[Rhodes22-list] Brad's comments on Finance - Economics - Fear - Politics - Truth - Personal Attacks without foundation

[Brad Haslett]

Wally,

You thought it was bad, it just got worse!

http://www.telegraph.co.uk/news/newstopics/howaboutthat/3077911/Hugh-Hefner-to-sack-Playboy-bunnies-amid-financial-crisis.html

Brad

On Sun, Sep 28, 2008 at 12:48 PM, TN Rhodey <tnrhodey at gmail.com> wrote:
> I should say the cause is not right or left....we need to pull together for
> a solution.
>
> On Sun, Sep 28, 2008 at 1:46 PM, TN Rhodey <tnrhodey at gmail.com> wrote:
>
>>
>> Comrade Ed - ....Don't worry the government is here to help.   This train
>> wreck has been coming for a long time and both sides had  chances to
>> solve.. Wall street caused this, not the rights or the left.  Fannie/Freddie
>> are dominating the news but they really weren't the main problem. They did
>> not create subprime mortgages, Option Arms, Negative AM loans, ABS, credit
>> default swaps, CDOs, mortgage trading desks and so on.. Wall Street came up
>> with this crap to make a buck.  Having a Federal Reserve that bows to Wall
>> Street really fueled this along with simple greed. Very little of this is
>> fraud. and despite what slanted media claims it is not a right or left
>> issue.
>>
>> So it sounds like you are for this socialist bail out........you trust the
>> gov to fix finance but not health care? Please tell us you will no longer
>> call anyone who disagrees with you a socialist/commie/fascist????
>>
>>
>> Wally
>>
>>
>> On Sun, Sep 28, 2008 at 8:52 AM, Tootle <ekroposki at charter.net> wrote:
>>
>>>
>>>
>>> Brad:
>>>
>>> It is amazing to sit back and observe.  There are those who accuse you of
>>> personal attacks and opinions about the National Democratic Party
>>> Leadership
>>> and their candidate Obama.  Yet you have provided much documentation to
>>> support your view, positions, suppositions, etc.
>>>
>>> You get attacked by one list member who offers support for his positions
>>> that at best are conjecture.
>>>
>>> The Bail out Bill has a big gift for ACORN.  Yes it does, in the last
>>> versions acknowledged at 8 AM on Sunday morning.  Why should ACORN be
>>> specified in this proposal by the National Democratic Leadership?
>>>
>>> The reasons are easy to see, to cover their asses and gain political
>>> domination, to create their new order with them as dictators.
>>>
>>> The National Democratic Leadership has enough votes to pass their version
>>> without any Republicans.  It seems they want enough votes to override any
>>> potential veto to a bad bill for America.
>>>
>>> It looks like no bill will pass today.  As the economy falls, watch the
>>> news
>>> media blame Bush.  Yet, it is easy to see that the National Democratic
>>> Leadership is very involved in the problems.  It seems to this observer
>>> that
>>> the fifth column is succeeding.
>>>
>>> According to Stan's recommended reading, the bubble is bursting.  I am
>>> overwhelmed by his lack of concern for the results.  I am overwhelmed by
>>> his
>>> failure to call for justice by those intent on destroying America.  I am
>>> overwhelmed by this forums failure to support complete justice and
>>> integrity.
>>>
>>> It is obvious that Nancy Pelosi, Harry Reid, Chuck Schumer, Barney Frank
>>> are
>>> incompetent, evil or successors to the Ben C.'s old time Communists fifth
>>> column.
>>>
>>> I think I need to go out and buy some old fashion amunition so I am
>>> prepared
>>> for tomorrow.
>>>
>>> Ed K
>>> Greenville, SC, USA
>>>
>>>
>>>
>>>
>>>
>>>
>>>
>>> Brad Haslett-2 wrote:
>>> >
>>> > The short version of a long story is, I've been stuck in a hotel on
>>> > reserve in my own city all day and paying close attention to the
>>> > negotiations in DC. Everyone knows I'm a partisan, but what been going
>>> > on the last few days with Pelosi, Reid, and company is disgusting and
>>> > despicable.  We need a bill and we need it before the Asian markets
>>> > open tomorrow night (our time).  They've been trying to load this bill
>>> > up with pork and special favors, the most disturbing pork being marked
>>> > for ACORN.  There's a lot of media spin being put out and a lot of
>>> > high stakes power politics being played. These people have no idea how
