The Big Bail OUt

[JackSpratts]

Originally Posted by jcmd62

God forbid the taxpayers actually pay to help hard working American citizens save themselves from forclosure and losing their homes that they work 60+ hours a week to pay the mortgages on. That shit is just un-fukin-American.

got a problem with asking those taxpayers?

that's basically the conversation the country's having right now. the days when bush could come out of a religous trance and lay down a scary sermon the entire country swallows are over. finally.

i'm sure you know lots of natavist republicans, so go ahead and ask them, they're who's blocking this bill. conservative republicans say folks back home are against paulson's proposal by a ratio of 100-1. they want a "free market" solution, not a bailout that leaves the country on the hook for hundreds of billions in loans. but free market fingers are all over this disaster so i don't know how that's going to work. meanwhile 200 economists who actually study this stuff say the bill won't work, period, and several who were in favor of it said today things are changing so fast even if this program is passed today it will be obsolete before it begins. sure, warren buffet's a chearleader but who really is behind this, and why, and where is the evidence it will do what they say? don't blame the liberals. i'm one and i'm against it. it's a wall street/washington ripoff unless someone proves otherwise, and i don't see that happening.

- js.

[jcmd62]

Originally Posted by JackSpratts

got a problem with asking those taxpayers?

that's basically the conversation the country's having right now. the days when bush could come out of a religous trance and lay down a scary sermon the entire country swallows are over. finally.

i'm sure you know lots of natavist republicans, so go ahead and ask them, they're who's blocking this bill. conservative republicans say folks back home are against paulson's proposal by a ratio of 100-1. they want a "free market" solution, not a bailout that leaves the country on the hook for hundreds of billions in loans. but free market fingers are all over this disaster so i don't know how that's going to work. meanwhile 200 economists who actually study this stuff say the bill won't work, period, and several who were in favor of it said today things are changing so fast even if this program is passed today it will be obsolete before it begins. sure, warren buffet's a chearleader but who really is behind this, and why, and where is the evidence it will do what they say? don't blame the liberals. i'm one and i'm against it. it's a wall street/washington ripoff unless someone proves otherwise, and i don't see that happening.

- js.

Apearently there's the difference, Your'e a liberal and I'm a TAXPAYER. If I have to choose between paying more taxes to help TAXPAYING HARDWORKING CITIZENS be able to keep their homes and not end up in foreclosure over paying more taxes to help the already ridiculous number of useless US residents that live on welfare, Food stamps, WIC vouchers and all the other government subsidised programs that are ABUSED by MILLIONS of people that are perfectly capable and able to WORK for a living, but CHOOSE not too because liberals like you make it so easy for them to say NO to supporting themselves, then I AM voting for CHANGE.

As for conservatives "blocking this bill", that is a load of usual JS crap. The lib controlled congress has made damn sure for last 4 years that GW has been unable to pass anything more than a kidney stone.

I love the way you assume that because you post it it's true. Your head is permantly lodged in that liberal ass of yours. You are just one of millions that feels the government should give you something for free because someone else has more because they worked damn hard for it, while you jacked off to internet porn and did NOTHING.

Even if that racist Obama gets elected, and he does NOTHING he promised, you whiny fukin libs will just find a way to BLAME somebody else for your usual ignorance.

[JackSpratts]

you're still as nutty as always jc.

[jcmd62]

Originally Posted by JackSpratts

you're still as nutty as always jc.

Sometimes you feel like a nut, sometimes you're addressing one.

[multi]

Few advisers in John McCain's inner circle inspire more loyalty from him than campaign manager Rick Davis. McCain and his wife, Cindy, credit the shrewd, and sometimes volatile, Republican insider with rescuing the campaign last year when it was out of money and on the verge of collapse. As a result, McCain has always defended him—even when faced with tough questions about the foreign lobbying clients of Davis's high-powered consulting firm. "Rick is a friend, and I trust him," McCain told NEWSWEEK last year.

