RSS Feed for This PostCurrent Article

Poor, Poor AIG

NoQuarter: This is Uppity Woman’s story. My apologies for not changing the author name sooner.

You remember AIG, don’t you? Our dunces in Congress gave them an $85,000,000,000 bailout package during the Great Pre-Election Giveaway.

e3rPoor AIG’s top level managers were so stressed that they immediately took a well-deserved trip to a spa to the tune of nearly half a million dollars—from the Bailout line of credit money. But they were stillstressed, poor babies! So some of them went partridge hunting in England and layed out nearly $90,000 there.

Well today, AIG’s management is all stressed again. So they went for the very best de-stressor they know–the American tax payer.

AIG now says they need to renegotiate the terms of their loan because nobody wants to buy parts of their shitty business that they ran into the ground. Their interest rate is too high, poor babies! And they can’t pay back the principal because they’re in a ditch. That’s right, we gave $85 billion to a company that’s in a ditch and is staying in a ditch. How many of you recall our Congressional Geniuses telling us that we taxpayers will make a BUNDLE when AIG sells off all it’s wonderful assets?

I mean, it’s not like they didn’t get a nice low double-digit interest rate like all those credit card companies charge consumers or anything right? No! They had to suffer with a single digit rate of 8.5%. So now they need to re-negotiate the terms of their loan.

Say, I have an idea: I think everybody should call their credit card companies in the morning and tell them you need to re-negotiate your interest rate right now and see how well that works out for you. And we bailed some of THEM out too.

Here comes the threat line:

Taxpayers may lose money unless the AIG bailout is restructured to reduce the need for quick sales, said shareholders including former CEO Maurice “Hank” Greenberg, who controls the largest block of privately held AIG stock.

Hey “Hank!”! Don’t make me look up how many MILLIONS you walked away with. I’m really sorry you control the largest block of stock. Company gifts while you were there pillaging? Just asking. Life must really suck, Hank. No wonder you think “renegotiating” is a great idea. It’s a great idea for YOU! The “taxpayers” already lost money the day they gave you pigs an $85 billion line of credit.

Now the AIG argument is, their assets are worth less than they should be worth. So if we could just drag this out a couple of years, maybe somebody will want to buy an asset when it’s worth more. Well, AIG, I would like to inform you that my house is worth less too. And so is my 401k. Do you think that Americans can just call up their lenders and whine for a ‘renegotiation”? Where do Americans get a sugar daddy like the one you’ve got? Wait a minute….they ARE your sugar daddy!

Here’s AIG’s current CEO, fresh from the spa and partridge hunting trip. I know you feel really really sorry for him. Just like he feels really really sorry for you. He looks so pale. Perhaps a company trip to a tropical island might be in order.

Update: Congress apparently feels even more sorry for AIG and Mr. Greenberg’s holdings than we do. They are going to give AIG another $41,000,000,000.

aigceo1Works

  • benny

    What bulls**t. enough of this nonsense. send the top management to prison for a couple of years. helping AIG again is ridiculous. they keep screwing up, and we keep bailing them out. when the he** will this ever end?

  • John Smith

    The FED has already lent more then 2 Trillion to banks over the last few months. They will not let anybody know what they took as collateral for these loans. Now add the 700 Billion bail to that and you have close to 3 Trillion that the tax payers are on the hook for. We are also looking at a 1 trillion budget deficit. So if you are still worried that Obama will screw up you life then you can sit back and relax. He will be lucky if he can keep the lights on in the White House.

    http://www.bloomberg.com/apps/news?pid=20601110&sid=ahdVHk_Ccoeg

  • jean breban

    Sometimes America looks quite european.

    We had that type of stories several times here, in France.

    Only we experienced far more than ONE re-negociation. Always three, sometimes a dozen, in steel, insurance, banks, coal mines, computers, etc.

    Be prepared. You are on the good trail.

  • candymarl

    You have got to be kidding me.

    That poor, poor multimillionaire needs another bailout. Those waiting on those checks? Get in line behind those Obama campaign workers.

    Change We can Believe in and Change We Need – NOT.

  • http://www.wewillnotbesilenced2008.com OBAMA IS A FRAUD

    ROFLMAO John…Well then I am appalled that the first order of business is to bring the terrorists in Guantanamo here to prosecute them. Does anyone know how much a criminal trial at that level costs? Never mind how much it will take to bring them here and secure them. I just don’t know where OVomit is going to GET the money to pay off all his promises. But I know there are people who voted for him who REALLY believe they won’t be paying their bills anymore, thanks to Uncle OVomit. Ughhhh….what a mess.

    As for the article you linked us to…how disgusting. We should DEMAND to know the details of those loans. It’s OUR MONEY.

  • Maria3

    Rosary Films offers a 1 Million Dollar Reward for Obama’s Certified Obama Long-Form Birth Certificate

    http://www.youtube.com/watch?v=oVoJZEdM0K4

  • Boxer Mum 06

    So does this mean the USA now owns the Manchester United Football club?

    Now, that’s change I can believe in :)

    I’m sure the Brits will love this!

  • Boxer Mum 06

    http://www.manutd.com/default.sps?pagegid=%7B235041b8-c516-4517-8d04-aeebb5882b8a%7D&sponsors=aig

    Manchester United’s four-year 56.5 million agreement with American International Group, Inc. (AIG) is the biggest shirt sponsorship deal in English football.

    AIG is the leading international insurance and financial services organisation with operations in more than 130 countries and jurisdictions.

    AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world.

    AIG’s common stock is listed in the U.S. on the New York Stock Exchange as well as the stock exchanges in London, Paris, Switzerland and Tokyo.

  • Dawnelle

    :-0 say what? (draggin my jaw on the floor)

    too much
    just too much
    they’re all drunk with power
    drunk & dangerous

  • John Smith

    I think the problem is big that nobody knows what to do. What thing is for sure, if they are not letting people know what they are doing is because they are not sure that they are doing the right thing. I guess this whole thing is turning into a big crap shoot.

  • Dawnelle

    roflmao! excellent!

    money talks (with barry’s peeps)

  • lark

    The headlines in Yahoo reads,

    Wall Street Lower as Economic Worries Take Over- AP

    It should read,

    Wall Streets slides when the reality of an Obama Bush encounter reveals the sad state of America’s decision making quality.

    Here’s me reporting.

    Bush and Obama meet in the White House and suddenly it dawn upon the investment world that we have gone from bad to worse and no amount of change can be viewed as positive from that perspective. The market’s best option: bury the profits in a remote island in the Pacific.

  • lark

    Good point.

