Posted on 09/21/2008 4:57:31 AM PDT by Alas Babylon!
The Talk Shows
Sunday, September 21st, 2008
Guests to be interviewed today on major television talk shows:
FOX NEWS SUNDAY (Fox Network): Treasury Secretary Henry Paulson; Sens. Jon Kyl, R-Ariz., and Charles Schumer, D-N.Y.; Bonnie McElveen-Hunter, chair of the American Red Cross.
MEET THE PRESS (NBC): Paulson; New York City Mayor Michael Bloomberg.
FACE THE NATION (CBS): Paulson; Rep. Barney Frank, D-Mass.; Sen. Richard Shelby, R-Ala.
THIS WEEK (ABC): Paulson; Sen. Chris Dodd, D-Conn.; Rep. John Boehner, R-Ohio.
LATE EDITION (CNN) : Douglas Holtz Eakin, adviser to John McCain; Austan Goolsbee, adviser to Barack Obama; former Rep. Rob Portman, R-Ohio.; Gene Sperling, former Clinton administration economic adviser; Rep. Ron Paul, R-Texas.
Somebody sent this little tidbit to me from Freedom.com:
When Nancy Pelosi was elected Speaker of the House of Representatives, she promised to stop legislators and their families from soliciting gifts, trips, and jobs from lobbyists and corporations. Obviously, it was nothing more than cynical campaign rhetoric. Newsmax.com has disclosed that in February, shortly after his mother became speaker, Paul Pelosi Jr., was hired by InfoUSA for $180,000 a year as its “Vice President for Strategic Planning.” Now, get this — unlike ALL the other InfoUSA employees, he does NOT report to work at the company’s headquarters in Omaha, Nebraska, or even a lobbying office on K Street in Washington; he’s keeping his full-time job as a mortgage loan officer for Countrywide Loans in California. InfoUSA is the same company cited by the New York Times for creating and selling marketing lists used by con artists to fleece vulnerable elderly people, including those with cancer and Alzheimer’s.
It’s the Corruption Stupid!
Pray for W, Palin and Our Troops
Ah, but that was before a certain friend of ours donned the pleated skirt and started passing out transparently gratuitous flattery the price of which was to join in the attempted expulsion (through bullying) of anyone who challenged the voices of those populating the Echo Chamber.
This has done more to drive people from this thread than rancid potato salad ever did!
Then, of course, Brokaw ends the panel discussion by making the discussion sound like it was a 20-minute commercial for CNBC. I could not have more disappointed if he had said, "Buy more Ovaltine."
Maybe our schools should teach about money instead of the millions they spend to teach us "diversity".
I worked for a lawyer whose sole job was flipping houses.
He also purchased tax liens against properties where property taxes weren't paid. Intriguing business I must say.
This was back in 95 or so and in Baltimore, at the time, Flipping houses was considered a shameful activity.
Then we had the infamous UG....you know the guy who buys UGLY houses ostensibly to fix up and resell?
Next we have the TV show "Flip That House" and like my life, I was a day late and a dollar short when flipping houses became de rigeur.
I could write a book on flipping houses as my job was to handle all the money for this sort of thing.
My father made a small fortune flipping houses. Although it wasn't called that in his era. He was a carpenter and he'd buy a house, fix it up, then sell it for a great profit. We actually lived in those houses however as they were remodeled. Sometimes we didn't even have indoor bathrooms, hand to God. My entire childhood was spent building house for my father, then moving, building again. When he died he left all his money to his son by his second marriage, leaving us little slave kids out of his will. Just a bitch, forgive me.
The house I lived in before Delaware he bought for $5,000. I bought it from him for $107,000 and we sold it five years ago for $220,000.
There's money to be made in flipping houses and it's not illegal. But you can believe that this notion was sold to ghetto residents looking for a rainbow without qualification one to achieve a decent result.
Puyallup Fairgrounds are great. Was there for the sewing extravaganza there years ago. Enjoy!
Nice graphic, but what is it?
AIG also has tremendous assets. The feds got 79.9% of those for preferred convertible at 12% interest. That is a loan that has to be repaid. It also gets to cramdown the debt. This is a dream deal.
It is kind of like buying 80% of MSFT by loaning them a fraction of the revenue and being able to force Vista on the previous share holders. And getting first dibs on the revenue.
I’m more worried about the rest of this: 1) allowing MSH, GS, and MER to survive intact (AKA a NYC jobs program for three buggy-whip companies) and 2) approve the MER BAC merger. The big BDs need to fail. Liquidate the assets and cramdown the debt.
