[Rhodes22-list] Rep. Henry Waxman, D-Calif/Let the games begin.

[TN Rhodey]

Hank,

I just reread my post. You have done this before......I did not blame Bush 
for agressive bank lending policys. I did say the buck stops with the Pres 
but that was in reference to Iraq, I was commenting that some economic 
indicators are doing well. Others are not. Also I think it is wrong to blame 
the banks for these loans. People should know what they are signing. I don't 
blame Bush either. I was just pointing out ......aw never mind.

Also others have mentioned that banks usually sell these loans. This is 
generally true. These loans are in turn purchased by hedge funds (mostly). 
The banks in turn have money invested in these hedge funds. Many mutual 
funds also wind up "owning" these loans. We are building a nice little house 
of cards. Note - I am NOT blaming our president.

Wally


>From: Hank <hnw555 at gmail.com>
>Reply-To: The Rhodes 22 mail list <rhodes22-list at rhodes22.org>
>To: "The Rhodes 22 mail list" <rhodes22-list at rhodes22.org>
>Subject: Re: [Rhodes22-list] Rep. Henry Waxman, D-Calif/Let the games 
>begin.
>Date: Sun, 12 Nov 2006 11:43:19 -0500
>
>One of the reasons I say it is the fault of the banks is that I think there
>may be a problem coming up soon where many will default on loans due to
>these balloon payments.  Then the banks have made bad decisions on lending
>the money.  I also believe the banks are partially at fault as they tend to
>gloss over the negatives of the programs in order to get the business.  I
>know, buyer beware, but I believe the banks have an ethical and moral
>obligation here that they don't always live up to.
>
>Hank
>
>On 11/12/06, Rik Sandberg <sanderico at earthlink.net> wrote:
>>
>>Hank and Wally,
>>
>>No, people buying homes on 100% credit and interest only loans (and ARMs
>>and all the other gimicks) is purely and simply the fault of the people
>>who were foolish enough to do it and no one else. Not Bush OR the banks
>>
>>When it comes back to haunt them I hope they will finally figure out
>>that stupid is supposed to be painful. But, I can hear the whining
>>coming already and I know there's some one out there that will want to
>>bail them all out of their troubles, troubles that could have been
>>avoided by paying attention in second grade math.
>>
>>I'm no economic rocket scientist, but I had no trouble seeing all this
>>coming. What were they all thinking???
>>
>>Rik
>>
>>Hank wrote:
>> > Wally,
>> >
>> > People buying homes on 100% credit and interest only loans is the
>> > fault of
>> > the banking industry, not Bush.  That's a bit of a stretch, don't you
>> > think?
>> >
>> > Hank
>> >
>> > On 11/12/06, TN Rhodey <tnrhodey at hotmail.com> wrote:
>> >>
>> >> Brad,
>> >>
>> >> Do you really think Condi is hot?
>> >>
>> >> I don't expect much from the Dems but Bush deserves most of the blame
>> >> for
>> >> this mess. He did lead us into this mess and the buck stops with him.
>> >> I do
>> >> think any impeachment attempts would be a waste of time. We know now
>> >> that
>> >> many of the reasons given for attacking Iraq were not true. The people
>> >> didn't welcome us, they were not close to obtaining nuke capability. 
>>We
>> >> were
>> >> also told it would take 6 months, we would not have long term
>> >> presence and
>> >> so on. Most of our politicians were scared to look weak on terror so
>> >> they
>> >> voted to support/fund the war.
>> >>
>> >> There are many economic indicators. Much of "middle class America" is
>> >> living
>> >> paycheck to paycheck. Savings are way down. Many people are buying
>>homes
>> >> they can't afford with 100% financing using interest only loans. These
>> >> loans
>> >> have balloon payments due down the road. Home foreclosures are way up.
