House Abukoff
Wednesday, July 29, 2009
Real Strength
Meek, in this sense means humble. Deeds rather than words. A person who feels the need to blow their own trumpet and brag about everything they do, or even shout others down because they think that's the only way they can make a point is not really strong. That person is really afraid that what they have to offer isn't good enough to stand on its own. Real strength means working hard or doing the right thing even when it isn't easy. It means showing people what you can do rather than padding your resume. People who can do that really will inherit the earth.
Friday, May 8, 2009
Kapact's Rant: Fear and Manipulation Part One
I'd actually like to talk about the role that fear plays in how politicians manipulate us. Politicians have since the dawn of time used fear to control their subjects, and our government today is no change. The extreme right makes us fear things like gay marriage and alternate lifestyles, really things that we may think is wrong, but don't in fact threaten the country. I believe myself that marriage is between a man and a woman, but I don't feel threatened by people who feel otherwise, and I don't think that the government needs to weigh in on the subject. I also don't like the idea of abortion, unless in case of rape or if the life of the mother is threatened, and I don't want my tax dollars going to fund abortions. But I also don't care for the government weighing in on the matter with its clumsy hands. It's a complex issue, for sure, because there is no question that a fetus is alive. It has a heartbeat, it moves and it kicks. If that is the case, then abortion, killing it, is murder. So maybe the debate we need to have and resolve is not whether or not women should have the right to choose, but whether or not they should have the right to choose to murder the lifeform that they helped to create. Maybe the debate should be at what point the fetus is entitled to protection under the law. There are serious rights and wrongs there, and again, the issue is not simple. A person's right to choose is vital to a free nation, and any restriction of that right needs to be undertaken only after the most careful deliberation. On the other hand, at what point is abortion murder? It is a fiendishly complicated issue, but it is also a weapon used by extreme far right politicians to manipulate the public. We must fear, and therefore put a stop to these evil people who are destroying the moral fibre of the country.
The far right, however, is not alone in using fear to manipulate the public. I'll talk about that next time.
Repeating From Last Time:
The housing meltdown which is at the heart of our crisis started in earnest in 1992 when Mister Clinton had the great idea to sell houses to low-income voters who couldn't afford them. No question that both sides ignored the problem but got rich off the over-inflated bubble, but it started under Bill Clinton. The records are there. Here are a few links that show just what I'm talking about:
From The New York Times in 1999: Fannie Mae Eases Credit To Aid Mortgage Lending (http://query.nytimes.com/gst/fullpage.html?res=9c0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=all) "Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people..."
From the New York Post: Alarms and Denial (http://www.nypost.com/php/pfriendly/print.php?url=http://www.nypost.com/seven/09262008/postopinion/opedcolumnists/alarms__denial_130763.htm)
Bloomberg Financial News: "How the Democrats Created the Financial Crisis" (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0)
YouTube: Democrats in their own words (http://www.youtube.com/watch?v=_MGT_cSi7Rs)
YouTube: Burning Down the House (http://www.youtube.com/watch?v=1RZVw3no2A4&feature=iv&annotation_id=event_597487)
YouTube: Obama Ranks Second In Freddie/Fannie Contributions (http://www.youtube.com/watch?v=H-_HlpZ8azA&feature=related)
Now I'll repeat what I said last week. First and foremost, this economic crisis has roots in the Clinton administration. Clinton ordered that home loans be given to families that could not pay them. Granted, Bush should have seen the meltdown coming, but it's a time bomb that Bill Clinton planted under the house. It's up to President Obama to set the tone and the course to rebuild our house. We all share responsibility for doing the hard work, but the President is the boss. The buck stops in the Oval Office. And speaking of the Oval Office, I have to admit that I have liked a fair amount of what I've seen of our new President. Words are cheap, and politicians are good at saying things people want to hear. At the same time, we need this presidency to be successful, and he can't succeed without our support. So while I'll be quick to point out everything that I see him do wrong, I'll also try my hardest to point out everything that I see him do right. I saw him talking to Matt Lauer just before the Superbowl, and he looked, unlike candidate Obama, like a man with humor and compassion and an appreciation for the humanity of the people that make up this country. He was funny and self-deprecating and seemingly unscripted. That man will have my support for as long as he occupies the White House. When he stops being that man, I'll stop supporting him.
Saturday, May 2, 2009
What's New Here?
Kapact
Thursday, April 9, 2009
Kapact's Rant: O.B.A.M.A. (Oh Boy Another Mistake A$S&\#@)
Repeating From Last Week:
The housing meltdown which is at the heart of our crisis started in earnest in 1992 when Mister Clinton had the great idea to sell houses to low-income voters who couldn't afford them. No question that both sides ignored the problem but got rich off the over-inflated bubble, but it started under Bill Clinton. The records are there. Here are a few links that show just what I'm talking about:
From The New York Times in 1999: Fannie Mae Eases Credit To Aid Mortgage Lending (http://query.nytimes.com/gst/fullpage.html?res=9c0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=all) "Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people..."
