Franklin Roosevelt adopted the term during the '30's.This from reader, Bob:
"Mike,Get thee to your congressperson and let them know YOUR opinion tonight.
I wrote Harry Reid a very stern and strongly worded email this morning wherein I said not just "no," but "HELL NO!" Yes, the time to have drawn a line in the sand was several years ago, but if this doesn't bring people out into the streets, I can't imagine what will.
Check out what an anonymous Democratic congressman thinks about the situation. I hope to hell there are plenty more like him."
Tomorrow's Monday. Go here now:
https://forms.house.gov/wyr/welcome.shtml
and put your 2¢ in ...while they're still worth it.
4 comments:
Oh don't be so upset...we'll just print dollars till we can pile them up to the moon ;-) Ok, so Fannie and Freddie are effectively nationalized. Together they own a little less than 50% of all the U.S. mortgages and now Uncle Sam is going to buy the rest of the worst mortgages on the market. When this is done the U.S. government will have nationalized more than half of the country's mortgages. AMAZING! What a great business plan...Every American should be proud of the cooperation between Wall Street and elected government.
The U.S. is a sinking ship. Still, it's all a bit funny. Cheers, M. // ..almost forgot: F- George B.
Why not foreign mortgages too?
Dig this:
"The New York Times reports this evening that "foreign banks, which were initially excluded from the [Wall Street bailout] plan, lobbied successfully over the weekend to be able to sell the toxic American mortgage debt owned by their American units to the Treasury, getting the same treatment as United States banks."
The Times further reports that two of the biggest foreign banks in need of such relief are Barclays and UBS. In fact, my understanding is that UBS is more on the line here than any other foreign bank.
Let's add this up.
John McCain's top economics advisor, who is widely believed to be his choice for Treasury Secretary, should he win in November, is former Sen. Phil Gramm. (Indeed, just last night his spokesman refused to say Gramm wouldn't be McCain's choice for Treasury Secretary.)
Gramm is both vice chairman of UBS's US division and a lobbyist for UBS.
If UBS successfully lobbied over the weekend to get in on the bailout, what was Gramm's role in the lobbying?
No. Checks. For. Crooks.
Has anyone seen the new documentary "IOUSA", it's a great flick, and the scary party is that it was filmed before this mess. All bets are off once the USA loses the AAA credit rating, and/or when the confidence in the dollar takes a nosedive!
FDIC also looks underfunded.
That sounds like a good one. You should bring a copy when you come.
The entire US is sub-prime now. That's what really driving this mess. There are no more investment banks. There are no more bluechip stocks. What will it take to make people care?
Post a Comment