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Home > Thinking Right > Archives > 2008 > July > 14 > Entry

New financial world dawns today

By Jim Wooten | Monday, July 14, 2008, 08:19 AM

The Atlanta Journal-Constitution

The morning’s headline are likely to make this a rough day on Wall Street: “Feds will offer lifeline to 2 mortgage giants.” The huge Bear Stearns financial services firm essentially disappeared in a single weekend. Can Fannie Mae and Freddie Mac be next?

Yes.

Will they? Probably not. But hang on for the ride. The Federal Reserve and the U.S. Treasury will act, as the feds did with Bear Stearns, to prevent a collapse of the function Fannie Mae and Freddie Mac performed. Treasury Secretary Henry Paulson said Sunday that Congress will be asked on an expedited basis to provide additional credit to each company beyond the $2.5 billion each has now. The two hold or guarantee about half of the $12 trillion in U.S. mortgages.

“Fannie Mae and Freddie Mac play a central role in our housing finance system and must continue to do so in their current form as shareholder-owned companies,” he said.

Maybe. It certainly is desirable that both continue as shareholder-owned, but with far greater federal oversight and regulation. Ordinarily I’m not one to urge more regulation. But here it’s clearly warranted.

Both are private corporations but they operated as high-flyers because investors commonly believe that, as government-sponsored companies, the feds will step in to bail them out in the event of financial distress. Indeed that’s happened. As taxpayers we’re trapped.

Lenders poured money out the door fueling a speculative real estate market. The result was that standards tanked. People who never should have been borrowing, who could not afford the homes they bought or who just flat lied about their ability to repay got loans. No hard questions.

The media has focused attention on “subprime” loans because it’s easy to compare interest rates and argue that some poor soul is the victim of “predatory lenders.” That was, as they say, the tip of the iceberg.

The real problem was that there was no accountability anywhere at any level. The front-line brokers could cut corners because they got the commissions and vanished. Lenders weren’t all that concerned because Fannie Mae and Freddie Mac would take the loans. Fannie and Freddie packaged them up as securities and passed them on to investors who believed that the pool was large enough to cover a few bad loans and, besides, the feds would come to the rescue if need be. They all got fees and commissions and passed junk down the line.

The bet here is that the market’s about to finish off its policing responsibilities. The collapse of Fannie and Freddie is unthinkable and the feds can’t — and won’t — allow it to happen. The role the two perform is a vital one. Some private-sector entities have to perform it — with strict oversight and capital requirements, more competition and a full understanding by the companies, as they evolve in the marketplace, that there’s no promise, real or implied, that taxpayers will bail out the private sector’s financial recklessness.

We’re stuck today. The feds have no alternative but to act, as they did with Bear Stearns, to prevent panic. But tomorrow is another day.

Permalink | Comments (182) | Post your comment |

Comments

By Republican World

July 14, 2008 8:59 AM | Link to this

Ain’t it great?!

(Aw, quit yer whining! Need a job? Join the war, sissy!)

By GOPs got to go

July 14, 2008 8:59 AM | Link to this

It sounds as if the non-recession is starting to resemble a non-depression. All the fat cats got fatter and then ran for the hills. “Cut and ran” to paraphrase an over used expression. Everyone was living high on the horse and making money hand over fist, usually knowing full well the standards were not being adhered to. Banks, investors, mortgage brokers, buyers, realtors, closing attorneys all probably knowing it was fiscally unsound but wanting theirs before the bubble burst. It all comes back to if you think you “might” be able to afford it, you probably can’t.

Step away form the credit cards America. Your self esteem is not related to your personal belongings. Become a “Dead Beat” to the credit card companies. Pay off the balance at the end of the month. If you really want something, do what your grandparents did, SAVE for it and pay cash.

By BFKaJ

July 14, 2008 9:09 AM | Link to this

Good morning all. FNMA and FHLMC present odd problems for our leftist brothers. First, from a conservative view, FNMA and FHLMC serve a useful purpose in our normally capitalist market, in that they make “liquid” the normally illiquid long-term mortgage loans. Using the illusion of government backing, the quasi-governmental secondary lenders create securities based on the bundled repayment streams of mortgages, and sell those securities in the market place. Anyone can buy or sell the packages. By virtue of their near-monopoly on that secondary market, and seemingly unlimited lending abilities, the overseers of the mortgage giants have been able to structure for themselves massive “incentive” compensation agreements.

Unfortunately, FNMA - I don’t know if this is true of FHLMC, but I think it is - ran into an Enron-like accounting problem with FAS 133 and maybe a couple of other FASs, a gross overstatement of income that conveniently benefited the compensations of the top managers. But traditionally both FNMA and FHLMC are run by toadies of the democrats. Thus faced with the largest losses in the history of American business, the leftists will have to decide whether to attack their friends for their thefts, or whether to keep silent and let the conservatives do the heavy lifting. The issue for conservatives is whether the two mortgage repackagers perform any service that requires government backing.

Totally unrelated, we have fresh evidence of the lack of humor among our leftist whiners, in the reaction to the cover of the New Yorker. The cover is a clever portrait and aggregation of many of the “unpatriotic” internet stories about the Obama family, thus mocking the disseminators. Instead of lauding the pointed humor at the left-leaning New Yorker, for re-achieving the glory days of White and Thurber, the leftists are whining about the tastelessness of the cover. The whiners, coincidentally, include the Obama family. I now have grave doubts about his intellectual capacity. And I though Captain Queeg had anger issues!

By BFKaJ

July 14, 2008 9:14 AM | Link to this

Gentle reminder to our leftist friends, do a Google for “Obama FNMA Johnson”

By GOPs got to go

July 14, 2008 9:24 AM | Link to this

LOL,

BFKaJ you are a permanent resident of LaLa land. Spin that dradle, keep applying lip stick to the pig. Some how it all comes back to the “leftist commies”, it could NEVER have a thing to do with us capitalist making money whether you should really qualify for that loan or not. Remember Bush’s advice, Go Shop!!!!

By Mrs. Godzilla

July 14, 2008 9:25 AM | Link to this

For all our rightist friends google enron loophole!

By Redneck Convert

July 14, 2008 9:31 AM | Link to this

Well, if its a real, real big bank the guvmint is suppose to help them out of a jam. If its a little guy that bought more house than he was suppose to, then the guvmint needs to stay out of it and let the guy sink like a boulder in quicksand.

Leastwise, that’s the way economics have been working.

Have a good day everybody.

By Dennis

July 14, 2008 9:33 AM | Link to this

Mr. Wooten writes of the various financial failures, “The real problem was that there was no accountability anywhere at any level.”

If I recall in most if not all of your right wing columns, Mr. Wooten, you have continually echoed the call that the financial markets ought to be free to operate as they want to, without a lot of regulation.

And now you think just maybe we ought to have tighter regulations and oversight?

Do I smell a pharasee?

Where is all of that financial independence you preach about?

You know; pulling one’s self up by one’s own hard work and one’s own bootstraps?

Not expecting to be bailed out by the government when things go wrong?

Whine, whine, whine.

You don’t have to be a blind conservative not to see it, just an ignorant one to deny it.

By WFC

July 14, 2008 9:35 AM | Link to this

The current real estate fiasco is largely the result of social policy… and NOBLE social policy at that. The theory is simple: society will be much more stable if as many people as possible own homes rather than rent. True enough… but problems arose.

  • Back in the day, a prospective home buyer had to save up $10,000 or so of HIS OWN MONEY to get into a nice house. There was a strong correlation between the discipline required to save this much and that required to meet a mortgage payment. Lenders knew this. Then came the “no money down” deals and the rest is history. It’s tougher to walk away from a deal with $10,000 of YOUR OWN MONEY involved. Duh!

  • A bubble developed on the high end of the real estate market. People who could easily afford a $250,000 house were suddenly tempted to buy $750,000 “McMansions”, counting on a continuous double digit appreciation per year. They were too ignorant of economic history to realize that BUBBLES ALWAYS BURST! They were left holding the bag on a house nominally worth $750,000 that was actually worth maybe $550,000. They were asleep or hung-over that day in ECON 101 when the prof explained that ANYTHING’s value is only the amount a willing and capable buyer will pay. Duh!

  • Real estate markets are different from other markets. They are subject to different forces. To wit: if your company tells you that you must move to California, your choices are limited. I’m lucky—- I’m retired and can afford to stay in my current home forever. However, I want to move to Tybee Island, Ga. I’ll wait until the EXACTLY right time in the market to make the move. Not everyone has that luxury.

By BFKaJ

July 14, 2008 9:40 AM | Link to this

Perhaps my argument was not clear to our leftist friends. I think FNMA and FHLMC should be allowed to fail, that the shareholders should be wiped out. I understand that would leave a lot of unsalaried and angry leftists roaming the streets, their natural environment, but it is a risk we need to take.

By AJC/DNC Management

July 14, 2008 9:43 AM | Link to this

Good jobs dwindle- Some take work that’s not ideal-Gloom and Doom/DNC

What, shoveling sh!t?

By day, Devone Kelly is a hairdresser. At night, she dances nude under the stage name of “Caramel” because her hairdressing business has nose-dived.-Urinal/PMS

Aahhh, yes, no one is getting their hair cut anymore, I forgot about that.

So now thee Doom and Gloom would have us believe that this is thee very first time that women took off their clothes for money in Hotlanta.

Yeah, O.K.

~~~~~

Blah, blah, Restrictive voter ID law will be enforced at polls, a not-so-pretty picture of partisan bullying, blah, blah, blah-Queen Pinko, Doom and Gloom

~~~~~

New poverty criteria urged, New York City Mayor Michael Bloomberg says the federal government’s formula for determining who lives below the poverty line is outdated and should be replaced.-Urinal/DNC

Check it out, should this happen, the very next day thee Doom and Gloom will be whining and moaning about the number of poor increasing under the Bushie Administration.

Thought you’d get that one by me, didn’t ya?

~~~~~

Repeat after me: No matter how much it rains, thee government will never acknowledge the end of the drought because then they would have to lower the price of water.

Say again as necessary.

P.S. If the level at Lanier doesn’t rise after yesterday’s deluge, we should choke the klown operating the dam.

~~~~~

83 in Hotlanta in July.

Yeah, “climate change.”

Silly little libs.

~~~~~

Look at these scumbags:

SHREVEPORT, La. (AP) - Actors Josh Brolin and Jeffrey Wright, along with members of a crew filming an Oliver Stone movie, were arrested during a bar fight Saturday morning, police said. The paper said they are part of the crew on an Oliver Stone film, “W,” about President George W. Bush.

A bunch of left wing derelicts whining and moaning about Bushie, maybe they should look into growing up first, no?

POS.

~~~~~

Among other things, beating a supposedly unbeatable Obama despite the lackluster qualities of the Republican nominee would be a testimony to the latent power of the conservative movement. And it’s hard not to smile when contemplating the Democrats’ probable reaction to another defeat.

After their bitter disappointment over the 2000 Gore-Bush showdown in Florida, and their rage over the “Swiftboating” of Kerry in 2004, Democrats would descend into a state of political apoplexy if the Vast Right Wing Conspiracy snookered them a third time.

You think “Bush Derangement Syndrome” is bad? John McCain might become the first president to face impeachment on Inauguration Day.

Just for this reason alone, the Repugs got my vote.

~~~~~

Der Fuehrer Obambi is going to speak at the Reichstag, the place made famous by Hitler and his kult rallies?

You’re kidding me, right?

~~~~~~

“As the Iraqi security forces get stronger and get better, then we will be able to continue drawing down our troops in the future,” Secretary of Defense Robert Gates said in Fort Lewis, Washington State, on Tuesday. “And I think that this transition of control and of responsibility, primary responsibility for security is a process that’s already well under way and based on everything that I’m hearing will be able to continue.”

