Behind every great fortune...
Byron Black
austin-ghetto-list@pairlist.net
Thu Feb 26 23:12:09 2004
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Mario Puzo uses the quote in the frontespiece of "The Godfather". It's =
from Balzac , I believe, and translates as "Behind every great fortune =
there is a great crime."
BBBBBBBBBBBBBBBBBBBB
----- Original Message -----=20
From: Gerry Storm=20
To: austin-ghetto-list@pairlist.net=20
Sent: Friday, February 27, 2004 9:23 AM
Subject: Re: American Dreams turn to nightmares...
<<That means that womens' ovulation is an act of murder?<<
Oh yeah, Bubba, those split-tails are the source of all humanity's =
problems. Just think of all the healthy sperm who die unnecessarily =
because the of the scarcity of eggs. How long are we going to stand by =
and allow this to happen? If there were more multiple births we could =
destroy the planet in half the time it is currently taking us. We will =
probably need a constitutional ammendment...
I'm still in somewhat of a state of shock after reading the on-line =
unauthorized biography of Papa Bush and the connected families of the =
Skull&Bones boys. Howard, I think, posted the link awhile back and I =
have been working my way through it. I'm glad they keep a roster of each =
class of 15 initiates per year, they will be at the front of the line =
when the guillotines begin again. Of course Kerry is one of them too, =
and although he hasn't taken the capitalist route, his ancestors are =
among the originals, the Forbes family. According to the book these =
families made their original fortunes in the opium trade with China. =
They were the Tory sympathizers who had a fit when Jefferson was =
elected. Just goes to show you that dope dealing can pay off big time =
when you have a captive market, and that behind every big fortune there =
is ton of misery.
G
----- Original Message -----=20
From: Wayne Johnson=20
To: austin-ghetto-list@pairlist.net=20
Sent: Thursday, February 26, 2004 5:38 PM
Subject: Re: American Dreams turn to nightmares...
Ohmigosh, Gerry, you have said the "C-W" words! How could you be =
so, so, so un-uh, Republican!
Next thing you will be saying is that the Vatican and Jerry Falwell =
have no right to dictate what women do with their own bodies.
You know, if "souls" arrive fairly soon after or even simultaneously =
with sperm-egg joining, then there must be some proto-souls locked up in =
those eggs! That means that womens' ovulation is an act of murder?
wj
----- Original Message -----=20
From: Gerry Storm=20
To: austin-ghetto-list@pairlist.net=20
Sent: Thursday, February 26, 2004 3:01 PM
Subject: Re: American Dreams turn to nightmares...
I believe Mr. Greenspan just assured Kerry's election. Never have =
liked the conniving little sack of dropping, never really believed he =
has a grasp on the economy and its fluctuations. Glad to see Kerry step =
up and challenge his logic. Sure, we need to keep the onerous tax cuts =
in place or it might threaten the economy, or to be more explicit, we =
need to protect the rich and fuck over those who need their SSI to =
survive or prices may go up at the Mall.
IT IS TIME FOR CLASS WAR!!!! THEY HAVE GONE TOO FAR!!!!
These bastards now believe that they can pull a fast one on the =
millions of boomers who are approaching retirement and on those of us =
who are collecting SSI as well (by changing the formula used to =
calculate cost of living adjustments). How dare they! I think we should =
begin by burning the suburbs and parking car bombs on Wall Street and in =
the parking lots of banks. Anyone have Greenspan's address? Where is =
Timothy McVey when we need him?
Just joking, of course, we don't really need Timothy, he left us =
his technology.
G
----- Original Message -----=20
From: Frances Morey=20
To: austin-ghetto-list@pairlist.net=20
Sent: Thursday, February 26, 2004 12:21 PM
Subject: Fwd: American Dreams turn to nightmares...
This is too horrible to even contemplate. Can this be happening =
at a time when the people on this list are on the cusp of retirement? I =
feel helpless as I witness the news that my social security has been =
sacrificed to homeland insecurity.
Frances
David Rubinson <rubinson@kab.com> wrote:
Date: Thu, 26 Feb 2004 08:27:47 -0500
To: (Recipient list suppressed)
From: David Rubinson=20
Subject: American Dreams
How much of this are we going to take ?
If there is a single immutable deal that exists between The =
USA and its people, it is that WE work our lives off, and WE contribute =
OUR share, and the USA provides money for our old age in return. That's =
the deal.
