For the longest time, the falsely inflating real estate market kept the banks making these loans afloat until the bubble finally burst.  Prices of the real estate they had as collateral collapsed and they couldn’t lend any more money because they didn’t have the assets to back up the loans.

Also remember that the fat cats in DC were getting special mortgage deals themselves from Freddie and Fannie so they had plenty of incentive to keep the cash flowing in their direction.  If the swamp of DC ever was drained like Pelosi falsely claimed she was going to do, a lot of dirty DC’ers would be found in the muck.

Fannie Mae had a loss of $1.2 billion in the second quarter, compared with a loss of $14.8 billion in the same period a year earlier, it said today in a filing to the Securities and Exchange Commission. The Washington-based company posted more than $147 billion in losses in the preceding 11 quarters, according to data compiled by Bloomberg.

The Treasury Department seized Fannie Mae and McLean, Virginia-based Freddie Mac, the biggest sources of U.S. mortgage funding, in September of 2008 and has spent $145 billion already to keep them solvent. In April, the Treasury and Department of Housing and Urban Development asked for public comment on how to fix the funding system after the companies’ losses on subprime mortgages pushed them to the brink of collapse.

via Fannie Mae Seeks $1.5 Billion From U.S. Treasury After 12th Straight Loss – Bloomberg.

As the midterm election season approaches, new road signs are popping up everywhere – millions of dollars worth of signs touting “The American Reinvestment and Recovery Act” and reminding passers-by that the program is “Putting America Back to Work.”

A look at where the stimulus money is going.

On the road leading to Dulles Airport outside Washington, DC there's a 10' x 11' road sign touting a runway improvement project funded by the federal stimulus. The project cost nearly $15 million and has created 17 jobs, according to recovery.gov.

However, there's another number that caught the eye of ABC News: $10,000. That's how much money the Washington Airports Authority tells ABC News it spent to make and install the sign – a single sign – announcing that the project is “Funded by The American Reinvestment and Recovery Act” and is “Putting America Back to Work.” The money for the sign was taken out of the budget for the runway improvement project.

ABC News has reached out to a number of states about spending on stimulus signs and learned the state of Illinois has spent $650,000 on about 950 signs and Pennsylvania has spent $157,000 on 70 signs. Other states, like Virginia , Vermont , and Arizona do not sanction any signs.

via Millions for Road Signs?: That’s Stimulating? – ABC News.

Besides raising the retirement age for full Social Security benefits to 70 for people now 50 or younger, Mr. Boehner suggested curbing benefit growth by tying cost-of-living increases to the consumer price index rather than growth in wages, and providing benefits only to those who need them.

“If you have substantial non-Social Security income while you're retired, why are we paying you at a time when we’re broke?” he said. “We just need to be honest with people.”

via Both parties mull raising retirement age – Washington Times.

First the “we are broke” argument doesn’t cut it.  We are broke because they stole money from Social Security to buy votes by spending it on other things unrelated to SS.  In any corporation if you did this you would be put in jail, yet our government has been doing it for years and calling it legal!  BS!

The second argument of not paying people just because they planned better than other people is just as bogus!   Why should anyone be required to pay an insurance premium only to be told upon maturity that they planned too well outside the plan so they aren’t eligible?  It’s ridiculous!

How do these people still have jobs?  Oh wait, they are using this money to buy votes, I almost forgot.

We can’t afford to continue to let this go on.  We have to take back Washington.  We need more Jim DeMint style senators and representatives who aren’t willing to trade their morals for money or political victories.  We can’t continue to send the likes of Hoyer, Boehner, and the rest back up there to spend without regard for our future and the future of our kids.  If you want to do something about it then do it.  Vote them out!

The rush to recess gives Democrats little time to pass any major laws. That’s why there have been signs in recent weeks that party leaders are planning an ambitious, lame-duck session to muscle through bills in December they don’t want to defend before November. Retiring or defeated members of Congress would then be able to vote for sweeping legislation without any fear of voter retaliation.

Hide your money!  They’re going to get every penny of it they can find come January 2011!

This is just the kind of thing that makes people despise politicians.  They do sneaky stuff like this trying to get their last hurrah before they get their asses kicked out.  If you want real reform, make any legislation passed by lame duck sessions be taken up and voted on without changes by the incoming congress.

You can also look at the sickening presidential pardons like those committed by Clinton as evidence of their lack of respect for the American people they are supposedly representing.

Paychecks from private business shrank to their smallest share of personal income in U.S. history during the first quarter of this year, a USA TODAY analysis of government data finds.

At the same time, government-provided benefits — from Social Security, unemployment insurance, food stamps and other programs — rose to a record high during the first three months of 2010.

Now tell me this isn’t socialism.  The private sector is disappearing quickly under Obama, while the government’s role in upkeep of the public is growing.

Lawmakers want to increase the current 8-cent-a-barrel tax on oil to make sure there is enough money available to respond to oil spills. At least 6 million gallons of crude have spewed into the Gulf of Mexico since a drilling rig exploded April 20 off the Louisiana coast.

President Barack Obama and congressional leaders have said they expect BP to foot the bill for the cleanup.

OK so which is it?  Is BP going to pay for it or is the tax going to be used to pay for the cleanup?  The fact is, the tax increase has nothing to do with the oil spill other than it gives the Obamanation another excuse to raise taxes.

If there’s an oil spill, make those who caused it pay to clean it up.  If they were negligent in causing it, fine them on top of it. End of story. NO NEW TAXES.

