Craig Crawford's Trail Mix

"but McCain is against it! he should just shut T. F. UP !"

Dex -- very true...Like you, I am still outraged about Chalabi....also true about Susan Collins's voice....I have wondered how she became the spokesperson for this stimulous bill...

xrep -- agreed about being careful when labeling things as "pork." If it does good in the area, then.....

"what are you really when a lunatic calls you irrational?"

craig, a "lunatic-ee"

and don't forget to buy some forever stamps before may 11th.

that extra 2 cents helps pay mr p's salary

Here's the new way to make a fotune:

First, put all of your money into "forever" stamps.

Then, when someone at work needs a stamp (providing you still have a job), you charge them the current rate.

If you sell 500,000 stamps at a 2 cent mark-up...
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What ticks me off is that I did what I was told to do. I paid off my credit card charges every month, I saved to go on vacation or make a big purchase, I invested in my 401(k) and now it's all unraveling because of stuff other people did.

What is the Whole Foods salary plan? Something like the top person can't make more than a certain percentage over an entry-level person? It's still very generous, but clearly, something like that needs to be aadopted on a larger scale. Their is a big market in head-from-orifice removal.

Lyrics from an old Merle Haggard song:

"Are we rollin' downhill like a snowball headed for hell?
With no kind of chance for the flag or the liberty bell?
I wish a Ford or a Chevy would still last ten years like they should. Is the best of the free life behind us now and are the good times really over for good?"

Are we? Seems like we are.

Or "there"

I thought they were going to stop Tuesday deliveries?

The Postmaster General made over $800,000 last year.

OK, so I wasn't dreaming.

"The Postal Service has floated the idea of trimming one day of delivery, with Saturday or Tuesday mentioned most often."

http://tristatehomepage.com/content/fulltext/?cid=56541

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When will it end???

"The 58-year-old billionaire, now accused of running a “massive, ongoing fraud,” spent his final weeks at the firm struggling to soothe clients while disregarding subpoenas that sought to account for almost $8 billion of their money..."

http://www.bloomberg.com/apps/news?pid=20601087&sid=a7cCkC33mzbg&refer=home

------------------------------------------------------------------------

Hey, all you Facebookers seem to be safe for now.

Hey, Maybe the USGov can take internet email and make you put a stamp on it?

Remember when they first tried to make you put a stamp on a letter even if it went FedEx !!

Volume is down - Postal service is not needed like it was - Revamp !! Maybe it should be run more like the VA Hsp System.

Does the Postmaster fly in the jump seats?

ping - Don't give 'em any ideas.
I do enjoy getting less paper junk mail. Maybe it would cut back on the electronic junk mail if there was a price tag.
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In case you missed this one, too...Pat Robertson vs Mothra (Rush)

http://religionblog.dallasnews.com/archives/2009/02/pat-robertson-says-its-nuts-to.html
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However - 800K plus for this job is not out of line when compared to the responsibility.

And unlike the President - you need to have certain business skills with a track record and ability to run a successful business.

The way American Companies of this size pay he would be in the multi millions otherwise

Lets talk about something of importance - gosh now lets work on housing!

Like how the action of today with housing is so diluted with the irresponsible manner in which this new government is handling the economic crisis.

Or look at the congressman spending dollars to advertise their social spending! (Alan Grayson should be shamed)

I actually got to sit down for a few minutes with a hot cup of coffee this morning and looking out my office window, I see that some of the oaks are already starting to bloom. I don't think I've seen that happen this early since we've lived here and am delighted. I love Spring. My favorite season!

Other signs of Spring, the birds are singing loudly and there's so many of them! It's a good day.

Flatus,

Thank you so much for that tinyurl site. I will definitely use it in the future. You too Craig. Both sites are great. And yes Flatus, grand babies are unbelievably sweet. I love hearing about yours and Stinky's also.

I'm going to finish catching up with yesterdays posts, then I have to get my work done.