And now, if I can believe my eyes and ears, we are being told =
that the deal may be off.
Bill Graham used to say: "It's not the Money, it's the MONEY."
When you make a deal, you deliver. There is no other way.
I do what I say, you do what you say.
Period. Done.
In a marriage. love affair, or business deal- the moment that =
one of the partners decides to NOT live up to the deal, the wedding is =
OFF bro.
The test of a deal and of any relationship, is not when things =
are swell.
Anyone can live up to their commitments when things are swell.
Its when things are hard. It's when you may have another offer =
that is better- or when you have to actually give something up to =
fulfill your end of the bargain- that's when the true test comes.
George the Lesser knew the deal when he walked into the =
Saloon.
And he has betrayed us.
What amazes me most is that the ones he has most profoundly =
betrayed, support him most ardently.
Had he laid it all put to us, had he run on a platform of huge =
deficits, dollar devaluation, and dilution of our Social Security--
and given us the CHOICE- how many people would have voted =
for that ?
But- George does not believe in putting his cards on the =
table.
In this saloon, he is the one with the aces up his sleeve, and =
a marked deck.
We have not been given any choice-=20
We have been denied the fundamental rights of a Democracy.
The government has decided to spend our money on war, and not =
on us.
They have reneged on our deal.
They deserve to be treated like any other cheat at the table-
Thrown out into the dust, and shot in the ass.
Oh, and by the way- forget that mortgage you were going to =
get- =20
The War is going to go on for at least another milennium, so - =
ahhh, our money is a little low right now.
Maybe the in laws have a spare room ?
----------------------------------------------------------------------
washingtonpost.com=20
Fed Chief Urges Cut In Social Security=20
Future Benefits Must Be Curtailed, Greenspan Warns=20
excerpts. For complete text access:
=
http://www.washingtonpost.com/wp-dyn/articles/A7099-2004Feb25.html?referr=
er=3Demail
By Nell Henderson
Washington Post Staff Writer
Thursday, February 26, 2004; Page A01=20
Federal Reserve Chairman Alan Greenspan warned Congress =
yesterday that the federal government has promised more retirement =
benefits than it can pay for and must consider scaling back those =
commitments soon to avoid damaging the economy in the future.
"I am just basically saying that we are overcommitted at this =
stage," Greenspan told members of the House Budget Committee as they =
discussed the future costs of the Social Security and Medicare systems.
Greenspan, who supported President Bush's 2001 tax cuts, again =
endorsed Bush's proposal to make the cuts permanent. However, he said in =
response to questions that raising taxes would inevitably be part of any =
successful effort to reduce the growing federal budget deficit. He =
stressed that he prefers cutting government spending as much as possible =
before increasing taxes.=20
"You don't have the resources to do it all," Greenspan said.=20
To curtail future spending, Greenspan urged Congress, as he =
has in the past, to consider cutting promised Social Security benefits =
to future retirees. Otherwise, he said, the growing burdens would create =
long-term budget deficits that would drive up interest rates and depress =
economic growth, making it even harder for the government to pay its =
bills.
Greenspan said Congress should act as soon as it can because =
it would take several years to convince financial markets that the =
actions will be effective, and because future retirees deserve enough =
advance warning to plan their finances accordingly. About 20 percent of =
the elderly rely on Social Security for all their income, the government =
estimates.
=3D=3D=3D
Greenspan supports permanent tax cuts:=20
Federal Reserve chairman Alan Greenspan said - that Congress =
should make President Bush's tax cuts permanent and cover the $1 =
trillion price by trimming future benefits in Social Security and other =
entitlement programs.
=
http://www.boston.com/business/taxes/articles/2004/02/13/greenspan_suppor=
ts_permanent_tax_cuts/
=20
washingtonpost.com=20
Greenspan Warns Panel On Fannie, Freddie=20
Mortgage Giants' Size Poses Risk, He Says=20
=
http://www.washingtonpost.com/wp-dyn/articles/A3321-2004Feb24.html
By Kathleen Day
Washington Post Staff Writer
Wednesday, February 25, 2004; Page E01=20
Federal Reserve Board Chairman Alan Greenspan warned Congress =
yesterday that the rapid growth of mortgage giants Fannie Mae and =
Freddie Mac poses a threat to the stability of U.S. financial markets =
and urged lawmakers to address the issue while the companies are =
healthy, rather than wait for a crisis.
