11/09/2008

Small Talk



"Anonymity is the enemy of civility, and produces insensitivity and callousness. The nice thing about small towns is everybody has to be civil to each other. You can't live that close without being civil. Nobody in our hometown suppressed arguing something on the merits, but it was done in a civil fashion. I think there actually tends to be more independent thinking in small towns. It helps develop individuality to be in smaller communities."

Gaylord Nelson
former US Senator
Clear Lake, Wisconsin

11/05/2008

What Nitwits Say About Obama Victory



Check out more at Nitwit Central... Ontheborderline.net

11/03/2008

Joe the Plumber Plunges Into Action























Hidden security cameras capture Joe the Plumber attempting to suck the hope out of one Hudson voter. When confronted about his actions Joe said:
" Go hug a tree moonbat! This is America, I can suck if I want to, it says so in the Constitution".

Diebold Accidently Releases '08 Election Results Early

11/02/2008

Seattle Times Endorses Obama


"Sen. John McCain is a decent man, a solid senator. He is not the right person to change Washington, D.C. He is too much of Washington. His behavior, as evidenced by his absurd choice of Alaska Gov. Sarah Palin as his vice-presidential running mate, is too erratic."

The Seattle Times Editorial Board

Palin Phone Pranked By Canadians

Catholics For Obama

Someone asked me today.. "Why vote For Obama". For me, I thought the answer was so obvious that I didn't have a ready reply.
Here are some people who do.



























Here a message from Martin Sheen Here:
Read more here: Catholics For Obama

Why Bother? -It Doesn't Matter- Don't Vote

11/01/2008

McCain's Special Interests



Hannity Ayers His Views

LA Time Endorses Obama



"Palin is the most unqualified vice presidential nominee of a major party in living memory. The decision calls into question just what kind of thinking - if that's the appropriate word - would drive the White House in a McCain presidency."

LA Time Endorsement of Obama

10/30/2008

Nader Schools Palin

Cartoons In Real Life

10/29/2008

Rush Limbaugh's "PreButtle" To Obama


Listen here (if you have the stomach for it )

Palin the Socialist: Alaskans ‘Collectively … Share the Wealth’ from Oil Revenue

New Yorker
"For her part, Sarah Palin, who has lately taken to calling Obama “Barack the Wealth Spreader,” seems to be something of a suspect character herself. She is, at the very least, a fellow-traveller of what might be called socialism with an Alaskan face. The state that she governs has no income or sales tax. Instead, it imposes huge levies on the oil companies that lease its oil fields. The proceeds finance the government’s activities and enable it to issue a four-figure annual check to every man, woman, and child in the state. One of the reasons Palin has been a popular governor is that she added an extra twelve hundred dollars to this year’s check, bringing the per-person total to $3,269. A few weeks before she was nominated for Vice-President, she told a visiting journalist—Philip Gourevitch, of this magazine—that “we’re set up, unlike other states in the union, where it’s collectively Alaskans own the resources. So we share in the wealth when the development of these resources occurs.” Perhaps there is some meaningful distinction between spreading the wealth and sharing it (“collectively,” no less), but finding it would require the analytic skills of Karl the Marxist."

How Far Have We Traveled?


The man who drives me into Indiana is a construction worker in a shiny new Dodge pickup. A sling holds his right arm, so he steers and lights cigarettes with his left one. He’s heading for a car wash in Terre Haute. He lives outside of town.

“There’s my house, right up there,” he says, pointing with his good arm to a cabin on a wooded hill. “Yeah, it’s nice out here. No niggers out here. Them niggers ruin everything. Run the value of your house down, everything.”

When he drops me at the car wash, I see an African-American pulling out in a Porsche. I take a few steps before realizing he’s the first black person I’ve seen since leaving California.

I have a good friend who is black. He’s often told me that there are entire regions of the country he’d rather see from an airplane. I always thought it was hyperbole. Until now. How sad it is that you can travel through ten states and encounter only white Americans along the way.

