WITH THE PRESIDENTIAL ELECTION ONLY A COUPLE OF WEEKS AWAY, I HAVE NOT HEARD EITHER OF THE TWO PRINCIPAL PRESIDENTIAL CANDIDATES MENTION THE PLIGHT OF THE 85 MILLION ELDERLY OF AMERICA.

      BEFORE THE ADVENT OF THE SOCIAL SECURITY SYSTEM IN 1934, BY PRESIDENT ROOSEVELT, MOST ELDERLY DEPENDED ON THEIR FAMILIES FOR BOTH FINANCIAL AND EMOTIONAL SUPPORT IN THEIR WANING YEARS.    IN CHINA, IT IS ALMOST LIKE A RELIGION, BY CHILDREN TO HONOR AND CARE FOR THEIR PARENTS AND ANCESTORS.   IN EUROPE, IT WAS EXPECTED THAT CHILDREN WOULD TAKE IN AND CARE FOR THEIR PARENTS IN THEIR LATE YEARS, AND TO THEIR CREDIT DID SO IN A LOVING AND CARING WAY, ALSO.

       ALL THIS HAS CHANGED THROUGHOUT THE WORLD BECAUSE OF THE RETIREMENT SYSTEMS ESTABLISHED IN EACH COUNTRY, DURING THE 20^TH CENTURY.

      NOW, MOST RETIREES LIVE INDEPENDENTLY, AS MUCH AS POSSIBLE, TO ENJOY THEIR LATE YEARS, LIVING ON THEIR FIXED MONTHLY SOCIAL SECURITY PAYMENTS BASED ON CONTRIBUTIONS MADE DURING THEIR ABOUT FIFTY YEARS OF EMPLOYMENT.     THESE SUMS ARE NOT AND WERE NOT INTENDED TO BE SUFFICIENT TO SUPPORT AND MAINTAIN MOST RETIREES, ESPECIALLY IN TODAY’S ECONOMY.    MANY HAVE SOME SEPARATE SOURCE OF INCOME, USUALLY CONSERVATIVE AND FDIC GUARANTEED SAVINGS IN BANKS, THEY HAVE SQUIRRELED AWAY DURING THEIR MANY YEARS OF SCRIMPING BY LIVING MODESTLY AND SOMETIME FRUGALLY.

     WITH RISING COSTS AND LOWER INTEREST RATES FOR MANY YEARS, MOST RETIREES HAVE BEEN FORCED TO DIP INTO THESE SAVINGS JUST TO SURVIVE AND, AS A RESULT, MANY HAVE EXHAUSTED THEIR SAVINGS.   OVER THE LAST EIGHT YEARS OF THE GOVERNMENT’S CONCERTED EFFORT TO KEEP INTEREST RATES DOWN AND TO PROVIDE CHEAP MONEY AVAILABLE TO BORROWERS.    THIS PLAN HAS CONSISTENTLY HURT MOST CONSERVATIVE RETIREES AND DEPOSITORS OF SAVINGS IN BANKS.     IT IS NO SMALL WONDER THAT MOST YOUNG WORKING PEOPLE HAVE TURNED TO THE VOLATILE STOCK MARKET IN A GAMBLE WITH THEIR SAVINGS TO OBTAIN A BETTER RETURN FROM THEIR MONEY RATHER TO LANGUISH THEIR FUNDS IN BANKS PAYING NOT MUCH MORE THAN THE INFLATION RATE.   THESE YOUNG PEOPLE WERE NOT ALIVE AT THE TIME OF THE GREAT DEPRESSION OF THE 1930’S WHEN BANKS CLOSED AND THE STOCK MARKET CRASHED, TAKING EVERYONE’S SAVINGS AND INVESTMENTS.    NOW, YOUNG AND OLD, ALIKE ARE IN TROUBLE, WHILE OUR PRESIDENT RUSHES IN TO SAVE THE VERY BANKS AND LENDING INSTITUTIONS THAT HAVE CAUSED THE PROBLEM WITH SUB-PRIME LOANS, NOW DEFAULTING.    STILL, NO ONE IS PROPOSING LEGISLATION TO PREVENT THIS FROM HAPPENING AGAIN.

      THOSE FEW RETIREES WHO OWN THEIR HOMES HAVE TURNED TO HIGH INTEREST RATE REVERSE MORTGAGES TO SURVIVE WHILE THOSE WITH MORTGAGES ARE DEFAULTING BECAUSE OF RAISING OTHER COSTS, WHILE THEIR INCOME IS DECREASING.    RENT PAYERS ARE FACED WITH THE SAME PROBLEM OF FIXED INCOMES WHILE COSTS ARE RISING AT ALL LEVELS OF THE ECONOMY.    IT SEEMS THEIR CHOICE IS BETWEEN EATING, PAYING FOR HIGH MEDICAL COSTS OR PAYING THE RENT OR MORTGAGE.

      MANY RETIREES, STRAPPED FOR MONEY HAVE TRIED TO ARRANGE TO MOVE IN WITH THEIR CHILDREN ONLY TO BE TOLD, “I AM ALREADY PAYING FOR YOUR SOCIAL SECURITY PAYMENTS,” OR, “I AM HAVING THE SAME DIFFICULTY MEETING MY OBLIGATIONS” ONE RETIREE, REPLIED, “WELL, WHOSE SOCIAL SECURITY PAYMENTS DID I PAY FOR?     THE IRONY IS, BOTH STATEMENTS ARE TRUE. 

      IT IS GENERALLY TRUE THAT MOST AMERICANS ARE LIVING IN A DEBT-RIDDEN SOCIETY, WITH MAXED OUT CREDIT CARDS AND CREDITORS LINED UP AT THE FRONT DOOR DEMANDING PAYMENT.    SOME ARE THANKFUL TO GOD FOR LOSING THEIR TELEPHONE SERVICE DUE TO THE LONG OVERDUE TELEPHONE BILL.   ALL IN ALL, THIS PROVED TO BE A BLESSING IN DISGUISE, SINCE CREDITORS CANNOT CONTINUE TO HARASS THEM EVERY DAY WITH DUNNING PHONE CALLS.   

      I HEARD ONE FAMILY WAS SO HELPLESSLY IN DEBT, THAT THEY WERE WAITING FOR ANOTHER CREDIT CARD IN THE MAIL SO THEY COULD MAX IT OUT ALSO TO PAY THEIR LAWYER TO FILE FOR BANKRUPTCY.

      MANY MARRIED CHILDREN HAVE ALREADY LOST THEIR HOMES, DUE TO THE FACT THEY HAVE BEEN LIVING A LIFESTYLE THEY INSIST THEY ARE ENTITLED TO.    FIRST THEY BORROW, FROM PETER TO PAY PAUL WHOM THEY PROMISED TO PAY IN A MONTH FOR THE FIRST LOAN.   THEN, THEY MUST BORROW FROM THEIR SYMPATHETIC PARENTS TO PAY PETER AND PAUL WHOSE LOANS ARE IN DEFAULT BECAUSE THEY HAD TO GO ON VACATION AS A RESPITE FROM THEIR WORRIES ABOUT DEBTS AND THE INCESSANT DEMANDS FROM CREDITORS.    NOW, THEY HAVE TAPPED OUT THEIR PARENTS WHO ARE IN NEED OF MONEY THEY LOANED TO THEIR CHILDREN IN ORDER TO FIX THEIR BROKEN DOWN TEN-YEAR-OLD CAR WITH BALD TIRES AND AN EMPTY GAS TANK.  

