This will go down in my personal history books as the year I do not want to repeat. I get sick of turning on the news, or reading business news on the internet and learning of historic failures of banks, companies and yes bailouts. What bothers me most is the piece meal bailouts. This bank is too big to fail so we must buy them out. My fear? Cronyism. Maybe one bank gets bailed out because they play political favors with politicians and another doesn't. Sort of like Countrywide Mortgage. No indictments, no investigations. That bothers me a lot. Yesterday's big news was about sports figures lying to Congress on steroid abuse. WTF??? Congress has been lying to the public for years on steroids and no indictments there! But seriously...why no investigations into all the fraud? All you do is spend more money on a lot of our taxpayers' money to gain more political favors. You do noting to bring jobs back, nothing to close our borders. Our elected representatives want this buried too quickly, and no questions asked.
So here are my ten questions:
- What is next that you have not told us about and what will that cost?
- Are you expecting us to go on the hook, and then raise our taxes?
- Are you going to conduct any investigations into losses and fraud?
- Will you disclose your personal finances and your families so we can see where the bribe monies go?
- What is the next failure in line? What will that cost?
- Will you agree to line item vetos to cut the fat and do your part?
- Will you agree to cut current pork projects in your state?
- Will you agree to real campaign reform- and term limits?
- Will you stop lying to those that elected you?
- Will you put America first?
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Roger Clements didn't send his Lobbyist.
Franklin Raines did.
Roger Clements didn't send his Lobbyist to Capitol Hill with a bag full of money.
Franklin Raines did.
Lenn Harley, Homefinders.com, MD & VA Real Estate That's right! He didn't bribe them! It is funny how they can go after martha Stewart, and Roger CVlements and neglect to go after the guys at Fannie Mae and Freddie Mac, no indictments at Countrywide, no one questioning Obama, Dodd and otehrs for lobbiest monies from Fannie Mae and Freddie Mac...notice the patterns? I have!
Jim - I would like the answers to your ten questions as well. I don't think we'll get them though do you?
I also would like the answers to these questions;
When will the current administration admit it falsified reports of WMD?
When will the American people demand more of their politicians than lies and lip service?
I love the idea of getting the answers to our questions. Unfortunately I think we are dreaming if we think the politicians will answer them honestly....
We can't even get Sarah Palin to talk to the press. How can we expect to get answers. I think I am ready to be VP of our country. After all I am a Baseball Mom and wear glasses....In fact I have been told tooooo many times I look like her. I am cutting my hair and getting contacts this week-end.lol......Happy Friday to all.........
Lori Isaacson
tell me about it, if we the people can figure out a better solution then why are thesse big wigs not able to come up with a real solution that benefits everyone and not just themselves and one that actually MAKES SENSE ?
Lori - I can see the stars and moon from my house, am I qualified to run N.A.S.A? lol
The biggest problem is nobody in Washington will answer those questions. They want to do what they want without consequences (to them).
Hey John....you have my vote!!!!
John Guiney e-PRO, CBR (Keller Williams Realty) I agree. So much for open government. Ask these questions to your elected representatives, I have. I put them on notice. My Congressman Tom Price has been the best!
Lori Isaacson (Credit Restoration Consultants) We need to ask those questions, it is about accountability.
David Slavin, ABR, SRES RE/MAX Grand, Katy, TX (RE/MAX Grand) as long as the media is biased no real questions will be asked.
Aloha Jim,
How did a conservative republican administration suddenly embrace socialism over night, easy it has nothing to do with economic philosophy and everything to do with our fractional reserve banking system that thrives off Americas debt. Your debt, my debt, every tax payers debt. Without debt there is no money. Without borrowers signing on the dotted line promising to pay x amount of money, there is no money supply to circulate, once defaults occur all that money that was promised to be repaid, bundled and sold on the secondary for cash, poof disappears. The more you write off the more money disappears. The less money that is loaned out means money isn't making money anymore.
Why do we have a fractional reserve banking system to begin with?
Why do we allow banks to basically make money from nothing?
Why base money on debt at all?
How can a system that requires exponential growth to function, function with out a stable supply of renewable resources?
Was Iraq really just about the oil?
Jim, what I find interesting along with everything you mentioned is this "rush" for a $700 billion bailout. You think with that much money it would take months to iron out a respectable deal. Maybe we have hired incompetents for representatives.
Kimo Stowell (Home Staging & Interiors JDS Consulting) First of all Paulson who propsoed this is not an and elected representative of the people. He was chosen for his supposed knowkeldge and ability. His life long affiliation is not republican. I just heard about this recently, and I was shuprised. He is a life long democrat that has a different view of how things are to be done. So I assume his approach will be different also. I don't agree with the solution. It is an election year fix!
Gary Woltal - REALTOR® Dallas Ft. Worth (Keller Williams Realty) It is a big rush and no one want to give any real details! That is what bothers me most. I don't think they are incompetents, I think they are self serving.