Checking in later.

ps (still think the price of a stamp a great bargain, and I have no problem dealing with a mon thru fri delivery schedule. they still have express mail, etc. and the usps beats ups any day of the week in my experience)

The post office always gets my stuff where it's supposed to go. On time, too. But, there's no way that I would switch my retirement pay, disability compensation, or social security from direct deposit to delivery by mail. And I pay everything I possibly can electronically--I've never had a problem doing it.

I wouldn't have a problem getting rid of Tuesday deliveries provided the premium services remained available (like Express Mail).

I wonder if the incumbent P.G. is the one who made the decision on putting FedEx 'mail' boxes in post office lobbies. Seems pretty dumb. And, when I order stuff from the govt clothing store, they send it out by FedEx instead of by the post office. Doesn't make any sense to me. But, since their boss was a big Bush supporter...

Okay. I definitely wasn't dreaming yesterday when I suggested that HRC is totally breaking the mold for what a U.S. Secretary of State does in foreign countries.

To wit, I just read this morning that she also held a "town hall meeting" at the University of Tokyo and fielded questions about her life and career.

"what are you really when a lunatic calls you irrational?"

Oh, forgot to share my opinion on this one.
I say 'it takes one to know one' fits beautifully.

Flatus, Electronically is always the best!

Ping, I hear ya, but what chance would Obama really have to get a robust mortgage bill through the senate? I don't think it would be too awfully good - the bipartisanship of 3 senators from PA and ME can only go so far - but assuming the current proposal is as diluted as you claim, were I Obama, I'd up the ante, make it robust, spend lots of time talking with and listening to McConnell and Boner, and maybe even incorporate a provision or two they say they want, then make the McConnells and Boners of the world defend their "Nay" vote to prevent a potential salvation of a system that just about every economist agrees is central to any economic recovery we might see.

And the postmaster - I'm less concerned about his salary than I am the President's - which in the grand scheme of things is ridiculously low (as are those of Supreme Court justices, federal judges, and any number of federal employees, but I digress), although the postmaster's position is more like a job and the president's is more liike public service, so from that perspective I can at least understand it.

And blue, unless your office mates use a lot more stamps than mine, I wouldn't plan on retiring on the profits on forever stamps.

Good, we needed a new mold. She's 'one of a kind' and I love her for it.

Lard - Maybe she is like all the others and still in campaign - look at me mode?

And Pres Obama did not let her into a mold... Does the word mold have many meanings? Does she need to be careful that under President Obama she does not become molding

Interesting piece on Greenspan on this morning's Politico:

THE MAESTRO AND THE MELTDOWN
http://www.politico.com/news/stories/0209/18980.html

"Does she need to be careful that under President Obama she does not become molding"

or moldy.
He takes away any more control from her, she may. He should leave power where it belongs.

"Lets talk about something of importance - gosh now lets work on housing!"

Ping
I sure wish something effective could be done on the housing front.I'm over here in Edgewater/New Smyrna Beach and things just in my little neighborhood are terrible.My home owners Association has told us people are $70,000 behind in paying there Association fee's and they may either have to raise quarterly fee's or dissolve the Association.I myself have lost over $150,000 in home value from what I payed for the house 3yrs ago.The only saving grace for us is we still have Adam's Homes that owns many lots and they are paying there fee's.I don't have a clue how to fix the problem?I'm just thankful I don't intend on moving...

I am sure that HRC is engaging with people on the Town Hall level to gain respectful understanding and encourage mutual respect between nations, a novel concept to American foreign policy that we haven't seen for years. Obama won the presidency by engaging the populous. I am not surprised that HRC is incorporating that strategy into her role as SOS.

http://blogs.cqpolitics.com/trailmix/2009/02/the-postman-rings-his-bank-acc.html#comment-201431

Hello Chloe
Me Too! Hillary is beloved around the world! IMO opinion this only helps are country.Nothing typical about Hillary,love her......

