between bailing out people who made bad choices in over-extending what they could afford for a House and giving welfare to a needy mother [who may have made a bad choice about having a kid(s) ].<br><br>Don't get me wrong - I'm not against helping the true "needy". But conservaties hype the welfare mother stuff all the time, but now Bush offers bailouts for those who may lose their home. I understand it is voluntary (on the lending institution) which may make it totally useless. But I'm questioning the discrepancy in their philosophy (ie policy flip-flop). <br><br>And in the "house" case.. the lending institutions are as guilty as the home owners who made foolish decisions.<br>And in some cases the homeowners might have lost their jobs or had to take pay cuts... well again who promoted "Free trade" and NAFTA for the past 20 + years and shipped millions of our middle class jobs to India, Pakistan, and China ? the GOP ! <br>(don't give me "it was Clinton's fault". .. sure he foolishly signed the damm bill but it was Newt and the other GOP conservatives that had pushed this in Congress since Reagan!)<br><br>David (OFI)
Stupid people.... greedy mortgage brokers. Dangerous combination.<br><br>Not really a problem with the loans per se. But they should have been qualified on payment AFTER teaser period, not qualified on teaser rate. But then I've been watching mortgage offerings for years - housing market crashes, mortgage brokers get burnt and cut back on risk loans. Wait 5 years and the risk loans are back on the table and the whole market is once again primed for disaster. But then the borrowers need to stop having the memory span of a goldfish also.<br><br>Also the Bush solution only pushes this problem out another 5 years. So buy up on some stock option puts in about 5 years and rake in another windfall!!<br><br>But was is the solution, have the tax payers pay off those loans and just give those homes to the stupid buyers?<br><br>I used to think it was terrible that life was unfair. Then I thought what if life were fair and all of the terrible things that happen came because we really deserved them? Now I take comfort in the general unfairness and hostility of the universe.
_________________________ I used to think it was terrible that life was unfair. Then I thought what if life were fair and all of the terrible things that happen came because we really deserved them? Now I take comfort in the general unfairness and hostility of the universe.
Not enough American adults understand basic economic principles, and apparently that includes even greedy lenders. When I was in HS (and it wasn't that long ago, a semester of Economics 101 was required. But so were 4 years of English Lit, 2 years of foreign language and 3 years of science (that last one explains my near F experience in Organic Chemistry).<br><br><br><br><br><br>[color:blue]I always deserve it. Really.</font color=blue><br><br>
_________________________ I always deserve it. Really.
December 2, 2007: Washington , DC (AP) Congress today announced that the <br>office of President of the United States of America will be outsourced <br>to India as of September 1, 2008.<br><br>The move is being made in order to save the President's $500,000 <br>yearly salary, and also a record $521 Billion in deficit expenditures <br>and related overhead that his office has incurred during the last 5 <br>years. "We believe this is a wise financial move. The cost savings are <br>huge," stated Congressman Thomas Reynolds (R-WA). "We cannot remain <br>competitive on the world stage with the current level of cash outlay," <br>Reynolds noted.<br><br>Mr. Bush was informed by e-mail this morning of his termination. <br>Preparations for the job move have been underway for some time.<br><br>Gurvinder Singh of Indus Teleservices, Mumbai, India will assume the <br>office of President as of September 1, 2008. Mr. Singh was born in the <br><br>United States while his Indian parents were vacationing at Niagara <br>Falls, NY, thus making him eligible for the position. He will receive a <br>salary of $320 (USD) a month, but no health coverage or other benefits.<br><br>It is believed that Mr. Singh will be able to handle his job <br>responsibilities without a support staff. Due to the time difference <br>between the US and India , he will be working primarily at night.<br><br>"Working nights will allow me to keep my day job at the Dell Computer <br>call center," stated Mr. Singh in an exclusive interview. "I am excited <br>about this position. I always hoped I would be President." A <br>Congressional spokesperson noted that while Mr. Singh may not be fully <br>aware of all the issues involved in the office of President, this <br>should not be a problem as President Bush had never been familiar with <br>the issues either.<br><br>Mr. Singh will rely upon a script tree that will enable him to respond <br>effectively to most topics of concern. Using these canned responses, he <br>can address common concerns without having to understand the underlying <br>issue at all. "We know these scripting tools work," stated the <br>spokesperson. "President Bush has used them successfully for years, <br>with the result that some people actually thought he knew what he was <br>talking about."<br><br>Bush will receive health coverage, expenses, and salary until his final <br>day of employment. Following a two week waiting period, he will be <br>eligible for $140 a week unemployment for 13 weeks. Unfortunately he <br>will not be eligible for Medicaid, as his unemployment benefits will <br>exceed the allowed limit. Mr. Bush has been provided with the <br>outplacement services of Manpower, Inc. to help him write a resume and <br>prepare for his upcoming job transition. According to Manpower, Mr. <br>Bush may have difficulties in securing a new position due to a lack of <br>any successful work experience during his lifetime. A Greeter position <br>at Wal-Mart was suggested due to Bush's extensive experience at shaking <br>hands, as well as his special smile.<br><br>
The Bill of Rights doesn't grant us our rights, it merely enumerates them.
