Posted on 10/02/2008 2:34:35 AM PDT by mosesdapoet
Americans do not be deceived, Meltdown this tale belongs to these donkeys. On 8/15/08 President Bush reacted to mortgage lending practices promoted by Barrack Obama through the group known as ACORN and protected by key democrats both in the House,Barney Franks and Senate Christopher Dodd. Bush announced a meltdown in lending institutions with Bush's treasury boss offering to be made a "Czar" of a new Department of Dole that starts at $700,000,000,000 billion which would underwrite "ify" paper bought by F&F (Fammie Mae-Frank Mac mortgage houses which already has 300 billion allocated) and AIG insurance.
This serious situation was not caused by Mr. Bush. GWB is reacting to it. If something isn't done this country will be in deep do-do. But the correction must be done thoughtfully and slowly.
The irony is the very people who helped create this situation are the very ones main stream media is running to for advice to get US out of the mess they created. This is like letting coyotes guard the goose that lays the golden eggs. Goodbye goose ! And goodbye golden eggs
Newspapers today aren’t fit to wipe your butt with anymore....
The vast majority of the population does not understand any part of the economy. And the media is perfectly happy with the population being stupid.
OK but know what do you propose to do?
What should McCAIN do for fixing the problem meanwhile winning votes AND beating OBSSAMA(who is a big part of the problem and a threat for USA)?
I thought Dodd and Frank, et al would have been tarred and feathered by now, instead they are out there giving advice. I fear we are lost as a great nation.
Well then what the Hell Is that Moron McCain Doing?
I would like to know where to go when the crooks are running the Police dept.,and No One speaks for us ,There is no Choice out there ! McCain sounds like a Wimp ,the so Called MAVERICK ,People are wising up to this act ,the only group the MAVERICK takes on is the American People ,He dumps illegal Immigration ,Campaign FinAnce reform and now this Turkey on us and he says he works for US ! WHER I ASK , Prove it !!
The media isn't exactly a wealth of knowledge either.
Then vote for Obama.
Hey at least I can go buy a new car tomorrow....sarcasm
I am being told that the credit (or is it just credit for bad borrows) is dried up. Would someone please fill in the blanks on this as I DO NOT believe it and really want to understand what is going on. Thanks in advance.
McCain needs to tell the truth, that this was set in motion by Jimmy Carter, that it was envisioned as part of reparations behind the public’s back. Then he should name names, where the money went, Obama’s pals, benefactors. If he could buy a half hour or even twenty minutes of TV air time, plus put it out on the internet. The MSM propaganda machine is in full tilt and will be for the next 30 days, the big lie 24/7. Obama won the debate, he’s the Second Coming, and there’s no use voting Republican. (And if you even think of doing so, you’re a racist.) This is pure evil, and McCain’s staff has to come up with a plan to combat it. Tonight’s debate is important, but no matter how well Gov. Palin does, you know Biden will be called the winner. The media will bury her.
So come on, FReepers, come up with some ideas for McCain and Palin. I don’t think Americans will like the truth about the financial mess, that it was ‘a nod toward reparations’. That’s the third rail, folks, and Obama has said when he gets in, he’s not just going to hand out money, oh no. It’ll be power and access and wealth across the board.
The problem is that we have reached a point where a majority of our population's votes have been purchased, those who depend exclusively on the economy (private sector) is now smaller than those who either work in the public sector, or derive benefits through tax policy.
Over 50% of workers, public and private, pay no taxes. This explains why no one is satisfied with the "economy", even when it is roaring. We have to understand the sheer magnitude of the population that does not depend upon GDP growth for their livelihood. The numbers who now work for federal, state, and municipal governments, recipients of transfer payments, beneficiaries of the progressive tax code, social workers, and retirees no longer perceive the "economy" the way those in the private sector who actually pay taxes do.
When it is said that the rising tide of GDP growth raises all boats, well, it doesn't. There is now a plurality of "boats" that aren't even in the water.
It gets worse. Envy plays a tremendous role here. I have nothing against public sector workers, many of them DO understand that the private sphere is ultimately the financial fount of their livelihood, but most of them only see, especially during good economic times, that prosperity through GDP growth, is, well, something good that happens to everyone but them.
Think about the salaried public sector workers in your neighborhood. While the construction superintendent or the guy who owns a furniture store prospers when the economy is good, the school teacher or the executive in the local social services organizations sees their income remain at the same level. Private sphere growth only serves to magnify the feelings of income stagnation among those whose incomes do not grow with private sphere prosperity. Again, I know there are probably many who work in the public sphere that do not see government as their benefactor, especially on this forum, but we have now crossed a numerical Rubicon. This is how we can have an economic crisis like we have now, and end up ELECTING precisely the culprits that caused it.
BAH! SARAH needs to grab this thing and RUN with it tonight!
Fooey on all the 'prepared' land mines that will be out there.
“Joe; you have been in the Senate now, uh... HOW many years?
This ECONOMY problem has been LONG known.
Why haven’t you and Barak corrected it by now?
Why has no one but DEMOCRATS been involved in the problem?
...”
One Senator stated “The masters of the universe, those brilliant Wall Street insiders who have made more money than the average American can even dream of, have brought our economy to the brink of collapse”. What he did’nt go on to artuculate is the close association of Fannie Mae and Freddie Mac type companies close association with Obama and company, ie: Barney Frank.....
The problem now is bank insolvency due to bad securities (based on no income, no assets). This has nothing to do with mortgages or car buyers anymore. That's why Paulson wants 700B to buy "instruments", not "mortgage-backed securities" or anything else to do with consumer loans. After he throws away 700B the system will melt down anyway and he will deflect blame and ask for more money. Or even more likely, he will use the poorly worded law to just take more money (there is no overall 700B limit, just 700B at any one time).
As we once again spend time making phone calls to our so called representatives, I ask that every body make at least 3 more phone calls. One to FOX News, one of the major networks, and one to a local network. Let them know what what we think. Tell them to investigate Frank, Dodd, and Obama. Maybe then they will get the idea of the anger out here.
Thank you for your understandable answer!
I have good credit and w/o interruption have been asked daily to "borrow" throughout this charlatan cowpie.
Most of us are like the ignorant villagers of rural India, giving money to fake healers performing magic tricks to heal us instead of proper & honest cures.
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