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David A. Schwinghammer

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· 229 titles
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Member Since: Dec, 2007

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Books
· Soldier's Gap


Short Stories
· Seminary Boy, a memoir

· Fisher of Men, Chapter Nine

· Soldier's Gap, Chapter Three

· Honest Thief, Tender Murderer, Chapter Nine

· Fisher of Men, Chapter 8

· Honest Thief, Tender Murderer, Chapter Eight

· Mengele's Double, Chapter Eight

· Bereavement Blues

· Fisher of Men, Chapter 7

· Speed Dating With 'Janeane Garofalo'


Articles
· The Three Stooges, book review

· The God Particle

· Empire of Sin, book review

· Science at the Edge, book review

· Obama, a Modern Caesar?

· Americans Need to Pull Together

· Voices of the French Revolution, book review

· Great American Scandals

· Odd Man Out, book review

· Portrait of a Killer, book review


Poetry
· Fashion

· Widow's Peak

· Myth

· Alumni Game

· Stradivarius

· Snow-a-holic

· Girls Who Wear Glasses

· The Do Drop Inn

· Ode to Neve Campbell

· Jacks or Better 101

         More poetry...

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Books by
David A. Schwinghammer



Soldier's Gap

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Blogs by David A. Schwinghammer

The Biggest Swindle in US history
6/3/2011 10:52:14 AM
How corporate America and the Republican party got us into this pickle.


When I moved to Little Falls, Minnesota, in 1994, I purchased a fixer-upper for $35,500. The tax guys appraised it at even less. A few years later my neighbor sold his house for $67,000, and it was in worse shape than mine. It became apparent why he got so much later when the housing boom started. Here’s my theory. Mortgage brokers, banks, real estate agents, and construction companies (the big boys, not you little wieners) were tired of low interest rates. They couldn’t even screw people effectively with their points system. And so they got together (It’s called collusion, and it’s against the law) and decided to flip houses (appraise them at higher prices than they’re actually worth). What the heck, the government can’t arrest everybody, can they? They’re certainly not going after the banks who fouled up the mortgage papers on foreclosure notices, are they? If they do, we’re sink into a recession faster than Tarzan wading through quicksand. That was when a one bedroom in Little Falls, Minnesota, suddenly became worth $100,000. Small towns used to be a different market, especially if they didn’t have a lot of industry. When I applied for a teaching job in Hendricks, Minnesota in 1982, the principal told me I could rent a house (a frickin’ house!) for a hundred dollars a month. I almost took the job on the spot because of the house. I was paying something like $250 a month for an apartment in the St. Cloud area at the time.

And collusion wasn’t the worst part. There’s this thing called a variable interest rate. The bastards weren’t satisfied with eight percent or whatever it was at the time. They didn’t want to commit to a thirty year mortgage with such a low interest rate. They were pretty sure the interest rate would go up, and sure enough, it did. If you were anything like me when I purchased my first house (before the one in Little Falls) you wanted it so bad you would have agreed to put up your first child as collateral. Besides you didn’t really know how variable interest rates worked. So now you’re stuck with a house that’s not worth what you paid for it and you’re ultimately going to pay a higher payment when the interest rates go up. Do I need to point out the obvious? The idea is to make sure you suckers never pay off that loan. You will pay those mortgages for the rest of your lives, boobies! Then along comes the burst bubble which everybody with a half of a brain knew was coming (Except George W. Bush and Dick “No bids for Halliburton” Cheney). And the value of your house (which your parents used to get equity on) is now worth less than you paid for it. Those who owned mini-mansions just took off, defaulting on their loans. They weren’t worried about any stinking credit rating. The rest didn’t know whether to shit or go blind. As my favorite comedian Lewis Black would say, AND THE GODDAMN F**KING BANKS REFUSED TO RENEGOTIATE THE LOANS ON MONEY THAT WAS NEVER THERE IN THE FIRST PLACE!