In his most expansive critique of the two government sponsored =
enterprises, or GSEs, Greenspan told members of the Senate Banking, =
Housing and Urban Affairs Committee that he favors "privatizing" the =
companies by ending the government subsidies they enjoy in the form of =
lower borrowing costs and tax breaks.
Acknowledging that such action is unlikely because of the =
companies' influence in Congress, Greenspan said lawmakers should =
consider limiting the multitrillion-dollar debt the enterprises take on =
each year, arguing that their below-market borrowing costs encourage the =
GSEs to grow faster than the housing market and contribute little to =
their mission of promoting home ownership.
And he said Congress must revamp the Office of Federal Housing =
Enterprise Oversight (OFHEO), the agency that regulates the companies, =
to give it powers equal to bank regulators. Unlike OFHEO, bank =
regulators can require a riskier institution to hold more cash. Banks =
can also be put into receivership and be liquidated if they become =
insolvent.
"One of the reasons why the issue of Fannie and Freddie didn't =
arise earlier is they weren't large enough and didn't create a potential =
significant problem for the overall financial system," Greenspan said. =
"But they will almost surely do [so] in years ahead unless some changes =
are made in the structure of how these organizations function."
Spokesmen for Fannie Mae and Freddie Mac, whose chairman will =
testify before the Senate committee today, said they welcome efforts to =
strengthen federal oversight but took issue with most of Greenspan's =
other remarks.
"We, of course, disagree with most of his conclusions, but =
appreciate that he has now made his strongly held views public," said =
Jayne Shontell, head of investor relations for Washington-based Fannie =
Mae.
A Freddie Mac spokesman said that "privatizing the housing =
GSEs would seriously damage the finest housing finance system in the =
world and, ultimately, the U.S. economy."
=3D=3D=3D
CIA chief predicts war with no end:=20
He offered the Senate intelligence committee a bleak vision of =
a war on terrorism without end, in which even the destruction of =
al-Qa'eda would not make America safe.
http://www.informationclearinghouse.info/article5761.htm
David Rubinson
,,,, ,,,,
\\\ ///
~~~~~~~~~~{=F4=BF=F4}~~~~~~~~~~~~~~~~~
~~~~~~~~~~( . ) ~~~~~~~~~~~~~~~~~
:::::::::::::::::: ooo:::ooo =
:::::::::::::::::::::::::::::::::::::::::::::
:::::::::::::::::: ( ) :::( =
)::::::::::::::::::::::::::::::::::::::::::::
( ) ( )
=20
in J A M A I C A=20
YAH !! MON !!=20
Quote of The Day
"As far as we're concerned, we've been entirely successful. =
Our objective has been achieved. That tyrant Saddam is gone, and the =
Americans are in Baghdad. What was said before is not important."=20
Ahmad Chalabi, President, Iraq Governing Council=20
------------------------------------------------------------------------
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<DIV><FONT face=3DArial size=3D2>Mario Puzo uses the quote in the =
frontespiece of=20
"The Godfather". It's from Balzac , I believe, and translates as "Behind =
every=20
great fortune there is a great crime."</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>BBBBBBBBBBBBBBBBBBBB</FONT></DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dmesmo@gilanet.com href=3D"mailto:mesmo@gilanet.com">Gerry =
Storm</A>=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
title=3Daustin-ghetto-list@pairlist.net=20
=
href=3D"mailto:austin-ghetto-list@pairlist.net">austin-ghetto-list@pairli=
st.net</A>=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Friday, February 27, 2004 =
9:23=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: American Dreams =
turn to=20
nightmares...</DIV>
<DIV><BR></DIV>
<DIV><FONT size=3D2><<That means that womens' ovulation is an =
act of=20
murder?<<</FONT></DIV>
<DIV><FONT size=3D2></FONT> </DIV>
<DIV>Oh yeah, Bubba, those split-tails are the source of all =
humanity's=20
problems. Just think of all the healthy sperm who die =
unnecessarily=20
