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Jimmy Carter’s Legacy: Part IV, Community Reinvestment Act

by Flyovercountry ( 136 Comments › )
Filed under Economy, Politics, Regulation at May 18th, 2012 - 8:00 am


Many of life’s lessons are capable of imparting more than one pearl of wisdom. The brightest and best among us are capable of learning not only from their own mistakes, but from those so thoughtfully provided by others as well. Enron provides one such example of this in action. Two years before Enron exploded, the company fired her accountants, Arthur Anderson, and hired a rival firm, Anderson Little. The reason given to Arthur Anderson and the shareholders of Enron was that the accounting giant, “did not possess the creative thinking and vision that management was seeking to push their company to the next level.” This red flag, which was the response to Arthur Anderson’s refusal to publish the corporate report produced by Enron without the disclaimer’s Arthur Anderson demanded as an accompaniment to their signature was ignored by Anderson Little, who signed off without demanding a similar disclosure. Anderson Little won that particular piece of accounting business, and now there are 7 major accounting firms instead of 8. The other lesson Enron provided, as most of their employees had 90% or more of their 401k’s in Enron Stock, was that your financial advisers are probably right when they jump up and down and scream about diversification. (As a side note, if anybody reading this has more than 5% of their 401k in their company’s stock, change it immediately, you are playing Russian roulette with your retirement.) Another pearl of wisdom provided by the Enron example is that governments will misidentify the reasons for a problem developing, and then propose and implement solutions that will do almost the exact opposite of what they promise as the over reaching solutions. We got Sarbanes Oxley as a result of Enron, a broad reaching law that made committing a crime extra double illegal and created a new level of compliance for publicly traded companies designed to prevent nothing. It costs U.S. consumers Billions though, each and every year.

As the Berenstain Bears would say, the Community Reinvestment Act provides several great examples of what not to do. One day in 1977, the weekly long CBS propaganda broadcast, 60 Minutes, aired a piece detailing how Black and White patrons seeking home loans were treated differently and shown houses of differing values and in different neighborhoods. While the network news team came up woefully short in presenting actual evidence to back up their claims, they were able to provide ample snippets of situations designed to invoke an emotional response. it did not take long for Congress or our President to react either. This is where our current economic crisis was born.

The original act passed in 1977 gave the government permission to intrude itself upon the risk committees of companies who made their living by lending money to people who wished to purchase houses. That intrusion manifested itself as a panel of politically appointed bureaucrats with zero real world experience in lending money or analyzing risk telling people facing actual consequences what aspects to risk taking that they must legally now ignore and what they were now allowed to consider.

In 1989, the law was amended to now dictate that special interest advocacy groups could demand non public records from financial institutions in order to perform their own quantitative analysis which would compete with the banks existing risk committees. Those special interest advocacy groups were then allowed to publish their opinions in a very broad manner as to how they rated the performance of the institutions based on what ever their particular interests may be.

In 1991, the law was amended, as per the schedule established with the 1989 amendment to now have a government agency rate an institution’s performance as well, based on the data collected not by themselves, but by the special interest groups mentioned before. It also introduced monetary incentives to banks for approved behaviors in the form of tax credits for meeting the criteria of the concerned advocacy groups.

The 1992 Amendment saw the introduction of special tax rebates going to banks with a qualified percentage of minority and or female ownership. It also introduced Fannie Mae and Freddie Mac being directed to purchase mortgages from banks made to low income households and in qualified neighborhoods, presumably in areas considered to be decaying urban areas.

In 1994, we decided that the prohibition against banks being allowed to cross state lines was in order, but only for those institutions that were approved by the CRA board. Advocacy groups were solicited for their input into this activity, and thus even more pressure was brought to bear on activity which further disregarded internal risk committees.

The 1995 changes saw the functional end to any internal risk assessment. This was the year that welfare receipts including the housing and food allotment became legal to use as proof of income. It was also the year that the government exerted pressure to decrease down payment standards. Regulators were also given the ability to use ethnic standards and comparisons of the number of total loans written in order to grade compliance with the act. In other words, a bank was now forced to write so many loans to Black customers and so many to Asian customers, etc. These numbers were considered irrespective of the number of applications taken.

1999 saw the end of the Glass Steagall Act. Banks were now fully capable of acting as broker dealers fully participating in selling securities. This is where mortgages were first pooled together, bundled and then sold as an investment product.

The 2005 changes to the law merely served to re clarify the special interest standards imposed by the 1995 changes. As the demographics of our nation changed, so did the quotas for the numbers of loans made to specific ethnic groups, whether a borrower would have existed or not.

The 2007 change to the law may be perhaps the most insane of all. Ethnic barriers were removed and replaced with the phrase low income. That’s right, banks were now being forced to loan large sums of money to people identified as not capable of paying it back, and were now legally obligated to make a specific number of such loans as dictated by their total asset value.

To add the cherry to the top of idiocy, in 2008 we decided that it would be a good idea to tie the number of student loans allowed to the CRA compliance.

For those of you keeping score at home, every addition to the act from 1995 onward legally mandated banks to loan money in a, “predatory,” manner.

So now you may ask, what does all of this mean?

The broader lessons we can take from this act are numerous. Social engineering of our capital markets do not work out well at all. Social engineering does not benefit our society. Equality of the rules governing our society as they apply to every citizen is a good thing, forcing an equality of results will end ultimately in disaster. More importantly, even the least talked about aspect of a President’s 4 year term in office can have a far reaching impact upon American life, and indeed world living standards 31 years after that President enacted his vision. Prior to the financial crisis, Jimmy Carter’s name invoked discussions on the energy crisis, Iran, stagflation, the Misery Index, rampant unemployment experienced during the 70′s, but almost no one saw this one act as the disaster that it would become. Republicans talked of a need to reign in Fannie and Freddie during the earliest part of the Bush 43 years, but this particular act was not only left alone, but actually bolstered during that time frame.

