Not hard hitting enough, I'm afraid.

More please. Show all of Obama's corrupt advisers.

Still, at least they're starting. more...

Posted by: Ace at 01:46 PM | Comments (78)
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Jack Straw:

The root of this whole problem is the Community Development Act. It literally forced banks to make loans against established rules, common practice and common sense. Fannie and Freddie and other banks were the tools that carried out the mission and some, like the dual disasters of Fan and Fred were corrupt and exacerbated the problem, but that is only icing on the cake.

No amount of oversight was going to stop the process because the process was working the way it was designed, to give uncreditworthy people credit. You would have to be an idiot or a lunatic to design a law like this. Or corrupt.

It is the nature of a bomb to explode. That is its purpose. That is its destiny.

Posted by: Ace at 01:04 PM | Comments (25)
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The son of state Rep. Mike Kernell has been contacted by authorities in connection with a probe into the hacking of personal e-mail of vice presidential candidate Sarah Palin, Kernell told The Tennessean.

Pic courtesy of My Pet Jawa

Kernell, a Memphis Democrat, said his 20-year-old son David had been contacted by authorities investigating the hacking of PalinÂ’s personal e-mail account, the newspaper reported on its Web site this afternoon.

The FBI and the Secret Service started a formal investigation Wednesday into the hacking, according to the Associated Press.

Your name is Mudd.

And every derogatory tip I get about your background, I will publish.

Ex-girlfriends (or boyfriends, who knows) of David Kernell? Please contact me.

In the words of Emilio Estevez, "I'll make ya famous."

Well, you're already famous, of course. I'll just put out every goddamn bit of dirt I get fed on you, cocksucker.

Thanks to Liberrocky and thirteeen28.

PS: Reminder: This is not merely happenstance. Or coinicidence.

This is enemy action.

Obama is still a dedicated disciple of Saul Alinksy. He still admits he learned much from Alinsky's Rules for Radicals, the Bible of community organizing.

One of Alinsky's key precepts it to agitate, agitate, agitate, and stoke so much anger in the community to be "organized" that the agitator does not need to be a "leader" -- that members of the community will step forward to be "leaders" themselves, and take whatever action is necessary. If the "community organizer" radical has actually assumed a position of leadership, he's failed.

Success is defined as getting "the community" to do all the dirty work the agitator wishes to be done.

I'd say Obama is a pretty successful "community organizer," eh?

He could tell his minions to stop. But he will not. This is and always has been his goal. An angry mob of leftist hyperpartisans ready to shut down dissent, engage in harassment, and commit crimes to advance the interests of "the community."

SHOCK! David Kernell is an Illiterate Moron Who Shouldn't Be at Clown College, Never Mind University: His blog.

It doesn't even rise to the level of soulpatterns and mindthoughts.

He has been institutionalized... twice.

this page is dedicated to showing what has happend to scociety these days, now i am not going to be a hipicrit here and say im "fair and balanced" like FOX news, it is imposible to do so, we are humans and are very falable, but less than perfect is better than nothing, its much like limits in calculus, you can get infintely close to the variable but it is impossible to reach it. Also, this is intertwined a bit with my expriences because most of our behaviors are formed by scociety and our experienes. My name is David KernellI am 15 a white cacasian male i live in memphis, TN. My favorite and only hobby is chess, more like an obsession. I am not afraid to say that i have acute depression and have been institutionalized twice, one at th age of 9 in Texas and one this past year. I have been strugleing with this for my entire life and have finally come to the conclusion that being stoic in most of life's issues is of the untmost importance. i have to go to sleep now, its 2 AM here. notice, i never say goodbye or c ya

Expect him to play the crazy card to skate on all charges.

He's a Dancer? What is he majoring in, Political-Cultural Stereotypes?

...

Originally: Blogger Steals, Reposts AP Article Wholesale

If AP can steal and publish Sarah Palin's emails, what right do they have to complain?

Incidentally, Palin's emails were "hacked" -- in the loosest sense of the word -- by simply using yahoo's "I forgot my password" helper. The "hacker" simply guessed at the answer to her security question. Which was, unfortunately, what high school did you attend. And the answer was pretty easy to guess -- "Wasilla high."

AP remains in contact with the hacker:

“The person who claimed responsibility for the break-in did not respond Thursday to an e-mail inquiry from The Associated Press.”

And yet they are, as of last notice, still not complying with the Secret Service's request for the emails, despite the emails being evidence of a federal crime.

Thanks to Michael for that last one.

Posted by: Ace at 01:16 PM | Comments (444)
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Video.

Posted by: Ace at 12:52 PM | Comments (7)
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Damn, he really goes into this election with a huge lead.

Thanks to Chris.

Posted by: Ace at 12:30 PM | Comments (31)
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Earlier today Biden said it would be patriotic for the rich to pay more taxes. Later today he expanded on that concept by saying not only are higher taxes patriotic but also good religion.

“Catholic social doctrine as I was taught it is, you take care of people who need the help the most,” he said. “Now it'd be different if you could make the case to me that by giving this tax cut to the very wealthy, everybody else was going to be better off. We saw what happened the last eight years when we gave that tax cut."

