THIS WILL HELP YOU UNDERSTAND THE FINANCIAL CRISIS IN THE USA, WHICH IN TURN HAS BECOME A GLOBAL FINANCIAL CRISIS.
This the best explanation I've heard. Not sure what it says about me to have to have a Forrest Gump explanation to understand this mess.
Mortgage Backed Securities are like boxes of chocolates. Criminals on Wall Street stole a few chocolates from the boxes and replaced them with turds. Their criminal buddies at Standard & Poor rated these boxes AAA Investment Grade chocolates. These boxes were then sold all over the world to investors. Eventually somebody bites into a turd and discovers the crime. Suddenly nobody trusts American chocolates anymore worldwide.
Hank Paulson now wants the American taxpayers to buy up and hold all these boxes of turd-infested chocolates for $700 billion dollars until the market for turds returns to normal. Meanwhile, Hank's buddies, the Wall Street criminals who stole all the good chocolates are not being investigated, arrested or indicted.
Mama always said: 'Sniff the chocolates first, Forrest'.
Quote of the day from a fund manager: 'This is worse than a divorce... I've lost half of my net worth and I still have my wife!!'
The bailout, a different perspective:
Back in 1990, the US Government seized the Mustang Ranch brothel in Nevada for tax evasion and, as required by law, tried to run it. They failed and it closed. Now we are trusting the economy of our country to a pack of nit-wits who couldn't make money running a whore house and selling booze?
I always love your articles. and I generally agree with them. I would suggest, as in an email I received, they change the name to the "Foreskins" to better represent their community, paying tribute to the dick heads in Congress.
Here are some other politically correctness to consider: I agree with our Native American population. I am highly insulted by the racially charged name of the Washington Redskins. One might argue that to name a professional football team after Native Americans would exalt them as fine warriors, but nay, nay. We must be careful not to offend, and in the spirit of political correctness and courtesy, we must move forward. Let's ditch the Kansas City Chiefs, the Atlanta Braves and the Cleveland Indians. If your shorts are in a wad because of the reference the name Redskins makes to skin color, then we need to get rid of the Cleveland Browns.
The Carolina Panthers obviously were named to keep the memory of militant Blacks from the 60's alive. Gone. It's offensive to us white folk.
The New York Yankees offend the Southern population. Do you see a team named for the Confederacy? No! There is no room for any reference to that tragic war that cost this country so many young men's lives.
I am also offended by the blatant references to the Catholic religion among our sports team names. Totally inappropriate to have the New Orleans Saints, the Los Angeles Angels or the San Diego Padres.
Then there are the team names that glorify criminals who raped and pillaged. We are talking about the horrible Oakland Raiders, the Minnesota Vikings, the Tampa Bay Buccaneers and the Pittsburgh Pirates!
Now, let us address those teams that clearly send the wrong message to our children. The San Diego Chargers promote irresponsible fighting or even spending habits. Wrong message to our children.
The New York Giants and the San Francisco Giants promote obesity, a growing childhood epidemic. Wrong message to our children.
The Cincinnati Reds promote downers/barbiturates . Wrong message to our children.
The Milwaukee Brewers---well that goes without saying . . . Wrong message to our children.
So, there you go. We need to support any legislation that comes out to rectify this travesty, because the government will likely become involved with this issue, as they should. Just the kind of thing the do-nothing congress loves . . .
As a die-hard Oregon State fan, my wife and I, with all of this in mind, it might also make some sense to change the name of the Oregon State women's athletic teams to something other than "the Beavers."
Why
did Bernie Madoff go to prison? To make it simple, he talked people into
investing with him. Trouble was, he didn't invest their money. As
time rolled on he simply took the money from the new investors to pay off the
old investors. Finally there were too many old investors and not enough
money from new investors coming in to keep the payments
going.
Next
thing you know Madoff is one of the most hated men in America and
he is off to jail.
Some
of you know this. But not enough of you. Madoff did to his investors
what the government has been doing to us for over 70 years with Social
Security. There is no meaningful difference between the two schemes,
except that one was operated by a private individual who is now in jail, and the
other is operated by politicians who enjoy perks, privileges and status in spite
of their actions.
Do you need a side-by-side comparison here?
Well here's a nifty little chart.
