[Rhodes22-list] Brad's comments on Finance - Economics - Fear - Politics - Truth - Personal Attacks without foundation

[Tootle]

Brad:

It is amazing to sit back and observe.  There are those who accuse you of
personal attacks and opinions about the National Democratic Party Leadership
and their candidate Obama.  Yet you have provided much documentation to
support your view, positions, suppositions, etc.

You get attacked by one list member who offers support for his positions
that at best are conjecture.  

The Bail out Bill has a big gift for ACORN.  Yes it does, in the last
versions acknowledged at 8 AM on Sunday morning.  Why should ACORN be
specified in this proposal by the National Democratic Leadership? 

The reasons are easy to see, to cover their asses and gain political
domination, to create their new order with them as dictators.
 
The National Democratic Leadership has enough votes to pass their version
without any Republicans.  It seems they want enough votes to override any
potential veto to a bad bill for America.

It looks like no bill will pass today.  As the economy falls, watch the news
media blame Bush.  Yet, it is easy to see that the National Democratic
Leadership is very involved in the problems.  It seems to this observer that
the fifth column is succeeding. 

According to Stan’s recommended reading, the bubble is bursting.  I am
overwhelmed by his lack of concern for the results.  I am overwhelmed by his
failure to call for justice by those intent on destroying America.  I am
overwhelmed by this forums failure to support complete justice and
integrity. 

It is obvious that Nancy Pelosi, Harry Reid, Chuck Schumer, Barney Frank are
incompetent, evil or successors to the Ben C.’s old time Communists fifth
column.

I think I need to go out and buy some old fashion amunition so I am prepared
for tomorrow.

Ed K
Greenville, SC, USA
 

  