  • Dawnelle

    I thought that said HiLLary instead of HiLarry

    anyway, (whom ever you may be)

    the OBots would cheer at the tape – doh

    the rest of us (who love America just the way it is and don’t want any one else messing with it cuz W was bad enough) would just FLIP at it’s coming out so frigging late!!! That’s a LOT of PUMA’s imploding at once!

    unless there is some LAW in there that can be worked out before JAN – I now hope it never comes out.

    if it ever existed

  • bert

    Does any one remember “welfare queens?” Poor folks who cheated the system and drove Cadillac’s and all that? Little if any of it was true. But that didn’t matter. Conservatives used to beat Liberals over the head with talk of ‘welfare queens’ every election.

    I think we need a name like that for these folks. Maybe ‘welfare shits,’ or ‘welfare millionaires’, ‘welfare big shots.’ Something we can start calling them that encapsulates what they are doing to our paychecks, our budget, our country. Becasue that is what all these folks are – reverse welfare queens.

  • Dawnelle

    find those coordinates!!! hehehe!

  • Dawnelle

    true and most of those well (not so) fair baron robbers are repugs too aren’t they?

  • SeanceintheWestwing

    Sorry to be off topic but the server is working really poorly today. Maybe time for expansion and fundraising for NQ.

  • http://home.comcast.net/~vincep312 VinceP1974

    The collapse of the Dollar is right around the corner. I’ve been saying it for months.

    And for those people attacking Conservatives for what Bush is doing… you may take note that Conservatives walked away from the GOP in 2006 because the GOP has NOT been operating under conservative princples, the GOP/Bush was operating under Democratic Party Lite princples.

    Conservativism would never have led to the situation we are in, because we would never have forced the Community Reinvestment Act onto banks, nor compell them to make fundamentally unsound loans.

    That is the root of the problem.

    And also, it would say, let the market place work and these companies go under.

    Unfortunately the govt interferred with the market in such a gross and profound manner.. especially with the Printing Press of Bad Loans, Fannie/Freddie.

    The CRA, FM and FM are what socialized the banking system, not this recesion. The decision for the Government to owe banks was made when the Govt told banks to make bad loans and then sell to FM because , hey why not , FM is backed by the FULL FAITH and CREDIT of the US Govt.

  • Dawnelle
  • http://home.comcast.net/~vincep312 VinceP1974

    Don’t blame this on Conservatives. See my comment made at 2008-11-10 13:34:18 .

    And it would be appreciated if you didn’t call half the country repugnant.

  • Dawnelle

    we’re all sure it never existed

    who is WE?

    and what? do you need a good CHEER like I said Obots would CHEER? Right?

    what would watching it NOW do for YOU personally?

    or is this all about trying to expose Larry for something?

    How does your LIFE matter to YOU?

    or is it all about the O? (puke)

  • http://www.wewillnotbesilenced2008.com OBAMA IS A FRAUD

    Really pisses me off. The Dems caused this and just because Bush is GOP they blame us. Funny, not ONE Republican was involved in Freddie and Fannie. That’s the corrupt Dems who tried to force WELFARE on us. Good luck with that. From Carter, to Clinton to the freaks in Congress, the only hero in this are the Republicans (McCain) who tried to pass oversight in 2005. Period. Now look where we are. OVomit and his liberal wing nuts in Congress once and for all ending America and the Dollar.

    By the way, I hear rumblings in the Dems that they are ALREADY pissed now that they know OVomit has to use any and all resources he has to hand over to Paulsen and Soros. No free ride for the wing nuts.

  • http://www.wewillnotbesilenced2008.com OBAMA IS A FRAUD

    Of course the tape exists. Duh. Just because someone chose not to make it an issue in this fraudulent “selection” of a campaign doesn’t mean it doesn’t exist. Hell, knowing what we know about Bigfoot Michelle, I bet there are 1,000 tapes all over of her screaming “screw whitey.” Read her thesis. Not that big of a stretch to think that someone who writes that CRAP would actually verbalize their thoughts. She’s a racist POS. Period.

  • Typewriterstreaming

    Hear! Hear! I’m a liberal PUMA and I agree with you,
    Comment by VinceP1974 | 2008-11-10 13:34:18.

    People are blaming Conservatives and Republicans
    because Obama did a hell of a job spinning.And the MSM continues to sit by and say nothing.

  • http://home.comcast.net/~vincep312 VinceP1974

    The reason they’re bailing out AIG is because technically , the company should be out of business.

    However, what they learned from Lehman Brothers going under is that the ripple effects damage everything around it.

    From what I understand, almost everything significant around the world is connected to AIG and if AIG goes under it will take a lot with it.

    This creates a bit of anger towards the US from other countries.

    So these bailouts are desperate attempt to delay the inevitible… the total collapse of almost everything.

  • Dawnelle

    damn if I were to read her thesis NOW it would only be WORSE for the way I already SERIOUSLY DISLIKE that THANG Woman.

  • AnninCA

    The story of AIG and the wasteful spending of taxpayer dollars is one that just simply makes my blood pressure go up.

    I cannot participate, even. I refuse to let those corporate jerks ruin my day.

    I read such high-flown rhetoric over mostly peanut stuff every day.

    THIS situation is one that the word, shameful, should be used.

    It’s the essence of this problem, too. These corporate tycoons are disdainful of their true ethical responsibilities in life.

    They are a plague on capitalism.

  • Dawnelle

    lol oops I meant to strike it OUT not highlight it.

    that evil Miss Thang ;-)

  • http://www.wewillnotbesilenced2008.com OBAMA IS A FRAUD

    You would bust a gut laughing. If anyone else turned in a thesis so poorly written, so full of typos and bad grammar….ughhh….Read it some time. But make sure you have a barf bag.

  • lark

    I accept your analysis with dismay. I have no idea what to do. All I see is that Obama will inherit this mess with Pelozi and Reed at the helm. In a way it couldn’t be worse. Obama’s ambiguousness wouldn’t be a problem if he was a decision maker. But being that he isn’t, only chaos and paralysis can be projected forward. This looks like a real implosion and as hard and difficult to say, an Al Quaida/Bin Ladin victory in the making. It looks like as historians like to say, Regan sank the USSR but Al Quaida and the Taliban are about to sink us just by letting us be.

  • Dawnelle

    true it’s an old habit that’s dying hard as I am NOW neither D or R but I

    not all republicans are rethugs or repugs true enough! bygones! :-)

    but (and there always is one)

    I am speaking for the heinous in both parties
    this year is seems the D’s are far outweighing their counterparts in the HEINOUS dept.

  • AnninCA

    Wrong. I had to edit my former husband’s PhD thesis.

    Trust me. The teachers don’t always have very good skills. LOL*

    This is not the era of grammar and punctuation.

  • http://www.deathofthedemocraticparty.com xax

    Update: Congress apparently feels even more sorry for AIG and Mr. Greenberg’s holdings than we do. They are going to give AIG another $41,000,000,000

    This Congress will be gone by 2010. 2009 if we all storm the capital. Pitchforks and all.

    LOL.

