They don't want to look at any of this. Big thanks to Barney Frank, and Bill Clinton.

JMartinez and Cy keep up the good work.

As I look at the dates (2003) on these links it was during the time when the Republicans had all the votes and could have passed these bills. The last link if you dig finds that McCain signed onto this bill when it was already dead. The more you dig the more you find out.
The conclusion I find is we have a bunch of Greedy FAT Pigs (Democrats, Republican, friends in high places, banks, Realtors, lobbyist, etc. etc.) that ate at the trough and now we have to pay for what has already been ate. Personally I think all their bank accounts should be confiscated but I guess that would not be democratic. I believe those close to the situation, knew exactly what was going on and are just as guilty as those doing the taking, for not coming forward. Give a person and inch and they take a mile.
As my Father would say a "Sad state of affairs".

What a pathetic indictment, and sadly, Congress goes along its 'merry way'! What is also sad, where do you see these facts in the main stream media???? This is a sad state of affairs! Shutter to think of a liberal White House and Legislative Branch with operatives outlined in your sites!! SCARY!!!!!

What's your take of the above?
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I think there is blame on both sides. I posted this:

Fred

The laws governing the massive leveraging can be traced to the amending of the Glass-Steagall in Act in 1995 under Clinton and voted for by all the Republicans and one Democrat.

Then came President Bush's 2003 “American Dream Downpayment Act” followed by “The Zero Down Payment Act of 2004” introduced by Republican Rep. Pat Tiberi of Ohio.

Nobody's hands are clean in this one.

Politically, the argument is that the administration didn't administer any oversight and Congressional Republicans weakened the laws through deregulation. That's a winning argument for Democrats, mainly because the R's have spent a lifetime complaining about the D's government regulation and interference. All that works against the R's now.

If you refer back to my link, catch the analysis from Politics and Critical Thinking at the bottom. It is the best two page summary I've seen and they're fact checking Obama.

Thanks!! From what I can see HR 3755 was never passed.

Nonetheless, I'm disappointed with the whole darn bailout thing. Yes it was a very laudable scheme of trying to provide home ownership to everyone; however, we are now looking down the barrel of a very large gun since electing to choose something that "feels good" rather than the hard and cold economic reality that the "bottom-line" brings.

I guess I should have done a better job of deciding who to vote for. I will try not to make that mistake again.

Thanks for the inside skinny!!!
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There was never any intention for banks and investment houses and bundlers, and so forth, to encourage local banks to make loans that were not according to ordinary banking loan rules!
Adequate home worth for the loan, and income ability!

The law was to stop "redlining," NO loans in an area regardless of value and income!
How soon we conveniently forget!

Actually, I'm horrified. Scary stuff, unprecedented. I'm for a non-partisan solution for the country. After that, I'll spin it to make it all the R's fault.

Right now I'm waiting for Sarah Palin to come up with a solution to the underlying economic problems brought on by the increase leverage due to unsecured derivative contracts financed by debt we sold to the Chinese.

HAHAHA.

Her answer to that one would be: "I don't know what that is." Just as was her answer to Bush Doctrine!

No wonder Alaska is looked upon as lower than Alabama's hogs and Florida's schools!

You seem to have most of the answers. Why don't you run for office?

I only have opinions not answers. The only thing I'd run for is the border!

I'm so tired of Speaker Pelosi telling the American public that we are going to take care of all those high flying CEO salaires as thought this was the problem. Gees, give us a break lady.
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Maybe you think the taxpayers should pay them more for failure?
If there was any other way to stop it, I agree, but greed is good!

You've got to admit that she has more on the ball than Harry Reid. C'mon, you've got to admit that. It's a low bar but you've almost gotta give her that.

(insert stuff Cal won't allow here)

(and here)

(and here)

What can I say other than he's a real fine one.
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I want to thank you also. I really appreciate your very insightful information. Now, if only I could understand it. Maybe we can make dumpster diving an Olympic sport.

