LOVE Jon!

Perfect!

yo!!! obama!!! joe!!! democrats!! wake up!!!!! they’re lsaying te wghole econimic catastrophe at your feet. it goes like this.
the whole problem started with the mortgage crisis. the mortgage crisis came about because fannie mae and fredie mac were pushing unqualified people into owning homes they couldn’t afford. that’s right. the government was helping upity black people buy homes!!!! and barack obama, mr upity himself, was they’re greatest enabler. he took tons of campaign contributions from fannie & freddie. john mccain by contrast stood up and sounded the alarm about the need for more regulation and That One did nothing.

This is horseshit. But they’re repeating this as much as they’re doing the Ayers bullshit. It’s gonna get traction because there has been almost zero pushback.

c;mon guys. call bullshit on this.

From Matt Taibbi

The reason Rove continues to survive is the same reason that Johnnie Cochran was called a genius for keeping a double-murderer on the golf course — because this generation of Americans has become so steeped in greed and social Darwinism that it can no longer distinguish between cheating and achieving, between enterprise and crime, and can’t bring itself to criticize winners any more than it knows how to be nice to losers. He survives because an increasing number of Americans secretly agree with Rove’s vision of rules, laws and “the truth” as quaint, faintly embarrassing rituals that only a sucker would let hold him back.

Rove’s comeback is evidence that the attack on our civic institutions in the Bush years wasn’t an isolated incident, something we can pin on a specific group of now-deposed politicians. It’s a trend, a thing that grows in direct proportion to our greed and ignorance. We may be a country at war, facing one of the greatest financial meltdowns of all time. But in the end, the thing that could be our undoing is the kind of generalized boredom with legality and honor that empowers Rovian behavior. If we let it.

fannie mae and fredie mac were pushing unqualified people into owning homes they couldn’t afford

Yep. And they’re really really powerful. Clinton made Franklin Raines do the same thing in Europe. /s

i’m really concerned about the lack of pushback on this. i’d rather be in our shoes than theirs right now. but the shoes could still be a little more comfortable.

OT
I received an email from Independant Senator Bernie Sanders today. Don’t know how he got my address but I sure am glad he did. Watch or read his important message.

**Sen. Bernie Sanders helped lead the opposition against the Wall
Street bailout passed by Congress. His speech on the floor of the
Senate brought forth thousands of emails and phone calls. To read the
speech,click here
.To watch
click here .

**Sen. Bernie Sanders helped lead the opposition against the Wall
Street bailout passed by Congress. His speech on the floor of the
Senate brought forth thousands of emails and phone calls. To read the
speech,click here

.To watch
click here .

Waman handled those R talking points during the hearings as though the Rs were irrelevant and petulant. Probably not good enuf, since he caved to their demands to hold hearings on fannie & freddie.

I also don’t think “the whole fault for the disaster is what Clinton did 15 years ago” is very appealing to people who noticed that it fell apart during W, who did nothing to stop it. (Um, if what Clinton did was wrong, why didn’t W reverse it?)

But I agree that more pushbak is required.

Matt Taibbi is great … haven’t seen him on Bill Maher in ages.

((( eCAHN )))

Enjoyed your comments downstairs … always learn something new … thanks !

Sorry, I’ll try again. This is from last week.

read Indepenent Senator Bernie Sanders

http://www.sanders.senate.gov/…..?id=304033

or watch it here
http://www.sanders.senate.gov/…..?id=304013

Taibi is a very clever writer, but a petulant sh*t. If he’s on your side, you are greatly bolstered & entertained. But when he’s on the other side, you can see him for what he is. Kinda like MoDo.

It was Bush promoting his “Ownership Society” who turned a blind eye to the dubious nature of subprime, adjustable rate, and other exotic loans.

Congress has been controlled by Republicans for most of Bush’s time in office yet they did nothing to rein in Fannie and Freddie. Why not?

McCain’s campaign manager was a lobbyist for Fannie and Freddie.

It was investment bankers like Henry Paulson who created the derivatives that sank the financial system.

((((Petrocelli)))

Putting as audiobook on my iPod, otherwise I’d be outside long ago. It’s a freat day here.

Dandy! Jon keeps me sane.

Thanks Eli, and Good Mornin’ to ya.

