Congressman Burgess,
I am writing this to implore you to vote against the the Mortgage Company Bailout legislation.
I admit that I do not have all of the information. I have not actually seen the text of the proposed legislation. (If you could let me know where to read that material, I would love to.)After much consideration of the arguments that I have listened to, I believe that this would be very bad for the country. I cannot see how any good could come of spreading the losses because of bad business decisions to the nation's taxpayers.
I firmly believe that this is the mess left by Bill Clinton and the Democrats in coercing Fannie Mae and Freddie Mac into making loans to individuals or families that would not be repaid. If the officers and employees of these companies had been left alone by the government, they would not have loaned money to low income people. The bad loans that the government seeks to buy would have never been made. The government does not need to be in the mortgage business. When we let the socialistic liberal element dictate policies to private business that are otherwise against sound business judgement, we inevitably end up with the mess that we seem to have in this case.
We should let the free market take this over, and if the businesses fail, then we should allow the vacuum to be filled by businesses that can make sound business decision. I know that this is a huge issue, and I sympathize with the decision makers that must fix this.
Like any dying person or entity, those closest to it must simply decide that there is a time to let go and let nature take its course.
As my representative in government at the federal level, the next step wouold be to do all in your power to stop the liberal contingent from forcing the same business errors that the Clinton administration caused in the '90's.
I understand that the proposed bill has a fair amount of pork barrel spending that would allow many individuals to profit mightily.
What is ACORN, and why does the bill send tens of millions of dollars into this entity?
From what I understand, this alone amounts to a misapplication of funds by the federal government.
We have a problem, let us not compound it by misusing tax dollars further.
Thank you,
Kevin L. Henry
Denton, Texas
Saturday, September 27, 2008
Friday, September 26, 2008
I would like to see these.
Apparently, some Republicans have given letters from 122 Economics Professors from major universities all over the country urging the Congress not to do this. I would like to see what those guys are saying about this. I think they believe that the free market ought to be allowed to run its course.
On the other hand, I heard some clips on the radio where Clinton admitted to leaning on Fannie Mae and Freddie Mac during his administration to have at least 50% of their loans to low income borrowers. He said that he felt that they needed to do this because at the time, the shareholders and board members were making too much money from making solid, sensible loans to people who could actually pay them back…hmmm.
It doesn’t solve the problem, but at least we know the source of it. Once again it illustrates how the government makes a mess of things when they involve themselves in private business matters. Why do they have to force the mortgage lenders to make loans to people who will not be able to pay them back? Those people should rent like the rest of us had to do before we could afford to buy a house. One thing I haven’t done is checked Walter Williams site to see what he thinks about all of this. Understanding his position on the government meddling in the free market economy, I imagine he is against the bail out plan. Part of me has a real bad feeling about this. Do we not believe that other more sensible entities will fill in that vacuum left by the failed institutions? On the other hand, the government caused these problems; therefore, shouldn’t they be responsible for fixing them? Going back to the other point about the propensity of the government to turn a pile of crap into an even bigger pile of crap.
On the other hand, I heard some clips on the radio where Clinton admitted to leaning on Fannie Mae and Freddie Mac during his administration to have at least 50% of their loans to low income borrowers. He said that he felt that they needed to do this because at the time, the shareholders and board members were making too much money from making solid, sensible loans to people who could actually pay them back…hmmm.
It doesn’t solve the problem, but at least we know the source of it. Once again it illustrates how the government makes a mess of things when they involve themselves in private business matters. Why do they have to force the mortgage lenders to make loans to people who will not be able to pay them back? Those people should rent like the rest of us had to do before we could afford to buy a house. One thing I haven’t done is checked Walter Williams site to see what he thinks about all of this. Understanding his position on the government meddling in the free market economy, I imagine he is against the bail out plan. Part of me has a real bad feeling about this. Do we not believe that other more sensible entities will fill in that vacuum left by the failed institutions? On the other hand, the government caused these problems; therefore, shouldn’t they be responsible for fixing them? Going back to the other point about the propensity of the government to turn a pile of crap into an even bigger pile of crap.
Thursday, September 25, 2008
It's Really That Simple!
http://www.youtube.com/watch?v=NkjSWtXBxSw
The above link takes you to Dr. Laura's video blog.
Love and romance: is there anything better?
The above link takes you to Dr. Laura's video blog.
Love and romance: is there anything better?
the federal bail out plan
Okay, I have been listening to a lot of people, and since I got my new car, I have a lot more stations to listen to on the satellite radio. I listen to the Wall Street Journal station most of the time on the way home.
At first, I saw it as the government overreaching into the private sector once again. You know, just another form of welfare, but for the guys that don’t really need it. One might call it “trickle down communism”.
But (and I might be drinking the koolaid on this one) I think it will help Americans in the long run.
True, people who should be punished for such poor business decision making should be cut off from the federal funds.
This is actually an investment by the federal government. We are actually buying commercial paper (bank loans) that still have to be paid back. The federal government has the ability to enforce the payback on these loans by referring deadbeats to the IRS. An unpaid loan becomes income that was never reported subject to back taxes with more interest.
A lot of this money can be recouped by the eventual repayment of the loans or by the government foreclosing on the property itself.
It is not meant to bail out the person who does not pay his mortgage. It is supposed to unclog the credit system so they can make good loans and keep the economy fluid.