Can you say victory?

~~~~~

U.S. regulators are already hunting for traders who may have sought to illegally profit from the credit crisis by falsely stoking panics about the stability of companies including Bear Stearns Cos., which collapsed in March amid speculation that clients were pulling business.

Why, what sort of lowlife would stoke fears about thee economy (Hi, Urinal!)*

“The OTS has determined that the current institution, IndyMac Bank, is unlikely to be able to meet continued depositors’ demands in the normal course of business and is therefore in an unsafe and unsound condition. The immediate cause of the closing was a deposit run that began and continued after the public release of a June 26 letter to the OTS and the FDIC from Senator Charles Schumer of New York. The letter expressed concerns about IndyMac’s viability. In the following 11 business days, depositors withdrew more than $1.3 billion from their accounts.

Gosh, it’s almost like they want a bad economy, gee.

By Dennis

July 14, 2008 9:46 AM | Link to this

Hey, Mr. Wooten!

I was just reading some more about the bailout of Freddie and Fannie.

Guess what?!

It’s a right winger’s dream! The bailout has “no conditions”.

Fannie and Freddy are free to go and sin again.

That ought to set your little ole heart to palpitating enough to buy a round of drinks for everybody in your office!

You don’t have to be a blind conservative not to see it, just an ingorant one to deny it.

By Mrs. Godzilla

July 14, 2008 9:48 AM | Link to this

Nine U.S. Soldiers Killed In Afghanistan Battle

By Peter

July 14, 2008 9:52 AM | Link to this

Hey we have the Second Savings and Loan crises……..no wonder another Bush at the helm !

Gotta love the Republicans, all about deregulation……… let the industries plot their own course…….. then when industry fails………….Republicans step in with OUR TAX DOLLARS to save them !

More Waste by the Republicans…….. Big Government, Big Money, Big Deficit, and more Big WASTE !

By Hillbilly Deluxe

July 14, 2008 9:58 AM | Link to this

We have to bail out these firms yet the people who made all the commissions walk away with full pockets. I won’t be happy until some of these people receive 20-30 year sentences and serve every day; of course that ain’t never gonna happen.

I’m sure some would disagree but I see many paralells between today and the late 1920s. Hopefully I’m wrong about this but you never know.

By ron

July 14, 2008 10:02 AM | Link to this

Good morning all,I agree with BFKaJ.I think it all should be allowed to fail.If not,the next one will be worse. There will be a next one.

Several years back,when I saw house prices escalating out of control,I knew where it was all headed.We’re playing Monopoly with real money here,and most of us weren’t invited to the game.,We’re only invited to clean up the mess.We have to stop doing the cleaning for the mess makers and make them responsible.A formidable task.

By WFC

July 14, 2008 10:10 AM | Link to this

AJC/DNC: blah, blah, blah… I see that you are still at it! Get a real job!

By Peter

July 14, 2008 10:21 AM | Link to this

When is the New Yorker going to Show Bush and Bin Ladden together………all smiles and holding hands……..

It should be part of the Bush……..

“Witness Protection Programs for Terrorists” !

By Dusty

July 14, 2008 10:22 AM | Link to this

Well, I never needed Fannie and Freddie but evidently a lot of people did. The same people that thought they could buy a minimansion on a maid’s pay? I would not be surprised at that or their politics. Now the companies that made so many shady mortgages possible have got to be HELPED.

Obama will add another ‘plank’ to his so-called endeavors by saying that anyone making less than two hundred thousand should have government furnished housing. The money to do this will be from “taxes from the rich and the oil companies”(not to mention every taxable citizen in the USA).

Then Demo Polls will say that thousands from Chicago, Philadelpia and New Orleans registered to vote because they “need and deserve” a new home.

Democratic activists, like Mrs. Godzie will proclaim the joy of socialism under Obambi, over & over & over.

But for smiles, jbmlaw reminds us of the new Time mag cover cartoon. It really hits the nail on the head. No wonder Obambi and Michelle are complaining. The truth hurts.

By AJC/DNC Management

July 14, 2008 10:28 AM | Link to this

Listen to this dimwit announce his plan for Iraq, the same exact plan Bushie has:

That is why, on my first day in office, I would give the military a new mission: ending this war.

As I’ve said many times, we must be as careful getting out of Iraq as we were careless getting in. We can safely redeploy our combat brigades at a pace that would remove them in 16 months.

Why, how amazing, it’s the same timetable the generals gave Bushie:

Lt. Gen. James Dubik, the American officer in charge of training Iraq’s security forces, estimates that the Iraqi Army and police will be ready to assume responsibility for security in 2009.

But of course, since the people he is speaking directly to are a bunch of mouth breathing morons, Obambi can make this his idea:

Instead of seizing the moment and encouraging Iraqis to step up, the Bush administration and Senator McCain are refusing to embrace this transition — despite their previous commitments to respect the will of Iraq’s sovereign government.

Either the guy is ignorant or he’s a liar.

The same POS that opposed the surge, now takes credit for getting the Iraqi government to stand up, a government THAT WOULDN’T EVEN EXIST IF THIS MAGGOT HAD GOTTEN HIS WAY .

What a real scumbag loser, taking credit for what our brave soldiers accomplished.

You libs can have this mofo.

By getalife whiners

July 14, 2008 10:28 AM | Link to this

Stop whining Jim and tow the party line as usual.

What is wrong with you?

Did you suddenly decide to be a lib?

Geez.

By PoFo's Inbred Mother

July 14, 2008 10:36 AM | Link to this

WFC @10:10: is that what you stupid liberals pass off on “debate” on this blog, moron? Why don’t YOU get a job? Or, is being a troll on this blog and harassing Conservatives YOUR job as a paid AJC hackass? You don’t do a thing for this blog but bi-tch about what others post. You are a worthless nothing.

Wooten writes a great piece today as usual. The bottom line is that people got home loans who had no business getting home loans. In many states people are going 12 months or more behind in their payments and still holding on to their homes. Why? Because the financial companies don’t want to hassle with foreclosures. They are fed up with them.

But let’s not let Obama off the hook here. After all, it was a lot of Democrat constituents (the poor, the working class, blah blah) who got loans that are now defaulted anyway. So, along comes Mr. Barack Obama as a very serious presidential candidate (and for someone who can say a lot about nothing, that’s impressive - we must really be dumbing down as a nation). So, Wall Street is scared of Obama now. As well they should be. A communist is a communist is a marxist. Take from the successful and give it to the unsuccessful. So liberal:

Why Wall Street fears Obama http://articles.moneycentral.msn.com/Investing/SuperModels/WhyWallStreetIsScaredOfObama.aspx

Investors this summer have been placing their bets on an Obama presidency, and for the most part that hasn’t been good for the market.

Without giving him a chance to explain himself in detail on the campaign trail or at the Democratic National Convention, they are voting with their shares by tossing financial, health insurance, manufacturing and high-dividend stocks into the ash can, and are growing skeptical about energy companies as well.

It’s just that Obama’s rhetoric on taxes and health care is scaring common wealthy people with large capital gains from investments made over the past decade, and a lot of them don’t want to wait around to see whether it’s just populist fluff that might be set aside once he takes office.

Plus, the Democrats who run Congress know that a weaker economy favors their nominee — and they are loath to pass banking or trade legislation now to improve the nation’s industrial standing over fears that it could backfire and give comfort to the Republicans. And finally, there is a well-founded anxiety that one-party rule in Washington for at least the next two years will bring about the sort of abuse of power that has gotten both parties into trouble over the past few decades.

This may sound cynical, but history shows that Wall Street prefers the political parties to split the White House and Congress because it tends to produce the sort of legislative gridlock that prevents costly, idealistic, social or fiscal experiments.

All politics aside, though, the crux of the investing classes’ beef with the Obama worldview is taxes — or, as critics prefer to call it, “wealth redistribution.”

As well they should be scared shtless.

All you successful Americans out there, be prepared to get your money the hell out of the US. I already know lots who are making plans now.

By Mrs. Godzilla

July 14, 2008 10:37 AM | Link to this

Speaking of taking credit where it is not due….

  • how about bush, mccain, et all trying to take credit for passing the new GI Bill*

By Mrs. Godzilla

July 14, 2008 10:39 AM | Link to this

COMMON WEALTHY PEOPLE????

ah, the smell of elitism in the morning

By ron

July 14, 2008 10:41 AM | Link to this

Dusty,my love,Sometimes it’s hard for me to decide wether to have my tax money finance the great unwashed’s housing,or have it go to replace the money stolen by the fat cats.

By PoFo's Inbred Mother

July 14, 2008 10:43 AM | Link to this

“how about bush, mccain, et all trying to take credit for passing the new GI Bill”

Mrs. Moron: you mean that one where Bushie dragged the Demrats back to the drawing board to get rid of those all-important pork fat GI issues such as extending unemployment benefits and building a new museum in Minnesota?

God you Demrats are stupid!

By AJC/DNC Management

July 14, 2008 10:43 AM | Link to this

Wait until the leftwing netkooks read this article and realize that Obambi has no intentions of ending the war, like they won’t be able to see through the BS, get ready for a huge pinko flameout, bwa.

And the Repugs are going to feast on this all the way up to election day:

The Bush administration is considering the withdrawal of additional combat forces from Iraq beginning in September. One factor in the consideration is the pressing need for additional American troops in Afghanistan-7/12/08

So now that Obambi knows what Bushie would do, it’s time to make it HIS plan.

As president, I would pursue a new strategy, and begin by providing at least two additional combat brigades to support our effort in Afghanistan. We need more troops, more helicopters, better intelligence-gathering and more nonmilitary assistance to accomplish the mission there. I would not hold our military, our resources and our foreign policy hostage to a misguided desire to maintain permanent bases in Iraq.7/14/08

Hey, maybe Obambi could hire Bushie to be his foreign policy adviser, you reckon?

By Peter

July 14, 2008 10:47 AM | Link to this

When is the New Yorker going to have a picture of Bush and a Garbage Truck on the cover………..

The line should say……

“Who is going to clean up the George Bush Mess?”

By PoFo's Inbred Mother

July 14, 2008 10:50 AM | Link to this

COMMON WEALTHY PEOPLE????

Hey Mrs. HOGzilla, this may come as a shock to you, but LARGE investors are comprised mostly of wealthy people - that makes them COMMON in that realm of the topic at hand.

Read much or just emotionalize through everything through those pretty pink(o) glasses you wear?

Stupid liberal.

By PoFo's other inbred mother

July 14, 2008 10:52 AM | Link to this

Wooten is for More Government? Now it really is a world turned upside down.

What’s next, Phil Gramm suggesting that every American deserves healthcare, education, and jobs?

Wooten has become a ghost of his hardline conservative past….with one article!

Ghosts? Now I’m scared. Wooooooooooten. Woooooooooten.

By PoFo's Inbred Mother

July 14, 2008 10:56 AM | Link to this

“it’s hard for me to decide wether to have my tax money finance the great unwashed’s housing,or have it go to replace the money stolen by the fat cats.”

Well, “ron”, let me be of help to you: just offer up proof that those evil rich - or as you so eliquently put it as fat cats - stole your money illegally and get it back plus attorney’s fees. I’m sure the FTC, SEC, or a host of other “ethical” watchdog government groups would like to hear your beef, genius.

Let us know how it works out for you!

By Mrs. Godzilla

July 14, 2008 10:57 AM | Link to this

McMultiname @ 10:43

  • no, sir, I mean the GI bill that Bush and McCain stood against because they were afraid that it medd with retention.*

McMultiname @ 10:50

Common wealthy people…..still too ridiculous….with 95% of Americans making under $150 grand…..common….. too funny…

By findog

July 14, 2008 10:59 AM | Link to this

