12/22/08:

THOUGHT FOR THE DAY: In what PC-addled public school did Americans begin to be taught that when bad things happen, no one is ever to blame?

D'jever notice that we're not supposed to blame anyone for the current Great Depression?

Or how about, "IT'S THE FAULT OF ALL OF US."

Yeah? Well screw that, pal. It ain't my fault, or the fault of anyone I know. We worked for a living, we paid our taxes on time, and we didn't ship anybody's job offshore. And when we got a raise—if we got a raise—we got it for busting our butts, not sitting around in a sauna devising ways to defraud our employees of their pension funds to grease our own palms.

With that said, consider this:

...in an attempt to increase home ownership, particularly by minorities and the less affluent, virtually every branch of the government undertook an attack on underwriting standards starting in the early 1990s. Regulators, academic specialists, GSEs, and housing activists universally praised the decline in mortgage-underwriting standards as an “innovation” in mortgage lending. This weakening of underwriting standards succeeded in increasing home ownership and also the price of housing, helping to lead to a housing price bubble. The price bubble, along with relaxed lending standards, allowed speculators to purchase homes without putting their own money at risk.

Same old, same old. My advice to my fellow Americans (i.e. those not of the "regulators, academic specialists, GSEs, and housing activists" stripe): Don't let 'em blame you for this one. We're never going to fix the problem until those that created it are held to account.

Posted by Alois on

Comments

[ligneus]

You hit the nail on the head with that one, the number of times I've tried to explain to incredulous lefties that the Fannie and Freddie debacle was mostly the handiwork of the Democrats going all the way back to Carter, expanded under Clinton and exploited by Dodd, Raines and co. But no, they think you're a little soft in the head and can't believe their beloved Democrats could do something at once so venal and so stupid.

[Pete (Alois)]

How's about a summary in two words?

HENRY CISNEROS.

[ligneus]

Yep, the foxes given the keys to the hen houses. You can't help but think the pols and the CEO's knew exactly what they were doing, it was one vast criminal enterprise. The Mafia must be green with envy.

[Rosetta Verde]

You're right about the Democrats, but this is a *bipartisan* scam.

Pete, your boy, Bush, hired Hank Paulson and Bush is allowing him to flood the subways on the way out of office.

And don't even forget that your boy, McCain, is all for destroying the wealth of millions of Americans to make the bailout happen, too. Of the presidential candidates, only Ron Paul saw this coming from a miles away, yet he was laughed at by grinning jackals in his own party like Giuliani and McCain for suggesting that Bush's monetary policies are out of control and will lead to massive inflation.

This is the top notch talent that you bargained for when you cheerled for these criminals.

Enjoy.

And with regard to any desire to "ship" jobs offshore, what's wrong with a company going overseas to manufacture its products? The free market has been all but destroyed in this country. Why shouldn't a company move it's operations overseas to more healthy business environments?

[PegMi]

Hey,, ah was that article pajama dot com?""

the one it was advertsed on tv, Christmas and they knew a way to get women to take their clothes off"" all the male reporters liked it!,,....

bad timing!

--------------

to fix the problem,, they are such crooks!

well you would have to hire some shrinks for them,,but they may be bought off too!

all sux!

long line in store for people under 6 things, this ole man in front of me both said it"may be a good thing were not doing good...dang,,
can you e-magine?!""

They could begin fixing the problem. by solving one(lol) they created another. Sure gas is down- no one is buying.
This is uh bull,,tonka,,, hudda

They could still charge $1 that is $1 above what gas is now,, and start paying this crapp off!

Health care our GREATEST ENEMY!!

Michael Moore's move Sicko,,,
he hardley says anything,, the people tell the story. so what if Cuba has good health care at --1 that is 1 end of the island.,,,
where do we even have 1 that is 1 place?

and it is spreading. hell all my friends all died because of this crapp and so will I.
They deny me a doctor!.. 3 years now my meds totally cut off. They keep me alive!

Hate to mess up their lifes! damn!
blame it on me and give me my pills! my brother would say "quick get her pills!"

In three years I went into a 35,000 debt because my dad dies!
that makes sence!
so my dad is a dirty lie-n..
well they would have you believe alot of things! To get their lifes insurance,, or properties.

