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Sep 22, 2008, 0:10 GMT
Battle lines drawn over giant US finance rescue (Roundup)
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Older Talkback
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This was preventable.Sep 21st, 2008 - 01:59:13
John McCain predicted Fannie Mae and Freddie Mac crises, pushed 2005 legislation to prevent trouble:
The 'FEDERAL HOUSING ENTERPRISE REGULATORY REFORM ACT OF 2005' would have headed this off but it was killed in the Committee on Banking, Housing, and Urban Affairs by Chris Dodd who recieved the most money from Fannie Mae and Freddie Mac.
President Bush sought to rein in Fannie and Freddie in 2003.
The Democratic response to Bush in 2003:
“These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. “The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”
Representative Melvin L. Watt, Democrat of North Carolina, agreed.
“I don’t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,” Mr. Watt said.
and you are eyeball deep in your own fecal matter. go to hell, spammer.
Spammer, get off this site!
so true
that's what people don't get - both parties are in bed with the enemy
or what ever you want to call these greed heads
I guess evil would not be too inappropriate of a description at this point
'go to hell, spammer.'
Not exactly a rebuttal, now was that.
The beautiful no more. America is now dead. It must be divided into 45 independent countries.
Take good notice of following line,borrowed from Paulson in aboce article:
Treasury Secretary Henry Paulson signaled on Sunday the coming fight over the request, saying there were adequate measures in place to help struggling homeowners and that limits on executive salary as well as industry-wide regulations must wait
Very significant for the stance the ruling GOP is taking in the crisis:they bail out the bankers whose limitless greed has caused this crisis.The combined income of CEO's of the investment banks reached the staggering amount of 85 billion dollars ,now that is 8.000.000.000 dollars...for 2007 only .Which is more than 10 percent of the amount asked from the US taxpayer to solve the crisis caused by the greed of these men.isn't it an incredible scandal then that the Bush administration is boldly saying that these guys are not to be troubled for their deeds ?
And then there are a few simpletons from the GOP posting here that Obama is a crook because he got campaign contributions from Fanny May ?All candidates benefit from the financial sector;in fact the GOP more than the democrats as has been calculated .
Nevertheless the republican smear campaign is picking up more speed as the deadline of elections is approaching .Throwing more and more absurd accusations ,knowing very well how effective that is .Imagine for a second how your history books would have looked if your founding fathers had used this kind of tactics .It wouldn't look good in your history books .So perhaps time to develop a strong disapproval of all those that use these shameful tactics and elevate the debate by bringing forward real facts .Now let's hear some better arguments ,your future is at stake .Each and every one of you already has a debt of 35.000 dollars due to the catastrophic government of the last eight years.Your international reputation lies in shatters as well as your domestic economical markets .The only thing that has raised over the last 8 years is your military spending .Is any of that stuff useful to the average american household ?
'Very significant for the stance the ruling GOP '
This has to go to congress, which is 'ruled' by the democrats you stupid French monkey.
It doesn't really matter what steps are put in place - america is increasing debt at a relentless pace, the loans to cover it are being bought by China, Russia and Middle East countries and soon the US economy will be entirely in hock to these overseas holders.
The american tax payer will then pay increasingly large taxes to cover the interest on these debts as the whole country slides to oblivion as a footnote in history. Have a nice day (while you can)
Why should the US taxpayer be forced into taking on hundreds of billions of dollars of currently worthless debt????????
You should find this interesting:-
Of the $9.2Trillion in total Federal government debt outstanding at the end of CY 2007, approximately $5.1 Trillion was owed to the public (foreign and domestic) in the form of treasury bonds and T-bills. Of that $5.1 trillion, nearly half, $2.4 Trillion, was owed to foreign interests.
This means each man, woman and child owes $7,973 in federal debt to foreign interests. A family of 4 owes $31,893 in this regard - - 25% of the total is owed to Japanese interests, 20% to China
Thank you - I had overlooked the size of the Japanese holdings. However the situation remains as I stated - a large (oncreasingly so) proportion of the US economy is in the hands of overseas countries who will be collecting interest (ultimately from US taxpayers)
'the loans to cover it are being bought by China, Russia and Middle East countries'
Three foreign languages that English speaking people have difficulty learning. So, do I start learning Mandarin, Russian, or Arabic? I guess Hispanic is no longer as important. You can take over a country by buying them out, populating them out, or mass invading and killing them.
It is a tough world out there.
It's a beautiful world.
Here's a few reasons why I am a republicant-
The republicants just love to spend taxpayers money
on bridges to nowhere and earmark money to favorite corporations.
The republicants love the tax structure they created where approx.
75% of corporations pay no income tax as they make billions in income.
The republicants love to give golden parachutes to their executive buddies while the ordinary shareholder gets robbed.
The republicant Mclame talks of being a reformer, but he has all of GWB's pals around him as campaign advisors.
The republicants don't want any national health care plan.
The repubicants don't want any national transportation plan.
The republicants don't want any national energy plan.
The republicants love to outsource jobs overseas.
The republicants don't want any munincipal employee unions for police, firemen, or teachers, or any employees' unions of any kind.
The repubicants know how to wave big flags in a patriotic gesture.
The republicants don't want to get osama bin laden, so they do everthing they can to avoid going to look in the right places for the terrorist.
The republicants do know how to blame others for their problems, and not take respnsibity for anything.
These are just a few reasons why I am compelled to vote for republicants.
Can someone answer this question?Sep 22nd, 2008 - 11:29:48
Why should the US taxpayer be forced into taking on hundreds of billions of dollars of currently worthless debt????????
SP4 - To prevent a bank run, which would be worse.
This was preventable.Sep 21st, 2008 - 01:59:13
John McCain predicted Fannie Mae and Freddie Mac crises, pushed 2005 legislation to prevent trouble:
The 'FEDERAL HOUSING ENTERPRISE REGULATORY REFORM ACT OF 2005' would have headed this off but it was killed in the Committee on Banking, Housing, and Urban Affairs by Chris Dodd who recieved the most money from Fannie Mae and Freddie Mac.
President Bush sought to rein in Fannie and Freddie in 2003.
The Democratic response to Bush in 2003:
“These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. “The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”
Representative Melvin L. Watt, Democrat of North Carolina, agreed.
“I don’t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,” Mr. Watt said.
Inform Yourself Tonny.
'SP4 - To prevent a bank run, which would be worse.'
When mentally ill people run up huge debts, destroy their company, their lives, other people's lives, and injure their country then the only option is to not respond and to isolate them.
They have a gambling addiction and they need to hit rock bottom no matter what the consequences. The entire country can not be held hostage to mentally ill addicted people. Those type of people will get money any way they can: Fraud, stealing, lying, cheating, coercion, killing. They will do anything to feed their addiction.
The U.S. is held hostage by credit addicts.
The US IS a credit addict.
sp4
'The US IS a credit addict.'
Ergo, I am not part of the U.S., nor is any other responsible person.
SP4, on the other hand, is probably part of the U.S.
An unfortunate definition for The United States Of America. And an unfortunate legacy.
We've weathered two wworld wars, terrorist attacks, and the Great depression. This will just take time and money. Properly done, we could actually come out on it, but it'd take 20 years.
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