September 26, 2008 by Frank Lynch.

Historically, every time the Federal Reserve has taken over a bank or savings and loan, the failed institution has been seized by the Fed’s staff arriving at the target institution’s headquarters after the close of business on Friday night, so that the public has the opportunity to adjust to the shock over the weekend, and so that there will not be a run of withdrawals the next morning.

This time, it would appear that the Fed was manipulated by politics regarding the public opposition to the Democratic Congress’ support of Paulson’s $700 billion, no strings attached, gift to his colleagues on Wall Street.

By Thursday afternoon it was clear that the Republicans in Congress had finally decided to listen to the wishes of the voters, and were refusing to go along with the Democratic Finance Chiefs Senators Chris Dodd and detached Barack Obama.

So the Fed attempted to panic the public by taking over Washington Mutual on Thursday night instead of over the weekend.

The Fed is part of the criminal conspiracy seeking to panic the public and the ignorant buffoons in Congress into a fearful stampede or else the world will end!

This is contemptible manipulation of the public through false fear, identical to the strategy of fearful stampede into the second Iraq war.

Thursday’s seizure of Washington Mutual by the Fed is a despicable attempt to use fear and panic to stampede both Congress and the public into a totally wrong and incredibly absurd course of action.

The $700 billion gift to Wall Street makes no sense at all and does nothing to treat the root cause of our problem, which is the permission of the government to financial institutions to bundle mortgages into tradable security packages.

The first step in curing the problem is to outlaw CDO and CMO packages, because they separate accountability from risk, thereby encouraging what should be criminalized activity bu unscrupulous mortgage lenders.

Paulson’s and the Democratic Congress want the bailout package to include “adjusting” individual mortgages downward, not to the new market value of the home, but to what the borrower can afford. Who determines, and by what mechanism, what the borrower can afford.

The adjustment provision goes far beyond socialism: it is pure Communism and abject redistribution of wealth.

No financial system on earth, and no nation, can survive is the government haas the authority to “adjust” individual’s debts.

The bailout package may well be the end of America.

Call your Congressmen and tell them you oppose every aspect of the bailout package.

Current laws and the operation of the Federal Reserve are everything we need for the markets to reach equilibrium. No intervention by government can make the oversupply of housing disappear.

Local governments and pressures within the Democratic Party to seze the foreclosed homes, or to use taxpayer dollars to repo them, and use them for low cost community housing is nothing but the purest form of Marxist Communism that will bankrupt America.

Every elected official who supports the Bush/Chris Dodd/Barack /Obama/Democrats bailout plans should be impeached, AND I mean it.

If you want to impeach everyone who supports the mortgage bailout send a blank email to impeach2008@gmail.com

Then go to these sites and tell your elected officials that you “OPPOSE THE BAILOUT”

http://congressorg.capwiz.com/congressorg/directory/congdir.tt

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September 21, 2008 by Frank Lynch.

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 government  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

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September 19, 2008 by Frank Lynch.

RENO, Nev. —  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 — 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” — 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.

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September 8, 2008 by Frank Lynch.

Herb Allison,, former president of Merrill  Lynch, is the government appointed head of Fannie Mae.

i have been observing for some time that trading in both Fannie Mae and Freddie Mac should have been suspended because any financial analyst with even a broken pencil could see that both companies were grossly insolvent.

Merrill Lynch, Goldman Sachs, and all the brokers have at least one sharp pencil buried beneath the salesmen, and should have reasonably known of the de facto insolvency. They should have advised their customers that these firms were insolvent.

Trial lawyers, paradise is here!

The potential liability is huge to Merrill Lynch for continuing trading these stocks and permitting their customers to buy them through Merrill Lynch, earning excessive commissions for Merrill. The lower a stock price, the higher the commission as a percent of the trade.

Now the former president of one of the firms who did hundreds of billions of trading in the bad paper is in charge of Fannie Mae?

Is there no Shame?

There certainly is no honor left in American finance ad its regulators.

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September 8, 2008 by Frank Lynch.

It was during the mid 1970’s that Fannie Mae started the widespread issuance of MBS or mortgage backed securities which were a giant fraud that built upon itself every year through the administrations of both parties.

The sham is that banks sell bad loans to Fannie who then resells them as triple A absolutely safe MBS, essentially letting the banks take the profits and the taxpayers take the risk and the losses.

As banks did this more and more, running a printing press that used this back door to let banks write government guaranteed mortgages, it fed upon itself like a cancer.

For 30 years, as both the Presidency and control of Congress shifted back and forth between both political parties, and back and forth again so that every elected official of all parties are guilty, this cancer grew, fed by bank contributions to every elected official in America, until it not only transferred $800 billion in new national debt to the taxpayers, and it has destroyed our economy.

This bailout is like cutting the tail off a dog one inch a month instead of all at once.

There will be headlines continuously as we taxpayers inject more and more capital into Fannie and Freddie.

We should, instead, just put them out of their misery and return all mortgage financing entirely to the banks and savings and loans, with no government involvement whatsoever.

