Repub Party shows true colors and real nasty tactics

[merrill]

Introducing the Republican Job Killing Plaftorm Written In Stone:

1. TABOR is Coming by Grover Norquist and Koch Bros sells out state governments, public schools,SRS services etc etc to private industry = Grab Your Wallets!
Beware: TABOR Is Coming | Dollars & Sense

2. Bailing out The Reagan/Bush Savings and Loan Heist aka home loan scandal sent the economy out the window costing taxpayers many many $$ trillions (Cost taxpayers $1.4 trillion), Plus millions of jobs, loss of retirement plans and loss of medical insurance.
The Bush family and the S&L (Savings and Loan) Scandal

3. Bailing out the Bush/Cheney Home Loan Wall Street Bank Fraud cost consumers $ trillions, millions of jobs, loss of retirement plans and loss of medical insurance. Exactly like the Reagan/Bush home loan scam. Déjà vu can we say. Yep seems to be a pattern.
What is the difference between a Ponzi scheme and a housing bubble? | Dollars & Sense

4. Bush/Cheney implied more than ONLY 3 financial institutions instead of several were at risk so why $700 billion in bail out money? One of the biggest lies perpetrated to American citizens. Where did this money go? Why were some banks forced to take bail out money?
"Good Billions After Bad"


5. Tax cuts m= the ENTITLEMENT program for the wealthy which do nothing to make an economy strong or produce jobs. Tax cuts are a tax increase to others in order to make up the loss in revenue = duped again.

Still A Bad Idea – Bush Tax Cuts aka The ENTITLEMENT program for the wealthy at the expense of the middle class = duped one more time.
Still a Bad Idea | Dollars & Sense

6. In the end big debt and super duper bailouts were the results which does not seem to bother Republicans, as long as they are in power.

In fact, by the time the second Bush left office, the national debt had grown to $12.1 trillion:

* Over half of that amount had been created by Bush’s tax cuts for the very wealthy.

* Another 30% of the national debt had been created by the tax cuts for the wealthy under Presidents Reagan and George H.W. Bush.

• Fully 81% of the national debt was created by just these three Republican Presidents.
Social Security Q&A | Dollars & Sense

7. Starting in 2003, George W. Bush destroyed the world economy by encouraging U.S. banks to make loans to those who could not afford them, through schemes such as the "American Dream Downpayment Initiative".

Also through the destruction of oversight, such as lawsuits to prevent state securities laws from being enforced on Bush's watch.

Once Bush's policies led to their inevitable result of economic collapse, the United States found itself in a situation where it had to take on debt in order to restore the economy.

ReaganBushDebt.org Calculation Details

*. Nixon’s Watergate

* Reagan/Bush Iran Contra

 

[merrill]

Democrats were left with a previous mess that cost taxpayers $11 trillion

NOW along with blowing $11 trillion tax dollars the previous administration left behind
about 11 million americans forced out of work through no fault of their own. It was the fault of the government.

" Often, government plays a role in bubbles. The housing bubble was in part generated by the Federal Reserve maintaining low interest rates. Easy money meant readily obtainable loans and, at least in the short run, low monthly payments.

Also, Fed Chairman Alan Greenspan denied the housing bubble’s existence—not fraud exactly, but deception that kept the bubble going. (Greenspan, whose view was ideologically driven, got support in his bubble denial from the academic work of the man who was to be his successor, Ben Bernanke.)

In addition, government regulatory agencies turned a blind eye to the highly risky practices of financial firms, practices that both encouraged the development of the bubble and made the impact all the worse when it burst.

Moreover, the private rating agencies (e.g., Moody’s and Standard and Poor’s) were complicit. Dependent on the financial institutions for their fees, they gave excessively good ratings to these risky investments. Perhaps not fraud in the legal sense, but certainly misleading.

