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Author Topic: Indymac  (Read 6514 times)
Buffaloboy
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« Reply #25 on: July 13, 2008, 07:02:45 PM »

OK. IF you want me to believe that, then all the Halliburton stuff is fairgame too, right? Cheney? Same style of dots and monies. Just no oversight commitee. Power, government, corporations, there's much much in lines separating them anymore.


Mo,

First or all, fact is that the Clinton Administration was giving Haliburton no-bid contracts before George W Bush and his administration were.

Second, Haliburton's no-bid contracts, regardless of the administrations are all legal under law because of the uniqueness of their experience of what they do especially with oil fires. This is true for BOTH political parties.

Now that all aside ... back to Schumer and Indymac.

Why did Chuck Schumer specificly target a bank in California? Just who or what is Indymac untimately connected to?

Follow the money and power.
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edwarren
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« Reply #26 on: July 13, 2008, 07:06:38 PM »

I would like to ask this Buffalo. In many other posts you constantly argue that the President has no actual effect on the gas prices. Which of course is true, BUT, as we all know power leads to backroom deals and the like. You mentioned just a bit earlier to Moon to connect the dots. HMMMM...... aren't we wanting both sides of the fence here? I mean seriously, because Shumer is on the Banking committe he's guilty of fraudulent things with this bank but the Oil men running the administraion have nothing to do with the gas prices and $145 a barrell? I'm simply stating the obvious and not wanting another con/liberal arguement, but Stay on one side of the fence. The truth is the truth, no matter what side of the politcal continuum youre on.

Mo,


Schumer was right to blow the whistle. That bank was a piece of shit.

A BushWorld crapper.

There'll be more.   Wink
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Buffaloboy
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« Reply #27 on: July 13, 2008, 07:07:20 PM »

That's convenient for you. They don't have transcripts on the internet? Nobody covered it? The only info we have is that YOU heard something on Kudlow's right wing show??

Pardon me for being skeptical.


Moonie,

You dont want to believe Larry Kudlow sopeaking live on a 50,000 radio station that can be heard in 38 states, thats fine.

The LA Times has picked it up.

Schumer released a denial, I mean response.

Now, you have the start of your scandal.

Lets see how far a bunch of pissed off California Democrats take this.
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Moon
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« Reply #28 on: July 13, 2008, 07:08:56 PM »

Moonie,

There you go again trying to put your words into somebody else's mouth. I never said the Senate Banking Committee or the Fed should ignore problems and I never said they should be cheerleaders.

This Committee has the ability to have closed door hearings. They have access to information the general public isnt aware of. A cornerstone of our banking system is trust and security. When a bank oir banks lose that, there are runs and that bank or banks can literally go under in a matter of hours.

There are also people who based upon their position of power can influence a market or business with a simple statement or action.

In his letter, Schumer did not speak about the banking system or the mortgate system in general terms. Again, Charles Schumer is a Senator from New York and in his letter, he specificly targeted a bank in California. Schumer knows very well what words like his could do to an already troubled bank.

There is no way Schumer just mis-spoke or was mis-interpreted.

Schumer targeted this California bank for a specific reason and his personal gain is just one issue.

Now Moonie, remember, personal gain does not need to be physical things such as money or property.





Quoting you:

Their job is to PROMOTE the system.


That's cheerleading in my book. And it's NOT their job to promote the system, AFAIK.

Please tell us how Schumer stands to gain from this. That's what I'm asking and have been asking since you started this BS. Stop the innuendo and state how Schumer has done something that will benefit him.

Yes, Schumer did NOT pick on the system generally. He saw a specific problem and pointed it out. Therefore, protecting the overall system by getting specific problems out in the open. Sounds like he's doing his job very well.
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edwarren
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« Reply #29 on: July 13, 2008, 07:09:14 PM »

Moon, Schumer was right to blow the whistle.

That bank was a piece of shit.

A real BushWorld crapper.

There'll be more.  Wink

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Buffaloboy
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« Reply #30 on: July 13, 2008, 07:10:17 PM »

Mo,


Schumer was right to blow the whistle. That bank was a piece of shit.

A BushWorld crapper.

There'll be more.   Wink



If Schumer is right to blow the whistle on failing bank, why didnt he name Fanny Mac, Freddie Mac or ANY other specific bank? Schumer targeted Indymac for a specific reason. Look at the chain of what and whom Indymac is connected to,
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Moon
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« Reply #31 on: July 13, 2008, 07:11:42 PM »


Moonie,

You dont want to believe Larry Kudlow sopeaking live on a 50,000 radio station that can be heard in 38 states, thats fine.

