Saturday September 27, 2008, 2:20 pm
At one time, Obama was the lawyer for ACORN. Over 60% of the forclosures are low interest, nothing down loans through ACORN and La Raza. There were socialistic loans that were bad from the beginning. Hundreds of thousands of those mortgages were to illegal aliens who have just left the homes behind and gone back to Mexico or relocated. Many of those have fictitious names on the deeds.

All of this is the fault of the Democrats. Obama received the second most contributions from Freddie Mac and Fannie Mae and from AIG, and the most contributions from ACORN and La Raza.

It tkaes only a few minutes on Google to find the information.

Saturday September 27, 2008, 2:40 pm
Good article. This was a controlled demolition,just like the 1929 stock market crash and subsequent Depression.

I believe many of the democrats are in cahoots with the republicans and key financial officials who brought on this catastrophe. People wonder why the democrats are allowing the republicans blank checks to do as they please with taxpayers dollars. The answer is that politicians like Pelosi are wolves in sheeps' clothing (democrats who are actually republicans) who are really puppets for Bush.

This is a game these politicians have been playing for years, and you really don't know where they stand until they get in office. Now that the democrats are the majority in the house, we will see many republicans shift their party. When the republicans get in office, same reversal. In other words, both parties are two sides of the same coin, which is why they are all pretty much crooks. I don't think all of them are corrupt, but the ones with the most pull obviously are.

This two-party system must be broken down, and a new governing system must be created that has a check and balance system for honesty and ethical behavior. Thank you, Ariel.

Saturday September 27, 2008, 2:57 pm
Thanks Ariel, great news posting. Noted.

Saturday September 27, 2008, 4:49 pm
The crisis explained

Joe goes to the track and bets $2 on a horse.

Two guys standing nearby get into a discussion and Fred says to Sam, “I’ll bet you $5 that Joe wins his bet.”

Next to them are Bill and Bob. Bill says: “I’ll bet you $10 that Fred welshes on his bet if he loses.”

Next to them is Sally. Sally says: “For $3 I’ll guarantee to Bill that if Bob fails to pay off, I’ll make good on the bet.”

Sally then goes to Mary and borrows the $7 needed in case she has to ever pay off and promises to pay back $8. She doesn’t expect to every have to pay since she believes Bob will always make good. So she expects to net $2 no matter what happens to Joe.

A quick calculation indicates that there is now 2+5+10+3+7 = $27 riding on the outcome of the horse race.

Question how much has been “invested” in the horse race?

Wait for it:

Answer:

$50,000 by the owner of the horse who is expecting to recoup his investment from the winnings of the horse and other future deals. Everyone else is gambling, not investing.

So, when Hank Paulson and his golfing buddies go to the track and lose the rent money playing the ponies, we should pay up?

http://www.correntewire.com/the_crisis_explained

That's perfect
and it’s not even an analogy - it’s exactly how derivitives and credit default swaps work, including none of the gamblers having any financial relationship to the underlying asset (the horse, or mortgages) in a lot of cases.

Saturday September 27, 2008, 4:50 pm
John McCain: Ha ha, google “bank collapse McCain” and you will find some fun results that old Walnuts had hoped were forgotten forever, because who remembers boring things like the Savings and Loan apocalypse or the Keating Five? Also, one of his sons just fled the board of a failed bank in Nevada!

Phil Gramm: Hateful old banking industry Texan crook was/is John McCain’s Economy Czar. He’s the one who called America a “nation of whiners” for being sad because of the New Depression. He also sponsored the deregulation that created the financial collapse. Gramm is also a vice-chairman at UBS, which is about to collapse, too.

"Phil Gramm? Wait, what did he do wrong?" Former Senator Phil Graham-- or as he was also known Senator Enron-- did so much wrong it boggles the mind. He pushed through the repeal of Glass-Steagall (banking regulations in place from 1932-1999). He pushed through energy deregulation, and an end to the prevention of oil speculation (which lead to oil speculation and Enron coming into CA and robbing us blind like Bonnie & Clyde). When he left the Senate, he went to work for the United Bank of Scotland as a lobbyist-- but before he left the Senate, he pushed AGAINST banking disclosure requirements that would have made it easier for us to track the money that funds terrorists against our Country.... what did Phil Graham do wrong? The better question since Phil Graham did SO MUCH wrong, is what did he not do wrong, if anything?

Saturday September 27, 2008, 4:51 pm
Politics in the Zeros: Spread the meme. Republicans are the party that wrecked America. John McCain’s long history with bank failures and financial scandals makes him uniquely ‘qualified’ to speak to the current crisis.

The next time a Republican friend says McCain is ready to Regulate the financial world... Refer them to ProgressiveAccounting.org
for a really long list of all the DEREGULATION McCain has supported over the past 26 years to get us into this mess.

Then suggest a vote for Obama.

Saturday September 27, 2008, 5:49 pm
Blue...YOU STRUCK AGAIN!!! Excellent information!! That gambling example should be on mainstream TV to help average citizens understand what these crooks have and are doing. I will be saving these links for reference.