Post Scripts

Posted by Tina

LONDON – Britain unveiled its new biometric identity card on Thursday which the government says will be vital in fighting illegal immigration and terrorism, while critics call it an expensive attack on civil liberties. The controversial multi-billion pound scheme, which involves one of the world’s most ambitious biometric projects, will see ID cards used in Britain for the first time since they were abolished after World War Two. – Reuters

Desperate times, desperate measures? Notice the practice was suspended by this free country after the war was won.

Posted by Tina

Rep. Alcee Hastings told an audience of Jewish Democrats Wednesday that they should be wary of Republican VP nominee Sarah Palin because anybody toting guns and stripping moose dont care too much about what they do with Jews and blacks. CNN Blog

Hat tip: NewsBusters

by Dan

I understand how the liberals in power during the Clinton administration pressured mortage companies to make shaky loans to previously unqualified applicants. I also understand how Raines, Obama’s buddy at Fannie May, used his position to further his political agenda by having a quasi-government mortage insurance organization guarantee these loans so the lenders would be more willing. And then Raines personally plundered the agency and walked away with his $20 million bonus — pretty good for a semi-government job poorly done. The part I don’t get is why it is suddenly a national emergency that has to be solved in 3 days or our whole economy will collapse. What happened all of a sudden? Did every one of these adjustable rate mortgages go bad on the same day?

by Jack Lee

While working in law enforcement there were many times I was told, “Don’t worry, he wont’ bite,” only to discover yes, he will bite! And I was forced to take defensive action that neither the dog or the owner was particularly thrilled with and that was unfortunate. I like dogs, but I have a strong dislike for irresponsible dog owners. And this brings up the lead story in the Enterprise Record today about another pit bull attack validating yet one more time why some breeds should be specially licensed and ownership restricted.

Continue reading “ANOTHER PIT BULL ATTACK ALMOST KILLS WOMAN” »

Posted by Tina

Should you cast your vote for Barack Obama? Take the test and find out!

This test is fairly long and will show you areas of agreement and disagreementa great tool to help the undecidedsa great way to measure your resolve if you have decided.

Posted by Jack Lee

Franklin Delano Raines is the former chairman and chief executive officer of Fannie Mae who served as White House budget director under President Bill Clinton.

In October 2003, even as Raines was invited to the Bush White House to receive a leadership award on behalf of Fannie Mae, investigators were about to look into the company’s accounting books. A year later, Congress held a hearing on accounting irregularities at the company. By the end of 2004, Raines was forced out by the board, accused by regulators of overseeing accounting manipulations to bolster his compensation.

He cooked the books to get bonus money

The son of a Seattle janitor, Raines graduated from Harvard University, Harvard Law School; and Magdalen College, Oxford University as a Rhodes Scholar. Raines was of age during the Vietnam War, but performed no military service. He served in the Carter Administration as associate director for economics and government in the Office of Management and Budget and assistant director of the White House Domestic Policy Staff from 1977 to 1979. Then he joined Lazard Freres and Co., where he worked for 11 years and became a general partner. In 1991 he became Fannie’s Mae’s Vice Chairman, a post he left in 1996 in order to join the Clinton Administration as the
Continue reading “Frank Raines and Fannie Mae Corruption” »

Posted by Jack Lee

NEW YORK (Reuters)Four former top executives of Fannie Mae were sued on Monday, one day after the mortgage finance giant was seized by the U.S. government, in an investor lawsuit that claims the four lied about the company’s financial position and artificially inflated its share price.

The lawsuit, filed in U.S. District Court for the Southern District of New York, seeks class action status for investors who bought Fannie Mae securities between Nov. 16, 2007, and Sept. 5, 2008, according to the complaint, filed by the law firm of Coughlin Stoia Geller Rudman & Robbins.

Named as defendants are: Stephen Ashley, chairman; Daniel Mudd, president and chief executive officer; Stephen Swad, chief financial officer; and Robert Levin, chief business officer of Fannie Mae.

Messrs. Ashley, Mudd and Levin were replaced on Sunday under the governments takeover plan. Mr. Swad had been replaced as CFO on Aug. 28.

Continue reading “Fannie Mae investors sue former execs…more corruption” »

Commentary by Kevin Hassett

Sept. 22 (Bloomberg) — The financial crisis of the past year has provided a number of surprising twists and turns, and from Bear Stearns Cos. to American International Group Inc., ambiguity has been a big part of the story.

Why did Bear Stearns fail, and how does that relate to AIG? It all seems so complex.

But really, it isn’t. Enough cards on this table have been turned over that the story is now clear. The economic history books will describe this episode in simple and understandable terms: Fannie Mae and Freddie Mac exploded, and many bystanders were injured in the blast, some fatally.

Continue reading “How the Democrats Created the Financial Crisis” »

12:00p ET September 24, 2008 (Briefing.com) – Stocks have been unable to find direction as market participants digest news that one of the world’s most respected investors bought preferred stock in Goldman Sachs, testimony from Fed Chairman Bernanke, and continued tightness of credit markets. At midday, the stock market is near the unchanged mark, as it has been through most the session. Seven of the ten economic sectors are posting a loss,
Continue reading “Stocks Unchanged at Midday” »

by Jack Lee

Republican Headquarters opens in Chico! Councilman Larry Wahl (who is running for re-election) is surrounded by GOP volunteers. Pictured from right to left are, Jed David, Betty Schumacher, Larry Wahl and Evonne Smith.

McCain-Palin yard signs now available and free!

The new GOP Headquarters is located at 1450 Mangrove, about 200 yards north of the Mangrove Bottle Shop on the east side of the street. Their office will be open from 10 a.m. till 6 p.m., Monday thru Saturday, and soon 7 days a week.

1450 Mangrove, Chico, Ca