Republicans and the PLD destroying the USA and Dominican Republic!

"Dominican banks and the financial system as a whole breathes a deep sigh of relief. "

That sigh is premature to say the least.

Wachovia’s ... [ now Citi ] ... receives most of the Dominican banks’ deposits in dollars.

The last thing the Dominican banks need is a wallet-snatching and purse-snatching thief like Citigroup in possession of their precious foreign exchange deposits.

If Citi gets the money from the bourgeois US regime to cover the Wachovia's Dominican liabilities, Citi will steal the money.

But it's unlikely that the bourgeois US regime will guarantee Washovia's Dominican liabilities. The US regime is looking for a loophole to get out from the Dominican obligations.

If somebody expects Citi to guarantee Wachovia's liabilities, then they don't know Citi.

Citigroup theft from customer accounts

On August 26, 2008 it was announced that Citigroup agreed to pay nearly $18 million in refunds and fines to settle accusations by California Attorney General Jerry Brown that it wrongly took funds from the accounts of credit card customers. Citigroup would pay $14 million of restitution to roughly 53,000 customers nationwide. A three-year investigation found that Citigroup from 1992 to 2003 used an improper computerized "sweep" feature to move positive balances from card accounts into the bank's general fund, without telling cardholders.

One month later, on September 29, 2008 it was announced that Citigroup will acquire the "banking operations" of Wachovia Corporation, via an all-stock transaction, with the aid of "FDIC loss limitations." According to the FDIC, the Wachovia Corporation "did not fail" and will continue to operate as a separate, publicly traded company as the owner of Wachovia Securities, AG Edwards and Evergreen Investments

"The FDIC has entered into a loss sharing arrangement on a pre-identified pool of loans. Under the agreement, Citigroup Inc. will absorb up to $42 billion of losses on a $312 billion pool of loans. The FDIC will absorb losses beyond that. Citigroup has granted the FDIC $12 billion in preferred stock and warrants to compensate the FDIC for bearing this risk."
http://www.fdic.gov/news/news/press/2008/pr08088.html

"All depositors are fully protected and there is expected to be no cost to the Deposit Insurance Fund. Wachovia did not fail; rather, it is to be acquired by Citigroup Inc. on an open bank basis with assistance from the FDIC."
http://www.fdic.gov/news/news/press/2008/pr08088.html

oooo

So, "All depositors are fully protected," FDIC assuages.

The FDIC has a sense of humor.

The House has defeated the $700 billion bail-out legislation for the financial industry.

Dow Jones drops approximately 500 points in mid-day trading on bailout plan passage fears.

This creates a new situation.

Boy oh boy.

Wow!

GC and Tex are probably trying to figure out how to blame Franklin Raines for the failure of the $700 billion handout to pass in the House.

Speaker Nancy Pelosi had three goals with regard to the 700B handout to the financial sector of the bourgeoisie.

(1) Defeat it

(2) Deny the gops a campaign issue in November

(3) Blame the gops for the failure of the handout to pass.

Pelosi achieved all three goals.

She displayed political genius.

She is unbelievable.

The gops know Pelosi beat them, but she never could have beaten the gops without the support of gops. Once she had the support of gops who opposed the handout, she only needed a minority of Democrats to oppose the handout in order to defeat it.

She found her anti-bill gops and her minority of anti-bill Democrats.

She rigged it brilliantly.

Georgie the Yale MBA, John McLame and REPUBLICAN FREE MARKETERS plunge the Market 700 plus points!

Correction - 777.68!

VOO DOO economics has come home to roost so much for the Regan Revolution!

"VOO DOO economics has come home to roost ..."

oooo

Even the obeah man, an expert at voodoo in the Caribbean, has abandoned voodoo economics.

Voodoo economics is gop economics.

And the obeah man wants no part of it.

60% of the gops in the House voted against the handout to the rich.

60% of the Dems voted for it.

So, which of the bourgeois parties in the House is MOST responsible for today's defeat of the handout to the rich?

Wow, you guys are spot right on.... But...something is missing?

Where is GC (GouletColonial) from Canada. IWhen GC reads these posts ...then he is going to set you guys straight!

