Tag: crooks

850 BILLION really helped didn’t it?

850 BILLION really helped didn’t it?

The bailout that was passed last week sure has done a lot for the markets huh?

Thanks Pelosi, Frank and Reid
NEW YORK (AP) — Stocks plunged Thursday, sending the Dow Jones industrial average down 679 points — more than 7 percent — to its lowest level in five years. Stocks took a nosedive after a major credit-rating agency said it might cut its rating on General Motors and Ford, further rattling investors already fretting over the impact of tight credit on the economy.
The Standard & Poor’s 500 index also fell more than 7 percent.

The declines came on the one-year anniversary of the closing highs of the Dow and the S&P. The Dow has lost 5,585 points, or 39.4 percent, since closing at 14,164.53 on Oct. 9, 2007. It’s the worst run for the Dow since the nearly two-year bear market that ended in December 1974 when the Dow lost 45 percent. The S&P 500, meanwhile, is off 655 points, or 41.9 percent, since recording its high of 1,565.15.

U.S. stock market paper losses totaled $872 billion Thursday and the value of shares over all has tumbled a stunning $8.33 trillion since last year’s high. That’s based on figures measured by the Dow Jones Wilshire 5000 Composite Index, which tracks 5,000 U.S.-based companies’ stocks and represents almost all stocks traded in America.

Thursday’s sell-off came as Standard & Poor’s Ratings Services put General Motors Corp. and its finance affiliate GMAC LLC under review to see if its rating should be cut. The action means there is a 50 percent chance that S&P will lower GM’s and GMAC’s ratings in the next three months. GM has been struggling with weak car sales in North America.

S&P also put Ford Motor Co. on credit watch negative. The ratings agency said that GM and Ford have adequate liquidity now, but that could change in 2009.

GM, one of the 30 stocks that make up the Dow industrials, fell $2.15, or 31 percent, to $4.76, while Ford fell 58 cents, or 22 percent, to $2.08.

What I find amazing is that Pelosi, Harry Reid, and Barney Frank stood up at the podium and heaped praise on Barack HUSSEIN Obama for his leadership in this DEBACLE. SO now that it has failed, will Pelosi, Reid and Frank accept the blame for it’s failure? Ok quit laughing.. I mean it QUIT laughing damn it!

WE are watching the culmination of only 2 years of Democrat controlled congress, coupled with a moron in the oval office. It only took two years. NOW we have an opportunity to elect the one who organized the DEMOCRAT side in this BAILOUT along with his cohorts.

Picture this scene in 2010:
Barack Hussein Obama, Nancy Pelosi and Harry Reid all standing at the podium blaming the failed Bush Policies for a terrorist attack on our soil, an unemployment rate of 10% and our military forces STILL in Iraq…This is what we are going to see under a Barack Hussein Obama Presidency.. BET ON IT!

Two years of Democrat controlled Congress got us into this mess, so I ask all moderate Democrats to at least take some responsibility for the crisis… How long do you expect to shift blame for this? We are headed into the abyss and the Democrats are all fine with it, as long as Barack Hussein Obama gets to be president. That is the definition of party over country and that is the sad state of our country!

New age Grasshopper

New age Grasshopper

Very interesting and a MUST READ!

The Ant and the Grasshopper, 2008 edition
by Michelle Malkin

With what looks like imminent passage of the Mother of All Bailouts (following on the heels of a year’s worth of government-funded rescues of private homeowners, lenders, insurers, and the automakers), Washington has turned Aesop’s famous fable about prudence and hard work on its head. The time is ripe for a revised 2008 edition of “The Ant and the Grasshopper:”

In a meadow on a hot summer’s day, a Grasshopper was chirping and carousing his time away. He watched scornfully as an Ant nearby struggled to store up large kernels of food and build a secure nest. The Ant pulled overtime shifts to pay off his loans and accumulate retirement funds for the future.

“Give it a rest,” the Grasshopper said. “Why bother saving and slaving and toiling and moiling? Let’s party!” The Ant demurred: “I am planning ahead for winter and you should do the same.” The Grasshopper blew off the Ant, squandered his supplies the rest of the season, and abandoned his home while on vacation (paid for by tapping every last cent of his home equity gain) instead of holding down a job.

When winter came, the Grasshopper’s pantry was empty and his shelter ruined from neglect. The Ant, weary from planting, harvesting, and stocking up for months, was dining comfortably in his nest.

Cold, hungry, jobless, facing foreclosure, and up to his two pairs of eyeballs in debt, the Grasshopper limped to the Association of Community Winged Insects for Rescue Now and demanded recourse. The office was swamped with thousands just like him. ACWIRN immediately put the Grasshopper to work registering dead ants as new voters.

Funded with tax dollars from the rest of the meadow’s residents, ACWIRN organized mass protests at the Bank of Antamerica, ambushed its top officials at their private homes, harassed their children, and demanded that the meadow’s politicians halt all foreclosures (”We must keep Grasshoppers in their houses!”) and outlaw discriminatory lending practices against starving, homeless Grasshoppers (”Well-stocked shelters are basic insect rights!”)

The banking industry capitulated; the Orthoptera Lobby secured hundreds of millions of dollars in housing earmarks and grants and counseling subsidies to support the Grasshoppers with the shadiest credit and employment histories. Antie Mae, the meadow’s government-backed home lending giant, fueled the push for increased insect homeownership in the name of biodiversity. Its executives cooked the books and headed for the hills. Katie Cricket and the Mainstream Meadow Media joined the grievance-for-profit circus, profiling Grasshopper sob stories and drumming up ratings as bewildered Ants wondered who was looking out for them.

The banks drowned in toxic debt. More Grasshoppers fell behind on their mortgage payments. Bailout mania and panic gripped the meadow.

Our little Ant, minding his own business, heard a knock on his door one late winter night a year later. It was his old, sneering Grasshopper neighbor. With ACWIRN’s presidential candidate, Barack Cicada, now in office, the Grasshopper had been hired by the meadow as a tax collector.

“I’m here to take your provisions,” the Grasshopper cackled.

But it was the Ant who had the last laugh. “I’ve learned my lesson,” he told his shiftless friend. “Why bother saving and slaving and toiling and moiling? I’ve spent all my savings. I’m walking away from my mortgage. Thrift is for suckers,” the Ant said as he headed out the door, leaving the Grasshopper empty-handed.

Michelle Malkin NAILED it with this one, I know some of my friends don’t particularly care for her but on this occasion she hit a homer.

This bailout is a direct result of the do nothing congress we put in office in 06, it is a direct result of the DEMORAT “Affordable housing initiatives” the “Taco Bell Loans” and the lack of oversights due to being called “Elitists” IF you voted against any of the Demorat led “Give me’s” you were branded with a “racist” or “Elitist”  or the ever present “Big Business lover”

There is a reason we are in this mess and it has it’s origins in the Clinton era, but it gained steam with the DEMORAT Do nothing congress of 2006….The worst LEADERSHIP the world has ever seen has been brought to you by the Education system of the USA.