Comments on: U B S(uckered)

By: rxbusa

rxbusa — Mon, 22 Sep 2008 14:41:29 +0000

Ooh and look at this nice quote in the NYT article about Rick Davis lobbying for Fannie Mae & Freddie Mac:

The spokesman, Tucker Bounds, also noted that the Homeownership Alliance included nonprofit organizations like Habitat for Humanity and the Urban League. “It’s not controversial to promote homeownership and minority homeownership,” Mr. Bounds said. More than a half-dozen current and former executives, however, said the Homeownership Alliance was set up mainly to defend Fannie Mae and Freddie Mac by promoting their role in the housing market, and the two companies paid almost the entire cost of the group’s operations.

By: tjbs

tjbs — Mon, 22 Sep 2008 12:27:56 +0000

Sub-prime = Lazy Blacks
Alt-a =Unlucky Whites
Subliminal you know

By: plunger

plunger — Mon, 22 Sep 2008 12:22:49 +0000

$2.5 billion is going to 10,000 employees of a purportedly bankrupt company?

$25 million per employee…to quit work?

Why didn’t they do this years earlier?

By: solai

solai — Mon, 22 Sep 2008 12:16:47 +0000

Leaving, now…bbl.

By: solai

solai — Mon, 22 Sep 2008 12:16:10 +0000

I’m in over my head when it comes to economics but this doesn’t sound too good, PR-wise. Lehman to hand out billions in bonuses?
http://www.independent.co.uk/n.....37560.html
Is that before or after they get taxpayer money?

By: rxbusa

rxbusa — Mon, 22 Sep 2008 12:04:23 +0000

I did go peeking around at wingnuttia, so I regret to inform you that, um, yes, kinda looks like it.

By: solai

solai — Mon, 22 Sep 2008 12:01:44 +0000

Oh, jeez, there’s not going to be a racist theme to this meltdown, is there?

By: rxbusa

rxbusa — Mon, 22 Sep 2008 11:59:00 +0000

Is this the basis…or in some way related to the specious claims that Dems “forced” Fannie Mae and Freddie Mac to make loans to people who couldn’t afford them? Not that I think the Rs bother too much about having bases for their specious claims…

By: plunger

plunger — Mon, 22 Sep 2008 11:54:51 +0000

equally important is the video about the creation of debt:

http://breadwithcircus.com/

EVERYONE needs to share this with EVERYONE.

By: Knut

Knut — Mon, 22 Sep 2008 11:53:42 +0000

Morning pups. It seems to me that this week is another one of those famous tipping points that can go one way or another. The public are being treated (for almost the first time in living memory) to a lot of negative television about Wall Street’s barons, which speaks against a Democratic sell-out to the Paulsen fleece-plan. On the other side, the financial markets may still implode, now that the plan is revealed for what it is. The markets are also going to start wondering whether the USA can support two trillion dollar fiascos instead of just one (’Don’t mention the war’–Fawltey Towers). So we will just have to keep our fingers crossed. If the markets crash, the Dems will fold.

On the plan itself, for those who haven’t studied the international aspects of the 1930s, I urge you to take a look at Barry Eichengreen’s Golden Fetters, which is probably the best account of the actual economics of the great unfolding. One of the things one learns from that book is that the seizure of dictatorial power by the executive in countries like Belgium, France and in some respects Weimar Germany was precipitated by budget crises that turned on distributional issues: who should pay for the overhang of the First World War. The upcoming struggle between the Democrats and the current Republikan administration falls into the same family of crisis. Stay tuned and write your Congress critter not to give in.