Friday, February 26, 2010
Now, the Financial Mess
Between 1998 and 2000, the laws regulating banks and bank investments wtitten afetr the Great Depression were stripped of all their regulatory power. From that monet on, Credit Default Swap bonds became the whole in the fabric of our economic life.
To understand them best, go to Time Magaxine for March 2008 in an article by Janet Mirrissey. You can also get CDSB defintion from the net, but the explanation is difficult to understand.
To undwestand thm best, look at y0ur newspaper for today. Take a look at the foreclosure listings. Call the banks involved and find out the net left on the mortgages. Take that number and mukltipkly by 30 or 40, and y0u will get th money that will be paid out to a CDSW holder. All the "bonuses" mentioned in the press are CDSB payments--not bonuses. In his first Press Conference, President Obabma mentioned in an answer to a wuestion from MSNBC's political reproter--"..You know that the boinds that pay 30 to one caused this pronbekms." That may not ne exact, but thepoint he made was that CDSB took trillions of dollars out of 0ur economy. Morrissey, in her Time article suggests the amount might be over 45 Trillion dollars--Now, experts are predicting that the amount will be closer to 75 Trllion. The bond holders and hedge fundas who now own that amount of money have more money than any group of any indivicuals aand organizations in theistory of the world.
Also, a retired lawyer who spent his whole career bewteen New York and Europe designing tax loop holes for officers, board, and the corporation itself for a major internationl American bank. He confirmned this theory. As he put it, "we got away with murder!" Clinton needed mortages for the poor--no one told him that it would cost our economy over 50 trillion dollars! Senator Gramm and his ilk got to increase these mortages by 50%, creating the largest mortgage failure in our history.
"Yield Spread Premiums"(Check on Google) were paid to loan origanorts of betaween $2,000 and $15,000 based on the fact that a $ 100,000 mortages written in 2002, would produce $ 3,000,00 if the CDSB was 30 to one, or $ 4,000,000. Think about it? YSPs made mini fortunes for everyone involved.
If we want to stop this crisis, the federal governemtn must Claw Back these YSPs and ALL CDSB payments. Then, over 50 Trillion dollars would be retuerned to the people of the United States.
Posted by Lionspen at 10:54 AM
Friday, February 26, 2010
Saturday, February 6, 2010
Back Again
Progressive and Liberal Truths include facts that the right wing deny: historical events that they say never happened, corrections for the out and out lies that they tell. In some cases, I will refer you to books, articles, websites, and televisions shows. A truth can also be an opinion which helps us all to advance.(On Thursday, at a speech at Brown University held the opinion that the true legacy of Martin Luther King==Poverty, Military, and Racism--have never been realized or even been up for discussion.
There are also truths that we, as progressives and liberals do not want to admit to--for instance, the silence of words and actions in the face of a right wing theocratic take-over of the USA government that started in 1978 at the Family Conference sponsored by President Carter where the Born-again-Chrisy=tans showed the power that they could bring to bear. They were wooed by many politicians, but the true jump occurred after Robertson ran for President, and then he set up thousands of groups to take over Republican local parties. By 1992, he was the most powerful person in the Republican Party. Our fault as progressives has been to keep silent about his campaign, and to not come up with an equal movement.
Here's a fact. Air America, went out of business last week.
Be assured, we are living through the repeat of the 1920s and 30s in Germany, Spain, Italy, and Japan--the growth of violent religions(Nazis. might makes right, and racial identity is supreme. That is where we are at right now. That is why people are bringing guns to discussions about Obama's health care.
Well, I will be back in a few days with more discussions. One goal I have for this blog is to it possible for you understand the political line from Henry Ford, Father Coglin, Irish Protestant extremist Ian Paisley, Allen Dulles, Prescott, George H, and George W Bush. I might be able complete the gaps in the Dulles ordered assassinations of JFK, RKK, MLK, Malcolm X, and the wounding of Governor Wallace.
Bye for now.