One of the other lessons here is how hard it is to repeal a bad law. Even after the crisis became the crisis it is, and even after its causes became well known to anyone paying attention, CRA is still the law of the land today. Fannie and Freddie were left out completely from any consideration of the Dodd Frank Law, which was supposedly passed as the response to the crisis. The answer of our banks of course to the continuing prospect of the mandates that say, if you lend money to anyone, you must lend also to people who will not be able to pay you back, is to simply not lend any money. Who can blame them?

Cross Posted at Musings of a Mad Conservative.

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136 Responses to “Jimmy Carter’s Legacy: Part IV, Community Reinvestment Act”
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  1. Bumr50
    1 | May 18, 2012 8:05 am

    Who can blame them?

    LOTS of people, incredibly.


  2. mawskrat
    2 | May 18, 2012 8:10 am

    I blame it on the black hole we live in


  3. 3 | May 18, 2012 8:17 am

    We’re purposefully removing the profit motive from capitalism as one would hollow-out a pumpkin and wondering what we can’t make pie from the jack-o-lantern.


  4. 4 | May 18, 2012 8:20 am

    mawskrat wrote:

    I blame it on the black hole we live in

    That explains a lot; I’ve felt like I’m living in a black hole for some time now. It’s getting weird in here.


  5. 5 | May 18, 2012 8:27 am

    @ MacDuff:

    Even more destructive than that, we are removing the penalty of loss for those entities deemed too big to fail. J.P. Morgan Chase feels indemnified to take idiotic risks with its capital, because they know that after all of the hand wringing and name calling, they will be awarded $2 Billion of tax payers money, plus the extra prize of your community bank operating down the street.


  6. mawskrat
    6 | May 18, 2012 8:30 am

    IIRC,,,,3wood was saying the real estate
    market was going to collapse a long time
    before it happened.

    3wood used to post at the other place


  7. citizen_q
    7 | May 18, 2012 8:32 am

    @ mawskrat:
    Interesting read.


  8. Speranza
    8 | May 18, 2012 8:32 am

    Barack Obama is going to make Jimmy Carter -- one of the more execrable POTUS’s we ever had -- seem like a combination of Teddy Roosevelt/Grover Cleveland.


  9. citizen_q
    9 | May 18, 2012 8:32 am

    Flyover, another very good post, thank you.


  10. 10 | May 18, 2012 8:39 am

    One of the sly messages in the illustration is that it’s a take-off on the “Dubble Bubble” logo, for those younguns who don’t remember it…….


  11. Guggi
    11 | May 18, 2012 8:41 am

    The mafia-like WWF is calling for Western poverty, oh sorry, it’s calling for worldwide poverty:

    Extremist green campaigning group WWF -- endorsed by no less a body than the European Space Agency -- has stated that economic growth should be abandoned, that citizens of the world’s wealthy nations should prepare for poverty and that all the human race’s energy should be produced as renewable electricity within 38 years from now. Most astonishingly of all, the green hardliners demand that the enormous numbers of wind farms, tidal barriers and solar power plants required under their plans should somehow be built while at the same time severely rationing supplies of concrete, steel, copper and glass.

    (…)

    It’s not just resources that are limited, in the WWF’s view: human potential itself is up against a hard limit beyond which the race cannot ever advance. Even progress thus far, as seen in the wealthy nations, has been achieved only by an unfair and wasteful over-use of precious resources: we rich Westerners are already beyond the practical limits that humans should ever aspire to achieve in terms of health, wealth -- and even of education. That’s not economics -- that’s religion. And not very nice religion either.


  12. Guggi
    12 | May 18, 2012 8:43 am

    And this is what you have to expect if people belief in the Malthusian scam:

    Leading members of prominent Indian NGOs have slammed the UK government’s “racism” in directing “tens of millions of pounds” to sterilise India’s poor in what they say is a misguided attempt to combat global warming. A news report on RT Today visited India and spoke to local police who told them that they had raided the offices of local aid agencies and confiscated videos showing the horrific mistreatment of women. In an interview Dr Abhisit Das, Director of the Centre for Health and Social Justice, said the whole program stank of the old imperialist mindset of “colonialism” and “racism” where the poor were blamed for the excesses of the wealthy.


  13. 13 | May 18, 2012 8:45 am

    @ Guggi:

    There was a time when these people would be muttering to themselves on street corners….


  14. Bumr50
    14 | May 18, 2012 8:49 am

    @ Guggi:

    Was the WWF always so ideologically driven?


  15. Guggi
    15 | May 18, 2012 8:49 am

    MacDuff wrote:

    @ Guggi:
    There was a time when these people would be muttering to themselves on street corners….

    There should be a time where they face the death penalty and I’m not joking.


  16. citizen_q
    16 | May 18, 2012 8:52 am

    Guggi wrote:

    we rich Westerners are already beyond the practical limits that humans should ever aspire to achieve in terms of health, wealth – and even of education. That’s not economics – that’s religion. And not very nice religion either.

    Sounds like a variant of islam. Did they not rule similarly in the middle ages that all that the knowledge that should known is. That is one of the reasons for its stagnation.

    @ Guggi:

    Tying in with your previous post, isn’t that the green plan? To achieve their desired results they will have to massively depopulate the planet of humans in a ecologically sound way of course, and to force the majority surviving humans into subsistence hunter gather societies their purges. The attitude shows in the reverence they show for so-called noble savages.


  17. citizen_q
    17 | May 18, 2012 8:54 am

    Guggi wrote:

    MacDuff wrote:
    @ Guggi:
    There was a time when these people would be muttering to themselves on street corners….
    There should be a time where they face the death penalty and I’m not joking.

    The golden rule, do unto others before they do unto you.


  18. Guggi
    18 | May 18, 2012 8:56 am

    @ citizen_q:

    Yep and yep.


