Sunday, September 7, 2008

Palin;two views

From my email, you know the forwarded stuff that the sender tries to make it look spontaneous but its really orchestrate strategy to sway you opinion.
http://goodmorningflint.blogspot.com/2008/09/pailntwo-views.html

Recently I received two. I ask here what if the following is true.

A pro Palin family member sent me #1.[1]

We just got this forward from our former pastor from MS...a friend sent it to him. And I'm sending it on to you folks.
.................................
Hi,
I have a good friend from Boulder who now lives in Wasilla, AK (sound familiar?). Jeff was in a Tuesday morning Bible study here in the Boulder area. He was formally a bull rider and now a United pilot (not connection I trust) flying out of AK. I wrote him for what he might know about the RNC’s new VP pick from Wasilla. I think you will value this information. Feel free to pass it on..[1]
......................
Good to hear from you!
Sat in front of Sara and Todd a church two weeks ago. That day we dedicated their new Baby, just the way you would have liked it. They are solid, sold out for the Lord , Bible thumpers like you and me..[1]

Cheryl and I have voted for Sara three times already. This Will be the 4th. We first met them when Cheryl and I were asked to host a table at an Interact Ministries conference (missionaries to the northern countries ie:Alaska Canada and I believe parts of Russia)..[1]

Sara and Todd sat next to us there and we got to know them a bit there. .[1]

Their children of which they are Both great parents are involved in our youth ministries. I can hardly picture Todd without him having one of his kids hanging on him or in his arms - he is a very involved and Loving father. And yet (this is comming from a 20 year Bull rider) he is one of the toughest guys I know. A four (4) time champion of the 'Iron Dog' you've heard of the Iditarod dog sled race,Wasilla to Nome, more than 1200 miles - this race follows the same trail on snow-machines average speed 100 mph! parts of it over open ocean. that's right OPEN ocean. that's why they keep the speed up..[1]

Sara: Integrity is the best word. doing the right thing when no one is looking. Has taken pay cuts instead of the offered raises. Has Cleaned house in the state, you will read about that. Believes in Pro life, In Jesus Christ as Lord and savior, Thinks we should give equal time to creationism in public schools. is skeptical about global warming, and know we can and should drill in ANWAR without environmental hazards..[1]

I have not been encouraged about John McCain until now. He has proven to have very sound judgement..[1]

Your friend J
.........................
Subject: Wasilla in the news
Hi
How about your former mayor? Know her? Like her? Believe in her leadership?
The second one was from Jack Minore a political professional democrat. He feigned a casual manner when he sent this.#2 [2]

I often take these kind of things "with a grain of salt" and (unless they're jokes) don't usually pass them on. This one has a ring of truth, at least, since it is signed and the individual who originally wrote it is identified and has included an e-mail address. [2]

That it was published -- albeit in a less than well-known paper -- seems to add to its credibility. And, many of the items included in this "letter" have been reported and (apparently) confirmed by the mainstream press. [2]

Finally: informed local citizens often have insights that the press may overlook -- or simply not possess. The writer, Anne Kilkenny, seems to have been involved with Palin and her public life (to some minimal extent, her private life, too -- as a neighbor and fellow citizen of a small town) for many years so may possess those insights -- and certainly seems to. [2]

Finally: I confess that Palin "scares me". She has grabbed the spotlight and, seemingly, the public heartstrings. As a Democrat, I certainly do no want to see McCain elected -- and Palin being a heartbeat away from the presidency is - for me, at least - VERY ALARMING! Add to that the fact recently put forward that a man of 73 has only a 1 in 3 chance of living to the age of 80 -- the end of two presidential terms. [2]

Take it for what it's worth, but please take the time to read this.
Jack Minore
http://www.blogger.com/mc/compose?to=jacksonmin@aol.com
About Sarah Palin from a resident of Wasilla, AK whohas known her since 1992by Anne KilkennyThe Washington Independent - August 31, 2008http://www.washingtonindependent.com/3671/the-reform-candidate<http://www.washingtonindependent.com/3671/the-reform-candidate&g t;

A note to all by Anne KilkennyDear friends,[2]

So many people have asked me about what I know aboutSarah Palin in the last 2 days that I decided to writesomething up . . .[2]

Basically, Sarah Palin and Hillary Clinton have only 2things in common: their gender and their good looks. :)[2]

