Morgan Mghee

The Five Biggest Republican Lies

Wed, 03 Sep 2008 22:16:09 GMT

Whatever half-hearing convention the Republicans cobble together in Minnesota this week, you’re going to hear the same lies they’ve been peddling for years. Under the weight of the Bush administration’s failures, though, even pretense is collapsing. Let’s finish off the job.
Here are their top five lies:
1. Republicans are Fiscal Conservatives
Bush is leaving office with the deficit through the floor.
2. Republicans are Strong on National Security
Republicans have been running against Jimmy Carter since 1980, despite the fact that Democrats have strong traditions of military service and tactical skill in wartime. So where is the proof that the GOP can win wars or keep our country safe?
3. Republicans Defend Individual Rights
Another good joke. You want to tell me how Democrats might take your gun away? Let me ask you this: what good will the Second Amendment do you without the First, Fourth, Fifth, and Fourteenth?
4. Republicans Represent Family Values
By their own standards, Republicans have failed to live out the values they affirm. A corrupt party full of self-loathing homosexuals (for whom I have pity) and child molesters (for whom I have only anger) can no longer claim to represent anyone’s values - whether it be conservatives or liberals.
5. Republicans Just Want Everyone to Have the Same Opportunities
When Republicans rail against affirmative action, universal health care, or social programs, they claim to want a society where everyone “starts in the same place.” But as we’ve seen above, Republicans always create at least two sets of rules. One for the politicians, another for the voters.
Click below to see the complete information on the five biggest Republican lies.
The Five Biggest Republican Lies - The Seminal :: Independent Media and Politics

del.icio.us Tags: republicans,politics,5 biggest republican lies,the seminal,republican,election2008

The Stimulator's DNC Rebellion Coverage

Tue, 26 Aug 2008 00:43:32 GMT

$50 Million Tax Dollars for Denver to Protect our Government from it's People

Is This the Way? - Zionist Policy

Thu, 21 Aug 2008 21:25:56 GMT

WHILE ACKNOWLEDGING that the Jewish conquest of Palestine was driven by great need, Zander argues that "we never admitted that our return requires from the Arab a sacrifice of the first order."
Deploring the fact that the Jews have refused to accept any guilt, he writes: "We have blamed everybody but ourselves; and very few of us have indeed accepted the full share of responsibility for what has been done."
He continues in a passage that could have been written yesterday: "The main task, as in all periods of the whole movement, remains the solution of the Jewish-Arab problem. It is obvious that ultimately peace with our neighbors is required if the Jewish state is to survive. At present we are trying to achieve this peace by force and to build up in feverish haste the military strength which is to guarantee our security. But under no conditions can force be enough."
Reading and listening to the daily comments by Israeli political leaders and commentators, one cannot help but admit that reliance on force remains a central pillar of our policy and general approach. Against this prevailing attitude, let us consider the wise and courageous words written 60 years ago by Walter Zander, a thoughtful attorney, living in Gerards Cross near London: "It is obvious that this situation creates a particular responsibility and obligation on our side. The spirit of mutual retaliation and vengeance - aiming at subduing the opponent by fear - is not only utterly senseless, but, as far as we Jews are concerned, fundamentally wrong. We Jews should have a deeper insight and should be able to see both sides of the problem. It is we who aim at a change of the existing conditions, and it is therefore our duty to find a solution. The initiative for this task must remain with us."

To read the complete article click: Is this the way? | Op-Ed Contributors | Jerusalem Post

del.icio.us Tags: zion,israel,palestine,politics,walter zander,is this the way,jews,arabs,peace

Why I'm Supporting Ralph Nader - Ashley Sanders

Tue, 19 Aug 2008 09:42:59 GMT

Political Issues that Matter for 2008

Scientists' Report Documents ExxonMobil's Tobacco-like Disinformation Campaign on Global Warming Science

Sat, 16 Aug 2008 11:31:43 GMT

Oil Company Spent Nearly $16 Million to Fund Skeptic Groups, Create Confusion

ExxonMobil Report
Full Report (PDF)
Appendix C (hi-resolution PDFs)
Part 1 (hi-resolution PDF)
Part 2 (hi-resolution PDF)
Part 3 (hi-resolution PDF)

