Money Beat

Where has he been? Sleeping like the others in this democratic do nothing congress?

Yeah, it was the Democrats fault for the past 18 months when they were in control of Congress. Let's not even look at the previous twelve years of Republican control of Congress or the last eight years in the whitehouse.

OBAMA IN WALL STREET MESS UP TO HIS NECK

Read all about it!

http://noquarterusa.net/blog/2008/09/16/obamas-finance-chair-failed-bank-owner-penny-pritzker-and-todays-wall-street-problem/

This is all show for the public and wont end up resolving anything or leading to any criminal charges. These congressional hearings never do.

OBAMA IN WALL STREET MESS UP TO HIS NECK

Read all about it!

http://noquarterusa.net/blog/2008/09/16/obamas-finance-chair-failed-bank-owner-penny-pritzker-and-todays-wall-street-problem/

In retrospective of what is going on in Wall Street, you know what the difference between a sound investment bank and a failing one is,lipstick.

All these CEO's should be in jail; not in front of Congress. 10 years ago I used to say there was no need for unions anylonger, they had run their course. Now seeing these corporate pigs raking in millions while the workers suffer makes me rethink that concept. These CEOs wouldn't make a red cent if it weren't for the average joe working his butt off every day where the tire hits the road. These CEOs probably have huge boats and vacation homes while their average worker doesn't have time to rent a kyak on the weekends. Send em all to jail (or Hell)........ ;-)

You are right, "Ken." These hearings are just for show, to appease the public.

Congress is always a day late and a dollar short. They always show up to investigate after the fact when things are in ruin. If you are, and have been, financially sound for the last 8 years, then by all means vote for McCain and Palin.

Congress doesn't have any authority to give judgment or level punishments, do they? That's for the courts to do. Why does Congress hold these hearings anyway?

Waxman is the consummate partisan. He should start in order. Have a hearing on the Freddie and Fannie collapse. There is a scandal of enourmous proportions there. But it would implicate his fellow Democrats and Democrat appointees at every level. So let's just skip that and his friends in the press will give a free pass. Read this and weep. http://article.nationalreview.com/?q=NDA4YTY1N2ZhMDhmNjIwNTk4OTI2MDYxZWU4NDg1Y2Q

It's about time this do-nothing congress does something. The problems with Freddie and Fannie have reared their ugly little heads on the democrat's watch over the past two years. Where has congress been? Interesting that Senator Dodd is number one for receiving money from them. Senator Obama is number two on the money list. Why hasn't that been made public by the media? I wonder. We're all paying because democrats believe it is everyone's right to own a home, whether they can afford it or not. I disagree. By the way, Senator McCain has been one of the lone voices over the past several years raising the alarm He gets it. Senator Obama still does not.

All of CON Gress is to blame.

Blame equals La Guillotine - - -

As usual, a few at the top walk away with 8-figure separation packages while the workers are pushed out to the street. Taxpayers will pay untold millions to rectify this mess. 1) Our founding fathers (and my frugal grandfather) are rolling in their graves and 2) our kids (and this frugal, home OWNING taxpayer) are in a world of hurt.

Closing the barn after the horse left. The government increasingly run on reactive basis rather than proactive

Let me repeat to those Republicans in here who don't understand their government and how it works. The recession occurred over seven and half years "during" the Bush administration with the first four years being controlled by a Republican legislature followed by three and half more years of Republican delays, filibustering, and threats of Bush vetoes. The Democrats have never had enough of a majority to override the Republican filibusters nor the threatened Bush vetoes. During Bush's first four years (2003-2004) with a Republican controlled congress he signed 1091 bills and vetoed NONE. From 2006 to the present Bush has vetoes more the eight times if Congress was able to even get the bill to him despite Republican filibustering and delays. And, in addition, these vetoed bills would not have reached his desk with out some Republican support. You tell me why are Democratic congress has not been able to prevent the issues we are seeing today. "Obama 08!" and a Democrat controlled legislature.

