Barack’s Wall Street Problem is Now America’s
By Larry Johnson on September 21, 2008 at 8:56 AM in Current Affairs
(bumped up by SusanUnPC)
Barack Obama has a major Wall Street and Washington problem that the media so far is refusing to acknowledge or explore. He is in the pocket of the Wall Street firms and mortgage security companies that are at the center of the collapse of the real estate bubble. He is closely tied to at least two of the Fannie Mae principals. As Ricky Ricardo would say, “Barack, you got some splaining to do.”
Let’s start with the numbers. Why is a first term Senator pulling down almost $300,000 a year from Goldman Sachs, Lehman Brothers, Bear Stearns, Fannie Mae, Freddie Mac, AIG, Countrywide Financial, and Washington Mutual? He has not even completed his fourth year in the Senate and received a total of $1,093,329.00 from these eight companies and their employees. (all data from OpenSecrets.org). John McCain’s numbers, according to OpenSecrets.org for the period 1990-2008 (i.e., 18 years worth of data) only collected $549,584.00. In other words, Barack is receiving $273,582.25 (and 2008 is not over) per year while McCain raised a paltry $30,532.44.
Want another shocker? Barack Obama has received more from one source–Goldman Sachs $542,252.00–than McCain has from all of the companies combined. Who the hell is more beholden to lobbyists? And why does a junior Senator from Illinois rate this kind of dough?
Why are these firms and their employees showering Barack with their cash? Although the conventional wisdom wants to pin the Wall Street debacle on Republican greed, the reality is that the real estate market and the big players on Wall Street have been a Democratic game. McCain’s hands are clean when it comes to this mess. That is not spin, that is a fact. He proposed legislation back in 2006 to start addressing the abuses of Fannie Mae and Freddie Mac but the Democrats would have none of it.
Why? Here’s the explanation.
To understand you must first appreciate that the largest debt market in the United States is the mortgage market. One of the major players in the market, at least until this month, is Fannie Mae. Fannie Mae was initially established in 1938 in order to provide a secondary mortgage market. What does this mean? It would buy mortgages from one lender and sell mortgages to another. It played the role of a broker who helped make the market work.
Fannie Mae because a private company in 1968 and continued to fund mortgages by issuing mortgage backed securities (i.e., MBS). When Fannie Mae issues the MBS she is guaranteeing the investors a return on their investment and, at the same time, providing a source of funds to supply additional mortgages.
Fannie Mae was not standing on a corner selling mortgages out of a hot dog stand on the corner. She needed help on Wall Street. So, who helped her market the securities and raise the case? The “good” folks at Goldman Sachs, Lehman Brothers, and AIG, just to name the more prominent ones.
So who was in charge of Fannie Mae for 16 of the last 18 years? Let’s start with James A. Johnson (no relation). Remember him? Barack initially tabbed him to head up the Vice Presidential search team. He was Walter Mondale’s campaign manager in the 1984 fiasco and chaired the search committee for John Kerry. But he started as Vice Chairman of Fannie Mae in 1990, quickly moved up to be the CEO, and left Fannie in 1999 as Chairman of the Executive Committee.
And guess where he went? Fishing? Nope. He became one of the outside directors of the board of Goldman Sachs in 1999 and also served as the Managing Director of Corporate Finance for Lehman Brothers.
The roles of Goldman Sachs and Lehman Brothers are important to understand if you are to make sense of Fannie Mae’s collapse. When Johnson moved to Goldman Sachs, the main man at Fannie was Franklin D. Raines. Late in 2005 Raines resigned from Fannie Mae, accused of being in charge when the books were cooked. The scheme is fairly simple. Raines and other top executives made bonuses if they hit specific earnings targets for the securities sold by Fannie Mae. They regularly hit those targets until it was discovered by the (SEC) Securities & Exchange Commission’s top accountant Fannie misstated earnings for 3 1/2 years, leading to an estimated $9 billion restatement that will wipe out 40% of profits from 2001 to mid-2004.
The Office of Federal Housing Enterprise Oversight (OFHEO) concluded:
During the period covered by this report—1998 to mid-2004—Fannie Mae reported extremely smooth profit growth and hit announced targets for earnings per share precisely each quarter. Those achievements were illusions deliberately and systematically created by the Enterprise’s senior management with the aid of inappropriate accounting and improper earnings management.
By deliberately and intentionally manipulating accounting to hit earnings targets, senior management maximized the bonuses and other executive compensation they received, at the expense of shareholders. Earnings management made a significant contribution to the compensation of Fannie Mae Chairman and CEO Franklin Raines, which totaled over $90 million from 1998 through 2003. Of that total, over $52 million was directly tied to achieving earnings per share targets.
Fannie Mae’s Board of Directors contributed to those problems by failing to be sufficiently informed and to act independently of its chairman, Franklin Raines, and other senior executives, failing to exercise the requisite oversight over the Enterprise’s operations, and failing to discover or ensure the correction of a wide variety of unsafe and unsound practices, even after the Freddie Mac problems became apparent.
Senior management did not make investments in accounting systems, computer systems, other infrastructure, and staffing needed to support a sound internal control system, proper accounting, and GAAP-consistent financial reporting. Those failures came at a time when Fannie Mae faced many operational challenges related to its rapid growth and changing accounting and legal requirements.
Fannie Mae senior management sought to interfere with OFHEO’s special examination by directing the Enterprise’s lobbyists to use their ties to Congressional staff to improperly generate a Congressional request for the Inspector General of the Department of Housing and Urban Development (HUD) to investigate OFHEO’s conduct of that examination and to insert into an appropriations bill language that would punish the agency by reducing its appropriations until the Director of OFHEO was replaced.
Franklin Raines, along with Fannie’s former chief financial officer and Fannie’s former controller, settled out of court and agreed to pay fines totaling about $3 million. Raines also agreed to donate the proceeds from the sale of the $1.8 million of his Fannie stock and to give up stock options. Fannie Mae paid a fine of $400 million.
Goldman Sachs played a pivotal role in all of this. According to OFHEO, one of the major vehicles Fannie used to hide its loses (e.g., “shift earnings into future years”) was a Real Estate Mortgage Investment Conduit aka REMIC:
In fact, Goldman Sachs described the proposed transaction (i.e. use of REMIC) in a November 19, 2001 presentation to Fannie Mae. David Rosenblum, a Goldman Sachs managing director, attached PowerPoint slides for the presentation to a December 3, 2001, e-mail to Mr. Niculescu. Mr. Rosenblum referred to the project as “Project Libra.”
So we are asked to believe that the former CEO of Fannie Mae who is now sitting on the board of Goldman Sachs is completely unaware of using REMIC to hide Fannie Mae losses? Wouldn’t you expect someone with so much knowledge about Fannie Mae to have the least bit of concern about the possibility of accounting mischief? These are questions that have not yet been fully explored or vetted.
Oh yes, if you are going to sell Fannie Mae market securities what bond index do you use? How about the Lehman Brothers U.S. Aggregate Index. Sure helps to have a tie with Lehman Brothers through James Johnson as well.
One more note about Franklin Raines. The Obama campaign can insist he is not an “official” advisor, but before the market blew up Raines was described in the Washington Post on 16 July 2008 as “taking calls from Barack Obama’s presidential campaign seeking his advice on mortgage and housing policy matters.”
But Fannie Mae was not just “selling” mortgage securities. It was also using its financial power to advance the agenda of the Democratic Party. We have the video evidence here:
And you can read the details of how Fannie Mae also steered money to ACORN, one of the vehicles Barack has used to boost his career. Carl Horowitz did an excellent piece for the American Spectator (I know, but truth is truth).
Finally, I leave you with this. If you think West Virginia should be ridiculed as a place where incest thrives, think again. You obviously know nothing about Washington and New York. This piece from 2007 in investor village helps you understand the inbreeding that is the festering stew of Washington. This is not friendly territory for John McCain. It is a place that loves Barack Obama. And after you read the following you will understand better why the boy from Chicago is getting a heap of cash.
The analysis of Joe Stocks:
Goldman gave us Robert Rubin, former Chairman of Goldman. He is the gentleman President Clinton called on to be Secretary Treasurer of the United States in 1995. During his tenure he orchestrated the bailout of Mexico, Asia, Long Term Capital Management, and Y2K. He is no stranger to moral hazard. His actions show that he actually embraced it. I think he was also responsible for Federal Reserve Chairman Greenspan to change his ways. After Greenspan uttered those famous words - “irrational exuberance” and knocked the equity markets for a loop in 1996, Greenspan became much more respectful of those that kept him in power. I thought that Greenspan meant what he said at the time with strong foundation, but his actions afterwards where of a different tune. Enough so that he bowed to the whims of both the Clinton and Bush administrations, taking irrational exuberance to bubble proportions.
Goldman also gave us John Thain. John is now CEO of the New York Stock Exchange. Mr. Thain helped to complete the reverse takeover of the NYSE by Archipelago in 2005. As you may have guessed – Archipelago’s largest owner - Goldman Sachs.
Well, who is the current Secretary Treasurer of the United States? It is Henry Paulson, former CEO and Chairman of Goldman Sachs. Mr. Paulson took the reins in early 2006. Yet another Goldman guy.
Everyday the Federal Reserve operates an open market operation to add and subtract liquidity from our financial system. This is where the big NYSE member banks go to get additional funds. I can’t think of another person that may be more important to a financial firm like Goldman Sachs on a daily basis. I am sure the Federal Reserve looked far and wide for someone to run this very important unit as it oversees domestic open market and foreign exchange trading operations as well as the provisions of account services to foreign central banks.
They picked Goldman Sachs former Chief Economist, William Dudley. An ‘economist’ for a trading operation? I know, it doesn’t sound right to me but maybe he takes direction well. William took this post in late 2006.
World Bank, you ask? Who runs the World Bank? The President of the World Bank is Robert Zoellick. Mr. Zoellick spent most of his career working for various governmental agencies. No Goldman connection here? Almost. He resigned in June 2006 to join Goldman. After a one year stint of indoctrination of how things work at Goldman, and who truly butters his bread, he was appointed World Bank President in June of 07’.
So, former Goldman people are in place as the United States Secretary Treasurer, the head of the NYSE, the head of the trading operations at the Federal Reserve (an economist at that), and President of the World Bank. Big deal? It gets better.
Just after the 1987 stock market crash the President of the US signed an executive order forming a committee of government and private individuals to monitor the financial markets. This group was named the ‘Working Group’. We traders have nicknamed this group the Plunge Protection Team – the PPT. Their mandate was to make sure all steps were taken to make sure nothing like that crash would happen again.
In 1998 the financial world was shaken by the financial shenanigans of a hedge fund named Long Term Capital Management. ( ‘Long Term’ lol!) After which time the US President’s Working Group approached the major NYSE member banks and said, “hey guys, listen, we ain’t suppose to let things like this happen. You guys need to get your act together.”
These banks formed the Counterparty Risk Management Policy Group (CRMPG) The members are the top NYSE member banks, General Motors, a couple of hedge funds, and some well connected law firms and accounting firms. The group met and produced a document but was asked again in 2004 by the Working Group to come with more defined policy procedure. This effort resulted in the publication titled ‘Toward Greater Financial Stability: A Private Sector Perspective’.
Who was the leader of this group? Gerald Corrigan, Chairman of Goldman Sachs. Who was the transmittal letter addressed to at the opening of the report? Henry Paulson, then CEO and Chairman of Goldman Sachs, now US Secretary Treasurer. Who developed the policy? Well here is an excerpt from the transmittal letter; “I want to express to you my sincere gratitude for the time and effort devoted to this project by Craig Broderick who served as a Member of the Policy Group and the others from Goldman Sachs who participated in the project and are named in the Report.”
Link to the report; www.crmpolicygroup.org/docs/CRMPG-II.pdf
Here is what the CRMPG stated as their primary purpose; “The primary purpose of CRMPG II — building on the 1999 report of CRMPG I — is to examine what additional steps should be taken by the private sector to promote the efficiency, effectiveness and stability of the global financial system. As practitioners, the members of CRMPG II recognize that periodic financial disruptions and shocks are inevitable. However, the Policy Group also believes that it is possible to take steps that would be capable of reducing the frequency of such shocks and, especially, to reduce the risk that such shocks would take on the contagion features that can produce systemic damage to the financial system and the real economy.”
Again it appears the CRMPG mandate is to control the markets. How else are they to reduce the frequency of periodic financial disruptions.
CRMPG: “since we know that financial disturbances and even financial shocks will occur in the future, and we know that no approaches to risk management or official supervision are fail-safe, we also know that we must preserve and strengthen the institutional arrangements whereby, at the point of crisis, industry groups and industry leaders, as well as supervisors, are prepared to work together in order to serve the larger and shared goal of financial stability.”
