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If we’re headed for another Great Depression, what is Boy Wonder doing creating all these expensive government programs. ie: “Free healthcare” for the entire world paid for by the American taxpayers. Something stinks here.
“More than 9 trillion — in taxpayer dollars — has been pledged,...”
You can't spend your way to prosperity Senator, and if you find yourself in a hole, stop digging.
At the moment, we need to forget about the cause and find
a remedy for this economic hemorrhage. When we pull out of this
then we'll figure out who's to blame.
mccain’s a loser.
It’s Bush’s fault. He was President when things started to go bad. Good thing we have Change, and Hope.
/s
Pssst... Senators; over here. Talk radio, and conservatives have investigated it. We can't tell you who is responsible, but their initials are D E M O C R A T S.
Congressional Democrats Bankrupted the Nation
For a real hoot you may wish to study the FR thread of the same article.
Now he wants to name-names?
.
The Givernment throws a wrench into the market and then looks to blame those who take advantage of their participation and 'guarantees'. Screw them. Can't have it both ways.
Two words for those who haven't even the experience of running a hot-dog stand: get lost. Profit is the only incentive needed or worthy of a free society. Anything else can be fudged. Fudgy Givernment.
The Soviets couldn't do it, neither can you. Go do what you do best: waste the treasure handed to you by those who actually 'produce' something tangible on a silver platter, while at the point of a gun.
The next four years will witness incompetents running businesses into the ground. F**k else is new? Until Givernment gets back to it's role as limited Government, we'll witness burdens, F-ups, and fluctuations like we see today.
Get a clue, buy a clue, or just stop voting for stooges (dependably democrat, but we've got our share of floozies). Freedom is actually very cheap- it's all the crap necessary to keep it from flowering that breaks the bank. Beware, the bureaucrat who insists on spending more of your money to fund greater Givernment.
I don’t want to know what McRINO thinks about anything. He’s a lying little weasel.
Yet no one has investigated how this crisis happened
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It should be:
No one has investigated who is guilty of this crisis.
These guys are so predictable. They'll grandstand and find fault with wall street greed and lax regulation and point fingers in every direction except where they belong - pointed at themselves.
Government intervention into the free market caused this mess, and fixing THAT is the only thing that will keep it from happening again. But of course, this would require disempowering the politicians, so it ain't gonna happen until we get rid of McCain and the rest of the big government crowd.
FALSE SIGNATURES AIDED FANNIE MAE BONUSES, FALCON SAYS
By Kathleen Day and Terence O'Hara
Washington Post Staff Writers
April 7, 2005
Fannie Mae employees falsified signatures on accounting transactions that helped the company meet earnings targets for 1998, a “manipulation” that triggered multimillion-dollar bonuses for top executives, a federal regulator said yesterday.
Armando Falcon Jr., director of the Office of Federal Housing Enterprise Oversight, said the entries were related to the movement of $200 million in expenses from 1998 to later periods. The result of the changes was an increase in Fannie Mae's 1998 earnings per share and the release of a $27.1 million bonus pool for senior executives.
Fannie Mae reported paying the following executive bonuses in 1998: chairman and chief executive James A. Johnson received $1.932 million; Franklin D. Raines, chairman-designate, received $1.11 million; Chief Operating Officer Lawrence M. Small received $1.108 million; Vice Chairman Jamie S. Gorelick received $779,625; Chief Financial Officer J. Timothy Howard received $493,750; and Robert J. Levin, an executive vice president, received $493,750.
(scroll down on link)
http://www.washingtonpost.com/wp-dyn/articles/A32845-2005Apr6.html
Gorelick left Fannie Mae after four years with $26 million. Raines left with $50 million.
From 7-16-08 WASHPOST:
[. . .Raines settled charges brought by the Office of Federal Housing Enterprise Oversight by agreeing this spring to pay $2 million and forfeiting $22.7 million in stock and other benefits. And though none of it will come out of his pocket — the payment was covered by insurance — he has not emerged unscathed. He and his wife of more than 25 years, Wendy, are separated. . .]
http://www.washingtonpost.com/wp-dyn/content/article/2008/07/15/AR2008071502827.html
McCain is well known for his propensity to gamble big money at the craps tables in casinos, especially Indian casinos. McCain's lobbyist goons made a killing from fees derived from Indian casinos for representing them against Abramoff by gaining access to McCain. McCain withheld evidence in testimony that would have implicated several members in Congress in the scandal, instead, he went after Abramoff specifically for his close ties to Grover Norquist and Ralph Reed who had cost him the South Carolina primary (and nomination) in 2000.
While much remains to be uncovered, we know that this crisis was triggered in part by unscrupulous behavior in the subprime loan market, the failure of key regulators, widespread greed and the fact that America's largest financial institutions were permitted to regulate themselves.
This is an unadulterated effort to provide political cover for McCain's fellow rats in congress who were up to their eyeballs in pushing the sub-prime loan scam along for gaining voting block power. That includes some of his own campaign staff starting with his campaign manager, Rick Davis, who made MILLIONS from lobbying fees working in concert with Fannie Mae to push sub-prime mortgages to high risk income groups such as illegals.
This is quintessential McCain. He builds the scene in his role as the righteous grand inquisitor who will uncover the truth, when in fact he's as caught up in it as anyone else is in the halls of congress. It's the ultimate craps game for him.
What caused this? A government induced credit bubble.
Get busy John and figure out how the government needs to punish business.
Love those jobs but hate on those creating them.
