Keeping up with the gates of hell

Little entertainment: Here

Below, Irene's research on how the Clinton era destroyed the housing industry.

NEW MOTTO:

TAXATION WITHOUT REPRESENTATION IS TYRANNY.

Catchy, I thought.

To my mind, it is one's duty to avoid tax payment. Otherwise, you are feeding the enemy.

Don't go to jail, the Crown having only the force of the usurper to rely upon, but go out of you way to remove yourself from the trough. There is no longer a voluntary tax system of the people that has been designed to support their common good. We have become slaves to the taxman who uses the FBI, the police, and computer systems to extract money from the producers in order to pay government non-producers, as well the directors of Fannie Mae. Just touching the surface:

• Executive Department workers: 1.8 million (they retire)
  
• State and local workers: 16, million (earning $36 per hour over private industry's #24)
• Unpaid taxes by federal workers in 2006: $2,799,950,165.
• State and local government unfunded, retiree medical benefits: $1 trillion or more
• Federal unfunded obligation to pay medical costs for retired federal workers and military personnel: has a $1.2 trillion
  
• Medicare and Social Security push the nation’s unfunded promises above $52 trillion.” (Recall, the Democrats removed the lock box, the trust money we put in, and said the general revenue will pay social security. "General Revenue" means your grandchildren.)
  

All this and no one is held to any standard of performance. Oh, Obama just added some $17 trillion in debt. Forgot that. There is really no need to attempt to be accurate here, is there?

Vote against every incumbent, keep you children away from public schools, and remove yourself from the trough. That's it, other than moving away. Let it collapse.

It will come to pass the more people work, the less you keep, so get out the back, jack, and make a new plan. Don't forget, get out of the dollar.

Europe has tried this new "change" generations ago and are yelling, now, at the U.S. to stop. As the retired Check President put it, the new stimulus plan is the road to hell. But, what would someone who grew up under Marxist rule know?

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Irene has been busy, so I will file some of her work here. SO YOU CAN STOP, NOW! All you need to know about Freddie and Fannie is below.

I am even behind on this reporting job. Too much going on.

First, requiescat in pacem:

Chicago's Sun-Times Media files for Chapter 11

By David B. Wilkerson, MarketWatch

Last Update: 8:43 AM ET Mar 31, 2009

CHICAGO (MarketWatch) -- Sun-Times Media Group Inc. has become the second newspaper publisher in the Chicago area, and the latest among several around the U.S., to file for Chapter 11 bankruptcy protection at a time of unprecedented advertising revenue declines in the newspaper industry. [Say, why does advertising decline, I wonder? I thought it was people were not buying the paper, but it could be Bush's fault.]

Rival Tribune Co., publisher of the Chicago Tribune, the Los Angeles Times and the Baltimore Sun, filed for bankruptcy last December....

I give even odds that Nancy Peliosi will now recommend bailing out leftists papers. Why not? What's a few billion, anyway, if you can keep the propoganda arms open?

"We must ensure that our policies enable our news organizations to survive and to engage in the news gathering and analysis that the American people expect," Pelosi wrote.

The game is this: get the U.S. Attorney General to say that TV, radio, and Internet are part of the news game; hence, they are big bad anti-trust bears causing her base to collapse. It is the rich people, herself excluded, who are causing newspapers to lose readers by providing free news. You know the next steps are to go after radio and give money to the papers so thay can continue to provide" the news gathering and analysis that the American people expect." The problem is, they know what to expect and are going elsewhere.

Now, there was some disbelief that any Democrat could have done anything bad that resulted in the collapse of the economy, so...

FREDDIE, FANNIE, CONGRESS, CLINTON, et al.

Here is a quick video covering the history of Fannie and Freddie. If you listen and do not come away with the opinion that Big Brother is not manipulating information and opinion, then I hope enjoy the choir.

If you are still in doubt that Clinton (Cuomo), Emmanuel, and Raines killed off the economy, you could read here. You may not be up on this as it is not politically correct to mention truth, because Bush did everything bad, like try to rein in Fannie Mae in 2005.

There has been no free market in housing or finance. Government has long exercised massive control over the housing and financial markets--including its creation of Fannie Mae... -leading to many of the problems being blamed on the free market today.... {Forbes}

What is the source of the explanation of the Democrats' philosphy and action in this matter? The New York Times.

