Archive for October, 2008



October 13, 2008

The crippling financial crisis being felt globally…and conveniently being blamed on the Bush administration is actually Democrat initiated and Democrat supported. The whole issue is in truth and in fact solely triggered by the sub prime lending woes – the mechanics of which are seemingly too complicated for an ordinary citizen to even try to comprehend and understand … an issue which is now conveniently exploited by the Democrats to their political advantage in this presidential elections. The Democrats knew they can easily hoodwink the ordinary suffering citizen into believing that the Republicans should be faulted for all the misery. The sorry and miserable plight of the citizenry makes them susceptible to calls for changes and this is exactly what the Democrats are doing – exploiting the miseries of their fellow Americans!

Let us try to understand the root causes and beginnings of this financial crisis.

Everything that we are encountering now a days,,,, widespread foreclosures, paralyzing credit crunch, bankruptcies, and the over-all slack in the economy, are all solely triggered by one problem …the problems with sub prime mortgage industry’s?

Just what are these subprime woes and how did they come about?

Normally to spur economic growth, the Fed would entice industries to grow their businesses by making available credit facilities at low lending rates through the banks. The Fed started cutting rates in 2001 at the time when the country was in a recession. The lowest point the Fed rates reached was at 1% in 2004 which after inflation, actually yields negative interest rates. As a result of this, mortgage rates also went into all time lows. This was normally followed by an increase in borrowing and lending because people are apt to take advantage of the low interet rates .

Meanwhile, the real estate boom started in 2000 with property values rising as much as 50%. The cut in Fed rates from to 2001 to 2004 coincided with the boom further fueling increases in new real estate projects. Low interest loans had to be extended by banks and new housing projects have to be sold.

The rise of the housing industry into a bubble (where the prices of real estate properties are higher than their actual intrinsic values) is actually a regular economic cycle occurrence. What made it irregular is the fact that at the onset of the boom in the housing industry sector, sub prime lending was also being done with careless abandon by the banks. (Sub prime lending are mortgages extended to individuals deemed as “sub prime” or high risk individuals – people who have little or no capacity to pay.)

It must be remembered that In 1995, it was President Clinton who mandated new regulations that coerced banks to make significantly more subprime loans to inner-city residents previously viewed as unqualified buyers in high-risk areas. Banks were even rated on how well they complied and faced big fines if they didn’t do what government regulators wanted.The House Financial Services committee meets. Committee members sit in the tiers of raised chairs, while those testifying and audience members sit below.Image via Wikipedia

To make matters worst, the Democrat dominated legislature after Clinton’s term allowed the two big giant mortgage companies Fannie and Freddie to package the risky sub prime loans together with regular prime mortgage loans into mortgage backed securities which were passed off to investors as safe investments since both Fannie and Freddie were government sponsored. These mortgage backed securities were gobbled up by both local and international investors. The inflow of capital from these securities made Freddie and Fannie buy more and more of the risky sub prime loans as the demand for their mortgage backed securities also increased. Banks on the other hand also aggressively extended more and more loans to high risk individuals since they can always sell them back to Fannie and Freddie. And when the inevitable happened… when sub prime mortgage defaults started to mount and mortgage foreclosures started to rise, the mortgage backed securities of Freddie and Fannie lost their luster. Banks started tightening by 2007 and the ensuing credit crunch was simply paralyzing.

And what was government doing all these time? After Clinton, the Republicans took over. What have the Republicans done? Or,did they do anything at all?

Today, very few people remember the fact that it was President Clinton (a Democrat) who mandated that sub prime lending to be offered extensively by banks in 1995.PaulsonFreddieFannieImage by robertodevido via Flickr

Very few people knew the fact that with the predominantly Democrat legislature after Clinton, Freddie and Fannie were practically allowed to perpetrate this pyramiding scam on the American people. Many even try to forget the fact that Freddie and Fannie were major campaign contributors to the political campaign kitty of known Democrats who have been their patrons in the government, the list of which includes Barney Frank, Chris Dodd, and Barack Obama. It’s quite ironic that now with the unexpected dismal turn-out of their own political follies, and with a likelihood of a financial meltdown staring us in the eye, the Democrats are still able to throw blame on President Bush and the Republicans.

