777 And Counting

It was a day that covered the gamut of all possible human emotions. No one knew what to expect. By the time that fateful day ended the Dow Jones Industrial average had dropped 684 points. That day was September 12, 2001. On September 29, 2008, no Islamofascist explosions had downed any passenger planes. There was no dancing in the streets within the Muslim nations nor was there any candy thrown in celebration as there was on September 11 2001. I am sure that there was an impromptu arabesque or two performed at Obama headquarters around the country. All is going according to plan. Due to the diligence of the Democrats and their unending sixty-year effort to decimate our country, on September 29, 2008 the Dow dropped 777 points…and counting.

The idea that Pelosi, Frank, etc., came up with was to simply make a bad situation virtually permanent. Just for starters, this great idea had the government (AKA: you and me) buying up bad mortgages and other lousy “investments” from troubled banks and other financial filchers. The left wanted to reward the cranial density of these institutions without requiring them to change their operating procedures, most of which were forcibly instituted by the liberals themselves.

They decided to up the ante by placing 20% of the profits into a fund for, of all ironically named things, the Housing Trust Fund. ACORN (more on them later..) and other vagrant magnets would benefit greatly from this. Maybe if we placed all of these non paying bottom feeders in public housing provided by the “Housing Trust Fund” in the first place as opposed to giving them lavish homes that they obviously can’t afford, this problem might have never materialized. If I have to pay for everyone’s housing, I’d like to be doing the choosing, not the ungrateful pickpockets. Isn’t this why apartment buildings were invented? Can’t pay a mortgage, pay rent. In combing my copy of the Constitution, I must have overlooked the “inalienable right to a home that someone else has to pay for” clause or article.. Beggars can’t be choosers except when the “fairness monitors” of the left are over involved.

Please take note of a few pertinent words in the second sentence of the last paragraph. “Bad” mortgages. Is the theory being forwarded that if the government (AKA: you and me) buys up these “bad” loans that they will miraculously become “good” mortgages? As well, if the banks and lending institutions became “troubled” after making these “bad” mortgages, wouldn’t it logically follow that the government (AKA: you and me) would then become “troubled”?

This burglarious bailout was supposed to “bolster companies balance sheets, making them more inclined to lend..” If these companies are going to “lend” to the same losers, what lesson will a bailout have taught them other than there are no personal consequences for their plundering?

The obvious urgency to address this problem encouraged and enabled the liberals to unleash their maximum Socialist potential. When the pressure was on, the liberals knew that the markets were holding their collective breaths awaiting the “Congressional Collectivist Consortium”. With McCain front and center on the issue, the left tried their level best to assemble a bill that no one in their right mind would support.

What an amazing set of regulated robberies they wanted to put into place. It was nothing more than organized crime by any other name. The “lead up” to all of this is what needs a little bit of attention as well..

The builders assembled lots of oversized five bedroom, three bath houses. The realtors then sold these houses. The “lending institutions” then made 125% loans (etc) with “no money down” to those who did not have the ability to pay these loans through to closure. This group was also handed countless credit cards, which surprisingly were pushed to their individual and completely unpaid limits. The “lending institutions” hoped to “score” from the application of justifiably higher interest rates that were applied to these loans that never had a prayer of being paid off. These loans invariably failed. These loans HAD to be made. Because it was “fair.” No chance for disaster there..

Something as sensible as “risk based pricing” was classified as “discriminatory”. What is wrong with the idea of charging more for extending credit to slugs that were rightfully and properly identified as posing a greater credit risk? In the world of liberal “fairness”, the risk eventually falls to those of us who involuntarily pay taxes to the federal government.

Suddenly, “risk based pricing” became known as “predatory lending”. Imagine just for a moment, the idea that those who are more likely to default on a loan should have to pay a higher rate of interest and higher finance charges in order to indemnify the lending institution for the increased risk. The “discriminatory unfairness” of it all..

This was all hyper-inflated in order for it to become the necessary “crisis”. This was “systematic discrimination”. The “standards” were “discriminatory”. It took wonderful community activist organizations like ACORN to take on HSBC Finance and H+R Block along with typically helpful liberal courts. This judicial “extortion” was the Rosetta Stone in the “shakedown charade” that was to come, all motivated by the “fairness” of it all. The liberals brought this collapse to fruition and they had help from the liberal courts. This is just another reason why they should be denied the clean sweep of the House, the Senate, and the Presidency and with one more liberal jurist, the Supreme Court.

Have we just reached a point where regardless of your reckless “investments” and experiments, that once you reach a certain size, you aren’t allowed to “fail”? Just the day before, twenty five billion more in governmental (AKA: you and me) Monopoly money was given to the U.S. auto industry in the form of loan guarantees. In 1980, it was 675 million handed over to Chrysler. These most recent loan guarantees were intended to “spark a wave of automotive innovation”. Automotive innovation is something that the domestic auto makers have been systematically avoiding for nearly twenty five years, thus the poor sales and of course, twenty five billion from the taxpayers ought to do the trick. I sure hope that I won’t need a loan for one of the “innovative” and unnecessarily expensive domestic cars because I probably wouldn’t get a loan because I have the ability and the discipline and a history of paying loans off..

The liberals answer is to leave all of the candy in the store and to allow the same knucklehead to be in charge of the place and then to make the diabetics pick up the tab..

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101 responses to “777 And Counting

  1. Larry,

    I’ll to be kind and avoid blowing a proverbial gasket – it’s too early in the day for a migraine.

    Here’s what flummoxes me. How come our weak-kneed Republican Congressional leadership – allegedly – isn’t out screaming on the rooftops about those 2004 Committee hearings where the Black – excuse me, people of color – Caucus, with Frank, Dodd, et.al, chiming in on cue, were excoriating the lil’ $158,000 annual salary regulator dude who was desperately trying to warn the “appropriate [allegedly] Congressional Committee about the impending Fannie Mae and Nightmare on Elm St. Freddie implosions?

    Embittered, clingy small-town lemmings wanna know!

    I am PRESUMING whatever still passes for conservative “leadership” [allegedly] inside the bastion of the elitist incestuous prattlers along the Eastern seaboard, has failed to do so perhaps because they don’t want to be seen by the errrrr, ummm … ahem … “underprivileged” voters amongst us as being ole meanies who don’t want them to live in their foreclosed home for free on the taxpayer dole in perpetuity (rather like those Ivan and Katrina FEMA trailers, which SOME, not all, but SOME, will live in – yes, being born ‘n bred in the Bayous of LA albeit in temporary exile in OH in pursuit of that “gainful employment” thingie, I can speak truth to this – ’til those FEMA trailers either fall down around them or another hurricane blows ’em all out to the Gulf).

    What next? Another Trillion or two so the flaming liberal, grossly conflicted with Wall Street interests Treasury Secretary – ‘scuse me, I mean ruling centralized economic Monarchy – to pay their utilities bills and upkeep? Or, perhaps new living room furniture from Ethan Allen?

    Inquiring small-town lemming minds wanna know!

  2. O, sorry, Larry. I neglected to point out I found your commentary today, as usual, most excellent.

    I’m still in shock, albeit immensely thankful, we weren’t converted from a Democratic Republic to the Socialist Super-Glued Together Communist States of Americana yesterday by our cowardly Congressional leaders [allegedly].

    My apologies for the initial oversight. Now, let me go soak my head to prepare for the next travesty Pelosi and her nutty save the planet cohorts in Congress plan to trot out and try to foist on the American taxpayer later this week.

  3. Give us this day our daily No Left Turnz… Larry I do hope you take Obama to task regarding his ACORN connections. Here is just a taste…

    http://townhall.com/Columnists/KenBlackwell/2008/09/30/an_acorn_falls_from_the_tree

    Fed Up in USA… absolutely sick to my stomach. Are there no REAL leaders left in this country?

  4. Thank God for the true Conservatives in Congress who stood up to the Robber Barons and voted against the legal robbery of the American taxpayers. My one question: Why did Rep. Boehner vote “Aye”??? John McCain ought to be ashamed of himself for supporting the robbery of taxpayers. I will still vote for him, but I have lost a lot of respect for him. He needs to help craft a Conservative bill that will lower or eliminate Capital Gains (to inject capital into the economy without forcing taxpayers to pay for it) and make the true criminals pay for this mess. The FBI needs to expand its probe to include the Clinton-era and Bush II-era politicians and government agency personnel who forced banks and lenders to approve mortgages and credit to unworthy people. Heads need to roll.

  5. Larry,

    Great read as usual. I also agree with Amy D and her disappointment over McCain. I think before we get any real traction there will need to be a minor revolt of the masses. It seems that a number of our “congressional leaders” ( seems like an oxymoron) are affraid to do the right thing for fear of being voted out. I say they should be and if that voice gets loud enough this can and will get fixed properly.

    Just a lonely man’s opinion…

  6. Redbone: “Are there no REAL leaders left in this country?”

    Well, I thought there were more conservative leaders [allegedly] than there apparently are, Redbone.

