http://www.lp.org/…

Libertarians are taking President Barack Obama to task for once again intentionally spreading false information about the source of guns used by Mexican drug cartels and blaming the United States for crime in Mexico.

“This war is being waged with guns purchased not here, but in the United States.  More than 90 percent of the guns recovered in Mexico come from the United States,” said Obama in a face-to-face meeting Thursday with Mexican President Felipe Calderon in Mexico City.

That claim, however, is blatantly false.   According to information supplied by the Bureau of Alcohol, Tobacco, Firearms and Explosives (BATFE) the real number is closer to only 17 percent.

Read More…

http://news.slashdot.org/…

AdamWeeden writes “According to research done by the Boston Globe, HP has been secretly using a third-party company to sell printers to Iran. This is illegal under a ban instituted in 1995 by then US President Bill Clinton. The third-party company, Redington Gulf, operates out of Dubai and previously stated on their web site that the company began in 1997 with ‘a team of five people and the HP supplies as our first product, we started operations as the distributor for Iran,’ though now the site has been changed to remove the mention of Iran. Has HP unknowingly been supplying Iran with technology or have they been trying to secretly get by the US government’s export restrictions?”

I sure hope it’s the latter. In what way is it legitimate for the government to infringe on HP’s private property rights like this? Besides does anyone actually believe these types of restrictions actually do anything constructive? The government will still be able to smuggle in whatever they want and the rest of the residents will be forced into the black market to obtain the products and services they desire. Those who aren’t willing to go that far will be artificially kept back in the rat race leading to less productivity and bigger disparities between those within and without the country. Worse case they pick up lesser brands from China, India or Russia who have likely fewer if any trade restrictions.

Free and open trade makes for more peace and prosperity. Trade restrictions just aren’t bad foreign policy they are bad economics.

When goods don’t cross borders, soldiers will. -Fredric Bastiat

http://query.nytimes.com/…

Fannie Mae Eases Credit To Aid Mortgage Lending

By STEVEN A. HOLMES

Published: 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.

…

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.”

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.

It was obvious to just about everyone… yet Democrats in particular… the likes of Dodd, Clinton, Schumer, Reid, Obama, etc. endorsed and in several cases explicitly benefited from the Community Reinvestment Act, Fannie Mae and Freddie Mac.

The CRA was not the only or even the most important aspect which lead to the current crisis. Bad lending couldn’t have been sustained or would have been possible if not for the Federal Reserves incredibly low interest rates and market manipulation. The CRA was the vehicle which the rode the low interest wave to creating the boom.

McCain may have sponsored that bill but it’s not like he understood exactly why or what the result would ultimately be. Ron Paul had been trying to change the CRA and was explaining what would occur if it didn’t change.

Even though this is a fairly infamous bill and was one of the Clinton administration’s pride and joys most people I speak with have never heard of it or understand what it did. That combined with low interest rates, devaluation of the dollar, Fannie / Freddie mess, etc. set up for the perfect storm.

Sept. 11th, 2008:

• John McCain’s interview: Part 1, Part 2, Part 3, Part 4
  • Says outright he’s against compulsory service.
  • Advocates growing the military several times.
  • Claims private industry provides services better, wishes to create partnerships with business instead of having the government take on those roles.
  • Points to the creation of the Department of Homeland Security as bipartisan cooperation that is needed to gain trust and support of the public.
  • “It’s not about the individual, it’s about the cause we serve.”
  • “I think the all voluntary force is having difficulty recruiting and retaining because we are too small and we need to expand the size of our military and we need to do it as rapidly as possible. And we got to perhaps offer additional incentives.”
  • Apparently, without knowing what the Serve America Act does, McCain says he would sign the bill as president.
  • Would rather have the private sphere perform the voluntarism and only have the government provide incentives.
• Barack Obama’s interview: Part 1, Part 2, Part 3, Part 4, Part 5
  • “Each and everyone of us are going to have, are going to make commitments in terms of improving fuel efficiency in our cars and homes. And the government is going to be in partnership with citizens to make that happen.”
  • “America is the greatest country on earth but it didn’t just happen on its own. It’s not a gift only. Although it is a great blessing we’ve received. It’s a responsibility. And part of what makes America work is the fact that we believe in individual responsibility and self reliance but we also believe in mutual responsibility, in neighborliness, in a sense that we are committed to something larger than ourselves.”
  • Speaks of growing the military. Getting those in urban areas to be equally represented in the military.
  • Wants more people in the military and non-military service regardless of whether there is a war.
• Interviewed a City Year ‘volunteer’ but my questions and pins on my book bag (”Taxation is theft”, “Ron Paul 2008″) scared them off. The Service Nation handler asked me to turn off the camera, that he didn’t want any problems, that it was a positive event. The City Year ‘volunteer’ said he couldn’t speak on the topic as a representative of City Year.

Sept. 12th, 2008:

• I spoke with a fellow blogger regarding my reason for being at the summit. She was there on behalf of the Case Foundation which is a Service Nation Coalition member.
• Richard Stengel, managing editor of TIME, effectively asks “why not have compulsory service?” during presidential forum. The tone of the questions and the fact it’s brought up more than once indicates to me he is in favor of mandatory service. In his own brief speech he talks of the most known part of the Declaration of Independence but casually bypasses arguably the most important line. Focusing on “consent of the governed” instead of “that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.” Implying, IMO, he prefers a positive law democracy vs natural law republics.
• Jon Bon Jovi speaks on his private charities. Many examples of service and voluntarism given were in fact actual privately performed.
• Vartan Gregorian, President, Carnegie Corporation of New York tells us [Part 2]: “We’re not here as Democrats or Republicans or as libertarians, socialists, Green party members, or members of other organizations. We are here today first and primarily as Americans.” Claims being a citizen is the highest achievement.
• Admiral Michael Mullen [Part 2]: “the soldiers in Iraq are protecting our democracy at home. They are there because of what happened on 9/11.” I thought Iraq had nothing to do with 9/11. How is it that our invasion of Iraq is protecting us? “There is no greater reward than working for something greater than yourself.” “Keep singing (God Bless America), keep waving (flags), and keep serving!” Yay nationalism/fascism!
• Michael Bloomberg [Part 2]: “We are the beneficiaries of those who give their lives to defend us.” “Service should be asked of everyone and should be open to everyone. So we are creating new programs.”
• University president’s [Part 2]: Speak of giving out grants to those who volunteer at school. Making voluntarism mandatory parts of the education process.
• Alan Khazei: Misuses/misrepresents the Emancipation Proclamation. Need a new role for government. Funding public/private mix of service. “Getting government to do what works.” Speaks of Gandhi, abolitionists, and others. All of who worked against government.
• George H. W. Bush
• Bill Clinton
• Town Hall [Part 2,3,4,5,6]

These are all the videos I’m going to upload… at least for the time being.

Sorry about the last few not having notes. Too lazy to watch them. You can find some notes I took during the event here.