1996 sold the home we were living in, took the all the proceeds and placed it on our new home to bring the loan to value below 80% to avoid paying that mortgage insurance. We didn't under buy or over buy, we refinanced twice while interest rates went down, and never refinanced for more than the mortgage balance. Never was late with our payment, and never missed a payment. If we had to purchase items for the home, or took vacations, we either saved for them, or if we did borrow money we paid it months ahead of the terms of the contract. We drive vehicles that are 5 years old or older. Our 401K's are down about 20%, as is value of our home. My wife will be losing her sometime this year. We played by the rules, live well within our means, and for doing so we will in some fashion end up paying for/rewarding those who lied, cheated, spent foolishly, squandered their money ( this isn't referring to those who lost their jobs). Just doesn't seem right, but it is what it is.

http://blogs.cqpolitics.com/trailmix/2009/02/the-postman-rings-his-bank-acc.html#comment-201436

Good morning UB
I think your comment explains things wonderfully!

hi chloe, nice to see you around. I saw a Cardinal in the woods a couple of days ago - don't recall seeing them this early before. Fine with me, but there might be somethingto this global warming thing that we won't be so pleased with eventually. :-)

Catching up on the eveneing posts, I saw your question to me, UB - and no, I didn't see any CNBC yesterday - frankly I don't watch it - I can track the Dow in the NYT and get more than I understand about the economy from Krugman and Brooks.

One thing I thought was just frickin' delicious on the Today show was that Arizona is one of the foreclosure capitals of the nation. No matter what the final version of any housing recovery effort, Obama should go to Pheonix and sign the bill and say something like " I wish I could thank my good friend and your senator John McCain for his help in passing this bill and doing something to help his struggling constitutents, but "Nay" appears to be the new Republican idea of bipartisanship. If he were here, I'd buy him one of Cindy's beers to say thank you. Oh, well."

tonyb39

Your post is the same across America – sad shape we are - and to the point that so many are making – Why has this new Government not had the correct focus?

The Housing Crisis is a key element and cornerstone in the Economic Crisis and this Government just now starts to work on it ONLY AFTER they play their games by not staying and keeping a singular focus on the most critical life saving issues for our Economy!

They are a disgrace and flat out irresponsible.

Freshman Congressman Grayson's ads on local TV? Nothing wrong with fixing healthcare - But My Gosh – Lets fix the Economy so we can pay for these other issues.
And why hide the conversation on these other very important matters in the sham process.

I guess we get what we pay for - and so far it ain’t much!

"ridiculously low (as are those of Supreme Court justices, federal judges, and any number of federal employees, "

Pogo -- That's what is wrong with so many state houses. The salaries are minimal, net even enough to scrape by on...so the only people who can run are those with the kinds of jobs or independent incomes that they don't need the salary. That's who we have running states.

Pogo - When Obama talks about the housing crisis he needs to have Chris, Barney, Harry and Nancy - with him - and also Bush - saying.
We are so sorry that our drive to cheap housing and to put people in housing created this problem.

We should have listened to Senator McCain a few years ago - And Damn you Senator McCain - why did you let up? Why did you not stay on track and turn a blind eye to the dangerous activity that we kept pushing all the way back to the Clinton Administration.

Oh and As the new President - thank you Freddie and Fannie for all the campaign money

http://blogs.cqpolitics.com/trailmix/2009/02/the-postman-rings-his-bank-acc.html#comment-201438

Truth
Same here and it isn't right.Your comment could be describing me.I payed in cash for half of my house and have no debt but I lost $ 42,000 last year from my retirement fund and my Gen.Motors 24yr pension and medical are at risk! I also work everyday...I say to myself, I've played by all the rules and these fat cats lie,cheat and steal and come out on top...Unfair but I'm not changing so I can only hope they are forced to change....

Ping- it's all connected, you have to fix all of it....and considering the size of the task, I think it's moving along as well as can be expected.