WASHINGTON, DC, Jan. 3–A new report from the Union of Concerned Scientists offers the most comprehensive documentation to date of how ExxonMobil has adopted the tobacco industry's disinformation tactics, as well as some of the same organizations and personnel, to cloud the scientific understanding of climate change and delay action on the issue. According to the report, ExxonMobil has funneled nearly $16 million between 1998 and 2005 to a network of 43 advocacy organizations that seek to confuse the public on global warming science.
"ExxonMobil has manufactured uncertainty about the human causes of global warming just as tobacco companies denied their product caused lung cancer," said Alden Meyer, the Union of Concerned Scientists' Director of Strategy & Policy. "A modest but effective investment has allowed the oil giant to fuel doubt about global warming to delay government action just as Big Tobacco did for over 40 years."
Smoke, Mirrors & Hot Air: How ExxonMobil Uses Big Tobacco's Tactics to "Manufacture Uncertainty" on Climate Change details how the oil company, like the tobacco industry in previous decades, has :

raised doubts about even the most indisputable scientific evidence
funded an array of front organizations to create the appearance of a broad platform for a tight-knit group of vocal climate change contrarians who misrepresent peer-reviewed scientific findings
attempted to portray its opposition to action as a positive quest for "sound science" rather than business self-interest
used its access to the Bush administration to block federal policies and shape government communications on global warming

Click here to continue reading original article

del.icio.us Tags: global warming,exxonmobil,fraud,corporatism,corporatemanipulation,propaganda,bush,union of concerned scientists,oil,bloodoil

Send Karl Rove to Jail!

Wed, 30 Jul 2008 18:25:00 GMT

The HJC just voted 20-14 to hold Karl Rove in contempt!
WHAT THIS MEANS: The decision by the HJC to hold Karl Rove in contempt is a recommendation to the full House, who can now vote to adopt the recommendation with a contempt resolution by a simple majority vote. Should they pass a contempt resolution, the Sergeant-at-Arms for the chamber would be ordered to arrest Karl Rove and bring him to the floor of the House to answer to the charges and to be issued punishment. The case would then be referred to the U.S. Attorney for the District of Columbia, who would in turn refer it to a grand jury. If convicted, Rove could face between one month and one year in jail.
BACKGROUND: Karl Rove has made a career out of distorting facts to destroy political rivals. In the case of former Alabama Governor Don Siegelman, he went even further: he deliberately put a political opponent in prison based on trumped up charges. The GOP couldn’t beat the most successful Democratic politician in recent Alabama history at the ballot box. So instead, at Karl Rove’s direction, the Bush Justice Department used U.S. attorneys to cook up a false criminal case against Siegelman in order to hand the Governor’s Mansion over to the Republican Party.
It’s no surprise that Karl Rove puts politics before due process, democracy and civil rights. That’s why even when faced with a subpoena from Congress, Rove has refused to testify. Unlike Don Siegelman, Karl Rove is breaking the law.
Rove believes that he is not only above the law, but that he controls it. He’s wrong.
Sign our petition. Send Karl Rove to jail.
UPDATE 7/23 8PM ET: 100k signatures!

Send Karl Rove to Jail!

del.icio.us Tags: karl rove,rove,send karl rove to jail,rove in contempt,petition,politics,impeach,bravenewfilms

Paul Craig Roberts: Are You Ready for the Facts About Israel?

Sun, 27 Jul 2008 06:11:16 GMT

“On October 21 (1948) the Government of Israel took a decision that was to have a lasting and divisive effect on the rights and status of those Arabs who lived within its borders: the official establishment of military government in the areas where most of the inhabitants were Arabs.”