The LA Times has picked it up.

Schumer released a denial, I mean response.

Now, you have the start of your scandal.

Lets see how far a bunch of pissed off California Democrats take this.

OK, then link to the "denial". Or link to the LA Times.

Pissed off, ill-informed Republicans who believe the innuendo coming from right wing hacks like Kudlow (just like you) will be the most likely whiners about this.
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Moon
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« Reply #32 on: July 13, 2008, 07:12:42 PM »


If Schumer is right to blow the whistle on failing bank, why didnt he name Fanny Mac, Freddie Mac or ANY other specific bank? Schumer targeted Indymac for a specific reason. Look at the chain of what and whom Indymac is connected to,

Again, more innuendo without facts. Just TELL US WHAT YOU THINK THIS CHAIN IS. Otherwise, you are no better than the "Area 51" people.
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edwarren
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« Reply #33 on: July 13, 2008, 07:13:01 PM »

BuffaloeBill,

Schumer was right to blow the whistle.

That bank was a piece of shit.

A real BushWorld crapper.

There'll be more.   Wink
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edwarren
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« Reply #34 on: July 13, 2008, 07:14:43 PM »

Again, more innuendo without facts. Just TELL US WHAT YOU THINK THIS CHAIN IS. Otherwise, you are no better than the "Area 51" people.

Moon,

 Wink
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Moon
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« Reply #35 on: July 13, 2008, 07:19:06 PM »

John McCain and Chuck Schumer are working together to prevent the failure of Freddy Mac!!!

Federal legislators on both sides of the aisle - including Sens. Chuck Schumer, D-N.Y., and John McCain, the presumptive Republican nominee for president - said this week that the two companies can't be allowed to fail. If it somehow did happen, the consequences would be haunting, observers say.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/07/12/BU0N11NSTF.DTL&tsp=1

OMG! McCain agrees with Schumer! What an ***hole. Follow the money!! What is McCain getting out of this? Sleaze! Corruption! Innuendo!
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Moon
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« Reply #36 on: July 13, 2008, 07:26:14 PM »

ed, you are right, this isn't the last of this.

It's a complete lack of oversight on the Bush administration's part. It's only now, that these failures are coming to light, (under Dem leadership in congress) that we realize how lacking in any kind of administration the Bush people have.

But, of course, the Conservative Cretin response will be:

"We can't expect the Bush people to have any control over this". Just like everything else.

They didn't control the economy, the didn't have any say over oil profits, they couldn't do anything about torture, there is no way they could have known that Saddam didn't have WMD, they don't know who outed Valerie Plame, they don't understand how global warming works, etc, etc.

Why do we need them, again??
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Buffaloboy
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« Reply #37 on: July 13, 2008, 07:53:46 PM »

Quoting you:

Their job is to PROMOTE the system.


That's cheerleading in my book. And it's NOT their job to promote the system, AFAIK.

Please tell us how Schumer stands to gain from this. That's what I'm asking and have been asking since you started this BS. Stop the innuendo and state how Schumer has done something that will benefit him.

Yes, Schumer did NOT pick on the system generally. He saw a specific problem and pointed it out. Therefore, protecting the overall system by getting specific problems out in the open. Sounds like he's doing his job very well.


"Promote" means to advance, NOT to "cheerlead". The responsibility of the US Senate Banking Committee is to advance ... and promote several things, including the banking system through laws and regulation

Their responsibility is NOT to single out specific individual entities and pronounce them to be near dead knowing damned well that he is driving the last nail into its coffin.

Schumer cant plead ignorance or claim the bank would have failed any way. There is a direct cause and effect between Schumer's words with his priviledged information and the $1.3 billion run on Indymac.

Again, even if you believe your notion that Schumer was right to say Indymac was failing ... then why is Indymac the ONLY institution he mentions in his letter?

Tell us why then hasnt Schumer made a similar statement about Fanny or Freddie or ANY other bank? Is it Schumers belief that no other banks or institutions are in trouble?

Why did Schumer specificly target Indymac?

Look at the Indymac connections, how the circle comes back to Schumer and who it hits along the way
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Buffaloboy
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« Reply #38 on: July 13, 2008, 08:00:23 PM »

Moon, Schumer was right to blow the whistle.

That bank was a piece of shit.

