The $700 billion bailout package to save the economy of the world’s only superpower is too staggering to comprehend for the ordinary Filipino whose main concern is coping with the rising prices of basic necessities including the shrinking pan de sal.
But whether it’s in the billions of dollars or in the meager Philippine pesos and centavos, the US financial crisis has again reminded us of the folly of a materialistic society and the virtue of living within one’s means.
In an article in the Inquirer, former Economic Planning Secretary Cielito Habito tried to make understandable to non- financial wizards the problem facing the Americans, which has sent shivers all over the world. He said, “Put simply, the plan would permit US Treasury Secretary Henry Paulson to buy from troubled US financial institutions, using taxpayers’ money, up to $700 billion worth of the so-called ‘toxic mortgages’ or failed subprime loans.
“These are the loans that had been lent by banks and mortgage companies to American home buyers that the latter could no longer pay for.”
There are a number of articles in newspapers and blogs that explain the financial mess that the U.S. is in today. There’s one by “Reyna Elena” a US-based Filipina. Here’s portion of her engaging entry in an otherwise dismal topic:
“To non-financial people, para maintindihan what ‘subprime’ means is to understand what ‘prime’is, sa lending business. Yon ang pinakamadali. Kaya sya tinawag na ‘prime’ because not only does one have the money to pay, the ability and the capacity to pay, but also the right attitude and the discipline to pay regularly backed up by a history of good payments. Why? It does not necessarily follow na porque mayaman ka, nag-babayad ka nang utang regularly. In the US, almost everything here is about credit. One must have a good credit history to have a good credit rating. “
More from Reyna Elena:
“ How does the credit ratings work and what does it mean? It simply means, the higher your credit rating means, the lower interest rate you pay on credit cards, loans and mortgages. The lending business sa US rewards good borrowers and penalizes yong mga hindi nag-babayad or pumapaltos nang pagbayad nang utang. “
“That’s why we have a lot of credit rating agencies. There’s Experian, Trans-union and Equifax. Ano ang counterpart nito sa Pilipinas? Honestly, I don’t know. I have not heard anything other than merong mga Credit Investigators na kakatukin ang kapitbahay ninyo. Korek?”
For the whole article, check out http://reynaelena.com/2008/09/17/understanding-subprime-and-the-us-housing-market/.
If we are to base it on the available statistics on the number of credit card holders in the Philippines, we are far-off from the level of living-on- credit lifestyle in the United States.One article says there were 5.5 Million estimated number of credit card holders in the Philippines in 2006. The figures are not much considering that there are 86 million Filipinos. But it’s an actively growing business because in 1997, there were only 2.5 million credit card holders.
I can imagine that the number of credit cardholders in the Philippines would be increasing with the aggressive marketing that credit card companies are employing. It has become annoying to be accosted by credit card sales people in malls.
There are also the phone calls congratulating you for having been selected for another credit card. I tell them, “No, thank you. I have two credit cards and I’m already having difficulty paying my bills.”
There’s a temptation to overspend with credit cards but once you have learned to discipline your spending habits, it’s a great convenience.
It used to be that whenever I find something nice I want to buy, a blouse or a good book, I would have to save money for it. But many times, by the time I returned for it, the item would already be gone. Now with the credit card, I can buy the item I like on the spot.
But that’s all I would go with credit cards. I’m wary about those no-interest for one year purchases of electronic gadgets or appliances that they are promoting.
There are also text messages offering loans. I always reply, “Give me an offer better than what Manny Gaite gave to Jun Lozada. P500,000, no collateral, no interest, no commitment to pay.” So far, none has replied.
The current financial crisis, bailout and other problems that have to do with money are for the rich to worry. Those who have investments and assets are the most affected. To ordinary poor people who must worry about the basic needs in life, why should they care about the economic, financial crisis? The uneducated, illiterate, unable to eat three meals a day don’t understand what law of supply and demand is; what capital gain is, what surplus and deficit is. How ideal it is to share the world’s wealth equally. When would the day come that all people live equally? Oh I’m dreaming…
The late Ninoy didn’t have any qualms in proclaiming his preferred ideology, which is, as he described it, “Christian democratic socialism.” And had he taken over after Marcos, we can be sure that the terms “deregulation,” and “privatization” would have been outlawed and that basic industries would never have been privatized and deregulated.
Christian Democratic Socialism? Sounds good. Perhaps that’s what we need.
It’s a combo. I think National Security Chief Norberto Gonzales is a die hard social democrat (socdem). Gloria Arroyo is a goddamn sh*t. Look what happening to our country today. Ramdam na randam ang kahirapan.
Thank you very much for featuring my subprime article. It’s rather an honor po Tita Ellen! More glitters!!! 🙂
Tita Ellen,
I have a very different opinion after reading a number of what’s inside this bailout.
These whole shit started with deregulation that led to subprime that led to Wall Street tikbalangs. Wala akong mabasa that really tries to resolve or even deal with the issue about:
1.) What do you do with the lending process na ginamet nila to be greedy? Kanya kanyang police each other one another and it’s gonna be the same last year ever and ever? How come parang pinapabayaan pa rin nila ang Wall Street to regulate themselves?
2.) Although, I’m sure the American people are very thankful with the work of the Securities and Exchange Commission, federal and state regulators and prosecutors, catching these Wall Street crooks; what do you do with these mortgage operators and loan originators who stole a lot of money from investors and depositors? I have not heard one mortgage bank nor one loan originator na ibinalandra sa federal prison.
3.) The bailout was silent on the homeowners. They bailed out the banks but not the homeowners. Basta ang sabi sa mga banks – ENCOURAGE TO MODIFY – Leche talaga! Sinong banko ang susunod sa kanila to ENCOURAGE TO MODIFY the mortgage loans nang mga kawawang homeowners?
I personally believe that it’s better that they let the banks fail. Bakit hindi hayaang mag-bank run ang mga lecheng bangko na yan who really contributed to all these problems? Let them fail. Pagdusahin ang mga tikbalang na yan. Let them evaporate but in an orderly manner. Tutal safe naman ang mga deposits up to $100,000 (before the bailout) and business will go as usual and better banking will soon follow.
Yes, I understand they have to do something even though I feel that the bailout does not resolve the problem. Sa totoo lang, they have inserted stupid tax breaks on car racing tracks and Hollywood echebureche which has got nothing to do with subprime. Ang mga kwagooo!!!
Will there be more subprime gremlins marching into the credit market again? Who knows. I’m not a Congressness, a Senatress or a Governess. I am just one small-time blogger and I know that if they don’t “do something”, the volatility in the market will rule the universe. The Dow will continue to slide. And that’s what this bailoutI believe, is all about, because if they don’t, we won’t know what will happen next – the world financial market might collapse which leads me to believe that it’s possible that the US was under intense pressure from the foreign govt’s to reign on the sliding Dow by calming it down.
In the end, as investores, we the taxpayers (kahit na Pinoy pa rin kami) are now the owners of dead rats, bad debts, foreclosed houses, failed banks, dying corporations and rest in peace investment certificates.
Sinong me gusto?! Let me know.
Ellen says:
“…basic necessities including the shrinking pan de sal.”
– – – – – –
pan de sal has been shrinking ever since the advent of ali baba gloria. can you see/find pan de sal without using a microscope?
Who are the culprits in this US financial mess? Back in 2007, Bush assured the nation that the US economy was strong. In March of 2008, US Treasury Secretary said that the US financial and banking institutions were strong and would remain to be many more years to come. Two weeks ago, the two begged the House and people to pass the Bailout plan. Clearly, the two who first gave assurance that everything was okay are the culprits. Let’s turn to RP economic situation, wasn’t the GMA government saying the same thing all these eight years? The Evil Bitch, her economic advisers and ever talkative Press Secretary kept saying the RP economy was sound and good. Other than the OFW dollar remittances, we all know that everything is bad.
Bush and Gloria, the world’s two biggest liars!
Congress just ripped me, personally, off for at least few grand of my hard earned dollars and probably more by the time the truth comes out. Okey, the mindset is to buy bad debt, hold it and hopefully turn a profit. The market looks to be stagnant and may remain that way for a while.
Let’s say this stagnation lasts 3 years, then takes another 3 to begin to rise. With that scenario it would be 6 years before the government can begin to see a return on this investment. Increase that to 5 years stagnation, and you get 10 years,6 years = 12 etc.etc.etc. The government may be able to turn a profit. in a decade or two. until then we’re stuck. bad economy and debt on top of it. If things get worse before they get better, which is usually the case, who will help? The government just spent the last of our money. I think this was bad no matter how you slice it. Something had to be done, yes. but not this. No one could come up with anything better than this? To me it appears that the system is broken. To throw money at a broken system doesn’t make much sense. First the system should be fixed. Then maybe a stimulus package or something of that nature. But to force a bill thru congress because “something had to be done” is very bad governing practices. $700 billion just buys enough time for the next President to get stuck with the dirty diapers. Criminal, this is all criminal.
The criminal FED and the treasury will have total control over America and first inflate the market to make people believe the bailout worked, then they will cause a total crash which will robbed all of you of everything you have saved throughout your whole life. As much as one might wish to have the world come to an end. Just to make sure all the rich people are (also) dead? That will not happen. Much wealth of people who though they had never actually risked it, was destroyed, there is a bumpy road ahead, but recovery will come eventually and the time until then will be very painful for many. However, for significant but politically viable social change, things would have to get much worse than that. Therefore it is a pity that the bailout went through.
Now,Even OJ Simpson want Americans to bail him out.OJ Simpson made his case for the government bailing him out of jail, arguing that as long as he is a free man he is likely to become involved in other criminal cases that could generate much-needed television revenue. As long as the Juice is loose, there’s no telling what trouble I’ll get into,And that means one thing to the TV networks: cold hard cash.
The banks are swapang. If you put $10,000. time deposit in the bank, how much can you make after it matures? Lets’ say for 1 year. The interest of that money you pay the IRS and the bank has to report to the Government deposits of $10,000. and above. Which bank pays 6% on CDs. If you borrow money from them they charge you 6% to 7% depends on your credit line & credit standing. On Credit cards the only time you bet the bank is if you pay your statement in full and ahead of time. What interest can the bank make on you? The stock market is different. We bought $10,000. in bank stocks, it split 4 times within 4 years. We sold it and made $160,000. Am I greedy? I said again and again, the greedy people in the stock market are the CEOs because of their stock options and bonuses and also perks. I know a lot of people playing the stock market and right now they are in turmoil but as long as their stocks does’nt get wiped out. Stocks will come back in value. It might be tomorrow, in five months, 1 year or 5 years so with real estate. So guys, just tighten up your belts and life would be smooth sailing again. Let’s have hope that Pandak will be replaced by Lacson and Trillanes. These people have integrity, honesty and all the good signs of a great leader.
The problem is not that home loans were given to those who couldn’t afford homes. The problem is that the home loans given to many people were too large. Over-borrowing was encouraged by the mortgage lenders. Many people received sub prime mortgage loans that could have afforded more conventional loans. Why do you ask? Because the sub prime loans were more profitable initially for the lenders. The lender was going to sell of the loans with mortgage backed securities anyway-why not make the biggest loan you can? People at all income levels bought more house than they could afford.
While we’re discussing and arguing about the financial crisis which is the topic of this thread, I’m reminded of former House Speaker Jose De Venecia who might be busy watching the stock market and forgets what he has promised; that is, to testify at Senate on that ZTE deal. Where are you Joe? Christmas is two months away. Did you already receive your Christmas bonus?
i think commenters need to know which party is beneficial to Philippines economy. Republican for free trade and free markets or Democratic for Protectionism and against Outsourcing of Jobs ( for example -call center).