Fiorina is one of the great minds that killed Lucent, 120,000 jobs, and Bell Labs.

As the head of the carrier equipment group she pushed the 20% over quarter sales increases to the point where the company was so deeply discounting the equipment the customers didn’t need that the glut from 1999 is still in warehouses.

Even better is they had to write into those contracts that the systems would be updated to current standards; and no Lucent loses money as the last of these are installed.

She bailed ship just prior to the complete collapse of Lucent to go HP and has never been held accountable for what she did.

Accountability, McCain’s got it but his surrogates are lacking greatly!

By BFKaJ

July 14, 2008 10:59 AM | Link to this

Dear Peter @ 10:47, that would be usual leftist humorless editorializing, and whatever their limitations, the New Yorker people have style. Perhaps with an appropriate caption the picture would work. “The President delivers lunch to the leftists.”

By Peter

July 14, 2008 11:01 AM | Link to this

The second coming of the Savings and Loan crises………brought to you by yet ANOTHER BUSH !

By PoFo's Inbred Mother

July 14, 2008 11:02 AM | Link to this

McMultiname @ 10:43 “* no, sir, I mean the GI bill that Bush and McCain stood against because they were afraid that it medd with retention.*”

Hey HOGzilla, I see you didn’t address the PORK FAT comment on the original GI Bill that the GOP put a stop to and AGAIN, as stated, dragged the Demrats back to the table kicking and screaming. Gee, I wonder why that is?

Your name befits you - you have the cranial capacity of a big lizard. But then again, you are a liberal… hahaha. Good day oinker.

By dirty harry

July 14, 2008 11:07 AM | Link to this

I notice that AJC (PAPER DELIVERY BOY) has now become a Po Fo(INBRED MOTHER)

How fitting!

By PoFo's Inbred Mother

July 14, 2008 11:08 AM | Link to this

“McMultiname @ 10:50” “Common wealthy people…..still too ridiculous….with 95% of Americans making under $150 grand…..common….. too funny…”

You can clearly see that dealing with a liberal lizard brain is a waste of time. This moron can’t comprehend that LARGE investors are of the common wealthy people which the MSN ARTICLE (note: not MY article) referenced. Also note that this pea sized cranial capacitative liberal didn’t address ANYTHING that article referred to other than three words: common wealthy people.

This is what stupid liberals do. Nitpick two or three words out of 1,500 and attempt to discredit the entire article based on that.

You are wasting your time with such wretched mindless liberalism.

By Mrs. Godzilla

July 14, 2008 11:11 AM | Link to this

Karl in the Crimea — Rove, not Marx…..Karl Rove is roving the beaches of the Crimea, not the committee rooms of Congress. Andrew Malcolm of the Los Angeles Times reached the former White House Senior Svengali by cell phone in the Eastern European resort to ask for his reaction to the death of Tony Snow. Mr. Rove ignored a subpoena and failed to appear for testimony before a House Judiciary subcommittee. According to Rep. Linda Sánchez (D, CA-39), Mr. Rove’s lawyer, Robert D. Luskin (a partner in Patton Boggs LLP), “forgot” to tell committee staffers that his client had scheduled what Rep. Chris Cannon (R, UT-3) described as a “long-planned trip” abroad. The Crimea, on the Black Sea, is a famed tourist area, a peninsula that was part of the USSR. Since the breakup of the Soviet Union, the area, ancestral homeland of the Tatar people, has become an “autonomous republic” within Ukraine. This seems to be controversial, as some Ukrainians see the ”autonomous republic” status as the start of a separatist movement; others see it as a smoke screen for continued Russian interference in the peninsula, long a strategic naval asset. Ukraine does not have an extradition treaty with the US, according to the Congressional Research Service, and ”Contempt of Congress” may not be a crime in the Crimea. At least we don’t have to worry about Mr. Rove obtaining undue influence over the Crimean president — there isn’t one. The Head of State of Crimea is the President of Ukraine (Viktor Yushchenko).

REPEATED FOR EMPHASIS

Ukraine does not have an extradition treaty with the US, according to the Congressional Research Service

By Mrs. Godzilla

July 14, 2008 11:13 AM | Link to this

**McMultiname @ 11:02”

I note you did not address the very public remarks made by both McCain and Bush about why they did not support the new GI bill.

By Mrs. Godzilla

July 14, 2008 11:17 AM | Link to this

dirty harry @ 11:07

I think AJC Mgmnt is probably 80% of the wingnut posters here…..watch his language….id changes put tone, content and filth remain the same

he thinks if we think there are really tons of people who think the way he does…well… he thinks it makes some kind of a difference

By Peter

July 14, 2008 11:17 AM | Link to this

I think the New Yorker Cover and caption should be……..

“President delivers election for Obama” !

The failed policies of Bush…….

The Terrible Economy……..Rising Unemployment………… the War………. the Deficit………… the Housing Crises…….the Banking Crises…….The Price of Oil………The Katrina Failure…………FEMA trailers causing Cancer…………

Failure to get America’s #1 Enemy……. Bin Ladden…..

Finally ………the amazing shrinking in value US DOLLAR !

All brought to you by the Bush Administration………

By PoFo

July 14, 2008 11:22 AM | Link to this

Anyone get a load of miss venezuela last night? Who cares about Fannie Mae, when you got T and A like that in 1080p?

By dirty harry

July 14, 2008 11:29 AM | Link to this

This was the vote on the GI Bill!

Obama and Clinton voted YEA…and, McCain, well, he didn’t bother to show up!

The 75-22 vote also added billions of dollars in other domestic funds such as heating subsidies for the poor and money for fighting wildfires to the $165 billion for the military operations overseas.

Now, why in the world would we want to pay for fighting wildfires, or helping the poor heat their homes?

SHRUG!!!

By getalife "whiners"

July 14, 2008 11:29 AM | Link to this

Yes, the toon on the New Yorker is funny but the article shows the real o.

Again, a radical vs a tortured, mentally unstable kook.

We are on a roll of electing pathetic presidents with w being an alcoholic coke head bum to these two losers.

By Vidal Suisun

July 14, 2008 11:30 AM | Link to this

You really PoFo, what is your one-best reccommendation for a federal program that would “solve” any “problem”?

By hillbilly ragger

July 14, 2008 11:31 AM | Link to this

BFKaJ @ 9.40, looks like Atrios agrees with you wholeheartedly.

Dogs and cats, living together…

*Actually, Fannie and Freddie can be allowed to fail. Their shareholders can eat sh!t, and they can be reconstituted as a wholesale federal entities. There are zero reasons that I can think of that we should have shareholder owned entities which “probably but not necessarily” are going to get a government bailout every time they need it.

Both short and long term we might think that having such creatures exist to be mortgage backstops is a good idea. I probably agree with that. But there is no reason for them to be publicly traded companies.*

By Get Real

July 14, 2008 11:34 AM | Link to this

Free Market Capitalism at its best.

Republicans always want a free market until that market crashes, and then they want corporate welfare beacuse those companies that lied, cheated, and stole to make a buck just ‘can’t fail.’ This NEW bailout should have a provision that anyone found to have committed illegal activities will go before a jury of their peers. So let me get this straight, banks can be bailed out for their callous actions and shady bookkeeping with the tax money of the same people they swindled, but those people are on their own. Republicans: Gotta love ‘em.

By the way, Wooten is a flip flop.

By dirty harry

July 14, 2008 11:37 AM | Link to this

By Mrs. Godzilla

July 14, 2008 11:17 AM | Link to this

dirty harry @ 11:07

MRS GODZILLA…He’s back. Now in the disguise of Vidal Suisun!

And, of all things writing to himself.

LOSER……

By BFKaJ

July 14, 2008 11:38 AM | Link to this

If anyone is really interested in the politically-connected history of FNMA, the WSJ has a link to its amusing articles over the years: http://online.wsj.com/article/SB121599777668249845.html?mod=djemEditorialPage

By BFKaJ

July 14, 2008 11:41 AM | Link to this

WSJ articles:

• Fannie Mae Ugly 07/12/08 – Investors continued to flee Fannie Mae and Freddie Mac almost as frantically as the political class tried to reassure everybody there was nothing to worry about.

• The Price of Fannie Mae 07/10/08 – It’s time Americans understood the price they could soon pay for the Beltway’s confidence game with these high-risk “government-sponsored enterprises.”

• Too Political to Fail 04/21/08 – Fannie Mae and Freddie Mac aren’t held to the same standards of accountability as everyone else.

• Fannie Mayhem 11/20/07 – Chuck Schumer is lucky Congress ignored his idea that Fannie Mae and Freddie Mac should ride to the rescue of the housing market.

• Fannie More 10/23/07 – Barney Frank and Chuck Schumer have come up with a proposal that would increase the risk to taxpayers from Fannie Mae and Freddie Mac.

• Fannie to the Rescue? 09/29/07 – Fannie and Freddie went up the Hill to fetch a pail of money.

• Freddie Krueger Mac 05/10/07 – Just when you think they’re defeated, Fannie Mae and Freddie Mac arise in Congress to kill any attempt to clean up their dangerous habits.

• The Fannie Tax 04/12/07 – Democrat Barney Frank and the Bush Administration seem to have found common ground on new rules for Fannie Mae and Freddie Mac. Naturally, there’s a catch.

• Memo to Fannie 06/14/06 – A joke in Washington these days goes like this: “What’s the difference between Enron and Fannie Mae? Answer: The guys at Enron have been convicted.”

• Freddie’s Friends on the Hill 04/27/06 – The Federal Election Commission sheds some light on how Freddie Mac rewards its friends.

• Fannie Mae’s House 10/25/05 – Every Congressional session can be counted on to produce its share of bad bills. But the “reform” bill for Fannie Mae and Freddie Mac is in a class of its own.

• Fannie’s Friends on the Hill 05/09/05 – Congress finally seemed ready to protect taxpayers from Fannie Mae and Freddie Mac. Then Republican Mike Oxley decided to ride to their rescue.

• Fannie Turns a Page 12/23/04 – Fannie Mae – a slick, semiprivate firm operating with the patronage of politicians – is the kind of institution one still expects to find in a country like France.

• Fannie the Centaur 12/17/04 – Understanding their half-man, half-beast nature is crucial to fixing Fannie Mae and Freddie Mac in the wake of their recent financial scandals.

• Fannie Mae Liberals 10/14/04 – There were many moments of high entertainment during the House hearings on Fannie Mae’s creative accounting. But our favorite was the Mister Magoo performance given by Barney Frank (D., Massachusetts).

• Fannie Mae Enron? 10/04/04 – The company was cooking the books. Big time.

• Fannie Uncovered 09/23/04 – The housing-finance giant has been engaging in some accounting funny business.

• Fannie’s Risky Business 02/25/04 – Alan Greenspan puts his credibility behind the cause of reforming Fannie Mae and Freddie Mac.

• Christmas for Fannie Mae 12/23/03 – The Federal Reserve Board releases a new staff study about the impact of taxpayer subsidies for Fannie Mae and Freddie Mac.

• White House Fannie Pack 11/11/03 – White House chief economist N. Gregory Mankiw dares to tell the truth about Fannie Mae and Freddie Mac. The mortgage giants were not amused, which means we’re getting somewhere.

• Fannie Takes the Hill 10/09/03 – When the House of Representatives can’t get even a modest regulatory bill out of committee, the dangers of Fannie Mae become clear in reality.

• Speaking Truth to Fannie 03/12/03 – The president of the Federal Reserve Bank of St. Louis warns of a potential crisis arising from Fannie Mae and Freddie Mac.

• Fan and Fred Get the Business 02/19/03 – The year has not started auspiciously for the two mortgage-finance behemoths.

• Fannie Mae’s Risky Business 09/23/02 – We’ve been suggesting that Fannie Mae was exposed to too much interest-rate risk. All of a sudden investors seem to agree with us.

• Fannie Capitulates, Sort Of 07/15/02 – Fannie Mae and Freddie Mac end months of resistance, stonewalling and downright crankiness and agree to register their common stock with the Securities and Exchange Commission.

• Fannie’s Inside Info 07/01/02 – Even in this post-Enron world, Fan and Fred do not provide as much information about these securities as private mortgage lenders do.

• Inside Fannie 03/19/02 – Fan and Fred don’t function like other companies. They’re allowed to pile up debt, implicitly guaranteed by taxpayers, without being held to even the minimum of corporate governance standards.

• Frantic Fannie 02/28/02 – Companies taking on so much risk and debt, and backed by taxpayers, ought to be more transparent in what they tell the world.

• Fannie Mae Enron? 02/20/02 – Fan and Fred look like poorly run hedge funds: lots of leverage and snarkily hedged risk. Does the word Enron ring any bells?