Martin Gilbert, Israel: a History

I had given up on finding an American with a moral conscience and the courage to go with it and was on the verge of retiring my keyboard when I met the Rev. Thomas L. Are.
Rev. Are is a Presbyterian pastor who used to tell his Atlanta, Georgia, congregation: “I am a Zionist.” Like most Americans, Rev. Are had been seduced by Israeli propaganda and helped to spread the propaganda among his congregation.
Around 1990 Rev. Are had an awakening for which he credits the Christian Canon of St. George’s Cathedral in Jerusalem and author Marc Ellis, co-editor of the book, Beyond Occupation.
Realizing that his ignorance of the situation on the ground had made him complicit in great crimes, Rev. Are wrote a book hoping to save others from his mistake and perhaps in part to make amends, Israeli Peace Palestinian Justice, published in Canada in 1994.
Rev. Are researched his subject and wrote a brave book. Keep in mind that 1994 was long prior to Walt and Mearsheimer’s recent book, which exposed the power of the Israel Lobby and its ability to control the explanation Americans receive about the “Israeli-Palestinian conflict.”
Rev. Are begins with an account of Israel’s opening attack on the Palestinians, an event which took place before most Americans alive today were born. He quotes the distinguished British historian, Arnold J. Toynbee: “The treatment of the Palestinian Arabs in 1947 (and 1948) was as morally indefensible as the slaughter of six million Jews by the Nazis. Though nor comparable in quantity to the crimes of the Nazis, it was comparable in quality.”
Golda Meir, considered by Israelis as a great leader and by others as one of history’s great killers, disputed the facts: “It was not as though there was a Palestinian people in Palestine and we came and threw them out and took their country away from them. They did not exist.”

To continue reading this article:

Paul Craig Roberts: Are You Ready for the Facts About Israel?

del.icio.us Tags: politics,israel,palestine,America,Bush,war,deceit,religion,peace,faith

Exploring Realities Of Offshore Oil Drilling : NPR

Sat, 19 Jul 2008 09:25:47 GMT

Listen Now [17 min 46 sec]

A rare and endangered blue whale, one of at least four feeding 11 miles off Long Beach Harbor in the Catalina Channel, spouts near offshore oil rigs near Long Beach, California. Getty Images David McNew

Talk of the Nation, July 18, 2008 · In a time of ever-increasing energy prices, this week President Bush overturned a long-standing executive order banning offshore oil exploration in certain parts of the country. The move is largely symbolic at this point, as additional congressional action would be needed to fully open up offshore oil drilling.

Offshore drilling has also turned into an election-year issue, with presumptive Republican presidential candidate John McCain supporting ending the drilling ban, while the campaign of presumptive Democratic nominee Barack Obama says opening up offshore drilling "would merely prolong the failed energy policies we have seen from Washington for 30 years."

Robert Kaufmann, director of the Center for Energy and Environmental Studies at Boston University, talks about the realities of offshore oil drilling, including how much oil there might be, when it would be available and what the consequences could be.

Naomi Klein’s Controversial Speech at subMedia

Thu, 17 Jul 2008 21:45:28 GMT

Wow, check out stimulator! Servin' one up to investigative journalism. Thanks man!

Naomi Klein’s speech at the National Conference for Media reform was not included on the conference website. subMedia contacted Free Press, the organizer or the conference, to ask why The Shock Doctrine author’s speech could not be found online, and the person explained that Free Press is a non-profit organization and that I should reefer to the disclaimer on their website which reads:

"Despite our best efforts, we feel that some of our speakers encroached on electoral space during their remarks at the National Conference for Media Reform. It is not in our interest to disseminate these recordings. We are reviewing all of our video content and will add that which we determine to be free of electoral statements to this page."

I don’t quite understand how these things work, but whatever. Two sources have told me the reason Free Press did not include the speech was Klein’s criticism of Barack Obama. It would be pretty fuckin lame if it were true.

But fuck it, I got a hold of a copy of the speech and here it is.

Read Klein’s article "Obama’s Chicago Boys" published in "The Nation"

Download this Episode

Buy This Episode on DVD

Check out Naomi’s film "The Take"

Naomi Klein’s controversial speech at subMedia Where you can get the embed code.

LiveJournal Tags: naomi klein's controversial speech,naomi klein,politics,election2008,candidate,president,democracy,national pride,corporatism,action,peace,honor the deal

Lieberman Must GO!

Wed, 09 Jul 2008 00:33:38 GMT

Technorati Tags: lieberman,democrat,bush,mccain,iraq,senate,steering committee,chairman

"We CANNOT tolerate a leader of the Senate Democratic Caucus who supports George Bush and McCain's War in Iraq. We CANNOT tolerate a Democratic chairman of the Homeland Security and Government Affairs Committee who endorses and stumps for McCain. We call on the Senate Democratic Steering Committee to strip Joe Lieberman of his chairmanship and his leadership role."

This petition will be presented tomorrow, will your name be on it?

