Sunday Roundup
This week, John Snow, Bush's former Secretary of the Treasury, claimed that one of the causes of the mortgage meltdown was that, in its zeal to increase homeownership, the Bush administration "forgot" that people had to be "able to afford their houses." Perfectly understandable. And it explains so much: Bush and company didn't mean to illegally torture prisoners at Gitmo -- they simply "forgot" torture was illegal. They didn't mean to trample civil rights -- they simply "forgot" about the Constitution. They didn't gin up phony intel to hype us into war -- they simply "forgot" that WMD had to be real. Turns out their guiding principle has been Steve Martin's classic catch-all defense: "I forgot!" So, will Bush's parting words be, "Well, excuuuuuse me!"?
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(Continued from Part 1)
We are a fragmented nation, that has not handled diversity particularly well, and perhaps the fact that we had the courage to elect a black man President, just may be a signal that we have overcome some of that, and can get on with the business of actually fixing some of the issues that threaten our continued future as a World leader. I do not envy PE Obama's "to do" pile, but I believe he will be up to the task, and we should all do everything and anything we as citizens can do, to do our share.
It will be a pleasure to have a President who has cogent thoughts and can actually speak whole sentences rather than fragments, and who will not be constant fodder for the comedians of the world.
The Huffington post, through it's reach can continue to provide an even more valuable service by continuing to provide a fair and balanced (not quite like Fox news) forum for people to congregate en masse to present the mood of the nation on issues that matter to Americans. Keep up the GREAT work!
Arianna,
Congrats on providing a wonderful and much needed venue for people to be able to express their thoughts without recrimination. I am in total agreement with you that George W. and his henchmen have done a disservice to our country from which it will take years to recover. However, I do believe that the Democrats share some of the blame although they appeared pretty lame when they found themselves between a rock and a hard place dealing with authorizing additional war funds.
Our best hope is that President Elect Obama is indeed the right man, in the right place, at the right time, as it will take a gargantuan effort to change the manner in which Washington functions. But CHANGE was his mantra. Washington is fraught with greed and avarice as shown by the Ted Stevens' and others of his ilk that are beholden to lobbyists and campaign contributors, and whose driving force is not the well-being of the nation, as clearly exhibited by the Southern Republicans in their efforts to stop the auto bailout, especially Senator Richard Shelby of Alabama, who shelled out millions of dollars to entice Mercedes and other foreign manufacturers to locate in Alabama.
As PE Obama has said many times, he cannot do it alone, and needs the help of the American people, not the Reds and the Blues, as he was always so careful to always say that he was "running for President of the UNITED STATES of America". (to continue)
Bush's parting words are being reiterated by everyone in his sinking administration. Today both Mrs. Bush and Condi Rice said that GWB did not fail! His administration is not a failure!
Just goes to show ya just how out of touch they all are, how devoid of the sense of reality. At first I thought that they were all trying to repair his legacy, or to influence how his legacy is written, then I realized that they really don't have a clue. If things weren't in such bad shape, their state of delusion would be laughable. Actually it is just sad.
See Ed and Deb Shapiro's Profile
Dear Arianna, If you ever want a night job you can always be a comedienne.
You do make people laugh. You never cease to entertain.
You also can be cheeky.
Life is a gas,
Ed
Great post, Arianna, and thanks for the laugh!!! Although I can't wait until President-elect Obama becomes our 44th President, we must remember ONE thing Bush and his administration did do right -- they kept all Americans safe from terrorists under their watch.
September 1,1 2001 happened on George Bush's watch. That is hardly keeping us all safe.
"they kept all Americans safe from terrorists under their watch."
What about the 4,200+ soldiers and the tens of thousands of soldiers injured?
Safe my FOOT!
That post made me laugh out loud!
Arriana:
You have said a lot in the lighter vein. In my humble opinion however, there are 4 parties to blame here:
1. The Government and the Fed for not regulating the financial industry, and especially securization, enough. For example, in Canada, we have a cooling off period, which is defined as a specific period of time in which you can reconsider your consumer decision. As a consumer, you are entitled to cancel within this period, for any reason you like.
2. The financial institutions: Their risk management functions for not seeing the risk of over-investment in rapidly saturated marketplace, their auditors for not highlighting the over valued assets, and their fraud investigation units for not able to find fraud.
3. The mortgage brokers for trapping the innocent people into becoming homeowners and 'speculative buyers' and then working with 3rd parties for concocting false employment papers and false proof of incomes, often working with shell operations who would verify employment if called.
4. The common man for not being smart enough to read the fine prints in the mortgage documents, but more critically, letting the mortgage brokers prepare fake documents for them. Although they may not have intended to defraud in the strictest sense of the definition, but trying to qualify for a deal through fake credentials for which they would not qualify otherwise can be an intent to fraud.
It was not necessary to qualify for these loans so that was NOT the Fraud! $0 down, no qualifying, 1% teaser rate so what naive buyer could resist the low payment!
The FRAUD was the hundreds of pages in hidden fees and penalties including 10% adjustments of rates and massive Pre-Payment Penalties that kept them in the loan for life! Even lawyers have a hard time understanding the many conditions!
We need at mas a ten page or less contract that defines the parameters and the values in simple English!
Cause of Mortgage Meltdown like Madoff Meltdown (different twists)!