Google search CRA, Acorn, and Obama.
http://www.youtube.com/watch?v=exxVZTKq1vA
http://cayankee.blogs.com/cayankee/2008/10/the-obama-acorn.html
http://www.youtube.com/watch?v=1RZVw3no2A4
here’s the latest from new york times:
http://www.nytimes.com/2008/10/05/business/05fannie.html?pagewanted=2&_r=2&adxnnlx=1223244268-MiiuzEOvXabeam72sj%20bMw
connect all that, you might change your vote. also google source democratic’s protectionism policy and anti-outsourcing.
I will vote for the party beneficial to me and to the Philippines.
Some say the Republicans are extreme rightists and Democrats are extreme leftists. If there’s a third candidate who is independent, then he could be a good choice.
The democrats coerced the bank to make subprime mortgages thru -The Community Reinvestment Act. In order to make loans and homes more affordable for lower income borrowers the unusual loan products were developed. Interest only, Option ARM, and the low teaser rate products were answers to helping people who did not otherwise qualify get a home, as REQUIRED by CRA. These low standards for qualification were applied to everyone who wanted a mortgage.
The Clinton Administration rewrote the CRA to REQUIRE loans be made to low credit quality borrowers. And engaged FANNIE and FREEdie to buy these loans. It sets numerical targets for lending by location, race, and ethnicity. CRA often required lending to uncreditworthy persons to get a satisfactory CRA rating, and it did indeed cause Freddie and Fannie to take on huge amounts of dreck and bought these bad loans.
Barack Obama has been talking a big game over the past week about his concerns for Main Street, but he actually played a key roles in an organization that contributed significantly to the financial crisis. Google search ACORN and the role of Obama as an ACORN organizer in Chicago.
In 2008, economist Stan Liebowitz wrote that the CRA encouraged a loosening of lending standards throughout the banking industry despite warnings of default. Banks were allowed to loan to consumers who were not credit worthy with “no verification of income or assets; little consideration of the applicant’s ability to make payments; no down payment.” According to Liebowitz, the chief executive of Countrywide said that in order to approve minority applications, “lenders have had to stretch the rules a bit”
Democrats Versus Obama:
http://www.youtube.com/watch?v=6Re0Z5xOC6w
Obama Sued Citibank Under CRA to Force it to Make Bad Loans:
http://www.redcounty.com/sarasota/2008/10/obama-sued-citibank-under-cra/
ACORN Obama connection:
http://www.youtube.com/watch?v=n6rMSd-JRuk
asiandelight/leytenian,
since you also posted these here, I will post my reply here, too.
In an interview with NYTimes, sacked Fannie Mae CEO Mudd admitted he was pressured not just by legislators (for not doing enough for low-income borrowers) but also by clients (Fannie’s biggest client – Countrywide’s Mozilo threatened to make them irrelevant as Countrywide has been dealing directly with Lehman, Goldman, Bear Stearns bypassing Fannie because of the latter’s refusal to buy subprime), the regulators (when they increased Fannie’s goals and then again to “relax” their standards), and investors (for complaining that they are not making as much as their investment bank counterparts are offering), plus the fact that the year prior to his appointment, Fannie lost 56% of its loan-reselling business to Wall Street and other competitors – all contributed to his decision to buy subprime thus making Fannie the biggest in the world.
Complete interview here.
http://www.larouchepub.com/other/2003/3010ofheo_rpt.html
In the congressional investigation of FannieMae and FreddieMac in 2003 which eventually led to the removal of Raines and his CFO in FannieMae, the shocking revelation came from OFHEO’s Armando Falcon (a Clinton appointee), that of an impending crisis in the derivatives market. Bush’ administration did a quick coverup they replaced him within 24 hrs and by whom? By Mark Brickell, JPMorgan Chase head of derivatives trading, that’s who! Brickell later worked closely with Phil Gramm (now McCain’s economic adviser) for more deregulation. Brickell also traded, er, brickbats with Lyndon Larouche who has been predicting a mortgage bubble as early as 1993.
That investigation by (D-Tex) Rep.Henry Gonzales also paved the way for Mudd’s rise as FannieMae CEO after OFHEO’s findings of accounting fraud dropped the ax on Raines and Howard.
Falcon recently predicted accurately how government will act on Fannie and Freddie. Read here.
The video link makes it appear as if it was Obama who caused this problem only last year. It’s about time you get a complete picture (w/ timeline):
http://www.motherjones.com/news/feature/2008/07/where-credit-is-due-timeline.html
Read this, and this, too.
Nangangampanya pa si asiandelight. Sabi nung isang commenter sa video, “I love the smell of Republican FEAR and PANIC in the morning”. Hehehe.
so tongue,
would you trust Obama as president of the United States? Republicans tried to regulate Fannie and Freddie in 2005. Bill Clinton Knows…
http://www.youtube.com/watch?v=XsynspIqAoE&feature=related
Thanks for the links.
tongue,
hahaha, yes most of my fellow pinoys and close friends in orlando are scared to have Obama as president. we came to america not to take advantage of welfare but to work. Most of my friends who are doctors, nurses and in the healthcare field are scared of Obama’s Healthcare Policy that will eventually lower their salaries. I don’t know why Pinoy in New York and California are democrats. Are they receiving food stamps and welfare? I don’t get it. Secondly, Obama may close the border , decrease immigration qoutas, and probably will not send jobs overseas. Philippines do not need a democrat winner at this time of crisis. We need those jobs to be outsourced here in the Philippines. That’s why I agree with the professor, a columnist of the business world on Manolo’s – The Explainer.
http://www.youtube.com/watch?v=IZTi-7yt7iI&feature=PlayList&p=B64672B00ECA2F0A&index=3
Here is a memo from the Heritage Foundation, circa September 10, 2007. Below is an excerpt.
The problem now challenging financial markets and the economy stems from historically low interest rates that encouraged millions of Americans to refinance their fixed rate mortgages. The lower interest rates meant that buyers could afford larger mortgages. Effectively, a bidding war broke out that raised the prices of homes. While some markets had larger price appreciation than others, higher prices limited the number of potential buyers. In response, the home financing industry developed new products that allowed otherwise unqualified individuals (by income, assets, and/or credit history) to receive loans to buy or refinance a house.
These same products also allowed creditworthy households to buy more expensive houses or to refinance their current houses to obtain cash for other uses. These riskier mortgage instruments, referred to as “subprime” loans, in recent years have come to account for an ever larger share of the mortgage finance market. By 2005, they accounted for about 20 percent of all outstanding mortgages, up from just 5 percent in 1994.
The source of the memo, the Heritage Foundation, is a conservative think tank. Alumni were Paul Bremer and Edwin Meese.
Sorry. Here is the source.
http://www.heritage.org/Research/Economy/wm1604.cfm
Reyna Elena,
Let me try to answer your questions as briefly as I can concerning SEC.
Question number 1) What do you do with the lending process na ginamet nila to be greedy?……….How come parang pinapabayaan pa rin nila ang Wall Street to regulate themselves?
Answer: The Wall Street Journal on their their November 7, 1966 issue, Ralph Saul, President of American Stock Exchange. Below are quotes from one of the Saint of Thieves, St. Ralph:
“Under the scheme of regulation as contemplated by law, the stock exchanges have the primary responsibility of regulating the marketplace, while the Government has a supervisory role in relation to the exchanges……The SEC believes in the process of self-regulation…..”
“Therefore we must forbear.” The SEC realizes that the exchanges have the flexibility that Government lacks, by its very nature…..have an on-the-spot understanding of regulatory problems that a Government 250 miles away can’t possibly have. Exchanges can act more promply here, without having to go through detailed administrative procedures.”
Nakakatawang nakakainis ang justification nitong si Ralph kaya daw self-regulating sila ay flexible daw ang exchanges at saka ang layo ng Washington DC para ma regulate sila, 250 miles. Yong katwiran ng SEC eh parang katwiran ng Pidal mafia. Tingin sa mga tao eh tanga.
Question number 2) Although, I’m sure the American people are very thankful with the work of the Securities and Exchange Commission, federal and state regulators and prosecutors, catching these Wall Street crooks;……
Answer: Yeah, they are thankful because they don’t know the real score.
The Pecora Commission headed by Ferdinand Pecora, investigated the Wall Street Crash of 1929.
In 1939 Ferdinand Pecora published his memoirs that recounted details of the investigations. Titled “Wall Street Under Oath”, Pecora wrote: “Bitterly hostile was Wall Street to the enactment of the regulatory legislation.”
http://www.powerset.com/explore/semhtml/Pecora_Commission?query=Ferdinand+Pecora
In 1934 President Roosevelt appointed Joseph Kennedy, the father of former US President John F. Kennedy, as the first chaiman of SEC. Pecora exposed one of Kennedy’s classic swindling expertise at Libby Owens Ford Glass Company.
Itong “Wall Street Under Oath” ay sinulat noong pang 1939 mayroon nang pagbabagong mga rules ang SEC pero may loophole pa rin sila kaya ganon din ang labas. Paano sila di magkakaroon ng loophole eh self-regulated sila.
In short, SEC is there not to protect the public from manipulations but to protect the den of thieves, Wall Street.
Question number 3) The bailout was silent on the homeowners. They bailed out the banks but not the homeowners.
Answer: You should know by now, why?
Addendum:
Milton Friedman an economist also identified SEC as a private monopoly.
Tribune analyst, Alejandro Lichauco, on his current piece dated 10/06/2008, will never write that piece in its current form if he read the book of Pecora.
Thanks Atty. If not for the date, the article could pass as having written only a few weeks ago.
Fannie Mae CEO, Daniel Mudd calling Obama and the Dems the “Family” and “Conscience” of Fannie Mae. He admitted that Fannie Mae has lent more money to more minorities and more underserved individuals than any single company in history.
http://www.youtube.com/watch?v=usvG-s_Ssb0
If I have taken all the credits card offered me, all the banks’ line of credits and use them all up to max and then, what, nothing, the bank can not force me to pay since I would not be able to, since cards and line of credits are non-collateral backed loans..even with all the refusal left and right, I still got stuck of just about paying the minimum billings every month, which barely over the interest, just with one Card, but with enormous almost sky high credit limit and sometimes I forget to live within my means, especially when the niece sweet talk me into buying her the new sweet apples..the scenarios about the same, only most involve houses, businesses, expensive stuffs and cars and even jewelries.
Living within our Means is the right thing to do. But first let’s be an informed citizens and how Obama’s presidency and his policy will affect our Philippine economy if he wins.
“Washington, Aug 31 (PTI) Democratic Party’s US presidential candidate Barack Obama has underlined his commitment to halt outsourcing of jobs overseas by ending tax breaks to companies that ship works to other countries, a policy that could adversely affect India.
In one of his first major campaign events in the aftermath of the Democratic Convention in Denver, Colorado, last week, Senator Obama stressed that he and his running mate Senator Joseph Biden is going to put an end to tax breaks to companies that ship jobs overseas.”
