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Post by Doc on Sept 25, 2008 5:24:17 GMT -5
Well, space aliens don't need paper currency..so. *Yes, I know that Ben Stein did not write the entry about the blackmail. Hint: remember when all of those European Monarchs so graciously gave up all of their power? Well, they didn't really give it up. Didn't they consolidate under one, big, chopping bloc? Join the Guillotine Club?
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Post by P(D)enny La(i)ne on Sept 26, 2008 10:12:27 GMT -5
Well, at least one of our Representatives seems to "get it".
Let me introduce to you...
The one and only Marcy Kaptur.
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Post by mommybird on Sept 26, 2008 13:30:23 GMT -5
P(D)enny, that makes sense to me too. Thanks for posting that !
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Post by JoJo on Sept 26, 2008 14:37:50 GMT -5
Bravo to her! She left out the part about hard time in prison for these greedy f***s. (and a roommate named Bubba)
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Post by P(D)enny La(i)ne on Sept 26, 2008 15:12:25 GMT -5
Since the traitors in the MSM aren't reporting it, I'll mention here that there was a demonstration last night in front of the NYSE that Miss La(i)ne and I attended. As we walked from Broadway down Wall Street, we passed several Brokers who were pumping their fists in approval and singing "we didn't start the fire!". There were only a couple thousand people there, but it sure felt good to do SOMETHING. Here's my favorite sign: More here: mail.google.com/mail/?ui=2&view=js&name=js&ver=-3Uo-mh7Av0&am=X_E4pcT3cyGIkYfbUQ
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Post by JoJo on Sept 26, 2008 17:37:54 GMT -5
Hah I saw that, we must frequent the same sites. I have an idea, how about a crowd of people holding up signs with pictures of pitchforks on them? (as in the natives are coming for you in the night with pitchforks and torches) They'll get the idea.. Best to not use actual pitchforks, probably hard to find any in NY anyway.
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Post by iameye on Sept 26, 2008 20:30:01 GMT -5
Best to not use actual pitchforks, probably hard to find any in NY anyway. I wouldn't be too sure about that, they're just disposable ones.... the thing about this bail out is that that some sort of "relief" will be negotiated. Wish I were so lucky in life to get my foot in the door at all. really, we should file a mass class action suit to contest "pain and suffering" of every american citizen ( plus whoever else is here, too) and anything else litigation - wise.......we can think of, legally. I can compromise too, no problemo. those photos were priceless, pl.
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Post by Doc on Sept 27, 2008 2:44:15 GMT -5
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Post by TotalInformation on Sept 27, 2008 4:18:58 GMT -5
Paulson may buy the bad mortgages, foreclose on the houses and then DESTROY THEM to prop up the prices of everyone else'es house. Anything is possible. Paulson is in tight with the Agenda 21 idea of driving people out of the country is into cities. I read somewhere, think it was in the Boston Globe today, something about how "we need to get home prices rising again".. Put down the crack pipe.. The median home price needs to be at best 3X the median income, which means they have a LONG way to go before it's realistic. Or, only the upper classes can afford a house, take your pick, and since wages aren't going up anytime soon with the only thing we produce in this country anymore is paper shuffling.. They did the only thing left to do in their insane courses of action.. really quite predictable. Only way left to win from this is an over/under on when this comes crashing down. Anyone? I'll say two weeks.
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Post by Girl on Sept 27, 2008 9:42:23 GMT -5
I wouldn't live downtown if they gave me a free high-rise luxury condo... Agenda 21... I wonder if this has anything to do with the ad campaign currently running on our local radio stations; a sarcastic comparison of the "convenience" of life in the city compared to the burbs... I know for awhile they have been trying to discourage people from buying property in the suburbs... get real! There's no land in the city, and the "homes" are nothing but holes in the wall, where you could spit into your neighbor's window. Not to mention it's NOT a place to raise children!
If one could obtain a 4+2 bdr split with a massive backyard for less than half the price of a condo... well, duh-h!
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Post by JoJo on Sept 27, 2008 9:45:04 GMT -5
The last one features the great Karl Denniger. News outlets should get on their knees and beg him to appear on their shows and explain what's going on.. They won't of course, too much truth. Well, some parts of the country have far worse exposure to the bad loans than others. Good luck to them in the rural areas of NH if they try that, we DO have piitchforks and state law still respects the 4th amendment.. However, houses are being razed in some places, especially Michigan, due to them being stripped of anything of value and rendered worthless.