BERNIE
MADOFF
SOCIAL
SECURITY
Takes money from investors
with the promise that the money will be invested and made available to
them later.
Takes money from wage
earners with the promise that the money will be invested in a "Trust Fund"
(Lock Box) and made available later.
Instead of investing the
money Madoff spends it on nice homes in the Hamptons and
yachts.
Instead of depositing money
in a Trust Fund the politicians transfer it to the General Revenue
Fund and use it for general spending and vote buying.
When the time comes to pay
the investors back Madoff simply uses some of the new funds from newer
investors to pay back the older investors.
When benefits for older
investors become due the politicians pay them with money taken from
younger and newer wage earners to pay the older
investors.
When Madoff's scheme is
discovered all hell breaks loose. New investors won't give him any
more cash.
When Social Security runs
out of money the politicians try to force the taxpayers to send them some
more; or theycancelS/S to all those who paid into
it.
Bernie Madoff is in
jail.
Politicians remain in Washington
.. with fat medical and retirement
benefits.
Proof of the pudding is in the eating. In case you were sleeping in History class----
This is all factually (and historically) correct - and verifiable.
In 732 AD the Muslim Army which was moving on Paris was defeated and turned back at Tours, France, by Charles Martell.
In 1571 AD the Muslim Army/ Navy was defeated by the Italians and Austrians as they tried to cross the Mediterranean to attack southern Europe in the Battle of Lapanto.
In 1683 AD the Turkish Muslim Army, attacking Eastern Europe, was finally defeated in the Battle of Vienna by German and Polish Christian Armies.
...this crap has been going on for 1,400 years and half of these damn politicians don't even know it.
If these battles had not been won we might be speaking Arabic and Christianity could be non - existent; Judaism certainly would be... And let us not forget that Hitler was an admirer of Islam and that the Mufti of Jerusalem was Hitler's guest in Berlin and raised Bosnian Muslim SS Divisions: the 13th and 21st Waffen SS Divisions who killed Jews, Russians, Gypsies, and any other "subhumans".
Reflecting, A lot of Americans have become so insulated from reality that they imagine that America can suffer defeat without any inconvenience to themselves.
Pause a moment, reflect back. These events are actual events from history. They really happened!!! Do you remember?
1. In 1968, Bobby Kennedy was shot and killed by a Muslim male.
2. In 1972 at the Munich Olympics, athletes were kidnapped and massacred by Muslim males. 3. In 1972 a Pan Am 747 was hijacked and eventually diverted to Cairo where a fuse was lit on final approach, it was blown up shortly after landing by Muslim males. 4. In 1973 a Pan Am 707 was destroyed in Rome, with 33 people killed, when it was attacked with grenades by Muslim males.
5. In 1979, the US embassy in Iran was taken over by Muslim males.
6. During the 1980's a number of Americans were kidnapped in Lebanon by Muslim males.
7. In 1983, the US Marine barracks in Beirut was blown up by Muslim males.
8. In 1985, the cruise ship Achille Lauro was hijacked and a 70 year old American passenger was murdered and thrown overboard in his wheelchair by Muslim males.
9. In 1985, TWA flight 847 was hijacked at Athens, and a US Navy diver trying to rescue passengers was murdered by Muslim males.
10. In 1988, Pan Am Flight 103 was bombed by Muslim males.
11. In 1993, the World Trade Center was bombed the first time by Muslim males.
12. In 1998, the US embassies in Kenya and Tanzania were bombed by Muslim males.
13. On 9/11/01, four airliners were hijacked; two were used as missiles to take down the World Trade Centers and of the remaining two, one crashed into the US Pentagon and the other was diverted and crashed by the passengers. Thousands of people were killed by Muslim males.
14. In 2002, the United States fought a war in Afghanistan against Muslim males.
15. In 2002, reporter Daniel Pearl was kidnapped and beheaded by---you guessed it was a--- Muslim male.
16. In 2013, Boston Marathon Bombing 4 Innocent people including a child killed, 264 injured by Muslim males.
No, I really don't see a pattern here to justify profiling, do you?
So, to ensure we Americans never offend anyone, particularly fanatics intent on killing us, airport security screeners will no longer be allowed to profile certain people. So, ask yourself "Just how stupid are we???"
Absolutely No Profiling!