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102×3463643
India React:
“Making a strong anti-outsourcing pitch after getting the Democratic Presidential nomination, Barack Obama vowed to end tax breaks to companies that ship jobs overseas if he is elected to office.”
http://www.rediff.com/money/2008/aug/29bpo.htm
Philippines: A threat to BPO’s may become a reality
THREAT TO BPO’s may become a reality…
“That’s a threat to the likes of the business process outsourcing (BPO) sector, a popular job provider. American clients still account for a big chunk of those that local BPO companies currently serve. BPOs have been a major stimulus for other sectors like real estate, retail, transport, and consumer goods.”
http://www.radiopinoyusa.com/radiopinoy_news.php?id=NEWS-02530
So the GSIS has 1 Billion dollars overseas. The reason for that is:
“The absorptive capacity of the local market is just too limited for the investible funds of the GSIS, thus we have to take advantage of opportunities overseas,” said Garcia.
Goddamn. Bakit umuutang pa para sa NBN, Northrail et al? They could have borrowed from the GSIS.
Garcia is proud of the portfolio’s increase of five percent. If we used that money for infrastructure projects, hindi sana natalo sa maraming tongpats.
By the way, who is the broker of the GSIS investments funds? Damn what a lucky guy. The commission of Jose Velarde is peanuts compared to this account. Note that they parked the funds in only one entity – Citibank.
Sabi ni Gibson, isang radio host, “the system of the US government was set up by genuises so the idiots could run it”.
GSIS has $1B overseas. Taragis talaga!
Oo nga, atty. “Bakit umuutang pa para sa NBN, Northrail et al?” O, muntik ko ng malimutan ang malaking tongpats kapag umutang sa Tsina.
“Living within one’s means” isn’t this what virtually almost every Filipino family is trying to do nowadays. Of course those that benefit largely from the largess of corruption under this administration are living it so good. They even are able to travel overseas at the expense of the taxpayers. Definitely they are not living within their means. With the continuous escalation of cost of food, medicines and other necessities, it really is a big challenge trying to “live within one’s means”. One of the means I have seen being adapted is to eat less of the usual food intake of the family. Others have changed their dietary mix with less expensive but poor in nutrient food items such as the common instant noodle fare. Others have accepted a diet of “pagpag” foodstuff catered by street hawkers or the corner carenderia. Yes, us honest people are trying our best to live within our means. We have foregone eating out, we have planted edibles in our yard, and raised a few chickens. But all of these has nothing to do with the financial crisis overseas. All of these has to do with the corrupted politics and administration of this government.
Having had some background in finance, it is only a matter of days, weeks, or even months before the US meltdown will hit Philippine shores. For Gloria to proclaim that the country’s economy is resilient against the US financial crisis is a rather stupid statement. For this, I do not consider her an economist at all. She is a politician first.
Most finance people, including their dogs, will tell you that the effects of the economic plunge currently happening in the US will dramatically slow down growth in the Philippines.
Be very careful where you put your money. Whether you have one peso or 100 thousand peosos, you have the right to ask your account officers about your money & were they are investing it in. The magic word today is CON SER VA TIVE. Deal with conservative banks or financial institutions, not those who offer high yields, or high interest rates–be wary actually of high interest rates; they are only wetting your appetite for greed. Be as liquid as you can, because because the ride is gonna be bumpy.
It all comes down to the basic question: Is the passing of the Bailout Plan beneficial to the American people and economy; short term and long term? Since it was a bipartisan effort with no less than Obama, Biden joining MacCain in supporting the Bailout, then the approval MUST be good.
Whoever wins in the US presidential election has no meanng with us. Its still Gloria who will funnel all the goodies.And when everything stops with her, thats the time we will have our own economic failure. It has already started when she came aboard.
Whoever wins in the US presidential election has tons of problems on his shoulder. This is not the best time for a candidate to win because he will be inheriting Bush’s mess. That’s also what would happen to the candidate who wins in 2010 inheriting Gloria’s bankrupt and corrupt government.
# kejotee Says:
October 6th, 2008 at 3:20 am
Ellen says:
“…basic necessities including the shrinking pan de sal.”
– – – – – –
pan de sal has been shrinking ever since the advent of ali baba gloria. can you see/find pan de sal without using a microscope?
***
The first effect to kapinuyan of the US economic meltdown will be on the price and size of pan de sal as is always the case whenever there’s a shortage of whatever in Pinas.
Magiging mas mahal ang isang pan de sal kesa sa microscope. Nakikipag-unahan ang pan de sal kay Gloria sa pagliit. heheh!
asiandelight,
Give it up. McCain & Palin lost the debates on issues, mudslinging is the only alternative left. The more you dig dirt on the Dems, the more of McCain’s indiscretions and misdeeds show. No more to 4 years of George Bush. Did you read the Mother Jones timeline? You dwell only on Clinton (forgetting however that Newt Gingrich and his Gang of Deregulators were responsible for economic legislation at the time) but should McCain win, God forbid, his economic policy adviser Phil Gramm, Greed Master Paulson, their Republican card-bearing cohorts in Wall Street will all take you down the pits and America, yes, Almighty America, will be licking the boots of the chinks while they LOL on the way to the (toxic mortgage?) banks!
The Dems were admirable for fighting for every American’s right to own a home. It’s not just the American Dream, it’s the World Dream! Fannie’s and Freddie’s mandate was exactly that. They had to buy mortgage but without exposing their companies to extreme danger by charging more when the risks called for it. But Republicans didn’t want their Wall Street CEOs/friends/partymates to be regulated, they passed all those laws for more deregulation, deregulation, deregulation. Glass-Steagall Act was enacted to prevent a repeat of the crisis of the 1930’s, they tore it to pieces and here you are.
To keep you busy, google “McCain-Keating scandal” for today.
On Acorn, it is simply an interest group that promotes itself as champion of the low and middle income groups. It is similar to El Shaddai or Bayan Muna that uses its sheer numbers to blackmail the sitting government and get what it wants. It’s a foregone conclusion, therefore, that it will endorse Obama.
Using it to discredit Obama is lame.
It’s the homestretch of the campaign, issues no longer matter, they’ve been decided. Scandals, whether true or invented is the device of choice in the remaining days. The team that is about to lose will use more of it.
While you’re at it, look at your “President” McCain’s record in dealing with bank scams worth hundreds of billions of dollars here.
A week after the bail out what was there for me? Well, last Saturday this was what I got in my mail box. Three letters and on the envelop it said..open immediately impt. information inside..one was from Wachovia Bank where my mortgage is..with an invitation to get an equity loan..the other was from WaMu with pre printed checks and in the amount of $4,000.00 that I can use for a vacation or whatever it can give me..and the third was from American Express telling me that they have increased my credit line..If I use all three and apply for a loan..mahihirapan akong bumayad..ang bilis talaga ng mga banko magpautang..kaya nangyari ang nangyari and the gov’t had to bail them out…
In the late 80s and early 90s ang dali kumuha ng mortgage..no income verification lagyan mo ng tongpat ang sweldo mo at bahala na si FAnnie at Mae na kaibigan ng realtor mo or ng mortgage broker..at bahala na sila magbigay at magayos ng ARM mo..kaya nangyari ang nangyari
Tama ka Rose. Ganyan din ako. Me and my penurious net worth, puro alok – Wamu credit card, refinancing (four offers after the Lehman crisis), and two offers for car credits.
Yang credit crisis kuno, is about as genuine as the one million lead over FPJ.
Tama ka Rose. With my penurious net worth, nagkaroon ako ng tatlong credit card offers, four refinances, at dalawang car credit offres – all after the Lehman debacle.
The credit crisis is as genuine as the one million lead over FPJ.
The Gramm-Leach-Bliley – BANK DEREGULATION bill was made into law during the Clinton’s Administration in 1999. The law allowed commercial and investment banks to CONSOLIDATE. It tore down the artificial walls between financial institutions. Meaning, Bank of America could have not been able to acquire Merrill Lynch, which would have been impossible prior to Gramm’s deregulation. Merrill would either have gone under or been bailed out by the taxpayers. Similarly, J.P. Morgan wouldn’t have taken over Bear Stearns, and Barclays Bank wouldn’t be considering buying Lehman Brothers. Recently Wachovia Bank will not be able to consolidate with Citibank.
Democrats blame this bill for the current financial crisis. It is the Democrats Scapegoat. And Yet, Joe Biden , VP of Obama supported the bill. Robert Rubin and Larry Summers, Clinton Treasury officials whom Obama relies on for advice, supported it. Bill Clinton signed the BILL and admitted that it’s the democrats who opposed the Republicans to start regulating the Banks in 2003 and 2005. The regulation BILL will only extend loans to creditworthy customers . Instead, the democrats push for more deregulations thru CRA and the law of redlining. Obama sued Citibank for not extending loans to more minorities and underserved individuals which are mostly members of ACORN. Youtube search: Acorn and Obama.
Tongue, true it’s good to provide housing to low income people but the opposite had happened- a financial mess that affects the whole world.
Here’s a simple example: you lend money to your neighbor in pinas, knowing the fact that your neighbor has an unstable job with history of bad credit to others. There are two reasons why you lend your money to your neighbor, 1. you believe that you’re neighbor will pay you back 2. you have a big heart. Now your neighbor has only paid you for 1 year of the 5 year term loan ( for example). Who’s fault is that? It is Obama’s fault for extending credit to neighbors who cannot pay, period.
Deregulations by democrats to attack Republican author Phil Gramm of the 1999 Gramm Leach Bliley BILL is naïve. Today, Arnold Swazeneger announced budget deficit in the State of California, a democratic State. He is asking a 7B funds from Federal government.
Would you really lend your money to your friends and neighbors whom you already know that they have history of unstable employment, low credit score and have been receiving welfare benefits from the government? This will contradict the concept of teaching people how to fish rather than giving them fish…
Goodnite tongue. And Thanks Ellen( me reply is too long)
Tongue,
I have been a republican ever since I came to the US 18 years ago. I belong to the middle income and so with most of my pinoy friends. Most of us are not familiar of welfare and most of us have pride not to take advantage of the system. Obama as a community organizer, a strong supporter of Acorn, a lawyer who sues bank who don’t extend credit to low income families may be good for his people but his own people will hurt his OWN. ACORN registered dead people to vote for Obama and Obama did nothing about it. Meaning he agrees with ACORN. Google search Acorn, CRA, Subprime, and Obama as a Muslim ,lying that he’s never been… He was.
Thanks for the link about McCain. Republicans know about it and McCain acknowledge it. Obama is like Gloria who will not acknowledge fault. 🙂
Dandaw, this one is for you:
Senator Barack Obama released a statement honoring the Filipino American History Month that began last Wednesday, October 1. In his letter he celebrates the role of Filipino Americans in the story of America and communicates his personal connection to the Asian American and Pacific Islander community having grown up in Hawai’i and having family members of Asian descent.
Obama also pays tribute to the sacrifices and contributions of Filipino Americans “from farm workers who helped found the United Farmworkers Union, to the soldiers who fought bravely in World War II, to the thousands of nurses who have saved and improved countless lives.”
In addition, Obama details some of the policies that he would implement as president which will directly benefit many members of the AAPI community, such as ensuring that Filipino Americans have access to affordable healthcare, fixing the financial system, making sure that schools have the resources they need to educate all children–regardless of the languages they speak or their family’s income–and providing multiple paths to employment as well as helping minority-owned small businesses.
He also extends special recognition to immigrant families by acknowledging “many Filipino families rely on family reunification policies to help them build better lives in the United States” and affirms his commitment to keep immigrant families together through introducing amendments to that would dramatically alter U.S. immigration policy.
