 |
About Us
Why the "bailout" failed (and should have)
It's a Mercury Retrograde period, as if you didn't know, so communications are even more screwed up than usual, which is saying something when you think about the lies we're being told every day by what now passed for the mainstream press - have they no shame? No matter which candidate for president you support, it is obvious that many if not most of the journalists who you can see, hear, or read are active partisans for one candidate or another. We're not hearing the truth and thank God/dess for the blogosphere, that's where the wheat of truth is being separated from the chaff of spin.
But I'm allergic to wheat, gluten actually, so I have to be extra careful with what I read because it gets me so upset. Like the way they're blaming "The Republicans" for the defeat of the "bailout" when it simply is just not true; a whole bunch of Democrats - the five major committee chairmen and the chairs of a lot of sub-committees, plus Democrats who are vulnerable to defeat if they vote for this giveaway to the Wall Street Wolves, they were all "allowed" to vote "No!" Doesn't that make you mad?
I'm no fan of Karl Rove but he's no dummy and he's watched a vote or two in the House of Representatives before. He can read a vote like I read tarot cards or an astrology chart and listen to what he saw and you will have to agree that there's something stinking rotten about this and no, it was not the Republicans who shot the bailout down.
And if that doesn't get you mad, then maybe this will. If you read my previous blog you'll know that this crisis was enabled by the efforts to make home ownership affordable for people who couldn't, in reality, afford to own a home unless home prices kept rising, which started under President Clinton and threatened the banks with fines if they didn't lend to just about everyone. It was Fannie Mae and Freddie Mac's job to back up those loans, to buy them from the banks that originated them, and then these loans were bundled into million dollar units and sold again and used as income producing collateral for "mortgage backed securities," and these were further played around with by Wall Street, knowing Freddie Mac and Fannie Mae were there to bail them out if something went wrong.
So now we have Franklin Delano Raynes, an official of the Clinton administration who became head of Fannie Mae but had to resign and give back the millions of dollars that he stole! And this is the man who advises Obama on housing!! Obama should fire this guy and run away from the fact that he ever knew him; put him on the list with Reverend Wright and the rest. I don't care who becomes president - they're both sub-par by me - but this is outrageous stuff.
And finally, and you won't believe this but it is true, Barney Frank, the openly gay chairman of the House Financial Services Committee was actually "married" to Herb Moses, a Fannie Mae executive who helped rural areas join the everyone-gets-a-mortgage orgry. And Barney Frank fought any and all efforts to rein in Fannie Mae. But don't take my word for it, check out this article.
And the truth will make you free. Free means you don't pay and I don't think we should have to pay for the greedy failings of all of these crooks and liars. Can't our government make sure that it is them who pays and not us? What else do we need them for, if not to promote justice?
I'm not always a fan of Michael Moore but I think that he has a point when he says that the main reason people go bankrupt in this country and can't pay their mortgages is because of health care costs, so if there was universal health care then people wouldn't walk away from their mortgages because they'd have money to pay them. He, too, thinks that this bailout stinks and should not pass. So please, don't think that everyone who wants this bill to fail is a Republican or crazy. This is socialism for the rich while the people pay for capitalism's mistakes. I say throw the bums out, a pox on both their houses.
|
|
|
  |
|
 |
ShareThis