LetÂ’s pause for a moment to consider the gobsmacking outrage that would ring from every corner of the MSM and the left (redundancy alert!) if say, oh I donÂ’t know, noted Christian Sarah Palin argued that her tax proposals were based on her churchÂ’s teachings.

Not letÂ’s consider how much actual gnashing of teeth there will be in this caseÂ…zero.

It's almost as if there's a bias in the media or something that explains the different coverage Democrats/liberals get versus that of Republicans and conservatives. Who knew?

Oh and now that Biden is so concerned about making public policy based on “Catholic social doctrine” does that mean he’s anti-abortion now?

Posted by: DrewM at 12:27 PM | Comments (51)
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From the NYT in 2003, but found by Astute Blogger:

By STEPHEN LABATON

The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.

''There is a general recognition that the supervisory system for housing-related government-sponsored enterprises neither has the tools, nor the stature, to deal effectively with the current size, complexity and importance of these enterprises,'' Treasury Secretary John W. Snow told the House Financial Services Committee in an appearance with Housing Secretary Mel Martinez, who also backed the plan.
...

Significant details must still be worked out before Congress can approve a bill. Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

Representative Melvin L. Watt, Democrat of North Carolina, agreed.

''I don't see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,'' Mr. Watt said.

Thanks to Larry.

Solid plan -- reduce the size of the high-risk subprime mortgages these companies were floating -- which, by the way, Fannie and Freddie execs were making millions on in bonuses, as they kept the profits while the immense and growing risk was passed on to you, the taxpayer.

So what happened?

Democrats blocked any attempt at reform. Ostensibly to keep the pyramid scheme of easy money flowing to credit poor homeowners. But largely because their big donors at Freddie and Fannie successfully lobbied them to keep their fire sale going.

WSJ: "Barney's Rubble." Engineer of an economic crisis. What the hell is he still doing chairing the committee?

Mr. Frank contends that he favored "very strong reform" of Fannie Mae and Freddie Mac, even before Democrats took over Congress after the 2006 elections. To adapt a famous phrase, this depends on what the meaning of "reform" is. Mr. Frank did support a bill that he and others on Capitol Hill described as reform. But on the threshold reform issue -- limiting the size of the portfolios of mortgage-backed securities (MBS) that the two companies could hold -- Mr. Frank was a stalwart opponent.

In fact, Mr. Frank was publicly arguing for an increase in the size of their combined $1.4 trillion portfolios right up to the day they were bailed out. Even now, after he's been proven wrong about a taxpayer guarantee, he opposes Treasury's planned reduction in the size of the portfolios starting in 2010, according to a quote attributed to him in this newspaper last week. "Good luck on that," he reportedly said. Mr. Frank's spokeswoman hung up the phone when we sought confirmation Tuesday.

The MBS portfolios have long been both the chief source of the systemic risk posed by the two mortgage giants and of the profits that so handsomely enriched shareholders and officers alike for decades. Without the extreme leverage inherent in those portfolios -- which the companies borrowed heavily, at taxpayer-subsidized rates, to accumulate -- their federal takeover might never have become necessary.

For years, Mr. Frank and other friends of Fan and Fred opposed not only bills written to limit the size of their portfolios, but any bill that in their view gave an independent regulator too much discretion to order a reduction. This was true of the reform that his House committee passed last year. Only when the White House caved to Mr. Frank and dropped its earlier insistence that a reform bill rein in the portfolios did Mr. Frank move his bill.

In his letter, Mr. Frank also repeats his familiar claim that Fannie and Freddie are vital because they support "affordable housing." This is political smoke. The awful irony of Fan and Fred is that they have done very little to assist affordable housing. Most of the taxpayer subsidy has gone to enrich shareholders and Fannie managers, as a 2003 study by the Federal Reserve shows.

The Men Who Built the Bomb: ... are all working as advisers to Obama now.

Penny Pritzker, "the Michael Milken of subprime mortgages," is Obama's Finance Chair.

Jim Johnson, disgraced former CEO of Fannie, was Obama's vice presidential search chairman, at least until he resigned under fire due to his role in providing subsidized sweetheart loans to Democratic Senators during his stint at CountryWide.

Franklin Raines, who participated in the accounting scandals to fix Fannie's books and deliver unwarranted bonuses to its top executives, is a top Obama adviser.

Corrupt "Community Organizer" organization ACORN, an institutional ally of Barack Obama, lobbied Freddie and Fannie to extend even more risky loans to credit-poor borrowers in the interest of ending "racial redlining." But they didn't end "racial redlining." What they ended was any credit-checking at all, as subprime mortgage providers simply stopped verifying self-reported claims of income and in fact ended even the most basic prudential element of a mortgage -- the down payment.

"Fannie Mae is proud to work with ACORN Housing, " said Thomas Collins, Director, Single Family Business, and Fannie Mae. By working with ACORN and lenders like Citibank, we can support their efforts to expand homeownership opportunities for underserved communities at affordable price points achieve sustainable homeownership."

