I attended part of yesterday’s tea party at the Gold Dome, and a couple of things were apparent: The crowd was significantly smaller than last year’s massive rally (suggesting in part that Sean Hannity > Neil Cavuto as a crowd attraction), but its members remain passionate if the conversations I had are any indication. I also think it would be a mistake to view the smaller size as an indication of a waning movement, if only because I find it hard to believe that people who were upset last year about the stimulus and bailouts would be pleased with the direction Washington’s taken since then.
A lot of what was said by the speakers and written on the signs was, a year after the first big rallies, pretty much predictable. That’s not to say it’s stale or somehow bad; it’s just that the message and the motivation haven’t really changed. As for the buzz that there would be infiltrators trying to make the tea partiers look bad, there seemed to be none of that in Atlanta. I saw only a couple of counterprotesters holding pretty lame signs (”I’d rather be watching ‘Glee,’ ” one of them said, and no one was stopping her from doing just that). At other tea parties, the participants dealt with the faux tea partiers in their midst calmly and prudently.
With that, I’ll finish with a cartoon from Reason.com that smartly sums up why so many Americans are unhappy with the way the country has been run.

139 comments Add your comment
Bubba
April 16th, 2010
12:21 pm
Let’s hope the tea party zeal translates into voters at the polls in November. My question for the tea party members and other conservatives who are justifiably upset by the direction of the country is thiss: how many of you stayed home in November ‘08 rather than vote for McCain. If you did, you share the blame.
The Tar and Feathers Party
April 16th, 2010
12:24 pm
FROM TODAYS AJC: SEC pins recession on Wall Street firm
Lawsuit claims Goldman Sachs largely responsible for financial crisis.
THIS IS WHAT I HAVE BEEN SAYING ALL ALONG. BUSH AND HANK PAULSON COVERED UP FOR AND PROTECTED GOLDMAN ALL ALONG. THE AXIS OF EVIL RUNS FROM WALL STREET TO K STREET. TIME TO SHUT IT DOWN.
The Tar and Feathers Party
April 16th, 2010
12:26 pm
AFTER 8 LONG YEARS OF REPUBLICANS LOOKING THE OTHER WAY WHERE GOLDMAN AND THEIR ILK WERE CONCERNED, THE TEA PARTY PEOPLE NEED NOT VOTE REPUBLICAN. JOIN THE TAR AND FEATHERS PARTY, WE ARE INTO REVENGE.
Bubba
April 16th, 2010
12:26 pm
Calm down, T&F. Did you bother to read the story, or just the headline? I don’t think they’re “pinning” the recession on Goldman.
JohnnyReb
April 16th, 2010
12:31 pm
Bubba – Not too worry, the Tea Party has supporters who can’t come to the rallies because they are working, but will take the time to vote in November (like me).
Tar and Feathers – don’t believe a word from the SEC; that’s the same group who ignored the warnings about Madof. The root of the financial breakdown can be traced to our own peanut farmer president who started the program to put people in housing the could not afford. Presidents since him let it continue, but Boozo Clinton turned up the pressure with Janet Reno intimidating banks to make more sub-prime loans. From that point, the loan packaging, etc. go out of hand and there is no excuse for that, but it was kinda like giving a kid a gallon of icecream and telling him to eat only a few scoops. Progressives who favor government control of everything won’t agree.
The Tar and Feathers Party
April 16th, 2010
12:34 pm
I support seizing all Goldman assets, arresting each and every member of the firm, seizing all records and computers, and lets have a big public trial. Destroy the Axis of Evil!
joe joe
April 16th, 2010
12:36 pm
The Goldman Sachs thing is a dog & pony show.
The dirty little secret is that Wall Street Exec’s(not the rank & file workers) are hooked in with the govt & are liberal.
I don’t need any analysis or comments from the supposed brainiacs about this little game that they are playing on us.
GS knows that they will be totally fine in the end & Obama gets whatever he wants.
I tell ya, the Big 3 (Media, Govt & Wall St Exec’s) is sickening, joined at the hip & very liberal.
They’re all buddies that hang out & socialize together. I’m sure they will all have a nice summer together in the Hamptons laughing there arses off on how they continue to screw us.
The Tar and Feathers Party
April 16th, 2010
1:00 pm
So joe joe, you would expand the axis of evil to run from Wall Street, through Madison Avenue, to K-Street? I can’t argue with that, so I agree.
jopar
April 16th, 2010
1:02 pm
Enter your comments here”The dirty little secret is that Wall Street Exec’s(not the rank & file workers) are hooked in with the govt & are liberal.”
Now there is a well kept dirty little secret, you’ve a brilliant imagination, JJ.
DannyX
April 16th, 2010
1:05 pm
It’s obvious, the Tea Party has lost its steam. The economic miracle Obama and the Democrats have pulled off has mortally wounded them. This coming off the big health care let down. The backlash was all but a Tea Party dream. The level of opposition was way overstated.
Your 15 minutes are up Tea Party.
scrappy
April 16th, 2010
1:06 pm
What makes me so upset with the Tea Party in particular, and what is summed up in your cartoon, is that both parties have been doing this! Repubs are just as much to blame for writing nonsense bills and having a hey day with the taxpayer monies. The Tea Party only became a “movement” after Obama won – which to me equals – they lost control and are now having a 2-yr old-like tantrum over it. (The author of the Tea Party Contract stated he began drafting the contract right after Obama won – not after Obama actually did anything)
If everything in the past year had turned out the same – same taxes – sames legislation – same everything – except McCain won – would the Tea party be in existence? (this is a real possibility considering McCain’s views on the campaign trail)
JohnnyReb
April 16th, 2010
1:11 pm
DannyX – you are wishful thinking! The best indication of Tea Party folks that will translate into an outcome, those that will vote the same, are political polls and broadcast ratings. All the polls show sustained resistance to Obama and the Dem agenda. Fox News has ratings that dwarf CNN, MSNBC and legacy broadcasting. Membership to the The Heritage Foundation has jumped from around 270K to over 650K since Obama took office. Yes, the writing is on the wall, but it exactly opposite than you state.
joe joe
April 16th, 2010
1:14 pm
Yes T & F, the connection from K Street to Wall St management is incestuous. But the media & the politicians are right there in the middle of it. That group of people are all in it together.
Hey jopar, please debate my point about how close these people are. If you don’t know that these people are all friends you have not been paying attention.
The Tar and Feathers Party
April 16th, 2010
1:17 pm
Joe Joe, I support President Obama, but I worry that tiny tim geithner is owned by the new york crowd. When push comes to shove, he will side with Wall Street.
Kevin O'Keefe
April 16th, 2010
1:22 pm
Tar and Feather, you have got it all wrong. First, the problem with Goldman Sachs actually began with Fannie Mae and Freddie Mac back in 1998. First you had the repeal of Glass-Steagall which kept retail, commercial, insurance and investment banking segregated. Secondly, Bill Clinton along with Andrew Cuomo, then Sec of HUD, worked a deal with Republicans that if $2.8 trillion in low cost mortgages would be made available to minorities then he, Clinton, would sign the Graham, Leach, Bliley Act which repealed Glass-Steagall. This stroke of the pen by Clinton immediately created the Dot Com or Tech Bubble because now every bank could get into the underwriting business and is how the garage companies like DogFart.com became publically traded companies capitalised in the 100s of millions when it nothing but a one room daisey-chained computer server operation run by 2 individuals. The reason Clinton did this was Southern Christian Leadership organization had long argued that minorities were discriminated against when it came to getting loans because many did not have verifiable income nor did they even own a bank account. Well Fannie and Freddie solved that problem and they went from backing approximately 8% of the mortgage market in 1998 to roughly 60% by 2007. In return, home ownership went from a 100 year historical average of just over 50% before Clinton took office to almost 70-75% by 2007 in 15 short years. This debunked the law of large numbers reality. Fannie and Freddie were able to do this because of the financial derivative tools of securiting the high risk loans as well as using credit default swaps which had come on the scene in 1994 after a JP Morgan investment banker convention in Boca Raton, FL which made everyone believe that the entire system was safe from implosion as the other banks were counter party to each others risk. What no one thought about was a complete systematic collapse at the time. However, in 2004 GW Bush’s administration actually tried to have congress investigate Fannie and Freddie as they did see the possiblity of a collapse. It was good times though and Sen Chris Dodd and Rep Barney Frank saw no need to disrupt a wealth transfer program which was working as they saw it as intended. Minorities were buying homes no money down, no verifiable income and no job in some cases. They could stay in the home for a couple of years paying interest only and walk away with a 20 -30% profit. In short, the situation was not caused by Republicans and certainly not G W Bush. The Democrats were up to their eyeballs in what became the housing and credit crisis.
