Forums / Political & Legal / "Credo Quid Absurdum"

6 years 2 weeks ago, 1:34 PM

Pkato

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"Credo Quid Absurdum"

"Credo Quid Absurdum" (Definition) "I beleive it because it is absurd"

Jack Wheeler is a brilliant man who was the author of Reagan's strategy
to break the back of the Soviet Union with the star wars race and expose
their inner weakness. For years he wrote a weekly intelligence update that was extremely interesting and well structured and informed. He consults(ed) with several mega-corporations on global trends and the future, etc. I think he is in semi-retirement now. He is a true patriot with a no-nonsense approach to everything. He is also a somewhat well known mountain climber and adventurer.

The following was written by Dr. Jack Wheeler:

The O-man, Barack Hussein Obama, is an eloquently tailored empty suit.
No resume, no accomplishments, no experience, no original ideas, no
understanding of how the economy works, no understanding of how the
world works, no balls, nothing but abstract empty rhetoric devoid of real
substance. He has no real identity. He is half-white, which he rejects. The rest of him is mostly Arab, which he hides but is disclosed by his non-African Arabic surname and his Arabic first and middle names as a way to triply proclaim his Arabic parentage to people in Kenya . Only a small part of him is African black from his Luo grandmother, which he pretends he is exclusively.

What he isn't, not a genetic drop of, is 'African-American,' the
descendant of enslaved Africans brought to America chained in slave ships .. He hasn't a single ancestor who was a slave. Instead, his Arab ancestors were slave owners. Slave-trading was the main Arab business in East Africa for centuries until the British ended it.

Let that sink in: Obama is not the descendant of slaves, he is the
descendant of slave owners. Thus he makes the perfect Liberal Messiah.

It's something Hillary doesn't understand - how some complete neophyte
came out of the blue and stole the Dem nomination from her. Obama-mania is beyond politics and reason. It is a true religious cult, whose adherents reject Christianity yet still believe in Original Sin, transferring it from the evil of being human to the evil of being white.

Thus Obama has become the white liberals' Christ, offering absolution
from the Sin of Being White. There is no reason or logic behind it, no faults or flaws of his can diminish it, no arguments Hillary could make of any kind can be effective against it.

The absurdity of Hypocrisy Clothed In Human Flesh being their Savior is
all the more cause for liberals to worsh ip him: Credo quid absurdum, I
believe it because it is absurd.

Thank heavens that the voting majority of Americans remain Christian and
are in no desperate need of a phony savior.

His candidacy is ridiculous and should not be taken seriously by any
thinking American.

Pass this on to every thinking American you know!

Not my words...I just posted it.

Patrolman Kato
Firearms stand next in importance to the Constitution itself.
They are the American people's liberty teeth and keystone
under independence. -- George Washington
6 years 2 weeks ago, 2:46 PM

skeeter51

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"Credo Quid Absurdum"

Pkato wrote:
"Credo Quid Absurdum" (Definition) "I beleive it because it is absurd"

The following was written by Dr. Jack Wheeler:

The O-man, Barack Hussein Obama, is an eloquently tailored empty suit.
No resume, no accomplishments, no experience, no original ideas, no
understanding of how the economy works, no understanding of how the
world works, no balls, nothing but abstract empty rhetoric devoid of real
substance. He has no real identity. He is half-white, which he rejects. The rest of him is mostly Arab, which he hides but is disclosed by his non-African Arabic surname and his Arabic first and middle names as a way to triply proclaim his Arabic parentage to people in Kenya . Only a small part of him is African black from his Luo grandmother, which he pretends he is exclusively.

That's why they want him as President. The government wants someone who knows nothing. It's a great way to control what goes on. They think if they can control the mindless Obama that they can also in return control the turning to mindless population.

"Banking establishments are more dangerous than standing armies." Thomas Jefferson---------------------------------------------------------- Happiness is a beer in one hand and a gun in the other!
6 years 2 weeks ago, 3:07 PM

ssdd71

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The ignorant are easy to control.

6 years 2 weeks ago, 10:42 AM

Pkato

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Obama is not

an idiot...on the contrary, he is very smart. That's the scary part...he's smart, but has taken in the far left ideals and will force those ideals on all of us. The scariest part is that at least for the next two years, if elected, we will have a Democrat President and Democratic Congress. In addition, there will probably be one or two judges appointed...it could be a bad situation!

Patrolman Kato
In general, the art of government consists of taking as much money as possible from one party of the citizens to give to the other. -Voltaire (1764)

Patrolman Kato
Firearms stand next in importance to the Constitution itself.
They are the American people's liberty teeth and keystone
under independence. -- George Washington
6 years 2 weeks ago, 10:53 AM

Anonymous

Obamunnism

is the new form of government we will have if this unqualified socialistic "former" muslim is perched on the highest pedistal by a bunch of sheeple that think he can change everything,he couldnt change chicago even with acorn backing him what makes people think he can change this nation? Kwami Kilpatrick the mayor of chicago that has been brought up on charges has offered up some names of dirty people in chicago,too bad we wont hear the names till after the election but i would bet obama's name is on there "It's a hell of a thing...killing a man.You take away all he's got,and all he's ever gonna have."