Oh, its the NYT of 1999, not today, as they now say the Clinton era actions could not have caused anything bad. Of course not.

So, there being no longer any argument over what they did, the left has to adopt the argument that it didn't matter. It is hard keeping shifting arguments straight, no? If you didn't check it out, at the top if the page is a link to the beginning of 1984. Check it out, there is nothing new under the sun, as Terence said.

At least, Dodd's amazing lying history is bubbling to the surface, now that the dull-witted media is sratching its collective butt and wondering what happened.

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Quoted here, spokesperson from American Economic Institute in the 1990's,

From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.

Forbes has a recent article called The Government Did It.

...All this overlooks a crucial fact: There has been no free market in housing or finance. Government has long exercised massive control over the housing and financial markets--including its creation of Fannie Mae (nyse: FNM - news - people ) and Freddie Mac (nyse: FRE - news - people ) (which have now amassed $5 trillion in liabilities)--leading to many of the problems being blamed on the free market today....

Below is from the American Thinker, just recently published. Recall Raines is Obama's confidant and was appointed by Cuomo.

...Fannie and Freddie became big contributors to the Democratic Party. The sub-prime business paid off-at least while the bubble was growing. And the Kerry, Hillary and Obama campaigns have numbered among the leading recipients of the largess of the two mortgage lenders.

Franklin Raines, the Fannie Mae C.E.O. from 1999 to 2004, had been budget director in the Clinton administration. The left would not like you to be reminded that Raines has been a consultant to the Obama campaign, according to the Washington Post, and that Freddie and Fannie number among the top 5 contributors to Obama's run for the presidency. Raines is being sued for the recovery of 50 million in compensation acquired by the alleged manipulation of Fannie's books. Now, that's not change we can believe in. That's Washington as we have come to know and "love" it.

The Bush administration in 2003 tried to change the system, to no avail. Congressman Barney Frank, (D, MA ) was in the forefront of stopping the Bush proposal to take control out of Fannie and Freddie and put it into a third overseeing organization. Frank too has emerged in the current crisis as one of the major critics of the administration.

Former Federal Reserve Chairman Alan Greenspan continued to raise the alarm over Fannie's and Freddie's weak capitalization. His concerns were ignored.

Former Congressman Michael Oxley (R,OH), then chairman of the House Financial Services Committee and co-author of the Sarbanes-Oxley Act, introduced a bill in 2005 in response to the growing problem, but Fannie and Freddie put their lobbyists to work and the bill died.

Democratic Senator Chris Dodd, who is now Chairman of the Banking Committee and who appears along side Majority Leader Harry Reid on television to discuss the current bailout negotiations, has had harsh words for the Bush administration for its alleged role in the crisis.

But the rest of us should have some harsh words for Senator Dodd. After all, the Bush administration in 2003 and Senator Phil Gramm even earlier, in 1999, had been working to change the system. Dodd, like Obama, has been a big recipient of campaign funds from Fannie and Freddie, organizations that Dodd oversees. Dodd has apparently been more consumed with campaign contributions from the mortgage giants than the responsibilities of oversight...

NY Post:

...Flexible lending programs expanded even though they had higher default rates than loans with traditional standards. On the Web, you can still find CRA loans available via ACORN with "100 percent financing . . . no credit scores . . . undocumented income . . . even if you don't report it on your tax returns." Credit counseling is required, of course.

Ironically, an enthusiastic Fannie Mae Foundation report singled out one paragon of nondiscriminatory lending, which worked with community activists and followed "the most flexible underwriting criteria permitted." That lender's $1 billion commitment to low-income loans in 1992 had grown to $80 billion by 1999 and $600 billion by early 2003.

Who was that virtuous lender? Why - Countrywide, the nation's largest mortgage lender, recently in the headlines as it hurtled toward bankruptcy....

I don't know what else can be said. There are facts and there is the Obama Nation. Those of us who follow the factual path have to, now, deal with the coming train wreck. It is inevitable.

You know, I even feel sorry for the deer on the track watching the train with hope. The Bible has Jesus saying, "Forgive them, they know not what they do."

You should forgive the sinner, but never the sin. Ignorance will bring destruction to those who watch the train light approaching, but the train wreck can take out those who are trying to get away. Again, get away.