Some of you may know or have gathered that I am conservative. I had decided not to 'campaign' anymore since I have cast my ballot back in the middle of October. However, I am frightened for my children and my granddaughters in what may take place over the next 4 years in the United States no matter who is elected to be President next week.
Jimmie Carter has to go down as the worst decision ever made by the American people to be chosen as President. George Bush has proven that he may be seeking to rise to that height. Bush has not maintained control of the House or the Senate and has allowed the greedy thieves to plunder the likes of Fanny and Freddie. Nancy Pelosi, a disgrace in my opinion, has encouraged the greed with "nothing but words." I do not know of one thing that Pelosi can claim as a beneficial victory of the government over the last 4 years including her time a speaker.
It is pretty well known what Barney has been doing and Dodd is still somewhat of a mystery. What has he accomplished for the people he is paid to represent? He has insulated the greed exposed by his peers as his very best accomplishment. By the way, I voted for Carter and Bush, both of them. Weak perhaps, but not openly Socialistic and perhaps even anarchistic in their views.
We are being asked to elect either a person with lots of time in the Senate and experiences protecting the United States or another Senator with not so much time in grade and no experience whatsoever in protecting our nation from anyone of which I am aware. I am not going to bore you with the political "words" we are sick of hearing for the past year, I am going to just ask you to view the film below before you vote for anyone.
Don't vote for McCain because he is white, but don't vote for Obama because he is blacker than McCain; please don't vote for McCain because he is older and more experience in the Senate and, as well, please do not vote for Obama because of his lack of experience; I don't think that McCain has a new economic policy than I have been hearing for at least 50 years and it sounds like the 'same old thing,' "just words," but I believe it would be very dangerous for the life you now know to decide that "spreading the wealth around" is a good financial policy either.
What has come to the front in his election (I would like to say crap, but I know, some people are already offended by this so, there is no point in pushing that feature so I will not say 'political crap'), I'll just say 'words, just words," is in my opinion, very frightening. Based purely on the associates and friends one of the candidates has maintained, I am bent to ask if the word "change" really means "revolution?" Or, does 'change' mean that we can have some change after our dollars have been 'spread' around? It remains to be seen!
We have one candidate who has not spent his life to this point consorting with or attending parties or fund raisers in the homes or comradeship of admitted anarchists and terrorist bombers, political hacks and individuals who have announced {to anyone who would listen} their hate for the "Imperial" United States, and another who has. When you view the video if you will, do so open minded and just weight the known facts about having people like 'Che'Chevera,' Ahmadinajad, the head of Iran who actively participated in holding, for 444 days, American soldiers as tortured captives; the Rev. Wright; etc. because you have already heard of them and know who they are.
Please, when you make your decision in that ballot booth if you haven't, think of the children of the U.S.A who are the future of the greatest, most blessed nation God ever placed on this orbit and how you want them to live in their futures ,on government hand outs and government health care or as free Americans. It is your choice, really.
At an Eagle Scout ceremony back in another life I heard the then Superintendant of Virginia Schools who on to become a Justice of the U.S. Supreme Court, Lewis Powell say, "the symbol of the United States is the eagle. A creature who has to be reliant on himself for his survival, instead of the oyster who just lays on the bottom of the river and waits for something to be washed into his his open mouth."
Frankie welcomes your comments. Keep the faith, but not to yourself. FL
http://www.eyeblast.tv/public/video.aspx?v=Q4IrVrkU
Wednesday, October 29, 2008
Sunday, October 26, 2008
Bankruptcy, Foreclosure, 401-K, IRA, Liens, Taxes and Refrigerator boxes
Today, I am going to explore some things which are on my mind since Fanny and Freddy teamed up with Paulson, Barney, Dodd, BO and others to line their own pockets and did so at the expense of most of the world's 401-K's, IRAs and other retirement accounts.
I really do not believe Boomers will return to the stock market at least for many years. Heck, most of them cannot afford to. They are now Googling to learn more about bankruptcy and foreclosure.
If you are into true facts, you will appreciate this explanation, if not, you should not read it and, instead, keep your head in the sand and vote for BO. This housing mess began during the Carter administration when that liberal pack said everyone should have a house and the government (you and me) should help them get one. That may be the reason why Carter is so closely attached to Habitat. Habitat is a good thing, but even there, the owners must qualify. That was another way of explanation the ‘redistribution of wealth’ concept which BO has a plank in his and his handler’s platform.
The next step was when Bill Clinton signed into law a mandated requirement that when the banks received an application for a housing loan, they could not turn it down. It would be guaranteed by the government (you and me again.) The qualifications were to be 18 years of age and to hold up your right hand. The test was to see if the borrowers knew their right from their left. If not, there would be special tutoring session if they wanted to attend.