Guess even the Mob has more respect!

because my dad died I missed a doctor appointment if there was one, they won't tell me when. Then my car brakes down, I call them ALL day-busy!
Next I got robbed! So I cannot no longer see a doctor! worst punishment then even a childs! damn excuse me? """
so much ,,,to much!
As that ole man and I said in our conversation.."and they think the people are that stupid not to see what is going on..daa!""

what the,,,

12-24 i agree! my words! liq
that is why they are called crimmal lawyers!

and Rosetta why don't you ask Obama that?
he is cutting trade off with South America!
that is helping give them democracy.

but i was dissappoined McCain did not vote against the bailout!
I am dissappointed in Presidenet Bush right now too.
seems it is ALL a MUCK!

Talk about Polosi hell she runs sht!
I mean her mouth!

These mortgages probably 1/2 illegal names
rather they do not exist,, like acorn votes
business too. False mortagage loans on top! They get double the money back then!

alot of houses burnt or a flood took it.
they upt insurance for flood. I asked are yah expecting something,, terrorism insurance, not that kind she said- i asked cyber, 'no-
all these new rules, like health insurance
people are dying all over-just get sick!
weird, or worse they do a () on them and tear them open and their whole body full of crapp..literally..
stay and have their guts open for a week with ice on it.
another women died - real religious.
sad!
they wanted me too,, ah no th n ax!'''

healthy business invironment? lol sorry...
maybe like France I hear is real good, how about cuba..? America is definitely selling out, sold out..it is sold out,, sorry folks America is closed..
we are becoming .. I do not know!

[ModerateDem]

Wow, I thought that conservatism was all about taking personal responsibility - silly me.

Yes, the Democrats' policy of every citizen a homeowner fed this crisis - but it's a mess of bipartisan origin (Republicans have long clamored for taking down the walls set up in the New Deal to keep banks from speculating in non-banking realms). The fact that most of the sub-prime mortgages had nothing to do with the bad mortgages issued (less than 20% of them fall into that category - in spite of what the conservative media has been saying) doesn't stop folks from putting the blame on where it doesn't belong.

So, while you and I didn't take out balloon mortgages or ran high credit card debt, enough people (Democrats, Republicans, Independents - but apparently not Ron Paul supporters) did. And much like back in school, when most of the class screws up, everyone, even the couple of kids who behaved, have to pay the price. Sucks, but that's life. I'd venture to say that at least some of your readers did act fiscally irresponsibly. Telling them that the economic situation is not their fault is giving them an undeserved pass.

[Pete (Alois)]

I do not personally know any fiscally irresponsible conservatives. At least, ones who aren't in office. (Heh.)

That whole thing of "get the house you DESERVE" really didn't resonate with conservatives, because we have always known that we don't "deserve" a bigger house just because we're taking up space.

OTOH, that message resonated strongly with liberals. They have always believed that they somehow deserve more than what they have--I guess because they like Kenny G or chardonnay. Go figure.

[Rosetta Verde]

Unfortunately, Pete, you can count on one hand the number of conservatives left in the Republican Party. There was only one conservative running for President and he was derided by his own party for making sense.

The GOP hasn't got a principled leg to stand on in the financial mess they have helped create in this country. Paulson and Bernanke are major players in this fiasco and they were put in power by Republicans. They don't care about you or your conservative principles.

Clearly, this isn't a Democrat vs. Republican issue because the two parties collaborated to inflict the so-called credit crisis and subsequent parade of bailouts on their constituents.

It's a free market vs. government intervention problem.

In a free market incompetence fails and competence is rewarded with success. In the pilfering, statist atmosphere which exists now, just the opposite happens. Those who have been responsible earners are forced to pay the way of the irresponsible. It's immoral and unsustainable. It'll ultimately lead to financial collapse and the failure of US currency. Temporarily lower fuel prices will delay the effects of rampant inflation, but it's only a matter of when, not if, the dollar collapse will happen. It's going to be horrible for a lot of Americans when it does.

It leaves most of us who live here in the good old USA to either get ourselves out or, at least, get our money out of dollar denominated assets.