Let me repeat to those Republicans in here who don't understand their government and how it works. The recession occurred over seven and half years "during" the Bush administration with the first four years being controlled by a Republican legislature followed by three and half more years of Republican delays, filibustering, and threats of Bush vetoes. The Democrats have never had enough of a majority to override the Republican filibusters nor the threatened Bush vetoes. During Bush's first four years (2003-2004) with a Republican controlled congress he signed 1091 bills and vetoed NONE. From 2006 to the present Bush has vetoed more the eight times even when Congress was able to get the bill to him despite Republican filibustering and delays. And, in addition, these vetoed bills would not have reached his desk without some Republican support. You tell me why our Democratic congress has not been able to prevent the issues we are seeing today. "Obama 08!" and a Democrat controlled legislature.

Henry Waxman could use some lipstick per Obama's cliche

Bush proposed regulation 30 months ago. The democratic congress wouldn't even think of it. This congress should be run out of town on a rail! Worthless! Absolutely worthless!

Reply to dl at 6:52pm...
30 months ago, Republicans controlled the White House, the Senate & the House and had for years!! We are all fed up with lies and misrepresentations. You should be run out of the comments on a bridge to nowhere.

O-Bots claim Barack is different but cannot name a single reason why that is so. Hype and promises without substance is the diet of fools.

dl...Obama wants to repeal the Bush tax cuts, which merely benefit the rich who do not apply the trickle down theory. They just keep the $. He is against outsourcing, which is another way corporations have let down our country and given away our jobs. He will help us restore relations with the UN and other allies. He is a highly educated and intelligent man who graduated at the top of his class and was President of the Harvardd law review. He could've taken a cushy job then, but choose instead to help people. This Country needs more than McCain who was 5th from the bottom of his class at the Naval Academy and doesn't know basic computer skills. I wouldn't hire him to run my company, let alone my Country. I hope you are enlightened.

We have BEEN through this before, right after the ENRON debacle...

This is a broken record...really.

Sarah Mooseburger will come riding in to New York from Wasilla to round up those rascals on Wall Street on her snowmobile. After she takes care of Putin, that is.

Decomcratic do nothing Congress...Senate - 49 Democrats, 49 Republicans, Bernie Sanders, and LIEberman. 60 votes needed to be veto proof. Seems like a do nothing Republican Congress when you factor in LIEberman campaigning for Republicans, and Bernie Sanders walking around in a perpetual daze. House - 233 Democrats, 202 Republicans. 326 needed to pass a Bill. So, research or spew O'Hannity, and Hush Bimbo talking points if you must.

Xtra...that's not the same noquarter that Larry C. Johnson (fraud)"promised" a Michelle whitey tape...is it? Can't be the same noquarter with SusanUnPC (hack) that clamored for the PUMA movement that never materialized...can it? Please, that's pathetic!!!

Where has he been? Sleeping like the others in this democratic do nothing congress?

Posted by: dl
*********************
This has been brewing for a couple years.
I could use the same lame excuse with the Dot Com
scenario, where the Republicans held majority
during the last years of Clintons tenure.

You are right, "Ken." These hearings are just for show, to appease the public.

Posted by: Lisa Again
*************
They probably all have the same script.
That's why they are waiting this long to have
them. They have to iron out the excuses to
make them match.
Put them all in jail!

Waxman is the last person I want to examine a commerical concern. He has shown himself to be more interested in the pony show than in the solutions.

Hey rethugs- although the sky is really blue - keep saying its purple - eventually you will get some people to adopt your position/color. Jerk_ffs

For you folks who skipped civics class in high school - the majority party appoints the chairman of the committes who then decide on what to investigate. the rethugs were the majority during the first 6 years of Bush's presidency and investigate squat. Oh by the way what happen to Rove, Gonzo, and VonRunsfeld when the DEMS took control of Congress

Its a little late to call the fire department the house has burned down but this lets congress hold more late witch hunts. Why don't they investigate themselves first and their failures to do their jobs.Talk about benefits how about those congressional health plans.

yet another congressional hearing, and probably some watered down bill after it goes thru the ringers. what all of this mess amounnts to is the nationalization of the icons of capitalism, which is not a good thing. i think Capitalism 1.0, where companies can get bigger and bigger at increasing risk to the economy, is over. Capitalism 2.0 should call for the busting up of large companies in key industries into smaller ones that have no more than a 5% share of the market at any given time. if a company exceeds that, it should be placed on an "industry threat" alert list, and if it hits 10%, it should be automatically forced to break up. that will keep large monster financial firms in check, and keep them from holding the economy hostage like we're seeing now. what we are seeing amounts to "financial terrorism" like 9/11...

