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Open Your Wallets America, Fannie Mae Needs Another Bailout

May 10, 2011
Fannie Mae and Freddie Mac

Artwork by Robert Reich

 

     On Friday, May 6th, Fannie Mae asked Uncle Sam for an additional $8.5 billion in aid to help cover their first quarter losses, which amount to $8.7 billion.  They attribute these losses to risky mortgages they purchased between 2005 and 2008, in other words, bad business practices.  “We expect our credit-related losses to remain elevated in 2011 as we continue to be negatively impacted by the prolonged decline in home prices,” President and CEO Michael Williams said in a statement.  Home prices declined 1.8 percent, on average, in the United States during the first quarter of this year.  This decline led to more foreclosures and homeowners abandoning properties that were worth less than they owed on their mortgages.

      The bailout of Fannie Mae is this most expensive bailout of a single company in U.S. history, nearing $100 billion.  Along with the bailout of its sibling company Freddie Mac, the government expects the entire rescue to cost taxpayers about $259 billion.  Who are Fannie Mae and Freddie Mac?  Their names sound like a sweet old couple puttering around our neighborhoods helping everybody out, their helping everybody out alright, helping everybody out of their money.  In reality, they are nothing more than an investment company that buys home loans from banks and other lenders, packages them into bonds with a guarantee against default and sell them to other investors around the world (just a nice way to say selling our property to other countries).

      When property values drop like in the first quarter of this year or homeowners default, either by foreclosure or abandonment, because of the no default guarantees, Fannie and Freddie must pay their investors for the losses.  Because of buying risky mortgages, their no default guarantee, and the government bailout, the American people are now paying for their losses.  Wouldn’t it be nice to know that you could start a business and if it began to lose money, someone else would pay your bills?  I don’t remember the government asking me permission to use my money to bailout anyone, I don’t remember it being on any politician’s agenda when he ran for office, so how did I get stuck with the bill?  The same way we get stuck with most things we don’t want or need to pay for.

      Why is the government so interested in bailing out these two companies?  Because of their size, together Fannie and Freddie own or guarantee about half of all mortgages in the U.S., nearly 31 million home loans worth more than $5 trillion.  Along with other federal agencies, they backed nearly 90 percent of all new mortgages over the past year. Ninety percent, that’s hitting pretty close to a monopoly, which the government is suppose to be dead against; remember they broke up Bell Telephone and recently drug Microsoft before congress.  Then again, I guess it’s useless to drag yourself before yourself, meaning that since Fannie and Freddie are now government controlled, the government would be placing itself before congress.  It is a little ironic that a company accused of mismanagement is now controlled by another entity that is infamous for mismanagement.   

             It’s kind of confusing, all I know for sure is that I’m sick and tired of seeing my tax dollars go to major corporations to bail them out simply because they mismanaged things in the first place.  Especially when they use that bail out money to award their corporate officers outrageous bonuses.  This is what it boils down to, if you have a mortgage and are paying taxes, you are actually paying for two houses, but in the end, you are only going to own one.

             Of course, let’s be fair, Fannie and Freddie are suppose to pay that bail out money back with interest.  If and when they do, I don’t believe that Uncle Sam is going to send the American taxpayers their share of that collected interest on our money along with a thank you note.

             If you are tired of seeing our tax dollars being used to pad the pockets of major corporations, let someone know how you feel.  On the contact page of this blog are the names, addresses, and website links to President Obama and the Senators from every state; use them.  Also, this is a blog site, it’s meant for you to comment about what I wrote so that we may share ideas.  Whether you agree with me or not, let me know.

For The Mothers of The American Soldier

May 8, 2011

Roses for Momma

Mother’s Day – In honor of Mother’s Day, I thought it fitting to pay a tribute to our dear mothers instead of griping about politics, terrorism, or the way of the world.  These marvelous women, who carried us through pregnancy, suffered through labor, and nurtured us through childhood, deserve to be honored every day not just on the second Sunday of May.  Mothers are special people who made a decision to give up the lives, bodies, and sometimes their minds, just so they could bring other lives into the world.  Nothing can compare to the look of joy on a mother’s face as she gazes upon her newborn child for the first time.