because the of the scarcity of eggs. How long are we going to stand by =
and=20
allow this to happen? If there were more multiple births we could =
destroy the=20
planet in half the time it is currently taking us. We will probably =
need a=20
constitutional ammendment...</DIV>
<DIV> </DIV>
<DIV>I'm still in somewhat of a state of shock after reading the =
on-line=20
unauthorized biography of Papa Bush and the connected families of the=20
Skull&Bones boys. Howard, I think, posted the link awhile back and =
I have=20
been working my way through it. I'm glad they keep a roster of each =
class of=20
15 initiates per year, they will be at the front of the line when the=20
guillotines begin again. Of course Kerry is one of them too, and=20
although he hasn't taken the capitalist route, his ancestors are =
among=20
the originals, the Forbes family. According to the book these families =
made=20
their original fortunes in the opium trade with China. They were the =
Tory=20
sympathizers who had a fit when Jefferson was elected. Just goes to =
show you=20
that dope dealing can pay off big time when you have a captive market, =
and=20
that behind every big fortune there is ton of misery.</DIV>
<DIV>G</DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dcadaobh@shentel.net =
href=3D"mailto:cadaobh@shentel.net">Wayne=20
Johnson</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
title=3Daustin-ghetto-list@pairlist.net=20
=
href=3D"mailto:austin-ghetto-list@pairlist.net">austin-ghetto-list@pairli=
st.net</A>=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Thursday, February 26, =
2004 5:38=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: American Dreams =
turn to=20
nightmares...</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3DArial size=3D2>Ohmigosh, Gerry, you have said the =
"C-W"=20
words! How could you be so, so, so un-uh,=20
Republican!</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Next thing you will be saying is =
that the=20
Vatican and Jerry Falwell have no right to dictate what women do =
with their=20
own bodies.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>You know, if "souls" arrive fairly =
soon after=20
or even simultaneously with sperm-egg joining, then there must be =
some=20
proto-souls locked up in those eggs! That means that womens' =
ovulation=20
is an act of murder?</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>wj</FONT></DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- =
</DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dmesmo@gilanet.com =
href=3D"mailto:mesmo@gilanet.com">Gerry Storm</A>=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
title=3Daustin-ghetto-list@pairlist.net=20
=
href=3D"mailto:austin-ghetto-list@pairlist.net">austin-ghetto-list@pairli=
st.net</A>=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Thursday, February =
26, 2004=20
3:01 PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: American =
Dreams turn to=20
nightmares...</DIV>
<DIV><BR></DIV>
<DIV>I believe Mr. Greenspan just assured Kerry's election. Never =
have=20
liked the conniving little sack of dropping, never really believed =
he has=20
a grasp on the economy and its fluctuations. Glad to see Kerry =
step up and=20
challenge his logic. Sure, we need to keep the onerous tax cuts in =
place=20
or it might threaten the economy, or to be more explicit, we need =
to=20
protect the rich and fuck over those who need their SSI to survive =
or=20
prices may go up at the Mall.</DIV>
<DIV> </DIV>
<DIV>IT IS TIME FOR CLASS WAR!!!! THEY HAVE GONE TOO FAR!!!!</DIV>
<DIV> </DIV>
<DIV>These bastards now believe that they can pull a fast one on =
the=20
millions of boomers who are approaching retirement and on those of =
us who=20
are collecting SSI as well (by changing the formula used to =
calculate cost=20
of living adjustments). How dare they! I think we should begin by =
burning=20
the suburbs and parking car bombs on Wall Street and in the =
parking lots=20
of banks. Anyone have Greenspan's address? Where is Timothy McVey =
when we=20
need him?</DIV>
<DIV> </DIV>
<DIV>Just joking, of course, we don't really need Timothy, he left =