  19. Bumr50
    19 | May 18, 2012 9:00 am

    The German public television ARD aired a documentary on 22 June 2011, allegedly showing how the WWF cooperates with corporations such as Monsanto, providing sustainability certification in exchange for donations (a form of greenwashing).[29] WWF has rejected the allegations as factually wrong misrepresentations -- it is not in “a partnership” with Monsanto and sustainability certification for commodities (not companies) requires independent assessment against social and environmental sustainability criteria drawn up by multi-stakeholder round tables.[30]


  20. 20 | May 18, 2012 9:03 am

    Bumr50 wrote:

    The German public television ARD aired a documentary on 22 June 2011, allegedly showing how the WWF cooperates with corporations such as Monsanto, providing sustainability certification in exchange for donations (a form of greenwashing).[29] WWF has rejected the allegations as factually wrong misrepresentations – it is not in “a partnership” with Monsanto and sustainability certification for commodities (not companies) requires independent assessment against social and environmental sustainability criteria drawn up by multi-stakeholder round tables.[30]

    Translation: Corporate Blackmail.


  21. Canoe Convoy
    21 | May 18, 2012 9:05 am

    This is one post that deserves to be shouted from the hilltops — The best intentions have been shown to cause economic severe distress. People talk about the bankers? It was the regulators all along.


  22. 22 | May 18, 2012 9:05 am

    @ Guggi:

    Equality of poverty is the promise of Socialism. It always has been. From each according to his measure means you have the right to be worked to death, and to each according to his needs means you get potato soup at the end of the day, you live in a shack barracks with all the other proles, etc. The mansions and private jets are reserved to the Elites, every bit as much as they are in a capitalist society, but under socialism there is no hope of upward mobility. And there is no broad middle class. Crushing poverty is the norm, as Greece is beginning to find out.


  23. 23 | May 18, 2012 9:05 am

    Guggi wrote:

    There should be a time where they face the death penalty and I’m not joking.

    So, why do you want to kill defenseless koalas? What a monster you are! :D


  24. Guggi
    24 | May 18, 2012 9:12 am

    @ Bumr50:

    You can watch it here: Das Geschäft mit dem Panda (business with the panda)


  25. citizen_q
    25 | May 18, 2012 9:12 am

    MacDuff wrote:

    Translation: Corporate Blackmail.

    Is there some sort of trade school the jesse jackson, al sharptons, and WWF train at? They use the same tactics, and display the same hypocrisy.


  26. 26 | May 18, 2012 9:13 am

    Hmm, scapegoating Jews and bankers during financial chaos seems a familiar strategy. I can’t quite put my finger on it, but I’m sure it’ll come to me………


  27. 27 | May 18, 2012 9:13 am

    @ Iron Fist:

    Venezuela is a good example.


  28. 28 | May 18, 2012 9:15 am

    @ Guggi:

    Sterilizing people deemed inferior. Gee, I wonder where I read about this before.


  29. 29 | May 18, 2012 9:19 am

    MacDuff wrote:

    Guggi wrote:

    There should be a time where they face the death penalty and I’m not joking.

    So, why do you want to kill defenseless koalas PANDAS? What a monster you are!

    Stupid mistake…..koalas taste like cough drops and pandas don’t. :|


  30. Guggi
    30 | May 18, 2012 9:20 am

    And btw.: Greenpeace is not a bit better.


  31. 31 | May 18, 2012 9:23 am

    Guggi wrote:

    And btw.: Greenpeace is not a bit better.

    They defined the term “eco-terrorist” and should be on the list just like members of al Qaeda.


  32. Guggi
    32 | May 18, 2012 9:24 am

    MacDuff wrote:

    koalas taste like cough drops and pandas don’t.

    Ahh, eucalyptus :-)


  33. lobo91
    33 | May 18, 2012 9:25 am

    Guggi wrote:

    And btw.: Greenpeace is not a bit better.

    Neither is HSUS.

    Those commercials they run with all the dogs and cats should be banned. They have nothing to do with animal shelters. Their main issue is getting hunting banned in the US.


  34. Bumr50
    34 | May 18, 2012 9:27 am

    @ lobo91:

    They are a shame.


  35. Bumr50
    35 | May 18, 2012 9:31 am

    @ lobo91:

    HumaneWatch is a good site.


  36. Guggi
    36 | May 18, 2012 9:34 am

    MacDuff wrote:

    They defined the term “eco-terrorist” and should be on the list just like members of al Qaeda.

    Yes they should. One of there business -- and they admit it more or less and can’t find anything wrong with it -- is racketeering.

    Let me explain: e.g. Walmart (they don’t it with Walmart, it’s only an example but they have done it with German supermarket chains): they tell them that they will run a campaign against the company and this will cost the company a lot of money and trust. But the company can solve the problem with supporting the monthly of the organization and boost the edition. Since the monthly has it’s own budget you’ll never find it out. They do this on a regular basis with all kind of companies and of course all kind of variations.


  37. lobo91
    37 | May 18, 2012 9:40 am

    @ Guggi:

    Sounds just like Jesse Jackson’s MO.

    And ACORN’s.


  38. citizen_q
    38 | May 18, 2012 9:41 am

    Guggi wrote:

    Yes they should. One of there business – and they admit it more or less and can’t find anything wrong with it – is racketeering.

    Like leftist (though enviornmentalists are tools of the left), many fool themselves that it’s ok when they do it because of their good intention. Others, the narcissistic sociopaths who are often the leaders have found their congregation of useful idiots.


  39. 39 | May 18, 2012 9:41 am

    lobo91 wrote:

    Guggi wrote:

    And btw.: Greenpeace is not a bit better.

    Neither is HSUS.

    Those commercials they run with all the dogs and cats should be banned. They have nothing to do with animal shelters. Their main issue is getting hunting banned in the US.

    When ads start pulling on my heartstrings, as the HSUS ads do, I become suspicious. That’s unfortunate because I have a deep relationship with animals and I abhor being played.


  40. citizen_q
    40 | May 18, 2012 9:42 am

    @ lobo91:
    LOL! GMTA! Did you see my number 25?


  41. lobo91
    41 | May 18, 2012 9:43 am

    @ MacDuff:

    Not many people are aware of that scam, unfortunately. They’ve been running those ads on Animal Planet for years.

