Day: September 22, 2008

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Our congressman Voted NO

H.R. 1461 [109th]: Federal Housing Finance Reform Act of 2005

How the Democrats created the financial crisis

Sept. 22 (Bloomberg) — The financial crisis of the past year has provided a number of surprising twists and turns, and from Bear Stearns Cos. to American International Group Inc., ambiguity has been a big part of the story.

Why did Bear Stearns fail, and how does that relate to AIG? It all seems so complex.

But really, it isn’t. Enough cards on this table have been turned over that the story is now clear. The economic history books will describe this episode in simple and understandable terms: Fannie Mae and Freddie Mac exploded, and many bystanders were injured in the blast, some fatally.

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UH OH!!

MOSCOW (AP) — A Russian navy squadron set off for Venezuela Monday, an official said, in a deployment of Russian military power to the Western Hemisphere unprecedented since the Cold War.

The Kremlin recently has moved to intensify contacts with Venezuela, Cuba and other Latin American nations amid increasingly strained relations with Washington after last month’s war between Russia and Georgia. During the Cold War, Latin America became an ideological battleground between the Soviet Union and the United States. someone’s worried