Gene's Footnotes

I have never been impressed by the messenger and always inspect the message, which I now understand is not the norm. People prefer to filter out discordant information. As such, I am frequently confronted with, "Where did you hear that...." Well, here you go. If you want an email version, send me an email.

June 19, 2010

Harry Reid on our voluntary tax system

Just a clip from Greg. 

The leader of the U.S. Senate being interviewed on YouTube.

Clearly, the man is not too bright.  I don't think he is manipulative beyond being a typical politician, not a Machiavellian genius;  he really seems stupid.  In the video he doesn't answer a question because he didn't accept the "phrasology" (sic) of the interviewer.  He points out America has a voluntary tax system even though if you don't pay, you go to jail or are fined, therefore no one is forced to pay taxes.

This is the guy who is bringing you  "health care' and $6.00 a gallon gas.

Also, I still hear the dullards among us say the GOP and Bush caused the banking collapse, here is a timeline story of Bush and McCain trying to reform Fannie and Freddie from "day one."  Frank and Schumer tell us not to worry.  Obama didn't vote.  Since m any do not believe facts, votes, numbers, they may believe the words of the people invovled. 

Keep in mind, the person forcing lending into red lined areas (red lining having been a US government requirement to keep banks from failing) was Andrew Cuomo which makes him the pivot point in the collapse in of the U.S. economy.

Remember that on election day or have some Kool Aid..

Here is an opening article from the Buffalo News.  It confirms what I am saying and I am using it because it is a whitewash, so they, article by Fairbanks,  admit the truth and move on.  They state his control and direction, then blame bankers for, I guess, following the orders:

Cuomo's HUD career under scrutiny

Questions persist over department's possible role in subprime mortgage meltdown

Story tools:

Andrew Cuomo promised to "transform the lives of millions of families across our country" when as HUD secretary he announced his historic plan to increase home ownership.
Eleven years later, many experts think that much-heralded transformation played a role in the devastating subprime mortgage meltdown and the worst economic downturn since the Great Depression.
"They should have known the risks were large," said Edward J. Pinto, former chief credit officer at Fannie Mae. "Cuomo was pushing mortgage bankers to make loans and basically saying you have to offer a loan to everybody."
Pinto argues that Cuomo, now running for governor of New York, helped create the framework for the subprime crisis by pushing unrealistic and irresponsible affordable housing goals as head of the U.S. Department of Housing and Urban Development.
"He was a contributor in terms of him being a cheerleader, but I don't think we can pin too much blame on him," Dean Baker, co-director of the Center for Economic and Policy Research, said of Cuomo's role in the subprime crisis.
Baker sees Cuomo as a contributor because he advocated a philosophy that almost everyone should be able to own a home. And yet, he thinks others, most notably mortgage lenders and brokers, were the real culprits....
Read Ferguson's "The Ascent of Money" to learn how Cuomo/Hud forced Fannie and Freddie, having made the appointments now in question, to make bad loans or be attacked by IRS, FDIC, and not have any Fannie business.  This is what we call Fascism.  The Fascists get away with causing disaster to those not important by claiming big business did it, like BP, GM, etc.

At least Cuomo figured a way to clean out Detroit.

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