Three-quarters of the people who give me rides say they never pick up hitchhikers. An equal number tell me I’m “clean-cut.” I knew appearances would count for a lot on this trip. But every time I shave and shower and put on a fresh shirt, I never think about the one aspect of my appearance I can’t change: the color of my skin.

If a clean-cut black man set out from San Francisco on a penniless journey and followed my exact route, how far would he get? I’d like to think he’d be standing here with me, in Terre Haute, Indiana, but I fear that may not be the right answer.

Mike McIntyre
The Kindness of Strangers: Penniless Across America

10/28/2008

Bear Market For Conservatives

"Conservatism, an ideology once driven by principle, has shrunk until its purview can be, and often is, delineated in three syllables: God, guns, gays. Worse, it has embraced a win-at-all-costs ethos and intellectual dishonesty that are, even by the seamy standards of modern politics, astonishing...."


"...You cannot, if you've got half a brain, define that as anything but hypocrisy. And if true conservatives hate seeing that kind of duplicity associated with conservatism, I understand. But I have a question for them: Where have you been the last 15 years? Where were you when conservatism was untethered from principle, unhooked from reality? Where were you when it became smug and self-righteous, when it traded its integrity for situational outrage, its credibility for angry certitude, its honor for ballot box success? Where were you when it sold out to evangelicals and anti-intellectuals? Where were you when it got hijacked?..."

Leonard Pitts, Jr.

10/27/2008

Wolves, Sheep, Bears & Bull


"The $700 billion bailout for Wall Street is driven by fear, not fact. This is too much money in too a short a time going to too few people while too many questions remain unanswered. Why aren't we having hearings on the plan we have just received? Why aren't we questioning the underlying premise of the need for a bailout with taxpayers' money? Why have we not considered any alternatives other than to give $70billion to Wall Street? Why aren't we asking Wall Street to clean up its own mess? Why aren't we passing new laws to stop the speculation, which triggered this? Why aren't we putting up new regulatory structures to protect investors? How do we even value the $700 billion in toxic assets?"

Dennis Kucinich
US Congressman

10/26/2008

Yo Sarah! Is It Individuals or Country First?



I'm confused here. Palin says she wants to put "country first." Isn't that what the so-called "communists" do? Isn't she supposed to be putting the individual first?

Since taxes have long be levied since ancient times, I'm unclear as to how taxes have suddenly become singularly tied to socialism. I believe Obama is talking about restoring the tax code so it would be similar to what was in place during the Clinton administration. You remember the booming 1990s? Call it what you will, but I call it a "progressive tax code."

If you are wondering what the future of the Republican Party looks like, think Palin and Michelle Bachmann. I seeing a battle coming in the GOP between the base supporting the guns, God and gays platform of Palin and the intellectual, ideological conservative minority.

Look for Palin to be a force in the scream, shout and hate branch of the Republican Party that man the rhetorical pitches in the mob mentality that fights to put "country first" when they actually mean "individuals first."

Grilled Greenspan



On March 3, 2005, Democratic Senate Minority Leader Harry Reid attacked Greenspan as one of the biggest political hacks we have here in Washington and criticized him for supporting Bush's 2001 tax cut plan. Greenspan has also received criticism from Democratic Congressman Barney Frank and others for his support of Bush's plan to phase out Social Security in favor of private accounts. Greenspan had said Bush's model has "the seeds of developing full funding by its very nature. As I've said before, I've always supported moves to full funding in the context of a private account."

2008 Noble Prize winning economist Paul Krugman, a frequent Greenspan critic, wrote in the New York Times that Greenspan was a three-card maestro with a lack of sincerity who, by repeatedly shilling for whatever the Bush administration wants, has betrayed the trust placed in the Fed chairman. Charges that Greenspan was veering beyond the Fed's purview of monetary policy into fiscal and political matters traditionally left to lawmakers became more prevalent, coming for example from sources such as Republican Senator Jim Bunning who voted against reconfirming him.