By Peter

July 14, 2008 11:42 AM | Link to this

SO McCain didn’t show up for the GI Bill vote………

Please remember down the road……he will FORGET he wasn’t there and say he supported the Bill !

Old Guy for President……… McLost !

By fearless fosdik

July 14, 2008 11:42 AM | Link to this

Phil Gramm/John McCain/George W. Bush Economics Alert: IndyMac Bank, a prolific mortgage specialist that helped fuel the housing boom, was seized Friday by federal regulators, in the third-largest bank failure in U.S. history. The collapse is expected to cost the Federal Deposit Insurance Corp. between $4 billion and $8 billion, potentially wiping out more than 10% of the FDIC’s $53 billion deposit-insurance fund.

I understand later in the week George W. Bush will tour America to SURVEY the damage done by his presidency…

By PoFo

July 14, 2008 11:43 AM | Link to this

I’d federally mandate that all women look like miss venezuela. Otherwise we send them to Iraq. Period.

By hillbilly ragger

July 14, 2008 11:52 AM | Link to this

Oops, sorry, wrong link to that liberal blogger who agrees with at least some of what BFKaJ posted. Here’s the real deal.

And getalife “whiners” @ 11.29, you actually read the NYer article? All 15,000 words? And you still think of him as a “radical?”

You keep using that word. I do not think it means what you think it means.

from the article:

“Perhaps the greatest misconception about Barack Obama is that he is some sort of anti-establishment revolutionary. Rather, every stage of his political career has been marked by an eagerness to accommodate himself to existing institutions rather than tear them down or replace them.”

The author doesn’t necessarily mean that as a compliment or a knock, just a statement of reality.

I don’t suppose maybe we could, at some point, start dealing with actual policy decisions and positions by Messrs. Obama and McCain, rather than yelling about how these folks are perceived? Maybe, sometime?

By dirty harry

July 14, 2008 11:52 AM | Link to this

JBMlaw…You list a slew of WSJ clips.

Did you stop to read them or just copy and paste?

Almost every one of these articles was 2002, 2003, 2004, and 2005 vintage!

Who controlled congress during that time span?

By BFKaJ

July 14, 2008 11:53 AM | Link to this

Dear Hillbilly @ 11:31, I am unfamiliar with Atrios, but we share at least a short-term conclusion. I perceive Atrios thinks the mortgage-packaging market ought to be a pure government agency, and of course I think it ought to be handled entirely by private companies. Thanks for the link, useful to know what other people think. Query, how does the “incorporation” of the FDIC differ in any meaningful way from FNMA or FHLMC?

By Soothsayer

July 14, 2008 11:54 AM | Link to this

[“…in my opinion, there never was a good War, or a bad Peace. What vast additions to the Conveniences and Comforts of Living might Mankind have acquired, if the Money spent in Wars had been employed in Works of public utility!”

—-Benjamin Franklin, 1783 - quoted from a letter to Joseph Banks.](http://www.americanenergyindependence.com/biodiesel.html)

By jungleland

July 14, 2008 11:55 AM | Link to this

I don’t want my tax dollars going to bail out people who bought homes they could not pay for - I ALSO don’t want my tax dollars going to companies who sold loans to people who should not have qualified. Why am I forced to choose between two parties that want to TAKE MY MONEY and give it to people who made bad choices?

I saved, scraped,moved back in with my parrents for 6 months!, drove a 10 year old car and then put 20% down on my dream house. I made good decisions, why should this cost me?

By jm

July 14, 2008 12:02 PM | Link to this

I wonder why Mr. Wooten does not mention that sovereign wealth funds invest heavily in both Fannie Mae and Freddie Mac.

Also, while Freddie Mac and Fannie Mae convert mortgages into securities, only a small percentage of their holdings were sub-prime mortgages. Most of their holdings were traditional mortgages (kind of like the one I assume Dusty has).

By dusty

July 14, 2008 12:07 PM | Link to this

Well children…I’m off to lunch (I’m thinking of a double rack of ribs, garlic toast, baked beans, and a slab of chocolate cake.

Ohhhhh, Mr. Dusty is not going to be happy tonight when I come lumbering home!

Oh, well. He’s just going to have to suck it up.

See ya Later…Gator!

By hillbilly ragger

July 14, 2008 12:08 PM | Link to this

“Query, how does the “incorporation” of the FDIC differ in any meaningful way from FNMA or FHLMC?”

Heh. If I knew that, I’d probably be runnin’ one a’ them fancy-pants eekonomix blogs.

BTW, if Atrios isn’t hardcore-economic enough for you, ever checked out Calculated Risk, which has been covering the credit crisis for some time? I happen over there from time to time. Lotta good stuff, until my brain starts to hurt.

By hillbilly ragger

July 14, 2008 12:22 PM | Link to this

Well, Jungleland @ 11.55, I hear ya. And if you’ve figured out a way to have a functional government that never, ever has to bail out those who’ve made poor decisions, you let us know, ok?

Most of us must recognize that part of the cost of doing business in real life is to set aside a chunk to help others. Not all of those “others” are especially deserving.

Like you, I’ve always made what I thought were responsible decisions about debt to finance a home. I’ve never been behind on a payment, always coughed up at least 10% (twice I managed 20% or greater) for a down payment. Ticked me off to no end to see credit being extended to some, for no other reason than a presumption that the property values would continue to leap at historically unprecedented rates.

I’m not saying there’s no place for the tough-love approach, just that it’s unrealistic to think you won’t be “bailing out” people in all kinds of unsavory ways for as long as you’re likely to earn a living.

And don’t be so sure you’ll never need to be bailed out, yourself. That’s kinda the way it works.

By dirty harry

July 14, 2008 12:23 PM | Link to this

By time for the cyber lynching of aborted foreskin truth: SNIGGER

July 14, 2008 12:09 PM | Link to this

PoFo’s inbred mammy…

NEWSPAPER DELIVERY BOY…I thought we discussed your…uh, shall we say mental condition!

Falling off your bicycle, and smacking your head on the pavement is not condusive to your mental health!

Now, like a good boy put your training wheels back on, and in a day or two of not tipping over you’ll remember who you really are!

By BFKaJ

July 14, 2008 12:24 PM | Link to this

Dear Dirty @ 11:52, I believe I have read every article I mentioned in the link, but I suppose it is theoretically possible I missed a couple. My subscription to WSJ did not commence last week. Surely my arguments on FNMA over the past couple of years reveal the biases planted in my mind by WSJ?

Dear jm @ 12:02, great argument on the substance, but don’t fault Mr. Wooten. He is on our side of this one.

By Mrs. Godzilla

July 14, 2008 12:34 PM | Link to this

Despite Aversion To Golfing During The War, Bush Will Attend A McCain Golf Fundraiser Hosted By His Parents….

* Guess “I think playing golf during a war just sends the wrong signal” was just another Bush lie*

By dirty harry

July 14, 2008 12:38 PM | Link to this

Mr. pompous lawman…I don’t give a RATs A** when you subscription commenced.

I was merely pointing out the fact that most of the time this debacle was coming to a head. REPUBLICANS controlled the house, the senate and the presidency.

By Dusty

July 14, 2008 12:43 PM | Link to this

Well, somebody seems to be fascinated with my ID. ID Thief@12:07

Some people may think that is complimentary but FROM A BUG EYED LIB ..phweee! And obviously a fat, dumb one at that. Maybe all of them are like that.

Mrs. Godsy covers her ‘lack of’ with ‘cut’n’paste’. Other libs plain out lie and others act like Bush is running for reelction. The Obama supporters want us to change to an inexperienced smooth talking anti war medicine man with a Napoleon complex already showing. What a gang!!

The biggest laugh of all is the socalled distasteful cartoon of Obama on the cover of Time. The joke is..after years of ugly lampoons of George W. Bush by LUCKOVICH, these libs who love Lucko, want to take offense at ONE cartoon reflecting Obama and his associate’s past revelations. Take it on the chin, libs. You asked for it.

By Do the math

July 14, 2008 12:49 PM | Link to this

No tax payer money should go to bail out stock holders of companies. Let them fail and devalue the golden parachutes of executives.

Government spending is out of control. Stop digging!

By AJC/DNC Management

July 14, 2008 12:50 PM | Link to this

By dirty harry July 14, 2008 12:23 PM By time for the cyber lynching of aborted foreskin truth: SNIGGER NEWSPAPER DELIVERY BOY…I thought we discussed your…uh, shall we say mental condition!

Speaking of “mental conditions:”

What Are Delusional (Paranoid) Disorders?- Delusional Disorders are a form of Psychosis in which a person has paranoid delusion(s) which are often long-lasting, and do not have an obvious physical/medical cause (e.g. head injuries). Occasionally, in older people, they may be accompanied by the person hearing noises, sounds, other people talking, which don’t exist

Whackjob.

By fearless fosdik

July 14, 2008 12:51 PM | Link to this

By Dusty

July 14, 2008 12:43 PM | Link to this

Dusty…Bush is running for reelectiion!

Only he’s changed his name to John McCain..

By filthy harry (reid's toyboy)

July 14, 2008 12:56 PM | Link to this

@ filthy harry (reid’s toyboy)

THAT nerdish drivel ridden MINDLESS bollux is supposed to be funny/witty - your best riposte????

Christ - even a dead rabid squished possum could do much better than that!!

Happily that recent court ordered electric shock treatment has really taken its toll … never mind diddumsturd … y’all can always improve Atlanta’s collective IQ and visual/noise pollution having a sponsored (by move your bowels.org and Code PinKKKO ) jump off holding cement blocks off the 14th Street Bridge tonite and give us all a little larrrrf on the 11 o klock/Glock Monika KKKaufman’s WSB lies fest!!!

smirk

By Mrs. Godzilla

July 14, 2008 1:01 PM | Link to this

While the U.S. oil industry wants access to more federal lands to help reduce reliance on foreign suppliers, U.S.-based companies are shipping record amounts of gasoline and diesel fuel to other countries. A record 1.6 million barrels a day in U.S. refined petroleum products were exported during the first four months of this year, up 33 percent from 1.2 million barrels a day over the same period in 2007. Shipments this February topped 1.8 million barrels a day for the first time during any month, according to final numbers from the Energy Department. The surge in exports appears to contradict the pleas from the U.S. oil industry and the Bush administration for Congress to open more offshore waters and Alaska’s Arctic National Wildlife Refuge to drilling.

AND

(WASHINGTON) A lawmaker will seek a broad review of exports to Iran to see whether exemptions to U.S. trade sanctions are being abused. Cigarettes, bull semen and other goods have gone Iran’s way as exports grew during President Bush’s time in office. Rep. David Scott, vice chairman of the House subcommittee on terrorism, nonproliferation and trade, said Friday that he will press for a congressional review of sanctions enforcement following an Associated Press investigation that found U.S. exports to Iran rose from about $8 million in 2001, Bush’s first year in office, to nearly $150 million last year.

I understand that we export a large number of bras to Iran. Is that support Iran can live without?

By dirty harry

July 14, 2008 1:03 PM | Link to this

By filthy harry (reid’s toyboy)

July 14, 2008 12:56 PM | Link to this

@ filthy harry (reid’s toyboy)

PAPERBOY, you are BACK! And, with a new name no less!

Hearing any NOISES, SOUNDS that don’t exist?

Momma warned you about not wearing your helmet while ZOOMING around on your trike.

TIP OVER MUCH?

By BFKaJ

July 14, 2008 1:13 PM | Link to this

Dear Dirty @ 12:38, at risk of beating a dead intellect, who is James Johnson and what responsibility would you assign to him for the criminal accounting by FNMA, so integrally related to the collapse today? Is he not the “Ken Lay” of the Obama campaign? It seems to me that you absolve the criminal and fault the constable for failing to detect?

By filthy harry (reid’s toyboy)

July 14, 2008 1:13 PM | Link to this

@ filthy harry (reid’s toyboy)

talk about being thicker than afrocentricdogsqueeze

Hint: its NOT a new name dimmerthanmaxinewaters/michelle sullenbitchHussein Obama dickweed, just a moderately witty sardonic mockery of UR (see I even magnaminously inkluded some ebonics for U) latest anally unfunny sicker than San Fran SicKKKo bollux.

By Peter

July 14, 2008 1:13 PM | Link to this

Hey ……..By Mrs. Godzilla………

Besides Bras……….

Also Bull semen………..

I thought the Republicans would have wanted that for their bathroom parties !