  • Typewriterstreaming

    This story is such a disgrace. Thanks for the post, but really AIG get a life. We are being sucked stone dry. I read on Drudge that the Fed refuses to id 2 billion worth of money it shelled out. How’s that possible???? Then I read how the Post Office is going to lay off 40,000 people. Wow. That is a nightmare. This is horrible. Screw AIG put that money in a new industry and hire the people who have been laid off first.

  • http://www.deathofthedemocraticparty.com xax

    true.

  • http://www.wewillnotbesilenced2008.com OBAMA IS A FRAUD

    Sorry Ann, WRONG…I don’t have those issues and nor do my colleagues. And I certainly would not have had a free ride to Ivy League Schools if I could not read or write the English language. Give the troll crap a rest for God’s sake.

  • SueM

    I don’t even know what to say anymore.

    It’s just one thing after another.

  • http://www.deathofthedemocraticparty.com xax

    Anyone know hoe to check on the health of a bank?

    I need to gauge when I should start putting money away in a vault.

  • http://www.deathofthedemocraticparty.com xax

    “hoe” should be “how”

  • anne

    Hi Dawnelle – this is about holding Larry Johnson to the same accountability that he publicizes and demands for so much.

    He HOPES that tape exists, he POSTED about having MULTIPLE SOURCES claiming the tape existed, and has yet to respond to his claims.

    Further, he has been unresponsive to emails and comments continue to be deleted when asked to be held accountable for making such a claim.

    In all – he’s a loser.

  • AnninCA

    I think the story of Detroit showing up with their hands out is more significant.

    First the airlines, now car industry.

    This won’t work.

    If we can’t produce cars, then ….. let it go.

    If we can’t provide air travel……..let it go.

    I’m rather done with the industrial handouts.

    The bailout to finance? OK. That’s global, necessary, and stupid….

    But we can’t prop up every bad industry.

    Nobody wants American cars. So shut her down.

    And put the money into retraining for workers.

    But DON’T throw money down a rathole.

  • http://home.comcast.net/~vincep312 VinceP1974

    No prob. I know what you mean about old habits. I re-read about 5 times my comments before hitting send because sometimes i let slip something that I knew would have pissed off everyone and I really try not to do that, but I still do occasionally.

    People in Washington DC.. as a whole (both parties) have failed this country. Though fundamentally , we people have failed ourselves because the post-WW-II generations have either not been taught or have refused to pass on what it means to be an American citiizen.

  • jomama

    When I bought a home in 1991, the mortgage co. pushed and pushed for me to take a loan for 4X the amount I could afford. They offered ‘special’ financing because I was a single mom; no down payment, etc. When I refused, they put me through the wringer because my down payment was cash. “CASH? We can’t accept cash.”
    I did eventually get the terms I wanted, but I really had to fight for them.

  • AnninCA

    Sue, it’ll get worse, not better.

    Next year? Then comes the regulators.

    I worked in the S&L industry for part of my career. We would loosen up on regulations, then the losses would go up, then we’d swing back and you could hardly cash a check. Back and forth.

  • lark

    I disagree in one item. Clinton chose Greenspan because (I think) he was a Republican. Then Greenspan met with Bush and Bush took him under his wing. In my mind the sole culprit of this debacle is Greenspan. Why? Because he met so many time with Congress and assured them that the issues with FM/FM were kind of superficial and inconsequential.

    I don’t disagree with the rest and how the Dems promoted irresponsible behavior but Reps remained for the most silent because Greenspan was always reassuring everyone that things were mostly going in the right track. He was the one that prevented all these politicians from coming to a consensus.

    Greenspan should be send packing out the country without a penny to his name. But lucky for him we have a Constitution.

  • http://www.wewillnotbesilenced2008.com OBAMA IS A FRAUD

    Here’s a friend of mine’s latest theory on what’s next…

    From Obama’s The Audacity of Hope:

    “Of course, not all my conversations in immigrant communities follow this easy pattern. In the wake of 9/11, my meetings with Arab and Pakistani Americans, for example, have a more urgent quality, for the stories of detentions and FBI questioning and hard stares from neighbors have shaken their sense of security and belonging. They have been reminded that the history of immigration in this country has a dark underbelly; they need specific reassurances that their citizenship really means something, that America has learned the right lessons from the Japanese internments during World War II, and that I will stand with them should the political winds shift in an ugly direction.”

    ***

    Hmmm. Well, “them” is Muslim Americans, isn’t it? (I don’t want anyone locked up for their beliefs alone, or their nationality, like the Japanese, of course.)

    So now apparently Osama bin Laden is promising a bigger attack that 9/11 on the U.S.

    We do know for a fact (it’s on video on YouTube) that Louis Farrakhan, Obama’s neighbor in Chicago, says he’s “the Messiah.”

    We also know that Obama announced (it’s on video on YouTube) that he wants a Civilian Defense Force equaling the U.S. military.

    So let’s say Al Qaida does hit the U.S. bigger than it did on 9/11, after Obama takes office.

    Then he says “told you so” and rushes through a plan for the Civilian Defense Force, to employ all the folks out of work. And since they don’t want to be out of work again, they do what they’re told to do. Supposedly it’s to root out “radicals” in the U.S., which might include people who are gun owners and vocally opposed to the administration. You know, anyone who might be a “threat”.

    And the trainers could come in large part from Black Muslims in the inner cities?

    Now, gee, I wouldn’t want anyone to think that might look like a large worldwide coordinated Muslim plan. But would you buy that scenario in a novel? A movie?

  • Dawnelle

    well I guess it depends on how many times you have bugged the hell out of him for something he said he HIMSELF could not produce

    never did he say he would produce it

    it’s too late now anyway

    maybe crow is harder for some to swallow?
    (if that’s what it is)

    who cares?

    did you vote for fraudbama? if so then you GOT what you wanted – being vindictive only makes you look more ugly

  • http://home.comcast.net/~vincep312 VinceP1974

    The FDIC guarantees your money. If your bank goes under, you will get your money.

    Now I know many of you are saying “well what if so many banks are going under that they run out of money.”

    In that case, we’re in the middle of something much much much larger, and i doubt that even if you had money, that it would have any value whatsoever.

    The Dollar is going to collapse. It’s the last asset Bubble and it will pop.

  • Diana L. C.

    If there were the Wright tapes and the Pfleger tapes, I am sure there is one with Michelle.

    Dawnelle is right: No one who has drunk the Obama Kool Aid cares about any negatives about him or his connections. Every time I show the video of caucus fraud, or point to Dr. Long’s website, or give the information about the illegal money collection on his website, or show the proof of his close connections with all kinds of anti-American people, they just say something to the effect: “All politicians are dirty, so what?”

  • Dawnelle

    I would agree with all of that and add an apology for my constant cussing! ARGH I try to hold it back but this whole subject is like ONE HUGE SWEAR WORD!

    lol

  • http://www.deathofthedemocraticparty.com xax

    Thanks.