And, yes, substantial fraud was involved. For example, mortgage companies and banks used deceit to get people to take on mortgages when there was no possibility that the borrowers would be able to meet the payments. Not only was this fraud, but this fraud depended on government authorities ignoring their regulatory responsibilities.

So, no, a bubble and a Ponzi scheme are not the same. But they have elements in common. Usually, however, the losers in a Ponzi scheme are simply the direct investors, the schemer’s marks. A bubble like the housing bubble can wreak havoc on all of us."

What is the difference between a Ponzi scheme and a housing bubble? | Dollars & Sense

***********************************************************************
Now what exactly does the repub party have in mind to restore 11 million jobs that went out the window under the watch of their regulatory jurisdiction that which was the Bush administration?

If tax breaks were the key to great paying new employment opportunities the USA would have a huge surplus of jobs no matter what.

Who exactly is going to employ the new 11 million unemployed?

All they do is say no and get in the way! So damn insensitive!!!

 

[EdwardBaiamonte]

Now what exactly does the repub party have in mind to restore 11 million jobs that went out the window under the watch of their regulatory jurisdiction that which was the Bush administration?

well that hardly makes sense at all given that long before Bush
(hardly a Jeffersonian, Libertarian, or Tea Party Republican) much of the liberal federal government was organized so sensitive bleeding heart liberals could get people into homes the Republican free market said they could not afford!!


Senate Banking Committee, Oct. 16, 2003:

Sen. Charles Schumer (D., N.Y.): And my worry is that we're using the recent safety and soundness concerns, particularly with Freddie, and with a poor regulator, as a straw man to curtail Fannie and Freddie's mission. And I don't think there is any doubt that there are some in the administration who don't believe in Fannie and Freddie altogether, say let the private sector do it. That would be sort of an ideological position.

 

[EdwardBaiamonte]

If tax breaks were the key to great paying new employment opportunities the USA would have a huge surplus of jobs no matter what.

we are in a housing recession created by liberals and prolonged by liberals who won't let the free market resolve this huge sector of the economy. The fake robo signing scam just slowed the process down by a 1-2 years.

Once we get past the liberal obstruction in housing, tax cuts and spending cuts are 100% of the solution because then the private sector, not silly liberal bureaucrats, will have the money to create real jobs.

Then, the biggest stimulus of all will be in order: getting rid of Obama. The most left wing, anti American president in our history is simply scaring everyone from doing anything with his radical left wing proposals.

 

[merrill]

There are several ways in which the Bush family plays into the Savings and Loan scandal, which involves not only many members of the Bush family but also many other politicians that are still in office and still part of the Bush Jr. administration today.

Jeb Bush, George Bush Sr., and his son Neil Bush have all been implicated in the Savings and Loan Scandal, which cost American tax payers over $1.4 TRILLION dollars (note that this is about one quarter of our national debt).

Between 1981 and 1989, when George Bush finally announced that there was a Savings and Loan Crisis to the world, the Reagan/Bush administration worked to cover up Savings and Loan problems by reducing the number and depth of examinations required of S&Ls as well as attacking political opponents who were sounding early alarms about the S&L industry.

Industry insiders were aware of significant S&L problems as early 1986 that they felt would require a bailout. This information was kept from the media until after Bush had won the 1988 elections.

Jeb Bush defaulted on a $4.56 million loan from Broward Federal Savings in Sunrise, Florida. After federal regulators closed the S&L, the office building that Jeb used the $4.56 million to finance was reappraised by the regulators at $500,000, which Bush and his partners paid. The taxpayers had to pay back the remaining 4 million plus dollars.

Neil Bush was the most widely targeted member of the Bush family by the press in the S&L scandal. Neil became director of Silverado Savings and Loan at the age of 30 in 1985. Three years later the institution was belly up at a cost of $1.6 billion to tax payers to bail out.

The basic actions of Neil Bush in the S&L scandal are as follows:

Neil received a $100,000 "loan" from Ken Good, of Good International, with no obligation to pay any of the money back.