Last week, though, McCain's trust in Davis was tested again amid disclosures that Freddie Mac, the troubled mortgage giant that was recently placed under federal conservatorship, paid his campaign manager's firm $15,000 a month between 2006 and August 2008. As the mortgage crisis has escalated, almost any association with Freddie Mac or Fannie Mae has become politically toxic. But the payments to Davis's firm, Davis Manafort, are especially problematic because he requested the consulting retainer in 2006—and then did barely any work for the fees, according to two sources familiar with the arrangement who asked not to be identified discussing Freddie Mac business. Aside from attending a few breakfasts and a political-action-committee meeting with Democratic strategist Paul Begala (another Freddie consultant), Davis did "zero" for the housing firm, one of the sources said. Freddie Mac also had no dealings with the lobbying firm beyond paying monthly invoices—but it agreed to the arrangement because of Davis's close relationship with McCain, the source said, which led top executives to conclude "you couldn't say no."

The McCain campaign told reporters the fees were irrelevant because Davis "separated from his consulting firm … in 2006," according to the campaign's Web site, and he stopped drawing a salary from it. In fact, however, when Davis joined the campaign in January 2007, he asked that his $20,000-a-month salary be paid directly to Davis Manafort, two sources who asked not to be identified discussing internal campaign business told NEWSWEEK. Federal campaign records show the McCain campaign paid Davis Manafort $90,000 through July 2007, when a cash crunch prompted Davis and other top campaign officials to forgo their salaries and work as volunteers. Separately, another entity created and partly owned by Davis—an Internet firm called 3eDC, whose address was the same office building as Davis Manafort's—received payments from the McCain campaign for Web services, collecting $971,860 through March 2008.

In an e-mail to NEWSWEEK, a senior McCain official said that when the campaign began last year, it signed a contract with Davis Manafort "in which we purchased all of [Davis's] time, and he agreed not to work for any other clients." The official also said that though Davis was an "investor" in 3eDC, Davis has received no salary from it. As to why Davis permitted the Freddie Mac payments to continue, the official referred NEWSWEEK to Davis Manafort, which did not respond to repeated phone calls. One senior McCain adviser said the entire flap could have been avoided if the campaign had resisted attacking Barack Obama for his ties to two former Fannie Mae executives, which prompted the media to take a second look at Davis. "It was stupid," the adviser said. "A serious miscalculation and an amateurish move." Still, this adviser said, McCain's faith in his campaign manager remains unswerving.

http://www.newsweek.com/id/161218

[Sinner]

So how did we get here?

New York Times Article Sept 30 1999.

The Headline...Fannie Mae Eases Credit To Aid Mortgage Lending

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.

Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

cont

http://query.nytimes.com/gst/fullpag...=&pagewanted=1

What I find funny is the fact the liberal media, aka NYT, wrote this praising Clintons efforts. Is the Bush admin as guilty, most likely but to put all the blame on the Bush admin is plain dumb.

[Nicobie]

excellent post. too bad diego(with a _) is busy making babies..

I'm sure the waster would reply.

[floydian slip]

come on guys i know you are smarter than this


there is no difference between dems and reps

they all take orders from the lobbying corporational military industrial complex = MONEY!!

they look out for themselves and leave some cake for us to feel special
they are detached from our reality.

The bailout is Authoritarian Dictatorship.

The FED gives out billions left and right, why do they need a law you ask?

It would give Paulson supreme command.

No oversight. No reprecussions. No Law!!

[malvachat]

Originally Posted by JackSpratts

you're still as nutty as always jc.

His or hers real name is "Little Debbie"
Does that mean he or her's a heshe nic?

http://www.littledebbie.com/products/NuttyBars.asp

[Nicobie]

Originally Posted by JackSpratts

you're still as nutty as always jc.

Even if that racist Obama gets elected, and he does NOTHING he promised, you whiny fukin libs will just find a way to BLAME somebody else for your usual ignorance.

This is so true. Mr Obama (aka peepee head) will get elected.

Then......... turn about will be fair play and I can't wait.

[Nicobie]

QUOTE; Even if that racist Obama gets elected, and he does NOTHING he promised, you whiny fukin libs will just find a way to BLAME somebody else for your usual ignorance.


Obamawama might not be a total tried&true racist (like his wife is), but JC nailed the rest about losers blaming everybody else for their problems.

[vernarial]

Not all of my problems were created by me. I will blame the proper people who created the problems.