http://www.tennessean.com/apps/pbcs.dll/article?AID=/20080928/COLUMNI…
"Flash forward to September 2003. President Bush was growing
increasingly concerned about the "toxic paper" Fannie and Freddie were
acquiring. He proposed putting oversight of both under the Treasury
Department. The president cited a report by outside investigators in
July 2003 that found Freddie Mac had manipulated its accounting to
mislead investors. But congressional Democrats balked. Rep. Barney
Frank, the ranking Democrat on the Financial Services Committee, fired
back saying, "These two entities – Fannie Mae and Freddie Mac – are
not facing any kind of financial crisis. The more people exaggerate
these problems, the more pressure there is on these companies, the
less we will see in terms of affordable housing." Keep in mind, that
was five years ago. Subsequently, Democrats blocked any attempts to
fix the problem.

Other lenders followed Fannie and Freddie’s nosedive into the subprime
mess. As the City Journal noted in the winter of 2000, "The Clinton
administration has turned the Community Reinvestment Act, a
once-obscure and lightly enforced banking regulation law, into one of
the most powerful mandates shaping American cities – and, as Senate
Banking Committee chairman Phil Gramm memorably put it, a vast
extortion scheme against the nation’s banks." Meanwhile, Fannie’s
disgraced CEO, Franklin Raines, who steered Fannie toward the cliff,
jumped off just in time, reportedly earning $90 million during his
time as Fannie Mae’s CEO."

regards….

–
web site at www.abelard.org – news comment service, logic, economics
 energy, education, politics, etc 1,552,396 document calls in year past
——————————————————————————–
  all that is necessary for       []     walk quietly and carry
  the triumph of evil is that      []           a big stick.
  good people do nothing     []   trust actions not words
                    only when it’s funny — roger rabbit
——————————————————————————–

THE AMDOCS CONNECTION

If a phone is dialed in the US, Amdocs Ltd. likely has a record of it,
which includes who you dialed and how long you spoke. This is known as
transactional call data. Amdocs’ biggest customers in the US are AT&T
and Verizon, which have collaborated widely with the Bush
Administration’s warrantless wiretapping programs. Transactional call
data has been identified as a key element in NSA data mining to look
for "suspicious" patterns in communications.

Over the last decade, Amdocs has been the target of several
investigations looking into whether individuals within the company
shared sensitive US government data with organized crime elements and
Israeli intelligence services.
 Beginning in 1997, the FBI conducted a  far-flung inquiry into
alleged spying by an Israeli employee of Amdocs, who worked on a
telephone billing program purchased by the CIA.
 According to Paul Rodriguez and J. Michael Waller, of Insight
Magazine, which broke the story in May of 2000, the targeted Israeli
had apparently also facilitated the tapping of telephone lines at the
Clinton White House (recall Monica Lewinsky’s testimony before Ken
Starr: the president, she claimed, had warned her that "a foreign
embassy" was listening to their phone sex, though Clinton under oath
later denied saying this).
 More than two dozen intelligence  counterintelligence, law-
enforcement and other officials told Insight  that a "daring
operation," run by Israeli intelligence, had "intercepted telephone
and modem communications on some of the most
sensitive lines of the US government on an ongoing basis.
 "Some of the listed numbers," the Insight article
added, "were lines that FBI counterintelligence used to keep track of
the suspected Israeli spy operation.
 The hunted were tracking the hunters."

London Sunday Times reporter Uzi Mahnaimi quotes sources in Tel Aviv
saying that during this period e-mails from President Clinton had also
been intercepted by Israeli intelligence.
.
http://www.antiwar.com/orig/ketcham.php?articleid=13506
——————————————————————————————–
step one

scam 700 billion off  taxpayers, give them nice worthless IOUs

Wait till the taxpayers  go broke paying off the 700 billion

Then  buy  ALL they own , at firesale prices ,10 cents in the $

Using the 700 billion you scammed off them with the worthless IOUs

you too can make 7000 billion from thin air

Too EZ , jews do it all the time

now they have your 700 billion , and they know the crash is only days
away ,  they are preparing to move in for the "big pay off" as we
speak , western taxpayers sure are slow learners

most are too drunk or too dumb to even work out who scammed them , or
where all the wealth their parents worked hard to build up has
actually gone

The jews  big smile says it all , as they offer to "help "  ,
 as they buy your last few assets up at fire sale prices  , most
western taxpayers will be grateful for a few dollars to buy a bag of
groceries , without even noticing their grandfathers sweat all over
the jews gold watch

I think I now understand why Germans hated the jews and why jews get
driven out of every country they ever lived in.

 once they were discovered to be unpatriotic and selfish to the bone
so much  so they are a national security threat that eventually
destroys every society they ever get a voice or any control , its soon
destroyed ,

 look all through history , every single country that lets jews into
power collapses exactly the same way

kangarooistan
=============

Say No to China
http://www.hkfront.org/sepen.htm
Kosovo can get independence. Why can’t Hong Kong? Kosovars fought for
their independence. Tibetans are demonstrating and rioting to get
theirs back. What is Hong Kong doing?

