Saturday, September 27, 2008

Democrats own words...

Democrats Covering up the FannieMae, FreddieMac Scam in this YouTube video in 2004.
Do not vote Democrat this year!

my bank is not in trouble!

Valley National Bank is doing ok in this credit market crisis.
I bank at Valley since it was a 6 branch, 2 city family bank in Passaic & Clifton - Bank of Passaic & Clifton.
VLY share price closed 21.48 Friday.
Valley's Credit Quality Focus on loan quality and profitability over growth. Proven record of superior asset quality throughout various economic cycles. Have always abstained from exotic residential mortgage structures and other volatile products, including sub-prime loans, option ARMs and high loan to value home equity and residential loans

September '08 Financial statement via Edgar Online

MBS & GSE?

Mortgage-Backed Securities & Government Sponsored Enterprises
Mortgage-backed securities (MBS) are investment in mortgage loans. MBS issued by Government National Mortgage Association (GNMA or Ginnie Mae), Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac), and Federal National Mortgage Association (FNMA or Fannie Mae).
More details here.

Government-Sponsored Enterprise (GSE)are privately held corporations created by U.S. Congress. GSEs carry the implicit backing of the U.S. Government, but they are not direct obligations of the U.S. Government. Examples of GSE: Federal Home Loan Bank, Federal Home Loan Mortgage Corporation (Freddie Mac), Federal Farm Credit Bank and the Resolution Funding Corporation.
via Investopedia.com
Almost one and the same. The former are investment instruments and the later are corporations.

Powerful video on Life

must see this video and please spread it. You don't have to be catholic to be for Life.

Friday, September 26, 2008

Tuesday, September 23, 2008

GOP platform says 'NO Bailout'

Rebuilding Homeownership
Homeownership remains key to creating an opportunity society. We support timely and carefully targeted aid to those hurt by the housing crisis so that affected individuals can have a chance to trade a burdensome mortgage for a manageable loan that reflects their home’s market value. At the same time, government action must not implicitly encourage anyone to borrow more than they can afford to repay. We support energetic federal investigation and, where appropriate, prosecution of criminal wrongdoing in the mortgage industry and investment sector. We do not support government bailouts of private institutions. Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself. We believe in the free market as the best tool to sustained prosperity and opportunity for all. We encourage potential buyers to work in concert with the lending community to educate themselves about the responsibilities of purchasing a home, condo, or land.
Republican policy aims to make owning a home more accessible through enforcement of open housing laws, voucher programs, urban homesteading and – what is most important – a strong economy with low interest rates. Because affordable housing is in the national interest, any simplified tax system should continue to encourage homeownership, recognizing the tremendous social value that the home mortgage interest deduction has had for decades. In addition, sound housing policy should recognize the needs of renters so that apartments and multi-family homes remain important components of the housing stock.

via Erick Erickson, Redstate

Monday, September 22, 2008

What will Obama, Clinton and Dodd do today?

From Kevin Hassett at Bloomberg wrote today...
Now that the collapse has occurred, the roadblock built by Senate Democrats in 2005 is unforgivable. Many who opposed the bill doubtlessly did so for honorable reasons. Fannie and Freddie provided mounds of materials defending their practices. Perhaps some found their propaganda convincing.
But we now know that many of the senators who protected Fannie and Freddie, including Barack Obama, Hillary Clinton and Christopher Dodd, have received mind-boggling levels of financial support from them over the years.
Throughout his political career, Obama has gotten more than $125,000 in campaign contributions from employees and political action committees of Fannie Mae and Freddie Mac, second only to Dodd, the Senate Banking Committee chairman, who received more than $165,000.
Clinton, the 12th-ranked recipient of Fannie and Freddie PAC and employee contributions, has received more than $75,000 from the two enterprises and their employees. The private profit found its way back to the senators who killed the fix.
There has been a lot of talk about who is to blame for this crisis. A look back at the story of 2005 makes the answer pretty clear.

Saturday, September 20, 2008

Neal Boortz explains...

Townhall.com, Neal Boortz explains domino mess credit woes of investment banks in sub-prime mortgage...
Political correctness won the day. Washington made it clear to banks and other lending institutions that if they did not do something .. and fast .. to bring more minorities and low-income Americans into the world of home ownership there would be a heavy price to pay. Congress set up processes (Research the Community Redevelopment Act) whereby community activist groups and organizers could effectively stop a bank’s efforts to grow if that bank didn’t make loans to unqualified borrowers. Enter, stage left, the “subprime” mortgage. These lenders knew that a very high percentage of these loans would turn to garbage – but it was a price that had to be paid if the bank was to expand and grow. We should note that among the community groups browbeating banks into making these bad loans was an outfit called ACORN. There is one certain presidential candidate that did a lot of community organizing for ACORN. I won’t mention his name so as to avoid politicizing this column.
These garbage loans to unqualified borrowers were then bundled up and sold. The expectation was that the loans would be eventually paid off when rising home values led some borrowers to access their equity through re-financing and others to sell and move on up the ladder. Oops.