You have my permission to forward this to yourfriends/email contacts with my name and email addressattached, but please do not post it on any websites, asthere are too many kooks out there . [2]

[This was already posted on Washington Independentcomments area, with a controllable ho tmail account, andwas obviously meant by the author to be read.][2]

Thanks,Anne==========

ABOUT SARAH PALINI am a resident of Wasilla, Alaska. I have known Sarahsince 1992. Everyone here knows Sarah, so it is nothingspecial to say we are on a first-name basis. Ourchildren have attended the same schools. Her father wasmy child's favorite substitute teacher. I also am on afirst name basis with her parents and mother-in-law. Iattended more City Council meetings during heradministration than about 99% of the residents of thecity.[2]

She is enormously popular; in every way she's like themost popular girl in middle school. Even men who thinkshe is a poor choice and won't vote for her can't quitsmiling when talking about her because she is a 'babe'.[2]

It is astonishing and almost scary how well she cankeep a secret. She kept her most recent pregnancy asecret from her children and parents for seven months.[2]

She is 'pro-life'. She recently gave birth to a Down'ssyndrome baby. There is no cover-up involved, here;Trig is her baby.[2]She is energetic and hardworking. She regularly workedout at the gym.[2]

Sh e is savvy. She doesn't take positions; she just'puts things out there' and if they prove to bepopular, then she takes credit.[2]

Her husband works a union job on the North Slope for BPand is a champion snowmobile racer. Todd Palin's kindof job is highly sought-after because of the scheduleand high pay. He arranges his work schedule so he canfish for salmon in Bristol Bay for a month or so insummer, but by no stretch of the imagination is fishingtheir major source of income. Nor has her life-styleever been anything like that of native Alaskans.[2]

Sarah and her whole family are avid hunters.[2]

She's smar t.Her experience is as mayor of a city with a populationof about 5,000 (at the time), and less than 2 years asgovernor of a state with about 670,000 residents.[2]During her mayoral administration most of the actualwork of running this small city was turned over to anadministrator. She had been pushed to hire thisadministrator by party power-brokers after she hadgotten herself into some trouble over precipitousfirings which had given rise to a recall campaign.[2]

Sarah campaigned in Wasilla as a 'fiscal conservative'.During her 6 years as Mayor, she increased generalgovernment expenditures by over 33% . During those same6 years the amount of taxes collected by the Cityincreased by 38%. This was during a period of lowinflation (1996-2002). She reduced progressive propertytaxes and increased a regressive sales tax which taxedeven food. The tax cuts that she promoted benefitedlarge corporate property owners way more than theybenefited residents.[2]

The huge increases in tax revenues during her mayoraladministration weren't enough to fund everything on herwish list though, borrowed money was needed, too. Sheinherited a city with zero debt, but left it withindebtedness of over $22 million. What did Mayor Pa linencourage the voters to borrow money for? Was it theinfrastructure that she said she supported? The sewagetreatment plant that the city lacked? or a new library?No. $1m for a park. $15m-plus for construction of amulti-use sports complex which she rushed through tobuild on a piece of property that the City didn't evenhave clear title to, that was still in litigation 7 yrslater--to the delight of the lawyers involved! Thesports complex itself is a nice addition to thecommunity but a huge money pit, not the profit-generator she claimed it would be. She also supportedbonds for $5.5m for road projects that could have beendone in 5-7 yrs without any borrowing.[2]

While Mayor, City Hall was extensively remodeled andher office redecorated more than once.[2]These are small numbers, but Wasilla is a very smallcity.[2]

As an oil producer, the high price of oil has created abudget surplus in Alaska. Rather than invest thissurplus in technology that will make us energyindependent and increase efficiency, as Governor sheproposed distribution of this surplus to everyindividual in the state.[2]

In this time of record state revenues and budgetsurpluses, she recommended that the state bo rrow/bondfor road projects, even while she proposed distributionof surplus state revenues: spend today's surplus,borrow for needs.[2]

She's not very tolerant of divergent opinions or opento outside ideas or compromise. As Mayor, she foughtideas that weren't generated by her or her staff. Ideasweren't evaluated on their merits, but on the basis ofwho proposed them.[2]