This is nothing but creeping socialism.

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September 8, 2008 by Frank Lynch.

Paulson’s bailout of Fannie Mae and Freddie Mac just returned the $376,000,000,000 of their debt owned by the Chi Coms to AAA status, and guaranteed Communist China will collect every penny of principal and interest.

 Isn’t our government great?

Wait for your tax increase to pay for it.

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September 7, 2008 by Frank Lynch.

In previous posts I criticized regulators for not shutting down trading in insolvent stocks like Fannie Mae and Freddie mac.

Watch the details of the takeover of those companies. I guarantee the regulators will not do the right thing and take them over the same way as banks are taken over, by eliminating the common stock completely.

We know 9 percent of m ortgages are bad and Fannie and Freddie only have 3 percent capital so they are insolvent by 300 percent, so the stock is worthless.

Watch the regulators do a takeover sufficiently complex that you and I do not dare buy the stock immediately, yet the Wall Street insiders will know the true value and will get even richer by having access to information that you and I don’t.

Put em all in jail.

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September 6, 2008 by Frank Lynch.

A few days ago I criticized the Regulators for defrauding investors for permitting trading in the stocks of Fannie Mae and Freddie Mac.

http://www.democrats.org/page/community/post/franklynch/CxMV

Today it was announced that 9 percent of mortgages are late or delinquent. Astoundingly, One of eleven mortgages are bad.

Fannie Mae and Freddie Mac have only 3 percent equity, yet 9 percent of the mortgages they guaranteed in bad.

That means these companies are insolvent by 300 percent. And our “Broken Government” has continued to let investors be defrauded by trading these stocks.

When those people with bad mortgages 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.

 Home prices are going to continue to decline, which means more mortgages will be upside-down (where the mortgage is larger than the home value). That will result in even more people walking away from their mortgages, and

HOME PRICES WILL DECLINE EVEN FURTHER

for years. . . .

and years after that. . . .

New construction and home builders will suffer, joblessness will get worse, and for longer than anyone thinks.

The new President will inherit an economy that will be the worst in my lifetime.

Communist China will continue to beat the War Drums that opened the Olympics. Did you know those drummers were all soldiers?

Communist China will continue to take more of our jobs. Both candidates plans to spend billions for training workers for replacement jobs is money down the toilet. McDonalds trains its own employees.

The only source of NEW jobs will be green jobs in alternative energy, and we must really, really focus on that. The government will distort the development of alternative energy by wasting billions on inefficient but catchy names alternatives, such as solar power, which contributes as much pollution in manufacturing and disposing of the solar panels as it saves.

Free enterprise will handle alternative energy much better than the government, and much faster! Keep the government out of alternative energy.

and revenue 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

Please help our schools at http://www.fluni.com

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September 3, 2008 by Frank Lynch.

SEE WHY  AT THIS LINK

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September 2, 2008 by Frank Lynch.

The media is ranting into a frenzy that McCain is so stupid that he chose Sara Bara Cuda  without properly vetting her , and was blindsided by her daughter’s pregnancy.

That presumption is a suckers’ trap.

The Republicans are experts at public perception.

The Republican National Committee is exceedingly professional, as proven by their success in winning more Presidential elections than the DNC in my lifetime, which is longer than I care to admit.

Please, nobody attack me accusing me of saying Repulicans take glee in the unfortunate complication of Mrs. Palin’s family. My point is they have the cunning to make use of situations that may not be obvious to their critics.

The more likely scenario has the following hypothetical conversation taking place:

FBI: At age 44 Mrs. Palin elected not to have an abortion, and consciously elected to carry and deliver a baby that she knew had Downs Syndrome.

McCain: We can use that to prove, without ever having to say it, that Republicans practice what they preach, and believe in the Sanctity of Life even when it is hard, incredibly hard.

McCain: And we can have her appear with her daughter holding the disability baby behind Mrs. Palin to (a) show sympathy, (b) show off our belief in Right to Life, and (c) show family unity.

FBI: The problem is her daughter is five months pregnant.

McCain: Is she married?

FBI: No.

McCain: O.K. We definitely will have her hold the baby, and those people with chronic rabies infection will start a rumor that the first baby is the daughters.

Advisor: OOH! That should get us $20 million of free publicity, and infinite sympathy and anger from people who resent attacking a candidate’s family!

McCain: We should let that play out as long as possible for the most free publicity. All the time the chronic rabies crowd are attacking the poor little 17 year old, nobody is talking about Obama. It is like he dropped off the face of the earth. Yippee!

McCain: And later we can slowly, ever so slowly leak out photos and proof that it is Mr. Palin’s baby. The longer we drag it out, the worse the people attacking her will look.

Advisor: Then we can have surrogates, who must be female, appear on the news all day long showing that the 17 year old also believes in the Right to Life, and is doing the right thing by getting married!

McCain: What a fabulous anti-abortion crusade by example, by: “Do as I do, the same as I say!”

Advisor: And best of all, those Democrats will continue to underestimate us.

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