Fear lead to Panic

a friend has a money market account with a major bank that is over the limit of FDIC guaranteed coverage and wanted to withdraw the excess amount asap on Wednesday. This Wall Street Journal article mirrors her fears..
Huddled in his office Wednesday with top advisers, Treasury Secretary Henry Paulson watched his financial-data terminal with alarm as one market after another began go haywire. Investors were fleeing money-market mutual funds, long considered ultra-safe. The market froze for the short-term loans that banks rely on to fund their day-to-day business. Without such mechanisms, the economy would grind to a halt. Companies would be unable to fund their daily operations. Soon, consumers would panic.

Bank money market funds are covered by FDIC and joint accounts are covered as 2 accounts.
If a couple has a joint checking account and a joint savings account at the same insured bank, each co-owner's shares of the two accounts are added together and insured up to $100,000, providing up to $200,000 in coverage for the couple's joint accounts.

Sarah Palan: An American Original

says Steven W. Mosher, President of the Population Research Institute & author of Population Control: Real Costs and Illusory Benefits.
Twelve statues of the Madonna of the Trail grace towns along the roads that took our ancestors West. But I suggest that we may have to add another. The town square of Wasilla, Alaska, it seems to me, would be an excellent site.

Article here - pop.org

Catholics are Pro-Life

No, Catholics can't, shouldn't support pro-abortion politicians...
More Catholic Than the Pope
says Joseph Bottum, contributing editor, THE WEEKLY STANDARD, editor, First Things

Catholic specific website...

Headline Bistro is Knight of Columbus supported site specific for anything Catholic.

Pro-Life and Survival

To survive, one must live first.
For a political party to survive, it's members must support Life.
For a political issue to survive, the main issue must be Life, Pro-Life.
For human to survive, man and woman must be Pro-Life.

To live, one must be created first.
To be created, there must be a Creator.

For a society to survive, it's members must support Life.
For a family to continue, it's members must be Pro-Life.

You don't have to be a neuroscientist...

Wednesday, September 10, 2008

Prayer to End Abortion

Lord God, I thank you today for the gift of my life,
And for the lives of all my brothers and sisters.
I know there is nothing that destroys more life than abortion,
Yet I rejoice that you have conquered death
by the Resurrection of Your Son.
I am ready to do my part in ending abortion.
Today I commit myself
Never to be silent,
Never to be passive,
Never to be forgetful of the unborn.
I commit myself to be active in the pro-life movement,
And never to stop defending life
Until all my brothers and sisters are protected,
And our nation once again becomes
A nation with liberty and justice
Not just for some, but for all,
Through Christ our Lord. Amen!

from Priest For Life...

Hand, Foot & Mouth is not the same as Foot & Mouth Disease

Hand, Foot & Mouth is not the same as Foot & Mouth Disease, the dreaded Mad Cow disease!

Hand-foot-and-mouth disease is a common childhood illness.
Sores in the mouth, hands, feet and sometimes buttocks and legs. Mouth sores can be painful and may make it hard for your child to eat.
Disease is not serious, and it usually goes away in a week or so.
Most common in the summer and fall.
Hand-foot-and-mouth disease is not the same as other diseases that have similar names: foot-and-mouth disease (sometimes called hoof-and-mouth disease) or mad cow disease. These diseases almost always occur in animals.

From webmd.com

Monday, September 08, 2008

National Right to Life on Sarah Palin...

Karen Cross, National Right to Life Political Director. "Senator McCain has demonstrated his dedication to life in his selection of Sarah Palin as his running mate."
National Right to Life President Wanda Franz, Ph.D added, "Governor Palin brings another strong pro-life voice to the Republican ticket, in sharp contrast to the pro-abortion ticket of Barack Obama and Joe Biden."
"We've both been very vocal about being pro-life," Palin, a mother of five, said in an interview shortly after the birth of her youngest son Trig, who has Down Syndrome. "We understand that every innocent life has wonderful potential."
The differences between the McCain/Palin ticket and the Obama/Biden ticket are clear. While Senator McCain has a very strong record on the life issues, Barack Obama is the most pro-abortion candidate ever nominated by a major political party.
Senator Obama voted multiple times to deny care and protection to children born alive after abortion attempts. He is also co-sponser of an extreme bill, the so-called "Freedom of Choice Act," that would make partial-birth abortion legal again and require taxpayer funding of abortions. For further information, go to www.nrlc.org.
"The country now has a clear choice," added Darla St. Martin, Co-Executive Director of the National Right to Life Committee, "between an avowed pro-abortion ticket that would continue to push for unrestricted abortion on demand, and a strongly pro-life ticket that will bring us closer to a society that embraces the value and dignity of human life."

Sunday, September 07, 2008

Ay,pastilan!

Biggest bailout in U.S. history!!!
Fannie Mae and Freddie Mac taken over by US government.
via Market Watch.
Update from Bloomberg.com on Fannie and Freddie employees political contributions...
Democrat Barack Obama - $103,899
Republican John McCain - $15,650.
Congressional Black Caucus Foundation Inc. $100,000 last year.

Saturday, September 06, 2008

Adversarial feminist, feminazis according to Rush!