I am neither a Republican nor a Democrat, but I find it abhoring to hear the double talk in Obama’s political campaigns blaming Bush and the Republicans for the economic ills they themselves perpetrated!

Take a look at this chronology of events leading up to current crisis and decide for yourself who should be blamed for this crisis: (- from the Investor’s Business Daily Editorial)

April 2001: The Bush administration’s fiscal budget stated that the size of Fannie and Freddie was “potential problem because financial trouble of a large Government-Sponsored Enterprise could cause repercussions in financial markets, affecting federally insured entities and economic activity.”

May 2002: The Office of Management and Budget wanted disclosure and governance principles in Bush’s 10-point plan for corporate responsibility to apply to Fannie and Freddie.

February 2003: A federal housing oversight report warned that unexpected problems at Fannie Mae could immediately spread into financial sectors.

September 2003: Treasury Secretary John Snow, in testimony to the House Financial Services Committee, recommended that Congress enact legislation to create new agency to regulate and supervise financial activities of housing-related government entities to set prudent and appropriate minimum capital requirements.

Rep. Frank, the committee’s ranking member, strongly disagreed, saying: “Fannie Mae and Freddie Mac are not facing any kind of financial crisis . . . . The more people exaggerate these problems, the more pressure there is on these companies, the less we’ll see in terms of affordable housing.”

February 2004: The president’s new budget again highlighted risks of the explosive growth of these government enterprises and the then-low levels of required capital. It also called for the creation of a world class regulator. The administration determined that housing regulators of government agencies lacked the power and stature to meet their responsibilities and should be replaced with a strong new third regulator.

February 2004: Greg Mankiw, chairman of Bush’s Council of Economic Advisers, cautioned Congress against taking the strength of financial markets for granted. He too called for reducing the risk by ensuring that housing GSEs are overseen by an effective regulator.

April 2004: Rep. Frank ignored warnings, accusing the administration of creating an “artificial issue.” “People pay their mortgages,” he told a group of mortgage bankers. “I don’t think we are in any remote danger here. This focus on receivership, I think, is intended to create fears that aren’t there.”

From 2004 to 2008 the Bush administration made 12 more attempts to get Congress to pass legislation to have safer, sounder regulatory oversight of Fannie and Freddie and capital rules. You can see them for yourself on the White House Web site. But here are a couple of examples that show how Democrats resisted:

July 2005: Senate Majority Leader Harry Reid rejected legislation on reforming Fannie and Freddie. “While I favor improving oversight by our federal housing regulators to ensure safety and soundness, we cannot pass legislation that would limit Americans from owning homes and harm our economy in the process,” he said.

August 2007: Sen. Dodd, another Democrat, ignored President Bush’s emphatic calls for Congress to pass Fannie and Freddie reform legislation and called for him to immediately reconsider his ill-advised position.

Wake up America, Indeed!

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Back To Basics Of Blogging

October 9, 2008

What a way to start the week! I got an e-mail from entrecard saying my accounts have been deleted for multiple violations. At first I panicked! 45% of my daily site hits come from entrecard members dropping ec’s on my site! I frantically tried to contact support to try to appeal the case. One of the reasons they deleted my account was for having a pop-up advertisement that plays audio on openning. Actually I wasn’t aware of such an ad but I do know I have a linkword ad with Linkworth which was just recently approved. I received an email saying the ads will be coming out soon. I never really see the ads. I presume the ads are one of those that pops up only for selected ip addresses. Other than this, I don’t know of any applications or widgets or posts in my sites that plays automatic audio. I tried posting a video from Floglo one time but when I noticed it affected the loading time of the site, I deleted the post. The other reason they gave me is for copying content from another site (plagiarism?). In one of my posts (THE BILL AYERS FACTOR IN THE COMING ELECTIONS!), I quoted sections from Wikipedia but I was careful enough to cite the source and even put a link to the site. But, ahh, they still considered this as plagiarism. (I thought Wikipedia is public domain and you are free to cite data and information sources from it?). The other reason they gave me is for not having original content….for plagiarising myself! I have two mirror sites for Swirling Thoughts and they are deleting my EC account for posting similar contents on all three. (I would have gladly deleted my mirror sites had they asked me!) My intention was to nurse all three sites until I am able to generate sufficient readership for each one of them for me to decide to spin them off with their own unique content and identity. And it’s kind of funny that EC had to do this to me after that controversial post on Bill Ayers and his links to Obama when I have had my EC account for the past two months..