By Dusty

July 14, 2008 1:21 PM | Link to this

fearful fosdic 12:51

You could change your name to Woeful Willie but nobody cares. You’d still be pointless and pitiful.

By Little Willy

July 14, 2008 1:32 PM | Link to this

Dusty

its deliciously cruel to pick on sick anal obsessives like Woefully Little Willie or Little Limp Willie.

Bet it spends hours listening to that old 70’s classic Little Willy by the glam rock heroes The Sweet

Willy won’t go, try tellin’ everybody but, oh no

Little Willy, Willy won’t go home

Little Willy, Willy won’t Willy won’t, Willy won’t Little Willy, Willy won’t Willy won’t, Willy won’t Little Willy, Willy won’t Willy won’t, Willy won’t Little Willy, Willy won’t Willy won’t, Willy won’t

Little Willy, Willy won’t go home

By Mrs. Godzilla

July 14, 2008 1:33 PM | Link to this

BFKaJ

Please tell us how Jim Johnson is integrally involved in the Fannie MAe/Freddie Mac situation? Tell us how it is fair to compare him to Ken Lay.

By dirty harry

July 14, 2008 1:39 PM | Link to this

By filthy harry (reid’s toyboy)

July 14, 2008 1:13 PM | Link to this

@ filthy harry (reid’s toyboy)

Paperboy…You are the gift that keeps on giving!

Now off with you!

By BFKaJ

As a lowly airline captain I have no idea who James Johnson is (wasn’t he a boxer?)

You sound like that smarmy little BILLY KRYSTOL republican tool…who’s living off his daddy’s name.

As Dusty would say…Got to go..have an 8:45 to Oslo…See ya’all in a couple of days.

filthy harry ….Will you MISS ME?

By Peter

July 14, 2008 1:47 PM | Link to this

Very interesting By Mrs. Godzilla ……why do we have American Oil companies EXPORTING Gas and Diesel?

Is that part of the……….. “BUSH Energy Policy” for becoming more independent on Foreign oil ?

Gosh funny McCain sees himself as the under dog……..and is relishing that role……..

After 8 years of BUSH ………… any Republican Running may well be the underdog !

By filthy harry (reid’s toyboy)

July 14, 2008 1:56 PM | Link to this

@ filthy harry (reid’s toyboy)

so this illegal mexican sex offender leech is finally being deported and is feverishly posting valeDICKtory (gedditt??) crack pipe delusions @ being a pilot!!!

make absolutely sure you use the OUTSIDE TOILET tw @atface on the aeroplane when its flying over the corrupt greasehole known as Mexico.

By fearless fosdik

July 14, 2008 1:58 PM | Link to this

DUSTY..What is pointless and pitiful about equating GWB to John McCain?

Seen one, Seen them all…Two peas in a pod!

McCain=Bush!

CASE CLOSED!

By PoFo's other inbred mother, Daryl

July 14, 2008 2:07 PM | Link to this

McCain 08: No fat chicks.

If that was McCain’s real platform, he’d have my vote. No fat chicks. Of course. Talk about a shortcut to xanadu.

Shangrila 08: Eject fat chick here.

By getalife "whiners"

July 14, 2008 2:11 PM | Link to this

More banks will fail.

Stop whining.

By Rufus

July 14, 2008 2:12 PM | Link to this

Well, well, well. Two weeks off this blog and it’s gone to hell in a handbasket run amok with the disease of liberalism. The forum blog vulture liberal is still infatuated with me I see based upon some earlier posts, my favorite of our wicked snake representative of the diseased left being found here from the weekend.

You have to remember that this is the same liberal disease that has chastised me for posting on a Saturday and/or a Sunday. Yeah, THAT asshat who can’t take a dump without worrying about what’s been posted by some Con here. But, that’s neither here nor there. I’m trying to get back into a normal time zone life now and will be here for the next four hours today exposing the disease of liberalism for what it is. What fun we are going to have today!

By BFKaJ

July 14, 2008 2:15 PM | Link to this

Dear Dirty @ 1:39, I would be pleased to oblige, although I think your invitation is half-hearted. James Johnson, as CEO of FNMA throughout the Clinton years, erected the political “influence-buying” structure that survives today, and is the object of the WSJ articles I referenced earlier. That political influence insulated FNMA from standard financial accounting standards, and created a entity where fee income –misreported under FAS – became the basis for the compensation system. Mr. Johnson was compensated handsomelym based on the short-term effects of his policies. Because of his extensive and continuing political connections, Obama asked Mr. Johnson to be one of the three members of his vice presidential search committee.

http://www.heraldtribune.com/article/20080713/ZNYT01/807130397/1668

By fearless fosdik

July 14, 2008 2:17 PM | Link to this

By Mrs. Godzilla

July 14, 2008 2:03 PM | Link to this

MRS GODZILLA..Carly Fiorina has ruined two companies under her mismanagement Lucent and HP…She is a joke. Like Phil and Wendy Gramm are…Her view of tax cuts are for the people like Cindy McCain and herself.

The day her and John McCain are for tax cuts for the middle class are the day I turn into that PUMPKIN!

By Mrs. Godzilla

July 14, 2008 2:27 PM | Link to this

BFKaJ

Nice piece….read it yesterday…

But what does any of that have to to with Jim Johnson being integrally involved in the current situation? How does any of that support your meme that equates Johnson to Ken Lay?

Johnson left Fannie Maein 1998 - ten years ago. Seems like a stretch to me.

Paul Krugman writes in the NYT:

“But here’s the thing: Fannie and Freddie had nothing to do with the explosion of high-risk lending a few years ago, an explosion that dwarfed the S.& L. fiasco. In fact, Fannie and Freddie, after growing rapidly in the 1990s, largely faded from the scene during the height of the housing bubble.

Partly that’s because regulators, responding to accounting scandals at the companies, placed temporary restraints on both Fannie and Freddie that curtailed their lending just as housing prices were really taking off. Also, they didn’t do any subprime lending, because they can’t: the definition of a subprime loan is precisely a loan that doesn’t meet the requirement, imposed by law, that Fannie and Freddie buy only mortgages issued to borrowers who made substantial down payments and carefully documented their income.

So whatever bad incentives the implicit federal guarantee creates have been offset by the fact that Fannie and Freddie were and are tightly regulated with regard to the risks they can take. You could say that the Fannie-Freddie experience shows that regulation works.”

By dusty

July 14, 2008 2:30 PM | Link to this

Hi…I’m back

The ribs were deliciuos!!!

And the cake scrumptious.

The beans .. Oh, Oh, must be off to the restroom …

Mr. Dusty is not going to be happy.

It’s all those LIBS fault…

John McCain good BEANS…Obama bad BEANS!

By Hillbilly Deluxe

July 14, 2008 2:33 PM | Link to this

My Grandpa used to say that “we’ve got the crookedest bunch of SOB’s in government today that we’ve ever had”. Wonder what he would say if he were alive to see the mess today?

By Rufus

July 14, 2008 2:34 PM | Link to this

From July 2:

This morning was downright cool in the Charlotte region — cool enough to break a record that had stood for more than a century. The temperature at Charlotte/Douglas International Airport was 56 at about 5:30 a.m., breaking the July 2 record of 58, set in 1885. The normal low for this time of year is 70.

Uh huh. Right now my weather station is showing 83.7 degrees.

In July.

In the South.

In Georgia.

But it’s global warming caused by Neocon soccer nazi mom SUVs with the “W” stickers on the back folks!

Of course, it’s because of La Nina that we are experiencing unusually cool weather patterns (uhm, that’s a NATURAL occurring event for you blue haired nippled pierced liberal freaks in Little Five Points). Ever wonder why these same diseased hysteria-driven dribble drabble liberal socialists don’t talk about El Niño or sun activity causing warming around the globe?

Convenient and slick as bull snot, no? Almost like an Inconvenient Truth.

Side note I forgot to mention in my previous post: let’s give our resident troll from hell credit for the first time in blog history here acknowledging that I am on AJCM.

By Dusty

July 14, 2008 2:41 PM | Link to this

No, I am not back. ID thief @2:30 Not the real Dusty, just the same ol lib.

Maybe Wooten will start a policy like Bookman. ID Thieves will be removed from the blog. Good idea.

By Rufus

July 14, 2008 2:42 PM | Link to this

Man did I miss some news:

JONESBORO, Ga. - A daughter’s refusal to stay in an arranged marriage led to her death and resulted in her father’s arrest, according to police in Clayton County. Sandeela Kanwal, 25, was strangled on Sunday, police said. They allege that Chaudhry Rashid, 54, argued with his daughter, then choked her to death at the family home in Jonesboro.

Anybody care to explain why the word “Muslim” was excluded from this story? Anybody want to bet that if it were a Christian and/or preacher that killed his own daughter in the name of disgrace that his/her religion would have been mentioned? What is our mainslime media run by a bunch of diseased liberals afraid of?

By Rufus

July 14, 2008 2:48 PM | Link to this

What the… why doesn’t the blog refresh?? Repost!

From July 2:

This morning was downright cool in the Charlotte region — cool enough to break a record that had stood for more than a century. The temperature at Charlotte/Douglas International Airport was 56 at about 5:30 a.m., breaking the July 2 record of 58, set in 1885. The normal low for this time of year is 70.

Uh huh. Right now my weather station is showing 83.7 degrees.

In July.

In the South.

In Georgia.

But it’s global warming caused by Neocon soccer nazi mom SUVs with the “W” stickers on the back folks!

Of course, it’s because of La Nina that we are experiencing unusually cool weather patterns (uhm, that’s a NATURAL occurring event for you blue haired nippled pierced liberal freaks in Little Five Points). Ever wonder why these same diseased hysteria-driven dribble drabble liberal socialists don’t talk about El Niño or sun activity causing warming around the globe?

Convenient and slick as bull snot, no? Almost like an Inconvenient Truth.

Side note I forgot to mention in my previous post: let’s give our resident troll from hell credit for the first time in blog history here acknowledging that I am not AJCM.

By AJC/DNC Management

July 14, 2008 2:48 PM | Link to this

Oates and the 10th Mountain Division (Light Infantry) took over for the 3rd Infantry Division in June. They’ve found a country where Iraqi people actually invited Coalition forces into their own homes; children play ball with Soldiers in the streets and welcome them to their schools.

Cheney was right, as usual, they did welcome us.

Bwa.

By Rufus

July 14, 2008 2:54 PM | Link to this

See what hysterical diseased liberalism gets you? And some of you want these socialist fanatical whimsical over-emotioned mindless zombies running ALL branches of our government? Unreal. But, liberalism is built upon unreality and some bullcrap pipe dreams of Utopian standards, so, again, what else is new from the land of the mindless left wing liberal hysterics.

Scientists say the jury is still out on whether rising sea temperatures will cause more hurricanes to hit U.S. coastlines. Yet some insurance companies are boosting premiums based on assumptions that they will. Others are withdrawing from coastal communities altogether. Last year, Leanne Lord of Marion, Mass., decided to put her house up for sale after her insurance premiums more than doubled to about $2,892 a year since 2005. Many of her Cape Cod neighbors, who hadn’t seen a hurricane in the area since 1991, followed suit. Today, there’s a glut of houses on the local market.

By Tim

July 14, 2008 2:57 PM | Link to this

Rufus @2:42

What difference does in make that they were Muslim? A murder was committed and it was reported. You are a fool who is attempting be be divisive but you are not even on topic.The blog today concerns the status of Fannie and Freddie. Take the hate back to the members of the Oiver North fan club. This is not the day for that foolishness….TURD!

By Dusty

July 14, 2008 3:00 PM | Link to this

AJC/DNC Management @2:48

I enjoy reading the positive reports you give us from the troops in Iraq. We don’t hear many of those good activities but I believe they happen often. Thanks for your input.

By Rufus

July 14, 2008 3:01 PM | Link to this

Ever notice how when it doesn’t hit FREAKING 100 DEGREES in July that the diseased liberals crawl out from under their moldy rocks and attempt to validate is as the “chaotic nature of weather?”

No sh`t. TWO YEARS we had NO hurricanes that you Algorebot morons said we’d have MORE of right after Katrina because of “global warming.” TWO WHOLE SEASONS. WRONGLY FORECASTED.

And you mindless drones want to REALLY send our economy into the toilet for some junkassed science like that, AND give OUR MONEY to corrupt third world nations for this farcical crapola. Yep. Convenient and slick and bullsnot.

You mindless morons on the left have FAILED in another hostile anti-capitalist socialist takeover of this nation.

By PoFo's other inbred mother, Daryl

