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Frank Lynch's Blog
About the Author
Begging College Students to Analyze the Issues and Not Merely Respond to Code Words. Our Nation Depends Upon You to Choose and Lead the Way to a Future that Obsolete Dinosaur Politicians Cannot Comprehend
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Notice the rush of the Big Three Auto companies' executives to collect the bailout from Congress in time for them to pay themselves hundreds of millions in bonus for Christmas!!
Barack Obama must require that none of the auto companies' executives receive any bonus this year.
Further, Barack must require that they all work for $1.00, One Dollar annual salary in 2009.
Anything else is a total rape not just of the taxpayers, but a rape of all America.
Barack Obama must require that none of the auto companies' executives receive any bonus this year.
Further, Barack must require that they all work for $1.00, One Dollar annual salary in 2009.
Anything else is a total rape not just of the taxpayers, but a rape of all America.
The plan, regardless of whose changes are applied to it, is still a short term reaction to a long term problem.
Fannie Mae and Freddie Mac must be liquidated. Government caused the problem. Throwing tax dollars down the toilet fixes othing.
This plan will destroy what is left of our economy.
We need a totally different long term plan to cure our totally messed up economy.
Fannie Mae and Freddie Mac must be liquidated. Government caused the problem. Throwing tax dollars down the toilet fixes othing.
This plan will destroy what is left of our economy.
We need a totally different long term plan to cure our totally messed up economy.
Mitsubishi UFJ Financial Group, Japan's largest bank, said on Monday it planned to take a stake of up to one-fifth in U.S. investment bank Morgan Stanley as part of a strategic alliance.
Mitsubishi UFJ Financial Group (MUFG) said in a statement on Monday it would buy 10-20 percent of the common stock of Morgan Stanley. It said it would decide on the amount it would pay after carrying out due diligence.
Buying 20 percent of Morgan Stanley would cost MUFG about $6 billion based on its total market value of $30 billion.
Morgan Stanley has chnaged into a commercial bank so that it is eligible for greater financial aid, ie more taxpayer bailouts from Paulson, and Japan wants part of the bailout.
Morgan Stanley has been under pressure to raise capital amid a sharp fall in its share price.
What international banking conspiracy?
Mitsubishi UFJ Financial Group (MUFG) said in a statement on Monday it would buy 10-20 percent of the common stock of Morgan Stanley. It said it would decide on the amount it would pay after carrying out due diligence.
Buying 20 percent of Morgan Stanley would cost MUFG about $6 billion based on its total market value of $30 billion.
Morgan Stanley has chnaged into a commercial bank so that it is eligible for greater financial aid, ie more taxpayer bailouts from Paulson, and Japan wants part of the bailout.
Morgan Stanley has been under pressure to raise capital amid a sharp fall in its share price.
What international banking conspiracy?
In the final destruction of all the wonderful laws passed by a thoughtful Congress and Franklin Delano Roosevelt to protect the American people from the excesses and corruption that caused the Great Depression, your totally incompetent governmenthas taken the final steps to maximize the corruption of our financial system. The last two major independent investment banking/ stock brokerage houses have now officially become commercial banks. Don’t believe me? See:
http://federalreserve.gov/newsevents/press/bcreg/20080921a.htm
My parents told me about the abuses of the Great Depression and how the stock brokers owned by the commercial banks robbed people of their life savings by having people buy stocks in failing companies, and that money was then used to pay back the bad loans to the bank that owned the stockbrokers.
Bush is destroying our nation.
RENO, Nev. â�" A few tents cropped up hard by the railroad tracks, pitched by men left with nowhere to go once the emergency winter shelter closed for the summer.
Then others appeared â�" people who had lost their jobs to the ailing economy, or newcomers who had moved to Reno for work and discovered no one was hiring.
Within weeks, more than 150 people were living in tents big and small, barely a foot apart in a patch of dirt slated to be a parking lot for a campus of shelters Reno is building for its homeless population. Like many other cities, Reno has found itself with a "tent city" â�" an encampment of people who had nowhere else to go.
From Seattle to Athens, Ga., homeless advocacy groups and city agencies are reporting the most visible rise in homeless encampments in a generation.
Nearly 61 percent of local and state homeless coalitions say they've experienced a rise in homelessness since the foreclosure crisis began in 2007, according to a report by the National Coalition for the Homeless. The group says the problem has worsened since the report's release in April, with foreclosures mounting, gas and food prices rising and the job market tightening.
Then others appeared â�" people who had lost their jobs to the ailing economy, or newcomers who had moved to Reno for work and discovered no one was hiring.
Within weeks, more than 150 people were living in tents big and small, barely a foot apart in a patch of dirt slated to be a parking lot for a campus of shelters Reno is building for its homeless population. Like many other cities, Reno has found itself with a "tent city" â�" an encampment of people who had nowhere else to go.
From Seattle to Athens, Ga., homeless advocacy groups and city agencies are reporting the most visible rise in homeless encampments in a generation.
