Or more specifically Wayne Barrett? I urge everyone to read the rather lengthy article. To see the most important thing – what your vote does, what it allows, and what consequences come from it. Far from Mr. Barrett’s conclusions – I take umbrage with his not pointing out one thing:
“When HUD released the next set of goals in 2004, it reported that after Cuomo’s previous edict, there had been a sudden spurt of GSE subprime investment, “partly in response to higher affordable-housing goals set by HUD in 2000.” Fannie had gone from $1.2 billion in subprime-mortgage and securities purchases in 2000 to $9.2 billion in 2001 and $15 billion in 2002″
Emphasis is all mine! So from the years 2000-2004 (Bush’s First term) when there was nothing but a flurry of scrupulous lenders – who preyed upon the American Dream, who canvassed neighborhoods, took rolls of risky credit people & ramped it up. I remember the call to legislate against this sort of predatory lending – that fell on deaf ears, and was never appropriately handled by the Republican led congress, and certainly we had a president who had other things on his mind, like a war for Oil.
Far from making this a partisan screed, for if Clinton had a third term – undoubtedly I believe this may have gone on under him, since he loved lobbyists, and his centrist position, would have made him susceptible to this same thing. That is why I didn’t vote for Hillary – for their paybacks stretch back over many years. However, he would also have been the best to put in regulations on Hedge Funds and on the scrupulous lenders. Unlike President Bush – who needed the gains in the market at whatever risk to prop up his failed policies everywhere else and to get elected in 2004. Didn’t he also tell us how “sound” the economy was – while it was afloat or aloft on bad paper.
I don’t expect everyone to understand the complexities of our financial markets for I sure don’t, or why we bail out some (which are heavily invested in by the world) and let others fail. Yet I expect them to understand the rather simple idea of politics – you vote and those people make the laws that impact your life. There are three branches of government – two of which you elect firsthand. I didn’t vote for Cheney, errr, I mean Bush, and therefore think the economy and hence us – deserves whatever it gets. I’m more fiscally republican than Bush seems to be. Let the market decide – and were I your president – I’d have fired the Sec’y of Treasury and the Fed Chief, and let all of them collapse, NO BAILOUTS EVER. I’d like to see the world markets deal with that. Let the free markets and greed decide everything. Isn’t that the mantra when things are going good? Let the market decide.
Of course the ensuing apocalypse would be unprecedented and would probably remove America as one of the superpowers and reduce her to third world status. Instead we are held afloat and continue waging a war on terror largely financed by China who loves to do business with and undercut our authority everywhere – in fact the contracts the Western nations won in Iraq – all rescinded as China now owns them. So glad we fought a war for Oil and China is the beneficiary. They have the money after all, they own the paper that makes what you and I able to live a prosperous life.
Filing by Asst Attorney General Kim In case you don’t remember this guy or know his name, he was appointed by the Bush/Cheney administration and basically single-handedly erased Habeas Corpus. He is a prick and no friend to anyone’s civil liberties. I do not say that lightly. He is responsible in full, along with Cheney/Bush of making sure America does not participate in the Geneva Conventions, and considers them antiquated. Real winner of a guy.
Here he is in 2005—finally trying to deal with unscrupulous lenders, after many complaints. This was in the middle of Fannie/Freddie collectively buying: “$434 billion in securities backed by subprime loans between 2004 and 2006.” That is ridunkulous and makes those earlier figures look like child play. Clearly the payoff from the efforts of do anything and sell anything you can because we are going to bundle them all up and make Fannie/Freddie buy them.
Had your government been looking out for you on Main Street during this time, as opposed to Wall Street (and the unregulated hedge funds), we might still be in this mess – who knows? I am far from lying this at the feet of Clinton or Cuomo; whose dream was to make home ownership available to many people who have for decades been denied this American Dream — because of the color of their skin or their bad credit history. If it had come to fruition under a fiscally sound, better government, things may have turned out differently. Nor do I think Bush/Cheney masterminded this bit of stick it to the people bullshit. No, just like with Iraq, they were so caught up in this culture war, and so stupidly headstrong that the markets would decide — and they did: BUSH SUCKS.