Greed! Greeed! Greed! They have to look like they are doing something in order to be re-elected. I say institute term limits and no more party names. (scrap republican and democratic names) and label all candidates the "stupid" party.
It's because we elect the idiots of the world to run our country, blame yourselves not the parties.
Let's institute income level voting and eliminate lobbying activities.
This way if a canidate wants to be elected he needs direct donations from individuals only and limit them to $5,000.00 per person.

how come thei get such a high bonuses ? and now dont put money on the table

Congress has authority over financial and budgetary matters, For the past 2 years that Democrats
have been leading the Congress. Things have been sour and the financial woes are
getting worse, simply Democrat Nancy Pelosi and Democrat Harry Reid were sleeping at the switch
and taking vacations while the rest of the country is financially going down the drain.
Last spring Nancy Pelosi forced congress in vacation and let the national security bill
expire risking our national security and last summer vacation Nancy Pelosi with out fail took a vacation while americans
where paying $4/gallon of gas. This is your Typical Liberal Democrat way of doing things
in Washington and this is the CHANGE that Obama wants, mind you these are Obama's friends
who think alike and do things alike.

FREE MONEY TO ALL MY FRIENDS !!!

The Root of the issue starts with Fractional Reserve Banking and Fiat Monetary Policy and is accelerated with Financial Engineering. This System Always Ends The Same. Economic Collapse And The Consolidation Of Wealth And Power.

When You Can Create Money Out Of Thin Air You Can Buy Governments.

This Is Not A Repub VS Dem issue; To Phrase It As Such Is To Hide The True Nature And Mislead The Masses.

There Will Be No Investigation Into How We Came To This Point Because Both Parties Of Power Have Colluded Against The Public. They Are One – The Money Party.

Case In Point:

From Bill Moyer’s Journal Sept 12 2008 Citing A New York Times Article By Jackie Calmes:

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Both Barack Obama and John McCain say the Fannie and Freddie mess is the result of the cozy ties between lobbyists and politicians, the very thing they will "change" if elected. But guess what? Neither one of them has ever had, quote, "A record of directly challenging the companies."

To the contrary, Obama is second among members of Congress in donations from Fannie Mae and Freddie Mac's employees and political action committees, even though he's only been in the Senate since 2005. The former chairman of Fannie Mae originally led Obama's vice presidential search committee but had to step down in a controversy over favorable loans he received, while at Fannie, from a company doing business with Fannie.

Among Obama's contributors are three directors and one senior vice president of the two companies. Furthermore, Obama's fellow Democrats in Congress have long been enablers of both corporations.

And what about John McCain? His entire campaign team stepped right out of a predator's ball. His confidante and top adviser lobbied several years for Freddie Mac. His deputy fundraiser lobbied Fannie Mae, and his campaign manager lobbied for both of them, leading a coalition of beltway insiders whose goal was to "stave off regulations" that might have short circuited this nightmare.

One wealthy member of Freddie Mac's board has contributed more than $70,000 to McCain and Republican Party members working for McCain's election.

Even the guy who vetted John McCain's vice presidential options is a former lobbyist for Fannie Mae.

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Things Are More Dire Than Many Would Like To Face. Safety Is A Function Of Awareness.

Another “Fox Guarding The Hen House” Anomaly From the article http://www.atimes.com/atimes/Global_Economy/JI18Dj01.html :

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Fixated as I am on inflation in prices because it scares The Living Hell (TLH) out of me, I was drawn to how Peter Schiff of Euro Pacific Capital was amused that the government and its minions have reported that "the GDP deflator, used in the report to downwardly adjust GDP to account for inflation, was shown at just 1.2% annualized ... the lowest deflator in 10 years", while at the same time "the latest reading on consumer prices (CPI) in the second quarter shows year-on-year inflation running at a 5.6% rate, a seventeen-year high!"

He asks, without the slightest hint of the venomous sarcasm you would expect, "How can it be that inflation is simultaneously running at a 17-year high and a 10-year low? Welcome to the Alice in Wonderland world of government statistics."

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Doom Approaches.

When The Election Is Over And Power Seated The Financial Circus Will Reach New Heights. Do Not Be Lulled Into Believing The Scapegoat Scenarios. The Problem Is Endemic In The System. The Complexity Of Corruption Is Vast.

