Disqus - Latest Comments for tomtomiowa

Re: Obama, other Senators ask Attorney General to weigh in on foreclosure list controversy

Rayne1 — Wed, 17 Sep 2008 09:25:17 -0000

The timing of this current wave of nationalization-as-bailouts could have been anticipated for years now; you can thank Phil Gramm, senior adviser to the McCain campaign since he was a key proponent for keeping Credit Default Swaps unregulated.

Frankly, this is all of a piece:

--tax and monetary policy creates ridiculously cheap money to keep economy afloat during Bush's first term, but after the Bush tax cuts have worn out their ability to prop up the economy;

--cheap money increases speculation in housing;

--predatory lenders made loans with the cheap money to people who did not have an adequate level of collateralization for traditional loans;

--these lenders resold these loans which in turn were bundled as CDO's

--investment banks like Bear Stears (RIP) and Lehman Brothers (now bankrupt) purchased the CDO's as part of their portfolio;

-- credit market tightens for many reasons, including the demand for money due to the Iraq War
-- speculators drive up the price of commodities, which in turn force borrowers to default on loans and make credit market even worse;

-- foreclosures increase and property values fall, forcing lenders at all points of the credit spectrum to have fire sales to raise cash to cover obligations;

-- investment banks can't sell assets fast enough as they have the least amount of actual collateral;

-- the guarantors of mortgages (Fannie Mae, Freddie Mac) find themselves upside down when too many loans go bad;

-- the insurer of mortgages (AIG) can't sell assets fast enough to raise cash to cover obligations either;

-- and the U.S. Government has little remaining options in its arsenal save for nationalizing these failing entities since choosing not to do so would crash the market globally, and the rich guys that own Congress and the White House wouldn't like that at all.

And this all goes back to the propping up of the economy during Bush's first term, likely coincident with the market slide post-9/11

Who was in office? What party held the majority in Congress? Which party has benefited the most from this propped up economy?

Phil Gramm may have been nominally correct when he said the problem with the economy is all in our heads -- if more Americans were actually literate about the economy, they would realize that this week's frenzied nationalization was set in motion more than 6 years ago.

And it's got nothing to do with lipstick and everything to do with demanding better governance and a better grade of politician and more analysis on the part of the American people instead of shallow talking points on earmarks.

Re: Obama, other Senators ask Attorney General to weigh in on foreclosure list controversy

libdem4 — Wed, 17 Sep 2008 08:24:27 -0000

...and why do we need a bailout ? Oh right - due to deregulation - a favorite campaign rallying call for the GOP (including McSame !)........thank you, republicans for wasting more of my tax dollars - oh and also for that great record deficit !!

Re: Obama, other Senators ask Attorney General to weigh in on foreclosure list controversy

tomtomiowa — Wed, 17 Sep 2008 08:15:48 -0000

wow is this not the same thing obama did in the south side of chicago to squeeze by the incumbent to waltz in the ILL. senate? therefore only having his name on the ballot?

at least Sara was voted in ALL of her Race's both mayor and gov. and she did it with more than her name on the ballot ,they had a choice

obama challenged votors and wound up the only one that was on the ballot? making him the only one to vote for ?

I think the democrats really want biden or dodd for president ,look at who gave who money in the primarys, obama will not really become pres or just for a short time and then the vp will take over?

go to www.opensecrets.org and take a look at sen. harkin's pac fund, he gave cash to biden and dodd for pres, that is why clinton was not picked for vp, as with the amish the clintons have been shunned.

when congress went on vacation there was no banking trouble but once they returned BINGO?

its like a movie script they are following?

whats better than an EARMARK...........A BAILOUT?

what do you get when you put LIPSTICK on an EARMARK? .............A BAILOUT

Re: Obama announces plan to jump-start Great Lakes restoration

Eric Ferguson — Wed, 17 Sep 2008 01:32:29 -0000

tomtomiowa, even if all the question marks weren't a dead giveaway that your comments were cut and pasted, the mishmash of statements unrelated to the topic of the article (or to each other) would indicate you're just pasting this in a bunch of places. Could you at least bother to get informed instead of posting pure nonsense?

Re: Lose your house, lose your vote

Rayne1 — Wed, 17 Sep 2008 01:21:25 -0000

You need to to do a little homework, brush up on your Michigan history. Jennifer Granholm took office while saddled with $2 BILLION in budget deficits left behind by the Engler administration; Engler had managed in his 3 terms in office to take a budget surplus and piss it away, instead of putting it in the bank for the days ahead when the automotive industry wasn't doing well.

Since Granholm first took office, the automotive industry has continued to flounder, unable to compete with offshore competitors due to rapidly rising health care costs and commodity costs. Since the state remained locked in a macabre death spiral with the auto industry, and since it was unable to afford to build a way out, the deficits have continued to thwart any chance for improvement in Michigan's economic climate.