"I can't wait until tomorrow, because I get more lovable every day."

Thanks!
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Will even one Democrat acknowledge this? No, the'll just continue on and vote for Obama. Pitiable if they were only hurting themselves but they damage everyone of us and our families.

For now the "agreement" fell through.

I think in the long run we will be a stronger country if we tell Wall Street to go pound sand. Some companies need to fail.

On the other hand I will have to work until I die.

As a country, as a people we will get through this.

Congress is hearing something like 90 to 1 against, MSNBC, from their constituent's. Some blogs have put it at 300 to 1 against.

But if they, Congress, vote anything like the PTC city council, it will pass 3 to 2.

Thanks Cyndi.

This says a lot about McCain.

He hired someone to begin moving about the country, eating countless rubber chicken dinners, staying in a dozen different hotels every month, while constantly establishing contacts, staying in touch with the media, keeping up to date on all major issues that would be important to McCain's potential run for The White House for a great price of only $180k per year. Sounds like a bargain to me.

Considering that Barack began his political career and ultimate run for the Presidency at a very young age, I suggest to you that there is some comparisions. While McCain pays a professional consultant to begin his run for the Presidency, Barack was surrounding himself with "unpaid" "community organizers", such as Ayers, Wright, Rezko, and Frank Marshall Davis. One a terrorist, another a racist, the third a criminal financier, and finally an avowed black communist.

So again, what exactly is your point?

-----
Oh, and one more comparison.
While Barack claims his 2002 speech against the War in Iraq was a sign of his character of conviction and judgment, in actuallity, it was a political move on his part to shore up his very liberal base. This immediately propelled him to the 2004 Democratic Convention. He has continued until recently to prove himself very liberal and anti-military.

Instead, while McCain was paying this consult to start his campaign for the last three years, McCain apparently wasn't getting the messages he was sending McCain.(You know McCain probably couldn't figure out how to read the emails he was sending.) Which means, McCain, while planning a run for the White House made dozens of extremely moderate votes and speeches. He was slammed for immigration, comments about torture, about campaign finance, not to mention, buddying up with several very despised members of the DNC. This proves that McCain, while sometimes arrogant and short tempered, still allows his convictions and principles to drive his decisions.

Remember, the President of the United States can not vote Not Present!

So again, what exactly is your point?

I'm venting because our country is on the verge of losing a grasp of itself and the ones that are really going to suffer are those of us that "played" by the rules. Richard, I'm watching my 401K going down the drain and the value of my house spiraling downward. We are paying incredibly high fuel prices because the dollar is not near the value that it used to be. My parents, who are retired, are also watching as their savings evaporate as their investments and home value shrinks. I pray for the future of both my sons but I’m very worried that their standard of living is going to decline.

Do you care to speculate who will pay for the "The Great Sellout of 08"? How about you, me, git, hutch, sniffles, Tug, Jane, Davids mom, Main Stream and rest of our blogging community. The kicker is that according to Secretary Paulson, we have to do this otherwise the pain could be even more. In that case, you, me, git, hutch, sniffles, Tug, Jane, Davids mom, Main Stream and rest of our blogging community are still on the hook.

As for Mr. Williams, he was a lobbyist that headed up a group called the Homeownership Alliance, a Fannie Mae and Freddie Mac advocacy group, which the Wall Street Journal reported (in August 2000) had a website creed of being dedicated to: "exposing and defeating trends that would harm consumer access to the lowest-cost mortgage option." The group viewed as threats those who are "seeking to spread unfounded fears about risks to the housing system." Somehow, I don’t think he had the interest of the middle class in mind.

Richard, I’ll be honest with you. I have done the exercise and overlaid the platforms of both Obama and McCain. I do not like what I have seen.

The forgotten middle class.

