The New Fixers

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  • Posted By: hpb33 @ 10/05/2008 7:21:27 PM

    From One, Destroyed by Many...

  • Posted By: expatincebu @ 10/05/2008 5:56:24 PM

    J.P. Morgan was a crook and a fascist. He engineered the 1907 crash and the Great Depression and profited heavily from both. JP Morgan is one of the powers behind the current fiasco as well, and they are profiting again. Big surprise.

  • Posted By: C. MacLean @ 10/05/2008 1:42:48 PM

    How interesting the author would use a Russian word to describe the supposed saviors of capitalistic America.

    It is truly the dawning of a new age when Russia is experimenting with capitalism, and America is experimenting with socialism. Both John Locke and Karl Marx must be rolling in their respective graves.

    And one can only wonder at what J.P. Morgan, a man who certainly supped with the devil, would do if he were here in 2008, instead of 1907.

  • Posted By: olderwiser @ 10/05/2008 10:55:23 AM

    Sarah Palin will fix the economy. She will lend us the trillions of billions of barrels and cubic feet of her oil and gas and not charge interest. She will out produce all the rest of the world and make us solvent and energy dependent at the same time. She is rich and she makes up for the ugliness and grouchiness of Mc Cain. A perfect pair.

  • Posted By: Nowforthetruth @ 10/05/2008 2:15:02 AM

    Obama is getting a bump out of this because people are not being reminded of the whole history where the economy is concerned, and who did what when. Call it bias by omission. The media simply says that the economy is Obamas strong issue, but never discusses the facts in detail. Further, who had a majority when is rarely relevant. If the simplistic Party In Power model were true, then the Democrats would not have needed the House Republicans when they tried to pass the bailout bill, as Democrats have the majority in both houses and there is no threat of a veto. In theory, they do not need the Republicans to vote at all. In fact, something like twelve (12) Democrats from Barney Franks own banking committee voted against the bill. Obviously, it is not so simple and the media does the voter a disservice by doing little more than reinforcing the error. A similar argument would be to say that the economy appeared to be doing fine until the Democrats took over control of Congress and the power of the purse, then it tanked. As an aside, the media also misleads regarding the Clinton economy when they fail to mention that it also ended in a recession, requiring the first round of Bush stimulus checks immediately after he took office..

    Do Obama and the Democrats deserve a lift in the polls as a result of the financial and mortgage problems? The answer from history is a clear NO. Here's the lead of a New York Times story on September 30, 1999: Fannie Mae Eases Credit To Aid Mortgage Lending [link below]. That's 1999 folks. Clinton Administration, I believe.

    Here's the lead of a New York Times story on Sept. 11, 2003: The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago. [see link below]

    McCain said in co-sponsoring the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190: 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.

    What was Barney Frank and fellow Democrats saying at the time of these attempted reforms? According to reports, Representative Barney Frank(D-MA) claimed of the thrifts "These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis, 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 Mel Watt (D-NC) added of the reforms "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." [ See Community Reinvestment Act, link below w/ history]

  • Posted By: Nowforthetruth @ 10/05/2008 2:14:43 AM

    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 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 last 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. See:

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

    http://en.wikipedia.org/wiki/Community_Reinvestment_Act

    http://article.nationalreview.com/print/?q=M2QwNDhkZTg2OGYzZjkzM2E2NDEwM2U5OGVkNTc0YzU=

    http://query.nytimes.com/gst/fullpage.html?res=9E06E3D6123BF932A2575AC0A9659C8B63

    http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260

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

    http://online.wsj.com/article/SB122247015469280723.html?mod=googlenews_wsj
    http://www.investors.com/editorial/IBDArticles.asp?artsec=16&artnum=1&issue=20080926

  • Posted By: Nins @ 10/04/2008 11:06:29 PM



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

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

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

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