us his=20
technology.</DIV>
<DIV>G</DIV>
<DIV> </DIV>
<DIV> </DIV>
<BLOCKQUOTE=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- =
</DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dfrances_morey@yahoo.com=20
href=3D"mailto:frances_morey@yahoo.com">Frances Morey</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
title=3Daustin-ghetto-list@pairlist.net=20
=
href=3D"mailto:austin-ghetto-list@pairlist.net">austin-ghetto-list@pairli=
st.net</A>=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Thursday, February =
26, 2004=20
12:21 PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Fwd: American =
Dreams turn=20
to nightmares...</DIV>
<DIV><BR></DIV>
<DIV>This is too horrible to even contemplate. Can this be=20
happening at a time when the people on this list are on =
the cusp=20
of retirement? I feel helpless as I witness the news that my =
social=20
security has been sacrificed to homeland insecurity.</DIV>
<DIV>Frances</DIV>
<DIV><BR><BR><B><I>David Rubinson <<A=20
=
href=3D"mailto:rubinson@kab.com">rubinson@kab.com</A>></I></B>=20
wrote:</DIV>
<BLOCKQUOTE class=3Dreplbq=20
style=3D"PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: =
#1010ff 2px solid">Date:=20
Thu, 26 Feb 2004 08:27:47 -0500<BR>To: (Recipient list=20
suppressed)<BR>From: David Rubinson =
<RUBINSON@KAB.COM><BR>Subject:=20
American Dreams<BR><BR><FONT size=3D3>How much of this are we =
going to=20
take ?<BR>If there is a single immutable deal that exists =
between The=20
USA and its people, it is that WE work our lives off, and WE=20
contribute OUR share, and the USA provides money for our old =
age in=20
return. That's the deal.<BR>And now, if I can believe my =
eyes=20
and ears, we are being told that the deal may be off.<BR>Bill =
Graham=20
used to say: "It's not the Money, it's the MONEY."<BR>When you =
make a=20
deal, you deliver. There is no other way.<BR>I do what I say, =
you do=20
what you say.<BR>Period. Done.<BR>In a marriage. love affair, =
or=20
business deal- the moment that one of the partners =
decides to=20
NOT live up to the deal, the wedding is OFF bro.<BR>The test =
of a deal=20
and of any relationship, is not when things are =
swell.<BR>Anyone can=20
live up to their commitments when things are swell.<BR>Its =
when things=20
are hard. It's when you may have another offer that is better- =
or when=20
you have to actually give something up to fulfill your end of =
the=20
bargain- that's when the true test comes.<BR>George the =
Lesser=20
knew the deal when he walked into the Saloon.<BR>And he has =
betrayed=20
us.<BR>What amazes me most is that the ones he has most =
profoundly=20
betrayed, support him most ardently.<BR>Had he laid it all put =
to us,=20
had he run on a platform of huge deficits, dollar devaluation, =
and=20
dilution of our Social Security--<BR>and given us the=20
CHOICE- how many people would have voted for that=20
?<BR>But- George does not believe in putting his cards =
on the=20
table.<BR>In this saloon, he is the one with the aces up his =
sleeve,=20
and a marked deck.<BR>We have not been given any choice- =
<BR>We have=20
been denied the fundamental rights of a Democracy.<BR>The =
government=20
has decided to spend our money on war, and not on us.<BR>They =
have=20
reneged on our deal.<BR>They deserve to be treated like any =
other=20
cheat at the table-<BR>Thrown out into the dust, and shot in =
the=20
ass.<BR>Oh, and by the way- forget that mortgage you =
were going=20
to get- <BR>The War is going to go on for at least =
another=20
milennium, so - ahhh, our money is a little low right=20
now.<BR>Maybe the in laws have a spare room ?<BR>
<HR>
</FONT><FONT face=3Darial size=3D2><B>washingtonpost.com</B>=20
<BR></FONT><FONT size=3D5><B>Fed Chief Urges Cut In Social=20
Security</B></FONT><FONT size=3D3> <BR><B>Future Benefits Must =
Be=20
Curtailed, Greenspan Warns <BR></B>excerpts. For complete text =
access:<BR><A=20
=
href=3D"http://www.washingtonpost.com/wp-dyn/articles/A7099-2004Feb25.htm=
l?referrer=3Demail"=20
=
eudora=3D"autourl">http://www.washingtonpost.com/wp-dyn/articles/A7099-20=