Good was a large shareholder in JNB Explorations, Neil Bush's oil-exploration company.

Neil failed to disclose this conflict-of-interest when loans were given to Good from Silverado, because the money was to be used in joint venture with his own JNB. This was in essence giving himself a loan from Silverado through a third party.

Neil then helped Silverado S&L approve Good International for a $900,000 line of credit.

Good defaulted on a total $32 million in loans from Silverado.

During this time Neil Bush did not disclose that $3 million of the $32 million that Good was defaulting on was actually for investment in JNB, his own company.

Good subsequently raised Bush's JNB salary from $75,000 to $125,000 and granted him a $22,500 bonus.

Neil Bush maintained that he did not see how this constituted a conflict of interest.

Neil approved $106 million in Silverado loans to another JNB investor, Bill Walters.

Neil also never formally disclosed his relationship with Walters and Walters also defaulted on his loans, all $106 million of them.

Neil Bush was charged with criminal wrongdoing in the case and ended up paying $50,000 to settle out of court. The chief of Silverado S&L was sentenced to 3.5 years in jail for pleading guilty to $8.7 million in theft. (Keep in mind that you can get more jail time for holding up a gas station for $50.)

Today Neil Bush is working on closing a deal in Florida, where his brother Jeb is governor, to sell a software package to schools with his startup company Ignite.

Update 11/28/2003: Some of Neil Bush's business deals have been exposed in his recent divorce case. For more on this see:

http://www.truthout.org/docs_03/112703A.shtml

http://www.salon.com/news/wire/2004/01/26/neil_bush/index.html

 

[merrill]

Lets’s demand a new system and vote in Fair Vote America : FairVote.org | Instant Runoff Voting
Demand a change on the next ballot.

We need public financing of campaigns. Citizens cannot afford special interest money campaigns for it is the citizens that get left out. Let citizens vote on this issue.
Home | Public Campaign

 

[EdwardBaiamonte]

There are several ways in which the Bush family plays into the Savings and Loan scandal, which involves not only many members of the Bush family but also many other politicians that are still in office and still part of the Bush Jr. administration today.

Jeb Bush, George Bush Sr., and his son Neil Bush have all been implicated in the Savings and Loan Scandal, which cost American tax payers over $1.4 TRILLION dollars (note that this is about one quarter of our national debt).

Between 1981 and 1989, when George Bush finally announced that there was a Savings and Loan Crisis to the world, the Reagan/Bush administration worked to cover up Savings and Loan problems by reducing the number and depth of examinations required of S&Ls as well as attacking political opponents who were sounding early alarms about the S&L industry.

Industry insiders were aware of significant S&L problems as early 1986 that they felt would require a bailout. This information was kept from the media until after Bush had won the 1988 elections.

Jeb Bush defaulted on a $4.56 million loan from Broward Federal Savings in Sunrise, Florida. After federal regulators closed the S&L, the office building that Jeb used the $4.56 million to finance was reappraised by the regulators at $500,000, which Bush and his partners paid. The taxpayers had to pay back the remaining 4 million plus dollars.

Neil Bush was the most widely targeted member of the Bush family by the press in the S&L scandal. Neil became director of Silverado Savings and Loan at the age of 30 in 1985. Three years later the institution was belly up at a cost of $1.6 billion to tax payers to bail out.

The basic actions of Neil Bush in the S&L scandal are as follows:

Neil received a $100,000 "loan" from Ken Good, of Good International, with no obligation to pay any of the money back.

Good was a large shareholder in JNB Explorations, Neil Bush's oil-exploration company.

Neil failed to disclose this conflict-of-interest when loans were given to Good from Silverado, because the money was to be used in joint venture with his own JNB. This was in essence giving himself a loan from Silverado through a third party.

Neil then helped Silverado S&L approve Good International for a $900,000 line of credit.

Good defaulted on a total $32 million in loans from Silverado.