Re: 401k there is always a risk factor when you place your funds into the market. Suze Orman the other night, recommend to a caller to stop contributing to their 401k (when it didn't include matching funds)and switch to a Roth IRA

"Nothing wrong with fixing healthcare - But My Gosh – Lets fix the Economy so we can pay for these other issues."

Yes..........

Ping, my god. Dumya and a compliant congress took 8 years to drag the economy into the state of disrepair it was in when Obama took office less than one month ago. Since then, thanks largely to the politics as usual games played by your party, Obama had to accept a less than adequate recovery package or nothing at all. After watching republican policies and priorities contribute to the downturn in the economy for the past 8 years (and I will grant you that the Dem congress had a hand in that for at least for the last 2 years of Bush's debacle) I have difficulty taking very seriously republican complaints that the new guy isn't doing a good job because he isn't focusin g on the prioritites you consider important. And yes, I know that you are going to throw blame on Clinton and his efforts (under a republican congress I might add) to increase home ownership at the expense of responsible lending, and there is some truth to that, but Bush continued that policy in spades. To now complain that Obama hasn't moved quickly enough to repair the damage done under your guy's watch strikes me as disingenuous at best.

"To now complain that Obama hasn't moved quickly enough to repair the damage done under your guy's watch strikes me as disingenuous at best."

To now complain that Obama hasn't moved quickly enough to repair the damage done under your guy's watch strikes me as disingenuous at best."

Pogo-Exactly.I say to Grace(my Republican business partner) my god Obama's only been President for a month!!!!

tony, indeed. and considering that Obama is still in the position of not having a veto proof majority in the Senate, he has to play nice to an extent rather than ride roughshod over republicans and their BS demands to continue the policies that got us to this state.

And Ping, please let me know whether it's the congress or the executive you intend to fault for the housing crisis - just so we can keep the argument straight. Fact is, the housing crisi has been cooking for the past 2 years at a minimum, and has been foreseeable for much longer than that as Bush fiddled while Rome burned (sorry about mixing those metaphors.) And I might add that Harry and Nancy - and Barney and Chris for that matter - as poor as they are - were not in charge of anything while the foundation for the housing crisis was laid, but John was in the majority and could have changed the direction of the legiaslation that led to this - had he been a leader instead of a maverick.

Craig-OD
From the last thread
Yes the first half of Larry King Live with President Clinton was good the second half was just about his foundation work..I really enjoyed hearing the former Presidents thoughts on the current problems are country is facing..I always feel better after listening to Bill Clinton......

pogo - Yes - I consider Housing among The TOP Priorities. It was a top campaign issue. What happened.
Why now? Why did the Obama Admin Wait? Political agenda overrides the good of our Country -- NO CHANGE

They made sure to slip past all this other stuff so we can avoid the discussion.

We have been robbed of a National Discussion on many critical issues - They all should just go home as even the printing press is tied up now for years.

Off to my Capitalistic, Free Market – Not taking Spendulus dollars - world

Ping, BS - why did they wait? What until they got into office? Hmmm. I wonder. No change? What for 3 weeks while trying to get a larger, broader incentive package in place? C'mon. That's crap and you know it. Slip what past? God, how could it have been any more public without delaying it even more - which of course would have brought mor criticism of delaying addressing the problems - NO CHANGE - and the rest. And we ARE having the discussion aren't we? I can't quite get a fix on whether you're complaining about the Obama admin taking too long to move on the issues in the economy or moving too quickly and depriving us of the chance to have a national discussion (like that ever happens) on them. Oh, wait - you're compaoining about moving too fast on the issues that have been moved on and moving too slow on theones that are still being worked on. I get it.

Wow...I was so ignorant...bonuses to officials who head-up failing segments of the government! I thought that was only in the private sector. This is way beyond the Peter Principle.

It amazes me that we are not rioting in the streets....

And Craig, the top mailman would never trust the mail...he gets his paycheck via direct deposit.

