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Anna Eshoo, Enemy Of Cheap Housing


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by someone else     💰tip   follow   2008 Apr 10, 10:35am  

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I tried to reply to a spam mail Congresswoman Anna Eshoo sent me, but my reply bounced because communication with our "representatives" is apparently one-way only, so I'll post my reply here. I hope it helps her lose a lot of votes in the next election.

From: Patrick Killelea p@patrick.net
Date: April 10, 2008 4:50:51 PM PDT
To: ca14ima .pub@mail.house.gov
Subject: Re: Message From Rep. Anna G. Eshoo

NO NO NO!

STOP IT. STOP keeping housing UNaffordable.

We want CHEAPER houses, not more debt! Are you listening?

Do a poll. Everyone I meet wants cheaper housing. No one wants more debt!

That means you should do everything you can to REDUCE conforming loan limits.

Are you listening?

Patrick

Here's her spam to me:

On Apr 10, 2008, at 9:49 AM, ca14ima.pub@mail.house.gov wrote:

April 10, 2008

Dear Mr. Killelea,

On February 8th, the House and Senate passed an economic package designed to help stimulate the economy by assisting millions of Americans who are struggling in this downturn. This bill provides for tax rebates to 130 million households, including seniors and the disabled, along with tax deductions to help small businesses, and an increase in conforming loan limits for home mortgages to bolster the housing market. The legislation is a bipartisan effort and will specifically target those who need the resources most. Only those who have social security numbers and file their 2008 taxes will receive rebate checks. This leaves no loop-holes for undocumented immigrants to qualify.

The legislation has been sent to the President for his signature.

The following are important specifics of the bill.
(blather about giving away tax dollars what-a-good-girl-I-am deleted)

Housing Provisions
oThe package would boost the size of mortgage loans that the Federal Housing Administration could insure and that Fannie Mae and Freddie Mac could purchase.
oThe FHA loan limit would be permanently increased to a maximum of $720,750 from $362,000.
oFannie and Freddie's conforming loan limits would be increased for one year only to a maximum of $729,750 from $417,000.

This stimulus package is timely, targeted and temporary and represents an important first step toward stimulating the economy.

Sincerely,
Anna G. Eshoo
Member of Congress

#housing

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41   OO   2008 Apr 11, 6:23am  

And the sad thing is, Peter P, I don't even think that you are up there in the food chain to enjoy such state of "freedom". You are quite far removed from the powers who are enjoying the "freedom", so why are you defending it?

If I were up there with the powers, I would do everything I could to defend such a "free market". But since I am not, I would like to rattle the cage a bit and regulate the powers up there so there may a chance some day that I can end up at the top of the food chain.

Until then, I am not going to root for other people's causes. I root for my own cause, which is to redistribute the money from the top, gently to people like myself through regulation or whatever force we deem legitimate because we are in absolute larger number. But I don't want to rattle the cage that much because I am still quite satisfied with my social pecking order and I don't want to end up slipping.

42   Peter P   2008 Apr 11, 6:34am  

And the sad thing is, Peter P, I don’t even think that you are up there in the food chain to enjoy such state of “freedom”. You are quite far removed from the powers who are enjoying the “freedom”, so why are you defending it?

Perhaps because it makes no difference one way or the other? Our choice: self-serving politicians or self-serving businessmen.

Until then, I am not going to root for other people’s causes.

And you think regulations will actually work in your favor?

43   Peter P   2008 Apr 11, 6:35am  

If the people "up there" really prefer a truly free market, Ron Paul would have a lot more support.

44   OO   2008 Apr 11, 6:40am  

Regulations will actually work in my favor, because regulations will always have to take care of the the group in larger number, at least in a democratic society. Until I have amassed so much fortune that I start to become one of the 1% controlling 70% of the US wealth, I think regulation will work in my favor. By then, I will donate heavily to politicians through lobbyists for NO regulations whatsoever.

