The classy move on the part of the White House to give Fannie and Freddie an unlimited slush fund and dump the news on Christmas Eve is drawing rave reviews as finance bloggers get back to work.
So. Let us summarize:
We do not expect the GSE’s to grow their portfolios at all, so we are fixing the bloated portfolio problem by easing the portfolio caps to permit a quarter trillion dollar expansion thereof.
We do not expect either of the GSEs to need more help from the Treasury, so we are responding to the underutilized $400 billion “lifeline” the GSE’s have with the Treasury ($111 of which is currently used) by expanding it to… infinity.
Oh, and though they have collectively lost nearly $200 billion, we are paying the CEOs around $6 million each.
Great work team! It’s already almost 11:00. Let’s go to lunch.
The issue for Democrats and members of the American Left raised by this article in The Nation is why does Barack Obama allow this situation to continue one day longer? The continuance of Dugan at OCC and Treasury Secretary Tim Geithner at Treasury illustrates how feeble the White House remains when it comes to financial services policy.
Or maybe the problem is one of conflict. Like Larry Summer’s derivatives toxic waste dump inside Harvard’s endowment fund?
And let’s not forget Rahm Emmanuel’s proud legacy as a director of Freddie Mac.
Maybe the Obama White House just can’t go there when it comes to financial anything.
When will Mr Geithner and his colleagues learn that there are no secrets and that transparency and explanation is much better than release of details in the middle of the night. Probably never but there are some of us who will leave our holiday time for a few minutes and keep reminding them. We are scheduled to remind them again on CNBC Closing Bell at 4:30 PM on Monday. CNBC Squawk Box Asia and on CNBC Power Lunch on December 30.
We are getting very used to watching the federal government operate with only the sketchiest information on what it is doing. Most everything seems to be done behind doors and in secrecy. That’s what makes this brief announcement about Fannie Mae and Freddie Mac so troublesome. When the federal government starts talking about unlimited guaranties to cover future losses, our biggest worry ought to be that whatever large number we can contemplate is included under the word “unlimited”, the government has an even larger number in mind.
Notice also how they’ve made an unlimited commitment without consulting Congress. You only need Congressional approval to spend money on wars and healthcare, when it comes to bailing out banks, apparently the Presidency controls the power of the purse all by itself.
And still no independent auditor for Fannie/Freddie in sight.
But you want health care reform?
Ha! 60 votes.




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Who knew so many finance bloggers were racists? Because, as you know Jane, anyone who wants accountability for the entities being blamed by right-wingers for the financial meltdown is accused of being a racist.
It starting to look like
1) the major financial institutions completely get that the system is unsustainable and a reckoning is inevitable
and therefore
2) the institutions, the president, and congress are colluding, returning periodically to the money trough until either the trough is completely emptied (after which they hope to make a clean getaway) or a mass popular angry uprising brings the gluttony to a (possibly violent) halt.
They apparently didn’t get the memo — Thou Shalt Not Criticize Fannie and Freddie:
http://firedoglake.com/2009/12/24/so-you-want-to-defend-rahm-on-fanniefreddie/
CCHHANGE..Where the hell is all this $$$ coming from? China’s taxpayers?
Jane thanks for all you do..you are a treasure.
Happy Holiday season to all!
“Where the hell is all this $$$ coming from? ” ; it only exists because of the Fed and such existence is more charade than fact.
And it’s actually the savings of chinese, not taxes; remember, there is NO national health system in China(along with there being many other ‘no things’)
Huh?!?
I say again: Huh?!?
Judging by other financial blogs – the wheels fall off of the Fed/Treasury model for funding the “stick the taxpayers with the bill” phony recovery next year:
http://www.zerohedge.com/article/brace-impact-2010-private-demand-us-fixed-income-has-increase-elevenfold-or-else
Not good.
Now imagine the market for U.S. government paper if the White House were to let Freddie and Fannie fail. Then, certainly, no one would touch it.
Well, actually, if you read this link:
http://www.zerohedge.com/article/brace-impact-2010-private-demand-us-fixed-income-has-increase-elevenfold-or-else
and this link:
http://www.businessinsider.com/heres-the-secret-justification-for-lifting-the-bailout-caps-on-fannie-and-freddie-2009-12
and a couple other articles analyzing these latest Fed/Treasury/Fanny/Freddy moves, you’ll see that what you imagine is what’s about to happen except that we will be unable to sell US paper which will cause the Fed/Treasury/Fanny/Freddy effort to prop up home prices to fail, and THEN Fanny/Freddy goes splat.