    But the FDIC doesn’t mean squat to me anymore. The government is so busy handing out money that by the time they are finished printing enough to cover everyone, what ever meager earnings I have will be worth 1/2.

  • AnninCA

    Oh gosh, I don’t agree. I think Greenspan is shocked by the lack of intelligence by the business acumen in the financial industry.

    I’m not, but I worked with 5 major CEOs in my day.

    They weren’t all that bright.

    I know that sounds outrageous, but that’s what I finally figured out. They just weren’t all that bright.

    CEOs are a bit like …. politicians. They are “big picture” thinkers. They really aren’t all that smart. And they can be so easily schmoozed by sharp financial guys.

    I saw it happen regularly.

    In my own personal history, this lead to a “reverse split stock” where for every 5 shares of stock, you got 1. Euro-trash picked up the rest. Stockholders, bend over.

    And THIS was considered a “success” of that era.

    I repeat. Greenspan is guilty of respecting his peers entirely too much.

    They are, in fact, not very bright.

    Look at the stupid expenditures of AIG. Who thought this was bright? Someone turn the company over to a staffer in marketing?

    Good gravy.

    Same story. 10 years later.

    Business CEOs who made boatloads of money got entirely too much credit in the last decade. That doesn’t equate with brains.

    It does equate with greed. And that’s all.

    McCain and Palin were dead-spot on.

    This crisis is a crisis of capitalistic greed.

    A lower level of it? Earmarks.

    John may not have gotten people to pay attention, but that doesn’t mean he wasn’t right.

  • http://home.comcast.net/~vincep312 VinceP1974

    Republicans were never silent about this.

    Phil Gramm warned about it in the 90s when CRA was being expanded.

    April 15, 1998: Franklin D. Raines, whose low-key pragmatism helped President Clinton bridge partisan differences to close the 1997 balanced-budget deal with congressional Republicans, announces he will step down after less than two years as White House budget director to become chairman and chief executive of Fannie Mae.

    Jan. 15, 1999: In a move designed to help home buyers with good credit but small savings, Fannie Mae says it will reduce the amount of mortgage insurance required for borrowers who make down payments of less than 20 percent of a home’s purchase price.

    March 15, 2000: Fannie Mae, the nation’s largest provider of mortgage funding for U.S. home buyers, said yesterday that it will earmark $2 trillion over the next decade for loans to minorities, families headed by women, new immigrants and other underserved consumers.

    July 25, 2000: Congress should examine whether the special benefits it has provided to Fannie Mae, Freddie Mac and other government-sponsored enterprises are necessary, Federal Reserve Board Chairman Alan Greenspan says.

    Feb. 5, 2002: Fannie Mae and Freddie Mac face higher risks as their growth outpaces the market and they fund that growth with debt, the Bush administration warns in its 2003 budget.

    2003

    March 10: Fannie Mae and Freddie Mac pose “a fundamental risk to the continuing stability of our financial system” because they do not have nearly enough capital to survive a major financial shock, says William Poole, president of the St. Louis Federal Reserve Bank. Fannie Mae says it has ample capital and liquidity to withstand unexpected market developments

    June 12: Treasury Secretary John W. Snow calls for closer scrutiny of and better disclosure from Freddie Mac and Fannie Mae, just days after Freddie Mac ousted its three top executives in the midst of an accounting probe.

    11/11/03 – White House chief economist N. Gregory Mankiw dares to tell the truth about Fannie Mae and Freddie Mac. The mortgage giants were not amused, which means we’re getting somewhere.

    12/23/03 – The Federal Reserve Board releases a new staff study about the impact of taxpayer subsidies for Fannie Mae and Freddie Mac.

    02/25/04 – Alan Greenspan puts his credibility behind the cause of reforming Fannie Mae and Freddie Mac.

    10/14/04 – There were many moments of high entertainment during the House hearings on Fannie Mae’s creative accounting. But our favorite was the Mister Magoo performance given by Barney Frank (D., Massachusetts).

    and on and on and on

  • http://home.comcast.net/~vincep312 VinceP1974

    I know what you mean. but think about it.. if the FDIC goes caput. do you think your money has meaning anymore?

  • AnninCA

    You’re fine as long as you’re under the guidelines of FDIC.

    At worst, you’d have to wait a bit to get your money out.

    I personally have a couple of small accounts with “pin” money just in case.

    I steer clear of small independent banks. They are highly vulnerable right now.

    Big names only.

    My bank is WAMU. When it went down, I didn’t even blink. Nothing changed. Just the owner.

  • http://www.wewillnotbesilenced2008.com OBAMA IS A FRAUD

    Imagine what an embarrassment you are for voting for him. Good luck with that. Come back in six months when you are homeless and starving because your boss really doesn’t give a crap about you and lied to get your vote. Pathetic people like YOU are the economic demographic to lose everything you own FIRST. The rest of us already moved our money.

  • Typewriterstreaming

    I buy it.

  • AnninCA

    Not everyone here is interested in the least in the birth certificate meme.

    We are not all alike.

  • Steve_in_KC

    I guess this whole thing is turning into a big crap shoot pile .

    Fixed that for you, John. :)

  • Steve_in_KC

    Well, I tried to anyway. Damn html!

  • http://home.comcast.net/~vincep312 VinceP1974

    spend your money now while it still has value….

    From the WSJ..

    Pay As You Go Is Gone

    As Congress gears up to pass another spending “stimulus” bill, there’s one political silver lining: Democrats are being forced to abandon the pretense of fiscal conservatism known as “pay as you go” budgeting.

    Late last week the leader of the House Blue Dog Coalition, Tennessee Democrat Jim Cooper, announced that with Barack Obama about to enter the White House, “I’m not sure the old rules are relevant anymore.” Why not? Because, Mr. Cooper said, “It would be unfair to the new President to put him in a budget straitjacket.”

    Democrats ran on “paygo” in 2006, promising to offset any new spending increases or tax cuts with comparable tax increases or spending cuts. Once in charge on Capitol Hill they quickly made exceptions, waiving paygo no fewer than 12 times to accommodate some $398 billion in new deficit spending — not that the press corps bothered to notice. That didn’t stop Majority Leader Steny Hoyer from announcing in May that “We’re absolutely committed to paygo. Speaker [Nancy Pelosi] is committed to paygo. I’m very committed to paygo. Our caucus is committed to paygo.”

    Yet now Mr. Cooper is delivering official last rites, as the Washington spending machinery powers up in earnest. Paygo was always a big con designed not to reduce spending but to stop tax cuts. It was invented to stop the GOP Congress and then a Republican President, but it is inconvenient when Democrats run the show. With the recession available as an excuse for just about anything, get ready for the first $1 trillion federal budget deficit. And don’t expect any howling from the Blue Dogs.