People "up there" never prefer a true free market. True free market does not exist in this world, get that into your head. People "up there" only want free market to their own advantage, which is exactly what we are seeing today. You can't argue that the mortgage market was not truly a free market in the last 5 years, it was as free as it gets. Is that what you want for everything?

45   OO   2008 Apr 11, 6:44am  

A democracy will never be put in real practice until we have self-serving citizens. Everyone thinking thoroughly through about what he wants, what he needs, what other people want and need and try to find a balance in between.

Democracy was obviously in hibernation in this country for the last 8 years since everyone was scared sh*tless because of 911.

46   Peter P   2008 Apr 11, 6:55am  

People “up there” only want free market to their own advantage, which is exactly what we are seeing today.

So you can be assured that any new regulation will also be an implementation of their version of Free Market. ;)

You can’t argue that the mortgage market was not truly a free market in the last 5 years, it was as free as it gets. Is that what you want for everything?

It was not free because people were not allowed to fail.

47   StuckInBA   2008 Apr 11, 7:20am  

My guess. Peter P simply makes a wild one-liner remark to pick an argument. There is always some intellectual basis to it, but ...

48   Peter P   2008 Apr 11, 7:23am  

The argument is quite relevant, don't you think? I thought the thread was about policy makers trying to decide what is good for the people. ;)

Look, I don't have to peddle Free Market. I can go back to sushi talks...

49   OO   2008 Apr 11, 7:24am  

I only know one thing: I, and people in my financial position are not the biggest beneficiary of the current "free market" or whatever market you want to call it. So I want a change. To be more precise, I want a change that will redistribute the X millions or billions that people "up there" make to the rest of us, even if I don't get the biggest stake in the redistribution of wealth.

Why do I want such a change? Because I don't think the people "up there" deserve their millions. I have no problems with Warren Buffet, Steve Jobs or even Bill Gates making whatever they made, I have lots of problems with Wall Street making what they make.

50   Peter P   2008 Apr 11, 7:33am  

I have no problems with Warren Buffet, Steve Jobs or even Bill Gates making whatever they made, I have lots of problems with Wall Street making what they make.

Who are you to judge? ;)

My moto:

Nobody deserves to have anything. Everybody deserves to get anything.

51   BayAreaIdiot   2008 Apr 11, 7:40am  

Peter P

I want to say in advance that I'm not trying to be offensive - I only jest.

But every time you get on your free market "high horse" followed by nihilism, when challenged, I have an almost uncontrollable urge to quote Inigo Montoya:

"You keep using that word. I do not think it means what you think it means"

52   Ed S   2008 Apr 11, 7:51am  

Peter P,

I don't comment frequently (but read every thread). I value your contributions and don't want to seem like I'm piling on but I need ask (and sincerely ask) do you really believe the comments you make? Do you really believe that:

Pay packages are determined by the market.

or

They (Shareholders) can fire the board who approves the pay.

Tell me the truth, Peter P, you don't really believe these, do you? You're really just a fun loving Randian/Libertarian who enjoys throwing out baiting comments for grins, right?

Right?

53   Peter P   2008 Apr 11, 7:55am  

Well... I will leave you guessing. ;)

54   DennisN   2008 Apr 11, 8:18am  

Maybe the 2nd Amendment exists for the purpose of culling the income outliers.

Hey to heck with sushi. Local corn (from greenhouses here) is on the market. Fresh corn and BBQ pork tonight! :)

55   Peter P   2008 Apr 11, 8:24am  

Fresh corn and BBQ pork tonight!

What marinade?

56   danville woman   2008 Apr 11, 8:30am  

To capitalize on the rising Chinese renmimbi, try
www.everbank.com They carry the renmimbi (yuan) as a currency play. The transaction is expensive .75% to buy and another .75% to sell but it may be worth it if one holds it for a while. The bank is FDIC insured.

57   OO   2008 Apr 11, 8:39am  

Honestly I would not touch Everbank's Yuan deposit.