Here, I have enclosed and article carried in every major news paper from 1999 that raves aout Clinton’s little housing project that I described.
http://findarticles.com/p/mi_pwwi/is_20050229/ai_mark07000832/
Guy Incognito
April 16th, 2010
1:25 pm
Yes, GS is culpable, but then the question is, “Why was the paper they were pushing toxic”?
Answer…….People in homes, who should have been life-long renters. That’s why
Keep up the good fight!
April 16th, 2010
1:27 pm
“faux tea partiers” — did not know that there was a litimus test or some pledge. Apparently you have to agree on all points to have a voice or to attend? What exactly is the test Kyle? How do you determine who is “faux” and how they are “dealt with”? If there are only true tea partiers “allowed” and a KKK guy is a part…I guess that means that all tea partiers believe that?
You cannot have it both ways Kyle. Tea partiers cannot disown and “deal with” a person in the protest and say they “dont represent my interests” and “faux partiers” and then claim there is not a “test” or that those who remain do not represent them. Where is the “party pledge”.
The Tar and Feathers Party
April 16th, 2010
1:27 pm
Kevin O’Keefe: Strange that 90% (by dollar volume) of the defaults are to white folks, not blacks. I think you are just trying to muddy the waters, to protect the wall street crooks.
Linda
April 16th, 2010
1:28 pm
Kevin@1:22, Your article can’t be found. Please retype it. Thanks.
scrappy
April 16th, 2010
1:29 pm
What makes me so upset with the Tea Party in particular, and what is summed up in your cartoon, is that both parties have been doing this! Repubs are just as much to blame for writing nonsense bills and having a hey day with the taxpayer monies. The Tea Party only became a “movement” after Obama won – which to me equals – they lost control and are now having a 2-yr old-like tantrum over it. (The author of the Tea Party Contract stated he began drafting the contract right after Obama won – not after Obama actually did anything)
If everything in the past year had turned out the same – same taxes – sames legislation – same everything – except McCain won – would the Tea party be in existence? (this is a real possibility considering McCain’s views on the campaign trail)
Kevin O'Keefe
April 16th, 2010
1:29 pm
Tar,
It won’t let me link the article. So Google: 1999 Homeownership Rate Hits Record Annual High of 66.8%
There you will find it. Hope in enlightens you about what really happened and not what you wish had happened. The only way to solve problems is to look at what really caused then in totality. Then and only then can we collective come up with a viable solution.
Kevin O'Keefe
April 16th, 2010
1:33 pm
Tar actually, article after article has been printed both here in Atlanta in the AJC and in the NY Times that the Black Community has been hit the hardest by the mortgage crisis. I’m not sure where you get your information. President Obama has said the same thing. Maybe you are right and the press and Obama has it wrong.
CJ
April 16th, 2010
1:38 pm
Despite the fact that 95 percent of Americans received tax cuts last year, the tea partiers gathered to whine about having received imaginary tax hikes in a country having among the lowest tax burdens of all developed nations.
I continue to be amazed that so many would allow themselves to be led around by the nose by the fact-challenged right-wing noise machine.
Kevin O'Keefe
April 16th, 2010
1:46 pm
CJ, federal taxes went down due to the Bush Tax cuts which expire in January. State, local and property taxes have soared. In Atlanta, property taxes went up around 40%. Remember that most middle class people in those developed nations to which you refer don’t own their dwelling they lease directly from the government. So comparing our system to theirs is a little off. There is good and bad no matter which system you choose.
scrappy
April 16th, 2010
1:52 pm
Kevin – Will expire in next Jan. or already did? Either way, Bush cut taxes at a time when he also went to war with 2 countries, not usually a good idea, and the deficit skyrocketed. Isn’t one of the Tea Party contracts to balance the budget? Guess as long as you are a GOP then it is ok.
State, local, and property taxes are not exactly what the Tea Partiers are protesting. There protesting is aimed at the federal government. Not that I like that the State taxes keep going up, but they should focus their protests to the correct place.
Keep up the good fight!
April 16th, 2010
1:57 pm
Let me give you some more buzz Kyle. Your tea party is sponsored by David Koch and Americans For Prosperity. Why is that? Why is he spending millions?
Kevin O'Keefe
April 16th, 2010
2:11 pm
Scrappy, Tea Partiers were just at the Georgia State Capital yesterday. I don’t think that constitutes complaining to the fedreal government. I live in Atlanta and I can tell you that most are complaining about property taxes including whites, blacks, conservatives and liberals. So you are wrong to assume it is only directed at the ferderal government. Also, raising taxes has never increased the federal coffers. Wars…Well let’s see how many Democrats have waged war:
War of 1812 – James Madison – Democratic Republican (Today is the Democratic Party
Civil War – Abraham Lincoln – Republican – Southern Democrats succeeded from the Union and fired the first shots of the war in SC
WWI – Woodrow Wilson – Democrat
WWII – FDR
Cold War – Harry S Truman – Democrat – Inventor of the Truman Doctoran and Domino Theory
Korean Conflict – Harry S Truman – Democrat – Harry went to war without approval of congress
Vietnem – JFK and LBJ – Democrats – A Republican Richard M Nixon got us out of that war
Persian Gulf 1 – George Bush – Republican
Gulf War 2 – GW Bush – Republican
Afghanistan – GW Bush – Republican
Also, Since WW1 Democrats have controlled congress 66 years to Republicans 16 the other years it was equally divided. So tell me again who is responsible for wars and the shape of the country?
Finally, the last Party to balance the budget was the Gingrich Republicans.
DannyX
April 16th, 2010
2:13 pm
My property tax went up $300 last year. The same amount our Republican state government withdrew in property tax support. At the same time the state handed out a billion dollars in special interest tax breaks to their business buddies.
Poor ethics and incompetence rule the Republican party in Georgia. An easy target for the Tea Party? The fact that the Tea Party looks the other way says a lot. The big bad Georgia Tea Party is paralyzed by the crooked lobby influence in it’s very own backyard.
Linda
April 16th, 2010
2:16 pm
To add to Kevin’s comment….
The fed. govt. back in 1934 began the process of redlining, preventing lending in neighborhoods they considered risky, printing & distributing the maps to real estate agents & lenders.
In 1977 community organizers, ACORN-type groups, convinced Carter to reverse the trend with the passage of the Community Reinvestment Act, but it only applied to banks.
In 1995 Clinton strengthened it to apply to all lenders. Congress, led by Dodd & Frank, required Fannie Mae & Freddie Mac (Government Sponsored Enterprises) (GSEs) to reduce their lending standards. Countrywide & other mortgage companies soon joined their lead.
Mortgage companies originated the loans, sold them to secondary lenders such as Fannie & Freddie, who packaged them with prime loans & sold them to big banks on Wall St. as mortgage investments/securities.
Developers, builders, real estate companies, mortgage companies, home buyers, real estate investors, tax departments, etc. were profiting until the real estate bubble burst. Who would have ever thought that buyers with no down payment, no job & bad credit could not afford to make their payments, especially when the adjustable rate mortgages adjusted?
Republicans! In 4/01, Bush’s budget request for ‘02 said that Fannie & Freddie posed a “potential problem” & if either were in trouble, it could “cause strong repercussion in the financial markets.”
Republicans introduced bills in both ‘03 & ‘05 to rein them in.
Frank said on 9/13/03, “I think we see entities who are fundamentally sound financially…The more pressure there is there, then the less I think we see in terms of Affordable Housing…”
Greenspan said on 2/24/04, “If we fail to strengthen the GSE Regulation, we increase the possibility of insolvency in a crisis. We put at risk our ability to preserve safe & sound financial markets in the US.”
Dem. Sen. Charles Schumer, said on 4/7/05, “Things are good in the housing market. Why are people entertaining radical change?”
By the beginning of ‘08 the GSEs had issued over $4 trillion in loans.
TARP, the toxic assess relief program has not bought a dime of toxic assets.
(They tried to rein in Fannie & Freddie in both 2003 & 2005.
Linda
April 16th, 2010
2:29 pm
CJ@1:38, The Economic Stimulus Bill where taxpayers got our tax cuts was not free. It cost almost a TRILLION DOLLARS & placed a burden on each taxpayer.
The taxpayers who make $50K & got a tax cut of $807 but owes $1405.
The taxpayers who make $75K & got a tax cut of $878 but owes $3783.
The taxpayers who make $200K & got a tax cut of $1138 but owes $10,646.
Instead of the Economic Stimulus bill, he could have cut the payroll tax for 2 YEARS & come out cheaper. Imagine what that would have done to the economy.
The average income is about $50K. Most people would not even notice a tax break of $10 a week.
Jefferson
April 16th, 2010
2:33 pm
Did the pawns eat prawns at the party?
Intown
April 16th, 2010
2:44 pm
I saw the Tea Party at the Capitol. It was underwhelming to say the least. The most irritating thing was all the folks who are co-opting symbols from the Revolutionary war period (e.g. – Don’t tread on me flags) to make them stand for something that they do not. Overall, it looked like a surprisingly weak showing for Georgia’s retardfest.