Recent signers:

Andrea Tung signed less than a minute ago.
Dennis Grabowski signed 1 minute ago.
He's a despicable wishy-washy political character . . . . people of Conneticut should be embarrassed !
Roy Clendaniel signed 1 minute ago.
Lois Kain signed 2 minutes ago.
Lieberman is not only an embarrassment to the Democrats, he is also a horrible example of a person of the Jewish faith.
I would NOT want him "watching my back"
Todd Cooper signed 3 minutes ago.
Aimee O'Neill signed 3 minutes ago.
John Barnes signed 4 minutes ago.
Joseph Lieberman is political and social cancer. He's a disease in the heart of American politics.
Sheila Fortner signed 5 minutes ago.
If it walks like a duck and quacks like a duck...
fred thomas signed 6 minutes ago.
kendall johnson signed 6 minutes ago.
Lieberman can think he knows what is best for us, but he has to DO what we tell him to do, that's the job. Much like the position he holds now is by way of the Democrat party, think all you like but do the job or your fired.
Anonymous signed 7 minutes ago.
Kevin Schneider signed 12 minutes ago.
The Republican must go.
Therese McNally signed 12 minutes ago.
Enough with the right's failed agenda and Lieberman's turncoat position. We want a real democrat representative of the party.
Anonymous signed 13 minutes ago.
Anonymous signed 14 minutes ago.
Pamela Franzen signed 14 minutes ago.
Joe must GO!
Elyse Littenberg signed 15 minutes ago.
Robert Weisberg signed 16 minutes ago.
Anonymous signed 16 minutes ago.
Nick Gibbons signed 16 minutes ago.
No one exemplifies the politics of fear better than Joe Lieberman. I would highly encourage objective observes to read the transcript from This Week on ABC which aired on 07/06/08.

See more signers →

Ralph Nader - This Week with George Stephanopoulos

Sun, 29 Jun 2008 23:20:01 GMT

I'm firmly of the opinion that you cannot 'spoil' a vote, or 'steal' a vote simply by running in opposition and stating your issues. I suppose you could by hinting at or agreeing with one audience, and then later changing your mind on that issue. I suppose you could by hiding key details about previous business dealings that may in the future cause harm to our reputation. I suppose you could by backing an electronic voting system proven to be easily hacked and compromised. I guess a mobile team of legal experts filing complaint after complaint in courts across the country to challenge your opponents right to be on the ballot, that could do it. Convincing the media not to give your opponent air time wouldn't hurt the effort...the stealing of votes that is. A perpetual whisper into the wind 'He's Crazy' just to tie things up in a neat little package. Certainly, all good ways to steal votes. But when you simply put yourself out there, and say it like it is, no splash graphics or multi-million dollar budgets, and millions of people vote for you and not your opponent? I think that's called your opponent 'Losing Votes'. Can you imagine, had Mr. Nader been given equal air time and not been blocked from ballots, how many millions of people would have cast their vote for him? There is a reason he resonates with so many Americans, this summer take the time to learn about Ralph Nader. You have nothing to lose by listening, and maybe doing a little followup, what you have to gain is priceless, American Pride.
Campaign page outlining Mr. Nader's stance on many issues
Grist's Candidate Information Page
Candidate Quiz by Glassbooth
Quotes on several issues.
2004 stance on issues
A history of Nader on the Issues
I had planned on including a few other candidate quizzes here, only a few include any other names but the D and R candidates. But a strange thing happened on the way to democracy. Two had taken down all but O and M, one was questionable because when I took the quiz again just to verify that all was well it wasn't. I found myself suddenly facing Sen. Obama!

There are key policy issues we disagree on, so there was something hinkey going on. A quick check finds most of Nader's answers reduced to one or two lines, with most being listed as "decline to answer". Are we talking about the same Ralph Nader? First of all, I can't imagine him declining to answer anyone, about anything, much less issue questions related to his own presidential campaign. Second, even faced with being hard to reach for comment (He's not, give him a call) there are decades and decades of spoken and printed words to draw from for these answers.