While we’re in the mood for merriment and mayhem,

here’s a new toy. Regardless of what they say, no need to sign in, nor to have cookies open or nothin’.

http://www.gop.com/volunteer/

Don’t overlook all the pull-down menus. i hope u doggies can find some nice bones to chew on there-in.

tra la. i’m off to wash a cat-carrier. don’t ask….. on the other hand, mebbe i should just send it off to A.I.G. mgmt. as is. I presume everyone knows about their next planned outing, on our dime… CNN should have a link; they covered it this a.m.

But wait. There’s more…

Set down all beverages before opening the link below, and remember, I’m only the messenger:

http://www.washingtonpost.com/…..03245.html

Somewhat OT:

The guy who’s gonna save the economy hates women and libruls, but loves AC/DC.

Bonus: and he has crazy eyes!

http://gawker.com/5060145/neel…..d-of-money

that’s sad but very true!

OT
More on sleavy NSA domestic spying.
http://thinkprogress.org/2008/…..leblowers/

We’re going to have a Great Thanksgiving Weekend … starting it by hanging Christmas Lights … *g*

Tht’s right. Your Thanksgiving is coming right up. Enjoy!

Hailin’ Palin: Moose-stepping with the Brown Skirts…

Hope they piacked up some tips while they were listening

OT McShame on TV – He has seen the ways of Washington and taken them on
Does that meen that he has adopted all of the ways of Washington

Well, makes alotta sense that a GOPer would be into AC/DC since under Repub rule, America is on a “Highway to Hell” because of the their “Dirty Deeds Done Dirt Cheap.”

What a lift…home a little sick today and needed one. Esp after watching a minute of The View. How long will petulant blondie last there? The Mcliars should be paying her. Whoopi makes a whole lot of sense and very refreshing….

I second Petrocelli’s kudos.

THANK YOU eCAHN for helping us layfolk make some sense out of the chaos.

It must be excruciatingly difficult for you to have to watch what this awful administration has been doing during their reign. So much damage. Such incredible opportunities just squandered due to their wanton greed and arrogance.

You mean stock tips? Bwahahahaha.

lying on teevee. they didn’t show the whole Obama rally so why do I have to listen to all of Mccain’s lies on MSNBC. thank goddess for mute buttons

Pushback definitely warranted. Let’s flesh it out a bit without assigning blame. I’ll need a little help here, but here’s my take.
Fannie and Freddie predominately facilitated the market in conforming loans. By definition, subprime loans are not conforming.
I do believe that Fannie and Freddie held approximately $200 Billion of subprime mortgages in a $2.5 Trillion subprime mortgage market within the$12 Trillion mortgage market
The largest securitizers and holders of subprime are private corporations like countrywide, wamu and another bank that failed a couple of years ago who’s name escapes me at this moment.

The derivatives, credit default swaps, written on these mortgage backed securities and other underlying assets is an unregulated $62 Trillion market with one of the biggest players being AIG. Bear in mind the entire treasury market is $12 Trillion. The credit default swap market is HUGE and large source of the loss of the confidence in the global financial system.

AIG was getting downgraded because of write-downs flowing through the income statement. The downgrade required more capital,$85 Million cash posted as collateral as stated in the credit default swap contracts held between AIG and its counterparties.

that too lol

At least most of them, for sure, and loves that life of $$ and secrecy. He really looks like a wreck and someone should be paying serious attention. Sad. And Cindy just buys into the absurd I guess; I could probably pay my rent on what her “shoes” cost.

Palin is the litmus test in american politics. 43-46% think she is qualified to be president- about the same percentage who plan to vote for McBush- nearly half of the american population is brain dead.

It must be excruciatingly difficult for you to have to watch what this awful administration has been doing during their reign. So much damage. Such incredible opportunities just squandered due to their wanton greed and arrogance.

So well put. Thank you.

The last report I wrote on Wall St, in February 00, was titled “Surpluses Are Worse That Deficits” because surpluses are an even greater temptation for the fed govt to be profligate. I had no idea how prescient that would be.

I keep wondering how the Daily Show does better, faster, funnier, more effective oppo research (from publicly available broadcasts, no less) than the entire Democratic Party.

demographics

If dems only needed to worry about the 18-35 vote- they’d be faster and funnier too!