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Post by P(D)enny La(i)ne on Sept 27, 2008 11:26:02 GMT -5
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Post by B on Sept 28, 2008 14:31:26 GMT -5
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Post by B on Oct 1, 2008 19:10:33 GMT -5
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Post by JoJo on Oct 1, 2008 20:19:06 GMT -5
Saw that last night, just made me wish for a Kucinich candidacy.. Ah well. The bailout (not the "rescue plan" news-speak term that MSM is desperately trying to serve up) in under one minute: www.youtube.com/watch?v=Hi9vXKWYaZ8So.. the senate is trying to do an end run around the house by voting on an already existing bill and attaching the bailout to it.. and perhaps hoping to hand it back to the house with a heavy vote in favor, thus applying some pressure, and with a shameless attempt to sway public opinion.. This really should have passed in the first place, I suspect the reason it did not is that the congress persons smelled the torches being lit and saw the pitchforks flying off the shelves..
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Post by B on Oct 1, 2008 20:33:51 GMT -5
Well, I don't think it should have passed. It would have given the treasury secretary unchallengeable authority to make economic decisions, and it wasn't a bill that was only for 750 billion once, but 750 billion any time it was needed, which it would have been, as the actual debt that needs immediate cover is, in fact, much larger. Last but not least, the only beneficiary of the bill would be the bankers who created the problem in the first place (through overselling of derivatives, not real-estate loans.) There was nothing in the bill to help the struggling home owners to pay their mortgages, not even a morgage price freeze.
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Post by JoJo on Oct 1, 2008 20:51:23 GMT -5
By should have passed, I mean it seemed like Paulson had the house ready and willing to do his bidding, and they didn't, much to his shock and dismay. (just to clarify) There's also nothing that allows bankruptcy judges to adjust the repayment terms of a mortgage, if they so choose. The senate passed it 75-24.. Exactly. That much money does not exist.
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Post by JoJo on Oct 1, 2008 21:00:32 GMT -5
Hey, wouldn't it be cool if when you went into a casino, and you couldn't possibly lose? Even better, what would you do if you were dealt a '20' in twenty-one, and you wanted to try for '21', and there was no risk, as the house would just give you back the money you lost? Would you learn what a stupid bet that was, or would you never stop?
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Post by thisone on Oct 1, 2008 21:53:57 GMT -5
On the day before "9/11", the Pentagon - more precisely Rumsfeld, announced that they had misplaced 3.2 Trillion somalians samolians. How comes there wasn't all this hullabaloo?
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Post by JoJo on Oct 2, 2008 4:42:15 GMT -5
On the day before "9/11", the Pentagon - more precisely Rumsfeld, announced that they had misplaced 3.2 Trillion somalians samolians. How comes there wasn't all this hullabaloo? A rhetorical question?
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Post by P(D)enny La(i)ne on Oct 2, 2008 7:50:10 GMT -5
On the day before "9/11", the Pentagon - more precisely Rumsfeld, announced that they had misplaced 3.2 Trillion somalians samolians. How comes there wasn't all this hullabaloo? A rhetorical question? Yup. These guys have been robbing us blind for quite a while now. But it was 2.3 trillion (not 3.2). ;D These things are usually announced late on Fridays in order to minimize their run through the news cycle. They announced this on 9/ 10/01, which made it the ultimate Friday, I suppose. Read up on a guy named Dov Zakheim. He was the Pentagram's Comptroller during this period, and probably needs to be boiled in oil.
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Post by P(D)enny La(i)ne on Oct 2, 2008 10:30:18 GMT -5
Well looky here. Seems like at least a few people saw this mess coming way back in 1999.