04Feb25.html?referrer=3Demail<BR><BR></A></FONT><FONT=20
size=3D2>By Nell Henderson<BR>Washington Post Staff =
Writer<BR>Thursday,=20
February 26, 2004; Page A01 <BR><BR></FONT><FONT =
size=3D3><B>Federal=20
Reserve Chairman Alan Greenspan warned Congress yesterday that =
the=20
federal government has promised more retirement benefits than =
it can=20
pay for and must consider scaling back those commitments soon =
to avoid=20
damaging the economy in the future.<BR><BR>"I am just =
basically saying=20
that we are overcommitted at this stage," Greenspan told =
members of=20
the House Budget Committee as they discussed the future costs =
of the=20
Social Security and Medicare systems.<BR><BR></B>Greenspan, =
who=20
supported President Bush's 2001 tax cuts, again endorsed =
Bush's=20
proposal to make the cuts permanent. However, he said in =
response to=20
questions that raising taxes would inevitably be part of any=20
successful effort to reduce the growing federal budget =
deficit. He=20
stressed that he prefers cutting government spending as much =
as=20
possible before increasing taxes. <BR><BR><B>"You don't have =
the=20
resources to do it all,"</B> Greenspan said. <BR><BR><B>To =
curtail=20
future spending, Greenspan urged Congress, as he has in the =
past, to=20
consider cutting promised Social Security benefits to future =
retirees.=20
Otherwise, he said, the growing burdens would create long-term =
budget=20
deficits that would drive up interest rates and depress =
economic=20
growth, making it even harder for the government to pay its=20
bills.<BR><BR></B>Greenspan said Congress should act as soon =
as it can=20
because it would take several years to convince financial =
markets that=20
the actions will be effective, and because future retirees =
deserve=20
enough advance warning to plan their finances accordingly. =
About 20=20
percent of the elderly rely on Social Security for all their =
income,=20
the government estimates.<BR><BR>=3D=3D=3D<BR></FONT><FONT=20
size=3D4><B>Greenspan supports permanent tax cuts:=20
<BR><BR></B></FONT><FONT size=3D3>Federal Reserve chairman =
Alan=20
Greenspan said - that Congress should make President Bush's =
tax cuts=20
permanent and cover the $1 trillion price by trimming future =
benefits=20
in Social Security and other entitlement programs.<BR><A=20
=
href=3D"http://www.boston.com/business/taxes/articles/2004/02/13/greenspa=
n_supports_permanent_tax_cuts/"=20
=
eudora=3D"autourl">http://www.boston.com/business/taxes/articles/2004/02/=
13/greenspan_supports_permanent_tax_cuts/<BR></A> <BR></FONT><FONT=20
face=3Darial size=3D2><B>washingtonpost.com</B> =
<BR><BR></FONT><FONT=20
size=3D5><B>Greenspan Warns Panel On Fannie, =
Freddie</B></FONT><FONT=20
size=3D3> <BR>Mortgage Giants' Size Poses Risk, He Says <BR><A =
=
href=3D"http://www.washingtonpost.com/wp-dyn/articles/A3321-2004Feb24.htm=
l"=20
=
eudora=3D"autourl">http://www.washingtonpost.com/wp-dyn/articles/A3321-20=
04Feb24.html<BR><BR></A></FONT><FONT=20
size=3D2>By Kathleen Day<BR>Washington Post Staff =
Writer<BR>Wednesday,=20
February 25, 2004; Page E01 <BR><BR></FONT><FONT =
size=3D3>Federal=20
Reserve Board Chairman Alan Greenspan warned Congress =
yesterday that=20
the rapid growth of mortgage giants Fannie Mae and Freddie Mac =
poses a=20
threat to the stability of U.S. financial markets and urged =
lawmakers=20
to address the issue while the companies are healthy, rather =
than wait=20
for a crisis.<BR><BR><B>In his most expansive critique of the =
two=20
government sponsored enterprises, or GSEs, Greenspan told =
members of=20
the Senate Banking, Housing and Urban Affairs Committee that =
he favors=20
"privatizing" the companies by ending the government subsidies =
they=20
enjoy in the form of lower borrowing costs and tax=20
breaks.<BR><BR></B>Acknowledging that such action is unlikely =
because=20
of the companies' influence in Congress, Greenspan said =
lawmakers=20
should consider limiting the multitrillion-dollar debt the =
enterprises=20
take on each year, arguing that their below-market borrowing =
costs=20