Jane, thank you for yelling so loud that this didn’t happen completely unnoticed, I’m sick of this kleptocracy and am not willing to cede the country to it.
Ok, where is the progressive outrage about this? There certainly is libertarian outrage and ‘real’ conservative outrage.
Chris Whalen Nailed it. They have too much to lose politically. They will just keep throwing money at the problems when they think no one is looking.
hey jane, fun post
as I’ve mentioned to you before, I sure hope fox decides to go with this story, they hate fanny mae, they hate rahm, they hate obama
here is a real story with real facts, they can bring rahm down, possibly the president if they go with this story
I wonder if someone wants to get them the heads up
this is a cover up for rahm and his theivery
maybe no one SHOULD touch (buy) it.
and others, like summers, and god knows who else
I admit I don’t understand all the issues, but the government was implicitly backing Fannie and Freddie anyway, so why not make it explicit? I agree that Obama administration is being weirdly sneaky about it however.
did you READ any of it?
the Obama puppet masters are putting the squash on the Obamabots, you can see it all over at the OKs and the huff
obamabots are probably as bad or worse then the bushbots
remember when no matter how corrupt, how much bush stole from his constituents, he could do no wrong?
the very same thing is happening across most of the liberblogs, the lake being the exception
obamabots, I never thought I would see the day from democrats but believe me they are there and they are growing
the most worrisome thing to me is the fact that even some long respected and loved members here at the lake cannot bring themselves to find anything wrong with Obama and give us a hard time for the criticism
I read the complaint, if true, scary stuff going on
Is there a way to monitor the current total and how fast the money is flowing out of Fannie & Freddie?
well, i guess when the whole thing comes crashing down, there wont be anything left to fear.
This is all tax money they’re playing with. And who paid in all that tax money? Certainly not the corporations. I think a protracted general strike might get theit attention. Maybe starting New Year’s Day.
I’m not so sure home prices won’t go up, our dollar is being so watered down I am quite surprised we are not seeing mega inflation the likes of viet nam days
Whatever (artificial) limits are placed on Fannie & Freddie’s purchasing power get reviewed every quarter until the end of the Obama first term. Every quarter, each agency’s purchasing power is increased by the amount of its losses that year. Sounds like F&F will become a mighty convenient place to park toxic moneylosing assets that the Fed needs to shed as it winds down its mortgage-based bond purchasing program.
This is corruption, plain and simple. Otherwise why do it secretly on Xmas eve just after the markets close and before the end of the year, when Congressional oversight would kick in?
Not the change I voted for, not by a long shot.
If patriotism is the last refuge of scoundrels, charges of “rascism” have become the last refuge of the incompetent
Here’s a good report to actually track what’s been spent by Fed/Treasury:
http://www.sitemason.com/files/esMlDW/bailouttallydec2009.pdf
Nomi Prins makes the report, there are more at her site. There are other sites too.
Unfortunately there are a lot of progressive blogs that are busy looking the other way while the corporate Dem establishment gives it’s blessing to a lot of anti-progressive policies.
As much as I can follow/understand these issues (I’ve been learning more than I ever wanted to know lately), the Fed/Treasury has been making a MASSIVE effort to prop up home prices.
Don’t you get it America? When Obama Rahm say bend over… you just say, how far?
We’d rather comment than read, but there is a biger picture we need to grasp and explain. This local diary is an absolute must;
Note to “Salary Czar” Feinberg: Bankers Yield Negative Returns
http://firedoglake.com/2009/12/27/note-to-salary-czar-feinberg-bankers-yield-negative-returns/
“France has just unveiled a new AGV (Automotrice Grande Vitesse) train which will travel at speeds of up to 224mph. A Japanese train that runs suspended over the tracks by magnetic levitation is even faster more than 360 miles an hour. Our fastest trains run at the rate of 54mph, still being propelled by diesel-electric engines that were developed in the 1940s.”
