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13 Sep 08 - 10:47 PM (#2439687) Subject: BS: ...and two sets of books From: dick greenhaus "On Friday, less than a week after the government took control of Fannie Mae and Freddie Mac, the White House announced that there is no reason at this time to account for the companies in the federal budget. That is great news for officials who prefer to hide the cost of the bailout since it is due, in large part, to their failure to adequately regulate the financial markets and steward the economy. But it is an insult to taxpayers, whose money is at risk, and it is a reckless gambit. The Congressional Budget Office reported on Tuesday that the government's finances are deteriorating rapidly: the budget deficit for this year is expected to reach $407 billion, more than double last year's shortfall, and to exceed $500 billion in 2009. The takeover of Fannie and Freddie, necessary though it is, will add to the deterioration." ... "The Congressional Budget Office has said that it will calculate the cost of taxpayers' risk and include it in its version of the budget, which is separate from the White House version of the budget."... (NY TImes, 9/13/2008) Anybody remember the song "Billy Sol Estes"? "He had one shining purpose, and two sets of books" Am I the only one who's outraged? |
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13 Sep 08 - 11:48 PM (#2439723) Subject: RE: BS: ...and two sets of books From: katlaughing No, Dick, I am outraged and full of amazement at what that gd bush keeps getting away with; for the life of me I don't understand HOW he keeps getting away with it. He should be tried, found guilty, and thrown in prison, along with his handlers. I wish I knew what we could do. |
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14 Sep 08 - 12:00 AM (#2439730) Subject: RE: BS: ...and two sets of books From: Peace The question I would ask were I an American is "Where the hell is Congress?" |
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14 Sep 08 - 07:04 PM (#2440392) Subject: RE: BS: ...and two sets of books From: The Fooles Troupe "I don't understand HOW he keeps getting away with it" Sadly, the '12 Gauge Solution' is deemed by Sophisticated Civilization to be Not Acceptable. |
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14 Sep 08 - 07:08 PM (#2440396) Subject: RE: BS: ...and two sets of books From: Donuel Its going to stay secret at all our peril. If China found out how desperate the dollar is right now, they would sell our treasury notes before it drops to pennies... and that would leave the USA as the not only the biggst debtor nation but one who can no longer payour debts, employ our people or keep the lights on. China will look out for themselves. Don;t count on a Chineses bailout or holding our notes for 25 years until things get better here. |
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14 Sep 08 - 07:14 PM (#2440402) Subject: RE: BS: ...and two sets of books From: artbrooks Peace, Congress is controlled by the Republicans, at least to the extent that they can stop any proposed action. |
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14 Sep 08 - 07:14 PM (#2440403) Subject: RE: BS: ...and two sets of books From: The Fooles Troupe "would leave the USA as the not only the biggest debtor nation but one who can no longer pay our debts, employ our people or keep the lights on." Remember, so you can tell your grandchildren (if you all survive) - you were privileged to live during the Fall of The 'Second Roman Empire' - well, more or less... :-P |
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14 Sep 08 - 07:25 PM (#2440410) Subject: RE: BS: ...and two sets of books From: Peace Thanks, Art. |
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14 Sep 08 - 07:44 PM (#2440426) Subject: RE: BS: ...and two sets of books From: pdq "Fannie Fallout: Who Gets Hurt? Stockholders may be upset with a $14-billion decline in the value of Fannie Mae's stock, but what may end up being more interesting is the rise and fall of careers amid allegations that the company cooked its books to justify big executive bonuses. Three of those who profited from the bonuses are Franklin Raines, Jim Johnson, and Jamie Gorelick; all three looked to be important Cabinet members should John Kerry be elected president. Gorelick has since left Fannie Mae and joined the law firm Wilmer Cutler Pickering Hale and Dorr, which is the main law firm representing Fannie Mae." {Jamie Gorelick was Janet Reno's #2 man (actually, she's a woman) in the Justice Department under Clinton, and she was the head of Fannie May from 1998-2003} |
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14 Sep 08 - 07:47 PM (#2440430) Subject: RE: BS: ...and two sets of books From: The Fooles Troupe "Gorelick has since left Fannie Mae and joined the law firm Wilmer Cutler Pickering Hale and Dorr, which is the main law firm representing Fannie Mae" That would be close to a conflict of interest... |
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14 Sep 08 - 07:54 PM (#2440436) Subject: RE: BS: ...and two sets of books From: pdq When Bill Clinton became president in Jan 1993, he made a executive order that no government management person could go into the private sector in a related are for (I think it was) seven years. The ban, therefore, only applied to George H. W. Bush officials. When Clinton left office, he made another order removing the ban and his people were allowed to scamper like hungry rats directly into the businesses they had been regulating. |
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14 Sep 08 - 08:29 PM (#2440462) Subject: RE: BS: ...and two sets of books From: dick greenhaus pdq- and what has that to do with the subject of bookkeeping? |
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14 Sep 08 - 08:48 PM (#2440472) Subject: RE: BS: ...and two sets of books From: pdq Please read question in post previous to my last one. |
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14 Sep 08 - 09:03 PM (#2440483) Subject: RE: BS: ...and two sets of books From: Ebbie If you are correct, pdq, about Clinton having removed the ban, as recently as just over a year ago Australia didn't know it. (Incidentally, I have no recollection of a "seven-year ban". Ever.) June 2007 "When it comes to guidelines to ensure ministers don't abuse their ministerial knowledge and contacts in their post-parliamentary life, Australia trails the likes of Canada, Britain and the United States, all of which impose cooling-off periods on their former politicians to ensure conflicts don't arise. "Canada's conflict of interest and post-employment code sets out detailed restrictions on what roles ministers can perform after leaving politics. The British code requires retiring ministers to seek guidance from the independent advisory committee on business appointments. The US applies a two-year ban on members of the executive lobbying in their former area of responsibility, with a five-year jail sentence the penalty if the ban is breached." |
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14 Sep 08 - 09:48 PM (#2440502) Subject: RE: BS: ...and two sets of books From: pdq Ebbie, I know what I heard because I was alive and awake at the time it happened. Using a quick Google search to make up for knowledge deficiencies seldom works well. The Clinton "7 year ban" in Jan 1993, the Clinton rescinding of the ban in Jan 2001, and the Bush era re-instituting it as a "2 year ban" are not mutually exclusive. |