Not only that, but check out the world's leader in targeted ads. Again, decades of references behind him, and 2 out of 4 targeted ads based on Ralph Nader pull Obama and DNC results? C'mon. Well, this is a pretty good illustration of the obstacles facing the Nader/Gonzalez campaign. I hope you take the time to review what this legendary man has to say, and imagine what he can do for us.
Technorati Tags: Nader,Ralph Nader,politics,election,president,stephanopoulos,obama,grist,glassbooth,google,MSM,media

Representative Ed Markey Exposes Probable Data Manipulation

Fri, 20 Jun 2008 02:45:17 GMT

Or at the very least, basic methodology and communication problems between data providers and users. Either way, it seriously calls into question all of the reports and decisions that have utilized the data. Not only those that have been made in the past, but have been made recently regarding our consumption now and in the future. It's a fishy, fishy situation with incredible coincidental timing, don't you think? I'll be keeping my eye on it.

Bush Administration Still Dangerous

Wed, 11 Jun 2008 20:59:32 GMT

Hooking Your Toilet to the Kitchen Tap
-Sierra Club

"Atlanta, GA -- In most states, it's illegal to connect your toilet so that it drains through your tap. But on a larger scale, the Bush EPA is prepared to declare that this is, in effect, allowed under the Clean Water Act. At least that's what the agency told a conference of water managers here will be permitted by a new agency rule.

According to a new agency rule, anyone -- an industry, water agency, municipality -- can take dirty water from any body of water, use it (as long as they don't make it dirtier), and then dump it into a clean body of water -- without applying for a Clean Water Act permit. The industry or agency dumping the water can take as much dirty water as it wants, move it as far as it wants, and dump it wherever it wants -- regardless of the impact on the body of water."

Previously I've blogged about the blatant disregard for our environment demonstrated by our Environmental Protection Agency; EPA Missing in Action, and similar in-actions by other Bush Administration agencies; Crossing a Line and Villainous Nominee . Now we can add that the Department of Defense, under criticism during the Bush Administration for contracting out vital military tasks putting into question the nation's security, has Contracted Out Contractor Oversight. The 'Fly in your Face' attitude doesn't stop there, Bush's FCC is now being asked to probe the Bush administration's Propaganda Program! A bit like having inmates of cell block C check cell block D for paraphernalia. Let's not forget the USDA, that decided to shut down a congressional audit and advise it's employee's not to cooperate.
It seems to me there are an awful lot of 'Long Term Plans' being laid last minute by the bought and corrupted officials placed in our agencies by this administration, especially considering his 'New Rule' of 'No New Rules' from agencies after June 1st.

"While the White House called the deadlines "simply good government," some legal specialists said the policy would ensure that rules the administration wanted to be part of Mr. Bush's legacy would be less subject to being overturned by his successor. Moreover, they said, the deadlines could allow the administration to avoid thorny proposals that are likely to come up in the next few months, including environmental and safety rules that have been in the regulatory pipeline for years. "

The Administrations reach has even made it to NASA, where it's interference will not only effect Americans, but the world, and their view of us.

Considering the mounting effort to both impeach and indict Bush and Cheney;

Bush Faces Domestic Lawsuit for Illegal War

Veterans for Peace Call for Impeachment

Congressional Candidate Calls for Impeachment

Nader Calls for Immediate Impeachment

56 in Congress say Investigate Bush

Kucinich Introduces Impeachment Articles against Bush

you'd think someone would have put a stop to the actions being taken, permanent actions, detrimental actions that if implemented for even a short time will have long lasting devastating effects. In light of these slap in your face words and deeds;

Bush Misused Iraq Intelligence

Bush Wants Immunity for Mercenaries in Iraq

And the Topper: Bush Pardons Self from War Crimes

Extraordinary steps must be taken to stop the last minute actions planned by this criminal administration. A precedent needs to be set for not only the top guy, but all the little trickle down guys and gals as well. Education, communication and technology have opened up the world, we need to pay attention to the faces we present and take responsibility for our voting actions.

Technorati Tags: impeach,politics,bush,cheney,nader,kucinich,congress,veterans,EPA,FCC,FHA,USDA,FEC

Scott McClellan's Timing

Wed, 28 May 2008 17:08:37 GMT

You know, there is nothing quite like releasing a politically nuclear book during a presidential election to cast speculation and doubt on an authors integrity and intent. Below is a sort of loose chronology of the events, and while I didn't really follow this story, it appears that threats of this book have been dangled before us for a couple of years at least. The book, What Happened: Inside the Bush White House and Washington's Culture of Deception, is commented on by the Washington post which received an advance copy. They refer to the criticism of Bush as "striking, given that it comes from a man who followed him to Washington from Texas." I believe this man probably has a lot to say and is probably very brave for saying it. I hope as I muddle through the details of this story it becomes clear the reason for the timing on the release of this book, and that the reason is a good one.