    It’s a favorite topic of Cam Edwards on NRA News.


  42. lobo91
    42 | May 18, 2012 9:44 am

    @ citizen_q:

    No, but you’re right.

    And there actually is a school where they teach that stuff. It’s called the Midwest Academy.

    Guess who used to work with them?

    (Hint: They’re located in Illinois)


  43. Guggi
    43 | May 18, 2012 9:46 am

    lobo91 wrote:

    @ Guggi:
    Sounds just like Jesse Jackson’s MO.
    And ACORN’s.

    Yep and they are as criminals as those from ACORN.


  44. 44 | May 18, 2012 9:47 am

    lobo91 wrote:

    @ MacDuff:

    Not many people are aware of that scam, unfortunately. They’ve been running those ads on Animal Planet for years.

    It’s a favorite topic of Cam Edwards on NRA News.

    Perhaps employees and financial supporters of HSUS should be “spayed and neutered”? :o


  45. citizen_q
    45 | May 18, 2012 9:49 am

    lobo91 wrote:

    Guess who used to work with them?

    (Hint: They’re located in Illinois)

    bill ayers, and or dorn?


  46. 46 | May 18, 2012 9:50 am

    @ MacDuff:

    I love animals, and despise the way the Leftist “Humane” Society, PETA (who kills 95% of the animals they take in) and others play on our love of animals to enrich themselves. It is fraud, really, but of course Holder’s JustUs Department wouldn’t be interested in investigating them


  47. citizen_q
    47 | May 18, 2012 9:50 am

    @ citizen_q:
    Perhaps the bamster himself?


  48. lobo91
    48 | May 18, 2012 9:51 am

    @ citizen_q:

    You’re thinking too small.


  49. lobo91
    49 | May 18, 2012 9:51 am

    @ citizen_q:

    Yup


  50. Guggi
    50 | May 18, 2012 9:54 am

    citizen_q wrote:

    Like leftist (though enviornmentalists are tools of the left), many fool themselves that it’s ok when they do it because of their good intention. Others, the narcissistic sociopaths who are often the leaders have found their congregation of useful idiots.

    There is another ugly and disturbing component in this: they make or influence politics but don’t have to bear the consequences and no one voted for them. Ok there are a lot of lobby-groups out there from the industry etc. but a) they provide jobs and b) you know them. But Greenpeace, WWF and the like are literally some kind of secret societies and while coporate groups are always seen as bad and evil those NGOs are seen as good and holy.


  51. citizen_q
    51 | May 18, 2012 9:56 am

    @ lobo91:
    Not surprising. He worked for acorn, and supported farakhan. I think he help organize the million man march.

    We had a discussion last evening revolving a lot around the Natural Born Citizen requirement in the aftermath of obama’s own literary agent promoting obama as having been born in kenya.

    There are so many many other issues that should disqualify obama if not legally, then by common sense from the office of POTOUS.


  52. lobo91
    52 | May 18, 2012 9:56 am

    @ Guggi:

    Another trick most people don’t know about here in the US is when the government actually gives environmental groups money to use to sue the government.


  53. 53 | May 18, 2012 9:58 am

    lobo91 wrote:

    @ citizen_q:

    You’re thinking too small.

    It’s all a network; formal or just ideological, it doesn’t matter. They all have essentially the same goals and employ identical tactics. It’s the medusa and, IMHO, partisanship and polarization is the only weapon we have.


  54. lobo91
    54 | May 18, 2012 9:58 am

    @ citizen_q:

    There are so many many other issues that should disqualify obama if not legally, then by common sense from the office of POTOUS.

    Unfortunately, the founders neglected to include a “must not hate America” requirement in the Constitution.

    They probably figured that would sort itself out on its own…


  55. citizen_q
    55 | May 18, 2012 10:01 am

    Guggi wrote:

    they make or influence politics but don’t have to bear the consequences

    Sort of like your run of the liberal democrat (but I repeat myself)


  56. 56 | May 18, 2012 10:01 am

    lobo91 wrote:

    @ Guggi:
    Another trick most people don’t know about here in the US is when the government actually gives environmental groups money to use to sue the government.

    Many of these NGOs get Federal money through grants. This needs to stop.


  57. 57 | May 18, 2012 10:02 am

    lobo91 wrote:

    Unfortunately, the founders neglected to include a “must not hate America” requirement in the Constitution.

    They probably figured that would sort itself out on its own…

    They didn’t foresee international socialism; I guess that’s our dragon to slay.


  58. 58 | May 18, 2012 10:03 am

    @ lobo91:

    They probably figured that would sort itself out on its own…

    To borrow a phrase from Dorian, They expected Hemp Rope would solve it!


  59. Guggi
    59 | May 18, 2012 10:04 am

    lobo91 wrote:

    @ Guggi:
    Another trick most people don’t know about here in the US is when the government actually gives environmental groups money to use to sue the government.

    In Europe too. Funny that they still call themselves “non-governmental-organizations”


  60. RIX
    60 | May 18, 2012 10:10 am

    There is going to be an Air Force flyover in Chicgo
    today for the benrfit of the NATO attendees.
    Will that be considered a hate crime aginst the
    yoots protesting?


  61. 61 | May 18, 2012 10:11 am

    Guggi wrote:

    In Europe too. Funny that they still call themselves “non-governmental-organizations”

    it’s like screwing your sister and calling it genetic diversity.


  62. 62 | May 18, 2012 10:14 am

    RIX wrote:

    There is going to be an Air Force flyover in Chicgo
    today for the benrfit of the NATO attendees.
    Will that be considered a hate crime aginst the
    yoots protesting?

    Maybe a couple dozen Apaches in low level formation.


  63. RIX
    63 | May 18, 2012 10:18 am

    @ MacDuff:

    Maybe a couple dozen Apaches in low level formation

    The clown brigade would return fire with banana cream
    pies.


