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

[Hank]

Wally,

Where in my post did I say that you said it was Bush's fault.  I was simply
saying that the banks are not blameless in this.  I didn't criticize
anything you said.  Lighten up.

Hank

On 11/13/06, TN Rhodey <tnrhodey at hotmail.com> wrote:
>
> 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
> >> >>
> >> >> _________________________________________________________________
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> >> >>
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> >> >>
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> >> >
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