I'm disappointed to see you toeing the line for guys like McCain and Bush. You ought to get off the bandwagon and start cultivating your own personal strategy to defend yourself from guys like Bush and McCain.

And, again, what's wrong with a company going overseas to manufacture its products? Why shouldn't a company or an individual, for that matter, to move their capital overseas to more healthy business environments?

[PegMi]

Why would they? What is better than the USA?
What is it that is offered more there?
Sounds like GREED.

Nothing wrong with it as long as they leave the equipment here.

I'm disappointed too Pete..lol
what you been doing...? ' ' "
yah and maybe JFK was wrong we should ask what our country can do for US we do and do and do and do

this has been going on way before Bush..I know Pete already knows this. Why do people think it is Bush's fault - what a waste.
oh so they can blame future mistakes on him too! geezsch ...!

underwritten.. I asked people along time ago what that meant..?
I have seen it in so mnay places.
Like it sez on one United Health Care Underwritten By Golden Rule Insurance Company... See review on Local

Your last sentence was my problem on a smaller scale - like a dream of David though
it represented what was to come!
no notta accountability!
What you and lig said, chilling to the bone.

I will fight I will fight I will fight...

healthcare underwritten by Golden Rule seems to be hq in NY whiteplains, ITT is growing though I assure yah that!
Like Diversifed Agency "diversified agency services". Linkedln the worlds largest business network!
the dhimmicritters just had their first enema the cash flow is flowing bloody money nothing BUTT!
As long as a soule is alive they have something to steal!

[Pete (Alois)]

Peg, nice to see you "back on task."

Rosetta--where to even start?

I hired George W. Bush to kill terrorists. Period. And I think he's done a pretty damned good job of that.

With that said, maybe I should have looked a little bit harder at his economic platform: "Continue the trickle-down effect of Reaganomics," or whatever. But be that as it may: I wanted a President that would kill terrorists first and foremost. All else was window dressing, and Bush was the only one who was serious about doing it.

An awful lot of Islamonazis are sleeping under the dirt these days, and we have our President (ultimately) to thank for it.

Vis-a-vis the economy: Here's where you've got it all wrong. "...what's wrong with a company going overseas to manufacture its products? Why shouldn't a company or an individual, for that matter, to move their capital overseas to more healthy business environments?" you say.

Well, I'll tell you what's wrong.

Where's their SENSE OF DUTY to the UNITED STATES OF AMERICA? There was a time when big corporations felt some sort of middling obligation to the nation that made it possible for them to survive and prosper and have the freedom to operate pretty much as they chose.

Moving your operations overseas is kinda like a kid who realizes that he can eat all his Halloween candy in one night if he so desires: Yeah, it might be fun for a little while, but payback's a bitch.

Our big corporations (most of 'em, anyway) can't even pretend that they're doing anything to shore up their homeland anymore. Like the kid who's eaten one Snickers bar too many, they're now face-to-face with the realization that they should have STOPPED A LONG TIME AGO--before they were guilty of destroying the country that nurtured them.

Even a cursory perusal of this blog will show that I am no fan of greedy unions or scams that enable American workers to earn many times what their Japanese equivalents do for doing JACK SHIT.

But with that said, I absolutely do believe that the American worker has a RIGHT to earn a decent living for a decent day's work, and that companies that ship their jobs offshore are traitorous. Casting every American worker as the equivalent of a besotted UAW member is disingenuous at best. Just because a hardworking St. Louis factory mom making $8.77 per hour can be underbid by somebody in Honduras that will do the same work for 77 cents per hour doesn't make it right for an American firm to farm their labor out to Honduras.

I say this: If you don't want to pay Americans to do your work, then get the fuck outta here and take your company to Honduras. And don't whine when the local "gendarmerie" comes calling for its little contribution to keep the militias from slitting your soft American throat.

Do I make myself clear?

Another thing: If you are truly serious about retooling our economy, it would behoove you to take a long hard look at the frat-boy-jock-university-donor network that runs American business these days. The ass-busting kids who put themselves through community college and go on to manage machine shops are a thousand times more competent (and patriotic) than almost anyone sitting in a Fortune 500 boardroom these days. To paraphrase novelist Dan Jenkins, "I don't know a CEO of anything who I'd let shine my shoes." You want to make American business work? Get rid of these assclowns first.

