The Timeline Project

various ^ | 30-SEP-2008 | George Smiley

[ForGod'sSake]

Freddie and Fannie compilation of history and facts (VANITY)

surfer compiled a pretty good case study of Fannie and Freddie's culpability in this whold mess, but it's not the complete story. I posted THIS LINK to that thread for some balance.

[ForGod'sSake]

Just adding this to the thread:

Anatomy of the Crisis

[magooey]

Maybe a website with economic commentary and a focus on the financial shenanigans would be useful. Suggestion - call it "Shyster Watch".

[ForGod'sSake]

Maybe a website with economic commentary and a focus on the financial shenanigans would be useful. Suggestion - call it "Shyster Watch".

Heh, now THAT would work for lawyers, but the money changers? I dunno, maybe "Shark Watch"??? I know, I know, gotta take a nap.

[Arthur Wildfire! March]

I feel compelled to return here. Two important links:

Obama, ACORN (Association of Community Organizations for Reform Now) and the current financial mess
http://www.freerepublic.com/focus/news/2098656/posts?page=1
[Links and youtubes by ETL]

Stocks sharply lower as global crisis persists (Dow under 10,000 1st time in nearly 4 years)
http://www.freerepublic.com/focus/f-news/2098644/posts

[Arthur Wildfire! March]

Rush shocked me with something I didn’t know.

Five Million Illegal Aliens get Fraudulent Loans?

Here’s what a google link yields:

http://www.google.com/search?hl=en&as_q=house+loans+bailout&as_epq=illegal+aliens&as_oq=%

22five+million%22+%225+million%

22&as_eq=&num=10&lr=&as_filetype=&ft=i&as_sitesearch=&as_qdr=all&as_rights=&as_occt=any&cr

=&as_nlo=&as_nhi=&safe=images

Near top of the list, Newsbusters:

headline: Calling the Old Media: Five Million Illegals Have Illegal Mortgages in U.S.A.!

http://newsbusters.org/blogs/warner-todd-huston/2008/10/09/calling-old-media-five-million

-illegals-have-illegal-mortgages-u

Here are some snippets:

” ... One illegal alien was arrested this year in Tucson after allegedly using a stolen social security number to buy two homes and rack up over $780,000 in bad debt. ...”

” ... It’s not known how many of those have contributed to the subprime housing mortgage

meltdown, but it has affected every state, including Arizona. ...”

One FR related link in which HUD denies the charge:
HUD cries foul over illegal immigrant mortgage data
http://www.freerepublic.com/focus/f-news/2101844/posts

Oldexpat posted: Whether it is 1m or 5m is irrelevant. No bank should have been giving mortgages to someone who could be deported any day. Makes no sense. All I know is we have a friend foreclosing on almost one house a day in Orange Co. CA.

[Arthur Wildfire! March]

Urg ... fixing google link:

Here’s what a google link yields:

http://www.google.com/search?hl=en&as_q=house+loans+bailout&as_epq=illegal+aliens&as_oq=%22five+million22+225+million22&as_eq=&num=10&lr=&as_filetype=&ft=i&as_sitesearch=&as_qdr=all&as_rights=&as_occt=any&cr=&as_nlo=&as_nhi=&safe=images

[Arthur Wildfire! March]

Sketchy info but useful historically:

http://www.freerepublic.com/focus/news/2102284/posts?page=6#6

This past summer a $300 billion housing bailout was passed with a $500 million a year payment to ACORN. — icwhatudo

[Arthur Wildfire! March]

Adding another to your thread:

Monetary Madness
10-9-2008 | Toni Straka
http://www.freerepublic.com/focus/news/2103825/posts?page=2

[TenthAmendmentChampion]

Some really smart guy needs to make a web 2.0 website called timelines.com (or similar name) where you can use a provided timeline template and insert events to tell your story. Someone who’s good with Java or Ruby on Rails or something.

[TenthAmendmentChampion]

I find the timing of Spitzer’s “investigation” of AIG forcing Hank Greenberg out (and removing the main opponent of Credit Default Swaps) very suspicious.

2005 - Eliot Spitzer (the same idiot who had to resign later from the governorship of NY after he was caught with hookers) forced CEO Hank Greenberg out of AIG. Greenberg did not trust these instruments and stood firm in not allowing them on his books. Once he was gone, the Financial Products division went crazy selling CDSs and making billions.

AIG promised to guarantee banks in case they had above-average mortgage defaults. But the “insurance” policies they sold (CDS instruments) weren’t backed by anything because they were classified as assets and not covered by insurance regulations.

CDS fraud is apparently in the trillions of dollars because they were written into the accounts as assets. They let the brokerage houses lend even more money on high-return loans.

Here’s a good article about Joseph Cassano and his infamous credit swaps.

http://www.portfolio.com/news-markets/top-5/2008/09/28/AIGs-Derivatives-Run-Amok

[TenthAmendmentChampion]

Here's another chart I found:

Loss histories for subprime mortgages in their first year after issuance formed a predictable pattern between 2000 and 2005, but the loss history for subprime loans issued in 2006 broke the mold during the first eight months of 2007.

http://www.calvert.com/news_subprime_anatomy.html

[Arthur Wildfire! March]

Proven Failure of Obama Socialism [Bailout timeline]
http://www.freerepublic.com/focus/f-bloggers/2112941/posts

[Timeline Project still growing, FRiend.]

[Arthur Wildfire! March]

You know what’s important. We MUST win the economic meltdown debate. I’ll be devoting my tagline to one thread for the rest of the election:

http://www.freerepublic.com/focus/news/2115485/posts?page=9

Also linked to here from there.

[Arthur Wildfire! March]

Moved to here:

Obama-nomics & Greece [link-list vanity]
http://www.freerepublic.com/focus/chat/2464021/posts?page=38