Nearly 61 percent of local and state homeless coalitions say they've experienced a rise in homelessness since the foreclosure crisis began in 2007, according to a report by the National Coalition for the Homeless. The group says the problem has worsened since the report's release in April, with foreclosures mounting, gas and food prices rising and the job market tightening.
have you seen this?
We have a lot of work to do
everybody pitch in because America needs
CHANGE!!!
http://blog.franklynch.org/ or see comment for clickable link
the Wall Street speculators rich.
They will come up with some goofy plan for Fannie and Freddie that will leave serious invesstors wondering how it will affect the stock price
But the insiders will know beforehand and get rich ahead of us.
They should stop trading the stock and have a true takeover just like with the banks where the stock is wiped out forever
But the Wall Street insiders will get rich and you and I will probably pay $10,000 per person in taxes for the bailout
I want to hear barack saying we will not bail out the insiders
They will come up with some goofy plan for Fannie and Freddie that will leave serious invesstors wondering how it will affect the stock price
But the insiders will know beforehand and get rich ahead of us.
They should stop trading the stock and have a true takeover just like with the banks where the stock is wiped out forever
But the Wall Street insiders will get rich and you and I will probably pay $10,000 per person in taxes for the bailout
I want to hear barack saying we will not bail out the insiders
A few days ago I criticized the Repub for defrauding investors for permiting trading in the stocks of Fannie mae and Freddie Mac.
http://www.democrats.org/page/community/post/franklynch/CxMV
Today its was announced that 9 percent of mortgages are late or delinquent. Astoundingly, One of eleven mortgages are bad.
When those people become homeless, things will get much worse.
The cost to the economy and to us taxpayers for all the bank bailouts that will follow will place the US on the verge of bankruptcy.
Homeprices are going to continue to decline, which means more mortgages will be upsidedown (where the mortgage is larger than the home value). That will result in even more people walking away from their mortages, and HOME PRICES WILL DECLINE EVEN FURTHER
for years. . . .
and revene from property taxes will continue to decline, robbing our already short-changed schools of much needed revenue, so our children will pay the price of government lack of regulation
see why http:www.fluni.com
One of our Party Builders, Robert Brooks, has written an excellent article on his blog at http://thewildernessvoice.blogspot.com/
I am not duplicating his excellent article, but making a major correction. As shocking as his article is, and with great respect to Mr. Brooks, he understates the problem.
He uses the example of the year 1967 for his computations that the dollar has lost 80 percent of its value in forty years, compared, among other things to the price of gold.
I beg to argue that the two most relevant benchmarks are the price of oil, and the median homeprice, since those two items determine the price of almost everything else we spend our money on.
In 1967 a barrel of oil was $2.90 a barrel. Today, Sept. 2, 2008 oil closed at a five year low of $105, which indicates a loss of 97 percent in the value of a dollar.
National figures on median home prices are subject to manipulation, so I will use my home.
My home was built in 1967, coincidentally the same base year used as a base by Mr. Brooks.
The current market value of my home indicates a 92 percent loss in the value of the dollar. People are mistaken when they think they have made money when a homeprice goes up. What you are really seeing is inflation: it takes more dollars to buy the same thing.
In the 39 or 40 years since 1967, Republicans have controlled the White House most of the time, but there is plenty of blame to go around for both parties.
What this really means is that our government has stolen 92 to 97 percent of the life savings that people had in 1967.
And every year they are stealing more of our life savings. Greenspan is a traitor who belongs in jail, because the statutory job of the Federal Reserve is to preserve a sound dollar.
Greenspan only missed the mark by 95 percent.
We need CHANGE
In case I did not state it clearly, WE NEED CHANGE
I am not duplicating his excellent article, but making a major correction. As shocking as his article is, and with great respect to Mr. Brooks, he understates the problem.
He uses the example of the year 1967 for his computations that the dollar has lost 80 percent of its value in forty years, compared, among other things to the price of gold.
I beg to argue that the two most relevant benchmarks are the price of oil, and the median homeprice, since those two items determine the price of almost everything else we spend our money on.
In 1967 a barrel of oil was $2.90 a barrel. Today, Sept. 2, 2008 oil closed at a five year low of $105, which indicates a loss of 97 percent in the value of a dollar.
National figures on median home prices are subject to manipulation, so I will use my home.
My home was built in 1967, coincidentally the same base year used as a base by Mr. Brooks.
The current market value of my home indicates a 92 percent loss in the value of the dollar. People are mistaken when they think they have made money when a homeprice goes up. What you are really seeing is inflation: it takes more dollars to buy the same thing.
In the 39 or 40 years since 1967, Republicans have controlled the White House most of the time, but there is plenty of blame to go around for both parties.
What this really means is that our government has stolen 92 to 97 percent of the life savings that people had in 1967.
And every year they are stealing more of our life savings. Greenspan is a traitor who belongs in jail, because the statutory job of the Federal Reserve is to preserve a sound dollar.
Greenspan only missed the mark by 95 percent.
We need CHANGE
In case I did not state it clearly, WE NEED CHANGE