“Products and services are no longer the goal of business; they are merely means to profit. That reducing quality leads to greater profits quickly became evident. One fewer olive in each jar, one flimsy part in a complex device, one inefficient procedure in a manufacturing process, built-in obsolescence, built-in short product life-cycles, engineered high failure rates. The American quality standard became, “Junk”!”
People used to trade with jewels and gold. It became rather cumbersome and risky to carry around all that loot, so the bounty was kept in a third parties locked basement, and receipts for the goods were exchanged instead. This is the birth of paper money. Now, it is the American taxpayer in the basement, while our betters (or bettors) trade on the fruits of our future labors.
Bizzare
Can we painlessly inflate our way back to the underwater value of the real estate?
Huh. So the President can, by fiat and declaration:
- Begin wars
- Choose which laws, treaties, and Constitutional restrictions actually mean anything
- Decide what is and isn’t secret
- Allocate infinite amounts of money at whim (unless it’s for health care, in which case deficit neutrality is a must)
Sure as hell sounds like an elected total dictatorship to me. Except when it’s convenient to claim the need for 60 Senate votes, the ever handy excuse when the serfs need to be told they can’t have something.
These points should be raised incessantly, by all who can, at all times in public fora.
It benefits the banks. They won’t lose nearly as much money that way.
In order to mitigate the impact of job loss on the population the first obvious thing the government would do is shut down the H1B1 visa program.
Wonder how that’s doing, since said act would also cut into corporate bottom line and hurt the capital gains hungry stockholder class?
Who is stealing what exactly? And what teh fuck does any of this have to do with Rahm Emanuel? The idea that the government is making its implicit guarantee of the GSEs explicit to cover up for something Emanuel is supposed to have done some years ago is just crazy.
Gordon Ginsberg at 6, look, I know you feel you have to toe the demented party line here, but that is exactly what it is. Are you really struggling to understand that that is in plain words what the government is doing?
This is what we call here in Australia a beatup. There’s very little in this but it is vaguely connected to Emanuel, so you’re pumping it as hard as you can. Yeah, they buried it by announcing it at Christmas. That’s a bit naughty. Yeah, the numbers seem alarming (but the GSEs were understood to be backed by the full faith and credit of the US anyway, so all this is doing is expressing to investors that that understanding was correct — it doesn’t mean anyone is getting billions of dollars any time soon). Yeah, they circumvented Congress (but can you blame them? Did you not notice that the Senate is full of idiots who think that you should be cutting the deficit and torpedoing your economy). You’re in the shit right now. I think that’s it easy to lose sight of how much shit when you are sitting in your comfy blogging chair, contemplating your next appearance in the media, but it’s plenty of shit. You have to swim out of it or you’ll drown in it. You can debate the tactics, but Obama is more or less stuck with the strategy.
And jeezus, do you really prefer that real estate just be permitted to crash? You think that will help working people? I guess you do prefer it, given that it would severely embarrass Obama and Emanuel, and for sure drag them under in 2012.
It’s ironic how the Orahma administration is getting ready to cut medicare to pay for the corporate wellfare also known as healthcare reform but has a shit load of money for their corporate masters.
yeah the worst thing for me about the last year has been the total realization that the entire system has been hi-jacked. It is one thing to have to go out and work to get things done, but to know that no matter how large a coalition you can put together, that corporate interests will win in the end. thats bad. And it has really been made worse by the COMPLETE exposure (for anyone who chooses to look) of the whole integrated system they use to do this. all of the lies and secret meetings, secret deal making between the “real” interested parties, and choosing the public scapegoats and selling it 24-7. The fraud and complicity of corporate owned televison and the remenants of once usefull and valuable newspapers, now turned into ad literature for whatever they are trying to fob off on us. there are no more independant, trustworthy jounalists or mass outletts for journalism, even if there were. george orwells nightmare state has arrived. there is no katmid, or pacifica, there is only the machine.
For those who insist my own “conspiracy theory” approach to government ["the Bilderbergers are coming!", "the Bilderbergers are coming!"] is, well, loopy, let me just remind you of what has been conveyed above.
Here you have a relatively tiny handful of very powerful men in the White House who are intimate friends and colleagues of very power men in the finance industry and on Wall Street concocting a scheme that will funnel literally an infinite number of dollars into a bailout slush fund that can be used at their own discertion to do…what exactly?