Anyway, after a while of pondering and sulking for a while, I went to my site analytics and saw that there is still the other 55% non-entrecard visits. My hopes surged once more. A close look at the stats showed that these are unique visits – Mostly coming from my Blog Catalog and Mybloglog communities. These visits are real visits…with purpose…to look at the site that attracted them on the onset from the dashboards of the two social networks.

This made me realize that EC is not a great loss after all. In fact, EC provides artificial website traffic since 90% of the visits are for EC dropping only and the droppers would be in your site only for a few seconds and that’s it! To me, this defeats the purpose of blogging. So, I am now back to basics….which is to keep on writing good posts that are relevant and would rouse the interest of site visitors. I believe there is no better way than this because people visit a site a second and a third time (even subscribe to its feed) because they like the content.

I did some SEO work on all three sites and subscribed to Google analytics. I also decided that this will be my last common post on all three sites. I will start creating a unique identity for each of my sites. Swirling Thoughts ( will be about my random thoughts on life and will delved on general topics of interest to all – sort of a personal journal. Traders Hub ( shall have contents solely about online investing, foreign currency trading, and forex scam. Big Daddy’s Trunkated Ideas ( will deal on general business topics and political insights.

So for those who have been following my blogs and my topics you may need to visit all three sites after this post to get all of Big Daddy’s ideas (LOL)! But ahh, I will install my content widgets on all three sites so that if there is any post that may interest you from myother sites you can just click on the link!

I wish to thank all those who have supported my blogs for the past two months and hope that you will continue visiting my sites. I will strive harder to bring you contents which will be useful and of interest to all of you.

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October 4, 2008

Image representing Google as depicted in Crunc...Image via CrunchBase

This is definitely a ‘must have’ tool for all bloggers!
Every time I write a post, I have to do a google search for images to use to spice up my write-ups. I also often struggle to choose the right tags that will optimize the visibility of my posts with various search engines. Many times, when I do a google web master tool analysis of my sites, I am always swamped with error messages that say the labels I used are preventing google bots from effectively crawling my sites. At times the google bots return “url not found” crawl errors. Well, all these will be history from now on (I hope) because I literally “Stumbled” on a website which provides an amazing application that works well with any hosting platform. This is Zemanta!
Image representing <span class=Zemanta is a free ware browser plug-in which creates smart links, provides contextual pictures and images, suggest proper tags to use for your post. The most beautiful thing about this plug-in is that it does all of the above as you are typing your write up. So,by the time you finish up typing, you have the links, the tags,and the images all ready to be selected with a simple mouse click. Cool indeed! Zemanta makes blogging effortless and fun! Downloading the plug-in and installing it is also a breeze.

This is my first post using Zemanta and I hardly can wait to see how the end product turns out. Try it yourself and see what I mean. Here is the link to the website where you can download the plug-in – You will never regret installing this application! But please do me a favor and return to this post to give me your feedbacks/comments on how you are doing with Zemanta. (You can always uninstall it anyway in case you find it not to your liking.) Cheers!

Important Note For Bloggers: When you click a Zemanta suggested image from the Zemanta sidebar for use in your post and publish it for the first time, you will always get an error that says “your HTML can not be accepted”. Simply click the box just below this error message that says ‘Stop showing title or body HTML errors for this post” and click the publish button once again.

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Blogger Banner Exchange – Make Your Visit to My Site Worthwhile!

October 4, 2008


I am barely two months now as a blogger. And like any other upstart blogger, I want to improve traffic to my site and at the same time improve my ranking with such sites as Technorati, Alexa, Google, etc. (You guessed it right! I also want to monetize my blog.) My membership with Entrecard (with their “U drop I follow promo) is helping my daily traffic a lot up to now. (A million thanks to all of my regular EC droppers!) My Mybloglog and Blogcatalog memberships are also doing me a lot of good in accumulating quality readers, gaining good friends and establishing new contacts. To help myself and other upstart bloggers just like me who visits this site, I thought of adopting a “Banner Exchange” program of my own and make the visit worth your while. I found out about this from being a co-sponsor to a blogger friend’s blog contest (Help Children – Win EC credits – see the post below with the same title). When the contest got underway and banners and linkages were posted, my ranking improved a lot. For my Trader’s Hub Site, from an Alexa ranking of 1,036,00, it improved to 782,000 while my Technorati Authority jumped from 4 to 14!