Then-Democratic House Minority Leader Nancy Pelosi stated in 2005 there were serious questions about the Fed's independence as a result of Greenspan's public statements. But others like Republican Senator Mitch McConnell disagreed, stating that Greenspan has been an independent player at the Fed for a long time under both parties and made an enormous positive contribution. Furthermore, Greenspan had used his position as Fed Chairman to comment upon fiscal policy as early as 1993, when he supported President Clinton's deficit reduction plan, which included tax hikes and budget cuts.

The Pro-American State Team


"Someone called me a redneck woman once, And I said, 'Why thank you.'"

Sarah Palin

10/25/2008

The Sound Of Eating Crow

"Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities."

Alan Greenspan
Former US Federal Reserve chairman
October 2004


"Those of us who have looked to the self-interest of lending institutions to protect shareholders' equity, myself included, are in a state of shocked disbelief."

Alan Greenspan
On the global financial meltdown


"The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake."

Alan Greenspan

Joe The "Hot Head"

















Meet Joe the Hot Head
Joe McCain said Friday he'll withdraw from campaign activities for his brother, GOP presidential nominee John McCain, after calling 911 to angrily complain about traffic. Joe McCain has apologized for making the call.

The candidate's younger brother, who lives in Alexandria, Va., told Washington radio station WTOP he was returning from a campaign event in Philadelphia around 2 a.m. on Oct. 18 when he got stuck in traffic on Interstate 495 at the Wilson Bridge. Police say the call was made about 1:30 a.m. Oct. 21.

Frustrated because of the traffic, Joe McCain called 911 to find out what was going on. The operator asked him to "state your emergency."

"Well, it's not an emergency, but do you know why on one side at the damn drawbridge of 95 traffic is stopped for 15 minutes and yet traffic's coming the other way?" Joe McCain said.

The operator asked him if he was calling 911 to complain about traffic. McCain then uttered an expletive and hung up the phone.

Greed By George!


"We probably had too good of an opinon of human nature in forming our confederation....We must take human nature as we find it. Perfection falls not to the share of mortals."

George Washington

10/24/2008

Another Ayn Rand Cult Member Recants



WASHINGTON (MarketWatch) -- Financial regulators made "fateful mistakes" that helped drive the global financial system to the brink, said Chris Cox, chairman of the Securities and Exchange Commission, in congressional testimony Thursday. Cox said he and other regulators have learned many lessons, chiefly that "voluntary regulation does not work."
OH REALLY????????????









"Where Have You Been All These Years?" Rep. Cummings


Cox's Nomination In Review

"Cox, nominated on Thursday, has a long record of promoting the agenda of business interests that are a cornerstone of the Republican Party's political and financial support.

A major recipient of contributions from business groups, the accounting profession and Silicon Valley, he has fought against accounting rules that would give less favorable treatment to corporate mergers and executive stock options. Cox - a devoted student of Ayn Rand, the high priestess of unfettered capitalism - opposes taxes on dividends and capital gains."

Cox Last Week ( Now he tells us ) NY Time Opinion by Christopher Cox

THE historic volatility in the financial markets has raised important questions about the lack of meaningful regulation of financial instruments known as credit-default swaps. The $85 billion government rescue last month of the insurance conglomerate American International Group, for example, was needed in large part to protect those who held A.I.G.’s credit-default swaps and risked crushing losses if those instruments weren’t honored.

A.I.G. had issued $440 billion in credit-default swaps — which are like insurance contracts on bonds and other assets that are meant to pay off if those assets default. But as markdowns on A.I.G.’s investments in subprime mortgages led to downgrades in its credit ratings, the holders of the credit-default swaps demanded more collateral, which A.I.G. could not provide.

As large as A.I.G.’s swaps exposure was, it represented only 0.8 percent of the $55 trillion in credit-default swaps outstanding — this total market is more than the gross domestic product of all nations on earth combined.

Yet despite its enormous size, the credit-default swaps market has operated in the shadows. There is no public disclosure nor any legal requirement for these contracts to be reported to the Securities and Exchange Commission or any other agency. So government regulators have had no way to assess how much risk is in the system, whether credit-default swaps have been accurately valued or honestly traded, and when people issuing and trading them have taken on risk that threatens others.

