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Speaking from the pedistal of retirement, having been through several such "recessions," I can suggest that you look for a job totally different from what you were doing. If you lost your job in your field in February, the chances are nobody is hiring in that field right now. Sadly, you're not likely to find good long-term employment, shop for a job where people don't look: department store sales, flipping burgers, waiting tables, like that. I know, you didn't train for that. Me neither. But otherwise, you'll be living off savings for another while.
No offense, I hope. My point is to advise realism. Dreams are for people who are asleep.
http://www.encyclopedia.com/doc/1G2-3468302984....
We have pissed away $1,000,000,000,000 (THATS 1 TRILLION) in an illegal war and here we are going to piss away another trillion or so to bail out all these assholes. People who borrowed and had no clue how to pay the mortgage from the get go and banks who gave loans with no collateral. It was the same as the Savings and Loan just a different scam but all revolving around loans that were bad from the get go. Is anyone going to go to jail this time. The Keating Five didn't, Neil Bush didn't nor did any of the other swindlers we bailed out. Neil gave a $100 million dollar loan on a piece of desert with tumbleweeds and a 3 year old cadillac. The guy making the loan has never been seen since and not a single one of the loans was ever paid back but we bailed out the banks.
Pelosi and Reid where the fuck are you. Dodd, the mortgage bill you are presenting was written by the banks for you so they are protected. Who is going to pay my fucking loan when the dollar won't buy a bag of cow shit.
Apparently whining makes Phil Graham cry.
http://www.breitbart.com/article.php?id=D91RUI6...
IndyMac was well known for non-verification of income for home loans and was ass-deep into subprimes. That's no way to run a business.
In DC, where Ablog is based, two major television stations (WRC and WUSA) may soon be wheeled onto the selling floor.
WUSA, once a ratings and profits powerhouse, has steadily lost viewers and revenue under Gannett's parsimonious guidance. The #1 turned 5th place station may, due to a $3.5 billion capital write-down and the plunge of GCI stock (closing at $17.77 yesterday and capping a 2008 freefall of 68%), simply find itself ownerless rather than for sale.
WRC, like many other increasingly unwatched local TV stations, may be sold to fuel a possibly quixotic reorganization and web focus for GE/Universal in the changed marketplace.
As with failed Team Bush, the perps wanna walk...The big question, will they?
http://gannettblog.blogspot.com/2008/07/stock-s...
http://www.forbes.com/feeds/ap/2008/07/11/ap520...
http://uk.reuters.com/article/technology-media-...
HAVE YOU HAD ENOUGH OR DO YOU WANT MORE?
but those of us on the left were right eight years ago and ALREADY knew this...
One detainee claimed in the report that he was forced to stand on one leg for hours without his prosthesis and his arms chained to the ceiling...They described not just standing, but being kept up on their tiptoes with their arms extended out and up over their heads, attached by shackles on their wrists and ankles, for what they described as eight hours at a stretch. During the entire period, they said they were kept stark naked and often cold.
http://tpmmuckraker.talkingpointsmemo.com/2008/...
Bush's destruction of the United States is almost complete and he's got a whole 'nuther six months to spend on his other favorite activity...planning War Against Iran.
Six more months! Yeeee Hawwwwww!
I'm glad we don't have spineless democrats in the Congress and those up for candidacy standing ready to defend our nation! Oh wait...
http://www.fdic.gov/about/learn/board/board.html
Obviously, these idiots just like to have their pictures taken and collect a salary, for doing nothing.
This administration has failed miserbaly in addressing both the banking crisis as well as the energy crisis, and the American people are going to have to pay a very heavy financial price for federal regulators that waited far too long to do anything about Indy's financial problems. Schumer stated the obvious that many had seen, but no one was willing to talk about. In either case, even if Schumer hadn't said anything, the financial facts can't be changed. The bank was insolvent and should have been closed down months ago.
If you want to be fair to the managers at IndyMac, it would have been better for them to quit months ago which in turn could have possibly brought in new management that may have solved the banks problems sooner. But no and so typical of the Republican mind set. As I've said before, denial isn't just the name of a river in Egypt.