Linda
April 16th, 2010
2:47 pm
scrappy@1:52, You said, “Bush cut taxes at a time when he also went to war with 2 countries, not usually a good idea, & the deficit skyrocketed.”
By 2/09, those 2 wars had cost us about $800 Billion dollars fighting for 15 years, 8 years in one & 7 years in the other.
That didn’t stop Obama & the Dems from spending almost the exact same amount of money 3 wks after he took the oath with a bill they didn’t even take the time to read, when we were still fighting both of those wars, one of which he later escalated. That bill also included tax cuts which Obama was bragging about today.
joe joe
April 16th, 2010
2:48 pm
T & F if you are supporting a politician, President Obama in this case you are going to be sadly disappointed. I wouldn’t trust 99% of them regardless of what side of the aisle they are from.
These people only care about themselves & Obama is the most narcissistist of all of them.
Just listen to how mant times he says “I” in a speech.
Unfortunately we elected a guy that has never had a private sector job. He has no management experience.
How do we have a lawyer in control of trillions of dollars & the dude has never done a business plan.
Heck I have more economic experience than him & I’m a regular nobody.
If we don’t get more business people in power instead of attorneys we are facked.
The Tar and Feathers Party
April 16th, 2010
2:51 pm
Kevin O’Keefe: The Black community has been hit the hardest because they are the poorest. That does not mean they borrowed the most and defaulted on the most. Poor people with loans less than 100K could not have put us in this trillion dollar disaster, it took upper middle class people making 90K and up buying 500K house they could not afford, in hopes of selling a few years later for a 100K more.
scrappy
April 16th, 2010
2:52 pm
Ok – so the people at the State capital are fine, but what about the thousands that converged on Washington yesterday to protest? And all of the rhetoric coming from Palin about the Obama administration, I don’t think I am wrong in assuming they are protesting the federal government. I also don’t think I am wrong in assuming that this (tea partying) wouldn’t be happening if a GOP member had won the white house and done the exact same things.
Thanks for the history lesson, but it has no bearing on the blog here or the present economy situation as to which president and what party started a war in the 1800s. A current war, which is underfunded, however, does have bearing on the current economy.
Truth Matters
April 16th, 2010
2:57 pm
O’Keefe, The black community can be hit the hardest without being the largest number of cases. Blacks make up less than 8% of the US population,but like many things are portrayed as the main beneficiaries of public assistance.When most people think of welfare(Food Stamps) they think black people. Now it has been true that many in the Black Community have been affected by the mortgage crisis and the effects have been pretty bad. Many Blacks who were affected were living in the homes they were financing which then had catastrophic results.Many of the other forclosures were in many cases 2nd or rental/investment properties. I remember how so many people went to real estate/wealth building seminars and thought they could be the next Donald Trump. So when the bubble burst many of them just walked away. After all, many of them had somewhere to live. It was much more than sub-prime mortgages going bad,Here you had banks and large companies carrying huge debts with very little liquid(reserves),you had the country spending billions on wars and once the bubble burst,it was the blame game. Everybody has some blame,many people bought homes they couldn’t afford, banks packaged bad debts into other investments,the Govt bailed out some and were responsible for encouraging these bad business practices, capitalism at its best, money rules and greed is looked at as the standard, but unfortunately when all is said and done this all started because Black people were allowed to buy homes they couldn’t afford and to make matters worst the Black President just gave Health Insurance to who else”Black People”.
scrappy
April 16th, 2010
2:59 pm
GOP raises taxes = its for our troops, it for our military, GO USA!
Dem raises taxes = they hate the USA and our socialists trying to re-distribute wealth.
GOP deficit = it was for the USA, GO USA, kill the terrorists, kill everyone.
Dem deficit = they are selling us to China, they hate the USA, they are socialists trying to re-distribute wealth
GOP healthcare = capitalism will make the USA stronger, GO USA.
Dem healthcare = they are taking away the best healthcare in the world and foolishly redistributing it everyone instead of the wealthy – they are socialists
JohnnyReb
April 16th, 2010
3:02 pm
Intown – your post shows you do not understand the Tea Party folks. I had an exchange with Jay Bookman yesterday because he did not understand why the Tea Party referred to Tyranny.
The Tea Party bases such signs as Don’t Tread on Me, and references to Tyranny on the history of the colonies separating from England. Don’t tread on me was a popular saying then. As for Tyranny, if there is not Liberty, there is Tyranny. Any number of Obama policies and bills passed since he took office show a loss of Liberty. The health care bill being likely at the top of the list.
JohnnyReb
April 16th, 2010
3:10 pm
O’Keefe and Linda – your posts are some of the best I have read on the housing and financial collapse. While the Democrats are not doctor’s, clearly they failed the “do no harm” test when forcing housing for minorities that ended up costing everyone dearly. Barney Frank, Chris Dodd, and Chuck Schumer should all be impeached, or better yet tarred and feathered. No civil, descent person endorses the discrimination blacks suffered. However, the government’s social engineering to try and mitigate that harm has ruined us all. Decent hard working people of all colors who have never harmed anyone now find themselves with no nest egg for retirement and can no longer sell their home to move to a smaller one at lower cost to live out their lives. This and this alone should result in the Dems suffering the biggest defeat of all time in November.
Linda
April 16th, 2010
3:12 pm
scrappy@2:52, You are right. The Tea Party movement is national & 99% of our protests are against the actions at the federal level.
If a GOP member had won the White House, he would not have done the exact same things. I’ve never experienced any president fighting against the Constitution & trying to turn our country from capitalism into a socialist state.
BS Aplenty
April 16th, 2010
3:16 pm
What’s the financial score, Kyle. The last time I checked Mr. Warren Buffett said the U.S. government would actually make money on the TARP program. Make money. How about that. Big bad ol’ GW Bush, Hank Paulson, Ben Bernanke, et al. had actually saved the financial services sector at no cost to the taxpayer.
Now, again, the last time I checked the U.S. government had bailed out FNMA and FHLMC to the tune of $175 BILLION and climbing. The ultimate tab for this government fiasco will be borne by the taxpayer.
So, at half-time, the score in the great financial give-away:
FNMA & FHLMC – $175,000,000,000.00 & climbing
TARP Program – $0
Peter
April 16th, 2010
3:18 pm
Hey Kyle ……… People are upset because we melted down under the BUSH / Republican watch…….
Remember the Republican Mantra is….. no regulations, let the markets sort all out !
You are a Funny Guy Kyle !
LibraryJim
April 16th, 2010
3:19 pm
Simple reason the turn out was smaller: it was a weekday/workday. Most of us in the Tea Party Movement have to work for a living. I try to save MY days off for when I need to take time with/for the family. IF it were on a Saturday, I think you would have seen a stronger turn-out.
Michael Funk
April 16th, 2010
3:21 pm
For a unique look at the Tea Party Movement, its historical context, and its most likely disposition, you may want to read an in interesting article at:
http://funks2.wordpress.com/2010/04/16/the-trip-to-nowhere-on-the-tea-party-express/
mit
April 16th, 2010
3:23 pm
tea baggers are full of it.
Kevin O'Keefe
April 16th, 2010
3:28 pm
Tar and Feather, again you assume too much. There are many more $100,000 properties than there are $500,000 ones. The GSE’s have reported that the average foreclosure is $77,935. So you still want to tell me that it is mostly $500,000 homes? your math doesn’t add up! If you read the article you would see that minorities BY FAR benefited the most during the housing boom and because of that they have also been hurt the most by the bust. As Linda said better than I, people (often minorities) were given (Ninja) loans. (N)o verifiable (I)ncome – (N)o (J)ob – or (A)ssets because black leaders had argued that using the same criteria on blacks to qualify for loans was discriminatory. This was why lending standards were dropped also as Linda said. In return for assuming that increased risk Fannie and Freddie bought those loans and repackaged them into tradeable securities which were literally sold around the world as AAA investment grade paper or shares. As fannie and feddie grew and posted astonishing returns every other bank wanted in on the game and because of the repeal of Glass-Steagall they could do it.
Scrappy,
It is the right and duty protected in the constitution to assemble in peaceful protest. If you don’t like it then don’t watch it. However, I find it odd that people didn’t mind when Bush was being protested and he deserved to be. Obama represents the opposite extreme of Bush. Most people want something more moderate in government and leadership. That is why they are there and will continue to be there until the will of the people is achieved. You don’t like it…Then find another country to plop you stuff in. We have been protesting in this country long before we were a country and we will protest long after you and I are dead! It is called freedom. Free at last…Free at last…Thank God Almighty, We are free at last…REMEMBER?
mit
April 16th, 2010
3:32 pm
o’keefe, your will of the people is just more govt. control.