Don’t get me goin’ about Vista!
Credit, where credit is due:
~~~~
*snip*
But it was the Clinton administration, obsessed with multiculturalism, that dictated where mortgage lenders could lend, and originally helped create the market for the high-risk subprime loans now infecting like a retrovirus the balance sheets of many of Wall Street’s most revered institutions.
Tough new regulations forced lenders into high-risk areas where they had no choice but to lower lending standards to make the loans that sound business practices had previously guarded against making. It was either that or face stiff government penalties.
The untold story in this whole national crisis is that President Clinton put on steroids the Community Redevelopment Act, a well-intended Carter-era law designed to encourage minority homeownership. And in so doing, he helped create the market for the risky subprime loans that he and Democrats now decry as not only greedy but “predatory.”
http://ibdeditorial.com/IBDArticles.aspx?id=306370789279709
Howdy FReepers wanted to share this new tune LisaMei an I been playing around with. I have no clue where to post this so more folks can hear it.Or what the rules are for posting threads.
Looks like a great place to start was here...
http://www.freerepublic.com/focus/f-bloggers/2087093/posts
Please feel free to share it with anyone you think would enjoy it.
I posted the lyrics below but you can listen to it by going to my original post
http://www.freerepublic.com/focus/f-bloggers/2087093/posts
Liberals on the left, conservatives on the right Independents on the fence, the media startin’ fights... Bloggers posting rumors in place of the facts Wasting our time with their personal attacks.
Well, here’s a little something we can promise you, We won’t sit around and “yak” the way the others do. We put our country first, the way it ought to be Protect our way of life in the Land of the Free.
*Change is only good if it makes things better We can make a difference sooner than later If it’s change you want, real change you’ll get McCain and Palin for change you won’t regret.
They say that we are lacking the experience to lead Ignoring all the times we managed to succeed. Serving with integrity and with a servant’s heart We’ve shown where we stand on the issues from the start.
We’re gonna shake up Washington, make changes from within Roll up our sleeves, get to work the day they swear us in. Oh, there will be times when we don’t all agree... But some things are worth fighting for ‘cause freedom isn’t free.
*Change is only good if it makes things better We can make a difference sooner than later If it’s change you want, real change you’ll get McCain and Palin for change you won’t regret.
They don’t call us mavericks for nothing We’ve both been elected to positions of trust. Challenge the status quo and serve the common good ‘Cause that’s what’s expected of us...
Oh, change is only good if it makes things better We can make a difference sooner than later If it’s change you want, real change you’ll get McCain and Palin for change you won’t regret.
*Change is only good if it makes our country better You can make a difference by voting in November If it’s change you want, real change you’ll get McCain and Palin for change you won’t regret.
*Change is only good if it makes our country better You can make a difference by voting in November If it’s change you want, real change you’ll get McCain and Palin for change you won’t regret...
Copyright 2008, Lisa Mei Norton (cowritten by “BigDawg”)
“I think that the financial reporters ignored it.”
I totally agree with this. The SEC is incompetent. Totally, and Cox should be fired. They allow completely bogus assets to be reported on 10-Ks and 10-Qs. Cramer is dead wrong on this. They continue to permit blatant Reg FD violations, which are widespread. They instituted option expensing, which is an idiotic accounting notion, under political pressure.
“A note based on betting whether a Chinese company will fail seems a little chancy to me”
Yes! at the heart of this are the CDSs. They are institutionalized PMI. PMI is one of the worse concepts on the planet. Turning them into tradable instruments is why this is so hard to unwind.
Dodd is a crook. Addressing the problem will just bring out his sweetheart mortgage deal with Countrywide, how Countrywide was the first bank to be given permission to bypass capitalization requirements, in the form of savings deposits, for home loans, and how he received more in contributions than any other member of Congress from Fannie Mae and Freddie Mac.
Blaming foreclosures, and scapegoating the banks, is always easy, as banks are not very popular.
“must be a heck of a lot more to it than just bad loans and clueless borrowers. “
Correct. What froze the market were the CDSs. They are basically insurance against default. They are very profitable if nothing goes wrong. But if you make a slight miscalculation they nose dive in value. These were allowed by the SEC to be marked to the market even though there was not a real market for them.
OK hate to do it but what are CDS’s?
Credit default swaps.....
That is my understanding as well and the difference between Lemann (sp) and AIG
British summer time
Thanks.And they are?????
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