Rose,
Maghihintay na lang ako ng libreng pabahay ni former pres Carter. heheh!
asiandelight,
kung totoo lahat iyang pinagsasabi mo tungkol kay Obama, bakit hindi iyan ang gamitin ng MC/Palin campaign? bakit ang ginagamit nilang panakot ngayon ay ang asosasyon ni Obama kay Wright, Ayers at iba pa? hindi kaya dahil walang kabuluhan ang mga nabanggit mo kaya hindi kayang atakehin si Obama sa puntong pang ikonomiya? nakapagtataka na ang iyong mga kaibigan ay puro republicans. kahit saang dako ng amerika, ang lugar na maraming halo-halong lahi ay tipikal na democrat. tingnan mo ang mapa ng amerika, kulay asul (democrats) sa magkabilang dulo at pula (republicans) naman sa gitna. ano ang karamihan ng tao sa gitna ng mapa? mga puti.
ang deregulation ay plataporma ng republicans. ang sa kanila ay ‘trickle down’ economics. sila ay pabor sa business. sa kanilang paniniwala na kung malakas ang business, marami ang may trabaho. okey yan kung matino lahat ng hahawak ng busines. kaso ang kasabihan nga, kung wala ang pusa, naglalaro ang daga.nagpapasasa ang mga CEO ng mga kumpanya. ang lalaki ng sweldo. ang mga maggagawa, walang usad ang sweldo. ilang beses na bang pinigilan ni mccain at ng mga republicans ang pagtaas ng minimum wage? sumasang-ayon ka sa outsourcing? isa iyan sa dahilan kung bakit bumababa ang sweldo ng american workers.
tongue, nagulat ako at ikaw ay pro obama.
bitchevil,
ang ganda ng post mo. sama ako ng lima.
Hi Dana,
It is used now. Obama is now tagged as being a terrorist for bombing his own country. What Sarah Plain meant by that, is that Obama supported organizations to coerced bank to extend loans to uncreditworthy buyers. And also’s Obama’s close relationship to AYERS of which again Obama denies just like he denies being a Muslim..
Palin the pitbull brands Obama ‘pal of terrorist:
http://www.independent.co.uk/news/world/americas/palin-the-pitbull-brands-obama-pal-of-terrorist-952477.html
Obama was a Muslim.
http://www.danielpipes.org/article/5286
New York times: President Apostate
http://www.nytimes.com/2008/05/12/opinion/12luttwak.html?_r=1&oref=slogin
More and more people are now scared of this guy. This is now the Focus of McCain’s campaign. More surprise as election is nearing.
asiandelight,
sori, hindi ako sang-ayon sa punto mo dito. ang pagka-unawa ko sa sitwasyon ay ito: ang nangyari ay parang 5/6 na pautang. siguro alam mo pa ang ibig sabihin ng 5/6. nagpautang ang mga ganid na ito kahit na tagilid at alam nila na mahina ang kapasidad na magbayad ng mga umuutang. minsan wala pang down payment. sa papel, aba! ang lakas ng benta natin! ang daming umuutang! at ito namang mga utang na ito ay ibebenta nila sa isa namang kompanya, kaya naipasa na nila ang ‘risk’. nagpapautang sila ng alangan hindi dahil gusto nilang makatulong. gusto nilang tulungan ang sarili nila. sino ba ang may golden parachute? mga CEO.
Dana and Tongue,
you both have good points for Obama. But let’s look on the result of his actions. I agree that this is good for the people but how is he going to implement that. That’s a generalization , more like a promise. “He also extends special recognition to immigrant families by acknowledging “many Filipino families rely on family reunification policies to help them build better lives in the United States””
but again.. the result is the opposite-financial crisis.
Now let’s focus on how Obama will affect our fellow pinoy healthcare professionals due to his Healthcare Policy. The result of this policy if he wins will mean low salary and decrease of immigration qoutas. In our country Philippines, Democrats are against outsourcing of jobs.
asiandelight,
ito naman ang aking mga links:
it’s manure
http://www.time-blog.com/swampland/2008/10/embarracuda.html
its’ over
http://blogs.tnr.com/tnr/blogs/the_flack/archive/2008/10/05/it-s-over.aspx
kung gusto mo naman ng dirty politics, hindi ako magtataka kung gamitin ito ng obama camp:
POW left behind
http://www.nationinstitute.org/p/schanberg09182008pt1
Asiandelight, I’m not delighted by your portrayal of Obama. McCain’s camp is panicking. Unable to beat Obama in the surveys and polls, they now resort to this terrorist angle. This is the same strategy Bush applied in attacking Iraq…create a climate of fear to beat the enemy. However, Americans are smarter and wiser now.
that’s the problem when people are looking at present economic crisis instead of looking on the future. the result of who will become president. the consequences of one’s actions. I agree that Bush made a mess but majority of democrats voted for Bush to go to war in IRAQ. Clinton admitted that it’s the Democrats who oppose to regulate. McCain admitted his fault. Obama has not.
How would you react if democrats protectionism policy:
1. reduce immigration qoutas because they are fearful that jobs of america will be taken by immigrants.
2. Anti outsourcing
3. Obama’s healthcare policy that will hurt many of our healthcare pinoy professionals.
4. Will hurt our OFW pinoys with temporary working visas who are in the cruise line, hotel industries and many more …
I just don’t understand that my fellow pinoys are against own’s economic benefits.
Have you compare Obama’s platform with that of MacCain? Policies are not perfect. The challenges lie on their implementation. Obama’s policies may not be perfect; but the good intentions are there especially for the middle-class. What about MacCain’s policies? They are a continuation of Bush’s.
the mccain/palin campaign wants to change the subject. palin said ‘time to take the gloves off!’
BEWARE
McCain and the POW Cover-up
The “war hero” candidate buried information about POWs left behind in Vietnam
page 1
http://www.nationinstitute.org/p/schanberg09182008pt1
page 2
http://www.nationinstitute.org/p/schanberg09182008pt2
Palin’s husband is a member of the Alaska secessionist Party
http://www.guardian.co.uk/world/2008/sep/02/uselections2008.republicans20085?gusrc=rss&feed=worldnews
How will we benefit? The Republicans sponsoring Abu Sayyaf and MILF in exchange for $20M of flying coffins and dilapidated trucks? Rumsfeld-Cheney announcing the Philippines will come after Iraq? Thanks, but no thanks!
Hahaha, okey ka DinaP. Kargadong-kargado!
you know what girls… just vote for the ones who you think can best manage the country and of course, the policies that are beneficials to our country. the damage has been done by Obama and he is not even in office yet. How much more? It could have been better if it was Hillary. The democrats do not like Obama. http://www.youtube.com/watch?v=6Re0Z5xOC6w
I don’t know…but mere looking at MacCain and Palin tells me these two are racists. It’s just a feeling, though.
Its entertaining reading all these commentaries on the USA financial crisis and impending elections with very good analysis at that. Good for you guys in America or wherever. The reality is, here in the Philippines there are more pressing problems. Like the illegal occupant of malacanang by the pasig river who does not want to leave. How about someone there, specially NY tell us what amb. davide is doing there. Is he campaigning for mcain or obama? He’s the guy who conspired with gloria to steal the presidency from Erap. This guy is as corrupt as gloria.
its ok bitch evil:
McCain’s History of POW is not relevant to the housing crisis that america is facing.
everybody needs to know what caused economic crisis. try to watch this video and understand the whole thing..
http://www.youtube.com/watch?v=1RZVw3no2A4&feature=iv&annotation_id=event_743112
Greed and corruption caused the economic crisis.
asiandelight,
okay, convince me to vote for your candidate. Please explain the following statements:
‘fundamentals of the economy is strong’ – McCain
‘i can see russia from alaska’ – Palin, about foreign policy
Many Americans actually pronounce it as “funny mentals”.
If I were to make a WISE decision, I’d go with the Harvard topnotcher than the 5th bottom-dweller in the Academy batch of 890 graduates.
That may be relevant.
dana,
I see two sides of the story. we are sharing information but I don’t believe on welfare and healthcare for all because America is the land of plenty. I believe in contributing to the system not taking advantage of the system.
On McCain’s economy’s fundamental are strong and Sarah Palin’s , I can see Russia from alaska just like Obama for change and Unification of filipino family… are all political bull’s. Look on character, skills, experience , benefits to country of origin and benefits to oneself’s and family. Obama’s policy is perfect for Philippines propoor. Gloria should have done that. Subsidies to the poor because there’s really an obvious poor majority in our country. In the US… it’s totally different.
Greed and Corruption are the results of weak policy to extend and to coerced bank to loan money to low income families. It is the consequence of giving them fish instead of teaching them how to fish.
Do you really think that Obama will unify the filipino families. Why? are we divided in the US? Are we unemployed? These are questions that needs to be asked. Focus on policy and how is it going to affect your personal income , your extended family in the Philippines and your healthcare benefits. Weigh it and allow yourself to hear the other side of the story.
just vote . whoever wins will not affect me personally. I just go to work but I will also remain patriotic to Philippines.
I received an email from a friend in the PI, a nun, campaigning for Obama..attached was a letter of a UP professor endorsing Obama..Pero, sa palagay ko neither one of them (Obama or McCain) has a solution to the economic crisis..change for what? one party to another? Here in JC, a democrat stronghold..napaka corrupt..kaya ang tanong ko lang sa mga Obama supporters..sa dilim ng economy ngayon-bibigyan pa niya ng liwanag..would the dark side of it become any lighter..kasi kahit anong sabihin ni McCain or Obama madilim pa din ang kinabukasan ng marami..
Rose
The last four weeks of this election will be about whether the American people are willing to turn our economy and national security over to Barack Obama, a man with little record, questionable judgment, and ties to radical figures like unrepentant domestic terrorist William Ayers. Americans need to ask themselves if they’ve ever befriended an unrepentant terrorist, or had a convicted felon help them buy their house — because those aren’t smears, those are true facts about Barack Obama.
What Barack Obama has ever done that makes people believe that he is qualified to be President on Day One. In fact, his policies are both reckless and dangerous. Do people really want to gamble their own and their families safety and financial security on a candidate with a blank resume of any meaningful achievement in all of the areas of his costly and tax-laden socialist promises?
Like it or not Obama cannot get the win, it will destroy our country a thousand times more then what McCain will do and he will do things for sure that we do not like. But there is a difference and a scary one.
like it or not, Obama is a Democrat and McCain is a Republican. dyan lang umiikot ang politics sa america. wala ng ibang choice kasi mahina ang 3rd party at sayang lang ang boto. McCain’s policies will be a continuation of Bush’s. Can anybody point out the diferrence?. Obama and Mccain are both senators and basically have the same experience. Read McCain’s wikipedia entry. We can say McCain’s resume is also blank. we have seen how they reacted in real time with this economic crisis. while Obama’s demeanor was calm, McCain suspended his campaign. for what?
here’s another ‘gloves are off’ about McCain….
http://judicial-inc.biz/82jjohn_mccain_and_the_uss_forresta.htm
http://portland.indymedia.org/en/2008/02/371864.shtml
Obama / McCain Health Plan comparison….
DinaPinoy
Forget Health Care.It’s not my job to pay taxes so you can afford health care. It is my job to pay taxes to make sure our financial institutions don’t fail.Universal health care is not the answer. Many people can afford health care but choose to spend their money on other things and then complain they can’t afford health care. Businesses need to be accountable for their investments but so also do the American people need to be held accountable for how they spend (or waste) their money.
quite interesting to read about american politics in this blog. just wonder if ever gma decides to live in the usa, will she be a republican or a democrat.
