donspoliticalblogslk's Blog

Pardon Ignacio Ramos and Jose Compean One last time Mr. Bush, here’s your chance to redeem your self in the eyes of many. You have two Border Agents Compean and Ramos locked up in Federal Prison for doing what 90% of Americans wanted them to do. It’s in your power to commute their sentences and bring them back to their families. These men are hero’s to most Americans and are considered political prisoners by the Bush Administration. They should be released immediately and they should receive 100% of their back pay. Your Federal Prosecutor Johnny Sutton painted a picture of a poor itinerant Mexican just trying to make a living he met these two Border Agents who were on patrol in an area assigned to them to prevent smugglers and illegal aliens from entering the country. These two bullies shot this poor Mexican in cold blood in the rump as he tried to get away with his 700 pounds of dope. Come on Mr. Bush enough is enough. This Mexican who was shot was given immunity by Sutton to testify against these men and soon after was re arrested for smuggling even more dope into the country. If they had just aimed a little higher we would have less junk on our streets. These men have had to be placed in solitary confinement for their own protection as they are surrounded by Mexican drug smugglers in these prisons. It would be like you being placed in a prison with Al Qaeda prisoners who are sworn to kill you. What are you thinking Mr. President? What kind of deal with Mexico could you possibly have to keep these brave men incarcerated?

You have asked and received support from many of us for the war in Iraq. Actually we are embroiled in three wars Mr. President, Iraq, Afghanistan and the war on drugs which we are losing badly. We have documented cases of actual military incursions across our border where the Mexican Soldiers have guarded the escape of drug smugglers even firing their weapons in the process. All this and you let Sutton keep these two locked
up in a living heii. I voted for you twice and I must say I am totally disappointed in your last term. Most of us were so proud of the way you took charge after 9/11 but you have failed badly in all areas of the domestic front. You have personally set back the Conservative Movement at least ten years. Please Mr. President I beseech you, release these men immediately and remove all stigma from their record. They and their families have suffered greatly at hands of your administration.

Ask the people of this Nation who they would call a hero, Scooter Libby whom you pardoned immediately or Ignacio Ramos and Jose Compean who are still locked up in prison. I guess if you’re not a Washington insider it just doesn’t count.

America it’s our fight now, we have do everything in our power to get these men released. They were doing their job trying to protect us when they were caught up in some insider event that I believe had nothing to do with what actually happened. The politics involved in this goes much deeper than just the wounding of a known drug smuggler. Cops shoot it out and wound drug dealers all the time and nothing ever is said about it, why then is this injustice still going on?

And that’s my Opinion,
Don

What I’m about to tell you will make your hair stand on end. We could possible have more oil reserves than all of the Middle East and the Gulf of Mexico. Over the years prior to 1996 the major oil companies drilled a lot of holes around the North Dakota are didn’t find what they were looking for and went on to drill the Gulf of Mexico where oil deposits were proven to be. A Geologist working for the U.S.G.S. named L.C.Price performed extensive chemical analysis of abandoned oil wells in the North Dakota area and arrived at the conclusion that “The Bakken Trend” has 200 to 500 Billion barrels of oil untapped under ground. This is not Shale Oil but true oil reservoirs. Price turned in his report to the U.S.G.S. in 1999 and they started their own review of his work. Mr.Price died in 2002 and the U.S.G.S. is still holding on to his report and refuses to release their findings.

Now I find this mighty strange with the circumstances we find ourselves in as far as oil is concerned. This could possibly make us independent from those middle east leaches we have been forced to deal with for so long. Don’t try to read any particular politics into this as it has been known about by several administrations or their representatives. As the friend of mine who brought this to my attention put it “ Strange?? You bet! But then nothing is strange when it is overseen by our good old government and huge sums of $$ are at stake.” “ Could there be forces at play or Cabals here or overseas that for unknown reasons don’t want to shut the money off and quit feeding the Middle East with Billions of our dollars every month?”

Item:

1. The U.S. Geological Service issued a report in April 20'08 what only
scientists and oilmen knew was coming, but man was it big! It was a
revised report (hadn't been updated since '95) on how much oil was in
this area of the western 2/3 of North Dakota; western South Dakota; and
extreme eastern Montana ... check THIS out:

The Bakken is the largest domestic oil discovery since Alaska's
Prudhoe Bay , and has the potential to eliminate all American dependence
on foreign oil. The Energy Information Administration (EIA) estimates it
at 503 billion barrels. Even if just 10% of the oil is recoverable... at
$107 a barrel, we're looking at a resource base worth more than $5.3
trillion.

'”When I first briefed legislators on this, you could practically see
their jaws hit the floor. They had no idea.” says Terry Johnson, the
Montana Legislature's financial analyst.

'This sizable find is now the highest-producing onshore oil field found
in the past 56 years,' reports The Pittsburgh Post Gazette. It's a
formation known as the Williston Basin , but is more commonly referred
to as the 'Bakken.' And it stretches from Northern Montana, through
North Dakota and into Canada . For years, U.S.oil exploration has been
considered a dead end. Even the 'Big Oil' companies gave up searching
for major oil wells decades ago. However, a recent technological
breakthrough has opened up the Bakken's massive reserves... and we now
have access of up to 500 billion barrels. And because this is light,
sweet oil, those billions of barrels will cost Americans just $16 PER
BARREL!

That's enough crude to fully fuel the American economy for 41 years
straight.

2. And if THAT didn't throw you on the floor, then this next one
should - because it's from TWO YEARS AGO, people!:
U.S.Oil Discovery- Largest Reserve in the World!
Stansberry Report Online - 4/20/2006 -- Hidden 1,000 feet beneath the
surface of the Rocky Mountains lies the largest untapped oil reserve in
the world is more than 2 TRILLION barrels. On August 8, 2005, President
Bush mandated its extraction.

They reported this stunning news: We have more oil inside our borders,
than all the other proven reserves on earth. Here are the official
estimates:
-8-times as much oil as Saudi Arabia
-18-times as much oil as Iraq
-21-times as much oil as Kuwait
-22-times as much oil as Iran
-500-times as much oil as Yemen- and it's all right here in the Western
United States .

HOW can this BE? HOW can we NOT BE extracting this!? Because the
democrats, environmentalists and left wing republicans have blocked all
efforts to help America become independent of foreign oil.

James Bartis, lead researcher with the study, says “we've got more oil in
this very compact area than the entire Middle East -more than 2 TRILLION
barrels. Untapped. That's more than all the proven oil reserves of crude
oil in the world today,” reports The Denver Post.


Checking with Snopes.com, they feel some of the numbers may be exaggerated but do not say this is untrue. I for one will ask our delightful Senator Reid if he knew anything about this find. Maybe you should all do the same. If this proves to be true I think it’s time to get rid of the entire bunch of them. We saw how much money they took from Fannie and Freddie, how much do you think they have sequestered away from the oil barons of the world just to keep this quiet? It doesn’t take a genius to understand these type of economics, it’s simply one for you and ten for us cause we are elitists and deserve more.

And that’s my opinion,
Don

Living an a small rural town where the majority of the people are fairly conservative it is interesting to me when I get legitimate comments from those who think differently. I’m not talking about the whacko left who spout nothing but talking points from the liberal handbook, I mean comments from real hardworking Americans who because of different circumstances in their lives have different ideas. I try to understand their reasons for feeling the way they do as I’m sure they try to understand my point of view. Circumstances have a tremendous amount to do with a persons politics. Not all poor people are liberal democrats just as not all rich people are republicans.

I have been through many elections in my day and seldom have I felt as afraid as I do now for my country. I honestly feel we are having our countries honor and sole stolen from us. I have tried to look to this election as I have so many others with the attitude that it really doesn’t matter which candidate wins, America will still be America when we wake up on the 5th of November. I can’t convince myself that this is true this time. I have talked to literally hundreds of people of all walks of life and I think many have been sold a bill of goods that can’t be delivered on.

Most of the older Democrats I have talked to have no idea of how liberal an Obama, Reid, Pelosi, Dodd and Frank government could be. Not one of the older Dems I asked like the way the liberalization of morals have taken over our society. They are extremely affronted by the same sex marriage principles that the party expounds. They really don’t want to turn on their TV and see nudity and foul language in prime time. They are absolutely amazed at the lack of education due to the dumbing down of our scholastic principles that our children are receiving. They really get upset when you show them the way our Social Security System is being looted by people who have never paid a dime into it.

My family was always staunch democrats, good union people and proud of the way the party always looked out for the working man. Both my mother and father are gone now and I’m glad they didn’t live to see what their party has become. My Mother and Father always worked for everything they got as did the rest of our family, they had little respect for those who thought the government should be their provider. My family took in other kids when their families couldn’t or wouldn’t support them. From the days of my older brothers to my time we always seem to have an extra seat at the table when someone was hungry. It wasn’t just food they provided, it was a sense of pride and self confidence they instilled in so many. The government didn’t tell them to do it or even provide money for the act of kindness it was just the American way to them.

My dad would read about Socialism and Communism in the Book of Knowledge especially when my brother was in Korea. He would always point out how it was evil because it took away a persons pride and dignity and more than anything it took away their desire to achieve all they were capable of, that’s what we’re fighting in Korea for he would tell us. He used to say America is truly a land of opportunity, you can be all that you have the gumption to be. My Dad really believed in what he said and I guess those values were passed to my brothers and I and we have tried to pass them on to our children.

The term Democrat and Republican don’t mean squat anymore, the parties have become so polarized that they can’t even function as a government body. I don’t feel a tinge of loyalty to either party anymore but I do feel a strong sense of loyalty to those who have passed before us and paid for this wonderful country we call home. I will fight to my dying day for a persons right to an opinion but when they sell that opinion with a bill of goods based on lies and deceit I will do all in my power to defeat them.

And that’s my opinion,
Don

Once upon a time when America was all new and shiny, she slipped into a depression and the world fell with her. Many people were hurt by this depression to the point that it hardened them to see thing differently than before. My parents suffered through this time and learned to make each penny count and each dime felt like a dollar to them. Dad traveled throughout the west to work where ever work was too be found. Grand Coulee Dam and many other projects that our government used to beef up our infra structure and create much needed jobs. We are just beginning to feel the cold blast of another devastating period that without action will soon envelop us once again. This one was brought on by greed and fueled by complacency.

It took my father until he was in his 60’s to ever trust a bank again. He and mom used to hide their meager savings in a can in the basement and wouldn’t touch it unless it was an emergency. I used to chide my folks about their reluctance to live a little now and then and their answer would always be “someday you’ll understand”. I think that day has come, I have always allowed my family the best of what I could afford and paid little attention to the bargains available. All I can say now is, BRING ON THE BARGAINS!

We know that this was brought on by an over zealous desire to bring the American dream of owning a home to all people. What was forgotten in all this is the old adage that states “if you didn’t earn something it would have little value to you.” We prodded our lending institutions into making subprime loans to undeserving buyers. The privation of Fannie Mae and Freddie Mac in the 60’s and the push to create quotas of subprime borrowers by offering ridiculous bonus to those who were in charge in the 90’s has brought us to this point. Who what and why did we do it will be argued for years to come, we all have our own opinion and it doesn’t seem that anything good will happen over the discussion. Deregulation had little to do with the final problem and cause.

How do we solve this without going broke? The 700 to one trillion dollar bailout is not the answer we hoped for. All this accomplished was to leave our children and grand children deeper in debt and it allows the perpetrators of this fiasco to get out unscathed. Taxing us out of the problem will put us into a real depression for sure. America has always been the leader in the global economy and it will once again be up to us to find the solution for the world to follow. Socialism is not the answer to this problem redistribution of wealth is no different than giving loans to undeserving borrowers. By taxing those who create jobs is surely not the answer. In my humble estimation we need to focus our bailout between industry and the small business community to create jobs and offer security to our blue collar work force. By funding the SBA with enough money to offer instant financial support for the entrepreneurs in the country to keep their people working and creating a superfund for industry loans to see them through a retooling and restructuring period for tomorrows requirements. Just as in the past, workers are the key to our recovery. People work and they spend money, buying homes, cars, furniture and appliances.

This socialistic focus we have on entitlements is unhealthy. Nowhere in the constitution does it say we are entitled to free medical services. Nowhere in the constitution does it say we are entitled to a free education. These things can be provided through private organizations and insurance programs. We have driven the cost of medical insurance so high by ridiculous law suits and phony claims for injury that we are suffering for our greed once again. Doctors are afraid to even enter into general medicine because of this and have chosen to specialize thereby once again increasing our overhead for medical services. Doctors aren’t exempt from blame either, they have become leaches sucking the blood from a Medicare system that has been poorly thought out and poorly managed.

I guess what I’m saying here is that we the people have to change and not allow government to be our financier, our provider or our advisor. We have to stand up as my folks and many of yours did many years ago and take charge of our own lives. Socialistic programs won’t bring back the glory of America, I afraid only hard work will do that.

And that’s my opinion,
Don

Being as old as I am I can remember clearly the election of 68. The youth of America were sold a bill of goods by the liberals in the Democratic party and were ready to fight and die for Eugene McCarthy. They fought in the streets of Chicago during the Democratic convention causing tremendous turmoil in the country. I can remember being stuck on a Freeway in Seattle by a peace march that was blocking traffic. The sad thing was there was an ambulance next to my car and they were trying desperately to get to Harbor view hospital with a critically injured man. Needless to say the man died in route and the crowd that was blocking traffic never even knew his name or the fact that he had a family who loved him and who needed him. The ambulance attendants said that he should have made it but when they were blocked they didn’t have the things necessary to save him on board.

These kids were being taught to be anarchists from the colleges and universities they attended. I could understand their disdain for war and wanting to stop it but instead of turning the public against themselves they should have worked to get the public involved in their fight. These kids learned from their mistake in the 60’s and are now the professors and teachers who are teaching the youth of today. The idea of peace at all cost is intriguing to a youngster when they are not taught the consequences of their movement. Believe me not all wars are fought for the right reasons and we learned that from the Kennedy and Johnson years. As a Country though once embroiled in a conflict it should be our duty to protect the people who we have sent into harms way. Protest has never done that, they have only confused and left a wedge between the people of America to the point that we are no longer united. I feel it is the duty of all Americans to work to bring our troops home safely. The best way to do that is to allow them to win and not covet the enemy by creating doubt here at home.

We have always had the ability to win but a few politicians have in every war since the 2nd World War stood in the way of victory. They claim they are the peace makers but in real life they have impeded the process of long term peace and have put our men and women at risk in doing so. It’s as if we have learned nothing from history. If we want peace we have to be strong to the point of creating fear among our enemies. When we are at war the whole Country should be at war not just our soldiers. We have the know how, we have the weapons and we have the greatest military on earth yet we allow a minority of our population to bring us to our knees in front of the entire world.

We have created a generation of little people who would rather have someone else or the government take care of their problems. Little people who have never taken responsibility for their own actions, the not me generation. Where are the giants who have stepped up to lead us in the past? Where are the Roosevelts, the Trumans the Eisenhowers and Reagans who stood larger than life to lead us to victory and real peace. What do we have now from the left wing of the democratic party but another peace at all cost and give everyone something for nothing candidate. The promise of change is all it takes, the fact that we will be changing from a democratic republic to a socialist republic doesn’t seem to matter to many. I think the world is in for a big surprise come the 4th of November when the majority in our country are by themselves in the voting booth and decide that they are not quite ready to give up on our America.

And that’s my opinion,
Don

Too whom it may concern,
I still have a great deal of doubt in my mind about where Senator Obama wants to take our country. I am not a bigot nor am I a racist so don’t start with that. I have always believed that anyone who was nominated by either party for the Office of the President would be first and foremost a true patriot. If my calculations are right he will bring us the first socialist administration in our history. Roosevelt came close with his new deal but the war brought out the capitalistic nature of America. Many say we would never have gotten out of the depression if World War II hadn’t happened. When Pelosi and Reid socialists all team up with an Obama presidency I fear we will know what the term socialism means here in America. "Democracy fails when the people find out they can vote themselves gifts from their government." Alexander Tyler a Scottish history professor at the University of Edinburgh 1777.

The ties that the Senator has had to various people have left a huge question on his integrity. Leaving the Trinity Church after 20 years and suddenly disavowing Reverend Wright’s racist comments is one of them. The fact that he is not casually as he put it tied to William Ayers the bomber is another. There have been several instances of this involvement and not just in passing as has been stated. They have showered each other with Grants and endowments.

He has not been forthcoming with a certified copy of his birth certificate as promised. (The one on the web site according to the experts has been altered.) His college thesis is another blank spot that might show where his head was at the time. His affiliation with ACORN is one more. Did he really train the staff at ACORN on how to intimidate business to get donations and favors. Gangster Tony Rezco comes to mind from his Chicago days.

Some of his statements in his books for example, the one where he says if things go badly he would chose the Muslims. What did he mean? His relationship if any with Larry Sinclair a Chicago Homosexual who claims that he had an affair with Obama. His dealings with the Daley machine in Chicago. These are not gotcha questions. They are valid and need to be addressed for the comfort of the majority of Americans.

If the same questions were being asked of McCain the media would on them like bee’s to honey. They’ve proved where their sympathies lie with the attempted deflowering of Sarah Palin in the last few weeks.

Senator Obama has sailed past the usual scrutiny of any candidate by the media and somehow has not even had to answer the most meaningful questions about his past. The liberal press has made this candidate from his toes to nose and won’t do anything to disturb their programing. I have to wonder what did Hillary do to make so many enemies in the press. They left her in the cold and showered Obama with the gold.

And that’s my opinion,
Don

This is an indepth look at what my preliminary blog of yesterday tried to explain. Feel free to check sources listed at the bottom for more detail. I believe it is extremely important for the American people to know the depth of the coverup that is going on in Congress.

IMPORTANT!!!!!
The following is a condensation of a series from the Investor's Business Daily explaining "What Caused the Loan Crisis": 1977: Pres. Jimmy Carter signs the Community Reinvestment Act into Law. The law pressured financial institutions to extend home loans to those who would otherwise not qualify. The Premise: Home ownership would improve poor and crime-ridden communities and neighborhoods in terms of crime, investment, jobs, etc.

Results: Statistics bear out that it did not help.

Question: How did the government get so deeply involved in the housing market?
Answer: See below to find out who is covering up their guilt !
1992: Republican representative Jim Leach (IO) warned of the danger that Fannie and Freddie were changing from being agencies of the public at large to money machines for the principals and the stockholding few.
1993: Clinton extensively rewrote Fannie Mae and Freddie Mac's rules turning the quasi-private mortgage-funding firms into semi-nationalized monopoies dispensing cash and loans to large Democratic voting blocks and handing favors, jobs and contributions to political allies. This potent mix led inevitably to corruption and now the collapse of Freddie and Fannie.
1994: Despite warnings, Clinton unveiled his National Home-Ownership Strategy which broadened the CRA in ways congress never intended.
1995: Congress, about to change from a Democrat majority to Republican, Clinton orders Robert Rubin's Treasury Dept to rewrite the rules. Robt. Rubin's Treasury reworked rules, forcing banks to satisfy quotas for sub-prime and minority loans to get a satisfactory CRA rating. The rating was key to expansion or mergers for banks. Loans began to be made on the basis of race and little else.
1997 - 1999: Clinton, bypassing Republicans, enlisted Andrew Cuomo, then Secretary of Housing and Urban Developement, allowing Freddie and Fannie to get into the sub-prime market in a BIG way. Led by Rep. Barney Frank and Sen. Chris Dodd, congress doubled down on the risk by easing capital limits and allowing them to hold just 2.5%of capital to back their investments vs. 10% for banks. Since they could borrow at lower rates than banks their enterprises boomed.
With incentives in place, banks poured billions in loans into poor communities, often "no doc", "no income", requiring no money down and no verification of income. Worse still was the cronyism: Fannie and Freddie became home to out-of work-politicians, mostly Clinton Democrats. 384 politicians got big campaign donations from Fannie and Freddie. Over $200 million had been spent on lobbying and political activities. During the 1990's Fannie and Freddie enjoyed a subsidy of as much as $182 Billion, most of it going to principals and shareholders, not poor borrowers as claimed.
Did it work? Minorities made up 49% of the 12.5 million new homeowners but many of those loans have gone bad and the minority homeownership rates are shrinking fast.

1999: New Treasury Secretary, Lawrence Summers, became alarmed at Fannie and Freddie's excesses. Congress held hearings the ensuing year but nothing was done because Fannie and Freddie had donated millions to key congressmen and radical groups, ensuring no meaningful changes would take place. "We manage our political risk with the same intensity that we manage our credit and interest rate risks," Fannie CEO Franklin Raines, a former Clinton official and current Barack Obama advisor, bragged to investors in 1999.
2000: Secretary Summers sent Undersecretary Gary Gensler to Congress seeking an end to the "special status". Democrats raised a ruckus as did Fannie and Freddie, headed by politically connected CEO's who knew how to reward and punish. "We think that the statements evidence a contempt for the nation's housing and mortgage markets" Freddie spokesperson Sharon McHale said. It was the last chance during the Clinton era for reform.
2001: Republicans try repeatedly to bring fiscal sanity to Fannie and Freddie but Democrats blocked any attempt at reform; especially Rep. Barney Frank and Sen.Chris Dodd who now run key banking committees and were huge beneficiaries of campaign contributions from the mortgage giants.
2003: Bush proposes what the NY Times called "the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago". Even after discovering a scheme by Fannie and Freddie to overstate earnings by $10.6 billion to boost their bonuses, the Democrats killed reform.
2005: Then Fed chairman Alan Greenspan warns Congress: "We are placing the total financial system at substantial risk".

Sen. McCain, with two others, sponsored a Fannie/Freddie reform bill and said, "If congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole".
Sen. Harry Reid accused the GOP ;of trying to "cripple the ability of Fannie and Freddie to carry out their mission of expanding homeownership" The bill went nowhere.
2007: By now Fannie and Freddie own or guarantee over HALF of the $12 trillion US mortgage market. The mortgage giants, whose executive suites were top-heavy with former Democrat officials, had been working with Wall St. to repackage the bad loans and sell them to investors. As the housing market fell in '07, subprime mortgage portfolios suffered major losses. The crisis was on, though it was 15 years in the making.
2008: McCain has repeatedly called for reforming the behemoths, Still the media have repeated Democrats' talking points about this being a "Republican" disaster. A few Republicans are complicit but Fannie and Freddie were created by Democrats, regulated by Democrats, largely run by Democrats and protected by Democrats. That's why taxpayers are now being asked for $700 billion!!
Why is it that Democrats REFUSE to acknowledge these FACTS? Are they so single-minded that they are willing to give away our democracy, our comfortable way of life, to satisfy some mysterious ideology?


If you doubt any of this, just click the links below and listen to your lawmakers' own words. They are condeming! If a click does not bring you there, copy the address and paste it in your browser address box.

http://www.youtube.com/watch?v=68D9XrqyrWo&feature=rela

ted#

http://www.youtube.com/watch?v=pIgqfM5C8lY#

http://www.youtube.com/watch?v=H9juJr8CSY4&feature=rela

ted#
Postscript: ACORN is one of the principle beneficiaries of Fannie/ Freddie's slush funds. They are currently under indictment or investigation in several states. Barack Obama served as their legal counsel, defending their activities for several years.

I felt that this was important to get out to the people of America. If you have any doubt listen to their own words. For you who will call this another right wing smear I hope you are prepared to live in a different America than the one that has been so blessed. We are headed for a Socialist government and once in place it will take a revolution to change. Our forefathers must be spinning in their graves at the thought of all their work and preparation would be coming to this end.

And that's my opinion,
Don

Thank God for small favors, the market made a giant leap on Monday but somehow I really don’t think the slide is totally over. The sell out of America has just begun. By that I mean that we have just began to see the scope of this so-called bailout of financial institutions. The 700 Billion they have called for is already over a Trillion dollars if you add up the money that has already been pledged. I understand that something had to be done but to put our country and our descendents at risk to do it is in my mind ridiculous. We already owe China over a Trillion and the Japanese are right behind them. In case you didn’t know a trillion is a thousand, billion (that’s 12 zeros) and we don’t even have a calculator that will go that high at our house. The cause of this fiasco has been lied about and blame has been everywhere but where it belongs.

History of Fannie and Freddie;
Roosevelt started the Fannie Mae program in 1933 to help people recover from the depression. It sailed along wonderfully until 1968 when the Johnson Administration in an attempt to balance their wartime budget and hide money for the war privatized Fannie Mae to get it out of the mix. During the Clinton years pressure was brought by the minority community and the Black Caucus to relax the stringent qualification standards on home loans. This relaxation gave way to the land rush of the 90’s and early 2000’s. In 2003 the Bush administration asked congress for oversight, as there was discrepancies in the bookkeeping at Fannie Mae. Extremely large bonuses were being paid to the CEO and other financial officers in the company. The Treasury Secretary at the time was John Snow he went to Congress and the following is what happened.

The hearing came about because two Bush Administration cabinet secretaries had presented the committee with a "proposal to improve regulatory oversight for the GSEs" with an opening statement, including: "There is a broad agreement that the current regulatory structure for the GSEs is not operating as effectively as it should. The Office of Federal Housing Enterprise Oversight is underfunded, understaffed and unable to fully oversee the operations of these sophisticated enterprises."

This request was met by the following statements;
Barney Frank (D-Mass.), the ranking Democratic committee member at the time (and is its chairman today), said, "I think it is clear that Fannie Mae and Freddie Mac are sufficiently secure so they are in no great danger... Fannie Mae and Freddie Mac do very good work, and they are not endangering the fiscal health of this country."

Representative Maxine Waters, (D-Calif) made clear the Democrats' true mission for Fannie and Freddie, namely to find a way to get minorities into houses even if they would not meet the qualifications for standard loans, such as the ability to bring a down payment to the transaction. Waters seemed particularly proud to say "since the inception of goals from 1993 to 2002, loans to African-Americans increased 219 percent and loans to Hispanics increased 244 percent, while loans to non-minorities increased 62 percent. "Additionally, in 2001, 43.1 percent of Fannie Mae's single-family business served low-and moderate-income borrowers ... the GSEs are working."

The next panel at that hearing included George Gould, a long-time Freddie Mac board member and former Under Secretary for Finance at the Department of the Treasury, who discussed Freddie's view of the situation. He testified that: "Freddie Mac's franchise is rock solid. Our exposure to both credit risk and interest rate risk remains extremely low." "These are strong incentives for the GSEs to meet the goals year after year, to say nothing of the reputational penalties of failing to meet a goal. "Considering that we have consistently met the permanent affordable housing goals, additional enforcement authority seems unnecessary. Therefore, we would respectfully suggest that no additional authority is needed." This last statement reinforces the position taken by Maxine Waters that the mission of the GSEs is primarily to increase "affordable housing" regardless of how that gets done.

Next up was Franklin Raines, CEO of Fannie Mae. Raines made millions in bonuses when Fannie Mae manipulated earnings to meet the highest profit and "affordable housing" targets. "Freddie Mac's franchise is rock solid. Our exposure to both credit risk and interest rate risk remains extremely low." There were many other comments by various House members during these hearings and all reflected the same tone. You can find this info yourselves by looking up the congressional record or googling fannie mae or freddie mac.

And that my friends is the true history of the financial melt down of Fannie Mae and dear old Freddie Mac. The politicians were in such a hurry to get this bailout passed because it had become a cash cow for so many of them. Senator Christopher Dodd at $161,000 was the largest taker followed by Senator Obama at $120,000 and Congressman Barney Frank was third. The Democrats weren’t alone in this several Republicans were just as guilty. McCain was even the recipient of just over $20,000. towards his campaign. I guess they felt they could buy just about anybody. I’m tired of the charade in Washington and think it’s time to replace all of them. Just one of these candidates should try and tell the truth.

And that’s my opinion,
Don

This is an email I received from a friend. It kind of raps up all the questions into one package. Don

To All My Friends, this is long, but every important, please take the time to read it. Around 1979 Obama started college at Occidental in California . He is very open about his two years at Occidental, he tried all kinds of drugs and was wasting his time but, even though he had a brilliant mind, did not apply himself to his studies. 'Barry' (that was the name he used all his life) during this time had two roommates, Muhammad Hasan Chandoo and Wahid Hamid, both from Pakistan .

During the summer of 1981, after his second year in college, he made a 'round the world' trip. Stopping to see his mother in Indonesia , next Hyderabad in India , three weeks in Karachi , Pakistan where he stayed with his roommate's family, then off to Africa to visit his father's family. My question - Where did he get the money for this trip? Nether I, nor any one of my children would have had money for a trip like this when they where in college. When he came back he started school at Columbia University in New York . It is at this time he wants everyone to call him Barack - not Barry. Do you know what the tuition is at Columbia ? It's not cheap to say the least! Where did he get money for tuition? Student Loans? Maybe. After Columbia , he went to Chicago to work as a Community Organizer for $12,000 a year. Why Chicago ? Why not New York ? He was already living in New York .

By 'chance' he met Antoin 'Tony' Rezko, born in Aleppo Syria , and a real estate developer in Chicago . Rezko has been convicted of fraud and bribery this year. Rezko, was named 'Entrepreneur of the Decade' by the Arab-American Business and Professional Association'. About two years later, Obama entered Harvard Law School . Do you have any idea what tuition is for Harvard Law School ? Where did he get < br> the money for Law School? More student loans? After Law school, he went back to Chicago . Rezko offered him a job, which he turned down. But, he did take a job with Davis, Miner, Barnhill & Galland. Guess what? They represented 'Rezar' which is Rezko's firm. Rezko was one of Obama's first major financial contributors when he ran for office in Chicago . In 2003, Rezko threw an early fundraiser for Obama which Chicago Tribune reporter David Mendelland claims was instrumental in providing Obama with 'seed money' for his U.S. Senate race.

In 2005, Obama purchased a new home in Kenwoood District of Chicago for $1.65 million (less than asking price). With ALL those Student Loans - Where did he get the money for the property? On the same day Rezko's wife, Rita, purchased the adjoining empty lot for full price. The London Times reported that Nadhmi Auchi, an Iraqi-born Billionaire loaned Rezko $3.5 million three weeks before Obama's new home was purchased. Obama met Nadhmi Auchi many times with Rezko. Now, we have Obama running for President. Valerie Jarrett, was Michele Obama's boss. She is now Obama's chief advisor and he does not make any major decisions without talking to her first. Where was Jarrett born? Ready for this? Shiraz , Iran ! Do we see a pattern here? Or am I going crazy?

On May 10, 2008 The Times reported, Robert Malley, advisor to Obama, was 'sacked' after the press found out he was having regular contacts with 'Hamas', which controls Gaza and is connected with Iran . This past week, buried in the back part of the papers, Iraqi newspapers reported that during Obama's visit to Iraq , he asked their leaders to do nothing about the war until after he is elected, and he will 'Take care of things'. Oh, and by the way, remember the college roommates that where born in Pakistan ? They are in charge of all those 'small' Internet campaign contributions for Obama. Where is that money coming from? The poor and middle class in this country? Or could it be from the Middle East? And the final bit of news. On September 7, 2008, The Washington Times posted a verbal slip that was made on 'This Week' with George Stephanapoulos. Obama on talking about his religion said, 'My Muslim faith'. When questioned, 'he made a mistake'. Some mistake!

All of theabove information I got on line. If you would like to check it - Wikipedia, encyclopedia, Barack Obama; Tony Rezko; Valerie Jarrett: Daily Times - Obama visited Pakistan in 1981; The Washington Times - September 7, 2008; The Times May 10, 2008. Now the BIG question - If I found ou t all this information on my own, Why haven't all of our 'intelligent' members of the press been reporting this? A phrase that keeps ringing in my ear - 'Beware of the enemy from within'!!!

And that's my opinion too,

 Don

What did we learn in the debate last night? For one thing we learned that John McCain is not an orator and Obama is. We learned that substance is not what we say but what we do. The American people have been fooled before by smooth orators many times; Jim Jones, Jim Baker, David Koresh, Marshall Applewhite and so many more. We are accustomed to hearing about these things and they seem to roll off peoples back. Some are so ready for change that they care less about a candidates background. I’m sure the people who followed any of these so called leaders felt the same way. Senator Obama may be just the ticket for our society but I’m not about to take his word for it, I want to see facts about his background before he becomes my president. I would like to see his thesis from collage to see what his thoughts were back then, I would like to get a real understanding of his relationship with the domestic terrorist Ayres, I think we need to know his real feeling toward Reverend Wright and what his relationship with ACORN has been. There have been so many radical people in his background that have not been yet revealed by the major media sources and I feel we should get to the bottom of his relationships before jumping in on his bandwagon.

Who is John McCain? He’ a terrible Orator we know that but what are his true values? He is a war hero, has been a Senator for many years. Is known as a maverick in his party and has jumped party lines many times in the past to get his agenda through. He has built inter party relationships with several democratic senators and has joint authored many bills that have crossed party lines. He has been vetted by every media representative in the country and some overseas.

I know I will get a lot of flak for comparing Obama to the above characters but we don’t know anything about him. He was a neighborhood organizer for the Daley machine in Chicago and that could be a problem for him. He has associated himself with people like Tony Rezzco who is now in prison. His longtime friendship with William Ayres. These thing have a enough poison in them that they require real answers. I only ask the diehard followers to examine the facts as they are presented. You are not just messing with your country it’s mine too and I really don’t look forward to a socialistic America and that is how I feel we are headed.

And that’s my opinion,
Don

With the world around us going crazy how should we respond? We could be panic stricken and sell off our future or work out the problems and survive this financial crisis.

How did all this happen?
Fannie Mae was created in 1938 as part of Franklin Delano Roosevelt's New Deal. The collapse of the national housing market in the wake of the Great Depression discouraged private lenders from investing in home loans. Fannie Mae was established in order to provide local banks with federal money to finance home mortgages in an attempt to raise levels of home ownership and the availability of affordable housing.

Initially, Fannie Mae operated like a national savings and loan, allowing local banks to charge low interest rates on mortgages for the benefit of the home buyer. This lead to the development of what is now known as the secondary mortgage market. Within the secondary mortgage market, companies such as Fannie Mae are able to borrow money from foreign investors at low interest rates because of the financial support that they receive from the U.S. Government. It is this ability to borrow at low rates that allows Fannie Mae to provide fixed interest rate mortgages with low down payments to home buyers. Fannie Mae makes a profit from the difference between the interest rates homeowners pay and foreign lenders charge.

For the first thirty years following its inception, Fannie Mae held a veritable monopoly over the secondary mortgage market. In 1968, due to fiscal pressures created by the Vietnam War, Lyndon B. Johnson privatized Fannie Mae in order to remove it from the national budget. He also put in place at that time additional programs as part of his Great Society Program.

New York Times - Clinton Adminstration Pressured Fannie Mae
September 30, 1999

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring. Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

The company was under additional pressure to go deeper into unqualified home loans during the 90’s by the politicians who wanted more minority lending. When the Bush administration asked for an investigation in 2003 to these practices they were blocked by Barney Frank and Christopher Dodd who claimed all was well in these companies and that an investigation would just hurt minority loan possibilities. Many of these politicians were getting financial aid from Fannie and Freddie including Obama and McCain. Obama receiving more than 120K and McCain over 20k. This is not a just a republican fiasco as we have been told, there is plenty to go around in both parties. It started when Johnson privatized these companies to fool the public as to his budget deficits and was magnified during the Clinton years by the push for minority housing and the elimination of mortgage redlining. This was all brought to a head when Speaker Pelosi used the opportunity of the congressional vote to place radical partisan politics into the congressional record blaming the Bush administration policies for all things negative. The Bush administration and Senator McCain had actually called for oversight in 2003 and were rejected by the Democratic House.

We will have plenty of time to place blame for this mess but first we have to get through it intact. Our goal should be to redevelop a financial basis in which to judge our future achievements. All previous goals and targets have been obliterated and should be discarded.

Just like this bailout, we are being railroaded into believing that Obama is the answer for change by the liberal press. We really need to spend some time studying his personal history and properly vetting his candidacy before rushing headlong into more problems. Our goal should be to place our trust in the person with the very best chance of making America stronger and safer both physically and monetarily. I would suggest everyone watch the David Asner program regarding the whole story behind the Freddie and Fannie collapse. Hopefully Fox will re air it soon.

To those who are for Obama, I am not asking you to change your vote, I am asking you to open your minds to the fact that he could possibly be a totally different person than you believe him to be. It doesn’t hurt to be sure does it? Wouldn’t you rather be safe than sorry, this is the only country we have.

And that’s my opinion,
Don

When all is said and done we will have chosen a new President who will be expected to guide us through the next four years. This person has to be very careful as we are in such a vulnerable stage in our country. We have a financial crisis on one hand and an on going war against terrorism on the other. We have just had our House vote a 700 Billion dollar bailout supposedly for the banking industry to keep this crisis from effecting us poor folk on Main street. From what I can tell there seems to be some added pork to this program. We cannot gut the military to survive this economic slow down. That would put us at risk every day for a terrorist attack. So where is it going to come from? The easiest way I know is to build the economy and get industry rolling again. Here are a couple of ways to do just that.

The thing no one is really focused on in this blame game called campaigning is real heath care solutions. Obama seems like he wants to promise everything to everybody and we all know that socializing medicine is not going to work, McCain hasn't focused on the problem yet so what needs to be done? As a business man employing over 20 people I can tell you the cost for medical coverage is totally out of hand. The way it works now is that 2 or 3 people have medical conditions that drive up the cost for all employees. Should I lay off those with conditions? I think not, these people have been with us through thick and thin and they would be unable to obtain insurance on their own. I believe that if the government is going to subsidize health care one way it could be done is through employer medical plans. I have had to change our policies as a company to avoid layoffs. Once upon a time we were able to pay 100% of the employees health care policy and 60% of the family. We are now only able to afford 70% of the employee and 40% of the family. This has created hardships for several of our people as well as the company this year because costs have skyrocketed. We have had a few drop from the program and I am sure are going without. If you want the government to create a medical assistance program do it by offering a special subsidized package through Medi-care for those hard to insure employees. This will allow much lower rates for the rest of the crew. It would also be a huge benefit if we could put a cap on medical damage awards that drive up Doctors malpractice insurance. Fat chance for that with the world being run by lawyers but worth a try.

Economic help for existing small business; Instead of putting all the 700 billion into the hands of wall street and a few pork driven projects maybe we could save a few small business’ by loosening up the SBA and funding a program for quick financing up to $500,000 for small business. I have heard just this last week of many companies who have survived for years closing their doors for lack of financing. Downturns like this one really have a terrible affect on small companies. Business drops off and the overhead goes on. Usually they try to hang onto their employees too long and pay the consequences. These would be good risk loans compared to some that the government is planning to bail out. This would also create a surge in business by maintaining employment strength in an area. Car Dealers all over the country are failing because of this lack of consumer credit availability. You may think it doesn’t matter if a car dealer fails but what about the hundreds of families that it affects and the related business' that suffer? What happens when you go to buy your next vehicle and there is no competition for the surviving dealer, whoops there goes the price.

I wish we could get this election over with and start our recovery. The problem is the election won’t stop partisan politics it never has and nothing good will come without both sides working together. Term limits is sounding better and better.

And that’s my opinion,
Don

Whoa, hold on there partners, you’re in such a rush that you just may have made a huge mistake. Under estimating the anger of Americans is not that wise. Ask Hirohito. Our goal here in this country has always been to work hard and develop wealth by saving and investing in our future. You may have just given away our future to a bunch of crooks on Wall Street and panderers on the hill. We out west don’t really cotton to this so called bailout of the rich and arrogant. I see nothing that will free up main street in all this, no easing of car loans or any other consumer advantages. Assuming that by re liquefying the rich guys and in turn the shallow politicians who have helped rape these financial institutions all will be well is like the terrorists blowing up the World Trade Center and assuming we won’t retaliate. This little fiasco better work and work great or you can kiss your cushy jobs goodbye. For the Democrats to try to blame this all on deregulation is about as sane as Clinton saying he didn’t have sex with that woman. McCain called for an investigation 2 years ago and Barney Frank and Senator Dodd blocked it saying that it was well and under their control. When the administration attempted to warn of the volatility of Fannie and Freddie they blocked that also.

