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Our dilemma with Congress

December 18, 2013

Editor, OBSERVER: It was reported this week that the House of Representatives worked for only 126 days this year in Washington with 239 days off; passing only 55 bills....

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Dec-21-13 8:57 PM

I guess those who disagreed with my posts must have read all the books I mentioned, yet disagreed with all the experts and researchers.


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Dec-20-13 9:59 PM

DKexpat you are correct, however, you do not have a DKexpatertron or maybe you do. Steinernut is full of crap. The more he writes the less he says. The more he convinces us he is a looney tune in a sanitarium some where.

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Dec-20-13 9:21 AM

BTW, Steiner, neither Fannie nor Freddie were government agencies, rather GSEs – government sponsored enterprises – with shareholders and publically-traded stock. Big difference. Both are in conservatorship, not receivership (I don’t expect you to understand the difference), and 100% of their profits go to Treasury, bypassing bondholders in a very curious interpretation of federal law.

Even after they’ve paid back 100% of the bailout by 1Q2014, the feds will still control both companies. (The opposite of free enterprise.)

Unlike GM, where taxpayers took a $10B haircut when the gvmt sold its remaining stock, we’ve lost $0 in the Fannie/Freddie takeover, and have actually made money. (Fannie’s 2013 profits will be higher than any corporation in history.)

Wall Street is clamoring for those profits, so both GSEs will be spun-down by the feds over the next 5 years or so, making mortgage rates (and WS profits) return to original highs. Big banks and Wall Street win again...

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Dec-20-13 8:50 AM

Ah, Steiner, you need to expand your reading beyond Mavel Comics.

For example: All the Devils are Here: The Hidden History of the Financial Crisis (McLean and Mocera) ; The Big Short: Inside the Doomsday Machine (Lewis); Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis (Muolo and Padilla); Wall Street and the Financial Crisis: Anatomy of a Financial Collapse (US Senate Subcommittee); Reckless Endangerment: How Outsized Ambition, Greed and Corruption Ld to Economic Armageddon (Morgenson and Rosner).

Then come back and spew your nonsense.

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Dec-20-13 8:08 AM

hey judeye, your leader obama just relaxed the individual mandate for those whose policies have been cancelled .this after the famous lie you can keep your policy ! Nixon resigned for much, much less judeye.Obama caved to members of his OWN party judeye, not the repubs. the regime is making this up as he goes along. The US is now a 3rd world country. So judeye, when the repubs said the mandate was wrong, the left said c o m promise. Now it is OK when they say it. judeye, do you actually understand life in any respect after all ? this puts a huge wrinkle in the actuarial system now in place ! excellent and a dumbacrat was behind it like the New deal !thats what a lib is supposed to do ! get in govt and mess it up ! i am elated !

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Dec-20-13 7:21 AM

we have not heard from learned judeye. hey dk, you always post things in an attempt to corect the learned steiner. the guy who saved 10,000 lives and made the steinertrons. You sound like cronig. First you blame the banks and then admit that fannie and freddie played in it too. You just cant admit that the govt has given us more disaster than good times, except for the 20's. the libs have a fanatical worship of govt.

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Dec-20-13 7:16 AM

dk, it started with fannie and freddie and the politicians wanting to help the poor have affordable housing. Dk, you are getting confused like cronig and judeye are. look at what the govt did to JP morgan. they fine it after asking Jp to assume another banks liabilities.the libs have done a fne job of washing their hands of this mess. Always blaming private enterprise or "the rich" Get the govt out of housing as another bubble is a making.

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Dec-19-13 6:31 PM

They have it better than teachers.

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Dec-19-13 4:08 PM

I say give them 365 days off. Maybe we could get our freedoms back. Congress does alot more harm than good.

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Dec-19-13 9:01 AM

“…it was govt that gave us the housing bubble…”

Um, no. It was the unregulated “shadow banking system” of investment banks and hedge funds on Wall Street, structured investment vehicles and predatory lending by companies like Countrywide Financial. It was Wall Street players like Goldman Sachs, which bundled junk mortgages into securities, and touted and sold them to investors while at the same time betting against its own securities. It was Fannie and Freddie getting away from their charters and playing in the same subprime pools as Wall Street. It was ratings firms like Moody’s and S&P rubber-stamping risk assessments.