>> >> Credit card debt is huge. People drive nice cars but the bank owns
>>them.
>> >> The
>> >> economy is doing ok because people are still buying. However we have
>> >> troubled auto and airline industry and we can't  make anything. I am
>>not
>> >> blaming any politician for this problem. Only pointing out that some
>> >> numbers
>> >> are doing well. We all know how fast stocks can drop. All these gains
>> >> can
>> >> be
>> >> lost in a day. Debt will take years to pay off.
>> >>
>> >> Wally
>> >>
>> >>
>> >>
>> >> >From: "Brad Haslett" <flybrad at gmail.com>
>> >> >Reply-To: The Rhodes 22 mail list <rhodes22-list at rhodes22.org>
>> >> >To: "The Rhodes 22 mail list" <rhodes22-list at rhodes22.org>
>> >> >Subject: Re: [Rhodes22-list] Rep. Henry Waxman, D-Calif/Let the games
>> >> >begin.
>> >> >Date: Sun, 12 Nov 2006 05:24:57 -0600
>> >> >
>> >> >David,
>> >> >
>> >> >I'll bite too!
>> >> >
>> >> >Since you know about management, you probably know about the company
>> >> policy
>> >> >of not getting hummers on company property, at least that's the
>> >> policy at
>> >> >my
>> >> >employer (I had a co-worker get fired for enjoying himself too much 
>>in
>> >> >first-class returning from Europe with a friendly companion).  If it
>> >> were
>> >> a
>> >> >ballot initiative, I'd vote for it, but alas, such is not the case.
>> >> Clinton
>> >> >got impeached for something that we'd all lie about.  Except, he lied
>> >> under
>> >> >oath.  He was elected to be chief executive and commander-in-chief,
>>not
>> >> to
>> >> >increase his potential audience of young paramours. But I digress,
>> >> we're
>> >> >not
>> >> >talking about Slick Willy.  Impeaching Willy was a waste of time and
>> >> >resources, fun, but not very productive.  Of course there is talk of
>> >> >payback!  Politics is a contact sport!
>> >> >
>> >> >The more I think about it, the incoming Dems should investigate the
>> >> hell
>> >> >out
>> >> >of everything.  Start with pre-war intelligence.  Most of these
>> >> guys/gals
>> >> >voted for the war so what happened?  Did that dumbass academic
>> >> >under-achiever Bush read the intelligence report to them or did they
>> >> read
>> >> >it
>> >> >themselves?  When Clinton, Gore, Kerry, Pelosi, et al, reached the
>>same
>> >> >conclusions years earlier based on 'intelligence', were they lying
>> >> or was
>> >> >Bush reading it to them at that time as well? By all means, lets
>> >> >investigate!
>> >> >
>> >> >Bush did run off talent.  He ran off Janet Reno because he didn't 
>>want
>> >> his
>> >> >ranch near Waco attacked.  He ran off Madeleine Albright because
>> >> foreign
>> >> >leaders we're afraid to look at her and Condi is HOT!  There were
>> >> probably
>> >> >some others.
>> >> >
>> >> >He weakened the balance sheet?  Maybe yours brother, not mine.  A
>> >> 12,000
>> >> >DOW
>> >> >has done wonders for my 401K.
>> >> >
>> >> >He did squander some alliances.  We can't count on France to watch 
>>our
>> >> back
>> >> >anymore!
>> >> >
>> >> >By all means, let's investigate everything, starting with Katrina.  
>>As
>> >> long
>> >> >as everyone is pinned down in committee meetings and investigations,
>> >> they
>> >> >can't pass legislation to get in our pockets.
>> >> >
>> >> >Bring em' on!
>> >> >
>> >> >Brad
>> >> >
>> >> >
>> >> >On 11/12/06, David Bradley <dwbrad at gmail.com> wrote:
>> >> >>
>> >> >>OK, Herb, I'll bite.
>> >> >>
>> >> >>You made a comment that an investigation of the Bush administration
>>is
>> >> >>political payback, vs. fixing the things that are wrong.  I said I
>> >> hoped
>> >> >>they did, in fact, do a thorough investigation after years of
>> >> >>mismanagement,
>> >> >>and that the poliitcal/media rhetoric wouldn't get in the way.  You
>> >> seemed
>> >> >>to think the term mismanagement is somehow a mischaracteriztion, and