While waiting for the details of the efforts to stem the housing crisis, it remains to be determined:

Which group of homeowners at risk wil be assisted under the plan?

Those who simply cannot afford their mortgages, have fallen behind on payments.

Those who can afford the monthly payment but now have a home that is worth less then the mortgage balance.

The leaks this a.m. are that the plan will focus on spending some $75 billion to push banks to reduce the monthly payments of those who would not be able to remain in the home unless payments are reduced.

To be accomplished by the govt splitting the losses on these loans. (Per Bloomberg & CNBC)

Today's NYT "Bailout likely to focus on most afflicted homeowners"

http://www.nytimes.com/2009/02/18/business/economy/18leonhardt.html?hp

Coreen, I was just getting ready to post that link to the Times article on the housing bailout. I guess that's the discussion Ping is complaining we're not having, but wait . . . we are, aren't we?

Ping...

"Oh and As the new President - thank you Freddie and Fannie for all the campaign money."

You seen to forget that Freddie and Fannie buy mortgages from those who make them. It's not there job to check credit after those loans are made.

It is the Banks, Brokers and Loan Companies that did not do there home work.

They also did not slice and dice them thousands of times over and sell them to investors here or around the world.

And the companies who rate those derivatives did not do there jobs and over rated them as Triple A's investments which they were not.

Wall Street pushed out 541 Trillion Dollars of worthless paper into the economy because they were greedy, plain and simple.

That's who destroyed our economy and the Global economy as well, not Freddie and Fannie.

And the big banks continue to screw the American People and even Nationalizing them may not keep them from going under.

Mean while the elderly continue to lose their retirement funds, pensions, medical care, prescription drugs to expensive too afford or but them but skip eating for greedy SOB's. If this is your idea of a Capitalistic System then all I can say is it sucks.

I guess your not rich enough yet and need to continue seeing the American People living out of their cars, in tents or on the street.

After all its not the Capitalist that caused this problem with our economy by your understanding of the issue now is it.

Like Greenspan said they will regulate themselves and there's no need to regulate them.

Here's the Bloomberg report

http://www.bloomberg.com/apps/news?pid=20601087&sid=acZD302IjIb8&refer=home

1. $75 billion to be used

2. govt to share the cost of reducing interest rates on borrower's monthly payments

3. Plan will have the govt match lender reductions in interest payments that lower borrowers' payments to 31% of their monthly income.

Treasury will share in the cost when lenders reduce monthly payments by
forgiving a portion of the borrower's mortgage balance.

Coreen
Sheila Blair should be in charge of the progam to work with mortgages and figure out something that works.

Pogo,

These questions are on-going when we counsel debtors. And honestly, there is no simple answer.

After reading some of the posts here, the magnitude of the problem is exposed.

Curious as to what plan would some here propose to stem the tide.

As you know, I am in the group that knows that the
cramdown/mortgage stripping authority for bankruptcy judges must be legislated now--no more talk (this was an Obama campaign theme--yet to date not included in any legislation).

All "voluntary" efforts to date have failed.

Just because I spent 10 hours in the hospital, Craig goes on a writing tear. Catching up.

http://blogs.cqpolitics.com/trailmix/2009/02/how-the-stimulus-was-won.html#comment-201404

Don1One

There needs to be a balance between the public and the private. There is a reason a few of our states are called "Commonwealths" rather than states. We need to get back to the old idea of the commons where the government and the people are in concert as to the projects that are good for the people as a whole. It doesn't matter whether it was a common grazing area maintained at public expense for all livestock in the 1700s or the possibility of a universal health care system today. . What is the most practical use of public funds to benefit the most people.

The problem today is that the Republicans and the far right have been allowed to let this infrastructure wither and die and now the bills for complete repair are coming due when it should have just been maintained and improved over the years.

Lardass.... great article from politico on Greenspan....

did anyone here watch Frontline last night?..... I did..... it was excellent.... but it could barely scratch the surface of this economic meltdown with only one hour.....

