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99 Reasons To Be Mad as Hell
Our Hijacked Government
The terms Democrat and Republican are all but meaningless now...
Corporate Rule
Make no mistake, big business and its armies of lawyers, accountants and lobbyists run our country...
Bankrupt Economy
Greedy financial firms are responsible for one financial crisis after another...
Oil Junkies
Like every story of addiction and dependence, our country's addiction to oil is an ugly, shameful tale...
America, World Boss
A business-first foreign policy has turned our democratic republic into an empire...
Solutions
This country can change. I have faith in you, the American people to make it happen...
Mad As Hell Comments
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AN OBSERVATION: this society is still bent over the flogging bench, and if we keep being... - WILDCAT on Reason #27: Private Servants:
HEY BUCKOO’S Public Servants as the piece above demonstrates in a microcosmic fashion, reflects the sad truth about the overwhelming majority of our... - John Heffernan on Reason #83: The Military-Industrial-Political Complex:
Howdy From The Heartland : The Mexican Flu became born of life,not in a pig farm in Mexico as the MSM tells you. Despite the...
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What's it going to take to implement some reasonable, judicious foreign policy regarding Cuba. Why not help out its impoverished people instead of worsening their conditions, and maybe do a little bit of good for America's global reputation in the meantime.
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For too long, we’ve used short-term fixes to try to prevent disaster. But those short terms fixes have only delayed, and worsened, the inevitable.
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Obama's chief of staff, Rahm Emanuel, probably had to work all five days a week to collect the $16 million he earned as an investment banker in his two years between the Clinton administration and getting elected to Congress.
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No wonder economist Paul Krugman was so filled with "despair" at Timothy Geithner's latest bank bailout redux, which Krugman describes as the same trick Geithner tried when he was working for Hank Paulson, just with different bells and whistles. The man in the White House may have changed, but the reverence for Wall Street remains.
Krugman told Newsweek that "these men and women have 'no venality'...but they are suffering from 'osmosis,' from simply spending too much time around investment bankers and the like."
As a result, Krugman writes in his column, Obama "has apparently settled on a financial plan, that, in essence, assumes that banks are fundamentally sound and that bankers know what they're doing. It's as if the president were determined to confirm the growing perception that he and his economic team are out of touch, that their economic vision is clouded by excessively close ties to Wall Street.".
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Cindy Williams, get soma over the counter cod overnight, Soma puzzle solutions, a defense scholar at Massachusetts Institute of Technology and former assistant director of the Congressional Budget Office, points out that Obama wants to spend 2 percent more in the next fiscal year than President Bush allocated for this year, soma fascia, Soma generic, and 9 percent more than we spent last year.
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I heard an interesting radio bit recently on This American Life, a repeat from last year, that breaks down the sub-prime mortgage crisis in plain language and human stories that sound almost too insane to be true, Buying Soma. You hear about guys like Mike, a bartender out of Carson City Nev., soma beverly, who knew nothing about the industry before he began bundling mortgages for the biggest players on Wall Street. Drug soma, Or Glenn, who was making $75,000 - $100, addiction to soma,000 a month bundling mortgages straight out of college. Soma nasal spray, Of course, now Mike's bank has closed and Glenn can't pay the mortgage on his own house.
The way the show break it down, pumpkins mp3 soma, it all began in the early 2000s when this giant global pool of savings nearly doubled from $36 trillion to about $70 trillion, Soma chair, thanks in large part to third world countries becoming more productive. Buying Soma, All this money needed a place to go. For years, managers had invested the savings in safe places like treasury bonds, soma acipex, but this changed when Alan Greenspan, World soma, one of our favorites here, declared that he planned to keep the Federal Funds Interest Rate at a paltry 1 percent. Essentially saying, holy grail order soma, as the show puts it, Soma carisoprodol manufactured by mutual pharmaceuticals, "Screw you, global pool of money."
So the financial managers of all this money went out looking for other investments and found mortgage-backed securities, which looked great at the time, soma san diego ca. What's not to like about getting a piece of the action from banks charging 9 percent interest from homeowners. Soma smoothie panniers, As a result, this massive appetite grew for these mortgage-backed securities, putting pressure on the little guys like Mike and Glenn to go out and find new homebuyers, cheap soma prescription, whether or not they had a pot to piss in. It got to the point that a lot of these guys were hocking "NINAs," no income, no asset loans, Buying Soma. Dreampharmaceuticals from soma, In other words, you didn't need anything more than a credit score and a pulse.
You'd think this would raise red flags for the more seasoned players on Wall Street, ld50 soma, who were further packaging the mortgage-backed securities into larger instruments called Collateralized Debt Obligations, Soma cimetidine, or CDOs, but the bankers, it seems, soma san, were either blinded by greed, Soma cc pill, victims of groupthink, or probably both. One of the reasons they felt so safe was that they were looking at data that showed foreclosure rates of less than 2 percent, but the problem was that the data was historical, online pharmacy sale soma, collected before the invention of these crazy no-interest or even negative amortization mortgages. Suvior soma, Little did they know the foreclosure rates would reach levels of 50 percent in some regions. Plus housing prices just kept rising, which looked good on paper, but didn't take into account that household incomes were remaining flat. Buying Soma, By 2006, the average house cost four times the average household income, almost twice as high as in decades past.
We all know the rest of the story. How these CDOs were rated AAA when they should have been rated B-. How when the housing prices finally flattened, and then dropped, the system almost instantly went into a freefall from which it has yet to recover. As many as half of those AAA CDOs have dropped 50 percent of their value, many worth virtually nothing.
While those Ivy League brains managing that huge pool of $70 trillion in savings thought they had found the magic bank account, they were actually throwing the funds into a furnace that burned massive amounts of money into thin air, Buying Soma.
Now the 1 percent offered in Treasury Bills is looking pretty good. And banks won't lend to anybody.
Yet I continue to get these calls. Must be more than a few suckers still left out there.
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