From the New York Post: Alarms and Denial (http://www.nypost.com/php/pfriendly/print.php?url=http://www.nypost.com/seven/09262008/postopinion/opedcolumnists/alarms__denial_130763.htm)
Bloomberg Financial News: "How the Democrats Created the Financial Crisis" (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0)
YouTube: Democrats in their own words (http://www.youtube.com/watch?v=_MGT_cSi7Rs)
YouTube: Burning Down the House (http://www.youtube.com/watch?v=1RZVw3no2A4&feature=iv&annotation_id=event_597487)
YouTube: Obama Ranks Second In Freddie/Fannie Contributions (http://www.youtube.com/watch?v=H-_HlpZ8azA&feature=related)
Now I'll repeat what I said last week. First and foremost, this economic crisis has roots in the Clinton administration. Clinton ordered that home loans be given to families that could not pay them. Granted, Bush should have seen the meltdown coming, but it's a time bomb that Bill Clinton planted under the house. It's up to President Obama to set the tone and the course to rebuild our house. We all share responsibility for doing the hard work, but the President is the boss. The buck stops in the Oval Office. And speaking of the Oval Office, I have to admit that I have liked a fair amount of what I've seen of our new President. Words are cheap, and politicians are good at saying things people want to hear. At the same time, we need this presidency to be successful, and he can't succeed without our support. So while I'll be quick to point out everything that I see him do wrong, I'll also try my hardest to point out everything that I see him do right. I saw him talking to Matt Lauer just before the Superbowl, and he looked, unlike candidate Obama, like a man with humor and compassion and an appreciation for the humanity of the people that make up this country. He was funny and self-deprecating and seemingly unscripted. That man will have my support for as long as he occupies the White House. When he stops being that man, I'll stop supporting him.
Fleet Action. Head-To-Head Bare Knuckles Naval Combat. Boarding Party Action. Solid Interactive Storytelling Like No Commercial Game Can Offer. How Much Star Trek Can You Handle?
Fantasy Trek. Not Just a Game. It's a Star Trek Experience
http://fantasytrek.blogspot.com/
The Only Rebel Underground Star Trek PBEMMMORPG
Sunday, April 5, 2009
Kapact's Rant: What Mr Obama's Gift Will Cost You
And don't cry about giving Obama a chance. The two years that Obama spent in Congress were used to help create this problem and to run for President. They were used to condone the disposal of 'failed abortions' (live babies thrown in the garbage in Chicago hospitals), and to take in more money from unions and lobbyists than most other legislators have in a lifetime of exploiting crises. He spent the time voting 'present' and deciding which issues were above his paygrade. He's had plenty of time to fix the problem.
Repeating From Last Week:
The housing meltdown which is at the heart of our crisis started in earnest in 1992 when Mister Clinton had the great idea to sell houses to low-income voters who couldn't afford them. No question that both sides ignored the problem but got rich off the over-inflated bubble, but it started under Bill Clinton. The records are there. Here are a few links that show just what I'm talking about:
From The New York Times in 1999: Fannie Mae Eases Credit To Aid Mortgage Lending (http://query.nytimes.com/gst/fullpage.html?res=9c0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=all) "Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people..."
From the New York Post: Alarms and Denial (http://www.nypost.com/php/pfriendly/print.php?url=http://www.nypost.com/seven/09262008/postopinion/opedcolumnists/alarms__denial_130763.htm)
Bloomberg Financial News: "How the Democrats Created the Financial Crisis" (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0)
YouTube: Democrats in their own words (http://www.youtube.com/watch?v=_MGT_cSi7Rs)
YouTube: Burning Down the House (http://www.youtube.com/watch?v=1RZVw3no2A4&feature=iv&annotation_id=event_597487)
YouTube: Obama Ranks Second In Freddie/Fannie Contributions (http://www.youtube.com/watch?v=H-_HlpZ8azA&feature=related)
Now I'll repeat what I said last week. First and foremost, this economic crisis has roots in the Clinton administration. Clinton ordered that home loans be given to families that could not pay them. Granted, Bush should have seen the meltdown coming, but it's a time bomb that Bill Clinton planted under the house. It's up to President Obama to set the tone and the course to rebuild our house. We all share responsibility for doing the hard work, but the President is the boss. The buck stops in the Oval Office. And speaking of the Oval Office, I have to admit that I have liked a fair amount of what I've seen of our new President. Words are cheap, and politicians are good at saying things people want to hear. At the same time, we need this presidency to be successful, and he can't succeed without our support. So while I'll be quick to point out everything that I see him do wrong, I'll also try my hardest to point out everything that I see him do right. I saw him talking to Matt Lauer just before the Superbowl, and he looked, unlike candidate Obama, like a man with humor and compassion and an appreciation for the humanity of the people that make up this country. He was funny and self-deprecating and seemingly unscripted. That man will have my support for as long as he occupies the White House. When he stops being that man, I'll stop supporting him.
Fleet Action. Head-To-Head Bare Knuckles Naval Combat. Boarding Party Action. Solid Interactive Storytelling Like No Commercial Game Can Offer. How Much Star Trek Can You Handle?
Fantasy Trek. Not Just a Game. It's a Star Trek Experience
http://fantasytrek.blogspot.com
The Only Rebel Underground Star Trek PBEMMMORPG
Friday, March 20, 2009
Kapact's Rant: Which Weekly "News" Magazine Wiped Israel Off The Map?
Here's another foodstamp horror story. Just a brief one really, that needs no explanation. Two girls, maybe twenty years old, picking out steak, soda, and potato chips to buy with their EBT foodstamp card while chatting on their I-Phone. As far as I know, the I-Phone costs about a hundred dollars a month to run. So please, sell your fancy phone and stop stealing my tax dollars.
Repeating From Last Week:
The housing meltdown which is at the heart of our crisis started in earnest in 1992 when Mister Clinton had the great idea to sell houses to low-income voters who couldn't afford them. No question that both sides ignored the problem but got rich off the over-inflated bubble, but it started under Bill Clinton. The records are there. Here are a few links that show just what I'm talking about:
From The New York Times in 1999: Fannie Mae Eases Credit To Aid Mortgage Lending (http://query.nytimes.com/gst/fullpage.html?res=9c0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=all) "Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people..."