I read an article in yesterday's Christian Science Monitor that said Pres. Obama wants to avoid nationalizing the banks..... and according to the article.... most economists agree with that premise.....

I've finally figured out that a "credit default swap" is an idea someone pulled out of their ass.....

Jamie - Hope all is OK...

Pogo - If my ship is sinking as it has many holes and taking on water - I am going to have a single focus on only this issue - and not try to fix the stove that has a burner out.
All Hands On Deck - My crew and passengers will have NO DOUBT that the current crisis at hand will not be premepted by any other item.

we will get to everything but in the correct and responsible manner.

Coreen

Blair did an excellent job with Indy Mac mortgage holders and has spoken frequently on this issue including last fall when she was pointedly left out of the TARP discussions.

HLOC should be a part of the discussions and bankruptcy reform as well. If judges can "cram down" the mortgages for vacation homes -primary residences should be allowed as well. If no change is coming for the primary residence, then vacation homes should be off the table as well.

Folks getting loan modifications are not getting a gift -for the most part, usually the cost of the immediate modification is added to the end of the loan or is paid off when the house is sold (with the assumption the house will have some equity at that time.)

Keeping people in their homes is not a special favor just for them. It helps the rest of the neighborhood as well and keeps them paying property taxes as well.

http://blogs.cqpolitics.com/trailmix/2009/02/the-postman-rings-his-bank-acc.html#comment-201419

The problem with the post office is that it is required by law to deliver mail to everyone in the country no matter where they are located all at the same rate. It may be time to take mail that can be moved cheaply (i.e. delivery to major towns) and put it in the hands of private firms that are required to work under the same standards of delivery. A FedEx or UPS can make a profit with a system that sets up near by pick up boxes or deliveries to major businesses.

That way the expensive deliveries to South Dump Bucket Alasaka Middle of Nowhere USA or areas of greater security such as military bases could be handled as a government expense but at much less of a cost than paying thousands of postal employees to maintain a now antiquated system of local delivery.

"As you know, I am in the group that knows that the
cramdown/mortgage stripping authority for bankruptcy judges must be legislated now"

I am very leery of this.
We put up collatreral so we get a better interest rate.
This is a valuable system to the 90+% of us who are not in trouble.
IMO there should be no changes that damage this system as we all will end up paying for the foolishness of a few.

If this is done, there should be strict limits on it.
First, all unsecured debt is wiped out before any secured debt is affected.

There needs to be some practical formula for determineing the amount that the home owner can pay. A % of income that works for someone making $50,000 a year gives someone making $1,000,000 a year a free ride.

IMO

The cure for the housing crises is to get responsible people into these vacant houses. It will do no good to prop up the foolish who over extended themselves. They need to move on and hopefully learn from the experience. That is what bankrupcy is for.

And yes, I have been one of the foolish, and paid the price.

Jack

Under the changes in the bankruptcy law, unsecured debt moved ahead of secured debt. One of the reasons for the current problems.

One of the reasons for the big money for the Postmaster was the idea to run it like a business. If limits on executive compensation for failed banks is $500k then why not the same for the Post Office.

http://www.answers.com/topic/united-states-postal-service

rom Bloomberg:

Washington Mutual Inc. got what it wanted in 2005: A revised bankruptcy code that no longer lets people walk away from credit card bills.

The largest U.S. savings and loan didn't count on a housing recession. The new bankruptcy laws are helping drive foreclosures to a record as homeowners default on mortgages and struggle to pay credit card debts that might have been wiped out under the old code, said Jay Westbrook, a professor of business law at the University of Texas Law School in Austin and a former adviser to the International Monetary Fund and the World Bank.

``Be careful what you wish for,'' Westbrook said. ``They wanted to make sure that people kept paying their credit cards, and what they're getting is more foreclosures.''