     FINALLY, WHEN THEY EXHAUSTED ALL OTHER SOURCES OF LOANS AND CREDIT, AND GEORGE LOST HIS JOB, THEY ARE FORCED TO MOVE INTO THEIR PARENT’S THREE BEDROOM HOME WITH CHARLEY AND JILL THE UNMARRIED BACHELOR AND OLD MAID, WHO CLAIM THEY MAKE ONLY ENOUGH TO TAKE CARE OF THEIR OWN BILLS AND OF COURSE CANNOT CONTRIBUTE TO THEIR PARENTS WHO ARE TOO PROUD TO ASK FOR HELP FROM “THEIR CHILDREN.”    THE PARENTS GLADLY GAVE UP THEIR BEDROOM AND BATH TO GEORGE AND HIS WIFE, MARTHA AND TWO KIDS, JEFF AND JANE, WHO EACH WERE OBLIGED TO SLEEP IN UNCLE CHARLEY AND AUNT JILL’S ROOMS.  THE PARENTS SAY THEY ARE OKAY SLEEPING IN THE LIVING ROOM CASTRO CONVERTIBLE BECAUSE AS MOTHER SAYS SHE IS THE FIRST ONE UP TO PREPARE BREAKFAST.  THIS WHOLE ARRANGEMENT WAS SUPPOSED TO BE TEMPORARY BUT AFTER TWO YEARS, THEY WERE PRESSING THEIR PARENTS TO GET AN EQUITY LOAN TO REMODEL THE HOME BY ADDING A SECOND FLOOR, THREE-ROOM APARTMENT FOR THE PARENTS TO MOVE INTO.    OTHERWISE, GEORGE AND MARTHA CLAIM, HIS SHIFTLESS BROTHER, CHARLEY AND LAZY SISTER, JILL, SHOULD MOVE OUT AND STOP MOOCHING OFF THEIR PARENTS.    CHARLEY AND JILL RESPOND WITH,  “WE WERE HERE FIRST AND EVERYTHING WAS FINE UNTIL YOU AND YOUR TRIBE MOVED IN AND KICKED OUR PARENTS OUT OF THEIR BEDROOM.    OF COURSE, ALTHOUGH GEORGE AND MARTHA PROMISED TO CONTRIBUTE TO THE EXPENSES OF RUNNING THE HOME THEY REFUSED, UNLESS CHARLEY AND JILL ALSO CONTRIBUTED.    THAT CERTAINLY SEEMED FAIR, TO THEM.     THE PROUD AND LOVING PARENTS, OVERHEARING THE CONSTANT ARGUING AND BICKERING BETWEEN THE SIBLINGS, FINALLY ANNOUNCED THEY WOULD NOT ACCEPT MONEY FROM ANY OF THEIR CHILDREN, AND MIRACULOUSLY, THE BICKERING STOPPED.   NOW, GEORGE AND MARTHA COULD HAVE THEIR NIGHT OUT EACH FRIDAY, WHILE THEIR PARENTS BABYSAT JEFF AND JANE, WHO ALWAYS INSIST IN WATCHING THE SILLY CHILDREN’S CHANNEL WHILE THE GRANDPARENTS RELENTED AND DOZED OFF FOR A FEW HOURS IN THE OVERSTUFFED CHAIRS WITH THE WHITE COTTON STUFFING BULGING OUT OF THE WORN OUT FABRIC COVERING.  

       AT ONE POINT, WHEN GEORGE’S UNEMPLOYMENT BENEFITS RAN OUT DAD INFORMED HIM HE WAS ELIGIBLE FOR WELFARE BENEFITS.    GEORGE WAS INDIGNANT AND SHARPLY REBUFFED HIS DAD WITH.   “ARE YOU CRAZY! I WOULD NOT LOWER MYSELF AND ASK FOR CHARITY FROM ANYONE!”    DAD HELD HIS TONGUE BUT THOUGHT, “ WHAT IN HELL, DOES HE THINK HE HAS BEEN RECEIVING HERE FOR THE LAST TWO YEARS.”       

Andy Looney’s “Dear John letter” to John McCain

Senator John McCain

Senate Office Building

Washington, D.C.  00123

Dear John,

      It grieves me to write this letter because I look upon you as a real American hero who has spent his whole life, dedicated to the service of his country and one who I will still proudly vote for on November 4^th in spite of the fact that you will lose the election.

     Unfortunately, because of the sad state of our economy, you and the republican administration must take the blame for this situation, because it has happened on the republican watch, and as Harry Truman said, “the buck stops here!”

      We know you have been proud to call yourself a “maverick.”   You have proven over the years, your independent zeal and positive attitude toward the reform of our government, in a bi-partisan manner.    I believe you added to this reputation and reform oriented attitude, by selecting governor, Sarah Palin, as your vice president running mate and who shares with you the reform record and ideas, which are also vitally needed in this government.

      Of course, you must remember the presidential election of 1992, between incumbent George H. W. Bush and that neophyte governor, William Jefferson Clinton, from the small state of Arkansas.    Ironically, the public’s focus was on the sagging economy then, also, while Bush vehemently denied there was a problem.    The public’s cries of, “it’s the economy, stupid!”  Went unheeded and, as a result, Clinton was swept into office for the next eight years.

      This election is a repeat of the 1992 election, only worse.   The economy is so bad and worsening by the day that the public is in a panic stage and wants answers now.    They are hearing a lot of promises and rhetoric but no action from two senators who could have filed legislation to help the economy all year, but did not.    People are fed up with the constant bickering between the political parties in congress and with the current president.    They are and have been for two years now fed up with the war in Iraq, and the cost in lives and money, which could have been better spent here in America.   There is no question but that we insist we must win this war, but we want it ended in a victory now!     This reflects badly in the members of congress, especially those who are seen as entranced in the political system for the longest time.    Political parties have had a strangle hold on our government and political process for far too long, while the voter feels stymied, by the lack of progress and solutions.     Political parties should not control our government; only the American voter should, through their elected representatives.                    

        It is also clear that our elected representatives have fallen prey to the monetary influence of lobbyists, and our representatives are beholden to lobbyists instead of the electorate that voted them into office.     At this point, the public is ready not to re-elect any members of congress as a reward for their repeated misdeeds in office.

     Obama has emerged as the favored candidate this year probably because he is new to the scene and the least tainted of the old do nothing congress and their totally unfavorable ratings and reputations.     His theme of “change” and “can do,” has resonated with the average disenchanted voter, especially the young who are most exposed and vulnerable in the future because of all the uncertainty it brings to them.

      Negative advertising, at this stage, is too late since most voters have already decided on the candidate of their choice.   Those few who are yet undecided, want to hear about solutions and which candidate, can best answer their needs and desires.   It should be noted these voters are the most skeptical and most difficult to sway and a very large carrot must be offered.

      I need not remind you, that the falling economy has reflected negatively on your popularity in the polls and as a result your task and burden to win votes has increased two fold.    The former republican theory, that if you provide help for the businessperson employer, it will trickle down to the worker, has been rebuffed since the days of Herbert Hoover.

      You had the golden opportunity to save your campaign when the Bush administration hastily claimed a bailout of the banks and lending institutions was urgently needed to be passed by congress to avoid their shutdown and collapse with a 750 billion dollar bailout plan on two sheets of paper.     I admired you for shutting down your campaign to rush to Washington, DC to help this admitted crises.    But, if you had spoken out against the plan and the president at that time, as most americans, were also against it, you would have turned the tide of the election in your favor especially since Obama and most congressmen were selfishly in favor to save their re-election chances.

      Your last debate was the final nail in your campaign coffin, when you said you were in favor of free trade.   When unemployment is higher every day and the trade deficit of 700 billion dollars with china is killing us because all the jobs and American companies have outsourced there.    When you add the 700 billion dollar deficit because of our purchases of oil from the near east and Venezuela, all of which countries hate us, and add the 450 billion dollar yearly deficit in our budget, the American people have a right to complain as the value of their dollar and purchasing power dwindles.    Your plan to have the government buy up defaulting mortgages at face value, even if the reason is to work out an arrangement with the homeowner is an insult to our intelligence.    The first bailout is for the bank or mortgage holder when he is already being bailed out by president bush at the cost of the American people.    When Obama claimed you were giving companies like, Exxon Mobil, and others tax breaks and you did not respond to deny this claim, you lost all hope of winning the debate and the election on November 4^th.   

     You have had more than a year to reject the doings of the Bush administration and start acting, as an American, but you have chosen to act like a republican instead.  In spite of your claim to be a “maverick.”    What this country needs at this crucial time is neither a democrat nor a republican but an American who is for, America first, and not his party.    Unfortunately, the American public is not happy choosing between the lesser of two candidates, but that’s the choice we are left with this year.    Do you wonder why we are angry and frightened about our future?

     We realize how much effort and time you have devoted to this campaign and all the sacrifices you have made throughout your life on behalf of the American people.    We are sad and unhappy it has to end this way in a failure of your candidacy, because we know we all will be losers in the end.

