President Obama's newly discovered prudence with taxpayers money and his tough-love approach to GM and Chrysler would both have more credibility if he hadn't demanded Rick Wagoner's resignation, as well.
By imposing operational conditions normally reserved for Boards of Directors, the Administration is now bound to the infamous "Pottery Barn" rule: You break it, You buy it. If things go further south, the government is now complicit.
It also means that Wagoner, was perceived as an obstacle to whatever plans the Administration has for GM and that's the real source of concern...
Continue reading here from Cato@Liberty by Daniel Ikenson
Rep. Barney Frank D-MA Chairman of the House Financial Services Committee believes that Washington, not you and your employer knows what you should be compensated.
Last week Treasury Secretary Timmy Geithner pleaded that Congress give to him expanded powers to confiscate private businesses.
Congress now wants to give Geithner the power to determine the pay of thousands of American Workers.
A complete take-over of private companies---yesterday Obama, the new defacto President/CEO of Government Motors, seized control of the ailing auto company, after long time GM CEO Rick Wagoner, was fired over the weekend.
Free Market Death Watch has begun. Capitalism is dying under Obama's watch.
Jim Liu, an IRS Agent who audits taxpayers in California, has agreed to plead guilty for cheating on his taxes. According to Prosecutors, Liu sold a property in Pomona, CA in 2002 for a profit of more than $48,000 but reported a loss on his income taxes.
The tax loss to the government was more than $14,000
"Hope-n-Change" is not making or keeping too many friends.
Conservatives don't trust the Marxist, many Independents have lost confidence in him and now he has got the UAW and AFL/CIO angry with him, calling him a Fink.
Remember Judge Henry X. Harper, from "Miracle on 34th Street" realizing that if he ruled there was no Santa Claus, that he was going to be a "real popular fellow."
Obama has suddenly became a "real popular fellow" among his base, forcing the CEO of a private business out the door, the rank and file have accused the President of a "double standard" not applying the same rules to AIG which awarded bonuses for failure.
There indeed is nothing racist for criticizing "Hope-n-Change" and its wrong for those to call anyone of us that does anything but patriotic.
When did it become bigoted to exercise ones 1st Amendment Right and criticize the President of the United States? The left criticized Ronald Reagan while he was Commander in Chief, along with George Bush 41 & 43 all the time.
"Angie Harmon is a patriot" if I may borrow a phrase from Bill O'Reilly.
The Obama Administration promised Detroit that it will be sure to give them more bailout money over the next 60 days as GM & Chrysler work out restructuring plans.
The taxpayers will now stand behind the warranties offered by the auto companies that have no conceivable way to pay back the billions already received.
Treasury Secretary Timmy Geithner said today on This Week ABC News, that "it isn't the risk that the government does too much instead, its the risk that the government does too little to try to help solve the financial problems."
On Thursday I wrote here that Geithner appeared before Congress last week and pleaded for expanded powers to confiscate private businesses.
Less than 100 days in office, "Hope-n-Change" projected Budget Deficit for 2009 will amount to 28% of expected GDP a level not seen since World War Two according to the Congressional Budget Office.
Not doing enough? Huh? Obama is forecasting a $1.75 Trillion Budget Deficit this year with expected Trillion Dollar Deficit's for the next 3 fiscal years.
Keith Olbermann of Countdown MSNBC, has accused Michele Bachmann, R-MN of "breaking several serious laws" for suggesting that the American people should rise up against some liberal non-sense going on in Washington, DC
Treasury Secretary Timmy Geithner, urges Congress to move swiftly, providing him with new authority to confiscate private businesses.
On Thursday I wrote here that Rep. Don Manzullo, R-IL asked Geithner if he realized how radical his proposal is?
Earlier in the week, Rep. Michele Bachmann, R-MN during testimony by Geithner, asked the Treasury Secretary, "what is the Constitutional authority which provides Treasury to engage in the practices it has undertaken with AIG and others. Unable to answer the question, Timmy Geithner, fumbled around for an answer.