Sarah Palin, mother of five, soon to be grandmother of one, Republican candidate for Vice President of John McCain.
Why some feminist do not endorse her by Jeffrey Bell at Weekly Standard.
The premise of this narrative is that for women to achieve dignity and self-fulfillment in modern society, they must distance themselves, not necessarily from men or marriage or childbearing, but from the kind of marriage in which a mother's temptation to be with and enjoy several children becomes a synonym for holding women back and cheating them out of professional success.

Friday, September 05, 2008

Crony Capitalism, Alaskan style!

via Potomac Watch - WSJ by Kimberley Strassel
Every state has its share of crony capitalism, but Big Oil and the GOP political machine have taken that term to new heights in Alaska. The oil industry, which provides 85% of state revenues, has strived to own the government. Alaska's politicians—in particular ruling Republicans—roll in oil campaign money, lavish oil revenue on pet projects, then retire to lucrative oil jobs where they lobby for sweetheart oil deals. You can love the free market and not love this.

Every state and every nation like the Philippines need a Sarah Palin!

Why Palin? It's Leadership, my friends, it's Leadership!

Excellent psycho bubble analysis on McCain's choice of Palin as VP, from Caroline Glick at The Jerusalem Post
Both the challenges of war and the challenges of politics are challenges of leadership. And both military strategists and political strategists agree that the most basic leadership challenge in both arenas is to know and understand yourself - your strengths and your weaknesses - and to know your opponents and their strengths and weaknesses.

tip: Luccianne

Palinmania!

Last Sunday, I sense something was in the airwaves when someone at church called out to someone else 'Isn't that Sarah Palin something?'
It's Palinmania! even before 'the speech' on Wednesday night at St.Paul, Minnesota convention.
Usually most cradle catholics after Sunday mass could not wait to leave except those that help out in parish activities. Most don't even wait for the last note of the beautiful balcony choir of lay people. The parking lot is empty by the time the lights are turn off in between masses, to save on electricity and keep the church cool. Stained glass windows brighten the church until the next mass.
Politics and political news usually are not a common topic among catholics after church. Even lapse catholics like Pelosi and Biden are not discuss or the sex scandal.
After days of intense media coverage about Republican vice presidential candidate Sarah Palin's qualifications, more than 40 million Americans tuned in Wednesday to see for themselves what they thought of her.

Thursday, September 04, 2008

Sarah America!!!

St. Paul, Minnesota

Mr. Chairman, delegates, and fellow citizens: I am honored to be considered for the nomination for Vice President of the United States...
I accept the call to help our nominee for president to serve and defend America.
I accept the challenge of a tough fight in this election... against confident opponents ... at a crucial hour for our country.
And I accept the privilege of serving with a man who has come through much harder missions ... and met far graver challenges ... and knows how tough fights are won - the next president of the United States, John S. McCain...

for the whole speech...

Wednesday, September 03, 2008

Sarah Palin said...

"A ship in harbor is safe, but that's not why the ship is built."

Sarah Palin for VP, Republican all the time!

This blog will be Sarah Palin for VP, Republican, all the time until Nov 4, 2008!
my favorite historian, Professor Victor Davis Hanson, wrote today...
So apparently they are eager to see a rare politican who is unapologetic about America's past achievements (cf. Obama's "tragic history" and need for more "oppression studies"), and who reminds us with pride that a muscular world of action, not community organizing, creates the bounty that others use and take for granted but so often sneer at the methods of its acquisition.
Right now, there are millions rooting for her in a way not true of Biden—and many who are criticizing her don't have a clue why that it is so.

ht: The Corner on National Review...

my favorite politician said about Sarah Palin last night

Speaking of the vice presidential nominee, what a breath of fresh air Governor Sarah Palin is.
She is from a small town, with small town values, but that's not good enough for those folks who are attacking her and her family.
Some Washington pundits and media big shots are in a frenzy over the selection of a woman who has actually governed rather than just talked a good game on the Sunday talk shows and hit the Washington cocktail circuit. Well, give me a tough Alaskan Governor who has taken on the political establishment in the largest state in the Union -- and won -- over the beltway business-as-usual crowd any day of the week.
Let's be clear ... the selection of Governor Palin has the other side and their friends in the media in a state of panic. She is a courageous, successful, reformer, who is not afraid to take on the establishment.
Sound like anyone else we know?
She has run a municipality and she has run a state.
And I can say without fear of contradiction that she is the only nominee in the history of either party who knows how to properly field dress a moose ... with the possible exception of Teddy Roosevelt.
She and John McCain are not going to care how much the alligators get irritated when they get to Washington, they're going to drain that swamp.

ht: gopconvention2008.com

Monday, September 01, 2008

Been there!

Been there, Governor Palin!
As a Catholic I believe in abstinence too and instilled it to my children but teenagers like most teenagers do the opposite of what you say and do!
Seventeen years ago, my then 19 year old, college freshman daughter was pregnant with her
and we are all (including her paternal and step family) doubly blessed with her around us.

Sarah Palin for VP of the United States of America

I have not supported a candidate in the presidential election since this


but this newsreport did it.
Am proud to vote for Governor Sarah Palin (R-AK) as Senator McCain's VP on Nov 4, 2008!
She is 100% pro-life!