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US Politics & Gov't  (tags: FBI, fraud, bailout, Wall Street, mortgages, Fannie Mae, Freddie Mac, AIG, Lehman Brothers )

- 3952 days ago -
Fannie, Freddie, AIG and the L Brothers are being investigated by the FBI for FRAUD...OK!


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RC deWinter (418)
Tuesday September 23, 2008, 6:17 pm it gets submitted,...well, it's still good news....LMAO

Eduardo L (101)
Tuesday September 23, 2008, 6:26 pm
I hope that will eventually turn into some better news. These CEO's and greedy executives who brought the financial market to collapse should pay back what they grabbed and be put in jail. Thanks Kate!

Blue Bunting (855)
Wednesday September 24, 2008, 12:20 am
Insofar as the economic crisis is concerned let us all be reminded that the fundamental flaw in all the "solutions" offered is that those solutions are offered to "fix" a problem that cannot be fixed. To understand this basic point, you require only three sentences from Mike Whitney's analysis. Here they are:

This cycle [in the market] will persist until the bad debts are accounted for and written off or until the exhausted dollar-system collapses altogether.


In truth, there is no fix for a deleveraging market any more than there is a fix for gravity. The belief that massive debts and insolvency can be erased by increasing liquidity just shows a fundamental misunderstanding of economics.

This is the truth that almost no one will accept.

Will Dmeocrats NEVER recognize when they're being "set up" by the RepubliCON crook$ AND LIAR$?

"I wonder how many times you have to be hit on the head before you find out who's hitting you? It's about time that the people of America realized what the Republicans have been doing to them," - Harry Truman.

Blue Bunting (855)
Wednesday September 24, 2008, 9:16 pm
Why did Paul$on'$ firm: Goldman $ach$ survive???

The Long and Short of It at Goldman Sachs

Goldman Sachs sold hundreds of Billions in subprime/CDO's and shorted them at the same time.

A new analysis by Goldman Sachs Group, Inc. finds that “Wall Street banks, brokerages and hedge funds may report $460 billion in credit losses from the collapse of the subprime mortgage market, or almost four times the amount already

The degradation of accounting The folly of fair value accounting, which helped to drive up executive bonuses based on illusory values, is increasingly exposed by the US financial crisis. Goldman Sachs now has "assets" for which no market exists valued at twice the firm's capital. That route leads to insolvency.


Leslie F (8)
Thursday September 25, 2008, 4:34 am
Hi All,

I'm against the $85,000,000,000.00 bailout of AIG. I'm also against the $700,000,000,000++ bailout being proposed in Congress right now!

Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend.

To make the math simple, let's assume there are 200,000,000 bonafide U.S. Citizens 18+.

Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up..

So divide 200 million adults 18+ into $85 billon -- that equals $425,000.00.

My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend.

Of course, it would NOT be tax free. So let's assume a tax rate of 30%. Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?
Pay off your mortgage – housing crisis solved.
Pay off credit card debt.
Repay college loans – what a great boost to new grads
Put away money for college – It'll be there for Junior.
Save in a bank – create money to loan to entrepreneurs.
Buy a new car – create jobs
Invest in the market – capital drives growth
Pay for your parent's medical insurance – health care improves
Enable Deadbeat Dads to come clean – or else

Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it...instead of trickling out a puny $1000.00 ( "vote buy" ) economic incentive that is being proposed by one of our candidates for President.

If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!

As for AIG – liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.

Here's my rationale. We deserve it and AIG doesn't.

Sure it's a crazy idea that can "never work."

But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC .

And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned
instantly in taxes to Uncle Sam.

Ahhh...I feel so much better getting that off my chest.


Gnar N (29)
Thursday September 25, 2008, 11:00 pm
Sounds good to me Leslie! Instead we are doing just the opposite! WE, that is, us and our future generations, get to bail out the criminals who created this mess!

Blue Bunting (855)
Thursday September 25, 2008, 11:05 pm
Is it any wonder why McCain doesn't want to debate?

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?

Maybe instead of posturing in front of TV screens telling people that
he's the change guy and hes going to fix washington.....

maybe McCain should stand before the American people and be accountable and
Apologize for causing the problems since he was the Chairman of the Commerce
committee when Gramm, his buddy, rammed through (with
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