    However, please feel some solace in the fact that America will always love you as their hero and thank you for all you have done and tried to do for us.    We will be eternally grateful to you and your family and your famous family name.

Respectfully yours,

Andy Looney

THE FOLLOWING IS A POSTHUMOUS AUTOBIOGRAPHY BY CHRISTOPHER COLUMBUS.   IN REPLY TO ALL THE CRITICISM CAST UPON HIM AS DISCOVERER OF THE AMERICAS.

          MIA NAMA ISA CRISTOFOLO COLUMBO NOTA CHRISTOPHER COLUMBUS.  U AMERICANI CANNO SPELLA MIA NAMA, BECUZA U NO LIKA ITALIANI TO FINA U CUNTRI.  NOWA, MABI U WANTA CHANGA DA NAMA AMERICA BUCUZ AMERICO VESPUCCI, AN UDDA ITALIANO FIGGA U HISA NAME?  WATSA MATTA FO U?   HEA ANNA ME WERA LOOKINA FOR CHINA, BUT WE BUMPA INTO AMERICABY MISTAKE.  SO U NO, AMERICA HESA REELA MISTAKA ANDA ITA NEVA GO AWAY, ITA ALWAYS WILLA BE A MISTAKE ONA DA MAPA.

          IA WAS BORNA INA GENOA SALAMI, ITALIA, INA 1462.   TO MI PAPA WIDA MI MAMA, HOO INVENTA DA SALAMI.   ITSA MADA WIDA PESA POROKO ANDA SALT WIDDA GUSTA OUTSIDEA LIKA SILKA STOCKINA.   U PUSHA HERA AND PUSHA DERE ANA DA PORKO GO EVERYWHEAR INA PUSHA HERA AND PUSHA DERE ANA DA PORKO GO EVERYWEAR INA DA CASSA, ANA MAKA BIGGS SALAMI EVRYBOBI LIKA ALLLA TIMA.

          MIA PAPA HEAR SO PORA, HE NO GOA TO DA SCULO BECAUSA HEA HUNGRI ALLA TIMA ANA SOONA HEA B ECUMA STUPIDO TOO.  FROMA NO SKOOLA INA HIS HEADA.   HEA GOA TO DA SCULO BECAUSA HEA HUNGRI ALLA TIMA ANA SOONA HEA B ECUMA STUPIDO TOO.   FROMA NO SKOOLA INA HIS HEADA.   HEA TO TO DA WORKA ONA FARM TOA FREEDA DA PORKO PIGS SO HEA CAN EETS TOO, LIKE A PIGS.   HEA GROW BIGGA ANDA STRONGO.   WENA THE BUTCHA CUTA UPPI DA PIGS, MI PAPA SEE SOMA SMALL PEECES OV DA MEET ANA PORKA FATA ONA DA TABL.   SO WENA HE CLEENA UPPI DA MESSA HE PUTA DA SCRAPPS INA DA GUTS WID A LIDDL BITA OVA SALTA ANA HEE DRI INA DA SUN.   DISA WEY HE MAKA A BIGGA BUSINESSI FO HIMSELF WIDDA BIGA SALAMI, HEA CALLA ITA “GEONA SALAMI”, FO HISA HOMA TOWNA.   WEN MI MAMA SEE HIMA, WONA DAE, WIDA DA BIGA SALAMI INA HISA HANDSA SHEA FALL DOWNA WID LOVA FOR DAT SALAMI ANA PAPA!

          DEN, DAE GOA TO DA CHURCHA FOR A TO GETA MARRY, BUTA DAE NO HAVEA HONEYMOONI, SOA DAE GOA TO BEDA RIGHTA WAE ANDA SOONA I BE BORND, NO ONA OCTOBA 13 BUTA ONA APRILA 4, 1462.  DIS WASA GOODA YERE TO MAKA DA WINA TOO.

          MI MAMA, SHEA NO CANA GOA TO DA SKOOLA BECAUZA SHEA ISA SHEA, Y NO.   DEY NO ALLOWSA DA GIRLSA, ONI DA BOYA TOA GO.  DA MENA OFFA DA TOWNA WANTA DA GIRLSA TO STAE DUMBA, SOA DAE CANA, U NO, CONTROLLA DEM ANDA DA MARRY WOMENS STAE BAREFOOTS AND PREGNANTI, ALA TIMA INA DA HOUSA.   BUTA MI MAMA, SHEA NO DUMMA BECUZ SHEA COMA FROMA ROMA, WEAR DEY ALLA SMATA LIKE JULIOUS CEASAR, WHOA BILDA ROMA IN A DAE.

          SO WANA DAE MI PAPA SAE, “ROSA, IA TINK DA WERLD ISA FLAT, LIKA ITSA LOOKA, ‘MI MAMA SHEA SAE, “ NO PAPA DA WERLD ISA ROUNDA, LIKA U HEADSA”.   HE SAE “NO, MAMA, DA PAPA DA WERLD ISA FLAT, ANA HE NO LIE.   MAMA SAE TO PAPA, “IFFA DA WORLDA ISA FLAT HOWA CUM DA SUN SHE DISAPEER INA DA NITE AND CUMA BAKA INA DA MORNINK?   WERE DA SUNA DIDA ALA DA NITE, IFA DA WERLD ISA FLAT?   MI PAPA, HE SAE, “IMA DA BOSS HEER SO IA SAE DA WURLD ISA FLAT.”   MY MAMA SAE, “THAT’S NO RIGHTA BECUZA WERE DA SUN GO?”   NOWA IA TINK DA WERLD IS ROWND ANA ITA GO BEHINDA DA WERLD AT A NITE.

          WEN I GRO UPPI MY MAMA ANA PAPA STILL FIGHTA ABOWTA WURLD ISA FLAT ORA ROWND.   SO IA TRI TO HELPI MI MAMA AND FIGHTA WID ALA D PEEPLES INA DA TOWN ABOUTS DA WERLD ISA FLTA ORA ROUNDS.  I WENTA TO WURK ATA DA SHORE ONA DA BOATA TI FISHA ANA I SEE MISEF DA SUN GO DOWNA DA SEA ATA NITI INA DA WEST ANA COMA BAKA INA DA MORNING FROMA DA EASTA.   I CANO STOPA TELLA ALA DA PEEPLES ANA SHOW DEM DA SUN GO DOWN OVA HEER ANDA COME UPPY OVA DERE.

          NOW A SOMA PEEPLE SAY, TOO, CHRISTOFOLO, U RIGHTA ANA ITSA ROUND NO FLAT LIKA DA PREEST, HE SAE.   WEN DA PREEST, HE HERE DIS, HE ISA REEL MADA ANA HE SENDA ME OUTA OWN BECUZ IMA “CRAZY.”   SO I GOA TO FLORENCE, WERE DA PEEPLE ARA SMART A LIKE MAMA ANNA DEY SAE “MABE U RIHTA, BUT A SO WATA?”   IA THINKA QWIK, ANA SAE, IFA DA WURLD ISA ROWND U CANA SAIL WEST TO GOA EAST TO CHINA QWIKA TOA GETA DA SPAGETI ANDA DA SILKA U PUTA ONA U CLOSES, NOWA DEY BEGINA TO LISEN TO MEA.   WERE U GETA DA MUNI TO SAIL WEST TOA CHINA?  I SAE, IA GO TO DA MEDICI, INA GENOA, DEY GUTA DA MUNI TOA INVESTI ANA DAE LIKA TO MAKA MUNI LIKA HALLABERTON, CHENEY ANA PRESIDENTI BUSHI IN DA IRAKI OLIO, DA IND HOO ISA INA DA GROUWND.   I MEETA WID DA MEDICI ANDA DEY SAE, OK WE GIVA U DA MUNI BUTA U NEEDA COLLATERAL.  I NO NO WATS COLLATERAL, SO I SAE, WATA COLLATERAL U WANTA?   DAY SAE WATA U GOTTA OFFA VALUE, GOLDA, SILVER RUBIES?   I SAE NO BUT MI PAPA AND MAMA GIVA ME A BIGA SALAMI, EVERBODY LIK VERI MUCH, SO U WANT TO SEE IT?   I NO NO WAT I SAE RONG BUT A SOON THE GARDS TRO ME INA DA STREET ANA SAE, “GO WEST YOUNG MAN!   WIDDA U SALAMI, BUTA DISA NO COLLATERAL”.