It is simple and it will do wonders for your blogs. We exchange banners and our links become more permanent and more visible to Search Engines. (I noticed that subscription to rss feeds is not really helping much to boost our ranking.) All you need to do is reserve a section in your side bar or your footer and post my banner code there. I will even make it easier for you by making the banner for you – I will make the banner for you using a screenshot of your site ( or your EC banner if you have one!) Here’s what you need to do:

1. Copy the code of any of my banners below and paste it in your site.
2. Click the pen icon at the end of this post and post a comment indicating whether you want a new banner or if you want me to use your EC banner ( if you have any). Please post your URL and email address too.
3. Post a message in my shoutbox (at the sidebar) after you’ve done steps 1 & 2 and you are done.

Every time a new member subscribes to our exchange, I will be sending all of you an updated code so you can update your own. For this site, I placed the banner exchange at the sidebar!

<a href=””><img src=”; border=”0″ width=”125″ height=”125″ alt=”Powered by” /></a><br />

<a href=””><img src=”; border=”0″ width=”125″ height=”125″ alt=”Powered by” /></a><br />

<a href=””><img src=”; border=”0″ width=”125″ height=”125″ alt=”Powered by” /></a><br />




October 2, 2008

What a nasty situation U.S. congressmen are finding themselves in courtesy of the $700M financial bail-out plan. The U.S. senate has now passed on the ball to the U.S. Congress after approving a sweetened version of EESA to force another showdown at the lower house. Lobbying is being done around the clock to insure the passage of the bill. Concessions from both parties are being offered and accepted without hesitation or second thoughts. And why not, everyone was a given a terrifying preview of what might happen again if approval of the modified Emergency Economic Stabilization Act of 2008 is once more derailed. The 778 points Dow dive last Monday after Congress failed to pass the bill, sent a terrifying reminder to everyone concerned. The spill off effect in other bourses worldwide was just as unnerving.

A lot of finger pointing ensued in the aftermath of the failed passage of the bill. Had the congressmen simply done their jobs clean without the unnecessary political grand standing and uncalled for fire brand speeches aimed at gaining political advantage over the issue, the Dow would not have dropped that much. The current scenario is a chilling reminder of the stock market crash of 1929. Stocks started to nose dive on October 24, 1929 – Black Thursday. Leading Wall Street Bankers tried to remedy the situation by pooling their resources together. Their efforts failed resulting into the now infamous Black Tuesday Stock Market Crash of October 29, 1929. This pulled down the country into the era of the Great Depression.

We may really see a repeat of 1929 , and, what a friend and fellow blogger aptly termed as “The Collapse of The House of Card.” The effect will be felt in all corners of the globe and will be long lasting. Recovery will be slow and painful.

The congress men who will once again shoot down this bill come Friday will be praised by the growing number of their discontented constituency. But, will they be willing to put in their hands the blame for not doing anything to prevent another Black Friday scenario in the U.S. I doubt it. On the other hand if they choose to support the bill and pass it, they may prevent a world wide financial crisis but they risk the chance of not being voted back into office by their disgruntled constituents.



Bonuses and Freebies for Online Gambling Enthusiasts

October 2, 2008


If you are an online casino enthusiast or a ‘wannabe’, this site is a “must –see first” for you –!

I am not much of an online gambling afficionado myself, but sure as daylight I want to get the best deal for my money every time I indulge into it. is not a gambling site per se! What it does is offer value –added services for online gambling enthusiasts. It serves as a portal or a gateway to the best and the most trustworthy USA online casinos in the world-wide web. Not only that, provides all the tips and information on how to get bonuses (yes, indeed, add-on and sign up bonuses and the best online deals ever!) for anyone and everyone planning to have fun and try their luck on online gaming and gambling sites. It provides you comprehensive data on all online games available to include Poker, Black Jack, Baccarat, Roulette, and even Bingo online. For first timers, has comprehensive tutorials and tips on how to play each of the games available. This site is affiliated with the Best Online Casinos.

