Posted on 09/22/2008 7:36:35 PM PDT by Texas Songwriter
In the past couple of weeks, as the financial crisis has intensified, a new talking point has emerged from the Democrats in Congress: This is all a "crisis of capitalism," in socialist financier George Soros' phrase, and a failure to regulate our markets sufficiently.
Seems the plan all along was to have the government take over these mortgages. More steps toward the end of private property as we know it.
The taxpayer rescue is not law at this time. Nor should it be ever. I’m in the market and I’m willing to take the risk, but the taxpayers should not be part of socializing a huge fraction of our economy. Made a bad investment? Don’t ask the US taxpayer to make it right.
Just heard Newt Gingrinch on Greta van Sustrins show say about the same thing. Troubling times.
With the election upcoming, the electorate needs to be informed. When Dodd and Barneyfag comes out and assets this is Bush’s fault, and no less that 17 times he attempted to get better oversight and they skuttled those efforts, they come out and lie with impunity and the public cannot filter the crap out of reality. Dodd and Frank should be put up agaist a wall for all of this sh*t>
It really doesn’t matter, because the Democrats will never be held responsible. I mean it’s interesting to know who played a role in the crisis, but does anyone seriously think any heads will roll? I have a better chance of winning the lottery (and I don’t play it).
Sorry to say, but the leftist media will cover for their folks. The few right-leaning media sources will present facts. Americans will hear both arguments and chalk them up to political squabbling. In other words, they won’t believe either side; they’ll just think it’s politics.
Folks, the barbarians are no longer at the gates. They run the country!
Posted on Monday, September 08, 2008 10:06:36 AM by joinedafterattack
There are as many starting points for the mortgage meltdown as there are fears about how far it has yet to go, but one decisive point of departure is the final years of the Clinton administration, when a kid from Queens without any real banking or real-estate experience was the only man in Washington with the power to regulate the giants of home finance, the Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FHLMC), better known as Fannie Mae and Freddie Mac.
Andrew Cuomo, the youngest Housing and Urban Development secretary in history, made a series of decisions between 1997 and 2001 that gave birth to the country's current crisis. He took actions that—in combination with many other factors—helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded "kickbacks" to brokers that have fueled the sale of overpriced and unsupportable loans. Three to four million families are now facing foreclosure, and Cuomo is one of the reasons why.
This is from the Village Voice - not a conservative paper...
As someone said on Rush’s show today, when are there going to be hearings on these swindweasels?
If they can hold hearings on steroids in baseball, Why not this?
...and I thought I was being tin-foilish when I said almost the same thing earlier tonight.
I think the public senses there has been unconstrained corruption in the near past and a rip-off of historic proportions ahead. In Washinghton they now call it a “Plan”. If the people don’t revolt against the theft of the nation’s wealth soon there will be nothing left and the currency will have no value.
Corrupt politicians, primarily crooked Dems like Obama, in bed with Fannie and Freddie. Too bad the MSM doesn’t have the balls to report this and tell the truth to the uninformed American people.
Greta’s poll question - can the government fix? 94% SAID NO. Hello Washington - is anybody there listening???
It was the Liberal KOOLAID , carefully engineered and administered by Clinton Appointees to Freddie Mac and Fannie Mae. Instead of a lobster in every pot , it was a house in every pot.
And the Liberal KOOL AID drinkers of Utopian vintage assumed that the mortgage finance industry would have continuing low adjustable rates. They did not forsee peak oil, or the domino effect of a tight economy and accelerating foreclosures.
That is not Crony Capitalism, its plain UTOPIAN socialist foolishness.And the Dems want us to elect Obama, the greatest Liberal KOOL AID engineer of all the whacko liberals. Obama even out KOOL AIDED the Clintons, and thats going a stretch.
I hope that Congress does their usual deadlock dance, and that the bailout falls flat on its face.
Let it fall, and watch houses being snapped up at bargain basement prices, with NO sub prime mortgage schemes being offered.
The banks deserve to take the hit. They earned it.
And what's more , we see the fruition of the sleeping time bombs of Clinton appointees to federal agencies. The CIA ( Plame-Wilson) and the State Department have them too. One wonders how our military has survived to function despite Clinton appointments and promotions.
Weakness invites attack. Watch the Arab oil money enter the country and buy up our banking system. This is one of the sickest episodes ever to afflict America.American financiers have turned into beggars on the world stage.
McCain's election is also assured by the crisis, if he cops to the real line he should take on the crisis: LET THE SYSTEM FAIL!
That is what he would be saying if he is going to truly fight "corruption" in Washington.
It was the Liberal KOOLAID , carefully engineered and administered by Clinton Appointees to Freddie Mac and Fannie Mae. Instead of a lobster in every pot , it was a house in every pot.
And the Liberal KOOL AID drinkers of Utopian vintage assumed that the mortgage finance industry would have continuing low adjustable rates. They did not forsee peak oil, or the domino effect of a tight economy and accelerating foreclosures.
That is not Crony Capitalism, its plain UTOPIAN socialist foolishness.And the Dems want us to elect Obama, the greatest Liberal KOOL AID engineer of all the whacko liberals. Obama even out KOOL AIDED the Clintons, and thats going a stretch.
I hope that Congress does their usual deadlock dance, and that the bailout falls flat on its face.
Let it fall, and watch houses being snapped up at bargain basement prices, with NO sub prime mortgage schemes being offered.
The banks deserve to take the hit. They earned it.
And what's more , we see the fruition of the sleeping time bombs of Clinton appointees to federal agencies. The CIA ( Plame-Wilson) and the State Department have them too. One wonders how our military has survived to function despite Clinton appointments and promotions.
Weakness invites attack. Watch the Arab oil money enter the country and buy up our banking system. This is one of the sickest episodes ever to afflict America.American financiers have turned into beggars on the world stage.
McCain's election is also assured by the crisis, if he cops to the real line he should take on the crisis: LET THE SYSTEM FAIL!
That is what he would be saying if he is going to truly fight "corruption" in Washington.
I read all of the Village Voice installments of this article. I was a little surprised the Village Voice exposed Cuomo so clearly. That is such an important expose that I photocopied it for distribution to anyone who will take the time to read it.
You, sir, are a prophet.
CONGRESSIONAL HEARINGS, NOW!!!!!
< crickets >
Have you noticed that the Republicans are not going on the talk shows and exposing this crap, neither are the Democrats. The whole thing in Washington is a cess pool. I am coming to Jim Robinsons view that if we do this deal, we are sealing the doom of what freedoms we have left. Giving 1 trillion dollars to a banker to bale out bankers malfeasance does not make sense. Paulson has not been right so far in stemming the tide of failures with Bear Stearns, Fannie/Freddie. AIG, Lehman,....a total of $300,000,000,000.00. Now asks for $700,000,000,000.00 and we are all rushing this legislation. We have taken leave of our senses. Besides the 700 billion it will be larded up with pork of all kinds.
And McCain wants to give Cuomo the SEC to screw up.
I swear, if he wasn’t running against an out and out socialist, I’d sit this one out no matter how much I like Palin. But, Obama may be more liberal than a socialist - he’s certainly to the left of declared socialist, Bernie Sanders of VT. Combine that with the autocratic tendencies he’s shown and I’ll even vote for a liberal like McCain.
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