There are also truths that we, as progressives and liberals do not want to admit to--for instance, the silence of words and actions in the face of a right wing theocratic take-over of the USA government that started in 1978 at the Family Conference sponsored by President Carter where the Born-again-Chrisy=tans showed the power that they could bring to bear. They were wooed by many politicians, but the true jump occurred after Robertson ran for President, and then he set up thousands of groups to take over Republican local parties. By 1992, he was the most powerful person in the Republican Party. Our fault as progressives has been to keep silent about his campaign, and to not come up with an equal movement.
Here's a fact. Air America, went out of business last week.
Be assured, we are living through the repeat of the 1920s and 30s in Germany, Spain, Italy, and Japan--the growth of violent religions(Nazis. might makes right, and racial identity is supreme. That is where we are at right now. That is why people are bringing guns to discussions about Obama's health care.
Well, I will be back in a few days with more discussions. One goal I have for this blog is to it possible for you understand the political line from Henry Ford, Father Coglin, Irish Protestant extremist Ian Paisley, Allen Dulles, Prescott, George H, and George W Bush. I might be able complete the gaps in the Dulles ordered assassinations of JFK, RKK, MLK, Malcolm X, and the wounding of Governor Wallace.
Bye for now.
Thursday, February 4, 2010
The Beginning
Here is where we start.
We have to tel the truth as we know it and see it. We need to stop the lies ands distortions from the right wing in this country. We forget that Woodrow Wilson had one visit from Wasghinto Carver, and then NEVER had a black person in the White House. His racism and attqachemtn to Wealthy souterners, and it has been hidden for decades.
From 1880 to 1920 125 million died from the Il Nino Famines. Ths is in the book The Vicotrian Holocausts, El Nino Famies and the Creation of the Third World. The population of the Congo dropped from 20 millions to 10 million durin thse forty years. King Leopold of Belgium created much of this disaster, but the famines killed millions in Africa, Asia, South America, and lot in between.
If we need to know why Hitler could get away with his genocide against Jews, Gypsies, Pacificst, Socialists, Poles, Christians, Blacks, y0u don't have to look further thasn these massive hiolocasts. Hitleer and Allen Dulles were both teenagers and y0ung adults when reports of these catastrophies. Niether of them needed proof that mass murder was a viable way to run the world, and niether one ever should be excused for what they did.
Allen Dulles, y0u ask? Well, according to The Secret War Against the Jews: How Western Espionage Betrayed the Jewish People by John Loftis and Mark Aarons, Dulles had a very cozy relationship with Nazis Officers after WWII, In fact, he brougth ten thousand of these men to America in the late fifties to build a group to fight East Germany. They never did anything, but create the Ethnic Wing of the Republicn Party-led by Presecott Bush's son, George Bush. Oh, Prescott had been indicted and fined for being a traitor in the 1940's because the bank he and Averell Harriman worked for was a Nazi Bank. In 1951, Dulles got ALL of Prescott's money back that he had paid in fines. On the day that Prescott was indicted, Gearge Bush joined the Air Force and the CIA. WShile leading the "thnic Wing"(Nazi) wing of the Republican Party, Bush worked as the director of the invasion of Cuba. Loftis and Aarons tell us that three of the invading ships were named in his honor. Y0u can read the book to get the specifics.
Moreover, this blog will tell y0u more and more about the Lies that we have heard from the right in order to alter our world. Futhermore, with the rifght knowledge, y0u can see a duirect line from the racists Ford, to Father Coglin, to the bushes, to the murders of the to Kennedyis, the wounding of Governeor Wallace, and the deaths of Martin Luther king and Malcolm X. The men whole did these acts HATED FDR and Truman, and have spent sixty years destroying their ideas, hopes, and dreams. Thge climax of their work was the creation Default Credit Swap Bonds. These derivatives are guarenteed and insured. So, look at y0u newspaper for today. For every foreclosure in y0ur paper, a Credit Default Swap Bond holder makes $30 to $40 for every dollar in the foreclosure. These are the "bonuses" that they are paying now. The people who wrote these sub-prime mortgages were paid a Yield Spread Premium(YSP)(lool it up on Google) which was a fee of between $2,000 and $15,000 per mortgage. People were making thousands of dollars writing mortgages that were never going be paid back.