>>> > serious this game of "chicken" is and what the probable outcome will
>>> > likely be.  Here's some observation and some links with a brief
>>> > description of some of shenanigans at the end.
>>> >
>>> > Brad
>>> >
>>> > ------------------------------------
>>> >
>>> >
>>> http://www.bloomberg.com/apps/news?pid=20601087&sid=aCpGk.NPYZ3g&refer=home
>>> >
>>> >
>>> http://www.bloomberg.com/apps/news?pid=20601087&sid=aCpGk.NPYZ3g&refer=home
>>> >
>>> >
>>> http://www.weeklystandard.com/Content/Public/Articles/000/000/015/636zbhel.asp
>>> >
>>> > http://www.politico.com/news/stories/0908/14018.html
>>> >
>>> >
>>> http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3094318/Bailout-failure-will-cause-US-crash.html
>>> >
>>> >
>>> > -from Gateway Pundit-
>>> >
>>> > On Friday, the US government stepped in and sold Washington Mutual
>>> > after customers withdrew $16.7 billion from accounts since Sept. 16th
>>> > leaving the Seattle-based bank "unsound."
>>> >
>>> > It was later announced that Washington Mutual Inc. bondholders were
>>> > likely to lose most of their money. This was a HUGE mistake by the
>>> > government and must be corrected quickly or it could have major
>>> > consequences.
>>> >
>>> > This report was sent to me from a an international auditor in the
>>> > insurance industry and close friend who understands the seriousness of
>>> > the situation.He describes the situation in layman's terms.It ain't
>>> > pretty:
>>> >
>>> >     The financial crisis is real. Most people don't realize it yet,
>>> > but banks, investment managers and corporate treasurers around the
>>> > world all know what is going on. It started with the Freddie – Fannie
>>> > collapse. They wrote loans to individuals who they shouldn't have.
>>> > Government policies encouraged loans to minorities and the
>>> > underwriting function of banks was no longer approving loans upon an
>>> > individual's creditworthiness but their race was now a factor in the
>>> > loan decision. When individuals are given loans based on race and not
>>> > their ability to pay, it is inevitable that bad loans would be written
>>> > and foreclosures would come. That's what happened and in a big way.
>>> >
>>> >     This caused ripple effects throughout the financial services
>>> > industry. Firms who consolidated loan packages or guaranteed their
>>> > creditworthiness were caught in the middle. Bear Sterns, Lehman
>>> > Brothers and others went under. The largest insurance company in the
>>> > US by some measurements was one of the casualties (AIG). With
>>> > insurance companies around the globe, AIG is hoping to have some
>>> > business left when all is over. The government stepped in to rescue
>>> > this giant by providing capital for the firm while it liquidates
>>> > portions of its business to pay off the investment derivatives which
>>> > caused it trouble and then pay off the government loan. The
>>> > investments became bad when the mortgages went south.
>>> >
>>> >     The ripple affect continues. Putnam funds, the largest money
>>> > market fund in the US and rated AAA, had to close its doors since
>>> > money managers began to realize that Putnam's assets were not
>>> > guaranteed by the Federal Government (unlike cash in banks and savings
>>> > and loans) and began to ask for their money. Putnam had to sell
>>> > securities in order to meet the demand. Although they have begun to
>>> > pay their account holders, their reputation and money market accounts
>>> > in general have been severely damaged.
>>> >
>>> >     Corporations and institutions are scared of losing their money or
>>> > having it locked up so there is a rush for money. This is global as
>>> > long lines were reported outside AIG offices in various Asian offices.
>>> > The Taiwan government came in to help AIG in Taiwan. There are other
>>> > cases like this worldwide. Rumors are that some banks in Europe may be
>>> > at risk.
>>> >
>>> >     The largest bank to ever be taken over by the government was next.
>>> > And this is the scary part. Washington Mutual was taken over by the
>>> > government on Thursday. They were not able to handle the surge for
>>> > cash requests and became insolvent. The government however has made a