From the New York Post: Alarms and Denial (http://www.nypost.com/php/pfriendly/print.php?url=http://www.nypost.com/seven/09262008/postopinion/opedcolumnists/alarms__denial_130763.htm)
Bloomberg Financial News: "How the Democrats Created the Financial Crisis" (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0)
YouTube: Democrats in their own words (http://www.youtube.com/watch?v=_MGT_cSi7Rs)
YouTube: Burning Down the House (http://www.youtube.com/watch?v=1RZVw3no2A4&feature=iv&annotation_id=event_597487)
YouTube: Obama Ranks Second In Freddie/Fannie Contributions (http://www.youtube.com/watch?v=H-_HlpZ8azA&feature=related)
Now I'll repeat what I said last week. First and foremost, this economic crisis has roots in the Clinton administration. Clinton ordered that home loans be given to families that could not pay them. Granted, Bush should have seen the meltdown coming, but it's a time bomb that Bill Clinton planted under the house. It's up to President Obama to set the tone and the course to rebuild our house. We all share responsibility for doing the hard work, but the President is the boss. The buck stops in the Oval Office. And speaking of the Oval Office, I have to admit that I have liked a fair amount of what I've seen of our new President. Words are cheap, and politicians are good at saying things people want to hear. At the same time, we need this presidency to be successful, and he can't succeed without our support. So while I'll be quick to point out everything that I see him do wrong, I'll also try my hardest to point out everything that I see him do right. I saw him talking to Matt Lauer just before the Superbowl, and he looked, unlike candidate Obama, like a man with humor and compassion and an appreciation for the humanity of the people that make up this country. He was funny and self-deprecating and seemingly unscripted. That man will have my support for as long as he occupies the White House. When he stops being that man, I'll stop supporting him.
Fleet Action. Head-To-Head Bare Knuckles Naval Combat. Boarding Party Action. Solid Interactive Storytelling Like No Commercial Game Can Offer. How Much Star Trek Can You Handle?
Fantasy Trek. Not Just a Game. It's a Star Trek Experience
http://fantasytrek.blogspot.com
The Only Rebel Underground Star Trek PBEMMMORPG
Sunday, March 15, 2009
Kapact's Rant: If Bush Had Done It... Dissing The British
There are things that our new president is doing that definitely fall under the 'if-Bush-had-done-it' category that somehow the liberal media somehow manages to miss. Did you know, for example, that British Prime Minister Gordon Brown recently visited the Obamas? Yes, he did. First off, Obama decides that there would be no British flags anywhere in the White House when they met. Okay. Not an outright insult, but certainly a lack of diplomacy. But it gets worse. As a gift, He was kind enough to bring with an amazing gift, a pen made from wood from the HMS Resolute. I'll tell you about the HMS Resolute. The Resolute was one of their warships in the 1850's, and it went with another ship into the Arctic Circle. Both ships got stuck in the ice. The other ship made it out, but the Resolute didn't. The Captain of the Resolute ordered his crew to board the other ship to get home. When he got home, he was court-martialed for abandoning his ship. When the ice finally started to break up, America went up and pulled the Resolute out of the ice and sailed it to England. The point was that we were trying to make a gesture of reconciliation with England after the Revolution and the War of 1812. It was a way of showing that we were brothers. This is a big thing. A historic thing. So when the Resolute was decommissioned, Queen Elizabeth decided to have two desks made from the wood of the ship. One was for her, and the other she gave to the President. This, again, is really significant. It is a symbol of the close relationship we share. And now, Gordon Brown comes over and gives Barack Obama a pen made from the wood of the HMS Resolute. So what does our President give him in return? He gives him a basket... seriously, a basket filled with 25 DVD's of American movies. Rather than something special that says something about the close and special relationship between this country and its greatest ally, Obama gives Gordon Brown 25 DVD's that, unless Brown has a multizone DVD player, he won't be able to play anyway. It's cheap and low-class. Ah, but we're not finished.
Mrs. Brown has brought children's clothing from the best designer in England for the kids, and Michelle goes downstairs and grabs a couple of boxes of Marine One helicopter models and hands them to Mrs. Brown, saying, "Here, this is for you." Is this hatred for England? Could be. Michelle Obama wrote in a term paper that England was just a linchpin for slavery. This, remember, is our greatest, most stalwart ally. But that still is not the worst. Here's the worst.
Something else that England has done in two's. There are two famous busts of Winston Churchill. One was given to the President after 9/11 as a way of saying that they stand with us. So what does Obama do with this gift? When Gordon Brown visits, Obama puts the bust in a box and tells Brown we don't want it anymore. Brown says, "No, Mr President, this wasn't a loan, it was a gift. If you don't want it in the White House, put it in a musuem. Mister Obama just says "No, we don't want it anymore." I'd say that we aren't yet into the 'rebuilding our image abroad' phase, because this was an embarrassment that the British media and people went nuts over, but Brian Williams et al just seemed to have missed. If it Bush had done it....
Repeating From Last Week:
The housing meltdown which is at the heart of our crisis started in earnest in 1992 when Mister Clinton had the great idea to sell houses to low-income voters who couldn't afford them. No question that both sides ignored the problem but got rich off the over-inflated bubble, but it started under Bill Clinton. The records are there. Here are a few links that show just what I'm talking about:
From The New York Times in 1999: Fannie Mae Eases Credit To Aid Mortgage Lending (http://query.nytimes.com/gst/fullpage.html?res=9c0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=all) "Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people..."