We need to work together for financial stability? What does that mean for the public or retail investor? Obviously every trade has a counterparty. If these firms get in trouble with sub-prime loans, is it their idea to transfer that risk to the public to insure their financial stability and therefore the stability of the US economy as what they represent, as we can not have failing banks and a strong economy. But it would be acceptable to have a block of retail investors (small counterparties) suffering financial disruptions as long as it did not affect the general public or the greater good of the large NYSE money center banks?
Former Federal Reserve Chairman Greenspan acknowledges the CRMPG and their collective “eye” on the market in a speech he gave in 2002; “In today’s markets there is an increased reliance on private counterparty surveillance as the primary means of financial control. Governments supplement private surveillance when they judge that market imperfections could lead to sub-optimal economic performance.” Link to speech; http://www.federalreserve.gov/boarddocs/speeches/2002/200209252/default.htm
That leads me to Program Trading. Program trading ran about 16 to 19% of all shares traded on the NYSE from 1987 to 1998 when the Long Term Capital diabolical hit. Since that it has climbed to 65-75% of all shares traded on the NYSE.
The NYSE stock exchange issues a weekly report on Program Trading. For the week ending August 31st, program trading accounted for 73% of all shares traded on the NYSE. Now you will look at this report and see that it says 36.5%. What gives? Well, the NYSE formerly reported program trading as both sides of the trade. They did this for a couple of decades, or the inception of program trading. (Program trading is defined as a trade of 15 or more issues with a value over one million dollars.) Then in June of 2006, shortly after the Goldman guy took over, they changed the reporting to just one side of the trade. In addition, they deleted all past reports from their news archives. One day they were there, the next they were all gone. The old way of reporting worked for many years giving a more accurate summation of total program trading. I continue to use that number as it is more truthful. Link to recent report; http://www.nyse.com/pdfs/PT082707.pdfNow you may suspect who the top program trader is. Well, sometimes it is Goldman but lately it has been Lehman Brothers. However, if you look at program trades made as the broker being the principal and not acting as an agent for others, Goldman does indeed take the top spot. For the referenced report they accounted for 25% of all program trades made as principal. Looking farther we see that the top six firms accounted for 69% of all program trades, or 50% of ALL shares traded on the NYSE. 50% of all shares traded in the hands of program traders of just six firms that are all members of the CRMPG, with the goal working together for the greater good? How would you like to be on the other side of those trades?
Again Greenspan in his speech of 2002 says it best.” To require disclosure of the structure of the innovative product either before or after its introduction would immediately eliminate the quasi-monopoly return and discourage future endeavors to innovate in that area.”
Quasi-monopoly returns! That, my friends, leads me to Goldman’s third quarter earnings release today. Earnings were up an eye-popping 88% from last year. It was as though Goldman was on the right side of every trade.
But how could this be? We saw the headlines;
‘Goldman’s Exclusive Hedge Fund Drops By 10%’
‘Goldman hedge fund falls 22.5 pct in Aug’Well, you see, Goldman doesn’t manage OTHER peoples money quite like it manages it’s own.
From the report - Asset Management (money they manage for others), Goldman: “Asset Management net revenues were $1.20 billion, 31% higher than the third quarter of 2006, reflecting a 40% increase in management and other fees, partially offset by lower incentive fees.”
Lower incentive fees? Fees were down 52% from last year. Incentive fees reflect doing a good job. Looks like their performance was lacking from last year.
Goldman: “During the quarter, assets under management increased $38 billion to $796 billion, reflecting money market net inflows of $31 billion, non-money market net inflows of $19 billion spread across all asset classes, and net market depreciation of $12 billion, reflecting depreciation in equity and alternative investment assets, partially offset by appreciation in fixed income assets.”
Increase of $38 billion. That’s a lot of money but still just 5% increase. But with $38 billion in net inflows after depreciation it appears that they had negative organic return on the assets that manage.
All on all, the money they manage for OTHERS had a bad quarter.
Now look at their proprietary trading unit – THEIR money. Trading and Principal Investments were $8.23 billion, 70% higher than the third quarter of 2006. Equity trading revenues were up a mind boggling 154%. This is in quarter were we saw a rough drop of about 3% in the S&P500.
Goldman: “Significant losses on non-prime loans and securities were more than offset by gains on short mortgage positions.”
They shorted mortgage positions with THEIR money! Shorting mortgages – a bet that citizens will default on their loans and possibly lose their homes. Goldman made money when things were good by pushing these sub-prime loans, now they win again when they go sour.
OTHER peoples money (OTM); NEW YORK, Sept 13 (Reuters) – “Goldman Sachs Group’s Global Alpha hedge fund fell 22.5 percent in August on losses from currency and stock trades, Bloomberg News reported, citing an update sent to investors.”
Goldman has the largest collection of hedge funds in the world. How is it that they receive 75% of their revenues from trading, but the hedge funds they manage for other people’s money under-perform the returns Goldman receives on its OWN money? When Goldman’s hedge funds are long sub-prime, why did not the shorting of mortgages strategy that they used for THEIR money save some of the OTHER people’s money? Trading is a zero sum gain. Did Goldman need someone to take the other side of the trade?Greenspan said this in the same speech above; “Most financial innovations in over-the-counter derivatives involve new ways to disperse risk. Moreover, our constantly changing financial environment supplies a steady stream of new opportunities for innovation to address market imperfections. Innovative products temporarily earn a quasi-monopoly rent.”
I think everyone would have to agree that Goldman has been very innovative in benefiting from market imperfections. They place their former executives in high positions of public power. They manage the CRMPG that allows them insight into the inside workings of their competitors. They have been aggressive in their managed hedge funds by establishing a counter-party to their trades. They certainly are getting their share on THEIR money with “quasi-monopoly rent”.
And they are getting paid well to do it.
Goldman: “Compensation and benefits expenses were $5.92 billion, 68% higher than the third quarter of 2006” The number employees increased only 7%. Nice raise guys!
So how does Goldman get away with this? Obviously the influence peddling is there. Why is the financial community of the slightly less connected not out there screaming about the potential for collusion and manipulation by these large member banks with their CRMPG association? Trading is a zero sum game. Why are so many willing to take a bullet for Goldman on an un-level playing field?
I just read a commentary from Bill Bonner expressing some of what I mention here. He wrote this after a similar stunning Goldman report in June of 06’;
“Well, how is it possible that a company like Goldman – with thousands of traders – can make 75% of its revenues from trading? You’d think their lucky trades would be balanced out by their unlucky trades. They can’t all be lucky. And they can’t all be geniuses. As Buffett says, there aren’t that many geniuses around.”
“Or to put it another way, here’s a company making billions, mostly by trading. Who’s on the other side of these trades? Who’s losing? Where does the money come from? How is it possible for so many traders to have a result that is so far beyond equilibrium…it seems to defy gravity.” Bill BonnerSo why do I care about all of this?
Greenspan (same speech) said this; “No one can deny that fully informed market participants will generate the most efficient pricing of resources and the most efficient allocation of capital. Moreover, it could be argued that, if all information held by individual buyers or sellers became available to all participants, the pricing structure would more closely reflect the underlying balance of supply and demand. Thus full information would appear to be the unambiguous objective. But should it be?”
“But should it be?” Hell yes it should be. Fully informed market participates is central to a free market. Allowing Goldman and the CRMPG, with the blessings of the Federal Reserve to sway the markets in the direction that benefits them most, in the name of financial stability is a bullet to the chest of capitalism. Who was Chairman Greenspan helping when he suggested adjustable rate mortgages at interest rate bottoms? Some kind of innovative sub-prime scheme perhaps? The time to save our free markets is now. The complacency bullshit needs to stop!
(small, medium and large sizes; for both dogs and cats)
+ 
Excellent post Larry. Obama supporters and the Obama-Media want to distract the American public–the voters from the truth because they are lying, immoral pieces of TRASH.
you need to prepare a flow-chart with all the names/affiliations and problems so the incestual relationships would be crystal clear.
McCain’s econ plan written by Phil ‘father of the Enron Loophole’ Gramm.
Gramm said US only has ‘mental recession’; called Americans “whiners.”
In other words, Barack is receiving $273,582.25 (and 2008 is not over) per year while McCain raised a paltry $30,532.44.
Why would they waste their donations on an unelectable loser like McCain?
Barack Obama ‘03-’08: Goldman Sachs donated $689,280
Hillary Clinton ‘03-’08: Goldman Sachs donated $662,220
According to Larry’s ‘analysis,’ Hillary’s relationship with Wall St, is just as suspicious as Obama’s.
Right, Larry?
Goldman Sachs gave Hillary that kind of money because Bill Clinton’s fomer Treasury Secretary Rubin is again at the helm of Goldman Sachs. There is nothing suspicious about someone who has been in elected office, or been in public service, for YEARS getting some scratch. What is suspicious is some no body with 189-days in the Senate getting that kind of scratch…..
Compare years of service and FULL-TIME employment and you will see that the monies given to Hillary pale in comparison when broken down on a yearly basis.
She is US Senator for the state of NY. This is a constituent employer for her home state and one of NYs most important industries. The question is why so much to a very junior from Illinois.
i thought all senators made a congressional salary to do their jobs.
They know all that Elliot. Deliberately obtuse, anyone?
I think this is a fair question, and one I would have asked — at least I asked it to myself. Hillary also has gotten money from other suspect financial players.
I do not view any candidate as perfect. Far from it. What I do is analyze each candidate according to a variety of issues. Using an old matrix I learned in college and high school, one can analyze an event or situation using PERMITS analysis — political, economic, religious, military, intellectual, technological, and sociological.
So for each candidate, I grade them according to how I think they would perform. Hillary is not a messiah. Nor is McCain. And Obama is not the antichrist.
(Note: if people who talk politics classify everything candidate A does as wonderful and candidate B as horrible or evil, stop talking to them. They are dualistic thinkers and incapable of rational discourse.)
I will not bore you with my ratings, but suffice to say that if Hillary were running she would be my first choice, despite her suspicious lobbyist connections. Taking money from any group is not per se disqualifying. It must be analyzed along with other factors such as (a) are there multiple sources of suspicious money? (b) are there multiple associations with bad people? (c) What are the candidates’ actions like, etc., public votes. In other words, suppose someone takes money from trial lawyers. So what? It is only important as part of a pattern. And one must understand why the money was given. Wall Street types give money to candidates who will enrich them, or, and this is a big or, will stabilize and grow the economy. But Obama’s associations with Johnson and Raines suggest more of the former rather than the latter.
McCain would be my second choice, because he knows foreign policy and the military. He is respected by the military. As is true of Obama, I think he knows little of technical economics, but Obama also is deficient in that regard. Where McCain shines is that he has an intuitive grasp of economics, particularly in the government waste sector. He understands how bloated government policies do nothing to create wealth, and in fact retard it.
So, yes, I am troubled with Hillary’s Wall Street connections — they are about on a par with Obama’s. And Obama has some good points going for him, mainly his overall intelligence. But using the PERMITS matrix, it is easy to see that Obama flunks several categories. Politically, he wallowed in Chicago politics and never questioned the Blago regime. He has doubtful associations by the bucket full. Economically, he has no training or intuitive grasp — I’ve seen his programs and they are the same types that didn’t work in the Great Society. Religious — this is interesting because I do not think he is religious at all. I surmise that he joined Wright’s church because it was politically expedient and because its political message (including the racially charged parts) jibed with his.
Getting back to Hillary — in a McCain-Hillary race, I would be troubled by her dependence on bad guy lobbying money, but her consistent public votes and efforts to improve people’s lives outweigh this taint. And McCain would get the nod on budgetary issues — though remember that it was Hillary’s husband who saw the importance of a balanced budget and it was an object he pursued through specific policies. I suspect she’d be like Bill in that regard.
Enough. Final grades, Hillary A-, McCain somewhere between a B and a B+, Obama — a mixture of high and low grades that leaves me troubled. But no more than a C+.
There is the issue that most of these institutions are located in New York City versus, say Chicago … just a thought ….
At this point it is obvious that democrats are not strictly from the “good party.”
Now, at this point, Hillary is gone.
It’s only McCain and Obama to study.
The main point is that McCain is running on a message of reform, stopping easteful spending, and cleaning up Wall street and Washington, and clearly he seems to be the one with the record and NOT Obama who also said he was going to change things in Washington and Wall Street, but clearly…Obama is ALL TALK.
McCain understands telecom better than any one else in Congress.
lol, he does
http://mccainsource.com/corruption?id=0015
Progressive propaganda… that site is one left wing answer to Rush.
