boston bean
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Sun Oct-23-11 09:44 AM
Response to Reply #39 |
| 40. Please watch the video, I think it will explain why Jim Moran says he has this power. |
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Without Congressional approval.
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| -Congressman: Obama should unilaterally ‘refinance every home mortgage’ |
boston bean |
Oct-23-11 08:34 AM |
#0 |
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Does the President actually have the authority to pull this off? |
Firebrand Gary |
Oct-23-11 08:45 AM |
#1 |
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According to Rep. Moran, he does. nt |
boston bean |
Oct-23-11 08:46 AM |
#2 |
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Moran is dead wrong |
ProgressiveProfessor |
Oct-23-11 09:02 AM |
#6 |
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What is the exact reason Obama can't do this? nt |
boston bean |
Oct-23-11 09:07 AM |
#7 |
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There are many... |
ProgressiveProfessor |
Oct-23-11 09:12 AM |
#9 |
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The majority are backed by Fannie and Freddie. nt |
boston bean |
Oct-23-11 09:18 AM |
#13 |
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Not relevant to existing mortages. |
ProgressiveProfessor |
Oct-23-11 09:21 AM |
#15 |
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I want to know why Obama can't do it? Exact reason why please. |
boston bean |
Oct-23-11 09:23 AM |
#19 |
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Already answered. What part of it do you not understand? |
ProgressiveProfessor |
Oct-23-11 09:26 AM |
#22 |
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Jim Moran says he can, your answer is not a real reason why he cannot. |
boston bean |
Oct-23-11 09:29 AM |
#25 |
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If Contracts and Constitutional Powers 101 are not enough for you, what would be? |
ProgressiveProfessor |
Oct-23-11 09:33 AM |
#32 |
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Jim Moran made the distinction in the video. Did you watch it? |
boston bean |
Oct-23-11 09:35 AM |
#36 |
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See post #43. Moran made a classic pol statement and you are misreading it |
ProgressiveProfessor |
Oct-23-11 09:55 AM |
#46 |
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I didn't add any personal opinion in the OP. In fact, I have barely had a personal opinion in this |
boston bean |
Oct-23-11 09:57 AM |
#48 |
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What is in it for the OWs |
selah775 |
Oct-23-11 01:48 PM |
#86 |
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Here is the rub as I see it. |
reformed_military |
Oct-24-11 10:45 AM |
#104 |
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What part of the Constitution prevents him from doing it? Contracts are ruled null and |
Exilednight |
Oct-23-11 07:33 PM |
#90 |
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By the judicial branch at the request of someone who has privty of contract |
ProgressiveProfessor |
Oct-23-11 10:35 PM |
#98 |
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Sure about that? |
Doremus |
Oct-23-11 09:50 AM |
#42 |
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Not sure, but I think that Fannie and Freddie own most of them due to the bail outs. |
boston bean |
Oct-23-11 10:14 AM |
#52 |
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What change? |
Pab Sungenis |
Oct-23-11 11:30 AM |
#69 |
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Not without enabling legislation and appropriations |
ProgressiveProfessor |
Oct-23-11 11:42 AM |
#74 |
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It already has the power. |
Pab Sungenis |
Oct-23-11 11:45 AM |
#77 |
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Lay that one out |
ProgressiveProfessor |
Oct-23-11 11:46 AM |
#78 |
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That would actually work. Create a bad bank, buy up the mortgages, lord knows the banks don |
Exilednight |
Oct-23-11 07:39 PM |
#91 |
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Where would the funding come from to buy up the mortgages? |
ProgressiveProfessor |
Oct-23-11 10:42 PM |
#100 |
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That's why you create the bad bank. n/t |
Exilednight |
Oct-24-11 07:09 PM |
#107 |
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The paperwork to create it does not mean the funding to do what you propose will appear |
ProgressiveProfessor |
Oct-25-11 11:06 PM |
#110 |
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it doesn't need funding, just short term borrowing power - which is |
Exilednight |
Oct-26-11 05:29 AM |
#111 |
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Tell that to the GM bondholders |
IndyPragmatist |
Oct-26-11 06:12 AM |
#112 |
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FDR created the h.o.l.c. |
StarsInHerHair |
Oct-23-11 08:53 PM |
#94 |
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It was done with the cooperation of the Legislative branch, not by executive fiat |
ProgressiveProfessor |
Oct-23-11 10:59 PM |
#101 |
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Wouldn't that be an indirect way of bailing out the banks -- again? |
no_hypocrisy |
Oct-23-11 08:49 AM |
#3 |
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Ask yourself why the banks aren't doing it themselves if it helps them so much... |
boston bean |
Oct-23-11 08:50 AM |
#4 |
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Yep. |
no_hypocrisy |
Oct-23-11 08:51 AM |
#5 |
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They're not doing ti because they want the full value of the original loan. n/t |
Exilednight |
Oct-23-11 07:41 PM |