While Sarah was Mayor of Wasilla she tried to fire ourhighly respected City Librarian because the Librarianrefused to consider removing from the library somebooks that Sarah wanted removed. City residents ralliedto the defense of the City Librarian and againstPalin's attempt at out-and-out censorship, so Palinbacked down and withdrew her termination letter. Peoplewho fought her attempt to oust the Librarian are on herenemies list to this day.[2]

Sarah complained about the 'old boy's club' when shefirst ran for Mayor, so what did she bring Wasilla? Anew set of 'old boys'. Palin fired most of theexperienced staff she inherited. At the City and asGovernor she hired or elevated new, inexperienced,obscure people, creating a staff totally dependent onher for their jobs and eternally grateful and fiercelyloyal--loyal to the point of abusing their power tofurther her personal agenda, as she has acknowledgedhappened in the case of pressuring the State's top cop(see below).[2]

As Mayor, Sarah fired Wasilla's Police Chief because he'intimidated' her, she told the press. As Governor, herrecent firing of Alaska's top cop has the ring offamiliarity about it. He served at her pleasure and shehad every legal right to fire him, but it's prettyclear that an important factor in her decision to firehim was because he wouldn't fire her sister's ex-husband, a State Trooper. Under investigation for abuseof power, she has had to admit that more than 2 dozencontacts were made between her staff and family to theperson that she later fired, pressuring him to fire herex-brother-in- law. She tried to replace the man shefired with a man who she knew had been reprimanded forsexual harassment; when this caused a public furor, shewithdrew her support.[2]

She has bitten the hand of every person who extendedtheirs to her in help. The City Council person whopersonally escorted her around town introducing her tovoters when she first ran for Wasilla City Councilbecame one of her first targets when she was laterelected Mayor. She abruptly fired her loyal CityAdministrator; even people who didn't like the guy werestunned by this ruthlessness.[2]

Fear of retribution has kept all of these people fromsaying anything publicly about her.[2]

When then-Governor Murkowski was handing out politicalplums, Sarah got the best, Chair of the Alaska Oil andGas Conservation Commission: one of the few jobs not inJuneau and one of the best paid. She had no backgroundin oil & gas issues. Within months of scoring thisgreat job which paid $122,400/yr, she was complainingin the press about the high salary. I was told that shehated that job: the commute, the structured hours, thework. Sarah became aware that a member of thisCommission (who was also the State Chair of theRepublican Party) engaged in unethical behavior on thejob. In a gutsy move which some undoubtedly cautionedher could be political suicide, Sarah solved all herproblems in one fell swoop: got out of the job shehated and garnered gobs of media attention as thepatron saint of ethics and as a gutsy fighter againstthe 'old boys' club' when she dramatically quit,exposing this man's ethics violations (for which he wasfined).[2]

As Mayor, she had her hand stuck out as far as anyonefor pork from Senator Ted Stevens. Lately, she hascastigated his pork-barrel politics and publiclyhumiliated him. She only opposed the 'bridge tonowhere' after it became clear that it would be unwisenot to.[2]

As Governor, she gave the Legislature no direction andbudget guidelines, then made a big grandstand displayof line-item vetoing projects, calling them pork.Public outcry and further legislative action restoredmost of these projects--which had been vetoed simplybecause she was not aware of their importance-- butwith the unobservant she had gained a reputation as'anti-pork'.[2]

She is solidly Republican: no political maverick. TheState party leaders hate her because she has bit themin the back and humiliated them. Other members of theparty object to her self-description as a fiscalconservative.[2]

Around Wasilla there are people who went to high schoolwith Sarah. They call her 'Sarah Barracuda' because ofher unbridled ambition and predatory ruthlessness.Before she became so powerful, very ugly storiescirculated around town about shenanigans she pulled tobe made point guard on the high school basketball team.When Sarah's mother-in-law, a highly respected memberof the c ommunity and experienced manager, ran forMayor, Sarah refused to endorse her.[2]

As Governor, she stepped outside of the box and puttogether of package of legislation known as 'AGIA' thatforced the oil companies to march to the beat of herdrum.[2]Like most Alaskans, she favors drilling in the ArcticNational Wildlife Refuge. She has questioned if theloss of sea ice is linked to global warming. Shecampaigned 'as a private citizen' against a stateinitiative that would have either a) protected salmonstreams from pollution from mines, or b) tied up in thecourts all mining in the state (depending on who you listen to). She has pushed the State's lawsuit againstthe Dept. of the Interior's decision to list polarbears as threatened species.[2]