          I CANO GO TOA ROMA FOR A DA MUNI BECUZ CAESAR, HESA DED ANA NERO BURN ROMA DOWNA TO DA GROUND, ANA ITSA NO ROMA DERE.  NOW HOW, U NO WAT I MEED?   BUTA DEY SAY, DA POPE, ANA DA CHURCH INA CHARGA NOWANDA DEY GETA ALA MONEY INA DA BOX ONA SUNDAY.   WENA I KISSA HISA RINGA ANDA SAE IWANTA DA MUNI FOR TO GO TO CHINA HE SAE, “U GO TO HELL, NO CHINA, U CRAZY IN DA HED.   IMA GONA EXCOMUNICATE U, IF U SAE DA WURLD IS NO FLAT!”  SUM GUYS SAE SPAIN GOTA DA MUNI ANA DA SHIPS ANA DY TRADE FERDINAND AND QUEEN ISABELLA.   DISA TIMA I BRINGA SUMA GIFS LIKE SPAGETTI ANA SILK FROM CHINA I BY INA DA STOR INA GENOA ANDA U KNOW I GOTTA BRING MY SALAMI FROM MI MAMA AND PAPA.   WENA I SHOW DEM MI GIFS, DEY LIKA EVERYDING BUTA ISABELLA LIKE DA MOST, MI SALAMI.   KINGA FERDINAND HE ISA COLD FOR MI IDEA TO GO WEST TO GO EAST TO CHINA, BUT ISABELLA, SSHE ISA HOTA ALL OVER AND AFTA A FEW DAES SHE CONVINCE FERDINAND TO GIVE ME TREE SHIPS AND MEN FOR A DA VOYAGE, IA TINKA ITSA BECUZ ISABELLA LOV A MI SALAMI SO MUCH SHE EATA IT DAE ANDA NIGHTA AND FERDINAND ISA ALONE INA DA BED.   FINALI FERDINAND, GIF MI DA SHIPS SO I CAN GO AWAY WID DA SHIPS AND LEAVE ISABELLA WID HIMA.   THAT’S WEN I FINDA OUTA WATSA COLLATERAL, FO SURE.  EVERYBODY ASK MI HOW FAR TO CHINA?  I SAY WONA MONS TIMA.  BECUZ I GIGGA ITSA ABOUT A TREE TOUSAND MILES OR OR 5000 KILOMETERS, ASA DA CROW FLIES.  DIS SHIPSA NO GUTA MOTA LIKA QUEEN MARY BUTA WE CANA SAIL SOUTH TOA THE I LAND WID DA CANARIES DEN CATCH DA WEST WIND TO CHINA GOODA IDEA DEY SAE, LETSA GO! 

I GOTTA TREE SHIPPI, DA NINA DA PINTA AND SANTA MARIA, NAMA FO DA BLESSED VIRGIN, IMA CATHOLIC U NO ANA EVERYBODY CATHOLIC, UNDER DA POPE INA ROMA.   I GOTTA CONTRACT WID KINGA FERDINAND FO 10% OFA WHATEVA WE BRINGA BACA AND I GOTA A PRIEST TO CONVERT ALLA DA PEEPLE WE MEET SO WE ALLA CATHOLIC LIKA DA POPE ANA ALLA USSES.   DISA, ISA DA TIMA BEFOR MARTIN LUTHA FROM GERMANY TO BECUME LUTHERAN LIKA HIM ANA MAKA TRUBLLE FOR DA POPE.  ALSO THISA ISA BEFORE KING GEORGIA FROM ENGLAND CHANGE TO PROTISTANI BECUZ DA POPE NO GIF HIMA DIVORCE FRUM MARY QUEEN OF SCOTTS WHO NO HAV MAN BABY FO HIM.

ONA 9^TH OF AUGUSTO 1492 WEA SALE FRUM BARCELLONA, SPAIN ACROSS DA BLU MEDITERRANIAN, PASSA GIBRALTA ANDA INTO DA GREENA ATLANTIC DEN TURNA SOWD TO DA CANARIES.   DA CREW ISA OK FOR ABOWT A MONTH BUT DA FOOD DISAPEAR ANDA DA WATA TASTA NO GOODA ANA WE NO DERE IN CHINA YET.  BUT IA SAE GIF ME TREE MORE DAES BECUZ WE SEE DA BIRDS FLY IN DA SKI ANDA SOME PALMS LEVES AND COCONUTS INA DA WATA SO IF FIGGA LAND IS NEER US FRUM HEER.   DA MEN DEY DRINKA ALA DA WINE TO TRADE ANA DA OILIO DI OLIVA BUT DAT MAKE DEM SIK LIKA COD LIVER OIL AND U CAN COUNT ALA DA SAILORS ONA DA TREE SHIPS FROM DA REAR ENDS HANGING OVER DA SIDA OFFA DA SHIP ALATIMA.  AFTA TOO DAES WE SEE LANDA ONE NITE ANDA DA NEX DAE WE TAKE A FEW MENS ANA ROWABOAT TO SHORE WID DA FLAGS OFA SPAIN AND DA CATHOLIC CROSS AND PLANTA ITA INDA SAND ANA I SAE THANK U GOD FOR TO TAKA USSES TO CHINA ANDA I CLAIMA DIS LANDA FOR SPAIN.   DA DATE ISA OCTOBER 12, 1492, U SEE NOTA MI BIRTHDAE.  I CALLA DIS ISLAND SAN SEBASTION FO MI BOYFREND ONA DA SHIP HOOA TAKA CARA MI SALAMI BECUZ NO WOMANS ALLOWED ONA DA SHIP TO FITE ABOUT ALLA TIMA.  THATSA BECUZ DA SAILORS HAF NOBODI TO PLAY WID BUTA DEMSHELVES.

          WEA LOOKA AROUNDA DA ISLAND QUICK LIKE, BUTA NO FIND WATER OR FOOD OR PEEPLE TO CONVERT SO WEA GO TO ANUDDA ISLAND I CALLA ESPANIOLA BUT TODAY ITSA PARTA HAITI ANDA PARTA DOMENICA REPUBLIC BUTA NO LIKE DA REPUBLICANS INA T DA GOODA OLE U. S. A., DATA RUNA DA CUNTRI WID DA WAR IN IRAQI ANA NO STOPPA ANA COMA HOME FRUM DERE.   NOW WE FINDA WATER ANA FOODA ANA SOME DARK PEEPLE I CALLA INDIANS BECAUSE I TINK I AM IN INDIA CLOSE.   BUT IA FINDA OUTA TOO LATE DAT DEY NO INDIANS BUT NATIVE AMERICANS BECAUSE AMERICO VESPUCCI SAE SO WEN HEA DISCOVER DA U.S.A. BEFORE ITA GUT ITSA NAIMA, HEA GIVE TO DEM.

          I FIGGA IMA INA CHINA, BUTA WERE DA SPAGETTI ANA SILK ANA CHINA?  I KEEPA LOOKA ANA FIND JAMAICA FOR LOTS OF FRESH WATER EAST WID THUNDA INA OURS HANDSA (RIFLES).  I SEE GOLD RINGS ANA BRACELETS ONA DERE ARMSES, AND DEY GIF DEM TO US A GISTSES ANDA WE GIVE THEM RELIGION BUTA DEY NO LIKE IT, ALSO DEY NO LIKE WE TAKA DERE WOMENS AND, U NO, TAKE ADVANTAGE OFFA DEM, LIKA U NO WAT.   SOON DA PEEPLE DIE FRUM A DISEASE WE NO NO, MI FGALT, BUTA DERES.  I THINKA ITSA FRUM EATING TOO MUCHA COCONUT MILKA BUTA ITA CANO BEE BECUZ ITSA TASTE SO GOODA.

          WELL, WE FIND CUBA BEFORE CASTRO RUIN IT AND TAKE OVA DA CUNTRI.  ANA I SAIL BACK TO SPAIN WID DA NEWS I FOUND CHINA AND A KING OF SPAIN AND ISABELLA, WHOA I CALLA ISABELLA BELLA.  IMA A HERO ANA DAE GIVA ME FOUR SHIPS MORE TO RETURN ONA FILL WID GOLD AND SILVER AND OTHER TREASURE WE FINDA ANA TAKA FROM DA INDIANS.