#92 |
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This would crush the banks. |
Lucky Luciano |
Oct-23-11 09:31 AM |
#29 |
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Then in turn and as stated in financial reform |
Firebrand Gary |
Oct-23-11 09:39 AM |
#38 |
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It's the way the banks should have been bailed out to begin with. |
Pab Sungenis |
Oct-23-11 11:32 AM |
#70 |
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All I want for Christmas is this to be true and for Obama to do it. |
Firebrand Gary |
Oct-23-11 09:09 AM |
#8 |
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And many little girls want a pony |
ProgressiveProfessor |
Oct-23-11 09:13 AM |
#10 |
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really? and why is that Obama can't do it? Exact reason please.. nt |
boston bean |
Oct-23-11 09:17 AM |
#12 |
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Cited above...lets keep it in a single subthread |
ProgressiveProfessor |
Oct-23-11 09:22 AM |
#16 |
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I'll respond where I see fit, thank you. Just as you are. We can both do what we like. nt |
boston bean |
Oct-23-11 09:31 AM |
#28 |
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But the party of NO would say NO. |
Amonester |
Oct-23-11 09:17 AM |
#11 |
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Ah, he wants a dictatorship, |
MadHound |
Oct-23-11 09:21 AM |
#14 |
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He says Obama does have the power. |
boston bean |
Oct-23-11 09:23 AM |
#17 |
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And as discussed above, Moran is wrong |
ProgressiveProfessor |
Oct-23-11 09:24 AM |
#20 |
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It would require giving Obama the power to break private contracts, |
MadHound |
Oct-23-11 09:25 AM |
#21 |
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I'm not sure I see it as a slippery slope. there are many things he cannot do. |
boston bean |
Oct-23-11 09:27 AM |
#23 |
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You think POTUS can unilaterally break private contracts? |
ProgressiveProfessor |
Oct-23-11 09:28 AM |
#24 |
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I said Jim Moran said he can lower the rates unilaterally. That is what I am saying. nt |
boston bean |
Oct-23-11 09:30 AM |
#26 |
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That is not what Moran said...and POTUS can not unilaterally do it anyway |
ProgressiveProfessor |
Oct-23-11 09:32 AM |
#30 |
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What did Moran say then? What am I misunderstanding? nt |
boston bean |
Oct-23-11 09:33 AM |
#31 |
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In order to do so, he would have to break a private contract |
MadHound |
Oct-23-11 09:33 AM |
#34 |
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Many of these contracts that were done, were not on the up and up. |
boston bean |
Oct-23-11 09:46 AM |
#41 |
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The answer is still not a POTUS decree |
ProgressiveProfessor |
Oct-23-11 09:54 AM |
#44 |
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Why? nt |
boston bean |
Oct-23-11 09:55 AM |
#45 |
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Because he does not have the authority at this point to break private contracts |
ProgressiveProfessor |
Oct-23-11 11:43 AM |
#76 |
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That is not what Jim Moran is saying.... you need to listen again to his words. nt |
boston bean |
Oct-23-11 11:46 AM |
#79 |
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I did, typical pol sound bite, no details, not implementable, but made the news |
ProgressiveProfessor |
Oct-23-11 11:47 AM |
#80 |
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then you don't understand. |
boston bean |
Oct-23-11 11:52 AM |
#81 |
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No it is you who does not understand the current laws and how home financing works |
ProgressiveProfessor |
Oct-23-11 12:07 PM |
#82 |
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He admitted no such thing, in fact, he said the exact opposite of what you are interpreting. nt |
boston bean |
Oct-23-11 12:08 PM |
#83 |
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That still doesn't give him the power to break a private contract |
MadHound |
Oct-23-11 02:01 PM |
#88 |
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we'll have to borrow the money from China |
selah775 |
Oct-23-11 02:00 PM |
#87 |
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Agree. n/t |
lumberjack_jeff |
Oct-23-11 11:24 AM |
#67 |
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It is contemptible for a sitting member of Congress advocate for the transfer of power vested |
Chih |
Oct-23-11 09:23 AM |
#18 |
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ah-um: This $y$tem is... |
Amonester |
Oct-23-11 09:33 AM |
#33 |
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Correct, It would require some massive legal changes and is not possible today |
ProgressiveProfessor |
Oct-23-11 09:35 AM |
#35 |
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Let's make it become possible then. |
Amonester |
Oct-23-11 09:36 AM |
#37 |
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At least lets not foolishly claim it can be done today by POTUS decree |
ProgressiveProfessor |
Oct-23-11 09:53 AM |
#43 |
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I think you need to re-watch the video. He doesn't say what you are saying he did. nt |
boston bean |
Oct-23-11 09:56 AM |
#47 |
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He said what I described. He was a typical pol giving out soundbites |
ProgressiveProfessor |
Oct-23-11 09:58 AM |
