Bush Administration Loses 190,000 Weapons in Iraq

[bj229r]

During the '80's we all were wondering same thing about Japan

[john9001]

japan? isn't that the country that moved it's car factories to the USA?

[crockett]

Originally posted by john9001
japan? isn't that the country that moved it's car factories to the USA?

Yea meanwhile the American companies moved their factories to Mexico..

[bj229r]

Oh dear, where are the Mexicans gonna build THEIR cars?

[john9001]

Originally posted by bj229r
Oh dear, where are the Mexicans gonna build THEIR cars?

Brazil?

[Dago]

Originally posted by Shuffler
Blaming that on Bush is a really long shot.

The weapons were given to the Iraqi government for their soldiers and police.  Iraqi folks did not track the weapons. We went back checking and found there is no information on where all of the weapons went. It's not like they were on a train in shipment.... they were already delivered.

I think we need to understand, folks over there NEED someone to rule them. Someone who will kill them for breathing, someone to scare them into submission with instant death. That is all they have ever had. You can't change that in a few years. It is ingrained into every human over there.

I don't feel like reading all the posts in this thread, but I will say you hit the nail on the head.  Thanks for pointing out the obvious to those that lack  brain cells, Bush didn't lose the weapons and trying to insinuate he  did is rather moronic and truely worthy of our worthless MSM.

[bj229r]

Next thing your gonna say is Bush DIDN'T lose Bin Laden

[Dago]

Originally posted by bj229r
Next thing your gonna say is Bush DIDN'T lose Bin Laden

Not sure Bush ever had his hands on him to lose him.  How do you "lose" something you didn't have control over?  

[Stringer]

Originally posted by Dago
 How do you "lose" something you didn't have control over?  

Wow...hits the nail on the head for Iraq......

[bj229r]

Originally posted by crockett
It's not just that, China has also threatened to cash in it's bonds. The reason no one is praising "record highs" in the media is because anyone with a brain knows it's fake.

Our economy is being funded by loans from China and other countries. It doesn't take a rocket scientist to figure out when we are borrowing 1.5 billion a day, that it's not going to go on forever.

As far as your American Dream and borrowing more than you can afford, well that's just what the US govt is doing now. It's Bush that did it too. Clinton had the budget ballenced and it would have been payed off.

aHEM:

At the center of the concerns are high-risk loans to individuals or businesses made by banks globally.

More Americans are failing to keep up with their home mortgage payments, and there are concerns that this could ripple around the globe because much of the debt from mortgages has been packaged into securities sold to pension funds, banks and other investors who were hungry for high returns on investments.

The same mortgage securities in the U.S. that are crumbling in value are a part of bigger holdings that banks from Japan to Germany bought into because of low U.S. interest rates and a good returns. That is, until the mortgage holders started defaulting.

Meanwhile, the ability of banks to convert assets to cash quickly was in doubt because some were unable to track how much money they poured into now worthless securities backed by sub-prime U.S. mortgages, or loans made to high credit-risk individuals.

Those bad loans raised fears of broader credit troubles that could affect the entire banking and financial system - concerns that caused stock markets to plummet and threatened pensions.

The slide started innocuously in April after New Century Financial, a U.S. mortgage lender whose principle borrowers were Americans with less-than-stellar credit, filed for bankruptcy protection. Its customers were people who may have been late on credit card payments, maybe even filed bankruptcy in previous years, but still wanted a shot at buying their own home.

Lenders were only too happy to oblige - flush with cash and eager to exploit new markets so they could, in turn, lend more money and increase their profits.

Hedge funds and banks worldwide saw a market with opportunity and bought up mortgage-backed securities.

A month later, USB AG, the giant financial company, said its hedge fund business had lost $125 million in the first quarter largely on the back of investments in the U.S. sub-prime mortgage field. Then in July, Wall Street's Bear Stearns closed a pair of hedge funds after it lost more than $20 billion on mortgage-backed investments.

In early August, concerns mounted that those mortgage securities may not have been as solid as people thought.

Those fears were capped by the Aug. 6 bankruptcy by Melville, N.Y.-based American Home Mortgage Investment Corp. American Home, once a major U.S. mortgage lender, said it fell victim to "extraordinary disruptions" that effectively cut off the funding it needed to make new loans.

On Thursday, France's biggest bank, BNP Paribas, froze $2.2 billion held in three funds because their exposure to sub-prime mortgages in the U.S. That intensified fears that risk was spreading worldwide.

With cash reserves running low, the interest rates that banks charge each other for overnight loans rose so steeply that central banks in the U.S., Europe and Asia poured tens of billions of dollars into the market to make sure enough cash was available to meet demand.

Such large-scale central bank interventions are rare - that last major injection came immediately after the Sept. 11 attacks in 2001.

link
The China business sure didn't help, but this was the culprit---loans being extended to people who had no ****ing business having them ,because "eveyone in this country has the right to the American dream"