Tuesday, April 27, 2010

Goldman-Sachs Only Did What They Had To Do

I have my own opinions on this situation, and they all involve a straw man, a red herring, and the extremists on the left, hell bent on destroying this country by destroying our ability to direct our own financial decisions.
Rush Breaks Down the Democrat Party's Goldman Sachs Inquisition
Congress screwed up the market by forcing banks to make subprime loans to people who couldn't pay them back. Goldman isn't pure, but they wanted to survive. (Rush 24/7 Members: Listen)

"I'm not convinced that Goldman isn't in on this. They'll pay a $500 million or $400 million fine in exchange for a couple of billion in profit down the road. Goldman will take the hit, Republicans get tied to them, Democrats win in November (or don't lose as bad) and all is well." -Rush

The Regime, Class Warfare and the Destruction of American Capitalism
The greatest country on earth is being systematically dismantled right in front of our eyes, and the Republicans are getting blamed for it. It's absurd. (Rush 24/7 Members: Listen)

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Thursday, March 11, 2010

Continuing With the DCExaminer

Washington Post -- Nancy Pelosi's office was told of concerns about Eric Massa
It seemed at first that House Democrats had acted swiftly to deal with the charges against tickle-fight fan Rep. Eric Massa, avoiding one the central problems that dogged the GOP in the 2006 election year: trying to protect Rep. Mark Foley who was pawing at the boy pages.
But now the House leadership is caught in a bit of a bind – on the day that the Ethics Committee dropped the investigation into Massa’s alleged sexual harassment of his male aides (the Foley probe went on for weeks after he left Congress and produced a damning report about him and his protectors) it is also revealed that the House speaker’s office knew about Massa’s unusual sense of congressional decorum last fall, but took no action.
It lends some credence to the theory that Massa’s antics only became an issue once Democrats were rounding up votes for the final health care vote. Massa voted n on the grounds that the bill was insufficiently liberal and was a prime target for leaders looking for switchers.
Writer Carol Leonnig tells us what Pelosi’s office knew in October:
“Joe Racalto, Massa's chief of staff, was uneasy that Massa, 50, was living with several young, unmarried male staffers and using sexually explicit language with them, one source said. But what finally prompted him to call Pelosi's director of member services, the source said, was a lunch date that Massa made with a congressional aide in his 20s who worked in the office of Rep. Barney Frank (D-Mass.).
According to a person briefed on the call, Racalto was concerned that the lunch followed a pattern by Massa -- who is married and has two children -- of trying to spend time alone with young gay men with no ostensible work purpose. Racalto, according to this person, also alerted Frank's chief of staff. The sources spoke on the condition of anonymity because of the political sensitivity of the matter.”

Washington Post -- Employers plan to shift more health-care costs to workers, survey reports
The drive for Obamacare has already had one major effect – employers are dumping costs on workers as fears of crippling expenses grow.
Writer David Hilzenrath looks at the results of the National Business Group on Health, the annual survey that looks at trends in the health benefits field. The results show that many employers are trying to get out in front of new regulations and fees by shifting the burden to workers. Another popular strategy is to start edging high-risk/high-cost employees out of company plans so they can be quickly dumped into any new government program that does emerge.
“So-called spousal surcharges impose a fee if an employee's spouse enrolls in the company plan, despite having the option of getting coverage through his or her own job. The theory is that spouses who take advantage of the company plan are likely to be heavier consumers of health care. Twenty-eight percent of employers plan to use spousal surcharges next year, up from 21 percent this year, the survey found. Although only 3 or 4 percent of employers give employees financial incentives to meet targets for blood pressure, weight and cholesterol, 13 to 14 percent are considering doing so, the survey found. Six to 7 percent are considering declaring that only employees who meet targets can enroll in "preferred" health-care plans, up from 1 percent now.”

Washington Post -- Politics, shaky economy create no rush to restructure Fannie and Freddie
Writer Zachary Goldfarb tells us that while the Fed and Treasury look for ways to spin down bailout projects, it looks more and more like the total federal control of Fannie Mae and Freddie Mac are permanent conditions. Along with General Motors, the mortgage lenders are likely to become wards of the state in perpetuity.
The government has pumped $125 billion into propping up the lenders and there will be more costs as foreclosures continue and the administration looks for new, and more expensive, ways to intervene.
So for now, the lenders operate in a shadow world where there is neither the oversight and transparency of a government agency nor the competitive pressures of the free market – and there’s no plan to devise a permanent solution.
“When the Bush administration seized the firms, it said it would make $200 billion available to them. The Obama administration a year ago doubled that figure, then decided late last year to offer them unlimited financial assistance as a signal to investors that the companies' solvency was guaranteed.”

