Wednesday, October 1, 2008

Another Freedom Lost

Tonight, the first step in the nationalization of the American Financial System has taken place. This has happened despite the will of the people. The House and the Senate has been inundated with phone calls from Americans telling them not to pass this bailout. The Senate has now thumbed their noses at the American people.

There are no repercussions included in the bill passed by the Senate for those that helped cause this problem on Wall St. Barney Frank will still be in the House and Christopher Dodd will still be in the Senate.

There is still hope. The House Republicans did not go along with this on Monday when they voted on it. 95 Democrats also voted against it. This made House Speaker Nancy Pelosi look like a fool. But then there have been enough fools running around this debate for two weeks now that you’d need a roll of paper to list them all.

Congress has the lowest approval ratings in history. People don’t trust them. I’m hoping for the people to stand up on election day and eliminate anyone that voted for this bailout.

The markets work, but those in government don’t have what it takes to let the market work. This isn’t a solution to the problem. This is a new problem to be added to the existing problem. Among those problems are corrupt politicians, over regulations in some areas, under regulation in other areas. Loans to people that wouldn’t otherwise qualify for loans if the lending institutions weren’t forced by Congress to give those loans.

Investors wouldn’t buy a bad investment, so Congress stepped up and took our tax money and bought the bad investment for us. They aren’t at risk. OUR money is now at risk. Today we lost a freedom. The freedom for us to decide what is done with our money.

Now, the only thing that I can hope for is that I’m wrong and the idiots that nobody likes in Washington were right. I keep remembering the old line that even a stopped clock is right twice a day. Hopefully, this sad excuse for a Congress doesn’t make it worse when this doesn’t work.

I welcome your comments.

Brett

10 comments:

liberalshateusa said...

Brett is correct in the statement, they were forced to stop redlining and grant loans to unqualified persons. namely black Americans.
here
Quote below


"The corruption of Fannie Mae was not simply partisan, but it was also racist in its own way. Just as Fannie and Freddie threatened to harm “racist” banks which didn’t loan money to (unqualified) minorities, the leadership of the GSEs was clearly just as afraid of being called racist by minority (by race, not political party) members of Congress. In this remarkable 2005 video of the swearing-in ceremony of the Congressional Black Caucus (with an applauding Michelle Obama prominently featured), Fannie Mae interim CEO Daniel Mudd, cozies up to the CBC: “I humbly ask you to help us and help me… If there areas where we could do better, we’d like to hear it from our friends, and I’d be so bold as to say our family, first.” Mudd was afraid of the CBC. And who wouldn’t be, in a society where an unfounded charge of racism can destroy fortunes and careers?"

liberalshateusa said...

The hypocritical liberals are shown here with their pants downliberal hypocrisies

Red Or Dead said...

Saving Our Economy: What'$ Next?
This was on Fox news last nite(10-4-08) @ 8 pm and will be on again 10-6-08 @ 10 PM. Watch it it told the real story of our current Mortgage mess and how the Demorats starting with LBJ got us to were we are today. It states the fact that Bush in 2001 warned this could happen and again in 2003. Only to be shot down by greedy Demorats who wanted cash in their fat pockets.

Red Or Dead said...

Here is another good Ole Fox News link Here

What do you watch Insane The Clinton News Network.

WEL

Anonymous said...

Well, I am a youngster and yes i do agree to more things said then others. I think its great that someone has the guts to post the harsh truth on this matter.

p.s some of these people are rude.

Brett said...

Some can be rude and crude. THose that don't have an argumemnt to put forth, have no choice but to try to belittle and be rude to others. Thank you for reading. HOpe to have more on here soon.

ka_Dargo_Hussein said...
This comment has been removed by a blog administrator.
Brett said...

I removed the previous comment for several reasons. 1. I don't know the copyright laws but that seemed to be a published account of an event from two years ago. I don't need copyright problems due to someone else posting something on here. 2. The event was two and one half years ago. Everyone knows that McCain was for comprehensive immigration reform and everyone also knows that more than 70% of the people rose up and called, faxed and E-mailed their representatives to tell them that they did not want that package passed. They did not want illegal aliens to have their lawbreaking condoned by the representatives of the people. In other words, that legislation showed how out of touch the Congress is with their constituents. John McCain was wrong for backing that and unfortunately, he'll probably reintroduce it when he becomes President and I can only hope that the people step up and again give him a resounding NO on that topic. 3. And this one is purely personal. Ka dargo has little to contribute other than lack of tolerance of others opinions. He rarely makes a point on the opposite side of an argument and nearly always tries to berate those who do contribute on here in a civil manner. So in light of the first two items I listed on here, I chose to remove his post. If there is no copyright infringement, great. But I'm not taking the chance that it is. I'm being safe, rather than sorry. Since it came from Ka dargo, it's just an easier decision to make the decision to remove it. I haven't been around the past couple of weeks. This market mess has kept me busy and even now, I'm sitting in a parking lot typing this on a laptop while waiting for my next stop in a few minutes. I do hope to post some more things here very soon.Thank you for your patience. Brett

Brett said...

The Huffington Post? Really? Sheesh, you need to start going to some advanced reading. I commend to you "See Spot Run". Brett

Brett said...

Not surprisingly, you miss the point. If you have a non biased sourced, you're welcome to post a link. By your own words, the source you offered is biased. Brett