Rush To Think In Black Or White

ATBL was RIGHT all along!

Alan Greenspan acknowledged that his "Free Market" thinking was "F'd up". Why won't the POS Dr.s at OTBL????

Just a reminder. This blog has been saying what Greenspan now admits since it was founded. So,Take THAT OTBL!

"The financial crisis even prompted the Republican Greenspan, a staunch believer in free markets, to propose that government consider tougher regulations, including requiring financial firms that package mortgages into securities to keep a portion as a check on quality.

WASHINGTON - Badgered by lawmakers, former Federal Reserve Chairman Alan Greenspan denied the nation’s economic crisis was his fault on Thursday but conceded the meltdown had revealed a flaw in a lifetime of economic thinking and left him in a “state of shocked disbelief.”"

From The Wall St. Journal

The 82-year-old Mr. Greenspan said he made "a mistake" in his hands-off regulatory philosophy, which many now blame in part for sparking the global economic troubles. He quoted something he had written in March: "Those of us who have looked to the self-interest of lending institutions to protect shareholder's equity (myself especially) are in a state of shocked disbelief."

He conceded that he has "found a flaw" in his ideology and said he was "distressed by that." Yet Mr. Greenspan maintained that no regulator was smart enough to foresee the "once-in-a-century credit tsunami."


Amid the barrage of questions, Mr. Greenspan dodged and weaved. He would begin meandering responses in the elaborate phraseology that once served him so well, only to be cut off as lawmakers sought to use their brief question time for sharper attacks.

10/23/2008

They Smiled While The Nation Whined



"The fundamentals of our economy are strong."

John McCain
September 15, 2008

"Losing a job is painful, and I know Americans are concerned about our economy; so am I. It's clear our economy has slowed, but the good news is, we anticipated this and took decisive action to bolster the economy, by passing a growth package that will put money into the hands of American workers and businesses."

President Bush
March 7 on news that the economy lost 63,000 payroll jobs in February


"You've heard of mental depression; this is a mental recession. We have sort of become a nation of whiners. You just hear this constant whining, complaining about loss of competitiveness, 'American in decline'...We've never been more dominant; we've never had more natural advantages than we have today."

Phil Gramm
McCain Economic Adviser

New McCain Logo

The Core Message

10/22/2008

The Road To The White House


What Would Joe The Plumber Wear

Republicans had to spend $150,000 updating Sarah Palin's wardrobe. Blaze orange and snowmobile suits saying "Artic Cat" just don't cut it in the Anti-American swing states.

Palin Before VP Selection


Broken by the Politico: According to financial disclosure forms, the Republican National Committee has spent a staggering $150,000 for wardrobe, and accessories for the Palin family since her selection as John McCain’s running mate. The costs include bills from Saks Fifth Avenue for almost $50,000, $75,000 at Neiman Marcus, and about $5,000 in hair and makeup.

Palin After $150,000 Makeover

RedStateUpdate Colin Powell Endorses Obama



Red State Update With Joe The Plumber

10/21/2008

Protesters Picket Palin House


Republicans Reflect On "Joe"

Joe Six Pack, Joe The Plumber, Joe Stalin, Joe McCarthy...



Last Friday, we had an extraordinary claim made here on Hardball. U.S. Congresswoman Michele Bachmann said this about the Democratic nominee for president:

CHRIS MATTHEWS: So this is a character issue. You believe that Barack Obama may -- you're suspicious because of this relationship -- may have anti-American views. Otherwise, it's probably irrelevant to this discussion.

REP. MICHELE BACHMANN, R-MINN.: Absolutely. I absolutely...

MATTHEWS: Do you believe that... Barack Obama may have anti-American views?

BACHMANN: Absolutely. I'm very concerned that he may have anti- American views. That's what the American people are concerned about. That's why they want to know what his answers are. That's why Joe the plumber has figured so highly in had the last few days...

MATTHEWS: OK. I just want to get off this...