We had the largest one-day Wall Street point drop in history! We had the biggest percentage drop since Reagan in '87 from voodoo economics of "borrow & spend on non-value added items". We have had 8 years of "less Gov & less regulation" along with cut taxes (lower Gov revenues) but spend into a deficit outside the US (i.e. Iraq $10B/month) while bridges collapse on US commuters & infrastructure decays. The Republican controled legislature is longer than 8 years.

GC, the GOP's said they would make history but WOW! The foreigners continue to buy US Notes during the downturn...maybe the GOP master plan is to leave them with worthless paper? But, then what price do we as Americans have to pay?

Hey guys, McLame & sexy Palin will save us? But not even sexi legs can't reverse Mac's (ED).

777 means a new begining (The dow bottom today)

1776 plus the first year is 1777

jewish holiday ends wednesday

I bet no deal til the 7th

go to google video:

manly p hall- ihs symbol

napoleon hill - the carnigie secret


you are now set free...................................feel free to get up and move about the cabin........................

Sept. 26, 2008

http://www.miamiherald.com/news/americas/story/702208.html

BEIJING -- President Hugo Chávez of Venezuela Thursday described the U.S. economy as ''a sinking ship'' in the final throes of capitalism.

Chávez met with Chinese entrepreneurs and told them, ''The next president of the United States is going to receive a sinking ship.'' .

At the news conference, Chávez read sections from Bush's address to the nation Wednesday night in which he warned that the U.S. economy could face ''a long and painful recession'' if Congress doesn't act quickly on a $700 billion bailout .

''The U.S. model of capitalism is collapsing,'' Chávez said. Chávez interrupted a U.S. reporter asking a question to say, ``Where do you have your savings? In dollars? Get them out of there.''

He later approached the reporter to say he hopes the economic crisis in the U.S. ''doesn't affect the American people, a people we love a lot.'' He said he has a nephew in the Los Angeles area.

"Where is GC?"

oooo

In the cave where he belongs, although his presence horrifies the bats and snakes.

When GC leaves the cave, he glorifies capitalism. But we must let him out from time to time, for otherwise the bats and snakes would go crazy.

"GC, the GOP's said they would make history but WOW! "

oooo

They're right. They made history.

Today's 777-point stock market drop is the biggest in history.

I hope tomorrow's drop doesn't break today's record.

"Hugo Chávez ... Thursday described the U.S. economy as ''a sinking ship."

oooo

Many people are already jumping over board and swimming away before the ship goes down and sucks them under.

Chauncey is running to every ATM he can find to get his money out and the two TEXANs are assisting in driving his Rambler Nash while the other is on the lookout for Black Helicopters!

I don't know about you guys but I am starting to worry about our local Republican Kool-Aid drinkers even Mark Levin did not have the guts to do his radio show on WABC New York this evening!

Josean:

Where in the hell did you come up up with a nash-rambler/

I haven't heard of those cars for ages.

My Dad had a 1951 Nash Ambassador his pride and joy.

When I was a kid I was embarrased to be seen in it.

Now I wish I wouldn't have sold it for 250.00

Actually Chauncey's daily driver is a AMC PACER you know he likes to be seen!

But I understand he saving his pennies for his dream car a Pontiac Aztek, a really attention grabber with the ladies!

Historically, the gops have suffered from a condition called chronic buck passing syndome.

But yesterday the gop leaders in the US House of Representatives exposed the syndome at a stage of virulence never seen before.

The gop leaders argued that the gop rank and file in the House don't listen to gop leaders, rather the gop rank and file listens to Democratic leaders and Speaker Nancy Pelosi, the top Demoratic leader in the House, offended the GOP rank and file by speaking the truth. So, the gop rank and file decided to opposed a deal jointly reached by the gop leaders and Democratic leaders.

Talk about buck passsing! Or is this butt-passing?

Mortgage-backed seurities are bonds based mostly on US home mortgages that are EITHER (1) fixed ... OR ... (2) non-exorbitantly adjustable ... OR ... (3) exorbitantly and predatorily adjustable.

If the mortagages were EITHER (1) fixed, that is, the monthly mortgage paynment didn't go up at all ... OR ... (2) non-exorbitantly adjustable, that is, the monthly mortagage payment rose only somewehere between 25% to 150%, THEN the mortagages are still good and the bonds based on fixed and/or non-exorbitant mortgages are still good.