#49 |
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He said what is written in the OP, and what he said in the video. Not your interpretation. |
boston bean |
Oct-23-11 09:59 AM |
#50 |
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Try again, this time with some clarity |
ProgressiveProfessor |
Oct-23-11 11:26 AM |
#68 |
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"It would devalue banks tremendously as they compete with |
socialist_n_TN |
Oct-23-11 10:45 AM |
#58 |
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Did I say it was a bad thing? |
ProgressiveProfessor |
Oct-23-11 11:35 AM |
#71 |
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Nope most of the exposure was to private mortgage banks |
socialist_n_TN |
Oct-23-11 07:23 PM |
#89 |
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If your assumptions are correct, I would tend to agree |
ProgressiveProfessor |
Oct-23-11 10:38 PM |
#99 |
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Helps a small percentage of the people with underwater mortgages |
FarCenter |
Oct-23-11 09:31 AM |
#27 |
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And which Congress, pray tell, is going to appropriate the money to do this? |
ThomWV |
Oct-23-11 09:39 AM |
#39 |
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Please watch the video, I think it will explain why Jim Moran says he has this power. |
boston bean |
Oct-23-11 09:44 AM |
#40 |
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Where's he going to get the 10 trillion $ |
dems_rightnow |
Oct-23-11 09:06 PM |
#95 |
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Love this idea. |
Kingofalldems |
Oct-23-11 10:03 AM |
#51 |
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Obama should unilaterally Mow my Lawn and Fix my Headlight.... |
NYC_SKP |
Oct-23-11 10:21 AM |
#53 |
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i take it you didn't watch the video? nt |
boston bean |
Oct-23-11 10:32 AM |
#54 |
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No, I read the transcript. I stand by my assertion that Wall Street won't let him do it. |
NYC_SKP |
Oct-23-11 10:36 AM |
#55 |
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Wall Street won't let him do it?? So they are more powerful than the POTUS? |
boston bean |
Oct-23-11 10:40 AM |
#56 |
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When has a POTUS without a sympathetic Congress EVER done anything so bold? |
NYC_SKP |
Oct-23-11 10:47 AM |
#60 |
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No one would ever know unless he was bold enough to try it, right? |
boston bean |
Oct-23-11 10:50 AM |
#61 |
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He lacks the basic authority to do anywhere near what you advocate |
ProgressiveProfessor |
Oct-23-11 11:38 AM |
#72 |
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Moran admitted what?? |
boston bean |
Oct-23-11 11:40 AM |
#73 |
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That legislation and appropriations were needed |
ProgressiveProfessor |
Oct-23-11 12:09 PM |
#84 |
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that is not what he said. in fact it was the opposite. nt |
boston bean |
Oct-24-11 07:36 AM |
#103 |
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Well that's the idea behind OWS isn't it? |
socialist_n_TN |
Oct-23-11 10:52 AM |
#62 |
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I think you're right except not sure he can legally do it. For sure he can't practically without US |
NYC_SKP |
Oct-23-11 11:05 AM |
#66 |
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I would hope our voices meant more. However that doesn't seem to be the case. |
boston bean |
Oct-23-11 11:43 AM |
#75 |
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He can not do it legally today |
ProgressiveProfessor |
Oct-23-11 12:10 PM |
#85 |
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this thread is awesome. |
dionysus |
Oct-23-11 10:45 AM |
#57 |
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Place does get fuckin' wacky some days, doesn't it? nt |
Codeine |
Oct-23-11 10:46 AM |
#59 |
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some people think the president could unilaterally; |
dionysus |
Oct-23-11 10:54 AM |
#63 |
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that is bologne. |
boston bean |
Oct-23-11 10:55 AM |
#64 |
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YUP! n/t |
Tejas |
Oct-23-11 11:01 AM |
#65 |
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I have a better idea than refinancing home mortgages. |
ms.smiler |
Oct-23-11 08:03 PM |
#93 |
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Question??? |
sweetapogee |
Oct-24-11 11:27 AM |
#105 |
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It can and I will explain. |
ms.smiler |
Oct-24-11 06:55 PM |
#106 |
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in a nut shell |
sweetapogee |
Oct-25-11 06:17 AM |
#108 |
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Like most homeowners I have a securitized mortgage. |
ms.smiler |
Oct-25-11 04:33 PM |
#109 |
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personally |
sweetapogee |
Oct-26-11 07:51 AM |
#113 |
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I think it is fairly easy for the court to review what MERS has done |
ms.smiler |
Oct-26-11 01:43 PM |
#114 |
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Rep Moran is the |
Nodak |
Oct-23-11 09:08 PM |
#96 |
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He is a good pol doing what pols do, including making sound bites for media |
ProgressiveProfessor |
Oct-23-11 11:01 PM |
#102 |
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But that would interfere with his next Wall Street bailout. |
Vidar |
Oct-23-11 09:26 PM |
#97 |
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