Press briefing by Scott McClellan 07/11/2005

Former aide McClellan Blames Bush,Rove in CIA case 11/20/2007

McClellan points finger at Bush,Rove 11/21/2007

Did Bush ask Scott McClellan to lie or didn't he? 11/21/2007

Publisher: McClellan doesn't believe Bush Lied 11/21/2007

Scott McClellan Didn't out Bush for High Crimes...Cheney Did. 11/23/2007

McClellan whacks Bush, White House 05/27/08

Scott McClellan Knifes the White House 05/27/2008

Former WH Press Secretary, Scott McClellan, Finally Says What the Rest of the World Has Known for Six Years 05/28/08

McClellan on Sourcewatch User edited wiki, ought to be fun to watch.

Technorati Tags: mcclellan,scott mcclellan,what happened:inside the bush white house and washington's culture of deception,bush,cheney,rove,press secretary

All Players On Stage Please

Fri, 23 May 2008 20:08:26 GMT

DING! We Have a Winner!

For several months I've blogged about the 'unnamed' contributors to the mortgage crisis that had yet to really be named. Check Confessions, Opinions, Rocket Science or Fraud for some background on my perspective. Today the Senator from Pennsylvania Robert P. Casey Jr. speaking at the Housing & Urban Development Secretary Confirmation asks Nominee Steven Preston, regarding standards that apply to the appraisal issue, "it's my understanding that HUD has eliminated the test for appraisers, and just want to get your sense of that, I've been deeply concerned about this aspect of the challenge that we have with housing, that we have independent appraisals, that we get them done in a very professional way, that the people that are doing the appraisal work have the kind of skill and background and education. I have an amendment on that that was included in the legislation we passed Tuesday. Senator Martinez and I worked together on appraisal issues and I appreciate his work on that as a former HUD secretary and now as a United States Senator, but I wanted your sense of that in terms of the testing issue and also with regard to relaxing of repair and inspection requirements, just get your perspective on both those issues."

Here you will find some detail of Mr. Casey's thinking on the appraiser issue. While his concern seems to stem from a 'Flipping' scheme, the effects of his efforts should have the desired results across the board. In my own experience as well as from looking at defaulted loan information it is clear that these appraisers had their hands in more than just some flipping scheme. Wherever sales prices jumped that is where you will find the 'bumped' appraisal value. From including comparables far outside the usual range without substantial justification to adding imaginary outbuildings and other improvements and who knows what else.

S. 2860 Fair Value and Independent Appraisal Act information.

Technorati Tags: economy,fha,finance,housing and urban development secretary,HUD,mortgage,mortgage crisis,Robert P Casey Jr,S 2860,Senator Casey

Policy Talks@Google: Ralph Nader

Wed, 14 May 2008 17:00:07 GMT

Nader is not easily dazzled by technological wonders. The Nader Team Blog

Throughout his career, Nader has confronted head-on the downside of nuclear, automobile, genetic engineering and other industrial advances.

And now he's questioning the enormous amount of time we spend in front of our computers.Has Google and the information revolution that it leads made our society better?Or is it just another mass diversion from the reality of the corporate takeover of our democracy?

At Googleland, Nader took questions for an hour. And then sat down for an eight-minute interview with Youtube.Nader/Gonzalez is confronting head-on the reality of the corporate takeover of our democracy.

As you know this week, we are raising money to get Nader/Gonzalez on the ballot in the Land of Lincoln - Illinois.

In just five short days, 462 of you - on-line and face-to-face at Nader/Gonzalez rallies on the West Coast - have donated $43,718.

Thank you.

Jason Castro - Somewhere Over the Rainbow

Thu, 08 May 2008 06:00:54 GMT

Quote

YouTube - Jason Castro American Idol top 8 Somewhere Over the Rainbow

This is probably the most inspirational, moving performance I have heard in years. Take the time to listen to and copy this, listen to it daily like I do, you will find it comforting, moving, sorrowful and joyous and maybe more.