Wait, there’s more. Some mathematician someplace came up with this idea that if you chopped up these bad loans and put them with chopped up good loans, you could sell them as a hedge against a bad stock market. That guy should be boiled in oil, fished out and hanged, revived, skinned alive, then drawn and quartered. The big banks like Goldman Sachs insured these “derivatives” with the giant insurance agency AIG and when the housing market took a dive, AIG owed them billions for selling worthless stocks. They were too big to fail, unless you wanted a world wide recession, because Wall Street was busily selling derivatives to practically everybody, except China, who now has a two trillion dollar reserve to loan us. The Republican Party would have you believe that this was all the democrats’ fault, that Fannie Mae and Freddie Mac were making loans to poor people who couldn’t afford to buy houses. But George W. Bush, with the encouragement of Sidney Greespan Federal Reserve Board Chairman, signed legislation making it easier for people to get a federally guaranteed housing loan. They know this; they’re just counting on clueless conservative voters believing everything they say.

Meanwhile mortgage brokers and banks were selling houses to practically anybody who wanted one, and handing out bonuses to their sales people for doing it. And then KABOOM! Humpty fell off the wall, and here we are. It took a TARP bailout and a 700 billion dollar stimulus program to prevent a depression that would have made the Great Depression look like a church picnic. Cue Lewis Black: AND THE AMERICAN PEOPLE BLAMED OBAMA FOR THE HUGE DEFICIT AND THE NATIONAL DEBT, 80 PERCENT OF WHICH WAS INCURRED BY REAGAN AND THE TWO BUSHES!

When will independent voters realize that the modern Republican party is not your father’s Republican party. The John Birch Society used to be anathema to even Republicans. Lyndon LaRoche was a certifiable lunatic (Today, he’s Ron and Rand Paul’s mentor). When you vote for a Republican you’re voting for the same people who thought that the derivative algorithm was a good idea. You’re voting against yourself.