John McCain.There was a little attention paid to him during the primaries because his campaign was running out of money. Many political pundits thought he would have to drop out.Well, they almost ejaculated when they found out who the VP pick was. Sarah Palin stimulated more than the base.The whole country became beguiled with this unknown female governor from Alaska. They became even more fascinated because she had some drama going on in her life.
Now.why the DEMS are afraid of Palin? Sarah Palin knows this is no time to pussy-foot around. It’s about time to call Obama out on his crap.When Sarah Palin speaks, everyone listens. She drove the debate ratings through the roof. Sarah Palin’s comments about Barack Obama being reckless and unqualified to be CIC needs to be repeated many more times right up to election day.
Palin is now driving Obama crazy.Gov. Sarah Palin accepted the nomination with the intention of winning and has engaged the democrats.What do Obama and Osama have in common? They both have friends who tried to blow up the Pentagon.Obama also hung around with Frank Marshall Davis, CPUSA traitor and child molester, Charles Manson admirer Bernadine Dohrn, Mark Rudd (works for Obama’s campaign)and of course hundreds of Chicago political criminals like the Daley crime Family, Rezko, Emil Jones, Larry Walsh (Barns for Obama), Penny Prizker ad nauseum.There is a guy named Jack Cahill is making a pretty compelling case that terrorist Ayers ghost-wrote at least one of Obama’s books.
Where are the million and millions of dollars coming from for Obama’s campaign fund? Of course those contributors will not invest in Obama expecting no return.
Mc Cain could not pour funds to media pundits.Remember Media’s business is money.
A bailout that needs bailing out in itself. Between now and 2012, something big might happen.
London Oligarch thru George Soros.
This video illustrates who George Soros really is.
From Tru blue,who says he can’t post his comments:
The “little resume” thing is a misnomer. Obama spent seven years or so in the Illinois state legislature and four years as a Senator. A professor of constitutional law for 12 years and was a magna cum laude at Harvard Law School. He also specialized in civil rights litigation
for several years. While in college, he majored in Politicial Science with a specialty in International Relations. How much more resume do we need
from him?
McCain was at the bottom of his class in Annapolis. Spent only 20 hours of combat flight, got shot down, spent five years as POW and came home a hero?? Spent almost 26 years in congress/senate and agreed with’ the Bush doctrine most of the time, and now – his message to the american
people is: Me and my Sarah will CHANGE and SHAKE Washington!
To know more of McCain, go to YouTube – type Angry McCain or HotHead McCain and see it for yourself. This is not person you really want as a President.
Women voters will cringed at his rants!! If this ass can call his own wife a “c*unt”in public, he”ll return such favor to his “Sarah”in office if elected.
GWB spent only five years as a governor of Texas. He spent campaigning for president one year after reelection. So, his five years experience as a governor got us a failed foreign policies, war in Iraq, and economic woes whom the americans are unhappy about as we speak.
Regarding Palin, I honestly believe she would have been ridiculed if she was in the mix during the presidential primaries. Fred Thompson, Guilliani, McCain, Romney and other republican dreamers would be blasting her obscure roles as a little town mayor and being a Governor of only 19 months. Now, they all agreed she can be president should McCain die while in office. These are hordes of double faced liars. Now that they’re losing, they resort to personal attacks, that’s nothing new to McShame.
As Tongue articulated, dems should bring out the “Keating Five”, his volatile temperament, his countless greedy lobbyists manning his campaigns, 13 cars and 11houses. McCain’s motive is evil, he doesn’t care about the middleclass. The Dems should also bring out Palin’s”troopergate”, her secessionist husband, and her hirings of classmates in her administrations, and blatant statement “she would not hire a black person in her administration.
what? lehman brothers, AIG, ‘OUR’ financial institutions?
A worry killed a cat, why do we worry of what the US is doing. They have more money to lose anyways. Lets worry on what we can do here on our own backyard. Lets head off any failure. Like getting out investments, and for the others try to take advantage of the death plans before Philam goes belly up.
Rose,
Nice take, iyan din ang sinasabi ng mga kapitbahay ko sa bundok na mga NJ/NY. Magtatanim na lang daw sila ng greens kesa sa pumunta sa voting place, sayang ang gasolina sa dalawang walang K na maging US president.
SumpPit, tnx for the links. Matagal na iyang alam ni Hillary. heheh!
Tita Ellen, I love what you wrote: swak na swak and it’s really true.
The “little resume” thing is a misnomer. Obama spent seven years or so in the Illinois state legislature and four years as a Senator. A professor of constitutional law for 12 years and was a magna cum laude at Harvard Law School. He also specialized in civil rights litigation
for several years. While in college, he majored in Politicial Science with a specialty in International Relations. How much more resume do we need
from him?
McCain was at the bottom of his class in Annapolis. Spent only 20 hours of combat flight, got shot down, spent five years as POW and came home a hero?? Spent almost 26 years in congress/senate and agreed with’ the Bush doctrine most of the time, and now – his message to the american
people is: Me and my Sarah will CHANGE and SHAKE Washington!
@etcetera,
thank you for your response. it really boils down to regulation, regulation, regulation. there’s a lot of talks that we are headed that way, but as you said, i really doubt it because the ever-powerful wall street won’t allow it going to the dark corners of a heavily regulated industry.
now, the bailout? i read through it and i was totally annoyed as ever. why in the world was there a tax credit for car racing tracks? hahaha! why in the world was there a tax credit for hollywood movies? rum industry? it’s bloody disguting! i have no clue what they were trying to resolve! those stupid tax breaks has got nothing to do with subprime and the very regulation that they need to look at! ugh! really annoys the shit out of me!
# norpil Says:
October 7th, 2008 at 3:34 pm
quite interesting to read about american politics in this blog. just wonder if ever gma decides to live in the usa, will she be a republican or a democrat.
….Neither. She will form her own Party.
I serve in the Food Pantry of our church and while the intent is to help and provide for immediate emergency assistance to make the two ends meet in a month..it is also a means for many to take advantage of this assistance..and even if they don’t really need the food..they will come and get a bag full of goodies..some would sell it for drugs..sad to say even Filipinos take advantage..ipapadala daw sa Filipinas..nangdadaya pa and they use two addresses..there should only be one/household pero one spouse would use the address of one child, the other would use the address of another…ang sabi nila sayang naman daw..libre naman daw at galing sa gobierno..sad to say the
democrats meant well but welfare system are most often abused..by whom? let us ask barack..
norpil,
Barack or John, makakasepsep si Gloria. Sigurado yan.
Your Highness, it’s not my comment. It’s Trublu’s. He can’t log in daw so he emailed to me his comments.
Chi, Gloria may be able to sweet talk McCain but not Obama. Gloria will be in trouble if Obama wins. Obama knows every crime she committed.
Your welcome, Reyna.
The Feds gave banks direct access to discount borrowing with an interest rate of only 2.5 percent. They (the Feds) could have easily given homeowner’s and non-banking business sectors the 2.5% interest, since $700B bailout was already approved.
http://www.alternet.org/workplace/80498/the_fed_and_crony_capitalism/
Apparently, the Feds will only help their own but not the homeowner’s and non-banking business sectors.
Off topic:
On philstar, Special Action Force of PNP was given several armored fighting vehicles. Are they preparing for something that will happen in the very near future? Is that martial law or con-ass?
Anything could happen between now and 2010. No less than Malacanang’s loyal ally and attack dog Miriam Santiago hinted that Malacanang is serious in pushing the Cha-Cha. My own analysis is that if this Cha-Cha fails, then some kind of emergency would be created to justify the Evil Bitch’s stay beyond 2010. Everything is in order. She has prepared for it from day one in office.
Investors are still punishing the financial markets. Merill Lynch lost 27% off its previous close! Bank of America down 22%! Morgan Stanley also -22% on news Mitsubishi is pulling out of the deal! Barclays down 19%. Dow drops below 10K for the first time in 4 years.
The nerves in Wall Street are fried!
re: the shrinking pandesal..gaano na ba kalaki ang pandesal?
mala maize or mala munggo?
sa tingin ko lumalaki ang mga ulo ng marami na nasa administration…wala na bang head shrinkers?
chi:
The LaRouche Movement are for the Clintons when it comes to economics. Maybe because the Clintons hinted that they will implement some core principles of the Movement.
On the other hand, according to Leo Zagami, the Oligarchy will support Obama, a 32nd degree Illuminati himself, hence an overflowing campaign budget.
Therefore, the US two-party system, when hijacked, is not immune to same manipulations that we have here.
__________________________________________________________
The Leo Zagami Forum is a very interesting resource.
Tru blue
“The “little resume” thing is a misnomer. ”
sorry to say that it is a misnomer. Is is fact that Obama’s experience is not good enough for this crisis in the WHITE house. Even Clinton and fellow democrats confirm that Obama’s experience is lacking and they even said that he is not fit to be commander in chief.
http://www.youtube.com/watch?v=E7ldV4QxtAA
“Obama spent seven years or so in the Illinois state legislature and four years as a Senator. A professor of constitutional law for 12 years and was a magna cum laude at Harvard Law School. He also specialized in civil rights litigation”
True, the litigation of loans to uncreditworthy individuals have caused the US economic crisis. Yes it is Obama’s style of of little management experience to extend loans to individuals with history of bad credits. He even sued Citibank for that.
Trublu.. give me facts that Obama’s experience is really relevant to this crisis. This is not a normal elections that experience and character can be sometimes ignored. America has suffered a big loss. This type of crisis , requires experience and managing Congress in a bipartisan manner. McCain is a maverick as well as Palin. Both are against corruption and open to bipartisan style of management.
When did Obama acquired experience to be bipartisan?
The difference between Bush and McCain is simply Bush is purely Republican but McCain is more on bipartisan.
Records show McCain is more bipartisan:
http://www.washingtontimes.com/news/2008/sep/15/records-show-mccain-more-bipartisan/?page=3
Good entries are already being put forward above reflecting the depths of knowledge that this blog has. But to complete our understanding about the topic, allow me to share this video…
1932, A True History of the United States
…with the belief that without a good extensive grasp of the whys, we will never be able to contemplate the hows in order to formulate possible solutions, and necessary course of actions.
At the outset, we might also be tempted to consider that “it doesn’t have to do with me” or “it’s a gargantuan task that we could not simply do”. But our job is indeed easy as we only have to subscribe and support that which have been put forward a long time ago. Such a proposal is so comprehensive as it does not only concern the US but the whole humanity.
I fully subscribe to the LaRouche Movement’s Technology-Based Economic Principles and the return to Treaty of Westphalia/Bretton Woods Agreement.
The Ultimate Enemy is the British Empire. We have been enslave then, as we are now. To defeat her, we need to unite with all the Resistance Movements around the world.
That is our task.
US lawmakers expressed outrage at perks AIG executives enjoyed less than a week after the bailout, including a spa retreat where they racked up bills for $200,000 for hotel rooms and $23,000 for spa services.
“They were getting facials, manicures, and massages, while the American people were footing the bill,” said Rep. Elijah Cummings, a Maryland Democrat on the oversight panel.
The oversight committee examined thousands of pages of internal documents produced by AIG and former executives.
The US goverment, which now owns 80% of AIG, can flex its muscles and kick these bastards out.
See, the US economic failure has even improved the status of my burial plans, its backed now with the US bailout of AIG. Its very comforting to die even earlier.
sa unang pagkakataon, sa kasaysayan ng kampanyahang pagka-Pangulo ng ‘Merika, merong plataforma de gobyerno sa wikang Pilipino ang isa sa dalawang kandidato.
tanging si Barack Obama lamang ang meron nito:
(barackobama.com/page/content/aapihome)
==========
tanong:
bakit mabilis pa sa alas-4 nakipagkita si John McCain kay pang-Gulo Gloria, samantalang si Barack Obama, ayaw harapin ito?
i really love Valdemar’s brand of humor.