They must conduct random searches of 80-year-old women, little kids, airline pilots with proper identification, secret agents who are members of the President's security detail, 85-year old, Congressmen with metal hips, and Medal of Honor winner and former Governor Joe Foss, but leave Muslim Males, alone lest they be guilty of profiling.
Ask yourself "Just how stupid are we?"
Have the American people completely lost their Minds or just their Power of Reason???
Let's send this to as many people as we can so that the Gloria Aldreds and other stupid attorneys along with Federal Justices that want to thwart common sense, feel ashamed of themselves -- if they have any such sense.
As the writer of the award winning story 'Forrest Gump' so aptly put it, 'Stupid Is As Stupid Does'.
Each opportunity that you have to send this to a friend or media outlet...
This will be the most transparent administration ever.......
The latest twist in the investigation of former IRS official Lois Lerner and the IRS's persecution of tax-exempt Tea Party groups
took another troubling turn Friday when the agency claimed Lerner's
emails went missing. We're supposed to believe a mysterious computer
crash wiped out the vast majority of Lerner's emails covering the period
in question -- January 2009 to April 2011 -- while not affecting stored
communications for any other time frame, or for any other member of her
division, or in the agency as a whole. The odds of such a misfortune
taking place without the aid of corrupt individuals looking to obstruct
justice are virtually impossible.
Remember
when Richard Nixon's secretary, Rose Mary Woods, accidently deleted 18
minutes of Oval Office tapes related to the Watergate scandal? Nobody
believed that was accidental, either. And as Fox News analyst Charles
Krauthammer reminds us, "[T]he second article of impeachment for Richard
Nixon was the abuse of the IRS to pursue political enemies. This is a
high crime. This is not a triviality."
IT
professionals repeat the mantra "email is forever." That's particularly
the case in any large organization like a corporation or a government
agency. Norman Cillo, a former program manager for Microsoft, told The Blaze
that government email servers have built-in redundancies, and there is
always more than one server in operation. Each server has swappable disk
drives that can be removed if they fail, and all email servers use tape
backups that can be referred to if the server and the disk drives crash all at once.
Even
if Lerner's own computer crashed, it would have no effect on the emails
she has sent or received because the emails would be stored on the
server, not on her computer. And if it was the server that crashed, why
were only Lerner's emails affected, and not any of those sent or
received by thousands of other IRS employees? Even then, Cillo
explained, the emails could be retrieved because there are backup
systems that prevent them from being lost forever, unless someone
deliberately flushed them out of the system.
Darrell
Issa, House Oversight and Government Reform Committee chairman and head
of the IRS tax-exempt investigation, was incredulous. "Do they really
expect the American people to believe that, after having withheld these
emails for a year, they're just now realizing the most critical time
period is missing?" No wonder the announcement was buried in an unrelated letter from the IRS to two senators.
The
loss of Lerner's emails further complicates an investigation already
stymied by lack of cooperation from the IRS and foot dragging by the
Justice Department. Attorney General Eric Holder has done nothing to
move the investigation forward, and under questioning from the House
committee, acting deputy U.S. AG David O'Neil admitted having no idea
how many prosecutors were working on the case. Now the case moves along a
tangent, because investigators have to deal with "missing" emails.
This
new level of the investigation should focus on the procedures the IRS
uses to secure its data. What was the timeline for the supposed crash,
its discovery, and the handling of the data that was lost? Who is in
charge of the servers and the data recovery? Why did the required
redundancies fail to restore lost data?
This
is textbook obfuscation by the IRS, and by the Obama White House in
general. The media sycophants who run interference for the president are
quick to point out that rogue elements in the IRS are responsible, not
Obama. When we look at the long list of this administration's scandals,
according to this logic, we are left to assume rogue elements exist in
the IRS, the ATF, the State Department, the NSA, Veterans Affairs, the
EPA, the Justice Department and so on. With so many corrupt individuals
in all these executive-level agencies, at what point does Obama
ultimately become responsible? Or when does he admit maybe big
government isn't always the answer?
Andrew McCarthy of National Review
points out presidential accountability was a very specific element
written into the Constitution. One leader of the executive branch, a
president, rather than a committee, is vested with a lot of power. "The
president is responsible for all the officials and agencies delegated to
wield the power the Constitution vests only in him," McCarthy writes.
