GF,
Thanks for the link "Obama's Circle". It was difficult to me on the outside to figure how this bloke, who I had never heard of, and I doubt many outside of his circle had, to suddenly appear on the scene with so much success.
When one is advised of his political and financial backers, then it becomes very much clearer.
"I'm disappointed and disgusted with my own Republican Party as I watch them attempt to strong-arm a bailout of some of America's biggest corporations by asking taxpayers to suck up the staggering results of the hubris, greed, and arrogance of those who sought to make a quick buck by throwing the dice."
You forgot Reagan was a FDR Democrat before he saw the light!!
It is only hard if one never leaves the old Confederacy. Mark Twain was asked by a New Yorker about how provincial Hannibal, Missouri was. The answer-In Hannibal, we know everything about New York, what does New York know about Hannibal? Americans are very provincial about the world, because they refuse to go out into it. I had Airman No Stripes that knew more about the world than the average college grad. We have guys just about seize up when off to Africa-until they get there. Then it varies. Take a walkabout in Dakar, sometime.
The market tanks anyway and the taxpayer is holding worthless paper that used to be worth 100s of billions?
The bailout details are out and as I write...
FTSE down 3.22% and falling
DAX down 3.00% and falling
CAC 40 down 3.24% and falling
Hang Seng finished 4.29% down
Nikkei finished 1.25% down
Dow futures down 204pts and falling
SP500 futures down 20pts and falling
NASDAQ futures down 35pts and falling
There is speculation that Main Street is rather cranky that elected officials are bailing out Wall Street (for the reasons outlined by Mike Huckabee above).
I consider myself a fairly well rounded person with an interest in international politics. Of your list GTF, the only ones I had not heard of before they arrived on the scene are Jimmy Who? and Bill (my fly is undone) Clinton.
I had Airman No Stripes that knew more about the world than the average college grad.
Just after Gulf War 1, we entertained some (very young) sailors off a USN carrier that was visiting the Sandpit (and judging by the number of parcels going up the gangplank, saving the local carpet industry). They weren't college grads, granted, but they couldn't point out where they were on a globe we had in the house. What was really surprising - (and more than a little scary) - was that they weren't even interested in finding out.
In my day wearing blue or green, even the lowliest (Ozmate) infantryman or general hand had a very strong opinion on the war he was being sent to fight - (and usually a very cynical one, which in the long run, turned out to be quite accurate) - that he was more than ready to share with 'sir' if ever the occasion allowed it.
It was from an enlisted man I first heard the classic: "Fighting for peace in Vietnam is like f**king for virginity." What's the bet today's squaddies have a very similar phrase about Iraq or Afghanistan?
You'd have thought there would be a bigger interest in this vote on jetblast this evening, so what happened did Britney shave her hair off again or..?
Another fine prediction by Bush too, that this bailout would be passed. Why didn't they just pull a fast one like before and vote at 3am on a sunday or some such
Sorry late reply, had heard of all the names you mentioned, difficult to recall how far before their presidential bids, but they had made the news for varying reasons in this neck of the woods.
A stone is dropped in America and the ripples affect the rest of the world, that is being displayed very graphically right now.
Having studied the Cloward-Piven Strategy paper, and the biography of George Soros, and the ACORN organisation a lot of this behaviour is starting to show a definite pattern. It was helped by the greed of many people who probably did not realize the degree to which they were being manipulated.
Like so many Democrats, Obama is hip deep in the mortgage finance mess.
This article, which should have been front page in the NY Times but will never see the light of day there, exposes Obama's links to the Chicago political machine cesspool.
From Stanley Kurtz at the NY Post:
"In the name of fairness to minorities, community organizers occupy private offices, chant inside bank lobbies, and confront executives at their homes - and thereby force financial institutions to direct hundreds of millions of dollars in mortgages to low-credit customers.
In other words, community organizers help to undermine the US economy by pushing the banking system into a sinkhole of bad loans. And Obama has spent years training and funding the organizers who do it."
The tactics of aggressive intimidation, so apparent in Chicago and Obama's group "Acorn", are now prevalent in Obama's campaign against journalists in Missouri (see State of Missouri-Governor's Press Announcements - 2008 )
And people want to elect Obama to a Democrat-controlled House and Senate, where his power will be unchecked?
The tactics of aggressive intimidation, so apparent in Chicago and Obama's group "Acorn...
Matari,
Don't take it personally because I know you have plenty of company out there in the right-wing bleachers but "The Masters of the Universe" don't reside in the slums of Chicago -- they're on Wall Street.