<h2>Ask Yourself...</h2><br>[color:red]Would You Hire This Man?</font color=red><br><center><br></center><br><center><h2>RESUME of the EX- President of the United States</h2></center><br>George Walker Bush<br>1600 Pennsylvania Avenue<br>Washington, DC 20520<br><h3>Education and Experience</h3><br>Law Enforcement<br><br> * I was arrested in Kennebunkport, Maine, in 1976 for driving under the influence of alcohol. I pled guilty, paid a fine, and had my driverís license suspended for 30 days.<br> * My Texas driving record has been "lost" and is not available.<br><br>Military<br><br> * I joined the Texas Air National Guard and went AWOL. I refused to take a drug test or answer any questions about my drug use. By joining the Texas Air National Guard, I was able to avoid combat duty in Vietnam.<br><br>College<br><br> * I graduated from Yale University with a low C average. I was a cheerleader.<br> * I was given an Masters of Business Administration degree at Harvard.<br><br>Past Work Experience<br><br> * I ran for U.S. Congress and lost. I began my career in the oil business in Midland, Texas, in 1975.<br> * I bought an oil company, but couldnít find any oil in Texas. The company went bankrupt shortly after I sold all my stock. The bin Laden family gave me money to try again, and I bankrupted that company too.<br> * I bought the Texas Rangers baseball team in a sweetheart deal that took land using taxpayer money.<br> * With the help of my father and our friends in the oil industry (including Enron CEO Ken Lay), I was elected governor of Texas.<br><h3>Accomplishments as Governor of Texas</h3><br> * I changed Texas pollution laws to favor power and oil companies, making Texas the most polluted state in the Union. During my tenure, Houston replaced Los Angeles as the most smog-ridden city in America.<br> * I cut taxes and bankrupted the Texas treasury to the tune of billions in borrowed money.<br> * I set the record for the most executions by any governor in American history.<br><h3>Accomplishments as President</h3><br> * I am the first President in U.S. history to enter office with a criminal record.<br> * I invaded and occupied two countries at a continuing cost of over one billion dollars per week.<br> * I spent the U.S. surplus and effectively bankrupted the U.S. Treasury.<br> * I shattered the record for the largest annual deficit in U.S. history.<br> * I achieved negative job growth for the first time in over a century. I did this partly with my agressive job exporting/outsourcing program.<br> * I set an economic record for most private bankruptcies filed in any 12-month period.<br> * I set the all-time record for most foreclosures in a 12-month period.<br> * I set the all-time record for the biggest drop in the history of the U.S. stock market. In my first year in office, over 2 million Americans lost their jobs and that trend continues every month.<br> * Iím proud that the members of my cabinet are the richest of any administration in U.S. history. My "poorest millionaire," Condoleezza Rice, has a Chevron oil tanker named after her.<br> * I set the record for most campaign fund-raising trips by a U.S. President.<br> * I am the all-time U.S. and world record-holder for receiving the most corporate campaign donations.<br> * My largest lifetime campaign contributor, and one of my best friends, Kenneth Lay, presided over the largest corporate bankruptcy fraud in U.S. History, Enron.<br> * My political party used Enron private jets and corporate attorneys to assure my success with the U.S. Supreme Court during my election decision.<br> * I have protected my friends at Enron and Halliburton against investigation or prosecution. More time and money was spent investigating the Monica Lewinsky affair than has been spent investigating one of the biggest corporate rip-offs in history.<br> * I presided over the biggest energy crisis in U.S. history and refused to intervene when corruption involving the oil industry was revealed. I presided over the highest gasoline prices in U.S. history.<br> * I changed the U.S. policy to allow convicted criminals to be awarded government contracts.<br> * I appointed more convicted criminals to administration than any President in U.S. history.