July 14, 2008 3:03 PM | Link to this

Y-y-yeah! What the blog do with the r-r-refresh?

Dusty, nobody cares if an ID thief uses your ID. We know when it’s you. You always post partisan. We dont even have to read it. We know what it’s going to say.

Now, if McCain’s wife is first lady, then it’s camelot, well, cameltoe anyway, if’n you know what I be intimatin’ this day.

I like McCain. If he starts talking about how we’re gonna rid this country of fat chicks, then he’s got my vote. I’d rather continue another 8 years of Bush/Cheney or Rove, than see one more fat chick.

Sorry, I’m not gay, so that’s the way most men think, and most voters.

the first candidate to adress the fat chick problem in the USA wins.

Thats4sureThats4dangSure

PS: that’s how Osmama bin laden got into power, with a promise of easier to transport bio-weapons, and no fatwah chicks.

Get it? no fatwa chicks? Fatwa? the islamic rules committee or something? get it?

I know, drop it.

By BFKaJ

July 14, 2008 3:05 PM | Link to this

Dear Mrs. Godzilla @ 2:27, thanks for asking. Ken Lay designed the Enron system, that falsely booked as immediate income the income more properly deferred over the life of the contract, and received bonus payments for his work that boggled the mind. Substitute “James Johnson” for “Ken Lay”, and substitute “FNMA” for “Enron”, and you have a perfect analogy to that point. Both Enron and FNMA collapsed when their false reporting triggered a financial collapse, and inability to further fund their programs. The only significant difference is that George W. Bush never asked Ken Lay to be one of three to suggest his VP. I suppose we would all agree that George W. Bush thus demonstrates better judgment than Barack Hussein Obama.

By Rufus

July 14, 2008 3:07 PM | Link to this

Tim, if you have to ask and the hypocrisy goes right over your unused head, then you must be a diseased liberal. TURD.

Anyway…

Obama the smartest man on the globe! He’s almost as smart as those who freaking PASS OUT in his very presence!

“Dean Barnett noticed a stunning level of ignorance by Barack Obama about the command structure he seeks to head as commander-in-chief and blogged about it at The Weekly Standard.”

“When Obama held his second press conference late last week to address his ever more slippery position on withdrawing troops from Iraq, he stated:”

**"I am absolutely committed to ending the war," the longtime community organizer declared. "I will call my Joint Chiefs of Staff in and give them a new assignment and that is to end the war."**

“Barnett explains well the role of Joint Chefs as a staff unit, which provides advice to the commander-in-chief. In order to avoid conflicts within their respective services and provide clear advice, the joint chiefs are by law excluded from the command structure. The command structure (what is called the “line” part of the organization in corporate organizations) consists of people like General Petraeus, who actually run the military organization through its structure of commands. Barnett comments sarcastically:”

"Surely Obama knows this. Obviously he wouldn't be seeking the role of Commander-in-Chief without knowing how the job is done."

“Obama has such a naive view of running organizations that he doesn’t appreciate way they actually work. Just call in the guys with braids on their uniforms and give orders.”

“The problem goes well beyond the specifics of the basics of the military command structure. Obama has no leadership experience in large organizations whatsoever. He doesn’t even know what questions an incoming executive should ask, in order to formulate effective policies.”

Any more questions on why the Obamaniacs limit Obama’s access to the media and public venues?

By BFKaJ

July 14, 2008 3:09 PM | Link to this

Further, Mrs. Godzilla, by “left 10 years ago” you omit Johnson’s continuing control of the “FNMA foundation,” the lobbying arm. Otherwise we would agree that the “subprime” bubble had nothing to do with the collapse of FNMA, which is entirely attributable to the misreporting of financials, a system erected by Johnson.

By fearless fosdik

July 14, 2008 3:11 PM | Link to this

By Rufus

July 14, 2008 2:48 PM | Link to this

Rufus you gave the same weather report yesterday under the moniker “AJC/DNC Management”

SO. Are you Rufus..AKA AJC/DNC Management”,AKA filthy harry (reid’s toyboy)..AKA Vidal Suisun..AKA PoFo’s other inbred mother, Daryl..AKA? Did I leave any of your goofy monikers out?

I think one of the other bloggers “Dirty Hairy” had it about right.

You have been whacked on the head one two many times!

It’s not a good sign when you post something, then respond to that post.

Get my drift?

By PoFo's

July 14, 2008 3:14 PM | Link to this

Rufus just hung Rummy and Cheney, who both conspired to belay the order to attack OBL in Afghanistan when the CIA had him surrounded in the late summer of 2002.

No backs. No vice versas. No changies.

McCain 08: No fat chicks. I’m serious. Have you seen his wife? He wouldn’t maryy a fat chick. We shouldn’t either. We need a man in the white house who’s allergic to fat chicks. He’s got my vote, and he better have yours.

No Fat chicks 08: Insert babes here.

By fearless fosdik

July 14, 2008 3:16 PM | Link to this

By BFKaJ

July 14, 2008 3:05 PM | Link to this The only significant difference is that George W. Bush never asked Ken Lay to be one of three to suggest his VP.

How do you Know?

We do know that Kenny “boy” was included in the Energy policy that Dick Cheney formulated!

By Mrs. Godzilla

July 14, 2008 3:17 PM | Link to this

BFKaJ

Sorry, but I’n not convinced.

Please provide proof that like Ken Lay, Jim Johnson “falsely booked as immediate income the income more properly deferred over the life of the contract, and received bonus payments for his work that boggled the mind. “

By Tim

July 14, 2008 3:21 PM | Link to this

BFKaJ @ 3:05

Correction, Jeff Skilling designed the ENRON accounting plan. Ken Lay just signed off on it. FYI

By Rufus

July 14, 2008 3:23 PM | Link to this

Man is the liberal lamestream media running from the Jesse Jackson “nuts” comment on Obama or what? Wow did that story flame out faster than the queen insane liberal Rosie O’Donnell sitting on a campfire. Now who is Rev. Corporate Shakedown going to blame that on? Feaux News? LMAO.

More on the diseased of liberalism which was touched on by someone else here earlier today:

New data from the IRS will be out in a few weeks on who pays how much in taxes. My contacts at the Treasury Department tell me that for the first time in decades, and perhaps ever, the richest 1% of tax filers will have paid more than 40% of the income tax burden. The top 50% will account for 97% of all federal income taxes, while the bottom 50% will have paid just 3%.

“But Barack Obama has decided the rich still don’t pay enough. He would redistribute the tax burden even more heavily on small business owners and the entrepreneurial class (two-thirds of the tax filers in the highest income tax bracket are small-business owners.) The nonpartisan Tax Foundation’s Scott Hodge has just crunched the numbers on the Obama plan and concludes that “more than $131 billion would be redistributed from the top 1 percent of taxpayers to all other taxpayers.”“

“Sounds fair, no? Only 1.13 million taxpayers, out of some 128 million, would end up paying higher taxes, according to the Obama camp.”

“But in the real world, who ends up paying a tax is not just the person on whose tax return it falls. History has demonstrated time and again that raising tax rates on the wealthy in the name of “redistribution” leads to so much income shifting, reduced work and investment, and redeployment of money into tax shelters, that the rich usually pay less, not more taxes, at higher rates. The burden of paying for government shifts to others, including some who may not file an income tax return at all – because they no longer have jobs or no longer earn enough to pay income tax.”

Like hell. You think these diseases on the left that support that man care where investment money comes from? Come on. These mindless moonbat liberal neo-Marxists think that all money belongs to the government.

What, you think working your @ss off will get you somewhere in life like those oppressive “old days” of bygone? WTF are you smoking?

Obama for change!

By Tim

July 14, 2008 3:24 PM | Link to this

BFKaJ @ 3:05

Correction, Jeff Skilling designed the ENRON accounting plan. Ken Lay just signed off on it. FYI

By Tim

July 14, 2008 3:25 PM | Link to this

BFKaJ @ 3:05

Correction, Jeff Skilling designed the ENRON accounting plan. Ken Lay just signed off on it. FYI

By PoFo's

July 14, 2008 3:30 PM | Link to this

Has anyone else noticed that Wooten is usually wrong, or his articles are filled with half truths and are very misleading?

Today’s piece is especially rank with distortions. But you know what? I’m glad.

Let him have his conservative bail out. Let then go. They’re going to pilfer the treasury before Bush leaves anyway, so what if it’s a bailout or just a phony Enron scam. who cares. good riddance.

But I’m serious about the cyclical nature of both the economy and variations in global mean temperatures.

Now we cant do anything to change planet formation. Sorry. Even liberals concede that.

But we must re-examine capitalism. It’s cyclical. Boom and Bust. We know it. The world knows it. Even Bob Dole knows it.

That means as thinking, moral people, we have to realize that hard times are inevitable, and we must amend capitalism’s founding documents: The laissez-faire doctrine. (Wooten’s middle name)

Look at this: A fireworks factory sets up in your neighborhood, and provides jobs and everyone is happy then one night the night-watchman gets drunk and lights a cigar and the whole neighborhood is blown to smithereens.

Surely, you would say, “we have to make some enforceable rules so this never happens again.”

All I’m saying.

All I’m saying.

Okay, I’m also intimating that Wooten is a partisan sellout, an unforgiveable sin in jouralism. You cant edit. You cant take sides on the news. Who does he think he is, Citizen Kane?

Not so much Rosebud, as Blowspud. Wootie and Blowtrolls. I love it!

By Rufus

July 14, 2008 3:31 PM | Link to this

“It’s not a good sign when you post something, then respond to that post. Get my drift?”

Moonbat liberal foosdik: I just came from where it was 65 degrees in July. I expected it to be 90+ here. It wasn’t and isn’t. I’m happy.

Who other posters here you think I am is about as much concern of mine as last night’s toilet flush. Get my whiff you diseased liberal trash?

By fearless fosdik

July 14, 2008 3:32 PM | Link to this

Another South Carolina Goofball trying to explain the difference between Bush and McCains economic policy.

Mark Sanford (R-truthifier) http://www.crooksandliars.com/2008/07/13/governor-mark-sanford-rsc-goes-blank-trying-to-find-differences-between-mccain-and-bushs-economic-policies/

WATCH IT HERE!

By Andy's Mom

July 14, 2008 3:40 PM | Link to this

Oh dear. Yes, that was my Andy posting at 3:01, not Rufus. Andy and Rufus blew up the wading pool and are taking a nice little skinny dip. They both brought their laptops so they could still blog and Andy picked up the wrong one after they got through playing “Marco Polo.” Needless to say Rufus checked the “Remember me?” box so Andy’s post was wrongly entered as Rufus. Oh dear. Can you fix that Mr Wooten?

Rufus is spending the night with Andy so it could happen again. They’re sleeping in Andy’s tent. They always take an empty bottle. They are going to make Smores. Andy wears rubber pants so he won’t be embarrassed.

They’re having SpaghettiO’s and Kraft Macaroni and Cheese for dinner. I better go, they’re out of Kool-Aid.

God bless you.

By ron

July 14, 2008 3:41 PM | Link to this

Po Fo’s inbred mother,I’m thinking that somewhere along the line worth will have found to have been overstated thereby allowing the top to collect performance related compensation they don’t deserve.I call such action stealing.Let’s see if this comes out before we go too deeply into name calling.

By Rufus

July 14, 2008 3:43 PM | Link to this

Pelosi’s Congressional report card is in. Well, like, the hell else did you expect from a “leader” like her who’s more concerned about the origins of food served in Congress and what kinds of plants should match a certain color of curtains in the Congressional halls? Yes, Republicans are to blame here too, but, Pelosi said she was going to “drain the swamp” and start fresh with effective leadership. Yeah right - millions bought into that bullsnot just like they are buying into the “change” from Obamaniac nonsensical whims. You can’t blame Republicans on Pelosi and Reid’s incompetence and failures, idiot liberals.

