Archive for August 9th, 2010
The campaigner-in-chief…aka…”Bam the Bully” is back on the campaign trail. He wants to remind Republicans that he is a pretty good politicker liar. Obama brags about how he politics pretty good and Americans are suffering due to it. Instead of concentrating on the economy and jobs, Obama has been on an 20 month, non stop, campaign.
The Hill reports:
President Obama told a Democratic crowd in Texas that he has spent 20 months governing while the GOP has spent 20 months “politicking.”
“Now we’ve got three months to go so we figure we can politic for three months,” Obama told the crowd gathered in Austin, Texas. “They’ve forgotten I politic pretty good.”
Despite the recent dark-red voting trend of Texas, Obama lapsed into his now familiar campaign themes, blaming Republicans for driving the economy into a ditch under former President George W. Bush.
But Obama also disputed Republicans’ complaints that the Democratic strategy of Bush-bashing is their focus.
“No, no, no, the reason we’re focused on it is because the other side isn’t offering anything new,” Obama said.
It’s a sad state of affairs when a President can’t run anything the Democrats have signed into law. The stimulus failed. ObamaCare does the opposite of what was claimed and all the bailouts to Wall Street, big Banks and the Unions have increased the deficit. It’s easier to blame others instead of facing the truth that your policies suck ass.
Democrats are desperate in their lust to keep control of the U.S. House and Senate. They have been caught in their “Crash the Tea Party” campaigns and most recently Democrats have been caught putting forth fake Tea Party candidates. Here’s another example of the fraud being put forth by Corrupt-0-crats.
This has been the Dem-o-crooks attempt to smear the Tea Parties and place the racist label on supporters. What’s bad is the lame-stream alphabet media is in on the fraud as well. The proof continues to pile up. Remember journ0list?
H/T to Breitbart.tv
Since the racism charge hasn’t worked, what will be Water’s next excuse?
MSNBC reports, via The Drudge Report:
The bank at the center of a House ethics investigation of U.S. Rep. Maxine Waters was the weakest to receive funds from the government’s Troubled Asset Relief Program at the time of its rescue, according to an analysis by the Investigative Reporting Workshop.
When then-Treasury Secretary Henry Paulson announced creation of the so-called “Capital Purchase Program” in October 2008, he said it was directed at “healthy institutions.” Nevertheless OneUnited Bank of Boston received a $12.1 million capital injection from the Treasury Department on Dec. 19, 2008. The money has not been repaid, according to Treasury Department documents.
Records show that as of Sept. 30, 2008, the latest quarter before the investment, OneUnited had “Tier 1 capital” of just 1.8 percent of assets. Of the 363 banks that got TARP money in the fourth quarter of 2008, at the height of the financial crisis, that was the lowest Tier 1 ratio.
In fact, none of the 987 banks that got TARP money between October 2008 and December 2009 reported a lower ratio in the quarter before they received federal cash. As of March 31, 2010, 16 TARP banks had lower Tier 1 ratios then OneUnited’s 4.98 percent.
Waters, a Democrat from Los Angeles, is alleged to have set up a meeting with regulators to help the bank, on whose board her husband served. OneUnited is based in Boston, but it has major operations in Los Angeles and Miami.
Tier 1 capital, which includes equity plus disclosed reserves, is considered by many banking experts to be the best way to gauge a bank’s financial health. Banks are required to have a minimum Tier 1 ratio of 3 or 4 percent, depending on their classification, according to rules posted by the Federal Deposit Insurance Corp.Citibank, for example, had a Tier 1 capital ratio of 6.4 percent as of Sept. 30, 2008, the quarter before its parent company began getting TARP funds.
The bank had other problems besides its weak capital position. OneUnited is one of only a few banks to be under a federal supervisory enforcement order at the time it received TARP funding.
Posted in Political Issues, tagged Barney Frank, Chris Dodd, Democrats, financial reform, Obama's stimulus, Obamacare, stimulus, unemployment, unemployment rates, union bailouts on August 9, 2010 | Leave a Comment »
No why wouldn’t Democrats brag about all they have accomplished since Feb. 2009? I wouldn’t brag either if the $862 billion stimulus I helped pass that failed to keep unemployment below 8% or create (not save) 3.5 million jobs.. I also wouldn’t brag about being responsible for passing ObamaCare with backroom deals, bribes and bold-faced lies. And we can’t leave out bragging about a financial reform bill that Chris Dodd said we won’t know if it works until the next financial crisis.
Who would want to brag about bills that do the exact opposite of what they were promised to do?