            In 1870, Julia Ward Howe wrote “Mother’s Day Proclamation”, which was an early call for a Mother’s Day celebration.  The Proclamation was tied to her feminist belief that women had a responsibility to shape their societies at the political level.  After this Proclamation, Ann Jarvis founded five Mother’s Day Work Clubs to improve health and sanitary conditions.  Two years after her death, her daughter Anna Jarvis began a campaign to make “Mother’s Day” a recognized holiday in the United States.  In 1912 she trademarked the phrases “second Sunday in May” and “Mother’s Day”.  She was specific about the location of the apostrophe; it was to be singular possessive, meaning that each family should honor their mother, not plural possessive commemorating all mothers in the world.  In 1914, Woodrow Wilson signed the law making the second Sunday in May, Mother’s Day, an official holiday in the United States.

            All mothers are special in their own right, but there is a special group of mothers that stand out, perhaps a little higher than the rest.  These are the mothers that give up their sons and daughters to the service of their country.  These mothers are so special that they are willing to lay the lives of their beloved children at God’s feet in sacrifice of their country.  Sometimes these sacrifices are not just for the rights and freedoms of Americans; sometimes it becomes necessary to protect the rights and freedom of people in other countries.  Why are they willing to risk the lives of their children for others; simply because it’s the right thing to do.  How strong these women must be to turn loose their child’s hand never knowing if they will hold it again.

            To the sons and daughters, on foreign soil so far from your mothers today, fighting and dying in servitude to your country, you have my undying gratitude.  To the mothers that have given their children to defend the ideals of this great nation, you have my appreciation.  Lastly, to the mothers that lost children in any conflict, yours is the ultimate sacrifice, and rest assured they will not be forgotten by the people of this nation.

            I would like to dedicate a poem to the mothers, who will never again celebrate the love of their child on Mother’s Day.

The mother of a soldier
— hats off to her, I say!
The mother of a soldier
who has gone to face the fray;
She gave him to her country
with a blessing on his head —
She found his name this morning

in the long list of the dead:
Killed – her only son,
while leading the rest,
A Bible in his pocket
and a portrait on his breast!

The mother of a soldier
— she gave him to her land;
She saw him on the transport
as he waved his sun-browned hand;
She kissed him through the teardrops
and she told him to be brave;
Her prayers went night and morning
with her boy upon the wave.

The mother of a soldier —
her comfort and her joy,
She gave her dearest treasure
when she gave her only boy;
She saw the banners waving,
she heard the people cheer;
She clasped her hands and bravely
looked away to hide a tear.

The mother of a soldier —
ah! Cheer the hero deed,
And cheer the brave who battle
‘neath the banner of their creed;
But don’t forget the mothers,
through all the lonely years
That fight the bravest battles
on the sunless field of tears.

Nay, don’t forget the mothers —
the mothers of our men,
Who see them go and never know
if they’ll ever come back again;
That give them to their country,
to battle and to die,
Because the bugles call them
and the starry banners fly.

The mother of a soldier —
hats off to her, I say!

Whose head is bowed in sorrow
with its tender locks of gray.
She gave without regretting,
though her old heart sorely bled
When she found his name this morning
in the long list of the dead:
Killed – her only son,
while leading the rest,
His dear old mother’s portrait
clasped upon his hero breast!

~by Folger McKinsey~

 

 

PS: To my mother, I LOVE YOU!

Uncle Sam’s Deep Pockets Unaffected by Pakistan’s Threats

May 5, 2011

 

American Money

 

     IMPORTANT MESSAGE FROM PAKISTAN TO THE UNITED STATES: “Stay the hell out of our country, but keep sending us American jobs and all that wonderful foreign aid”. Pakistan’s military gave us a stern warning today that they would not stand for another raid like the one that brought down Osama Bin Laden. They say that they are worried it would set a precedent for other countries to invade their sovereignty. They also wanted to minimize the American military presence in their country; that’s the 275 American soldiers that are training their military. Read more: Pakistan’s army warns US not to stage more raids. I’m not sure if that threat was meant to scare us; after all, we flew in and spent forty minutes killing Osama and collecting evidence before their army could travel a few hundred yards from their base to Osama’s compound. Then flew completely out of the country before they could get a jet off the ground.

