[Rhodes22-list] Comrade Wallace and Comrade Peter - political - the incredible shrinking sarah palin

Brad Haslett flybrad at gmail.com
Mon Sep 29 11:49:14 EDT 2008 

Wally,

Out the door to install the new "ball joints" on my nose gear doors
but a few quick comments and we'll pick-up where we left off later
this evening.

This is a bit like like 9/11.  It happened incrementally, it developed
over a long period of time, there were warning signs, and then BOOM,
it happened.

We need a 9/11 like commission to sort "the wheat from the chaff" and
make sure that we're not at risk again for this kind of failure.

One thing (among many things) that I find interesting is all the focus
on the Wall Street jackals and how much money they made.  I'm NOT
defending them.  But, I find it interesting that yesterday a gazillion
folks were glued to their HD TV's watching marginally educated
professional football players collecting millions per year, performing
for 60 minutes a week, and few questions of the "fairness" of the
system were asked.

For me personally, I don't care who gets what or who is guilty as long
as it benefits me.

Me, Me, Me.  That's what the world is all about!  Chairman Mao was all
about you - unless you farmed rice for 10 years when you should have
been in college.  Drive 5 hours west and I'll introduce you to some
really experienced rice farmers with PhD's.

Brad




On Mon, Sep 29, 2008 at 10:20 AM, TN Rhodey <tnrhodey at gmail.com> wrote:
> Brad, No I am not big on chasing video links so I didn't view them
> so I can't comment. If the video claims CRAs caused this I would only agree
> that the changes to CRA and the abuses afterwards contributed. CRA has been
> around since the 70s and was (back then) a very good thing. The main
> emphasis was to eliminate red lining. Yes I realize changes were made to CRA
> during Clinon's office (as well as other presidents). One bad change during
> Clinton's term was the reduction of capital needed by FannieFreddie to
> securatize a loan. Bush pushed for some changes in 2003 but congress did
> nothing voting along party lines keeping status quo.
>
> Something to consider.... most of the mortgage companies that wrote
> sub-prime loans did not have to follow CRA unless they were selling to a
> bank that met CRA requirements.  Most estimates I have seen put well less
> than half the foreclosures due to CRA underwritten loans. Those that worked
> through this back then realize if it wasn't GSEs buying these turds hedge
> funds would have.  The CRA loans did not have to be purchased by the GSEs
> but they did. Those running Fannie/Freddie thought they could make money and
> it worked for a while. A house of cards eventually will topple.
>
> On Mon, Sep 29, 2008 at 9:29 AM, Brad Haslett <flybrad at gmail.com> wrote:
>
>> Wally,
>>
>> Here's what Bubba had to say (at 2:40 on the interview) -
>>
>> http://www.youtube.com/watch?v=n2TT4jrIIak
>>
>> Wall Street would never have had the opportunity to unleash their
>> greed if the the Community Reinvestment Act had not been in place and
>> Fannie & Freddie had not purchased marginal loans.
>>
>> You did watch the instructional videos I posted, yes?  If you disagree
>> with them, point out where they are wrong.
>>
>> Brad
>>
>> On Mon, Sep 29, 2008 at 8:05 AM, TN Rhodey <tnrhodey at gmail.com> wrote:
>> > Ed, So when the right makes mistakes they are not true Republicans? Trust
>> me
>> > on this....there is plenty of blame on both sides. Until we pull politics
>> > out of this mess it will not get solved. Note current posturing from the
>> > left, to load with pork is ......well pure BULL. The right sitting on
>> their
>> > is hands is almost as bad. So if your guy is for this then we can
>> consider
>> > this good scoialism?
>> >
>> > The cause was greed and stupidity not politics. If you want to go on a
>> witch
>> > hunt please keep that in mind.  For one who has called me a socialist
>> many
>> > times in the past your viewpoints seem surprising. The fact is when
>> people
>> > made money on the real estate boom all was good. Greenspan was a genius
>> > instead of the pompous ass he really is. What is truly sad is his claim
>> that