I am still not entirely sure. I really hate it when the government gives tax dollars to other people for charity. They are trying to sell this as an investment. Maybe so. Ann Coulter is not much help on the cure; she’s busy making sure everyone understands that a lot of this mess belongs to Billy Clinton.
I guarantee you that this country will go down the drain without even swirling of Obama gets elected.
What do you think about all of that?KLH
At first, I saw it as the government overreaching into the private sector once again. You know, just another form of welfare, but for the guys that don’t really need it. One might call it “trickle down communism”.
But (and I might be drinking the koolaid on this one) I think it will help Americans in the long run.
True, people who should be punished for such poor business decision making should be cut off from the federal funds.
This is actually an investment by the federal government. We are actually buying commercial paper (bank loans) that still have to be paid back. The federal government has the ability to enforce the payback on these loans by referring deadbeats to the IRS. An unpaid loan becomes income that was never reported subject to back taxes with more interest.
A lot of this money can be recouped by the eventual repayment of the loans or by the government foreclosing on the property itself.
It is not meant to bail out the person who does not pay his mortgage. It is supposed to unclog the credit system so they can make good loans and keep the economy fluid.
I am still not entirely sure. I really hate it when the government gives tax dollars to other people for charity. They are trying to sell this as an investment. Maybe so. Ann Coulter is not much help on the cure; she’s busy making sure everyone understands that a lot of this mess belongs to Billy Clinton.
I guarantee you that this country will go down the drain without even swirling of Obama gets elected.
What do you think about all of that?KLH
Mensa Invitational Word Contest
This is worth a laugh. Credit to emailer for the material (thanks, Brian).
The Washington Post's Mensa Invitational once again asked readers to take any word from the dictionary, alter it by adding, subtracting or changing one letter, and supply a new definition. Here are this year's winners.
Read them carefully. Each is an artificial word with only one letter altered from a real word.
1. Intaxication: Euphoria at getting a tax refund, which lasts until you realize it was your money to start with.
2. Reintarnation: Coming back to life as a hillbilly.
3. Bozone (n.): The substance surrounding stupid people, that stops bright ideas from penetrating. The Bozone layer, unfortunately, shows little sign of breaking down in the near future.
4. Cashtration (n.): The act of buying a house, which renders the subject financially impotent for an indefinite period of time.
5. Giraffiti: Vandalism spray-painted very, very high.
6. Sarchasm: The gulf between the author of sarcastic wit and the person who doesn't get it.
7. Inoculatte: To take coffee intravenously when you are running late.
8. Hipatitis: Terminal coolness.
9. Osteopornosis: A degenerate disease. (This one got extra credit.)
10. Karmageddon: It's like, when everybody is sending off all these really bad vibes, right? And then like, the Earth explodes and it's like, a serious bummer.
11. Decafalon (n.): The grueling event of getting through the day consuming only things that are good for you.
12. Glibido: All talk and no action
13. Dopeler Effect: The tendency of stupid ideas to seem smarter when they come at you rapidly.
14. Arachnoleptic Fit (n.): The frantic dance performed just after you've accidentally walked through a spider web.
15. Beelzebug (n.): Satan in the form of a mosquito, that gets into your bedroom at three in the morning and cannot be cast out.
16. Caterpallor (n.): The color you turn after finding half a worm in the fruit you're eating.
And, the pick of the lot...
17. Ignoranus: A person who's both stupid and a butthole.
The Washington Post's Mensa Invitational once again asked readers to take any word from the dictionary, alter it by adding, subtracting or changing one letter, and supply a new definition. Here are this year's winners.
Read them carefully. Each is an artificial word with only one letter altered from a real word.
1. Intaxication: Euphoria at getting a tax refund, which lasts until you realize it was your money to start with.
2. Reintarnation: Coming back to life as a hillbilly.
3. Bozone (n.): The substance surrounding stupid people, that stops bright ideas from penetrating. The Bozone layer, unfortunately, shows little sign of breaking down in the near future.
4. Cashtration (n.): The act of buying a house, which renders the subject financially impotent for an indefinite period of time.
5. Giraffiti: Vandalism spray-painted very, very high.
6. Sarchasm: The gulf between the author of sarcastic wit and the person who doesn't get it.
7. Inoculatte: To take coffee intravenously when you are running late.
8. Hipatitis: Terminal coolness.
9. Osteopornosis: A degenerate disease. (This one got extra credit.)
10. Karmageddon: It's like, when everybody is sending off all these really bad vibes, right? And then like, the Earth explodes and it's like, a serious bummer.
11. Decafalon (n.): The grueling event of getting through the day consuming only things that are good for you.
12. Glibido: All talk and no action
13. Dopeler Effect: The tendency of stupid ideas to seem smarter when they come at you rapidly.
14. Arachnoleptic Fit (n.): The frantic dance performed just after you've accidentally walked through a spider web.
15. Beelzebug (n.): Satan in the form of a mosquito, that gets into your bedroom at three in the morning and cannot be cast out.
16. Caterpallor (n.): The color you turn after finding half a worm in the fruit you're eating.
And, the pick of the lot...
17. Ignoranus: A person who's both stupid and a butthole.
Monday, September 22, 2008
Did I Ever Get Back From Vacation?
Sorry Everyone. I have been trying to keep up with work and work on the book. I need to end my blog vacation. I have alot to tell you about.
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