It’s easy for some to say President Bush and his administration are responsible for the $700B Fanny Mae and Freddie Mac subprime bailout problem we’re facing.  It’s also easy to blame greedy banks, S&Ls, and Wall Street financial corporations…  Similarly, hindsight is 20:20 when it comes to the technical reasons we’re facing the largest mother of all financial bailouts in our nations history and that it was clearly caused by issuing subprime loans to hundreds of thousands of people for homes they could not afford to pay for had they been trying to acquire conventional loans at conventional interest rates like you and me... Fannie Mae and Freddie Mac were the two largest offenders but why?  Some of these folks earn so little in food stamps and welfare they can barely rent, but the rules set by the liberals in congress for Freddie and Fannie bent the prudent and time proven loan approval practices so they could.  Ask yourself why?  Was it a Marxist sponsored social experiment with lending policies to pander for votes turned very bad?  I think so!

When a ship is sinking, you must first stop the flooding to save the ship.  Once that’s been accomplished, you look for the cause…  not the symptoms.  Accordingly, a more responsible action is to look at the government policies that led us into this problem and who was responsible for generating those policies.  

So much for Mr. Nice Guy…  Now I’ll start calling a spade a spade!

Pinkie Pelosi’s Politburo has been running rampant through the US congress for almost two years and we are now starting to see the results of her tainted fruits.  For the last few days, Pinkie and her counterpart in the Senate. Dirty Harry, have had House and Senate Congressional Marxists showing their real Communist colors as a badge of true AUDACITY and TEMERITY.  

To be fair…  It didn’t start with Pinkie Pelosi, and I blame the republicans for not calling these communists for what they really are...  It actually started with the Clintonistas as early as 1995 with the help of Janet Reno and Pinkie along with Barney Frank and Chris Dodd who were in with them hook, line, and sinker.  (See where Janet Reno brags about fines against lending institutions in 1997 for using prudent loan approval guidelines that ran contrary to the Clintonista socialist lending programs: Multimedia File Viewing and Clickable Links are available for Registered Members only!!  You need to or )

Over the past few days, these Communists have crafted the largest, mother of all  bailout plans in this nations history calling it a “done deal” without ever involving the republicans in the House.  Then they had the AUDACITY and TEMERITY to infect it with earmarks for the Association of Community Organizations for Reform (ACORN) and blame Senator McCain for blowing their “deal” that was really a "No Deal" long before the White House meeting started.  When it did start, it wasn't McCain that blew the deal, but rather their own chosen one…  the self-anointed abamanoid that walked into the White House reading notes from the “liberal Spin Room” and proceeded to lecture everyone in professorial nuances…  No wonder Dirty Harry and Pinkie Pelosi walked out with a severe case of anal leakage…

By the way, ACORN is also better known as the “Association of Corrupted Organizations for Registration of Non-eligible voters” with convictions for voter registration fraud going back over 10 years and with incitements in 12 states this year alone.

Remember also that two of the people responsible for the oversight of Freddie and Fannie collapse are Congressman Barney Frank, (D-MA), Chairman, House Financial Services Committee and Senator Chris Dodd, (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee.  You might ask WTF Over...  What were they doing with respect to their "Oversight" responsibilities?  I'm all ears...

Dodd’s counter-proposal to the Paulson Plan (Sec. 5. “Rights; management; sale of troubled assets” of the present plan (see Multimedia File Viewing and Clickable Links are available for Registered Members only!!  You need to or ) promised a minimum 20% of the ‘profits’ from the Treasury’s sale of bad Fannie and Freddie home mortgage assets to The Housing Trust Fund and the Capital Magnet Fund.”

People…  That means 20% or up to a potential $140 billion dollars of any profits would have gone to ACORN, as the Housing Trust Fund and the Capital Magnet Fund are fronts that were set up by the Communists to fund ACORN.  YGBSM!!!  

Fortunately, House Republicans shamed Pinkie Pelosi’s Politburo into pulling this smelly little turd of theirs out of the bailout punchbowl sometime Sunday morning.

Responsibility, Accountability, Oversight, and Culpability are four words that never apply to the liberal and Marxist Democrats like Congressman Barney Frank, (D-MA), Chairman, House Financial Services Committee, or Senator Chris Dodd, (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, yet these two walk the halls of Congress demanding transparency and oversight over a very bad situation and flawed bailout plan that they were responsible for creating and preventing as leaders of their respective House and Senate committees.