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More Blogs by David A. Schwinghammer
• Greedheads - Monday, September 29, 2014
• Worst President Since WWII? - Monday, July 07, 2014
• Tenure for Teachers - Thursday, June 26, 2014
• Koch Brothers Interfere in Local Election - Thursday, May 08, 2014
• The Wolly Mammoth - Wednesday, April 23, 2014
• Fran Tarkenton's political ad - Friday, March 14, 2014
• Propaganda vs. Legitimate Commentary - Sunday, February 23, 2014
• Porn as a Political Issue - Tuesday, February 18, 2014
• Drive a Stake Through the Vampires' Hearts! - Thursday, February 06, 2014
• State of the Union Stem-winder - Wednesday, January 29, 2014
• Ted Cruz - Tuesday, November 19, 2013
• Here We Go Again. - Thursday, September 19, 2013
• Reality TV - Friday, August 09, 2013
• Common Sense - Tuesday, July 30, 2013
• Skunks Believe Everybody Else Stinks - Thursday, May 16, 2013
• The Morning After Pill - Friday, April 12, 2013
• What Would Thomas Jefferson Say? - Saturday, April 06, 2013
• Boneheads - Tuesday, March 12, 2013
• Why Benedict XVI Resigned - Sunday, February 17, 2013
• Gabby Giffords Testifies - Wednesday, January 30, 2013
• Newspaper Caters to Gun Owners - Wednesday, January 23, 2013
• Piers Morgan Deserves a Medal - Monday, December 24, 2012
• The Red Devil and the Blue Devil? - Tuesday, October 30, 2012
• Is the new TV show, REVOLUTION, fantasy? - Wednesday, September 26, 2012
• Fanatical Moslems Aren't That Different From Our Fanatics - Wednesday, September 12, 2012
• We Need the United Nations - Wednesday, July 18, 2012
• Stop Catering to People's Basest Instincts - Monday, July 09, 2012
• Concerned Women for America political ad - Saturday, June 23, 2012
• Independent Voters Need to Pick a Side - Monday, June 11, 2012
• Romney's Solyndra Appearance - Friday, June 01, 2012
• Single Issue Voters - Sunday, May 20, 2012
• Bully or Sociopath? - Saturday, May 12, 2012
• Tan-orexic Woman Poor Role Model - Friday, May 04, 2012
• So Far Right They're Almost Left - Sunday, April 22, 2012
• Dog Eat Dog - Sunday, April 15, 2012
• The Tea Party is Back! - Sunday, March 25, 2012
• Gas Prices - Tuesday, March 13, 2012
• "Doofus" - Tuesday, March 06, 2012
• Bon Iver Front Man Makes Important Statement - Thursday, February 16, 2012
• Contraception Blowback - Friday, February 10, 2012
• 800 vetoes! - Saturday, February 04, 2012
• Issa Hounding Holder over GOP program - Thursday, February 02, 2012
• Rick Santelli's Rant - Wednesday, January 18, 2012
• Corporate Raider President? - Thursday, December 01, 2011
• Is This the Best They Can Do? - Thursday, November 17, 2011
• Tea Party a non-violent Movement? - Sunday, October 30, 2011
• Wall Street Protests - Wednesday, October 05, 2011
• Three new stooges - Thursday, August 25, 2011
• Hypocrite enters the race - Friday, August 19, 2011
• Business Leaders Need to Speak Out - Saturday, July 30, 2011
• Rupert Murdoch and GOP Credibility - Monday, July 25, 2011
• Playing on the railroad tracks - Sunday, July 17, 2011
• Scapegoating - Sunday, June 19, 2011
•  The Biggest Swindle in US history - Friday, June 03, 2011  
• We're Still Here! - Saturday, May 21, 2011
• Improve education by improving teacher morale - Wednesday, May 04, 2011
• Tea Partiers Don't Know What They're Talking About - Thursday, April 28, 2011
• General Electric paid no corporate taxes - Tuesday, April 05, 2011
• The Flat Earth Society is at it again! - Thursday, March 17, 2011
• Crap fest - Thursday, March 03, 2011
• Egyptian Revolution - Tuesday, February 08, 2011
• Tucson - Wednesday, January 12, 2011
• Would you want a right-winger for a neighbor? - Friday, January 07, 2011
• Noah's Ark Museum - Monday, December 06, 2010
• Frick and Frack Shoot Off Their Mouths - Friday, November 05, 2010
• Enthusiam Gap - Wednesday, October 27, 2010
• Super Computer - Tuesday, October 19, 2010
• US Chamber of Commerce, conservative front group. - Wednesday, October 13, 2010
• 13 Reasons to vote the straight democratic ticket - Wednesday, September 01, 2010
• Breitbart Makes Segretti look like a choirboy - Wednesday, July 28, 2010
• House on Fire? - Thursday, June 17, 2010
• The Blame Game - Friday, May 28, 2010
• National Prayer Day - Tuesday, May 18, 2010
• Conservative psyche (continued) - Friday, May 14, 2010
• Conservative psyche - Wednesday, May 12, 2010
• Are you smarter than a half-term governor? - Wednesday, April 14, 2010
• Rewriting History - Monday, April 05, 2010
• Fred Phelps - Friday, April 02, 2010
• Combing the Daily Newspaper - Wednesday, March 17, 2010
• Noir - Friday, November 06, 2009
• Interview with SOLDIER'S GAP author continued - Tuesday, November 03, 2009
• More from SOLDIER'S GAP author - Thursday, October 29, 2009
• SOLDIER'S GAP author answers questions. - Thursday, October 22, 2009
• Everything you always wanted to know about writing a novel - Tuesday, October 20, 2009
• Manuscript conventions - Thursday, September 10, 2009
• Revision - Monday, September 07, 2009
• Dialogue - Thursday, September 03, 2009
• Scene cards - Tuesday, September 01, 2009
• Point of view - Thursday, August 27, 2009
• Plot - Tuesday, August 25, 2009
• Arnie's dream - Friday, August 21, 2009
• Rituals - Thursday, August 20, 2009
• Dressing Arnie Vogel - Tuesday, August 18, 2009
• Character sketch continued - Friday, August 14, 2009
• Character sketch - Thursday, August 13, 2009
• Characterization - Wednesday, August 12, 2009
• Scene outline - Tuesday, August 11, 2009
• Warm-up activity - Freewriting - Monday, August 10, 2009
• Warm-up activity - brainstorming - Sunday, August 09, 2009
• Warm-up techniques (clustering) - Saturday, August 08, 2009


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