House Speaker Nancy Pelosi, D-CA sent a letter to Attorney General Eric Holder announcing her intentions to hold hearings on the issue of newspaper consolidations in the San Francisco Bay Area, citing anti-trust laws as a potential avenue to do something about this.
The Hearings would be by the Courts and Competition Policy Subcommittee of the House Judiciary Committee.
While clearly there are serious issues engulfing the newspaper industry in San Francisco and elsewhere, the problem isn't one of anti-trust laws. Pelosi has made her feelings known and would like to return to the Fairness Doctrine.
The industry has been changing for years but other than perhaps some limits on one company owning too many newspapers, television and radio stations in a single market, the government really should have no role in the business of news.
Speaker Pelosi, is determined to regulate what news we can read, watch and listen too, it would make it much easier for Democrats to get their agenda enacted if it wasn't for the 1st Amendment.
In January, I wrote here that Free Speech is essential in the pursuit of learning, not every idea or thought is an avenue of incitement, censorship only results in the pursuit of finding cracks in the Great Firewall of China.
This still is the United States of America with a Constitution?
Acting Director of Office of Thrift Supervision at Treasury Scott Polakoff, has now been forced to take a leave of absence after internal audits uncovered his allowance of backdating capital infusions by some banks such as Indy Mac.
A grieving mother cries for her child that perished at Beichuan Middle School on the 12 May, more than 700 children perished---more than 80,000 people were killed during last year's devastating Sichuan Earthquake.
Another mother walks through the rubble being assisted by relatives. Photos of school children are placed in remembrance of the many children who perished at Fuxin No. 2 Primary School in Wufu, Sichuan Province, a young girl mourns her classmates.
China's population will swell soon with the traditional Chinese Day of Family Mourning on the 04 April.
On the 25 February, I wrote here that a wall map of China survived the 8.0 earthquake at Beichuan Middle School.
Contrary to the public announcement that the water was safe to drink subsequent to the earthquake, a huge benzene chemical spill contaminated drinking water which Chinese authorities failed to tell the survivors.
So much good can come from a small amount of money, $1,000 USD will equip a library with Children's books and a comfortable reading area in a under financed elementary school or orphanage.
Its an article of clothing, so why does Beijing disapprove of this shirt?
Chinese leaders insist that they are only acting in the best interests of society.
The Roman numerals read 8964 which refers to June 04, 1989 the day that pro-democracy demonstrators were smashed by the Chinese Military in and around Tiananmen Square in Beijing.
Can't have people remembering that so Chinese Authorities have no other alternative than to ban the shirt in order to maintain a harmonious society.
Oh My ! More here from McClatchy Blog---China Rises
Florida Head Football Coach Urban Meyer, holds the BCS Coaches Trophy following its 2008 victory over Oklahoma 24-14
One would surely think that the U.S. Senate under the Leadership of Harry Reid, D-NV would have plenty to do with the Economic Crisis and Budget Debate that they would not be wasting taxpayer dollars investigating how the BCS picks the Number 1 NCAA College Football Team?
The Senate announced today that they have opened an investigation into college football---"Hope-n-Change" and some Members of Congress favor a playoff type system to determine the national championship.
White House Chief of Staff Rahm Emanuel smiling along side of disinterested Obama surrogates John Podesta Right and David Axelrod Left.
Before its portfolio of bad loans that helped to trigger the current housing crisis mortgage giant Freddie Mac was the focus of a major accounting scandal that led to management shake-up, huge fines and scalding condemnation of passive directors by a top federal regulator.
One of the Directors asleep at the switch was Rahm Emanuel, who received compensation of at least $320,000 for his 14 month stint at Freddie Mac, that required little effort.
Does President Obama truly believe that he can castigate and condemn Wall Street on Monday's, Wednesday's and Friday's and then secure its cooperation on the other days of the week?
Does he not understand that when he ignites a public furor over AIG bonuses and then incites Congress to pass a punitive tax, he sends shivers down the spines of every other corporate executive that makes a lot of money?
Does he seriously believe that Wall Street investors will not worry that their winnings should they join the Treasury as partners in risky investments, would be subject to public abuse publicity and confiscatory taxation?