Linda
April 16th, 2010
3:33 pm
JohnnyReb@3:10,
In the ’90’s, the Dems/Progressives were pushing Affordable Housing in the name of Social Justice. It caused a world-wide financial recession.
Now, in 2009-10, the Dems/Progressives were pushing Universal Health Care in the name of Social Justice.
They took the best hc system in the world that insured 85% of Americans, 95% who were happy, lumped millions more people into Medicare that’s broke, lumped billions of dollars on the states, putting our insurance companies out of businesses, taxing our manufacturers of medical devices, adding 16,500 IRS police officers, raising taxes on taxpayers, raising taxes & reducing incentives to corporations to cover their retirees, raising taxes on drug makers, adding a 6000 member army, mandating Americans to buy insurance, mandating employers to provide insurance, cutting Medicare & ignoring the Constitution.
Immigration reform will add perhaps another 12 million people with others to follow.
Peter
April 16th, 2010
3:35 pm
Scrappy………You are a funny guy like Kyle !
Brad Steel
April 16th, 2010
3:47 pm
The word “nobody” it the cartoon should be replaced with “the tea party”.
The Tea Party doesn’t seem to understand much of anything. But I will hand’em this: they are real good at making home-made signs.
JohnnyReb
April 16th, 2010
3:47 pm
Linda – don’t you think the immigration reform push will bring out as many or more protesters as there was against healthcare. Bush could not get reform off the ground, it would seem Obama has even less of a chance. I predict he will fail, then address it through executive order. Here’s some levity for Friday afternoon —
Is it just me, or does anyone else find it amazing that during the mad cow epidemic our government could track a single cow, born in Canada almost three years earlier, right to the stall where she slept in the state of Washington? And, they track her calves to their stalls … But they are unable to locate 11 million illegal aliens wandering around
our country. Maybe we should give each illegal a cow..
Kevin O'Keefe
April 16th, 2010
3:51 pm
Mit, I actually believe that with every law that is passed we lose more of our freedoms. I believe in less government in my life. Living in Atlanta I snarrle everytime I drive through an intersection that has cameras although I haven’t had a traffice ticket in 14 years which was my third ever. I am a law abidding citizen who doesn’t need Big Brother looking over me and my family. I am against a 2000 plus page healthcare bill that didn’t have one sentence within which addressed controling healthcare costs. I am against being intellectually insulted by leadership which tells me that my premiums won’t change and I’ll have access to the same or better services when more doctors are leaving medical practices faster than they are being replaced according to the AMA. What I saw was government agency after agency being formed and program after program being created (”at no additional cost”) – yea right! If you are for that then I say to you that you support a much larger government than I, my friend. If governments were so efficient at doing things we never would have needed trade, markets and entreprenuers. In reality those three things were present before governments ever existed.
CrazyInGA
April 16th, 2010
3:55 pm
The protesters or Tea Partiers should be concerned with the way our GA Legislatures have pushed the 2010 budget issues into the future. Reason, I saw a signed that said my grandchild (about 6 months old) is already in debt and he doesn’t have a job. I said to myself, the republicans run Georgia and they are pushing debt unto your grandchild as well. I hope you call them on their lack of paying for debt as it is incurred, rather than push it on your granchild. Otherwise, you are a hypocrit.
mit
April 16th, 2010
3:58 pm
o’keefe, I am talking about the will of the people. they use govt. to control other people.
JohnnyReb
April 16th, 2010
4:00 pm
CrazyInGA – incompetence is catching. Seems the GA legislators took a play from the Obama handbook. The healthcare bill taxes start now but the benefit do not kick in for 4 years – all for the sake of looking good and jimmining the books.
mit
April 16th, 2010
4:00 pm
I believe in less government in my life -o’keefe
so your for gay marriage, pro-choice, and all the other wills people have used govt. to control others.
CrazyInGA
April 16th, 2010
4:01 pm
Kevin O’Keefe
April 16th, 2010
3:28 pm
You obviously don’t work with averages very often. Also, in this state and definitely in the Metro Area, a $77,000 property is very hard to find and almost rare. I would venture to say that most of the homes in Metro area “in foreclosure” are more likely $150,000 to $350,000.
I live about 30 miles outside of atlanta and I didn’t find a $77,000 house 12 years ago, long before the housing boom really took off.
multicultural R US
April 16th, 2010
4:02 pm
who wonders? it’s no mystery.
teabaggers are a bunch of aging white conservatives from the rural west/south who are upset that political/cultural dominance is slipping from their grasp.
their rage won’t be quenched with one or two elections. the underlying issue is that teabaggers represent a declining demographic… soon, the multiculturals that tom tancredo and co. fear so much will be the majority and dominant power in this great nation. and the teabaggers will rage on…
CrazyInGA
April 16th, 2010
4:04 pm
JohnnyReb
April 16th, 2010
4:00 pm
Georgia problems were incurred prior to the Obama administration. He’s not the reason Georgia is facing tough economic times. You can’t blame the democrats or Obama for the problem in Georgia. Purdue has been in office for two terms and last time I checked he was running this state.
Kevin O'Keefe
April 16th, 2010
4:07 pm
Well mit, you will never get 100 percent of people behind or for anything. There is an uninhabited island down in the Bahamas though….I think you know what I’m getting at. Point is that the majority of people polled in poll after poll are against the form, style and manner in which this government both democrat and republican, both Bush and Obama have operated. I see a lot of people in this world that want not equal rights but speacial rights. Until we kick that mindset then we as a country are going to be like a crack addict in a crack house trying to get clean.
JohnnyReb
April 16th, 2010
4:10 pm
CrazyInGA – I did not blame Obama for Georgia problems, what I wrote was, the GA legislators took a play from Obama’s books – tinkering with the math to make it look good. You can’t deny that is what happened with the healthcare bill.
As to house prices – the Southside is flooded with houses that sold for $120K or greater that can now be bought out of foreclosure for $60K or so. Contractors are buying them, putting a few thousand in refurbs, and selling for a $100K or less.
#1 Foxy Lady – again you show your lack of intelligence with name calling. Go away.
HDB
April 16th, 2010
4:13 pm
Kevin O’Keefe: You’re wrong in this aspect about wars: Vietnam – JFK and LBJ – Democrats – A Republican Richard M Nixon got us out of that war…
Actually, a Republican got us into Vietnam – Dwight David Eisenhower!! When he signed the SEATO Treaty in September, 1954, he committed us to go to Vietnam. When the French pulled out of IndoChina, we were committed to go in!!
You’re also wrong in that lending standards were reduced; the preponderance of mortgages were created by non-financial entities (mortgage brokers)…and they sold them to the financial entities!! Please do not blame the CRA for what mortgage brokers created!!
Linda: You fail to see what Reagan and Bush did to get this nation on this path that Obama is trying to take us AWAY from!! Reagan’s quadrupling of the deficit in his first term and his persistent cutting of domestic spending…and Bush’s unfunded mandates got us here!! Start looking at them before you start blaming Obama!! And BUSH pushed the Ownership Society….the explosion in the real estate market occurred under HIS tutulage….
mit
April 16th, 2010
4:15 pm
i haven’t seen any special rights activist, civil rights and human rights. you will have to give example for me to reply to that. but -majority of people polled in poll after poll are against the form, style and manner in which this government both democrat and republican, both Bush and Obama have operated.- o’keefe. I know, this is america. We hate the govt. but all i am asking is for some common sense. for example asking for Tax cuts really = services cuts, like police and firefighters, this to me is bad. a balanced budget is a good idea but if something happens (heat went out in feb.) just like my budget at home, it now unbalanced but i couldn’t help that, need heat more than a balanced budget in Feb. Catch my drift.
HDB
April 16th, 2010
4:17 pm
If governments were so efficient at doing things we never would have needed trade, markets and entreprenuers. In reality those three things were present before governments ever existed.
Kevin…if governmental controls weren’t properly applied…the result is the financial collapse!! Remember….loosening of tariffs allowed increased trade….but it also allowed manufacturing to go offshore…and the economic capability of the nation to decline…..
Kevin O'Keefe
April 16th, 2010
4:17 pm
Does anyone moderate here?
Foxy Lady – You should be banned.
CrazyInGA,
Have you noticed that most states are in financial trouble? Doesn’t take a rocket scientist to figure out why. Home values down, salaries down, unemployment up, business closings, residential foreclosures, school closures etc, etc. Of all the 50 states we are actually one of the healthier ones. Imagine if you were in California, Oklahoma, Michigan, Arizona, Hawaii, new Jersey, New York or Nevada?
Kevin O'Keefe
April 16th, 2010
4:20 pm
SEATO was created as apart of the Truman Doctrine.
Linda
April 16th, 2010
4:23 pm
The original Boston Tea Party in 1773 was by activists against the British government. It was over taxation without representation in Parliament. It was the key anti-government event that led to the convening of the First Continental Congress & the American Revolutionary War in 1775. The sentiment of the Tea Party led American into becoming the richest most free nation in the history of the world.