It was at that point that the ship hit the sand and it took a few years of LIBOR movements – kind’a sounds like what it amounted to. Buyers who could not pay the sub prime mortgages which in some cases had been forced on them by a bank or credit union, now had a house. They couldn’t pay for it, the sub-prime loan, but they had a house.
I have a friend who has a house and on that house, he had some liens from Navy Federal, contractor’s liens, second mortgages and went to get another loan about three and half or four years ago and was turned down because of the liens. Two years later he was called by the bank which had turned him down and was told, “that equity loan for $125K which you applied for sometime back,” (2years) has been approved and you can come pick up the money in three days. He didn’t go because he just knew someone had made a mistake, but three days later, $125K showed up in his bank account.
He has now lost that money plus a heck of a lot more in the stock market. The clerk at the bank was trying to get a bonus for the number of loans she could award.
What were the lending institutions to do with all of this worthless paper? They had to sell it or the government auditors would fine them for having too much worthless paper on the books and outstanding. The “bad” loans were sold in various lots which were put into yet larger lots of mortgage loans and sold to other countries.
Then F and F began to unravel when the ARM’s escalated and the owners could not make the payments. Every nation who now has those loans are now experiencing a huge drop in their stock exchanges and their currencies are depreciating rapidly.
Barney Frank denies ever hearing of Fanny and Freddy; he and Bill O’Reilly have a big argument on the TV which accomplished nothing except O’Reilly had a spraying contest with a skunk; Senator Dodd thinks it is terrible what “Bush” has allowed to happen. The last I looked, Bush has to get that sort of mismanagement approved by the Senate and the House. Madame Speaker just has that ‘what the heck happened’ smile on her face and continues to make non-relevant speeches.
Now, my confession, I voted for Carter who has become known as the worst president ever, and I voted for George Bush as well and it is likely that he may take over that number 1 position at least for the next several years.
I don’t know to whom to direct my anger, but there is plenty to go around. BO, Barney, Dodd, probably McCain, and God only knows who else have abused the system for their own benefit and left the majority of the tax payers to clean up their insufferable mess. If you don’t believe it, just try to trace back where the $750,000,000,000.00 came from that was approved by both houses of Congress to ‘bail us out of this disaster’ which no-one created. Now Pelosi is calling for another $300,000,000,000.00 to throw on top of this smelly warm pile to cover the stink.
I learned today that $125,000,000,000.00 is being given to the major banks so that they can buy smaller banks, give some raises and reward their CEO's. I thought that someone was going to look at the bail money and try to keep the CEO's {the "rich white guys} from continuing to cash in so heavily. What happened??
OK, I have vented a bit, but that is where the problem began which has resulted in companies closing, companies laying off and firing employees, more food stamps being printed, pawn shops doing a land office business from “middle class” people who never had to leave their shadow on the brass balls until now.
The pitiful part is that those hapless individuals who were elected by the people and for the people found it more advantageous to feather their own nest first. Will they be re-elected? Probably!
Frankie will post again tomorrow and see if those same taxpayers can learn the proper words for what is happening to them and will, in a few days, recommend a way out of this bad situation. “If it happens to you, it is a recession. If it happens to me, it is a depression.”
One more thing, it is also a fact that inside of acorn there is a worm, at least one.
I really do not believe Boomers will return to the stock market at least for many years. Heck, most of them cannot afford to. They are now Googling to learn more about bankruptcy and foreclosure.
If you are into true facts, you will appreciate this explanation, if not, you should not read it and, instead, keep your head in the sand and vote for BO. This housing mess began during the Carter administration when that liberal pack said everyone should have a house and the government (you and me) should help them get one. That may be the reason why Carter is so closely attached to Habitat. Habitat is a good thing, but even there, the owners must qualify. That was another way of explanation the ‘redistribution of wealth’ concept which BO has a plank in his and his handler’s platform.
The next step was when Bill Clinton signed into law a mandated requirement that when the banks received an application for a housing loan, they could not turn it down. It would be guaranteed by the government (you and me again.) The qualifications were to be 18 years of age and to hold up your right hand. The test was to see if the borrowers knew their right from their left. If not, there would be special tutoring session if they wanted to attend.
It was at that point that the ship hit the sand and it took a few years of LIBOR movements – kind’a sounds like what it amounted to. Buyers who could not pay the sub prime mortgages which in some cases had been forced on them by a bank or credit union, now had a house. They couldn’t pay for it, the sub-prime loan, but they had a house.
I have a friend who has a house and on that house, he had some liens from Navy Federal, contractor’s liens, second mortgages and went to get another loan about three and half or four years ago and was turned down because of the liens. Two years later he was called by the bank which had turned him down and was told, “that equity loan for $125K which you applied for sometime back,” (2years) has been approved and you can come pick up the money in three days. He didn’t go because he just knew someone had made a mistake, but three days later, $125K showed up in his bank account.