6 years 2 weeks ago, 10:56 AM

Ebear

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kilpatrick is the mayor of detroit is'nt he?.besides it's gonna take 10 years to fix what bush f'd up

...check... G-AZ
6 years 2 weeks ago, 11:06 AM

sytasyn_syn

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That worthless Piece of shit Kilpatrick WAS the mayor. We finally booted his scandalous ass. Thankfully.

Be Kind and Courteous to All That You Meet, But Always Have A Plan to Kill Them -U.S. Marine Corp General-
6 years 2 weeks ago, 11:01 AM

Anonymous

everything screw it let it crash,quit robbing from here to pay there enough is enough!just like this bandaid bill that just passed.the stock market is still nervous as hell with continued losses everyday "It's a hell of a thing...killing a man.You take away all he's got,and all he's ever gonna have."

6 years 2 weeks ago, 11:39 AM

Pkato

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I find it funny that

the original problem was caused when government didn't do their job... yet the solution is to put the very people who caused the problem in charge of the entire cleanup? How does that make sense?

Patrolman Kato
In general, the art of government consists of taking as much money as possible from one party of the citizens to give to the other. -Voltaire (1764)

Patrolman Kato
Firearms stand next in importance to the Constitution itself.
They are the American people's liberty teeth and keystone
under independence. -- George Washington
6 years 2 weeks ago, 11:59 AM

Pkato

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That whole mess was caused way back Johnson-Nixon-Carter-Reagan-Bush Sr-Clinton...they pushed the whole idea of home ownership and pushed FREDDIE and FANNIE to give bad loans. While I don't think Bush is clean on all of it, the root cause goes way back. At least Bush did sound the alarm and say that there was a problem with they way those institutions were giving out loans.

While I am not blaming one person for this...from what I have been reading, the warnings were given about these two entities and many times by Bush...always ignored. For God's sake, Barney Franks was getting banged by one of their executives...how was the media not all over that situation???

The US government came up with these two (Fannie Mae/Freddie Mac)...Freddie was actually created by the Govt to be compettition for Fannie Mae...Shit! This is exactly what happens when government gets involved with private sector business!!!

http://network.nationalpost.com/np/blogs/fullcomment/archive/2008/07/11/...

http://gatewaypundit.blogspot.com/2008/09/bush-called-for-reform-of-fann...

_________________________________

What Are the Origins of Freddie Mac and Fannie Mae?
By Rob Alford
Mr. Alford is a student at the University of Washington and an HNN intern.

Editor's Note: This article was published in 2003.

In recent months, the nation's two largest mortgage finance lenders have come under increasing scrutiny at the hands of Congress, the Justice Department and the Securities and Exchange Commission (SEC). The Federal National Mortgage Association, nicknamed Fannie Mae, and the Federal Home Mortgage Corporation, nicknamed Freddie Mac, have operated since 1968 as government sponsored enterprises (GSEs). This means that, although the two companies are privately owned and operated by shareholders, they are protected financially by the support of the Federal Government. These government protections include access to a line of credit through the U.S. Treasury, exemption from state and local income taxes and exemption from SEC oversight. A recent accounting scandal at Freddie Mac that resulted in the replacement of three of the company's top executives has led to mounting concerns over the privileged status these GSEs enjoy in the marketplace.

Fannie Mae was created in 1938 as part of Franklin Delano Roosevelt's New Deal. The collapse of the national housing market in the wake of the Great Depression discouraged private lenders from investing in home loans. Fannie Mae was established in order to provide local banks with federal money to finance home mortgages in an attempt to raise levels of home ownership and the availability of affordable housing.

Initially, Fannie Mae operated like a national savings and loan, allowing local banks to charge low interest rates on mortgages for the benefit of the home buyer. This lead to the development of what is now known as the secondary mortgage market. Within the secondary mortgage market, companies such as Fannie Mae are able to borrow money from foreign investors at low interest rates because of the financial support that they receive from the U.S. Government. It is this ability to borrow at low rates that allows Fannie Mae to provide fixed interest rate mortgages with low down payments to home buyers. Fannie Mae makes a profit from the difference between the interest rates homeowners pay and foreign lenders charge.

For the first thirty years following its inception, Fannie Mae held a veritable monopoly over the secondary mortgage market. In 1968, due to fiscal pressures created by the Vietnam War, Lyndon B. Johnson privatized Fannie Mae in order to remove it from the national budget. At this point, Fannie Mae began operating as a GSE, generating profits for stock holders while enjoying the benefits of exemption from taxation and oversight as well as implied government backing. In order to prevent any further monopolization of the market, a second GSE known as Freddie Mac was created in 1970. Currently, Fannie Mae and Freddie Mac control about 90 percent of the nation's secondary mortgage market.

GSEs such as Fannie Mae and Freddie Mae, with their combination of private enterprise and public backing have experienced a period of unprecedented financial growth over the past few decades. The current assets of these two companies combine for a total that is 45 percent greater than that of the nation's largest bank.

