Financial Markets Crisis: Democrats Are Part of the Problem
The U.S. financial markets are in a crisis, indeed! Everyone knows that by now.
John McCain and other Republicans tried to warn us several years ago, but the Democrats turned a blind eye to the brewing financial markets hurricane, and fought to keep the status quo.
McCain, Other Repubs Warned Us...Dems Turned A Blind Eye
The $700 billion question is how do we resolve the problem. Before coming to some semblance of an answer on this, I want to know how we got into this precarious situation.
Raines, Johnson: Obama Advisors At Center of Fannie Mae Meltdown
Here are some high-level root causes I have learned about over the past week, as our do-nothing Congress tries to develop a workable gameplan.
HIGH-LEVEL ROOT CAUSES OF OUR FINANCIAL MARKETS CRISIS...
1. Congress passed legislation to increase home ownership to low-income Americans.
2. Real estate sales agents sold homes to unqualified buyers.
3. Real estate appraisers certified unrealistic home values.
4. Mortgages with high-risk were approved for unqualified borrowers.
5. Fannie Mae and Freddie Mac bought these high-risk mortgages.
6. Wall Street investment firms sold high-risk Fannie Mae and Freddie Mac mortgages to investors.
7. Democrats in Congress successfully fought tighter oversight of Fannie Mae and Freddie Mac.
8. High-risk "chickens came home to roost." Bubble burst! Game over!
Well, well. See points 1 and 7 -- Congress and Democrats. Democrats and many people who support Barack Obama must take some blame for this mess we're in. Franklin Raines and Jim Johnson, both of whom are Obama advisors, ran Fannie Mae into the ground. Congressmen Barney Frank and Chris Dodd both fought tooth and nail to block efforts to rein in Fannie Mae and Freddie Mac. Absurdly, Frank and Dodd are now saying they know how to fix our financial markets problem, after saying there were no issues with how Fannie Mae and Freddie Mac operated and were regulated. To boot, they want $700 billion of our hard-earned and heavily-taxed money.
The proposed $700 billion price tag sucks big time! I just can't stomach the idea of a bailout for Wall Street greed and Washington ineptitude. Below are some things I'd like Congress to know.
THINGS THAT WOULD MAKE ME HAPPY...
1. Don't give Congress one thin dime of the $700 billion request (review each situation, case by case).
2. Arrest Barney Frank and Chris Dodd (stupidity is a crime).
3. Arrest Franklin Raines and Jim Johnson.
4. Wall Street investment firm executives need to pony up some dough into the pot (these guys are
Obama's buddies, so it's patriotic of them to invest).
5. Love the idea of an insurance fund (like the one that protects depositors up to $100,000 per bank).
6. Investors need to understand they just can't get 100 percent of their money back (that's business).
7. Make loans available to keep financial markets functioning (they don't need $700 billion today).
All this said, my conclusion is Washington is part of the problem, and Obama is just too inexperienced to be an effective change agent to fix it. It will take someone with the courage and experience to stand up to anyone to work on behalf of the American people. And that person is John McCain, the maverick!
John McCain is Right!!!...Even Barack Obama Says So
John McCain and other Republicans tried to warn us several years ago, but the Democrats turned a blind eye to the brewing financial markets hurricane, and fought to keep the status quo.
McCain, Other Repubs Warned Us...Dems Turned A Blind Eye
The $700 billion question is how do we resolve the problem. Before coming to some semblance of an answer on this, I want to know how we got into this precarious situation.
Raines, Johnson: Obama Advisors At Center of Fannie Mae Meltdown
Here are some high-level root causes I have learned about over the past week, as our do-nothing Congress tries to develop a workable gameplan.
HIGH-LEVEL ROOT CAUSES OF OUR FINANCIAL MARKETS CRISIS...
1. Congress passed legislation to increase home ownership to low-income Americans.
2. Real estate sales agents sold homes to unqualified buyers.
3. Real estate appraisers certified unrealistic home values.
4. Mortgages with high-risk were approved for unqualified borrowers.
5. Fannie Mae and Freddie Mac bought these high-risk mortgages.
6. Wall Street investment firms sold high-risk Fannie Mae and Freddie Mac mortgages to investors.
7. Democrats in Congress successfully fought tighter oversight of Fannie Mae and Freddie Mac.
8. High-risk "chickens came home to roost." Bubble burst! Game over!
Well, well. See points 1 and 7 -- Congress and Democrats. Democrats and many people who support Barack Obama must take some blame for this mess we're in. Franklin Raines and Jim Johnson, both of whom are Obama advisors, ran Fannie Mae into the ground. Congressmen Barney Frank and Chris Dodd both fought tooth and nail to block efforts to rein in Fannie Mae and Freddie Mac. Absurdly, Frank and Dodd are now saying they know how to fix our financial markets problem, after saying there were no issues with how Fannie Mae and Freddie Mac operated and were regulated. To boot, they want $700 billion of our hard-earned and heavily-taxed money.