New York Times -- Tight Race in Iraq Could Mean Weeks of Horse-Trading
Ahmed Chalabi, the Shi’a schemer who helped feed fake Iranian intelligence to the U.S. in the run up to the Iraq invasion, seems to have lost again in parliamentary elections. The forecast vote from Sunday’s election has Chalabi’s party trailing secular reformer Ayad Allawi in the balloting. Allawi’s team trails the party of incumbent Prime Minister Nouri al-Maliki, but is close enough to get some say in the formation of the new government.
Left out by the voters, Chalabi and his Iranian backers, are looking to delegitimize the results.
Writer Mark Santora explains the tough road ahead for forming a ruling coalition.
“In the months after the 2005 election, while politicians wrangled for months about the makeup of the government, insurgents gained strength and religious tensions worsened. Tens of thousands were killed in the sectarian fighting that followed, which made Mr. Chalabi’s challenge on Thursday deeply troubling to Western observers.”

Washington Post -- It's Obama vs. the Supreme Court, Round 2, over campaign finance ruling
Liberal outrage at Chief Justice John Roberts found a new gear after Roberts answered a question from a University of Alabama law student by objecting to the high court being placed in the public stocks during President Obama’s State of the Union address.
Roberts point was that while it may have become a nice tradition during the modern era of states of the union for the justices to turn up and smile silently through the speech, it’s no good if it’s a chance for the president to shame the judiciary. What the president did was tacky and unprecedented, and Roberts said only that he found it “troubling” and that he may follow Justice Thomas’ lead and leave the “political pep rally” to the politicians.
The White House seized on the chance to reengage the debate on the underlying issue – the decision to lift blackout dates imposed by the McCain-Feingold Act on political expenditures by non-candidates.
Robert Gibbs was immediately bleating about the corporate takeover of American politics and proving that he likes being disagreeable while disagreeing. Fortunately for Gibbs, writers Robert Barnes and Anne Kornblut were on the case to explain that this was all very bad news for Roberts and would reinforce that the president’s public chiding was the right thing to do – lots of blind quotes about the ruling and the political wisdom of boorish behavior.
“[Obama officials] acknowledged that a debate over campaign finance fed into Obama's central campaign promise of transparency and reform. ‘This is really about the president's change agenda,’ a White House official said.
‘This is the functioning of democracy at its highest,’ the official said. ‘People disagree, they discuss, they debate.’”

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DCExaminer Editorial Highlights

Time for sunshine at Fannie, Freddie
Examiner Editorial
"A presidential declaration that all Fannie and Freddie documents are covered by the FOIA would make Sunshine Week 2010 memorable indeed."

America's Lindsay Lohan problem

David Freddoso, Examiner Columnist
"In Florida, for example, you can drive drunk, crash your car and then sue the automaker for its insufficiently crashworthy design."

Millennials will be end of the road for Progressives

Mark Tapscott, Examiner Columnist
"There will be hell to pay, with no grace period, no more bailouts and no more patience for politicians peddling lies about what government will do for them."

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Monday, January 25, 2010

Heritage Foundation Quick Hits

QUICK HITS
Three different White House advisers (Senior Adviser Valerie Jarrett, Press Secretary Robert Gibbs and Senior Adviser David Axelrod) gave three different estimates for the number of jobs President Obama's economic stimulus program "created or saved" this Sunday.

According to the latest CNN poll, 56% of Americans now oppose President Barack Obama's economic stimulus program.

Rep. Barney Frank (D-MA) said his committee was preparing to recommend "abolishing" Fannie Mae and Freddie Mac.

The Obama administration Guantanamo Bay task force has concluded that at least 47 prisoners must be held indefinitely without civilian or military trial.

Venezuela President Hugo Chavez has ordered popular television station RCTV off the air for not televising Chavez's speeches in their entirety.

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Tuesday, January 05, 2010

More foreclosures to come

This is why I am still unemployed. Thanks to the government trying to help, the banks are NOT getting rid of their foreclosures. They are expecting MORE bailouts.

Here's a round up of real estate news. The good news? Housing will be cheaper. Eventually.
The bad news? We still won't be able to afford it.


10 MILLION more foreclosures to come

Real Estate. Believe it or not, the NYT gets it

And something REALLY SCARY



And wait until the COMMERCIAL foreclosures start........

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Thursday, September 03, 2009

Facts Are Very Annoying Things

The U.S. Post Service was established in 1775 - they've had 234 years to get it right; it is broke, and even though heavily subsidized, it is not able to compete with private sector FedEx and UPS services.

Social Security was established in 1935 - they've had 74 years to get it right; it is broke.

Fannie Mae was established in 1938 - they've had 71 years to get it right; it is broke. Freddie Mac was established in 1970 - they've had 39 years to get it right; it is broke. Together Fannie and Freddie have now led the entire world into the worst economic collapse in 80 years.

The War on Poverty was started in 1964 - they've had 45 years to get it right; $1 trillion of our hard earned money is confiscated each year and transferred to "the poor"; it hasn't worked.

Medicare and Medicaid were established in 1965 - they've had 44 years to get it right; they are both broke; and now our government dares to mention them as models for all US health care.