Despite assurances that it would be different this time (heard that one before?), as of July 4th the 110th Congress has passed 260 laws—the lowest over the last three decades. This breaks the previous record low of 293 for the 104th Congress, which was the first after the 1994 “Republican Revolution”. Of the 260 public laws passed in the 110th, 74 are for naming post offices and only about 148 could be called ‘substantive’ laws, a term used loosely considering that this substantive legislation includes a law requiring the flag be flown on Father’s Day. And 8 of the 148 were “must pass” appropriations bills.

By fearless fosdik

July 14, 2008 3:44 PM | Link to this

gee RUFUS I thought you were hanging out by your Neighbors Pool Saturday? 65 degrees?

I don’t think so!

You have so many names, tough to keep up with…especially when you are mentally challenged.

Wear your helmet..OK?

By UberPudwit

July 14, 2008 3:50 PM | Link to this

You know rufus is duhng and andy and glenn and that other idiot whathisbutt, right?

Dont matter.

I’ve already conceded that global warming is a planetary formation variable that occurs in cycles with global cooling. God made it that way.

To blame man’s 100 years of horseless carriages is naive to say the least. Especially when the data sample is totally insufficient. You simply need more data. (more cowbells too).

Especially more cowbells. (which brings up McCain’s new campaign slogan, “No Fat Chicks)

But that doesn’t excuse duhng’s obnoxious comments. I figure Duhng is some Wooten constituent. Maybe they served in Nam together. Maybe the guard. I dont know, dont care. I just know that the two of them go together like matches and farts.

Real flamers.

By Rufus

July 14, 2008 3:50 PM | Link to this

M-kay. What part of 97% of federal income taxes paid by the top 50th percentile does the resident Godzillaqueen not understand? No, I will not waste more energy on that. Facts are facts. Liberals and hysterics are, well, what the F they are. WHATEVER the F they are…

Blog troll @3:40PM: do you really think others here like myself care what you think, you nappy-headed liberal neo-Comm disease from hell? You are one ugly human being. And I mean UG-LY.

By dusty's husband

July 14, 2008 3:52 PM | Link to this

All, Just want to report on Dusty’s stomach cramps…

Those BEANS (WHEW) have given her some BAD gas!

Looks like I’ll be on the sofa tonight (Nothing unusual)

By Rufus

July 14, 2008 3:58 PM | Link to this

I can see my presence here has the pink skirt liberal apes slinging feces again. It’s so fun just taking a night stick and rattling the hell out of their nasty smelly cages of diseased liberalism.

Anywho, as if I or anyone else really cares what the blog obsessed disease thinks…

Top Democrat may back new offshore drilling: report

You don’t say. Gee, you think one of those mindless goons that other mindless goons elected has actually found a serum and woken up out of the liberal Dimwitocrat snafu of “thought?” I’ll believe it when I see it:

NEW YORK (Reuters) - A top U.S. Democratic senator said in a newspaper interview published Wednesday that he would consider supporting opening up new areas for offshore oil and gas drilling. “I’m open to drilling and responsible production,” Senate Majority Whip Richard Durbin told The Wall Street Journal, adding that Senate Majority Leader Harry Reid could also support the move.

Nice move for once, Durtbin, Mr. “Our soldiers are Nazis.”

By UberPudwit

July 14, 2008 4:03 PM | Link to this

Andy’s mom. According to the reply you got from Rufus, you got him right between the eyes. What a cream! OMG!

You’re good, kid. You’re real good. And I know, cause I’ve seen real good many times. Real good too.

You’re good!

By dusty

July 14, 2008 4:07 PM | Link to this

After Reading RUFUS’s nonsense I have officially changed my allegience to the DEMOCRATIC party!

I refuse to align myself with such a MORON!

Oops…Sorry…Those REPULICAN made beans are affecting my sweet little tummy!

Got to go Hubby is holding his nose!

By Rufus

July 14, 2008 4:10 PM | Link to this

My gawd I just love these stories. But they upset the disease of mindless pantywaste pansyassed liberalism that hates the right to own a gun:

SAN ANTONIO — A 30-year-old homeowner shot an intruder Monday night while his pregnant wife and their 2-year-old baby were in the home, police said. Stephen Garcia, 21, broke into the home at around 9:30 p.m. in the 6500 block of Arris Pass on the city’s northwest side, police said. Brian Stevens’ wife was alone at the time with her baby when she realized someone was trying to break into their home, police said.

“Stevens ran inside to get his gun and located the intruder in the kitchen. Stevens then pointed the gun at the intruder, police said. “I had my gun and I was pointing it at him,” Stevens said. “And I was telling him, ‘Get out of my house’ a bunch of times.”“

Now just why the hell this guy even wasted time telling that POS to get out of his house is beyond me. Let the government clean up the splattered brain material. He was “threatened.”

Case closed.

By Rufus

July 14, 2008 4:24 PM | Link to this

Ah yes. Liberalism in this nation at its finest has now encroached itself into the Miss America pageant. Now we have nasty s|uts representing America in a beauty pageant with gang signs and sexual innuendos known only to gangs.

Keep up the good work America, the disease of “open minded” and “enlightened” liberalism is doing you proud.

Wouldn’t you just love to know that these s|uts are Obama lovers and Class A liberals with “diversity” and “women’s empowerment” promotion?

God help rid this nation of the disease of corrupt and mindless liberalism.

By United we Stand

July 14, 2008 4:28 PM | Link to this

You people, democrats AND republicans are complete idiots. No wonder this country has so many problems. While the financial and housing markets go down the tubes, you all are relegated to simpleton namecalling. You all are pawns in this game. Your money is being used to bailout millionaires while your property values, republican or democrat, go down the drain. Republicans want more oil drilling offshore, how much will it reduce the price of gas this month? this year? None.

That universal healthcare democrats want, won’t happen anytime soon. There won’t be any way to fund it. You all really need to wake up, and see the damage being done to your stock portfolios, dem or gop. You’re being gouged repeatedly by this corporations for gas, food, healthcare, everything. And the moment that start losing a dime, they either get bailed out with YOUR money or lay you off and moved their headquarters oversees. The namecalling does nothing.

By GMAN

July 14, 2008 4:30 PM | Link to this

Rufus is not a person but a critical disease. Don’t read his crap or you to will be contaminated.

By UberPudwit

July 14, 2008 4:31 PM | Link to this

Rufus: I can translate your 4:10.

Rufus was caught by his wife with a blow-up goat-doll and hand cream and she loaded her shotgun with bird shot and peppered his patooty.

Rufus hasn’t had much use for that blow-up goat-doll ever since, but he appreciates the second amendment just the same.

Calling Rufus a philanderer is like calling a bull and ox. he’s grateful for the honor, but he’d rather have restored to him what’s rightfully his……bwa!

Oh! Dont reach for THAT one, duhng, that’s WAY over your head!~

By Rufus

July 14, 2008 4:38 PM | Link to this

According to one energy security expert, unless prosperity exists people simply will not care about climate change. Gal Luft, executive director of the Institute for the Analysis of Global Security, said on July 11 that the poor have other priorities than global warming. “They [poor people] could not give a damn about climate change because they want 24 hours a day light,” said Luft who cited the example of people living in slums outside Bangalore, India.

Well, they don’t care because they don’t have a left wing mindless myrmedon media to tell them how bad off they are, when they are REALLY bad off compared to folks in the US.

But, that’s not the point. You see, it’s up to liberal socialist neo-Marxist Saint Obama to ensure that those global poor are no longer poor. With YOUR money.

What, you think the UN wastes US money now giving it to corrupt nations around the globe and useless, mindless hysteria like man-made global warming causing tsunamis in south Asia? Please.

By JD

July 14, 2008 4:38 PM | Link to this

fearless fool @ 1:58

If Bush=McCain then,

Osama=Obama and,

The New Yorker cover is more truth than satire.

Why would any sane person consider voting for someone with a Muslim name after the past 10-15 years (ok, 25-30 years, no actually 200 years)of attacks from Muslims? You remember Thomas Jefferson at war with the Barbary Pirates during his Presidency?

BO is a liar. Period. End of story. He is attempting to deny his own words in his books to place himself as a centrist for the general election. He is a Muslim (read his book on who he would support in a confrontation), he is a socialist (read his words on income redistribution), he has no experience at anything other than activism and he has never LED anything or anyone.

fearless fool, your political philosophy has been a loser everywhere and anytime a country has adopted socialism, therefore

fearless=loser.

By Chelsea

July 14, 2008 4:38 PM | Link to this

Do you ever get the feeling there are three of four folks here who have no life away from this comment thread?

Just wondering.

By UberPudwit

July 14, 2008 4:46 PM | Link to this

Yeah, Chelsea. There are two or three trolls who post 95% of the comments on this thread.

But that’s every blog. Honest. Check it out.

Trolls are, well, they’re mutants, yes, but more importantly, they’re americans.

We have to share the planet with them. Look, they’re not as bad as fat chicks. Nothing is.

McCain 08: No fat chicks. Who cares about Iraq, global warming, or the economy? It’s all cyclical isn’t it?

By Rufus

July 14, 2008 4:46 PM | Link to this

Ever notice how the only time “name calling” on this blog is brought up is when someone like me slings that mud right back in diseased liberal left wing faces? Uh huh.

Moving along…

Since this didn’t get answered elsewhere, I’ll give it a shot here: Will Obama’s flip-flop-flapjack on Iraq be treated the same as if he were a Cheney or W on Iraq by wishing to maintain troops in Iraq indefinitely?

Let’s see what the New York Slimes thinks:

Senator Barack Obama said Thursday that he might “refine” his policies for Iraq after meeting with military commanders there later this summer. But hours later he held a second news conference to emphasize his commitment to the withdrawal of all combat troops from Iraq within 16 months of taking office.

Ah, so he’s not FLIP FLOPPING, he’s just “refining” his views.

“His two statements in Fargo, N.D., reflected how the changing dynamics in Iraq have posed a challenge for Mr. Obama, who is trying to retain flexibility as violence declines there without abandoning a central promise of his campaign: that if elected, he would end the war.”

Uh huh, so now these “changing dynamics” in Iraq are making him rethink things.

The Slimes is setting up the deck of cards for Barack already. This is liberalism in the media at its finest. The apologists in the media are already at the table.

Pathetic.

By doctor do right

July 14, 2008 4:52 PM | Link to this

RUFUS..AJC…Whatever?

You have been at the keyboard 24/7 for how many days?

Bags underneath your eyes? Talking to yourself? Spittle oozing from your lips?

We realize your lonely existence. But, this is not the way to cope.

In the basement..Devoid of human contact! Perhaps UberPudwit is correct in his assessment of you having a BLOW-UP GOAT DOLL..How’s that working out for you?

There are places that will assist you in rehabilitation…

I can understand your lack of friends or family…Who would want to associate with a total NUT-JOB?

I offer for the low cost of XXXX million a one step plan to aleviate your suffering!

Call immediately and I’ll throw in some additional goodies….Psst CALL ME!

By JD

July 14, 2008 4:52 PM | Link to this

United we Stand @ 4:28

Amen! While the R’s and D’s jockey for position and abandon principle, at the same time acting as one party - the Bush, Rockefeller, Kennedy and Rothchild families are united to create a one world government. The destruction of the American economy is just one step.

Who in this blogging audience knows who owns the Federal Reserve?

Who knows of the Bilderberg Group?

The Trilateral Commission?

How many have heard of Gull Island?

How many of you are aware of the US position in oil reserves compared to the rest of the world?

What if producing and selling 15% of our oil reserves would pay our national debt and eliminate the unfunded Social Security and Medicare liabilities?

Liberals are lost and the only hope is a conservative (not Republican) tidal wave in the United States.

By Hannibal Lechter

July 14, 2008 4:56 PM | Link to this

I’ve heard of Gull Island. Clarice Starling and that awful Jack Crawford tried to sell me a fake vacation there once. But that’s OK. I ultimately got my escape to the tropics and even had my old friend Dr. Chilton for dinner.

By Rufus

July 14, 2008 5:02 PM | Link to this

From the Chicago Sun Times and yet another example of the disease of liberalsm:

