Incompetence is not an excuse.
Follow the money.
October 18, 2008
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A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
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35 comments:
But women are the gentler sex? Nancy would never do bad.....
You forgot to add Godfather Greenspan.
Kieth,have you ever taken a look through
the UNITED STATES STATUTES at Large?
These dirtballs are not guilty.
Just dirtballs.
Until you understand that they have no obligation to you, you will not effect a remedy.
You may however Vote for Obamma,and remain irresponsible.Angelo Mozillo will
not be convicted either because he knows what is really going on.
You know, I am definitely feeling the pinch financially. I am a small business owner (since 1997)that has customers with net-30 and net-60 days to pay and they have been falling behind paying me more and more. A couple went bankrupt before I even knew they were in trouble.
For the first time ever I was late making my house payment and had to call my bank and acknowledge that I have a problem. I dreaded this phone call because it felt like it was beneath my dignity. I don't live beyond my means, I pay my taxes every year, and don't allow myself to get into these kind of situations. I also assumed that my lender, Wells Fargo, was going to be a S.O.B about it. And last but not least, I thought these programs like Loan Workout, etc. were shams and really wouldn't be helpful.
I was shocked when the customer service guy was helpful. I was honest and he was understanding.
We did the income to expenses retio and worked out a deal that I could make two late payments (w/pen & int) but without fear of being foreclosed on. That will give me time to work on refinancing and/or making sure my customers will be able to pay me on time as in the past. The refinance is the path I am sure I will ultimately choose but there were other options too that weren't so bad.
After this experience, I will not knock the programs rolled out by the Senate Banking Committee or any other organization that's tried to help. I sleep at night while I am working out of this mess. If I had been in this position a year ago things would not have worked out this way.
I'd replace Bernanke with Greenspan;
Henry Paulson with John Paulson; and
add GWB, Rove, DeLay, and
the feral-marketeers/banksters.
If found guilty, execute them for treason.
Coming soon - a full to left socialist congress with these people (Nancy and Barney) in leadership roles...
BWA HA HA HA!!
Qweefer seriously dude, you are funny. Not only will nothing happen to them, Nancy and Chris will get a super majority. Thanks to liberals like you, they will turn this once great nation into a communist cesspool along with your pal O'Bama.
come one Keith, they were just trying to help those you are not as fortunate. Everyone should be able to realize the american dream of owning a house!
Add Greenspan to that list too !!!!
Along with Phil Gram !
Hang 'em ALL !
The dumbing down of America has been a GREAT success.
Are you sheeple pissed off yet?
It's gonna get a lot worse before it gets any better.
snicker.
They forgot Greenscam. Who made that poster? I want to sign up with their organization.
You know what. Enough of the personal attacks on the lawmakers. They are nothing but puppets.
I challenge you to read about what the Office of the Comptroller of Currency. Note the date of this press release. These criminals did more to protect national banks fleecing individuals than the elected lawmakers did. Guess who pressures these jokers to act? The President and his appointees. When states were trying to protect their residents from the greedy banks the OCC stopped them by claiming the banks were under federal regulations. I say put these guys near the top of your hit list.
FOR IMMEDIATE RELEASE
September 4, 2001
Contact: Stacy Mitchell
612-379-3815 or smitchell@ilsr.org
Rogue Federal Agencies Gut State Banking Laws
New issue of The New Rules examines the sordid history of two obscure federal agencies and their efforts to dismantle state laws.
MINNEAPOLIS - "The only reason you're not afraid of the Office of the Comptroller of Currency and the Office of Thrift Supervision is because you don't know what they do," says Stacy Mitchell in a penetrating article in the new issue of The New Rules.
Few Americans have heard of the Office of the Comptroller of Currency (OCC), the chief regulator of national banks, or its sister agency, the Office of Thrift Supervision (OTS), which regulates S&Ls. Yet these two unelected agencies---both are part of the Treasury Department and are led by presidential appointees---have overturned dozens of state laws that protect consumers, ensure fair lending, and maintain competition.
Working hand-in-hand with the nation's biggest banks, the OCC preempted a "lifeline" bank account law in New Jersey, tipped the scales in favor of Citibank when it was sued by credit card customers for violating a California law, and went to court to help Wells Fargo and Bank of America overturn an ATM surcharge ban enacted by San Francisco voters.
"National banks now routinely request cover from the OCC when they encounter a state law they don't like," says Mitchell. "The agency invariably obliges and has given national banks a green light to ignore all kinds of consumer protections."
In 1994, Congress reprimanded the OCC for its "inappropriately aggressive" attacks on state law. The agency, however, ignored federal lawmakers and has actually accelerated its preemption actions in the years since.
The piece-by-piece dismantling of state authority by the OCC and OTS has left state officials virtually powerless to protect their constituents from new consumer abuses. Predatory lending, payday loans, excessive bank fees, and other problems are now spreading like viruses through a weakened immune system. Payday loans topped $10 billion last year. Predatory home loans, rare a decade ago, now snare millions of families annually and have led to a sharp rise in foreclosures.