    I have to admit, being of the female gender (it is ok to still be gender specific, isn’t it?; or did we go to some kind of politically correct neuter non-specific whilst I slumbered? [sarcasm intended]), when Bohner (who is not our Congressional Reps, we’re stuck with Tim “San Fran Nan, Tell Me How to Vote” Ryan) and Cantor, et.al., emerged Sunday night, nicely folded like the pair of proverbial cheap suits, I cried a lot, ok?

    I thought for sure that accursed socialist bill would pass Monday and am immensely relieved it did not … although God alone knows what other millstone Congress is busily working behind the scenes to hang about the neck of every hard-working American taxpayer.

    I know our Constitution has been nothing more than fodder to be trampled underfoot for years now inside the Eastern seaboard corridor of the royal order of elitist incestuous prattlers, but it did something to me deep inside the other night to ponder the passage of a bill which would effectively formally socialize our free market capitalism and, thus, effectively overthrow our Constitution and Bill of Rights.

    Here is my contention: just as we have the right to succeed here, to fight and scratch and work our guts out to create a good, decent living … and dare I say, even WEALTH, our United States Constitution and its accompanying Bill of Rights also affords each of us the right to FAIL. To get back up and try again and again and again as long as it takes to succeed.

    What that document has NEVER afforded ANY American citizen, however, is the right to rob, rape and pilfer the paychecks of our fellow hard-working neighbors and citizens. Period.

    Nowhere does it afford us the right to have our failures socialized by our fellow American citizens.

  7. Truth be told.

    I have blogged about this several times in the past 2 weeks and am glad to see that it is finally getting some air time. Last night on O’Reilly they aired the tapes from 2004 showing Maxine Waters and other Democrats insisting on keeping the status quo on subprime lending desipte evidence it was ripe for collapse.

    Now these maggots are pinning the blame on Republicans and they sit by and take it on the chin???

    McCain should have ripped BHO to shreds on this issue (debates) as should all other Republicans listening to this nonsense. The mainstream media – well, can’t expect they will ever report the truth on this as it would and should doom BHO.

    Hopefully, this info will become epidemic on the net and liberal run stations will ultimately carry it (as with John “the snake” Edwards).

  8. Larry – I’m no economic genious, and I may be naive, but I think this will all work out if we just leave it alone. The government is saying that it will be harder for anyone to get a loan without this bailout passing. I say GOOD! There needs to be restrictions now for people borrowing money, especially people who have no intention of paying it back. I was looking at how much my 401k dropped recently, but I rather see it drop than to bail out these knuckleheads on wall street and the people living better than me with their bad mortgages. I dont want my children or even my grandchildren to pay for other’s mistakes, and that will be what happens if this bailout goes through.
    Beth – who is also fed up in OH

  9. Great as always, Larry – while I’ll vote for McCain, I want to hurl something against the side of his head!!! Why isn’t he screaming from the rooftops about the likes of ACORN and also how, in 2006, how he tried to get Freddie/Fannie under control but DEM’s dropped the ball??? He needs to take the gloves off & stop the “finger in the wind” campaigning.

  10. Alabama Redneck

    Larry, another great, thoughful insight into this mess. The trouble is that too many dumbed down american cannot see the trees for the forest. I agree with Amy D. that J McC should be ashamed of himself for even thinking about crafting this stinker of a bailout. He would have scored high in the polls if he had opposed this whole rotten deal. If americans think a collapse of wall street is inevitable and we (taxpayers) must bail them out, the pain will more prolonged. What will be next? Credit card debt, auto loans. Where will it end??? We are heading for a fascist economy and total loss of our freedoms. We should let wall street fail or correct itself now. We should bite the bullet and get it over with so that we can get on with our lives as best we can and make this painful time shorter than if we go deeper into dept as a nation. Do away with the federal reserve and its Monopoly money. Put the country back on the gold standard. Impeach everone that voted for this monstrosity including Bushie Boy and his stooge Paulson. We need a French style revolution and send all those responsible for this mess to the guillotine. This nation was not founded as a democracy but rather a Republic and we need to adhere to the principles of the founding fathers. Yes I fear for a lot of people and my children and grandchildren. I am retired and live on a fixed income but I have the ability to grow a lot of my own food. I believe that the next two years are going to be decisive in what happens to our country and unless we get God back into out national psyche and daily lives God will surely leave us permanently. Brave New World my a++.
    Thank you Larry for giving me the space to sound off as I am totally angry (mad as hell) at the incompetence of our electorate to vote values over substance. Thanks to our public school system we now have at least three generations of dumbed down, brain washed, lemmings whose heads are full of mush (Rush Limbaugh quote) voting for whatever sounds good to them. Words are everything. How sson before we lose the fredom of speech?
    May God still bless America.

  11. As a retired military officer I am dismayed at the lack of leaders we have. I agree McCain should be screaming from the roof tops about who is responsible for this mess. This all started with the peanut farmer, added to by the hillbilly from Arkansas and his gang. Then the persent gang of congress members figured out how to screw us even more. Vote out all the bums that supported this monstrosity. Burn up the phone lines to congress, blog, blog, blog.At least those of us that live in TEXAS have a chance to opt out of this country if it goes communist. You can bet we will take our guns and bibles with us. God bless America. God made man, Samuel made all men EQUAL. Join the NRA even if you do not have a gun or hunt.The NRA is the only organization that looks out for all our rights.

  12. I Goofed it shoul say Samuel COLT made all men equal.

  13. Alabama Redneck

    WOW. This is a must watch. Keep in mind that this is a Dem Rep. she sounds more like a Regan conservative.

    www,youtube.com/watch?v=S27yitK32ds.

    Really good stuff from this lady.

  14. Our Republic dodged a bullet yesterday, the Republicans, and some 40% of the Dems declined to make us a Socialist state. It proves that when enough of us scream our bloody heads off we can be heard. Pelosi tried to pull off the worst piece of naked Machiavellian manuevering I’ve ever seen, setting things up so the Republicans could make the difference to get this rotten POS made into law, worst because she couldn’t even get her own party to go all the way, and then she scolded the Republicans and lambasted Bush to convince them to vote her way. We conservatives gave her a hale & hearty ‘screw you, hippy chick’. The Dems (the Annoited One included) have been taking kickbacks for years from Frannie and Freddie, and Barney Fag has the gall to weep that we didn’t fall for the ‘No Crook Left Behind’ Act. They caused the mess (trust me, if any Republicans were involved their names would have been dragged through the mud) and they expect us to pick up the tab. Its time to put the moonbats in prison, where they belong.

  15. Larry,
    The 700 billion bailout is figured on just 5% of the loans are bad.
    The real figure of bad loans is more like 10 to 15% of all outstanding loans.
    700 billion will not be enough to cure the problem.
    It could take up to 2100 billion to do it the socialist way.
    All at tax payers expense.
    We cant reward greed and criminal negligence.
    The only realistic solution is to let the free market take it course.
    I don’t feel sorry for someone who lost his house that he couldn’t afford in the first place.
    You can blame it on predatory mortgage brokers and and greedy lenders,
    but bottom line the borrower was culpable as well.
    The lenders were giving out mortgages to any one who could prove he was breathing or could prove he didn’t have a job.
    I was afraid to send my dog out alone for fear he might come back with
    a mortgage.

  16. Larry,
    Excellent as usual.
    It apalls me that noone is aware of the monetary support of ACORN and LaRaza via the housing trust fund!
    It apalls me that ANY Republicans voted “aye” on this proposal.
    It apalls me that my mediocre candidate is virtually pissing away the election by being “bipartisan”!
    You cannot LEAD if your primary goal is to befriend EVERYONE!
    It apalls me that Bush has become an embarrassment. He is even MORE of a “new world order” advocate than his father!
    This bailout only addresses the housing crisis. What is going to happen when the credit card debt and commercial loans fail?
    Why oh why are their no LEADERS within the conservative ranks? Why won’t the Republicans call a spade a spade?
    Good Lord, Tom Tancredo even supported this boondoggle!
    Both congressmen from my greater area ( one D, one R) voted “aye”. UGH!

    Dr. Dave Modesto, CA

  17. My so-called Republican repersentative (Ander Crenshaw, FL) voted for this boondoggle, as well. For the past 4 years, I have suspected that this guy was a RINO, and now this vote has confirmed it. Granted, Rep. Crenshaw does support the military, but I saw his true colours during the Terri Schiavo debacle (God Rest Her Soul). UGH!!!

  18. OH Fed,

    You have nailed it..

    But your observations will go unheeded in D.C.

    “Weak Kneed” to say the least.

    No one wants to take the chance of being out front when the firsat salvo gets fired.

    I agree completely. They want to retain office at all costs, even if it ends up being 700 billion of our dollars..

    Tkae care my friend and this site is yours to rail on at will..