     The search for Bin Laden has been going on for almost a decade. For six of those ten years he lived in Pakistan, in a one million dollar compound, in a middle class neighborhood. A compound with eighteen foot high walls, barbed wire at the top, no incoming telephone or internet wires, and no trash pick ups allowed. A compound just a few hundred yards from a military academy (their version of West Point) and a two-hour drive from their capital city. Even though supplied with information from our CIA and billions of dollars in foreign aid to fight terrorism, they had no idea that he was hiding there. Something smells a little fishy to me, it’s either their pack of lies or Bin Laden’s rotting corpse at the bottom of the ocean.

     The Obama administration has requested three billion dollars in foreign aid to Pakistan in the fiscal year 2012, along with $2.3 billion in funding to boost that nation’s counterterrorism capacity. That’s more than any other country in the world other than Afghanistan. This seems like a waste of American Taxpayer’s hard-earned money if you ask me. Pakistan has been receiving $1.3 billion annually in foreign aid from the United States for more than a decade. That’s not counting the billions of dollar that the American people have lost due to the outsourcing of their jobs, so corporations could make more profit. The only thing that this has bought us is more Anti-Americanism.

     Since World War II, the United States has been freely handing out taxpayer money in foreign aid to countries that don’t really appreciate it and have no intention of ever paying it back. In 1990, the United States government forgave 17.1 billion dollars in foreign aid debt. This money doesn’t just go to third world countries where people are starving, in 2004, the United States gave away over $39 billion to 150 different countries, and 38% of that went to the Middle East (money from the sale of oil wasn’t enough to fund all the terrorist activities). In the past, even Russia has been a recipient of taxpayer money, $1.41 billion in 1994.

     It is long past due that the American taxpayers demand a stop to their money going to countries that despise us. That money could be put to good use here at home, and I don’t mean to bail out banks or automotive manufacturers. It could be used to bail out the average American who is quickly sinking in the dismal abyss of our own economy. It could be used for schools, roads, and other projects, which would create jobs and reduce unemployment. It could be used as benefits for the long-term unemployed, who have now lost just about everything. Greed and wasteful spending by corporations and our own government is the major reasons behind our economic situation.

     Its time America, to get off your collective asses and demand a change from our elected politicians. And, if they can’t or won’t make the changes they promise, then let’s hold them accountable by not re-electing them.

 

Uncle Sam Carries the World

Uncle Sam Carries the World

     As a closing, I would like to leave you with something that is floating around Facebook, I don’t know it’s author, so I can’t cite it.

So Bin laden is standing before God waiting to hear his punishment, when God gets a tap on the shoulder. There behind him stand 343 firemen, 72 police officers, one K9 officer, 3,000 American citizens & over 5,000 soldiers. “Don’t worry God, we got this!!!”

  Have a different opinion, view, or just like my post……leave a comment!!

Terrorist Osama Bin Laden – “Another One Bites The Dust”

May 3, 2011

 

Osama Bin Laden

API File Photo - Bin Laden 1998

 

      I guess we have all heard the big news this week, terrorism takes a big hit (right in the forehead). The so-called “Sheik of Islam” gets to meet his beloved Allah. Before I pissed off too many people, let me say that I have nothing against the Muslim people. I believe that most are good, kind people, looking for the same answers and contentment in their religion as most Christian do. What I do have a problem with is the extremist, waving their religious book in one hand and using it as an excuse to kill with the other.

      At some point, all religions have used their God as an excuse to justify war and killing, Muslims, Christians, Catholics, and all the rest. But terrorist take this stupidity to new levels by killing innocent men, women, and children without warning or remorse. The terrorist, extremist, al-Qaeda, Taliban, or whatever they want to call themselves, are nothing more than cowards. They train in secret locations to become proficient with guns and explosives much like any other military. They lurk in the shadows and try to blend in with society, only to lash out and kill unarmed and innocent people. Then they are heralded as heroes by their fellow cowards. If they really want a war, Holy or otherwise, then form up and take on the enemy’s army, who are also trained and have guns. I bet we don’t see that happen.

      Do they really believe that they are winning their Jihad and are going to wipe out America though terrorism? Yeah, they kill a few of us each year and we have to tighten our security policies. The last time I checked though, our birthrate was many times greater than the death rate caused by terrorism. Do the math idiots, you’re losing ground. A society can not be taken over through terrorism alone. At the same time, we can not totally wipe out terrorism, we can weaken it and make it less efficient, but there have always been terrorist and there always will be, in one form or another.