I don't think P.T. Barnum came close...Why, a sucker must now be born every thousandth of a second.
http://www.fdic.gov/news/news/speeches/chairman...
in which she said, "The failure of a large bank remains highly unlikely–and I am certainly not predicting one–but for many it is no longer unthinkable."
And, does this sound familiar? Also taken from that speech:
"When I was here last year, I described the evolution of "too-big-to-fail" for commercial banks and the two events that served as the book ends for how the U.S. has approached the tradeoff between stability and moral hazard - the resolution of Continental Illinois in 1984 and the passage of the FDIC Improvement Act of 1991, known as FDICIA."
Heckuva job, Sheila...
Tony Snow has died. Didn't like his politics but I did like him.
http://thinkprogress.org/2008/07/12/tony-snow-h...
Saying you didn't like his politics is like saying you didn't like Adolph Eichmann's "politics." Tony Snow enabled the deaths of hundreds of thousands of innocent people.
I have the video posted on my site:
http://www.pinkpanthersblog.com/
and Kash also writes on our web site:
http://www.boomersooner.com/
Just an FYI. Oh yeah, the press keeps butchering our name. Its pronounced "Bee-chum" - Norman English pronunciation.
-Tim
The conservatives have had their way: businesses are less and less regulated. Now the rest of us will have to bail them out.
In my mind the executives and board members should be hit up to cover some of the losses. They're the ones who made the disastrous decisions not us taxpayers.
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'The Fannie/Freddie Crisis Is the Collapse of the Greenspan Bubble'
The intensifying crisis of the government-backed mortgage enterprises Fannie Mae and Freddie Mac "signals the final collapse of the Greenspan bubble," economist and Democratic statesman Lyndon LaRouche commented today. "This is not a crisis of these two institutions," LaRouche emphasized. "It is the concentrated collapse of the entire globalized debt bubble Greenspan created—falsely called the 'U.S. subprime mortgage bubble'—falling onto these two institutions. And it signals that the next phase is the total explosion of entire financial system."
Fannie's and Freddie's huge mortgage-bundling and mortgage- securitization operations, with their resulting highly debt-leveraged condition, do not result from Fannie Mae's secondary mortgage function as defined by President Franklin Roosevelt's New Deal; rather, LaRouche insisted, these are the direct result of Fed Chairman Alan Greenspan's using these institutions in the creation of giant real estate-based debt bubbles from 1990 on. "Greenspan created this monster," LaRouche said. "This Greenspan monster is the problem today. The Greenspan debt-bubble monster, and the EU's Maastricht Treaty forced through by Margaret Thatcher's British government in 1990, are the keys to the current, worsening physical-economy breakdown in both Europe and the United States. The next phase is a total explosion of all the banks, the entire financial system."
Fannie and Freddie have been widely reported this week as "insolvent," threatened with bankruptcy collapse, and requiring a huge government bailout in the near future, as a result of taking on huge losses in the collapse of the mortgage bubble. Their stock market values have been driven down to 15-year lows, and their costs for borrowing have been driven up to more than 2% higher than Treasury securities, which is unprecedented. The two are handling over 80% of the secondary mortgage market in United States, all the other financial institutions in it having gone bankrupt or fled the mortgage markets.
"The policies I've proposed have to be enacted immediately now to prevent total financial collapse," LaRouche said, referring to his Homeowners and Bank Protection Act, proposed two-tier credit regulation of the U.S. economy, and emergency meetings among major nations to establish a New Bretton Woods, a modified return to the Bretton Woods monetary system principles put in place under FDR.
You see the real fight isnt between repukes and dems. they are one in the same and take the heed of their masters.
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Soros: I Oppose Regulation; Congress Too Dumb
July 10 (EIRNS)—In the same July 9 National Public Radio "On Point" interview on WBUR, webcast worldwide, in which he denounced LaRouche's exposure of his crimes, George Soros categorically opposed returning to the pre-1970s sovereign government regulation of finance.
"I don't think that we should go back to the over-regulated conditions that prevailed in the aftermath of the Great Depression," Soros said. "So I'm not in favor of regulation, as such.... Markets are better than regulators, because markets are more flexible...."
Soros remarked, with the disdain of the emperor who expects to own any regulators, "I testified before Congress recently, and I must say I was quite negatively impressed with the understanding of the legislators who are actually making those rules."