    Thanks as always,

    Larry

  19. Redbone,

    Stay tuned..

    The leaders are those who aren’t afraid to put their elected office “at stake”. Thus no leaders..

    Thanks as always,

    Larry

  20. Sister Amy,

    Much as it pains me to say, NO ONE WANTS TO BE WRONG BY THEMSELVES.

    Thus the “leaders” that you and I pine for are mere images of those of the past…

    Obama and McCain will probably mirror each other. If someone ends up completely wrong about this during this election cycle, they will be castigated by their opponent.

    Not saying its right, just saying that that’s how it is…unfortunately.

    Thanks as always,

    Larry

  21. Lonley Man,

    Lonely no more, a member of the NLTZ family is NEVER alone..

    Agree completely. Reasons given in the comment to Amy..

    Its sad but true.

    Thanks as always,

    Larry

  22. Fed Up/OH,

    Keep the faith.

    Tell the world nad bring ’em here.

    We will do the rest.

    Thanks as always my sister,

    Larry

  23. Joe,

    Maxine waters, that says it all right there..

    I’m with you, I’ve been laughing about the credit handouts for quite some time. “Yearning Versus Earning” was an early run through about credit and potential problems..

    I’m not laughing anymore and neither are you..

    I’m working on it. Stick with me.

    Thanks as always,

    Larry

  24. OH Beth,

    I agree but the problem lies relative to the existing mortgages that are insolvent.

    Thats where they are going to rob you and I..

    Unless we refuse to let them.

    Tell the world. Those who are apathetic get what they deserve.

    I may place the “Introduction” to the forthcoming NLTZ book entitled “Navigating the Liberal Labryinth” as my next article.

    It seems rather timely right about now, but I will leave that up to you faithful commenters..

    Thanks as always,

    Larry

  25. Yvonne,

    Thats the ticket. Maybe Thursday night, a woman from Alaska will do the job that needs to be done.

    Watch her go..

    Thanks as always,

    Larry

  26. Alabama Red,

    This site is yours take as much space as you would like my friend..

    The “undecided” are now concerned about their immediate investments, their home, their IRA’s, etc.

    If McCain now goes against the Bailout, Obama then assults the “undecideds” with a “McCain wants the nation to drown” kind of commercial even though the bailout as it stands will do EXACTLY THAT.

    The difference being that the majority of the damage will come to fruition AFTER election day. Obama can crow that he is for the working man as long as he WINS THE PRIZE, he doesn’t care because this happened on Bush’s watch…

    Thats why the gamesmanship at this point.

    I don’t like it but that is how I see it..

    Hurry back my friend,

    Larry

  27. Graywolf,

    By your lead, Sir..

    Tell the world, send ’em here and lets gang up on them.

    Just have someone who is curious, uninformed or ambivalent stop by and read these great comments.

    If that doesn’t help them to see the light, there may be no helping them.

    Thanks you for all that you have done to make this nation as great as it is.

    My best to you,

    Larry

  28. Alabama,

    Try the link again, it didn’t take..

    Want to see it..

    Larry

  29. G. Man,

    Why can’t we bring back the stockades?

    Put these Fannie and Freddie dolts in the town square at lets have at them with the veggies and anything else that we can grab.

    A society that has lost all sense of accountablility and responsibility has allowed this to happen..

    Become informed. If not get out of the way, lemming.

    Thanks as always,

    Larry

  30. 3 Head,

    Check out the oldie “Yearning Versus Earning”.

    This credit crap has been a long time in coming..

    It won’t go away any time soon..

    Thanks as always,

    Larry

  31. Dr. Dave,

    I think that it is not a question of “befriending” everyone its that these “leaders” don’t want to “offend” anyone.

    I believe that they should all come to your office for an examination because I have no idea how they have gotten to where they are without a spine…

    Or is it that it is so crooked that a series of adjustments from you wouldn’t help in the least..

    Thanks as always,

    Larry

  32. The number 777 in Biblical numerology means and signifies the complete and total wrath of God. Not a good sign.

  33. Hi Larry,
    Is this still America…just checking!
    The burdens of knowledge…of knowing…having a keen sense..a gut feeling…it makes me tremble.
    My proposition for today is that we as a country…a people…are being extorted.
    Is it too late…I hope not.
    I’ve connected the dots….what I have come to realize is, we are victims of our own sense of fairness…leveling the playing field…when everyone else cheats.
    A co-worker told me today that the Republicans aren’t in this fight to win…but have already decided we shall make our move in 2012….after the anti-christ has had his folly with us….and the rest of the world.
    This, of course was in response to my theory that the folly was enacted back in 2004, backed by so much hatred for the right..that again they eeeked out another win. By hook or by crook the dems made a pact, never to lose the next go round. Are they succeeding?
    It’s time to take the gloves off…is John McCain up to the challenge…does he understand what is at stake here? I need to believe that he does.

  34. The sad thing is, no one is actually defaulting on their loans yet…
    Well, I can’t say NONE of them have, but most have not. However, they are categorized as “high risk”.
    And this thing starts to feed on itself.
    As economic numbers start going south, these “high risk” loans get pushed ever more into “higher risk”.
    This forces the lending institutions to set aside even more money in “anticipation” that a certain percentage will fail (not that any actually have).
    This cycle keeps repeating itself until we arrive at where we are: Fannie and Freddie have soooo much “high risk” debt, that they are asked to set aside a LOT of money in ‘anticipation’ that LOTS of them will fail. And, as we see, that is more money than Fannie & Freddie are worth !!!
    The feds (you and me) buying up these “high risk” debts clears the books for the lenders, but puts the feds in the position of making sure the economy doesn’t sour any more so that MOST of those HIGH RISK loans do not in fact default.
    HOWEVER!!! If we do not change (gotta love that one BHO….change!) the WAY they are doing business (ie, mafia-forced loans to the unemployed), then in a few short years (uhh, 3-5 years) we will be RIGHT BACK IN THIS SAME SITUATION!!!

    I say, GOOD! Let Fannie/Freddie carry the load.
    Let loans get tough to get.
    Let the poor be expected to buy FOOD with their food stamps, and NOT make house payments with them!!!

    STITCH!

  35. Great article as always Larry. Keep up the good work.
    Have you noticed one thing missing in this farce they call a bailout? “Special Prosecutor” This is one of the favorite things for the Dems, when they blame Republicans. I noticed one was appointed to look into the the prosecutor firing.
    But not a word has been mentioned for the corruption, thievery, and fraud in this Bailout. Am I missing something here. I know I’m just an old country boy from South Carolina, but is there anyway I can demand one. It’s some of my money they are spending…oops “giving away”. I have a strange feeling that having a Special Proscutor appointed would find alot of people on both sides, “Up a polluted tributary with insufficent Locomotion”, going back to the peanut farmer, turned enemy of the state, Jimmy Carter, and on through the Clinton years. The biggest joke of all, is, they want the people who screwed it up in the first place to fix it. I say lets put them all in jail, or at least out of office

  36. JR of MEDWAY MA

    Lost my byline had to restart
    777 casino slot machine big win
    very few for the player so the house
    takes the money
    seems similar to the buy in program that the pols are looking to us to contribute NO WAY JOSE
    Watch the Jackie Mason tape
    sure points out BAMA CUGEMA
    KNOW AS BULL BLEEP
    CUTTING INTO POLS CAMPAIN TIME MAY FORCE SOME LOSERS

  37. R.A.R.,

    2012?

    If the Republicans lose in 2008, what will be left come the mid term of 2010?

    Will there se enough to salvage?

    We cannot let this happen..

    Thanks as always,

    Larry

  38. Stitch,

    Untouchable.

    Thanks as always,

    Larry

  39. LEAVE IT TO THE POLITICIANS TO MAKE ECONOMICS A POLITICAL ISSUE…IT WAS BAD BUSINESS TO MAKE THESE LOANS AND GOOD BUSINESS TO DRIVE THOSE LENDERS OUT OF BUSINESS. ETHICAL LENDING MEANS CAREFULLY CONSIDERING THE FACTS WHEN MAKING A 30- YEAR LOAN TO A PERSON THAT CAN’T RUB TWO NICKLES TOGETHER TO MAKE A DIME…YOU’RE NOT DOING ANYONE A FAVOR BY MAKING THESE LOANS TO PEOPLE THAT DON’T UNDERSTAND THE RAMIFICATIONS OF THEIR OWN ACTIONS… LET’S GET REAL SOMETIME AND SOMEDAY.

  40. Alabama Redneck

    Larry
    Let’s Play “WALLSTREET BAILOUT” The Rules Are… Rep Kaptur

    Posted 9/30/08

    TO VIEW THIS VIDEO CLICK ON:

    Try this link. Hope this works.

  41. Frankie,

    That special prosecutor thing will probably pop up about a week before the election..

    Mere coincidence..

    Thanks as always,

    Larry

  42. JR,

    It is like a casnio, they win we lose.