>>> > big – HUGE – mistake.
>>> >
>>> >     In taking over Wash Mu, the government told Wash Mu bondholders
>>> > that they would not be paid. This precedent when recognized by the
>>> > investors around the world will cause massive pandemonium if the
>>> > government doesn't do something quick. You see the bondholders are
>>> > people and institutions who buy bonds for stable and guaranteed
>>> > returns with a payoff based on the bond type. Banks and many
>>> > corporations raise capital or get money by issuing bonds. If
>>> > bondholders realize that their bonds with banks will not be paid off
>>> > if the bank goes under, then the bond will become very risky
>>> > especially during these times, if not worthless. This will cause banks
>>> > the inability to raise capital to pay off the depositors they have on
>>> > the books. Depositors will become scared and more 'runs on the bank'
>>> > will occur in all financial service industries.
>>> >
>>> >     The President has made a proposal for the government to step in.
>>> > They must do so quickly. There is no time to waste. Fear is a great
>>> > motive and causes people to do crazy things. Already treasurers of
>>> > companies are divesting their assets from risky investments and moving
>>> > it to more safe places. This is causing illiquidity in the market and
>>> > will continue if not addressed. Congress cannot continue to filibuster
>>> > and lollygag. The world economy is at stake. The root problems of a
>>> > government policy encouraging bad loans, corporate and government
>>> > greed (some Fannie Mae executives made off with millions), and a
>>> > Congress that wishes to put pork on this bill to save our economy must
>>> > be addressed and now.
>>> >
>>> > More... There are already reports that the stock market could suffer a
>>> > devastating crash with shares losing a third of their value this week
>>> > if a concensus is not reached in Congress this weekend.
>>> >
>>> > With tensions high and Speaker Pelosi calling GOP members unpatriotic
>>> > for missing meetings they were not invited to, it may be impossible
>>> > for this to happen.
>>> > Let's pray for a miracle.
>>> >
>>> > -----------------------
>>> >
>>> > Despicable Nancy Pelosi calls GOP Unpatriotic for missing a meeting--
>>> > A meeting they were not invited to.
>>> >
>>> > Here's some behind the scenes politicking by Democrats at the
>>> > Congressional bailout talks today, via the House GOP:
>>> >
>>> >     I Just wanted to shoot this story regarding the ongoing
>>> > negotiations your way before you hear the media spin the Dems are
>>> > feeding them. Republicans were told today's negotiations were for
>>> > "principles." Meaning each party's lead negotiators – Senators Chris
>>> > Dodd and Judd Gregg and Reps. Blunt and Frank. When we showed up to
>>> > the meeting the list of Dems walking in the door kept growing to
>>> > include all the above along with Democrats:
>>> >
>>> >     Rahm Emanuel (arguable the most political member of the House)
>>> >     Charles Rangel (currently under an ethics investigation)
>>> >     Senator Max Baucus
>>> >     Senator Chuck Schumer (again, one of the most polarizing Members
>>> > of Congress)
>>> >     Senator Kent Conrad
>>> >     Senator Jack Reed
>>> >
>>> >     That's hardly the deal we were promised, like Mr. Blunt quipped to
>>> > reporters, "I think the ratio's about fair. It's two to eight or
>>> > something."
>>> >
>>> >     And, the Dem spin machine is still in full swing. They said we
>>> > boycotted earlier meetings, well, as Chris Dodd said last night on
>>> > NBC, they just forgot to call us. So, maybe an 8-2 fight is the best
>>> > we've had all week because we are at least at the table.
>>> >
>>> > __________________________________________________
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>>> > __________________________________________________
>>> >
>>> >
>>>
>>> --
>>> View this message in context:
>>> http://www.nabble.com/Finance---Economics---Fear---Politics-tp19708715p19711338.html
>>> Sent from the Rhodes 22 mailing list archive at Nabble.com.
>>>
>>>
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>>
>>
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