The spirit of the Tea Parties today is to be commended. We believe in liberty, fiscal responsibility, the Constitution & its specific limitations on the fed. government, & the one & only Bill of Rights.
Obama said, “We are five days away from fundamentally transforming the US of America.”
Socialism has destroyed every advanced civilization in the world as it’s bankrupting our country today. It doesn’t build countries or create jobs. It destroys wealth & people. We fought & died for our freedom & aren’t about to see it taken away from us by our own govt.
The intimidation techniques, smear tactics & lies against the Tea Parties from the White House, the legislature, the media & bloggers are merely apparent foolish, pathetic attempts to take away our rights to assemble & speak, the very reason for our being. There’s no need for us to defend ourselves. We know that you know who we are & what we stand for. The more you rattle, the more we will roll.
If you love your country & your freedom, you are welcome to join us.
retiredds
April 16th, 2010
4:25 pm
Joe, Joe @ 2:48. Please remember that when you go to the polls next time and pull the lever for your candidate that he not be a lawyer or someone who has no financial or economic background. We both know that the Congress is the arm of government responsible for the budgets that get passed. As the old saying goes, the president proposes and the Congress disposes.
Kevin O'Keefe
April 16th, 2010
4:27 pm
Besides having a presence and a full military engagement are two different things. My father was there as an advisor in 63. When Eisenhower left office we had 700 troops in Vietnem. By 63, JFK increased it to 16,000. By 1965 LBJ had it up to 50,000. Get your facts straight. We were following Truman’s, a democrat. Domino Theory and is why the troop build up was escalated under JFK and LBJ. Matter of fact the Vietnem war is often called “LBJ’s War”.
Linda
April 16th, 2010
4:32 pm
JohnnyReb@3:47, I didn’t think hc would pass. It’s amazing how holding Senators hostage on Xmas Eve Eve, threats over the Strategic Air Command, dropping indictments, proposing youhonorships, offering money & other miscellaneous bribes & pork can muster up votes.
My bet is on FedX. They can find an envelope any where in the world in 60 seconds.
HDB
April 16th, 2010
4:34 pm
Kevin, SEATO was created in September, 1954 – Eisenhower was President, John Foster Dulles was Secretary of State. The Truman Doctrine focused on Communist expansion in Greece and Turkey…….
HDB
April 16th, 2010
4:37 pm
Kevin: the commitment was made under Eisenhower; first combat troops were placed in Vietnam under Eisenhower….the escalation was under Kennedy and Johnson!!! It’s called LBJ’s War because of the escalation…but Eisenhower made the committment for the US to BE there!!
Kevin O'Keefe
April 16th, 2010
4:43 pm
I don’t care when it was signed. It followed the Truman Doctorine. I just looked it up and I was right. Google it. Next type in Vietnem Troop build up. Read it. Military keeps very good records on who and how many were where and when. Fact is you can’t fight much of a battle much less a war with 700 troops. I think we had more in the 6 or 7 day war in the Dominican Republic. I know my aunt’s father was killed in 1965 there. The guy was just unlucky because I think we lost less than a dozen marines. Guess his time was up.
Linda
April 16th, 2010
4:49 pm
mit@4:00, The definition of marriage is very simple but it does discriminate against the sex, age, number, relationship, will, life & species of the parties. If you open it up for one group, it would not be fair to all the other groups.
Linda
April 16th, 2010
4:53 pm
Crazy@4:04, What about the billion dollar mandate Obama just laid on Ga. in the hc bill? Why do you think almost all the states are either passing legislation & filing lawsuits? Why do you think they are trying to impeach Baker?
TINSTAAFL
April 16th, 2010
4:54 pm
CrazyInGA
When he said that the average foreclosure was $77k, that doesn’t mean that the property/house was worth $77k. That’s however much was left on the loan when the owner defaulted. I doubt too many people buy a mortgage, never make a single payment, and then default. You own the property for a period of time, lose a job or something, and have no ability to pay your mortgage.
No More Progressives!
April 16th, 2010
4:59 pm
CJ
April 16th, 2010
1:38 pm
Despite the fact that 95 percent of Americans received tax cuts last year, the tea partiers gathered to whine about having received imaginary tax hikes in a country having among the lowest tax burdens of all developed nations.
1) I didn’t get any tax cut last year.
2) Among the lowest of all developed nations?
See for yourself.
http://www.worldwide-tax.com/
Kevin O'Keefe
April 16th, 2010
5:00 pm
HDB,
This is off topic of this thread but I just read up on SEATO and there was three thing that Eisenhower required prior to signing
1) At least one other European power would become involved in any conflict, not just the USA;
2) The USA would only provide air and sea cover, other countries would have to provide ground troops and
3) The USA would only act against ‘communist aggression’. It was not prepared to commit forces to Asian inter-country conflicts.
As you can see, JFK and LBJ went far beyond to stipulations within the treaty. Thanks for making me look that up.
Shane
April 16th, 2010
5:02 pm
Tea Partier = Angry old white people
the republican party is on life support and almost dead. They arent even relevant nationally anymore.
No More Progressives!
April 16th, 2010
5:05 pm
#1 Foxy Lady
April 16th, 2010
3:44 pm
To all you Tea Partiers, #1 Foxy Lady says:
SUCK IT, LOSERS!!!
How many teeth do you have? Any?
I’ll bet you look really good in that ‘68 Camaro with the bondo on the left front fender.
Kevin O'Keefe
April 16th, 2010
5:07 pm
Yes, CrazyinGA that is the NATIONAL average of what remains on a mortgage when it goes into foreclosure according to the government agencies. I work with averages a lot in my field. When the Shadow foreclosures are released here shortly, I would expect that number to rise a bit though. I think there is 6 million NATIONALLY in shadow foreclosure.
No More Progressives!
April 16th, 2010
5:09 pm
Shane
April 16th, 2010
5:02 pm
Tea Partier = Angry old white people
the republican party is on life support and almost dead. They arent even relevant nationally anymore.
You keep believing that, Tonto.
Shane
April 16th, 2010
5:19 pm
You keep believing that, Tonto.
I will. The republican party has moved so far to the right they have lost alot of followers. When Sarah Palin an Alskan beauty queen is seen as one of the leaders of your party you are in big trouble. The republican party is pretty much a regional party now. They will win in the south but thats about it.
You Distort/We Deride
April 16th, 2010
5:25 pm
Tea Partier’s protest the status quo but offer nothing in its place. A lot like the Republicans they truly are.
You see, a strong tax base helps support the military. Something they’re vehemently in favor of. Hmmm. Can’t have it both ways.
Linda
April 16th, 2010
5:26 pm
HDB@4:13, I beg to differ but I was right in the middle of things from 1977. After the S&L crisis in the ’80’s, almost all loans were written according to Fannie Mae guidelines whether Fannie actually bought the loans or not. They had the strictest rules & were based on the actual history of foreclosures. You are right that mortgage brokers originated the loans, but they have no money, no depositors. They sold them on the secondary market & Fannie was the industry leader. Fannie & Freddie indeed reduced their lending standards, mandated by Clinton & Congress.
Clinton BRAGGED in his autobiography published in ‘02 before the bubble broke that it was his adm. that was responsible for $800 B in Affordable Housing loans.
Clinton also ADMITTED in an interview with ABC that the Dems resisted all efforts by Bush & the Dems to rein in Fannie & Freddie.
Try this site: htt;://www.nytimes.com/1999/09/30/business-fannie-mae-eases-credit-to-aid-mortgages-lending.html
It says, “…to individuals whose credit is generally not good enough to qualify for conventional loans…Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under pressure from the Clinton adm. to expand mortgage loans among low & moderate income people…loans to so-called subprime borrowers…whose incomes, credit ratings & savings are not good…Fannie Mae has expanded home ownership for millions of families in the 1990’s by reducing down payment requirements….Fannie Mae is taking on significantly more risk…but the govt.-subsidized corp may run into trouble in an economic downturn, prompting a govt. rescue…by the yr. 2001, 50% of Fannie Mae & Freddie Mac’s portfolio be made up of loans to low & moderate-income borrowers. Last year (1998) 44% of the loans Fannie Mae purchased were from these groups…”
I never said Bush was innocent. There is much blame to go around, but the Dems want to blame Bush for everything. Just because 9/11 happened 7 mts. into his adm. does not mean he was flying the planes.
BeHonestAboutIt
April 16th, 2010
5:27 pm
The tea party crowd statistically is white, male, over 50, well-educated, and well-off financially. Their protest is that their pile of goodies might get smaller. That’s it. Period. Be honest.
Linda
April 16th, 2010
5:29 pm
retiredds@4:25, They don’t even have a budget. They said they might get around to it sometime around Memorial Day (or was that Labor Day).