Yuan is NOT a freely convertible currency. I wonder how Everbank achieves that, legally that is. All exchange in and out of country is strictly controlled by the Foreign Exchange Bureau, which doesn't allow individuals to exchange more than ~$2500 worth a day pp for investment purposes.

Also, the upside of Yuan is very much capped. I predict the most it will go is around 6.5, there is already massive factory bankruptcy in southern China (so far more than 5000 factories went under, median size employing several hundred workers each).

So buying Yuan may make you a patriotic American because you are pushing up Yuan and driving down USD so as to slow down outsourcing, but that may not make you a happy investor in a year or two.

58   DennisN   2008 Apr 11, 8:47am  

Peter,

Tonight I'm just experimenting by brushing on Otafuku Yakisoba sauce. Regular grocery store BBQ sauces have too much sugar in them and all they do is burn. I'm offset flame slow-BBQ cooking so-called country-style ribs (sliced pork shoulder).

59   Peter P   2008 Apr 11, 8:49am  

Yakisoba is a good sauce. For corn, just a touch of light soy sauce is good too. :)

60   Peter P   2008 Apr 11, 8:53am  

I wonder how Everbank achieves that, legally that is.

I don't know. Perhaps they are using cash-settled futures contracts?

http://chicagomercantileexchange.org/files/renminbi_factcard.pdf
http://quotes.ino.com/chart/?s=CME_RMB.K08.E

61   DennisN   2008 Apr 11, 8:58am  

Good corn needs nothing. Europeans claim the American's habit of eating corn-on-the-cob as proof that we are barbarians who eat animal feed. Obviously they are confused.

62   OO   2008 Apr 11, 9:01am  

The key is, if Yuan tanks, it is very hard to redeem.

If I expect a worldwide recession / depression, I won't want to put my money in a politically unstable, resource-stricken (per capita) country.

63   Peter P   2008 Apr 11, 9:01am  

Europeans claim the American’s habit of eating corn-on-the-cob as proof that we are barbarians who eat animal feed.

Only barbarians eat raw meat (fish). :)

64   DennisN   2008 Apr 11, 9:03am  

The Japanese are Americans???? :confused:

65   Peter P   2008 Apr 11, 9:03am  

OO, brokerages are failing left and right in Australia. How about Channel Islands and Isle of Man?

66   OO   2008 Apr 11, 9:09am  

At least Australian government is letting the weaker hands fail, isn't that the free market you want :-)

I wouldn't call it failing left and right because the two that failed are not part of the big consortiums like Macquarie, which the Aussie government banks with. I have no sympathy for those who parked their money with the small guys, that is the risk they should be prepared to take.

67   Peter P   2008 Apr 11, 9:13am  

At least Australian government is letting the weaker hands fail, isn’t that the free market you want

True. ;)

68   DennisN   2008 Apr 11, 9:18am  

Speaking of cheap US oil reserves.....

www.usgs.gov/newsroom/article.asp?ID=1911

The US may be the Saudi Arabia of both food and oil.

69   BayAreaIdiot   2008 Apr 11, 9:26am  

DennisN

are you able to put that number of billions of barrels of oil in context? Do you know how much Saudi Arabia has for example? I read that part where it says the estimate is now 25 times what it was in 1995, and was reminded of one of the main arguments against "peak oil".

70   justme   2008 Apr 11, 9:42am  

OO,

Four or five amens (and maybe an Ave Maria thrown in) for the "free market". I think I'm going to start quoting that pesky expression ALWAYS.

71   justme   2008 Apr 11, 9:55am  

>>Europeans claim the American’s habit of eating corn-on-the-cob as proof that we are barbarians who eat animal feed.

I think this is quite far from being a general european sentiment. Not that it was meant in seriousness??

