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Fixing the Economic Holocaust: Death by a thousand cuts or take it like a man??

Discussion in 'Political Discussion' started by Fogbuster, Nov 18, 2008.

  1. Fogbuster

    Fogbuster Pro Bowl Player

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    .
    When politicians say they want to help you, hold onto your wallet. And when they are busy pointing their blame fingers at others -- like Geo Bush -- be sure to scratch beneath the rhetoric.

    Obama said at every whistle stop and massively ginned-up crowd he met during the campaign: "We're gonna change the 8 years of failed Geo Bush policy", yet his own transition adviser was himself one of those who [highlight] resisted[/highlight] constructive regulation over Fannie May. Talk about having the inmates running the asylum.

    How are the bigs who are responsible for this economic meltdown going to atone for their wrong-doing?? Will they shuck and jive their way for years, letting everyone die a death of a thousand cuts, or will they man-up and say: "I screwed up"???

    [size=+5]Obama adviser lobbied to protect Fannie[/size]

    [size=+3]Guided effort to curb regulation of mortgage giant[/size]
    Jim McElhatton
    Tuesday, November 18, 2008

    A transition adviser to President-elect Barack Obama earned millions of dollars overseeing an office that led a lobbying effort to prevent increased oversight of mortgage giant Fannie Mae, the company at the heart of the ongoing turmoil in the nation's financial markets, public records show.

    The unpaid adviser, Thomas E. Donilon, held several senior positions at Fannie Mae from 1999 to 2005, including vice president of law and policy, at a time when the company's officers and lobbyists were insisting that now-troubled Fannie's finances were sound.

    In a 2006 report, the Office of Federal Housing Enterprise Oversight (OFHEO) said Fannie Mae lobbyists, whose office was overseen by Mr. Donilon, tried to use their ties to members of Congress to discredit federal regulators through a campaign aimed at securing the release of a U.S. Department of Housing and Urban Development report to discredit OFHEO.

    "Thus, Fannie Mae succeeded in creating a large volume of negative publicity about the OFHEO examination report, in an effort to distract attention from its multibillion-dollars accounting errors," the OFHEO report found.

    Washington Times - Obama adviser lobbied to protect Fannie


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    Last edited: Nov 18, 2008
  2. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    The lead story from this morning from Washington Times is just another partisan hack job from the Moon controlled newspaper... and I thought after about a gazillion posts that deregulation had nothing to do with this crisis.. you said Barney Frank and Jimmy Carter were to blame.. it is so confusing.
     
  3. PatsFanInVa

    PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    Gramm-Leach-Bliley. Who's the Gramm in that name?

    Oh yeah. A chief McCain advisor.

    [​IMG]

    Well, now that McCain has been soundly thumped, we get to hear how a transition advisor to Obama's campaign had some part in an office connected to what again?

    Yeah, Obama caused this mess. Suuuuure.

    Look, the partisan game goes nowhere. Deregulation was a quintesseantially American story. It was full of the hallmarks of our politics -- the Republicans' strong will and weak grasp of reality, a shrug of the shoulders from the Dems, betraying their principals (Gramm-Leach-Bliley, for example, was a vitually unanimous Republican vote, but dissenters among the Dems were only a sizeable minority, perhaps a third,) a willingness to throw caution to the winds based on a belief that real hardship was "from the olden days." A little historical memory would have gone a long way. But we were all thinking we had this economy thing licked. It was like '87 or '82 or God forbid '29 were distant legends.

    Was this kind of groundless, ideological march to deregulation eggregiously magnified in the past seven years? Sure. McCain said "asleep at the switch." Anybody with any balls was acknowledging you can't deregulate a system without paying for it.

    This has been the GOP holy grail since Reagan. My guess is that you, foggy, were railing about socialism and communism and 1984 every time the government had the timerity to suggest market intervention.

    Well, since you're now against deregulation, exactly how should the government intervene in market capitalism?

    Please enlighten us, Fog, as to how the Government should trump the Market in the future of our economic structure.

    Thanks.

    PFnV
     
  4. Fogbuster

    Fogbuster Pro Bowl Player

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    .

    When someone builds their entire campaign around "8 years of failed Bush economy", and it turns out that at least part of the reason for those "failed 8 years of economic policy" was the result of people you now are using in your new presidency, it is not a good sign. To say the very least.

    I said I was happy that a black person finally got elected to the presidency, but if that black person just plays the same old tired out, worn out, decrepit old exhausted politics of the blame game, the next 4 years are not going to be so pretty.

    And it doesn't matter who the messenger is who says it. The editor in chief of the Washington Times was a hire taken away from the Washington Past. If you can't join 'em, beat 'em!!

    :singing: ------------------ :singing: ----------------- :D


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  5. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    Follow the money............
     
  6. Fogbuster

    Fogbuster Pro Bowl Player

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    Well, you might start by NOT inviting to your transition team one of those chiefly responsible for interfering with attempts to control and reign in the mess when the wheels were falling off, as the article states. That'd be a heck of a good start.