It was greed and avarice on the grandest scale, and average Americans are all still paying the price.

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Dec-19-13 8:14 AM

hey judeye, it was money that put JFK into office.some early founders were bootleggers. Jfk a beloved democrat and you want to take money out of office? I want more , more money in .citizens united was great ! money built america, not poor people or your beloved democrats. Not even the union stooges built america. No more investigations of tea party groups or hindering of them like lois lerner was want to do.those gals again. The libs have tax exempts like LWV and others and thats OK.judeye, how did you get such a backwards view of american history ? been reading leftist literature like oswald or the anarchist cookbook like that recent colorado shooter was ? you have everything wrong and think its correct. judeye, thats called mental illness. You have a serious case of it. lets hear more of your nonsense or illusions !

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Dec-19-13 8:04 AM

more nonsense from judeye. She does not know anything about anything, especially science, history and other facts.judeye, from 1820 till civil war, congress led by democrats thwarted US expansion west because the libs, caring for the people, wanted slavery. that did not work so the libs made war, then the klan and jim crow. And judeye says today is the worst congress in history. hey judeye more than a million dead and wounded from all this. Judeye are you just plain stupid or what ? dont ya know history ? read the Pope and capitalism article by Walter williams. tell me where your beloved congresss figured into this. Or where even a woman did anything. So judeye, just what is your problem ? How can you be so ignorant in the eklctrinic age( all guys ) ? all you got to do is look stuff up . why dont ya do this ? why do you believe lies, myths etc ? cant think clearly , hardening of the arteries ?what about my BTU question you keep ignoring ? Dont know anything ?

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Dec-19-13 7:55 AM

the posters are confused as to what congress should and should not do. First of all it was not an active congress that made america great or gave us what we take for granted. It was private enterprise. But after constant ranting by the libs that the business man did not build that, the govt did, the myth became accepted as reality. Thats mental illness folks. The less congress does the better. for it was govt that gave us the housing bubble and prolongued the great depression. It was govt that gave us prohibition, sterilizations and lobotomies. I am elated the congress does little if anything. Oh i forgot, congress gave us the ACA and what a disaster that is. You can keep your doctor, plan and hospital if you want an the cost will be cheaper ! Wrong on all counts. So Tim and the rest are wrong.We had term limits for the prez after FDRs great mess ups in the depression.america could not afford another dumb lib like that FDR want more govt ? Are you nuts or just a liberal ?

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Dec-19-13 7:43 AM

Worse Congress in our Country's history.

How many are millionaires? Really...and they are to represent the people? How can they do that when they cannot even relate to the lives of the middle class? How much money do they receive from industries and other groups? How many think that those industries, groups, pacs, etc really do not want anything in return?

Time to get the money out of our ballot boxes. Return to elections stop auctions.

I too have wondered how they can vote themselves a raise. Or recently voted once again to permit them to do inside trading, something you and me would go to jail if we did. Why is their pay not linked to the median wage in our Country?

Much wrong with Congress in general..and even more with this Do Nothing worse Congress in history

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Dec-19-13 12:44 AM

I agree with your statement commentor except the representativess should get one six year term and the senate is good at two four year terms. And also limits on the donations for re-election and "discretionary" funds with any balances left after term of service put into a fund to do NOTHING but pay interest on the deficit. And congressional raises tied to a national ballot measure. I can't give myself a raise, why should congress be able to do so?

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Dec-18-13 4:05 PM

If pro is the opposite of con, what's the opposite of progress?

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Dec-18-13 2:42 PM

They are all a bunch of bums!!! Term limits are badly needed. That is the only was to get them out. They shouldn't be allowed to die in office. Tow 2 year terms and out forever. The President is 2/4 year terms. If 8 years is enough for a President 4 years is enough for Congressmen and Senators!!!

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Dec-18-13 2:27 PM

The problem isn't the number of days in Washington. It's the bums occupying the seats in DC.

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