>> >> that
>> >> >>the president has made decsions appropriately within the context of
>> >> his
>> >> >>political platform.
>> >> >>
>> >> >>When politicians talk, I think they are many steps removed from the
>> >> >>reality
>> >> >>of every situation they discuss as they try to simplify, spin, or
>> >> twist
>> >> >>what
>> >> >>is almost always a complex situation.  Then the media get ahold of 
>>it
>> >> and
>> >> >>it's even further removed from reality.  That's why I think the
>> >> rhetoric
>> >> >>is
>> >> >>dumb -- because it never does a fair job of explaining what's really
>> >> going
>> >> >>on.  It gets in the way of the kind of reasoned debate that -- well
>>--
>> >> >>managers would be expected to undertake in running a business.
>> >> >>
>> >> >>I don't know much about politics, but I know a little bit about
>> >> >>management.
>> >> >>I think the president was elected and paid to be a chief executive
>>and
>> >> >>commander in chief.  At least one of those jobs is about
>> >> management.  The
>> >> >>list of bad management decisions he made seems pretty long, in my
>> >> opinion
>> >> >>(and it sounds like maybe yours too?).  He dangerously weakened the
>> >> >>balance
>> >> >>sheet.  He squandered alliances and resources.  He drove away
>> >> talent.  He
>> >> >>embarked on a war with no plan to succeed based on weak
>> >> intelligence and
>> >> >>emotional decisions.  He put weak managers in place.  He surrounded
>> >> >>himself
>> >> >>with people who think like him.  He ran the place like a damn family
>> >> >>business.  None of that can be explained away by a political
>>platform.
>> >> >>
>> >> >>I truly hope a change of course in Washington can put a spotlight
>> >> on as
>> >> >>much
>> >> >>bad decision making as possible, to head off any more stacking of 
>>the
>> >> >>deck,
>> >> >>and to take advantage of a CYA window for a bilateral Congress to
>> >> try to
>> >> >>set
>> >> >>some things right.
>> >> >>
>> >> >>
>> >> >>Dave B
>> >> >>
>> >> >>
>> >> >>On 11/11/06, Herb Parsons <hparsons at parsonsys.com> wrote:
>> >> >> >
>> >> >> > "dumb rhetoric" - would that be things like "6 years of
>> >> mismanagement
>> >> >> > (with two more to go).
>> >> >> > I think the thing that galls me the most when I see things like
>> >> that
>> >> is
>> >> >> > the fact that after 4 years, he not only got to keep his job, he
>> >> got
>> >> it
>> >> >>by
>> >> >> > more votes and a larger margin than the first time around.
>> >> >> >
>> >> >> > Guys, the one you didn't want being in charge does NOT amount to
>> >> >> > "mismanagement".
>> >> >> >
>> >> >> > The guy who won doing things the way he said he was going to,
>> >> although
>> >> >>it
>> >> >> > may be unheard of in politics these days, is NOT mismanagement.
>> >> >> >
>> >> >> >
>> >> >> > Herb Parsons
>> >> >> >
>> >> >> > S/V O'Jure
>> >> >> > 1976 O'Day 25
>> >> >> > Lake Grapevine, N TX
>> >> >> >
>> >> >> > S/V Reve de Papa
>> >> >> > 1971 Coronado 35
>> >> >> > Lake Pontchartrain, Louisiana Coast
>> >> >> >
>> >> >> > >>> dwbrad at gmail.com 11/11/2006 12:30:14 pm >>>
>> >> >> > Hmm.  It seems to me that 6 years of mismanagement (with two
>> >> more to
>> >> >>go)
>> >> >> > warrants an evaluation.  I sure hope they start now in what is
>>sure
>> >> to
>> >> >>be
>> >> >> > a
>> >> >> > long process of "unstacking the deck."  It sure would be nice if
>> >> they
>> >> >> > could
>> >> >> > keep the dumb rhetoric to a minimum while doing it, but that's
>> >> probably
>> >> >> > too
>> >> >> > much to hope for, and to me not all that important.
>> >> >> >
>> >> >> > Dave B.
>> >> >> >
>> >> >> >
>> >> >> > On 11/11/06, Herb Parsons <hparsons at parsonsys.com> wrote:
>> >> >> > >
>> >> >> > > That's his version of "bi-partisanship" and "returning
>> >> civility to
