From This:
To This:
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And now after getting away with murder, he's too stupid to shut up and disappear and stay out of trouble for the next forty or fifty years.
$%#@& IDIOT...
Welcome to my world!
Come inside, if you dare, and subject yourself to my observations on life's experiences and my commentaries on politics and current events.
-Larry The Cable Guy
Now look at the bill's co-sponsors and you'll see this:And if you click on the "Summary Button" on the website you'll see these words...
1/26/2005--Introduced.
Federal Housing Enterprise Regulatory Reform Act of 2005 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (another Republican effort to fix this "problem"--VRR) to establish: (1) in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency which shall have authority over the Federal Home Loan Bank Finance Corporation, the Federal Home Loan Banks, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac); and (2) the Federal Housing Enterprise Board.
Sets forth operating, administrative, and regulatory provisions of the Agency, including provisions respecting: (1) assessment authority; (2) authority to limit nonmission-related assets; (3) minimum and critical capital levels; (4) risk-based capital test; (5) capital classifications and undercapitalized enterprises; (6) enforcement actions and penalties; (7) golden parachutes; and (8) reporting.
Amends the Federal Home Loan Bank Act to establish the Federal Home Loan Bank Finance Corporation. Transfers the functions of the Office of Finance of the Federal Home Loan Banks to such Corporation.
Excludes the Federal Home Loan Banks from certain securities reporting requirements.
Abolishes the Federal Housing Finance Board.
Can't you see that most all of the lamestream media, and virtually every one of the serving Dem's are lying partisan idiots...one and all...???
UPDATE 7:05 AM
Then there's this You Tube Video just in case you haven't seen it:
Are You starting to see the light yet?
But you'd be right if you said THIS little rich guy, instead:
(For those of you busy rearing children or that went to college at UGA or Florida State, that would be Warren Buffett...)
Then over at
JPMorgan Chase & Co. Announces $8 Billion Capital Raise
New York, September 25, 2008 - JPMorgan Chase & Co. (NYSE: JPM) today announced that it intends to offer $8 billion of its common stock for sale to the public. J.P. Morgan Securities Inc. will serve as sole bookrunning manager and underwriter for the transaction. The underwriter will have a 30-day option to purchase up to an additional 15% of the offered amount of common stock from the company to cover over-allotments, if any.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.0 trillion [emphasis mine-VRR] and operations in more than 60 countries....
Then after raising $8 BILLION new dollars from "investors" (not the government) in the face of the current catastrophe, the very next day last week JPMorgan did this:
JPMorgan Chase Acquires the Deposits, Assets and Certain Liabilities of Washington Mutual's Banking Operations
Highly attractive, strategic transaction significantly strengthens consumer franchise.
Deal expected to be accretive to earnings immediately. Adds large, stable deposit base and recurring earnings stream to company.
Company intends to raise additional capital in conjunction with this transaction to maintain strong capital position.
Acquisition creates largest U.S. depository institution, with over $900 billion of customer deposits
Expansion into attractive California, Florida and Washington State markets creates nation's second-largest branch network; also strengthens existing presence in New York, Texas, Illinois, Arizona, New Jersey, Colorado, Connecticut and Utah
Larger branch footprint will allow company to further extend and grow commercial banking, business banking, credit card, consumer lending and wealth management efforts
New York, Sept. 25, 2008 - JPMorgan Chase & Co. (NYSE: JPM) tonight announced it has acquired all deposits, assets and certain liabilities of Washington Mutual's banking operations from the Federal Deposit Insurance Corporation (FDIC), effective immediately. Excluded from the transaction are the senior unsecured debt, subordinated debt, and preferred stock of Washington Mutual's banks. JPMorgan Chase will not be acquiring any assets or liabilities of the banks' parent holding company (WM) or the holding company's non-bank subsidiaries. As part of this transaction, JPMorgan Chase will make a payment of approximately $1.9 billion to the FDIC.
If that's not enough to convince you that SOMEBODY believes that everything isn't going down the crapper on Wall Street without Federal intervention, on this past Friday they offered part ownership in their company for only another $10 Billion, apparently to be received from Lemmings willing to jump off the cliff with their fellow investors wallowing in the pit of insolvency:
JPMorgan Chase & Co. Prices $10 Billion Capital Raise
New York, September 26, 2008 -
JPMorgan Chase & Co. (NYSE: JPM) today announced that it priced a $10 billion offering of approximately 246.9 million shares of its common stock at $40.50 per share. J.P. Morgan Securities Inc. served as sole bookrunning manager and underwriter for the transaction. The underwriter will have a 30-day option to purchase approximately up to an additional 37.0 million shares of common stock from the company to cover over-allotments. The closing is expected to occur on or about September 30, 2008.
I don't know about you, but I say that if BZILLIONAIRE Warren Buffet is buying into the investment houses this week, and "investors" are tossing billions at firms like JPMorgan, then as I said a few weeks ago...they're not burning American Dollars yet, people are still graduating from college and need a place to live other than an apartment, the housing market will recover given time, and finally...
the $#@%& Government should keep MY TAX DOLLARS out of this natural "correction process" in the markets and get their race baiting bigoted, group hysteria mongering fingers out of the investment and loan making process before they really do permanently screw things up.
See that set of bar graphs bouncing around down between 40 and 50 hits per day, then jumping up to over 200 last Sunday and over EIGHT HUNDRED on Monday, all because I wrote a fifty word posting mentioning that Senator and Democratic VP candidate Joe Biden's health was being examined and there was a rumor bouncing around the Internet for some time that sHrillary was coming in for his replacement in October.
I followed up with a detailed posting on Biden's health history on Monday and the hits kept coming, and here I set this morning on the banks of the Mighty Tennessee River having just finished my first week three "hits" shy of THREE THOUSAND READERS in my blogging career.
(The thing I have to keep in perspective is that even with THREE THOUSAND READERS in a single seven day period, my total for the 29 days thus far elapsed in September is just 53 hits over FOUR THOUSAND...)
Now that things have settled down a little I guess it time to pick up the trash and empty drink cups, gather my little group of regular readers back around me, and get back to working on some steel design and writing about the details of the recently minted 700 billion welfare package for Wall Street and the "community Redevelopment Act" beneficiaries and administrators over at ACORN.
Y'all have a good week...if you will...
(Click on the image to see a larger format image and see all the long hair she's developing in the cooler weather here on the banks of the Mighty Tennessee River.)