I can’t believe that Brad Sheridan’s claim that lawmakers were threatened with a scenario of martial law isn’t getting any play.

updated 1 hour ago
VIENNA, Austria – North Korea announced Thursday that it is preparing to restart the facility that produced its atomic bomb, clearly indicating that it plans to completely pull out of an international deal to end its nuclear program.

Pyongyang told the International Atomic Energy Agency that it was stopping the process of disabling its main nuclear site and barring international inspectors from the Yongbyon facility, the agency said.

Thanks … I’ll be sending you some great Pie and Liqueurs through teh toobz ! *g*

These Credit Default Swaps were sold by AIG? Where did the money that was paid go. Since they didn’t have reserves was the money just going into someones pocket? They called them Credit Default Swaps so they would not be regulated like insurance but were they sold as insurance. If they were is this not fraud?

What I don’t understand about that (nd admit I’ve not been following it closely) is, didn’t they tear down the colling tower? Or is that some othe facility? Or did it never really happen?

In any event, one of W’s few foreign policy accomplishments bites the dust.

Cripes … can only mean one thing … Kim Jong Il wants payment in Euros, not USD …

I’ll be looking for them!

(((((eCAHNomics)))))

I’d really appreciate you looking in this dank little corner. I have no idea if it’d reveal anything of note, or not.

http://www.gop.com/volunteer/

if this link doesn’t work, the one at my #16 should.

Here’s something to brighten your day.
http://thinkprogress.org/2008/…..alin-book/

I haven’t followed it closesly either, but it’s an interesting story- wonder how it will effect the presidential race….McBush hardliners will claim that it only proves that talkin don’t work- only bombs work–

I don’t know how the general public will react- probably it won’t get past the daze.

Yes, the fee was paid to AIG to assume the default risk of the underlying asset such as a mortgage backed security. But they in turn hedged their risk by buying a credit default swap on that same underlying asset from someone else, say…..Lehman.
Now all their models worked if everybody has the ability to pay up, but take out one link in the chain, and someone gets screwed.

Evidently that someone is the taxpayer.

People seeking help from our food bank up 64% from last month!!!!!! Oy vay what are we going to do for all these folks?

((((Adie))))
Sorry, I don’t have the emotional fortitude for mucking about in the enemy camp. I took a quick ook when you first posted it, but don’t want to dig in.

Bomb, bomb, bomb, bomb, bomb, Pyongyang.

-G

Make them sign petitions demanding more government assistance …

DOW down 100- we ain’t hit bottom yet. Some say bottom is 8,000- some say 7,000. Every downshift catches more margin players…Millions of americans are seeing their retirement savings evaporate and many are pulling out in a panic….YIKES!

I have not seen much on DPRK in MSM. Suspect W wants it out of the public eye because his efforts have been a failure. You’re right about the way they could spin it, but don’t want to risk that would work.

No way the Repubs are gonna do that … no oil in North Korea … except in Kim’s Hair …

sarah at a town hall w/ mcsame. tough crowd. wow! uh, not.

mccain gives long answer and says i’ll let sarah speak and she says he covered everything. great job talking about healthcaere and she mentions that she and todd own a snowmachine. please, can somebody help me out with this? what, if anything, is this girl’s thought process?

I rather see the same type thing about Coulter. Where is the double-batch blonde Satann, by the way?

A bit off topic, but can anyone shed some light on why the hell Obama hasn’t raised holy hell about McBush’s plans to privatize Social Security, Cut medicare by a trillion dollars, and pay FULL FACE VALUE for failing mortgages? These are HOT topics, and the first two go right after the older demographic voter that remains loyal to McBush….

Obama has run a pretty smart campaign- but this is confusing.

Well ah’ve had eenuff of this Hoos-sane!

A confederacy of dunces led by a league of morons.

-G

P.S. Sullivan has a post up by Frum lamenting the fact that the McPalin rallies and tactics are unleashing a dangerous id that may not be contained….

Looks like Palin sucked all the wind out of the Coulter phenomenon. Hypothesis: room for only one public poisonous females on the right at a time?

