Friday, February 05, 2016

The Republicans ran the USA into the ground, even in the 1990s.

It wasn't the Democrats responsible for bank deregulation in the 1990s. The chart at this website provide an accounting for the Congress numbers over centuries (click here).

37th President of the USA was Richard M. Nixon from January 20, 1969 -1974

February 21, 1972 (click here)
On his visit to China, Nixon met with Chinese Premier Zhou Enlai. The two leaders agreed to expand cultural contacts between their two nations. Nixon also established plans for a permanent U.S. trade mission in China.

Nixon had a majority Democratic Senate and House.

38th President of the USA was Gerald Ford from August 9, 1974 - Jan. 20, 1977

He brought the troops home from a major illegal war waged in China's backyard. Gerald Ford had a majority Democratic Senate and House.

...Ford's chief economic error, however, was political in nature. (click here) He replaced his first economic program, which raised taxes and capped spending in an effort to combat inflation, with a plan that cut taxes and limited government spending in the hopes of fighting unemployment. Democrats accused him of doing too little to help Americans suffering from the unforgiving economy and of flip-flopping on the tax issue....

39th President of the USA was Jimmy Carter from January 20, 1977 - 1981

1978, Marquette vs. First of Omaha – Supreme Court allows banks to export the usury laws of their home state nationwide and sets off a competitive wave of deregulation, resulting in the complete elimination of usury rate ceilings in South Dakota and Delaware, among others

Jimmy Carter had a majority Democratic Senate and House. The Depository Institutions Deregulation helped the consumer and not the banks..

1980, Depository Institutions Deregulation and Monetary Control Act – Legislation increases deposit insurance from $40,000 to $100,000, authorizes new authority to thrift institutions, and calls for the complete phase-out of interest rate ceilings on deposit account.

40th President of the USA was Ronald Reagan from January 20, 1981 - 1989

Ronald Reagan had a mixed Congress. The House maintained a Democratic majority during the two terms of Reagan, but,, the majority in the US Senate flipped from majority Democrat in 1981 to Republican and stayed that way until 1987.

1982, Garn-St. Germain Depository Institutions Act – Bill deregulates thrifts almost entirely, allowing commercial lending and providing for a new account to compete with money market mutual funds. This was a Reagan administration initiative that passed with strong bi-partisan support.

1987, FSLIC Insolvency – GAO declares the deposit insurance fund of the savings and loan industry to be insolvent as a result of mounting institutional failures.  

Reagan demoralized the union integirty when he moved against the pilots union.

41th President of the USA was George H. W. Bush from January 1989 - 1993

George H. W. Bush presided over a majority Democratic House and Senate for four years.

1989, Financial Institutions Reform and Recovery Act – Act abolishes the Federal Home Loan Bank Board and FSLIC, transferring them to OTS and the FDIC, respectively. The plan also creates the Resolution Trust Corporation to resolve failed thrifts.

The FDIC was having fits over bailing out the Savings and Loans because this left the insurance for FDIC banks exposed the country to vulnerabilities. This occurred under Democrats because Bush left them no choice but to bail out his son's short fall in the S&L failures. Of course, Bush's son wasn't the only one. Exactly, right.

When else in the current history of the USA did the Democrats believe they had no choice but to bail out banks? Hm? Another Bush?

42nd President of the USA was Bill Clinton from January 20, 1993 - 2001

Bill Clinton had a majority Democrats in the US House until 1995 when the Republicans achieved a small majority with Gingrich was promising a "Contract with America". It was never obvious what America Gingrich and his Republicans had a contract with. The Senate went from Democratic majority to Republican majority in 1995. Bill Clinton only had a Democratic majority for his first two years.

1994, Riegle-Neal Interstate Banking and Branching Efficiency Act – This bill eliminated previous restrictions on interstate banking and branching. It passed with broad bipartisan support. 

The majority in the Senate and House switch to Republicans. This is what the "Contract with America" got the average depositor. 

1996, Fed Reinterprets Glass-Steagall – Federal Reserve reinterprets the Glass-Steagall Act several times, eventually allowing bank holding companies to earn up to 25 percent of their revenues in investment banking.