Aloha Jim,
It's all smoke and mirrors. The Fed is above politics, Bankers will make money hand over fist whether a republican or democrat is in office. It's all about the Banks and keeping them deregulated and keeping the fractional reserve system operable. Do you really think Bush would have appointed Poulson if he had a fundamental concern about his party affiliation? What do the politicians know on both sides of the aisle that they're not telling their constituency? That democracy is a complete sham in this country.
"Whoever controls the volume of money in our country is absolute master of all industry and when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate." James A. Garfield President of the United States
Jim - these guys (and gals) on the Hill are not looking out for America or American interests. They are looking out for their own. We should all be demanding the appointment of several special investigators to look into the fraud that occurred and prosecuting those responsible to the fullest extent of the law. Instead, they'll simply approve a bailout that will reward the Wall Street barons for their ineptitude and thievery and put the American people on the hook for the expense.
Kimo Stowell (Home Staging & Interiors JDS Consulting) Washington is not above politics on any level. Live in DC for a while. Deal with congress and then tell me what you see. I've sat in on many congressional meetings, and committee hearings. So why the blank check? Why the rush to sign? Why no questions asked? If it is above politics why the meeting with Democrats only yesterday? Where is the transparency? Reality? Politics is very different than idealism. This isn't a democracy, it never has been. The United States is a Republic. Fundamentally they are run very different.
Fairbanks Real Estate Broker Jesse Clifton (Jesse & Kathy Clifton, REALTORS - 907.699.6024 - )In the 1880's it was the "Robber Barons!" It is no different today. Political corruption, bribes are now called "Lobbyist money!" We need to clean out all the trash and replace them with individuals that care about America! We need investigations, indictments, convictions at every level.
The democrats have enough votes to pass this bill themselves. They just want the Republicans in case it fails to blame them.
Aloha Jim,
I'm not saying that the politicians are above politics. Politics is what they do it's their livelihood. And I'm also not saying that politicians won't politicize the issue. What I am saying is the FED IS CALLING THE SHOTS not congress. Show me one politician who is saying absolutely no to some form of bail out. Congress appearing to be squabbling over the fine points is a typical distraction technique to make you think they are actually 'working out a plan'. It's already been decided, not by any vote, that the bail out will in fact happen. Why? where are the schematics, the reasoning behind it, You and I agree this issue is being steamrolled past the American people, with no transparency and no over-site.
PS I have lived in DC. I have seen first hand how deals are made and the influence pedaling, and the money grabbing, and how absolute power corrupts absolutely. I have also seen bipartisan agreement in the fleecing of America and how politics is irrelevant when individuals have the power to control money supply.
"Give me the power to issue a nation's money, then I do not care who makes the law." Anselm Rothschild
"Banking establishments are more dangerous than standing armies." Thomas Jefferson
"History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance." James Madison
But if we don't hurry up and pass this thing pronto, our economy will collapse!
Right???? FEAR! The biggest motivator.
John Walters (Specialized Real Estate) Let them pass it by themselves. The Republicans should do what Obams does...vote "Present!" It works for him. Everyone apparently loved a person who will not commit to anything.
Kimo Stowell (Home Staging & Interiors JDS Consulting) The only reason behind this is greed! Have you read my previous posts? I have 5 or 6 videos of Bernake, and Paulson saying just a few weeks ago under oath to Congress there was only a slight chance of recession, slim chance, remote. What happened in a week? Obviously there was no oversight anywhere. Lots of money, loads of revenue and no one in Government doing their job.
We have loads of agencies in the Federal Government that could have done something - Treasury Dept, SEC, OTS, FDIC, FBI, bank regulators, Congressional committees, ethics, laws on the books...and no one doing anything. Typical government. Just throw up a camera and a mike and they all want to stand in front of them with a press conference that does nothing!
Now we are like Atlanta and gasoline. They want a refill and we are out of gas!
A year ago I blogged about Katrina...that the nations turn would come to grips with our own financial storm, and we could expect no better treatment than the folks in Louisiana and Mississippi. Was I wrong? Now its our turn. Do not expect them to fix anything no matter how much money is thrown at it.
Erica Ramus - Realty Executives Schuylkill - 570.622.6006 Will you sleep better if they pass it. That is your choice. If something comes up next week, what then? What about the week after? Next month? The day after election? Fear is a powerful tool. It takes over without a fight.
Yes, agreed. I've had a lot of sleepless nights lately. Or mornings-- I wake up at 4 or 5 am and cannot get back to sleep. Too much to think about/worry about. I get a jump start on the day and I'm working harder and harder. None of us are sleeping well in this business, I guess. The bailout won't help.
Yes, agreed. I've had a lot of sleepless nights lately. Or mornings-- I wake up at 4 or 5 am and cannot get back to sleep. Too much to think about/worry about. I get a jump start on the day and I'm working harder and harder. None of us are sleeping well in this business, I guess. The bailout won't help.
Pillage, Loot, Plunder, Rape, Lie, Always thought this was a description of a Pirate but Websters needs to change their definition and rewrite under Politician. Now these crooks want to come up with a believable workable plan in one week. We're screwed!!!!
Aloha Jim,
Thanks for keeping this topic alive, poked and prodded! Is it me or are the fast majority of Americans asleep?