But what if the monthly payments by the homeowner on the mortgage rose something like 300% to 500%? That's a predatory adjustable mortgage or, in other words, a "subprime."

The lying US capitalist press and the bourgeois US slime and capitalist trash insinuate that predatory adjustable mortgages are not "subprime," rather it is, bourgeois slime say, some borrowers and homeowners who are "subprime" because they can't keep up with predator mortgages.

p. 2 of 3

Bonds based on predator mortgages are worthless and the main cause of the current cash flow crisis.

These worthless bonds based on predator mortgages were sold to central banks to absorb the currency reserves of whole countries, to hedge funds, mutual funds, pension funds, investment banks, commercial banks, individual investors, etc., by the lying, cheating, no-good, low-down, dirty financial sector of the US bourgeoisie or, more correctly, by an racketeering element of the financial sector of the US bourgeoisie.

These bonds have robbed many countries of the currency reserves.

This racketeering element in the financial sector had enough common sense to know that even most "PRIME" borrowers can't keep up with 300% to 500% increases in their monthly mortgage payments. So, it is moronic to expect the working class and lower middle class borrowers, so-called "SUBPRIMES," to keep up with 300% to 500% increases in their monthly mortgage payments.

p. 3 or 3

Of late, even the lying capitalist press shows a slight recognition for the key difference between "subprime borrowers" and "subprime mortgages and subprime bonds."

The latter ... the "subprime mortgages and subprime bonds" ... have design flaw deliberately built into them that causes them to blow up at given time, independently of the creditworthiness of the borrower.

Promising a whopping 300% to 500% increase in monthly mortgage payments of homeowners, bonds based on predatory adjustable mortgages sold at a 25% premium above bonds based on either fixed or non-predatory adjustable mortgages.

Again, promising a whopping 300% to 500% increase in monthly mortgage payments of homeowners, bonds based on predatory adjustable mortgages for a time paid a return on capital of between 6% and 10% while bonds based on fixed and non-predatory mortgages promised a return on capital of only something like 4% to 6%.

POLL......................................DATE OF POLL ...LEADER

Gallup Tracking................... 09/27 - 09/29........Obama +6
Rasmussen Tracking.........09/27 - 09/29....... Obama +6
Hotline/FD Tracking............ 09/27 - 09/29........Obama +6
GW/Battleground Tracking 09/24 - 09/29.........Obama +2
CBS News/NY Times......... 09/21 - 09/24....... Obama +5
FOX News..............................09/22 - 09/23........Obama +6
Marist......................................09/22 - 09/23 .......Obama +5

Today, one day after the 700B giveaway failed to pass the House, is the first time in the campaign that Obama has led McCain in ALL SEVEN of the major gop or pro-gop polls.

[Assume that each of the 7 gop or pro-gop polls understate Obama's lead by 5 points.]

6 of the 7 polls purport to be national polls and one, GW/Battleground Tracking with a 2% Obama lead, purport to show the standing of Obama and McCain in battlegrounds or states where the race in close.

Like the Obama-McCain debate last Friday, this Friday's debate between Palin and Biden will have a huge effect of the spread and depth of the numbers.

The gops got to get a bailout through congress and on Bush's desk before Friday's VP debate or else McCain may be toast.

Come on, Nancy, sabotage that handout once more.

P. 1

THE REACTIONARIES ARE LITTLE STUNNED BY THE GOP AND PRO-GOP POLLS SHOWING OBAMA WITH A LEAD OVER McCAIN. THIS IS HOW RUSH LIMBAUGH AND A CALLER DEAL WITH THE POLLS.

0000

CALLER: Well, it feels good. But I'm still so frustrated, Rush. All the polls are like trending towards Obama now. He's in danger of losing Virginia. You have a big jump in the Gallup poll from yesterday to today. That means basically the people did not look well on McCain's, you know, quote, stunts. You know, they're viewing it how the Democrats have put it out there as a talking point.
...

RUSH: I was setting up the question. Election is in 39 days, a little over five weeks. Honestly, now. Five weeks from now, how much of what transpired this week will they remember, do you think, the voters?

con"t

P. 2

CALLER: Well, I'm not sure. I'm not sure how it's going to go. If the economy is still one of the top issues, which it will, but of course the Democrats are going to continue to hammer stuff like this, it could go poorly for McCain. I'm just not sure how it's going to go.
...
RUSH: Nobody knows. We don't want to get defeatist. I think it's a dangerous cycle to get caught up in daily tracking polls.