Shane
April 16th, 2010
5:29 pm
The tea party crowd statistically is white, male, over 50, well-educated, and well-off financially. Their protest is that their pile of goodies might get smaller. That’s it. Period. Be honest.
Thats it exactly. But hey they gots theres right?
Linda
April 16th, 2010
5:37 pm
All the bloggers on this site leave @ 5:00 PM to go watch Glenn Beck. I don’t have to. I have him on my season pass on TiVo.
No More Progressives!
April 16th, 2010
5:42 pm
Shane
April 16th, 2010
5:19 pm
You keep believing that, Tonto.
I will. The republican party has moved so far to the right they have lost alot of followers. When Sarah Palin an Alskan beauty queen is seen as one of the leaders of your party you are in big trouble. The republican party is pretty much a regional party now. They will win in the south but thats about it.
Sarah Palin is not the leader of the Republican party. Michael Steele is. Sarah Palin is just doing what they’ve asked her to do, becuase it infuriates liberals.
You guys always tip your hand when it comes to who scares the heck out of you. First thing you do: character assasination.
As far as moving right; perhaps. But gladly we’re not told what to do by MoveOn.org, SEIU, The Daily KOS, that unemployed proctologist from Vermont or Keith Olbermann.
Win the South only? Who’s the Govenor of New Jersey?
No More Progressives!
April 16th, 2010
5:46 pm
Shane
April 16th, 2010
5:29 pm
The tea party crowd statistically is white, male, over 50, well-educated, and well-off financially. Their protest is that their pile of goodies might get smaller. That’s it.
So, now you’re a statistician. How did you develop your sample? You were there personally at every rally, right?
Linda
April 16th, 2010
5:53 pm
Andrew Breitbart offered $100,000 to the United Negro College Fund if Rep. John Lewis showed any evidence the N-word was actually yelled at the Congressional Black Caucus by a Tea Party member the weekend the hc bill was passed. There were cameras & cell phones all over the place.
There’s a lot of lyin’ going on.
You Distort/We Deride
April 16th, 2010
6:01 pm
Sarah Palin infuriates liberals? You’re kidding, right?
Substitute amuses for infuriates and you’re on the right track.
I guess the way she lies and distorts the truth may be infuriating, but not because I’m a liberal. It’s infuriating because so many fools ingest her waste product as if it were an intellectual donut.
Kevin O'Keefe
April 16th, 2010
6:01 pm
Linda,
The days of screaming,”Racism or somebody just called me the N-word,” to get their way is coming to an end. Even black neighbors of mine are sick of how some of these people are handling themselves. WHen Norwood was accused of being a racist by Reed in the recent majoral race here in Atlanta many minorities felt Reed went too far.
Gator Joe
April 16th, 2010
6:02 pm
Kyle:
As a Democrat, I’m not so concerned about the Tea Party mobs. What does concern me is some of their rhetoric, which has violent undertones. For example, “Take our country back!”, take it back from whom? and how? Take it back from a legitimately elected president and legislature? Conservatives, indeed everyone, should be concerned about the fringe element of this movement and the extreme right. Finally, even if this movement succeeds in changing the Congress in November, the Presidency will remain unchanged. Beyond that, do you honestly believe, Democrats once they are in the minority will not remember the Republicans’ “just say no” policy?
Michael
April 16th, 2010
6:07 pm
Tea-baggers, we’re white, not too bright, and think a black President is not right.
No More Progressives!
April 16th, 2010
6:21 pm
You Distort/We Deride
April 16th, 2010
6:01 pm
Sarah Palin infuriates liberals? You’re kidding, right?
Substitute amuses for infuriates and you’re on the right track.
I guess the way she lies and distorts the truth may be infuriating, but not because I’m a liberal. It’s infuriating because so many fools ingest her waste product as if it were an intellectual donut.
A Rose by another name…………………….
A real classy remark there, Deride. We’ve been shoveled Bovine Fecal Matter by Reid, Pelosi et al for so long now………………….those are the best you guys can put out there?
And thank you for making my point. Infuriate, amuse, what’s the difference. Annoying liberals has become a sport, and you’re clearly annoyed. By SarahCuda.
No More Progressives!
April 16th, 2010
6:22 pm
Michael
April 16th, 2010
6:07 pm
Tea-baggers, we’re white, not too bright, and think a black President is not right.
Did you get a prize in your box of Cracker-Jack?
And he’s half-white, in case you’re wondering.
SparkChaser formerly kown as JohnnyReb
April 16th, 2010
6:37 pm
Hea progressives, can’t you do better than name calling? It looks to me there have been some really good comments on this thread made in sincerity and honesty. If you can’t rebuttal with facts, why show your lack of knowledge. BTW, TeaBaggers is a sexual term that Jay has blocked on his blog, I’m surprised Kyle has not done the same (you can google it).
You Distort/We Deride
April 16th, 2010
7:59 pm
You WANT to believe that Palin annoys liberals. The truth is, she wields ZERO power, ZERO influence, over the decisions of our day. She is a figurehead, self-anointed, and nothing else. You may dig her, but just because you’re a fan doesn’t empower her in the least.
Tommy Lee Maddox
April 16th, 2010
8:34 pm
Hey Danny X – what economic miracle were you speaking of way back on the first page?
Come November, the awakened angry beast will vote. There’s a bunch of us with it marked on our calendar.
You Distort/We Deride
April 16th, 2010
9:17 pm
Tommy
Yeah – You’ll vote for the same pretenders you ALWAYS vote for…the ones who talk about “principles” and then sell us all down the river.
Michael H. Smith
April 16th, 2010
9:31 pm
In return for assuming that increased risk Fannie and Freddie bought those loans and repackaged them into tradeable securities which were literally sold around the world as AAA investment grade paper or shares. As fannie and feddie grew and posted astonishing returns every other bank wanted in on the game and because of the repeal of Glass-Steagall they could do it.
A couple of problems don’t disappear with re-enacting parts of the Banking Act of 1933 that prohibited bank holding companies from owning other financial companies, repealed under the Gramm–Leach–Bliley Act of 1999. (Glass-Steagall as it is commonly referred to is actually two separate laws; one enacted in 1932, the other 1933)
Item 1: The problems with lair loans or ninja loans is clearly attributable to the “Loan Originators” no longer having to qualify loan applicants, which allowed for legalization of fraud to be committed.
Item 2: Allowing the “repackaging of loans”, these “questionable loans” particularly and the Enron type “mark to market” valuation of them that allowed their assignment as “investment grade securities” further perpetrated the fraud generated by the “Loan Originators”.
Glass-Steagall- part 2 or The Banking act of 1933 clearly does not address or separate fraud from entities that desire to commit “fraudulent conveyance” or from being a conspiring party to it, merely by separating bank types according to their business, be it commercial or investment.
With this hindsight, whether Glass-Steagall- part 2 is restored by repeal of the Gramm–Leach–Bliley Act of 1999 or not, in order to prevent the financial repercussion experienced in the financial and housing markets that has figured chiefly in the economic meltdown, a return to the traditional rules or laws followed by loan originators of qualifying applicants is a necessity and strict enforced laws governing the repackaging of loans and the assessment of their risk and true market value must be fully disclosed. In addition, federal laws prohibiting “False Conveyance” which should include “Claw Back” previsions must be enacted.
Keep up the good fight!
April 16th, 2010
9:31 pm
Linda…really you spew a lot of misinformation…mostly from Fox. Check in on reality.
16,500 new IRS agents to enforce health care? Absolutely false. There are currently only 17,000 enforcement agents now for the entire IRS code. And what are they enforcing? The law says no penalty or jail time.
I’m not going to bother with the rest. You can fact check yourself or just go to a source like Politico.com.
Michael H. Smith
April 16th, 2010
9:44 pm
what are they enforcing?
Who knows what rules or laws the IRS will be enforcing or the actually number of agents that will be needed. As Alcee Hastings said, when the deal goes down… they”ll make’em up as they go along.
http://www.youtube.com/watch?v=CbHTJSu_2Lk
What an absolute RIOT!!
Algonquin J. Calhoun
April 16th, 2010
10:08 pm
It’s not necessary to go to any great lengths to make the tea baggers look stupid. They do that all by themselves. They are just really rabid fascist morons!
Paulo 977
April 16th, 2010
10:26 pm
Fear has really spawned this entity, the teapartiers ..there is a black president who is going to take all the goodies from the offspring of citizens of the early slave empire that built its economy on the sweat blood and tears of black slaves and give it to these ‘lazy’ offspring of those early workers . This would completely upset the status quo ,wouldn’t it? By the way , the blacks will not be the only beneficiaries of laws being passed by the Obama administration. There is a huge element of society known as ‘white trash’ by these snotty teapartiers who will benefit BUT because of their own racism and ignorance cannot figure out that these bills are being passed to help them as well and they blindly follow these ‘bandits’ and will in all probability vote for them come November!!