The deficit represents debts that the people of the state of Michigan incurred; they have to pay them down. There's no way around it. You may see this as increased taxes, but paying down debts worked under the Clinton administration when it was saddled with Reagan/Bush deficits.

Just as one can obtain better credit ratings by paying all debts on time and on schedule, so can Michigan improve its situation if it takes care of obligations. Michiganders need to stop listening to shallow hucksters like Engler who promise to "give them back their money" when in truth he meant he wasn't going to pay the bills, and the tab would eventually come due.

Lastly, comparing Ohio to Michigan is rather ineffective if Ohio's business hasn't been as tightly invested in a single industry which collapsed as the automotive industry has in Michigan. Strickland's lucky he hasn't had to deal with that level of challenge.

Re: Obama announces plan to jump-start Great Lakes restoration

tomtomiowa — Tue, 16 Sep 2008 20:29:53 -0000

Obama announces plan to jump-start Great Lakes restoration

“the 5 billion dollar tax”

The Obama-Biden Great Lakes Restoration Plan calls for $5 billion .

Obama also calls for the creation of a Great Lakes czar to oversee funding ,let me guess the former gov. when she is voted out?

This seems to be the wrong way to go? why did people in iowa have to pay for the bridge that minnesota did not fix? A $600,000 million ballpark was more important? This should be a state fund and the people of the great lakes pay for? Heck will you guys build a $250,000 million bridge here in iowa? Hey Debbie you make $500.00 per day 365 day a year just like all the men in the senate? tell your residents Iowa needs 250,000 for a bridge? I got it lets ask sen Landreiu’s home state if they have any extra $ heck everyone gives money to her? Harkin ,durbin ,obama ,reed ,all did ,did you?

why does obama throw more money to solve problems ? a new stimulis will add huge to the deficet,why did he EARMARK $1 BILLION to his home state? why has he and others take money from freddie mac? why does his vp pick biden use money from his pac fund to pay his $50,000 amtrak transportation to and from washington? this needs to be counted as income and not some pac fund? why are they still collecting $500.00 per day while not working for there home state? these pac funds hold $100’s of MILLIONS of dollars and it is not taxed as income this loophole needs to shut down ,this would raise millions in taxes,this is income just like the watress’s tips are taxed ,look up your senator at http://www.opensecrets.org see if they have a pac fund? who gives to it and who the pac fund gives money too?

and to think biden said if a woman stands behind the president it is a step backward for women? I sure don’t want this guy a heartbeat from the presidency?

ya washington is broke ,I know how to fix it? obama wants higher teacher pay HUH? well will this idea work for washington? more pay?

gee if obama gets in it will be more monney for all kinds? senate makes $500.00 per day 365 days a year and ya don’t even need to be there to collect it? you can run for another job and still get the money?

wasn’t it the democrats that wanted people making $100,000 get a 300 stimulis check that our grandkids will end up paying for? wonder how much of obamas plans our grandkids will end up paying?

Re: Live from the Obama rally in Pueblo

tomtomiowa — Tue, 16 Sep 2008 20:18:10 -0000

This seems to be the wrong way to go? why did people in iowa have to pay for the bridge that minnesota did not fix? A $600,000 million ballpark was more important? This should be a state fund and the people of the great lakes pay for? Heck will you guys build a $250,000 million bridge here in iowa? Hey Debbie you make $500.00 per day 365 day a year just like all the men in the senate? tell your residents Iowa needs 250,000 for a bridge? I got it lets ask sen Landreiu's home state if they have any extra $ heck everyone gives money to her? Harkin ,durbin ,obama ,reed ,all did ,did you?

why does obama throw more money to solve problems ? a new stimulis will add huge to the deficet,why did he EARMARK $1 BILLION to his home state? why has he and others take money from freddie mac? why does his vp pick biden use money from his pac fund to pay his $50,000 amtrak transportation to and from washington? this needs to be counted as income and not some pac fund? why are they still collecting $500.00 per day while not working for there home state? these pac funds hold $100's of MILLIONS of dollars and it is not taxed as income this loophole needs to shut down ,this would raise millions in taxes,this is income just like the watress's tips are taxed ,look up your senator at www.opensecrets.org see if they have a pac fund? who gives to it and who the pac fund gives money too?

and to think biden said if a woman stands behind the president it is a step backward for women? I sure don't want this guy a heartbeat from the presidency?

ya washington is broke ,I know how to fix it? obama wants higher teacher pay HUH? well will this idea work for washington? more pay?

gee if obama gets in it will be more monney for all kinds? senate makes $500.00 per day 365 days a year and ya don't even need to be there to collect it? you can run for another job and still get the money?

