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Tag:Vikings
Posted on: November 15, 2008 10:28 am
Edited on: November 16, 2008 9:39 am
 

Take me! Both of you...Ravage me!

Her red dress was cut low revealing her ample breasts.  They were perfect and she was so sultry in comparison to the other Pelosi-esque women in the room.  Every eye was upon her and she knew it.   Even savored it.  She was fresh from Paris and her gown was from the finest couture on the Champs Elysses.  It had been custom cut to reveal her finest assets and she tingled the first time she put it on.  The silk slid enchantingly into place across her shoulders and torso.  Caressing her delicate skin as it fell to just above her knee.  She was excited and frightened at the prospects that may come that night.  She knew she would be impossible to miss and would attract the attention of every suitor in the ball room.

She was surprised to receive her invitation to the ball.  She did not know her hosts personally, only in name and reputation.  On a whim she decided to go and treat herself to the pleasures of being a desirable woman.  So she treated herself to a new dress, lingerie, and shoes.  A new clutch, a makeover....she was ready.

The eyes of everyone turned to her when she walked in unescorted.  The gentlemen failed to hide their delight and the ladies hissed under their breath.  The room was electric and a pang of regret twisted in her stomach.  Now she wasn't sure she wanted the focus of hundreds of pairs of eyes.

A waiter glided by to the sound of the string quartet with champagne, yielding a flute with a flirting smile. She could see the sharks positioning themselves for their passes, ever closer they circled. 

The first gentleman to introduce himself was Congressman George Miller from California.  He was a charming man though considerably older than her.  She indulged him as a harmless gentleman trying to rekindle his youth by flirting with a younger woman.  He exuded power and he made no attempt to hide it.

A second suitor inserted himself into the conversation.  He introduced himself as Jim McDermott also a Congressman but from Seattle.  The two gentlemen knew each other and exchanged a playful nod.

She was swept away by their charm as they talked and danced away the evening.  They both offered to escort her home in their limosines but then suggested they go for more drinks with a smaller group of friends from the ball.  She was having so much fun she decided to enjoy the evening and agreed.  Both Congressmen joined her in the car and off they went. 

She wasn't sure which one kissed her first but it was passionate and soft. And she felt another pair of hands caress her legs.  The passion increased and the two men began to ravage the beautiful woman.  She awoke the next morning to find her beautiful clothes were torn, her hair and makeup were ruined and the conquerors were gone.  She felt like so many things had happened and that something had been stolen from her.  She was bewildered and began to cry.

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No this is not an excerpt from a tawdry romance novel.   Sorry boys, back to half mast.

My last blog entry was about a lady named Teresa Ghilarducci from New York's New School for Social Research who suggested the 401K plan should be scrapped.  More on that subject appeared in the WSJ yesterday that I thought required sharing with you all. 

The Congressmen above are real and the lady in the red dress is your 401K.  Rep. Miller, D-California, chairs the House Education and Labor Committee.  While Rep. McDermott, D-Washington, chairs a House Ways and Means subcommittee on income security and family support.

"Before election day the congressmen began to target the $3 trillion in the 401(k) accounts held by 60% of Americans.  Mr. Miller called the system an inadequate vehicle that has not been terribly successful in encouraging retirement savings.  He wants a whole sale re-examination of the pensions."

"The Chairman has also signalled greater ambitions.  At a hearing last month, Mr. Miller put the 401(k) into play.  Under the current system, employers match employee contributions that aren't taxed until redeemed, an indirect subsidy worth $80 billion today.  'We have to start to think about in Congress...whether or not we want to continue to invest that $80,000,000,000 for a policy that is not generating what we now say it should.'  Mr. Miller said, ' For a taxpayer investment of this size, we must ensure that the structure of 401(k)s adequately potects the nesteggs of particpating workers.' "

 His committee listened to Ms. Ghilarducci's ultra left social policy discussion to scrap the 401(k) and let the government mind our money for us.  Yes folks it happened.

"The main liberal objection to the 401(k) seems to be that they let the average American control their own investment decisions for retirement.  As Shlomo Benartzi, a professor at UCLA's Anderson Business School, told Mr. Miller's committee, "Individuals have a tendency to buy at the peak, and then panic when the markets drop and sell at the bottom."  Better to have the government do it instead."

