Perp Street

The link below contains a purported list of the top 25 in Congress who got contributions from the folks at Fannie and Freddie. Obama is listed third, after Dodd and Kerry, even though Obama is just a junior Senator. Obama is followed next by Clinton. Barney Frank and Nancy Pelosi are on the list as well.

http://www.investors.com/editorial/IBDArticles.asp?artsec=16&artnum=1&issue=20080918

Then there is the Senate Banking Committee Chairman Christopher J. Dodd who allegedly got special mortgage deals from Countrywide, who gave preferential rates to 'friends' of company's chairman.

http://www.msnbc.msn.com/id/25140560/

For an interesting article purporting to detail the House Financial Services Committee Chairs long history with Fannie Mae, See http://www.businessandmedia.org/printer/2008/20080924145932.aspx

"House Financial Services Committee Chair promoted GSEs while former 'spouse' was Fannie Mae executive."

The link below describes how some in Congress tried to use the original version of the bailout bill to divert money eventually recovered to groups like ACORN, a group Obama has a long association with. See:

http://online.wsj.com/article/SB122247015469280723.html?mod=googlenews_wsj

And then there is House Speaker Nancy Pelosi, who allegedly has directed nearly $100,000 from her political action committee to her husband's real estate and investment firm.

http://www.washtimes.com/news/2008/oct/01/pelosis-pac-pays-bills-for-spouses-firm.

The Wall St. firms and institutions were no doubt reckless, but they were not the ones who ultimately set the stage that allowed the recklessness to occur in the first place. To blame them for creating the current debacle would be like blaming the foot soldiers in Iraq for creating that situation (assuming you consider Iraq a fiasco; not taking sides, just providing an example).

The top of the causality chain is government (Congress) and its Fascist Reserve and FMae / Mac. The interest rate and money supply manipulations by these organizations created the loose money environment enabling the economic implosion to gain traction in the first place.

Assertions about a "lack of controls" or accusations against the "free market" are stunningly shallow and anti-intellectual. The U.S. banking industry is among the most heavily government-controlled "industries" of all; it is the polar antithesis of a "free market."

Value can neither be defined nor added in an environment of coercion. Banking's government-centric lack of a market essence makes it literally a non-industry, in fact a Fascist environment, enabling legislated "value" to dominate against competitive choice-based factors that allow real valuations to manifest. Specific to the meltdown, competitive market factors would have established the cost of money at levels of risk averting the reckless behaviors in the first place.

Wall St. et al were facilitators and exascerbators of the problem, however the ultimate root-source culpability belongs squarely with government / Congress and the noted agencies it controls. Without the legislated actions of government creating artificially low interest rates in conjunction with its games of manipulating currency valuations via money supply tampering, the current mess could not have even begun its spiral.

When it comes to identifying root source culpability, people should quit focusing on the secondary contributors or effects, e.g. the "fat cats," lenders, CEOs, borrowers, etc. before root causes are identified. Consider moving emotions of envy and hatred out of the way IN ORDER to be honest IN ORDER to be neutrally objective IN ORDER to think logically IN ORDER to make intelligent assessments (about anything).

The link below contains a purported list of the top 25 in Congress who got contributions from the folks at Fannie and Freddie. Obama is listed third, after Dodd and Kerry, even though Obama is just a junior Senator. Obama is followed next by Clinton. Barney Frank and Nancy Pelosi are on the list as well.

http://www.investors.com/editorial/IBDArticles.asp?artsec=16&artnum=1&issue=20080918

For an interesting article purporting to detail the history of the House Financial Services Committee Chair's relationship with Fannie Mae, See

"House Financial Services Committee Chair promoted GSEs while former 'spouse' was Fannie Mae executive."

http://www.businessandmedia.org/printer/2008/20080924145932.aspx

Let's not forget that Warren Buffet, who is doing so much to bolster America's economy right now, is planning to vote for Barack Obama. Mr. Buffet says that Obama's economic plan is good for all Americans and has also said that John McCain's economic policies would further bankrupt our country.

If you vote for McCain, you are voting for more of the same pandering to corporations that ship jobs overseas, wreak havoc on the economy.

Vote for a strong economy that is regulated by fair principals. Vote for Obama.

Wow, you guys are great! Bravo! Let's hope the value of the dollar drops to .02 cents
It's heading that way. Time to buy yuan and move your companies out of the country.

We really don't want you here. Same with the senate, I guess money is better than job security.

With all of the super computer-driven mathematical models made by Wall Street, it baffles me that none of them predicted the melt-down. Or, maby they all did! Maby Fanny and Freddie were targeted for murder. Maby this is all a precursor to uprooting the Financial Empire from Wall Street and moving it to another climate. Say, Dallas, San Antonio, or Dubai.

Obama's dirtiest, darkest secret!:
http://larrysinclair.org/

Obama's dirtiest, darkest secret!:
http://larrysinclair.org/

A man of great wisdom:
http://www.atlah.org/broadcast/manningreport.html

Scapegoats? How about greedy swine? There are no scapegoats in the entire scenario. Those guys who lost the retirement and pension money of hundreds of thousands of hard working people by supposedly taking it to the edge, but not over, are as guilyty as common thieves. No golden parachutes, no plush CEO pay-offs -- tar and feather. Take every dime they think they have coming and repay all the people who lost thier financial security.

The link below contains a purported list of the top 25 in Congress who got contributions from the folks at Fannie and Freddie. Obama is listed third, after Dodd and Kerry, even though Obama is just a junior Senator. Obama is followed next by Clinton. Barney Frank and Nancy Pelosi are on the list as well.

http://www.investors.com/editorial/IBDArticles.asp?artsec=16&artnum=1&issue=20080918


" Democratic House Financial Services Committee Chair promoted GSEs while former 'spouse' was Fannie Mae executive."
http://www.businessandmedia.org/printer/2008/20080924145932.aspx

"Pelosi paid husband with PAC funds"
http://www.washtimes.com/news/2008/oct/01/pelosis-pac-pays-bills-for-spouses-firm/

Scapegoat indeed. Sounds more like a pre-trial alabi. And the hundred of thousands of people who lost a lot of thier retirement money due to the actions of these people who 'took it right up to the line" but supposedly not over it? They're what? Chump change? Nobody special? I'm all for tar and feather a few of these multi-million CEOs just to spread the word about what we, the public, think s okay. No pay-off, no bail out, tar and feather. Take every dime they have and reinvest it in our 401 and Keohgs that THEY lost money on...

Everyone is entitled to a criminal defense. It's a constitutional right. The media vigorously argue for First Amendment rights, but most of the Bill of Rights deals with rights of the accused! In other news: the House GOP was behaving fraudulently by opposing the bailout. You should see the concessions they are now demanding! http://dissentingjustice.blogspot.com/2008/10/was-gops-opposition-to-bailout-clever.html

So while the rest of us are burdened with crushing taxes to pay for the bailout, rising unemployment, and foreclosure on our houses, the perpetrators may go free, and the people who will ultimately reap the rewards are - lawyers!

Kind of like cockroaches - the only survivors of a nuclear holocaust.

Only in America.