    Thanks as always,

    Larry

  43. George,

    We may just be going back to those days.

    With a little competition for the buyers, maybe these builders will start manufactuiring homes where you won’t see nail pops after about ten months..

    Nahhhhhh..

    Thanks as always,

    Larry

  44. Alabama,

    That’s got it..

    Thanks.

    Larry

  45. Threatening federal reprisals toward banks and lending institutions, the Demorcratic’s dimwit Bill Clinton forced them to issue low interest, bad credit housing loans specifically to placate minorities. Not to worry your credit, if you could dribble a basketball, hang on a hoop or were single with three kids, you were eligible for a loan.

    Though the cause, liberal Democratic leftist politicians as well as Repubican politicians are to blame for today’s current economic fiasco.

    The blame can also be place upon the banks and loan associations that took the opportunity to avidly seek out these bad loans, crawling over one another as if a pack of dogs with only one bitch in the pack. Good business schooling? Perhaps they had leaned against the building rather than attended the classes.

    I have just been made aware of the fact that the bank that handled my credit card leads in issueing these bad loans. On top of that they had also been issueing not only loans but credit cards to illegal aliens! (I do mean handled as I’ve cut it up.)

    It’s interesting that “Acorn” should be mentioned. A flagship of Acorn called “HumanSERVE” was an organization founded by Richard Andrew Cloward and Frances Fox Piven, who in my estimation are extemists in their thinking but not un-realistic in the possibilities. Before Acorn was established, Cloward and Piven proposed the ‘evil whitey’ rules of the welfare system be adhered to in every way. Their thinking being that if they could mass the peoples that, by the rules, are entitled to welfare they could bankrupt capitalism… They, in part, were right as they succeeded in bankrupting New York City in 1975.

    Cloward and Pivens’ plan then called for aggressive organizers, demonstrations to create an aura of militancy. They proposed a media campaign, which would be happily carried out by the leftwing media journalists, promoting the idea of a federal income redistribution program that would ensure a living income for all. Is it the ringing of Left’s Liberal “HELLO SOCIALISM” I’m hearing or is it just my old ears? Local officals would grab on to this as a drowning man in water. Because it threatens his very way of life, his income These two guys needn’t have bothered going through all the strain of their planning, hell, our own politicians have been doing their best to achieve the end result they sought. We, although we’ve avoided the bailout, are still going to pay for it in the long run. What, you were expecting the bad creditors to bail you out?

    “Risk based pricing.” Couldn’t the same principle be applied through legal channels towards the Internal Revenue Service. Afterall, we, as taxpayers, are forced to extend credit to “slugs that” (are)”rightfully and properly described as posing a greater credit risk”, Washington, D.C.

    I, for one, when hearing a government economest say that the American taxpayer will recover all of his/her money OR most of it, my ears prick up. As with all money matters, the word “or” brings a conatation of the mystic’s glass ball to me and I have reservations. Only if scribed in legal contract would I have faith in the word and then, considering the government’s past history in promised repayments, that faith would be pallied.

    It was the administration of Jimmy Carter, being adamantly reinforced by the Clinton administration that we ultimately find ourselves in the economic crisis we have today. The blame cannot be placed on one, but both partys, lending facilities and lobbyists.

    We must ensure that a bailout does not occur. 700 billion dollars being inforced upon the American taxpayer as a result of irresponsibility is not acceptable. Nor will it end at 700 billion dollars… another 500 billion dollars will follow. All to be handed down upon the responsible working American people, the citizens who take pride in their country first, not in their race.

    Who cares what color an American is? If he is to amount to anything he must rely upon himself and not upon the the state or government. The man must take pride in his own accomplishments, strive towards them, instead of sitting idle envying the luck of others and waiting for an unearned government paycheck. He must face life with self-responsibilty and courage, win victory when he can and accept defeat when he must. Above all, in my way of thinking, he must do this without seeking to place a responsibility which is not theirs.

  46. Fed Up in OH

    Thanks, Larry, for your kind and gracious comments – ’tis greatly appreciated!

    Okay, folks, if you haven’t seen this little CSPAN YouTube video montage related to the blatant socialistic $700 BILLION (and counting) centralized power grab yet, here it is and it’s a real doozie.

    Watching it makes that big vein in my neck throb in unison with the smoke pouring forth from both my ears.

    You’ve been forewarned:

    In case the clickable embed link works:

    Fannie n Freddie n A Nightmare of Elm St

  47. Alabama Redneck

    This woman, Rep Marcy Kapur (D) Ohio 9th district, Toledo deserves a big thank you from all conservatives

  48. Windrider,

    As always, a classic.

    Thanks for your contributions to NLTZ.

    Larry

  49. Jim a SoCal Conservative

    Larry, great article. Now to the issues…
    can McCain put some STEAM in his rhetoric these last 35 days?!! Attack Obamanation on TAXES and more TAXES and the $700B of taxpayers TAXES going to Socialism in this century!
    McCain has all the ammunition he needs, he just refuses to use it. Where’s the POW with the inspirational talk? Where’s the Senate MAVERICK? Was PALIN his last and only SLICK MOVE????
    Come on…!! We have a Country to SAVE!
    We have honorable citizens of this great country looking for HIS LEADERSHIP…but, if he doesn’t display much more of that leadership soon…he will NOT deserve the White House. He will have all but conceded the Conservative Cause to a Charlatan with Socialism up his sleeve.
    God Bless America. Today we need it.

  50. SoCal Jim,

    Timing is everything, lets hope that he is not waiting too long before stepping things up.

    Thanks for the kind words,

    Larry

  51. I’m hoping McCain’s laying low is a war tactic. Get the enemy off guard.
    I talk, vote and pray for “divine intervention”…it worked last time.

  52. Larry,

    Great thought-provoking article. Thank you.

    Well, it looks like the Senate, in it’s infinite wisdom,(if you can get over that without barfing-you’ve got an iron stomach), has patched together a bill that our “wise” and omnipotent presidential candidates and daffy duck VP, have said they will return to D.C. to vote for. One that they say will appeal to the republicans in the house that wisely didn’t vote for the other version & will vote for this one. It contains some tax breaks to solve the AMT dilemma that’s about to pop up, tax relief for those hit by natural disasters, renewable energy incentives, and extension of expiring tax breaks. These were passed earlier by the Senate, but didn’t pass the House. Also it raises the FDIC limit,(why this provision?)

    I have this recurring problem and question that is in the back of my mind, and that some have risen, here and elsewhere, – that is, if the failed bailout bill was so great, then why can’t Congress get the needed votes from Democrats to pass it in the House, they have a majority there? Is it because the Dimwitrocrats want to hang the eventual 1-3 Trillion expenditure around the Republican’s neck, or afraid to do something by themselves, or is it the poor leadership, (not only poor, but the vilely partisanship of SanFranStupid -a much nicer name than I call her in private!). If anyone would care to see the news report from the AP, here’s the link. Saw it on Yahoo-

    http://news.yahoo.com/s/ap/financial_meltdown

    Oh, BTW, did I say that AP is calling this the Bush Bailout Plan? I’ve got a better name for it!

    This Mark to Market sounds good. Too good to be true? It sure as hell didn’t do Enron any good, but the financial gurus say it will let banks have more liquidity and therefore loan more money to ease the credit crunch. Hey if their credit is good, they shouldn’t have a problem getting a loan. To beat a dead horse, the opposite is what caused this mess.

    My own personal opinion is: If you ain’t got the ability to pay back a loan, Screw you!!! Come back when you do

    My theory is that the “everybody deserves more than they are entitled to can be traced to the liberal education mindset of “everybody deserves something”- “we’ll give an award to everyone who participates-whether they win, loose, or quit. There are no winners or losers” “Lets not hurt anyone one’s feelings”, “we can’t let somebody have something that someone else has”. Ergo, I have a home that I’m paying for, however that shouldn’t keep “worthless” from having one , too. This is the mindset of out great liberal education system for the past thirty or so years, implemented by the mindless, socialist, liberal dimwitocrats. Who actually started this thinking anyway.

    I certainly wish we had a different candidate as head of the party. Guess we’re stuck with McCain, but if he doesn’t get off his ass and do something, be more agressive, get off this “cross the isle BS”, we may be stuck with-God help us – Hussein.

    Thanks again for the forum, Larry.

  53. Great article Larry…sadly the “Bastion” of capitalism,Wall Street is populated with the same hoard of socialists, demanding government intervention, while threatening “dire” consequences for main street if we don’t give them this money. Earth to Wall St., the rest of us have been living with economic problems for years; listening to bankers wail that this is “the 1st time they’ve ever had to worry about money”, makes me sick if it wasn’t so pathetic. The same individuals who created this entire mess,while ignoring economic realities, are now trying to fleece the electorate while insisting that more of the same bad medicine is the answer. All the while blaming the free market for the problem. Isn’t that rich…free markets…where?…here? in the US? They’ve got to be kidding me.And as far as your statement ( What is wrong with the idea of charging more for extending credit to slugs that were rightfully and properly identified as posing a greater credit risk?),well of course nothing, except that those slugs generally turn out to be black or Latino, therefore economic realities are”racist”. And nobody thinks feel good/identity politics have any effects in the real world. And the cherry on top of this s*** sundae is “community orginizer” extrodinare BHO. The fox will indeed be running the henhouse. Hold onto your wallets.

