Post Scripts

But nobody listened. Democrats would have nothing to do with warnings, proposals, or a bill to make the necessary corrections needed to avert the Fannie and Freddie problem.

Posted by Tina

The mortgage and banking crisis has Democrat fingerprints all over it. In this important election year we need facts at our disposal. The following article, and excerpts from a White House webpage, provide vital background information in this ongoing saga. Read on fellow Post Scripters:

How the Democrats Created the Financial Crisis: Kevin Hassett – Bloomberg

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. *** Fannie and Freddie did this by becoming a key enabler of the mortgage crisis. They fueled Wall Street’s efforts to securitize subprime loans by becoming the primary customer of all AAA-rated subprime-mortgage pools. In addition, they held an enormous portfolio of mortgages themselves.

Now that we’ve been armed with an explosive visual…all of this mess is much easier to understand, right? Well not exactly, which is why reading the rest of Mr. Hassetts article would be a smart move for those who haven’t seen it.

Moving on…
Continue reading “<strong>A Look Back on Mortgage Finance Reform – The President and the GOP Spoke…</strong>” »

from Larry Wahl

“Barack Obama claims he’s for equal pay for women, but women working in his Senate office earn an average of $9,000 less than men, while women in John McCain’s Senate office earn an average of nearly $2,000 more than men. American women understand that real leadership is about what you do, not just what you say.” — McCain-Palin spokeswoman Crystal Benton

FACT CHECK: Records Show Women Working In Obama’s Senate Office Were Paid Average Of $9,000 Less Than Men

According To Senate Records, Women Working In Obama’s Senate Office Paid An Average Of $9,000 Less Than Men, As “Obama Pays Women Just 83 Cents For Every Dollar His Men Make.” “Obama’s commitment to federally mandated pay equity stretches from the Rockies to Wall Street and beyond. And yet it seems to have eluded his
Continue reading “Barrack Obama Under Pays Women Staffers?” »

Posted by Tina

One of the confounding elements of war is that it is often difficult to tell whether or not certain players are more enemy than friend. This article about the recent bombing in Pakistan posted by Walid Phares over at CounterTerrorismBlog offers a perspective I thought our readers might find interesting:

Jihadi Hellish message to Pakistan, by Walid Phares

* As shown by world networks, the hellish flames ravaging the Mariott Hotel in Islamabad seemed like a vision of the Apocalypse. That’s at least how many survivors of the Terror attack that massacred more than 60 and wounded hundreds have described it: “The end of the World.” But beyond the barbaric bloodshed and the human suffering ensuing, the heavy question fuses fast: How to read this Jihadi mayhem and what is the message behind the bombing?<strong>*

Continue reading “<strong>Message Behind the Bombing in Pakistan</strong>” »

by Jack Lee

AIG, the nations largest insurer suffered tremendous economic setbacks thanks to sub-prime mortgages and that forced their stock down close to a dollar on the 18th of Sept., since then the feds have offered a bailout and the stock has climbed above $5 a share over the last 4 days.

The question on the minds of many investors is it too late to jump on the AIG bandwagon? If you look at the chart above you can see a lot of room for retracement, so the implied technical upside is there if you really think this company can recover and resume a more normal course of business. Many savvy people in the market seem to think AIG can payback the government loan and recover stable footing.

I’m going to avoid the question IF government had any business bailing them out in the first place and look at the financial impact on this company instead. AIG said the Fed loan will give it “the time necessary to conduct asset sales on an orderly basis. Policyholders of AIG companies around the world can rest assured that AIG’s commitments will continue to be honored.” On the other hand the feds, headed up by Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson, said the bankruptcy of an institution of this size would have an effect on pension plans, on insurance, on mutual funds,” Dodd said. “They felt they had no other choice but to try this.”

Moody’s Chief economist Ryan Sweet said in a note to clients Tuesday night, called early market reaction “strongly positive.” U.S. Treasury bond prices were down sharply, pushing yields higher in late trading, he said. This positive feeling is not uncommon among stock gurus who are buying AIG stock. The question looms… is this really a blue chip bargain or is it a company that will eventually fail despite the government’s 82 billion dollar loan guarantee? We know what the stock market sentiment is, look at the share price! What’s your feeling?

UPDATE: As of 1 hour before market close AIG was up 40%! The market was down 235 points on the DOW.

Continue reading “A Quick Look at AIG (Boom or Bust?)” »

ISLAMABAD, Pakistan (Sept. 22) – Pakistan’s top leaders were to dine at the luxury hotel that was devastated by a truck bombing over the weekend, but changed the venue at the last minute, a senior government official said Monday.

The blast at the Marriott Hotel in the capital Islamabad killed at least 53 people and underscored the extremist challenge facing nuclear-armed Pakistan, where Taliban and al-Qaida militants are operating out of tribal regions close to Afghanistan.

Intelligence officials say Pakistani troops and tribesman opened fire on two U.S. helicopters that crossed over into the country from neighboring Afghanistan. The incident, which comes in the wake of suspected American raids on militants in the region, will likely further strain relations between Washington and Islamabad.

Posted by Tina

Islamabad – President Asif Ali Zardari vowed last night not to retreat from fighting terrorism, after at least 60 people were killed and more than 200 wounded when Islamabad’s Marriott hotel was destroyed in a suicide attack described as Pakistan’s 9/11. *** “If the cowards think they can terrorise the Government and the people of Pakistan, I state we shall not retreat from fighting terrorism. We will get rid of this terrorism cancer.”

And the greater war continues! Go ahead…tell me that our president has not inspired leadership around the world!

Dramatic footage from a devasting attack on Islamabad’s Marriott Hotel which killed at least 53 people suggests that the death toll could have been far worse if the bomber had been able to ram his truck through a security barrier. More than 250 people were injured in the blast, which officials and investigators immediately blamed on an al-Qaeda affiliate. *** Four foreigners were killed: the Czech ambassador, his Vietnamese partner and two Americans. The Times (UK)

Better Fixes for the Financial Crisis & Ideas for a Better Future in America

Posted by Tina

Hope and change sound good, but good ideas are needed if we want solutions that actually work. Two sources of reading provide some good ideas to ponder today. The first addresses the financial crisis and the second solid solutions for Americas best future. Both have been offered for our consideration by Newt Gingrich. The first excerpt is from a post on the corner blog at NRO:

Before D.C. Gets Our Money, It Owes Us Some Answers

Watching Washington rush to throw taxpayer money at Wall Street has been sobering and a little frightening. ** We are being told Treasury Secretary Henry Paulson has a plan which will shift $700 billion in obligations from private companies to the taxpayer. ** We are being warned that this $700 billion bailout is the only answer to a crisis. ** We are being reassured that we can trust Secretary Paulson “because he knows what he is doing”. ** Congress had better ask a lot of questions before it shifts this much burden to the taxpayer and shifts this much power to a Washington bureaucracy.

Continue reading “<strong>Newts Ideas and Vision</strong>” »