Boeing as amoral as firms that aided Hitler

Despite our pride in Boeing as a global corporation, it is as amoral as the German corporations that aided Hitler. Only money and contracts count with Boeing.” Boeing’s subsidiary, Jeppesen Dataplan, since 2001 has provided flight and logistical support for at least 15 aircraft making 70 clandestine flights for the CIA. Jeppesen allows the CIA to transport prisoners such as ACLU plaintiffs Binyam Mohamed, Abou Elkassim Britel, and Ahmed Agiza to secret locations where they were tortured as part of our government’s “war on terror. - by DICK SIMPSON

Hey DICK: here’s a newsflash for you, pos lib: Boeing has also bombed the HELL out of nations around the globe since WWII. Does your little pink skirt liberalass have any comments over that, you pathetic liberal Dimocrat?

But don’t worry, little bedwetter, Boeing lost it’s @ss to EADS on a new US military KC-135 tanker replacement contract, and there’s really nothing they can do about it but whine - Congress and the USAF is sold and the better plane won. The dog and pony show of a “reopen” of the contract bid is a lost cause and waste of taxpayer dollars. Do mindless hysterical liberals like you, DICK, have any plans for those workers you hate so much just because the planes they built FLY IMPRISONED TERRORISTS WHO WANT TO KILL US ALL who will be out of a job soon? POS.

Liberals and emotions. Mindless liberals and emotions…

By Rufus

July 14, 2008 5:12 PM | Link to this

What part of knowing that I’m angering the disease of liberalism, WHICH, by the by, usually vultures over this blog 7x10, do you not understand, liberal blog troll from hell??

Sigh, again, moving Right along since these worthless harmless liberal bedwetters on the diseased left can’t handle it…

This, you have to understand, is yet another epitome of the disease of liberalism in the media. This time, it’s from the LA Slimes blog:

“Do you think Fox News should air the rest of Jesse Jackson’s comments about Barack Obama?”

Yeah, you think those liberal hypocrites at the LA Slimes would have asked that same question on a blog story about Cheney saying the F bomb? Or any other Republican for that matter having a gaffe moment like all public people have?

Nah.

By Mandy McManderson

July 14, 2008 5:13 PM | Link to this

That’s why they call them, “bleeding hearts.”

By the way, I’m readying “1776,” by David McCullough. Many members of Parliament might have been described as appeasing, treasonous surrender monkeys. But they weren’t. Guess political dissent was more acceptable back then.

By doctor do right

July 14, 2008 5:18 PM | Link to this

RUFUS..

Forgot to include my phone #

1-800-NUTJOBS

Don’t delay, Call today!

By Mandy McManderson

July 14, 2008 5:24 PM | Link to this

And when I write that, I mean both sides in the present U.S. are as guilty of trying to demonize the other. Oh, for real leaders who can disagree with respect and act for the common good.

Pfft. Ain’t gonna happen. Washington is Hollywood east. Get on camera and act outraged. That’s what passes as leadership these days.

Disgusting.

By Rufus

July 14, 2008 5:24 PM | Link to this

What part of knowing that I’m angering the disease of liberalism, WHICH, by the by, usually vultures over this blog 7x10, do you not understand, liberal blog troll from hell??

Sigh, again, moving Right along since these worthless harmless liberal bedwetters on the diseased left can’t handle it…

This, you have to understand, is yet another epitome of the disease of liberalism in the media. This time, it’s from the LA Slimes blog:

“Do you think Fox News should air the rest of Jesse Jackson’s comments about Barack Obama?”

Yeah, you think those liberal hypocrites at the LA Slimes would have asked that same question on a blog story about Cheney saying the F bomb? Or any other Republican for that matter having a gaffe moment like all public people have?

Nah.

By Rufus

July 14, 2008 5:34 PM | Link to this

What happened? Where’s all those mouthy hate filled liberal hairy apes cower too? Is the cage being rattled too much for the poor mindless babies? Awe…

Oh no sir, we aren’t done yet. Not by a long shot:

Take a lookie at the hate from the hell-bound diseased left in this nation on Tony Snow (disclaimer: not every liberal said this obviously - but it gives you an idea of the degree of the brain eating disease of liberalism):

  • Repeating lies day in and day out is bad for your health. Submitted by: Chris 7:08 PM PDT, July 12, 2008

  • I definitely feel sorry for his children and wife. But TOny Snow did while he was at FOX and Whitehouse can’t be forgiven. These Republicans are criminals and the democrats who voted for this war including. I don’t feel sorry him. I think it is time for redemption. Most of us deserve the worst possible punishment for our arrogance and the crimes we committed in the name of liberty,justice and other BS on the rest of the world. THis country runs based on Greed. America is committed to destroying other religions and cultures in the world and make world into an absolute trash. Submitted by: naagam 7:07 PM PDT, July 12, 2008

  • Lying causes cancer? Now we know. Submitted by: Jinny Campos 6:59 PM PDT, July 12, 2008

  • I’ve thoroughly enjoyed the first day of a Tony Snow-free world! Yay!!!! Submitted by: Melanie S 6:19 PM PDT, July 12, 2008

  • Because there obviously is no god, nor heaven and hell, I’ve always adhered to the idea that if you are saddned by the deaths of your friends and family, you should equally be gladdened by the deaths of people you hate. Tony Snow was a professional liar and willing member of the most notorious administration in this country’s history. I didn’t know him personally, but professionally he was a BS artist extraordinaire. This was the best cancer since Lee Atwater’s brain tumor. Submitted by: Shaun Mason 4:02 PM PDT, July 12, 2008

  • Just because your dead it doesn’t make you a good person. Submitted by: Virginia Hollender 12:55 PM PDT, July 12, 2008

    • Good stuff, liberal diseases. Keep this up!

    By Rufus

    July 14, 2008 5:44 PM | Link to this

    And now for the Daily Kos komments on Tony Snow.

    Don’t you just love some of those diseased liberal low life animals on the left? There is a special place in hell for some of them.

    By Vidal Suisun

    July 14, 2008 5:51 PM | Link to this

    Are you sure that’s a working number?

    Because when I called all I got was a recording that said: “I’m unable to come to the phone right now and my system can’t take it, because our systems analyst is systematically analyzing the system but, so far, says the problem is simply too systemic.

    The recording sounded a lot like Barack Obama. Are you sure that’s a working number?

    By Rufus

    July 14, 2008 5:51 PM | Link to this

    Obamaniac sayeth: Viva la FISA!

    Flip.

    Flop.

    In December of last year, Obama’s office said in a written statement, “Senator Obama unequivocally opposes giving retroactive immunity to telecommunications companies… granting such immunity undermines the constitutional protections Americans trust the Congress to protect. Senator Obama supports a filibuster [blocking] of this bill, and strongly urges others to do the same.”

    But last month when Democratic leaders cut a deal with the Bush Administration on wiretapping — a deal that places tighter restrictions on terrorist surveillance but still granted telecoms immunity — Obama dropped his defiant stance. While still acknowledging the Bush Administration, “has abused that authority and undermined the Constitution,” he said he’d support the bill.

    In a written statement shortly after the House passed the compromise, Obama said of the bill, “while far from perfect, is a marked improvement over last year’s.” The statement went on to detail a various improvements in the bill, but ended with a reluctant acknowledgment that he’ll vote for it.

    “It is not all that I would want. But given the legitimate threats we face, providing effective intelligence collection tools with appropriate safeguards is too important to delay. So I support the compromise, but do so with a firm pledge that as President, I will carefully monitor the program…”

    http://firstread.msnbc.msn.com/archive/2008/07/09/1188787.aspx

    By Dusty

    July 14, 2008 5:53 PM | Link to this

    Well, our cute lib is back ID THIEF @4:07 Not the real Dusty.

    PoFo, If you would stop stealing my ID I wouldn’t have to mention it. Since you never post anything worth reading, you really don’t need to use my ID. Now go bug somebody else.

    By the way, McCain is going to have a glorious inauguration. Maybe he’ll ask Condi to be the VP. Wouldn’t that fry your porkchops??

    Oh, I forgot. You are voting for Cynthia McKinney from the Green Party. I think the VP is going to be Miss Venezuela. There you go…

    By Rufus

    July 14, 2008 5:57 PM | Link to this

    ‘Tis the season of RAT politics. As I posted earlier, Dick Turban Durbin said he is now for drilling. Mrs. Nanny Pelosi now says it’s a hoax.

    Uh huh. Even Reid the real estate goon hack from Las Vegas is now on the fence on the matter.

    Can you imagine how much longer this COMPLETELY over-her-head incompetent woman is going to be in power for the RAT party? Just sit back folks and watch these moonbat liberals self destruct - and hopefully their mindless constituent voters with them.

    House Speaker Nancy Pelosi (D-Calif.) on Thursday shut the door on expanding oil and gas drilling beyond areas that have already been approved for energy exploration, drawing a clear distinction from her counterparts in charge of the Senate. “This call for drilling in areas that are protected is a hoax, it’s an absolute hoax on the part of the Republicans and this administration” Pelosi said at her weekly press conference. “It’s a decoy to punt your attention away from the fact that their policies have produced $4-a-gallon gasoline.” Pelosi’s stand may put her at odds with a growing number of members of the Democratic Caucus who have been moving toward possible compromises with Republicans on ways to expand domestic energy production. Senate Majority Leader Harry Reid (D-Nev.) on Wednesday told reporters that expanded offshore drilling is not off the table, and that Democrats will take a look at whether states should be able to choose to drill off their coasts. “I’m not knee-jerk-opposed to anything,” Reid said.

    By RW-(the original)

    July 14, 2008 5:57 PM | Link to this

    Rufus just flip flopped his own flapper……ew!

    Rufus. What a total weenie boy!

    Rufus, goes, “DUHHHHHH I got something important to say, duhhhhhhhh.”

    RETARD!!!!

    By Rufus

    July 14, 2008 6:04 PM | Link to this

    The blog 7x10 resident ID infatuated stalker/stealer liberal goon got owned today, as usual, and it is very unhappy. Amazing how this blog quiets down from the disease of liberalism when someone gets on here and starts posting FACTS, eh?

    Shuts ‘em up every. Single. Time.

    Gotta luv it.

    By dusty

    July 14, 2008 6:06 PM | Link to this

    I’m Sorry, but these accusations that I do Stinky is beyond the pale!

    The libs at work trying to impugn my character!

    Now, I’m off to church and PRAY for all of you pagans!

    By Vidal Suisun

    July 14, 2008 6:12 PM | Link to this

    Dusty, for the record, PoFo despises Cynthia McKinney, and unfortunately he seldom writes a thing not worth reading. Vide e.g. yesterday’s reminiscence of how music changed in America when the President got his brains blown out in front of — as it were — the First Lady and everybody. Very good writing, that. A professional’s “greeking” (scratch, or notation, draft).

    That’s the problem we’re up against, Dusty: the Reds have got Germans too. Only this time our Germans probably aren’t better than their Germans.

    By Rufus

    July 14, 2008 6:13 PM | Link to this

    If any of you moonbats (Mrs. Pelosi??) want to know why gas prices are so high in this nation, just look domestically and at the environazis keeping us from expanding refinery capability. Of course, this is nothing new either. No, you WILL NOT see this reported in the liberal main slime media:

    An environmental group on Wednesday filed a lawsuit intended to stop the expansion of a BP oil refinery in Whiting, Indiana. A shortage of oil refining capacity is often mentioned as one reason for soaring gasoline prices. The Natural Resources Defense Council (NRDC) is challenging air permits granted to the refinery by the State of Indiana. It’s part of the “ongoing fight against excessive pollution in northwest Indiana and Chicago,” the NRDC said in a news release.

    Yeah you better keep running blog liberals…

    By WFC

    July 15, 2008 9:18 AM | Link to this

    Well… the Bush family has been in bed with the Saudis for 25 years and are very wealthy as a result. I guess that you don’t realize that they are laughing at you. Being fairly wealthy and retired, I don’t care either. I can afford $10.00 per gallon as the Bush family can.

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