McCain is the oldest person to ever run for President;Sarah will be a heartbeat away from being President.[2]

There has to be literally millions of Americans who aremore knowledgeable and experienced than she.[2]

However, there's a lot of people who haveunderestimated her and are regretting it.[2]


CLAIM VS FACT

*'Hockey mom': true for a few years [2]

*'PTA mom': true years ago when her first-born was inelementary school, not since [2]

*'NRA supporter': absolutely true [2]

*social conservative: mixed. Opposes gay marriage, BUTvetoed a bill that would have denied benefits toemployees in same-sex relationships (said she did thisbecause it was unconstitutional)[2]

*pro-creationism: mixed. Supports it, BUT did nothingas Governor to promote it.[2]

*'Pro-life': mixed. Knowingly gave birth to a Down'ssyndrome baby BUT declined to call a speciallegislative session on some pro-life legislation [2]

*'Experienced': Some high schools have more studentsthan Wasilla has residents. Many cities have moreresidents than the state o f Alaska. No legislativeexperience other than City Council. Little hands-onsupervisory or managerial experience; needed help of acity administrator to run town of about 5,000.[2]

*political maverick: not at all [2]

*gutsy: absolutely![2]

*open & transparent: ??? Good at keeping secrets. Notgood at explaining actions.[2]

*has a developed philosophy of public policy: no [2]

*'a Greenie': no. Turned Wasilla into a wasteland ofbig box stores and disconnected parking lots. Is pro-drilling off-shore and in ANWR.[2]

*fiscal conservative: not by my definition![2]

*pro-infrastruct ure: No. Promoted a sports complex andpark in a city without a sewage treatment plant orstorm drainage system. Built streets to early 20thcentury standards.[2]

*pro-tax relief: Lowered taxes for businesses,increased tax burden on residents [2]

*pro-small government: No. Oversaw greatest expansionof city government in Wasilla's history.[2]

*pro-labor/pro- union. No. Just because her husbandworks union doesn't make her pro-labor. I have seennothing to support any claim that she is pro-labor/pro-union.[2]

WHY AM I WRITING THIS?First, I have long believed in the importance o f beingan informed voter. I am a voter registrar. For 10 yearsI put on student voting programs in the schools. If yougoogle my name (Anne Kilkenny + Alaska), you will findreferences to my participation in local government,education, and PTA/parent organizations.[2]

Secondly, I've always operated in the belief that 'Badthings happen when good people stay silent'. Few peopleknow as much as I do because few have gone to as manyCity Council meetings.[2]

Third, I am just a housewife. I don't have a job shecan bump me out of. I don't belong to any organizationthat she can hurt. But, I am no fool; she is immense lypopular here, and it is likely that this will cost mesomehow in the future: that's life.[2]

Fourth, she has hated me since back in 1996, when I wasone of the 100 or so people who rallied to support theCity Librarian against Sarah's attempt at censorship.[2]

Fifth, I looked around and realized that everybody elsewas afraid to say anything because they were somehowvulnerable.[2]

CAVEATSI am not a statistician. I developed the numbers forthe increase in spending & taxation 2 years ago (whenPalin was running for Governor) from informationsupplied to me by the Finance Director of the City ofWasilla, and I can't recall exactly what I adjustedfor: did I adjust for inflation? for populationincreases? Right now, it is impossible for a privateperson to get any info out of City Hall--they areswamped. So I can't verify my numbers.[2]


You may have noticed that there are various numberscirculating for the population of Wasilla, ranging frommy 'about 5,000', up to 9,000. The day Palin'sselection was announced a city official told me thatthe current population is about 7,000. The official2000 census count was 5,460. I have used about 5,000because Palin was Mayor from 1996 to 2002 , and the citywas growing rapidly in the mid-90's.[2]

Anne Kilkennyannekilkenny@ hotmail.comAugust 31, 2008
Jack Minore610 Commonwealth AveFlint, MI 48503810 - 235-1490jacksonmin@aol.com

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Saturday, September 6, 2008

Fanny and Freddie collapse, McCain knew and was speechless...