A real BushWorld crapper.

There'll be more.  Wink




Whether or not the bank was garbage is immaterial!

Schumer is in a position of power and oversight over a bank that he pronounces as near dead and Schumer is in a position to personally gain from that bank failure ... and that gain does not have to be material goods or money.

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Buffaloboy
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« Reply #39 on: July 13, 2008, 08:02:05 PM »

OK, then link to the "denial". Or link to the LA Times.

Pissed off, ill-informed Republicans who believe the innuendo coming from right wing hacks like Kudlow (just like you) will be the most likely whiners about this.


Are you so incapable of doing very simple Google searches yourself?
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Buffaloboy
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« Reply #40 on: July 13, 2008, 08:07:50 PM »

John McCain and Chuck Schumer are working together to prevent the failure of Freddy Mac!!!

Federal legislators on both sides of the aisle - including Sens. Chuck Schumer, D-N.Y., and John McCain, the presumptive Republican nominee for president - said this week that the two companies can't be allowed to fail. If it somehow did happen, the consequences would be haunting, observers say.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/07/12/BU0N11NSTF.DTL&tsp=1

OMG! McCain agrees with Schumer! What an ***hole. Follow the money!! What is McCain getting out of this? Sleaze! Corruption! Innuendo!


Finally Moonie take a small step forward!

Why would Chuck Schumer work with John McCain on Freddie and Fannie and yet knowingly write a letter where he knows damned well that he is throwing Indymac under the bus and causing its collapse?

Schumer will work with the Republican nominee for President on saving Freddie and Fannie but helps cause the second largest collapse with Indymac.

Makes you wonder what Schumer has to gain by helping Indymac die.
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Moon
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« Reply #41 on: July 13, 2008, 08:45:37 PM »


"Promote" means to advance, NOT to "cheerlead". The responsibility of the US Senate Banking Committee is to advance ... and promote several things, including the banking system through laws and regulation

Their responsibility is NOT to single out specific individual entities and pronounce them to be near dead knowing damned well that he is driving the last nail into its coffin.

Schumer cant plead ignorance or claim the bank would have failed any way. There is a direct cause and effect between Schumer's words with his priviledged information and the $1.3 billion run on Indymac.

Again, even if you believe your notion that Schumer was right to say Indymac was failing ... then why is Indymac the ONLY institution he mentions in his letter?

Tell us why then hasnt Schumer made a similar statement about Fanny or Freddie or ANY other bank? Is it Schumers belief that no other banks or institutions are in trouble?

Why did Schumer specificly target Indymac?

Look at the Indymac connections, how the circle comes back to Schumer and who it hits along the way

That's spin worthy of Billo! Promoting is not cheerleading? Hmmm...

But what about your insinuation that Schumer is going to get personal gains from this? Is that all BS? You haven't shown any indication that there is any, although you insinuate it a LOT.

Schumer is working WITH McCain to make sure Freddy Mac doesn't fail. They feel it's an institution that can be saved. Why aren't you giving McCain the same kind of innuendo slurs that you are giving Schumer?

Apparently, IndyMac bank hasn't failed either. It will open tomorrow under a new name (Federal IndyMac).
http://www.latimes.com/business/la-fi-indymac12-2008jul12,0,6071779.story

As to why only IndyMac?? IndyMac was possibly the only institution that was run this bad?? That could be the reason. Or it could be because Chuck Schumer in New York is going to make BILLIONS, BILLIONS, I say, on his memoir book sales when it's revealed that aliens have landed and would have attacked the world except that Chuck Schumer sent a letter saying IndyMac was failing.
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Moon
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« Reply #42 on: July 13, 2008, 08:47:04 PM »


Are you so incapable of doing very simple Google searches yourself?

YOU are the one claiming all this crap!!! Is it THAT difficult to back up your outrageous claims with some documentation??

I think this is about the 100th time I've posted that in this thread. You all claim to have "the facts", but you never seem to be able to produce any documentation of these so-called "facts".

And then you pat each other on the back for have so many facts in your arguments. Is "facts" a Conservative Cretin code word for "Limbaugh BS" or what?
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Moon
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« Reply #43 on: July 13, 2008, 08:51:09 PM »


Whether or not the bank was garbage is immaterial!

Schumer is in a position of power and oversight over a bank that he pronounces as near dead and Schumer is in a position to personally gain from that bank failure ... and that gain does not have to be material goods or money.