From the New York Post: Alarms and Denial (http://www.nypost.com/php/pfriendly/print.php?url=http://www.nypost.com/seven/09262008/postopinion/opedcolumnists/alarms__denial_130763.htm)
Bloomberg Financial News: "How the Democrats Created the Financial Crisis" (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0)
YouTube: Democrats in their own words (http://www.youtube.com/watch?v=_MGT_cSi7Rs)
YouTube: Burning Down the House (http://www.youtube.com/watch?v=1RZVw3no2A4&feature=iv&annotation_id=event_597487)
YouTube: Obama Ranks Second In Freddie/Fannie Contributions (http://www.youtube.com/watch?v=H-_HlpZ8azA&feature=related)
Now I'll repeat what I said last week. First and foremost, this economic crisis has roots in the Clinton administration. Clinton ordered that home loans be given to families that could not pay them. Granted, Bush should have seen the meltdown coming, but it's a time bomb that Bill Clinton planted under the house. It's up to President Obama to set the tone and the course to rebuild our house. We all share responsibility for doing the hard work, but the President is the boss. The buck stops in the Oval Office. And speaking of the Oval Office, I have to admit that I have liked a fair amount of what I've seen of our new President. Words are cheap, and politicians are good at saying things people want to hear. At the same time, we need this presidency to be successful, and he can't succeed without our support. So while I'll be quick to point out everything that I see him do wrong, I'll also try my hardest to point out everything that I see him do right. I saw him talking to Matt Lauer just before the Superbowl, and he looked, unlike candidate Obama, like a man with humor and compassion and an appreciation for the humanity of the people that make up this country. He was funny and self-deprecating and seemingly unscripted. That man will have my support for as long as he occupies the White House. When he stops being that man, I'll stop supporting him.
Fleet Action. Head-To-Head Bare Knuckles Naval Combat. Boarding Party Action. Solid Interactive Storytelling Like No Commercial Game Can Offer. How Much Star Trek Can You Handle?
Fantasy Trek. Not Just a Game. It's a Star Trek Experience
http://fantasytrek.blogspot.com
The Only Rebel Underground Star Trek PBEMMMORPG
Saturday, February 28, 2009
Headlines From The Edge: Feb 28 2009
President Barack Obama revealed an ambitious part of his stimulus plan today, ordering the construction of twelve Constitution Class starships. "This is just the sort of bold thinking we need to take us into the next several centuries," he said. "And don't worry about the price tag. You've seen Star Trek. By the time our Starfleet is finished, money won't exist anyway. It's a win-win proposition. And this should put an end to the talk about me changing the constitution. C'mon. They're called 'Constitution Class' for a reason."
Increase in Alien Visitors Due to Recession
Alien Ambassador #@")€¥123007 spoke before a joint session of Congress today, making the case for alien university students. He explained that the world-wide recession is a boon for students in his home galaxy. He said, through an interpreter, that students would typically have trouble abducting subjects for their research projects, but with times so tough on Earth, a few dollars or a can of pork and beans have volunteers lining up for miles. The ambassador added that any attempt to ease the recession could set the study of humans back by at least fifty years.
Man Literally Laughs All the Way to the Bank
A man who refused to identify himself left his small house in Americus, Georgia and walked to a local Bank of America branch, literally laughing all the way to the bank. Witnesses said that he was laughing when he stepped out of his house, and kept laughing as he walked down the sidewalk. He safely crossed three intersections and then a full city block, and was still laughing when he walked into the bank. There was noone walking with him, and the local CTU (Counter-Terrorism Unit) office reported that he was not using a cellphone or mobile device of any kind. Whether he is actually off his rocker, or might be the bank CEO is still a matter of speculation.
How Much Star Trek Can You Handle?
Fantasy Trek. Not Just a Game. It's a Star Trek Experience
http://fantasytrek.blogspot.com
Tuesday, February 24, 2009
Kapact's Rant: Hope You Enjoy Your Change
Repeating From Last Week:
The housing meltdown which is at the heart of our crisis started in earnest in 1992 when Mister Clinton had the great idea to sell houses to low-income voters who couldn't afford them. No question that both sides ignored the problem but got rich off the over-inflated bubble, but it started under Bill Clinton. The records are there. Here are a few links that show just what I'm talking about:
From The New York Times in 1999: Fannie Mae Eases Credit To Aid Mortgage Lending (http://query.nytimes.com/gst/fullpage.html?res=9c0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=all) "Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people..."
From the New York Post: Alarms and Denial (http://www.nypost.com/php/pfriendly/print.php?url=http://www.nypost.com/seven/09262008/postopinion/opedcolumnists/alarms__denial_130763.htm)
Bloomberg Financial News: "How the Democrats Created the Financial Crisis" (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0)
YouTube: Democrats in their own words (http://www.youtube.com/watch?v=_MGT_cSi7Rs)
YouTube: Burning Down the House (http://www.youtube.com/watch?v=1RZVw3no2A4&feature=iv&annotation_id=event_597487)
YouTube: Obama Ranks Second In Freddie/Fannie Contributions (http://www.youtube.com/watch?v=H-_HlpZ8azA&feature=related)
Now I'll repeat what I said last week. First and foremost, this economic crisis has roots in the Clinton administration. Clinton ordered that home loans be given to families that could not pay them. Granted, Bush should have seen the meltdown coming, but it's a time bomb that Bill Clinton planted under the house. It's up to President Obama to set the tone and the course to rebuild our house. We all share responsibility for doing the hard work, but the President is the boss. The buck stops in the Oval Office. And speaking of the Oval Office, I have to admit that I have liked a fair amount of what I've seen of our new President. Words are cheap, and politicians are good at saying things people want to hear. At the same time, we need this presidency to be successful, and he can't succeed without our support. So while I'll be quick to point out everything that I see him do wrong, I'll also try my hardest to point out everything that I see him do right. I saw him talking to Matt Lauer just before the Superbowl, and he looked, unlike candidate Obama, like a man with humor and compassion and an appreciation for the humanity of the people that make up this country. He was funny and self-deprecating and seemingly unscripted. That man will have my support for as long as he occupies the White House. When he stops being that man, I'll stop supporting him.
