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Geithner's $3 Trillion To The "Securitization Market"

Posted by Toddy Littman on Wednesday, February 11, 2009 1:00:00 PM
Welcome to TARP as it is intended, or at least that is the story:

"Treasury Secretary Timothy Geithner announced plans that would make available $3 trillion dollars to the student, commercial mortgage, credit cards, SBA and auto loan securitization markets. This is part of Geithner speech to outline the use of the rest of the $350 billion Troubled Asset Relief Program (TARP) money."

Opening paragraph of the story here:  http://www.structuredfinancenews.com/news/190065-1.html


No need for commentary for this one, hahaha


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Spread The What Around?

Posted by Toddy Littman on Thursday, December 11, 2008 12:00:00 AM
Between the 700...oops I mean the 850 billion dollar Tarp bill (150 billion in "Christmas trees") and the amount the "big 3 auto makers" are looking for -- 15 to 75 billion -- as well as the states and their billions they need -- California looking for 15 billion -- it occurred to me: Haven't we already spread the wealth around?

Someone pinch me! How is it that there is any wealth left with a 1 trillion dollar deficit?

Consider also that the labor unions have to give concessions to save the big 3 auto makers.

Yep you read that right, the labor unions....oops again the one union for 3 businesses, United Auto Workers, whose whole purpose is to provide a voice for the auto worker, not dominate these companies and determine their survival, is the key to whether the big 3 get bailout money. Apparently the unions have possession of the wealth that GM, Ford, and Chrysler were built upon, and, hold the future of the employee and employer in their hands. the UAW the balancing fulcrum of social order.

Do any of you remember voting for the government and business to be subservient to the unions as the leaders and sole arbiter of our nation's economic future, and thus our nation? I sure don't. Last I knew we are a capitalist nation, built on our own work and not as laborers forever but to eventually be owners ourselves, employing others. We owned our farms, owned our livestock, our land, we had real property in the idea of reality. Renting was looked down on as a waste of money because of the lack of equity as renting is not an investment where we build equity that we can use to pursue and fulfill our dreams.

Those days have fallen to the wayside with the consumer economy, driven by the internet to an endless payment plan for access, and not even guaranteed access. We sign a one sided "End User License Agreement" where we have no rights at all but are to be subjected to making payment, irrespective of performance by those providing service.

Everywhere you look there is a redistribution of wealth from those who have any to those who are too incompetent to have any and generally because of government support and pursuit of "jobs." and this is irrespective of there being to many jobs where people do almost nothing but get a paycheck. Humorously if it wasn't so sad, these people lose their job and it's everyone's fault but their own. We like to think of ourselves ad productive, we build this wonderful story of ourselves that we tell to others but, in the end, we are producing little and paid far more than what we are worth because, in all honesty we do just enough not to get fired and just below as much as we could so we don't "show up" our fellow employees.

A little honesty about the "job" environment is a good thing. This reveals just how far we've come along to be less than our forefathers when it comes to wealth, real wealth. See when you realize this you know wealth has already been redistributed, and now the 700 billions and the 150 billion in "Christmas trees" added to that, along with the auto bailout and the "stimulus packages" too, you can see wealth redistribution has also already failed.

Make sure to act accordingly over these next 4 years when you hear the President-Elect and Congress wanting to enact legislation to "tax the upper 5 percent" to give money to those with less, for, you'll see the tax is being applied to the very people we've been giving money to, the banks and GM, to save their businesses, their industries, and of course the all important "jobs." It's rather obvious these "wealthy" people who are proving far less wealthy than the American people as a whole.

To me, the cars should be free if we own "the big 3" auto makers, and, we should be paying no interest on loans and have no deductible on insurance since we own the big players on Wall Street and AIG the big insurer as well. I mean, what owner pays for the use of their company products with cash out of their own pocket?

Thank you for reading.
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Simple Tax-Free Solutions to the "Economic Crisis"

Posted by Toddy Littman on Wednesday, November 19, 2008 3:00:00 PM
Jan 20th 2009 can't come fast enough it seems, for Obama or the rest of us.