OPEN LETTER TO THE SMALL TOWNS OF THIS COUNTRY, HOW CAN YOU CONTINUE TO SUPPORT THE REPUBLICANS, IF YOU HAVE, AFTER THEY HAVE OVERSEEN THE FINANCIAL COLLAPSE OF THE UNITES STATES OF AMERICA HOUSING MARKET?
*****
GOOD MORNING FLINT! 9/6/09
By Terry Bankert
http://goodmorningflint.blogspot.com/
Longer article with citations
or
http://goodmorningflint.blogspot.com/http://flinttalk.com/viewtopic.php?p=35564
* * * * *
Fannie Mae and Freddie Mac, government-chartered, shareholder-owned firms that provide liquidity to the housing market, have been whipsawed by the financial meltdown in the past year, losing some 90 percent of their value on fears of losses from mortgage defaults.[5]
**************
REFLECTIONS

This is an open letter to the small town residents and voters of this country.

The republicans are taking your vote for granted and playing you for fools.

I ask how can you continue to support the republicans that are the cause of and overseeing the financial collapse of the United States housing market. While doing so they are protecting their investor Republican base. Can you allow this to continue. The republicans knew the collapse of Fanny and Freddie was coming and forced a delay of the announce until after the republican convention. Why, McCain was part of the cause and Palin is clueless.

This happened on their watch. For this alone the republicans and their allies, big money, the theocons and the NRA must not be returned to power in the United States of America. You and your family will lose as this crisis unwinds.[trb]

THE ROLE OF GOVERNMENT ITS BUREAUCRACIES AND MILITARY IS TO KEEP THIS COUNTRY OUT OF HARMS WAY. THE REPUBLICANS HAVE FAILED MISERABLY.

How can you continue to support them. Is their position on life more important than the fiscal stability of the united states? If your answer is yes then there is something wrong with you and/or your leaders.[trb]

We must engage the base of the republican contender, they do not understand that there economic interest will be protected by the Democrats. We must engage in debate the theocons, evangelical, NRA and straight ticket republicans on these issues.

1. THIS FANNY AND FREDDIE BAILOUT WILL COST YOU AND YOUR CHILDREN BILLIONS.
2.AS TO THE REPUBLICANS ITS TIME TO GO, THIS ISSUE ALONE IS WHY.
3. IT IS IRONIC THAT THE REPUBLICAN POLITICAL CABAL THAT’S RUN THIS COUNTRY CALLS THEMSELVES CONSERVATIVES.
4.THEY HAVE CONSERVED NOTHING.
5.THEY HAVE SQUANDERED THE RESOURCES OF THIS COUNTRY.
6.WE CANNOT RISK FOR ANOTHER TERM THE REPUBLICANS AT THE HELM OF THIS COUNTRY.
********

COLLAPSE OF THE HOUSING MARKET, CAUSED BY THE REPUBLICAN.

This happened on their watch. For this alone the republicans and their allies, big money, the theocons and the NRA must not be returned to power in the United States of America.[trb]

You and your family will lose as this crisis unwinds.[trb] Among the winners are the holders of trillions of dollars of the companies’ senior debt and mortgage-backed securities, which are owned by big financial institutions and central banks around the world. On Friday, the premium investors demand to hold debt issued by Fannie Mae and Freddie Mac rather than comparable Treasury notes and bonds began to fall as word of the government plan spread. [3]

U.S. to take control of Fannie and Freddie.[1]

The U.S. government plans to put government sponsored mortgage finance companies Fannie Mae (FNM.N) and Freddie Mac (FRE.N) under federal control, the New York Times and Washington Post newspapers reported late Friday, in what could be the largest financial bailout in the nation's history.[1]

THE REPUBLICANS KNEW THIS WAS COMING, IN FACT IT WAS DELAYED UNTIL AFTER THEIR CONVENTION SO MCCAIN AMD PALIN COULD GET OUT OF TOWN AND BE HELD NOT ACCOUNTABLE FOR THE FINANCIAL COLLAPSE OF THESE BEDROCK AMERICAN INSTITUTIONS.

For months, the questions hanging over Fannie Mae and Freddie Mac, the beleaguered mortgage giants, have unnerved Wall Street and Main Street. Now, some answers are arriving — and with them a host of new questions.[3]

Senior officials from the Bush administration and the Federal Reserve on Friday informed top executives of mortgage finance giants Fannie Mae and Freddie Mac that the government was preparing to seize the two companies and place them in a conservatorship, officials and company executives briefed on the discussions said.[2]



The two government sponsored enterprises (GSEs) own or guarantee almost half of the country's $12 trillion in outstanding home mortgage debt. [1]

THE ROLE OF GOVERNMENT ITS bureaucracies AND MILITARY IS TO KEEP THIS COUNTRY OUR OF HARMS WAY.