How Much Star Trek Can You Handle?
Fantasy Trek. Not Just a Game. It's a Star Trek Experience
http://fantasytrek.blogspot.com
Tuesday, February 17, 2009
Kapact's Rant: We Know What's Best, Even When We're Wrong
By STEVEN A. HOLMES
Published: September 30, 1999
In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.
''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''
Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market.
In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.
''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''
Under Fannie Mae's pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 -- a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped.
Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.
Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic whites.
Home ownership has, in fact, exploded among minorities during the economic boom of the 1990's. The number of mortgages extended to Hispanic applicants jumped by 87.2 per cent from 1993 to 1998, according to Harvard University's Joint Center for Housing Studies. During that same period the number of African Americans who got mortgages to buy a home increased by 71.9 per cent and the number of Asian Americans by 46.3 per cent.
In contrast, the number of non-Hispanic whites who received loans for homes increased by 31.2 per cent.
Despite these gains, home ownership rates for minorities continue to lag behind non-Hispanic whites, in part because blacks and Hispanics in particular tend to have on average worse credit ratings.
In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups.
The change in policy also comes at the same time that HUD is investigating allegations of racial discrimination in the automated underwriting systems used by Fannie Mae and Freddie Mac to determine the credit-worthiness of credit applicants.
While I was never a fan of Bill Clinton, I will admit to appreciating the fact that he studies relentlessly. He does his homework. While he has the morals of an alley cat, he is without a doubt a very clever, hard-working person. He has a big, usually out-of-control mouth, but he also has a high IQ. But he blew it big that time. His short-sighted pandering to low-income voters (in an attempt, no doubt, to buy the election for Al Gore), stuffed this country but good, and now Obama has sold us a trillion dollar bottle of snake oil/magic elixir to cure the problem that Bush is supposed to have caused. Bush sure as heck let it grow, but Clinton started it.
It's the same kind of shoved-down-our-throats solution to the on-again, off-again, depends-on-who-you-ask issue of climate change. And you note we don't hear 'global warming' nearly as much, since 2008 was globally the coolest year in more than a decade. No, it's 'climate change' now. Just like 'liberal' is now 'progressive'. Folks, call it what you want, a cr@p sandwich by any other name would smell as bad. I even heard local meteorologist Kevin Janison say that global warming didn't actually refer to the temperature, but to weather instabilitty. I guess that depends on what the meaning of the word "warming" is. Come on Kevin, get with the times. It isn't global warming, it's climate change. I'll just say something about meteorologists. Discounting what I think about Weather Channel Chief Stormtrooper Heidi Cullen, I find it interesting that these supposed experts think nothing of repeatedly getting it wrong on a daily basis, explaining that it's just a forecast, and things can always change. But they still call themselves experts and think that they can tell us what's going to happen thirty years from now. Forgive me Heidi and Kevin, but if you can't say what's going to happen three days from now, how can you say with authority what will happen a year from now, much less thirty years from now. I don't have a problem with cleaning the air and/or getting off of fossil fuels. We need to do both. I don't even mind an honest debate on climate change. What I have a problem with is, again, a decision made by a few elite liberal stormtroopers who use their jackboots to crush the necks of anyone who dares to debate the issue. Not even disagree, but just debate. Dissent is healthy, even when liberals are making the decision.
Mark my words, we will be told in the next four years that questioning the decrees of the Obama administration is unpatriotic. Big Brother just got bigger. They're from the government and they're here to help. And may God have mercy on your soul.
Now here are my weekly reminders of who got us in our current mess:
The housing meltdown which is at the heart of our crisis started in earnest in 1992 when Mister Clinton had the great idea to sell houses to low-income voters who couldn't afford them. No question that both sides ignored the problem but got rich off the over-inflated bubble, but it started under Bill Clinton. The records are there. Here are a few links that show just what I'm talking about:
From The New York Times in 1999: Fannie Mae Eases Credit To Aid Mortgage Lending (http://query.nytimes.com/gst/fullpage.html?res=9c0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=all) "Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people..."
From the New York Post: Alarms and Denial (http://www.nypost.com/php/pfriendly/print.php?url=http://www.nypost.com/seven/09262008/postopinion/opedcolumnists/alarms__denial_130763.htm)
Bloomberg Financial News: "How the Democrats Created the Financial Crisis" (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0)
YouTube: Democrats in their own words (http://www.youtube.com/watch?v=_MGT_cSi7Rs)
YouTube: Burning Down the House (http://www.youtube.com/watch?v=1RZVw3no2A4&feature=iv&annotation_id=event_597487)
YouTube: Obama Ranks Second In Freddie/Fannie Contributions (http://www.youtube.com/watch?v=H-_HlpZ8azA&feature=related)
And my weekly comments on P'resident Obama:
First and foremost, this economic crisis has roots in the Clinton administration. Clinton ordered that home loans be given to families that could not pay them. Granted, Bush should have seen the meltdown coming, but it's a time bomb that Bill Clinton planted under the house. It's up to President Obama to set the tone and the course to rebuild our house. We all share responsibility for doing the hard work, but the President is the boss. The buck stops in the Oval Office. And speaking of the Oval Office, I have to admit that I have liked a fair amount of what I've seen of our new President. Words are cheap, and politicians are good at saying things people want to hear. At the same time, we need this presidency to be successful, and he can't succeed without our support. So while I'll be quick to point out everything that I see him do wrong, I'll also try my hardest to point out everything that I see him do right. I saw him talking to Matt Lauer just before the Superbowl, and he looked, unlike candidate Obama, like a man with humor and compassion and an appreciation for the humanity of the people that make up this country. He was funny and self-deprecating and seemingly unscripted. That man will have my support for as long as he occupies the White House. When he stops being that man, I'll stop supporting him.