In many ways it's "let's get this show on the road" mostly because of all the uncertainty about him which I view as defiance, a defiance that we decided we don't care about. We appear entirely numb to the idea of a candidate being unwilling to be transparent, to be open and honest during their campaign as indicative to the type of government they will run -- and this does not include all policy done for the mere "photo op" aspect of it. I discuss Obama's defiance to us here http://changingwind.org/index/news.php?item.18.8

Let's expand this a bit. Bush helps Obama ring in socialism. The crux of the Paulson Bailout is abandoned, and instead the government is buying preferred shares (mostly) in financial institutions, instead of buying the elusive (and illusive) "illiquid paper" on their books, this was the gist of the plan described to the American People and protested against, yet in the end, how the Bailout was sold to America irrespective of the desires of the American People. Understand that Paulson has only spent around 290 billion of the 700 billion and is trying to leave the balance of the funds available to Obama.

Remember Paulson claimed an extreme urgency to getting this 700 billion initially, and how this may not be enough. For me this was an obvious "bait and switch" when I heard the money won't be available to Paulson until 4 weeks later. This was right after the bailout proposal was claimed as passing. I discuss this wonderful sensation of being had here: http://changingwind.org/index/news.php?extend.3.8 and I also explain why the Bailout Bill is illegal here: http://changingwind.org/index/news.php?extend.2.8

So now as we wait for the beginning of the Obama Administration of "change," let's propose some ways Obama doesn't need to spend a dime of the 410 billion dollars Hank Pauslon is saving for Obama:


Preface/Preliminary

First, if you do not know how the federal reserve system works, what I have to say here probably won't make sense. I suggest getting a copy of the American Bankers Association book entitled "Focus On The Bank Director" which has a great illustration of how the federal reserve system works within the first 10 pages.


Solution 1

This understanding of the Federal Reserve System is important because buying a home on credit started from a solid foundation with principled lending practices via the 25% deposit. Funds deposited in an account, generate more funds through a series of lending transactions. For example the bank lends out 90% of the deposit and 10% is retained (the reserve), well that lent amount is then deposited again and the next bank does the same with it. This occurs over and over from bank to bank, diminishing the amount lent while accumulating a reserve equal to the original deposit. This process continues until there is nothing to lend out, but the accumulation of the reserves between these banks equals the amount of the initial deposit, which it then replaces so you can use your deposit however you wish. You can see why banks encourage lending. The total amount lent out exceeds the initial deposit value, which is what affords the home having that value tied up as equity for 30 years.

If homeowners right now who either have a sub-prime loan or own their home outright were to quit claim 25% of their home to the bank and not on debt but instead on condition this is assessed, monetized, deposited into an account at the bank for 90 days, and, that the bank quit claims the 25% interest in the property back to the homeowner at the end of 90 days, a great amount of credit would be generated in the local community. This credit would accommodate the equity (value) in that home while affording the needs of the local economy, thus supporting the equity held in all the properties in the area. Of course I would only do this after discussing it with the bank, they might think I'm nuts but it's how the federal reserve system works to assure there is enough currency flowing to accommodate the rise in price and our desire to spend while providing a means of retention of equity in fixed (or hard) assets.

The reason this will work is the bank is monetizing the 25% property interest into a deposit without a debt because the 25% is actually given with a non value proviso (debt free). This is an all positive capital infusion by the monetization of this 25% interest in the homeowner's property that is then deposited into an account in the federal reserve system, which, by processing, regenerates the initial deposit, meaning the bank can take the money back out and return the interest in the homeowner's property after the federal reserve process has completed (usually 90 days or less). Understand this is not done to "make money" it is done to infuse much needed liquidity to support local economies and fixed asset values.

A Biblical reference to this is Jesus using 6 loaves of bread to feed the multitude. He did not manifest bread for all from nothing, he needed something to multiply the quantity of. Like the soldier whose ear was cut off and Jesus picked the ear up and re-placed it. He never grew an ear where there was none before, nor legs where there were none before, nor had he manifest eyes in the eyeless to see, etc. His was to take what has been given what had come to exist already and as Christ re-grew, re-established these things from God in their purest state to mend what was broken. Our financial system and economy lack their original purity, and it is this return that is necessary for stability. This is also true of our American government.