1998, Citicorp-Travelers Merger – Citigroup, Inc. merges a commercial bank with an insurance company that owns an investment bank to form the world’s largest financial services company.

1999, Gramm-Leach-Bliley Act – With support from Fed Chairman Greenspan, Treasury Secretary Rubin and his successor Lawrence Summers, the bill repeals the Glass-Steagall Act completely.

2000, Commodity Futures Modernization Act – Passed with support from the Clinton Administration, including Treasury Secretary Lawrence Summers, and bi-partisan support in Congress. The bill prevented the Commodity Futures Trading Commission from regulating most over-the-counter derivative contracts, including credit default swaps.

43th President of the USA was George W. Bush from January 20, 2001 - 2009

"W" Bush started with a Republican majority in the House. That would change in 2007 to a Democratic House majority. The first two years the Senate was equally divided 50-50 with Cheney waiting in the wings to decide ties, so the Senate in 2001 was actually 101 and not 100. The four next years was a majority Republican, but, that flipped in 2007. Yep. The Democrats were pressure to act in 2008 when the global economic collapse hit due to actions of Republican majorities ten years before.

2004, Voluntary Regulation – The SEC proposes a system of voluntary regulation under the Consolidated Supervised Entities program, allowing investment banks to hold less capital in reserve and increase leverage.

2007, Subprime Mortgage Crisis – Defaults on subprime loans send shockwaves throughout the secondary mortgage market and the entire financial system. 

December 2007, Term Auction Facility – Special liquidity facility of the Federal Reserve lends to depository institutions. Unlike lending through the discount window, there is no public disclosure on loans made through this facility.

March 2008, Bear Stearns Collapse – The investment bank is sold to JP Morgan Chase with assistance from the Federal Reserve.

March 2008, Primary Dealer Facilities – Special lending facilities open the discount window to investment banks, accepting a broad range of asset-backed securities as collateral.

July 2008, Housing and Economic Recovery Act – Provides guarantees on new mortgages to subprime borrowers and authorizes a new federal agency, the FHFA, which eventually places Fannie Mae and Freddie Mac into conservatorship.

September 2008, Lehman Brothers Collapse – Investment bank files for Chapter 11 bankruptcy.

October 2008, Emergency Economic Stabilization Act – Bill authorizes the Treasury to establish the Troubled Asset Relief Program to purchase distressed mortgage-backed securities and inject capital into the nation’s banking system. Also increases deposit insurance from $100,000 to $250,000.

Late 2008, Money Market Liquidity Facilities – Federal Reserve facilities created to facilitate the purchase of various money market instruments. 

44th President of the USA was Barack Obama from January 20, 2009 - present.

President Obama had a Democratic majority in the Senate for his six first years. The Senate shifted to a Republican majority in 2015. The House is just the opposite with a Democratic majority for the first two years and then shifting to a Republican majority. The Republicans under Obama have maxed out their damage to the USA with a default and brinkmanship without the assistance of a Republican President in 2016 election. The Republicans wants to shift Medicare to a private voucher program and completely eliminate the Patient Protection and Affordable Care Act and wants to take as much benefit as they can from Social Security. How that is going to solve the national debt without a supporting economy is anyone's guess.

March 2009, Public-Private Investment Program – Treasury Secretary Timothy Geithner introduces his plan to subsidize the purchase of toxic assets with government guarantees.

Senator Sanders and when Secretary Clinton were involved with the power of the USA during this time they know what went on. These movements in the financial sector took place nearly invisible to the American public until of course they started to lose their jobs, their homes and their retirement savings. 

The Democrats were not necessarily initiating the legislation that brought down the country in 2008, but, there wasn't much of a fight. Less indulgence of Wall Street took place under Democratic majorities in the legislature. That is a fact. But, what is it with the Bushs. Forty-one oversees the bailout of his son along with the rest of the S&Ls, then 43 bails out the corrupted investment banks at the cost of a global economic collapse that is just about ready to happen again.