In this same speech, Collins referred to, Obama, and other members of the Black Congressional Caucus which had worked so diligently to craft the time bomb that would ultimately destroy two key segments of the American economy (both housing/home construction and the financial sectors), members of "the family."

Obama Economics Adviser Austan Goolsbee continued defending and lobbying on behalf of the mortgage industry's no-money-down-no-credit-check policies at least until September of 2007.

McCain on Offense: The election turns on getting this message out. The pubic, wrongly in this instance, assumes that any Wall Street scandal is the fault of Republicans. If that assumption is permitted to stand, we lose the election.

Senator Obama talks a tough game on the financial markets but the facts tell a different story. He took more money from Fannie and Freddie than any Senator but the Democratic chairman of the committee that regulates them. He put Fannie MaeÂ’s CEO who helped create this disaster in charge of finding his Vice President. FannieÂ’s former General Counsel is a senior advisor to his campaign. Whose side do you think he is on? When I pushed legislation to reform Fannie Mae and Freddie Mac, Senator Obama was silent. He didnÂ’t lift a hand to avert this crisis. While the leaders of Fannie and Freddie were lining the pockets of his campaign, they were sowing the seeds of the financial crisis we see today and enriching themselves with millions of dollars in payments. ThatÂ’s not change, thatÂ’s whatÂ’s broken in Washington.

...

Those same Congressional leaders who give Senator Obama his marching orders are now saying that this mess isnÂ’t their fault and they arenÂ’t going to take any action on this crisis until after the election. Senator ObamaÂ’s own advisers are saying that crisis will benefit him politically. My friends, that is the kind of me-first, country-second politics that are broken in Washington.

In the upcoming debate, McCain must read aloud from a sheet of paper his plan for fixing and averting the mortgage crisis by regulating Fannie and Freddie and other subprime lenders.

Then he should set the paper down. And announce those remarks are from a speech from 2005.

And that Democrats blocked his proposal.

Your risk, their reward. You put the money into their corrupt pockets which they then in turn donated to Chris Dodd, Barney Frank, and Barack Obama, who in turn dutifully kept the gravy train chugging along.

Congress Adjourning! Harry Reid admits he has no idea what to do. So he's packing it up, leaving yet another crisis on the table for more responsible people to figure out.

Actually, Harry Reid and the Democrats always knew what to do. They knew the problem was this trillion dollar giveaway to credit-poor homebuyers. They further knew that by making money for homes so cheap and so artificially plentiful, they were driving up the cost of homes to astronomical levels. That's the way it works -- the more cheap, devalued dollars chasing after goods, the more the good rise in price.

Ultimately people who were simply not credit-worthy enough to buy houses at all were not merely buying houses -- they were buying houses that were well beyond their means to purchase even in a normal market, but furthermore, were inflated in price to double their fair value. So ultimately these legions of bad-credit-risks found themselves paying mortgages valued at 150% or 200% or even more of what their actual homes were worth.

So what did they do? They did what anyone would do: They walked away from the mortgages.

They both hyperinflated the housing market and created the bubble, and put the American taxpayer on the hook for all the excesses they created. And would not check -- because they were too busy appeasing ACORN and taking money from Fannie, Freddie, Lehman Brothers, AIG, and Raines, Johnson, and Pritzker.

They created the housing bubble. They created the financial meltdown -- which occurred, inevitably, when the bubble burst.

And now they want to go home.

And they should. We don't need any more of this sort of wisdom.

Posted by: Ace at 11:27 AM | Comments (95)
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Sort of. It's a guy going by the screenname "rubico." I imagine the Feds can figure it out from there.

And he says "Anonymous" and 4chan aren't really responsible as groups.

In fact, one of them sent a warning to the Palins to change their email passwords.

What would be awesome would be to find that this "rubico" is one of Obama's cultists. Inspired by the Obama Action Wire tactics to commit a crime on behalf of his God.

Posted by: Ace at 11:10 AM | Comments (72)
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Posted by: Gabriel Malor at 07:05 AM | Comments (60)
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Hey, Obama...people are starting to notice:

Here's how it works. A message goes out over Barack Obama's Web site with the names, phone numbers and e-mails of editors and producers foolish enough to host Obama critics. With Mr. Obama's extensive digital following, and his extensive fund-raising and contact lists, shutting up the Democratic nominee's critics with a fraction of Mr. Obama's millions of supporters is relatively simple. The digital legions plug phone lines, crash servers and intimidate the advertisers of these media outlets. This must be another instance of the "new" politics that Mr. Obama frequently talks about.

Treacher:

"This is not free speech. This is not "people expressing their opinion." This is people expressing Obama's opinion. This is a powerful politician arrogantly abusing his power to try to silence his critics, without even bothering to hide behind Media Matters or Kos, because he knows he can get away with it. This is wrong."

One of the great ironies of this election is that liberals are worshiping a guy who embodies everything they claim to hate about the Bush administration.

"Get in their Faces!" [ace]: Obama exhorts his cultists to do more of this.

Posted by: Slublog at 05:44 AM | Comments (160)
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