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WASHINGTON (AP) -- The Bush administration's top housing official, under criminal investigation and intense pressure from Democratic critics, announced Monday he is quitting.
Housing and Urban Development Secretary Alphonso Jackson said his resignation will take effect on April 18. The move comes at a shaky time for the economy and the Bush administration, as the housing industry's crisis has imperiled the nation's credit markets and led to a major economic slowdown.
http://www.nytimes.com/aponline/us/AP-HUD-Chief...
The Associated Press
Monday, March 31, 2008; 10:17 AM
WASHINGTON -- The Supreme Court on Monday refused to step into a legal fight between the Justice Department and a member of Congress who has been indicted on bribery charges. The court declined to review an appeals court ruling that the FBI reviewed legislative documents in the office of Rep. William Jefferson, D-La., in violation of the Constitution.
Jefferson has pleaded not guilty to charges of soliciting more than $500,000 in bribes while using his office to broker business deals in Africa. His trial has been delayed indefinitely.
http://www.washingtonpost.com/wp-dyn/content/ar...
We need some regulation (they found this out in the 30's too, Bush the "history major" ought to know that) and the sub-prime is classic example of WHY, but we need to have people do it honestly. We'll never get that with the Sopranos in the white house.
Now, all of this may take months, years, to sort out, but I want to see if Dems will have the spine to come up with something that won't subject the hard won wages of most of us to the incredible greed and incompetence of Wall St. and the Fed.
http://en.wikipedia.org/wiki/Gramm-Leach-Bliley...
Wouldn't this kind of unharnassed power be like putting Kissinger in charge of the 9/11 Commission?
The options that Paulson outlined have already set up potential turf wars between the S.E.C. and the Comptroller of the Currency offices and none of this will do anything to address cureent financial concerns with reagrd to increasing foreclosure rates as well as rising inflation because of ongoing bailouts using tax payer funds while helicopter Ben keeps the printing presses rolling at full speed.
We're witnessing a financial train wreck in slow motion as consumers continue to have to dig deeper and deeper just to make ends meet and when one stops to think about it, why should the US taxpayer have to bail out banks that make up the Federal Reserve system? There is virtually no over sight of the Fed by Congress and this was one of the greatest heists in American history. The founders knew ( especially Jefferson ) that if the country had a central bank, control of the money supply would get out of hand and this is exactly what has happened. think about it. For every dollar that a bank takes in, they lend out nine. Where do you think all of this money comes from? It's called the printing press and it shouldn't take that much longer for the entire system to fall in on itself while politicians scramble to give more money away in the run up to the elections in the hope that voters will return them to Congress so they can contiune to look the other way while we all continue on our way to the poor house.
We need a pitbull congress on this one, ripping it to pieces. The problem is a cancer sometimes called Reaganism. Re-regulate the banks that RR turned loose, then review the situation in a year. Surgery is indicated, resurrecting Mercantilism is not.
http://www.bloomberg.com/avp/avp.htm?clipSRC=mm...
"Let’s see. In the middle of perhaps the greatest financial upheaval since the Great Depression, Treasury Secretary Hank Paulson is proposing a change in financial regulations which basically amounts to a big wink to Wall Street. His plan will go nowhere, both for political and practical reasons. In fact, it does not even meet the minimum standard of improving transparency, which would reduce the possibility of a similar crisis in the future. "
Why the Paulson Plan is DOA
No one in Congress is listening to The People save a few here and there. We have been paying the price for it for years now.
Did we get impeachment? Even with a Dem president and majority Dems in both houses, we aren't guaranteed anything next year. Watch the filibuster become important again.
Same as the war was part of the plan to allow the NSA to grab more power.
Say your goodbyes to the Constitution, was great while it lasted.
i am always amazed that the republicans screw things up and then want to change the plan so it looks like they are doing the right thing and the stupid democrates go along with the stupid legislation
The reason you're so amazed is that you are starting from the false premise that there are significant differences between the Republicans and the Democrats.
Just remember:
We have only one political part -- The Corporate Party. It has two right wings -- the Republican right wing and the Democratic right wing.
At the end of the day, members of both wings will do what their corporate bosses tell them to do.
Once you understand that, your amazement will cease.
Like I said, we can all blog to our hearts content, but unless you start shaking the tree a little and writing to your elected officials, those we have elected to do the peoples busniness will continue to steam roll us into financial oblivion. I think may in our country have gotten to the "I'm mad as hell and I'm not going to take it anymore" stage. Now.......What are we the people going to do about it?
Becoming Amish seems almost attractive...
: )
We've had the shock, and this is the awe.
Exactly. The US will be so much easier to pillage under Paulson's plan for even more deregulation and less oversight. In effect, the Fed will have more power to do nothing.
Fox, meet Henhouse
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