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It was not McCain’s campaign that was paying him the $15,000 a month, it was Freddie Mac. And in spite of McCain’s campaign earlier lies about it, the payments continued until August this year when Freddie and Fannie got taken over by the government. Davis’s job was to be close to McCain without any specific task to perform. It was a pure access buy. McCain was sold to Freddie Mac by Davis for $15,000/month.

Richard is right when he says: “This says a lot about McCain.”

http://www.johnmccain.com/mccainreport/Read.aspx?guid=74063c9d-7cb5-47c9-acf6-53c0c2d88376

This is McCain's absolute rebuttal to every one of these charges which are absolutely false.

I find it interesting that you highlight this false association as being relevant to McCain, but you shy completely away from all of the infamous associations that Barry is trying to hide. From Marxist, Terrorists, Racists, I see little credibility in your smears.

Otherwise, keep "Moving on".

Is Main Stream related to you, cuz she sure sounds like you two know each other?

The reason this is important Richard is that it appears Rick Davis was bought and paid for solely to provide access to McCain which apparently he did. The issue is relevant because it affects people now because the Republican administration is in the process of nationalizing the economy and sticking us with the bill. It's far, far more damaging that poor ole Obama knowing someone's sister who's cousin knew somebody 20 years ago.

Besides, I bet Davis is lying. He's skipping out from reporters and I expect he'll be resigning very soon. I told you before that this was a stupid tactic by McCain. Particularly after the lies that Phil Gramm had been run off the campaign and McCain's lying about having no knowledge of that woman who destroyed HP having a $42 million golden parachute and laying off 20,000 people.

Rick Davis skips lunch with reporters

McCain Gets 'Boomeranged'

Rick Davis Busted

People who live in eight glass houses shouldn't throw stones.

Jeff, perhaps Richard Hobbs is still clinging to the fiction that John McCain has some sort of personal integrity (the "2000 model" of McCain, if you will).

In 2008, most people realize that John McCain would rather lose his integrity than an election.

McCain was a P.O.W. ... His honor is M.I.A.

I suspect much less than you. I work for a non profit company - an airline.
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If Wilbur and Orville Wright had known how much money there would be in airlines they probably would have set fire to their airplane.

I don't get your attitude on this!

Do you have any idea how much money has been made by Delta and other Airline executives and pilots over the last 50 years?

Do you have any idea how much money Banks have made off them?

Do you realize that PTC and other towns here would be nearly naked without all that money?

Don't you see the thousands of execs scampering out of NY toward the Islands with their cash in tow from all those outfits we have bought, you and I?

Hey there is money for everyone except the stockholders!

I used to be in that last category.

Ouch.

every blog has its $.
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For bailing out the foreign banks!

"They do business here as part of our economy. Where their office is makes no difference in this situation."

In that case we could continue to bail-out Iraq, Afghanistan, Israel, and maybe also, Africa!

I need it for my personal economy How about they guarantee every check I write so I can stop balancing my checkbook

I'm sooooo upset I've taken up drinking again. Perhaps when I wake up in the morning this will only be a bad nightmare. Good night all.
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McClatchy Newspapers also alludes to Section 8 with concern, citing the "unfettered authority" that Paulson would be granted, and noting that the "law also would preclude court review of steps Paulson might take, something Joshua Rosner, managing director of economic researcher Graham Fisher & Co. in New York, said could be used to mask previous illegal activity." Jack Balkin also gives the matter the sort of attention it deserves on his blog, Balkinization.

one cannot overstate this: Section 8 is a singularly transformative sentence of economic policy. It transfers a significant amount of power to the Executive Branch, while walling off any avenue for oversight, and offering no guarantees in return. And if the Democrats end up content with winning a few slight concessions, they risk not putting a stop-payment on the real "blank check" - the one in which they allow the erosion of their own powers.

Don't forget "construction" loans guarantees!
You know, all those houses half finished and sitting there that can't be sold or refinanced?
And, all those strip malls and commercial buildings that are financed with "construction" loans?
Also, some people and small companies have started buying up these foreclosed homes and some older ones to renovate and flip----with "construction loans. They can't "flip" them! Bail them out!