The proposed $700 billion price tag sucks big time! I just can't stomach the idea of a bailout for Wall Street greed and Washington ineptitude. Below are some things I'd like Congress to know.
THINGS THAT WOULD MAKE ME HAPPY...
1. Don't give Congress one thin dime of the $700 billion request (review each situation, case by case).
2. Arrest Barney Frank and Chris Dodd (stupidity is a crime).
3. Arrest Franklin Raines and Jim Johnson.
4. Wall Street investment firm executives need to pony up some dough into the pot (these guys are
Obama's buddies, so it's patriotic of them to invest).
5. Love the idea of an insurance fund (like the one that protects depositors up to $100,000 per bank).
6. Investors need to understand they just can't get 100 percent of their money back (that's business).
7. Make loans available to keep financial markets functioning (they don't need $700 billion today).
All this said, my conclusion is Washington is part of the problem, and Obama is just too inexperienced to be an effective change agent to fix it. It will take someone with the courage and experience to stand up to anyone to work on behalf of the American people. And that person is John McCain, the maverick!
John McCain is Right!!!...Even Barack Obama Says So
Have y'all seen the new video up on No Quarter and Just Say No Deal on Obama's truth squads in MO? Please load it here if you can, its unreal what is happening in this country. Let's try to get the word out on these KGB tactics, and see if we can't neutralize this. Its right down scary!
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Someone reported on another blog that the truth squad is now in Pennsylvania with the support of Gov. Rendell.
"Obama launches PA Truth Squad"
http://www.msnbc.msn.com/id/26841814/
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So now Obama has a badge wearing goon squad visit you at home all allegedly in the name of Truth. Who are they kidding?
See Attacking Obama's Missouri ‘Truth Squad’ - http://blogs.abcnews.com/politicalpunch/2008/09/attacking-obama.html
This is just another way of trying to silence those who are intelligent enough to see Obama and his merry band of thugs for whom they are. My vote is my own. My voice is my own.
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Here is video confirmation of Obama's badge wearing, intimidating Truth Squad.
http://www.kmov.com/video/index.html?nvid=285793&shu=1
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This is why Obama can not become President. The Democratic Party is guilty of committing the scam of a century perpetrated on the American people. They represent all that is ugly about the world and must pay for their sins. Even with everything going on right now, the Democratic Party is still trying to scheme their way around this. The Democratic Party has betrayed us and are undeserving of a November victory. Excellent blog POCPUMA, excellent blog.
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Lets all recognize that the democratic party has become worst than the republicans. The democrats have been in control of congress for 2 yrs and have done absolutely none of what they promised to do. Actually, they have done worse supporting bills such as the FISA which they claimed they would not. No hard-stand on ending the war. Just hanging around to blame everything on the republicans and taking no responsibility for their hand in the Housing/economic crisis. Blame everything on the republicans as there were no democrats a party to any economic downfalls happening today. None of them voting on the war, just the republicans ...NOT!! As Hillary once said, Shame on them, Shame on them!!
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Excellent read and it is totally honest to the core, unlike Barack Obama ads. McCain/Palin- the real needed change for our economy.
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Speaking of Wall Street, there is an excellent video making the rounds for weeks now which keep getting booted off the sites for copyright infringment, which PUMAs are not condoning.
In any event, the video is back with new music and worth checking out. I think it's something worthwhile to share.
Burning Down The House: What Caused Our Economic Crisis? NEW
http://vodpod.com/watch/1047512-burning-down-the-house-what-caused-our-economic-crisis-new
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Submission for a time-critical guest posting, if you please, permission granted:
Investigating Obama: Career Path Toward a Neo-Marxist Presidency
http://investigatingobama.blogspot.com/2008/10/baracks-career-path-toward-american.html
Facts are documented via Web links. Many good pieces have already been written about the socialist / neo-Marxist elements of Barack Obama‘s life (numerous of which are cited here) but this is the only piece I know which thoroughly and concisely documents the entire story in a 1-page article.
It is intended to foment blog buzz, media education, plus numerous emails and even some door-to-door delivery.
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I'm working the phones from home today, tomorrow night and I'm taking off work Tuesday to call all day. I'm calling the swing-states of PA, FL, IN and Ohio. I hope all 44,448 plus www.team sarah.org (join now if you are not a member) members will do similar things to get out the vote. By the way, I am a Hillary Democrat for McCain/ Palin. Let's all rock the vote. This will be my last message on Team Sarah until after the election. I will be spending my time calling and blogging on sites that need convincing to get out and vote or vote the right way. That's not here on this sight because we are all on the right team. Let's rock the vote and never give up!!!. It is definitely not over. McCain/Palin 08 for a stronger and safer America at home and abroad.
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