He has now lost that money plus a heck of a lot more in the stock market. The clerk at the bank was trying to get a bonus for the number of loans she could award.
What were the lending institutions to do with all of this worthless paper? They had to sell it or the government auditors would fine them for having too much worthless paper on the books and outstanding. The “bad” loans were sold in various lots which were put into yet larger lots of mortgage loans and sold to other countries.
Then F and F began to unravel when the ARM’s escalated and the owners could not make the payments. Every nation who now has those loans are now experiencing a huge drop in their stock exchanges and their currencies are depreciating rapidly.
Barney Frank denies ever hearing of Fanny and Freddy; he and Bill O’Reilly have a big argument on the TV which accomplished nothing except O’Reilly had a spraying contest with a skunk; Senator Dodd thinks it is terrible what “Bush” has allowed to happen. The last I looked, Bush has to get that sort of mismanagement approved by the Senate and the House. Madame Speaker just has that ‘what the heck happened’ smile on her face and continues to make non-relevant speeches.
Now, my confession, I voted for Carter who has become known as the worst president ever, and I voted for George Bush as well and it is likely that he may take over that number 1 position at least for the next several years.
I don’t know to whom to direct my anger, but there is plenty to go around. BO, Barney, Dodd, probably McCain, and God only knows who else have abused the system for their own benefit and left the majority of the tax payers to clean up their insufferable mess. If you don’t believe it, just try to trace back where the $750,000,000,000.00 came from that was approved by both houses of Congress to ‘bail us out of this disaster’ which no-one created. Now Pelosi is calling for another $300,000,000,000.00 to throw on top of this smelly warm pile to cover the stink.
I learned today that $125,000,000,000.00 is being given to the major banks so that they can buy smaller banks, give some raises and reward their CEO's. I thought that someone was going to look at the bail money and try to keep the CEO's {the "rich white guys} from continuing to cash in so heavily. What happened??
OK, I have vented a bit, but that is where the problem began which has resulted in companies closing, companies laying off and firing employees, more food stamps being printed, pawn shops doing a land office business from “middle class” people who never had to leave their shadow on the brass balls until now.
The pitiful part is that those hapless individuals who were elected by the people and for the people found it more advantageous to feather their own nest first. Will they be re-elected? Probably!
Frankie will post again tomorrow and see if those same taxpayers can learn the proper words for what is happening to them and will, in a few days, recommend a way out of this bad situation. “If it happens to you, it is a recession. If it happens to me, it is a depression.”
One more thing, it is also a fact that inside of acorn there is a worm, at least one.
Saturday, October 4, 2008
Did Politicians Bailout Wall Street or Main Street?
The bailout is supposed to make "Joe six pack" feel better and be able to get more credit. Joe probably doesn't give a hoot one way or the other as long as his favorite team is on cable and he can also tune in to one of the Mannings on Sunday.
- It was really cute how O'reilly was about to explode while listening to politician Barney Frank deny that he or his finance committee had anything to do with the implosion on Wall Street.
- The financial breakdown was all "Bushes fault." The democrats had nothing to do with any of that stuff. Poppy Cock!! If they didn't have anything to do with the financial hole that was dug what the heck are they doing there? Bull rushes!!
- It seems that a great many of the politicians have spent more time on Wall Street than on Main Street and for the past couple of weeks they have all been fishing in deNile.
- The bet now is that there are politicians, elected leaders and officials at this very moment trying to conceive ways by which they can carry a bag of that $700,000,000,000.00 home with them and not be noticed.
- The tax payers are livid and even some non taxpayers are very angry that the black mail was necessary, but we want some answers. How did this misadventure get started? Which government bureaucrat benefited and which one benefited the most? What will be done about it?
- What is the likelihood that the same or similar scandal will happen again? Who is in place to perform the oversight on the spending of the bailout money? Please do not put the fox in charge of the hen house again. Someone like T. BOONE PICKINGS or WARREN BUFFIT, STEVE WYNN or STEVE JOBS, seems like a good choice.
- On the news this morning was a story from California whereby the "Governator" Schwarzenegger is asking the government - the government of the other 49 states as well - to bailout California to the tune of some $7,000,000,000.00. That is 1% of the total bailout money. Arnold is smart to get in line first.
- Is Paulson an idiot or just ignorant? Was it Wall Street greed that caused it? Was it no money down loans? Was it 'political correctness?' Was it Acorn threatening to fill the lobbies of all the lending institutions with "customers" changing pennies to dollars and back again all day every day until they granted the substandard loans? Was it the 'community organizers' or 'community activists?'
- It is doubtful that 'Joe or JoAnna Six Pack' will ever really know for sure because the Jets are playing Los Angeles or we didn't watch the town hall meeting because Lost was on at the same time. Too bad. History does indeed repeat itself.
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