 For those of you reading this thinking, yeah, the government would give us a safe return, well Social Security earns between 1 and 2 percent since its inception which is losing to inflation bigtime.

People are attached to their 401(k)s because it is their property, which they can carry with them to new jobs, manage as they see fit and bequeath to their heirs.

Before entertaining dreams of state managed retirement accounts, Congresssional Democrats might ask why Europe and Latin America have tried so hard in recent years to move in the opposite direction.  Their pension systems are debt ridden, can't easily adjust for demographic shifts and show a  historically lower return.

If Democrats want a return to improve the prospects for American retirees, their first priority should be removing barriers to economic growth.  Anger over the drop in 401(k) balances is one reason that voters who belong to the investor class swung to Deomcrats in greater than usual numbers this year.  Their mandate is for policies that improve those returns, not strip them of tax benefits.

An intelligent discussion would be  - is Obama listening to these Democrats or not?  He has voted left every time as a Senator.

I think some of you nice fellows should have asked the beautiful lady in the red dress to the ball to keep her away from the sharks.  Anybody willing to do that?  Call your congressman and senator and tell them hands off your ladies  - 401(k).

I need a cold shower.....anyone want to join me.

Posted on: October 9, 2008 2:56 pm
Edited on: October 9, 2008 2:58 pm
 

You know what makes me HOT???

Sexy men sure do.  Sexy women absolutely.  People who lie to gain power makes me hot - but this under the collar not where I like it. But what really makes me HOT is when people are too blind to demand the truth and too stupid to ask the right questions.  If you have been paying attention you probably know there is a blame fest in Washington with regards to the credit and banking meltdown.  The other night I heard Obama blame McCain and Bush for the troubles.  I heard McCain blame Democrats.  Blame is not the answer folks.

In the banter and bickering the fourth estate, the press, has failed to ask the right questions.  Failed to get to the bottom of it.  In fact the New York Times has become a Democrat Rag regurgitating party doctrine as gospel and failing to perform any investigation into the mess. The New York Times is fast fading as a journalistic icon, a bastion on truth, they are less reliable than the National Enquirer!  But this is downright ridiculous.  The same paper that is ripping the Republicans for the mess ran this article in 1999.   Look it up, its there.

FANNIE MAE EASES CREDIT TO AID MORTGAGE LENDING By STEVEN A. HOLMES 
New York Times,September 30, 1999.

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.

Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.
''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''

Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market.

In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.

''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''

Under Fannie Mae's pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 -- a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped.

Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.

Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic whites.

Home ownership has, in fact, exploded among minorities during the economic boom of the 1990's. The number of mortgages extended to Hispanic applicants jumped by 87.2 per cent from 1993 to 1998, according to Harvard University's Joint Center for Housing Studies. During that same period the number of African Americans who got mortgages to buy a home increased by 71.9 per cent and the number of Asian Americans by 46.3 per cent.

In contrast, the number of non-Hispanic whites who received loans for homes increased by 31.2 per cent.

Despite these gains, home ownership rates for minorities continue to lag behind non-Hispanic whites, in part because blacks and Hispanics in particular tend to have on average worse credit ratings.

In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups.

The change in policy also comes at the same time that HUD is investigating allegations of racial discrimination in the automated underwriting systems used by Fannie Mae and Freddie Mac to determine the credit-worthiness of credit applicants.

Now which is it New York Times?  Is it Bush's fault?  Is it the Republican's fault?  Is it the Democrat's fault?  You are irrelevant!! Americans- Stop expecting government to solve your problems.  Take responsibility for your actions.  Stop spending money you don't have.  Hold your politicians accountable for their spending. Vote them all out of office.  For everyone who added pork to the bailout bill - you should be recalled immediately for your reprehensible behavior and greed.  It was not that long ago when a poor person had too much pride to even ask for help.  In 2008 there is nothing a poor person is NOT entitled to and they have very little if any pride.  Work for your living. I think I am going to makes some love now. Smorgie
 
 
 
 
 
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