72   Peter P   2008 Apr 11, 10:06am  

I have respect for all cuisines. I am even nice to vegetarians. ;)

73   EBGuy   2008 Apr 11, 10:30am  

are you able to put that number of billions of barrels of oil in context?
Mean estimate for technically recoverable oil is 3.65 billion barrels in the Bakken Formation. The United States uses around 20 million barrels per day, so this is around half a years supply. Hurray, we're saved! Peak oil has been put off by half a year in the US; my kids are jumping for joy -- well, I will admit, every little bit does help.

74   Brand165   2008 Apr 11, 10:37am  

OO says: I only know one thing: I, and people in my financial position are not the biggest beneficiary of the current “free market” or whatever market you want to call it. So I want a change.

I think the present system is a pretty good one. I'm not baiting an argument, either. My grandparents were factory workers. In the space of two generations since then, we've become entirely white collar through education and hard work, pushing well past the median American income.

Who gives a shit what CEOs make? Really. It's a superficially interesting but ultimately irrelevant factoid like the distance to the moon measured in stacked pennies. My family's standard of living has increased tremendously in the last many years, and disproportionately to the opportunities in other countries via means that are widely available to everyone in America. Thanks to the opportunities provided by our culture, our welfare has increased tremendously even compared to our prior peers. In fact, the welfare of my family is influenced by CEO pay about the same as it's influenced by the price of wheat on Mars.

You can get as inflamed as you like about CEO pay, but it's a fact of doing business in a world of multibillion dollar companies. As obscene as their compensation might seem, it is a drop in the bucket of our vast economy. We non-CEOs should be concerned about fundamental issues like broad health insurance and high quality education. Dashing up to peer through the gilded gates is an exercise in pure jealous futility.

Be happy with what you have in an absolute sense. If you make it relative to the top 1%, then nobody is ever going to be happy (and maybe that's already happening in our New Gilded Age culture).

75   justme   2008 Apr 11, 10:47am  

Brand,

If CEO compensation is just a drop in the bucket (and I do not think it is), then please arrange for a few drops being sent my way. I would not mind at all.

I'm squarely in agreement with OO on this one.

76   Peter P   2008 Apr 11, 11:00am  

If CEO compensation is just a drop in the bucket (and I do not think it is), then please arrange for a few drops being sent my way. I would not mind at all.

Yeah, that few drops will be shared by thousands of minions like you. Enjoy! :)

If you think CEOs are too highly paid, perhaps you should try to become one. If you can't, perhaps they are not too highly paid after all.

77   justme   2008 Apr 11, 11:04am  

Peter P,

Proves my point exactly. It is *not* just a "drop in the bucket" if everyone gets a fair share.

78   Peter P   2008 Apr 11, 11:07am  

If I were you, I would be more worried about my peers getting more than myself.

I much rather have an advantage over my resource competitors. I don't care what happens "up there in the food chain."

The failure of your competitors is as good as your own success.

79   Peter P   2008 Apr 11, 11:08am  

It is *not* just a “drop in the bucket” if everyone gets a fair share.

No, it is not "drop in the bucket" because everyone gets a tiny fraction of a drop in order for it to be "fair."

80   Brand165   2008 Apr 11, 11:14am  

justme, perhaps you could clarify. To me, it seems that if a CEO over 1000 people gets a $1M bonus, then if that were divided among his people that would be $1000/person. Hardly an impressive number.

From a corporation's perspective, a CEO's compensation is a very small amount of revenue and profit (or should be, otherwise the Board should be summarily voted out). The primary value of a CEO is as a figurehead and example. From the hundreds or thousands of managers in a company, only a tiny few will become CEOs. But the mere existence of that pile of gold at the end of the rainbow inspires tremendous hard work from the middle echelons. Hence I would argue that the corporation's ROI is actually quite strong by providing a generous pay package to their CEO.

I am far more offended by CEOs taking home any bonus in a year where their investors got hammered or their workforce was heavily slashed. A corporation exists as a money-making enterprise (from the capitalist perspective) and as an employer (from the social perspective). If it fails in either or both of those responsibilities, then its leaders deserve no gestures of gratitude from the people generating the revenue or footing the bill.

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