1. Long range Plan/Scheme. Layers of Fees and More Fees!
2. Find large naive client base in need!
3. Recognize “there is a Sucker born every moment” promise better life and they will sign mortgage.
4. Work is good for f00ls but harvesting f00ls’ rewards is best multiplier of wealth.
5. Refine your plan/scheme and become Expert on Schemes!
6. Layers of Schemes promising BIG FEES at all levels.
7. Develop products claiming “rocket science” to Build Makeups!
8. Hire people with your philosophy/goals, pay/bribe them with Bonuses/Salaries.
9. Translate FEES to large Salaries/Bonuses to pilfer into private accounts.
10. Use paying a broker or paying for complex instruments as part of normal business.
11. Use another country/city, e.g., London, to store pilfered funds for later distribution.
12. Bribe for "AAA" ratings for paper to appear Safe. Clients “beg” to buy.
13. What the f00ls don’t know won't hurt them! Fake the value of Instruments.
14. Everyone and every entity is target. Charities, countries, friends, acquaintances, businesses with MONEY! It's their problem if they lose as they are ignorant!
15. Leave your conscience in your childhood, “no use on Wall Street!”
16. Marketing is everything sales representatives all over Europe, Asia, and US.
17. When caught “Don’t worry it take years and we have $Billions around World for legal defense.”
More of the same.
Alberto Gonzales: "I don't remember."
Scooter Libby: "I don't remember."
George Bush: "I don't remember."
How very convenient that everyone in the administration suffers from memory loss.
So, in other words, "I forgot."
My opinion is that anyone who tries to whitewash what Bush did the past 8 years is just plain ignorant.
Trying to make his legacy one of honor is never going to happen (no matter what fox news or anyone says) and he will go down in history as the worst president ever. He and his republican co-horts have ruined our country.
Well,
I find hard to see one darn thing that we can call a success.
As you point out, the Fox News propagandists are busy.
Spinning phony reports of threats to Christianity, Ten Commandments, and Christmas holiday greetings.
Faith remains undiminished.
Crude attempts to enfold Obama into the Blago,,, Pay for Play,, scandals.
Baracks Birth Certificate and citizenship fluff.
Blaming the failing economy on the Left?
Taunting lack of SEC and Government oversight of Financials as somehow the solitary fault of Barnie Frank.
Crushing all hope of comprehensive Immigration Reform under shouts of Amnesty Fears.
The Legacy Project telling us that we have been safe since 9/11,,, without a single word about the conditions that lead to 9/11 in the first place. (Saudi Extremists that demanded all American troops leave Saudi Soil) Same as with the 1993 WTC attacks against Daddy Bush policies.
Social Security, The Economy, Industry, Manufacturing, looming Trade Deficits, Energy, Global Climate Crisis, Iraq, Pakistan, Iran, (Workable, peaceful nuclear power agreements), North Korea, Somalia, Djibouti, Ethiopia, Darfur, Lebanon, Georgia, Turkey, Italy, India, France, England, Spain, and the final result of an abandonment of Middle East peace efforts, the NEW “Christmas War” with Palestine.
Name a land that DEATH has not touched since Bush has take office?
We have a LONG HARD road ahead, but we will fail if we remain divided.
Republican and Democrat, Rich and Poor, we need to come together.
As Americans!
(Bleep) Fox News!
All the best
Knute
So-called GOP "Conservatives" have been coating themselves with teflon for too long. According to their Big Lie PR, they are not responsible for anything that goes wrong even when they were running the government (badly) and are certainly responsible. Put the blame where it belongs - on this radical crowd who portray themselves as outsiders when they are the servants of special interests, or try to make special interests their servants. Time to set the record straight and take back the country for a couple generations. That means calling them on every lie.
Realization, "calling them on every lie" must also apply to the Democratic politicians.
At my family Christmas celebration, my oblivious relatives were crowing about the "morons who bought homes they couldn't afford" No amount of trying to make sense about how the Bush administrations "Ownership Society" and the predatory lending policies it engendered were equal partners in the process.
What I would ask those relatives is this:
If you had a lot of money and your young, irresponsible nephew came to you and asked for a loan and you thereafter gave it to him, who's really the idiot?
Oooh, that's a good tactic
Reason is not the Republicans LONG SUIT and they can not hear since their ears are clogged with False Ideologies. Facts have been know to cause Republicans to faint!
I'm afraid he;s parting words will be "pardon me" as in:
"I pardon me and Cheney and anyone who ever worked in this administration."
The best legacy of the George W. Bush's administration is his unrepentant Vice President Richard - Dick - B. Cheney. He is the spokesman for those who believe not in the Jonas Salk’s “survival of the wisest” but rather in Darwin’s "survival of the fittest" reflecting the time when human beings most important responsibilities were self-defense and physical survival. As the rest of the animal kindom, being selfish and looking after one's own interest was of the highest priority.
So for him regardless of what he might profess to be his spiritual beliefs, his true gods are gods of raw power, disregard for those who do not share his philosophy of life, and ultimately representing a fraction of the society.
I hope the God, that he will be remembered as the worst not only Vice President in our history but as a deplorable human being who should have never occupied the lofty office to which he was entrusted.
Regarding the President, I just hope these next few days will pass ASAP and that for everyone’s sake he will disappear from the radar of our lives.
How about all those who "pulled the level or punched the card" because they wanted someone they'd enjoy having over for a backyard barbecue.
Have they conveniently forgotten how they contributed to this national disaster by electing him?
I dare any of them to keep those infamous "W" stickers on their cars.
Touche'.
This was down, I think, to the Gingrich Republican revolution of 1994, which essentially based the right wingnut Christian base of the Republican party, who decided to embrace one of their 'own' as a candidate and convinced others that the change needed was someone 'on their level' to govern to the masses.
Well, he s c r e w e d the masses and still they don't see.
Call me elitist, but I want someone at the top of his intellectual game sitting in the Big Chair.
Good riddance to W and all of his ilk.
I agree with you.
But personally, I'd much rather have Obama in my backyard for a BBQ. He's cool! ;)
I feel like ripping off that W sticker everytime I see it on someone's car, but that might be too time-consuming.
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