So now you agree the bank was garbage, Schumer pointed it out (which is his job) and this is somehow to his benefit, but you can't tell us why or how that would be?

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edwarren
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« Reply #44 on: July 14, 2008, 01:19:41 AM »

So now you agree the bank was garbage, Schumer pointed it out (which is his job) and this is somehow to his benefit, but you can't tell us why or how that would be?



Ya see, Moon,

In BushWorld, that is, according to Bush, US banks are able to remain "solvent" while maintaining an unprecedentedly low capital ratio/requirement of, I think, about 7.5%.

While other couintries bite the bullet by RAISING THE capital requirements (15% to 20%) banks need to maintain solvency (to fight inflation), Bushigula figured SO LONG AS WE ARE FIGHTING A WAR, it don't matter, lower capital requirements (while shorting the stock !!) and then so long as FOLKS KEEP WORKING (for lower and lower real wages, of course). Well, even the FED's complaining about this. Not about you, (they don't care about you), but about the meager capital the Bushes are allowing banks to operate under. (It makes Bernankes job more difficult.)

No wonder Schumer wants to fold the OTS (the regulator) into the Fed since it's the OTS REGULATOR AND THEIR CRONIES WHO ARE SHORT (and that Moon, would be the Bushonians through the shadowy short pools well-healed Republicans and the RNC participate in, OFF-SHORE)

After all, enough's enough, right?

 Cry

One thing's certain, BushWorld doesn't care about you, they don't care about us, and they especially don't care about working  Republican stiffs who instinctively vote Republican because their label says - Republican and who have been, by the way, BushWorlds greatest and most tastiest and juiciest victims. It's time for a change.

There are more surprises in store. The Bushes especially Daddy , are highly experienced at ... fraud.  Plain and simple. I give em credit. They're very savvy. The Bushes know how to deliver an endless assembly line of sub-standard junk "products" that enrich themselves while someone else (that's us) end up holding the bag.

 Wink

That's what happened.

« Last Edit: July 14, 2008, 01:23:20 AM by edwarren » Report to moderator   Logged
Buffaloboy
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« Reply #45 on: July 14, 2008, 03:02:57 AM »

That's spin worthy of Billo! Promoting is not cheerleading? Hmmm...

But what about your insinuation that Schumer is going to get personal gains from this? Is that all BS? You haven't shown any indication that there is any, although you insinuate it a LOT.

Schumer is working WITH McCain to make sure Freddy Mac doesn't fail. They feel it's an institution that can be saved. Why aren't you giving McCain the same kind of innuendo slurs that you are giving Schumer?

Apparently, IndyMac bank hasn't failed either. It will open tomorrow under a new name (Federal IndyMac).
http://www.latimes.com/business/la-fi-indymac12-2008jul12,0,6071779.story

As to why only IndyMac?? IndyMac was possibly the only institution that was run this bad?? That could be the reason. Or it could be because Chuck Schumer in New York is going to make BILLIONS, BILLIONS, I say, on his memoir book sales when it's revealed that aliens have landed and would have attacked the world except that Chuck Schumer sent a letter saying IndyMac was failing.


Moonie,

pro·mote   Audio Help   /prəˈmoʊt/ Pronunciation Key - Show Spelled Pronunciation[pruh-moht] Pronunciation Key - Show IPA Pronunciation
–verb (used with object), -mot·ed, -mot·ing. 1. to help or encourage to exist or flourish; further: to promote world peace. 
2. to advance in rank, dignity, position, etc. (opposed to demote). 
3. Education. to put ahead to the next higher stage or grade of a course or series of classes. 
4. to aid in organizing (business undertakings). 
5. to encourage the sales, acceptance, etc., of (a product), esp. through advertising or other publicity. 
6. Informal. to obtain (something) by cunning or trickery; wangle. 


--------------------------------------------------------------------------------

[Origin: 1350–1400; ME promoten < L prōmōtus, ptp. of prōmovére to move forward, advance. See pro-1, motive]

—Related forms
pro·mot·able, adjective
pro·mot·a·bil·i·ty, noun


Next, Moonie. You think that Schumer working with McCain on Freddie and Fannie means that all is good for Schumer and that just isnt true. Schumer wrote a letter specificly about Indymac knowing his words, due to his position of power, could cause its collapse. Where did Schumer write a similar letter specificly saying they better go help Freddie and Fannie real soon? Where has Schumer written a similar letter about ANY individual bank the way he wrote his letter for Indymac.