How Much Star Trek Can You Handle?
Fantasy Trek. Not Just a Game. It's a Star Trek Experience
http://fantasytrek.blogspot.com
Tuesday, February 10, 2009
Kapact's Rant: Read The Fine Print
Here's another reason to love our politicians. You all see these heroes insisting that execs accepting taxpayer dollars now be subject to salary caps. Well here's a thought. How about you taking a salary cap? I know that we couldn't live without you, and it just tortures you to have to vote yourselves endless unjustified raises, but how about some of that responsibility and transparency that you're demanding from people taking taxpayer dollars? I mean, it's just that, well, you accept taxpayer dollars, don't you? Here's a thought. How about merit pay for politicians? If your next paycheck depended on your results, how do you think you would do? Would you have to worry about your financial future like most people in this country do?
I watched the president's first press conference with interest. I know that President Obama does poorly when he's unscripted. This didn't seem to be any different. There seemed to be nothing but softball questions that the president already magically had prepared five-minute speeches for. Hardly surprising. But the memorable moment, the payoff for the hour was Helen Thomas (who has outstayed her welcome and outlived her legitimacy by at least a decade) referring to the Taliban and Al Qeada as 'so-called terrorists'. Kind of like saying that Hitler was a so-called killer.
I'll finish this off with a reminder of where this problem started:
This problem started in earnest in 1992 when Mister Clinton had the great idea to sell houses to low-income voters who couldn't afford them. The records are there. Here are a few links that show just what I'm talking about:
From The New York Times in 1999: Fannie Mae Eases Credit To Aid Mortgage Lending (http://query.nytimes.com/gst/fullpage.html?res=9c0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=all) "Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people..."
From the New York Post: Alarms and Denial (http://www.nypost.com/php/pfriendly/print.php?url=http://www.nypost.com/seven/09262008/postopinion/opedcolumnists/alarms__denial_130763.htm)
Bloomberg Financial News: "How the Democrats Created the Financial Crisis" (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0)
YouTube: Democrats in their own words (http://www.youtube.com/watch?v=_MGT_cSi7Rs)
YouTube: Burning Down the House (http://www.youtube.com/watch?v=1RZVw3no2A4&feature=iv&annotation_id=event_597487)
YouTube: Obama Ranks Second In Freddie/Fannie Contributions (http://www.youtube.com/watch?v=H-_HlpZ8azA&feature=related)
Now I'll repeat what I said last week. First and foremost, this economic crisis has roots in the Clinton administration. Clinton ordered that home loans be given to families that could not pay them. Granted, Bush should have seen the meltdown coming, but it's a time bomb that Bill Clinton planted under the house. It's up to President Obama to set the tone and the course to rebuild our house. We all share responsibility for doing the hard work, but the President is the boss. The buck stops in the Oval Office. And speaking of the Oval Office, I have to admit that I have liked a fair amount of what I've seen of our new President. Words are cheap, and politicians are good at saying things people want to hear. At the same time, we need this presidency to be successful, and he can't succeed without our support. So while I'll be quick to point out everything that I see him do wrong, I'll also try my hardest to point out everything that I see him do right. I saw him talking to Matt Lauer just before the Superbowl, and he looked, unlike candidate Obama, like a man with humor and compassion and an appreciation for the humanity of the people that make up this country. He was funny and self-deprecating and seemingly unscripted. That man will have my support for as long as he occupies the White House. When he stops being that man, I'll stop supporting him.
How Much Star Trek Can You Handle?
Fantasy Trek. Not Just a Game. It's a Star Trek Experience
http://fantasytrek.blogspot.com
Sunday, February 1, 2009
Kapact's Rant: Three Rants and a Note About Our President
I was fascinated to watch unrepentant crook and Chicago politics posterboy Rod Blagojevich 'make his case' without actually making a case. He was all defiant righteous anger and indignation, telling us just how much he's done for the state, and how the people elected him twice. And even having the nerve to warn the people of the dangers of a legislature removing a governor without a trial. Well, mister blagojevich, your actions have in every case spoken louder than your words. You have shown the danger of government not caring about the wishes of the people. You demonstrated a contempt for the rule of law with your own taped words, interspersed with more vulgarity than HBO spouts on a Saturday night, talking about how much this power is worth, and how much you want for it, and what you think of those not willing to pay your price. You need to understand, mister blagojevich, that public office is not a prize, it's a responsibility. A duty. An honor. You don't buy or sell or win your office, you are granted stewardship over it, and the condition in which you leave it says a great deal about you. You have managed to embarrass, with the depth of your graft and arrogance, a criminal machine that puts the mafia to shame. You managed to make a den of criminals look angelic by comparison.
I'm frightened. Truly I am. President Obama signed into law good legislation designed to ensure that women receive equal pay for equal work. That is good and just and way overdue. So, yes, I'm frightened that Obama has done something else that I agree with. However, I must take slight exception to remarks that he made during the accompanying photo-op. He said that he doesn't want to limit his daughters' dreams. On the surface, that is a good, sensible, honorable thought. But it doesn't bear close examination. Because just as Joe the Plumber is limited in his dreams of small business ownership, so must the Obama girls if they ever try the same thing. In a way, mister obama, we're all your children. You took an oath to make sure that none of our dreams are limited. So remember that as you are redistributing our success.
