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1. #1
   On October 1st, 2008 at 6:46 am, zorro said:

   Good stuff Michelle. The light of day is beginning to shine on this manufactured crisis.

2. #2
   On October 1st, 2008 at 6:49 am, Cameron said:

   There are only a few problems with this, zorro:

   1. The cockroaches have sunglasses.

   2. They complain that the person shining the light has an agenda.

   3. They insist that the person is being paid off by the lightbulb manufacturer.

   4. Everyone else prefers to believe the cockroach.

3. #3
   On October 1st, 2008 at 7:19 am, crashemt said:

   I have two simple steps that will help sell this new mortgage re-bailout to me:

   1) If you get bailed out, you lose all tax right-offs on housing. For the rest of your life. I would also consider taking other write-offs (children, retirement, spouse, etc.) until the balance of your bailout is paid back to the American people. This is the ONLY way to make it fair to those of us who both houses we could afford, who waited for values to drop, or who stayed out entirely because we knew we couldn’t afford to get in.

   2) Those that vote “yes” in the Congress will have 50% of their current wealth, at today’s value, placed in an escrow they cannot touch for 10 years. After that time, if we made money on this plan as they say we will, they or their rightful heirs will get back every penny they contributed. If we lose even one cent, all loses will be paid to the American people out of the Congressional voters escrow first. If money is left, then it will be distributed as a percentage of the contribution.

   Congress, we have no trust in you. 10%. Lowest rated Congress EVER!!! You want us to buy in, then put your money where your mouth is!

   Otherwise, we’ll see it as it is:
   A bailout of the corrupt funds given to you by the likes of Fannie, Freddie, and the rest of the Market.

   Everyone knows you took those kickbacks. Time will come when all of this comes to light. You might as well confess now, and take your lumps, before the American people remember where they put the tar and feathers.

4. #4
   On October 1st, 2008 at 7:59 am, maine yankee said:

   If DC could enforce it’s lousy gun laws for so long; why can’t they enforce a prostitution law. There’s at least 535 whores under one roof.

5. #5
   On October 1st, 2008 at 8:06 am, garyganu said:

   To prop up what has already proven to be a failure, will leave no room in the market for the necessary changes, improvements and growth to take place. Everything that the federal government is recommending with their 700 billion dollar bail-out program will exacerbate the financial difficulties that we find ourselves in today. A bailout will reward all of the players who have caused this economic downturn, including the politicians. The politicians encouraged the current downturn in financial markets with the Community Reinvestment Act, so called “Fair Lending Laws”, and other well intentioned but misguided programs. The government and community activist organizations, pressured banks to give mortgages to people who had no down payment and who could not afford to make the payments. Politicians did this in an effort to make home ownership possible for all Americans. Unfortunately, in the booming economy of the 90’s, the reasons why many people could not afford their own homes was usually due to lack of income, lack of discipline or lack of a sound economic plan. Either way, the Community Reinvestment Act did not address these concerns and was doomed for failure from it’s very inception. However, banks were encouraged to make these loans that were not likely to be paid back. The government offered banks incentives for lending to poor people and minorities that could not afford to buy a home. The banks were protected against loss because quasi government corporations were chartered that would buy these loans from private banks. These government chartered corporations were called Fannie May and Freddie Mac. It was understood from the start that the government would not allow these institutions to fail. This made the entire mortgage industry ripe for corruption, because the risk was taken out of the free market. “Risk vs. reward” is the foundation of our capitalist system. When government removed the risk by having Fannie May and Freddie Mac buy up theses risky mortgages, providing bail-outs and not allowing certain critical businesses to fail, the entire economic system became corrupted. This is where we stand now.

   Bailouts Vs. the Old Fashioned Way

6. #6
   On October 1st, 2008 at 8:11 am, NJ-Aviator said:

   Therein lies the problem.

   Has ANYONE on Capitol Hill said this sort of extortion has to stop?

   Has ANYONE on Capital Hill said they will change the rules so as not to force banks to grant a mortgage to unqualified people?

   If they don’t fix this problem, they could inject $700 TRILLION and it wouldn’t fix the problem with the economy.

   It’s sheer madness that these political HACKS won’t address this.

7. #7
   On October 1st, 2008 at 9:41 am, pueblo1032 said:

   I see nothing here but your everyday, old fashioned PC… TERRORISTS will not be the downfall of the BIGGEST DEMOCRACY in the world… POLITICAL CORRECTNESS will…

8. #8
   On October 1st, 2008 at 9:50 am, Weary Citizen said:

   On October 1st, 2008 at 9:41 am, pueblo1032 said:

   Amen to that!!! PC is the root of 90% of our deficit spending, social ills, and victim mentality gripping this nation. PC worshiping demands one to suspend all logic and common sense.

9. #9
   On October 1st, 2008 at 9:52 am, Mister P said:

   Time for low cost housing in Hyde Park.

10. #10
    On October 1st, 2008 at 10:02 am, USpace said:

    .
    Great micro-look at this. I wonder how many ‘Greenlining Institutes’ are out there, and how many’ trillions $$ did they extort in total.