          AFFA FORE TRIPS TO DA PLACE I THINKA CHINA IS ANA I CANO FIND CHINA OR DA PACIFIC OCEAN TO GO DERE, I GIVE UP AND LOSE ALA MY SHIPS AND WEN I GO BAKA TO SPAIN THEY FIRE ME AND PUTA A SPANISH MANA IN CHARGA SO DEY CAN, U NO, SCREW ME OUTA MI CONTRACT FOR DA SHARE OF DA RICHES I FOUNDA.

          I DIED IN 1506 AND I FIND OUTA AFTA IMA DED DAT SPAIN TOOK SHIP AFTA SHIP FULL OF GOLD, SILVER AND RICHES OUTA AMERICA FOR A MANY YERES UNTIL DA ENGLISH AND PIRATES MAKA SO MUCH TRUBBLE AND DA HURRICANES SINK HAFA DA SHIPS ALATIME, EACH SEASON.  DEN IN 1898 WHEN DA BATLESHIP MAINE SINK IN HAVANA CUBA ANDA DA U.S.A., UNDA TEDDY ROOSENVELT, TOOK PORTO RICO, CUBA ANA DA FILAPINES AWAY FROM SPAIN ANA SPAIN GO POOR AGAIN.

          LATER I FIND OUTA DAT A LOT OF DA PEEPLES SAE COLUMBUS NO DISCOVER AMERICA, IT WASA ERIC DA RED FROM NORWAY, WHO FIND IT FIVE HUNDRED YEERS BEFORE IN NEWFOUNDLAND.   THAT’S OK BY MI BUT WHY HE KEEPA IT A SECRET FOR FIVE HUNDRED YEARS ANA HE NO TELL ME, SO I CAN SAVA DA TRIP.  DA ANSWER ISA YOU NO DISCOVA ANYTHING DATA YOU KEEP A SECRET ANA NOBPODI NO FOR ALLA DOSE YEERS, RIGHT?

          SO IMA DA WON HOO DISCOVERED AMERICA ANA ITA FELONGA TO ME BECUZ SPAIN BROKEN DA CONTRACT WID MI.  SO NOW IMA GUNA GO TO DA COURT SUPREME IN THE GOOD OLE U.S.A., LIKE DA INDIANS AND IMA GUNA WINNA MI CASA ANA CHANGA DA NAME OF DA UNITED STATES OF AMERICA TO THE UNITED STATES OF COLUMBUS, BECUZ AMERICO VESPUCCI COTA NO RIGHT TO DATA NAME BECUZ HE BUMP INTO AMERICA WEN I ALREDDY WAS DERE, IN DA FURST PLASES.   DEN IMA GONA CHANGE DA EAGLE FROM DA SIMBOL OF DA U.S. OF COLUMBUS AND MAKA ITA BIGA SALAMI INSTEAD, LIKE ALLA DA PEEPLE DERE, INCLUDING BUSHY, DA PRESIDENTI HOO TINKS WE DUMBA DAN HIM IS.  IFA U REED DIS, NO TELLA ANYBODI, BUTA IMA GONA RUN FOR PRESIDENTI INA 2008 ANA DA SLOGAN ISA “VOTA FOR MI, IMA NAVIGATOR, HOO DISA CUNTRI NEEDSA RITE NOW.   VOTA FOR NO ABSENTIA, DA FINDAAND DA FOUNDA OF DIS CUNTRI, DA UNITED STATES OF COLUMBUS.”

          PLEESA SEE MI CAMPAIGN MANAGER FOR MOORE DEETAILS, JOE MARINO.

TANK U VERI MUCHA.

PART THREE OF THREE PARTS

THE CURE PROPOSED BY ANDY LOONEY: 

1.    SECRETARY PAULSON’S PLAN TO BAILOUT THE GREEDY BANKS, FINANCIAL INSTITUTIONS AND INVESTORS IN THE STOCK MARKET SHOULD BE SUMMARILY REJECTED BY CONGRESS AS ILLEGAL, UNWISE, PRECEDENT SETTING, UNNECESSARY, TOO EXPENSIVE, AN ATTEMPT TO REWARD PEOPLE FOR THEIR MISDEEDS AND NOT THE CURE THAT IS NEEDED FOR THE U.S. ECONOMY.    THOSE GREEDY PEOPLE, HIS FRIENDS IN THE FINANCIAL WORLD HE WANTS TO HELP MUST WORK OUT THEIR OWN TROUBLE OF THEIR OWN MAKING WITHOUT GOVERNMENTAL INTERVENTION.

2.     CONGRESS WOULD DO WELL TO SET UP A MORTGAGE COMPANY SIMILAR TO WHAT PRESIDENT ROOSEVELT DID IN THE EARLY 1930’S TO TAKE OVER ALL DEFAULTED MORTGAGES FROM BANKRUPT BANKS AND LENDING INSTITUTIONS, AS THEY FAIL AND REWRITE THEM FOR THE HOMEOWNER BASED ON EACH OWNER’S ABILITY TO PAY, BASED ON THE CURRENT MARKET VALUE OF THE HOME AND A FAIR INTEREST RATE.   THIS PLAN PROVED SUCCESSFUL IN THE DEEPEST DEPRESSION AND WILL STOP ALL FORECLOSURES AND WILL RESULT IN THE STABILIZATION OF HOME PRICES BECAUSE NONE WILL BE ADDED TO THE HOME INVENTORY TO COMPETE AND FURTHER DEPRESS HOME VALUES.     THE BLIGHT OF EMPTY AND ABANDONED HOMES WILL END AND THE HOME OWNERS WILL BE ABLE TO PAY HIS REAL ESTATE TAXES AND CONTINUE TO LIVE IN A HOME THEY AND THEIR FAMILY NEED.     THIS WILL SOLVE THE MORTGAGE FORECLOSURE PROBLEM ABOUT 75 % WHILE ENDING THE GREEDY AND SUB-PRIME MORTGAGE LENDING PRACTICES.    BANKS AND LENDING INSTITUTIONS SHOULD NOT BE ALLOWED TO WRITE HOME LOANS UNTIL WE SET NEW RULES AND CONDITIONS AND WE HAVE FULL EMPLOYMENT AGAIN.

3.     CONGRESS MUST REINSTATE AND ADD ADEQUATE CONTROLS AND REGULATIONS ON BANKS AND; IT IS SO THAT PRESENT NON DEFAULTED MORTGAGES AND FUTURE MORTGAGES ARE REVIEWED BY THOSE GOVERNMENT AGENCIES OF THE F.D.I.C. AND BONDED INSURANCE COMPANIES, SUCH AS A.I.G. SO THIS MESS AND CRISIS DOES NOT HAPPEN AGAIN.    INSURANCE COMPANIES MUST BE BONDED WITH COLLATERAL SECURITY AT ALL TIMES.

4.        THE 700 BILLION DOLLARS PLANNED FOR THIS BAILOUT CAN NOW BE USED TO PICK UP THESE DEFAULTED MORTGAGES AT MARKET VALUE FROM THE BANKRUPTCY COURT BY THE PLANNED REINSTITUTION OF A “HOME OWNERS LOAN CORPORATION,” MORE FULLY DESCRIBED IN #3 ABOVE, WHILE ANY SURPLUS, CAN BE USED TO RE-INFUSE THE FINANCIAL MARKET OR INVESTED IN ALTERNATIVE, RENEWABLE ENERGY COMPANIES TO BE SET UP IN THIS COUNTRY.

5.        CONGRESS HAS HAD 35 YEARS TO SET UP A PLAN FOR ALTERNATIVE AND RENEWABLE ENERGY TO RID US OF THE CRIPPLING DEPENDENCE ON FOREIGN OIL AND THE NOW PROHIBITIVE ENERGY PRICES.     HOWEVER, AS USUAL, IT HAS DONE NOTHING, AND NOW WE ARE IN CRITICAL ENERGY CRISES, WITH PRICES WE CANNOT AFFORD AND ABOUT A 750 BILLION DOLLARS PAYOUT OF OUR ASSET TO FOREIGN COUNTRIES WHO HATE US AND HAVE NURTURED TERRORISTS LIKE BIN LADIN.

