On September 11, 2003, the New York Times ran a story with the headline:
“New Agency Proposed to Oversee Freddie Mac and Fannie Mae”
The story is amazingly prophetic. Here are the first few paragraphs of the story:
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.
The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac — which together have issued more than $1.5 trillion in outstanding debt — is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.
The democrats in congress stopped President Bush’s plan for this major overhaul of Feddie and Fannie. Now here we are five years later and because congress choose to do nothing, we are in the middle of this major meltdown. It’s real easy to point a finger at President Bush and use him as a scapegoat, but when we really look at the truth of the matter, we see the finger prints of the democrats all over this mess.
Singing the Our Father is not an easy feat. Sure, many priests do it all over the world brilliantly during mass. It’s different however to actually put music to it and sing. Two of the best versions I believe are by Matt Maher and Michael W. Smith. Listen and tell me what you think.
In 1950, Pope Pius XII described evolution as a valid scientific approach to the development of humans, a view that was reiterated by Pope John Paul II in 1996. But Ravasi said the Vatican had no intention of apologising for earlier negative views.
“Maybe we should abandon the idea of issuing apologies as if history was a court eternally in session,” he said, adding that Darwin’s theories were “never condemned by the Catholic Church nor was his book ever banned”.
Andrew Bolt of the Herald Sun picked up on a number of interesting similarities between Sarah Palin and Barack Obama. Bolt has all the source quotes on his page.
“In order to stop Islamic extremists, those terrorists, who would seek to destroy America and our allies, we must do whatever it takes, and we must not blink…”
We should start with the premise that the United States, like all sovereign nations, has the unilateral right to defend itself against attack. As such, our campaign to take out Al Qaeda base camps and the Taliban regime that harbored them was entirely justified… (I)f we’ve got (Osama bin Laden) in our sites, we should ask for Pakistan’s cooperation, we should ask Pakistan to take him out. But if they don’t, we shouldn’t need permission to go after folks that killed 3,000 Americans.
Asked whether the United States would have to go to war with Russia if it invaded Georgia, and the country was part of NATO, Palin said: “Perhaps so.” “I mean, that is the agreement when you are a NATO ally, is if another country is attacked, you’re going to be expected to be called upon and help,” she said. Pressed on the question, Palin responded: “What I think is that smaller democratic countries that are invaded by a larger power is something for us to be vigilant against … We have got to show the support, in this case, for Georgia. The support that we can show is economic sanctions perhaps against Russia, if this is what it leads to.”
I would also argue that we have the right to take unilateral military action to eliminate an imminent threat to our security— so long as an imminent threat is understood to be a nation, group, or individual that is actively preparing to strike U.S. targets (or allies with which the United States has mutual defense agreements)…
I have consistently called for deepening relations between Georgia and transatlantic institutions, including a Membership Action Plan for NATO…
No, no. I agree with John McCain that nuclear weapons in the hands of those who would seek to destroy our allies, in this case, we’re talking about Israel, we’re talking about Ahmadinejad’s comment about Israel being the “stinking corpse, should be wiped off the face of the earth,” that’s atrocious. That’s unacceptable.We have got to make sure that these weapons of mass destruction, that nuclear weapons are not given to those hands of Ahmadinejad, not that he would use them, but that he would allow terrorists to be able to use them. So we have got to put the pressure on Iran and we have got to count on our allies to help us, diplomatic pressure.
(T)he global community should offer “big sticks and big carrots” to persuade Iran to halt its nuclear programme. “A nuclear Iran would pose a grave threat and the world must prevent Iran from obtaining a nuclear weapon…”
GIBSON: What if Israel decided it felt threatened and needed to take out the Iranian nuclear facilities?
PALIN: Well, first, we are friends with Israel and I don’t think that we should second guess the measures that Israel has to take to defend themselves and for their security.
I will always keep the threat of military action on the table to defend our security and our ally, Israel.
Dwight: Welcome to the Hotel Hell. Check in time now. Check out time is never. Jim: Does my room have cable? Dwight: No, and the sheets are made of fire! Jim: Can I change rooms? Dwight: No, we’re all booked up. Hell convention in town! Jim: Can I have a late check out? Dwight: I’ll have to talk to the manager. Jim: You’re not the manager…even in your own fantasy? Dwight: I’m the owner….the co-owner. With Satan! Jim: Okay, just so I understand it… in your wildest fantasy, you are in hell. And you are co-running a bed and breakfast with the devil. Dwight: But I haven’t told you my salary. Jim: Go. Dwight: Eighty thousand dollars a year!
Kwame Kilpatrick has pleaded guilty to two of the eight felony courts against him. This means he must resign immediately. He will also have to pay the state of Michigan over 1 million dollars and go to jail for four months.
Rush Limbaugh on Kwame’s Resignation: He can still be elected mayor in Washington D.C.
Judge Robert Ziolkowski is set to announce any minute if Michigan governor, Jennifer Granholm can begin a hearing Wednesday on whether to force Detroit Mayor Kwame Kilpatrick out of office. I will have video of the announcement as soon as I can. Kilpatrick’s lawyers want to delay the hearing until after the Mayor’s two criminal trials are complete.
What do you think will happen?
Update 11:05am – The governor’s hearing will begin! The mayor’s request to delay the hearing has been denied. The video is boring, i may not post it. Nothing really happened.
In 1950, Pope Pius XII described evolution as a valid scientific approach to the development of humans, a view that was reiterated by Pope John Paul II in 1996. But Ravasi said the Vatican had no intention of apologising for earlier negative views.