CALLER: I understand that the media is trying to --

RUSH: I know.

CALLER: -- trying to cause us to be desperate and despair and all this with their playing with the party affiliation and all that. I know that they do that. But I remember a long time ago you said that Obama is unelectable. Do you still believe that?

RUSH: Yeah.

CALLER: Cheer me up, Rush. Cheer me up.

CON"T

P. 3

RUSH: You're talking polls, can I remind you of something that happened earlier this week and late last week? We've got a three or four-day barrage of national and local media --

CALLER: Right.

RUSH: -- in blue states lamenting the sad fact that one-third of white and blue-collar Democrats just won't vote for the black guy.

CALLER: I know. I know. And some of the blue states are trending towards --

RUSH: Purple.

CALLER: -- towards McCain, like Pennsylvania, Minnesota, Wisconsin, even Michigan is fairly close.

RUSH: Look, now, there's still a huge spread of 14 points in Rhode Island. Rhode Island, you know, Vermont, Jr.

CALLER: Right.

RUSH: But it's down from 20 or something like that. The point is with polls you can find, if you go deeply enough into the internals you can find whatever you want. All I know is this: The bloom is off the Obama rose. The aura, whatever he was to people, however he was exciting people, that's gone.

"CALLER: Cheer me up, Rush. Cheer me up."

OOOO

The caller tearfully begs Rush to cheer her up with a devious interpretation of the gop polls after ALL of the major gop and pro-gop polls show Obama with a lead.

Rush cheered her up by pointing out the difference between blue and purple, but Rush didn't seem to cheer her up very much.

Yesterday, the GW/Battleground Tracking Poll showed Obama trailing McCain in battleground states by 2 points. Today, the same gop poll shows Obama leading in battleground states by 2 points.

When explaining what is going on in the US now to my friends in the DR, I said there is major failure happening on the scale that Banniter was for the DR. The difference is every congressman faces reelection in 5 weeks. The average working class person on the US understands one thing. They will be hurt either way bail out or no bail out. As far as they are concerned this bailout will only allow the rich that are about to be made into working class stiffs stay rich.
The average person in America does not fear hard times because that is the norm. But they fell that if hard times are coming then let those that caused them try to compete for a non white collar job with the MBA in hand.
I can see now the MBA asking would you like a turnover with that.

The conomy of the United States is in decline, no bank is safe of the conomic colapse unless the goverment does something promptly. Wachovia was one of the safest banks for working families and nobody saw their colapse coming, the same happened with WAMU (Washinton Mutual). Is time for Americans to tigh their belt for wath is coming, because things can get serious.http://nicolasdelvalle.wordpress.com/

"The average working class person on the US understands one thing. They will be hurt either way bail out or no bail out," jonbonz perceptively observes.

oooo

Yes, exactly.

The bailout makes sure certain bourgeois parasites are not hurt, not working class people.

" Is time for Americans to tigh their belt," ndelvalle advises.

0000

And lose some of the excess fat.

Tighten our belts? That is NOT was GC sayS! BTW, where is GC?

It's time 2 fess up - not even House Reps support the bill as Speaker gave a DEATH-BLOW! But notice Obama is a class-act by supporting what's best 4 the country aside from partisan politics. Lying McLame said 12 days ago - "the economy is sound! What the #$%@! He also DELIBERATELY LIES that Obama will raise taxes.

The bill failed cuz the Treaury would get a $700B credit line to buy bad mortgage bundles. Now our DEBTOR nation sold a very high % of these securities to FOREIGN INVESTORS & WALL ST investors looking 4 HIGH yields (by taking more risk). Now both could sell them back 2 the US Gov at tax payer expense, the $700B program will be monitored by a PART-TIME person and the so called salary limits for CEO's of BANKING FIRMS involved are into the hundreds of millions of dollars (but showed NO MERCY on FORECLOSURES). Still, Paulson says its a good plan but man Dems & Reps don't want to be voted out!

GC?

"Now our DEBTOR nation sold a very high % of these securities to FOREIGN INVESTORS & WALL ST investors looking 4 HIGH yields (by taking more risk). "

0000

Here's the presupposition that pervades the 700B handout to the financiers.