    Obama has chosen: "The unpaid adviser, Thomas E. Donilon, held several senior positions at Fannie Mae from 1999 to 2005, including vice president of law and policy, at a time when the company's officers and lobbyists were insisting that now-troubled Fannie's finances were [highlight]sound.[/highlight]

    In a 2006 report, the Office of Federal Housing Enterprise Oversight (OFHEO) said Fannie Mae lobbyists, whose office was overseen by Mr. Donilon, tried to use their ties to members of Congress to discredit federal regulators through a campaign aimed at securing the release of a U.S. Department of Housing and Urban Development report to discredit OFHEO."


    And, I know this is probably too much to ask, it might be nice if Mr. Obama apologized for demonizing Geo Bush and blaming him for all the ills under the sun in order to get himself elected. That'd show some man-up-ness.

    Fogbuster

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  7. Fogbuster

    Fogbuster Pro Bowl Player

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    :rofl:


    As opposed to ..... you????


    :rofl:

    :singing:



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  8. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    Obama has hundreds of advisors, and promises to include people representing a broad range of views in his administration. I think that's a good think, rather than the narrow minded and very limited approach that directed the White House for the last 8 years and brought about the financial disaster now facing the country.
     
  9. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    You're kidding right ? The financial disaster is mostly from housing and Bush, et al, didn't take out crazy loans nor "encourage" bad loans to people with no to little income. Admittedly Bush took credit for the "ownership society" that seemed to develop from the mirage of high home ownership but the root cause goes to before Bush - and not to his political party.
     
  10. Fogbuster

    Fogbuster Pro Bowl Player

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    I agree that Obama has "shown" an open-minded, non-partisan attitude in assembling his circle of advisors, and he may yet tap a Repub or two for his cabinet. That would be good.

    But what I'm talking about is this insidious notion that the current economic crisis belongs to Bush, as Obama's mantra bellowed out 18 trillion times for the past 18 months, "it's all Bush's fault these past 8 years...". That's not right.

    He and those responsible on the Dem side need to man-up and say: "We created a very bad policy by destroying the trust and good faith of the entire American credit system -- almost destroyed it, in fact -- and we have learned our lesson. NEVER AGAIN!!!!" :nosmile:

    This would go a long way to healing the bad blood that was created during this campaign.

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  11. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    What Lies Ahead With Our New Leader, has the Burning Hatred For GW Bush and Politically Correct Racism led us blindly into DICTATORSHIP (Harry)

    President Barck Hussein Obama (worlds greatest teleprompter speaker):
    How destructive to the U.S. economy would a Barack Obama presidency be?

    An exclusive Newsmax analysis warns: There could be a very rough time ahead.

    Beneath Obama's flowery rhetoric lies a dangerous economic plan that will wreak havoc on the American economy.

    Obama plans to return to the failed policies of high taxation coupled with an expansion of government spending.

    Worse, Obama says he is absolutely committed to almost doubling the capital gains rate — something he will easily accomplish with a Democrat Congress.
    Newsmax magazine: President Obama and the Coming Stock Market Crash
     
  12. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    As usual....




    HUH?
     
  13. Fogbuster

    Fogbuster Pro Bowl Player

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    Well, one non-sequitur deserves another!!! :D

    You said: "follow the money ...".

    I said: As you (do)???

    If you are saying that John Solomon ONLY joined TWT for the "money", I've got some news for you: TWT does not over-pay. Not for anybody! Hey, Belichick had to learn it from somebody!!!

    :singing: ----------------------------------- :singing:


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  14. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    NO, Silly!
    I was talking about who calls the shots. Who directs the flow of opinion. We all know the media is slanted one way or another to different degrees. That is usually directly correlary to who owns the outlet...GE, Murdoch, Moon, the NYT...know what I mean?...sure you do.
     
    Last edited: Nov 18, 2008
  15. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Hey guys, isn't this the 329th time you have discussed who is to blame for the economic crisis?

    I mean, seriously, you've gotta be kidding me right?

    I don't give a rats fuggn' behind who brought this up, but the fact people are still willing to debate it boggles the mind.

    PREDICTION: Some of you will still be discussing this same old tired topic 6 months from now.:rolleyes:
     
  16. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    Nothing else to do.
    I'm home with a busted ankle.
    Slow news day.
    Is it noon yet? ......:eat1:
     
  17. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Ok, then you are officially pardoned by the COMMISH

    Now, hobble up to the podium and face the music:D
     
  18. Fogbuster

    Fogbuster Pro Bowl Player

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    So you're saying Solomon, who worked for years at the Washington Post -- and was thus completely vetted -- would totally compromise all his journalistic reputation just to fall into lockstep with a viewpoint, a slant, a perspective he did not agree with???? Why don't you give him a call and tell him that?? Share with us here what he says to you.


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  19. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    Sure thing. I'll get right back to you on that.
    In the meantime................how's the view?


    [​IMG]
     
  20. Lifer

    Lifer Banned

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    Oh right, Barack "Hussein" Obama, the "socialist/marxist/communist/terrorist/un-american/baby-killer/traitor"
    should apologize for "demonizing" others.:rolleyes:
     

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