  64. coldwarrior
    64 | May 18, 2012 10:19 am

    Two years before Enron exploded, the company fired her accountants, Arthur Anderson, and hired a rival firm, Anderson Little. The reason given to Arthur Anderson and the shareholders of Enron was that the accounting giant, “did not possess the creative thinking and vision that management was seeking to push their company to the next level.” This red flag, which was the response to Arthur Anderson’s refusal to publish the corporate report produced by Enron without the disclaimer’s Arthur Anderson demanded as an accompaniment to their signature was ignored by Anderson Little, who signed off without demanding a similar disclosure. Anderson Little won that particular piece of accounting business, and now there are 7 major accounting firms instead of 8.

    i remember when enron fired anderson, i almost fell off of my chair.

    you dont ‘fire’ AA, it would be like firing KPMG…just not done.


  65. coldwarrior
    65 | May 18, 2012 10:20 am

    @ RIX:

    i want to be in chicago this weekend for the sox -- cubs series.

    :(


  66. RIX
    66 | May 18, 2012 10:20 am

    Obama plans to attend the Sox/Cubs game at Wrigley tomorrow night.
    What is the over & under that BHO will be booed?


  67. coldwarrior
    67 | May 18, 2012 10:21 am

    bookmark flyover’s OP here.

    brilliant, well done.


  68. RIX
    68 | May 18, 2012 10:22 am

    coldwarrior wrote:

    @ RIX:
    i want to be in chicago this weekend for the sox – cubs series.

    I have been trying to get tickets. I have a chance
    for two for tomorrows gane.


  69. coldwarrior
    69 | May 18, 2012 10:22 am

    RIX wrote:

    Obama plans to attend the Sox/Cubs game at Wrigley tomorrow night.
    What is the over & under that BHO will be booed?

    lemme find out.

    *calls a certain someone*


  70. 70 | May 18, 2012 10:22 am

    Just a random thought……

    Mark Zuckerberg strikes me as a cheap knockoff of Steve Jobs.


  71. coldwarrior
    71 | May 18, 2012 10:24 am

    RIX wrote:

    coldwarrior wrote:
    @ RIX:
    i want to be in chicago this weekend for the sox – cubs series.

    I have been trying to get tickets. I have a chance
    for two for tomorrows gane.

    i am so jealous.


  72. 72 | May 18, 2012 10:26 am

    RIX wrote:

    Obama plans to attend the Sox/Cubs game at Wrigley tomorrow night.
    What is the over & under that BHO will be booed?

    The best of Chicago meets the worst of Chicago; interesting juxtaposition.


  73. RIX
    73 | May 18, 2012 10:28 am

    @ coldwarrior:
    The tickets aren’t a lock.A guy with two might
    have to bail & then I will get them at face value.
    In all honesty, I don’t like my chances.


  74. coldwarrior
    74 | May 18, 2012 10:29 am

    coldwarrior wrote:

    RIX wrote:
    Obama plans to attend the Sox/Cubs game at Wrigley tomorrow night.
    What is the over & under that BHO will be booed?

    lemme find out.
    *calls a certain someone*

    i have no line on those odds.

    after he got boo’ed at fenway last month tho, i would say he is gonna get it in chi-town as well.


  75. coldwarrior
    75 | May 18, 2012 10:29 am

    RIX wrote:

    @ coldwarrior:
    The tickets aren’t a lock.A guy with two might
    have to bail & then I will get them at face value.
    In all honesty, I don’t like my chances.

    that is closer than i am going to get THIS YEAR.

    (might plan that trip for mrs coldwarrior and me next year)


  76. 76 | May 18, 2012 10:31 am

    @ MacDuff:

    \He’s a Marxist and supporter of the pharaoh.


  77. RIX
    77 | May 18, 2012 10:32 am

    @ MacDuff:

    The best of Chicago meets the worst of Chicago; interesting juxtaposition

    I don’t really consider BHO a Chicagoan. He came here as
    an outside agitator & fell in wuith the leftist University
    of Chicago community.
    He can’t name one White Sox player, living or dead & I
    bet that he has never had an Italian Beef Samich!


  78. 78 | May 18, 2012 10:33 am

    @ coldwarrior:

    I actually would go protest NATO. But not for the reasons these Marxists are. I would protest the fact that NATO has become an evil organization doing the bidding of the Muslim Brotherhood and the House of Saud. NATO are the new Janissaries.

    Hey ho ho, no more NATO wars for the House of Saud!

    That would be my chant.


  79. coldwarrior
    79 | May 18, 2012 10:33 am

    RIX wrote:

    Italian Beef Samich!

    oh please stop.

    its bad enough that i wont be at sox cubs, now youse gotta bring up the italian beef.

    torture is illegal in most civilized countries.


  80. 80 | May 18, 2012 10:33 am

    @ Rodan:

    Yeah, and ain’t in interesting how his partner skipped the country to dodge those confiscatory taxes their political philosophy advocates. Socialism for thee, but not for me could be the watchword of Facebook…


  81. coldwarrior
    81 | May 18, 2012 10:34 am

    Rodan wrote:

    @ coldwarrior:
    I actually would go protest NATO. But not for the reasons these Marxists are. I would protest the fact that NATO has become an evil organization doing the bidding of the Muslim Brotherhood and the House of Saud. NATO are the new Janissaries.
    Hey ho ho, no more NATO wars for teh House of Saud!
    That would be my chant.

    would anyone get the ‘teh’ part?

    :lol:


  82. 82 | May 18, 2012 10:34 am

    Rodan wrote:

    @ lobo91:
    They probably figured that would sort itself out on its own…
    To borrow a phrase from Dorian, They expected Hemp Rope would solve it!

    Stout Hemp Rope, and yes, that is exactly what they thought. Take a good careful look at the branches of this famous Liberty Tree picture from 1774


  83. 83 | May 18, 2012 10:35 am

    RIX wrote:

    I don’t really consider BHO a Chicagoan. He came here as
    an outside agitator & fell in wuith the leftist University
    of Chicago community.