Of course he realizes that his rhetoric makes it unlikely that his program will succeed. He obviously gets it that the entire concept of public-private partnership is impossible amid a climate of waging class warfare, taxing the rich and heaping contempt on anyone who makes money.
On Tuesday I wrote here that Sec. Timmy Geithner, appeared before Congress and pleaded for expanded powers to confiscate private businesses.
When questioned by Rep. Michele Bachmann, R-MN asking Geithner to point out the Constitutional Authority which has allowed him to undertake the actions he has taken, Geithner fumbled around for an answer.
Today the Treasury Secretary unveiled his visions for a Regulatory Czar saying that capitalism has "failed in basic fundamental ways."
Rep. Don Manzullo, R-IL told Geithner, "You realize how radical your proposal is?"
Geithner denied that giving the Treasury the power to confiscate private companies was radical.
Capitol Hill exploded in outrage this month when AIG paid retention bonuses to the employees it brought on board to rescue the company from the shoals. What about the people in high government offices who profited from unethical behavior during the period when the damages were done?
Congress could not start demanding refunds from these people like say, Barack Obama, Chief of Staff Rham Emanuel...
Kevin Chappell of Ebony Magazine asked "The One" at his Presidential New Conference on Tuesday:
"Thank you Mr. President. A recent report found that as a result of the economic downturn, 1 in 50 children are now homeless in America. With shelters at full capacity, tent cities are sprouting up across the country. In passing your stimulus package, you said that help was on the way but what would you say to these families, especially children who are sleeping under bridges and in tents across the country?"
What a bunch of @#!&% that went unchallenged by "The One" and the MSM
Yet another Obama nominee has withdrawn his name for consideration.
Jon Cannon withdrew his name for consideration to the No. 2 spot at EPA amidst allegations that he served on a board which mishandled $25 Million in federal grant money between 1998-2005
On the 13 March I wrote here that Geng He along with her children, fled China after years of political persecution.
Soon after her arrival into the United States with her children seeking political asylum, Geng gave a series of interviews as did the dissident's who aided her.
Much of the MSM has ignored this story and Beijing has banned the story from being broadcast in China. When Beijing bans something, it usually means that people need to hear it.
The Obama Administration has now ordered an end to the phrase "Global War on Terror" and replacing it with "Overseas Contingency Operation" according to a memo sent out this week from the Defense Department Office of Security.
About a week ago Obama's Homeland Security Chief decided that the word "Terrorism" was too inflammatory and decided to cease using it and instead begin using the phrase Man-Caused Disaster with the hope that by using different words the Islamic Jihadist Terrorist Thugs will just be nice.
"Hope-n-Change" command of the English language may need some tweaking, who is he trying to kid though he may believe it himself ?
In Obama's prime time press conference last night he used the word "invest" or "investment" 18 different times to describe deficit spending.
Last week the Congressional Budget Office analyzed the President's budget proposals and concluded the deficit would be nearly $2 Trillion Dollars this year and $1.4 Trillion next year---the cumulative deficit forecast over the next decade would equal to $9.3 Trillion Dollars and average 5.3% of gross domestic product. Debt held by the public would rise from 57% of GDP in 2009 to 82% of GDP in 2019
Its time to stop blaming George Bush, the largest budget deficit President Bush ever run before this year was $459 Billion in fiscal year 2008
Its payback time for helping get Democrats elected to Congress and the White House.
Last year Michelle Malkin was only joking when she said it won't be long before newspapers look for their bailouts. Michelle should never have planted that idea in their head. Bad Michelle---I am just joking.
U.S. Senator Benjamin Cardin, D-MD has proposed bailing out newspapers by permitting them to restructure as non-profit corporations with a variety of tax breaks.
Stocks slide after a weak government bond auction to finance the ever increasing budget deficits, resulting in worries how the government may be able to pay for "Hope-n-Change" grandiose programs.
On Tuesday during the White House Press Conference, Obama flatly rejected the idea of a new global currency, Secretary of Treasury Timmy Geithner said today that the United States may be open to the proposals by China and the Kremlin for a new global currency.