  • AnninCA

    Not that you’ll believe me, but that ex-husband?

    He’s now the chairman of a journalism department that has produced probably a lion’s share of today’s top journalists.

    I really do know my journalism 101, what’s going on in that world, and why you might be shocked….but I’m not.

    I frankly have great personal guilt because I wrote his thesis for him and dragged him through tenure.

    Now, he’s in charge of turning out journalists. LOL*

    *lesson learned*

    I was a bit too much of a “good wife” behind the scenes.

    In any case, your harping on Michelle’s these makes me laugh.

    It’s so not relevant.

  • lark

    We can produce cars. Is just that a car like the 1961 Comet or the 1960 Falcon are out the question today. We need to let these companies go out of business and allow new car companies to emerge that can produce simple cars with few adornments and safety features. Then we need to adapt our lives to these new ways of moving us around. I believe we don’t need cars with heavy doors and windshields and all of those other fancy things. We should be able to move around town in electric cars similar to golf carts. And yes I should be able to build my own car in my garage.

  • Joe The Citizen

    Hint. Hint. All the tapes on Obama and friends were found online. And not just by opposition research. Go and look. Even youtube has hundreds of videos that the media will likely NEVER show. If you are clever you can find a lot more incredible videos to satisfy your craving.

    Keep in mind that tapes of Obama himself speaking might get noticed. Associates and spouses – not so much.

  • http://www.wewillnotbesilenced2008.com OBAMA IS A FRAUD

    Like I said…anyone with a brain knows the middle class is the first to go. You people don’t get it. And you destroyed our country with your reckless voting.

  • Cathy6224

    Personally I am sick of bailing out corrupt corporations. I am sorry if people will lose jobs, however I say let them go out of business. The more the government helps them, the less they will worry how they run the company.

    Its BS and the Federal Government needs to stop bailing out corporations run by greedy people who run it into the ground.

    Although all that money they lost probably went to their choice of presidential candidate. What do you all think?

  • Joe The Citizen

    I do not care where Obama was born. Most of us do not care. Though if it helped eliminate him, I would not shed a tear.

    We are concerned with the loss of Democracy.
    That’s what we will stay vigilant on.

    You are the sorest cheaters I mean winners in history!!!

    Go revel somewhere, ok?

  • http://www.wewillnotbesilenced2008.com OBAMA IS A FRAUD

    What a jerk. Why do you trolls bother to come here if the truth hurts so much? Since you are so miserable…the Daily Kook is available. And surprise, surprise AnninCa is back to bashing us with trolls. As for the “race card?” Maybe you didn’t notice that the black guy won. So now you have to retire you bullshite race card “victim” crap.

  • AnninCA

    Well, I will agree with you that I take flack because I’m not in the “birth certificate” crowd.

    I was banned, then invited back.

    So I’m willing to see where the blog grows to being.

    I can state this without a shred of apology.

    I really like Larry J.’s perspective and articles. Ditto for LD. And I think that there are some really good “softer” writers here, too, such as Truthteller.

    I don’t want to leave out anyone. Uppity is provocative, but she has good points she makes.

    Etc.

    But…..but…..

    I like other blogs, too. Some moderate, like Pajamas Media. That doesn’t bug me. The commentary is thoughtful, the articles are really sharp.

    These conservative blogs are as good as the liberal blogs I tried. Talk Left, for example?

    There are as many “off-the-wall” stories as on here.

    Just the wall is slightly different.

    So I don’t judge.

  • AnninCA

    The election is over.

    A sign of maturity is to accept that.

    We’ll see if you move forward.

    Frankly, I doubt it. I think you’ve turned into a bit of a troll.

    Word to the wise. Nobody is interested in your bitter feelings.

    Move on.

  • http://rabblerouserruminations.blogspot.com Rabble Rouser Reverend Amy

    Oh, I could get behind that “change,” too – Man U!!! Woohoo!!!

    And how abt Ford/GM wanting bailouts to pay retirement and ins. costs for the labor union? I’m all for unions, but I sure as hell am not for OUR Taxpaying dollars to pay for basic employment expenses for the company. To say that is poor money management is an understatement, I know, but why the heck should WE have to pay those fees???

  • mimi

    Oh grow up people and get a life!

    The so-called mysterious ‘whitey tape’ is meaningless now.

    If you all proceed along this line of attack, all you will do is provoke his kool-aid drinking Botheads to circle the wagons around him and his wife. Then he will be able to rule with impugnity.

    This is what he would want. So good job at helping 0bama.

    I wish the Administrators on this site would start deleting any mention of this tape.

    The election is over!

    10 million Republicans stayed home.

    Get it?

    They don’t want the WH right now and certainly not with McCain/Palin. On top of that, 0bama won 67% of the Latino vote, he won the Jewish vote, and he also won the female vote (something that still boggles my mind.) AAs were not the only ones responsible for putting this man in office. PUMAs fizzled out at the end.

    It’s over! This is not the same country as in 1968, 1972, 1980, and 1988. Those years did not have George W. Bush and Dick Cheney. And there’s a younger generation that is way more comfortable with AAs and other minorities. They truly do live in a post-racial world. Don’t any of you ever check in on MTV or what younger people watch?

    I’m as bitter about this as any of you. Election night was one of the worst experiences in my life. I was sick for a good 72 hours. But I can’t let my bitterness and anger make me do stupid things like constantly engage this man on a negative basis even before he takes office. I have enough rational thought to realize that if I do that, things will really go his way.

    BE PATIENT!

    We have no choice because we were never able to come up with the provable goods on 0bama. And now it’s too late. The Election is a fait a compli. So deal with it! And stop this bullshit.

    It’s time to make lemonade out of the lemons we were handed. I’m pushing the ‘post-racial meme’. I don’t even want to hear anything else. And if you don’t pay attention, the rabble rousers like Farrakahn will start their bullshit in order to incite confrontation. And that will only help 0bama. I’m also letting the chips fall where they may on women’s issues right now. Let these young gals who voted for him eat shit. Let’s see how much they can digest.

    If they didn’t impeach Bush/Cheney, who surely deserved it, then how do you think it looks to be calling for a president-elect’s impeachment when he hasn’t even had a chance to govern? All you’ll be doing is manufacturing a whole new line of race cards.

    Burn them. It’s over and 0bama has ushered in a new day.

    Give this narcissicist all the room he needs to self-destruct. Don’t play into his crafty hands. If we’ve learned nothing this last year, we should have learned that. The msm is still against us. Look at what they are doing to Palin. Don’t give them any more material. Let the focus be on 0bama. So they have to report on what he’s doing.

  • http://www.wewillnotbesilenced2008.com OBAMA IS A FRAUD

    I will move forward Ann-the-Troll who loves Obama. I will move forward with all of the Anti-Obama movements that have been organized by people who love this country. And, actually, more people complain about you being a TROLL than anything I have ever seen on this blog. Everyone says it.