Officially now this has to make him the worst president ever. Worse we had and worst we will ever have. Then add John McCain yesterday saying the economy is ‘fundamentally sound’ – on such a dark day. Methinks he should have tossed out that old stump speech and come up with something suited to the changing current events. If you vote for him after his trying to wrap himself in the American Worker – whom I bet he has not idea about unless they are manicuring one of the lawns on his what 7 or 8 houses – and see him & Cindy as elitist snobs who are woefully out of touch, then you are seriously deluded. He sounded just like Hubert Humphrey on the eve of the great depression telling us how sound our American economy was. Every Republican everywhere should have freaked out when he then turned into a commie-pinko liberal the kind of Saul Alinsky* claiming to bring REGULATION to Wall Street. Or do good Republicans, turn their heads, nod & wink, and say – “Yeah, Bush got elected as a reformer, too!” However since so much wealth was erased yesterday, I’m thinking it will be hard for them to find a silver lining in this and think that it will work again.
I’m a small business entrepreneur and business sucks right now. The policies that Bush, and I imagine McCain, would support will not help grow my business, for I will never make enough to be considered for the tax breaks, death tax, etc…not while they are at the helm. This is not news, this is the fallout from news of over a year ago. Watch as pensioners now have to return to the work force which already has a high rate of unemployment, as the uninsured go unaided and put an even further drain on our economy, and then look at how overextended our military is and ask – is the answer to this the market? Should we nuke both Iran & Russia? Will that solve everything?
This raises the bar to the unprecedented live or die situation. It is not hyperbole when I say that in a country that imports most of what it consumes. Soon my small business will be obsolete – because guess what – it can be outsourced to India! With hi-speed connections and VOIP – why not? Without comprehensive Immigration reform they don’t even have to do it virtually – because big business or money will always prefer a compliant scared-for-their-life employee over one they have to pay a fair & decent wage to. It suits their balance sheets.
This is far from a partisan matter – America has been grossly let down by its elected officials. The Supreme Court’s decision in 2000 to give away the election, and then the I’m scared of Gays marrying in 2004 – worked to separate this country along class and culture – how well did that work out for us? I don’t know why Obama is not parroting the man I love to hate Reagan by saying: “Are you better off than you were (8) years ago?” As much as I hated that man – he knew how to campaign even if millions died because he couldn’t use that same gift to say the word AIDS, while Nancy’s friends all died. I think Karma did quite the number on him by making his last years full of misery. Life’s a bitch & then you die.
What we need now is change, not lip service to it, not discussions about lipstick or other divide and conquer issues like race/gender/class – no the culture war needs to end. I expect that Republicans should stand up and be Republicans and not the do anything to get elected neo-cons who orchestrated a war, an unregulated financial disaster, erased the cornerstone of civil liberties and made us more vulnerable, not only terrorists, but to this horrific world we inhabit –the terrifying miasma we now call life.
On the precipice of the next great revolution (that no one has to die in) of changing from our fossil fuel, earth degrading ways – we can lead the way forward, just as FDR took a country that was about to fall apart and brought people together – if you think McCain can do that, then I applaud you, even if I think you are deluded. I am steadfast that Obama not only has the skill, but the ivy league smarts, to make something of this and put us back on the road to recovery. However, that is not the end – since almost half of the country won’t even vote (I’m expecting this year it will blow all other years away) which is a crime – or would be if I ran the country**. Vote for local and state politicians as well. Get involved locally, you know like those do nothing community organizers – and see what is really going on in this country – street level (which you can now see thanks to Google – no wonder their stock is at $400).
I grew up in a grass roots politically involved family, and am proud that as soon as I could vote – I was on the committee. I was appalled and later dismayed – but never apathetic, that we only have two parties in this country – when there are clearly far more diverse opinions than the two can represent. If Americans truly involved themselves and sought out other alternatives to represent themselves – this country would be the better for it. We have the politics of compromise, we have a culture of apathy, and our elections are beginning to look like American Idol. I have great faith in the American people & believe wholeheartedly that they are not as dumb as the main stream media presents us to be. We are not bubba votes, or white women, or a demographic – we are people: with needs, aspirations, and goals.
The question is are we going to be lied to again, are we going to be hoodwinked into believing reform comes in the guise of such a cheap rendition of the Emperor has no clothes? The article that spurned this is a view into how our politics works – or doesn’t. This is the 21st century and these are tactics that any student of history could tell you reek of the turn of last century with its barons of capital, its war mongering and alliances that cast the whole world into doubt, but saw America rise to prominence on (WHAT?) Technology and Industrial dominance. Through those things we clearly acquired the capital to become a player on the world stage. I beg you to consider that again – and ask which of these two candidates will really invest in America’s future, and help lift her up out of the chasm she is hanging on by her fingernails. This mess is not over, and just turn away from the MSM and look at the financial news to see that.