             WE NEED A GOVERNMENT BACKED CRASH PROGRAM TO DEVELOP ALTERNATIVE ENERGY WITHIN THE NEXT FIVE YEARS. OR SOONER, IF POSSIBLE.   PRICES SHOULD BE MADE TO DROP ABOUT FIFTY PERCENT, EVEN IF WE MUST REIN IN DOMESTIC OIL PRODUCERS, PREVENT THE EXPORT OF OUR PRECIOUS OIL.   THIS WILL REDUCE THE PRICE OF FOOD AND TRANSPORTATION.  

                  FUTURE OIL EXPLORATION AND LEASES MUST BE MADE IN PARTNERSHIP WITH THE AMERICAN PEOPLE WHO OWN THIS RESERVES ON OUR LAND AND IN OUR OCEANS.    ALL PRESENT LEASES SHOULD BE REVIEWED AND RE-WRITTEN SO THE PROFIT THERE FROM CAN BE CONTROLLED AND SHARED BY THE AMERICAN PEOPLE.

             NO OTHER SOURCE OF ENERGY SHOULD BE DENIED ACCESS TO THE MARKET, IF ONLY FOR THE SAKE OF COMPETITION.   NUCLEAR ENERGY A PROVEN CLEAN SOURCE OF ENERGY MUST BE ENCOURAGED WHILE NUCLEAR WASTE MUST BE SAFELY DISPOSED OF.

            THIS PROGRAM WILL FIND NEW JOBS FOR THE UNEMPLOYED WHOSE NUMBERS SHOULD BE REDUCED BY 50% THEREBY.

6.    EFFECTIVE 1/1/09 ALL WORK VISAS MUST BE CANCELLED AND SAID JOBS FILLED BY AMERICANS, EXCEPT IN THE RARE INSTANCE OF CRITICAL SHORTAGE OF TRAINED OR UNTRAINABLE WORKERS.    THANKS TO THE VERSATILITY OF 90% OF AMERICAN WORKERS I DOUBT IF THERE IS ANY JOB THEY CANNOT DO OR BE TRAINED TO DO IN A REASONABLE TIME.   THE DAYS OF IMPORTED CHEAP LABOR MUST END UNTIL WE HAVE FULL EMPLOYMENT IN THE U.S.A.

      OUR BORDERS MUST BE SEALED AND ADEQUATELY GUARDED FOR SAFETY AND NATIONAL DEFENSE REASONS.    THIS WILL ALSO HELP THE CONSTRUCTION WORKERS NOW UNEMPLOYED, FIND THE WORK, WHILE OTHER UNEMPLOYED AMERICANS WILL RECLAIM THE JOBS THOSE ILLEGAL EMPLOYERS CLAIM THEY DO NOT WANT.

7.    MORE THAN 50 % OF THE UNEMPLOYMENT PROBLEM IS CAUSED BY THE PRESENT FREE TRADE POLICIES IN EFFECT WITH FOREIGN COUNTRIES, LIKE CHINA, INDIA AND MEXICO.     THE U.S. STEEL, AUTOMOTIVE AND AIRCRAFT INDUSTRIES ARE IN TROUBLE WITH FOREIGN COMPETITIONS AND HAVE BEEN FOR MORE THAN THIRTY YEARS, CAUSED BY CHEAP FOREIGN LABOR AND UNFAIR COMPETITION.   THESE INDUSTRIES ARE VITAL TO OUR NATIONAL DEFENSE, YET THE GOVERNMENT AND OUR LABOR UNIONS HAVE TURN A BLIND EYE TO THIS PROBLEM AS IT HAS WORSENED.    UNIONS NEED TO STEP FORWARD AND WORK WITH MANAGEMENT TO FIND WAYS TO COMPETE AND BECOME MORE EFFICIENT.    IT IS OBVIOUS THAT SOME TYPE OF PROFIT SHARING PLAN NEED TO BE EMPLOYED TO GIVE THE AVERAGE WORKER MORE INCENTIVE THAN TO COLLECT A WEEKS PAY.

     INSTEAD OF FREE TRADE, WHICH HAS CAUSED US THIS UNEMPLOYMENT AND UNBALANCE OF TRADE, WE NEED A NEW PLAN CALLED BALANCED TRADE.    FOREIGN COUNTRIES MAY SELL AND SHIP US ALL THE GOODS THEY WANT BUT MUST BE PAID IN AMERICAN GOODS, NOT MONEY.    THIS WILL NOT ONLY HELP PUT OUR WORKERS BACK TO WORK, IT WILL HELP TO MAINTAIN A BALANCED TRADE AND AVOID FUTURE CRIPPLING TRADE DEFICITS. 

ALL SUBSIDIES FOR DOMESTIC COMPANIES TO HELP THEM MOVE OVERSEAS, OR TO THE RICH OIL COMPANIES MUST STOP AND BE GIVEN TO THE NEWLY FORMED AND BACKED ALTERNATIVE ENERGY COMPANIES IN THE U.S.A.

8.    THE IRAQIS GOVERNMENT MUST PAY FOR THE COST OF THE WAR IN IRAQ AT THIS POINT FROM THEIR MOUNTING OIL PROFITS.    IT IS OBVIOUS EVEN TO THE MOST CASUAL OBSERVER THAT THERE WERE, NO TERRORISTS IN IRAQ WHEN WE INVADED THAT COUNTRY.    THE TERRORISTS, MOSTLY FROM IRAN AND SERIA CAME THERE BECAUSE THEY WANTED TO MAKE THE AMERICAN TROOPS THEIR TARGETS, WHEN WE LEAVE IRAQ THEY WILL LEAVE ALSO.  

            THE PROBLEM WITH IRAQ IS THAT THE THREE PRINCIPAL FACTIONS, THE SHIITES, THE SUNNIS AND THE OIL RICH, WHICH ARE AND HAVE BEEN IN A SECULAR WAR FOR TWO THOUSAND YEARS AND WHICH WILL CONTINUE FOREVER AS LONG AS ONE FACTION IS ALIVE.    IRAQ AND SERIA, TWO STRONG ARM NATIONS BACK THE SHIITES AND WILL DO EVERYTHING THEY CAN TO HELP THEM QUELL THE OTHER TWO FACTIONS.    IN ANY EVENT IT IS A CIVIL WAR THE U.S.A., SHOULD NOT GET INVOLVED IN, AS A MATTER OF DIPLOMACY.    WE WON THE WAR WHEN WE DEFEATED THE SUNNIS AND CAPTURED SADAM HUSSIEN AND PUT HIM TO DEATH.    OUR STATED MISSION TO OUST THE IRAQI GOVERNMENT AND REMOVE HUSSEIN WAS OVER WHEN PRESIDENT BUSH LANDED ON THAT AIRCRAFT CARRIER AND ANNOUNCED “MISSION ACCOMPLISHED” IF WE LEAVE NOW WE HAVE THE VICTORY OF OUR MISSION AND WE WILL STOP THE BLEEDING OF OUR TROOPS AND THE COST OF THIS WAR WITHOUT END.

      THE MONEY SAVED, THEREBY CAN BE PUT TO WORK ON DOMESTIC PROJECTS HERE TO HELP THE ECONOMY AND REDUCE UNEMPLOYMENT.

      THE ONLY PERSON ENRICHED BY THIS WAR IS VICE-PRESIDENT CHENEY AND HIS COMPANY, HALLIBURTON.    HE IS LAUGHING ALL THE WAY TO THE BANK, WHILE WE CRY.

    THIS PLAN IS NOT THE ANSWER TO ALL OUR PROBLEMS IN THIS COUNTRY AND THERE ARE MANY MORE WE HAVE NOT MENTIONED, IT IS A START, SO LETS GET STARTED AND END ALL THESE GIVEAWAYS.   

PART TWO OF THREE PARTS

EFFECT:

       PRESIDENT BUSH’S ACTION IN PLEDGING 200 BILLION DOLLARS OF YOUR MONEY TO GUARANTEE BEARS STEARNS DEBTS DID NOTHING BUT SAVE THEM FROM BANKRUPTCY.    THIS ACTION DID NOTHING BUT BAIL OUT THE COMPANY, ITS HEAVILY SALARIED C.E.O.’S AND ITS STOCKHOLDERS WHILE THE ECONOMY AND FORECLOSURES WORSENED BY THE DAY.