I think the problem is those "construction" loans come ALL due in so many days or months!!!!!!

We failed to have a contract on any loans we have that says the government will pay them if we can't due to the bank problems!
Not so with the hedge crooks who are leaving with multi-millions!

If you want off this Island, Liberia, Haiti, Georgia, Siberia, Cuba, and even Mexico will take you without question if you are American with some cash!

What happens to us idots that do without so that we can pay our daily/monthly/yearly obligations?

I know, were S.O.L.!

Sometimes, the satisfaction of knowing that you're doing the right thing is all you've got!

Eat it and keep moving forward is all we can do.

and I vented and it felt good!
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YOU got it!!!

It is not socialism when only the ones who made the mess are bailed out........it is "good for the country!"

Hypocrites are a dime a dozen in the Baptist Church and the Republicans!

Now the thousands who die and get ill every day with no or little insurance can simply suffer....no bailout of them! This two trillion dollar bailout would have eliminated all health problems!

But the bankers must be saved!

I say fire them all, make the bank stockholders stock wothless, and start over with strict regulation of the money-changers!

One year in jail for everyone of them in decision making processes.

We are in a recession and lucky if a depression doesn't follow anyway due to greed and no compassion.

So, it sounds as though my friends that are buying generators, guns, and canning their own food aren't so crazy after all.

These automakers continued making their gas guzzlers even after knowing what the situation was. Years ago when gas was scarce they started making smaller cars with better milage, once that scare was over they went right ahead making them bigger and bigger and inferior in quality to imports. Between that and their exorbitant salaries for upper management and their golden parachutes they dug their own
graves.

I have been careful with my money--bought houses, cars, etc I could afford. If I couldn't afford something I did without it. Why do I and others like me who lived within their means have to bail out people who spent what they didn't have? Why should we bail out greedy lenders who knew people couldn't pay those mortgages, and why should we bail out automakers. When any of these entities were making gigantic profits were they made to share with us? Of course not,stupid idea right? --so why should we be called upon to clean up their messes?

I'm afraid the world as we have know it is going to change. Doing the right thing and being wise with your money no longer has any merit or value.

According to Bloomberg, Henry Paulson is sending a financial-rescue plan worth about $800 billion to Congress as Democrats prepare to turn it into a vehicle to help people with high-cost mortgages stay in their homes.

Bloomberg Story

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Only ones I now know who are being bailed out are the BANKS and their owners and stockholders---the very ones who created the mess!

Bank stockholders now won't lose everything and will have the buy-out tax money to start the same stuff again!

Congress may try to alter the trillion dollar bill (or maybe two trillion)so that SOME people can stay in their homes---certainly not those who have already been foreclosed.

I suspect only the high wage earners who bought 500 thousand and up to two million property will be mostly the ones who can stay with a new mortgage at low interest! Don't know about the second and third mortgages!

Why would they give those not yet foreclosed a loan who can't pay for what they have? Just as they did before?
They won't, of course!

You know better!

I don't know other than Bloomberg's story stated "to help people with high-cost mortgages stay in their homes." I guess one can try to split hairs and argue if it is "direct" or "indirect" aid.

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I suppose you were for the bankers bail-out?
How about the airlines?
Just trying to see where you are!

I'll say hoard food, our money after the bailouts won't be worth much. Where can we buy a little Gold or is it a little too late for even that. My MOM in-law always said, if you can't use greenbacks at least with gold you can buy a little food. I still know how to pluck chickens, don't much care for ringing necks though, poor things. I sure could ring a bunch of other necks, if I could get my old fingers our their corrupt necks. Now that we are a Socialist Country do you think we can have health care?

Gold is a very good investment right now. Here is a site I use.

www.blanchardonline.com to place an order, they will call you after to confirm your order.