Daily Archives: October 28, 2009

GOODBYE FREEDOM: Portland’s Rainbow City Council Votes Life Forms Off the Island in New Global Warming Resolution

The resolution requires the city reduce CO2 output by 80% by 2050. No, you didn’t miss the vote on this because you weren’t asked to vote on it. The Rainbow City Council voted for you and in so doing has just ‘jacked a bunch of freedoms from you.
Apparently no life forms will be allowed to populate the city. How else are you going to do it?
You’ll start with cars, then manufacturing, then humans, then pets, then???
I’d like you to start calling the Rainbow City Council and cite the science on CO2 being an endangerment to Portland. Do it now.
Check out the part about where they want to choose your food, where it should be grown, how they think pedestrians are king and car drivers are not, how they want your ‘PER PERSON CARBON EMISSIONS.” HERE.

Tell ’em where you saw it. Http://www.victoriataft.com

Boeing Goes Elsewhere to Build the 787

H/T Orbusmax: Slowly but surely dismantling the Seattle portion of the aeronautical giant. Boeing goes to South Carolina to build its jumbo jets of the future.
Union concessions that couldn’t be ironed out, workers compensation laws and high regulation are blamed for the jumbo jet giant leaving Puget Sound in the dust for the second 787 line.

Tell ’em where you saw it. Http://www.victoriataft.com

Class Envy Wins Out in Poll; Freedom Loses

They’re still taking votes, but this scares me. Look, we know these guys were greedy–and I’m just talking about the bailed out Fannie and Freddie executives—the FOB (Friends of Barack & Bill) but stepping into the private sector to dictate pay and getting this kind of support??? This is frightening. Go here to vote for yourself.

SURVEY QUESTION:

Should government regulate pay of top executives whose companies get taxpayer-backed help?

Should government regulate pay of top executives whose companies get taxpayer-backed help?
Absolutely.
86%
No way.
11%
Don’t know.
4%
Tell ’em where you saw it. Http://www.victoriataft.com

GOODBYE FREEDOM: Portland’s Rainbow City Council Votes Life Forms Off the Island in New Global Warming Resolution

The resolution requires the city reduce CO2 output by 80% by 2050. No, you didn’t miss the vote on this because you weren’t asked to vote on it. The Rainbow City Council voted for you and in so doing has just ‘jacked a bunch of freedoms from you.
Apparently no life forms will be allowed to populate the city. How else are you going to do it?
You’ll start with cars, then manufacturing, then humans, then pets, then???
I’d like you to start calling the Rainbow City Council and cite the science on CO2 being an endangerment to Portland. Do it now.
Check out the part about where they want to choose your food, where it should be grown, how they think pedestrians are king and car drivers are not, how they want your ‘PER PERSON CARBON EMISSIONS.” HERE.

Tell ’em where you saw it. Http://www.victoriataft.com

Boeing Goes Elsewhere to Build the 787

H/T Orbusmax: Slowly but surely dismantling the Seattle portion of the aeronautical giant. Boeing goes to South Carolina to build its jumbo jets of the future.
Union concessions that couldn’t be ironed out, workers compensation laws and high regulation are blamed for the jumbo jet giant leaving Puget Sound in the dust for the second 787 line.

Tell ’em where you saw it. Http://www.victoriataft.com

Class Envy Wins Out in Poll; Freedom Loses

They’re still taking votes, but this scares me. Look, we know these guys were greedy–and I’m just talking about the bailed out Fannie and Freddie executives—the FOB (Friends of Barack & Bill) but stepping into the private sector to dictate pay and getting this kind of support??? This is frightening. Go here to vote for yourself.

SURVEY QUESTION:

Should government regulate pay of top executives whose companies get taxpayer-backed help?