encourage the GSEs to grow faster than the housing market and=20
contribute little to their mission of promoting home=20
ownership.<BR><BR>And he said Congress must revamp the Office =
of=20
Federal Housing Enterprise Oversight (OFHEO), the agency that=20
regulates the companies, to give it powers equal to bank =
regulators.=20
Unlike OFHEO, bank regulators can require a riskier =
institution to=20
hold more cash. Banks can also be put into receivership and be =
liquidated if they become insolvent.<BR><BR>"One of the =
reasons why=20
the issue of Fannie and Freddie didn't arise earlier is they =
weren't=20
large enough and didn't create a potential significant problem =
for the=20
overall financial system," Greenspan said. "But they will =
almost=20
surely do [so] in years ahead unless some changes are made in =
the=20
structure of how these organizations =
function."<BR><BR>Spokesmen for=20
Fannie Mae and Freddie Mac, whose chairman will testify before =
the=20
Senate committee today, said they welcome efforts to =
strengthen=20
federal oversight but took issue with most of Greenspan's =
other=20
remarks.<BR><BR>"We, of course, disagree with most of his =
conclusions,=20
but appreciate that he has now made his strongly held views =
public,"=20
said Jayne Shontell, head of investor relations for =
Washington-based=20
Fannie Mae.<BR><BR><B>A Freddie Mac spokesman said that =
"privatizing=20
the housing GSEs would seriously damage the finest housing =
finance=20
system in the world and, ultimately, the U.S.=20
economy."<BR><BR></B>=3D=3D=3D<BR><BR><B>CIA chief predicts =
war with no end:=20
<BR><BR></B>He offered the Senate intelligence committee a =
bleak=20
vision of a war on terrorism without end, in which even the=20
destruction of al-Qa'eda would not make America safe.<BR><A=20
=
href=3D"http://www.informationclearinghouse.info/article5761.htm"=20
=
eudora=3D"autourl">http://www.informationclearinghouse.info/article5761.h=
tm<BR><BR></A><X-SIGSEP>
=
<P></X-SIGSEP>  =
;=20
</FONT><FONT face=3D"Lucida Handwriting" size=3D3><B>David=20
=
Rubinson<BR></B></FONT> &n=
bsp; &nb=
sp;=20
<B>,,,,=20
=
,,,,<BR></B> &=
nbsp; =20
\\\ ///<BR><FONT color=3D#0000ff =
size=3D3>~~~~~~~~~~</FONT><FONT=20
color=3D#800000 size=3D3><B>{</FONT><FONT =
size=3D3>=F4</FONT><FONT=20
color=3D#800000 size=3D3>=BF</FONT><FONT =
size=3D3>=F4</FONT><FONT color=3D#800000=20
size=3D3>}</B></FONT><FONT color=3D#0000ff=20
size=3D3>~~~~~~~~~~~~~~~~~<BR>~~~~~~~~~~</FONT><FONT =
color=3D#800000=20
size=3D4><B>( . )</B></FONT><FONT color=3D#800000 =
size=3D3>=20
</FONT><FONT color=3D#0000ff=20
size=3D3>~~~~~~~~~~~~~~~~~<BR> :::::::::::::::::: =
</FONT><FONT=20
color=3D#800000 size=3D2><B>ooo</B></FONT><FONT =
color=3D#0000ff=20
size=3D3>:::</FONT><FONT color=3D#800000 =
size=3D2><B>ooo</FONT><FONT size=3D2>=20
</B></FONT><FONT color=3D#0000ff=20
=
size=3D3>:::::::::::::::::::::::::::::::::::::::::::::<BR> =20
:::::::::::::::::: </FONT><FONT color=3D#800000 =
size=3D2><B>( =20
)</FONT><FONT size=3D2> </B></FONT><FONT color=3D#0000ff=20
size=3D3>:::</FONT><FONT color=3D#800000 size=3D2><B>( =20
)</B></FONT><FONT color=3D#0000ff=20
=
size=3D3>::::::::::::::::::::::::::::::::::::::::::::<BR></FONT><FONT=20
=
size=3D3> &nbs=
p; =20
</FONT><FONT color=3D#800000 size=3D2><B>( )</B> </FONT><FONT=20
size=3D2> </FONT><FONT color=3D#800000 =
size=3D2><B>(=20
=
)<BR><BR> &nbs=
p; =20
<BR></FONT><FONT=20
size=3D4> =
in J A M=20
A I C A <BR> =
YAH =20
!! MON !!</B></FONT><FONT size=3D3> <BR><BR>Quote =
of The=20
Day<BR><BR><B>"As far as we're concerned, we've been entirely=20
successful. Our objective has been achieved. That tyrant =
Saddam is=20
gone, and the Americans are in Baghdad. What was said before =
is not=20
important." <BR><BR>Ahmad Chalabi, </B><I>President, Iraq =
Governing=20
Council</I> </FONT></P></BLOCKQUOTE>
<P>
<HR SIZE=3D1>
Do you Yahoo!?<BR>Get better spam protection with <A=20
=
href=3D"http://us.rd.yahoo.com/mailtag_us/*http://antispam.yahoo.com/tool=
s">Yahoo!=20
=
Mail</A></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML=
>
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