Who is in charge of this Administration, Geithner or Obama ? Is "Hope-n-Change" nothing but a figure head ?
Conservative Author and Attorney Mark Levin, has delivered a "...stalwart conservative manifesto, written by a conservative who doesn't want to re-brand and repackage conservatism into liberalism. He draws on founding principles, not polls, to lay out the agenda for the Right---and to illuminate the fatal flaws of statism..."
The Obama Administration is asking Congress to expand their authority to seize non-bank financial companies such as insurances companies, investment firms and hedge funds in its expanding web of power.
Treasury Secretary Timmy Geithner is scheduled to argue for the new expanded powers today during his appearance before Congress---when questioned by Michele Bachmann, as to the Constitutional authority to engage in the practices it has undertaken with AIG and other's, Treasury Secretary Geithner, fumbled around for an answer and never could cite the Constitutional provision that authorized the Dept. of Treasury to take any such action.
In a free market economy successful companies grow and expand while failing companies either reorganize or go out of business---the Obama Administration wants the authority to choose which companies should be saved which in its opinion may damage the broader economy.
Under the new authority, Treasury would be allowed to nationalize private businesses by purchasing assets, guanateeing loans, buying equity positions and renegotiate contracts including labor agreements.
Government bailouts of banks, insurance companies and mortgages have put Trillions of taxpayers money at risk during the past year and have resulted in the fiasco such as the AIG debacle which authorized paying executive bonuses for failure.
Sen. John McCain the liberal Arizona Republican that suspended his Presidential Campaign last fall, so that he could rush back to Washington and vote with then Senator Obama and the other Democrat-Republicans to nationalize banks and mortgages says that he supports Treasury Secretary Timmy Geithner and that he needs to be given a chance.
Who does Pete Stark represent in Congress California or Maryland? This Senior House Democrat has been claiming that his $1.7 Million Dollar Maryland home is his primary residence, while representing California's 13th Congressional District.
A "left-wing" bus tour prowled the affluent neighborhoods of Fairfield, CT on Saturday looking for AIG Execs to harass---the NYT found the stunt noteworthy of a full story in their national Sunday paper.
The NYT has yet to devote a full story to any of the grassroots "Tea Parties" across the country in opposition to Obama's big spending packages.
On Saturday I wrote here about the "Tea Party" in Orlando.
Power Line published here Another Weekend, More Tea Parties
Two days after disclosing her fight with breast cancer, Florida Congresswoman Debbie Wasserman-Schultz announced yesterday, that she will be co-sponsoring legislation to highlight breast cancer risks facing young women under the age of 40 in order to empower them with the tools they need to prevent and fight this deadly disease.
More here from Rep. Debbie Wasserman-Schultz Press Release
"Hope-n-Change" trillion dollar deficits do have consequences as Beijing has now joined the Kremlin pushing for a new global currency to replace the US Dollar as the international reserve currency.
In December I wrote here that China continues to finance our deficits and is the largest holder of U.S. debt securities.
What happens if China now demands that the United States as a condition to future financing of our deficits, that we must join them collectively to establish a new world global currency?
Treasury Sec. Timmy Geithner, announcing his latest $1 Trillion Dollar spending scheme which will need the participation from private investors who have been vilified by Obama and his surrogates for months.
Should wealthy investors participate in Geithner's plan and make money, how much in additional taxes and new taxes will they have to pay so that "Hope-n-Change" may spread their wealth and redistribute their income?
The Obama Administration plan to help banks get credit flowing again is drawing a tepid response from investors.
More here Geithner's Five Big Misconceptions by Henry Blodget
Since last year as President of the Federal Reserve Bank of New York and presently as Sec. of Treasury, Timmy Geithner and his aides have worked on compensation issues including bonuses for AIG Execs.
Ooops---Barry Obama just happened to forget to mention this detail during his demagoguery last week.
At a time when Congress is spending Trillions of dollars to stimulate the U.S. economy, "Hope-n-Change" has ordered that condoms be bought from China, ending jobs in Alabama. China View photo