On the other hand, their combined debt is equal to 46 percent of the current national debt. It is this combination of rapid growth and over leveraging that has lead to the current concerns of Congress, the Justice Department and the SEC with regards to the financial practices of these GSEs.

Fannie Mae and Freddie Mac are the only two Fortune 500 companies that are not required to inform the public about any financial difficulties that they may be having. In the event that there was some sort of financial collapse within either of these companies, U.S. taxpayers could be held responsible for hundreds of billions of dollars in outstanding debts. A recent investigation by the Justice Department and the SEC into the accounting practices at Freddie Mac revealed accounting errors in the amount of 4.5 to 4.7 billion dollars and resulted in the termination of three of the company's top executives. Ongoing investigations by Congress, particular the House Finance Services subcommittee that oversees the activity of GSEs, will determine the future role of Fannie Mae and Freddie Mac and the secondary mortgage market that they dominate.

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

Patrolman Kato
In general, the art of government consists of taking as much money as possible from one party of the citizens to give to the other. -Voltaire (1764)

Patrolman Kato
Firearms stand next in importance to the Constitution itself.
They are the American people's liberty teeth and keystone
under independence. -- George Washington
6 years 2 weeks ago, 12:12 PM

Reaper308

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where they are now

just recieved this in an email.... didn't check the facts, or credability. just forwarding it to you guys for your own discretion:

Here is a quick look into 3 former Fannie Mae executives who have brought down Wall Street.

Franklin Raines was a Chairman and Chief Executive Officer at Fannie Mae. Raines was forced to retire from his position with Fannie Mae when auditing discovered severe irregulaties in Fannie Mae's accounting activities. At the time of his departure The Wall Street Journal noted, " Raines, who long defended the company's accounting despite mounting evidence that it wasn't proper, issued a statement late Tuesday conceding that "mistakes were made" and saying he would assume responsi bility as he had earlier promised. News reports indicate the company was under growing pressure from regulators to shake up its management in the wake of find ings that the company's books ran afoul of generally accepted accounting principles for four years." Fannie Mae had to reduce its surplus by $9 billion.

Raines left with a "golden parachute valued at $240 Million in benefits. The Government filed suit against Raines when the depth of the accounting scandal became clear. http://housingdoom.com/2006/12/18/fannie-charges/ . The Government noted, "The 101 charges reveal how the individuals improperly manipulated earnings to maximize their bonuses, while knowingly neglecting accounting systems and internal controls, misapplying over twenty accounting principles and misleading the regulator and the public. The Notice explains how they submitted six years of misleading and inaccurate accounting statements and inaccurate capital reports th at enabled them to grow Fannie Mae in an unsafe and unsound manner." These charges were made in 2006. The Court ordered Raines to return $50 Million Dollars he received in bonuses based on the miss-stated Fannie Mae profits.

Tim Howard - Was the Chief Financial Officer of Fannie Mae. Howard "was a strong internal proponent of using accounting strategies that would ensure a "stable pattern of earnings" at Fannie. In everyday English - he was cooking the books. The Government Investigation determined that, "Chief Financial Officer, Tim Howard, failed to provide adequate oversight to key control and reporting functions within Fannie Mae,"

On June 16, 2006, Rep. Richard Baker, R-La., asked the Justice Department to investigate his allegations that two former Fannie Mae executives lied to Congress in October 2004 when they denied manipulating the mortgage-finance giant's income statement to achieve management pay bonuses. Investigations by federal regulators and the company's board of directors since concluded that management did manipulate 1998 earnings to trigger bonuses. Raines and Howard resigned under pressure in late 2004.

Howard's Golden Parachute was estimated at $20 Million!

Jim Johnson - A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. A look at the Office of Federal Housing Enterprise Oversight's May 2006 re port on mismanagement and corruption inside Fannie Mae, and you'll see some interesting things about Johnson. Investigators found that Fannie Mae had hidden a substantial amount of Johnson's 1998 compensation from the public, reporting that it was between $6 million and $7 million when it fact it was $21 million." Johnson is currently under investigation for taking illegal loans from Countrywide while serving as CEO of Fannie Mae.

Johnson's Golden Parachute was estimated at $28 Million.

WHERE ARE THEY NOW?

FRANKLIN RAINES? Raines works for the Obama Campaign as Chief Economic Advisor

TIM HOWARD? Howard is also a Chief Economic Advisor to Obama

JIM JOHNSON? Johnson hired as a Senior Obama Finance Advisor and was selected to run Obama's Vice Presidential Search Committee

"Proelium Comminus Auctoritate" "Sometimes the light at the end of the tunnel is a muzzle flash."
6 years 2 weeks ago, 12:05 PM

Pkato

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Kilpatrick is not

finished...watch, mark my words, he will be back and idiots somewhere will give him another chance. Just look at Marion Barry, from Washington DC, he was caught buying crack (on camera) from undercover federal agents. Yet, the folks in Washington DC, voted him back in office later on...that is totally unbelievable!

Patrolman Kato
In general, the art of government consists of taking as much money as possible from one party of the citizens to give to the other. -Voltaire (1764)

Patrolman Kato
Firearms stand next in importance to the Constitution itself.
They are the American people's liberty teeth and keystone
under independence. -- George Washington

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