NomNomNom, that site is a reflection on what is happening to the left, and why many of us are standing up for the truth.
I can’t believe that people come here and say we lie and then give us links to a smear machine.
We are sick and tired of the corruption in our government, from BOTH parties. Big business will not run our country! WAKE UP!
Hell will freeze solid before I vote for BHO. I was and remain a Clinton supporter. But McCain is Keating 5. He is not clean: he and his advisors are neocons attempting to embroil the US in a cold/sometimes hot war with Russia over resources.
Check how early he wanted to station US troops in Georgia ostensibly because al Qaeda was in Pankisi Gorge (they were not); in reality to train Georgians to guard the other end of a freaking pipeline and establish another US military base abroad. The first end is in Iraq. This pipeline will run through Kurdish settled Turkey and through Iraq, it will have links to Israel and to Kuwait and UAE. Now think Mccain: supporter of Dubai Ports World and Bush. Look on a map and see how it will connect to Afghanistan. We are looking at the formation of a new Kurdish nation in what is presently Turkey, Iraq and Iran. Look to see a future dustup in Turkmenistan where Russia just achieved some leasing.
Now go to AK and look at the pole land we would like to drill for oil and gas but can’t under legal international law because we won’t sign off on the 11th amendment of UNCLOS4, even though Russia (and about 99% of the world) has and the UN will certainly back their claims as a result. I don’t think something like a law we won’t thoroughly recognize is going to stop us, somehow. You do know we don’t have enough icebreakers to even start don’t you? Look up how much one costs and ask who you think will foot the freaking bill.
Ask yourself who installed Palin to give out 3000$ handouts to a state that already gets more per capita aid than any in the nation in oil/gas subsidies and hyped her profile. That sure helps AK stay red. Do you understand that it will take trillions of dollars to develop the infrastructure necessary to claim these new reserves of oil and gas and that taxpayers will pay for it under the guise of drilling to reduce our gas prices? When was the last time enriching oil and gas companies worked to our benefit?????
ugh, I don’t want any of these clowns. I want Clinton back or even Ron Paul!
I’m voting McKinney. If the Greens can get 5% of the vote they will qualify for federal funding same as the dems and repubs. We need alternatives and we need them now.
Hillary has left the building. OWN YOUR SHITTY CANDIDATE! No more deflecting. No more changing the subject. No more blaming somebody else. You gave this sack of crap to us, NOW OWN HIM! Somebody has to because we want NOTHING to do with him.
Apples and oranges….
I see that your dumb ass can’t distinguish between a former First Lady/two-term U.S. Senator and a junior U.S. Senator who has yet to complete his fourth year of service.
Hillary and McCain have been in Washington alot longer than Obama, so it’s expected for them to receive big contributions over a period of time (though not necessarily justified.) They’ve put their time in. Obama hasn’t.
No matter how you try to spin it, it is HIGHLY suspect for Obama to be receiving such HUGE contributions from these corporate giants as a newcomer to the national political scene.
Genius, Obama was running for Pres. too. He is a newcomer but could be President. If he hadn’t been running his donations would have been paltry. So would Hillary’s in comparison to what she got this election cycle from GS.
Oh and by the way, the DIRECTORS, OFFICERS and LOBBYISTS for Fannie and Freddie gave 10-1 for McCain. The average employees gave more to Obama.
True that Obama received much more from average everyday Fannie Freddie employees but when you look at just Officers, Directors and Fannie Freddie lobbyists, it’s McCain $169,000 and Obama $16,000. Granted that McCain did call for reform of the GSEs a while ago.
http://graphics8.nytimes.com/images/2008/09/10/us/politics/10fannie.graphic.jpg
http://www.nytimes.com/2008/09/10/us/politics/10fannie.html?_r=1&oref=login
You’re a real comediene aren’t you? Nobody could be as dumb as you are acting. You damned WELL know why he received more money. The beholding deal is sweeter. So cut the crap.
It’s called intentionally obfuscating:
True that Obama received much more from average everyday Fannie Freddie employees but when you look at JUST Officers, Directors and Fannie Freddie lobbyists, it’s McCain $169,000 and Obama $16,000. Larry left those numbers out of his tally.
http://graphics8.nytimes.com/images/2008/09/10/us/politics/10fannie.graphic.jpg
http://www.nytimes.com/2008/09/10/us/politics/10fannie.html?_r=1&oref=login
That’s usually called cherry-picking. You exclude donations from some sub-group to come up with the spin you want. Just look at the totals of everything from Fannie and Freddie. That’s the only fair approach, especially considering what was excluded to come up with this spin.
It’s called intentionally obfuscating:
True that Obama received much more from average everyday Fannie Freddie employees but when you look at JUST Officers, Directors and Fannie Freddie lobbyists, it’s McCain $169,000 and Obama $16,000. Larry left those numbers out of his tally.
http://graphics8.nytimes.com/images/2008/09/10/us/politics/10fannie.graphic.jpg
http://www.nytimes.com/2008/09/10/us/politics/10fannie.html?_r=1&oref=login
Everyone listen. If you believe Obama violated the Logan act go to this link. It’s so easy to voice your concern. We have set up this petition with (www.rallycongress.com).
http://www.rallycongress.com/americansentinel/1223/a-call-for-hearings-into-senator-barack-obamas-violation-of-the-logan-act/
Note: use the “send for free” option.
Yes…. a flow-chart would be nice to expose this cesspool.
use silobreaker
Agree; this whole thing should be diagrammed.
MG - PUMA
Patrick Fitzgerald does that well.
A flow chart is a great idea, Larry!
This was a most useful, prophetic post of what awaits the obamyopics….
Larry, great work. This is exactly the kind of extensive, detailed post we need to help wake America up to the economic disaster that is Barack Obama and his cadre of advisers, including Frankie Raines and Jim (no relation) Johnson. Thanks, Larry.
Here is some more straight talk about the economy, and Barack Obama’s flaccid positions on same.
McCain discusses the economy in Green Bay, Wisconsin — 9.19.08:
Part 1
http://www.youtube.com/watch?v=61CJhBh7mqc
Part 2
http://www.youtube.com/watch?v=u3-2b2kaTas
Part 3
http://www.youtube.com/watch?v=oFJp5VHM0_o
I also wanted to pass along, and invite others to join, myself and my brother on the Salute America radio show (hosted by ‘Wild’ Bill Lindley) later this afternoon. We will be appearing around 3 PM Eastern Time and staying on throughout the 3-4 PM hour.
Our participation in the program was brokered by clintons4mccain founder Cristi Adkins, and I want to thank her for giving me the opportunity to help spread the good word of opposition to Obama.
Here is the link to listen to the show live:
http://www.talkradiotoday.com/salute_america.htm
If you would like to call in and participate in the program, here is the toll-free number:
1-877-958-5850
I hope some of the No Quarter crew can call up and have their voices heard during the program. Like many of us here, Lindley is a Democrat who will not be backing Barack Obama. A big ‘thank you’ to him for helping give voice to Cristi and many other PUMAs.
Hope you get a chance to check it out and/or call up and be on the show.
NObama. Country before party.
Thank you Paul, I specifically look for your posts.
Best,
MG - PUMA
Obama will end up bringing the whole democratic party down with him. What a joke the democratic party has become.
Nobama!!!
there is a very good article in today’s Outlook section of the Wash Post that makes just this case about the crisis having been created by the investment banks with the complicity of Congress, who have been received millions in contributions from the investment banks they were supposed to regulated, but didn’t. and Greenspan’s role in facilitating it by lowering the interest rate to historic levels to allow the housing bubble to continue. it doesn’t name barack but it fits right into this point.
http://www.washingtonpost.com/wp-dyn/content/article/2008/09/19/AR2008091902808.html?hpid=opinionsbox1
Address: Oakhill House,
130 Tonbridge Road,
Hildenborough,
Tonbridge,
Kent TN11 9DZ,
United Kingdom.
“RELATIONSHIP ESTABLISHMENT & DEAL NOTIFICATION”
I am aware that this is certainly an unconventional approach to starting a relationship but I believe knowing each other starts from a step of which I believe I am not making a mistake exposing this very important business deal to you?
Firstly, let me identify myself without any intention of equivocation, I am Mr.Graham Houston, Financial Expert worked with prime Banks here in United Kingdom, I will be happy if we can do business together in good faith and this proposal will be of mutual benefit for us. I have a transaction deal in the tune of £760,000.000.00-[Seven Hundred & Sixty Million British Pounds Sterling} to be transferred to any possible safe account with your good assistance. I have every possibility & advantages for the proceeds of this account to be paid to you and then both of us can share equal percentage meaning 50% for me and 50% to you. I am really serious” can I trust you on this subject matter?
I had discussed this issue privately with the Top Bank Director and he agreed to help and have instructed me to look for a foreigner who can be trusted and capable to handle this transaction so that we can secretly move this money out from UK immediately basing on Investments plans in your Country. I guarantee that this will be executed under a concrete special arrangement that will protect us from any breach of law. I will not fail to bring to your notice that this transaction is hitch-free and you should not entertain any fears as the required arrangements have been made for the completion of this operation.
This money was secretly deposited and placed for an Investment before the late holder died and none of his families or relatives knows about this money, I came across this great fortune during an annual pre-audition. If you can be trusted and capable to handle this business with me in full confidence & trust, please send me the following information for documentation preparation and also give me your word of confidence that we will work as one team and I will get in return what belongs to me after successful transmission this operation :
(1). Full names:
(2). Private phone numbers:
(3). Current residential address:
(4). Occupation:
(5). Age and Sex:
{6}.Your Full Banking Coordinates as follows.
Bank Name:
Bank Address:
Account No:
Account Holder’s Name:
More Information about yourself ETC.
I look forward hearing from you.
Kind Regards.
Mr.Graham Houston,
Larry,
I always read your posts-will read this one too ,tomorrow morning. Too tired right now to concentrate.
I do want to pass on a link to a VERY interesting-and not necessarily off topic article…
http://blogs.tnr.com/tnr/blogs/the_stump/archive/2008/09/21/obama-s-early-voting-advantage.aspx
Obama’s Early-Voting Advantage 9/21/08
TNR
An excerpt…
Unfortunately, several states now let people vote weeks before Election Day.
As Amy Sullivan (my wife) notes in her recent piece on the subject, Virginia allowed some people to start voting last Friday, and half a dozen states kick off early voting next week.
So a non-trivial portion of the electorate could end up casting a vote before there’s a single presidential debate.
It’s ludicrous.
Having said that, I can see this preposterously early voting benefiting Obama.
For one thing, he gets to start locking in votes while the financial crisis is topic A and has voters fleeing the GOP.
Second, he gets to lock in votes before a possible October surprise–whether it’s a national security crisis ginned up by the White House or some below-the-belt ad from McCain (probably Wright or Ayers related).
Third, mechanical changes like this tend to favor the better-organized campaign, since they’re in a better position to exploit any new opportunities.
That’s almost certainly the Obama campaign in this case.
I’d guess Obama will do a better job identifying potential early voters and getting them to the polls,* which, given the extremely long early-voting window, could result in a significant advantage.
*More precisely, I’d guess Obama will have a bigger organizational advantage over McCain in early voting than he will on Election Day, though I’d expect him to have an advantage in both cases. ”
I had no idea voters could vote early like this.
I am disturbed by the fact that if controversial/illegal news comes out after these early voters have voted-they cant take their vote for Obama back.
also-take alook at Obama’s latest false attck on MCCain & Social security…
http://blogs.tnr.com/tnr/blogs/the_stump/archive/2008/09/20/obama-s-devastating-new-ad.aspx
Excellent post Larry - superior.
I very much liked seeing John McCain’s stronger attack while stumping yesterday. Can’t remember his words specifically, but he used a lot more emotion and power in his (truthful) accusations. He’s trying to hold him accountable.
Too bad the MSM goes out of their way to do the opposite.
“Well, who is the current Secretary Treasurer of the United States? It is Henry Paulson, former CEO and Chairman of Goldman Sachs. Mr. Paulson took the reins in early 2006. Yet another Goldman guy.”
Obama hearts Paulson…
http://blogs.e-rockford.com/applesauce/2008/09/19/obama-supports-paulsons-efforts-calls-for-emergency-economic-plan/
Here is a synopsis of the video:
http://news-cycle.blogspot.com/2008/09/obama-backs-paulson-and-bernanke-on.html
This is something I find suspicious… from July 29th.
http://www.reuters.com/article/topNews/idUSWAT00986220080729?feedType=RSS&feedName=topNews
It is a coincidence that all this economic stuff should come to fruition when McCain is starting to take the lead.