From this gov’t? Why that would be socialism!! Most of these people have jobs but can’t afford rent, gas, utiities, medication/health insurance and food. It just breaks my heart. On top of that they make too much money to apply for food stamps

Like Brokaw, another of Conglomerate Media’s mainstays, Dean Reynolds, is being exposed as the fake he has been for decades. These people are not journalists. They a PR operatives. Finally people are catching on:
http://www.huffingtonpost.com/…..33276.html

Liquid Deano thinks he and his Conglomerate Media buddies are not treated properly by the Obama campaign, and has warned Obama that, “what comes around goes around.” Edward R. Murrow would be so proud of those who have followed in his footsteps.

Fundraisers/fund drives to buy food in bulk?

B-bu-but Libya’s on board … and we’re outsourcing our torture to Syria … so there’s 2 examples of Bush’s successful foreign policy initiative …

The operant or should I say nonoperant concept here is “thought”.

I have heard him mention it in passing while campaigning on the bigger issue of the economy but my guess is that it isn’t as big a 3rd rail issue in the midwest swing stgates as it would be in retirement heavy Florida and arizona

Someone’s going to pay attention … send it to Spielberg and all those who supported Ahnold …

Palin’s a “black box”– if she is thinking anything at all, it’s not relevant anyway. What IS relevant is why 40 some percent of americans LIKE HER! That’s the gooey underbelly of the US voter….

OK, I’m being catty, but anyone notice how the beauty queen sucks in her upper lip when she smears someone?

bugs me.

that’s my edifying comment for the day.

Perhaps as Obama has shown many times already, he might be waiting for just the right time? Timing is everything with this stuff, and since he’s skyrocketing in polls at the moment (good numbers coming out today again), it might make sense to keep that one for a rainy day.

He was talking about this earlier but MSM thought it was more important to put their bloviators on.

We’ve been doing some of that (we recieve corporate donations) but I don’t know how we (and other food banks that are experiencing the same phenomena) are going to be able to meet the increasing demand for services especially with the holidays coming. guess we are really going to have to try to get some more funds pumped in and to the other local food banks to meet the demand

I agree it’s probably timing. I’ve wondered the same thing about the voting record on vets issues.

I’ve considered that too- wait until it’s too late for McBush to change his position and then blow out a 20 million dollar ad campaign in swing states with older demographics. I can’t believe that this stuff wouldn’t fly in OHIO.

We aren’t the only food bank. This is happening to ALL of the food banks. The really big food bank MEND is up close to 70%. It just is staggering. No doubt we will do all we can for the food banks but it just truly hits home how many people are hurting and barely surviving.

What good numbers are you seeing? The daily tracking polls seem to be either holding steady or dropping one point?

I agree with that. Let McSFB keep touting his privatize everything mantra and then lower the million ton SS shit hammer on him at a time when it will have huge impact. Third quarter statements for 401(k)s and other plans are coming out. Let those numbers sink in for a while with folks. The loses in those plans might make the news cycle.

Got any local bands that would do charity gigs?

If you can coordinate with all food banks to get petitions, you would have thousands of signatures … then hit the MSM, Hollywood studios … show them what happens when they back dumbass candidates …

Is there a Food Not Bombs chapter near you?

Gosh these assholes should go to work for AIG so they can get their perks.
Guess they think Obama should be catering to their tour needs rather than running for presnit

Perspective break:

The world money supply is $350 trillion.
USA GNP is say $15 Trillion on a good year.
USA government runs on $3 Trillion
USA government runs $10 Trillion debt
Wars and MIC are around $1Trillion
toxic pile $62 Trillion that belongs to gamblers they own that loss
World GDP around $70 trillion

World economy is frozen and will contract for a few years because consumers have no more disposable income.

Fix disposable income and we turn it around. What part of this is so hard to get. We have mortgaged our futures with long term personal credit debt.
Insurance, medical/dental, energy, can be reduced expanding our disposable income. The trade balance that is draining capital off of our economy can be reduced dramatically with alternative energy creation. Creating new jobs in the green sector and infrastructure repair will energize the labor force.
Disposable income is the life blood of the economy. If big capital want to stay on the side line let them. Big government will take on their role.

that is an excellent suggestion. We could have a joint effort with some other food banks. Thanks, i will pass your suggestion along to the higher ups.

Perhaps Obama will dump the SS/Medicare load on McBush at the next debate and mercifully end this fuckin campaign.

Goopers are getting to the “failsafe” point where big donors have to consider whether or not it’s worth pleasing the losers for a few bucks at the risk of pissin off the winners who will be running the government.