Many of these men [and they are almost always rich, white men] are current members of Bilderberg…or are linked to it over the years.
From the website bilderberg.org:
Is Bilderberg a secret conspiracy?
When…rich and powerful people meet up in secret, with military intelligence managing their security, with hardly a whisper escaping of what goes on inside, people are right to be suspicious. But the true power of Bilderberg comes from the fact that participants are in a bubble, sealed off from reality and the devastating implications on the ground of the black-science economic solutions on the table.
No, it’s not a ‘conspiracy’. The world’s leading financiers and foreign policy strategists don’t get together at Bilderberg to draw up their ‘secret plans for the future’. It’s subtler than that.
Bilderberg is an extremely influential lobbying group. That’s not to say though that the organisers don’t have a hidden agenda, they do, namely acumulation of wealth and power into their own hands….
The ideology put forward at the Bilderberg conferences is that what’s good for banking and big business is good for the mere mortals of the world. Silently banished are the critical voices, those that might point out that debt is spiralling out of control, that wealth is being sucked away from ordinary people and into the hands of the faceless corporate institutions, that millions are dying as a direct result of the global heavyweight Rockefeller/Rothschild economic strategies.
george:
Again, my point is merely to aim people in the general direction of exploring the manner in which these secret relationships impact the democratic process in Washington. Maybe I’m wrong about it. Maybe by concerns are exaggerated. If so, point out why. But don’t ignore or neglect this crucial element embedded in the agenda of global capitalists.
so get the fuck off rahm emmanuelle.its not about rahm emmanuelle. thats what we here in the states call ” a straw man” argument
Jeezus, it’s a sad day when the “progressive” answer to employment problems is to call for excluding foreign workers.
And jeezus, do you really prefer that real estate just be permitted to crash? You think that will help working people? I guess you do prefer it, given that it would severely embarrass Obama and Emanuel, and for sure drag them under in 2012.
DrZen #38
And how will pay for those “high” real estate prices with unemployment high, wages stagnant and housing no longer increasing in value allowing refinancing?
Why don’t you be honest about the remedies, (real estate has crashed and re inflating it is merely repeating failed prescriptions. Presently, Obama’s actions are merely bailing out and subsidizing the Oligarchs and Kleptocrats.
What is it about in your view? Why is Jane so exercised about this relatively unimportant move? Why are you?
Please also see Chris Whalen quote above, and numbers 1, 13, 14, 25, 30 in the comments. I won’t mention the Bilderberg guy because even you can see that he’s crazy.
george, at this point it’s just one bridge too far, particularly since there is no accountability to be head. The process needs to change at the gov. level for the Bilderbergs not to be immunized by bad State actors.
actually, giving away our money for free does just that, it keeps home prices high since there is more money around
BUT — no independent auditor!
That’s a very interesting question. I wonder whether that’s the only practical way to systematically address the below-mortgage valuations, as it’s proven impractical to get judicial re-evaluations of mortgage balances; get mortgagors themselves to adjust mortgage balances; and unwind the many layers and tranches of CDOs built atop the original mortgage balances.
The questions, I guess, include: What are the expected costs in other areas, and the unintended negative consequences? Is fixing the upside down mortgages worth those costs? And is it too late to fix the problem, or have most of the foreclosures and personal bankruptcies already happened?
This comes by way of Jesse Cafe
http://www.zerohedge.com/sites/default/files/Sprott%20December.pdf
If you understand this great if you don’t they have been printing money and buying usa bonds with it. It’s a Pyramid scheme. The world has been selling them since 2008 and ift won’t be much longer 2011 maybe before we go into default as a nation. Thinks South America in the late 60s t0 80s. If you think that the ride we are on with Poltics is strange hang on kids it’s about to get really strange. Sad, we little people didn’t do this to ourselves, only greed at the highest levels of govt, military complex, and wall street.
This is not really “thievery”. To be a thief, to rob, to steal, is to break the law. What Geithner Inc. are doing here is fully in accordance with the law.
That’s the point!!
The folks who gutted Glass-Steagall, who deregulated the banking industry, who encouraged numbingly complex and convoluted “derivative” hedge-fund schemes leverage 40 or 50 to one you need an advanced degree in mathematics to grasp, were all very, very careful to make sure that no one was breaking the law.
