Sonoma Housing Bubble

Pulling the cork out of Sonoma's bubbly housing foolishness

Saturday, September 27, 2008

When Uncle Sam Gives You The Finger....


Don't be afraid to give it right back to him!!!

"The more voters learn about the proposed $700-billion taxpayer-backed Wall Street rescue plan, the less they like it."

(PDF warning click --->) Highlights of the Discussion Draft Bill Currently being considered by Congress

"Just 24% of U.S. voters now favor the plan first proposed by Treasury Secretary Henry Paulson a week ago and the subject of very public negotiations on Capitol Hill ever since, according to a Rasmussen Reports national telephone survey taken Friday night."

"Fifty percent (50%) oppose it, and 25% are undecided."

"Opposition to the bailout plan has grown even after federal regulators seized Washington Mutual late Thursday in the biggest bank failure in U.S. history. Seventy-two percent (72%) say they have followed stories on Washington Mutual, including 37% who say they have been following the news Very Closely."

"Texas Congressman Dr. Ron Paul is against the current Wall Street Bailout being proposed by the Federal Reserve Chairman Ben Bernanke, Treasury Secretary Henry Paulson and the Bush Administration."

"In a speech to the Joint Economic Committee earlier this week, conservative Republican Ron Paul stated that government intervention was the primary cause for the economic meltdown in the first place and that Congress should not allow the administration to bail out the banks with the Paulson Plan."

'“This bailout is a slipshod proposal, slapped together haphazardly and forced on an unwilling Congress with the threat that not passing it will lead to the collapse of the financial system.

Some of the proposed alternatives are no better, for instance those which propose a government equity share in bailed-out companies.

That we have come to a point where outright purchases of private sector companies is not only proposed but accepted by many who claim to be defenders of free markets bodes ill for the future of American society.”'

"The Unites States Congress, which could adjourn for the year as early as this week, is now deciding the unthinkable: How to take 700 Billion dollars from the American people and give it to those on Wall Street who lied and cheated us into this financial mess. This is a discussion that shouldn’t even be on the table."

"According to the New York Times, many Americans are writing their elected representatives in the nation’s capital to voice their concerns."

"Over the last year, Treasury Secretary Henry Paulson repeatedly assured the American people that the United States economy was sound. While many suspected that the United States was facing a recession, those like Henry Paulson, President Bush, and Federal Reserve Chairman Ben Bernanke explained the downturn as our nation facing “tough times” or “difficult challenges”.

"Now, they ask the American People to believe that catastrophic danger awaits them around every corner if action is not taken now. That they did not notice this as being possible until days ago - requiring quickly written three page legislation that would put taxpayers on the hook for purchasing troubled assets - mainly mortgage-backed securities, to be signed and passed immediately."

Whether it is in his original form, or the pitiful alternatives proposed by partisans already in Wall Street's pockets makes no nevermind to me. NO BAILOUT FOR WALL ST. or loan owners who took out loans for more than traditional conforming income to debt standards.

These very fear mongers have been lying for years now, and they pull the fire alarm in the last week? Really? I am pulling the CRAP ALARM!!!

"Government intervention in the free market has artificially inflated prices for years. This has made money too easy to come by, and let banks lend to previously overly risky buyers."

"These governmental measures, combined with the Federal Reserve’s loose monetary policy, led to an unsustainable housing boom. The key measure by which the Fed caused this boom was through the manipulation of interest rates, and the open market operations that accompany this lowering."

"This lowering of prices which we are experiencing today actually brings the economy back into balance, equalizing supply and demand. However. the government doesn’t like this, and is willing to put the tax payers money on the line to keep prices artificially inflated.
We must restore the checks and balences of our financial system by saying no to another Wall Street Bailout."

Email, Fax and Call your representatives!!! (new letters from Stop The Housing Bailout)

(letter 1)


This Is A Mad Rush To Financial Judgment

On Friday we heard president Bush and Paulson, preach the same set of lies they have preached before:
* There can be no delay.
* Sweeping new Powers for the Fed are needed.
* The Treasury needs $700 billion dollars.
* There is no time to study alternatives.

Robbing taxpayers to pay failed banks cannot possibly work!

Printing money and giving it away cannot work either. If it did work, Zimbabwe would be the most prosperous nation in the world.

190+ Economists Slam Bailout

Over 190 top economists in the country have slammed this bailout on grounds of fairness, ambiguity, and long term effects.

Paul O'Neil Is Against The Plan

Former Treasury Secretary Paul O'Neill said today that our nation's leaders -- especially President Bush -- are "in a panic" and haven't thought through the $700 billion bailout plan in a rush to pass it by the end of the week.

"I don't think he understands or knows much about any of this and it shows. It is possible to re-liquefy the credit system without 'We the People' owning $700 billion worth of homes," he said.

BB&T Corp. Chief Executive Officer John Allison critiques the plan

Treasury "is totally dominated by Wall Street investment bankers" and "cannot be relied on to objectively assess" the impact of government policy on the financial industry, Allison wrote in a Sept. 23 letter to Congress.

Block This Bill

Please have the courage to stand up do what you know you must do: Block This Bill.

I cannot and will not vote for any member of Congress who votes for this bill in its current form or anything remotely close to the current form.

This insane rush to push something through, is wrong. If you vote for this bill, you will not get my vote in the next election. It is as simple as that.


(letter 2)


This bailout plan is fundamentally unfair to taxpayers.

You know, because we have expressed our outrage loud and clear.

And yet you Politicians move forward with an ill-conceived, fundamentally flawed bill!

Just know that there are consequences for your actions!

We will be posting the names of every Senator who votes for this bailout.



If you do not have internet faxing get MetroFax. 1000 pages at a very cheap price. You can afford $12.

Please fax everyone on this list.

If you do not have internet faxing get MetroFax. 1000 pages at a very cheap price. You can afford $12.
Sign up today and fax these bums your middle finger!

Sen. Richard Shelby (R) 202-224-3416 or 202-224-5137 (try both not sure which is correct)
Sen. Harry Reid (D) 202-224-7327
Sen. Jim DeMint (R) 202-228-5143
Sen. John Ensign (R) 202-228-2193
Sen. Jim Bunning (R) 202-228-1373
Sen. Chuck Grassley (R) 202-224-6020
Sen John McCain (R) 202-228-2862
Sen. Barack Obama 202-228-4260
Sen. John D. Rockefeller 202-224-7665
Sen. Dianne Feinstein 202-228-3954
Sen. Ron Wyden 202-228-2717
Sen. Evan Bayh 202-228-1377
Sen. Barbara Mikulski 202-224-8858
Sen. Bill Nelson 202-228-2183
Sen. John Kerry 202-224-8525
Sen. Daniel Inouye 202-224-6747
Sen. Hillary Clinton 202-228-0282


At 9/28/2008 09:34:00 AM , Anonymous Tom Stone said...

I got off the phone with my sister a few minutes ago.She lives in the heart of the Gold country,and spent a few hours yesterday calling every coin and bullion dealer from sacramento to tahoe in an attempt to buy some silver or gold as a hedge against hyperinflation.NONE was available.They do have numismatic coins.They would not order it for her and when she asked about future availability,they laughed.This was not "pay a premium",this was "wipe your butt with your continentals".some folks got it,good luck all,Tom.


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