The Michigan Messenger: Obama, other Senators ask Attorney General to weigh in on foreclosure list controversy
tomtomiowa
· 1 year ago
wow is this not the same thing obama did in the south side of chicago to squeeze by the incumbent to waltz in the ILL. senate? therefore only having his name on the ballot?
at least Sara was voted in ALL of her Race's both mayor and gov. and she did it with more than her name on the ballot ,they had a choice
obama challenged votors and wound up the only one that was on the ballot? making him the only one to vote for ?
I think the democrats really want biden or dodd for president ,look at who gave who money in the primarys, obama will not really become pres or just for a short time and then the vp will take over?
go to www.opensecrets.org and take a look at sen. harkin's pac fund, he gave cash to biden and dodd for pres, that is why clinton was not picked for vp, as with the amish the clintons have been shunned.
when congress went on vacation there was no banking trouble but once they returned BINGO?
its like a movie script they are following?
whats better than an EARMARK...........A BAILOUT?
what do you get when you put LIPSTICK on an EARMARK? .............A BAILOUT
libdem4
· 1 year ago
...and why do we need a bailout ? Oh right - due to deregulation - a favorite campaign rallying call for the GOP (including McSame !)........thank you, republicans for wasting more of my tax dollars - oh and also for that great record deficit !!
Rayne1
· 1 year ago
The timing of this current wave of nationalization-as-bailouts could have been anticipated for years now; you can thank Phil Gramm, senior adviser to the McCain campaign since he was a key proponent for keeping Credit Default Swaps unregulated.
Frankly, this is all of a piece:
--tax and monetary policy creates ridiculously cheap money to keep economy afloat during Bush's first term, but after the Bush tax cuts have worn out their ability to prop up the economy;
--cheap money increases speculation in housing;
--predatory lenders made loans with the cheap money to people who did not have an adequate level of collateralization for traditional loans;
--these lenders resold these loans which in turn were bundled as CDO's
--investment banks like Bear Stears (RIP) and Lehman Brothers (now bankrupt) purchased the CDO's as part of their portfolio;
-- credit market tightens for many reasons, including the demand for money due to the Iraq War -- speculators drive up the price of commodities, which in turn force borrowers to default on loans and make credit market even worse;
-- foreclosures increase and property values fall, forcing lenders at all points of the credit spectrum to have fire sales to raise cash to cover obligations;
-- investment banks can't sell assets fast enough as they have the least amount of actual collateral;
-- the guarantors of mortgages (Fannie Mae, Freddie Mac) find themselves upside down when too many loans go bad;
-- the insurer of mortgages (AIG) can't sell assets fast enough to raise cash to cover obligations either;
-- and the U.S. Government has little remaining options in its arsenal save for nationalizing these failing entities since choosing not to do so would crash the market globally, and the rich guys that own Congress and the White House wouldn't like that at all.
And this all goes back to the propping up of the economy during Bush's first term, likely coincident with the market slide post-9/11
Who was in office? What party held the majority in Congress? Which party has benefited the most from this propped up economy?
Phil Gramm may have been nominally correct when he said the problem with the economy is all in our heads -- if more Americans were actually literate about the economy, they would realize that this week's frenzied nationalization was set in motion more than 6 years ago.
And it's got nothing to do with lipstick and everything to do with demanding better governance and a better grade of politician and more analysis on the part of the American people instead of shallow talking points on earmarks.
bills2359
· 1 year ago
it seems that dirty tactics are of late indiginous to the same republican party who backed george bush in the past two elections: does nobody remember the black, poor voters disenfranchised in florida in 2004? come on folks. what's going on in michigan is the usual party mumbo-jumbo to justify their tactics. the republicans have bedcome incomprehensibly sleezy. they prostitute the very tenets of the democracy they so loudly blow their horns about. mccomb county republican party; shame! you spit on the spirit of fairness and brotherhood. how do you people sleep at night?
All Comments
at least Sara was voted in ALL of her Race's both mayor and gov. and she did it with more than her name on the ballot ,they had a choice
obama challenged votors and wound up the only one that was on the ballot? making him the only one to vote for ?
I think the democrats really want biden or dodd for president ,look at who gave who money in the primarys, obama will not really become pres or just for a short time and then the vp will take over?
go to www.opensecrets.org and take a look at sen. harkin's pac fund, he gave cash to biden and dodd for pres, that is why clinton was not picked for vp, as with the amish the clintons have been shunned.
when congress went on vacation there was no banking trouble but once they returned BINGO?
its like a movie script they are following?
whats better than an EARMARK...........A BAILOUT?
what do you get when you put LIPSTICK on an EARMARK? .............A BAILOUT
Frankly, this is all of a piece:
--tax and monetary policy creates ridiculously cheap money to keep economy afloat during Bush's first term, but after the Bush tax cuts have worn out their ability to prop up the economy;
--cheap money increases speculation in housing;
--predatory lenders made loans with the cheap money to people who did not have an adequate level of collateralization for traditional loans;
--these lenders resold these loans which in turn were bundled as CDO's
--investment banks like Bear Stears (RIP) and Lehman Brothers (now bankrupt) purchased the CDO's as part of their portfolio;
-- credit market tightens for many reasons, including the demand for money due to the Iraq War
-- speculators drive up the price of commodities, which in turn force borrowers to default on loans and make credit market even worse;
-- foreclosures increase and property values fall, forcing lenders at all points of the credit spectrum to have fire sales to raise cash to cover obligations;
-- investment banks can't sell assets fast enough as they have the least amount of actual collateral;
-- the guarantors of mortgages (Fannie Mae, Freddie Mac) find themselves upside down when too many loans go bad;
-- the insurer of mortgages (AIG) can't sell assets fast enough to raise cash to cover obligations either;
-- and the U.S. Government has little remaining options in its arsenal save for nationalizing these failing entities since choosing not to do so would crash the market globally, and the rich guys that own Congress and the White House wouldn't like that at all.
And this all goes back to the propping up of the economy during Bush's first term, likely coincident with the market slide post-9/11
Who was in office? What party held the majority in Congress? Which party has benefited the most from this propped up economy?
Phil Gramm may have been nominally correct when he said the problem with the economy is all in our heads -- if more Americans were actually literate about the economy, they would realize that this week's frenzied nationalization was set in motion more than 6 years ago.
And it's got nothing to do with lipstick and everything to do with demanding better governance and a better grade of politician and more analysis on the part of the American people instead of shallow talking points on earmarks.
tactics. the republicans have bedcome incomprehensibly sleezy. they prostitute the very tenets of the democracy they so loudly blow their horns about. mccomb county republican party; shame! you spit on the spirit of fairness and brotherhood. how do you people sleep at night?