[PegMi]

Damn you hired Bush? Anything I can do?
I'm with you guys! Kill terrorist! I'll never forget! I am on alert..you may say.
Why do I laugh at what ya said?
I did say what you said, in a wayy..
I was thinking it. No loyalty to America what so ever. Like some movie stars and even some musicians. They forget their mold shaper, their true loves of the past. Only remember what it gave them MORE MORE o/`
imortals!

They just do not get it and are so self obsorbed they cannot even see past themselfs. Cannot sympathize nor empathize.

Really I do not know what to think of Verde?
damn attack dog! what the?,,, I see you as no such person- either way of that coin!
you would not do as she-male? claim.
Besides then proclaim a victory in 'their "houses"!'
Reminds me of another so proclaimed religion.
Besides you are already married!

As to thought of article, I see it is 'all' connected to GOP Rep Dem. underground ayers
illinois, all of em and more. Seems it been happening as we all can tell since the 60's.

[Peg Mi]

I just caught something you said- I said that it is ok to move overseas. Verde said that.
I laughed thinking more healthier environment, like getting your head chopped off or hung from a bridge,, WHY would you want to move, and forget or not ask what you can give back to the country that brought you here- to where you are.

Families are broken up convinced they must do this in order to survive. I do not get it. No I agree with you.
Not attack dog,, but a whiner!

I agree, the bullet in the marrow of the bone and until it is removen they cannot even begin to heal the problem. I so so agree. Why they do not even talk about it. Sure does endorse bad behavior!
There is notta accountability! I do not get it! All these banks and what they do entail! All bailed out!
Yet we cannot help our business, so why do we need all these banks?
As I also see it, when they bailed them out they just emboldened the terrorist! Helped them! They are here now in our system!!
Seems to be playing right along to binladen's manual! Bust America, attack Israel!
I think your man Bush did a good job too.
What is the difference between Hitler and Sodom Hinsane killed 1,000's upon 1,000's. We would just keep standing by when Hitler was killing so many innocents?!
They concentrate on Bush lied,,, when they do not see the countless bodies and stories.
Yet Obama is going to cure Africa now. Is that not where binladen started too?

Even if binladen went on utube people still probably sympathedic to him.
Well for peoples knowledge it is here now and very well in the making!
That is if they cared enough to see! Or listen!

[Rosetta Verde]

Pete (Alois) wrote:
Where's their SENSE OF DUTY to the UNITED STATES OF AMERICA? There was a time when big corporations felt some sort of middling obligation to the nation that made it possible for them to survive and prosper

Do you hold Americans, as individuals, to the same standard you hold businesses? Do we have a duty to invest and do business only with American companies in US markets?

[Peg Mi]

Evidently NOT! We have business's right here in Mi doing business with Iran! Is that what you would prefer?
Maybe we could build them a bunker for their WMD's - one bunker buster coming up!

Pete...all these new business's advertise CHEAP cheap tickets cheap hotels cheap healthcare cheap housing cheap cheap cheap.
America loves CHEAP! even cheap diamonds!

How the heck do you answer Rosetta last question. We have always been trading with even China ect. What are they looking for?
Stupidity? .. igotcha catch 22? eegads!

[PegMi]

Helzberg diamonds detroit
" " bin
Helzberg diamonds mi
" " stumbleupon
"" netscape
"" monster
"" military
"" hotjobs
123jump
Soon all these groonies is all you will have to deal with unless they succeed and get you off the computer too!
I'd send you flowers 800 of them if I could.
Best to you and everyone of good faith for the New Year 2009

[Pegmi]

Helzberg was on Fox new. O'reilly after him - the name though rang a bell...
dong.. ah yes,,,
there are these sites help free almi sami?
like another .. flip dog don't forget!
now any connect yet? '' so so many it is not funny! the messages are clear all one sided. Lot's of control there, what can yah do?? what can ya do!

I agree Pete paybacks ARE a Bi Ich.
No one can change it tell they know where it is coming from! period!
well I am telling you, id say the root..
no doubt about it!

