4:26:12 PM PDT by backhoe (For a Real Change, Vote Palin)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-20 ... 9,161-9,1809,181-9,2009,201-9,220 ... 12,501-12,502 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson