What has not been reported is that the Bush administration turned these acts of reckless lending into a national program of mortgage fraud. Soon after George W. Bush became president in 2001, meetings at the White House between Federal Reserve Chairman Alan Greenspan and administration officials became more frequent. According to mortgage industry
Sphere: Related ContentOnce again the out-of-touch Senate has signaled the American people that they are firmly owned by the corporate insiders. This bow to their handlers is clear indication that there needs to be a great eviction day in November. First the stock market controllers slap the little man by devaluing stocks of companies that are sound and should have held their value. Next the House, feeling the pressure from constituents and facing reelection in a few weeks, tries to sell spoiled goods but just can’t. Now we have an arrogant Senate that has not only passed a knee-jerk piece of bad legislation but has added hundreds of pages of perks, smoke, and mirrors and another billion dollars. It’s interesting to see the dire - no choice - must act now - rhetoric being shot-gunned out by talking heads and politicians. The bottom line is that certainly this issue will be painful, certainly some people will lose their jobs, certainly some companies will close but the economy will not simply stop. If allowed to correct itself, the outcome will be a more stable economy. If this bailout goes through, it’s the camel’s nose in the tent. There will be no end, the asset value will not be realized by the people as the politicians are saying, and the cost will continue to escalate. Take the hit now or take it for a long time through inflation and continued devaluation of the dollar. The biggest question is why must it be done today? The answer is so that a bad plan can be forced down the throats of the taxpayers before they realize it. Yes, legislation needs to be passed to correct this situation but it should be well thought out and minimal. Every new piece of legislation has unintended consequences. We must proceed with caution and we must not reward those who have brought this about. …seems that many of those individuals are the same one negotiating this fiasco…
Sphere: Related ContentTwo days after the House rejected the $700 billion bailout bill, the Senate is set to vote on the rescue plan for financial institutions.
Sphere: Related ContentIt’s like a bad horror flick. The hero (in this case individuals pressuring congress) kills the evil monster (the bailout). Just as the victim and the hero embrace to celebrate their victory, the evil monster comes back to life - menacing them once again. The Senate is currently trying to bring the evil monster back to life with legislation from their side. It will take another heroic effort of calling, writing, faxing, and emailing to convince the politicians and the insiders that we are not quite so gullible as to buy into this insider bailout as being for the little guy.
Amanda Ripley does a good job of outlining the next strategy we can expect from the well-bought politicians. Although Ms. Ripley is obviously in favor of the bail out she does provide a little insight into the next wave of propaganda for the bailout.
Sphere: Related ContentThe first attempt at socializing the financial markets has been defeated. Public opposition is running in excess of 50:1 against the bailout. Keynesian and Friedmanian economists espouse a bailout as being the only option while Austrian school economists point to the failed monetary policies of both those schools of thought that have resulted in the very situation they claim will be fixed by more of the same. We are dangerously close to fulfilling the Utopian ramblings of Karl Marx in his desire for the centralization of credit in the banks of the state.
Jeff White posts an excellent analysis of the Marxist bailout scam that almost happened yesterday.
Sphere: Related Content…we need to evict the following who voted “Aye” (see bolded names) to the Massive Bailout for Wall Street.
North Carolina
Nay NC-1 Butterfield, George [D]
Aye NC-2 Etheridge, Bob [D]
Nay NC-3 Jones, Walter [R]
Aye NC-4 Price, David [D]
Nay NC-5 Foxx, Virginia [R]
Nay NC-6 Coble, Howard [R]
Nay NC-7 McIntyre, Mike [D]
Nay NC-8 Hayes, Robin [R]
Nay NC-9 Myrick, Sue [R]
Nay NC-10 Mchenry, Patrick [R]
Nay NC-11 Shuler, Heath [D]
Aye NC-12 Watt, Melvin [D]
Aye NC-13 Miller, R. [D]
Rocky Mount Electricities Utilities Online Petition
Text of Petition:
The Rocky Mount Utilities are outrageous and need to be lowered. We do not have a choice to get our power from Progress Energy, so we have to buy our electric from the City of Rocky Mount. I enjoy living in the city, but the electric and gas rates are too high. We the citizens of Rocky Mount want our gas and electric rates lowered and want them to be comparative to Progress Energy. Many residents electric bills are almost more than their mortgage payment each month. (Mine is one of them) If there is a law for Price Gouging, then this matter should be addressed and investigated as such. The City of Rocky Mount has to buy their electricity from NCEMPA (American Public Power Association, American Public Gas Association and Electricities). I feel if we had a choice, the citizens of Rocky Mount would choose a different provider for our utilities. Now they are talking about another price increase in 2009 after we already had one in 2008. Please reply to this petition. If I can get 1000 people to respond, I will go to the next step, but I am young, energetic, and motivated, so I am willing to try to get our voices heard. I need everyone to help get our voice heard. Please sign this petition. Comment your feelings. Tell everyone you know that cares about our town’s wellness to sign the petition as well.
Here are some very interesting Numbers from one of the recent blogs on the Telegram Page:
Progress Energy,
Nashville electric prices are; 9.67c July-Oct Kwh
8.67c Nov- June Kwh (A decrease)
Rocky Mount- 12.91c Kwh. all year long.
If you need to know more about ElectriCities look at these sites.
http://www.rockymountnc.gov/utilities/faqs.html#8
and
http://www.electricities.com/index.htm
ElectriCities is a not-for-profit organization that is financed through membership fees and dues, as well as through rate and service revenue and tuition from training programs and workshops. Rocky Mounts annual due is $46,046. It is just interesting to look at this.
Sphere: Related ContentThe House on Monday defeated a $700 billion emergency “rescue” package, ignoring urgent pleas from President Bush and bipartisan congressional leaders to quickly bail out the staggering financial industry.
Sphere: Related ContentVirtually our entire financial system is based on an illusion. We spend more than we earn, we consume more than we produce, we borrow more than we save, and we cling to the fantasy that this can go on forever. The glue that holds this crumbling scheme together is a fiat currency created out of thin air known as the Federal Reserve Note.
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