To think that a group that represents lower to middle-class people -- ACORN -- is responsible for the meltdown of the world's greatest economy is just...well, it's just plain crazy. Sorry, but I don't know of any other way to put it.
I had a guy on another BBS making it seem that ACORN was going to get 20% of whatever return we might expect from bailout (that didn't happen.) In truth, 20% was supposed to go to HUD. ACORN receives grants from ACORN -- one of the thousands of organizations to get them.
ACORN could be the most corrupt housing advocacy group on the planet (I have no idea) but...
Quote:
In other words, community organizers help to undermine the US economy...
...trying to blame the fall of the U.S. economy on them is just plain nuts.
...trying to blame the fall of the U.S. economy on them (the community organizers) is just plain nuts.
Easy now, the quote was "community organizers help to undermine..."
The point is, an unholy (I know you love that word) symbiotic relationship existed between the fat-cat masters of the universe on Wall Street and the democrats and their community activist enablers. A perfect swarm, so to speak.
Obama didn't single handedly create this mess...I never said he did, nor did the author of the piece.
But only partisan denial would prevent you from admitting that heavy-handed democratic pols used thuggish tactics to undermine the lending industry.
Wikipedia obviously has a very sanitised view of Acorn, maybe scribed for them by Madeline Talbot?
"Indeed, Mr. Obama has extensive connections with the granddaddy of activist groups, Acorn (Association of Community Organizations for Reform Now), which has gotten millions in government grants for its low-income housing programs. In 1992, Acorn hired Mr. Obama to run a voter registration effort. He later became a trainer for the group, as well as its lawyer in election law cases.
Acorn’s political arm has endorsed Mr. Obama while its “voter education” arm has pledged to spend $35 million to register people this fall — despite a history of vote fraud scandals that have led to guilty pleas by many Acorn employees.
The housing bill now before Congress would set up a slush fund for community organizations such as Acorn. But Acorn has gone quiet in its lobbying for the bill this week with the news that one of its employees — [Dale Rathke,] the brother of Acorn founder Wade Rathke — had stolen nearly $1 million from the group. Mr. Rathke decided not to alert law enforcement or the organization’s board, and kept his brother employed at Acorn until last month. “Is this the kind of group we want getting taxpayer money?” asks Rep. Ed Royce (R., Calif.)"
Talk about Hobson's choice.I wont be voting.McCain(nice guy) is unsuitable as President and Obama is unqualified.Both their VP selections are woefully unsuitable(Biden) /unqualified(Palin).Last good Pres we had was Reagan.Last great one was FDR.I see 4 more years of real uncertainty.Frankly,its embarassing as an American that this is the best we can come up with.Giuliani and Clinton were the 2 best candidates.If McCain can persuade Powell to join his team,there might be some light at the end of the tunnel.
Mr Rananim has summed it nicely for this antip
An FDR is needed but you will have to make a choice between Buzz LIGHTYEAR or Shreks Donkey
But Acorn has gone quiet in its lobbying for the bill this week with the news that one of its employees — [Dale Rathke,] the brother of Acorn founder Wade Rathke — had stolen nearly $1 million from the group. Mr. Rathke decided not to alert law enforcement or the organization’s board, and kept his brother employed at Acorn until last month. “Is this the kind of group we want getting taxpayer money?” asks Rep. Ed Royce (R., Calif.)"
That's rabble-rousing ACORN for ya! As corrupt a rent-seeking group as there is. Bunch of parasites living off Uncle Sam and the DNC.
tinpis-read "The Forgotten Man" by Shales and "The Monetary History of the US", if you want to know why. The New Dealers screwed up the economy by contracted the money supply, FDR diddled daily with price of gold convertibility, abrogated commercial contracts based on gold (gold standard), forced bankruptcy courts to tear up mortgage contracts, and generally caused such turmoil in business that the economy stopped. 1937-38 was so bad, it was called the recession within the Depression. Hoover and FDR made the Panic of '29 a Great Depression.
Here is more on ACORN, NR but you can Google the details. Click here
GF
Last edited by galaxy flyer : 30th September 2008 at 02:11.
Think of the mortgage securities market as a poker game being played on a ship. The game is grinding to a halt, because so many players have lost most of their chips. So they come out on deck and shout, "Emergency! Emergency! The ship is about to sink! Everybody needs to give the ship's Bursar authority to play poker, using money from the ship's vault!"
It's not clear that the ship is sinking, or how reviving the poker game would help if it is.
Getting my sock ready to stuff my money in it. 
Linear Mode