BACHMANN: What I would say is that the news media should do a penetrating expose and take a look. I wish they would. I wish the American media would take a great look at the views of the people in Congress and find out, are they pro-America or anti-America? I think people would love to see an expose like that.

Read more by Chris Matthews.

10/19/2008

Advice We Didn't Heed

Colin Powell Endorses Senator Obama

Former Secretary of State Gen. Colin Powell (Ret.) endorses Sen. Barack Obama, D-Il. " Powell, who had been courted by both Obama and John McCain, breaks his recent silence and shares his reasons for crossing party lines to endorse Sen. Obama.

Timely Stock Buying Tip



Normally I avoid discussing any advice regarding buying or selling of stocks, but I felt this is important enough to share and warn you since this explosive situation might prove to be yet another ENRON. Please review any holdings you might have in the following stocks: American Can, Interstate Water, National Gas Company, Northern Tissue Company.

Due to uncertain market conditions, I advise you to sit tight on your American Can, hold your Water, and let go of your Gas. You may be interested to know that Northern Tissue touched a new bottom today, and millions were wiped clean.

10/18/2008

Well This Proves IT! (Whatever IT is?)



Well now I get it!

From A Reader



"I was depressed last night, so I called Lifeline. Got a call center in Pakistan. I told them I was suicidal. They got all excited and asked if I could drive a truck."

The Bailout Analyzed

10/16/2008

Express of Doubt

Plumber Joe Speaks

Joe Wurzelbacher is a 34-year-old plumber's assistant and a registered Republican who thinks Barack Obama "can tap dance - almost as good as Sammy Davis Jr."


"I'm kind of like Britney Spears having a headache."

Joe "the Plumber" Wurzelbacher

Plumbing The Debate Facts

In the final 2008 Presidential debate, John McCain said "Joe the plumber" faced "much higher taxes" under Obama's tax plan and would pay a fine under Obama's health care plan if he failed to provide coverage for his workers. But Ohio plumber Joe Wurzelbacher would pay higher taxes only if the business he says he wants to buy puts his income over $200,000 a year, and his small business would be exempt from Obama's requirement to provide coverage for workers.



Update Oct. 16: ABC News reported the morning after the debate that Wurzelbacher admitted to a reporter that he won't actually make enough from his new plumbing business to pay Obama's higher tax rates. ABC said his admission "would seem to indicate that he would be eligible for an Obama tax cut."

More @ Newsweek.

10/15/2008

10/14/2008

Flashing The Gender Cards

Take the McCain - Bush Challenge

Someone Else Who "Pals Around With Terrorists"

McCain to Take Country In A New Direction! (kinda)

Celebrate Take Your Gun To School Day

















Guns are people too! Don't they deserve the opportunity to get a education?

An adjunct librarian shot and killed a fellow employee Monday afternoon in the library at Northeast Lakeview College, located at 8300 Pat Booker Rd., school officials said.

The 62-year-old librarian walked in around 2:15 p.m. and shot Devin Zimmerman, a 37-year-old instructor and fellow librarian, said Eric Reno, president of the college. He then sat down and waited to be arrested. Reno said the two men knew each other and worked together often, but officials had no motive for the shooting.

"I wish we had an explanation for why this happened," Reno said. “It’s a tragedy nobody could have imagined.”
Oh Really? read more

10/13/2008

Won't Get Fooled Again?

There's An "I" in "Elite"

McCain's attacks fuel dangerous hatred



"Stop! Think! Your rallies are beginning to look, sound, feel and smell like lynch mobs.

John McCain, you're walking a perilous line. If you do not stand up for all that is good in America and declare that Senator Obama is a patriot, fit for office, and denounce your hate-filled supporters when they scream out "Terrorist" or "Kill him," history will hold you responsible for all that follows.

John McCain and Sarah Palin, you are playing with fire, and you know it. You are unleashing the monster of American hatred and prejudice, to the peril of all of us. You are doing this in wartime. You are doing this as our economy collapses. You are doing this in a country with a history of assassinations."

Frank Schaeffer

Read more @ Baltimore Sun.

10/12/2008

Is Obama a Muslin?