Thanks Ellen. Following is a continuation of my post two days ago:
Asian Delight’s inflammatory inferrence of Obama’s religion as a Muslim was in poor taste! You make it sound like every muslim is a terrorist and that’s dangerous in America and in the Philippines. Bear in mind we don’t have muslims in both countries who goes around blowing themselve out because we have good responsible muslims in these countries.
Obama lived in Indonesia during his younger days as an elementary student in a Roman Catholic school, and never embraced the Muslim religion, but even if he did, it is a religion, respect their beliefs. Tying him up Ayers is preposterous. It has no merit. Asian Delight further argued that the “Democrats” don’t like Obama – Obama was selected by the brightests of the delegates and superdelegates of the DNC, well ahead of Hilary. The National Organization of Women threw in their support for Obama a few weeks ago, the National Association of Police Officer and the First Americans, all endorsed Obama. Women in general, along with the majority of white women in all the battleground states are for Obama. Asian Delight -please don’t be glued to Fox News, conservative radio talking heads such as Limbaugh, Elaine Crowley, crappy Ann Coulter and others, you are being brain-washed. I’m an Independent and am neither for the donkey or pachyderm, I keep an open mind about the issues.
Racism is the only WALL preventing Obama’s chances and people are so blind not to see thru. White America might just not accept a black man (he’s actually half-white) to occupy the White House, and this idealogy needs to be behind these deep-rooted conservative states. What I’d like to see however, are those rightwing extremists become “good hypocrites” and casts their votes for Obama. At the same token, I fear those so-called liberals who purport to be hardcore Obama supporters but tilt their votes for McCain comes election day. The Rightists espouses and huddles with the Aryan Nations, KKK, Skin Heads, and other racists organizations that creates destructions to the American way of life.
Never cared so much for US politics having lived in this country for almost 40 years, but this election is quite different. Obama is brilliant and bright. This is once in a lifetime for me and the millions who would love to see him win being a minority. His being nominated alone by his party speaks highly of him. Bill Clinton, during the 1992 debate with Bush 41 and Ross Perot said this: In my lifetime, I will see a minority become a US President. Heck, if Peru can elect a Japanese to lead them in their own country, why can’t the US, which is very diverse.
Asian Delight: what’s your definition of Commander-In-Chief?
If you are insuating a prior military service, Reagan never served; Bill Clinton was a draft dodger; Cheney avoided the draft with FIVE deferments; GWB avoided the draft by going to the National Guard, and Palin is qualified than Obama??
Palin can’t name a “landmark case” YET Exxon Shipping Co. vs
Baker happened in her own backyard when asked to name a monumental case. BUT, PALIN has a good recollection of a guy named AYERS some 40 years ago, SNL here’s one for you!
Asian Delight: Look at the current polls, whatever categories; OBAMA is leading all the way, that my friend says it all. A few minutes ago after Obama/McCain debate,
almost 300k voted and Obama is favored 53/36 percent!
Good day to all.
bulong sa akin ng isang Hapon; simula na ang pagtanggap ng taya ng mga underground gambling bookies sa Japan, tungkol sa eleksyon ng ‘Merika:
mananalo ng buo at kalahati o 150% ang sugal, kung kay McCain ka.
kalahati naman o 50% lamang ang bayad kung ang bet ay si Barack.
sa mga mahilig sa sugal, ano ibig sabihin nito?
thanks Tita Ellen, my bad.
what’s interesting though with what’s happening in Wall Street is the obvious failure of capitalism which is now being rescued by socialism and here, at least, that’s how i see it. worse, the gov’t seems inutile to act on Wall Street crooks, and yet, the national security – errr… world’s pala is at stake.
i thought that once the national security becomes to be at the core of some malicious activities, “lazy”-faire takes a back seat and police takes over. none of that in the bail-out.
while subprime is primarily being blamed by all (which Wall Street wants you all to believe), which is really true, the real culprit that brought down the behemoth investment companies with all their golden and glittering names is this: CDS, credit-default swaps. they literally created a humongous stock market in the dark corners of wall street completely unregulated. It’s called derivatives.
That’s right reynz. Defaults in mortgages are expected and reasonable failure is covered by corresponding interest rates. The meltdown is really the failure to cover those possible losses that should’ve been hedged in other papers. But they chose to lump all these trash in one basket with all the golden eggs because they turn up good profits and fat bonuses! Rated abnormally high by ratings agencies, and regulators looking the other way as they had been pressured by Congress and the Senate and the Oval Office, it was a big criminal syndicate at work!
Trublue,
I think you have lost your being patriotic to Philippines. Obama , ss his remarks suggest that he will not send jobs overseas, is likely to adopt protectionist policies. And don’t just look at what he says. Obama’s voting record is more anti-trade than McCain’s or even Biden’s.
Protectionism will benefit NEITHER the US, PHILIPPINES nor China.
Check who voted who? Obama’s Free Trade, Free Markets: Rating Congress http://www.freetrade.org/congress?senator=84
You are only looking within your side of story and yet you have not understand the world has evolved into globalization.
Zen, that means Obama has the greater chance of winning.
Whoa!? Asian D! which cave did you just crawled out from?
Now, all FilAms who will vote for Obama lost their sense of Patriotism?? Obama, should he win, casts no vote on Free Trade. Congress will debate that, besides, America’s head is barely sticking out of the sandbox with it’s economic problems, our lovely country is not a priority right now! Just like McPalin say: Country First! Tell your Ate Gluerilla and her croonies to slow down in ransacking the country’s treasury, that should alleviate our motherland’s sad status quo.
>>You are only looking within your side of the story>> read thru the lines of my comments – I’m an independent and keep an open mind.
Your perception of Obama is so negative, so why use words such as “suggest”, “more”, “likely”, “maybe”.
Zen: a good example of how ODDS work – Dela Hoya is currently at -210 and Ka Manny is at +175.
You lay down $210 to win $100 on Oscar
You lay down $100 to win $175 on Manny.
Ganyan lang yan Pareng Zen. Sa Japan, ganoon din. Bet
$100 to win $150 on McCain (dehado), bet $100 to win $50 on Obama (llamado).
Fil-Ams are evenly divided for Obama and McCain with Obama edging the latter. Asian-Americans are for Obama for as much as 20%. If nothing goes wrong between now and election day, Obama will win. But this early, his life is being threatened by the extreme right and white supremacists. If he wins, his security will be the main concern all throughout his term. America seems not to be ready yet for a Black President. Winning the polls during the debates and campaigns doesn’t help if people don’t register. And if they register, they should vote. What the Obama supporters must make sure is to convince his supporters to register and vote.
There’s report that oil is flowing in Palawan. The question is: Will the Philippines be able to entirely own it? GMA has long entered into a joint venture with foreigners for the oil exploration using their resources. Definitely, the foreign investors (China?) have a cut on this oil revenue.
bitchevil,
“America seems not to be ready yet for a Black President”
bingo, you got that right. it’s dangerous now for the black and whites. I don’t like the heat even at my work. It is not a normal election in America. I would rather not have Obam in office. He doesn’t have many friends at the white house. Majority remains to be white belonging to that generation. It’s fair for the people to pay extra taxes to secure Obama’s safety. Lots of hate is very obvious in youtube. Even the crowd are shouting: kill him.
That’s why… Obama is running at the wrong time when people are in distress and in financial stress. I don’t feel secure with him. Just like when I go to work or even driving the neighborhood. The feeling of security is lacking. It’s not a safe election. It would be different if Hillary ran for office. Hate and racism could have been avoided. god bless america.
BE,
That’s the answer to your persistent questions why JDV isn’t testifying on ZTE. Galoc well is owned by JDV and brother Oscar. He is even getting free advertisement from gov’t even if oil has been flowing long, long ago in that well. He will get his investors for sure, to finance full production. I’ve not read anywhere if Basic already got the service contract it was securing from Angelo Reyes. But that would be easy now that the De Venecias have partnered with Malacañang favorite Ricky Razon in Galoc via Forum Energy. That is the specific job of Razon – getting papers signed. If it was already given, you can bet he won’t testify anymore. ZTE Billions is peanuts compared to Oil and Gas.
Is America Ready for a Black President?
The question, “Is America ready for a black president?” however, does not accurately frame the Obama question. The question as applied to Obama reads something like this: Is America Ready to Elect the Most Far-Left Candidate in U.S. History? The answer to that question is a resounding, no. Unfortunately, many Obama supporters don’t know much about (thanks to the media) the real Obama; all they see is a nice looking, well-spoken black man selling hope and change.
If the Obama campaign and the so-called mainstream media (apparently, one and the same) continue to simplistically tie the question of “whether the country is ready for a black president” to their candidate they will have success among certain demographics. If they can make the election a matter of race and prejudice maybe they can appeal to the “white guilt” that Shelby Steele discusses in his book, “White Guilt.” Who wants to be labeled “racist” for not supporting a symbolically unifying black figure? The color of the man’s skin should be irrelevant, but unfortunately for many it’s not.
http://www.opinioneditorials.com/guestcontributors/mkuligowski_20080923.html
Sorry asiandelight, your McCain is slipping further down as the elections near. Your fears are irrational. For one, you’re not even white. Yet you are racist than most white people I know, even in Wall Street! No amount of campaigning in YouTube with derogatory videos will get the Internet generation to vote for McCain. Proposing to Kill Obama is a huge turn-off, a sure sign of panic, fear, and desperation. You don’t get sympathizers by threatening murder, duh! And you brand Obama as a terrorist?
Look at the Asians in your state of Florida, in California, Nevada and the others. AAPI specifically, they’re going house-to-house to get the people to vote for Obama especially in States where Bush won and they have been steadily gaining ground. Perry Diaz resigned the top post at NFFAR, the influential Republican Filipino association, dumped McCain and is now endorsing Obama.
Your negativity has turned off many Asians especially those who are quite sensitive to racist comments as it may also apply to them. It also suggests that the Republicans are issues-bankrupt and would rather attack the opponent’s character than sticking to the soundness of McCain’s own policies and promises.
Wake up, it’s not just the negroes, nor the communists, nor the media that you’re isolated from. It’s the whole world endorsing Obama, for crying out loud. We’ve had enough of George Bush and his scheming lying pals. It’s time for change.
Change we can believe in. The whole world deserves better.
Asiandelight, you should change to Whitedelight or KKKdelight.
You said you don’t feel secure with Obama. Well, I got bad news for you. The minorities including Asians and Filipinos don’t feel secure with you too. It’s true that Obama wants to be President but the timing is bad not because he’s Black but because of the very serious economic crisis the US faces due to that war freak Bush’s eight years of mismanagement. Two or three decades ago, Obama would have no chance. Today, most of the voters are the youth who are not as bias. The problem lies with the KKK and the white supremacists…these fanatics who might harm Obama. That’s the reason why Gen. Powell’s wife stopped him from running.
SARAH PALIN’S 18 LIES:
1. FANNIE MAE/FREDDIE MAC: Palin said “it was John McCain who pushed so hard with the Fannie Mae and Freddie Mac reform measures,” but fact checkers say that’s “Quite A Stretch” And “Barely True,” and that McCain was a “latecomer” to the discussion.
2. FUNDAMENTALS ARE STRONG: Palin tried to say “John McCain saying our economy was strong” but McCain has used the phrase “The Fundamentals Of The Economy Are Strong” At Least 16 Times This Year.