Does it seem suspicious to anyone else? How handy for the democrats.
Did anyone watch Stephanopolis this morning. I thought that show was interesting. Are there any commenters out there?
He was on his hands and knees in front of nobomba before the show
Yes, it seems very suspicious. The Obama Democrats are even more gleeful over the financial failures than they were over the hurricane knocking on New Orleans doorstep at the beginning of the month.
But as Larry says,
“Although the conventional wisdom wants to pin the Wall Street debacle on Republican greed, the reality is that the real estate market and the big players on Wall Street have been a Democratic game.”
The talented Republicans video makers really have to drive this point home. There seems to be a lot of material to work with to incriminate Obama and the rest of the Democrats.
I don’t know much about finances, but Senator Dodd smells very bad to me. I also suspect that these Wall St types are aware of all the dirt on Obama, which makes the whole lot of them even more filthy. McCain should not pull any punches in going after Obama and Wall St.
Early voting TRULY scares me. I didn’t like it in the Primaries either. Things change up to the last minute which can affect one’s vote. I don’t think EARLY VOTING should have ever been adopted.
Absentee I understand - but early - NO.
Early voting is Barack Obama’s way of locking in votes before some shit hits the fan. He could be caught naked running down the street and early voters can’t take their votes back.
How many people do you know who voted for him in primaries before they figured out he was a pig in a poke? Ooops! Too late.
I agree about early voting.
Talk about low-information voters.
The democrats love early voting. It allows them to vore much more often than they used to be able to.
i just dropped my son off at a college in PA, where before the day was out he was greeted by someone trying to get him to register to vote in PA, even though he is already registered in his home state. the person encouraging him to register was a young man, except he looked older than the other college kids. he suggested to my son that because PA was a swing state he could really make a difference and that way, the young man said, your parents won’t have to send you an absentee ballot. it occurred to me that a long of college students may be voting in two states. i assume it is way too difficult for anyone to monitor such things, right?
Good post, and thank you for the reminder, of what I consider to be one of the biggest set ups for voter fraud, that will hit this election.
Not a good idea for these folks to try and register students that way. A student who is listed as a dependent, will become an “independent” student should they register in a state away from home, possibly losing or changing their status of financial aid; also the parents will not be able to claim that student on taxes, as they become independent. Second, this is going to be a problem causing any student who may register in both places, to have their votes nullified, as double registration can disqualify a voter.
You are exactly correct in your concern over college students ending up voting in two places, I foresee some doing a early vote to their home state and a live vote at the campus state location. If this happens and is hopefully caught, the votes are tossed. The persons doing this registration should know better and know the laws regarding financial aid, tax status change and residency requirements for students to vote local at an away from home campus. I actually believe and have seen some blogging on the O campaign blog site encouraging this type of voter fraud. It is a way to skew the polls early, and try to sway the vote, but the ramifications it will have are going to be hard on the young voters, perhaps losing future financial aid, screwing themselves out of their college education because of a double vote, or status change and possibly devastating to their families, depending on tax credit for depdendent
students. O has thrown the college voters, under bus number 25.
Apparently state standards for regulating college student eligibility are still being hammered out in many jurisdictions. And without a national voter database to crosscheck combined with efforts to maximize student turnout I doubt very much double registrations can or will be challenged unless and until it effects the outcome of the race.
http://www.timebomb2000.com/vb/showthread.php?referrerid=&t=302399
I live in a small college town and student voting brokered by sleazy slumlords got a couple of crooked city council people elected. The slumlords sent out threatening letters to the students who rented from them,saying they would not have a place to live if so and so did not get elected.The students used one of the campus buildings as their address, and the election officials (who had to know it was not a valid address) just don’t give a rats ass enough to check their licenses. My faith in voter fraud being detected and the right thing being done is about zero. It is truly amazing how corrupt our political system is right down to local small town–and how city council people and small town mayors have so much power.
There’s no national voter registry.
Mr. Natural, I disagree. We both know that the Dem’s and Repub’s have very good national databases that not only have the party affiliation, but what cereal I buy at the store.
Keep on trukin’…
I also don’t understand the clamouring need for an early voting option, at least at the point most Americans are only beginning to tune into the process. A week or so before election day would be considered reasonable, as a pressure release valve of sorts to minimize the impact of long lines, possible machine malfunctioning, etc.
But from what I’ve read those who vote early do tend to be most partisan, have their minds already made up and would be unlikely to be impacted by the debates. Hopefully the selection of Palin will have put the conservative/evangelical organizing network into high gear. Obama does have an outstanding ground game and there is still time for some of that to be made up on the Republican side.
Virginia has criteria that voters must “meet” before early absentee voting is allowed. You must swear in writing on your application for a ballot that you cannot be at the polls due to out of town travel, a job that requires you to work 12 hours, care of an infirmed person, etc. Not just anyone and everyone gets to vote absentee. While its called absentee, you can actually go in to the registrars office to cast your vote early IF you have been deemed ok to get an absentee ballot.
Yes Clara, most states don’t allow absentee voting, just because you want to, we can’t, even as students here in TN. Our absentee ballots are based on physical ability to get/or not to the polls~lack of transportation, physical limitations, jury duty, military duty, and restrictions of politicians, voting absentee as well; other reasons I haven’t listed. I think the push for this is to get a twitch in the polls to favor O, then try to swing the election on those polls, poiting to them as majority, when they are not.
Also, I think many voters forget, if you are working, per federal law, and you have not been able to get to the poll because of your shift(those who are on 12+ hour shifts)your employer must allow you to go and vote during work time.
These days there is a difference between ABSENTEE voting and EARLY VOTING. Early voting is a relatively new phenomenon. In the states that allow it, you do not need to affirm you will be out of town or ant other reason for an absentee ballot. Early voting is just allowing any and all people to vote early if they wish. It was designed so that folks don’t have to stand in long lines.
I agree, early voting is a bad idea. I think voting is a community event an American event. We all go to the polls on a set day and show our support for democracy. Allowing early voting is just another way America is forgoing community. And now I also see it as a way to encourage voter fraud. Bad idea all the round!
ELECTION DAY SHOULD BE A PAID, NATIONAL HOLIDAY
I can’t understand that! Why on earth are these states allowing the votes to happen THIS early?? Early October I can understand but now? I hope the McCain camp are on this to ensure nothing shady happens.
Obama and corrupt Wall Street: thick as thieves…literally.
Remember Obama’s whole thing: Blah blah blah Wall Street…special interests…old Washington.
LIAR!
Obama is opposite man. Pay very close attention to what he accuses his opponents of because it is almost ALWAYS the truth about him. Also, pay attention to much of what he says, the truth is usually the polar opposite. What he says is almost never what he did or continues to do.
Obama is Opposite Man.
I PITY Obama supporters. Clueless. And if they do know the truth but avoid accepting it, I PITY them even more.
If Barry wasn’t a paid for tool of Wall St, the press would not love him as much as they do. Whoever the press wants, is the wrong choice. …without fail
Yep!
Whenever the MSM supports a candidate, I automatically DON’T SUPPORT THEM.
The MSM is just as rabidly in support of Obama just like they supported George W. Bush. And that is a seriously BAD SIGN.
The warning signs are all there about how corrupt and two-faced Obama really is. It amazes me that, after seven years of complaining about our current President, the Dems have created their own version. Not ready to lead. A uniter not a divider (in slogan alone). A Washington outsider (because he’s too ingrained in Chicago politics). And the guy you would have a beer with (here they do differ from the Repubs choice. The Repubs asked the blue collar worker who they’d like to have a beer with, the Dems apparently asked a couple of college kids. I guess that is some kind of change). He [Obama] panders to his radical base and the media praises him for it.
Posted here is yet more proof of the glaring problems, and yet I have no confidence that the media will do it job in sniffing it out. I actually distrust them more then the government. It’s such a shame really.
Exactly!
RED FLAGS are all over the place warning us about Obama. You can’t miss them.
Haven’t caught up with all the articles here yet but I’ll try to today.
Off Topic:
Strangest thing just happened. I did a google search for “ny post obama iraq” to find articles on the subject.
Here’s the stunning result at the head of the page exactly as it appeared:
Results 1 - 10 of about 666,000 for ny post obama iraq. (0.15 seconds)
Good thing I am clinging to my religion.
WHAT ARE THE ODDS OF THAT???
I’ve been using a computer for decades… bone chilling.
creepy
“Results 1 - 10 of about 666,000 for ny post obama iraq. (0.15 seconds)”
Insert Twilight Zone music here…that is ironically creepy or creepily ironic. (LOL)
yi yi yi yi….. shiver
It seems like a lot of corrupt Wall Street types fear McCain, and thus donate a lot of cash to Obama. Hmmmmm…..
exactly……
because he can be manipulated……
Obama wants to expand “No Child Left Behind” and charter schools….
you mark my words….
now that the bottom has fallen out of the sub-prime mortgage industry, these Wall Street types are going to start looking at new avenues of investment and money creation….
They would be “for profit” charter schools funded with money ear-marked for “public” schools…
One need only to look at Bush’s own brother Neil. Neil brought Silverado Savings and Loan down and then he created a new job for himself “educational software” developer….
After Katrina, remember the big stink when old Barbara Bush donated money to Katrina, under the proviso that it had to be used to outfit schools in the Gulf Coast with her son’s software?
Well…who has one of Bush’s big donars helping him out this election cycle? If you guessed McCain you would be wrong. In fact it is Obama!!
Bush has a brother who brought down a savings and loan.
Obama has a campaign chair [Penny Pritzker] who, if he wins, stands to become Treasury Secretary. She and her family still owe the Federal Government $400 million dollars.
Who has a former terrorist [Bill Ayers] spuring his political and “social reconstruction” plans? Yeah that would again be Obama.
Education is the new “money-maker” for these guys
They will send their own children to Phillips Exeter, Andover Prep, and Groton and then onto one of the Ivy Leagues, while the nation’s non-elites get educations that consist of teaching them to take a test and nothing more…..
Mindless drones are easily controllable!
eurogirl,,,,,
your description of power/money mongering moving more into the education sector is kind of chilling.
where else does one have such great power to manipulate the future.
the architects of the new world order send their kids to elite schools and colleges and then into the system of privilege perpetuation they have set up for them and theirs.
the drones will continue to serve them until they are no longer needed.
it’sd been going on for some time now….switching from dem to repub and on and on.
Big business fears McCain, period. Big business owns the media. Google Time-Warner and GE and see how far into our lives they have insinuated themselves. So the fact that they never vetted Obama, that they are now not even trying to hide their biased support for him shows me just how much they fear McCain. Just another reason to vote for McCain and take back my country.
Big business privately vetted Obama and found him completely controllable… That is why we do not hear the truth about him in most the media outlets.
I no longer think that “biased” is a word to describe the MSM in this country today. I really think that “criminal” more aptly reflects their obvious attempt to pick our next POTUS.
Babs -
I agree with you 110%. Their behavior truly is CRIMINAL.
As a matter of fact - can’t we just go ahead and ship Olberman, Matthews, Cooper, Andrea Mitchell and Campbell Brown to Guantanamo now?
Screw “Due Process” - they’ve screwed with the meaning of the 1st Amendment - not to mention screwing with the democracy of America.
Is the word conspiracy to strong? ….
Definitions of conspiracy on the Web:
* a secret agreement between two or more people to perform an unlawful act
* a plot to carry out some harmful or illegal act (especially a political plot)
* a group of conspirators banded together to achieve some harmful or illegal purpose
wordnet.princeton.edu/perl/webwn
1. the act of conspiring.
2. an evil, unlawful, treacherous, or surreptitious plan formulated in secret by two or more persons; plot.
3. a combination of persons for a secret, unlawful, or evil purpose: He joined the conspiracy to overthrow the government.
4. Law. an agreement by two or more persons to commit a crime, fraud, or other wrongful act.
5. any concurrence in action; combination in bringing about a given result.
Corrupt comes to mind as well.
Media Mal-practice… Class action suit time!
America v the Media
Is this really an angle you think is worth pursuing? Like it or not, Americans have at least 4 or 5 concerns that rank much, MUCH higher than this ever will in the next 2 months.
Ate you saying that the economy and the economic meltdown is NOT a concern of the American electorate????? What issues rank above this???????
If you lost your home, or your savings, or have 401k of an IRA with investments in any of these companies this is your number one concern!
Does anyone not see a problem with FEWER banks and banks owning investment banks? There used to be anti-trade concerns. Now any insitution with money is being allowed to buy, buy, buy.
it really hard to believe that the vile Obama is walking around as a free man and not being arrested for something, he is so slimy it literally drips from him in sheets.