Solution 2

Another solution is a bookkeeping modification to allow banks to depreciate these "illiquid assets" by 20% once they are worth less than 20% of original value. The rule would further allow this depreciation to be immediately posted as a lendible asset on the books of the bank. This would untie, "thaw," those frozen credit lines, essentially allowing for renegotiation of that equity through new lending. Over the course of about 2 years, if the economy doesn't bounce back quickly, the bank will be able to write off that illiquid asset and renegotiate the entire amount of funds which was subject to total loss previously. This could also be a rather powerful bookkeeping procedure in regard to credit default swaps (derivatives) should that become a more important part of the discussion due to it's potential collapse resulting in an estimated 55-65 trillion dollar hit to the U.S. and World Economy.


Summary

The above solutions could be done together which would certainly revitalize our entire financial system quickly, almost instantaneously. However it will take a sense of country first which means to make certain to use whatever devices are at our disposal to assure the continuance of free market capitalism. If you do not know capitalism is necessary for freedom I strongly suggest you pick up a copy of Ayn Rand's Capitalism: The Unknown Ideal to assist you. You'll find articles by Al Greenspan in there as well, to help better understand his willingness to be the current fall guy when it is very clear his lack of regulation was mandated by a Congress where liberals did not want to do anything that would hinder FreddieMac and FannieMae so long as they lined the pockets of democrats (Note: The Federal Reserve never had power over FreddieMac and FannieMae, as "quasi" government agencies, they had their own agency powers by the same authority that empowers the Federal Reserve Board, a legislative stalemate that could only be solved by an act of Congress granting the powers to the Federal Reserve.)

I must say it will certainly be "change" for any far left liberal democrat with everything Obama has going for him to not spend 500 billion of the 410 billion Paulson is leaving him, if you know what I mean.


Thank you for reading.
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George Soros - French Criminal and World Dictator

Posted by Toddy Littman on Friday, November 14, 2008 10:00:00 PM
Of course liberal Congress needs to hear from their most noted funding source, George Soros, responsible for the organization of 70 millionaires and billionaires to assure Obama's win (http://www.nraila.org/Issues/Articles/Read.aspx?ID=322)
and to do all they can to put an end to the greatest threat to those who use wealth as a means of dictatorship: gun ownership, irrespective of 2nd Amendment Gun Rights in America.


A Little History

I won't go into one of my long winded discussions of the man who told the poor people of Rosia Montana village in Romania they don't get to own 20% of a thriving gold mine while George Soros has competing gold holdings.  This is after his Open Society Institute destroyed 10 years of work to open the gold mine this village of impoverished Romanians would own 20% of and greatly looked forward to, http://reportfromrosia.com/?m=200707.  A more detailed account of the entire affair is here, http://www.postchronicle.com/cgi-bin/artman/exec/view.cgi?archive=46&num=121582.

A Canadian Firm had invested close to 300 million dollars over the last 10 years to open the Rosia Montana Mine in Romania, cell phone tower licensing was in the works since there aren't any towers in the area, however Soros, using the Ministry of Environment, brought their environmental review to a halt indefinitely.  They haven't been denied nor approved, the process just halted.

Soros has been personally responsible for contributing 100s of millions of dollars to various "former soviet block" nations in his "philanthropy."  Few realize Soros is merely throwing money at governments and "almost governments" with almost no economy or stability short of bribery and corruption.  But these are also nations Soros has precious metals or other interests in and will protect from any competition, even if it means starving a village of Romanians further.  Russia used to mine this particular Rosia Montana Mine but after the fall of the Soviet Union the mine has not been worked.  This mine also has a history with the NAZI regime.  The following article goes into the Rosia Montana Mine history more http://www.canadafreepress.com/2007/driessen083107.htm.

Of course this isn't the first time George Soros has shown his desire to influence and even control a government, http://newsbusters.org/blogs/bill-hobbs/2007/12/10/soros-using-environmental-scare-tactics-gain-control-gold-mine.


What about American Resources?

