It Is Precarious

This could trigger two way trades, with a larger upswing to the call on FED action. HIGH RISK, but calls lead

JPMorgan Chase May Acquire Washington Mutual After FDIC Seizure


Sept. 25 (Bloomberg) -- Washington Mutual Inc. may be seized by regulators later today and parts sold to JPMorgan Chase & Co. in what will rank among the biggest banking failures in U.S. history.


Bush did get it right. Sadly. I consider this man an embarassment to us worldwide with his style and bravado, and not truly even understanding "recession", but his explanation of the situation was succinct. It is precarious.

Originally I stated, 7 months ago, that we were IN a recession, and that it would typically (following the definition of recession) end by October of this year. Sadly, I was wrong here, as the Fannie, AIG, and brokerage lies have gotten the better of us, and we now truly face frightening decisions.

Constitutionally everything Paulson is advocating is illegal, and regulation without clear accountability, and a bail out of greed, led by lobbyists that have had Congress in their pockets.

Sadly, there is little alternative, as Buffet so clearly has stated, and John MCain missing the debate to the "be there to help" is such fodder than only the flag wavers will agree. It's time to quit wasting time, and get relief in place. The world economy is dependent upon our moves.

We saw initial reactions yesterday with a market that hit tops of 11, 169, and bottoms of 10,787, and struggled by day end to close above 11,000. This is trade range bound movement, with a market "waiting for action".



From Republican Level 3 subscriber, RC from Oklahoma, my dear friend:


"1999
Under Clinton Administration removes regulations on Freddie and Fannie


Sept 10, 2003
Bush Administration and Treasury Secretary Snow called for Regulations on Fannie and Freddie
Barney Franks “Freddie and Fannie are not in financial trouble and we do not want to prevent low income families from being approved for home loans”

April 2005
Alan Green calls for regulations on Fannie and Freddie
Blocked by Chris Dodd, Barney Franks and Chuck Schumer

May 2006
McCain writes a bill to regulate Fannie and Freddie
The bill is blocked before it could hit the floor by Barney Franks, Chris Dodd, Chuck Schumer and Barack Obama

Sept 23, 2008
Republican Senator Tom Coburn calls Barack Obama for him to agree to an investigation on top executives at Freddie and Fannie, also Senator Coburn asked Obama to meet with McCain and put together a single statement with McCain regarding the financial crisis.

At every turn regarding Fannie and Freddie are Barney Franks, Chris Dodd, Chuck Schumer and Barack Obama, the same people who received record contributions from Fannie and Freddie."