The Two Red Faces of McCain

McCain endorsed by widow of founder of "radical education foundation"



In John McCain's newest Web ad, he attacks Barack Obama for supporting a "radical education foundation" that gave millions to "ideological allies" that resulted in scant improvement in the quality of public schools. He was referring to the Chicago Annenberg Challenge.

McCain, who has criticized Obama for his ties to William Ayers, one of the founders of Chicago's Annenberg project, is now associating with the very foundation that funded the "radical" work. His campaign sent out a press release listing all of the former U.S. ambassadors who support him.

On his supporters' list: Leonore Annenberg, 90, who was chief of protocol in the Reagan White House and is the president and chairman of the Pennsylvania-based Annenberg Foundation. She is the widow of Walter H. Annenberg, the late publisher, philanthropist, ambassador, and founder of the Annenberg Challenge.

Read more on @ the Annedberg Challenge.

Who IS Joe Six Pack?

10/11/2008

Red State Update: Bailout Analysis

Can You Spot The Problem With ACORN?

“The creation of a thousand forests is in one acorn."

Ralph Waldo Emerson




10/10/2008

Red State Analysis: Palin-Biden Debate

More Rational Dialogue From McCain/Palin Supporters

Meet Sarah Palin’s radical right-wing pals



Oct. 10, 2008 PALMER, Alaska — | On the afternoon of Sept. 24 in downtown Palmer, Alaska, as the sun began to sink behind the snowcapped mountains that flank the picturesque Mat-Su Valley, 51-year-old Mark Chryson sat for an hour on a park bench, reveling in tales of his days as chairman of the Alaska Independence Party. The stocky, gray-haired computer technician waxed nostalgic about quixotic battles to eliminate taxes, support the “traditional family” and secede from the United States.

So long as Alaska remained under the boot of the federal government, said Chryson, the AIP had to stand on guard to stymie a New World Order. He invited a Salon reporter to see a few items inside his pickup truck that were intended for his personal protection. “This here is my attack dog,” he said with a chuckle, handing the reporter an exuberant 8-pound papillon from his passenger seat. “Her name is Suzy.” Then he pulled a 9-millimeter Makarov PM pistol — once the standard-issue sidearm for Soviet cops — out of his glove compartment. “I’ve got enough weaponry to raise a small army in my basement,” he said, clutching the gun in his palm. “Then again, so do most Alaskans.” But Chryson added a message of reassurance to residents of that faraway place some Alaskans call “the 48.” “We want to go our separate ways,” he said, “but we are not going to kill you.”

Though Chryson belongs to a fringe political party, one that advocates the secession of Alaska from the Union, and that organizes with other like-minded secessionist movements from Canada to the Deep South, he is not without peculiar influence in state politics, especially the rise of Sarah Palin. An obscure figure outside of Alaska, Chryson has been a political fixture in the hometown of the Republican vice-presidential nominee for over a decade. During the 1990s, when Chryson directed the AIP, he and another radical right-winger, Steve Stoll, played a quiet but pivotal role in electing Palin as mayor of Wasilla and shaping her political agenda afterward. Both Stoll and Chryson not only contributed to Palin’s campaign financially, they played major behind-the-scenes roles in the Palin camp before, during and after her victory.

Read more @ Salon.com.

10/09/2008

Blunder Woman Dances With Wolves

The McCain-Palin Mob

Who would'a Thunk

"My Fellow Prisoners"


Republican presidential candidate John McCain while speaking to his supporters in Bethlehem, Penn, referred to them as “my fellow prisoners”. The presidential race has become the malaprop marathon, the Daily News reported. At a Pennsylvania rally on Wednesday McCain referred to “my fellow prisoners,” when he apparently meant to say “my fellow Americans.” It came amid a riff cracking Obama. But instead of drawing cheers, the puzzled audience was silent.

10/08/2008

Palin: Pit Bull With A Lynch Mob

"Now it turns out, one of his earliest supporters is a man named Bill Ayers," Palin said.

"Boooo!" said the crowd.