>> > he didn't see this coming. I certainly believe him. Greenspan was a huge
>> > proponent of many of the hybrid mortgages that are part of the problem.
>> >
>> > To throw people in jail usually you need to prove they broke the law. If
>> > this can be done then people should go to jail.  The security agencies
>> that
>> > rated this crap "A" might be a good place to start. If they can prove
>> they
>> > knowingly mis-rated the risk to keep making commissions......
>> >
>> > Regarding campaign funding  - Neither side represents the people...just
>> > whomever gave them the most money. PACs and lobby money are a big
>> problem.
>> >
>> > As to only voting for 4 people involved in this mess...I would think
>> every
>> > person we have all voted into Congress and the White House over the last
>> 15
>> > years is involved in this mess. Lots of politicians sat on their hands
>> when
>> > all appeared rosy.
>> >
>> > Fair Winds,
>> >
>> > Wally
>> >
>> >
>> >
>> >
>> > On Sun, Sep 28, 2008 at 8:05 PM, Tootle <ekroposki at charter.net> wrote:
>> >
>> >>
>> >>
>> >> Comrade Peter:
>> >>
>> >> My wife wants to know if your wife knows about your Chauvinists Post?
>>  She
>> >> wants to know why the lady Rhodies are allowing such an overt
>> Chauvinists
>> >> to
>> >> post without comments.
>> >>
>> >> Comrade Wallace:
>> >>
>> >> As to any compromise, I do not vote but for four people involved in this
>> >> mess.  After having heard that Black lady Representative's comments on
>> tv a
>> >> few weeks back, I just begin to understand the problems coming from
>> >> California and the National Democratic Party.
>> >>
>> >> I have pointed out there are those who call themselves who call
>> themselves
>> >> Republicans, you may hear the term 'RINO'.  There are others, well you
>> may
>> >> have heard the term, 'Rockefeller Republicans'.  Then there are
>> Democrats
>> >> and National Democrats.  The long and short of it, there has neither
>> been a
>> >> true Republican majority whereas the self serving and less than honest
>> have
>> >> held sway.
>> >>
>> >> As to the current bailout bill?  I will look to Jim DeMint, Senator from
>> >> South Carolina.  I am personally acquainted with Jim and support his
>> >> politics most of the time.  By the way, Jim used to sail on Lake
>> Hartwell
>> >> before Washington and politics took his time.  So, I encourage you to
>> look
>> >> to Jim's stands and opinions.  He studies the issues diligently.
>> >>
>> >> As to whether I support the bailout?  If Jim supports it, then I will
>> >> support him.  I do think that Stan's daughter has brought up a valid
>> issue
>> >> for discussion.  I do think that insiders committed wrongs.  The
>> exorbitant
>> >> amounts paid to Washington insiders as consultants, lobbyist, etc. are
>> very
>> >> wrong.  I question Hank Paulson's part in this as former President of
>> >> Goldman, Sach's.  All this being said, I think that something should be
>> >> done
>> >> to ameliorate the situation.
>> >>
>> >> I think that Ben C. should comment on legal remedies for the gross
>> payments
>> >> made to CEO's and others.
>> >> And how do we deal with the payments by those CEO's, insiders to
>> political
>> >> campaigns.  Free speech is a person standing on a street corner
>> expressing
>> >> his opinion and it is not massive payoffs.  That is not speech, it is
>> >> wrong,
>> >> it is graft, etc.
>> >>
>> >> I think some people need to go to jail, that includes CEO's of failing
>> >> institutions, former CEO's, certain Senators, Congressmen, and those in
>> >> charge of regulatory organizations.  I have said it before, if you are
>> >> knowledgeable of wrong doing and cannot stop it then you should quit the
>> >> job
>> >> otherwise you become a conspirator.
>> >>
>> >> Anyway, it is good to have you back.  And imagine we recently had a post
>> by
>> >> Paul Grandholm, one of the apostles of the Rhodes list.
>> >>
>> >> Ed K
>> >> Greenville, SC, USA
>> >>
>> >> --
>> >> View this message in context:
>> >>
>> http://www.nabble.com/political---the-incredible-shrinking-sarah-palin-tp19704986p19716840.html
>> >> Sent from the Rhodes 22 mailing list archive at Nabble.com.
>> >>
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