The law is the “scheme”. But who writes the laws? How are they concocted between the players on Wall Street and the players in Washington.
The “system” itself is the scheme. And no one will go to jail for anything they’ve done. Even the Emanuel/Fannie scam is more the exception than the rule.
Yes, there is a reason they can allow foreclosures by the millions.
“Jeezus, it’s a sad day when the “progressive” answer to employment problems is to call for excluding foreign workers.”
You’re partially right, – I am calling for H1B1 visa holders to be paid going wages instead of being used by corporations (Microsoft) to suppress them.
you make a frightening, convincing case I must say
off to bed, good night all
@44: are you even understanding what I’m saying? Yes, the economy is in the shit. So Obama is attempting to keep it at least from depression until it picks back up. When it picks back up, paying for keeping afloat will be a lot easier. You can argue with his tactics but he’s stuck with the strategy. The alternative is much much worse.
@45: I have a job, thanks. Funnily enough, there are plenty of racist pricks here too, whose solution to our own unemployment problems would be to have me expelled, because I’m an immigrant contributing to the economy here too.
@46: Like I say, you can argue about the tactics, but if you think allowing real estate to tank further would actually be a better solution, well no. Obama is stuck with it. He cannot reconstitute the American economy overnight, even if he wanted to. (He could certainly be criticised for not wanting to.) I think he could and should have nationalised the banks but whatever he did, it was going to be costly, and that cost is going to have to be met from an expanded economy. The alternative of just letting it slide into oblivion is not something you should contemplate though.
Obama is a Third Way politician. He’s not simply a servant of the rich, although for sure he doesn’t intend to hurt them much. He tries to balance interests. For sure, the interests he balances are weighted by money, but money is, by and large, power. It’s pointless to get screechingly angry with him for not being a revolutionary, because no revolutionary has a hope of getting to the presidency in the US. Painting his actions as thieving for the rich, or covering for his mate does make a satisfying frame but it’s not even close to what’s going on. There are sound reasons for protecting bondholders that hold even if you do not like the bondholders.
Fix the system. You want revolutionaries, build a system in which revolutionaries can succeed. Indulging yourself in conspiracy theories about the people who are working that system is pointless: the system itself is the problem, not its puppets. You think that if you get rid of Rahm Emanuel, there isn’t another Rahm Emanuel waiting in the wings? You think Geithner is in some way special?
How many goddamn outrages is a person supposed to be able to juggle at one time!?
Well, the bankers and the folks in the health care industrial complex, and the folks in the FIRE industries who have funneled over two billion, 300 millions dollars to the folks in the Senate tasked with monitoring and regulating their industries {!!!!} have cushy blogging chairs too, don’t they? Only I suspect the piles of shit they created are being swept away by the tax payers, aren’t they?
Obama “stuck” with the strategy that he and his Bilderberger handlers have concocted from the get-go?
Please.
“relatively unimportant move”
Stopped reading right there. Too many smart people here, “Dr” Zen. Take your crazy someplace else.
You know, I’ve always wanted to believe my gleanings garnered from exploring the world of Bilderberg were, uh, “crazy”.
How so, mate?
@44: are you even understanding what I’m saying? Yes, the economy is in the shit. So Obama is attempting to keep it at least from depression until it picks back up. When it picks back up, paying for keeping afloat will be a lot easier. You can argue with his tactics but he’s stuck with the strategy. The alternative is much much worse.
DrZen #57
You know Obama could float the money out to the citizens ala Keynes instead of to the bankers.
Okay, but with respect to the economic bailout, tell me where the government ends and Bilderberg begins. And vica versea. Given that Tim Geithner and Larry Summers are both members of Bilderberg and played crucial roles in taking over the task of “rebuilding” the economy from Hank Paulson. He’s another Bilderberger. Along with Ben Bernanke and Alan Greenspan.
Well put. I hope I can remember that in the heat of future battles.
As most of you may know, TPM Cafe is infested with Centrists (ObamaPods) and they have a diary attacking Jane. I and a couple of other people kicked their asses and they haven’t shown their faces all day. You may find it amusing:
http://tpmcafe.talkingpointsmemo.com/talk/blogs/o/l/oldengoldendecoy/2009/12/oboy-oboy-oboy-jane-and-grover.php
Just doing a drive-by. Let it be clear; all the energy spent in the last 8 years of Resisting Robber Baron Bush Co. will now be directed towards understanding what just happened to our Constitution,Act 2, the Obama Era.
