Thursday, November 20, 2008

Even the Communists Get It

From a Washington Post story dated November 21, 2008:

This week, China announced that it would shelve a plan to raise the minimum wage. A lower minimum wage would at least theoretically relieve stress on struggling companies, allowing them to keep more people employed overall.

"We have to first worry about whether workers have a job -- then worry about how much they're getting paid later," Hu said.

Check out the full story here.

Friday, October 31, 2008

Absolutely Couldn't Put it Better Myself

Wow. This is amazing. I've never seen it put this succinctly and clearly...

Wednesday, October 29, 2008

Timeline of a Housing Disaster

With thanks to whomever assembled all this information, and to Dave Peterson for passing it along to me:

  • Congress and President Clinton loosen Home Loan Requirements.[ed.]

  • Fannie Mae is a GSE (Govt. Sponsored Entity) regulated by CONGRESS.

  • Fannie Mae buys mortgages from other companies.

  • It is backed by the TAXPAYERS for all losses, but keeps all profits.

  • Banks begin making thousands of bad loans, zero down, no documentation, for 120% (1998-2008).

  • Executives at Fannie Mae receive huge bonuses if loan targets are met.

  • Franklin Raines & Jamie Garelick from the Clinton Administration are appointed to run Fannie Mae.

  • President Bush proposes a new oversight committee to clean-up Fannie Mae, Congress derails the effort.

    (Rep. Melvyn Watt {D-NC} Committee on Financial Institutions & Consumer Credit, stated, "I don't see much other than weakening the bargaining power poorer families to get affordable housing.")

  • Raines receives $100 million in bonuses.

  • Garelick receives $75 million in bonuses.

  • In 2004, ENRON collapses, Congress investigates, Executives Skilling & Lay go to jail, for fraudulent bookkeeping. Congress responds with the Sorbanes-Oxley Act, more heavy regulation of Corporations.

  • An OMB investigation finds massive fraudulent bookkeeping at Fannie Mae.

  • False numbers triggered executive bonuses every year.

  • Congress held NO hearings, NO ONE goes to jail, or is punished.

  • WHY NOT?

1999 - 2005
  • Fannie Mae gives millions to Democratic causes, examples: Jessie Jackson & ACORN!

  • Fannie Mae pays millions to 354 Congressmen and Senators from both Parties. Who got the most money?
    1. Sen. Christopher Dodd, {D-CT} Chairman Banking, Housing, & Urban Affairs Committee.

    2. Sen. Barack Obama {D-IL} Federal Financial Management Committee.

    3. Sen. Chuck Schumer {D-NY} Chairman Finance Committee.

    4. Rep. Barney Frank {D-MA} Chairman House Financial Services Committee.

  • Franklin Raines & Top Execs are forced to resign from Fannie Mae.

  • They do not go to Jail.

  • There is NO Media "perp. walk."

  • They keep their bonuses.

  • They finally pay $31.4 million in Civil Fines.

  • The Federal Housing Enterprise Regulatory Reform Act is sponsored by: Sen. John McCain {R-AZ} Armed Services, Commerce, Science, and Transportation.
    1. Senator McCain is 325th on the Fannie Mae Pay List.

    2. He stated, "If Congress does not act, American Taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole."

  • None of the top Four on the Fannie Mae Pay List supported the legislation.

  • The Reform Act is blocked by Democrats, never even making it out of the committee.

  • None of the Politicians on the Fannie Mae Pay List return any of the money, tainted by Fraud.

  • Fannie Mae & Freddie Mac go bankrupt and the Govt. Takes them over COMPLETELY.

  • Lehman Brothers, goes bankrupt from investing in bad mortgages.

  • AIG gets 85 million in Loan Guarantees, after insuring bad Loans and Projects.

  • Taxpayers will ultimately pay BILLIONS.

  • Franklin Raines is now an advisor to the "OBAMA CAMPAIGN" which wants the govt. to take over more of the economy.

  • Did Government involvement in the mortgage market work out?

  • How will even MORE government involvement make things better? Do you want to be Sweden?

  • McCain favors revising regulations and loan standards and selling off Fannie and Freddie.

  • New York Times, 9/13/2003.

  • Congressional Record, 5/25/2006.

  • Herald Tribune, 4/18/2008.

  • Hannity & Colmes, Fox News, 9/16-9/17/2008.

  • 9/17/2008. Prof. Dennis Jantz, 2008

Thursday, October 02, 2008

Want To Know What Caused the Financial Crisis?

The answer to what and who caused the current financial crisis is clear to see, and well recorded on CSPAN and news video over the past 15 years: Democrats. Christopher Dodd, Barney Frank, Chuck Schumer, and, yes, Barack Obama. Don't believe me? See for yourself:

Time and time again, Republicans, including George W. Bush and John McCain attempted to gain some sort of control over the reckless behavior at Fannie Mae and Freddie Mac, and they were blocked every time by the Democrats.

Thursday, May 22, 2008


Just an agreement to drill there would immediately lower oil prices, because a large new supply would be on its way. There is NO reasonable objection to opening ANWR and the continental shelf to drilling.

Those who oppose more domestic drilling are putting their idiosyncrasies above the interests of the American people, and they need to wake up.

Thursday, April 03, 2008

Ethanol is Destroying Our Economy

What have we done?

Ethanol as a fuel source is less efficient, more expensive, worse for the environment, and completely incapable of resolving our energy needs. Why are we subsidizing its production and mandating its use? The price of corn has doubled over the last several years, and the cost of wheat has tripled. This is directly related to the diversion of American grain yields to the production of Ethanol, rather than contributing to our food supply. The price increases have spread into most of our foodstuffs, yielding significant inflation increases that are exacerbating the already inflationary pressures of high oil prices. What's worse, the Ethanol being produced isn't even close to enough to have any effect whatsoever on the demand for petroleum-based fuels. Its a double whammy: instead of only having to suffer through high oil prices, the U.S. economy is struggling to deal with high oil prices AND ever increasing food prices with no end in sight.

Don't just take my word for it. Check out the facts here, here, and here.

Please contact your representatives in Congress and demand that all subsidies and mandates for Ethanol be eliminated immediately, for the good of the nation. If you want to make a statement while driving, check out this bumper sticker I've put together.