      THEN, IN A MOVE SPARKED BY SENATOR DODDS, CHAIRMAN OF THE SENATE COMMITTEE ON BANKS AND BANKING, HE CONVINCED HIS COLLEAGUES TO PASS A BANK BAILOUT BILL WHICH ALLOWED THEM TO SELL THEIR BAD AND DEFAULTED MORTGAGES TO FANNY MAE AND FREDDIE MACK TWO GOVERNMENT BACKED AND GUARANTEED ENTITIES, ALREADY OVERLOADED WITH DEFAULTED MORTGAGES.   THIS MOVE PROVED UNSUCCESSFUL SINCE, WITHIN DAYS, THE U.S. GOVERNMENT WAS OBLIGED TO TAKE OVER THESE COMPANIES PAY OUT MONEY IT DID NOT HAVE UNDER IT’S MORTGAGE PAYMENT GOVERNMENT GUARANTEES, WHILE PAYING THEIR TWO CEO’S OUTRAGEOUS SEVERANCE PAYOUTS.

      NOW, WITH THE STOCK MARKET TAKING STEADY LOSSES THIS PAST TWO WEEKS, THOSE FINANCIAL INSTITUTIONS FINALLY REALIZED THEY HELD MORTGAGES EITHER IN DEFAULT, IN DANGER OF DEFAULT OR IN AN AMOUNT ABOUT 20-30% HIGHER THAN THE VALUE OF THE HOME PUT UP AT COLLATERAL WITH LITTLE CHANCE OF THE HOMEOWNER HAVING THE EQUITY TO MAKE UP THE DIFFERENCE.     THEY NOW TURNED TO A.I.G. THE INSURER OF THESE LOANS AND MORTGAGES, TO PAY FOR THESE LOSSES.    A.I.G. FOUND THEMSELVES IN TROUBLE BECAUSE THE MONEY ASSETS FROM PREMIUMS IT HAD TO BACK UP THE COMPANY WAS ALSO LOST IN THE STOCK MARKET BECAUSE OF BAD INVESTMENTS.

      IN STEPPED THE FEDERAL RESERVE SYSTEM AND DECIDED TO MAKE AN 85 BILLION DOLLAR GUARANTEE OF A.I.G. DEBTS IT HAD ALREADY BEEN PAID A PREMIUM TO INSURE AGAINST.    THIS IS A WIN WIN SITUATION FOR A.I.G AND HELPS NO ONE BUT A.I.G. IT’S C.E.O.’S AND STOCKHOLDERS WITH MONEY TO BE PAID BY THE AMERICAN TAXPAYER.

      WITHIN A FEW DAYS, TREASURY SECRETARY PAULSON, FORMER C.E.O. OF GOLDMAN SACHS, ANOTHER LENDING INSTITUTION, ENTERED THE AFFRAY BY CALLING FOR A GOVERNMENT BAILOUT OF ALL BANKS AND LENDING INSTITUTIONS THAT GAVE BIRTH TO THIS FINANCIAL CRISIS THROUGH THEIR SHEER GREED FOR PROFIT.    HIS ARGUMENT IS THAT THIS TRILLION-DOLLAR PAYOUT WILL AVOID ANOTHER MARKET CRISIS LIKE THAT OF THE 1929 STOCK MARKET CRASH AND THE RESULTING BANK FAILURES.  THAT PUT THE COUNTRY IN A TEN-YEAR DEPRESSION WITH UNEMPLOYMENT REACHING 30%.     TO ME, IT SOUNDED LIKE THE EMERGENCY PRESIDENT BUSH PROVIDED TO CONGRESS IN ORDER TO START A WAR IN IRAQ WITHOUT VERIFICATION OF THE SUPPOSED REASONS.     IN ADDITION, NONE OF THE DETAILS WERE EVEN PROMULGATED FOR THE CONGRESS TO CONSIDER.    WHAT THEY WANT IS A CARTE BLANC.

      MY IMMEDIATE OBSERVATION IS THAT WE CANNOT FOR ANY REASON REWARD WRONGDOERS FOR THEIR DELIBERATE MISDEEDS, THE COST MAY BE A TEMPORARY DOWNTURN, BUT THEN AGAIN IT MAY BE A BLESSING IN DISGUISE.    IF BANKS AND FINANCIAL INSTITUTIONS FAIL AND GO INTO BANKRUPTCY, THEY WILL BE THE PRINCIPAL LOSERS, WHILE THEIR DEBTORS, MORTGAGE HOLDERS WILL RECEIVE A REPRIEVE THROUGH THE BANKRUPTCY PROCESS AND SUFFICIENT TIME TO HAVE THE COURT EVALUATE AND REWRITE THESE MORTGAGES TO MANAGEABLE AND EQUITABLE PRINCIPAL AMOUNTS WITH FAIR INTEREST TO KEEP THE OWNERS IN THE HOMES THEY NEED.    THE FACT IS, THAT BANKRUPTCY OF THE FINANCIAL INSTITUTIONS WILL STOP FURTHER FORECLOSURES THEREBY STABILIZING THE HOUSING MARKET AND STOPPING IT’S DOWNTURN IN VALUE.     WE CANNOT LET WRONGDOERS PROFIT FOR THEIR MISDEEDS, THEY NEED TO TAKE THE LOSS FOR THE RISKS THEY TOOK ALONG WITH INVESTORS WHO MADE A GAMBLING CHOICE AND MUST PAY FOR IT, NOT THE AMERICAN TAXPAYER, WHO SHOULD NOT BE MADE TO PAY FOR ANOTHER’S MISTAKES.

      ASIDE FROM THE QUESTION OF THE LEGALITY OF CONGRESS PASSING THIS BAILOUT IS THE REAL QUESTION OF ITS PROPRIETY, WHICH DOES NOT MEET THE TEST, EITHER EVEN IN THE FACE OF A DEEP DEPRESSION PRESIDENT ROOSEVELT DID NOT THINK IT PRUDENT TO AID THE FINANCIAL INSTITUTIONS, WHAT HE DID WAS TO SHUT DOWN THE BANKS AND SET UP THE “HOME OWNERS LOAN CORPORATION”, WHO PICKED UP ALL THE MORTGAGES, REWROTE THEM IN AMOUNTS OF PRINCIPAL AND INTEREST THAT THE HOMEOWNER COULD AFFORD TO PAY.    THE RESULT WAS THAT MOST OWNERS STAYED IN THEIR HOMES AND MADE THE PAYMENTS UNTIL PAID.    THAT PLAN WAS A SUCCESS AT NO REAL COST TO THE AMERICAN TAXPAYER AND WE SHOULD SERIOUSLY CONSIDER THIS PLAN AGAIN.

     LEE IACCOCA DIDN’T ASK FOR A BAILOUT OF CHRYSLER WHEN IT HAD TROUBLE MEETING FOREIGN COMPETITION, HE ASKED FOR AND RECEIVED A SUBSTANTIAL LOAN FROM THE U.S.A.WHICH HE PAID BACK WITH INTEREST IN THREE YEARS, EARLIER THAN IT WAS DUE.

      SECRETARY PAULSON IS ALSO ASKING FOR AN INCREASE IN THE NATIONAL DEBT TO 11.5 TRILLION DOLLARS, MORE THAN DOUBLE IT’S PRESENT AMOUNT, CAUSED BY THE WAR IN IRAQ AS ITS COST HAS NOT BEEN PART OF THE BUDGET FOR THE LAST SEVEN YEARS AND IS DEFERRED TO OUR CHILDREN AND GRANDCHILDREN.     THE INTEREST ALONE ON THIS DEBT WILL CRIPPLE THE FUNCTION AND OPERATION OF THE GOVERNMENT AT A TIME THAT WE NEED THIS MONEY TO HELP THE ECONOMY.     IF WE HAVE A BAILOUT IT SHOULD BE AIMED AT A CURE OF THE FALTERING ECONOMY AND NOT A BAILOUT FOR THOSE WHO PUT US IN THIS CRISIS.

      THE RECENT STIMULUS PACKAGES PUSHED BY BUSH AND OBAMA IS NO MORE THAN THROWING MONEY AT A PROBLEM THAT GIVES TOKEN RELIEF FROM THE PAIN BUT CERTAINLY NOT THE CURE, THAT IS NEEDED.