  • AnninCA

    Good for you. Join the wars.

  • http://www.wewillnotbesilenced2008.com OBAMA IS A FRAUD

    It’s the trolls who bring up the tape. But that’s what they want…to incite these kind of posts. If they are attacking Larry and saying he lied, maybe he wants to say something about that or do some troll control. I couldn’t care less about that tape. There’s better stuff to deal with.

  • anne

    Dear OBAMA IS A FRAUD:

    If I had to guess, I would say several if not all of the following is true:

    a. You live in the south
    b. You don’t have a college degree
    b2. If you do, you’re over 65
    c. You just got a computer and learned to read blogs about a year ago
    d. You play Dungeons and Dragons
    e. You’re a religious nut
    f. You can’t wrap your tiny little mind around the fact that people can love this country and disagree with you
    g. You’re single (and lonely)
    h. You grumble to yourself in the shower
    i. You’ve been fired for being incompetent at least once in your life
    j. You have a history of emotional instability or a problem with gambling

  • http://www.wewillnotbesilenced2008.com OBAMA IS A FRAUD

    Freedom of the Vote

    Freedom of Speech

    Indentured Servitude

    Freedom to Bear Arms

    Eligibility to be POTUS

    1st, 2nd and 13th Amendments to the Constitution, as well as Article 2. Are you SERIOUS? What planet do you live on? Let’s talk about the VOTER FRAUD…did you ever bother to read the Constitution? One person, ONE VOTE? ROFLMAO. Where do they get you people? The Fairness Doctrine? BIG VIOLATION OF FREEDOM OF SPEECH. Gun ban? There goes our right to bear arms. “Required Community Service?” THAT’S INDENTURED SERVITUDE. Wow. Put those people back on the PLANTATION. Do you not listen to your boss’s PLANS to screw this country?

  • AnninCA

    Fight! Fight! Fight!

    Shake those pom-poms.

  • anne

    Is it that you love being a contrarianist, or do you just believe that your dog talks to you, too?

    Freedom of the Vote – did you get to vote? Then shut up.

    Freedom of Speech – actually, it’s the PATRIOT Act that takes that away, which will hopefully be overturned shortly.

    The Obama Administration will not take away your gun. Ever.

    Indentured Servitude – are. you. fucking. kidding me? By offering to subsidize college tuition for students who OPT for a year or two of VISTA service, we’re reinstituting slavery?

    You are unbelivable. You are why I left the Republican party and will never look back.

  • http://rabblerouserruminations.blogspot.com Rabble Rouser Reverend Amy

    As one of my fellow writers says, this is the BEST way to deal with these “Whitey Tape” Trolls (who CLEARLY have difficulty with reading comprehension from all that has been written on these tapes):

    “Anne, the Bot says:
    Blah, blah, blah, blah, tape, blah
    Blah, blah, tape-tapey-tape-tape, blah, blah
    Blah, blah, tapester, blah”

    Now – can we PLEASE return to the issue of Uppity’s fine post??? Thanks!

  • AnninCA

    I relate, but on the opposite side.

    After the antics of the DNC, I turned away from Democrats and, also, won’t look back.

    I don’t care what the insider politics are now.

    Each choice that affects people will be evaluated on the merits of that choice.

    Nothing more.

    That’s what happens when you lose loyalty.

    You must stand on the merits of your choices.

    Obama’s first press conference?

    F.

    He was off the teleprompter, and sure enough, his snotty attitude ended up in having to make a call and apologize to Nancy Reagan.

    I personally fantasize that she gives an interview soon and says to the reporter, “You are free to ask me if that conversation was really warm. I’ll answer that.”

    His first press conference was a disaster, in my opinion. He stuck to his script. He manhandled the press. BUT…he still managed to embarass himself.

    Why?

    He’s not ready.

    The reason the press pounds on Palin? It’s all the fears they have, rightfully, about Obama.

    He’s not ready for the job.

    And we all know it.

  • sproutingly

    You are a big sore winner.

  • eurogirl70

    Back in 2004, when Howard Dean made his bid for the White House, he offered up a challenge to Democrat’s. He said that we needed to start acting like Democrat’s and not “Republican-lite”.

    Fast-Forward to 2008. Obama is nothing if not “Republican-lite”.

    1. Called Reagan a “transcendental” figure. [Any self-repsecting Democrat who harkins back to the 1980's as "good times" is an ignorant ass. We rang up record deficits, until George W came on the scene, we circumvented the United States Congress by doing arms deals with Iran while taking those monies earned and funding an unauthorized war in Nicaragua. Reagan didn't mention AIDS until 1987, thinking it was only a gay disease and so therefore offering no funding or support for treatment and research. Reagan had his soon-to-be CIA director William Casey persuade the Ayatollah to hold onto the hostages until AFTER the election of 1980. Reagan kicked off his election in 1980 in Philadelphia Mississippi where (3) Civil Rights workers were murdered and referenced the importance of "states rights" in his kick-off speech.
    Yeah Anne, I feel all warm and fuzzy!

    2. Obama castigasts and disparages Hillary Clinton's health care plan and claims that his own plan is "universal" when at minimum 15 and at max 30 million Americans will remain uncovered. Currently there are 43 million Americans without coverage of any kind. How big a dent in this problem will his own plan make in the overall scheme of things? [Especially while we the American taxpayers bail out companies like Goldman Sachs and AIG, which have been BIG contributors to Senator Obama's presidential aspirations.]-Mind you when Kerry was running for President in 2004, it was all about universal healthcare. When Kerry decided to throw his lot in with Obama, after Hillary would not offer him the position of Secretary of State in her own admin, he then said it was a “non-starter” in the Senate.

    Preventative medicine his a sure-fire way of keeping countries workforce productive. Not having to worry about bankruptcy over a health crisis will keep workers focused on producing high-quality goods and services.

    3. For any 1-term junior Senator from Illinois to be getting the kind of money he has been getting from Wall Street shows that he is no more a Democrat than I am a Libertarian. This is a man who signed a pledge to bring change to the White House. This is a man who signed a pledge to only accept federal matching funds in the general election and then reneged on that.

    4. This is a man who said that anyone who voted yes on the Iraq War resolution should be side-lined from the White House. I guess that didn’t include his Chief of Staff Rahm Emmanuel, his Vice President Joe Biden, or his [probable] Secretary of State John Kerry.

    5. We all now know that Obama would have voted YES on the IWR because he voted YES to give retro-active immunity to the telemcom industry for spying on American citizens without a warrent obtained within 72 hours from the FISA court.