Brad Haslett-2 wrote:
> 
> The short version of a long story is, I've been stuck in a hotel on
> reserve in my own city all day and paying close attention to the
> negotiations in DC. Everyone knows I'm a partisan, but what been going
> on the last few days with Pelosi, Reid, and company is disgusting and
> despicable.  We need a bill and we need it before the Asian markets
> open tomorrow night (our time).  They've been trying to load this bill
> up with pork and special favors, the most disturbing pork being marked
> for ACORN.  There's a lot of media spin being put out and a lot of
> high stakes power politics being played. These people have no idea how
> serious this game of "chicken" is and what the probable outcome will
> likely be.  Here's some observation and some links with a brief
> description of some of shenanigans at the end.
> 
> Brad
> 
> ------------------------------------
> 
> http://www.bloomberg.com/apps/news?pid=20601087&sid=aCpGk.NPYZ3g&refer=home
> 
> http://www.bloomberg.com/apps/news?pid=20601087&sid=aCpGk.NPYZ3g&refer=home
> 
> http://www.weeklystandard.com/Content/Public/Articles/000/000/015/636zbhel.asp
> 
> http://www.politico.com/news/stories/0908/14018.html
> 
> http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3094318/Bailout-failure-will-cause-US-crash.html
> 
> 
> -from Gateway Pundit-
> 
> On Friday, the US government stepped in and sold Washington Mutual
> after customers withdrew $16.7 billion from accounts since Sept. 16th
> leaving the Seattle-based bank "unsound."
> 
> It was later announced that Washington Mutual Inc. bondholders were
> likely to lose most of their money. This was a HUGE mistake by the
> government and must be corrected quickly or it could have major
> consequences.
> 
> This report was sent to me from a an international auditor in the
> insurance industry and close friend who understands the seriousness of
> the situation.He describes the situation in layman's terms.It ain't
> pretty:
> 
>     The financial crisis is real. Most people don't realize it yet,
> but banks, investment managers and corporate treasurers around the
> world all know what is going on. It started with the Freddie – Fannie
> collapse. They wrote loans to individuals who they shouldn't have.
> Government policies encouraged loans to minorities and the
> underwriting function of banks was no longer approving loans upon an
> individual's creditworthiness but their race was now a factor in the
> loan decision. When individuals are given loans based on race and not
> their ability to pay, it is inevitable that bad loans would be written
> and foreclosures would come. That's what happened and in a big way.
> 
>     This caused ripple effects throughout the financial services
> industry. Firms who consolidated loan packages or guaranteed their
> creditworthiness were caught in the middle. Bear Sterns, Lehman
> Brothers and others went under. The largest insurance company in the
> US by some measurements was one of the casualties (AIG). With
> insurance companies around the globe, AIG is hoping to have some
> business left when all is over. The government stepped in to rescue
> this giant by providing capital for the firm while it liquidates
> portions of its business to pay off the investment derivatives which
> caused it trouble and then pay off the government loan. The
> investments became bad when the mortgages went south.
> 
>     The ripple affect continues. Putnam funds, the largest money
> market fund in the US and rated AAA, had to close its doors since
> money managers began to realize that Putnam's assets were not
> guaranteed by the Federal Government (unlike cash in banks and savings
> and loans) and began to ask for their money. Putnam had to sell
> securities in order to meet the demand. Although they have begun to
> pay their account holders, their reputation and money market accounts
> in general have been severely damaged.
> 
>     Corporations and institutions are scared of losing their money or
> having it locked up so there is a rush for money. This is global as
> long lines were reported outside AIG offices in various Asian offices.
> The Taiwan government came in to help AIG in Taiwan. There are other
> cases like this worldwide. Rumors are that some banks in Europe may be
> at risk.
> 
>     The largest bank to ever be taken over by the government was next.
> And this is the scary part. Washington Mutual was taken over by the
> government on Thursday. They were not able to handle the surge for
> cash requests and became insolvent. The government however has made a
> big – HUGE – mistake.
> 
>     In taking over Wash Mu, the government told Wash Mu bondholders
> that they would not be paid. This precedent when recognized by the
> investors around the world will cause massive pandemonium if the
> government doesn't do something quick. You see the bondholders are
> people and institutions who buy bonds for stable and guaranteed
> returns with a payoff based on the bond type. Banks and many
> corporations raise capital or get money by issuing bonds. If
> bondholders realize that their bonds with banks will not be paid off
> if the bank goes under, then the bond will become very risky
> especially during these times, if not worthless. This will cause banks
> the inability to raise capital to pay off the depositors they have on
> the books. Depositors will become scared and more 'runs on the bank'
> will occur in all financial service industries.
> 
>     The President has made a proposal for the government to step in.
> They must do so quickly. There is no time to waste. Fear is a great
> motive and causes people to do crazy things. Already treasurers of
> companies are divesting their assets from risky investments and moving
> it to more safe places. This is causing illiquidity in the market and
> will continue if not addressed. Congress cannot continue to filibuster
> and lollygag. The world economy is at stake. The root problems of a
> government policy encouraging bad loans, corporate and government
> greed (some Fannie Mae executives made off with millions), and a
> Congress that wishes to put pork on this bill to save our economy must
> be addressed and now.
> 
> More... There are already reports that the stock market could suffer a
> devastating crash with shares losing a third of their value this week
> if a concensus is not reached in Congress this weekend.
> 
> With tensions high and Speaker Pelosi calling GOP members unpatriotic
> for missing meetings they were not invited to, it may be impossible
> for this to happen.
> Let's pray for a miracle.
> 
> -----------------------
> 
> Despicable Nancy Pelosi calls GOP Unpatriotic for missing a meeting--
> A meeting they were not invited to.
> 
> Here's some behind the scenes politicking by Democrats at the
> Congressional bailout talks today, via the House GOP:
> 
>     I Just wanted to shoot this story regarding the ongoing
> negotiations your way before you hear the media spin the Dems are
> feeding them. Republicans were told today's negotiations were for
> "principles." Meaning each party's lead negotiators – Senators Chris
> Dodd and Judd Gregg and Reps. Blunt and Frank. When we showed up to
> the meeting the list of Dems walking in the door kept growing to
> include all the above along with Democrats:
> 
>     Rahm Emanuel (arguable the most political member of the House)
>     Charles Rangel (currently under an ethics investigation)
>     Senator Max Baucus
>     Senator Chuck Schumer (again, one of the most polarizing Members
> of Congress)
>     Senator Kent Conrad
>     Senator Jack Reed
> 
>     That's hardly the deal we were promised, like Mr. Blunt quipped to
> reporters, "I think the ratio's about fair. It's two to eight or
> something."
> 
>     And, the Dem spin machine is still in full swing. They said we
> boycotted earlier meetings, well, as Chris Dodd said last night on
> NBC, they just forgot to call us. So, maybe an 8-2 fight is the best
> we've had all week because we are at least at the table.
> 
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