Mortgage Bail Out of 2008
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On this Page:

09-30-2008: The Mortgage Bail Out of 2008?

10-01-2008: The Senate will vote today!

03-27-2009: Jim Attrell compiles different video clips concerning the Fannie Mae Disaster.

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09-30-2008:  The Mortgage Bail Out of 2008? 

     So it occurs to me that in the last few years there were all these people talking up the housing market.  There were scams that I would hear on the radio about "Flipping houses by buying and selling them for a profit" OR "Learn how to make millions of dollars in the real estate market without spending any of your money".
     It really was a bunch of people getting greedy and buying these houses to make a profit or get more than they can afford.  YES,  I know... Not everyone falls in these categories.  Yes, I know, there are people that got loans that could not pay them due to a lost job or some tragedy - IT HAPPENS EVERY DAY!  I do not think that the majority are people down on their luck like the like the crooks (who are making the money) want you to believe.   It's not my fault that so many people can't pay their bills.  I would venture an educated guess that most invested (to flip a house or buy a home) to gain some sort of profit.  Or maybe put their money in the Stock Market which is not guaranteed income.

     Then I get asked, "John, what about all those people and their retirements?"  My answer is simple, Those people who ripped off the investors should be imprisoned and all their money confiscated!  Then on the other hand, the stock market is a gamble isn't it?  It is not a guaranteed thing and never has been.  If they want to invest in a HIGH RISK stock to gain a large return, then it is their RISK.  The Stock market is a gamble because it is not guaranteed.

     So the question arises... Do you think that we tax payers should pay for this bail out?  I do not think think so!  This is America where you have the freedom to succeed or fail.  I hear rhetoric about some people that did this on purpose to steal money to get ahead (thinking Enron).  If this is so, then these people should go to jail.

     Now these politicians want to bail out these large corporations which are led by those with big paychecks - they are getting money and the company is failing.  Do these politicians have an investment in these failing companies?  With Fannie Mae and Freddie Mac being some of the biggest portion of the bail out, it is a wonder that the citizens do not storm Washington. (Get your torches and your pitchforks ready - we villagers may have to get restless.)   There are a few politicians that have received donations from Fannie Mae / Freddie Mac and the top four are: 1. Dodd 2. Kerry 3. Obama 4. Clinton.  I figure it was their fund raising money.

     So the money to bail out... $700 Billion (that's $700,000,000,000.00).  If you divide this up amongst all the Citizens of this Country over the age of 18 (about 227,713,184 people - 2007 census), then that is $3,074.04 per adult averaged out among those who pay a lot more.  Double that at $6,148.08 for a married couple.  I do not want to give that up do you?  Do you understand?  That is $3,074.04 per adult (or $6,148.08 per couple/family) of tax money.  Not TO us citizens but FROM us citizens.

     Even though it failed the House of Representatives, the Senate is scheduled to take up debate on the $700 billion bail out on Wednesday.  Article 1, Section 7 of the Constitution states: "All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills."

     Keep the pressure on! Call your your elected officials and make it clear that we want no part of any financial bail out for Wall street!

That's the way I see it - John Gorena.

10-01-2008: The Senate will vote today!  (the following is taken from and modified a little):

     After powerful public backlash brought the $700 billion bailout crashing to the House floor, Senate leadership picked up the banner and will vote on the bill tonight (Oct. 1). Don't be fooled. At its core, this is the same $700 billion bailout bill--only bigger.
     What started out as a 3-page bill by Treasury Secretary Henry Paulson, grew to 110-pages in the House, to 400-plus pages in the Senate. In fact, the Senate's new "colossal" version of the bailout bill includes a package of tax earmarks, including goodies for Hollywood, Alaska and auto racing tracks!
     Nothing has changed from the House bill, and passage would usher us to the doorstep of socialism!
     I'm urging ALL to take IMMEDIATE ACTION against Senate leadership
right up to the vote this evening demanding they stop the madness--seeking instead free- market solutions!

  • Here's what we all need to do today is CALL and FAX your Elected Officials:

    • Action Item #1--Contact your Senators
      Urge them to cast a "NO" vote for the $700 billion bailout.  Demand they work to adopt a fiscally responsible rescue plan anchored in a market-based approach free from the non-stop fear mongering coming from Wall Street and Capitol Hill!

    • Action Item #2--Fax Key Members of the House and Senate

The action we take over these next hours may well determine the fate of our nation. Please take a stand against the Senate’s $700 billion bailout. Take a stand against a socialist solution, and take action to secure our nation by calling and faxing today!

P.S. After making your calls and scheduling your faxes, continue alerting your friends and family throughout the day to follow your lead. This is a critical time, and we need as many citizens as possible taking action!

03-29-2009:  Jim Attrell compiles different video clips concerning the Fannie Mae Disaster. Jim writes, "It took several weeks to prepare and lots of research on my part but finally, it is complete.  My "youtube" video compilation makes it clear just who was responsible for the Fannie Mae Disaster.  I found the Bill Clinton video clip to be particularly incriminating evidence. Please share this with your children or other youth that you know so that they may know why their future taxes will be enormous unless they get involved with the political process and take back our country before it is to late. - Jim Attrell"


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