  54. orvill,

    I believe that the FDIC $100,000 is a good thing.

    I think that it helps to protect those who SAVE, not those who BORROW.

    I am in the latter club so I welcome it..

    Thanks as always for your great comments.

    Occasionally, if anyone puts a link on their comment, it goes to a Spam file. I check it once a day to make sure that the commenters don’t get flushed. Sorry it took so long to fish you out.

    Larry

  55. tsnamm,

    I would hope that the “fairness” provisions would be a thing of the past after this fiasco.

    I DO believe in “fairness” in lending. If you can AFFORD to borrow $100,000, (that means that you realistically have the ability to pay it back, otherwise it would be called a GIFT) borrow $100,000. Not $300,000. Bankruptcy, like welfare, used to be thought of as a BAD thing, a personal embarrassment..Now it is a bizaree badge of honor.

    We received our home loan based on all of the usual parameters. They offered us four times the amount than we ended up borrowing, based on our “histories”.

    We based our payments on the ability to “overpay” each month. Interest sucks.

    Paid it off in about ten years.

    I should have been more irresponsible. I would have had a $600,000 house that everyone else could have paid for or the one that I have that the wife and I paid for..

    Oh well..

    Thanks as always,

    Larry

  56. Larry …it’s just unbelievable, the “fairness” doctrines are not going anywhere. That’s what the $700 billion is for, so they can keep doing the same stupid nonsense without any consequences. Its intersesting to note that many of these individuals in public housing demand” homes like everyone else”. While of course leaving out the fact that “everyone else” has to PAY for them. Now, that public housing isn’t good enough and instead we lend money to people who have no visible means of support except through our incomes. I really don’t understand when the middle class in this country will FINALLY wise up and say the magic word…NO

  57. The DemoRats already are plotting their insertions of Taxpayer handouts to ACORN and other Lefty groups in the new edition Bailout package being voted on this week. You have to hand it to them, they are tenacious when it comes to getting their hands on our money! It is absolutely disgusting, but I will be much more disgusted with Republican acceptance of a package of suck an inept and corruoted magnitude. McCain could make a lot of hay out of this fact and inform Americans of the Dems corrupt attempts, but I doubt he will.

    To top this off I hear PBS anchor Gwen Ifill is going to be the moderator at the Vice Pres Debate….another journalista in the tank for Obama. Can’t we ever get a break? Why does the McCain Campaign not fight harder for unbiased Moderators?

  58. tsnamm,

    Maybe if this scandal keeps its rightful place in the headlines, “No” might help with the pesky community organizer form Illinois..

    Lets “hope”..

    Thanks as always,

    Larry

  59. James,

    Another Obamazombie.

    Certainly “impartial”..

    If enough people watch and comprehend the VP debate, the favoritism will work against the Socialists.

    Hope there isn’t a football game or another riveting season opener for “American Idol”.

    I’ve seen enough of the “Amerikan I-dull” laughingly forwarded by the Democrats..

    Thanks as always,

    Larry

  60. If y’all have not yet accessed it, you should: Dave Ramsey (daveramsey.com) has the “common sense” solution/recommendation for our Members of Congress to READ & FOLLOW!!

    e-mail a copy of his one-page ‘solution’ to ALL of THOSE IDIOTS in your District and in Washington, DC

    Let’s bombard them!!

    Thanks every moment to Larry, and to his bloggers for their insights, and the encouragement they bring to every common-sense thinker.

    sprstirl

  61. sorry, Larry… I didn’t realize that you might consider my mentioning the dave ramsey thing as a “link” and that you might delete it as spam… I will try to word things differently in the future.

    Thanks again and again for all your effort in a seemingly ‘butt your head against this wall’ situation.

  62. Stirling,

    I don’t delete. WordPress just puts them elsewhere..

    WordPress just puts them into a file that I go into and remove real links from true Spam.

    I do it about once a day.

    Thanks,

    Larry

  63. how do you argue with an Obamazombie college student who was 3 years old when Clinton was elected making the same promises that BHO is now??
    Clinton PROMISED in 1992 that as president he would give all middle-class Americans a tax cut, raise the taxes on rich people, and close corporate loopholes. And this was how he was going to pay for the Great Socialist Society he and his hag wife planned to force upon the American population.
    Then, taking office in 1993 (with Congress still controlled by the Demonrats) he gave the middle-class the LARGEST TAX INCREASE IN US HISTORY!!
    (and NO “loopholes” closed…)
    In 1994, these middle-class Americans tossed the Demonrats out and gave both Houses of Congress to the Republicans.
    But we hear how Clinton gave us a surplus budget at the end of his term.
    Well, gee, let’s see. Largest tax increase in US history = money rolling in.
    Republicans in control of both houses = little spending going out.
    Nice….

    Its almost impossible to explain that to college students whose eyes are rolling around in there saggy little sockets while they daydream about BHO’s promise of free bus passes to the next concert.

  64. I just want to comment on the continued hypocrisy of the Democrats in the House and now the Senate. Look, the democrats have no problem financing countries that disapprove of the United States but are willingly sending them $700 billions yearly for our Countries oil/energy. They approve of the transfer of funds in order to stop off-shore, shale drilling and placate the environmentalists who live in their hip pocket. They have no problem with that at all.

    Nancy Pelosi’s political posturing this week to indict republicans and especially George Bush for having to bailout bad decisions that two other democratic Presidents Carter and Clinton made while in office. She emphasized the amount of funds it would take to fix this mess, $700 billion dollars. Yes, it’s a lot of money, but it isn’t a continuing annual fee, it’s a one time fee. So I guess her message is its ok to finance other Countries, pay massive fees for fuel/oil, transfer American wealth to poorer Counties those who want to destroy us, continue to have American taxpayers pay for both side on the war of terror with Iraq and happily put the Democratic stamp of approval. Their logical, even if they even have logical, makes about as much sense as Barack Obama economic plans.

    Presidents Carter and Clinton created this illusion steal from the rich and give to the poor and the only reason they reduce or remove regulations and restrictions on mortgage loans was to get the low income and middle income minority voters to vote democratic. Despite what Barney Franks claims, he made it a policy by pushing mortgage companies to cater to the minorities, overlooked the fact that they didn’t have the money to repay it back. Don’t worry about it, will find the funds the usual democratic philosophy.

    Fannie and Freddie and their CEOs and Obama supporters and now campaign adviser on the economy (now there’s a joke in there somewhere but I won’t repeat it), lied to the public, investors and to congress. The Democratic Chairmen’s of both the Banking and Finance Committee’s didn’t questions the information that was obviously flawed and decided to play dead, stupid or both. And to be fair, the republican on those same committee’s didn’t tell the American public either. Both John McCain and George Bush tried to push a Bill through in the Senate in 2005 to create an oversight committee to keep track of the financial dealing of both Fannie/Freddie and the democrats in Congress turned it down, said it was unneeded funds and wasteful spending. Fannie and Freddie were solvent. They not only have mud on their faces, but there is tons of bullshit there as well. No matter how hard they try to divert attention from the democrats on the Committee’s, the Democratic Leadership and the outright lies both played and reinforcing the misconception they put forth to mislead the American public as well as the investors who believed these same misconception and try to turn their errors and miscalculations on to the Republicans, it only shows in addition to be liars and stupid they are also illusionist.

    Look, our democratic Congress also put in place laws that Banks and mortgage companies were not only not allowed to turn down a minority for a home or personal loans, but made sure they could not by creating laws that made it illegal to do so. So, continue trying to connect the financial damage done to our Nation and keep blaming George Bush and Republican in Congress. Americans are so much smarter then the over-educated elected democrats in Congress. They always underestimate the American taxpayers and republican voters and believe we are stupid and we aren’t. We smell something here that is not only so dishonest and smells of corruption, but the more they continue to point fingers, the guiltier they look and the more their ineptitude shines though. So many lies were told that not even the democrats who told them can keep it straight. They clearly are trying to shift blame away from themselves, their hands are deep into this and now they are trying to perform a political cover-up by using a band aide. Sorry Nancy, Johnson and Johnson doesn’t make a band aide the size of Alaska and using millions of band aides won’t work either.