Our president seems to think he remains above responsibility and, even
more laughably, above reproach.
In
his 2009 Arizona State University commencement address, Obama noted
that the university had denied him an honorary degree and "joked" that
"President [Michael] Crowe and the Board of Regents will soon learn all
about being audited by the IRS." His joke is less funny than ever.
WASHINGTON (Reuters) - President
Barack Obama, flanked by the parents of a U.S. soldier released after
being held for nearly five years by the Taliban, said in the White House
Rose Garden on Saturday that the United States has an "ironclad
commitment" to bring home its prisoners of war.
Obama
said that while Army Sergeant Bowe Bergdahl was being held, he was
never forgotten. "We're committed to winding down the war in Afghanistan
and we are committed to closing Gitmo (the prison for foreign terrorism
suspects at Guantanamo Bay, Cuba). But we also made an ironclad
commitment to bring our prisoners of war home," Obama said.
"That's
who we are as Americans. It's a profound obligation within our
military. And today, at least in this instance, it's a promise we've
been able to keep," Obama added.
The
released soldier's father, Bob Bergdahl, spoke after the president and
said that his son was "having trouble speaking English," adding, "The
complicated nature of this recovery ... will never really be
comprehended."
Obama told the soldier's mother and father that "as a parent I can't imagine the hardship that you guys have gone through."
In
the deal to gain the freedom of the last U.S. soldier who was a
prisoner in the Afghan war, the United States agreed to release five
Taliban detainees from the Guantanamo Bay prison into the custody of the
government of Qatar.
"The Qatari government has given us assurances that it will put in place measures to protect our national security," Obama said.
This is my answer.....
FILE - This file image provided
by IntelCenter on Dec. 8, 2010, shows a frame grab from a video
released by the Taliban containing footage of a man believed to be Bowe
Bergdahl, left. Saturday, May 31, 2014, U.S. officials say Bergdahl, the
only American soldier held prisoner in Afghanistan has been freed and
is in U.S. custody. The officials say his release was part of a
negotiation that includes the release of five Afghan detainees held in
the U.S. prison at Guantanamo Bay, Cuba. (AP Photo/IntelCenter, File)
MANDATORY CREDIT: INTELCENTER; NO SALES; EDS NOTE: "INTELCENTER" AT LEFT
TOP CORNER ADDED BY SOURCE
WASHINGTON (AP) — Two
Republican lawmakers on Saturday accused President Barack Obama of
breaking the law by approving the release of five Afghan detainees held
at Guantanamo Bay, Cuba, in exchange for a U.S. soldier believed held by
Islamist insurgents for five years.
The White House agreed that actions were taken in
spite of legal requirements and cited "unique and exigent circumstances"
as justification.
Sgt. Bowe
Bergdahl, 28, of Hailey, Idaho, was handed over to U.S. special
operations forces by the Taliban. In return, five Afghans who were held
at a U.S. detention facility in Cuba were released to the custody of the
government of Qatar, which served as a go-between in negotiations for
the trade.
Rep. Howard "Buck"
McKeon of California and Sen. James Inhofe of Oklahoma said in a
statement that Obama is required by law to notify Congress 30 days
before any terrorists are transferred from the U.S. facility. They said
Obama also is required to explain how the threat posed by such
terrorists has been substantially mitigated.
McKeon is chairman of the House Armed Services Committee. Inhofe is the top Republican on the Senate Armed Services Committee.
In
response, the White House said it moved as quickly as possible given
the opportunity that arose to secure Bergdahl's release. Citing "these
unique and exigent circumstances," the White House said a decision was
made to go ahead with the transfer despite the legal requirement of 30
days advance notice to Congress.
While
saying they celebrate Bergdahl's release, McKeon and Inhofe warned that
the exchange "may have consequences for the rest of our forces and all
Americans."
"Our terrorist
adversaries now have a strong incentive to capture Americans. That
incentive will put our forces in Afghanistan and around the world at
even greater risk," they said.
Senate
Majority Leader Harry Reid, a Nevada Democrat, said in a statement that
"the safe return of Sgt. Bowe Bergdahl is an answer to the prayers of
the Bergdahl family and a powerful reinforcement of our nation's
commitment to leave no service member behind."