If I had to think of ONE thing, aside from trickle-down/deregulation economics, that had more to do with the mess we are in than anything else it would be...

Tada...WALMART

Over the years I have watched this town whither away due to the increase in size of Walmart. At first, they were an okay store, and they were attached to our only Mall which helped out the other businesses. They prided themselves on selling mostly American merchandise. Then they added on an auto service section and a grocery store, and a couple of our smallest tire shops, oil change places, and farmer's markets all went under.

Then came SUPER WALMART.

It wasn't long before more and more small businesses disappeared, only to be replaced be the next corporate invaders -- Home Depot has killed off most of the small hardware and specialty stores. Smaller hole in the wall restaurants have disappeared with the appearance of the corporate chains. Computer stores are all but gone thanks to OfficeMax and others. I could of course go on and on and on.

I have a solution. Wake up the sheeple to stop buying Chinese crap and SHUT DOWN WALMART!!

Unfortunately, I have no idea how to do it, but if it were to happen I believe we would see an incredible invigoration in small business. The doors would once again be open for people to build their own businesses again.

Small American businesses buying from small American businesses. Can you imagine? I can. I'm only 31 and I can remember it in MY lifetime.

Any suggestions?

I'd like to congratulate our new members of Congress:

Senator Tom Udall who defeated Steve Pearce 61% to 39%
Congressman Martin Heinrich (CD-1) who defeated Darren White 55% to 45%
Congressman Harry Teague (CD-2) who defeated Ed Tinsley 55% to 45%
Congressman Ben Ray Lujan (CD-3) who defeated Daniel East 56% to 30%

These are fine men, all. I am especially proud of Tom Udall, though, who will do us very proud as he has already done in the House.

They join Gov. Bill Richardson, and Senator Jeff Bingaman to turn our state COMPLETELY BLUE.

We are the ONLY 100% BLUE STATE West of the Mississippi. Take THAT GOPers!!

Okay, please don't tombstone my ass just for posting this up here for help. I'm not trying to spread this, I'm trying to crush this with good information. I know the best place to find it is here. I am tired of getting right wing spew from this person, and would dearly love to put them in their place.

I rec'd an email from a friend with a Power Point slideshow attached that goes as follows:

SHOT IN THE FANNIE IN FREDDIE
The History of a Financial Disaster

1997
Fannie Mae is a GSE (Govt. Sponsored Entity) regulated by Congress.
Fannie Mae buys mortgages from other companies.
It is backed by the taxpayers for all losses, but keeps all profits.
President Clinton loosens Home Loan Requirements.

1998
Banks begin making thousands of bad loans,0 down, no documentation, for 120%! (1998 – 2008).
Executives at Fannie receive huge bonuses if loan targets are met.
Franklin Raines and Jamie Garelick from the Clinton Administration are appointed to run Fannie Mae.

2003
President Bush proposes a new oversight committee to clean up Fannie Mae, but Democrats derail the effort.

Rep. Melvyn Watt, (D-NC) Committee on Financial Institutions & Consumer Credit. stated, “I don’t see much other than weakening the bargaining power poorer families to get affordable housing.”

1999 - 2004
Raines earns $100 million in bonuses.
Garelick earns $75 million in bonuses.
In 2004, Enron collapses, congress investigates, Executives Skilling & Lay go to jail, for fraudulent bookkeeping.
Congress responds with the Sorbanes-Oxley Act, more heavy regulation of corporations.

2004
An OMB investigation finds massive fraudulent bookkeeping at Fannie Mae.
False numbers triggered executive bonuses every year.
Congress holds no hearings, no one goes to jail, or is punished.
WHY NOT?

1999 -2005
Fannie Mae gives millions to Democratic causes, examples: Jesse Jackson & ACORN.
Fannie Mae pays millions to 354 congressmen and senators, from both parties.
Who got the most money?

Top 4 Recipients
1. Sen. Chris Dodd (D-CT) - Chairman Banking, Housing, and Urban Affairs Committee
2. Sen. Barack Obama (D-IL) - Federal Financial Management Committee
3. Sen. Chuck Schumer (D-NY) - Chairman Finance Committee
4. Rep. Barney Frank (D-MA) - Chairman House Financial Services Committee


2005
Franklin Raines & top execs are forced to resign from Fannie Mae.
They do not go to jail.
There is no media “perp. walk.”
They keeps all of their bonuses
They finally pay $31.4 million in civil fines.

2005
The Federal Housing Enterprise Regulatory Reform Act is sponsored by:
Sen. John McCain (R-AZ) "If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole."

2005
None of the top 4 recipients support the legislation.
The reform act is blocked by Democrats, never even making it out of committee.
None of the politicians return any of the money, tainted by fraud.

2008
Fannie Mae & Freddie Mac go bankrupt and the govt. takes them over completely.
Lehman Brothers, goes bankrupt from investing in bad mortgages.
AIG get $85 million in loan guarantees, after insuring bad loans & projects.
Taxpayers will ultimately pay BILLIONS.

2008
Franklin Raines is now an advisor to the Obama Campaign which wants the govt. to take over more of the economy.
Did government involvement in the mortgage market work out?
How will even MORE government involvement make it better? Do you want to be Sweden?
McCain favors revising regulations & loan standards, selling off Fannie & Freddie.

SOURCES
Congressional Record, 5/25/06
“Hannity & Colmes,” Fox News, 9/16-9/17/08
Herald Tribune, 4/18/08
New York Times, 9/13/03
www. govtrack.com, 9/17/08


Again, please don't turn my ass into pizza for this. I just want to make this person sit in their own debunked spew.

Now, I know the easiest info to pull out is the Phil Gramm legislation that created the deregulation causing this mess, including the Enron loophole. Also, the fact that republicans have been following Friedman with that "free market will control everything" BS.

I'm sure this slideshow will go viral in wingnut circles, so it would be nice to have a resource to fight it. This is going to be the strategy of the right to blame it on the dems.

Just Sayin'