       REMEMBER, THIS IS A PRESIDENTIAL AND CONGRESSIONAL ELECTION YEAR AND YOU CAN COUNT ON CONGRESS TO DO EVERYTHING TO INSURE THEIR RE-ELECTION, REGARDLESS OF THE COST TO THE AMERICAN PEOPLE.     IN SPITE OF THEIR POSTURING AND PUBLIC COMPLAINTS ABOUT PAULSON’S PLAN, YOU CAN BE ASSURED THEY WILL APPROVE IT IN A FEW DAYS WITH TOKEN CHANGES.      THE ONLY RECOURSE FOR THE AMERICAN PEOPLE IS TO THROW THEM OUT OF OFFICE ON NOVEMBER 4, 2008.

      TO UNDERSTAND THE FULL IMPACT OF CONGRESS’S LATEST BAILOUT PLAN WE MUST LOOK AT THE CAUSES, EFFECT AND THE POSSIBLE CURE TO THIS MESS, NO ONE REALLY UNDERSTANDS.    THIS WILL, OF NECESSITY, BE A THREE PART ARTICLE, ONE PER DAY, TO HELP THE AVERAGE AMERICAN UNDERSTAND WHAT CONGRESS AND THIS ADMINISTRATION IS TRYING TO DO WITH THE MONEY WE DON’T HAVE IN THE TREASURY, JUST SO THEY MAY SAVE FACE, BE RE-ELECTED AND POSTPONE THE INEVITABLE BREAKDOWN OF THE ECONOMY UNLESS THEY PLAN A REAL FIX AND BAILOUT OF OUR ECONOMY SO THAT IT MAY RECOVER IN A YEAR OR TWO.

PART ONE OF THREE PARTS

THE CAUSE:

      IN THE LATE 1990’S WALL STREET AND MANY FINANCIAL INSTITUTIONS DECIDED THEY WANTED TO SHARE IN THE PROFITS BEING GENERATED BY THE EXPANDING, REAL ESTATE MORTGAGE MARKET, CONTROLLED EXCLUSIVELY BY BANKS.     SINCE BANKS WERE REGULATED AND LIMITED BY LAW TO LOAN MONEY BASED ON A PERCENTAGE OF THEIR DEPOSITS, THEY ALSO FOUND THEY WERE LIMITED IN MEETING THE EXPANDING DEMAND OF THE MORTGAGE LOANS.

      AS A RESULT THESE BANKS, THEIR STOCKHOLDERS AND OTHER FINANCIAL INSTITUTIONS, ANXIOUS TO EXPAND THEIR LENDING PRACTICES AND THEIR PROFITS, PETITIONED CONGRESS THROUGH THEIR CONGRESSMEN WHO OBLIGINGLY PASSED THE NECESSARY LEGISLATION TO LIFT THESE REGULATIONS ON BANKS TO ALLOW THEM UNLIMITED POWER TO WRITE MORTGAGES AND ALSO TO ASSIGN THEM TO THESE FINANCIAL INSTITUTIONS, REGISTERED IN THE STOCK MARKETS IN 1999.     PRESIDENT CLINTON SIGNED THE LEGISLATION PASSED BY A REPUBLICAN CONTROLLED CONGRESS.     THE BANKS TOOK ADVANTAGE OF THIS LEGISLATION BY APPROVING QUESTIONABLE AND SO CALLED SUB PRIME MORTGAGES, AND TURNING A QUICK CLEAN PROFIT BY BUNDLING THEM TOGETHER AND ASSIGNING THEM OUT OF THEIR CONTROL AND RESPONSIBILITY.

      INTO THE PICTURE ROSE INSURANCE COMPANIES LIKE A.I.G TO FILL THE GAP BETWEEN THE F.D.I.C. GUARANTEES ON THE BANK DEPOSITS AND THOSE MORTGAGES ASSIGNED TO THE FINANCIAL INSTITUTIONS.    THEY INSURED THESE MORTGAGES BUT WERE NOT REQUIRED TO BACK THESE INSURANCE POLICIES WITH ANY ASSET COLLATERAL.     THUSLY, BEGAN THE INCREASING EXPOSURE OF MORTGAGE LOANS TO INSURED.

BUT UNSECURED STATUS, IN AN ALREADY FLUCTUATING AND VOLATILE STOCK MARKET.

EVERYONE KNOWS AND MOST HAVE EXPERIENCED THE VOLATILITY OF THE STOCK MARKET, ESPECIALLY SINCE THE 1929 MARKET CRASH AND THE SEEMINGLY CYCLICAL RISE AND FALL OF STOCK PRICES FROM TIME TO TIME.       WITH THE ECONOMY FALTERING AND INTEREST RATES CONTINUALLY FALLING IN THE EARLY 2000’S, TO A RATE AT OR LOWER TO THE INFLATION RATE, IT WAS NO WONDER THAT LARGE PORTFOLIO MANAGERS LIKE RETIREMENT FUNDS AND INDIVIDUAL INVESTORS CHOSE TO ACCEPT THE GAMBLE OF THE STOCK MARKET, HOPING FOR A GREATER PROFIT THAN BANK PAID IN INTEREST.

      WITH U.S.BUSINESSES SHUTTING DOWN AND GOING OVERSEAS DUE TO THE COMPETITION FOR CHEAP LABOR, AND THE RESULTING RISE IN UNEMPLOYMENT, THE RISE IN THE TRADE DEFICIT AND THE LOWERING VALUE OF THE U.S.DOLLAR, THE ECONOMY SHOWED REAL SIGNS OF WEAKENING.    THE WAR IN IRAQ AND AFGHANISTAN ADDED ABOUT 750 BILLION DOLLARS A YEAR TO THE NATIONAL DEBT, WHICH AS OF 2008 REACHED ABOUT 4 TRILLION DOLLARS.

       ALL THIS HAPPENED IN SPITE OF THE AMERICAN PEOPLE, TIRED OF THE UNENDING WAR AND COST, WHO VOTED OUT THE REPUBLICAN MAJORITY AND BY DEFAULT HANDED THE DEMOCRATS BACK THE LEADERSHIP THEY HAD LOST FOR TEN YEARS, IN THE HOPE THEY COULD TURN THE ECONOMY AROUND.     IT IS NOW TWO YEARS LATER AND CONGRESS HAS ALLOWED THE ECONOMY TO WORSEN TO THIS CRITICAL POINT WHILE DOING ABSOLUTELY NOTHING TO END THE WAR, STOP RISING FUEL OIL AND GASOLINE PRICES THAT HAVE ONLY ADDED FUEL TO THE TOTAL MELTDOWN OF OUR AMERICAN ECONOMY.

      THE ONLY REMAINING VESTIGE OF THE ECONOMY WAS THE CONSTRUCTION AND HOMEBUILDING INDUSTRY WHOSE PRICES HAD BECOME INFLATED DUE TO THE LIBERAL LENDING PRACTICES OF OUR BANKS.

      RISING GAS AND HEATING OIL PRICES CAUSED BY GREEDY OIL COMPANIES AND INVESTORS IN THE FUTURES MARKET, SINCE 2004, CAUSED RISING PRICES IN FOOD AND TRANSPORTATION COSTS WHILE PRICES FOR ENERGY FUELS DOUBLED IN A TWO-YEAR PERIOD.   

      THIS FINAL BLOW CAUSED THE BUBBLE TO FINALLY BURST IN THE BUILDING INDUSTRY, ALSO BURDEN BY OVERBUILDING.     PRICES OF HOMES BEGAN TO FALL IN EARLY 2006 AT THE RATE OF 10 -15% A YEAR OVER THE LAST NEARLY THREE YEARS.     THIS SITUATION ALSO CAUSED MORTGAGE BALANCES TO EXCEED THE VALUE OF THE HOME AND THE FLOOD OF FORECLOSURES BEGAN AT THE RATE OF $800,000 A YEAR, SINCE THE HOMEOWNER OF SUB PRIME MORTGAGES ALONG WITH THE MONEY STRAPPED UNEMPLOYED, HAD LITTLE OR NO REMAINING ASSETS TO WORRY ABOUT LOSING.

      THIS SITUATION HAS WORSENED OVER THE LAST THREE YEARS WITH FORECLOSURES REACHING 2 AND ½ MILLION A YEAR AND ESTIMATES IT WOULD DOUBLE BEFORE LONG.