Americans need someone who can usher them through this challenge, encourage us to be better, and see us into a new millennium. God help you if you think Sarah Palin can do that. I hope it is a Pentecostal god too – full of fire & brimstone – because she sounds so much like Bush/Cheney I get chills. For McCain is obviously not the thunder in this campaign, he can barely read a speech – the new face of the party is Palin. She draws the crowds, she is the rock star, and for all his experience he is being upstaged by his VP – doesn’t that frighten you? It does me. Not even Ferraro eclipsed her running mate – her scandals did, but that is how we treat women in this country, whether it was 25 years ago, or now. We haven’t come very far, have we?
So if John McCain is willing to do anything & say anything to get elected – what makes you think all that principle he stands on will do for you when he gets elected? It will be payback time, time to field dress his enemies (as they both have a history of doing), and make stupid pronouncements during the really dark days that lay ahead – like how sound our economy is while the market is in free fall. That is pretty damn bullish – or bullheaded, but more likely bullshit. What happens when Georgia gets into NATO and provokes Russia further – do we place missiles in Poland for World War Four? Is this really the world you want to live in? I don’t.
My dreams are very American – I want to be rich enough to be a Republican Presidential Candidate who has 7 or 8 or who knows how many houses. I want to marry rich, and use her private jet (at next to nothing) to fly all over America and tell you what my plans are. Saving my bankrupt run for the white house mind you. I want to have a scandal & then come out of it and spend a lifetime in the Senate getting next to nothing done by reaching across the aisles and acting like I’m down with Democrats and Independents. I want my cake & to eat it to, while saying – “Let them eat Cake!”
Damnit, I don’t want to be competing with 80 year olds for jobs because their pensions went belly up. I want to see America’s children, none of which will be mine – have a chance at competing in the global economy. Equity – I want the middle class (as much as I disdain them) to prosper and grow richer and wiser – then they proved to be over the past 8 years. A world free of terror and an earth that isn’t becoming more hostile because of our dependence on fossil fuels. Shit that is a tall order, but if I don’t believe in that, then I see a dust bowl blowing over this great land of ours, and possibly its removal from prominence. We’ve already discredited our standing politically, now we are discrediting our buying power, we will be bankrupt, not only morally but financially in my lifetime.
That is the saddest thought of all. So I’m hoping that every American remembers that it is free to vote – that making an informed decision and not an emotional one is better. Under an Obama Presidency – I believe John McCain could get his tort reform, his change in the election process, and hopefully other wonderful things done. As President McCain would have to answer to any of the 179 lobbyist that currently make up his campaign – I’m sure there would be more of the connections you see in this article with Cuomo. I’m not naïve I realize that in order to make it in American Politics – you have to bow to the money. Obama is bowing to our money – largely financed by a grassroots internet campaign – he heeds the call of change and I believe takes it more seriously than the Maverick camp. I don’t expect to like everything he does, or that he will have an easy ride – but I have much more faith and hope in him, than I could ever have in his opposition.
So ask yourself who paid for the ridiculous ads McCain ran last week – while, mind you Freddie & Fannie were getting bailed out? What was he trying to distract you from? A VP candidate that doesn’t understand GSE’s? Or his own inefficiency at getting anything done under a Republican congress for 6 years. If you want to sponsor Palin’s on the job training so she can be just like GW/Cheney – then I say you are more of a gambler than I.
So if America’s middle class could get back on track and have a chance, my business could grow and take off, if it doesn’t – I will fail and so will many small businesses, and so too will America. It will fail to heed the call of a changing world, it will return to the old boy’s club and their seriously short-sightedness and stupid ploys. I’m tired, tired of it all, and seriously hope that we can see our way forward and not backwards.
It is that serious.
* This is a clear shot at that a-hole Guilliani who claimed on Sunday that Obama was trying to restructure the wealth in America and was a socialist – he is such a jerk.
**I’m a staunch supporter of the fact that there should be a mandate that everyone should vote – like Australia, and penalties ($500) if they don’t. We’d have a different election for sure and more than 2 parties if that was the case.