FB: Liberty League

[mattvsmith]

TGP, et al.,

Another one for your edification:

http://www.nypost.com/seven/02052008/postopinion/opedcolumnists/the_real_scandal_243911.htm?page=0

(The Rev is not posting this to pick on TGP.  The Rev really thinks it's an interesting essay.)

BTW, Is Stan Leibowitz any relation to Fawn Leibowitz of Ft. Wayne, Indiana?

[mattvsmith]

Very funny Rev.

Well, The Rev had to post at least one football related post this year.

[PBR...]

Interesting news on Romney bailing out.  Pretty much gives McCain the nomination in my opinion.  Can't see Huck giving a serious run.

Good article in today's LA Times re: McCain getting the "Cold Shoulder" from the conservative side of the GOP:

http://www.latimes.com/news/politics/la-na-right7feb07,0,3931058.story

Huckaphony was only in it to take away votes from Romney.  He's had a back door deal with McCain for 6 weeks or more.  Huck started attacking Fred Thompson then Romney, but never really attacked McCain. 

I'll never vote for a Marxist like Clinton or Obama, but McCain has a lot of work to do to get me to like him again.

just for you JT here are pbr's heroes....

   +     

[Regulator]

TGP, et al.,

Another one for your edification:

http://www.nypost.com/seven/02052008/postopinion/opedcolumnists/the_real_scandal_243911.htm?page=0

(The Rev is not posting this to pick on TGP.  The Rev really thinks it's an interesting essay.)

BTW, Is Stan Leibowitz any relation to Fawn Leibowitz of Ft. Wayne, Indiana?

Rev,
[rant]
This whole mortgage thing has benn beaten to death worse than the LLPP equivilent "If you go to Union, you will be pumping my gas" topic. (although, Reg still snarfs at that one)

While it was an interesting essay, Reg just wishes the finger pointing would stop already.

Let's see who has been blamed so far
-mortgage brokers putting buyers in bad ARM's
-investors for getting in too deep
-individuals who knew they couldn't pay in 5 years, but still bought
-individuals that don't pay their credit card bills, let alone a mortgage
-individuals buying so they could "make money while the market is hott"
-lenders, for turning a blind eye on the ability to pay long term (since values were going up so fast)
-appraisers appraising the ISH out of houses (maybe more so during refi)
-the housing market, for inflating so quick noone caught on that this was happening
and now- the gov't for loosening the standards
-the greenlining institute who pressed this while redlining mirage....redlining??  uhh....no guys, they are just numbers, you really can't afford it....fast forward 5 years>>>>> SEE?

When does this ish end?  [/rant]

[PBR...]

hold on reg part deux is coming...

     Feb. 7 -- Deutsche Bank AG Chief Executive
Officer Josef Ackermann said rating downgrades for bond insurers
pose risks that could match the U.S. subprime market collapse.
     ``It could be a tsunami-like event comparable to subprime,''
Ackermann said in a Bloomberg Television interview in Frankfurt
today. Deutsche Bank, Germany's biggest bank, is ``well
positioned'' on its risk from bond insurers, he said.
     Bond investors stand to lose $200 billion should MBIA Inc.,
Ambac Financial Group Inc. and Financial Guaranty Insurance Co.
forfeit their AAA grades because of declines in mortgage-backed
securities they insure, according to data compiled by Bloomberg.
Ratings on $2.4 trillion of debt that the industry guarantees
would be thrown into doubt.
     Banks and securities firms have already reported credit
losses and writedowns of $146 billion. Downgrades of the bond
insurers may force financial firms to write down a further $70
billion.

bottom line....stuff you money in your mattress....

[JT]

Interesting news on Romney bailing out.  Pretty much gives McCain the nomination in my opinion.  Can't see Huck giving a serious run.

Good article in today's LA Times re: McCain getting the "Cold Shoulder" from the conservative side of the GOP:

http://www.latimes.com/news/politics/la-na-right7feb07,0,3931058.story

Huckaphony was only in it to take away votes from Romney.  He's had a back door deal with McCain for 6 weeks or more.  Huck started attacking Fred Thompson then Romney, but never really attacked McCain. 

I'll never vote for a Marxist like Clinton or Obama, but McCain has a lot of work to do to get me to like him again.

just for you JT here are pbr's heroes....

   +     

Funny.  Although I don't like his politics, you have to respect Obama.  JT hates anything Clinton.  He blames them for 9/11, reduction of the military, and the majority of our Middle East problems.  He's also tired of the two decade rule of the Bushes and the Clintons.

You can stick a lot of ish on the Clintons, cause they lie/spin everything, but Obama pretty much admitted to any ish, like trying blow, at 14 in his book.  Bill Clinton already dropped the race card by comparing him to Jessie Jackson, and it blew up in their faces.  If the Clinton's could find more ish they'd have dropped it already.

Obama's also got the web 2.0 fund raising down, all the college students (liberals in training) are falling all over themselves supporting this guy.  Both of the candidates could hit the convention w/o enough delegates to win.  This is gonna be bloody.