During this time Neil Bush did not disclose that $3 million of the $32 million that Good was defaulting on was actually for investment in JNB, his own company.

Good subsequently raised Bush's JNB salary from $75,000 to $125,000 and granted him a $22,500 bonus.

Neil Bush maintained that he did not see how this constituted a conflict of interest.

Neil approved $106 million in Silverado loans to another JNB investor, Bill Walters.

Neil also never formally disclosed his relationship with Walters and Walters also defaulted on his loans, all $106 million of them.

Neil Bush was charged with criminal wrongdoing in the case and ended up paying $50,000 to settle out of court. The chief of Silverado S&L was sentenced to 3.5 years in jail for pleading guilty to $8.7 million in theft. (Keep in mind that you can get more jail time for holding up a gas station for $50.)

Today Neil Bush is working on closing a deal in Florida, where his brother Jeb is governor, to sell a software package to schools with his startup company Ignite.

Update 11/28/2003: Some of Neil Bush's business deals have been exposed in his recent divorce case. For more on this see:

http://www.truthout.org/docs_03/112703A.shtml

http://www.salon.com/news/wire/2004/01/26/neil_bush/index.html

but who cares?? They are not in office, not running for office and were not Tea Party, Jeffersonian , or Libertarian Republicans anyway?

In US History more Democrats than Republicans went to jail but this says little if anything about the ideology. Why do you bring it up unless you are slow??

 

[EdwardBaiamonte]

Lets’s demand a new system and vote in Fair Vote America : FairVote.org | Instant Runoff Voting
Demand a change on the next ballot.

We need public financing of campaigns. Citizens cannot afford special interest money campaigns for it is the citizens that get left out. Let citizens vote on this issue.
Home | Public Campaign

you need to decide if you are liberal or conservative and why. If people knew that 30 second TV commercials would not matter a bit.
Do you know if you are for HSA's or not??

Also, do you think it isn't obvious that you like to change the subject when you lose a debate so you can stick with your prejudices?? Do you want to be prejudice like that all your life?

 

[whitehall]

The home lending problem started when Bill Clinton was elected with a democrat majority in congress. The American dream of owning a home would be democrat party policy. Can't pay back the loan? Who cares? Fannie Mae would pick up the slack, only Fannie Mae was run by crooks. Frank Raines (Obama's financial adviser) walked away with 90 MILLION taxpayer dollars by cooking the books and showing a fake profit tied to his bonus money while Fannie was in bad shape. Barney Frank's democrat majority House banking committee had oversight responsibility for Fannie Mae when it went under but Frank told America that Fannie Mae was doing fine while the democrat majority in the Senate was busy trying to indict Baseball stars for steroid use. Democrat anti-American socialists had the majority in both houses of congress for Bush's last two years and they did everything they could to undermine the Military and the economy so they could get a revolutionary in the white House who would ruin this Country.

 

[bitterlyclingin]

It all started when the Liberals decided that prudent lending standards were racist. That was "Slick" Willie in the mid nineties. Fannie and Freddie realized that by guaranteeeing more loans they could inflate their share prices and their salaries would follow along. When GWB and John McCain decided it was time to rein Fannie and Freddie in Bahney Fwank stood in the hen house door saying there was nothing wrong down there, and nobody down there but us foxes. He just wanted to keep rolling the dice a few more times. The banks, looking at the quality of the loans they were making decided they needed insurance against the tidal wave of certain defaults coming and dove headlong into CDOs and CDSs bringing AIG into the whirlpool. Now Bahney has decided its time for him to devote his time to thrusting his male appendage exclusively into his boyfriend's rectum and leave the American people alone for a change.

Burning Down The House: What Caused Our Economic Crisis? Bombshell - YouTube

 

[Luddly Neddite]

Good posts, merrill. Good info.

I think this will get really dirty. Maybe the worst we've ever seen. That's what money will do and Mittens has plenty to throw around.

Makes my skin crawl.