Go figure...September 30, 1999 Fannie Mae Eases Credit To Aid Mortgage Lending By STEVEN A. HOLMES New York Times 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. In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans. ''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.'' Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market. [glow=red,2,300] In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''[/glow] Under Fannie Mae's pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 -- a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped. Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings. Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic whites. Home ownership has, in fact, exploded among minorities during the economic boom of the 1990's. The number of mortgages extended to Hispanic applicants jumped by 87.2 per cent from 1993 to 1998, according to Harvard University's Joint Center for Housing Studies. During that same period the number of African Americans who got mortgages to buy a home increased by 71.9 per cent and the number of Asian Americans by 46.3 per cent. In contrast, the number of non-Hispanic whites who received loans for homes increased by 31.2 per cent. Despite these gains, home ownership rates for minorities continue to lag behind non-Hispanic whites, in part because blacks and Hispanics in particular tend to have on average worse credit ratings. In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups. The change in policy also comes at the same time that HUD is investigating allegations of racial discrimination in the automated underwriting systems used by Fannie Mae and Freddie Mac to determine the credit-worthiness of credit applicants. query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=print
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Post by B on Oct 2, 2008 10:37:16 GMT -5
How the Senate voted: www.monstersandcritics.com/people/news/article_1434336.php/The_Senate_Bailout_vote_tally_comp lete_list Akaka (D-HI), Yea Alexander (R-TN), Yea Allard (R-CO), Nay Barrasso (R-WY), Nay Baucus (D-MT), Yea Bayh (D-IN), Yea Bennett (R-UT), Yea Biden (D-DE), Yea Bingaman (D-NM), Yea Bond (R-MO), Yea Boxer (D-CA), Yea Brown (D-OH), Yea Brownback (R-KS), Nay Bunning (R-KY), Nay Burr (R-NC), Yea Byrd (D-WV), Yea Cantwell (D-WA), Nay Cardin (D-MD), Yea Carper (D-DE), Yea Casey (D-PA), Yea Chambliss (R-GA), Yea Clinton (D-NY), Yea Coburn (R-OK), Yea Cochran (R-MS), Nay Coleman (R-MN), Yea Collins (R-ME), Yea Conrad (D-ND), Yea Corker (R-TN), Yea Cornyn (R-TX), Yea Craig (R-ID), Yea Crapo (R-ID), Nay DeMint (R-SC), Nay Dodd (D-CT), Yea Dole (R-NC), Nay Domenici (R-NM), Yea Dorgan (D-ND), Nay Durbin (D-IL), Yea Ensign (R-NV), Yea Enzi (R-WY), Nay Feingold (D-WI), Nay Feinstein (D-CA), Yea Graham (R-SC), Yea Grassley (R-IA), Yea Gregg (R-NH), Yea Hagel (R-NE), Yea Harkin (D-IA), Yea Hatch (R-UT), Yea Hutchison (R-TX), Yea Inhofe (R-OK), Nay Inouye (D-HI), Yea Isakson (R-GA), Yea Johnson (D-SD), Nay Kennedy (D-MA), Not Voting Kerry (D-MA), Yea Klobuchar (D-MN), Yea Kohl (D-WI), Yea Kyl (R-AZ), Yea Landrieu (D-LA), Nay Lautenberg (D-NJ), Yea Leahy (D-VT), Yea Levin (D-MI), Yea Lieberman (ID-CT), Yea Lincoln (D-AR), Yea Lugar (R-IN), Yea Martinez (R-FL), Yea McCain (R-AZ), Yea McCaskill (D-MO), Yea McConnell (R-KY), Yea Menendez (D-NJ), Yea Mikulski (D-MD), Yea Murkowski (R-AK), Yea Murray (D-WA), Yea Nelson (D-FL), Nay Nelson (D-NE), Yea Obama (D-IL), Yea Pryor (D-AR), Yea Reed (D-RI), Yea Reid (D-NV), Yea Roberts (R-KS), Nay Rockefeller (D-WV), Yea Salazar (D-CO), Yea Sanders (I-VT), Nay Schumer (D-NY), Yea Sessions (R-AL), Nay Shelby (R-AL), Nay Smith (R-OR), Yea Snowe (R-ME), Yea Specter (R-PA), Yea Stabenow (D-MI), Nay Stevens (R-AK), Yea Sununu (R-NH), Yea Tester (D-MT), Nay Thune (R-SD), Yea Vitter (R-LA), Nay Voinovich (R-OH), Yea Warner (R-VA), Yea Webb (D-VA), Yea Whitehouse (D-RI), Yea Wicker (R-MS), Nay Wyden (D-OR), Nay Call Your Senators & tell 'em how you feel!
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Post by JoJo on Oct 3, 2008 17:22:13 GMT -5
Our senators know how we feel, they just chose to ignore it. (for our own good of course) At least my rep stuck to her guns and voted NAY the second go-round.. I sent her a thank you note. From the Market Ticker blog, the aptly named Thanks Jackoffs.
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Post by B on Oct 3, 2008 17:43:49 GMT -5
Things are all better now! ;D
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