SAH
April 17th, 2010
1:12 am
Linda, O’Keefe, and JohnnyReb: You guys are very good at selectively reciting history. Linda, as I remember it, Republicans had taken over Congress by 1995, so you cannot blame anything that happened in Congress between ‘94 and ‘06 on just Democrats. You give credit to the Newt Republicans for balancing the budget, but then blame Dems for mortgage policies. How exactly does that work? Clinton and congressional Repubs deserve credit for balancing the budget. Both parties deserve blame for the current mortgage mess. Yes, many people who could not get mortgages before were able to get them after the affordable housing policies were put into place. However, none of this crisis would have been possible without the repeal of Glass Steagall, which was a Republican initiative (repeal).
Also, the affordable housing policies benefitted poor people, not just minorities. The fact that so many of you want to pin this on minorities says much about your motivations. The vast majority of foreclosures (both in numbers and dollars) are for caucasian homeowners. There just are not enough minority homeowners to create a mess of this magnitude. Furthermore, it was people with middle incomes that caused the bulk of this crisis, not the poor homeowners enabled by Affordable Housing. The problem was middle income folks wanting to buy more than they could afford and getting in over their heads.
I could be wrong, but my firm belief is that the TEA party movement, as well as the Repub party’s drastic swing to the far right, is caused by the election of an African-American President. It is a drastic change from the status quo, and something I never expected to see in my life time, and I am not yet 40. It is a sign that the demographics and ideology of the country have changed more quickly than most of us could have imagined. That being said, he is the legally elected president of this country, and to call him and the Dems in Cogress socialist is simply inaccurate and reeks of xenophobia. No policies passed in the last year and 3 mos can even remotely be accurately labeled as socialist. They passed a stimulus full of tax cuts and healthcare reform that provides insurance companies with millions of new customers. How is that socialist? How is that a gov’t takeover? It simply is not.
SAH
April 17th, 2010
1:25 am
Your anger and passion should be directed at the large banks and corporations that knew what was going on and turned a blind eye to it because the money kept rolling in. They were playing hot potato with debt, it spun out of control, and we all got burned. We need to focus on fixing the problem. We need to focus on making sure it never happens again. Class war and social strife only serve to distract us while the banks and insurance companies tighten their stranglehold on our nation. When we lose our freedom, it will be to Big Money, not Big Government. You guys will keep railing against government and Dems right up until the time some corporate-backed “Conservative” President/Congress takes away the very freedoms you elected them to protect. It started under W. Individual liberties compromised, illegal wiretapping, unlawful search and seizure, character assassination and, in some cases, prosecution of anyone who dared to speak out against W or Cheney: I don’t remember hearing from any of you then.
SAH
April 17th, 2010
1:30 am
BTW – Does anyone, conservative or liberal, really believe that McConnell and the rest of the Repub Senators are standing on principal when they oppose financial reform? I just want to know what you guys think.
Michael H. Smith
April 17th, 2010
6:58 am
However, none of this crisis would have been possible without the repeal of Glass Steagall, which was a Republican initiative (repeal).
SAH, see my April 16th, 2010 9:31 pm comment.
This could have happen without Glass Steagall ( the two separate banking laws of ‘32 and ‘33) which has nothing to do with allowing loan originators to make loans to people who could not legitimately qualify for the mortgage. If you can direct me to exactly where in the Banking Act of 1933 it prevents loan originators from committing fraud then I’ll stand corrected. Till then face reality, whether commercial banking and investment banking are separated or not, until the fraud of non-qualifying loans is separated from these entities (including the rest of my April 16th, 2010 9:31 pm comment) the part of Glass Stegall the Banking Act of 1933 that was repealed by the Gramm–Leach–Bliley Act of 1999 is meaningless for all practice purposes.
One other thought to add concerning the corrupt SEC: This GUB’MENT agency if it cannot be cleaned up needs to be abolished and something else created to take its place that will restore integrity to the system.
Does anyone, conservative or liberal, really believe that McConnell and the rest of the Repub Senators are standing on principal when they oppose financial reform?
Nope, and I don’t think the corrupt Dems are either. Frank and Dodd are corrupt and Goldmen Sachs is one of Obama’s chief contributors.
Michael H. Smith
April 17th, 2010
7:09 am
The Tea Party sure has the Big GUB’MENT socialist-liberals scared, as rightly they should be.
For whatever it is worth Kyle, I agree with the earlier blog comment made to ban the use of the word “teabagger” and any variants of it.
Michael H. Smith
April 17th, 2010
7:33 am
Here ya go Libs: Breyer: Health overhaul could come before court
Justice Stephen Breyer is predicting the Supreme Court will one day pass judgment on this year’s health care overhaul.
Breyer told a congressional panel Thursday that the massive health care law, like most major federal legislation, is a good candidate for high court review.
Breyer said the court’s relatively light caseload in recent years will soon be a thing of the past.
http://www.ajc.com/business/breyer-health-overhaul-could-464763.html
Obviously Justice Breyer sees legal grounds that interests the Court to hear cases brought against ObamaCare.
Anton Zvotney
April 17th, 2010
9:39 am
This, too, shall pass.
3rd Party Guy
April 17th, 2010
9:45 am
The Tea Party should start calling itself the Constitution Party and start selecting/endorsing real candidates for office. In other words, be a real party. Dump the Republican/Democrats, and promote freedom in the USA.
3rd Party Guy
April 17th, 2010
10:05 am
LibraryJim
April 16th, 2010
3:19 pm
That’s the reason those of us who work/want to work are not represented by our politicians. I’m guilty too. The democrats sit at home with entitlements and have all the free time they need to protest and be represented. Meanwhile the republicans just outsource their protesting by hiring lobbyists. Just imagine the working class giving up some their precious free time to demand representation. If the middle class actually demanded good government, they might actually get it.
Voice of Reason 2011
April 17th, 2010
10:10 am
Tea Party members have a right to voice protest as well as they should if they do not agree. However, any movement that obtains its momentum on wicked racist views and racist acts is bound to die and be added to the trash heal of political suicides. The tea party protesters who are not racists should shut up those who are or else they are just as guilty. All movements are judged in history by the righteousness of its adherents. Racists tea party members will only compromise its impact. Unfortunately, racism is so blinding, it will be too late before they realize how they have imploded due to the racism. If this is the case, it will be good for the nation, conservatives, and liberals.
Morrus
April 17th, 2010
10:23 am
Vote out the incumbents and start over
Linda
April 17th, 2010
12:47 pm
SAH@1:12, 1:25 & 1:30AM,
Dems blame Bush for EVERYTHING but you say I can’t blame Clinton for anything that happened after ‘94, yet Clinton BRAGGED in his autobiography for the $800 B in sub-prime loans made under his adm. after ‘94. Read his own words. Clinton signed the Glass Steagall Acct after using it for leverage.
I never used the word “minorities” but rather low- & moderate-income neighborhoods. I didn’t pin this on minorities. The blame was primarily on Dems/Progressives in govt. I also said that the initiatives to reduce the GSEs’ lending standards started a tsunami that included everyone including investors.
The Tea Party movement was not caused by the election of an African-American president but rather by the actions of a socialist president. The Tea Party is made up of all races. The keynote speakers for 2 of the largest GA Tea Parties was an African-American. One of the speakers at a 9/12 meeting I attended was Dr. Deborah Honeycutt, who I have solicited support for on this blog. Obama would never have been elected without the white vote.
The Economic Stimulus Bill that was “full of tax cuts” has to be paid for with higher taxes. The taxpayer earning $50K who received a tax cut of $807 owes $1405 more in taxes to pay for the bill. The taxpayer earning $75K who received a tax cut of $878 owes $1405.
The hc bill that provides insurance for millions of people fines people who don’t buy insurance. Since the fines are less than insurance & insurance companies must cover people with pre-existing conditions, why will anyone ever again purchase policies until they become sick, at the ER?
Americans ARE the corporations. We are the stockholders, the employees, the creditors, customers & clients. If you have a retirement acct., it’s invested on Wall St. If you don’t, you still have to pay taxes & if the retirement accts. for public workers fail on Wall St., you will pay for it.
The health care insurance industry makes a mere 3.3% profit. There’s at least a dozen medical-related industries that make a higher profit than they do. The health care bill will put them out of business.
It was O who said, “We are 5 days away from fundamentally transforming the US of America.”
He’s nationalized the financial sector, Fannie Mae, Freddie Mac, 2 of our 3 auto makers & their financial arms, the health care system, Student Loans, the largest insurance company in the world (AIG) & plans to nationalize our energy system.
dom youngross
April 17th, 2010
12:53 pm
Some people don’t like President Obama because he is half black. Some people voted for Candidate Obama because he was half black. So let’s expose and discredit racism where ever it is found.