China Olympic Media Doctoring – Girl Lip Sync
http://www.hkfront.org/index-sub-en.html

In Hong Kong Disneyland, Hong Kong kid was beaten by Chinese kid
http://hk.youtube.com/watch?v=J39R3Bu2lJ4

- Hide quoted text — Show quoted text -

On Mon, 29 Sep 2008 11:35:02 +1000, "TomTom" <t…@invalid.com> wrote:
>Surfer wrote:
>> On Mon, 29 Sep 2008 07:39:45 +1000, "TomTom" <t…@invalid.com> wrote:

>>> Surfer wrote:

>>>> The current US financial crisis wasn’t caused by failure of the
>>>> market, it was caused by irresponsible lending and dishonesty.

>>> That’s what I like to see.  Not a namby-pamby inconsistency, but your
>>> actual, real contradiction.  Ignorance does that.

>> TomTom,

>> The FBI has found evidence of criminal behavior:

>> 400 arrested, 2 charged over US subprime meltdown
>> http://www.abc.net.au/news/stories/2008/06/20/2280357.htm

>> This video shows representatives covering up Fannie Mae and Freddie
>> Mac scams.
>> http://nz.youtube.com/watch?v=_MGT_cSi7Rs

>If there is evidence of criminal behaviour, then the criminal justice system
>should apply in the usual way.  That is the proper way to do things.

>> So your statement "Markets fail" is completely lame.

>If markets fail because of behaviour contrary to law, then the justice
>system is the way to handle the matter.  That suggests, however, that it may
>have been a pre-existing failure in the justice system that has caused the
>current problem in the market.

>It seems that the essential problem is that money was lent on dubious
>security.

Agreed. But judging by the above video, it seems US law makers also
slipped up by allowing institutions to lend without adequate security.

Senators in the USA are in an unenviable position.

If they vote against handing over $700 billion to the richest people
in the USA who have already absconded with a trillion or so, those fat
cats will see to it that senator never gets elected again.

If they vote for handing over the $700 billion, the ordinary people
will see to it they never get elected again.

–
Roedy Green Canadian Mind Products
http://mindprod.com/politics/harper.html
Anyone but Harper for Prime Minister of Canada

OBAMA SUCK DICK!!!

In Canada a young man was just convicted of taking paramilitary
training. He will likely get about 10 years. The silly goose could
gave got it safely and at taxpayer expense by enlisting.

In the USA, the taking of paramilitary training, and stockpiling of
weapons is protected by a broad interpretation of the second amendment
of the constitution.  Americans tell me the idea is they WANT groups
capable of overthrowing the government by force if necessary.
—
Roedy Green Canadian Mind Products
http://mindprod.com/politics/harper.html
Anyone but Harper for Prime Minister of Canada

http://foro.univision.com/univision/board/message?board.id=noticiero_…
"If Congress does not act, American taxpayers will continue to be
exposed to the enormous risk that Fannie Mae and Freddie Mac pose to
the housing market, the overall financial system, and the economy as a
whole."
John McCain, May 26, 2005
…

"Senator Obama talks a tough game on the financial markets but the
facts tell a different story. He took more money from Fannie and
Freddie than any Senator but the Democratic chairman of the committee
that regulates them. He put Fannie Mae’s CEO who helped create this
disaster in charge of finding his Vice President…"

regards…

–
web site at www.abelard.org – news comment service, logic, economics
 energy, education, politics, etc 1,552,396 document calls in year past
——————————————————————————–
  all that is necessary for       []     walk quietly and carry
  the triumph of evil is that      []           a big stick.
  good people do nothing     []   trust actions not words
                    only when it’s funny — roger rabbit
——————————————————————————–

Youtube
http://www.youtube.com/watch?v=H5tZc8oH–o

David Christainsen

What is ObaMao’s Banking Bailout Plan? – ACORN !

Association of Community Organizations for Reform Now (ACORN)

http://www.discoverthenetworks.org/groupProfile.asp?grpid=6968