President should claw bacl all YSP payments, abd every Credit Defauklt Swap Bond
payment. If you go to Time Magazine for March 2008, look at the article by Janet Morrissey where she predicts 45 trillion dollars will be moved out of our economy ny about 25,000 people. Today, the predictions put these bond holders will walk away with 75 Trillion dollars. Obama could claw this back, and our crisis would be over. The rel quesrtion is what and where are these trillions of dollars going to be used. There is enough money there to BUY every election in America for the next five decades.
more later.....
We have to tel the truth as we know it and see it. We need to stop the lies ands distortions from the right wing in this country. We forget that Woodrow Wilson had one visit from Wasghinto Carver, and then NEVER had a black person in the White House. His racism and attqachemtn to Wealthy souterners, and it has been hidden for decades.
From 1880 to 1920 125 million died from the Il Nino Famines. Ths is in the book The Vicotrian Holocausts, El Nino Famies and the Creation of the Third World. The population of the Congo dropped from 20 millions to 10 million durin thse forty years. King Leopold of Belgium created much of this disaster, but the famines killed millions in Africa, Asia, South America, and lot in between.
If we need to know why Hitler could get away with his genocide against Jews, Gypsies, Pacificst, Socialists, Poles, Christians, Blacks, y0u don't have to look further thasn these massive hiolocasts. Hitleer and Allen Dulles were both teenagers and y0ung adults when reports of these catastrophies. Niether of them needed proof that mass murder was a viable way to run the world, and niether one ever should be excused for what they did.
Allen Dulles, y0u ask? Well, according to The Secret War Against the Jews: How Western Espionage Betrayed the Jewish People by John Loftis and Mark Aarons, Dulles had a very cozy relationship with Nazis Officers after WWII, In fact, he brougth ten thousand of these men to America in the late fifties to build a group to fight East Germany. They never did anything, but create the Ethnic Wing of the Republicn Party-led by Presecott Bush's son, George Bush. Oh, Prescott had been indicted and fined for being a traitor in the 1940's because the bank he and Averell Harriman worked for was a Nazi Bank. In 1951, Dulles got ALL of Prescott's money back that he had paid in fines. On the day that Prescott was indicted, Gearge Bush joined the Air Force and the CIA. WShile leading the "thnic Wing"(Nazi) wing of the Republican Party, Bush worked as the director of the invasion of Cuba. Loftis and Aarons tell us that three of the invading ships were named in his honor. Y0u can read the book to get the specifics.
Moreover, this blog will tell y0u more and more about the Lies that we have heard from the right in order to alter our world. Futhermore, with the rifght knowledge, y0u can see a duirect line from the racists Ford, to Father Coglin, to the bushes, to the murders of the to Kennedyis, the wounding of Governeor Wallace, and the deaths of Martin Luther king and Malcolm X. The men whole did these acts HATED FDR and Truman, and have spent sixty years destroying their ideas, hopes, and dreams. Thge climax of their work was the creation Default Credit Swap Bonds. These derivatives are guarenteed and insured. So, look at y0u newspaper for today. For every foreclosure in y0ur paper, a Credit Default Swap Bond holder makes $30 to $40 for every dollar in the foreclosure. These are the "bonuses" that they are paying now. The people who wrote these sub-prime mortgages were paid a Yield Spread Premium(YSP)(lool it up on Google) which was a fee of between $2,000 and $15,000 per mortgage. People were making thousands of dollars writing mortgages that were never going be paid back.
President should claw bacl all YSP payments, abd every Credit Defauklt Swap Bond
payment. If you go to Time Magazine for March 2008, look at the article by Janet Morrissey where she predicts 45 trillion dollars will be moved out of our economy ny about 25,000 people. Today, the predictions put these bond holders will walk away with 75 Trillion dollars. Obama could claw this back, and our crisis would be over. The rel quesrtion is what and where are these trillions of dollars going to be used. There is enough money there to BUY every election in America for the next five decades.
more later.....
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