Mortgage Fraud on the Table But..

Sun, 04 May 2008 23:18:59 GMT

Resolving the mortgage fiasco is going impossibly long, and while words like 'fraud' and 'scam' have been floating since the beginning, they are really only now making big news. Unfortunately they still haven't much referenced the collusion between the lenders and appraisers, and in taking it a step further, the local assessor officials. I began blogging at the beginning of this mess, Not Rocket Science and Confessions of a Mortgage Broker, trying to illuminate the 'Big Picture' in my view regarding the chain of events and participants. Appraisers and local property assessors played a bigger role in my situation than has been discussed in any meaningful way, and as events unfold it becomes more and more clear that my situation mirrors the national situation pretty closely. That having been said, I do not suffer from a 'impending doom' adjustable mortgage, and I did manage to buy my properties before the effects of what was happening hit the actual prices.

I will blog more about my own story another day, for now I just want to re-state the chain of events as I see them:

Interest rates drop to insulate us from the global economic decline of late '80's early '90's.
Home mortgage rates decline a sufficient amount (8% to 6%) to spur massive refinance loans.
Increase in refinance opportunities spawns massive increase in new lending company openings.
Increase in new loans spawns massive increase in new appraisal company openings.
Rate decrease lowers monthly payments on small 1st time buyer type homes enough to entice marginal buyers.
Greed Kicks In.
Inexperienced or questionable lenders target sub-prime market, develop/enhance 'no document' type loans.
Above spurs 'Sellers Market' in home sales, agents take cue and raise sales prices.
Lenders 'acquire' friendly appraisers to bump values and justify newly raised prices.
Lenders/Underwriters accept new valuation methods from appraisers.
Local assessors looking to boost revenue make record number of rate increases over 10 year period keeping up with market values.
Lull in action spurs intense ads targeting sub-prime market with adjustable rates.
Refi's and new purchases slow, huge pool of lenders look to create business, increase 'no document' type loans, rates stay low, prices continue to rise without value.
After the first few rounds of adjustables become due, large numbers head into default causing loan qualifications to tighten. Borrowers look to refi as instructed but find qualifying tougher, and lower home values no longer match loan amounts.
Massive defaults of sub-prime adjustable rate loans.
Lower values make even fixed rate loans virtually un-refinanceable.
Lenders (also the President and Mr. Mccain) blame irresponsible borrowers.

The rest, as they say, is history. A huge number of other things contributed to our situation, had all of these things happened at any other time it may not have ended with the same result. We need to clearly identify the failings in the system and make adjustments. This is a very good example of how a 'Free Market' approach with no real oversight or regulation doesn't come close to being a good idea. Free market for razor blades and cabinet doors, sure, but lets get together on things that effect our country as a whole like lending, health, transportation, energy and lets not forget military.

How Fraud Fueled the Mortgage Crisis:

"Brokers pushed borrowers to lie, lenders misled and ratings agencies looked the other way.
The debate over what caused the mortgage mess and how best to fix it is now taking a sharp turn, as new problems surrounding liar's loans and payment-option mortgages reveal the pervasive fraud, lying and deceit that permeated the market at its height.
As loans made to borrowers with decent credit begin to fail at a surprisingly rapid rate, it's becoming clear that widespread fraud helped support the entire mortgage system - from borrowers who lied on their loans, to brokers who encouraged it, to lenders who misled some low income borrowers, to the many lenders, investors and ratings agencies that conveniently and deliberately looked the other way as profits rolled in."

"Despite its widespread role, fraud hasn't yet been at the forefront of proposed rescue plans, which center on refinancing people out of loans now resetting to higher rates. That may begin to change as the mortgage market continues a meltdown that seems to have no end. As fraud becomes a focus, the question of who did most of the lying and cheating will be crucial in deciding who deserves help in any housing rescue plan. "

"Many people point the finger at investors playing the market or homeowners who bought more expensive houses than they could afford - the "irresponsible" borrowers cited by both President George W. Bush and probable Republican nominee Sen. John McCain (R-Ariz.). "
By Mary Kane
The Washington Independent