    6. Obama voted YES on the Bush/Cheney Energy bill.

    7. Obama voted yes on Congress getting involved in the Terri Shiavo “right to die” case.

    8. Obama talks about equality and yet goes on the gospel circuit with men like Rev. Meeks and Donnie McClurkin. The former saying that gays are evil, and the latter saying that he was “cured” of his “gayness” by Jesus. Obama took money from SF residents and then told former SF mayor Willie Brown he did not want to have any photos taken with current SF mayor Gavin Newsome, who is straight but supports gay rights.

    9. Obama railed against Pennsylvanians who cling to “God” but what kept his ass is a pew listening to the tirades of Rev. Wright? [Rev Wright had no qualms about taking Bill Clinton to task for "riding dirty" but guess who has just been named in the divorce proceedings of a 37 year old white woman in Texas? Yes Anne, you guessed it, none other than good old Rev. Wright himself. Talk about "talking the talk" but not "walking the walk".

    So Anne, to give you food for thought about my own demographics.

    I am a 38 year old lesbian of the Portia Di Rossi kind. I make over $50,000+ a year and live in the DC/Capital Beltway. I hold a Masters in International Relations. I eat sushi and own a Francis Francis espresso maker.

    My educational level, life, level of employment, and even the fact that I am part AA 2 generations back would lead everyone to believe that I should have and would have voted for this man. Not a chance. My reasons for not voting for Senator [now President-elect] Obama is that his is a know-nothing arrogant ass is the same vein as George W. Bush; another man I did not vote for]

    This so-called Democratic Congress will roll over for Obama the same way that the formerly Republican-held Congress rolled over for Bush. Since I could not have the kind of true FDR-styled government needed to get this country back on track, then I would rather have had an adversarial government with some bi-partisanship between the executive and legislative branches. Instead we are back to 2000 in terms of executive style, substance, and ability level. [Sad indeed!]

  • AnninCA

    Your post made me laugh. I feel safe enough to ask,

    “What’s portia de rossi?”

    *clueless here*

  • Murray

    Bert: In spite of the crap that will be thrown at me for this, I must speak up: “Welfare Queens” are still alive and well.
    I know, because I live in the neighborhood. Cheap, old apartments that were sold as condominiums (without rehab-bing first). It’s the only thing that I could afford on a newly-divorced bookkeeper’s salary. My ex is a jobless bum, and I don’t have a dime to pay for a lawyer. Once a year, the state hauls us into court and threatens him, but to no avail.
    On the other hand, we have my neighbor, who happens to be named Michelle. She is very large and white and used to be a homeless crack ho’ in Ohio. Because she had a mixed-race addicted baby, taken away from her at birth & given to a foster couple, that made her eligible for ALL KINDS OF FREE GOVERNMENT $$$!!!
    She went through free rehabilitiation programs, free job training programs, got a job, a car, and a condo next to mine, (except hers is all nice and new inside – brand-new appliances, HVAC, brand-new wood floors, even!). When her baby girl was 3 years old, she was taken from the foster family in Ohio, and given back to Michelle.
    Gotta hand it to the gal, she’s keeping the job; keeping her nose clean.
    Meanwhile, I live with a 35-year-old furnace, broken windows, plumbing, etc., because I don’t qualify for a thing, because I worked and was a “good girl”.
    My other neighbor is divorced with 7 children. All the kids have cell phones, i-pods and great clothes. Both parents drive great vehicles (I don’t even have one).
    DON’T TELL ME THERE ARE NO WELFARE QUEENS (& KINGS).
    Thanks for letting me get that off my chest.

  • eurogirl70

    AnninCA:

    Simply put instead of being an “Ellen” lesbian I am a Portia de Rossi styled lesbian. She is Ellen’s wife [ for as long as all those YES voters on Proposition 8, who voted overwhelmingly for Obama, don’t decide to retroactively void their marriage license!

  • AnninCA

    Ohhhhhh! I don’t follow this stuff. Thanks for the clarification.

    I do like Ellen’s show, but I watch it, obviously, like a straight person probably watches.

    Her personal life never has particularly engaged my attention.

    Anyway, thank you for not being snotty and just giving me the information.

    It’s hard to be cool these days. *haha

  • eurogirl70

    No problems Annin and sometimes being cool is highly overrated.

    Cheers

  • beachnan

    You got your messiah, so why don’t you shut the hell up. I trust that Larry knew people, who knew about the tape. BTW, keep asking for it, and you might just get it, and then how will your new messiah look? I predict by the end of the next four years, you are going to wonder what you ever saw in this guy. No, go away.

  • Judy R

    Now don’t take this too personal, because it isn’t meant for you. I just thought I would say this to all of you. About ‘feeding the trolls,’ or anything else that comes your way. It’s real simple.

    Just because some one throws s**t at you, doesn’t mean you have to catch it!

    Just duck, and let it go. They would go away then. They are just pushing all your buttons at once, and you want to strike back. I really understand that, I’m the same way myself. Just because they are being dinks, doesn’t mean I have to go that way. Rise above it guys, we are better than that!!!!! There is another one I’d like to share with you.

    “When you are going through a field of s**t, now is not the time to sit down.”

    Another thing I’d like to say is this. I want to tell people alot of things right off the top of my head, you know the first thing that comes up. Some of which is not too nice. I always ask myself first, “Would I say this to Mother?”
    That has a habit of shutting me up.

    ‘Speaking for myself only.’

  • Rob G in Chicago

    Anne: How about you supplying a link to any statement from Larry that “he has it”? The quotation that you have provided says only that sources have told him about this tape. I don’t remember him ever having said on this blog that he has seen the tape or that he has the tape, so if you could provide a verifiable link to such a statement, then maybe you won’t look like such an ignorant ass.

  • Okie for Palin

    And remember Bush is a republican but was never a Conservative

  • Murray

    Cathy – I think you’re 100% right.

  • Wisewoman

    VinceP1974. I agree with you assessment, however you need to roll back the clock to 1995. Obama, is most responsible for the economic melt down and the lost of serious monies in people’s retiremen funds and 401ks. He was one of the lawyers who sued Citibank in Chicago in federal court (1995)accusing them of discrimination in housing lending and won (1998). Court entered consent decree mandating loans to risky borrowers (Link 1). Bill Clinton ws required by law to accomodate court order. If people ever find this out they will turn on Obama like a mad dog. Democrats stopped Repubs from putting regulations on Fannie Mae & Freddie Mac & prevented proper oversite (Link 2). Democrats & Obama are most responsible for Wall Street melt down. THIS IS THE TICKING TIME BOMB THAT THE MSM DID NOT REPORT BECAUSE OBAMA WOULD HAVE LOST THE ELECTION AND IF KNOWN NOW WOULD DESTROY HIS PRESIDENCY.
    Link 1: Legal document showing discrimination case, outcome, and attorneys of record. Find Obama’s name.
    Link 2: Watch third (Bill Clinton at 8 min mark), twelfth, and fourteenth video down on right side of page.

    http://clearinghouse.wustl.edu/detail.php?id=10112&search=source|general;caseCat|FH;orderby|caseName;

    http://www.youtube.com/watch?v=ivmL-lxNy64&feature=related

    People voted for the crooks who made them lose their money.