    It’s a shame politicians and the racial grievance industry forced banks starting back in the 80s to give home mortgages to poor people who weren’t credit worthy enough. Then, they just started lending mortgages way beyond many people’s credit abilities. That’s where all this mess started. And also that they didn’t regulate Fannie Mae and Freddie Mac like they do other banks.

    Alan Greenspan should be exposed for the problems he helped cause by allowing credit quality to be ignored.
    Scary, will sanity ever prevail?
    .
    if money were free
    it would have no value
    - extreme inflation

    .
    ignore credit scores
    give everyone homes
    - like musical chairs

    to deny a mortgage
    must be due to racism

    .
    absurd thought -
    God of the Universe says
    forgive all debts

    settle all accounts
    no one owes anything

    .
    absurd thought -
    God of the Universe says
    make housing costs look cheap

    go paint a rosy picture
    just get people to sign up

    .
    All real freedom starts with freedom of speech. Without freedom of speech there can be no real freedom.
    .
    Philosophy of Liberty Cartoon
    .
    Help Halt Terrorism Today!
    .
    USpace

    
    .

11. #11
    On October 1st, 2008 at 10:07 am, cheapseat said:

    we’re all racists. how dare we think that we should call crooks crooks when they are really just misinformed, misguided, undereducated, illiterate victims of the oppressive white devils. in the immortal words of a 2nd generation race baiting congressman from the hood in st louis, lacy clay, this report that fannie and freddie are going to cause a calamity, “is just political LYNCHING OF FRANK RAINES.” his father, congressman bill clay had the distinction of serving nearly 30 years and never sponsoring a bill, and his son seems destined to beat his record. yes missouri not only elects deadbeats to office, it elected a dead guy to be senator. all in the name of political correctness.

12. #12
    On October 1st, 2008 at 10:49 am, RogerCfromSD said:

    Why is there a presumption that the Democrats will sweep the Congress this election, given their incredibly low approval rating?

    This should be a Republican campaigning point: the Dem-controlled Congress is an absolute joke.

13. #13
    On October 1st, 2008 at 11:08 am, sambo said:

    Michelle, can you summarize articles that you link to? Some of us are behind firewalls…
    thanks for all that you do!

14. #14
    On October 1st, 2008 at 11:29 am, ArizonaNeanderthal said:

    If nothing else Zorro you can step on that damn cockroach. Wipe your feet before going into the house.

    4. Everyone else prefers to believe the cockroach.

    At least enough of us don’t to keep their damn e-mail and phone lines tied up. Bloody their noses.

15. #15
    On October 1st, 2008 at 11:47 am, Southpaw said:

    A lot has been about the financial mess regarding shakedown organizations in places like Berkeley. Not so much has been said about the Gordon Gekko ethos that still seems to be alive and well in places like New Haven, Cambridge, Princeton, Palo Alto, etc.

    What are the the business school leaders in this country teaching their future captains of industry? Complex derivatives that no one can figure out, corporate raids and golden parachutes, mathematical financial models that fail miserably. The deans of the Harvard and Yale Business Schools, and various “secret societies” are just as culpable as some storefront operation in Berkeley.

    In the 2004 U.S. Presidential election, both the Democratic and Republican nominees were alumni. George W. Bush writes in his autobiography, “[In my] senior year I joined Skull and Bones, a secret society; so secret, I can’t say anything more.”[3] When asked what it meant that he and Bush were both Bonesmen, former Presidential candidate John Kerry said, “Not much because it’s a secret.”

16. #16
    On October 1st, 2008 at 1:36 pm, ArizonaNeanderthal said:

    Not so much has been said about the Gordon Gekko ethos that still seems to be alive and well in places like New Haven, Cambridge, Princeton, Palo Alto, etc.

    Well that is Michael Douglas’ take on it. Of course he made several millions of dollars slamming greed.
    Making a buck, making a lot of bucks, isn’t the problem.We take chances, work hard and sometimes we do well and sometimes we lose. I have done both-repeatedly.
    Steal and you are a thief; beg for a bailout and you are little better-a Welfare Queen at best. I’ll take Gordon Gekko over Michael Douglas, Charlie Sheen or his rich, self-righteous, left-wing father Martin Sheen any day.

    Except for that going to jail part-that was bad. But who has created more jobs, more worth and wealth: Silicon Valley or Hollywood? An “overpaid” truck driver or a community organizer?

    The answer is our view on right and wrong, property rights and view of government’s role in our lives. That is something we learn many years before school starts. Even a damn Coconut knows that.

    A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.
    —-

    “I ask, sir, what is the militia? It is the whole people, except for a few public officials.” -George Mason, 3 Elliot, Debates at 425-426.

17. #17
    On October 1st, 2008 at 4:11 pm, RabbidSquirrel said:

    On October 1st, 2008 at 7:59 am, maine yankee said:

    There’s at least 535 whores under one roof.

    Whoa! Whoa! Whoa! Easy up there a little bit….

    With all due respect, those ladies are the backbone of this great American Society. These are Independant Contractors with solid credit backgrounds and no personal tax liabilites, who are only trying to stimulate the local economy on an individual case-by-case basis.

    This is community-based interaction, implemented hands-on, in its pure raw naked form.