If you think I’m blowing smoke, just Google Barney Frank’s “110th_Final_Oversight_Plan” and Chris Dodd’s actions to block a bill co-sponsored by Senator McCain, the S. 190 [109th]: Federal Housing Enterprise Regulatory Reform Act of 2005 that was introduced in January 2005 to regulate Fannie and Freddie…   Unfortunately, this bill died in the Committee on Banking, Housing, and Urban Affairs… the Chairman of that Committee is Chris Dodd, the recipient of the largest donations from Freddie Mac and Fannie Mae.  BTW…  The chosen one, the obamanoid himself, was number two on the list of democrats receiving donations from Freddie and Fannie behind Dodd…  In any rational business environment, that would be a conflict of interest…  The obamnoid himself thinks so much of the CEOs of Fannie Mae and Freddie Mac, he appointed Brown and Rains, both former CEOs of Fannie Mae to be his financial advisors on his election team…

Having Franklin Raines as a financial advisor is like having the captain of the Titanic as an advisor on shipping. Raines walked from the doomed mortgage giant with a cool 50 Mil. It is alleged that Fannie Mae CEO's cooked the books for years to show a fake profit which would boost his yearly bonuses. Will we see a senate investigation? Don't make me laugh. The chairman of the senate banking committee democrat Chris Dodd is the “numero uno” recipient of Fannie Mae political contributions. The second highest recipient was ...guess who...first term senator Obama.  Oh yeah, another one of Obama's top advisors, Jim Johnson is also a former CEO of Fannie Mae who walked off with about 35 Mil.  And the Communists want oversight…  Right!

You don’t have to believe what I’m trying to say…  all you need to do is go to Wikipedia and read about the Communist Manifesto for yourself…

“The Communist Manifesto was first published on February 21, 1848, and is one of the world's most influential political manuscripts. Commissioned by the Communist League and written by communist theorists Karl Marx and Friedrich Engels, it laid out the League's purposes and program. The Manifesto suggested a course of action for a proletarian (working class) revolution to overthrow the bourgeois social order and to eventually bring about a classless and stateless society, and the abolition of private property.”

Sound familiar?  Big government ends up owning private property and there are no boarders between Mexico and Canada…  Do you see where Pinky Pelosi and her politburo are trying to take us?

All I can say at this point is…  Think… Read…  Then think again before you vote…  

Fortunately for us, the fat lady has yet to sing on this smelly set of messed depends offered up by the Marxists as a bailout plan…  The rational logic of the conservatives in the House has a very real chance of making substantial changes that will protect the voters and truly stimulate the economy despite what Pinky Pelosi, her Politburo, or Dirty Harry and is minions have gushed to the press in their CYA statements on CNN on the mother of all bailout plans…   The vote comes Monday…  at best…  I’m not holding my breath.

Thanks for the time...  For what it's worth, I came to CH.com for help and got it...  Now I'm trying to help fellow cluster headache sufferers with a method of oxygen therapy I developed that really works...  Having said that, I feel very strongly that the present political situation will cause a pain that will be far greater than cluster headaches unless we really understand the situation and vote accordingly.

Take care,

V/R, Batch

Hey Tony, good video but it gave Carter too much credit…  he didn’t have too much influence on the financial industry, and was only able to deregulate commercial aviation in the Airline Deregulation Act of 1978…  I’m not sure what that did for us…  I don’t see Pan Am, TWA, Western, or Eastern Airlines, anymore but what the heck… that’s the airline industry…  He did help make abortion legal…

Barb, you’re exactly right…  Lots of politicians in both parties with dirt on their hands and ill-gotten gains in their pockets…  Too many of them still in office and the most common offense is usually associated with shaky land deals.  

The point I was trying to make dealt with an overt use of congressional powers by the far left to push their socialist and in some cases Marxist agendas.  These folks are easy to spot…  They want bigger government, higher taxes to support their agenda of more social entitlements, open boarders (read no fence), they also want to give illegal aliens social security, in-state tuition, and a host of other benefits including the right to vote (ACORN), all paid for by the real taxpayers.