I’m so grateful to have the time to study these current events, the guidance of an incredibly well-read father who excels in Political Science [ a top tech writer of manuals for the first Apollo projects, they come with a manual] which quickly lead to manuals for “weapons of mass destruction with high missile capability, the Project”.] He got out after years spent enthusiastically using brain power for the “Greater Good”. The Cold War.
When all the road signs point to ..”Same As It Ever Was” …w should take note.
Gosh, he’s a regular philosopher-king isn’t he? Well, one by way of Machiavelli and Vladimir Putin perhaps.
Here are a list of names we keep reading about in the news relating to the economic crisis.
Tim Geithner
Larry Summers
Hank Paulson
Ben Bernanke
Paul Volcker
Alan Greenspan
David Rockefeller
All members of the Bilderberg Group. All men who wield enormous power when it comes to shaping economic power at home and abroad.
And yet when I suggest it is legitimate to probe the relationship between the Bilderberg agenda and the current economic crisis [regarding both players who started it and players attempting to stop it] I am viewed by you as crazy.
Actually, not to explore the systemic relationships that exist between very rich and very powerful men seems crazy to me.
Bilderberg is the royal pinnacle of a nonpartisan think tank. Left and right mix in perfect comfort and abandon. Bankers, Hedgefund managers, Presidents, all rub shoulders and discuss the means and ways of maintaining controlled global chaos. They are the players, we are the board on which they play out their ‘bubble’ strategies. They are the untouchables.
Change the government by whatever means, and go after their properties; a Dewey, or Spitzer with a popular mandate would find enough shit on all of them to claw back their ill gotten gains.
Without the law (Global popular mandate) on your side; what you gonna do?
So true. And I don’t have any illusions about my own efforts here. For most folks “Bilderberg” connotes, well, little or nothing.
It’s hard to get your head wrapped around an organization frequented by folks so rich and powerful while the folks you interact with from day to day [on and off line] possess so much less “pull” in how things get done inside the beltway.
And its not like Bilderberg has their own private Army and collection of nuclear warheads. Even they can only go so far in plucking the strings behind the curtain.
But, what the hell, I still enjoy interjecting it into discussions of the “news”. Who knows, maybe one day I’ll be watching Jane go up against an Obamabot on Countdown and she’ll look at him and ask, “aren’t you a member of the Bilderberg Group?” ; o )
“The issue for Democrats and members of the American Left raised by this article in The Nation is why does Barack Obama allow this situation to continue one day longer”?
President Kennedy tried to defeat the beast known as the Federal Reserve and we all know how that ended. This isn’t a question for just the Democratic party, but rather a question for all Americans. Why is a private banking cartel allowed to operate in this country? Why does it seem that those we chose to lead are afraid to take on the beast? More than one career as well as lives will be lost when the truth comes to the light of day.
Any president in modern history has been nothing other than a puppet controlled by our shadow government. Today, it’s corporations that control all through money, power and no doubt implied threats. Let’s get real.
Shielding the bank’s exposure is being done at US taxpayer expense. The unlimited cap for Fanny/Freddy is so the US taxpayer assumes the debt and makes the banks whole. The problem pointed out here:
http://www.zerohedge.com/article/brace-impact-2010-private-demand-us-fixed-income-has-increase-elevenfold-or-else
is that the rest of the world is about done buying T-bills so there may be no way to even pull off having the Fed/Treasury/Fanny/Freddy cover Wall St’s implosion.
Here’s the basic problem – re-capitalizing the banks is giving taxpayer dollars to the same folks that crashed the world economy i.e. a do-over with our money. Failed banks need to fail. Failed CEOs need to get flushed out of the system. Well regulated and fair free markets does work, but this isn’t even close to that. This is just the biggest heist of taxpayer dollars ever seen.
Plus it’s not like the taxpayers don’t need the money. $12.2 trillion have been given to Wall St. One tenth of the sum pays for over a decade of health care reform (even the expensive Senate bill). Another tenth of the bucks given to the banks buys every “toxic” loan made by Wall St. Another twenty percent MIGHT pay for Iraq and Afghanistan (maybe – those wars are EXPENSIVE). A bit more re-balances SS debt probably into the next century.