"And, according to the New York Times, he was a domestic terrorist and part of a group that, quote, 'launched a campaign of bombings that would target the Pentagon and our U.S. Capitol,'" she continued.
"Boooo!" the crowd repeated.

"Kill him!" proposed one man in the audience.

Palin went on to say that "Obama held one of the first meetings of his political career in Bill Ayers's living room, and they've worked together on various projects in Chicago."

Palin says nothing.



By Dana Milbank
CLEARWATER, Fla. -- "Okay, so Florida, you know that you're going to have to hang onto your hats," Sarah Palin told a rally of a few thousand here this morning, "because from now until Election Day it may get kind of rough."

You betcha. And the person dishing out the roughest stuff at the moment is Sarah Palin.

read more @ Washington Post.

10/07/2008

Prediciton From 1999...

Fannie Mae Eases Credit To Aid Mortgage Lending

"Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements. Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market."

Franklin D. Raines
Fannie Mae's chairman and CEO in 1999




By STEVEN A. HOLMES
Published: September 30, 1999

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.

Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.

Read more @ NY Times.

10/06/2008

John McCain And The Making Of A Financial Crisis

Bill O'Reilly Grows Up...

"If I'm the president of the United States, I walk right into Union Square, I set up my little presidential podium, and I say, 'Listen, citizens of San Francisco, if you vote against military recruiting, you're not going to get another nickel in federal funds. Fine. You want to be your own country? Go right ahead. And if Al Qaeda comes in here and blows you up, we're not going to do anything about it. We're going to say, look, every other place in America is off limits to you, except San Francisco. You want to blow up the Coit Tower? Go ahead.'"

Bill O'Reilly
after San Francisco voted to ban military recruiters from city schools, Nov. 8, 2005



"If the Americans go in and overthrow Saddam Hussein and it's clean, he has nothing, I will apologize to the nation, and I will not trust the Bush Administration again, all right?"

Bill O'Reilly
on finding weapons of mass destruction in Iraq, March 18, 2003

The Keating 5 Revisited


















Among McCain's earliest benefactors in Arizona was Lincoln Savings and Loan chief Charles Keating Jr., who filled McCain's campaign coffers with more than $100,000 and hosted the McCains multiple times at his vacation home in the Bahamas."
More @ The SeatleTimes

Speaking of Associations!

10/05/2008

How Maverick McCain Rescued the Economy

Senator Russ Feingold Speaks in Hudson

Palin makes Obama terrorist claim

Several day after jumping over the 2" bar of low expectations, Palin goes on to attack Obama.

Palin makes Obama terrorist claim


Watch Sarah Lie Though Her Lipstick:


US Republican vice-presidential nominee Sarah Palin has accused the Democratic presidential candidate, Barack Obama, of associating with terrorists.

She said he had been "palling around" with an ex-member of US-based militant group Weather Underground, which opposed the Vietnam War in the 1960s.

Mr Obama once served on a charity board with a member of the group, but he has denounced its activities.

A Democratic spokesman accused the Republicans of gutter politics.

"What's clear is that John McCain and Sarah Palin would rather spend their time tearing down Barack Obama than laying out a plan to build up our economy," Hari Sevugan said.

Commentators say Mrs Palin's attack forms part of a broader Republican strategy to attack Mr Obama's character.

Denunciation

Speaking to supporters in Colorado and later in a Los Angeles suburb, Alaska Governor Palin said the time had come to take the gloves off.

John McCain and Barack Obama (composite image)
The White House candidates face their second debate on Tuesday

Quoting a New York Times article, she attacked Senator Obama over his link to Bill Ayers, a founder of the Weather Underground, which waged a violent campaign against the Vietnam War.

The group was blamed for a number of bombings in the US in the 1960s.

Mrs Palin described Mr Obama as someone who saw the US "as being so imperfect... he is palling around with terrorists who would target their own country".

Mr Obama served on a charity board several years ago with Mr Ayers, who is now a professor at the University of Illinois.

The White House hopeful, who was a child when Weather Underground was active, has denounced Mr Ayers' radical past.