I don’t like President Obama because he is twice the war and four times the debt of Bush. I don’t fall for that ‘Bush made him do it’ routine, like President Obama was Ginger Rogers to Bush’s Fred Astaire.
BTW, thank you so much President Obama for letting me keep that extra $10 per week of my own money. Thank you, thank you, thank you, n + 1, to the 52nd power for bailing me out like that, with my own money. At least for last year and this year, as you have determined that it will be too expensive for you to continue to bail me out like that, with my money, after this year.
Linda
April 17th, 2010
12:56 pm
Voice@10:10, John Lewis was offered a $100,000 donation to the Negro College Fund if he or anyone else gave proof that the N-word was used by any Tea Party member toward the Congressional Black Caucus, as he claimed, the weekend the hc bill was passed. Still waiting.
Who was the keynote speaker at the 4/15 Tea Party this year as well as last year? Herman Cain.
Tea Party members don’t “shut up” other protesters. Part of our reason for being is to protect the right of Americans to assemble & speak.
You need to attend a Tea Party. Go on line & find one near you.
Tommy Lee Maddox
April 17th, 2010
1:24 pm
You Distort/We Deride – yep.
Michael H. Smith
April 17th, 2010
1:47 pm
Oh I’ll do a little better than that Linda, I’ve decided to join the movement instead of simply speaking favorably of it in support of what it is doing. One word of advice to Republicans: Don’t try to change the Tea Party, its’ purpose is meant to CHANGE YOU!
Pogo
April 17th, 2010
4:01 pm
Obama is a lightweight marxist tool (as are most who support him). His supporters by and large are lazy and want something for nothing and they want the government to do everything for them. Obama is more than willing to do just that but at the very high cost of the loss of personal freedom and personal rights. Good thing he will be neutered by the november Senate and House elections and be made a lame duck. This will one day be looked upon by history as the worse administration the US has ever had to endure. Carter’s is next and Bush’s will be right behind him.
colin richards
April 17th, 2010
5:22 pm
I can’t believe anyone would want the conservatives back in power after they almost destroyed the country under Bush. Tarp has been almost totally paid back the stock market is up. We are just starting to recover. Big business is funding these Tea Parties. There is shrill screaming against any kind of reform for banks or Healthcare/Pharma. Dick Armey’s (one of the highest paid lobbyists in DC) Freedomworks blankets their message in a ton of flags but the message it the message of big corporations. The Medicines Co. and Bristol-Myers Squibb hired Dick Armey’s lobbying firm, DLA Piper, which in turned controls* is linked to FreedomWorks, the group behind the town hall riots at which “ordinary” citizens shout down anyone who wants to discuss healthcare reform. Regular people cannot afford to pay for the buses, gas, insurance, speakers (including the very expensive Palin) sign and entertainers that you see at TP rallies. Get a clue people. The message of stopping reform is that of Big corporations, no matter how many flags they wrap it in. God bless America and our Commander in Chief, President Barack Obama.
Michael H. Smith
April 18th, 2010
8:59 am
Oh ye of little faith.
"Fed"-Up
April 18th, 2010
9:15 am
Follow the money folks. If you follow the campaign contributions from the Major Wall Street firms, you will find that they give disproportionately to Democrats. This is not to excuse the previous administration, but who was controlling congress before and during the meltdown? ->DEMS!
Michael H. Smith
April 18th, 2010
9:39 am
Conservatives don’t excuse the previous administration headed by a liberal George Bush and the “Libertarian Neo-Republicans” who spent tax payer money like drunken socialist Democrats.
However, it is very interesting to note that among “Comrade in Chief ” Dear Leader Obama’s major contributors it does tend to read like a Wall Street who’s who list.
Goldman Sachs $994,795
Citigroup Inc $701,290
JPMorgan Chase & Co $695,132
UBS AG $543,219
Morgan Stanley $514,881
http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00009638
"Fed"-Up
April 18th, 2010
11:00 am
Most of the Financial Industries (Banking, Brokerage, Wall St,.etc) in this country give about 55% to Dems and about 45% to Republicans.
Paul Revere
April 18th, 2010
12:07 pm
Corrupted Government ministers, congressmen, senators that seems to be the habit of the times lately! It is well passed the time to clean up the crap on both the Establishment Left and Right in all countries! Reflect the seriousness of our corrupt politicians, look at what has happened in Poland, look at the corruption in Greece, Iceland and the USA, it is right in front of our face!
There is a problem our laws, courts and lawmen only seem to be able to arrest, charge and convict ordinary law abiding citizens!
Should you have super wealth and position we are being shown that these tyrants are above the law, is that the kind of Fascist country Americans’, Canadians’ and the world desire?
Take a look at this brand new video that tells all and illustrates just exactly what is occurring in the upper Echelons of the Political Wealth Mafia!
Re: Here is a powerful NEW documentary for you, which will put the final nail in the coffin of any doubts that a dictatorial elite is openly setting up an authoritarian system of world government designed to concentrate power and crush the freedom and living standards of the middle class.
Film maker Jason Bermas has collected a truly monumental amount of video archive and document material to render completely obsolete claims that the agenda of today’s ruling elite is not the open move towards a global totalitarian world government which will be run to the detriment of the people in the self-interests of the tiny ruling class that sit atop the power pyramid.
Invisible Empire 1 of 16
http://www.youtube.com/watch?v=FKJuyti1YjU
Nick
April 18th, 2010
5:38 pm
Restore America: Tax Exempt 2010
http://www.youtube.com/watch?v=ZGa7Yv01ZL0
vuduchld
April 18th, 2010
9:46 pm
Tea Begging and Tea Beggers have run it’s course. At the end of the day your “party” has become a lap dog shill for the G no P. The ideas you have are bogus because most of you in the movement are bogus human beings. Where were you when the Bush tax cuts poured in, or how about Iraqi War fever when you pilgrims gave Bush a blank check to fund a war based on the WMD hoax. Now all of a sudden you hypocrites got religion because an African-American occupies the oval office. Well, me and others out there are not drinking the Tea Begger Kool-Aid because at the end of the day you people are what you have always been, a bunch of yellow, shallow no nothing hypocrites. Yet again you have been exposed, that is why you silly party is going on where…PERIOD.
No More Progressives!
April 18th, 2010
10:31 pm
Brad Steel
April 16th, 2010
3:47 pm
The word “nobody” it the cartoon should be replaced with “the tea party”.
The Tea Party doesn’t seem to understand much of anything. But I will hand’em this: they are real good at making home-made signs.
This statement infers that you do understand the Tea Party.
So educate us, Oh Great Sage: what is it we’re missing?
No More Progressives!
April 18th, 2010
10:40 pm
vuduchld
April 18th, 2010
9:46 pm
“Well, me and others out there are not drinking the Tea Begger Kool-Aid because at the end of the day you people are what you have always been, a bunch of yellow, shallow no nothing hypocrites.”
Good. I want you and all four of your friends to go to some socialist utopia and call us periodically to let us how you’re doing.
“All legislation will be posted on-line for 48 hours so you can read it.”
“I’ll go through every bill, line by line, and remove every earmark.”
“All the healthcare debates will be on CNN.” …………ad nauseum.
From the Hypocrite-in-Chief, Little Barry Soetoro.
Garry Owen
April 19th, 2010
5:53 am
Why am I upset? We won our independence from England thanks to many, many brave men. Now we have a government that wants to turn this country back into the very thing these brave men faught against! God bless the late great American Republic.
Port O' John
April 20th, 2010
10:52 am
Oh the hypocrisy: Christian Tea-bagger who advocates throwing bricks through the windows of democrats in protest of health-care lives off of government disability checks:
http://www.washingtonpost.com/wp-dyn/content/article/2010/03/25/AR2010032501722_2.html?sid=ST2010032402500
Robert Littel
April 25th, 2010
10:45 am
The Fox News created, corporate financed, Right-wing talking point driven celebration of inanity known as the Tea-Party, is an organization of people who are so fear driven and politically unsophisticated that they have been convinced to take up the corporate mantra for smaller and less government, which will only make corporations stronger and more able to steal from them. The government, if purged (through election) of corporate influence, is the best hope the middle-class and the poor have to not end up being pawns, or worse, in a corporate feudal system, where their view of the function of government is to provide a military for resource wars (that the children of the rich do not fight) for corporate benefit, with prisons and police to keep corporate order. Outside of that, and road building, that will be all we have left if the Right gets its way, and they are counting on the bulk of Americans to be either too stupid to see it, or too disinterested or distracted to care, by conning them with simplistic dogma and flag waving manipulation of societal myth. The Tea Party movement is a bad joke, on themselves.
No More Progressives!
May 1st, 2010
7:46 pm
Well, look who’s here, Perfezor Huffnpuff. Where ya been, Perfezor? Indoctrinating another classroom of little Comrades?