I saw a very sad story on the news the other day, about a 93 year old World War Two veteran dying in his Michigan home during a winter storm because the power company had put a power limiter on his house. He was said to be a thousand dollars behind on his power bill. Well, I'll just say that the power company is not in business to lose money. Bills are serious things, and have to be paid. Let's be honest. The bill didn't get that big overnight. (You'd have to be Al Gore to use that much electricity in a month). I'm not dishonoring this hero. I''m telling the truth, and the truth never dishonored anyone. At the same time, sometimes numbers and bottomline must give way to compassion, and according to the story, nobody took the time to explain to him how the power limiter worked So both parties share responsibility here. But there is more responsibility to go around. That is, and most glaringly to the family that is suddenly so concerned with this deceased hero. Where were you before he died? Where were the phone calls to check on him during the winter storm that killed him? I don't doubt the complicity of the power company that cared more about money than people, and I don't doubt that his family loved him and cared about him. But where were you before he died? According to reports he had enough money to pay his bill, and he may have had dementia. So tell me, indignant family, did you know he had dementia? If so, again, where were you before he died? How long had it been since you checked on him? I'm not trying to be cruel here. I know that good, caring, honorable people make mistakes. I'm not saying it's your fault. I'm just saying that people are often better at appointing blame than taking responsibility. We're all guilty of that. Nobody's perfect. But it's also true that we'll never improve before we acknowledge that.
I'm going to add something here about President Obama and our economy, and I plan on repeating this in every rant. First and foremost, this economic crisis has roots in the Clinton administration. Clinton ordered that home loans be given to families that could not pay them. Granted, Bush should have seen the meltdown coming, but it's a time bomb that Bill Clinton planted under the house. It's up to President Obama to set the tone and the course to rebuild our house. We all share responsibility for doing the hard work, but the President is the boss. The buck stops in the Oval Office. And speaking of the Oval Office, I have to admit that I have liked a fair amount of what I've seen of our new President. Words are cheap, and politicians are good at saying things people want to hear. At the same time, we need this presidency to be successful, and he can't succeed without our support. So while I'll be quick to point out everything that I see him do wrong, I'll also try my hardest to point out everything that I see him do right. I saw him talking to Matt Lauer just before the Superbowl, and he looked, unlike candidate Obama, like a man with humor and compassion and an appreciation for the humanity of the people that make up this country. He was funny and self-deprecating and seemingly unscripted. That man will have my support for as long as he occupies the White House. When he stops being that man, I'll stop supporting him.
How Much Star Trek Can You Handle?
Fantasy Trek. Not Just a Game. It's a Star Trek Experience
http://fantasytrek.blogspot.com
Tuesday, January 27, 2009
Kapact's Rant: Mister Obama's First Week
How Much Star Trek Can You Handle?
Fantasy Trek. Not Just a Game. It's a Star Trek Experience
http://fantasytrek.blogspot.com
Monday, January 19, 2009
The Rant: Enjoy The Party
What is Fantasy Trek?
Not Just a Game. It's a Star Trek Experience
http://fantasytrek.blogspot.com
Tuesday, January 13, 2009
The Rant: Hurting Me, Hurting You
What is Fantasy Trek?
Not Just a Game. It's a Star Trek Experience
http://fantasytrek.blogspot.com
Sunday, January 4, 2009
The Rant: Food Stamp Fraud and Who Runs the Media?
Rant Number Two. Just a short one. Considering that Hamas has lobbed more than 6,000 missiles into Israel in the last year, why have there been no protests in the street until Israel started fighting back? The media has been nearly silent on the subject until now, and now they're 'shocked, shocked'. The old ignorant liberal rant, generally best represented on men's room walls, that "Jews own the media" has never been so obviously and patently ridiculous.
What is Fantasy Trek?
Not Just a Game. It's a Star Trek Experience
http://fantasytrek.blogspot.com
Tuesday, December 30, 2008
The Job Warrior: My Experience Losing a Job and Getting Another During a Hiring Freeze
Tuesday, December 9, 2008
The House Abukoff Lexicon
noteworthy things. For example:
Quoted from Thelma (family member, last name omitted)
"Let your air be free where ere you be"
comments welcome
Monday, June 2, 2008
Good and Bad Founding Fathers
history lesson, I'm getting a picture of our early Congress that is, as hard
as it is to believe, almost as bad as that nest of vipers we have now. I'm
also learning of some of the truly brave men and women who gave us this
opportunity that our representatives now seem to be squandering. Rather than
try to explain each excerpt, I'll just present the words of David McCullough
and John Adams.
...Outraged by Dickinson's insistence on petitions to the King as essential
to restoring peace, even after Lexington, Concord, and Bunker Hill, Adams
had strongly denounced any such step. Like many other delegates, he had been
infuriated by Congress's humble petition of July 8, 1775, the so-called
Olive Branch Petition, that had been Dickinson's major contribution. From
the day he saw with his own eyes what the British had done at Lexington and
Concord, Adams failed to understand how anyone could have any misconception
or naïve hope about what to expect from the British. "Powder and artillery
are the most efficacious, sure and infallible conciliatory measures we can
adopt," Adams wrote privately...
*****
...The greatest minds agreed, Adams continued, that all good government was
republican, and the "true idea" of a republic was "an empire of laws and not
of men," a phrase not original with Adams but that he had borrowed from the
writings of the seventeenth-century philosopher James Harrington. A
government with a single legislative body would never do. There should be a
representative assembly, "an exact portrait in miniature of the people at
large," but it must not have the whole legislative power, for the reason
that like an individual with unchecked power, it could be subject to "fits
of humor, transports of passion, partialities of prejudice." A single
assembly could "grow avaricious . . . exempt itself from burdens . . .
become ambitious and after some time vote itself perpetual."...
