What’s lurking in the big bailout

    Bill Smith and Ed Morrissey reveal that lurking in the proposed $700 billion bail out of the financial sector is a provision to fund community organizer groups that have historically supported, and in return have been supported by, the Democrats. Item 3(a) in the “Agreement on Principles,” reached by the U.S. Senate Banking Committee concerning the big $700 billion bailout reads: “Directs a certain percentage | Read More »

    A great walking talking multitasking organizer – how can we shut him up??

    PLEASE TELL EVERYONE: This country cannot survive with a multitasking organizer as a president, no matter how he charms you with the talk he talks and the walk he walks… Ask yourself: what is the most important and difficult task he has COMPLETED so far in his lifetime? Is that task in any way something that is required that the president MUST be able to | Read More »

    Love the Financial Crisis ? Thank a democrat.

    Now, i’m not here to blame the financial crisis soley on the democrats, GW and many GOP officeholders were enablers at least; but these articles show that Clinton, Carter and the good intentions of liberal’s desire to give housing to those who wouldn’t be able to qualify normally has the country in the mess it’s in today. Yes, greedy desires of bankers, investors and individuals | Read More »

    Burning Down The House: What Caused Our Economic Crisis?

    This is a video you should see if you want to understand what caused this crisis… Burning Down The House: What Caused Our Economic Crisis? http://www.youtube.com/watch?v=H5tZc8oH–o

    Plan B? Plan C?

    I admit to not being a Wall Street guy, but I have always had a pretty good understanding of economics and a practical sense for business. I understand that there is an incredible snowball effect resulting from the fact that there is currently no demand in the market for mortgage-based securities. None. Who wants to buy this stuff today? Only people anticipating a government bailout | Read More »

    Plan B? Plan C?

    I admit to not being a Wall Street guy, but I have always had a pretty good understanding of economics and a practical sense for business. I understand that there is an incredible snowball effect resulting from the fact that there is currently no demand in the market for mortgage-based securities. None. Who wants to buy this stuff today? Only people anticipating a government bailout | Read More »

    Banking 101 – How to Make Money Out of Nothing

    The federal reserve is a bank for bankers. It is a central bank just as The Bank of England is a central bank for the United Kingdom. The federal reserve is, in fact, the third central bank which has plagued the citizens of the United States. Both of the others were dismantled because they destroyed the nation’s money through inflation. The primary function of the | Read More »

    Conflict of Interest

    SEC chairman Christopher Cox was a partner in the law firm of Latham and Watkins. At the time of his retirement in 1986 Cox was the Partner in Charge of the Corporate Department of the Orange County office and was a member of the firm’s national management. Latham and Watkins is ranked among the largest law firms in the world. Notable clients include Goldman Sachs, | Read More »

    Is the financial crisis the result of accounting rule changes?

    As an inhouse lawyer for a Fortune 500 company in the 90s, I can definitively say that many corporate mistakes are based on a desire to get the accounting to “work out” in accordance with the goals of corporate executives. In one instance, I was asked to convert a relatively simple 2-way transaction into an incredibly complex 3-way agreement so that the transaction could be | Read More »

    A modest proposal for the bailout plan

    Here is the draft of the bailout plan. It gives Henry Paulson absolute, unchecked power to give any banks he chooses good cash for bad assets. Courts are specifically excluded from questioning his almighty will. This amounts to a direct transfer of wealth from Joe Taxpayer to the wealthy Wall Street bankers who got us in this mess — at least to those wealthy Wall | Read More »

    MI Morning Update 8-16-2008

    DaysUntil Election Day: 80 August 16, 2008 MORNING UPDATE: MICHIGAN MATTERS…taped "Michigan Matters" with Carol Cain, which will air this weekend. "Michigan Matters" airs Saturday on CBS Detroit at 11 a.m. and is repeated on Sunday on CW 50 at 11:00 a.m.  We talk about McCain, Kwame and Russia. HUGHS SULLIVAN LIVE…CANDIDATE FORUMS…CONGRESS HOEKSTRA MONDAY…on August 18th, this Monday, tune in and hear Congressman Pete | Read More »

    MI Morning Update 8-14-2008

    82 DaysUntil Election DayAugust 14, 2008 QUOTE OF THE DAY:“This is not 1968 and the invasion of Czechoslovakia, where Russia can threaten its neighbors, occupy a capital, overthrow a government and get away with it. Things have changed.” Condoleezza Rice, the US Secretary of State MORNING UPDATE: McCAIN IN MICHIGAN…a very successful day raising money, motivating the troops and doing a series of press interviews | Read More »

    Michigan Morning Update 8-13-2008

    83 DaysUntil Election DayAugust 13, 2008 MICHIGAN MORNING UPDATE: McCAIN BACKIN MICHIGAN…today, to earn your votes while Obama vacationsin Hawaii. Michigan is a battleground state and the commitment fromboth campaigns of staff and resources, as well as the polling thatshows the race in Michigan a virtual dead heat, makes your effortsso much more important! 17 Electoral Votes! RUSSIA’SSLAUGHTER ON CEASE-FIRE IN GEORGIA…in an unprecedented showof | Read More »

    Housing Crisis…what about PMI?

    PMI is extra insurance that lenders require from most homebuyers who obtain loans that are more than 80 percent of their new home’s value. In other words, buyers with less than a 20 percent down payment are normally required to pay PMI. PMI plays an important role in the mortgage industry by protecting a lender against loss if a borrower defaults on a loan and | Read More »

    Government Bailouts: Enough!

    The highway death rate in this country is about 120 deaths per day; or roughly 44,000 annually. Those deaths are typically reported individually on page 8 of local newspapers, if at all. But when a commercial airplane crashes (about every two years) killing 120 people, it becomes headline news and is billed as a “horrific national tragedy” with an outpouring of sympathy and condolences from | Read More »


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