    Kind of an exchange student of the Chicago Institute for Thug Politics? Yeah, I can see your point.


  84. 84 | May 18, 2012 10:35 am

    @ Iron Fist:

    That is exactly how the Tranzi Progressives view the world. They are a feudal elite and we are serfs. They advocate policies that don’t effect them.


  85. coldwarrior
    85 | May 18, 2012 10:35 am

    @ doriangrey:

    water boarding.


  86. 86 | May 18, 2012 10:36 am

    @ doriangrey:

    Stout Hemp Rope

    You have that stuck in my head.


  87. 87 | May 18, 2012 10:37 am

    RIX wrote:

    There is going to be an Air Force flyover in Chicgo
    today for the benrfit of the NATO attendees.
    Will that be considered a hate crime aginst the
    yoots protesting?

    Yea, but the planes will all be unarmed, so as not to threaten Obama…


  88. 88 | May 18, 2012 10:37 am

    @ coldwarrior:

    Its just so sad. NATO was a noble organization designed to stand up to Communist aggression. Now its become a tool for Islamic interest. It’s just really sad.


  89. coldwarrior
    89 | May 18, 2012 10:38 am

    Rodan wrote:

    @ Iron Fist:
    That is exactly how the Tranzi Progressives view the world. They are a feudal elite and we are serfs. They advocate policies that don’t effect them.

    huh?

    no the dude is leaving the country with his wealth because we are

    TAXED

    ENOUGH

    ALREADY

    he is making a decision based on economics. i have no problem with what he decided to do.


  90. 90 | May 18, 2012 10:38 am

    @ coldwarrior:

    They’d think you were part of teh Ebil Teh Party…


  91. 91 | May 18, 2012 10:40 am

    coldwarrior wrote:

    i have no problem with what he decided to do.

    I’d have no problem with it if he and his corporation weren’t some of the ones calling for the confiscatory tax rates to begin with. That is the source of my ire. If Facebook stood on the Right, and was calling for a Capital Gains tax cut, I’d have more sympathy for him.


  92. 92 | May 18, 2012 10:40 am

    Rodan wrote:

    @ doriangrey:
    Stout Hemp Rope
    You have that stuck in my head.

    Hey, I’m just sayin… If it was good enough for Saddam Hussein, it’s good enough for Barack Hussein… :twisted:


  93. coldwarrior
    93 | May 18, 2012 10:41 am

    Iron Fist wrote:

    @ coldwarrior:
    They’d think you were part of teh Ebil Teh Party…

    yep.

    oh look at this story….white racism…

    here we go!

    http://abcnews.go.com/US/militias-hate-groups-grow-response-minority-population-boom/story?id=16370136#.T7Zfe94xRqN

    lets not mention the black panthers or black on white crime…oh no, we couldnt do that.


  94. RIX
    94 | May 18, 2012 10:42 am

    @ coldwarrior:
    If you come next year, they play three games at Sox (U.S
    Cellular Field , across the street from Olde Kaminsky
    Stadium) & three at Wrigley.
    If you go to Wrigley wear hard hats,the place is falling
    apart. If you go to Comiskey, do not drive East when you
    leave, never , ever.


  95. 95 | May 18, 2012 10:42 am

    coldwarrior wrote:

    Rodan wrote:
    @ Iron Fist:
    That is exactly how the Tranzi Progressives view the world. They are a feudal elite and we are serfs. They advocate policies that don’t effect them.

    huh?
    no the dude is leaving the country with his wealth because we are
    TAXED
    ENOUGH
    ALREADY
    he is making a decision based on economics. i have no problem with what he decided to do.

    Well, almost. He feel’s he has been Taxed enough already, but the you and I haven’t been taxed any where near enough yet.


  96. coldwarrior
    96 | May 18, 2012 10:42 am

    @ Iron Fist:

    i dont know that the guy leaving the us believes / agitated for that.

    until i have confirmation, he is ok in my book.


  97. 97 | May 18, 2012 10:42 am

    doriangrey wrote:

    Hey, I’m just sayin… If it was good enough for Saddam Hussein, it’s good enough for Barack Hussein…

    Well, they’re all about “equality of outcome”, right?


  98. coldwarrior
    98 | May 18, 2012 10:47 am

    RIX wrote:

    If you go to Wrigley wear hard hats,the place is falling
    apart. If you go to Comiskey, do not drive East when you
    leave, never , ever.

    oh, i know.

    i was at wrigley in ’03…it was a wreck then.

    and after weeks and weeks and weeks in lombard over and over again, i kinda got the feel for where i could go or not go.

    everytime i had to go to or from the airport i had the same cabby. he was great. i would call him a day in advance for the ride. every ride he would take a different route and show me the interesting spots and we would stop for an italian beef. after the first couple of trips he wouldnt take a tip from me anymore. great guy.

    that was something about chicago that i will always remember. that dude was great.


  99. RIX
    99 | May 18, 2012 10:49 am

    Chicago Police raided an apartment in the Bridgeport
    Area yesterday, arresting Tea Party activists & confiscating
    Molotov Cocktails materials.
    OK, they weren’t actually Tea Party people, they were
    a bunch of anti-NATO yoots.
    Their lawyer is defeending them saying “it was just beer
    making equipment”


  100. 100 | May 18, 2012 10:51 am

    coldwarrior wrote:

    Iron Fist wrote:
    @ coldwarrior:
    They’d think you were part of teh Ebil Teh Party…

    yep.
    oh look at this story….white racism…
    here we go!
    http://abcnews.go.com/US/militias-hate-groups-grow-response-minority-population-boom/story?id=16370136#.T7Zfe94xRqN
    lets not mention the black panthers or black on white crime…oh no, we couldnt do that.

    This is the Fifth Column Treasonous Media setting the tone for the coming Civil War. The Federal Troops will be the “Good Guys” protecting America from the dangerous radical White Supremest Militia’s. Anyone who dares to challenge the Marxist Coup will be labeled a radical White Supremest Militia member or supporter.

