Wednesday, October 01, 2008

Thoisday.....WOOO WOOOO WOOO....


Well be a photygraff of what Congress has been doin these past many years before the catastopic failure of Fannie & Freddie, and other inept/corrupt financial institutions...


Now Sir...if'n y'all appreciate a great pool shot, and aren't offended by some NUDITY....y'all are gonna love this shot by a naked white chick......

Thanks "Chief".....



Well Sir...."Charlie the Cop" sends us this oldie but goody...but always worth a reprint....

A wealthy family took their frail, elderly grandmother to a famous and expensive nursing home and left her, hoping she would be well cared for.

The next morning, the nurses luxuriously bathed her- fed her a tasty breakfast cooked by a famous chef, and set her in a chair at a window overlooking a lovely flower garden.

She seemed okay, but after a while she slowly started to tilt sideways in her chair.

Two attentive nurses immediately rushed up to catch her and straighten her up.

Again she seemed okay, but after a while she slowly started to tilt over to her other side.

The nurses rushed back and once more brought her back upright. This went on all morning.

Later, the family arrived to see how the old woman was adjusting to her new home.

"So Grandma, how is it here? Are they treating you all right?"

"It's pretty nice," she replied.

"Except they won't let me fart."


S'more headlines frum "Upstate Nikki" that shoulda been proof read first.....


Well Sir...heres an interestin E-mail I received yesterday, and although I generally do not post the majority of these I receive, I felt this one was important enough to pass along.


Now Sir...since I'm very busy as of late, I do not have the time to check on all the "facts" and the story's veracity, so here's my request. Although I've verified some of it....If there anyone out there who has the time to thoroughly investigate this...please do, and leave a comment as to whether this is partially or completely true or is incorrect in some way. I will then either remove this post or let it stand...Thanks!

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 responsibility 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 findings 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.

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 that 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 bonu ses 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 report 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 curre ntly 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? I'll bet ya already got some idea.....

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


- THEY MADE THE MESS IN THE FIRST PLACE. Would you trust the men who tore Wall Street down to build the New Wall Street,


_________________________________________ is a very interesting C-SPAN video of Republicans pleading for oversight and regulation of FREDDIE & FANNIE....and Democrats objecting and stating unequivocally that THERE IS NO PROBLEM WITH THESE AGENCIES.
Make up your own minds as to who was covering up for who's ass.......

This is video from a couple of years ago...while all the impropriaties were going on and happening...