Wish More People Would Have Debated Ron Paul Rather Than Dismissed Him. Debate Is The Distillation Of Reality.

Anyone Advocating A Return Toward The Constitution Is An Ally. If The Constitution Was Followed The Scenario We Are In Would Be Less Likely.

The Circus Continues But The Bread Is Almost Gone.

yes probably but doom or not doom elections are important.

Dana

I agree with you.
May be they working together?

Fixated as I am on inflation in prices because it scares The Living Hell (TLH) out of me, I was drawn to how Peter Schiff of Euro Pacific Capital was amused that the government and its minions have reported that "the GDP deflator, used in the report to downwardly adjust GDP to account for inflation, was shown at just 1.2% annualized ... the lowest deflator in 10 years", while at the same time "the latest reading on consumer prices (CPI) in the second quarter shows year-on-year inflation running at a 5.6% rate, a seventeen-year high!"

Both Barack Obama and John McCain say the Fannie and Freddie mess is the result of the cozy ties between lobbyists and politicians, the very thing they will "change" if elected. But guess what? Neither one of them has ever had, quote, "A record of directly challenging the companies."

To the contrary, Obama is second among members of Congress in donations from Fannie Mae and Freddie Mac's employees and political action committees, even though he's only been in the Senate since 2005. The former chairman of Fannie Mae originally led Obama's vice presidential search committee but had to step down in a controversy over favorable loans he received, while at Fannie, from a company doing business with Fannie.

Among Obama's contributors are three directors and one senior vice president of the two companies. Furthermore, Obama's fellow Democrats in Congress have long been enablers of both corporations.

Is there no end to bold-faced arrogance and unbridled avarice of thousands of greedy little kings of wealth concentration, their bought-and-paid-for politicians, their many minions in the mass media?

Somehow the human family has got to find more effective ways of communicating about global threats to environmental health and impending dangers to human wellbeing that are being perpetrated before our eyes by the self-proclaimed “Masters of the Universe” among us. Good people with ‘feet of clay’ are not saying loudly, clearly and often enough what they know to be true….not speaking truth to power.

Politicians are posing for the public and pandering to those with great wealth; investment brokers are devising pyramid schemes, skimming millions for themselves and “breaking” the central banking system of the human community; and the mass media is turning a blind eye to the entire mess.

Such woefully inadequate examples of leadership by many too many “Masters of the Universe” need to be named, shamed and replaced.

The family of humanity could soon, very soon, be confronted with an economic and/or ecological wreckage of an unimaginable kind; but, because good people are not reasonably and sensibly communicating with one another about the outrageous behavior of the rich and powerful, the chances for taking the measure of certain ominously looming global challenges and finding adequate solutions to them are diminishing day by day.

Steven Earl Salmony
AWAREness Campaign on The Human Population, established 2001
http://sustainabilitysoutheast.org/index.php

"Loan Titans Paid McCain Adviser Nearly $2 Million

Senator John McCain’s campaign manager was paid more than $30,000 a month for five years as president of an advocacy group set up by the mortgage giants Fannie Mae and Freddie Mac to defend them against stricter regulations, current and former officials say.

Mr. McCain, the Republican candidate for president, has recently begun campaigning as a critic of the two companies and the lobbying army that helped them evade greater regulation as they began buying riskier mortgages with implicit federal backing. He and his Democratic rival, Senator Barack Obama, have donors and advisers who are tied to the companies.

But last week the McCain campaign stepped up a running battle of guilt by association when it began broadcasting commercials trying to link Mr. Obama directly to the government bailout of the mortgage giants this month by charging that he takes advice from Fannie Mae’s former chief executive, Franklin Raines, an assertion both Mr. Raines and the Obama campaign dispute.

Incensed by the advertisements, several current and former executives of the companies came forward to discuss the role that Rick Davis, Mr. McCain’s campaign manager and longtime adviser, played in helping Fannie Mae and Freddie Mac beat back regulatory challenges when he served as president of their advocacy group, the Homeownership Alliance, formed in the summer of 2000. Some who came forward were Democrats, but Republicans, speaking on the condition of anonymity, confirmed their descriptions."

SEE: http://www.nytimes.com/2008/09/22/us/politics/22mccain.html?_r#1&adxnnl#1&oref#slogin&ref#us&adxnnlx#1222103488-5de8RfsUDRInL0G4at2vFw