******
...But when later that evening a preliminary vote was taken, four colonies
unexpectedly held back, refusing to proclaim independence. The all-important
Pennsylvania delegation, despite popular opinion in Pennsylvania, stood with
John Dickinson and voted no. The New York delegates abstained, saying they
favored the motion but lacked specific instructions. South Carolina, too,
surprisingly, voted no, while Delaware, with only two delegates present, was
divided. The missing Delaware delegate was Caesar Rodney, one of the most
ardent of the independence faction. Where he was or when he might reappear
was unclear, but a rider had been sent racing off to find him. When Edward
Rutledge rescued the moment by moving that a final vote be postponed until
the next day, implying that for the sake of unanimity South Carolina might
change its mind, Adams and the others immediately agreed. For while the nine
colonies supporting independence made a clear majority, it was hardly the
show of solidarity that such a step ought to have.The atmosphere that night
at City Tavern and in the lodging houses of the delegates was extremely
tense. The crux of the matter was the Pennsylvania delegation, for in the
preliminary vote three of the seven Pennsylvania delegates had gone against
John Dickinson and declared in the affirmative, and it was of utmost
interest that one of the three, along with Franklin and John Morton, was
James Wilson, who, though a friend and ally of Dickinson, had switched sides
to vote for independence. The question now was how many of the rest who were
in league with Dickinson would on the morrow continue, in Adams's words, to
"vote point blank against the known and declared sense of their
constituents." To compound the tension that night, word reached Philadelphia
of the sighting off New York of a hundred British ships, the first arrivals
of a fleet that would number over four hundred. Though the record of all
that happened the following day,Tuesday, July 2, is regrettably sparse, it
appears that just as the doors to Congress were about to be closed at the
usual hour of nine o'clock, Caesar Rodney, mud-spattered, "booted and
spurred," made his dramatic entrance. The tall, thin Rodney - the
"oddest-looking man in the world,"Adams once described him - had been made
to appear stranger still, and more to be pitied, by a skin cancer on one
side of his face that he kept hidden behind a scarf of green silk. But, as
Adams had also recognized, Rodney was a man of spirit, of "fire." Almost
unimaginably, he had ridden eighty miles through the night, changing horses
several times, to be there in time to cast his vote...
*****
..."Unfaithfulness" was something he could not abide, and in his spells of
gloom he pondered whether the fault was in the times. Unfaithfulness in
public stations is deeply criminal [he wrote to Abigail]. But there is no
encouragement to be faithful. Neither profit, nor honor, nor applause is
acquired by faithfulness. . . . There is too much corruption, even in this
infant age of our Republic. Virtue is not in fashion. Vice is not
infamous...
*****
...Then, just as agreement seemed near, Henry Strachey proposed to amend the
line specifying the American "right" of fishing to read "liberty" of
fishing, to which young Fitzherbert declared the word "right" to be "an
obnoxious expression." The moment was one made for Adams. Rising from his
chair, smoldering with indignation, he addressed the British: Gentlemen, is
there or can there be a clearer right? In former treaties, that of Utrecht
and that of Paris, France and England have claimed the right and used the
word. When God Almighty made the Banks of Newfoundland at 300 leagues
distant from the people of America and at 600 leagues distance from those of
France and England, did he not give as food a right to the former as to the
latter. If Heaven in the Creation have a right, it is ours at least as much
as yours. If occupation, use, and possession have a right, we have it as
clearly as you. If war and blood and treasure give a right, ours is as good
as yours. We have been constantly fighting in Canada, Cape Breton, and Nova
Scotia for the defense of the fishery, and have expanded beyond all
proportion more than you. If then the right cannot be denied, why then
should it not be acknowledged? And put out of dispute? It was settled -
almost. Article III of the treaty would read, "It is agreed that the people
of the United States shall continue to enjoy unmolested the right to take
fish of every kind on the Grand Bank." However, on the matter of taking fish
along the coast of Newfoundland and "all other of his Britannic Majesty's
Dominions in America," the people of the United States were to have the
"liberty," which, insisted the British negotiators, amounted to the same
thing. "We did not think it necessary to contend for a word," wrote a more
mellow John Adams years afterward. By the end of the day there was agreement
on everything. Dining that evening at his hotel with Matthew Ridley,Adams
was in high spirits. Asked if he would have fish, he laughed and declined,
saying he had had "a pretty good meal of them" already that day. Adams
generously praised his fellow negotiators. Franklin, he told Ridley, had
performed "nobly." But to Jay belonged the greatest credit, Adams said. Jay
had played the leading part, Adams felt then and later, never failing to
give Jay credit. The following day, Saturday, November 30, 1782, all parties
made their way through still another damp Paris snowfall, again to Oswald's
quarters at the Grand Hôtel Muscovite for the signing of the preliminary
treaty. Oswald was first to fix his name, followed by the four Americans in
alphabetical order. In effect, the Americans had signed a separate peace
with the British. They had acted in direct violation of both the
French-American alliance and their specific instructions from Congress to
abide by the advice of the French foreign minister. To Adams there was no
conflict in what they had done. The decision to break with the orders from
Congress, and thus break faith with the French, had been clear-cut, the only
honorable course. Congress had left them no choice. Congress had
"prostituted" its own honor by surrendering its sovereignty to the French
Foreign Minister. "It is glory to have broken such infamous orders," Adams
wrote in his diary. "Infamous I say, for so they will be to all
posterity."...