wasn't it the democrats that wanted people making $100,000 get a 300 stimulis check that our grandkids will end up paying for? wonder how much of obamas plans our grandkids will end up paying?

seems THE AMERICANS know that they get more BANG FOR THE BUCK when they send money to there home state, they get more done,and twice as much in return for there money,

When people have to send money to congress they know it gets miss-spent and abused and nothing gets done, obama I dont think GETS IT ?

has obama taken a pay cut? lets ask him ,he will like it ,lets see if he will take a pay-cut ,Mikey likes it

Re: Live from the Obama rally in Pueblo

tomtomiowa — Tue, 16 Sep 2008 20:17:10 -0000

I thought this was good?
Bill Clinton would undertsnad the issue in Michigan, “Its the economy stupid”. Michigan’s economic problems begin with the Democratic Michigan Governor. Over the last 6 years Governor Granholm’s “Big Government” & “Tax and Spend” polices have destroyed Michigan’s economy. Granholm and Obama are tied at the hip. Their Campaign Promises concerning Taxes are identical. Ask Michigan’s residents about taxes Granholm has proved that Obama’s Policies are wrong for America.

Contrast Michigan with Ohio. The Democratic Governor of Ohio, Ted Strickland has pursued policies to reduce the tax burden and shrink the size of Government. Governor Strickland, and the Ohio Legislature, have taken action to reduce Individual and Business Taxes.

Ohio is on the road to recovery while Michigan continues in a downward spiral.

The election isn’t about Parties - It is about Policies.

http://mcauleysworld.wordpress.com/2008/09/08/m...

http://mcauleysworld.wordpress.com/2008/09/08/o...

Re: Lose your house, lose your vote

tomtomiowa — Tue, 16 Sep 2008 20:03:30 -0000

Re: Grand Junction GOP women urge Oprah boycott

Jimmy — Tue, 16 Sep 2008 19:41:17 -0000

Sorry, I was watching Oprah. What was your point?

Re: Obama’s Colorado speech: Golden moments and lumps of coal

tomtomiowa — Tue, 16 Sep 2008 19:33:17 -0000

Re: Obama announces plan to jump-start Great Lakes restoration

tomtomiowa — Tue, 16 Sep 2008 19:14:16 -0000

Re: Michigan sister site’s voter suppression story sparks Obama lawsuit

tomtomiowa — Tue, 16 Sep 2008 18:56:39 -0000

this is sorta funny because this is what obama did in chicago? he was not voted in by the people ,he dissallowed his tactics just like this that he challenged peoples signatures of his opponets wich left him the only one one the ballot

At least Sara was voted in with 73% of the people voting for her!

Re: Braley takes aim at federal child labor penalties

tomtomiowa — Tue, 16 Sep 2008 18:50:32 -0000

seem the Iowa congress and gov should also be held for something? they had a bill for punishing companies that do this kind of hiring and did nothing,nada,zilch,the big 0 ,because they took money from them , they are also to blame?

sorta like when minnesota decided to build a $600 million ball park INSTEAD of fixing there sub-standard road bridges ,why does all america have to build it now with the $250,000 million the president sent them?

states need to be more accountable and hold them personally accountable ? look at what the touch play games cost us?

Re: Grand Junction GOP women urge Oprah boycott

tomtomiowa — Tue, 16 Sep 2008 18:39:20 -0000

why does obama throw more money to solve problems ? a new stimulis will add huge to the deficet,why did he EARMARK $1 BILLION to his home state? why has he and others take money from freddie mac? why does his vp pick biden use money from his pac fund to pay his $50,000 amtrak transportation to and from washington? this needs to be counted as income and not some pac fund? why are they still collecting $500.00 per day while not working for there home state? these pac funds hold $100's of MILLIONS of dollars and it is not taxed as income this loophole needs to shut down ,this would raise millions in taxes,this is income just like the watress's tips are taxed ,look up your senator at www.opensecrets.org see if they have a pac fund? who gives to it and who the pac fund gives money too?

and to think biden said if a woman stands behind the president it is a step backward for women? I sure don't want this guy a heartbeat from the presidency?

ya washington is broke ,I know how to fix it? obama wants higher teacher pay HUH? well will this idea work for washington? more pay?

gee if obama gets in it will be more monney for all kinds? senate makes $500.00 per day 365 days a year and ya don't even need to be there to collect it? you can run for another job and still get the money?

wasn't it the democrats that wanted people making $100,000 get a 300 stimulis check that our grandkids will end up paying for? wonder how much of obamas plans our grandkids will end up paying?

Re: Obama keeps slight edge in Colorado, Palin effect mixed

tomtomiowa — Tue, 16 Sep 2008 18:38:20 -0000

Re: Obama should maximize exposure, diffuse Palin-mania

tomtomiowa — Tue, 16 Sep 2008 18:37:48 -0000