Numerian goes into detail about one of the reasons house prices are being propped up. If values plummet, then MAYBE tens of millions start to act like Wall St and walk away from them. So the MASSIVE propping up is to ultimatly shift the bill for the whole mess to the US taxpayer.
The question is – who do you want left holding the cash when the wheels come off? The guys on Wall St that crashed the car? Or the US government? See, the government can do things like HCR, jobs programs, re-build infrastructure, SS, Medicare, etc. And about all the Wall St guys can do is fly to the Caymen Islands and hire Blackwater to guard them.
I think it would be great if Rahm is out as Chief of Staff and Karl Rove is brought back in. What do you think girls? Sound good? All that sex Hamsher was having is gonna pay off now! Yippeeeeeeeeeeeeeeeeee!
There in lies the problem. When you have developed learned expectations of the system of governance children/citizens live under,i.e., through the Public Education System.. In real governance of the United States of America we are experiencing a Revolutionary action/ takeover by Global Corporate Interests.
We have several generations of “Dumbed Down” citizens. We have “lost” children with no sense of their inner strength and responsibility. No real life skills. They can’t cook, maintenance a car,manage their finances,embrace their singing,find their inner bliss, believe in their own strength of character. The personal interests/challenges that teach us to talk to and challenge just ourselves. Personal time.
Yeah, we are Homeschoolers. *g* Bias alert.
How do you reach a group of citizens who’ve been programmed out of Current Events? The next wave of soldiers when the economy shifts off the cliffside again. And it will.IMHO.
Dear Jane,
The spirit on the street is very ugly these days, thank you for focusing on the core reason why with this blog.
The fashion statement of todays teen to 20s seems to be a successful attempt at pushing road warrior/mad max vibe over the top, yet the kids are actually alright.
If I had never seen you on TV, I would have a completely different image of what sort of person you are. On TV you are very nice and very brilliant. I have never seen you reading a script or worse, seen your eyes following a teleprompter, you are always well prepared, and know what you are talking about.
What has earned respect for you in my book is the perspective you project, and whose side you are on. Too many people dont seem to care about seeing situations from as close to a 360 degree perspective as possible, until they personally experience a crisis and then it is human nature to focus only in tunnel vision. The blog phenomenon seems capable of solving the problem, and the quicker people begin to see things from 4th dimensional awareness, the better we will be at avoiding crisis.
I have noticed that you have a warrior vibe, on occasion, and from what I have seen of you only when necessary, and if you choose to stay on the path of truth, and refuse to sell your soul, I bet that more people will love you, than you might realize or believe.
There is a sort of roller-derby false identity chicken blank vibe with the internet in general, is there anything worse than some cowardly identity hiding : identity theiving nerd?
The blog where a Lady decided to be up front about who she is, inspired me and touched my heart. Are you all mostly from Virgina?
Having to always identify myself, to friend and foe alike on the soil of the United States is my least favorite component of the path that i am on, I have to follow the rules, I gave an oath. These days there is a general jaded sarcastic blank you neighbor before your neighbor blanks you mindset everywhere these days, that eminates from the white collar criminal/corporate souless mindset attitudes are contagious and the internet mean ness is a reflection, but there a more of us at the grass roots, and we should soundly reject the worst part of trickel down voodoo, we need to show the bastards our teeth.
Only honest, meaningfull communication can repair the loss of patriotism that the white collar yuppie greed is singlely responsible for, and only people who care about the truth, can bring about a return to a spirit of One Nation… and on the latter Dear Lady Jane, you are blessed with genious and talent.
Should qualify on the Homeschoolers acknowledgement . We are actually the more drastic Unschoolers. They “People Who Never Registered Their Children” into the system. The Liberals. The people who reviewed their childhood under the Education Institution and said ” We can do better”. Live with less. Gain more time together.
Fucking made it!!! No tests for bullshit, meaningless trivia designed to keep a child from growing. Our children are respected in our community. No, they don’t wear bonnets. They’re considered Hotties,with discrete tattoos and piercings. They’ve been to every major protest in the last 7 years of their lives. Bonding with the black block people, without being a part of it. So, No Paultards, No Way. Socialist Democratic. Raise Fist.