They have a profound lack of morals and no sense of right and wrong or fairness as long as their actions further their socialist and Marxist agendas.  They not only fail to take action on the misdoings of their own and all too frequently the party faithful and a loving media totally in the tank for anything they do that leads to bringing them to power and keeping them there actually laud the culprits.

What I find most amazing is they insult us with their lies then expect us to accept those lies with no questions asked.  They’ll fart in church (if they ever go) then immediately point across the isle and start complaining.  Clinton plays button-button and kiss the bishop in the oval office with an intern then points his finger at us on TV and says it isn’t so… Jeffords (D-LA) runs a payoff scam then hides the $90,000 in his freezer…  I guess he doesn’t trust banks… Don’t get me wrong…  there’s been wrongdoing on the other side of the isle as well…  you just don’t see them around anymore as republicans and conservatives are quick to remove the guilty from positions of congressional power.

Getting back to the issue de Jour...  This morning we see Barney Frank and Chris Dodd strutting around Congress in lock step with Pinky Pelosi and Dirty Harry like they had no hand in the problem and everything to do with the solution.  These two need to step down from their respective chairmanships and if they don’t, even the liberals need to call for an independent investigation if such a thing exists.   The SEC has already opened an investigation of Freddie Mac and Fannie Mae.

So where are we this morning…  Let’s see…  WAMU went tits up on Friday and Wachovia’s banking services were bought out by Citigroup yesterday…  The only bright spot is crude oil dropped another $6 this morning…  and that may not be a good thing as the DOW was down 300 points in less than 30 minutes after the opening bell.  As Senator McCain said during the debate, this is just the end of the beginning…

Meanwhile, Pinky Pelosi and her politburo have all the votes they need to pass the bailout plan without the help of any House republicans, yet Pinky will not call for a vote and she’s even given her “Blue Dog” democrats up for reelection a hall pass to be off the House floor if it ever does come to a vote.  

Why she won’t call for a vote is simple.  This is a far bigger crisis and more expensive in terms of political capital than going into Iraq and taking down Hussein.  The fact that this bailout plan could fail to achieve the desired short-term effect of preventing a financial meltdown has given Pinky a severe case anal leakage because she knows the wrath of the voters will fall on her and her politburo unless she has House republicans voting in favor of the bailout to share in the blame.

With no real details of the actual plan available, and lots of opposition, I suspect there’s a good chance there will not be a House vote today…  I'm still more interested in the fixes that will prevent these kinds of home loan lending abuses and a real market stimulus like House conservatives going in on the bailout plan under the condition that the Mark to Market rules put in place after the Enron failure be removed, the Bush tax cuts be made permanent and Congress eliminate the capital gains tax for a year or two.  That's playing hardball.

V/R, Batch

The House failed to pass bailout plan and Pinkie Pelosi is now having explosive anal leakage...  She's out blaming the republicans on the failed bailout vote, yet she couldn't even swing enough members of her own politburo caucus with a majority of seats in the House...  She only got 2/3 of the politburo caucus to vote in favor of the bailout plan…  and 94 Democrats voted against it...   The food fight is on…

Yes, the market was down over the vote, but it really took a dive when Pinkie Pelosi got up to speak after the vote failed.  Now the market is just telling Congress and in particular Pelosi and Reid to get stuffed.   It didn’t like a communist bailout plan any better than a majority of the House including a whole lot of Blue Dog liberals…  Now that all the liberal weasels including Barney Frank have given their pressers licking their wounds and each other in a show of solidarity…  but still pointedly blaming the Republican members of the House for the failed vote, the market is really pissed and was down 690 with 30 minutes to go in the session.  Now that they've ended the presser, the market's easing back up to being down only 590 and that only proves Pinky and her politburo should shut up and go back to work.

Now what we need is a real stimulus package and free market approach that makes the Bush tax cuts permanent, eliminates the capital gains tax, and replaces the current loan approval rules that got us into this trouble with the time tested old rules.  Watch the market when a package like this is voted into law…

I’ve been listening to statements by House minority members that indicate Pinkie Pelosi’s blatant partisan speech before the vote blaming Bush and Republican policies for the present predicament is was what actually turned the tide against the bailout plan from enough votes to pass to going down in defeat.

Katie bar the door…  This is going to be a wild ride

Take care…  the House is still in session.

V/R, Batch

777.68