Should government regulate pay of top executives whose companies get taxpayer-backed help?
Absolutely.
86%
No way.
11%
Don’t know.
4%
Tell ’em where you saw it. Http://www.victoriataft.com

George Soros Puts Up $$$$$$$ to Kill the Free Market

Barack’s $ Man Speaks. Gee, I wonder where the President gets his kill the free market ideas from?
From Newsweek (h/t Big Government):

Now financier George Soros is announcing a $50 million effort to speed things along. This week Soros is gathering some of the leading practitioners of the market-skeptic school, who were marginalized during the era of “free-market fundamentalism,” among them Nobelists Joseph Stiglitz, George Akerlof, Michael Spence, and Sir James Mirrlees. He’s also creating an “Institute for New Economic Thinking” to make research grants, convene symposiums, and establish a journal, all in an effort to take back the economics profession from the champions of free-market zealotry who have dominated it for decades, and to correct the failures of decades of market deregulation. Soros hopes matching funds will bring the total endowment up to $200 million.
“Economics has failed not only to predict and explain what happened but has also failed to protect society,” says Robert Johnson, a former managing director at Soros Fund Management, who will direct the new institute. “That’s what the crisis revealed. The paradigm has failed. There is no guidance.”

Tell ’em where you saw it. Http://www.victoriataft.com

George Soros Puts Up $$$$$$$ to Kill the Free Market

Barack’s $ Man Speaks. Gee, I wonder where the President gets his kill the free market ideas from?
From Newsweek (h/t Big Government):

Now financier George Soros is announcing a $50 million effort to speed things along. This week Soros is gathering some of the leading practitioners of the market-skeptic school, who were marginalized during the era of “free-market fundamentalism,” among them Nobelists Joseph Stiglitz, George Akerlof, Michael Spence, and Sir James Mirrlees. He’s also creating an “Institute for New Economic Thinking” to make research grants, convene symposiums, and establish a journal, all in an effort to take back the economics profession from the champions of free-market zealotry who have dominated it for decades, and to correct the failures of decades of market deregulation. Soros hopes matching funds will bring the total endowment up to $200 million.
“Economics has failed not only to predict and explain what happened but has also failed to protect society,” says Robert Johnson, a former managing director at Soros Fund Management, who will direct the new institute. “That’s what the crisis revealed. The paradigm has failed. There is no guidance.”

Tell ’em where you saw it. Http://www.victoriataft.com

"Somebody, quick, call the government! The predatory lenders are back!"

By Pete the Banker
“The New York Times reports that a schoolteacher in recently got talked into buying a $134,000 fixer-upper with only 3.5 percent down. To afford that smidgen of equity, she liquidated her retirement savings. The bank rolled closing costs into the loan in return for a higher interest rate. Her monthly cost is 50 percent of her take-home pay.”
The loan in question was an Federal Housing Administration (FHA) insured loan sanctioned under the Housing and Economic Recovery Act of 2008. The FHA’s capital reserve level is now below the statutory minimum of 2 percent of its portfolio.
According to a recent article, “Subprime Uncle Sam” in the Sept 29 Wall Street Journal,

“At a 50 to 1 leverage ratio, the FHA will soon have a smaller capital cushion than did investment bank Bear Stearns on the eve of its crash. (See nearby table.) Its loan delinquency rate (more than 30 days late in payments) is now above 14%, or from two to three times higher than on conventional mortgages. Its cash reserve ratio has fallen by more than two-thirds in three years.

Today nearly one in four new mortgages carries an FHA guarantee, up from one in 50 in 2006. Through FHA, the Veterans Administration, Fannie Mae and Freddie Mac, taxpayers now guarantee repayment on more than 80% of all U.S. mortgages. Sources familiar with a new draft HUD report on FHA’s worsening balance sheet tell us that the default rates have risen most rapidly on the most recent loans

The reason for this financial deterioration is that FHA is underwriting record numbers of high-risk mortgages. Between 2006 and the end of next year, FHA’s insurance portfolio will have expanded to $1 trillion from $410 billion.

The FHA’s main lending problem is that it requires neither lenders nor borrowers to have a sufficient financial stake in mortgage repayment. Borrowers with little down payment and few if any closing costs have no equity in the home nor financial incentive to save their property if their financial condition deteriorates. Lenders protected by government guarantees bear little risk and simply extend or modify troubled mortgages or take back the secured home. Why did Congress authorize the FHA under the Housing and Economic Recovery Act of 2008 to implement a loan program so similar to those of the failed CRA era? Given the massive delinquency levels displayed by sub prime loans, why is FHA underwriting low down payment, low cost mortgages so similar to earlier subprime loans. Why is the FHA pushing these loans despite it’s own accelerating portfolio delinquencies and the decline of it’s capital reserve? Will this program simply result in future mortgage market setbacks prompting additional federal government bailouts?

Tell ’em where you saw it. Http://www.victoriataft.com