Do you really think that the government is going to let that money just sit there unused?  Of course not.  They need it for more vote buying schemes like the healthcare scam.  Just look at how broke social security is.  Why? Because Congress just couldn’t stand to see all that money sitting there waiting for those who paid it in to claim it when they (Congress) could spend it to buy votes.

The list below shows those who put buying votes ahead of doing what’s right.  They no longer deserve to hold their respective offices.  It’s up to you, citizens, to fire them if you wish to regain control of your government and your money.  The decision is yours.  Now make it.

Fifteen Republican Senators voted against Jim DeMint’s measure to ban earmarks in the Senate.

Those fifteen were:

1. Alexander (R-TN)
2. Bond (R-MO)
3. Bunning (R-KY)
4. Cochran (R-MS)
5. Collins (R-ME)
6. Gregg (R-NH)
7. Hutchison (R-TX)
8. Inhofe (R-OK)
9. Lugar (R-IN)
10. Murkowski (R-AK)
11. Roberts (R-KS)
12. Shelby (R-AL)
13. Snowe (R-ME)
14. Voinovich (R-OH)
15. Wicker (R-MS)

Senator Bob Bennett, who denounced the measure to a RedState contributor, did not vote at all.

Fact: Nearly 10 million (9.7) of the 45.7 million uninsured are “not a citizen.” That makes every media claim of uninsured Americans higher than 35.9 million is wrong.

Myth: The 40 million to 50 million uninsured cannot afford health insurance.

Fact: More than 17 million of the uninsured make at least $50,000 per year (the median household income of $50,233) – 8.4 million make $50,000 to $74,999 per year and 9.1 million make $75,000 or higher. Two economists working at the National Bureau of Economic Research concluded that 25 to 75 percent of those who do not purchase health insurance coverage “could afford to do so.”

Myth: The 40 million to 50 million uninsured do not get health care.

Fact: The National Center for Policy Analysis estimates that uninsured people get about $1,500 of free health care per year, or $6,000 per family of four.

Fact: An Urban Institute study found that 25 percent of the uninsured already qualify for government health insurance programs.

Myth: People will remain uninsured without government assistance.

Fact: The Congressional Budget Office says that 45 percent of the uninsured will be insured within four months. CBO Director Douglas Holtz-Eakin also said that the frequent claim of 40+ million Americans lacking insurance is an “incomplete and potentially misleading picture of the uninsured population.”

Fact: Liberal non-profit Kaiser Family Foundation put the number of uninsured Americans who do not qualify for government programs and make less than $50,000 a year between 8.2 million and 13.9 million. (The 8.2 million figure includes only those uninsured for two years or more.)

Fact: CBO analysis found that 36 million people would remain uninsured even if the Senate’s $1.6 trillion health care plan is passed.

(CNN) — The government is delaying legal action against Pennsylvania landowners who haven’t yet agreed to sell their land for a memorial to victims of United Airlines Flight 93 on September 11, 2001, federal officials said Friday.

The government has been negotiating with several landowners since 2003 in an effort to purchase their properties near Shanksville where the hijacked jet crashed into a field, killing everyone aboard.

If final efforts at negotiations are unsuccessful, officials intend to use eminent domain to acquire the property. That right allows governments to take private property for public use without an owner’s consent, after paying a fair price for the land.

The government is seeking to buy 166 acres in western Pennsylvania to complete the area needed to build a memorial on 2,200 acres.

That’s right.  The government is planning on buying, with our money, 2,200 acres to build a memorial to airline passengers killed in a terrorist act.  I’m sure glad that my tax money is being spent wisely, aren’t you?  On top of that, they are going to FORCIBLY take the land if the rightful owners won’t sell.  Feeling better about your government now?

Even the Russians see what Americans won’t.  If this doesn’t wake you up, nothing will and from the l0oks of it.  Nothing will.

Then came Barack Obama’s command that GM’s (General Motor) president step down from leadership of his company. That is correct, dear reader, in the land of “pure” free markets, the American president now has the power, the self given power, to fire CEOs and we can assume other employees of private companies, at will. Come hither, go dither, the centurion commands his minions.

So it should be no surprise, that the American president has followed this up with a “bold” move of declaring that he and another group of unelected, chosen stooges will now redesign the entire automotive industry and will even be the guarantee of automobile policies. I am sure that if given the chance, they would happily try and redesign it for the whole of the world, too. Prime Minister Putin, less then two months ago, warned Obama and UK’s Blair, not to follow the path to Marxism, it only leads to disaster. Apparently, even though we suffered 70 years of this Western sponsored horror show, we know nothing, as foolish, drunken Russians, so let our “wise” Anglo-Saxon fools find out the folly of their own pride.

Again, the American public has taken this with barely a whimper…but a “freeman” whimper.

So, should it be any surprise to discover that the Democratically controlled Congress of America is working on passing a new regulation that would give the American Treasury department the power to set “fair” maximum salaries, evaluate performance and control how private companies give out pay raises and bonuses? Senator Barney Franks, a social pervert basking in his homosexuality (of course, amongst the modern, enlightened American societal norm, as well as that of the general West, homosexuality is not only not a looked down upon life choice, but is often praised as a virtue) and his Marxist enlightenment, has led this effort. He stresses that this only affects companies that receive government monies, but it is retroactive and taken to a logical extreme, this would include any company or industry that has ever received a tax break or incentive.

The Russian owners of American companies and industries should look thoughtfully at this and the option of closing their facilities down and fleeing the land of the Red as fast as possible. In other words, divest while there is still value left.

The proud American will go down into his slavery with out a fight, beating his chest and proclaiming to the world, how free he really is. The world will only snicker.

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