AMTRAK was established in 1970 - they've had 39 years to get it right; last year they bailed it out as it continues to run at a loss!

This year, a trillion dollars was committed in the massive political payoff called the Stimulus Bill of 2009; it shows NO sign of working; it's been used to increase the size of governments across America, and raise government salaries while the rest of us suffer from economic hardships. It has yet to create a single new private sector job. Our national debt projections (approaching $10 trillion) have increased 400% in the last six months.


"Cash for Clunkers" was established in 2009 and went broke in 2009 - - after 80% of the cars purchased turned out to be produced by foreign companies, and dealers nationwide are buried under bureaucratic paperwork demanded by a government that is not yet paying them what
was promised.


So with a perfect 100% failure rate and a record that proves that each and every "service" shoved down our throats by an over-reaching government turns into disaster, how could any informed American trust our government to run or even set policies for America's health care
system - - 17% of our economy?

Maybe each of us has a personal responsibility to let others in on this brilliant record before 2010, and then help remove from office those who are voting to destroy capitalism and destroy our grandchildren's future.

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Tuesday, September 30, 2008

Just Give Us Our Money Back

We'll fix this on our own, without greedy, manipulative politicians.

The ultimate example of opportunistic politics before good government was displayed in Washington over the past several days. Political operatives from both sides of the aisle did everything in their power to create a government-based solution to the financial crisis facing our country; a government-created problem. In the end the US House of Representatives voted down the highly contentious Wall Street bailout bill mostly due to the fact that we are within the 30-day window when voters do not forget actions taken by their elected officials. If only the public's attention were always so focused.
In the end 90 House Democrats joined with 133 House Republicans in an effort to stop a measure that would have seen the biggest expansion of government in US history. In effect, it would have placed the coyote in charge of the hen house.
Many in our citizenry viewed the now-dead proposal as a "no fault" measure that would have allowed those responsible for this financial malfeasance to escape culpability and with good reason. Watching US Rep. Barney Frank (D-MA) and US Sen. Chris Dodd (D-CT) - along with their leadership, Nancy Pelosi (D-CA) and Harry Reid (D-NV) and Senior Senator from New York, Charles Schumer - harangue about how Democrats were taking the lead in crafting "bi-partisan" legislation to "rescue" the average American from the evils of Wall Street was the ultimate exercise in political hypocrisy.
Frank and Dodd, both chairmen of their respective committees that over see the financial community on matters directly related to this crisis and the malfeasance that brought us to this point, were derelict in their duties not only as chairmen charged with oversight, but in their duties to their respective constituencies in that they were not providing good government.
Without doubt, Frank and Dodd should resign from their chairmanships immediately and without question. If the GOP had been in control of Congress at this point in time Democrats would have been screaming for the chairmen's resignation not only from their chairmanships but from Congress. So, let's exact some "what's good for the goose" here.

Our elected officials - our US Representatives, US Senators and the White House - must understand we the taxpayers - We the People - have had enough and are exercising our constitutionally mandated right to provide oversight to our elected officials. To do that we must make our voices heard.
Just as We the People stopped the sham of an immigration bill we can apply enough pressure on our elected officials to bring them to craft a piece of legislation that affords taxpayer monies to the taxpayers so that they can lift themselves out of this financial crisis by paying their own bills. Approaching the existing crisis in this manner would:
▪ Make available liquid assets to the banks and financial institutions currently strapped for cash because of the "bad paper" they hold.
▪ Eliminate the immediate threat of foreclosure to those who were afforded loans they couldn't afford.
▪ Eliminate any need for a massive expansion of federal government, thus reducing the proposal for a greater "governmental footprint" in our private lives.
▪ Allows taxpayers to use their own money to rectify private sector matters without governmental interference.
The solution for this "crisis" rests with the people, not the government; government will be responsible for repealing Bill Clinton's National Homeownership Initiative and eliminating Jimmy Carter's Community Reinvestment Act, and disciplining US Rep. Barney Frank and Sen. Chris Dodd for their dereliction of duty with regard to their obligation to provide congressional oversight.
In the beginning, when our Framers and Founders created the incredible documents that are The Charters of Freedom - the Declaration of Independence, the US Constitution and the Bill of Rights - they understood that government was to be executed from the local to the federal; they maintained that because we had a citizen government, created to serve the people rather than to lord over the people, that the power needed to rest with the people.
Ladies and Gentlemen, it is time to exercise our constitutional duties of civic responsibility. Let's tell government to give us our own money back so we can fix the mess they have created. It is time to put good government before opportunistic blame-game politics. Anything else would be to ignore the will of the people.

FamilySecurityMatters.org Contributing Editor Frank Salvato is the managing editor for The New Media Journal. He serves at the Executive Director of the Basics Project, a non-profit, non-partisan, 501(C)(3) research and education initiative.
Feedback: editorialdirector@familysecuritymatters.org.
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