3. PARTISAN POLITICS: Palin said McCain is “known for putting partisan politics aside to just get the job done,” but he has voted with Bush 90% of the time in the Senate and bragged about his support for Bush on important issues.
4. TAXES ATTACK: Palin repeated the attack that Obama voted for higher taxes 94 times, which the New York Times says is “false,” CNN says is “Misleading,” and FactCheck.org says is “inflated.”
5. TOBACCO REGULATION: Palin said to “look at the tobacco industry” as an example of McCain pushing for even harder and tougher regulations. But McCain opposed expanding the SCHIP children’s health insurance program for 5.8 million children because it would increase tobacco taxes.
6. SPENDING INCREASES: Palin said Obama is is proposing “nearly a trillion dollars in new spending,” but didn’t mention that he has also proposed cuts to balance it out, an attack CNN has already debunked as “misleading” and that ignores the far larger cost of McCain’s tax cuts and spending hikes.
7. HEALTH CARE: Palin claimed Obama’s health plan is “government run” which has been widely debunked as a “canard.”
8. HEALTH CARE. Palin says taxes wouldn’t go up under the McCain health care plan, a fact even his own campaign has acknowledged isn’t true.
9. TROOPS: Palin repeated what the AP called the “highly misleading” attack that Obama opposed funding for the troops, and Factcheck.org notes that the same methodology would lead to the same conclusion for McCain.
10. GLOBAL WARMING: Palin said “I don’t want to argue about the causes” for global warming, when she has clearly taken the position that she doesn’t not believe it is man-made.
11. MCCAIN IS CONSISTENT: Palin said McCain” doesn’t tell one thing to one group and then turns around and tells something else to another group,” when that is exactly what he has done on immigration, telling Hispanic leaders he was for comprehensive reform instead of the enforcement focused approach he has taken with conservatives.
12. MCCLELLAN NOT MCKIERNAN: Palin referred to the US commander in Afghanistan, David McKiernan as “McClellan.”
13. MCKIERNAN ON “SURGE:” Palin said that [McKiernan] did not say a surge wouldn’t work in Afghanistan, when just yesterday he said “The word I don’t use for Afghanistan is ’surge,’ ” McKiernan stressed, saying that what is required is a “sustained commitment” to a counterinsurgency effort that could last many years and would ultimately require a political, not military, solution
14. KILLING CIVILIANS. Palin said “Obama had said that all we’re doing in Afghanistan is air raiding villages and killing civilians and such a reckless, reckless comment and untrue comment again hurts our cause. That’s not what we are doing there.” Unfortunately, the Associated Press says that Obama was right in discussing a critically important point about avoiding civilian casualties.
15. TEACHING: Palin said we need to make sure “that education in either one of our agendas, I think, absolute top of the line,” when McCain has repeatedly favored tax cuts for the wealthy over funds for more teachers and class size reduction.
16. PARTISAN APPOINTMENTS: Palin said “You do what I did as governor. And you appoint people regardless of party affiliation. Democrats, independents, Republicans, you walk the walk, don’t just talk the talk” when she repeatedly appointed friends and supporters to positions for which they weren’t qualified.
17. FOCUS ON CLIMATE CHANGE: Palin falsely claimed that she was the first governor to form a climate change subcabinet, when at least 28 states had already taken action.
18. DARFUR DIVESTMENT: Palin claimed that “when I and others” found out that the state had money invested in Sudan that “we called for divestment,” when the reality is that Palin’s appointees worked to kill a Darfur divestment plan.
tongue,
“Change we can believe in. The whole world deserves better.”
a very naive statement. do you really think Obama can fix the world for the better? Bush war in Iraq was approved 77% out of 100 senators. Check out the policy on who voted for the war in Iraq. Hillary, Biden, and Mccain voted for it. who’s fault? is not only george bush… majority of the senate played an important role. Majority thought they will make a return on investment quicker. They will but in the long term.
http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=107&vote=00237&session=2#top
bitch evil , give me solid facts that those 18 lies are truly lies. statement must be supported to provide a valid claim.
Policies will not be implemented if majority did not vote for it. To check Obama’s voting records will not apply because he’s only been in the Senate for 4 years. He’s never been involved in any major policies.
Tongue, provide solid support that pinoy in florida , california and nevada are for Obama. I don’t know any pinoy US citizen doctors, therapists, nurses that will vote for Obama, at least in my network. Most of them are busy working and do not have time to participate in online polling that Obama is claiming to win.
I don’t even participate in online polling but I will vote.
I withheld my comments on this topic as most posts were by expat Pinoys debating the issues involving the coming US elections. I now join the fray with cudgels for Pinoyland.
Ofreneo criticized the Arroyo government for its “business as usual” response to the crisis. He said “There’s no game plan to protect the economy,” Ofreneo said it’s not only the export-oriented electronics industry that will suffer from loss of jobs but also the young Business Process Outsourcing (BPO) industry, around one-third of which services American financial companies, and added Democratic presidential candidate Barack Obama has adopted a “more protectionist” policy than the Bush administration.
GMA official sycophants did not dare speak out until uncommitted economists started the foreboding omens. Labor Secretary Marianito Roque said the Department of Labor and Employment’s (DOLE) “worst-case scenario” is that up to 50,000 workers could lose their jobs in the US and other countries affected by the US-led financial meltdown.
Shades of my forecast in Questions on economy for Arroyo
• neonate Says: October 3rd, 2008 at 8:16 am
The fact that Ate Glue’s economic managers combined and called the panic presscon and did not get their act together gave me the feeling that they have no clue about the effects of the U.S. predicament, how it splatters into Pinoyland, or if there is even a problem. This raised my own level of anxiety. If this administration can’t be of any help, I have devised my own what-ifs.
I expect the global slowdown will negatively affect OFW remittances and consequently, consumer spending, BPO and call center activity. Oil prices may tumble as world demand shrinks, but local inflation will tend to go up, discouraging savings that loses value at 12% or more.
In viewing the impact of OFW remittances and how it affects the economy, we need to realize that the eight million OFWs remit to families totaling 40 million Filipinos, about half of the population, or the majority of the middle class, if you will.
Given the above, the following would be great questions for Barack Obama
1. Why did you stand silent in 2005 and vote with the other Democrats to block very financial reforms which would have prevented the current crisis in the financial markets?
2. One of the primary reasons so many bad mortgage loans were made in the first place is that “community organizers” like ACORN, for which Obama worked, spent decades pressuring banks and bank regulators to do more to make mortgages available to people without much in the way of income, assets, or credit. These campaigns often were couched in racially inflammatory terms. Does Obama still think that banks should have made these loans?
3. Why did you not favor punishment for the former CEO of the bankrupt Fannie Mae, Franklin Raines, a man who personally made $90 million over a few years while cooking the books Enron-style at Fannie Mae? And why did you have Jim Johnson, former Fannie Mae Chairman, helping you pick you VP before the pure embarrassment made him resign?
4. How can you blame John McCain and the Republicans for this mess when you yourself supported the easy credit policies and refused the needed reforms for these programs?
Even Bill Clinton knew
http://www.youtube.com/watch?v=XsynspIqAoE&feature=related
Fannie Mae CEO, Daniel Mudd calling Obama and the Dems the “Family” and “Conscience” of Fannie Mae. He admitted that Fannie Mae has lent more money to more minorities and more underserved individuals than any single company in history.
http://www.youtube.com/watch?v=usvG-s_Ssb0
Feeble references from a feeble mind. Asian Delight, please grow up and grasp the realities sorrounding you. Let me just respond to the following childish crappy quips you stated:
hate and racism could have been avoided – really? all presidents were whites, hate and racism are flourishing!
It’s not a safe and normal election – it will be safe and normal if Republicans don’t cheat in neutral Florida.
It would be different if Hilary ran for office – you are so bitter! get this stuff behind you. Barbra Streisand did!
Don’t feel secure with Obama – current POLLS say they are!
Not secure when I go to work or even driving the neighborhood – you are in a BAD republican neighborhood, move to a more liberal and peaceful area.
Feeling of security is lacking – tell me about this in four years, if Obama is elected. 9/11 ocurred during GWB!
Obama doesn’t have many friends in the White House – only pupils in the primary level asks this question!!
Lots of hate is very obvious in YouTube – very true, they are rednecks, anti-semites, hillbillies, and people like you who patronizes the Ted Turner Diaries spewing racism.
Even the crowds are shouting kill him – what’s the point here? I can guarantee you, should Obama be felled by a bullet before election day, the more McCain will not win.
It’s dangerous now for the blacks and whites – dangerous in terms of what? some of them didn’t like each other yesterday, today, and am sure tomorrow.
I don’t like the HEAT even at my work – Now, this has more substance. Campaign aggresively for McPalin in your workplace, nothing wrong with that. Show them what you posted above including ALL your weak references. Explain how McCain’s idealogies will get the american people out of these doldrums!
My youngest daughter is a part time Psychologist and SAHM. You need some help obviously and I can get a red eye for her if you desire, where ever you are.
I love reading this Obama McCain fight between you guys! Hahaha! This was supposed to be a financial chorva but as is always, naging political! I do commend Asian Delight for standing up to what he believes and likewise to trublue. But I’m not joining you guys on your discussion. I already know who I am voting for! HAhahah! And no amount of negative airtime nor presidential debate will sway my opinion.
Meanwhile, tune in to the world. The stock market are plunging all over the place.
trublu,
we do need need to agree on things we disagree. i can sense hate towards another asian who happens to be a republican. anyway… let’s see what happen. The Change that you expect might be too late for you personally.
“You need some help obviously and I can get a red eye for her if you desire”
typical pinoy in america.
Asiandelight and Cocoydelight, I’m with you all the way. Your debacle about the US. economy is very clear. You seem to be an informed citizen. I don’t know why some of the bloggers here are for Nobama. If he wins its because of ACORN. Obama was born in Kenya. He has 3 different names: Bunham, Soetero and he is a Muslim. In the Muslim world nobody name their son Hussein if they are not Muslim. I thought you guys do not like Pandak because she is a liar and here you are going to vote for a liar to be President of the US. We are really in deep do do are’nt we?
here’s an explanation of credit default swaps…
http://www.youtube.com/watch?v=a1lVOO9Y080
Now imagine this scenario played out on a global scale, with the health of multinational banks and corporations — and the portfolios of untold individuals — at stake.
Fannie Mae and Freddie Mac should be rated AA…
http://www.youtube.com/watch?v=IMJciPFv5BE&NR=1
connect all that with Obama’s ACORN , CRA extending loans to uncreditworty individuals . it is a fact that Obama’s legal experience is in litigation… Has he really understood the consequences of his actions? what is he going to to next? His relationship with previous Fannie CEO Raines cannot be ignored.
http://www.youtube.com/watch?v=68D9XrqyrWo
Barack Obama & Friends Caused U.S. Economic Crisis
http://www.youtube.com/watch?v=RbkEAR2GgiA
i hope people will get it this time.
“a very naive statement. do you really think Obama can fix the world for the better? Bush war in Iraq was approved 77% out of 100 senators”
No, I’m not sure Obama can fix it. He may or may not. But what I’m sure about is that McCain CAN’T!