    It’s time for Americans to demand that they all resign from the Banking and Financial Committee’s in Congress specially Chris Dodd, who has already benefited from his role are Chairman of the Finance Committee and of course Barney Frank, and allow Americans to choose who will take over the Committee’s and if they refuse, will we demand that they be prosecuted for their stupidity, deceptions and anything else we can pin on them. We’ll create new laws that will allow our Justice Department to have free reign over the political hacks in Congress so we can prosecute them put them behind bar, where they can learn about the benefits of KY products. I think most Republicans understand what happened; we didn’t attend liberal colleges and universities, which automatically make us geniuses compared to any Democrat. We are Rhoads scholars, yes I know Bill Clinton was a Roadie, but the didn’t pay attention and he went there to pick of English chicks and make fun of their accents.

    Funds changed hands between corrupt bankers, mortgage leaders and democrats, either through re-elections campaigns or support of democrats in congress. There is no evidence now that shows that, but Democrats never do anything or make any decisions that don’t benefit them personally or financially, so I cannot imagine they would suddenly change that paths now.

    The fact that Barack Obama is using one of these corrupted individuals, who bankrupted Fannie or Freddie, walked away with $90 million dollars and is now his economic advisor on his campaign doesn’t bode for Americans or solving our economic concerns. Well, once this information is released and conservatives will once again question his judgment. There is a whole lot there to questions. Will he make him his Secretary of the Treasury? God, I hope not and I think God is on our side. (Opps, sorry to all you secular-progressives out there, I used the dreaded three letter word that you loathe, get use to it). We have seen what a Country who doesn’t believe in God looks like, it’s called Russia

  65. BREAKING NEWS:

    BHO is live from the Senate floor on CNN. This leftist windbag is damn near taking full credit for this new bailout. This a$$hole was on the campaign trail while it was being worked out. I heard his speech a few hours ago. In fact, this douchebag sounds more like he is campaigning than giving a speech on the Senate floor. Just now, he asked for MORE TIME to speak. When is he going to shut up??? I need a transcript to refute him point-by-point. I’m fuming now!!!! I received my anti-BHO books today. I just started “The Audacity of Deceit” by Brad O’Leary. My husband and also filled out our Federal Absentee Ballots. Hopefully, there will be no shennanigans and they will actually get counted. Please pray.

  66. I am still thanking God that the bailout did not become a reality. I believe it only shows the He is truly watching over this nation of ours.

    Had the bailout come to pass, our hard earned monies were to be spent bailing out the result of the liberals moronic attempts in coddling their sportive supporters. In an attempt to placate the honest, working peoples of this country who hold their head up not their hand out, we were promised a trust fund of which we “would get all or most of our money back.”

    I have a small problem with anything going into a governmet trust fund as it is in the government’s hands in the first place. The fund is subject to lower taxs, among other things, but while having a high growth rate, it is especially appealing to the government itself. As proven in past congress’, the funds can be a grab bag for pork barrel expenditures and other special interest items. With this in mind, it would take a long time to recover a 700 dollar billion bailout in full or part by the American taxpayer.

    And speaking of a special interests, Acorn is a radical leftwing black group, who remains relatively below the scenes the way as they prefer it. Hussein Obama has a long and close relationship with this organization. It is one of many that are interested in bankrupting capitalism. If Hussein were to win the election, with a majority House and Senate of leftwing lunatics that “feel” for everything except the future good of our nation, do you think that some of your trust fund would be allocated towards this and other such “Im still in bondage” groups? Forget checking for your wallet or pocketbook, it’s your whole sweet lil’ rear end that’ll be gone.

    “A wise and frugal government shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuit of industry and improvement, and shall not take from the mouth of labor the bread it has earned. This is the sum of good government.” Thomas Jefferson

    The bailout was an economic disaster leading to a greater disaster by noted economists. It was declared unconstitutional by some scholars of the Constitution… No, I don’t think Whoopie was one of ’em.

  67. For those who have complained about John McCain’s eagerness to vote for this bailout. I don’t want it either, but you need to look at all those who are retired or close to retirement who lost almost everything, including my father. I have a 401k but I am young and will recoup the loss and eventually it will continue to make money. My father not the same; he might eventually recoup what was lost, but not everything. John McCain is Arizona’s Senator and a great deal of seniors live in Arizona; I am sure he has to balance a thin line, help the seniors and placate others who live in Arizona. I am sure the Senators and Congressmen/women who represent Florida have to walk a thin line as well.

    The financial catastrophe will be enormous if we do nothing and is far worse than any plan Republicans and Democrats put forth. The fact that democrats are the ones who created this crisis with their deregulation, are the same who are writing the legislation. That shouldn’t happen their hands should remain in their pockets. They created laws that made it impossible for mortgage and banks companies to turn down minorities for home and personal loans. If a banker used common sense, saw they didn’t have the funds to repay the loans nor have the skills and knowledge that would increase financial personal profits so they could gain additional capital and repay it back. If they were turned down, the banker would be spending a great deal of time and money in a courthouse explaining why he turned down the loan. And, in addition to the court time there are financial penalties and fees the bank would be required to pay.

    What the public seems to object to about the money these CEO’s who destroyed these companies and lied about their profits to the Country and their investor but they followed the law Democrats put in place, walked away from the company they bankrupted and made money from the deal. That Johnson guy who is now Barack Obama’s economic advisor destroy either Fannie or Freddie finances and bankrupted the company and was allowed to walk away with $90 millions dollars. If this is legal then new laws need to be in place to stop it from every happening again.

    Another item I find offensive are increased taxes on capital gains. The democrats don’t seem to get the concept that we cannot place taxes on something that was destroyed by the laws they passed. They want to increase taxed across the board, but don’t want to curb their over spending. There is NO money, well let’s keep buying stuff and worry about paying for it later. That’s the same policy that put this Country so far in debt.

    They wanted the liberal organization ACORN to benefit from any money that eventually hope will provides gains, instead of returning the funds back to the public they stole it from.

    Rumors abound that Harry Reid wanted to include a line that would stop any off-shore drilling or shale oil drilling by making it illegal for any company in the United States to drill. God, they are so destructive and dangerous running around the capital trying to unearth funds for democratic causes. I cannot possible comprehend how any American could willfully vote for people don’t care about our Country and its survival so that democrats can squeeze another penny from the American public.

    I am reading so much and watching so much it’s become so jumbled in my mind.

    These are items most Americans are against and if Democrats want to vote them into the Bill, they need to understand the consequences of those decisions; they’ll need to update their resumes, change their careers so they can make more millions becoming lobbyist, which is the new career goal for ex-congressman or ex-Senators.

    I don’t know if I help to explain the circumstances John McCain is in, but another is if he sits on his hands and does nothing; every Democrat will nail him to the wall and throw darts at him. He’ll be demonized by democrats and the MSM will willingly assist in destroying him, not only from the Presidential campaign but from the Senate as well. He needs to walk a tightrope 1 mile above the ground on a rope the size of a piece of thread. I know this but he is also looking out for the public and he’s demanding massive changes. Look, George Bush has already signed legislation regarding almost $500 billions for funds to ACORN. This is outrageous and unforgivable in that aspect that is his Presidency. I am disappointed in some of the choices he’s made.

  68. College students have yet to feel the damaged by over taxations. So, maybe this will help him or her to make the best decision come election time. Imagine a time and place where you receive an education from liberal college where liberal professors don’t give a shit about the American public and can only think about liberal causes. Taxes, taxes and even more taxes for worthless liberal projects that spend money that helps no one. Case in point this financial mess we are in.

    The tax increases that Barack Obama wants to put into place (and there will not be any tax cuts for the middle class according to economist, he will destroy our Nation and put us it into not only a recession, but a depression if he follows through with his plans). If he or she doesn’t buy that then try the no jobs available after graduating. Increase spending and increase taxes, especially the percentage of taxes he wants to charge American companies, will not only deplete new jobs from the market place but, huge layoffs, and if Congress still refuses to drill for oil here, wholesale products and foods will increase in price and jobs will decrease or become non-existent. Great education, sorry no jobs are available especially for those who choose a popular field to study while in college. Tech stuff is popular and there will be more people applying for jobs.

    The increase in the capital gains taxes Obama wants to put into place will remove any chances of them getting a job after graduating, if we still have a thing called a stock market. You’ve got your degree and spent a lot of money in grants and student loans that the government wants back. In order to pay that back, you need a job that will not exist. So, be happy flipping burgers at McDonald’s for minimum wage, which Obama wants to increase as well, which will remove even more jobs from the marketplace. Life isn’t a gumball machine, sometimes you put your quarter and nothing comes out.

    You have to understand that Obama’s plan to get the young college age and young adults who don’t have the concept of money or taxes. I’m sure their parents complain about taxes, and most kids ignored the discussions. I did when my parents complained. It’s actually quite brilliant if it wasn’t so destructive. He’s deemed as a cool, hip guy compared to a 72 year old man. I’m sure that Sarah Palin isn’t as attractive to the young, new voters. She’s a mom with 5 kids, a hockey mom no less.