If you're bankrupt or insolvent or broke, then to get out of the tight spot, you should become more bankrupt, more insolvent, and more broke.

But here's the catch.

Right now, the investment banks, the commercial banks, the hedge funds, pension funds, and mutual funds are bankrupt, insolvent or broke and can't borrow cash.

After the 700B handout, these bourgeois-managed financial institutions will be flush with cash.

But the bourgeois state in Washington will be, after the 700B handout, more bankrupt, more insolvent, and more broke, but it may still be able to borrow.

So, the bankrupt economy rests on the handouts of a bankrupt regime in Washington as long as this bankrupt regime can still borrow cash for the handouts.

http://www.abn.info.ve/go_news5.php?articulo=151361&lee=17

Caracas, Sept 30. ABN.- Venezuelan President Hugo Chávez said Venezuela and its solid economy with its economic growth at 7.1% after 19th consecutive quarters of growth above 6% , and with more currency reserves in the central bank than ever in the country history, is ready to face the current world financial crisis.

“Thank God the Bolivarian Revolution arrived timely in Venezuela,” he said.

He said the crisis is an issue that can't be avoided during the meeting that he will hold with Lula da Silva from Brazil, Morales from Bolivia, Rafael Correa from Ecuador.

“While neoliberalism is plummeting, we have to move towards integration, unity, and - in a very concrete manner,” he said.

Chávez pointed out “the less we are bound with the International Monetary Fund and the World Bank, the better we will be. Luckily... We cut loose from that death wagon years ago.”

October 1, 2008 -- Quinnipiac University Swing State Poll


Florida: Obama up 49 - 43 percent pre-debate and 51 - 43 percent post-debate;
Ohio: Obama up 49 - 42 percent pre-debate and 50 - 42 percent post-debate;
Pennsylvania: Obama ahead 49 - 43 percent pre-debate and 54 - 39 percent post-debate.

Pre-debate surveys ended at 8 p.m. Friday with post-debate surveys Saturday-Monday.

http://www.quinnipiac.edu/x2882.xml?ReleaseID=1218

0000

So, in other words:

In Florida, Obama picks up 2 points to get 51% after the debate while McCain remains stuck at 43%.

In Ohio, Obama picks up 1 point to get 50% after the debate while McCain is struck at 42%.

In Pennsylvania, Obama picks up 6 points to get 54% after the debate while McCain drops 4 points to 39%.

Instead of swing states, perhaps we should now call them swung states.

p. 1
OBAMA now makes the distinction between "subprime" borrowers and subprime banks, mortgage companies, and investment banks who put a design flaw in some mortgages, causing them to blow up.

Rush Limbaugh snapped to this new development.

0000

RUSH [LIMBAUGH]: By the way, Obama, changing subject here from Bush. July 29th, 2008, Barack Obama, before the National Association of Latino Elected and Appointed Officials -- and we've got this in our archives. I just didn't want to pressure Cookie to find it now. I was just reminding them; we could do it tomorrow. Two minutes 45 seconds into his speech. "For eight long years Washington has not been working for ordinary Americans or for hardworking Latino Americans. Few have been hit harder than Latino Americans and African-Americans. You know what I'm talking about, the people like the couple I met in Las Vegas who were tricked into buying a house they couldn't afford and are at risk of facing foreclosure."

Here's more of RUSH's crap.

oooo

"This was part of his stump speech that you poor people who have these houses you can't pay for were tricked into buying a house you couldn't afford. They weren't tricked into it. Now all of a sudden Obama is dropping this, but April 2, 2008, AFL-CIO. Think about it. The top mortgage lenders spend $185 million lobbying Congress, and we wonder why Washington looked the other way when they were tricking families into buying homes they couldn't afford. If anybody did the tricking, Obama, it was you, and it was the Democrats in Washington. Barney Frank, Chris Dodd, Franklin Raines, Jim Johnson, your advisors, ACORN, these were the ones tricking people. Tricking people into buying mortgages they couldn't afford? So you admit that this shouldn't have been done. Is that right, Obama?"

http://www.rushlimbaugh.com/home/....93008/content/01125111.guest.html

Rush Limbaugh is the GOD of buck-passing gops; so, US reactionaries grovel and bow before Rush like dogs.