I think he will not end well, if not sooner then later, but it will end badly for him.
Because no one knows the things we know here and when something is put into MSM or in an ad, the public only hears the watered down version. Then, the OB campaign paints it as lies. Now think about what actually registers in a persons’s mind when they don’t take the time to really find out the truth? Most people are way to busy to see/read/hear the facts and only get the mainpulated sound bites. Headline readers and sound bites will influence the average voter all the time. I have presented facts and links numerous times to co-workers and maybe 20% ever look further or even listen beyond the first few sentences. Just doesn’t happen unless it is big time news splashed on TV or in newspaper headlines. My local papaer is famous for using negative headlines about Mc/Palin knowing that people won’t read much beyond that. Then they begin the real story about 2-3 paragraphs in. So they cover their butts when confronted about this tactic. This election will turn out just like the Dem primary, manipulated and stolen for OB unless something grabs the attention of the public against him. The ads aren’t going to do it. It has to be something big that forces it to be covered by the MSM. So far it hasn’t happened. I hope it does soon for all our sakes. Isn’t it interesting that nothing in the late-night humorist’s shows has been directed at OB or Biden, when both, especially Biden, have plenty of things to be made fun of? Manipulation anyone?
Links of interest:
19 Times Bigger than Enron, and the Networks Didn’t See It Coming
http://www.businessandmedia.org/printer/2008/20080716164710.aspx
YouTube - Barack Obama, June 5, 2007, Praising Rev. Jeremiah Wright
http://www.youtube.com/watch?v=qpzHQ_PC1uI
Obama 101 by Amir Taheri on National Review Online
http://article.nationalreview.com/print/?q=OWI3MDQyNGIwOTczMTU2YmI1NjE5OWMxMGJkYTQzZTg=
Thanks for the Obama 101 link. When is this coming out in the msm?
Unfortunately nothing will come to light unless he looses the election. Also if McCain does not get a huge Republican turnout it will be difficult to offset all the voter fraud.
athy: I believe early voting won’t make much difference. They had it here since 2004 and it made little difference for Kerry. Also you really think that VA is going for Obama. That the demographic changed so much in the last 4 years. Bush had a 10 point advantage over Kerry. There is no way the demographic change so much in the last 4 years.
The other day Donald Trump spoke out incredibly well for John McCain. Whether one likes him or not, Trump is an effective communicator; he knows HOW to simplify, pick out the nuts and bolts and target what the audience needs to hear.
This financial crisis is flying over the heads of most Americans (I don’t mean that disparagingly - it’s just a fact) but Trump’s position and abilities to put Obama’s hypocrisy in the spotlight would be phenomenal.
Right now - all this proof aside - the MSM is covering for Obama. But if Trump was on board with McCain, he wouldn’t let the MSM get away with it - he’s like a dog with a bone - and the media can’t resist him. Trump knows how to get the sound bites and that is what McCain needs in this financial situation.
McCain needs Trump on board now.
Does anyone have the transcript of this trump endorsement? Thanks!
This is what’s commonly referred to as a smokescreen, or a diversionary tactic. First, there is guilt by association. Bush used to fly around in Enron’s private jet, but that did not make him party to Ken Lay’s crimes. Maybe Obama is in wall Street’s pocket, maybe not - more likely, all the candidates are to some extent. We certainly remember when McCain of the Keating Five was in Charles Keating’s pocket, no? So let’s not deify him just yet. As to why it’s a smokescreen…
We are about to cede more than $700 billion to the Treasury Department where its use will not be regulated. This is word for word from the bill:
“Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”
In an act of supreme irony, the McCain/Palin/bush team is creating another meme, accelerated and intensified in echo chambers such as this one, making Obama the crony of big business and Wall Street. I guess you haven’t heard who McCain’s economic advisor is? Or about how McCain lavishly praised the deregulation of the financial system? Or, in a spectacular flip-flop. embraced permanent Bush tax cuts for the mega-rich?
Okay, maybe you haven’t heard, but these things re easy enough to find, if you want to find them. Meanwhile, I especially appreciated the comments above about how we need to elect McCain and “take back our country.” The sad news is that from 2002 until 2006 you owned the country lock, stock and barrel, and still own the presidency and choose all the cabinet members and advisers. And look where we are. The Dems have gone along with most of what you’ve wanted, so what is there to take back?
I’ve never been to this site before, but it’s an interesting microcosm of an irrational, emotion-driven and therefore visceral loathing of Obama. I am sure for some of you this is based purely on his policies and platform. I also am fairly sure, based on the level of passion here, that there’s something more that’s behind it, such as racism or…well, I’m not sure, but it’s certainly nothing Obama has said or done. Because what he’s said and done (praising the surge, acknowledging the need to fix Social Security, agreeing not to prosecute the FISA-breaking telcos, etc.) is relatively conservative, or at least nothing way out of the ordinary. He’s no Noam Chomsky. So ask yourselves why you are so riled up about the man. Forget about what you heard Rush say, and look solely at his record and his actions. Is he that despicable? Are his Wall Street ties unprecedented? Do you have any idea how connected the Bush family is to big business, here and in Saudi Arabia? Have you examined the aforementioned relationship between McCain and Keating?
Knowing how these echo chambers operate, I know this comment will either 1.) be ignored, 2.) create an indignant firestorm with shouts of “liberal!” and “netroots!” etc.; 3.) it will be deleted by a site manager who wants to hide it from readers as soon as possible. That’s okay. But I urge you to do your own thinking and look at what actually is happening. America is at terrible risk at this moment because of the missteps of the government, headed by a GOP president and Congress until less thn 2 years ago and still headed by a GOP president. Do we want to keep the same men in power, the men who gutted America and will leave it with debt that boggles the mind? Your call. Obama is not my first choice, but he seems bright, competent and has a track record of service and integrity (if you look at the actual track record and not what Free Republic or Michelle Malkin have to say about it). Think for yourself. Ask questions and look into our hearts to see what is really making you so frightened.
oops, we got a sophisticated troll. Larry, you have done brilliantly. They’re rattled now, and are sending in the soph. trolls.
LOL. I like this part from the soph troll:
“Obama is not my first choice, but he seems bright, competent and has a track record of service and integrity (if you look at the actual track record”
We’ve look at the record and there is no track record of service and integrity. There is just an indecisive, empy suit propped up by corporations and the adoring big media.
Only the B stringers try that here.
Long winded too.
lol at the soph troll.
Long winded ain’t bad if one has something to say (I say in defense of my own long windedness this morning).
Question for the paid Obama writers — have the female writers checked with the male writers to make sure they’re getting the same pay? Given Obama’s track record, the females might only be getting 83 cents on the dollar.
Also, as to Obama’s integrity, make sure you read Obama’s prevaricacion gorda on Social Security. Newsweek is carrying the story about the lie Obama is telling, which is good since so few people read Fact Check.
http://www.newsweek.com/id/160179
Looks pretty blatant to me, he’s only sophisticated because this is more original backhanded insults than usual:
Could this be the troll who used to refer to this site as a “cesspool” all the time? Anyway, busted for “racism.”
$100 to McCain.
Double my usual $50 because this Troll has a fairly good command of the English language.
Thank you for coming, please post often.
Obama is dirt. That scare to seniors regarding their social security is just plain dirt. How anyone can support this fool is beyond me. I cant’ believe the American people aren’t out in the streets screaming their lungs out about this bamboozler who has been foisted on the scene and presented to the people as a great guy. He is dirt, pure and simple.
I guess if he makes it we must deserve it. They say God doesn’t give us more than we can handle.
Good question.
“Is This the Stake Through Neoliberalism’s Heart? It Should Be, But …” by ALEXANDER COCKBURN, Counterpunch
http://www.counterpunch.org/
Exhibit A: Saint Obama Consiglieri Robert Rubin.
Like the Illinois Combine, the Washington Combine doesn’t really care about party, only about money. To Robert Rubin’s name I add Sandy Weill and Citigroup. Also, the Financial Modernization Bill was passed Nov. 12, 1999, amid a media frenzy over Monica Lewinsky. So we should also credit our crappy media with its passage. McCain voted “yea” but all Republicans did including Obo’s good friends Hagel and Lugar. Lugar slipped another “modernization” bill in in 2000 for commodity futures. Lugar took Obo under his wing and showed him Eastern Europe. Obama has some strange friends for a lefty.
You really believe Obama is bright and competent with a good track record? You just lost all credibility. You obots are quick to say wonderful! hope! change! about this thug, but you have ZERO to back it up.
Take your own advice. Think for yourself.
MCCAIN/PALIN ‘08
Ah, so this is Larry Johnson’s blog! Didn’t realize that, came by a link on Memorandum. Now it makes sense. I like Clinton. She wouldn’t like this, would she? She has endorsed Obama, I thought.
Richard writes “Obama has track record of integrity..”
Are you living in another universe, Richard? So you want to use guilt by association? How about Ayers, Rezco, Wright, Soros?
Richard - I have been thinking for myself. Thank you.
Hillary is no longer running for President. So now it’s down to voting for the lesser of two evils. In my view, that’s John McCain. Obama has no real experience, has a background of voting “present” too many times, and too many unanswered questions regarding his background which the media hasn’t even touched. I know more about Sarah Palin than Barack Obama (and sorry, reading his books isn’t quite the same) from the media. All politicians have something questionable in their backgrounds and it comes with the territory.
What’s making me frightened? It’s not his race, that’s for sure. I have a lot of AA friends (many who aren’t voting for him either despite what the polls say). I have come across to many of his “followers”, even on various blogs. They remind me of the Hitler Youth Movement and cultists; the hate they vent in unbelievable, none of Hillary’s backers here say women should be raped or say disabled babies shouldn’t be born. There have been too many of “vote for Obama or you’re a racist” coming from the Obama camp, even the media is jumping on that ship. I’m not voting for Obama based on color, I’m voting based on ability.
This country is in trouble, you can’t have an inexperienced leader at the helm! My state doesn’t count write in votes so I can’t vote for Hillary.
he seems bright, competent and has a track record of service and integrity Sorry, he may appear that way to you, but I’ve heard him speak and I’m not getting any of that. And his “integrity” is quite questionable. I live in the “gun-toting, bible-clinging” part of the country, the man IS an elitist! He doesn’t represent us middle-class people and he doesn’t know how to talk to us, which is why he’s been asking Bill and Hillary Clinton to campaign for him. He should have been able to pull that off on his own, but he can’t seem to do it.
Just because Hillary Clinton is endorsing Barack Obama does not mean I have to vote for him. There is no law that says I have to vote for my party’s nominee if I don’t think he’s qualified. The choice is still very much mine. Hillary had my vote, she’s no longer a candidate, so I had to look at my choices.
On another note, and I still don’t know the why of it, I live in a college town and we had Obama signs everywhere up until recently. All the signs are gone! I can’t find one Obama sign out there any more. Maybe the students are starting to think for themselves too.
Astra, ignore “richard”, he’s one of the new generation of trolls, now calling themselves “Hillary supporters” who, like Hillary, support Obama with all their wee hearts and souls.
It’s a waste of time to engage them.
Great post Astra!!
“have come across to many of his “followers”, even on various blogs. They remind me of the Hitler Youth Movement and cultists; the hate they vent in unbelievable,”
- It IS crazy. They call Hillary a c*nt, they call her supporters crazy, and then they wonder why we won’t fall in line to vote for him?
Now they are sending in sophisticated trolls.
nope. too late for all of that.
As much as I adore Hill and Bill, I do think for myself.
NoBama! Not Now! Not ever!
You need to go back to the mothership and get better material. We laugh at cracks like this here.
What is an “endorsement” by Senator Clinton?
Like it or not what Senator Clinton likes or dislikes will not make a difference in the near term.
Well that is odd Larry’s name is in plain sight… need glasses?
Great post and reading Larry
What a confusing election. I’m trying to figure out how Obama can be a Marxist-socialist and a Wall Street shill at the same time.
Easy. He wants to government to control everything so he can control the “bitter clingers” while he and his elitist class get rich and more power.
Do you really think Obama rose this fast being a principled guy?
If his goal for America is socialism and not capitalism then why would he care how he got to the top to make such a drastic change?
Well Obama is getting support from the Soros/ Internationalist crowd now, they will be running things because Obama already said he doesn’t actually know how to run anything, others will be doing that stuff
It’s actually quite easy if you take a look at how the communist countries were actually run.
The guys at the top used the ideology to control people, but in every case I know of, were total hypocrites. They lived on the fat of the land. Even that wacko in North Korea, where the land ain’t fat at all, was brought to heel because his flow of luxury goods was embargoed.