[PBR...]

interesting article yesterday that obama's campaign emailed out by accident said that obama's campaign managers project a dead heat between him/hillary....interesting question is since michigan and floridas delegates werent counted this year due to them moving up the election...obama respected dem's rules and didnt put his name on the ticket but of course ol' hill did and obviously won the states eventhough she didnt get any delegates...question arises do they count those 2 states which would take some legal wrangling which the conspiracy theorist in me says the clintons will do or the dem. party orders a run off again....interesting stuff whether your repub/dem or any other party affiliate as this has never happened in pbr's lifetime...pbr does agree w/ you in that he is tired of bushies/clinton's time for some new blood...mayor mike for prez!!

[mattvsmith]

Rev,
[rant]
This whole mortgage thing has benn beaten to death worse than the LLPP equivilent "If you go to Union, you will be pumping my gas" topic. (although, Reg still snarfs at that one)

While it was an interesting essay, Reg just wishes the finger pointing would stop already.

Let's see who has been blamed so far
-mortgage brokers putting buyers in bad ARM's
-investors for getting in too deep
-individuals who knew they couldn't pay in 5 years, but still bought
-individuals that don't pay their credit card bills, let alone a mortgage
-individuals buying so they could "make money while the market is hott"
-lenders, for turning a blind eye on the ability to pay long term (since values were going up so fast)
-appraisers appraising the ISH out of houses (maybe more so during refi)
-the housing market, for inflating so quick noone caught on that this was happening
and now- the gov't for loosening the standards
-the greenlining institute who pressed this while redlining mirage....redlining??  uhh....no guys, they are just numbers, you really can't afford it....fast forward 5 years>>>>> SEE?

When does this ish end?  [/rant]

The Rev is actually most sympathetic toward the major corporations like Countrywide and other mainline mortgage companies who would have gone under had they not participated in the boom, but may go bankrupt because they did participate in the boom.  A lose-lose situation out of which they have to try to salvage a win.  I hope Countrywide survives if only because The Rev wants his friend (TGP) to keep his job, and because The Rev wants to buy a house in about six to twelve months and a recovered Countrywide can help make it happen.

This was like a steamroller without a driver.  At this point, we ought to examine and clean up the destruction rather than try to find the people who put the steamroller on its course.

The Rev's worry now: any economic stimulous package that comes out of D.C. will be severely flawed not only in tis details but at its very core.  Sort of like smearing cow manure on an open wound.

Let's say this turns into a replay of Japan in the 1980's: The Rev is confident that everyone here in LLPP will survive the fallout.  in the meantime, here's a photo of a dood paying $6 million Zimbawean dollars for lunch.

[Regulator]

I see the benefit of the stimulus package (no matter how flawed it may be) is that it gets the media talking about something different then how bad our economy is.

Why can't Bush pull some high level media exec's in and ask them to spin this in a positive manner, so people feel more comfortable spending money.  Right now the media has everyone so scared, that people aren't spending at all.  Last week, Reg went to purchase some laundry detergent and the stocker told me to "hold onto my money, just turn them inside out"

[Knightstalker]

Good thing KS has been burying coffee cans and mason jars in the backyard for years.

[JT]

interesting article yesterday that obama's campaign emailed out by accident said that obama's campaign managers project a dead heat between him/hillary....interesting question is since michigan and floridas delegates werent counted this year due to them moving up the election...obama respected dem's rules and didnt put his name on the ticket but of course ol' hill did and obviously won the states eventhough she didnt get any delegates...question arises do they count those 2 states which would take some legal wrangling which the conspiracy theorist in me says the clintons will do or the dem. party orders a run off again....interesting stuff whether your repub/dem or any other party affiliate as this has never happened in pbr's lifetime...pbr does agree w/ you in that he is tired of bushies/clinton's time for some new blood...mayor mike for prez!!

And this whole thing was supposed to be a cakewalk for Hillary.  It must be driving her crazy.

[Knightstalker]

KS is thinking of writing himself in for President.  KS is old enough to be President and would try to hold office long enough for Reg to turn 35, then KS thinks Reg should run for President as the representitive of the LLPP Party.

[Regulator]

With the way things work in this great nation, Reg thinks that the 2012 election winner will campaign solely on MySpace, YouTube, FaceBook, Text message and 60 minutes to pull out the win, hitting the entire nations key demographics

[mattvsmith]

With the way things work in this great nation, Reg thinks that the 2012 election winner will campaign solely on MySpace, YouTube, FaceBook, Text message and 60 minutes to pull out the win, hitting the entire nations key demographics

The candidates better make a good showing on LLPP or else they won't get The Rev's vote.

[superman57]

KS is thinking of writing himself in for President.  KS is old enough to be President and would try to hold office long enough for Reg to turn 35, then KS thinks Reg should run for President as the representitive of the LLPP Party.

here here