For starters, you can get as much as $400 sign-up bonus from pre-selected sites! There are “high roller” bonuses for the more avid players, “no deposit” bonuses and lots more. As your gateway to online micro-gaming experience, provides the best tool and tips you’d ever need. This post is not an invitation for you to gamble, this is entirely your personal choices. But if you do seriously consider splurging on this, it is best that you check and make good use of this portal –

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October 1, 2008

More than a decade ago, the government adopted a Philippine Plan of Action for Children in order to realize a child-sensitive society. Congress recognized children as a basic sector distinct from youth and students.

There are numerous laws and programs that promote the welfare of children. But children remain the most vulnerable sector in Philippine society. They are the most affected during natural and man-made calamities. About 43.3 percent of the country’s population are children.

More than 4 million families are subsisting below the poverty line. Almost 10 million children are undernourished. Most children are suffering from micronutrient malnutrition. Only 33 percent of children are enrolled in daycare and preschool institutions in the country. More than 1 million children of elementary school age are not enrolled.

This is the reason why a couple of Filipino bloggers are encouraging politicians to promote child-friendly governance in all areas.

Spreading the word about the true state of Filipino children in the blogosphere is one way of raising awareness and solicit support. By holding a contest such as this one, will also make it more rewarding for bloggers to join the movement. The contest officially start today (25 September 2008) and will run for a month.


Entering is simple. Earn points by completing certain tasks. The more entries collected, the better chance of spreading the word about the Filipino children and also of winning some Entrecard Credits! So, if you complete a lot of things as opposed to doing just one, your chances of winning will be greatly increased.

Just make sure to keep track of how many points you have earned and post a comment HERE to inform the organizers about your efforts.

It is also important that all relevant words, phrases and blog titles are linked back to the original source. Well, everything you can link to anyway.


The contest will run for a month, 25 September 2008 until 25 October 2008. At the end of the 30 days, entries will be tallied and raffle draws will be made using a random system. Winners will be announced on 30 October 2008.


This contest would have not been possible if not for the generous offers coming from the following sponsors:

  1. Seek No More = 8,000 EC credits + 125×125 ad space for a month
  2. PolitEkon = 2,500 EC credits + 125×125 ad space for a month
  3. Pinay Wife Speaks = 2,500 EC Credits + 125×125 ad space for month
  4. Proud Mommy = 1,500 EC credits + 125×125 ad space for a month
  5. Momma Wannabe = 1,000 EC credits + 125×125 ad space for a month
  6. E-Pamilya = 1,000 EC credits + 125×125 ad space for a month
  7. The Pinay Blogger = 1,000 EC credits + 125×125 ad space for a month
  8. Trader’s Hub = 1,000 EC credits
  9. Swirling Thoughts = 1000 EC credits
  10. A Grateful Heart = 1,000 EC credits
  11. Pinay in States = 500 EC credits + 125×125 ad space for a month


1 Entry – Subscribe via email to any one of the 11 sponsors listed above, which means each contestant can subscribe to all 11 sponsors and earn 11 entries.

10 Entries – Write a post about the contest and its intention of asking the government to implement the Phil. Plan of Action for Children (must include links to all the hosts/sponsors OR just use this original text)

4 Entries – post the 125×125 avatar shown below, which links back to the Seek No More blog for the duration of the contest. You can just copy the codes shown right below the avatar. Child Welfare EC Contest

<a href=”; target=”_blank” target=”_blank”><img src=”; border=”0″ alt=”Child Welfare EC Contest”></a>

10 Entries – be the TOP commentator of at least one of the sponsoring blogs for the duration of the contest. Even if a contestant topped the comments section of two or more sponsoring blogs, that person is only entitled to 10 entries.


First Prize – 10,000 EC credits plus an ad space in Proud Mommy, Pinay in States, E-Pamilya, Seek No More, Momma Wannabe for a month

Second Prize – 5,000 EC credits plus an ad space in Pinay Wife Speaks, Pinay Blogger and PolitEkon for a month

Third Prize – 3,000 EC credits

Consolation Prizes – 15 blogs will receive 200 EC credits each

This means there will be 18 winners!

That is not all. The first 15 contestants who signs up will automatically received 75 EC credits!

However, consider the EC credits as just icing on the cake. The important thing is that, win or lose, the contestants and participants were able to help spread the word about the need to adopt and implement effective policies that promote child welfare in the Philippines and maybe in the rest of the world too.