As Democrats fan out across the country to campaign for reelection this month, many are surprisingly quiet about their hard-won accomplishments — the major bills they have passed under President Obama.
In an effort coordinated with the White House, congressional leaders are urging Democrats to focus less on bragging about what they have done — a landmark healthcare law, a sweeping overhaul of Wall Street regulation and other far-reaching policy changes — and more on efforts to fix the economy and on the perils of Republican control of Congress.
So much for that Obama promise of no more bailouts. It also explains why neither Freddie Mac or Fannie Mae are covered by that awesome financial reform bill written by the two crooks responsible for the financial meltdown, Chris Dodd and Barney Frank.
Mortgage finance giant Freddie Mac (FMCC.OB) on Monday said it would need another $1.8 billion in aid from taxpayers, bringing its total request since it was taken over by the government two years ago to more than $64 billion.
The second largest U.S. residential mortgage funds provider reported a loss of $6.0 billion, or $1.85 per diluted share, in the second quarter, including a $1.3 billion dividend payment to the government.
That compares with an $8.0 billion loss in the prior quarter and is the best three-month performance in a year. The firm lost $840 million in the second quarter of last year.
The company said losses stemmed primarily from loans purchased or guaranteed between 2005 and 2008.
The U.S. Treasury took control of Freddie Mac and its sister entity, Fannie Mae (FNMA.OB), at the height of the financial crisis in 2008 as loan losses mounted.
Since the government takeover, the two firms together have requested close to $150 billion from the government’s unlimited credit line, scheduled to expire at the end of 2012.
The plan to put Freddie Mac and Fannie Mae into conservatorship was meant to be temporary.
But nearly two years later, Treasury Secretary Timothy Geithner has only just begun the process of figuring out how to overhaul the U.S. housing finance system.
Geithner has called for a conference on the future of housing finance to be held at the Treasury later this month.
The financial regulatory overhaul, which was signed into law by President Barack Obama last month, did not address reorganizing Freddie Mac and Fannie Mae, though it did restrict some mortgage lending practices that led to risky loans.
The answer? Neither have a name…
Both have adopted highly unconventional names in their lifetimes. In Prince’s case, it was the adoption of a symbol to protest Warner Brothers’ artistic and financial control of his output.
Following suit, H.R. 1586 has adopted the name, the “______Act of____,” apparently because of the haste with which the Senate wanted to pass the bill last week.
The Senate’s substitute amendment on this $26 billion spending bill had a placeholder bill name, and it could not take time to replace the placeholder. The House is expected to return this week and pass the Senate amendment, sending it to the president.
As reported on the WashingtonWatch.com blog and cnet news, this highly unconventional name may be what goes into law. With the Senate out of town until September, there is no chance to pass a correcting amendment in both houses. The constitution requires both to pass identical bills, so the House must take up the “______Act of____” and pass it as such.
If it does, the “law with no name” will stand as a lasting tribute to the inattention Congress gives its work. Spending billions of taxpayer dollars is a hurried and casual affair for our lawmakers.
That’s the DummyCrats in a nutshell. In such a hurry to blow through billions of taxpayer dollars to appease the Teacher Unions.
Remember, she was only doing this for the minority community. I didn’t know lining your pockets through fraud was considered “helping” a community.
The House ethics committee released its formal charges against Rep. Maxine Waters Monday, accusing her of three counts of violating the letter and spirit of House rules and federal regulations by assisting a bank in which her husband owned stock.
The 10-page “Statement of Alleged Violation” focuses on the actions of Waters and Mikael Moore, who is the congresswoman’s chief of staff and her grandson, and tracks very closely with the year-old findings of the independent Office of Congressional Ethics.
But the ethics committee insists she should have stayed away from the matter entirely, given her husband’s stake in the company.
Within a month of the takeover, the value of Waters’s husband’s investment in the bank had plummeted to $175,000 — and he was in danger of losing the rest of the money if OneUnited failed.
I bet Maxine is pissed that Barney Frank, who is involved with this deal, hasn’t faced the same scrutiny that she is. On top of Chris Dodd, Kent Conrad and Jack Murtha who all had ethics issues last year. All these corrupt Democrats writing our laws and stealing our money at the same time. Remember in November!
It’s great to use Obummer’s own words and actions against him…
Nothing can stop Obama from fundraising, golfing, vacationing and hosting concerts. The economy can’t stop him. The situation in Afghanistan can’t stop him. The high unemployment rate can’t stop him. Americans telling him to do his job can’t stop him.
Stop him in November and kick his ass out in 2012.