Posted on 10/05/2008 12:20:12 PM PDT by AFreeBird
I just caught the middle part of a special on Fox that is quite damning (IMO) to democrats and Congress on this financial mess we find ourselves in. ACORN and Obama mentioned, and NOT in a flattering light.
If you haven't seen it, or you only caught a part of it like me; you MUST catch it again tonight at 10pm ET on the Fox News Channel.
We need to make sure this information spreads far and wide and fast. Hammer it home people, especially to any lefty (or independent/undecided) friends.
This kind of information coming now, can bring down the democrat's house of cards.
Exactly - keep it alive
Boggles the mind, doesn't it?
I never gave it much thought, but when it was reported that the raising of taxes and more socialist spending actually kept the nation in poverty for years afterword, I was thrilled they reported it.
That's what Obama wants to do. Raise taxes, increase socialism, and prolong this financial crises for another decade.
It should, and I hope and pray that it does, spell doom for them!
The book in my other post is the one, then. I’ve already put it in my Amazon shopping cart. If anyone else asks, that’s it. I only wish pieces such as this would make it on the MSM...sigh...I’m just full of wishful thinking today.
My girlfriend was asking me about this mess last Friday. And I was having a hell of a time trying to explain it to her. I’m sitting her down to watch this tonight.
Pathetic.......
PING
There have been multiple threads about this program - too bad they can’t just be condensed into one and kept at the top of the list!
Also, I saw this article / thread last night, which adds some more useful info.:
http://www.freerepublic.com/focus/f-news/2097802/posts
It appears from that article that fraud @ AIG was the powder in the keg, and the Dems through Fannie and Freddie provided the fuse and match.
But, I still have many questions. Among them: AIG was apparently insuring the high risk loans, but did not actually have the collateral to cover them. Did the 2004 Republican proposals, or Bush’s attempted reforms, or McCain’s tries, address this? Did ANYONE’s? If someone did, who opposed it?
It appears to me that worldwide banking regulations were skirted. Would U.S. regulations alone have really helped, and would the rest of the world gone along with them?
In a similar light, has anyone previously attempted to limit or regulate mark-to-market accounting? Who opposed such moves? That’s a big part of all this too.
The answers to those questions would go a long way, in my mind, toward answering the question of whether Bush or “the Republicans” were asleep at the wheel. (I don’t think they can really be faulted if NOBODY saw the details of what was coming.) A general attack from Obama of “Bush’s opposition to regulations caused this” doesn’t hold water if he (Obama) wasn’t making or supporting specific proposals that would have helped. To the contrary, Obama and the Dems clearly made things worse, from everything I have seen so far.
From the article referenced above, I have come away with a somewhat different view of the bailout than I had even a day ago. I guess I would compare it to dealing with a plug in the toilet when there is no plunger or Draino around. You sure as heck don’t want to reach in there, but...
The author is quite dubious about the bailout doing anything but preventing complete disaster: “First, you must understand that without the government’s actions, the collapse of AIG could have caused every major bank in the world to fail.”
As far as I’m concerned, “Heads need to roll” is putting it mildly.
Oh, so we should not bother catching the arsonists, eh?
Incidentally, I don’t get Fox News (can’t afford the Dish or Direct TV due to being laid off recently!) Am trying to have someone tape the Fox News Special for me. If the show answers some of my questions, let me know! (I’ll try harder to get a copy!)
:-)
Hulu.com/fox-news-specials. Fox introduced this site right after the special.
Can Fox put up a link to this on their website so that people can watch it on their computers at any time?
I posted upthrad that I hope Fox puts a link to it on their website so that people can watch it on their computer at any time.
Now I am adding that I hope they so do AND promote the link in ads all over not only their own network, but on internet sites, Drudge, etc.
Waxman is going to hold hearings to question a Lehman Bros. executive. Obviously another way for the Rats to extend the OCTOBER SURRPISE tactics with which they have shamelessly used and timed the denouement of this financial crisis.
But CHRIS SHAYS (R-CT) is also on this committee, and he is excellent on these issues.
We all need to write Shays and ask him to hit back hard on this garbage, especially if Waxman tries to use the committee to deflect blame from the Rats.
On another note, so I hear Bawnie Frank’s BF was a senior executive at FANNIE MAE for many years while all this house of cards was being built . . .
I’ve watched it three times since last night- I am finally grasping the concept of derivatives and CDS thanks to the informative explanation to David Asman by the NYU professor..
What I took from the article on AIG was that, in general, those trading in these credit-default swaps, etc., simply thought the FANNIE MAE paper, which was at the bottom of this trashpile, was implicitly "insured" by the U.S. government.
Turns out they were right, eh?
This is an absolutely wonderful presentation! Clear, easy to understand, and most important names names! David Asman is the anchor and does a very good job. I’ve emailed lots of “heads up”. I’m sure FOX will be repeating this often, or at least I hope so. Notice FOX is the only place to see anything like this——perhaps some kudos to them are in order.
Spread the link around when they do.
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