THE REPUBLICANS HAVE FAILED MISERABLY. How can you continue to support them. Is their position on life more important than the fiscal stability of the United States? If your answer is yes then there is something wrong with you and/or your leaders.[trb]

GOVERNMENTAL BAIL OUT, THIS IS WHY GOVERNMENT HAS TO BE LARGE ENOUGH AND STAND READY TO HANDLE THE EMERGENCES OF THIS COUNTRY. REPUBLICAN POLICIES REDUCED THE LEVEL OF GOVERNMENTAL OVERSIGHT. MCCAIN WAS IN THE MIDDLE OF THIS IN CONGRESS. HE WAS ALSO IN THE MIDDLE OF THE SAVINGS AND LOAN CRISIS OF TWO DECADES AGO.

The plan, effectively a government bailout, was outlined in separate meetings that the chief executives were summoned to attend on Friday at the office of the companies' new regulator. The executives were told that, under the plan, they and their boards would be replaced, shareholders would be virtually wiped out, but the companies would be able to continue functioning with the government generally standing behind their debt, people briefed on the discussions said.[2]


THIS WILL COST YOU AND YOUR CHILDREN BILLIONS. AS TO THE REPUBLICANS ITS TIME TO GO. IT IS IRONIC THAT THE REPUBLICAN POLITICAL CABAL THAT’S RUN THIS COUNTRY CALLS THEMSELVES CONSERVATIVES. THEY HAVE CONSERVED NOTHING. THE HAVE SQUANDERED THE RESOURCES OF THIS COUNTRY.

Financial companies desperately need Fannie Mae and Freddie Mac to keep buying mortgages because falling home prices and rising delinquencies are hurting their ability to make and hold loans, said Douglas Peta, a market strategist at J&W Seligman. "None of us pays cash for a house," Mr. Peta said. "Pretty much everyone, unless you are a Russian oligarch, gets a residential mortgage."[3]

It is not possible to calculate the cost of any government bailout, but the huge potential liabilities of the companies could cost taxpayers tens of billions of dollars and make any rescue among the nation's largest ever.[2]

FANNIE AND FREDDIE ARE HEADED TO BANKRUPTCY, UNDER THE REPUBLICAN WATCH, THE BLAME IS ON THE REPUBLICANS

Under a conservatorship, the remaining common and preferred shares of Fannie and Freddie would be worth little, and any losses on mortgages they own or guarantee could be paid by taxpayers. A conservatorship would operate much like a prepackaged bankruptcy, similar to what smaller companies use to clean up their books and then emerge with stronger balance sheets.[2]

The two firms would be placed in "conservatorship", the Washington Post said, citing sources familiar with the discussions.[3]

The value of the company's common stock would be diluted but not wiped out, while the holdings of other securities, including company debt and preferred shares, would be protected by the government, the Washington Post said.[3]

THEY WERE READY LAST WEEK, I BET MCCAIN BEGGED THEM TO NOT ANNOUNCE DURING THE REPUBLICAN CONVENTION, WHAT FRAUDS THESE REPUBLICAN ARE.

The executives were told that the government had been planning to announce the decision as early as Sunday, before the Asian markets reopen, the officials said.[2]
For months, administration officials have grappled with the steady erosion of the books of the two mortgage finance giants.[2]

THE REPUBLICANS HAVE ALLOWED FOREIGN COUNTRIES TO OWN THE DEBT OF THIS COUNTRY, WHAT SECURITY IS THAT.

But the declining housing and financial markets have apparently now forced the administration's hand. With foreign governments growing increasingly skittish about holding billions of dollars in securities issued by the companies, no sign that their losses will abate any time soon and the inability of the companies to raise new capital, the administration apparently decided it would be better to act now rather than closer to the presidential election in two months.[2]

HUGE EXPANSE IN THE SIZE OF GOVERNMENT UNDER A REPUBLICAN ADMINISTRATION

The action would represent a major escalation of the government's role in private lending. The government would be assuming vast obligations it has historically disavowed, potentially using taxpayer money to make up for private business decisions gone wrong.[2]

WE ARE BAILING OUT TWO PRIVATELY HELD INSTITUTIONS FREDDIE AND FANNY, SHARES HELD BY REPUBLICANS. THIS BAILOUT IS NOT TO SAVE THE COUNTRY, ONLY TO GIVE MONEY TO REPUBLICANS . MONEY THAT FREE MARKET DOCTRINE SAYS THEY SHOULD LOSE. THE REPUBLICANS ARE ALL ABOUT MONEY, THEIRS.