Nobody loves ya when yer down an out.

Goopers could see donations dry up to a Palin trickle.

“Here’s ma kid’s lunch money- ah BELIEVES in Sarah.”

Debbie Wasserman Schultz is hitting on the social security issue big time on national tv and in florida. it’s obviously a very big concern to her people. She seems to be the designated spokesperson for this issue.

I couldn’t believe how McCain was just blurting this “plan” out there during the debate.

I’ll forward that along as well. All these numbers just have me a bit down today

I’m not aware of any but I’ll check

That just shows you’re human …

Emergeny food stamp bill!

thanks.

Think of them as an indication that what you, and others, are doing has an extremely high social value and now have an opportunity to shine in the face of adversity. It could very well be the beginning of a new cooperative network in your area.

Isn’t that exactly what Biden also has been saying? Who’s listening? Also Campbell Brown put in a firm warning about this stuff. Do we think Palin cares?

Always remember that you are human and never forget that you are divine

Shock Doctrine

crisis = opportunity

Why am I not treated divinely? G)

Expand disosable income…trickle up economics.

Yes, but how?

Historically that has required either an extremely low unemployment rate or very active unions. Neither seems likely in the near future.

Yeah,you are right. thanks for the kick in the butt. I guess we (translate that : I) don’t have time to feel sorry and be depressed, there is way too much work to do.

I just wrote that on a pieceof paper and posted it on the wall in the office

I think he’s saving it for FL and AZ, the latter especially, as FL seems to be moving into the Blue column. There are a lot of retirees in AZ who are going to be turned out of their homes when they can’t pay the taxes from their dwindling dividend incomes. The time to push the ads is about 8 days before the election, starting on Saturday and running three or four days straight. It should be a blitz. There may be some other states that he can turn, but these are the two obvious ones.

bigbrother
I don’t disagree with your recommended action plan.
However, that $62 Trillion will affect the globe in ways that no one has figured out yet.
I’m hoping it will run out as no one is writing these thinks right now and they are paid for annually. If we can keep the big shit pile from hitting the fan for 12 more months, maybe that piece goes away.

Maintained and grew lead in VA today. Gallup remained the same today at the all-time high. Hotline, Zogby had gains today. The National daily trackers are basically pointless anyway even though they are looking good. In the key swing states Obama’s rise in polls just in the last week has been astounding really. Just saw rumors that ARG (one of the worst, but they have been right on when SurveyUSA was way off for instance) is gonna show Obama up in West Virginia today. Amazing.
http://tpmelectioncentral.talk…..as_lea.php

Business inventories are up so buying is down now. My guess is Spring 09 will/may have some upward momentum in Manufacturing and construction.

riffing on prior post…
but if you can’t off load your risk onto a counterparty then you might have to bring those assets back on balance sheet, and if they are impaired you have to write them down and flush the losses through the income statement further down the spiral.

Did you see the article at CNN.com yesterday about the penquin release?

I think they are underestimating the effectiveness of humor and trenchant irony with us old geezers. We never quite left the 60s!

No

Here’s the link. I gotta go back to the salt mine.

Be good to yourselves, and all other living things.

Namaste

Thanks- I missed a few of those numbers.

Last thread ways to reduce income burden;
1.Take the medical down with single payer
2. Take down utilities with sustainabl energy program
3. Reduce debt service by reversing balance of payments (Macro econ but it helps free investment capital for renewable energy infrastructure: solar thermaltrical production to fuel elctric cars etc)
4.Reduce the housing rental costs by re-financing that debt at 30% lower rates.
For openers
More light rail for efficient transport of workers.
Huge efficient energy saving reinvestment like better designs.
Prevention programs for fitness to lower medical care costs..Prevention versus cure as in change life style.

Collaborative think tanks to find affordable solutions.
More organised volunteers groups that can assist.
Giving students at grad level anf below practicuums that credits their school debt and training/scholastic credit and plugs their energy into social programs.
More outside of the box ideation where there are sticking points.

The 60/70’s was where progressive ideas hit. Innovation was everywhere. Then along came Regan, Limbaugh/neocons and Gingrich.
Time for “Trickle Up Economics”. Reward workers for the productivity they have created, Target the citizen as a consuner and empower them..then the economy will start to jam.