The Republicans are not totally clean in this as well. They have had their collective hands in this cookie jar too. Not as deeply as Senator Dodd, Obama and Congressman Frank but in there just the same. I wondered what it would take to get some type of non partisan activity on the hill and now I know, just cut off their money source.

For Barak Obama to say his hands are clean is just as ridiculous. He hired the two main perpetrators of the demise of Fannie and Freddie to be his financial advisors, that is until they got too hot to deal with then just like he did with Reverend Wright he divested himself from them. Obama is the number two recipient of these monies from Fannie and Freddie. I guess some of you just believe that he didn’t have sex with that woman therefore you can assume Obama didn’t have his hand in the jar either.

This is going to be a rocky road for the next few months as we the people you borrowed from (using your language not mine) wait to see the results of your action. If all of a sudden as I anticipate it will, the market keeps dropping and the dollar shows a continued weakness and you are forced to come back for more, I can tell you all heii will break loose. In all honesty, I sincerely hope you are right and all gets back to normal as I only want what’s best for this great country.

And that’s my opinion,
Don

Where did our financial woes begin?
Clearly understand where the problem originated and who they work for now.

Interesting info . . . Here is a quick look into 3 former Fannie Mae Executives who have played big on Wall Street.

Franklin Raines was a Chairman and Chief Executive Officer at Fannie. Mr. Raines was forced to retire from his position with Fannie Mae when auditing discovered severe irregulaties in Fannie Mae's accounting activities. At the time of his departure The Wall Street Journal noted, "Raines, who long defended the company's accounting despite mounting evidence that it wasn't proper, issued a statement late Tuesday conceding that "mistakes were made" and saying he would assume responsibility as he had earlier promised. News reports indicate the company was under growing pressure from regulators to shake up its management in the wake of findings that the company's books ran afoul of generally accepted accounting principles for four years." Fannie Mae had to reduce its surplus by $9 billion.

Raines left with a "golden parachute valued at $240 Million in benefits. The Government filed suit against Raines when the depth of the accounting scandal became clear. http://housingdoom.com/2006/12/18/fannie-charges/ The Government noted, "The 101 charges reveal how the individuals improperly manipulated earnings to maximize their bonuses, while knowingly neglecting accounting systems and internal controls, misapplying over twenty accounting principles and misleading the regulator and the public. The Notice explains how they submitted six years of misleading and inaccurate accounting statements and inaccurate capital reports that enabled them to grow Fannie Mae in an unsafe and unsound manner." These charges were made in 2006. The Court ordered Raines to return $50 Million Dollars he received in bonuses based on the miss-stated Fannie Mae profits.

Tim Howard - Was the Chief Financial Officer of Fannie Mae. Howard "was strong internal proponent of using accounting strategies that would ensure a "stable pattern of earnings" at Fannie. In everyday English - he was cooking the books. The Government Investigation determined that, "Chief Financial Officer, Tim Howard, failed to provide adequate oversight to key control and reporting functions within Fannie Mae,"

On June 16, 2006, Rep. Richard Baker, R-La., asked the Justice Department to investigate his allegations that two former Fannie Mae executives lied to Congress in October 2004 when they denied manipulating the mortgage-finance giant's income statement to achieve management pay bonuses. Investigations by federal regulators and the company's board of directors since concluded that management did manipula te 1998 earnings to trigger bonuses. Raines and Howard resigned under pressure in late 2004.

Howard's Golden Parachute was estimated at $20 Million!

Jim Johnson - A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. A look at the Office of Federal Housing Enterprise Oversight's May 2006 report on mismanagement and corruption inside Fannie Mae, and you'll see some interesting things about Johnson. Investigators found that Fannie Mae had hidden a substantial amount of Johnson's 1998 compensation from the public, reporting that it was between $6 million and $7 million when it fact it was $21 million." Johnson is currently under investigation for taking illegal loans from Countrywide while serving as CEO of Fannie Mae.

Johnson's Golden Parachute was estimated at $28 Million.

WHERE ARE THEY NOW?

FRANKLIN RAINES? Raines works for the Obama Campaign as Chief Economic Advisor

TIM HOWARD? Howard is also a Chief Economic Advisor to Obama

JIM JOHNSON? Johnson hired as a Senior Obama Finance Advisor and was selected to run Obama's Vice Presidential Search Committee

It seems when push comes to shove it’s the people that get shoved. Although we had little to do with the problems of the financial world it looks as if we are the ones who will pay in the long run. I have tried to justify this bailout in my mind and it just doesn’t add up. I thank both the 228 democrats and the republicans who have held out for a better deal, without their support we would be owing 700 Billion by now. The problem is we need to get the problem solved and solved sooner than later. IF Nancy Pelosi would get her head out of her derriere long enough to work with all parties instead of trying to lay a blame blanket on the republicans it might just come together. Everyone knows the seriousness of the situation and should be willing to work these details out in a package that we can at least swallow without choking.

This package should include the recovery of much of the monies paid out to the candidates as well as the former managers of Fannie and Freddie. Senator Dodd and Frank should be among those returning this money to the funds. I will be damned if the public should be responsible for their windfalls.

This package should not make anyone rich nor should it exclude the attempt to renegotiate any home loans that may be salvageable. Keeping families in their homes and out of foreclosure should be a major part of this scheme. A salary cap should be placed on any project that benefits from this program including the automakers windfall package. A complete history of this whole negotiation including names and statements of each participating politician should be made public immediately. We the people want to know who and why they voted as they did. No more backdoor meetings and secret agreements between politicians.

Banks should be placed on notice that it is imperative that they move quickly to re-establish a flow of money into the economy in the form of consumer loans. Auto loans and consumer product loans will help rebuild our sagging economy faster than any government programs. To be sure the money should not be placed in the hands of the Secretary of the Treasury for disbursement as he see’s fit. The bulk of the money should be put into a trust and trustee’s should be appointed from each party to decide the disbursement of funds. It’s time for the politicians in Washington to wash their hands and come clean. Do the job that we sent them there to do.

And that’s my opinion,
Don