Bush war was approved because he fooled the the United Stupids that Iraq has weapons of mass destruction. Now who wouldn’t want to stop Iraq from using those? Bush lied bigtime, the whole world believed him, there was a brief animosity between the US and France and the world took his side because EVERYBODY BELIEVES IN AMERICA. Well bad news for you, asiandelight. Because of your lying president, NO ONE believes you anymore. The WMD is a monumental debacle that shamed the Americans before the whole world. You want to perpetrate that lie, and the animosity and isolation? Go ahead, be my guest. Vote McCain and Palin!
And you know what, just to prove you wrong, I will stop campaigning for Obama and will instead push for McCain and Palin, and I hope they win. God help you.
I love the smell of Republican fear and panic in the morning.
Vote McCain-Palin!
-They will get the Americans out of this mess (that Obama created)!
-They will discover where the weapons of mass destruction are (But Obama will not because he will just pull out)!
-They will capture Osama Bin Laden and the rest of the Al-Qaeda (And all the trillions spent on the two wars will be worth it)!
-They will make sure dictators like Gloria will never rule the Philippines (They can change them with new ones)!
-They will jail all those criminals who milked the financial system (including Obama’s friend, Raines. Paulson will join them in his own cell later, McCain will be immune from suit.)
-They will make life better by cutting down taxes for the rich and big companies (so that they can create more jobs…in China!)
-They have begun to solve this crisis permanently (by providing funds to NASCAR and companies making wooden arrows, just brilliant, ain’t it?)
-The Paulson Plan is working, right? It should be, he’s Republican! (The stock market has lagged by more than a fourth of its value and the bottom is still nowhere in sight. I love volatility.)
-McCain represents Fil-Ams. Pinoys hate blacks, Muslims, and intellectuals. (We prefer the types of Erap and Reagan or Arnold. Yeah George Bush too!)
-They will also serve the middle class. (After 4 years, the job will be easy, there will be no more middle class!)
McCain and Palin all the way, stupid world!
I know, I know, I said I’m not joining but I could not take it. Asian delight is dead wrong by faulting Obama on the financial crisis. Sorry. I know how this subprime creeped into Wall Street. Click on my subprime articles on my blog.
McCain’s economic plan is even a very very sorry plan. You don’t need to have an MBA to figure out that when you buy bad debts and mortgage note receivalble that are uncollectible even a junior accounting student will tell you that it’s a really, really bad idea.
If anything, American people are not stupid. We understood things and we know how to select a good candidate. McCain and Palin campaign really brought this presidential campaign to it’s ugliest level ever, surrendering any high moral ground.
After blasting us with negative campaigns that Obama is dangerous, an arab, a traitor, McCain supporters are now claimoring to harm Obama. Now, if you’re a McCain supporter, i now doubt your judgement. As is America is doubting McCain and Palin.
Result? Obama has now a double digit lead with McCain. Yes, the American people are getting it.
I’m not here to have a personal fight with you Asian delight, but let’s say for the sake of argument that you are right, how come the polls are showing otherwise?
In my blog, I predicted an Obama landslide. With double digit lead right now, and even Pennsylvania now leaning heavily to Obama? my prediction is slowly forming into a reality.
It’s the issue. It’s not the personality.
Reyna,
“I’m not here to have a personal fight with you Asian delight, but let’s say for the sake of argument that you are right, how come the polls are showing otherwise?”
It is because most people are just quiet about it. Both parties are tired of politics. Plenty are losing money on their retirement. Most people think that Obama or McCain can do something about it. The bail-out will take some time to cure the mess. Why Obama is winning the polls, I have no answer to that. He is very popular which is good but people need to realize that the damage has been done. The guava fruit will not fall unto Juan’s face.
No, we don’t need to attack each other personally. Whoever wins, will not affect my career. If you think that voting for Obama will enhance your career then I will respect you for that. It’s your choice. My opinion is mine and is not for everybody. Even if you doubt my judgement, it’s ok my judgment is not for everybody. Let’s have some sanity and a healthy discussion here.
For discussion purposes, I have a question. ACORN is supposed to be a non partisan organization but why is this organization endorsing Obama? There’s an obvious conflict of interest. When conflict of interest exists, corruption has already occurred. Could it mean that Obama can be bought and can easily be influenced just like our politicians here in the Philippines?
20% of the bail-out will go to ACORN .
Shocking!—Democrats Trying to Give Bailout Money to Obama’s Owner ACORN
http://www.youtube.com/watch?v=YxHancIezQA&feature=related
What about solution to the US financial crisis and home foreclosures on the rise? Who would buy these properties if unemployment continue to rise?
The United States can possibly expand the quota of skilled immigrants as recommended by Allan Greenspan. The demand for skilled workers has been there since 2005. This will kick- start home sales. Bringing well-paid, skilled workers to the United States such as our many pinoy nurses and therapists ( for example) would generate additional demand for homes and help get some distress homes off the market. Not even for sale but for rent.To create demand for buyers, middle income earners must be created. Where do they come from?
Now, which policy favors free trade and free markets? Which party will implement protectionism?
Do you think protectionism policy will help the US ailing health care demand of professionals? If qoutas are decreased from 75,000 a year to 30,000/year due to democrats protectionism policy, would it help our Philippine economy? Maybe not. It is obvious that free trades and free markets favored by republicans will be advantageous to Philippine economy. Vote Republicans 🙂
dandaw says:
october 13th, 2008 at 3:30 am (edit this comment)
here’s: the line-up for bitchevil
barack hussein obama dba: soetero, bunham – president of the united states.
vice president – joe biden
secretary of states – louis farrakan
secretary of finance – rezko
sec. of the treasury – al sharpton
sec. of national defense – william ayers
sec. of commerce – jesse jackson
sec. of health and human services – jeremiah wright
us ambassador to the un – father flegger
october 13th, 2008 at 4:11 am (edit this comment)
guys, father flagger and jeremiah wright are all good debaters so with barack but talking and doing the right things have two different effects. it has been proven and tested the integrity and honesty of mccain and palin. obama voted 136 times “present while in the senate” is that good accomplishments? the campaign money donors of obama are all questionable. example: it was listed that a debbie meyers from palos verdes contributed $27,000.00, the fbi checked it out and the only debbie meyers in palos verdes is a gynecologist and did not contribute a dime to obamas campaign. this meyers has so many adresses and they are all fake. again a job of acorn. dead people are voting in all places. drug addicts and homeless are all registered by acorn. the fbi went to the headquarters of acorn and they confiscated a lot of fake voters registrations. the fbi are right now investigating all of acorns illegal activities. does’nt that remind you of pinas? “hello garci”
dagdag, bawas? maybe obama was coached by pandak. to rest your mind pandak will probably contribute to obama because they are both cheaters. and for those bloggers that are still questioning about iraq, the surge is working. why would any body listen to obama when he never served a day in the military. we should listen to gen. petreus, he is tested and have some good results. obama? he was a community organizer, organizing acorn and with william ayers. who is william ayers, he is the guy who bombed the pentagon.
a solid fact that Obama will be facing impeachment once in office due to ACORN: Obama will be like Gloria.
Obama provided $800,000 to Acorn for voter registration. Is this not a conflict of interest? Acorn on its website says that it is a non partisan and yet endorse Obama as their presidential candidate? sounds like Philippines.
http://www.youtube.com/watch?v=iM708EjH0bs
Dandaw, please don’t write your comments in all caps.
Clinton, Reagan and Bush 43 never served in the military!
Obama’s campaign contributions are ALL questionable – no one was charged up to this point and so is McCain’s questionable contributions from the KKK/White Supremacists
There’s no such thing as 27K contribution to Obama on record
He was not an ACORN organizer, but a Project Vote organizer
800K contribution to ACORN not an issue, no one charged
ACORN Office in Las Vegas was raided, no one charged
ACORN helps the poor blacks, browns, hispanics and whites
If ACORN was a sinister organization, GORE or KERRY would have won previous presidential elections
Ayers bombed the Pentagon with FIRECRACKERS! Timothy McVeigh
who was a KKK, White Supremacist sympathizer like Senator Lindsey Graham (McCain’s Best Friend!) detonated the Federal Building Alfred Murrah killing 168 innocent people
Nothing wrong with ACORN endorsing Obama. The Order, KKK, and other Hate Groups endorsed McCain. What gives!?
Dagdag. bawas!? Hello? election hasn’t started yet! And no ones knows if those people registered by ACORN, will ACTUALLY vote for Obama.
ACORN, a cause for impeachment? Asian Delight – this is the kind of lame rhetoric from you that I abhor and makes me again question your mind’s stability, I don’t mean that in a derisive way but a friendly one
Stephen Moore, a sniping Rodent of McCain was arguing with Solon Maxine Waters of LA about ACORN a few days ago and he keeps mouthing off. Maxine sharply asked Stephen Moore what does the acronym ACORN meant?! Stupid moron Moore doesn’t KNOW!! And he’s a journalist!
These unncessary raids on ACORN offices nationwide is JUST a PRETEXT for the republicans to cry foul when swing states
election returns/results are favoring the dems especially in a tight vote counts.
I’ve said the same statement Tongue said, in another Pinoy blog a month ago – about McPalin winning this election. I would love to see them win and see what happens to a 12 year consecutive republican rule. It doesn’t affect me one bit. I can eat peach all day.
@Asian Delight,
On the contrary, it was the McCain-Palin who indulged heavily on a negative campaign against Obama “PERSONALLY” and it’s still on-air in Pennsylvania (where I live) where the state was predicted to go to McCain but is now very heavily going to Obama.
McCain and even Sarah herself charged Obama to have pallied against terrorist. People are not stupid. Obama was 8 years old then! McCain continually attacked Obama with words on the air as “dangerous”, “risky” and all that, that’s why the McCain supporters are now clamoring to kill Obama. The rage is too obvious on the McCain campaign! I have seen that on CNN, and all the other networks.
Big question: why is McCain and Palin resorted to personal attacks? Because McCain and Palin have no more message to America.
(PS let’s limit our discussion without attacking each other personally! :-))
After bringing this Presidential Election campaign to be the ugliest in history, John McCain is now complaining that Congressman John Lewis’ comments represent a character attack against Gov. Sarah Palin and him which according to him was shocking and beyond the pale. Ow, really?! Just who indulged in a lot of negative campaign to the point of fueling McCain supporters to even chant to kill and to call Obama a traitor? Dangerous? Risky?
I agree that Sen. McCain and Gov. Palin were sowing the seeds of hatred and division, and Congressman John Lewis was right in his statement to condemn the hateful rhetoric that John McCain himself personally rebuked just last night, with even Sara Palin saying that Barack Obama ‘pals around with terrorists.’ Heck! Obama was 8 years old then! Helllo!!! What about saying that Palin pals around taunting everyone with her powers?! At least Alaska state investigators found that to be true!
All I know is that the John McCain – Sarah Palin is headed for defeat. They have no message for America other than creating a lot of animosities and hatred with Obama and Democrats. This has been the most divisive election campaign in my memory. At a time that they should make clear to the American people what they’re going to do to make our lives better, what better way to do than continue to negatively attack Obama.
which US political party is helpful for poverty? protectionist or free trade/free markets?
Asiandelight. The answer is Welfare. That Government should help the people from cradle to grave mentality so they can buy booz and drugs and fatten themselves. Remember during the Katrina? The welfare people in New Orleans when they got their money, they went to the prostitution places and bought expensive jewelries. Those are the kind of people that would vote for NOBAMA. And Obama will gladly give them those previleges. I have the feeling that Asiandelight is a graduate of Wharton School of business, it seems that you got it down path about the economic situation in the US. To True Blue and Reyna Elena, you should listen to Asiandelight for the true facts. And bloggers please read Newsmax. It is a very informative read.