Don't you find it odd. Odd, that Wall Street is portraying instability, with China quaking in the balance at the time when 2016 elections are occurring and oops, here comes another Bush. ?????????????????????

As America weathers (click here) the most severe financial crisis since the Great Depression, a singular debate pervades the country – what went wrong? Was it greed or negligence, or some combination of both? Was there too much regulation or too little? Clearly, the system of regulations and incentives in place did not produce optimal results. Can a similar catastrophe be prevented in the future? This paper outlines the major regulatory changes over the last three decades that created the context in which the crisis occurred....
February 6, 2016
Reporting by Yimou Lee
Editing by Mark Bendeich
A Taiwan quake (click here) toppled a 17-storey apartment building in southern Tainan city on Saturday, and crews had so far rescued 123 people from the wreckage, a fire brigade official said.
There were no immediate reports of deaths from the 6.4 magnitude tremor, which struck before dawn.
"There are 60 households in that building," said Tainan City Government Fire Bureau information officer Lee Po Min, estimating that there might be about 240 people living there.

It reached Hong Kong.


  1. 2016-02-05 19:57:27 (UTC)
  2. 2016-02-05 14:57:27 (UTC-05:00) in your time zone

  3. Nearby Cities
  4. 28km (17mi) NE of Pingtung, Taiwan
  5. 35km (22mi) SE of Yujing, Taiwan
  6. 46km (29mi) NE of Kaohsiung, Taiwan
  7. 48km (30mi) ESE of Tainan, Taiwan
  8. 672km (418mi) E of Hong Kong, Hong Kong

Tom Ridge is stumping for JEB! 

It is "W" all over again.

JEB!'s mother says he is the nicest man in the world. Nice guys finish last.

Who are they trying to kid?

A cat has nine lives, this must be number eight.

What is it that every time a Bush says "Jump" everyone else says, "How high?" It is incredible to watch these people simply not accept the public's decision. 

They won't accept the fact American doesn't want another stamped out of the same mold. I call it arrogance. What else could it be? JEB! can't stand on his own so everyone has to rescue him. That same thing happened in "W"'s administration.

Look, JEB! was at a gathering in New Hampshire with no one else in the room and he said, "It is good to be here among all of you quirky people." He called the people of New Hampshire quirky. Get for real.

When a man running for President of the USA starts passing judgement on people calling them quirky, it means he has no temperament for the presidency. The American people aren't quirky, they don't want him. He doesn't have the temperament or humility for the Oval Office.
What made them grab a camera? Noise, some kind of warning?

Russia is acting inappropriately with Turkey.

Turkey is NATO. Russia needs to discuss problems with NATO so it is clear there will be no problems.

The USA needs more of a presence in Turkey. Turkey only bombs it's borders or shoots down planes, they never enter into ground wars with the Kurds. NATO has to have a stronger presence in Turkey simply because it is unable to display military competence in the region. Turkey is exasperating the problems in the region and is not at all helpful.

NATO needs to carry the strategy with Turkey so this incompetence ends!

Russia has successfully carried out initiatives near and around Aleppo. It is a good thing. Daesh has to be defeated before any coalition government can be convened.

The people are safe. That is important. They are safe and it does not matter who brought about that reality. 

Turkey is NOT to disrupt these efforts and cause the deaths of innocent people. They will have to accept the battle the Kurds are waging in Iraq as well. Turkey has been completely incompetent in recognizing new problems and adjusting to them. NATO needs to have a stronger presence in Turkey to end the mess they are creating.

Russia can take it's information to the United Nations Security Council and the Arab Coalition regarding Turkey.

Residents of Nubul and al-Zahraa, along with forces loyal to Syria"s President Bashar al-Assad, celebrate after the siege of their towns was broken, northern Aleppo countryside, Syria, in this handout picture provided by SANA on February 4, 2016

February 5, 2016

Beirut/ Moscow/ London - Russia said on Thursday it suspected Turkey was preparing a military incursion into Syria, as a Syrian army source said Aleppo would soon be encircled by government forces with Russian air support.
Turkey in turn accused Moscow of trying to divert attention from its own “crimes” in Syria, and said Aleppo was threatened with a “siege of starvation”. It said Turkey had the right to take any measures to protect its security.
In another sign of the spreading international ramifications of the five-year-old Syrian war, Saudi Arabia said it was ready to participate in ground operations against Islamic State in Syria if the US-led alliance decided to launch them.