My pairachute must be cleer
plastik, cuz I can't see it up there.
I'm falling kinda fast, but I'll just
trust my nice prezedent.
50 Trillion in retiree obligations;
40-60 Trillion in junky credit swaps.
Guess ignirantz dont pay the bils.
At least some folk got real real rich.
Guess that'll trikle down someday,
somewhere, somehow.
America is the land of importunity;
and elections r bought with patriotic money.
That is just the start of the list ... Bush, Cheney, WallStreet and Banker Execs. need to be on the list as well.
Truth be told, all of them are really, really scared ... so they do what they do best ... protect their own ass-sets.
anon 5:54pm
Couldn't agree more!
The dumbing down of Amerika is alive and well!
When the remainder of the tax-payer based work force starts waking up and realizing that the ordinary consumer is losing their job, house equity, retirement savings and access to credit, they'll start seeing that the whole notion of "recession proof" is really just a myth.
Our entire workforce needs to be restructured, and wages should be paid according to performance across all industries - it's the only way to build a really solid economy for the long term.
Meanwhile, I read recently how public service employees travel up to Mendocino County to go abalony diving. It's very costly, very exclusive, and something they do on an annual basis.
It's good to know where your tax-payer dollars are really going, especially during these lean times.
I imagine our entire economy may actually collapse before this nonsense stops.
When the state complains of budget shortgages, I have no sympathy, since they've been wasting money for far too long off the tax-payer's backs.
It's payback time, and believe me, it's going to get brutal.
Meanwhile, here in HB Ca., more of the residents are complaining about falling house prices and evaporating retirement savings.
Once the crisis became local here, people started admitting there's a big problem.
We haven't seen anything yet here though I'm afraid, and as a home owner I don't see much hope for housing here, it just became way overvalued and is now crashing at an ever accelerating rate - it's got a long, long way to plummet still.
And let's include Christopher Ricciardi, the young guy at Merrill Lynch who started the whole "super tranch" thing back in the mid 2000's. These were basically paper "products" that had too few assets (houses/mortages)to back them up and were sold all over the world. They are basically worthless. The problem is, it was unethical and morally wrong, and essentially fraud, but "it wasn't illegal". Love that.
There seems some left off the poster. greenscam and Reagan started what bush finished.
Todays fascist congress, hopefully will be replaced by a socialist congress. At least then, the people will get some representation too.
The rightwing scum with their deficits don't matter team bush mantra have put us in this scheitt sandwich, and they should pay to get us out.
Well, whataya know?? Can you ignorant goyim guess what four of those five all have in common??
Burn 'em, burn 'em!!!
Todays fascist congress, hopefully will be replaced by a socialist congress. At least then, the people will get some representation too.
-------------------------------
wrong sparky! socialist governments fleece the population just a badly, just look at what is happening in europe.
These scum have one thing in common, they are vile marranos from the slums of Krakow. The filthy offspring of soviet commissars.
We call them Ponzi schemes...
Future generations will say ...
"He pulled a Paulson"
nancy's husband is a stockbroker.....
How convenient
Keith,
I went to the mall to walk arount, didn't buy a thing.
I could not beleive the crowds...It was like a black Friday crowd of shoppers
Amazing.
Allan Greenspan needs to be first on your Most wanted. Keith you have to check out Anderson Coopers most wanted!!!
What about fucking Bush and Cheny???
But keith your hero obama will be working with all of these fine democrats if you and people like you elect him so I don't get it he is the same yet you will elect him. Do you really think there will be hearings to truly find out how this happened in an Obama, Pelosi, Reid, Dodd, Frank administration? Palin anyone!
"Incompetence is not an excuse."
They know exactly what they're doing.
What they aren't sure of, is if they'll get away with what they're doing.
Keith May I use this on T-shirt??? Where is Papa Bush and Doc Strangelove???
Perhaps you should do another version the poster and go with a Wild West theme...
WANTED...DEAD OR ALIVE!
RE: Domestic political enemies of America -- "Investigate them. Arrest them. Imprison them."
Americans have always believed that their enemies were foreigners who hated them because they were free.
Now, it turns out that it is American citizens, serving as elected officials of the people, who are the real enemies.
Once the dollar is destroyed, America will be no more.
V.L.
@ honica jewinski
The ignorant goyim (especially the schwatze), with the help of many an ignorant mensch will never realize that 4 of them are Democrats and that social engineering is the root of the problem because its much more important to appear tolerant than to be honest. Thanks to the ignorant socialist sheeple of Connecticut, San Francisco, and Boston; Dodd, Frank, and Pelosi are not and never will be in danger of losing their jobs.
It is not racist to not offer credit to those who are not worthy of credit. Its common sense.
The other half of the issue is the very existence of credit default swaps. These unregulated bogus insurance contracts allowed moral hazard to expand on a massive scale. Fannie Mae and Freddie Mac are at least responsible enough to get paid interest on risked capital but they are also responsible for the rampant moral hazard in mortgage finance. All three need to go away permanently.
Think benevolent leader Omama's gonna make that happen?
They should all be tried for nothing less than treason.
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