Jim - Seriously... I think everyone on Capitol Hill must be on drugs. We were watching Roger testify while the real criminals run our financial institutions. We need to wake up and see what is really going on in this country... Barry Bonds and steroids, I don't give a rat's... guys who walk away with millions while the average joe losses his life savings... now there is a crime.
So, have any of you realtors experienced a surge of first time buyers due to the recently new $7,500 tax credit? Just another washington gimmick?
Congress should live with the same conditions as typical Americans:
No special pension, use social security. No special healthcare, buy a policy in the public market. No free pass for bad behavior "because you were on the way to an official meeting". No Gifts/meals from anyone, period. IRS should audit their tax returns each year. Like personal and state budgets, the federal budget should be balanced or let them make up the difference by selling their assets! I don't care the Bill cheated on his wife, but I care he wasn't fired for doing it on company time!
Until these changes are made they will all continue to become corrupted by power and greed. We probably would need them to wear a live video camera broadcasting 24/7 so someone will always be watching them to keep them honest!
Jim - You pose all good questions and I wish that people who are supposed to be representing us would truly look out for OUR best interests.
Jim,
Thanks for the post. The whole process has been very exhausting. However, we must stay the course and provide for oversight of those making decisions on our behalf.
Erica Ramus - Realty Executives Schuylkill - 570.622.6006 Erica, I try and remain open minded. They need to provide details. What specific even has happened what will happen etc. Item 2, what are they going to do? No oversight, no investigations, no jail terms...etc? They have not proved trustworthy to account for $100 let alone 700 Billion. Get some rest, it is making all of us restless irritable and discontent.
Cameron Wilson: Murrieta/Temecula/ Menifee California Real Estate (Century 21 Tri Valley Realty) Hey, it isn't that hard! Here is an analogy for the dollars.
I want a CMA for every household in New York City By Sunday Nigth!
Kimo Stowell (Home Staging & Interiors JDS Consulting) Kimo, we are all in this together. I feel for every person in this nation, and our future generations. I just hope these person have not screwed things up so bad it cannot be fixed. Be well! Thanks for the passion...it is as American as Apple Pie.
Interesting comments have been made that Congressmen Frank, who is the head of the banking committee had encouraged Fannie and Freddie to do loans to marginal people and give everyone a mortgage.
This is not the first time I heard this, I had heard this a few years back.
Richard
Debbie Summers (RE/MAX Central - Lake Mary, FL) I agree. They have their priorites all wrong in DC. Let start following the money, the bribes, the pork barrel politics, lobbyist monies, the lack of supervson. Government keeps growning and less is getting done.
Jim
You are very insightful on this one. These times are becoming so stessful that I have to pinch myself accasionally to make sure I am not dreaming.
Phil No surge in first time homebuyers with he last plan! Interest rated moved up today almost a half point. It is business as usual in DC.
Sam Miller (RE/MAX Stars Realty We just need to prod them to...
DO THE RIGHT THING!
William Collins, Broker Associate (ERA Queen City Realty) It is totally draining.
Richard Stabile Bergen County New Homes Builder Realtor (REMAX real estate associates) Congressman Frank? It probably just slipped his mind that this is what caused most of the crap we are going through! How does a guy like this get elected?
Trey Thurmond, College Station , Texas Homes (Classic Realty Inc./GMAC Real Estate) I just moved one set of accounts and I know I have others that may be at risk. My stomach is in knots.
Do the right thing? Why is that so hard??
Government isn't the only group who has a problem with this!
Many agents also cannot seem to tell the difference between right/wrong.
Erica Ramus - Realty Executives Schuylkill - 570.622.6006 I totally agree with you. I think the devil got out of the box somewhere. Society has changed and become very materialistic, and self centered.
I agree with that last comment, Jim, 100%.
Boy I sound jaded this week.
Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) Erica, it isn't you. We are all like this. I have never seen anything like this. It is depressing. My family comes from an old line of fishermen and sea captains...this is all about having the courage to stay on the right course in a very bad storm. It takes a lot of nerve to do so. We are just helpless looking on. I pray for this nation and our leaders. I also pray for all my real estate friends. We are in for some tough times. There is a lot of things taking place at once.
Yes. I'm in the middle of reading Keller's new book SHIFT. It's all about how to survive the changing real estate market. I know things are cyclical. Spring/summer/fall/winter/... we go through the ups and downs every year. And it's cyclical on a long time frame too... and we're in the middle of a big slump. I'm staying positive on the outside, but inside I'm just praying for it to turn around. Going to a Realty Executives regional meeting this week, a Broker/Owner conference. I'll have 5 hours each way in the car to listen to tapes and think. Cutting expenses left & right, and let 3 people go this month. I'll survive. But I'm still worried.
On another note, I'm redoing my stationery and webpage. I love your "Greater service. Greater results" tag line. If you don't mind, I'd like to incorporate that tag line into my own marketing. Do you object?
Erica Ramus - Realty Executives Schuylkill - 570.622.6006 That tag is not mind, it is my broker's, and it is copyrighted as a company slogan.
No problem! Thanks...