<br> * I created the Ministry of Homeland Security, the largest bureaucracy in the history of the United States government.<br> * Iíve broken more international treaties than any President in U.S. history.<br> * I am the first President in U.S. history to have the United Nations remove the U.S. from the Human Rights Commission.<br> * I withdrew the U.S. from the World Court of Law.<br> * I refused to allow inspectorís access to U.S. "prisoners of war" detainees and thereby have refused to abide by the Geneva Convention.<br> * I am the first President in history to refuse United Nations election inspectors (during the 2002 U.S. election).<br> * I set the record for fewest numbers of press conferences of any President since the advent of television.<br> * I set the all-time record for most days on vacation in any one-year period. After taking off the entire month of August, I presided over the worst security failure in U.S. history.<br> * I garnered the most sympathy for the U.S. after the World Trade Center attacks and less than a year later made the U.S. the most hated country in the world, the largest failure of diplomacy in world history.<br> * I have set the all-time record for most people worldwide to simultaneously protest me in public venues (15 million people), shattering the record for protests against any person in the history of mankind.<br> * I have cut health care benefits for war veterans and support a cut in duty benefits for active duty troops and their families ó in wartime.<br> * I am the first President in history to have a majority of Europeans (71%) view my presidency as the biggest threat to world peace and security.<br> * I am supporting development of a nuclear "Tactical Bunker Buster", a WMD.<br> * I have so far failed to fulfill my pledge to bring Osama Bin Laden to justice.<br><br>Records and References<br><br> * All records of my tenure as governor of Texas are now in my fatherís library, sealed and unavailable for public view.<br> * All records of SEC investigations into my insider trading and my bankrupt companies are sealed in secrecy and unavailable for public view.<br> * All records or minutes from meetings that I, or my Vice-President, attended regarding public energy policy are sealed in secrecy and unavailable for public review.<br><br>[color:green]"...or am I a butterfly that's dreaming she's a woman?"</font color=green> [color:green]. . . _ _ _ . . .</font color=green><br>
_________________________ . "...or am I a butterfly dreaming she's a woman?"
That's the dilemma... but why do we keep bailing out the financial industry. Remember the S&L bailout under Reagan. <br><br>It just makes these crooks more greedy and bold.<br><br>My understanding is that it's voluntary with respect to the lenders. Wonder how many will be influenced... they have to cut the rate and lose potential profit. But anything is better thna $0.<br><br>David (OFI)
Don't forget the Chrysler bail out. I'm sure there's an academic term for this sort of leveraging/blackmail, but it seems in all these instances that the "big money" crooks use "we the people" as the fulcrum in this big national swindles. They, the leaders of the thrifts, Chrysler, mortgage lenders, fill in your blank, get so deep into so many that it actually is cheaper to the national economy to bail out the victim directly than to let the offending system crash and then repair the collateral damage for the next decade or so. I'll bet there's a bigger cycle of bad economics that we haven't yet recognized that these crime sessions are only a part of. <br><br>
The Bill of Rights doesn't grant us our rights, it merely enumerates them.
<br>Many GREAT Civilizations has fallen into the same trap.<br><br>Looks like OUR TURN is coming around.<br><br>Why do you think the BANKERS have been so frantic to <br>make sure that they come out on top this time around?<br><br>Stoopit stoopit stoopit people!<br>It's happening right under their very nose<br>yet they just larf when someone sez:"RUN FOR THE HILLS!"<br><br><br><br>[color:green]"...or am I a butterfly that's dreaming she's a woman?"</font color=green> [color:green]. . . _ _ _ . . .</font color=green><br>
_________________________ . "...or am I a butterfly dreaming she's a woman?"
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