    I came out of college in the mid/late 80’s when Ronald Reagan was in office. My sister graduated during Carters administration, she tried to find a job and couldn’t so she went back to get her masters, her doctorate and then her medical degree. By the time she finished all her education we were at the end of Bill Clinton’s administration. She made great decisions to stay in school and was a diehard democrat, she saw the mess that Bill Clinton made and came to the conclusion she was wrong and became an independent.

    There are a number of books you should read and pass on to you Obama children. There are many, but Newt Gingrich’s new books Real Change is awesome and could help young adults understand the free spending principals have consequences, as his Drill here, Drill now book which recently was released. A book on Obama’s policies and the damage they will do to the economy read and pass on Dick Morris’s book Fleeced. Excellent book and he was a former liberal. What you’ll read will make you sick to your stomach. If you want understanding about the secular-progressive moment, Bill O’Reilly’s book “Culture Warrior” is great. Also informative is Laura Ingraham’s book “We the People” who was just released in paperback but her book also points out the left’s crazy ideas about taxed, education and their attack on religion. I own almost all of them, and used my public library to read them, after reading them, I went out and purchased them, they were that good. Good luck in trying to turn a Obamaniac into smart voter.

  69. Larry,

    What I meant by my comment of raising the FDIC limit is that anybody that’s got more than $100,000 in savings is certainly intelligent, and should certainly have enough sense to know to split it up between different banks, different accounts, etc.. And besides that, most credidable bankers will tell you that. Most creditable brokers will also inform you of that. I didn’t mean that the FDIC is not a good thing. My point was, it’s just another chest-thumping thing for the democrats to try and gloss over when they start picking our pocket that will happen, if this bill is passed.

    I think I hears or read something that it’s only for a year anyway. Maybe I heard wrong.

  70. Why doesn’t someone ask that FAT BITCH Barbara Walters (waddling penquin) which, SPECIFICALLY WHICH, loophole is the Racist Hussein going to close that is going to raise the TRILLIONS of dollars that fricken IDIOT has promised the WORLD!

    SPECIFICALLY! BITCH! Which “loophole” is going to make the magic fairy dust fall from heaven and make everything perfect???

    Where’s a nutbag with a scope when you need one??

  71. Coming to place near you, …. a lawyer.

    Stay tuned — I got a big one to be posted sonner than you would prefer but later to do anything about it. Just smile.

  72. A Democrat Liberal (read Communist) president AND the prospect of a supermajority! No need for a bail out, the plug has nearly been pulled, all I am waiting for is the gurgling sound as the whole country goes down the drain………..

  73. Snapshot to this next morning, they did it. The Senate passed (noo shock) their own new and improved version of the” Chris Dodd/Barney Frank” Save Face Bill. As with every single Bill that the American People get saddled with, “It’s not perfect but it is the best we could come up with” we were explained to by Harry Reid. Noooo, really? I think we all knew it wasn’t perfect Harry, this Senate/Congress on its best day isn’t capable of even writing anything palatable! Then…I was highly insulted…

    I thought Reid was going to break down in tears in his announcement in his **** stroking of Chris Dodd and other members of the Senate congratulating themselves and patting themselves on the back for doing such a wonderful job…I almost threw up then almost kicked my TV screen in.What he SHOULD have been saying in his misty eyed blather was…”Hey… American People….We DEEPLY APOLOGISE for failing miserably to protect you, protect your life savings, ruining the security and possibly ruining this Country and opening up our financial stability to absolute ruin while trying to buy votes by giving away the farm in our typical attempts at Socialism and Liberal Social Engineering! ”

    But alas, no, their true colors shown through like always. They had to actually work a few full workdays. They were very proud of themselves….we should bow down in humility and honor to them that they did this heroic and life saving effort for us, the Serf’s of the Realm…

    Washington DC needs an enema!

  74. Stitch,

    Of the utmost importance relative to your comment is that that tax increase started life as a tax upon the “richest Americans”, $250,000 or more.

    It ended up at $25,000..

    Feel rich? It very well may be coming to a theatre near you…

    Thanks my friend,

    Larry

  75. Eileen,

    Those weren’t great comments..

    Those were great articles!

    Excellent posts!

    Thanks for your contributions to NLTZ.

    Larry

  76. Sister Amy,

    “American” Al Gore tried his level best to eliminate your votes in 2000.

    Obama will try to do the same I fear.

    Constitutional rights only apply to those who “vote correctly” in liberal land.

    For example: the “right” to vote for your long dead uncle Rufus, a staple of inner city poilitcs known as the “Cemetary Vote”..

    God bless us all…

    Larry

  77. orvill,

    A year may be being too generous..

    It might ALL end up being moot on inaguration day if the Socialists steal the election.

    Start praying..

    Larry

  78. John W.

    With the way the Obamazombies think, they will TRULY be “throwing the baby out with the bathwater..”

    Tell the world.

    Thanks as always,

    Larry

  79. James,

    How about this: Vice Presidentail debate, St. Louis;

    Voice over to Sarah Palin: “Senator Biden, you have had the pleasure of lording over the Senate for over thirty years and in that time, and more importantly, since 2006, you and your commrades have held the exclusive reigns of power in both the Senate and the House. With all of that “experience” and foresight, the party in power, your party, the Democrats, did NOTHING to avert this impending crisis.

    With that being said, how would electing a president with 143 days of experience be of a positive benefit for this nation desperately in need of affective leadership?”

    Wouldn’t that be a gas!!

    Thanks as always,

    Larry

  80. Was Obama really a Communist Organizer?
    or did I just hear that wrong???

    heh hehh hehhhh

  81. Larry,

    I’ve heard that there is another bailout bill up and despite different appearances it is essentially the same as the first one. Heard anything?

    I had noticed in the days preceding and after the threatened bailout, alternate theories other than the one the esteemed “leadership” in Washington finally proposed.

    Having read newspaper, magazine and internet articles and seen programs of interest on TV, I found somewhat conceding ideas of alternatives that could be easily hammered into a concurring compatibility with one another. These plans were relatively simple and did NOT COST 700 BILLION DOLLARS.
    These plans layed out not only solutions for the current economic crisis, but also solutions for future legisation to prevent this from happening again. My personal solution would be to keep moronic liberals out of the White House and Congress but, afterall, this is America… for now.

    Larry, or NLTZ in general, wouldn’t allow my language here in expressing my outrage at those no account son-of-a-bitchs (excuse me) in Washington. Over 400 hundred of those bastards (again) are sitting there of their fat ass’ and not one of them can come up with a plan other than to throw our money away to the banks that sponsored low life ingrates that didn’t deserve a loan or a house in the first place. Over 400 of these brilliant elected dipshits!!! I’m tellin’ you folks, I think that gene pool need a little chlorine.

    If you can’t get your big congressional butt out of the chair, throw money at the problem… that is our government of today. Problem is it’s your’s and my money. I don’t understand why anyone in that Congress didn’t, since they obviously all failed math in school, contact a scholar of economics, an accountant or even first grader who could add 2 + 2=4 in helping them understand 700 billion is a lot of money.

    Make no mistake about it, the Black subversive
    group of ACORN is definitely involved. The money that was to be supposedly coming back into the trust fund to re-pay taxpayers was already earmarked as to be partly funneled towards this group. A group devoted towards seeing the bankruptcy of capitalism. Why is it that people are trying to elect Obama, a man who has a long and close history with the group?

    Wouldn’t it be interesting if we just all quit paying taxes? I mean, what could they do put us all in prison? I don’t think so. One way to shrink the size of government!
    Always remember it is we who hold the strings to their moneybag.

  82. Stitch,

    NOTHING gets past you..

    Larry

  83. Windrider,

    First: when you have the floor you need not censor your outrage.

    Its just “compassinate conservatism”. The first amendment lives and is applicable to all.

    You are right on the “money”..

    This plan is just “The New Deal” redux, Socialism by any other name.

    How does taking money from you and I who have played by the rules going to help the federal frauds (Fannie and Freddie) to learn any kind of a lesson?

    Properly worded “laws” could help put this scandal to bed. The lawyers in Washington have now decided that they are better “accountants” so they spend most of their time spending our money.

    Change the policies, punish the abusers and the rest will work.

    Many notable economists have said that the New Deal LENGTHENED the depression by three or more YEARS.

    Can we stand three more years of this when the Democrats place the blame for this upon John McCain?

    Tell the world.

    Thanks as always,

    Larry

  84. Larry,

    Thanks for the ‘freedom of speech’ but the language I had in mind was best kept in check if nothing else as a courtesy to you and the ‘family.’

    I’ve found that after the Paulson bailout bill was defeated, good ‘ol Pinhead Pelosi gave a strong partisan speech to the house. The thinking is she hopes to reload in the ‘new’ bill the many liberal porks that John McCain, for one, was instrumental in stripping from the Paulson bill.

    Among other things I believe there should be a RESPONSIBLE, commission that would LEND money only to lending institutions and banks who are able to PROOVE THEIR NEED in credit financial problems not, as the government intends, to become the biggest mortgage holder in history. The money, from the taxpayer, would be extended to the institution in trouble as line of credit. Allowing it the funds to restore credit markets.