Moonie, Indymac failed. The FDIC took it over and now operates it under a new corprate name of Indymac Federal Bank and it is considered to be a new bank with Indymac assets transferred to that new bank

Now since you took a guess on why Schumer went out of his way to kill Indymac, you deserve an answer and a new hint ...

Charles Schumer, as best as it is known,. has no direct personal financial gain from his causing Indymac to collapse ... in other words, Schumer, has no known direct investments which will gain from the Indymac failure.

Indymac is PART of the equation ... who or WHAT is Indymac tied to?
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Buffaloboy
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« Reply #46 on: July 14, 2008, 03:19:41 AM »

So now you agree the bank was garbage, Schumer pointed it out (which is his job) and this is somehow to his benefit, but you can't tell us why or how that would be?




Moonie.

I never said ANYTHING about the financial condition of Indymac or how it was run one way or the other. Again, whatever financial troubles Indymac had is immaterial.

Moonie, this is what you dont seem to get. If you had said that Indymac was about to fail, so what. If I had said that Indymac was about to fail, so what. You are Moonie and I am Buffaloboy and what the hell does it matter does what we say about Indymac because we do not have influence.

Charles Schumer is a member of the Senate Committee that directly oversees Indymac. He is part of a handful of people who regulate that institution. When he speaks about banks, he does so based upon information has has based upon his direct position of power. That is information that very, very few in the public see. He has influence in this situation that few others have.

If Schumer has said "banking" as a whole needed help, that is bad enough but it is a general statement. Schumer, in his position of power when talking about a specific institution, as he did with Indymac, has the influence to kill it and in this case, to start a $1.3 billion run on it.

Schumer is not an inexperienced fool. He has been around to know what his words would do. It is NOT an accident that he targeted Indymac.

There is a chain to follow involving Schumer and others.
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knowitall
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« Reply #47 on: July 14, 2008, 03:21:12 AM »

Indymac is a spinoff of Countrywide.

That is the same Countrywide that is the largest subprime loan predator!

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Buffaloboy
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« Reply #48 on: July 14, 2008, 03:24:53 AM »

Ya see, Moon,

In BushWorld, that is, according to Bush, US banks are able to remain "solvent" while maintaining an unprecedentedly low capital ratio/requirement of, I think, about 7.5%.

While other couintries bite the bullet by RAISING THE capital requirements (15% to 20%) banks need to maintain solvency (to fight inflation), Bushigula figured SO LONG AS WE ARE FIGHTING A WAR, it don't matter, lower capital requirements (while shorting the stock !!) and then so long as FOLKS KEEP WORKING (for lower and lower real wages, of course). Well, even the FED's complaining about this. Not about you, (they don't care about you), but about the meager capital the Bushes are allowing banks to operate under. (It makes Bernankes job more difficult.)

No wonder Schumer wants to fold the OTS (the regulator) into the Fed since it's the OTS REGULATOR AND THEIR CRONIES WHO ARE SHORT (and that Moon, would be the Bushonians through the shadowy short pools well-healed Republicans and the RNC participate in, OFF-SHORE)

After all, enough's enough, right?

 Cry

One thing's certain, BushWorld doesn't care about you, they don't care about us, and they especially don't care about working  Republican stiffs who instinctively vote Republican because their label says - Republican and who have been, by the way, BushWorlds greatest and most tastiest and juiciest victims. It's time for a change.

There are more surprises in store. The Bushes especially Daddy , are highly experienced at ... fraud.  Plain and simple. I give em credit. They're very savvy. The Bushes know how to deliver an endless assembly line of sub-standard junk "products" that enrich themselves while someone else (that's us) end up holding the bag.

 Wink

That's what happened.




And in EddieLibbyWorld, you would be too blind to see that what Charles Schumer did had ABSOLUTELY nothing to do with Republicans or President Bush.

The brewing scandal for Schumer and others is old fashioned greed.
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Buffaloboy
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« Reply #49 on: July 14, 2008, 03:30:19 AM »

Indymac is a spinoff of Countrywide.

That is the same Countrywide that is the largest subprime loan predator!




Knowitall wins Round One and gets the proverbial prize.

Congrats to Knowitall.

Now onto Round Two ... This gets a little harder ... Who is Countrywide connected to?

Two hints:
1) Its more then one person
2) Its not directly Schumer.
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“The answer to a government that’s too big is to stop feeding its growth.” - President Ronald W. Reagan
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