Fannie Mae: No appraisal,credit below 580, A OK!
Lets see, Fannie is 79.9% government owned (because 80% makes the government have to show Fannie on their books…)
Our government owns her and instructs her to make shaky loans, of exactly the kind that are failing horribly. When these loans default, don’t worry, taxpayer picks up the tab. Oh, wait…
Read the whole thing at (godhelpus, [...]
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ACORN Saves Homes While Feds Flounder
Oakland “Miracle” Shows Better Path Than “Hope For Homeowners’” Utter Failure
OAKLAND, Calif. – At 6:00 in the morning on Wednesday, February 4, more than 30 members of ACORN gathered at the home of Eddie and Martha Daniels in West Oakland, armed with prayers, cell phones, and the hope that Wednesday would not be a day [...]
Federal Reserve Board Abolition Act Statement
Representative Dr. Ron Paul has introduced HR 833 into congress entitled: To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes.
The bill has been introduced and referred to committee on Monday Feb. 3rd. Currently the bill does not have [...]
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Elephants Eat Christmas Trees
We learn from Der Spiegel:
“The trees provide roughage that helps keep the animals regular.”
“The zoo received 300 trees from traders this year for its three fully grown African elephants, and they have finished devouring them.”
“We fed them one or two trees each per day,” said Kauffels. “If we gave them 10 at a time they’d [...]
Fed Extends Liquidity Programs
The Federal Reserve on Tuesday announced the extension through October 30, 2009, of its existing liquidity programs that were scheduled to expire on April 30, 2009. The Board of Governors and the Federal Open Market Committee (FOMC) took these actions in light of continuing substantial strains in many financial markets.
The Board of Governors approved [...]
Hitachi Reverses Financial Outlook / Cuts Jobs
Tokyo, Japan — Hitachi changed their forecast from profitability to a 4.1-billion-dollar quarterly loss.
Hitachi is one of the world’s largest corporations. It was founded in 1910 by Namihei Odaira as an electrical repair shop. They succeeded in manufacturing three 5hp (3.6775 kW) electric motors as the company’s first products.
Today, they manufacture consumer products:
[...]
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Cures For Our Economic Disease
Texas Straight Talk – A weekly column
Congressman Ron Paul (R) – TX 14 – 02/02/09
I have recently had several opportunities on various news programs to discuss the economy and what is wrong with the so-called economic stimulus package. I have said over and over what we shouldn’t be doing, and now I’d like to [...]
Tea Party Grows into Foundation – Funds Fight Ovarian Cancer
TRENTON, N.J., (Jan 29, 2009) – The 3rd annual Teal Tea will be held May 3, at the Trenton Marriott, Lafayette Yard. Tickets are $50 per person and proceeds go to help find a cure and raise awareness of ovarian cancer. The Tea includes individual competitions for the most beautifully decorated tea table, a best [...]
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Notes From the Middle Kingdom
The People’s Daily brings us vignettes.
“With the money saved, I could buy more than 10kg of mutton.”
“The rebate made me resolve to spend 1,950 yuan on a new TV”
“…scrapping of the 2,600-year-old agricultural tax in 2006…”
“We have to think about whether we can afford the cost of running a refrigerator.”
“But we farmers have to [...]
America Recovery and Reinvestment Plan
n the weekly address, President Barack Obama addressed the latest economic news and urged the passing of an America Recovery and Reinvestment Plan.
He also announced that Treasury Secretary Timothy Geithner is preparing a new strategy for reviving our financial system — which will not only ensure that CEOs aren’t abusing taxpayer dollars, but also get [...]