April Fools Day in the US House of Representatives

Wed, 23 Apr 2008 19:19:06 GMT

Rep. Peter DeFazio of Oregon says it feels like it's April fools day at the US House. After listening to Rep. Shimkus of IL demand that since Europe has turned to coal for energy, we should too and 'WHEN WILL WE?" before yielding the floor to the Rep from GA Phil Gingrey who stands to announce that he has come to the floor supportive of the small business innovative research act, and with amendments approved he intends to support the bill. He goes on to say (with the help of a large red placard graphic titled "THE PELOSI PREMIUM") "That the price of gasoline the day Bush was sworn in was $1.49, the day Mrs Pelosi was sworn in the price was $2.33 and 15 months into her leadership gas prices have spiked to $3.50 per gallon." He continues the disparagement by saying this is "deplorable" when the Democrats campaigned and made a pledge to bring down the price of gasoline. Next Mr. Defazio listens to Rep. Vernon Ehlers of MI, who claims that the increases to SBIR and STTR are out of line because they come out of the budgets of other agencies. As an example he uses NIH (National Institutes of Health). After a quick statement eluding to the fact that without full consent of the science committee, and little time to meet these funding cuts were made. He proclaims none of his colleagues want to reduce the funding for the national science foundation or the Dept. of Defense. Mr. DeFazio rises, "I believe it's April Fools Day here on the floor of the house, to hear the members of the 'Grand Old Oil Party' talking about how they are there for the consumers, they want to do something to help American consumers. The same party that benefits disproportionately from massive campaign contributions, from the oil and gas and coal industries," " the same party that holds the White House, with two oil men in the white house, the same party that on the senate side defeated our energy provision because they would have 'god forbid' made the oil and gas companies pay taxes like other members of the corporate community. It would have taken away subsidies, they are crying crocodile tears about the massive profits their buddies are making, their campaign contributors, their sponsors. And the president, the 'oil man' and the vice president 'the oil man' the supply services company". With fairly one breath, when asked to yield Mr. DeFazio quickly adds "no, I won't yield". The representative goes on to outline the republican white house and party issues that have effected the bottom line, including that the WTO's mandate that no company manipulate the supply of a commodity simply to drive up the price, and since OPEC is doing that and there are 5 members of OPEC on the WTO, "will this president, the oil man, the friend of the Saudis and the others, will he file a complaint? No, I wrote to him 3 years ago asking him to do that, the answer was no."

Mr. Shimkus, I hear they still use dynamite over the reef in the Philippines as a method of fishing, should we do that too?

Mr. Gingrey, Apples and Oranges. I'm not sure how it's pertinent to compare the speaker of the house to the president of the US. I'm not sure if a 'congrats on your promotion' card from hallmark is in order or a basket of flowers and a letter of regret.

Mr Ehlers, I went to the NIH site and looked over the awards, there under A on the first page I found ACI worldwide inc. , a communications company focused on electronic payment systems. This 'health?' company was awarded grant money in 2005. In 2007 their gross profits were $225 million, yet their net income was $9.13 million IN THE HOLE. No one is confused by your misdirection, the business' you refer to are oil companies and DOD research.

Technorati Tags: Peter DeFazio,pelosi,bush,cheney,US House,Shimkus,Gingrey,Ehlers,Small Business Innovative Research,SBIR,STTR,oil,OPEC,WTO,April Fools,politics

Complaining Accomplishes Nothing

Mon, 21 Apr 2008 21:50:50 GMT

April 18, 2008 at 17:59:38 Complaining Accomplishes Nothing by Mark A. Goldman

Have you noticed that all this complaining that commentators engage in accomplishes very little? What would accomplish something? There is only one course of action that can make a difference now. If you have a better idea, I'd like to hear it.
If you really want to make a difference and energize the discussion, the way to do it is to shift your support and attention to Ralph Nader until the media decides to take that support seriously. He consistently talks about real issues. He's the only candidate who speaks truth to power and has a record of following through. No other candidate does.

It's never too late to be true to yourself. You say a vote for Nader is a vote for McCain.... not if there are enough of them. Make sure there are enough of them.

Technorati Tags: Ralph Nader,Vote,president,election

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April Fools Day in the US House of Representatives

Complaining Accomplishes Nothing

Photo Album: 08 Bdays

Photo Album: Phone Pix

Photo Album: Graphics

Photo Album: Blog Images