FedUpUSA

Archive for October, 2009

New Door Hanger and Flier – October 1, 2009

One very outraged member of FedUpUSA took it upon himself to design, print and (soon) distribute these fliers and door hangers to as many of his neighbors as he physically can. He had one goal in mind: educate his neighbors to get them involved.

We think his materials could use much wider distribution, so with his permission, we are presenting them here for download. Print off as many copies as you can afford and distribute them as widely as you can…spread the word to everyone. Let’s get EVERYBODY involved in the fight to end the lies and restore our Constitution and the rule of law in our country.

Flier

Door Hanger

Both files are in PDF format and are ready for the printer.

The Banking System Is Insolvent – October 1st, 2009

The entire banking system and likely The Fed, given the quantity of Fannie and Freddie paper it has been and is “eating”, is insolvent. These facts are why the government is lying – they’re well-aware of the near-zero cure rates and know that these facts mean that the banking industry has nowhere near sufficient capital to withstand these losses without folding like a paper cup getting stomped on by an elephant.

Well put and sadly true. Our entire banking system has been insolvent for some time, and this fact has been hidden from the public by a series of lies, misdirection and obfuscation. Read the rest at the link above.

Michigan Faces Government Shutdown (Again) – September 29, 2009

The thing is, it is unnecessary for us to have reached this point at all. Political posturing and stupidity are the reasons that we do not have a budget right now! The Republicans passed a balanced budget in June of this year. See for yourself here: http://www.senate.michigan.gov/sfa/StateBudget/AppropriationStatus.pdf At first it was ignored, and then the administration started cherry picking the most harsh parts of the budget and using scare-tactics to play up the idea that we’d be devastated if we passed this budget. Boloney! The fact is, Michigan is operating on a budget level that was based on millions more people and millions more jobs. We have been hemorrhaging residents and jobs for the past decade and it had done nothing but accelerate in the past 4 years. Now what we have is a government that is far bigger than is even remotely necessary for the number of residents of the state. This government MUST shrink. It also doesn’t help that Jennifer Granholm and her administration tell lies like, ‘We’ve cut everywhere we can,’ when clearly, she has done no such thing – she, and I DO lay the blame directly at her feet, has passed more pork, and more ridiculous increases in spending than any other governor this state has ever had.



Are there difficult cuts in this Proposal? Absolutely – but no more than we as residents have had to face in our personal and business lives.

Every person in the State of Michigan has had to examine their budget and drastically cut their spending. Individuals and businesses alike. There is no reason that this government should not or cannot do this as well. Call your Michigan Legislator and tell them to cut the crap (literally) and vote to pass the Budget Proposal we’ve had since June!

FedUpUSA will be blogging live from the Michigan Capitol Building’s gallery via Twitter all day. The link to follow us on Twitter is on the left.

The Debt Revolt Is On – September 28, 2009

Had enough with bailing out insolvent banks with your taxpayer money, only to have them stab you in the back? Then this video is for you.

Liberals seek health-care access for illegals – September 28th, 2009
Democrats give demands

Fearful that they’re losing ground on immigration and health care, a group of House Democrats is pushing back and arguing that any health care bill should extend to all legal immigrants and allow illegal immigrants some access.

Backdoor amnesty, followed by an immediate increase in benefits to those that are in our country illegally is being proposed by Congress.

How many times do we have to say NO before they understand us?

Perhaps we should fire up the fax machines, phones, and computers again and let them know our feelings on this issue, in no uncertain terms.

As Subprime Lending Crisis Unfolded, Watchdog Fed Didn’t Bother Barking – September 28th, 2009

The visits had a ritual quality. Three times a year, a coalition of Chicago community groups met with the Federal Reserve and other banking regulators to warn about the growing prevalence of abusive mortgage lending.
This Story

They began to present research in 1999 showing that large banking companies including Wells Fargo and Citigroup had created subprime businesses wholly focused on making loans at high interest rates, largely in the black and Hispanic neighborhoods to the south and west of downtown Chicago.

The groups pleaded for regulators to act.

The evidence eventually led Illinois to file suit against Wells Fargo in July for discrimination and other abuses.

But during the years of the housing boom, the pleas failed to move the Fed, the sole federal regulator with authority over the businesses. Under a policy quietly formalized in 1998, the Fed refused to police lenders’ compliance with federal laws protecting borrowers, despite repeated urging by consumer advocates across the country and even by other government agencies.

The hands-off policy, which the Fed reversed earlier this month, created a double standard. Banks and their subprime affiliates made loans under the same laws, but only the banks faced regular federal scrutiny. Under the policy, the Fed did not even investigate consumer complaints against the affiliates.

As always, read the rest of the story at the link above.

So, let me get this straight: The subprime lending crises happened NOT due to a lack of regulation, but due to a lack of investgation by the regulators? Someone should alert Congress, because they on The Hill seem to believe that we need MORE LAWS that will no doubt go unenforced in the future! I bet you already have their phone number, don’t you?