  • Wisewoman

    VinceP1974. I agree with you assessment, however you need to roll back the clock to 1995. Obama, is most responsible for the economic melt down and the loss of serious monies in people’s retiremen funds and 401ks. He was one of the lawyers who sued Citibank in Chicago in federal court (1995)accusing them of discrimination in housing lending and won (1998). Court entered consent decree mandating loans to risky borrowers (Link 1). Bill Clinton was required by law to accomodate court order. If people ever find this out they will turn on Obama like a mad dog. Democrats stopped Repubs from putting regulations on Fannie Mae & Freddie Mac & prevented proper oversite (Link 2). Democrats & Obama are most responsible for Wall Street melt down. THIS IS THE TICKING TIME BOMB THAT THE MSM DID NOT REPORT BECAUSE OBAMA WOULD HAVE LOST THE ELECTION AND IF KNOWN NOW WOULD DESTROY HIS PRESIDENCY.
    Link 1: Legal document showing discrimination case, outcome, and attorneys of record. Find Obama’s name.
    Link 2: Watch third (Bill Clinton at 8 min mark), twelfth, and fourteenth video down on right side of page.

    http://clearinghouse.wustl.edu/detail.php?id=10112&search=source|general;caseCat|FH;orderby|caseName;

    http://www.youtube.com/watch?v=ivmL-lxNy64&feature=related

    People voted for the crooks who made them lose their money.

  • beachnan

    I run a very small business, so if I go under, it will only effect 5 people. I understand that a lot of people will lose their jobs if we let the auto industry go under, but I think in the long run, this is not the way to go. Everyone will just keep expecting a handout. I certainly hope that the Democrats do not start spending willy nilly, just because there is no one to stop them. In the end, we will all lose.

  • MMiller

    Hi Uppity, How are you? I want to give you a little info about AIG, Sun America company. They were solvent and strong until the collapse of Freddie Mac and Fannie Mae. Their company is an insurance company that makes money two ways. The first is what you think..collect from people and companies who need insurance. These people and companies run the gamut of industry. Banks (FDIC), Brokerages (SIPC), unions, homes, manufacturors, suppliers, AMtrac..you name it-in one way or another everyone is insured by this company-unless the insurance is from another country.
    All of that said each and every failed mortgage is insured by this company ultimately.
    The second way this and other giant holding companies make money big time is through the profit of the funds they manage or pay to manage that are required minimums by the FEDS. Insurers typically charge you and me a minimum of dough and if they do not pay it out it stays in the fund and the managers of that fund or any other grow the money until it is needed for a disaster like Hurricane Katrina, Rita, a fire an accidental death, a large oil tanker sinking..an illness that just wont quit or whatever.
    You heard about the institutional sell off in the markets and program selling? Each of those managers for the billions of dollars are hired to protect the money. If the money is needed or if the stock market has a weakness the managers OK broad sell-offs of certain stocks to protect the fund so we can continue to be paid in case of a disaster. Usually these managers have programmed a sell off figure into their stock portfolio and if, lets say, GM starts to dip down because of bad earnings or no available credit, the funds dump their shares they are holding…resulting in millions of shares being sold. At the same time this goes on..some other funds are programmed to buy at a certain price..or what they consider a weakness price. That is what happens to the tow ways they make money.
    Now how this got to be as bad as it is-is sad. Once the banks won’t lend..that means no cash flow to pay things like the failed mortgages at FM and FM. No pay-no play and the repercussions continue all the eway to the insurers who ultimately pay for everything. Those bad boys Reines and Johnson let the fraud continue and actually caused this meltdown with Barney Frank and Chris Dodd lying to everyone saying both entities were fundamentally sound. Loads of investors bought worthless shares of these two companies who sold mortgages backed by the FEDS. So in fact we were robbed two times by the Dems already and are heading for the thied time with this bailout of 700Billion. We are being asked to bail out the automakers, not based on business conditions but on loan conditions. All the money they would have had access to is gone. So is the money banks would have lent to us. So again AIG will be called upon to bail out all the the suppliers, manufaturors and ‘folks’ who could have borrowed to buy or continue production. As an example GM spent 600 million of their own reserves to stay afloat until the borrowing conditions improved..you know what happened to that money…its paying for FM and FM.
    So thats the story sort of..of course it is much more detailed but I wanted to give you an overview. I also wanted to mention that the gala in California was not for their managers but for their salespeople who successfully sold the products that were sunk by Dodd, Frank, Reins and Johnson during the last two years of them controlling the congress. Time and time again, many regulators and spokespeople from John McCain and the NASD, SEC tried to implore congress for action..They wouldn’t budge and once again..we are paying.
    Interestingly-it is my belief that Obama wants to give back the empty homes to the poor ‘folks’ who lost them. I am not willing to pay a 4th time-are you?

  • POdVet

    Guantanamo does need to be addressed, it is a national disgrace. But I do not trust Obama to do it. It should have been turned over to a non-partisan committee with at least input from the UN. Now I know the UN is far less than perfect, but we NEED to re-introduce habeas corpus and show the world that we are a nation of laws once again. Unfortunately under Obama I have little doubt none of that will occur. Instead we will spend millions of dollars make a big show of treating them good in front of the cameras. And those with the deepest pockets will walk free while a token few poor whether they are the guilty ones or not will be convicted. In the end it may just come down to which had family members from the Middle East illegally donating to Obama’s campaign. Don’t think he’d dare do that? Then why is his friend and international fugitive Alsamarrae walking around free in Chicago?!?

  • POdVet

    Any part of a bail-out for Ford and GM should involve them producing high mileage and affordable cars built entirely from domestic parts! Think of a modern 100% American made vehicle in the same vein as Germany’s Volkswagen. Most of the rest of the world has a large assortment of 3cylinder vehicles, from 2 seaters up to small trucks. They are not fast off the line, but then since when does a family vehicle need to be race ready? Imagine if all the minivans in the US were European models. Instead of getting 24 mpg HWY, getting 37+ mpg HWY with diesel! That would benefit our country a hell of a lot more than making sure you have enough air pressure in your tires…

  • POdVet

    While I certainly agree that the DNC screwed the pooch on Fannie/Freddie. I can and do take umbrage with saying Bush was acting Democratic lite. That’s complete hogwash. Bush went entirely corrupt, giving billions in no-bid contracts to Haliburton for things that would have cost far less if the military was still doing it themselves! Not too mention they would have actually gotten what they paid for…I believe they are still waiting on $4 billion worth of stuff Haliburton NEVER delivered, and the money and equipment has been gone now for what..3 years?!?

blog comments powered by Disqus