Washington Mutual, Bank of America Corp., JPMorgan Chase & Co. and Citigroup Inc. spent $25 million in 2004 and 2005 lobbying for a legislative agenda that included changes in bankruptcy laws to protect credit card profits, according to the Center for Responsive Politics, a non-partisan Washington group that tracks political donations.

The banks are still paying for that decision. The surge in foreclosures has cut the value of securities backed by mortgages and led to more than $40 billion of writedowns for U.S. financial institutions..(.from.Naked Capitalism)

Jack,

Permitting bankruptcy judges to modify loan terms would affect only those debtors who are able to to pay back some portion of the mortgage., that is have income to do so. Those who can not re-pay the mtge lose their home--that is still the reality.

Legislation to allow loan modification in the bankruptcy proceeding is leverage to prompt lenders to "voluntarily" come up with a modification rather than having a 3rd party impose the terms (which may be less desirable to the lender).

And I can not pass judgment on the "foolishness" of a few, as there were too many factors that allowed for the crisis that exists now.

http://blogs.cqpolitics.com/trailmix/2009/02/the-postman-rings-his-bank-acc.html#comment-201473

Thank You Ping,

It is okay for a children's stuffed dinosaur to have purple feet, but doctor's frown on it in human beings. All is well, no blood clot and I've been put on Plavix.

Typical spendthrift me. The government announces they will be sending me $250 and it was burning a hole in my pocket so I found a drug that would eat it up with one refill.

I admit readily that much of this financial stuff goes over my head......

I was watching CNN this past weekend and someone on their money show said something while discussing adjusting homeowner's mortgages with Ali Velshi that caught my attention.....

this person noted that even when banks voluntarily lowered mortgages on those ready to foreclose, 4 out 5 eventually foreclosed anyways..... he said some people simply bought houses that had no business buying a house in the first place.....

For those so inclined here is the text of Pres. Obama's remarks on the home mortgage crisis to be delivered later today.

http://thepage.time.com/obama-remarks-on-the-home-mortgage-crisis-in-mesa/

Fedex chairman cut his own pay by 20 percent when he had to trim the budget, now that's what i'm talking about.. http://bit.ly/18KHOf

Jamie

Sorry to hear you need Plavix. Sorry Bristol Meyers blocked the US used of the Canadian generic. Wal-Mart doesn't offer Plavix in their $4.00 plan but they do have a reduced/discount price and several other pharmacies do as well.

Posted by: RebelliousRenee Author Profile Page | February 18, 2009 11:11 AM

And many people have lost their jobs or due to the period when the cost of fuel/oil was out of site could no longer afford the house or to drive to the job that let them keep the house.

Homeowner Affordability & Stability Plan--White House fact sheet

Much to absorb--it appears to be a realistic, workable plan & it does include:

Allow judicial modification of home mortgages during bankruptcy for borrowers who have run out of options.

http://graphics8.nytimes.com/packages/pdf/politics/20090218factsheet.pdf

http://blogs.cqpolitics.com/trailmix/2009/02/the-postman-rings-his-bank-acc.html#comment-201483

Renee,

A lot of these people were sold a dream. They were told they could "pay what you can afford" where they could pay interest only on their loans with the idea that at some point in the future their income would go up to allow payments against principle or in a "hot" market the value of the home would skyrocket making a profit possible on resale even though they were basically just renting the house.

With the crash in values, job loss, and the bankers hiking fees and penalties hidden in the teeny tiny print, these people are in houses they can't afford by any stretch of the imagination. They need to be moved out as gently as possible in such a way that doesn't damage the local market any more than has already happened.

http://blogs.cqpolitics.com/trailmix/2009/02/the-postman-rings-his-bank-acc.html#comment-201491

Lardo, First heard about this a few weeks ago. If they can't produce the note, they can't foreclose without a whole lot of extra effort and court procedures. This can make it a lot easier and cheaper to just renegotiate the loan. Everyone in trouble who genuinely thinks they have been gouged by rising interest rates or shady loan dealings but who think they can afford the home if given half a chance, needs to start screaming, "Produce The Note" as a tactic to gain the upper hand and hang on to their property.

