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Name:	Maverick -	Reply
Subject:	Here are Some Loaded Questions
Date:	9/18/2008 9:48:10 PM

I have read a lot of the back and forth regarding McCain and Obama, etc etc. I am not saying I am voting for McCain or Obama as the below has nothing to do with either of them or their parties.

Now, answer the following questions, each of which has had a major impact on our current economy and future economic outlook.

- Who is responsible for the current housing situation (market prices, foreclosure rates, Freddie Mac and Mae)?

- Who is responsible for the current matters surrounding the US financial markets (Bank and Investment banking firms)?

- Who is responsible for the current and future gas prices?

- Finally, who is trying to stabilize the above and I can assure you if such creative interventions were not instituted the current economy would be a heck of a lot worse?

Name:	dvine -	Reply
Subject:	Here are Some Loaded Questions
Date:	9/18/2008 10:14:49 PM

Very simple, the democrat congress.

Name:	water_watcher -	Reply
Subject:	Easy answer
Date:	9/19/2008 7:17:52 AM

It is a known facts that the republicans tried to reform Fannie and Freddie quite some time ago and specifically McCain sponsored a bill and put on public record warnings as to what could happen (and it did) if the reforms were not implemented. The democrats and specifically Obama blocked that bill and Obama spoke out against it. This will come out in the debates. Why did Obama want to block it ... he had gotten $90,000 in contributions. The ex CEO of Fannie is now his senior financial advisor.

Part of the housing crisis is the sub prime loans ... again the democrats pushing for lower requirements to make home ownership responsible for all.

The investment bank issue is related to the sub-prime that was driven by greed. the ones that are surviving this are the ones that saw this would eventually implode.

All I can say is that this country is fortunate that Bush selected Hank Poulsen as treasury secretary. We had some very scary momments early this week and he master minded and managed the situation very well.

The coordination was not just in the US but all world banks as to what needed to be done. World markets were up 8-10% over night. We should see another strong rally on wall street today (hopefully).

And for the pesimist that it does not effect you ... whether you invest in the market or not it effects you. If you are not smart enough to understand why, then it is probably why you are voting for Obama.

Name:	water_watcher -	Reply
Subject:	Forgot Gas Prices
Date:	9/19/2008 7:26:47 AM

You only have to look at who is opposing drilling as to who is responsible for higher gas prices (democrats).

For those that say more drilling will not produce immediate supplies are 100% correct. But we need to start somewhere. We are importing 70% of the oil we not use and have more reserves than the middle east. We send $700 million a year out of this country that should be staying here and invested here.

By just approving drilling oil prices will fall because the producing countries will want to reduce the incentive to drill so we keep buying from them.

I am one that agrees with alternative fuels, CNG is plentiful and most in the US ... that can be quick .... hyrogen is unlimited and very environmentally positive (tail pipes drip water and water vapors). Hydrogen cars have been proven and the cost is resonable and would come down with mass production. The only issue is a delivery system to make it available. That actually is what governemnt can do to help.

One idea is to say to oil companies we will open up drilling in these areas, but then set time lines to also install hydrogen delivery systems. That way smart oild companies would get on the band wagon for the transition as oil use declines and hydrogen increases.

Name:	SPEARFISHER -	Reply
Subject:	Forgot Gas Prices
Date:	9/19/2008 10:10:55 AM

Those really are some good ideas!!

Name:	want2beonlake -	Reply
Subject:	Here are Some Loaded Questions
Date:	9/19/2008 4:00:31 PM

you should have known how the responses were going to be as you were typing out the questions.

The Republicans have never done anything wrong and never will.

The Democrats are the root of all ill that has befallen our country...

It does little good to point out the error in their thinking - even when you show them in black and white how they are wrong they continue to just attack, say your don't believe in God, are not a patriot, want socialism... blah, blah, blah - it is a broken record.

If it wasn't so sad it would be comical...

Name:	water_watcher -	Reply
Subject:	You are right
Date:	9/19/2008 4:34:45 PM

For once you are right. They totally ignored the signs in the housing market when it could have been fixed with the bill McCain was co-sponsor. Read what Barney Frank said ... he was still worried about making more bad loans to people that could not afford them. Not every one deserves credit. When I bought my first house they required 20% down. You saved if you wanted it. They were giving no down payment loans, interest only (betting housing prices would only go up), even some we will pay you and charge negative amortization. Really crazy stuff.
.
As for oil .... the only one that does not want to drill is your boy Obama and the liberal democratic party. Lets all hug a few more trees and worry about polar bears and the spotted owl.
.
What did the democrats give us since they have control of congress ... a mandate to convert to compact floresent light bulbs that are only made in CHINA. Oh that is just great, eliminate a few more jobs and increase our imports.

That my friend are the FACTS ... deal with them. !

Name:	MartiniMan -	Reply
Subject:	Here are Some Loaded Questions
Date:	9/19/2008 6:35:55 PM

- Who is responsible for the current housing situation (market prices, foreclosure rates, Freddie Mac and Mae)?

Very complex answer to this question. Home prices and the speculation was primarily driven by a combination of cheap money (The Fed) and the existence of Freddie/Fannie freeing up cash for originators to make more loans than they ordinarily would (facilitated by the implied govt guarantee). Both Democrats and Republicans have had a hand in this. Government is the problem, not the solution.

- Who is responsible for the current matters surrounding the US financial markets (Bank and Investment banking firms)?

These firms bought the paper issued by Fannie and Freddie and when home prices began to go down the gig was up. In this case greed fueled by government intervention in a free market system. If home prices stabilize then this crisis will pass.

- Who is responsible for the current and future gas prices?

Part of it is due to the Fed allowing the dollar to weaken (oil is benchmarked against the dollar so a weaker dollar means more expensive oil) and demand in developing countries (China, India, etc.). What is more disturbing for us is not just the price per barrel. Even with the increase in gas prices the economy has done OK, not great. Our getting 70% of our oil from international sources is my biggest concern. That in my view is squarely caused by Democrats and weak-kneed RINOs that have been cowed by environmental wackos preventing domestic production. While China explores for oil off the coast of Florida we can't. And the current bill introduced by Pelosi is an insult to our intelligence. It frees up 10% of offshore which just so happens to be the most expensive to develop and least productive. It will be of no help and is a political stunt that Bush will be forced to veto.

- Finally, who is trying to stabilize the above and I can assure you if such creative interventions were not instituted the current economy would be a heck of a lot worse?

My final pitch that government is not the solution, it is the problem. That is why I prefer conservatives over liberals and big-government types. At this point in time, more Republicans are fiscally Conservative and Obama/Pelosi/Reid's prescription for the current problem is exactly the wrong idea.

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