Friday, July 16, 2010
Looking into EX-Im’s recent activities, I realized it has had the ability to manipulate capitalism since its very creation by FDR in the 30’s, and has been used extensively by all presidents since then for this purpose. I felt so naïve after reading how powerful this export credit agency is, and it is a part of the Executive branch of Congress! My guess is that the majority of Americans don’t know anything about this credit agency and what a powerful role it has in determining national and global effects on the financial and economic sectors, and what products/services will benefit from their loan approvals. I should mention that many countries have their own Export/Import bank used for similar purposes.
In simple terms, the basics and fundamental role of the bank is to lend countries low-interest money so that they can purchase US products, producing jobs and revenue through exportation of materials and services. OK we can all get behind this concept. However, the criticism over the years is that they have allegedly favored special interests by subsidizing corporations such as Boeing and Enron. In 1996 the bank provided $120 million loan to the China National Nuclear Power Corporation.
Reading about these recent special interests that were provided internally by our government is very disturbing to me. In 1996, our president Clinton, whom I always believed was against building up nuclear power, evidently was OK with the China nuclear transaction. In addition, Enron who is the biggest thief of all time was subsidized by our executive branch.
Further investigation of Ex_Im bank revealed that approximately $243 million in fraudulent loans to companies doing business with Mexico, including companies with no verifiable address and to individuals who were known associates of Sinaloa and Jujarez drug trafficking cartels. This fact confirmed a documentary that I saw years ago, which I thought at the time had a slanted view of drug trafficking being supported and generated by our internal government. It’s hard to swallow such truths! Ugly, truly ugly.
The recent allocations of Obama lending 2.1 billion to Brazil for the purpose of deep-well oil drilling are true. The loan was already approved back in 2009, and US business will be launched in supplying piping, technology, oil rigs, etcetera, for assisting in Brazil’s oil exploration. But I thought that Obama was against fossil-fuel projects? His campaign specifically stated that we had to look toward alternative natural, green energy! I’m feeling more naïve now than ever before.
In February 2009, the Ex-Im Bank settled a 7-year long legal proceeding brought by Friends of the Earth, other non-governmental organizations (NGOs), and various American cities. The plaintiffs claimed that the Ex-Im Bank and the Overseas Private Investment Corporation (OPIC) provided financial assistance to oil and other fossil fuel projects without first evaluating the projects' global warming impacts.
Evidently, in the settlement agreement, Ex-Im agreed to evaluate future carbon dioxide emissions prior to lending for these specific types of projects. Liars! Since their agreement they lent 2.1 billion to Brazil.
Let it be known right now, I’m no longer affiliated with any political party! What a farce!
Tuesday, July 6, 2010
There has been so much media hype about programs that were developed by Obama’s Administration, such as HAMP (Home Affordable Modification Program,) that are not being offered to the majority of home owners that have applied. Also, there is ample evidence that the current HAMP and other modification guidelines are being interpreted differently by each bank, reflected in many places including the scenarios described by the 20,000+ members of the loansafe.org community. Additional evidence can be found in hundreds if not thousands of complaints and requests for assistance sent by struggling homeowners to their Senators and Congressmen across the country, as well as the Office of the Comptroller of the Currency and other agencies that have been instituted to regulate these banks. So what is really going on?
Let’s just take a look at one bank closely, such as One West, former IndyMac. They have stated to many homeowners that they are not participating in any of Obama’s modification plans. Now how can they legally not participate in or offer the HAMP program to struggling homeowners?
Upon further investigation, I found out that the major investors in One West Bank are the billionaires George Soros and Michael Dell, who purchased the failed bank for 13.9 billion! You know Dell of course from Dell computers, but who the heck is George Soros? Try the founder of MoveOn.org! It gets more interesting now. Evidently, good old George many claim is the sole reason Barack Obama made it to the Presidency! OK, I can get behind that.
Umm, let’s see. The Feds sold IndyMac to One West Bank (Soros and Dell) for 50c on the dollar of the assets they were holding [your mortgage] and then backed them for 70% of any thing they might loose. Freddie and Fannie only insured at the 40% level. So now One West can foreclose on mortgages that they paid 50c on the dollar for and still make 70% on it if they sell the home for 1/2 of what your mortgage was! Comprendé?
Why would One West Bank, or any bank for that matter, want to help to keep you in your home when they can make a 70% profit if you foreclose? Furthermore, it seems crystal clear why Obama has turned his back on the mortgage lending industry.
Hmm, seems to be silent alliances here!
Sunday, July 4, 2010
I watched a documentary this morning on the building of America. I forgot how tough and hard our forefathers worked to make a life here in the United States. The industrial revolution, the Erie Canal built by hand, and the cotton gin, long forgotten in our history are the backbone of who we are and where we have come from. These people had vision, fortitude, and dedication to improve their lives as well as the lives of others.
I believe that we Americans still have it in us to care, work hard, and make a difference for our families and future generations. Unfortunately, the distractions of a world troubled by war, angst by greed, and worry about environmental pollution, has robbed many of us of the realization that we still have a decent life here in America compared with the rest of the world.
When you are celebrating with your family and friends today, concentrate on all of the good things that we have here in America. Give thanks that we still have options and opportunities to make a life, even thought it is currently difficult, if we choose too!
Happy 4th of July!
Friday, July 2, 2010
Evidently, the Gulf of Mexico and Florida are two main resources for sponges, sea worms, and other invertebrates that live in the oil slicks path. This is the core ocean area that researchers use for specimens in research and development for cures.
A number of modern drug treatments are based on compounds produced by marine organisms. Many of these organisms live in small, unique locales. Once killed off by something like the oil spill, their potential research contributions could be lost to medical science forever!
One of the most promising treatments threatened by the spill is a possible cure for malaria. Molecular biologists and drug discovery experts are testing compounds taken from sponges collected off the coast of Florida and other waters in the path of the spill, and the testing and research performed thus far has been successful.
The tragedy here is that the basis for these cures is only found in the Gulf or the waters around the Florida peninsula—exactly where the crude is spewing, and spreading, in the millions of gallons.
Hey "Drill baby, drill" people, how is BP going to pay for that?