Lard

Coreen posted a link to the show me the paper story last night

http://blogs.cqpolitics.com/trailmix/2009/02/how-the-stimulus-was-won.html#comment-201310

hey.... I'm just trying to sort out this whole mess in my own mind.....

one thing I do know..... one should always ask "and who's interests do you represent?" when listening to some "expert"......

I bet if we asked the head of the Dairy Cattle Association if milk was good food.....he/she would say something along the lines.... "of course..... and one should drink it and consume it in as many products as one can stuff in one's mouth multiple times a day"....... ;)

Laura Ingraham was great this morning I love her Nancy Pelosi imitation.

http://youhavetobethistalltogoonthisride.blogspot.com/2009/02/laura-ingraham-brings-pain.html

NEW THREAD

,,,,Burris is the least of our problems,,,,seat him and get on with fixing what is wrong,,,time will get him out of their,,,they are already planning who will replace him.

From last Thread
A mail mans job looks pretty good to me about now,,,,,gov, ins, and benifits,,,all you have to do is take a little walk and delivery the goods,,,exercsie is good,,,and no one to look over you shoulder all day long.

I wish that Greenspan would STFUP,,,,why can't he just stay out of the lime light?? This financial mess is so intertwined that it is hard to come up with who and what is exactly to blame,,,and to what degree,,,,the Clinton administration did this,,,the bush did that ,,,

The way that I see it is that..both the Congress and the Senate did not do their jobs of looking out for the country,,,they just fattened their wallets,,,and helped their friends in the big Corps,,and this is all our faults,,,yes our faults,,,,we elect them into office over and over again,,,,,,,there should be term limits,,,this limits the abuse that they can do,,,,,they should have revolving heads( each party to take a turn) of committees,,,every 2 years,,( every one year would be better) this would give a clear picture of where the $ is being spent,,,it would be like an annual audit,,,,while being in disbursing (pay roll dept) in the Marines,,,we had to clear all of our paper work regularly by internal check points ( it is very complicated to keep all pay grades and benefit straight,and seniority, housing,and a lot more but it is done)....but we keep electing the same people over and over,,,they can cook the books ,,,for a while and get away with it,,,,,both parties do it no?

I also blame the two party system ,,,,and it is all our fault for this,,,,we don't insist on a third party,,,,we keep voting the screw ups in,,,,and saying that the third party's only function is to keep some issue on the table is bull,,,,,we belong to the in crowd of the Dems,,,or the Repubs,,,and once on one side or the other we want it our way or the high way,,,they both f---k up royally,,,and all we want to do is argue about who is the biggest F---k up,,,

Most of the people of (both parties) can't tell the diff between hard news,,,,soft news and entertainment,,,(Tm's crowd does,,,,but) so they are content to get it from SNL,,,all of the night comedy shows,,,yeah they don't laugh with us,,,they laugh all the way to the bank,,,,Will Ferell is making lot of the shitiest movies that anyone can make,,,I offer that as proof,,,,but he is still making them,,,cos he is a SNL star,,,msnbc,,,cnn,,,,fox ,...they all went into the entertainment biz,( they dedicate a part of the news show to how well they did on thier appearance of the Leno show or some other,,,I want the news from them not the bs),,and we put them there,,,,it is our fault,,,,all of it,,,,,and yes court jesters should be part of the Kings pleasures,,,,but not his political information Guru....This problem will go away eventually but , a lot of people will suffer cos of the two party system,,,,,,,,,and it will do so again and again,,,,,,,,and again I offer as proof the S & L debacle,,term limits and a third party ,,,will also end --or limit the special interest groups,,,except the special interest of the country!!! IMO.

NEW THREAD

http://blogs.cqpolitics.com/trailmix/2009/02/the-postman-rings-his-bank-acc.html#comment-201454

There IS NOT and NEVER was a free market economy in the USA.