     We may never be completely rid of terrorist, but one thing is for sure, there is one less in the world today. If terrorists would like to model themselves’ after real heroes, then they should look closely at the rescuers who unselfishly gave their lives on 9/11, the servicemen , many of them Muslim, that have given their lives in Iraq and Afghanistan, the members of SEAL Team Six that risked their lives taking down a criminal to human society, and Barack Obama, who risked a paper cut signing the order on Friday. There are a lot of people out there that are saying, “He was unarmed and they shot him anyway”; cry me a river, how many thousands of unarmed men, women, and children did Osama kill? His death was a lot better than he deserved.

      I don’t fully agree with our government’s decision to bury Osama at sea with a Muslim ritual burial, but I understand why they did. Many of his victim’s bodies were never found to give a good Christian burial. I think they should have done what they use to do in the Ol’ West; take him to Ground Zero, place him in an open wooden coffin, and stand it up with a sign around his neck, “THIS IS WHAT HAPPENS WHEN YOU TRY TO TERRORIZE AMERICA”.

      I guess that there wasn’t many options though, he sure shouldn’t have been buried in this country, and his own country didn’t want him when he was alive, so I’m sure they wouldn’t want him when he’s dead. Now that he is dead and buried, the only thing left to do is change his name; Osama bin Fishfood because as the Mafia used to say “Tonight he sleeps with the fishes”.

     Have a different opinion, view, or just like my post……leave a comment!!

 

The Dream Becomes A Nightmare

May 1, 2011

Our Founding Fathers

     “We the people, in order to form a more perfect union”, this is the beginning to one of the most famous documents ever written. A document that laid the ground work of our government and was intended to protect the freedoms of individuals from that same government. This document was written to establish a great nation like none before it. A nation that would be ran by its people, for its people, to the purpose of creating equality between its social classes. This was the dream of our founding fathers, a dream that was paid for with persecution and blood.

     Even though they are revered in history, our founding fathers were a representation of all social classes, from wealthy plantation owners to bar tenders. They were a mix of people from various backgrounds that chose to take a stand for what they felt was right and just. These were men with great foresight; they knew that a country, in which its people were the government, would be strong. These were men with no grand political aspirations, they were simple men who wanted to be treated fairly by their government and also wanted that same right to be extended to their fellow man.

     Somewhere along the line of this great nation, the dream has changed. I believe that it started with the “Industrial Revolution”, a time when simple business men evolved into monetary giants, with the power and financial backing to take control of the government. They began to use their newfound influence, power, and money to buy politicians that would pass laws and regulations that benefited their profit margins. The “Industrial Revolution” gave birth to the lobbyist, that represent the needs of corporations, not the general public. Webster’s New World Dictionary defines a lobbyist as “one who tries to get legislators to support certain measures”. These measures are in the interest of the corporations, not the American people.

     Somewhere along the line, the dreams of founding fathers have turned into a nightmare for “We the people”. The margins of the social classes grow farther apart, pushed by those that have, while those that have not, continue to suffer. Corporations grow richer, politicians grow richer while “We the people”, sink into debt and poverty to support their greed. Need proof? Google a news report for Exxon’s 1st quarter profits this year, 11.2 billion dollars, while gas prices are at $4.00 a gallon. Of course, corporations like Exxon have to make high profits, this money is needed to buy politicians with campaign contributions and sexual favors, and these things don’t come cheap.

     Greed knows no bounds, as American’s wallets started to run empty, corporations needed to look at other avenues to increase their profits. How do you increase profit when Americans are broke? Lower expenses, corporations paid politicians to pass fair trade agreements to increase their profits. American jobs were sold to other countries for profit, but let’s give it a nice name, let’s call it outsourcing so we don’t offend anyone. Call it what you like, plain and simple, Americans were robbed of their livelihood by greedy corporations and the elected representatives supported it.

     Our founding fathers fought to erase tyranny from this country and with all their foresight, I don’t think that they could have foreseen the day when their dream would turn into a nightmare for the people they were trying to protect. If Washington, Franklin, Jefferson, Henry, Adams, and Revere were alive today, the battle cry would be much different, “To Arms, To Arms, Corporate America Comes To Rob You Like A Thief In The Night”.

     I would like to leave you with this thought:  “If pro is the opposite of con, what is the opposite of progress?”