So whether you believe in Marx or believe in “Change,” you’re gonna be screwed.
Yep - good ol’ fashioned mind control.
And sadly, Obama and his backers are playing in the empty minds of many of his supporters.
That has been the most confusing thing for me as well. I have finally concluded that they are compatible. They both aim for total control. The only difference is in the packaging and sales pitches. The free market is as dead as FDR.
Alert troll. heard him on other blogs. Ignore him.
Maybe it’s his connections to Wall Street that stop him from coming up with a plan - too many interests to protect
Meanwhile, a look at the incredible shrinking Obama from Canada
http://edgeoforever.wordpress.com/2008/09/21/from-hope-to-pig-the-fizzling-of-the-narrative/
I don’t know what’s happening on the campus, but Obama’s popularity seems to have shrunk around here recently, thank goodness. Not too long ago everything out here among the college crowd was “Obama, Obama, Obama”; now the Obama signs are gone from the lawns, there’s no election talk when you go into the stores, and we seem to have some semblance of normalcy, again.
Do not feed the trolls.
The last thing we need around here is a bunch of fat trolls.
You know the writer has done his job when the ones with orange cheetos fingers show up.
Sorry, just had the overwhelming desire to smack one down this morning. Won’t do it again.
A brilliant piece of investigative journalism Larry. It is just a pity that the wider voting public is not able to read this or know the facts. Everyone should be aware of the truth about Obama and his influences. If you were able to find out the facts, surely John McCain is also aware of what is going on in Wall Street. Perhaps he does, which is why he and Sarah Palin have recently been referring to Wall Street corruption. If this is the case then why are they not comminting on it in their ads?
Word of mouth will be the key for John McCain winning this election. We all know that this is the most effective way of spreading information. We have to spread the truth about Obama before Election Day. The MSM’s not going to do it.
Obama has the MSM already. The good news is that many Americans have been tuning out their foolishness.
http://www.monstersandcritics.com/news/usa/news/article_1432089.php/Obama_Help_for_US_finance_crisis_needed_from_abroad
Lefty Girl Fight: PUMAs Rip NOW on Obama Endorsement
WaPo spells it out.
http://patriotroom.com/?p=2239
Great Write Larry.
Unfortunately this phenomenon is like Haley’s Comet; it returns every 75 years or so, it seems.
In 1955, John Kenneth Galbraith wrote The Great Crash.
One of the chapters is titled “In Goldman Sachs We Trust”. All the characters are there: Tommy Lamont(great-grandfather of Ned);Richard Whitney and his brother George;etc. Also the younger Morgan. Great book.
The Wikipedia articles on Tommy Lamont and Richard Whitney are verrry interesting.
Folks with a dark sense of humor might also enjoy this book:
Once in Golconda, written by John Brooks(1969).
I recommend Harvey Wasserman’s History of the United States. Pretty good coverage of the history of robber barons like Morgan, Gould, the guys who set it in stone.
Wow. The Democrats are tied in big-time to the money mess. And with Barky showing little enthusiasm for ethical behavior, this is scary!
Larry, thank you. That was in-depth research. The MSM should do so well.
The Democrats are tied in big-time to the money mess.
I have been saying for years that Republicans and Democrats are just flip sides of the same coin. And it has gotten worse the last few years with Pelosi, Reid, and Dean, and now Obama. It is one of the reasons I switched from Dem to Independent in 2006.
I am not at all surprised, but it is not a partisan thing and not political anymore. This is what I wrote to a friend today, who also read this excellent post:
Democracy is, IMO, so far the best deterrent against this, but, as we have seen this time around, the Democratic Party itself is outplaying Democracy. Where will this lead us?
sorry, there is something amiss in my post:
quote
This is why I once said to you that captalism is not working out either, just as communism isn’t. It’s because of the greed of a few corrupt, thuggish people without morale, exploiting the others, the small fish, in both cases. It’s because of human nature. We will always have to deal with these things, until they go too far, the system collapses and is reinvented. Then the whole circus plays again in a slightly different, but still uneven playing field.
unquote
How do you get such information into a 30 second or at most 60 second ad? How do you orchestrate such detail into a coherent speech? Why is Paulson—Republican appointee—apparently giving priority to Obama campaign (as in briefing them first)? If both Republicans and Democrats are in bed with Wall St. and the mortgage giants who brought us this huge debacle, will it make any difference who we as voters elect? What about the rumors that G. Soros was behind the market meltdown? How many fingers are in this pie?
Can you imagine the spritely images dancing around in the minds of Axelrod and Soros 6 months ago when they began counting all the money they were going to make. Opampers isn’t looking that good these days in the polls. Those sugar-plum fairies are now turning into cockroaches.
Not to worry, They still have time to figure a way to screw the American public to their benefit. It has already been written that Soros will make billions from the present stock market crisis - Soros, the Svengali to the minion, Obama.
Great post, Larry. Very thorough and complete. I do not understand economics well. You helped me to understand what happened and how it came about.
Like others here I omly hope that McCain’s ad writers can develop a few very effective ads on this hard to understand, and easily manipulated, topic.
The bailout is really a get out of jail card for the swindlers.
If you do not freeze all the speculative paper, for purposes of auditing you lose control over the situation. In short, the evidence will disappear and the bailout will give the perp’s time to cover their tracks.
Congress should be getting ruthless with these swindlers. However, too many members of Congress are owned, outright by the likes of George Soros and Felix Rohatyn. The truth is Congress, collectively, doesn’t have the guts to act on behalf of the American people. Now it is time to turn the tables. This is not the time to make nice deals. This is not the time to be “reasonable”.
The truth is Congress, collectively, doesn’t have the guts to act on behalf of the American people.
And literally, they can’t afford to. Got to keep those campaign contributions and that good press coverage or you can’t get (re)elected. It’s not just courage; it’s not possible.
Wait a minute, Larry.
You’ve spent months telling us Obama has no experience; that he barely stopped for a cup of coffee in DC before running for president; that there is no there there. Now you say he is responsible for a worldwide financial crisis?
Pretty lame, even by your standards.
Even inexperienced tools can be used.
There’s no fool like a new fool.
Well, Gibson, aren’t you the master sleuth. You must study at the feet of The One. The point is that BO is tight with bottom feeders in DC and Chicago (and elsewhere), doing his deals. You don’t have to physically BE there to do that. Nice try, though.
Obama has done ZIP in any meaningful way that isn’t in his own self-interest. Have you ever visited the South Side of Chicago?
I lost my car keys last week.
There’s no question in my mind Barack Obama is to blame.
Well Charlie, all you really need is your air guage.
$50 to McCain.
Thank you for stopping by, please post often.
Yes, he is to blame for everything.
I agree 100%.
Of course he’s to blame. You’re in a Messianic trance over bo. Not to worry, it’ll pass.
Saint Obama will play the part of Moses
Parting the Seas Of Red Ink.
Maybe all those naked shorts are from Obama’s Wall Street friends. Trying to get out before the McCain/Palin reforms kick in.
Barack Obiwan had half a billion dollars, stole the democratic nomination, and he still can’t close the deal.
Obiwan should be comfortably ahead by now. He’s not. McCain should unleash the 527 hounds and finish him off with Rezko, Auchi, no Senate hearings with which Hobama was chair, and now his Wall Street naked shorters. Hobama-Obiwan will be in the fetal position by November 4th.
Barack Obiwan had half a billion dollars, stole the democratic nomination, and he still can’t close the deal
- Amazing isn’t it. I’ve said the exact same thing numerous times.
The media was in the tank for him, he had money pouring in but he still isn’t doing better.
I’m glad more Americans can see right through that snake.
Just look at the money he is spending on obamabots to come here and post in an effort to convert us. I’d call it a shoddy return on investment. So much for his judgment, as a minimum.
I hope and pray that you are correct.
Thank you, again. I try to simplify complex fact patterns for my students, enticing them to become involved in the day-to-day operations of their lives with this promise: if you will not take control of your situation, someone else, with more information than you, will.
We see the finger of Goldman Sachs throughout our financial history and not in a very reassuring way. As I thought about this, I would just like to point out that this financial meltdown has now cleared the financial roles of some huge players: Lehman Brothers, Bear Stearns, Merrill Lynch—I think I may be missing a couple more—but the point is that Goldman Sachs seemed to position itself to not only wipe out its competitors but get taxpayer funds to help it succeed.
Am I thinking clearly here or am I off base?
It certainly looks that way. Larry should send his excellent summary to the McCain campaigh.
It certainly looks that way. Larry should send his excellent summary to the McCain campaign.
Why don’t you contact John McCain yourself?
Contact John McCain:
http://www.johnmccain.com/Contact/
RNC Contact Page:
http://www.gop.com/Connect/ContactUs.htm
In depth reporting Larry!
No, I don’t grasp all of it, but that’s the point, right?
Accounting mischief? Running the old “shell game” while stealing everything that isn’t nailed down?
McCain is willing to acknowledge his limitations in areas of finance…but his record of standing against government waste resonates with me, and I trust him!
What he doesn’t know, he will find out!
Also, there are plenty of Democrats who are up to their eyeballs in this debacle!
“These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ”The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.” (NYT article: New Agency Proposed to Oversee Freddie Mac and Fannie Mae by STEPHEN LABATON Published: September 11, 2003
Hey Larry and Susan, add this to your story:
————–
The Obama Bubble: Why Wall Street Needs a Presidential Brand
I’ve been waiting to see the tie b/w Wall Street and Barry AND this quote “Who better to sell this agenda to the millions of duped mortgage holders and foreclosed homeowners in MINORITY communities across America than our first, beloved, black president of hope and change?”
This is the connection that finally ties up all of my questions regarding the bludgeoning of Hillary during the primary. This is the missing link BUT it all makes sense now.
Barry is the candidate who is in bed with the very individuals who would be indicted if he becomes POTUS. This is apparently the deal.
Thanks Larry for the excellent post and thanks Ego you can believe in for providing this link.
The Black Agenda report has many articles telling it like it is on Obama.
Yes, they believe he is a diabolical stooge to white interests.
I’m thrilled.
Seems as though the last Great Depression may have had a part in bringing on WW11, and if that should happen again I really do hope someone like McCain is the CIC and not some anti-American like Obama.
Corrupt. I want to see McCain rip through Washington/Wall Street like the swashbuckler I think he is.
Larry, be sure to check a newsstand near you for O’s “Historic Presidency” edition magazine — can you believe it? I saw it last night.
This time it had the real seal on the cover.
Ugh. Worst election of our lifetimes. It ceases to amuse at this point. Thank you NQ. For your coverage.
I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole. John Mccain 2006
http://www.govtrack.us/congress/record.xpd?id=109-s20060525-16&bill=s109-190#sMonofilemx003Ammx002Fmmx002Fmmx002Fmhomemx002Fmgovtrackmx002Fmdatamx002Fmusmx002Fm109mx002Fmcrmx002Fms20060525-16.xmlElementm0m0m0m
This stuff just keeps getting worse and worse…When I read that we may be bailing out foreign banks with our tax dollars I say NO, Hell NO!
If Clinton signed in to law the changes in the banking system while he was in office, changes put there to protect us after the banks failed when the market crashed causing the great depression WHY can we not go back to the previous laws and stop this stuff from happening???…
30yeardem…Ain’t it Peach?
As Paulson said this morning on “This Week” “it a global market.
If China will end up with a 49% share in a major US institution what isn’t global about that?
This post by Mr. Johnson, while talking about BO’s inescapable lies, pointed to the fact all this does is kick the can down the road.
The government is not buying assets, we are buying the instrument that was used to drain the equity of these assets. Obama Snake oil.
So let me get this straight. I as a taxpayer am paying for the misdeeds of greedy people who then will loan out this money with no oversight or accountability, and those people walk away whole?
This problem will not go away. It WILL get worse. In fact, if you believe that as Paulson said the US financial system was on the verge of Depression unless “we” act quickly and that is the end of it…good luck with that.
The underlying theme of this Article is that the people that brought this nightmare to fruition are the same people that are saying what needs to be done now. And Obama is in bed with these folks.
You can’t believe a word from any of them. Grapes of Wrath Reduex is a commin.
Remember that old advice about what to do during a nuclear attack?
“Bend over and kiss your ass goodbye”
Commies running our largest banks. Un-freakin-believable!
That’s right, but it won’t stop then from saying we mustn’t kick up a fuss about losing Social Security. That won’t need a bailout. We are not too big to fail.
Sorry - OT… But this is good article and needs your donation. Even a small one would help.
http://tominpaine.blogspot.com/2008/09/how-massive-obama-defeat-becomes.html
I love tominpaine!!
I tried to post that link the other day but it wouldn’t work.