>> >> >>the
>> >> >> > > Congress".
>> >> >> > >
>> >> >> > > So, instead of working on "fixing all those wrongs" they say,
>>the
>> >> >>Dems
>> >> >> > are
>> >> >> > > going to concentrate on a little payback for Clinton.
>> >> >> > >
>> >> >> > >
>> >> >> > > Herb Parsons
>> >> >> > >
>> >> >> > > S/V O'Jure
>> >> >> > > 1976 O'Day 25
>> >> >> > > Lake Grapevine, N TX
>> >> >> > >
>> >> >> > > S/V Reve de Papa
>> >> >> > > 1971 Coronado 35
>> >> >> > > Lake Pontchartrain, Louisiana Coast
>> >> >> > >
>> >> >> > > >>> R22RumRunner at aol.com 11/10/2006 7:32:15 pm >>>
>> >> >> > >
>> >> >> > > LOS ANGELES - The Democratic  congressman who will investigate
>> >> the
>> >> >>Bush
>> >> >> > > administration's running of the  government says there are so
>> >> many
>> >> >>areas
>> >> >> > > of
>> >> >> > > possible wrongdoing, his biggest  problem will be deciding 
>>which
>> >> ones
>> >> >>to
>> >> >> > > pursue.
>> >> >> > > There's the response to Hurricane  Katrina, government
>> >> contracting
>> >> in
>> >> >> > Iraq
>> >> >> > > and on homeland security, political  interference in regulatory
>> >> >> > decisions
>> >> >> > > by the
>> >> >> > > Environmental Protection Agency and  the Food and Drug
>> >> >>Administration,
>> >> >> > and
>> >> >> > > allegations of war profiteering, Rep.  Henry Waxman, D-Calif.,
>> >> told
>> >> >>the
>> >> >> > > Los
>> >> >> > > Angeles Chamber of Commerce.
>> >> >> > > "I'm going to have an interesting  time because the Government
>> >> Reform
>> >> >> > > Committee has jurisdiction over everything,"  Waxman said
>>Friday,
>> >> >>three
>> >> >> > > days after
>> >> >> > > his party's capture of Congress put him in  line to chair the
>> >> panel.
>> >> >> > "The
>> >> >> > > most
>> >> >> > > difficult thing will be to pick and  choose."
>> >> >> > > __________________________________________________
>> >> >> > > Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
>> >> >> > >
>> >> >> > > __________________________________________________
>> >> >> > > Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
>> >> >> > >
>> >> >> >
>> >> >> >
>> >> >> >
>> >> >> > --
>> >> >> > David Bradley
>> >> >> > +1.206.225.7793
>> >> >> > dwbrad at gmail.com
>> >> >> > __________________________________________________
>> >> >> > Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
>> >> >> >
>> >> >> > __________________________________________________
>> >> >> > Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
>> >> >> >
>> >> >>
>> >> >>
>> >> >>
>> >> >>--
>> >> >>David Bradley
>> >> >>+1.206.225.7793
>> >> >>dwbrad at gmail.com
>> >> >>__________________________________________________
>> >> >>Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
>> >> >>
>> >> >__________________________________________________
>> >> >Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
>> >>
>> >> _________________________________________________________________
>> >> Get today's hot entertainment gossip
>> >> http://movies.msn.com/movies/hotgossip?icid=T002MSN03A07001
>> >>
>> >> __________________________________________________
>> >> Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
>> >>
>> > __________________________________________________
>> > Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
>> >
>>__________________________________________________
>>Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
>>
>__________________________________________________
>Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list

_________________________________________________________________
Stay in touch with old friends and meet new ones with Windows Live Spaces 
http://clk.atdmt.com/MSN/go/msnnkwsp0070000001msn/direct/01/?href=http://spaces.live.com/spacesapi.aspx?wx_action=create&wx_url=/friends.aspx&mkt=en-us