[Pegmi]

The accountability-like I had none to O!
But did I not say..if -when they get this bail out money- if the violence increases okk-I-will know where the money went! period!

[PEGmi]

Pete, sorry, I wasn't even thinking - lost in whirlpool of pain - consta flow
well i'll just spill it out . .
I like what you wrote . in fact I love what you wrote! I thank God for people like you. There should be more.
Russia! hell I can c u guys from here-my house... 8-))-
and my name is Fannie May i kick your a...?
just been wanting to say that - don't know why?..
The quilt they implie..when people live with enough anyways. consta
Pete you guys...are Better than NEW YORK TIMES! you tell the truth..I certainly relate!
The quilt I have been suffering for ..NOT KNOWING!" ignorance will get ya everytime!
where to get edicated?'' on the job training..sites like this!
You also are a TRUE NONPROFITORGANIZATION!

[PegMi]

FOS is like walking on eggshells.
Stephen King or Spielberg could not write this.

I have a free dvd you can get one too! Go to www.donkeyollie.org. The back reads "provided to you absolutely free because of donations of autos, boats and real estate from people just like you! carangel and boatangel.

The site has given away over 2.4 million dvds ..,
donkeyollie it is church organized,
I watched some of it,, enough already!
How may I ask can they send these to schools?""
so called religious..views..
plus if these are the same people we just bailed out why are they giving away 2.4 million dollars?""
I tried carangel monster to look for jobs.
and a few others..
just saying very vacarious indeed!

[Pegmi]

Vicarious . .prophecy playing through art
I remember when I cried why "not the LITTLE RED WAGON too?"" How could they ship that overseas? That was awhile back.

Your last sentence I so agree.. ceos!

Vicarious that dvd is so sorry . ..
Cheap! worrysome! so is donkey ollie realty mi there is always HOTjobs!

[Peg Mi]

I just watched Obsession free dvd too. Daniel Pipes in it. Amazing they showed the same propaganda that was used in ollie.
For instance before hamas hezballah kill..
they showed these tapes they made - jivving at hip pop music-the same in ollie! While ollie lay all slattered inpain. I think he represents the ass-american. To think I will have to watch it again, ah can't!
It was one of my first thoughts, they have these tapes and need to rid them and make money and they did.
It was not that long ago on Fox News they said the Muslims offended at Mickey Mouse cartoon. Not soon after that it was pulled.
Now another manly show! Cable sux!

[PegMi]

They need to get accountability or alot of the same will happen all over!
I do agree with lig they had to of known!

There are all these fake business, empty houses no one is there. They just write the business off I suppose. I am not sure how it works, I just know there are to many banks and business no one has even ever heard of.

We continue to be swindled and that is how people feel till there is accountability!

Disney on another channel but prices increased! of coarse . . .

[PegMi]

Look what beguiles us - (pg1)
0-312-25284-6 marketing

Siam informer too
guardian -in the land not good either -
what seems to be trusted should NOT!
Is real!" To supplement - damn!"""

[PegMi]

pg2 sorry only one on there.
pg 1 like it. You will see. You will NOT believe where I found this! My suspicions!
Words of Mass Deception!

[PegMi]

News is braking now on tv about it. I got that number typing in mi5 David Carradine craiglist! I typed in David Carradine Yelp
David Carradine Yellow and zigsaw supplements. What they are saying on tv-assassin.c He had all to steal! Name so many connects. The man on tv talking was screen writer Craig Reed! He felt it had nothing to do with offending their religion but made to look as if-maybe...must hear 'green grasshopper cornered' you will see though what I mean advertising his death!! Like someone else I use to know!" Where do they get the money to propaganda? all - going to the center of the earth. Israel! A gloom of doom they speak of for Israel! This should not be on the computor or allowed! But help build Israel in strength. (many plots) already - nothing I can do though except tell you- Thank God!
Just this am I thought I bet that # goes to anything and sure enough- try that # and war after it or info secret war marketing air flight coke death marketing flowers saw mossad. Mossad! What is interesting it seems to be again one sided. Painting people in this case (jews) in negative light.