If we’re looking at stereotypes as we rethink our nations’ problems, I’d like to have an apology from major posters and commenters on FDL for the shit they inflict on me/my family.. The Homeschool slurs and innuendos. It’s a bummer, a gut kick to the spirit. So, we’re throwing that shit out.right?
I apologized for doing a Fuck You salute to the right wingers who were for More War=No More 9/11′s.
I very much would like an apology from someone on dissing Homeschoolers.
That’s probably a post I have to write. Right?
Peace
I find it odd that the very people who don’t object when Obama appoints conservatives to run key agencies, or when outfits like the ACLU work with Bob Barr, suddenly get the vapors when Jane works with the same guy the ACLU, PFAW and CAF have been working with for years now.
perfect. did the blunderbergs engineer 911? homeschooling is BRILLIANT, the internet has only begun to scratch the surface of educational possibilities, plus these days, if you want your kid to have easy access to Karzis smack, put em on a schoolbus. [not sarchasm-the TRUTH]
Uh oh, I’ve got myself into a situation I have to keep explaining cuz it’s a stereotype image.
Our kids studied Suzuki Violin to Level 7 with Wai Chan, an incredible young teacher who studied at Rutgers and the Manhatten school of music and was so incredibly laid back and open with the kids, because we were homeschoolers and I had no desire to see a report on his music relationship and teaching. My job was to see that they were ready for their lessons, but also, that they had one practice time out of 5 a week where they had Open Practice. Whatever the hell they wanted to do with their music without doing damage. A great technique, by the way. 4 practice days, one open practice day. They moved on to electric guitar with a kick ass teacher. Foundations, Variations. Learn enough to go Abstract. The real deal.
Say what?
i am a newbie to blogging, and this is the first response I have gotten. I was agreeing with your perspective on homeschooling, it has been proven time and time again to be way superior to public schools.
Much of this blog has refferenced the dark-side fraternity of who knows what that ruins free enterprize and every thing else financially, for the rest of us, and I was wondering if anyone had any comments about some of their shenanagans. I also wanted to see if anyone had any comments on the latest chapter of the Centuries old opium wars, there have been stories on cable and the internet referring to Afghan Heroin [aka smack circa 1960s]as being the new cool thing going around public elementary schools. I presumed that all the fire-puppies watch c-span, Senator Kay Baily Hutcheson even spoke from the Floor of the Senate on the herion in elementary schools problem, not long ago. It is an issue that should be brought to light, as soon as possible and I can’t think of a better bunch of people than the fire-puppies to raise awareness. I have yet to get a response to any of my letters to Congress calling for the continuing of the bombing of the poppy-fields, anyone have any better ideas? And a dark-side world enslaving fraternity, the blunderbergs or whatever, would see the countless ruined lives from a cold blodded accounting ledger sheet perspective, as historically usual.
diary it — seminal is our diary community — and is one way to spread the word about important issues. scroll down the right side to the toolbox and click on the post diary link.
Those of us on the right seem powerless and gutless today to do anything and everytime we brought up the fact (like 3 times since the 90′s) that Freedie and Fannie were heading for troubled times, we were called racists and not caring for those less fortunate.
We can continue to debate free market and all that crap, but I think both sides now realize the country is in trouble and there are no leaders available to solve any of the crisis we are facing. I am not so naive as to place blame on any one president or party as we have been willing participants all along.
I can’t and will not blame Obamba for creating what he inherited, but he did campaign on selling the country on a fix – for everything. It’s time you guys tell him to get some backbone, fire his entire group and get some people in his organization who have some business experience.
And while I’m at it, did anyone hear of the city in California that has cancelled their New Years fireworks show because they were threatened with a pollution lawsuit from an environmental group? What the hell is happening to our country?!
I agree with you. They are having a last round from the trough before the money is gone. Is there a 12 step program for greed?
Makes you think they all work for the same company.So tedious and boring. Who reads that stuff but themselves?
Well, you’ve figured out that it’s not the fault of one man or one party, it’s time you reexamine that old saw. The business guys have been running the show through their bought off pols for decades, the guys who run Obama are the absolute pinnacle of business.
It’s time we understood that government is not business, and businessmen ultimately have no other interest in governing other than to profit from their ‘service’.
Thank You for the info, I love Friendlies.