    “These are just examples of people who feel like they are at a point where they have to take action because soon whites will lose power and authority and they have to protect the white race from extinction,” she said.

    “We’re not saying that patriot militia groups are made up of klansman,” he said, referring to the Ku Klux Klan. “It’s more diffuse than that. It’s a generalized feeling that ‘this is not the country my Christian white forefathers built. We’ve got to take this country back.’ It’s not rancid straight ahead race hate, but it is very closely tied to race and the changing look of the country.”

    “The thing I think to understand is that the radical right is not entirely composed of people who are insane. These are people reacting to real changes in the real world around them,” Potok said.

    It’s all right there for anyone with two functional brain cells to read…


  101. RIX
    101 | May 18, 2012 10:52 am

    @ coldwarrior:
    that was something about chicago that i will always remember. that dude was great

    Chicago is a great city, just a criminal poltical class.
    Dere ain’t notin like an Italian Beef Samich, notin.


  102. coldwarrior
    102 | May 18, 2012 10:56 am

    RIX wrote:

    Dere ain’t notin like an Italian Beef Samich, notin.

    troof!


  103. RIX
    103 | May 18, 2012 10:57 am

    Yo, later.
    I am off to get a haircut.
    Heck, might as well get them all cut.


  104. Bumr50
    104 | May 18, 2012 10:57 am

    @ RIX:

    Do they serve them with broccoli rabe?


  105. 105 | May 18, 2012 10:59 am

    @ coldwarrior:

    Thos White Racist militias have 5 guys instead of 3! Wow I’m so scared, NOT!


  106. 106 | May 18, 2012 10:59 am

    RIX wrote:

    Yo, later.
    I am off to get a haircut.
    Heck, might as well get them all cut.

    Na, better stick to only cutting one hair…. It’s safer… :razz:


  107. 107 | May 18, 2012 11:00 am

    Rodan wrote:

    @ coldwarrior:
    Thos White Racist militias have 5 guys instead of 3! Wow I’m so scared, NOT!

    See my number 100….


  108. 108 | May 18, 2012 11:01 am

    @ coldwarrior:

    The guy was pushing for higher taxes and is a Leftist. Now that he has to pay the bill, he leaves. This is what Leftists elites do.


  109. 109 | May 18, 2012 11:02 am

    doriangrey wrote:

    Rodan wrote:
    @ coldwarrior:
    Thos White Racist militias have 5 guys instead of 3! Wow I’m so scared, NOT!

    See my number 100….

    While reading it, keep the phrase “White Hispanic” in mind, that phrase didn’t just come out of nowhere…


  110. 110 | May 18, 2012 11:03 am

    Rodan wrote:

    @ coldwarrior:
    The guy was pushing for higher taxes and is a Leftist. Now that he has to pay the bill, he leaves. This is what Leftists elites do.

    Yes, but it was suppose to be higher taxes on the proles and serfs, not on him… He is one of the elitist aristocracy… :shock:


  111. citizen_q
    111 | May 18, 2012 11:05 am

    O/T, LOL! Hopefully the vetting won’t stop

    Obama’s literary agent says he was ‘born in Kenya’. How did the mainstream media miss this?

    Whatever you think of Breitbart.com’s punishing vetting process, it has exposed just how little work the mainstream media did in investigating candidate Obama back in 2008. Not all of Team Breitbart’s revelations have been election-deciders, but they have often been stuff that a simple Google would have uncovered. If they revealed tomorrow that he’d had his own cross-dressing-themed sitcom on primetime TV in the 1980s, I wouldn’t be surprised.

    Kenyan born or no, what an impressive web of lies surrounds the “one”.


  112. 112 | May 18, 2012 11:05 am

    doriangrey wrote:

    It’s not rancid straight ahead race hate, but it is very closely tied to race and the changing look of the country.

    Wrong. Race has nothing to do with it. It has to do with the fact that we have a Socialist President, Socialist Democrats who are dedicated to destroying what has made this country great. The push for gay marriage (which a majority of blacks have opposed) is emblematic of this. A tiny minority is wanting to dramartically reshape American society, and people are resistant to that Idea. Go figure.


  113. 113 | May 18, 2012 11:06 am

    @ doriangrey:

    I don’t trust the media, but some of these groups are not good either. I still think if shit hits the fan it will be a 4-6 way civil war.


  114. 114 | May 18, 2012 11:09 am

    @ doriangrey:

    I embrace the term White Hispanic. Doesn’t bother me a bit.


  115. 115 | May 18, 2012 11:10 am

    @ doriangrey:

    Yup, he supported Obama and now flees to Singapore. What an asshole.


  116. 116 | May 18, 2012 11:12 am

    Rodan wrote:

    @ doriangrey:
    I don’t trust the media, but some of these groups are not good either. I still think if shit hits the fan it will be a 4-6 way civil war.

    That my friend is exactly what the Marxist’s are trying to accomplish. A resistance to their Marxist Coup that is so fragmented that the Unified Federal forces will be able to crush it.


  117. 117 | May 18, 2012 11:16 am

    @ doriangrey:

    If the military all sides with the Federals, there’s not much that the civillians can do. I think that is a big if, though. Especially when they are given the orders to fire on the civillians in the name of the Federal Government. Some will, some won’t. That is when it gets to be a mess, when the military divides against itself.


  118. 118 | May 18, 2012 11:16 am

    Rodan wrote:

    @ doriangrey:
    I embrace the term White Hispanic. Doesn’t bother me a bit.

    That phrase will be used to cover the silent majority of third and fourth generation Hispanic’s who join the militia movement. Remember, those third and fourth generation Hispanic’s are the ones who oppose illegal immigration, who have embraced the US Constitution, who are opposed to America becoming a Marxist Utopia.


  119. 119 | May 18, 2012 11:18 am

    @ doriangrey:

    The Right is very fragmented. Heck Rightwing Militias may well end up fighting each other as well as the Marxists.