In an effort to contain the most profound financial crisis in generations, Treasury Secretary Henry Paulson, leaders of the Federal Reserve and other government officials have in recent months upended decades of precedent. A bailout of the two mortgage finance titans would follow a Fed rescue of investment bank Bear Stearns in March and earlier steps to provide implicit government backing to Fannie Mae and Freddie Mac.[2]

Fannie Mae and Freddie Mac have backed 70 percent of new mortgages in recent months, but both have incurred vast losses on their loan portfolios as the housing market has tanked. Paulson, the architect of the plan, and other government leaders view the mortgage firms as vital to preventing an even broader financial crisis and economic downturn.[2]

The two government sponsored enterprises (GSEs) own or guarantee almost half of the country's $12 trillion in outstanding home mortgage debt.[3]

REPUBLICANS AND THEIR BUDDIES IN CONGRESS HAVE HANDED OVER THE TAXPAYERS CHECK BOOK TO TWO PRIVATE COMPANIES WITH PRIVATE SHARE HOLDERS.

If the plan is enacted, it would bring under direct government control two companies that have a long and complicated history as hybrid public and private entities. In July, with the companies reeling from losses and as fears grew that they wouldn't be able to raise new cash privately, Paulson gained the power to invest government money in Fannie Mae and Freddie Mac through loans or buying company stock if he concludes it is necessary. In approving the authority, Congress gave Paulson power to invest an unlimited sum.[2]

Although the companies' shares initially soared on that news, their financial positions have worsened in recent weeks, along with their ability to raise money on the markets.[2]

If the government plan succeeds, uncertainty in the markets around Fannie Mae and Freddie Mac could subside, making it easier for the companies to get access to funding at cheaper rates.

DO YOU WANT TO RISK SPECULATION BY THE SAME PEOPLE WHO HAVE BROUGHT ABOUT THE COLLAPSE OF THE HOUSING MARKET.

That, in turn, could have a spillover effect in the overall market for mortgages, lowering interest rates and helping the battered housing market recover.[2]

WE CANNOT RISK FOR ANOTHER TERM THE REPUBLICANS AT THE HELM OF THIS COUNTRY.

Posted here 9/4/08 by Terry Bankert http://attorneybankert.com/


-where did this stuff come from--
[1]
http://www.washingtonpost.com/wp-dyn/content/article/2008/09/06/AR2008090600427.html
[2]
http://www.chron.com/disp/story.mpl/business/5986528.html
[3]
http://www.reuters.com/article/newsOne/idUSN0527801420080906
[4]
http://www.nytimes.com/2008/09/06/business/06credit.html?ref=business
[5]
http://afp.google.com/article/ALeqM5glKHSt4dm_6uPHzFxTucQ6H_A9iQ
[trb]
Comments of Terry Bankert to include inattributed cap headlines.
http://attorneybankert.com/

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Thursday, September 4, 2008

Republican offer nothing new....

An immediate retort,From my email bag
----
Terry

Why would the Republicans spend a whole night of their convention attacking ordinary people?

With the nation watching, the Republicans mocked, dismissed, and actually laughed out loud at Americans who engage in community service and organizing.

Our convention was different. We gave the stage to everyday Americans who hunger for change and stepped up to make phone calls, knock on doors, and raise money in small amounts in their communities.

You may have missed it, but we also showed the country a video with the faces and voices of those organizers, volunteers, and donors from every corner of the country.

What you didn't hear from the Republicans at their convention is a single new idea about how to make the healthcare system work, get our economy moving for the middle class, or improve education.

Just attacks -- on me, and on you. But what the McCain attack squad doesn't understand is that people like you -- who devote part of their busy lives to organizing and building their communities -- have the power to change this country.

With your help, that's exactly what we're going to do.

Thank you,

Barack

====
Posted here 9/4/08 by
Terry Bankert
http://attorneybankert.com/




http://flinttalk.com/viewtopic.php?p=35499#35499

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