Very, very good blog.
I think everyone should read it.
Ya have to write the word DOT where the dots are and COLON after http.
Unless you’re a NQ insider.
I’m thinking that if Fannie Mae was reporting good earnings that it would drive the market to write more subprime mortgages because there would be enough to cover any losses if some defaulted. This would add to the problem. I know that there was a lot of radio advertising pushing zero down paper.
As always, this is an excellent post, I linked to it on my blog this morning. If this doesn’t make it to the Sunday morning talk shows, I don’t know what we will do. Bush had his oil cronies and now we have Obama/Biden with their banking buddies to contend with.
Sarah Palin serves the people, not entrenched powers
Excerpt: I stood on the floor of the convention center in Minneapolis, watching with pride as she gave her acceptance speech, and the energy in the room was electrifying. That same jolt of energy has spread through New Jersey where voters are still abuzz about this ticket of mavericks
It now looks like the Garden State, with its 15 electoral votes, might be the state that puts the historic McCain-Palin ticket over the top. And this will be no accident. Palin is exactly what our country needs — a no-nonsense leader willing to cut taxes and spending and to take on en trenched political powers because it is the right thing to do.
http://countusout.wordpress.com/
LET’S GIVE HER A CHANCE
Even though I am opposed to McCain on almost everything, I think that he has a little integrity.
Obama has only personal ambition.
The bubble game has been going on for some time now, both parties have a hand in it and if they deny it; there lying. As far back as 1999 a NYT article was discussing the problems of government pressure to loan to those with bad credit, using HUD and FANNIE. People knew then, do you think Greenspan didn’t know or hear the concern? Then just think back over the last couple years of the growing concern of these loans, and nobody in charge knew? They all knew and said nothing. Obviously, other knew and were shorting the housing market and they didn’t know? Now were talking of extending the bailout to foreign banks? WTF! This is the problem with a Global Economy. When Bear Stearns went under, WHEN ASKED IF THERE WOULD BE MORE BANKS TO FALL! Paulson said he had faith in the financials and we would be fine. Was he lying, maybe. More like doing his job of painting a pretty picture to cover up the fear. I seen a replay of it this morning and I really believe I saw fear in his face as he answered the question. How can they say they seen it and did nothing, nobody would have faith in them come Monday morning.
I’VE GOT A BAD FEELING ABOUT THIS BAILOUT. Maybe we have to do it, but I think we being had. I think if were bailing them, we should own them, and NOT turn around and sell the assets back to them at discount like the RTC did.
Sure Wall Street had a party this past Friday because they know we were being sold out; but how does this stopped the decline in home prices? anyone got the answer to that? The only one group that can decide that is the consumer! (that would be you/us). If you couldn’t afford a $300,000 home last week, how can you afford it this week?
bambi took there money for one reason, cover and support, he wasn’t the only one, but he was a big one. mccain has the right idea to go after all these people, but there are a lot of them in both parties, and we’ll never see across the board support, when he tries to act on it. While I will agree that mccain said something back in 2006 about reform and oversight; I don’t think he went far enough then. One person hasn’t been running this country for the last twenty years, we elect over 500 every cycle to run this nation and they are failing; while there friends and family get rich….. Would love to know how many worked for these big donor companies!
This is totally off topic but I was wondering if any of you have read this book?
Last week Amazon.com and Barnes & Noble once again reported they were sold out of “Sarah- How a Hockey Mom Turned Alaska’s Political Establishment Upside Down” written by Kaylene Johnson and first released months ago. But with the rights picked up by a second publisher and a new edition with a print run of 300,000, book stocks were replenished on September 20th and once again ready to be shipped.
Today, “Sarah- How a Hockey Mom Turned Alaska’s Political Establishment Upside Down” continued its climb up the New York Times Best Seller list, reaching the #3 spot on the Nonfiction Paperback list. Due to demand the Hard Cover new edition is not yet available.
As stocks become replenished, shortages continue in Barnes and Noble outlets across the nation.
With rumors, mis-truths and outright lies being spread across the Internet and media outlets, this book written well-before Palin was considered as the Vice-Presidential choice offers readers the opportunity to see a true reformer in action. The book was written, not by herself and was written well before her rise to a national position. The book highlights the life of Palin, her middle class roots and her rise as an advocate for the people of Alaska. The books written to clearly push the campaigns of already powerful candidates, this book highlights the real Palin, her upbringing, the rise of a middle class mother who was not born with a silver spoon in her mouth or the benefit of an ivy league education. The book highlights her dedication to family and community and events that led her to obtaining the highest approval and favorable ratings of any current Governor.
I bought a copy for myself and my neighbor awhile back…it is a very good book and in it you will find that the MSM is not reporting the truth about the so called troopergate…Read the book to get the real story and the truth…it is the dems again doing the lying…
thanks for the info.
Larry,
I read back over this post again…I am wondering…were you surprised to find out that the democrats have played such a huge roll in this mess?
I was…A few weeks back or maybe months I started seeing a pattern in the dems and was truly surprised that the dems seem to have fought very hard for the things that are now bringing our banks down in turn hurting Americans…and it is not just the banks, I see what they are saying about conservation but you can’t just stop oil from being used and they have to know what they are doing is hurting our economy…it seems they are going after every avenue they can to bring this country down and I would like to know why…
Should we bail out wall street? Isn’t this where the cream rises to the top and all!
A related article:
In the latest Counterpunch, ( the free edition online)
Is This the Stake Through Neoliberalism’s Heart? It Should Be, But …
By ALEXANDER COCKBURN, http://www.counterpunch.org/
It’s one big happy orgy, folks. There’s no discernable difference between the parties. Nothing to see. Move along.
Please see today’s post at Anglachel in which she debunks the Clinton complicity with Graham. She details what really happened and the work Clinton did to stave off a worse case scenario. I think it is important for everyone to read that post. The Graham legislation that wound up destroying Glass Seagull was passed by a Republican majority in the Senate with the help of Democrats. This is most certainly a bi-partisan mess but it was not instigated or pushed by Bill Clinton.
I would love to see an article tying Wall Street to MSM like CNN, MSNBC, and yes, the NYT.
This is just Barack’s problem?
McCain married one of the richest women in America.
Hillary donated her own money to keep her race going, she never stooped to any of the scandalous poisoned fruit of this tree.
Voting for “only half as corrupt” doesn’t even win you the mayor’s race in Chicago.
- “America’s Own Kleptocracy,” by Michael Hudson, Counterpunch
http://www.counterpunch.org/hudson09202008.html
FYI, that wasn’t meant as a reply. Sometimes these posts just go where they want to.
NP, former boss was old money. Part of the Halliburton’s neighborhood.
This is a replay of the Robber Baron era.
Senator Chuck Scumer Debunks Obama’s Tax Plan
WOW, anyone catch Chuck Schumer’s debunking of Obama’s tax plan on FOX News Sunday?
Look for Obama to throw Senator Chuck Schumer under the bus next.
On FOX News Sunday, Senator Schumer just debunked Obama’s plan to raise taxes on small business and investment.
Schumer was asked if Obama’s plan to increase taxes on small business owners and increase taxes on invesment would be good for the economy now that we are facing a potential $1 Trillion bailout.
Schumer’s response:
“When the economy is in decline, you don’t raise taxes.”Thank You Chuck Schumer!!
Even Chuck Schumer admits that Obama’s tax plan would hurt our economy.
McCain-Palin ‘08
Hillary ‘12
Divide and Conquer: You are on the right track. I am not an uninformed person but I have to admit that when I saw the contributions to Dodd, who is chair of the committee with oversight on all of this, I was taken aback. I had no idea that committee members doing regulatory oversight of an industry for whom they also legislate were also in the business of taking campaign funds from those entities. I say this and I am really embarrassed—what a naive rube I am. I thought that we had gotten beyond this. I thought that was why Randy Cunningham went to jail. Maybe in his case it was not the money given by regulatees—it was that he used the funds for personal profit. What pray tell is the difference?
Question is…was he taking the money to turn his head, look the other way while they bundled all those bad loans and sold them to the banks…he won’t investigate himself…and look at what Charlie Rangel has been up to with his taxes and what does he oversee????
When McCain tried to put a stop to it how did they vote? they let it continue..
This is why I’m a registered unaffiliated, I believe both side have been taking us to the cleaners. I vote for whom I feel will do the least harm and or a better job if they give me information. I don’t fall for the fear of vote for me because of the Supreme Court slots, Roe v Wade, and guns. Do the peoples work for the right reason, not to give one group an edge over another. I won’t say the treasury was lying to us about the markets; I think they were putting lip stick on a pig; as part of there job to reassurre the public and investors. Knowing they were in a sink hole. The one thing I can’t figure out just yet; is how does this help the people? Home prices can’t just start going up? Will they stop forclosures, maybe. But, what if they were already in over there heads? Start restructing the loans..ie. my loan is for $300,000 - I can only afford to finance $200,000 so you forgive $100,000 grand? That still brings home values down. I guess it is in the details, that will be WISKED through the house/senate and signed by bush; before we see screws coming at us. Reform and Sunshine laws are what I want to see.
Cunningham went to jail because he actually had a price list printed up. Like a menu.
Joe Biden helped push through the new bankruptcy Bill that the Credit Card companies wanted, MBNA is Biden’s largest contributors. The nice man at MBNA, an Exec, bought Bidens house for full asking price, $1,200,000, but if you look at comps in the area it was worth at least $100,000 less. That is not corruption though, I’m sure joe would tell you that.
McCain and his wife have a prenuptial agreement that keeps all of her assets in her hands. She did not even make a loan to him when he was in financial trouble. Her fortune is valued at about 100 million. While that is impressive, it is most certainly not huge. In America today you don’t count among the super-rich until you top the 1 billion mark. 100 million is a long way from a billion.
ALMOST ARMAGEDDON
MARKETS WERE 500 TRADES FROM A MELTDOWN
http://www.nypost.com/seven/09212008/business/almost_armageddon_130110.htm
Could all of this be linked to George Soros?
People were pulling money out of the banks, their 401ks, yes paying all the penalties.. so fast last week that they had to do something.
This is way OT- but I was watching the movie Bobby this morning (for the third time). Great cast.
As the tears were running down my face I thought what happened to the Democratic Party?
I am 48 and was only 8 when Bobby Kennedy was shot so I don’t remember a lot. Is it just that I am romanticizing what the Dems used to be? Have I kept my eyes shut so tightly the last 30 years I have been voting. Have things changed as much as I think they have these past few years?
It is a bitter pill to swallow!
Well, JFK only got in because of the Daley machine at the time. So the rot has always been there. But I think that digitization and the huge amount of communication that the internet is making possible is bringing things to light that otherwise would only be found in the occasional blockbuster book or something. Or by investigative journalists, as they once were.
Obama is the head cheerleader for a bad economy. Scary.
Please read post by Anglachel today on the Glass Steagall issue and the role of Bill Clinton. We need to interrupt and stop this rant about “it’s Bills fault”. It is not Bill’s fault and it was his hand at the helm that kept the Graham legislation from having a worse effect.
Obama is the best thing to happen to the Republican party in years. Obama will bring defeat to a lot of down ticket Democrats, unfortunate.
Nobama!!
maybe they need to be purged…if a dem is running against a dem maybe it is time for a changing of the guard.
The Obama Bubble Agenda
By PAM MARTENS, Counterpunch, February 16, 2008
http://www.counterpunch.org/martens05062008.html
The next bubble is alternative energy.
actually, it will probably be in food because farmer are being paid to grow energy instead of food …
water
Au contraire on Greenspan.
No matter what you think of Greenspan, he referred to both the dotcom, and housing bubbles as “Irrational Exuberence”.
Greenspan warned about the dangers inherent in the excess of both markets. The problem was, he did NOTHING about it.
Regulations were needed to save us from greedy wall streeters, mortgage banks, developers and real estate companies.
Regulations are needed to protect the ignorant masses from themselves.
We would throw a luatic into the “Hotel Happy” and pump them with drugs and therapy until they were no longer a danger to others or themselves.
But when the lunatic is “Mass Irrational Exuberence” and Greedy Corporations, we are happy to let it destroy us all.
only the dot com boom. he was part of the creation of the housing bubble …
People need to try to learn more…I see the polls go in Obama’s favor because people don’t know the truth…Obama lies and people cheer, people are being duped again and don’t even care to check the facts.
What do you think of this wrinkle in the bailout business?