  120. 120 | May 18, 2012 11:21 am

    @ doriangrey:

    It also refers to Hispanics who embrace their rich Southern European culture and proud of the Empire of their ancestors. Not the victim-hood La Raza/Mecha wannbe Aztecs slaves, that the White Progressives have created.

    Think Progress did a hit piece on Zimmerman today. They are saying he didn’t like Muslims. That makes me like the guy even more!

    :evil:


  121. 121 | May 18, 2012 11:22 am

    @ Iron Fist:

    Yup.


  122. 122 | May 18, 2012 11:23 am

    @ doriangrey:
    @ Iron Fist:

    Here it is. Zimmerman, no friend of Islam!


  123. 123 | May 18, 2012 11:26 am

    Iron Fist wrote:

    @ doriangrey:
    If the military all sides with the Federals, there’s not much that the civillians can do. I think that is a big if, though. Especially when they are given the orders to fire on the civillians in the name of the Federal Government. Some will, some won’t. That is when it gets to be a mess, when the military divides against itself.

    I honestly wish I had the faith in our military that some of our other members here have. The problem is that I have been able to see for quite some time now the narrative already being painted by the Fifth Column Treasonous Media.

    If and when it comes to a armed insurrection the militia’s resisting the Marxist usurpers to the United States Constitution will be portrayed as racist militia’s fighting in isolated skirmishes which will be portrayed as act’s of domestic terrorism.

    My belief is that the majority of the US Military will fall victim to this propaganda and under the deception that they are being brought in to quell violent racist’s militia’s that are to well armed for local law enforcement to deal with, will willingly fire on their fellow citizens, believing them to be terrorists.


  124. Guggi
    124 | May 18, 2012 11:28 am

    Rodan wrote:

    Zimmerman, no friend of Islam!

    Was Trayvon Martin a Muslim ?


  125. 125 | May 18, 2012 11:30 am

    Rodan wrote:

    @ doriangrey:
    The Right is very fragmented. Heck Rightwing Militias may well end up fighting each other as well as the Marxists.

    Well hell Rodan, I guess in that case we better just surrender to the Marxists and forget about that old dusty Constitution thing.


  126. RIX
    126 | May 18, 2012 11:31 am

    Bumr50 wrote:

    @ RIX:

    Do they serve them with broccoli rabe?

    Nah, greasy fries.


  127. 127 | May 18, 2012 11:38 am

    @ Guggi:

    No. This is just a report that he mocked a Muslim dude.


  128. 128 | May 18, 2012 11:42 am

    @ doriangrey:

    See, I don’t think the Cold Civil War turns hot until the economy collapses. When that happens, the wheels will come completely off of society. I wouldn’t want to live in a big city for anything when that happens. At least where I am I can hunt and have a chance of keeping myself fed. Possum stew might suck, but it beats starving, and there are deer in my area as well. Cities, though, will starve, and starving people will get violent.


  129. 129 | May 18, 2012 11:42 am

    @ doriangrey:

    I’m just being real. There are different flavors of the Right. It would be hard to unite them all in common struggle. Example: a Soft Social Con like you woudl eb able to cooperate with a Libertarian Conservative like me. But the Santorum/Huckabee style Dominionist and Anarcho-Capitalists would be at each others throats.

    That’s what I was getting at.


  130. 130 | May 18, 2012 11:43 am

    @ Iron Fist:

    Possum stew might suck

    Hey, he may take offense to that!

    :lol:


  131. 131 | May 18, 2012 11:48 am

    Iron Fist wrote:

    @ doriangrey:
    See, I don’t think the Cold Civil War turns hot until the economy collapses. When that happens, the wheels will come completely off of society. I wouldn’t want to live in a big city for anything when that happens. At least where I am I can hunt and have a chance of keeping myself fed. Possum stew might suck, but it beats starving, and there are deer in my area as well. Cities, though, will starve, and starving people will get violent.

    Yup, that’s why we moved out to the boonies as well. And I think you are absolutely correct about when it goes hot as well. In fact, I even have a suspicion that the Marxist oligarchy behind the Obama Throne might even throw Obama to the wolves in the hopes that Romney will fix the economy that their policies have screwed up, while they maintain the power behind the throne position. I think they realize now that they over reached and moved to fast, now they want to slow their pogrom down so as not to be thrown out of power.


  132. 132 | May 18, 2012 11:49 am

    Rodan wrote:

    @ Iron Fist:

    Possum stew might suck
    Hey, he may take offense to that!

    What do you mean, may? He got down right indignant last time I tried popping him into a casserole pan… :twisted:


  133. 133 | May 18, 2012 11:52 am

    Hmmmm, something is seriously not right with the Stock Market… My Scottrade account is loading slower than molasses flowing uphill in the middle of a snowstorm with the wind blowing downhill..


  134. 134 | May 18, 2012 12:02 pm

    @ doriangrey:
    Facebook IPO today…


  135. 135 | May 18, 2012 3:38 pm

    @ doriangrey:

    Oil still dropping, too. A few more bucks off the near WTI future and we’re going to start to see a pullback in shale oil trends like the Eagle Ford, Bakken and Marcellus, as the big boys find the returns on other things a better deal. Won’t affect the small players with no other options. Yet. But their profit margins will sure take a hit, and their stocks, if they’re public.

    Boom and bust; that’s the oil biz…


  136. 136 | May 19, 2012 10:30 pm

    MacDuff wrote:

    lobo91 wrote:
    Guggi wrote:
    And btw.: Greenpeace is not a bit better.
    Neither is HSUS.
    Those commercials they run with all the dogs and cats should be banned. They have nothing to do with animal shelters. Their main issue is getting hunting banned in the US.

    When ads start pulling on my heartstrings, as the HSUS ads do, I become suspicious. That’s unfortunate because I have a deep relationship with animals and I abhor being played.

    Me too.

    My husband and I have two much-loved kitties. The younger one was a rescue -- not from a shelter, but from some carnies at an RV park.

    We spend what little money we have on our own pets, on human friends and acquaintances in need, and on Orthodox Christian charities.


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