Yeah, I’ve been totally against that. It’s just another delayed present
from the Clinton era; the one that keeps on giving, trouble.



I’ve had many discussions with various folks in financial circles about
this, some even outside this country and it seems, it’s one of those manure
sandwiches that has to be consumed; the consequences of not doing this are
in a word, massive. The government should never have gotten in to the home
mortgage business nor should it have relaxed (read eliminated) rules and
oversight of these organizations in the late 1990’s, but there we are.
(Sigh.) The problem with government is that when it launches a new program,
this program only grows and becomes more expensive. I would love to see
some programs eliminated or at least reduced. But in this respect both
Democrats and Republicans are guilty, the difference being that Republicans
are punished by their voters when they do this, whereas the Democrats are
rewarded by their voters.



Denys...

From: Heasman, David [mailtoavid.Heasman@schroders.com]
Sent: Monday, September 08, 2008 4:53 AM
To: Denys Beauchemin; HP3000-L@RAVEN.UTC.EDU
Subject: RE: [HP3000-L] OT: McCain's Running Mate communism and - heavens -
an ISSUE!



How bizarre, then, that the communist government of the USA is
nationalising banks. Supported by
both communist presidential candidates.

Here's what Izvestia, aka the NY Times thinks -

Over the years, Fannie Mae and Freddie Mac showered riches on many
winners: their executives, Wall Street bankers and Washington lobbyists. Now
the foundering mortgage giants are leaving some losers in their wake,
notably their shareholders, rank-and-file employees and, in the worst case,
American taxpayers.

What can you expect but class-warfare and proletarian bile from the
workers' collective that runs the grimy NYT though?


Here's what Jim McTague thinks -

THE 2008 REPUBLICAN PLATFORM RELEASED at the party convention in St. Paul
last week is a grandiloquent document, replete with Reaganesque calls for
lower taxes, smaller government, and greater self-reliance. An honest
librarian would file it in the fiction section.

I'm not a naïf. I appreciate that searching for candor among politicians is
about as productive as shopping for a Rolex at the corner drugstore. All
politicians make promises that they never intend to keep. You generally can
wrest a straighter answer from 16-year-old teenager intent on deceiving you
than you can from a campaigning politician.

Even so, this GOP document is so divorced from reality that it approaches
parody. The authors should have penned the document in cuneiform, because it
describes an ancient GOP, not the party of today.

One of the platform's most monumental political principles is daily being
trampled upon by the Bush administration, with the acquiescence of most GOP
members of Congress. This is contained in a section devoted to the housing
crisis that declares, "We do not support government bailouts of private
institutions. Government interference in the markets exacerbates problems in
the marketplace and causes the free market to take longer to correct itself.
We believe in the free market as the best tool to sustained prosperity and
opportunity for all..."

Democrats are depicted as the party of big, intrusive government, willing to
"ignore fiscal problems while squandering billions on ineffective programs."
The GOP, however, has no moral legs to stand on when it hurls such insults.

The Bush administration has bailed out Wall Street, and stands ready to bail
out mortgage giants Fannie Mae and Freddie Mac -- in the process abetting a
slide into more intrusive government. If we are headed down the road to
socialism, then the GOP can be credited with setting the pavers.





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* etc., please visit http://raven.utc.edu/archives/hp3000-l.html *

Naughty naughty government; FM & FM were spending $100 million p.a. on
lobbyists. At least that will be saved now.

But they should have gotten in to the business in the 1930s; once again
the costs of not doing so were unthinkable, and, as Churchill said,
after trying everything else, Roosevelt did the right thing.


-----Original Message-----
From: Denys Beauchemin [mailto:denysb@comcast.net]
Sent: 08 September 2008 14:23
To: Heasman, David; HP3000-L@RAVEN.UTC.EDU
Subject: OT: McCain's Running Mate communism and - heavens - an
ISSUE!



...The government should never have gotten in to the home
mortgage business nor should it have relaxed (read eliminated) rules and
oversight of these organizations in the late 1990's, but there we are.
(Sigh.)...





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