The United States welcomed the Saudi offer, which together with any Turkish incursion would further embroil regional powers in a conflict that pitches Sunni-backed fighters against Damascus and forces backed by Moscow and Shi'a Iran....


Is the Columbia peace process monitored by the United Nations? How much did the USA benefit from the Columbia Free Trade Agreement and still need padding for it's treasury?

5 February 2016
By Natalio Cosoy

President Barack Obama (click here) has said he will ask the US Congress for $450m (£309m) in aid to help Colombia implement a peace deal with the Farc rebel group.
The proposed funding will also support de-mining, humanitarian and counter-narcotics projects, he said.
The aid was announced after President Obama held talks at the White House with his Colombian counterpart, Juan Manuel Santos.
He told Mr Santos the US would be "your partner in waging peace".
It was "an incredible moment of promise" for ending the long-running conflict in Colombia, he said.
The new plan is called Peace Colombia, but the fact is that even if a final agreement to end 50 years of internal conflict with the Farc is achieved - which looks extremely likely - the negotiations with the second largest rebel group in the country, the ELN, seem stalled....

These monies should be applied wisely. The monies should not be a slush fund for the Columbian President and his party and ambitions. If that is an insult that is too bad. There is plenty to be skeptical of in Columbia. 

Fifty years is a very long time for a powerful drug cartel to exist. The PEOPLE of Columbia need jobs and a change in direction of the economy. Those monies should not go directly to the Columbian government unless there is a palpable change in the quality of life of the people FIRST.

What is so curious about this visit is the fact The Columbian Free Trade agreement is in force. (click here) It was demanded as an agenda by Senator Rubio as his first major project after his Senate election. Why is there any need for supplementing Columbia's economy if the free trade agreement was worth passing in the US Congress?

The American people EXPECT their sacrifice of losing jobs, economic stability (the banks and Wall Street are claiming hardship today) and uncertain futures for American young people will actually solve problems in the global community.
Padding the Columbian treasury is not proof there is anything worthwhile in the Columbian Free Trade Agreement. Why do it in the first place?

So, let me see if I get this straight. The current demand of monies from the USA treasury is to help build infrastructure in Columbia. Columbia was never ready for the free trade agreement in the first place, right? Now, because, there is a willingness for Wall Street companies, such as Walmart, to build an economy in Columbia, it needs the infrastructure first. Why waste a good free trade agreement, right?

Why does Columbia have a seemingly high unemployment rate? (click here)

Good question, but the answer is quite complex. Many forces influenced the unemployment rate and most of them are not even caused the last years, but, are consequences of the labor laws, economic policies, and social changes of the last decades.

First of all, I suppose the 10.4% rate you quoted is the current world's bank last reported yearly rate from 2012. (Unemployment, total (% of total labor force) (modeled ILO estimate) To include more recent data, the official unemployment rate for September 2014 was 8.9% (+/- 2.9%) and it's observed behavior is a steady reduction since 2010 (

Perhaps the monies to Columbia is for the food stamps and Medicaid the Columbian people will need working for Walmart and Wall Street companies, right? Humanitarian assistance. Right?

Or is it the military that Columbia is interested in? There goes the wars a little north of Columbia in Guatemala, El Salvador and Honduras. FARC will be sold any arms coming into Columbia because they pay so well with drug/blood money. 

More loose small arms, more migration out of those countries, more children at the USA borders and the endless instability of the region south of the USA border. The United Nations needs to monitor monies entering Columbia from the USA to report it's use and the potential to cause more deaths of children and their parents.

FARC won't negotiate until after the monies arrive and are spent so they can get their share before they have to dangle another carrot of a peace agreement for more infusion of monies from the USA.