Here is a paragraph from the Treasury Fact Sheet released last night: Asset and Institutional Eligibility for the Program. To qualify for the program, assets must have been originated or issued on or before September 17, 2008. Participating financial institutions must have significant operations in the U.S., unless the Secretary makes a determination, in consultation with the Chairman of the Federal Reserve, that broader eligibility is necessary to effectively stabilize financial markets. So this bailout covers any securities issued on or before last week! Why would we be bailing out activity from this year? Or even after Feb 2007 when the subprime crisis woke everyone up? I’d argue for an even earlier date …
But the second sentence is even more surprising: eligibility has been changed from “financial institution having its headquarters in the United States” to “significant operations in the U.S.” - and even “broader eligibility” if Paulson so decides.
According to this fact sheet, under the Paulson Plan, U.S. taxpayers may bailout foreign financial institutions and even foreign governments.
NOW AMERICAN TAXPAYERS ARE ON THE HOOK TO BAIL OUT THE WORLD???? I say, let them fail if they are foreign entities. That should be illegal.
Jangles,
That’s one of the things I said in earlier post. In a global economy, the CDO’s are everywhere. Which is why I couldn’t see how this will help anyone but Wall Street. It will fly through the house/senate and we’ll get the bill next year(s).
We need to watch and be ready to act as it develope’s. Pork and Ear marks have got to stop.
Read these two article about the Democrats role in the recent Financial Turmoil we are experiencing:
The Democrat’s rhetoric on taxes and health care is frightening people in the investing classes over what critics call ‘wealth redistribution.’
http://tiny.cc/7QXF1
http://tiny.cc/e2X06
yes - it’s a global economy. raise taxes, and the capital will flee.
seriously, do you think many of the wealthy are not diversified?
google some of the big hollywood types - their money is overseas.
Thanks for this Larry. I’ve been jumping up and down about this for EVER! (Lone little economist and her voice in the Louisiana wilderness) It doesn’t seem to get any traction in the MSM. Also, don’t forget Pritzker… she’s a big part of this mess also. You cannot expect this man to change anything when it comes to the economy. He’s in bed with the wolves!
Outstanding Report Larry..All of Your information needs to be Headlines in the MSM..and Presented in
Hearings..but to WHO..
Does this take a federal CLASS ACTION SUIT on behalf of the People of the United states to get Proper Attention..and results..??
Tjhis is an outstanding Blog..
Franklin Raines, former CEO of Fannie Mae, is Obama’s Chief Financial Advisor. Raines raked in over 25 million annually from Fannie Mae while seeding it’s collapse. After being forced from Fannie Mae due to an accounting scandal not unlike ENRON, Raines now provides Obama with financial, mortgage, and housing advice, and raises money for the campaign.
Raines agreed to a multimillion settlement with a federal regulator, the Office of Federal Housing Enterprise Oversight, over his responsibility for improper accounting at the mortgage finance giant Fannie Mae. In court papers, the agency said Mr Raines was unjustly enriched.
http://voices.washingtonpost.com/washbizblog/2008/04/regulator_to_dismiss_charges_a.html
Raines failures at Fannie Mae earned him the not so coveted “Worst Manager of the Year” award from Business Week on January 10th, 2005. http://www.businessweek.com/magazine/content/05_02/b3915646.htm
http://nobho.blogspot.com/2008/09/obama-stuffs-campaign-coffers-with.html
Thanks for posting this article, Larry. For those asleep at the wheel or so secure in their job status, this should be a WAKE-UP call..They may be next!
Meanwhile, the oppressor stumbles and bumbles his way through the cult gathering at rallys, grabbing at straws when his teleprompter fails.
http://www.pumasunleashed.wordpress.com
I get such a kick out of you Hillary supporters whining about how the media is not covering Barack Obama’s (many) flaws. This is news to you? You just discovered that the MSM pushes whatever line is necessary to elect the Democratic nominee?
I hope it comforts you to know that they would be pushing Hillary hard if she had won the nomination. And then you’d be just as upset, right? Fat chance.
Now you know what every Republican candidate has to fight against to get elected — how hard it is to get a message out in the face of the MSM hurricane.
oooops, troll alert. they’re sending the simpletons (Bob White) along with the sophisticatd trolls (soph trolls). we feel bad for you, Bob White. $7/hour. lol
Does my wage rate matter? Matters to snobs, I suppose. In my life I’ve worked for $1.80/hr and $107/hr.
Now, can you address the notion that the MSM is in the tank for whichever candidate the Dem Party nominates, or are you going to try to convince me that they just got their knickers in a twist over Hillary (cuz she’s female)?
Obama is more liberal than Hillary, hence the liberal bias in his favor.
would you like to define ‘liberal’, Bob White? FISA is what we liberals want? how about more faith-based initiatives? Grow up, bob white, study your candidate. He ain’t a liberal. He stands exactly opposite to a liberal.
the only thing obama stands for is obama’s interests … check where he votes, present on things which require votes of consciousness, yes on votes where special interest groups support him to vote that way
I don’t think the msm is emotionally or intellectually capable of promoting a woman candidate. Fox has accomplished a bit of fairness with Ferraro and Palin, but even then, it is tinged with condescension and a real lack of understanding of what counts as fair and equal treatment by women.
It isn’t in the Global Banking community’s best interest to point out Obama’s flaws. Why would they do that to their own puppet government, if he gets elected?
Any wonder they fought tooth and nail against Hillary’s winning the Nomination, stooping to having to “STEAL” it from her.. They wouldn’t have been able to Control Hillary because she would have been acting in the best interests of the People! Setting the Global Bankers plans on breaking the Middle Class.. back 20 years.
Yesterday:
Joe Biden overcompensated by making a fool of himself and also managing to mock the top of his ticket as a confiscator of hunting rifles and handguns.
“I guarantee you, Barack Obama ain’t taking my shotguns, so don’t buy that malarkey,” Biden said angrily. “They’re going to start peddling that to you.”
“I got two, if he tries to fool with my Beretta, he’s got a problem.”
Biden says he doesn’t hunt, rather shoots skeet with the two shotguns. “I like that little over and under, you know? I’m not bad with it,” he said today.
lol
http://therealbarackobama.wordpress.com/
Really maybe the best candidate for this crisis was Mitt Romney. A man who actually understands these issues.
According to the NY Post, the Dow would have declined to 8300 on Friday absent the intervention that was done. It’s saved for now and maybe the rest of the year but will ultimately go lower than it did in 2002-2003. A real opportunity for some to make money.
http://www.nypost.com/seven/09212008/business/almost_armageddon_130110.htm
i don’t know what no quarter was before, but i came here through uppity’s site which i got to by way of chicagoan against obama. i cannot tell you what it was like to discover democrats that care about this nation and can discuss her challenges with reason and civility. as a conservative i also move within an echo chamber -but it is incredible how similar our conversations are with the puma’s. its the most radical negative people who get all the air time. i cannot believe a keith olberman or a daily KOS can have so much influence.
are there any stories about people who will do jail time for this meltdown?
Hi sparringK9,
To me the most shocking source of info that has become influential is Huffington Post. Do people realize that she floats between New Age gurus? That she flips opinions like burgers depending on where the money is? (And trust me, I do respect people who change there minds through reasoning, but she’s not one of them.) And that she has said publicly that she thinks MSM news journalists should write with bias because the audience is too stupid to make up their minds with the facts? (I’m paraphrasing, but that’s the upshot.)
And have they noticed that they are reading the “news items” of such luminaries as Steven Weber (or the TV show Wings), Paul Reiser (of the TV show Mad About You), and college kids? And that the web site often covers stuff in a cheap tabloid manner?
It is stunning that “journalism” has devolved into this. And I am a journalist.
Ugggh. Welcome to No Quarter. It is great here…People can get a bit carried away, but mostly this stuff if very thoughtful and well-sourced.
Why didn’t they just shut down the Stock Exchange like they’ve done before when the down plunges?
Russia saved every dollar they could by shutting down for 2 days until the hemorrhaging stopped!
This is getting worse and worse! Now the bailout is going to include foreign banks?
This legislation is the BIGGEST FRAUD IN HISTORY!!
$700 billion - $1 TRILLION is being bilked from the American people to be shared by the WORLD’S BIGGEST BANKS!!!
They switched the wording in the agreement to now include a bailout of foreign banks. This is WRONG!!
Why does this deal have to done immediately? Because the plan will not hold up to scrutiny, that’s why! They are trying to pull the woll over the American taxpayer, again!
Paulson (former CEO of Goldman Sachs) is using SCARE TACTICS to frighten congress, the media, and the people into ACTING WITHOUT THINKING. Obama punted to Paulson and says he backs anything that Paulson does. While Obama sits on the sidelines and does nothing, at least McCain is questioning the agreement and showing leadership.
McCain has the best policy to get our economy back on track. I’m glad to see McCain questioning the Administration on this. McCain is looking out for the American people.
Obama and his buddies from Freddie and Fannie are part of the problem!!
America, don’t be afraid to ask questions and demand answers from Pauslon and the Congress on this!!
Floks, I would strongly suggest that readers of this blog that the initiative and forward this article to the editorial desks and political desks of every local newspaper, radio station and TV station in your local area.
While it’s certain that the likes of CNN and the NY Times will not take the lead in resporting these facts, there are still many, many fair-minded journalists throughout the land who will indeed be willing to do so. And as was the case with the success of the troop surge in Iraq, which the major media tried their very best to ignore and then deny until it became impossible to do so any longer, if enough of a stink starts being raised at the grassroots level about Obama’s ties to the culprits in the mortgage meltdown, at some point the mainstream media will have to hop on board.
I know you guys don’t believe astrology, but this is a weird coincidence.
When Pluto (planet of transformation was in capricorn last was 244 yrs ago during the Revolutionary War.
Ok.Pluto was in Capricorn from Jan 208 to June 2008 and then went retrograde into sagittarius for a few months. It will again be there from Nov 2008 until 2024.
Ok. next coincidence. If you examine the astrological chart of George Washington and John McCain, you will find some striking similarities. Same Moon “pada”: Moon in Capricorn within a few degrees of each other.
Re-incarnation of George Washington?
http://www.youtube.com/watch?v=1H8zVhHROHg
Dear Mr. Obama II : Economics 101
http://www.youtube.com/watch?v=oM3Ls8NNc5Q
MR.JOHNSON is ther a way you can simply break it down with a chart that shows which congress members voted against Bush’s attempt at new regulations from 2001 or Mccains from 2005 and show the $$$ each one who voted against it received…I thought I had read that Bush presented a new bill in 2002 and definatly Mccain one in 2005..If a simple chart who voted against a reform and in turn what they received would be very interesting to those who want REAL CHANGE….
I also think this bailout is a terrible, fear-mongered attempt to hide away the fraud perpetrated through the sub-prime loan manipulation. As it stands now, we’ve nationalized the mortgage industry. Let the investment firms and insurance companies that profited out of this fail. So long as you hold on to your investments and don’t panic, all stock values of the companies found in your mutual funds will be fine, they’re not part of this mess. Your home value will correct as well. I say let them fall, just hunker down and ride it out.
It’s fairly obvious the home loans for the non-qualified is a distorted extension of the New Deal, and for this sentient being it’s obvious which party pushed it to it’s sick and expensive current crisis.
I’m sure it’s all the evil, greedy, republicans fault, though. I can hear it ten thousand times in the media braindead lying machine. Paulson is the new catch word, and Bernacke, and of course soon it will morph into tricky dick and Halliborton, no doubt, somehow. I can’t imagine it won’t be linked to the Carlyle Group, and then to bin ladens as long as Bush 41 is at the head of that, too.
I say one thing.
**** YOU COMMUNISTS, YOU WON AGAIN.
They don’t win if the bailout gets nixed. This is a sweeping attempt at socialism. We’ve already nationalized the home mortgage market. No Bailout!
The Obama Bubble: Why Wall Street Needs a Presidential Brand
Wednesday, 05 March 2008
“Who better to sell this agenda to the millions of duped mortgage holders and foreclosed homeowners in minority communities across America than our first, beloved, black president of hope and change?”
http://www.blackagendareport.com/index.php?option=com_content&task=view&id=548&Itemid=34
Is this another “Whitey Tape”?
This is why Obama was so “helpful” selling the bailout deal to the Democrats and Congressional Black Caucus.
Talk about ’sheep in donky clothing’… Obama is Wall Street’s Trojan Horse!
hey people u r stupid u dont even know whats happening in the world you retardsif you knew you would actually know how to sovle this problem
so
SOVLE THIS RIDDLE
whats red and white and taps on glass every 5 seconds
when you get this right
remember that this crap actullay happens in real life
not on some stupid paper!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
im not optimestic about america’s people economic problem and hope that obama can not make it right .
im from iran and like america but i can not see people’s problems cause we are human and should be help to each other .
thanks