Consider the above in light of our own use of our own oil reserves, some of which have been re-evaluated at 9 times what we originally thought, and, MoveOn.org, a George Soros enterprise, making it clear their $88 million raised for Obama requires him to do as he promised them, http://sev.prnewswire.com/publishing-information-services/20081105/DC4416105112008-1.html.  And luckily for the liberals George Soros finally gets a win http://www.cnn.com/2003/ALLPOLITICS/12/26/elec04.prez.bush.soros.reut/.  Note that this means 300 million people are to be subjected to 4.5 million people's demand that Barack Obama does their will.


Soros:  An Equal Opportunity International Scofflaw

Here is a wonderful International Herald Tribune article about George Soros conviction in France being upheld by their Supreme Court.  http://www.iht.com/articles/2005/03/24/business/soros.php.  Last I knew France is an ally and a friend of the United States.  I cannot understand letting someone who doesn't honor French laws and courts, and, evades ours law by running a hedge fund off our shores, illegal since FDR, without paying any income taxes due to the United States, or virtually any government worldwide, is allowed to speak before our Congress.

However Soros, who promotes the idea of "spread the wealth" by backing Barack Obama, will not pay the 2.2 million dollar fine for insider trading, money the French Government surely could use.  No no, Soros in fact wants to turn his insider trading case into an international case to take to the World Court to be vindicated, and of course then be able to sue the French Government, so it is acting in Soros' best interest as well.  Let us not forget this is "the man who broke the bank of England," http://www.pittsburghlive.com/x/pittsburghtrib/s_143947.html, and I quote:

"In 1992, Soros won the title the "man who broke the Bank of England" when his speculations and machinations helped devalue the British currency. Many governments believe that he triggered the Asian economic crisis that began in 1997, was involved in the Mexican bailout with their President Ernesto Zedillo. Most recently, Soros worked on the Euro, pushing the U.S. dollar down to a near all-time low.

He was convicted in 2002 of insider trading in France and fined $2.2 million. George dismissed this finding as 'a odd decision' and said that he would file an appeal. ...."


Conclusion

Only in America could a man with the character above be allowed to speak before Congress as an expert in financial matters.  But then again this is the new "Liberal America" and Soros is the new "Stalin shadow" of Barack Obama by private politburo finance -- and liberals thought the 50% owned by Lyndon Johnson's estate in Halliburton was bad! 

Soros, like Obama, says everything we want to hear but at the same time asserts what we've all known is all wrong.  In light of the above, can anyone trust George Soros?  And if not, can Congress trust George Soros?  Notice that Soros wants his philosophy, that he discusses at the end of the following interview, to rule the way we think, the way we go about our solutions, as though George Soros is presiding over governments and their people.  Bill Moyers, having worked for Soros for 3 years in OSI, makes it easy to know how Soros plans to influence the situation, to distort the facts for "Soros's self interest" and socialism.  Listen to our world leader, our Dictator George Soros for yourself, be careful for he's selling something:  your gullibility -- http://www.pbs.org/moyers/journal/10102008/watch.html. 

Thank you for reading.


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Obama to ACORN Leaders: "Let's Shape Oval Office Policy Together."

Posted by Toddy Littman on Monday, October 27, 2008 5:00:00 AM

http://www.youtube.com/watch?v=8vJcVgJhNaU&feature=related


ACORN's reward is pretty clear now isn't it. The 20 billion from the $700 Billion Bailout doesn't matter for sure. Obama wins, they'll get everything they've been after.

I mean here is a guy, Obama, that spends 2 years making campaign promises that everyone believes, political rhetoric that no politician follows through with.

But the fact that over the course of 20 years Obama was surrounded by, acted, and had at least a three year friendship with a thief, terrorists, Black Liberation Theologists, Muslim leader, or was studying angry black poetry, people do not think this is an indication at all of who he really is or what he really believes in, stands for. As much as people like to pretend there is deep racism, there is a deeper reverse racism of extreme import in believing this man who has said virtually the same thing for 2 years to us in running for President, and yet those same people will not assess, let alone believe, his actions of 20 years, tantamount to the proverbial stink that attracts the low life flies.

Even here, seeing the video above where Obama invites the Community Organizers, the ACORN portion of which are being investigated in 11 states, to help him make policy "before my inauguration," while we also know about the 20 billion dollars for ACORN in the first version of the $700 billion dollar bailout, those who are following Obama's illustrious psych, the will of The Obama, will not shake the spell.


Thank you for reading.


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