  85. Oops. Didn’t get quite all done there.

    As I was saying, it just makes more sense to extend the proper institutions a line of credit and let them work it out themselves rather than buying up all their bad papers.

  86. Great again Larry, I do and I think most people who participate on your site appreciate you letting our voices and opinions be heard. So thank you so much for giving us this platform. Everyone here has great insight to the damage that will occur if Obama steals this election. He won’t go away quietly.

    Liberals seems to be more like five years old when they lose. If you don’t elect me I’ll hold my breath until you let me be your President. I’ll call you when it’s time breath again. When’s the next election? Democrats this time will more likely cheat in order to get what they want, which is total control, I won’t expect anything else.

    The Democrats here have committed voter fraud during the primary election and will continue to commit voter fraud for the National election and have already in some states, including my home state of Alabama. Having Judges, especially liberals ones create policy in order for the Democrats to take over the entire government, is so wrong and hope that the conservative in Ohio take this to the Supreme Court. The one thing that benefits conservatives is that liberals, in addition to being liars, and deceitful manipulators, they are also stupid. Which is how they got caught here in Alabama? When you have only 10,000 registered voters in a County and there are 14,000 votes counted it not only looks bad, it also shows how stupid you look. Another person who got a great education from the state.

    Our Attorney General, Troy Kings is handling it all very well. He had tons of investigators and they that caught them and are now spending time behind bars a number of years. The thing is the people who were caught are the same who monitored the elections results and were bureaucratic officials. Which is a huge concern for me and should be for everyone else? But, the fraud was isolated to three Counties, mostly black in the northern part of the State. I am not making racist comments; this is the truth, and the elected officials who were investigated, charged ad convicted were also black. I am almost positive that ACORN had their dirty hands in this mess.

    Many conservatives in our state pray that Troy King runs to Governor once Bob Riley leaves office. He has said he will post police or Alabama investigators to watch over the polling results in 9 counties that were under investigation of voter fraud but didn’t have enough evidence to charge and convict them. I applaud him for trying to keep things honest.

  87. Larry, and to all “family of NLTZ”,

    I urge you with utmost importance to google PENNY PRITZKER.

    She and her family, of Hyatt Hotels distinction, were central to the subprime loans innovation, part of the very ‘bailout’ effect we’re facing today.

    Plus she is Hussein Obama’s campaign financial chairwoman… yeh, there’s a little conflict there.

    Please, friends, read up on this and protest if they try to rip us off!!!

  88. JR of MEDWAY MA

    EILEEN
    I HAVE ALL OF THOSE BOOKS IN MY OFFICE AT HOME
    SMART PEOPLE READ GOOD BOOKS
    JR

  89. On the VP Debate:

    I don’t care what the vipers in the MSM say, Sarah Palin stuck it to Joe Biden!!! She scolded him like a mother scolding her son. It was priceless. She called him to the carpet — especially on Fannie and Freddie. Joe Biden tried to give Oshama the credit, but Sarah wasn’t buying it. Whatever reservations anyone had, they ought to be cleared up now. I hope and pray that this debate has re-energised the base, and that anyone who has been considering not voting for John McCain will change their mind.

    Also, I agree with Eileen on the bailout and John McCain’s position. John is walking a very thin line. It is quite possible that doing nothing may be worse than doing something. I think that everyone’s main concern at the moment is avoiding a credit freeze. As Sarah mentioned last night, if credit freezes, the economy grinds to a halt — and that is far worse than giving a tax break to a toy wooden arrow manufacturer. Although I am furious over the insertion of pork, as I’m sure John McCain is too, I also understand that one needs to pick their battles. Even though McCain voted for the bill, I know damn well that he sponsored NONE of the pork barrel amendments. I also understand that there are many other, less costly, alternatives to the bill that the Senate passed. Why those were not in the bill instead, God only knows. We can speculate that it was partisanship, stupidity, a rush to do ANYTHING, etc., etc.,. Most of these plans were proposed by people with little or no power or pull in Congress — that’s the problem. I may have gained a little more respect for McCain and Rep. Boehner, now that I have calmed down and thought this whole mess through rationally.

    Last night, Lou Dobbs, in a CNN interview with Wolf Blitzer, excoriated Wolf Blitzer, CNN, and the rest of the MSM on their treatment of Sarah Palin. He pretty much told them that they would never treat a Democrat the way they treat her. It damn near moved me to tears. It’s great when someone has the balls to stand up to the MSM and call them to the carpet — on their turf.

  90. JR of MEDWAY MA

    AMY D
    YOU GO GIRL
    i LIKE YOUR COMMENTS.
    THE DOWN HOME STYLE OF SARAH PALIN IS REFRESHING
    I am through arguing with liberals especially in the State of TAXACHUSETTS
    Our no 1 question on the ballot in novenber Ask us to vote on eliminating
    our state income tax, last time 45%
    voted for it. I hope we pass it this time to eliminate 40% of our revenue so the greedy pols can not spend it
    They are using the usual tactics that it will destroy our schools etc.

  91. Alabama Redneck

    Larry. Know you monitor everything. Just received this and it expains a lot of why the Dems need Repub support and the haste they say is needed for this stinker of a bill. Check out the link and if you agree, forward to all you can, please.

  92. I agree! I think the new kid on the block but not underqualified and vastly under-rated, Sarah Palin did a number on the tenured, plug headed, saggy assed old Joe Biden and kicked his ever lovin’ butt.

    Though due to that tenure, Biden did make a few more political points than Palin but he also told some falsehoods too. Whether it was Palin’s inexperience or that she was wanting to press other issues, she did not counter the Biden points.

    AMY D.,

    Removing pork barrel expenditures is exactly what John McCain went to and was doing in Washington when he “suspended” his campaign. While Hotdog Hussein was claiming ‘he doen’t want to debate me’, McCain was stripping the liberals pork such as the automakers boost, for one. Once these were out off of the bailout, he voted for it but it now being defeated the lunatics of the left are busy trying to re-install the same pork barrel strings on the “new” bailout. I DISAGREE that it was a stupidity (in part) or a rush to do anything. It matters not whether the less costly plans were proposed by those with “little power or pull” in Congress. The knowledge of these plans was there and could have been gleaned by those who are in “power” or have the “pull.” WHY HAVEN’T THEY? The plans are still there yet we are still facing an old “new” bailout. Clearly, the fact remains we can only place the blame of pure un-adulterated IGNORANCE on the Democrats and Republicans in Washington who had taken an oath to represent our best interests. Keep a hold of your computer, Amy.

  93. JR,

    Thanks for the accolades. I call it as I see it.

    Wind,

    I don’t think the rush to craft legislation was stupidity, either. I was just throwing that out there as a potential argument as to why alternatives weren’t considered. I will NEVER surrender my computer. Nor will I keep my trap shut.

  94. BREAKING NEWS:

    The bailout passed the House 263-171, and will be forwarded to the White House for the President’s signature.

  95. The market has responded to the passage of the bailout by DROPPING!!! How this will ease the financial markets is beyond me. Congress may be kicking itself in the ass Monday. We shall see.

  96. AMY D.,

    Believe me, I enjoy your comments and was referring to you computer only, not your “trap.” It’s possible that you and I, suffering from the dreaded differences of the chromesomes, have oblique angles in the same agreeable solution.

    Hell, don’t hold me responsible for too much of what I say Ms. Amy, I ain’t all the way grow’d up yet…

  97. UPDATE:

    Bush signed the bailout into law. The market responded by closing at -157.47. That’s a LOSS of 157.47 points. If what SanFranStupid & Co. say is true, that the markets will take time to recover, then today’s closing should be taken with a grain of salt. I, however, see it a little differently. In the immediate short-term, this legislation has done NOTHING to calm the market. The dollar was wildly fluctuating against the euro — by almost a penny up or down per minute (the fluctuations have slowed down and the dollar has gained ground, though). Oil fell 77 cents to close at $93.20 (the other bright spot). The Dow was falling as the House was voting. If Monday was any indicator, the Dow should have RISEN in response to anticipation of the bill being passed, and should have shot up, when it did pass. I don’t want to see the credit market freeze up, because like it or not, our economy depends on credit, from the smallest mom-and-pop to the largest corporation.

  98. Wind,

    I know you weren’t talking about my trap. I just added that as sort of a “I will never surrender” type comment. No love lost 🙂

  99. McPalin

    Hopefully that sassy chick showed McCain’t how to let the ol’ sack hang.
    Now maybe McCain’t will go after junior at their next meeting.

    nuf sed…

  100. STITCH,

    nuf sed, right thing said. What the hell, does McCain want the presidency or weakly expressing his patriotism! He should leave no doubt as to who the American is and the Socialist is in this next debate. To hell with diplomacy. Attack!!

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