Senator Charles Schumer to Blame for Collapse of Mortgage Lender?


Cause and Effect - In other words...loose lips sink ships....

Democratic Senator Charles Schumer of New York is defending himself against allegations that he is to blame for the collapse and subsequent government takeover of mortgage lender IndyMac. Schumer is a member of the Senate Banking Committee.

On June 26 he sent a letter to market regulators expressing concern about the solvency of the bank, saying, "The regulatory community may not be prepared to take measures that would help prevent the collapse of IndyMac." Schumer then publicly released the letter.

In the 11 days that followed, depositors withdrew more than $1.3 billion from IndyMac, leaving the bank unable to function.

But Schumer denies that he is at fault, saying, "The regulator here was asleep at the switch. The administration is doing what they always do, blaming the fire on the person that called 911."

Malarkey Markey?

The excitable Democratic Congressman Ed Markey of Massachusetts told high school students last week that climate change not only caused Hurricane Katrina, but also led to the "Blackhawk Down" battle between American forces and Somali rebels back in 1993.

Cybercast News reports that Markey said, "The planet is running a fever... the worst consequences affect the planet — not only New Orleans."

He claimed that "climate change... resulted in a drought which led to famine. That famine translated to international aid we sent in to Somalia, which then led to the U.S. having to send forces to separate all the groups that were fighting over the aid, which led to Blackhawk Down."

Many scientists say it is impossible to make a direct link between global warming and Hurricane Katrina. And the desperate famine in Somalia, according to the U.N., was the result of years of war and bad governance, and population growth.

Stars and Swipes - The Ugly side of political Correctness.

Students attending a youth leadership conference in Sacramento, California, last week were scolded by armed security officers for singing the "Star-Spangled Banner" and "God Bless America" in the state capitol's rotunda.

World Net Daily reports that the Capitol Resource Institute, which organized the conference, said the students "engaged in a spontaneous expression of passion for their country by singing."

Despite the applause from onlookers, armed troopers entered the rotunda and rebuked the students for singing without a permit. In the five minutes it took to sing the songs, someone called security and complained about the noise.

But the students formally asked for, and received, a government permit to sing in the capitol rotunda on Sunday.

Heading for Trouble - Lib hate on display

A British drama on the BBC has triggered a barrage of viewer complaints after it showed a beheading. The Daily Mail newspaper reports that the first episode of "Bonekickers" had a scene in which an extremist evangelical Christian beheads a Muslim man.

One viewer wrote on BBC's Web site, "If it had been another religion portrayed in that manner — the P.C. police would have been up in arms about the nastiness and their rights not to have their religion ridiculed. As it was Christians — it was apparently okay."

The BBC has admitted regret that viewers found the scene inappropriate, but is defending its decision to show it.

http://www.foxnews.com/story/0,2933,382321,00.html

How about Republican "deregulation" gone wild? Dis Schumer cause Bear Stearns? How many more banks will fail due to the bad loans they made under, dare I say it, "liberal" Republican banking rules.

Sorry to sat it but many more.....

How about DEMS just shutting up with their election year lies?

You have NO ANSWERS when facts are presented.

Rhino REPS...limosine Libs...all the same.

Look...I'm not saying you don't have ideas...I'm saying we need to extract the BEST from BOTH sides. I am very happy that congress overrode BUSH's VETO on the medicare bill. That was a good thing, but I don't like alot of what DEMS are saying...they are over the top & also need reigning in.

You have to agree...right?

You make it difficult to agree with you on anything when a good number of your posts contain inflammatory anti-left smears.

Ok...well there is two of us compared to all of you...but I am trying to inject some conversation on things I really care about.

I will stop with the generalties if I can just get some other ideas ...tangable ones. I do like to hear what others have to say...aside of I hate bush & all reps are blah balh blah...

I'm for getting back on course...of course...

...but YOU...have a nice day!

You are a hate b*****.Best thing the dems have going. Keep it up