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

[Brad Haslett]

Ed,

Most folks probably aren't aware just why the ACORN provisions would
be a deal killer. Here's some reading and a film.

http://www.freep.com/apps/pbcs.dll/article?AID=2008809140383

http://article.nationalreview.com/?q=NDZiMjkwMDczZWI5ODdjOWYxZTIzZGIyNzEyMjE0ODI=&w=Mg==

http://sweetness-light.com/archive/acorn-housing-mortgage-program

And from the state that giving us the Obama Truth Squads, there's this
from 2006-

http://www.youtube.com/watch?v=jsT0LdeVomc

ACORN better be out of this deal.  I hope this isn't one of those "OJ
says he's near finding wife's killer" moments.

Brad

.

On Sun, Sep 28, 2008 at 7:52 AM, Tootle <ekroposki at charter.net> wrote:
>
>
> 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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>
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