Terrorism should be defeated with love...and superior firepower...- Terry Ingle
"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness." --Declaration of Independence, July 4, 1776

"Socialism is precisely the religion that must overwhelm Christianity. … In the new order, Socialism will triumph by first capturing the culture via infiltration of schools, universities, churches and the media by transforming the consciousness of society." Antonio Gramsci - Marxist - teacher of Saul Alinsky

28 February, 2009

I hope you have been enlightened by the quotes that I have been inserting into the blog these last few days. I will be putting them in often to remind us from whence we came. I will also include a picture of each one of our founding fathers who said those things to remind you that they were just men like us. They came from all walks of life, farmers, shoemakers, teachers, builders, bankers... They were husbands, fathers, and sons just like we are. Ordinary people who took up the cause of freedom, many of them loosing everything...including their lives.

They understood that Government was not to be in charge of people's health care, welfare, retirement, vocations, success, happiness, religion, family planning, financial investments, advanced education, and many other areas of out lives that it has now taken over. Our Founders knew that all we needed was the freedom to invent and invest and WE THE PEOPLE could and would make it happen.

Over the past weeks there has been a call for another Revolution. I saw on TV last night that in cities all across America people are marching and demanding that the government say out of our wallets and let us live. I was encouraged as I saw men women and children marching and shouting at BO and his henchmen. It's a shame that it has taken an all out crisis like we have in Washington right now to get us off our butts and take action.

I heard again last nite BO was reminding people that this is a mess he inherited. I am really getting tired of listening to that over and over. Does he want us to feel sorry for him??? Let me just say to BO that YOU were the one that wanted this job, YOU were the one that knew what you were getting into when you took it, YOU were the one that boasted that you could fix it, and YOU are the one that in just a few short weeks has ADDED to it! On top of that, YOU were part of the liberal Congress of the past 8 years that helped to CAUSE it!!!!

Thomas Paine wrote:
"[G]overnment, even in its best state, is but a necessary evil; in its worst state an intolerable one."

How true, how true...

"Liberty must at all hazards be supported. We have a right to it, derived from our Maker. But if we had not, our fathers have earned and bought it for us, at the expense of their ease, their estates, their pleasure, and their blood." --John Adams

Let us NEVER forget that...

26 February, 2009

"Before a standing army can rule, the people must be disarmed; as they are in almost every kingdom of Europe. The supreme power in America cannot enforce unjust laws by the sword; because the whole body of the people are armed, and constitute a force superior to any band of regular troops that can be, on any pretence, raised in the United States."

--Noah Webster, An Examination of the Leading Principles of the Federal Constitution, 10 October 1787

25 February, 2009

"Guard with jealous attention the public liberty. Suspect every one who approaches that jewel. Unfortunately, nothing will preserve it but downright force. Whenever you give up that force, you are inevitably ruined."

--Patrick Henry, speech in the Virginia Ratifying Convention, 5 June 1778

24 February, 2009

Check this out...

I heard about this on the radio today and came home and looked it up. This is an article from the New York Times back in 1999 explaining how Fannie and Freddie worked.
I'm sick to death of the liberal media blaming the Bush administration for this mess we are in when it actually was started by Clinton.
As you can see the banking industry was just as bad because they knew they could make these risky loans and make money by selling them to the government.
The article is a bit lengthy, but I included it in it's entirety so you could get the full picture about how the government gambles with OUR money, then makes US bail them out.

Fannie Mae Eases Credit To Aid Mortgage Lending
Published: September 30, 1999

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

The action, which will begin as a pilot program involving 24 banks in extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. 15 markets -- including the New York metropolitan region -- will encourage those banks to Fannie Mae officials say they hope to make it a nationwide program by next spring.

Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.

''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''

Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market.

In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.

''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''

Under Fannie Mae's pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 -- a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped.

Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.

Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic whites.

Home ownership has, in fact, exploded among minorities during the economic boom of the 1990's. The number of mortgages extended to Hispanic applicants jumped by 87.2 per cent from 1993 to 1998, according to Harvard University's Joint Center for Housing Studies. During that same period the number of African Americans who got mortgages to buy a home increased by 71.9 per cent and the number of Asian Americans by 46.3 per cent.

In contrast, the number of non-Hispanic whites who received loans for homes increased by 31.2 per cent.

Despite these gains, home ownership rates for minorities continue to lag behind non-Hispanic whites, in part because blacks and Hispanics in particular tend to have on average worse credit ratings.

In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups.

The change in policy also comes at the same time that HUD is investigating allegations of racial discrimination in the automated underwriting systems used by Fannie Mae and Freddie Mac to determine the credit-worthiness of credit applicants.